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LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES | LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES Major categories of loans are summarized as follows:
(dollars in thousands) | September 30, 2024 |  | December 31, 2023
Commercial and industrial | $ | 395,598 |  |  | $ | 427,800 |
Commercial real estate - owner occupied | 288,838 |  |  | 295,842 |
Commercial real estate - non-owner occupied | 889,188 |  |  | 880,681 |
Construction and land development | 359,151 |  |  | 363,983 |
Multi-family | 432,712 |  |  | 417,923 |
One-to-four family residential | 472,040 |  |  | 491,508 |
Agricultural and farmland | 297,102 |  |  | 287,294 |
Municipal, consumer, and other | 235,201 |  |  | 239,386 |
Loans, before allowance for credit losses | 3,369,830 |  |  | 3,404,417 |
Allowance for credit losses | (40,966) |  |  | (40,048) |
Loans, net of allowance for credit losses | $ | 3,328,864 |  |  | $ | 3,364,369 |
Allowance for Credit Losses Management estimates the allowance for credit losses using relevant available information from internal and external sources, relating to past events, current conditions, and reasonable and supportable forecasts. The discounted cash flow method is used to estimate expected credit losses for all loan categories, except for consumer loans where the weighted average remaining maturity method is utilized. At September 30, 2024, the economic forecast used by management anticipates an economic slowdown, but not a recession, over the next 4 quarters considered in the forecast period, with the unemployment rate increasing and GDP growth slowing and then increasing modestly. After the forecast period, the Company reverts to long-term averages over a 4-quarter reversion period. Additionally, management has made qualitative adjustments to the loss estimates to reflect other factors that influence credit losses. The following tables detail activity in the allowance for credit losses:
| Three Months Ended September 30, 2024
(dollars in thousands) | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-owner Occupied |  | Construction and Land Development |  | Multi-Family |  | One-to-four Family Residential |  | Agricultural and Farmland |  | Municipal, Consumer, and Other |  | Total
Beginning balance | $ | 4,761 |  |  | $ | 2,191 |  |  | $ | 9,816 |  |  | $ | 6,155 |  |  | $ | 3,712 |  |  | $ | 4,785 |  |  | $ | 1,059 |  |  | $ | 8,327 |  |  | $ | 40,806 |
Provision for credit losses | 980 |  |  | 36 |  |  | (598) |  |  | 423 |  |  | 78 |  |  | 26 |  |  | 226 |  |  | (425) |  |  | 746 |
Charge-offs | (734) |  |  | (6) |  |  | — |  |  | — |  |  | — |  |  | (125) |  |  | — |  |  | (236) |  |  | (1,101) |
Recoveries | 27 |  |  | 10 |  |  | 329 |  |  | — |  |  | — |  |  | 44 |  |  | 2 |  |  | 103 |  |  | 515 |
Ending balance | $ | 5,034 |  |  | $ | 2,231 |  |  | $ | 9,547 |  |  | $ | 6,578 |  |  | $ | 3,790 |  |  | $ | 4,730 |  |  | $ | 1,287 |  |  | $ | 7,769 |  |  | $ | 40,966 |
| Three Months Ended September 30, 2023
(dollars in thousands) | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-owner Occupied |  | Construction and Land Development |  | Multi-Family |  | One-to-four Family Residential |  | Agricultural and Farmland |  | Municipal, Consumer, and Other |  | Total
Beginning balance | $ | 3,735 |  |  | $ | 2,362 |  |  | $ | 7,538 |  |  | $ | 5,834 |  |  | $ | 2,603 |  |  | $ | 4,077 |  |  | $ | 2,607 |  |  | $ | 9,058 |  |  | $ | 37,814 |
Provision for credit losses | 515 |  |  | (108) |  |  | 248 |  |  | 1,004 |  |  | (348) |  |  | (21) |  |  | (337) |  |  | 30 |  |  | 983 |
Charge-offs | (15) |  |  | (2) |  |  | (171) |  |  | — |  |  | — |  |  | (8) |  |  | — |  |  | (216) |  |  | (412) |
Recoveries | 14 |  |  | 2 |  |  | 15 |  |  | 44 |  |  | 280 |  |  | 40 |  |  | 2 |  |  | 81 |  |  | 478 |
Ending balance | $ | 4,249 |  |  | $ | 2,254 |  |  | $ | 7,630 |  |  | $ | 6,882 |  |  | $ | 2,535 |  |  | $ | 4,088 |  |  | $ | 2,272 |  |  | $ | 8,953 |  |  | $ | 38,863 |
| Nine Months Ended September 30, 2024
(dollars in thousands) | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-owner Occupied |  | Construction and Land Development |  | Multi-Family |  | One-to-four Family Residential |  | Agricultural and Farmland |  | Municipal, Consumer, and Other |  | Total
Beginning balance | $ | 4,980 |  |  | $ | 2,272 |  |  | $ | 7,714 |  |  | $ | 5,998 |  |  | $ | 3,837 |  |  | $ | 5,204 |  |  | $ | 975 |  |  | $ | 9,068 |  |  | $ | 40,048 |
Provision for credit losses | 1,219 |  |  | (49) |  |  | 1,247 |  |  | 578 |  |  | 141 |  |  | (470) |  |  | 302 |  |  | (985) |  |  | 1,983 |
Charge-offs | (1,242) |  |  | (6) |  |  | — |  |  | — |  |  | (188) |  |  | (200) |  |  | — |  |  | (562) |  |  | (2,198) |
Recoveries | 77 |  |  | 14 |  |  | 586 |  |  | 2 |  |  | — |  |  | 196 |  |  | 10 |  |  | 248 |  |  | 1,133 |
