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Loans
 9 Months Ended
Sep. 30, 2025
Receivables [Abstract]  
Loans Loans
The table below identifies the Company’s loan portfolio segments and classes.
Portfolio SegmentClass of Financing Receivable
CommercialOwner occupied real estate
Non-owner occupied real estate
Residential spec homes
Development & spec land
Commercial and industrial
Residential real estateResidential mortgage
Residential construction
ConsumerDirect installment
Indirect installment
Home equity
Portfolio segment is defined as a level at which an entity develops and documents a systematic methodology to determine its allowance for credit losses. Class of financing receivable is defined as a group of financing receivables determined on the basis of both of the following, 1) risk characteristics of the financing receivable, and 2) an entity’s method for monitoring and assessing credit risk. Generally, the Bank does not move loans from a revolving loan to a term loan other than construction loans. Construction loans are reviewed and rewritten prior to being originated as a term loan.
The following table presents outstanding loans held for investment by portfolio class, as of September 30, 2025 and December 31, 2024:
September 30,
2025		December 31,
2024
Commercial
Owner occupied real estate$709,374 $667,165 
Non–owner occupied real estate1,610,937 1,501,456 
Residential spec homes16,783 15,611 
Development & spec land29,862 18,627 
Commercial and industrial989,609 875,297 
Total commercial3,356,565 3,078,156 
Real estate
Residential mortgage757,342 783,961 
Residential construction26,508 18,948 
Total real estate783,850 802,909 
Consumer
Direct installment82,377 97,190 
Indirect installment23,341 303,901 
Home equity577,536 564,884 
Total consumer683,254 965,975 
Total loans4,823,669 4,847,040 
Allowance for credit losses(50,178)(51,980)
Net loans$4,773,491 $4,795,060 
Total loans include net unearned discounts and deferred loan costs of $7.2 million at September 30, 2025 and $14.9 million at December 31, 2024, respectively.
Non–performing Loans

The following table presents non–accrual loans and loans past due over 90 days still on accrual by class of loans at September 30, 2025:

September 30, 2025
Total Non-accrualLoans Past Due Over 90 Days Still AccruingNon-accruing Loans with no Allowance for Credit Losses
Commercial
Owner occupied real estate$5,171 $— $1,363 
Non–owner occupied real estate3,258 — 139 
Residential spec homes— — — 
Development & spec land510 — — 
Commercial and industrial3,364 — 1,060 
Total commercial12,303 — 2,562 
Real estate
Residential mortgage9,256 — — 
Residential construction— — — 
Total real estate9,256 — — 
Consumer
Direct installment604 259 — 
Indirect installment1,159 173 — 
Home equity6,036 1,176 — 
Total consumer7,799 1,608 — 
Total$29,358 $1,608 $2,562 
The following table presents non–accrual loans and loans past due over 90 days still on accrual by class of loan at December 31, 2024:

December 31, 2024
Total Non-accrualLoans Past Due Over 90 Days Still AccruingNon-accruing Loans with no Allowance for Credit Losses
Commercial
Owner occupied real estate$2,448 $— $1,419 
Non–owner occupied real estate444 — 444 
Residential spec homes— — — 
Development & spec land534 — 534 
Commercial and industrial2,232 — 1,239 
Total commercial5,658 — 3,636 
Real estate
Residential mortgage11,215 — — 
Residential construction— — — 
Total real estate11,215 — — 
Consumer
Direct installment338 128 — 
Indirect installment1,542 358 — 
Home equity7,039 680 — 
Total consumer8,919 1,166 — 
Total$25,792 $1,166 $3,636 
There was no interest income recognized on non-accrual loans during the three and nine months periods ended September 30, 2025 and 2024, respectively, while the loans were in non-accrual status.
The amount of accrued interest receivable written off by the Company by reversing interest income was not material during the three and nine months periods ended September 30, 2025 and 2024, respectively.
