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LOANS AND RELATED ALLOWANCE FOR CREDIT LOSSES

9 Months Ended

Sep. 30, 2025

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, 2025						December 31, 2024
Commercial and industrial			$	395,859					$	428,389
Commercial real estate - owner occupied			312,192						322,316
Commercial real estate - non-owner occupied			931,723						899,565
Construction and land development			269,924						374,657
Multi-family			514,801						431,524
One-to-four family residential			443,215						463,968
Agricultural and farmland			280,309						293,375
Municipal, consumer, and other			252,006						252,352
Loans, before allowance for credit losses			3,400,029						3,466,146
Allowance for credit losses			(41,900)						(42,044)
Loans, net of allowance for credit losses			$	3,358,129					$	3,424,102

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, 2025, the economic forecast used by management anticipates a mild slowdown for the fourth quarter of 2025 followed by a gradual increase in economic activity over the remainder of the four quarter forecast period. The forecast has the unemployment rate increasing slightly during the fourth quarter of 2025 then decreasing slightly in 2026, while gross domestic product ("GDP") growth slows during the fourth quarter of 2025 and then increases in 2026. 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, 2025
(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			$	6,310					$	3,311					$	11,635					$	3,450					$	4,554					$	3,677					$	1,558					$	7,164					$	41,659
Provision for credit losses			110						342						212						(604)						272						(117)						(151)						311						375
Charge-offs			(398)						(114)						—						—						—						(31)						(15)						(165)						(723)
Recoveries			459						3						—						—						—						57						11						59						589
Ending balance			$	6,481					$	3,542					$	11,847					$	2,846					$	4,826					$	3,586					$	1,403					$	7,369					$	41,900
			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
			Nine Months Ended September 30, 2025
(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			$	5,357					$	3,107					$	11,707					$	4,302					$	4,331					$	3,908					$	1,170					$	8,162					$	42,044
Provision for credit losses			2,002						514						140						(1,452)						538						82						190						(548)						1,466
Charge-offs			(1,442)						(115)						—						(8)						(43)						(548)						(24)						(460)						(2,640)
Recoveries			564						36						—						4						—						144						67						215						1,030
Ending balance			$	6,481					$	3,542					$	11,847					$	2,846					$	4,826					$	3,586					$	1,403					$	7,369					$	41,900
			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

Gross charge-offs, further sorted by origination year, were as follows during the three months ended September 30, 2025 and 2024.

			Gross Charge-Offs for the Three Months Ended September 30, 2025
			Term Loans by Origination Year																																				Revolving Loans						Revolving Loans Converted to Term						Total
(dollars in thousands)			2025						2024						2023						2022						2021						Prior
Commercial and industrial			$	12					$	1					$	172					$	189					$	—					$	—					$	24					$	—					$	398
Commercial real estate - owner occupied			—						—						114						—						—						—						—						—						114
Commercial real estate - non-owner occupied			—						—						—						—						—						—						—						—						—
Construction and land development			—						—						—						—						—						—						—						—						—
Multi-family			—						—						—						—						—						—						—						—						—
One-to-four family residential			—						—						—						31						—						—						—						—						31
Agricultural and farmland			—						—						—						—						—						—						15						—						15
Municipal, consumer, and other			86						5						—						—						—						—						74						—						165
Total			$	98					$	6					$	286					$	220					$	—					$	—					$	113					$	—					$	723
			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, further sorted by origination year, were as follows during the nine months ended September 30, 2025 and 2024.

			Gross Charge-Offs for the Nine Months Ended September 30, 2025
			Term Loans by Origination Year																																				Revolving Loans						Revolving Loans Converted to Term						Total
(dollars in thousands)			2025						2024						2023						2022						2021						Prior
Commercial and industrial			$	12					$	1					$	696					$	195					$	46					$	—					$	492					$	—					$	1,442
Commercial real estate - owner occupied			—						—						114						—						1						—						—						—						115
Commercial real estate - non-owner occupied			—						—						—						—						—						—						—						—						—
Construction and land development			—						2						—						2						—						4						—						—						8
Multi-family			—						43						—						—						—						—						—						—						43
One-to-four family residential			—						20						—						45						—						480						3						—						548
Agricultural and farmland			—						9						—						—						—						—						15						—						24
Municipal, consumer, and other			242						71						2						—						—						—						145						—						460
Total			$	254					$	146					$	812					$	242					$	47					$	484					$	655					$	—					$	2,640
			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

The following tables present loans and the related allowance for credit losses by category:

