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Loans and Lease Receivables and Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Loans and Lease Receivables and Allowance for Credit Losses | Note 5—Loans and Lease Receivables and Allowance for Credit Losses Loan and Lease Receivables Outstanding loan and lease receivables as of December 31, 2024 and 2023 were categorized as follows:
|  | 2024 |  |  | 2023 |
Commercial real estate |  | $ | 2,351,227 |  |  | $ | 2,317,289 |
Residential real estate |  |  | 725,425 |  |  |  | 718,733 |
Construction, land development, and other land |  |  | 490,445 |  |  |  | 528,275 |
Commercial and industrial |  |  | 2,612,767 |  |  |  | 2,444,405 |
Installment and other |  |  | 3,901 |  |  |  | 3,138 |
Lease financing receivables |  |  | 709,757 |  |  |  | 659,686 |
Total loans and leases |  |  | 6,893,522 |  |  |  | 6,671,526 |
Net unamortized deferred fees and costs |  |  | 7,122 |  |  |  | 6,600 |
Initial direct costs |  |  | 6,178 |  |  |  | 6,180 |
Allowance for credit losses - loans and leases |  |  | (97,988 | ) |  |  | (101,686 | )
Net loans and leases |  | $ | 6,808,834 |  |  | $ | 6,582,620 |
|  | 2024 |  |  | 2023 |
Lease financing receivables |  |  |  |  |  |
Net minimum lease payments |  | $ | 675,754 |  |  | $ | 644,507 |
Unguaranteed residual values |  |  | 120,839 |  |  |  | 92,127 |
Unearned income |  |  | (86,836 | ) |  |  | (76,948 | )
Total lease financing receivables |  |  | 709,757 |  |  |  | 659,686 |
Initial direct costs |  |  | 6,178 |  |  |  | 6,180 |
Lease financial receivables before allowance for credits losses - loans and leases |  | $ | 715,935 |  |  | $ | 665,866 |
Total loans and leases consist of originated loans and leases, PCD loans, and acquired non-credit-deteriorated loans and leases. At December 31, 2024 and 2023, total loans and leases included the guaranteed amount of U.S. government guaranteed loans of $97.6 million and $93.3 million, respectively. At December 31, 2024 and 2023, the discount on the unguaranteed portion of the U.S. government guaranteed loans was $25.6 million and $26.2 m illion, respectively, which are included in total loans and leases. At December 31, 2024 and 2023, installment and other loans included overdraft deposits of $1.0 million and $754,000, respectively, which were reclassified as loans. At December 31, 2024 and 2023, loans and loans held for sale pledged as security for borrowings were $2.0 billion a nd $2.2 billion, respectively. The minimum annual lease payments for lease financing receivables as of December 31, 2024 are summarized as follows:
|  | Minimum Lease Payments |
2025 |  | $ | 239,191 |
2026 |  |  | 198,029 |
2027 |  |  | 135,490 |
2028 |  |  | 75,156 |
2029 |  |  | 25,498 |
Thereafter |  |  | 2,390 |
Total |  | $ | 675,754 |
Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) Originated loans and leases represent originations excluding loans initially acquired in a business combination. However, once an acquired loan reaches its maturity date, and is re-underwritten and renewed, it is internally classified as an originated loan. PCD loans are loans acquired from a business combination with evidence of more than insignificant credit deterioration and are accounted for under ASC Topic 326. Acquired non-credit-deteriorated loans and leases represent loans and leases acquired from a business combination without more than insignificant evidence of credit deterioration and are accounted for under ASC Topic 310-20. The following tables summarize the balances for each respective loan and lease category as of December 31, 2024 and 2023:
2024 |  | Originated |  |  | Purchased Credit Deteriorated |  |  | Acquired Non-Credit- Deteriorated |  |  | Total |
Commercial real estate |  | $ | 2,071,952 |  |  | $ | 82,934 |  |  | $ | 199,531 |  |  | $ | 2,354,417 |
Residential real estate |  |  | 513,422 |  |  |  | 30,515 |  |  |  | 182,165 |  |  |  | 726,102 |
Construction, land development, and other land |  |  | 429,596 |  |  |  | — |  |  |  | 59,673 |  |  |  | 489,269 |
Commercial and industrial |  |  | 2,509,083 |  |  |  | 14,081 |  |  |  | 93,969 |  |  |  | 2,617,133 |
Installment and other |  |  | 3,847 |  |  |  | 105 |  |  |  | 14 |  |  |  | 3,966 |
Lease financing receivables |  |  | 715,899 |  |  |  | — |  |  |  | 36 |  |  |  | 715,935 |
Total loans and leases |  | $ | 6,243,799 |  |  | $ | 127,635 |  |  | $ | 535,388 |  |  | $ | 6,906,822 |
2023 |  | Originated |  |  | Purchased Credit Deteriorated |  |  | Acquired Non-Credit- Deteriorated |  |  | Total |
Commercial real estate |  | $ | 1,907,029 |  |  | $ | 137,807 |  |  | $ | 275,476 |  |  | $ | 2,320,312 |
Residential real estate |  |  | 465,133 |  |  |  | 42,510 |  |  |  | 211,887 |  |  |  | 719,530 |
Construction, land development, and other land |  |  | 415,162 |  |  |  | 25,331 |  |  |  | 86,344 |  |  |  | 526,837 |
Commercial and industrial |  |  | 2,311,563 |  |  |  | 19,460 |  |  |  | 117,538 |  |  |  | 2,448,561 |
Installment and other |  |  | 2,919 |  |  |  | 125 |  |  |  | 156 |  |  |  | 3,200 |
Lease financing receivables |  |  | 665,239 |  |  |  | — |  |  |  | 627 |  |  |  | 665,866 |
Total loans and leases |  | $ | 5,767,045 |  |  | $ | 225,233 |  |  | $ | 692,028 |  |  | $ | 6,684,306 |
PCD loans—The unpaid principal balance and carrying amount of all PCD loans are summarized below. The balances do not include an allowance for credit losses of $4.2 million and $10.0 million, at December 31, 2024 and 2023, respectively.
|  | 2024 |  |  | 2023 |
|  | Unpaid Principal Balance |  |  | Carrying Value |  |  | Unpaid Principal Balance |  |  | Carrying Value |
Commercial real estate |  | $ | 123,780 |  |  | $ | 82,934 |  |  | $ | 185,007 |  |  | $ | 137,807 |
Residential real estate |  |  | 75,023 |  |  |  | 30,515 |  |  |  | 88,036 |  |  |  | 42,510 |
Construction, land development, and other land |  |  | 6,656 |  |  |  | — |  |  |  | 32,140 |  |  |  | 25,331 |
Commercial and industrial |  |  | 16,671 |  |  |  | 14,081 |  |  |  | 21,870 |  |  |  | 19,460 |
Installment and other |  |  | 769 |  |  |  | 105 |  |  |  | 789 |  |  |  | 125 |
Total purchased credit deteriorated loans |  | $ | 222,899 |  |  | $ | 127,635 |  |  | $ | 327,842 |  |  | $ | 225,233 |
The following table is a reconciliation of the acquired Inland PCD loans between their purchase price and their par value at the time of acquisition. Refer to Note 3—Acquisition of a Business for further information.
Fair value of loans at acquisition |  | $ | 214,573 |
Allowance for credit losses - loans and leases, at acquisition |  |  | 10,596 |
Non-credit discount/premium at acquisition |  |  | 17,909 |
Par value of acquired PCD loans at acquisition |  | $ | 243,078 |
Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) Acquired non-credit-deteriorated loans and leases—The unpaid principal balance and carrying value for acquired non‑credit-deteriorated loans and leases, excluding an allowance for credit losses of $3.4 million and $4.7 million at December 31, 2024 and 2023, were as follows:
|  | 2024 |  |  | 2023 |
|  | Unpaid Principal Balance |  |  | Carrying Value |  |  | Unpaid Principal Balance |  |  | Carrying Value |
Commercial real estate |  | $ | 205,558 |  |  | $ | 199,531 |  |  | $ | 284,819 |  |  | $ | 275,476 |
Residential real estate |  |  | 194,768 |  |  |  | 182,165 |  |  |  | 227,392 |  |  |  | 211,887 |
Construction, land development, and other land |  |  | 60,051 |  |  |  | 59,673 |  |  |  | 87,143 |  |  |  | 86,344 |
Commercial and industrial |  |  | 98,156 |  |  |  | 93,969 |  |  |  | 123,540 |  |  |  | 117,538 |
Installment and other |  |  | 21 |  |  |  | 14 |  |  |  | 170 |  |  |  | 156 |
Lease financing receivables |  |  | 36 |  |  |  | 36 |  |  |  | 628 |  |  |  | 627 |
Total acquired non-credit-deteriorated loans and leases |  | $ | 558,590 |  |  | $ | 535,388 |  |  | $ | 723,692 |  |  | $ | 692,028 |
The Company hedges interest rates on certain loans using interest rate swaps through which the Company pays variable amounts and receives fixed amounts. Refer to Note 21—Derivative Instruments and Hedging Activities for additional discussion. Allowance for Credit Losses The Company adopted CECL on December 31, 2022 and applied it retroactively to the period beginning January 1, 2022 using the modified retrospective method of accounting. Loans and leases considered for inclusion in the allowance for credit losses include acquired non-credit-deteriorated loans and leases, purchased credit deteriorated loans, and originated loans and leases. The Bank’s credit risk rating methodology assigns risk ratings from 1 to 10, where a higher rating represents higher risk. Risk ratings for all loans of $1.0 million or more are reviewed annually. The risk rating categories are described by the following groupings: Pass—Ratings 1‑4 define the risk levels of borrowers and guarantors that offer a minimal to an acceptable level of risk. Watch—A watch asset (rating of 5) has credit exposure that presents higher than average risk and warrants greater than routine attention by Bank personnel due to conditions affecting the borrower, the borrower’s industry or the economic environment. Special Mention—A special mention asset (rating of 6) has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. Substandard Accrual—A substandard accrual asset (rating of 7) has well‑defined weakness or weaknesses in cash flow and collateral coverage resulting in a distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. This classification may be used in limited cases, where despite credit severity, the borrower is current on payments and there is an agreed plan for credit remediation. Substandard Non‑Accrual—A substandard asset (rating of 8) has well‑defined weakness or weaknesses in cash flow and collateral coverage resulting in the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful—A doubtful asset (rating of 9) has all the weaknesses inherent in one 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. Loss—A loss asset (rating of 10) is considered uncollectible and of such little value that its continuance as a realizable asset is not warranted. Revolving loans that are converted to term loans are treated as new originations in the tables below and are presented by year of initial origination. During the years ended December 31, 2024 and 2023, $67.3 million and $52.2 million of revolving loans were converted to term loans, respectively. The following tables summarize the risk rating categories of the loans and leases considered for inclusion in the allowance for credit losses calculation as of December 31, 2024 and 2023. Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued)
|  | December 31, 2024 |
|  | Term loans amortized cost by origination year |  |  | Revolving |  |  | Total |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Loans |  |  | Loans |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 317,250 |  |  | $ | 216,761 |  |  | $ | 412,057 |  |  | $ | 456,671 |  |  | $ | 216,103 |  |  | $ | 427,163 |  |  | $ | 13,741 |  |  | $ | 2,059,746 |
Watch |  |  | 5,865 |  |  |  | 36,337 |  |  |  | 18,184 |  |  |  | 37,623 |  |  |  | 32,658 |  |  |  | 73,394 |  |  |  | — |  |  |  | 204,061 |
Special Mention |  |  | 125 |  |  |  | 6,546 |  |  |  | 3,841 |  |  |  | 6,040 |  |  |  | 2,531 |  |  |  | 24,580 |  |  |  | — |  |  |  | 43,663 |
Substandard |  |  | — |  |  |  | 827 |  |  |  | 4,247 |  |  |  | 9,376 |  |  |  | 2,829 |  |  |  | 29,668 |  |  |  | — |  |  |  | 46,947 |
Total |  | $ | 323,240 |  |  | $ | 260,471 |  |  | $ | 438,329 |  |  | $ | 509,710 |  |  | $ | 254,121 |  |  | $ | 554,805 |  |  | $ | 13,741 |  |  | $ | 2,354,417 |
Gross charge-offs, year ended December 31, 2024 |  | $ | — |  |  | $ | 1,425 |  |  | $ | 598 |  |  | $ | 282 |  |  | $ | 717 |  |  | $ | 2,660 |  |  | $ | — |  |  | $ | 5,682 |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 42,468 |  |  | $ | 70,603 |  |  | $ | 123,124 |  |  | $ | 116,874 |  |  | $ | 47,982 |  |  | $ | 219,558 |  |  | $ | 59,323 |  |  | $ | 679,932 |
Watch |  |  | — |  |  |  | 592 |  |  |  | 15,890 |  |  |  | — |  |  |  | 14,005 |  |  |  | 9,395 |  |  |  | 1,448 |  |  |  | 41,330 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,351 |  |  |  | — |  |  |  | — |  |  |  | 1,351 |
Substandard |  |  | — |  |  |  | 575 |  |  |  | 27 |  |  |  | 95 |  |  |  | 186 |  |  |  | 1,593 |  |  |  | 1,013 |  |  |  | 3,489 |
Total |  | $ | 42,468 |  |  | $ | 71,770 |  |  | $ | 139,041 |  |  | $ | 116,969 |  |  | $ | 63,524 |  |  | $ | 230,546 |  |  | $ | 61,784 |  |  | $ | 726,102 |
Gross charge-offs, year ended December 31, 2024 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Construction, Land Development, & Other Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 61,645 |  |  | $ | 143,414 |  |  | $ | 104,421 |  |  | $ | 87,816 |  |  | $ | 22,188 |  |  | $ | 2,800 |  |  | $ | 345 |  |  | $ | 422,629 |
Watch |  |  | — |  |  |  | 2,279 |  |  |  | 33,871 |  |  |  | 13,418 |  |  |  | — |  |  |  | 3,067 |  |  |  | — |  |  |  | 52,635 |
Special Mention |  |  | — |  |  |  | 2,566 |  |  |  | 1,070 |  |  |  | 10,369 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14,005 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 61,645 |  |  | $ | 148,259 |  |  | $ | 139,362 |  |  | $ | 111,603 |  |  | $ | 22,188 |  |  | $ | 5,867 |  |  | $ | 345 |  |  | $ | 489,269 |
Gross charge-offs, year ended December 31, 2024 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial & Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 399,247 |  |  | $ | 403,346 |  |  | $ | 463,495 |  |  | $ | 235,788 |  |  | $ | 83,485 |  |  | $ | 167,959 |  |  | $ | 512,779 |  |  | $ | 2,266,099 |
Watch |  |  | 1,326 |  |  |  | 60,040 |  |  |  | 35,588 |  |  |  | 31,619 |  |  |  | 1,991 |  |  |  | 19,758 |  |  |  | 63,114 |  |  |  | 213,436 |
Special Mention |  |  | — |  |  |  | 1,298 |  |  |  | 8,100 |  |  |  | 21,605 |  |  |  | 2,951 |  |  |  | 11,797 |  |  |  | 30,515 |  |  |  | 76,266 |
Substandard |  |  | 920 |  |  |  | 5,838 |  |  |  | 26,235 |  |  |  | 6,682 |  |  |  | 2,564 |  |  |  | 12,690 |  |  |  | 6,403 |  |  |  | 61,332 |
Total |  | $ | 401,493 |  |  | $ | 470,522 |  |  | $ | 533,418 |  |  | $ | 295,694 |  |  | $ | 90,991 |  |  | $ | 212,204 |  |  | $ | 612,811 |  |  | $ | 2,617,133 |
Gross charge-offs, year ended December 31, 2024 |  | $ | 184 |  |  | $ | 4,695 |  |  | $ | 5,917 |  |  | $ | 2,664 |  |  | $ | 1,754 |  |  | $ | 12,919 |  |  | $ | — |  |  | $ | 28,133 |
Installment and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 723 |  |  | $ | 298 |  |  | $ | 76 |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 368 |  |  | $ | 2,438 |  |  | $ | 3,937 |
Watch |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 4 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 25 |
Total |  | $ | 723 |  |  | $ | 298 |  |  | $ | 76 |  |  | $ | 56 |  |  | $ | 1 |  |  | $ | 368 |  |  | $ | 2,444 |  |  | $ | 3,966 |
Gross charge-offs, year ended December 31, 2024 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | 1 |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 281,246 |  |  | $ | 237,739 |  |  | $ | 130,877 |  |  | $ | 50,196 |  |  | $ | 11,905 |  |  | $ | 218 |  |  | $ | — |  |  | $ | 712,181 |
Watch |  |  | 280 |  |  |  | 658 |  |  |  | 41 |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 985 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 116 |  |  |  | — |  |  |  | — |  |  |  | 116 |
Substandard |  |  | 66 |  |  |  | 598 |  |  |  | 1,211 |  |  |  | 765 |  |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | 2,653 |
Total |  | $ | 281,592 |  |  | $ | 238,995 |  |  | $ | 132,129 |  |  | $ | 50,961 |  |  | $ | 12,040 |  |  | $ | 218 |  |  | $ | — |  |  | $ | 715,935 |
Gross charge-offs, year ended December 31, 2024 |  | $ | — |  |  | $ | 863 |  |  | $ | 799 |  |  | $ | 649 |  |  | $ | 190 |  |  | $ | 34 |  |  | $ | — |  |  | $ | 2,535 |
Total Loans and Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,102,579 |  |  | $ | 1,072,161 |  |  | $ | 1,234,050 |  |  | $ | 947,378 |  |  | $ | 381,664 |  |  | $ | 818,066 |  |  | $ | 588,626 |  |  | $ | 6,144,524 |
Watch |  |  | 7,471 |  |  |  | 99,906 |  |  |  | 103,574 |  |  |  | 82,660 |  |  |  | 48,660 |  |  |  | 105,614 |  |  |  | 64,566 |  |  |  | 512,451 |
Special Mention |  |  | 125 |  |  |  | 10,410 |  |  |  | 13,011 |  |  |  | 38,014 |  |  |  | 6,949 |  |  |  | 36,377 |  |  |  | 30,515 |  |  |  | 135,401 |
Substandard |  |  | 986 |  |  |  | 7,838 |  |  |  | 31,720 |  |  |  | 16,941 |  |  |  | 5,592 |  |  |  | 43,951 |  |  |  | 7,418 |  |  |  | 114,446 |
Total |  | $ | 1,111,161 |  |  | $ | 1,190,315 |  |  | $ | 1,382,355 |  |  | $ | 1,084,993 |  |  | $ | 442,865 |  |  | $ | 1,004,008 |  |  | $ | 691,125 |  |  | $ | 6,906,822 |
Gross charge-offs, year ended December 31, 2024 |  | $ | 184 |  |  | $ | 6,983 |  |  | $ | 7,314 |  |  | $ | 3,595 |  |  | $ | 2,661 |  |  | $ | 15,614 |  |  | $ | — |  |  | $ | 36,351 |
Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued)
|  | December 31, 2023 |
|  | Term loans amortized cost by origination year |  |  | Revolving |  |  | Total |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Loans |  |  | Loans |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 247,856 |  |  | $ | 452,127 |  |  | $ | 516,624 |  |  | $ | 229,053 |  |  | $ | 143,283 |  |  | $ | 388,872 |  |  | $ | 28,360 |  |  | $ | 2,006,175 |
Watch |  |  | 12,501 |  |  |  | 22,094 |  |  |  | 26,408 |  |  |  | 46,713 |  |  |  | 20,364 |  |  |  | 68,003 |  |  |  | — |  |  |  | 196,083 |
Special Mention |  |  | — |  |  |  | 799 |  |  |  | 10,752 |  |  |  | 2,618 |  |  |  | 12,751 |  |  |  | 25,790 |  |  |  | — |  |  |  | 52,710 |
Substandard |  |  | — |  |  |  | 2,888 |  |  |  | 5,841 |  |  |  | 1,771 |  |  |  | 7,483 |  |  |  | 46,532 |  |  |  | 829 |  |  |  | 65,344 |
Total |  | $ | 260,357 |  |  | $ | 477,908 |  |  | $ | 559,625 |  |  | $ | 280,155 |  |  | $ | 183,881 |  |  | $ | 529,197 |  |  | $ | 29,189 |  |  | $ | 2,320,312 |
Gross charge-offs, year ended December 31, 2023 |  | $ | — |  |  | $ | 193 |  |  | $ | 60 |  |  | $ | 1,511 |  |  | $ | 4,054 |  |  | $ | 3,911 |  |  | $ | — |  |  | $ | 9,729 |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 55,178 |  |  | $ | 135,477 |  |  | $ | 104,005 |  |  | $ | 54,651 |  |  | $ | 37,806 |  |  | $ | 225,593 |  |  | $ | 57,865 |  |  | $ | 670,575 |
Watch |  |  | — |  |  |  | 4,811 |  |  |  | — |  |  |  | 17,417 |  |  |  | 7,167 |  |  |  | 8,708 |  |  |  | 1,597 |  |  |  | 39,700 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,594 |  |  |  | 127 |  |  |  | 1 |  |  |  | 413 |  |  |  | 4,135 |
Substandard |  |  | — |  |  |  | — |  |  |  | 107 |  |  |  | 189 |  |  |  | 349 |  |  |  | 3,523 |  |  |  | 952 |  |  |  | 5,120 |
Total |  | $ | 55,178 |  |  | $ | 140,288 |  |  | $ | 104,112 |  |  | $ | 75,851 |  |  | $ | 45,449 |  |  | $ | 237,825 |  |  | $ | 60,827 |  |  | $ | 719,530 |
Gross charge-offs, year ended December 31, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 21 |  |  | $ | — |  |  | $ | 21 |
Construction, Land Development, & Other Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 82,449 |  |  | $ | 145,174 |  |  | $ | 184,544 |  |  | $ | 35,466 |  |  | $ | 9,772 |  |  | $ | 1,429 |  |  | $ | 174 |  |  | $ | 459,008 |
Watch |  |  | 1,392 |  |  |  | 13,990 |  |  |  | 21,313 |  |  |  | 18,716 |  |  |  | 3,125 |  |  |  | — |  |  |  | — |  |  |  | 58,536 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 9,279 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9,279 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | 14 |
Total |  | $ | 83,841 |  |  | $ | 159,164 |  |  | $ | 215,136 |  |  | $ | 54,182 |  |  | $ | 12,897 |  |  | $ | 1,443 |  |  | $ | 174 |  |  | $ | 526,837 |
Gross charge-offs, year ended December 31, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial & Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 475,720 |  |  | $ | 514,902 |  |  | $ | 288,392 |  |  | $ | 109,430 |  |  | $ | 73,059 |  |  | $ | 147,168 |  |  | $ | 524,348 |  |  | $ | 2,133,019 |
Watch |  |  | 41,027 |  |  |  | 33,080 |  |  |  | 50,407 |  |  |  | 1,385 |  |  |  | 6,951 |  |  |  | 18,180 |  |  |  | 39,531 |  |  |  | 190,561 |
Special Mention |  |  | — |  |  |  | 6,164 |  |  |  | 10,595 |  |  |  | 2,631 |  |  |  | 1,112 |  |  |  | 6,643 |  |  |  | 36,354 |  |  |  | 63,499 |
Substandard |  |  | — |  |  |  | 7,332 |  |  |  | 6,067 |  |  |  | 6,431 |  |  |  | 10,116 |  |  |  | 18,381 |  |  |  | 13,155 |  |  |  | 61,482 |
Total |  | $ | 516,747 |  |  | $ | 561,478 |  |  | $ | 355,461 |  |  | $ | 119,877 |  |  | $ | 91,238 |  |  | $ | 190,372 |  |  | $ | 613,388 |  |  | $ | 2,448,561 |
Gross charge-offs, year ended December 31, 2023 |  | $ | 1,518 |  |  | $ | 1,938 |  |  | $ | 5,372 |  |  | $ | 4,451 |  |  | $ | 1,087 |  |  | $ | 1,045 |  |  | $ | — |  |  | $ | 15,411 |
Installment and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 564 |  |  | $ | 132 |  |  | $ | 79 |  |  | $ | 133 |  |  | $ | 28 |  |  | $ | 424 |  |  | $ | 1,814 |  |  | $ | 3,174 |
Watch |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 26 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 564 |  |  | $ | 132 |  |  | $ | 104 |  |  | $ | 133 |  |  | $ | 28 |  |  | $ | 425 |  |  | $ | 1,814 |  |  | $ | 3,200 |
Gross charge-offs, year ended December 31, 2023 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 3 |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 327,099 |  |  | $ | 207,640 |  |  | $ | 93,242 |  |  | $ | 29,343 |  |  | $ | 5,443 |  |  | $ | 856 |  |  | $ | — |  |  | $ | 663,623 |
Watch |  |  | — |  |  |  | 67 |  |  |  | 1,008 |  |  |  | 16 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,091 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 179 |  |  |  | 101 |  |  |  | 36 |  |  |  | — |  |  |  | 316 |
Substandard |  |  | 259 |  |  |  | 138 |  |  |  | 384 |  |  |  | 55 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 836 |
Total |  | $ | 327,358 |  |  | $ | 207,845 |  |  | $ | 94,634 |  |  | $ | 29,593 |  |  | $ | 5,544 |  |  | $ | 892 |  |  | $ | — |  |  | $ | 665,866 |
Gross charge-offs, year ended December 31, 2023 |  | $ | 734 |  |  | $ | 886 |  |  | $ | 549 |  |  | $ | 139 |  |  | $ | 75 |  |  | $ | 54 |  |  | $ | — |  |  | $ | 2,437 |
Total Loans and Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,188,866 |  |  | $ | 1,455,452 |  |  | $ | 1,186,886 |  |  | $ | 458,076 |  |  | $ | 269,391 |  |  | $ | 764,342 |  |  | $ | 612,561 |  |  | $ | 5,935,574 |
Watch |  |  | 54,920 |  |  |  | 74,042 |  |  |  | 99,161 |  |  |  | 84,247 |  |  |  | 37,607 |  |  |  | 94,892 |  |  |  | 41,128 |  |  |  | 485,997 |
Special Mention |  |  | — |  |  |  | 6,963 |  |  |  | 30,626 |  |  |  | 9,022 |  |  |  | 14,091 |  |  |  | 32,470 |  |  |  | 36,767 |  |  |  | 129,939 |
Substandard |  |  | 259 |  |  |  | 10,358 |  |  |  | 12,399 |  |  |  | 8,446 |  |  |  | 17,948 |  |  |  | 68,450 |  |  |  | 14,936 |  |  |  | 132,796 |
Total |  | $ | 1,244,045 |  |  | $ | 1,546,815 |  |  | $ | 1,329,072 |  |  | $ | 559,791 |  |  | $ | 339,037 |  |  | $ | 960,154 |  |  | $ | 705,392 |  |  | $ | 6,684,306 |
Gross charge-offs, year ended December 31, 2023 |  | $ | 2,252 |  |  | $ | 3,017 |  |  | $ | 5,981 |  |  | $ | 6,101 |  |  | $ | 5,216 |  |  | $ | 5,034 |  |  | $ | — |  |  | $ | 27,601 |
For the years ended December 31, 2024 and 2023, there were no loans or leases which were risk rated Doubtful or Loss. Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) The following tables summarize contractual delinquency information of the loans and leases considered for inclusion in the allowance for credit losses - loans and leases calculation at December 31, 2024 and December 31, 2023:
|  | December 31, 2024 |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving Loans |  |  | Total Loans |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 323,240 |  |  | $ | 259,084 |  |  | $ | 435,352 |  |  | $ | 504,816 |  |  | $ | 251,522 |  |  | $ | 528,332 |  |  | $ | 13,741 |  |  | $ | 2,316,087 |
30-59 Days Past Due |  |  | — |  |  |  | 560 |  |  |  | — |  |  |  | 421 |  |  |  | 278 |  |  |  | 4,044 |  |  |  | — |  |  |  | 5,303 |
60-89 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 90 |  |  |  | 316 |  |  |  | 5,607 |  |  |  | — |  |  |  | 6,013 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | 827 |  |  |  | 2,977 |  |  |  | 4,383 |  |  |  | 2,005 |  |  |  | 16,822 |  |  |  | — |  |  |  | 27,014 |
Total Past Due |  |  | — |  |  |  | 1,387 |  |  |  | 2,977 |  |  |  | 4,894 |  |  |  | 2,599 |  |  |  | 26,473 |  |  |  | — |  |  |  | 38,330 |
Total |  | $ | 323,240 |  |  | $ | 260,471 |  |  | $ | 438,329 |  |  | $ | 509,710 |  |  | $ | 254,121 |  |  | $ | 554,805 |  |  | $ | 13,741 |  |  | $ | 2,354,417 |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 42,468 |  |  | $ | 71,770 |  |  | $ | 138,794 |  |  | $ | 116,874 |  |  | $ | 63,524 |  |  | $ | 227,682 |  |  | $ | 60,331 |  |  | $ | 721,443 |
30-59 Days Past Due |  |  | — |  |  |  | — |  |  |  | 220 |  |  |  | — |  |  |  | — |  |  |  | 1,185 |  |  |  | 440 |  |  |  | 1,845 |
60-89 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 218 |  |  |  | — |  |  |  | 218 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | — |  |  |  | 27 |  |  |  | 95 |  |  |  | — |  |  |  | 1,461 |  |  |  | 1,013 |  |  |  | 2,596 |
Total Past Due |  |  | — |  |  |  | — |  |  |  | 247 |  |  |  | 95 |  |  |  | — |  |  |  | 2,864 |  |  |  | 1,453 |  |  |  | 4,659 |
Total |  | $ | 42,468 |  |  | $ | 71,770 |  |  | $ | 139,041 |  |  | $ | 116,969 |  |  | $ | 63,524 |  |  | $ | 230,546 |  |  | $ | 61,784 |  |  | $ | 726,102 |
Construction, Land Development, & Other Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 61,645 |  |  | $ | 148,259 |  |  | $ | 139,362 |  |  | $ | 111,603 |  |  | $ | 22,188 |  |  | $ | 5,867 |  |  | $ | 345 |  |  | $ | 489,269 |
30-59 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
60-89 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 61,645 |  |  | $ | 148,259 |  |  | $ | 139,362 |  |  | $ | 111,603 |  |  | $ | 22,188 |  |  | $ | 5,867 |  |  | $ | 345 |  |  | $ | 489,269 |
Commercial & Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 400,574 |  |  | $ | 463,578 |  |  | $ | 519,192 |  |  | $ | 290,304 |  |  | $ | 89,163 |  |  | $ | 203,606 |  |  | $ | 609,806 |  |  | $ | 2,576,223 |
30-59 Days Past Due |  |  | 142 |  |  |  | 1,547 |  |  |  | 2,102 |  |  |  | 8 |  |  |  | 294 |  |  |  | 2,846 |  |  |  | 150 |  |  |  | 7,089 |
60-89 Days Past Due |  |  | — |  |  |  | 317 |  |  |  | 1,715 |  |  |  | 25 |  |  |  | 705 |  |  |  | 871 |  |  |  | 400 |  |  |  | 4,033 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | 777 |  |  |  | 5,080 |  |  |  | 10,409 |  |  |  | 5,357 |  |  |  | 829 |  |  |  | 4,881 |  |  |  | 2,455 |  |  |  | 29,788 |
Total Past Due |  |  | 919 |  |  |  | 6,944 |  |  |  | 14,226 |  |  |  | 5,390 |  |  |  | 1,828 |  |  |  | 8,598 |  |  |  | 3,005 |  |  |  | 40,910 |
Total |  | $ | 401,493 |  |  | $ | 470,522 |  |  | $ | 533,418 |  |  | $ | 295,694 |  |  | $ | 90,991 |  |  | $ | 212,204 |  |  | $ | 612,811 |  |  | $ | 2,617,133 |
Installment and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 723 |  |  | $ | 294 |  |  | $ | 76 |  |  | $ | 33 |  |  | $ | 1 |  |  | $ | 368 |  |  | $ | 2,442 |  |  | $ | 3,937 |
30-59 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
60-89 Days Past Due |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 25 |
Total Past Due |  |  | — |  |  |  | 4 |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | 29 |
Total |  | $ | 723 |  |  | $ | 298 |  |  | $ | 76 |  |  | $ | 56 |  |  | $ | 1 |  |  | $ | 368 |  |  | $ | 2,444 |  |  | $ | 3,966 |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 277,222 |  |  | $ | 234,755 |  |  | $ | 129,539 |  |  | $ | 49,009 |  |  | $ | 11,915 |  |  | $ | 217 |  |  | $ | — |  |  | $ | 702,657 |
30-59 Days Past Due |  |  | 2,890 |  |  |  | 1,803 |  |  |  | 795 |  |  |  | 470 |  |  |  | 53 |  |  |  | — |  |  |  | — |  |  |  | 6,011 |
60-89 Days Past Due |  |  | 1,414 |  |  |  | 1,839 |  |  |  | 584 |  |  |  | 717 |  |  |  | 59 |  |  |  | 1 |  |  |  | — |  |  |  | 4,614 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | 66 |  |  |  | 598 |  |  |  | 1,211 |  |  |  | 765 |  |  |  | 13 |  |  |  | — |  |  |  | — |  |  |  | 2,653 |
Total Past Due |  |  | 4,370 |  |  |  | 4,240 |  |  |  | 2,590 |  |  |  | 1,952 |  |  |  | 125 |  |  |  | 1 |  |  |  | — |  |  |  | 13,278 |
Total |  | $ | 281,592 |  |  | $ | 238,995 |  |  | $ | 132,129 |  |  | $ | 50,961 |  |  | $ | 12,040 |  |  | $ | 218 |  |  | $ | — |  |  | $ | 715,935 |
Total Loans and Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 1,105,872 |  |  | $ | 1,177,740 |  |  | $ | 1,362,315 |  |  | $ | 1,072,639 |  |  | $ | 438,313 |  |  | $ | 966,072 |  |  | $ | 686,665 |  |  | $ | 6,809,616 |
30-59 Days Past Due |  |  | 3,032 |  |  |  | 3,910 |  |  |  | 3,117 |  |  |  | 899 |  |  |  | 625 |  |  |  | 8,075 |  |  |  | 590 |  |  |  | 20,248 |
60-89 Days Past Due |  |  | 1,414 |  |  |  | 2,160 |  |  |  | 2,299 |  |  |  | 832 |  |  |  | 1,080 |  |  |  | 6,697 |  |  |  | 400 |  |  |  | 14,882 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | 843 |  |  |  | 6,505 |  |  |  | 14,624 |  |  |  | 10,623 |  |  |  | 2,847 |  |  |  | 23,164 |  |  |  | 3,470 |  |  |  | 62,076 |
Total Past Due |  |  | 5,289 |  |  |  | 12,575 |  |  |  | 20,040 |  |  |  | 12,354 |  |  |  | 4,552 |  |  |  | 37,936 |  |  |  | 4,460 |  |  |  | 97,206 |
Total |  | $ | 1,111,161 |  |  | $ | 1,190,315 |  |  | $ | 1,382,355 |  |  | $ | 1,084,993 |  |  | $ | 442,865 |  |  | $ | 1,004,008 |  |  | $ | 691,125 |  |  | $ | 6,906,822 |
Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued)
|  | December 31, 2023 |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Revolving Loans |  |  | Total Loans |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 259,998 |  |  | $ | 474,878 |  |  | $ | 558,236 |  |  | $ | 279,098 |  |  | $ | 178,729 |  |  | $ | 501,620 |  |  | $ | 29,189 |  |  | $ | 2,281,748 |
30-59 Days Past Due |  |  | 359 |  |  |  | 648 |  |  |  | 638 |  |  |  | 74 |  |  |  | 3,176 |  |  |  | 484 |  |  |  | — |  |  |  | 5,379 |
60-89 Days Past Due |  |  | — |  |  |  | 826 |  |  |  | — |  |  |  | 286 |  |  |  | — |  |  |  | 1,208 |  |  |  | — |  |  |  | 2,320 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | 1,556 |  |  |  | 751 |  |  |  | 697 |  |  |  | 1,976 |  |  |  | 25,885 |  |  |  | — |  |  |  | 30,865 |
Total Past Due |  |  | 359 |  |  |  | 3,030 |  |  |  | 1,389 |  |  |  | 1,057 |  |  |  | 5,152 |  |  |  | 27,577 |  |  |  | — |  |  |  | 38,564 |
Total |  | $ | 260,357 |  |  | $ | 477,908 |  |  | $ | 559,625 |  |  | $ | 280,155 |  |  | $ | 183,881 |  |  | $ | 529,197 |  |  | $ | 29,189 |  |  | $ | 2,320,312 |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 55,178 |  |  | $ | 136,448 |  |  | $ | 102,973 |  |  | $ | 75,125 |  |  | $ | 45,050 |  |  | $ | 230,102 |  |  | $ | 59,476 |  |  | $ | 704,352 |
30-59 Days Past Due |  |  | — |  |  |  | 3,840 |  |  |  | 1,032 |  |  |  | 537 |  |  |  | 29 |  |  |  | 4,122 |  |  |  | 399 |  |  |  | 9,959 |
60-89 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 21 |  |  |  | 127 |  |  |  | — |  |  |  | 148 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | — |  |  |  | 107 |  |  |  | 189 |  |  |  | 349 |  |  |  | 3,474 |  |  |  | 952 |  |  |  | 5,071 |
Total Past Due |  |  | — |  |  |  | 3,840 |  |  |  | 1,139 |  |  |  | 726 |  |  |  | 399 |  |  |  | 7,723 |  |  |  | 1,351 |  |  |  | 15,178 |
Total |  | $ | 55,178 |  |  | $ | 140,288 |  |  | $ | 104,112 |  |  | $ | 75,851 |  |  | $ | 45,449 |  |  | $ | 237,825 |  |  | $ | 60,827 |  |  | $ | 719,530 |
Construction, Land Development, & Other Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 83,841 |  |  | $ | 156,815 |  |  | $ | 215,136 |  |  | $ | 54,182 |  |  | $ | 12,897 |  |  | $ | 1,443 |  |  | $ | 174 |  |  | $ | 524,488 |
30-59 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
60-89 Days Past Due |  |  | — |  |  |  | 2,349 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,349 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Past Due |  |  | — |  |  |  | 2,349 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,349 |
Total |  | $ | 83,841 |  |  | $ | 159,164 |  |  | $ | 215,136 |  |  | $ | 54,182 |  |  | $ | 12,897 |  |  | $ | 1,443 |  |  | $ | 174 |  |  | $ | 526,837 |
Commercial & Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 516,747 |  |  | $ | 552,251 |  |  | $ | 351,534 |  |  | $ | 114,859 |  |  | $ | 83,780 |  |  | $ | 177,239 |  |  | $ | 611,766 |  |  | $ | 2,408,176 |
30-59 Days Past Due |  |  | — |  |  |  | 1,545 |  |  |  | 1,099 |  |  |  | 238 |  |  |  | 2,513 |  |  |  | 400 |  |  |  | 455 |  |  |  | 6,250 |
60-89 Days Past Due |  |  | — |  |  |  | 1,505 |  |  |  | — |  |  |  | 234 |  |  |  | 3,416 |  |  |  | 1,139 |  |  |  | 496 |  |  |  | 6,790 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | 6,177 |  |  |  | 2,828 |  |  |  | 4,546 |  |  |  | 1,529 |  |  |  | 11,594 |  |  |  | 671 |  |  |  | 27,345 |
Total Past Due |  |  | — |  |  |  | 9,227 |  |  |  | 3,927 |  |  |  | 5,018 |  |  |  | 7,458 |  |  |  | 13,133 |  |  |  | 1,622 |  |  |  | 40,385 |
Total |  | $ | 516,747 |  |  | $ | 561,478 |  |  | $ | 355,461 |  |  | $ | 119,877 |  |  | $ | 91,238 |  |  | $ | 190,372 |  |  | $ | 613,388 |  |  | $ | 2,448,561 |
Installment and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 564 |  |  | $ | 132 |  |  | $ | 104 |  |  | $ | 133 |  |  | $ | 28 |  |  | $ | 425 |  |  | $ | 1,814 |  |  | $ | 3,200 |
30-59 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
60-89 Days Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Past Due |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 564 |  |  | $ | 132 |  |  | $ | 104 |  |  | $ | 133 |  |  | $ | 28 |  |  | $ | 425 |  |  | $ | 1,814 |  |  | $ | 3,200 |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 325,833 |  |  | $ | 206,800 |  |  | $ | 93,795 |  |  | $ | 29,292 |  |  | $ | 5,537 |  |  | $ | 889 |  |  | $ | — |  |  | $ | 662,146 |
30-59 Days Past Due |  |  | 726 |  |  |  | 426 |  |  |  | 153 |  |  |  | 38 |  |  |  | 4 |  |  |  | 2 |  |  |  | — |  |  |  | 1,349 |
60-89 Days Past Due |  |  | 540 |  |  |  | 481 |  |  |  | 302 |  |  |  | 218 |  |  |  | 3 |  |  |  | 1 |  |  |  | — |  |  |  | 1,545 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | 259 |  |  |  | 138 |  |  |  | 384 |  |  |  | 45 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 826 |
