LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

12 Months Ended

Dec. 31, 2025

The various categories of loans are summarized as follows:


(In thousands)	2025		2024
Consumer:
Credit cards	$	175,760	$	181,675
Other consumer	115,472		127,319
Total consumer	291,232		308,994
Real estate:
Construction and development	2,873,807		2,789,249
Single family residential	2,607,450		2,689,946
Other commercial	8,289,968		7,912,336
Total real estate	13,771,225		13,391,531
Commercial:
Commercial	2,382,339		2,434,175
Agricultural	306,300		261,154
Total commercial	2,688,639		2,695,329
Other	741,083		610,083
Total loans	$	17,492,179	$	17,005,937

Schedule of Nonaccrual Loans, Excluding Loans Acquired

The amortized cost basis of nonaccrual loans segregated by class of loans are as follows:


(In thousands)	2025		2024
Consumer:
Credit cards	$	568	$	565
Other consumer	386		678
Total consumer	954		1,243
Real estate:
Construction and development	17,516		10,681
Single family residential	33,345		33,972
Other commercial	45,417		28,524
Total real estate	96,278		73,177
Commercial:
Commercial	13,458		35,161
Agricultural	1,098		570
Total commercial	14,556		35,731
Other	3		3
Total	$	111,791	$	110,154

Schedule of Aging Analysis of Past Due Loans, Excluding Loans Acquired

An age analysis of the amortized cost basis of past due loans, including nonaccrual loans, segregated by class of loans is as follows:


(In thousands)	Gross 30-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans		90 Days Past Due & Accruing
December 31, 2025
Consumer:
Credit cards	$	2,414	$	751	$	3,165	$	172,595	$	175,760	$	697
Other consumer	1,073		166		1,239		114,233		115,472		—
Total consumer	3,487		917		4,404		286,828		291,232		697
Real estate:
Construction and development	13,344		17,418		30,762		2,843,045		2,873,807		—
Single family residential	34,731		15,690		50,421		2,557,029		2,607,450		—
Other commercial	10,879		38,047		48,926		8,241,042		8,289,968		148
Total real estate	58,954		71,155		130,109		13,641,116		13,771,225		148
Commercial:
Commercial	2,755		10,672		13,427		2,368,912		2,382,339		103
Agricultural	14		598		612		305,688		306,300		—
Total commercial	2,769		11,270		14,039		2,674,600		2,688,639		103
Other	—		3		3		741,080		741,083		—
Total	$	65,210	$	83,345	$	148,555	$	17,343,624	$	17,492,179	$	948

December 31, 2024
Consumer:
Credit cards	$	1,824	$	635	$	2,459	$	179,216	$	181,675	$	529
Other consumer	1,752		381		2,133		125,186		127,319		—
Total consumer	3,576		1,016		4,592		304,402		308,994		529
Real estate:
Construction and development	332		10,530		10,862		2,778,387		2,789,249		—
Single family residential	34,651		16,013		50,664		2,639,282		2,689,946		—
Other commercial	5,433		26,973		32,406		7,879,930		7,912,336		—
Total real estate	40,416		53,516		93,932		13,297,599		13,391,531		—
Commercial:
Commercial	3,535		27,059		30,594		2,403,581		2,434,175		74
Agricultural	393		104		497		260,657		261,154		—
Total commercial	3,928		27,163		31,091		2,664,238		2,695,329		74
Other	276		3		279		609,804		610,083		—
Total	$	48,196	$	81,698	$	129,894	$	16,876,043	$	17,005,937	$	603

Schedule of Troubled Debt Restructuring

The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the year ended December 31, 2025.


			Percent of				Percent of
	Interest Rate		Total Class				Total Class
(Dollars in thousands)	Reduction		of Loans		Term Extension		of Loans
Consumer:
Other consumer	$	—	—	%	$	20	0.02	%
Total consumer	—				20
Real estate:
Single family residential	953		0.04	%	—		—	%

Total real estate	953				—



Total	$	953			$	20


			Percent of				Percent of
	Interest Rate		Total Class				Total Class
(Dollars in thousands)	Reduction		of Loans		Term Extension		of Loans
Real estate:
Single family residential	$	1,241	0.05	%	$	—	—	%
Other commercial	—		—	%	26,894		0.34	%
Total real estate	$	1,241			$	26,894

Summary of Loans by Credit Risk Rating

The following table presents a summary of loans by credit quality indicator, as of December 31, 2025, segregated by class of loans.


