Old National’s loans consist primarily of loans made to consumers and commercial clients in many diverse industries, including real estate rental and leasing, manufacturing, healthcare, wholesale trade, construction, and agriculture, among others. Most of Old National’s lending activity occurs within our principal geographic markets in the Midwest and Southeast regions of the United States. Old National manages concentrations of credit exposure by industry, product, geography, client relationship, and loan size.

Old National has loan participations, which qualify as participating interests, with other financial institutions. At September 30, 2024, these loans totaled $3.4 billion, of which $1.5 billion had been sold to other financial institutions and $1.9 billion was retained by Old National. The loan participations convey proportionate ownership rights with equal priority to each participating interest holder; involve no recourse (other than ordinary representations and warranties) to, or subordination by, any participating interest holder; all cash flows are divided

The loan categories used to monitor and analyze interest income and yields are different than the portfolio segments used to determine the allowance for credit losses on loans. The allowance for credit losses was calculated by pooling loans of similar credit risk characteristics and credit monitoring procedures. The four loan portfolios used to monitor and analyze interest income and yields – commercial, commercial real estate, residential real estate, and consumer – are reclassified into seven segments of loans – commercial, commercial real estate, BBCC, residential real estate, indirect, direct, and home equity for purposes of determining the allowance for credit losses on loans. The commercial and commercial real estate loan categories shown on the balance sheet include the same pool of loans as the commercial, commercial real estate, and BBCC portfolio segments. The consumer loan category shown on the balance sheet is comprised of the same loans in the indirect, direct, and home equity portfolio segments. The portfolio segment reclassifications follow:


	Balance Sheet Line Item		Portfolio Segment Reclassifications		Portfolio Segment After Reclassifications

(dollars in thousands)
September 30, 2024
Commercial (1)	$	10,408,095	$	(224,732)	$	10,183,363
Commercial real estate	16,356,216		(175,628)		16,180,588
BBCC	N/A		400,360		400,360
Residential real estate	6,757,896		—		6,757,896
Consumer	2,878,436		(2,878,436)		N/A
Indirect	N/A		1,096,234		1,096,234
Direct	N/A		419,201		419,201
Home equity	N/A		1,363,001		1,363,001
Total loans (2)	$	36,400,643	$	—	$	36,400,643
Allowance for credit losses on loans	(380,840)		—		(380,840)
Net loans	$	36,019,803	$	—	$	36,019,803

December 31, 2023
Commercial (1)	$	9,512,230	$	(232,764)	$	9,279,466
Commercial real estate	14,140,629		(169,058)		13,971,571
BBCC	N/A		401,822		401,822
Residential real estate	6,699,443		—		6,699,443
Consumer	2,639,625		(2,639,625)		N/A
Indirect	N/A		1,050,982		1,050,982
Direct	N/A		523,172		523,172
Home equity	N/A		1,065,471		1,065,471
Total loans (2)	$	32,991,927	$	—	$	32,991,927
Allowance for credit losses on loans	(307,610)		—		(307,610)
Net loans	$	32,684,317	$	—	$	32,684,317

Commercial loans are classified primarily on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its clients.

Commercial real estate loans are classified primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing Old National’s commercial real estate portfolio are diverse in terms of type and geographic location. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner-occupied loans.

Included with commercial real estate are construction loans, which are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, financial analysis of the developers and property owners, and feasibility studies, if available. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders (including Old National), sales of developed property, or an interim loan commitment from Old National until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions, and the availability of long-term financing.

BBCC loans are typically granted to small businesses with gross revenues of less than $5 million and aggregate debt of less than $1 million. Old National has established minimum debt service coverage ratios, minimum FICO scores for owners and guarantors, and the ability to show relatively stable earnings as criteria to help mitigate risk. Repayment of these loans depends on the personal income of the borrowers and the cash flows of the business. These factors can be affected by such changes as economic conditions and unemployment levels.

