v3.26.1
Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Loans consisted of the following at the dates indicated (dollars in thousands):
June 30, 2026December 31, 2025
Amortized Cost
Percent of Total Loans
Amortized Cost
Percent of Total Loans
Commercial:
Non-owner occupied commercial real estate$6,327,275 26.4 %$6,105,207 25.2 %
Construction and land679,626 2.8 %705,664 2.9 %
Owner occupied commercial real estate2,039,523 8.5 %2,020,572 8.3 %
Commercial and industrial6,641,643 27.8 %7,008,903 28.8 %
Pinnacle - municipal finance636,945 2.7 %619,374 2.6 %
Franchise and equipment finance
71,740 0.3 %102,746 0.4 %
Mortgage warehouse lending 876,771 3.7 %728,241 3.0 %
17,273,523 72.2 %17,290,707 71.2 %
Residential:
1-4 single family residential5,807,912 24.3 %6,091,959 25.1 %
Government insured residential847,638 3.5 %891,041 3.7 %
6,655,550 27.8 %6,983,000 28.8 %
Total loans23,929,073 100.0 %24,273,707 100.0 %
Allowance for credit losses(217,516)(219,825)
Loans, net$23,711,557 $24,053,882 
Allowance for Credit Losses on Financing Receivables
Activity in the ACL is summarized below for the periods indicated (in thousands):
Three Months Ended June 30,
20262025
CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$198,459 $10,331 $208,790 $204,180 $15,567 $219,747 
Provision (recovery)13,054 2,044 15,098 17,292 (1,598)15,694 
Charge-offs(10,390)— (10,390)(14,051)(208)(14,259)
Recoveries4,018 — 4,018 1,540 8 1,548 
Ending balance$205,141 $12,375 $217,516 $208,961 $13,769 $222,730 
Six Months Ended June 30,
20262025
CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$208,412 $11,413 $219,825 $211,203 $11,950 $223,153 
Provision (recovery)39,238 962 40,200 29,638 2,019 31,657 
Charge-offs(47,186)— (47,186)(36,808)(208)(37,016)
Recoveries4,677 — 4,677 4,928 8 4,936 
Ending balance$205,141 $12,375 $217,516 $208,961 $13,769 $222,730 
The following table presents the components of the provision for credit losses for the periods indicated (in thousands):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Amount related to funded portion of loans$15,098 $15,694 $40,200 $31,657 
Amount related to off-balance sheet credit exposures461 4 (55)(848)
Total provision for credit losses$15,559 $15,698 $40,145 $30,809 
Financing Receivable, Gross Charge-Offs by Year of Origination
The following table presents gross charge-offs during the six months ended June 30, 2026 by year of origination (in thousands):
Gross Charge-offs By Loan Origination Year
20262025202420232022Prior to 2022Revolving LoansTotal
CRE$— $— $— $— $— $7,196 $— $7,196 
C&I289 302 25 16,531 15,400 268 7,175 39,990 
$289 $302 $25 $16,531 $15,400 $7,464 $7,175 $47,186 
Financing Receivable Credit Quality Indicators These borrowers may exhibit payment defaults, inadequate cash flows from current operations, operating losses, increasing balance sheet leverage, project cost overruns, unreasonable construction delays, exhausted interest reserves, declining collateral values, frequent overdrafts or past due real estate taxes. Loans with weaknesses so severe that collection in full is highly questionable or improbable, but because of certain reasonably specific pending factors have not been charged off, are assigned an internal risk rating of doubtful. 
