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Loans and Allowance for Credit Losses on Loans HFI (Tables)

12 Months Ended

Dec. 31, 2024

Schedule of Loans Outstanding by Class of Financing Receivable

Loans outstanding as of December 31, 2024 and 2023, by class of financing receivable are as follows:



	December 31,
	2024		2023
Commercial and industrial	$	1,691,213	$	1,720,733
Construction	1,087,732		1,397,313
Residential real estate:
1-to-4 family mortgage	1,616,754		1,568,552
Residential line of credit	602,475		530,912
Multi-family mortgage	653,769		603,804
Commercial real estate:
Owner-occupied	1,357,568		1,232,071
Non-owner occupied	2,099,129		1,943,525
Consumer and other	493,744		411,873
Gross loans	9,602,384		9,408,783
Less: Allowance for credit losses on loans HFI	(151,942)		(150,326)
Net loans	$	9,450,442	$	9,258,457

Schedule of Credit Quality of Loan Portfolio by Year of Origination

The following tables present the credit quality of the Company's commercial type loan portfolio as of December 31, 2024 and 2023 and the gross charge-offs for the years ended December 31, 2024 and 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.





As of and for the year ended December 31, 2024	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and industrial
Pass	$	194,185	$	182,677	$	130,148	$	56,460	$	29,735	$	104,236	$	909,398	$	1,606,839
Special Mention	2,684		2,425		7,609		277		285		2,015		24,345		39,640
Classified	—		175		19,125		4,424		1,659		6,201		13,150		44,734

Total	196,869		185,277		156,882		61,161		31,679		112,452		946,893		1,691,213

Current-period gross charge-offs	—		116		950		506		1,234		7		8,267		11,080
Construction
Pass	190,058		116,122		349,716		99,225		27,616		54,099		199,596		1,036,432
Special Mention	156		87		15,432		389		10		576		—		16,650
Classified	—		—		7,314		290		8,335		—		18,711		34,650

Total	190,214		116,209		372,462		99,904		35,961		54,675		218,307		1,087,732

Current-period gross charge-offs	—		—		122		—		—		—		—		122
Residential real estate:

Multi-family mortgage
Pass	40,076		3,800		232,415		223,076		51,948		69,652		21,883		642,850
Special Mention	—		—		—		—		—		—		—		—
Classified	—		—		—		9,919		—		1,000		—		10,919

Total	40,076		3,800		232,415		232,995		51,948		70,652		21,883		653,769


Current-period gross charge-offs	—		—		—		—		—		—		—		—
Commercial real estate:
Owner occupied
Pass	185,416		103,060		247,049		215,798		102,580		396,288		84,226		1,334,417
Special Mention	—		—		1,370		2,582		—		6,133		—		10,085
Classified	—		—		6,324		235		61		5,371		1,075		13,066

Total	185,416		103,060		254,743		218,615		102,641		407,792		85,301		1,357,568

Current-period gross charge-offs	—		—		—		—		—		—		—		—
Non-owner occupied
Pass	198,591		36,027		526,417		445,598		111,943		689,158		58,255		2,065,989
Special Mention	—		4,836		—		1,527		—		19,311		—		25,674
Classified	—		—		—		136		—		7,330		—		7,466

Total	198,591		40,863		526,417		447,261		111,943		715,799		58,255		2,099,129




Current-period gross charge-offs	—		—		—		—		—		—		—		—
Total commercial loan types
Pass	808,326		441,686		1,485,745		1,040,157		323,822		1,313,433		1,273,358		6,686,527
Special Mention	2,840		7,348		24,411		4,775		295		28,035		24,345		92,049
Classified	—		175		32,763		15,004		10,055		19,902		32,936		110,835

Total	$	811,166	$	449,209	$	1,542,919	$	1,059,936	$	334,172	$	1,361,370	$	1,330,639	$	6,889,411
Current-period gross charge-offs	$	—	$	116	$	1,072	$	506	$	1,234	$	7	$	8,267	$	11,202





As of and for the year ended December 31, 2023	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and industrial
Pass	$	225,734	$	255,921	$	151,492	$	39,897	$	70,302	$	73,415	$	839,918	$	1,656,679
Special Mention	—		17,947		3,083		—		151		108		7,549		28,838
Classified	457		4,253		3,075		3,027		254		6,129		18,021		35,216

Total	226,191		278,121		157,650		42,924		70,707		79,652		865,488		1,720,733
Current-period gross charge-offs	14		7		201		22		—		87		131		462

Construction
Pass	179,929		677,387		148,312		46,697		39,140		49,954		208,491		1,349,910
Special Mention	1		4,659		2,943		1,202		—		690		12,000		21,495
Classified	—		2,349		1,484		6,620		—		—		15,455		25,908

Total	179,930		684,395		152,739		54,519		39,140		50,644		235,946		1,397,313
Current-period gross charge-offs	—		—		—		—		—		—		—		—

Residential real estate:

Multi-family mortgage
Pass	29,982		151,495		223,889		92,745		29,933		43,479		31,209		602,732
Special Mention	—		—		—		—		—		—		—		—
Classified	—		—		—		—		—		1,072		—		1,072

Total	29,982		151,495		223,889		92,745		29,933		44,551		31,209		603,804
Current-period gross charge-offs	—		—		—		—		—		—		—		—


Commercial real estate:
Owner occupied
Pass	118,030		261,196		231,241		115,397		151,146		281,253		53,970		1,212,233
Special Mention	—		1,297		1,827		—		154		2,617		—		5,895
Classified	—		6,305		16		—		760		5,789		1,073		13,943

Total	118,030		268,798		233,084		115,397		152,060		289,659		55,043		1,232,071
Current-period gross charge-offs	—		—		144		—		—		—		—		144

Non-owner occupied
Pass	47,026		474,560		478,878		117,429		178,448		580,168		43,577		1,920,086
Special Mention	—		—		3,975		—		—		10,435		—		14,410
Classified	—		—		1,001		—		381		7,647		—		9,029

Total	47,026		474,560		483,854		117,429		178,829		598,250		43,577		1,943,525
Current-period gross charge-offs	—		—		—		—		—		—		—		—

Total commercial loan types
Pass	600,701		1,820,559		1,233,812		412,165		468,969		1,028,269		1,177,165		6,741,640
Special Mention	1		23,903		11,828		1,202		305		13,850		19,549		70,638
Classified	457		12,907		5,576		9,647		1,395		20,637		34,549		85,168
Total	$	601,159	$	1,857,369	$	1,251,216	$	423,014	$	470,669	$	1,062,756	$	1,231,263	$	6,897,446
Current-period gross charge-offs	14		7		345		22		—		87		131		606

The following tables present the credit quality by classification (performing or nonperforming) of the Company’s consumer type loan portfolio as of December 31, 2024 and 2023 and the gross charge-offs for the years ended December 31, 2024 and 2023 by year of origination. Revolving loans are presented separately. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal constitutes a current period origination.





As of and for the year ended December 31, 2024	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total





Residential real estate:
1-to-4 family mortgage
Performing	$	223,520	$	165,395	$	443,372	$	360,188	$	129,674	$	266,661	$	—	$	1,588,810
Nonperforming	27		941		7,254		6,357		4,192		9,173		—		27,944
Total	223,547		166,336		450,626		366,545		133,866		275,834		—		1,616,754
Current-period gross charge-offs	10		54		150		130		67		28		—		439
Residential line of credit
Performing	—		—		—		—		—		—		600,581		600,581
Nonperforming	—		—		—		—		—		—		1,894		1,894
Total	—		—		—		—		—		—		602,475		602,475
Current-period gross charge-offs	—		—		—		—		—		—		73		73
Consumer and other
Performing	139,684		93,817		76,286		35,507		29,387		102,233		652		477,566
Nonperforming	1,300		1,749		1,686		3,139		2,548		5,755		1		16,178
Total	140,984		95,566		77,972		38,646		31,935		107,988		653		493,744
Current-period gross charge-offs	1,593		511		302		278		69		298		—		3,051
Total consumer type loans
Performing	363,204		259,212		519,658		395,695		159,061		368,894		601,233		2,666,957
Nonperforming	1,327		2,690		8,940		9,496		6,740		14,928		1,895		46,016
Total	$	364,531	$	261,902	$	528,598	$	405,191	$	165,801	$	383,822	$	603,128	$	2,712,973
Current-period gross charge-offs	$	1,603	$	565	$	452	$	408	$	136	$	326	$	73	$	3,563





As of and for the year ended December 31, 2023	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Total





Residential real estate:
1-to-4 family mortgage
Performing	$	198,537	$	500,628	$	399,338	$	145,484	$	81,905	$	226,587	$	—	$	1,552,479
Nonperforming	76		2,565		4,026		3,846		690		4,870		—		16,073
Total	198,613		503,193		403,364		149,330		82,595		231,457		—		1,568,552
Prior-period gross charge-offs	—		18		—		4		—		24		—		46
Residential line of credit
Performing	—		—		—		—		—		—		528,439		528,439
Nonperforming	—		—		—		—		—		—		2,473		2,473
Total	—		—		—		—		—		—		530,912		530,912
Prior-period gross charge-offs	—		—		—		—		—		—		—		—
Consumer and other
Performing	104,399		91,557		45,187		34,928		24,040		93,833		6,890		400,834
Nonperforming	528		1,025		2,562		1,819		1,264		3,841		—		11,039
Total	104,927		92,582		47,749		36,747		25,304		97,674		6,890		411,873
Prior-period gross charge-offs	1,463		564		139		201		110		372		2		2,851
Total consumer type loans
Performing	302,936		592,185		444,525		180,412		105,945		320,420		535,329		2,481,752
Nonperforming	604		3,590		6,588		5,665		1,954		8,711		2,473		29,585
Total	$	303,540	$	595,775	$	451,113	$	186,077	$	107,899	$	329,131	$	537,802	$	2,511,337
Prior-period gross charge-offs	1,463		582		139		205		110		396		2		2,897

Schedule of Analysis of Aging by Class of Financing Receivable

The following tables represent an analysis of the aging by class of financing receivable as of December 31, 2024 and 2023:


December 31, 2024	30-89 days past due and accruing interest		90 days or more and accruing interest		Nonaccrual loans		Loans current on payments and accruing interest		Total
Commercial and industrial	$	1,204	$	730	$	9,661	$	1,679,618	$	1,691,213
Construction	3,288		538		10,915		1,072,991		1,087,732
Residential real estate:
1-to-4 family mortgage	24,376		15,319		12,625		1,564,434		1,616,754
Residential line of credit	2,302		357		1,537		598,279		602,475
Multi-family mortgage	979		—		21		652,769		653,769
Commercial real estate:
Owner occupied	1,996		94		9,551		1,345,927		1,357,568
Non-owner occupied	—		3,512		2,667		2,092,950		2,099,129
Consumer and other	13,710		3,797		12,381		463,856		493,744
Total	$	47,855	$	24,347	$	59,358	$	9,470,824	$	9,602,384


December 31, 2023	30-89 days past due and accruing interest		90 days or more and accruing interest		Nonaccrual loans		Loans current on payments and accruing interest		Total
Commercial and industrial	$	732	$	—	$	21,730	$	1,698,271	$	1,720,733
Construction	6,579		165		2,872		1,387,697		1,397,313
Residential real estate:
1-to-4 family mortgage	21,768		9,355		6,718		1,530,711		1,568,552
Residential line of credit	2,464		1,337		1,136		525,975		530,912
Multi-family mortgage	—		—		32		603,772		603,804
Commercial real estate:
Owner occupied	480		—		3,188		1,228,403		1,232,071
Non-owner occupied	4,059		—		3,351		1,936,115		1,943,525
Consumer and other	10,961		1,836		9,203		389,873		411,873
Total	$	47,043	$	12,693	$	48,230	$	9,300,817	$	9,408,783

Schedule of Amortized Cost, Related Allowance and Interest Income of Non-accrual Loans

The following tables provide the amortized cost basis of loans on non-accrual status, as well as any related allowance as of December 31, 2024 and 2023 by class of financing receivable.



December 31, 2024	Nonaccrual with no related allowance		Nonaccrual with related allowance		Related allowance		Year to date Interest Income
Commercial and industrial	$	5,294	$	4,367	$	2,177	$	641
Construction	1,653		9,262		1,383		456
Residential real estate:
1-to-4 family mortgage	1,562		11,063		211		57
Residential line of credit	148		1,389		26		69
Multi-family mortgage	—		21		1		1
Commercial real estate:
Owner occupied	6,415		3,136		137		144
Non-owner occupied	2,224		443		6		91
Consumer and other	—		12,381		646		—
Total	$	17,296	$	42,062	$	4,587	$	1,459


December 31, 2023	Nonaccrual with no related allowance		Nonaccrual with related allowance		Related allowance		Year to date Interest Income

Commercial and industrial	$	3,678	$	18,052	$	5,011	$	2,451
Construction	2,267		605		59		335
Residential real estate:
1-to-4 family mortgage	1,444		5,274		103		410
Residential line of credit	685		451		8		141
Multi-family mortgage	—		32		1		3
Commercial real estate:
Owner occupied	2,920		268		15		514
Non-owner occupied	3,316		35		1		1,221
Consumer and other	—		9,203		498		1,053
Total	$	14,310	$	33,920	$	5,696	$	6,128

Schedule of Financial Effect of TDRs

The following table presents the amortized cost of FDM loans as of December 31, 2024 by class of financing receivable and type of concession granted that were modified during the year ended December 31, 2024.


Year Ended December 31, 2024	Term extension		Payment deferral and term extension		Interest rate reduction and term extension		Payment deferral, interest rate reduction, and term extension		Total		% of total class of financing receivables
Commercial and industrial	$	—	$	5,052	$	—	$	—	$	5,052	0.3	%
Construction	—		—		—		2,008		2,008		0.2	%
Residential real estate:
1-to-4 family mortgage	—		3,780		—		—		3,780		0.2	%
Residential line of credit	28		—		—		—		28		—	%




Consumer and other	36		—		97		—		133		—	%
Total	$	64	$	8,832	$	97	$	2,008	$	11,001	0.1	%

The following table describes the financial effect of the modifications made to borrowers experiencing financial difficultly:


Year Ended December 31, 2024	Weighted average term extension (in months)	Weighted average payment deferral (in months)	Weighted average interest rate reduction
Commercial and industrial	12	12	—
Construction	360	5	0.10%
Residential real estate:
1-to-4 family mortgage	147	4	—
Residential line of credit	120	—	—




Consumer and other	25	—	1.49%

Schedule of Financing Receivable, Modified, Past Due

The table below depicts the performance of loans HFI as of December 31, 2024 made to borrowers experiencing financial difficulty that were modified in the prior twelve months.


December 31, 2024	30-89 days past due and accruing interest		90 days or more and accruing interest		Nonaccrual loans(1)		Loans current on payments and accruing interest		Total
Commercial and industrial	$	—	$	—	$	5,052	$	—	$	5,052
Construction	—		—		2,008		—		2,008
Residential real estate:
1-to-4 family mortgage	—		316		—		3,464		3,780
Residential line of credit	—		—		—		28		28




Consumer and other	14		16		—		103		133
Total	$	14	$	332	$	7,060	$	3,595	$	11,001

(1) Loans were on non-accrual when modified and subsequently classified as FDM.

Schedule of Individually Assessed Allowance for Credit Losses for Collateral Dependent Loans

For collateral-dependent loans, or those loans for which repayment is expected to be provided substantially through the operation or sale of collateral, where the borrower is also experiencing financial difficulty, the following tables present the loans by class of financing receivable.


	December 31, 2024
	Type of Collateral
	Real Estate		Farmland		Business Assets		Total
Commercial and industrial	$	—	$	—	$	8,492	$	8,492
Construction	22,047		1,653		—		23,700
Residential real estate:
1-to-4 family mortgage	1,843		—		—		1,843
Residential line of credit	148		—		—		148
Multi-family mortgage	9,919		—		—		9,919
Commercial real estate:
Owner occupied	—		6,415		—		6,415
Non-owner occupied	6,886		—		—		6,886

Total	$	40,843	$	8,068	$	8,492	$	57,403


	December 31, 2023
	Type of Collateral
	Real Estate		Farmland		Business Assets		Total
Commercial and industrial	$	—	$	363	$	20,599	$	20,962
Construction	8,224		—		—		8,224
Residential real estate:
1-to-4 family mortgage	5,317		—		—		5,317
Residential line of credit	1,245		—		—		1,245

Commercial real estate:
Owner occupied	1,975		1,160		—		3,135
Non-owner occupied	3,316		—		—		3,316
Consumer and other	112		—		—		112
Total	$	20,189	$	1,523	$	20,599	$	42,311

Schedule of Changes in Allowance for Credit Losses on Loans HFI by Class of Financing Receivable

The following tables provide the changes in the allowance for credit losses on loans HFI by class of financing receivable for the years ended December 31, 2024, 2023, and 2022:


	Commercial and industrial		Construction		1-to-4 family residential mortgage		Residential line of credit		Multi-family residential mortgage		Commercial real estate owner occupied		Commercial real estate non-owner occupied		Consumer and other		Total







Year Ended December 31, 2024
Beginning balance - December 31, 2023	$	19,599	$	35,372	$	26,505	$	9,468	$	8,842	$	10,653	$	22,965	$	16,922	$	150,326


Provision for (reversal of) credit losses on loans HFI	7,720		(3,552)		(810)		1,539		1,670		1,095		2,566		4,439		14,667
Recoveries of loans previously charged-off	428		—		84		18		—		245		—		939		1,714
Loans charged off	(11,080)		(122)		(439)		(73)		—		—		—		(3,051)		(14,765)


Ending balance - December 31, 2024	$	16,667	$	31,698	$	25,340	$	10,952	$	10,512	$	11,993	$	25,531	$	19,249	$	151,942


	Commercial and industrial		Construction		1-to-4 family residential mortgage		Residential line of credit		Multi-family residential mortgage		Commercial real estate owner occupied		Commercial real estate non-owner occupied		Consumer and other		Total






Year Ended December 31, 2023
Beginning balance - December 31, 2022	$	11,106	$	39,808	$	26,141	$	7,494	$	6,490	$	7,783	$	21,916	$	13,454	$	134,192


Provision for (reversal of) credit losses on loans HFI	8,682		(4,446)		310		1,973		2,352		2,905		(784)		5,746		16,738
Recoveries of loans previously charged-off	273		10		100		1		—		109		1,833		573		2,899
Loans charged off	(462)		—		(46)		—		—		(144)		—		(2,851)		(3,503)


Ending balance - December 31, 2023	$	19,599	$	35,372	$	26,505	$	9,468	$	8,842	$	10,653	$	22,965	$	16,922	$	150,326


	Commercial and industrial		Construction		1-to-4 family residential mortgage		Residential line of credit		Multi-family residential mortgage		Commercial real estate owner occupied		Commercial real estate non-owner occupied		Consumer and other		Total
Year Ended December 31, 2022
Beginning balance - December 31, 2021	$	15,751	$	28,576	$	19,104	$	5,903	$	6,976	$	12,593	$	25,768	$	10,888	$	125,559
(Reversal of) provision for credit losses on loans HFI	(4,563)		11,221		7,060		1,574		(486)		(4,883)		(3,584)		4,054		10,393
Recoveries of loans previously charged-off	2,005		11		54		17		—		88		—		766		2,941
Loans charged off	(2,087)		—		(77)		—		—		(15)		(268)		(2,254)		(4,701)
Ending balance - December 31, 2022	$	11,106	$	39,808	$	26,141	$	7,494	$	6,490	$	7,783	$	21,916	$	13,454	$	134,192