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2025		2024		2023		2022		2021		2020 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Consumer - credit cards
Delinquency:
Current	$	—	$	—	$	—	$	—	$	—	$	—	$	172,595	$	—	$	172,595
30-89 days past due	—		—		—		—		—		—		2,414		—		2,414
90+ days past due	—		—		—		—		—		—		751		—		751
Total consumer - credit cards	—		—		—		—		—		—		175,760		—		175,760
Current-period consumer - credit cards gross charge-offs	—		—		—		—		—		—		6,370		—		6,370
Consumer - other
Delinquency:
Current	61,242		14,933		7,889		6,942		2,029		864		20,334		—		114,233
30-89 days past due	315		344		97		244		39		—		34		—		1,073
90+ days past due	31		55		34		39		3		—		4		—		166
Total consumer - other	61,588		15,332		8,020		7,225		2,071		864		20,372		—		115,472
Current-period consumer - other gross charge-offs	166		933		387		679		64		36		129		—		2,394
Real estate - C&D
Risk rating:
Pass	143,444		32,104		81,866		35,266		22,861		22,127		2,477,812		—		2,815,480
Special mention	—		—		—		—		—		—		3,281		—		3,281
Substandard	—		—		46		3,578		12		39		51,371		—		55,046
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - C&D	143,444		32,104		81,912		38,844		22,873		22,166		2,532,464		—		2,873,807
Current-period real estate - C&D gross charge-offs	—		303		—		—		4		21		14		—		342
Real estate - SF residential
Delinquency:
Current	240,137		180,340		264,324		475,155		254,727		578,426		563,920		—		2,557,029
30-89 days past due	2,013		2,087		3,187		8,148		2,080		14,425		2,791		—		34,731
90+ days past due	54		445		2,804		4,983		180		5,024		2,200		—		15,690
Total real estate - SF residential	242,204		182,872		270,315		488,286		256,987		597,875		568,911		—		2,607,450
Current-period real estate - SF residential gross charge-offs	—		309		281		122		47		217		269		—		1,245
Real estate - other commercial
Risk rating:
Pass	1,417,580		514,130		400,008		1,129,929		864,043		797,780		2,730,301		—		7,853,771
Special mention	—		5,123		2,003		27,132		2,126		5,531		127,576		—		169,491
Substandard	4,601		3,600		16,313		20,158		21,763		33,061		167,210		—		266,706
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - other commercial	1,422,181		522,853		418,324		1,177,219		887,932		836,372		3,025,087		—		8,289,968
Current-period real estate - other commercial gross charge-offs	192		5,940		26		293		102		1,215		23,720		—		31,488


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2025		2024		2023		2022		2021		2020 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Commercial
Risk rating:
Pass	348,879		164,847		142,008		155,170		69,768		37,007		1,390,040		—		2,307,719
Special mention	—		131		600		1,276		174		720		40,752		—		43,653
Substandard	3,380		6,054		2,771		1,696		1,598		4,524		10,941		—		30,964
Doubtful and loss	—		—		—		3		—		—		—		—		3
Total commercial	352,259		171,032		145,379		158,145		71,540		42,251		1,441,733		—		2,382,339
Current-period commercial - gross charge-offs	277		8,849		1,622		5,058		937		9,230		16,229				42,202
Commercial - agriculture
Risk rating:
Pass	47,211		16,056		14,185		10,101		3,519		1,793		211,605		—		304,470
Special mention	419		14		—		68		—		—		48		—		549
Substandard	—		20		99		24		8		120		1,010		—		1,281
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial - agriculture	47,630		16,090		14,284		10,193		3,527		1,913		212,663		—		306,300
Current-period commercial - agriculture gross charge-offs	—		6		11		—		—		13		351		—		381
Other
Delinquency:
Current	100,774		62,625		26,085		126,263		25,475		25,607		374,251		—		741,080
30-89 days past due	—		—		—		—		—		—		—		—		—
90+ days past due	—		—		—		—		—		3		—		—		3
Total other	100,774		62,625		26,085		126,263		25,475		25,610		374,251		—		741,083
Current-period other - gross charge-offs	—		—		—		—		—		—		240		—		240
Total	$	2,370,080	$	1,002,908	$	964,319	$	2,006,175	$	1,270,405	$	1,527,051	$	8,351,241	$	—	$	17,492,179

The following table presents a summary of loans by credit quality indicator, as of December 31, 2024 segregated by class of loans.


