XML 31 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2024
Allowance For Loan And Lease Losses [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
The ACL was $125.4 million as of December 31, 2024 as compared to $121.5 million at December 31, 2023. The provision for credit losses on loans of $6.5 million during the year ended December 31, 2024 was comprised of $2.5 million in qualitative reserves, $1.4 million in quantitative reserves and $2.6 million in net charge-offs. The qualitative components of the ACL increased reserve requirements due largely to the continued rise in CA unemployment and US policy uncertainty. This forecast data continues to evolve and includes improving shifts in the magnitude of changes for both the unemployment and GDP factors leading up to the balance sheet date. Core inflation is slowing but prices remain elevated relative to wage increases, as reflected by higher living costs such as housing, energy and general services. Actions by the Federal Reserve to cut rates during 2024 and beyond may help improve this outlook overall, but the uncertainty associated with the extent and timing of these potential reductions has inhibited a material change to forecasted reserve levels. Furthermore, geopolitical risks remain elevated, which may lead to further negative effects on domestic economic outcomes. As a result, management continues to believe that certain credit weaknesses are present in the overall economy and that it is appropriate to maintain a reserve level that incorporates such risk factors.
The remaining increase in the allowance for credit reserves related to quantitative metrics was largely driven by increases in classified loan balances and individual reserves on specific loans.

(dollars in thousands)December 31, 2024December 31, 2023
Allowance for credit losses:
Qualitative and forecast factor allowance$86,833 $84,291 
Quantitative (Cohort) model allowance33,908 34,139 
Total allowance for credit losses120,741 118,430 
Allowance for individually evaluated loans4,625 3,092 
Total allowance for credit losses$125,366 $121,522 
The following tables summarize the activity in the allowance for credit losses, and ending balance of loans, net of unearned fees for the periods indicated.
Allowance for Credit Losses – December 31, 2024
(in thousands)Beginning
Balance		Charge-offsRecoveriesProvision for
(Benefit From)
Credit Losses		Ending 
Balance
Commercial real estate:
CRE non-owner occupied$35,077 $— $187 $1,965 $37,229 
CRE owner occupied15,081 — 2 664 15,747 
Multifamily14,418 — — 1,495 15,913 
Farmland4,288 — — (328)3,960 
Total commercial real estate loans68,864 — 189 3,796 72,849 
Consumer:
SFR 1-4 1st DT liens14,009 (27)— 245 14,227 
SFR HELOCs and junior liens10,273 (41)395 (216)10,411 
Other3,171 (746)217 183 2,825 
Total consumer loans27,453 (814)612 212 27,463 
Commercial and industrial12,750 (1,787)547 2,887 14,397 
Construction8,856 — — (1,632)7,224 
Agriculture production3,589 (1,450)65 1,199 3,403 
Leases10 — — 20 30 
Allowance for credit losses on loans121,522 (4,051)1,413 6,482 125,366 
Reserve for unfunded commitments5,850 — — 150 6,000 
Total$127,372 $(4,051)$1,413 $6,632 $131,366 
Allowance for Credit Losses – December 31, 2023
(in thousands)Beginning
Balance		Charge-offsRecoveriesProvision for
(Benefit from)
Credit Losses		Ending 
Balance
Commercial real estate:
CRE non-owner occupied$30,962 $— $— $4,115 $35,077 
CRE owner occupied14,014 (3,637)2 4,702 15,081 
Multifamily13,132 — — 1,286 14,418 
Farmland3,273 — — 1,015 4,288 
Total commercial real estate loans61,381 (3,637)2 11,118 68,864 
Consumer:
SFR 1-4 1st DT liens11,268 — 262 2,479 14,009 
SFR HELOCs and junior liens11,413 (66)723 (1,797)10,273 
Other1,958 (558)190 1,581 3,171 
Total consumer loans24,639 (624)1,175 2,263 27,453 
Commercial and industrial13,597 (3,879)316 2,716 12,750 
Construction5,142 — — 3,714 8,856 
Agriculture production906 — 34 2,649 3,589 
Leases15 — — (5)10 
Allowance for credit losses on loans105,680 (8,140)1,527 22,455 121,522 
