XML 35 R28.htm IDEA: XBRL DOCUMENT v3.25.2
Loans and Allowance for Credit Losses (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Summary of Loans

A summary of loans at June 30, 2025 and December 31, 2024 follows (in thousands):

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Construction and land development

 

$

298,953

 

 

$

236,258

 

Agricultural real estate

 

 

382,120

 

 

 

391,436

 

1-4 family residential properties

 

 

500,771

 

 

 

502,243

 

Multifamily residential properties

 

 

361,605

 

 

 

334,032

 

Commercial real estate

 

 

2,414,993

 

 

 

2,442,627

 

Loans secured by real estate

 

 

3,958,442

 

 

 

3,906,596

 

Agricultural loans

 

 

305,640

 

 

 

239,138

 

Commercial and industrial loans

 

 

1,328,315

 

 

 

1,340,865

 

Consumer loans

 

 

41,919

 

 

 

54,481

 

All other loans

 

 

164,008

 

 

 

169,232

 

Total gross loans

 

 

5,798,324

 

 

 

5,710,312

 

Less: loans held for sale

 

 

7,359

 

 

 

6,614

 

 

 

5,790,965

 

 

 

5,703,698

 

Less:

 

 

 

 

 

 

Net deferred loan fees, premiums and discounts

 

 

31,325

 

 

 

37,850

 

Allowance for credit losses

 

 

71,160

 

 

 

70,182

 

Net loans

 

$

5,688,480

 

 

$

5,595,666

 
Summary of Gross Commercial Real Estate Loans by Property Type

The following table represents the gross commercial real estate loans by property type as of June 30, 2025 (in thousands):

 

 

 

June 30, 2025

 

 

December 31, 2024

 

Commercial real estate

 

 

 

 

 

 

Owner occupied

 

$

763,222

 

 

$

782,231

 

Non-owner occupied

 

 

 

 

 

 

Shopping centers and malls

 

 

231,879

 

 

 

244,000

 

Industrial and warehouse

 

 

227,174

 

 

 

218,175

 

Hotels and motels

 

 

206,317

 

 

 

206,425

 

Skilled nursing facility

 

 

160,103

 

 

 

172,834

 

Office

 

 

154,472

 

 

 

145,006

 

Assisted living facility

 

 

124,781

 

 

 

119,416

 

Retail

 

 

112,169

 

 

 

110,850

 

RV parks and campgrounds

 

 

101,807

 

 

 

84,346

 

Medical office

 

 

79,898

 

 

 

88,532

 

Other property types

 

 

253,171

 

 

 

270,812

 

Total commercial real estate

 

$

2,414,993

 

 

$

2,442,627

 
Allowance for Credit Losses Based on Portfolio Segment

The following table presents the activity in the allowance for credit losses based on portfolio segment for the three and six months ended June 30, 2025 (in thousands):

 

 

 

Construction
and Land
Development

 

 

Agricultural
Real Estate

 

 

1-4 Family
Residential
Properties

 

 

Commercial
Real Estate

 

 

Agricultural
Loans

 

 

Commercial
and Industrial

 

 

Consumer
Loans

 

 

Total

 

Three months ended
June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

3,731

 

 

$

1,292

 

 

$

3,544

 

 

$

32,214

 

 

$

1,649

 

 

$

26,028

 

 

$

1,593

 

 

$

70,051

 

Provision (release) for credit loss expense

 

 

335

 

 

 

30

 

 

 

(7

)

 

 

1,111

 

 

 

1,287

 

 

 

(203

)

 

 

14

 

 

 

2,567

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(55

)

 

 

(70

)

 

 

(1,386

)

 

 

(489

)

 

 

(261

)

 

 

(2,261

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

134

 

 

 

3

 

 

 

217

 

 

 

282

 

 

 

167

 

 

 

803

 

Ending balance

 

$

4,066

 

 

$

1,322

 

 

$

3,616

 

 

$

33,258

 

 

$

1,767

 

 

$

25,618

 

 

$

1,513

 

 

$

71,160

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended
June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

Provision (release) for credit loss expense

 

 

791

 

 

 

(39

)

 

 

(21

)

 

 

986

 

 

 

2,096

 

 

 

356

 

 