With respect to residential loans that are secured by 1 - 4 family residences and are generally owner occupied, Old National typically establishes a maximum loan-to-value ratio and generally requires private mortgage insurance if that ratio is exceeded. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in residential property values. Portfolio risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers.

Indirect loans are secured by automobile collateral, generally new and used cars and trucks from auto dealers that operate within our footprint. Old National typically mitigates the risk of indirect loans by establishing minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers and ongoing reviews of dealer relationships.

Direct loans are typically secured by collateral such as auto or real estate or are unsecured. Old National has established underwriting standards such as minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers.

Home equity loans are generally secured by 1-4 family residences that are owner-occupied. Old National has established underwriting standards such as minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers, along with monitoring of updated borrower credit scores.

Credit loss assumptions used when computing the level of expected credit losses are estimated using a model that categorizes loan pools based on loss history, delinquency status, and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. The base forecast scenario considers unemployment, gross domestic product, and the BBB ratio (BBB spread to the 10-year U.S. Treasury rate). In addition to the quantitative inputs, several qualitative factors are considered. These factors include the risk that unemployment, gross domestic product, housing product index, and the BBB ratio prove to be more severe and/or prolonged than our baseline forecast due to a variety of factors including monetary actions to control inflation, recent instability in the banking sector, global military conflicts, and global trade issues. Old National’s activity in the allowance for credit losses on loans by portfolio segment was as follows:


(dollars in thousands)	Balance at Beginning of Period		Allowance Established for Acquired PCD Loans		Charge-offs		Recoveries		Provision for Loan Losses		Balance at End of Period
Three Months Ended September 30, 2024
Commercial	$	138,460	$	3,245	$	(11,512)	$	308	$	6,341	$	136,842
Commercial real estate	189,911		(442)		(2,799)		214		18,015		204,899
BBCC	2,897		—		(676)		56		415		2,692
Residential real estate	23,135		—		—		64		(1,711)		21,488
Indirect	1,233		—		(1,715)		290		5,853		5,661
Direct	3,131		—		(2,137)		475		958		2,427
Home equity	7,568		—		(126)		84		(695)		6,831
Total	$	366,335	$	2,803	$	(18,965)	$	1,491	$	29,176	$	380,840
Three Months Ended September 30, 2023
Commercial	$	127,403	$	—	$	(16,705)	$	1,616	$	12,441	$	124,755
Commercial real estate	136,897		—		(2,291)		102		10,267		144,975
BBCC	2,776		—		(1,049)		70		912		2,709
Residential real estate	20,421		—		(15)		28		346		20,780
Indirect	1,407		—		(490)		325		79		1,321
Direct	4,755		—		(2,180)		580		416		3,571
Home equity	6,896		—		(20)		341		(1,346)		5,871
Total	$	300,555	$	—	$	(22,750)	$	3,062	$	23,115	$	303,982
Nine Months Ended September 30, 2024
Commercial	$	118,333	$	17,838	$	(25,098)	$	1,104	$	24,665	$	136,842
Commercial real estate	155,099		8,041		(12,541)		1,791		52,509		204,899
BBCC	2,887		—		(1,687)		304		1,188		2,692
Residential real estate	20,837		134		—		845		(328)		21,488
Indirect	1,236		—		(3,937)		957		7,405		5,661
Direct	3,169		59		(6,449)		1,527		4,121		2,427
Home equity	6,049		653		(314)		229		214		6,831
Total	$	307,610	$	26,725	$	(50,026)	$	6,757	$	89,774	$	380,840
Nine Months Ended September 30, 2023
Commercial	$	120,612	$	—	$	(37,459)	$	3,713	$	37,889	$	124,755
Commercial real estate	138,244		—		(5,938)		1,394		11,275		144,975
BBCC	2,431		—		(1,171)		174		1,275		2,709
Residential real estate	21,916		—		(256)		153		(1,033)		20,780
Indirect	1,532		—		(2,089)		1,349		529		1,321
Direct	12,116		—		(8,018)		1,798		(2,325)		3,571
Home equity	6,820		—		(330)		471		(1,090)		5,871
Total	$	303,671	$	—	$	(55,261)	$	9,052	$	46,520	$	303,982

