
(Dollars in thousands)	March 31, 2025		December 31, 2024
Residential real estate	$	1,850,079	1,858,929
Commercial real estate	10,952,809		10,963,713
Other commercial	3,121,477		3,119,535
Home equity	920,132		930,994
Other consumer	374,021		388,678
Loans receivable	17,218,518		17,261,849
Allowance for credit losses	(210,400)		(206,041)
Loans receivable, net	$	17,008,118	17,055,808
Net deferred origination fees included in loans receivable	$	(29,557)	(29,187)
Net purchase accounting discounts included in loans receivable	$	(31,218)	(34,361)
Accrued interest receivable on loans	$	76,596	73,935

Substantially all of the Company’s loans receivable are with borrowers in the Company’s geographic market areas. Although the Company has a diversified loan portfolio, a substantial portion of borrowers’ ability to service their obligations is dependent upon the economic performance in the Company’s markets.


	Three Months ended March 31, 2025
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	206,041	25,181	138,545	24,400	11,402	6,513

Provision for credit losses	6,154		1,352	1,468	1,722	(77)	1,689
Charge-offs	(3,897)		—	—	(1,536)	—	(2,361)
Recoveries	2,102		62	356	1,056	23	605
Balance at end of period	$	210,400	26,595	140,369	25,642	11,348	6,446


	Three Months ended March 31, 2024
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Balance at beginning of period	$	192,757	22,325	130,924	21,194	11,766	6,548
Acquisitions	3		—	3	—	—	—
Provision for credit losses	9,091		1,837	4,207	2,293	(764)	1,518
Charge-offs	(4,295)		—	—	(1,932)	(25)	(2,338)
Recoveries	1,223		4	19	539	22	639
Balance at end of period	$	198,779	24,166	135,153	22,094	10,999	6,367

During the three months ended March 31, 2025, the ACL increased primarily of the combined increase in qualitative factors and the impact from the economic forecasts. During the three months ended March 31, 2024, the ACL increased primarily as a result of the $5,271,000 provision for credit losses recorded as a result of the acquisition of Wheatland bank.

The sizeable charge-offs in the other consumer loan segment was driven by deposit overdraft charge-offs which typically experience high charge-off rates and the amounts were comparable to historical trends. The other segments generally experience routine charge-offs and recoveries, with occasional large credit relationships charge-offs and recoveries that cause fluctuations from prior periods. During the three months ended March 31, 2025, there have been no significant changes to the types of collateral securing collateral-dependent loans.

The following tables present an aging analysis of the recorded investment in loans:


	March 31, 2025
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	37,544	10,862	7,387	10,731	5,548	3,016
Accruing loans 60-89 days past due	8,914		—	1,872	4,643	1,257	1,142
Accruing loans 90 days or more past due	5,289		1,956	1,437	1,066	753	77
Non-accrual loans with no ACL	32,539		6,202	10,510	12,184	2,699	944
Non-accrual loans with ACL	357		75	177	18	—	87
Total past due and non-accrual loans	84,643		19,095	21,383	28,642	10,257	5,266
Current loans receivable	17,133,875		1,830,984	10,931,426	3,092,835	909,875	368,755
Total loans receivable	$	17,218,518	1,850,079	10,952,809	3,121,477	920,132	374,021


	December 31, 2024
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Accruing loans 30-59 days past due	$	25,347	5,195	8,852	6,261	1,965	3,074
Accruing loans 60-89 days past due	6,881		404	2,792	1,180	1,699	806
Accruing loans 90 days or more past due	6,177		1,509	2,899	985	646	138
Non-accrual loans with no ACL	20,060		6,850	8,012	1,691	2,826	681
Non-accrual loans with ACL	385		75	—	167	—	143
Total past due and non-accrual loans	58,850		14,033	22,555	10,284	7,136	4,842
Current loans receivable	17,202,999		1,844,896	10,941,158	3,109,251	923,858	383,836
Total loans receivable	$	17,261,849	1,858,929	10,963,713	3,119,535	930,994	388,678

A loan is considered collateral-dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. The collateral on the loans is a significant portion of what secures the collateral-dependent loans and significant changes to the fair value of the collateral can impact the ACL. During the three months ended March 31, 2025, there were no significant changes to collateral which secures the collateral-dependent loans, whether due to general deterioration or other reasons. The following tables present the amortized cost basis of collateral-dependent loans by collateral type:


	March 31, 2025
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Business assets	$	12,402	—	—	12,402	—	—
Residential real estate	14,559		6,277	4,905	523	2,681	173
Other real estate	26,015		—	25,435	170	18	392
Other	1,140		—	—	369	—	771
Total	$	54,116	6,277	30,340	13,464	2,699	1,336


	December 31, 2024
(Dollars in thousands)	Total		Residential Real Estate	Commercial Real Estate	Other Commercial	Home Equity	Other Consumer
Business assets	$	11,483	—	—	11,480	—	3
Residential real estate	14,425		6,924	4,107	508	2,808	78
Other real estate	22,016		1	21,066	561	18	370
Other	1,055		—	—	383	—	672
Total	$	48,979	6,925	25,173	12,932	2,826	1,123

The following disclosures for loan modifications made to borrowers experiencing financial difficulty (“MBFD”) are presented in accordance with ASC Topic 310. The following tables show the amortized cost basis at the end of the periods of MBFD loans by segment:


		At or for the Three Months ended March 31, 2025
	Term Extension and Payment Deferral					Combination - Term Extension and Interest Rate Reduction
(Dollars in thousands)		Amortized Cost Basis		% of Total Class			Amortized Cost Basis		% of Total Class		Total

Commercial real estate		$	6,224	0.1	%		$	—	—	%	$	6,224
Other commercial		—		—	%		53		—	%	53


Total		$	6,224				$	53			$	6,277


	At or for the Three Months ended March 31, 2024
	Interest Rate Reduction				Term Extension and Payment Deferral				Principal Forgiveness				Combination - Term Extension and Interest Rate Reduction
(Dollars in thousands)	Amortized Cost Basis		% of Total Class		Amortized Cost Basis		% of Total Class		Amortized Cost Basis		% of Total Class		Amortized Cost Basis		% of Total Class		Total
Residential real estate	$	—	—	%	$	1,112	0.1	%	$	—	—	%	$	—	—	%	$	1,112
Commercial real estate	2,758		—	%	13,978		0.1	%	$	658	—	%	30,525		0.3	%	47,919
Other commercial	—		—	%	16,185		0.5	%	—		—	%	1,587		0.1	%	17,772
Home equity	—		—	%	88		—	%	—		—	%	—		—	%	88
Other consumer	—		—	%	34		—	%	—		—	%	—		—	%	34
Total	$	2,758			$	31,397			$	658			$	32,112			$	66,925

At or for the Three Months ended March 31, 2024

Weighted Average Interest Rate Reduction

Weighted Average Term Extension

Residential real estate

—%

1.7 years

Commercial real estate

1.24%

4 months

Other commercial

—%

1.2 years

Home equity

—%

9 months

Other consumer

—%

1 month

Loans that were modified within the preceding twelve months that had a payment default during the period ended March 31, 2025 had an ending balances of $319,000, and $917,000, and were included in other commercial loans, and commercial real estate loans, respectively. During the period ending March 31, 2024, there were loans with period ending balances of $2,159,000 that were modified during the twelve months that had a payment default, and were included in commercial real estate. There were $1,297,000 and $462,000 of additional unfunded commitments on MBFDs outstanding at March 31, 2025 and December 31, 2024, respectively. At March 31, 2025 and December 31, 2024, the Company had $1,673,000 and $207,000, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At both March 31, 2025 and December 31, 2024, the Company had no OREO secured by residential real estate properties.


	March 31, 2025
(Dollars in thousands)	Total		Current	30-89 Days Past Due	90 Days or More Past Due	Non-Accrual

Commercial real estate	$	18,494	15,587	—	—	2,907
Other commercial	3,312		2,563	430	—	319


Total	$	21,806	18,150	430	—	3,226


	March 31, 2024
(Dollars in thousands)	Total		Current	30-89 Days Past Due	90 Days or More Past Due	Non-Accrual
Residential real estate	$	1,112	1,112	—	—	—
Commercial real estate	47,919		44,210	—	—	3,709
Other commercial	17,772		17,184	32	—	556
Home equity	88		—	—	—	88
Other consumer	34		34	—	—	—
Total	$	66,925	62,540	32	—	4,353

The Company categorizes commercial real estate and other commercial loans into risk categories based on relevant information about the ability of borrowers to service their obligations. The following tables present the amortized cost in commercial real estate and other commercial loans based on the Company’s internal risk rating. The date of a modification, renewal or extension of a loan is considered for the year of origination if the terms of the loan are as favorable to the Company as the terms are for a comparable loan to other borrowers with similar credit risk.


	March 31, 2025
(Dollars in thousands)	Gross Charge-Offs		Total	Pass	Special Mention	Substandard	Doubtful/ Loss
Commercial real estate loans
Term loans by origination year
2025 (year-to-date)	$	—	312,691	312,691	—	—	—
2024	—		1,390,740	1,358,077	1,926	30,737	—
2023	—		1,294,111	1,273,541	15,474	5,096	—
2022	—		2,264,759	2,207,649	22,980	34,130	—
2021	—		1,963,128	1,907,142	31,275	24,711	—
Prior	—		3,400,610	3,331,689	24,719	44,202	—
Revolving loans	—		326,770	320,583	2,286	3,901	—

Total	$	—	10,952,809	10,711,372	98,660	142,777	—
Other commercial loans
Term loans by origination year
2025 (year-to-date)	$	1,203	142,454	140,432	1,180	842	—
2024	12		319,137	315,934	2,164	865	174
2023	240		293,845	288,950	1,977	2,523	395
2022	22		512,739	505,303	3,136	4,298	2
2021	—		448,469	438,339	2,097	8,030	3
Prior	59		671,600	641,595	419	29,558	28
Revolving loans	—		733,233	697,652	10,603	24,965	13

Total	$	1,536	3,121,477	3,028,205	21,576	71,081	615


	December 31, 2024
(Dollars in thousands)	Gross Charge-Offs		Total		Pass	Special Mention	Substandard	Doubtful/ Loss
Commercial real estate loans
Term loans by origination year
2024	$	—	$	1,321,385	1,287,352	5,674	28,359	—
2023	—		1,334,689		1,311,808	18,151	4,730	—
2022	1,437		2,367,874		2,307,217	26,662	33,995	—
2021	1,128		2,043,830		1,988,629	30,965	24,236	—
2020	5		1,043,858		1,036,774	—	7,084	—
Prior	326		2,515,573		2,446,084	25,922	43,567	—
Revolving loans	—		336,504		331,130	1,199	4,175	—

Total	$	2,896	$	10,963,713	10,708,994	108,573	146,146	—
Other commercial loans
Term loans by origination year
2024	$	4,260	$	407,909	402,180	3,687	1,641	401
2023	83		315,890		312,154	533	3,203	—
2022	373		496,999		492,111	463	4,423	2
2021	525		462,173		452,731	743	8,680	19
2020	291		203,771		199,643	44	4,083	1
Prior	246		495,291		468,850	—	26,441	—
Revolving loans	—		737,502		706,991	17,612	12,886	13

Total	$	5,778	$	3,119,535	3,034,660	23,082	61,357	436

For residential real estate, home equity and other consumer loan segments, the Company evaluates credit quality primarily on the aging status of the loan. The following tables present the amortized cost in residential real estate, home equity and other consumer loans based on payment performance:


	March 31, 2025
(Dollars in thousands)	Gross Charge-Offs		Total	Performing	30-89 Days Past Due	Non-Accrual and 90 Days or More Past Due
Residential real estate loans
Term loans by origination year
2025 (year-to-date)	$	—	20,676	20,676	—	—
2024	—		229,810	228,650	463	697
2023	—		251,919	247,981	3,252	686
2022	—		642,493	639,552	2,941	—
2021	—		443,136	439,999	719	2,418
Prior	—		262,045	254,126	3,487	4,432
Revolving loans	—		—	—	—	—

Total	$	—	1,850,079	1,830,984	10,862	8,233
Home equity loans
Term loans by origination year
2025 (year-to-date)	$	—	—	—	—	—
2024	—		147	147	—	—
2023	—		1,060	1,035	—	25
2022	—		1,833	1,833	—	—
2021	—		771	771	—	—
Prior	—		4,034	4,001	3	30
Revolving loans	—		912,287	902,088	6,802	3,397

Total	$	—	920,132	909,875	6,805	3,452
Other consumer loans
Term loans by origination year
2025 (year-to-date)	$	2,040	32,177	30,687	1,490	—
2024	35		98,513	97,913	538	62
2023	94		80,861	80,114	604	143
2022	99		57,496	56,698	504	294
2021	37		31,645	30,872	521	252
Prior	56		36,214	35,740	220	254
Revolving loans	—		37,115	36,731	281	103

Total	$	2,361	374,021	368,755	4,158	1,108


	December 31, 2024
(Dollars in thousands)	Gross Charge-Offs		Total		Performing	30-89 Days Past Due	Non-Accrual and 90 Days or More Past Due
Residential real estate loans
Term loans by origination year
2024	$	40	$	211,519	210,806	—	713
2023	—		267,000		264,817	1,407	776
2022	—		655,918		652,993	2,566	359
2021	—		455,196		452,628	959	1,609
2020	—		90,752		90,649	—	103
Prior	—		178,544		173,003	667	4,874
Revolving loans	—		—		—	—	—

Total	$	40	$	1,858,929	1,844,896	5,599	8,434
Home equity loans
Term loans by origination year
2024	$	—	$	219	219	—	—
2023	17		1,072		1,045	—	27
2022	8		1,858		1,858	—	—
2021	—		780		780	—	—
2020	—		78		78	—	—
Prior	106		4,353		4,264	4	85
Revolving loans	—		922,634		915,614	3,660	3,360

Total	$	131	$	930,994	923,858	3,664	3,472
Other consumer loans
Term loans by origination year
2024	$	8,456	$	116,312	114,164	2,139	9
2023	431		89,684		89,218	262	204
2022	467		64,808		63,843	665	300
2021	238		36,755		36,233	261	261
2020	34		18,648		18,601	41	6
Prior	155		20,014		19,738	103	173
Revolving loans	—		42,457		42,039	409	9

Total	$	9,781	$	388,678	383,836	3,880	962