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Allowance for Credit Losses | 12 Months Ended
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Dec. 31, 2024
Text Block [Abstract] |
Allowance for Credit Losses | NOTE 5 - ALLOWANCE FOR CREDIT LOSSES The following tables present, by portfolio segment, the changes in the allowance for credit losses, the ending allocation of the allowance for losses and the loan balances outstanding for the years ended December 31, 2024, 2023 and 2022. Allowance for credit losses:
December 31, 2024 |  | Beginning balance |  |  | Charge-offs |  |  | Recoveries |  |  | Provision (Credit) |  |  | Ending Balance |
Commercial & Agriculture |  | $ | 7,587 |  |  | $ | (2,197 | ) |  | $ | 255 |  |  | $ | 941 |  |  | $ | 6,586 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 4,723 |  |  |  | — |  |  |  | — |  |  |  | (396 | ) |  |  | 4,327 |
Non-Owner Occupied |  |  | 12,056 |  |  |  | (672 | ) |  |  | 18 |  |  |  | 2 |  |  |  | 11,404 |
Residential Real Estate |  |  | 8,489 |  |  |  | (83 | ) |  |  | 197 |  |  |  | 3,263 |  |  |  | 11,866 |
Real Estate Construction |  |  | 3,388 |  |  |  | — |  |  |  | 12 |  |  |  | 308 |  |  |  | 3,708 |
Farm Real Estate |  |  | 260 |  |  |  | — |  |  |  | — |  |  |  | (34 | ) |  |  | 226 |
Lease Financing Receivable |  |  | 297 |  |  |  | (881 | ) |  |  | 20 |  |  |  | 1,925 |  |  |  | 1,361 |
Consumer and Other |  |  | 341 |  |  |  | (82 | ) |  |  | 37 |  |  |  | (105 | ) |  |  | 191 |
Unallocated |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | (19 | ) |  |  | — |
Total |  | $ | 37,160 |  |  | $ | (3,915 | ) |  | $ | 539 |  |  | $ | 5,885 |  |  | $ | 39,669 |
For the year ended December 31, 2024, the Company provided $5,885 to the allowance for credit losses, as compared to a provision of $4,435 for the year ended December 31, 2023. The increase in the provision was to support strong organic loan growth in the portfolio. For the year ended December 31, 2024, the allowance for Commercial & Agriculture loans decreased due to an increase in charge-offs, mainly due to two commercial relationships. The allowance for Commercial Real Estate – Owner Occupied loans decreased due to a decrease in loan balances. The allowance for Commercial Real Estate – Non-Owner Occupied loans decreased due to an increase in charge-offs on two commercial relationships. The allowance for Residential Real Estate loans increased due to an increase in loan balances and a decrease in prepayment speeds from 13.94% to 7.30%. The allowance for Lease Financing Receivable increased as a result of an increase in charge-offs. The allowance for Consumer and Other loans decreased due to a decrease in loan balances. Allowance for credit losses:
December 31, 2023 |  | Beginning balance |  |  | CECL Adoption Day 1 Impact |  |  | Impact of Adopting ASC 326 - PCD Loans 1 |  | Charge-offs |  |  | Recoveries |  |  | Provision (Credit) |  |  | Ending Balance |
Commercial & Agriculture |  | $ | 3,011 |  |  | $ | 429 |  |  | $ | — |  | $ | (1,300 | ) |  | $ | 177 |  |  | $ | 5,270 |  |  | $ | 7,587 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 4,565 |  |  |  | 1,075 |  |  |  | 19 |  |  | — |  |  |  | 15 |  |  |  | (951 | ) |  |  | 4,723 |
Non-Owner Occupied |  |  | 14,138 |  |  |  | (2,847 | ) |  |  | — |  |  | — |  |  |  | 46 |  |  |  | 719 |  |  |  | 12,056 |
Residential Real Estate |  |  | 3,145 |  |  |  | 2,762 |  |  |  | 166 |  |  | (17 | ) |  |  | 134 |  |  |  | 2,299 |  |  |  | 8,489 |
Real Estate Construction |  |  | 2,293 |  |  |  | 1,502 |  |  |  | — |  |  | — |  |  |  | 37 |  |  |  | (444 | ) |  |  | 3,388 |
Farm Real Estate |  |  | 291 |  |  |  | (28 | ) |  |  | — |  |  | — |  |  |  | — |  |  |  | (3 | ) |  |  | 260 |
Lease Financing Receivable |  |  | 429 |  |  |  | 1,743 |  |  |  | 635 |  |  | — |  |  |  | — |  |  |  | (2,510 | ) |  |  | 297 |
Consumer and Other |  |  | 98 |  |  |  | 201 |  |  |  | 77 |  |  | (114 | ) |  |  | 43 |  |  |  | 36 |  |  |  | 341 |
Unallocated |  |  | 541 |  |  |  | (541 | ) |  |  | — |  |  | — |  |  |  | — |  |  |  | 19 |  |  |  | 19 |
Total |  | $ | 28,511 |  |  | $ | 4,296 |  |  | $ | 897 |  | $ | (1,431 | ) |  | $ | 452 |  |  | $ | 4,435 |  |  | $ | 37,160 |
1 Day 1 impact of $1,668 of adopting ASC 326-PCD loans was netted by changes in estimates of $771 |
A one-time CECL adoption adjustment of $4,296 along with a $897 adjustment related to ASC 326 adoption was incurred in the first quarter of 2023. For the year ended December 31, 2023, the allowance for Commercial & Agriculture loans increased due to an increase in general reserves required for this type as a result of an increase in loan balances, accompanied by an increase in classified loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Owner Occupied loans increased due to an increase in general reserves required for this type as a result of increased loan balances, partially offset by a decrease in classified loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Non-Owner Occupied loans decreased due to a decrease in general reserves required as a result of an increase in loan balances, offset by a decrease in loss rates and classified loan balances. This was represented as a decrease in the provision. The allowance for Residential Real Estate loans increased due to an increase in general reserves required for this type as a result of increased loan balances. The result was represented by an increase in the provision. The allowance for Consumer and Other loans decreased due to a decrease in loan balances. This was represented as a decrease in the provision. Allowance for credit losses:
