v3.26.3
Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2026
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
Loans consisted of the following at the dates indicated (dollars in thousands):
September 30, 2026December 31, 2025
20262025
Amortized Cost
Percent of Total Loans
Amortized Cost
Percent of Total Loans
Commercial:
Non-owner occupied commercial real estate$6,445,359 27.2 %$6,105,207 25.2 %
Construction and land628,015 2.6 %705,664 2.9 %
Owner occupied commercial real estate2,114,989 8.9 %2,020,572 8.3 %
Commercial and industrial6,457,171 27.1 %7,008,903 28.8 %
Pinnacle - municipal finance592,293 2.5 %619,374 2.6 %
Franchise and equipment finance
59,342 0.2 %102,746 0.4 %
Mortgage warehouse lending 932,290 3.9 %728,241 3.0 %
17,229,459 72.4 %17,290,707 71.2 %
Residential:
1-4 single family residential5,774,390 24.2 %6,091,959 25.1 %
Government insured residential811,507 3.4 %891,041 3.7 %
6,585,897 27.6 %6,983,000 28.8 %
Total loans23,815,356 100.0 %24,273,707 100.0 %
Allowance for credit losses(221,476)(219,825)
Loans, net$23,593,880 $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 September 30,
20262025
CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$205,141 $12,375 $217,516 $208,961 $13,769 $222,730 
Provision (recovery)10,044 236 10,280 12,451 (600)11,851 
Charge-offs(7,079)— (7,079)(15,773)— (15,773)
Recoveries759 — 759 1,073 3 1,076 
Ending balance$208,865 $12,611 $221,476 $206,712 $13,172 $219,884 
Nine Months Ended September 30,
20262025
CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$208,412 $11,413 $219,825 $211,203 $11,950 $223,153 
Provision49,282 1,198 50,480 42,089 1,419 43,508 
Charge-offs(54,265)— (54,265)(52,581)(208)(52,789)
Recoveries5,436 — 5,436 6,001 11 6,012 
Ending balance$208,865 $12,611 $221,476 $206,712 $13,172 $219,884 
The following table presents the components of the provision for credit losses for the periods indicated (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2026202520262025
Amount related to funded portion of loans$10,280 $11,851 $50,480 $43,508 
Amount related to off-balance sheet credit exposures(1,328)(274)(1,383)(1,122)
Total provision for credit losses$8,952 $11,577 $49,097 $42,386 
Financing Receivable, Gross Charge-Offs by Year of Origination
The following table presents gross charge-offs during the nine months ended September 30, 2026 by year of origination (in thousands):
Gross Charge-offs By Loan Origination Year
20262025202420232022Prior to 2022Revolving LoansTotal
CRE$— $— $— $— $— $7,449 $— $7,449 
C&I458 950 4,783 16,563 15,400 791 7,768 46,713 
Franchise and equipment finance
— — — — — 103 — 103 
$458 $950 $4,783 $16,563 $15,400 $8,343 $7,768 $54,265 
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):
September 30, 2026
Amortized Cost By Origination YearRevolving Loans
20262025202420232022PriorTotal
CRE
Pass$1,292,567 $1,978,943 $776,037 $596,475 $701,800 $1,259,143 $41,019 $6,645,984 
Substandard305 8,804 1,469 71,297 83,334 240,781 21,400 427,390 
Total CRE$1,292,872 $1,987,747 $777,506 $667,772 $785,134 $1,499,924 $62,419 $7,073,374 
C&I
Pass$1,191,116 $1,392,678 $824,430 $568,018 $576,326 $1,009,916 $2,391,024 $7,953,508 
Special mention— 27,781 48,642 — 16,121 2,513 12,190 107,247 
Substandard1,608 20,531 82,053 101,784 86,643 100,548 78,552 471,719 
Doubtful— — 3,514 7,518 2,842 17,529 8,283 39,686 
Total C&I$1,192,724 $1,440,990 $958,639 $677,320 $681,932 $1,130,506 $2,490,049 $8,572,160 
Pinnacle - municipal finance
Pass$130,327 $62,208 $15,526 $18,551 $56,303 $309,378 $— $592,293 
Total Pinnacle - municipal finance$130,327 $62,208 $15,526 $18,551 $56,303 $309,378 $— $592,293 
Franchise and equipment finance
Pass$— $— $— $1,588 $1,523 $52,902 $— $56,013 
Substandard— — — — — 3,329 — 3,329 
Total Franchise and equipment finance
$— $— $— $1,588 $1,523 $56,231 $— $59,342 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $932,290 $932,290 
Total Mortgage warehouse lending$— $— $— $— $— $— $932,290 $932,290 