Reserve for unfunded commitments4,315 — — 1,535 5,850 
Total$109,995 $(8,140)$1,527 $23,990 $127,372 
Allowance for Credit Losses – December 31, 2022
(in thousands)Beginning
Balance		ACL on PCD LoansCharge-offsRecoveriesProvision for
(Benefit from)
Credit Losses		Ending 
Balance
Commercial real estate:
CRE non-owner occupied$25,739 $746 $— $1 $4,476 $30,962 
CRE owner occupied10,691 63 — 2 3,258 14,014 
Multifamily12,395 — — — 737 13,132 
Farmland2,315 764 (294)— 488 3,273 
Total commercial real estate loans51,140 1,573 (294)3 8,959 61,381 
Consumer:
SFR 1-4 1st DT liens10,723 144 — 79 322 11,268 
SFR HELOCs and junior liens10,510 — (22)429 496 11,413 
Other2,241 — (572)235 54 1,958 
Total consumer loans23,474 144 (594)743 872 24,639 
Commercial and industrial3,862 81 (697)1,157 9,194 13,597 
Construction5,667 201 — — (726)5,142 
Agriculture production1,215 38 — 4 (351)906 
Leases18 — — — (3)15 
Allowance for credit losses on loans85,376 2,037 (1,585)1,907 17,945 105,680 
Reserve for unfunded commitments3,790 — — — 525 4,315 
Total$89,166 $2,037 $(1,585)$1,907 $18,470 $109,995 
As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including, but not limited to, trends relating to (i) the level of criticized and classified loans, (ii) net charge-offs, (iii) non-performing loans, and (iv) delinquency within the portfolio. The Company analyzes loans individually to classify the loans as to credit risk and grading. This analysis is performed annually for all outstanding balances greater than $1.0 million and non-homogeneous loans, such as commercial real estate loans, unless other indicators, such as delinquency, trigger more frequent evaluation. Loans below the $1.0 million threshold and homogenous in nature are evaluated as needed for proper grading based on delinquency and borrower credit scores.
Collateral values may be determined by appraisals obtained through Bank approved, licensed appraisers, qualified independent third parties, public value information (blue book values for autos), sales invoices, or other appropriate means. Appropriate valuations are obtained at initiation of the credit and periodically (every 3-12 months depending on collateral type) once repayment is questionable and the loan has been classified.
The Company utilizes a risk grading system to assign a risk grade to each of its loans. Loans are graded on a scale ranging from Pass to Loss. A description of the general characteristics of the risk grades is as follows:
•Pass – This grade represents loans ranging from acceptable to very little or no credit risk. These loans typically meet most if not all policy standards in regard to: loan amount as a percentage of collateral value, debt service coverage, profitability, leverage, and working capital.
•Special Mention – This grade represents “Other Assets Especially Mentioned” in accordance with regulatory guidelines and includes loans that display some potential weaknesses which, if left unaddressed, may result in deterioration of the repayment prospects for the asset or may inadequately protect the Company’s position in the future. These loans warrant more than normal supervision and attention.
•Substandard – This grade represents “Substandard” loans in accordance with regulatory guidelines. Loans within this rating typically exhibit weaknesses that are well defined to the point that repayment is jeopardized. Loss potential is, however, not necessarily evident. The underlying collateral supporting the credit appears to have sufficient value to protect the Company from loss of principal and accrued interest, or the loan has been written down to the point where this is true. There is a definite need for a well-defined workout/rehabilitation program.
•Doubtful – This grade represents “Doubtful” loans in accordance with regulatory guidelines. An asset classified as Doubtful has all the weaknesses inherent in a loan classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and financing plans.