Total Past Due |  |  | 1,525 |  |  |  | 1,045 |  |  |  | 839 |  |  |  | 301 |  |  |  | 7 |  |  |  | 3 |  |  |  | — |  |  |  | 3,720 |
Total |  | $ | 327,358 |  |  | $ | 207,845 |  |  | $ | 94,634 |  |  | $ | 29,593 |  |  | $ | 5,544 |  |  | $ | 892 |  |  | $ | — |  |  | $ | 665,866 |
Total Loans and Leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current |  | $ | 1,242,161 |  |  | $ | 1,527,324 |  |  | $ | 1,321,778 |  |  | $ | 552,689 |  |  | $ | 326,021 |  |  | $ | 911,718 |  |  | $ | 702,419 |  |  | $ | 6,584,110 |
30-59 Days Past Due |  |  | 1,085 |  |  |  | 6,459 |  |  |  | 2,922 |  |  |  | 887 |  |  |  | 5,722 |  |  |  | 5,008 |  |  |  | 854 |  |  |  | 22,937 |
60-89 Days Past Due |  |  | 540 |  |  |  | 5,161 |  |  |  | 302 |  |  |  | 738 |  |  |  | 3,440 |  |  |  | 2,475 |  |  |  | 496 |  |  |  | 13,152 |
Greater than 90 Accruing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-accrual |  |  | 259 |  |  |  | 7,871 |  |  |  | 4,070 |  |  |  | 5,477 |  |  |  | 3,854 |  |  |  | 40,953 |  |  |  | 1,623 |  |  |  | 64,107 |
Total Past Due |  |  | 1,884 |  |  |  | 19,491 |  |  |  | 7,294 |  |  |  | 7,102 |  |  |  | 13,016 |  |  |  | 48,436 |  |  |  | 2,973 |  |  |  | 100,196 |
Total |  | $ | 1,244,045 |  |  | $ | 1,546,815 |  |  | $ | 1,329,072 |  |  | $ | 559,791 |  |  | $ | 339,037 |  |  | $ | 960,154 |  |  | $ | 705,392 |  |  | $ | 6,684,306 |
Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) Total non-accrual loans without an allowance included $6.0 million of commercial real estate loans, $790,000 of residential real estate loans and $3.8 million of commercial and industrial loans as of December 31, 2024. The Company recognized $2.7 million of interest income on non-accrual loans and leases for the year ended December 31, 2024. Total non-accrual loans without an allowance included $1.6 million of commercial real estate loans, $3.6 million of residential real estate loans and $2.3 million of commercial and industrial loans as of December 31, 2023. The Company recognized $3.8 million of interest income on non-accrual loans and leases for the year ended December 31, 2023. The following tables summarize the balance and activity within the allowance for credit losses, the components of the allowance for credit losses in terms of loans and leases individually and collectively evaluated for expected credit losses, and corresponding loan and lease balances by type for the years ended December 31, 2024, 2023, and 2022.
2024 |  | Commercial Real Estate |  |  | Residential Real Estate |  |  | Construction, Land Development, and Other Land |  |  | Commercial and Industrial |  |  | Installment and Other |  |  | Lease Financing Receivables |  |  | Total |
Allowance for credit losses - loans and leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 33,237 |  |  | $ | 3,495 |  |  | $ | 2,906 |  |  | $ | 53,782 |  |  | $ | 36 |  |  | $ | 8,230 |  |  | $ | 101,686 |
Provision/(recapture) |  |  | (1,172 | ) |  |  | (587 | ) |  |  | (462 | ) |  |  | 28,849 |  |  |  | 10 |  |  |  | 1,648 |  |  |  | 28,286 |
Charge-offs |  |  | (5,682 | ) |  |  | — |  |  |  | — |  |  |  | (28,133 | ) |  |  | (1 | ) |  |  | (2,535 | ) |  |  | (36,351 | )
Recoveries |  |  | 1,490 |  |  |  | 12 |  |  |  | 1 |  |  |  | 2,091 |  |  |  | — |  |  |  | 773 |  |  |  | 4,367 |
Ending balance |  | $ | 27,873 |  |  | $ | 2,920 |  |  | $ | 2,445 |  |  | $ | 56,589 |  |  | $ | 45 |  |  | $ | 8,116 |  |  | $ | 97,988 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 6,853 |  |  | $ | 67 |  |  | $ | — |  |  | $ | 16,649 |  |  | $ | — |  |  | $ | — |  |  | $ | 23,569 |
Collectively evaluated for impairment |  |  | 21,020 |  |  |  | 2,853 |  |  |  | 2,445 |  |  |  | 39,940 |  |  |  | 45 |  |  |  | 8,116 |  |  |  | 74,419 |
Total allowance for credit losses - loans and leases |  | $ | 27,873 |  |  | $ | 2,920 |  |  | $ | 2,445 |  |  | $ | 56,589 |  |  | $ | 45 |  |  | $ | 8,116 |  |  | $ | 97,988 |
2024 |  | Commercial Real Estate |  |  | Residential Real Estate |  |  | Construction, Land Development, and Other Land |  |  | Commercial and Industrial |  |  | Installment and Other |  |  | Lease Financing Receivables |  |  | Total |
Loans and leases ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 36,421 |  |  | $ | 1,365 |  |  | $ | — |  |  | $ | 40,712 |  |  | $ | — |  |  | $ | — |  |  | $ | 78,498 |
Collectively evaluated for impairment |  |  | 2,317,996 |  |  |  | 724,737 |  |  |  | 489,269 |  |  |  | 2,576,421 |  |  |  | 3,966 |  |  |  | 715,935 |  |  |  | 6,828,324 |
Total loans and leases |  | $ | 2,354,417 |  |  | $ | 726,102 |  |  | $ | 489,269 |  |  | $ | 2,617,133 |  |  | $ | 3,966 |  |  | $ | 715,935 |  |  | $ | 6,906,822 |
Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued)
2023 |  | Commercial Real Estate |  |  | Residential Real Estate |  |  | Construction, Land Development, and Other Land |  |  | Commercial and Industrial |  |  | Installment and Other |  |  | Lease Financing Receivables |  |  | Total |
Allowance for credit losses - loans and leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 26,061 |  |  | $ | 3,140 |  |  | $ | 3,134 |  |  | $ | 41,889 |  |  | $ | 24 |  |  | $ | 7,676 |  |  | $ | 81,924 |
Adjustment for acquired PCD loans |  |  | 8,230 |  |  |  | 660 |  |  |  | 97 |  |  |  | 1,609 |  |  |  | — |  |  |  | — |  |  |  | 10,596 |
Provision/(recapture) |  |  | 7,237 |  |  |  | (402 | ) |  |  | (325 | ) |  |  | 23,402 |  |  |  | 11 |  |  |  | 2,297 |  |  |  | 32,220 |
Charge-offs |  |  | (9,729 | ) |  |  | (21 | ) |  |  | — |  |  |  | (15,411 | ) |  |  | (3 | ) |  |  | (2,437 | ) |  |  | (27,601 | )
Recoveries |  |  | 1,438 |  |  |  | 118 |  |  |  | — |  |  |  | 2,293 |  |  |  | 4 |  |  |  | 694 |  |  |  | 4,547 |
Ending balance |  | $ | 33,237 |  |  | $ | 3,495 |  |  | $ | 2,906 |  |  | $ | 53,782 |  |  | $ | 36 |  |  | $ | 8,230 |  |  | $ | 101,686 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 12,361 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,880 |  |  | $ | — |  |  | $ | — |  |  | $ | 27,241 |
Collectively evaluated for impairment |  |  | 20,876 |  |  |  | 3,495 |  |  |  | 2,906 |  |  |  | 38,902 |  |  |  | 36 |  |  |  | 8,230 |  |  |  | 74,445 |
Total allowance for credit losses - loans and leases |  | $ | 33,237 |  |  | $ | 3,495 |  |  | $ | 2,906 |  |  | $ | 53,782 |  |  | $ | 36 |  |  | $ | 8,230 |  |  | $ | 101,686 |
2023 |  | Commercial Real Estate |  |  | Residential Real Estate |  |  | Construction, Land Development, and Other Land |  |  | Commercial and Industrial |  |  | Installment and Other |  |  | Lease Financing Receivables |  |  | Total |
Loans and leases ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 64,339 |  |  | $ | 3,593 |  |  | $ | 813 |  |  | $ | 44,749 |  |  | $ | — |  |  | $ | — |  |  | $ | 113,494 |
Collectively evaluated for impairment |  |  | 2,255,973 |  |  |  | 715,937 |  |  |  | 526,024 |  |  |  | 2,403,812 |  |  |  | 3,200 |  |  |  | 665,866 |  |  |  | 6,570,812 |