						September 30, 2025
(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						$	393,876					$	310,943					$	919,019					$	269,924					$	514,763					$	440,058					$	279,140					$	238,180					$	3,365,903
Individually evaluated for impairment						1,983						1,249						12,704						—						38						3,157						1,169						13,826						34,126
Total						$	395,859					$	312,192					$	931,723					$	269,924					$	514,801					$	443,215					$	280,309					$	252,006					$	3,400,029
Allowance for credit losses:
Collectively evaluated for impairment						$	5,875					$	3,239					$	11,401					$	2,846					$	4,788					$	3,586					$	1,403					$	5,800					$	38,938
Individually evaluated for impairment						606						303						446						—						38						—						—						1,569						2,962
Total						$	6,481					$	3,542					$	11,847					$	2,846					$	4,826					$	3,586					$	1,403					$	7,369					$	41,900
						December 31, 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						$	427,737					$	322,159					$	884,832					$	374,408					$	431,432					$	459,790					$	293,240					$	241,765					$	3,435,363
Individually evaluated for impairment						652						157						14,733						249						92						4,178						135						10,587						30,783
Total						$	428,389					$	322,316					$	899,565					$	374,657					$	431,524					$	463,968					$	293,375					$	252,352					$	3,466,146
Allowance for credit losses:
Collectively evaluated for impairment						$	5,344					$	3,107					$	11,201					$	4,269					$	4,239					$	3,747					$	1,170					$	5,901					$	38,978
Individually evaluated for impairment						13						—						506						33						92						161						—						2,261						3,066
Total						$	5,357					$	3,107					$	11,707					$	4,302					$	4,331					$	3,908					$	1,170					$	8,162					$	42,044

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, 2025
						Amortized Cost																								Allowance for Credit Losses
						Primary Collateral Type
(dollars in thousands)						Real Estate						Vehicles						Other						Total
Commercial and industrial						$	—					$	530					$	1,453					$	1,983					$	606
Commercial real estate - owner occupied						1,249						—						—						1,249						303
Commercial real estate - non-owner occupied						12,704						—						—						12,704						446
Construction and land development						—						—						—						—						—
Multi-family						38						—						—						38						38
One-to-four family residential						3,157						—						—						3,157						—
Agricultural and farmland						736						—						433						1,169						—
Municipal, consumer, and other						9,882						—						3,944						13,826						1,569
Total						$	27,766					$	530					$	5,830					$	34,126					$	2,962
						December 31, 2024
						Amortized Cost																								Allowance for Credit Losses
						Primary Collateral Type
(dollars in thousands)						Real Estate						Vehicles						Other						Total
Commercial and industrial						$	—					$	627					$	25					$	652					$	13
Commercial real estate - owner occupied						157						—						—						157						—
Commercial real estate - non-owner occupied						14,733						—						—						14,733						506
Construction and land development						249						—						—						249						33
Multi-family						92						—						—						92						92
One-to-four family residential						4,178						—						—						4,178						161
Agricultural and farmland						—						—						135						135						—
Municipal, consumer, and other						10,569						5						13						10,587						2,261
Total						$	29,978					$	632					$	173					$	30,783					$	3,066

Accrued interest on loans is excluded from the estimate of credit losses and totaled $18.1 million and $19.6 million as of September 30, 2025 and December 31, 2024, 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, 2025
						Accruing Interest
(dollars in thousands)						Current						30 - 89 Days Past Due						90+ Days Past Due						Nonaccrual						Total Loans
Commercial and industrial						$	393,129					$	747					$	—					$	1,983					$	395,859
Commercial real estate - owner occupied						309,156						1,787						—						1,249						312,192
Commercial real estate - non-owner occupied						931,380						311						—						32						931,723
Construction and land development						269,924						—						—						—						269,924
Multi-family						514,763						—						—						38						514,801
One-to-four family residential						439,260						798						—						3,157						443,215
Agricultural and farmland						279,066						74						—						1,169						280,309
Municipal, consumer, and other						251,837						155						5						9						252,006
Total						$	3,388,515					$	3,872					$	5					$	7,637					$	3,400,029

						December 31, 2024
						Accruing Interest
(dollars in thousands)						Current						30 - 89 Days Past Due						90+ Days Past Due						Nonaccrual						Total Loans
Commercial and industrial						$	425,859					$	1,878					$	—					$	652					$	428,389
Commercial real estate - owner occupied						321,805						354						—						157						322,316
Commercial real estate - non-owner occupied						897,445						299						—						1,821						899,565
Construction and land development						373,933						475						—						249						374,657
Multi-family						431,432						—						—						92						431,524
One-to-four family residential						459,069						721						—						4,178						463,968
Agricultural and farmland						293,231						9						—						135						293,375
Municipal, consumer, and other						251,798						182						4						368						252,352
Total						$	3,454,572					$	3,918					$	4					$	7,652					$	3,466,146