 

50

 

 

 

4,219

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(94

)

 

 

(408

)

 

 

(2,503

)

 

 

(712

)

 

 

(627

)

 

 

(4,344

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

152

 

 

 

11

 

 

 

217

 

 

 

372

 

 

 

351

 

 

 

1,103

 

Ending balance

 

$

4,066

 

 

$

1,322

 

 

$

3,616

 

 

$

33,258

 

 

$

1,767

 

 

$

25,618

 

 

$

1,513

 

 

$

71,160

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The following tables present the activity in the allowance for credit losses based on portfolio segment for the three and six months ended June 30, 2024 and for the year ended December 31, 2024 (in thousands):

 

 

 

Construction and Land Development

 

 

Agricultural Real Estate

 

 

1-4 Family Residential Properties

 

 

Commercial Real Estate

 

 

Agricultural Loans

 

 

Commercial and Industrial

 

 

Consumer Loans

 

 

Total

 

Three months ended
June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

2,701

 

 

$

1,358

 

 

$

3,778

 

 

$

32,537

 

 

$

778

 

 

$

24,631

 

 

$

2,153

 

 

$

67,936

 

Provision for credit loss expense

 

 

(55

)

 

 

14

 

 

 

(264

)

 

 

376

 

 

 

316

 

 

 

624

 

 

 

72

 

 

 

1,083

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(34

)

 

 

—

 

 

 

(209

)

 

 

(368

)

 

 

(374

)

 

 

(985

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

100

 

 

 

5

 

 

 

—

 

 

 

44

 

 

 

129

 

 

 

278

 

Ending balance

 

$

2,646

 

 

$

1,372

 

 

$

3,580

 

 

$

32,918

 

 

$

885

 

 

$

24,931

 

 

$

1,980

 

 

$

68,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended
June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

2,918

 

 

$

1,366

 

 

$

4,220

 

 

$

31,758

 

 

$

705

 

 

$

25,450

 

 

$

2,258

 

 

$

68,675

 

Provision (release) for credit loss expense

 

 

(272

)

 

 

6

 

 

 

(688

)

 

 

994

 

 

 

441

 

 

 

15

 

 

 

230

 

 

 

726

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(101

)

 

 

—

 

 

 

(261

)

 

 

(642

)

 

 

(800

)

 

 

(1,804

)

Recoveries collected

 

 

—

 

 

 

—

 

 

 

149

 

 

 

166

 

 

 

—

 

 

 

108

 

 

 

292

 

 

 

715

 

Ending balance

 

$

2,646

 

 

$

1,372

 

 

$

3,580

 

 

$

32,918

 

 

$

885

 

 

$

24,931

 

 

$

1,980

 

 

$

68,312

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Twelve months ended
December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

$

2,918

 

 

$

1,366

 

 

$

4,220

 

 

$

31,758

 

 

$

705

 

 

$

25,450

 

 

$

2,258

 

 

$

68,675

 

Provision (release) for credit loss expense

 

 

352

 

 

 

(5

)

 

 

(785

)

 

 

1,178

 

 

 

3,587

 

 

 

510

 

 

 

798

 

 

 

5,635

 

Loans charged off

 

 

—

 

 

 

—

 

 

 

(195

)

 

 

(451

)

 

 

(2,410

)

 

 

(688

)

 

 

(2,004

)

 

 

(5,748

)

Recoveries collected

 

 

5

 

 

 

—

 

 

 

339

 

 

 

184

 

 

 

75

 

 

 

330

 

 

 

687

 

 

 

1,620

 

Ending balance

 

$

3,275

 

 

$

1,361

 

 

$

3,579

 

 

$

32,669

 

 

$

1,957

 

 

$

25,602

 

 

$

1,739

 

 

$

70,182

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 
Amortized Cost Basis of Collateral-Dependent Loans by Class of Loans Individually Evaluated

The following table presents the amortized cost basis of collateral-dependent loans by class of loans that were individually evaluated to determine expected credit losses, and the related allowance for credit losses, as of June 30, 2025 (in thousands):

 

 

 

Collateral

 

 

Allowance

 

 

 

Real Estate

 

 

Business
Assets

 

 

Total

 

 

for Credit
Losses

 