•Loss – This grade represents “Loss” loans in accordance with regulatory guidelines. A loan classified as Loss is considered uncollectible and of such little value that its continuance as a bankable asset is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan, even though some recovery may be affected in the future. The portion of the loan that is graded loss should be charged off no later than the end of the quarter in which the loss is identified.
The following tables present ending loan balances by loan category and risk grade for the periods indicated:
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2024
(in thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to TermTotal
Commercial real estate:
CRE non-owner occupied risk ratings
Pass$184,623 $177,650 $408,129 $282,953 $152,278 $909,735 $163,628 $— $2,278,996 
Special Mention— 836 1,688 — — 24,840 506 —27,870 
Substandard— — — — — 16,170 — —16,170 
Doubtful/Loss— — — — — — — — — 
Total CRE non-owner occupied risk ratings$184,623 $178,486 $409,817 $282,953 $152,278 $950,745 $164,134 $— $2,323,036 
Current year gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial real estate:
CRE owner occupied risk ratings
Pass$83,320 $75,804 $191,619 $177,134 $104,490 $254,282 $35,961 $— $922,610 
Special Mention1,618 — 2,699 1,731 206 11,950 — — 18,204 
Substandard— 242 7,798 5,380 3,490 3,644 47 — 20,601 
Doubtful/Loss— — — — — — — — — 
Total CRE owner occupied risk ratings$84,938 $76,046 $202,116 $184,245 $108,186 $269,876 $36,008 $— $961,415 
Current year gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial real estate:
Multifamily risk ratings
Pass$65,376 $27,904 $171,470 $294,317 $117,889 $289,229 $44,816 $— $1,011,001 
Special Mention— — — 11,926 — 207 3,393 — 15,526 
Substandard— — 480 — 554 474 — — 1,508 
Doubtful/Loss— — — — — — — — — 
Total multifamily loans$65,376 $27,904 $171,950 $306,243 $118,443 $289,910 $48,209 $— $1,028,035 
Current year gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial real estate:
Farmland risk ratings
Pass$23,780 $18,205 $45,582 $20,832 $15,066 $36,909 $44,083 $— $204,457 
Special Mention— — 2,057 7,944 47 3,764 1,356 — 15,168 
Substandard— 2,770 — 20,414 — 10,416 11,921 — 45,521 
Doubtful/Loss— — — — — — — — — 
Total farmland loans$23,780 $20,975 $47,639 $49,190 $15,113 $51,089 $57,360 $— $265,146 
Current year gross charge-offs$— $— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2024
(in thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to TermTotal
Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass$60,203 $113,467 $173,217 $241,388 $115,915 $137,361 $— $3,952 $845,503 
Special Mention— — 60 — — 892 — 239 1,191
Substandard— 244 137 3,467 2,092 6,393 — 633 12,966
Doubtful/Loss— — — — — — — — —
Total SFR 1st DT liens$60,203 $113,711 $173,414 $244,855 $118,007 $144,646 $— $4,824 $859,660 
Current year gross charge-offs$— $27 $— $— $— $— $— $— $27 
Consumer loans:
SFR HELOCs and Junior Liens risk ratings
Pass$236 $— $— $— $— $68 $345,902 $5,799 $352,005 
Special Mention— — — — — 4 6,082 327 6,413
Substandard— — — — — — 4,579 423 5,002
Doubtful/Loss— — — — — — — — —
Total SFR HELOCs and Junior Liens$236 $— $— $— $— $72 $356,563 $6,549 $363,420 
Current year gross charge-offs$— $— $— $— $— $— $41 $— $41 
Consumer loans:
Other risk ratings
Pass$10,371 $21,746 $5,891 $6,059 $4,917 $6,991 $610 $— $56,585 
Special Mention— 63 34 227 107 41 21 — 493
Substandard37 152 304 111 2 294 1 — 901
Doubtful/Loss— — — — — — — — —
Total other consumer loans$10,408 $21,961 $6,229 $6,397 $5,026 $7,326 $632 $— $57,979 
Current year gross charge-offs$385 $88 $40 $74 $37 $108 $14 $— $746 
Commercial and industrial loans:
Commercial and industrial risk ratings
Pass$73,321 $49,921 $61,634 $48,255 $3,721 $8,463 $203,978 $150 $449,443 
Special Mention137 775 1,970 63 275 851 3,197 — 7,268
Substandard272 35 682 728 — 596 12,200 47 14,560
Doubtful/Loss— — — — — — — — —
Total commercial and industrial loans$73,730 $50,731 $64,286 $49,046 $3,996 $9,910 $219,375 $197 $471,271 
Current year gross charge-offs$389 $— $178 $95 $24 $— $1,101 $— $1,787 
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2024
(in thousands)20242023202220212020PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to TermTotal
Construction loans:
Construction risk ratings
Pass$36,031 $124,759 $80,269 $11,354 $6,714 $7,359 $— $— $266,486 
Special Mention— — 13,390 — — — — — 13,390
Substandard— — — — — 57 — — 57
Doubtful/Loss— — — — — — — — —
Total construction loans$36,031 $124,759 $93,659 $11,354 $6,714 $7,416 $— $— $279,933 
Current year gross charge-offs$— $— $— $— $— $— $— $— $— 
Agriculture production loans:
Agriculture production risk ratings
Pass$265 $1,434 $2,297 $905 $175 $7,477 $133,115 $— $145,668 
Special Mention— — — — 2 218 5,192 — 5,412 
Substandard— — 138 485 107 12 — — 742 
Doubtful/Loss— — — — — — — — — 
Total agriculture production loans$265 $1,434 $2,435 $1,390 $284 $7,707 $138,307 $— $151,822 
Current year gross charge-offs$— $— $173 $— $— $— $1,277 $— $1,450 
Leases:
Lease risk ratings
Pass$6,806 $— $— $— $— $— $— $— $6,806 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful/Loss— — — — — — — — — 
Total leases$6,806 $— $— $— $— $— $— $— $6,806 
Current year gross charge-offs$— $— $— $— $— $— $— $— $— 
Total loans outstanding:
Risk ratings
Pass$544,332 $610,890 $1,140,108 $1,083,197 $521,165 $1,657,874 $972,093 $9,901 $6,539,560 
Special Mention1,755 1,674 21,898 21,891 637 42,767 19,747 566 110,935 
Substandard309 3,443 9,539 30,585 6,245 38,056 28,748 1,103 118,028 
Doubtful/Loss— — — — — — — — — 
Total loans outstanding$546,396 $616,007 $1,171,545 $1,135,673 $528,047 $1,738,697 $1,020,588 $11,570 $6,768,523 
Current year gross charge-offs$774 $115 $391 $169 $61 $108 $2,433 $— $4,051 
Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2023
(in thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to TermTotal
Commercial real estate:
CRE non-owner occupied risk ratings
Pass$180,326 $413,863 $290,210 $137,656 $206,408 $792,875 $141,686 $— $2,163,024 
Special Mention— 1,329 — 5,281 17,093 14,174 1,247 — 39,124
Substandard— — 767 — 2,139 12,540 212 — 15,658
Doubtful/Loss— — — — — — — — —
Total CRE non-owner occupied risk ratings$180,326 $415,192 $290,977 $142,937 $225,640 $819,589 $143,145 $— $2,217,806 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial real estate:
CRE owner occupied risk ratings
Pass$71,288 $196,915 $190,384 $118,457 $59,220 $268,990 $23,740 $— $928,994 
Special Mention— 5,773 1,513 2,754 703 2,678 — — 13,421 
Substandard— 2,972 7,835 — 111 3,107 — — 14,025 
Doubtful/Loss— — — — — — — — — 
Total CRE owner occupied risk ratings$71,288 $205,660 $199,732 $121,211 $60,034 $274,775 $23,740 $— $956,440 
Prior year gross charge-offs$— $— $— $1,380 $— $2,228 $29 $— $3,637 
Commercial real estate:
Multifamily risk ratings
Pass$28,445 $177,032 $279,660 $89,106 $104,108 $225,446 $33,470 $— $937,267 
Special Mention— — 11,914 — — 321 — — 12,235 
Substandard— — — — — — — — — 
Doubtful/Loss— — — — — — — — — 
Total multifamily loans$28,445 $177,032 $291,574 $89,106 $104,108 $225,767 $33,470 $— $949,502 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial real estate:
Farmland risk ratings
Pass$21,729 $46,398 $37,134 $16,006 $16,780 $41,663 $50,857 $— $230,567 
Special Mention— 2,170 5,802 51 261 734 — — 9,018 
Substandard101 813 9,053 377 — 13,266 7,859 — 31,469 
Doubtful/Loss— — — — — — — — — 
Total farmland loans$21,830 $49,381 $51,989 $16,434 $17,041 $55,663 $58,716 $— $271,054 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 
Consumer loans:
SFR 1-4 1st DT liens risk ratings
Pass$135,741 $189,920 $260,870 $125,081 $29,568 $126,975 $— $4,079 $872,234 
Special Mention71 — — — — 1,948 — 27 2,046 
Substandard— 140 1,296 1,490 531 5,265 — 436 9,158 
Doubtful/Loss— — — — — — — — — 
Total SFR 1st DT liens$135,812 $190,060 $262,166 $126,571 $30,099 $134,188 $— $4,542 $883,438 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2023
(in thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to TermTotal
Consumer loans:
SFR HELOCs and Junior Liens risk ratings
Pass$297 $— $— $— $— $96 $343,698 $6,444 $350,535 
Special Mention— — — — — — 2,274 138 2,412 
Substandard— — — — — — 3,212 654 3,866 
Doubtful/Loss— — — — — — — — — 
Total SFR HELOCs and Junior Liens$297 $— $— $— $— $96 $349,184 $7,236 $356,813 
Prior year gross charge-offs$— $— $— $— $— $— $— $66 $66 
Consumer loans:
Other risk ratings
Pass$34,441 $9,061 $8,908 $7,419 $6,825 $4,619 $659 $— $71,932 
Special Mention21 54 203 63 54 37 18 — 450 
Substandard87 183 164 30 116 52 3 — 635 
Doubtful/Loss— — — — — — — — — 
Total other consumer loans$34,549 $9,298 $9,275 $7,512 $6,995 $4,708 $680 $— $73,017 
Prior year gross charge-offs$376 $82 $— $36 $39 $9 $16 $— $558 
Commercial and industrial loans:
Commercial and industrial risk ratings
Pass$70,930 $83,184 $51,455 $9,504 $10,193 $7,636 $340,858 $318 $574,078 
Special Mention33 663 237 83 — 178 1,126 — 2,320 
Substandard— 2,014 782 103 4 762 6,318 74 10,057 
Doubtful/Loss— — — — — — — — — 
Total commercial and industrial loans$70,963 $85,861 $52,474 $9,690 $10,197 $8,576 $348,302 $392 $586,455 
Prior year gross charge-offs$153 $287 $240 $2,285 $— $— $896 $18 $3,879 
Construction loans:
Construction risk ratings
Pass$56,378 $136,294 $85,144 $47,632 $4,583 $6,518 $— $— $336,549 
Special Mention— 10,582 — — — — — — 10,582 
Substandard— — — — 67 — — — 67 
Doubtful/Loss— — — — — — — — — 
Total construction loans$56,378 $146,876 $85,144 $47,632 $4,650 $6,518 $— $— $347,198 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year – As of December 31, 2023
(in thousands)20232022202120202019PriorRevolving Loans Amortized Cost BasisRevolving Loans Converted to TermTotal
Agriculture production loans:
Agriculture production risk ratings
Pass$945 $2,749 $1,595 $396 $620 $8,491 $114,935 $— $129,731 
Special Mention— 183 543 176 — — 11,302 — 12,204 
Substandard— — — — — — 2,562 — 2,562 
Doubtful/Loss— — — — — — — — — 
Total agriculture production loans$945 $2,932 $2,138 $572 $620 $8,491 $128,799 $— $144,497 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 
Leases:
Lease risk ratings
