Old National’s loans consist primarily of loans made to consumers and commercial clients in many diverse industries, including real estate rental and leasing, manufacturing, healthcare, wholesale trade, construction, and agriculture, among others. Most of Old National’s lending activity occurs within our principal geographic markets in the Midwest and Southeast regions of the United States. Old National manages concentrations of credit exposure by industry, product, geography, client relationship, and loan size.

Old National has loan participations, which qualify as participating interests, with other financial institutions. At June 30, 2025, these loans totaled $4.2 billion, of which $2.2 billion had been sold to other financial institutions and $2.0 billion was retained by Old National. The loan participations convey proportionate ownership rights with equal priority to each participating interest holder; involve no recourse (other than ordinary representations and warranties) to, or subordination by, any participating interest holder; all cash flows are divided among the participating interest holders in proportion to each holder’s share of ownership; and no holder has the right to pledge the entire financial asset unless all participating interest holders agree.

The loan categories used to monitor and analyze interest income and yields are different than the portfolio segments used to determine the allowance for credit losses on loans. The allowance for credit losses was calculated by pooling loans of similar credit risk characteristics and credit monitoring procedures. The four loan portfolios used to monitor and analyze interest income and yields – commercial, commercial real estate, residential real estate, and consumer – are reclassified into seven segments of loans – commercial, commercial real estate, business banking credit center (“BBCC”), residential real estate, indirect, direct, and home equity for purposes of determining the allowance for credit losses on loans. The commercial and commercial real estate loan categories shown on the balance sheet include the same pool of loans as the commercial, commercial real estate, and BBCC portfolio segments. The consumer loan category shown on the balance sheet is comprised of the same loans in the indirect, direct, and home equity portfolio segments. The portfolio segment reclassifications follow:


	Balance Sheet Line Item		Portfolio Segment Reclassifications		Portfolio Segment After Reclassifications

(dollars in thousands)
June 30, 2025
Commercial (1)	$	14,662,916	$	(218,095)	$	14,444,821
Commercial real estate	21,879,785		(175,181)		21,704,604
BBCC	N/A		393,276		393,276
Residential real estate	8,212,242		—		8,212,242
Consumer	3,147,876		(3,147,876)		N/A
Indirect	N/A		1,073,024		1,073,024
Direct	N/A		586,841		586,841
Home equity	N/A		1,488,011		1,488,011
Total loans (2)	$	47,902,819	$	—	$	47,902,819
Allowance for credit losses on loans	(565,109)		—		(565,109)
Net loans	$	47,337,710	$	—	$	47,337,710

December 31, 2024
Commercial (1)	$	10,288,560	$	(232,301)	$	10,056,259
Commercial real estate	16,307,486		(174,438)		16,133,048
BBCC	N/A		406,739		406,739
Residential real estate	6,797,586		—		6,797,586
Consumer	2,892,255		(2,892,255)		N/A
Indirect	N/A		1,096,778		1,096,778
Direct	N/A		514,144		514,144
Home equity	N/A		1,281,333		1,281,333
Total loans (2)	$	36,285,887	$	—	$	36,285,887
Allowance for credit losses on loans	(392,522)		—		(392,522)
Net loans	$	35,893,365	$	—	$	35,893,365

Commercial loans are classified primarily on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee; however, some loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its clients.

loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing Old National’s commercial real estate portfolio are diverse in terms of type and geographic location. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner-occupied loans.

Included with commercial real estate are construction loans, which are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, financial analysis of the developers and property owners, and feasibility studies, if available. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders (including Old National), sales of developed property, or an interim loan commitment from Old National until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions, and the availability of long-term financing.

BBCC loans are typically granted to small businesses with gross revenues of less than $5 million and aggregate debt of less than $1 million. Old National has established minimum debt service coverage ratios, minimum Fair Isaac Corporation (“FICO”) scores for owners and guarantors, and the ability to show relatively stable earnings as criteria to help mitigate risk. Repayment of these loans depends on the personal income of the borrowers and the cash flows of the business. These factors can be affected by such changes as economic conditions and unemployment levels.

