Cover Page
Cover Page - shares | 3 Months Ended | |
Mar. 31, 2023 | Apr. 30, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 001-34653 | |
Entity Registrant Name | FIRST INTERSTATE BANCSYSTEM, INC. | |
Entity Incorporation, State or Country Code | MT | |
Entity Tax Identification Number | 81-0331430 | |
Entity Address, Address Line One | 401 North 31st Street | |
Entity Address, City or Town | Billings, | |
Entity Address, State or Province | MT | |
Entity Address, Postal Zip Code | 59116-0918 | |
City Area Code | 406 | |
Local Phone Number | 255-5311 | |
Title of 12(b) Security | Class A common stock, no par value | |
Trading Symbol | FIBK | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Amendment Flag | false | |
Entity Central Index Key | 0000860413 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Entity Common Stock, Shares Outstanding | 104,375,923 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 332.9 | $ 349.2 |
Interest bearing deposits in banks | 747.7 | 521.2 |
Federal funds sold | 0.1 | 0.1 |
Total cash and cash equivalents | 1,080.7 | 870.5 |
Investment securities: | ||
Available-for-sale, net of allowance for credit losses of $2.6 at March 31, 2023 and $0.0 at December 31, 2022 (amortized cost of $6,582.2 at March 31, 2023 and $7,573.5 at December 31, 2022) | 6,049.3 | 6,946.1 |
Held-to-maturity, net of allowance for credit losses of $0.7 at March 31, 2023 and $1.9 at December 31, 2022 (estimated fair values of $3,025.8 at March 31, 2023 and $3,052.2 at December 31, 2022) | 3,376.2 | 3,451.8 |
Total investment securities | 9,425.5 | 10,397.9 |
Federal Home Loan Bank Stock and Federal Reserve Bank Stock | 214.5 | 198.6 |
Loans held for sale | 80.9 | 79.9 |
Loans held for investment, net of deferred fees and costs | 18,245.7 | 18,099.2 |
Allowance for credit losses | 226.1 | 220.1 |
Net loans held for investment | 18,019.6 | 17,879.1 |
Goodwill | 1,100.9 | 1,100.9 |
Bank Owned Life Insurance | 499.4 | 497.9 |
Premises and equipment, net of accumulated depreciation | 443.4 | 444.7 |
Other intangibles, net of accumulated amortization | 93 | 97 |
Accrued interest receivable | 113.7 | 118.3 |
Mortgage servicing rights, net of accumulated amortization and impairment reserve | 30.1 | 31.1 |
Real Estate Acquired Through Foreclosure | 13.4 | 12.7 |
Deferred tax assets | 173.2 | 210.5 |
Other assets | 349.4 | 348.7 |
Total assets | 31,637.7 | 32,287.8 |
Deposits: | ||
Non-interest bearing | 6,861.1 | 7,560 |
Interest bearing | 17,245.9 | 17,513.6 |
Total deposits | 24,107 | 25,073.6 |
Securities sold under repurchase agreements | 970.8 | 1,052.9 |
Accounts payable and accrued expenses | 361.8 | 445.9 |
Accrued interest payable | 26.1 | 14.5 |
Long-term debt | 120.8 | 120.8 |
Other Short-term Borrowings | 2,710 | 2,327 |
Allowance for credit losses on off-balance sheet credit exposures | 17.8 | 16.2 |
Subordinated debentures held by subsidiary trusts | 163.1 | 163.1 |
Total liabilities | 28,477.4 | 29,214 |
Stockholders’ equity: | ||
Preferred stock, no par value; 100,000 shares authorized; none issued and outstanding | 0 | 0 |
Common stock, no par value; 150,000,000 shares authorized at March 31, 2023 and December 31, 2022; 104,382,018 and 104,442,023 shares were issued and outstanding, respectively | 2,478.7 | 2,478.2 |
Retained earnings | 1,080.7 | 1,072.7 |
Accumulated other comprehensive loss, net | (399.1) | (477.1) |
Total stockholders’ equity | 3,160.3 | 3,073.8 |
Total liabilities and stockholders’ equity | $ 31,637.7 | $ 32,287.8 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Investment securities: | ||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 0.7 | $ 1.9 |
Estimated fair value | $ 3,025.8 | $ 3,052.2 |
Stockholders' equity: | ||
Nonvoting, noncumulative preferred stock, shares authorized (in shares) | 100,000 | 100,000 |
Nonvoting, noncumulative preferred stock, shares issued (in shares) | 0 | 0 |
Nonvoting, noncumulative preferred stock, shares outstanding (in shares) | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Shares outstanding (in shares) | 104,382,018 | 104,442,023 |
Common Stock, Shares, Issued | 104,382,018 | 104,442,023 |
Common Stock, Shares Authorized | 150,000,000 | 150,000,000 |
Common Stock, Par or Stated Value Per Share | $ 0 | $ 0 |
Preferred Stock, No Par Value | $ 0 | $ 0 |
Other Short-term Borrowings | $ 2,710 | $ 2,327 |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 6,582.2 | 7,573.5 |
Estimated Fair Value | 6,049.3 | 6,946.1 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Excluding Accrued Interest | $ 2.6 | $ 0 |
Class A Common Stock | ||
Stockholders' equity: | ||
Shares outstanding (in shares) | 104,442,023 | |
Common Stock, Shares, Issued | 104,442,023 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Interest income: | ||
Interest and fees on loans | $ 235.6 | $ 151.7 |
Interest and dividends on investment securities: | ||
Taxable | 71.7 | 29.3 |
Exempt from federal taxes | 1.4 | 1.3 |
Other Interest and Dividend Income | 3 | 0.4 |
Interest on deposits in banks | 4.2 | 1.7 |
Total interest income | 315.9 | 184.4 |
Interest expense: | ||
Interest on deposits | 40.3 | 3 |
Interest on securities sold under repurchase agreements | 1.1 | 0.3 |
Interest Expense, Other Short-term Borrowings | 31.2 | 0 |
Interest on long-term debt | 1.5 | 1.7 |
Interest on subordinated debentures held by subsidiary trusts | 2.9 | 1 |
Total interest expense | 77 | 6 |
Net interest income | 238.9 | 178.4 |
Provision for credit losses | 15.2 | 61.3 |
Net interest income after provision for credit losses | 223.7 | 117.1 |
Non-interest income: | ||
Payment Services Revenues | 18.7 | 14.8 |
Mortgage banking revenues | 2.3 | 8.4 |
Wealth management revenues | 9 | 8.1 |
Service Charges on Deposit Accounts | 5.2 | 7.7 |
Non-interest income | 2.4 | 4.3 |
Debt Securities, Available-for-sale, Gain (Loss) | (23.4) | (0.1) |
Other income | 2.2 | 5.6 |
Total non-interest income | 16.4 | 48.8 |
Non-interest expense: | ||
Salaries and wages | 65.6 | 60 |
Employee benefits | 22.8 | 21.2 |
Outsourced technology services | 14.7 | 11.3 |
Occupancy, net | 12.5 | 10 |
Furniture and equipment | 5.9 | 5.4 |
OREO expense, net of income | 0.2 | 0.1 |
Professional fees | 4.5 | 3.9 |
FDIC insurance premiums | 5.7 | 3.3 |
Other intangibles amortization | 4 | 3.6 |
Other expenses | 29.9 | 23.2 |
Acquisition related expenses | 0 | 65.2 |
Noninterest Expense | 165.8 | 207.2 |
Income (loss) before income tax | 74.3 | (41.3) |
Provision for (benefit from) income tax | 18 | (7.9) |
Net income (loss) | $ 56.3 | $ (33.4) |
Earnings per common share, basic (in dollars per share) | $ 0.54 | $ (0.36) |
Earnings per common share, diluted (in dollars per share) | $ 0.54 | $ (0.36) |
Weighted average common shares outstanding, basic (in shares) | 103,737,664 | 92,855,173 |
Weighted average common shares outstanding, diluted (in shares) | 103,818,719 | 92,855,173 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Comprehensive Income [Abstract] | ||
Net income (loss) | $ 56.3 | $ (33.4) |
Other comprehensive income (loss), before tax: | ||
Change in net unrealized gains (losses) during the period | 78.2 | (252.6) |
Reclassification adjustment for net losses included in income | 23.4 | 0.1 |
Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale | (7.2) | 0.2 |
OCI, Debt Securities, Available-for-Sale, Gain (Loss), after Adjustment and Tax | (0.4) | (23) |
Change in unrealized loss on derivatives | 10 | 21.3 |
Other comprehensive income (loss), before tax | 104 | (254) |
Deferred tax (expense) benefit related to other comprehensive income (loss) | (26) | 63 |
Other comprehensive income (loss), net of tax | 78 | (191) |
Comprehensive income (loss), net of tax | $ 134.3 | $ (224.4) |
Consolidated Statement of Chang
Consolidated Statement of Changes in Stockholders' Equity - USD ($) $ in Millions | Total | Common stock | Retained earnings | Accumulated other comprehensive loss |
Equity, beginning balance at Dec. 31, 2021 | $ 1,986.6 | $ 945 | $ 1,052.6 | $ (11) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | (33.4) | 0 | (33.4) | 0 |
Other comprehensive income (loss), net of tax expense | (191) | 0 | 0 | (191) |
Common stock transactions: | ||||
Common shares purchased and retired | (1.4) | (1.4) | 0 | 0 |
Common shares issued | 1,722.5 | 1,722.5 | 0 | 0 |
Non-vested common shares issued | 0 | 0 | 0 | 0 |
Non-vested common shares forfeited or canceled | 0.1 | (0.1) | 0 | 0 |
Stock-based compensation expense | 2.4 | 2.4 | 0 | 0 |
Common cash dividend declared | (44.7) | 0 | (44.7) | 0 |
Equity, ending balance at Mar. 31, 2022 | 3,441.1 | 2,668.6 | 974.5 | (202) |
Equity, beginning balance at Dec. 31, 2022 | 3,073.8 | 2,478.2 | 1,072.7 | (477.1) |
Increase (Decrease) in Stockholders' Equity [Roll Forward] | ||||
Net income | 56.3 | 0 | 56.3 | 0 |
Other comprehensive income (loss), net of tax expense | 78 | 0 | 0 | 78 |
Common stock transactions: | ||||
Common shares purchased and retired | (1.8) | (1.8) | 0 | 0 |
Non-vested common shares issued | 0 | 0 | 0 | 0 |
Non-vested common shares forfeited or canceled | 0 | 0 | 0 | 0 |
Stock-based compensation expense | 2.3 | 2.3 | 0 | 0 |
Common cash dividend declared | (48.3) | 0 | (48.3) | 0 |
Equity, ending balance at Mar. 31, 2023 | $ 3,160.3 | $ 2,478.7 | $ 1,080.7 | $ (399.1) |
Consolidated Statement of Cha_2
Consolidated Statement of Changes in Stockholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||
Stock repurchased and retired (in shares) | 55,080 | 37,698 |
Common shares issued (in shares) | 46,887,104 | |
Non-vested common shares issued (in shares) | 10,863 | 450,813 |
Non-vested common shares forfeited (in shares) | 15,788 | 15,472 |
stock options exercised (in shares) | 17,807 | |
Shares tendered (in shares) | 4,877 | |
Common dividends (in dollars per share) | $ 0.47 | $ 0.41 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ||
Net income | $ 56.3 | $ (33.4) |
Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract] | ||
Provision for credit losses | 15.2 | 61.3 |
Gain (Loss) on Disposition of Property Plant Equipment | 0.1 | (0.2) |
Depreciation, Depletion and Amortization | 13.7 | 13.3 |
Accretion (Amortization) of Discounts and Premiums, Investments | (0.6) | 8.1 |
Debt and Equity Securities, Gain (Loss) | 23.4 | 0.1 |
Gain (Loss) on Sale of Loans and Leases | (0.8) | (3.3) |
Impairment of Real Estate and Other Assets Pending Disposal | 0.1 | 0 |
Gain (Loss) on Extinguishment of Debt | 0 | (1.4) |
Mortgage Servicing Rights (MSR) Impairment (Recovery) | 0 | (3.4) |
Deferred Income Tax Expense (Benefit) | 11.3 | (6.5) |
Life Insurance, Corporate or Bank Owned, Change in Value | (3.4) | (2) |
Share-Based Payment Arrangement, Noncash Expense | 2.3 | 2.4 |
Payments for Origination of Mortgage Loans Held-for-sale | (80.4) | (98.8) |
Proceeds from Sale of Mortgage Loans Held-for-sale | 79.6 | 112 |
Increase (Decrease) in Operating Capital [Abstract] | ||
Increase (Decrease) in Accrued Interest Receivable, Net | 4.6 | (0.6) |
Increase (Decrease) in Other Operating Assets | 7.7 | 4.3 |
Increase (Decrease) in Interest Payable, Net | 11.6 | (0.1) |
Increase (Decrease) in Accounts Payable and Accrued Liabilities | (83) | 13.1 |
Net Cash Provided by (Used in) Operating Activities, Total | 57.7 | 64.9 |
Payments to Acquire Investments [Abstract] | ||
Payments to Acquire Held-to-Maturity Securities | 0 | (370) |
Payments to Acquire Debt Securities, Available-for-Sale | 0 | (1,144.5) |
Proceeds from Sale, Maturity and Collection of Investments [Abstract] | ||
Proceeds from Sale and Maturity of Held-to-Maturity Securities | 54.9 | 106.4 |
Proceeds from Sale and Maturity of Debt Securities, Available-for-Sale | 987.3 | 826.5 |
Purchases of Federal Home Loan Bank and Federal Reserve Bank stock | 73.5 | 0 |
Proceeds from Federal Home Loan Bank and Federal Reserve Bank stock | 57.5 | 0 |
Proceeds from Life Insurance Policy | 1.9 | 0 |
Payments for (Proceeds from) Other Loans and Leases | (152.8) | 106.4 |
Proceeds from Sale of Wholly Owned Real Estate and Real Estate Acquired in Settlement of Loans | 0 | 0.3 |
Cash Acquired from Acquisition | 0 | 2,006.9 |
Payments for (Proceeds from) Productive Assets | (7) | (9.5) |
Net Cash Provided by (Used in) Investing Activities, Total | 868.3 | 1,522.5 |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||
Increase (Decrease) in Deposits | (966.6) | 130.8 |
Proceeds from (Payments for) in Securities Sold under Agreements to Repurchase | (82.1) | (55) |
Proceeds from (Repayments of) Other Debt | 383 | 0 |
Repayments of Other Long-Term Debt | 0 | (157.9) |
Proceeds from Issuance of Unsecured Debt | 0 | 8 |
Payments of Stock Issuance Costs | 0 | (0.8) |
Proceeds from Issuance of Common Stock | 0 | 0.1 |
Payments for Repurchase of Common Stock | (1.8) | (1.4) |
Payments of Ordinary Dividends, Common Stock | (48.3) | (44.7) |
Net Cash Provided by (Used in) Financing Activities, Total | (715.8) | (120.9) |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect, Total | 210.2 | 1,466.5 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Beginning Balance | 870.5 | 2,344.8 |
Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Ending Balance | 1,080.7 | 3,811.3 |
Supplemental Cash Flow Information [Abstract] | ||
Income Taxes Paid | 0 | 0.1 |
Interest Paid, Excluding Capitalized Interest, Operating Activities | 65.4 | 6 |
Supplemental Cash Flow Elements [Abstract] | ||
Asset Acquisition, Consideration Transferred, Equity Interest Issued and Issuable | 0 | 1,723.3 |
Finance Lease, Right-of-Use Asset, Amortization | 0.6 | 19.9 |
Net change in unamortized losses on available-for-sale investment securities transferred into held-to-maturity | 23 | 10.9 |
Debt Securities, Available-For-Sale, Transfer, Unrealized Gain (Loss) | 0 | 463.6 |
Transfer of loans to held-for-sale | 3.1 | 0 |
Transfer of loans from held-for-sale to held for investment | 0 | 19.8 |
Real Estate Owned, Transfer to Real Estate Owned | $ 0.8 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | In the opinion of management, the accompanying unaudited consolidated financial statements of First Interstate BancSystem, Inc., First Interstate Bank (“FIB”), and its other subsidiaries (collectively, the “Company”) contain all adjustments (all of which are of a normal recurring nature) necessary to present fairly the financial position of the Company at March 31, 2023 and December 31, 2022, the results of operations, changes in stockholders’ equity, and cash flows for each of the three month periods ended March 31, 2023 and 2022, in conformity with U.S. generally accepted accounting principles (“GAAP”). The balance sheet information at December 31, 2022 is derived from the audited consolidated financial statements. Certain reclassifications, none of which were material, have been made to conform the Company’s prior year financial statements to the March 31, 2023 presentation. These reclassifications did not change previously reported net loss or stockholders’ equity. These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, which includes a description of significant accounting policies. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. |
Acquisitions
Acquisitions | 3 Months Ended |
Mar. 31, 2023 | |
Business Combinations [Abstract] | |
Acquisitions | Acquisition Great Western Bank. On September 15, 2021, the Company entered into a definitive agreement (“Agreement”) to acquire 100% of the outstanding stock of Great Western Bancorp, Inc. (“Great Western”), the parent company of Great Western Bank (“GWB”), a Sioux Falls, South Dakota based community bank with 174 banking offices across Arizona, Colorado, Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota (“GWB acquisition”). The acquisition of GWB expanded the Company’s geographical footprint with an enhanced platform for future growth. Consideration for the acquisition was $1,723.3 million, consisting of the issuance of 46.9 million shares of the Company’s Class A common stock valued at $36.76 per share, which was the opening price of the Company’s Class A common stock as quoted on the NASDAQ stock market on the acquisition date. The acquisition was completed on February 1, 2022. The Company accounted for the transaction under the acquisition method of accounting in accordance with ASC 805, Business Combinations , which requires purchased assets and liabilities assumed and consideration exchanged to be recorded at their respective estimated fair values at the date of acquisition. The determination of estimated fair values required management to make certain estimates about discount rates, future expected cash flows, and market conditions at the time of the acquisition, as well as other future events that are highly subjective in nature. The following table provides the purchase price allocation as of the acquisition date and the Great Western assets acquired and liabilities assumed at their estimated fair value as of the acquisition date as amended for measurement period adjustments. We recorded the estimate of fair value based on valuations at the acquisition date. The excess value of the consideration paid over the fair value of assets acquired and liabilities assumed was recorded as goodwill. The purchase price allocation resulted in goodwill of $479.3 million, of which $31.7 million is deductible for income tax purposes. Goodwill resulting from the acquisition was allocated to the Company’s one operating segment, community banking, and consists largely of the synergies and economies of scale expected from combining the operations of Great Western and the Company. All amounts reported were finalized during the fourth quarter of 2022. As of February 1, 2022 Assets acquired: Cash and cash equivalents $ 2,006.9 Investment securities 2,699.0 Securities purchased under agreement to resell 101.1 Loans held for sale 217.0 Loans held for investment 7,705.0 Allowance for credit losses (59.5) Premises and equipment, including right of use lease assets 144.7 OREO 15.8 Company-owned life insurance 186.6 Core deposit intangibles 50.1 Customer relationship intangible 22.8 Mortgage servicing rights 1.3 Deferred tax assets, net 60.2 Other assets 200.8 Total assets acquired 13,351.8 Liabilities assumed: Deposits 11,688.0 Securities sold under repurchase agreements 74.0 Accrued expenses and other liabilities 110.4 FHLB advances 122.9 Subordinated debt 36.4 Subordinated debentures held by subsidiary trusts 76.1 Total liabilities assumed 12,107.8 Net assets acquired $ 1,244.0 Consideration paid: Class A common stock 1,723.3 Total consideration paid (1) $ 1,723.3 Goodwill $ 479.3 (1) Includes $13 thousand of cash paid in lieu of fractional shares. For a description of the fair value and unpaid principal balance of loans from the GWB acquisition, as well as the methods used to determine the fair values of significant assets and liabilities, see “Note 2 – Acquisitions” in Part IV, Item 15 “Notes to Consolidated Financial Statements” within our Annual Report on Form 10-K for the year ended December 31, 2022. There were no and $65.2 million of acquisition related expenses related to the GWB acquisition for the three month periods ended March 31, 2023 and 2022, respectively. During the three months ended March 31, 2022, the Company contributed $21.5 million to the First Interstate Foundation and reimbursed an aggregate of $8.2 million of the Scott family control group’s acquisition expenses pursuant to the Agreement. The accompanying consolidated statements of income for the three months ended March 31, 2023 and 2022, include the results of operations of the acquired entity from the February 1, 2022 acquisition date. The disclosure of GWB post-acquisition revenue and net income is not practical due to the combining of certain GWB operations with and into FIB as of the acquisition date. GWB was merged with our existing bank subsidiary, FIB, contemporaneously with the closing of the parent company merger. The core system conversion was completed on May 23, 2022. The following table presents certain unaudited pro forma financial information for illustrative purposes only, for the three month period ended March 31, 2022 as if GWB had been acquired on January 1, 2021. This unaudited pro forma information combines the historical results of GWB with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred at the beginning of the year prior to the acquisition. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value, cost savings, or business synergies. As a result, actual amounts would have differed from the unaudited pro forma information presented, and the differences could be significant. Three Months Ended March 31, 2022 Total revenues $ 268.9 Net income $ 76.4 Earnings per common share (Basic) $ 0.70 Earnings per common share (Diluted) $ 0.70 |
Goodwill and Core Deposit Intan
Goodwill and Core Deposit Intangibles | 3 Months Ended |
Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Goodwill The Company had goodwill of $1,100.9 million at March 31, 2023 and December 31, 2022 and performed its annual impairment assessment as of July 1, 2022 and concluded that there was no impairment to goodwill. In addition, there were no events or circumstances that occurred during the second half of 2022 that would more-likely-than-not reduce the fair value of the Company’s reporting unit below its carrying value. As a result of recent financial services economic conditions and its impact on our business, including volatility in the stock market and changes to the interest rate environment, we assessed whether a triggering event had occurred as of March 31, 2023 and concluded a triggering event had not occurred as there is no substantial change to the Company’s long-term performance expectations. We will continue to monitor the financial services economic conditions and perform an interim impairment analysis if necessary. Other Intangible Assets Other intangible assets are comprised of core deposit intangibles (“CDI”) and other customer relationship intangibles (“OCRI”) and amounted to the following at March 31, 2023 and December 31, 2022: March 31, 2023 CDI OCRI Total Gross other intangible assets, at January 1, 2023 $ 154.7 $ 22.8 $ 177.5 Accumulated amortization (82.3) (2.2) (84.5) Net other intangible assets, at March 31, 2023 $ 72.4 $ 20.6 $ 93.0 December 31, 2022 Gross other intangible assets, at January 1, 2022 $ 106.0 $ — $ 106.0 Amounts established through acquisition 50.1 22.8 72.9 Reductions due to sale of health savings accounts (1.4) — (1.4) Accumulated amortization (78.8) (1.7) (80.5) Net other intangible assets, at December 31, 2022 $ 75.9 $ 21.1 $ 97.0 The Company recorded $4.0 million and $3.6 million of other intangible asset amortization expense for the three months ended March 31, 2023 and 2022, respectively. CDI and OCRI are evaluated for impairment if events and circumstances indicate a possible impairment. CDI is amortized using an accelerated method based on the estimated weighted average useful lives of the related deposits, which is generally 10 years. OCRI is amortized using a straight-line method over its estimated useful life of 12 years based on customer revenue attrition on an annualized basis. The following table provides the estimated aggregate future amortization expense of other intangible assets at March 31, 2023: Years Ending December 31, CDI OCRI Total 2023 remaining $ 10.2 $ 1.4 $ 11.6 2024 12.7 1.9 14.6 2025 11.8 1.9 13.7 2026 10.9 1.9 12.8 2027 8.2 1.9 10.1 Thereafter 18.6 11.6 30.2 Total $ 72.4 $ 20.6 $ 93.0 |
Investment Securities
Investment Securities | 3 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | The amortized cost and the approximate fair values of investment securities are summarized as follows: March 31, 2023 Amortized Allowance for Credit Losses Net Amortized Cost Gross Gross Estimated Available-for-Sale: U.S. Treasury notes $ 250.1 $ — $ 250.1 $ — $ (26.9) $ 223.2 State, county, and municipal securities 262.0 — 262.0 — (40.9) 221.1 Obligations of U.S. government agencies 186.4 — 186.4 — (12.3) 174.1 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 4,221.0 — 4,221.0 0.2 (362.8) 3,858.4 Private mortgage-backed securities 260.3 — 260.3 — (35.2) 225.1 Collateralized loan obligations 1,143.3 1,143.3 — (29.4) 1,113.9 Corporate securities 261.7 (2.6) 259.1 — (25.6) 233.5 Total $ 6,584.8 $ (2.6) $ 6,582.2 $ 0.2 $ (533.1) $ 6,049.3 March 31, 2023 Amortized Allowance for Credit Losses Net Amortized Cost Gross Gross Estimated Held-to-Maturity: U.S. Treasury notes $ 397.2 $ — $ 397.2 $ — $ (7.6) $ 389.6 State, county, and municipal securities 180.9 — 180.9 0.4 (25.2) 156.1 Obligations of U.S. government agencies 352.3 — 352.3 — (44.7) 307.6 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations (1) 2,389.4 — 2,389.4 1.0 (269.7) 2,120.7 Corporate securities 57.1 (0.7) 56.4 — (4.6) 51.8 Total $ 3,376.9 $ (0.7) $ 3,376.2 $ 1.4 $ (351.8) $ 3,025.8 (1) Amortized cost presented above include $19.7 million of unamortized losses and $13.2 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 and 2022 transfer of securities from available-for-sale to held-to-maturity. December 31, 2022 Amortized Gross Gross Estimated Available-for-Sale: U.S. Treasury notes $ 675.1 $ 2.1 $ (34.5) $ 642.7 State, county, and municipal securities 314.3 — (50.6) 263.7 Obligations of U.S. government agencies 216.2 — (17.3) 198.9 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 4,685.5 0.2 (426.0) 4,259.7 Private mortgage-backed securities 264.9 — (36.9) 228.0 Collateralized loan obligations 1,145.2 — (33.6) 1,111.6 Corporate securities 272.3 — (30.8) 241.5 Total $ 7,573.5 $ 2.3 $ (629.7) $ 6,946.1 December 31, 2022 Amortized Allowance for Credit Losses Net Amortized Cost Gross Gross Estimated Held-to-Maturity: U.S. Treasury notes $ 396.6 $ — $ 396.6 $ — $ (10.2) $ 386.4 State, county, and municipal securities 181.2 (0.1) 181.1 0.2 (31.6) 149.7 Obligations of U.S. government agencies 351.7 — 351.7 — (49.6) 302.1 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations (1) 2,444.1 — 2,444.1 0.2 (301.6) 2,142.7 Corporate securities 80.1 (1.8) 78.3 — (7.0) 71.3 Total $ 3,453.7 $ (1.9) $ 3,451.8 $ 0.4 $ (400.0) $ 3,052.2 (1) Amortized cost presented above include $20.1 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 transfer of securities from available-for-sale to held-to-maturity. Due to the recent banking industry’s significant volatility with multiple high-profile bank failures and industry wide concerns related to liquidity, deposit outflows, unrealized securities losses and eroding consumer confidence in the banking system, the Company reviewed our investment portfolio and transferred certain corporate debt securities classified as held-to-maturity, that were considered to have significant deterioration in the issuers’ credit worthiness, with an amortized cost of $23.0 million and an estimated fair value of $13.2 million to the available-for-sale category classification on March 13, 2023, under ASC 320. The transfer of debt securities into available-for-sale categories were recorded at fair value on the date of transfer. No gains or losses were recorded at the time of transfer; however, certain securities were subsequently sold during the first quarter of 2023, with the resulting loss reflected in the consolidated statements of income (loss) within the investment securities losses, net line item. The transferred securities had an allowance for credit losses of $0.8 million at the time of transfer. Additionally, transferred securities that were retained in the available-for-sale securities portfolio at March 31, 2023 were included in the assessment of the allowance for credit losses as described below. The following tables show the gross unrealized losses and fair values of available-for-sale investment securities and the length of time individual investment securities have been in an unrealized loss position as of March 31, 2023 and December 31, 2022. Less than 12 Months 12 Months or More Total March 31, 2023 Fair Gross Fair Gross Fair Gross Available-for-Sale: U.S. Treasury notes $ 48.1 $ (1.3) $ 175.1 $ (25.6) $ 223.2 $ (26.9) State, county, and municipal securities 8.0 (0.3) 210.0 (40.6) 218.0 (40.9) Obligations of U.S. government agencies 86.7 (4.0) 86.8 (8.3) 173.5 (12.3) U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 1,388.6 (63.5) 2,459.5 (299.3) 3,848.1 (362.8) Private mortgage-backed securities 0.1 — 225.0 (35.2) 225.1 (35.2) Collateralized loan obligations 117.3 (3.0) 996.6 (26.4) 1,113.9 (29.4) Corporate securities 80.0 (2.8) 153.5 (22.8) 233.5 (25.6) Total $ 1,728.8 $ (74.9) $ 4,306.5 $ (458.2) $ 6,035.3 $ (533.1) Less than 12 Months 12 Months or More Total December 31, 2022 Fair Gross Fair Gross Fair Gross Available-for-Sale: U.S. Treasury notes $ 168.8 $ (4.7) $ 170.4 $ (29.8) $ 339.2 $ (34.5) State, county, and municipal securities 104.9 (9.0) 146.1 (41.6) 251.0 (50.6) Obligations of U.S. government agencies 152.2 (10.1) 46.1 (7.2) 198.3 (17.3) U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 3,299.7 (262.3) 948.4 (163.7) 4,248.1 (426.0) Private mortgage-backed securities 133.1 (19.1) 94.9 (17.8) 228.0 (36.9) Collateralized loan obligations 1,082.6 (33.1) 28.9 (0.5) 1,111.5 (33.6) Corporate securities 130.6 (8.3) 110.8 (22.5) 241.4 (30.8) Total $ 5,071.9 $ (346.6) $ 1,545.6 $ (283.1) $ 6,617.5 $ (629.7) As of March 31, 2023 and December 31, 2022, there were no holdings of securities of any issuer, other than the U.S. government and its agencies, in an amount greater than 10% of stockholders’ equity. The Company determines credit losses on both available-for-sale and held-to-maturity investment securities by a discounted cash flow approach using the security’s effective interest rate at the time of purchase or upon acquisition. The allowance for credit losses is measured as the amount by which an investment security’s amortized cost exceeds the net present value of expected future cash flows. However, the amount of credit losses for available-for-sale investment securities is limited to the amount of a security’s unrealized loss. Credit losses on held-to-maturity investment securities are representative of current expected credit losses that management expects to be incurred over the life of the investment. The allowance for credit losses is established through a charge to provision for credit losses in current period earnings. The available-for-sale securities portfolio primarily contains securities that are guaranteed by a sovereign entity or are generally considered to have non-credit related risks, such as interest rate risk or prepayment and liquidity factors. The Company considers whether the securities are issued by the federal government or its agencies and whether downgrades by bond rating agencies have occurred. As of March 31, 2023 and December 31, 2022, the Company had 1,023 and 1,222 individual investment securities, respectively, that were in an unrealized loss position, which was related primarily to fluctuations in current interest rates. As of March 31, 2023, the Company had the intent and ability to hold these investment securities for a period of time sufficient to allow for an anticipated recovery. The Company does not intend to sell any of the available-for-sale securities in the above table, and the Company does not anticipate it will have to sell any securities before a recovery in cost. The following table presents the activity in the allowance for credit losses related to investment securities: Three Months Ended March 31, 2023 2022 Beginning balance $ 1.9 $ — Provision for available-for-sale credit losses 2.6 — Reversal of held-to-maturity credit loss losses (1.2) 1.6 Ending balance $ 3.3 $ 1.6 The Company had a $2.6 million and no allowance for credit losses for available-for-sale corporate investment securities as of March 31, 2023 and December 31, 2022, respectively. The Company had a $0.7 million and a $1.9 million allowance for credit losses for held-to-maturity corporate and state, county, and municipal investment securities as of March 31, 2023 and December 31, 2022, respectively. On a quarterly basis, the Company refreshes the credit quality indicator of each held-to-maturity security. The following table summarizes the credit quality indicators of held-to-maturity securities at amortized cost for the periods indicated: March 31, 2023 AAA AA A BBB BB Not Rated Total U.S. Treasury notes $ 397.2 $ — $ — $ — $ — $ — $ 397.2 State, county, and municipal securities 68.2 92.7 11.5 — — 8.5 180.9 Obligations of U.S. government agencies 352.3 — — — — — 352.3 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations FNMA/FHLMC 2,183.2 — — — — — 2,183.2 GNMA 206.2 — — — — — 206.2 Corporate securities — — — 52.1 — 5.0 57.1 Total $ 3,207.1 $ 92.7 $ 11.5 $ 52.1 $ — $ 13.5 $ 3,376.9 December 31, 2022 AAA AA A BBB BB Not Rated Total U.S. Treasury notes $ 396.6 $ — $ — $ — $ — $ — $ 396.6 State, county, and municipal securities 68.3 92.8 11.5 — — 8.6 181.2 Obligations of U.S. government agencies 351.7 — — — — — 351.7 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations FNMA/FHLMC 2,233.6 — — — — — 2,233.6 GNMA 210.5 — — — — — 210.5 Corporate securities — — — 65.1 10.0 5.0 80.1 Total $ 3,260.7 $ 92.8 $ 11.5 $ 65.1 $ 10.0 $ 13.6 $ 3,453.7 As of March 31, 2023 and December 31, 2022, the Company had $35.6 million and $38.9 million, respectively, of accrued interest receivable from investment securities on the consolidated balance sheets. Accrued interest receivable is presented as a separate line item on the consolidated balance sheets and the Company does not include accrued interest receivable in the carrying amount of financial assets held at the amortized cost basis or in the related allowance for credit losses calculation. As of March 31, 2023 and December 31, 2022, there were no available-for-sale or held-to-maturity securities on nonaccrual status. All securities in the portfolio were current with their contractual principal and interest payments. As of March 31, 2023 and December 31, 2022, there were no collateral dependent available-for-sale or held-to-maturity securities. There were no material gross realized gains and $23.4 million in gross realized losses on the disposition of available-for-sale investment securities, as a result of the sale of $853.0 million in carrying value of investment securities, during the three months ended March 31, 2023. For the three month period ended March 31, 2022, there were no material gross realized gains and no material gross realized losses on the disposition of available-for-sale investment securities. Maturities of securities do not reflect rate repricing opportunities present in adjustable-rate mortgage-backed securities. Maturities of mortgage-backed securities have been adjusted to reflect shorter maturities based upon estimated prepayments of principal. All other investment securities maturities are shown at contractual maturity dates. Available-for-Sale Held-to-Maturity March 31, 2023 Amortized Estimated Amortized Estimated Within one year $ 0.5 $ 0.5 $ 307.2 $ 300.4 After one year but within five years 786.6 746.1 301.1 287.2 After five years but within ten years 1,686.5 1,524.1 704.1 624.4 After ten years 4,111.2 3,778.6 2,064.5 1,813.8 Total $ 6,584.8 $ 6,049.3 $ 3,376.9 $ 3,025.8 As of March 31, 2023, the Company held investment securities callable within one year having amortized costs and estimated fair values of $1,525.9 million and $1,446.9 million, respectively. These investment securities are primarily included in the “after ten years” category in the table above. As of March 31, 2023, the Company had no callable structured notes. As of March 31, 2023 and December 31, 2022, the Company has amortized costs of $3,607.3 million and $4,998.9 million, respectively, for investment securities pledged to secure public deposits and securities sold under repurchase agreements that had estimated fair values of $3,228.5 million and $4,432.0 million, as of March 31, 2023 and December 31, 2022, respectively. All securities sold under repurchase agreements are with clients and mature on the next banking day. The Company retains possession of the underlying securities sold under repurchase agreements. As of March 31, 2023 and December 31, 2022, the Company held $214.5 million and $198.6 million, respectively, in equity securities in a combination of Federal Reserve Bank and Federal Home Loan Bank stocks, which are restricted nonmarketable securities acquired to meet regulatory requirements. These securities are carried at cost. |
Loans Held for Sale
Loans Held for Sale | 3 Months Ended |
Mar. 31, 2023 | |
Loans Held for Sale [Abstract] | |
Loans Held for Sale | The following table presents loans held for sale by portfolio segment for the dates indicated: March 31, December 31, Loans held for sale: Agricultural 1 $ 62.9 $ 62.5 Commercial construction, at lower of cost or market 6.4 10.5 Land acquisition and development, at lower of cost or market 3.1 — Residential mortgage, at fair value 8.5 6.9 Total loans held for sale $ 80.9 $ 79.9 1 The Company holds $55.4 million of agricultural loans at lower of cost or market and $7.5 million of agricultural loans on accrual status at fair value with an unpaid principal balance of $7.5 million, of which $5.6 million is 90 days or more past due. The table below presents the non-residential mortgage loans held for sale activity for the quarter ended March 31, 2023: Agricultural Commercial Construction Land Acquisition and Development Beginning balance $ 62.5 $ 10.5 $ — Repayments and discounted pay-offs (1.8) — — Loans held for investment transferred to loans held for sale — — 3.1 Increase (decrease) in estimated fair value of the loans 1 2.2 (4.1) — Ending balance $ 62.9 $ 6.4 $ 3.1 1 For the three months ended March 31, 2023, the Company recorded a gain of $2.2 million and a loss of $4.1 million in other income within the consolidated statements of income (loss) related to fair value changes. As of March 31, 2023, loans held for sale included nonaccrual loans of $37.5 million, of which $28.0 million were agricultural loans, $6.4 million was a commercial construction loan, and $3.1 million was a land acquisition and development construction loan. As of December 31, 2022, loans held for sale included nonaccrual loans of $39.8 million, of which $29.3 million were agricultural loans and $10.5 million was a commercial construction loan. |
Loans Held for Investment
Loans Held for Investment | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
