LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2025

Receivables [Abstract]

Summary of Loan Portfolio by Type of Loan

The following table summarizes the Company’s loan portfolio by type of loan as of:

	March 31, 2025			December 31, 2024
Commercial and industrial	$	226,819		$	254,702
Real estate:
Construction and development		225,051			218,617
Commercial real estate		866,891			866,684
Farmland		139,455			147,191
1-4 family residential		534,991			529,006
Multi-family residential		51,249			51,538
Consumer		50,434			51,394
Agricultural		12,634			11,726
Overdrafts		637			279
Total loans		2,108,161			2,131,137
Net of:
Deferred loan fees, net		(432	)		(282	)
Allowance for credit losses		(27,865	)		(28,290	)
Total net loans(1)	$	2,079,864		$	2,102,565
(1) Excludes accrued interest receivable on loans of $8,019 and $8,399 as of March 31, 2025 and December 31, 2024, respectively, which is presented separately on the consolidated balance sheets.

Schedule of Allowance for Credit Losses Activity

The following tables present the activity in the ACL by class of loans for the three months ended March 31, 2025, for the year ended December 31, 2024 and for the three months ended March 31, 2024:

For the Three Months Ended March 31, 2025	Commercial and industrial			Construction and development		Commercial real estate			Farmland			1-4 family residential		Multi-family residential			Consumer			Agricultural		Overdrafts			Total
Allowance for credit losses:
Beginning balance	$	2,973		$	2,738	$	11,718		$	1,830		$	7,656	$	528		$	844		$	—	$	3		$	28,290
(Reversal of) provision for credit losses		(271	)		27		(109	)		(82	)		7		(12	)		(37	)		136		41			(300	)
Loans charged-off		(93	)		—		—			—			—		—			(3	)		—		(49	)		(145	)
Recoveries		1			—		—			—			—		—			7			—		12			20
Ending balance	$	2,610		$	2,765	$	11,609		$	1,748		$	7,663	$	516		$	811		$	136	$	7		$	27,865

For the Year Ended December 31, 2024	Commercial and industrial			Construction and development			Commercial real estate			Farmland			1-4 family residential		Multi-family residential		Consumer			Agricultural			Overdrafts			Total
Allowance for credit losses:
Beginning balance	$	3,719		$	3,623		$	12,257		$	2,231		$	7,470	$	521	$	945		$	152		$	2		$	30,920
(Reversal of) provision for credit losses		(524	)		(885	)		(539	)		(401	)		186		7		(80	)		(155	)		191			(2,200	)
Loans charged-off		(630	)		—			—			—			—		—		(106	)		—			(242	)		(978	)
Recoveries		408			—			—			—			—		—		85			3			52			548
Ending balance	$	2,973		$	2,738		$	11,718		$	1,830		$	7,656	$	528	$	844		$	—		$	3		$	28,290

For the Three Months Ended March 31, 2024	Commercial and industrial			Construction and development			Commercial real estate		Farmland			1-4 family residential		Multi-family residential			Consumer			Agricultural			Overdrafts			Total
Allowance for credit losses:
Beginning balance	$	3,719		$	3,623		$	12,257	$	2,231		$	7,470	$	521		$	945		$	152		$	2			30,920
Provision for (reversal of) credit losses		67			(363	)		19		(27	)		215		(4	)		(194	)		(6	)		43			(250	)
Loans charged-off		(216	)		—			—		—			—		—			(35	)		—			(59	)		(310	)
Recoveries		174			—			—		—			—		—			7			2			17			200
Ending balance	$	3,744		$	3,260		$	12,276	$	2,204		$	7,685	$	517		$	723		$	148		$	3		$	30,560

Summary of Credit Exposure

The following table summarizes the credit exposure in the Company’s loan portfolio, by year of origination, as of March 31, 2025:

March 31, 2025	2025		2024		2023		2022			2021		Prior		Revolving Loans Amortized Cost			Total
Commercial and industrial:
Pass	$	5,454	$	33,193	$	24,750	$	46,832		$	25,734	$	24,955	$	64,154		$	225,072
Special mention		—		25		—		—			48		374		35			482
Substandard		—		34		90		638			—		209		10			981
Nonaccrual		—		16		48		174			27		19		—			284
Total commercial and industrial loans	$	5,454	$	33,268	$	24,888	$	47,644		$	25,809	$	25,557	$	64,199		$	226,819
Charge-offs	$	—	$	—	$	—	$	(74	)	$	—	$	—	$	(19	)	$	(93	)
Recoveries		—		—		—		—			—		1		—			1
Current period net	$	—	$	—	$	—	$	(74	)	$	—	$	1	$	(19	)	$	(92	)
Construction and development:
Pass	$	5,281	$	86,452	$	24,368	$	39,633		$	34,459	$	30,055	$	1,113		$	221,361
Special mention		—		—		—		3,690			—		—		—			3,690
Substandard		—		—		—		—			—		—		—			—
Nonaccrual		—		—		—		—			—		—		—			—
Total construction and development loans	$	5,281	$	86,452	$	24,368	$	43,323		$	34,459	$	30,055	$	1,113		$	225,051
Charge-offs	$	—	$	—	$	—	$	—		$	—	$	—	$	—		$	—
Recoveries		—		—		—		—			—		—		—			—
Current period net	$	—	$	—	$	—	$	—		$	—	$	—	$	—		$	—
Commercial real estate:
Pass	$	32,619	$	59,717	$	46,881	$	320,063		$	116,591	$	255,969	$	15,296		$	847,136
Special mention		—		—		—		8,125			9,314		561		—			18,000
Substandard		—		—		—		—			—		1,536		—			1,536
Nonaccrual		—		—		—		—			—		219		—			219
Total commercial real estate loans	$	32,619	$	59,717	$	46,881	$	328,188		$	125,905	$	258,285	$	15,296		$	866,891
Charge-offs	$	—	$	—	$	—	$	—		$	—	$	—	$	—		$	—
Recoveries		—		—		—		—			—		—		—			—
Current period net	$	—	$	—	$	—	$	—		$	—	$	—	$	—		$	—

March 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost		Total
Farmland:
Pass	$	3,996	$	11,108	$	14,573	$	38,800	$	39,727	$	21,030	$	6,334	$	135,568
Special mention		—		—		1,687		—		—		1,617		—		3,304
Substandard		—		—		—		—		45		119		—		164
Nonaccrual		—		—		—		—		—		419		—		419
Total farmland loans	$	3,996	$	11,108	$	16,260	$	38,800	$	39,772	$	23,185	$	6,334	$	139,455
Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Recoveries		—		—		—		—		—		—		—		—
Current period net	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
1-4 family residential:
Pass	$	20,892	$	66,807	$	60,296	$	125,320	$	103,758	$	133,405	$	20,761	$	531,239
Special mention		—		—		—		201		24		18		—		243
Substandard		—		—		—		—		—		—		—		—
Nonaccrual		—		27		341		324		—		2,667		150		3,509
Total 1-4 family residential loans	$	20,892	$	66,834	$	60,637	$	125,845	$	103,782	$	136,090	$	20,911	$	534,991
Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Recoveries		—		—		—		—		—		—		—		—
Current period net	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Multi-family residential:
Pass	$	—	$	1,004	$	1,749	$	30,255	$	14,226	$	3,948	$	67	$	51,249
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		—		—		—
Total multi-family residential loans	$	—	$	1,004	$	1,749	$	30,255	$	14,226	$	3,948	$	67	$	51,249
Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Recoveries		—		—		—		—		—		—		—		—
Current period net	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

March 31, 2025	2025			2024			2023		2022			2021		Prior			Revolving Loans Amortized Cost			Total
Consumer and overdrafts:
Pass	$	8,340		$	17,211		$	10,339	$	5,515		$	2,491	$	2,819		$	3,968		$	50,683
Special mention		—			23			66		—			4		8			—			101
Substandard		—			—			—		—			—		—			—			—
Nonaccrual		—			13			147		96			—		31			—			287
Total consumer loans and overdrafts	$	8,340		$	17,247		$	10,552	$	5,611		$	2,495	$	2,858		$	3,968		$	51,071
Charge-offs	$	(49	)	$	(2	)	$	—	$	—		$	—	$	(1	)	$	—		$	(52	)
Recoveries		11			—			1		4			—		3			—			19
Current period net	$	(38	)	$	(2	)	$	1	$	4		$	—	$	2		$	—		$	(33	)
Agricultural:
Pass	$	1,300		$	2,336		$	901	$	1,081		$	635	$	864		$	5,468		$	12,585
Special mention		—			—			—		—			—		—			—			—
Substandard		—			—			—		—			—		11			—			11
Nonaccrual		—			—			—		21			—		17			—			38
Total agricultural loans	$	1,300		$	2,336		$	901	$	1,102		$	635	$	892		$	5,468		$	12,634
Charge-offs	$	—		$	—		$	—	$	—		$	—	$	—		$	—		$	—
Recoveries		—			—			—		—			—		—			—			—
Current period net	$	—		$	—		$	—	$	—		$	—	$	—		$	—		$	—
Total loans:
Pass	$	77,882		$	277,828		$	183,857	$	607,499		$	337,621	$	473,045		$	117,161		$	2,074,893
Special mention		—			48			1,753		12,016			9,390		2,578			35			25,820
Substandard		—			34			90		638			45		1,875			10			2,692
Nonaccrual		—			56			536		615			27		3,372			150			4,756
Total loans	$	77,882		$	277,966		$	186,236	$	620,768		$	347,083	$	480,870		$	117,356		$	2,108,161
Charge-offs	$	(49	)	$	(2	)	$	—	$	(74	)	$	—	$	(1	)	$	(19	)	$	(145	)
Recoveries		11			—			1		4			—		4			—			20
Total current period net (charge-offs) recoveries	$	(38	)	$	(2	)	$	1	$	(70	)	$	—	$	3		$	(19	)	$	(125	)

The following table summarizes the credit exposure in the Company’s loan portfolio, by year of origination, as of December 31, 2024:

December 31, 2024	2024		2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost			Total
Commercial and industrial:
Pass	$	40,229	$	28,317		$	50,065		$	28,856		$	9,837		$	15,639		$	80,106		$	253,049
Special mention		26		—			—			57			—			453			36			572
Substandard		36		137			167			—			136			59			10			545
Nonaccrual		17		42			410			27			—			40			—			536
Total commercial and industrial loans	$	40,308	$	28,496		$	50,642		$	28,940		$	9,973		$	16,191		$	80,152		$	254,702
Charge-offs	$	—	$	(7	)	$	(96	)	$	(38	)	$	(249	)	$	(6	)	$	(234	)	$	(630	)
Recoveries		—		15			—			—			217			176			—			408
Current period net	$	—	$	8		$	(96	)	$	(38	)	$	(32	)	$	170		$	(234	)	$	(222	)
Construction and development:
Pass	$	80,512	$	34,301		$	40,399		$	35,409		$	6,222		$	16,857		$	1,208		$	214,908
Special mention		—		—			3,709			—			—			—			—			3,709
Substandard		—		—			—			—			—			—			—			—
Nonaccrual		—		—			—			—			—			—			—			—
Total construction and development loans	$	80,512	$	34,301		$	44,108		$	35,409		$	6,222		$	16,857		$	1,208		$	218,617
Charge-offs	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Recoveries		—		—			—			—			—			—			—			—
Current period net	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Commercial real estate:
Pass	$	58,453	$	48,300		$	328,088		$	120,214		$	76,684		$	198,433		$	11,921		$	842,093
Special mention		—		—			13,429			9,377			—			—			—			22,806
Substandard		—		—			—			—			—			1,558			—			1,558
Nonaccrual		—		—			—			—			209			18			—			227
Total commercial real estate loans	$	58,453	$	48,300		$	341,517		$	129,591		$	76,893		$	200,009		$	11,921		$	866,684
Charge-offs	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	—
Recoveries		—		—			—			—			—			—			—			—
Current period net	$	—	$	—		$	—		$	—		$	—		$	—		$	—		$	—

December 31, 2024	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost		Total
Farmland:
Pass	$	12,779	$	21,451	$	39,694	$	42,108	$	7,357	$	16,747	$	4,740	$	144,876
Special mention		—		1,687		—		—		—		—		—		1,687
Substandard		—		—		—		86		99		22		—		207
Nonaccrual		—		—		—		—		—		421		—		421
Total farmland loans	$	12,779	$	23,138	$	39,694	$	42,194	$	7,456	$	17,190	$	4,740	$	147,191
Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Recoveries		—		—		—		—		—		—		—		—
Current period net	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
1-4 family residential:
Pass	$	66,808	$	61,249	$	133,197	$	106,297	$	35,825	$	101,662	$	20,557	$	525,595
Special mention		29		—		—		—		—		1,094		—		1,123
Substandard		—		—		—		—		—		—		—		—
Nonaccrual		—		338		—		—		228		1,567		155		2,288
Total 1-4 family residential loans	$	66,837	$	61,587	$	133,197	$	106,297	$	36,053	$	104,323	$	20,712	$	529,006
Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Recoveries		—		—		—		—		—		—		—		—
Current period net	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Multi-family residential:
Pass	$	1,010	$	1,759	$	30,389	$	14,340	$	1,324	$	2,665	$	51	$	51,538
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		—		—		—
Total multi-family residential loans	$	1,010	$	1,759	$	30,389	$	14,340	$	1,324	$	2,665	$	51	$	51,538
Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Recoveries		—		—		—		—		—		—		—		—
Current period net	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

December 31, 2024	2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost			Total
Consumer and overdrafts:
Pass	$	21,519		$	12,431		$	6,955		$	3,009		$	1,192		$	2,120		$	4,210		$	51,436
Special mention		14			4			—			—			—			—			—			18
Substandard		—			—			—			—			—			—			—			—
Nonaccrual		12			80			86			7			18			16			—			219
Total consumer loans and overdrafts	$	21,545		$	12,515		$	7,041		$	3,016		$	1,210		$	2,136		$	4,210		$	51,673
Charge-offs	$	(252	)	$	(44	)	$	(43	)	$	—		$	—		$	(9	)	$	—		$	(348	)
Recoveries		52			—			—			14			3			17			51			137
Current period net	$	(200	)	$	(44	)	$	(43	)	$	14		$	3		$	8		$	51		$	(211	)
Agricultural:
Pass	$	2,644		$	993		$	1,225		$	673		$	367		$	597		$	5,104		$	11,603
Special mention		—			—			—			—			—			—			—			—
Substandard		—			—			—			—			—			85			—			85
Nonaccrual		—			—			21			—			—			17			—			38
Total agricultural loans	$	2,644		$	993		$	1,246		$	673		$	367		$	699		$	5,104		$	11,726
Charge-offs	$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—
Recoveries		—			—			—			—			—			3			—			3
Current period net	$	—		$	—		$	—		$	—		$	—		$	3		$	—		$	3
Total loans:
Pass	$	283,954		$	208,801		$	630,012		$	350,906		$	138,808		$	354,720		$	127,897		$	2,095,098
Special mention		69			1,691			17,138			9,434			—			1,547			36			29,915
Substandard		36			137			167			86			235			1,724			10			2,395
Nonaccrual		29			460			517			34			455			2,079			155			3,729
Total loans	$	284,088		$	211,089		$	647,834		$	360,460		$	139,498		$	360,070		$	128,098		$	2,131,137
Charge-offs	$	(252	)	$	(51	)	$	(139	)	$	(38	)	$	(249	)	$	(15	)	$	(234	)	$	(978	)
Recoveries		52			15			—			14			220			196			51			548
Total current period net (charge-offs) recoveries	$	(200	)	$	(36	)	$	(139	)	$	(24	)	$	(29	)	$	181		$	(183	)	$	(430	)

Summary of Amortized Cost Basis of Collateral-dependent Loans

The following table presents the amortized cost basis of individually evaluated collateral-dependent loans within the ACL model as of March 31, 2025.

March 31, 2025	Real Estate		Non-RE		Total		Allowance for Credit Losses Allocation
Commercial real estate		1,509		—		1,509		250
Total	$	1,509	$	—	$	1,509	$	250

The following table presents the amortized cost basis of individually evaluated collateral-dependent loans within the ACL model as of December 31, 2024.

December 31, 2024	Real Estate		Non-RE		Total		Allowance for Credit Losses Allocation
Commercial real estate	$	1,530	$	—	$	1,530	$	250
Total	$	1,530	$	—	$	1,530	$	250

Summary of Payment Status of Loans

The following tables summarize the payment status of loans in the Company’s total loan portfolio, including an aging of delinquent loans and loans 90 days or more past due continuing to accrue interest as of:

March 31, 2025	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Loans		Recorded Investment > 90 Days and Accruing
Commercial and industrial	$	865	$	36	$	95	$	996	$	225,823	$	226,819	$	—
Real estate:
Construction and development		—		—		—		—		225,051		225,051		—
Commercial real estate		338		—		203		541		866,350		866,891		—
Farmland		2,053		156		140		2,349		137,106		139,455		—
1-4 family residential		2,288		304		2,109		4,701		530,290		534,991		—
Multi-family residential		—		—		—		—		51,249		51,249		—
Consumer		163		107		239		509		49,925		50,434		—
Agricultural		—		40		21		61		12,573		12,634		—
Overdrafts		—		—		—		—		637		637		—
Total	$	5,707	$	643	$	2,807	$	9,157	$	2,099,004	$	2,108,161	$	—

December 31, 2024	30 to 59 Days Past Due		60 to 89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Loans		Recorded Investment > 90 Days and Accruing
Commercial and industrial	$	465	$	231	$	436	$	1,132	$	253,570	$	254,702	$	—
Real estate:
Construction and development		778		—		—		778		217,839		218,617		—
Commercial real estate		659		18		209		886		865,798		866,684		—
Farmland		307		90		140		537		146,654		147,191		—
1-4 family residential		3,587		1,261		1,214		6,062		522,944		529,006		—
Multi-family residential		—		—		—		—		51,538		51,538		—
Consumer		280		61		174		515		50,879		51,394		—
Agricultural		150		—		21		171		11,555		11,726		—
Overdrafts		—		—		—		—		279		279		—
Total	$	6,226	$	1,661	$	2,194	$	10,081	$	2,121,056	$	2,131,137	$	—

Schedule of Nonaccrual Loans

The following table presents information regarding nonaccrual loans as of:

	March 31, 2025		December 31, 2024
Commercial and industrial	$	284	$	536
Real estate:
Commercial real estate		219		227
Farmland		419		421
1-4 family residential		3,509		2,288
Consumer and overdrafts		287		219
Agricultural		38		38
Total	$	4,756	$	3,729

Schedule of Financing Receivable, Amortized Cost Basis of Loans

The following table presents the amortized cost basis of loans made to borrowers experiencing financial difficulty that were modified during the three months ended March 31, 2025. No loan modifications were made during the three months ended March 31, 2024.

For the Three Months Ended March 31, 2025	Term Extension		Interest Rate Reduction		Combination Term Extension and Interest Rate Reduction		Total Class of Financing Receivable
Commercial and industrial	$	58	$	—	$	—		0.03	%
1-4 family residential		—		—		83		0.02	%
Total loans	$	58	$	—	$	83		0.01	%

Schedule of Financing Receivable, Financial Effect of the Loan Modifications

The following tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty during the three months ended March 31, 2025.

For the Three Months Ended March 31, 2025
Term Extension	Financial Effect
Commercial and industrial	Amortization period was extended by a weighted-average period of 2.99 years.
Combo Interest Rate and Term	Financial Effect
1-4 family residential	Reduced weighted-average contractual interest rate from 9.74% to 8.24% and amortization period was extended by a weighted-average period of 1.88 years.

Schedule of Financing Receivable, Age Analysis of Loans

The following table provides an age analysis of loans made to borrowers experiencing financial difficulty that were modified during the last twelve months and continue to experience financial difficulty as of March 31, 2025.

	Current		30 to 89 Days Past Due		90 Days or Greater Past Due		Nonaccrual
Commercial and industrial	$	148	$	16	$	—	$	—
Real estate:
Construction and development		11		—		—		—
1-4 family residential		—		—		—		83
Total loans	$	159	$	16	$	—	$	83