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Loans and the Allowance for Credit Losses (Tables) | 3 Months Ended
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Mar. 31, 2025
Financing Receivable, Allowance for Credit Loss [Line Items] |
Schedule of Recorded Investment in Loans by Category | The recorded investment in loans is presented in the Consolidated Balance Sheets net of deferred loan fees and costs, and discounts on purchased loans. Net deferred loan costs were $12.6 million and $11.9 million at March 31, 2025 and December 31, 2024, respectively. The unaccreted discount on purchased loans from acquisitions was $351.6 million at March 31, 2025 and $10.5 million at December 31, 2024.
|  | March 31, |  |  | December 31, |
(unaudited, in thousands) |  | 2025 |  |  | 2024 |
Commercial real estate: |  |  |  |  |  |
Land and construction |  | $ | 1,779,108 |  |  | $ | 1,352,083 |
Improved property |  |  | 8,722,738 |  |  |  | 5,974,598 |
Total commercial real estate |  |  | 10,501,846 |  |  |  | 7,326,681 |
Commercial and industrial |  |  | 2,781,728 |  |  |  | 1,787,277 |
Residential real estate |  |  | 3,930,667 |  |  |  | 2,520,086 |
Home equity |  |  | 1,020,929 |  |  |  | 821,110 |
Consumer |  |  | 438,578 |  |  |  | 201,275 |
Total portfolio loans |  |  | 18,673,748 |  |  |  | 12,656,429 |
Loans held for sale |  |  | 243,281 |  |  |  | 18,695 |
Total loans |  | $ | 18,917,029 |  |  | $ | 12,675,124 |
Summary of Changes in Allowance for Credit Losses | The following tables summarize changes in the allowance for credit losses applicable to each category of the loan portfolio:
|  | Allowance for Credit Losses By Category |
|  | For the Three Months Ended March 31, 2025 and 2024 |
(unaudited, in thousands) |  | Commercial Real Estate - Land and Construction |  |  | Commercial Real Estate- Improved Property |  |  | Commercial & Industrial |  |  | Residential Real Estate |  |  | Home Equity |  |  | Consumer |  |  | Deposit Overdrafts (1) |  |  | Total |
Balance at December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses - loans |  | $ | 8,411 |  |  | $ | 59,828 |  |  | $ | 42,398 |  |  | $ | 21,790 |  |  | $ | 1,235 |  |  | $ | 3,391 |  |  | $ | 1,713 |  |  | $ | 138,766 |
Allowance for credit losses - loan commitments |  |  | 5,105 |  |  |  | — |  |  |  | — |  |  |  | 1,015 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,120 |
Total beginning allowance for credit losses - loans and loan commitments |  |  | 13,516 |  |  |  | 59,828 |  |  |  | 42,398 |  |  |  | 22,805 |  |  |  | 1,235 |  |  |  | 3,391 |  |  |  | 1,713 |  |  |  | 144,886 |
Initial allowance for credit losses on acquired PCD loans |  |  | 177 |  |  |  | 5,369 |  |  |  | 16,632 |  |  |  | 3,192 |  |  |  | 604 |  |  |  | 3,095 |  |  |  | — |  |  |  | 29,069 |
Provision for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for loan losses |  |  | 2,747 |  |  |  | 29,364 |  |  |  | 20,316 |  |  |  | 7,739 |  |  |  | 663 |  |  |  | 7,386 |  |  |  | 338 |  |  |  | 68,553 |
Provision for loan commitments |  |  | 511 |  |  |  | — |  |  |  | — |  |  |  | (183 | ) |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | 339 |
Total provision for credit losses - loans and loan commitments (2) |  |  | 3,258 |  |  |  | 29,364 |  |  |  | 20,316 |  |  |  | 7,556 |  |  |  | 663 |  |  |  | 7,397 |  |  |  | 338 |  |  |  | 68,892 |
Charge-offs |  |  | — |  |  |  | (33 | ) |  |  | (1,020 | ) |  |  | (221 | ) |  |  | (493 | ) |  |  | (1,822 | ) |  |  | (416 | ) |  |  | (4,005 | )
Recoveries |  |  | — |  |  |  | 15 |  |  |  | 437 |  |  |  | 125 |  |  |  | 156 |  |  |  | 386 |  |  |  | 115 |  |  |  | 1,234 |
Net (charge-offs) recoveries (3) |  |  | — |  |  |  | (18 | ) |  |  | (583 | ) |  |  | (96 | ) |  |  | (337 | ) |  |  | (1,436 | ) |  |  | (301 | ) |  |  | (2,771 | )
Balance at March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses - loans |  |  | 11,335 |  |  |  | 94,543 |  |  |  | 78,763 |  |  |  | 32,625 |  |  |  | 2,165 |  |  |  | 12,436 |  |  |  | 1,750 |  |  |  | 233,617 |
Allowance for credit losses - loan commitments |  |  | 5,616 |  |  |  | — |  |  |  | — |  |  |  | 832 |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | 6,459 |
Total ending allowance for credit losses - loans and loan commitments |  | $ | 16,951 |  |  | $ | 94,543 |  |  | $ | 78,763 |  |  | $ | 33,457 |  |  | $ | 2,165 |  |  | $ | 12,447 |  |  | $ | 1,750 |  |  | $ | 240,076 |
Balance at December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses - loans |  | $ | 7,123 |  |  | $ | 59,351 |  |  | $ | 36,644 |  |  | $ | 21,218 |  |  | $ | 1,017 |  |  | $ | 3,956 |  |  | $ | 1,366 |  |  | $ | 130,675 |
Allowance for credit losses - loan commitments |  |  | 6,894 |  |  |  | — |  |  |  | 429 |  |  |  | 1,276 |  |  |  | 5 |  |  |  | — |  |  |  | — |  |  |  | 8,604 |
Total beginning allowance for credit losses - loans and loan commitments |  |  | 14,017 |  |  |  | 59,351 |  |  |  | 37,073 |  |  |  | 22,494 |  |  |  | 1,022 |  |  |  | 3,956 |  |  |  | 1,366 |  |  |  | 139,279 |
Provision for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Provision for loan losses |  |  | 858 |  |  |  | (3,621 | ) |  |  | 5,806 |  |  |  | 650 |  |  |  | 25 |  |  |  | 538 |  |  |  | 194 |  |  |  | 4,450 |
Provision for loan commitments |  |  | (568 | ) |  |  | — |  |  |  | 124 |  |  |  | 9 |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | (429 | )