Agricultural real estate

 

$

575

 

 

$

—

 

 

$

575

 

 

$

—

 

1-4 family residential properties

 

 

157

 

 

 

—

 

 

 

157

 

 

 

4

 

Multifamily residential properties

 

 

397

 

 

 

—

 

 

 

397

 

 

 

—

 

Commercial real estate

 

 

4,511

 

 

 

—

 

 

 

4,511

 

 

 

6

 

Loans secured by real estate

 

 

5,640

 

 

 

—

 

 

 

5,640

 

 

 

10

 

Agricultural loans

 

 

—

 

 

 

1,033

 

 

 

1,033

 

 

 

—

 

Commercial and industrial loans

 

 

—

 

 

 

1,183

 

 

 

1,183

 

 

 

291

 

Other loans

 

 

—

 

 

 

2,194

 

 

 

2,194

 

 

 

—

 

Total loans

 

$

5,640

 

 

$

4,410

 

 

$

10,050

 

 

$

301

 
Credit Risk Profile of Loan Portfolio on Amortized Cost Basis Based on Risk Rating Category and Year of Origination

The following tables present the credit risk profile of the Company’s loan portfolio on amortized cost basis based on risk rating category and year of origination as of June 30, 2025 (in thousands):

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Loans

 

 

Total

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

37,106

 

 

$

105,536

 

 

$

108,091

 

 

$

13,793

 

 

$

14,984

 

 

$

18,923

 

 

$

—

 

 

$

298,433

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

366

 

 

 

—

 

 

 

366

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5

 

 

 

—

 

 

 

8

 

 

 

—

 

 

 

13

 

Total

 

$

37,106

 

 

$

105,536

 

 

$

108,091

 

 

$

13,798

 

 

$

14,984

 

 

$

19,297

 

 

$

—

 

 

$

298,812

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Agricultural real estate loans

 

Pass

 

$

23,371

 

 

$

24,379

 

 

$

13,483

 

 

$

134,983

 

 

$

62,151

 

 

$

110,630

 

 

$

—

 

 

$

368,997

 

Special mention

 

 

148

 

 

 

200

 

 

 

1,367

 

 

 

800

 

 

 

979

 

 

 

7,319

 

 

 

—

 

 

 

10,813

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

574

 

 

 

—

 

 

 

1,133

 

 

 

—

 

 

 

1,707

 

Total

 

$

23,519

 

 

$

24,579

 

 

$

14,850

 

 

$

136,357

 

 

$

63,130

 

 

$

119,082

 

 

$

—

 

 

$

381,517

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

1-4 family residential property loans

 

Pass

 

$

34,999

 

 

$

36,049

 

 

$

33,422

 

 

$

67,870

 

 

$

71,720

 

 

$

155,394

 

 

$

83,993

 

 

$

483,447

 

Special mention

 

 

214

 

 

 

174

 

 

 

—

 

 

 

271

 

 

 

312

 

 

 

709

 

 

 

—

 

 

 

1,680

 

Substandard

 

 

113

 

 

 

299

 

 

 

651

 

 

 

954

 

 

 

765

 

 

 

7,056

 

 

 

822

 

 

 

10,660

 

Total

 

$

35,326

 

 

$

36,522

 

 

$

34,073

 

 

$

69,095

 

 

$

72,797

 

 

$

163,159

 

 

$

84,815

 

 

$

495,787

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

9

 

 

$

—

 

 

$

—

 

 

$

85

 

 

$

—

 

 

$

94

 

Commercial real estate loans

 

Pass

 

$

160,943

 

 

$

215,564

 

 

$

198,315

 

 

$

636,078

 

 

$

509,632

 

 

$

980,943

 

 

$

—

 

 

$

2,701,475

 

Special mention

 

 

—

 

 

 

2,973

 

 

 

13,640

 

 

 

12,635

 

 

 

298

 

 

 

9,683

 

 

 

—

 

 

 

39,229

 

Substandard

 

 

—

 

 

 

1,473

 

 

 

48

 

 

 

4,902

 

 

 

2,507

 

 

 

4,610

 

 

 

—

 

 

 

13,540

 

Total

 

$

160,943

 

 

$

220,010

 

 

$

212,003

 

