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Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2025
Receivables [Abstract] |
Allowance for Credit Losses | Allowance for Credit Losses The following tables present the changes in the allowance for loan and lease losses and the recorded investment in loans and leases by portfolio segment for the periods indicated:
| Year Ended December 31, 2025
| Commercial Real Estate |  | Commercial |  | Consumer |  |  |  | Total
| (In Thousands)
Balance at December 31, 2024 | $ | 74,171 |  |  | $ | 44,169 |  |  | $ | 6,743 |  |  |  |  | $ | 125,083 |
Charge-offs | (11,018) |  |  | (31,034) |  |  | (199) |  |  |  |  | (42,251) |
Recoveries | 252 |  |  | 3,657 |  |  | 743 |  |  |  |  | 4,652 |
Merger Day 1 allowance on non-PCD loans | 31,820 |  |  | 17,891 |  |  | 17,518 |  |  |  |  | 67,229 |
Merger Day 1 allowance on PCD loans | 38,744 |  |  | 24,294 |  |  | 1,473 |  |  |  |  | 64,511 |
Provision (credit) for loan and lease losses excluding unfunded commitments | 8,422 |  |  | 27,513 |  |  | (2,320) |  |  |  |  | 33,615 |
Balance at December 31, 2025 | $ | 142,391 |  |  | $ | 86,490 |  |  | $ | 23,958 |  |  |  |  | $ | 252,839 |
| Year Ended December 31, 2024
| Commercial Real Estate |  | Commercial |  | Consumer |  |  |  | Total
| (In Thousands)
Balance at December 31, 2023 | $ | 81,410 |  |  | $ | 29,557 |  |  | $ | 6,555 |  |  |  |  | $ | 117,522 |
Charge-offs | (4,425) |  |  | (22,345) |  |  | (40) |  |  |  |  | (26,810) |
Recoveries | — |  |  | 2,241 |  |  | 41 |  |  |  |  | 2,282 |
Provision (credit) for loan and lease losses excluding unfunded commitments | (2,814) |  |  | 34,716 |  |  | 187 |  |  |  |  | 32,089 |
Balance at December 31, 2024 | $ | 74,171 |  |  | $ | 44,169 |  |  | $ | 6,743 |  |  |  |  | $ | 125,083 |
The allowance for credit losses for unfunded credit commitments was $13.7 million, and $6.0 million at December 31, 2025 and December 31, 2024, respectively. Provision for Credit Losses The provision (credit) for credit losses are set forth below for the periods indicated:
| Year Ended December 31, |
| 2025 |  | 2024 |  | 2023 |
| (In Thousands)
Provision (credit) for loan and lease losses: |  |  |  |  |  |
Commercial real estate | $ | 8,422 |  |  | $ | (2,814) |  |  | $ | 14,328 |  |
Commercial | 27,513 |  |  | 34,716 |  |  | 21,537 |  |
Consumer | (2,320) |  |  | 187 |  |  | 2,838 |  |
Total provision (credit) for loan and lease losses | 33,615 |  |  | 32,089 |  |  | 38,703 |  |
Unfunded credit commitments | 7,765 |  |  | (10,086) |  |  | (835) |  |
Investment securities available-for-sale | 12 |  |  | (359) |  |  | 339 |  |
Total provision (credit) for credit losses | $ | 41,392 |  |  | $ | 21,644 |  |  | $ | 38,207 |  |
Allowance for Credit Losses Methodology Management has established a methodology to determine the adequacy of the ACL that assesses the risks and losses expected on the loan and lease portfolio and unfunded commitments. Additions to the ACL are made by charges to the provision for credit losses. Losses on loans and leases are charged off against the allowance when all or a portion of a loan or lease is considered uncollectible. Subsequent recoveries on loans previously charged off, if any, are credited to the allowance when realized. To calculate the allowance for loans collectively evaluated, management uses models developed by a third party. The Bank’s core ACL process uses CRE, C&I, and retail lifetime loss rate models (core models) to calculate a lifetime loss rate based on loan attributes and reasonable and supportable economic forecasts. This lifetime loss rate is then applied to exposure at default. The exposure at default considers the current unpaid balance and expected utilization assumptions for unfunded commitments. Key assumptions used in the models include portfolio segmentation, prepayments, and the expected utilization of unfunded commitments, among others. The portfolios are segmented by loan level attributes such as loan type, loan size, date of origination, delinquency status, and risk ratings to create loan pools with similar risk characteristics. Prepayment assumptions are embedded within the models and are based on the same data used for model development and incorporate adjustments for reasonable and supportable forecasts. The historical data used to develop the model, including the observation period vary by model, but all use at least ten years of historical data and capture at least one recessionary period. Expected utilization is based on current utilization and a LEQ factor. LEQ varies by current utilization and provides a reasonable estimate of expected draws and borrower behavior. Assumptions and model inputs are reviewed in accordance with model monitoring practices and as information becomes available. Loans acquired in connection with the Transaction have losses estimated using a historical loss rate model (Legacy Berkshire model) based on the historical performance of various loan segments, which are segmented primarily by FDIC code, estimates of each segment’s weighted average life, and a statistical model to capture the impact of reasonable and supportable economic forecasts on the base loss rates. The ACL estimate for both the Banks core models and Legacy Berkshire model incorporates reasonable and supportable forecasts of various macro-economic variables using multiple probability weighted economic scenarios. For the Bank’s core models, reasonable and supportable economic forecasts and reversion to long-term economic conditions are embedded within the vendor provided economic scenarios applied over the remaining life of the loans. Reversion towards long-term expectations generally begins two to three years from the forecast start date and largely completes within the first five years. For the Legacy Berkshire model, management applies an explicit reasonable and supportable forecast period of seven quarters, using a straight-line reversion method over four quarters, after which economic assumptions revert to long term historical averages. The Bank elected to use multiple economic forecasts in determining the reserve to account for economic uncertainty. The forecasts include various projections of gross domestic product, interest rates, property price indices, and employment measures. Scenario weighting and model parameters are updated to reflect facts and circumstances as of the financial statement date. For the core models, the Bank calibrates expected losses for each model using a scalar, which is determined by examining the loss rates of peer banks that have similar operations and asset bases to the Bank and comparing these peer group loss rates to the model results. As of December 31, 2025, management continued to apply qualitative adjustments to the Company’s