December 31, 2022 |  | Beginning balance |  |  | Charge-offs |  |  | Recoveries |  |  | Provision (Credit) |  |  | Ending Balance |
Commercial & Agriculture |  | $ | 2,600 |  |  | $ | (22 | ) |  | $ | 24 |  |  | $ | 409 |  |  | $ | 3,011 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 4,464 |  |  |  | — |  |  |  | 42 |  |  |  | 59 |  |  |  | 4,565 |
Non-Owner Occupied |  |  | 13,860 |  |  |  | — |  |  |  | 74 |  |  |  | 204 |  |  |  | 14,138 |
Residential Real Estate |  |  | 2,597 |  |  |  | (97 | ) |  |  | 163 |  |  |  | 482 |  |  |  | 3,145 |
Real Estate Construction |  |  | 1,810 |  |  |  | — |  |  |  | 4 |  |  |  | 479 |  |  |  | 2,293 |
Farm Real Estate |  |  | 287 |  |  |  | — |  |  |  | 6 |  |  |  | (2 | ) |  |  | 291 |
Lease Financing Receivable |  |  | — |  |  |  | (23 | ) |  |  | — |  |  |  | 452 |  |  |  | 429 |
Consumer and Other |  |  | 176 |  |  |  | (80 | ) |  |  | 27 |  |  |  | (25 | ) |  |  | 98 |
Unallocated |  |  | 847 |  |  |  | — |  |  |  | — |  |  |  | (306 | ) |  |  | 541 |
Total |  | $ | 26,641 |  |  | $ | (222 | ) |  | $ | 340 |  |  | $ | 1,752 |  |  | $ | 28,511 |
For the year ended December 31, 2022, the Company provided $1,752 to the allowance for credit losses, as compared to a provision of $830 for the year ended December 31, 2021. The increase in the provision was to support strong organic loan growth in the portfolio. Of this increase, $452,000 was provided to cover lease production from our CLF subsidiary since acquisition. For the year ended December 31, 2022, the allowance for Commercial & Agriculture loans increased due to an increase in general reserves required for this type as a result of an increase in loan balances, accompanied by an increase in classified loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Owner Occupied loans increased due to an increase in general reserves required for this type as a result of increased loan balances, partially offset by a decrease in classified loan balances. The result was represented as an increase in the provision. The allowance for Commercial Real Estate – Non-Owner Occupied loans increased due to an increase in general reserves required as a result of an increase in loan balances, partially offset by a decrease in loss rates and classified loan balances. This was represented as an increase in the provision. The allowance for Residential Real Estate loans increased due to an increase in general reserves required for this type as a result of increased loan balances. The result was represented by an increase in the provision. The allowance for Real Estate Construction loans increased due to an increase in loan balances. This was represented as an increase in the provision. The allowance for Consumer and Other loans decreased due to a decrease in loan balances. This was represented as a decrease in the provision. Management determined that the unallocated amount was appropriate and within the relevant range for the allowance that was reflective of the risk in the portfolio at December 31, 2022. The following tables represent credit exposures by internally assigned risk ratings for the periods ended December 31, 2024 and 2023. The risk rating analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled or at all. The Company's internal credit risk grading system is based on experiences with similarly graded loans. The Company’s internally assigned grades are as follows: • Pass – loans which are protected by the current net worth and paying capacity of the obligor or by the value of the underlying collateral. • Special Mention – loans where a potential weakness or risk exists, which could cause a more serious problem if not corrected. • Substandard – loans that have a well-defined weakness based on objective evidence and are characterized by the distinct possibility that Civista will sustain some loss if the deficiencies are not corrected. • Doubtful – loans classified as doubtful have all the weaknesses inherent in a substandard asset. In addition, these weaknesses make collection or liquidation in full highly questionable and improbable, based on existing circumstances. • Loss – loans classified as a loss are considered uncollectible, or of such value that continuance as an asset is not warranted. Homogeneous loans, generally Residential Real Estate, Real Estate Construction, and Consumer and Other loans, are not risk-graded, except when collateral is used for a business purpose. These loans are monitored based on performance, with performing loans included as Pass and nonperforming loans included in Substandard.
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
December 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Loans |  |  | Total |
Commercial & Agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 74,397 |  |  | $ | 55,540 |  |  | $ | 37,078 |  |  | $ | 33,164 |  |  | $ | 7,477 |  |  | $ | 13,449 |  |  | $ | 86,804 |  |  | $ | 307,909 |
Special Mention |  |  | 255 |  |  |  | 1,225 |  |  |  | 511 |  |  |  | 32 |  |  |  | 1,286 |  |  |  | — |  |  |  | 4,173 |  |  |  | 7,482 |
Substandard |  |  | 5,629 |  |  |  | 1,942 |  |  |  | 413 |  |  |  | 89 |  |  |  | 3 |  |  |  | 332 |  |  |  | 3,004 |  |  |  | 11,412 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,685 |  |  |  | 1,685 |
Total Commercial & Agriculture |  | $ | 80,281 |  |  | $ | 58,707 |  |  | $ | 38,002 |  |  | $ | 33,285 |  |  | $ | 8,766 |  |  | $ | 13,781 |  |  | $ | 95,666 |  |  | $ | 328,488 |
Commercial & Agriculture: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | 1,520 |  |  | $ | 339 |  |  | $ | 204 |  |  | $ | 53 |  |  | $ | 48 |  |  | $ | 33 |  |  | $ | — |  |  | $ | 2,197 |
Commercial Real Estate - Owner Occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 26,677 |  |  | $ | 40,344 |  |  | $ | 72,901 |  |  | $ | 62,663 |  |  | $ | 52,478 |  |  | $ | 97,293 |  |  | $ | 8,358 |  |  | $ | 360,714 |
Special Mention |  |  | — |  |  |  | 3,525 |  |  |  | 4,987 |  |  |  | 855 |  |  |  | 383 |  |  |  | 302 |  |  |  | 178 |  |  |  | 10,230 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,189 |  |  |  | 234 |  |  |  | 3,423 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial Real Estate - Owner Occupied |  | $ | 26,677 |  |  | $ | 43,869 |  |  | $ | 77,888 |  |  | $ | 63,518 |  |  | $ | 52,861 |  |  | $ | 100,784 |  |  | $ | 8,770 |  |  | $ | 374,367 |
Commercial Real Estate - Owner Occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial Real Estate - Non-Owner Occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 59,635 |  |  | $ | 227,608 |  |  | $ | 299,079 |  |  | $ | 170,534 |  |  | $ | 121,313 |  |  | $ | 280,870 |  |  | $ | 29,219 |  |  | $ | 1,188,258 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 7,166 |  |  |  | — |  |  |  | — |  |  |  | 10,533 |  |  |  | — |  |  |  | 17,699 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8,000 |  |  |  | — |  |  |  | 12,034 |  |  |  | — |  |  |  | 20,034 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial Real Estate - Non-Owner Occupied |  | $ | 59,635 |  |  | $ | 227,608 |  |  | $ | 306,245 |  |  | $ | 178,534 |  |  | $ | 121,313 |  |  | $ | 303,437 |  |  | $ | 29,219 |  |  | $ | 1,225,991 |
Commercial Real Estate - Non-Owner Occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 672 |  |  | $ | — |  |  | $ | 672 |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 97,552 |  |  | $ | 127,090 |  |  | $ | 113,877 |  |  | $ | 90,198 |  |  | $ | 64,528 |  |  | $ | 91,785 |  |  | $ | 168,840 |  |  | $ | 753,870 |
Special Mention |  |  | 71 |  |  |  | 286 |  |  |  | — |  |  |  | 576 |  |  |  | 92 |  |  |  | 481 |  |  |  | 426 |  |  |  | 1,932 |
Substandard |  |  | — |  |  |  | 316 |  |  |  | 967 |  |  |  | 859 |  |  |  | 675 |  |  |  | 2,655 |  |  |  | 1,180 |  |  |  | 6,652 |
Doubtful |  |  | 1,115 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 300 |  |  |  | 1,415 |
Total Residential Real Estate |  | $ | 98,738 |  |  | $ | 127,692 |  |  | $ | 114,844 |  |  | $ | 91,633 |  |  | $ | 65,295 |  |  | $ | 94,921 |  |  | $ | 170,746 |  |  | $ | 763,869 |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | 2 |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 78 |  |  | $ | — |  |  | $ | 83 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
December 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Loans |  |  | Total |
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 90,417 |  |  | $ | 133,695 |  |  | $ | 52,564 |  |  | $ | 10,348 |  |  | $ | 6,841 |  |  | $ | 2,369 |  |  | $ | 9,449 |  |  | $ | 305,683 |
Special Mention |  |  | 154 |  |  |  | — |  |  |  | — |  |  |  | 155 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 309 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate Construction |  | $ | 90,571 |  |  | $ | 133,695 |  |  | $ | 52,564 |  |  | $ | 10,503 |  |  | $ | 6,841 |  |  | $ | 2,369 |  |  | $ | 9,449 |  |  | $ | 305,992 |
Real Estate Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Farm Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 571 |  |  | $ | 2,125 |  |  | $ | 495 |  |  | $ | 2,099 |  |  | $ | 4,122 |  |  | $ | 11,525 |  |  | $ | 1,490 |  |  | $ | 22,427 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 388 |  |  |  | — |  |  |  | — |  |  |  | 158 |  |  |  | 62 |  |  |  | 608 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Farm Real Estate |  | $ | 571 |  |  | $ | 2,125 |  |  | $ | 883 |  |  | $ | 2,099 |  |  | $ | 4,122 |  |  | $ | 11,683 |  |  | $ | 1,552 |  |  | $ | 23,035 |
Farm Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 18,783 |  |  | $ | 16,516 |  |  | $ | 6,955 |  |  | $ | 1,563 |  |  | $ | 426 |  |  | $ | 65 |  |  | $ | — |  |  | $ | 44,308 |
Special Mention |  |  | 1,107 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,107 |
Substandard |  |  | — |  |  |  | 466 |  |  |  | 1,000 |  |  |  | — |  |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | 1,485 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | - |
Total Lease Financing Receivables |  | $ | 19,890 |  |  | $ | 16,982 |  |  | $ | 7,955 |  |  | $ | 1,563 |  |  | $ | 445 |  |  | $ | 65 |  |  | $ | — |  |  | $ | 46,900 |
Lease Financing Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | 199 |  |  | $ | 607 |  |  | $ | 12 |  |  | $ | 63 |  |  | $ | — |  |  | $ | — |  |  | $ | 881 |
Consumer and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,521 |  |  | $ | 3,717 |  |  | $ | 2,329 |  |  | $ | 1,787 |  |  | $ | 677 |  |  | $ | 206 |  |  | $ | 1,339 |  |  | $ | 12,576 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 3 |  |  |  | — |  |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 12 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Consumer and Other |  | $ | 2,521 |  |  | $ | 3,720 |  |  | $ | 2,329 |  |  | $ | 1,796 |  |  | $ | 677 |  |  | $ | 206 |  |  | $ | 1,339 |  |  | $ | 12,588 |
Consumer and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | 25 |  |  | $ | 7 |  |  | $ | 21 |  |  | $ | 5 |  |  | $ | 6 |  |  | $ | 18 |  |  | $ | — |  |  | $ | 82 |
Total Loans |  | $ | 378,884 |  |  | $ | 614,398 |  |  | $ | 600,710 |  |  | $ | 382,931 |  |  | $ | 260,320 |  |  | $ | 527,246 |  |  | $ | 316,741 |  |  | $ | 3,081,230 |
Total Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | 1,547 |  |  | $ | 545 |  |  | $ | 832 |  |  | $ | 73 |  |  | $ | 117 |  |  | $ | 801 |  |  | $ | — |  |  | $ | 3,915 |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Loans |  |  | Total |
Commercial & Agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 56,359 |  |  | $ | 64,250 |  |  | $ | 52,258 |  |  | $ | 17,622 |  |  | $ | 9,516 |  |  | $ | 14,088 |  |  | $ | 82,982 |  |  | $ | 297,075 |
Special Mention |  |  | 774 |  |  |  | — |  |  |  | 287 |  |  |  | 1,690 |  |  |  | — |  |  |  | 106 |  |  |  | 169 |  |  |  | 3,026 |
Substandard |  |  | 396 |  |  |  | 86 |  |  |  | 67 |  |  |  | 131 |  |  |  | 271 |  |  |  | 73 |  |  |  | 3,668 |  |  |  | 4,692 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial & Agriculture |  | $ | 57,529 |  |  | $ | 64,336 |  |  | $ | 52,612 |  |  | $ | 19,443 |  |  | $ | 9,787 |  |  | $ | 14,267 |  |  | $ | 86,819 |  |  | $ | 304,793 |
Commercial & Agriculture: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | 673 |  |  | $ | 532 |  |  | $ | — |  |  | $ | — |  |  | $ | 95 |  |  | $ | — |  |  | $ | 1,300 |
Commercial Real Estate - Owner Occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 36,030 |  |  | $ | 82,502 |  |  | $ | 67,904 |  |  | $ | 56,069 |  |  | $ | 29,784 |  |  | $ | 92,750 |  |  | $ | 5,844 |  |  | $ | 370,883 |
Special Mention |  |  | 526 |  |  |  | 217 |  |  |  | 739 |  |  |  | 517 |  |  |  | - |  |  |  | 188 |  |  |  | — |  |  |  | 2,187 |
Substandard |  |  | — |  |  |  | 231 |  |  |  | — |  |  |  | — |  |  |  | 3,098 |  |  |  | 922 |  |  |  | — |  |  |  | 4,251 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial Real Estate - Owner Occupied |  | $ | 36,556 |  |  | $ | 82,950 |  |  | $ | 68,643 |  |  | $ | 56,586 |  |  | $ | 32,882 |  |  | $ | 93,860 |  |  | $ | 5,844 |  |  | $ | 377,321 |
Commercial Real Estate - Owner Occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial Real Estate - Non-Owner Occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 183,439 |  |  | $ | 269,334 |  |  | $ | 198,832 |  |  | $ | 136,031 |  |  | $ | 120,659 |  |  | $ | 206,267 |  |  | $ | 23,016 |  |  | $ | 1,137,578 |
Special Mention |  |  | — |  |  |  | 5,774 |  |  |  | 6,171 |  |  |  | — |  |  |  | — |  |  |  | 8,688 |  |  |  | 277 |  |  |  | 20,910 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 122 |  |  |  | 3,284 |  |  |  | — |  |  |  | 3,406 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial Real Estate - Non-Owner Occupied |  | $ | 183,439 |  |  | $ | 275,108 |  |  | $ | 205,003 |  |  | $ | 136,031 |  |  | $ | 120,781 |  |  | $ | 218,239 |  |  | $ | 23,293 |  |  | $ | 1,161,894 |
Commercial Real Estate - Non-Owner Occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 90,770 |  |  | $ | 124,695 |  |  | $ | 97,661 |  |  | $ | 71,379 |  |  | $ | 33,534 |  |  | $ | 78,894 |  |  | $ | 157,083 |  |  | $ | 654,016 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 221 |  |  |  | 97 |  |  |  | — |  |  |  | 245 |  |  |  | — |  |  |  | 563 |
Substandard |  |  | 186 |  |  |  | 342 |  |  |  | 684 |  |  |  | 82 |  |  |  | 582 |  |  |  | 2,063 |  |  |  | 1,323 |  |  |  | 5,262 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Residential Real Estate |  | $ | 90,956 |  |  | $ | 125,037 |  |  | $ | 98,566 |  |  | $ | 71,558 |  |  | $ | 34,116 |  |  | $ | 81,202 |  |  | $ | 158,406 |  |  | $ | 659,841 |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | 6 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 11 |  |  | $ | — |  |  | $ | 17 |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Loans |  |  | Total |
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 108,606 |  |  | $ | 105,222 |  |  | $ | 20,960 |  |  | $ | 6,739 |  |  | $ | 2,699 |  |  | $ | 2,635 |  |  | $ | 9,335 |  |  | $ | 256,196 |
Special Mention |  |  | — |  |  |  | 1,226 |  |  |  | 926 |  |  |  | 2,019 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,171 |
Substandard |  |  | — |  |  |  | — |  |  |  | 42 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 42 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate Construction |  | $ | 108,606 |  |  | $ | 106,448 |  |  | $ | 21,928 |  |  | $ | 8,758 |  |  | $ | 2,699 |  |  | $ | 2,635 |  |  | $ | 9,335 |  |  | $ | 260,409 |
Real Estate Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | - |  |  | $ | — |  |  | $ | — |
Farm Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,207 |  |  | $ | 967 |  |  | $ | 2,256 |  |  | $ | 4,462 |  |  | $ | 789 |  |  | $ | 12,528 |  |  | $ | 1,292 |  |  | $ | 24,501 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 20 |  |  |  | — |  |  |  | 20 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 250 |  |  |  | — |  |  |  | 250 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Farm Real Estate |  | $ | 2,207 |  |  | $ | 967 |  |  | $ | 2,256 |  |  | $ | 4,462 |  |  | $ | 789 |  |  | $ | 12,798 |  |  | $ | 1,292 |  |  | $ | 24,771 |
Farm Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 28,177 |  |  | $ | 13,924 |  |  | $ | 6,620 |  |  | $ | 3,678 |  |  | $ | 1,725 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 54,125 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | - |
Substandard |  |  | — |  |  |  | 8 |  |  |  | 38 |  |  |  | 61 |  |  |  | 231 |  |  |  | 17 |  |  |  | — |  |  |  | 355 |
Doubtful |  |  | — |  |  |  | 139 |  |  |  | — |  |  |  | 15 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 162 |
Total Lease Financing Receivables |  | $ | 28,177 |  |  | $ | 14,071 |  |  | $ | 6,658 |  |  | $ | 3,754 |  |  | $ | 1,964 |  |  | $ | 18 |  |  | $ | - |  |  | $ | 54,642 |
Lease Financing Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Consumer and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 6,510 |  |  | $ | 4,135 |  |  | $ | 3,615 |  |  | $ | 1,578 |  |  | $ | 509 |  |  | $ | 248 |  |  | $ | 1,424 |  |  | $ | 18,019 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | 2 |  |  |  | 14 |  |  |  | 15 |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | 37 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Consumer and Other |  | $ | 6,510 |  |  | $ | 4,137 |  |  | $ | 3,629 |  |  | $ | 1,593 |  |  | $ | 509 |  |  | $ | 254 |  |  | $ | 1,424 |  |  | $ | 18,056 |
Consumer and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | 6 |  |  | $ | 40 |  |  | $ | 40 |  |  | $ | 7 |  |  | $ | 13 |  |  | $ | 3 |  |  | $ | 5 |  |  | $ | 114 |
Total Loans |  | $ | 513,980 |  |  | $ | 673,054 |  |  | $ | 459,295 |  |  | $ | 302,185 |  |  | $ | 203,527 |  |  | $ | 423,273 |  |  | $ | 286,413 |  |  | $ | 2,861,727 |
Total Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | 7 |  |  | $ | 719 |  |  | $ | 572 |  |  | $ | 7 |  |  | $ | 13 |  |  | $ | 109 |  |  | $ | 5 |  |  | $ | 1,431 |
The following tables include an aging analysis of the recorded investment of past due loans outstanding as of December 31, 2024 and 2023.
December 31, 2024 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or Greater |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Past Due 90 Days and Accruing |
Commercial & Agriculture |  | $ | 825 |  |  | $ | 114 |  |  | $ | 1,374 |  |  | $ | 2,313 |  |  | $ | 326,175 |  |  | $ | 328,488 |  |  | $ | — |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | — |  |  |  | — |  |  |  | 225 |  |  |  | 225 |  |  |  | 374,142 |  |  |  | 374,367 |  |  |  | 225 |
Non-Owner Occupied |  |  | 69 |  |  |  | 8,000 |  |  |  | 2,514 |  |  |  | 10,583 |  |  |  | 1,215,408 |  |  |  | 1,225,991 |  |  |  | — |
Residential Real Estate |  |  | 5,504 |  |  |  | 1,634 |  |  |  | 2,273 |  |  |  | 9,411 |  |  |  | 754,458 |  |  |  | 763,869 |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 305,992 |  |  |  | 305,992 |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23,035 |  |  |  | 23,035 |  |  |  | — |
Lease Financing Receivables |  |  | 575 |  |  |  | 351 |  |  |  | 909 |  |  |  | 1,835 |  |  |  | 45,065 |  |  |  | 46,900 |  |  |  | — |
Consumer and Other |  |  | 181 |  |  |  | 37 |  |  |  | 3 |  |  |  | 221 |  |  |  | 12,367 |  |  |  | 12,588 |  |  |  | — |
Total |  | $ | 7,154 |  |  | $ | 10,136 |  |  | $ | 7,298 |  |  | $ | 24,588 |  |  | $ | 3,056,642 |  |  | $ | 3,081,230 |  |  | $ | 225 |
December 31, 2023 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or Greater |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Past Due 90 Days and Accruing |
Commercial & Agriculture |  | $ | 1,228 |  |  | $ | 471 |  |  | $ | 1,999 |  |  | $ | 3,698 |  |  | $ | 301,095 |  |  | $ | 304,793 |  |  | $ | 73 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 4 |  |  |  | — |  |  |  | 123 |  |  |  | 127 |  |  |  | 377,194 |  |  |  | 377,321 |  |  |  | — |
Non-Owner Occupied |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 0 |  |  |  | 1,161,894 |  |  |  | 1,161,894 |  |  |  | — |
Residential Real Estate |  |  | 4,581 |  |  |  | 1,180 |  |  |  | 1,642 |  |  |  | 7,403 |  |  |  | 652,438 |  |  |  | 659,841 |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 260,409 |  |  |  | 260,409 |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 24,771 |  |  |  | 24,771 |  |  |  | — |
Lease Financing Receivables |  |  | 950 |  |  |  | 410 |  |  |  | 373 |  |  |  | 1,733 |  |  |  | 52,909 |  |  |  | 54,642 |  |  |  | — |
Consumer and Other |  |  | 172 |  |  |  | 23 |  |  |  | 2 |  |  |  | 197 |  |  |  | 17,859 |  |  |  | 18,056 |  |  |  | — |
Total |  | $ | 6,935 |  |  | $ | 2,084 |  |  | $ | 4,139 |  |  | $ | 13,158 |  |  | $ | 2,848,569 |  |  | $ | 2,861,727 |  |  | $ | 73 |
The following table presents loans on nonaccrual status as of December 31, 2024.
December 31, 2024 |  | Nonaccrual loans with a related ACL |  |  | Nonaccrual loans without a related ACL |  |  | Total Nonaccrual loans |  |  | Interest Income Recognized |
Commercial & Agriculture |  | $ | 8,901 |  |  | $ | 3,370 |  |  | $ | 12,271 |  |  | $ | 1 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 36 |  |  |  | — |  |  |  | 36 |  |  |  | 79 |
Non-Owner Occupied |  |  | 2,514 |  |  |  | 8,000 |  |  |  | 10,514 |  |  |  | — |
Residential Real Estate |  |  | 4,745 |  |  |  | 2,131 |  |  |  | 6,876 |  |  |  | 172 |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | - |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | - |  |  |  | — |
Lease Financing Receivables |  |  | 638 |  |  |  | 600 |  |  |  | 1,238 |  |  |  | — |
Consumer and Other |  |  | 15 |  |  |  | — |  |  |  | 15 |  |  |  | 4 |
Total |  | $ | 16,849 |  |  | $ | 14,101 |  |  | $ | 30,950 |  |  | $ | 256 |
The following table presents loans on nonaccrual status as of December 31, 2023.
December 31, 2023 |  | Nonaccrual loans with a related ACL |  |  | Nonaccrual loans without a related ACL |  |  | Total Nonaccrual loans |  |  | Interest Income Recognized |
Commercial & Agriculture |  | $ | 914 |  |  | $ | 4,891 |  |  | $ | 5,805 |  |  | $ | 9 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 269 |  |  |  | 3 |  |  |  | 272 |  |  |  | 7 |
Non-Owner Occupied |  |  | — |  |  |  | 1,167 |  |  |  | 1,167 |  |  |  | — |
Residential Real Estate |  |  | — |  |  |  | 4,633 |  |  |  | 4,633 |  |  |  | 26 |
Real Estate Construction |  |  | — |  |  |  | 41 |  |  |  | 41 |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Lease Financing Receivables |  |  | 15 |  |  |  | 492 |  |  |  | 507 |  |  |  | — |
Consumer and Other |  |  | — |  |  |  | 42 |  |  |  | 42 |  |  |  | 4 |
Total |  | $ | 1,198 |  |  | $ | 11,269 |  |  | $ | 12,467 |  |  | $ | 46 |
The following table presents loans on nonaccrual status as of December 31, 2022.
December 31, 2022 |  | Total Nonaccrual loans |  |  | Interest Income Recognized |
Commercial & Agriculture |  | $ | 774 |  |  | $ | — |
Commercial Real Estate: |  |  |  |  |  |
Owner Occupied |  |  | 386 |  |  |  | 143 |
Non-Owner Occupied |  |  | 1,109 |  |  |  | — |
Residential Real Estate |  |  | 3,926 |  |  |  | 73 |
Real Estate Construction |  |  | 221 |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |
Lease Financing Receivables |  |  | — |  |  |  | — |
Consumer and Other |  |  | 91 |  |  |  | 235 |
Total |  | $ | 6,507 |  |  | $ | 451 |
Nonaccrual Loans: Loans are considered for nonaccrual status upon reaching 90 days delinquency, unless the loan is well secured and in the process of collection, although Civista may be receiving partial payments of interest and partial repayments of principal on such loans. When a loan is placed on nonaccrual status, previously accrued but unpaid interest is deducted from interest income. A loan may be returned to accruing status only if one of three conditions are met: the loan is well-secured and none of the principal and interest has been past due for a minimum of 90 days; the borrower has made a minimum of six months payments; or the principal and interest payments are reasonably assured and a sustained period of performance has occurred, generally six months. The gross interest income that would have been recorded on nonaccrual loans in 2024, 2023 and 2022 if the loans had been current in accordance with their original terms and had been outstanding throughout the period or since origination, if held for part of the period, was $657, $446 and $384, respectively. The amount of interest income on such loans recognized on a cash basi s was $256 in 2024, $343 in 2023 and $451 in 2022. In accordance with the adoption of ASU 2022-02, Financial Instruments-Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, accounting guidance for Troubled Debt Restructurings ("TDRs") for creditors has been eliminated. New guidance with respect to recognition, measurement, and disclosures of loans for borrowers experiencing financial difficulties supersedes guidance on TDRs. Under ASU 2022-02, the Company is required to evaluate whether a loan modification represents a new loan or a continuation of an existing loan. The amendment enhanced existing disclosure requirements and introduced new requirements related to certain modifications of receivables made to borrowers experiencing financial difficulty under criteria of principal forgiveness, interest rate reduction, other-than-insignificant payment delay, or term extension. Of the loans modified as of December 31, 2024, $16.6 million were on non-accrual status and partial charge-offs have in some cases been taken against the outstanding balance. The allowance for credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each loan upon loan origination or acquisition. The starting point for the estimate of the allowance for credit losses is historical loss information, which includes losses from modifications of loans to borrowers experiencing financial difficulty. The Company uses probability of default/loss given default, discounted cash flows or remaining life method to determine the allowance for credit losses. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by loan category and type of modification granted during the year ended December 31, 2024. The percentage of the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of loan category is also presented below:
|  | Loans Modifications Made to Borrowers Experiencing Financial Difficulty |
|  | December 31, 2024 |
|  | (Dollars in Thousands) |
|  | Term Extension |  |  | Payment Deferral |
Loan Type |  | Amortized Cost Basis |  |  | Percent of total loans by category |  |  | Amortized Cost Basis |  |  | Percent of total loans by category |
Commercial & Agriculture |  | $ | 4,549 |  |  |  | 1.38 | % |  | $ | 435 |  |  |  | 0.13 | %
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Non-Owner Occupied |  |  | 8,000 |  |  |  | 0.65 | % |  |  | 2,514 |  |  |  | 0.21 | %
Residential Real Estate |  |  | 1,115 |  |  |  | 0.15 | % |  |  | — |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer and Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Loan Modifications |  | $ | 13,664 |  |  |  |  |  | $ | 2,949 |  |  |  |
The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty:
| Term Extension
Loan Type | Financial Effect
Commercial & Agriculture | - 6 month, 12 month and 62 month term extensions
Commercial Real Estate: |
Owner Occupied |
Non-Owner Occupied | - 6 month term extension
Residential Real Estate | - 35 month term extension
Real Estate Construction |
Farm Real Estate |
Consumer and Other |
| Payment Deferral
Loan Type | Financial Effect
Commercial & Agriculture | - 5 month payment deferral
Commercial Real Estate: |
Owner Occupied |
Non-Owner Occupied | - 5 month and 7.5 month payment deferral
Residential Real Estate |
Real Estate Construction |
Farm Real Estate |
Consumer and Other |
Upon the Company's determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. There were no modification loans that had a payment default during the year ended December 31, 2024 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty. There were no loans modified to borrowers experiencing financial difficulty during the period ended December 31, 2023. There were no loans modified in a troubled debt restructuring during the period ended December 31, 2022. The Company closely monitors the performance of the loans that were modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. Twelve of the modified loans are on nonaccrual as of December 31, 2024. Individually Evaluated Loans: Larger (greater than $350) Commercial & Agricultural and Commercial Real Estate loan relationships, as well as Residential Real Estate and Consumer loans and Lease financing receivables that are part of a larger relationship are individually evaluated on a quarterly basis, when they do not share similar risk characteristics with the collectively evaluated pools. These loans are analyzed to determine if it is probable that all amounts will not be collected according to the contractual terms of the loan agreement. If management determines that the value of the loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through an allowance estimate or a charge-off to the allowance. The Company’s policy for recognizing interest income on individually evaluated loans does not differ from its overall policy for interest recognition. The following tables present the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related allowance for credit losses allocated to these loans.
December 31, 2024 |  | Real Estate |  |  | Other |  |  | Allowance for Credit Losses |
Commercial & Agriculture |  | $ | — |  |  | $ | 8,179 |  |  | $ | 1,679 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | — |  |  |  | — |  |  |  | — |
Non-Owner Occupied |  |  | 10,514 |  |  |  | — |  |  |  | 674 |
Residential Real Estate |  |  | 2,131 |  |  |  | — |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |
Lease Financing Receivables |  |  | — |  |  |  | 665 |  |  |  | 6 |
Consumer and Other |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 12,645 |  |  | $ | 8,844 |  |  | $ | 2,359 |
December 31, 2023 |  | Real Estate |  |  | Other |  |  | Allowance for Credit Losses |
Commercial & Agriculture |  | $ | — |  |  | $ | 4,674 |  |  | $ | 945 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 308 |  |  |  | — |  |  |  | 37 |
Non-Owner Occupied |  |  | 1,167 |  |  |  | — |  |  |  | 268 |
Residential Real Estate |  |  | 149 |  |  |  | — |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |
Lease Financing Receivables |  |  | — |  |  |  | 61 |  |  |  | 15 |
Consumer and Other |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 1,624 |  |  | $ | 4,735 |  |  | $ | 1,265 |
Collateral-dependent loans consist primarily of Residential Real Estate, Commercial Real Estate and Commercial and Agricultural loans. These loans are individually evaluated when foreclosure is probable or when the repayment of the loan is expected to be provided substantially through the operation or sale of the underlying collateral. In the case of Commercial and Agricultural loans secured by equipment, the fair value of the collateral is estimated by third-party valuation experts. Loan balances are charged down to the underlying collateral value when they are deemed uncollectible. Note that the Company did not elect to use the collateral maintenance agreement practical expedient available under CECL. Foreclosed assets acquired in settlement of loans are carried at fair value less estimated costs to sell and are included in Other assets on the Consolidated Balance Sheet. As of December 31, 2024 and 2023, there were no foreclosed assets included in Other assets. As of December 31, 2024 and 2023, the Company had initiated formal foreclosure procedures on $669 a nd $1,018, respectively, of Residential Real Estate loans. Allowance for Credit Losses on Off-Balance-Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk from a contractual obligation to extend credit. The allowance for credit losses on off-balance sheet credit exposures is recorded within accrued expenses and other liabilities on the Consolidated Balance Sheet with adjustments recorded in provision for credit losses on the Consolidated Statements of Operations. The estimated credit loss includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The estimate of expected credit loss is based on the historical loss rate for the loan class in which the loan commitments would be classified as if funded. The following table lists the allowance for credit losses on off-balance sheet credit exposures as of December 31, 2024:
| Twelve Months Ended |
| December 31, |
| 2024 |  | 2023 |
Beginning of Period | $ | 3,901 |  | — |
CECL adoption adjustments |  | — |  |  | 3,386 |
Charge-offs |  | — |  |  | — |
Recoveries |  | — |  |  | — |
Provision |  | (521 | ) |  | 515 |
End of Period | $ | 3,380 |  |  | 3,901 |

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