With respect to residential loans that are secured by 1 - 4 family residences and are generally owner occupied, Old National typically establishes a maximum loan-to-value ratio and generally requires private mortgage insurance if that ratio is exceeded. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas such as unemployment levels. Repayment can also be impacted by changes in residential property values. Portfolio risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers.

Indirect loans are secured by automobile collateral, generally new and used cars and trucks from auto dealers that operate within our footprint. Old National typically mitigates the risk of indirect loans by establishing minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers and ongoing reviews of dealer relationships.

Direct loans are typically secured by collateral such as auto or real estate or are unsecured. Old National has established underwriting standards such as minimum FICO scores, maximum loan-to-value ratios, and maximum debt-to-income ratios. Repayment of these loans depends largely on the personal income of the borrowers, which can be affected by changes in economic conditions such as unemployment levels. Portfolio risk is mitigated by the fact that the loans are of smaller amounts spread over many borrowers.

Credit loss assumptions used when computing the level of expected credit losses are estimated using a model that categorizes loan pools based on loss history, delinquency status, and other credit trends and risk characteristics, including current conditions and reasonable and supportable forecasts about the future. The base forecast scenario considers unemployment, gross domestic product, home price index, and the BBB ratio (BBB spread to the 10-year U.S. Treasury rate). In addition to the quantitative inputs, several qualitative factors are considered. These factors include the risk that macroeconomic forecasts of unemployment, gross domestic product, home price index, and the BBB ratio may prove to be more severe and/or prolonged than our baseline forecast due to a variety of considerations. Old National’s activity in the allowance for credit losses on loans by portfolio segment was as follows:


(dollars in thousands)	Balance at Beginning of Period		Allowance Established for Acquired PCD Loans		Charge-offs		Recoveries		Provision for Loan Losses		Balance at End of Period
Three Months Ended June 30, 2025
Commercial	$	157,587	$	30,492	$	(16,805)	$	973	$	43,670	$	215,917
Commercial real estate	198,110		59,611		(9,438)		123		45,897		294,303
BBCC	2,695		—		(53)		99		(253)		2,488
Residential real estate	24,214		148		(247)		150		7,585		31,850
Indirect	9,063		6		(1,766)		905		222		8,430
Direct	2,053		47		(1,480)		701		1,243		2,564
Home equity	8,210		138		(165)		475		899		9,557
Total	$	401,932	$	90,442	$	(29,954)	$	3,426	$	99,263	$	565,109
Three Months Ended June 30, 2024
Commercial	$	123,437	$	14,593	$	(9,927)	$	462	$	9,895	$	138,460
Commercial real estate	160,640		8,483		(3,101)		542		23,347		189,911
BBCC	3,163		—		(935)		230		439		2,897
Residential real estate	21,899		134		—		762		340		23,135
Indirect	1,218		—		(1,084)		335		764		1,233
Direct	2,952		59		(1,884)		565		1,439		3,131
Home equity	6,404		653		(110)		100		521		7,568
Total	$	319,713	$	23,922	$	(17,041)	$	2,996	$	36,745	$	366,335
Six Months Ended June 30, 2025
Commercial	$	148,722	$	30,492	$	(26,116)	$	2,253	$	60,566	$	215,917
Commercial real estate	200,309		59,611		(21,098)		393		55,088		294,303
BBCC	2,813		—		(57)		399		(667)		2,488
Residential real estate	22,922		148		(277)		238		8,819		31,850
Indirect	8,434		6		(3,700)		1,344		2,346		8,430
Direct	2,304		47		(3,081)		1,213		2,081		2,564
Home equity	7,018		138		(165)		510		2,056		9,557
Total	$	392,522	$	90,442	$	(54,494)	$	6,350	$	130,289	$	565,109
Six Months Ended June 30, 2024
Commercial	$	118,333	$	14,593	$	(13,586)	$	796	$	18,324	$	138,460
Commercial real estate	155,099		8,483		(9,742)		1,577		34,494		189,911
BBCC	2,887		—		(1,011)		248		773		2,897
Residential real estate	20,837		134		—		781		1,383		23,135
Indirect	1,236		—		(2,222)		667		1,552		1,233
Direct	3,169		59		(4,312)		1,052		3,163		3,131
Home equity	6,049		653		(188)		145		909		7,568
Total	$	307,610	$	23,922	$	(31,061)	$	5,266	$	60,598	$	366,335

