XML 37 R15.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Note 6 - Loans and Allowance for Credit Losses | 12 Months Ended
--- | ---
Dec. 31, 2024
Notes to Financial Statements |
Financing Receivables [Text Block] | NOTE 6 Loans and Allowance for Credit Losses The following table presents total loans outstanding, by portfolio segment, as of December 31, 2024 and 2023:
|  | December 31, |  |  | December 31, |
(dollars in thousands) |  | 2024 |  |  | 2023 |
Commercial |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 666,727 |  |  | $ | 562,180 |
Commercial real estate |  |  |  |  |  |  |  |
Construction, land and development |  |  | 294,677 |  |  |  | 124,034 |
Multifamily |  |  | 363,123 |  |  |  | 245,103 |
Non-owner occupied |  |  | 967,025 |  |  |  | 569,354 |
Owner occupied |  |  | 371,418 |  |  |  | 271,623 |
Total commercial real estate |  |  | 1,996,243 |  |  |  | 1,210,114 |
Agricultural |  |  |  |  |  |  |  |
Land |  |  | 61,299 |  |  |  | 40,832 |
Production |  |  | 63,008 |  |  |  | 36,141 |
Total agricultural |  |  | 124,307 |  |  |  | 76,973 |
Total commercial |  |  | 2,787,277 |  |  |  | 1,849,267 |
Consumer |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |
First lien |  |  | 921,019 |  |  |  | 697,900 |
Construction |  |  | 33,547 |  |  |  | 28,979 |
HELOC |  |  | 162,509 |  |  |  | 118,315 |
Junior lien |  |  | 44,060 |  |  |  | 35,819 |
Total residential real estate |  |  | 1,161,135 |  |  |  | 881,013 |
Other consumer |  |  | 44,122 |  |  |  | 29,303 |
Total consumer |  |  | 1,205,257 |  |  |  | 910,316 |
Total loans |  | $ | 3,992,534 |  |  | $ | 2,759,583 |
Total loans include net deferred loan fees and costs of $1.1 million and $0.2 million at December 31, 2024 and 2023, respectively. Unearned discounts associated with bank acquisitions totaled $70.6 million and $5.1 million as of December 31, 2024 and 2023, respectively. Accrued interest receivable on loans is recorded within accrued interest receivable, and totaled $16.4 million at December 31, 2024 and $12.2 million at December 31, 2023. The Company manages its loan portfolio proactively to effectively identify problem credits and assess trends early, implement effective work-out strategies, and take charge-offs as promptly as practical. In addition, the Company continuously reassesses its underwriting standards in response to credit risk posed by changes in economic conditions. The Company monitors and manages credit risk through the following governance structure: ​
| ● | The Credit Risk team, Collection and Special Assets team and the Credit Governance Committee, which is an internal management committee comprised of various executives and senior managers across business lines, including Accounting and Finance, Credit Underwriting, Collections and Special Assets, Risk, and Commercial and Retail Banking, oversee the Company’s systems and procedures to monitor the credit quality of its loan portfolio, conduct a loan review program, and maintain the integrity of the loan rating system.
​
| ● | The Loan Committee is responsible for reviewing and approving all credit requests that exceed individual limits that have not been countersigned by an individual with sufficient assigned authority. This committee has full authority to commit the Bank to any request that fits within its assigned approval authority.
​
| ● | The adequacy of the ACL is overseen by the ACL Governance Committee, which is an internal management committee comprised of various Company executives and senior managers across business lines, including Accounting and Finance, Credit Underwriting, Collections and Special Assets, Risk, and Commercial and Retail Banking. The ACL Governance Committee supports the oversight efforts of the Bank’s Board of Directors.
​
| ● | The Bank’s Board of Directors has approval authority and responsibility for all matters regarding loan policy, reviews all loans approved or declined by the Loan Committee, approves lending authority and monitors asset quality and concentration levels.
​
| ● | The ACL Governance Committee and Bank Board of Directors has approval authority and oversight responsibility for the ACL adequacy and methodology.
​ Loans with a carrying value of $2.9 billion and $1.6 billion were pledged at December 31, 2024 and 2023, respectively, to secure FHLB borrowings, public deposits, and for other purposes required or permitted by law. Segmentation For purposes of determining the ACL on loans, the Company disaggregates its loans into portfolio segments. Each portfolio segment possesses unique risk characteristics that are considered when determining the appropriate level of allowance. As of December 31, 2024, the Company's loan portfolio segments, as determined based on the unique risk characteristics of each, included the following: ​ Commercial & Industrial: Commercial loans consist of revolving and term loan obligations extended to business and corporate enterprises for the purpose of financing working capital and/or capital investment. Collateral generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, and/or real estate, if applicable. Commercial loans are primarily paid by the operating cash flow of the borrower. Commercial loans may be secured or unsecured. ​ Commercial Real Estate – Construction, Land & Development: Construction, Land & Development commercial estate loans primarily consists of loans to CRE construction projects until they are completed. The construction projects are for real property that may include, but are not limited to multifamily residential, commercial/retail office space, industrial/warehouse space, hotels, assisted living facilities and other specific use properties. Construction, Land & Development CRE loans are typically written with interest only, variable rate, multi advance structures. Collateral values are determine based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines. ​ Commercial Real Estate – Multifamily: Multifamily commercial estate loans are investment properties in which the primary source for repayment of the loan by the borrower is derived from rental income associated with the property or the proceeds of the sale, refinancing, or permanent refinancing of the property. Multifamily CRE loans consist of mortgage loans to finance investments in real property including multifamily residential properties, CRE loans are typically written with amortizing payment structures. Collateral values are determined based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines. ​ Commercial Real Estate – Non-Owner Occupied: Non-owner occupied commercial estate loans are investment properties in which the primary source for repayment of the loan by the borrower is derived from rental income associated with the property or the proceeds of the sale, refinancing, or permanent refinancing of the property. Non owner occupied CRE loans consist of mortgage loans to finance investments in real property that may include, but are not limited to, commercial/retail office space, industrial/warehouse space, hotels, assisted living facilities and other specific use properties. CRE loans are typically written with amortizing payment structures. Collateral values are determined based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan to value ratios