Ending balance | $ | 5,034 |  |  | $ | 2,231 |  |  | $ | 9,547 |  |  | $ | 6,578 |  |  | $ | 3,790 |  |  | $ | 4,730 |  |  | $ | 1,287 |  |  | $ | 7,769 |  |  | $ | 40,966 |
| Nine Months Ended September 30, 2023
(dollars in thousands) | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-owner Occupied |  | Construction and Land Development |  | Multi-Family |  | One-to-four Family Residential |  | Agricultural and Farmland |  | Municipal, Consumer, and Other |  | Total
Beginning balance | $ | 3,279 |  |  | $ | 1,193 |  |  | $ | 6,721 |  |  | $ | 4,223 |  |  | $ | 1,472 |  |  | $ | 1,759 |  |  | $ | 796 |  |  | $ | 5,890 |  |  | $ | 25,333 |
Adoption of ASC 326 | (822) |  |  | 587 |  |  | 501 |  |  | 1,969 |  |  | 85 |  |  | 797 |  |  | 1,567 |  |  | 2,299 |  |  | 6,983 |
PCD allowance established in acquisition | 69 |  |  | 127 |  |  | 239 |  |  | 240 |  |  | 68 |  |  | 492 |  |  | 5 |  |  | 7 |  |  | 1,247 |
Provision for credit losses | 1,693 |  |  | 336 |  |  | 87 |  |  | 398 |  |  | 630 |  |  | 939 |  |  | (100) |  |  | 1,021 |  |  | 5,004 |
Charge-offs | (15) |  |  | (5) |  |  | (171) |  |  | — |  |  | — |  |  | (34) |  |  | — |  |  | (508) |  |  | (733) |
Recoveries | 45 |  |  | 16 |  |  | 253 |  |  | 52 |  |  | 280 |  |  | 135 |  |  | 4 |  |  | 244 |  |  | 1,029 |
Ending balance | $ | 4,249 |  |  | $ | 2,254 |  |  | $ | 7,630 |  |  | $ | 6,882 |  |  | $ | 2,535 |  |  | $ | 4,088 |  |  | $ | 2,272 |  |  | $ | 8,953 |  |  | $ | 38,863 |
Gross charge-offs, further sorted by origination year, were as follows during the three months ended September 30, 2024 and 2023.
| Gross Charge-Offs for the Three Months Ended September 30, 2024
| Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
(dollars in thousands) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Commercial and industrial | $ | — |  |  | $ | 734 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 734 |
Commercial real estate - owner occupied | 6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |
Commercial real estate - non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction and land development | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
One-to-four family residential | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 124 |  |  | — |  |  | — |  |  | 125 |
Agricultural and farmland | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal, consumer, and other | 154 |  |  | 3 |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | 74 |  |  | — |  |  | 236 |
Total | $ | 160 |  |  | $ | 737 |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | 124 |  |  | $ | 74 |  |  | $ | — |  |  | $ | 1,101 |
| Gross Charge-Offs for the Three Months Ended September 30, 2023
| Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
(dollars in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
Commercial and industrial | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |  | $ | — |  |  | $ | 15 |
Commercial real estate - owner occupied | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Commercial real estate - non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 171 |  |  | — |  |  | 171 |
Construction and land development | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
One-to-four family residential | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | — |  |  | 8 |
Agricultural and farmland | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal, consumer, and other | 141 |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 66 |  |  | — |  |  | 216 |
Total | $ | 141 |  |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | 252 |  |  | $ | — |  |  | $ | 412 |
Gross charge-offs, further sorted by origination year, were as follows during the nine months ended September 30, 2024 and 2023.
| Gross Charge-Offs for the Nine Months Ended September 30, 2024
| Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
(dollars in thousands) | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Commercial and industrial | $ | — |  |  | $ | 1,063 |  |  | $ | 75 |  |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | 93 |  |  | $ | — |  |  | $ | 1,242 |
Commercial real estate - owner occupied | 6 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |
Commercial real estate - non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction and land development | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family | — |  |  | — |  |  | — |  |  | 188 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 188 |
One-to-four family residential | — |  |  | — |  |  | 8 |  |  | 13 |  |  | 4 |  |  | 131 |  |  | 44 |  |  | — |  |  | 200 |
Agricultural and farmland | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal, consumer, and other | 282 |  |  | 59 |  |  | 11 |  |  | — |  |  | — |  |  | — |  |  | 210 |  |  | — |  |  | 562 |
