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Loans and Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Loans and Allowance for Credit Losses
Note 4    Loans and Allowance for Credit Losses
Loans consisted of the following at the dates indicated (dollars in thousands):
 September 30, 2025December 31, 2024
 
Amortized Cost
Percent of Total Loans
Amortized Cost
Percent of Total Loans
Commercial:
Non-owner occupied commercial real estate$5,820,343 24.6 %$5,652,203 23.3 %
Construction and land714,272 3.0 %561,989 2.3 %
Owner occupied commercial real estate1,943,331 8.2 %1,941,004 8.0 %
Commercial and industrial6,612,538 27.8 %7,042,222 28.9 %
Pinnacle - municipal finance637,198 2.7 %720,661 3.0 %
Franchise and equipment finance
134,635 0.6 %213,477 0.9 %
Mortgage warehouse lending 709,185 3.0 %585,610 2.4 %
 16,571,502 69.9 %16,717,166 68.8 %
Residential:
1-4 single family residential6,199,657 26.2 %6,508,922 26.8 %
Government insured residential931,335 3.9 %1,071,892 4.4 %
7,130,992 30.1 %7,580,814 31.2 %
Total loans23,702,494 100.0 %24,297,980 100.0 %
Allowance for credit losses(219,884)(223,153)
Loans, net$23,482,610 $24,074,827 
Premiums, discounts and deferred fees and costs, excluding the non-credit related discount on PCD loans, totaled $28 million and $33 million at September 30, 2025 and December 31, 2024, respectively. The amortized cost of PCD loans totaled $34 million and $38 million at September 30, 2025 and December 31, 2024, respectively.
Included in loans, net are direct or sales type finance leases totaling $396 million and $459 million at September 30, 2025 and December 31, 2024, respectively. The amount of income recognized from direct or sales type finance leases for the three and nine months ended September 30, 2025 and 2024 totaled $3.2 million, $8.9 million, $3.5 million and $11.4 million, respectively, and is included in interest income on loans in the consolidated statements of income.
During the three and nine months ended September 30, 2025 and 2024, the Company purchased residential loans totaling $62 million, $247 million, $163 million and $290 million, respectively.
At September 30, 2025 and December 31, 2024, the Company had pledged loans with a carrying value of approximately $15.6 billion and $15.8 billion, respectively, as security for FHLB advances and FHLB and Federal Reserve discount window capacity.
Accrued interest receivable on loans totaled $114 million and $120 million at September 30, 2025 and December 31, 2024, respectively, and is included in other assets in the accompanying consolidated balance sheets. The amount of interest income reversed on non-accrual loans was not material for the three and nine months ended September 30, 2025 and 2024.
Allowance for credit losses
Activity in the ACL is summarized below for the periods indicated (in thousands):
Three Months Ended September 30,
 20252024
 CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$208,961 $13,769 $222,730 $219,472 $6,226 $225,698 
Provision (recovery)12,451 (600)11,851 3,495 5,596 9,091 
Charge-offs(15,773)— (15,773)(9,679)(92)(9,771)
Recoveries1,073 3 1,076 3,231 — 3,231 
Ending balance$206,712 $13,172 $219,884 $216,519 $11,730 $228,249 
Nine Months Ended September 30,
 20252024
 CommercialResidentialTotalCommercialResidentialTotal
Beginning balance$211,203 $11,950 $223,153 $195,058 $7,631 $202,689 
Provision
42,089 1,419 43,508 42,498 4,221 46,719 
Charge-offs(52,581)(208)(52,789)(31,131)(126)(31,257)
Recoveries6,001 11 6,012 10,094 4 10,098 
Ending balance$206,712 $13,172 $219,884 $216,519 $11,730 $228,249 
The ACL was determined utilizing a 2-year reasonable and supportable forecast period. The quantitative portion of the ACL was determined by weighting three third-party provided economic scenarios.
The ACL was 0.93% of total loans at September 30, 2025 compared to 0.92% at December 31, 2024. The two most significant factors impacting the ACL for the nine months ended September 30, 2025 were increases in specific reserves, partially offset by net charge-offs. The ACL was also impacted, although to a lesser extent, by an increase in certain qualitative factors and decreases related to (i) improvement in the economic forecast, (ii) changes in portfolio composition and borrower financial performance and (iii) routine modeling and assumption updates.