Pass$8,250 $— $— $— $— $— $— $— $8,250 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful/Loss— — — — — — — — — 
Total leases$8,250 $— $— $— $— $— $— $— $8,250 
Prior year gross charge-offs$— $— $— $— $— $— $— $— $— 

Total loans outstanding:
Risk ratings
Pass$608,770 $1,255,416 $1,205,360 $551,257 $438,305 $1,483,309 $1,049,903 $10,841 $6,603,161 
Special Mention125 20,754 20,212 8,408 18,111 20,070 15,967 165 103,812 
Substandard188 6,122 19,897 2,000 2,968 34,992 20,166 1,164 87,497 
Doubtful/Loss— — — — — — — — — 
Total loans outstanding$609,083 $1,282,292 $1,245,469 $561,665 $459,384 $1,538,371 $1,086,036 $12,170 $6,794,470 
Prior year gross charge-offs$529 $369 $240 $3,701 $39 $2,237 $941 $84 $8,140 
Once a loan becomes delinquent and repayment becomes questionable, a Bank collection officer will address collateral shortfalls with the borrower and attempt to obtain additional collateral. If this is not forthcoming and payment in full is unlikely, the Bank will estimate its probable loss, using a recent valuation as appropriate to the underlying collateral less estimated costs of sale, and charge the loan down to the estimated net realizable amount. Depending on the length of time until ultimate collection, the Bank may revalue the underlying collateral and take additional charge-offs as warranted. Revaluations may occur as often as every 3-12 months depending on the underlying collateral and volatility of values. Final charge-offs or recoveries are taken when collateral is liquidated and actual loss is known. Unpaid balances on loans after or during collection and liquidation may also be pursued through lawsuit and attachment of wages or judgment liens on borrower’s other assets.
The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:

Analysis of Past Due Loans - As of December 31, 2024
(in thousands)30-59 days60-89 days> 90 daysTotal Past
Due Loans		CurrentTotal
Commercial real estate:
CRE non-owner occupied$221 $— $2,452 $2,673 $2,320,363 $2,323,036 
CRE owner occupied1,625 85 3,619 5,329 956,086 961,415 
Multifamily1,120 — — 1,120 1,026,915 1,028,035 
Farmland2,686 113 6,145 8,944256,202265,146
Total commercial real estate loans5,652 198 12,216 18,066 4,559,566 4,577,632 
Consumer:
SFR 1-4 1st DT liens— 6 1,556 1,562 858,098 859,660 
SFR HELOCs and junior liens201 852 1,078 2,131 361,289 363,420 
Other50 — 132 182 57,797 57,979 
Total consumer loans2518582,7663,8751,277,1841,281,059
Commercial and industrial537 308 9,257 10,102 461,169 471,271 
Construction— — — — 279,933 279,933 
Agriculture production37 317 314 668 151,154 151,822 
Leases— — — — 6,806 6,806 
Total$6,477 $1,681 $24,553 $32,711 $6,735,812 $6,768,523 
The following table shows the ending balance of current and past due originated loans by loan category as of the date indicated:
Analysis of Past Due Loans - As of December 31, 2023
(in thousands)30-59 days60-89 days> 90 daysTotal Past
Due Loans		CurrentTotal
Commercial real estate:
CRE non-owner occupied$3,876 $— $1,382 $5,258 $2,212,548 $2,217,806 
CRE owner occupied34 — 247 281 956,159 956,440 
Multifamily— — — — 949,502 949,502 
Farmland635 3,798 2,052 6,485 264,569271,054
Total commercial real estate loans4,545 3,798 3,681 12,024 4,382,778 4,394,802 
Consumer:
SFR 1-4 1st DT liens141 1,449 490 2,080 881,358 883,438 
SFR HELOCs and junior liens16 — 623 639 356,174 356,813 
Other148 40 30 218 72,799 73,017 
Total consumer loans3051,4891,1432,9371,310,3311,313,268
