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Loans Receivable, Net | 9 Months Ended
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Sep. 30, 2025
Receivables [Abstract] |
Loans Receivable, Net | Loans Receivable, Net Loans receivable, net at September 30, 2025 and December 31, 2024 consisted of the following (in thousands):
| September 30, |  | December 31,
| 2025 |  | 2024
Commercial: |  |  |
Commercial real estate – investor | $ | 5,211,220 |  |  | $ | 5,287,683 |
Commercial and industrial: |  |  |
Commercial and industrial – real estate | 997,122 |  |  | 902,219 |
Commercial and industrial – non-real estate | 998,860 |  |  | 647,945 |
Total commercial and industrial | 1,995,982 |  |  | 1,550,164 |
Total commercial | 7,207,202 |  |  | 6,837,847 |
Consumer: |  |  |
Residential real estate | 3,135,200 |  |  | 3,049,763 |
Home equity loans and lines and other consumer (“other consumer”) | 215,581 |  |  | 230,462 |
Total consumer | 3,350,781 |  |  | 3,280,225 |
Total loans receivable | 10,557,983 |  |  | 10,118,072 |
Deferred origination costs, net of fees | 13,105 |  |  | 10,964 |
Allowance for loan credit losses | (81,236) |  |  | (73,607) |
Total loans receivable, net | $ | 10,489,852 |  |  | $ | 10,055,429 |
The Company categorizes all loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company evaluates risk ratings on an ongoing basis. The Company uses the following definitions for risk ratings: Pass: Loans classified as Pass are well protected by the paying capacity and net worth of the borrower. Special Mention: Loans classified as Special Mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Substandard: Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. These loans have a well-defined weakness or weaknesses that jeopardize the collection or the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as Doubtful have all the weaknesses inherent in those classified as 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. The following tables summarize total loans by year of origination, internally assigned credit grades and risk characteristics (in thousands):
|  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 and prior |  | Revolving lines of credit |  |  |  | Total
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate - investor |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 327,577 |  |  | $ | 65,391 |  |  | $ | 167,114 |  |  | $ | 1,161,036 |  |  | $ | 1,259,394 |  |  | $ | 1,511,048 |  |  | $ | 632,889 |  |  |  |  | $ | 5,124,449 |
Special Mention |  | 167 |  |  | — |  |  | — |  |  | 2,945 |  |  | — |  |  | 8,769 |  |  | 2,536 |  |  |  |  | 14,417 |
Substandard |  | — |  |  | 85 |  |  | — |  |  | 20,916 |  |  | 298 |  |  | 42,108 |  |  | 8,947 |  |  |  |  | 72,354 |
Total commercial real estate - investor |  | 327,744 |  |  | 65,476 |  |  | 167,114 |  |  | 1,184,897 |  |  | 1,259,692 |  |  | 1,561,925 |  |  | 644,372 |  |  |  |  | 5,211,220 |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial - real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 164,415 |  |  | 77,001 |  |  | 59,831 |  |  | 130,265 |  |  | 81,689 |  |  | 424,945 |  |  | 46,448 |  |  |  |  | 984,594 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 753 |  |  | — |  |  |  |  | 753 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11,766 |  |  | 9 |  |  |  |  | 11,775 |
Total commercial and industrial - real estate |  | 164,415 |  |  | 77,001 |  |  | 59,831 |  |  | 130,265 |  |  | 81,689 |  |  | 437,464 |  |  | 46,457 |  |  |  |  | 997,122 |
Commercial and industrial - non-real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 217,889 |  |  | 191,599 |  |  | 43,435 |  |  | 31,625 |  |  | 9,110 |  |  | 53,456 |  |  | 436,298 |  |  |  |  | 983,412 |