at origination are governed by established policy and regulatory guidelines. ​ Commercial Real Estate – Owner Occupied: Generally, owner occupied CRE loans are properties that are owned and operated by the borrower, and the primary source for repayment is the cash flow from the ongoing operations and activities conducted by the borrower's business. Owner occupied CRE loans consist of mortgage loans to finance investments in real property that may include, but are not limited to, commercial/retail office space, restaurants, educational and medical practice facilities and other specific use properties. CRE loans are typically written with amortizing payment structures. Collateral values are determined based upon appraisals and evaluations in accordance with established policy guidelines. Maximum loan to value ratios at origination are governed by established policy and regulatory guidelines. ​ Agricultural – Land: Agricultural loans include loans secured by farmland. Farmland includes purposes such as crop and livestock production. Farmland loans are typically written with amortizing payment structures. Collateral values for farmland are determined based upon appraisals and evaluations in accordance with established policy guidelines and maximum loan-to-value ratios at origination are governed by established policy and regulatory guidelines. Agricultural – Production: Agricultural loans include loans for agricultural production. Agricultural production loans are for the purpose of financing working capital and/or capital investment for agriculture production activities. Collateral generally consists of pledges of business assets including, but not limited to, accounts receivable, inventory, plant and equipment, and/or real estate in applicable. Agricultural production loans are primarily paid by the operating cash flow of the borrower. Agricultural production loans may be secured or unsecured. ​ Residential – 1st Lien: Residential real estate loans held in the Company's loan portfolio are made to borrowers who demonstrate the ability to make scheduled payments with full consideration to underwriting factors. Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan to value ratios within established policy guidelines. Collateral consists of senior mortgage liens on one to four family residences, including for investment purposes. ​ Residential – Construction: Residential real estate construction loans held in the Company's loan portfolio are made to borrowers who demonstrate the ability to make scheduled payments with full consideration to underwriting factors. Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan-to-value ratios within established policy guidelines. Residential real estate construction loans are typically written with interest only, variable rate, multi advance structures. Collateral consists of residential construction projects for one to four family residences, including for investment purposes. ​ HELOC: Home equity lines of credit are made to qualified individuals and are secured by senior or junior mortgage liens on owner occupied one to four family homes, condominiums, or vacation homes. Home equity lines of credit have a variable rate and are billed as interest only payments during the draw period. At the end of the draw period, the home equity line of credit is billed as a percentage of the principal balance plus all accrued interest. Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan-to-value ratios within established policy guidelines. ​ Residential – Junior Lien: Residential real estate loans held in the Company's loan portfolio are made to borrowers who demonstrate the ability to make scheduled payments with full consideration to underwriting factors. Borrower qualifications include favorable credit history combined with supportive income requirements and combined loan to value ratios within established policy guidelines. Collateral consists of junior mortgage liens on one to four family residences, including for investment purposes. ​ Consumer: Consumer loan products including personal lines of credit and amortizing loans made to qualified individuals for various purposes such as education, auto loans, debt consolidation, personal expenses or overdraft protection. Borrower qualifications include favorable credit history combined with supportive income and collateral requirements within established policy guidelines, as applicable. Consumer loans may be secured or unsecured. ​ ACL on Loans The following tables present, by loan portfolio segment, a summary of the changes in the ACL for the three years ending December 31, 2024, 2023, and 2022:
|  | Year ended December 31, 2024 |
|  | Beginning |  |  | ACL on PCD |  |  | Provision for |  |  | Loan |  |  | Loan |  |  | Ending |
(dollars in thousands) |  | Balance |  |  | Acquired Loans |  |  | Credit Losses(1) |  |  | Charge-offs |  |  | Recoveries |  |  | Balance |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 9,705 |  |  | $ | 92 |  |  | $ | 1,598 |  |  | $ | (3,727 | ) |  | $ | 502 |  |  | $ | 8,170 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | 6,135 |  |  |  | 1,595 |  |  |  | 8,547 |  |  |  | — |  |  |  | — |  |  |  | 16,277 |
Multifamily |  |  | 1,776 |  |  |  | 1,154 |  |  |  | 1,786 |  |  |  | — |  |  |  | — |  |  |  | 4,716 |
Non-owner occupied |  |  | 7,726 |  |  |  | 5,682 |  |  |  | 3,105 |  |  |  | — |  |  |  | — |  |  |  | 16,513 |
Owner occupied |  |  | 2,449 |  |  |  | 705 |  |  |  | 263 |  |  |  | (237 | ) |  |  | 46 |  |  |  | 3,226 |
Total commercial real estate |  |  | 18,086 |  |  |  | 9,136 |  |  |  | 13,701 |  |  |  | (237 | ) |  |  | 46 |  |  |  | 40,732 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 96 |  |  |  | 229 |  |  |  | 252 |  |  |  | — |  |  |  | 20 |  |  |  | 597 |
Production |  |  | 84 |  |  |  | 386 |  |  |  | 180 |  |  |  | (26 | ) |  |  | 7 |  |  |  | 631 |
Total agricultural |  |  | 180 |  |  |  | 615 |  |  |  | 432 |  |  |  | (26 | ) |  |  | 27 |  |  |  | 1,228 |
Total commercial |  |  | 27,971 |  |  |  | 9,843 |  |  |  | 15,731 |  |  |  | (3,990 | ) |  |  | 575 |  |  |  | 50,130 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 6,087 |  |  |  | 219 |  |  |  | 615 |  |  |  | — |  |  |  | — |  |  |  | 6,921 |
Construction |  |  | 485 |  |  |  | 34 |  |  |  | (162 | ) |  |  | — |  |  |  | — |  |  |  | 357 |
HELOC |  |  | 835 |  |  |  | 23 |  |  |  | 500 |  |  |  | (19 | ) |  |  | — |  |  |  | 1,339 |
Junior lien |  |  | 264 |  |  |  | 19 |  |  |  | 1,023 |  |  |  | (638 | ) |  |  | 74 |  |  |  | 742 |
Total residential real estate |  |  | 7,671 |  |  |  | 295 |  |  |  | 1,976 |  |  |  | (657 | ) |  |  | 74 |  |  |  | 9,359 |
Other consumer |  |  | 201 |  |  |  | 13 |  |  |  | 382 |  |  |  | (186 | ) |  |  | 30 |  |  |  | 440 |
Total consumer |  |  | 7,872 |  |  |  | 308 |  |  |  | 2,358 |  |  |  | (843 | ) |  |  | 104 |  |  |  | 9,799 |
Total |  | $ | 35,843 |  |  | $ | 10,151 |  |  | $ | 18,089 |  |  | $ | (4,833 | ) |  | $ | 679 |  |  | $ | 59,929 |
(1) | The difference in the credit loss expense reported herein compared to the consolidated statements of income is associated with the credit loss expense of ($81) thousand related to off-balance sheet credit exposure and $133 thousand related to investment securities held-to-maturity.