models. These adjustments are designed to address model limitations and are generally targeted to specific risks within certain portfolios (e.g., office and specialty vehicle) based on recent collateral valuations and performance trends. Additionally, portfolio level metrics such as delinquency, population of adversely graded loans, non-accruals, etc. are used to inform management’s evaluation of the credit risk in the portfolio and adjustments are made as appropriate. These adjustments included both positive and negative adjustments with a total impact to the provision of $24.8 million at December 31, 2025, of which $5.6 million is related to the Legacy Berkshire portfolio. Management reviews these factors on a quarterly basis as market conditions and segment performance evolve. An ACL on loans individually evaluated for impairment is established when amortized cost basis is greater than the discounted present value of expected future cash flows or, in the case of collateral-dependent loans, when there is an excess of a loan's amortized cost basis over the fair value of its underlying collateral. When loans and leases do not share risk characteristics with other financial assets they are evaluated individually. Individually evaluated loans are reviewed quarterly with adjustments made to the calculated reserve as necessary. The general allowance for loan and lease losses was $173.4 million as of December 31, 2025, compared to $107.5 million as of December 31, 2024. The increase of $65.9 million was primarily driven by loans assumed as a result of the Transaction, which added $80.0 million to the allowance for loan and lease losses. The ACL on individually evaluated loans and leases was $79.4 million as of December 31, 2025, compared to $17.5 million as of December 31, 2024. The increase of $61.9 million was primarily driven by the Transaction, which added individually evaluated reserves totaling $44.8 million. The $44.8 million is broken down as follows across the major portfolio segments: $26.4 million for commercial real estate loans, $18.2 million for commercial and industrial loans, and $0.2 million for consumer loans. As of December 31, 2025, management believes that the methodology for calculating the allowance is sound and that the allowance provides a reasonable basis for determining and reporting on expected losses over the lifetime of the Company’s loan portfolio. Credit Quality Assessment At the time of loan origination, a rating is assigned based on the capacity to pay and general financial strength of the borrower, the value of assets pledged as collateral, and the evaluation of third party support such as a guarantor. The Company continually monitors the credit quality of the loan portfolio using all available information. The officer responsible for handling each loan is required to initiate changes to risk ratings when changes in facts and circumstances occur that warrant an upgrade or downgrade in a loan rating. Based on this information, loans demonstrating certain payment issues or other weaknesses may be categorized as delinquent, adversely risk-rated, nonperforming and/or put on nonaccrual status. Additionally, in the course of resolving such loans, the Company may choose to restructure the contractual terms of certain loans to match the borrower's ability to repay the loan based on their current financial condition. If a restructured loan meets certain criteria, it may be categorized as a modified loan. The Company reviews numerous credit quality indicators when assessing the risk in its loan portfolio. For all loans, the Company utilizes an eight-grade loan rating system, which assigns a risk rating to each borrower based on a number of quantitative and qualitative factors associated with a loan transaction. Factors considered include industry and market conditions; position within the industry; earnings trends; operating cash flow; asset/liability values; debt capacity; guarantor strength; management and controls; financial reporting; collateral; and other considerations. In addition, the Company's independent loan review group evaluates the credit quality and related risk ratings in all loan portfolios. The results of these reviews are reported to the Risk Committee of the Board of Directors on a periodic basis and annually to the Board of Directors. For the consumer loans, the Company heavily relies on payment status for calibrating credit risk. The ratings categories used for assessing credit risk in the commercial real estate, multi-family mortgage, construction, commercial, equipment financing, condominium association and other consumer loan and lease classes are defined as follows: 1 -4 Rating—Pass Loan rating grades "1" through "4" are classified as "Pass," which indicates borrowers are performing in accordance with the terms of the loan and are less likely to result in loss due to the capacity of the borrower to pay and the adequacy of the value of assets pledged as collateral. 5 Rating—Other Assets Especially Mentioned ("OAEM") Borrowers exhibit potential credit weaknesses or downward trends deserving management's attention. If not checked or corrected, these trends will weaken the Company's asset and position. While potentially weak, currently these borrowers are marginally acceptable; no loss of principal or interest is envisioned. 6 Rating—Substandard Borrowers exhibit well defined weaknesses that jeopardize the orderly liquidation of debt. Substandard loans may be inadequately protected by the current net worth and paying capacity of the obligors or by the collateral pledged, if any. Normal repayment from the borrower is in jeopardy. Although no loss of principal is envisioned, there is a distinct possibility that a partial loss of interest and/or principal will occur if the deficiencies are not corrected. Collateral coverage may be inadequate to cover the principal obligation. 7 Rating—Doubtful Borrowers exhibit well-defined weaknesses that jeopardize the orderly liquidation of debt with the added provision that the weaknesses make collection of the debt in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Serious problems exist to the point where partial loss of principal is likely. 8 Rating—Definite Loss Borrowers deemed incapable of repayment. Loans to such borrowers are considered uncollectible and of such little value that continuation as active assets of the Company is not warranted. Assets rated as "OAEM," "substandard" or "doubtful" based on criteria established under banking regulations are collectively referred to as "criticized" assets. Credit Quality Information The following tables present the recorded investment in loans in each class as of December 31, 2025 and December 31, 2024 by credit quality indicator and year originated.
