LHFI and ACL, LHFI (Tables)

6 Months Ended

Jun. 30, 2025

Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]

Loan Portfolio Held for Investment

At June 30, 2025 and December 31, 2024, LHFI consisted of the following ($ in thousands):


		June 30, 2025				December 31, 2024
Loans secured by real estate:
Construction, land development and other land		$	560,913			$	587,244
Other secured by 1-4 family residential properties			689,089				650,550
Secured by nonfarm, nonresidential properties			3,478,932				3,533,282
Other real estate secured			1,918,341				1,633,830
Other loans secured by real estate:
Other construction			794,310				829,904
Secured by 1-4 family residential properties			2,368,273				2,298,993
Commercial and industrial loans			1,832,295				1,840,722
Consumer loans			152,921				156,569
State and other political subdivision loans			961,251				969,836
Other commercial loans and leases			708,455				589,012
LHFI			13,464,780				13,089,942
Less ACL			168,237				160,270
Net LHFI		$	13,296,543			$	12,929,672

Schedule of Amortized Cost Basis of Loans on Nonaccrual Status

The following tables provide the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more still accruing interest at June 30, 2025 and December 31, 2024 ($ in thousands):


		June 30, 2025
		Nonaccrual With No ACL				Total Nonaccrual				Loans Past Due 90 Days or More Still Accruing
Loans secured by real estate:
Construction, land development and other land		$	—			$	289			$	—
Other secured by 1-4 family residential properties			481				7,682				303
Secured by nonfarm, nonresidential properties			—				3,283				—
Other real estate secured			234				333				—
Other loans secured by real estate:
Secured by 1-4 family residential properties			1,503				45,944				3,181
Commercial and industrial loans			9				22,342				—
Consumer loans			—				350				370
Other commercial loans and leases			—				777				—
Total		$	2,227			$	81,000			$	3,854


		December 31, 2024
		Nonaccrual With No ACL				Total Nonaccrual				Loans Past Due 90 Days or More Still Accruing
Loans secured by real estate:
Construction, land development and other land		$	—			$	366			$	159
Other secured by 1-4 family residential properties			521				7,275				266
Secured by nonfarm, nonresidential properties			426				13,061				—
Other real estate secured			1,904				1,984				—
Other loans secured by real estate:
Secured by 1-4 family residential properties			1,533				31,583				3,253
Commercial and industrial loans			16				24,525				—
Consumer loans			—				236				414
Other commercial loans and leases			—				1,079				—
Total		$	4,400			$	80,109			$	4,092

Aging Analysis of Past Due and Nonaccrual LHFI by Loan Type

The following tables provide an aging analysis of the amortized cost basis of past due LHFI (including nonaccrual LHFI) at June 30, 2025 and December 31, 2024 ($ in thousands):


		June 30, 2025
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total LHFI
Loans secured by real estate:
Construction, land development and other land		$	888			$	30			$	105			$	1,023			$	559,890			$	560,913
Other secured by 1-4 family residential properties			5,515				3,025				2,991				11,531				677,558				689,089
Secured by nonfarm, nonresidential properties			732				105				3,029				3,866				3,475,066				3,478,932
Other real estate secured			221				64				298				583				1,917,758				1,918,341
Other loans secured by real estate:
Other construction			—				—				—				—				794,310				794,310
Secured by 1-4 family residential properties			17,853				6,654				28,671				53,178				2,315,095				2,368,273
Commercial and industrial loans			1,146				317				19,944				21,407				1,810,888				1,832,295
Consumer loans			1,202				486				397				2,085				150,836				152,921
State and other political subdivision loans			—				—				—				—				961,251				961,251
Other commercial loans and leases			90				19				—				109				708,346				708,455
Total		$	27,647			$	10,700			$	55,435			$	93,782			$	13,370,998			$	13,464,780


		December 31, 2024
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total LHFI
Loans secured by real estate:
Construction, land development and other land		$	199			$	—			$	324			$	523			$	586,721			$	587,244
Other secured by 1-4 family residential properties			5,656				1,821				3,223				10,700				639,850				650,550
Secured by nonfarm, nonresidential properties			1,488				380				3,111				4,979				3,528,303				3,533,282
Other real estate secured			1,979				—				28				2,007				1,631,823				1,633,830
Other loans secured by real estate:
Other construction			—				—				—				—				829,904				829,904
Secured by 1-4 family residential properties			17,898				7,111				21,524				46,533				2,252,460				2,298,993
Commercial and industrial loans			1,114				13,300				8,835				23,249				1,817,473				1,840,722
Consumer loans			1,930				600				414				2,944				153,625				156,569
State and other political subdivision loans			24				—				—				24				969,812				969,836
Other commercial loans and leases			168				67				69				304				588,708				589,012
Total		$	30,456			$	23,279			$	37,528			$	91,263			$	12,998,679			$	13,089,942