Commercial credit exposure based on internal risk rating (in thousands):
June 30, 2026
Amortized Cost By Origination YearRevolving Loans
20262025202420232022PriorTotal
CRE
Pass$769,470 $1,976,292 $826,615 $637,621 $739,299 $1,492,308 $84,006 $6,525,611 
Special mention— — — 16,655 — 17,213 — 33,868 
Substandard395 — — 54,687 83,454 286,679 22,207 447,422 
Total CRE$769,865 $1,976,292 $826,615 $708,963 $822,753 $1,796,200 $106,213 $7,006,901 
C&I
Pass$758,744 $1,500,369 $950,695 $646,638 $612,512 $1,083,379 $2,554,756 $8,107,093 
Special mention— 9,520 57,099 24,182 16,366 5,174 28,989 141,330 
Substandard— 17,074 59,581 63,824 88,345 116,748 45,489 391,061 
Doubtful— — 3,072 7,521 3,013 15,134 12,942 41,682 
Total C&I$758,744 $1,526,963 $1,070,447 $742,165 $720,236 $1,220,435 $2,642,176 $8,681,166 
Pinnacle - municipal finance
Pass$77,412 $87,772 $31,661 $41,143 $60,037 $338,920 $— $636,945 
Total Pinnacle - municipal finance$77,412 $87,772 $31,661 $41,143 $60,037 $338,920 $— $636,945 
Franchise and equipment finance
Pass$— $— $— $1,653 $2,026 $64,062 $— $67,741 
Substandard— — — — — 3,999 — 3,999 
Total Franchise and equipment finance
$— $— $— $1,653 $2,026 $68,061 $— $71,740 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $876,771 $876,771 
Total Mortgage warehouse lending$— $— $— $— $— $— $876,771 $876,771 
December 31, 2025
Amortized Cost By Origination YearRevolving Loans
20252024202320222021PriorTotal
CRE
Pass$1,836,664 $870,799 $822,536 $826,480 $382,747 $1,286,442 $119,505 $6,145,173 
Special mention— — 16,422 21,436 12,154 32,135 — 82,147 
Substandard34,723 — — 87,201 105,074 356,553 — 583,551 
Total CRE$1,871,387 $870,799 $838,958 $935,117 $499,975 $1,675,130 $119,505 $6,810,871 
C&I
Pass$1,693,466 $1,159,621 $795,383 $674,292 $337,040 $1,001,431 $2,852,094 $8,513,327 
Special mention— 13,739 17,160 36,538 5,255 — 20,170 92,862 
Substandard1,167 24,280 65,788 90,484 20,650 104,078 68,592 375,039 
Doubtful— — 13,462 6,377 14,954 — 13,454 48,247 
Total C&I$1,694,633 $1,197,640 $891,793 $807,691 $377,899 $1,105,509 $2,954,310 $9,029,475 
Pinnacle - municipal finance
Pass$94,045 $37,328 $55,340 $63,653 $36,700 $332,308 $— $619,374 
Total Pinnacle - municipal finance$94,045 $37,328 $55,340 $63,653 $36,700 $332,308 $— $619,374 
Franchise and equipment finance
Pass$— $— $1,778 $3,125 $22,423 $58,739 $— $86,065 
Substandard— — — — — 16,681 — 16,681 
Total Franchise and equipment finance
$— $— $1,778 $3,125 $22,423 $75,420 $— $102,746 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $728,241 $728,241 
Total Mortgage warehouse lending$— $— $— $— $— $— $728,241 $728,241 
The following table presents criticized and classified commercial loans in aggregate by risk rating category at the dates indicated (in thousands):
June 30, 2026December 31, 2025
Special mention$175,198 $175,009 
Substandard - accruing686,274 674,368 
Substandard - non-accruing156,208 300,903 
Doubtful41,682 48,247 
Total $1,059,362 $1,198,527 
Factors that impact risk inherent in the residential portfolio segment include national and regional economic conditions such as levels of unemployment, wages and interest rates, as well as residential property values.