| December 31, 2025
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |  | Revolving Loans |  | Revolving Loans Converted to Term Loans | Total
| (In Thousands)
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 546,268 |  |  | $ | 496,486 |  |  | $ | 713,257 |  |  | $ | 1,377,041 |  |  | $ | 1,144,463 |  |  | $ | 2,524,605 |  |  |  | $ | 45,663 |  |  | $ | 14,944 |  | $ | 6,862,727 |
OAEM | 14,599 |  |  | 732 |  |  | 53,420 |  |  | 42,680 |  |  | 43,317 |  |  | 37,747 |  |  |  | — |  |  | 387 |  | 192,882 |
Substandard | — |  |  | 24,867 |  |  | 3,963 |  |  | 56,316 |  |  | 7,427 |  |  | 84,232 |  |  |  | 2,983 |  |  | — |  | 179,788 |
Total | 560,867 |  |  | 522,085 |  |  | 770,640 |  |  | 1,476,037 |  |  | 1,195,207 |  |  | 2,646,584 |  |  |  | 48,646 |  |  | 15,331 |  | 7,235,397 |
Current -period gross writeoffs | — |  |  | 569 |  |  | 18 |  |  | 4,641 |  |  | — |  |  | 3,458 |  |  |  | — |  |  | — |  | 8,686 |
Multi-Family Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| December 31, 2025
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |  | Revolving Loans |  | Revolving Loans Converted to Term Loans | Total
| (In Thousands)
Pass | 165,979 |  |  | 110,718 |  |  | 113,109 |  |  | 618,623 |  |  | 278,798 |  |  | 811,649 |  |  |  | 4,551 |  |  | 3,982 |  | 2,107,409 |
OAEM | — |  |  | — |  |  | — |  |  | 10,876 |  |  | — |  |  | — |  |  |  | — |  |  | — |  | 10,876 |
Substandard | — |  |  | — |  |  | 1,066 |  |  | 2,863 |  |  | 11,477 |  |  | 22,289 |  |  |  | — |  |  | — |  | 37,695 |
Total | 165,979 |  |  | 110,718 |  |  | 114,175 |  |  | 632,362 |  |  | 290,275 |  |  | 833,938 |  |  |  | 4,551 |  |  | 3,982 |  | 2,155,980 |
Current -period gross writeoffs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,332 |  |  |  | — |  |  | — |  | 2,332 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 159,217 |  |  | 148,651 |  |  | 145,038 |  |  | 87,874 |  |  | 16,938 |  |  | 332 |  |  |  | 3,188 |  |  | — |  | 561,238 |
OAEM | — |  |  | — |  |  | — |  |  | 37,689 |  |  | — |  |  | — |  |  |  | — |  |  | — |  | 37,689 |
Substandard | — |  |  | — |  |  | — |  |  | 21,790 |  |  | — |  |  | — |  |  |  | — |  |  | — |  | 21,790 |
Total | 159,217 |  |  | 148,651 |  |  | 145,038 |  |  | 147,353 |  |  | 16,938 |  |  | 332 |  |  |  | 3,188 |  |  | — |  | 620,717 |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 314,833 |  |  | 302,916 |  |  | 311,533 |  |  | 162,007 |  |  | 177,421 |  |  | 174,533 |  |  |  | 1,180,768 |  |  | 12,790 |  | 2,636,801 |
OAEM | — |  |  | 774 |  |  | 236 |  |  | 20,727 |  |  | 135 |  |  | 4,361 |  |  |  | 35,864 |  |  | 339 |  | 62,436 |
Substandard | — |  |  | 8,231 |  |  | 4,746 |  |  | 4,283 |  |  | 5,378 |  |  | 11,421 |  |  |  | 49,974 |  |  | 698 |  | 84,731 |
| December 31, 2025
| 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  |  | Revolving Loans |  | Revolving Loans Converted to Term Loans | Total
| (In Thousands)
Doubtful | — |  |  | — |  |  | 184 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  | 184 |
Total | 314,833 |  |  | 311,921 |  |  | 316,699 |  |  | 187,017 |  |  | 182,934 |  |  | 190,315 |  |  |  | 1,266,606 |  |  | 13,827 |  | 2,784,152 |
Current-period gross writeoffs | — |  |  | 1,082 |  |  | 210 |  |  | 5,199 |  |  | 106 |  |  | 7,353 |  |  |  | 1,467 |  |  | — |  | 15,417 |
Equipment Financing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 196,359 |  |  | 241,981 |  |  | 265,403 |  |  | 210,829 |  |  | 94,341 |  |  | 101,526 |  |  |  | 2,951 |  |  | 4,359 |  | 1,117,749 |
OAEM | — |  |  | — |  |  | — |  |  | 878 |  |  | 597 |  |  | — |  |  |  | — |  |  | — |  | 1,475 |
Substandard | 138 |  |  | 3,778 |  |  | 12,026 |  |  | 8,090 |  |  | 2,532 |  |  | 3,959 |  |  |  | — |  |  | 11,541 |  | 42,064 |
Doubtful | — |  |  | — |  |  | — |  |  | 1,918 |  |  | — |  |  | 5 |  |  |  | — |  |  | — |  | 1,923 |
Total | 196,497 |  |  | 245,759 |  |  | 277,429 |  |  | 221,715 |  |  | 97,470 |  |  | 105,490 |  |  |  | 2,951 |  |  | 15,900 |  | 1,163,211 |
Current-period gross writeoffs | — |  |  | 870 |  |  | 6,421 |  |  | 5,263 |  |  | 1,097 |  |  | 1,966 |  |  |  | — |  |  | — |  | 15,617 |
Other Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 10,735 |  |  | 19,553 |  |  | 19,614 |  |  | 7,792 |  |  | 3,311 |  |  | 4,270 |  |  |  | 75,916 |  |  | 14 |  | 141,205 |
OAEM | 12 |  |  |  |  | — |  |  | 5 |  |  | — |  |  | 1 |  |  |  | 5 |  |  | — |  | 23 |
Substandard | 1 |  |  | 41 |  |  | 2 |  |  | 46 |  |  | 6 |  |  | 7 |  |  |  | 32 |  |  | — |  | 135 |
Total | 10,748 |  |  | 19,594 |  |  | 19,616 |  |  | 7,843 |  |  | 3,317 |  |  | 4,278 |  |  |  | 75,953 |  |  | 14 |  | 141,363 |
Current-period gross writeoffs | 27 |  |  | 14 |  |  | 11 |  |  | 1 |  |  | — |  |  | 19 |  |  |  | 62 |  |  | — |  | 134 |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,393,391 |  |  | 1,320,305 |  |  | 1,567,954 |  |  | 2,464,166 |  |  | 1,715,272 |  |  | 3,616,915 |  |  |  | 1,313,037 |  |  | 36,089 |  | 13,427,129 |
OAEM | 14,611 |  |  | 1,506 |  |  | 53,656 |  |  | 112,855 |  |  | 44,049 |  |  | 42,109 |  |  |  | 35,869 |  |  | 726 |  | 305,381 |
Substandard | 139 |  |  | 36,917 |  |  | 21,803 |  |  | 93,388 |  |  | 26,820 |  |  | 121,908 |  |  |  | 52,989 |  |  | 12,239 |  | 366,203 |
Doubtful | — |  |  | — |  |  | 184 |  |  | 1,918 |  |  | — |  |  | 5 |  |  |  | — |  |  | — |  | 2,107 |
Total | $ | 1,408,141 |  |  | $ | 1,358,728 |  |  | $ | 1,643,597 |  |  | $ | 2,672,327 |  |  | $ | 1,786,141 |  |  | $ | 3,780,937 |  |  |  | $ | 1,401,895 |  |  | $ | 49,054 |  | $ | 14,100,820 |
As of December 31, 2025, there were no loans categorized as definite loss.
