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Loans and Allowance for Credit Losses on Loans

3 Months Ended

Mar. 31, 2025

Loans and Allowance for Credit Losses on Loans

Loans and Allowance for Credit Losses on Loans

Note 4 – Loans and Allowance for Credit Losses on Loans

Major segments of loans were as follows:


	March 31, 2025		December 31, 2024
Commercial	$	732,874	$	800,476
Leases		505,455		491,748
Commercial real estate – investor		1,105,440		1,078,829
Commercial real estate – owner occupied		669,964		683,283
Construction		205,839		201,716
Residential real estate – investor		50,103		49,598
Residential real estate – owner occupied		210,239		206,949
Multifamily		341,253		351,325
HELOC		104,575		103,388
Other ¹		14,490		14,024
Total loans		3,940,232		3,981,336
Allowance for credit losses on loans		(41,551)		(43,619)
Net loans ²	$	3,898,681	$	3,937,717

¹ The “Other” segment includes consumer loans and overdrafts in this table and in subsequent tables within Note 4 – Loans and Allowance for Credit Losses on Loans.

² Excludes accrued interest receivable of $17.9 million and $17.5 million at March 31, 2025, and December 31, 2024, respectively, that is recorded in other assets on the Consolidated Balance Sheets.

It is the policy of the Company to review each prospective credit prior to making a loan in order to determine if an adequate level of security or collateral has been obtained. The type of collateral, when required, will vary from liquid assets to real estate. The Company seeks to ensure access to collateral, in the event of borrower default, through adherence to lending laws, the Company’s lending standards and credit monitoring procedures. Although the Bank makes loans primarily within its market area, there are no significant concentrations of loans where the customers’ ability to honor loan terms is dependent upon a single economic sector. The real estate related categories listed above represent 68.2% and 67.2% of the portfolio at March 31, 2025, and December 31, 2024, respectively, and include a mix of owner occupied and non-owner occupied commercial real estate, residential, construction and multifamily loans.

The following tables represent the activity in the allowance for credit losses for loans, or the ACL, for the three months ended March 31, 2025 and 2024:



			Provision for
	Beginning		(Release of)						Ending
Allowance for credit losses	Balance		Credit Losses ¹		Charge-offs		Recoveries		Balance
Three months ended March 31, 2025
Commercial	$	7,813	$	3,448	$	3,446	$	32	$	7,847
Leases		2,136		148		107		14		2,191
Commercial real estate – investor		14,528		1,094		-		14		15,636
Commercial real estate – owner occupied		10,036		(2,730)		47		8		7,267
Construction		3,581		(91)		821		-		2,669
Residential real estate – investor		553		7		-		2		562
Residential real estate – owner occupied		1,509		301		-		30		1,840
Multifamily		1,876		(23)		-		-		1,853
HELOC		1,578		88		-		12		1,678
Other		9		43		108		64		8
Total	$	43,619	$	2,285	$	4,529	$	176	$	41,551

¹ Amount does not include the provision for unfunded commitment liability.



	Beginning		Provision for							Ending
Allowance for credit losses	Balance		(Release of)							Balance
Three months ended March 31, 2024	January 1, 2024		Credit Losses ¹		Charge-offs		Recoveries			March 31, 2024

Commercial	$	3,998	$	2,326	$	15	$	73	$	6,382
Leases		2,952		(33)		-		40		2,959
Commercial real estate – investor		17,105		(902)		16		83		16,270
Commercial real estate – owner occupied		12,280		2,580		3,887		19		10,992
Construction		1,038		59		-		-		1,097
Residential real estate – investor		669		(35)		-		2		636
Residential real estate – owner occupied		1,821		(169)		-		8		1,660
Multifamily		2,728		(135)		-		-		2,593
HELOC		1,656		(165)		-		17		1,508
Other		17		18		70		51		16
Total	$	44,264	$	3,544	$	3,988	$	293	$	44,113

¹ Amount does not include the provision for unfunded commitment liability.