The following tables present nonaccrual loans with and without a related allowance for credit losses:

						September 30, 2025
(dollars in thousands)						Nonaccrual With Allowance for Credit Losses						Nonaccrual With No Allowance for Credit Losses						Total Nonaccrual
Commercial and industrial						$	1,200					$	783					$	1,983
Commercial real estate - owner occupied						454						795						1,249
Commercial real estate - non-owner occupied						—						32						32
Construction and land development						—						—						—
Multi-family						38						—						38
One-to-four family residential						—						3,157						3,157
Agricultural and farmland						—						1,169						1,169
Municipal, consumer, and other						—						9						9
Total						$	1,692					$	5,945					$	7,637
						December 31, 2024
(dollars in thousands)						Nonaccrual With Allowance for Credit Losses						Nonaccrual With No Allowance for Credit Losses						Total Nonaccrual
Commercial and industrial						$	185					$	467					$	652
Commercial real estate - owner occupied						—						157						157
Commercial real estate - non-owner occupied						—						1,821						1,821
Construction and land development						216						33						249
Multi-family						92						—						92
One-to-four family residential						654						3,524						4,178
Agricultural and farmland						—						135						135
Municipal, consumer, and other						—						368						368
Total						$	1,147					$	6,505					$	7,652

Credit Quality Indicators

The Company assigns a risk rating to all loans and periodically performs detailed internal reviews of all 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. During these 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. These credit quality indicators are used to assign a risk rating to each individual loan. Risk ratings are reviewed annually, at a minimum, and on an as needed basis depending on the specific circumstances of the loan. These risk ratings are also subject to review by the Company’s regulators, external loan review, and internal loan review. 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, 2025 and December 31, 2024.

The following tables present loans by category based on their assigned risk ratings determined by management:

						September 30, 2025
(dollars in thousands)						Pass						Pass-Watch						Special Mention						Substandard						Total
Commercial and industrial						$	364,841					$	21,376					$	4,117					$	5,525					$	395,859
Commercial real estate - owner occupied						286,103						14,718						4,112						7,259						312,192
Commercial real estate - non-owner occupied						876,934						26,999						268						27,522						931,723
Construction and land development						259,875						1,243						—						8,806						269,924
Multi-family						514,164						599						—						38						514,801
One-to-four family residential						429,459						6,689						912						6,155						443,215
Agricultural and farmland						246,433						17,245						5,681						10,950						280,309
Municipal, consumer, and other						237,305						863						—						13,838						252,006
Total						$	3,215,114					$	89,732					$	15,090					$	80,093					$	3,400,029

						December 31, 2024
(dollars in thousands)						Pass						Pass-Watch						Special Mention						Substandard						Total
Commercial and industrial						$	404,779					$	16,429					$	1,957					$	5,224					$	428,389
Commercial real estate - owner occupied						297,150						14,969						2,713						7,484						322,316
Commercial real estate - non-owner occupied						843,487						21,594						—						34,484						899,565
Construction and land development						351,657						1,376						20,847						777						374,657
Multi-family						411,842						3,855						15,735						92						431,524
One-to-four family residential						448,869						6,641						710						7,748						463,968
Agricultural and farmland						269,926						18,154						521						4,774						293,375
Municipal, consumer, and other						236,686						929						4,107						10,630						252,352
Total						$	3,264,396					$	83,947					$	46,590					$	71,213					$	3,466,146

Risk ratings of loans, further sorted by origination year, are as follows as of September 30, 2025:

(dollars in thousands)						Term Loans by Origination Year																																				Revolving Loans						Revolving Loans Converted to Term						Total
						2025						2024						2023						2022						2021						Prior
Commercial and industrial
Pass						$	39,870					$	51,810					$	43,806					$	35,614					$	8,797					$	17,320					$	165,297					$	2,327					$	364,841
Pass-Watch						460						153						1,250						190						890						174						17,914						345						21,376
Special Mention						—						—						—						—						—						—						4,117						—						4,117
Substandard						226						506						939						1,137						130						722						503						1,362						5,525
Total						$	40,556					$	52,469					$	45,995					$	36,941					$	9,817					$	18,216					$	187,831					$	4,034					$	395,859
Commercial real estate - owner occupied
Pass						$	39,894					$	58,444					$	22,452					$	47,997					$	45,191					$	61,428					$	10,146					$	551					$	286,103
Pass-Watch						272						1,483						204						2,308						1,909						1,275						7,267						—						14,718
Special Mention						—						1,732						—						1,164						—						—						1,216						—						4,112
Substandard						2,085						782						260						782						1,146						716						1,423						65						7,259
Total						$	42,251					$	62,441					$	22,916					$	52,251					$	48,246					$	63,419					$	20,052					$	616					$	312,192
Commercial real estate - non-owner occupied
Pass						$	156,569					$	84,892					$	99,663					$	198,497					$	210,085					$	103,551					$	22,241					$	1,436					$	876,934
Pass-Watch						8,513						321						400						1,706						2,920						12,511						628						—						26,999
Special Mention						—						—						—						—						268						—						—						—						268
Substandard						19,891						5,441						198						—						—						1,992						—						—						27,522
Total						$	184,973					$	90,654					$	100,261					$	200,203					$	213,273					$	118,054					$	22,869					$	1,436					$	931,723
Construction and land development
Pass						$	123,346					$	84,892					$	24,951					$	1,501					$	12,922					$	1,032					$	10,996					$	235					$	259,875
Pass-Watch						18						246						—						—						—						16						963						—						1,243
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						—						—						8,756						—						50						—						—						8,806
Total						$	123,364					$	85,138					$	24,951					$	10,257					$	12,922					$	1,098					$	11,959					$	235					$	269,924
Multi-family
Pass						$	82,488					$	78,820					$	91,823					$	106,536					$	81,973					$	70,177					$	1,298					$	1,049					$	514,164
Pass-Watch						—						—						17						—						582						—						—						—						599
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						38						—						—						—						—						—						—						38
Total						$	82,488					$	78,858					$	91,840					$	106,536					$	82,555					$	70,177					$	1,298					$	1,049					$	514,801
One-to-four family residential
Pass						$	56,482					$	28,649					$	69,499					$	70,458					$	60,668					$	77,874					$	58,881					$	6,948					$	429,459
Pass-Watch						112						290						1,377						899						1,036						2,437						268						270						6,689
Special Mention						—						—						—						912						—						—						—						—						912
Substandard						386						107						393						358						326						4,340						22						223						6,155
Total						$	56,980					$	29,046					$	71,269					$	72,627					$	62,030					$	84,651					$	59,171					$	7,441					$	443,215
Agricultural and farmland
Pass						$	38,434					$	29,295					$	28,591					$	17,037					$	25,846					$	21,475					$	84,074					$	1,681					$	246,433
Pass-Watch						2,384						538						1,157						3,232						975						806						7,057						1,096						17,245
Special Mention						1,811						—						1,655						—						5						—						2,210						—						5,681
Substandard						1,328						330						677						1,819						905						3,094						2,157						640						10,950
Total						$	43,957					$	30,163					$	32,080					$	22,088					$	27,731					$	25,375					$	95,498					$	3,417					$	280,309

(dollars in thousands)						Term Loans by Origination Year																																				Revolving Loans						Revolving Loans Converted to Term						Total
						2025						2024						2023						2022						2021						Prior
Municipal, consumer, and other
Pass						$	57,421					$	21,035					$	17,860					$	18,005					$	22,598					$	45,837					$	54,549					$	—					$	237,305
Pass-Watch						18						98						9						—						1						735						2						—						863
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						4						3						3						3						7						13,817						1						—						13,838
Total						$	57,443					$	21,136					$	17,872					$	18,008					$	22,606					$	60,389					$	54,552					$	—					$	252,006
Total by risk rating
Pass						$	594,504					$	437,837					$	398,645					$	495,645					$	468,080					$	398,694					$	407,482					$	14,227					$	3,215,114
Pass-Watch						11,777						3,129						4,414						8,335						8,313						17,954						34,099						1,711						89,732
Special Mention						1,811						1,732						1,655						2,076						273						—						7,543						—						15,090
Substandard						23,920						7,207						2,470						12,855						2,514						24,731						4,106						2,290						80,093
Total						$	632,012					$	449,905					$	407,184					$	518,911					$	479,180					$	441,379					$	453,230					$	18,228					$	3,400,029