Loans | Loans Held for Investment The following table presents loans by segment as of the dates indicated: March 31, December 31, Real estate loans: Commercial $ 8,680.8 $ 8,528.6 Construction loans: Land acquisition & development 368.5 386.2 Residential 471.4 516.2 Commercial 1,053.1 1,042.0 Total construction loans 1,893.0 1,944.4 Residential 2,191.1 2,188.3 Agricultural 769.7 794.9 Total real estate loans 13,534.6 13,456.2 Consumer loans: Indirect 817.3 829.7 Direct and advance lines 146.9 152.9 Credit card 71.5 75.9 Total consumer loans 1,035.7 1,058.5 Commercial 3,028.0 2,882.6 Agricultural 660.4 708.3 Other, including overdrafts 1.6 9.2 Loans held for investment 18,260.3 18,114.8 Deferred loan fees and costs (14.6) (15.6) Loans held for investment, net of deferred fees and costs 18,245.7 18,099.2 Allowance for credit losses (226.1) (220.1) Net loans held for investment $ 18,019.6 $ 17,879.1 Allowance for Credit Losses The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment: Three Months Ended March 31, 2023 Beginning Balance Provision for (reversal of) Credit Losses Loans Charged-Off (2) Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 27.2 $ 1.3 $ (2.5) $ — $ 26.0 Owner occupied 19.5 (0.2) (1.8) 0.1 17.6 Multi-family 27.9 7.1 — — 35.0 Total commercial real estate 74.6 8.2 (4.3) 0.1 78.6 Construction: Land acquisition & development 1.3 0.3 — — 1.6 Residential construction 3.6 0.1 — — 3.7 Commercial construction 31.2 5.9 — — 37.1 Total construction 36.1 6.3 — — 42.4 Residential real estate: Residential 1-4 family 20.5 (0.2) (0.1) — 20.2 Home equity and HELOC 1.6 0.3 (0.4) — 1.5 Total residential real estate 22.1 0.1 (0.5) — 21.7 Agricultural real estate 5.9 (1.2) — 0.1 4.8 Total real estate 138.7 13.4 (4.8) 0.2 147.5 Consumer: Indirect 15.3 0.6 (1.8) 0.7 14.8 Direct and advance lines 5.2 0.1 (1.1) 0.3 4.5 Credit card 2.8 — (0.5) 0.2 2.5 Total consumer 23.3 0.7 (3.4) 1.2 21.8 Commercial: Commercial and floor plans 49.0 (0.8) (0.6) 0.9 48.5 Commercial purpose secured by 1-4 family 5.7 (0.2) — 0.1 5.6 Credit card 0.2 0.2 (0.1) — 0.3 Total commercial 54.9 (0.8) (0.7) 1.0 54.4 Agricultural: Agricultural 3.2 (1.1) — 0.3 2.4 Total agricultural 3.2 (1.1) — 0.3 2.4 Total allowance for credit losses $ 220.1 $ 12.2 $ (8.9) $ 2.7 $ 226.1 Three Months Ended March 31, 2022 Beginning Balance ACL Recorded for PCD Loans Provision for (reversal of) Credit Losses Loans Charged-Off (2) Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 17.3 $ 24.1 $ 6.7 $ (2.9) $ — $ 45.2 Owner occupied 13.3 9.5 4.6 (2.2) — 25.2 Multi-family 13.3 29.9 11.4 — — 54.6 Total commercial real estate 43.9 63.5 22.7 (5.1) — 125.0 Construction: Land acquisition & development 0.5 3.4 (0.8) (2.7) 0.1 0.5 Residential construction 2.4 — 0.9 — — 3.3 Commercial construction 6.0 0.2 4.0 — — 10.2 Total construction 8.9 3.6 4.1 (2.7) 0.1 14.0 Residential real estate: Residential 1-4 family 13.4 0.1 5.2 (0.1) 0.1 18.7 Home equity and HELOC 1.2 — 0.1 — 0.1 1.4 Total residential real estate 14.6 0.1 5.3 (0.1) 0.2 20.1 Agricultural real estate 1.9 2.3 6.4 (0.1) — 10.5 Total real estate 69.3 69.5 38.5 (8.0) 0.3 169.6 Consumer: Indirect 14.3 — (0.3) (0.9) 0.4 13.5 Direct and advance lines 4.6 — (0.1) (0.8) 0.9 4.6 Credit card 2.2 — 0.6 (0.6) 0.1 2.3 Total consumer 21.1 — 0.2 (2.3) 1.4 20.4 Commercial: Commercial and floor plans 27.1 11.2 18.4 (4.2) 0.4 52.9 Commercial purpose secured by 1-4 family 4.4 0.2 0.4 — — 5.0 Credit card 0.1 — 0.3 (0.1) — 0.3 Total commercial 31.6 11.4 19.1 (4.3) 0.4 58.2 Agricultural: Agricultural 0.3 3.4 (0.5) (5.3) 1.1 (1.0) Total agricultural 0.3 3.4 (0.5) (5.3) 1.1 (1.0) Total allowance for credit losses $ 122.3 $ 84.3 $ 57.3 $ (19.9) $ 3.2 $ 247.2 (1) Amounts presented exclude the allowance for credit losses related to unfunded commitments and investment securities. These amounts are included in Note “Financial Instruments with Off-Balance Sheet Risk” and the allowance for credit losses related to investment securities which are included in Note “Investment Securities” included in this report, respectively. (2) Loans, or portions thereof, are charged-off against the allowance for credit losses when management believes the collectability of the principal is unlikely, or, with respect to consumer installment loans, according to an established delinquency schedule. Collateral-Dependent Financial Loans A collateral-dependent financial loan relies substantially on the operation or sale of the collateral for repayment. In evaluating the overall risk associated with a loan, the Company considers (1) character, overall financial condition and resources, and payment record of the borrower; (2) the prospects for support from any financially responsible guarantors; and (3) the nature and degree of protection provided by the cash flow and value of any underlying collateral. The loan may become collateral-dependent when foreclosure is probable or the borrower is experiencing financial difficulty and its sources of repayment become inadequate over time. At such time, the Company develops an expectation that repayment will be provided substantially through the operation or sale of the collateral. The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated: Collateral Type As of March 31, 2023 Business Assets Real Property Total Commercial real estate non-owner occupied $ 1.6 $ 12.2 $ 13.8 Commercial real estate owner occupied — 12.1 12.1 Commercial construction real estate — 17.9 17.9 Residential construction real estate — 0.5 0.5 Residential 1-4 family — 0.5 0.5 Agricultural real estate — 4.6 4.6 Commercial and floor plans 5.4 2.1 7.5 Agricultural 2.1 0.5 2.6 Total collateral-dependent loans $ 9.1 $ 50.4 $ 59.5 Collateral Type As of December 31, 2022 Business Assets Real Property Total Commercial real estate non-owner occupied $ 1.7 $ 2.7 $ 4.4 Commercial real estate owner occupied — 13.0 13.0 Land, acquisition and development construction real estate — 3.2 3.2 Residential 1-4 family — 0.5 0.5 Agricultural real estate 0.2 5.9 6.1 Commercial and floor plans 3.1 1.5 4.6 Agricultural 2.1 5.2 7.3 Total collateral-dependent loans $ 7.1 $ 32.0 $ 39.1 Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans classified in the following table as 90 days or more past due continue to accrue interest. The following tables present the contractual aging of the Company’s recorded amortized cost basis in loans by portfolio as of the dates indicated. Total Loans 30 - 59 60 - 89 90 or more 30 or More Days Days Days Days Current Non-accrual Total As of March 31, 2023 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 10.2 $ 1.6 $ 0.2 $ 12.0 $ 8,640.6 $ 28.2 $ 8,680.8 Construction: Land acquisition & development 3.2 0.1 0.2 3.5 364.5 0.5 368.5 Residential 0.4 — — 0.4 470.5 0.5 471.4 Commercial 0.6 — — 0.6 1,034.7 17.8 1,053.1 Total construction loans 4.2 0.1 0.2 4.5 1,869.7 18.8 1,893.0 Residential 6.1 0.5 0.4 7.0 2,177.1 7.0 2,191.1 Agricultural 7.2 — 0.3 7.5 756.3 5.9 769.7 Total real estate loans 27.7 2.2 1.1 31.0 13,443.7 59.9 13,534.6 Consumer: Indirect consumer 6.1 1.6 0.4 8.1 806.5 2.7 817.3 Other consumer 0.7 0.3 0.1 1.1 145.6 0.2 146.9 Credit card 0.5 0.4 0.6 1.5 70.0 — 71.5 Total consumer loans 7.3 2.3 1.1 10.7 1,022.1 2.9 1,035.7 Commercial 9.4 2.6 1.9 13.9 3,001.3 12.8 3,028.0 Agricultural 0.1 0.7 0.4 1.2 654.0 5.2 660.4 Other, including overdrafts — — — — 1.6 — 1.6 Loans held for investment $ 44.5 $ 7.8 $ 4.5 $ 56.8 $ 18,122.7 $ 80.8 $ 18,260.3 Total Loans 30 - 59 60 - 89 90 or more 30 or More Days Days Days Days Current Non-accrual Total As of December 31, 2022 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 5.6 $ 0.8 $ 1.1 $ 7.5 $ 8,501.5 $ 19.6 $ 8,528.6 Construction: Land acquisition & development 1.8 — 0.6 2.4 380.1 3.7 386.2 Residential 1.1 — — 1.1 515.1 — 516.2 Commercial 7.5 0.6 — 8.1 1,033.9 — 1,042.0 Total construction loans 10.4 0.6 0.6 11.6 1,929.1 3.7 1,944.4 Residential 9.9 2.1 1.2 13.2 2,168.7 6.4 2,188.3 Agricultural 1.1 6.1 — 7.2 780.1 7.6 794.9 Total real estate loans 27.0 9.6 2.9 39.5 13,379.4 37.3 13,456.2 Consumer: Indirect consumer 9.3 2.4 0.6 12.3 814.7 2.7 829.7 Other consumer 0.8 0.3 0.1 1.2 151.4 0.3 152.9 Credit card 0.8 0.4 0.6 1.8 74.1 — 75.9 Total consumer loans 10.9 3.1 1.3 15.3 1,040.2 3.0 1,058.5 Commercial 7.1 1.7 2.1 10.9 2,861.5 10.2 2,882.6 Agricultural 0.8 2.2 0.1 3.1 696.5 8.7 708.3 Other, including overdrafts — — — — 9.2 — 9.2 Loans held for investment $ 45.8 $ 16.6 $ 6.4 $ 68.8 $ 17,986.8 $ 59.2 $ 18,114.8 (1) As of March 31, 2023 and December 31, 2022, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans during the three months ended March 31, 2023 and 2022, respectively. There were $0.3 million and $1.0 million reversals of accrued interest at March 31, 2023 and March 31, 2022. respectively. Modifications to Borrowers Experiencing Financial Difficulty Modifications of loans are made in the ordinary course of business and are completed on a case-by-case basis through negotiation with the borrower in connection with the ongoing loan collection processes. Loan modifications are made to provide borrowers payment relief. Effective January 1, 2023, the Company adopted ASU 2022-02, which eliminated accounting guidance for troubled debt restructurings while requiring disclosures of borrowers experiencing financial difficulty for modifications related to principal reductions, interest rate reductions, term extensions, and more than insignificant payment delay. See “Note 17 – Recent Authoritative Accounting Guidance” of these Notes to Unaudited Consolidated Financial Statements” for further discussion of the amendments in this update. From time to time, we may modify certain loans to borrowers who are experiencing financial difficulty. In some cases, these modifications may result in new loans. Loan modifications to borrowers experiencing financial difficulty may be in the form of a principal forgiveness, an interest rate reduction, an other-than-insignificant payment delay, or a term extension or a combination thereof, among other things. The following table presents the amortized cost basis of loans at March 31, 2023 that were both experiencing financial difficulty and modified during the three months ended March 31, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below: Principal Forgiveness Term Extension Total % of Total Class of Loans Held for Investment (1) Commercial real estate non-owner occupied $ — $ 2.4 $ 2.4 0.1 % Commercial real estate owner occupied 1.6 1.3 2.9 0.1 % Land acquisition & development construction real estate — 0.2 0.2 0.1 Home equity and HELOC residential real estate 0.1 — 0.1 — Agricultural real estate — 1.2 1.2 0.2 Commercial and floor plans — 2.0 2.0 0.1 Commercial purpose 1-4 family — 0.6 0.6 0.1 Agricultural — 17.8 17.8 2.7 Loans held for investment (2) $ 1.7 $ 25.5 $ 27.2 0.2 % (1) Based on the amortized cost basis as of period end, divided by the period end amortized cost basis of the corresponding class of finance receivables. (2) As of March 31, 2023, the Company excluded $0.3 million in accrued interest from the amortized cost of the identified loans. The Company monitors the performance of loan modifications to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Loans that were modified during the three months ended March 31, 2023 are performing in accordance with the modified terms and are classified as current at March 31, 2023. There were no commitments to lend additional funds to borrowers experiencing financial difficulty whose terms have been modified during the three months ended March 31, 2023 in the form of a principal reduction, interest rate reduction, term extension, or other than insignificant payment delay. The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty during the three months ended March 31, 2023: Principal Forgiveness Weighted-Average Months of Term Extension Commercial real estate non-owner occupied $ — 4.0 Commercial real estate owner occupied 1.3 9.7 Land acquisition & development construction real estate — 12.4 Home equity and HELOC residential real estate 0.3 37.6 Agricultural real estate — 7.2 Commercial and floor plans — 11.5 Commercial purpose 1-4 family — 8.7 Agricultural — 9.3 Loans held for investment (1) $ 1.6 (1) Balances based on loan original contractual terms. There were no payment defaults on these loans subsequent to their modifications during the three months ended March 31, 2023. The Company considers a payment default to occur when the loan is 90 days or more past due or the loan is placed on non-accrual status after the modification. The Company monitors the performance of modified loans on an ongoing basis. In the event of subsequent default, the allowance for credit losses continues to be reassessed on the basis of an individual evaluation of each loan. The modifications made during the periods presented did not significantly impact the Company’s determination of the allowance for credit losses. Purchased Credit Deteriorated Loans (PCD) The Company analyzes all acquired loans at the time of acquisition for more-than-insignificant deterioration in credit quality since their origination date. Such loans are classified as PCD, also referred to as PCD loans. Acquired loans classified as PCD are recorded at an initial amortized cost, which is comprised of the purchase price of the loans plus the initial allowance for credit losses for the loans, and any resulting discount or premium related to factors other than credit. The Company accounts for interest income on PCD loans using the interest method, whereby any purchase discounts or premiums are accreted or amortized into interest income as an adjustment of the loan’s yield. The following table reconciles the par value, or initial amortized cost, of PCD loans acquired in the GWB acquisition as of February 1, 2022, or the date of the acquisition, with the purchase price (or initial fair value of the loans) as amended for measurement period adjustments: Purchase price (initial fair value) $ 623.3 Allowance for credit losses (1) 298.2 Discount attributable to other factors (2) 57.7 Par value (unpaid principal balance) $ 979.2 (1) For acquired PCD loans, an allowance of $298.2 million was required with a corresponding increase to the amortized cost basis as of the acquisition date. For PCD loans where all or a portion of the loan balance had been previously written-off by GWB, or would be subject to write-off under the Company’s charge-off policy, a CECL allowance of $238.7 million, included as part of the grossed-up loan balance at acquisition was immediately written-off. The net impact to the allowance for PCD assets on the acquisition date was $59.5 million. (2) Non-credit discount includes the difference between the amortized cost basis and the unpaid principal balance of $39.6 million established on PCD loans acquired from GWB and interest applied to principal of $18.1 million. Credit Quality Indicators As part of the on-going and continuous monitoring of the credit quality of the Company’s loan portfolio, management tracks internally assigned risk classifications of loans based on relevant information about the ability of borrowers to service their debt. The factors considered by the Company include, among other factors, the borrower’s current financial information, historical payment experience, credit documentation, public information, and current economic trends. The Company analyzes loans individually to classify the credit risk of the loans. This analysis generally includes loans with an outstanding balance greater than $1.0 million, which are generally considered non-homogeneous loans, such as commercial loans and commercial real estate loans. This analysis is performed no less than on an annual basis, depending upon the size of exposure and the contractual obligations governing the borrower’s financial reporting frequency. Homogeneous loans, including small business loans, are typically monitored by payment performance. The Company internally risk rates its loans in accordance with a Uniform Classification System developed jointly by the various bank regulatory agencies. The Uniform Classification System defines three broad categories of criticized assets, which the Company uses as credit quality indicators in addition to the 6 Pass ratings in its 10-point rating scale: Special Mention — includes loans that exhibit a potential weakness in financial condition, loan structure, or documentation that warrants management’s close attention. If not promptly corrected, the potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard — includes loans that are inadequately protected by the current net worth and paying capacity of the borrower which have well-defined weaknesses that jeopardize the liquidation of the debt. Although the primary source of repayment for a substandard loan may not currently be sufficient, collateral or other sources of repayment are sufficient to satisfy the debt. Continuance of a substandard loan is not warranted unless positive steps are taken to improve the worthiness of the credit. Doubtful — includes loans that exhibit pronounced weaknesses based on currently existing facts, conditions, and values to a point where collection or liquidation for full repayment is highly questionable and improbable. Doubtful loans are required to be placed on non-accrual status and are assigned specific loss exposure. Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered pass-rated loans. The Company evaluates the credit quality and loan performance for the allowance for credit losses of the following class of loans based on the aforementioned risk scale for the periods indicated: March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate non-owner occupied: Pass $ 239.8 $ 1,188.9 $ 790.1 $ 604.9 $ 435.3 $ 1,094.1 $ 29.3 $ 4,382.4 Special mention — — 1.3 1.4 14.1 10.4 — 27.2 Substandard — 5.2 18.0 8.0 20.9 12.1 — 64.2 Total $ 239.8 $ 1,194.1 $ 809.4 $ 614.3 $ 470.3 $ 1,116.6 $ 29.3 $ 4,473.8 Current-period gross charge-offs — — — 2.2 — 0.3 — 2.5 Commercial real estate owner occupied: Pass $ 124.7 $ 745.9 $ 677.9 $ 479.2 $ 245.6 $ 591.0 $ 11.4 $ 2,875.7 Special mention 2.0 4.8 14.4 13.0 6.1 21.2 3.0 64.5 Substandard 0.7 9.1 10.1 1.1 8.6 19.6 0.6 49.8 Doubtful — 0.3 1.4 — — — — 1.7 Total $ 127.4 $ 760.1 $ 703.8 $ 493.3 $ 260.3 $ 631.8 $ 15.0 $ 2,991.7 Current-period gross charge-offs — 0.1 1.7 — — — — 1.8 March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial multi-family: Pass $ 64.2 $ 413.2 $ 254.6 $ 234.0 $ 88.5 $ 156.9 $ 1.5 $ 1,212.9 Special mention — 0.4 — — — 1.7 — 2.1 Substandard — — — — — 0.3 — 0.3 Total $ 64.2 $ 413.6 $ 254.6 $ 234.0 $ 88.5 $ 158.9 $ 1.5 $ 1,215.3 Current-period gross charge-offs — — — — — — — — Land, acquisition and development: Pass $ 36.0 $ 145.5 $ 93.1 $ 33.7 $ 12.1 $ 29.3 $ 9.4 $ 359.1 Special mention — 6.7 0.1 — — 0.3 — 7.1 Substandard — — 0.2 0.2 1.6 0.3 — 2.3 Total $ 36.0 $ 152.2 $ 93.4 $ 33.9 $ 13.7 $ 29.9 $ 9.4 $ 368.5 Current-period gross charge-offs — — — — — — — — Residential construction: Pass $ 13.8 $ 107.3 $ 92.2 $ 0.4 $ 0.2 $ 6.1 $ 250.5 $ 470.5 Substandard — — 0.5 — — 0.4 — 0.9 Total $ 13.8 $ 107.3 $ 92.7 $ 0.4 $ 0.2 $ 6.5 $ 250.5 $ 471.4 Current-period gross charge-offs — — — — — — — — Commercial construction: Pass $ 60.2 $ 432.9 $ 370.9 $ 77.6 $ 8.2 $ — $ 22.4 $ 972.2 Special mention — 4.6 — 23.1 — — 13.7 41.4 Substandard — 1.2 24.4 — — — — 25.6 Doubtful — 13.9 — — — — — 13.9 Total $ 60.2 $ 452.6 $ 395.3 $ 100.7 $ 8.2 $ — $ 36.1 $ 1,053.1 Current-period gross charge-offs — — — — — — — — Agricultural real estate: Pass $ 16.4 $ 168.5 $ 166.7 $ 105.2 $ 61.9 $ 143.6 $ 31.4 $ 693.7 Special mention 0.1 0.9 0.3 1.8 1.8 14.6 9.7 29.2 Substandard 6.1 19.8 5.5 1.6 0.5 12.2 0.1 45.8 Doubtful — — — 1.0 — — — 1.0 Total $ 22.6 $ 189.2 $ 172.5 $ 109.6 $ 64.2 $ 170.4 $ 41.2 $ 769.7 Current-period gross charge-offs — — — — — — — — March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial and floor plans: Pass $ 152.5 $ 458.7 $ 315.9 $ 197.1 $ 109.9 $ 297.7 $ 700.4 $ 2,232.2 Special mention 0.6 8.0 11.8 1.3 1.2 2.7 29.0 54.6 Substandard 4.1 15.0 6.1 2.4 4.1 2.9 46.8 81.4 Doubtful — 2.3 1.2 — — — 2.6 6.1 Total $ 157.2 $ 484.0 $ 335.0 $ 200.8 $ 115.2 $ 303.3 $ 778.8 $ 2,374.3 Current-period gross charge-offs — 0.1 0.1 0.1 0.1 0.2 — 0.6 Commercial purpose secured by 1-4 family: Pass $ 35.2 $ 186.0 $ 129.2 $ 64.3 $ 29.3 $ 68.0 $ 27.7 $ 539.7 Special mention 0.6 0.1 1.1 3.2 0.2 0.8 — 6.0 Substandard 0.2 0.2 0.3 0.1 0.3 1.9 — 3.0 Total $ 36.0 $ 186.3 $ 130.6 $ 67.6 $ 29.8 $ 70.7 $ 27.7 $ 548.7 Current-period gross charge-offs — — — — — — — — Agricultural: Pass $ 24.5 $ 109.6 $ 53.2 $ 28.5 $ 8.8 $ 9.1 $ 342.0 $ 575.7 Special mention 0.4 0.6 1.0 0.5 0.5 0.1 8.1 11.2 Substandard 3.1 46.3 1.5 2.5 0.5 1.1 16.6 71.6 Total $ 28.0 $ 156.5 $ 55.7 $ 31.5 $ 9.8 $ 10.3 $ 366.7 $ 658.5 Current-period gross charge-offs — — — — — — — — December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate non-owner occupied: Pass $ 1,162.6 $ 861.3 $ 661.1 $ 467.6 $ 241.5 $ 890.4 $ 29.2 $ 4,313.7 Special mention 1.0 6.8 2.3 4.6 — 7.4 — 22.1 Substandard 0.1 13.9 10.8 18.2 19.6 9.8 — 72.4 Total $ 1,163.7 $ 882.0 $ 674.2 $ 490.4 $ 261.1 $ 907.6 $ 29.2 $ 4,408.2 Commercial real estate owner occupied: Pass $ 793.0 $ 718.7 $ 533.9 $ 266.3 $ 165.8 $ 551.3 $ 18.2 $ 3,047.2 Special mention 10.9 14.2 12.3 6.1 5.6 5.5 1.1 55.7 Substandard 8.4 3.0 2.3 8.9 8.5 17.2 0.5 48.8 Doubtful 0.4 1.4 — — — — — 1.8 Total $ 812.7 $ 737.3 $ 548.5 $ 281.3 $ 179.9 $ 574.0 $ 19.8 $ 3,153.5 Commercial multi-family: Pass $ 369.2 $ 204.9 $ 189.0 $ 52.1 $ 35.0 $ 113.7 $ 1.0 $ 964.9 Special mention — — — — — 1.7 — 1.7 Substandard — — — — — 0.3 — 0.3 Total $ 369.2 $ 204.9 $ 189.0 $ 52.1 $ 35.0 $ 115.7 $ 1.0 $ 966.9 December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Land, acquisition and development: Pass $ 152.5 $ 114.4 $ 29.5 $ 17.0 $ 10.9 $ 28.4 $ 22.2 $ 374.9 Special mention 6.7 — — — 0.2 0.3 — 7.2 Substandard — 0.3 0.2 — — 0.4 — 0.9 Doubtful — 3.2 — — — — — 3.2 Total $ 159.2 $ 117.9 $ 29.7 $ 17.0 $ 11.1 $ 29.1 $ 22.2 $ 386.2 Residential construction: Pass $ 118.4 $ 119.9 $ 0.4 $ 0.3 $ 0.4 $ 5.8 $ 270.1 $ 515.3 Substandard — 0.5 — — — 0.4 — 0.9 Total $ 118.4 $ 120.4 $ 0.4 $ 0.3 $ 0.4 $ 6.2 $ 270.1 $ 516.2 Commercial construction: Pass $ 442.7 $ 374.8 $ 89.7 $ 45.9 $ 0.4 $ — $ 10.6 $ 964.1 Special mention 2.3 — 23.1 — — — 11.3 36.7 Substandard 16.8 24.4 — — — — — 41.2 Total $ 461.8 $ 399.2 $ 112.8 $ 45.9 $ 0.4 $ — $ 21.9 $ 1,042.0 Agricultural real estate: Pass $ 180.0 $ 172.8 $ 109.5 $ 64.8 $ 46.6 $ 105.1 $ 31.4 $ 710.2 Special mention 22.4 0.7 1.2 2.6 10.0 3.2 11.0 51.1 Substandard 1.8 12.3 3.5 0.6 2.7 11.3 0.1 32.3 Doubtful — — 1.3 — — — — 1.3 Total $ 204.2 $ 185.8 $ 115.5 $ 68.0 $ 59.3 $ 119.6 $ 42.5 $ 794.9 Commercial and floor plans: Pass $ 501.7 $ 358.9 $ 214.4 $ 124.3 $ 120.3 $ 171.1 $ 631.6 $ 2,122.3 Special mention 15.9 6.8 1.3 4.4 0.9 4.9 18.5 52.7 Substandard 9.8 3.3 3.7 3.4 3.2 2.1 47.2 72.7 Doubtful 0.3 1.3 — — — — 0.1 1.7 Total $ 527.7 $ 370.3 $ 219.4 $ 132.1 $ 124.4 $ 178.1 $ 697.4 $ 2,249.4 Commercial purpose secured by 1-4 family: Pass $ 191.7 $ 134.5 $ 69.8 $ 30.4 $ 29.9 $ 39.5 $ 28.9 $ 524.7 Special mention 0.1 1.2 2.1 0.2 1.4 0.2 — 5.2 Substandard 0.2 0.3 0.1 0.3 0.9 1.2 — 3.0 Total $ 192.0 $ 136.0 $ 72.0 $ 30.9 $ 32.2 $ 40.9 $ 28.9 $ 532.9 Agricultural: Pass $ 127.2 $ 59.7 $ 31.8 $ 10.6 $ 8.6 $ 3.1 $ 375.1 $ 616.1 Special mention 26.1 2.8 0.4 1.0 0.3 — 26.2 56.8 Substandard 22.8 4.6 2.8 0.6 1.2 0.2 0.8 33.0 Doubtful — 0.5 — — — — — 0.5 Total $ 176.1 $ 67.6 $ 35.0 $ 12.2 $ 10.1 $ 3.3 $ 402.1 $ 706.4 The Company evaluates the credit quality, loan performance, and the allowance for credit losses of its residential and consumer loan portfolios based primarily on the aging status of the loan and borrower payment activity. Accordingly, loans on nonaccrual status, loans past due 90 days or more and still accruing interest are considered nonperforming for purposes of credit quality evaluation. The following tables present the recorded investment of these loan portfolios based on the credit risk profile of loans that are performing and loans that are nonperforming as of the periods indicated: March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Residential 1-4 family: Performing $ 13.3 $ 266.1 $ 508.2 $ 532.9 $ 95.2 $ 232.5 $ — $ 1,648.2 Nonperforming — — 0.3 0.1 0.4 3.6 — 4.4 Total $ 13.3 $ 266.1 $ 508.5 $ 533.0 $ 95.6 $ 236.1 $ — $ 1,652.6 Current-period gross charge-offs — — — — — 0.1 — 0.1 Consumer home equity and HELOC: Performing $ 4.7 $ 22.9 $ 7.0 $ 4.6 $ 5.2 $ 18.7 $ 472.3 $ 535.4 Nonperforming 0.1 0.6 0.5 0.2 0.2 1.3 0.2 3.1 Total $ 4.8 $ 23.5 $ 7.5 $ 4.8 $ 5.4 $ 20.0 $ 472.5 $ 538.5 Current-period gross charge-offs 0.3 — — 0.1 — — — 0.4 Consumer indirect: Performing $ 63.4 $ 352.8 $ 159.2 $ 116.4 $ 52.1 $ 70.3 $ — $ 814.2 Nonperforming — 0.8 1.1 0.5 0.2 0.5 — 3.1 Total $ 63.4 $ 353.6 $ 160.3 $ 116.9 $ 52.3 $ 70.8 $ — $ 817.3 Current-period gross charge-offs — 0.9 0.6 0.2 — 0.1 — 1.8 Consumer direct and advance line: Performing $ 11.2 $ 47.4 $ 28.0 $ 15.6 $ 7.2 $ 13.2 $ 23.9 $ 146.5 Nonperforming — 0.1 0.1 0.1 — 0.1 — 0.4 Total $ 11.2 $ 47.5 $ 28.1 $ 15.7 $ 7.2 $ 13.3 $ 23.9 $ 146.9 Current-period gross charge-offs — 0.2 0.1 — — 0.7 0.1 1.1 December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Residential 1-4 family: Performing $ 258.9 $ 490.3 $ 541.6 $ 98.0 $ 32.0 $ 213.8 $ — $ 1,634.6 Nonperforming — 0.2 0.1 0.5 0.3 3.7 — 4.8 Total $ 258.9 $ 490.5 $ 541.7 $ 98.5 $ 32.3 $ 217.5 $ — $ 1,639.4 Consumer home equity and HELOC: Performing $ 23.8 $ 8.0 $ 5.2 $ 5.5 $ 5.6 $ 15.2 $ 482.8 $ 546.1 Nonperforming 0.6 0.3 0.2 0.2 0.1 1.2 0.2 2.8 Total $ 24.4 $ 8.3 $ 5.4 $ 5.7 $ 5.7 $ 16.4 $ 483.0 $ 548.9 Consumer indirect: Performing $ 380.3 $ 176.4 $ 130.0 $ 59.7 $ 33.6 $ 46.3 $ — $ 826.3 Nonperforming 1.0 0.9 0.6 0.3 0.2 0.4 — 3.4 Total $ 381.3 $ 177.3 $ 130.6 $ 60.0 $ 33.8 $ 46.7 $ — $ 829.7 Consumer direct and advance line: Performing $ 52.6 $ 31.9 $ 18.2 $ 8.5 $ 6.5 $ 8.9 $ 25.8 $ 152.4 Nonperforming 0.1 0.1 0.1 — — 0.1 0.1 0.5 Total $ 52.7 $ 32.0 $ 18.3 $ 8.5 $ 6.5 $ 9.0 $ 25.9 $ 152.9 While the Company considers the performance of the loan portfolio on the allowance for credit losses, for certain credit card loan classes, the Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity of the credit card holder. The following table presents the recorded investment in credit card loans based on payment activity for the periods indicated: As of March 31, 2023 Consumer Commercial Agricultural Total Credit Card: Performing $ 70.9 $ 104.6 $ 1.9 $ 177.4 Nonperforming 0.6 0.4 — 1.0 Total credit card $ 71.5 $ 105.0 $ 1.9 $ 178.4 Current-period gross charge-offs $ 0.5 $ 0.1 $ — $ 0.6 As of December 31, 2022 Consumer Commercial Agricultural Total Credit Card: Performing $ 75.4 $ 100.0 $ 1.9 $ 177.3 Nonperforming 0.5 0.3 — 0.8 Total credit card $ 75.9 $ 100.3 $ 1.9 $ 178.1 |
Other Real Estate Owned
Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2023 | |
Repossessed Assets [Abstract] | |
Other Real Estate Owned | Other Real Estate Owned Other real estate owned is a category of real estate owned by the Company as a result of a default by the borrower. Information with respect to the Company’s other real estate owned is reflected in the following table: Three Months Ended March 31, 2023 2022 Beginning balance $ 12.7 $ 2.0 Acquired through acquisition — 15.8 Additions 0.8 — Valuation adjustments (0.1) — Dispositions — (0.3) Ending balance $ 13.4 $ 17.5 The carrying value of foreclosed residential real estate properties included in other real estate owned was $0.6 million as of March 31, 2023 and was not material as of December 31, 2022. The Company had $0.3 million and no material recorded investments in consumer mortgage loans secured by residential real estate for which formal foreclosure proceedings were in process of foreclosure as of March 31, 2023 and December 31, 2022, respectively. |
Derivatives and Hedging Activit
Derivatives and Hedging Activities | 3 Months Ended |
Mar. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative and Hedging Activities | Derivatives and Hedging ActivitiesThe Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through the management of its business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and through the use of derivative financial instruments. The Company enters into derivative financial instruments, such as interest rate swap contracts to manage or hedge exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates and interest rate exposures. The Company does not enter into interest rate swap agreements for trading or speculative purposes. In the normal course of business, the Company enters into interest rate lock commitments to finance residential mortgage loans that are not designated as accounting hedges. These commitments, which contain fixed expiration dates, offer the borrower an interest rate guarantee, provided the loan meets underwriting guidelines, and closes within the timeframe established by the Company. Interest rate risk arises on these commitments and subsequently on closed loans if interest rates change between the time of the interest rate lock and the delivery of the loan to the investor. Loan commitments related to residential mortgage loans intended to be sold are considered derivatives and are recorded at fair value with changes in fair value recorded through earnings. The Company sells residential mortgage loans on either a best efforts or mandatory delivery basis. The Company mitigates the effect of the interest rate risk inherent in providing interest rate lock commitments by entering into forward loan sales contracts. The forward loan sales contracts are recorded at fair value with changes in fair value recorded through earnings and are not designated as accounting hedges. Exclusive of the fair value component associated with the projected cash flows from the loan delivery to the investor, the changes in fair value related to movements in market rates of the interest rate lock commitments and the forward loan sales contracts generally move in opposite directions, and the net impact of changes in these valuations on net income during the loan commitment period is generally inconsequential. When the loan is funded to the borrower, the interest rate lock commitment derivative expires, and the Company records a loan held for sale. The forward loan sales contract acts as a hedge against the variability in cash to be received from the loan sale. The changes in measurement of the estimated fair values of the interest rate lock commitments and forward loan sales contracts are included in mortgage banking revenues in the accompanying consolidated statements of income (loss). The Company also enters into certain interest rate swap contracts that are not designated as hedging instruments. These derivative contracts relate to transactions in which the Company enters into an interest rate swap with a client while at the same time entering into an offsetting interest rate swap with a third-party financial institution. Because the Company acts as an intermediary for the client, changes in the fair value of the underlying derivative contracts for the most part offset each other and do not significantly impact the Company’s results of operations. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest income (expense) and to manage its exposure to interest rate movements. To accomplish these objectives, the Company primarily uses interest rate swaps and collars as part of its interest rate risk management strategy. Interest rate swaps that were designated as cash flow hedges on the variable-rate borrowings (trust preferred securities) involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. During 2021 and the first quarter of 2022, such derivatives were used to hedge the variable cash flows associated with the existing trust preferred securities. The trades that the Company had in place on its trust preferred securities matured during the first and second quarters of 2022. As part of the Company’s overall asset and liability management strategy, in August 2022 the Company entered into two interest rate collars related to variable-rate loans that were designated as cash flow hedges with a total notional amount of $300.0 million. Each of the collars designated as cash flow hedges synthetically fixes the interest income received by the Company when the collar index falls below a floor rate on a rate reset during the term of the collar and when the collar index exceeds the cap rate on a rate reset during the term of the collar without exchange of the underlying notional amount. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive income and subsequently reclassified into interest income (expense) in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income related to derivatives will be reclassified as interest income (expense) when interest payments are made on the Company’s variable-rate liabilities. During the next twelve months, the Company estimates that $5.1 million will be reclassified as an increase to interest expense. Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of fixed-rate assets due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate. Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. During the third quarter of 2022, the Company terminated the $200.0 million, three-year forward starting, four-year pay fixed interest rate swap, resulting in a $8.5 million gain that will be accreted into income through July 2028. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. The following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustment for fair value hedges for the periods indicated: March 31, 2023 December 31, 2022 Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Available-for-sale securities $ 192.2 $ 7.8 $ 191.9 $ 8.1 Non-designated Hedge Derivatives Derivatives not designated as accounting hedges are not speculative and result from a service the Company provides to certain customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting derivatives that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings. Risk Participation Agreements The Company acquired from GWB risk participation agreements under which it assumes credit risk associated with a borrower’s performance related to derivative contracts. The Company only entered into these credit risk participation agreements in instances in which the Company was also a party to the related loan participation agreements for such borrowers. The Company manages its credit risk under risk participation agreements by monitoring the creditworthiness of the borrower, based on its normal credit review process. The following table summarizes the fair values of our derivative instruments on a gross and net basis for the periods indicated. The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to take into account the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the consolidated balance sheets. March 31, 2023 December 31, 2022 Notional Amount Consolidated Balance Sheet Location Estimated Notional Amount Consolidated Balance Sheet Location Estimated Derivatives designated as accounting hedges: Interest rate swap contracts $ 850.0 $ 11.7 $ 550.0 $ 3.5 Derivatives not designated as accounting hedges: Interest rate swap contracts 1,674.7 31.1 1,728.1 41.6 Interest rate lock commitments 36.2 0.3 — — Forward loan sales contracts — — 12.6 0.1 Derivative assets $ 2,560.9 Other assets $ 43.1 $ 2,290.7 Other assets $ 45.2 Derivatives designated as accounting hedges: Interest rate collars $ 300.0 $ 3.9 $ 300.0 $ 5.4 Interest rate swap contracts — — 300.0 0.3 Derivatives not designated as accounting hedges: Interest rate swap contracts 1,674.7 122.7 1,728.1 153.9 Risk participation agreements 104.7 — 106.1 — Interest rate lock commitments — — 14.8 — Forward loan sales contracts 32.2 0.1 — — Derivative liabilities $ 2,111.6 Accounts payable and accrued expenses $ 126.7 $ 2,449.0 Accounts payable and accrued expenses $ 159.6 There was a $7.8 million unrealized fair value gain on cash flow hedging derivative instruments in accumulated other comprehensive income during the three months ended March 31, 2023. There were no material effects of derivative instruments in fair value or cash flow hedge accounting on accumulated other comprehensive loss during the three months ended March 31, 2022. There were no material effects from the Company’s fair value or cash flow hedged derivative financial instruments on the consolidated statements of income (loss) during the three months ended March 31, 2023 or 2022. The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the consolidated statements of income (loss) for the periods indicated: Three Months Ended March 31, 2023 2022 Location of (Loss) Gain Recognized in Income on Derivative Amount of Loss (Gain) Recognized in Income on Derivative Interest rate lock commitments Mortgage banking revenues $ 0.1 $ (0.5) The Company recorded swap fee revenues of $0.1 million and $2.0 million for the three months ended March 31, 2023 and March 31, 2022. The Company includes swap fee revenues in other service charges, commissions, and fees on the consolidated statements of income (loss). The tables below present the gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of the dates indicated: March 31, 2023 Gross Assets Recognized Gross Assets Offset in the Balance Sheet Net Assets in the Balance Sheet Financial Instruments Cash Collateral Received (1) Net Amount Interest rate swap contracts $ 42.8 $ — $ 42.8 $ — $ 42.8 $ — Mortgage related derivatives 0.3 — 0.3 — — 0.3 Total derivatives 43.1 — 43.1 — 42.8 0.3 Total assets $ 43.1 $ — $ 43.1 $ — $ 42.8 $ 0.3 (1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above. Gross Liabilities Recognized Gross Liabilities Offset in the Balance Sheet Net Liabilities in the Balance Sheet Financial Instruments Cash Collateral Posted Net Amount Interest rate swap and collar contracts $ 126.6 $ — $ 126.6 $ — $ — $ 126.6 Mortgage related derivatives 0.1 — 0.1 — — 0.1 Total derivatives 126.7 — 126.7 — — 126.7 Repurchase agreements 970.8 — 970.8 — 970.8 — Total liabilities $ 1,097.5 $ — $ 1,097.5 $ — $ 970.8 $ 126.7 December 31, 2022 Gross Assets Recognized Gross Assets Offset in the Balance Sheet Net Assets in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Interest rate swap contracts $ 45.1 $ — $ 45.1 $ — $ 45.1 $ — Mortgage related derivatives 0.1 — 0.1 — — 0.1 Total derivatives 45.2 — 45.2 — 45.1 0.1 Total assets $ 45.2 $ — $ 45.2 $ — $ 45.1 $ 0.1 Gross Liabilities Recognized Gross Liabilities Offset in the Balance Sheet Net Liabilities in the Balance Sheet Financial Instruments Cash Collateral Posted Net Amount Interest rate swap contracts $ 159.6 $ — $ 159.6 $ — $ — $ 159.6 Total derivatives 159.6 — 159.6 — — 159.6 Repurchase agreements 1,052.9 — 1,052.9 — 1,052.9 — Total liabilities $ 1,212.5 $ — $ 1,212.5 $ — $ 1,052.9 $ 159.6 Credit-risk-related Contingent Feature The Company has agreements with each of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well / adequately capitalized institution, then in certain instances the Company could be required to post additional capital and in certain instances the counterparty would have the right to terminate the derivative positions and the Company would be required to settle its obligations under the agreements. |
Capital Stock
Capital Stock | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Capital Stock | Capital Stock The Company completed the stock repurchase program adopted by the Company’s board of directors in 2022 and the Company’s board of directors has not authorized a stock repurchase program for 2023. Stock repurchases during the three months ended March 31, 2023 and 2022, were redemptions of vested restricted shares tendered in lieu of cash for payment of income tax withholding amounts by participants in the Company’s equity compensation plans. |
Earnings per Common Share
Earnings per Common Share | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | Earnings (loss) per Common Share Basic earnings per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period presented, excluding unvested restricted stock. Diluted earnings per share is calculated by dividing net income (loss) by the weighted average number of common shares determined for the basic earnings per share computation plus the dilutive effects of stock-based compensation using the treasury stock method. The following table sets forth the computation of basic and diluted earnings per share for the periods presented: Three Months Ended March 31, 2023 2022 Net income (loss) $ 56.3 $ (33.4) Weighted average common shares outstanding for basic earnings per share computation 103,737,664 92,855,173 Dilutive effects of stock-based compensation 81,055 — Weighted average common shares outstanding for diluted earnings per common share computation 103,818,719 92,855,173 Basic earnings (loss) per common share $ 0.54 $ (0.36) Diluted earnings (loss) per common share $ 0.54 $ (0.36) Anti-dilutive unvested time restricted stock 132,410 55,504 The Company had 330,408 and 537,374 shares of unvested restricted stock as of March 31, 2023 and 2022, respectively, that were not included in the computation of diluted earnings per common share because performance conditions for vesting had not been met. As a result of incurring a net loss during the three months ended March 31, 2022, potential common shares of 71,379 were excluded from diluted loss per share because the effect would have been anti-dilutive. |
Regulatory Capital
Regulatory Capital | 3 Months Ended |
Mar. 31, 2023 | |
Banking and Thrift, Other Disclosure [Abstract] | |
Regulatory Capital | As of March 31, 2023 and December 31, 2022, the Company exceeded all capital adequacy requirements to which it is subject. Actual capital amounts and ratios for the Company and its subsidiary Bank, as of March 31, 2023 and December 31, 2022 are presented in the following tables: Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer (1) Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements (2) March 31, 2023 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 2,899.0 12.63 % $ 1,836.6 8.00 % $ 2,410.6 10.50 % $ 2,295.8 10.00 % FIB 2,740.5 11.96 1,833.0 8.00 2,405.8 10.50 2,291.2 10.00 Tier 1 risk-based capital: Consolidated 2,415.4 10.52 1,377.5 6.00 1,951.4 8.50 1,836.6 8.00 FIB 2,514.5 10.97 1,374.7 6.00 1,947.5 8.50 1,833.0 8.00 Common equity tier 1 risk-based capital: Consolidated 2,415.4 10.52 1,033.1 4.50 1,607.1 7.00 1,492.3 6.50 FIB 2,514.5 10.97 1,031.0 4.50 1,603.8 7.00 1,489.3 6.50 Leverage capital ratio: Consolidated 2,415.4 7.72 1,251.6 4.00 1,251.6 4.00 1,564.5 5.00 FIB 2,514.5 8.05 1,249.8 4.00 1,249.8 4.00 1,562.2 5.00 Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer (1) Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements (2) December 31, 2022 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 2,875.8 12.48 % $ 1,843.2 8.00 % $ 2,419.2 10.50 % $ 2,304.0 10.00 % FIB 2,713.5 11.80 1,839.6 8.00 2,414.5 10.50 2,299.5 10.00 Tier 1 risk-based capital: Consolidated 2,408.8 10.45 1,382.4 6.00 1,958.4 8.50 1,843.2 8.00 FIB 2,504.1 10.89 1,379.7 6.00 1,954.6 8.50 1,839.6 8.00 Common equity tier 1 risk-based capital: Consolidated 2,408.8 10.45 1,036.8 4.50 1,612.8 7.00 1,497.6 6.50 FIB 2,504.1 10.89 1,034.8 4.50 1,609.7 7.00 1,494.7 6.50 Leverage capital ratio: Consolidated 2,408.8 7.75 1,242.9 4.00 1,242.9 4.00 1,553.6 5.00 FIB 2,504.1 8.07 1,241.1 4.00 1,241.1 4.00 1,551.4 5.00 (1) The capital conservation buffer is an additional 2.5% of the amount necessary to meet the minimum risk-based capital requirements for total, tier 1, and common equity tier 1 risk-based capital. (2) The ratios to meet the requirements to be deemed “well-capitalized” are only applicable to FIB. However, the Company manages its capital position as if the requirements apply to the consolidated company and has presented the ratios as if they also applied on a consolidated basis. In connection with the adoption of the Current Expected Credit Loss |
Commitments and Contingencies
Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Commitments and Contingencies In the normal course of business, the Company is involved in various claims and litigation. The Company establishes accruals for legal matters when potential losses associated with the actions become probable and the amount of loss can be reasonably estimated. There is no assurance that the ultimate resolution of these matters will not significantly exceed the amounts that the Company has accrued. Accruals for legal matters are based on management’s best judgment after consultation with counsel and others. In the opinion of management, following consultation with legal counsel, the ultimate liability or disposition of all such claims and litigation is not expected to have a material adverse effect on the consolidated financial condition, results of operations, or liquidity of the Company. As of March 31, 2023, the Company had commitments under construction contracts of $6.5 million. |
Financial Instruments with Off-
Financial Instruments with Off-Balance Sheet Risk | 3 Months Ended |
Mar. 31, 2023 | |
Financial Instruments with Off-Balance Sheet Risk [Abstract] | |
Financial Instruments with Off-Balance Sheet Risk | In the normal course of business, the Company is a party to financial instruments with off-balance sheet risk to meet the financing needs of its clients. These financial instruments include commitments to extend credit and standby letters of credit. These instruments involve, to varying degrees, elements of credit and interest rate risk in excess of amounts recorded in the consolidated balance sheets. Commitments to extend credit are agreements to lend to a client so long as there is no violation of any condition established in the commitment contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a client to a third party. The credit risk involved in issuing letters of credit is essentially the same as the credit risk involved in extending loan facilities to clients. The Company’s policy for obtaining collateral, and determining the nature of such collateral, is essentially the same as in the Company’s policies for making commitments to extend credit. The estimated fair value of the obligation undertaken by the Company in issuing standby letters of credit is included in accounts payable and accrued expenses in the Company’s consolidated balance sheets. The following table presents our financial instruments with off-balance sheet risk, as well as the activity in the allowance for off-balance sheet credit losses related to those financial instruments: Three Months Ended March 31, 2023 2022 Beginning balance $ 16.2 $ 3.8 Provision for credit loss expense 1.6 2.4 Ending balance $ 17.8 $ 6.2 March 31, 2023 December 31, 2022 Unused credit card lines $ 819.8 $ 827.6 Commitments to extend credit 4,976.5 5,173.3 Standby letters of credit 83.0 93.8 |