At March 31, 2025, our allowance for credit losses (“ACL”) on loans totaled $41.6 million, and our ACL on unfunded commitments, included in other liabilities, totaled $2.0 million. During the first three months of 2025, we recorded net provision for credit losses on loans and unfunded commitments of $2.4 million based on historical loss rate updates driven by higher charge-offs in the commercial portfolio, a slight downward change to the economic forecast, the downgrade of a couple of credits, and our assessment of estimated future credit losses. The $3.4 million commercial loan charge-offs during the first quarter of 2025 are specific to two credits within a single relationship. The ACL on loans excludes an allowance for unfunded commitments of $2.0 million as of March 31, 2025, $1.9 million as of December 31, 2024, and $2.7 million as of March 31, 2024, which is recorded within other liabilities.

Generally, the Bank considers a loan to be collateral dependent when, based on current information and events, it is probable that foreclosure could be initiated. Additionally, the Bank will review all loans meeting the criteria for individual analysis, to determine if repayment or satisfaction of the loan is expected through the sale of collateral. This will generally be the case for credits with high loan-to-values. Exceptions to this policy would include loans with guarantors or sponsors that have the means and willingness to support the obligation. Non-accruing loans with an outstanding balance of $500,000 or more are assessed on an individual loan level basis. When a financial asset is deemed collateral-dependent, the level of credit loss is measured by the difference between amortized cost of the financial asset and the fair value of collateral adjusted for estimated cost to sell. The Company had $30.8 million and $26.2 million of collateral dependent loans secured by real estate or business assets as of March 31, 2025, and December 31, 2024, respectively.

The following tables present the collateral dependent loans and the related ACL allocated by segment of loans as of March 31, 2025, and December 31, 2024:


			Accounts						ACL
March 31, 2025	Real Estate		Receivable		Equipment		Total		Allocation
Commercial	$	-	$	9,197	$	2,753	$	11,950	$	3,125
Leases		-		-		-		-		-
Commercial real estate – investor		1,644		-		-		1,644		-
Commercial real estate – owner occupied		11,099		-		-		11,099		2,224
Construction		4,989		-		-		4,989		-
Residential real estate – investor		28		-		-		28		-
Residential real estate – owner occupied		1,048		-		-		1,048		-
Multifamily		-		-		-		-		-
HELOC		-		-		-		-		-
Other		-		-		-		-		-
Total	$	18,808	$	9,197	$	2,753	$	30,758	$	5,349

			Accounts						ACL
December 31, 2024	Real Estate		Receivable		Equipment		Total		Allocation
Commercial	$	-	$	6,491	$	-	$	6,491	$	2,448
Leases		-		-		-		-		-
Commercial real estate – investor		1,644		-		-		1,644		-
Commercial real estate – owner occupied		10,018		-		-		10,018		3,951
Construction		5,800		-		-		5,800		792
Residential real estate – investor		404		-		-		404		-
Residential real estate – owner occupied		1,056		-		-		1,056		-
Multifamily		836		-		-		836		-
HELOC		-		-		-		-		-
Other		-		-		-		-		-
Total	$	19,758	$	6,491	$	-	$	26,249	$	7,191

Aged analysis of past due loans by segments of loans was as follows:


													90 days or
					90 Days or								Greater Past
	30-59 Days		60-89 Days		Greater Past		Total Past						Due and
March 31, 2025	Past Due		Past Due		Due		Due		Current		Total Loans		Accruing
Commercial	$	1,754		75		2,837		4,666		728,208	$	732,874	$	1,397
Leases		3,066		306		592		3,964		501,491		505,455		-
Commercial real estate – investor		942		-		-		942		1,104,498		1,105,440		-
Commercial real estate – owner occupied		8,857		221		68		9,146		660,818		669,964		-
Construction		255		343		4,989		5,587		200,252		205,839		-
Residential real estate – investor		760		-		64		824		49,279		50,103		-
Residential real estate – owner occupied		3,168		547		505		4,220		206,019		210,239		-
Multifamily		1,329		192		210		1,731		339,522		341,253		-
HELOC		936		54		211		1,201		103,374		104,575
Other		23		4		-		27		14,463		14,490		-
Total	$	21,090	$	1,742	$	9,476	$	32,308	$	3,907,924	$	3,940,232	$	1,397