Total provision for credit losses - loans and loan commitments (2) |  |  | 290 |  |  |  | (3,621 | ) |  |  | 5,930 |  |  |  | 659 |  |  |  | 31 |  |  |  | 538 |  |  |  | 194 |  |  |  | 4,021 |
Charge-offs |  |  | (813 | ) |  |  | (58 | ) |  |  | (4,810 | ) |  |  | (135 | ) |  |  | (216 | ) |  |  | (1,098 | ) |  |  | (453 | ) |  |  | (7,583 | )
Recoveries |  |  | — |  |  |  | 432 |  |  |  | 401 |  |  |  | 34 |  |  |  | 198 |  |  |  | 455 |  |  |  | 128 |  |  |  | 1,648 |
Net (charge-offs) recoveries |  |  | (813 | ) |  |  | 374 |  |  |  | (4,409 | ) |  |  | (101 | ) |  |  | (18 | ) |  |  | (643 | ) |  |  | (325 | ) |  |  | (5,935 | )
Balance at March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses - loans |  |  | 7,168 |  |  |  | 56,104 |  |  |  | 38,041 |  |  |  | 21,767 |  |  |  | 1,024 |  |  |  | 3,851 |  |  |  | 1,235 |  |  |  | 129,190 |
Allowance for credit losses - loan commitments |  |  | 6,326 |  |  |  | — |  |  |  | 553 |  |  |  | 1,285 |  |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 8,175 |
Total ending allowance for credit losses - loans and loan commitments |  | $ | 13,494 |  |  | $ | 56,104 |  |  | $ | 38,594 |  |  | $ | 23,052 |  |  | $ | 1,035 |  |  | $ | 3,851 |  |  | $ | 1,235 |  |  | $ | 137,365 |
(1) Deposit overdrafts of $3.9 million and $4.1 million are included in total portfolio loans for the periods ending March 31, 2025 and March 31, 2024, respectively. (2) The total provision for credit losses - loans and loan commitments is reported in the consolidated statements of income in the provision for credit losses line item, which also includes the provision for credit losses on held-to-maturity securities. For more information on the provision relating to held-to-maturity securities, please see Note 4, "Securities." (3) The charge-offs on the acquired PFC loan portfolio prior to the acquisition were $21.8 million.
Allowance for Credit Losses and Recorded Investments in Loans | The following tables present the allowance for credit losses and recorded investments in loans by category, as of each period-end:
|  | Allowance for Credit Losses and Recorded Investment in Loans |
(unaudited, in thousands) |  | Commercial Real Estate- Land and Construction |  |  | Commercial Real Estate- Improved Property |  |  | Commercial and Industrial |  |  | Residential Real Estate |  |  | Home Equity |  |  | Consumer |  |  | Deposit Overdrafts (1) |  |  | Total |
March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually-evaluated |  | $ | — |  |  | $ | 18,095 |  |  | $ | 6,014 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 24,109 |
Loans collectively-evaluated |  |  | 11,335 |  |  |  | 76,448 |  |  |  | 72,749 |  |  |  | 32,625 |  |  |  | 2,165 |  |  |  | 12,436 |  |  |  | 1,750 |  |  |  | 209,508 |
Loan commitments (2) |  |  | 5,616 |  |  |  | — |  |  |  | — |  |  |  | 832 |  |  |  | — |  |  |  | 11 |  |  |  | — |  |  |  | 6,459 |
Total allowance for credit losses - loans and commitments |  | $ | 16,951 |  |  | $ | 94,543 |  |  | $ | 78,763 |  |  | $ | 33,457 |  |  | $ | 2,165 |  |  | $ | 12,447 |  |  | $ | 1,750 |  |  | $ | 240,076 |
Portfolio loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually-evaluated for credit losses |  | $ | — |  |  | $ | 41,090 |  |  | $ | 6,965 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 48,055 |
Collectively-evaluated for credit losses |  |  | 1,779,108 |  |  |  | 8,681,648 |  |  |  | 2,774,763 |  |  |  | 3,930,667 |  |  |  | 1,020,929 |  |  |  | 438,578 |  |  |  | — |  |  |  | 18,625,693 |
Total portfolio loans |  | $ | 1,779,108 |  |  | $ | 8,722,738 |  |  | $ | 2,781,728 |  |  | $ | 3,930,667 |  |  | $ | 1,020,929 |  |  | $ | 438,578 |  |  | $ | — |  |  | $ | 18,673,748 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Loans individually-evaluated |  | $ | — |  |  | $ | 12,461 |  |  | $ | 5,353 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,814 |
Loans collectively-evaluated |  |  | 8,411 |  |  |  | 47,367 |  |  |  | 37,045 |  |  |  | 21,790 |  |  |  | 1,235 |  |  |  | 3,391 |  |  |  | 1,713 |  |  |  | 120,952 |
Loan commitments (2) |  |  | 5,105 |  |  |  | — |  |  |  | — |  |  |  | 1,015 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 6,120 |
Total allowance for credit losses - loans and commitments |  | $ | 13,516 |  |  | $ | 59,828 |  |  | $ | 42,398 |  |  | $ | 22,805 |  |  | $ | 1,235 |  |  | $ | 3,391 |  |  | $ | 1,713 |  |  | $ | 144,886 |
Portfolio loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually-evaluated for credit losses |  | $ | — |  |  | $ | 45,224 |  |  | $ | 7,116 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 52,340 |
Collectively-evaluated for credit losses |  |  | 1,352,083 |  |  |  | 5,929,374 |  |  |  | 1,780,161 |  |  |  | 2,520,086 |  |  |  | 821,110 |  |  |  | 201,275 |  |  |  | — |  |  |  | 12,604,089 |
Total portfolio loans |  | $ | 1,352,083 |  |  | $ | 5,974,598 |  |  | $ | 1,787,277 |  |  | $ | 2,520,086 |  |  | $ | 821,110 |  |  | $ | 201,275 |  |  | $ | — |  |  | $ | 12,656,429 |
(1) Deposit overdrafts of $3.9 million and $13.8 million are included in total portfolio loans for the periods ending March 31, 2025 and December 31, 2024, respectively. (2) For additional detail relating to loan commitments, see Note 13, "Commitments and Contingent Liabilities."