Other Comprehensive Income_Loss
Other Comprehensive Income/Loss | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Other Comprehensive Income/Loss | Other Comprehensive Income (Loss) The gross amounts of each component of other comprehensive income (loss) and the related tax effects are as follows: Pre-tax Tax Expense (Benefit) Net of Tax Three Months Ended March 31, 2023 2022 2023 2022 2023 2022 Investment securities available-for sale: Change in net unrealized gains (losses) during the period $ 78.2 $ (252.6) $ 19.6 $ (62.7) $ 58.6 $ (189.9) Reclassification adjustment for net losses included in income 23.4 0.1 5.8 — 17.6 0.1 Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale (7.2) 0.2 (1.8) 0.1 (5.4) 0.1 Net change in unamortized losses on available-for-sale investment securities transferred into held-to-maturity (0.4) (23.0) (0.1) (5.7) (0.3) (17.3) Change in net unrealized loss on derivatives 10.0 21.3 2.5 5.3 7.5 16.0 Total other comprehensive income (loss) $ 104.0 $ (254.0) $ 26.0 $ (63.0) $ 78.0 $ (191.0) The components of accumulated other comprehensive loss, net of related tax effects, are as follows: March 31, 2023 December 31, 2022 Net unrealized loss on investment securities available-for-sale $ (400.2) $ (471.0) Net unrealized loss on investment securities transferred to held-to-maturity (4.9) (4.5) Net unrealized gain (loss) on derivatives 6.0 (1.6) Net accumulated other comprehensive loss $ (399.1) $ (477.1) |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. There is a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs to measure fair value are as follows: • 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 assets or liabilities The methodologies used by the Company in determining the fair values of each class of financial instruments are based primarily on independent, market-based data to reflect a value that would be reasonably expected in an orderly transaction between market participants at the measurement date, and therefore, are classified within Level 2 of the valuation hierarchy. There have been no significant changes in the valuation techniques during the three months ended March 31, 2023 and 2022. The Company’s policy is to recognize transfers between levels as of the end of the reporting period. Transfers in and out of Level 1, Level 2, and Level 3 are recognized on the actual transfer date. There were no significant transfers between fair value hierarchy levels during the three months ended March 31, 2023 and 2022. Further details on the methods used to estimate the fair value of each class of financial instruments above are discussed below: Investment Debt Securities Available-for-Sale . The Company obtains fair value measurements for investment securities 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 investment’s terms and conditions, among others. Vendors chosen by the Company are widely recognized vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers. If needed, a broker may be utilized to determine the reported fair value of investment securities. Loans Held for Sale. Fair value measurements for residential mortgage loans held for sale are obtained from an independent pricing service. The fair value measurements consider observable data that may include binding contracts or quotes or bids from third party investors as well as loan level pricing adjustments. Commercial and agricultural loans held for sale are derived from quotes or bids from third party investors. Interest Rate Collars: The fair values of interest rate collars are obtained from an independent third party. The values are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates fell below (rise above) the strike rate of the floors (caps). The variable interest rates used in the calculation of projected receipts on the collars are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The change in the value of derivative assets attributable to basis risk, or the risk that offsetting investments in a hedging strategy will not experience price changes in entirely opposite directions, was not significant in the reported periods. The Company also compares the reasonableness of the pricing semi-annually through a validation process involving additional independent third parties. Interest Rate Swap Contracts. Fair values for derivative interest rate swap contracts are obtained from an independent third party. The values are based upon the estimated amounts to settle the contracts considering current interest rates and are calculated using discounted cash flows that are observable or that can be corroborated by observable market data. The inputs used to determine fair value include the three-month LIBOR forward curve to estimate variable rate cash inflows and the Secured Overnight Financing Rate to estimate the discount rate. The estimated variable rate cash inflows are compared to the fixed rate outflows and such difference is discounted to a present value to estimate the fair value of the interest rate swaps. The change in the value of derivative assets attributable to basis risk, or the risk that offsetting investments in a hedging strategy will not experience price changes in entirely opposite directions, was not significant in the reported periods. The Company also compares the reasonableness of the pricing semi-annually through a validation process involving additional independent third parties. For purposes of potential valuation adjustments to our derivative positions, we evaluate both our credit risk and the credit risk of our counterparties. Accordingly, we have considered factors such as the likelihood of our default and the default of our counterparties, our net exposures and remaining contractual life, among other things, in determining if any fair value adjustments related to credit risk are required. The change in value of derivative assets and derivative liabilities attributable to credit risk was not significant during the reported periods. Interest Rate Lock Commitments. Fair value measurements for interest rate lock commitments are obtained from an independent pricing service. The fair value measurements consider observable data that may include prices available from secondary market investors taking into consideration various characteristics of the loan, including the loan amount, interest rate, value of the servicing, and loan to value ratio, among other things. Observable data is then adjusted to reflect changes in interest rates, the Company’s estimated pull-through rate, and estimated direct costs necessary to complete the commitment into a closed loan net of origination, and processing fees collected from the borrower. Forward Loan Sales Contracts. The fair value measurements for forward loan sales contracts are obtained from an independent pricing service. The fair value measurements consider observable data that includes sales of similar loans. Deferred Compensation Plan Assets and Liabilities. The fair values of deferred compensation plan assets and liabilities are based primarily on the use of independent, market-based data to reflect a value that would be reasonably expected in an orderly transaction between market participants at the measurement date. These investments are in the same funds and purchased in the same amounts as the participants’ selected investments, which represent the underlying liabilities to plan participants. Deferred compensation plan liabilities are recorded at amounts due to participants, based on the fair value of participants’ selected investments. Financial assets and financial liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using As of March 31, 2023 Fair Value Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: U.S. Treasury notes $ 223.2 $ — $ 223.2 $ — State, county, and municipal securities 221.1 — 221.1 — Obligations of U.S. government agencies 174.1 — 174.1 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 3,858.4 — 3,858.4 — Private mortgage-backed securities 225.1 — 225.1 — Collateralized loan obligations 1,113.9 — 1,113.9 — Corporate securities 233.5 — 233.5 — Loans held for sale 16.0 — 8.5 7.5 Derivative assets: Interest rate swap contracts 42.8 — 42.8 — Interest rate lock commitments 0.3 — 0.3 — Derivative liabilities: Interest rate collars 3.9 — 3.9 — Interest rate swap contracts 122.7 — 122.7 — Forward loan sale contracts 0.1 — 0.1 — Deferred compensation plan assets 17.3 — 17.3 — Deferred compensation plan liabilities 17.3 — 17.3 — Fair Value Measurements at Reporting Date Using As of December 31, 2022 Fair Value Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: U.S. Treasury notes $ 642.7 $ — $ 642.7 $ — State, county and municipal securities 263.7 — 263.7 — Obligations of U.S. government agencies 198.9 — 198.9 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 4,259.7 — 4,259.7 — Private mortgage-backed securities 228.0 — 228.0 — Collateralized loan obligations 1,111.6 — 1,111.6 — Corporate securities 241.5 — 241.5 — Loans held for sale 12.4 — 6.9 5.5 Derivative assets: Interest rate swap contracts 45.1 — 45.1 — Forward loan sales contracts 0.1 — 0.1 — Derivative liabilities Interest rate collars 5.4 — 5.4 — Interest rate swap contracts 154.2 — 154.2 — Deferred compensation plan assets 18.7 — 18.7 — Deferred compensation plan liabilities 18.7 — 18.7 — Additionally, from time to time, certain assets are measured at fair value on a non-recurring basis. Adjustments to fair value generally result from the application of lower-of-cost-or-market accounting or write-downs of individual assets due to credit deterioration. The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis: Fair Value Measurements at Reporting Date Using As of March 31, 2023 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral-dependent loans $ 59.5 $ — $ — $ 59.5 Loans held for sale 64.9 — — 64.9 Other real estate owned 13.4 — — 13.4 Long-lived assets to be disposed of by sale 5.0 — — 5.0 Fair Value Measurements at Reporting Date Using As of December 31, 2022 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral-dependent loans $ 39.1 $ — $ — $ 39.1 Loans held for sale 67.5 — — 67.5 Other real estate owned 12.7 — — 12.7 Long-lived assets to be disposed of by sale 5.5 — — 5.5 Collateral-dependent Loans. Collateral-dependent loans are reported at the fair value of the underlying collateral if repayment is expected solely from collateral. The collateral-dependent loans are reported at fair value through specific valuation allowance allocations. In addition, when it is determined that the fair value of a collateral-dependent loan is less than the recorded investment in the loan, the carrying value of the loan is adjusted to fair value through a charge to the allowance for credit losses. Collateral values are estimated using independent appraisals and management estimates of current market conditions. As of March 31, 2023 and December 31, 2022, the Company had collateral-dependent loans with a carrying and fair value of $59.5 million and $39.1 million, respectively. Loans Held for Sale. Fair value measurements for non-residential mortgage loans held for sale are derived from valuations, appraisals, and quotes or bids from third party investors. The fair value measurements consider observable data that may include binding contracts or quotes or bids from third party investors as well as loan level pricing adjustments. OREO. The fair values of OREO are estimated using independent appraisals and management estimates of current market conditions. Upon initial recognition, write-downs based on the foreclosed asset’s fair value at foreclosure are reported through charges to the allowance for credit losses. Periodically, the fair value of foreclosed assets is remeasured with any subsequent write-downs charged to OREO expense in the period in which they are identified. The Company had $0.1 million and no material write downs on OREO properties during the three months ended March 31, 2023 and 2022, respectively. Long-lived Assets to be Disposed of by Sale. Long-lived assets to be disposed of by sale are carried at the lower of carrying value or fair value less estimated costs to sell. The fair values of long-lived assets to be disposed of by sale are based upon observable market data and management estimates of current market conditions. As of March 31, 2023, the Company had long-lived assets to be disposed of by sale with carrying values aggregating $5.1 million, reduced by write-downs of $0.1 million charged to other expense, and fair values aggregating $5.0 million. As of December 31, 2022, the Company had long-lived assets to be disposed of by sale with carrying values aggregating $5.7 million, reduced by write-downs of $0.2 million charged to other expense, and fair values aggregating $5.5 million. The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair values: Fair Value As of March 31, 2023 December 31, 2022 Valuation Unobservable Range Collateral-dependent loans $ 59.5 $ 39.1 Appraisal Appraisal adjustment 0% - 45% (7%) Loans held for sale 64.9 67.5 Fair value of collateral Discount for type of property, age of appraisal, and current status 11% - 23% (17%) Other real estate owned 13.4 12.7 Appraisal Appraisal adjustment 15% - 36% (22%) Long-lived assets to be disposed of by sale 5.0 5.5 Appraisal Appraisal adjustment 0% - 6% (3%) The Company is required to disclose the fair value of financial instruments for which it is practical to estimate fair value. The methodologies for estimating the fair value of financial instruments that are measured at fair value on a recurring or non-recurring basis are discussed above. The methodologies for estimating the fair value of other financial instruments are discussed below. For financial instruments bearing a variable interest rate where no credit risk exists, it is presumed that recorded book values are reasonable estimates of fair value. Financial Assets. Carrying values of cash, cash equivalents, and accrued interest receivable approximate fair values due to the liquid and/or short-term nature of these instruments. Fair values for investment securities held-to-maturity are obtained from an independent pricing service, which considers 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 investment’s terms and conditions, among other things. Fair values of fixed rate loans and variable rate loans that reprice on an infrequent basis are estimated by discounting future cash flows using current interest rates at which similar loans with similar terms would be made to borrowers of similar credit quality using an exit price notion. Carrying values of variable rate loans that reprice frequently, and with no change in credit risk, approximate the fair values of these instruments. Financial Liabilities. The fair values of demand deposits, savings accounts, securities sold under repurchase agreements, and accrued interest payable are the amounts that are payable on demand at the reporting date. The fair values of fixed-maturity certificates of deposit are estimated using external market rates that are currently offered for deposits that have similar remaining maturities. The fair values of derivative liabilities are obtained from an independent pricing service, which considers observable data that may include the three-month LIBOR forward curve, the federal funds effective swap rate and cash flows, among other things. The fixed and floating rate subordinated debentures, floating rate subordinated term loan, other borrowed funds, fixed rate subordinated term debt, and capital lease obligation are estimated by discounting future cash flows using current rates for advances that have similar characteristics. Commitments to Extend Credit and Standby Letters of Credit. The fair value of commitments to extend credit and standby letters of credit, based on fees currently charged to enter into similar agreements, is not significant. The estimated fair values of financial instruments that are reported in the Company’s consolidated balance sheets, and are segregated by the level of the valuation inputs within the fair value hierarchy that are utilized to measure fair value, are as follows: Fair Value Measurements at Reporting Date Using As of March 31, 2023 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 1,080.7 $ 1,080.7 $ 1,080.7 $ — $ — Investment debt securities available-for-sale 6,049.3 6,049.3 — 6,049.3 — Investment debt securities held-to-maturity 3,376.2 3,025.8 — 3,025.8 — Accrued interest receivable 113.7 113.7 — 113.7 — Mortgage servicing rights, net 30.1 38.1 — 38.1 — Loans held for sale 80.9 80.9 — 8.5 72.4 Net loans held for investment 18,019.6 17,585.5 — 17,526.0 59.5 Derivative assets 43.1 43.1 — 43.1 — Deferred compensation plan assets 17.3 17.3 — 17.3 — Total financial assets $ 28,810.9 $ 28,034.4 $ 1,080.7 $ 26,821.8 $ 131.9 Financial liabilities: Total deposits, excluding time deposits $ 21,858.1 $ 21,858.1 $ 21,858.1 $ — $ — Time deposits 2,248.9 2,198.8 — 2,198.8 — Securities sold under repurchase agreements 970.8 970.8 — 970.8 — Other borrowed funds 2,710.0 2,710.0 — 2,710.0 — Accrued interest payable 26.1 26.1 — 26.1 — Long-term debt 120.8 114.5 — 114.5 — Subordinated debentures held by subsidiary trusts 163.1 157.8 — 157.8 — Derivative liabilities 126.7 126.7 — 126.7 — Deferred compensation plan liabilities 17.3 17.3 — 17.3 — Total financial liabilities $ 28,241.8 $ 28,180.1 $ 21,858.1 $ 6,322.0 $ — Fair Value Measurements at Reporting Date Using As of December 31, 2022 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 870.5 $ 870.5 $ 870.5 $ — $ — Investment debt securities available-for-sale 6,946.1 6,946.1 — 6,946.1 — Investment debt securities held-to-maturity 3,451.8 3,052.2 — 3,052.2 — Accrued interest receivable 118.3 118.3 — 118.3 — Mortgage servicing rights, net 31.1 37.4 — 37.4 — Loans held for sale 79.9 79.9 — 6.9 73.0 Net loans held for investment 17,879.1 17,552.1 — 17,513.0 39.1 Derivative assets 45.2 45.2 — 45.2 — Deferred compensation plan assets 18.7 18.7 — 18.7 — Total financial assets $ 29,440.7 $ 28,720.4 $ 870.5 $ 27,737.8 $ 112.1 Financial liabilities: Total deposits, excluding time deposits $ 23,145.2 $ 23,145.2 $ 23,145.2 $ — $ — Time deposits 1,928.4 1,876.1 — 1,876.1 — Securities sold under repurchase agreements 1,052.9 1,052.9 — 1,052.9 — Other borrowed funds 2,327.0 2,327.0 — 2,327.0 — Accrued interest payable 14.5 14.5 — 14.5 — Long-term debt 120.8 116.3 — 116.3 — Subordinated debentures held by subsidiary trusts 163.1 155.8 — 155.8 — Derivative liabilities 159.6 159.6 — 159.6 — Deferred compensation plan liabilities 18.7 18.7 — 18.7 — Total financial liabilities $ 28,930.2 $ 28,866.1 $ 23,145.2 $ 5,720.9 $ — |
Other Borrowed Funds
Other Borrowed Funds | 3 Months Ended |
Mar. 31, 2023 | |
Debt Disclosure [Abstract] | |
Long-Term Debt | At March 31, 2023, the Company had $2,710.0 million in outstanding FHLB borrowings consisting of $850.0 million in fixed rate borrowings with tenors of up to one month and with an average fixed rate of 5.01%, $800.0 million in 2-month fixed rate borrowings with an average fixed rate of 5.11%, and $1,060.0 million in 3-month fixed rate borrowings with an average fixed rate of 5.12%, as compared to $2,327.0 million outstanding borrowings with the FHLB at December 31, 2022. The Company has remaining available lines of credit with the FHLB of approximately $3,678.7 million, subject to collateral availability at March 31, 2023. The borrowings are collateralized by certain loans with an advance equivalent collateral value of $6,388.7 million. As of March 31, 2023 and December 31, 2022, there were no long or short-term advances outstanding with the FHLB. As of March 31, 2023 and December 31, 2022, the Company had no material other borrowed funds. |
Recent Authoritative Accounting
Recent Authoritative Accounting Guidance | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Policies [Abstract] | |
Recent Authoritative Accounting Guidance | Recent Authoritative Accounting Guidance ASU 2020-04, “Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Accounting.” In March 2020, the FASB issued ASU 2020-04, which provides temporary exceptions that are optional for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate, with such modification considered to be "minor" so that any existing unamortized origination fees/costs will carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications will not be accounted for as separate contracts. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company adopted certain elections related to cash flow hedges which did not have a significant impact on the Company’s financial position or results of operations. Based upon the amendments provided in ASU 2022-06 discussed below, ASU 2020-04 can generally be applied through December 31, 2024. ASU 2021-01, “ Reference Rate Reform (Topic 848) ” In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform Topic 848 , that clarifies certain exceptions that are optional in Topic 848 for contract modifications and hedge accounting and apply those exceptions to derivatives that are affected by the discounting transition. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final ASU. If an entity elects to apply any of the amendments in this ASU for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. The amendments in this ASU do not apply to contract modifications made, new hedging relationships entered into, or existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that apply certain exceptions that are optional in which the accounting effects of the hedging activity are recorded through the end of the hedging relationship. The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. Based upon the amendments provided in ASU 2022-06 discussed below, ASU 2021-01 can generally be applied through December 31, 2024. ASU 2021-08, “ Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ” In October 2021, the FASB issued ASU 2021-08, Business Combinations Topic 805, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , to address diversity in practice and inconsistency related to the accounting for revenue contracts with customers acquired in a business combination. The amendments require that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. The amendments also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination and applies to contract assets and contract liabilities from other contracts to which the provisions of Topic 606 apply. The amendments are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Entities should apply the amendments prospectively to business combinations that occur after the effective date. The amendments in this ASU became effective for the Company on January 1, 2023 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2022-01, “ Derivatives and Hedging (Topic 815), Fair Value Hedging—Portfolio Layer Method ” In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging Topic 815, Fair Value Hedging—Portfolio Layer Method that clarifies the accounting for and promotes consistency in the reporting of hedge basis adjustments applicable to both a single hedged layer and multiple hedged layers. The amendments allow nonprepayable financial assets also to be included in a closed portfolio hedged using the portfolio layer method. That expanded scope permits an entity to apply the same portfolio hedging method to both prepayable and nonprepayable financial assets, thereby allowing consistent accounting for similar hedges. The amendments are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The amendments in this ASU became effective for the Company on January 1, 2023 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2022-02, “ Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures ” In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings (TDRs) and Vintage Disclosures that eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance to determine whether a modification results in a new loan or a continuation of an existing loan. The amendment also requires an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The amendments in this ASU became effective for the Company on January 1, 2023 on a prospective basis, and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. Prior to the adoption of ASU 2022-02, a TDR occurred when a loan to a borrower experiencing financial difficulty was restructured with a concession provided that a creditor would not otherwise consider. For the Company’s accounting policy related to TDRs granted prior to the adoption of ASU 2022-02, see “Note 1 – Summary of Significant Accounting Policies” in Part IV, Item 15 “Notes to Consolidated Financial Statements” within our Annual Report on Form 10-K for the year ended December 31, 2022. See “Note 6 – Loans Held For Investment” of these Notes to the Unaudited Consolidated Financial Statements” for further details of the amendments in this update. ASU 2022-06, “ Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 ” In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 that extends the period of time preparers can utilize the reference rate reform relief guidance provided by ASU 2020-04 and ASU 2021-01, which are discussed above. ASU 2022-06, which was effective upon issuance, defers the sunset date of this prior guidance from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief guidance in Topic 848. The adoption of ASU 2022-06 did not have a significant impact on the Company’s financial position, results of operations, or liquidity. ASU 2023-02, “ Investments—Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method ” In March 2023, the FASB issued ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method that permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Previously, this method was only available for qualifying tax equity investments in low-income housing tax credit structures. The amendments also require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understand certain information about its investments that generate income tax credits and other income tax benefits from a tax credit program. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. If an entity adopts the amendments in an interim period, it shall adopt them as of the beginning of the fiscal year that includes that interim period. The amendments must be applied on either a modified retrospective or a retrospective basis (except for certain LIHTC investments not accounted for using the proportional amortization method). The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position, results of operations, or liquidity. |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2023 | |
Subsequent Events [Abstract] | |
Subsequent Events | Subsequent Events Subsequent events have been evaluated for potential recognition and disclosure through the date the Company’s financial statements were filed with the SEC. On April 25, 2023, the Company declared a quarterly dividend to common shareholders of $0.47 per share, to be paid on May 18, 2023 to shareholders of record as of May 8, 2023. No other undisclosed events requiring recognition or disclosure were identified. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Fair Value Measurements | Fair value is defined as the price that would be received to sell an asset or be paid to transfer a liability in an orderly transaction between market participants at the measurement date. There is a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The three levels of inputs to measure fair value are as follows: • 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 assets or liabilities The methodologies used by the Company in determining the fair values of each class of financial instruments are based primarily on independent, market-based data to reflect a value that would be reasonably expected in an orderly transaction between market participants at the measurement date, and therefore, are classified within Level 2 of the valuation hierarchy. There have been no significant changes in the valuation techniques during the three months ended March 31, 2023 and 2022. The Company’s policy is to recognize transfers between levels as of the end of the reporting period. Transfers in and out of Level 1, Level 2, and Level 3 are recognized on the actual transfer date. There were no significant transfers between fair value hierarchy levels during the three months ended March 31, 2023 and 2022. Further details on the methods used to estimate the fair value of each class of financial instruments above are discussed below: Investment Debt Securities Available-for-Sale . The Company obtains fair value measurements for investment securities 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 investment’s terms and conditions, among others. Vendors chosen by the Company are widely recognized vendors whose evaluations support the pricing functions of financial institutions, investment and mutual funds, and portfolio managers. If needed, a broker may be utilized to determine the reported fair value of investment securities. Loans Held for Sale. Fair value measurements for residential mortgage loans held for sale are obtained from an independent pricing service. The fair value measurements consider observable data that may include binding contracts or quotes or bids from third party investors as well as loan level pricing adjustments. Commercial and agricultural loans held for sale are derived from quotes or bids from third party investors. Interest Rate Collars: The fair values of interest rate collars are obtained from an independent third party. The values are determined using the market standard methodology of discounting the future expected cash receipts that would occur if variable interest rates fell below (rise above) the strike rate of the floors (caps). The variable interest rates used in the calculation of projected receipts on the collars are based on an expectation of future interest rates derived from observable market interest rate curves and volatilities. The change in the value of derivative assets attributable to basis risk, or the risk that offsetting investments in a hedging strategy will not experience price changes in entirely opposite directions, was not significant in the reported periods. The Company also compares the reasonableness of the pricing semi-annually through a validation process involving additional independent third parties. Interest Rate Swap Contracts. Fair values for derivative interest rate swap contracts are obtained from an independent third party. The values are based upon the estimated amounts to settle the contracts considering current interest rates and are calculated using discounted cash flows that are observable or that can be corroborated by observable market data. The inputs used to determine fair value include the three-month LIBOR forward curve to estimate variable rate cash inflows and the Secured Overnight Financing Rate to estimate the discount rate. The estimated variable rate cash inflows are compared to the fixed rate outflows and such difference is discounted to a present value to estimate the fair value of the interest rate swaps. The change in the value of derivative assets attributable to basis risk, or the risk that offsetting investments in a hedging strategy will not experience price changes in entirely opposite directions, was not significant in the reported periods. The Company also compares the reasonableness of the pricing semi-annually through a validation process involving additional independent third parties. For purposes of potential valuation adjustments to our derivative positions, we evaluate both our credit risk and the credit risk of our counterparties. Accordingly, we have considered factors such as the likelihood of our default and the default of our counterparties, our net exposures and remaining contractual life, among other things, in determining if any fair value adjustments related to credit risk are required. The change in value of derivative assets and derivative liabilities attributable to credit risk was not significant during the reported periods. Interest Rate Lock Commitments. Fair value measurements for interest rate lock commitments are obtained from an independent pricing service. The fair value measurements consider observable data that may include prices available from secondary market investors taking into consideration various characteristics of the loan, including the loan amount, interest rate, value of the servicing, and loan to value ratio, among other things. Observable data is then adjusted to reflect changes in interest rates, the Company’s estimated pull-through rate, and estimated direct costs necessary to complete the commitment into a closed loan net of origination, and processing fees collected from the borrower. Forward Loan Sales Contracts. The fair value measurements for forward loan sales contracts are obtained from an independent pricing service. The fair value measurements consider observable data that includes sales of similar loans. |
Recent Authoritative Accounting Guidance | Recent Authoritative Accounting Guidance ASU 2020-04, “Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Accounting.” In March 2020, the FASB issued ASU 2020-04, which provides temporary exceptions that are optional for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate, with such modification considered to be "minor" so that any existing unamortized origination fees/costs will carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications will not be accounted for as separate contracts. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company adopted certain elections related to cash flow hedges which did not have a significant impact on the Company’s financial position or results of operations. Based upon the amendments provided in ASU 2022-06 discussed below, ASU 2020-04 can generally be applied through December 31, 2024. ASU 2021-01, “ Reference Rate Reform (Topic 848) ” In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform Topic 848 , that clarifies certain exceptions that are optional in Topic 848 for contract modifications and hedge accounting and apply those exceptions to derivatives that are affected by the discounting transition. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final ASU. If an entity elects to apply any of the amendments in this ASU for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. The amendments in this ASU do not apply to contract modifications made, new hedging relationships entered into, or existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that apply certain exceptions that are optional in which the accounting effects of the hedging activity are recorded through the end of the hedging relationship. The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. Based upon the amendments provided in ASU 2022-06 discussed below, ASU 2021-01 can generally be applied through December 31, 2024. ASU 2021-08, “ Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ” In October 2021, the FASB issued ASU 2021-08, Business Combinations Topic 805, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , to address diversity in practice and inconsistency related to the accounting for revenue contracts with customers acquired in a business combination. The amendments require that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. The amendments also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination and applies to contract assets and contract liabilities from other contracts to which the provisions of Topic 606 apply. The amendments are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Entities should apply the amendments prospectively to business combinations that occur after the effective date. The amendments in this ASU became effective for the Company on January 1, 2023 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2022-01, “ Derivatives and Hedging (Topic 815), Fair Value Hedging—Portfolio Layer Method ” In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging Topic 815, Fair Value Hedging—Portfolio Layer Method that clarifies the accounting for and promotes consistency in the reporting of hedge basis adjustments applicable to both a single hedged layer and multiple hedged layers. The amendments allow nonprepayable financial assets also to be included in a closed portfolio hedged using the portfolio layer method. That expanded scope permits an entity to apply the same portfolio hedging method to both prepayable and nonprepayable financial assets, thereby allowing consistent accounting for similar hedges. The amendments are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The amendments in this ASU became effective for the Company on January 1, 2023 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2022-02, “ Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures ” In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings (TDRs) and Vintage Disclosures that eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance to determine whether a modification results in a new loan or a continuation of an existing loan. The amendment also requires an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The amendments in this ASU became effective for the Company on January 1, 2023 on a prospective basis, and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. Prior to the adoption of ASU 2022-02, a TDR occurred when a loan to a borrower experiencing financial difficulty was restructured with a concession provided that a creditor would not otherwise consider. For the Company’s accounting policy related to TDRs granted prior to the adoption of ASU 2022-02, see “Note 1 – Summary of Significant Accounting Policies” in Part IV, Item 15 “Notes to Consolidated Financial Statements” within our Annual Report on Form 10-K for the year ended December 31, 2022. See “Note 6 – Loans Held For Investment” of these Notes to the Unaudited Consolidated Financial Statements” for further details of the amendments in this update. ASU 2022-06, “ Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 ” In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 that extends the period of time preparers can utilize the reference rate reform relief guidance provided by ASU 2020-04 and ASU 2021-01, which are discussed above. ASU 2022-06, which was effective upon issuance, defers the sunset date of this prior guidance from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief guidance in Topic 848. The adoption of ASU 2022-06 did not have a significant impact on the Company’s financial position, results of operations, or liquidity. ASU 2023-02, “ Investments—Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method ” In March 2023, the FASB issued ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method that permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Previously, this method was only available for qualifying tax equity investments in low-income housing tax credit structures. The amendments also require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understand certain information about its investments that generate income tax credits and other income tax benefits from a tax credit program. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. If an entity adopts the amendments in an interim period, it shall adopt them as of the beginning of the fiscal year that includes that interim period. The amendments must be applied on either a modified retrospective or a retrospective basis (except for certain LIHTC investments not accounted for using the proportional amortization method). The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position, results of operations, or liquidity. |
Accounting Changes and Error Co
Accounting Changes and Error Corrections (Policies) | 3 Months Ended |
Mar. 31, 2023 | |
Accounting Changes and Error Corrections [Abstract] | |