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2024		2023		2022		2021		2020		2019 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Consumer - credit cards
Delinquency:
Current	$	—	$	—	$	—	$	—	$	—	$	—	$	179,216	$	—	$	179,216
30-89 days past due	—		—		—		—		—		—		1,824		—		1,824
90+ days past due	—		—		—		—		—		—		635		—		635
Total consumer - credit cards	—		—		—		—		—		—		181,675		—		181,675
Current-period consumer - credit cards gross charge-offs	—		—		—		—		—		—		6,437		—		6,437
Consumer - other
Delinquency:
Current	63,986		17,227		17,877		4,713		1,304		893		19,186		—		$	125,186
30-89 days past due	515		176		701		59		14		2		285		—		1,752
90+ days past due	85		56		183		20		—		35		2		—		381
Total consumer - other	64,586		17,459		18,761		4,792		1,318		930		19,473		—		127,319
Current-period consumer - other gross charge-offs	192		680		553		98		13		10		292		—		1,838
Real estate - C&D
Risk rating:
Pass	50,288		113,056		71,908		28,921		18,187		20,653		2,468,334		—		$	2,771,347
Special mention	—		—		50		—		—		376		2,862		—		3,288
Substandard	59		409		66		532		—		88		13,460		—		14,614
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - C&D	50,347		113,465		72,024		29,453		18,187		21,117		2,484,656		—		2,789,249
Current-period real estate - C&D gross charge-offs	162		—		—		—		—		—		521		—		683
Real estate - SF residential
Delinquency:
Current	225,040		324,605		559,278		314,700		187,752		543,590		484,317		—		$	2,639,282
30-89 days past due	1,205		4,201		9,578		3,316		1,525		12,389		2,437		—		34,651
90+ days past due	1,016		606		4,578		630		1,299		3,951		3,933		—		16,013
Total real estate - SF residential	227,261		329,412		573,434		318,646		190,576		559,930		490,687		—		2,689,946
Current-period real estate - SF residential gross charge-offs	3		190		231		—		37		134		247		—		842
Real estate - other commercial
Risk rating:
Pass	603,206		490,128		1,519,950		1,021,169		419,769		646,399		2,800,863		—		7,501,484
Special mention	9,479		16,272		12,401		9,494		1,472		12,754		111,466		—		173,338
Substandard	12,093		17,099		11,399		3,063		12,073		31,126		150,661		—		237,514
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - other commercial	624,778		523,499		1,543,750		1,033,726		433,314		690,279		3,062,990		—		7,912,336
Current-period real estate - other commercial gross charge-offs	—		5,202		38		15		—		1		168		—		5,424


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2024		2023		2022		2021		2020		2019 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Commercial
Risk rating:
Pass	$	245,945	$	253,518	$	257,227	$	118,910	$	28,620	$	44,606	$	1,411,467	$	200	$	2,360,493
Special mention	112		583		523		313		6		1,025		7,498		—		10,060
Substandard	10,743		2,035		8,317		2,876		2,954		5,923		30,771		—		63,619
Doubtful and loss	—		—		3		—		—		—		—		—		3
Total commercial	256,800		256,136		266,070		122,099		31,580		51,554		1,449,736		200		2,434,175
Current-period commercial - gross charge-offs	536		1,087		5,311		3,500		913		1,994		13,289		—		26,630
Commercial - agriculture
Risk rating:
Pass	30,103		23,222		20,673		8,220		2,825		1,209		169,849		—		256,101
Special mention	—		—		111		—		—		—		2,299		—		2,410
Substandard	1,222		14		29		—		123		14		1,241		—		2,643
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial - agriculture	31,325		23,236		20,813		8,220		2,948		1,223		173,389		—		261,154
Current-period commercial - agriculture gross charge-offs	—		222		—		8		6		—		1		—		237
Other
Delinquency:
Current	71,671		35,574		136,416		26,930		1,287		30,085		307,841		—		609,804
30-89 days past due	—		276		—		—		—		—		—		—		276
90+ days past due	—		—		—		—		—		3		—		—		3
Total other	71,671		35,850		136,416		26,930		1,287		30,088		307,841		—		610,083
Current-period other - gross charge-offs	—		—		—		—		—		—		473		—		473
Total	$	1,326,768	$	1,299,057	$	2,631,268	$	1,543,866	$	679,210	$	1,355,121	$	8,170,447	$	200	$	17,005,937