 

$

653,615

 

 

$

512,437

 

 

$

995,236

 

 

$

—

 

 

$

2,754,244

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

338

 

 

$

—

 

 

$

70

 

 

$

—

 

 

$

408

 

Agricultural loans

 

Pass

 

$

158,666

 

 

$

86,034

 

 

$

16,268

 

 

$

20,614

 

 

$

13,784

 

 

$

3,655

 

 

$

—

 

 

$

299,021

 

Special mention

 

 

1,113

 

 

 

1,265

 

 

 

2,459

 

 

 

927

 

 

 

122

 

 

 

—

 

 

 

—

 

 

 

5,886

 

Substandard

 

 

410

 

 

 

185

 

 

 

859

 

 

 

13

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,467

 

Total

 

$

160,189

 

 

$

87,484

 

 

$

19,586

 

 

$

21,554

 

 

$

13,906

 

 

$

3,655

 

 

$

—

 

 

$

306,374

 

Current period gross write-offs

 

$

—

 

 

$

280

 

 

$

1,081

 

 

$

836

 

 

$

306

 

 

$

—

 

 

$

—

 

 

$

2,503

 

Commercial and industrial loans

 

Pass

 

$

252,605

 

 

$

256,036

 

 

$

106,096

 

 

$

231,321

 

 

$

172,600

 

 

$

434,968

 

 

$

—

 

 

$

1,453,626

 

Special mention

 

 

10

 

 

 

6,238

 

 

 

9,731

 

 

 

1,571

 

 

 

4,132

 

 

 

2,108

 

 

 

—

 

 

 

23,790

 

Substandard

 

 

—

 

 

 

248

 

 

 

2,288

 

 

 

1,079

 

 

 

246

 

 

 

7,384

 

 

 

—

 

 

 

11,245

 

Total

 

$

252,615

 

 

$

262,522

 

 

$

118,115

 

 

$

233,971

 

 

$

176,978

 

 

$

444,460

 

 

$

—

 

 

$

1,488,661

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

14

 

 

$

53

 

 

$

—

 

 

$

645

 

 

$

—

 

 

$

712

 

Consumer loans

 

Pass

 

$

3,290

 

 

$

3,530

 

 

$

3,750

 

 

$

18,118

 

 

$

8,361

 

 

$

4,105

 

 

$

—

 

 

$

41,154

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

51

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

51

 

Substandard

 

 

—

 

 

 

41

 

 

 

21

 

 

 

127

 

 

 

145

 

 

 

65

 

 

 

—

 

 

 

399

 

Total

 

$

3,290

 

 

$

3,571

 

 

$

3,771

 

 

$

18,296

 

 

$

8,506

 

 

$

4,170

 

 

$

—

 

 

$

41,604

 

Current period gross write-offs

 

$

—

 

 

$

8

 

 

$

23

 

 

$

83

 

 

$

42

 

 

$

471

 

 

$

—

 

 

$

627

 

Total loans

 

Pass

 

$

670,980

 

 

$

727,128

 

 

$

479,425

 

 

$

1,122,777

 

 

$

853,232

 

 

$

1,708,618

 

 

$

83,993

 

 

$

5,646,153

 

Special mention

 

 

1,485

 

 

 

10,850

 

 

 

27,197

 

 

 

16,255

 

 

 

5,843

 

 

 

20,185

 

 

 

—

 

 

 

81,815

 

Substandard

 

 

523

 

 

 

2,246

 

 

 

3,867

 

 

 

7,654

 

 

 

3,663

 

 

 

20,256

 

 

 

822

 

 

 

39,031

 

Total

 

$

672,988

 

 

$

740,224

 

 

$

510,489

 

 

$

1,146,686

 

 

$

862,738

 

 

$

1,749,059

 

 

$

84,815

 

 

$

5,766,999

 

Current period gross write-offs

 

$

—

 

 

$

288

 

 

$

1,127

 

 

$

1,310

 

 

$

348

 

 

$

1,271

 

 

$

—

 

 

$

4,344

 

 

The following tables present the credit risk profile of the Company’s loan portfolio based on risk rating category as of December 31, 2024 (in thousands):

 

 

 

Term Loans by Origination Year

 

 

Revolving

 