Recent Authoritative Accounting Guidance | Recent Authoritative Accounting Guidance ASU 2020-04, “Reference Rate Reform (Topic 848), Facilitation of the Effects of Reference Rate Reform on Financial Accounting.” In March 2020, the FASB issued ASU 2020-04, which provides temporary exceptions that are optional for applying GAAP to loan and lease agreements, derivative contracts, and other transactions affected by the anticipated transition away from LIBOR toward new interest rate benchmarks. For transactions that are modified because of reference rate reform and that meet certain scope guidance (i) modifications of loan agreements should be accounted for by prospectively adjusting the effective interest rate, with such modification considered to be "minor" so that any existing unamortized origination fees/costs will carry forward and continue to be amortized and (ii) modifications of lease agreements should be accounted for as a continuation of the existing agreement with no reassessments of the lease classification and the discount rate or remeasurements of lease payments that otherwise would be required for modifications will not be accounted for as separate contracts. ASU 2020-04 is effective March 12, 2020 through December 31, 2022. An entity may elect to apply ASU 2020-04 for contract modifications as of January 1, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic within the Codification, the amendments in this ASU must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. The Company adopted certain elections related to cash flow hedges which did not have a significant impact on the Company’s financial position or results of operations. Based upon the amendments provided in ASU 2022-06 discussed below, ASU 2020-04 can generally be applied through December 31, 2024. ASU 2021-01, “ Reference Rate Reform (Topic 848) ” In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform Topic 848 , that clarifies certain exceptions that are optional in Topic 848 for contract modifications and hedge accounting and apply those exceptions to derivatives that are affected by the discounting transition. An entity may elect to apply the amendments in this ASU on a full retrospective basis as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or on a prospective basis to new modifications from any date within an interim period that includes or is subsequent to the date of the issuance of a final ASU. If an entity elects to apply any of the amendments in this ASU for an eligible hedging relationship, any adjustments as a result of those elections must be reflected as of the date the entity applies the election. The amendments in this ASU do not apply to contract modifications made, new hedging relationships entered into, or existing hedging relationships evaluated for effectiveness in periods after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that apply certain exceptions that are optional in which the accounting effects of the hedging activity are recorded through the end of the hedging relationship. The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position or results of operations. Based upon the amendments provided in ASU 2022-06 discussed below, ASU 2021-01 can generally be applied through December 31, 2024. ASU 2021-08, “ Business Combinations (Topic 805), Accounting for Contract Assets and Contract Liabilities from Contracts with Customers ” In October 2021, the FASB issued ASU 2021-08, Business Combinations Topic 805, Accounting for Contract Assets and Contract Liabilities from Contracts with Customers , to address diversity in practice and inconsistency related to the accounting for revenue contracts with customers acquired in a business combination. The amendments require that an entity recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with Topic 606 as if it had originated the contracts. The amendments also provide certain practical expedients for acquirers when recognizing and measuring acquired contract assets and contract liabilities from revenue contracts in a business combination and applies to contract assets and contract liabilities from other contracts to which the provisions of Topic 606 apply. The amendments are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. Entities should apply the amendments prospectively to business combinations that occur after the effective date. The amendments in this ASU became effective for the Company on January 1, 2023 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2022-01, “ Derivatives and Hedging (Topic 815), Fair Value Hedging—Portfolio Layer Method ” In March 2022, the FASB issued ASU 2022-01, Derivatives and Hedging Topic 815, Fair Value Hedging—Portfolio Layer Method that clarifies the accounting for and promotes consistency in the reporting of hedge basis adjustments applicable to both a single hedged layer and multiple hedged layers. The amendments allow nonprepayable financial assets also to be included in a closed portfolio hedged using the portfolio layer method. That expanded scope permits an entity to apply the same portfolio hedging method to both prepayable and nonprepayable financial assets, thereby allowing consistent accounting for similar hedges. The amendments are effective for fiscal years beginning after December 15, 2022, and interim periods within those fiscal years. The amendments in this ASU became effective for the Company on January 1, 2023 and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. ASU 2022-02, “ Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures ” In March 2022, the FASB issued ASU 2022-02, Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings (TDRs) and Vintage Disclosures that eliminate the accounting guidance for TDRs by creditors in Subtopic 310-40, Receivables—Troubled Debt Restructurings by Creditors, while enhancing disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. Rather than applying the recognition and measurement guidance for TDRs, an entity must apply the loan refinancing and restructuring guidance to determine whether a modification results in a new loan or a continuation of an existing loan. The amendment also requires an entity disclose current-period gross writeoffs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326. The amendments are effective for fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The amendments in this ASU became effective for the Company on January 1, 2023 on a prospective basis, and did not have a significant impact on the Company’s consolidated financial statements, results of operations, or liquidity. Prior to the adoption of ASU 2022-02, a TDR occurred when a loan to a borrower experiencing financial difficulty was restructured with a concession provided that a creditor would not otherwise consider. For the Company’s accounting policy related to TDRs granted prior to the adoption of ASU 2022-02, see “Note 1 – Summary of Significant Accounting Policies” in Part IV, Item 15 “Notes to Consolidated Financial Statements” within our Annual Report on Form 10-K for the year ended December 31, 2022. See “Note 6 – Loans Held For Investment” of these Notes to the Unaudited Consolidated Financial Statements” for further details of the amendments in this update. ASU 2022-06, “ Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 ” In December 2022, the FASB issued ASU 2022-06, Reference Rate Reform (Topic 848), Deferral of the Sunset Date of Topic 848 that extends the period of time preparers can utilize the reference rate reform relief guidance provided by ASU 2020-04 and ASU 2021-01, which are discussed above. ASU 2022-06, which was effective upon issuance, defers the sunset date of this prior guidance from December 31, 2022 to December 31, 2024, after which entities will no longer be permitted to apply the relief guidance in Topic 848. The adoption of ASU 2022-06 did not have a significant impact on the Company’s financial position, results of operations, or liquidity. ASU 2023-02, “ Investments—Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method ” In March 2023, the FASB issued ASU 2023-02, Investments—Equity Method and Joint Ventures (Topic 323), Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method that permit reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. Previously, this method was only available for qualifying tax equity investments in low-income housing tax credit structures. The amendments also require that a reporting entity disclose certain information in annual and interim reporting periods that enable investors to understand certain information about its investments that generate income tax credits and other income tax benefits from a tax credit program. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. If an entity adopts the amendments in an interim period, it shall adopt them as of the beginning of the fiscal year that includes that interim period. The amendments must be applied on either a modified retrospective or a retrospective basis (except for certain LIHTC investments not accounted for using the proportional amortization method). The Company is currently evaluating the impact of the standard and does not anticipate it will have a significant impact on the Company’s financial position, results of operations, or liquidity. |
Acquisitions (Tables)
Acquisitions (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Business Combinations [Abstract] | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed | As of February 1, 2022 Assets acquired: Cash and cash equivalents $ 2,006.9 Investment securities 2,699.0 Securities purchased under agreement to resell 101.1 Loans held for sale 217.0 Loans held for investment 7,705.0 Allowance for credit losses (59.5) Premises and equipment, including right of use lease assets 144.7 OREO 15.8 Company-owned life insurance 186.6 Core deposit intangibles 50.1 Customer relationship intangible 22.8 Mortgage servicing rights 1.3 Deferred tax assets, net 60.2 Other assets 200.8 Total assets acquired 13,351.8 Liabilities assumed: Deposits 11,688.0 Securities sold under repurchase agreements 74.0 Accrued expenses and other liabilities 110.4 FHLB advances 122.9 Subordinated debt 36.4 Subordinated debentures held by subsidiary trusts 76.1 Total liabilities assumed 12,107.8 Net assets acquired $ 1,244.0 Consideration paid: Class A common stock 1,723.3 Total consideration paid (1) $ 1,723.3 Goodwill $ 479.3 (1) Includes $13 thousand of cash paid in lieu of fractional shares. |
Schedule of Pro Forma Financial Information | The following table presents certain unaudited pro forma financial information for illustrative purposes only, for the three month period ended March 31, 2022 as if GWB had been acquired on January 1, 2021. This unaudited pro forma information combines the historical results of GWB with the Company’s consolidated historical results and includes certain adjustments reflecting the estimated impact of certain fair value adjustments for the respective periods. The pro forma information is not indicative of what would have occurred had the acquisition occurred at the beginning of the year prior to the acquisition. The unaudited pro forma information does not consider any changes to the provision for credit losses resulting from recording loan assets at fair value, cost savings, or business synergies. As a result, actual amounts would have differed from the unaudited pro forma information presented, and the differences could be significant. Three Months Ended March 31, 2022 Total revenues $ 268.9 Net income $ 76.4 Earnings per common share (Basic) $ 0.70 Earnings per common share (Diluted) $ 0.70 |
Goodwill and Core Deposit Int_2
Goodwill and Core Deposit Intangibles (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |
Schedule of Intangibles | Other intangible assets are comprised of core deposit intangibles (“CDI”) and other customer relationship intangibles (“OCRI”) and amounted to the following at March 31, 2023 and December 31, 2022: March 31, 2023 CDI OCRI Total Gross other intangible assets, at January 1, 2023 $ 154.7 $ 22.8 $ 177.5 Accumulated amortization (82.3) (2.2) (84.5) Net other intangible assets, at March 31, 2023 $ 72.4 $ 20.6 $ 93.0 December 31, 2022 Gross other intangible assets, at January 1, 2022 $ 106.0 $ — $ 106.0 Amounts established through acquisition 50.1 22.8 72.9 Reductions due to sale of health savings accounts (1.4) — (1.4) Accumulated amortization (78.8) (1.7) (80.5) Net other intangible assets, at December 31, 2022 $ 75.9 $ 21.1 $ 97.0 |
Schedule of Future Amortization Expense | The following table provides the estimated aggregate future amortization expense of other intangible assets at March 31, 2023: Years Ending December 31, CDI OCRI Total 2023 remaining $ 10.2 $ 1.4 $ 11.6 2024 12.7 1.9 14.6 2025 11.8 1.9 13.7 2026 10.9 1.9 12.8 2027 8.2 1.9 10.1 Thereafter 18.6 11.6 30.2 Total $ 72.4 $ 20.6 $ 93.0 |
Investment Securities (Tables)
Investment Securities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Approximate Fair Values of Investment Securities | The amortized cost and the approximate fair values of investment securities are summarized as follows: March 31, 2023 Amortized Allowance for Credit Losses Net Amortized Cost Gross Gross Estimated Available-for-Sale: U.S. Treasury notes $ 250.1 $ — $ 250.1 $ — $ (26.9) $ 223.2 State, county, and municipal securities 262.0 — 262.0 — (40.9) 221.1 Obligations of U.S. government agencies 186.4 — 186.4 — (12.3) 174.1 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 4,221.0 — 4,221.0 0.2 (362.8) 3,858.4 Private mortgage-backed securities 260.3 — 260.3 — (35.2) 225.1 Collateralized loan obligations 1,143.3 1,143.3 — (29.4) 1,113.9 Corporate securities 261.7 (2.6) 259.1 — (25.6) 233.5 Total $ 6,584.8 $ (2.6) $ 6,582.2 $ 0.2 $ (533.1) $ 6,049.3 March 31, 2023 Amortized Allowance for Credit Losses Net Amortized Cost Gross Gross Estimated Held-to-Maturity: U.S. Treasury notes $ 397.2 $ — $ 397.2 $ — $ (7.6) $ 389.6 State, county, and municipal securities 180.9 — 180.9 0.4 (25.2) 156.1 Obligations of U.S. government agencies 352.3 — 352.3 — (44.7) 307.6 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations (1) 2,389.4 — 2,389.4 1.0 (269.7) 2,120.7 Corporate securities 57.1 (0.7) 56.4 — (4.6) 51.8 Total $ 3,376.9 $ (0.7) $ 3,376.2 $ 1.4 $ (351.8) $ 3,025.8 (1) Amortized cost presented above include $19.7 million of unamortized losses and $13.2 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 and 2022 transfer of securities from available-for-sale to held-to-maturity. December 31, 2022 Amortized Gross Gross Estimated Available-for-Sale: U.S. Treasury notes $ 675.1 $ 2.1 $ (34.5) $ 642.7 State, county, and municipal securities 314.3 — (50.6) 263.7 Obligations of U.S. government agencies 216.2 — (17.3) 198.9 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 4,685.5 0.2 (426.0) 4,259.7 Private mortgage-backed securities 264.9 — (36.9) 228.0 Collateralized loan obligations 1,145.2 — (33.6) 1,111.6 Corporate securities 272.3 — (30.8) 241.5 Total $ 7,573.5 $ 2.3 $ (629.7) $ 6,946.1 December 31, 2022 Amortized Allowance for Credit Losses Net Amortized Cost Gross Gross Estimated Held-to-Maturity: U.S. Treasury notes $ 396.6 $ — $ 396.6 $ — $ (10.2) $ 386.4 State, county, and municipal securities 181.2 (0.1) 181.1 0.2 (31.6) 149.7 Obligations of U.S. government agencies 351.7 — 351.7 — (49.6) 302.1 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations (1) 2,444.1 — 2,444.1 0.2 (301.6) 2,142.7 Corporate securities 80.1 (1.8) 78.3 — (7.0) 71.3 Total $ 3,453.7 $ (1.9) $ 3,451.8 $ 0.4 $ (400.0) $ 3,052.2 (1) Amortized cost presented above include $20.1 million of unamortized gains in U.S. agency residential and commercial mortgage-backed securities and collateralized mortgage obligations related to the 2021 transfer of securities from available-for-sale to held-to-maturity. |
Gross Unrealized Losses and Fair Values of Investment Securities | The following tables show the gross unrealized losses and fair values of available-for-sale investment securities and the length of time individual investment securities have been in an unrealized loss position as of March 31, 2023 and December 31, 2022. Less than 12 Months 12 Months or More Total March 31, 2023 Fair Gross Fair Gross Fair Gross Available-for-Sale: U.S. Treasury notes $ 48.1 $ (1.3) $ 175.1 $ (25.6) $ 223.2 $ (26.9) State, county, and municipal securities 8.0 (0.3) 210.0 (40.6) 218.0 (40.9) Obligations of U.S. government agencies 86.7 (4.0) 86.8 (8.3) 173.5 (12.3) U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 1,388.6 (63.5) 2,459.5 (299.3) 3,848.1 (362.8) Private mortgage-backed securities 0.1 — 225.0 (35.2) 225.1 (35.2) Collateralized loan obligations 117.3 (3.0) 996.6 (26.4) 1,113.9 (29.4) Corporate securities 80.0 (2.8) 153.5 (22.8) 233.5 (25.6) Total $ 1,728.8 $ (74.9) $ 4,306.5 $ (458.2) $ 6,035.3 $ (533.1) Less than 12 Months 12 Months or More Total December 31, 2022 Fair Gross Fair Gross Fair Gross Available-for-Sale: U.S. Treasury notes $ 168.8 $ (4.7) $ 170.4 $ (29.8) $ 339.2 $ (34.5) State, county, and municipal securities 104.9 (9.0) 146.1 (41.6) 251.0 (50.6) Obligations of U.S. government agencies 152.2 (10.1) 46.1 (7.2) 198.3 (17.3) U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations 3,299.7 (262.3) 948.4 (163.7) 4,248.1 (426.0) Private mortgage-backed securities 133.1 (19.1) 94.9 (17.8) 228.0 (36.9) Collateralized loan obligations 1,082.6 (33.1) 28.9 (0.5) 1,111.5 (33.6) Corporate securities 130.6 (8.3) 110.8 (22.5) 241.4 (30.8) Total $ 5,071.9 $ (346.6) $ 1,545.6 $ (283.1) $ 6,617.5 $ (629.7) |
Debt Securities, Held-to-maturity, Allowance for Credit Loss | The following table presents the activity in the allowance for credit losses related to investment securities: Three Months Ended March 31, 2023 2022 Beginning balance $ 1.9 $ — Provision for available-for-sale credit losses 2.6 — Reversal of held-to-maturity credit loss losses (1.2) 1.6 Ending balance $ 3.3 $ 1.6 |
Debt Securities, Held-to-maturity, Credit Quality Indicator | The following table summarizes the credit quality indicators of held-to-maturity securities at amortized cost for the periods indicated: March 31, 2023 AAA AA A BBB BB Not Rated Total U.S. Treasury notes $ 397.2 $ — $ — $ — $ — $ — $ 397.2 State, county, and municipal securities 68.2 92.7 11.5 — — 8.5 180.9 Obligations of U.S. government agencies 352.3 — — — — — 352.3 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations FNMA/FHLMC 2,183.2 — — — — — 2,183.2 GNMA 206.2 — — — — — 206.2 Corporate securities — — — 52.1 — 5.0 57.1 Total $ 3,207.1 $ 92.7 $ 11.5 $ 52.1 $ — $ 13.5 $ 3,376.9 December 31, 2022 AAA AA A BBB BB Not Rated Total U.S. Treasury notes $ 396.6 $ — $ — $ — $ — $ — $ 396.6 State, county, and municipal securities 68.3 92.8 11.5 — — 8.6 181.2 Obligations of U.S. government agencies 351.7 — — — — — 351.7 U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations FNMA/FHLMC 2,233.6 — — — — — 2,233.6 GNMA 210.5 — — — — — 210.5 Corporate securities — — — 65.1 10.0 5.0 80.1 Total $ 3,260.7 $ 92.8 $ 11.5 $ 65.1 $ 10.0 $ 13.6 $ 3,453.7 |
Maturities of Investment Securities | Maturities of mortgage-backed securities have been adjusted to reflect shorter maturities based upon estimated prepayments of principal. All other investment securities maturities are shown at contractual maturity dates. Available-for-Sale Held-to-Maturity March 31, 2023 Amortized Estimated Amortized Estimated Within one year $ 0.5 $ 0.5 $ 307.2 $ 300.4 After one year but within five years 786.6 746.1 301.1 287.2 After five years but within ten years 1,686.5 1,524.1 704.1 624.4 After ten years 4,111.2 3,778.6 2,064.5 1,813.8 Total $ 6,584.8 $ 6,049.3 $ 3,376.9 $ 3,025.8 |
Loans Held for Sale (Tables)
Loans Held for Sale (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Loans Held for Sale [Abstract] | |
Loans Held For Sale (Table) | The following table presents loans held for sale by portfolio segment for the dates indicated: March 31, December 31, Loans held for sale: Agricultural 1 $ 62.9 $ 62.5 Commercial construction, at lower of cost or market 6.4 10.5 Land acquisition and development, at lower of cost or market 3.1 — Residential mortgage, at fair value 8.5 6.9 Total loans held for sale $ 80.9 $ 79.9 |
Non-Residential Loans Held for Sale | The table below presents the non-residential mortgage loans held for sale activity for the quarter ended March 31, 2023: Agricultural Commercial Construction Land Acquisition and Development Beginning balance $ 62.5 $ 10.5 $ — Repayments and discounted pay-offs (1.8) — — Loans held for investment transferred to loans held for sale — — 3.1 Increase (decrease) in estimated fair value of the loans 1 2.2 (4.1) — Ending balance $ 62.9 $ 6.4 $ 3.1 |
Loans Held for Investment (Tabl
Loans Held for Investment (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Receivables [Abstract] | |
Schedule of Loans by Class | The following table presents loans by segment as of the dates indicated: March 31, December 31, Real estate loans: Commercial $ 8,680.8 $ 8,528.6 Construction loans: Land acquisition & development 368.5 386.2 Residential 471.4 516.2 Commercial 1,053.1 1,042.0 Total construction loans 1,893.0 1,944.4 Residential 2,191.1 2,188.3 Agricultural 769.7 794.9 Total real estate loans 13,534.6 13,456.2 Consumer loans: Indirect 817.3 829.7 Direct and advance lines 146.9 152.9 Credit card 71.5 75.9 Total consumer loans 1,035.7 1,058.5 Commercial 3,028.0 2,882.6 Agricultural 660.4 708.3 Other, including overdrafts 1.6 9.2 Loans held for investment 18,260.3 18,114.8 Deferred loan fees and costs (14.6) (15.6) Loans held for investment, net of deferred fees and costs 18,245.7 18,099.2 Allowance for credit losses (226.1) (220.1) Net loans held for investment $ 18,019.6 $ 17,879.1 |
Schedule of Allowance for Loan Losses by Portfolio Segment | The following tables represent, by loan portfolio segment, the activity in the allowance for credit losses for loans held for investment: Three Months Ended March 31, 2023 Beginning Balance Provision for (reversal of) Credit Losses Loans Charged-Off (2) Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 27.2 $ 1.3 $ (2.5) $ — $ 26.0 Owner occupied 19.5 (0.2) (1.8) 0.1 17.6 Multi-family 27.9 7.1 — — 35.0 Total commercial real estate 74.6 8.2 (4.3) 0.1 78.6 Construction: Land acquisition & development 1.3 0.3 — — 1.6 Residential construction 3.6 0.1 — — 3.7 Commercial construction 31.2 5.9 — — 37.1 Total construction 36.1 6.3 — — 42.4 Residential real estate: Residential 1-4 family 20.5 (0.2) (0.1) — 20.2 Home equity and HELOC 1.6 0.3 (0.4) — 1.5 Total residential real estate 22.1 0.1 (0.5) — 21.7 Agricultural real estate 5.9 (1.2) — 0.1 4.8 Total real estate 138.7 13.4 (4.8) 0.2 147.5 Consumer: Indirect 15.3 0.6 (1.8) 0.7 14.8 Direct and advance lines 5.2 0.1 (1.1) 0.3 4.5 Credit card 2.8 — (0.5) 0.2 2.5 Total consumer 23.3 0.7 (3.4) 1.2 21.8 Commercial: Commercial and floor plans 49.0 (0.8) (0.6) 0.9 48.5 Commercial purpose secured by 1-4 family 5.7 (0.2) — 0.1 5.6 Credit card 0.2 0.2 (0.1) — 0.3 Total commercial 54.9 (0.8) (0.7) 1.0 54.4 Agricultural: Agricultural 3.2 (1.1) — 0.3 2.4 Total agricultural 3.2 (1.1) — 0.3 2.4 Total allowance for credit losses $ 220.1 $ 12.2 $ (8.9) $ 2.7 $ 226.1 Three Months Ended March 31, 2022 Beginning Balance ACL Recorded for PCD Loans Provision for (reversal of) Credit Losses Loans Charged-Off (2) Recoveries Collected Ending Balance Allowance for credit losses (1) Real estate: Commercial real estate: Non-owner occupied $ 17.3 $ 24.1 $ 6.7 $ (2.9) $ — $ 45.2 Owner occupied 13.3 9.5 4.6 (2.2) — 25.2 Multi-family 13.3 29.9 11.4 — — 54.6 Total commercial real estate 43.9 63.5 22.7 (5.1) — 125.0 Construction: Land acquisition & development 0.5 3.4 (0.8) (2.7) 0.1 0.5 Residential construction 2.4 — 0.9 — — 3.3 Commercial construction 6.0 0.2 4.0 — — 10.2 Total construction 8.9 3.6 4.1 (2.7) 0.1 14.0 Residential real estate: Residential 1-4 family 13.4 0.1 5.2 (0.1) 0.1 18.7 Home equity and HELOC 1.2 — 0.1 — 0.1 1.4 Total residential real estate 14.6 0.1 5.3 (0.1) 0.2 20.1 Agricultural real estate 1.9 2.3 6.4 (0.1) — 10.5 Total real estate 69.3 69.5 38.5 (8.0) 0.3 169.6 Consumer: Indirect 14.3 — (0.3) (0.9) 0.4 13.5 Direct and advance lines 4.6 — (0.1) (0.8) 0.9 4.6 Credit card 2.2 — 0.6 (0.6) 0.1 2.3 Total consumer 21.1 — 0.2 (2.3) 1.4 20.4 Commercial: Commercial and floor plans 27.1 11.2 18.4 (4.2) 0.4 52.9 Commercial purpose secured by 1-4 family 4.4 0.2 0.4 — — 5.0 Credit card 0.1 — 0.3 (0.1) — 0.3 Total commercial 31.6 11.4 19.1 (4.3) 0.4 58.2 Agricultural: Agricultural 0.3 3.4 (0.5) (5.3) 1.1 (1.0) Total agricultural 0.3 3.4 (0.5) (5.3) 1.1 (1.0) Total allowance for credit losses $ 122.3 $ 84.3 $ 57.3 $ (19.9) $ 3.2 $ 247.2 (1) Amounts presented exclude the allowance for credit losses related to unfunded commitments and investment securities. These amounts are included in Note “Financial Instruments with Off-Balance Sheet Risk” and the allowance for credit losses related to investment securities which are included in Note “Investment Securities” included in this report, respectively. (2) Loans, or portions thereof, are charged-off against the allowance for credit losses when management believes the collectability of the principal is unlikely, or, with respect to consumer installment loans, according to an established delinquency schedule. |
Schedule of Recorded Investment in Impaired Loans | The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of the dates indicated: Collateral Type As of March 31, 2023 Business Assets Real Property Total Commercial real estate non-owner occupied $ 1.6 $ 12.2 $ 13.8 Commercial real estate owner occupied — 12.1 12.1 Commercial construction real estate — 17.9 17.9 Residential construction real estate — 0.5 0.5 Residential 1-4 family — 0.5 0.5 Agricultural real estate — 4.6 4.6 Commercial and floor plans 5.4 2.1 7.5 Agricultural 2.1 0.5 2.6 Total collateral-dependent loans $ 9.1 $ 50.4 $ 59.5 Collateral Type As of December 31, 2022 Business Assets Real Property Total Commercial real estate non-owner occupied $ 1.7 $ 2.7 $ 4.4 Commercial real estate owner occupied — 13.0 13.0 Land, acquisition and development construction real estate — 3.2 3.2 Residential 1-4 family — 0.5 0.5 Agricultural real estate 0.2 5.9 6.1 Commercial and floor plans 3.1 1.5 4.6 Agricultural 2.1 5.2 7.3 Total collateral-dependent loans $ 7.1 $ 32.0 $ 39.1 |
Schedule of Recorded Investment in Past Due Loans by Class | Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans classified in the following table as 90 days or more past due continue to accrue interest. The following tables present the contractual aging of the Company’s recorded amortized cost basis in loans by portfolio as of the dates indicated. Total Loans 30 - 59 60 - 89 90 or more 30 or More Days Days Days Days Current Non-accrual Total As of March 31, 2023 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 10.2 $ 1.6 $ 0.2 $ 12.0 $ 8,640.6 $ 28.2 $ 8,680.8 Construction: Land acquisition & development 3.2 0.1 0.2 3.5 364.5 0.5 368.5 Residential 0.4 — — 0.4 470.5 0.5 471.4 Commercial 0.6 — — 0.6 1,034.7 17.8 1,053.1 Total construction loans 4.2 0.1 0.2 4.5 1,869.7 18.8 1,893.0 Residential 6.1 0.5 0.4 7.0 2,177.1 7.0 2,191.1 Agricultural 7.2 — 0.3 7.5 756.3 5.9 769.7 Total real estate loans 27.7 2.2 1.1 31.0 13,443.7 59.9 13,534.6 Consumer: Indirect consumer 6.1 1.6 0.4 8.1 806.5 2.7 817.3 Other consumer 0.7 0.3 0.1 1.1 145.6 0.2 146.9 Credit card 0.5 0.4 0.6 1.5 70.0 — 71.5 Total consumer loans 7.3 2.3 1.1 10.7 1,022.1 2.9 1,035.7 Commercial 9.4 2.6 1.9 13.9 3,001.3 12.8 3,028.0 Agricultural 0.1 0.7 0.4 1.2 654.0 5.2 660.4 Other, including overdrafts — — — — 1.6 — 1.6 Loans held for investment $ 44.5 $ 7.8 $ 4.5 $ 56.8 $ 18,122.7 $ 80.8 $ 18,260.3 Total Loans 30 - 59 60 - 89 90 or more 30 or More Days Days Days Days Current Non-accrual Total As of December 31, 2022 Past Due Past Due Past Due Past Due Loans Loans (1) Loans Real estate Commercial $ 5.6 $ 0.8 $ 1.1 $ 7.5 $ 8,501.5 $ 19.6 $ 8,528.6 Construction: Land acquisition & development 1.8 — 0.6 2.4 380.1 3.7 386.2 Residential 1.1 — — 1.1 515.1 — 516.2 Commercial 7.5 0.6 — 8.1 1,033.9 — 1,042.0 Total construction loans 10.4 0.6 0.6 11.6 1,929.1 3.7 1,944.4 Residential 9.9 2.1 1.2 13.2 2,168.7 6.4 2,188.3 Agricultural 1.1 6.1 — 7.2 780.1 7.6 794.9 Total real estate loans 27.0 9.6 2.9 39.5 13,379.4 37.3 13,456.2 Consumer: Indirect consumer 9.3 2.4 0.6 12.3 814.7 2.7 829.7 Other consumer 0.8 0.3 0.1 1.2 151.4 0.3 152.9 Credit card 0.8 0.4 0.6 1.8 74.1 — 75.9 Total consumer loans 10.9 3.1 1.3 15.3 1,040.2 3.0 1,058.5 Commercial 7.1 1.7 2.1 10.9 2,861.5 10.2 2,882.6 Agricultural 0.8 2.2 0.1 3.1 696.5 8.7 708.3 Other, including overdrafts — — — — 9.2 — 9.2 Loans held for investment $ 45.8 $ 16.6 $ 6.4 $ 68.8 $ 17,986.8 $ 59.2 $ 18,114.8 (1) As of March 31, 2023 and December 31, 2022, none of our non-accrual loans were earning interest income. Additionally, no material interest income was recognized on non-accrual loans during the three months ended March 31, 2023 and 2022, respectively. There were $0.3 million and $1.0 million reversals of accrued interest at March 31, 2023 and March 31, 2022. respectively. |
Financing Receivable, Excluding Accrued Interest, Modified Period | The following table presents the amortized cost basis of loans at March 31, 2023 that were both experiencing financial difficulty and modified during the three months ended March 31, 2023, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below: Principal Forgiveness Term Extension Total % of Total Class of Loans Held for Investment (1) Commercial real estate non-owner occupied $ — $ 2.4 $ 2.4 0.1 % Commercial real estate owner occupied 1.6 1.3 2.9 0.1 % Land acquisition & development construction real estate — 0.2 0.2 0.1 Home equity and HELOC residential real estate 0.1 — 0.1 — Agricultural real estate — 1.2 1.2 0.2 Commercial and floor plans — 2.0 2.0 0.1 Commercial purpose 1-4 family — 0.6 0.6 0.1 Agricultural — 17.8 17.8 2.7 Loans held for investment (2) $ 1.7 $ 25.5 $ 27.2 0.2 % (1) Based on the amortized cost basis as of period end, divided by the period end amortized cost basis of the corresponding class of finance receivables. (2) As of March 31, 2023, the Company excluded $0.3 million in accrued interest from the amortized cost of the identified loans. |
Schedule of Acquired Loans with Credit Impairment | The following table reconciles the par value, or initial amortized cost, of PCD loans acquired in the GWB acquisition as of February 1, 2022, or the date of the acquisition, with the purchase price (or initial fair value of the loans) as amended for measurement period adjustments: Purchase price (initial fair value) $ 623.3 Allowance for credit losses (1) 298.2 Discount attributable to other factors (2) 57.7 Par value (unpaid principal balance) $ 979.2 (1) For acquired PCD loans, an allowance of $298.2 million was required with a corresponding increase to the amortized cost basis as of the acquisition date. For PCD loans where all or a portion of the loan balance had been previously written-off by GWB, or would be subject to write-off under the Company’s charge-off policy, a CECL allowance of $238.7 million, included as part of the grossed-up loan balance at acquisition was immediately written-off. The net impact to the allowance for PCD assets on the acquisition date was $59.5 million. (2) Non-credit discount includes the difference between the amortized cost basis and the unpaid principal balance of $39.6 million established on PCD loans acquired from GWB and interest applied to principal of $18.1 million. |
Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator | The Company evaluates the credit quality and loan performance for the allowance for credit losses of the following class of loans based on the aforementioned risk scale for the periods indicated: March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate non-owner occupied: Pass $ 239.8 $ 1,188.9 $ 790.1 $ 604.9 $ 435.3 $ 1,094.1 $ 29.3 $ 4,382.4 Special mention — — 1.3 1.4 14.1 10.4 — 27.2 Substandard — 5.2 18.0 8.0 20.9 12.1 — 64.2 Total $ 239.8 $ 1,194.1 $ 809.4 $ 614.3 $ 470.3 $ 1,116.6 $ 29.3 $ 4,473.8 Current-period gross charge-offs — — — 2.2 — 0.3 — 2.5 Commercial real estate owner occupied: Pass $ 124.7 $ 745.9 $ 677.9 $ 479.2 $ 245.6 $ 591.0 $ 11.4 $ 2,875.7 Special mention 2.0 4.8 14.4 13.0 6.1 21.2 3.0 64.5 Substandard 0.7 9.1 10.1 1.1 8.6 19.6 0.6 49.8 Doubtful — 0.3 1.4 — — — — 1.7 Total $ 127.4 $ 760.1 $ 703.8 $ 493.3 $ 260.3 $ 631.8 $ 15.0 $ 2,991.7 Current-period gross charge-offs — 0.1 1.7 — — — — 1.8 March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial multi-family: Pass $ 64.2 $ 413.2 $ 254.6 $ 234.0 $ 88.5 $ 156.9 $ 1.5 $ 1,212.9 Special mention — 0.4 — — — 1.7 — 2.1 Substandard — — — — — 0.3 — 0.3 Total $ 64.2 $ 413.6 $ 254.6 $ 234.0 $ 88.5 $ 158.9 $ 1.5 $ 1,215.3 Current-period gross charge-offs — — — — — — — — Land, acquisition and development: Pass $ 36.0 $ 145.5 $ 93.1 $ 33.7 $ 12.1 $ 29.3 $ 9.4 $ 359.1 Special mention — 6.7 0.1 — — 0.3 — 7.1 Substandard — — 0.2 0.2 1.6 0.3 — 2.3 Total $ 36.0 $ 152.2 $ 93.4 $ 33.9 $ 13.7 $ 29.9 $ 9.4 $ 368.5 Current-period gross charge-offs — — — — — — — — Residential construction: Pass $ 13.8 $ 107.3 $ 92.2 $ 0.4 $ 0.2 $ 6.1 $ 250.5 $ 470.5 Substandard — — 0.5 — — 0.4 — 0.9 Total $ 13.8 $ 107.3 $ 92.7 $ 0.4 $ 0.2 $ 6.5 $ 250.5 $ 471.4 Current-period gross charge-offs — — — — — — — — Commercial construction: Pass $ 60.2 $ 432.9 $ 370.9 $ 77.6 $ 8.2 $ — $ 22.4 $ 972.2 Special mention — 4.6 — 23.1 — — 13.7 41.4 Substandard — 1.2 24.4 — — — — 25.6 Doubtful — 13.9 — — — — — 13.9 Total $ 60.2 $ 452.6 $ 395.3 $ 100.7 $ 8.2 $ — $ 36.1 $ 1,053.1 Current-period gross charge-offs — — — — — — — — Agricultural real estate: Pass $ 16.4 $ 168.5 $ 166.7 $ 105.2 $ 61.9 $ 143.6 $ 31.4 $ 693.7 Special mention 0.1 0.9 0.3 1.8 1.8 14.6 9.7 29.2 Substandard 6.1 19.8 5.5 1.6 0.5 12.2 0.1 45.8 Doubtful — — — 1.0 — — — 1.0 Total $ 22.6 $ 189.2 $ 172.5 $ 109.6 $ 64.2 $ 170.4 $ 41.2 $ 769.7 Current-period gross charge-offs — — — — — — — — March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Commercial and floor plans: Pass $ 152.5 $ 458.7 $ 315.9 $ 197.1 $ 109.9 $ 297.7 $ 700.4 $ 2,232.2 Special mention 0.6 8.0 11.8 1.3 1.2 2.7 29.0 54.6 Substandard 4.1 15.0 6.1 2.4 4.1 2.9 46.8 81.4 Doubtful — 2.3 1.2 — — — 2.6 6.1 Total $ 157.2 $ 484.0 $ 335.0 $ 200.8 $ 115.2 $ 303.3 $ 778.8 $ 2,374.3 Current-period gross charge-offs — 0.1 0.1 0.1 0.1 0.2 — 0.6 Commercial purpose secured by 1-4 family: Pass $ 35.2 $ 186.0 $ 129.2 $ 64.3 $ 29.3 $ 68.0 $ 27.7 $ 539.7 Special mention 0.6 0.1 1.1 3.2 0.2 0.8 — 6.0 Substandard 0.2 0.2 0.3 0.1 0.3 1.9 — 3.0 Total $ 36.0 $ 186.3 $ 130.6 $ 67.6 $ 29.8 $ 70.7 $ 27.7 $ 548.7 Current-period gross charge-offs — — — — — — — — Agricultural: Pass $ 24.5 $ 109.6 $ 53.2 $ 28.5 $ 8.8 $ 9.1 $ 342.0 $ 575.7 Special mention 0.4 0.6 1.0 0.5 0.5 0.1 8.1 11.2 Substandard 3.1 46.3 1.5 2.5 0.5 1.1 16.6 71.6 Total $ 28.0 $ 156.5 $ 55.7 $ 31.5 $ 9.8 $ 10.3 $ 366.7 $ 658.5 Current-period gross charge-offs — — — — — — — — December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Commercial real estate non-owner occupied: Pass $ 1,162.6 $ 861.3 $ 661.1 $ 467.6 $ 241.5 $ 890.4 $ 29.2 $ 4,313.7 Special mention 1.0 6.8 2.3 4.6 — 7.4 — 22.1 Substandard 0.1 13.9 10.8 18.2 19.6 9.8 — 72.4 Total $ 1,163.7 $ 882.0 $ 674.2 $ 490.4 $ 261.1 $ 907.6 $ 29.2 $ 4,408.2 Commercial real estate owner occupied: Pass $ 793.0 $ 718.7 $ 533.9 $ 266.3 $ 165.8 $ 551.3 $ 18.2 $ 3,047.2 Special mention 10.9 14.2 12.3 6.1 5.6 5.5 1.1 55.7 Substandard 8.4 3.0 2.3 8.9 8.5 17.2 0.5 48.8 Doubtful 0.4 1.4 — — — — — 1.8 Total $ 812.7 $ 737.3 $ 548.5 $ 281.3 $ 179.9 $ 574.0 $ 19.8 $ 3,153.5 Commercial multi-family: Pass $ 369.2 $ 204.9 $ 189.0 $ 52.1 $ 35.0 $ 113.7 $ 1.0 $ 964.9 Special mention — — — — — 1.7 — 1.7 Substandard — — — — — 0.3 — 0.3 Total $ 369.2 $ 204.9 $ 189.0 $ 52.1 $ 35.0 $ 115.7 $ 1.0 $ 966.9 December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Land, acquisition and development: Pass $ 152.5 $ 114.4 $ 29.5 $ 17.0 $ 10.9 $ 28.4 $ 22.2 $ 374.9 Special mention 6.7 — — — 0.2 0.3 — 7.2 Substandard — 0.3 0.2 — — 0.4 — 0.9 Doubtful — 3.2 — — — — — 3.2 Total $ 159.2 $ 117.9 $ 29.7 $ 17.0 $ 11.1 $ 29.1 $ 22.2 $ 386.2 Residential construction: Pass $ 118.4 $ 119.9 $ 0.4 $ 0.3 $ 0.4 $ 5.8 $ 270.1 $ 515.3 Substandard — 0.5 — — — 0.4 — 0.9 Total $ 118.4 $ 120.4 $ 0.4 $ 0.3 $ 0.4 $ 6.2 $ 270.1 $ 516.2 Commercial construction: Pass $ 442.7 $ 374.8 $ 89.7 $ 45.9 $ 0.4 $ — $ 10.6 $ 964.1 Special mention 2.3 — 23.1 — — — 11.3 36.7 Substandard 16.8 24.4 — — — — — 41.2 Total $ 461.8 $ 399.2 $ 112.8 $ 45.9 $ 0.4 $ — $ 21.9 $ 1,042.0 Agricultural real estate: Pass $ 180.0 $ 172.8 $ 109.5 $ 64.8 $ 46.6 $ 105.1 $ 31.4 $ 710.2 Special mention 22.4 0.7 1.2 2.6 10.0 3.2 11.0 51.1 Substandard 1.8 12.3 3.5 0.6 2.7 11.3 0.1 32.3 Doubtful — — 1.3 — — — — 1.3 Total $ 204.2 $ 185.8 $ 115.5 $ 68.0 $ 59.3 $ 119.6 $ 42.5 $ 794.9 Commercial and floor plans: Pass $ 501.7 $ 358.9 $ 214.4 $ 124.3 $ 120.3 $ 171.1 $ 631.6 $ 2,122.3 Special mention 15.9 6.8 1.3 4.4 0.9 4.9 18.5 52.7 Substandard 9.8 3.3 3.7 3.4 3.2 2.1 47.2 72.7 Doubtful 0.3 1.3 — — — — 0.1 1.7 Total $ 527.7 $ 370.3 $ 219.4 $ 132.1 $ 124.4 $ 178.1 $ 697.4 $ 2,249.4 Commercial purpose secured by 1-4 family: Pass $ 191.7 $ 134.5 $ 69.8 $ 30.4 $ 29.9 $ 39.5 $ 28.9 $ 524.7 Special mention 0.1 1.2 2.1 0.2 1.4 0.2 — 5.2 Substandard 0.2 0.3 0.1 0.3 0.9 1.2 — 3.0 Total $ 192.0 $ 136.0 $ 72.0 $ 30.9 $ 32.2 $ 40.9 $ 28.9 $ 532.9 Agricultural: Pass $ 127.2 $ 59.7 $ 31.8 $ 10.6 $ 8.6 $ 3.1 $ 375.1 $ 616.1 Special mention 26.1 2.8 0.4 1.0 0.3 — 26.2 56.8 Substandard 22.8 4.6 2.8 0.6 1.2 0.2 0.8 33.0 Doubtful — 0.5 — — — — — 0.5 Total $ 176.1 $ 67.6 $ 35.0 $ 12.2 $ 10.1 $ 3.3 $ 402.1 $ 706.4 March 31, 2023 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Residential 1-4 family: Performing $ 13.3 $ 266.1 $ 508.2 $ 532.9 $ 95.2 $ 232.5 $ — $ 1,648.2 Nonperforming — — 0.3 0.1 0.4 3.6 — 4.4 Total $ 13.3 $ 266.1 $ 508.5 $ 533.0 $ 95.6 $ 236.1 $ — $ 1,652.6 Current-period gross charge-offs — — — — — 0.1 — 0.1 Consumer home equity and HELOC: Performing $ 4.7 $ 22.9 $ 7.0 $ 4.6 $ 5.2 $ 18.7 $ 472.3 $ 535.4 Nonperforming 0.1 0.6 0.5 0.2 0.2 1.3 0.2 3.1 Total $ 4.8 $ 23.5 $ 7.5 $ 4.8 $ 5.4 $ 20.0 $ 472.5 $ 538.5 Current-period gross charge-offs 0.3 — — 0.1 — — — 0.4 Consumer indirect: Performing $ 63.4 $ 352.8 $ 159.2 $ 116.4 $ 52.1 $ 70.3 $ — $ 814.2 Nonperforming — 0.8 1.1 0.5 0.2 0.5 — 3.1 Total $ 63.4 $ 353.6 $ 160.3 $ 116.9 $ 52.3 $ 70.8 $ — $ 817.3 Current-period gross charge-offs — 0.9 0.6 0.2 — 0.1 — 1.8 Consumer direct and advance line: Performing $ 11.2 $ 47.4 $ 28.0 $ 15.6 $ 7.2 $ 13.2 $ 23.9 $ 146.5 Nonperforming — 0.1 0.1 0.1 — 0.1 — 0.4 Total $ 11.2 $ 47.5 $ 28.1 $ 15.7 $ 7.2 $ 13.3 $ 23.9 $ 146.9 Current-period gross charge-offs — 0.2 0.1 — — 0.7 0.1 1.1 December 31, 2022 Term Loans Amortized Cost Basis by Origination Year Risk by Collateral 2022 2021 2020 2019 2018 Prior Revolving Loans Amortized Cost Basis Total Residential 1-4 family: Performing $ 258.9 $ 490.3 $ 541.6 $ 98.0 $ 32.0 $ 213.8 $ — $ 1,634.6 Nonperforming — 0.2 0.1 0.5 0.3 3.7 — 4.8 Total $ 258.9 $ 490.5 $ 541.7 $ 98.5 $ 32.3 $ 217.5 $ — $ 1,639.4 Consumer home equity and HELOC: Performing $ 23.8 $ 8.0 $ 5.2 $ 5.5 $ 5.6 $ 15.2 $ 482.8 $ 546.1 Nonperforming 0.6 0.3 0.2 0.2 0.1 1.2 0.2 2.8 Total $ 24.4 $ 8.3 $ 5.4 $ 5.7 $ 5.7 $ 16.4 $ 483.0 $ 548.9 Consumer indirect: Performing $ 380.3 $ 176.4 $ 130.0 $ 59.7 $ 33.6 $ 46.3 $ — $ 826.3 Nonperforming 1.0 0.9 0.6 0.3 0.2 0.4 — 3.4 Total $ 381.3 $ 177.3 $ 130.6 $ 60.0 $ 33.8 $ 46.7 $ — $ 829.7 Consumer direct and advance line: Performing $ 52.6 $ 31.9 $ 18.2 $ 8.5 $ 6.5 $ 8.9 $ 25.8 $ 152.4 Nonperforming 0.1 0.1 0.1 — — 0.1 0.1 0.5 Total $ 52.7 $ 32.0 $ 18.3 $ 8.5 $ 6.5 $ 9.0 $ 25.9 $ 152.9 As of March 31, 2023 Consumer Commercial Agricultural Total Credit Card: Performing $ 70.9 $ 104.6 $ 1.9 $ 177.4 Nonperforming 0.6 0.4 — 1.0 Total credit card $ 71.5 $ 105.0 $ 1.9 $ 178.4 Current-period gross charge-offs $ 0.5 $ 0.1 $ — $ 0.6 As of December 31, 2022 Consumer Commercial Agricultural Total Credit Card: Performing $ 75.4 $ 100.0 $ 1.9 $ 177.3 Nonperforming 0.5 0.3 — 0.8 Total credit card $ 75.9 $ 100.3 $ 1.9 $ 178.1 |
Financial Receivable, Excluding Accrued Interest, Modified Period, Financial Difficulty | The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty during the three months ended March 31, 2023: Principal Forgiveness Weighted-Average Months of Term Extension Commercial real estate non-owner occupied $ — 4.0 Commercial real estate owner occupied 1.3 9.7 Land acquisition & development construction real estate — 12.4 Home equity and HELOC residential real estate 0.3 37.6 Agricultural real estate — 7.2 Commercial and floor plans — 11.5 Commercial purpose 1-4 family — 8.7 Agricultural — 9.3 Loans held for investment (1) $ 1.6 |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Repossessed Assets [Abstract] | |
Other Real Estate Owned Roll Forward | Other real estate owned is a category of real estate owned by the Company as a result of a default by the borrower. Information with respect to the Company’s other real estate owned is reflected in the following table: Three Months Ended March 31, 2023 2022 Beginning balance $ 12.7 $ 2.0 Acquired through acquisition — 15.8 Additions 0.8 — Valuation adjustments (0.1) — Dispositions — (0.3) Ending balance $ 13.4 $ 17.5 |
Derivatives and Hedging Activ_2
Derivatives and Hedging Activities (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Schedule of Fair Value Hedging Instruments, Statements of Financial Performance and Financial Position, Location | The following amounts were recorded on the consolidated balance sheets related to cumulative basis adjustment for fair value hedges for the periods indicated: March 31, 2023 December 31, 2022 Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Carrying Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Available-for-sale securities $ 192.2 $ 7.8 $ 191.9 $ 8.1 |
Schedule of Derivatives Instruments Statements of Financial Performance and Financial Position, Location | The following table summarizes the fair values of our derivative instruments on a gross and net basis for the periods indicated. The derivative asset and liability balances are presented on a gross basis, prior to the application of bilateral collateral and master netting agreements, but after the variation margin payments with central clearing organizations have been applied as settlement, as applicable. Total derivative assets and liabilities are adjusted to take into account the impact of legally enforceable master netting agreements that allow us to settle all derivative contracts with a single counterparty on a net basis and to offset the net derivative position with the related cash collateral. Securities collateral related to legally enforceable master netting agreements is not offset on the consolidated balance sheets. March 31, 2023 December 31, 2022 Notional Amount Consolidated Balance Sheet Location Estimated Notional Amount Consolidated Balance Sheet Location Estimated Derivatives designated as accounting hedges: Interest rate swap contracts $ 850.0 $ 11.7 $ 550.0 $ 3.5 Derivatives not designated as accounting hedges: Interest rate swap contracts 1,674.7 31.1 1,728.1 41.6 Interest rate lock commitments 36.2 0.3 — — Forward loan sales contracts — — 12.6 0.1 Derivative assets $ 2,560.9 Other assets $ 43.1 $ 2,290.7 Other assets $ 45.2 Derivatives designated as accounting hedges: Interest rate collars $ 300.0 $ 3.9 $ 300.0 $ 5.4 Interest rate swap contracts — — 300.0 0.3 Derivatives not designated as accounting hedges: Interest rate swap contracts 1,674.7 122.7 1,728.1 153.9 Risk participation agreements 104.7 — 106.1 — Interest rate lock commitments — — 14.8 — Forward loan sales contracts 32.2 0.1 — — Derivative liabilities $ 2,111.6 Accounts payable and accrued expenses $ 126.7 $ 2,449.0 Accounts payable and accrued expenses $ 159.6 |
