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Loans

9 Months Ended

Sep. 30, 2024

Note 5 Loans

The loan portfolio is comprised of loans originated by the Company and loans that were acquired in connection with the Company’s acquisitions. The tables below show the loan portfolio composition including carrying value by segment as of the dates shown. The carrying value of loans is net of discounts, fees, costs and fair value marks of $31.0 million and $33.6 million as of September 30, 2024 and December 31, 2023, respectively.


	September 30, 2024
	Total loans		% of total
Commercial	$	4,581,372	59.4%
Commercial real estate non-owner occupied		1,834,180	23.8%
Residential real estate		1,283,560	16.6%
Consumer		15,383	0.2%
Total	$	7,714,495	100.0%


	December 31, 2023
	Total loans		% of total
Commercial	$	4,499,035	58.4%
Commercial real estate non-owner occupied		1,856,750	24.1%
Residential real estate		1,323,787	17.2%
Consumer		19,186	0.3%
Total	$	7,698,758	100.0%

Information about delinquent and non-accrual loans is shown in the following tables at September 30, 2024 and December 31, 2023:


	September 30, 2024
			Greater
	30-89 days		than 90 days				Total past
	past due and		past due and		Non-accrual		due and
	accruing		accruing		loans		non-accrual		Current		Total loans
Commercial:
Commercial and industrial	$	15,678	$	9,508	$	9,556	$	34,742	$	1,976,771	$	2,011,513
Municipal and non-profit		187		—		—		187		1,096,937		1,097,124
Owner occupied commercial real estate		8,691		—		532		9,223		1,162,036		1,171,259
Food and agribusiness		—		—		587		587		300,889		301,476
Total commercial		24,556		9,508		10,675		44,739		4,536,633		4,581,372
Commercial real estate non-owner occupied:
Construction		—		—		—		—		307,214		307,214
Acquisition/development		112		—		—		112		91,059		91,171
Multifamily		—		—		—		—		334,576		334,576
Non-owner occupied		5,799		—		5,859		11,658		1,089,561		1,101,219
Total commercial real estate non-owner occupied		5,911		—		5,859		11,770		1,822,410		1,834,180
Residential real estate:
Senior lien		168		—		6,231		6,399		1,188,148		1,194,547
Junior lien		489		—		672		1,161		87,852		89,013
Total residential real estate		657		—		6,903		7,560		1,276,000		1,283,560
Consumer		129		1		108		238		15,145		15,383
Total loans	$	31,253	$	9,509	$	23,545	$	64,307	$	7,650,188	$	7,714,495


	September 30, 2024
	Non-accrual loans		Non-accrual loans
	with a related		with no related
	allowance for		allowance for		Non-accrual
	credit loss		credit loss		loans
Commercial:
Commercial and industrial	$	9,162	$	394	$	9,556
Owner occupied commercial real estate		425		107		532
Food and agribusiness		1		586		587
Total commercial		9,588		1,087		10,675
Commercial real estate non-owner occupied:
Non-owner occupied		—		5,859		5,859
Total commercial real estate non-owner occupied		—		5,859		5,859
Residential real estate:
Senior lien		2,759		3,472		6,231
Junior lien		450		222		672
Total residential real estate		3,209		3,694		6,903
Consumer		108		—		108
Total loans	$	12,905	$	10,640	$	23,545


	December 31, 2023
			Greater
	30-89 days		than 90 days				Total past
	past due and		past due and		Non-accrual		due and
	accruing		accruing		loans		non-accrual		Current		Total loans
Commercial:
Commercial and industrial	$	9,179	$	—	$	2,250	$	11,429	$	1,955,480	$	1,966,909
Municipal and non-profit		—		—		—		—		1,083,756		1,083,756
Owner occupied commercial real estate		—		—		755		755		1,123,018		1,123,773
Food and agribusiness		—		12		5,762		5,774		318,823		324,597
Total commercial		9,179		12		8,767		17,958		4,481,077		4,499,035
Commercial real estate non-owner occupied:
Construction		—		—		—		—		405,250		405,250
Acquisition/development		1,077		—		—		1,077		99,019		100,096
Multifamily		—		—		—		—		311,770		311,770
Non-owner occupied		60		—		13,472		13,532		1,026,102		1,039,634
Total commercial real estate non-owner occupied		1,137		—		13,472		14,609		1,842,141		1,856,750
Residential real estate:
Senior lien		1,410		50		5,488		6,948		1,226,651		1,233,599
Junior lien		375		528		448		1,351		88,837		90,188
Total residential real estate		1,785		578		5,936		8,299		1,315,488		1,323,787
Consumer		131		1		53		185		19,001		19,186
Total loans	$	12,232	$	591	$	28,228	$	41,051	$	7,657,707	$	7,698,758


