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

3 Months Ended

Mar. 31, 2025

Schedule of Loans Outstanding by Class of Financing Receivable

Loans outstanding as of March 31, 2025 and December 31, 2024, by class of financing receivable are as follows:


	March 31,		December 31,

	2025		2024
Commercial and industrial	$	1,782,981	$	1,691,213
Construction	1,022,299		1,087,732
Residential real estate:
1-to-4 family mortgage	1,632,574		1,616,754
Residential line of credit	613,868		602,475
Multi-family mortgage	648,326		653,769
Commercial real estate:
Owner-occupied	1,356,007		1,357,568
Non-owner occupied	2,153,825		2,099,129
Consumer and other	561,656		493,744
Gross loans	9,771,536		9,602,384
Less: Allowance for credit losses on loans HFI	(150,531)		(151,942)
Net loans	$	9,621,005	$	9,450,442

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 March 31, 2025 and December 31, 2024 and the gross charge-offs for the three months ended March 31, 2025 and the year ended December 31, 2024 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 three months ended March 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Commercial and industrial
Pass	$	104,642	$	194,223	$	172,248	$	113,893	$	49,312	$	125,115	$	947,922	$	1,707,355
Special Mention	—		2,038		2,202		6,297		168		1,284		24,376		36,365
Classified	152		—		104		17,224		2,431		6,517		12,833		39,261

Total	104,794		196,261		174,554		137,414		51,911		132,916		985,131		1,782,981

Current-period gross charge-offs	—		—		54		—		—		2,245		602		2,901
Construction
Pass	44,178		205,719		89,629		279,129		89,330		75,327		187,408		970,720
Special Mention	—		—		383		14,969		389		576		—		16,317
Classified	—		—		—		12,559		281		8,335		14,087		35,262

Total	44,178		205,719		90,012		306,657		90,000		84,238		201,495		1,022,299

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

Multi-family mortgage
Pass	12,865		17,142		3,781		227,362		233,578		120,593		23,128		638,449
Special Mention	—		—		—		—		—		—		—		—
Classified	—		—		—		—		9,856		21		—		9,877

Total	12,865		17,142		3,781		227,362		243,434		120,614		23,128		648,326


Current-period gross charge-offs	—		—		—		—		—		—		—		—
Commercial real estate:
Owner occupied
Pass	35,831		180,824		102,166		250,386		208,625		462,157		93,943		1,333,932
Special Mention	—		—		—		1,162		1,745		6,091		—		8,998
Classified	—		—		—		6,045		972		5,639		421		13,077

Total	35,831		180,824		102,166		257,593		211,342		473,887		94,364		1,356,007

Current-period gross charge-offs	—		—		—		—		—		17		—		17
Non-owner occupied
Pass	60,465		197,654		41,688		515,372		448,797		787,681		78,862		2,130,519
Special Mention	—		—		4,817		—		935		10,233		—		15,985
Classified	—		—		—		—		—		7,321		—		7,321

Total	60,465		197,654		46,505		515,372		449,732		805,235		78,862		2,153,825




Current-period gross charge-offs	—		—		—		—		—		—		—		—
Total commercial loan types
Pass	257,981		795,562		409,512		1,386,142		1,029,642		1,570,873		1,331,263		6,780,975
Special Mention	—		2,038		7,402		22,428		3,237		18,184		24,376		77,665
Classified	152		—		104		35,828		13,540		27,833		27,341		104,798

Total	$	258,133	$	797,600	$	417,018	$	1,444,398	$	1,046,419	$	1,616,890	$	1,382,980	$	6,963,438
Current-period gross charge-offs	$	—	$	—	$	54	$	—	$	—	$	2,262	$	602	$	2,918





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

The following tables present the credit quality by classification (performing or nonperforming) of the Company’s consumer type loan portfolio as of March 31, 2025 and December 31, 2024 and the gross charge-offs for the three months ended March 31, 2025 and the year ended December 31, 2024 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 three months ended March 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total





Residential real estate:
1-to-4 family mortgage
Performing	$	70,029	$	214,285	$	158,079	$	433,883	$	347,820	$	383,899	$	—	$	1,607,995
Nonperforming	—		43		368		7,058		7,373		9,737		—		24,579
Total	70,029		214,328		158,447		440,941		355,193		393,636		—		1,632,574
Current-period gross charge-offs	—		—		3		—		—		—		—		3
Residential line of credit
Performing	—		—		—		—		—		—		611,665		611,665
Nonperforming	—		—		—		—		—		—		2,203		2,203
Total	—		—		—		—		—		—		613,868		613,868
Current-period gross charge-offs	—		—		—		—		—		—		—		—
Consumer and other
Performing	36,971		161,239		94,914		77,682		34,207		139,633		616		545,262
Nonperforming	—		1,898		2,829		1,740		2,581		7,345		1		16,394
Total	36,971		163,137		97,743		79,422		36,788		146,978		617		561,656
Current-period gross charge-offs	385		185		76		103		86		135		2		972
Total consumer type loans
Performing	107,000		375,524		252,993		511,565		382,027		523,532		612,281		2,764,922
Nonperforming	—		1,941		3,197		8,798		9,954		17,082		2,204		43,176
Total	$	107,000	$	377,465	$	256,190	$	520,363	$	391,981	$	540,614	$	614,485	$	2,808,098
Current-period gross charge-offs	$	385	$	185	$	79	$	103	$	86	$	135	$	2	$	975





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
Prior-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
Prior-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
Prior-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
Prior-period gross charge-offs	1,603		565		452		408		136		326		73		3,563

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 March 31, 2025 and December 31, 2024:


March 31, 2025	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	$	2,257	$	4,592	$	4,163	$	1,771,969	$	1,782,981
Construction	1,858		26		10,364		1,010,051		1,022,299
Residential real estate:
1-to-4 family mortgage	20,775		15,372		9,207		1,587,220		1,632,574
Residential line of credit	2,338		658		1,545		609,327		613,868
Multi-family mortgage	—		—		21		648,305		648,326
Commercial real estate:
Owner occupied	230		—		8,643		1,347,134		1,356,007
Non-owner occupied	320		3,512		2,663		2,147,330		2,153,825
Consumer and other	14,096		4,262		12,132		531,166		561,656
Total	$	41,874	$	28,422	$	48,738	$	9,652,502	$	9,771,536


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

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 March 31, 2025 and December 31, 2024 by class of financing receivable.



March 31, 2025	Nonaccrual with no related allowance		Nonaccrual with related allowance		Related allowance
Commercial and industrial	$	2,128	$	2,035	$	138
Construction	1,654		8,710		390
Residential real estate:
1-to-4 family mortgage	—		9,207		183
Residential line of credit	—		1,545		28
Multi-family mortgage	—		21		3
Commercial real estate:
Owner occupied	6,041		2,602		205
Non-owner occupied	2,224		439		91
Consumer and other	—		12,132		634
Total	$	12,047	$	36,691	$	1,672


December 31, 2024	Nonaccrual with no related allowance		Nonaccrual with related allowance		Related allowance

Commercial and industrial	$	5,294	$	4,367	$	2,177
Construction	1,653		9,262		1,383
Residential real estate:
1-to-4 family mortgage	1,562		11,063		211
Residential line of credit	148		1,389		26
Multi-family mortgage	—		21		1
Commercial real estate:
Owner occupied	6,415		3,136		137
Non-owner occupied	2,224		443		6
Consumer and other	—		12,381		646
Total	$	17,296	$	42,062	$	4,587

The following presents interest income recognized on nonaccrual loans for the three months ended March 31, 2025 and 2024:


	Three Months Ended March 31,
	2025		2024
Commercial and industrial	$	3	$	224
Construction	6		61
Residential real estate:
1-to-4 family mortgage	—		—
Residential line of credit	7		16
Multi-family mortgage	—		—
Commercial real estate:
Owner occupied	8		49
Non-owner occupied	—		35
Consumer and other	4		—
Total	$	28	$	385

Schedule of Financial Effect of TDRs

The following tables present the amortized cost of FDM loans as of March 31, 2025 and 2024 by class of financing receivable and type of concession granted that were modified during the three months ended March 31, 2025 and 2024.


Three months ended March 31, 2025	Term extension		Interest rate reduction		Interest rate reduction and term extension		Total		% of total class of financing receivables
Commercial and industrial	$	152	$	—	$	—	$	152	—	%
Construction	539		—		—		539		0.1	%
Residential real estate:
1-to-4 family mortgage	—		—		85		85		—	%


Commercial real estate:
Owner occupied	—		143		—		143		—	%

Consumer and other	—		—		63		63		—	%
Total	$	691	$	143	$	148	$	982	—	%


Three months ended March 31, 2024	Term extension		Payment deferral and term extension		Total		% of total class of financing receivables

Construction	$	—	$	14,316	$	14,316	1.1	%




Commercial real estate:

Non-owner occupied	10,351		—		10,351		0.5	%
Consumer and other	22		—		22		—	%
Total	$	10,373	$	14,316	$	24,689	0.3	%

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


Three months ended March 31, 2025	Weighted average term extension (in months)	Weighted average interest rate reduction
Commercial and industrial	36	—%
Construction	6	—%
Residential real estate:
1-to-4 family mortgage	62	2.25%


Commercial real estate:
Owner occupied	—	2.50%

Consumer and other	13	2.00%


Three months ended March 31, 2024	Weighted average term extension (in months)	Weighted average payment deferral (in months)

Construction	6	3




Commercial real estate:

Non-owner occupied	6	—
Consumer and other	42	—

Schedule of Financing Receivable, Modified, Past Due

The tables below depict the performance of loans HFI as of March 31, 2025 and 2024 made to borrowers experiencing financial difficulty that were modified in the prior twelve months.


March 31, 2025	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	$	—	$	—	$	2,128	$	152	$	2,280
Construction	—		—		2,008		539		2,547
Residential real estate:
1-to-4 family mortgage	367		—		—		2,098		2,465
Residential line of credit	—		—		—		28		28

Commercial real estate:
Owner-occupied	—		—		—		143		143

Consumer and other	14		—		—		159		173
Total	$	381	$	—	$	4,136	$	3,119	$	7,636

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


March 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	$	—	$	—	$	179	$	—	$	179
Construction	—		—		—		14,316		14,316
Residential real estate:
1-to-4 family mortgage	—		—		65		—		65


Commercial real estate:

Non-owner occupied	—		—		—		10,351		10,351
Consumer and other	—		—		—		22		22
Total	$	—	$	—	$	244	$	24,689	$	24,933

(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.


	March 31, 2025
	Type of Collateral
	Real Estate		Farmland		Business Assets		Total
Commercial and industrial	$	—	$	—	$	2,540	$	2,540
Construction	25,189		1,654		—		26,843
Residential real estate:
1-to-4 family mortgage	281		—		—		281

Multi-family mortgage	9,856		—		—		9,856
Commercial real estate:
Owner occupied	—		6,041		—		6,041
Non-owner occupied	6,883		—		—		6,883

Total	$	42,209	$	7,695	$	2,540	$	52,444


	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

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 three months ended March 31, 2025 and 2024:


	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







Three Months Ended March 31, 2025
Beginning balance - December 31, 2024	$	16,667	$	31,698	$	25,340	$	10,952	$	10,512	$	11,993	$	25,531	$	19,249	$	151,942


Provision for (reversal of) credit losses on loans HFI	1,713		(6,046)		854		244		904		77		2,787		1,373		1,906
Recoveries of loans previously charged-off	42		—		9		—		—		21		1		503		576
Loans charged-off	(2,901)		—		(3)		—		—		(17)		—		(972)		(3,893)


Ending balance - March 31, 2025	$	15,521	$	25,652	$	26,200	$	11,196	$	11,416	$	12,074	$	28,319	$	20,153	$	150,531


	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






Three Months Ended March 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


(Reversal of) provision for credit losses on loans HFI	(2,298)		2,028		(433)		470		131		56		984		914		1,852
Recoveries of loans previously charged-off	14		—		56		—		—		40		—		306		416
Loans charged-off	(43)		(92)		—		(20)		—		—		—		(772)		(927)


Ending balance - March 31, 2024	$	17,272	$	37,308	$	26,128	$	9,918	$	8,973	$	10,749	$	23,949	$	17,370	$	151,667