​
|  | Year ended December 31, 2023 |
|  | Beginning |  |  | Adoption |  |  | Provision for |  |  | Loan |  |  | Loan |  |  | Ending |
(dollars in thousands) |  | Balance |  |  | of ASC 326 |  |  | Credit Losses(1) |  |  | Charge-offs |  |  | Recoveries |  |  | Balance |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 8,690 |  |  | $ | (535 | ) |  | $ | 827 |  |  | $ | (436 | ) |  | $ | 1,159 |  |  | $ | 9,705 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | 1,458 |  |  |  | 2,551 |  |  |  | 1,875 |  |  |  | — |  |  |  | 251 |  |  |  | 6,135 |
Multifamily |  |  | 1,062 |  |  |  | (162 | ) |  |  | 876 |  |  |  | — |  |  |  | — |  |  |  | 1,776 |
Non-owner occupied |  |  | 7,543 |  |  |  | 1,344 |  |  |  | (1,161 | ) |  |  | — |  |  |  | — |  |  |  | 7,726 |
Owner occupied |  |  | 4,188 |  |  |  | (1,324 | ) |  |  | (459 | ) |  |  | — |  |  |  | 44 |  |  |  | 2,449 |
Total commercial real estate |  |  | 14,251 |  |  |  | 2,409 |  |  |  | 1,131 |  |  |  | — |  |  |  | 295 |  |  |  | 18,086 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 281 |  |  |  | (86 | ) |  |  | (100 | ) |  |  | — |  |  |  | 1 |  |  |  | 96 |
Production |  |  | 250 |  |  |  | (76 | ) |  |  | (90 | ) |  |  | — |  |  |  | — |  |  |  | 84 |
Total agricultural |  |  | 531 |  |  |  | (162 | ) |  |  | (190 | ) |  |  | — |  |  |  | 1 |  |  |  | 180 |
Total commercial |  |  | 23,472 |  |  |  | 1,712 |  |  |  | 1,768 |  |  |  | (436 | ) |  |  | 1,455 |  |  |  | 27,971 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 5,495 |  |  |  | 1,800 |  |  |  | (1,201 | ) |  |  | (9 | ) |  |  | 2 |  |  |  | 6,087 |
Construction |  |  | 345 |  |  |  | 468 |  |  |  | (328 | ) |  |  | — |  |  |  | — |  |  |  | 485 |
HELOC |  |  | 951 |  |  |  | 59 |  |  |  | (214 | ) |  |  | (40 | ) |  |  | 79 |  |  |  | 835 |
Junior lien |  |  | 352 |  |  |  | (85 | ) |  |  | 24 |  |  |  | (77 | ) |  |  | 50 |  |  |  | 264 |
Total residential real estate |  |  | 7,143 |  |  |  | 2,242 |  |  |  | (1,719 | ) |  |  | (126 | ) |  |  | 131 |  |  |  | 7,671 |
Other consumer |  |  | 531 |  |  |  | (97 | ) |  |  | (274 | ) |  |  | (51 | ) |  |  | 92 |  |  |  | 201 |
Total consumer |  |  | 7,674 |  |  |  | 2,145 |  |  |  | (1,993 | ) |  |  | (177 | ) |  |  | 223 |  |  |  | 7,872 |
Total |  | $ | 31,146 |  |  | $ | 3,857 |  |  | $ | (225 | ) |  | $ | (613 | ) |  | $ | 1,678 |  |  | $ | 35,843 |
(1) | The difference in the credit loss expense reported herein compared to the consolidated statements of income is associated with the credit loss expense of $2.2 million related to off-balance sheet credit exposure and $40 thousand related to investment securities held-to-maturity.
|  | Year ended December 31, 2022 |
|  | Beginning |  |  | Provision for |  |  | Loan |  |  | Loan |  |  | Ending |
|  | Balance |  |  | Loan Losses |  |  | Charge-offs |  |  | Recoveries |  |  | Balance |
(dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 9,218 |  |  | $ | 950 |  |  | $ | (1,396 | ) |  | $ | 461 |  |  | $ | 9,233 |
Real estate construction |  |  | 810 |  |  |  | 551 |  |  |  | — |  |  |  | 76 |  |  |  | 1,437 |
Commercial real estate |  |  | 12,778 |  |  |  | (151 | ) |  |  | — |  |  |  | 134 |  |  |  | 12,761 |
Total commercial |  |  | 22,806 |  |  |  | 1,350 |  |  |  | (1,396 | ) |  |  | 671 |  |  |  | 23,431 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate first mortgage |  |  | 6,874 |  |  |  | (1,017 | ) |  |  | — |  |  |  | — |  |  |  | 5,857 |
Residential real estate junior lien |  |  | 1,380 |  |  |  | (344 | ) |  |  | — |  |  |  | 282 |  |  |  | 1,318 |
Other revolving and installment |  |  | 512 |  |  |  | 11 |  |  |  | (153 | ) |  |  | 170 |  |  |  | 540 |
Total consumer |  |  | 8,766 |  |  |  | (1,350 | ) |  |  | (153 | ) |  |  | 452 |  |  |  | 7,715 |
Total |  | $ | 31,572 |  |  | $ | — |  |  | $ | (1,549 | ) |  | $ | 1,123 |  |  | $ | 31,146 |
​ The ACL on loans at December 31, 2024, was $59.9 million, an increase of $24.1 million, or 67.2%, since December 31, 2023. The increase was primarily due to the acquisition of HMNF, which resulted in an additional ACL on PCD acquired loans of $10.2 million and a day one provision for credit losses on non-PCD acquired loans of $7.3 million. In the second quarter of 2024, the Company completed a periodic assessment of significant model inputs and assumptions within its discounted cash flow analysis used for estimating the ACL on loans. Refreshed assumptions were incorporated and did not result in any material changes to the methodology. As of December 31, 2024 and 2023, the significant model inputs and assumptions used within the discounted cash flow model for purposes of estimating the ACL on loans were: Macroeconomic (loss) drivers: As of December 31, 2024 and 2023, the following loss drivers for each loan segment were used to calculate the expected PD over the forecast and reversion period: ​
| ● | Commercial & Industrial – National Unemployment; Change in National GDP
| ● | CRE – Construction, Land & Development – National Unemployment; Change in National GDP
| ● | CRE – Multifamily – National Unemployment; Change in National GDP
| ● | CRE – Non-Owner Occupied – National Unemployment; Change in National GDP
| ● | CRE – Owner Occupied – National Unemployment; Change in National GDP
| ● | Agricultural Land – (None)
| ● | Agricultural Production – (None)
| ● | Residential – 1st Lien – National Unemployment; Change in National Home Price Index (“HPI”)
| ● | Residential – Construction – National Unemployment; Change in National HPI
| ● | Residential – HELOC – National Unemployment; Change in National HPI
| ● | Residential – Junior Lien – National Unemployment; Change in National HPI
| ● | Consumer – National Unemployment; Change in National GDP
| ● | Paycheck Protection Program – (None)
​ ​ Credit Concentrations The Company focuses on maintaining a well-balanced and diversified loan portfolio. Despite such efforts, it is recognized that credit concentrations may occasionally emerge as a result of economic conditions, changes in local demand, natural loan growth and runoff. To identify credit concentrations effectively, all C&I and owner occupied real estate loans are assigned Standard Industrial Classification codes, North American Industry Classification System codes, and state and county codes. Property type coding is used for investment real estate. There were no other industry concentrations exceeding 10% of the Company's total loan portfolio as of December 31, 2024 and 2023. ​ Credit Quality Indicators The Company’s consumer loan portfolio is primarily comprised of secured loans that are evaluated at origination on a centralized basis against standardized underwriting criteria. The Company generally does not risk rate consumer loans unless a default event such as bankruptcy or extended nonperformance takes place. Credit quality for the consumer loan portfolio is measured by delinquency rates, nonaccrual amounts and actual losses incurred. These loans are rated as either performing or non-performing. The Company assigns a risk rating to all commercial loans, except pools of homogeneous loans, and performs detailed internal and external reviews of risk rated loans over a certain threshold to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by the Company’s regulators. During the internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which the borrowers operate, completes stress testing of economic factors and evaluates the estimated fair values of collateral securing the loans. These credit quality indicators are used to assign a risk rating to each individual loan. The Company’s ratings are aligned to pass and criticized categories. The criticized category includes special mention, substandard, and doubtful risk ratings. The risk ratings are defined as follows:
| ● | Pass: A pass loan is a credit with no existing or known potential weaknesses deserving of management’s close attention.
| ● | Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, this potential weakness may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification.
| ● | Substandard: Loans classified as substandard are not adequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. Well-defined weaknesses include a borrower’s lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time, or the failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
| ● | Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
| ● | Loss: Loans classified as loss are considered uncollectible and charged off immediately.
