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PORTFOLIO LOANS
 9 Months Ended
Sep. 30, 2025
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
PORTFOLIO LOANS
NOTE 4. PORTFOLIO LOANS
Loan Categories
Busey’s lending can be summarized in two primary categories: commercial and retail. Loans within these categories are further classified by lending activity: C&I and other commercial, commercial real estate, real estate construction, retail real estate, and retail other. Distributions of the loan portfolio by loan category and lending activity is presented in the following table:
As of
(dollars in thousands)September 30,
2025		December 31,
2024
Commercial loans
C&I and other commercial$4,395,871 $1,904,515 
CRE5,424,095 3,269,564 
Real estate construction1,099,524 378,209 
Total commercial loans10,919,490 5,552,288 
Retail loans
Retail real estate2,196,246 1,696,457 
Retail other482,530 448,342 
Total retail loans2,678,776 2,144,799 
Total portfolio loans13,598,266 7,697,087 
ACL(174,181)(83,404)
Portfolio loans, net$13,424,085 $7,613,683 
Net deferred loan origination costs included in the balances above were $8.8 million as of September 30, 2025, compared to $12.5 million as of December 31, 2024. Net accretable purchase accounting adjustments included in the balances above reduced loans by $92.0 million as of September 30, 2025, and $8.8 million as of December 31, 2024.
Other than loans acquired through acquisition activities, Busey did not purchase any retail real estate loans during the three and nine months ended September 30, 2025. Busey did not purchase any retail real estate loans during the three months ended September 30, 2024, and elected to purchase $6.9 million of retail real estate loans during the nine months ended September 30, 2024.
Pledged Loans
Busey has executed a blanket lien with the FHLB. The principal balance of loans Busey has pledged as collateral with the FHLB and Federal Reserve Bank for liquidity, which Busey is able to borrow against, is set forth in the table below:
As of
(dollars in thousands)September 30,
2025		December 31,
2024
Pledged loans
FHLB$5,018,506 $4,813,600 
Federal Reserve Bank1,973,933 765,824 
Total pledged loans$6,992,439 $5,579,424 
Risk Grading
Busey utilizes a loan grading scale to assign a risk grade to all of its loans. A description of the general characteristics of each grade is as follows:
•Pass – This category includes loans that are all considered acceptable credits, ranging from investment or near investment grade, to loans made to borrowers who exhibit credit fundamentals that meet or exceed industry standards.
•Watch – This category includes loans that warrant a higher-than-average level of monitoring to ensure that weaknesses do not cause the inability of the credit to perform as expected. These loans are not necessarily a problem due to other inherent strengths of the credit, such as guarantor strength, but have above average concern and monitoring.
•Special mention – This category is for “Other Assets Specially Mentioned” loans that have potential weaknesses, which may, if not checked or corrected, weaken the asset or inadequately protect Busey’s credit position at some future date.
•Substandard – This category includes “Substandard” loans, determined in accordance with regulatory guidelines, for which the accrual of interest has not been stopped. Assets so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that Busey will sustain some loss if the deficiencies are not corrected.
•Substandard non-accrual – This category includes loans that have all the characteristics of a “Substandard” loan with additional factors that make collection in full highly questionable and improbable. Such loans are placed on non-accrual status and may be dependent on collateral with a value that is difficult to determine.
All loans are graded at their inception. Commercial lending relationships that are $2.0 million or less are usually processed through an expedited underwriting process. Most commercial loans greater than $2.0 million are included in a portfolio review at least annually. Commercial loans greater than $0.35 million that have a grading of special mention or worse are typically reviewed on a quarterly basis. Interim reviews may take place if circumstances of the borrower warrant a more frequent review.