The following table presents gross charge-offs during the nine months ended September 30, 2025 by year of origination (in thousands):
Gross Charge-offs By Loan Origination Year
 2025
2024
2023
2022
2021
Prior to 2021
Revolving LoansTotal
CRE$— $— $— $3,519 $2,983 $12,030 $— $18,532 
C&I1,616 6,844 3,752 9,833 5 1,019 10,980 34,049 
Residential
— — — 208 — — — 208 
$1,616 $6,844 $3,752 $13,560 $2,988 $13,049 $10,980 $52,789 
The following table presents the components of the provision for credit losses for the periods indicated (in thousands):
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Amount related to funded portion of loans$11,851 $9,091 $43,508 $46,719 
Amount related to off-balance sheet credit exposures(274)157 (1,122)(2,648)
Total provision for credit losses$11,577 $9,248 $42,386 $44,071 
Credit quality information
Credit quality of loans held for investment is continuously monitored by dedicated commercial portfolio management and residential credit risk management functions. The Company also has a workout and recovery department that monitors the credit quality of criticized and classified loans and an independent internal credit review function.
Credit quality indicators for commercial loans
Factors that impact risk inherent in commercial portfolio segments include but are not limited to levels of economic activity or potential disruptions in economic activity, health of the national, regional and to a lesser extent global economies, interest rates, industry trends, demographic trends, inflationary trends, including particularly for commercial real estate loans the cost of insurance, patterns of and trends in customer behavior that influence demand for our borrowers' products and services, and commercial real estate values and related market dynamics. Particularly for the office sector, the evolving impact of hybrid and remote work on vacancies and valuations is a factor. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Internal risk ratings are one indicator of the likelihood that a borrower will default, are a key factor influencing the level and nature of ongoing monitoring of loans and may impact the estimation of the ACL. Internal risk ratings are updated on a continuous basis. Generally, relationships with balances greater than $3 million are re-evaluated at least annually and more frequently if circumstances indicate that a change in risk rating may be warranted. The special mention rating is considered a transitional rating for loans exhibiting potential credit weaknesses that could result in deterioration of repayment prospects at some future date if not checked or corrected and that deserve management’s close attention. These borrowers may exhibit declining cash flows or revenues or increasing leverage. Loans with well-defined credit weaknesses that may result in a loss if the deficiencies are not corrected are assigned a risk rating of substandard. These borrowers may exhibit payment defaults, inadequate cash flows from current operations, operating losses, increasing balance sheet leverage, project cost overruns, unreasonable construction delays, exhausted interest reserves, declining collateral values, frequent overdrafts or past due real estate taxes. Loans with weaknesses so severe that collection in full is highly questionable or improbable, but because of certain reasonably specific pending factors have not been charged off, are assigned an internal risk rating of doubtful. 
Commercial credit exposure based on internal risk rating (in thousands):
September 30, 2025
Amortized Cost By Origination YearRevolving Loans
20252024202320222021PriorTotal
CRE
Pass$1,105,628 $887,542 $888,046 $901,743 $407,950 $1,500,381 $117,486 $5,808,776 
Special mention— — — 21,502 — 33,060 — 54,562 
Substandard— — 18,456 149,072 110,673 393,076 — 671,277 