Impact of Modifications Classified as Troubled Debt Restructurings

The following tables present the amortized cost of LHFI of loans modified to borrowers experiencing financial difficulty disaggregated by class of loan and type of modification at the end of each of the periods presented ($ in thousands). The percentage of the amortized cost basis of LHFI that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of LHFI is also presented below:


		Three Months Ended June 30, 2025
		Payment Delay				Term Extension				Total				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	—			$	873			$	873				0.13	%
Other real estate secured			—				14,744				14,744				0.77	%
Other loans secured by real estate:
Secured by 1-4 family residential properties			—				3,643				3,643				0.15	%
Commercial and industrial loans			570				—				570				0.03	%
Total		$	570			$	19,260			$	19,830				0.15	%


		Three Months Ended June 30, 2024
		Term Extension				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	493				0.08	%
Total		$	493				0.00	%


		Six Months Ended June 30, 2025
		Payment Delay				Term Extension				Total				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	—			$	1,616			$	1,616				0.23	%
Other real estate secured			—				14,744				14,744				0.77	%
Other loans secured by real estate:
Secured by 1-4 family residential properties			—				5,751				5,751				0.24	%
Commercial and industrial loans			12,847				—				12,847				0.70	%
Total		$	12,847			$	22,111			$	34,958				0.26	%


		Six Months Ended June 30, 2024
		Term Extension				% of Total Class of Loan
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	1,891				0.29	%
Total		$	1,891				0.01	%

Troubled debt restructurings on financial effect

The following tables detail the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the periods presented:


		Three Months Ended June 30, 2025
		Financial Effect
		Payment Delay		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties				Modified one loan and thirteen lines of credit to amortize over twenty-four month terms
Other real estate secured				Extended maturity of one loan by twelve months
Other loans secured by real estate:
Secured by 1-4 family residential properties				Re-amortized twenty-one loans with term adjusted by weighted average of forty-four months
Commercial and industrial loans		Three interest-only payments on four loans


		Three Months Ended June 30, 2024
		Financial Effect
		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified two loans and lines of credit to amortize over 24 month terms


		Six Months Ended June 30, 2025
		Financial Effect
		Payment Delay		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties				Modified two loans and twenty-four lines of credit to amortize over a twenty-four month term
Other real estate secured				Extended maturity of one loan by twelve months
Other loans secured by real estate:
Secured by 1-4 family residential properties				Re-amortized thirty-three loans with term adjusted by weighted-average of thirty-eight months
Commercial and industrial loans		One loan with eight monthly interest payments deferred and four loans with three interest-only monthly payments


		Six Months Ended June 30, 2024
		Financial Effect
		Term Extension
Loans secured by real estate:
Other secured by 1-4 family residential properties		Modified three loans and lines of credit to amortize over 24 month terms.

Past Due Modifications Related To Loans Held For Investment

The following tables provide details of the performance of such LHFI that have been modified in the preceding twelve months as of June 30, 2025 and 2024 ($ in thousands):


		June 30, 2025
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	128			$	644			$	—			$	772			$	2,360			$	3,132
Other real estate secured			—				—				—				—				14,744			$	14,744
Other loans secured by real estate:
Secured by 1-4 family residential properties			642				—				—				642				5,233				5,875
Commercial and industrial loans			—				—				18,372				18,372				570				18,942
Total		$	770			$	644			$	18,372			$	19,786			$	22,907			$	42,693


		June 30, 2024
		Past Due
		30-59 Days				60-89 Days				90 Days or More				Total Past Due				Current Loans				Total
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	540			$	—			$	—			$	540			$	1,351			$	1,891

Schedule Of Amortized Cost Basis Of Collateral Dependent Loans by Class of Loans

The following tables present the amortized cost basis of collateral-dependent loans by class of loans and collateral type as of June 30, 2025 and December 31, 2024 ($ in thousands):


		June 30, 2025
		Real Estate				Vehicles				Miscellaneous				Total
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	481			$	—			$	—			$	481
Secured by nonfarm, nonresidential properties			426				—				—				426
Other real estate secured			14,978				—				—				14,978
Other loans secured by real estate:
Secured by 1-4 family residential properties			1,503				—				—				1,503
Commercial and industrial loans			—				1,971				19,377				21,348
Other commercial loans and leases			—				—				764				764
Total		$	17,388			$	1,971			$	20,141			$	39,500