Commercial and industrial244 605 1,654 2,503 583,952 586,455 
Construction— — — — 347,198 347,198 
Agriculture production593 878 33 1,504 142,993 144,497 
Leases447 — — 447 7,803 8,250 
Total$6,134 $6,770 $6,511 $19,415 $6,775,055 $6,794,470 
The following table shows the ending balance of non accrual loans by loan category as of the date indicated:
Non Accrual Loans
As of December 31, 2024As of December 31, 2023
(in thousands)Non accrual with no allowance for credit lossesTotal non accrualPast due 90 days or more and still accruingNon accrual with no allowance for credit lossesTotal non accrualPast due 90 days or more and still accruing
Commercial real estate:
CRE non-owner occupied$3,017 $3,017 $— $2,024 $2,024 $— 
CRE owner occupied3,632 3,874 — 3,994 3,994 — 
Multifamily480 480 — — — — 
Farmland12,483 16,195 — 5,996 14,484 — 
Total commercial real estate loans19,612 23,566 — 12,014 20,502 — 
Consumer:
SFR 1-4 1st DT liens5,979 5,979 — 2,808 2,811 — 
SFR HELOCs and junior liens3,370 3,868 — 3,281 3,571 — 
Other41 204 — 39 105 — 
Total consumer loans9,390 10,051 — 6,128 6,487 — 
Commercial and industrial830 9,707 59 1,379 2,503 10 
Construction57 57 — 67 67 — 
Agriculture production— 656 — — 2,322 — 
Leases— — — — — — 
Sub-total29,88944,03759 19,58831,88110 
Less: Guaranteed loans(828)(816)— (766)(878)— 
Total, net$29,061 $43,221 $59 $18,822 $31,003 $10 
Interest income on non accrual loans that would have been recognized during the years ended December 31, 2024, 2023, and 2022, if all such loans had been current in accordance with their original terms, totaled $4.2 million, $2.5 million, and $1.4 million, respectively. Interest income actually recognized on these loans during the years ended December 31, 2024, 2023, and 2022 was $0.8 million, $1.0 million, and $0.6 million, respectively.
The following tables present the amortized cost basis of collateral dependent loans by class of loans as of the following periods:

As of December 31, 2024
(in thousands)RetailOfficeWarehouseOtherMultifamilyFarmlandSFR -1st DeedSFR -2nd DeedAutomobile/TruckA/R and InventoryEquipmentTotal
Commercial real estate:
CRE non-owner occupied$2,452 $356 $— $210 $— $— $— $— $— $— $— $3,018 
CRE owner occupied— 260 142 3,472 — — — — — — — 3,874 
Multifamily— — — — 480 — — — — — — 480 
Farmland— — — — — 16,448 — — — — — 16,448 
Total commercial real estate loans2,452 616 142 3,682 480 16,448 — — — — — 23,820 
Consumer:
SFR 1-4 1st DT liens— — — — — — 5,979 — — — — 5,979 
SFR HELOCs and junior liens— — — — — — 1,291 2,079 — — — 3,370 
Other— — — — — — — — 132 — — 132 
Total consumer loans— — — — — — 7,270 2,079 132 — — 9,481 
Commercial and industrial— — — 8,334 — — — 54 — 530 788 9,706 
Construction— — — — — — 57 — — — — 57 
Agriculture production— — — — — — — — — — 12 12 
Leases— — — — — — — — — — — — 
Total$2,452 $616 $142 $12,016 $480 $16,448 $7,327 $2,133 $132 $530 $800 $43,076 



As of December 31, 2023
(in thousands)RetailOfficeWarehouseOtherMultifamilyFarmlandSFR -1st DeedSFR -2nd DeedAutomobile/TruckA/R and InventoryEquipmentTotal
Commercial real estate:
CRE non-owner occupied$124 $615 $519 $766 $— $— $— $— $— $— $— $2,024 
CRE owner occupied614 — 297 3,083 — — — — — — — 3,994 
Multifamily— — — — — — — — — — — — 
Farmland— — — 635 — 13,849 — — — — — 14,484 
Total commercial real estate loans738 615 816 4,484 — 13,849 — — — — — 20,502 
Consumer:
SFR 1-4 1st DT liens— — — — — — 2,808 — — — — 2,808 
SFR HELOCs and junior liens— — — — — — 1,816 1,467 — — — 3,283 
Other— — — — — — — — 95 — — 95 
Total consumer loans— — — — — — 4,624 1,467 95 — — 6,186 
Commercial and industrial— — — — — — — — — 1,712 791 2,503 
Construction— — — — — — 67 — — — — 67 
Agriculture production— — — 2,288 — — — — — — 33 2,321 
Leases— — — — — — — — — — — — 
Total$738 $615 $816 $6,772 $— $13,849 $4,691 $1,467 $95 $1,712 $824 $31,579 
Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral.

The following tables show the amortized cost basis of loans that were both experiencing financial difficulty and modified during the periods presented. 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 receivables is also presented below.

For the twelve months ended December 31, 2024
(in thousands)Combination - Term Extension / Rate ChangePayment Delay / ExtensionTotal % of Loans Outstanding
Commercial real estate:
CRE non-owner occupied$211 $— 0.01 %
CRE owner occupied219 — 0.02 %
Multifamily— 295 0.03 %
Total commercial real estate loans430 295 0.02 %
Consumer:
SFR HELOCs and junior liens— 41 0.01 %
Total consumer loans— 41 nm
Commercial and industrial— 1,008 0.21 %
Total$430 $1,344 0.03 %

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the twelve months ended December 31, 2024:
Twelve Months Ended
Modification TypeLoan TypeFinancial Effect
Combination - term extension / rate changeCRE non-owner occupied
Added 120 months to the life of the loan; converted from variable to fixed interest rate
Combination - term extension / rate changeCRE owner occupied
Added 24 months to the life of the loan; converted from variable to fixed
Payment delay / term extensionMultifamily
Added 12 months to the life of the loan
Payment delay / term extensionSFR HELOCs and junior liens
Added 60 months to the life of the loan
Payment delay / term extensionCommercial and industrial
Added a weighted average 53 months to the life of the loans
For the twelve months ended December 31, 2023
(in thousands)Payment Delay /ExtensionCombination - Term Change / Available Credit ReductionCombination - Payment Delay / Term ReductionFor the Total % of Loans Outstanding
Commercial real estate:
Farmland$— $— $1,430 0.53 %
Commercial and industrial152 60 — 0.08 %
Total$152 $60 $1,430 0.02 %

The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the twelve months ended December 31, 2023:

Twelve Months Ended
Modification TypeLoan TypeFinancial Effect
Combination - payment delay / term reductionFarmland
Changed loan terms from fully amortizing to interest-only with balloon, and reduced the loan maturity by 12 months, which reduced the loan payment owed by the borrowers
Payment delay / extensionCommercial and industrial
Added 12 months to the life of the loan, which reduced the payment owed by the borrowers
Payment delay / extensionCommercial and industrialChanged loan terms from fully amortizing to interest-only with balloon, which reduced the payment owed by the borrowers
Combination - term change / available credit reductionCommercial and industrial
Added 60 months to the life of the loan to avoid balloon repayment and reduced available credit
There were no loans with payment defaults by borrowers experiencing financial difficulty during the year ended December 31, 2024 which had material modifications in rate, term or principal forgiveness during the twelve months prior to default.