The allowance for credit losses on loans at September 30, 2024 included $26.7 million of allowance for credit losses on acquired PCD loans established through acquisition accounting adjustments on or after the CapStar acquisition date. In addition, the provision for credit losses on loans in the nine months ended September 30, 2024 included $15.3 million to establish an allowance for credit losses on non-PCD loans acquired in the CapStar transaction.

Old National maintains an allowance for credit losses on unfunded loan commitments to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses on loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the balance sheet within accrued expenses and other liabilities, while the corresponding provision for unfunded loan commitments is included in the provision for credit losses. Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
(dollars in thousands)	2024		2023		2024		2023
Allowance for credit losses on unfunded loan commitments:
Balance at beginning of period	$	25,733	$	37,007	$	31,226	$	32,188
Provision for credit losses on unfunded loan commitments acquired during the period	—		—		1,763		—
Provision (release) for credit losses on unfunded loan commitments	(679)		(4,047)		(7,935)		772
Balance at end of period	$	25,054	$	32,960	$	25,054	$	32,960

Old National’s management monitors the credit quality of its loans on an ongoing basis with the AQR for commercial, commercial real estate, and BBCC loans reviewed annually or at renewal and the performance of its residential and consumer loans based upon the accrual status refreshed at least quarterly. Internally, management assigns an AQR to each non-homogeneous commercial, commercial real estate, and BBCC loan in the portfolio. The primary determinants of the AQR are the reliability of the primary source of repayment and the past, present, and projected financial condition of the borrower. The AQR will also consider current industry conditions. Major factors used in determining the AQR can vary based on the nature of the loan, but commonly include factors such as debt service coverage, internal cash flow, liquidity, leverage, operating performance, debt burden, FICO scores, occupancy, interest rate sensitivity, and expense burden. Old National uses the following definitions for risk ratings:


(dollars in thousands)	Origination Year														Revolving to Term
	2024		2023		2022		2021		2020		Prior		Revolving				Total
September 30, 2024
Commercial:

Pass	$	1,555,665	$	1,519,627	$	1,243,415	$	734,457	$	467,036	$	636,137	$	2,560,086	$	657,716	$	9,374,139
Special Mention	34,491		62,344		43,253		14,913		18,003		12,073		120,436		25,235		330,748
Classified:
Substandard	11,204		63,668		97,872		32,674		21,667		26,861		89,643		29,742		373,331
Nonaccrual	352		812		2,723		792		637		2,354		242		4,813		12,725
Doubtful	1,460		11,485		25,610		7,640		5,726		1,226		22,294		16,979		92,420
Total	$	1,603,172	$	1,657,936	$	1,412,873	$	790,476	$	513,069	$	678,651	$	2,792,701	$	734,485	$	10,183,363


Commercial real estate:

Pass	$	1,649,355	$	2,584,786	$	3,882,068	$	2,267,541	$	1,407,050	$	1,877,393	$	143,314	$	929,671	$	14,741,178
Special Mention	47,435		35,196		105,531		126,457		49,338		68,825		4,492		56,651		493,925
Classified:
Substandard	62,087		37,197		244,297		62,366		39,810		172,429		1,018		79,285		698,489
Nonaccrual	421		708		4,267		2,881		2,763		15,942		—		361		27,343
Doubtful	7,335		5,675		4,858		53,679		25,556		75,276		—		47,274		219,653
Total	$	1,766,633	$	2,663,562	$	4,241,021	$	2,512,924	$	1,524,517	$	2,209,865	$	148,824	$	1,113,242	$	16,180,588


BBCC:

Pass	$	60,158	$	83,681	$	58,701	$	36,774	$	31,632	$	30,934	$	61,932	$	16,809	$	380,621
Special Mention	392		2,740		1,034		720		723		369		3,818		3,074		12,870
Classified:
Substandard	105		499		145		200		30		226		694		523		2,422
Nonaccrual	—		262		434		347		67		1,010		—		642		2,762
Doubtful	—		231		642		301		15		1		—		495		1,685
Total	$	60,655	$	87,413	$	60,956	$	38,342	$	32,467	$	32,540	$	66,444	$	21,543	$	400,360


	Origination Year														Revolving to Term
	2023		2022		2021		2020		2019		Prior		Revolving				Total
December 31, 2023
Commercial:

Pass	$	1,826,289	$	1,573,669	$	985,964	$	520,883	$	450,911	$	495,979	$	2,051,985	$	651,953	$	8,557,633
Special Mention	20,038		90,031		19,953		36,906		25,756		47,357		89,765		44,348		374,154
Classified:
Substandard	27,271		41,164		27,990		37,618		10,461		29,981		72,703		56,716		303,904
Nonaccrual	32		7,034		—		—		823		3,411		—		5,461		16,761
Doubtful	—		7,261		5,925		4,875		1,742		7,211		—		—		27,014
Total	$	1,873,630	$	1,719,159	$	1,039,832	$	600,282	$	489,693	$	583,939	$	2,214,453	$	758,478	$	9,279,466

Commercial real estate:

Pass	$	2,177,841	$	3,515,702	$	2,563,638	$	1,576,044	$	1,010,351	$	1,161,119	$	103,332	$	960,386	$	13,068,413
Special Mention	69,648		69,946		68,708		27,059		52,107		95,896		3,893		64,730		451,987
Classified:
Substandard	26,638		56,423		21,401		28,983		61,186		49,558		—		48,760		292,949
Nonaccrual	—		21,919		10,706		1,975		1,634		8,632		—		1,400		46,266
Doubtful	5,360		429		30,897		2,306		37,777		35,187		—		—		111,956
Total	$	2,279,487	$	3,664,419	$	2,695,350	$	1,636,367	$	1,163,055	$	1,350,392	$	107,225	$	1,075,276	$	13,971,571

BBCC:

Pass	$	81,102	$	64,583	$	44,307	$	38,086	$	27,557	$	19,028	$	68,807	$	33,361	$	376,831
Special Mention	—		—		857		700		1,001		349		2,144		12,728		17,779
Classified:
Substandard	436		193		252		—		—		604		15		1,006		2,506
Nonaccrual	—		—		482		—		4		1,105		—		1,402		2,993
Doubtful	302		727		254		286		60		84		—		—		1,713
Total	$	81,840	$	65,503	$	46,152	$	39,072	$	28,622	$	21,170	$	70,966	$	48,497	$	401,822

For residential real estate and consumer loan classes, Old National evaluates credit quality based on the aging status of the loan and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. The following table presents the amortized cost of term residential real estate and consumer loans based on payment activity and origination year:


	Origination Year														Revolving to Term
(dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving				Total
September 30, 2024
Residential real estate:
Risk Rating:
Performing	$	371,299	$	488,590	$	1,469,840	$	1,696,514	$	1,605,901	$	1,067,863	$	60	$	277	$	6,700,344
Nonperforming	157		4,145		10,655		5,381		4,283		32,931		—		—		57,552
Total	$	371,456	$	492,735	$	1,480,495	$	1,701,895	$	1,610,184	$	1,100,794	$	60	$	277	$	6,757,896


Indirect:
Risk Rating:
Performing	$	348,367	$	309,592	$	257,064	$	107,785	$	47,552	$	20,760	$	—	$	—	$	1,091,120
Nonperforming	302		1,109		1,575		1,387		413		328		—		—		5,114
Total	$	348,669	$	310,701	$	258,639	$	109,172	$	47,965	$	21,088	$	—	$	—	$	1,096,234