The allowance for credit losses on loans at June 30, 2025 included $90.4 million of allowance for credit losses on acquired PCD loans established through acquisition accounting adjustments on or after the Bremer acquisition date. In addition, the provision for credit losses on loans in the three and six months ended June 30, 2025 included $69.1 million to establish an allowance for credit losses on non-PCD Bremer loans acquired. The allowance for credit losses on loans at June 30, 2024 included $23.9 million of allowance for credit losses on acquired PCD loans established through acquisition accounting adjustments on or after the CapStar acquisition date. In addition, the provision for credit losses on loans in the three and six months ended June 30, 2024 included $15.3 million to establish an allowance for credit losses on non-PCD CapStar loans acquired. Accrued interest receivable on loans is excluded from the estimate of credit losses and totaled $193.4 million at June 30, 2025, compared to $171.6 million at December 31, 2024.

Old National maintains an allowance for credit losses on unfunded loan commitments to provide for the risk of loss inherent in these arrangements. The allowance is computed using a methodology similar to that used to determine the allowance for credit losses on loans, modified to take into account the probability of a drawdown on the commitment. The allowance for credit losses on unfunded loan commitments is classified as a liability account on the balance sheet within accrued expenses and other liabilities, while the corresponding provision for unfunded loan commitments is included in the provision for credit losses. Old National’s activity in the allowance for credit losses on unfunded loan commitments was as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(dollars in thousands)	2025		2024		2025		2024
Allowance for credit losses on unfunded loan commitments:
Balance at beginning of period	$	22,031	$	26,264	$	21,654	$	31,226
Provision for credit losses on unfunded loan commitments acquired during the period	6,458		1,763		6,458		1,763
Provision (release) for credit losses on unfunded loan commitments	1,114		(2,294)		1,491		(7,256)
Balance at end of period	$	29,603	$	25,733	$	29,603	$	25,733

Old National’s management monitors the credit quality of its loans on an ongoing basis with the asset quality rating (“AQR”) for commercial, commercial real estate, and BBCC loans reviewed annually or at renewal and the performance of its residential and consumer loans based upon the accrual status refreshed at least quarterly. Internally, management assigns an AQR to each non-homogeneous commercial, commercial real estate, and BBCC loan in the portfolio. The primary determinants of the AQR are the reliability of the primary source of repayment and the past, present, and projected financial condition of the borrower. The AQR will also consider current industry conditions. Major factors used in determining the AQR can vary based on the nature of the loan, but commonly include factors such as debt service coverage, internal cash flow, liquidity, leverage, operating performance, debt burden, FICO scores, occupancy, interest rate sensitivity, and expense burden. Old National uses the following definitions for risk ratings:


(dollars in thousands)	Origination Year														Revolving to Term
	2025		2024		2023		2022		2021		Prior		Revolving				Total
June 30, 2025
Commercial:

Pass	$	1,305,740	$	2,173,224	$	1,400,313	$	1,254,431	$	833,070	$	1,746,219	$	3,796,721	$	641,312	$	13,151,030
Special Mention	4,117		54,285		101,152		39,978		9,368		40,046		145,198		26,793		420,937
Classified:
Substandard	7,268		33,353		111,274		86,661		71,764		111,648		188,832		53,383		664,183
Nonaccrual	7		1,829		9,674		21,521		3,220		9,571		4,400		4,368		54,590
Doubtful	408		6,378		19,972		36,567		2,197		10,569		20,370		57,620		154,081
Total	$	1,317,540	$	2,269,069	$	1,642,385	$	1,439,158	$	919,619	$	1,918,053	$	4,155,521	$	783,476	$	14,444,821


Commercial real estate:

Pass	$	1,297,803	$	2,333,656	$	2,993,887	$	3,787,067	$	2,240,728	$	5,790,999	$	200,024	$	889,312	$	19,533,476
Special Mention	4,361		33,943		43,107		200,210		162,745		108,328		2,909		24,213		579,816
Classified:
Substandard	1,153		12,591		126,234		422,703		177,428		441,460		39,748		77,330		1,298,647
Nonaccrual	—		3,020		3,036		39,549		28,337		33,654		—		24,262		131,858
Doubtful	—		—		7,806		12,585		18,332		89,564		—		32,520		160,807
Total	$	1,303,317	$	2,383,210	$	3,174,070	$	4,462,114	$	2,627,570	$	6,464,005	$	242,681	$	1,047,637	$	21,704,604


BBCC:

Pass	$	25,569	$	57,920	$	59,656	$	40,620	$	24,128	$	85,692	$	63,751	$	17,712	$	375,048
Special Mention	—		578		500		523		274		2,406		1,522		2,160		7,963
Classified:
Substandard	95		415		1,014		35		68		476		132		4,196		6,431
Nonaccrual	—		—		33		68		270		517		—		324		1,212
Doubtful	—		—		386		253		149		1,085		—		749		2,622
Total	$	25,664	$	58,913	$	61,589	$	41,499	$	24,889	$	90,176	$	65,405	$	25,141	$	393,276


	Origination Year														Revolving to Term
	2024		2023		2022		2021		2020		Prior		Revolving				Total
December 31, 2024
Commercial:

Pass	$	1,852,046	$	1,267,721	$	1,145,488	$	699,429	$	450,332	$	624,522	$	2,577,941	$	593,232	$	9,210,711
Special Mention	46,935		102,372		32,250		40,221		21,538		20,535		80,625		28,978		373,454
Classified:
Substandard	27,139		49,340		77,835		35,036		19,307		25,503		78,210		40,217		352,587
Nonaccrual	2,221		1,072		4,199		1,530		604		1,357		719		829		12,531
Doubtful	3,419		20,145		27,016		1,774		5,451		1,494		15,405		32,272		106,976
Total	$	1,931,760	$	1,440,650	$	1,286,788	$	777,990	$	497,232	$	673,411	$	2,752,900	$	695,528	$	10,056,259

Commercial real estate:

Pass	$	2,196,306	$	2,555,236	$	3,825,305	$	2,065,037	$	1,362,703	$	1,641,611	$	122,708	$	891,682	$	14,660,588
Special Mention	72,020		31,203		158,254		48,524		37,693		64,357		—		111,900		523,951
Classified:
Substandard	47,079		55,923		249,269		102,913		39,466		142,110		996		76,897		714,653
Nonaccrual	3,693		411		3,579		15,922		1,930		3,231		—		118		28,884
Doubtful	7,787		9,689		16,501		37,455		22,817		59,879		—		50,844		204,972
Total	$	2,326,885	$	2,652,462	$	4,252,908	$	2,269,851	$	1,464,609	$	1,911,188	$	123,704	$	1,131,441	$	16,133,048

BBCC:

Pass	$	79,760	$	78,420	$	55,687	$	33,857	$	30,215	$	22,797	$	67,668	$	16,265	$	384,669
Special Mention	1,579		1,067		807		917		21		224		3,582		3,028		11,225
Classified:
Substandard	468		976		56		136		598		308		755		2,876		6,173
Nonaccrual	—		114		312		177		63		119		—		551		1,336
Doubtful	—		397		841		350		15		845		—		888		3,336
Total	$	81,807	$	80,974	$	57,703	$	35,437	$	30,912	$	24,293	$	72,005	$	23,608	$	406,739

For residential real estate and consumer loan classes, Old National evaluates credit quality based on the aging status of the loan and by payment activity. The performing or nonperforming status is updated on an on-going basis dependent upon improvement and deterioration in credit quality. The following table presents the amortized cost of term residential real estate and consumer loans based on payment activity and origination year:


	Origination Year														Revolving to Term
(dollars in thousands)	2025		2024		2023		2022		2021		Prior		Revolving				Total
June 30, 2025
Residential real estate:
Risk Rating:
Performing	$	322,748	$	609,589	$	659,834	$	1,777,593	$	2,108,457	$	2,672,799	$	—	$	258	$	8,151,278
Nonperforming	225		1,988		7,728		14,049		6,244		30,730		—		—		60,964
Total	$	322,973	$	611,577	$	667,562	$	1,791,642	$	2,114,701	$	2,703,529	$	—	$	258	$	8,212,242


Indirect:
Risk Rating:
Performing	$	211,857	$	370,286	$	221,363	$	171,636	$	64,620	$	28,802	$	—	$	—	$	1,068,564
Nonperforming	28		630		1,306		1,165		933		398		—		—		4,460
Total	$	211,885	$	370,916	$	222,669	$	172,801	$	65,553	$	29,200	$	—	$	—	$	1,073,024


Direct:
Risk Rating:
Performing	$	36,359	$	77,720	$	60,193	$	57,844	$	53,698	$	140,154	$	149,619	$	4,876	$	580,463
Nonperforming	—		363		762		535		414		3,713		10		581		6,378
Total	$	36,359	$	78,083	$	60,955	$	58,379	$	54,112	$	143,867	$	149,629	$	5,457	$	586,841


Home equity:
Risk Rating:
Performing	$	4,181	$	32	$	251	$	1,112	$	579	$	17,328	$	1,400,491	$	46,300	$	1,470,274
Nonperforming	40		19		53		959		95		3,988		1,002		11,581		17,737
Total	$	4,221	$	51	$	304	$	2,071	$	674	$	21,316	$	1,401,493	$	57,881	$	1,488,011


	Origination Year														Revolving to Term
	2024		2023		2022		2021		2020		Prior		Revolving				Total
December 31, 2024
Residential real estate:
Risk Rating:
Performing	$	509,704	$	476,698	$	1,455,085	$	1,662,195	$	1,574,961	$	1,058,175	$	43	$	271	$	6,737,132
Nonperforming	480		5,060		11,210		6,298		5,208		32,198		—		—		60,454
Total	$	510,184	$	481,758	$	1,466,295	$	1,668,493	$	1,580,169	$	1,090,373	$	43	$	271	$	6,797,586

Indirect:
Risk Rating:
Performing	$	438,835	$	279,910	$	227,691	$	92,223	$	37,937	$	14,810	$	—	$	—	$	1,091,406
Nonperforming	714		1,147		1,498		1,378		373		262		—		—		5,372
Total	$	439,549	$	281,057	$	229,189	$	93,601	$	38,310	$	15,072	$	—	$	—	$	1,096,778

Direct:
Risk Rating:
Performing	$	83,773	$	72,838	$	66,563	$	61,317	$	34,159	$	80,188	$	108,572	$	3,327	$	510,737
Nonperforming	96		313		365		352		468		1,730		1		82		3,407
Total	$	83,869	$	73,151	$	66,928	$	61,669	$	34,627	$	81,918	$	108,573	$	3,409	$	514,144

Home equity:
Risk Rating:
Performing	$	—	$	—	$	259	$	210	$	1,135	$	11,005	$	1,216,226	$	31,787	$	1,260,622
Nonperforming	—		—		1,278		91		209		4,920		2,594		11,619		20,711
Total	$	—	$	—	$	1,537	$	301	$	1,344	$	15,925	$	1,218,820	$	43,406	$	1,281,333


	Origination Year
(dollars in thousands)	2025		2024		2023		2022		2021		Prior		Revolving		Total
Three Months Ended June 30, 2025
Commercial	$	—	$	6,459	$	676	$	6,970	$	583	$	2,117	$	—		$	16,805
Commercial real estate	—		—		—		1,205		4,000		4,233		—			9,438
BBCC	—		—		13		31		9		—		—			53
Residential real estate	—		—		—		—		—		247		—			247
Indirect	12		631		557		317		193		56		—			1,766
Direct	171		205		223		300		304		251		26			1,480
Home equity	—		—		—		—		—		165		—			165
Total gross charge-offs	$	183	$	7,295	$	1,469	$	8,823	$	5,089	$	7,069	$	26		$	29,954

	Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving		Total
Three Months Ended June 30, 2024
Commercial	$	—	$	2,358	$	6,149	$	389	$	43	$	566	$	422		$	9,927
Commercial real estate	—		—		23		468		—		2,610		—			3,101
BBCC	—		605		153		35		112		30		—			935
Residential real estate	—		—		—		—		—		—		—			—
Indirect	54		531		377		96		6		20		—			1,084
Direct	75		79		394		347		173		172		644			1,884
Home equity	—		—		—		—		—		110		—			110
Total gross charge-offs	$	129	$	3,573	$	7,096	$	1,335	$	334	$	3,508	$	1,066		$	17,041

	Origination Year
	2025		2024		2023		2022		2021		Prior		Revolving		Total
Six Months Ended June 30, 2025
Commercial	$	—	$	6,881	$	4,795	$	11,056	$	589	$	2,795	$	—		$	26,116
Commercial real estate	—		—		303		1,956		11,996		6,843		—			21,098
BBCC	—		—		13		31		13		—		—			57
Residential real estate	—		—		—		—		—		277		—			277
Indirect	12		1,330		1,234		704		293		127		—			3,700
Direct	214		335		333		743		842		588		26			3,081
Home equity	—		—		—		—		—		165		—			165
Total gross charge-offs	$	226	$	8,546	$	6,678	$	14,490	$	13,733	$	10,795	$	26		$	54,494

	Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving		Total
Six Months Ended June 30, 2024
Commercial	$	—	$	2,358	$	9,630	$	422	$	51	$	570	$	555		$	13,586
Commercial real estate	—		—		23		2,644		—		7,075		—			9,742
BBCC	—		605		229		35		112		30		—			1,011
Residential real estate	—		—		—		—		—		—		—			—
Indirect	54		901		849		321		39		58		—			2,222
Direct	75		195		970		876		286		395		1,515			4,312
Home equity	—		—		—		34		—		154		—			188
Total gross charge-offs	$	129	$	4,059	$	11,701	$	4,332	$	488	$	8,282	$	2,070		$	31,061

Old National does not record interest on nonaccrual loans until principal is recovered. For all loan classes, a loan is generally placed on nonaccrual status when principal or interest becomes 90 days past due unless it is well secured and in the process of collection, or earlier when concern exists as to the ultimate collectability of principal or interest. Interest accrued but not received is reversed against earnings. Cash interest received on these loans is applied to the principal balance until the principal is recovered or until the loan returns to accrual status. Loans may


(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Current		Total Loans
June 30, 2025
Commercial	$	26,962	$	18,401	$	62,918	$	108,281	$	14,336,540	$	14,444,821
Commercial real estate	47,550		16,438		113,743		177,731		21,526,873		21,704,604
BBCC	2,173		230		2,393		4,796		388,480		393,276
Residential	33,354		14,188		37,414		84,956		8,127,286		8,212,242
Indirect	7,088		2,166		906		10,160		1,062,864		1,073,024
Direct	1,524		1,346		2,502		5,372		581,469		586,841
Home equity	6,053		4,133		7,167		17,353		1,470,658		1,488,011
Total	$	124,704	$	56,902	$	227,043	$	408,649	$	47,494,170	$	47,902,819

December 31, 2024
Commercial	$	5,970	$	12,021	$	47,257	$	65,248	$	9,991,011	$	10,056,259
Commercial real estate	19,240		12,728		60,145		92,113		16,040,935		16,133,048
BBCC	1,227		861		1,430		3,518		403,221		406,739
Residential	49,331		12,085		26,698		88,114		6,709,472		6,797,586
Indirect	9,700		2,675		1,463		13,838		1,082,940		1,096,778
Direct	2,004		970		1,470		4,444		509,700		514,144
Home equity	4,765		3,399		7,567		15,731		1,265,602		1,281,333
Total	$	92,237	$	44,739	$	146,030	$	283,006	$	36,002,881	$	36,285,887


	June 30, 2025						December 31, 2024
(dollars in thousands)	Nonaccrual Amortized Cost		Nonaccrual With No Related Allowance		Past Due 90 Days or More and Accruing		Nonaccrual Amortized Cost		Nonaccrual With No Related Allowance		Past Due 90 Days or More and Accruing
Commercial	$	208,671	$	15,375	$	3,680	$	119,507	$	30,551	$	861
Commercial real estate	292,665		73,828		12,709		233,856		64,453		3,126
BBCC	3,834		—		—		4,672		—		—
Residential	60,964		—		225		60,454		—		—
Indirect	4,460		—		233		5,372		—		—
Direct	6,378		—		46		3,407		—		—
Home equity	17,737		—		—		20,711		—		73
Total	$	594,709	$	89,203	$	16,893	$	447,979	$	95,004	$	4,060

When management determines that foreclosure is probable, expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. A loan is considered collateral dependent when the borrower is experiencing financial difficulty, and the loan is expected to be repaid substantially through the operation or sale of the collateral. The class of loan represents the primary collateral type associated with the loan. Significant quarter-over-quarter changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraisal value. The following table presents the amortized cost basis of collateral dependent loans by class of loan:


	Type of Collateral
(dollars in thousands)	Real Estate		Blanket Lien		Investment Securities/Cash		Auto		Other
June 30, 2025
Commercial	$	22,397	$	142,003	$	9,707	$	6,286	$	4,340
Commercial real estate	283,893		4,409		1,464		—		123
BBCC	2,389		694		310		196		—
Residential	60,964		—		—		—		—
Indirect	—		—		—		4,460		—
Direct	4,761		20		4		319		22
Home equity	17,737		—		—		—		—
Total loans	$	392,141	$	147,126	$	11,485	$	11,261	$	4,485

December 31, 2024
Commercial	$	17,520	$	68,985	$	6,980	$	6,544	$	5,215
Commercial real estate	228,952		542		1,046		—		—
BBCC	3,201		1,137		86		248		—
Residential	60,454		—		—		—		—
Indirect	—		—		—		5,372		—
Direct	2,623		16		23		396		34
Home equity	20,711		—		—		—		—
Total loans	$	333,461	$	70,680	$	8,135	$	12,560	$	5,249


(dollars in thousands)	Term Extension		Total Class of Loans
Three Months Ended June 30, 2025
Commercial	$	39,797	0.3	%
Commercial real estate	44,835		0.2	%





Total	$	84,632	0.2	%

Three Months Ended June 30, 2024
Commercial	$	3,859	0.0	%
Commercial real estate	58,232		0.4	%





Total	$	62,091	0.2	%

Six Months Ended June 30, 2025
Commercial	$	94,248	0.7	%
Commercial real estate	146,609		0.7	%





Total	$	240,857	0.5	%

Six Months Ended June 30, 2024
Commercial	$	14,867	0.1	%
Commercial real estate	73,406		0.5	%





Total	$	88,273	0.2	%


(dollars in thousands)	30-59 Days Past Due		60-89 Days Past Due		Past Due 90 Days or More		Total Past Due		Current		Total Loans
June 30, 2025
Commercial	$	1,468	$	2,449	$	4,511	$	8,428	$	85,820	$	94,248
Commercial real estate	6,311		—		4,566		10,877		135,732		146,609





Total	$	7,779	$	2,449	$	9,077	$	19,305	$	221,552	$	240,857

June 30, 2024
Commercial	$	1,077	$	2,813	$	980	$	4,870	$	14,866	$	19,736
Commercial real estate	8,854		5,077		27,017		40,948		72,083		113,031





Total	$	9,931	$	7,890	$	27,997	$	45,818	$	86,949	$	132,767

There were payment defaults on $4.6 million and $9.1 million of loans during the three and six months ended June 30, 2025, respectively, to borrowers whose loans were modified due to financial difficulties within the previous twelve months. The payment defaults did not materially impact the allowance for credit losses on loans. There were payment defaults on $27.0 million of loans during the three and six months ended June 30, 2024 to borrowers whose loans had been modified within the previous twelve months.