Special Mention |  | 43 |  |  | 85 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 128 |
Substandard |  | — |  |  | 245 |  |  | 573 |  |  | 838 |  |  | 676 |  |  | 1,765 |  |  | 11,223 |  |  |  |  | 15,320 |
Total commercial and industrial - non-real estate |  | 217,932 |  |  | 191,929 |  |  | 44,008 |  |  | 32,463 |  |  | 9,786 |  |  | 55,221 |  |  | 447,521 |  |  |  |  | 998,860 |
Total commercial and industrial |  | 382,347 |  |  | 268,930 |  |  | 103,839 |  |  | 162,728 |  |  | 91,475 |  |  | 492,685 |  |  | 493,978 |  |  |  |  | 1,995,982 |
Residential real estate (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 308,198 |  |  | 255,431 |  |  | 226,780 |  |  | 516,548 |  |  | 759,508 |  |  | 1,061,702 |  |  | — |  |  |  |  | 3,128,167 |
Special Mention |  | 511 |  |  | 204 |  |  | — |  |  | — |  |  | 870 |  |  | 1,536 |  |  | — |  |  |  |  | 3,121 |
Substandard |  | — |  |  | 1,032 |  |  | 1,278 |  |  | 341 |  |  | 445 |  |  | 816 |  |  | — |  |  |  |  | 3,912 |
Total residential real estate |  | 308,709 |  |  | 256,667 |  |  | 228,058 |  |  | 516,889 |  |  | 760,823 |  |  | 1,064,054 |  |  | — |  |  |  |  | 3,135,200 |
Other consumer (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 20,398 |  |  | 24,914 |  |  | 23,795 |  |  | 15,075 |  |  | 15,416 |  |  | 99,413 |  |  | 14,605 |  |  |  |  | 213,616 |
Special Mention |  | — |  |  | 193 |  |  | — |  |  | 152 |  |  | — |  |  | 208 |  |  | — |  |  |  |  | 553 |
Substandard |  | — |  |  | — |  |  | 95 |  |  | 36 |  |  | — |  |  | 1,281 |  |  | — |  |  |  |  | 1,412 |
Total other consumer |  | 20,398 |  |  | 25,107 |  |  | 23,890 |  |  | 15,263 |  |  | 15,416 |  |  | 100,902 |  |  | 14,605 |  |  |  |  | 215,581 |
Total loans |  | $ | 1,039,198 |  |  | $ | 616,180 |  |  | $ | 522,901 |  |  | $ | 1,879,777 |  |  | $ | 2,127,406 |  |  | $ | 3,219,566 |  |  | $ | 1,152,955 |  |  |  |  | $ | 10,557,983 |
(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity.
|  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and prior |  | Revolving lines of credit |  | Total
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate - investor |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 75,225 |  |  | $ | 140,863 |  |  | $ | 1,142,790 |  |  | $ | 1,290,047 |  |  | $ | 510,906 |  |  | $ | 1,264,536 |  |  | $ | 750,607 |  |  | $ | 5,174,974 |
Special Mention |  | 15 |  |  | — |  |  | 21,285 |  |  | — |  |  | — |  |  | 18,225 |  |  | 4,477 |  |  | 44,002 |
Substandard |  | 95 |  |  | 8 |  |  | 3,784 |  |  | — |  |  | 6,111 |  |  | 44,636 |  |  | 14,073 |  |  | 68,707 |
Total commercial real estate - investor |  | 75,335 |  |  | 140,871 |  |  | 1,167,859 |  |  | 1,290,047 |  |  | 517,017 |  |  | 1,327,397 |  |  | 769,157 |  |  | 5,287,683 |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial - real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 82,104 |  |  | 62,799 |  |  | 140,578 |  |  | 90,720 |  |  | 40,746 |  |  | 442,685 |  |  | 31,776 |  |  | 891,408 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,918 |  |  | — |  |  | 2,918 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 256 |  |  | 7,503 |  |  | 134 |  |  | 7,893 |
Total commercial and industrial - real estate |  | 82,104 |  |  | 62,799 |  |  | 140,578 |  |  | 90,720 |  |  | 41,002 |  |  | 453,106 |  |  | 31,910 |  |  | 902,219 |
Commercial and industrial - non-real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 81,867 |  |  | 30,084 |  |  | 35,469 |  |  | 14,276 |  |  | 3,873 |  |  | 180,695 |  |  | 278,217 |  |  | 624,481 |
Special Mention |  | — |  |  | 4,735 |  |  | — |  |  | — |  |  | 235 |  |  | 16 |  |  | 96 |  |  | 5,082 |