	December 31, 2023
	Non-accrual loans		Non-accrual loans
	with a related		with no related
	allowance for		allowance for		Non-accrual
	credit loss		credit loss		loans
Commercial:
Commercial and industrial	$	2,250	$	—	$	2,250
Owner occupied commercial real estate		755		—		755
Food and agribusiness		5,176		586		5,762
Total commercial		8,181		586		8,767
Commercial real estate non-owner occupied:
Non-owner occupied		13,472		—		13,472
Total commercial real estate non-owner occupied		13,472		—		13,472
Residential real estate:
Senior lien		3,277		2,211		5,488
Junior lien		448		—		448
Total residential real estate		3,725		2,211		5,936
Consumer		53		—		53
Total loans	$	25,431	$	2,797	$	28,228

Loans are considered past due or delinquent when the contractual principal or interest due in accordance with the terms of the loan agreement remains unpaid after the due date of the scheduled payment. Loans to borrowers experiencing financial difficulties may be modified. Modified loans are discussed in more detail below. There was no interest income recognized from non-accrual loans during the three or nine months ended September 30, 2024 or 2023.

The Company’s internal risk rating system uses a series of grades, which reflect our assessment of the credit quality of loans based on an analysis of the borrower's financial condition, liquidity and ability to meet contractual debt service requirements and are categorized as “Pass,” “Special mention,” “Substandard” and “Doubtful”. For a description of the general characteristics of the risk grades, refer to note 2 Summary of Significant Accounting Policies in our audited consolidated financial statements in our 2023 Annual Report on Form 10-K.

The amortized cost basis and current period gross charge-offs for all loans as determined by the Company’s internal risk rating system and year of origination is shown in the following tables as of and for the nine months ended September 30, 2024 and the year ended December 31, 2023:


	September 30, 2024
													Revolving		Revolving
													loans		loans
	Origination year												amortized		converted
	2024		2023		2022		2021		2020		Prior		cost basis		to term		Total
Commercial:
Commercial and industrial:
Pass	$	369,871	$	250,499	$	351,692	$	250,042	$	70,007	$	111,649	$	438,616	$	12,942	$	1,855,318
Special mention		5,024		14,944		11,652		31,476		10,577		7,293		24,569		2,461		107,996
Substandard		6,311		17,821		10,495		2,761		2,741		847		2,902		371		44,249
Doubtful		—		2,433		98		15		975		56		—		373		3,950
Total commercial and industrial		381,206		285,697		373,937		284,294		84,300		119,845		466,087		16,147		2,011,513
Gross charge-offs: Commercial and industrial		—		—		—		26		155		56		—		—		237
Municipal and non-profit:
Pass		77,016		147,281		139,976		220,318		75,506		408,372		26,696		—		1,095,165
Special mention		—		—		—		—		1,959		—		—		—		1,959
Total municipal and non-profit		77,016		147,281		139,976		220,318		77,465		408,372		26,696		—		1,097,124
Owner occupied commercial real estate:
Pass		167,970		207,547		234,000		134,284		86,481		227,224		20,594		—		1,078,100
Special mention		430		8,844		21,459		22,907		1,198		26,474		100		—		81,412
Substandard		—		—		3,366		3,406		—		3,645		846		—		11,263
Doubtful		—		—		—		—		—		484		—		—		484
Total owner occupied commercial real estate		168,400		216,391		258,825		160,597		87,679		257,827		21,540		—		1,171,259
Gross charge-offs: Owner occupied commercial real estate		—		—		13		—		—		—		—		—		13
Food and agribusiness:
Pass		14,943		10,873		73,967		11,003		6,041		35,238		145,464		—		297,529
Special mention		—		—		—		3,148		—		212		—		—		3,360
Substandard		—		—		—		586		—		1		—		—		587
Total food and agribusiness		14,943		10,873		73,967		14,737		6,041		35,451		145,464		—		301,476
Gross charge-offs: Food and agribusiness		—		—		—		—		—		2,704		—		—		2,704
Total commercial		641,565		660,242		846,705		679,946		255,485		821,495		659,787		16,147		4,581,372
Gross charge-offs: Commercial		—		—		13		26		155		2,760		—		—		2,954
Commercial real estate non-owner occupied:
Construction:
Pass		29,621		68,663		94,585		36,638		29,251		—		45,967		453		305,178
Special mention		—		—		2,036		—		—		—		—		—		2,036
Total construction		29,621		68,663		96,621		36,638		29,251		—		45,967		453		307,214
Acquisition/development:
Pass		15,649		4,916		36,663		21,646		1,229		8,279		699		—		89,081
Special mention		—		—		1,075		717		—		—		—		—		1,792
Substandard		—		—		—		—		—		298		—		—		298
Total acquisition/development		15,649		4,916		37,738		22,363		1,229		8,577		699		—		91,171
Multifamily:
Pass		6,822		16,465		153,335		96,174		16,687		31,199		1,956		—		322,638
Special mention		—		—		8,114		3,824		—		—		—		—		11,938
Total multifamily		6,822		16,465		161,449		99,998		16,687		31,199		1,956		—		334,576
Non-owner occupied
Pass		21,896		134,006		291,344		144,191		122,132		326,912		5,345		—		1,045,826
Special mention		5,002		14,034		—		13,091		3,808		3,992		—		—		39,927
Substandard		—		—		—		5,859		—		9,374		—		—		15,233
Doubtful		—		—		—		—		—		233		—		—		233
Total non-owner occupied		26,898		148,040		291,344		163,141		125,940		340,511		5,345		—		1,101,219
Gross charge-offs: Non-owner occupied		—		—		293		—		—		4,422		—		—		4,715
Total commercial real estate non-owner occupied		78,990		238,084		587,152		322,140		173,107		380,287		53,967		453		1,834,180
Gross charge-offs: Commercial real estate non-owner occupied		—		—		293		—		—		4,422		—		—		4,715
Residential real estate:
Senior lien
Pass		51,116		89,536		418,044		294,554		102,832		184,204		46,431		257		1,186,974
Special mention		—		—		—		—		—		17		—		—		17
Substandard		22		665		3,460		947		401		2,036		—		—		7,531
Doubtful		—		—		—		—		—		25		—		—		25
Total senior lien		51,138		90,201		421,504		295,501		103,233		186,282		46,431		257		1,194,547
Junior lien
Pass		5,587		3,597		4,626		1,584		1,905		5,833		62,204		885		86,221
Special mention		—		—		—		431		—		27		1,488		—		1,946

Substandard		45		—		146		222		89		172		172		—		846
Total junior lien		5,632		3,597		4,772		2,237		1,994		6,032		63,864		885		89,013
Total residential real estate		56,770		93,798		426,276		297,738		105,227		192,314		110,295		1,142		1,283,560
Consumer
Pass		4,260		2,379		1,738		1,128		638		200		4,884		48		15,275
Substandard		—		—		67		—		—		41		—		—		108
Total consumer		4,260		2,379		1,805		1,128		638		241		4,884		48		15,383
Gross charge-offs: Consumer		640		23		12		3		—		40		—		—		718
Total loans	$	781,585	$	994,503	$	1,861,938	$	1,300,952	$	534,457	$	1,394,337	$	828,933	$	17,790	$	7,714,495
Gross charge-offs: Total loans		640		23		318		29		155		7,222		—		—		8,387