The following table presents the payment status by class of loan at September 30, 2025:
September 30, 2025
Current30-59 Days
Past Due		60-89 Days
Past Due		90 Days or
Greater
Past Due		Total Past
Due		Total
Loans
Commercial
Owner occupied real estate$704,038 $44 $3,973 $1,318 $5,335 $709,373 
Non–owner occupied real estate1,605,731 2,357 — 2,849 5,206 1,610,937 
Residential spec homes16,783 — — — — 16,783 
Development & spec land29,352 510 — — 510 29,862 
Commercial and industrial982,095 2,858 2,095 2,561 7,514 989,609 
Total commercial3,337,999 5,769 6,068 6,728 18,565 3,356,564 
Real estate
Residential mortgage747,424 79 3,827 6,012 9,918 757,342 
Residential construction26,508 — — — — 26,508 
Total real estate773,932 79 3,827 6,012 9,918 783,850 
Consumer
Direct installment78,619 2,860 215 684 3,759 82,378 
Indirect installment19,052 3,038 543 708 4,289 23,341 
Home equity563,614 6,625 1,998 5,299 13,922 577,536 
Total consumer661,285 12,523 2,756 6,691 21,970 683,255 
Total$4,773,216 $18,371 $12,651 $19,431 $50,453 $4,823,669 
The following table presents the payment status by class of loan at December 31, 2024:
December 31, 2024
Current30-59 Days
Past Due		60-89 Days
Past Due		90 Days or
Greater
Past Due		Total Past
Due		Total
Loans
Commercial
Owner occupied real estate$665,875 $1,195 $— $95 $1,290 $667,165 
Non–owner occupied real estate1,500,229 931 — 296 1,227 1,501,456 
Residential spec homes15,611 — — — — 15,611 
Development & spec land18,627 — — — — 18,627 
Commercial and industrial872,893 2,155 70 179 2,404 875,297 
Total commercial3,073,235 4,281 70 570 4,921 3,078,156 
Real estate
Residential mortgage773,214 — 4,163 6,584 10,747 783,961 
Residential construction18,948 — — — — 18,948 
Total real estate792,162 — 4,163 6,584 10,747 802,909 
Consumer
Direct installment95,337 1,325 181 347 1,853 97,190 
Indirect installment298,048 4,179 806 868 5,853 303,901 
Home equity551,483 7,143 1,537 4,721 13,401 564,884 
Total consumer944,868 12,647 2,524 5,936 21,107 965,975 
Total$4,810,265 $16,928 $6,757 $13,090 $36,775 $4,847,040 
The entire balance of a loan is considered delinquent if the minimum payment contractually required to be made is not received by the specified due date.
Modified Loans
The following tables detail the amortized cost at September 30, 2025 of loans that were modified to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2025 and the amortized cost at September 30, 2024, of loans that were modified to borrowers experiencing financial difficulty during the three and nine months periods ended September 30, 2024:
Three Months Ended September 30, 2025
Term ExtensionInterest Rate Reduction Other-Than-Insignificant Payment DelayTerm Extension and Interest Rate ReductionTotal % of Loans Held for Investment
Commercial
Owner occupied real estate$550 $— $3,007 $— $3,557 0.51 %
Non-owner occupied real estate— — — — — — %
Development spec & land— — — — — — %
Commercial and industrial757 — 246 — 1,003 0.10 %
Total $1,307 $— $3,253 $— $4,560 0.09 %
Nine Months Ended September 30, 2025
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate ReductionTotal% of Loans Held for Investment
Commercial
Owner occupied real estate$550 $— $3,412 $— $3,962 0.56 %
Non-owner occupied real estate409 — — — 409 0.03 %
Development spec & land510 — — — 510 1.74 %
Commercial and industrial1,929 — 650 1,525 4,104 0.42 %
Total$3,398 $— $4,062 $1,525 $8,985 0.19 %
Three Months Ended September 30, 2024
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate ReductionTotal% of Loans Held for Investment
Commercial
Owner occupied real estate$2,038 $— $— $— $2,038 0.32 %
Non-owner occupied real estate— — — — — — %
Development spec & land— — — — — — %
Commercial and industrial1,111 — — — 1,111 0.14 %
Total$3,149 $— $— $— $3,149 0.07 %

Nine Months Ended September 30, 2024
Term ExtensionInterest Rate ReductionOther-Than-Insignificant Payment DelayTerm Extension and Interest Rate ReductionTotal% of Loans Held for Investment