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):
September 30, 2026December 31, 2025
Special mention$107,247 $175,009 
Substandard - accruing730,885 674,368 
Substandard - non-accruing171,553 300,903 
Doubtful39,686 48,247 
Total $1,049,371 $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):
September 30, 2026
Amortized Cost By Origination Year
Days Past Due
20262025202420232022PriorTotal
Current $242,954 $239,139 $134,135 $164,955 $846,586 $4,081,387 $5,709,156 
30 - 59 Days Past Due4,940 1,140 527 2,814 8,065 24,986 42,472 
60 - 89 Days Past Due— — — 1,175 — 4,582 5,757 
90 Days or More Past Due— 158 2,144 1,067 1,123 12,513 17,005 
$247,894 $240,437 $136,806 $170,011 $855,774 $4,123,468 $5,774,390 
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): 
September 30, 2026
Amortized Cost By Origination Year
LTV20262025202420232022PriorTotal
Less than 61%$51,533 $41,491 $15,634 $25,959 $198,759 $1,545,186 $1,878,562 
61% - 70% 62,419 40,666 18,453 19,347 220,861 1,077,598 1,439,344 
71% - 80%99,328 93,957 77,618 101,656 432,844 1,444,962 2,250,365 
More than 80%34,614 64,323 25,101 23,049 3,310 55,722 206,119 
$247,894 $240,437 $136,806 $170,011 $855,774 $4,123,468 $5,774,390 
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):
September 30, 2026
Amortized Cost By Origination Year
FICO20262025202420232022PriorTotal
760 or greater$199,310 $168,803 $106,283 $120,866 $606,982 $3,172,936 $4,375,180 
720 - 75942,376 46,184 20,400 25,329 134,425 555,873 824,587 
719 or less or not available
6,208 25,450 10,123 23,816 114,367 394,659 574,623 
$247,894 $240,437 $136,806 $170,011 $855,774 $4,123,468 $5,774,390 
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):
September 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$7,046,035 $— $21,321 $6,018 $7,073,374 $6,768,897 $751 $14,867 $26,356 $6,810,871 
C&I8,469,510 16,148 5,359 81,143 8,572,160 8,893,254 6,136 48,711 81,374 9,029,475 
Pinnacle - municipal finance592,293 — — — 592,293 619,374 — — — 619,374 
Franchise and equipment finance
59,342 — — — 59,342 102,746 — — — 102,746 
Mortgage warehouse lending
932,290 — — — 932,290 728,241 — — — 728,241 
1-4 single family residential5,709,156 42,472 5,757 17,005 5,774,390 6,021,772 48,099 4,468 17,620 6,091,959 
Government insured residential542,306 76,942 21,489 170,770 811,507 604,334 101,672 25,926 159,109 891,041 
$23,350,932 $135,562 $53,926 $274,936 $23,815,356 $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):
September 30, 2026December 31, 2025
Amortized CostAmortized Cost With No Related AllowanceAmortized CostAmortized Cost With No Related Allowance
CRE$35,676 $2,558 $108,959 $74,976 
C&I174,632 31,106 238,267 88,112 
Franchise and equipment finance
931 931 2,516 2,516 
1-4 single family residential23,673 — 22,876 — 
$234,912 $34,595 $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):
September 30, 2026December 31, 2025
Amortized CostExtent to Which Secured by CollateralAmortized CostExtent to Which Secured by Collateral
CRE$35,659 $35,236 $112,494 $112,071 
C&I134,688 95,000 170,222 142,356 
Franchise and equipment finance 930 930 2,516 2,516 
$171,277 $131,166 $285,232 $256,943 
Financing Receivable, Troubled Debt Restructuring
The following tables summarize loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the periods indicated (dollars in thousands):
Three Months Ended September 30, 2026
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Term Extension and Other than Insignificant Payment Delays
Other (1)
Total
% Modified in Portfolio Segment
CRE$— $662 $— $— $— $35,330 $35,992 1 %
C&I— 18,817 27,739 — 19,086 — 65,642 1 %
Franchise and equipment finance— — — — — — — — %
1-4 single family residential3,198 — — — — — 3,198 — %
Government insured residential— 5,734 — 3,282 — — 9,016 1 %
$3,198 $25,213 $27,739 $3,282 $19,086 $35,330 $113,848 — %
(1)Other modifications include loans that experienced a combination of Interest Rate Reduction, Term Extension and Other than Insignificant Payment Delays.