Direct:
Risk Rating:
Performing	$	56,302	$	68,103	$	58,794	$	53,593	$	21,871	$	56,853	$	97,352	$	2,509	$	415,377
Nonperforming	66		307		674		390		593		1,706		2		86		3,824
Total	$	56,368	$	68,410	$	59,468	$	53,983	$	22,464	$	58,559	$	97,354	$	2,595	$	419,201


Home equity:
Risk Rating:
Performing	$	—	$	—	$	262	$	203	$	1,135	$	11,759	$	1,300,266	$	28,857	$	1,342,482
Nonperforming	—		—		1,311		146		244		5,383		3,212		10,223		20,519
Total	$	—	$	—	$	1,573	$	349	$	1,379	$	17,142	$	1,303,478	$	39,080	$	1,363,001


	Origination Year														Revolving to Term
	2023		2022		2021		2020		2019		Prior		Revolving				Total
December 31, 2023
Residential real estate:
Risk Rating:
Performing	$	453,743	$	1,508,671	$	1,836,078	$	1,705,131	$	430,783	$	722,987	$	—	$	279	$	6,657,672
Nonperforming	116		4,563		4,004		3,375		4,078		25,635		—		—		41,771
Total	$	453,859	$	1,513,234	$	1,840,082	$	1,708,506	$	434,861	$	748,622	$	—	$	279	$	6,699,443

Indirect:
Risk Rating:
Performing	$	393,369	$	355,822	$	162,735	$	82,871	$	37,967	$	13,815	$	—	$	196	$	1,046,775
Nonperforming	372		1,472		1,207		547		318		291		—		—		4,207
Total	$	393,741	$	357,294	$	163,942	$	83,418	$	38,285	$	14,106	$	—	$	196	$	1,050,982

Direct:
Risk Rating:
Performing	$	109,372	$	90,310	$	92,491	$	48,387	$	29,659	$	67,129	$	75,080	$	4,852	$	517,280
Nonperforming	67		531		517		560		210		3,872		124		11		5,892
Total	$	109,439	$	90,841	$	93,008	$	48,947	$	29,869	$	71,001	$	75,204	$	4,863	$	523,172

Home equity:
Risk Rating:
Performing	$	290	$	164	$	160	$	140	$	679	$	4,483	$	1,019,389	$	23,918	$	1,049,223
Nonperforming	—		310		328		404		741		4,327		2,844		7,294		16,248
Total	$	290	$	474	$	488	$	544	$	1,420	$	8,810	$	1,022,233	$	31,212	$	1,065,471


	Origination Year
(dollars in thousands)	2024		2023		2022		2021		2020		Prior		Revolving		Total
Three Months Ended September 30, 2024
Commercial	$	1,234	$	8,031	$	633	$	297	$	840	$	55	$	422		$	11,512
Commercial real estate	—		140		61		44		—		2,554		—			2,799
BBCC	—		481		164		21		—		10		—			676
Residential real estate	—		—		—		—		—		—		—			—
Indirect	199		797		360		110		41		208		—			1,715
Direct	8		97		398		475		224		214		721			2,137
Home equity	—		—		—		—		—		126		—			126
Total gross charge-offs	$	1,441	$	9,546	$	1,616	$	947	$	1,105	$	3,167	$	1,143		$	18,965

	Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving		Total
Three Months Ended September 30, 2023
Commercial	$	—	$	4,154	$	12,271	$	—	$	—	$	63	$	217		$	16,705
Commercial real estate	—		—		—		1,744		—		547		—			2,291
BBCC	499		501		49		—		—		—		—			1,049
Residential real estate	—		—		—		—		—		15		—			15
Indirect	75		276		86		12		10		31		—			490
Direct	19		429		423		112		270		60		867			2,180
Home equity	—		—		—		—		—		20		—			20
Total gross charge-offs	$	593	$	5,360	$	12,829	$	1,868	$	280	$	736	$	1,084		$	22,750

	Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving		Total
Nine Months Ended September 30, 2024
Commercial	$	1,234	$	10,389	$	10,263	$	719	$	891	$	625	$	977		$	25,098
Commercial real estate	—		140		84		2,688		—		9,629		—			12,541
BBCC	—		1,086		393		56		112		40		—			1,687
Residential real estate	—		—		—		—		—		—		—			—
Indirect	253		1,698		1,209		431		80		266		—			3,937
Direct	83		292		1,368		1,351		510		609		2,236			6,449
Home equity	—		—		—		34		—		280		—			314
Total gross charge-offs	$	1,570	$	13,605	$	13,317	$	5,279	$	1,593	$	11,449	$	3,213		$	50,026

	Origination Year
	2023		2022		2021		2020		2019		Prior		Revolving		Total
Nine Months Ended September 30, 2023
Commercial	$	—	$	6,254	$	23,432	$	120	$	6,789	$	302	$	562		$	37,459
Commercial real estate	—		54		735		2,144		—		3,005		—			5,938
BBCC	499		548		77		47		—		—		—			1,171
Residential real estate	—		—		—		—		—		256		—			256
Indirect	85		954		640		153		137		120		—			2,089
Direct	19		1,330		1,805		570		1,011		450		2,833			8,018
Home equity	—		—		—		—		—		330		—			330
Total gross charge-offs	$	603	$	9,140	$	26,689	$	3,034	$	7,937	$	4,463	$	3,395		$	55,261

Old National does not record interest on nonaccrual loans until principal is recovered. For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in the process of collection, or earlier when concern exists as to the ultimate collectability of principal or interest. Interest accrued but not received is reversed against earnings. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans may


(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Current		Total Loans
September 30, 2024
Commercial	$	11,690	$	6,213	$	35,974	$	53,877	$	10,129,486	$	10,183,363
Commercial real estate	20,125		38,395		39,891		98,411		16,082,177		16,180,588
BBCC	1,095		—		1,361		2,456		397,904		400,360
Residential	5,817		740		2,489		9,046		6,748,850		6,757,896
Indirect	7,702		2,088		1,298		11,088		1,085,146		1,096,234
Direct	2,172		1,029		1,460		4,661		414,540		419,201
Home equity	5,339		3,791		7,187		16,317		1,346,684		1,363,001
Total	$	53,940	$	52,256	$	89,660	$	195,856	$	36,204,787	$	36,400,643

December 31, 2023
Commercial	$	16,128	$	1,332	$	4,861	$	22,321	$	9,257,145	$	9,279,466
Commercial real estate	9,081		5,254		30,660		44,995		13,926,576		13,971,571
BBCC	1,368		134		977		2,479		399,343		401,822
Residential	12,358		367		15,249		27,974		6,671,469		6,699,443
Indirect	7,025		1,854		1,342		10,221		1,040,761		1,050,982
Direct	5,436		1,455		1,787		8,678		514,494		523,172
Home equity	7,791		2,347		6,659		16,797		1,048,674		1,065,471
Total	$	59,187	$	12,743	$	61,535	$	133,465	$	32,858,462	$	32,991,927


	September 30, 2024						December 31, 2023
(dollars in thousands)	Nonaccrual Amortized Cost		Nonaccrual With No Related Allowance		Past Due 90 Days or More and Accruing		Nonaccrual Amortized Cost		Nonaccrual With No Related Allowance		Past Due 90 Days or More and Accruing
Commercial	$	105,145	$	32,436	$	477	$	43,775	$	13,143	$	242
Commercial real estate	246,996		40,356		90		158,222		24,507		585
BBCC	4,447		—		80		4,706		—		95
Residential	57,552		—		—		41,771		—		—
Indirect	5,114		—		160		4,207		—		8
Direct	3,824		—		25		5,892		—		31
Home equity	20,519		—		345		16,248		—		—
Total	$	443,597	$	72,792	$	1,177	$	274,821	$	37,650	$	961

