XML 39 R29.htm IDEA: XBRL DOCUMENT
v3.25.1

LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2025
Receivables [Abstract] |
Summary of Composition of Loan Portfolio by Loan Class | The following table illustrates the composition of the Corporation’s loan portfolio by loan class as of the dates indicated.
| March 31, 2025 |  | December 31, 2024
Commercial and industrial loans | $ | 4,306,597 |  |  | $ | 4,114,292 |
Agricultural land, production and other loans to farmers | 243,864 |  |  | 256,312 |
Real estate loans: |  |  |
Construction | 793,175 |  |  | 792,144 |
Commercial real estate, non-owner occupied | 2,177,869 |  |  | 2,274,016 |
Commercial real estate, owner occupied | 1,214,739 |  |  | 1,157,944 |
Residential | 2,389,852 |  |  | 2,374,729 |
Home equity | 650,499 |  |  | 659,811 |
Individuals' loans for household and other personal expenditures | 140,954 |  |  | 166,028 |
Public finance and other commercial loans | 1,087,356 |  |  | 1,059,083 |
Loans | $ | 13,004,905 |  |  | $ | 12,854,359 |
Summary of Credit Quality of Loan Portfolio by Loan Class | The following tables summarize the risk grading of the Corporation’s loan portfolio and gross charge-offs by loan class and by year of origination for the periods indicated. Consumer loans are not risk graded. For the purposes of this disclosure, consumer loans are classified in the following manner: loans that are less than 30 days past due are Pass, loans 30-89 days past due are Special Mention and loans greater than 89 days past due are Substandard. The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date.
March 31, 2025
| Term Loans (amortized cost basis by origination year) |  |  |  |  |  |
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 431,109 |  |  | $ | 1,184,550 |  |  | $ | 441,048 |  |  | $ | 165,738 |  |  | $ | 142,290 |  |  | $ | 91,465 |  |  | $ | 1,614,342 |  |  | $ | — |  |  | $ | 4,070,542 |
Special Mention | 138 |  |  | 6,225 |  |  | 6,271 |  |  | 21,724 |  |  | 823 |  |  | 2,286 |  |  | 44,753 |  |  | — |  |  | 82,220 |
Substandard | 18,505 |  |  | 14,539 |  |  | 18,614 |  |  | 26,623 |  |  | 3,570 |  |  | 1,281 |  |  | 66,790 |  |  | — |  |  | 149,922 |
Doubtful | — |  |  | 1,974 |  |  | 12 |  |  | — |  |  | 1,350 |  |  | 577 |  |  | — |  |  | — |  |  | 3,913 |
Total Commercial and industrial loans | 449,752 |  |  | 1,207,288 |  |  | 465,945 |  |  | 214,085 |  |  | 148,033 |  |  | 95,609 |  |  | 1,725,885 |  |  | — |  |  | 4,306,597 |
Current period gross charge-offs | — |  |  | 630 |  |  | 1,040 |  |  | 16 |  |  | 3,094 |  |  | 87 |  |  | — |  |  | — |  |  | 4,867 |
Agricultural land, production and other loans to farmers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 18,823 |  |  | 24,089 |  |  | 22,240 |  |  | 29,683 |  |  | 25,580 |  |  | 53,261 |  |  | 60,772 |  |  | — |  |  | 234,448 |
Special Mention | — |  |  | 159 |  |  | 29 |  |  | 476 |  |  | — |  |  | 863 |  |  | 1,227 |  |  | — |  |  | 2,754 |
Substandard | 380 |  |  | 2,515 |  |  | 44 |  |  | 780 |  |  | 668 |  |  | 1,322 |  |  | 953 |  |  | — |  |  | 6,662 |
Total Agricultural land, production and other loans to farmers | 19,203 |  |  | 26,763 |  |  | 22,313 |  |  | 30,939 |  |  | 26,248 |  |  | 55,446 |  |  | 62,952 |  |  | — |  |  | 243,864 |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 25,407 |  |  | 243,728 |  |  | 200,293 |  |  | 60,604 |  |  | 13,178 |  |  | 10,994 |  |  | 10,327 |  |  | — |  |  | 564,531 |
Special Mention | 12,176 |  |  | 97,317 |  |  | 23,145 |  |  | 44,557 |  |  | — |  |  | 35 |  |  | — |  |  | — |  |  | 177,230 |
Substandard | 22,000 |  |  | 10,518 |  |  | — |  |  | 18,292 |  |  | 604 |  |  | — |  |  | — |  |  | — |  |  | 51,414 |
Total Construction | 59,583 |  |  | 351,563 |  |  | 223,438 |  |  | 123,453 |  |  | 13,782 |  |  | 11,029 |  |  | 10,327 |  |  | — |  |  | 793,175 |
Commercial real estate, non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 100,071 |  |  | 325,566 |  |  | 250,185 |  |  | 330,932 |  |  | 394,174 |  |  | 561,031 |  |  | 33,931 |  |  | — |  |  | 1,995,890 |
Special Mention | 3,286 |  |  | 52,913 |  |  | 11,867 |  |  | 38,487 |  |  | 11,423 |  |  | 4,941 |  |  | 86 |  |  | — |  |  | 123,003 |
Substandard | 12,892 |  |  | 11,430 |  |  | 2,436 |  |  | 6,364 |  |  | 6,641 |  |  | 19,211 |  |  | 2 |  |  | — |  |  | 58,976 |
Total Commercial real estate, non-owner occupied | 116,249 |  |  | 389,909 |  |  | 264,488 |  |  | 375,783 |  |  | 412,238 |  |  | 585,183 |  |  | 34,019 |  |  | — |  |  | 2,177,869 |
Current period gross charge-offs | — |  |  | — |  |  | — |  |  | 178 |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 193 |
Commercial real estate, owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 74,568 |  |  | 177,392 |  |  | 147,507 |  |  | 159,448 |  |  | 213,429 |  |  | 308,349 |  |  | 36,114 |  |  | — |  |  | 1,116,807 |
Special Mention | 481 |  |  | 15,365 |  |  | 5,129 |  |  | 9,712 |  |  | 7,719 |  |  | 8,369 |  |  | 460 |  |  | — |  |  | 47,235 |
Substandard | 16,822 |  |  | 14,027 |  |  | 7,033 |  |  | 1,820 |  |  | 3,508 |  |  | 3,914 |  |  | — |  |  | — |  |  | 47,124 |
Doubtful | — |  |  | 3,573 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,573 |
Total Commercial real estate, owner occupied | 91,871 |  |  | 210,357 |  |  | 159,669 |  |  | 170,980 |  |  | 224,656 |  |  | 320,632 |  |  | 36,574 |  |  | — |  |  | 1,214,739 |
Current period gross charge-offs | — |  |  | 51 |  |  | 152 |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | — |  |  | 208 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 49,584 |  |  | 215,741 |  |  | 417,482 |  |  | 665,752 |  |  | 392,322 |  |  | 599,913 |  |  | 8,327 |  |  | 48 |  |  | 2,349,169 |
Special Mention | — |  |  | 485 |  |  | 3,581 |  |  | 6,036 |  |  | 3,667 |  |  | 4,948 |  |  | 150 |  |  | 16 |  |  | 18,883 |
Substandard | — |  |  | 1,480 |  |  | 2,162 |  |  | 8,917 |  |  | 4,078 |  |  | 4,816 |  |  | 347 |  |  | — |  |  | 21,800 |
Total Residential | 49,584 |  |  | 217,706 |  |  | 423,225 |  |  | 680,705 |  |  | 400,067 |  |  | 609,677 |  |  | 8,824 |  |  | 64 |  |  | 2,389,852 |
Current period gross charge-offs | — |  |  | 26 |  |  | 50 |  |  | 121 |  |  | — |  |  | 187 |  |  | — |  |  | — |  |  | 384 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 2,289 |  |  | 11,023 |  |  | 4,193 |  |  | 23,629 |  |  | 49,320 |  |  | 14,843 |  |  | 532,713 |  |  | 2,105 |  |  | 640,115 |
Special Mention | — |  |  | 38 |  |  | — |  |  | — |  |  | 467 |  |  | 36 |  |  | 4,069 |  |  | 114 |  |  | 4,724 |
Substandard | 61 |  |  | 738 |  |  | — |  |  | 663 |  |  | 776 |  |  | 983 |  |  | 2,439 |  |  | — |  |  | 5,660 |
Total Home Equity | 2,350 |  |  | 11,799 |  |  | 4,193 |  |  | 24,292 |  |  | 50,563 |  |  | 15,862 |  |  | 539,221 |  |  | 2,219 |  |  | 650,499 |
Current period gross charge-offs | — |  |  | 6 |  |  | — |  |  | 11 |  |  | 2 |  |  | 44 |  |  | — |  |  | — |  |  | 63 |
Individuals' loans for household and other personal expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 14,306 |  |  | 24,848 |  |  | 19,061 |  |  | 28,870 |  |  | 8,844 |  |  | 5,912 |  |  | 38,013 |  |  | — |  |  | 139,854 |
Special Mention | — |  |  | 257 |  |  | 369 |  |  | 272 |  |  | 141 |  |  | 16 |  |  | 45 |  |  | — |  |  | 1,100 |
Total Individuals' loans for household and other personal expenditures | 14,306 |  |  | 25,105 |  |  | 19,430 |  |  | 29,142 |  |  | 8,985 |  |  | 5,928 |  |  | 38,058 |  |  | — |  |  | 140,954 |
Current period gross charge-offs | — |  |  | 88 |  |  | 140 |  |  | 141 |  |  | 46 |  |  | 52 |  |  | — |  |  | — |  |  | 467 |
Public finance and other commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 21,960 |  |  | 149,522 |  |  | 53,341 |  |  | 202,166 |  |  | 192,512 |  |  | 434,690 |  |  | 30,437 |  |  | — |  |  | 1,084,628 |
Special Mention | — |  |  | — |  |  | 478 |  |  | — |  |  | — |  |  | 2,250 |  |  | — |  |  | — |  |  | 2,728 |
Total Public finance and other commercial loans | 21,960 |  |  | 149,522 |  |  | 53,819 |  |  | 202,166 |  |  | 192,512 |  |  | 436,940 |  |  | 30,437 |  |  | — |  |  | 1,087,356 |
Loans | $ | 824,858 |  |  | $ | 2,590,012 |  |  | $ | 1,636,520 |  |  | $ | 1,851,545 |  |  | $ | 1,477,084 |  |  | $ | 2,136,306 |  |  | $ | 2,486,297 |  |  | $ | 2,283 |  |  | $ | 13,004,905 |
Total current period gross charge-offs | $ | — |  |  | $ | 801 |  |  | $ | 1,382 |  |  | $ | 467 |  |  | $ | 3,142 |  |  | $ | 390 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,182 |
December 31, 2024
| Term Loans (amortized cost basis by origination year) |  |  |  |  |  |
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving loans amortized cost basis |  | Revolving loans converted to term |  | Total
Commercial and industrial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 1,314,174 |  |  | $ | 493,138 |  |  | $ | 196,877 |  |  | $ | 158,215 |  |  | $ | 55,639 |  |  | $ | 49,554 |  |  | $ | 1,576,409 |  |  | $ | 130 |  |  | $ | 3,844,136 |
Special Mention | 14,982 |  |  | 13,282 |  |  | 20,837 |  |  | 1,097 |  |  | 2,222 |  |  | 348 |  |  | 41,187 |  |  | — |  |  | 93,955 |
Substandard | 29,238 |  |  | 32,285 |  |  | 26,973 |  |  | 7,249 |  |  | 1,081 |  |  | 1,134 |  |  | 75,649 |  |  | 513 |  |  | 174,122 |
Doubtful | 1,473 |  |  | 606 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,079 |
Total Commercial and industrial loans | 1,359,867 |  |  | 539,311 |  |  | 244,687 |  |  | 166,561 |  |  | 58,942 |  |  | 51,036 |  |  | 1,693,245 |  |  | 643 |  |  | 4,114,292 |
Current period gross charge-offs | 1,242 |  |  | 39,087 |  |  | 341 |  |  | 8,605 |  |  | 500 |  |  | 424 |  |  | — |  |  | — |  |  | 50,199 |
Agricultural land, production and other loans to farmers |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 28,600 |  |  | 23,070 |  |  | 30,518 |  |  | 26,442 |  |  | 27,105 |  |  | 29,930 |  |  | 84,502 |  |  | — |  |  | 250,167 |
Special Mention | 169 |  |  | — |  |  | 245 |  |  | — |  |  | 446 |  |  | 422 |  |  | 528 |  |  | — |  |  | 1,810 |
Substandard | 2,554 |  |  | 48 |  |  | 800 |  |  | 682 |  |  | 34 |  |  | 81 |  |  | 136 |  |  | — |  |  | 4,335 |
Total Agricultural land, production and other loans to farmers | 31,323 |  |  | 23,118 |  |  | 31,563 |  |  | 27,124 |  |  | 27,585 |  |  | 30,433 |  |  | 85,166 |  |  | — |  |  | 256,312 |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 241,622 |  |  | 203,829 |  |  | 114,794 |  |  | 31,864 |  |  | 6,398 |  |  | 8,549 |  |  | 12,836 |  |  | — |  |  | 619,892 |
Special Mention | 74,879 |  |  | 21,853 |  |  | 19,019 |  |  | 15,214 |  |  | — |  |  | 40 |  |  | — |  |  | — |  |  | 131,005 |
Substandard | 22,305 |  |  | — |  |  | 18,292 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 40,597 |
Doubtful | — |  |  | — |  |  | — |  |  | 650 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 650 |
Total Construction | 338,806 |  |  | 225,682 |  |  | 152,105 |  |  | 47,728 |  |  | 6,398 |  |  | 8,589 |  |  | 12,836 |  |  | — |  |  | 792,144 |
Commercial real estate, non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 383,279 |  |  | 275,907 |  |  | 342,442 |  |  | 406,289 |  |  | 327,372 |  |  | 278,362 |  |  | 19,863 |  |  | — |  |  | 2,033,514 |
Special Mention | 79,440 |  |  | 9,051 |  |  | 35,230 |  |  | 12,975 |  |  | 5,287 |  |  | 28,200 |  |  | — |  |  | — |  |  | 170,183 |
Substandard | 34,215 |  |  | 2,506 |  |  | 6,737 |  |  | 6,656 |  |  | 18,607 |  |  | 1,598 |  |  | — |  |  | — |  |  | 70,319 |
Total Commercial real estate, non-owner occupied | 496,934 |  |  | 287,464 |  |  | 384,409 |  |  | 425,920 |  |  | 351,266 |  |  | 308,160 |  |  | 19,863 |  |  | — |  |  | 2,274,016 |
Current period gross charge-offs | — |  |  | 339 |  |  | 3 |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 343 |
Commercial real estate, owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 194,703 |  |  | 141,964 |  |  | 164,725 |  |  | 217,319 |  |  | 198,314 |  |  | 127,431 |  |  | 31,573 |  |  | — |  |  | 1,076,029 |
Special Mention | 1,887 |  |  | 11,013 |  |  | 7,555 |  |  | 9,910 |  |  | 8,603 |  |  | 1,951 |  |  | 460 |  |  | — |  |  | 41,379 |
Substandard | 13,310 |  |  | 7,669 |  |  | 3,189 |  |  | 11,294 |  |  | 1,522 |  |  | 3,552 |  |  | — |  |  | — |  |  | 40,536 |
Total Commercial real estate, owner occupied | 209,900 |  |  | 160,646 |  |  | 175,469 |  |  | 238,523 |  |  | 208,439 |  |  | 132,934 |  |  | 32,033 |  |  | — |  |  | 1,157,944 |
Current period gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | 9 |
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 221,016 |  |  | 413,552 |  |  | 672,713 |  |  | 397,192 |  |  | 326,154 |  |  | 293,785 |  |  | 8,887 |  |  | 13 |  |  | 2,333,312 |
Special Mention | 1,528 |  |  | 1,953 |  |  | 6,228 |  |  | 4,102 |  |  | 2,891 |  |  | 3,152 |  |  | 150 |  |  | — |  |  | 20,004 |
Substandard | 1,306 |  |  | 1,912 |  |  | 8,849 |  |  | 3,989 |  |  | 1,216 |  |  | 3,794 |  |  | 347 |  |  | — |  |  | 21,413 |
Total Residential | 223,850 |  |  | 417,417 |  |  | 687,790 |  |  | 405,283 |  |  | 330,261 |  |  | 300,731 |  |  | 9,384 |  |  | 13 |  |  | 2,374,729 |
Current period gross charge-offs | — |  |  | 173 |  |  | 779 |  |  | 136 |  |  | 20 |  |  | 288 |  |  | — |  |  | — |  |  | 1,396 |
Home equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 6,788 |  |  | 4,354 |  |  | 24,810 |  |  | 51,313 |  |  | 10,486 |  |  | 3,976 |  |  | 535,132 |  |  | 12,124 |  |  | 648,983 |
Special Mention | 38 |  |  | — |  |  | 375 |  |  | 285 |  |  | 297 |  |  | 69 |  |  | 4,568 |  |  | 442 |  |  | 6,074 |
Substandard | 61 |  |  | — |  |  | 572 |  |  | 815 |  |  | — |  |  | 96 |  |  | 2,244 |  |  | 966 |  |  | 4,754 |
Total Home Equity | 6,887 |  |  | 4,354 |  |  | 25,757 |  |  | 52,413 |  |  | 10,783 |  |  | 4,141 |  |  | 541,944 |  |  | 13,532 |  |  | 659,811 |
Current period gross charge-offs | — |  |  | 10 |  |  | 35 |  |  | 22 |  |  | — |  |  | 267 |  |  | — |  |  | — |  |  | 334 |
Individuals' loans for household and other personal expenditures |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 40,819 |  |  | 21,867 |  |  | 31,356 |  |  | 10,520 |  |  | 2,276 |  |  | 4,693 |  |  | 53,180 |  |  | 180 |  |  | 164,891 |
Special Mention | 153 |  |  | 234 |  |  | 347 |  |  | 175 |  |  | 59 |  |  | 40 |  |  | 128 |  |  | — |  |  | 1,136 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 1 |
Total Individuals' loans for household and other personal expenditures | 40,972 |  |  | 22,101 |  |  | 31,703 |  |  | 10,695 |  |  | 2,335 |  |  | 4,733 |  |  | 53,308 |  |  | 181 |  |  | 166,028 |
Current period gross charge-offs | 208 |  |  | 920 |  |  | 523 |  |  | 184 |  |  | 47 |  |  | 80 |  |  | — |  |  | — |  |  | 1,962 |
Public finance and other commercial loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 161,072 |  |  | 53,750 |  |  | 203,884 |  |  | 195,066 |  |  | 146,377 |  |  | 298,802 |  |  | 132 |  |  | — |  |  | 1,059,083 |
Total Public finance and other commercial loans | 161,072 |  |  | 53,750 |  |  | 203,884 |  |  | 195,066 |  |  | 146,377 |  |  | 298,802 |  |  | 132 |  |  | — |  |  | 1,059,083 |
Loans | $ | 2,869,611 |  |  | $ | 1,733,843 |  |  | $ | 1,937,367 |  |  | $ | 1,569,313 |  |  | $ | 1,142,386 |  |  | $ | 1,139,559 |  |  | $ | 2,447,911 |  |  | $ | 14,369 |  |  | $ | 12,854,359 |
Total current period gross charge-offs | $ | 1,450 |  |  | $ | 40,529 |  |  | $ | 1,681 |  |  | $ | 8,947 |  |  | $ | 576 |  |  | $ | 1,060 |  |  | $ | — |  |  | $ | — |  |  | $ | 54,243 |
The tables below present the amortized cost basis of collateral dependent loans by loan class and their respective collateral type, which are individually evaluated to determine expected credit losses. The total collateral dependent loan balance decreased $2.2 million, primarily related to a decrease of $5.3 million in the commercial and industrial loan class, partially offset by increases of $1.3 million and $1.9 million in commercial real estate, non-owner occupied, and commercial real estate, owner occupied loan classes, respectively, for the three months ended March 31, 2025. The total related allowance balance increased $5.6 million, primarily related to increases of $2.4 million, $1.6 million, and $1.4 million in construction, commercial real estate, owner occupied, and commercial and industrial loan classes, respectively, for the three months ended March 31, 2025.
| March 31, 2025
| Commercial Real Estate |  | Residential Real Estate |  | Other |  | Total |  | Allowance on Collateral Dependent Loans
Commercial and industrial loans | $ | — |  |  | $ | — |  |  | $ | 18,173 |  |  | $ | 18,173 |  |  | $ | 9,243 |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction | — |  |  | 22,606 |  |  | — |  |  | 22,606 |  |  | 2,432 |
Commercial real estate, non-owner occupied | 28,919 |  |  | — |  |  | — |  |  | 28,919 |  |  | 4,435 |
Commercial real estate, owner occupied | 11,609 |  |  | — |  |  | — |  |  | 11,609 |  |  | 1,606 |
Residential | — |  |  | 1,150 |  |  | — |  |  | 1,150 |  |  | 183 |
Home equity | — |  |  | 195 |  |  | — |  |  | 195 |  |  | 24 |
Loans | $ | 40,528 |  |  | $ | 23,951 |  |  | $ | 18,173 |  |  | $ | 82,652 |  |  | $ | 17,923 |
| December 31, 2024
| Commercial Real Estate |  | Residential Real Estate |  | Other |  | Total |  | Allowance on Collateral Dependent Loans
Commercial and industrial loans | $ | — |  |  | $ | — |  |  | $ | 23,455 |  |  | $ | 23,455 |  |  | $ | 7,803 |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction | — |  |  | 22,652 |  |  | — |  |  | 22,652 |  |  | — |
Commercial real estate, non-owner occupied | 27,583 |  |  | — |  |  | — |  |  | 27,583 |  |  | 4,295 |
Commercial real estate, owner occupied | 9,748 |  |  | — |  |  | — |  |  | 9,748 |  |  | — |
Residential | — |  |  | 1,174 |  |  | — |  |  | 1,174 |  |  | 189 |
Home equity | — |  |  | 201 |  |  | — |  |  | 201 |  |  | 25 |
Loans | $ | 37,331 |  |  | $ | 24,027 |  |  | $ | 23,455 |  |  | $ | 84,813 |  |  | $ | 12,312 |
Summary of Past Due Aging of Loan Portfolio by Loan Class | The tables below show a past due aging of the Corporation’s loan portfolio, by loan class, as of the dates indicated:
| March 31, 2025
| Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total |  | Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans | $ | 4,260,713 |  |  | $ | 13,082 |  |  | $ | 25,602 |  |  | $ | 7,200 |  |  | $ | 4,306,597 |  |  | $ | 3,905 |
Agricultural land, production and other loans to farmers | 243,504 |  |  | 119 |  |  | 241 |  |  | — |  |  | 243,864 |  |  | — |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |
Construction | 777,629 |  |  | 35 |  |  | 15,226 |  |  | 285 |  |  | 793,175 |  |  | — |
Commercial real estate, non-owner occupied | 2,159,499 |  |  | 4,878 |  |  | 1,869 |  |  | 11,623 |  |  | 2,177,869 |  |  | — |
Commercial real estate, owner occupied | 1,202,715 |  |  | 2,020 |  |  | 4,496 |  |  | 5,508 |  |  | 1,214,739 |  |  | 183 |
Residential | 2,352,273 |  |  | 12,758 |  |  | 5,027 |  |  | 19,794 |  |  | 2,389,852 |  |  | 192 |
Home equity | 641,332 |  |  | 3,840 |  |  | 561 |  |  | 4,766 |  |  | 650,499 |  |  | — |
Individuals' loans for household and other personal expenditures | 139,854 |  |  | 908 |  |  | 192 |  |  | — |  |  | 140,954 |  |  | — |
Public finance and other commercial loans | 1,087,356 |  |  | — |  |  | — |  |  | — |  |  | 1,087,356 |  |  | — |
Loans | $ | 12,864,875 |  |  | $ | 37,640 |  |  | $ | 53,214 |  |  | $ | 49,176 |  |  | $ | 13,004,905 |  |  | $ | 4,280 |
| December 31, 2024
| Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or More Past Due |  | Total |  | Loans > 90 Days or More Past Due And Accruing
Commercial and industrial loans | $ | 4,096,605 |  |  | $ | 7,428 |  |  | $ | 473 |  |  | $ | 9,786 |  |  | $ | 4,114,292 |  |  | $ | 2,010 |
Agricultural land, production and other loans to farmers | 256,148 |  |  | 164 |  |  | — |  |  | — |  |  | 256,312 |  |  | — |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |
Construction | 761,819 |  |  | 4,332 |  |  | 22,005 |  |  | 3,988 |  |  | 792,144 |  |  | 3,683 |
Commercial real estate, non-owner occupied | 2,259,549 |  |  | 2,407 |  |  | 1,718 |  |  | 10,342 |  |  | 2,274,016 |  |  | — |
Commercial real estate, owner occupied | 1,153,861 |  |  | 3,783 |  |  | — |  |  | 300 |  |  | 1,157,944 |  |  | — |
Residential | 2,337,002 |  |  | 12,302 |  |  | 6,606 |  |  | 18,819 |  |  | 2,374,729 |  |  | 208 |
Home equity | 649,238 |  |  | 4,431 |  |  | 1,569 |  |  | 4,573 |  |  | 659,811 |  |  | — |
Individuals' loans for household and other personal expenditures | 164,891 |  |  | 926 |  |  | 210 |  |  | 1 |  |  | 166,028 |  |  | 1 |
Public finance and other commercial loans | 1,059,083 |  |  | — |  |  | — |  |  | — |  |  | 1,059,083 |  |  | — |
Loans | $ | 12,738,196 |  |  | $ | 35,773 |  |  | $ | 32,581 |  |  | $ | 47,809 |  |  | $ | 12,854,359 |  |  | $ | 5,902 |
Summary of Non-Accrual Loans by Loan class | The following table summarizes the Corporation’s nonaccrual loans by loan class as of the dates indicated.
| March 31, 2025 |  | December 31, 2024
| Nonaccrual Loans |  | Nonaccrual Loans with no Allowance for Credit Losses |  | Nonaccrual Loans |  | Nonaccrual Loans with no Allowance for Credit Losses
Commercial and industrial loans | $ | 6,136 |  |  | $ | 736 |  |  | $ | 8,090 |  |  | $ | 4,937 |
Agricultural land, production and other loans to farmers | 70 |  |  | — |  |  | 75 |  |  | — |
Real estate loans: |  |  |  |  |  |  |
Construction | 24,520 |  |  | 604 |  |  | 24,629 |  |  | 22,650 |
Commercial real estate, non-owner occupied | 13,403 |  |  | 10,976 |  |  | 12,118 |  |  | 10,153 |
Commercial real estate, owner occupied | 9,208 |  |  | 4,709 |  |  | 2,440 |  |  | 1,904 |
Residential | 23,347 |  |  | — |  |  | 21,491 |  |  | — |
Home equity | 5,238 |  |  | — |  |  | 4,924 |  |  | — |
Individuals' loans for household and other personal expenditures | — |  |  | — |  |  | 6 |  |  | — |
Loans | $ | 81,922 |  |  | $ | 17,025 |  |  | $ | 73,773 |  |  | $ | 39,644 |
Summary of Modified Loans | The following tables present the amortized cost basis of loans at March 31, 2025 and 2024 that were both experiencing financial difficulty and modified during the three months ended March 31, 2025 and 2024, by class and by type of modification. For the three months ended March 31, 2025, the table below excludes loan modifications considered insignificant. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.
| Three Months Ended March 31, 2025
| Loan Modifications Made to Borrowers Experiencing Financial Difficulty
| Payment Delay |  | Term Extension |  |  |  |  |  |  |  |  |  |  |  |  |  | % of Total Class of Financing Receivable
Commercial and industrial loans | $ | — |  |  | $ | 7,365 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.17 | %
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | 22,000 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.77 | %
Commercial real estate, owner occupied | — |  |  | 10,254 |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.84 | %
Residential | 269 |  |  | — |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.01 | %
Total | $ | 269 |  |  | $ | 39,619 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Three Months Ended March 31, 2024
| Loan Modifications Made to Borrowers Experiencing Financial Difficulty
| Payment Delay |  | Term Extension |  |  |  | Interest Rate Reduction |  | Combination Payment Delay & Term Extension |  |  |  |  |  |  |  | % of Total Class of Financing Receivable
Commercial and industrial loans | $ | 1,542 |  |  | $ | 2,798 |  |  |  |  | $ | 250 |  |  | $ | 14 |  |  |  |  |  |  |  |  | 0.12 | %
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate, owner occupied | — |  |  | 190 |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 0.02 | %
Residential | 1,617 |  |  | — |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 0.07 | %
Home equity | 90 |  |  | 266 |  |  |  |  | — |  |  | — |  |  |  |  |  |  |  |  | 0.06 | %
Total | $ | 3,249 |  |  | $ | 3,254 |  |  |  |  | $ | 250 |  |  | $ | 14 |  |  |  |  |  |  |  |  |
The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended March 31, 2025 and 2024.
| Three Months Ended March 31, 2025
| Financial Effect of Loan Modifications
| Payment Delay |  | Term Extension |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial loans |  |  | Extended loans by a weighted average of 3 months. |  |  |  |  |  |  |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | Extended loans by a weighted average of 5 months. |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate, owner occupied |  |  | Extended loans by a weighted average of 3 months. |  |  |  |  |  |  |  |  |  |  |  |
Residential | Provided payment deferrals with weighted average delayed amounts of $6. |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Three Months Ended March 31, 2024
| Financial Effect of Loan Modifications
| Payment Delay |  | Term Extension |  |  |  | Interest Rate Reduction |  | Combination Payment Delay & Term Extension |  |  |  |  |  |
Commercial and industrial loans | Provided payment deferrals with weighted average delayed amounts of $50. |  | Extended loans by a weighted average of 15 months. |  |  |  | Reduced the weighted average contractual interest rate from 9.00% to 8.00%. |  | Provided payment deferrals with weighted average delayed amounts of $5. Extended loans by a weighted average of 3 months. |  |  |  |  |  |
Real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate, owner occupied |  |  | Extended loans by a weighted average of 5 months. |  |  |  |  |  |  |  |  |  |  |  |
Residential | Provided payment deferrals with weighted average delayed amounts of $31. |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity | Provided payment deferrals with weighted average delayed amounts of $4. |  | Extended loans by a weighted average of 6 months. |  |  |  |  |  |  |  |  |  |  |  |
The Corporation closely monitors the performance of financial difficulty modifications to understand the effectiveness of its efforts. The following tables present the performance of financial difficulty modifications in the twelve months following modification.
| March 31, 2025
| Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Commercial and industrial loans | $ | 17,281 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,231 |  |  | $ | 21,512 |
Agricultural land, production and other loans to farmers | 2,212 |  |  | — |  |  | — |  |  | — |  |  | 2,212 |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction | 22,000 |  |  | — |  |  | — |  |  | — |  |  | 22,000 |
Commercial real estate, owner occupied | 12,730 |  |  | — |  |  | — |  |  | 3,573 |  |  | 16,303 |
Residential | 4,846 |  |  | 298 |  |  | 25 |  |  | 1,740 |  |  | 6,909 |
Home equity | 261 |  |  | — |  |  | — |  |  | — |  |  | 261 |
Total | $ | 59,330 |  |  | $ | 298 |  |  | $ | 25 |  |  | $ | 9,544 |  |  | $ | 69,197 |
| March 31, 2024
| Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Commercial and industrial loans | $ | 4,605 |  |  | $ | — |  |  | $ | — |  |  | $ | 98 |  |  | $ | 4,703 |
Real estate loans: |  |  |  |  |  |  |  |  |
Commercial real estate, owner occupied | 189 |  |  | — |  |  | 7 |  |  | — |  |  | 196 |
Residential | — |  |  | — |  |  | 122 |  |  | 1,617 |  |  | 1,739 |
Home equity | 356 |  |  | — |  |  | — |  |  | — |  |  | 356 |
Total | $ | 5,150 |  |  | $ | — |  |  | $ | 129 |  |  | $ | 1,715 |  |  | $ | 6,994 |
Summary of Changes in Allowance for Loan Losses | The following tables summarize changes in the allowance for credit losses by loan segment for the three months ended March 31, 2025 and 2024:
| Three Months Ended March 31, 2025
| Commercial |  | Commercial Real Estate |  | Construction |  |  |  |  |  | Consumer & Residential |  | Total
Allowance for credit losses - loans |  |  |  |  |  |  |  |  |  |  |  |  |
Balances, December 31, 2024 | $ | 94,757 |  |  | $ | 51,099 |  |  | $ | 9,784 |  |  |  |  |  |  | $ | 37,117 |  |  | $ | 192,757 |
Provision for credit losses - loans | 9,154 |  |  | (4,367) |  |  | 1,757 |  |  |  |  |  |  | (2,344) |  |  | 4,200 |
Recoveries on loans | 938 |  |  | 5 |  |  | — |  |  |  |  |  |  | 313 |  |  | 1,256 |
Loans charged off | (4,867) |  |  | (401) |  |  | — |  |  |  |  |  |  | (914) |  |  | (6,182) |
Balances, March 31, 2025 | $ | 99,982 |  |  | $ | 46,336 |  |  | $ | 11,541 |  |  |  |  |  |  | $ | 34,172 |  |  | $ | 192,031 |
| Three Months Ended March 31, 2024
| Commercial |  | Commercial Real Estate |  | Construction |  |  |  |  |  | Consumer & Residential |  | Total
Allowance for credit losses - loans |  |  |  |  |  |  |  |  |  |  |  |  |
Balances, December 31, 2023 | $ | 97,348 |  |  | $ | 44,048 |  |  | $ | 24,823 |  |  |  |  |  |  | $ | 38,715 |  |  | $ | 204,934 |
Provision for credit losses - loans | 3,145 |  |  | 1,528 |  |  | (4,454) |  |  |  |  |  |  | 1,781 |  |  | 2,000 |
Recoveries on loans | 551 |  |  | 53 |  |  | — |  |  |  |  |  |  | 296 |  |  | 900 |
Loans charged off | (1,831) |  |  | (351) |  |  | — |  |  |  |  |  |  | (971) |  |  | (3,153) |
Balances, March 31, 2024 | $ | 99,213 |  |  | $ | 45,278 |  |  | $ | 20,369 |  |  |  |  |  |  | $ | 39,821 |  |  | $ | 204,681 |
Summary of Financial Instruments with Off-balance Sheet Risk | Financial instruments with off-balance sheet risk were as follows:
| March 31, 2025 |  | December 31, 2024
Amounts of commitments: |  |  |
Loan commitments to extend credit | $ | 5,321,554 |  |  | $ | 5,006,085 |
Standby letters of credit | $ | 65,210 |  |  | $ | 71,271 |

X
- Definition Tabular disclosure of allowance for credit loss on financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
Name: | us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
Name: | us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of aging analysis for financing receivable. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-7A Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-7 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-14 Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 80 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479294/326-20-55-80 + Details
Name: | us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_ReceivablesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
Name: | us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined) which are not recognized in the financial statements (off-balance sheet) because they fail to meet some other criterion for recognition. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-10 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
Name: | us-gaap_ScheduleOfFairValueOffBalanceSheetRisksTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivable on nonaccrual status. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-16 + Details
Name: | us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of financing receivable modified for debtor experiencing financial difficulty. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-34 Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 33 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-33 Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 + Details
Name: | us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration