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Loans and Lease Finance Receivables and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

Sep. 30, 2023

Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans

The following table provides a summary of total loans and lease finance receivables by type.


	September 30, 2024			December 31, 2023
	(Dollars in thousands)
Commercial real estate	$	6,618,637		$	6,784,505
Construction		14,755			66,734
SBA		272,001			270,619
SBA - Paycheck Protection Program (PPP)		1,255			2,736
Commercial and industrial		936,489			969,895
Dairy & livestock and agribusiness		342,445			412,891
Municipal lease finance receivables		67,585			73,590
SFR mortgage		267,181			269,868
Consumer and other loans		52,217			54,072
Total loans, at amortized cost		8,572,565			8,904,910
Less: Allowance for credit losses		(82,942	)		(86,842	)
Total loans and lease finance receivables, net	$	8,489,623		$	8,818,068

Summary of loans by type and origination year, according to our internal risk ratings


	Origination Year												Revolving loans amortized		Revolving loans converted to
September 30, 2024	2024		2023		2022		2021		2020		Prior		cost basis		term loans		Total
	(Dollars in thousands)
Commercial real estate loans:
Risk Rating:
Pass	$	234,801	$	427,623	$	1,262,430	$	1,080,704	$	838,577	$	2,270,791	$	187,981	$	36,610	$	6,339,517
Special Mention		671		4,501		23,795		25,259		17,022		106,569		3,075		1,296		182,188
Substandard		—		244		8,890		6,224		25,309		55,301		964		—		96,932
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Commercial real estate loans:	$	235,472	$	432,368	$	1,295,115	$	1,112,187	$	880,908	$	2,432,661	$	192,020	$	37,906	$	6,618,637
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	2,258	$	—	$	—	$	2,258

Construction loans:
Risk Rating:
Pass	$	2,977	$	1,986	$	7,730	$	—	$	—	$	—	$	—	$	—	$	12,693
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		2,062		—		—		—		—		2,062
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Construction loans:	$	2,977	$	1,986	$	7,730	$	2,062	$	—	$	—	$	—	$	—	$	14,755
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

SBA loans:
Risk Rating:
Pass	$	25,973	$	17,213	$	47,143	$	49,661	$	24,005	$	95,298	$	—	$	—	$	259,293
Special Mention		—		—		—		—		4,736		2,895		—		—		7,631
Substandard		—		—		1,591		—		—		3,486		—		—		5,077
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total SBA loans:	$	25,973	$	17,213	$	48,734	$	49,661	$	28,741	$	101,679	$	—	$	—	$	272,001
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	165	$	—	$	—	$	165

SBA - PPP loans:
Risk Rating:
Pass	$	—	$	—	$	—	$	366	$	889	$	—	$	—	$	—	$	1,255
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—		—
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total SBA - PPP loans:	$	—	$	—	$	—	$	366	$	889	$	—	$	—	$	—	$	1,255
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial and industrial loans:
Risk Rating:
Pass	$	77,027	$	123,195	$	119,246	$	72,164	$	72,604	$	124,580	$	307,261	$	5,131	$	901,208
Special Mention		674		3,414		999		2,357		444		4,370		9,664		5,173		27,095
Substandard		—		1,472		253		79		—		7		2,400		3,975		8,186
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Commercial and industrial loans:	$	77,701	$	128,081	$	120,498	$	74,600	$	73,048	$	128,957	$	319,325	$	14,279	$	936,489
Current YTD Period: Gross charge-offs	$	—	$	—	$	300	$	—	$	—	$	1,186	$	—	$	431	$	1,917


	Origination Year												Revolving loans amortized		Revolving loans converted to
September 30, 2024	2024		2023		2022		2021		2020		Prior		cost basis		term loans		Total
	(Dollars in thousands)
Dairy & livestock and agribusiness loans:
Risk Rating:
Pass	$	427	$	—	$	—	$	642	$	889	$	210	$	286,841	$	—	$	289,009
Special Mention		—		—		—		—		—		—		41,349		408		41,757
Substandard		—		—		—		—		—		60		9,562		2,057		11,679
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Dairy & livestock and agribusiness loans:	$	427	$	—	$	—	$	642	$	889	$	270	$	337,752	$	2,465	$	342,445
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Municipal lease finance receivables loans:
Risk Rating:
Pass	$	1,711	$	—	$	5,345	$	25,008	$	5,354	$	30,026	$	—	$	—	$	67,444
Special Mention		—		—		—		—		—		141		—		—		141
Substandard		—		—		—		—		—		—		—		—		—
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Municipal lease finance receivables loans:	$	1,711	$	—	$	5,345	$	25,008	$	5,354	$	30,167	$	—	$	—	$	67,585
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

SFR mortgage loans:
Risk Rating:
Pass	$	14,861	$	21,171	$	60,051	$	41,849	$	39,384	$	87,473	$	—	$	—	$	264,789
Special Mention		—		—		—		—		902		823		—		294		2,019
Substandard		—		—		—		—		—		373		—		—		373
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total SFR mortgage loans:	$	14,861	$	21,171	$	60,051	$	41,849	$	40,286	$	88,669	$	—	$	294	$	267,181
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer and other loans:
Risk Rating:
Pass	$	4,110	$	3,324	$	2,189	$	2,065	$	359	$	696	$	37,201	$	1,815	$	51,759
Special Mention		—		—		—		157		—		—		4		—		161
Substandard		—		—		—		—		—		—		—		297		297
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Consumer and other loans:	$	4,110	$	3,324	$	2,189	$	2,222	$	359	$	696	$	37,205	$	2,112	$	52,217
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	3	$	4

Total Loans, at amortized cost:
Risk Rating:
Pass	$	361,887	$	594,512	$	1,504,134	$	1,272,459	$	982,061	$	2,609,074	$	819,284	$	43,556	$	8,186,967
Special Mention		1,345		7,915		24,794		27,773		23,104		114,798		54,092		7,171		260,992
Substandard		—		1,716		10,734		8,365		25,309		59,227		12,926		6,329		124,606
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Loans at amortized cost:	$	363,232	$	604,143	$	1,539,662	$	1,308,597	$	1,030,474	$	2,783,099	$	886,302	$	57,056	$	8,572,565
Current YTD Period: Gross charge-offs	$	—	$	—	$	300	$	—	$	—	$	3,609	$	1	$	434	$	4,344


	Origination Year												Revolving loans amortized		Revolving loans converted to
December 31, 2023	2023		2022		2021		2020		2019		Prior		cost basis		term loans		Total
	(Dollars in thousands)
Commercial real estate loans:
Risk Rating:
Pass	$	447,991	$	1,315,563	$	1,133,331	$	885,590	$	497,541	$	2,041,329	$	171,223	$	38,568	$	6,531,136
Special Mention		3,241		3,897		15,868		19,368		43,824		74,673		2,911		—		163,782
Substandard		744		8,127		2,891		33,401		12,986		30,637		801		—		89,587
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Commercial real estate loans:	$	451,976	$	1,327,587	$	1,152,090	$	938,359	$	554,351	$	2,146,639	$	174,935	$	38,568	$	6,784,505
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Construction loans:
Risk Rating:
Pass	$	1,274	$	15,046	$	22,288	$	8,058	$	—	$	—	$	17,938	$	—	$	64,604
Special Mention		—		—		2,130		—		—		—		—		—		2,130
Substandard		—		—		—		—		—		—		—		—		—
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Construction loans:	$	1,274	$	15,046	$	24,418	$	8,058	$	—	$	—	$	17,938	$	—	$	66,734
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

SBA loans:
Risk Rating:
Pass	$	20,701	$	48,212	$	51,038	$	29,306	$	6,236	$	101,856	$	—	$	—	$	257,349
Special Mention		—		1,627		—		4,784		1,132		1,760		—		—		9,303
Substandard		—		—		—		—		749		3,218		—		—		3,967
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total SBA loans:	$	20,701	$	49,839	$	51,038	$	34,090	$	8,117	$	106,834	$	—	$	—	$	270,619
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	288	$	—	$	—	$	288

SBA - PPP loans:
Risk Rating:
Pass	$	—	$	—	$	699	$	2,037	$	—	$	—	$	—	$	—	$	2,736
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—		—
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total SBA - PPP loans:	$	—	$	—	$	699	$	2,037	$	—	$	—	$	—	$	—	$	2,736
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial and industrial loans:
Risk Rating:
Pass	$	141,080	$	143,847	$	100,059	$	88,743	$	68,352	$	94,027	$	289,539	$	5,460	$	931,107
Special Mention		7,829		738		745		552		4,114		3,986		10,529		5,347		33,840
Substandard		—		257		—		—		89		1,296		2,487		819		4,948
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Commercial and industrial loans:	$	148,909	$	144,842	$	100,804	$	89,295	$	72,555	$	99,309	$	302,555	$	11,626	$	969,895
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	109	$	109


	Origination Year												Revolving loans amortized		Revolving loans converted to
December 31, 2023	2023		2022		2021		2020		2019		Prior		cost basis		term loans		Total
	(Dollars in thousands)
Dairy & livestock and agribusiness loans:
Risk Rating:
Pass	$	296	$	—	$	1,586	$	931	$	80	$	208	$	337,525	$	—	$	340,626
Special Mention		448		—		—		—		25		—		69,232		—		69,705
Substandard		—		—		—		—		—		60		2,500		—		2,560
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Dairy & livestock and agribusiness loans:	$	744	$	—	$	1,586	$	931	$	105	$	268	$	409,257	$	—	$	412,891
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Municipal lease finance receivables loans:
Risk Rating:
Pass	$	—	$	5,735	$	25,803	$	5,981	$	4,267	$	31,622	$	—	$	—	$	73,408
Special Mention		—		—		—		—		—		182		—		—		182
Substandard		—		—		—		—		—		—		—		—		—
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Municipal lease finance receivables loans:	$	—	$	5,735	$	25,803	$	5,981	$	4,267	$	31,804	$	—	$	—	$	73,590
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

SFR mortgage loans:
Risk Rating:
Pass	$	22,248	$	61,070	$	43,573	$	44,076	$	28,049	$	67,750	$	—	$	—	$	266,766
Special Mention		789		—		—		918		544		327		—		—		2,578
Substandard		—		—		—		—		—		200		—		324		524
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total SFR mortgage loans:	$	23,037	$	61,070	$	43,573	$	44,994	$	28,593	$	68,277	$	—	$	324	$	269,868
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Consumer and other loans:
Risk Rating:
Pass	$	4,911	$	4,122	$	2,707	$	702	$	644	$	486	$	38,595	$	871	$	53,038
Special Mention		—		—		246		—		—		—		4		173		423
Substandard		—		—		—		—		—		12		1		598		611
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Consumer and other loans:	$	4,911	$	4,122	$	2,953	$	702	$	644	$	498	$	38,600	$	1,642	$	54,072
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	4	$	—	$	4	$	8

Total Loans, at amortized cost:
Risk Rating:
Pass	$	638,501	$	1,593,595	$	1,381,084	$	1,065,424	$	605,169	$	2,337,278	$	854,820	$	44,899	$	8,520,770
Special Mention		12,307		6,262		18,989		25,622		49,639		80,928		82,676		5,520		281,943
Substandard		744		8,384		2,891		33,401		13,824		35,423		5,789		1,741		102,197
Doubtful & Loss		—		—		—		—		—		—		—		—		—
Total Loans at amortized cost:	$	651,552	$	1,608,241	$	1,402,964	$	1,124,447	$	668,632	$	2,453,629	$	943,285	$	52,160	$	8,904,910
Current YTD Period: Gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	292	$	—	$	113	$	405

Schedule of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans by Type

The following tables present the balance and activity related to the allowance for credit losses for held-for-investment loans by type for the periods presented.


	Three Months Ended September 30, 2024
	Ending Balance June 30, 2024		Charge-offs			Recoveries		Provision for (Recapture of) Credit Losses			Ending Balance September 30, 2024
	(Dollars in thousands)
Commercial real estate	$	69,405	$	—		$	—	$	336		$	69,741
Construction		788		—			56		(391	)		453
SBA		2,496		(26	)		13		25			2,508
Commercial and industrial		5,103		—			113		55			5,271
Dairy & livestock and agribusiness		3,775		—			—		51			3,826
Municipal lease finance receivables		186		—			—		—			186
SFR mortgage		498		—			—		(59	)		439
Consumer and other loans		535		—			—		(17	)		518
Total allowance for credit losses	$	82,786	$	(26	)	$	182	$	—		$	82,942


	Three Months Ended September 30, 2023
	Ending Balance June 30, 2023		Charge-offs			Recoveries		Provision for (Recapture of) Credit Losses			Ending Balance September 30, 2023
	(Dollars in thousands)
Commercial real estate	$	67,943	$	—		$	—	$	2,957		$	70,900
Construction		1,162		—			3		(166	)		999
SBA		2,656		(26	)		48		371			3,049
Commercial and industrial		9,121		—			—		161			9,282
Dairy & livestock and agribusiness		4,960		—			3		(1,396	)		3,567
Municipal lease finance receivables		273		—			—		(27	)		246
SFR mortgage		450		—			—		75			525
Consumer and other loans		402		—			—		25			427
Total allowance for credit losses	$	86,967	$	(26	)	$	54	$	2,000		$	88,995


	Nine Months Ended September 30, 2024
	Ending Balance December 31, 2023		Charge-offs			Recoveries		Provision for (Recapture of) Credit Losses			Ending Balance September 30, 2024
	(Dollars in thousands)
Commercial real estate	$	69,466	$	(2,258	)	$	—	$	2,533		$	69,741
Construction		1,277		—			61		(885	)		453
SBA		2,679		(165	)		94		(100	)		2,508
Commercial and industrial		9,116		(1,917	)		289		(2,217	)		5,271
Dairy & livestock and agribusiness		3,098		—			—		728			3,826
Municipal lease finance receivables		210		—			—		(24	)		186
SFR mortgage		535		—			—		(96	)		439
Consumer and other loans		461		(4	)		—		61			518
Total allowance for credit losses	$	86,842	$	(4,344	)	$	444	$	—		$	82,942


	Nine Months Ended September 30, 2023
	Ending Balance December 31, 2022		Charge-offs			Recoveries		Provision for (Recapture of) Credit Losses			Ending Balance September 30, 2023
	(Dollars in thousands)
Commercial real estate	$	64,806	$	—		$	—	$	6,094		$	70,900
Construction		1,702		—			9		(712	)		999
SBA		2,809		(207	)		69		378			3,049
Commercial and industrial		10,206		(16	)		14		(922	)		9,282
Dairy & livestock and agribusiness		4,400		—			10		(843	)		3,567
Municipal lease finance receivables		296		—			—		(50	)		246
SFR mortgage		366		—			—		159			525
Consumer and other loans		532		(1	)		—		(104	)		427
Total allowance for credit losses	$	85,117	$	(224	)	$	102	$	4,000		$	88,995

Schedule of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans

The following table presents the recorded investment in, and the aging of, past due loans (including nonaccrual loans), by type of loans as of the dates presented.


	September 30, 2024
	30-59 Days Past Due		60-89 Days Past Due		Greater than 89 Days Past Due		Total Past Due		Loans Not Past Due		Total Loans and Financing Receivables
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	1,051	$	736	$	598	$	2,385	$	2,361,999	$	2,364,384
Non-owner occupied		12,899		23,928		10,283		47,110		4,207,143		4,254,253
Construction
Speculative (1)		—		—		—		—		7,892		7,892
Non-speculative		—		—		—		—		6,863		6,863
SBA		109		—		43		152		271,849		272,001
SBA - PPP		—		—		—		—		1,255		1,255
Commercial and industrial		—		64		2,619		2,683		933,806		936,489
Dairy & livestock and agribusiness		—		60		82		142		342,303		342,445
Municipal lease finance receivables		—		—		—		—		67,585		67,585
SFR mortgage		—		—		—		—		267,181		267,181
Consumer and other loans		—		—		—		—		52,217		52,217
Total loans	$	14,059	$	24,788	$	13,625	$	52,472	$	8,520,093	$	8,572,565

(1)

Speculative construction loans are generally for properties where there is no identified buyer or renter.


	December 31, 2023
	30-59 Days Past Due		60-89 Days Past Due		Greater than 89 Days Past Due		Total Past Due		Loans Not Past Due		Total Loans and Financing Receivables
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	300	$	—	$	2,505	$	2,805	$	2,430,447	$	2,433,252
Non-owner occupied		16		—		531		547		4,350,706		4,351,253
Construction
Speculative (1)		—		—		—		—		57,921		57,921
Non-speculative		—		—		—		—		8,813		8,813
SBA		—		108		969		1,077		269,542		270,619
SBA - PPP		—		—		—		—		2,736		2,736
Commercial and industrial		12		—		4,253		4,265		965,630		969,895
Dairy & livestock and agribusiness		—		—		—		—		412,891		412,891
Municipal lease finance receivables		—		—		—		—		73,590		73,590
SFR mortgage		201		—		—		201		269,667		269,868
Consumer and other loans		18		—		—		18		54,054		54,072
Total loans	$	547	$	108	$	8,258	$	8,913	$	8,895,997	$	8,904,910

(1)

Speculative construction loans are generally for properties where there is no identified buyer or renter.

Amortized cost of our finance receivables and loans that are on nonaccrual status, including loans with no allowance are presented as of September 30, 2024 and December 31, 2023 by type of loan.


	September 30, 2024
	Nonaccrual with No Allowance for Credit Losses		Total Nonaccrual (1) (3)		Loans Past Due Over 89 Days Still Accruing
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	598	$	598	$	—
Non-owner occupied		18,196		18,196		—
Construction
Speculative (2)		—		—		—
Non-speculative		—		—		—
SBA		151		151		—
SBA - PPP		—		—		—
Commercial and industrial		2,686		2,825		—
Dairy & livestock and agribusiness		143		143		—
Municipal lease finance receivables		—		—		—
SFR mortgage		—		—		—
Consumer and other loans		—		—		—
Total loans	$	21,774	$	21,913	$	—

(1)

As of September 30, 2024, $206,000 of nonaccruing loans were current, $8.0 million were 30-59 days past due, $60,000 were 60-89 days past due, and $13.6 million were 90+ days past due.

(2)

Speculative construction loans are generally for properties where there is no identified buyer or renter.

(3)

Excludes $165,000 of guaranteed portion of nonaccrual SBA loans that are in process of collection.


	December 31, 2023
	Nonaccrual with No Allowance for Credit Losses		Total Nonaccrual (1)		Loans Past Due Over 89 Days Still Accruing
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	2,505	$	2,505	$	—
Non-owner occupied		548		12,935		—
Construction
Speculative (2)		—		—		—
Non-speculative		—		—		—
SBA		787		969		—
SBA - PPP		—		—		—
Commercial and industrial		908		4,509		—
Dairy & livestock and agribusiness		60		60		—
Municipal lease finance receivables		—		—		—
SFR mortgage		323		324		—
Consumer and other loans		—		—		—
Total loans	$	5,131	$	21,302	$	—

(1)

As of December 31, 2023, $13.0 million of nonaccruing loans were current, $16,000 were 30-59 days past due, and $8.3 million were 90+ days past due.

(2)

Speculative construction loans are generally for properties where there is no identified buyer or renter.

Summary of pledged assets not separately reported on statement of financial position

The following table presents the recorded investment in collateral-dependent loans by type of loans as of the dates presented.


	September 30, 2024						Number of Loans
	Real Estate		Business Assets		Other		Dependent on Collateral
	(Dollars in thousands)
Commercial real estate	$	18,794	$	—	$	—		5
Construction		—		—		—		—
SBA		146		5		—		3
SBA - PPP		—		—		—		—
Commercial and industrial		80		2,744		—		4
Dairy & livestock and agribusiness		60		—		82		2
Municipal lease finance receivables		—		—		—		—
SFR mortgage		—		—		—		—
Consumer and other loans		—		—		—		—
Total collateral-dependent loans	$	19,080	$	2,749	$	82		14


	December 31, 2023						Number of Loans
	Real Estate		Business Assets		Other		Dependent on Collateral
	(Dollars in thousands)
Commercial real estate	$	15,440	$	—	$	—		5
Construction		—		—		—		—
SBA		749		220		—		4
SBA - PPP		—		—		—		—
Commercial and industrial		392		2,950		1,167		8
Dairy & livestock and agribusiness		60		—		—		1
Municipal lease finance receivables		—		—		—		—
SFR mortgage		324		—		—		1
Consumer and other loans		—		—		—		—
Total collateral-dependent loans	$	16,965	$	3,170	$	1,167		19

Summary of Amortized Cost of Loans Activity

September 30, 2024 and September 30, 2023.


	Term Extension					Combination-Term Extension and Interest Rate Reduction
	Amortized Cost Basis		% of Total Class of Financing Receivables			Amortized Cost Basis		% of Total Class of Financing Receivables			Total
September 30, 2024
Commercial real estate loans	$	1,780		0.02	%	$	685		0.01	%	$	2,465
Commercial and industrial		2,785		0.03	%		169		0.00	%		2,954
Dairy & livestock and agribusiness		10,350		0.12	%		—		0.00	%		10,350
Total	$	14,916				$	853				$	15,769

September 30, 2023
Commercial real estate loans	$	1,815		0.02	%		690		0.01	%	$	2,505
Commercial and industrial		—		0.00	%		—		0.00	%		—
Dairy & livestock and agribusiness		4,799		0.05	%		—		0.00	%		4,799
Total	$	6,614				$	690				$	7,304

Summary of Financial Effect of the Loan Activity

The following table describes the financial effect of the loan modifications made to borrowers experiencing financial difficulty during the three months ended September 30, 2024 and September 30, 2023.


Loan Type	Financial Effect
	Term Extension	Combination-Term Extension and Interest Rate Reduction
September 30, 2024
Commercial real estate loans	Added a weighted-average 1.9 years to the life of loans, which reduced monthly payment amounts for the borrowers.	—
Commercial and industrial	Added a weighted-average 1.1 years to the life of loans, which reduced monthly payment amounts for the borrowers.	—
Dairy & livestock and agribusiness	Added a weighted-average 1.3 years to the life of loans, which reduced monthly payment amounts for the borrowers.	—
Commercial real estate loans	—	Added a weighted-average 7.6 years to the life of loans, which reduced monthly payment amounts for the borrowers; reduced weighted-average contractual interest rate from 10% to 7.25%.
Commercial and industrial	—	Added a weighted-average 2.0 years to the life of loans, which reduced monthly payment amounts for the borrowers; reduced weighted-average contractual interest rate from 8.75% to 7.75%.

September 30, 2023
Commercial real estate loans	Added a weighted-average 1.0 years to the life of loans, which reduced monthly payment amounts for the borrowers.	—
Dairy & livestock and agribusiness	Added a weighted-average 0.5 years to the life of loans, which reduced monthly payment amounts for the borrowers.	—
Commercial real estate loans	—	Added a weighted-average 7.6 years to the life of loans, which reduced monthly payment amounts for the borrowers; reduced weighted-average contractual interest rate from 10% to 7.25%.

Summary of Recorded Investments or Past Due Loans At Amortized Cost

The following table presents the recorded investment in, and the aging of, past due loans at amortized cost (including nonaccrual loans), by type of loans, made to borrowers experiencing financial difficulty as of September 30, 2024.


	Payment Status (amortized cost basis)
	Current		30-89 Days Past Due		90+ Days Past Due
	(Dollars in thousands)
Commercial real estate loans	$	2,465	$	—	$	—
Commercial and industrial		2,954		—		—
Dairy & livestock and agribusiness		10,350		—		—
Total	$	15,769	$	—	$	—