Total | $ | 288 |  |  | $ | 1,122 |  |  | $ | 94 |  |  | $ | 201 |  |  | $ | 4 |  |  | $ | 142 |  |  | $ | 347 |  |  | $ | — |  |  | $ | 2,198 |
| Gross Charge-Offs for the Nine Months Ended September 30, 2023
| Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
(dollars in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
Commercial and industrial | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 15 |  |  | $ | — |  |  | $ | 15 |
Commercial real estate - owner occupied | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |
Commercial real estate - non-owner occupied | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 171 |  |  | — |  |  | 171 |
Construction and land development | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Multi-family | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
One-to-four family residential | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 33 |  |  | — |  |  | — |  |  | 34 |
Agricultural and farmland | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal, consumer, and other | 276 |  |  | 83 |  |  | — |  |  | 9 |  |  | — |  |  | — |  |  | 140 |  |  | — |  |  | 508 |
Total | $ | 276 |  |  | $ | 88 |  |  | $ | — |  |  | $ | 9 |  |  | $ | 1 |  |  | $ | 33 |  |  | $ | 326 |  |  | $ | — |  |  | $ | 733 |
The following tables present loans and the related allowance for credit losses by category:
|  | September 30, 2024
(dollars in thousands) |  | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-owner Occupied |  | Construction and Land Development |  | Multi-Family |  | One-to-four Family Residential |  | Agricultural and Farmland |  | Municipal, Consumer, and Other |  | Total
Loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 394,583 |  |  | $ | 288,838 |  |  | $ | 874,417 |  |  | $ | 358,935 |  |  | $ | 432,712 |  |  | $ | 466,918 |  |  | $ | 297,102 |  |  | $ | 224,858 |  |  | $ | 3,338,363 |
Individually evaluated for impairment |  | 1,015 |  |  | — |  |  | 14,771 |  |  | 216 |  |  | — |  |  | 5,122 |  |  | — |  |  | 10,343 |  |  | 31,467 |
Total |  | $ | 395,598 |  |  | $ | 288,838 |  |  | $ | 889,188 |  |  | $ | 359,151 |  |  | $ | 432,712 |  |  | $ | 472,040 |  |  | $ | 297,102 |  |  | $ | 235,201 |  |  | $ | 3,369,830 |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 4,840 |  |  | $ | 2,231 |  |  | $ | 9,004 |  |  | $ | 6,578 |  |  | $ | 3,790 |  |  | $ | 4,654 |  |  | $ | 1,287 |  |  | $ | 5,359 |  |  | $ | 37,743 |
Individually evaluated for impairment |  | 194 |  |  | — |  |  | 543 |  |  | — |  |  | — |  |  | 76 |  |  | — |  |  | 2,410 |  |  | 3,223 |
Total |  | $ | 5,034 |  |  | $ | 2,231 |  |  | $ | 9,547 |  |  | $ | 6,578 |  |  | $ | 3,790 |  |  | $ | 4,730 |  |  | $ | 1,287 |  |  | $ | 7,769 |  |  | $ | 40,966 |
|  | December 31, 2023
(dollars in thousands) |  | Commercial and Industrial |  | Commercial Real Estate Owner Occupied |  | Commercial Real Estate Non-owner Occupied |  | Construction and Land Development |  | Multi-Family |  | One-to-four Family Residential |  | Agricultural and Farmland |  | Municipal, Consumer, and Other |  | Total
Loan balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 427,528 |  |  | $ | 295,672 |  |  | $ | 865,394 |  |  | $ | 363,767 |  |  | $ | 417,608 |  |  | $ | 486,049 |  |  | $ | 287,150 |  |  | $ | 224,345 |  |  | $ | 3,367,513 |
Individually evaluated for impairment |  | 272 |  |  | 170 |  |  | 15,287 |  |  | 216 |  |  | 315 |  |  | 5,459 |  |  | 144 |  |  | 15,041 |  |  | 36,904 |
Total |  | $ | 427,800 |  |  | $ | 295,842 |  |  | $ | 880,681 |  |  | $ | 363,983 |  |  | $ | 417,923 |  |  | $ | 491,508 |  |  | $ | 287,294 |  |  | $ | 239,386 |  |  | $ | 3,404,417 |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Collectively evaluated for impairment |  | $ | 4,960 |  |  | $ | 2,272 |  |  | $ | 6,693 |  |  | $ | 5,998 |  |  | $ | 3,837 |  |  | $ | 4,957 |  |  | $ | 975 |  |  | $ | 6,137 |  |  | $ | 35,829 |
Individually evaluated for impairment |  | 20 |  |  | — |  |  | 1,021 |  |  | — |  |  | — |  |  | 247 |  |  | — |  |  | 2,931 |  |  | 4,219 |
Total |  | $ | 4,980 |  |  | $ | 2,272 |  |  | $ | 7,714 |  |  | $ | 5,998 |  |  | $ | 3,837 |  |  | $ | 5,204 |  |  | $ | 975 |  |  | $ | 9,068 |  |  | $ | 40,048 |
The following tables present collateral dependent loans, by the primary collateral type, which are individually evaluated to determine expected credit losses, and the related allowance for credit losses allocated to these loans:
|  | September 30, 2024
|  | Amortized Cost |  | Allowance for Credit Losses
|  | Primary Collateral Type |  |  |
(dollars in thousands) |  | Real Estate |  | Vehicles |  | Other |  | Total |
Commercial and industrial |  | $ | — |  |  | $ | 973 |  |  | $ | 42 |  |  | $ | 1,015 |  |  | $ | 194 |