The following table is a summary of Busey’s portfolio loans by risk grade, segregated by loan category:
As of September 30, 2025
(dollars in thousands)PassWatchSpecial
Mention		SubstandardSubstandard
Non-accrual		Total
Commercial loans
C&I and other commercial$3,707,153 $433,278 $152,267 $74,109 $29,064 $4,395,871 
CRE4,453,517 794,313 147,237 21,228 7,800 5,424,095 
Real estate construction1,011,685 56,664 25,653 5,227 295 1,099,524 
Total commercial loans9,172,355 1,284,255 325,157 100,564 37,159 10,919,490 
Retail loans
Retail real estate2,170,254 7,320 7,608 2,759 8,305 2,196,246 
Retail other481,892 — — 6 632 482,530 
Total retail loans2,652,146 7,320 7,608 2,765 8,937 2,678,776 
Total portfolio loans$11,824,501 $1,291,575 $332,765 $103,329 $46,096 $13,598,266 
As of December 31, 2024
(dollars in thousands)PassWatchSpecial
Mention		SubstandardSubstandard
Non-accrual		Total
Commercial loans
C&I and other commercial$1,545,338 $281,424 $36,152 $37,749 $3,852 $1,904,515 
CRE2,744,018 438,945 55,041 16,507 15,053 3,269,564 
Real estate construction345,908 26,833 221 5,224 23 378,209 
Total commercial loans4,635,264 747,202 91,414 59,480 18,928 5,552,288 
Retail loans
Retail real estate1,680,640 9,408 882 2,543 2,984 1,696,457 
Retail other448,166 — — — 176 448,342 
Total retail loans2,128,806 9,408 882 2,543 3,160 2,144,799 
Total portfolio loans$6,764,070 $756,610 $92,296 $62,023 $22,088 $7,697,087 
Risk grades of portfolio loans and gross charge-offs are presented in the tables below by lending activity, further sorted by origination year:
As of and For The Nine Months Ended September 30, 2025
Risk Grade RatingsTerm Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
(dollars in thousands)20252024202320222021Prior
C&I and other commercial
Pass$659,612 $722,192 $425,370 $238,755 $192,946 $151,925 $1,316,353 $3,707,153 
Watch26,374 79,588 66,467 46,942 55,238 18,233 140,436 433,278 
Special Mention17,388 17,339 25,541 43,362 4,974 2,913 40,750 152,267 
Substandard10,422 1,965 16,543 4,216 10,159 3,771 27,033 74,109 
Substandard non-accrual4,601 2,343 644 1,318 640 5,048 14,470 29,064 
Total C&I and other commercial718,397 823,427 534,565 334,593 263,957 181,890 1,539,042 4,395,871 
Gross charge-offs$1,246 $2,626 $4,347 $1,440 $13,591 $11,254 $4,550 $39,054 
CRE
Pass631,171 487,489 703,228 1,216,265 776,293 600,081 38,990 4,453,517 
Watch169,711 56,362 139,202 156,277 186,841 83,665 2,255 794,313 
Special Mention50,239 23,098 5,093 14,139 37,467 16,067 1,134 147,237 
Substandard1,714 708 914 9,046 — 8,628 218 21,228 
Substandard non-accrual82 — 4,548 — 1 3,169 — 7,800 
Total CRE852,917 567,657 852,985 1,395,727 1,000,602 711,610 42,597 5,424,095 
Gross charge-offs1,297 11,057 — — 253 — — 12,607 
Real estate construction
Pass240,725 328,610 125,079 215,814 25,158 3,632 72,667 1,011,685 
Watch1,221 43,492 3,588 — 177 — 8,186 56,664 
Special Mention18,233 — — — 7,420 — — 25,653 
Substandard5,165 — — — 62 — — 5,227 
Substandard non-accrual— 274 — — 21 — — 295 
Total real estate construction265,344 372,376 128,667 215,814 32,838 3,632 80,853 1,099,524 
Gross charge-offs— — — — — — — — 
Retail real estate
Pass111,695 138,069 304,874 457,128 379,646 533,444 245,398 2,170,254 
Watch2,696 606 489 1,520 280 1,160 569 7,320 
Special Mention69 84 4,052 1,479 1,705 — 219 7,608 
Substandard1,000 — 111 447 489 712 — 2,759 
Substandard non-accrual212 307 39 319 85 3,205 4,138 8,305 
Total retail real estate115,672 139,066 309,565 460,893 382,205 538,521 250,324 2,196,246 
Gross charge-offs85 — — — — 51 36 172 
Retail other
Pass6,415 6,769 37,741 36,632 6,150 703 387,482 481,892 
Watch— — — — — — — — 
Special Mention— — — — — — — — 
Substandard— — — — — 6 — 6 
Substandard non-accrual35 — 93 99 — — 405 632 
Total retail other6,450 6,769 37,834 36,731 6,150 709 387,887 482,530 
Gross charge-offs318 147 253 41 — 74 — 833 
Total portfolio loans$1,958,780 $1,909,295 $1,863,616 $2,443,758 $1,685,752 $1,436,362 $2,300,703 $13,598,266 
Total gross charge-offs$2,946 $13,830 $4,600 $1,481 $13,844 $11,379 $4,586 $52,666 
As of and For The Year Ended December 31, 2024
Risk Grade RatingsTerm Loans Amortized Cost Basis by Origination YearRevolving
