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Loans and Leases | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Loans and Leases | Loans and Leases Loans and leases at September 30, 2024 and December 31, 2023 were as follows:
(In thousands) | 9/30/2024 | 12/31/2023
Commercial and industrial |  |
Agriculture | $ | 90,146 |  | $ | 101,211 |
Commercial and industrial other | 799,847 |  | 721,890 |
PPP loans | 214 |  | 404 |
Subtotal commercial and industrial | 890,207 |  | 823,505 |
Commercial real estate |  |
Construction | 371,022 |  | 303,406 |
Agriculture | 209,342 |  | 221,670 |
Commercial real estate other | 2,730,074 |  | 2,587,591 |
Subtotal commercial real estate | 3,310,438 |  | 3,112,667 |
Residential real estate |  |
Home equity | 200,369 |  | 188,316 |
Mortgages | 1,371,738 |  | 1,373,275 |
Subtotal residential real estate | 1,572,107 |  | 1,561,591 |
Consumer and other |  |
Indirect | 337 |  | 841 |
Consumer and other | 100,312 |  | 96,942 |
Subtotal consumer and other | 100,649 |  | 97,783 |
Leases | 13,094 |  | 15,383 |
Total loans and leases | 5,886,495 |  | 5,610,929 |
Less: unearned income and deferred costs and fees | (5,234) |  | (4,994) |
Total loans and leases, net of unearned income and deferred costs and fees | $ | 5,881,261 |  | $ | 5,605,935 |
The Company has adopted comprehensive lending policies, underwriting standards and loan review procedures. Management reviews these policies and procedures on a regular basis. The Company discussed its lending policies and underwriting guidelines for its various lending portfolios in Note 3 – "Loans and Leases" in the Notes to Consolidated Financial Statements contained in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. There have been no significant changes in these policies and guidelines since the date of that report. As such, these policies are reflective of new originations as well as those balances held at December 31, 2023. The Company’s Board of Directors approves the lending policies at least annually. The Company recognizes that exceptions to policy guidelines may occasionally occur and has established procedures for approving exceptions to these policy guidelines. Management has also implemented reporting systems to monitor loan origination, loan quality, concentrations of credit, loan delinquencies and nonperforming loans and potential problem loans. Loans are considered past due if the required principal and interest payments have not been received as of the date such payments are due. Generally loans are placed on nonaccrual status if principal or interest payments become 90 days or more past due and/or management deems the collectability of the principal and/or interest to be in question as well as when required by regulatory agencies. When interest accrual is discontinued, all unpaid accrued interest is reversed. Payments received on loans on nonaccrual are generally applied to reduce the principal balance of the loan. Loans are generally returned to accrual status when all the principal and interest amounts due are brought current, the borrower has established a payment history, and future payments are reasonably assured. When management determines that the collection of principal in full is not probable, management will charge-off a partial amount or full amount of the loan balance. Management considers specific facts and circumstances relative to each individual credit in making such a determination. For residential and consumer loans, management uses specific regulatory guidance and thresholds for determining charge-offs. The below tables are an age analysis of past due loans, segregated by class of loans, as of September 30, 2024 and December 31, 2023:
September 30, 2024 |
(In thousands) | 30-59 Days | 60-89 Days | 90 Days or More | Total Past Due | Current Loans | Total Loans
Loans and Leases |  |  |  |  |  |
Commercial and industrial |  |  |  |  |  |
Agriculture | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 90,146 |  | $ | 90,146
Commercial and industrial other | 826 |  | 1,059 |  | 2,083 |  | 3,968 |  | 795,879 |  | 799,847 |
PPP loans | 0 |  | 0 |  | 0 |  | 0 |  | 214 |  | 214 |
Subtotal commercial and industrial | 826 |  | 1,059 |  | 2,083 |  | 3,968 |  | 886,239 |  | 890,207 |
Commercial real estate |  |  |  |  |  |
Construction | 0 |  | 0 |  | 0 |  | 0 |  | 371,022 |  | 371,022
Agriculture | 84 |  | 147 |  | 0 |  | 231 |  | 209,111 |  | 209,342
Commercial real estate other | 166 |  | 2,510 |  | 23,301 |  | 25,977 |  | 2,704,097 |  | 2,730,074
Subtotal commercial real estate | 250 |  | 2,657 |  | 23,301 |  | 26,208 |  | 3,284,230 |  | 3,310,438 |
Residential real estate |  |  |  |  |  |
Home equity | 465 |  | 0 |  | 1,832 |  | 2,297 |  | 198,072 |  | 200,369
Mortgages | 20 |  | 853 |  | 9,586 |  | 10,459 |  | 1,361,279 |  | 1,371,738
Subtotal residential real estate | 485 |  | 853 |  | 11,418 |  | 12,756 |  | 1,559,351 |  | 1,572,107 |
Consumer and other |  |  |  |  |  |
Indirect | 7 |  | 22 |  | 5 |  | 34 |  | 303 |  | 337
Consumer and other | 640 |  | 232 |  | 235 |  | 1,107 |  | 99,205 |  | 100,312