Schedule of the Activity in the Allowance for Loan Losses

The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.


(In thousands)	Real Estate Collateral		Other Collateral		Total
December 31, 2025
Construction and development	$	44,114	$	—	$	44,114
Single family residential	—		—		—
Other commercial real estate	66,266		—		66,266
Commercial	—		1,994		1,994
Total	$	110,380	$	1,994	$	112,374

December 31, 2024
Construction and development	$	1,251	$	—	$	1,251
Single family residential	—		—		—
Other commercial real estate	69,429		—		69,429
Commercial	—		31,900		31,900
Total	$	70,680	$	31,900	$	102,580

The following table details activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2025, 2024 and 2023. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
December 31, 2025
Beginning balance, January 1, 2025	$	41,587	$	181,962	$	6,007	$	5,463	$	235,019
Provision for credit loss expense	26,633		34,384		5,205		2,816		69,038
Charge-offs	(42,583)		(33,075)		(6,370)		(2,634)		(84,662)
Recoveries	2,361		406		1,149		1,066		4,982
Net charge-offs	(40,222)		(32,669)		(5,221)		(1,568)		(79,680)
Ending balance, December 31, 2025	$	27,998	$	183,677	$	5,991	$	6,711	$	224,377

December 31, 2024
Beginning balance, January 1, 2024	$	36,470	$	177,177	$	5,868	$	5,716	$	225,231
Provision for credit loss expense	30,389		10,249		5,485		662		46,785
Charge-offs	(26,867)		(6,949)		(6,437)		(2,311)		(42,564)
Recoveries	1,595		1,485		1,091		1,396		5,567
Net charge-offs	(25,272)		(5,464)		(5,346)		(915)		(36,997)
Ending balance, December 31, 2024	$	41,587	$	181,962	$	6,007	$	5,463	$	235,019


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
December 31, 2023
Beginning balance, January 1, 2023	$	34,406	$	150,795	$	5,140	$	6,614	$	196,955
Provision for credit loss expense	5,934		36,381		5,023		86		47,424
Charge-offs	(5,962)		(12,385)		(5,303)		(2,522)		(26,172)
Recoveries	2,092		2,386		1,008		1,538		7,024
Net charge-offs	(3,870)		(9,999)		(4,295)		(984)		(19,148)
Ending balance, December 31, 2023	$	36,470	$	177,177	$	5,868	$	5,716	$	225,231

The components of provision for credit losses for the years ended December 31 were as follows:


(In thousands)	2025		2024		2023
Provision for credit losses related to:
Loans	$	69,038	$	46,785	$	47,424
Unfunded commitments	—		—		(16,300)
Securities - HTM	(3,214)		—		1,826
Securities - AFS	—		—		9,078
Total	$	65,824	$	46,785	$	42,028

Schedule of Financing Receivable, Purchased With Credit Deterioration

The following table provides a summary of loans purchased as part of the Spirit acquisition with credit deterioration at acquisition:


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Unpaid principal balance	$	8,258	$	66,534	$	—	$	59	$	74,851
PCD allowance for credit loss at acquisition	(6,433)		(3,187)		—		(2)		(9,622)
Non-credit related discount	(378)		(998)		—		(1)		(1,377)
Fair value of PCD loans	$	1,447	$	62,349	$	—	$	56	$	63,852