| December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  | Revolving Loans |  | Revolving Loans Converted to Term Loans | Total |  |  |  |  |  |  |  |  |  |  |  |  |  |
| (In Thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 147,877 |  |  | $ | 395,770 |  |  | $ | 677,054 |  |  | $ | 740,805 |  |  | $ | 368,755 |  |  | $ | 1,493,198 |  |  |  | $ | 45,933 |  |  | $ | 16,620 |  | $ | 3,886,012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OAEM | 22,505 |  |  | — |  |  | 21,923 |  |  | 3,611 |  |  | 3,210 |  |  | 41,704 |  |  |  | — |  |  | 411 |  | 93,364 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | — |  |  | 3,653 |  |  | 5,416 |  |  | — |  |  | 38,820 |  |  |  | — |  |  | — |  | 47,889 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | 170,382 |  |  | 395,770 |  |  | 702,630 |  |  | 749,832 |  |  | 371,965 |  |  | 1,573,722 |  |  |  | 45,933 |  |  | 17,031 |  | 4,027,265 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current -period gross writeoffs | — |  |  | — |  |  | 552 |  |  | — |  |  | — |  |  | 3,874 |  |  |  | — |  |  | — |  | 4,426 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Multi-Family Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 16,197 |  |  | 67,890 |  |  | 244,419 |  |  | 243,977 |  |  | 153,294 |  |  | 572,534 |  |  |  | 5,937 |  |  | 38,001 |  | 1,342,249 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OAEM | — |  |  | — |  |  | 11,606 |  |  | — |  |  | — |  |  | 3,855 |  |  |  | — |  |  | — |  | 15,461 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | — |  |  | 2,863 |  |  | 11,477 |  |  | — |  |  | 15,746 |  |  |  | — |  |  | — |  | 30,086 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | 16,197 |  |  | 67,890 |  |  | 258,888 |  |  | 255,454 |  |  | 153,294 |  |  | 592,135 |  |  |  | 5,937 |  |  | 38,001 |  | 1,387,796 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 50,569 |  |  | 24,642 |  |  | 169,636 |  |  | 37,832 |  |  | 1,649 |  |  | 221 |  |  |  | 8,754 |  |  | — |  | 293,303 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OAEM | — |  |  | — |  |  | 7,750 |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  | 7,750 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | 50,569 |  |  | 24,642 |  |  | 177,386 |  |  | 37,832 |  |  | 1,649 |  |  | 221 |  |  |  | 8,754 |  |  | — |  | 301,053 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 171,978 |  |  | 256,267 |  |  | 138,946 |  |  | 108,892 |  |  | 35,090 |  |  | 87,430 |  |  |  | 383,725 |  |  | 6,962 |  | 1,189,290 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OAEM | — |  |  | — |  |  | — |  |  | 48 |  |  | — |  |  | 284 |  |  |  | 1,711 |  |  | — |  | 2,043 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | 4 |  |  | — |  |  | 392 |  |  | 1,197 |  |  | 12,001 |  |  |  | 6,091 |  |  | 365 |  | 20,050 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  |  | — |  |  | 329 |  | 331 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | 171,978 |  |  | 256,271 |  |  | 138,946 |  |  | 109,332 |  |  | 36,287 |  |  | 99,717 |  |  |  | 391,527 |  |  | 7,656 |  | 1,211,714 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross writeoffs | 13 |  |  | 4 |  |  | 3,612 |  |  | 100 |  |  | 1,523 |  |  | 1,596 |  |  |  | — |  |  | — |  | 6,848 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Equipment Financing |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 287,280 |  |  | 359,803 |  |  | 289,487 |  |  | 147,244 |  |  | 83,664 |  |  | 85,286 |  |  |  | 425 |  |  | 5,881 |  | 1,259,070 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OAEM | — |  |  | — |  |  | 1,572 |  |  | 930 |  |  | — |  |  | — |  |  |  | — |  |  | — |  | 2,502 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | 7,681 |  |  | 3,455 |  |  | 2,918 |  |  | 725 |  |  | 2,771 |  |  |  | — |  |  | 11,530 |  | 29,080 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Doubtful | — |  |  | — |  |  | 4,283 |  |  | — |  |  | — |  |  | 15 |  |  |  | — |  |  | — |  | 4,298 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | 287,280 |  |  | 367,484 |  |  | 298,797 |  |  | 151,092 |  |  | 84,389 |  |  | 88,072 |  |  |  | 425 |  |  | 17,411 |  | 1,294,950 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross writeoffs | 840 |  |  | 2,801 |  |  | 4,740 |  |  | 1,430 |  |  | 5,219 |  |  | 4,166 |  |  |  | — |  |  | — |  | 19,196 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 373 |  |  | 176 |  |  | 84 |  |  | 873 |  |  | — |  |  | 2,057 |  |  |  | 60,789 |  |  | 15 |  | 64,367 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | 373 |  |  | 176 |  |  | 84 |  |  | 873 |  |  | — |  |  | 2,057 |  |  |  | 60,789 |  |  | 15 |  | 64,367 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross writeoffs | 7 |  |  | — |  |  | 3 |  |  | — |  |  | 1 |  |  | 12 |  |  |  | — |  |  | — |  | 23 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 674,274 |  |  | 1,104,548 |  |  | 1,519,626 |  |  | 1,279,623 |  |  | 642,452 |  |  | 2,240,726 |  |  |  | 505,563 |  |  | 67,479 |  | 8,034,291 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
OAEM | 22,505 |  |  | — |  |  | 42,851 |  |  | 4,589 |  |  | 3,210 |  |  | 45,843 |  |  |  | 1,711 |  |  | 411 |  | 121,120 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | 7,685 |  |  | 9,971 |  |  | 20,203 |  |  | 1,922 |  |  | 69,338 |  |  |  | 6,091 |  |  | 11,895 |  | 127,105 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Doubtful | — |  |  | — |  |  | 4,283 |  |  | — |  |  | — |  |  | 17 |  |  |  | — |  |  | 329 |  | 4,629 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total | $ | 696,779 |  |  | $ | 1,112,233 |  |  | $ | 1,576,731 |  |  | $ | 1,304,415 |  |  | $ | 647,584 |  |  | $ | 2,355,924 |  |  |  | $ | 513,365 |  |  | $ | 80,114 |  | $ | 8,287,145 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
As of December 31, 2024, there were no loans categorized as definite loss. For residential mortgage and home equity loans, the borrowers' credit scores at origination contribute as a reserve metric in the retail loss rate model. The credit scores in the table as follows represent the borrowers' current credit scores.
|  | December 31, 2025
|  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving Loans |  | Revolving Loans Converted to Term Loans | Total
|  | (In Thousands)
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit Scores |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over 700 |  | $ | 311,693 |  |  | $ | 330,183 |  |  | $ | 497,233 |  |  | $ | 542,388 |  |  | $ | 250,604 |  |  | $ | 746,295 |  |  | $ | 3,000 |  |  | $ | — |  | $ | 2,681,396 |
661 - 700 |  | 10,890 |  |  | 15,515 |  |  | 23,976 |  |  | 30,852 |  |  | 15,805 |  |  | 74,101 |  |  | 8 |  |  | — |  | 171,147 |
600 and below |  | 4,983 |  |  | 8,539 |  |  | 10,528 |  |  | 15,014 |  |  | 11,306 |  |  | 43,250 |  |  | — |  |  | — |  | 93,620 |
Data not available* |  | 24,658 |  |  | 3,334 |  |  | 5,729 |  |  | 103,341 |  |  | 6,076 |  |  | 144,124 |  |  | — |  |  | — |  | 287,262 |
Total |  | $ | 352,224 |  |  | $ | 357,571 |  |  | $ | 537,466 |  |  | $ | 691,595 |  |  | $ | 283,791 |  |  | $ | 1,007,770 |  |  | $ | 3,008 |  |  | $ | — |  | $ | 3,233,425 |
Current-period gross writeoffs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  | 1 |
Home Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit Scores |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over 700 |  | $ | 5,286 |  |  | $ | 1,882 |  |  | $ | 6,714 |  |  | $ | 7,087 |  |  | $ | 7,111 |  |  | $ | 26,203 |  |  | $ | 542,324 |  |  | $ | 3,737 |  | $ | 600,344 |
661 - 700 |  | — |  |  | 23 |  |  | 54 |  |  | 559 |  |  | 177 |  |  | 2,211 |  |  | 55,752 |  |  | 986 |  | 59,762 |
600 and below |  | 95 |  |  | 117 |  |  | 789 |  |  | 131 |  |  | 124 |  |  | 952 |  |  | 27,538 |  |  | 2,652 |  | 32,398 |
Data not available* |  | 2 |  |  | — |  |  | 13 |  |  | — |  |  | — |  |  | 50 |  |  | 2,738 |  |  | — |  | 2,803 |
Total |  | $ | 5,383 |  |  | $ | 2,022 |  |  | $ | 7,570 |  |  | $ | 7,777 |  |  | $ | 7,412 |  |  | $ | 29,416 |  |  | $ | 628,352 |  |  | $ | 7,375 |  | $ | 695,307 |
Current-period gross writeoffs |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 64 |  |  | — |  | 64 |
* Represents loans made to trusts and purchased mortgages.
