Loans Held for Investment and Allowance for Credit Losses on Loans (Tables)

6 Months Ended

Jun. 30, 2025

Receivables [Abstract]

Summary of Loans Held for Investment by Portfolio Segment

Loans held for investment are summarized by portfolio segment as follows:

	June 30, 2025		December 31, 2024
	(Dollars in thousands)
Real estate:
Commercial real estate owner occupied		937,426		931,709
Commercial real estate non-owner occupied		1,674,229		1,578,483
Construction and development < 60 months		684,291		756,662
Construction residential real estate < 60 months		235,032		250,373
Residential real estate first lien		1,462,758		1,431,265
Residential real estate all other		291,362		275,461
Agriculture		447,984		449,190
Commercial non-real estate		1,427,576		1,363,462
Consumer non-real estate		481,725		478,647
Oil and gas		472,105		509,858
Total (1)	$	8,114,488	$	8,025,110
(1) Excludes accrued interest receivable of $40.9 million at June 30, 2025 and $40.9 million at December 31, 2024, that is recorded in accrued interest receivable and other assets.

Summary of Other Real Estate Owned and Repossessed Assets

The following is a summary of other real estate owned ("OREO") and repossessed assets:

	June 30, 2025		December 31, 2024
	(Dollars in thousands)
Other real estate owned and repossessed assets	$	53,022	$	33,665

Summary of Rental Income and Operating Expenses

This property had the following rental income and operating expenses for the periods presented.

	Three Months Ended June 30,				Six Months Ended June 30,
	2025		2024		2025		2024
	(Dollars in thousands)
Rental income	$	3,202	$	3,085	$	6,323	$	6,026
Operating expense		2,673		2,673		5,297		4,923

Summary of Amounts Included in Nonaccrual Loans Segregated by Portfolio Segment

The following table is a summary of amounts included in nonaccrual loans, segregated by portfolio segment.

	June 30, 2025		December 31, 2024
	(Dollars in thousands)
Real estate:
Commercial real estate owner occupied	$	7,347	$	7,957
Commercial real estate non-owner occupied		21,857		8,913
Construction and development < 60 months		1,318		20,445
Construction residential real estate < 60 months		1,881		1,481
Residential real estate first lien		5,138		5,193
Residential real estate all other		828		653
Agriculture		1,754		2,047
Commercial non-real estate		6,914		8,552
Consumer non-real estate		1,151		1,028
Oil and gas		1,690		1,715
Total	$	49,878	$	57,984

Age Analysis of Loans Held for Investments

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. The following tables present an age analysis of the Company's loans held for investment:

	Age Analysis of Past Due Loans
	30-59 Days Past Due		60-89 Days Past Due		90 Days and Greater		Total Past Due Loans		Current Loans		Total Loans		Accruing Loans 90 Days or More Past Due
	(Dollars in thousands)
As of June 30, 2025
Real estate:
Commercial real estate owner occupied	$	525	$	33	$	6,750	$	7,308	$	930,118	$	937,426	$	514
Commercial real estate non-owner occupied		1,691		103		17,844		19,638		1,654,591		1,674,229		—
Construction and development < 60 months		753		2,361		1,185		4,299		679,992		684,291		16
Construction residential real estate < 60 months		—		—		1,068		1,068		233,964		235,032		—
Residential real estate first lien		8,090		1,850		4,884		14,824		1,447,934		1,462,758		2,470
Residential real estate all other		865		254		681		1,800		289,562		291,362		595
Agriculture		1,318		232		1,632		3,182		444,802		447,984		620
Commercial non-real estate		4,496		810		6,821		12,127		1,415,449		1,427,576		2,819
Consumer non-real estate		2,915		1,203		1,313		5,431		476,294		481,725		481
Oil and gas		827		491		1,686		3,004		469,101		472,105		—
Total	$	21,480	$	7,337	$	43,864	$	72,681	$	8,041,807	$	8,114,488	$	7,515
As of December 31, 2024
Real estate:
Commercial real estate owner occupied	$	2,810	$	273	$	7,963	$	11,046	$	920,663	$	931,709	$	569
Commercial real estate non-owner occupied		603		16,871		610		18,084		1,560,399		1,578,483		41
Construction and development < 60 months		317		351		20,327		20,995		735,667		756,662		116
Construction residential real estate < 60 months		292		622		616		1,530		248,843		250,373		—
Residential real estate first lien		9,128		2,118		3,332		14,578		1,416,687		1,431,265		797
Residential real estate all other		1,498		559		828		2,885		272,576		275,461		370
Agriculture		1,569		1,357		5,691		8,617		440,573		449,190		4,754
Commercial non-real estate		4,325		1,019		5,983		11,327		1,352,135		1,363,462		356
Consumer non-real estate		3,748		907		1,173		5,828		472,819		478,647		504
Oil and gas		1,111		458		232		1,801		508,057		509,858		232
Total	$	25,401	$	24,535	$	46,755	$	96,691	$	7,928,419	$	8,025,110	$	7,739

Gross Loans Held for Investment by Year of Origination and Internally Assigned Credit Grades

The following table summarizes the Company’s gross loans held for investment by year of origination and internally assigned credit grades:

	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
(Dollars in thousands)	2025		2024		2023		2022		2021		Prior		Amortized Cost Basis		Total
As of June 30, 2025
Commercial real estate owner occupied
Grade 1	$	46,987	$	72,680	$	103,525	$	126,529	$	89,591	$	184,795	$	12,575	$	636,682
Grade 2		37,790		35,379		32,027		47,992		46,707		57,105		7,354		264,354
Grade 3		386		13,853		10,990		3,054		2,244		1,865		138		32,530
Grade 4		—		243		599		153		558		2,307		—		3,860
Total commercial real estate owner occupied		85,163		122,155		147,141		177,728		139,100		246,072		20,067		937,426
Commercial real estate non-owner occupied
Grade 1	$	94,690	$	115,357	$	256,328	$	284,008	$	155,649	$	168,459	$	29,140	$	1,103,631
Grade 2		53,516		82,637		114,315		133,489		64,902		82,708		13,927		545,494
Grade 3		4,179		—		—		943		—		—		—		5,122
Grade 4		—		19,467		121		64		273		57		—		19,982
Total commercial real estate non-owner occupied		152,385		217,461		370,764		418,504		220,824		251,224		43,067		1,674,229
Construction and development < 60 months
Grade 1	$	68,650	$	102,545	$	101,111	$	108,571	$	7,853	$	13,230	$	31,451	$	433,411
Grade 2		97,774		57,984		34,458		30,861		608		15,252		8,908		245,845
Grade 3		2,588		483		123		36		346		125		—		3,701
Grade 4		61		—		18		816		303		136		—		1,334
Total construction and development < 60 months		169,073		161,012		135,710		140,284		9,110		28,743		40,359		684,291
Construction residential real estate < 60 months
Grade 1	$	69,559	$	50,902	$	7,351	$	4,780	$	88	$	1,749	$	3,847	$	138,276
Grade 2		51,610		33,149		1,163		752		—		—		7,112		93,786
Grade 3		769		320		—		—		—		—		—		1,089
Grade 4		813		745		117		206		—		—		—		1,881
Total construction residential real estate < 60 months		122,751		85,116		8,631		5,738		88		1,749		10,959		235,032
Residential real estate first lien
Grade 1	$	126,178	$	216,760	$	182,841	$	183,960	$	134,645	$	237,448	$	4,914	$	1,086,746
Grade 2		38,500		76,142		55,034		50,662		39,334		64,838		17,014		341,524
Grade 3		3,873		5,302		3,922		2,792		2,726		5,738		—		24,353
Grade 4		81		3,890		1,163		853		1,817		2,331		—		10,135
Total residential real estate first lien		168,632		302,094		242,960		238,267		178,522		310,355		21,928		1,462,758
Residential real estate all other
Grade 1	$	18,436	$	32,547	$	22,572	$	17,121	$	4,829	$	14,150	$	53,812	$	163,467
Grade 2		3,461		6,586		5,321		3,761		1,174		4,928		95,954		121,185
Grade 3		453		615		480		124		221		383		2,025		4,301
Grade 4		419		68		144		117		16		180		1,465		2,409
Total residential real estate all other		22,769		39,816		28,517		21,123		6,240		19,641		153,256		291,362
Agriculture
Grade 1	$	26,222	$	31,946	$	34,820	$	33,569	$	24,882	$	52,665	$	51,487	$	255,591
Grade 2		28,619		31,678		21,831		16,658		11,838		23,148		37,213		170,985
Grade 3		964		1,158		1,905		2,550		1,287		4,260		6,470		18,594
Grade 4		31		793		413		758		325		369		125		2,814
Total Agriculture		55,836		65,575		58,969		53,535		38,332		80,442		95,295		447,984
Commercial non-real estate
Grade 1	$	91,468	$	119,790	$	83,645	$	118,094	$	87,175	$	61,279	$	350,751	$	912,202
Grade 2		68,090		69,535		65,733		26,150		10,115		7,364		222,337		469,324
Grade 3		774		1,283		1,600		1,024		328		171		36,378		41,558
Grade 4		776		536		1,036		1,051		156		303		325		4,183
Grade 5		—		—		6		175		3		125		—		309
Total commercial non-real estate		161,108		191,144		152,020		146,494		97,777		69,242		609,791		1,427,576
Consumer non-real estate
Grade 1	$	105,760	$	138,858	$	80,119	$	37,879	$	16,468	$	6,264	$	19,337	$	404,685
Grade 2		11,788		16,246		12,780		7,176		3,127		1,331		14,638		67,086
Grade 3		591		1,408		1,983		985		613		275		13		5,868
Grade 4		1,833		723		681		494		242		112		1		4,086
Total consumer non-real estate		119,972		157,235		95,563		46,534		20,450		7,982		33,989		481,725
Oil and gas
Grade 1	$	71,743	$	14,587	$	10,006	$	3,822	$	17,204	$	2,878	$	248,947	$	369,187
Grade 2		37,339		8,812		6,555		3,650		2,675		2,818		39,275		101,124
Grade 3		471		60		68		—		159		50		520		1,328
Grade 4		—		—		—		—		58		408		—		466
Total oil and gas		109,553		23,459		16,629		7,472		20,096		6,154		288,742		472,105
Total loans held for investment	$	1,167,242	$	1,365,067	$	1,256,904	$	1,255,679	$	730,539	$	1,021,604	$	1,317,453	$	8,114,488

Gross Charge-offs by Year of Origination

The following tables summarize the Company's gross charge-offs by year of origination for the periods indicated:

	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
	2025		2024		2023		2022		2021		Prior		Amortized Cost Basis		Total
	(Dollars in thousands)
Three months ended June 30, 2025
Commercial real estate owner occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	58	$	58
Commercial real estate non-owner occupied
Current-period gross charge-offs		—		227		—		1		—		—		—		228
Construction and development < 60 months
Current-period gross charge-offs		—		—		—		—		3,741		—		—		3,741
Construction residential real estate < 60 months
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Residential real estate first lien
Current-period gross charge-offs		—		—		1		1		—		3		—		5
Residential real estate all other
Current-period gross charge-offs		—		—		—		—		—		—		7		7
Agriculture
Current-period gross charge-offs		—		1		2		—		4		—		—		7
Commercial non-real estate
Current-period gross charge-offs		5		6		127		94		14		238		42		526
Consumer non-real estate
Current-period gross charge-offs		25		90		247		80		6		41		5		494
Oil and gas
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Total current-period gross charge-offs	$	30	$	324	$	377	$	176	$	3,765	$	282	$	112	$	5,066

	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
	2024		2023		2022		2021		2020		Prior		Amortized Cost Basis		Total
	(Dollars in thousands)
Three months ended June 30, 2024
Commercial real estate owner occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate non-owner occupied
Current-period gross charge-offs		—		—		—		1		—		—		—		1
Construction and development < 60 months
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Construction residential real estate < 60 months
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Residential real estate first lien
Current-period gross charge-offs		2		23		—		2		4		36		—		67
Residential real estate all other
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Agriculture
Current-period gross charge-offs		—		—		6		13		—		—		—		19
Commercial non-real estate
Current-period gross charge-offs		6		155		43		8		—		190		378		780
Consumer non-real estate
Current-period gross charge-offs		21		256		150		28		21		30		4		510
Oil and gas
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Total current-period gross charge-offs	$	29	$	434	$	199	$	52	$	25	$	256	$	382	$	1,377

	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
	2025		2024		2023		2022		2021		Prior		Amortized Cost Basis		Total
	(Dollars in thousands)
Six months ended June 30, 2025
Commercial real estate owner occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	17	$	6	$	—	$	58	$	81
Commercial real estate non-owner occupied
Current-period gross charge-offs		—		227		—		1		—		—		—		228
Construction and development < 60 months
Current-period gross charge-offs		—		—		—		—		3,744		—		—		3,744
Construction residential real estate < 60 months
Current-period gross charge-offs		—		25		—		—		—		—		—		25
Residential real estate first lien
Current-period gross charge-offs		—		6		3		2		5		40		—		56
Residential real estate all other
Current-period gross charge-offs		—		—		—		—		—		—		13		13
Agriculture
Current-period gross charge-offs		—		10		2		—		5		—		17		34
Commercial non-real estate
Current-period gross charge-offs		24		16		148		127		47		310		55		727
Consumer non-real estate
Current-period gross charge-offs		25		247		471		134		12		47		5		941
Oil and gas
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Total current-period gross charge-offs	$	49	$	531	$	624	$	281	$	3,819	$	397	$	148	$	5,849

	Term Loans Amortized Cost Basis by Origination Year												Revolving Loans
	2024		2023		2022		2021		2020		Prior		Amortized Cost Basis		Total
	(Dollars in thousands)
Six months ended June 30, 2024
Commercial real estate owner occupied
Current-period gross charge-offs	$	—	$	—	$	—	$	15	$	—	$	—	$	—	$	15
Commercial real estate non-owner occupied
Current-period gross charge-offs		—		12		—		1		1		—		—		14
Construction and development < 60 months
Current-period gross charge-offs		—		—		—		—		—		—		—		—
Construction residential real estate < 60 months
Current-period gross charge-offs		—		3		—		—		—		—		—		3
Residential real estate first lien
Current-period gross charge-offs		3		23		—		3		4		57		—		90
Residential real estate all other
Current-period gross charge-offs		—		—		—		—		—		2		27		29
Agriculture
Current-period gross charge-offs		—		—		37		13		—		—		—		50
Commercial non-real estate
Current-period gross charge-offs		6		1,156		318		140		12		316		1,886		3,834
Consumer non-real estate
Current-period gross charge-offs		21		500		247		79		34		45		15		941
Oil and gas
Current-period gross charge-offs		—		9		83		—		—		—		—		92
Total current-period gross charge-offs	$	30	$	1,703	$	685	$	251	$	51	$	420	$	1,928	$	5,068

Activity in Allowance for Credit Losses on Loans

The following tables detail activity in the allowance for credit losses on loans for the periods presented. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

	Allowance for Credit Losses
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provision for /(benefit from) credit losses on loans			Balance at end of period
	(Dollars in thousands)
Three Months Ended June 30, 2025
Real estate:
Commercial real estate owner occupied	$	6,991	$	(58	)	$	2	$	(56	)	$	313		$	7,248
Commercial real estate non-owner occupied		33,753		(228	)		—		(228	)		1,692			35,217
Construction and development < 60 months		8,613		(3,741	)		6		(3,735	)		29			4,907
Construction residential real estate < 60 months		2,282		—			3		3			(20	)		2,265
Residential real estate first lien		4,666		(5	)		9		4			(25	)		4,645
Residential real estate all other		1,790		(7	)		—		(7	)		38			1,821
Agriculture		5,776		(7	)		7		—			(645	)		5,131
Commercial non-real estate		23,877		(526	)		250		(276	)		446			24,047
Consumer non-real estate		4,820		(494	)		83		(411	)		428			4,837
Oil and gas		7,887		—			—		—			(1,017	)		6,870
Total	$	100,455	$	(5,066	)	$	360	$	(4,706	)	$	1,239		$	96,988

	Allowance for Credit Losses
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provision for /(benefit from) credit losses on loans			Balance at end of period
	(Dollars in thousands)
Three Months Ended June 30, 2024
Real estate:
Commercial real estate owner occupied	$	7,468	$	—		$	11	$	11		$	(109	)	$	7,370
Commercial real estate non-owner occupied		33,180		(1	)		—		(1	)		688			33,867
Construction and development < 60 months		6,596		—			—		—			184			6,780
Construction residential real estate < 60 months		3,464		—			—		—			55			3,519
Residential real estate first lien		4,923		(67	)		21		(46	)		695			5,572
Residential real estate all other		1,652		—			3		3			74			1,729
Agriculture		6,137		(19	)		5		(14	)		(206	)		5,917
Commercial non-real estate		20,482		(780	)		280		(500	)		1,493			21,475
Consumer non-real estate		4,335		(510	)		58		(452	)		500			4,383
Oil and gas		9,030		—			—		—			(16	)		9,014
Total	$	97,267	$	(1,377	)	$	378	$	(999	)	$	3,358		$	99,626

	Allowance for Credit Losses
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provision for /(benefit from) credit losses on loans			Balance at end of period
	(Dollars in thousands)
Six Months Ended June 30, 2025
Real estate:
Commercial real estate owner occupied	$	6,869	$	(81	)	$	41	$	(40	)	$	419		$	7,248
Commercial real estate non-owner occupied		33,097		(228	)		—		(228	)		2,348			35,217
Construction and development < 60 months		8,671		(3,744	)		6		(3,738	)		(26	)		4,907
Construction residential real estate < 60 months		2,336		(25	)		3		(22	)		(49	)		2,265
Residential real estate first lien		4,568		(56	)		12		(44	)		121			4,645
Residential real estate all other		1,741		(13	)		21		8			72			1,821
Agriculture		5,696		(34	)		18		(16	)		(549	)		5,131
Commercial non-real estate		24,150		(727	)		375		(352	)		249			24,047
Consumer non-real estate		4,833		(941	)		164		(777	)		781			4,837
Oil and gas		7,536		—			—		—			(666	)		6,870
Total	$	99,497	$	(5,849	)	$	640	$	(5,209	)	$	2,700		$	96,988

	Allowance for Credit Losses
	Balance at beginning of period		Charge- offs			Recoveries		Net charge-offs			Provision for /(benefit from) credit losses on loans			Balance at end of period
	(Dollars in thousands)
Six Months Ended June 30, 2024
Real estate:
Commercial real estate owner occupied	$	7,483	$	(15	)	$	31	$	16		$	(129	)	$	7,370
Commercial real estate non-owner occupied		33,080		(14	)		—		(14	)		801			33,867
Construction and development < 60 months		3,950		—			—		—			2,830			6,780
Construction residential real estate < 60 months		3,414		(3	)		—		(3	)		108			3,519
Residential real estate first lien		4,914		(90	)		25		(65	)		723			5,572
Residential real estate all other		1,646		(29	)		8		(21	)		104			1,729
Agriculture		6,137		(50	)		17		(33	)		(187	)		5,917
Commercial non-real estate		22,745		(3,834	)		313		(3,521	)		2,251			21,475
Consumer non-real estate		4,401		(941	)		127		(814	)		796			4,383
Oil and gas		9,030		(92	)		—		(92	)		76			9,014
Total	$	96,800	$	(5,068	)	$	521	$	(4,547	)	$	7,373		$	99,626

Collateral-Dependent Gross Loans Held for Investment by Collateral Type and Related Specific Allocation

The following tables summarize collateral-dependent gross loans held for investment by collateral type and the related specific allocation as follows:

	Collateral Type
	Real Estate		Business Assets		Other Assets		Total		Specific Allocation
	(Dollars in thousands)
As of June 30, 2025
Real estate:
Commercial real estate owner occupied	$	1,399	$	—	$	—	$	1,399	$	283
Commercial real estate non-owner occupied		3,652		—		—		3,652		1,031
Construction and development < 60 months		800		—		—		800		225
Construction residential real estate < 60 months		206		—		—		206		75
Residential real estate first lien		333		—		—		333		99
Residential real estate all other		95		—		—		95		32
Agriculture		79		110		12		201		98
Commercial non-real estate		—		7,762		25		7,787		1,764
Consumer non-real estate		—		—		551		551		278
Oil and gas		—		1,111		—		1,111		110
Total collateral-dependent loans held for investment	$	6,564	$	8,983	$	588	$	16,135	$	3,995
	Collateral Type
	Real Estate		Business Assets		Other Assets		Total		Specific Allocation
	(Dollars in thousands)
As of December 31, 2024
Real estate:
Commercial real estate owner occupied	$	—	$	—	$	—	$	—	$	—
Commercial real estate non-owner occupied		7,890		—		—		7,890		879
Construction and development < 60 months		20,142		—		—		20,142		3,755
Construction residential real estate < 60 months		206		—		—		206		75
Residential real estate first lien		300		—		—		300		93
Residential real estate all other		100		—		—		100		34
Agriculture		1,584		110		13		1,707		688
Commercial non-real estate		—		10,087		108		10,195		2,222
Consumer non-real estate		—		—		399		399		242
Oil and gas		—		—		—		—		—
Total collateral-dependent loans held for investment	$	30,222	$	10,197	$	520	$	40,939	$	7,988

Transfers from Loans and Premises and Equipment to OREO and Repossessed Assets

Transfers from loans and premises and equipment to OREO and repossessed assets during the periods presented are summarized as follows:

	Six Months Ended June 30,
	2025		2024
	(Dollars in thousands)
Other real estate owned	$	18,122	$	8,995
Repossessed assets		1,680		1,575
Total	$	19,802	$	10,570