Total loans and leases |  | $ | 2,320,312 |  |  | $ | 719,530 |  |  | $ | 526,837 |  |  | $ | 2,448,561 |  |  | $ | 3,200 |  |  | $ | 665,866 |  |  | $ | 6,684,306 |
2022 |  | Commercial Real Estate |  |  | Residential Real Estate |  |  | Construction, Land Development, and Other Land |  |  | Commercial and Industrial |  |  | Installment and Other |  |  | Lease Financing Receivables |  |  | Total |
Allowance for credit losses - loans and leases |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance pre-CECL adoption |  | $ | 16,918 |  |  | $ | 1,628 |  |  | $ | 522 |  |  | $ | 33,129 |  |  | $ | 9 |  |  | $ | 2,806 |  |  | $ | 55,012 |
Impact of CECL adoption |  |  | 6,367 |  |  |  | 1,047 |  |  |  | 1,191 |  |  |  | 1,253 |  |  |  | 9 |  |  |  | 2,301 |  |  | $ | 12,168 |
Provision/(recapture) |  |  | 5,252 |  |  |  | 907 |  |  |  | 1,476 |  |  |  | 12,002 |  |  |  | (9 | ) |  |  | 3,046 |  |  |  | 22,674 |
Charge-offs |  |  | (3,837 | ) |  |  | (1,208 | ) |  |  | (94 | ) |  |  | (5,377 | ) |  |  | (7 | ) |  |  | (1,472 | ) |  |  | (11,995 | )
Recoveries |  |  | 1,361 |  |  |  | 766 |  |  |  | 39 |  |  |  | 882 |  |  |  | 22 |  |  |  | 995 |  |  |  | 4,065 |
Ending balance |  | $ | 26,061 |  |  | $ | 3,140 |  |  | $ | 3,134 |  |  | $ | 41,889 |  |  | $ | 24 |  |  | $ | 7,676 |  |  | $ | 81,924 |
Ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 6,101 |  |  | $ | — |  |  | $ | 265 |  |  | $ | 8,972 |  |  | $ | — |  |  | $ | — |  |  | $ | 15,338 |
Collectively evaluated for impairment |  |  | 19,960 |  |  |  | 3,140 |  |  |  | 2,869 |  |  |  | 32,917 |  |  |  | 24 |  |  |  | 7,676 |  |  |  | 66,586 |
Total allowance for credit losses - loans and leases |  | $ | 26,061 |  |  | $ | 3,140 |  |  | $ | 3,134 |  |  | $ | 41,889 |  |  | $ | 24 |  |  | $ | 7,676 |  |  | $ | 81,924 |
2022 |  | Commercial Real Estate |  |  | Residential Real Estate |  |  | Construction, Land Development, and Other Land |  |  | Commercial and Industrial |  |  | Installment and Other |  |  | Lease Financing Receivables |  |  | Total |
Loans and leases ending balance: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 37,959 |  |  | $ | 879 |  |  | $ | 5,541 |  |  | $ | 47,846 |  |  | $ | — |  |  | $ | — |  |  | $ | 92,225 |
Collectively evaluated for impairment |  |  | 1,871,529 |  |  |  | 489,083 |  |  |  | 433,448 |  |  |  | 2,009,228 |  |  |  | 1,759 |  |  |  | 523,986 |  |  |  | 5,329,033 |
Total loans and leases |  | $ | 1,909,488 |  |  | $ | 489,962 |  |  | $ | 438,989 |  |  | $ | 2,057,074 |  |  | $ | 1,759 |  |  | $ | 523,986 |  |  | $ | 5,421,258 |
The Company decreased the allowance for credit losses - loans and leases by $3.7 million for the year ended December 31, 2024. The decrease in allowance for credit losses reflects decreased allowance for credit losses on individually evaluated loans. Commercial and industrial loans increased $168.6 million for the year, which resulted in a $2.8 million in crease in ACL. The commercial real estate portfolio grew $34.1 m illion from prior year. The related ACL for the commercial real estate portfolio decreased primarily due to charge-offs of loans previously reserved for and improvement in classified loans. Additionally, the allocation of ACL to the individually evaluated portfolio decreased $3.7 mi llion during the year due to charge-offs and resolutions of these loans. For the year ended December 31, 2024, the ACL on PCD loans decreased $5.8 million, primarily related to resolutions of PCD loans. Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) The Company increased the allowance for credit losses - loans and leases by $19.8 million for the year ended December 31, 2023, which included a $10.6 million adjustment for acquired purchased credit deteriorated loans. The remaining increase in allowance for credit losses reflects increased provisions related to loan and lease portfolio growth and increases in individually evaluated loans. Portfolio growth, summarized by loan category in the previous tables, indicates growth in commercial and industrial loans o f $391.5 million for the year and a related $11.9 million increase in ACL. The commercial real estate portfolio grew $410.8 m illion from prior year, resulting in an increase of $7.2 million to ACL. Additionally, the allocation of ACL to the individually evaluated portfolio increased $11.9 mi llion during the year due to migration of classified loans from the collectively evaluated portfolio. For the year ended December 31, 2023, the ACL on PCD loans increased $8.1 million, primarily related to the adjustment for acquired PCD loans as part of the Inland acquisition, net of $1.2 million in charge-offs and $1.2 million in provision recapture. The Company increased the allowance for credit losses - loans and leases by $26.9 million for the year ended December 31, 2022, which included a $12.2 million cumulative effective adjustment as of January 1, 2022 for the impact of adopting CECL. The remaining increase in current expected credit losses reflects increased provisions related to loan and lease portfolio growth, qualitative adjustments, and increases in individually evaluated loans. Portfolio growth, summarized by loan category in the previous tables, indicates growth in commercial and industrial loans of $474.4 million for the year and a related $7.5 million increase in ACL (excluding the CECL adoption adjustment). The commercial real estate portfolio grew $243.7 million from prior year resulting in an increase of $2.8 million to ACL. An increase in qualitative adjustments was allocated to address economic uncertainty and to address the negative credit impact of increased interest rates based on portfolio classification. Additionally, the allocation of ACL to the individually evaluated portfolio increased $6.9 million during the year due to migration of classified loans from the collectively evaluated portfolio. For the year ended December 31, 2022, the provision for credit losses on PCD loans decreased $1.6 million, primarily related to a $47.0 million decrease in loans outstanding and $341,000 of net recoveries on PCD loans. The following table presents loans to borrowers experiencing financial difficulty and with modified terms for the year ended December 31, 2024:
December 31, 2024 |  | Term Modification |  |  | % of Class of Loans and Leases |
Modified loans |  |  |  |  |  |
Commercial real estate |  | $ | 9,405 |  |  |  | 0.4 | %
Construction, land development, and other land |  |  | 2,566 |  |  |  | 0.5 | %
Commercial and industrial |  |  | 4,568 |  |  |  | 0.2 | %
Total modified loans |  | $ | 16,539 |  |  |  | 0.2 | %
For the year ended December 31, 2024, the financial effect of the term modifications presented above reflects a five months weighted average extension of maturity date. The following table presents the amortized cost basis of loans that were both experiencing financial difficulty and with modified terms for the year ended December 31, 2023:
December 31, 2023 |  | Payment Delay |  |  | Term Modification |  |  | Combination Term Modification and Interest Rate Reduction |  |  | Total Modified by Class |  |  | % of Class of Loans and Leases |
Modified loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | — |  |  | $ | 10,815 |  |  | $ | — |  |  | $ | 10,815 |  |  |  | 0.5 | %
Commercial and industrial |  |  | 43 |  |  |  | 62,289 |  |  |  | 364 |  |  |  | 62,696 |  |  |  | 2.6 | %
Total modified loans |  | $ | 43 |  |  | $ | 73,104 |  |  | $ | 364 |  |  | $ | 73,511 |  |  |  | 1.1 | %
Loans reflected as having a payment delay included a general adjustment in loan terms similar to those of pass-rated credits. The weighted average term extension (in months) for loans modified during the year ended December 31, 2023 was 18 months. Loans having term modifications included extension of term as a result of a new borrower structure and other miscellaneous term adjustments. Loans having a combination of term modification and interest rate reduction reflect a longer amortization period and a reduction in the weighted average contractual rate of 2.69%. As of December 31, 2024, the amortized cost of commercial real estate loans that had a payment default and were modified in the twelve months prior to default was $2.8 million, which represented 0.11% of o utstanding commercial real estate loans. Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) As of December 31, 2023, the amortized cost of commercial and industrial loans that had a payment default and were modified in the twelve months prior to default was $406,000, which represented 0.02% of outstanding commercial and industrial loans. Modified loans are either collectively assessed based on portfolio risk segment and risk rating or individually assessed for loans exceeding $500,000. Upon the Company’s determination that a modified loan has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. Prior to 2023, t rouble debt restructurings were granted due to borrower financial difficulty and provide for a modification of loan repayment terms. TDRs are treated in the same manner as impaired loans for purposes of calculating the allowance for credit losses - loans and leases. The tables below present TDRs by loan category as of December 31, 2022. Refer to Note 1—Summary of Significant Accounting Policies for the accounting policy for TDRs.
2022 |  | Number of Loans |  |  | Pre-Modification Outstanding Recorded Investment |  |  | Post-Modification Outstanding Recorded Investment |  |  | Charge-offs |  |  | Individually Evaluated |
Accruing: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 2 |  |  | $ | 551 |  |  | $ | 551 |  |  | $ | — |  |  | $ | 109 |
Commercial and industrial |  |  | 1 |  |  |  | 24 |  |  |  | 24 |  |  |  | — |  |  |  | 34 |
Residential real estate |  |  | 2 |  |  |  | 144 |  |  |  | 144 |  |  |  | — |  |  |  | — |
Total accruing |  |  | 5 |  |  |  | 719 |  |  |  | 719 |  |  |  | — |  |  |  | 143 |
Non-accruing: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate |  |  | 3 |  |  |  | 830 |  |  |  | 623 |  |  |  | 207 |  |  |  | 73 |
Commercial and industrial |  |  | 6 |  |  |  | 2,017 |  |  |  | 982 |  |  |  | 1,035 |  |  |  | 38 |
Total non-accruing |  |  | 9 |  |  |  | 2,847 |  |  |  | 1,605 |  |  |  | 1,242 |  |  |  | 111 |
Total troubled debt restructurings |  |  | 14 |  |  | $ | 3,566 |  |  | $ | 2,324 |  |  | $ | 1,242 |  |  | $ | 254 |
There were $2.1 million and $9.1 million of loan commitments outstanding on modified loans at December 31, 2024 or 2023. There were no commitments on outstanding on troubled debt restructurings as of December 31, 2022. Loans modified as troubled debt restructurings that occurred during the year ended December 31, 2022:
|  | For the Year Ended December 31,
|  | 2022 |  |
Accruing: |  |  |  |
Beginning balance |  | $ | 1,927 |  |
Additions |  |  | — |  |
Net payments |  |  | (1,208 | ) |
Net transfers (to) from non-accrual |  |  | — |  |
Ending balance |  |  | 719 |  |
Non-accruing: |  |  |  |
Beginning balance |  |  | 1,506 |  |
Additions |  |  | 756 |  |
Net payments |  |  | (536 | ) |
Charge-offs |  |  | (121 | ) |
Net transfers (to) from accrual |  |  | — |  |
Ending balance |  |  | 1,605 |  |
Total troubled debt restructurings |  | $ | 2,324 |  |
There were no troubled debt restructurings that subsequently defaulted within 12 months of the restructure date during the year ended December 31, 2022. Note 5—Loans and Lease Receivables and Allowance for Credit Losses (continued) The following table presents the amortized cost basis of collateral-dependent loans and leases, which are individually evaluated to determine expected credit losses as of December 31, 2024 and 2023:
2024 |  | Commercial Construction |  |  | Non-owner Occupied Commercial |  |  | Owner-Occupied Commercial |  |  | Multi-Family |  |  | Single Family Residence (1st Lien) |  |  | Single Family Residence (2nd Lien) |  |  | Business Assets |  |  | Total |
Commercial real estate |  | $ | — |  |  | $ | 6,723 |  |  | $ | 29,697 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 36,420 |
Residential real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 790 |  |  |  | 575 |  |  |  | — |  |  |  | 1,365 |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,512 |  |  |  | 30,512 |
Total |  | $ | — |  |  | $ | 6,723 |  |  | $ | 29,697 |  |  | $ | — |  |  | $ | 790 |  |  | $ | 575 |  |  | $ | 30,512 |  |  | $ | 68,297 |
2023 |  | Commercial Construction |  |  | Non-owner Occupied Commercial |  |  | Owner-Occupied Commercial |  |  | Multi-Family |  |  | Single Family Residence (1st Lien) |  |  | Single Family Residence (2nd Lien) |  |  | Business Assets |  |  | Total |
Commercial real estate |  | $ | — |  |  | $ | 28,767 |  |  | $ | 35,572 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 64,339 |
Residential real estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,793 |  |  |  | 800 |  |  |  | — |  |  |  | — |  |  |  | 3,593 |
Construction, land development, and other land |  |  | 813 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 813 |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 44,749 |  |  |  | 44,749 |
Total |  | $ | 813 |  |  | $ | 28,767 |  |  | $ | 35,572 |  |  | $ | 2,793 |  |  | $ | 800 |  |  | $ | — |  |  | $ | 44,749 |  |  | $ | 113,494 |
The following table presents the change in balance for allowance for credit losses - unfunded commitments, which are included in the Consolidated Statements of Financial Condition as part of accrued expenses and other liabilities, as of December 31, 2024, 2023 and 2022:
|  | For the Year Ended December 31, |
|  | 2024 |  |  | 2023 |  |  | 2022 |
Beginning balance |  | $ | 3,636 |  |  | $ | 4,203 |  |  | $ | 1,403 |
Impact of CECL adoption |  |  | — |  |  |  | — |  |  |  | 1,595 |
Provision/(recapture) for/of unfunded commitments |  |  | (1,245 | ) |  |  | (567 | ) |  |  | 1,205 |
Ending balance |  | $ | 2,391 |  |  | $ | 3,636 |  |  | $ | 4,203 |

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