 

 

 

Risk rating

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development loans

 

Pass

 

$

82,696

 

 

$

101,715

 

 

$

14,390

 

 

$

15,817

 

 

$

4,735

 

 

$

16,342

 

 

$

—

 

 

$

235,695

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

382

 

 

 

—

 

 

 

382

 

Substandard

 

 

—

 

 

 

—

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

10

 

 

 

—

 

 

 

16

 

Total

 

$

82,696

 

 

$

101,715

 

 

$

14,396

 

 

$

15,817

 

 

$

4,735

 

 

$

16,734

 

 

$

—

 

 

$

236,093

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Agricultural real estate loans

 

Pass

 

$

25,824

 

 

$

17,292

 

 

$

159,433

 

 

$

55,083

 

 

$

48,700

 

 

$

73,592

 

 

$

—

 

 

$

379,924

 

Special mention

 

 

—

 

 

 

192

 

 

 

107

 

 

 

986

 

 

 

1,755

 

 

 

5,630

 

 

 

—

 

 

 

8,670

 

Substandard

 

 

—

 

 

 

141

 

 

 

966

 

 

 

—

 

 

 

—

 

 

 

1,059

 

 

 

—

 

 

 

2,166

 

Total

 

$

25,824

 

 

$

17,625

 

 

$

160,506

 

 

$

56,069

 

 

$

50,455

 

 

$

80,281

 

 

$

—

 

 

$

390,760

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

1-4 family residential property loans

 

Pass

 

$

46,350

 

 

$

36,454

 

 

$

74,580

 

 

$

75,325

 

 

$

61,936

 

 

$

110,348

 

 

$

79,714

 

 

$

484,707

 

Special mention

 

 

175

 

 

 

—

 

 

 

204

 

 

 

326

 

 

 

—

 

 

 

577

 

 

 

59

 

 

 

1,341

 

Substandard

 

 

174

 

 

 

672

 

 

 

916

 

 

 

737

 

 

 

557

 

 

 

6,875

 

 

 

618

 

 

 

10,549

 

Total

 

$

46,699

 

 

$

37,126

 

 

$

75,700

 

 

$

76,388

 

 

$

62,493

 

 

$

117,800

 

 

$

80,391

 

 

$

496,597

 

Current period gross write-offs

 

$

—

 

 

$

46

 

 

$

13

 

 

$

33

 

 

$

—

 

 

$

103

 

 

$

—

 

 

$

195

 

Commercial real estate loans

 

Pass

 

$

216,297

 

 

$

213,704

 

 

$

680,665

 

 

$

535,056

 

 

$

289,855

 

 

$

774,516

 

 

$

—

 

 

$

2,710,093

 

Special mention

 

 

659

 

 

 

13,732

 

 

 

4,090

 

 

 

2,053

 

 

 

713

 

 

 

10,462

 

 

 

—

 

 

 

31,709

 

Substandard

 

 

—

 

 

 

49

 

 

 

3,844

 

 

 

467

 

 

 

—

 

 

 

4,067

 

 

 

—

 

 

 

8,427

 

Total

 

$

216,956

 

 

$

227,485

 

 

$

688,599

 

 

$

537,576

 

 

$

290,568

 

 

$

789,045

 

 

$

—

 

 

$

2,750,229

 

Current period gross write-offs

 

$

—

 

 

$

—

 

 

$

151

 

 

$

—

 

 

$

—

 

 

$

300

 

 

$

—

 

 

$

451

 

Agricultural loans

 

Pass

 

$

175,402

 

 

$

24,024

 

 

$

13,147

 

 

$

9,162

 

 

$

1,585

 

 

$

2,306

 

 

$

—

 

 

$

225,626

 

Special mention

 

 

617

 

 

 

2,208

 

 

 

976

 

 

 

100

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,901

 

Substandard

 

 

843

 

 

 

7,092

 

 

 

2,209

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

10,144

 

Total

 

$

176,862

 

 

$

33,324

 

 

$

16,332

 

 

$

9,262

 

 

$

1,585

 

 

$

2,306

 

 

$

—

 

 

$

239,671

 

Current period gross write-offs

 

$

—

 

 

$

2,213

 

 

$

100

 

 