Derivatives Not Designated as Hedging Instruments | The table below presents the effect of the Company’s derivative financial instruments that are not designated as hedging instruments on the consolidated statements of income (loss) for the periods indicated: Three Months Ended March 31, 2023 2022 Location of (Loss) Gain Recognized in Income on Derivative Amount of Loss (Gain) Recognized in Income on Derivative Interest rate lock commitments Mortgage banking revenues $ 0.1 $ (0.5) |
Schedule of Derivative Instruments | The tables below present the gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of the dates indicated: March 31, 2023 Gross Assets Recognized Gross Assets Offset in the Balance Sheet Net Assets in the Balance Sheet Financial Instruments Cash Collateral Received (1) Net Amount Interest rate swap contracts $ 42.8 $ — $ 42.8 $ — $ 42.8 $ — Mortgage related derivatives 0.3 — 0.3 — — 0.3 Total derivatives 43.1 — 43.1 — 42.8 0.3 Total assets $ 43.1 $ — $ 43.1 $ — $ 42.8 $ 0.3 (1) Netting adjustments represent the amounts recorded to convert derivatives assets and liabilities from a gross basis to a net basis in accordance with the applicable accounting guidance. The application of the collateral cannot reduce the net derivative position below zero. Therefore, excess collateral, if any, is not reflected above. Gross Liabilities Recognized Gross Liabilities Offset in the Balance Sheet Net Liabilities in the Balance Sheet Financial Instruments Cash Collateral Posted Net Amount Interest rate swap and collar contracts $ 126.6 $ — $ 126.6 $ — $ — $ 126.6 Mortgage related derivatives 0.1 — 0.1 — — 0.1 Total derivatives 126.7 — 126.7 — — 126.7 Repurchase agreements 970.8 — 970.8 — 970.8 — Total liabilities $ 1,097.5 $ — $ 1,097.5 $ — $ 970.8 $ 126.7 December 31, 2022 Gross Assets Recognized Gross Assets Offset in the Balance Sheet Net Assets in the Balance Sheet Financial Instruments Cash Collateral Received Net Amount Interest rate swap contracts $ 45.1 $ — $ 45.1 $ — $ 45.1 $ — Mortgage related derivatives 0.1 — 0.1 — — 0.1 Total derivatives 45.2 — 45.2 — 45.1 0.1 Total assets $ 45.2 $ — $ 45.2 $ — $ 45.1 $ 0.1 Gross Liabilities Recognized Gross Liabilities Offset in the Balance Sheet Net Liabilities in the Balance Sheet Financial Instruments Cash Collateral Posted Net Amount Interest rate swap contracts $ 159.6 $ — $ 159.6 $ — $ — $ 159.6 Total derivatives 159.6 — 159.6 — — 159.6 Repurchase agreements 1,052.9 — 1,052.9 — 1,052.9 — Total liabilities $ 1,212.5 $ — $ 1,212.5 $ — $ 1,052.9 $ 159.6 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Earnings Per Share [Abstract] | |
Computation of Basic and Diluted Earnings per Share | The following table sets forth the computation of basic and diluted earnings per share for the periods presented: Three Months Ended March 31, 2023 2022 Net income (loss) $ 56.3 $ (33.4) Weighted average common shares outstanding for basic earnings per share computation 103,737,664 92,855,173 Dilutive effects of stock-based compensation 81,055 — Weighted average common shares outstanding for diluted earnings per common share computation 103,818,719 92,855,173 Basic earnings (loss) per common share $ 0.54 $ (0.36) Diluted earnings (loss) per common share $ 0.54 $ (0.36) Anti-dilutive unvested time restricted stock 132,410 55,504 |
Regulatory Capital (Tables)
Regulatory Capital (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Banking and Thrift, Other Disclosure [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations | Actual capital amounts and ratios for the Company and its subsidiary Bank, as of March 31, 2023 and December 31, 2022 are presented in the following tables: Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer (1) Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements (2) March 31, 2023 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 2,899.0 12.63 % $ 1,836.6 8.00 % $ 2,410.6 10.50 % $ 2,295.8 10.00 % FIB 2,740.5 11.96 1,833.0 8.00 2,405.8 10.50 2,291.2 10.00 Tier 1 risk-based capital: Consolidated 2,415.4 10.52 1,377.5 6.00 1,951.4 8.50 1,836.6 8.00 FIB 2,514.5 10.97 1,374.7 6.00 1,947.5 8.50 1,833.0 8.00 Common equity tier 1 risk-based capital: Consolidated 2,415.4 10.52 1,033.1 4.50 1,607.1 7.00 1,492.3 6.50 FIB 2,514.5 10.97 1,031.0 4.50 1,603.8 7.00 1,489.3 6.50 Leverage capital ratio: Consolidated 2,415.4 7.72 1,251.6 4.00 1,251.6 4.00 1,564.5 5.00 FIB 2,514.5 8.05 1,249.8 4.00 1,249.8 4.00 1,562.2 5.00 Actual Minimum Required for Capital Adequacy Purposes For Capital Adequacy Purposes Plus Capital Conservation Buffer (1) Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements (2) December 31, 2022 Amount Ratio Amount Ratio Amount Ratio Amount Ratio Total risk-based capital: Consolidated $ 2,875.8 12.48 % $ 1,843.2 8.00 % $ 2,419.2 10.50 % $ 2,304.0 10.00 % FIB 2,713.5 11.80 1,839.6 8.00 2,414.5 10.50 2,299.5 10.00 Tier 1 risk-based capital: Consolidated 2,408.8 10.45 1,382.4 6.00 1,958.4 8.50 1,843.2 8.00 FIB 2,504.1 10.89 1,379.7 6.00 1,954.6 8.50 1,839.6 8.00 Common equity tier 1 risk-based capital: Consolidated 2,408.8 10.45 1,036.8 4.50 1,612.8 7.00 1,497.6 6.50 FIB 2,504.1 10.89 1,034.8 4.50 1,609.7 7.00 1,494.7 6.50 Leverage capital ratio: Consolidated 2,408.8 7.75 1,242.9 4.00 1,242.9 4.00 1,553.6 5.00 FIB 2,504.1 8.07 1,241.1 4.00 1,241.1 4.00 1,551.4 5.00 (1) The capital conservation buffer is an additional 2.5% of the amount necessary to meet the minimum risk-based capital requirements for total, tier 1, and common equity tier 1 risk-based capital. (2) The ratios to meet the requirements to be deemed “well-capitalized” are only applicable to FIB. However, the Company manages its capital position as if the requirements apply to the consolidated company and has presented the ratios as if they also applied on a consolidated basis. |
Comprehensive Text Block List (
Comprehensive Text Block List (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Text Block [Abstract] | |
financial instruments with off-balance sheet risk | The following table presents our financial instruments with off-balance sheet risk, as well as the activity in the allowance for off-balance sheet credit losses related to those financial instruments: Three Months Ended March 31, 2023 2022 Beginning balance $ 16.2 $ 3.8 Provision for credit loss expense 1.6 2.4 Ending balance $ 17.8 $ 6.2 March 31, 2023 December 31, 2022 Unused credit card lines $ 819.8 $ 827.6 Commitments to extend credit 4,976.5 5,173.3 Standby letters of credit 83.0 93.8 |
Other Comprehensive Income_Lo_2
Other Comprehensive Income/Loss (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Equity [Abstract] | |
Schedule of Other Comprehensive Income and Related Tax Effects | The gross amounts of each component of other comprehensive income (loss) and the related tax effects are as follows: Pre-tax Tax Expense (Benefit) Net of Tax Three Months Ended March 31, 2023 2022 2023 2022 2023 2022 Investment securities available-for sale: Change in net unrealized gains (losses) during the period $ 78.2 $ (252.6) $ 19.6 $ (62.7) $ 58.6 $ (189.9) Reclassification adjustment for net losses included in income 23.4 0.1 5.8 — 17.6 0.1 Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale (7.2) 0.2 (1.8) 0.1 (5.4) 0.1 Net change in unamortized losses on available-for-sale investment securities transferred into held-to-maturity (0.4) (23.0) (0.1) (5.7) (0.3) (17.3) Change in net unrealized loss on derivatives 10.0 21.3 2.5 5.3 7.5 16.0 Total other comprehensive income (loss) $ 104.0 $ (254.0) $ 26.0 $ (63.0) $ 78.0 $ (191.0) |
Schedule of Accumulated Other Comprehensive Income (Loss) | The components of accumulated other comprehensive loss, net of related tax effects, are as follows: March 31, 2023 December 31, 2022 Net unrealized loss on investment securities available-for-sale $ (400.2) $ (471.0) Net unrealized loss on investment securities transferred to held-to-maturity (4.9) (4.5) Net unrealized gain (loss) on derivatives 6.0 (1.6) Net accumulated other comprehensive loss $ (399.1) $ (477.1) |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Disclosures [Abstract] | |
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring Basis | Financial assets and financial liabilities measured at fair value on a recurring basis are as follows: Fair Value Measurements at Reporting Date Using As of March 31, 2023 Fair Value Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: U.S. Treasury notes $ 223.2 $ — $ 223.2 $ — State, county, and municipal securities 221.1 — 221.1 — Obligations of U.S. government agencies 174.1 — 174.1 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 3,858.4 — 3,858.4 — Private mortgage-backed securities 225.1 — 225.1 — Collateralized loan obligations 1,113.9 — 1,113.9 — Corporate securities 233.5 — 233.5 — Loans held for sale 16.0 — 8.5 7.5 Derivative assets: Interest rate swap contracts 42.8 — 42.8 — Interest rate lock commitments 0.3 — 0.3 — Derivative liabilities: Interest rate collars 3.9 — 3.9 — Interest rate swap contracts 122.7 — 122.7 — Forward loan sale contracts 0.1 — 0.1 — Deferred compensation plan assets 17.3 — 17.3 — Deferred compensation plan liabilities 17.3 — 17.3 — Fair Value Measurements at Reporting Date Using As of December 31, 2022 Fair Value Quoted Prices in Significant Other Significant Investment debt securities available-for-sale: U.S. Treasury notes $ 642.7 $ — $ 642.7 $ — State, county and municipal securities 263.7 — 263.7 — Obligations of U.S. government agencies 198.9 — 198.9 — U.S. agencies mortgage-backed securities & collateralized mortgage obligations 4,259.7 — 4,259.7 — Private mortgage-backed securities 228.0 — 228.0 — Collateralized loan obligations 1,111.6 — 1,111.6 — Corporate securities 241.5 — 241.5 — Loans held for sale 12.4 — 6.9 5.5 Derivative assets: Interest rate swap contracts 45.1 — 45.1 — Forward loan sales contracts 0.1 — 0.1 — Derivative liabilities Interest rate collars 5.4 — 5.4 — Interest rate swap contracts 154.2 — 154.2 — Deferred compensation plan assets 18.7 — 18.7 — Deferred compensation plan liabilities 18.7 — 18.7 — |
Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Non-Recurring Basis | The following table presents information about the Company’s assets and liabilities measured at fair value on a non-recurring basis: Fair Value Measurements at Reporting Date Using As of March 31, 2023 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral-dependent loans $ 59.5 $ — $ — $ 59.5 Loans held for sale 64.9 — — 64.9 Other real estate owned 13.4 — — 13.4 Long-lived assets to be disposed of by sale 5.0 — — 5.0 Fair Value Measurements at Reporting Date Using As of December 31, 2022 Fair Value Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Significant Collateral-dependent loans $ 39.1 $ — $ — $ 39.1 Loans held for sale 67.5 — — 67.5 Other real estate owned 12.7 — — 12.7 Long-lived assets to be disposed of by sale 5.5 — — 5.5 |
Fair Value Inputs, Assets, Quantitative Information | The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis and for which the Company has utilized Level 3 inputs to determine fair values: Fair Value As of March 31, 2023 December 31, 2022 Valuation Unobservable Range Collateral-dependent loans $ 59.5 $ 39.1 Appraisal Appraisal adjustment 0% - 45% (7%) Loans held for sale 64.9 67.5 Fair value of collateral Discount for type of property, age of appraisal, and current status 11% - 23% (17%) Other real estate owned 13.4 12.7 Appraisal Appraisal adjustment 15% - 36% (22%) Long-lived assets to be disposed of by sale 5.0 5.5 Appraisal Appraisal adjustment 0% - 6% (3%) |
Fair Value, by Balance Sheet Grouping | The estimated fair values of financial instruments that are reported in the Company’s consolidated balance sheets, and are segregated by the level of the valuation inputs within the fair value hierarchy that are utilized to measure fair value, are as follows: Fair Value Measurements at Reporting Date Using As of March 31, 2023 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 1,080.7 $ 1,080.7 $ 1,080.7 $ — $ — Investment debt securities available-for-sale 6,049.3 6,049.3 — 6,049.3 — Investment debt securities held-to-maturity 3,376.2 3,025.8 — 3,025.8 — Accrued interest receivable 113.7 113.7 — 113.7 — Mortgage servicing rights, net 30.1 38.1 — 38.1 — Loans held for sale 80.9 80.9 — 8.5 72.4 Net loans held for investment 18,019.6 17,585.5 — 17,526.0 59.5 Derivative assets 43.1 43.1 — 43.1 — Deferred compensation plan assets 17.3 17.3 — 17.3 — Total financial assets $ 28,810.9 $ 28,034.4 $ 1,080.7 $ 26,821.8 $ 131.9 Financial liabilities: Total deposits, excluding time deposits $ 21,858.1 $ 21,858.1 $ 21,858.1 $ — $ — Time deposits 2,248.9 2,198.8 — 2,198.8 — Securities sold under repurchase agreements 970.8 970.8 — 970.8 — Other borrowed funds 2,710.0 2,710.0 — 2,710.0 — Accrued interest payable 26.1 26.1 — 26.1 — Long-term debt 120.8 114.5 — 114.5 — Subordinated debentures held by subsidiary trusts 163.1 157.8 — 157.8 — Derivative liabilities 126.7 126.7 — 126.7 — Deferred compensation plan liabilities 17.3 17.3 — 17.3 — Total financial liabilities $ 28,241.8 $ 28,180.1 $ 21,858.1 $ 6,322.0 $ — Fair Value Measurements at Reporting Date Using As of December 31, 2022 Carrying Amount Estimated Quoted Prices in Active Markets for Significant Other Significant Financial assets: Cash and cash equivalents $ 870.5 $ 870.5 $ 870.5 $ — $ — Investment debt securities available-for-sale 6,946.1 6,946.1 — 6,946.1 — Investment debt securities held-to-maturity 3,451.8 3,052.2 — 3,052.2 — Accrued interest receivable 118.3 118.3 — 118.3 — Mortgage servicing rights, net 31.1 37.4 — 37.4 — Loans held for sale 79.9 79.9 — 6.9 73.0 Net loans held for investment 17,879.1 17,552.1 — 17,513.0 39.1 Derivative assets 45.2 45.2 — 45.2 — Deferred compensation plan assets 18.7 18.7 — 18.7 — Total financial assets $ 29,440.7 $ 28,720.4 $ 870.5 $ 27,737.8 $ 112.1 Financial liabilities: Total deposits, excluding time deposits $ 23,145.2 $ 23,145.2 $ 23,145.2 $ — $ — Time deposits 1,928.4 1,876.1 — 1,876.1 — Securities sold under repurchase agreements 1,052.9 1,052.9 — 1,052.9 — Other borrowed funds 2,327.0 2,327.0 — 2,327.0 — Accrued interest payable 14.5 14.5 — 14.5 — Long-term debt 120.8 116.3 — 116.3 — Subordinated debentures held by subsidiary trusts 163.1 155.8 — 155.8 — Derivative liabilities 159.6 159.6 — 159.6 — Deferred compensation plan liabilities 18.7 18.7 — 18.7 — Total financial liabilities $ 28,930.2 $ 28,866.1 $ 23,145.2 $ 5,720.9 $ — |
Acquisitions - Narrative (Detai
Acquisitions - Narrative (Details) $ / shares in Units, shares in Millions, $ in Millions | 3 Months Ended | |||
Feb. 01, 2022 USD ($) office $ / shares shares | Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Business Acquisition [Line Items] | ||||
Goodwill | $ 1,100.9 | $ 1,100.9 | ||
Acquisition related expenses | $ 0 | $ 65.2 | ||
Business Acquisition, Goodwill, Expected Tax Deductible Amount | $ 31.7 | |||
Core Deposits | ||||
Business Acquisition [Line Items] | ||||
Estimated useful lives of related deposits | 10 years | |||
Great Western Bank | ||||
Business Acquisition [Line Items] | ||||
Number of banking offices acquired | office | 174 | |||
Total consideration exchanged | $ 1,723.3 | |||
Goodwill | 479.3 | |||
Core deposit intangibles | 50.1 | |||
Customer relationship intangible | 22.8 | |||
Great Western Bank | First Interstate Foundation | ||||
Business Acquisition [Line Items] | ||||
Acquisition related costs | 21.5 | |||
Great Western Bank | Scott Family | ||||
Business Acquisition [Line Items] | ||||
Acquisition related costs | $ 8.2 | |||
Great Western Bank | Class A Common Stock | ||||
Business Acquisition [Line Items] | ||||
Number of shares issued in connection with Cascade merger (in shares) | shares | 46.9 | |||
Price per share of First Interstate Class A common stock (in dollars per share) | $ / shares | $ 36.76 |
Acquisitions - Schedule of Reco
Acquisitions - Schedule of Recognized Identifiable Assets Acquired and Liabilities Assumed (Details) - USD ($) $ in Thousands | Feb. 01, 2022 | Mar. 31, 2023 | Dec. 31, 2022 |
Liabilities assumed: | |||
Goodwill | $ 1,100,900 | $ 1,100,900 | |
Great Western Bank | |||
Assets acquired: | |||
Cash and cash equivalents | $ 2,006,900 | ||
Investment securities | 2,699,000 | ||
Securities purchased under agreement to resell | 101,100 | ||
Loans held for sale | 217,000 | ||
Loans held for investment | 7,705,000 | ||
Allowance for credit losses | (59,500) | ||
Premises and equipment, including right of use lease assets | 144,700 | ||
OREO | 15,800 | ||
Company-owned life insurance | 186,600 | ||
Core deposit intangibles | 50,100 | ||
Customer relationship intangible | 22,800 | ||
Mortgage servicing rights | 1,300 | ||
Deferred tax assets, net | 60,200 | ||
Other assets | 200,800 | ||
Total assets acquired | 13,351,800 | ||
Liabilities assumed: | |||
Deposits | 11,688,000 | ||
Securities sold under repurchase agreements | 74,000 | ||
Accrued expenses and other liabilities | 110,400 | ||
FHLB advances | 122,900 | ||
Subordinated debt | 36,400 | ||
Subordinated debentures held by subsidiary trusts | 76,100 | ||
Total liabilities assumed | 12,107,800 | ||
Net assets acquired | 1,244,000 | ||
Class A common stock | 1,723,300 | ||
Total consideration paid (1) | 1,723,300 | ||
Goodwill | 479,300 | ||
Cash paid in lieu of fractional shares | $ 13 |
Acquisitions - Schedule of Acqu
Acquisitions - Schedule of Acquired loans with Credit Impairment (Details) $ in Millions | Feb. 01, 2022 USD ($) |
Business Acquisition [Line Items] | |
Purchase price (initial fair value) | $ 623.3 |
Allowance for credit losses | $ 298.2 |
Acquisitions - Schedule of Ac_2
Acquisitions - Schedule of Acquired Loans not Deemed to Have Credit Impairment (Details) $ in Millions | Feb. 01, 2022 USD ($) |
Business Acquisition [Line Items] | |
Purchase price (initial fair value) | $ 623.3 |
Allowance for credit losses | $ 298.2 |
Acquisitions - Summary of Pro F
Acquisitions - Summary of Pro Forma Financial Information (Details) $ / shares in Units, $ in Millions | 3 Months Ended |
Mar. 31, 2022 USD ($) $ / shares | |
Business Acquisition [Line Items] | |
Business Acquisition, Pro Forma Earnings Per Share, Basic | $ / shares | $ 0.70 |
Business Acquisition, Pro Forma Earnings Per Share, Diluted | $ / shares | $ 0.70 |
Great Western Bank | |
Business Acquisition [Line Items] | |
Total revenues | $ | $ 268.9 |
Net income | $ | $ 76.4 |
Goodwill and Core Deposit Int_3
Goodwill and Core Deposit Intangibles - Narrative (Details) - USD ($) | 3 Months Ended | ||
Jul. 01, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | |
Goodwill and Intangible Assets Disclosure [Abstract] | |||
Impairment of goodwill | $ 0 | ||
Goodwill [Line Items] | |||
Amortization of intangible assets | $ 4,000,000 | $ 3,600,000 | |
Core Deposits | |||
Goodwill [Line Items] | |||
Weighted average useful lives of related deposits | 10 years | ||
OCRI | |||
Goodwill [Line Items] | |||
Weighted average useful lives of related deposits | 12 years |
Goodwill and Core Deposit Int_4
Goodwill and Core Deposit Intangibles - Goodwill Carrying Value (Details) $ in Millions | Mar. 31, 2023 USD ($) |
Goodwill [Roll Forward] | |
Net carrying value at beginning of the period | $ 1,100.9 |
Net carrying value at end of period | $ 1,100.9 |
Goodwill and Core Deposit Int_5
Goodwill and Core Deposit Intangibles - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2022 | Mar. 31, 2023 | Dec. 31, 2021 | |
Finite-Lived Intangible Assets [Line Items] | |||
2024 | $ 14.6 | ||
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-Lived Intangible Assets, Gross | $ 177.5 | $ 106 | |
Finite-Lived Intangible Assets Acquired | 72.9 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | (1.4) | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (80.5) | (84.5) | |
75900000 | 97 | 93 | |
Core Deposits | |||
Finite-Lived Intangible Assets [Line Items] | |||
2024 | 12.7 | ||
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-Lived Intangible Assets, Gross | 154.7 | 106 | |
Finite-Lived Intangible Assets Acquired | 50.1 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | (1.4) | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (78.8) | (82.3) | |
75900000 | 75.9 | 72.4 | |
OCRI | |||
Finite-Lived Intangible Assets [Line Items] | |||
2024 | 1.9 | ||
Finite-lived Intangible Assets [Roll Forward] | |||
Finite-Lived Intangible Assets, Gross | 22.8 | $ 0 | |
Finite-Lived Intangible Assets Acquired | 22.8 | ||
Finite-Lived Intangible Assets, Period Increase (Decrease) | 0 | ||
Finite-Lived Intangible Assets, Accumulated Amortization | (1.7) | (2.2) | |
75900000 | $ 21.1 | $ 20.6 |
Goodwill and Core Deposit Int_6
Goodwill and Core Deposit Intangibles - Schedule of Future Amortization Expense (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Finite-Lived Intangible Assets [Line Items] | ||
2023 remaining | $ 11.6 | |
2024 | 14.6 | |
2025 | 13.7 | |
2026 | 12.8 | |
2027 | 10.1 | |
Finite-Lived Intangible Asset, Expected Amortization, After Year Four | 30.2 | |
Total | 93 | $ 97 |
Core Deposits | ||
Finite-Lived Intangible Assets [Line Items] | ||
2023 remaining | 10.2 | |
2024 | 12.7 | |
2025 | 11.8 | |
2026 | 10.9 | |
2027 | 8.2 | |
Finite-Lived Intangible Asset, Expected Amortization, After Year Four | 18.6 | |
Total | 72.4 | 75.9 |
OCRI | ||
Finite-Lived Intangible Assets [Line Items] | ||
2023 remaining | 1.4 | |
2024 | 1.9 | |
2025 | 1.9 | |
2026 | 1.9 | |
2027 | 1.9 | |
Finite-Lived Intangible Asset, Expected Amortization, After Year Four | 11.6 | |
Total | $ 20.6 | $ 21.1 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Approximate Fair Values of Investment Securities (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Available-for-Sale: | ||||
Gross Unrealized Gains | $ 0.2 | $ 2.3 | ||
Gross Unrealized Losses | (533.1) | (629.7) | ||
Held-to-Maturity: | ||||
Investment securities classified as held to maturity | 3,376.9 | 3,453.7 | ||
Allowance for Credit Losses | (0.7) | $ (1.6) | (1.9) | $ 0 |
Net Amortized Cost | 3,376.2 | 3,451.8 | ||
Gross Unrealized Gains | 1.4 | 0.4 | ||
Gross Unrealized Losses | (351.8) | (400) | ||
Investment debt securities held-to-maturity | 3,025.8 | 3,052.2 | ||
Estimated Fair Value | 6,049.3 | 6,946.1 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 6,582.2 | 7,573.5 | ||
U.S. Treasury notes | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0 | 2.1 | ||
Gross Unrealized Losses | (26.9) | (34.5) | ||
Held-to-Maturity: | ||||
Investment securities classified as held to maturity | 397.2 | 396.6 | ||
Allowance for Credit Losses | 0 | 0 | ||
Net Amortized Cost | 397.2 | 396.6 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (7.6) | (10.2) | ||
Investment debt securities held-to-maturity | 389.6 | 386.4 | ||
Estimated Fair Value | 223.2 | 642.7 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 250.1 | 675.1 | ||
State, county, and municipal securities | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (40.9) | (50.6) | ||
Held-to-Maturity: | ||||
Investment securities classified as held to maturity | 180.9 | 181.2 | ||
Allowance for Credit Losses | 0 | (0.1) | ||
Net Amortized Cost | 180.9 | 181.1 | ||
Gross Unrealized Gains | 0.4 | 0.2 | ||
Gross Unrealized Losses | (25.2) | (31.6) | ||
Investment debt securities held-to-maturity | 156.1 | 149.7 | ||
Estimated Fair Value | 221.1 | 263.7 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 262 | 314.3 | ||
Obligations of U.S. government agencies | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (12.3) | (17.3) | ||
Held-to-Maturity: | ||||
Investment securities classified as held to maturity | 352.3 | 351.7 | ||
Allowance for Credit Losses | 0 | 0 | ||
Net Amortized Cost | 352.3 | 351.7 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (44.7) | (49.6) | ||
Investment debt securities held-to-maturity | 307.6 | 302.1 | ||
Estimated Fair Value | 174.1 | 198.9 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 186.4 | 216.2 | ||
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0.2 | 0.2 | ||
Gross Unrealized Losses | (362.8) | (426) | ||
Held-to-Maturity: | ||||
Investment securities classified as held to maturity | 2,389.4 | 2,444.1 | ||
Allowance for Credit Losses | 0 | 0 | ||
Net Amortized Cost | 2,389.4 | 2,444.1 | ||
Gross Unrealized Gains | 1 | 0.2 | ||
Gross Unrealized Losses | (269.7) | (301.6) | ||
Investment debt securities held-to-maturity | 2,120.7 | 2,142.7 | ||
Debt Securities, Held-To-Maturity, Transfer, Unamortized Gain | 13.2 | $ 20.1 | ||
Debt Securities, Held-To-Maturity, Transfer, Unamortized Loss | (19.7) | |||
Estimated Fair Value | 3,858.4 | 4,259.7 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 4,221 | 4,685.5 | ||
Private mortgage-backed securities | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (35.2) | (36.9) | ||
Held-to-Maturity: | ||||
Estimated Fair Value | 225.1 | 228 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 260.3 | 264.9 | ||
Collateralized Loan Obligations | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (29.4) | (33.6) | ||
Held-to-Maturity: | ||||
Estimated Fair Value | 1,113.9 | 1,111.6 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 1,143.3 | 1,145.2 | ||
Corporate Debt Securities | ||||
Available-for-Sale: | ||||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (25.6) | (30.8) | ||
Held-to-Maturity: | ||||
Investment securities classified as held to maturity | 57.1 | 80.1 | ||
Allowance for Credit Losses | (0.7) | (1.8) | ||
Net Amortized Cost | 56.4 | 78.3 | ||
Gross Unrealized Gains | 0 | 0 | ||
Gross Unrealized Losses | (4.6) | (7) | ||
Investment debt securities held-to-maturity | 51.8 | 71.3 | ||
Estimated Fair Value | 233.5 | 241.5 | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | $ 259.1 | $ 272.3 |
Investment Securities - Gross U
Investment Securities - Gross Unrealized Losses and Fair Values of Investment Securities (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Available-for-Sale: | ||
Fair Value, Less than 12 Months | $ 1,728.8 | $ 5,071.9 |
Gross Unrealized Losses, Less than 12 Months | (74.9) | (346.6) |
Fair Value, 12 Months or Longer | 4,306.5 | 1,545.6 |
Gross Unrealized Losses, 12 Months or Longer | (458.2) | (283.1) |
Fair Value, Total | 6,035.3 | 6,617.5 |
Gross Unrealized Losses, Total | (533.1) | (629.7) |
Allowance for Credit Losses | (2.6) | 0 |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 6,582.2 | 7,573.5 |
Gross Unrealized Gains | 0.2 | 2.3 |
Gross Unrealized Losses | (533.1) | (629.7) |
Estimated Fair Value | 6,049.3 | 6,946.1 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 6,584.8 | |
US Treasury Notes Securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 48.1 | |
Gross Unrealized Losses, Less than 12 Months | (1.3) | |
Fair Value, 12 Months or Longer | 175.1 | |
Gross Unrealized Losses, 12 Months or Longer | (25.6) | |
Fair Value, Total | 223.2 | |
Gross Unrealized Losses, Total | (26.9) | |
U.S. Treasury notes | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 168.8 | |
Gross Unrealized Losses, Less than 12 Months | (4.7) | |
Fair Value, 12 Months or Longer | 170.4 | |
Gross Unrealized Losses, 12 Months or Longer | (29.8) | |
Fair Value, Total | 339.2 | |
Gross Unrealized Losses, Total | (34.5) | |
Allowance for Credit Losses | 0 | |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 250.1 | 675.1 |
Gross Unrealized Gains | 0 | 2.1 |
Gross Unrealized Losses | (26.9) | (34.5) |
Estimated Fair Value | 223.2 | 642.7 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 250.1 | |
State, county, and municipal securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 8 | 104.9 |
Gross Unrealized Losses, Less than 12 Months | (0.3) | (9) |
Fair Value, 12 Months or Longer | 210 | 146.1 |
Gross Unrealized Losses, 12 Months or Longer | (40.6) | (41.6) |
Fair Value, Total | 218 | 251 |
Gross Unrealized Losses, Total | (40.9) | (50.6) |
Allowance for Credit Losses | 0 | |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 262 | 314.3 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (40.9) | (50.6) |
Estimated Fair Value | 221.1 | 263.7 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 262 | |
Obligations of U.S. government agencies | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 86.7 | 152.2 |
Gross Unrealized Losses, Less than 12 Months | (4) | (10.1) |
Fair Value, 12 Months or Longer | 86.8 | 46.1 |
Gross Unrealized Losses, 12 Months or Longer | (8.3) | (7.2) |
Fair Value, Total | 173.5 | 198.3 |
Gross Unrealized Losses, Total | (12.3) | (17.3) |
Allowance for Credit Losses | 0 | |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 186.4 | 216.2 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (12.3) | (17.3) |
Estimated Fair Value | 174.1 | 198.9 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 186.4 | |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 1,388.6 | 3,299.7 |
Gross Unrealized Losses, Less than 12 Months | (63.5) | (262.3) |
Fair Value, 12 Months or Longer | 2,459.5 | 948.4 |
Gross Unrealized Losses, 12 Months or Longer | (299.3) | (163.7) |
Fair Value, Total | 3,848.1 | 4,248.1 |
Gross Unrealized Losses, Total | (362.8) | (426) |
Allowance for Credit Losses | 0 | |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 4,221 | 4,685.5 |
Gross Unrealized Gains | 0.2 | 0.2 |
Gross Unrealized Losses | (362.8) | (426) |
Estimated Fair Value | 3,858.4 | 4,259.7 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 4,221 | |
Private mortgage-backed securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 0.1 | 133.1 |
Gross Unrealized Losses, Less than 12 Months | 0 | (19.1) |
Fair Value, 12 Months or Longer | 225 | 94.9 |
Gross Unrealized Losses, 12 Months or Longer | (35.2) | (17.8) |
Fair Value, Total | 225.1 | 228 |
Gross Unrealized Losses, Total | (35.2) | (36.9) |
Allowance for Credit Losses | 0 | |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 260.3 | 264.9 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (35.2) | (36.9) |
Estimated Fair Value | 225.1 | 228 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 260.3 | |
Collateralized Loan Obligations | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 117.3 | 1,082.6 |
Gross Unrealized Losses, Less than 12 Months | (3) | (33.1) |
Fair Value, 12 Months or Longer | 996.6 | 28.9 |
Gross Unrealized Losses, 12 Months or Longer | (26.4) | (0.5) |
Fair Value, Total | 1,113.9 | 1,111.5 |
Gross Unrealized Losses, Total | (29.4) | (33.6) |
Allowance for Credit Losses | ||
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 1,143.3 | 1,145.2 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (29.4) | (33.6) |
Estimated Fair Value | 1,113.9 | 1,111.6 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | 1,143.3 | |
Corporate Debt Securities | ||
Available-for-Sale: | ||
Fair Value, Less than 12 Months | 80 | 130.6 |
Gross Unrealized Losses, Less than 12 Months | (2.8) | (8.3) |
Fair Value, 12 Months or Longer | 153.5 | 110.8 |
Gross Unrealized Losses, 12 Months or Longer | (22.8) | (22.5) |
Fair Value, Total | 233.5 | 241.4 |
Gross Unrealized Losses, Total | (25.6) | (30.8) |
Allowance for Credit Losses | (2.6) | |
Debt Securities, Available-for-Sale, Amortized Cost, after Allowance for Credit Loss | 259.1 | 272.3 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | (25.6) | (30.8) |
Estimated Fair Value | 233.5 | $ 241.5 |
Debt Securities, Available-for-Sale, Amortized Cost, Excluding Accrued Interest, before Allowance for Credit Loss | $ 261.7 |
Investment Securities - Narrati
Investment Securities - Narrative (Details) | 3 Months Ended | ||||
Mar. 13, 2023 USD ($) | Mar. 31, 2023 USD ($) Investments | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) Investments | Dec. 31, 2021 USD ($) | |
Schedule of Held-to-maturity Securities [Line Items] | |||||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Transfer, Amount | $ 23,000,000 | ||||
Debt Securities, Held-To-Maturity, After Allowance For Credit Loss, Transfer, Amount | 13,200,000 | ||||
Allowance for Credit Losses | $ 800,000 | $ 0 | |||
Debt Securities, Held-to-maturity, Allowance for Credit Loss | $ 700,000 | $ 1,600,000 | 1,900,000 | $ 0 | |
Interest Receivable | 113,700,000 | 118,300,000 | |||
Debt Securities, Available-for-sale, Realized Gain | 0 | 0 | |||
Debt Securities, Available-for-sale, Realized Loss | (23,400,000) | $ 0 | |||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 3,607,300,000 | 4,998,900,000 | |||
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | $ 3,228,500,000 | $ 4,432,000,000 | |||
Investment securities in an unrealized loss position (securities) | Investments | 1,023 | 1,222 | |||
Callable Within One Year | |||||
Schedule of Held-to-maturity Securities [Line Items] | |||||
Amortized cost of investment securities callable after one year but within five years | $ 1,525,900,000 | ||||
Fair value of investment securities callable after one year but within five years | 1,446,900,000 | ||||
Callable structured notes amortized costs | $ 0 |
Investment Securities - Held-To
Investment Securities - Held-To-Maturity Allowance For Credit Loss (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Debt Securities, Held-to-maturity, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | $ 1.9 | $ 0 |
Reversal of held-to-maturity credit loss losses | (1.2) | 1.6 |
Debt Securities, Available-for-Sale and Held-to-Maturity, Allowance for Credit Loss | 3.3 | |
Ending balance | 0.7 | 1.6 |
Debt Securities, Available-for-Sale, Allowance for Credit Loss, Not to Sell before Recovery, Credit Loss, Previously Recorded, Expense (Reversal) | $ 2.6 | $ 0 |
Investment Securities - Credit
Investment Securities - Credit Quality Indicators (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | $ 3,376.9 | $ 3,453.7 |
AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 3,207.1 | 3,260.7 |
AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 92.7 | 92.8 |
A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 11.5 | 11.5 |
BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 52.1 | 65.1 |
Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 13.5 | 13.6 |
BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 10 |
U.S. Treasury notes | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 397.2 | 396.6 |
U.S. Treasury notes | AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 397.2 | 396.6 |
U.S. Treasury notes | AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. Treasury notes | A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. Treasury notes | BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. Treasury notes | Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. Treasury notes | BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
State, county, and municipal securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 180.9 | 181.2 |
State, county, and municipal securities | AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 68.2 | 68.3 |
State, county, and municipal securities | AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 92.7 | 92.8 |
State, county, and municipal securities | A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 11.5 | 11.5 |
State, county, and municipal securities | BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
State, county, and municipal securities | Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 8.5 | 8.6 |
State, county, and municipal securities | BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Obligations of U.S. government agencies | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 352.3 | 351.7 |
Obligations of U.S. government agencies | AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 352.3 | 351.7 |
Obligations of U.S. government agencies | AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Obligations of U.S. government agencies | A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Obligations of U.S. government agencies | BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Obligations of U.S. government agencies | Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Obligations of U.S. government agencies | BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Corporate securities | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 57.1 | 80.1 |
Corporate securities | AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Corporate securities | AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Corporate securities | A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
Corporate securities | BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 52.1 | 65.1 |
Corporate securities | Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 5 | 5 |
Corporate securities | BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 10 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 2,389.4 | 2,444.1 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 2,183.2 | 2,233.6 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 2,183.2 | 2,233.6 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | FNMA/FHLMC | BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 206.2 | 210.5 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | AAA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 206.2 | 210.5 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | AA | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | A | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | BBB | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | Not Rated | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | 0 | 0 |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | GNMA | BB Rating | ||
Schedule of Held-to-maturity Securities [Line Items] | ||
Investment securities classified as held to maturity | $ 0 | $ 0 |
Investment Securities - Maturit
Investment Securities - Maturities of Investment Securities (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Available-for-Sale, Amortized Cost | ||
Available-for-Sale Amortized Cost, Within One Year | $ 0.5 | |
Available-for-Sale Amortized Cost, After One Year but Within Five Years | 786.6 | |
Available-for-Sale Amortized Cost, After Five Years but Within Ten Years | 1,686.5 | |
Available-for-Sale Amortized Cost, After Ten Years | 4,111.2 | |
Amortized Cost | 6,584.8 | |
Available-for-Sale, Estimated Fair Value | ||
Available-for-Sale Estimated Fair Value, Within One Year | 0.5 | |
Available-for-Sale Estimated Fair Value, After One Year but Within Five Years | 746.1 | |
Available-for-Sale Estimated Fair Value, After Five Years but Within Ten Years | 1,524.1 | |
Available-for-Sale Estimated Fair Value, After Ten Years | 3,778.6 | |
Estimated Fair Value | 6,049.3 | $ 6,946.1 |
Held-to-Maturity, Amortized Cost | ||
Held-to-Maturity Amortized Cost, Within One Year | 307.2 | |
Held-to-Maturity Amortized Cost, After One Year but Within Five Years | 301.1 | |
Held-to-Maturity Amortized Cost, After Five Years but Within Ten Years | 704.1 | |
Held-to-Maturity Amortized Cost, After Ten Years | 2,064.5 | |
Amortized Cost | 3,376.9 | 3,453.7 |
Held-to-Maturity, Estimated Fair Value | ||
Held-to-Maturity Estimated Fair Value, Within One Year | 300.4 | |
Held-to-Maturity Estimated Fair Value, After One Year but Within Five Years | 287.2 | |
Held-to-Maturity Estimated Fair Value, After Five Years but Within Ten Years | 624.4 | |
Held-to-Maturity Estimated Fair Value, After Ten Years | 1,813.8 | |
Investment debt securities held-to-maturity | 3,025.8 | 3,052.2 |
Securities Sold under Agreements to Repurchase [Abstract] | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 3,607.3 | 4,998.9 |
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | $ 3,228.5 | $ 4,432 |
Loans Held for Sale - By Segmen
Loans Held for Sale - By Segment (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Debt Securities, Available-for-sale [Line Items] | |||
Loans held for sale | $ 80.9 | $ 79.9 | |
Transfer of loans to held-for-sale | 3.1 | $ 0 | |
Transfer of loans from held-for-sale to held for investment | 0 | $ 19.8 | |
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 80.9 | 79.9 | |
Agricultural | |||
Debt Securities, Available-for-sale [Line Items] | |||
Loans held for sale | 62.9 | ||
Transfer of loans to held-for-sale | 0 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | 2.2 | ||
Proceeds from Collection of Loans Held-for-sale | (1.8) | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 62.5 | ||
Commercial construction | |||
Debt Securities, Available-for-sale [Line Items] | |||
Loans held for sale | 6.4 | ||
Transfer of loans to held-for-sale | 0 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | (4.1) | ||
Proceeds from Collection of Loans Held-for-sale | 0 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 10.5 | ||
Agricultural | |||
Debt Securities, Available-for-sale [Line Items] | |||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | 2.2 | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 62.9 | ||
Loans held for sale | 7.5 | ||
Unpaid Principle Balance of Loans Held for Sale | 7.5 | ||
Agricultural | Equal to or Greater than 90 Days Past Due | |||
Debt Securities, Available-for-sale [Line Items] | |||
Unpaid Principle Balance of Loans Held for Sale | 5.6 | ||
Agricultural | Lower of Cost or Market | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 55.4 | ||
Commercial construction | |||
Debt Securities, Available-for-sale [Line Items] | |||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | (4.1) | ||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 6.4 | ||
Residential | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $ 8.5 | $ 6.9 |
Non-Residential Loans Held for
Non-Residential Loans Held for Sale (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $ 80.9 | $ 79.9 | |
Transfer of loans to held-for-sale | 3.1 | $ 0 | |
Loans held for sale | 80.9 | 79.9 | |
Agricultural | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 62.5 | ||
Proceeds from Collection of Loans Held-for-sale | (1.8) | ||
Transfer of loans to held-for-sale | 0 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | 2.2 | ||
Loans held for sale | 62.9 | ||
Commercial construction | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 10.5 | ||
Proceeds from Collection of Loans Held-for-sale | 0 | ||
Transfer of loans to held-for-sale | 0 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | (4.1) | ||
Loans held for sale | 6.4 | ||
Land acquisition & development | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | $ 0 | ||
Proceeds from Collection of Loans Held-for-sale | 0 | ||
Transfer of loans to held-for-sale | 3.1 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | 0 | ||
Loans held for sale | 3.1 | ||