Total CRE$1,105,628 $887,542 $906,502 $1,072,317 $518,623 $1,926,517 $117,486 $6,534,615 
C&I
Pass$1,075,447 $1,260,610 $944,014 $761,589 $350,640 $1,107,708 $2,573,352 $8,073,360 
Special mention— 7,527 13,346 12,065 5,293 — 43,847 82,078 
Substandard1,255 13,913 52,865 89,004 20,095 124,962 49,708 351,802 
Doubtful9,991 3,928 2,616 8,316 14,955 — 8,823 48,629 
Total C&I$1,086,693 $1,285,978 $1,012,841 $870,974 $390,983 $1,232,670 $2,675,730 $8,555,869 
Pinnacle - municipal finance
Pass$85,705 $37,620 $56,995 $65,322 $43,230 $348,326 $— $637,198 
Total Pinnacle - municipal finance$85,705 $37,620 $56,995 $65,322 $43,230 $348,326 $— $637,198 
Franchise and equipment finance
Pass$— $— $1,838 $3,689 $25,521 $65,669 $20,423 $117,140 
Substandard— — — — — 17,489 — 17,489 
Doubtful— — — — — 6 — 6 
Total Franchise and equipment finance
$— $— $1,838 $3,689 $25,521 $83,164 $20,423 $134,635 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $709,185 $709,185 
Total Mortgage warehouse lending$— $— $— $— $— $— $709,185 $709,185 
December 31, 2024
Amortized Cost By Origination YearRevolving Loans
20242023202220212020PriorTotal
CRE
Pass$921,888 $783,342 $1,119,032 $609,452 $399,806 $1,478,261 $114,648 $5,426,429 
Special mention— — — — 39,714 19,057 — 58,771 
Substandard— 21,853 131,816 121,005 76,590 377,728 — 728,992 
Total CRE$921,888 $805,195 $1,250,848 $730,457 $516,110 $1,875,046 $114,648 $6,214,192 
C&I
Pass$1,514,746 $1,182,701 $962,478 $470,041 $269,508 $1,085,412 $2,931,044 $8,415,930 
Special mention45,092 8,231 73,226 35,581 — — 41,486 203,616 
Substandard— 49,681 74,001 40,108 10,529 101,028 81,798 357,145 
Doubtful— — — — — — 6,535 6,535 
Total C&I$1,559,838 $1,240,613 $1,109,705 $545,730 $280,037 $1,186,440 $3,060,863 $8,983,226 
Pinnacle - municipal finance
Pass$60,317 $108,440 $93,800 $51,034 $24,010 $383,060 $— $720,661 
Total Pinnacle - municipal finance$60,317 $108,440 $93,800 $51,034 $24,010 $383,060 $— $720,661 
Franchise and equipment finance
Pass$— $2,014 $26,408 $54,871 $16,435 $84,879 $174 $184,781 
Substandard— — — 1,486 275 26,614 — 28,375 
Doubtful— — — — — 321 — 321 
Total Franchise and equipment finance
$— $2,014 $26,408 $56,357 $16,710 $111,814 $174 $213,477 
Mortgage warehouse lending
Pass$— $— $— $— $— $— $585,610 $585,610 
Total Mortgage warehouse lending$— $— $— $— $— $— $585,610 $585,610 
At September 30, 2025 and December 31, 2024, the balance of revolving loans converted to term loans was immaterial.
The following table presents criticized and classified commercial loans in aggregate by risk rating category at the dates indicated (in thousands):
September 30, 2025December 31, 2024
Special mention$136,640 $262,387 
Substandard - accruing733,615 894,754 
Substandard - non-accruing306,953 219,758 
Doubtful48,635 6,856 
Total $1,225,843 $1,383,755 
Credit quality indicators for residential loans
Management considers delinquency status to be the most meaningful indicator of the credit quality of residential loans, other than government insured residential loans. Delinquency status is updated at least monthly. LTV and FICO scores are also important indicators of credit quality for 1-4 single family residential loans other than government insured loans. FICO scores are generally updated semi-annually, and were most recently updated in the third quarter of 2025. LTVs are typically at origination. Substantially all of the government insured residential loans are government insured Buyout Loans, which the Company buys out of GNMA securitizations upon default. For these loans, traditional measures of credit quality are not particularly relevant considering the guaranteed nature of the loans and the underlying business model. Factors that impact risk inherent in the residential portfolio segment include national and regional economic conditions such as levels of unemployment, wages and interest rates, as well as residential property values.
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on delinquency status (in thousands):
September 30, 2025
Amortized Cost By Origination Year
Days Past Due
20252024202320222021PriorTotal
Current $175,175 $221,443 $254,376 $946,787 $2,596,718 $1,950,163 $6,144,662 
30 - 59 Days Past Due1,658 275 1,687 2,547 11,126 15,702 32,995 
60 - 89 Days Past Due144 282 187 2,910 931 2,574 7,028 
90 Days or More Past Due149 1,571 72 — 4,652 8,528 14,972 
$177,126 $223,571 $256,322 $952,244 $2,613,427 $1,976,967 $6,199,657 
December 31, 2024
Amortized Cost By Origination Year
Days Past Due
20242023202220212020PriorTotal
Current $251,767 $304,595 $1,012,777 $2,744,941 $798,346 $1,340,402 $6,452,828 
30 - 59 Days Past Due— 3,045 4,948 15,368 474 9,140 32,975 
60 - 89 Days Past Due156 — 1,445 4,007 — 547 6,155 
90 Days or More Past Due— — 2,486 3,457 — 11,021 16,964 
$251,923 $307,640 $1,021,656 $2,767,773 $798,820 $1,361,110 $6,508,922 
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on LTV (in thousands): 
September 30, 2025
Amortized Cost By Origination Year
LTV20252024202320222021PriorTotal
Less than 61%$30,115 $26,649 $44,261 $216,616 $1,057,468 $671,390 $2,046,499 
61% - 70% 30,797 29,641 31,508 248,378 726,409 470,259 1,536,992 
71% - 80%70,671 133,550 148,580 483,789 798,436 801,860 2,436,886 
More than 80%45,543 33,731 31,973 3,461 31,114 33,458 179,280 
$177,126 $223,571 $256,322 $952,244 $2,613,427 $1,976,967 $6,199,657 
December 31, 2024
Amortized Cost By Origination Year
LTV20242023202220212020PriorTotal
Less than 61%$27,646 $51,565 $236,020 $1,124,532 $304,755 $425,814 $2,170,332 
61% - 70% 33,033 42,636 263,959 759,931 203,423 307,052 1,610,034 
71% - 80% 156,942 175,651 518,164 851,427 290,573 590,130 2,582,887 
More than 80%34,302 37,788 3,513 31,883 69 38,114 145,669 
$251,923 $307,640 $1,021,656 $2,767,773 $798,820 $1,361,110 $6,508,922 
1-4 Single Family Residential credit exposure, excluding government insured residential loans, based on FICO score (in thousands):
September 30, 2025
Amortized Cost By Origination Year
FICO20252024202320222021PriorTotal
760 or greater$126,736 $166,459 $188,248 $691,086 $2,090,460 $1,435,230 $4,698,219 
720 - 75938,572 37,598 39,888 146,065 329,908 300,174 892,205 
719 or less or not available
11,818 19,514 28,186 115,093 193,059 241,563 609,233 
$177,126 $223,571 $256,322 $952,244 $2,613,427 $1,976,967 $6,199,657 
December 31, 2024
Amortized Cost By Origination Year
FICO20242023202220212020PriorTotal
760 or greater$179,256 $215,486 $725,399 $2,202,004 $642,572 $952,136 $4,916,853 
720 - 75958,642 59,356 173,309 365,198 95,495 192,943 944,943 
719 or less or not available
14,025 32,798 122,948 200,571 60,753 216,031 647,126 
$251,923 $307,640 $1,021,656 $2,767,773 $798,820 $1,361,110 $6,508,922 
Past Due and Non-Accrual Loans
The following table presents an aging of loans at the dates indicated (in thousands):
 September 30, 2025December 31, 2024
 Current30 - 59
Days Past
Due		60 - 89
Days Past
Due		90 Days or
More Past
Due
Total Amortized Cost
Current30 - 59
Days Past
Due		60 - 89
Days Past
Due		90 Days or
More Past
Due
Total Amortized Cost
CRE$6,460,963 $10,000 $1,344 $62,308 $6,534,615 $6,145,386 $35,000 $— $33,806 $6,214,192 
C&I8,438,213 33,737 35,242 48,677 8,555,869 8,911,057 16,137 25,645 30,387 8,983,226 
Pinnacle - municipal finance637,198 — — — 637,198 720,661 — — — 720,661 
Franchise and equipment finance
134,635 — — — 134,635 213,477 — — — 213,477 
Mortgage warehouse lending 709,185 — — — 709,185 585,610 — — — 585,610 
1-4 single family residential6,144,662 32,995 7,028 14,972 6,199,657 6,452,828 32,975 6,155 16,964 6,508,922 
Government insured residential636,613 93,992 38,023 162,707 931,335 691,111 108,287 46,681 225,813 1,071,892 
 $23,161,469 $170,724 $81,637 $288,664 $23,702,494 $23,720,130 $192,399 $78,481 $306,970 $24,297,980 
Included in the table above is the guaranteed portion of SBA loans past due by 90 days or more totaling $35 million ($27 million of C&I and $8 million of CRE) and $33 million at September 30, 2025 and December 31, 2024, respectively.
Loans contractually delinquent by 90 days or more and still accruing totaled $163 million and $227 million at September 30, 2025 and December 31, 2024, respectively, substantially all of which were government insured residential loans. These loans are Buyout Loans, which the Company buys out of GNMA securitizations upon default.
The following table presents information about loans on non-accrual status at the dates indicated (in thousands):
September 30, 2025December 31, 2024
Amortized CostAmortized Cost With No Related AllowanceAmortized CostAmortized Cost With No Related Allowance
CRE$149,993 $110,920 $95,378 $65,004 
C&I203,486 44,422 125,226 41,929 
Franchise and equipment finance
2,701 1,351 6,010 4,345 
1-4 single family residential23,234 — 23,500 — 
$379,414 $156,693 $250,114 $111,278 
Included in the table above is the guaranteed portion of non-accrual SBA loans totaling $40.0 million and $34.3 million at September 30, 2025 and December 31, 2024, respectively. The amount of interest income recognized on non-accrual loans was insignificant for the three and nine months ended September 30, 2025 and 2024. The amount of additional interest income that would have been recognized on non-accrual loans had they performed in accordance with their contractual terms was not material for the three and nine months ended September 30, 2025 and 2024.
Collateral dependent loans
The following table presents the amortized cost basis of collateral dependent loans at the dates indicated (in thousands):
September 30, 2025December 31, 2024
Amortized CostExtent to Which Secured by CollateralAmortized CostExtent to Which Secured by Collateral
CRE$149,631 $149,208 $94,283 $91,050 
C&I79,483 73,615 87,565 78,150 
Franchise and equipment finance 2,701 2,695 6,010 5,689 
 $231,815 $225,518 $187,858 $174,889 
Collateral for the CRE loan class generally consists of commercial real estate, or for certain construction loans, residential real estate. Collateral for C&I loans generally consists of equipment, accounts receivable, inventory and other business assets and for owner-occupied commercial real estate loans, may also include commercial real estate. Franchise and equipment finance loans may be collateralized by franchise value or by equipment. Residential loans are collateralized by residential real estate. There were no significant changes to the extent to which collateral secured collateral dependent loans during the nine months ended September 30, 2025.
Foreclosure of residential real estate
The recorded investment in residential loans in the process of foreclosure was $108 million, of which $98 million was government insured at September 30, 2025, and $167 million, of which $157 million was government insured at December 31, 2024. The carrying amount of foreclosed residential real estate included in other assets in the accompanying consolidated balance sheet was insignificant at September 30, 2025 and December 31, 2024
Loan Modifications
The following tables summarize loans that were modified for borrowers experiencing financial difficulty, by type of modification, during the periods indicated (dollars in thousands):
Three Months Ended September 30, 2025
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Total
% Modified in Portfolio Segment
CRE$— $28,170 $— $— $— $— $28,170 — %
C&I— 2,194 — — — — 2,194 — %
Government insured residential— 10,450 — 5,678 — — 16,128 2 %
$— $40,814 $— $5,678 $— $— $46,492 — %
Nine Months Ended September 30, 2025
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Total
% Modified in Portfolio Segment
CRE$— $119,337 $— $— $8,830 $— $128,167 2 %
C&I— 5,736 49,310 — — 6,406 61,452 1 %
1-4 single family residential35 — — — — — 35 — %
Government insured residential— 23,651 — 11,337 — — 34,988 4 %
$35 $148,724 $49,310 $11,337 $8,830 $6,406 $224,642 1 %
Three Months Ended September 30, 2024
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Total
% Modified in Portfolio Segment
C&I$— $8 $— $11 $— $— $19 — %
Franchise and equipment finance — 1,700 — — — — 1,700 1 %
Government insured residential— 8,810 — 2,927 — — 11,737 1 %
$— $10,518 $— $2,938 $— $— $13,456 — %
Nine Months Ended September 30, 2024
Combination
Interest Rate ReductionTerm ExtensionOther than Insignificant Payment Delays
Interest Rate Reduction and Term Extension
Interest Rate Reduction and Other than Insignificant Payment Delays
Term Extension and Other than Insignificant Payment Delays
Total
% Modified in Portfolio Segment
CRE$— $1,277 $— $— $— $— $1,277 — %
C&I— 84,618 — 39 — — 84,657 1 %
Franchise and equipment finance — 1,700 — — — — 1,700 1 %
Government insured residential— 23,712 — 4,783 — — 28,495 3 %
$— $111,307 $— $4,822 $— $— $116,129 — %
The following tables summarize the financial effect of the modifications made to borrowers experiencing difficulty, during the periods indicated:
Three Months Ended September 30, 2025
Financial Effect
Term Extension:
CRE
Added a weighted average 3.5 years to the term of the modified loans.
C&I
Added a weighted average 0.3 year to the term of the modified loans.
Government insured residential
Added a weighted average 12.2 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.2% to 6.6% and added a weighted average 3.0 years to the term of the modified loans.
Nine Months Ended September 30, 2025
Financial Effect
Interest Rate Reduction:
1-4 single family residential
Reduced weighted average contractual interest rate from 8.3% to 7.0%.
Term Extension:
CRE
Added a weighted average 1.5 years to the term of the modified loans.
C&I
Added a weighted average 1.2 years to the term of the modified loans.
Government insured residential
Added a weighted average 12.0 years to the term of the modified loans.
Other than Insignificant Payment Delays:
C&I
Provided 0.9 year of payment deferral.
Combination - Interest Rate Reduction and Term Extension:
Government insured residential
Reduced weighted average contractual interest rate from 7.2% to 6.8% and added a weighted average 2.7 years to the term of the modified loans.
Combination - Interest Rate Reduction and Other than Insignificant Payment Delays:
CRE
Reduced weighted average contractual interest rate from 4.3% to 3.5% and provided 0.7 year of payment deferral.
Combination - Term Extension and Other than Insignificant Payment Delays:
C&I
Added a weighted average 0.6 year to the term of the modified loans and provided 1.3 years of payment deferral.
Three Months Ended September 30, 2024
Financial Effect
Term Extension:
C&I
Added a weighted average 1.0 year to the term of the modified loans.
Franchise and equipment finance
Added a weighted average 3.0 years to the term of the modified loans.
Government insured residential
Added a weighted average 10.0 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
C&I
Reduced weighted average contractual interest rate from 22.0% to 8.5% and added a weighted average 2.1 years to the term of the modified loans.
Government insured residential
Reduced weighted average contractual interest rate from 7.5% to 7.0% and added a weighted average 2.2 years to the term of the modified loans.
Nine Months Ended September 30, 2024
Financial Effect
Term Extension:
CRE
Added a weighted average 1.0 year to the term of the modified loans.
C&I
Added a weighted average 1.5 years to the term of the modified loans.
Franchise and equipment finance
Added a weighted average 3.0 years to the term of the modified loans.
Government insured residential
Added a weighted average 10.1 years to the term of the modified loans.
Combination - Interest Rate Reduction and Term Extension:
C&I
Reduced weighted average contractual interest rate from 21.5% to 6.0% and added a weighted average 2.2 years to the term of the modified loans.
Government insured residential
Reduced weighted average contractual interest rate from 7.2% to 6.7% and added a weighted average 5.1 years to the term of the modified loans.
The following tables present the aging at the dates indicated, of loans that were modified within the previous 12 months (in thousands):
September 30, 2025
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$190,459 $— $— $16,450 $206,909 
C&I69,692 18,500 1,996 850 91,038 
1-4 single family residential 35 — 169 — 204 
Government insured residential 14,376 6,627 6,122 14,018 41,143 
$274,562 $25,127 $8,287 $31,318 $339,294 
September 30, 2024
Current 30-59 Days Past Due60-89 Days Past Due 90 Days or More Past DueTotal
CRE$1,277 $— $— $— $1,277 
C&I87,655 28 — — 87,683 
Franchise and equipment finance 10,913 — — — 10,913 
1-4 single family residential 72 — — — 72 
Government insured residential 12,818 6,699 3,973 14,385 37,875 
$112,735 $6,727 $3,973 $14,385 $137,820 
The following tables summarize loans that were modified within the previous 12 months and defaulted during the periods indicated (in thousands):
Three Months Ended September 30,
20252024
Term ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$— $668 $— $668 $— $— $— $— 
Government insured residential8,180 — 3,169 11,349 5,664 — 279 5,943 
$8,180 $668 $3,169 $12,017 $5,664 $— $279 $5,943 
Nine Months Ended September 30,
20252024
Term ExtensionOther than Insignificant Payment Delays Combination - Interest Rate Reduction and Term Extension TotalTerm ExtensionOther than Insignificant Payment DelaysCombination - Interest Rate Reduction and Term ExtensionTotal
C&I$— $1,563 $— $1,563 $— $— $— $— 
Government insured residential 12,920 — 6,617 19,537 16,474 — 4,305 20,779 
$12,920 $1,563 $6,617 $21,100 $16,474 $— $4,305 $20,779