​ The following table sets forth the amortized cost basis of loans by credit quality indicator and vintage based on the most recent analysis performed, as of December 31, 2024:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |  |
(dollars in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  |  | Loans Amortized |  |  |  |  |
As of December 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 209,001 |  |  | $ | 141,028 |  |  | $ | 61,254 |  |  | $ | 34,645 |  |  | $ | 38,342 |  |  | $ | 36,136 |  |  | $ | 111,194 |  |  | $ | 631,600 |
Special mention |  |  | 1,367 |  |  |  | 495 |  |  |  | 3,286 |  |  |  | 2,239 |  |  |  | 5,575 |  |  |  | 1 |  |  |  | 1,651 |  |  |  | 14,614 |
Substandard |  |  | — |  |  |  | 12,663 |  |  |  | 220 |  |  |  | 780 |  |  |  | 3,154 |  |  |  | 2,447 |  |  |  | 1,198 |  |  |  | 20,462 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 51 |  |  |  | — |  |  |  | 51 |
Subtotal |  | $ | 210,368 |  |  | $ | 154,186 |  |  | $ | 64,760 |  |  | $ | 37,664 |  |  | $ | 47,071 |  |  | $ | 38,635 |  |  | $ | 114,043 |  |  | $ | 666,727 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | 218 |  |  | $ | 2 |  |  | $ | 397 |  |  | $ | 2,768 |  |  | $ | 342 |  |  | $ | — |  |  | $ | 3,727 |
CRE − Construction, land and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 97,244 |  |  | $ | 112,845 |  |  | $ | 40,890 |  |  | $ | 1,560 |  |  | $ | 517 |  |  | $ | 1,187 |  |  | $ | 2,801 |  |  | $ | 257,044 |
Special mention |  |  | — |  |  |  | — |  |  |  | 172 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 172 |
Substandard |  |  | 5,406 |  |  |  | — |  |  |  | 31,585 |  |  |  | — |  |  |  | — |  |  |  | 170 |  |  |  | 300 |  |  |  | 37,461 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 102,650 |  |  | $ | 112,845 |  |  | $ | 72,647 |  |  | $ | 1,560 |  |  | $ | 517 |  |  | $ | 1,357 |  |  | $ | 3,101 |  |  | $ | 294,677 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
CRE − Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 35,112 |  |  | $ | 62,982 |  |  | $ | 138,698 |  |  | $ | 33,782 |  |  | $ | 33,157 |  |  | $ | 32,204 |  |  | $ | — |  |  | $ | 335,935 |
Special mention |  |  | — |  |  |  | — |  |  |  | 7,644 |  |  |  | 272 |  |  |  | 1,241 |  |  |  | — |  |  |  | — |  |  |  | 9,157 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 17,732 |  |  |  | 299 |  |  |  | — |  |  |  | 18,031 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 35,112 |  |  | $ | 62,982 |  |  | $ | 146,342 |  |  | $ | 34,054 |  |  | $ | 52,130 |  |  | $ | 32,503 |  |  | $ | — |  |  | $ | 363,123 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
CRE − Non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 189,068 |  |  | $ | 149,368 |  |  | $ | 223,349 |  |  | $ | 98,309 |  |  | $ | 71,432 |  |  | $ | 188,617 |  |  | $ | 1,709 |  |  | $ | 921,852 |
Special mention |  |  | — |  |  |  | — |  |  |  | 1,694 |  |  |  | 8,603 |  |  |  | — |  |  |  | 4,148 |  |  |  | 4,195 |  |  |  | 18,640 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,767 |  |  |  | 6,347 |  |  |  | 12,419 |  |  |  | — |  |  |  | 26,533 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 189,068 |  |  | $ | 149,368 |  |  | $ | 225,043 |  |  | $ | 114,679 |  |  | $ | 77,779 |  |  | $ | 205,184 |  |  | $ | 5,904 |  |  | $ | 967,025 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
CRE − Owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 63,721 |  |  | $ | 41,918 |  |  | $ | 60,788 |  |  | $ | 44,957 |  |  | $ | 38,941 |  |  | $ | 91,804 |  |  | $ | 1,652 |  |  | $ | 343,781 |
Special mention |  |  | 451 |  |  |  | — |  |  |  | — |  |  |  | 937 |  |  |  | 2,981 |  |  |  | 2,735 |  |  |  | — |  |  |  | 7,104 |
Substandard |  |  | — |  |  |  | 311 |  |  |  | 3,023 |  |  |  | 2,694 |  |  |  | — |  |  |  | 13,538 |  |  |  | 967 |  |  |  | 20,533 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 64,172 |  |  | $ | 42,229 |  |  | $ | 63,811 |  |  | $ | 48,588 |  |  | $ | 41,922 |  |  | $ | 108,077 |  |  | $ | 2,619 |  |  | $ | 371,418 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | 12 |  |  | $ | 97 |  |  | $ | — |  |  | $ | — |  |  | $ | 128 |  |  | $ | — |  |  | $ | 237 |
Agricultural − Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 10,496 |  |  | $ | 8,864 |  |  | $ | 14,369 |  |  | $ | 5,840 |  |  | $ | 5,103 |  |  | $ | 8,473 |  |  | $ | 120 |  |  | $ | 53,265 |
Special mention |  |  | 69 |  |  |  | 1,612 |  |  |  | 3,275 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,956 |
Substandard |  |  | — |  |  |  | 303 |  |  |  | 2,166 |  |  |  | — |  |  |  | 609 |  |  |  | — |  |  |  | — |  |  |  | 3,078 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 10,565 |  |  | $ | 10,779 |  |  | $ | 19,810 |  |  | $ | 5,840 |  |  | $ | 5,712 |  |  | $ | 8,473 |  |  | $ | 120 |  |  | $ | 61,299 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Agricultural − Production |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 10,445 |  |  | $ | 6,440 |  |  | $ | 4,356 |  |  | $ | 724 |  |  | $ | 1,121 |  |  | $ | 582 |  |  | $ | 34,527 |  |  | $ | 58,195 |
Special mention |  |  | 130 |  |  |  | 704 |  |  |  | — |  |  |  | — |  |  |  | 420 |  |  |  | — |  |  |  | 1,518 |  |  |  | 2,772 |
Substandard |  |  | — |  |  |  | — |  |  |  | 1,987 |  |  |  | — |  |  |  | — |  |  |  | 54 |  |  |  | — |  |  |  | 2,041 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 10,575 |  |  | $ | 7,144 |  |  | $ | 6,343 |  |  | $ | 724 |  |  | $ | 1,541 |  |  | $ | 636 |  |  | $ | 36,045 |  |  | $ | 63,008 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 26 |  |  | $ | — |  |  | $ | 26 |
Residential real estate − First lien |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 49,414 |  |  | $ | 144,460 |  |  | $ | 226,993 |  |  | $ | 251,006 |  |  | $ | 127,200 |  |  | $ | 118,958 |  |  | $ | — |  |  | $ | 918,031 |
Nonperforming |  |  | — |  |  |  | 576 |  |  |  | — |  |  |  | 744 |  |  |  | 12 |  |  |  | 1,656 |  |  |  | — |  |  |  | 2,988 |
Subtotal |  | $ | 49,414 |  |  | $ | 145,036 |  |  | $ | 226,993 |  |  | $ | 251,750 |  |  | $ | 127,212 |  |  | $ | 120,614 |  |  | $ | — |  |  | $ | 921,019 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Residential real estate − Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 19,229 |  |  | $ | 6,449 |  |  | $ | 1,900 |  |  | $ | 1,289 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 28,867 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | 4,680 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,680 |