Agricultural | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 62.9 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | 2.2 | ||
Commercial construction | |||
Debt Securities, Available-for-sale [Line Items] | |||
Financing Receivable, Held-for-Sale, Not Part of Disposal Group, after Valuation Allowance | 6.4 | ||
Increase (Decrease) in Fair Value Adjustments on Other Assets (Liabilities) Carried at Fair Value under Fair Value Option | $ (4.1) |
Loans Held for Sale - Narrative
Loans Held for Sale - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Debt Securities, Available-for-sale [Line Items] | |||
Nonaccrual loans | $ 37.5 | $ 39.8 | |
Transfer of loans from held-for-sale to held for investment | 0 | $ 19.8 | |
Commercial | |||
Debt Securities, Available-for-sale [Line Items] | |||
Nonaccrual loans | 12.8 | 10.2 | |
Agricultural | |||
Debt Securities, Available-for-sale [Line Items] | |||
Nonaccrual loans | 28 | 29.3 | |
Commercial Loan [Member] | |||
Debt Securities, Available-for-sale [Line Items] | |||
Nonaccrual loans | 3.1 | ||
Commercial construction | |||
Debt Securities, Available-for-sale [Line Items] | |||
Nonaccrual loans | $ 6.4 | $ 10.5 |
Loans Held for Investment - Sch
Loans Held for Investment - Schedule of Loans by Segment (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Deferred loan fees and costs | $ (14.6) | $ (15.6) | ||
Loans held for investment, net of deferred fees and costs | 18,245.7 | 18,099.2 | ||
Allowance for credit losses | (226.1) | (220.1) | $ (247.2) | $ (122.3) |
Net loans held for investment | 18,019.6 | 17,879.1 | ||
Nonaccrual loans | 37.5 | 39.8 | ||
Commercial real estate | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (78.6) | (74.6) | (125) | (43.9) |
Financing Receivable, Loan in Process | 12 | 7.5 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 8,680.8 | 8,528.6 | ||
Nonaccrual loans | 28.2 | 19.6 | ||
Commercial real estate | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 10.2 | 5.6 | ||
Commercial real estate | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1.6 | 0.8 | ||
Commercial real estate | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.2 | 1.1 | ||
Commercial real estate | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 8,640.6 | 8,501.5 | ||
Land acquisition & development | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (1.6) | (1.3) | (0.5) | (0.5) |
Financing Receivable, Loan in Process | 3.5 | 2.4 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 368.5 | 386.2 | ||
Nonaccrual loans | 0.5 | 3.7 | ||
Land acquisition & development | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 3.2 | 1.8 | ||
Land acquisition & development | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.1 | 0 | ||
Land acquisition & development | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.2 | 0.6 | ||
Land acquisition & development | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 364.5 | 380.1 | ||
Residential | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (3.7) | (3.6) | (3.3) | (2.4) |
Financing Receivable, Loan in Process | 0.4 | 1.1 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 471.4 | 516.2 | ||
Nonaccrual loans | 0.5 | 0 | ||
Residential | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.4 | 1.1 | ||
Residential | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Residential | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Residential | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 470.5 | 515.1 | ||
Commercial | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (37.1) | (31.2) | (10.2) | (6) |
Financing Receivable, Loan in Process | 0.6 | 8.1 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 1,053.1 | 1,042 | ||
Nonaccrual loans | 17.8 | 0 | ||
Commercial | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.6 | 7.5 | ||
Commercial | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0.6 | ||
Commercial | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Commercial | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1,034.7 | 1,033.9 | ||
Total construction loans | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 4.5 | 11.6 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 1,893 | 1,944.4 | ||
Nonaccrual loans | 18.8 | 3.7 | ||
Total construction loans | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 4.2 | 10.4 | ||
Total construction loans | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.1 | 0.6 | ||
Total construction loans | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.2 | 0.6 | ||
Total construction loans | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1,869.7 | 1,929.1 | ||
Residential | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (21.7) | (22.1) | (20.1) | (14.6) |
Financing Receivable, Loan in Process | 7 | 13.2 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 2,191.1 | 2,188.3 | ||
Nonaccrual loans | 7 | 6.4 | ||
Residential | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 6.1 | 9.9 | ||
Residential | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.5 | 2.1 | ||
Residential | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.4 | 1.2 | ||
Residential | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 2,177.1 | 2,168.7 | ||
Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (4.8) | (5.9) | (10.5) | (1.9) |
Financing Receivable, Loan in Process | 7.5 | 7.2 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 769.7 | 794.9 | ||
Nonaccrual loans | 5.9 | 7.6 | ||
Agricultural | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 7.2 | 1.1 | ||
Agricultural | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 6.1 | ||
Agricultural | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.3 | 0 | ||
Agricultural | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 756.3 | 780.1 | ||
Total real estate loans | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (147.5) | (138.7) | (169.6) | (69.3) |
Financing Receivable, Loan in Process | 31 | 39.5 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 13,534.6 | 13,456.2 | ||
Nonaccrual loans | 59.9 | 37.3 | ||
Total real estate loans | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 27.7 | 27 | ||
Total real estate loans | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 2.2 | 9.6 | ||
Total real estate loans | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1.1 | 2.9 | ||
Total real estate loans | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 13,443.7 | 13,379.4 | ||
Indirect consumer | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (14.8) | (15.3) | (13.5) | (14.3) |
Financing Receivable, Loan in Process | 8.1 | 12.3 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 817.3 | 829.7 | ||
Nonaccrual loans | 2.7 | 2.7 | ||
Indirect consumer | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 6.1 | 9.3 | ||
Indirect consumer | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1.6 | 2.4 | ||
Indirect consumer | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.4 | 0.6 | ||
Indirect consumer | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 806.5 | 814.7 | ||
Direct and advance lines | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (4.5) | (5.2) | (4.6) | (4.6) |
Financing Receivable, Loan in Process | 1.1 | 1.2 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 146.9 | 152.9 | ||
Nonaccrual loans | 0.2 | 0.3 | ||
Direct and advance lines | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.7 | 0.8 | ||
Direct and advance lines | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.3 | 0.3 | ||
Direct and advance lines | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.1 | 0.1 | ||
Direct and advance lines | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 145.6 | 151.4 | ||
Credit card | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (2.5) | (2.8) | (2.3) | (2.2) |
Financing Receivable, Loan in Process | 1.5 | 1.8 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 71.5 | 75.9 | ||
Nonaccrual loans | 0 | 0 | ||
Credit card | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.5 | 0.8 | ||
Credit card | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.4 | 0.4 | ||
Credit card | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.6 | 0.6 | ||
Credit card | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 70 | 74.1 | ||
Total consumer loans | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (21.8) | (23.3) | (20.4) | (21.1) |
Financing Receivable, Loan in Process | 10.7 | 15.3 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 1,035.7 | 1,058.5 | ||
Nonaccrual loans | 2.9 | 3 | ||
Total consumer loans | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 7.3 | 10.9 | ||
Total consumer loans | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 2.3 | 3.1 | ||
Total consumer loans | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1.1 | 1.3 | ||
Total consumer loans | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1,022.1 | 1,040.2 | ||
Commercial | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (54.4) | (54.9) | (58.2) | (31.6) |
Financing Receivable, Loan in Process | 13.9 | 10.9 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 3,028 | 2,882.6 | ||
Nonaccrual loans | 12.8 | 10.2 | ||
Commercial | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 9.4 | 7.1 | ||
Commercial | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 2.6 | 1.7 | ||
Commercial | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1.9 | 2.1 | ||
Commercial | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 3,001.3 | 2,861.5 | ||
Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Allowance for credit losses | (2.4) | (3.2) | $ 1 | $ (0.3) |
Financing Receivable, Loan in Process | 1.2 | 3.1 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 660.4 | 708.3 | ||
Nonaccrual loans | 5.2 | 8.7 | ||
Agricultural | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.1 | 0.8 | ||
Agricultural | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.7 | 2.2 | ||
Agricultural | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0.4 | 0.1 | ||
Agricultural | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 654 | 696.5 | ||
Other, including overdrafts | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 1.6 | 9.2 | ||
Nonaccrual loans | 0 | 0 | ||
Other, including overdrafts | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Other, including overdrafts | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Other, including overdrafts | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 0 | 0 | ||
Other, including overdrafts | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 1.6 | 9.2 | ||
Loans And Leases Held For Investment [Member] | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 56.8 | 68.8 | ||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 18,260.3 | 18,114.8 | ||
Nonaccrual loans | 80.8 | 59.2 | ||
Loans And Leases Held For Investment [Member] | 30 to 59 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 44.5 | 45.8 | ||
Loans And Leases Held For Investment [Member] | 60 to 89 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 7.8 | 16.6 | ||
Loans And Leases Held For Investment [Member] | Equal to or Greater than 90 Days Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | 4.5 | 6.4 | ||
Loans And Leases Held For Investment [Member] | Financial Asset, Not Past Due | ||||
Loans and Leases Receivable Recorded Investment, Past Due [Line Items] | ||||
Financing Receivable, Loan in Process | $ 18,122.7 | $ 17,986.8 |
Loans Held for Investment - S_2
Loans Held for Investment - Schedule of Allowance for Credit Losses (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | $ 220.1 | $ 122.3 |
Provisional ACL Recorded for PCD loans | 84.3 | |
Provision for credit losses | 15.2 | 61.3 |
Loans Charged-Off(2) | (8.9) | (19.9) |
Recoveries Collected | 2.7 | 3.2 |
Ending balance | 226.1 | 247.2 |
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 12.2 | 57.3 |
Non-owner occupied | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 27.2 | 17.3 |
Provisional ACL Recorded for PCD loans | 24.1 | |
Provision for credit losses | 1.3 | 6.7 |
Loans Charged-Off(2) | (2.5) | (2.9) |
Recoveries Collected | 0 | 0 |
Ending balance | 26 | 45.2 |
Owner occupied | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 19.5 | 13.3 |
Provisional ACL Recorded for PCD loans | 9.5 | |
Provision for credit losses | (0.2) | 4.6 |
Loans Charged-Off(2) | (1.8) | (2.2) |
Recoveries Collected | 0.1 | 0 |
Ending balance | 17.6 | 25.2 |
Multi-family | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 27.9 | 13.3 |
Provisional ACL Recorded for PCD loans | 29.9 | |
Provision for credit losses | 7.1 | 11.4 |
Loans Charged-Off(2) | 0 | 0 |
Recoveries Collected | 0 | 0 |
Ending balance | 35 | 54.6 |
Commercial real estate | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 74.6 | 43.9 |
Provisional ACL Recorded for PCD loans | 63.5 | |
Provision for credit losses | 8.2 | 22.7 |
Loans Charged-Off(2) | (4.3) | (5.1) |
Recoveries Collected | 0.1 | 0 |
Ending balance | 78.6 | 125 |
Agricultural | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 3.2 | 0.3 |
Provisional ACL Recorded for PCD loans | 3.4 | |
Provision for credit losses | (1.1) | (0.5) |
Loans Charged-Off(2) | 0 | (5.3) |
Recoveries Collected | 0.3 | 1.1 |
Ending balance | 2.4 | (1) |
Commercial and floor plans | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 49 | 27.1 |
Provisional ACL Recorded for PCD loans | 11.2 | |
Provision for credit losses | (0.8) | 18.4 |
Loans Charged-Off(2) | (0.6) | (4.2) |
Recoveries Collected | 0.9 | 0.4 |
Ending balance | 48.5 | 52.9 |
Commercial purpose secured by 1-4 family | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 5.7 | 4.4 |
Provisional ACL Recorded for PCD loans | 0.2 | |
Provision for credit losses | (0.2) | 0.4 |
Loans Charged-Off(2) | 0 | 0 |
Recoveries Collected | 0.1 | 0 |
Ending balance | 5.6 | 5 |
Land acquisition & development | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 1.3 | 0.5 |
Provisional ACL Recorded for PCD loans | 3.4 | |
Provision for credit losses | 0.3 | (0.8) |
Loans Charged-Off(2) | 0 | (2.7) |
Recoveries Collected | 0 | 0.1 |
Ending balance | 1.6 | 0.5 |
Residential construction | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 3.6 | 2.4 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0.1 | 0.9 |
Loans Charged-Off(2) | 0 | 0 |
Recoveries Collected | 0 | 0 |
Ending balance | 3.7 | 3.3 |
Commercial construction | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 31.2 | 6 |
Provisional ACL Recorded for PCD loans | 0.2 | |
Provision for credit losses | 5.9 | 4 |
Loans Charged-Off(2) | 0 | 0 |
Recoveries Collected | 0 | 0 |
Ending balance | 37.1 | 10.2 |
Total construction | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 36.1 | 8.9 |
Provisional ACL Recorded for PCD loans | 3.6 | |
Provision for credit losses | 6.3 | 4.1 |
Loans Charged-Off(2) | 0 | (2.7) |
Recoveries Collected | 0 | 0.1 |
Ending balance | 42.4 | 14 |
Residential 1-4 family | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 20.5 | 13.4 |
Provisional ACL Recorded for PCD loans | 0.1 | |
Provision for credit losses | (0.2) | 5.2 |
Loans Charged-Off(2) | (0.1) | (0.1) |
Recoveries Collected | 0 | 0.1 |
Ending balance | 20.2 | 18.7 |
Home equity and HELOC | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 1.6 | 1.2 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0.3 | 0.1 |
Loans Charged-Off(2) | (0.4) | 0 |
Recoveries Collected | 0 | 0.1 |
Ending balance | 1.5 | 1.4 |
Residential | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 22.1 | 14.6 |
Provisional ACL Recorded for PCD loans | 0.1 | |
Provision for credit losses | 0.1 | 5.3 |
Loans Charged-Off(2) | (0.5) | (0.1) |
Recoveries Collected | 0 | 0.2 |
Ending balance | 21.7 | 20.1 |
Agricultural | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 5.9 | 1.9 |
Provisional ACL Recorded for PCD loans | 2.3 | |
Provision for credit losses | (1.2) | 6.4 |
Loans Charged-Off(2) | 0 | (0.1) |
Recoveries Collected | 0.1 | 0 |
Ending balance | 4.8 | 10.5 |
Total real estate loans | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 138.7 | 69.3 |
Provisional ACL Recorded for PCD loans | 69.5 | |
Provision for credit losses | 13.4 | 38.5 |
Loans Charged-Off(2) | (4.8) | (8) |
Recoveries Collected | 0.2 | 0.3 |
Ending balance | 147.5 | 169.6 |
Indirect consumer | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 15.3 | 14.3 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0.6 | (0.3) |
Loans Charged-Off(2) | (1.8) | (0.9) |
Recoveries Collected | 0.7 | 0.4 |
Ending balance | 14.8 | 13.5 |
Direct and advance lines | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 5.2 | 4.6 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0.1 | (0.1) |
Loans Charged-Off(2) | (1.1) | (0.8) |
Recoveries Collected | 0.3 | 0.9 |
Ending balance | 4.5 | 4.6 |
Credit card | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 2.8 | 2.2 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0 | 0.6 |
Loans Charged-Off(2) | (0.5) | (0.6) |
Recoveries Collected | 0.2 | 0.1 |
Ending balance | 2.5 | 2.3 |
Total consumer loans | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 23.3 | 21.1 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0.7 | 0.2 |
Loans Charged-Off(2) | (3.4) | (2.3) |
Recoveries Collected | 1.2 | 1.4 |
Ending balance | 21.8 | 20.4 |
Credit card | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 0.2 | 0.1 |
Provisional ACL Recorded for PCD loans | 0 | |
Provision for credit losses | 0.2 | 0.3 |
Loans Charged-Off(2) | (0.1) | (0.1) |
Recoveries Collected | 0 | 0 |
Ending balance | 0.3 | 0.3 |
Commercial | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Beginning balance | 54.9 | 31.6 |
Provisional ACL Recorded for PCD loans | 11.4 | |
Provision for credit losses | (0.8) | 19.1 |
Loans Charged-Off(2) | (0.7) | (4.3) |
Recoveries Collected | 1 | 0.4 |
Ending balance | 54.4 | 58.2 |
Agriculture Portfolio Segment [Member] | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Provisional ACL Recorded for PCD loans | $ 3.4 | |
Consumer Home Equity and HELOC | ||
Financing Receivable, Allowance for Credit Loss [Roll Forward] | ||
Loans Charged-Off(2) | $ (0.4) |
Loans Held for Investment - S_3
Loans Held for Investment - Schedule of Allowance for Credit Losses for Loans Held for Investment (Details) | 3 Months Ended | |||
Mar. 13, 2023 USD ($) | Mar. 31, 2023 USD ($) Investments | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) Investments | |
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | $ 220,100,000 | $ 122,300,000 | ||
Provision charged to operating expense | 15,200,000 | 61,300,000 | ||
Loans Charged-Off(2) | (8,900,000) | (19,900,000) | ||
Ending balance | 226,100,000 | 247,200,000 | ||
Provisional ACL Recorded for PCD loans | 84,300,000 | |||
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 12,200,000 | 57,300,000 | ||
Financing Receivable, Allowance for Credit Loss, Recovery | 2,700,000 | 3,200,000 | ||
Interest Receivable | 113,700,000 | $ 118,300,000 | ||
Debt Securities, Available-for-sale, Realized Loss | $ (23,400,000) | 0 | ||
Debt Securities, Held-To-Maturity, After Allowance For Credit Loss, Transfer, Amount | $ 13,200,000 | |||
Allowance for Credit Losses | 800,000 | $ 0 | ||
Investment securities in an unrealized loss position (securities) | Investments | 1,023 | 1,222 | ||
Debt Securities, Available-for-sale, Realized Gain | $ 0 | 0 | ||
Securities Sold under Agreements to Repurchase, Fair Value of Collateral | 3,607,300,000 | $ 4,998,900,000 | ||
Securities Loaned or Sold under Agreements to Repurchase, Fair Value Disclosure | 3,228,500,000 | 4,432,000,000 | ||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Transfer, Amount | $ 23,000,000 | |||
Callable Within One Year | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Amortized cost of investment securities callable after one year but within five years | 1,525,900,000 | |||
Fair value of investment securities callable after one year but within five years | 1,446,900,000 | |||
Callable structured notes amortized costs | 0 | |||
Debt Securities | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Interest Receivable | 35,600,000 | $ 38,900,000 | ||
Commercial Real Estate Non Owner Occupied Loans [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 27,200,000 | 17,300,000 | ||
Provision charged to operating expense | 1,300,000 | 6,700,000 | ||
Loans Charged-Off(2) | (2,500,000) | (2,900,000) | ||
Ending balance | 26,000,000 | 45,200,000 | ||
Provisional ACL Recorded for PCD loans | 24,100,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | ||
Agricultural Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 3,200,000 | 300,000 | ||
Provision charged to operating expense | (1,100,000) | (500,000) | ||
Loans Charged-Off(2) | 0 | (5,300,000) | ||
Ending balance | 2,400,000 | (1,000,000) | ||
Provisional ACL Recorded for PCD loans | 3,400,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 300,000 | 1,100,000 | ||
Commercial and Floor Plans [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 49,000,000 | 27,100,000 | ||
Provision charged to operating expense | (800,000) | 18,400,000 | ||
Loans Charged-Off(2) | (600,000) | (4,200,000) | ||
Ending balance | 48,500,000 | 52,900,000 | ||
Provisional ACL Recorded for PCD loans | 11,200,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 900,000 | 400,000 | ||
Commercial Real Estate Owner Occupied [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 19,500,000 | 13,300,000 | ||
Provision charged to operating expense | (200,000) | 4,600,000 | ||
Loans Charged-Off(2) | (1,800,000) | (2,200,000) | ||
Ending balance | 17,600,000 | 25,200,000 | ||
Provisional ACL Recorded for PCD loans | 9,500,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 100,000 | 0 | ||
Commercial Real Estate Multi-family [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 27,900,000 | 13,300,000 | ||
Provision charged to operating expense | 7,100,000 | 11,400,000 | ||
Loans Charged-Off(2) | 0 | 0 | ||
Ending balance | 35,000,000 | 54,600,000 | ||
Provisional ACL Recorded for PCD loans | 29,900,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | ||
Commercial real estate | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 74,600,000 | 43,900,000 | ||
Provision charged to operating expense | 8,200,000 | 22,700,000 | ||
Loans Charged-Off(2) | (4,300,000) | (5,100,000) | ||
Ending balance | 78,600,000 | 125,000,000 | ||
Provisional ACL Recorded for PCD loans | 63,500,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 100,000 | 0 | ||
Land Acquisition And Development Construction Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1,300,000 | 500,000 | ||
Provision charged to operating expense | 300,000 | (800,000) | ||
Loans Charged-Off(2) | 0 | (2,700,000) | ||
Ending balance | 1,600,000 | 500,000 | ||
Provisional ACL Recorded for PCD loans | 3,400,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 100,000 | ||
Residential construction | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 3,600,000 | 2,400,000 | ||
Provision charged to operating expense | 100,000 | 900,000 | ||
Loans Charged-Off(2) | 0 | 0 | ||
Ending balance | 3,700,000 | 3,300,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | ||
Commercial construction | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 31,200,000 | 6,000,000 | ||
Provision charged to operating expense | 5,900,000 | 4,000,000 | ||
Loans Charged-Off(2) | 0 | 0 | ||
Ending balance | 37,100,000 | 10,200,000 | ||
Provisional ACL Recorded for PCD loans | 200,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | ||
Construction Loans [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 36,100,000 | 8,900,000 | ||
Provision charged to operating expense | 6,300,000 | 4,100,000 | ||
Loans Charged-Off(2) | 0 | (2,700,000) | ||
Ending balance | 42,400,000 | 14,000,000 | ||
Provisional ACL Recorded for PCD loans | 3,600,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 100,000 | ||
Residential Real Estate 1-4 Family [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 20,500,000 | 13,400,000 | ||
Provision charged to operating expense | (200,000) | 5,200,000 | ||
Loans Charged-Off(2) | (100,000) | (100,000) | ||
Ending balance | 20,200,000 | 18,700,000 | ||
Provisional ACL Recorded for PCD loans | 100,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 100,000 | ||
Home Equity Line of Credit [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 1,600,000 | 1,200,000 | ||
Provision charged to operating expense | 300,000 | 100,000 | ||
Loans Charged-Off(2) | (400,000) | 0 | ||
Ending balance | 1,500,000 | 1,400,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 100,000 | ||
Residential Real Estate [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 22,100,000 | 14,600,000 | ||
Provision charged to operating expense | 100,000 | 5,300,000 | ||
Loans Charged-Off(2) | (500,000) | (100,000) | ||
Ending balance | 21,700,000 | 20,100,000 | ||
Provisional ACL Recorded for PCD loans | 100,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 200,000 | ||
Agricultural Real Estate Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 5,900,000 | 1,900,000 | ||
Provision charged to operating expense | (1,200,000) | 6,400,000 | ||
Loans Charged-Off(2) | 0 | (100,000) | ||
Ending balance | 4,800,000 | 10,500,000 | ||
Provisional ACL Recorded for PCD loans | 2,300,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 100,000 | 0 | ||
Real Estate Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 138,700,000 | 69,300,000 | ||
Provision charged to operating expense | 13,400,000 | 38,500,000 | ||
Loans Charged-Off(2) | (4,800,000) | (8,000,000) | ||
Ending balance | 147,500,000 | 169,600,000 | ||
Provisional ACL Recorded for PCD loans | 69,500,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 200,000 | 300,000 | ||
Consumer Indirect Financing Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 15,300,000 | 14,300,000 | ||
Provision charged to operating expense | 600,000 | (300,000) | ||
Loans Charged-Off(2) | (1,800,000) | (900,000) | ||
Ending balance | 14,800,000 | 13,500,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 700,000 | 400,000 | ||
Direct consumer | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 5,200,000 | 4,600,000 | ||
Provision charged to operating expense | 100,000 | (100,000) | ||
Loans Charged-Off(2) | (1,100,000) | (800,000) | ||
Ending balance | 4,500,000 | 4,600,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 300,000 | 900,000 | ||
Credit Card Receivable [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 2,800,000 | 2,200,000 | ||
Provision charged to operating expense | 0 | 600,000 | ||
Loans Charged-Off(2) | (500,000) | (600,000) | ||
Ending balance | 2,500,000 | 2,300,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 200,000 | 100,000 | ||
Consumer | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 23,300,000 | 21,100,000 | ||
Provision charged to operating expense | 700,000 | 200,000 | ||
Loans Charged-Off(2) | (3,400,000) | (2,300,000) | ||
Ending balance | 21,800,000 | 20,400,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 1,200,000 | 1,400,000 | ||
Commercial Purpose secured by 1-4 Family [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 5,700,000 | 4,400,000 | ||
Provision charged to operating expense | (200,000) | 400,000 | ||
Loans Charged-Off(2) | 0 | 0 | ||
Ending balance | 5,600,000 | 5,000,000 | ||
Provisional ACL Recorded for PCD loans | 200,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 100,000 | 0 | ||
Commercial Borrower [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 200,000 | 100,000 | ||
Provision charged to operating expense | 200,000 | 300,000 | ||
Loans Charged-Off(2) | (100,000) | (100,000) | ||
Ending balance | 300,000 | 300,000 | ||
Provisional ACL Recorded for PCD loans | 0 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | 0 | 0 | ||
Commercial Portfolio Segment [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Beginning balance | 54,900,000 | 31,600,000 | ||
Provision charged to operating expense | (800,000) | 19,100,000 | ||
Loans Charged-Off(2) | (700,000) | (4,300,000) | ||
Ending balance | 54,400,000 | 58,200,000 | ||
Provisional ACL Recorded for PCD loans | 11,400,000 | |||
Financing Receivable, Allowance for Credit Loss, Recovery | $ 1,000,000 | 400,000 | ||
Agriculture Portfolio Segment [Member] | ||||
Accounts Receivable, Allowance for Credit Loss [Roll Forward] | ||||
Provisional ACL Recorded for PCD loans | $ 3,400,000 |
Loans Held for Investment - S_4
Loans Held for Investment - Schedule of Contractual Aging of Loans by Portfolio (Details) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Nonaccrual loans | $ 37,500,000 | $ 39,800,000 | |
Financing Receivable, Nonaccrual, Interest Income | 0 | 0 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | $ 0 | |
Accrued interest reversal | 300,000 | 1,000,000 | |
Less loans charged-off | 8,900,000 | 19,900,000 | |
Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 12,000,000 | 7,500,000 | |
Nonaccrual loans | 28,200,000 | 19,600,000 | |
Less loans charged-off | 4,300,000 | 5,100,000 | |
Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3,500,000 | 2,400,000 | |
Nonaccrual loans | 500,000 | 3,700,000 | |
Less loans charged-off | 0 | 2,700,000 | |
Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 400,000 | 1,100,000 | |
Nonaccrual loans | 500,000 | 0 | |
Less loans charged-off | 0 | 0 | |
Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 600,000 | 8,100,000 | |
Nonaccrual loans | 17,800,000 | 0 | |
Less loans charged-off | 0 | 0 | |
Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 4,500,000 | 11,600,000 | |
Nonaccrual loans | 18,800,000 | 3,700,000 | |
Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 7,000,000 | 13,200,000 | |
Nonaccrual loans | 7,000,000 | 6,400,000 | |
Less loans charged-off | 500,000 | 100,000 | |
Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 7,500,000 | 7,200,000 | |
Nonaccrual loans | 5,900,000 | 7,600,000 | |
Less loans charged-off | 0 | 100,000 | |
Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 31,000,000 | 39,500,000 | |
Nonaccrual loans | 59,900,000 | 37,300,000 | |
Less loans charged-off | 4,800,000 | 8,000,000 | |
Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 8,100,000 | 12,300,000 | |
Nonaccrual loans | 2,700,000 | 2,700,000 | |
Less loans charged-off | 1,800,000 | 900,000 | |
Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,100,000 | 1,200,000 | |
Nonaccrual loans | 200,000 | 300,000 | |
Less loans charged-off | 1,100,000 | 800,000 | |
Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,500,000 | 1,800,000 | |
Nonaccrual loans | 0 | 0 | |
Less loans charged-off | 500,000 | 600,000 | |
Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 10,700,000 | 15,300,000 | |
Nonaccrual loans | 2,900,000 | 3,000,000 | |
Less loans charged-off | 3,400,000 | 2,300,000 | |
Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 13,900,000 | 10,900,000 | |
Nonaccrual loans | 12,800,000 | 10,200,000 | |
Less loans charged-off | 700,000 | 4,300,000 | |
Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,200,000 | 3,100,000 | |
Nonaccrual loans | 5,200,000 | 8,700,000 | |
Less loans charged-off | 0 | 5,300,000 | |
Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Nonaccrual loans | 0 | 0 | |
Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 56,800,000 | 68,800,000 | |
Nonaccrual loans | 80,800,000 | 59,200,000 | |
Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 2,500,000 | 2,900,000 | |
Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 1,800,000 | 2,200,000 | |
Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | 0 | |
Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 600,000 | 4,200,000 | |
Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | $ 0 | |
30 to 59 Days Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 10,200,000 | 5,600,000 | |
30 to 59 Days Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3,200,000 | 1,800,000 | |
30 to 59 Days Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 400,000 | 1,100,000 | |
30 to 59 Days Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 600,000 | 7,500,000 | |
30 to 59 Days Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 4,200,000 | 10,400,000 | |
30 to 59 Days Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 6,100,000 | 9,900,000 | |
30 to 59 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 7,200,000 | 1,100,000 | |
30 to 59 Days Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 27,700,000 | 27,000,000 | |
30 to 59 Days Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 6,100,000 | 9,300,000 | |
30 to 59 Days Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 700,000 | 800,000 | |
30 to 59 Days Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 500,000 | 800,000 | |
30 to 59 Days Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 7,300,000 | 10,900,000 | |
30 to 59 Days Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 9,400,000 | 7,100,000 | |
30 to 59 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 100,000 | 800,000 | |
30 to 59 Days Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
30 to 59 Days Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 44,500,000 | 45,800,000 | |
60 to 89 Days Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,600,000 | 800,000 | |
60 to 89 Days Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 100,000 | 0 | |
60 to 89 Days Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
60 to 89 Days Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 600,000 | |
60 to 89 Days Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 100,000 | 600,000 | |
60 to 89 Days Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 500,000 | 2,100,000 | |
60 to 89 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 6,100,000 | |
60 to 89 Days Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2,200,000 | 9,600,000 | |
60 to 89 Days Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,600,000 | 2,400,000 | |
60 to 89 Days Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 300,000 | 300,000 | |
60 to 89 Days Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 400,000 | 400,000 | |
60 to 89 Days Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2,300,000 | 3,100,000 | |
60 to 89 Days Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2,600,000 | 1,700,000 | |
60 to 89 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 700,000 | 2,200,000 | |
60 to 89 Days Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
60 to 89 Days Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 7,800,000 | 16,600,000 | |
Equal to or Greater than 90 Days Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 200,000 | 1,100,000 | |
Equal to or Greater than 90 Days Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 200,000 | 600,000 | |
Equal to or Greater than 90 Days Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Equal to or Greater than 90 Days Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Equal to or Greater than 90 Days Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 200,000 | 600,000 | |
Equal to or Greater than 90 Days Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 400,000 | 1,200,000 | |
Equal to or Greater than 90 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 300,000 | 0 | |
Equal to or Greater than 90 Days Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,100,000 | 2,900,000 | |
Equal to or Greater than 90 Days Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 400,000 | 600,000 | |
Equal to or Greater than 90 Days Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 100,000 | 100,000 | |
Equal to or Greater than 90 Days Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 600,000 | 600,000 | |
Equal to or Greater than 90 Days Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,100,000 | 1,300,000 | |
Equal to or Greater than 90 Days Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,900,000 | 2,100,000 | |
Equal to or Greater than 90 Days Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 400,000 | 100,000 | |
Equal to or Greater than 90 Days Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 0 | 0 | |
Equal to or Greater than 90 Days Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 4,500,000 | 6,400,000 | |
Financial Asset, Not Past Due | Commercial real estate | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 8,640,600,000 | 8,501,500,000 | |
Financial Asset, Not Past Due | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 364,500,000 | 380,100,000 | |
Financial Asset, Not Past Due | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 470,500,000 | 515,100,000 | |
Financial Asset, Not Past Due | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,034,700,000 | 1,033,900,000 | |
Financial Asset, Not Past Due | Total construction loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,869,700,000 | 1,929,100,000 | |
Financial Asset, Not Past Due | Residential | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 2,177,100,000 | 2,168,700,000 | |
Financial Asset, Not Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 756,300,000 | 780,100,000 | |
Financial Asset, Not Past Due | Total real estate loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 13,443,700,000 | 13,379,400,000 | |
Financial Asset, Not Past Due | Indirect consumer | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 806,500,000 | 814,700,000 | |
Financial Asset, Not Past Due | Direct and advance lines | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 145,600,000 | 151,400,000 | |
Financial Asset, Not Past Due | Credit card | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 70,000,000 | 74,100,000 | |
Financial Asset, Not Past Due | Total consumer loans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,022,100,000 | 1,040,200,000 | |
Financial Asset, Not Past Due | Commercial | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 3,001,300,000 | 2,861,500,000 | |
Financial Asset, Not Past Due | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 654,000,000 | 696,500,000 | |
Financial Asset, Not Past Due | Other, including overdrafts | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 1,600,000 | 9,200,000 | |
Financial Asset, Not Past Due | Loans And Leases Held For Investment [Member] | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Financing Receivable, Loan in Process | 18,122,700,000 | $ 17,986,800,000 | |
Year One, Originated, Current Fiscal Year | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year One, Originated, Current Fiscal Year | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 100,000 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 100,000 | ||
Year Two, Originated, Fiscal Year Before Current Fiscal Year | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 1,700,000 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 100,000 | ||
Year Three, Originated, Two Years before Current Fiscal Year | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 2,200,000 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 100,000 | ||
Year Four, Originated, Three Years before Current Fiscal Year | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 100,000 | ||
Year Five, Originated, Four Years before Current Fiscal Year | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 300,000 | ||
Originated, More than Five Years before Current Fiscal Year | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Originated, More than Five Years before Current Fiscal Year | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 200,000 | ||
Originated, More than Five Years before Current Fiscal Year | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Land acquisition & development | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Residential construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Commercial construction | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Agricultural | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Non-owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Owner occupied | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Multi-family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Commercial and floor plans | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | 0 | ||
Revolving | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable, Troubled Debt Restructuring [Line Items] | |||
Less loans charged-off | $ 0 |
Loans Held for Investment - S_5
Loans Held for Investment - Schedule of Recorded Investment in Criticized Loans by Class and Credit Quality Indicator (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Commitments to purchase or sell | $ 0 | $ 0 | |
Proceeds from sale of loans held-for-investment | 0 | 0 | |
Less loans charged-off | (8.9) | (19.9) | |
Non-owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 4,473.8 | $ 4,408.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 239.8 | 1,163.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,194.1 | 882 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 809.4 | 674.2 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 614.3 | 490.4 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 470.3 | 261.1 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 1,116.6 | 907.6 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 29.3 | 29.2 | |
Less loans charged-off | (2.5) | (2.9) | |
Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (4.3) | (5.1) | |
Land acquisition & development | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 368.5 | 386.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 36 | 159.2 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 152.2 | 117.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 93.4 | 29.7 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 33.9 | 17 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 13.7 | 11.1 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 29.9 | 29.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 9.4 | 22.2 | |
Less loans charged-off | 0 | (2.7) | |
Residential | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 471.4 | 516.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 13.8 | 118.4 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 107.3 | 120.4 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 92.7 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.4 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.2 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 6.5 | 6.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 250.5 | 270.1 | |