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on delinquency status (in thousands):
June 30, 2026
Amortized Cost By Origination Year
Days Past Due
20262025202420232022PriorTotal
Current $83,278 $250,408 $148,186 $175,667 $879,036 $4,205,607 $5,742,182 
30 - 59 Days Past Due1,159 — 1,157 4,524 2,441 30,630 39,911 
60 - 89 Days Past Due— — — 1,301 3,046 2,842 7,189 
90 Days or More Past Due— 159 1,599 1,104 1,256 14,512 18,630 
$84,437 $250,567 $150,942 $182,596 $885,779 $4,253,591 $5,807,912 
December 31, 2025
Amortized Cost By Origination Year
Days Past Due
20252024202320222021PriorTotal
Current $245,592 $197,279 $232,600 $920,112 $2,543,128 $1,883,061 $6,021,772 
30 - 59 Days Past Due2,445 72 884 7,390 17,045 20,263 48,099 
60 - 89 Days Past Due395 — — — 1,471 2,602 4,468 
90 Days or More Past Due159 2,016 72 975 5,380 9,018 17,620 
$248,591 $199,367 $233,556 $928,477 $2,567,024 $1,914,944 $6,091,959 
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on LTV (in thousands): 
June 30, 2026
Amortized Cost By Origination Year
LTV20262025202420232022PriorTotal
Less than 61%$14,878 $43,032 $17,757 $29,340 $204,534 $1,595,531 $1,905,072 
61% - 70% 27,546 43,190 19,480 19,484 228,047 1,110,409 1,448,156 
71% - 80%25,842 99,598 85,947 107,234 449,839 1,488,249 2,256,709 
More than 80%16,171 64,747 27,758 26,538 3,359 59,402 197,975 
$84,437 $250,567 $150,942 $182,596 $885,779 $4,253,591 $5,807,912 
December 31, 2025
Amortized Cost By Origination Year
LTV20252024202320222021PriorTotal
Less than 61%$42,822 $25,252 $41,263 $213,007 $1,035,507 $652,497 $2,010,348 
61% - 70% 43,662 24,753 28,681 241,588 715,135 454,229 1,508,048 
71% - 80% 102,327 116,351 133,730 470,437 785,474 775,835 2,384,154 
More than 80%59,780 33,011 29,882 3,445 30,908 32,383 189,409 
$248,591 $199,367 $233,556 $928,477 $2,567,024 $1,914,944 $6,091,959 
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on FICO score (in thousands):
June 30, 2026
Amortized Cost By Origination Year
FICO20262025202420232022PriorTotal
760 or greater$61,546 $179,436 $113,448 $127,363 $629,300 $3,276,812 $4,387,905 
720 - 75922,582 45,963 24,268 28,407 138,053 571,905 831,178 
719 or less or not available
309 25,168 13,226 26,826 118,426 404,874 588,829 
$84,437 $250,567 $150,942 $182,596 $885,779 $4,253,591 $5,807,912 
December 31, 2025
Amortized Cost By Origination Year
FICO20252024202320222021PriorTotal
760 or greater$178,910 $145,699 $167,837 $671,820 $2,058,226 $1,395,521 $4,618,013 
720 - 75954,894 35,812 37,624 144,931 324,779 287,334 885,374 
719 or less or not available
14,787 17,856 28,095 111,726 184,019 232,089 588,572 
$248,591 $199,367 $233,556 $928,477 $2,567,024 $1,914,944 $6,091,959 
Financing Receivable, Past Due
The following table presents an aging of loans at the dates indicated (in thousands):
June 30, 2026December 31, 2025
Current30 - 59
Days Past
Due		60 - 89
Days Past
Due		90 Days or
More Past
Due
Total Amortized Cost
Current30 - 59
Days Past
Due		60 - 89
Days Past
Due		90 Days or
More Past
Due
Total Amortized Cost
CRE$7,000,817 $— $— $6,084 $7,006,901 $6,768,897 $751 $14,867 $26,356 $6,810,871 
C&I8,593,333 23,846 8,828 55,159 8,681,166 8,893,254 6,136 48,711 81,374 9,029,475 
Pinnacle - municipal finance636,945 — — — 636,945 619,374 — — — 619,374 
Franchise and equipment finance
71,637 — 103 — 71,740 102,746 — — — 102,746 
Mortgage warehouse lending
876,771 — — — 876,771 728,241 — — — 728,241 
1-4 single family residential5,742,182 39,911 7,189 18,630 5,807,912 6,021,772 48,099 4,468 17,620 6,091,959 
Government insured residential564,046 78,601 29,614 175,377 847,638 604,334 101,672 25,926 159,109 891,041 
$23,485,731 $142,358 $45,734 $255,250 $23,929,073 $23,738,618 $156,658 $93,972 $284,459 $24,273,707 
Financing Receivable, Nonaccrual
The following table presents information about loans on non-accrual status at the dates indicated (in thousands):
June 30, 2026December 31, 2025
Amortized CostAmortized Cost With No Related AllowanceAmortized CostAmortized Cost With No Related Allowance