Subtotal |  | $ | 19,229 |  |  | $ | 6,449 |  |  | $ | 6,580 |  |  | $ | 1,289 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 33,547 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Residential real estate − HELOC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 3,290 |  |  | $ | 5,558 |  |  | $ | 6,217 |  |  | $ | 1,622 |  |  | $ | 939 |  |  | $ | 2,717 |  |  | $ | 140,707 |  |  | $ | 161,050 |
Nonperforming |  |  | — |  |  |  | 35 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 74 |  |  |  | 1,350 |  |  |  | 1,459 |
Subtotal |  | $ | 3,290 |  |  | $ | 5,593 |  |  | $ | 6,217 |  |  | $ | 1,622 |  |  | $ | 939 |  |  | $ | 2,791 |  |  | $ | 142,057 |  |  | $ | 162,509 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 19 |  |  | $ | — |  |  | $ | 19 |
Residential real estate − Junior lien |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 7,762 |  |  | $ | 11,557 |  |  | $ | 9,553 |  |  | $ | 4,990 |  |  | $ | 2,760 |  |  | $ | 4,178 |  |  | $ | 50 |  |  | $ | 40,850 |
Nonperforming |  |  | 1,775 |  |  |  | — |  |  |  | 300 |  |  |  | 108 |  |  |  | — |  |  |  | 1,027 |  |  |  | — |  |  |  | 3,210 |
Subtotal |  | $ | 9,537 |  |  | $ | 11,557 |  |  | $ | 9,853 |  |  | $ | 5,098 |  |  | $ | 2,760 |  |  | $ | 5,205 |  |  | $ | 50 |  |  | $ | 44,060 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 638 |  |  | $ | — |  |  | $ | 638 |
Other consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 9,618 |  |  | $ | 4,695 |  |  | $ | 4,853 |  |  | $ | 502 |  |  | $ | 2,541 |  |  | $ | 4,069 |  |  | $ | 17,505 |  |  | $ | 43,783 |
Nonperforming |  |  | — |  |  |  | 11 |  |  |  | 272 |  |  |  | — |  |  |  | 7 |  |  |  | 49 |  |  |  | — |  |  |  | 339 |
Subtotal |  | $ | 9,618 |  |  | $ | 4,706 |  |  | $ | 5,125 |  |  | $ | 502 |  |  | $ | 2,548 |  |  | $ | 4,118 |  |  | $ | 17,505 |  |  | $ | 44,122 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | 8 |  |  | $ | 3 |  |  | $ | 150 |  |  | $ | 4 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 186 |
Total loans |  | $ | 713,598 |  |  | $ | 712,874 |  |  | $ | 853,524 |  |  | $ | 503,370 |  |  | $ | 360,131 |  |  | $ | 527,593 |  |  | $ | 321,444 |  |  | $ | 3,992,534 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | 238 |  |  | $ | 102 |  |  | $ | 547 |  |  | $ | 2,772 |  |  | $ | 1,174 |  |  | $ | — |  |  | $ | 4,833 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |  |
(dollars in thousands) |  | Term Loans Amortized Cost Basis by Origination Year |  |  | Loans Amortized |  |  |  |  |
As of December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 189,643 |  |  | $ | 83,233 |  |  | $ | 66,837 |  |  | $ | 62,367 |  |  | $ | 31,859 |  |  | $ | 14,879 |  |  | $ | 83,522 |  |  | $ | 532,340 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | 464 |  |  |  | 4,844 |  |  |  | 236 |  |  |  | 6,328 |  |  |  | 94 |  |  |  | 2,513 |  |  |  | 15,361 |  |  |  | 29,840 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 190,107 |  |  | $ | 88,077 |  |  | $ | 67,073 |  |  | $ | 68,695 |  |  | $ | 31,953 |  |  | $ | 17,392 |  |  | $ | 98,883 |  |  | $ | 562,180 |
Gross charge-offs for the year ended |  | $ | 39 |  |  | $ | — |  |  | $ | 49 |  |  | $ | 11 |  |  | $ | 247 |  |  | $ | 90 |  |  | $ | — |  |  | $ | 436 |
CRE − Construction, land and development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 29,902 |  |  | $ | 57,944 |  |  | $ | 14,326 |  |  | $ | 122 |  |  | $ | — |  |  | $ | 952 |  |  | $ | 121 |  |  | $ | 103,367 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 20,667 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20,667 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 29,902 |  |  | $ | 78,611 |  |  | $ | 14,326 |  |  | $ | 122 |  |  | $ | — |  |  | $ | 952 |  |  | $ | 121 |  |  | $ | 124,034 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
CRE − Multifamily |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 71,994 |  |  | $ | 67,368 |  |  | $ | 16,637 |  |  | $ | 48,643 |  |  | $ | 24,581 |  |  | $ | 15,435 |  |  | $ | 135 |  |  | $ | 244,793 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 310 |  |  |  | — |  |  |  | 310 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 71,994 |  |  | $ | 67,368 |  |  | $ | 16,637 |  |  | $ | 48,643 |  |  | $ | 24,581 |  |  | $ | 15,745 |  |  | $ | 135 |  |  | $ | 245,103 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
CRE − Non-owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 154,813 |  |  | $ | 127,550 |  |  | $ | 79,046 |  |  | $ | 62,857 |  |  | $ | 69,269 |  |  | $ | 69,680 |  |  | $ | 5,121 |  |  | $ | 568,336 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 875 |  |  |  | 143 |  |  |  | — |  |  |  | 1,018 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 154,813 |  |  | $ | 127,550 |  |  | $ | 79,046 |  |  | $ | 62,857 |  |  | $ | 70,144 |  |  | $ | 69,823 |  |  | $ | 5,121 |  |  | $ | 569,354 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
CRE − Owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 39,030 |  |  | $ | 55,337 |  |  | $ | 41,623 |  |  | $ | 36,339 |  |  | $ | 22,340 |  |  | $ | 66,574 |  |  | $ | 2,538 |  |  | $ | 263,781 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 262 |  |  |  | — |  |  |  | 262 |
Substandard |  |  | — |  |  |  | 587 |  |  |  | 2,872 |  |  |  | — |  |  |  | 2,815 |  |  |  | 1,306 |  |  |  | — |  |  |  | 7,580 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 39,030 |  |  | $ | 55,924 |  |  | $ | 44,495 |  |  | $ | 36,339 |  |  | $ | 25,155 |  |  | $ | 68,142 |  |  | $ | 2,538 |  |  | $ | 271,623 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Agricultural − Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 6,424 |  |  | $ | 15,294 |  |  | $ | 4,721 |  |  | $ | 5,958 |  |  | $ | 672 |  |  | $ | 7,763 |  |  | $ | — |  |  | $ | 40,832 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 6,424 |  |  | $ | 15,294 |  |  | $ | 4,721 |  |  | $ | 5,958 |  |  | $ | 672 |  |  | $ | 7,763 |  |  | $ | — |  |  | $ | 40,832 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Agricultural − Production |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 7,890 |  |  | $ | 5,858 |  |  | $ | 854 |  |  | $ | 1,904 |  |  | $ | 2,744 |  |  | $ | 174 |  |  | $ | 16,717 |  |  | $ | 36,141 |
Special mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 7,890 |  |  | $ | 5,858 |  |  | $ | 854 |  |  | $ | 1,904 |  |  | $ | 2,744 |  |  | $ | 174 |  |  | $ | 16,717 |  |  | $ | 36,141 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Residential real estate − First lien |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 61,201 |  |  | $ | 190,749 |  |  | $ | 217,146 |  |  | $ | 108,100 |  |  | $ | 33,102 |  |  | $ | 87,213 |  |  | $ | 284 |  |  | $ | 697,795 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 105 |  |  |  | — |  |  |  | 105 |