	December 31, 2023
													Revolving		Revolving
													loans		loans
	Origination year												amortized		converted
	2023		2022		2021		2020		2019		Prior		cost basis		to term		Total
Commercial:
Commercial and industrial:
Pass	$	348,103	$	396,618	$	271,201	$	87,234	$	41,261	$	106,711	$	563,924	$	31,620	$	1,846,672
Special mention		4,775		12,259		31,895		20,340		2,202		683		18,344		3,470		93,968
Substandard		13,729		4,555		4,248		1,314		179		347		910		—		25,282
Doubtful		600		—		—		387		—		—		—		—		987
Total commercial and industrial		367,207		413,432		307,344		109,275		43,642		107,741		583,178		35,090		1,966,909
Gross charge-offs: Commercial and industrial		—		12		215		—		47		3		—		—		277
Municipal and non-profit:
Pass		139,591		140,626		246,088		82,590		53,460		389,867		31,534		—		1,083,756
Total municipal and non-profit		139,591		140,626		246,088		82,590		53,460		389,867		31,534		—		1,083,756
Owner occupied commercial real estate:
Pass		236,897		275,644		181,472		97,523		86,761		163,997		18,281		—		1,060,575
Special mention		2,074		19,191		7,808		—		2,650		27,653		—		—		59,376
Substandard		—		515		1,732		—		687		234		—		—		3,168
Doubtful		—		6		—		—		—		648		—		—		654
Total owner occupied commercial real estate		238,971		295,356		191,012		97,523		90,098		192,532		18,281		—		1,123,773
Food and agribusiness:
Pass		16,917		69,212		14,159		15,379		10,417		34,592		149,125		51		309,852
Special mention		—		—		4,646		—		—		3,724		450		—		8,820
Substandard		—		—		586		—		—		180		1,786		—		2,552
Doubtful		—		—		—		—		—		—		3,373		—		3,373
Total food and agribusiness		16,917		69,212		19,391		15,379		10,417		38,496		154,734		51		324,597
Total commercial		762,686		918,626		763,835		304,767		197,617		728,636		787,727		35,141		4,499,035
Gross charge-offs: Commercial		—		12		215		—		47		3		—		—		277
Commercial real estate non-owner occupied:
Construction:
Pass		43,385		190,826		59,477		63,486		1,006		—		47,070		—		405,250
Total construction		43,385		190,826		59,477		63,486		1,006		—		47,070		—		405,250
Acquisition/development:
Pass		13,228		39,000		21,011		5,992		597		8,814		7,416		2,961		99,019
Special mention		—		1,077		—		—		—		—		—		—		1,077
Total acquisition/development		13,228		40,077		21,011		5,992		597		8,814		7,416		2,961		100,096
Multifamily:
Pass		16,450		113,936		92,574		16,938		39,371		31,671		830		—		311,770
Total multifamily		16,450		113,936		92,574		16,938		39,371		31,671		830		—		311,770
Non-owner occupied
Pass		116,168		241,563		172,042		91,188		124,291		236,694		6,694		—		988,640
Special mention		—		—		—		21,268		3,876		2,489		—		—		27,633
Substandard		—		—		—		—		—		19,848		—		—		19,848
Doubtful		—		—		—		280		—		3,233		—		—		3,513
Total non-owner occupied		116,168		241,563		172,042		112,736		128,167		262,264		6,694		—		1,039,634
Total commercial real estate non-owner occupied		189,231		586,402		345,104		199,152		169,141		302,749		62,010		2,961		1,856,750
Residential real estate:
Senior lien
Pass		87,608		434,963		316,080		112,582		42,752		183,890		48,462		94		1,226,431
Special mention		—		—		—		—		—		515		—		—		515
Substandard		1,555		1,119		740		415		620		2,167		—		—		6,616
Doubtful		—		—		—		—		—		37		—		—		37
Total senior lien		89,163		436,082		316,820		112,997		43,372		186,609		48,462		94		1,233,599
Gross charge-offs: Senior lien		—		—		—		—		—		48		—		—		48
Junior lien
Pass		4,920		4,464		1,712		2,947		2,270		4,729		66,441		684		88,167
Special mention		—		—		—		—		—		27		249		—		276
Substandard		263		149		236		758		—		339		—		—		1,745
Total junior lien		5,183		4,613		1,948		3,705		2,270		5,095		66,690		684		90,188
Total residential real estate		94,346		440,695		318,768		116,702		45,642		191,704		115,152		778		1,323,787
Gross charge-offs: Residential real estate		—		—		—		—		—		48		—		—		48
Consumer
Pass		5,945		3,330		2,233		997		244		410		5,947		27		19,133
Substandard		—		—		—		—		—		50		3		—		53
Total consumer		5,945		3,330		2,233		997		244		460		5,950		27		19,186
Gross charge-offs: Consumer		1,225		13		1		2		1		8		—		—		1,250
Total loans	$	1,052,208	$	1,949,053	$	1,429,940	$	621,618	$	412,644	$	1,223,549	$	970,839	$	38,907	$	7,698,758
Gross charge-offs: Total loans		1,225		25		216		2		48		59		—		—		1,575

Loans evaluated individually

We evaluate loans individually when they no longer share risk characteristics with pooled loans. These loans include loans on non-accrual status, loans in bankruptcy, and modified loans as described below. If a specific allowance is warranted based on the borrower’s overall financial condition, the specific allowance is calculated based on discounted expected cash flows using the loan’s initial contractual effective interest rate or the fair value of the collateral less selling costs for collateral-dependent loans.