													90 days or
					90 Days or								Greater Past
	30-59 Days		60-89 Days		Greater Past		Total Past						Due and
December 31, 2024	Past Due		Past Due		Due		Due		Current		Total Loans		Accruing
Commercial	$	219	$	95	$	6,963	$	7,277	$	793,199	$	800,476	$	1,397
Leases		1,438		372		352		2,162		489,586		491,748		-
Commercial real estate – investor		2,021		402		-		2,423		1,076,406		1,078,829		-
Commercial real estate – owner occupied		1,123		2,479		43		3,645		679,638		683,283		-
Construction		-		-		5,799		5,799		195,917		201,716		-
Residential real estate – investor		763		-		439		1,202		48,396		49,598		-
Residential real estate – owner occupied		2,489		90		509		3,088		203,861		206,949		-
Multifamily		-		233		1,040		1,273		350,052		351,325		-
HELOC		109		74		202		385		103,003		103,388		39
Other		13		10		-		23		14,001		14,024		-
Total	$	8,175	$	3,755	$	15,347	$	27,277	$	3,954,059	$	3,981,336	$	1,436

The table presents all nonaccrual loans as of March 31, 2025, and December 31, 2024:


Nonaccrual loan detail	March 31, 2025		With no ACL		December 31, 2024		With no ACL
Commercial	$	11,078	$	4,320	$	5,591	$	497
Leases		848		848		523		523
Commercial real estate – investor		1,968		1,968		1,981		1,981
Commercial real estate – owner occupied		11,297		2,167		10,604		1,407
Construction		4,989		4,989		5,800		-
Residential real estate – investor		769		769		1,158		1,158
Residential real estate – owner occupied		1,563		1,563		1,653		1,653
Multifamily		332		332		1,165		1,165
HELOC		545		545		366		366
Other		5		5		10		10
Total	$	33,394	$	17,506	$	28,851	$	8,760

The Company recognized $39,000 of interest on nonaccrual loans during the three months ended March 31, 2025, and $34,000 of interest on nonaccrual loans during the three months ended March 31, 2024.

Credit Quality Indicators

The Company categorizes loans into credit risk categories based on current financial information, overall debt service coverage, comparison to industry averages, historical payment experience, and current economic trends. This analysis includes loans with outstanding balances or commitments greater than $50,000 and excludes homogeneous loans such as home equity lines of credit and residential mortgages. Loans with a classified risk rating are reviewed quarterly regardless of size or loan type. The Company uses the following definitions for classified risk ratings:

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 at some future date.

Substandard. Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. The substandard credit quality indicator includes both potential problem loans that are currently performing and nonperforming loans.

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.

Credits that are not covered by the definitions above are pass credits, which are not considered to be adversely rated.

Credit quality indicators by loan segment and loan origination date at March 31, 2025, were as follows:


	2025		2024		2023		2022		2021		Prior		Revolving Loans		Revolving Loans Converted To Term Loans		Total
Commercial
Pass	$	56,946	$	238,066	$	151,345	$	45,739	$	16,129	$	10,278	$	184,590	$	-	$	703,093
Special Mention		3,755		655		1,760		109		526		23		2,146		-		8,974
Substandard		-		-		-		4,077		71		-		16,659		-		20,807
Total commercial		60,701		238,721		153,105		49,925		16,726		10,301		203,395		-		732,874

Leases
Pass		54,802		226,657	$	138,383		57,077		20,569		6,326		-		-		503,814
Special Mention		-		-		-		793		-		-		-		-		793
Substandard		-		-		106		742		-		-		-		-		848
Total leases		54,802		226,657		138,489		58,612		20,569		6,326		-		-		505,455

Commercial real estate – investor
Pass		65,072		243,489		145,317		299,596		186,094		145,284		6,289		-		1,091,141
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		323		1,645		-		-		12,331		-		-		14,299
Total commercial real estate – investor		65,072		243,812		146,962		299,596		186,094		157,615		6,289		-		1,105,440

Commercial real estate – owner occupied
Pass		10,662		87,090		111,382		131,809		126,210		146,840		16,021		-		630,014
Special Mention		1,544		-		87		7,867		303		3,331		-		-		13,132
Substandard		-		-		131		1,167		10,652		14,868		-		-		26,818
Total commercial real estate – owner occupied		12,206		87,090		111,600		140,843		137,165		165,039		16,021		-		669,964

Construction
Pass		1,931		49,579		28,828		80,810		17,237		1,057		280		-		179,722
Special Mention		-		-		-		7,572		-		344		-		-		7,916
Substandard		-		-		-		18,201		-		-		-		-		18,201
Total construction		1,931		49,579		28,828		106,583		17,237		1,401		280		-		205,839

Residential real estate – investor
Pass		1,144		5,699		3,791		13,067		9,025		14,541		1,553		-		48,820
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		514		769		-		-		1,283
Total residential real estate – investor		1,144		5,699		3,791		13,067		9,539		15,310		1,553		-		50,103

Residential real estate – owner occupied
Pass		8,183		12,924		29,249		35,182		32,177		89,644		1,121		-		208,480
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		105		-		149		1,505		-		-		1,759
Total residential real estate – owner occupied		8,183		12,924		29,354		35,182		32,326		91,149		1,121		-		210,239

Multifamily
Pass		11,798		38,520		54,598		66,790		98,972		69,076		367		-		340,121
Special Mention		-		-		-		800		-		-		-		-		800
Substandard		-		-		-		122		-		210		-		-		332
Total multifamily		11,798		38,520		54,598		67,712		98,972		69,286		367		-		341,253

HELOC
Pass		665		2,574		2,424		1,947		364		4,927		90,988		-		103,889
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		243		443		-		686
Total HELOC		665		2,574		2,424		1,947		364		5,170		91,431		-		104,575

Other
Pass		1,880		5,195		1,409		1,258		474		81		4,183				14,480
Special Mention		-		-		-		-		-		-		-				-
Substandard		5		-		-		5		-		-		-				10
Total other		1,885		5,195		1,409		1,263		474		81		4,183		-		14,490

Total loans
Pass		213,083		909,793		666,726		733,275		507,251		488,054		305,392		-		3,823,574
Special Mention		5,299		655		1,847		17,141		829		3,698		2,146		-		31,615
Substandard		5		323		1,987		24,314		11,386		29,926		17,102		-		85,043
Total loans	$	218,387	$	910,771	$	670,560	$	774,730	$	519,466	$	521,678	$	324,640	$	-	$	3,940,232

Credit quality indicators by loan segment and loan origination date at December 31, 2024, were as follows:


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted To Term Loans		Total
Commercial
Pass	$	299,863	$	176,549	$	56,619	$	18,679	$	4,999	$	6,527	$	201,514	$	1,279	$	766,029
Special Mention		3,864		1,629		127		176		-		-		3,903		-		9,699
Substandard		-		14		4,169		77		-		-		19,102		-		23,362
Doubtful		-		-		-		1,386		-		-		-		-		1,386
Total commercial		303,727		178,192		60,915		20,318		4,999		6,527		224,519		1,279		800,476

Leases
Pass		239,664		151,372	$	66,379		24,546		6,145		2,298		-		-		490,404
Special Mention		-		-		821		-		-		-		-		-		821
Substandard		-		-		523		-		-		-		-		-		523
Total leases		239,664		151,372		67,723		24,546		6,145		2,298		-		-		491,748

Commercial real estate – investor
Pass		243,983		159,008		305,506		191,651		90,245		67,143		6,804		-		1,064,340
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		335		1,645		-		-		-		12,509		-		-		14,489
Total commercial real estate – investor		244,318		160,653		305,506		191,651		90,245		79,652		6,804		-		1,078,829

Commercial real estate – owner occupied
Pass		91,012		114,255		133,488		121,652		77,919		82,820		14,284		-		635,430
Special Mention		-		1,162		7,908		7,500		3,033		631		-		-		20,234
Substandard		-		125		1,168		11,241		9,897		5,188		-		-		27,619
Total commercial real estate – owner occupied		91,012		115,542		142,564		140,393		90,849		88,639		14,284		-		683,283

Construction
Pass		44,699		27,928		83,222		17,747		82		1,081		468		-		175,227
Special Mention		-		-		6,794		-		-		344		-		-		7,138
Substandard		-		-		19,351		-		-		-		-		-		19,351
Total construction		44,699		27,928		109,367		17,747		82		1,425		468		-		201,716

Residential real estate – investor
Pass		5,595		3,833		13,366		8,060		5,693		9,813		1,548		-		47,908
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		375		532		-		783		-		-		1,690
Total residential real estate – investor		5,595		3,833		13,741		8,592		5,693		10,596		1,548		-		49,598

Residential real estate – owner occupied
Pass		11,609		29,670		35,786		32,760		22,996		71,507		770		-		205,098
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		151		-		1,700		-		-		1,851
Total residential real estate – owner occupied		11,609		29,670		35,786		32,911		22,996		73,207		770		-		206,949

Multifamily
Pass		39,133		68,781		68,032		100,049		29,060		44,735		370		-		350,160
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		962		-		203		-		-		-		1,165
Total multifamily		39,133		68,781		68,994		100,049		29,263		44,735		370		-		351,325

HELOC
Pass		2,602		2,561		2,118		383		1,383		3,752		90,042		-		102,841
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		39		214		294		-		547
Total HELOC		2,602		2,561		2,118		383		1,422		3,966		90,336		-		103,388

Other
Pass		6,521		1,559		1,438		639		92		7		3,758				14,014
Special Mention		-		-		-		-		-		-		-				-
Substandard		-		5		5		-		-		-		-				10
Total other		6,521		1,564		1,443		639		92		7		3,758		-		14,024

Total loans
Pass		984,681		735,516		765,954		516,166		238,614		289,683		319,558		1,279		3,851,451
Special Mention		3,864		2,791		15,650		7,676		3,033		975		3,903		-		37,892
Substandard		335		1,789		26,553		12,001		10,139		20,394		19,396		-		90,607
Doubtful		-		-		-		1,386		-		-		-		-		1,386
Total loans	$	988,880	$	740,096	$	808,157	$	537,229	$	251,786	$	311,052	$	342,857	$	1,279	$	3,981,336

The gross charge-offs activity by loan type and year of origination for the three months ended March 31, 2025 and 2024, were as follows:


Three months ended March 31, 2025	2025		2024		2023		2022		2021		Prior		Total
Commercial	$	-	$	-	$	2,050	$	-	$	1,391	$	5	$	3,446
Leases		-		-		85		22		-		-		107
Commercial real estate – investor		-		-		-		-		-		-		-
Commercial real estate – owner occupied		-				-		-		-		47		47
Construction		-		-		-		821		-		-		821
Residential real estate – investor		-		-		-		-		-		-		-
Residential real estate – owner occupied		-		-		-		-		-		-		-
Multifamily		-		-		-		-		-		-		-
HELOC		-		-		-		-		-		-		-
Other		-		-		5		-		-		103		108
Total	$	-	$	-	$	2,140	$	843	$	1,391	$	155	$	4,529


Three months ended March 31, 2024	2024		2023		2022		2021		2020		Prior		Total
Commercial	$	-	$	-	$	-	$	-	$	-	$	15	$	15
Leases		-		-		-		-		-		-		-
Commercial real estate – investor		-		-		-		-		16		-		16
Commercial real estate – owner occupied		-				-		3,853		-		34		3,887
Construction		-		-		-		-		-		-		-
Residential real estate – investor		-		-		-		-		-		-		-
Residential real estate – owner occupied		-		-		-		-		-		-		-
Multifamily		-		-		-		-		-		-		-
HELOC		-		-		-		-		-		-		-
Other		-		-		-		-		-		70		70
Total	$	-	$	-	$	-	$	3,853	$	16	$	119	$	3,988

The Company had $463,000 and $469,000 in residential real estate loans in the process of foreclosure as of March 31, 2025, and December 31, 2024, respectively.

There were thirteen loans modified during the three-month period ending March 31, 2025, totaling $46.7 million in aggregate, which were experiencing financial difficulty. Of the thirteen loans modified in the first three months of 2025, twelve loans had also been modified in prior periods. There were six loans modified during the three-month period ending March 31, 2024, totaling $18.6 million in aggregate, which were experiencing financial difficulty. There were no modified loans that experienced a payment default in the 12 months subsequent to their modification during the 12 months ending March 31, 2025 and 2024.

The following tables present the amortized costs basis of loans at March 31, 2025, and March 31, 2024, that were both experiencing financial difficulty and modified during the three-months ended March 31, 2025, and March 31, 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.