Subtotal |  | $ | 61,201 |  |  | $ | 190,749 |  |  | $ | 217,146 |  |  | $ | 108,100 |  |  | $ | 33,102 |  |  | $ | 87,318 |  |  | $ | 284 |  |  | $ | 697,900 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 9 |
Residential real estate − Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 10,978 |  |  | $ | 16,428 |  |  | $ | 1,573 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 28,979 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 10,978 |  |  | $ | 16,428 |  |  | $ | 1,573 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 28,979 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Residential real estate − HELOC |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 7,470 |  |  | $ | 6,835 |  |  | $ | 789 |  |  | $ | 1,184 |  |  | $ | 308 |  |  | $ | 1,341 |  |  | $ | 100,388 |  |  | $ | 118,315 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 7,470 |  |  | $ | 6,835 |  |  | $ | 789 |  |  | $ | 1,184 |  |  | $ | 308 |  |  | $ | 1,341 |  |  | $ | 100,388 |  |  | $ | 118,315 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 40 |  |  | $ | — |  |  | $ | 40 |
Residential real estate − Junior lien |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 10,938 |  |  | $ | 8,820 |  |  | $ | 5,157 |  |  | $ | 3,673 |  |  | $ | 1,461 |  |  | $ | 3,939 |  |  | $ | 50 |  |  | $ | 34,038 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,781 |  |  |  | 1,781 |
Subtotal |  | $ | 10,938 |  |  | $ | 8,820 |  |  | $ | 5,157 |  |  | $ | 3,673 |  |  | $ | 1,461 |  |  | $ | 3,939 |  |  | $ | 1,831 |  |  | $ | 35,819 |
Gross charge-offs for the year ended |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 77 |  |  | $ | — |  |  | $ | 77 |
Other consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 5,320 |  |  | $ | 6,395 |  |  | $ | 980 |  |  | $ | 4,489 |  |  | $ | 1,554 |  |  | $ | 952 |  |  | $ | 9,613 |  |  | $ | 29,303 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Subtotal |  | $ | 5,320 |  |  | $ | 6,395 |  |  | $ | 980 |  |  | $ | 4,489 |  |  | $ | 1,554 |  |  | $ | 952 |  |  | $ | 9,613 |  |  | $ | 29,303 |
Gross charge-offs for the year ended |  | $ | 4 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 31 |  |  | $ | 6 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 51 |
Total loans |  | $ | 596,067 |  |  | $ | 667,909 |  |  | $ | 452,797 |  |  | $ | 341,964 |  |  | $ | 191,674 |  |  | $ | 273,541 |  |  | $ | 235,631 |  |  | $ | 2,759,583 |
Gross charge-offs for the year ended |  | $ | 43 |  |  | $ | 2 |  |  | $ | 58 |  |  | $ | 42 |  |  | $ | 253 |  |  | $ | 215 |  |  | $ | — |  |  | $ | 613 |
​ Past Due and Nonaccrual Loans The Company closely monitors the performance of its loan portfolio. A loan is placed on non-accrual when the financial condition of the borrower is deteriorating, payment in full of both principal and interest is not expected as scheduled or principal or interest has been in default for 90 days or more. Exceptions may be made if the asset is secured by collateral sufficient to satisfy both the principal and accrued interest in full and collection is reasonably assured. When one loan to a borrower is placed on non-accrual, all other loans to the borrower are re-evaluated to determine if they should also be placed on non-accrual. All previously accrued and unpaid interest is reversed at that time. A loan will return to accrual when collection of principal and interest is assured and the borrower has demonstrated timely payments of principal and interest for a reasonable period, generally at least six months. The following tables present past due aging analysis of total loans outstanding, by portfolio segment, as of December 31, 2024 and 2023, respectively:
|  | December 31, 2024 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 90 Days |  |  |  |  |  |  |  |  |
|  | Accruing |  |  | 30 - 59 Days |  |  | 60 - 89 Days |  |  | or More |  |  |  |  |  |  | Total |
(dollars in thousands) |  | Current |  |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Nonaccrual |  |  | Loans |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 654,073 |  |  | $ | 903 |  |  | $ | 133 |  |  | $ | 8,400 |  |  | $ | 3,218 |  |  | $ | 666,727 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | 264,633 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 30,044 |  |  |  | 294,677 |
Multifamily |  |  | 363,123 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 363,123 |
Non-owner occupied |  |  | 961,808 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 5,217 |  |  |  | 967,025 |
Owner occupied |  |  | 369,176 |  |  |  | 225 |  |  |  | — |  |  |  | — |  |  |  | 2,017 |  |  |  | 371,418 |
Total commercial real estate |  |  | 1,958,740 |  |  |  | 225 |  |  |  | — |  |  |  | — |  |  |  | 37,278 |  |  |  | 1,996,243 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 60,690 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 609 |  |  |  | 61,299 |
Production |  |  | 62,269 |  |  |  | 87 |  |  |  | — |  |  |  | — |  |  |  | 652 |  |  |  | 63,008 |
Total agricultural |  |  | 122,959 |  |  |  | 87 |  |  |  | — |  |  |  | — |  |  |  | 1,261 |  |  |  | 124,307 |
Total commercial |  |  | 2,735,772 |  |  |  | 1,215 |  |  |  | 133 |  |  |  | 8,400 |  |  |  | 41,757 |  |  |  | 2,787,277 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 915,167 |  |  |  | 2,104 |  |  |  | 707 |  |  |  | 53 |  |  |  | 2,988 |  |  |  | 921,019 |
Construction |  |  | 28,867 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,680 |  |  |  | 33,547 |
HELOC |  |  | 160,430 |  |  |  | 169 |  |  |  | 450 |  |  |  | — |  |  |  | 1,460 |  |  |  | 162,509 |
Junior lien |  |  | 40,454 |  |  |  | 396 |  |  |  | — |  |  |  | — |  |  |  | 3,210 |  |  |  | 44,060 |
Total residential real estate |  |  | 1,144,918 |  |  |  | 2,669 |  |  |  | 1,157 |  |  |  | 53 |  |  |  | 12,338 |  |  |  | 1,161,135 |
Other consumer |  |  | 43,651 |  |  |  | 103 |  |  |  | 30 |  |  |  | — |  |  |  | 338 |  |  |  | 44,122 |
Total consumer |  |  | 1,188,569 |  |  |  | 2,772 |  |  |  | 1,187 |  |  |  | 53 |  |  |  | 12,676 |  |  |  | 1,205,257 |
Total |  | $ | 3,924,341 |  |  | $ | 3,987 |  |  | $ | 1,320 |  |  | $ | 8,453 |  |  | $ | 54,433 |  |  | $ | 3,992,534 |
|  | December 31, 2023 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 90 Days |  |  |  |  |  |  |  |  |
|  | Accruing |  |  | 30 - 59 Days |  |  | 60 - 89 Days |  |  | or More |  |  |  |  |  |  | Total |
(dollars in thousands) |  | Current |  |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Nonaccrual |  |  | Loans |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 554,602 |  |  | $ | 844 |  |  | $ | — |  |  | $ | 139 |  |  | $ | 6,595 |  |  | $ | 562,180 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | 124,034 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 124,034 |
