For the periods ended March 31, 2025 and 2024, and December 31, 2024, the following tables outline the Company’s loan portfolio by the ten portfolio segments where applicable.

Loans held-for-investment by portfolio segment are as follows (dollars in thousands):


	March 31,						December 31,
	2025			2024			2024
Commercial:
C&I	$	1,144,429		$	1,191,516		$	1,176,993
Municipal		338,303			211,013			369,246
Total Commercial		1,482,732			1,402,529			1,546,239
Agricultural		90,186			87,882			95,543
Real Estate:
Construction & Development		1,098,069			921,773			1,054,603
Farm		331,464			311,002			339,665
Non-Owner Occupied CRE		753,898			853,721			805,566
Owner Occupied CRE		1,142,618			1,032,845			1,083,100
Residential		2,217,740			1,918,573			2,196,767
Total Real Estate		5,543,789			5,037,914			5,479,701
Consumer:
Auto		679,189			549,837			638,560
Non-Auto		149,715			151,248			153,055
Total Consumer		828,904			701,085			791,615
Total Loans		7,945,611			7,229,410			7,913,098
Less: Allowance for credit losses		(101,080	)		(89,562	)		(98,325	)
Loans, net	$	7,844,531		$	7,139,848		$	7,814,773

Outstanding loan balances at March 31, 2025 and 2024, and December 31, 2024, are net of unearned income, including net deferred loan fees.

At March 31, 2025, $5,577,155,000 in loans held by our bank subsidiary were subject to blanket liens as security for a line of credit with the Federal Home Loan Bank of Dallas ("FHLB"). At March 31, 2025, this available line of credit was $2,118,666,000. At March 31, 2025, there was $810,000,000 used on the line advance for undisbursed commitments (letters of credit) used to secure public funds.

The Company had $61,688,000, $37,204,000 and $63,096,000 in nonaccrual, past due 90 days or more and still accruing, and foreclosed assets at March 31, 2025 and 2024, and December 31, 2024, respectively. Nonaccrual loans at March 31, 2025 and 2024, and December 31, 2024, consisted of the following (dollars in thousands):


	March 31,				December 31,
	2025		2024		2024
Commercial:
C&I	$	4,192	$	3,950	$	3,984
Municipal		17		—		—
Total Commercial		4,209		3,950		3,984
Agricultural		351		2,043		1,209
Real Estate:
Construction & Development		1,778		1,976		1,141
Farm		4,638		4,597		4,176
Non-Owner Occupied CRE		10,548		9,243		11,062
Owner Occupied CRE		28,954		5,719		30,074
Residential		8,812		7,815		9,348
Total Real Estate		54,730		29,350		55,801
Consumer:
Auto		795		486		638
Non-Auto		345		328		306
Total Consumer		1,140		814		944
Total	$	60,430	$	36,157	$	61,938

No significant additional funds are committed to be advanced in connection with nonaccrual loans as of March 31, 2025.

Summary information on the allowance for credit losses for the three-months ended March 31, 2025 and 2024, are outlined by portfolio segment in the following tables (dollars in thousands):


Three-Months Ended March 31, 2025	C&I			Municipal		Agricultural			Construction & Development			Farm
Beginning balance	$	15,436		$	200	$	1,653		$	19,861		$	2,871
Provision for loan losses		154			160		(125	)		(144	)		47
Recoveries		93			—		36			—			1
Charge-offs		(91	)		—		—			—			—
Ending balance	$	15,592		$	360	$	1,564		$	19,717		$	2,919


Three-Months Ended March 31, 2025 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE			Residential			Auto			Non-Auto			Total
Beginning balance	$	14,664	$	21,413		$	20,488		$	1,186		$	553		$	98,325
Provision for loan losses		1,042		(48	)		1,498			450			(43	)		2,991
Recoveries		3		302			3			198			74			710
Charge-offs		—		(175	)		(250	)		(339	)		(91	)		(946	)
Ending balance	$	15,709	$	21,492		$	21,739		$	1,495		$	493		$	101,080


Three-Months Ended March 31, 2024	C&I			Municipal		Agricultural			Construction & Development			Farm
Beginning balance	$	15,698		$	195	$	1,281		$	28,553		$	2,914
Provision for loan losses		501			—		2,017			(3,709	)		(397	)
Recoveries		111			—		5			—			—
Charge-offs		(204	)		—		(60	)		(33	)		—
Ending balance	$	16,106		$	195	$	3,243		$	24,811		$	2,517


Three-Months Ended March 31, 2024 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE			Residential		Auto			Non-Auto			Total
Beginning balance	$	13,425	$	13,813		$	11,654	$	810		$	391		$	88,734
Provision for loan losses		1,536		(1,099	)		1,813		384			210			1,256
Recoveries		7		42			98		112			47			422
Charge-offs		—		—			—		(399	)		(154	)		(850	)
Ending balance	$	14,968	$	12,756		$	13,565	$	907		$	494		$	89,562

Additionally, the Company records a reserve for unfunded commitments in other liabilities, which totaled $9,214,000, $7,455,000 and $8,677,000 at March 31, 2025 and 2024, and December 31, 2024, respectively. The provision for loan losses of $2,991,000 for the three-months ended March 31, 2025 is combined with the provision for unfunded commitments of $537,000 and reported in the net aggregate of $3,528,000 under the provision for credit losses in the consolidated statement of earnings for the three-months ended March 31, 2025.

The $1,256,000 provision for loan losses for the three-months ended March 31, 2024 above is combined with the reversal of provision for unfunded commitments of $448,000 and reported in the aggregate of $808,000 under the provision for credit losses for the three-months ended March 31, 2024.

The Company’s loans that are individually evaluated for credit losses (both collateral and non-collateral dependent) and their related allowances as of March 31, 2025 and 2024, and December 31, 2024, are summarized in the following tables by loan segment (dollars in thousands):


March 31, 2025	Collateral Dependent Loans Individually Evaluated for Credit Losses Without an Allowance		Collateral Dependent Loans Individually Evaluated for Credit Losses With an Allowance		Non-Collateral Dependent Loans Individually Evaluated for Credit Losses		Total Loans Individually Evaluated for Credit Losses		Related Allowance on Collateral Dependent Loans		Related Allowance on Non-Collateral Dependent Loans		Total Allowance for Credit Losses on Loans Individually Evaluated for Credit Losses
Commercial:
C&I	$	117	$	4,075	$	24,355	$	28,547	$	1,545	$	3,270	$	4,815
Municipal		—		17		9,584		9,601		—		172		172
Total Commercial		117		4,092		33,939		38,148		1,545		3,442		4,987
Agricultural		—		351		3,083		3,434		113		997		1,110
Real Estate:
Construction & Development		487		1,291		8,549		10,327		62		436		498
Farm		747		3,891		6,298		10,936		27		321		348
Non-Owner Occupied CRE		6,494		4,054		29,178		39,726		1,620		4,008		5,628
Owner Occupied CRE		16,831		12,123		49,686		78,640		4,953		2,369		7,322
Residential		1,309		7,503		50,570		59,382		1,179		2,927		4,106
Total Real Estate		25,868		28,862		144,281		199,011		7,841		10,061		17,902
Consumer:
Auto		—		795		3,033		3,828		1		6		7
Non-Auto		—		345		846		1,191		1		2		3
Total Consumer		—		1,140		3,879		5,019		2		8		10
Total	$	25,985	$	34,445	$	185,182	$	245,612	$	9,501	$	14,508	$	24,009


March 31, 2024	Collateral Dependent Loans Individually Evaluated for Credit Losses Without an Allowance		Collateral Dependent Loans Individually Evaluated for Credit Losses With an Allowance		Non-Collateral Dependent Loans Individually Evaluated for Credit Losses		Total Loans Individually Evaluated for Credit Losses		Related Allowance on Collateral Dependent Loans		Related Allowance on Non-Collateral Dependent Loans		Total Allowance for Credit Losses on Loans Individually Evaluated for Credit Losses
Commercial:
C&I	$	756	$	3,194	$	37,504	$	41,454	$	1,541	$	4,170	$	5,711
Municipal		—		—		559		559		—		—		—
Total Commercial		756		3,194		38,063		42,013		1,541		4,170		5,711
Agricultural		713		1,330		4,044		6,087		849		1,881		2,730
Real Estate:
Construction & Development		903		1,073		28,953		30,929		189		2,054		2,243
Farm		—		4,597		1,936		6,533		727		31		758
Non-Owner Occupied CRE		1,850		7,393		22,412		31,655		1,235		1,772		3,007
Owner Occupied CRE		2,827		2,892		35,460		41,179		445		1,793		2,238
Residential		4,404		3,411		31,456		39,271		242		2,014		2,256
Total Real Estate		9,984		19,366		120,217		149,567		2,838		7,664		10,502
Consumer:
Auto		—		486		2,342		2,828		1		4		5
Non-Auto		—		328		764		1,092		72		57		129
Total Consumer		—		814		3,106		3,920		73		61		134
Total	$	11,453	$	24,704	$	165,430	$	201,587	$	5,301	$	13,776	$	19,077


December 31, 2024	Collateral Dependent Loans Individually Evaluated for Credit Losses Without an Allowance		Collateral Dependent Loans Individually Evaluated for Credit Losses With an Allowance		Non-Collateral Dependent Loans Individually Evaluated for Credit Losses		Total Loans Individually Evaluated for Credit Losses		Related Allowance on Collateral Dependent Loans		Related Allowance on Non-Collateral Dependent Loans		Total Allowance for Credit Losses on Loans Individually Evaluated for Credit Losses
Commercial:
C&I	$	854	$	3,130	$	25,778	$	29,762	$	1,463	$	3,042	$	4,505
Municipal		—		—		409		409		—		—		—
Total Commercial		854		3,130		26,187		30,171		1,463		3,042		4,505
Agricultural		743		466		3,002		4,211		220		945		1,165
Real Estate:
Construction & Development		732		409		10,033		11,174		26		465		491
Farm		412		3,764		6,412		10,588		23		427		450
Non-Owner Occupied CRE		6,668		4,394		28,832		39,894		1,406		2,852		4,258
Owner Occupied CRE		2,186		27,888		49,396		79,470		5,727		2,431		8,158
Residential		3,859		5,489		44,311		53,659		1,343		2,317		3,660
Total Real Estate		13,857		41,944		138,984		194,785		8,525		8,492		17,017
Consumer:
Auto		—		638		2,941		3,579		1		5		6
Non-Auto		—		306		799		1,105		51		73		124
Total Consumer		—		944		3,740		4,684		52		78		130
Total	$	15,454	$	46,484	$	171,913	$	233,851	$	10,260	$	12,557	$	22,817

The Company’s allowance for loans that are individually evaluated for credit losses and collectively evaluated for credit losses as of March 31, 2025 and 2024, and December 31, 2024, are summarized in the following table by loan segment (dollars in thousands). Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


March 31, 2025	C&I		Municipal		Agricultural		Construction & Development		Farm
Loans individually evaluated for credit losses	$	4,815	$	172	$	1,110	$	498	$	348
Loans collectively evaluated for credit losses		10,777		188		454		19,219		2,571
Total	$	15,592	$	360	$	1,564	$	19,717	$	2,919


March 31, 2025 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE		Residential		Auto		Non-Auto		Total
Loans individually evaluated for credit losses	$	5,628	$	7,322	$	4,106	$	7	$	3	$	24,009
Loans collectively evaluated for credit losses		10,081		14,170		17,633		1,488		490		77,071
Total	$	15,709	$	21,492	$	21,739	$	1,495	$	493	$	101,080


March 31, 2024	C&I		Municipal		Agricultural		Construction & Development		Farm
Loans individually evaluated for credit losses	$	5,711	$	—	$	2,730	$	2,243	$	758
Loans collectively evaluated for credit losses		10,395		195		513		22,568		1,759
Total	$	16,106	$	195	$	3,243	$	24,811	$	2,517


March 31, 2024 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE		Residential		Auto		Non-Auto		Total
Loans individually evaluated for credit losses	$	3,007	$	2,238	$	2,256	$	5	$	129	$	19,077
Loans collectively evaluated for credit losses		11,961		10,518		11,309		902		365		70,485
Total	$	14,968	$	12,756	$	13,565	$	907	$	494	$	89,562

The Company’s recorded investment in loans as of March 31, 2025 and 2024, and December 31, 2024, related to the balance in the allowance for credit losses follows below (dollars in thousands):


March 31, 2025	C&I		Municipal		Agricultural		Construction & Development		Farm
Loans individually evaluated for credit losses	$	28,547	$	9,601	$	3,434	$	10,327	$	10,936
Loans collectively evaluated for credit losses		1,115,882		328,702		86,752		1,087,742		320,528
Total	$	1,144,429	$	338,303	$	90,186	$	1,098,069	$	331,464


March 31, 2025 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE		Residential		Auto		Non-Auto		Total
Loans individually evaluated for credit losses	$	39,726	$	78,640	$	59,382	$	3,828	$	1,191	$	245,612
Loans collectively evaluated for credit losses		714,172		1,063,978		2,158,358		675,361		148,524		7,699,999
Total	$	753,898	$	1,142,618	$	2,217,740	$	679,189	$	149,715	$	7,945,611


March 31, 2024	C&I		Municipal		Agricultural		Construction & Development		Farm
Loans individually evaluated for credit losses	$	41,454	$	559	$	6,087	$	30,929	$	6,533
Loans collectively evaluated for credit losses		1,150,062		210,454		81,795		890,844		304,469
Total	$	1,191,516	$	211,013	$	87,882	$	921,773	$	311,002


March 31, 2024 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE		Residential		Auto		Non-Auto		Total
Loans individually evaluated for credit losses	$	31,655	$	41,179	$	39,271	$	2,828	$	1,092	$	201,587
Loans collectively evaluated for credit losses		822,066		991,666		1,879,302		547,009		150,156		7,027,823
Total	$	853,721	$	1,032,845	$	1,918,573	$	549,837	$	151,248	$	7,229,410


December 31, 2024	C&I		Municipal		Agricultural		Construction & Development		Farm
Loans individually evaluated for credit losses	$	29,762	$	409	$	4,211	$	11,174	$	10,588
Loans collectively evaluated for credit losses		1,147,231		368,837		91,332		1,043,429		329,077
Total	$	1,176,993	$	369,246	$	95,543	$	1,054,603	$	339,665


December 31, 2024 (continued)	Non-Owner Occupied CRE		Owner Occupied CRE		Residential		Auto		Non-Auto		Total
Loans individually evaluated for credit losses	$	39,894	$	79,470	$	53,659	$	3,579	$	1,105	$	233,851
Loans collectively evaluated for credit losses		765,672		1,003,630		2,143,108		634,981		151,950		7,679,247
Total	$	805,566	$	1,083,100	$	2,196,767	$	638,560	$	153,055	$	7,913,098

From a credit risk standpoint, the Company rates its loans in one of five categories: (i) pass, (ii) special mention, (iii) substandard, (iv) doubtful or (v) loss (which are charged-off).

The ratings of loans reflect a judgment about the risks of default and loss associated with the loan. The Company reviews the ratings on our credits as part of our ongoing monitoring of the credit quality of our loan portfolio. Ratings are adjusted to reflect the degree of risk and loss that are felt to be inherent in each credit as of each reporting period. Our methodology is structured so that specific allocations are increased in accordance with deterioration in credit quality (and a corresponding increase in risk and loss) or decreased in accordance with improvement in credit quality (and a corresponding decrease in risk and loss).

Credits rated special mention show clear signs of financial weaknesses or deterioration in credit worthiness, however, such concerns are not so pronounced that the Company generally expects to experience significant loss within the short-term. Such credits typically maintain the ability to perform within standard credit terms and credit exposure is not as prominent as credits rated more harshly.

Credits rated substandard are those in which the normal repayment of principal and interest may be, or has been, jeopardized by reason of adverse trends or developments of a financial, managerial, economic or political nature, or important weaknesses exist in collateral. A protracted workout on these credits is a distinct possibility. Prompt corrective action is therefore required to strengthen the Company’s position, and/or to reduce exposure and to assure that adequate remedial measures are taken by the borrower. Credit exposure becomes more likely in such credits and a serious evaluation of the secondary support to the credit is performed.

Credits rated doubtful are those in which full collection of principal appears highly questionable, and which some degree of loss is anticipated, even though the ultimate amount of loss may not yet be certain and/or other factors exist which could affect collection of debt. Based upon available information, positive action by the Company is required to avert or minimize loss. Credits rated doubtful are generally also placed on nonaccrual.

The following summarizes the Company’s internal ratings of its loans held-for-investment, including the year of origination, by portfolio segments, at March 31, 2025 (dollars in millions):


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
C&I
Risk rating:
Pass	$	167	$	550	$	193	$	121	$	42	$	42	$	—	$	1,115
Special mention		7		1		1		1		—		—		—		10
Substandard		1		9		3		3		1		2		—		19
Doubtful		—		—		—		—		—		—		—		—
Total	$	175	$	560	$	197	$	125	$	43	$	44	$	—	$	1,144
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Municipal
Risk rating:
Pass	$	10	$	140	$	26	$	74	$	12	$	67	$	—	$	329
Special mention		—		—		—		1		—		9		—		10
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total	$	10	$	140	$	26	$	75	$	12	$	76	$	—	$	339
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Agricultural
Risk rating:
Pass	$	24	$	53	$	4	$	3	$	2	$	1	$	—	$	87
Special mention		—		—		—		—		—		—		—		—
Substandard		—		3		—		—		—		—		—		3
Doubtful		—		—		—		—		—		—		—		—
Total	$	24	$	56	$	4	$	3	$	2	$	1	$	—	$	90
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Construction & Development
Risk rating:
Pass	$	169	$	567	$	116	$	162	$	53	$	20	$	1	$	1,088
Special mention		—		—		—		—		—		—		—		—
Substandard		3		4		1		1		1		—		—		10
Doubtful		—		—		—		—		—		—		—		—
Total	$	172	$	571	$	117	$	163	$	54	$	20	$	1	$	1,098
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Farm
Risk rating:
Pass	$	21	$	100	$	40	$	63	$	57	$	39	$	—	$	320
Special mention		—		—		—		—		—		—		—		—
Substandard		—		1		—		4		1		5		—		11
Doubtful		—		—		—		—		—		—		—		—
Total	$	21	$	101	$	40	$	67	$	58	$	44	$	—	$	331
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Non-Owner Occupied CRE
Risk rating:
Pass	$	24	$	143	$	77	$	223	$	125	$	122	$	—	$	714
Special mention		—		2		2		1		1		1		—		7
Substandard		—		10		2		2		9		10		—		33
Doubtful		—		—		—		—		—		—		—		—
Total	$	24	$	155	$	81	$	226	$	135	$	133	$	—	$	754
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Owner Occupied CRE
Risk rating:
Pass	$	38	$	208	$	128	$	272	$	174	$	244	$	—	$	1,064
Special mention		—		2		—		—		8		2		—		12
Substandard		1		7		8		33		10		8		—		67
Doubtful		—		—		—		—		—		—		—		—
Total	$	39	$	217	$	136	$	305	$	192	$	254	$	—	$	1,143
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Residential
Risk rating:
Pass	$	128	$	528	$	347	$	363	$	257	$	329	$	207	$	2,159
Special mention		—		1		1		1		2		2		—		7
Substandard		2		7		8		12		4		16		3		52
Doubtful		—		—		—		—		—		—		—		—
Total	$	130	$	536	$	356	$	376	$	263	$	347	$	210	$	2,218
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Auto
Risk rating:
Pass	$	117	$	307	$	105	$	107	$	31	$	8	$	—	$	675
Special mention		—		—		—		—		—		—		—		—
Substandard		—		1		1		1		1		—		—		4
Doubtful		—		—		—		—		—		—		—		—
Total	$	117	$	308	$	106	$	108	$	32	$	8	$	—	$	679
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Non-Auto
Risk rating:
Pass	$	18	$	57	$	30	$	22	$	12	$	3	$	7	$	149
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		1		—		—		—		1
Doubtful		—		—		—		—		—		—		—		—
Total	$	18	$	57	$	30	$	23	$	12	$	3	$	7	$	150
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2025		2024		2023		2022		2021		Prior		Revolving Loans Amortized Cost Basis		Total
Total Loans
Risk rating:
Pass	$	716	$	2,653	$	1,066	$	1,410	$	765	$	875	$	215	$	7,700
Special mention		7		6		4		4		11		14		—		46
Substandard		7		42		23		57		27		41		3		200
Doubtful		—		—		—		—		—		—		—		—
Total	$	730	$	2,701	$	1,093	$	1,471	$	803	$	930	$	218	$	7,946
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

The following summarizes the Company’s internal ratings of its loans held-for-investment, including the year of origination, by portfolio segments, at March 31, 2024 (dollars in millions):


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
C&I
Risk rating:
Pass	$	236	$	551	$	226	$	70	$	32	$	36	$	—	$	1,151
Special mention		6		17		1		—		—		—		—		24
Substandard		2		10		1		1		2		1		—		17
Doubtful		—		—		—		—		—		—		—		—
Total	$	244	$	578	$	228	$	71	$	34	$	37	$	—	$	1,192
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Municipal
Risk rating:
Pass	$	5	$	20	$	81	$	15	$	10		79	$	—	$	210
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		1		—		—		—		1
Doubtful		—		—		—		—		—		—		—		—
Total	$	5	$	20	$	81	$	16	$	10	$	79	$	—	$	211
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Agricultural
Risk rating:
Pass	$	18	$	54	$	6	$	3	$	1		—	$	—	$	82
Special mention		—		1		—		—		—		—		—		1
Substandard		3		1		—		—		—		1		—		5
Doubtful		—		—		—		—		—		—		—		—
Total	$	21	$	56	$	6	$	3	$	1	$	1	$	—	$	88
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Construction & Development
Risk rating:
Pass	$	117	$	438	$	240	$	63	$	19	$	14	$	—	$	891
Special mention		7		6		3		—		—		—		—		16
Substandard		1		7		1		6		—		—		—		15
Doubtful		—		—		—		—		—		—		—		—
Total	$	125	$	451	$	244	$	69	$	19	$	14	$	—	$	922
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Farm
Risk rating:
Pass	$	23	$	58	$	101	$	71	$	23	$	29	$	—	$	305
Special mention		—		1		—		—		—		—		—		1
Substandard		—		1		—		—		4		—		—		5
Doubtful		—		—		—		—		—		—		—		—
Total	$	23	$	60	$	101	$	71	$	27	$	29	$	—	$	311
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Non-Owner Occupied CRE
Risk rating:
Pass	$	59	$	133	$	244	$	174	$	104	$	108	$	—	$	822
Special mention		—		—		—		1		1		1		—		3
Substandard		—		2		1		3		7		16		—		29
Doubtful		—		—		—		—		—		—		—		—
Total	$	59	$	135	$	245	$	178	$	112	$	125	$	—	$	854
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Owner Occupied CRE
Risk rating:
Pass	$	28	$	155	$	305	$	202	$	110	$	190	$	—	$	990
Special mention		—		2		1		8		—		—		—		11
Substandard		—		2		6		5		1		18		—		32
Doubtful		—		—		—		—		—		—		—		—
Total	$	28	$	159	$	312	$	215	$	111	$	208	$	—	$	1,033
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Residential
Risk rating:
Pass	$	130	$	450	$	424	$	302	$	151	$	281	$	141	$	1,879
Special mention		—		1		1		1		1		2		1		7
Substandard		2		7		4		4		2		10		3		32
Doubtful		—		—		—		—		—		—		—		—
Total	$	132	$	458	$	429	$	307	$	154	$	293	$	145	$	1,918
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Auto
Risk rating:
Pass	$	91	$	175	$	188	$	64	$	22	$	8	$	—	$	548
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		1		1		—		—		—		2
Doubtful		—		—		—		—		—		—		—		—
Total	$	91	$	175	$	189	$	65	$	22	$	8	$	—	$	550
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Non-Auto
Risk rating:
Pass	$	18	$	59	$	41	$	20	$	3	$	2	$	7	$	150
Special mention		—		—		—		—		—		—		—		—
Substandard		—		1		—		—		—		—		—		1
Doubtful		—		—		—		—		—		—		—		—
Total	$	18	$	60	$	41	$	20	$	3	$	2	$	7	$	151
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


March 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Total Loans
Risk rating:
Pass	$	725	$	2,093	$	1,856	$	984	$	475	$	747	$	148	$	7,028
Special mention		13		28		6		10		2		3		1		63
Substandard		8		31		14		21		16		46		3		139
Doubtful		—		—		—		—		—		—		—		—
Total	$	746	$	2,152	$	1,876	$	1,015	$	493	$	796	$	152	$	7,230
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

The following summarizes the Company’s internal ratings of its loans held-for-investment, including the year of origination, by portfolio segments, at December 31, 2024 (dollars in millions):


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
C&I
Risk rating:
Pass	$	677	$	226	$	146	$	45	$	23	$	30	$	—	$	1,147
Special mention		7		—		1		—		1		—		—		9
Substandard		12		3		4		1		—		1		—		21
Doubtful		—		—		—		—		—		—		—		—
Total	$	696	$	229	$	151	$	46	$	24	$	31	$	—	$	1,177
Year-to-Date Gross Charge-Offs	$	—	$	1	$	—	$	—	$	—	$	—	$	—	$	1


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Municipal
Risk rating:
Pass	$	175	$	26	$	77	$	12	$	8	$	71	$	—	$	369
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total	$	175	$	26	$	77	$	12	$	8	$	71	$	—	$	369
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Agricultural
Risk rating:
Pass	$	76	$	8	$	4	$	2	$	1	$	—	$	—	$	91
Special mention		—		—		—		—		—		—		—		—
Substandard		3		—		1		—		—		—		—		4
Doubtful		—		—		—		—		—		—		—		—
Total	$	79	$	8	$	5	$	2	$	1	$	—	$	—	$	95
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Construction & Development
Risk rating:
Pass	$	667	$	133	$	166	$	55	$	14	$	8	$	1	$	1,044
Special mention		1		—		—		—		—		—		—		1
Substandard		7		1		1		1		—		—		—		10
Doubtful		—		—		—		—		—		—		—		—
Total	$	675	$	134	$	167	$	56	$	14	$	8	$	1	$	1,055
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Farm
Risk rating:
Pass	$	114	$	42	$	72	$	60	$	18	$	23	$	—	$	329
Special mention		—		—		—		—		—		—		—		—
Substandard		1		1		4		—		4		1		—		11
Doubtful		—		—		—		—		—		—		—		—
Total	$	115	$	43	$	76	$	60	$	22	$	24	$	—	$	340
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Non-Owner Occupied CRE
Risk rating:
Pass	$	166	$	86	$	242	$	133	$	58	$	81	$	—	$	766
Special mention		4		2		1		1		—		1		—		9
Substandard		10		2		3		6		7		3		—		31
Doubtful		—		—		—		—		—		—		—		—
Total	$	180	$	90	$	246	$	140	$	65	$	85	$	—	$	806
Year-to-Date Gross Charge-Offs	$	—	$	1	$	—	$	—	$	—	$	—	$	—	$	1


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Owner Occupied CRE
Risk rating:
Pass	$	170	$	128	$	270	$	177	$	99	$	160	$	—	$	1,004
Special mention		2		—		5		7		—		1		—		15
Substandard		1		14		30		10		1		8		—		64
Doubtful		—		—		—		—		—		—		—		—
Total	$	173	$	142	$	305	$	194	$	100	$	169	$	—	$	1,083
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Residential
Risk rating:
Pass	$	606	$	367	$	378	$	266	$	105	$	232	$	188	$	2,142
Special mention		1		1		1		3		—		2		—		8
Substandard		5		7		12		4		4		12		2		46
Doubtful		—		—		—		—		—		—		—		—
Total	$	612	$	375	$	391	$	273	$	109	$	246	$	190	$	2,196
Year-to-Date Gross Charge-Offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Auto
Risk rating:
Pass	$	338	$	122	$	126	$	38	$	10	$	2	$	—	$	636
Special mention		—		—		—		—		—		—		—		—
Substandard		1		1		1		1		—		—		—		4
Doubtful		—		—		—		—		—		—		—		—
Total	$	339	$	123	$	127	$	39	$	10	$	2	$	—	$	640
Year-to-Date Gross Charge-Offs	$	—	$	1	$	1	$	—	$	—	$	—	$	—	$	2


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Non-Auto
Risk rating:
Pass	$	68	$	35	$	25	$	14	$	2	$	1	$	7	$	152
Special mention		—		—		—		—		—		—		—		—
Substandard		—		—		1		—		—		—		—		1
Doubtful		—		—		—		—		—		—		—		—
Total	$	68	$	35	$	26	$	14	$	2	$	1	$	7	$	153
Year-to-Date Gross Charge-Offs	$	—	$	—	$	1	$	—	$	—	$	—	$	—	$	1


December 31,	2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Total
Total Loans
Risk rating:
Pass	$	3,057	$	1,173	$	1,506	$	802	$	338	$	608	$	196	$	7,680
Special mention		15		3		8		11		1		4		—		42
Substandard		40		29		57		23		16		25		2		192
Doubtful		—		—		—		—		—		—		—		—
Total	$	3,112	$	1,205	$	1,571	$	836	$	355	$	637	$	198	$	7,914
Year-to-Date Gross Charge-Offs	$	—	$	3	$	2	$	—	$	—	$	—	$	—	$	5

At March 31, 2025 and 2024, and December 31, 2024, the Company’s past due loans are as follows (dollars in thousands):


March 31, 2025	15-59 Days Past Due*		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans		90 Days Past Due Still Accruing
Commercial:
C&I	$	5,875	$	4,761	$	1,560	$	12,196	$	1,132,233	$	1,144,429	$	45
Municipal		211		—		—		211		338,092		338,303		—
Total Commercial		6,086		4,761		1,560		12,407		1,470,325		1,482,732		45
Agricultural		1,677		9		37		1,723		88,463		90,186		—
Real Estate:
Construction & Development		10,423		509		1,759		12,691		1,085,378		1,098,069		1,098
Farm		438		—		348		786		330,678		331,464		—
Non-Owner Occupied CRE		276		98		1,708		2,082		751,816		753,898		—
Owner Occupied CRE		1,485		501		1,143		3,129		1,139,489		1,142,618		—
Residential		24,171		2,978		2,023		29,172		2,188,568		2,217,740		—
Total Real Estate		36,793		4,086		6,981		47,860		5,495,929		5,543,789		1,098
Consumer:
Auto		1,307		183		11		1,501		677,688		679,189		—
Non-Auto		204		50		84		338		149,377		149,715		—
Total Consumer		1,511		233		95		1,839		827,065		828,904		—
Total	$	46,067	$	9,089	$	8,673	$	63,829	$	7,881,782	$	7,945,611	$	1,143


March 31, 2024	15-59 Days Past Due*		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans		90 Days Past Due Still Accruing
Commercial:
C&I	$	6,462	$	250	$	1,594	$	8,306	$	1,183,210	$	1,191,516	$	33
Municipal		25		—		—		25		210,988		211,013		—
Total Commercial		6,487		250		1,594		8,331		1,394,198		1,402,529		33
Agricultural		624		—		71		695		87,187		87,882		—
Real Estate:
Construction & Development		9,277		258		1,347		10,882		910,891		921,773		—
Farm		855		7		95		957		310,045		311,002		—
Non-Owner Occupied CRE		1,840		19		1,374		3,233		850,488		853,721		—
Owner Occupied CRE		3,269		—		70		3,339		1,029,506		1,032,845		—
Residential		13,804		414		2,540		16,758		1,901,815		1,918,573		—
Total Real Estate		29,045		698		5,426		35,169		5,002,745		5,037,914		—
Consumer:
Auto		967		120		—		1,087		548,750		549,837		—
Non-Auto		219		13		—		232		151,016		151,248		—
Total Consumer		1,186		133		—		1,319		699,766		701,085		—
Total	$	37,342	$	1,081	$	7,091	$	45,514	$	7,183,896	$	7,229,410	$	33


December 31, 2024	15-59 Days Past Due*		60-89 Days Past Due		Greater Than 90 Days		Total Past Due		Current		Total Loans		90 Days Past Due Still Accruing
Commercial:
C&I	$	4,232	$	3,938	$	1,368	$	9,538	$	1,167,455	$	1,176,993	$	258
Municipal		349		36		—		385		368,861		369,246		—
Total Commercial		4,581		3,974		1,368		9,923		1,536,316		1,546,239		258
Agricultural		917		10		795		1,722		93,821		95,543		—
Real Estate:
Construction & Development		5,652		564		609		6,825		1,047,778		1,054,603		—
Farm		433		1,128		—		1,561		338,104		339,665		—
Non-Owner Occupied CRE		666		—		1,979		2,645		802,921		805,566		—
Owner Occupied CRE		3,151		246		1,145		4,542		1,078,558		1,083,100		—
Residential		15,779		2,131		2,147		20,057		2,176,710		2,196,767		29
Total Real Estate		25,681		4,069		5,880		35,630		5,444,071		5,479,701		29
Consumer:
Auto		1,227		141		—		1,368		637,192		638,560		—
Non-Auto		137		34		—		171		152,884		153,055		—
Total Consumer		1,364		175		—		1,539		790,076		791,615		—
Total	$	32,543	$	8,228	$	8,043	$	48,814	$	7,864,284	$	7,913,098	$	287

* The Company monitors commercial, agricultural and real estate loans after such loans are 15 days past due. Consumer loans are monitored after such loans are 30 days past due.

The Company evaluates all loan restructurings according to the accounting guidance for loan modifications to determine if the restructuring results in a new loan or a continuation of the existing loan. Loan modifications to borrowers experiencing financial difficulty that result in a direct change in the timing or amount of contractual cash flows include situations where there is principal forgiveness, term extensions, interest rate reduction, and combinations of the listed modifications. Therefore, the disclosures related to loan restructurings are only for modifications that directly affect cash flows.

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 due to the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. During the three-months ended March 31, 2025 and 2024, respectively, loan modifications made to borrowers experiencing financial difficulty was insignificant.