		December 31, 2024
		Real Estate				Vehicles				Miscellaneous				Total
Loans secured by real estate:
Other secured by 1-4 family residential properties		$	521			$	—			$	—			$	521
Secured by nonfarm, nonresidential properties			9,783				—				—				9,783
Other real estate secured			1,904				—				—				1,904
Other loans secured by real estate:
Secured by 1-4 family residential properties			1,533				—				—				1,533
Commercial and industrial loans			—				1,818				20,685				22,503
Other commercial loans and leases			—				—				896				896
Total		$	13,741			$	1,818			$	21,581			$	37,140

Carrying Amount of Loans by Credit Quality Indicator

The tables below present the amortized cost basis of loans by credit quality indicator and class of loans based on analyses performed at June 30, 2025 and December 31, 2024 ($ in thousands):


		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of June 30, 2025		Commercial LHFI
Loans secured by real estate:
Construction, land development and other land:
Pass - RR 1 through RR 6		$	165,715			$	196,937			$	36,550			$	25,622			$	16,326			$	7,018			$	46,605			$	494,773
Special Mention - RR 7			—				—				—				3,115				—				—				—				3,115
Substandard - RR 8			824				1,538				—				749				87				—				167				3,365
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			166,539				198,475				36,550				29,486				16,413				7,018				46,772				501,253
Current period gross charge-offs			—				—				—				—				—				—				—				—

Other secured by 1-4 family residential properties:
Pass - RR 1 through RR 6		$	23,706			$	27,709			$	21,090			$	20,705			$	21,758			$	9,719			$	8,812			$	133,499
Special Mention - RR 7			—				26				—				—				23				—				—				49
Substandard - RR 8			128				130				642				1,131				542				338				22				2,933
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			23,834				27,865				21,732				21,836				22,323				10,057				8,834				136,481
Current period gross charge-offs			—				—				—				—				—				—				—				—

Secured by nonfarm, nonresidential properties:
Pass - RR 1 through RR 6		$	348,760			$	444,860			$	433,096			$	803,777			$	397,113			$	685,602			$	148,351			$	3,261,559
Special Mention - RR 7			17,343				23,412				—				43,488				6,038				1,155				778				92,214
Substandard - RR 8			6,612				2,904				1,210				44,006				34,134				36,248				38				125,152
Doubtful - RR 9			3				—				—				—				—				4				—				7
Total			372,718				471,176				434,306				891,271				437,285				723,009				149,167				3,478,932
Current period gross charge-offs			—				—				—				—				—				(2,005	)			—				(2,005	)

Other real estate secured:
Pass - RR 1 through RR 6		$	159,377			$	93,323			$	292,157			$	810,477			$	230,947			$	120,494			$	17,372			$	1,724,147
Special Mention - RR 7			10,596				—				21,500				—				—				—				11				32,107
Substandard - RR 8			2				14,571				22,180				51,844				27,796				44,863				186				161,442
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			169,975				107,894				335,837				862,321				258,743				165,357				17,569				1,917,696
Current period gross charge-offs			—				—				—				—				—				—				—				—


		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of June 30, 2025		Commercial LHFI
Other loans secured by real estate:
Other construction:
Pass - RR 1 through RR 6		$	39,096			$	215,417			$	398,533			$	89,820			$	—			$	—			$	28,503			$	771,369
Special Mention - RR 7			—				—				5,121				—				—				—				—				5,121
Substandard - RR 8			—				—				—				17,820				—				—				—				17,820
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			39,096				215,417				403,654				107,640				—				—				28,503				794,310
Current period gross charge-offs			—				—				—				—				—				—				—				—

Commercial and industrial loans:
Pass - RR 1 through RR 6		$	350,258			$	367,355			$	291,524			$	156,844			$	66,457			$	40,575			$	494,288			$	1,767,301
Special Mention - RR 7			—				257				3,685				11,315				14				—				12,219				27,490
Substandard - RR 8			967				2,095				951				9,834				3,512				12,854				7,134				37,347
Doubtful - RR 9			—				51				20				9				—				2				75				157
Total			351,225				369,758				296,180				178,002				69,983				53,431				513,716				1,832,295
Current period gross charge-offs			—				(330	)			(610	)			(558	)			(214	)			(455	)			(263	)			(2,430	)

State and other political subdivision loans:
Pass - RR 1 through RR 6		$	52,497			$	136,932			$	78,121			$	208,961			$	124,068			$	353,150			$	7,522			$	961,251
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			—				—				—				—				—				—				—				—
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			52,497				136,932				78,121				208,961				124,068				353,150				7,522				961,251
Current period gross charge-offs			—				—				—				—				—				—				—				—