Multifamily |  |  | 245,103 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 245,103 |
Non-owner occupied |  |  | 569,267 |  |  |  | 87 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 569,354 |
Owner occupied |  |  | 270,467 |  |  |  | 41 |  |  |  | — |  |  |  | — |  |  |  | 1,115 |  |  |  | 271,623 |
Total commercial real estate |  |  | 1,208,871 |  |  |  | 128 |  |  |  | — |  |  |  | — |  |  |  | 1,115 |  |  |  | 1,210,114 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 40,832 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 40,832 |
Production |  |  | 36,061 |  |  |  | 80 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 36,141 |
Total agricultural |  |  | 76,893 |  |  |  | 80 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 76,973 |
Total commercial |  |  | 1,840,366 |  |  |  | 1,052 |  |  |  | — |  |  |  | 139 |  |  |  | 7,710 |  |  |  | 1,849,267 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 695,807 |  |  |  | 901 |  |  |  | 554 |  |  |  | — |  |  |  | 638 |  |  |  | 697,900 |
Construction |  |  | 28,979 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28,979 |
HELOC |  |  | 117,540 |  |  |  | 597 |  |  |  | — |  |  |  | — |  |  |  | 178 |  |  |  | 118,315 |
Junior lien |  |  | 35,680 |  |  |  | 69 |  |  |  | — |  |  |  | — |  |  |  | 70 |  |  |  | 35,819 |
Total residential real estate |  |  | 878,006 |  |  |  | 1,567 |  |  |  | 554 |  |  |  | — |  |  |  | 886 |  |  |  | 881,013 |
Other consumer |  |  | 29,086 |  |  |  | 170 |  |  |  | 47 |  |  |  | — |  |  |  | — |  |  |  | 29,303 |
Total consumer |  |  | 907,092 |  |  |  | 1,737 |  |  |  | 601 |  |  |  | — |  |  |  | 886 |  |  |  | 910,316 |
Total |  | $ | 2,747,458 |  |  | $ | 2,789 |  |  | $ | 601 |  |  | $ | 139 |  |  | $ | 8,596 |  |  | $ | 2,759,583 |
​ In calculating expected credit losses, the Company includes loans on nonaccrual status and loans 90 days or more past due and still accruing. The following table presents the amortized cost basis on nonaccrual status loans and loans 90 days or more past due and still accruing as of December 31, 2024 and 2023:
|  | As of December 31, 2024 |
|  |  |  |  |  |  |  |  |  | 90 Days |
|  | Nonaccrual |  |  |  |  |  |  | or More |
|  | with no Allowance |  |  |  |  |  |  | Past Due |
(dollars in thousands) |  | for Credit Losses |  |  | Nonaccrual |  |  | and Accruing |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 2,952 |  |  | $ | 3,218 |  |  | $ | 8,400 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | 24,638 |  |  |  | 30,044 |  |  |  | — |
Multifamily |  |  | — |  |  |  | — |  |  |  | — |
Non-owner occupied |  |  | 5,217 |  |  |  | 5,217 |  |  |  | — |
Owner occupied |  |  | 1,706 |  |  |  | 2,017 |  |  |  | — |
Total commercial real estate |  |  | 31,561 |  |  |  | 37,278 |  |  |  | — |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 609 |  |  |  | 609 |  |  |  | — |
Production |  |  | 652 |  |  |  | 652 |  |  |  | — |
Total agricultural |  |  | 1,261 |  |  |  | 1,261 |  |  |  | — |
Total commercial |  |  | 35,774 |  |  |  | 41,757 |  |  |  | 8,400 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 2,614 |  |  |  | 2,988 |  |  |  | 53 |
Construction |  |  | 4,680 |  |  |  | 4,680 |  |  |  | — |
HELOC |  |  | — |  |  |  | 1,460 |  |  |  | — |
Junior lien |  |  | 2,696 |  |  |  | 3,210 |  |  |  | — |
Total residential real estate |  |  | 9,990 |  |  |  | 12,338 |  |  |  | 53 |
Other consumer |  |  | — |  |  |  | 338 |  |  |  | — |
Total consumer |  |  | 9,990 |  |  |  | 12,676 |  |  |  | 53 |
Total |  | $ | 45,764 |  |  | $ | 54,433 |  |  | $ | 8,453 |
​
|  | December 31, 2023 |
|  |  |  |  |  |  |  |  |  | 90 Days |
|  | Nonaccrual |  |  |  |  |  |  | or More |
|  | with no Allowance |  |  |  |  |  |  | Past Due |
(dollars in thousands) |  | for Credit Losses |  |  | Nonaccrual |  |  | and Accruing |
Commercial |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 79 |  |  | $ | 6,595 |  |  | $ | 139 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | — |  |  |  | — |  |  |  | — |
Multifamily |  |  | — |  |  |  | — |  |  |  | — |
Non-owner occupied |  |  | — |  |  |  | — |  |  |  | — |
Owner occupied |  |  | 95 |  |  |  | 1,115 |  |  |  | — |
Total commercial real estate |  |  | 95 |  |  |  | 1,115 |  |  |  | — |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | — |  |  |  | — |  |  |  | — |
Production |  |  | — |  |  |  | — |  |  |  | — |
Total agricultural |  |  | — |  |  |  | — |  |  |  | — |
Total commercial |  |  | 174 |  |  |  | 7,710 |  |  |  | 139 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 632 |  |  |  | 638 |  |  |  | — |
Construction |  |  | — |  |  |  | — |  |  |  | — |
HELOC |  |  | 115 |  |  |  | 178 |  |  |  | — |
Junior lien |  |  | 70 |  |  |  | 70 |  |  |  | — |
Total residential real estate |  |  | 817 |  |  |  | 886 |  |  |  | — |
Other consumer |  |  | — |  |  |  | — |  |  |  | — |
Total consumer |  |  | 817 |  |  |  | 886 |  |  |  | — |
Total |  | $ | 991 |  |  | $ | 8,596 |  |  | $ | 139 |
Interest income that would have been recognized if loans on nonaccrual status had been current in accordance with their original terms for the years ended December 31, 2024, 2023, and 2022 is estimated to have been $4.8 million, $0.5 million, and $0.2 million, respectively. The Company’s policy is to reverse previously recorded interest income when a loan is placed on nonaccrual. As a result, the Company did not record any interest income on its nonaccrual loans for the years ended years ended December 31, 2024, 2023 and 2022. As of December 31, 2024 and 2023, total accrued interest receivable on loans, which had been excluded from reported amortized cost basis on loans; was $16.4 million and $12.2 million, respectively, and was reported within accrued interest receivable on the consolidated statements of condition. An allowance was not carried on the accrued interest receivable at either date. The following table presents the amortized cost basis of collateral dependent loans, by the primary collateral type, which are individually evaluated to determine credit losses, and the related ACL allocated to these loans, as of December 31, 2024:
|  | As of December 31, 2024 |
|  | Primary Type of Collateral |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Allowance for |
(dollars in thousands) |  | Real estate |  |  | Equipment |  |  | Other |  |  | Total |  |  | Credit Losses |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 2,885 |  |  | $ | 275 |  |  | $ | — |  |  | $ | 3,160 |  |  | $ | 4 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | 30,044 |  |  |  | — |  |  |  | — |  |  |  | 30,044 |  |  |  | 4,984 |