|  | December 31, 2024
|  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving Loans |  | Revolving Loans Converted to Term Loans | Total
|  | (In Thousands)
Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit Scores |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over 700 |  | $ | 119,843 |  |  | $ | 75,397 |  |  | $ | 167,352 |  |  | $ | 204,738 |  |  | $ | 110,663 |  |  | $ | 341,746 |  |  | $ | 7,936 |  |  | $ | — |  | $ | 1,027,675 |
661 - 700 |  | 6,444 |  |  | 7,330 |  |  | 7,734 |  |  | 6,915 |  |  | 4,622 |  |  | 12,583 |  |  | — |  |  | — |  | 45,628 |
600 and below |  | 2,040 |  |  | 1,111 |  |  | 7,711 |  |  | 4,976 |  |  | 5,016 |  |  | 13,024 |  |  | — |  |  | — |  | 33,878 |
Data not available* |  | 31 |  |  | 537 |  |  | 1,349 |  |  | 881 |  |  | — |  |  | 4,753 |  |  | — |  |  | — |  | 7,551 |
Total |  | 128,358 |  |  | 84,375 |  |  | 184,146 |  |  | 217,510 |  |  | 120,301 |  |  | 372,106 |  |  | 7,936 |  |  | — |  | 1,114,732 |
Home Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Credit Scores |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Over 700 |  | 1,696 |  |  | 4,686 |  |  | 3,492 |  |  | 1,402 |  |  | 529 |  |  | 7,003 |  |  | 316,187 |  |  | 5,446 |  | 340,441 |
661 - 700 |  | 166 |  |  | 400 |  |  | 21 |  |  | 38 |  |  | — |  |  | 326 |  |  | 18,700 |  |  | 505 |  | 20,156 |
600 and below |  | — |  |  | 405 |  |  | 132 |  |  | — |  |  | 18 |  |  | 373 |  |  | 12,121 |  |  | 1,195 |  | 14,244 |
Data not available* |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4 |  |  | 2,566 |  |  | — |  | 2,570 |
Total |  | $ | 1,862 |  |  | $ | 5,491 |  |  | $ | 3,645 |  |  | $ | 1,440 |  |  | $ | 547 |  |  | $ | 7,706 |  |  | $ | 349,574 |  |  | $ | 7,146 |  | $ | 377,411 |
Current-period gross writeoffs |  | $ | — |  |  | $ | — |  |  | $ | 16 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  | $ | 16 |
* Represents loans made to trusts and purchased mortgages.
Age Analysis of Past Due Loans and Leases The following tables present an age analysis of the recorded investment in total loans and leases as of December 31, 2025 and 2024.
| At December 31, 2025
| Past Due |  |  |  |  |  | Past Due Greater Than 90 Days and Accruing |  | Non-accrual | Non-accrual with no related Allowance
| 31-60 Days |  | 61-90 Days |  | Greater Than 90 Days |  | Total |  | Current |  | Total Loans and Leases |  |
| (In Thousands) |
Commercial real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 10,348 |  |  | $ | 7,457 |  |  | $ | 21,663 |  |  | $ | 39,468 |  |  | $ | 7,195,929 |  |  | $ | 7,235,397 |  |  | $ | 3,250 |  |  | $ | 41,246 |  | $ | 1,340 |
Multi-family mortgage | 148 |  |  | — |  |  | 18,400 |  |  | 18,548 |  |  | 2,137,432 |  |  | 2,155,980 |  |  | 14,340 |  |  | 4,065 |  | 1,066 |
Construction | — |  |  | — |  |  | 15,000 |  |  | 15,000 |  |  | 605,717 |  |  | 620,717 |  |  | 15,000 |  |  | — |  | — |
Total commercial real estate loans | 10,496 |  |  | 7,457 |  |  | 55,063 |  |  | 73,016 |  |  | 9,939,078 |  |  | 10,012,094 |  |  | 32,590 |  |  | 45,311 |  | 2,406 |
Commercial loans and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | 2,762 |  |  | 219 |  |  | 16,798 |  |  | 19,779 |  |  | 2,764,373 |  |  | 2,784,152 |  |  | 320 |  |  | 16,716 |  | 1,735 |
Equipment financing | 12,513 |  |  | 7,456 |  |  | 36,795 |  |  | 56,764 |  |  | 1,106,447 |  |  | 1,163,211 |  |  | 112 |  |  | 42,718 |  | 2,531 |
Condominium association | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |
Total commercial loans and leases | 15,275 |  |  | 7,675 |  |  | 53,593 |  |  | 76,543 |  |  | 3,870,820 |  |  | 3,947,363 |  |  | 432 |  |  | 59,434 |  | 4,266 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 8,429 |  |  | 4,014 |  |  | 8,443 |  |  | 20,886 |  |  | 3,212,539 |  |  | 3,233,425 |  |  | 3,970 |  |  | 6,465 |  | 1,323 |
Home equity | 2,793 |  |  | 1,030 |  |  | 1,486 |  |  | 5,309 |  |  | 689,998 |  |  | 695,307 |  |  | 811 |  |  | 2,811 |  | 32 |
Other consumer | 287 |  |  | 68 |  |  | 133 |  |  | 488 |  |  | 140,875 |  |  | 141,363 |  |  | 20 |  |  | 135 |  | — |
Total consumer loans | 11,509 |  |  | 5,112 |  |  | 10,062 |  |  | 26,683 |  |  | 4,043,412 |  |  | 4,070,095 |  |  | 4,801 |  |  | 9,411 |  | 1,355 |
Total loans and leases | $ | 37,280 |  |  | $ | 20,244 |  |  | $ | 118,718 |  |  | $ | 176,242 |  |  | $ | 17,853,310 |  |  | $ | 18,029,552 |  |  | $ | 37,823 |  |  | $ | 114,156 |  | $ | 8,027 |
There is no interest income recognized on non-accrual loans for the year ending December 31, 2025.
| At December 31, 2024
| Past Due |  |  |  |  |  | Past Due Greater Than 90 Days and Accruing |  |  |
| 31-60 Days |  | 61-90 Days |  | Greater Than 90 Days |  | Total |  | Current |  | Total Loans and Leases |  |  | Non-accrual | Non-accrual with no related Allowance
| (In Thousands) |
Commercial real estate loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 6,570 |  |  | $ | 1,685 |  |  | $ | 12,153 |  |  | $ | 20,408 |  |  | $ | 4,006,857 |  |  | $ | 4,027,265 |  |  | $ | 629 |  |  | $ | 11,525 |  | $ | 683 |
Multi-family mortgage | 2,863 |  |  | — |  |  | 6,469 |  |  | 9,332 |  |  | 1,378,464 |  |  | 1,387,796 |  |  | — |  |  | 6,596 |  | 6,605 |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | 301,053 |  |  | 301,053 |  |  | — |  |  | — |  | — |
Total commercial real estate loans | 9,433 |  |  | 1,685 |  |  | 18,622 |  |  | 29,740 |  |  | 5,686,374 |  |  | 5,716,114 |  |  | 629 |  |  | 18,121 |  | 7,288 |
Commercial loans and leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | 783 |  |  | 1,693 |  |  | 695 |  |  | 3,171 |  |  | 1,208,543 |  |  | 1,211,714 |  |  | — |  |  | 14,676 |  | 326 |
Equipment financing | 6,140 |  |  | 2,508 |  |  | 27,070 |  |  | 35,718 |  |  | 1,259,232 |  |  | 1,294,950 |  |  | — |  |  | 31,509 |  | 2,180 |
Condominium association | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  | — |
Total commercial loans and leases | 6,923 |  |  | 4,201 |  |  | 27,765 |  |  | 38,889 |  |  | 2,467,775 |  |  | 2,506,664 |  |  | — |  |  | 46,185 |  | 2,506 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | 2,015 |  |  | — |  |  | 2,057 |  |  | 4,072 |  |  | 1,110,660 |  |  | 1,114,732 |  |  | 130 |  |  | 3,999 |  | 2,359 |
Home equity | 818 |  |  | 233 |  |  | 135 |  |  | 1,186 |  |  | 376,225 |  |  | 377,411 |  |  | 52 |  |  | 1,043 |  | — |
Other consumer | 4 |  |  | — |  |  | 1 |  |  | 5 |  |  | 64,362 |  |  | 64,367 |  |  | — |  |  | 1 |  | — |
Total consumer loans | 2,837 |  |  | 233 |  |  | 2,193 |  |  | 5,263 |  |  | 1,551,247 |  |  | 1,556,510 |  |  | 182 |  |  | 5,043 |  | 2,359 |
Total loans and leases | $ | 19,193 |  |  | $ | 6,119 |  |  | $ | 48,580 |  |  | $ | 73,892 |  |  | $ | 9,705,396 |  |  | $ | 9,779,288 |  |  | $ | 811 |  |  | $ | 69,349 |  | $ | 12,153 |
There is no interest income recognized on non-accrual loans for the year ending December 31, 2024.
Impaired Loans and Leases A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due (both interest and principal) according to the contractual terms of the loan agreement. The loans and leases risk-rated "substandard" or worse are considered impaired. The Company has also defined the population of impaired loans to include nonaccrual loans and modified loans. Impaired loans and leases which do not share similar risk characteristics with other loans are individually evaluated for credit losses. Specific reserves are established for loans and leases with deterioration in the present value of expected future cash flows or, in the case of collateral-dependent loans and leases, any increase in the loan or lease amortized cost basis over the fair value of the underlying collateral discounted for estimated selling costs. In contrast, the loans and leases which share similar risk characteristics and are not included in the individually evaluated population are collectively evaluated for credit losses. The following tables present information regarding individually evaluated and collectively evaluated allowance for loan and lease losses for credit losses on loans and leases at the dates indicated.
| At December 31, 2025 |  |  |  |  |
| Commercial Real Estate |  | Commercial |  |  |  | Consumer |  |  |  | Total |  |  |  |  |
| (In Thousands) |  |  |  |  |
Allowance for Loan and Lease Losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 47,329 |  |  | $ | 31,909 |  |  |  |  | $ | 178 |  |  |  |  | $ | 79,416 |  |  |  |  |  |
Collectively evaluated | 95,062 |  |  | 54,581 |  |  |  |  | 23,780 |  |  |  |  | 173,423 |  |  |  |  |  |
Total | $ | 142,391 |  |  | $ | 86,490 |  |  |  |  | $ | 23,958 |  |  |  |  | $ | 252,839 |  |  |  |  |  |
Loans and Leases: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 240,753 |  |  | $ | 111,589 |  |  |  |  | $ | 1,801 |  |  |  |  | $ | 354,143 |  |  |  |  |  |
Collectively evaluated | 9,771,341 |  |  | 3,835,774 |  |  |  |  | 4,068,294 |  |  |  |  | 17,675,409 |  |  |  |  |  |
Total | $ | 10,012,094 |  |  | $ | 3,947,363 |  |  |  |  | $ | 4,070,095 |  |  |  |  | $ | 18,029,552 |  |  |  |  |  |
| At December 31, 2024
| Commercial Real Estate |  | Commercial |  |  |  | Consumer |  |  |  | Total
| (In Thousands)
Allowance for Loan and Lease Losses: |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 3,566 |  |  | $ | 13,967 |  |  |  |  | $ | 13 |  |  |  |  | $ | 17,546 |
Collectively evaluated | 70,605 |  |  | 30,202 |  |  |  |  | 6,730 |  |  |  |  | 107,537 |
Total | $ | 74,171 |  |  | $ | 44,169 |  |  |  |  | $ | 6,743 |  |  |  |  | $ | 125,083 |
Loan and Lease Losses: |  |  |  |  |  |  |  |  |  |  |
Individually evaluated | $ | 77,983 |  |  | $ | 47,819 |  |  |  |  | $ | 2,626 |  |  |  |  | $ | 128,428 |
Collectively evaluated | 5,638,131 |  |  | 2,458,845 |  |  |  |  | 1,553,884 |  |  |  |  | 9,650,860 |
Total | $ | 5,716,114 |  |  | $ | 2,506,664 |  |  |  |  | $ | 1,556,510 |  |  |  |  | $ | 9,779,288 |
Loan Modifications The following tables present the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty during the periods indicated.