Other commercial loans and leases:
Pass - RR 1 through RR 6		$	98,587			$	158,850			$	134,105			$	5,319			$	5,778			$	56,311			$	242,443			$	701,393
Special Mention - RR 7			—				438				394				—				—				—				—				832
Substandard - RR 8			18				1,979				2,128				362				515				296				928				6,226
Doubtful - RR 9			—				4				—				—				—				—				—				4
Total			98,605				161,271				136,627				5,681				6,293				56,607				243,371				708,455
Current period gross charge-offs			—				(54	)			—				(30	)			—				—				—				(84	)

Total commercial LHFI		$	1,274,489			$	1,688,788			$	1,743,007			$	2,305,198			$	935,108			$	1,368,629			$	1,015,454			$	10,330,673
Total commercial LHFI gross charge-offs		$	—			$	(384	)		$	(610	)		$	(588	)		$	(214	)		$	(2,460	)		$	(263	)		$	(4,519	)


		Term Loans by Origination Year
		2025				2024				2023				2022				2021				Prior				Revolving Loans				Total
As of June 30, 2025		Consumer LHFI
Loans secured by real estate:
Construction, land development and other land:
Current		$	13,451			$	26,547			$	12,853			$	3,117			$	1,361			$	2,109			$	—			$	59,438
Past due 30-89 days			—				—				50				—				—				42				—				92
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				30				19				62				19				—				130
Total			13,451				26,547				12,933				3,136				1,423				2,170				—				59,660
Current period gross charge-offs			—				—				—				—				—				—				—				—

Other secured by 1-4 family residential properties:
Current		$	13,757			$	21,103			$	16,158			$	5,892			$	4,896			$	10,517			$	467,922			$	540,245
Past due 30-89 days			—				193				8				33				2				611				4,284				5,131
Past due 90 days or more			—				—				—				—				—				—				303				303
Nonaccrual			22				39				11				62				91				715				5,989				6,929
Total			13,779				21,335				16,177				5,987				4,989				11,843				478,498				552,608
Current period gross charge-offs			—				(5	)			—				(41	)			—				(2	)			(259	)			(307	)

Other real estate secured:
Current		$	338			$	223			$	—			$	—			$	—			$	84			$	—			$	645
Past due 30-89 days			—				—				—				—				—				—				—				—
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				—				—				—				—				—				—
Total			338				223				—				—				—				84				—				645
Current period gross charge-offs			—				—				—				—				—				—				—				—

Other loans secured by real estate:
Secured by 1-4 family residential properties
Current		$	176,599			$	280,549			$	209,477			$	764,662			$	434,865			$	431,490			$	—			$	2,297,642
Past due 30-89 days			7				589				5,559				7,958				3,873				3,520				—				21,506
Past due 90 days or more			—				7				992				1,074				650				458				—				3,181
Nonaccrual			—				291				6,544				24,905				7,758				6,446				—				45,944
Total			176,606				281,436				222,572				798,599				447,146				441,914				—				2,368,273
Current period gross charge-offs			—				—				(297	)			(564	)			(53	)			(16	)			—				(930	)

Consumer loans:
Current		$	31,111			$	37,860			$	14,745			$	10,059			$	3,373			$	512			$	52,860			$	150,520
Past due 30-89 days			426				126				150				30				—				—				949				1,681
Past due 90 days or more			48				29				14				2				—				—				277				370
Nonaccrual			—				47				175				50				53				5				20				350
Total			31,585				38,062				15,084				10,141				3,426				517				54,106				152,921
Current period gross charge-offs			(2,132	)			(310	)			(325	)			(93	)			(5	)			(26	)			(1,434	)			(4,325	)

Total consumer LHFI		$	235,759			$	367,603			$	266,766			$	817,863			$	456,984			$	456,528			$	532,604			$	3,134,107
Total consumer LHFI gross charge-offs		$	(2,132	)		$	(315	)		$	(622	)		$	(698	)		$	(58	)		$	(44	)		$	(1,693	)		$	(5,562	)

Total LHFI		$	1,510,248			$	2,056,391			$	2,009,773			$	3,123,061			$	1,392,092			$	1,825,157			$	1,548,058			$	13,464,780
Total current period gross charge-offs		$	(2,132	)		$	(699	)		$	(1,232	)		$	(1,286	)		$	(272	)		$	(2,504	)		$	(1,956	)		$	(10,081	)


		Term Loans by Origination Year
		2024				2023				2022				2021				2020				Prior				Revolving Loans				Total
As of December 31, 2024		Commercial LHFI
Loans secured by real estate:
Construction, land development and other land:
Pass - RR 1 through RR 6		$	324,775			$	83,503			$	33,580			$	23,124			$	8,145			$	1,587			$	42,469			$	517,183
Special Mention - RR 7			2,165				—				—				—				—				—				2,002				4,167
Substandard - RR 8			17				62				226				983				—				—				176				1,464
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			326,957				83,565				33,806				24,107				8,145				1,587				44,647				522,814
Current period gross charge-offs			—				—				—				—				—				(24	)			—				(24	)

