XML 34 R25.htm IDEA: XBRL DOCUMENT v3.23.2
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2023
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS

16. SUBSEQUENT EVENTS

 

The Company had an equipment financing lease with a principal balance of $9.2 million as of June 30, 2023, which was downgraded to nonaccrual status as a result of a bankruptcy filing by the lessee subsequent to June 30, 2023. This lease was classified as special mention as of June 30, 2023 and subsequently downgraded to substandard during the third quarter of 2023. The Company presently believes that the fair value of the collateral will be sufficient to repay the outstanding principal balance but will continue to closely monitor the bankruptcy proceedings to evaluate changes as they occur. No additional allowance for credit losses was applied to this loan as of June 30, 2023.