Three months ended March 31, 2025	Term Extension		Combination - Term Extension, Interest Rate Modification, Payment Modification, and Principal Reduction		Combination - Term Extension and Interest Rate Modification		Combination - Term Extension and Payment Modification ¹		Total Loans Modified		% of Total Loan Segment Modified to Total Loan Segment
Commercial	$	312	$	-	$	-	$	6,547	$	6,859	0.9%
Commercial real estate – investor		-		-		12,331		-		12,331	1.1%
Commercial real estate – owner occupied		13,102		-		-		1,167		14,269	2.1%
Construction		13,212		-		-		-		13,212	6.4%
Total	$	26,626	$	-	$	12,331	$	7,714	$	46,671	1.2%

¹ Payment modifications are either contractual delays in payment or a modificationof the payment amount.


Three months ended March 31, 2024	Term Extension		Combination - Term Extension, Interest Rate Modification, Payment Modification, and Principal Reduction		Combination - Term Extension and Interest Rate Modification		Combination - Term Extension and Payment Modification ¹		Total Loans Modified		% of Total Loan Segment Modified to Total Loan Segment
Commercial	$	247	$	-	$	-	$	-	$	247	0.0%
Commercial real estate – investor		-		-		-		1,958		1,958	0.2%
Commercial real estate – owner occupied		12,244		-		3,309		854		16,407	2.1%
Construction		-		-		-		-		-	0.0%
Total	$	12,491	$	-	$	3,309	$	2,812	$	18,612	0.5%

¹ Payment modifications are either contractual delays in payment or a modificationof the payment amount.

The Company closely monitors the performance of loan modifications to borrowers experiencing financial difficulty. The following tables present the performance of loans that have been modified in the last twelve months as of March 31, 2025, and March 31, 2024.


March 31, 2025	30-59 days past due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Modifications
Commercial	$	-	$	-	$	-	$	-	$	9,950	$	9,950
Commercial real estate – investor		-		-		-		-		12,331		12,331
Commercial real estate – owner occupied		-		-		-		-		17,592		17,592
Construction		-		-		-		-		13,212		13,212
Residential real estate – owner occupied		-		-		-		-		-		-
Multifamily		-		-		-		-		1,191		1,191
HELOC		-		-		-		-		-		-
Total	$	-	$	-	$	-	$	-	$	54,276	$	54,276


March 31, 2024	30-59 days past due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Modifications
Commercial	$	-	$	-	$	838	$	838	$	3,653	$	4,491
Commercial real estate – investor		-		-		-		-		22,106		22,106
Commercial real estate – owner occupied		-		3,443		12,639		16,082		16,407		32,489
Construction		-		-		-		-		-		-
Residential real estate – owner occupied		-		-		-		-		116		116
Multifamily		-		-		-		-		235		235
HELOC		-		-		-		-		88		88
Total	$	-	$	3,443	$	13,477	$	16,920	$	42,605	$	59,525

The following tables summarize the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three-months ended March 31, 2025, and March 31, 2024. The Company had thirteen loans that had a payment modification as of March 31, 2025. One had an increase of monthly payment until maturity, one relationship, on four loans between commercial and commercial real estate - owner occupied, had a payment deferment of two months on each loan; the financial impact of these modifications to the Company is immaterial. As of March 31, 2024, there were two loans that had a payment modification. One changed to a single payment at maturity and the other had a reduction of monthly payment until maturity.


Three months ended March 31, 2025	Weighted-Average Term Extension (In Months)		Weighted-Average Interest Rate Change			Weighted-Average Delay of Payment (In Months)
Commercial		3.00		-	%		2.00
Commercial real estate – investor		9.00		(1.00)			-
Commercial real estate – owner occupied		3.44		-			2.00
Construction		9.00		-			-
Total		6.42		(1.00)	%		2.00


Three months ended March 31, 2024	Weighted-Average Term Extension (In Months)		Weighted-Average Interest Rate Change			Weighted-Average Delay of Payment (In Months)
Commercial		4.00		-	%		-
Commercial real estate – investor		24.00		-			-
Commercial real estate – owner occupied		5.24		0.15			-
Construction		-		-			-
Total		7.20		0.15	%		-