Other secured by 1-4 family residential properties:
Pass - RR 1 through RR 6		$	31,013			$	24,339			$	22,693			$	24,090			$	11,635			$	2,106			$	7,742			$	123,618
Special Mention - RR 7			27				—				—				32				—				—				—				59
Substandard - RR 8			125				375				555				328				—				191				27				1,601
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			31,165				24,714				23,248				24,450				11,635				2,297				7,769				125,278
Current period gross charge-offs			—				—				—				—				—				(16	)			—				(16	)

Secured by nonfarm, nonresidential properties:
Pass - RR 1 through RR 6		$	542,747			$	441,159			$	880,511			$	429,929			$	464,504			$	392,802			$	127,812			$	3,279,464
Special Mention - RR 7			16,266				—				52,093				—				17,978				3,335				—				89,672
Substandard - RR 8			10,007				7,321				41,686				37,915				25,601				41,598				—				164,128
Doubtful - RR 9			11				—				—				—				—				7				—				18
Total			569,031				448,480				974,290				467,844				508,083				437,742				127,812				3,533,282
Current period gross charge-offs			—				—				—				(2,529	)			—				(16	)			—				(2,545	)

Other real estate secured:
Pass - RR 1 through RR 6		$	152,314			$	157,827			$	726,814			$	233,861			$	137,786			$	43,478			$	7,434			$	1,459,514
Special Mention - RR 7			—				7,450				15,481				41,019				—				—				263				64,213
Substandard - RR 8			14,610				—				26,685				42,636				252				25,419				244				109,846
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			166,924				165,277				768,980				317,516				138,038				68,897				7,941				1,633,573
Current period gross charge-offs			—				—				(89	)			—				—				—				—				(89	)


		Term Loans by Origination Year
		2024				2023				2022				2021				2020				Prior				Revolving Loans				Total
As of December 31, 2024		Commercial LHFI
Other loans secured by real estate:
Other construction
Pass - RR 1 through RR 6		$	115,221			$	410,064			$	201,526			$	20,647			$	—			$	—			$	18,400			$	765,858
Special Mention - RR 7			—				2,250				24,557				—				—				—				—				26,807
Substandard - RR 8			—				—				17,820				—				19,419				—				—				37,239
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			115,221				412,314				243,903				20,647				19,419				—				18,400				829,904
Current period gross charge-offs			—				(14	)			(2,493	)			—				—				—				—				(2,507	)

Commercial and industrial loans:
Pass - RR 1 through RR 6		$	505,557			$	365,724			$	231,875			$	98,318			$	45,551			$	27,456			$	462,740			$	1,737,221
Special Mention - RR 7			—				564				14,066				15				—				—				13,836				28,481
Substandard - RR 8			7,204				1,113				39,698				5,091				891				12,905				7,598				74,500
Doubtful - RR 9			227				—				35				145				1				2				110				520
Total			512,988				367,401				285,674				103,569				46,443				40,363				484,284				1,840,722
Current period gross charge-offs			(341	)			(1,211	)			(640	)			(3,251	)			(158	)			(3,132	)			(315	)			(9,048	)

State and other political subdivision loans:
Pass - RR 1 through RR 6		$	156,130			$	82,532			$	212,528			$	135,251			$	78,543			$	302,709			$	2,143			$	969,836
Special Mention - RR 7			—				—				—				—				—				—				—				—
Substandard - RR 8			—				—				—				—				—				—				—				—
Doubtful - RR 9			—				—				—				—				—				—				—				—
Total			156,130				82,532				212,528				135,251				78,543				302,709				2,143				969,836
Current period gross charge-offs			—				—				—				—				—				—				—				—

Other commercial loans and leases:
Pass - RR 1 through RR 6		$	157,619			$	148,099			$	7,371			$	9,800			$	15,606			$	45,227			$	203,345			$	587,067
Special Mention - RR 7			—				—				116				48				—				—				—				164
Substandard - RR 8			55				682				116				12				—				—				901				1,766
Doubtful - RR 9			9				—				6				—				—				—				—				15
Total			157,683				148,781				7,609				9,860				15,606				45,227				204,246				589,012
Current period gross charge-offs			(25	)			—				(38	)			—				—				(32	)			—				(95	)

Total commercial LHFI		$	2,036,099			$	1,733,064			$	2,550,038			$	1,103,244			$	825,912			$	898,822			$	897,242			$	10,044,421
Total commercial LHFI gross charge-offs		$	(366	)		$	(1,225	)		$	(3,260	)		$	(5,780	)		$	(158	)		$	(3,220	)		$	(315	)		$	(14,324	)