Summary of Commercial Loans by Risk Grade | The following tables summarize commercial loans by their assigned risk grade:
|  | Commercial Loans by Internally Assigned Risk Grade |
(unaudited, in thousands) |  | Commercial Real Estate- Land and Construction |  |  | Commercial Real Estate- Improved Property |  |  | Commercial & Industrial |  |  | Total Commercial Loans |
As of March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,732,773 |  |  | $ | 8,296,034 |  |  | $ | 2,634,696 |  |  | $ | 12,663,503 |
Criticized - compromised |  |  | 44,847 |  |  |  | 309,529 |  |  |  | 116,243 |  |  |  | 470,619 |
Classified - substandard |  |  | 1,488 |  |  |  | 117,175 |  |  |  | 30,789 |  |  |  | 149,452 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 1,779,108 |  |  | $ | 8,722,738 |  |  | $ | 2,781,728 |  |  | $ | 13,283,574 |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,347,374 |  |  | $ | 5,690,606 |  |  | $ | 1,721,309 |  |  | $ | 8,759,289 |
Criticized - compromised |  |  | 3,873 |  |  |  | 189,322 |  |  |  | 48,805 |  |  |  | 242,000 |
Classified - substandard |  |  | 836 |  |  |  | 94,670 |  |  |  | 17,163 |  |  |  | 112,669 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 1,352,083 |  |  | $ | 5,974,598 |  |  | $ | 1,787,277 |  |  | $ | 9,113,958 |
Summary of Age Analysis of Loan Categories | The following tables summarize the age analysis of all categories of loans:
|  | Age Analysis of Loans |
(unaudited, in thousands) |  | Current |  |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or More Past Due |  |  | Total Past Due |  |  | Total Loans |  |  | 90 Days or More Past Due and Accruing (1) |
As of March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land and construction |  | $ | 1,772,867 |  |  | $ | 4,832 |  |  | $ | 1,376 |  |  | $ | 33 |  |  | $ | 6,241 |  |  | $ | 1,779,108 |  |  | $ | 33 |
Improved property |  |  | 8,663,107 |  |  |  | 30,841 |  |  |  | 4,057 |  |  |  | 24,733 |  |  |  | 59,631 |  |  |  | 8,722,738 |  |  |  | 4,897 |
Total commercial real estate |  |  | 10,435,974 |  |  |  | 35,673 |  |  |  | 5,433 |  |  |  | 24,766 |  |  |  | 65,872 |  |  |  | 10,501,846 |  |  |  | 4,930 |
Commercial and industrial |  |  | 2,759,808 |  |  |  | 6,560 |  |  |  | 3,958 |  |  |  | 11,402 |  |  |  | 21,920 |  |  |  | 2,781,728 |  |  |  | 587 |
Residential real estate |  |  | 3,896,052 |  |  |  | 6,984 |  |  |  | 9,319 |  |  |  | 18,312 |  |  |  | 34,615 |  |  |  | 3,930,667 |  |  |  | 2,813 |
Home equity |  |  | 1,006,045 |  |  |  | 6,422 |  |  |  | 2,332 |  |  |  | 6,130 |  |  |  | 14,884 |  |  |  | 1,020,929 |  |  |  | 1,803 |
Consumer |  |  | 427,484 |  |  |  | 5,963 |  |  |  | 1,849 |  |  |  | 3,282 |  |  |  | 11,094 |  |  |  | 438,578 |  |  |  | 601 |
Total portfolio loans |  |  | 18,525,363 |  |  |  | 61,602 |  |  |  | 22,891 |  |  |  | 63,892 |  |  |  | 148,385 |  |  |  | 18,673,748 |  |  |  | 10,734 |
Loans held for sale |  |  | 243,281 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 243,281 |  |  |  | — |
Total loans |  | $ | 18,768,644 |  |  | $ | 61,602 |  |  | $ | 22,891 |  |  | $ | 63,892 |  |  | $ | 148,385 |  |  | $ | 18,917,029 |  |  | $ | 10,734 |
Nonperforming loans included above are as follows: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-accrual loans |  | $ | 13,593 |  |  | $ | 10,533 |  |  | $ | 4,205 |  |  | $ | 53,158 |  |  | $ | 67,896 |  |  | $ | 81,489 |  |  |  |
As of December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land and construction |  | $ | 1,351,251 |  |  | $ | 832 |  |  | $ | — |  |  | $ | — |  |  | $ | 832 |  |  | $ | 1,352,083 |  |  | $ | — |
Improved property |  |  | 5,935,163 |  |  |  | 7,646 |  |  |  | 8,148 |  |  |  | 23,641 |  |  |  | 39,435 |  |  |  | 5,974,598 |  |  |  | 5,561 |
Total commercial real estate |  |  | 7,286,414 |  |  |  | 8,478 |  |  |  | 8,148 |  |  |  | 23,641 |  |  |  | 40,267 |  |  |  | 7,326,681 |  |  |  | 5,561 |
Commercial and industrial |  |  | 1,772,832 |  |  |  | 957 |  |  |  | 8,872 |  |  |  | 4,616 |  |  |  | 14,445 |  |  |  | 1,787,277 |  |  |  | 3,498 |
Residential real estate |  |  | 2,506,959 |  |  |  | 1,483 |  |  |  | 3,523 |  |  |  | 8,121 |  |  |  | 13,127 |  |  |  | 2,520,086 |  |  |  | 2,489 |
Home equity |  |  | 806,025 |  |  |  | 7,420 |  |  |  | 3,043 |  |  |  | 4,622 |  |  |  | 15,085 |  |  |  | 821,110 |  |  |  | 1,150 |
Consumer |  |  | 195,082 |  |  |  | 3,916 |  |  |  | 1,384 |  |  |  | 893 |  |  |  | 6,193 |  |  |  | 201,275 |  |  |  | 857 |
Total portfolio loans |  |  | 12,567,312 |  |  |  | 22,254 |  |  |  | 24,970 |  |  |  | 41,893 |  |  |  | 89,117 |  |  |  | 12,656,429 |  |  |  | 13,555 |
Loans held for sale |  |  | 18,695 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18,695 |  |  |  | — |
Total loans |  | $ | 12,586,007 |  |  | $ | 22,254 |  |  | $ | 24,970 |  |  | $ | 41,893 |  |  | $ | 89,117 |  |  | $ | 12,675,124 |  |  | $ | 13,555 |
Nonperforming loans included above are as follows: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Non-accrual loans |  | $ | 10,117 |  |  | $ | 684 |  |  | $ | 613 |  |  | $ | 28,338 |  |  | $ | 29,635 |  |  | $ | 39,752 |  |  |  |