| At December 31, 2025 |  |
| Number of Loans |  | Amortized Cost |  | % of Total Class of Loans and Leases |  | Financial Effect |  |
|  |  | (In thousands) |  |  |  |  |  |
Maturity Extension |  |  |  |  |  |  |  |  |
CRE | 1 |  | $ | 18,719 |  |  | 0.26 | % |  | The loan was given a 10 month maturity extension. The financial effect was deemed "de minimis." |  |
C&I | 9 |  | $ | 19,705 |  |  | 0.71 | % |  | Loans were given multi-month extensions up to 15 months to assist the borrowers. The financial effect was deemed "de minimis". |  |
Significant Payment Delays |  |  |  |  |  |  |  |  |
CRE | 2 |  | 3,967 |  | 0.05 | % |  | One loan was given principal payments deferrals for 12 months and the other received and interest payment deferral of 6 months. The financial effect was deemed "de minimis." |  |
Combination - Maturity Extension and Significant Payment Delays |  |  |  |  |  |  |  |  |
C&I | 5 |  | 2,443 |  | 0.09 | % |  | These loans were given 6 month maturity extension and 6 months of interest-only payments. The financial effect was deemed "de minimis." |  |
Combination - Maturity Extension and Interest Rate Reduction |  |  |  |  |  |  |  |  |
C&I | 2 |  | 244 |  | 0.01 | % |  | These loans were given 36 month extensions, and reductions in their stated interest rates of 2.3%. The financial effect was deemed "de minimis." |  |
Total | 19 |  | $ | 45,078 |  |  |  |  |  |  |
| At December 31, 2024
| Number of Loans |  | Amortized Cost |  | % of Total Class of Loans and Leases |  | Financial Effect
|  |  | (In thousands) |  |  |  |
Maturity Extension |  |  |  |  |  |  |
C&I | 2 |  | $ | 115 |  |  | 0.01 | % |  | One loan was given 6 months of interest only payments and 6 months added to the term of the loan and the other loan was given a 2 month deferment of payments along with 13 months added to the term of the loan. The financial effect was deemed "de minimis".
Significant Payment Delays |  |  |  |  |  |  |
C&I | 14 |  | 15,016 |  | 1.29 | % |  | Some of these loans and letters of credit were given a two quarter (6 month) payment forbearance, while one was given a 30 month term extension, and another was given one year of payment deferrals. The financial effect was deemed "de minimis."
Combination - Maturity Extension and Significant Payment Delays |  |  |  |  |  |  |
C&I | 2 |  | 1,478 |  | 0.13 | % |  | These loans were given 6 month maturity extension and 6 months of interest-only payments. The financial effect was deemed "de minimis."
Combination - Maturity Extension and Interest Rate Reduction |  |  |  |  |  |  |
CRE | 1 |  | 8,284 |  | 0.21 | % |  | This loan was given a maturity extension of 3 years with a 5.0% pay rate and 7.0% accrue rate. The financial effect was deemed "de minimis."
C&I | 2 |  | 92 |  | 0.01 | % |  | These loans were given 25 month extensions, and reductions in their stated interest rates of 7.5%. The financial effect was deemed "de minimis."
Home Equity | 1 |  | $ | 269 |  |  | 0.07 | % |  | This loan was reamortized over 30 years and extended the prior maturity date 20 years, with a reduction in rate to 6.8% fixed. The financial effect was deemed "de minimis."
Combination - Maturity Extension, Interest Rate Reduction, and Significant Payment Delays |  |  |  |  |  |  |
CRE | 1 |  | 604 |  |  | 0.02 | % |  | Line of credit renewed for 1 year, interest only, with a reduction in rate from 10.3% variable to 7.5% fixed. The financial effect was deemed "de minimis."
Total | 23 |  | $ | 25,858 |  |  |  |  |
| At December 31, 2023 |  |
| Number of Loans |  | Amortized Cost |  | % of Total Class of Loans and Leases |  | Financial Effect |  |
|  |  | (In thousands) |  |  |  |  |  |
Maturity Extension |  |  |  |  |  |  |  |  |
CRE | 1 |  | $ | 3,195 |  |  | 0.06 | % |  | The loan was given a 1 year maturity extension. The financial effect was deemed "de minimis." |  |
C&I | 12 |  | 14,463 |  | 0.98 | % |  | All 12 loans were given 6 month maturity extensions to assist borrowers. The financial effect was deemed "de minimis." |  |
Significant Payment Delays |  |  |  |  |  |  |  |  |
C&I | 2 |  | 16 |  | — | % |  | Both loans were given restructured payment plans to assist borrowers. The financial effect was deemed "de minimis." |  |
Combination - Maturity Extension and Significant Payment Delays |  |  |  |  |  |  |  |  |
CRE | 2 |  | 18,792 |  | 0.33 | % |  | Loans were given 2 year maturity extensions, with a partial deferral of interest payments. The financial effect was deemed "de minimis." |  |
C&I | 10 |  | 4,650 |  | 0.30 | % |  | Loans were given 1 to 30 months of payment delays and 3 to 30 month term extensions. The financial effect was deemed "de minimis." |  |
Combination - Maturity Extension and Interest Rate Reduction |  |  |  |  |  |  |  |  |
C&I | 10 |  | 985 |  | 0.07 | % |  | A portion of loans were given 4 month maturity extensions and interest rate reductions. Other loans were given 2 year maturity extensions and a 5.00% fixed rate. The financial effect was deemed "de minimis." |  |
Total | 37 |  | $ | 42,101 |  |  |  |  |  |  |
The following tables present the aging analysis of loan modifications made to borrowers experiencing financial difficulty during the periods indicated.
| At December 31, 2025
| Current |  | 30-60 Days Past Due |  | 61-90 Days Past Due |  | 90+ Days Past Due |  | Modified |  |  |  |
| (In thousands)
Total Modifications | $ | 44,179 |  |  | 899 |  |  | — |  |  | — |  |  | — |  |  |  |  |
| At December 31, 2024
| Current |  | 30-60 Days Past Due |  | 61-90 Days Past Due |  | 90+ Days Past Due |  | Modified |  |  |  |
| (In thousands)
Total Modifications | $ | 25,155 |  |  | 98 |  |  | 580 |  |  | — |  |  | — |  |  |  |  |
| At December 31, 2023
| Current |  | 30-60 Days Past Due |  | 61-90 Days Past Due |  | 90+ Days Past Due |  | Modified |  |  |  |
| (In thousands)
Total Modifications | $ | 41,993 |  |  | 16 |  |  | — |  |  | 92 |  |  | — |  |  |  |  |

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