Less loans charged-off | 0 | 0 | |
Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1,053.1 | 1,042 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 60.2 | 461.8 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 452.6 | 399.2 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 395.3 | 112.8 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 100.7 | 45.9 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 8.2 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 36.1 | 21.9 | |
Less loans charged-off | 0 | 0 | |
Total construction | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | (2.7) | |
Residential | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.5) | (0.1) | |
Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 769.7 | 794.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 22.6 | 204.2 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 189.2 | 185.8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 172.5 | 115.5 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 109.6 | 68 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 64.2 | 59.3 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 170.4 | 119.6 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 41.2 | 42.5 | |
Less loans charged-off | 0 | (0.1) | |
Total real estate loans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (4.8) | (8) | |
Indirect consumer | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 817.3 | 829.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 63.4 | 381.3 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 353.6 | 177.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 160.3 | 130.6 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 116.9 | 60 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 52.3 | 33.8 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 70.8 | 46.7 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Less loans charged-off | (1.8) | (0.9) | |
Indirect consumer | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Indirect consumer | Year Two, Originated, Fiscal Year Before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.9) | ||
Indirect consumer | Year Three, Originated, Two Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.6) | ||
Indirect consumer | Year Four, Originated, Three Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.2) | ||
Indirect consumer | Year Five, Originated, Four Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Indirect consumer | Originated, More than Five Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | ||
Indirect consumer | Revolving | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Direct consumer | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 146.9 | 152.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 11.2 | 52.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 47.5 | 32 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 28.1 | 18.3 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 15.7 | 8.5 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 7.2 | 6.5 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 13.3 | 9 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 23.9 | 25.9 | |
Less loans charged-off | (1.1) | (0.8) | |
Direct consumer | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Direct consumer | Year Two, Originated, Fiscal Year Before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.2) | ||
Direct consumer | Year Three, Originated, Two Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | ||
Direct consumer | Year Four, Originated, Three Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Direct consumer | Year Five, Originated, Four Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Direct consumer | Originated, More than Five Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.7) | ||
Direct consumer | Revolving | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | ||
Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 178.4 | 178.1 | |
Less loans charged-off | (0.5) | (0.6) | |
Credit card | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.6) | ||
Total consumer loans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (3.4) | (2.3) | |
Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.7) | (4.3) | |
Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 658.5 | 706.4 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 28 | 176.1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 156.5 | 67.6 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 55.7 | 35 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 31.5 | 12.2 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 9.8 | 10.1 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 10.3 | 3.3 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 366.7 | 402.1 | |
Less loans charged-off | 0 | (5.3) | |
Owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 2,991.7 | 3,153.5 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 127.4 | 812.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 760.1 | 737.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 703.8 | 548.5 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 493.3 | 281.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 260.3 | 179.9 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 631.8 | 574 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 15 | 19.8 | |
Less loans charged-off | (1.8) | (2.2) | |
Multi-family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1,215.3 | 966.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 64.2 | 369.2 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 413.6 | 204.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 254.6 | 189 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 234 | 52.1 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 88.5 | 35 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 158.9 | 115.7 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 1.5 | 1 | |
Less loans charged-off | 0 | 0 | |
Commercial and floor plans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 2,374.3 | 2,249.4 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 157.2 | 527.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 484 | 370.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 335 | 219.4 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 200.8 | 132.1 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 115.2 | 124.4 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 303.3 | 178.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 778.8 | 697.4 | |
Less loans charged-off | (0.6) | (4.2) | |
Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 548.7 | 532.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 36 | 192 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 186.3 | 136 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 130.6 | 72 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 67.6 | 30.9 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 29.8 | 32.2 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 70.7 | 40.9 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 27.7 | 28.9 | |
Less loans charged-off | 0 | 0 | |
Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | (0.1) | |
Residential 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1,652.6 | 1,639.4 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 13.3 | 258.9 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 266.1 | 490.5 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 508.5 | 541.7 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 533 | 98.5 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 95.6 | 32.3 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 236.1 | 217.5 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Less loans charged-off | (0.1) | $ (0.1) | |
Residential 1-4 family | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Residential 1-4 family | Year Two, Originated, Fiscal Year Before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Residential 1-4 family | Year Three, Originated, Two Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Residential 1-4 family | Year Four, Originated, Three Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Residential 1-4 family | Year Five, Originated, Four Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Residential 1-4 family | Originated, More than Five Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | ||
Residential 1-4 family | Revolving | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Consumer Home Equity and HELOC | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 538.5 | 548.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 4.8 | 24.4 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 23.5 | 8.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 7.5 | 5.4 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 4.8 | 5.7 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 5.4 | 5.7 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 20 | 16.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 472.5 | 483 | |
Less loans charged-off | (0.4) | ||
Consumer Home Equity and HELOC | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.3) | ||
Consumer Home Equity and HELOC | Year Two, Originated, Fiscal Year Before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Consumer Home Equity and HELOC | Year Three, Originated, Two Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Consumer Home Equity and HELOC | Year Four, Originated, Three Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | ||
Consumer Home Equity and HELOC | Year Five, Originated, Four Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Consumer Home Equity and HELOC | Originated, More than Five Years before Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Consumer Home Equity and HELOC | Revolving | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Pass | Non-owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 4,382.4 | 4,313.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 239.8 | 1,162.6 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1,188.9 | 861.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 790.1 | 661.1 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 604.9 | 467.6 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 435.3 | 241.5 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 1,094.1 | 890.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 29.3 | 29.2 | |
Pass | Land acquisition & development | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 359.1 | 374.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 36 | 152.5 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 145.5 | 114.4 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 93.1 | 29.5 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 33.7 | 17 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 12.1 | 10.9 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 29.3 | 28.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 9.4 | 22.2 | |
Pass | Residential | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 470.5 | 515.3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 13.8 | 118.4 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 107.3 | 119.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 92.2 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.4 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.2 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 6.1 | 5.8 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 250.5 | 270.1 | |
Pass | Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 972.2 | 964.1 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 60.2 | 442.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 432.9 | 374.8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 370.9 | 89.7 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 77.6 | 45.9 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 8.2 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 22.4 | 10.6 | |
Pass | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 693.7 | 710.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 16.4 | 180 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 168.5 | 172.8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 166.7 | 109.5 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 105.2 | 64.8 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 61.9 | 46.6 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 143.6 | 105.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 31.4 | 31.4 | |
Pass | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 575.7 | 616.1 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 24.5 | 127.2 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 109.6 | 59.7 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 53.2 | 31.8 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 28.5 | 10.6 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 8.8 | 8.6 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 9.1 | 3.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 342 | 375.1 | |
Pass | Owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 2,875.7 | 3,047.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 124.7 | 793 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 745.9 | 718.7 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 677.9 | 533.9 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 479.2 | 266.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 245.6 | 165.8 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 591 | 551.3 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 11.4 | 18.2 | |
Pass | Multi-family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1,212.9 | 964.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 64.2 | 369.2 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 413.2 | 204.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 254.6 | 189 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 234 | 52.1 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 88.5 | 35 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 156.9 | 113.7 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 1.5 | 1 | |
Pass | Commercial and floor plans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 2,232.2 | 2,122.3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 152.5 | 501.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 458.7 | 358.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 315.9 | 214.4 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 197.1 | 124.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 109.9 | 120.3 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 297.7 | 171.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 700.4 | 631.6 | |
Pass | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 539.7 | 524.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 35.2 | 191.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 186 | 134.5 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 129.2 | 69.8 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 64.3 | 30.4 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 29.3 | 29.9 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 68 | 39.5 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 27.7 | 28.9 | |
Other Assets Especially Mentioned | Non-owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 27.2 | 22.1 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 6.8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1.3 | 2.3 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 1.4 | 4.6 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 14.1 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 10.4 | 7.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Other Assets Especially Mentioned | Land acquisition & development | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 7.1 | 7.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 6.7 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 6.7 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.1 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.3 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Other Assets Especially Mentioned | Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 41.4 | 36.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 2.3 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 4.6 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 23.1 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 23.1 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 13.7 | 11.3 | |
Other Assets Especially Mentioned | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 29.2 | 51.1 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.1 | 22.4 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.9 | 0.7 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.3 | 1.2 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 1.8 | 2.6 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 1.8 | 10 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 14.6 | 3.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 9.7 | 11 | |
Other Assets Especially Mentioned | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 11.2 | 56.8 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.4 | 26.1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.6 | 2.8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.5 | 1 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.5 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.1 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 8.1 | 26.2 | |
Other Assets Especially Mentioned | Owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 64.5 | 55.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 2 | 10.9 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 4.8 | 14.2 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 14.4 | 12.3 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 13 | 6.1 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 6.1 | 5.6 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 21.2 | 5.5 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 3 | 1.1 | |
Other Assets Especially Mentioned | Multi-family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 2.1 | 1.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.4 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 1.7 | 1.7 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Other Assets Especially Mentioned | Commercial and floor plans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 54.6 | 52.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.6 | 15.9 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 8 | 6.8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 11.8 | 1.3 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 1.3 | 4.4 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 1.2 | 0.9 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 2.7 | 4.9 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 29 | 18.5 | |
Other Assets Especially Mentioned | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 6 | 5.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.6 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.1 | 1.2 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1.1 | 2.1 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 3.2 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.2 | 1.4 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.8 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Substandard | Non-owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 64.2 | 72.4 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 5.2 | 13.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 18 | 10.8 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 8 | 18.2 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 20.9 | 19.6 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 12.1 | 9.8 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Substandard | Land acquisition & development | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 2.3 | 0.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.2 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.2 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 1.6 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.3 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Substandard | Residential | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 0.9 | 0.9 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0.5 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.5 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.4 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Substandard | Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 25.6 | 41.2 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 16.8 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 1.2 | 24.4 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 24.4 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Substandard | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 45.8 | 32.3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 6.1 | 1.8 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 19.8 | 12.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 5.5 | 3.5 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 1.6 | 0.6 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.5 | 2.7 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 12.2 | 11.3 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0.1 | 0.1 | |
Substandard | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 71.6 | 33 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 3.1 | 22.8 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 46.3 | 4.6 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1.5 | 2.8 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 2.5 | 0.6 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.5 | 1.2 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 1.1 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 16.6 | 0.8 | |
Substandard | Owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 49.8 | 48.8 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.7 | 8.4 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 9.1 | 3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 10.1 | 2.3 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 1.1 | 8.9 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 8.6 | 8.5 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 19.6 | 17.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0.6 | 0.5 | |
Substandard | Multi-family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 0.3 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.3 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Substandard | Commercial and floor plans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 81.4 | 72.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 4.1 | 9.8 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 15 | 3.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 6.1 | 3.7 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 2.4 | 3.4 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 4.1 | 3.2 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 2.9 | 2.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 46.8 | 47.2 | |
Substandard | Commercial purpose secured by 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 3 | 3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.2 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.2 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.3 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.1 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.3 | 0.9 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 1.9 | 1.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Doubtful | Land acquisition & development | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 3.2 | ||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3.2 | ||
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | ||
Doubtful | Commercial | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 13.9 | ||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 13.9 | ||
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | ||
Doubtful | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1 | 1.3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 1.3 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 1 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Doubtful | Agricultural | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 0.5 | ||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.5 | ||
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | ||
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | ||
Doubtful | Owner occupied | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1.7 | 1.8 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.3 | 1.4 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1.4 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Doubtful | Commercial and floor plans | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 6.1 | 1.7 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 2.3 | 1.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1.2 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 2.6 | 0.1 | |
Performing | Indirect consumer | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 814.2 | 826.3 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 63.4 | 380.3 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 352.8 | 176.4 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 159.2 | 130 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 116.4 | 59.7 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 52.1 | 33.6 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 70.3 | 46.3 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Performing | Direct consumer | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 146.5 | 152.4 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 11.2 | 52.6 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 47.4 | 31.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 28 | 18.2 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 15.6 | 8.5 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 7.2 | 6.5 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 13.2 | 8.9 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 23.9 | 25.8 | |
Performing | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 177.4 | 177.3 | |
Performing | Residential 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 1,648.2 | 1,634.6 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 13.3 | 258.9 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 266.1 | 490.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 508.2 | 541.6 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 532.9 | 98 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 95.2 | 32 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 232.5 | 213.8 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Performing | Consumer Home Equity and HELOC | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 535.4 | 546.1 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 4.7 | 23.8 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 22.9 | 8 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 7 | 5.2 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 4.6 | 5.5 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 5.2 | 5.6 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 18.7 | 15.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 472.3 | 482.8 | |
Nonperforming | Indirect consumer | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 3.1 | 3.4 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.8 | 0.9 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 1.1 | 0.6 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.5 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.2 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.5 | 0.4 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Nonperforming | Direct consumer | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 0.4 | 0.5 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.1 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.1 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.1 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 0.1 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0.1 | |
Nonperforming | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 1 | 0.8 | |
Nonperforming | Residential 1-4 family | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 4.4 | 4.8 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | 0 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.3 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.1 | 0.5 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.4 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 3.6 | 3.7 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0 | 0 | |
Nonperforming | Consumer Home Equity and HELOC | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Total | 3.1 | 2.8 | |
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.1 | 0.6 | |
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0.6 | 0.3 | |
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year | 0.5 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year | 0.2 | 0.2 | |
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year | 0.2 | 0.1 | |
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year | 1.3 | 1.2 | |
Financing Receivable, Excluding Accrued Interest, Revolving | 0.2 | 0.2 | |
Agriculture Portfolio Segment [Member] | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 1.9 | ||
Agriculture Portfolio Segment [Member] | Performing | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 1.9 | ||
Agriculture Portfolio Segment [Member] | Nonperforming | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0 | ||
Commercial | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 105 | 100.3 | |
Commercial | Credit card | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.1) | ||
Commercial | Performing | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 104.6 | 100 | |
Commercial | Nonperforming | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.4 | 0.3 | |
Total consumer loans | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 71.5 | 75.9 | |
Total consumer loans | Credit card | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | (0.5) | ||
Total consumer loans | Performing | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 70.9 | 75.4 | |
Total consumer loans | Nonperforming | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 0.6 | $ 0.5 | |
Agricultural | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 1.9 | ||
Agricultural | Credit card | Year One, Originated, Current Fiscal Year | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Less loans charged-off | 0 | ||
Agricultural | Performing | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | 1.9 | ||
Agricultural | Nonperforming | Credit card | |||
Loans and Leases Receivable Recorded Investment, Criticized Loans [Line Items] | |||
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year | $ 0 |
Loans Held for Investment - S_6
Loans Held for Investment - Schedule of PCD Loans (Details) $ in Millions | Feb. 01, 2022 USD ($) |
Receivables [Abstract] | |
Purchase price (initial fair value) | $ 623.3 |
Allowance for credit losses | (298.2) |
Non-credit discount at acquisition | 57.7 |
Par value (unpaid principal balance) | 979.2 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Allowance for Loan Losses, Decreases | 238.7 |
Business Combination, Impact On Purchased Credit Deteriorated Loans | 59.5 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Difference Between Amortized Cost Basis And Unpaid Principal Balance | 39.6 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Interest Applied To Principal | $ 18.1 |
Loans Held for Investment - S_7
Loans Held for Investment - Schedule of Recorded Investment in Impaired Loans (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | $ (15.2) | $ (61.3) | ||
Accounts Receivable, Allowance for Credit Loss | 226.1 | 247.2 | $ 220.1 | $ 122.3 |
Off-Balance Sheet, Credit Loss, Liability, Credit Loss Expense (Reversal) | 12.2 | 57.3 | ||
Impaired Financing Receivable, Interest Income, Accrual Method | 0 | 0 | ||
Total real estate loans | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (13.4) | (38.5) | ||
Accounts Receivable, Allowance for Credit Loss | 147.5 | 169.6 | 138.7 | 69.3 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 13,534.6 | 13,456.2 | ||
Commercial | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | 0.8 | (19.1) | ||
Accounts Receivable, Allowance for Credit Loss | 54.4 | 58.2 | 54.9 | 31.6 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 3,028 | 2,882.6 | ||
Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | 1.1 | 0.5 | ||
Accounts Receivable, Allowance for Credit Loss | 2.4 | (1) | 3.2 | 0.3 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 660.4 | 708.3 | ||
Non-owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (1.3) | (6.7) | ||
Accounts Receivable, Allowance for Credit Loss | 26 | 45.2 | 27.2 | 17.3 |
Owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | 0.2 | (4.6) | ||
Accounts Receivable, Allowance for Credit Loss | 17.6 | 25.2 | 19.5 | 13.3 |
Commercial | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (8.2) | (22.7) | ||
Accounts Receivable, Allowance for Credit Loss | 78.6 | 125 | 74.6 | 43.9 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 8,680.8 | 8,528.6 | ||
Residential construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (0.1) | (0.9) | ||
Accounts Receivable, Allowance for Credit Loss | 3.7 | 3.3 | 3.6 | 2.4 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 471.4 | 516.2 | ||
Commercial construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (5.9) | (4) | ||
Accounts Receivable, Allowance for Credit Loss | 37.1 | 10.2 | 31.2 | 6 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 1,053.1 | 1,042 | ||
Total construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (6.3) | (4.1) | ||
Accounts Receivable, Allowance for Credit Loss | 42.4 | 14 | 36.1 | 8.9 |
Residential 1-4 family | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | 0.2 | (5.2) | ||
Accounts Receivable, Allowance for Credit Loss | 20.2 | 18.7 | 20.5 | 13.4 |
Residential | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | (0.1) | (5.3) | ||
Accounts Receivable, Allowance for Credit Loss | 21.7 | 20.1 | 22.1 | 14.6 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 2,191.1 | 2,188.3 | ||
Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Provision charged to operating expense | 1.2 | (6.4) | ||
Accounts Receivable, Allowance for Credit Loss | 4.8 | $ 10.5 | 5.9 | $ 1.9 |
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 769.7 | 794.9 | ||
Collateral [Member] | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 59.5 | 39.1 | ||
Collateral [Member] | Commercial | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 7.5 | 4.6 | ||
Collateral [Member] | Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 2.6 | 7.3 | ||
Collateral [Member] | Non-owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 13.8 | 4.4 | ||
Collateral [Member] | Owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 12.1 | 13 | ||
Collateral [Member] | Residential construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 17.9 | 3.2 | ||
Collateral [Member] | Commercial construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0.5 | |||
Collateral [Member] | Residential 1-4 family | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0.5 | 0.5 | ||
Collateral [Member] | Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 4.6 | 6.1 | ||
Business Assets [Member] | Collateral [Member] | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 9.1 | 7.1 | ||
Business Assets [Member] | Collateral [Member] | Commercial | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 5.4 | 3.1 | ||
Business Assets [Member] | Collateral [Member] | Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 2.1 | 2.1 | ||
Business Assets [Member] | Collateral [Member] | Non-owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 1.6 | 1.7 | ||
Business Assets [Member] | Collateral [Member] | Owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Business Assets [Member] | Collateral [Member] | Residential construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Business Assets [Member] | Collateral [Member] | Commercial construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | |||
Business Assets [Member] | Collateral [Member] | Residential 1-4 family | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0 | ||
Business Assets [Member] | Collateral [Member] | Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0 | 0.2 | ||
Real Property [Member] | Collateral [Member] | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 50.4 | 32 | ||
Real Property [Member] | Collateral [Member] | Commercial | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 2.1 | 1.5 | ||
Real Property [Member] | Collateral [Member] | Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0.5 | 5.2 | ||
Real Property [Member] | Collateral [Member] | Non-owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 12.2 | 2.7 | ||
Real Property [Member] | Collateral [Member] | Owner occupied | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 12.1 | 13 | ||
Real Property [Member] | Collateral [Member] | Residential construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 17.9 | 3.2 | ||
Real Property [Member] | Collateral [Member] | Commercial construction | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0.5 | |||
Real Property [Member] | Collateral [Member] | Residential 1-4 family | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | 0.5 | 0.5 | ||
Real Property [Member] | Collateral [Member] | Agricultural | ||||
Loans and Leases Receivable Recorded Investment, Impaired [Line Items] | ||||
Financing Receivable, Excluding Accrued Interest, before Allowance for Credit Loss | $ 4.6 | $ 5.9 |
Loans Held for Investment - Nar
Loans Held for Investment - Narrative (Details) - USD ($) | 3 Months Ended | |||
Mar. 13, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Receivables [Abstract] | ||||
Commitments to purchase or sell | $ 0 | $ 0 | ||
Proceeds from sale of loans held-for-investment | 0 | $ 0 | ||
Interest Receivable | 113,700,000 | $ 118,300,000 | ||
Debt Securities, Held-to-Maturity, Amortized Cost, after Allowance for Credit Loss, Transfer, Amount | $ 23,000,000 | |||
Debt Securities, Held-To-Maturity, After Allowance For Credit Loss, Transfer, Amount | 13,200,000 | |||
Allowance for Credit Losses | $ 800,000 | $ 0 | ||
Debt Securities, Current | $ 853,000,000 |
Loans Held for Investment - S_8
Loans Held for Investment - Schedule of Modifications to Borrowers (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Dec. 31, 2022 | |
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Interest Receivable | $ 113.7 | $ 118.3 |
Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | 1.7 | |
Financing Receivable, Excluding Accrued Interest, Modified Period | 27.2 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 25.5 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.20% | |
Interest Receivable | $ 0.3 | |
Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | 1.6 | |
Non-owner occupied | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 4 years | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 2.4 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 2.4 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.10% | |
Non-owner occupied | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Land acquisition & development | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 12 years 4 months 24 days | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 0.2 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 0.2 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.10% | |
Land acquisition & development | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Home equity and HELOC | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0.1 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 37 years 7 months 6 days | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 0.1 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 0 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0% | |
Home equity and HELOC | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0.3 | |
Agricultural | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 7 years 2 months 12 days | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 1.2 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 1.2 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.20% | |
Agricultural | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Commercial and floor plans | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 11 years 6 months | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 2 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 2 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.10% | |
Commercial and floor plans | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Commercial purpose secured by 1-4 family | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 8 years 8 months 12 days | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 0.6 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 0.6 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.10% | |
Commercial purpose secured by 1-4 family | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Agricultural | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 9 years 3 months 18 days | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 17.8 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 17.8 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 2.70% | |
Agricultural | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 0 | |
Owner occupied | Borrowers in Financial Distress | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 1.6 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension, Weighted-Average Months | 9 years 8 months 12 days | |
Financing Receivable, Excluding Accrued Interest, Modified Period | $ 2.9 | |