Summary of Nonperforming Loans | The following tables summarize nonperforming loans:
|  | Nonperforming Loans |
|  | March 31, 2025 |  |  | December 31, 2024 |
|  | Unpaid |  |  |  |  |  |  |  |  | Unpaid |  |  |  |  |  |  |
|  | Principal |  |  | Recorded |  |  | Related |  |  | Principal |  |  | Recorded |  |  | Related |
(unaudited, in thousands) |  | Balance (1) |  |  | Investment |  |  | Allowance |  |  | Balance (1) |  |  | Investment |  |  | Allowance |
With no related specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land and construction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Improved property |  |  | 27,029 |  |  |  | 24,065 |  |  |  | — |  |  |  | 17,489 |  |  |  | 15,918 |  |  |  | — |
Commercial and industrial |  |  | 11,318 |  |  |  | 10,244 |  |  |  | — |  |  |  | 2,896 |  |  |  | 1,897 |  |  |  | — |
Residential real estate |  |  | 32,857 |  |  |  | 26,002 |  |  |  | — |  |  |  | 17,200 |  |  |  | 12,524 |  |  |  | — |
Home equity |  |  | 10,408 |  |  |  | 7,756 |  |  |  | — |  |  |  | 8,284 |  |  |  | 6,208 |  |  |  | — |
Consumer |  |  | 3,935 |  |  |  | 3,345 |  |  |  | — |  |  |  | 140 |  |  |  | 87 |  |  |  | — |
Total nonperforming loans without a specific allowance |  |  | 85,547 |  |  |  | 71,412 |  |  |  | — |  |  |  | 46,009 |  |  |  | 36,634 |  |  |  | — |
With a specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land and construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Improved property |  |  | 3,118 |  |  |  | 3,118 |  |  |  | 2,107 |  |  |  | 3,118 |  |  |  | 3,118 |  |  |  | 516 |
Commercial and industrial |  |  | 6,959 |  |  |  | 6,959 |  |  |  | 6,014 |  |  |  | — |  |  |  | — |  |  |  | — |
Residential real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Home equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total nonperforming loans with a specific allowance |  |  | 10,077 |  |  |  | 10,077 |  |  |  | 8,121 |  |  |  | 3,118 |  |  |  | 3,118 |  |  |  | 516 |
Total nonperforming loans |  | $ | 95,624 |  |  | $ | 81,489 |  |  | $ | 8,121 |  |  | $ | 49,127 |  |  | $ | 39,752 |  |  | $ | 516 |
(1) The difference between the unpaid principal balance and the recorded investment generally reflects amounts that have been previously charged-off and fair market value adjustments on acquired nonperforming loans.
| Nonperforming Loans |
| For the Three Months Ended |
| March 31, 2025 |  |  | March 31, 2024 |
| Average |  |  | Interest |  |  | Average |  |  | Interest |
| Recorded |  |  | Income |  |  | Recorded |  |  | Income |
(unaudited, in thousands) | Investment |  |  | Recognized |  |  | Investment |  |  | Recognized |
With no related specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Land and construction | $ | — |  |  | $ | — |  |  | $ | 105 |  |  | $ | — |
Improved property |  | 19,992 |  |  |  | — |  |  |  | 11,540 |  |  |  | — |
Commercial and industrial |  | 6,071 |  |  |  | — |  |  |  | 2,303 |  |  |  | — |
Residential real estate |  | 19,263 |  |  |  | — |  |  |  | 11,131 |  |  |  | — |
Home equity |  | 6,982 |  |  |  | — |  |  |  | 4,723 |  |  |  | — |
Consumer |  | 1,716 |  |  |  | — |  |  |  | 62 |  |  |  | — |
Total nonperforming loans without a specific allowance |  | 54,024 |  |  |  | — |  |  |  | 29,864 |  |  |  | — |
With a specific allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |
Land and construction |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Improved property |  | 3,118 |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  | 3,480 |  |  |  | — |  |  |  | — |  |  |  | — |
Total nonperforming loans with a specific allowance |  | 6,598 |  |  |  | — |  |  |  | — |  |  |  | — |
Total nonperforming loans | $ | 60,622 |  |  | $ | — |  |  | $ | 29,864 |  |  | $ | — |
Recorded Investment in Non-Accrual Loans | The following table presents the recorded investment in non-accrual loans:
|  | Non-accrual Loans (1) |
|  | March 31, |  |  | December 31, |
(unaudited, in thousands) |  | 2025 |  |  | 2024 |
Commercial real estate: |  |  |  |  |  |
Land and construction |  | $ | — |  |  | $ | — |
Improved property |  |  | 27,183 |  |  |  | 19,036 |
Total commercial real estate |  |  | 27,183 |  |  |  | 19,036 |
Commercial and industrial |  |  | 17,203 |  |  |  | 1,897 |
Residential real estate |  |  | 26,002 |  |  |  | 12,524 |
Home equity |  |  | 7,756 |  |  |  | 6,208 |
Consumer |  |  | 3,345 |  |  |  | 87 |
Total |  | $ | 81,489 |  |  | $ | 39,752 |
(1) At March 31, 2025, there were twelve borrowers with a loan balance greater than $1.0 million, which totaled $34.7 million, as compared to six borrowers with a loan balance greater than $1.0 million totaling $13.1 million at December 31, 2024. At March 31, 2025, total non-accrual loans included approximately $26.9 million from the PFC acquisition. Total non-accrual loans may include loans that are also restructured for borrowers experiencing financial difficulty. Such loans are also set forth in the following tables.
Summary of Details of Portfolio Loans Modified by Loan Category | The following table displays the details of portfolio loans that were modified during the three months ended March 31, 2025 and 2024 presented by loan category:
|  | For the Three Months Ended March 31, 2025 |
(unaudited, in thousands) |  | Term Extension |  |  | Payment Delay |  |  | Term Extension and Rate Reduction |  |  | Total |  |  | % of Total by Loan Category |
Commercial real estate - land and construction |  | $ | 24,217 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,217 |  |  |  | 1.4 |
Commercial real estate - improved property |  |  | 16,887 |  |  |  | 1,507 |  |  |  | 250 |  |  |  | 18,644 |  |  |  | 0.2 |
Commercial and industrial |  |  | 5,258 |  |  |  | 106 |  |  |  | — |  |  |  | 5,364 |  |  |  | 0.2 |
Residential real estate |  |  | — |  |  |  | 496 |  |  |  | — |  |  |  | 496 |  |  |  | — |
Home equity |  |  | — |  |  |  | 435 |  |  |  | — |  |  |  | 435 |  |  |  | — |
Consumer |  |  | — |  |  |  | 144 |  |  |  | — |  |  |  | 144 |  |  |  | — |
Total |  | $ | 46,362 |  |  | $ | 2,688 |  |  | $ | 250 |  |  | $ | 49,300 |  |  |  | 0.3 |
|  | For the Three Months Ended March 31, 2024 |
(unaudited, in thousands) |  | Term Extension |  |  | Payment Delay |  |  | Term Extension and Rate Reduction |  |  | Total |  |  | Percent of Total by Loan Category |
Commercial real estate - land and construction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  | — |
Commercial real estate - improved property |  |  | 24,989 |  |  |  | — |  |  |  | — |  |  |  | 24,989 |  |  |  | 0.4 |
Commercial and industrial |  |  | — |  |  |  | 41 |  |  |  | — |  |  |  | 41 |  |  |  | — |
Residential real estate |  |  | — |  |  |  | 579 |  |  |  | — |  |  |  | 579 |  |  |  | — |
Home equity |  |  | — |  |  |  | 350 |  |  |  | — |  |  |  | 350 |  |  |  | — |
Consumer |  |  | — |  |  |  | 124 |  |  |  | — |  |  |  | 124 |  |  |  | 0.1 |
Total |  | $ | 24,989 |  |  | $ | 1,094 |  |  | $ | — |  |  | $ | 26,083 |  |  |  | 0.2 |
Unfunded loan commitments on modifications for borrowers experiencing financial difficulty ("MBEFDs") totaled $1.0 million for loans modified during the three months ended March 31, 2025 and $0.5 million for loans modified during the twelve months ended December 31, 2024. These commitments are not included in the tables above.
Summary of Financial Impacts of Loan Modifications and Payment Deferrals to Portfolio Loans | The following table summarizes the financial impacts of loan modifications and payment deferrals made to portfolio loans during the three months ended March 31, 2025 and 2024, presented by loan category:
|  | For the Three Months Ended |  |  | For the Three Months Ended |
|  | March 31, 2025 |  |  | March 31, 2024 |
(unaudited, in thousands) |  | Weighted-Average Term Extension (in months) |  |  | Weighted-Average Term Extension (in months) |
Commercial real estate - land and construction |  |  | 6 |  |  |  | — |
Commercial real estate - improved property |  |  | 9 |  |  |  | 9 |
Commercial and industrial |  |  | 14 |  |  |  | — |
Residential real estate |  |  | — |  |  |  | — |
Home equity |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | — |
Summary of Loans with MBEFDs | The following table summarizes loans with MBEFDs which defaulted (defined as 90 days past due) within 12 months of the loan being modified during the three months ended March 31, 2025 and 2024. Modified loans, including those that have defaulted, are already included in the allowance for credit losses through the various methodologies used to estimate the allowance. As such, no modification to the allowance is recorded specifically due to a modified loan subsequently defaulting.
|  | For the Three Months Ended |  |  | For the Three Months Ended |
|  | March 31, 2025 |  |  | March 31, 2024 |
(unaudited, in thousands) |  | Term Extension |  |  | Payment Delay |  |  | Total |  |  | Term Extension |  |  | Payment Delay |  |  | Total |
Commercial real estate - land and construction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial real estate - improved property |  |  | 3,469 |  |  |  | — |  |  |  | 3,469 |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Residential real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Home equity |  |  | — |  |  |  | 9 |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer |  |  | — |  |  |  | 38 |  |  |  | 38 |  |  |  | — |  |  |  | — |  |  |  | — |
Total loans that subsequently defaulted (1) |  | $ | 3,469 |  |  | $ | 47 |  |  | $ | 3,516 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Summary of Aging Analysis of Portfolio Loans Restructured | The following table presents an aging analysis of portfolio loans by loan category that were modified during the twelve months prior to March 31, 2025 and March 31, 2024.
|  | March 31, 2025 |
(unaudited, in thousands) |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or More Past Due |  |  | Total Past Due |  |  | Current |  |  | Total |
Commercial real estate - land and construction |  | $ | — |  |  | $ | 832 |  |  | $ | — |  |  | $ | 832 |  |  | $ | 24,218 |  |  | $ | 25,050 |
Commercial real estate - improved property |  |  | 4,436 |  |  |  | 3,468 |  |  |  | 7,997 |  |  |  | 15,901 |  |  |  | 77,101 |  |  |  | 93,002 |
Commercial and industrial |  |  | 7 |  |  |  | 31 |  |  |  | 6,995 |  |  |  | 7,033 |  |  |  | 5,749 |  |  |  | 12,782 |
Residential real estate |  |  | 834 |  |  |  | — |  |  |  | 520 |  |  |  | 1,354 |  |  |  | 2,015 |  |  |  | 3,369 |
Home equity |  |  | 248 |  |  |  | 131 |  |  |  | 242 |  |  |  | 621 |  |  |  | 862 |  |  |  | 1,483 |
Consumer |  |  | — |  |  |  | 16 |  |  |  | 80 |  |  |  | 96 |  |  |  | 216 |  |  |  | 312 |
Total modified loans (1) |  | $ | 5,525 |  |  | $ | 4,478 |  |  | $ | 15,834 |  |  | $ | 25,837 |  |  | $ | 110,161 |  |  | $ | 135,998 |
|  | March 31, 2024 |
(unaudited, in thousands) |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or More Past Due |  |  | Total Past Due |  |  | Current |  |  | Total |
Commercial real estate - land and construction |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial real estate - improved property |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 29,041 |  |  |  | 29,041 |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | 41 |  |  |  | 41 |  |  |  | 8,531 |  |  |  | 8,572 |
Residential real estate |  |  | 37 |  |  |  | 68 |  |  |  | 170 |  |  |  | 275 |  |  |  | 1,200 |  |  |  | 1,475 |
Home equity |  |  | 14 |  |  |  | — |  |  |  | 233 |  |  |  | 247 |  |  |  | 1,016 |  |  |  | 1,263 |
Consumer |  |  | 39 |  |  |  | 33 |  |  |  | 9 |  |  |  | 81 |  |  |  | 380 |  |  |  | 461 |
Total modified loans (1) |  | $ | 90 |  |  | $ | 101 |  |  | $ | 453 |  |  | $ | 644 |  |  | $ | 40,168 |  |  | $ | 40,812 |
(1) Represents balance at period end.