Nine Months Ended September 30, 2026
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Term Extension and Other than Insignificant Payment Delays
Other (1)
Total
% Modified in Portfolio Segment
CRE$— $30,851 $— $— $29,424 $35,330 $95,605 1 %
C&I119 22,434 27,739 — 65,039 23,212 138,543 2 %
Franchise and equipment finance — 1,834 — — — — 1,834 3 %
1-4 single family residential4,103 — — — — — 4,103 — %
Government insured residential— 14,430 — 5,974 — — 20,404 3 %
$4,222 $69,549 $27,739 $5,974 $94,463 $58,542 $260,489 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 September 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$— $28,170 $— $— $— $— $28,170 — %
C&I— 2,194 — — — — 2,194 — %
Government insured residential— 10,450 — 5,678 — — 16,128 2 %
$— $40,814 $— $5,678 $— $— $46,492 — %
Nine Months Ended September 30, 2025
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Total
% Modified in Portfolio Segment
CRE$— $119,337 $— $— $8,830 $— $128,167 2 %
C&I— 5,736 49,310 — — 6,406 61,452 1 %
1-4 single family residential35 — — — — — 35 — %
Government insured residential— 23,651 — 11,337 — — 34,988 4 %
$35 $148,724 $49,310 $11,337 $8,830 $6,406 $224,642 1 %
The following tables summarize the financial effect of the modifications made to borrowers experiencing difficulty, during the periods indicated:
Three Months Ended September 30, 2026
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 7.2% to 6.7%.
Term Extension:
CRE
Added a weighted average 0.3 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 16.3 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 1.7 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.3% to 6.6% and added a weighted average 2.6 years to the term of the modified loans.
Combination - Term Extension and Other than Insignificant Payment Delays:
C&I
Added a weighted average 1.0 years to the term of the modified loans and provided 1.3 years of payment deferral.
Other:
CRE
Added a weighted average 2.0 years to the term of the modified loans, reduced weighted average contractual interest rate from 6.6% to 6.5%, and provided 1.5 years of payment deferral.
Nine Months Ended September 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 7.1% to 6.6%.
Term Extension:
CRE
Added a weighted average 0.4 years to the term of the modified loans.
C&I
Added a weighted average 0.8 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 14.5 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 1.7 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.2% to 6.5% and added a weighted average 4.2 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 1.5 years to the term of the modified loans and provided 2.0 years of payment deferral.
Other:
CRE
Added a weighted average 2.0 years to the term of the modified loans, reduced weighted average contractual interest rate from 6.6% to 6.5%, and provided 1.5 years of payment deferral.
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 8.6%, and provided 3.8 years of payment deferral.
Three Months Ended September 30, 2025
Financial Effect
Term Extension:
CRE
Added a weighted average 3.5 year to the term of the modified loans.
C&I
Added a weighted average 0.3 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.2 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 7.2% to 6.6% and added a weighted average 3.0 years to the term of the modified loans.
Nine Months Ended September 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 1.5 year to the term of the modified loans.
C&I
Added a weighted average 1.2 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.0 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 7.2% to 6.8% and added a weighted average 2.7 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):
September 30, 2026
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$74,283 $— $21,321 $— $95,604 
C&I132,594 737 1,094 4,119 138,544 
Franchise and equipment finance 1,834 — — — 1,834 
1-4 single family residential 2,658 1,445 — — 4,103 
Government insured residential 9,292 7,311 2,765 9,455 28,823 
$220,661 $9,493 $25,180 $13,574 $268,908 
September 30, 2025
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$190,459 $— $— $16,450 $206,909 
C&I69,692 18,500 1,996 850 91,038 
1-4 single family residential 35 — 169 — 204 
Government insured residential 14,376 6,627 6,122 14,018 41,143 
$274,562 $25,127 $8,287 $31,318 $339,294 
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 September 30,
20262025
Interest Rate ReductionTerm ExtensionCombination - Interest Rate Reduction and Term ExtensionTotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$119 $— $— $119 $— $668 $— $668 
Government insured residential$— 1,474 756 2,230 8,180 — 3,169 11,349 
$119 $1,474 $756 $2,349 $8,180 $668 $3,169 $12,017 
Nine Months Ended September 30,
20262025
Interest Rate Reduction 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$119 $— $— 3,999 $4,118 $— $1,563 $— $1,563 
Government insured residential $— 5,982 5,475 — 11,457 12,920 — 6,617 19,537 
$119 $5,982 $5,475 3,999 $15,575 $12,920 $1,563 $6,617 $21,100