Commercial
Owner occupied real estate$3,986 $— $— $— $3,986 0.63 %
Non-owner occupied real estate1,720 — 651 — 2,371 0.17 %
Development spec & land— — — — — — %
Commercial and industrial2,205 — — 437 2,642 0.33 %
Total$7,911 $— $651 $437 $8,999 0.19 %

The following tables summarize the financial impacts of loan modifications and payment deferrals, as applicable, during the three and nine months periods ended September 30, 2025 and 2024:
Three Months Ended September 30, 2025
Weighted Average Term Extension (In Months)Weighted average interest rate reduction (In Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension (In Months) & Rate Reduction (In Percentage Terms)
Commercial
Owner occupied real estate9— %100
Non-owner occupied real estate0— %00
Development spec & land0— %00
Commercial and industrial7— %10
Nine Months Ended September 30, 2025
Weighted Average Term Extension (In Months)Weighted average interest rate reduction (Int Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension (In Months) & Rate Reduction (In Percentage Terms)
Commercial
Owner occupied real estate9— %60
Non-owner occupied real estate12— %00
Development spec & land12— %00
Commercial and industrial9— %6
Weighted average term extension of 36 months & weighted average interest rate reduction of 1.73%

Three Months Ended September 30, 2024
Weighted Average Term Extension (In Months)Weighted average interest rate reduction (In Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension (In Months) & Rate Reduction (In Percentage Terms)
Commercial
Owner occupied real estate6— %00
Non-owner occupied real estate0— %00
Development spec & land0— %00
Commercial and industrial21— %0
Weighted average term extension of 0 months & Weighted average interest rate reduction of —%
Nine Months Ended September 30, 2024
Weighted Average Term Extension (In Months)Weighted average interest rate reduction (Int Percentage Terms)Weighted Average Payment Delay (In Months)Term Extension (In Months) & Rate Reduction (In Percentage Terms)
Commercial
Owner occupied real estate7— %00
Non-owner occupied real estate15— %50
Development spec & land0— %00
Commercial and industrial15— %0
Weighted average term extension of 14 months & weighted average interest rate reduction of 2.03%
The financial impacts of the modifications did not significantly impact our determination of the allowance for credit losses during the periods presented above.


The following table presents the amortized cost basis at September 30, 2025 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months:

September 30, 2025
Current30-89 Days Past Due90 Days Past DueTotal
Commercial
Owner occupied real estate$6,380 $— $— $6,380 
Non-owner occupied real estate— 409 — 409 
Development spec & land— 510 — 510 
Commercial and industrial5,245 — — 5,245 
Total$11,625 $919 $— $12,544 

The following table presents the amortized cost basis at September 30, 2024 of loans to borrowers experiencing financial difficulty that had been modified within the previous 12 months:
September 30, 2024
Current30-89 Days Past Due90 Days Past DueTotal
Commercial
Owner occupied real estate$3,986 $— $— $3,986 
Non-owner occupied real estate2,371 — — 2,371 
Development spec & land— — — — 
Commercial and industrial2,641 — — 2,641 
Total$8,998 $— $— $8,998 

On an ongoing basis, we monitor the performance of all modified loans according to their modified terms. The amortized cost of modified loans that had a payment default during the three and nine months ended September 30, 2025, which were still in default at period end, and were within 12 months or less of being modified was $0.9 and $3.7 million respectively. For the three and nine months ended September 30, 2024, the Company had $— and $1.3 million in payment defaults, respectively.
For purposes of this disclosure, the Company considers “default” to mean 30 days or more past due of contractual interest or principal.
