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Allowance for Credit Losses | 3 Months Ended
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Mar. 31, 2025
Text Block [Abstract] |
Allowance for Credit Losses | (5) Allowance for Credit Losses The following table presents, by portfolio segment, the changes in the allowance for credit losses ("ACL") for the three months ended March 31, 2025 and 2024. Allowance for credit losses:
For the three months ended March 31, 2025 |  | Beginning balance |  |  | Charge-offs |  |  | Recoveries |  |  | Provision |  |  | Ending Balance |
Commercial & Agriculture |  | $ | 6,586 |  |  | $ | (72 | ) |  | $ | 291 |  |  | $ | (611 | ) |  | $ | 6,194 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 4,327 |  |  |  | — |  |  |  | — |  |  |  | 139 |  |  |  | 4,466 |
Non-Owner Occupied |  |  | 11,404 |  |  |  | (800 | ) |  |  | — |  |  |  | 808 |  |  |  | 11,412 |
Residential Real Estate |  |  | 11,866 |  |  |  | — |  |  |  | 19 |  |  |  | 570 |  |  |  | 12,455 |
Real Estate Construction |  |  | 3,708 |  |  |  | — |  |  |  | — |  |  |  | 309 |  |  |  | 4,017 |
Farm Real Estate |  |  | 226 |  |  |  | — |  |  |  | — |  |  |  | 38 |  |  |  | 264 |
Lease Financing Receivables |  |  | 1,361 |  |  |  | (90 | ) |  |  | 25 |  |  |  | (19 | ) |  |  | 1,277 |
Consumer and Other |  |  | 191 |  |  |  | (14 | ) |  |  | 8 |  |  |  | 14 |  |  |  | 199 |
Total |  | $ | 39,669 |  |  | $ | (976 | ) |  | $ | 343 |  |  | $ | 1,248 |  |  | $ | 40,284 |
For the three months ended March 31, 2025, the Company provided $1,248 to the allowance for credit losses, as compared to a provision of $2,042 for the three months ended March 31, 2024. The Company experienced an increase in the allowance for credit losses as our current expected credit loss ("CECL") model required higher provisions, primarily attributable to quantitative factors representing an increase in the forecasted unemployment rate, forecasted probability of default and lower prepayment speeds as well as loan growth during the period. In the commercial and agriculture portfolio, the company experienced a decrease in reserves primarily related to the decrease in specific reserves related to one client that made a large paydown during the quarter.
March 31, 2024 |  | Beginning balance |  |  | Charge-offs |  |  | Recoveries |  |  | Provision |  |  | Ending Balance |
Commercial & Agriculture |  | $ | 7,587 |  |  | $ | (212 | ) |  | $ | 152 |  |  | $ | 210 |  |  | $ | 7,737 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 4,723 |  |  |  | — |  |  |  | 3 |  |  |  | (74 | ) |  |  | 4,652 |
Non-Owner Occupied |  |  | 12,056 |  |  |  | (174 | ) |  |  | 5 |  |  |  | 1,081 |  |  |  | 12,968 |
Residential Real Estate |  |  | 8,489 |  |  |  | (13 | ) |  |  | 120 |  |  |  | 478 |  |  |  | 9,074 |
Real Estate Construction |  |  | 3,388 |  |  |  | — |  |  |  | 4 |  |  |  | 41 |  |  |  | 3,433 |
Farm Real Estate |  |  | 260 |  |  |  | — |  |  |  | — |  |  |  | 60 |  |  |  | 320 |
Lease Financing Receivables |  |  | 297 |  |  |  | (226 | ) |  |  | — |  |  |  | 288 |  |  |  | 359 |
Consumer and Other |  |  | 341 |  |  |  | (26 | ) |  |  | 14 |  |  |  | (23 | ) |  |  | 306 |
Unallocated |  |  | 19 |  |  |  | — |  |  |  | — |  |  |  | (19 | ) |  |  | 0 |
Total |  | $ | 37,160 |  |  | $ | (651 | ) |  | $ | 298 |  |  | $ | 2,042 |  |  | $ | 38,849 |
The Company’s internally assigned risk 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. Based on the most recent analysis performed, the risk category of loans at March 31, 2025, and year-to-date gross charge-offs as of March 31, 2025, by type and year of originations, was as follows:
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | Prior |  |  | Loans |  |  | Total |
Commercial & Agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 15,283 |  |  | $ | 71,588 |  |  | $ | 50,954 |  |  | $ | 33,330 |  |  | $ | 30,474 |  |  | $ | 19,220 |  |  | $ | 87,076 |  |  | $ | 307,925 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 1,020 |  |  |  | 359 |  |  |  | 28 |  |  |  | 1,168 |  |  |  | 6,471 |  |  |  | 9,046 |
Substandard |  |  | — |  |  |  | 4,928 |  |  |  | 2,011 |  |  |  | 741 |  |  |  | 56 |  |  |  | 331 |  |  |  | 3,958 |  |  |  | 12,025 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,631 |  |  |  | 1,631 |
Total Commercial & Agriculture |  | $ | 15,283 |  |  | $ | 76,516 |  |  | $ | 53,985 |  |  | $ | 34,430 |  |  | $ | 30,558 |  |  | $ | 20,719 |  |  | $ | 99,136 |  |  | $ | 330,627 |
Commercial & Agriculture: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 67 |  |  | $ | 5 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 72 |
Commercial Real Estate - Owner Occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 9,696 |  |  | $ | 30,535 |  |  | $ | 42,075 |  |  | $ | 71,877 |  |  | $ | 61,094 |  |  | $ | 140,004 |  |  | $ | 7,428 |  |  | $ | 362,709 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 1,855 |  |  |  | 3,625 |  |  |  | 848 |  |  |  | 2,103 |  |  |  | — |  |  |  | 8,431 |
Substandard |  |  | — |  |  |  | — |  |  |  | 1,631 |  |  |  | 1,488 |  |  |  | — |  |  |  | 3,134 |  |  |  | 702 |  |  |  | 6,955 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial Real Estate - Owner Occupied |  | $ | 9,696 |  |  | $ | 30,535 |  |  | $ | 45,561 |  |  | $ | 76,990 |  |  | $ | 61,942 |  |  | $ | 145,241 |  |  | $ | 8,130 |  |  | $ | 378,095 |
Commercial Real Estate - Owner Occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial Real Estate - Non-Owner Occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 6,903 |  |  | $ | 76,610 |  |  | $ | 236,533 |  |  | $ | 308,589 |  |  | $ | 164,883 |  |  | $ | 387,359 |  |  | $ | 26,873 |  |  | $ | 1,207,750 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,019 |  |  |  | 9,219 |  |  |  | 9,355 |  |  |  | — |  |  |  | 20,593 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 7,200 |  |  |  | 10,482 |  |  |  | — |  |  |  | 17,682 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Commercial Real Estate - Non-Owner Occupied |  | $ | 6,903 |  |  | $ | 76,610 |  |  | $ | 236,533 |  |  | $ | 310,608 |  |  | $ | 181,302 |  |  | $ | 407,196 |  |  | $ | 26,873 |  |  | $ | 1,246,025 |
Commercial Real Estate - Non-Owner Occupied: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 800 |  |  | $ | — |  |  | $ | — |  |  | $ | 800 |
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 10,580 |  |  | $ | 104,612 |  |  | $ | 124,498 |  |  | $ | 111,075 |  |  | $ | 89,082 |  |  | $ | 151,081 |  |  | $ | 173,222 |  |  | $ | 764,150 |
Special Mention |  |  | — |  |  |  | 68 |  |  |  | 286 |  |  |  | — |  |  |  | 570 |  |  |  | 328 |  |  |  | 350 |  |  |  | 1,602 |
Substandard |  |  | — |  |  |  | — |  |  |  | 510 |  |  |  | 1,556 |  |  |  | 645 |  |  |  | 2,467 |  |  |  | 905 |  |  |  | 6,083 |
Doubtful |  |  | — |  |  |  | 1,091 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 423 |  |  |  | 1,514 |
Total Residential Real Estate |  | $ | 10,580 |  |  | $ | 105,771 |  |  | $ | 125,294 |  |  | $ | 112,631 |  |  | $ | 90,297 |  |  | $ | 153,876 |  |  | $ | 174,900 |  |  | $ | 773,349 |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  | 2025 |  |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | Prior |  |  | Loans |  |  | Total |
Real Estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 7,301 |  |  | $ | 92,585 |  |  | $ | 125,442 |  |  | $ | 42,335 |  |  | $ | 4,755 |  |  | $ | 8,591 |  |  | $ | 10,470 |  |  | $ | 291,479 |
Special Mention |  |  | — |  |  |  | 208 |  |  |  | 747 |  |  |  | 5,000 |  |  |  | 155 |  |  |  | — |  |  |  | — |  |  |  | 6,110 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Real Estate Construction |  | $ | 7,301 |  |  | $ | 92,793 |  |  | $ | 126,189 |  |  | $ | 47,335 |  |  | $ | 4,910 |  |  | $ | 8,591 |  |  | $ | 10,470 |  |  | $ | 297,589 |
Real Estate Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Farm Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 53 |  |  | $ | 377 |  |  | $ | 2,098 |  |  | $ | 479 |  |  | $ | 2,078 |  |  | $ | 15,158 |  |  | $ | 1,469 |  |  | $ | 21,712 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 388 |  |  |  | — |  |  |  | 159 |  |  |  | 140 |  |  |  | 687 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Farm Real Estate |  | $ | 53 |  |  | $ | 377 |  |  | $ | 2,098 |  |  | $ | 867 |  |  | $ | 2,078 |  |  | $ | 15,317 |  |  | $ | 1,609 |  |  | $ | 22,399 |
Farm Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Lease Financing Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 4,030 |  |  | $ | 14,931 |  |  | $ | 15,344 |  |  | $ | 5,700 |  |  | $ | 1,247 |  |  | $ | 445 |  |  | $ | — |  |  |  | 41,697 |
Special Mention |  |  | 78 |  |  |  | 742 |  |  |  | 170 |  |  |  | 117 |  |  |  | 6 |  |  |  | 11 |  |  |  | — |  |  |  | 1,124 |
Substandard |  |  | — |  |  |  | 1,049 |  |  |  | 329 |  |  |  | 371 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,749 |
Doubtful |  |  | — |  |  |  | — |  |  |  | - |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Lease Financing Receivables |  | $ | 4,108 |  |  | $ | 16,722 |  |  | $ | 15,843 |  |  | $ | 6,188 |  |  | $ | 1,253 |  |  | $ | 456 |  |  | $ | — |  |  | $ | 44,570 |
Lease Financing Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 90 |
Consumer and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 655 |  |  | $ | 1,872 |  |  | $ | 3,349 |  |  | $ | 1,997 |  |  | $ | 1,490 |  |  | $ | 680 |  |  | $ | 1,313 |  |  | $ | 11,356 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 18 |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 26 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Consumer and Other |  | $ | 655 |  |  | $ | 1,872 |  |  | $ | 3,349 |  |  | $ | 2,015 |  |  | $ | 1,498 |  |  | $ | 680 |  |  | $ | 1,313 |  |  | $ | 11,382 |
Consumer and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 5 |  |  | $ | 5 |  |  | $ | 4 |  |  | $ | — |  |  | $ | — |  |  | $ | 14 |
Total Loans |  | $ | 54,579 |  |  | $ | 401,196 |  |  | $ | 608,852 |  |  | $ | 591,064 |  |  | $ | 373,838 |  |  | $ | 752,076 |  |  | $ | 322,431 |  |  | $ | 3,104,036 |
Total Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current-period charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 72 |  |  | $ | 100 |  |  | $ | 804 |  |  | $ | — |  |  | $ | — |  |  | $ | 976 |
The risk category of loans at December 31, 2024, and year-to-date gross charge-offs as of March 31, 2024, by type and year of originations, was as follows:
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  | 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 |  | $ | — |  |  | $ | 139 |  |  | $ | — |  |  | $ | 40 |  |  | $ | — |  |  | $ | 33 |  |  | $ | — |  |  | $ | 212 |
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 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 174 |  |  | $ | — |  |  | $ | 174 |
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 |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | $ | 13 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  | 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 |  | $ | — |  |  | $ | — |  |  | $ | 151 |  |  | $ | 12 |  |  | $ | 63 |  |  | $ | — |  |  | $ | — |  |  | $ | 226 |
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 |  | $ | — |  |  | $ | 2 |  |  | $ | 2 |  |  | $ | 5 |  |  | $ | 4 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 26 |
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 |  | $ | — |  |  | $ | 141 |  |  | $ | 153 |  |  | $ | 60 |  |  | $ | 67 |  |  | $ | 230 |  |  | $ | — |  |  | $ | 651 |
The following tables include an aging analysis of the recorded investment of past due loans outstanding as of March 31, 2025 and December 31, 2024.
March 31, 2025 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or Greater Past Due |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Past Due 90 Days and Accruing |
Commercial & Agriculture |  | $ | 9,315 |  |  | $ | 308 |  |  | $ | 1,800 |  |  | $ | 11,423 |  |  | $ | 319,204 |  |  | $ | 330,627 |  |  | $ | 146 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 7 |  |  |  | — |  |  |  | — |  |  |  | 7 |  |  |  | 378,088 |  |  |  | 378,095 |  |  |  | — |
Non-Owner Occupied |  |  | — |  |  |  | 67 |  |  |  | 8,234 |  |  |  | 8,301 |  |  |  | 1,237,724 |  |  |  | 1,246,025 |  |  |  | — |
Residential Real Estate |  |  | 2,970 |  |  |  | 1,196 |  |  |  | 1,880 |  |  |  | 6,046 |  |  |  | 767,303 |  |  |  | 773,349 |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 297,589 |  |  |  | 297,589 |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 22,399 |  |  |  | 22,399 |  |  |  | — |
Lease Financing Receivables |  |  | 3,008 |  |  |  | — |  |  |  | 352 |  |  |  | 3,360 |  |  |  | 41,210 |  |  |  | 44,570 |  |  |  | — |
Consumer and Other |  |  | 88 |  |  |  | 5 |  |  |  | 18 |  |  |  | 111 |  |  |  | 11,271 |  |  |  | 11,382 |  |  |  | — |
Total |  | $ | 15,388 |  |  | $ | 1,576 |  |  | $ | 12,284 |  |  | $ | 29,248 |  |  | $ | 3,074,788 |  |  | $ | 3,104,036 |  |  | $ | 146 |
December 31, 2024 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or Greater Past Due |  |  | 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 |
The following table presents loans on nonaccrual status as of March 31, 2025.
March 31, 2025 |  | Nonaccrual loans with a related ACL |  |  | Nonaccrual loans without a related ACL |  |  | Total Nonaccrual loans |
Commercial & Agriculture |  | $ | 7,351 |  |  | $ | 5,353 |  |  | $ | 12,704 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | — |  |  |  | 2,959 |  |  |  | 2,959 |
Non-Owner Occupied |  |  | 1,034 |  |  |  | 7,200 |  |  |  | 8,234 |
Residential Real Estate |  |  | 5,079 |  |  |  | 1,515 |  |  |  | 6,594 |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |
Lease Financing Receivables |  |  | 353 |  |  |  | 117 |  |  |  | 470 |
Consumer and Other |  |  | 28 |  |  |  | — |  |  |  | 28 |
Total |  | $ | 13,845 |  |  | $ | 17,144 |  |  | $ | 30,989 |
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 |
Commercial & Agriculture |  | $ | 8,901 |  |  | $ | 3,370 |  |  | $ | 12,271 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 36 |  |  |  | — |  |  |  | 36 |
Non-Owner Occupied |  |  | 2,514 |  |  |  | 8,000 |  |  |  | 10,514 |
Residential Real Estate |  |  | 4,745 |  |  |  | 2,131 |  |  |  | 6,876 |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | - |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | - |
Lease Financing Receivables |  |  | 638 |  |  |  | 600 |  |  |  | 1,238 |
Consumer and Other |  |  | 15 |  |  |  | — |  |  |  | 15 |
Total |  | $ | 16,849 |  |  | $ | 14,101 |  |  | $ | 30,950 |
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 the Company 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. Payments received on nonaccrual loans are applied to the unpaid principal balance. A loan may be returned to accruing status only if one of two 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 or the principal and interest payments are reasonably assured and a sustained period of performance has occurred, generally six months. Modifications to Borrowers Experiencing Financial Difficulty: There were no loans modified to borrowers experiencing financial difficulty during the three months ended March 31, 2025 and March 31, 2024. 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. 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. 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. There were no modification loans that had a payment default during the three months ended March 31, 2025 and March 31, 2024, and were modified during the twelve months prior to that default to borrowers experiencing financial difficulty. The following table presents the payment status of the loans that were modified to borrowers experiencing financial difficulties in the last twelve months ended March 31, 2025.
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days or Greater Past Due |  |  | Total Past Due |  | Current |  | Non-Accrual |
Commercial & Agriculture |  | $ | 2,863 |  |  | $ | — |  |  | $ | 435 |  |  | $ | 3,298 |  | $ | — |  | $ | 3,298 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | — |
Non-Owner Occupied |  |  | — |  |  |  | — |  |  |  | 8,234 |  |  |  | 8,234 |  |  | — |  |  | 8,234 |
Residential Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | — |
Lease Financing Receivables |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | — |
Consumer and Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  | — |  |  | — |
Total |  | $ | 2,863 |  |  | $ | — |  |  | $ | 8,669 |  |  | $ | 11,532 |  | $ | — |  | $ | 11,532 |
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 table presents 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 as of March 31, 2025 and December 31, 2024.
March 31, 2025 |  | Real Estate |  |  | Other |  |  | Allowance for Credit Losses |
Commercial & Agriculture |  | $ | — |  |  | $ | 8,603 |  |  | $ | 968 |
Commercial Real Estate: |  |  |  |  |  |  |  |  |
Owner Occupied |  |  | 2,959 |  |  |  | — |  |  |  | — |
Non-Owner Occupied |  |  | 8,234 |  |  |  | — |  |  |  | 550 |
Residential Real Estate |  |  | 1,515 |  |  |  | — |  |  |  | — |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |
Farm Real Estate |  |  | — |  |  |  | — |  |  |  | — |
Lease Financing Receivables |  |  | — |  |  |  | — |  |  |  | — |
Consumer and Other |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 12,708 |  |  | $ | 8,603 |  |  | $ | 1,518 |
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 |
Collateral-dependent loans consist primarily of Residential Real Estate, Commercial Real Estate and Commercial & Agricultural loans. Individually evaluated loans are collateral-dependent 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. When a loan is deemed collateral-dependent, the level of credit loss is measured by the difference between amortized cost of the loan and the fair value of collateral adjusted for estimated cost to sell. In the case of Commercial & 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 Held For Sale 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 Sheets. As of March 31, 2025 and December 31, 2024, the Company had initiated formal foreclosure procedures on $869 a nd $669, 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 adjusted as a provision for credit loss expense recognized within 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 March 31, 2025 and March 31, 2024:
|  | Three Months Ended |
|  | March 31, |
|  | 2025 |  | 2024 |
Beginning of Period |  | $ | 3,380 |  |  | 3,901 |
Provision for (recovery of) |  |  | 319 |  |  | (50 | )
End of Period |  | $ | 3,699 |  | $ | 3,851 |

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