Risk ratings of loans, further sorted by origination year, are as follows as of December 31, 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						$	46,635					$	43,007					$	44,701					$	11,617					$	17,913					$	41,397					$	197,516					$	1,993					$	404,779
Pass-Watch						475						1,310						186						1,121						—						1,775						10,613						949						16,429
Special Mention						—						281						272						173						—						—						1,231						—						1,957
Substandard						—						1,913						1,016						721						—						—						939						635						5,224
Total						$	47,110					$	46,511					$	46,175					$	13,632					$	17,913					$	43,172					$	210,299					$	3,577					$	428,389
Commercial real estate - owner occupied
Pass						$	63,546					$	23,607					$	56,509					$	48,867					$	39,679					$	44,108					$	19,766					$	1,068					$	297,150
Pass-Watch						6,478						395						3,698						2,111						542						1,374						371						—						14,969
Special Mention						1,877						—						—						150						—						—						686						—						2,713
Substandard						819						700						506						3,707						1,241						511						—						—						7,484
Total						$	72,720					$	24,702					$	60,713					$	54,835					$	41,462					$	45,993					$	20,823					$	1,068					$	322,316
Commercial real estate - non-owner occupied
Pass						$	92,125					$	108,688					$	245,168					$	222,479					$	84,054					$	65,935					$	23,425					$	1,613					$	843,487
Pass-Watch						3,173						421						6,656						4,031						2,442						4,871						—						—						21,594
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						23,245						9,191						—						—						—						2,048						—						—						34,484
Total						$	118,543					$	118,300					$	251,824					$	226,510					$	86,496					$	72,854					$	23,425					$	1,613					$	899,565
Construction and land development
Pass						$	181,274					$	73,773					$	65,045					$	21,542					$	590					$	693					$	8,228					$	512					$	351,657
Pass-Watch						—						—						—						—						—						18						697						661						1,376
Special Mention						—						—						8,750						12,097						—						—						—						—						20,847
Substandard						475						—						216						—						—						86						—						—						777
Total						$	181,749					$	73,773					$	74,011					$	33,639					$	590					$	797					$	8,925					$	1,173					$	374,657
Multi-family
Pass						$	46,969					$	80,450					$	88,823					$	101,284					$	50,652					$	40,839					$	2,375					$	450					$	411,842
Pass-Watch						2,791						—						567						—						—						492						—						5						3,855
Special Mention						6,936						—						—						—						8,799						—						—						—						15,735
Substandard						92						—						—						—						—						—						—						—						92
Total						$	56,788					$	80,450					$	89,390					$	101,284					$	59,451					$	41,331					$	2,375					$	455					$	431,524
One-to-four family residential
Pass						$	44,914					$	87,184					$	79,834					$	71,466					$	57,258					$	43,455					$	59,446					$	5,312					$	448,869
Pass-Watch						1,126						1,271						936						242						405						2,252						134						275						6,641
Special Mention						—						—						—						592						118						—						—						—						710
Substandard						281						522						861						473						382						4,824						16						389						7,748
Total						$	46,321					$	88,977					$	81,631					$	72,773					$	58,163					$	50,531					$	59,596					$	5,976					$	463,968
Agricultural and farmland
Pass						$	42,272					$	35,593					$	32,146					$	28,714					$	27,865					$	7,656					$	94,977					$	703					$	269,926
Pass-Watch						100						2,671						1,424						1,403						508						861						10,633						554						18,154
Special Mention						134						87						—						—						—						—						300						—						521
Substandard						332						51						494						9						3,183						—						319						386						4,774
Total						$	42,838					$	38,402					$	34,064					$	30,126					$	31,556					$	8,517					$	106,229					$	1,643					$	293,375

(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						$	77,779					$	37,678					$	14,475					$	23,204					$	12,479					$	37,460					$	33,611					$	—					$	236,686
Pass-Watch						103						50						6						12						—						757						1						—						929
Special Mention						—						—						—						—						—						4,107						—						—						4,107
Substandard						21						5						33						—						—						10,570						1						—						10,630
Total						$	77,903					$	37,733					$	14,514					$	23,216					$	12,479					$	52,894					$	33,613					$	—					$	252,352
Total by risk rating
Pass						$	595,514					$	489,980					$	626,701					$	529,173					$	290,490					$	281,543					$	439,344					$	11,651					$	3,264,396
Pass-Watch						14,246						6,118						13,473						8,920						3,897						12,400						22,449						2,444						83,947
Special Mention						8,947						368						9,022						13,012						8,917						4,107						2,217						—						46,590
Substandard						25,265						12,382						3,126						4,910						4,806						18,039						1,275						1,410						71,213
Total						$	643,972					$	508,848					$	652,322					$	556,015					$	308,110					$	316,089					$	465,285					$	15,505					$	3,466,146

Modifications

There were no loan modifications to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2025 and 2024. As of September 30, 2025 and December 31, 2024, modified loans totaled $0.5 million and $0.5 million, respectively, and were current and performing in accordance with the modified terms.

Pledged Loans

As of September 30, 2025 and December 31, 2024, the Company pledged loans totaling $1.89 billion and $1.91 billion, respectively, to the Federal Home Loan Bank of Chicago (“FHLB”) to secure available FHLB advance borrowing capacity.

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