CRE$36,255 $3,731 $108,959 $74,976 
C&I160,599 35,638 238,267 88,112 
Franchise and equipment finance
1,036 1,036 2,516 2,516 
1-4 single family residential26,034 — 22,876 — 
$223,924 $40,405 $372,618 $165,604 
Schedule of Collateral Dependent Loans
The following table presents the amortized cost basis of collateral dependent loans at the dates indicated (in thousands):
June 30, 2026December 31, 2025
Amortized CostExtent to Which Secured by CollateralAmortized CostExtent to Which Secured by Collateral
CRE$36,239 $35,615 $112,494 $112,071 
C&I145,344 102,096 170,222 142,356 
Franchise and equipment finance 1,035 1,035 2,516 2,516 
$182,618 $138,746 $285,232 $256,943 
Financing Receivable, Troubled Debt Restructuring
The following tables summarize loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the periods indicated (dollars in thousands):
Three Months Ended June 30, 2026
Combination
Interest Rate ReductionTerm Extension
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Other (1)
Total
% Modified in Portfolio Segment
CRE$— $35,431 $— $— $29,922 $— $65,353 1 %
C&I— 6,235 — — 52,184 — 58,419 1 %
Franchise and equipment finance— 2,132 — — — 2,132 3 %
1-4 single family residential141 — — — — — 141 — %
Government insured residential— 8,685 4,603 — — — 13,288 2 %
$141 $52,483 $4,603 $— $82,106 $— $139,333 1 %
(1)Other modifications include loans that experienced a combination of Interest Rate Reduction, Term Extension and Other than Insignificant Payment Delays.
Six Months Ended June 30, 2026
Combination
Interest Rate ReductionTerm Extension
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Other (1)
Total
% Modified in Portfolio Segment
CRE$— $35,431 $— $— $29,922 $— $65,353 1 %
C&I118 6,235 — — 52,184 23,216 81,753 1 %
Franchise and equipment finance — 2,132 — — — 2,132 3 %
1-4 single family residential906 — — — — — 906 — %
Government insured residential— 11,344 4,603 — — — 15,947 2 %
$1,024 $55,142 $4,603 $— $82,106 $23,216 $166,091 1 %
(1)Other modifications include loans that experienced a combination of Interest Rate Reduction, Term Extension and Other than Insignificant Payment Delays.

Three Months Ended June 30, 2025
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment DelaysInterest Rate Reduction and Term ExtensionInterest Rate Reduction and Other than Insignificant Payment DelaysTerm Extension and Other than Insignificant Payment DelaysTotal% Modified in Portfolio Segment
CRE$— $91,833 $— $— $— $— $91,833 1 %
C&I— 10,451 29,816 — — — 40,267 — %
1-4 single family residential36 — — — — — 36 36 — %
Government insured residential— 12,713 — 7,145 — — 19,858 2 %
$36 $114,997 $29,816 $7,145 $— $— $151,994 1 %
Six Months Ended June 30, 2025
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Total
% Modified in Portfolio Segment
CRE$— $91,833 $— $— $8,912 $— $100,745 2 %
C&I— 10,451 50,395 — — 6,587 67,433 1 %
1-4 single family residential36 — — — — — 36 — %
Government insured residential— 17,653 — 8,668 — — 26,321 2 %
$36 $119,937 $50,395 $8,668 $8,912 $6,587 $194,535 1 %
The following tables summarize the financial effect of the modifications made to borrowers experiencing difficulty, during the periods indicated:
Three Months Ended June 30, 2026
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 6.9% to 6.4%.
Term Extension:
CRE
Added a weighted average 0.4 year to the term of the modified loans.
C&I
Added a weighted average 0.2 year to the term of the modified loans.
Franchise and equipment finance
Added a weighted average 1.5 years to the term of the modified loans.
Government insured residential
Added a weighted average 13.9 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.0% to 6.5% and added a weighted average 6.0 years to the term of the modified loans.
Combination - Term Extension and Other than Insignificant Payment Delays:
CRE
Added a weighted average 2.0 years to the term of the modified loans and provided 2.0 years of payment deferral.