Collateral Dependent Financial Assets
A collateral dependent financial loan relies solely on the operation or sale of the collateral for repayment. In evaluating the overall risk associated with the loan, the Company considers character, overall financial condition and resources, and payment record of the borrower; the prospects for support from any financially responsible guarantors; and the nature and degree of protection provided by the cash flow and value of any underlying collateral. However, as other sources of repayment become inadequate over time, the significance of the collateral's value increases and the loan may become collateral dependent.
The tables below present the amortized cost basis and allowance for credit losses (“ACL”) allocated for collateral dependent loans in accordance with ASC 326, which are individually evaluated to determine expected credit losses, at September 30, 2025 and December 31, 2024.
September 30, 2025
Real EstateAccounts
Receivable/
Equipment		OtherTotalACL
Allocation
Commercial
Owner occupied real estate$5,171 $— $— $5,171 $115 
Non–owner occupied real estate3,258 — — 3,258 214 
Development & spec land510 — — 510 — 
Commercial and industrial1,005 2,359 — 3,364 529 
Total commercial9,944 2,359 — 12,303 858 
Total collateral dependent loans (1)
$9,944 $2,359 $— $12,303 $858 
(1) Collateral dependent loans had a collateral fair value of $8.7 million at September 30, 2025
December 31, 2024
Real EstateAccounts
Receivable/
Equipment		OtherTotalACL
Allocation
Commercial
Owner occupied real estate$2,448 $— $— $2,448 $224 
Non–owner occupied real estate444 — — 444 — 
Development & spec land534 — — 534 — 
Commercial and industrial1,756 476 — 2,232 731 
Total commercial5,182 476 — 5,658 955 
Total collateral dependent loans (1)
$5,182 $476 $— $5,658 $955 
(1) Collateral dependent loans had a collateral fair value of $3.4 million at December 31, 2024
As of September 30, 2025, the Company had a carrying value of $1.5 million of repossessed assets. As of September 30, 2025, the Company had a recorded net investment of $0.3 million of consumer mortgage loans in which foreclosure proceedings have commenced. Repossessed assets are a component of other assets within the condensed consolidated balance sheet.
Credit Quality Indicators
Horizon Bank’s processes for determining credit quality differ slightly depending on whether a new loan or a renewed loan is being underwritten, or whether an existing loan is being re–evaluated for credit quality. The latter usually occurs upon receipt of current financial information or other pertinent data that would trigger a change in the credit quality grade.
•For new and renewed commercial loans, the Bank’s Credit Department, which acts independently of the loan officer, assigns the credit quality grade to the loan. Loan grades for loans with an aggregate credit exposure that exceeds the authorities in the respective regions (ranging from $3,000,000 to $6,000,000) are validated by the Loan Committee, which is chaired by the Chief Commercial Banking Officer (“CCBO”).
•Commercial loan officers are responsible for reviewing their loan portfolios and promptly assessing any adverse change in credit quality and revising the risk rating appropriately. When circumstances warrant a change in the credit quality grade, loan officers are required to notify the Credit Department of the change in the credit quality grade. Downgrades are accepted immediately, however, lenders must present their factual information to the Credit Department when recommending an upgrade. Downgrades to impaired status require the concurrence of the CCBO and the Senior Workout Loan Manager.
•The CCBO, or a designee, meets periodically with loan officers to discuss the status of past due loans and classified loans. These meetings are also designed to give the loan officers an opportunity to identify an existing loan that should be downgraded to a classified grade.
•Monthly, senior management meets as members of the Watch Committee, which reviews all of the past due, classified, and impaired loans and the relative trends of these assets. This committee also reviews the actions taken by management regarding foreclosure mitigation, loan extensions, loan modifications, other real estate owned and personal property repossessions. The information reviewed in this meeting acts as a precursor for developing management’s analysis of the adequacy of the Allowance for Credit Losses on Loans and Leases.
For residential real estate and consumer loans, Horizon uses a grading system based on delinquency. Loans that are 90 days or more past due, on non–accrual, or are classified as modified loans are graded “Substandard.” After being 90 to 120 days delinquent a loan is charged off unless it is well secured and in the process of collection. If the latter case exists, the loan is placed on non–accrual. Occasionally a mortgage loan may be graded as “Special Mention.” When this situation arises, it is because the characteristics of the loan and the borrower fit the definition of a Risk Grade 5 described below, which is normally used for grading commercial loans. Loans not graded Substandard are considered Pass.
Horizon Bank employs a nine–grade rating system to determine the credit quality of commercial loans. The first five grades represent acceptable quality, and the last four grades mirror the criticized and classified grades used by the bank regulatory agencies (special mention, substandard, doubtful, and loss). The loan grade definitions are detailed below.
Risk Grade 1: Excellent (Pass)
Loans secured by liquid collateral, such as certificates of deposit, reputable bank letters of credit, or other cash equivalents or loans to any publicly held company with a current long–term debt rating of A or better and meeting defined key financial metric ranges.
Risk Grade 2: Good (Pass)
Loans to businesses that have strong financial statements containing an unqualified opinion from a CPA firm and at least three years consecutive years of profits; loans supported by unaudited financial statements containing strong balance sheets, five consecutive years of profits, a five year satisfactory relationship with the Bank, and key balance sheet and income statement trends that are either stable or positive; loans secured by publicly traded marketable securities with required margins where there is no impediment to liquidation; loans to individuals backed by liquid personal assets and unblemished credit histories; or loans to publicly held companies with current long–term debt ratings of Baa or better and meeting defined key financial metric ranges.
Risk Grade 3: Satisfactory (Pass)
Loans supported by financial statements (audited or unaudited) that indicate average or slightly below average risk and having some deficiency or vulnerability to changing economic conditions; loans with some weakness but offsetting features of other support are readily available; loans that are meeting the terms of repayment, but which may be susceptible to deterioration if adverse factors are encountered and meeting defined key financial metric
ranges. Loans may be graded Satisfactory when there is no recent information on which to base a current risk evaluation and the following conditions apply:
•At inception, the loan was properly underwritten, did not possess an unwarranted level of credit risk, and the loan met the above criteria for a risk grade of Excellent, Good, or Satisfactory;
•At inception, the loan was secured with collateral possessing a loan value adequate to protect the Bank from loss.
•The loan has exhibited two or more years of satisfactory repayment with a reasonable reduction of the principal balance.
•During the period that the loan has been outstanding, there has been no evidence of any credit weakness. Some examples of weakness include slow payment, lack of cooperation by the borrower, breach of loan covenants, or the borrower is in an industry known to be experiencing problems. If any of these credit weaknesses is observed, a lower risk grade may be warranted.
Risk Grade 4: Satisfactory/Monitored
Loans in this category are considered to be of acceptable credit quality, but contain greater credit risk than Satisfactory rated loans and meet defined key financial metric ranges. Borrower displays acceptable liquidity, leverage, and earnings performance within the Bank’s minimum underwriting guidelines. The level of risk is acceptable but conditioned on the proper level of loan officer supervision. Loans that normally fall into this grade include acquisition, construction and development loans and income producing properties that have not reached stabilization.
Risk Grade 4W: Management Watch
Loans in this category are considered to be of acceptable quality and meet defined key financial metric ranges, but with above normal risk. Borrower displays potential indicators of weakness in the primary source of repayment resulting in a higher reliance on secondary sources of repayment. Balance sheet may exhibit weak liquidity and/or high leverage. There is inconsistent earnings performance without the ability to sustain adverse economic conditions. Borrower may be operating in a declining industry or the property type, as for a commercial real estate loan, may be high risk or in decline. These loans require an increased level of loan officer supervision and monitoring to assure that any deterioration is addressed in a timely fashion. Commercial construction loans are graded as 4W Management Watch until the projects are completed and stabilized.
Risk Grade 5: Special Mention
Loans which possess some temporary (normally less than one year) credit deficiency or potential weakness which deserves close attention. Such loans pose an unwarranted financial risk that, if not corrected, could weaken the loan by adversely impacting the future repayment ability of the borrower. The key distinctions of a Special Mention classification are that (1) it is indicative of an unwarranted level of risk and (2) weaknesses are considered “potential,” not “defined,” impairments to the primary source of repayment. These loans may be to borrowers with adverse trends in financial performance, collateral value and/or marketability, or balance sheet strength and must meet defined key financial metric ranges.
Risk Grade 6: Substandard
One or more of the following characteristics may be exhibited in loans classified Substandard:
•Loans which possess a defined credit weakness. The likelihood that a loan will be paid from the primary source of repayment is uncertain. Financial deterioration is under way and very close attention is warranted to ensure that the loan is collected without loss.
•Loans are inadequately protected by the current net worth and paying capacity of the obligor.
•The primary source of repayment is gone, and the Bank is forced to rely on a secondary source of repayment, such as collateral liquidation or guarantees.
•Loans have a distinct possibility that the Bank will sustain some loss if deficiencies are not corrected.
•Unusual courses of action are needed to maintain a high probability of repayment.
•The borrower is not generating enough cash flow to repay loan principal; however, it continues to make interest payments.
•The lender is forced into a subordinated or unsecured position due to flaws in documentation.
•Loans have been restructured so that payment schedules, terms, and collateral represent concessions to the borrower when compared to the normal loan terms.
•The lender is seriously contemplating foreclosure or legal action due to the apparent deterioration in the loan.
•There is a significant deterioration in market conditions to which the borrower is highly vulnerable.
•The borrower meets defined key financial metric ranges.
Risk Grade 7: Doubtful
One or more of the following characteristics may be present in loans classified Doubtful:
•Loans have all of the weaknesses of those classified as Substandard. However, based on existing conditions, these weaknesses make full collection of principal highly improbable.
•The primary source of repayment is gone, and there is considerable doubt as to the quality of the secondary source of repayment.
•The possibility of loss is high but because of certain important pending factors which may strengthen the loan, loss classification is deferred until the exact status of repayment is known.
•The borrower meets defined key financial metric ranges.
Risk Grade 8: Loss
Loans are considered uncollectible and of such little value that continuing to carry them as assets is not feasible. Loans will be classified Loss when it is neither practical nor desirable to defer writing off or reserving all or a portion of a basically worthless asset, even though partial recovery may be possible at some time in the future.
The following tables present loans by credit grades and origination year at September 30, 2025.
September 30, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Commercial
Owner occupied real estate
Pass$89,674 $78,616 $84,470 $82,654 $63,771 $187,836 $80,366 $13,251 $680,638 
Special Mention— 1,030 — — 1,391 5,335 2,357 100 10,213 
Substandard— 3,206 9,449 2,728 — 2,590 — 550 18,523 
Doubtful— — — — — — — — — 
Total owner occupied real estate$89,674 $82,852 $93,919 $85,382 $65,162 $195,761 $82,723 $13,901 $709,374 
Gross charge-offs during period$109 $257 $— $50 $— $22 $33 $— $471 
Non–owner occupied real estate
Pass$129,841 $185,379 $125,563 $233,754 $149,076 $423,758 $307,194 $14,125 $1,568,690 
Special Mention490 — 1,312 28,391 — — — — 30,193 
Substandard— 2,181 3,908 620 — 5,277 68 — 12,054 
Doubtful— — — — — — — — — 
Total non–owner occupied real estate$130,331 $187,560 $130,783 $262,765 $149,076 $429,035 $307,262 $14,125 $1,610,937 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Residential spec homes
Pass$2,173 $301 $— $— $— $— $8,895 $5,414 $16,783 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total residential spec homes$2,173 $301 $— $— $— $— $8,895 $5,414 $16,783 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Development & spec land
Pass$3,196 $817 $4,026 $757 $1,118 $2,043 $17,395 $— $29,352 
Special Mention— — — — — — — — — 
Substandard— — — — — — 510 — 510 
Doubtful— — — — — — — — — 
Total development & spec land$3,196 $817 $4,026 $757 $1,118 $2,043 $17,905 $— $29,862 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$232,182 $207,007 $81,826 $109,494 $57,518 $50,986 $47,224 $163,815 $950,052 
Special Mention1,451 1,768 442 557 33 331 11,072 10,417 26,071 
Substandard1,904 1,705 4,473 146 49 1,687 1,064 2,458 13,486 
Doubtful— — — — — — — — — 
Total commercial and industrial$235,537 $210,480 $86,741 $110,197 $57,600 $53,004 $59,360 $176,690 $989,609 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Total commercial$460,911 $482,010 $315,469 $459,101 $272,956 $679,843 $476,145 $210,130 $3,356,565 
September 30, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Real estate
Residential mortgage
Performing$50,764 $72,055 $114,833 $148,243 $130,929 $231,262 $— $— $748,086 
Non–performing— 186 3,610 973 361 4,126 — — 9,256 
Total residential mortgage$50,764 $72,241 $118,443 $149,216 $131,290 $235,388 $— $— $757,342 
Gross charge-offs during period$— $135 $82 $188 $355 $83 $— $— $843 
Residential construction
Performing$— $— $— $— $— $— $26,508 $— $26,508 
Non–performing— — — — — — — — — 
Total residential construction$— $— $— $— $— $— $26,508 $— $26,508 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Total real estate$50,764 $72,241 $118,443 $149,216 $131,290 $235,388 $26,508 $— $783,850 
September 30, 202520252024202320222021PriorRevolving Term LoansRevolving
Loans		Total
Consumer
Direct installment
Performing$7,651 $7,068 $50,076 $5,834 $3,612 $5,744 $11 $1,518 $81,514 
Non–performing— 16 665 73 78 31 — — 863 
Total direct installment$7,651 $7,084 $50,741 $5,907 $3,690 $5,775 $11 $1,518 $82,377 
Gross charge-offs during period$3 $100 $65 $52 $53 $— $7 $— $280 
Indirect installment
Performing$— $318 $4,424 $10,891 $3,907 $2,469 $— $— $22,009 
Non–performing— 40 236 616 262 178 — — 1,332 
Total indirect installment$— $358 $4,660 $11,507 $4,169 $2,647 $— $— $23,341 
Gross charge-offs during period$— $200 $598 $889 $315 $188 $— $— $2,190 
Home equity
Performing$10,457 $11,436 $17,405 $13,678 $4,589 $8,421 $30,246 $474,092 $570,324 
Non–performing— 83 623 432 2 173 5,899 — 7,212 
Total home equity$10,457 $11,519 $18,028 $14,110 $4,591 $8,594 $36,145 $474,092 $577,536 
Gross charge-offs during period$— $— $20 $7 $— $56 $788 $— $871 
Total consumer$18,108 $18,961 $73,429 $31,524 $12,450 $17,016 $36,156 $475,610 $683,254 
The following tables present loans by credit grades and origination year at December 31, 2024.
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Commercial
Owner occupied real estate
Pass$75,649 $74,305 $90,872 $68,978 $36,778 $178,936 $92,227 $12,365 $630,110 
Special Mention129 — 1,724 1,769 142 8,759 — 100 12,623 
Substandard2,970 8,761 1,051 6,307 — 4,843 — 500 24,432 
Doubtful— — — — — — — — — 
Total owner occupied real estate$78,748 $83,066 $93,647 $77,054 $36,920 $192,538 $92,227 $12,965 $667,165 
Gross charge-offs during period$— $— $— $— $— $1 $— $— $1 
Non–owner occupied real estate
Pass$194,167 $115,378 $244,266 $133,689 $100,688 $344,558 $298,288 $11,726 $1,442,760 
Special Mention— 4,211 16,409 1,249 — 31,083 — — 52,952 
Substandard83 297 — — — 5,364 — — 5,744 
Doubtful— — — — — — — — — 
Total non–owner occupied real estate$194,250 $119,886 $260,675 $134,938 $100,688 $381,005 $298,288 $11,726 $1,501,456 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Residential spec homes
Pass$362 $— $— $420 $— $— $10,986 $3,843 $15,611 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Doubtful— — — — — — — — — 
Total residential spec homes$362 $— $— $420 $— $— $10,986 $3,843 $15,611 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Development & spec land
Pass$819 $4,139 $788 $1,133 $328 $2,039 $7,931 $599 $17,776 
Special Mention— — — — — 317 — — 317 
Substandard— — — — — — 534 — 534 
Doubtful— — — — — — — — — 
Total development & spec land$819 $4,139 $788 $1,133 $328 $2,356 $8,465 $599 $18,627 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Commercial and industrial
Pass$242,562 $105,877 $128,707 $73,008 $6,954 $54,764 $48,313 $179,370 $839,555 
Special Mention1,246 324 1,245 28 1 1,573 9,519 9,281 23,217 
Substandard843 2,599 318 217 266 3,170 1,003 4,109 12,525 
Doubtful— — — — — — — — — 
Total commercial and industrial$244,651 $108,800 $130,270 $73,253 $7,221 $59,507 $58,835 $192,760 $875,297 
Gross charge-offs during period$— $— $— $— $— $45 $108 $— $153 
Total commercial$518,830 $315,891 $485,380 $286,798 $145,157 $635,406 $468,801 $221,893 $3,078,156 
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Real estate
Residential mortgage
Performing$69,264 $145,927 $160,780 $140,310 $78,563 $177,902 $— $— $772,746 
Non–performing201 1,619 2,125 1,472 706 5,092 — — 11,215 
Total residential mortgage$69,465 $147,546 $162,905 $141,782 $79,269 $182,994 $— $— $783,961 
Gross charge-offs during period$— $— $— $— $— $5 $— $— $5 
Residential construction
Performing$— $— $— $— $— $— $18,948 $— $18,948 
Non–performing— — — — — — — — — 
Total residential construction$— $— $— $— $— $— $18,948 $— $18,948 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Mortgage warehouse
Performing$— $— $— $— $— $— $— $— $— 
Non–performing— — — — — — — — — 
Total mortgage warehouse$— $— $— $— $— $— $— $— $— 
Gross charge-offs during period$— $— $— $— $— $— $— $— $— 
Total real estate$69,465 $147,546 $162,905 $141,782 $79,269 $182,994 $18,948 $— $802,909 
December 31, 202420242023202220212020PriorRevolving Term LoansRevolving
Loans		Total
Consumer
Direct installment
Performing$11,306 $59,850 $9,510 $5,398 $2,679 $6,003 $60 $1,918 $96,724 
Non–performing1 374 46 19 — 26 — — 466 
Total direct installment$11,307 $60,224 $9,556 $5,417 $2,679 $6,029 $60 $1,918 $97,190 
Gross charge-offs during period$72 $93 $169 $1 $35 $78 $9 $— $457 
Indirect installment
Performing$26,839 $70,143 $130,610 $49,458 $17,647 $7,304 $— $— $302,001 
Non–performing— 425 800 304 242 129 — — 1,900 
Total indirect installment$26,839 $70,568 $131,410 $49,762 $17,889 $7,433 $— $— $303,901 
Gross charge-offs during period$161 $449 $1,345 $527 $188 $99 $— $— $2,769 
Home equity
Performing$13,552 $21,845 $16,136 $5,110 $1,902 $9,210 $18,657 $470,753 $557,165 
Non–performing— 421 426 — 30 296 6,465 81 7,719 
Total home equity$13,552 $22,266 $16,562 $5,110 $1,932 $9,506 $25,122 $470,834 $564,884 
Gross charge-offs during period$— $23 $52 $88 $— $39 $110 $11 $323 
Total consumer$51,698 $153,058 $157,528 $60,289 $22,500 $22,968 $25,182 $472,752 $965,975