Multifamily |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-owner occupied |  |  | 5,217 |  |  |  | — |  |  |  | — |  |  |  | 5,217 |  |  |  | — |
Owner occupied |  |  | 1,936 |  |  |  | — |  |  |  | — |  |  |  | 1,936 |  |  |  | 9 |
Total commercial real estate |  |  | 37,197 |  |  |  | — |  |  |  | — |  |  |  | 37,197 |  |  |  | 4,993 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | 609 |  |  |  | — |  |  |  | — |  |  |  | 609 |  |  |  | — |
Production |  |  | — |  |  |  | 652 |  |  |  | — |  |  |  | 652 |  |  |  | — |
Total agricultural |  |  | 609 |  |  |  | 652 |  |  |  | — |  |  |  | 1,261 |  |  |  | — |
Total commercial |  |  | 40,691 |  |  |  | 927 |  |  |  | — |  |  |  | 41,618 |  |  |  | 4,997 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 2,514 |  |  |  | — |  |  |  | — |  |  |  | 2,514 |  |  |  | 7 |
Construction |  |  | 4,680 |  |  |  | — |  |  |  | — |  |  |  | 4,680 |  |  |  | — |
HELOC |  |  | 1,366 |  |  |  | — |  |  |  | — |  |  |  | 1,366 |  |  |  | 252 |
Junior lien |  |  | 3,105 |  |  |  | — |  |  |  | — |  |  |  | 3,105 |  |  |  | 330 |
Total residential real estate |  |  | 11,665 |  |  |  | — |  |  |  | — |  |  |  | 11,665 |  |  |  | 589 |
Other consumer |  |  | — |  |  |  | — |  |  |  | 289 |  |  |  | 289 |  |  |  | 50 |
Total consumer |  |  | 11,665 |  |  |  | — |  |  |  | 289 |  |  |  | 11,954 |  |  |  | 639 |
Total |  | $ | 52,356 |  |  | $ | 927 |  |  | $ | 289 |  |  | $ | 53,572 |  |  | $ | 5,636 |
|  | As of December 31, 2023 |
|  | Primary Type of Collateral |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Allowance for |
(dollars in thousands) |  | Real estate |  |  | Equipment |  |  | Other |  |  | Total |  |  | Credit Losses |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 6,124 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,124 |  |  | $ | 2,384 |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land and development |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Multifamily |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Non-owner occupied |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
Owner occupied |  |  | 695 |  |  |  |  |  |  |  | 96 |  |  |  | 791 |  |  |  | 601 |
Total commercial real estate |  |  | 695 |  |  |  | — |  |  |  | 96 |  |  |  | 791 |  |  |  | 601 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Land |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Production |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total agricultural |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total commercial |  |  | 6,819 |  |  |  | — |  |  |  | 96 |  |  |  | 6,915 |  |  |  | 2,985 |
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First lien |  |  | 638 |  |  |  | — |  |  |  | — |  |  |  | 638 |  |  |  | 3 |
Construction |  |  | — |  |  |  |  |  |  |  | — |  |  |  | — |  |  |  | — |
HELOC |  |  | 64 |  |  |  | 22 |  |  |  | — |  |  |  | 86 |  |  |  | — |
Junior lien |  |  | 70 |  |  |  | — |  |  |  | 93 |  |  |  | 163 |  |  |  | 6 |
Total residential real estate |  |  | 772 |  |  |  | 22 |  |  |  | 93 |  |  |  | 887 |  |  |  | 9 |
Other consumer |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total consumer |  |  | 772 |  |  |  | 22 |  |  |  | 93 |  |  |  | 887 |  |  |  | 9 |
Total |  | $ | 7,591 |  |  | $ | 22 |  |  | $ | 189 |  |  | $ | 7,802 |  |  | $ | 2,994 |
Collateral dependent loans are loans for which the repayment is expected to be provided substantially by the underlying collateral and there are no other available and reliable sources of repayment. Loan Modifications to Borrowers Experiencing Financial Difficulty Effective January 1, 2023, the Company evaluates all loan modifications in accordance with ASU 2022-02. Under ASU 2022-02, a loan is evaluated to consider whether the loan, as modified, represents a new loan or is a continuation of an existing loan. In cases where a borrower experiences financial difficulty, the Company may make certain concessions for which the terms of the loan are modified with the intention to minimize future losses and improve collectability. Loans experiencing financial difficulty can include modifications for an interest rate reduction below current market rates, a forgiveness of principal balance, an extension of the loan term, an-other than significant payment delay, or some combination of similar types of modifications. The following table presents the amortized cost basis of loans as of December 31, 2024, by class of type of modification, that were both experiencing financial difficulty and modified during the year ended December 31, 2024. There were no loans that were modified to borrowers experiencing financial difficulty during the year ended December 31, 2023. 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 as of December 31, 2024, is also presented below:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Combination Term |  |  | Combination Term |  |  |  |  |
|  | Interest Rate |  |  | Principal |  |  | Term |  |  | Payment |  |  | Extension and |  |  | Extension and Interest |  |  | Total % |
(dollars in thousands) |  | Reduction |  |  | Forgiveness |  |  | Extension |  |  | Delay |  |  | Principal Forgiveness |  |  | Rate Reduction |  |  | of Portfolio |
CRE − Construction, land and development |  | $ | 24,638 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3,840 |  |  |  | 9.7 | %
The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the year ended December 31, 2024:
|  | Weighted Average |  |  |  |  |  |  | Weighted Average |
|  | Interest Rate |  |  | Principal |  |  | Term Extension |
(dollars in thousands) |  | Reduction |  |  | Forgiveness |  |  | (Years) |
CRE − Construction, land and development |  |  | 2.4 | % |  | $ | — |  |  |  | 1.4 |
The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts and relevant factors are considered while assessing the adequacy of the ACL. For the years ended December 31, 2024 and 2023, there were no modified loans to borrowers experiencing financial difficulty that were past due or for which the borrower subsequently defaulted.

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for financing receivable. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 12A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481933/310-10-55-12A Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-42 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 44 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-44 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-20/tableOfContent + Details
Name: | us-gaap_FinancingReceivablesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration