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Loans

3 Months Ended

Mar. 31, 2026

Note 5 — Loans

The following is a summary of total loans:


	March 31,			December 31,
(Dollars in thousands)	2026			2025
Loans:
Construction and land development ⁽¹⁾	$	2,592,908		$	2,548,360
Commercial non-owner-occupied		17,097,738			16,651,760
Commercial owner-occupied real estate		7,671,535			7,576,991
Consumer owner-occupied ⁽²⁾		8,717,832			8,618,434
Home equity loans		1,856,065			1,831,789
Commercial and industrial		9,385,926			9,181,408
Other income producing property		1,201,200			1,232,153
Consumer		923,413			955,266
Other loans		50,166			2,366
Total loans		49,496,783			48,598,527
Less: allowance for credit losses		(585,882)			(585,197)
Loans, net	$	48,910,901		$	48,013,330

(1)

Construction and land development includes loans for both commercial construction and development, as well as loans for 1-4 family residential construction and lot loans.

(2)

Consumer owner-occupied real estate includes loans on both 1-4 family owner-occupied property, as well as loans collateralized by 1-4 family owner-occupied properties with a business intent.

The above table reflects the loan portfolio at the amortized cost basis for the periods ended March 31, 2026 and December 31, 2025, to include net deferred costs of $97.4 million and $97.0 million, respectively, and unamortized discount total related to loans acquired of $219.0 million and $259.5 million, respectively. Accrued interest receivables of $189.2 million and $186.5 million, respectively, are accounted for separately and reported in other assets for the periods March 31, 2026 and December 31, 2025.

As part of the ongoing monitoring of the credit quality of our loan portfolio, management tracks certain credit quality indicators, including trends related to (i) the level of classified loans, (ii) net charge-offs, (iii) non-performing loans (see details below), and (iv) the general economic conditions of the markets that we serve.

The Company utilizes a risk grading matrix to assign a risk grade to each commercial loan. Classified loans are assessed at a minimum of every six months. A description of the general characteristics of the risk grades is as follows:

●

Pass—These loans range from minimal credit risk to average, however, are still an acceptable credit risk.

●

Special mention—A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the Bank’s credit position at some future date.

●

Substandard—A substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that may jeopardize the liquidation of the debt. A substandard loan is characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected.

●

Doubtful—A doubtful loan has all of the weaknesses inherent in one classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of the currently existing facts, conditions and values, highly questionable and improbable.

Construction and land development loans in the following table are on commercial and speculative real estate. Consumer owner-occupied loans are collateralized by 1-4 family owner-occupied properties with a business intent.

The following table presents the credit risk profile by risk grade of commercial loans by origination year as of and for the period ending March 31, 2026:


(Dollars in thousands)		Term Loans Amortized Cost Basis by Origination Year
As of March 31, 2026	2026		2025		2024		2023		2022		Prior		Revolving		Total
Construction and land development
Risk rating:
Pass	$	173,000	$	944,346	$	536,790	$	155,974	$	102,693	$	89,586	$	168,322	$	2,170,711
Special mention		—		693		129		1,803		4,020		819		720		8,184
Substandard		2,071		5,103		6,972		32,258		938		6,243		—		53,585
Doubtful		—		—		—		—		—		—		—		—
Total Construction and land development	$	175,071	$	950,142	$	543,891	$	190,035	$	107,651	$	96,648	$	169,042	$	2,232,480
Construction and land development
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	166	$	—	$	166

Commercial non-owner-occupied
Risk rating:
Pass	$	1,255,907	$	2,678,645	$	1,127,469	$	1,206,881	$	3,590,717	$	4,965,255	$	213,741	$	15,038,615
Special mention		11,475		40,197		12,643		48,965		357,823		122,355		1,070		594,528
Substandard		33,976		121,359		27,981		161,686		643,473		475,616		500		1,464,591
Doubtful		—		—		—		—		—		4		—		4
Total Commercial non-owner-occupied	$	1,301,358	$	2,840,201	$	1,168,093	$	1,417,532	$	4,592,013	$	5,563,230	$	215,311	$	17,097,738
Commercial non-owner-occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial Owner-Occupied
Risk rating:
Pass	$	347,687	$	1,236,738	$	719,477	$	628,145	$	1,091,286	$	3,147,003	$	96,577	$	7,266,913
Special mention		—		5,273		3,637		12,317		10,784		23,063		487		55,561
Substandard		4,886		21,656		20,615		48,093		125,668		126,054		2,072		349,044
Doubtful		—		9		4		—		—		4		—		17
Total commercial owner-occupied	$	352,573	$	1,263,676	$	743,733	$	688,555	$	1,227,738	$	3,296,124	$	99,136	$	7,671,535
Commercial owner-occupied
Current-period gross charge-offs	$	—	$	—	$	11	$	45	$	—	$	38	$	—	$	94

Commercial and industrial
Risk rating:
Pass	$	1,170,424	$	1,996,467	$	989,560	$	535,461	$	812,299	$	1,099,481	$	2,375,124	$	8,978,816
Special mention		263		3,216		2,647		8,168		4,767		4,379		7,495		30,935
Substandard		10,997		18,209		49,444		62,556		47,530		59,668		127,520		375,924
Doubtful		4		2		23		52		70		28		72		251
Total commercial and industrial	$	1,181,688	$	2,017,894	$	1,041,674	$	606,237	$	864,666	$	1,163,556	$	2,510,211	$	9,385,926
Commercial and industrial
Current-period gross charge-offs	$	89	$	603	$	5,807	$	1,521	$	866	$	1,100	$	352	$	10,338

Other income producing property
Risk rating:
Pass	$	53,141	$	155,107	$	100,011	$	76,881	$	255,567	$	344,789	$	63,612	$	1,049,108
Special mention		74		1,844		231		46		263		2,273		510		5,241
Substandard		277		1,911		639		1,905		13,193		21,270		304		39,499
Doubtful		—		—		—		—		—		—		—		—
Total other income producing property	$	53,492	$	158,862	$	100,881	$	78,832	$	269,023	$	368,332	$	64,426	$	1,093,848
Other income producing property
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer owner-occupied
Risk rating:
Pass	$	1,269	$	15,721	$	3,804	$	18,259	$	10,608	$	35,588	$	28,810	$	114,059
Special mention		—		111		735		130		—		—		—		976
Substandard		—		1,757		—		—		—		64		585		2,406
Doubtful		—		—		—		—		—		1		—		1
Total Consumer owner-occupied	$	1,269	$	17,589	$	4,539	$	18,389	$	10,608	$	35,653	$	29,395	$	117,442
Consumer owner-occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Other loans
Risk rating:
Pass	$	50,166	$	—	$	—	$	—	$	—	$	—	$	—	$	50,166
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total other loans	$	50,166	$	—	$	—	$	—	$	—	$	—	$	—	$	50,166
Other loans
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Commercial Loans
Risk rating:
Pass	$	3,051,594	$	7,027,024	$	3,477,111	$	2,621,601	$	5,863,170	$	9,681,702	$	2,946,186	$	34,668,388
Special mention		11,812		51,334		20,022		71,429		377,657		152,889		10,282		695,425
Substandard		52,207		169,995		105,651		306,498		830,802		688,915		130,981		2,285,049
Doubtful		4		11		27		52		70		37		72		273
Total Commercial Loans	$	3,115,617	$	7,248,364	$	3,602,811	$	2,999,580	$	7,071,699	$	10,523,543	$	3,087,521	$	37,649,135
Commercial Loans
Current-period gross charge-offs	$	89	$	603	$	5,818	$	1,566	$	866	$	1,304	$	352	$	10,598

The following table presents the credit risk profile by risk grade of commercial loans by origination year as of and for the period ending December 31, 2025:


(Dollars in thousands)		Term Loans Amortized Cost Basis by Origination Year
As of December 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving		Total
Construction and land development
Risk rating:
Pass	$	862,035	$	575,253	$	264,370	$	175,486	$	57,814	$	40,977	$	147,911	$	2,123,846
Special mention		706		137		1,815		20,580		335		510		—		24,083
Substandard		5,292		7,512		32,431		5,898		892		5,564		—		57,589
Doubtful		—		—		—		—		—		—		—		—
Total Construction and land development	$	868,033	$	582,902	$	298,616	$	201,964	$	59,041	$	47,051	$	147,911	$	2,205,518
Construction and land development
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	16	$	—	$	—	$	16

Commercial non-owner-occupied
Risk rating:
Pass	$	2,564,868	$	1,161,720	$	1,304,297	$	3,828,512	$	2,440,726	$	2,996,445	$	185,751	$	14,482,319
Special mention		51,864		17,084		100,316		383,957		27,680		96,579		10,484		687,964
Substandard		169,713		28,225		100,542		598,777		357,340		226,461		415		1,481,473
Doubtful		—		—		—		—		1		3		—		4
Total Commercial non-owner-occupied	$	2,786,445	$	1,207,029	$	1,505,155	$	4,811,246	$	2,825,747	$	3,319,488	$	196,650	$	16,651,760
Commercial non-owner-occupied
Current-period gross charge-offs	$	—	$	—	$	4,565	$	1,237	$	18,033	$	9,800	$	—	$	33,635

Commercial Owner-Occupied
Risk rating:
Pass	$	1,210,501	$	777,109	$	634,593	$	1,105,730	$	1,110,749	$	2,218,753	$	102,835	$	7,160,270
Special mention		4,609		1,075		12,204		10,424		5,539		17,866		438		52,155
Substandard		19,657		38,394		52,341		115,676		33,813		102,965		1,703		364,549
Doubtful		9		4		—		—		—		4		—		17
Total commercial owner-occupied	$	1,234,776	$	816,582	$	699,138	$	1,231,830	$	1,150,101	$	2,339,588	$	104,976	$	7,576,991
Commercial owner-occupied
Current-period gross charge-offs	$	1,095	$	—	$	874	$	1,628	$	184	$	1,317	$	50	$	5,148

Commercial and industrial
Risk rating:
Pass	$	2,644,081	$	1,056,432	$	613,536	$	876,480	$	410,578	$	771,994	$	2,396,981	$	8,770,082
Special mention		5,089		2,283		20,226		6,023		2,955		2,208		14,387		53,171
Substandard		10,054		50,362		52,210		52,356		37,921		31,469		123,611		357,983
Doubtful		—		3		43		68		50		2		6		172
Total commercial and industrial	$	2,659,224	$	1,109,080	$	686,015	$	934,927	$	451,504	$	805,673	$	2,534,985	$	9,181,408
Commercial and industrial
Current-period gross charge-offs	$	23,240	$	2,947	$	4,351	$	9,157	$	12,680	$	11,844	$	10,007	$	74,226

Other income producing property
Risk rating:
Pass	$	157,404	$	114,264	$	88,883	$	272,672	$	173,188	$	210,459	$	55,663	$	1,072,533
Special mention		2,020		463		145		269		542		2,897		602		6,938
Substandard		1,936		420		1,918		15,540		2,294		17,247		548		39,903
Doubtful		—		—		—		—		—		—		—		—
Total other income producing property	$	161,360	$	115,147	$	90,946	$	288,481	$	176,024	$	230,603	$	56,813	$	1,119,374
Other income producing property
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer owner-occupied
Risk rating:
Pass	$	15,587	$	3,687	$	20,410	$	10,949	$	11,145	$	25,248	$	31,042	$	118,068
Special mention		118		745		131		—		—		—		—		994
Substandard		1,376		209		—		—		—		158		588		2,331
Doubtful		—		—		—		—		—		1		—		1
Total Consumer owner-occupied	$	17,081	$	4,641	$	20,541	$	10,949	$	11,145	$	25,407	$	31,630	$	121,394
Consumer owner-occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Other loans
Risk rating:
Pass	$	2,366	$	—	$	—	$	—	$	—	$	—	$	—	$	2,366
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total other loans	$	2,366	$	—	$	—	$	—	$	—	$	—	$	—	$	2,366
Other loans
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Commercial Loans
Risk rating:
Pass	$	7,456,842	$	3,688,465	$	2,926,089	$	6,269,829	$	4,204,200	$	6,263,876	$	2,920,183	$	33,729,484
Special mention		64,406		21,787		134,837		421,253		37,051		120,060		25,911		825,305
Substandard		208,028		125,122		239,442		788,247		432,260		383,864		126,865		2,303,828
Doubtful		9		7		43		68		51		10		6		194
Total Commercial Loans	$	7,729,285	$	3,835,381	$	3,300,411	$	7,479,397	$	4,673,562	$	6,767,810	$	3,072,965	$	36,858,811
Commercial Loans
Current-period gross charge-offs	$	24,335	$	2,947	$	9,790	$	12,022	$	30,913	$	22,961	$	10,057	$	113,025

For the consumer segment, delinquency of a loan is determined by past due status. Consumer loans are automatically placed on nonaccrual status once the loan is 90 days past due. Construction and land development loans are on 1-4 family residential properties and lots.