Loans		Total
(dollars in thousands)20242023202220212020Prior
C&I and other commercial
Pass$320,831 $147,909 $163,870 $125,053 $74,146 $117,234 $596,295 $1,545,338 
Watch38,734 49,394 44,709 16,393 2,175 20,964 109,055 281,424 
Special Mention1,718 2,293 5,658 2,634 106 2,540 21,203 36,152 
Substandard15,186 6,545 788 591 320 2,424 11,895 37,749 
Substandard non-accrual65 141 464 — 42 852 2,288 3,852 
Total C&I and other commercial376,534 206,282 215,489 144,671 76,789 144,014 740,736 1,904,515 
Gross charge-offs$— $14,980 $148 $22 $— $303 $— $15,453 
 
CRE
Pass291,503 354,591 755,266 645,994 356,867 314,340 25,457 2,744,018 
Watch115,078 132,900 60,611 62,408 28,320 38,733 895 438,945 
Special Mention39,252 643 8,020 1,395 4,165 1,517 49 55,041 
Substandard6,983 355 4,628 50 95 4,346 50 16,507 
Substandard non-accrual15,000 39 — — 14 — — 15,053 
Total CRE467,816 488,528 828,525 709,847 389,461 358,936 26,451 3,269,564 
Gross charge-offs— — — 2,999 — 315 — 3,314 
 
Real estate construction
Pass159,825 134,450 12,205 24,781 2,213 1,124 11,310 345,908 
Watch20,170 6,455 — 208 — — — 26,833 
Special Mention— — — 221 — — — 221 
Substandard5,224 — — — — — — 5,224 
Substandard non-accrual— — — 23 — — — 23 
Total real estate construction185,219 140,905 12,205 25,233 2,213 1,124 11,310 378,209 
Gross charge-offs— — — — — — — — 
 
Retail real estate
Pass101,582 237,306 366,820 354,380 147,236 267,431 205,885 1,680,640 
Watch1,255 550 2,733 3,377 872 124 497 9,408 
Special Mention151 — 344 — — 372 15 882 
Substandard— 243 1,018 503 — 776 3 2,543 
Substandard non-accrual— — 344 91 152 1,526 871 2,984 
Total retail real estate102,988 238,099 371,259 358,351 148,260 270,229 207,271 1,696,457 
Gross charge-offs— — — — — 168 — 168 
 
Retail other
Pass4,996 55,665 57,944 12,207 2,304 589 314,461 448,166 
Substandard non-accrual— 94 67 4 — 11 — 176 
Total retail other4,996 55,759 58,011 12,211 2,304 600 314,461 448,342 
Gross charge-offs9 31 106 78 4 403 — 631 
 
Total portfolio loans$1,137,553 $1,129,573 $1,485,489 $1,250,313 $619,027 $774,903 $1,300,229 $7,697,087 
Total gross charge-offs$9 $15,011 $254 $3,099 $4 $1,189 $— $19,566 
Past Due and Non-accrual Loans
An analysis of portfolio loans that were past due and still accruing, or on a non-accrual status, is presented in the table below:
As of September 30, 2025
Loans past due, still accruingNon-accrual
Loans		Non-accrual Loans with No Allowance for Credit Losses
(dollars in thousands)30-59 Days60-89 Days90+Days
Commercial loans
C&I and other commercial$996 $1,450 $861 $29,064 $6,685 
CRE2,815 6,289 78 7,800 1,543 
Real estate construction— 3,233 347 295 157 
Past due and non-accrual commercial loans3,811 10,972 1,286 37,159 8,385 
Retail loans
Retail real estate2,626 448 102 8,305 348 
Retail other929 128 30 632 — 
Past due and non-accrual retail loans3,555 576 132 8,937 348 
Total past due and non-accrual loans$7,366 $11,548 $1,418 $46,096 $8,733 
As of December 31, 2024
Loans past due, still accruingNon-accrual
Loans		Non-accrual Loans with No Allowance for Credit Losses
(dollars in thousands)30-59 Days60-89 Days90+Days
Commercial loans
C&I and other commercial$95 $— $— $3,852 $1,224 
CRE42 2,759 — 15,053 15,000 
Real estate construction41 — — 23 — 
Past due and non-accrual commercial loans178 2,759 — 18,928 16,224 
Retail loans
Retail real estate3,280 683 1,115 2,984 194 
Retail other1,094 130 34 176 — 
Past due and non-accrual retail loans4,374 813 1,149 3,160 194 
Total past due and non-accrual loans$4,552 $3,572 $1,149 $22,088 $16,418 
Gross interest income recorded on 90+ days past due loans, and that would have been recorded on non-accrual loans if they had been accruing interest in accordance with their original terms, was $0.9 million and $2.1 million for the three and nine months ended September 30, 2025, respectively, and was $0.1 million and $0.6 million for the three and nine months ended September 30, 2024, respectively. The amount of interest collected on those loans and recognized on a cash basis that was included in interest income was immaterial for the three and nine months ended September 30, 2025 and 2024.