Substandard |  | — |  |  | 4,326 |  |  | 1,019 |  |  | 749 |  |  | — |  |  | 256 |  |  | 12,032 |  |  | 18,382 |
Total commercial and industrial - non-real estate |  | 81,867 |  |  | 39,145 |  |  | 36,488 |  |  | 15,025 |  |  | 4,108 |  |  | 180,967 |  |  | 290,345 |  |  | 647,945 |
Total commercial and industrial |  | 163,971 |  |  | 101,944 |  |  | 177,066 |  |  | 105,745 |  |  | 45,110 |  |  | 634,073 |  |  | 322,255 |  |  | 1,550,164 |
Residential real estate (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 277,009 |  |  | 270,225 |  |  | 547,093 |  |  | 796,790 |  |  | 366,649 |  |  | 783,204 |  |  | — |  |  | 3,040,970 |
Special Mention |  | — |  |  | 92 |  |  | 224 |  |  | 449 |  |  | — |  |  | 1,476 |  |  | — |  |  | 2,241 |
Substandard |  | 215 |  |  | 415 |  |  | 1,583 |  |  | 445 |  |  | — |  |  | 3,894 |  |  | — |  |  | 6,552 |
Total residential real estate |  | 277,224 |  |  | 270,732 |  |  | 548,900 |  |  | 797,684 |  |  | 366,649 |  |  | 788,574 |  |  | — |  |  | 3,049,763 |
Other consumer (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 27,316 |  |  | 27,596 |  |  | 17,029 |  |  | 16,511 |  |  | 10,694 |  |  | 107,045 |  |  | 21,991 |  |  | 228,182 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 62 |  |  | — |  |  | 219 |  |  | — |  |  | 281 |
Substandard |  | — |  |  | 97 |  |  | 18 |  |  | 343 |  |  | — |  |  | 1,541 |  |  | — |  |  | 1,999 |
Total other consumer |  | 27,316 |  |  | 27,693 |  |  | 17,047 |  |  | 16,916 |  |  | 10,694 |  |  | 108,805 |  |  | 21,991 |  |  | 230,462 |
Total loans |  | $ | 543,846 |  |  | $ | 541,240 |  |  | $ | 1,910,872 |  |  | $ | 2,210,392 |  |  | $ | 939,470 |  |  | $ | 2,858,849 |  |  | $ | 1,113,403 |  |  | $ | 10,118,072 |
(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. An analysis of the allowance for credit losses on loans for the three and nine months ended September 30, 2025 and 2024 was as follows (in thousands):
|  |  |  | Commercial and Industrial |  |  |  |  |  |  |  |
|  | Commercial Real Estate – Investor |  | Commercial and Industrial - Real Estate |  | Commercial and Industrial - Non-Real Estate |  | Residential Real Estate |  | Other Consumer |  |  |  | Total
For the three months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 32,926 |  |  | $ | 3,934 |  |  | $ | 14,822 |  |  | $ | 26,570 |  |  | $ | 1,014 |  |  |  |  | $ | 79,266 |
(Benefit) provision for credit losses |  | (1,652) |  |  | 375 |  |  | 4,084 |  |  | (341) |  |  | 121 |  |  |  |  | 2,587 |
Charge-offs |  | (369) |  |  | — |  |  | (347) |  |  | (27) |  |  | (107) |  |  |  |  | (850) |
Recoveries |  | — |  |  | 3 |  |  | 191 |  |  | 3 |  |  | 36 |  |  |  |  | 233 |
Balance at end of period |  | $ | 30,905 |  |  | $ | 4,312 |  |  | $ | 18,750 |  |  | $ | 26,205 |  |  | $ | 1,064 |  |  |  |  | $ | 81,236 |
For the three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 27,853 |  |  | $ | 3,931 |  |  | $ | 7,915 |  |  | $ | 27,833 |  |  | $ | 1,307 |  |  |  |  | $ | 68,839 |
Provision (benefit) for credit losses |  | 3,074 |  |  | (220) |  |  | 1,767 |  |  | (4,564) |  |  | 82 |  |  |  |  | 139 |
Charge-offs |  | — |  |  | — |  |  | — |  |  | (35) |  |  | (89) |  |  |  |  | (124) |
Recoveries |  | 123 |  |  | 4 |  |  | 2 |  |  | 29 |  |  | 54 |  |  |  |  | 212 |
Balance at end of period |  | $ | 31,050 |  |  | $ | 3,715 |  |  | $ | 9,684 |  |  | $ | 23,263 |  |  | $ | 1,354 |  |  |  |  | $ | 69,066 |
For the nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 30,780 |  |  | $ | 3,817 |  |  | $ | 10,471 |  |  | $ | 27,587 |  |  | $ | 952 |  |  |  |  | $ | 73,607 |
Provision (benefit) for credit losses |  | 2,184 |  |  | 478 |  |  | 8,400 |  |  | (290) |  |  | 328 |  |  |  |  | 11,100 |