Summary of Amortized Cost Basis Loan Balances by Year of Origination and Credit Quality Indicator | The following tables summarize amortized cost basis loan balances by year of origination and credit quality indicator:
|  | Loans As of March 31, 2025 |  |  |  |  |  |  |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |  |
(unaudited, in thousands) |  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | Prior |  |  | Revolving Loans Amortized Cost Basis |  |  | Revolving Loans Converted to Term |  |  | Total |
Commercial real estate: land and construction |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 24,892 |  |  | $ | 373,474 |  |  | $ | 493,485 |  |  | $ | 410,229 |  |  | $ | 81,416 |  |  | $ | 118,871 |  |  | $ | 125,322 |  |  | $ | 105,084 |  |  | $ | 1,732,773 |
Criticized - compromised |  |  | — |  |  |  | 1,771 |  |  |  | 2,434 |  |  |  | 25,287 |  |  |  | 12,625 |  |  |  | 1,039 |  |  |  | 157 |  |  |  | 1,534 |  |  |  | 44,847 |
Classified - substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 656 |  |  |  | — |  |  |  | 832 |  |  |  | 1,488 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 24,892 |  |  | $ | 375,245 |  |  | $ | 495,919 |  |  | $ | 435,516 |  |  | $ | 94,041 |  |  | $ | 120,566 |  |  | $ | 125,479 |  |  | $ | 107,450 |  |  | $ | 1,779,108 |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial real estate: improved property |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 170,601 |  |  | $ | 653,220 |  |  | $ | 587,412 |  |  | $ | 1,633,209 |  |  | $ | 977,864 |  |  | $ | 3,342,086 |  |  | $ | 275,900 |  |  | $ | 655,742 |  |  | $ | 8,296,034 |
Criticized - compromised |  |  | — |  |  |  | 8,059 |  |  |  | 21,021 |  |  |  | 38,561 |  |  |  | 29,305 |  |  |  | 135,051 |  |  |  | 482 |  |  |  | 77,050 |  |  |  | 309,529 |
Classified - substandard |  |  | 250 |  |  |  | 19,673 |  |  |  | 6,409 |  |  |  | 30,279 |  |  |  | 4,465 |  |  |  | 48,900 |  |  |  | 1,576 |  |  |  | 5,623 |  |  |  | 117,175 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 170,851 |  |  | $ | 680,952 |  |  | $ | 614,842 |  |  | $ | 1,702,049 |  |  | $ | 1,011,634 |  |  | $ | 3,526,037 |  |  | $ | 277,958 |  |  | $ | 738,415 |  |  | $ | 8,722,738 |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |  | $ | — |  |  | $ | 18 |  |  | $ | 33 |
Commercial and industrial |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 70,478 |  |  | $ | 306,508 |  |  | $ | 216,220 |  |  | $ | 394,267 |  |  | $ | 223,356 |  |  | $ | 378,733 |  |  | $ | 918,531 |  |  | $ | 126,603 |  |  | $ | 2,634,696 |
Criticized - compromised |  |  | 249 |  |  |  | 9,598 |  |  |  | 9,593 |  |  |  | 9,406 |  |  |  | 8,920 |  |  |  | 13,879 |  |  |  | 57,597 |  |  |  | 7,001 |  |  |  | 116,243 |
Classified - substandard |  |  | — |  |  |  | 1,819 |  |  |  | 254 |  |  |  | 4,530 |  |  |  | 2,908 |  |  |  | 4,123 |  |  |  | 9,300 |  |  |  | 7,855 |  |  |  | 30,789 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 70,727 |  |  | $ | 317,925 |  |  | $ | 226,067 |  |  | $ | 408,203 |  |  | $ | 235,184 |  |  | $ | 396,735 |  |  | $ | 985,428 |  |  | $ | 141,459 |  |  | $ | 2,781,728 |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 461 |  |  | $ | 84 |  |  | $ | 314 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 107 |  |  | $ | 1,020 |
Residential real estate |  |  |  |
Loan delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 36,970 |  |  | $ | 245,025 |  |  | $ | 289,426 |  |  | $ | 772,299 |  |  | $ | 665,505 |  |  | $ | 1,107,935 |  |  | $ | — |  |  | $ | 778,892 |  |  | $ | 3,896,052 |
30-59 days past due |  |  | — |  |  |  | 67 |  |  |  | — |  |  |  | — |  |  |  | 1,391 |  |  |  | 4,796 |  |  |  | — |  |  |  | 730 |  |  |  | 6,984 |
60-89 days past due |  |  | — |  |  |  | 579 |  |  |  | 430 |  |  |  | 1,675 |  |  |  | 1,198 |  |  |  | 5,437 |  |  |  | — |  |  |  | — |  |  |  | 9,319 |
90 days or more past due |  |  | — |  |  |  | 586 |  |  |  | 1,849 |  |  |  | 3,057 |  |  |  | 1,976 |  |  |  | 9,042 |  |  |  | — |  |  |  | 1,802 |  |  |  | 18,312 |
Total |  | $ | 36,970 |  |  | $ | 246,257 |  |  | $ | 291,705 |  |  | $ | 777,031 |  |  | $ | 670,070 |  |  | $ | 1,127,210 |  |  | $ | — |  |  | $ | 781,424 |  |  | $ | 3,930,667 |
Current-period gross charge-offs |  | $ | — |  |  | $ | 11 |  |  | $ | 50 |  |  | $ | 17 |  |  | $ | 2 |  |  | $ | 70 |  |  | $ | — |  |  | $ | 71 |  |  | $ | 221 |
Home equity |  |  |  |
Loan delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 11,847 |  |  | $ | 1,524 |  |  | $ | 1,985 |  |  | $ | 2,827 |  |  | $ | 1,472 |  |  | $ | 39,175 |  |  | $ | 945,852 |  |  | $ | 1,363 |  |  | $ | 1,006,045 |
30-59 days past due |  |  | 154 |  |  |  | 289 |  |  |  | 256 |  |  |  | 628 |  |  |  | 287 |  |  |  | 1,627 |  |  |  | 3,166 |  |  |  | 15 |  |  |  | 6,422 |
60-89 days past due |  |  | — |  |  |  | 264 |  |  |  | 240 |  |  |  | 723 |  |  |  | 185 |  |  |  | 790 |  |  |  | 101 |  |  |  | 29 |  |  |  | 2,332 |
90 days or more past due |  |  | — |  |  |  | 402 |  |  |  | 894 |  |  |  | 919 |  |  |  | 388 |  |  |  | 2,993 |  |  |  | 340 |  |  |  | 194 |  |  |  | 6,130 |
Total |  | $ | 12,001 |  |  | $ | 2,479 |  |  | $ | 3,375 |  |  | $ | 5,097 |  |  | $ | 2,332 |  |  | $ | 44,585 |  |  | $ | 949,459 |  |  | $ | 1,601 |  |  | $ | 1,020,929 |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 221 |  |  | $ | 89 |  |  | $ | 8 |  |  | $ | 172 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 493 |
Consumer |  |  |  |
Loan delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 26,981 |  |  | $ | 101,819 |  |  | $ | 91,213 |  |  | $ | 107,448 |  |  | $ | 34,857 |  |  | $ | 37,006 |  |  | $ | 28,160 |  |  | $ | — |  |  | $ | 427,484 |
30-59 days past due |  |  | 47 |  |  |  | 846 |  |  |  | 1,290 |  |  |  | 1,978 |  |  |  | 685 |  |  |  | 1,110 |  |  |  | 7 |  |  |  | — |  |  |  | 5,963 |
60-89 days past due |  |  | — |  |  |  | 439 |  |  |  | 432 |  |  |  | 601 |  |  |  | 268 |  |  |  | 109 |  |  |  | — |  |  |  | — |  |  |  | 1,849 |
90 days or more past due |  |  | — |  |  |  | 512 |  |  |  | 753 |  |  |  | 1,201 |  |  |  | 457 |  |  |  | 359 |  |  |  | — |  |  |  | — |  |  |  | 3,282 |
Total |  | $ | 27,028 |  |  | $ | 103,616 |  |  | $ | 93,688 |  |  | $ | 111,228 |  |  | $ | 36,267 |  |  | $ | 38,584 |  |  | $ | 28,167 |  |  | $ | — |  |  | $ | 438,578 |
Current-period gross charge-offs |  | $ | — |  |  | $ | 532 |  |  | $ | 341 |  |  | $ | 540 |  |  | $ | 283 |  |  | $ | 126 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,822 |
|  | Loans As of December 31, 2024 |  |  |  |  |  |  |  |  |  |
|  | Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |  |
(in thousands) |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving Loans Amortized Cost Basis |  |  | Revolving Loans Converted to Term |  |  | Total |
Commercial real estate: land and construction |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 245,699 |  |  | $ | 403,923 |  |  | $ | 249,690 |  |  | $ | 84,527 |  |  | $ | 21,316 |  |  | $ | 52,485 |  |  | $ | 145,032 |  |  | $ | 144,702 |  |  | $ | 1,347,374 |
Criticized - compromised |  |  | 1,746 |  |  |  | — |  |  |  | 1,096 |  |  |  | — |  |  |  | — |  |  |  | 10 |  |  |  | 376 |  |  |  | 645 |  |  |  | 3,873 |
Classified - substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | 832 |  |  |  | 836 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 247,445 |  |  | $ | 403,923 |  |  | $ | 250,786 |  |  | $ | 84,527 |  |  | $ | 21,316 |  |  | $ | 52,499 |  |  | $ | 145,408 |  |  | $ | 146,179 |  |  | $ | 1,352,083 |
Current-period gross charge-offs |  | $ | — |  |  | $ | 813 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 813 |
Commercial real estate: improved property |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 542,333 |  |  | $ | 472,746 |  |  | $ | 1,038,745 |  |  | $ | 543,212 |  |  | $ | 512,916 |  |  | $ | 1,897,950 |  |  | $ | 200,572 |  |  | $ | 482,132 |  |  | $ | 5,690,606 |
Criticized - compromised |  |  | 365 |  |  |  | 28,204 |  |  |  | 5,188 |  |  |  | 13,590 |  |  |  | 6,733 |  |  |  | 39,845 |  |  |  | 825 |  |  |  | 94,572 |  |  |  | 189,322 |
Classified - substandard |  |  | 19,746 |  |  |  | 1,836 |  |  |  | 23,393 |  |  |  | 1,186 |  |  |  | 9,952 |  |  |  | 36,142 |  |  |  | 623 |  |  |  | 1,792 |  |  |  | 94,670 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 562,444 |  |  | $ | 502,786 |  |  | $ | 1,067,326 |  |  | $ | 557,988 |  |  | $ | 529,601 |  |  | $ | 1,973,937 |  |  | $ | 202,020 |  |  | $ | 578,496 |  |  | $ | 5,974,598 |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 75 |  |  | $ | 7 |  |  | $ | — |  |  | $ | 855 |  |  | $ | — |  |  | $ | — |  |  | $ | 937 |
Commercial and industrial |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 225,344 |  |  | $ | 139,460 |  |  | $ | 206,252 |  |  | $ | 106,446 |  |  | $ | 48,285 |  |  | $ | 250,438 |  |  | $ | 616,831 |  |  | $ | 128,253 |  |  | $ | 1,721,309 |