C&I
Added a weighted average 1.4 years to the term of the modified loans and provided 2.0 years of payment deferral.
Six Months Ended June 30, 2026
Financial Effect
Interest Rate Reduction:
C&I
Reduced weighted average contractual interest rate from 11.3% to 9.8%
1-4 single family residential
Reduced weighted average contractual interest rate from 6.5% to 6.2%.
Term Extension:
CRE
Added a weighted average 0.4 years to the term of the modified loans.
C&I
Added a weighted average 0.3 years to the term of the modified loans.
Franchise and equipment finance
Added a weighted average 1.5 years to the term of the modified loans.
Government insured residential
Added a weighted average 13.9 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.0% to 6.5% and added a weighted average 6.0 years to the term of the modified loans.
Combination - Term Extension and Other than Insignificant Payment Delays:
CRE
Added a weighted average 4.0 years to the term of the modified loans and provided 2.0 years of payment deferral.
C&I
Added a weighted average 2.7 years to the term of the modified loans and provided 1.9 years of payment deferral.
Other:
C&I
Added a weighted average 1.9 years to the term of the modified loans, reduced weighted average contractual interest rate from 11.7% to 8.2%, and provided 3.8 years of payment deferral.
Three Months Ended June 30, 2025
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 8.3% to 7.0%.
Term Extension:
CRE
Added a weighted average 0.9 year to the term of the modified loans.
C&I
Added a weighted average 0.6 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.5 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 0.9 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.3% to 7.1% and added a weighted average 3.5 years to the term of the modified loans.
Six Months Ended June 30, 2025
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 8.3% to 7.0%.
Term Extension:
CRE
Added a weighted average 0.9 year to the term of the modified loans.
C&I
Added a weighted average 0.9 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.1 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 0.7 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.3% to 7.1% and added a weighted average 3.1 years to the term of the modified loans.
Combination - Interest Rate Reduction and Other than Insignificant Payment Delays:
CRE
Reduced weighted average contractual interest rate from 4.3% to 3.5% and provided 0.7 year of payment deferral.
Combination - Term Extension and Other than Insignificant Payment Delays:
C&I
Added a weighted average 0.6 year to the term of the modified loans and provided 1.3 years of payment deferral.
The following tables present the aging at the dates indicated, of loans that were modified within the previous 12 months (in thousands):
June 30, 2026
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$91,013 $— $— $— $91,013 
C&I75,491 2,000 — 4,263 81,754 
Franchise and equipment finance 2,132 — — — 2,132 
1-4 single family residential 906 86 — — 992 
Government insured residential 12,213 5,637 3,364 15,380 36,594 
$181,755 $7,723 $3,364 $19,643 $212,485 
June 30, 2025
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$163,759 $— $— $16,450 $180,209 
C&I94,846 2,148 — 826 97,820 
Franchise and equipment finance 1,455 — — — 1,455 
1-4 single family residential 36 169 — — 205 
Government insured residential 17,514 6,847 4,029 9,102 37,492 
$277,610 $9,164 $4,029 $26,378 $317,181 
Financing Receivable, Modified, Subsequent Default
The following tables summarize loans that were modified within the previous 12 months and defaulted during the periods indicated (in thousands):
Three Months Ended June 30,
20262025
Term ExtensionCombination - Interest Rate Reduction and Term ExtensionCombination - Term Extension and Other than Insignificant Payment DelaysTotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$— $— $4,263 $4,263 $— $826 $— $826 
Government insured residential1,763 2,117 — 3,880 2,685 — 2,529 5,214 
$1,763 $2,117 $4,263 $8,143 $2,685 $826 $2,529 $6,040 
Six Months Ended June 30,
20262025
Term ExtensionCombination - Interest Rate Reduction and Term Extension Combination - Term Extension and Other than Insignificant Payment Delays TotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$— $— 4,263 $4,263 $— $1,007 $— $1,007 
Government insured residential 7,532 5,827 — 13,359 5,859 — 3,901 9,760 
$7,532 $5,827 4,263 $17,622 $5,859 $1,007 $3,901 $10,767