Charge-offs |  | (2,214) |  |  | — |  |  | (347) |  |  | (1,119) |  |  | (383) |  |  |  |  | (4,063) |
Recoveries |  | 155 |  |  | 17 |  |  | 226 |  |  | 27 |  |  | 167 |  |  |  |  | 592 |
Balance at end of period |  | $ | 30,905 |  |  | $ | 4,312 |  |  | $ | 18,750 |  |  | $ | 26,205 |  |  | $ | 1,064 |  |  |  |  | $ | 81,236 |
For the nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of period |  | $ | 27,899 |  |  | $ | 4,354 |  |  | $ | 6,867 |  |  | $ | 27,029 |  |  | $ | 988 |  |  |  |  | $ | 67,137 |
Provision (benefit) for credit losses |  | 4,671 |  |  | (668) |  |  | 2,808 |  |  | (3,913) |  |  | 744 |  |  |  |  | 3,642 |
Charge-offs |  | (1,646) |  |  | — |  |  | — |  |  | (35) |  |  | (484) |  |  |  |  | (2,165) |
Recoveries |  | 126 |  |  | 29 |  |  | 9 |  |  | 182 |  |  | 106 |  |  |  |  | 452 |
Balance at end of period |  | $ | 31,050 |  |  | $ | 3,715 |  |  | $ | 9,684 |  |  | $ | 23,263 |  |  | $ | 1,354 |  |  |  |  | $ | 69,066 |
The following tables summarize gross charge-offs by vintage (in thousands):
|  |  |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 and prior |  | Total
For the three months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  |  |  | $ | (72) |  |  | $ | (297) |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | (369) |
Commercial and industrial – non-real estate |  |  |  | (347) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (347) |
Residential real estate |  |  |  | (23) |  |  | (4) |  |  | — |  |  | — |  |  | — |  |  | (27) |
Other consumer |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (107) |  |  | (107) |
Total charge-offs |  |  |  | $ | (442) |  |  | $ | (301) |  |  | $ | — |  |  | $ | — |  |  | $ | (107) |  |  | $ | (850) |
For the nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  |  |  | $ | (250) |  |  | $ | (1,862) |  |  | $ | (30) |  |  | $ | (24) |  |  | $ | (48) |  |  | $ | (2,214) |
Commercial and industrial – non-real estate |  |  |  | (347) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (347) |
Residential real estate |  |  |  | (91) |  |  | (59) |  |  | (255) |  |  | (344) |  |  | (370) |  |  | (1,119) |
Other consumer |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (383) |  |  | (383) |
Total charge-offs |  |  |  | $ | (688) |  |  | $ | (1,921) |  |  | $ | (285) |  |  | $ | (368) |  |  | $ | (801) |  |  | $ | (4,063) |
|  |  |  | 2023 |  |  |  | 2021 |  |  |  | 2019 and prior |  | Total
For the three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  | $ | (33) |  |  |  |  | $ | — |  |  |  |  | $ | (2) |  |  | $ | (35) |
Other consumer |  |  |  | — |  |  |  |  | — |  |  |  |  | (89) |  |  | (89) |
Total charge-offs |  |  |  | $ | (33) |  |  |  |  | $ | — |  |  |  |  | $ | (91) |  |  | $ | (124) |
For the nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  |  |  | $ | — |  |  |  |  | $ | (46) |  |  |  |  | $ | (1,600) |  |  | $ | (1,646) |
Residential real estate |  |  |  | (33) |  |  |  |  | — |  |  |  |  | (2) |  |  | (35) |
Other consumer |  |  |  | — |  |  |  |  | — |  |  |  |  | (484) |  |  | (484) |
Total charge-offs |  |  |  | $ | (33) |  |  |  |  | $ | (46) |  |  |  |  | $ | (2,086) |  |  | $ | (2,165) |
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 and, therefore, is classified as non-accruing. At September 30, 2025 and December 31, 2024, the Company had collateral dependent loans with an amortized cost balance as follows: commercial real estate - investor of $18.6 million and $11.8 million, respectively, commercial and industrial - real estate of $7.2 million and $4.8 million, respectively, and commercial and industrial - non-real estate of $326,000 and $32,000, respectively. In addition, the Company had collateral dependent residential and consumer loans with an amortized cost balance of $5.3 million and $8.6 million at September 30, 2025 and December 31, 2024, respectively. The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of September 30, 2025 and December 31, 2024 (in thousands):