Financing Receivable, Excluding Accrued Interest, Modified Period, Term Extension | $ 1.3 | |
Financing Receivable, Modification to Total Financing Receivables, Excluding Accrued Interest, Percent | 0.10% | |
Owner occupied | Borrowers in Financial Difficulty | ||
Financing Receivable, Modifications to Borrowers [Line Items] | ||
Financing Receivable, Excluding Accrued Interest, Modified Period, Principal Forgiveness | $ 1.3 |
Other Real Estate Owned (Detail
Other Real Estate Owned (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Repossessed Assets [Abstract] | ||
Balance at beginning of year | $ 12.7 | $ 2 |
OREO acquired through acquisitions | 0 | 15.8 |
Additions | 0.8 | 0 |
Write-down of OREO | (0.1) | 0 |
Dispositions | 0 | (0.3) |
Balance at end of year | $ 13.4 | $ 17.5 |
Other Real Estate Owned - Narra
Other Real Estate Owned - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Balance at beginning of year | ||
Carrying values of foreclosed residential real estate properties | $ 0.6 | |
Consumer mortgage loans collateralized by residential real estate property in the process of foreclosure | $ 0.3 | $ 0 |
Derivatives and Hedging Activ_3
Derivatives and Hedging Activities - Schedule of Notional Amounts of Outstanding Derivative Positions (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | $ 2,560.9 | $ 2,290.7 |
Derivative Asset, Estimated Fair Value | 43.1 | 45.2 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 2,111.6 | 2,449 |
Derivative Liabilities, Estimated Fair Value | 126.7 | 159.6 |
Not Designated as Hedging Instrument | Interest rate swap contracts | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 1,674.7 | 1,728.1 |
Derivative Asset, Estimated Fair Value | 31.1 | 41.6 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 1,674.7 | 1,728.1 |
Derivative Liabilities, Estimated Fair Value | 122.7 | 153.9 |
Not Designated as Hedging Instrument | Interest rate lock commitments | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 36.2 | 0 |
Derivative Asset, Estimated Fair Value | 0.3 | 0 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 0 | 14.8 |
Derivative Liabilities, Estimated Fair Value | 0 | 0 |
Not Designated as Hedging Instrument | Forward loan sales contracts | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 0 | 12.6 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 32.2 | 0 |
Derivative Liabilities, Estimated Fair Value | 0.1 | 0 |
Designated as Hedging Instrument [Member] | Interest rate swap contracts | ||
Derivative Assets (included in other assets on the consolidated balance sheets): | ||
Derivative Asset, Notional Amount | 850 | 550 |
Derivative Asset, Estimated Fair Value | 11.7 | 3.5 |
Derivative Liabilities (included in accounts payable and accrued expenses on the consolidated balance sheets): | ||
Derivative Liabilities, Notional Amount | 0 | 300 |
Derivative Liabilities, Estimated Fair Value | $ 0 | $ 0.3 |
Derivatives and Hedging Activ_4
Derivatives and Hedging Activities - Offsetting Assets and Liabilities (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Financial Assets | |||
Gross Amounts Recognized | $ 43.1 | $ 45.2 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 43.1 | 45.2 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 42.8 | 45.1 | |
Net Amount | 0.3 | 0.1 | |
Financial Liabilities | |||
Gross Amounts Recognized | 126.7 | 159.6 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 126.7 | 159.6 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | |
Net Amount | 126.7 | 159.6 | |
Repurchase agreements | |||
Gross Amounts Recognized | 970.8 | 1,052.9 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 970.8 | 1,052.9 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 970.8 | 1,052.9 | |
Net Amount | 0 | 0 | |
Total assets and liabilities | |||
Gross Amounts Recognized | 1,097.5 | 1,212.5 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 1,097.5 | 1,212.5 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 970.8 | 1,052.9 | |
Net Amount | 126.7 | 159.6 | |
Derivative Liability, Notional Amount | 2,111.6 | 2,449 | |
Not Designated as Hedging Instrument | |||
Total assets and liabilities | |||
Amount of net gains recognized in mortgage banking revenues | 0.1 | $ (0.5) | |
Interest Rate Swap | |||
Financial Assets | |||
Gross Amounts Recognized | 42.8 | 45.1 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 42.8 | 45.1 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 42.8 | 45.1 | |
Net Amount | 0 | 0 | |
Financial Liabilities | |||
Gross Amounts Recognized | 126.6 | 159.6 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 126.6 | 159.6 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | |
Net Amount | 126.6 | 159.6 | |
Interest Rate Swap | Not Designated as Hedging Instrument | |||
Total assets and liabilities | |||
Derivative Liability, Notional Amount | 1,674.7 | 1,728.1 | |
Mortgage Related Derivatives | |||
Financial Assets | |||
Gross Amounts Recognized | 0.3 | 0.1 | |
Gross Amounts Offset in the Balance Sheet | 0 | 0 | |
Net Amounts in the Balance Sheet | 0.3 | 0.1 | |
Financial Instruments | 0 | 0 | |
Fair Value of Financial Collateral in the Balance Sheet | 0 | 0 | |
Net Amount | 0.3 | 0.1 | |
Financial Liabilities | |||
Gross Amounts Recognized | 0.1 | ||
Gross Amounts Offset in the Balance Sheet | 0 | ||
Net Amounts in the Balance Sheet | 0.1 | ||
Financial Instruments | 0 | ||
Fair Value of Financial Collateral in the Balance Sheet | 0 | ||
Net Amount | 0.1 | ||
Risk Participation Agreements | Not Designated as Hedging Instrument | |||
Total assets and liabilities | |||
Derivative Liability, Notional Amount | $ 104.7 | $ 106.1 |
Derivatives and Hedging Activ_5
Derivatives and Hedging Activities - Schedule of Derivative Instruments, Effect on Other Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Derivative [Line Items] | |||
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | $ 5.1 | ||
Derivative Instruments and Hedges, Assets | 192.2 | $ 191.9 | |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 7.8 | 8.1 | |
Financial Instruments | 0 | 0 | |
Derivative Asset, Notional Amount | 2,560.9 | 2,290.7 | |
Derivative Asset, Estimated Fair Value | 43.1 | 45.2 | |
Derivative Liability, Notional Amount | 2,111.6 | 2,449 | |
Derivative Liabilities, Estimated Fair Value | 126.7 | 159.6 | |
Collateral Pledged | |||
Derivative [Line Items] | |||
Derivative, Fair Value, Net | 0 | ||
Financial Instruments | 0 | ||
Not Designated as Hedging Instrument | |||
Derivative [Line Items] | |||
Amount of net fee income recognized in other non-interest income | 0.1 | $ 2 | |
Amount of net gains recognized in mortgage banking revenues | 0.1 | (0.5) | |
Interest Rate Swap | |||
Derivative [Line Items] | |||
Financial Instruments | 0 | 0 | |
Interest Rate Swap | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative Asset, Notional Amount | 850 | 550 | |
Derivative Asset, Estimated Fair Value | 11.7 | 3.5 | |
Derivative Liability, Notional Amount | 0 | 300 | |
Derivative Liabilities, Estimated Fair Value | 0 | 0.3 | |
Interest Rate Swap | Not Designated as Hedging Instrument | |||
Derivative [Line Items] | |||
Derivative Asset, Notional Amount | 1,674.7 | 1,728.1 | |
Derivative Asset, Estimated Fair Value | 31.1 | 41.6 | |
Derivative Liability, Notional Amount | 1,674.7 | 1,728.1 | |
Derivative Liabilities, Estimated Fair Value | 122.7 | 153.9 | |
Risk Participation Agreements | Not Designated as Hedging Instrument | |||
Derivative [Line Items] | |||
Derivative Liability, Notional Amount | 104.7 | 106.1 | |
Derivative Liabilities, Estimated Fair Value | 0 | 0 | |
Forward Contracts | Not Designated as Hedging Instrument | |||
Derivative [Line Items] | |||
Derivative, Fair Value, Net | 0 | 0.1 | |
Derivative Asset, Notional Amount | 0 | 12.6 | |
Derivative Liability, Notional Amount | 32.2 | 0 | |
Derivative Liabilities, Estimated Fair Value | 0.1 | 0 | |
Interest Rate Lock Commitments | Not Designated as Hedging Instrument | |||
Derivative [Line Items] | |||
Derivative Asset, Notional Amount | 36.2 | 0 | |
Derivative Asset, Estimated Fair Value | 0.3 | 0 | |
Derivative Liability, Notional Amount | 0 | 14.8 | |
Derivative Liabilities, Estimated Fair Value | 0 | 0 | |
Interest Rate Collars | |||
Derivative [Line Items] | |||
Derivative Instruments and Hedges, Assets | 300 | ||
Interest Rate Collars | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Derivative Liability, Notional Amount | 300 | 300 | |
Derivative Liabilities, Estimated Fair Value | 3.9 | $ 5.4 | |
Cash Flow Hedging [Member] | Interest Rate Swap | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | $ 7.8 | $ 0 |
Derivative Instruments and Hedg
Derivative Instruments and Hedging Activities - Narrative (Details) - USD ($) $ in Millions | 3 Months Ended | ||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Derivative [Line Items] | |||
Derivative Instruments and Hedges, Assets | $ 192.2 | $ 191.9 | |
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | 7.8 | $ 8.1 | |
Interest Rate Cash Flow Hedge Gain (Loss) to be Reclassified During Next 12 Months, Net | 5.1 | ||
Interest Income | |||
Derivative [Line Items] | |||
Unrealized Gain (Loss) on Interest Rate Cash Flow Hedges, Pretax, Accumulated Other Comprehensive Income (Loss) | 0 | $ 0 | |
Interest Rate Swap | Cash Flow Hedging [Member] | Designated as Hedging Instrument [Member] | |||
Derivative [Line Items] | |||
Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), before Reclassification, Tax | 7.8 | $ 0 | |
Interest Rate Collars | |||
Derivative [Line Items] | |||
Derivative Instruments and Hedges, Assets | 300 | ||
three-year forward starting, four-year pay fixed interest rate swap [Member] | |||
Derivative [Line Items] | |||
Derivative Instruments and Hedges, Assets | 200 | ||
Hedged Asset, Fair Value Hedge, Cumulative Increase (Decrease) | $ 8.5 |
Capital Stock (Details)
Capital Stock (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Feb. 01, 2022 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Class of Stock [Line Items] | ||||
Shares outstanding (in shares) | 104,382,018 | 104,442,023 | ||
Common shares issued (in shares) | 46,887,104 | |||
Stock repurchased and retired (in shares) | 55,080 | 37,698 | ||
Stock Repurchased and Retired During Period, Value | $ 1.8 | $ 1.4 | ||
Common Stock, Shares, Issued | 104,382,018 | 104,442,023 | ||
Great Western Bank | ||||
Class of Stock [Line Items] | ||||
Total consideration exchanged | $ 1,723.3 | |||
Class A Common Stock | ||||
Class of Stock [Line Items] | ||||
Shares outstanding (in shares) | 104,442,023 | |||
Common Stock, Shares, Issued | 104,442,023 | |||
Class A Common Stock | Great Western Bank | ||||
Class of Stock [Line Items] | ||||
Number of shares issued as consideration (in shares) | 46,900,000 |
Earnings per Common Share (Deta
Earnings per Common Share (Details) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Earnings Per Share, Basic and Diluted [Line Items] | ||
Net income (loss) | $ 56.3 | $ (33.4) |
Weighted average common shares outstanding for basic earnings per share computation (in shares) | 103,737,664 | 92,855,173 |
Dilutive effects of stock-based compensation (in shares) | 81,055 | 0 |
Weighted average common shares outstanding for diluted earnings per common share computation (in shares) | 103,818,719 | 92,855,173 |
Basic earnings per common share (in dollars per share) | $ 0.54 | $ (0.36) |
Diluted earnings per common share (in dollars per share) | $ 0.54 | $ (0.36) |
Restricted Stock | ||
Earnings Per Share, Basic and Diluted [Line Items] | ||
Anti-dilutive unvested time restricted stock (in shares) | 132,410 | 55,504 |
Unvested restricted stock | ||
Earnings Per Share, Basic and Diluted [Line Items] | ||
Anti-dilutive unvested time restricted stock (in shares) | 330,408 | 537,374 |
Common Stock | ||
Earnings Per Share, Basic and Diluted [Line Items] | ||
Anti-dilutive unvested time restricted stock (in shares) | 71,379 |
Regulatory Capital (Details)
Regulatory Capital (Details) $ in Millions | Jan. 01, 2020 USD ($) | Mar. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) |
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items] | |||
Retained Earnings (Accumulated Deficit) | $ 1,080.7 | $ 1,072.7 | |
Total risk-based capital: | |||
Actual, Amount | $ 2,899 | $ 2,875.8 | |
Actual, Ratio | 0.1263 | 0.1248 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 1,836.6 | $ 1,843.2 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0800 | 0.0800 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 2,410.6 | $ 2,419.2 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 10.50% | 10.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 2,295.8 | $ 2,304 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.1000 | 0.1000 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital, Capital Adequacy, Minimum | $ 1,033.1 | $ 1,036.8 | |
Tier 1 risk-based capital: | |||
Actual, Amount | $ 2,415.4 | $ 2,408.8 | |
Actual, Ratio | 0.1052 | 0.1045 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 1,377.5 | $ 1,382.4 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0600 | 0.0600 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 1,951.4 | $ 1,958.4 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 8.50% | 8.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 1,836.6 | $ 1,843.2 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0800 | 0.0800 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum | 0.0650 | 0.0650 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.0450 | 0.0450 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual | 0.1052 | 0.1045 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital, Well Capitalized, Minimum | $ 1,492.3 | $ 1,497.6 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual | 2,415.4 | 2,408.8 | |
Common equity tier 1 risk-based capital: | |||
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 1,607.1 | $ 1,612.8 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 7% | 7% | |
Leverage capital ratio: | |||
Actual, Amount | $ 2,415.4 | $ 2,408.8 | |
Actual, Ratio | 0.0772 | 0.0775 | |
Banking Regulation, Tier One Leverage Capital, Capital Adequacy, Minimum | $ 1,251.6 | $ 1,242.9 | |
Capital Adequacy Purposes and Conservation Buffer, Ratio | 0.0400 | 0.0400 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 1,564.5 | $ 1,553.6 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0500 | 0.0500 | |
Income Tax Effects Allocated Directly to Equity, Cumulative Effect of Change in Accounting Principle | $ 24.1 | ||
FIB | |||
Total risk-based capital: | |||
Actual, Amount | $ 2,740.5 | $ 2,713.5 | |
Actual, Ratio | 0.1196 | 0.1180 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 1,833 | $ 1,839.6 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0800 | 0.0800 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 2,405.8 | $ 2,414.5 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 10.50% | 10.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 2,291.2 | $ 2,299.5 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.1000 | 0.1000 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital, Capital Adequacy, Minimum | $ 1,031 | $ 1,034.8 | |
Tier 1 risk-based capital: | |||
Actual, Amount | $ 2,514.5 | $ 2,504.1 | |
Actual, Ratio | 0.1097 | 0.1089 | |
Minimum Required for Capital Adequacy Purposes, Amount | $ 1,374.7 | $ 1,379.7 | |
Minimum Required for Capital Adequacy Purposes, Ratio | 0.0600 | 0.0600 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 1,947.5 | $ 1,954.6 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 8.50% | 8.50% | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 1,833 | $ 1,839.6 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0800 | 0.0800 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Well Capitalized, Minimum | 0.0650 | 0.0650 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Capital Adequacy, Minimum | 0.0450 | 0.0450 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital Ratio, Actual | 0.1097 | 0.1089 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital, Well Capitalized, Minimum | $ 1,489.3 | $ 1,494.7 | |
Banking Regulation, Common Equity Tier One Risk-Based Capital, Actual | 2,514.5 | 2,504.1 | |
Common equity tier 1 risk-based capital: | |||
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Amount | $ 1,603.8 | $ 1,609.7 | |
For Capital Adequacy Purposes Plus Capital Conservation Buffer, Ratio | 7% | 7% | |
Leverage capital ratio: | |||
Actual, Amount | $ 2,514.5 | $ 2,504.1 | |
Actual, Ratio | 0.0805 | 0.0807 | |
Banking Regulation, Tier One Leverage Capital, Capital Adequacy, Minimum | $ 1,249.8 | $ 1,241.1 | |
Capital Adequacy Purposes and Conservation Buffer, Ratio | 0.0400 | 0.0400 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Amount | $ 1,562.2 | $ 1,551.4 | |
Minimum to Be Well Capitalized Under Prompt Corrective Action Requirements, Ratio | 0.0500 | 0.0500 |
Commitments and Contingencies (
Commitments and Contingencies (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Loss Contingencies [Line Items] | ||
Shares outstanding (in shares) | 104,382,018 | 104,442,023 |
Class A Common Stock | ||
Loss Contingencies [Line Items] | ||
Shares outstanding (in shares) | 104,442,023 | |
Mortgage Loans Held For Sale [Member] | ||
Loss Contingencies [Line Items] | ||
Mortgage loans with recourse provision in effect | $ 0.8 | |
Construction Contracts | ||
Loss Contingencies [Line Items] | ||
Commitments under construction contracts | $ 6.5 |
Financial Instruments with Of_2
Financial Instruments with Off-Balance Sheet Risk (Details) - USD ($) $ in Millions | 3 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Entity Information [Line Items] | ||||
Off-Balance Sheet, Credit Loss, Liability | $ 17.8 | $ 6.2 | $ 16.2 | $ 3.8 |
Provision for credit loss expense | (12.2) | (57.3) | ||
Credit Extension Commitments | 4,976.5 | 5,173.3 | ||
Unused Credit Card Lines | ||||
Entity Information [Line Items] | ||||
Credit Extension Commitments | 819.8 | 827.6 | ||
Standby Letter of Credit | ||||
Entity Information [Line Items] | ||||
Credit Extension Commitments | 83 | $ 93.8 | ||
Cumulative effect, period of adoption, adjusted balance | ||||
Entity Information [Line Items] | ||||
Provision for credit loss expense | $ 1.6 | $ 2.4 |
Other Comprehensive Income_Lo_3
Other Comprehensive Income/Loss - Schedule of Comprehensive Income (Loss) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Investment securities available-for sale: | ||
Change in net unrealized gain during period, pre-tax | $ 78.2 | $ (252.6) |
Change in net unrealized gain during period, tax expense (benefit) | 19.6 | (62.7) |
Change in net unrealized gain during period, net of tax | 58.6 | (189.9) |
Reclassification adjustment for net gains included in income, pre-tax | 23.4 | 0.1 |
Reclassification adjustment for net gains included in income, tax expense (benefit) | 5.8 | 0 |
Reclassification adjustment for net gains included in income, net of tax | 17.6 | 0.1 |
Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale, net of tax | (7.2) | 0.2 |
Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale, tax | (1.8) | 0.1 |
Reclassification adjustment for securities transferred from held-to-maturity to available-for-sale, pre-tax | (5.4) | 0.1 |
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, pre-tax | (0.4) | (23) |
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, tax expense (benefit) | (0.1) | (5.7) |
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, net of tax | (0.3) | (17.3) |
Unrealized loss on derivatives, pre-tax | 10 | 21.3 |
Unrealized loss on derivatives, tax expense (benefit) | 2.5 | 5.3 |
Unrealized loss on derivatives, net of tax | 7.5 | 16 |
Other comprehensive income (loss), before tax | 104 | (254) |
Other Comprehensive Income (Loss), tax expense (benefit) | 26 | (63) |
Other Comprehensive Income (Loss), Net of Tax | $ 78 | $ (191) |
Other Comprehensive Income_Lo_4
Other Comprehensive Income/Loss - Schedule of Accumulated Other Comprehensive Income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended | |||
Mar. 31, 2023 | Mar. 31, 2022 | Jun. 30, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Total stockholders’ equity | $ 3,160.3 | $ 3,441.1 | $ 3,073.8 | $ 1,986.6 | |
Net unrealized gain (loss) on derivatives | 7.5 | 16 | |||
Change in net unrealized gain during period, pre-tax | 78.2 | (252.6) | |||
Change in net unrealized gain during period, tax expense (benefit) | 19.6 | (62.7) | |||
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax | 58.6 | (189.9) | |||
Reclassification adjustment for net losses included in income | 23.4 | 0.1 | |||
Reclassification adjustment for net gains included in income, tax expense (benefit) | 5.8 | 0 | |||
Reclassification from Accumulated Other Comprehensive Income, Current Period, Net of Tax | 17.6 | 0.1 | |||
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), before Tax | (0.4) | (23) | |||
Amortization of unrealized gains on available-for-sale securities transferred into held-to-maturity, tax expense (benefit) | (0.1) | (5.7) | |||
OCI, Debt Securities, Available-for-Sale, Transfer to Held-to-Maturity, Adjustment from AOCI for Amortization of Gain (Loss), after Tax | (0.3) | (17.3) | |||
Unrealized loss on derivatives, pre-tax | 10 | 21.3 | |||
Unrealized loss on derivatives, tax expense (benefit) | 2.5 | 5.3 | |||
Other comprehensive income (loss), before tax | 104 | (254) | |||
Other Comprehensive Income (Loss), tax expense (benefit) | 26 | (63) | |||
Other Comprehensive Income (Loss), Net of Tax | 78 | (191) | |||
Net unrealized loss on investment securities available-for-sale | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Total stockholders’ equity | (400.2) | (471) | |||
OCI, Debt Securities, Available-for-Sale, Transfer from Held-to-Maturity, Gain (Loss), before Adjustment, after Tax | (4.9) | $ (4.5) | |||
Net unrealized gain (loss) on derivatives | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Net unrealized gain (loss) on derivatives | 6 | $ (1.6) | |||
Net accumulated other comprehensive loss | |||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | |||||
Total stockholders’ equity | $ (399.1) | $ (202) | $ (477.1) | $ (11) |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Financial Assets and Financial Liabilities Measured at Fair Value on a Recurring and Non-Recurring Basis (Details) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Transfers, Net | $ 0 | $ 0 | |
Derivative assets | 43.1 | $ 45.2 | |
Derivative liabilities | 126.7 | 159.6 | |
Write downs | (0.1) | $ 0 | |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 0 | 0 | |
Deferred compensation plan assets | 0 | 0 | |
Deferred compensation plan liabilities | 0 | 0 | |
Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 8.5 | 6.9 | |
Deferred compensation plan assets | 17.3 | 18.7 | |
Deferred compensation plan liabilities | 17.3 | 18.7 | |
Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 7.5 | 5.5 | |
Deferred compensation plan assets | 0 | 0 | |
Deferred compensation plan liabilities | 0 | 0 | |
U.S. Treasury notes | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
U.S. Treasury notes | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 223.2 | 642.7 | |
U.S. Treasury notes | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
State, county, and municipal securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
State, county, and municipal securities | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 221.1 | 263.7 | |
State, county, and municipal securities | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Obligations of U.S. government agencies | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Obligations of U.S. government agencies | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 174.1 | 198.9 | |
Obligations of U.S. government agencies | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 3,858.4 | 4,259.7 | |
U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Private mortgage-backed securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Private mortgage-backed securities | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 225.1 | 228 | |
Private mortgage-backed securities | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Corporate securities | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Corporate securities | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 233.5 | 241.5 | |
Corporate securities | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Collateral-dependent loans | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Collateral-dependent loans | 0 | 0 | |
Collateral-dependent loans | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Collateral-dependent loans | 0 | 0 | |
Collateral-dependent loans | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Collateral-dependent loans | 59.5 | 39.1 | |
Collateralized Loan Obligations | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Collateralized Loan Obligations | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 1,113.9 | 1,111.6 | |
Collateralized Loan Obligations | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Estimated Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 6,049.3 | 6,946.1 | |
Derivative assets | 43.1 | 45.2 | |
Derivative liabilities | 126.7 | 159.6 | |
Deferred compensation plan assets | 17.3 | 18.7 | |
Deferred compensation plan liabilities | 17.3 | 18.7 | |
Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale | 16 | 12.4 | |
Deferred compensation plan assets | 17.3 | 18.7 | |
Deferred compensation plan liabilities | 17.3 | 18.7 | |
Estimated Fair Value | Quoted Prices in Active Markets for Identical Assets (Level 1) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Derivative assets | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Deferred compensation plan assets | 0 | 0 | |
Deferred compensation plan liabilities | 0 | 0 | |
Estimated Fair Value | Significant Other Observable Inputs (Level 2) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 6,049.3 | 6,946.1 | |
Derivative assets | 43.1 | 45.2 | |
Derivative liabilities | 126.7 | 159.6 | |
Deferred compensation plan assets | 17.3 | 18.7 | |
Deferred compensation plan liabilities | 17.3 | 18.7 | |
Estimated Fair Value | Significant Unobservable Inputs (Level 3) | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 0 | 0 | |
Derivative assets | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Deferred compensation plan assets | 0 | 0 | |
Deferred compensation plan liabilities | 0 | 0 | |
Estimated Fair Value | U.S. Treasury notes | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 223.2 | 642.7 | |
Estimated Fair Value | State, county, and municipal securities | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 221.1 | 263.7 | |
Estimated Fair Value | Obligations of U.S. government agencies | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 174.1 | 198.9 | |
Estimated Fair Value | U.S. agency residential & commercial mortgage-backed securities & collateralized mortgage obligations | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 3,858.4 | 4,259.7 | |
Estimated Fair Value | Private mortgage-backed securities | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 225.1 | 228 | |
Estimated Fair Value | Corporate securities | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 233.5 | 241.5 | |
Estimated Fair Value | Collateral-dependent loans | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Collateral-dependent loans | 59.5 | 39.1 | |
Estimated Fair Value | Collateralized Loan Obligations | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 1,113.9 | 1,111.6 | |
Carrying Amount | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Investment debt securities available-for-sale | 6,049.3 | 6,946.1 | |
Derivative assets | 43.1 | 45.2 | |
Derivative liabilities | 126.7 | 159.6 | |
Deferred compensation plan assets | 17.3 | 18.7 | |
Deferred compensation plan liabilities | 17.3 | 18.7 | |
Carrying Amount | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Collateral-dependent loans | 59.5 | 39.1 | |
Long-lived assets to be disposed of by sale | $ 5 | $ 5.5 | |
Long-Lived Assets Held-for-sale, Description | 5.1 million | 5.7 million | |
Change During Period | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-lived assets to be disposed of by sale | $ 0.1 | $ 0.2 | |
Interest Rate Swap | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 42.8 | 45.1 | |
Derivative liabilities | 126.6 | 159.6 | |
Interest Rate Swap | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Interest Rate Swap | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 42.8 | 45.1 | |
Derivative liabilities | 122.7 | 154.2 | |
Interest Rate Swap | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | 0 | |
Derivative liabilities | 0 | 0 | |
Interest Rate Swap | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 42.8 | 45.1 | |
Derivative liabilities | 122.7 | 154.2 | |
Interest Rate Lock Commitments | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | ||
Interest Rate Lock Commitments | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0.3 | ||
Interest Rate Lock Commitments | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | ||
Interest Rate Lock Commitments | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0.3 | ||
Forward Contracts | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | ||
Derivative liabilities | 0 | ||
Forward Contracts | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0.1 | ||
Derivative liabilities | 0.1 | ||
Forward Contracts | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | ||
Derivative liabilities | 0 | ||
Forward Contracts | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0.1 | ||
Derivative liabilities | 0.1 | ||
Interest Rate Collars | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | ||
Derivative liabilities | 0 | ||
Interest Rate Collars | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 5.4 | ||
Derivative liabilities | 3.9 | ||
Interest Rate Collars | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 0 | ||
Derivative liabilities | 0 | ||
Interest Rate Collars | Estimated Fair Value | Fair Value Measured on a Recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Derivative assets | 5.4 | ||
Derivative liabilities | 3.9 | ||
Long-lived assets to be disposed of by sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-lived assets to be disposed of by sale | 0 | 0 | |
Long-lived assets to be disposed of by sale | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-lived assets to be disposed of by sale | 0 | 0 | |
Long-lived assets to be disposed of by sale | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-lived assets to be disposed of by sale | 5 | 5.5 | |
Long-lived assets to be disposed of by sale | Estimated Fair Value | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Long-lived assets to be disposed of by sale | $ 5 | $ 5.5 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value Inputs, Quantitative Information (Details) $ in Millions | 3 Months Ended | |||
Mar. 31, 2023 USD ($) | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | |
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Real Estate Acquired Through Foreclosure | $ 13.4 | $ 17.5 | $ 12.7 | $ 2 |
Material write downs | 0.1 | $ 0 | ||
Significant Unobservable Inputs (Level 3) | Carrying Amount | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Collateral-dependent loans | 59.5 | 39.1 | ||
Collateral-dependent loans | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Collateral-dependent loans | 0 | 0 | ||
Collateral-dependent loans | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Collateral-dependent loans | 0 | 0 | ||
Collateral-dependent loans | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Collateral-dependent loans | 59.5 | 39.1 | ||
Collateral-dependent loans | Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Collateral-dependent loans | $ 59.5 | 39.1 | ||
Collateral-dependent loans | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Minimum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0 | |||
Collateral-dependent loans | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Maximum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.45 | |||
Collateral-dependent loans | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Weighted Average | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | (0.07) | |||
Other real estate owned | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Other real estate owned | $ 0 | 0 | ||
Other real estate owned | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Other real estate owned | 0 | 0 | ||
Other real estate owned | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Other real estate owned | 13.4 | 12.7 | ||
Other real estate owned | Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Other real estate owned | $ 13.4 | 12.7 | ||
Other real estate owned | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Minimum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.15 | |||
Other real estate owned | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Maximum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.36 | |||
Other real estate owned | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Weighted Average | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.22 | |||
Loans held for sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Financing Receivable, Held-for-Sale, Nor Part of Disposal Group, after Valuation Allowance, Fair Value Disclosure | $ 0 | 0 | ||
Loans held for sale | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Financing Receivable, Held-for-Sale, Nor Part of Disposal Group, after Valuation Allowance, Fair Value Disclosure | 0 | 0 | ||
Loans held for sale | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Financing Receivable, Held-for-Sale, Nor Part of Disposal Group, after Valuation Allowance, Fair Value Disclosure | 64.9 | 67.5 | ||
Loans held for sale | Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Financing Receivable, Held-for-Sale, Nor Part of Disposal Group, after Valuation Allowance, Fair Value Disclosure | $ 64.9 | 67.5 | ||
Loans held for sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Minimum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.11 | |||
Loans held for sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Maximum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.23 | |||
Loans held for sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Weighted Average | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.17 | |||
Long-lived assets to be disposed of by sale | Quoted Prices in Active Markets for Identical Assets (Level 1) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Long-lived assets to be disposed of by sale | $ 0 | 0 | ||
Long-lived assets to be disposed of by sale | Significant Other Observable Inputs (Level 2) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Long-lived assets to be disposed of by sale | 0 | 0 | ||
Long-lived assets to be disposed of by sale | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Long-lived assets to be disposed of by sale | 5 | 5.5 | ||
Long-lived assets to be disposed of by sale | Significant Unobservable Inputs (Level 3) | Estimated Fair Value | Fair Value Measured on a Non-recurring Basis | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Long-lived assets to be disposed of by sale | $ 5 | $ 5.5 | ||
Long-lived assets to be disposed of by sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Minimum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0 | |||
Long-lived assets to be disposed of by sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Maximum | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | 0.06 | |||
Long-lived assets to be disposed of by sale | Discount Rate | Significant Unobservable Inputs (Level 3) | Fair Value Measured on a Non-recurring Basis | Weighted Average | Market Approach Valuation Technique | ||||
Fair Value Inputs, Assets, Quantitative Information [Line Items] (Deprecated 2018-01-31) | ||||
Discount rate | (0.03) |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Estimated Fair Values of Financial Instruments by Level of Valuation Inputs (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Financial assets: | ||
Investment debt securities held-to-maturity | $ 3,025.8 | $ 3,052.2 |
Derivative assets | 43.1 | 45.2 |
Financial liabilities: | ||
Derivative liabilities | 126.7 | 159.6 |
Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 1,080.7 | 870.5 |
Investment debt securities available-for-sale | 6,049.3 | 6,946.1 |
Investment debt securities held-to-maturity | 3,025.8 | 3,052.2 |
Accrued interest receivable | 113.7 | 118.3 |
Mortgage servicing rights, net | 38.1 | 37.4 |
Loans held for sale | 80.9 | 79.9 |
Net loans held for investment | 17,585.5 | 17,552.1 |
Derivative assets | 43.1 | 45.2 |
Deferred compensation plan assets | 17.3 | 18.7 |
Total financial assets | 28,034.4 | 28,720.4 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 21,858.1 | 23,145.2 |
Time deposits | 2,198.8 | 1,876.1 |
Securities sold under repurchase agreements | 970.8 | 1,052.9 |
Other Borrowings | 2,710 | 2,327 |
Accrued interest payable | 26.1 | 14.5 |
Long-term debt | 114.5 | 116.3 |
Subordinated debentures held by subsidiary trusts | 157.8 | 155.8 |
Derivative liabilities | 126.7 | 159.6 |
Deferred compensation plan liabilities | 17.3 | 18.7 |
Total financial liabilities | 28,180.1 | 28,866.1 |
Carrying Amount | ||
Financial assets: | ||
Cash and cash equivalents | 1,080.7 | 870.5 |
Investment debt securities available-for-sale | 6,049.3 | 6,946.1 |
Investment debt securities held-to-maturity | 3,376.2 | 3,451.8 |
Accrued interest receivable | 113.7 | 118.3 |
Mortgage servicing rights, net | 30.1 | 31.1 |
Loans held for sale | 80.9 | 79.9 |
Net loans held for investment | 18,019.6 | 17,879.1 |
Derivative assets | 43.1 | 45.2 |
Deferred compensation plan assets | 17.3 | 18.7 |
Total financial assets | 28,810.9 | 29,440.7 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 21,858.1 | 23,145.2 |
Time deposits | 2,248.9 | 1,928.4 |
Securities sold under repurchase agreements | 970.8 | 1,052.9 |
Other Borrowings | 2,710 | 2,327 |
Accrued interest payable | 26.1 | 14.5 |
Long-term debt | 120.8 | 120.8 |
Subordinated debentures held by subsidiary trusts | 163.1 | 163.1 |
Derivative liabilities | 126.7 | 159.6 |
Deferred compensation plan liabilities | 17.3 | 18.7 |
Total financial liabilities | 28,241.8 | 28,930.2 |
Quoted Prices in Active Markets for Identical Assets (Level 1) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 1,080.7 | 870.5 |
Investment debt securities available-for-sale | 0 | 0 |
Investment debt securities held-to-maturity | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 |
Loans held for sale | 0 | 0 |
Net loans held for investment | 0 | 0 |
Derivative assets | 0 | 0 |
Deferred compensation plan assets | 0 | 0 |
Total financial assets | 1,080.7 | 870.5 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 21,858.1 | 23,145.2 |
Time deposits | 0 | 0 |
Securities sold under repurchase agreements | 0 | 0 |
Other Borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures held by subsidiary trusts | 0 | 0 |
Derivative liabilities | 0 | 0 |
Deferred compensation plan liabilities | 0 | 0 |
Total financial liabilities | 21,858.1 | 23,145.2 |
Significant Other Observable Inputs (Level 2) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment debt securities available-for-sale | 6,049.3 | 6,946.1 |
Investment debt securities held-to-maturity | 3,025.8 | 3,052.2 |
Accrued interest receivable | 113.7 | 118.3 |
Mortgage servicing rights, net | 38.1 | 37.4 |
Loans held for sale | 8.5 | 6.9 |
Net loans held for investment | 17,526 | 17,513 |
Derivative assets | 43.1 | 45.2 |
Deferred compensation plan assets | 17.3 | 18.7 |
Total financial assets | 26,821.8 | 27,737.8 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 0 | 0 |
Time deposits | 2,198.8 | 1,876.1 |
Securities sold under repurchase agreements | 970.8 | 1,052.9 |
Other Borrowings | 2,710 | 2,327 |
Accrued interest payable | 26.1 | 14.5 |
Long-term debt | 114.5 | 116.3 |
Subordinated debentures held by subsidiary trusts | 157.8 | 155.8 |
Derivative liabilities | 126.7 | 159.6 |
Deferred compensation plan liabilities | 17.3 | 18.7 |
Total financial liabilities | 6,322 | 5,720.9 |
Significant Unobservable Inputs (Level 3) | Estimated Fair Value | ||
Financial assets: | ||
Cash and cash equivalents | 0 | 0 |
Investment debt securities available-for-sale | 0 | 0 |
Investment debt securities held-to-maturity | 0 | 0 |
Accrued interest receivable | 0 | 0 |
Mortgage servicing rights, net | 0 | 0 |
Loans held for sale | 72.4 | 73 |
Net loans held for investment | 59.5 | 39.1 |
Derivative assets | 0 | 0 |
Deferred compensation plan assets | 0 | 0 |
Total financial assets | 131.9 | 112.1 |
Financial liabilities: | ||
Total deposits, excluding time deposits | 0 | 0 |
Time deposits | 0 | 0 |
Securities sold under repurchase agreements | 0 | 0 |
Other Borrowings | 0 | 0 |
Accrued interest payable | 0 | 0 |
Long-term debt | 0 | 0 |
Subordinated debentures held by subsidiary trusts | 0 | 0 |
Derivative liabilities | 0 | 0 |
Deferred compensation plan liabilities | 0 | 0 |
Total financial liabilities | $ 0 | $ 0 |
Other Borrowed Funds - Narrativ
Other Borrowed Funds - Narrative (Details) - USD ($) $ in Millions | Mar. 31, 2023 | Dec. 31, 2022 |
Advance from Federal Home Loan Bank | $ 2,710 | $ 2,327 |
5.01% fixed rate borrowings in tenors up to one-month | ||
Advance from Federal Home Loan Bank | $ 850 | |
Fixed-to-floating rate (percent) | 5.01% | |
5.11% average fixed rate borrowings in tenors of 2-month | ||
Advance from Federal Home Loan Bank | $ 800 | |
Fixed-to-floating rate (percent) | 5.11% | |
5.12% average fixed rate borrowings in tenors of 3-months | ||
Advance from Federal Home Loan Bank | $ 1,060 | |
Fixed-to-floating rate (percent) | 5.12% | |
Notes Payable to FHLB | Subsidiaries | Federal Home Loan Bank Advances | ||
Federal Home Loan Bank, Advances, General Debt Obligations, Amount of Available, Unused Funds | $ 3,678.7 | |
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available | $ 6,388.7 |
Subsequent Events (Details)
Subsequent Events (Details) | Apr. 25, 2023 $ / shares |
Class A Common Stock | Subsequent Event | |
Subsequent Event [Line Items] | |
Dividend amount per share (in dollars) | $ 0.47 |