Loan Modifications for Borrowers Experiencing Financial Difficulty
The following tables present the amortized cost basis of loans that were modified—specifically in the form of (1) principal forgiveness, (2) an interest rate reduction, (3) an other-than-insignificant payment deferral, and/or (4) a term extension—for borrowers experiencing financial difficulty during the periods indicated, disaggregated by lending activity and the type of modification:

Three Months Ended September 30, 2025
(dollars in thousands)
Interest Rate Reduction
% of Total Class of Financing Receivable1
Payment Deferral
% of Total Class of Financing Receivable2
Term Extension
% of Total Class of Financing Receivable3
Modified Loans
C&I and other commercial
$263 — %$2,444 0.1 %$10,417 0.2 %
CRE
— — %1,944 — %461 — %
Total of loans modified during the period4
$263 — %$4,388 — %$10,878 0.1 %
___________________________________________
1.Modified loans represented an insignificant portion of C&I and other commercial loans, and an insignificant portion of total loans, in both cases rounding to zero percent.
2.Modified loans represented an insignificant portion of CRE loans, and an insignificant portion of total loans, in both cases rounding to zero percent.
3.Modified loans represented an insignificant portion of CRE loans, rounding to zero percent.
4.All modifications were for loans classified as substandard.
Three Months Ended September 30, 2024
(dollars in thousands)
Payment Deferral
% of Total Class of Financing Receivable1
Term Extension2
% of Total Class of Financing Receivable
Modified Loans
C&I and other commercial
$325 — %$14,537 0.8 %
CRE
— — %18,448 0.5 %
Real estate construction
— — %5,250 1.3 %
Total of loans modified during the period3
$325 — %$38,235 0.5 %
___________________________________________
1.Modified loans represented an insignificant portion of C&I and other commercial loans, and an insignificant portion of total loans, in both cases rounding to zero percent.
2.Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period.
3.All modifications were for loans classified as substandard.
Nine Months Ended September 30, 2025
(dollars in thousands)
Interest Rate Reduction
% of Total Class of Financing Receivable1
Payment Deferral
% of Total Class of Financing Receivable2
Term Extension
% of Total Class of Financing Receivable2
Modified Loans
C&I and other commercial
$263 — %$13,005 0.3 %$22,314 0.5 %
CRE
— — %1,944 — %823 — %
Real estate construction
— — %— — %5,165 0.5 %
Total of loans modified during the period3
$263 — %$14,949 0.1 %$28,302 0.2 %
___________________________________________
1.Modified loans represented an insignificant portion of C&I and other commercial loans, and an insignificant portion of total loans, in both cases rounding to zero percent.
2.Modified loans represented an insignificant portion of CRE loans, rounding to zero percent.
3.With the exception of two loans that were transferred to non-accrual status during the nine months ended September 30, 2025, all modifications were for loans classified as substandard.
Nine Months Ended September 30, 2024
(dollars in thousands)
Payment Deferral1
% of Total Class of Financing Receivable2
Term Extension1
% of Total Class of Financing Receivable
Modified Loans
C&I and other commercial
$325 — %$28,073 1.5 %
CRE
— — %19,782 0.6 %
Real estate construction
— — %5,250 1.3 %
Total of loans modified during the period3
$325 — %$53,105 0.7 %
___________________________________________
1.Modifications to extend loan terms also included, in some cases, interest rate increases during the extension period.