A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. Management individually evaluates collateral-dependent loans with an amortized cost basis of $250 thousand or more and includes collateral-dependent loans less than $250 thousand within the general allowance population. The amortized cost basis of collateral-dependent loans over $250 thousand was as follows at September 30, 2024 and December 31, 2023:


	September 30, 2024
					Total amortized
	Real property		Business assets		cost basis
Commercial:
Commercial and industrial	$	2,800	$	6,863	$	9,663
Owner occupied commercial real estate		1,450		—		1,450
Food and agribusiness		586		—		586
Total commercial		4,836		6,863		11,699
Commercial real estate non-owner occupied:
Non-owner occupied		11,127		—		11,127
Total commercial real estate non-owner occupied		11,127		—		11,127
Residential real estate:
Senior lien		4,770		—		4,770
Junior lien		183		39		222
Total residential real estate		4,953		39		4,992
Total loans	$	20,916	$	6,902	$	27,818


	December 31, 2023
					Total amortized
	Real property		Business assets		cost basis
Commercial:
Commercial and industrial	$	1,946	$	220	$	2,166
Owner occupied commercial real estate		1,883		—		1,883
Food and agribusiness		586		5,159		5,745
Total commercial		4,415		5,379		9,794
Commercial real estate non-owner occupied:
Non-owner occupied		19,993		—		19,993
Total commercial real estate non-owner occupied		19,993		—		19,993
Residential real estate:
Senior lien		2,661		—		2,661
Total residential real estate		2,661		—		2,661
Total loans	$	27,069	$	5,379	$	32,448

Loan modifications

The Company’s policy is to review each prospective credit to determine the appropriateness and the adequacy of security or collateral prior to making a loan. In the event of borrower default, the Company seeks recovery in compliance with lending laws, the respective loan agreements, and credit monitoring and remediation procedures that may include modifying a loan to provide a concession by the Company to the borrower from their original terms due to borrower financial difficulties in order to facilitate repayment. The Company considers loans to borrowers experiencing financial difficulties, where such a concession is utilized, to be troubled debt modifications (“TDM”). TDMs may include principal forgiveness, interest rate reductions, other-than-insignificant-payment delays, term extensions or any combination thereof.

The following schedule presents, by loan class, the amortized cost basis for loans to borrowers experiencing financial difficulty that remain outstanding and were modified within the three months ended September 30, 2024:


	As of and for the three months ended September 30, 2024
				Combination - interest rate
	Payment delay			reduction and term extension
	Amortized		% of loan	Amortized		% of loan
	cost basis		class	cost basis		class
Commercial:
Commercial and industrial	$	2,849	0.1%	$	—	0.0%
Total commercial		2,849	0.1%		—	0.0%
Residential real estate:
Junior lien		—	0.0%		45	0.1%
Total residential real estate		—	0.0%		45	0.0%
Total loans	$	2,849	0.0%	$	45	0.0%

The following schedules present, by loan class, the amortized cost basis for loans to borrowers experiencing financial difficulty that remain outstanding and were modified within the nine months ended September 30, 2024 and 2023:


	As of and for the nine months ended September 30, 2024
							Combination - interest rate			Combination - term extension
	Term extension			Payment delay			reduction and term extension			and payment delay
	Amortized		% of loan	Amortized		% of loan	Amortized		% of loan	Amortized		% of loan
	cost basis		class	cost basis		class	cost basis		class	cost basis		class
Commercial:
Commercial and industrial	$	7,621	0.4%	$	2,849	0.1%	$	—	0.0%	$	—	0.0%
Owner occupied commercial real estate		—	0.0%		1,664	0.1%		—	0.0%		—	0.0%
Total commercial		7,621	0.2%		4,513	0.1%		—	0.0%		—	0.0%
Commercial real estate non-owner occupied:
Non-owner occupied		5,435	0.5%		—	0.0%		—	0.0%		—	0.0%
Total commercial real estate non-owner occupied		5,435	0.3%		—	0.0%		—	0.0%		—	0.0%
Residential real estate:
Senior lien		—	0.0%		854	0.1%		22	0.0%		382	0.0%
Junior lien		—	0.0%		—	0.0%		45	0.1%		—	0.0%
Total residential real estate		—	0.0%		854	0.1%		67	0.0%		382	0.0%
Total loans	$	13,056	0.2%	$	5,367	0.1%	$	67	0.0%	$	382	0.0%