Commercial real estate - owner occupied |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial real estate - non-owner occupied |  | 14,771 |  |  | — |  |  | — |  |  | 14,771 |  |  | 543 |
Construction and land development |  | 216 |  |  | — |  |  | — |  |  | 216 |  |  | — |
Multi-family |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
One-to-four family residential |  | 5,122 |  |  | — |  |  | — |  |  | 5,122 |  |  | 76 |
Agricultural and farmland |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal, consumer, and other |  | 10,329 |  |  | — |  |  | 14 |  |  | 10,343 |  |  | 2,410 |
Total |  | $ | 30,438 |  |  | $ | 973 |  |  | $ | 56 |  |  | $ | 31,467 |  |  | $ | 3,223 |
|  | December 31, 2023
|  | Amortized Cost |  | Allowance for Credit Losses
|  | Primary Collateral Type |  |  |
(dollars in thousands) |  | Real Estate |  | Vehicles |  | Other |  | Total |
Commercial and industrial |  | $ | — |  |  | $ | 37 |  |  | $ | 235 |  |  | $ | 272 |  |  | $ | 20 |
Commercial real estate - owner occupied |  | 170 |  |  | — |  |  | — |  |  | 170 |  |  | — |
Commercial real estate - non-owner occupied |  | 15,287 |  |  | — |  |  | — |  |  | 15,287 |  |  | 1,021 |
Construction and land development |  | 216 |  |  | — |  |  | — |  |  | 216 |  |  | — |
Multi-family |  | 315 |  |  | — |  |  | — |  |  | 315 |  |  | — |
One-to-four family residential |  | 5,459 |  |  | — |  |  | — |  |  | 5,459 |  |  | 247 |
Agricultural and farmland |  | 144 |  |  | — |  |  | — |  |  | 144 |  |  | — |
Municipal, consumer, and other |  | 14,978 |  |  | 39 |  |  | 24 |  |  | 15,041 |  |  | 2,931 |
Total |  | $ | 36,569 |  |  | $ | 76 |  |  | $ | 259 |  |  | $ | 36,904 |  |  | $ | 4,219 |
Accrued interest on loans is excluded from the estimate of credit losses and totaled $18.9 million and $18.4 million as of September 30, 2024 and December 31, 2023, respectively. Past Due and Nonaccrual Status Past due status is based on the contractual terms of the loan. Typically, loans are placed on nonaccrual when they reach 90 days past due, or when, in management’s opinion, there is reasonable doubt regarding the collection of the amounts due through the normal means of the borrower. Interest accrued and unpaid at the time a loan is placed on nonaccrual status is reversed from interest income. Interest payments received on nonaccrual loans are recognized in accordance with our significant accounting policies. Once a loan is placed on nonaccrual status, the borrower must generally demonstrate at least six months of payment performance and we must believe that all remaining principal and interest is fully collectible, before the loan is eligible to return to accrual status. The following tables present loans by category based on current payment and accrual status:
|  | September 30, 2024
|  | Accruing Interest |  |  |  |
(dollars in thousands) |  | Current |  | 30 - 89 Days Past Due |  | 90+ Days Past Due |  | Nonaccrual |  | Total Loans
Commercial and industrial |  | $ | 393,371 |  |  | $ | 1,212 |  |  | $ | — |  |  | $ | 1,015 |  |  | $ | 395,598 |
Commercial real estate - owner occupied |  | 288,838 |  |  | — |  |  | — |  |  | — |  |  | 288,838 |
Commercial real estate - non-owner occupied |  | 887,355 |  |  | — |  |  | — |  |  | 1,833 |  |  | 889,188 |
Construction and land development |  | 358,935 |  |  | — |  |  | — |  |  | 216 |  |  | 359,151 |
Multi-family |  | 432,712 |  |  | — |  |  | — |  |  | — |  |  | 432,712 |
One-to-four family residential |  | 466,096 |  |  | 822 |  |  | — |  |  | 5,122 |  |  | 472,040 |
Agricultural and farmland |  | 296,952 |  |  | 150 |  |  | — |  |  | — |  |  | 297,102 |
Municipal, consumer, and other |  | 234,942 |  |  | 240 |  |  | 5 |  |  | 14 |  |  | 235,201 |
Total |  | $ | 3,359,201 |  |  | $ | 2,424 |  |  | $ | 5 |  |  | $ | 8,200 |  |  | $ | 3,369,830 |
|  | December 31, 2023
|  | Accruing Interest |  |  |  |
(dollars in thousands) |  | Current |  | 30 - 89 Days Past Due |  | 90+ Days Past Due |  | Nonaccrual |  | Total Loans
Commercial and industrial |  | $ | 427,300 |  |  | $ | 228 |  |  | $ | — |  |  | $ | 272 |  |  | $ | 427,800 |
Commercial real estate - owner occupied |  | 295,672 |  |  | — |  |  | — |  |  | 170 |  |  | 295,842 |
Commercial real estate - non-owner occupied |  | 878,591 |  |  | 255 |  |  | — |  |  | 1,835 |  |  | 880,681 |
Construction and land development |  | 363,735 |  |  | 32 |  |  | — |  |  | 216 |  |  | 363,983 |
Multi-family |  | 417,597 |  |  | 11 |  |  | — |  |  | 315 |  |  | 417,923 |
One-to-four family residential |  | 484,969 |  |  | 1,735 |  |  | — |  |  | 4,804 |  |  | 491,508 |
Agricultural and farmland |  | 286,820 |  |  | 330 |  |  | — |  |  | 144 |  |  | 287,294 |
Municipal, consumer, and other |  | 239,033 |  |  | 252 |  |  | 37 |  |  | 64 |  |  | 239,386 |
Total |  | $ | 3,393,717 |  |  | $ | 2,843 |  |  | $ | 37 |  |  | $ | 7,820 |  |  | $ | 3,404,417 |
The following tables present nonaccrual loans with and without a related allowance for credit losses:
|  | September 30, 2024
(dollars in thousands) |  | Nonaccrual With Allowance for Credit Losses |  | Nonaccrual With No Allowance for Credit Losses |  | Total Nonaccrual
Commercial and industrial |  | $ | 522 |  |  | $ | 493 |  |  | $ | 1,015 |
Commercial real estate - owner occupied |  | — |  |  | — |  |  | — |
Commercial real estate - non-owner occupied |  | — |  |  | 1,833 |  |  | 1,833 |
Construction and land development |  | 216 |  |  | — |  |  | 216 |
Multi-family |  | — |  |  | — |  |  | — |
One-to-four family residential |  | 350 |  |  | 4,772 |  |  | 5,122 |
Agricultural and farmland |  | — |  |  | — |  |  | — |
Municipal, consumer, and other |  | — |  |  | 14 |  |  | 14 |
Total |  | $ | 1,088 |  |  | $ | 7,112 |  |  | $ | 8,200 |
|  | December 31, 2023
(dollars in thousands) |  | Nonaccrual With Allowance for Credit Losses |  | Nonaccrual With No Allowance for Credit Losses |  | Total Nonaccrual
Commercial and industrial |  | $ | 120 |  |  | $ | 152 |  |  | $ | 272 |
Commercial real estate - owner occupied |  | — |  |  | 170 |  |  | 170 |
Commercial real estate - non-owner occupied |  | 188 |  |  | 1,647 |  |  | 1,835 |
Construction and land development |  | 216 |  |  | — |  |  | 216 |
Multi-family |  | — |  |  | 315 |  |  | 315 |
One-to-four family residential |  | 14 |  |  | 4,790 |  |  | 4,804 |
Agricultural and farmland |  | — |  |  | 144 |  |  | 144 |
Municipal, consumer, and other |  | — |  |  | 64 |  |  | 64 |
Total |  | $ | 538 |  |  | $ | 7,282 |  |  | $ | 7,820 |
Credit Quality Indicators In June 2024, the Company updated its risk rating categories to add a special mention category to provide another level of granularity in distinguishing risk levels of loans. As of June 30, 2024, $19.5 million of the special mention loans would have been considered pass-watch and $10.6 million would have been considered substandard under the previous risk rating categories. The Company assigns a risk rating to all loans and periodically performs detailed internal reviews of all such loans that are part of relationships with over $750 thousand in total exposure to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to review by the Company’s regulators, external loan review, and internal loan review. During the internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which the borrowers operate and the fair values of collateral securing the loans. The risk rating is reviewed annually, at a minimum, and on an as needed basis depending on the specific circumstances of the loan. These credit quality indicators are used to assign a risk rating to each individual loan. Risk ratings are grouped into the following major categories: Pass – a pass loan is a credit with no existing or known potential weaknesses deserving of management’s close attention. Pass-Watch – a pass-watch loan is still considered a "pass" credit and is not a classified or criticized asset, but is a reflection of a borrower who exhibits credit weaknesses or downward trends warranting close attention and increased monitoring. These potential weaknesses may result in deterioration of the repayment prospects for the loan. No loss of principal or interest is expected, and the borrower does not pose sufficient risk to warrant a special mention, substandard, or doubtful classification. Special Mention – a special mention loan 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 assets or in the institution's credit position at some future date. Special mention assets are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. Substandard – a substandard loan is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Assets so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized as probable that the borrower will not pay principal and interest in accordance with the contractual terms. Doubtful – a doubtful loan has all the weaknesses inherent in one 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. There were no loans classified as Doubtful as of September 30, 2024 and December 31, 2023. The following tables present loans by category based on their assigned risk ratings determined by management:
|  | September 30, 2024
(dollars in thousands) |  | Pass |  | Pass-Watch |  | Special Mention |  | Substandard |  | Total
Commercial and industrial |  | $ | 381,336 |  |  | $ | 7,522 |  |  | $ | 1,198 |  |  | $ | 5,542 |  |  | $ | 395,598 |
Commercial real estate - owner occupied |  | 266,404 |  |  | 13,291 |  |  | 2,112 |  |  | 7,031 |  |  | 288,838 |
Commercial real estate - non-owner occupied |  | 814,729 |  |  | 36,567 |  |  | — |  |  | 37,892 |  |  | 889,188 |
Construction and land development |  | 335,413 |  |  | 22,993 |  |  | — |  |  | 745 |  |  | 359,151 |
Multi-family |  | 413,055 |  |  | 3,875 |  |  | 15,782 |  |  | — |  |  | 432,712 |
One-to-four family residential |  | 455,867 |  |  | 6,684 |  |  | 720 |  |  | 8,769 |  |  | 472,040 |
Agricultural and farmland |  | 271,779 |  |  | 17,968 |  |  | 3,634 |  |  | 3,721 |  |  | 297,102 |
Municipal, consumer, and other |  | 218,851 |  |  | 843 |  |  | 4,186 |  |  | 11,321 |  |  | 235,201 |
Total |  | $ | 3,157,434 |  |  | $ | 109,743 |  |  | $ | 27,632 |  |  | $ | 75,021 |  |  | $ | 3,369,830 |
|  | December 31, 2023
(dollars in thousands) |  | Pass |  | Pass-Watch |  | Substandard |  | Total
Commercial and industrial |  | $ | 419,494 |  |  | $ | 7,128 |  |  | $ | 1,178 |  |  | $ | 427,800 |
Commercial real estate - owner occupied |  | 275,649 |  |  | 14,072 |  |  | 6,121 |  |  | 295,842 |
Commercial real estate - non-owner occupied |  | 822,012 |  |  | 33,283 |  |  | 25,386 |  |  | 880,681 |
Construction and land development |  | 351,087 |  |  | 12,604 |  |  | 292 |  |  | 363,983 |
Multi-family |  | 397,951 |  |  | 19,656 |  |  | 316 |  |  | 417,923 |
One-to-four family residential |  | 472,355 |  |  | 6,671 |  |  | 12,482 |  |  | 491,508 |
Agricultural and farmland |  | 280,867 |  |  | 3,071 |  |  | 3,356 |  |  | 287,294 |
Municipal, consumer, and other |  | 222,474 |  |  | 1,721 |  |  | 15,191 |  |  | 239,386 |
Total |  | $ | 3,241,889 |  |  | $ | 98,206 |  |  | $ | 64,322 |  |  | $ | 3,404,417 |
Risk ratings of loans, further sorted by origination year, are as follows as of September 30, 2024:
(dollars in thousands) |  | Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 33,752 |  |  | $ | 51,453 |  |  | $ | 51,936 |  |  | $ | 13,003 |  |  | $ | 19,879 |  |  | $ | 37,876 |  |  | $ | 170,093 |  |  | $ | 3,344 |  |  | $ | 381,336 |
Pass-Watch |  | 680 |  |  | 1,470 |  |  | 257 |  |  | 1,189 |  |  | 85 |  |  | 2,459 |  |  | 1,183 |  |  | 199 |  |  | 7,522 |
Special Mention |  | — |  |  | 289 |  |  | 301 |  |  | 182 |  |  | — |  |  | — |  |  | 426 |  |  | — |  |  | 1,198 |
Substandard |  | 37 |  |  | 1,994 |  |  | 1,083 |  |  | 772 |  |  | — |  |  | — |  |  | 812 |  |  | 844 |  |  | 5,542 |
Total |  | $ | 34,469 |  |  | $ | 55,206 |  |  | $ | 53,577 |  |  | $ | 15,146 |  |  | $ | 19,964 |  |  | $ | 40,335 |  |  | $ | 172,514 |  |  | $ | 4,387 |  |  | $ | 395,598 |
Commercial real estate - owner occupied
Pass |  | $ | 29,821 |  |  | $ | 25,311 |  |  | $ | 60,189 |  |  | $ | 45,088 |  |  | $ | 41,576 |  |  | $ | 47,197 |  |  | $ | 17,040 |  |  | $ | 182 |  |  | $ | 266,404 |
Pass-Watch |  | 4,197 |  |  | 476 |  |  | 2,231 |  |  | 4,473 |  |  | 547 |  |  | 1,367 |  |  | — |  |  | — |  |  | 13,291 |
Special Mention |  | 1,926 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 186 |  |  | — |  |  | 2,112 |
Substandard |  | — |  |  | 1,004 |  |  | 561 |  |  | 3,580 |  |  | 1,348 |  |  | 538 |  |  | — |  |  | — |  |  | 7,031 |
Total |  | $ | 35,944 |  |  | $ | 26,791 |  |  | $ | 62,981 |  |  | $ | 53,141 |  |  | $ | 43,471 |  |  | $ | 49,102 |  |  | $ | 17,226 |  |  | $ | 182 |  |  | $ | 288,838 |
Commercial real estate - non-owner occupied
Pass |  | $ | 58,586 |  |  | $ | 115,444 |  |  | $ | 250,564 |  |  | $ | 225,220 |  |  | $ | 89,131 |  |  | $ | 66,324 |  |  | $ | 8,227 |  |  | $ | 1,233 |  |  | $ | 814,729 |
Pass-Watch |  | 3,677 |  |  | 430 |  |  | 6,681 |  |  | 6,831 |  |  | 839 |  |  | 4,920 |  |  | 13,189 |  |  | — |  |  | 36,567 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | 4,844 |  |  | 13,431 |  |  | 6,638 |  |  | — |  |  | — |  |  | 12,979 |  |  | — |  |  | — |  |  | 37,892 |
Total |  | $ | 67,107 |  |  | $ | 129,305 |  |  | $ | 263,883 |  |  | $ | 232,051 |  |  | $ | 89,970 |  |  | $ | 84,223 |  |  | $ | 21,416 |  |  | $ | 1,233 |  |  | $ | 889,188 |
Construction and land development
Pass |  | $ | 140,878 |  |  | $ | 88,022 |  |  | $ | 72,878 |  |  | $ | 21,229 |  |  | $ | 840 |  |  | $ | 1,374 |  |  | $ | 9,931 |  |  | $ | 261 |  |  | $ | 335,413 |
Pass-Watch |  | — |  |  | 638 |  |  | 8,748 |  |  | 12,097 |  |  | — |  |  | 18 |  |  | 695 |  |  | 797 |  |  | 22,993 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | 475 |  |  | — |  |  | 216 |  |  | — |  |  | — |  |  | 54 |  |  | — |  |  | — |  |  | 745 |
Total |  | $ | 141,353 |  |  | $ | 88,660 |  |  | $ | 81,842 |  |  | $ | 33,326 |  |  | $ | 840 |  |  | $ | 1,446 |  |  | $ | 10,626 |  |  | $ | 1,058 |  |  | $ | 359,151 |
Multi-family
Pass |  | $ | 27,106 |  |  | $ | 85,056 |  |  | $ | 100,132 |  |  | $ | 102,243 |  |  | $ | 51,365 |  |  | $ | 42,226 |  |  | $ | 4,087 |  |  | $ | 840 |  |  | $ | 413,055 |
Pass-Watch |  | 2,799 |  |  | — |  |  | 570 |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | 6 |  |  | 3,875 |
Special Mention |  | 6,978 |  |  | — |  |  | — |  |  | — |  |  | 8,804 |  |  | — |  |  | — |  |  | — |  |  | 15,782 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | $ | 36,883 |  |  | $ | 85,056 |  |  | $ | 100,702 |  |  | $ | 102,243 |  |  | $ | 60,169 |  |  | $ | 42,726 |  |  | $ | 4,087 |  |  | $ | 846 |  |  | $ | 432,712 |
One-to-four family residential
Pass |  | $ | 33,280 |  |  | $ | 89,297 |  |  | $ | 85,760 |  |  | $ | 73,658 |  |  | $ | 59,745 |  |  | $ | 48,968 |  |  | $ | 59,643 |  |  | $ | 5,516 |  |  | $ | 455,867 |
Pass-Watch |  | 1,245 |  |  | 1,363 |  |  | 625 |  |  | 441 |  |  | 520 |  |  | 2,160 |  |  | 187 |  |  | 143 |  |  | 6,684 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 598 |  |  | 122 |  |  | — |  |  | — |  |  | — |  |  | 720 |
Substandard |  | 203 |  |  | 620 |  |  | 962 |  |  | 628 |  |  | 386 |  |  | 5,429 |  |  | 16 |  |  | 525 |  |  | 8,769 |
Total |  | $ | 34,728 |  |  | $ | 91,280 |  |  | $ | 87,347 |  |  | $ | 75,325 |  |  | $ | 60,773 |  |  | $ | 56,557 |  |  | $ | 59,846 |  |  | $ | 6,184 |  |  | $ | 472,040 |
Agricultural and farmland
Pass |  | $ | 35,985 |  |  | $ | 37,170 |  |  | $ | 32,799 |  |  | $ | 29,367 |  |  | $ | 28,589 |  |  | $ | 9,421 |  |  | $ | 97,650 |  |  | $ | 798 |  |  | $ | 271,779 |
Pass-Watch |  | 275 |  |  | 2,683 |  |  | 1,424 |  |  | 1,454 |  |  | 511 |  |  | 844 |  |  | 10,689 |  |  | 88 |  |  | 17,968 |
Special Mention |  | 137 |  |  | 609 |  |  | 600 |  |  | — |  |  | 1,100 |  |  | — |  |  | 938 |  |  | 250 |  |  | 3,634 |
Substandard |  | 331 |  |  | — |  |  | 47 |  |  | 10 |  |  | 3,183 |  |  | — |  |  | — |  |  | 150 |  |  | 3,721 |
Total |  | $ | 36,728 |  |  | $ | 40,462 |  |  | $ | 34,870 |  |  | $ | 30,831 |  |  | $ | 33,383 |  |  | $ | 10,265 |  |  | $ | 109,277 |  |  | $ | 1,286 |  |  | $ | 297,102 |
(dollars in thousands) |  | Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Municipal, Consumer, and other
Pass |  | $ | 67,066 |  |  | $ | 37,483 |  |  | $ | 14,694 |  |  | $ | 23,992 |  |  | $ | 13,178 |  |  | $ | 39,562 |  |  | $ | 22,876 |  |  | $ | — |  |  | $ | 218,851 |
Pass-Watch |  | — |  |  | 41 |  |  | 25 |  |  | 13 |  |  | — |  |  | 764 |  |  | — |  |  | — |  |  | 843 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 4,163 |  |  | 23 |  |  | — |  |  | 4,186 |
Substandard |  | 50 |  |  | 23 |  |  | 38 |  |  | — |  |  | — |  |  | 11,207 |  |  | 3 |  |  | — |  |  | 11,321 |
Total |  | $ | 67,116 |  |  | $ | 37,547 |  |  | $ | 14,757 |  |  | $ | 24,005 |  |  | $ | 13,178 |  |  | $ | 55,696 |  |  | $ | 22,902 |  |  | $ | — |  |  | $ | 235,201 |
Total by Risk Rating
Pass |  | $ | 426,474 |  |  | $ | 529,236 |  |  | $ | 668,952 |  |  | $ | 533,800 |  |  | $ | 304,303 |  |  | $ | 292,948 |  |  | $ | 389,547 |  |  | $ | 12,174 |  |  | $ | 3,157,434 |
Pass-Watch |  | 12,873 |  |  | 7,101 |  |  | 20,561 |  |  | 26,498 |  |  | 2,502 |  |  | 13,032 |  |  | 25,943 |  |  | 1,233 |  |  | 109,743 |
Special Mention |  | 9,041 |  |  | 898 |  |  | 901 |  |  | 780 |  |  | 10,026 |  |  | 4,163 |  |  | 1,573 |  |  | 250 |  |  | 27,632 |
Substandard |  | 5,940 |  |  | 17,072 |  |  | 9,545 |  |  | 4,990 |  |  | 4,917 |  |  | 30,207 |  |  | 831 |  |  | 1,519 |  |  | 75,021 |
Total |  | $ | 454,328 |  |  | $ | 554,307 |  |  | $ | 699,959 |  |  | $ | 566,068 |  |  | $ | 321,748 |  |  | $ | 340,350 |  |  | $ | 417,894 |  |  | $ | 15,176 |  |  | $ | 3,369,830 |
Risk ratings of loans, further sorted by origination year, are as follows as of December 31, 2023:
(dollars in thousands) |  | Term Loans by Origination Year |  | Revolving Loans |  | Revolving Loans Converted to Term |  | Total
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
Commercial and industrial
Pass |  | $ | 90,931 |  |  | $ | 58,364 |  |  | $ | 19,283 |  |  | $ | 26,816 |  |  | $ | 5,269 |  |  | $ | 29,550 |  |  | $ | 187,579 |  |  | $ | 1,702 |  |  | $ | 419,494 |
Pass-Watch |  | 2,025 |  |  | 1,340 |  |  | 892 |  |  | 144 |  |  | 753 |  |  | 471 |  |  | 956 |  |  | 547 |  |  | 7,128 |
Substandard |  | 111 |  |  | 73 |  |  | 327 |  |  | 60 |  |  | — |  |  | — |  |  | 323 |  |  | 284 |  |  | 1,178 |
Total |  | $ | 93,067 |  |  | $ | 59,777 |  |  | $ | 20,502 |  |  | $ | 27,020 |  |  | $ | 6,022 |  |  | $ | 30,021 |  |  | $ | 188,858 |  |  | $ | 2,533 |  |  | $ | 427,800 |
Commercial real estate - owner occupied
Pass |  | $ | 27,516 |  |  | $ | 64,229 |  |  | $ | 55,376 |  |  | $ | 53,634 |  |  | $ | 32,469 |  |  | $ | 28,876 |  |  | $ | 13,549 |  |  | $ | — |  |  | $ | 275,649 |
Pass-Watch |  | 4,061 |  |  | 943 |  |  | 5,210 |  |  | 1,474 |  |  | 1,573 |  |  | 811 |  |  | — |  |  | — |  |  | 14,072 |
Substandard |  | 2,734 |  |  | 86 |  |  | 1,550 |  |  | 64 |  |  | 164 |  |  | 1,523 |  |  | — |  |  | — |  |  | 6,121 |
Total |  | $ | 34,311 |  |  | $ | 65,258 |  |  | $ | 62,136 |  |  | $ | 55,172 |  |  | $ | 34,206 |  |  | $ | 31,210 |  |  | $ | 13,549 |  |  | $ | — |  |  | $ | 295,842 |
Commercial real estate - non-owner occupied