2.Modified loans represented an insignificant portion of C&I and other commercial loans, rounding to zero percent.
3.All modifications were for loans classified as substandard.
The following table provides, by lending activity, the weighted average interest rate reductions and term extensions for loan modifications made during the periods indicated for borrowers experiencing financial difficulty:
Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
Weighted Average Interest Rate ReductionWeighted Average Term ExtensionWeighted Average Term ExtensionWeighted Average Interest Rate ReductionWeighted Average Term ExtensionWeighted Average Term Extension
C&I and other commercial5.00 %6 months6 months5.00 %10 months1.2 years
CRE— %8 months4 months— %1.3 years4 months
Real estate construction— %—6 months— %1.3 years6 months
Aggregate effect5.00 %6 months5 months5.00 %11 months10 months
Payment deferrals for borrowers experiencing financial difficulty can include deferrals of 3 or more payments to the end of the loan, accommodations to restructure the payment terms of the loan, or accommodations to allow for an interest-only period on the loan.
Performance of Modified Loans
Busey closely monitors the performance of the loans that are modified for borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the payment performance of loans modified during the last twelve months:
As of September 30, 2025
(dollars in thousands)Current30-89 Days90+ DaysNon-accrual
Modified Loans
C&I and other commercial$32,062 $— $— $4,038 
CRE4,147 — — — 
Real estate construction5,165 — — — 
Loans modified during the last twelve months$41,374 $— $— $4,038 
Busey had commitments of $0.4 million as of September 30, 2025, to lend additional funds to debtors experiencing financial difficulty for whom Busey modified a loan within the past twelve months. Busey did not have any commitments as of December 31, 2024, to lend additional funds to debtors experiencing financial difficulty for whom Busey had modified a loan within the past twelve months.
A default occurs when a loan is 90 days or more past due or transferred to non-accrual status. The following table presents loans that defaulted after having been modified during the twelve months before the default.
Three Months Ended September 30,Nine Months Ended September 30,
20252025
(dollars in thousands)Term ExtensionPayment DeferralTerm Extension
Loans with Subsequent Defaults
C&I and other commercial$3,571 $467 $3,571 
Modified loans with subsequent defaults$3,571 $467 $3,571 
No loans had a default during the three or nine months ended September 30, 2024, after having been modified during the twelve months before that default for borrowers experiencing financial difficulty.
Collateral Dependent Loans
Management's evaluation as to the ultimate collectability of loans includes estimates regarding future cash flows from operations and the value of property, real and personal, pledged as collateral. These estimates are affected by changing economic conditions and the economic prospects of borrowers. Collateral dependent loans are loans in which repayment is expected to be provided solely by the operation or sale of the underlying collateral and there are no other available and reliable sources of repayment. Loans are written down to the lower of cost or fair value of the underlying collateral, less estimated costs to sell. Busey had $39.0 million and $19.3 million of collateral dependent loans secured by real estate or business assets as of September 30, 2025, and December 31, 2024, respectively.
Foreclosures
Busey’s recorded investment in residential real estate loans that were in the process of foreclosure was $6.1 million as of September 30, 2025. Busey follows Federal Housing Finance Agency guidelines on single-family foreclosures and real estate owned evictions on portfolio loans.
Allowance for Credit Losses
The ACL is a valuation account that is deducted from the portfolio loans’ amortized cost bases to present the net amount expected to be collected on the portfolio loans. The ACL is established through the provision for credit losses charged to income. Portfolio loans are charged off against the ACL when management believes the uncollectibility of a loan balance is confirmed. Recoveries are recognized up to the aggregate amount of previously charged-off balances.
Management estimates the ACL balance using relevant available information from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses. The ACL consists of three components: (i) specific allocations/individual reserves; (ii) quantitative reserves; and (iii) qualitative reserves.
•Specific allocations/individual reserves – When a loan no longer exhibits risk characteristics that are similar to other loans, that loan is individually evaluated. Individual reserves are calculated for loans that are on a non-accrual status that are greater than a defined dollar threshold or loans that have disparate risk characteristics. Reserves may be based on collateral, for collateral-dependent loans, or on quantitative and qualitative factors, including expected cash flow, market sentiment, and guarantor support.
•Quantitative reserves – Busey implemented a new non-discounted cash flow model in the second quarter of 2025 that used combined historical loan data from Busey Bank beginning in 2004 and CrossFirst Bank since its inception in 2007. The model incorporates various baseline forecast scenarios and national unemployment rates with either national gross domestic product, the national home price index, or the national commercial real estate price index. Further, prepayment and curtailment expectations are factored into the model. Due to the continued economic uncertainty in the markets in which the Company operates, Busey will continue to utilize a forecast period of 12 months with an immediate reversion to historical loss rates beyond this forecast period in its ACL estimate.
•Qualitative reserves – Busey uses qualitative factors to adjust the historical loss factors for current and forecasted conditions. Busey considers the ten qualitative factors identified in the Interagency Guidance and ASC Topic 326 at each reporting date.
The following tables summarize activity in the ACL attributable to each lending activity. Allocation of a portion of the ACL to one lending activity does not preclude its availability to absorb losses from other lending activities:
Three Months Ended September 30, 2025
(dollars in thousands)C&I and Other CommercialCREReal Estate
Construction		Retail
Real Estate		Retail OtherTotal
ACL balance, June 30, 2025$68,578 $70,935 $13,072 $29,042 $1,707 $183,334 
Provision for loan losses(4,768)1,323 (880)739 281 (3,305)
Charged-off(5,753)(1,438)— (53)(204)(7,448)
Recoveries1,379 24 1 115 81 1,600 
ACL balance, September 30, 2025$59,436 $70,844 $12,193 $29,843 $1,865 $174,181 
Three Months Ended September 30, 2024
(dollars in thousands)C&I and Other CommercialCREReal Estate
Construction		Retail
Real Estate		Retail OtherTotal
ACL balance, June 30, 2024$20,286 $35,104 $3,722 $23,729 $2,385 $85,226 
Provision for loan losses715 (1,158)39 120 286 2 
Charged-off(202)(215)— (32)(225)(674)
Recoveries210 4 10 162 41 427 
ACL balance, September 30, 2024$21,009 $33,735 $3,771 $23,979 $2,487 $84,981 
Nine Months Ended September 30, 2025
(dollars in thousands)C&I and Other CommercialCREReal Estate
Construction		Retail
Real Estate		Retail OtherTotal
ACL balance, December 31, 2024$21,589 $32,301 $3,345 $23,711 $2,458 $83,404 
Day 1 PCD1
75,569 21,588 2,112 1,430 84 100,783 
Day 2 Provision for loan losses2
22,648 15,104 2,911 1,628 142 42,433 
Provision for loan losses(23,008)14,300 3,731 2,833 (137)(2,281)
Charged-off(39,054)(12,607)— (172)(833)(52,666)
Recoveries1,692 158 94 413 151 2,508 
ACL balance, September 30, 2025$59,436 $70,844 $12,193 $29,843 $1,865 $174,181 
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1.The Day 1 PCD is attributable to the CrossFirst acquisition (see “Note 2. Mergers and Acquisitions”), and represents the initial adjustment to the fair value of the PCD loans.
2.The Day 2 provision for loan losses is attributable to the CrossFirst acquisition (see “Note 2. Mergers and Acquisitions”), and represents the initial provision for non-PCD loans.
Nine Months Ended September 30, 2024
(dollars in thousands)C&I and Other CommercialCREReal Estate
Construction		Retail
Real Estate		Retail OtherTotal
ACL balance, December 31, 2023$21,256 $35,465 $5,163 $26,298 $3,558 $91,740 
Day 1 PCD1
824 322 — 96 1 1,243 
Provision for loan losses13,958 (1,882)(1,449)(2,624)(686)7,317 
Charged-off(15,433)(315)— (159)(503)(16,410)
Recoveries404 145 57 368 117 1,091 
ACL balance, September 30, 2024$21,009 $33,735 $3,771 $23,979 $2,487 $84,981 
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1.The Day 1 PCD is attributable to the M&M acquisition (see “Note 2. Mergers and Acquisitions.”)
Net charge-offs during the nine months ended September 30, 2025, included $35.5 million related to PCD loans acquired from CrossFirst Bank, which were fully reserved at acquisition and did not require recording additional provision expense.