	September 30, 2023
	Term extension			Payment delay
	Amortized		% of loan	Amortized		% of loan
	cost basis		class	cost basis		class
Commercial:
Commercial and industrial	$	—	0.0%	$	114	0.0%
Total commercial		—	0.0%		114	0.0%
Commercial real estate non-owner occupied:
Non-owner occupied		18,764	1.8%		—	0.0%
Total commercial real estate non-owner occupied		18,764	1.0%		—	0.0%
Residential real estate:
Senior lien		653	0.1%			0.0%
Total residential real estate		653	0.1%		—	0.0%
Total loans	$	19,417	0.3%	$	114	0.0%

The following schedules present, by loan class, the payment status of loans that have been modified in the last twelve months as of the dates presented on an amortized cost basis:


	September 30, 2024
	Current		30-89 days past due		Non-accrual
Commercial:
Commercial and industrial	$	2,849	$	7,621	$	5,354
Owner occupied commercial real estate		1,664		—		—
Total commercial		4,513		7,621		5,354
Commercial real estate non-owner occupied:
Non-owner occupied		167		5,268		—
Total commercial real estate non-owner occupied		167		5,268		—
Residential real estate:
Senior lien		854		—		404
Junior lien		—		—		45
Total residential real estate		854		—		449
Total loans	$	5,534	$	12,889	$	5,803


	September 30, 2023
	Current		30-89 days past due		Non-accrual
Commercial:
Commercial and industrial	$	114	$	—	$	—
Total commercial		114		—		—
Commercial real estate non-owner occupied:
Non-owner occupied		5,292		—		13,472
Total commercial real estate non-owner occupied		5,292		—		13,472
Residential real estate:
Senior lien		653		—		—
Total residential real estate		653		—		—
Total loans	$	6,059	$	—	$	13,472

Accrual of interest is resumed on loans that were previously on non-accrual only after the loan has performed sufficiently for a period of time. During the three months ended September 30, 2024, the Company had no TDMs that were modified within the past 12 months that defaulted on their modified terms. During the nine months ended September 30, 2024, the Company had two TDMs with amortized costs totaling $5.7 million that were modified within the past 12 months, utilizing a combination of a term extension and payment delays, that defaulted on their modified terms. During the nine months ended September 30, 2023, the Company had one TDM with an amortized cost totaling $13.5 million that was modified within the past twelve months, utilizing a term extension, that defaulted on its modified terms. For purposes of this disclosure, the Company considers “default” to mean 90 days or more past due on principal or interest. The allowance for credit losses related to TDMs on non-accrual status is determined by individual evaluation, including collateral adequacy, using the same process as loans on non-accrual status which are not classified as TDMs.

The following schedules present the financial effect of the modifications made to borrowers experiencing financial difficulty as of and for the periods indicated:

As of and for the three months ended September 30, 2024

As of and for the nine months ended September 30, 2024

Financial effect

Payment delay

Combination - Interest rate reduction and Term extension

Term extension

Payment delay

Combination - Interest rate reduction and Term extension

Combination - Term extension and Payment delay

Commercial:

Commercial and industrial

Extended a weighted average of 0.5 years to the life of loans, which reduced monthly payment amounts

Extended a weighted average of 0.6 years to the life of loans, which reduced monthly payment amounts

Delayed payments for a weighted average of 0.5 years

Owner occupied commercial real estate

Delayed payments for a weighted average of 0.5 years

Commercial real estate non-owner occupied:

Non-owner occupied

Extended a weighted average of 0.9 years to the life of loans, which reduced monthly payment amounts

Residential real estate:

Senior lien

Delayed payments for a weighted average of 0.3 years

Reduced weighted average contractual interest rate by 1.5% and extended a weighted average of 11 years to the life of loans, which reduced monthly payment amounts

Extended a weighted average of 0.7 years to the life of loans, which reduced monthly payment amounts and delayed payments for a weighted average of 0.7 years

Junior lien

Reduced weighted average contractual interest rate by 1.1% and extended a weighted average of 10 years to the life of loans, which reduced monthly payment amounts


	September 30, 2023
	Financial effect
	Term extension	Payment delay	Combination - Interest rate reduction and Term extension
Commercial:
Commercial and industrial		Delayed payments for a weighted average of 0.2 years
Commercial real estate non-owner occupied:
Non-owner occupied	Extended a weighted average of 0.3 years to the life of loans, which reduced monthly payment amounts
Residential real estate:
Senior lien			Reduced weighted average contractual interest rate by 2.5% and extended a weighted average life of 30 years, which reduced monthly payment amounts