Pass |  | $ | 121,536 |  |  | $ | 240,323 |  |  | $ | 237,953 |  |  | $ | 88,894 |  |  | $ | 82,094 |  |  | $ | 39,228 |  |  | $ | 10,274 |  |  | $ | 1,710 |  |  | $ | 822,012 |
Pass-Watch |  | 810 |  |  | 6,893 |  |  | 7,013 |  |  | 353 |  |  | 4,230 |  |  | 154 |  |  | 13,585 |  |  | 245 |  |  | 33,283 |
Substandard |  | 13,376 |  |  | 124 |  |  | 286 |  |  | — |  |  | 2,410 |  |  | 9,190 |  |  | — |  |  | — |  |  | 25,386 |
Total |  | $ | 135,722 |  |  | $ | 247,340 |  |  | $ | 245,252 |  |  | $ | 89,247 |  |  | $ | 88,734 |  |  | $ | 48,572 |  |  | $ | 23,859 |  |  | $ | 1,955 |  |  | $ | 880,681 |
Construction and land development
Pass |  | $ | 153,499 |  |  | $ | 119,005 |  |  | $ | 56,954 |  |  | $ | 5,596 |  |  | $ | 2,662 |  |  | $ | 796 |  |  | $ | 12,050 |  |  | $ | 525 |  |  | $ | 351,087 |
Pass-Watch |  | 153 |  |  | 10,750 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 163 |  |  | 1,538 |  |  | 12,604 |
Substandard |  | — |  |  | 216 |  |  | — |  |  | — |  |  | — |  |  | 76 |  |  | — |  |  | — |  |  | 292 |
Total |  | $ | 153,652 |  |  | $ | 129,971 |  |  | $ | 56,954 |  |  | $ | 5,596 |  |  | $ | 2,662 |  |  | $ | 872 |  |  | $ | 12,213 |  |  | $ | 2,063 |  |  | $ | 363,983 |
Multi-family
Pass |  | $ | 83,898 |  |  | $ | 81,507 |  |  | $ | 115,402 |  |  | $ | 53,126 |  |  | $ | 34,053 |  |  | $ | 23,570 |  |  | $ | 5,904 |  |  | $ | 491 |  |  | $ | 397,951 |
Pass-Watch |  | 3,111 |  |  | 7,197 |  |  | — |  |  | 8,821 |  |  | 51 |  |  | 468 |  |  | — |  |  | 8 |  |  | 19,656 |
Substandard |  | — |  |  | — |  |  | 316 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 316 |
Total |  | $ | 87,009 |  |  | $ | 88,704 |  |  | $ | 115,718 |  |  | $ | 61,947 |  |  | $ | 34,104 |  |  | $ | 24,038 |  |  | $ | 5,904 |  |  | $ | 499 |  |  | $ | 417,923 |
One-to-four family residential
Pass |  | $ | 105,337 |  |  | $ | 91,636 |  |  | $ | 82,289 |  |  | $ | 64,094 |  |  | $ | 21,986 |  |  | $ | 44,241 |  |  | $ | 57,248 |  |  | $ | 5,524 |  |  | $ | 472,355 |
Pass-Watch |  | 2,382 |  |  | 286 |  |  | 940 |  |  | 486 |  |  | 212 |  |  | 1,804 |  |  | 203 |  |  | 358 |  |  | 6,671 |
Substandard |  | 1,507 |  |  | 1,527 |  |  | 623 |  |  | 646 |  |  | 1,037 |  |  | 4,166 |  |  | 64 |  |  | 2,912 |  |  | 12,482 |
Total |  | $ | 109,226 |  |  | $ | 93,449 |  |  | $ | 83,852 |  |  | $ | 65,226 |  |  | $ | 23,235 |  |  | $ | 50,211 |  |  | $ | 57,515 |  |  | $ | 8,794 |  |  | $ | 491,508 |
Agricultural and farmland
Pass |  | $ | 52,766 |  |  | $ | 37,600 |  |  | $ | 36,604 |  |  | $ | 33,960 |  |  | $ | 8,910 |  |  | $ | 7,756 |  |  | $ | 100,486 |  |  | $ | 2,785 |  |  | $ | 280,867 |
Pass-Watch |  | 953 |  |  | 361 |  |  | 425 |  |  | 30 |  |  | 71 |  |  | 719 |  |  | 172 |  |  | 340 |  |  | 3,071 |
Substandard |  | — |  |  | — |  |  | 13 |  |  | 3,199 |  |  | — |  |  | 144 |  |  | — |  |  | — |  |  | 3,356 |
Total |  | $ | 53,719 |  |  | $ | 37,961 |  |  | $ | 37,042 |  |  | $ | 37,189 |  |  | $ | 8,981 |  |  | $ | 8,619 |  |  | $ | 100,658 |  |  | $ | 3,125 |  |  | $ | 287,294 |
Municipal, Consumer, and other
Pass |  | $ | 43,575 |  |  | $ | 57,404 |  |  | $ | 27,904 |  |  | $ | 14,342 |  |  | $ | 1,016 |  |  | $ | 42,499 |  |  | $ | 35,734 |  |  | $ | — |  |  | $ | 222,474 |
Pass-Watch |  | 9 |  |  | 6 |  |  | 13 |  |  | — |  |  | — |  |  | 1,693 |  |  | — |  |  | — |  |  | 1,721 |
Substandard |  | 51 |  |  | 103 |  |  | 2 |  |  | 6 |  |  | 8 |  |  | 15,012 |  |  | 8 |  |  | 1 |  |  | 15,191 |
Total |  | $ | 43,635 |  |  | $ | 57,513 |  |  | $ | 27,919 |  |  | $ | 14,348 |  |  | $ | 1,024 |  |  | $ | 59,204 |  |  | $ | 35,742 |  |  | $ | 1 |  |  | $ | 239,386 |
Total by Risk Rating
Pass |  | $ | 679,058 |  |  | $ | 750,068 |  |  | $ | 631,765 |  |  | $ | 340,462 |  |  | $ | 188,459 |  |  | $ | 216,516 |  |  | $ | 422,824 |  |  | $ | 12,737 |  |  | $ | 3,241,889 |
Pass-Watch |  | 13,504 |  |  | 27,776 |  |  | 14,493 |  |  | 11,308 |  |  | 6,890 |  |  | 6,120 |  |  | 15,079 |  |  | 3,036 |  |  | 98,206 |
Substandard |  | 17,779 |  |  | 2,129 |  |  | 3,117 |  |  | 3,975 |  |  | 3,619 |  |  | 30,111 |  |  | 395 |  |  | 3,197 |  |  | 64,322 |
Total |  | $ | 710,341 |  |  | $ | 779,973 |  |  | $ | 649,375 |  |  | $ | 355,745 |  |  | $ | 198,968 |  |  | $ | 252,747 |  |  | $ | 438,298 |  |  | $ | 18,970 |  |  | $ | 3,404,417 |
Modifications There were no loan modifications to borrowers in financial distress during the three and nine months ended September 30, 2024 and 2023. There were no modified loans to borrowers in financial distress outstanding as of September 30, 2024 and December 31, 2023. Pledged Loans As of September 30, 2024 and December 31, 2023, the Company pledged loans totaling $1.88 billion and $1.20 billion, respectively, to the Federal Home Loan Bank of Chicago (“FHLB”) to secure available FHLB advance borrowing capacity.

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