Subtotal consumer and other | 647 |  | 254 |  | 240 |  | 1,141 |  | 99,508 |  | 100,649 |
Leases | 0 |  | 0 |  | 0 |  | 0 |  | 13,094 |  | 13,094 |
Total loans and leases | 2,208 |  | 4,823 |  | 37,042 |  | 44,073 |  | 5,842,422 |  | 5,886,495 |
Less: unearned income and deferred costs and fees | 0 |  | 0 |  | 0 |  | 0 |  | (5,234) |  | (5,234) |
Total loans and leases, net of unearned income and deferred costs and fees | $ | 2,208 |  | $ | 4,823 |  | $ | 37,042 |  | $ | 44,073 |  | $ | 5,837,188 |  | $ | 5,881,261 |
December 31, 2023
(In thousands) | 30-59 Days | 60-89 Days | 90 Days or More | Total Past Due | Current Loans | Total Loans
Loans and Leases |  |  |  |  |  |
Commercial and industrial |  |  |  |  |  |
Agriculture | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 0 |  | $ | 101,211 |  | $ | 101,211 |
Commercial and industrial other | 389 |  | 887 |  | 2,124 |  | 3,400 |  | 718,490 |  | 721,890 |
PPP loans | 0 |  | 0 |  | 0 |  | 0 |  | 404 |  | 404 |
Subtotal commercial and industrial | 389 |  | 887 |  | 2,124 |  | 3,400 |  | 820,105 |  | 823,505 |
Commercial real estate |  |  |  |  |  |
Construction | 0 |  | 0 |  | 0 |  | 0 |  | 303,406 |  | 303,406 |
Agriculture | 61 |  | 0 |  | 0 |  | 61 |  | 221,609 |  | 221,670 |
Commercial real estate other | 290 |  | 0 |  | 25,056 |  | 25,346 |  | 2,562,245 |  | 2,587,591 |
Subtotal commercial real estate | 351 |  | 0 |  | 25,056 |  | 25,407 |  | 3,087,260 |  | 3,112,667 |
Residential real estate |  |  |  |  |  |
Home equity | 466 |  | 211 |  | 1,968 |  | 2,645 |  | 185,671 |  | 188,316 |
Mortgages | 1,353 |  | 111 |  | 6,916 |  | 8,380 |  | 1,364,895 |  | 1,373,275 |
Subtotal residential real estate | 1,819 |  | 322 |  | 8,884 |  | 11,025 |  | 1,550,566 |  | 1,561,591 |
Consumer and other |  |  |  |  |  |
Indirect | 7 |  | 11 |  | 11 |  | 29 |  | 812 |  | 841 |
Consumer and other | 302 |  | 122 |  | 270 |  | 694 |  | 96,248 |  | 96,942 |
Subtotal consumer and other | 309 |  | 133 |  | 281 |  | 723 |  | 97,060 |  | 97,783 |
Leases | 0 |  | 0 |  | 0 |  | 0 |  | 15,383 |  | 15,383 |
Total loans and leases | 2,868 |  | 1,342 |  | 36,345 |  | 40,555 |  | 5,570,374 |  | 5,610,929 |
Less: unearned income and deferred costs and fees | 0 |  | 0 |  | 0 |  | 0 |  | (4,994) |  | (4,994) |
Total loans and leases, net of unearned income and deferred costs and fees | $ | 2,868 |  | $ | 1,342 |  | $ | 36,345 |  | $ | 40,555 |  | $ | 5,565,380 |  | $ | 5,605,935 |
The following tables present the amortized cost basis of loans on nonaccrual status and the amortized cost basis of loans on nonaccrual status for which there was no related allowance for credit losses. The below tables are an age analysis of nonaccrual loans segregated by class of loans, as of September 30, 2024 and December 31, 2023:
September 30, 2024
(In thousands) | Nonaccrual Loans and Leases with no ACL | Nonaccrual Loans and Leases | Loans and Leases Past Due Over 89 Days and Accruing
Loans and Leases |  |  |
Commercial and industrial |  |  |
Commercial and industrial other | $ | 0 |  | $ | 2,223 |  | $ | 0 |
Subtotal commercial and industrial | 0 |  | 2,223 |  | 0 |
Commercial real estate |  |  |
Agriculture | 0 |  | 132 |  | 0 |
Commercial real estate other | 40,373 |  | 43,861 |  | 0 |
Subtotal commercial real estate | 40,373 |  | 43,993 |  | 0 |
Residential real estate |  |  |
Home equity | 0 |  | 2,992 |  | 0 |
Mortgages | 0 |  | 13,021 |  | 5 |
Subtotal residential real estate | 0 |  | 16,013 |  | 5 |
Consumer and other |  |  |
Indirect | 0 |  | 16 |  | 0 |
Consumer and other | 0 |  | 136 |  | 188 |
Subtotal consumer and other | 0 |  | 152 |  | 188 |
Total loans and leases | $ | 40,373 |  | $ | 62,381 |  | $ | 193 |
December 31, 2023 |  |  |
(In thousands) | Nonaccrual Loans and Leases with no ACL | Nonaccrual Loans and Leases | Loans and Leases Past Due Over 89 Days and Accruing
Loans and Leases |  |  |
Commercial and industrial |  |  |
Commercial and industrial other | $ | 0 |  | $ | 2,253 |  | $ | 0 |
Subtotal commercial and industrial | 0 |  | 2,273 |  | 0 |
Commercial real estate |  |  |
Agriculture | 0 |  | 170 |  | 0 |
Commercial real estate other | 42,038 |  | 44,280 |  | 0 |
Subtotal commercial real estate | 42,038 |  | 44,450 |  | 0 |
Residential real estate |  |  |
Home equity | 0 |  | 3,230 |  | 0 |
Mortgages | 0 |  | 11,942 |  | 0 |
Subtotal residential real estate | 0 |  | 15,172 |  | 0 |
Consumer and other |  |  |
Indirect | 0 |  | 40 |  | 0 |
Consumer and other | 0 |  | 230 |  | 101 |
Subtotal consumer and other | 0 |  | 270 |  | 101 |
Total loans and leases | $ | 42,038 |  | $ | 62,165 |  | $ | 101 |
The Company did not recognize any interest income on nonaccrual loans during the three and nine months ended September 30, 2024 and 2023.

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- Definition The entire disclosure for claims held for amounts due a company, excluding disclosure for allowance for credit losses. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Also excludes disclosure for financing receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent + Details
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