| September 30, |  | December 31,
| 2025 |  | 2024
Commercial real estate – investor | $ | 23,570 |  |  | $ | 17,000 |
Commercial and industrial: |  |  |
Commercial and industrial - real estate | 7,469 |  |  | 4,787 |
Commercial and industrial - non-real estate | 394 |  |  | 32 |
Total commercial and industrial | 7,863 |  |  | 4,819 |
Residential real estate (1) | 7,334 |  |  | 10,644 |
Other consumer (1) | 2,496 |  |  | 3,064 |
Total non-performing loans | $ | 41,263 |  |  | $ | 35,527 |
(1) The nine months ended September 30, 2025 included the sale of non-performing residential and consumer loans of $7.3 million. At September 30, 2025 and December 31, 2024, non-accrual loans were included in the allowance for credit loss calculation and the Company did not recognize or accrue interest income on these loans. At September 30, 2025 and December 31, 2024, there were no loans greater than 90 days past due that were accruing interest. The following table presents the aging of the recorded investment in past due loans as of September 30, 2025 and December 31, 2024 by loan portfolio segment (in thousands):
| 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or Greater Past Due |  | Total Past Due |  | Loans Not Past Due |  | Total
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor | $ | 4,126 |  |  | $ | 2,161 |  |  | $ | 18,513 |  |  | $ | 24,800 |  |  | $ | 5,186,420 |  |  | $ | 5,211,220 |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial - real estate | 925 |  |  | — |  |  | 3,935 |  |  | 4,860 |  |  | 992,262 |  |  | 997,122 |
Commercial and industrial - non-real estate | 5,273 |  |  | 89 |  |  | 326 |  |  | 5,688 |  |  | 993,172 |  |  | 998,860 |
Total commercial and industrial | 6,198 |  |  | 89 |  |  | 4,261 |  |  | 10,548 |  |  | 1,985,434 |  |  | 1,995,982 |
Residential real estate | 2,100 |  |  | 2,994 |  |  | 3,912 |  |  | 9,006 |  |  | 3,126,194 |  |  | 3,135,200 |
Other consumer | 1,616 |  |  | 533 |  |  | 1,410 |  |  | 3,559 |  |  | 212,022 |  |  | 215,581 |
Total loans | $ | 14,040 |  |  | $ | 5,777 |  |  | $ | 28,096 |  |  | $ | 47,913 |  |  | $ | 10,510,070 |  |  | $ | 10,557,983 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor | $ | 4,624 |  |  | $ | 8,880 |  |  | $ | 10,877 |  |  | $ | 24,381 |  |  | $ | 5,263,302 |  |  | $ | 5,287,683 |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial - real estate | 941 |  |  | — |  |  | 1,392 |  |  | 2,333 |  |  | 899,886 |  |  | 902,219 |
Commercial and industrial - non-real estate | 3 |  |  | — |  |  | 16 |  |  | 19 |  |  | 647,926 |  |  | 647,945 |
Total commercial and industrial | 944 |  |  | — |  |  | 1,408 |  |  | 2,352 |  |  | 1,547,812 |  |  | 1,550,164 |
Residential real estate | 18,518 |  |  | 2,242 |  |  | 6,551 |  |  | 27,311 |  |  | 3,022,452 |  |  | 3,049,763 |
Other consumer | 1,060 |  |  | 282 |  |  | 1,999 |  |  | 3,341 |  |  | 227,121 |  |  | 230,462 |
Total loans | $ | 25,146 |  |  | $ | 11,404 |  |  | $ | 20,835 |  |  | $ | 57,385 |  |  | $ | 10,060,687 |  |  | $ | 10,118,072 |
Loan Modifications to Borrowers Experiencing Financial Difficulty In accordance with Accounting Standards Update (“ASU”) 2022-02, the Company has modified and may modify in the future certain loans to borrowers experiencing financial difficulty. These modifications may include a reduction in interest rate, an extension in term, principal forgiveness and/or other than insignificant payment delay. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount, and the allowance for credit losses is subsequently adjusted by an amount equal to the total loss rate as applied to the reduced amortized cost basis. As of September 30, 2025 and December 31, 2024, loans with modifications to borrowers experiencing financial difficulty totaled $31.6 million and $30.9 million, respectively. There were no outstanding commitments to lend additional funds to such borrowers with loan modifications as of September 30, 2025 or December 31, 2024. The following table presents loan modifications made to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2025 and 2024 (in thousands):
|  | Term Extension |  |  |  |  |  | Combination of Term Extension and Other Than Insignificant Payment Delay |  |  |  | Total |  | % of Total by Loan Portfolio Segment
For the three months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  | $ | 246 |  |  |  |  |  |  | $ | — |  |  |  |  | $ | 246 |  |  | 0.01 | %
|  | $ | 246 |  |  |  |  |  |  | $ | — |  |  |  |  | $ | 246 |  |  | — | %
For the nine months ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | 4,972 |  |  |  |  |  |  | $ | 4,423 |  |  |  |  | $ | 9,395 |  |  | 0.18 | %
Residential real estate |  | 246 |  |  |  |  |  |  | — |  |  |  |  | 246 |  |  | 0.01 |
|  | $ | 5,218 |  |  |  |  |  |  | $ | 4,423 |  |  |  |  | $ | 9,641 |  |  | 0.09 | %
|  | Term Extension |  | Interest Rate Reduction |  | Combination of Term Extension and Interest Rate Reduction |  |  |  | Other Than Insignificant Payment Delay |  | Total |  | % of Total by Loan Portfolio Segment |  |
For the three months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | $ | — |  |  | $ | — |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |  |  | — | % |  |
For the nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | — |  |  | $ | 4,878 |  |  | $ | 7,000 |  |  |  |  | $ | — |  |  | $ | 11,878 |  |  | 0.23 | % |  |
Commercial and industrial – real estate |  | — |  |  | — |  |  | — |  |  |  |  | 2,994 |  |  | 2,994 |  |  | 0.36 |  |  |
Residential real estate |  | 129 |  |  | — |  |  | — |  |  |  |  | — |  |  | 129 |  |  | — |  |  |
Other consumer |  | — |  |  | — |  |  | 148 |  |  |  |  | — |  |  | 148 |  |  | 0.06 |  |  |
|  | $ | 129 |  |  | $ | 4,878 |  |  | $ | 7,148 |  |  |  |  | $ | 2,994 |  |  | $ | 15,149 |  |  | 0.15 | % |  |
The modifications during the periods presented had an insignificant financial effect on the Company. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table provides the performance of loans modified to borrowers experiencing financial difficulty during the twelve months ended September 30, 2025 and 2024 (in thousands):
|  | Current |  | 60 - 89 Days past due |  |  |  | Total
September 30, 2025 |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | 16,684 |  |  | $ | — |  |  |  |  | $ | 16,684 |
Residential real estate |  | 246 |  |  | — |  |  |  |  | 246 |
|  | $ | 16,930 |  |  | $ | — |  |  |  |  | $ | 16,930 |
September 30, 2024 |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | 19,645 |  |  | $ | — |  |  |  |  | $ | 19,645 |
Commercial and industrial – real estate |  | 2,896 |  |  | — |  |  |  |  | 2,896 |
Residential real estate |  | 128 |  |  | — |  |  |  |  | 128 |
Other consumer |  | 47 |  |  | 147 |  |  |  |  | 194 |
|  | $ | 22,716 |  |  | $ | 147 |  |  |  |  | $ | 22,863 |
At September 30, 2025 and 2024, there were no loans to borrowers experiencing financial difficulty that were 90 days or greater past due.

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