		Term Loans by Origination Year
		2024				2023				2022				2021				2020				Prior				Revolving Loans				Total
As of December 31, 2024		Consumer LHFI
Loans secured by real estate:
Construction, land development and other land:
Current		$	31,478			$	22,752			$	4,302			$	2,762			$	930			$	1,804			$	—			$	64,028
Past due 30-89 days			—				47				11				—				—				106				—				164
Past due 90 days or more			91				—				—				68				—				—				—				159
Nonaccrual			—				31				21				4				—				23				—				79
Total			31,569				22,830				4,334				2,834				930				1,933				—				64,430
Current period gross charge-offs			—				—				—				—				—				(8	)			—				(8	)

Other secured by 1-4 family residential properties:
Current		$	24,756			$	17,202			$	6,733			$	5,260			$	3,651			$	9,563			$	445,598			$	512,763
Past due 30-89 days			569				38				67				66				3				579				4,524				5,846
Past due 90 days or more			21				—				8				—				—				17				219				265
Nonaccrual			71				5				69				44				103				593				5,513				6,398
Total			25,417				17,245				6,877				5,370				3,757				10,752				455,854				525,272
Current period gross charge-offs			(29	)			(87	)			(233	)			(40	)			(31	)			(76	)			—				(496	)

Other real estate secured:
Current		$	161			$	—			$	—			$	—			$	68			$	28			$	—			$	257
Past due 30-89 days			—				—				—				—				—				—				—				—
Past due 90 days or more			—				—				—				—				—				—				—				—
Nonaccrual			—				—				—				—				—				—				—				—
Total			161				—				—				—				68				28				—				257
Current period gross charge-offs			—				—				—				—				—				—				—				—

Other loans secured by real estate:
Secured by 1-4 family residential properties
Current		$	274,500			$	224,266			$	808,527			$	459,191			$	161,856			$	314,906			$	—			$	2,243,246
Past due 30-89 days			169				4,405				9,883				4,082				814				1,558				—				20,911
Past due 90 days or more			4				1,263				1,098				461				170				257				—				3,253
Nonaccrual			568				3,744				17,306				5,009				1,394				3,562				—				31,583
Total			275,241				233,678				836,814				468,743				164,234				320,283				—				2,298,993
Current period gross charge-offs			—				(228	)			(9,910	)			(143	)			(6	)			(17	)			—				(10,304	)

Consumer loans:
Current		$	55,908			$	22,226			$	12,922			$	4,654			$	1,188			$	105			$	56,423			$	153,426
Past due 30-89 days			844				396				323				4				—				13				913				2,493
Past due 90 days or more			38				67				17				4				—				—				288				414
Nonaccrual			25				49				63				61				19				—				19				236
Total			56,815				22,738				13,325				4,723				1,207				118				57,643				156,569
Current period gross charge-offs			(5,929	)			(785	)			(470	)			(131	)			(100	)			(337	)			(2,065	)			(9,817	)

Total consumer LHFI		$	389,203			$	296,491			$	861,350			$	481,670			$	170,196			$	333,114			$	513,497			$	3,045,521
Total consumer LHFI gross charge-offs		$	(5,958	)		$	(1,100	)		$	(10,613	)		$	(314	)		$	(137	)		$	(438	)		$	(2,065	)		$	(20,625	)

Total LHFI		$	2,425,302			$	2,029,555			$	3,411,388			$	1,584,914			$	996,108			$	1,231,936			$	1,410,739			$	13,089,942
Total current period gross charge-offs		$	(6,324	)		$	(2,325	)		$	(13,873	)		$	(6,094	)		$	(295	)		$	(3,658	)		$	(2,380	)		$	(34,949	)

Summary of Trustmark's Portfolio Segments, Loan Classes, Loan Pools and the ACL Methodology and Loss Drivers

The following table provides a description of each of Trustmark’s portfolio segments, loan classes, loan pools and the ACL methodology and loss drivers at June 30, 2025 and December 31, 2024:


Portfolio Segment		Loan Class		Loan Pool		Methodology		Loss Drivers
Loans secured by real estate		Construction, land development and other land		1-4 family residential construction		DCF		BBB 7-10 US CBI (1), National Unemployment
				Lots and development		DCF		National HPI, National Unemployment
				Unimproved land		DCF		National HPI, National Unemployment
				All other consumer		DCF		National HPI, National Unemployment
		Other secured by 1-4 family residential properties		Consumer 1-4 family - 1st liens		DCF		National HPI, Southern Unemployment (2)
				All other consumer		DCF		National HPI, National Unemployment
				Nonresidential owner-occupied		DCF		Southern Unemployment, National CRE Price Index
		Secured by nonfarm, nonresidential properties		Nonowner-occupied - hotel/motel		DCF		National CRE Price Index, Southern Unemployment
				Nonowner-occupied - office		DCF		National CRE Price Index, Southern Unemployment
				Nonowner-occupied- Retail		DCF		National CRE Price Index, Southern Unemployment
				Nonowner-occupied - senior living/nursing homes		DCF		National CRE Price Index, Southern Unemployment
				Nonowner-occupied - all other		DCF		National CRE Price Index, Southern Unemployment
				Nonresidential owner-occupied		DCF		Southern Unemployment, National CRE Price Index
		Other real estate secured		Nonresidential nonowner -occupied - apartments		DCF		National CRE Price Index, Southern Unemployment
				Nonresidential owner-occupied		DCF		Southern Unemployment, National CRE Price Index
				Nonowner-occupied - all other		DCF		National CRE Price Index, Southern Unemployment
Other loans secured by real estate		Other construction		Other construction		DCF		National CRE Price Index, National Unemployment, BBB 7-10 US CBI
		Secured by 1-4 family residential properties		Trustmark mortgage		WARM		Southern Unemployment
Commercial and industrial loans		Commercial and industrial loans		Commercial and industrial - non-working capital		DCF		Trustmark historical data
				Commercial and industrial - working capital		DCF		Trustmark historical data
				Equipment finance loans		WARM		Southern Unemployment, National GDP
				Credit cards		WARM		Trustmark call report data
Consumer loans		Consumer loans		Credit cards		WARM		Trustmark call report data
				Overdrafts		Loss Rate		Trustmark historical data
				All other consumer		DCF		National HPI, National Unemployment
State and other political subdivision loans		State and other political subdivision loans		Obligations of state and political subdivisions		DCF		Moody's Bond Default Study
Other commercial loans and leases		Other commercial loans and leases		Other loans		DCF		BBB 7-10 US CBI, Southern Unemployment
				Commercial and industrial - non-working capital		DCF		Trustmark historical data
				Commercial and industrial - working capital		DCF		Trustmark historical data
				Equipment finance leases		WARM		Southern Unemployment, National GDP

(1) Loss driver was National HPI at December 31, 2024.

(2) Loss driver was National Unemployement at December 31, 2024.

Change in Allowance for Loan Losses

The following tables disaggregate the ACL and the amortized cost basis of the loans by the measurement methodology used at June 30, 2025 and December 31, 2024 ($ in thousands):


		June 30, 2025
		ACL												LHFI
		Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total				Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total
Loans secured by real estate:
Construction, land development and other land		$	—			$	7,349			$	7,349			$	—				560,913			$	560,913
Other secured by 1-4 family residential properties			—				12,665				12,665				481				688,608				689,089
Secured by nonfarm, nonresidential properties			141				34,876				35,017				426				3,478,506				3,478,932
Other real estate secured			—				23,505				23,505				14,978				1,903,363				1,918,341
Other loans secured by real estate:
Other construction			—				8,142				8,142				—				794,310				794,310
Secured by 1-4 family residential properties			—				38,985				38,985				1,503				2,366,770				2,368,273
Commercial and industrial loans			12,685				15,780				28,465				21,348				1,810,947				1,832,295
Consumer loans			—				5,111				5,111				—				152,921				152,921
State and other political subdivision loans			—				1,547				1,547				—				961,251				961,251
Other commercial loans and leases			764				6,687				7,451				764				707,691				708,455
Total		$	13,590			$	154,647			$	168,237			$	39,500			$	13,425,280			$	13,464,780


		December 31, 2024
		ACL												LHFI
		Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total				Individually Evaluated for Credit Loss				Collectively Evaluated for Credit Loss				Total
Loans secured by real estate:
Construction, land development and other land		$	—			$	6,452			$	6,452			$	—			$	587,244			$	587,244
Other secured by 1-4 family residential properties			—				11,347				11,347				521				650,029				650,550
Secured by nonfarm, nonresidential properties			2,251				35,645				37,896				9,783				3,523,499				3,533,282
Other real estate secured			—				19,491				19,491				1,904				1,631,926				1,633,830
Other loans secured by real estate:
Other construction			—				13,297				13,297				—				829,904				829,904
Secured by 1-4 family residential properties			—				32,129				32,129				1,533				2,297,460				2,298,993
Commercial and industrial loans			10,518				16,502				27,020				22,503				1,818,219				1,840,722
Consumer loans			—				5,141				5,141				—				156,569				156,569
State and other political subdivision loans			—				1,250				1,250				—				969,836				969,836
Other commercial loans and leases			892				5,355				6,247				896				588,116				589,012
Total		$	13,661			$	146,609			$	160,270			$	37,140			$	13,052,802			$	13,089,942

Changes in the ACL, LHFI were as follows for the periods presented ($ in thousands):


		Three Months Ended June 30,								Six Months Ended June 30,
		2025				2024				2025				2024
Balance at beginning of period		$	167,010			$	142,998			$	160,270			$	139,367
Loans charged-off, sale of 1-4 family mortgage loans			—				(8,633	)			—				(8,633	)
Loans charged-off			(6,380	)			(5,120	)			(10,081	)			(11,444	)
Recoveries			2,261				2,111				4,577				4,358
Net (charge-offs) recoveries			(4,119	)			(11,642	)			(5,504	)			(15,719	)
PCL, LHFI			5,346				14,696				13,471				22,404
PCL, LHFI sale of 1-4 family mortgage loans			—				8,633				—				8,633
Balance at end of period		$	168,237			$	154,685			$	168,237			$	154,685

The following tables detail changes in the ACL, LHFI by loan class for the periods presented ($ in thousands):


		Three Months Ended June 30, 2025
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	6,982			$	—			$	194			$	173			$	7,349
Other secured by 1-4 family residential properties			12,476				(139	)			123				205				12,665
Secured by nonfarm, nonresidential properties			39,973				(2,005	)			—				(2,951	)			35,017
Other real estate secured			23,348				—				—				157				23,505
Other loans secured by real estate:
Other construction			9,860				—				1				(1,719	)			8,142
Secured by 1-4 family residential properties			35,602				(550	)			160				3,773				38,985
Commercial and industrial loans			25,396				(1,549	)			264				4,354				28,465
Consumer loans			5,238				(2,121	)			1,458				536				5,111
State and other political subdivision loans			1,605				—				—				(58	)			1,547
Other commercial loans and leases			6,530				(16	)			61				876				7,451
Total		$	167,010			$	(6,380	)		$	2,261			$	5,346			$	168,237


		Three Months Ended June 30, 2024
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	5,743			$	—			$	7			$	(649	)		$	5,101
Other secured by 1-4 family residential properties			10,554				(104	)			63				(140	)			10,373
Secured by nonfarm, nonresidential properties			33,292				—				17				7,827				41,136
Other real estate secured			9,251				—				—				2,786				12,037
Other loans secured by real estate:
Other construction			12,065				(2,494	)			255				4,071				13,897
Secured by 1-4 family residential properties			31,946				(8,780	)			27				7,454				30,647
Commercial and industrial loans			27,930				(191	)			272				724				28,735
Consumer loans			5,523				(2,184	)			1,447				859				5,645
State and other political subdivision loans			638				—				—				(13	)			625
Other commercial loans and leases			6,056				—				23				410				6,489
Total		$	142,998			$	(13,753	)		$	2,111			$	23,329			$	154,685


		Six Months Ended June 30, 2025
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	6,452			$	—			$	196			$	701			$	7,349
Other secured by 1-4 family residential properties			11,347				(307	)			222				1,403				12,665
Secured by nonfarm, nonresidential properties			37,896				(2,005	)			—				(874	)			35,017
Other real estate secured			19,491				—				77				3,937				23,505
Other loans secured by real estate:
Other construction			13,297				—				3				(5,158	)			8,142
Secured by 1-4 family residential properties			32,129				(930	)			441				7,345				38,985
Commercial and industrial loans			27,020				(2,430	)			499				3,376				28,465
Consumer loans			5,141				(4,325	)			3,046				1,249				5,111
State and other political subdivision loans			1,250				—				—				297				1,547
Other commercial loans and leases			6,247				(84	)			93				1,195				7,451
Total		$	160,270			$	(10,081	)		$	4,577			$	13,471			$	168,237


		Six Months Ended June 30, 2024
		Balance at Beginning of Period				Charge-offs				Recoveries				PCL				Balance at End of Period
Loans secured by real estate:
Construction, land development and other land		$	17,192			$	(24	)		$	8			$	(12,075	)		$	5,101
Other secured by 1-4 family residential properties			12,942				(180	)			513				(2,902	)			10,373
Secured by nonfarm, nonresidential properties			24,043				(2,428	)			26				19,495				41,136
Other real estate secured			4,488				—				—				7,549				12,037
Other loans secured by real estate:
Other construction			5,758				(2,494	)			272				10,361				13,897
Secured by 1-4 family residential properties			34,794				(9,191	)			65				4,979				30,647
Commercial and industrial loans			26,638				(775	)			470				2,402				28,735
Consumer loans			5,794				(4,932	)			2,952				1,831				5,645
State and other political subdivision loans			646				—				—				(21	)			625
Other commercial loans and leases			7,072				(53	)			52				(582	)			6,489
Total		$	139,367			$	(20,077	)		$	4,358			$	31,037			$	154,685