Criticized - compromised |  |  | 217 |  |  |  | 7,335 |  |  |  | 3,337 |  |  |  | 921 |  |  |  | 1,597 |  |  |  | 7,660 |  |  |  | 20,464 |  |  |  | 7,274 |  |  |  | 48,805 |
Classified - substandard |  |  | 1,494 |  |  |  | 382 |  |  |  | 1,158 |  |  |  | 1,225 |  |  |  | 65 |  |  |  | 2,639 |  |  |  | 2,460 |  |  |  | 7,740 |  |  |  | 17,163 |
Classified - doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 227,055 |  |  | $ | 147,177 |  |  | $ | 210,747 |  |  | $ | 108,592 |  |  | $ | 49,947 |  |  | $ | 260,737 |  |  | $ | 639,755 |  |  | $ | 143,267 |  |  | $ | 1,787,277 |
Current-period gross charge-offs |  | $ | 48 |  |  | $ | 648 |  |  | $ | 1,048 |  |  | $ | 228 |  |  | $ | 162 |  |  | $ | 1,029 |  |  | $ | 1 |  |  | $ | 7,369 |  |  | $ | 10,533 |
Residential real estate |  |  |  |
Loan delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 201,454 |  |  | $ | 195,121 |  |  | $ | 323,588 |  |  | $ | 397,596 |  |  | $ | 168,526 |  |  | $ | 471,081 |  |  | $ | — |  |  | $ | 749,593 |  |  | $ | 2,506,959 |
30-59 days past due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,483 |  |  |  | — |  |  |  | — |  |  |  | 1,483 |
60-89 days past due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 319 |  |  |  | 37 |  |  |  | 2,763 |  |  |  | — |  |  |  | 404 |  |  |  | 3,523 |
90 days or more past due |  |  | — |  |  |  | 219 |  |  |  | 838 |  |  |  | 128 |  |  |  | 204 |  |  |  | 5,237 |  |  |  | — |  |  |  | 1,495 |  |  |  | 8,121 |
Total |  | $ | 201,454 |  |  | $ | 195,340 |  |  | $ | 324,426 |  |  | $ | 398,043 |  |  | $ | 168,767 |  |  | $ | 480,564 |  |  | $ | — |  |  | $ | 751,492 |  |  | $ | 2,520,086 |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 250 |  |  | $ | — |  |  | $ | 58 |  |  | $ | 308 |
Home equity |  |  |  |
Loan delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 11,504 |  |  | $ | 1,857 |  |  | $ | 2,220 |  |  | $ | 969 |  |  | $ | 2,623 |  |  | $ | 22,444 |  |  | $ | 763,157 |  |  | $ | 1,251 |  |  | $ | 806,025 |
30-59 days past due |  |  | — |  |  |  | 167 |  |  |  | 530 |  |  |  | 65 |  |  |  | 88 |  |  |  | 1,226 |  |  |  | 5,166 |  |  |  | 178 |  |  |  | 7,420 |
60-89 days past due |  |  | — |  |  |  | 656 |  |  |  | 1,170 |  |  |  | 346 |  |  |  | — |  |  |  | 636 |  |  |  | 91 |  |  |  | 144 |  |  |  | 3,043 |
90 days or more past due |  |  | — |  |  |  | 927 |  |  |  | 795 |  |  |  | 235 |  |  |  | 363 |  |  |  | 2,045 |  |  |  | 112 |  |  |  | 145 |  |  |  | 4,622 |
Total |  | $ | 11,504 |  |  | $ | 3,607 |  |  | $ | 4,715 |  |  | $ | 1,615 |  |  | $ | 3,074 |  |  | $ | 26,351 |  |  | $ | 768,526 |  |  | $ | 1,718 |  |  | $ | 821,110 |
Current-period gross charge-offs |  | $ | — |  |  | $ | 355 |  |  | $ | 132 |  |  | $ | 65 |  |  | $ | 35 |  |  | $ | 260 |  |  | $ | 28 |  |  | $ | 119 |  |  | $ | 994 |
Consumer |  |  |  |
Loan delinquency: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 51,073 |  |  | $ | 55,821 |  |  | $ | 36,994 |  |  | $ | 11,744 |  |  | $ | 5,640 |  |  | $ | 9,270 |  |  | $ | 24,540 |  |  | $ | — |  |  | $ | 195,082 |
30-59 days past due |  |  | 774 |  |  |  | 1,225 |  |  |  | 765 |  |  |  | 602 |  |  |  | 205 |  |  |  | 197 |  |  |  | 148 |  |  |  | — |  |  |  | 3,916 |
60-89 days past due |  |  | 271 |  |  |  | 327 |  |  |  | 517 |  |  |  | 161 |  |  |  | 51 |  |  |  | 57 |  |  |  | — |  |  |  | — |  |  |  | 1,384 |
90 days or more past due |  |  | 320 |  |  |  | 235 |  |  |  | 123 |  |  |  | 116 |  |  |  | 34 |  |  |  | 65 |  |  |  | — |  |  |  | — |  |  |  | 893 |
Total |  | $ | 52,438 |  |  | $ | 57,608 |  |  | $ | 38,399 |  |  | $ | 12,623 |  |  | $ | 5,930 |  |  | $ | 9,589 |  |  | $ | 24,688 |  |  | $ | — |  |  | $ | 201,275 |
Current-period gross charge-offs |  | $ | 382 |  |  | $ | 1,578 |  |  | $ | 1,466 |  |  | $ | 497 |  |  | $ | 166 |  |  | $ | 313 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,402 |
Summary of Other Real Estate Owned and Repossessed Assets | The following table summarizes other real estate owned and repossessed assets included in other assets:
|  | March 31, |  |  | December 31, |
(unaudited, in thousands) |  | 2025 |  |  | 2024 |
Other real estate owned |  | $ | 1,310 |  |  | $ | 649 |
Repossessed assets |  |  | 544 |  |  |  | 203 |
Total other real estate owned and repossessed assets |  | $ | 1,854 |  |  | $ | 852 |

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