$

52

 

 

$

—

 

 

$

45

 

 

$

—

 

 

$

2,410

 

Commercial and industrial loans

 

Pass

 

$

307,785

 

 

$

228,411

 

 

$

278,845

 

 

$

183,042

 

 

$

131,005

 

 

$

360,610

 

 

$

—

 

 

$

1,489,698

 

Special mention

 

 

54

 

 

 

1,149

 

 

 

1,277

 

 

 

748

 

 

 

1,020

 

 

 

7,583

 

 

 

—

 

 

 

11,831

 

Substandard

 

 

65

 

 

 

1,410

 

 

 

789

 

 

 

446

 

 

 

98

 

 

 

815

 

 

 

—

 

 

 

3,623

 

Total

 

$

307,904

 

 

$

230,970

 

 

$

280,911

 

 

$

184,236

 

 

$

132,123

 

 

$

369,008

 

 

$

—

 

 

$

1,505,152

 

Current period gross write-offs

 

$

10

 

 

$

47

 

 

$

207

 

 

$

378

 

 

$

10

 

 

$

36

 

 

$

—

 

 

$

688

 

Consumer loans

 

Pass

 

$

5,098

 

 

$

5,138

 

 

$

24,430

 

 

$

11,810

 

 

$

4,494

 

 

$

2,385

 

 

$

—

 

 

$

53,355

 

Special mention

 

 

—

 

 

 

—

 

 

 

14

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

14

 

Substandard

 

 

12

 

 

 

21

 

 

 

259

 

 

 

216

 

 

 

54

 

 

 

29

 

 

 

—

 

 

 

591

 

Total

 

$

5,110

 

 

$

5,159

 

 

$

24,703

 

 

$

12,026

 

 

$

4,548

 

 

$

2,414

 

 

$

—

 

 

$

53,960

 

Current period gross write-offs

 

$

98

 

 

$

63

 

 

$

154

 

 

$

139

 

 

$

59

 

 

$

1,491

 

 

$

—

 

 

$

2,004

 

Total loans

 

Pass

 

$

859,452

 

 

$

626,738

 

 

$

1,245,490

 

 

$

885,295

 

 

$

542,310

 

 

$

1,340,099

 

 

$

79,714

 

 

$

5,579,098

 

Special mention

 

 

1,505

 

 

 

17,281

 

 

 

6,668

 

 

 

4,213

 

 

 

3,488

 

 

 

24,634

 

 

 

59

 

 

 

57,848

 

Substandard

 

 

1,094

 

 

 

9,385

 

 

 

8,989

 

 

 

1,866

 

 

 

709

 

 

 

12,855

 

 

 

618

 

 

 

35,516

 

Total

 

$

862,051

 

 

$

653,404

 

 

$

1,261,147

 

 

$

891,374

 

 

$

546,507

 

 

$

1,377,588

 

 

$

80,391

 

 

$

5,672,462

 

Current period gross write-offs

 

$

108

 

 

$

2,369

 

 

$

625

 

 

$

602

 

 

$

69

 

 

$

1,975

 

 

$

—

 

 

$

5,748

 

 
Loan Portfolio Aging Analysis

The following table presents the Company’s loan portfolio aging analysis at June 30, 2025 and December 31, 2024 (in thousands):

 

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

90 Days or
More
Past Due

 

 

Total Past
Due

 

 

Current

 

 

Total Loans
Receivable

 

 

Total Loans
> 90 Days and
Accruing

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

89

 

 

$

—

 

 

$

—

 

 

$

89

 

 

$

298,723

 

 

$

298,812

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

574

 

 

 

841

 

 

 

1,415

 

 

 

380,102

 

 

 

381,517

 

 

 

—

 

1-4 family residential properties

 

 

362

 

 

 

1,511

 

 

 

2,149

 

 

 

4,022

 

 

 

491,765

 

 

 

495,787

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

360,604

 

 

 

360,604

 

 

 

—

 

Commercial real estate

 

 

14,185

 

 

 

3,796

 

 

 

2,755

 

 

 

20,736

 

 

 

2,372,904

 

 

 

2,393,640

 

 

 

—

 

Loans secured by real estate

 

 

14,636

 

 

 

5,881

 

 

 

5,745

 

 

 

26,262

 

 

 

3,904,098

 

 

 

3,930,360

 

 

 

—

 

Agricultural loans

 

 

—

 

 

 

262

 

 

 

2,557

 

 

 

2,819

 

 

 

303,555

 

 

 

306,374

 

 

 

—

 

Commercial and industrial loans

 

 

369

 

 

 

177

 

 

 

847

 

 

 

1,393

 

 

 

1,323,260

 

 

 

1,324,653

 

 

 

—

 

Consumer loans

 

 

150

 

 

 

32

 

 

 

31

 

 

 

213

 

 

 

41,391

 

 

 

41,604

 

 

 

—

 

All other loans

 

 

—

 

 

 

2,194

 

 

 

—

 

 

 

2,194

 

 

 

161,814

 

 

 

164,008

 

 

 

—

 

Total loans

 

$

15,155

 

 

$

8,546

 

 

$

9,180

 

 

$

32,881

 

 

$

5,734,118

 

 

$

5,766,999

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.57

%

 

 

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction and land development

 

$

6

 

 

$

—

 

 

$

—

 

 

$

6

 

 

$

236,087

 

 

$

236,093

 

 

$

—

 

Agricultural real estate

 

 

—

 

 

 

—

 

 

 

533

 

 

 

533

 

 

 

390,227

 

 

 

390,760

 

 

 

—

 

1-4 family residential properties

 

 

2,209

 

 

 

931

 

 

 

2,089

 

 

 

5,229

 

 

 

491,368

 

 

 

496,597

 

 

 

—

 

Multifamily residential properties

 

 

—

 

 

 

—

 

 

 

472

 

 

 

472

 

 

 

332,172

 

 

 

332,644

 

 

 

—

 

Commercial real estate

 

 

595

 

 

 

553

 

 

 

344

 

 

 

1,492

 

 

 

2,416,093

 

 

 

2,417,585

 

 

 

—

 

Loans secured by real estate

 

 

2,810

 

 

 

1,484

 

 

 

3,438

 

 

 

7,732

 

 

 

3,865,947

 

 

 

3,873,679

 

 

 

—

 

Agricultural loans

 

 

550

 

 

 

—

 

 

 

1,289

 

 

 

1,839

 

 

 

237,832

 

 

 

239,671

 

 

 

—

 

Commercial and industrial loans

 

 

337

 

 

 

89

 

 

 

463

 

 

 

889

 

 

 

1,335,031

 

 

 

1,335,920

 

 

 

—

 

Consumer loans

 

 

442

 

 

 

48

 

 

 

111

 

 

 

601

 

 

 

53,359

 

 

 

53,960

 

 

 

—

 

All other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

169,232

 

 

 

169,232

 

 

 

—

 

Total loans

 

$

4,139

 

 

$

1,621

 

 

$

5,301

 

 

$

11,061

 

 

$

5,661,401

 

 

$

5,672,462

 

 

$

—

 

Percent of total loans

 

 

 

 

 

 

 

 

 

 

 

0.19

%

 

 

 

 

 

 

 

 

 
Amortized Cost Basis of Loans on Nonaccrual Status and Nonaccrual Loans Individually Evaluated

The following table presents the amortized cost basis of loans on nonaccrual status and of nonaccrual loans individually evaluated for which no allowance was recorded as of June 30, 2025 and December 31, 2024 (in thousands). There were no loans past due over eighty-nine days that were still accruing.

 

 

June 30, 2025

 

 

December 31, 2024

 

 

 

Nonaccrual
with no
Allowance for

 

 

Total

 

 

Nonaccrual
with no
Allowance for

 

 

Total

 

 

 

Credit Loss

 

 

Nonaccrual

 

 

Credit Loss

 

 

Nonaccrual

 

Construction and land development

 

$

5

 

 

$

5

 

 

$

6

 

 

$

6

 

Agricultural real estate

 

 

1,856

 

 

 

1,856

 

 

 

2,213

 

 

 

2,213

 

1-4 family residential properties

 

 

4,708

 

 

 

5,586

 

 

 

4,196

 

 

 

4,937

 

Commercial real estate

 

 

6,841

 

 

 

6,959

 

 

 

4,901

 

 

 

7,716

 

Loans secured by real estate

 

 

13,410

 

 

 

14,406

 

 

 

11,316

 

 

 

14,872

 

Agricultural loans

 

 

1,617

 

 

 

1,617

 

 

 

1,371

 

 

 

11,521

 

Commercial and industrial loans

 

 

1,263

 

 

 

1,986

 

 

 

1,320

 

 

 

2,071

 

Consumer loans

 

 

151

 

 

 

151

 

 

 

311

 

 

 

311

 

All other loans

 

 

2,194

 

 

 

2,194

 

 

 

—

 

 

 

—

 

Total loans

 

$

18,635

 

 

$

20,354

 

 

$

14,318

 

 

$

28,775

 
Amortized Cost Basis of Loans Experiencing Financial Difficulty and Modified

The following table shows the amortized cost of loans at June 30, 2025 and 2024 that were both experiencing financial difficulty and modified segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to outstanding loans is also presented below.

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

 

Payment

 

 

Term

 

 

Interest

 

 

Class of

 

 

 

Delay

 

 

Extension

 

 

Rate

 

 

Financing

 

 

 

Investment

 

 

Modifications

 

 

Reduction

 

 

Receivable

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

296

 

 

$

—

 

 

$

—

 

 

 

0.01

%

1-4 family residential properties

 

 

40

 

 

 

736

 

 

 

—

 

 

 

0.01

%

Commercial real estate

 

 

792

 

 

 

130

 

 

 

505

 

 

 

0.02

%

Loans secured by real estate

 

 

1,128

 

 

 

866

 

 

 

505

 

 

 

0.04

%

Commercial and industrial loans

 

 

831

 

 

 

81

 

 

 

—

 

 

 

0.02

%

Consumer loans

 

 

—

 

 

 

6

 

 

 

—

 

 

 

—

%

Total

 

$

1,959

 

 

$

953

 

 

$

505

 

 

 

0.06

%

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Agricultural real estate

 

$

317

 

 

$

—

 

 

$

—

 

 

 

0.01

%

1-4 family residential properties

 

 

49

 

 

 

778

 

 

 

—

 

 

 

0.01

%

Commercial real estate

 

 

694

 

 

 

216

 

 

 

502

 

 

 

0.03

%

Loans secured by real estate

 

 

1,060

 

 

 

994

 

 

 

502

 

 

 

0.05

%

Commercial and industrial loans

 

 

168

 

 

 

126

 

 

 

—

 

 

 

0.01

%

Consumer loans

 

 

5

 

 

 

12

 

 

 

—

 

 

 

—

%

Total

 

$

1,233

 

 

$

1,132

 

 

$

502

 

 

 

0.05

%

 
Performance of loans modified The following table shows the performance of such loans that have been modified in the last twelve months ended June 30, 2025 and 2024.

 

 

30-59
Days Past
Due

 

 

60-89
Days Past
Due

 

 

90 Days or
More
Past Due

 

 

Total Past
Due

 

June 30, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Total loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

June 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

1-4 family residential properties

 

$

25

 

 

$

—

 

 

$

—

 

 

$

25

 

Commercial real estate

 

 

116

 

 

 

—

 

 

 

—

 

 

 

116

 

Loans secured by real estate

 

 

141

 

 

 

—

 

 

 

—

 

 

 

141

 

Commercial and industrial loans

 

 

131

 

 

 

—

 

 

 

—

 

 

 

131

 

Consumer loans

 

 

—

 

 

 

12

 

 

 

—

 

 

 

12

 

Total loans

 

$

272

 

 

$

12

 

 

$

—

 

 

$

284

 
Financial Effect of Loan Modifications

The following table shows the financial effect of loan modifications during the current quarter to borrowers experiencing financial difficulty for the three months ended June 30, 2025 and 2024.

 

 

Weighted Average

 

 

Weighted Average

 

 

 

Interest Rate

 

 

Term Extension

 

 

 

Reduction

 

 

(in months)

 

June 30, 2025

 

 

 

 

 

 

Total

 

 

—

%

 

 

—

 

June 30, 2024

 

 

 

 

 

 

Commercial and industrial loans

 

 

—

%

 

 

7.00