When management determines that foreclosure is probable, expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. A loan is considered collateral dependent when the borrower is experiencing financial difficulty, and the loan is expected to be repaid substantially through the operation or sale of the collateral. The class of loan represents the primary collateral type associated with the loan. Significant quarter-over-quarter changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraisal value. The following table presents the amortized cost basis of collateral dependent loans by class of loan:


	Type of Collateral
(dollars in thousands)	Real Estate		Blanket Lien		Investment Securities/Cash		Auto		Other
September 30, 2024
Commercial	$	18,944	$	64,073	$	4,481	$	8,971	$	4,258
Commercial real estate	240,163		1,552		2,106		—		120
BBCC	3,185		842		97		323		—
Residential	57,552		—		—		—		—
Indirect	—		—		—		5,114		—
Direct	2,891		40		5		383		26
Home equity	20,519		—		—		—		—
Total loans	$	343,254	$	66,507	$	6,689	$	14,791	$	4,404

December 31, 2023
Commercial	$	14,303	$	24,729	$	2,577	$	280	$	328
Commercial real estate	146,425		—		1,167		—		6,107
BBCC	3,522		794		—		390		—
Residential	41,771		—		—		—		—
Indirect	—		—		—		4,207		—
Direct	4,727		1		3		366		29
Home equity	16,248		—		—		—		—
Total loans	$	226,996	$	25,524	$	3,747	$	5,243	$	6,464


(dollars in thousands)	Term Extension		Payment Delay		Total Class of Loans
Three Months Ended September 30, 2024
Commercial	$	17,969	$	4,776	0.2	%
Commercial real estate	11,121		2,554		0.1	%





Total	$	29,090	$	7,330	0.1	%

Three Months Ended September 30, 2023
Commercial	$	3,502	$	—	0.0	%
Commercial real estate	93,844		—		0.7	%





Total	$	97,346	$	—	0.3	%

Nine Months Ended September 30, 2024
Commercial	$	27,085	$	4,776	0.3	%
Commercial real estate	56,051		2,554		0.4	%





Total	$	83,136	$	7,330	0.2	%

Nine Months Ended September 30, 2023
Commercial	$	20,811	$	—	0.2	%
Commercial real estate	116,580		$	—	0.8	%





Total	$	137,391	$	—	0.4	%


(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Current		Total Loans
September 30, 2024
Commercial	$	—	$	—	$	3,854	$	3,854	$	31,861	$	35,715
Commercial real estate	5,707		3,726		21,463		30,896		67,421		98,317





Total	$	5,707	$	3,726	$	25,317	$	34,750	$	99,282	$	134,032

September 30, 2023
Commercial	$	—	$	—	$	2,541	$	2,541	$	18,270	$	20,811
Commercial real estate	1,086		—		—		1,086		115,494		116,580





Total	$	1,086	$	—	$	2,541	$	3,627	$	133,764	$	137,391


(dollars in thousands)	Weighted- Average Term Extension (in months)	Weighted- Average Payment Delay (in months)
Three Months Ended September 30, 2024
Commercial	4.4	6.0
Commercial real estate	6.5	7.0





Total	5.2	6.4

Three Months Ended September 30, 2023
Commercial	7.3	—
Commercial real estate	9.2	—





Total	9.2	—

Nine Months Ended September 30, 2024
Commercial	6.8	6.0
Commercial real estate	8.8	7.0





Total	8.2	6.4

Nine Months Ended September 30, 2023
Commercial	5.7	—
Commercial real estate	8.9	—





Total	8.4	—

There were payment defaults on $3.9 million and $25.3 million of loans during the three and nine months ended September 30, 2024, respectively, to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on loans. There were no payment defaults during the three and nine months ended September 30, 2023 on loans that had been modified within the previous twelve months.