The following table presents the credit risk profile by past due status of consumer loans by origination year as of and for the period ending March 31, 2026:


(Dollars in thousands)	Term Loans Amortized Cost Basis by Origination Year
As of March 31, 2026	2026		2025		2024		2023		2022		Prior		Revolving		Total
Consumer owner-occupied
Days past due:
Current	$	334,294	$	1,173,523	$	616,621	$	946,580	$	2,360,385	$	3,104,324	$	—	$	8,535,727
30 days past due		—		1,973		4,441		4,546		2,153		6,296		—		19,409
60 days past due		—		680		2,971		2,136		404		1,664		—		7,855
90 days past due		—		2,112		8,078		11,893		4,842		10,474		—		37,399
Total Consumer owner-occupied	$	334,294	$	1,178,288	$	632,111	$	965,155	$	2,367,784	$	3,122,758	$	—	$	8,600,390
Consumer owner-occupied
Current-period gross charge-offs	$	—	$	181	$	692	$	539	$	170	$	—	$	—	$	1,582

Home equity loans
Days past due:
Current	$	1,198	$	1,791	$	4,977	$	2,410	$	3,667	$	13,205	$	1,818,332	$	1,845,580
30 days past due		—		—		259		30		—		642		2,985		3,916
60 days past due		—		—		92		105		—		357		1,881		2,435
90 days past due		—		—		77		713		903		886		1,555		4,134
Total Home equity loans	$	1,198	$	1,791	$	5,405	$	3,258	$	4,570	$	15,090	$	1,824,753	$	1,856,065
Home equity loans
Current-period gross charge-offs	$	—	$	—	$	61	$	10	$	—	$	50	$	—	$	121

Consumer
Days past due:
Current	$	51,018	$	171,883	$	120,336	$	144,710	$	141,022	$	204,194	$	85,247	$	918,410
30 days past due		—		180		121		80		600		633		226		1,840
60 days past due		—		127		88		204		57		254		2		732
90 days past due		—		18		215		385		367		1,391		55		2,431
Total consumer	$	51,018	$	172,208	$	120,760	$	145,379	$	142,046	$	206,472	$	85,530	$	923,413
Consumer
Current-period gross charge-offs	$	28	$	203	$	198	$	298	$	117	$	73	$	1,216	$	2,133

Construction and land development
Days past due:
Current	$	16,080	$	155,836	$	65,089	$	25,986	$	51,572	$	45,442	$	—	$	360,005
30 days past due		—		—		—		—		—		—		—		—
60 days past due		—		—		—		—		—		—		—		—
90 days past due		—		—		—		154		269		—		—		423
Total Construction and land development	$	16,080	$	155,836	$	65,089	$	26,140	$	51,841	$	45,442	$	—	$	360,428
Construction and land development
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Other income producing property
Days past due:
Current	$	808	$	3,626	$	1,193	$	7,732	$	49,310	$	44,182	$	91	$	106,942
30 days past due		—		—		—		—		—		5		—		5
60 days past due		—		—		—		—		—		—		—		—
90 days past due		—		—		3		—		258		144		—		405
Total other income producing property	$	808	$	3,626	$	1,196	$	7,732	$	49,568	$	44,331	$	91	$	107,352
Other income producing property
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Consumer Loans
Days past due:
Current	$	403,398	$	1,506,659	$	808,216	$	1,127,418	$	2,605,956	$	3,411,347	$	1,903,670	$	11,766,664
30 days past due		—		2,153		4,821		4,656		2,753		7,576		3,211		25,170
60 days past due		—		807		3,151		2,445		461		2,275		1,883		11,022
90 days past due		—		2,130		8,373		13,145		6,639		12,895		1,610		44,792
Total Consumer Loans	$	403,398	$	1,511,749	$	824,561	$	1,147,664	$	2,615,809	$	3,434,093	$	1,910,374	$	11,847,648
Consumer Loans
Current-period gross charge-offs	$	28	$	384	$	951	$	847	$	287	$	123	$	1,216	$	3,836

The following table presents the credit risk profile by past due status of total loans by origination year as of and for the period ending March 31, 2026:

(Dollars in thousands)

Term Loans Amortized Cost Basis by Origination Year

As of March 31, 2026

2026

2025

2024

2023

2022

Prior

Revolving

Total

Total Loans

3,519,015

8,760,113

4,427,372

4,147,244

9,687,508

13,957,636

4,997,895

49,496,783

Current-period gross charge-offs

117

987

6,769

2,413

1,153

1,427

1,568

14,434

The following table presents the credit risk profile by past due status of consumer loans by origination year as of and for the period ending December 31, 2025:


(Dollars in thousands)	Term Loans Amortized Cost Basis by Origination Year
As of December 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving		Total
Consumer owner-occupied
Days past due:
Current	$	1,182,075	$	647,315	$	1,014,555	$	2,407,217	$	1,639,720	$	1,543,231	$	—	$	8,434,113
30 days past due		2,060		3,805		5,472		3,232		3,926		3,369		—		21,864
60 days past due		685		2,557		2,670		620		559		1,626		—		8,717
90 days past due		1,156		9,661		8,967		6,584		1,524		4,454		—		32,346
Total Consumer owner-occupied	$	1,185,976	$	663,338	$	1,031,664	$	2,417,653	$	1,645,729	$	1,552,680	$	—	$	8,497,040
Consumer owner-occupied
Current-period gross charge-offs	$	122	$	926	$	981	$	458	$	53	$	107	$	—	$	2,647

Home equity loans
Days past due:
Current	$	1,627	$	5,549	$	2,618	$	3,463	$	1,308	$	13,961	$	1,794,239	$	1,822,765
30 days past due		50		26		160		199		—		502		2,752		3,689
60 days past due		—		50		212		74		—		108		1,615		2,059
90 days past due		—		218		577		886		138		610		847		3,276
Total Home equity loans	$	1,677	$	5,843	$	3,567	$	4,622	$	1,446	$	15,181	$	1,799,453	$	1,831,789
Home equity loans
Current-period gross charge-offs	$	—	$	66	$	—	$	70	$	—	$	415	$	—	$	551

Consumer
Days past due:
Current	$	193,165	$	134,608	$	156,266	$	154,801	$	62,652	$	156,314	$	91,731	$	949,537
30 days past due		55		117		304		271		205		1,295		75		2,322
60 days past due		41		70		427		50		—		268		65		921
90 days past due		67		177		532		365		47		1,288		10		2,486
Total consumer	$	193,328	$	134,972	$	157,529	$	155,487	$	62,904	$	159,165	$	91,881	$	955,266
Consumer
Current-period gross charge-offs	$	390	$	912	$	910	$	776	$	114	$	2,655	$	6,007	$	11,764

Construction and land development
Days past due:
Current	$	129,749	$	80,514	$	27,590	$	53,698	$	26,284	$	24,390	$	—	$	342,225
30 days past due		—		—		—		—		—		—		—		—
60 days past due		—		—		—		—		—		—		—		—
90 days past due		—		—		154		463		—		—		—		617
Total Construction and land development	$	129,749	$	80,514	$	27,744	$	54,161	$	26,284	$	24,390	$	—	$	342,842
Construction and land development
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Other income producing property
Days past due:
Current	$	3,638	$	2,037	$	7,756	$	50,859	$	16,477	$	31,521	$	86	$	112,374
30 days past due		—		—		—		—		—		—		—		—
60 days past due		—		—		—		—		—		16		—		16
90 days past due		—		3		—		258		—		128		—		389
Total other income producing property	$	3,638	$	2,040	$	7,756	$	51,117	$	16,477	$	31,665	$	86	$	112,779
Other income producing property
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total Consumer Loans
Days past due:
Current	$	1,510,254	$	870,023	$	1,208,785	$	2,670,038	$	1,746,441	$	1,769,417	$	1,886,056	$	11,661,014
30 days past due		2,165		3,948		5,936		3,702		4,131		5,166		2,827		27,875
60 days past due		726		2,677		3,309		744		559		2,018		1,680		11,713
90 days past due		1,223		10,059		10,230		8,556		1,709		6,480		857		39,114
Total Consumer Loans	$	1,514,368	$	886,707	$	1,228,260	$	2,683,040	$	1,752,840	$	1,783,081	$	1,891,420	$	11,739,716
Consumer Loans
Current-period gross charge-offs	$	512	$	1,904	$	1,891	$	1,304	$	167	$	3,177	$	6,007	$	14,962

The following table presents the credit risk profile by past due status of total loans by origination year as of and for the period ending December 31, 2025:


(Dollars in thousands)	Term Loans Amortized Cost Basis by Origination Year
As of December 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving		Total
Total Loans	$	9,243,653	$	4,722,088	$	4,528,671	$	10,162,437	$	6,426,402	$	8,550,891	$	4,964,385	$	48,598,527

Current-period gross charge-offs	$	24,847	$	4,851	$	11,681	$	13,326	$	31,080	$	26,138	$	16,064	$	127,987

The following table presents an aging analysis of past due accruing loans, segregated by class, as of March 31, 2026 and December 31, 2025:


	30 - 59 Days			60 - 89 Days			90+ Days			Total						Non-		Total
(Dollars in thousands)	Past Due			Past Due			Past Due			Past Due			Current			Accruing		Loans
March 31, 2026
Construction and land development	$	4,530		$	—		$	—		$	4,530		$	2,581,007		$	7,371	$	2,592,908
Commercial non-owner-occupied		23,530			2,794			202			26,526			17,012,289			58,923		17,097,738
Commercial owner-occupied		8,658			1,229			1,879			11,766			7,621,081			38,688		7,671,535
Consumer owner-occupied		12,792			201			—			12,993			8,626,165			78,674		8,717,832
Home equity loans		3,124			2,025			2			5,151			1,841,863			9,051		1,856,065
Commercial and industrial		23,652			6,779			6,818			37,249			9,253,867			94,810		9,385,926
Other income producing property		660			414			—			1,074			1,198,132			1,994		1,201,200
Consumer		1,728			481			—			2,209			917,555			3,649		923,413
Other loans		—			—			—			—			50,166			—		50,166
	$	78,674		$	13,923		$	8,901		$	101,498		$	49,102,125		$	293,160	$	49,496,783
December 31, 2025
Construction and land development	$	3,018		$	472		$	139		$	3,629		$	2,537,171		$	7,560	$	2,548,360
Commercial non-owner-occupied		8,457			304			408			9,169			16,575,180			67,411		16,651,760
Commercial owner-occupied		14,821			4,651			865			20,337			7,516,697			39,957		7,576,991
Consumer owner-occupied		16,301			901			—			17,202			8,527,681			73,551		8,618,434
Home equity loans		2,739			1,226			1			3,966			1,819,479			8,344		1,831,789
Commercial and industrial		24,890			5,860			2,913			33,663			9,052,979			94,766		9,181,408
Other income producing property		1,582			827			615			3,024			1,227,020			2,109		1,232,153
Consumer		2,002			793			—			2,795			949,014			3,457		955,266
Other loans		—			—			—			—			2,366			—		2,366
	$	73,810		$	15,034		$	4,941		$	93,785		$	48,207,587		$	297,155	$	48,598,527

The following table is a summary of information pertaining to nonaccrual loans by class, including loans modified for borrowers with financial difficulty as of March 31, 2026 and December 31, 2025:


	March 31,		Greater than		Non-accrual		December 31,
(Dollars in thousands)	2026		90 Days Accruing⁽¹⁾		with no allowance⁽¹⁾		2025
Construction and land development	$	7,371	$	—	$	5,720	$	7,560
Commercial non-owner-occupied		58,923		202		50,362		67,411
Commercial owner-occupied real estate		38,688		1,879		6,786		39,957
Consumer owner-occupied		78,674		—		1,484		73,551
Home equity loans		9,051		2		—		8,344
Commercial and industrial		94,810		6,818		13,752		94,766
Other income producing property		1,994		—		—		2,109
Consumer		3,649		—		—		3,457
Total loans on nonaccrual status	$	293,160	$	8,901	$	78,104	$	297,155

(1)

Greater than 90 days accruing and non-accrual with no allowance loans at March 31, 2026.

There is no interest income recognized during the period on nonaccrual loans. The Company follows its nonaccrual policy by reversing contractual interest income in the income statement when the Company places a loan on nonaccrual status. Loans on nonaccrual status in which there is no allowance assigned are individually evaluated loans that do not carry a specific reserve. See Note 2 — Summary of Significant Accounting Policies for further detailed descriptions on individually evaluated loans.

The following is a summary of collateral dependent loans, by type of collateral, and the extent to which they are collateralized during the period:


	March 31,		Collateral			December 31,		Collateral
(Dollars in thousands)	2026		Coverage		%	2025		Coverage		%
Construction and land development
Other	$	5,720	$	7,725	135%	$	5,778	$	7,725	134%
Commercial owner-occupied real estate
Church		3,260		5,288	162%		3,315		6,075	183%
Other		3,526		5,373	152%		6,157		9,549	155%
Commercial non-owner-occupied real estate
Hotel		8,420		17,082	203%		—		—	—
Retail		3,561		5,251	147%		3,451		5,251	152%
Other		1,216		1,458	120%		1,250		1,512	121%
Office		12,567		14,854	118%		12,250		22,015	180%
Multifamily		24,598		27,351	111%		44,860		50,894	113%
Commercial and industrial
Other		45,577		46,526	102%		49,491		46,539	94%
Other income producing property
1-4 family investment property		—		—	—		717		545	76%
Consumer owner-occupied
1st Mtg Residential		1,484		2,250	152%		1,484		2,250	152%
Total collateral dependent loans	$	109,929	$	133,158		$	128,753	$	152,355

The Bank designates individually evaluated loans on non-accrual with a net book balance exceeding the designated threshold as collateral dependent loans. Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the ACL. The Bank has adopted the collateral maintenance practical expedient to measure the ACL based on the fair value of collateral. The ACL is calculated on an individual loan basis based on the shortfall between the fair value of the loan's collateral, which is adjusted for selling costs, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The Bank’s threshold for individually evaluated loans is $1.0 million. The changes above in collateral percentage are generally due to appraisal value updates or changes in the number of loans within the asset class and collateral type. Overall collateral dependent loans decreased $18.8 million during the three months ended March 31, 2026.

Loans on nonaccrual status at the date of modification are initially classified as nonaccrual. Loans on accruing status at the date of modification are initially classified as accruing if the note is reasonably assured of repayment and performance is expected in accordance with its modified terms. Such loans may be designated as nonaccrual loans subsequent to the modification date if reasonable doubt exists as to the collection of interest or principal under the modification agreement. Nonaccrual loans are returned to accruing status when there is economic substance to the modification, there is documented credit evaluation of the borrower’s financial condition, the remaining balance is reasonably assured of repayment in accordance with its modified terms, and the borrower has demonstrated sustained repayment performance in accordance with the modified terms for a reasonable period of time (generally a minimum of six months). See Note 2 — Summary of Significant Accounting Policies for how such modifications are factored into the determination of the ACL for the periods presented above.

The following tables present loans designated as modifications made to borrowers experiencing financial difficulty during the three months ended March 31, 2026 and 2025, respectively. The loans are segregated by type of modification and asset class, indicating the financial effect of the modifications.

Three Months Ended March 31,

2026

2025

Reduction in Weighted

Amortized

% of Total

Average Contractual

Amortized

% of Total

Average Contractual

(Dollars in thousands)

Cost

Asset Class

Interest Rate

Cost

Asset Class

Interest Rate

Interest rate reduction

Commercial non-owner-occupied

2,848

0.02%

1.28%

15,088

0.10%

8.00% to 7.09%

Commercial and industrial

289

0.00%

0.39%

389

0.00%

8.75% to 7.00%

Total interest rate reductions

3,137

15,477

Three Months Ended March 31,

2026

2025

Increase in

Amortized

% of Total

Weighted Average

Amortized

% of Total

Weighted Average

(Dollars in thousands)

Cost

Asset Class

Life of Loan

Cost

Asset Class

Life of Loan

Term extension

Construction and land development

1,207

0.05%

6 months

295

0.01%

9 months

Commercial non-owner occupied

55,182

0.32%

4 months

—

Commercial owner-occupied real estate

3,588

0.05%

7 months

—

Consumer owner-occupied

1,840

0.02%

4 months

1,298

0.02%

2 months

Commercial and industrial

26,738

0.28%

6 months

2,000

0.02%

3 months

Total term extensions

88,555

3,593

Three Months Ended March 31,

2026

2025

Weighted Average of

Amortized

% of Total

Months Payments

Amortized

% of Total

Months Payments

(Dollars in thousands)

Cost

Asset Class

Were Deferred

Cost

Asset Class

Were Deferred

Other-than-insignificant payment delay

Commercial non-owner occupied

67,595

0.40%

9 months

—

Commercial owner-occupied real estate

1,056

0.01%

9 months

693

0.01%

13 months

Commercial and industrial

7,271

0.08%

9 months

—

Total payment delays

75,922

693

Three Months Ended March 31,

2026

2025

Reduction in

Increase in

Reduction in

Increase in

Weighted Average

Weighted

Weighted Average

Weighted

Amortized

Contractual

Average

Amortized

Contractual

Average

(Dollars in thousands)

Cost

Interest Rate

Life of Loan

Cost

Interest Rate

Life of Loan

Combination - Term Extension and Interest Rate Reduction

Construction and land development

1,813

1.75%

16 months

—

Consumer owner-occupied

1,233

0.53%

38 months

490

7.13% to 3.00%

3 months

Total term extension and interest rate reduction combinations

3,046

490

Three Months Ended March 31,

2026

2025

Reduction in

Increase in

Reduction in

Increase in

Weighted

Average

Amortized

Contractual

Amortization

Amortized

Contractual

Amortization

(Dollars in thousands)

Cost

Interest Rate

Term

Cost

Interest Rate

Term

Combination - Interest Rate Reduction and Payment Delay

Commercial and industrial

—

1,193

7.75% to 7.00%

12 months

Total interest rate reduction and payment delay combinations

—

1,193

The Bank on occasion will enter into modification agreements which extend the maturity payoff on a loan or reduce the interest rate for borrowers willing to continue to pay, to minimize losses for the Bank. At March 31, 2026, the Company had $4.2 million in remaining commitments to lend additional funds on loans to borrowers experiencing financial difficulty and modified during the current reporting period.

The following table presents the changes in status of loans modified within the previous twelve months to borrowers experiencing financial difficulty, as of March 31, 2026 and 2025, by type of modification. The subsequent defaults were all due to past due status greater than 89 days.


	March 31,
	2026						2025
	Paying Under						Paying Under
	Restructured		Converted to		Foreclosures		Restructured		Converted to		Foreclosures
	Terms		Nonaccrual		and Defaults		Terms		Nonaccrual		and Defaults
	Amortized		Amortized		Amortized		Amortized		Amortized		Amortized
(Dollars in thousands)	Cost		Cost		Cost		Cost		Cost		Cost
Interest rate reduction
Commercial non-owner-occupied	$	2,848	$	—	$	—	$	15,088	$	—	$	—
Commercial owner-occupied real estate		723		—		—		—		—		—
Commercial and industrial		289		—		—		390		—		—
Consumer owner-occupied		—		—		—		884		—		—
Total interest rate reductions	$	3,860	$	—	$	—	$	16,362	$	—	$	—

Term extension
Construction and land development	$	7,237	$	—	$	—	$	295	$	—	$	—
Commercial non-owner-occupied		64,982		—		—		—		—		—
Commercial owner-occupied real estate		4,563		—		—		7,716		—		962
Commercial and industrial		27,979		—		425		12,352		—		5,144
Other income producing property		212		—		—		—		—		—
Consumer owner-occupied		8,016		—		1,119		2,642		—		328
Total term extensions	$	112,989	$	—	$	1,544	$	23,005	$	—	$	6,434

Other-than-insignificant payment delay
Commercial non-owner occupied	$	105,010	$	—	$	—	$	—	$	—	$	—
Commercial owner-occupied real estate		3,575		—		1,801		693		—		—
Commercial and industrial		8,789		—		—		—		—		—
Total payment delays	$	117,374	$	—	$	1,801	$	693	$	—	$	—

Term Extension and Interest Rate Reduction
Construction and land development	$	1,813	$	—	$	—	$	—	$	—	$	—
Consumer owner-occupied		2,063		—		335		857		—		—
Total term extension and interest rate combinations	$	3,876	$	—	$	335	$	857	$	—	$	—

Term Extension and Payment Delay
Commercial non-owner occupied	$	2,520	$	—	$	—	$	—	$	—	$	—
Commercial and industrial		186		2,000		—		1,193		—		—
Total term extension and payment delay combinations	$	2,706	$	2,000	$	—	$	1,193	$	—	$	—

Interest Rate Reduction and Payment Delay
Commercial non-owner occupied	$	29,740	$	—	$	—	$	—	$	—	$	—
Total interest rate reduction and payment delay combinations	$	29,740	$	—	$	—	$	—	$	—	$	—
	$	270,545	$	2,000	$	3,680	$	42,110	$	—	$	6,434

The following table depicts the performance of loans modified within the previous twelve months to borrowers experiencing financial difficulty, as of March 31, 2026 and 2025:


	March 31, 2026						March 31, 2025
	Payment Status (Amortized Cost Basis)						Payment Status (Amortized Cost Basis)
			30-89 Days		90+ Days				30-89 Days		90+ Days
(Dollars in thousands)	Current		Past Due		Past Due		Current		Past Due		Past Due
Construction and land development	$	9,050	$	—	$	—	$	295	$	—	$	—
Commercial non-owner-occupied		197,146		7,954		—		15,088		—		—
Commercial owner-occupied real estate		8,861		—		1,801		8,409		—		962
Commercial and industrial		39,243		—		425		13,935		—		5,144
Other income producing property		212		—		—		—		—		—
Consumer owner-occupied		8,414		2,481		638		3,529		1,182		—
Total	$	262,926	$	10,435	$	2,864	$	41,256	$	1,182	$	6,106