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Loans and Allowance for Credit Losses
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Loans and Allowance for Credit Losses LOANS AND ALLOWANCE FOR CREDIT LOSSES
At March 31, 2026, the Company’s loan portfolio was $17.93 billion, compared to $17.49 billion at December 31, 2025. The various categories of loans are summarized as follows: 

March 31,December 31,
(In thousands)20262025
Consumer:  
Credit cards$172,610 $175,760 
Other consumer96,387 115,472 
Total consumer268,997 291,232 
Real Estate:
Construction and development2,621,859 2,873,807 
Single family residential2,566,162 2,607,450 
Other commercial8,764,648 8,289,968 
Total real estate13,952,669 13,771,225 
Commercial:
Commercial2,521,440 2,382,339 
Agricultural333,508 306,300 
Total commercial2,854,948 2,688,639 
Other856,269 741,083 
Total loans$17,932,883 $17,492,179 

The above table presents total loans at amortized cost. The difference between amortized cost and unpaid principal balance is due to (i) premiums and discounts associated with acquisition date fair value adjustments on acquired loans of $2.4 million and $3.3 million at March 31, 2026 and December 31, 2025, respectively, and (ii) deferred origination costs and fees of $6.5 million and $5.4 million at March 31, 2026 and December 31, 2025, respectively.

Accrued interest on loans, which is excluded from the amortized cost of loans held for investment, totaled $80.7 million and $80.3 million at March 31, 2026 and December 31, 2025, respectively, and is included in interest receivable on the consolidated balance sheets.

Loan Origination/Risk Management – The Company seeks to manage its credit risk by diversifying its loan portfolio, determining that borrowers have adequate sources of cash flow for loan repayment without liquidation of collateral; obtaining and monitoring collateral; and providing an adequate allowance for credit losses by regularly reviewing loans through the internal loan review process. The loan portfolio is diversified by borrower, purpose and industry. The Company seeks to use diversification within the loan portfolio to reduce its credit risk, thereby minimizing the adverse impact on the portfolio if weaknesses develop in either the economy or a particular segment of borrowers. Collateral requirements are based on credit assessments of borrowers and may be used to recover the debt in case of default. 

Consumer – The consumer loan portfolio consists of credit card loans and other consumer loans. Credit card loans are diversified by geographic region to reduce credit risk and minimize any adverse impact on the portfolio. Although they are regularly reviewed to facilitate the identification and monitoring of creditworthiness, credit card loans are unsecured loans, making them more susceptible to economic downturns that result in increased unemployment. Other consumer loans include direct installment loans and account overdrafts. Loans in this portfolio segment are sensitive to unemployment and other key consumer economic measures. 
Real estate – The real estate loan portfolio consists of construction and development loans (“C&D”), single family residential loans and commercial loans. C&D and commercial real estate (“CRE”) loans can be particularly sensitive to valuation of real estate. CRE cycles are inevitable. The long planning and production process for new properties and rapid shifts in business conditions and employment create an inherent tension between supply and demand for commercial properties. While general economic trends often move individual markets in the same direction over time, the timing and magnitude of changes are determined by other forces unique to each market. CRE cycles tend to be local in nature and longer than other credit cycles. Factors influencing the CRE market are traditionally different from those affecting residential real estate markets; thereby making predictions for one market based on the other difficult. Additionally, submarkets within CRE – such as office, industrial, apartment, retail and hotel – also experience different cycles, providing an opportunity to lower the overall risk through diversification across types of CRE loans. Management realizes that local demand and supply conditions will also mean that different geographic areas will experience cycles of different amplitude and duration. The Company monitors these loans closely. 

Commercial – The commercial loan portfolio includes commercial and agricultural loans, representing loans to commercial customers and farmers for use in normal business or farming operations to finance working capital needs, equipment purchases or other expansion projects. Collection risk in this portfolio is driven by the creditworthiness of the underlying borrowers, particularly cash flow from customers’ business or farming operations. The Company continues its efforts to keep loan terms short, reducing the negative impact of upward movement in interest rates. Term loans are generally set up with one or three year balloons, and the Company has instituted a pricing mechanism for commercial loans. It is general practice to require personal guaranties on commercial loans for closely-held or limited liability entities.

Other – The other loan portfolio includes mortgage warehouse loans, representing warehouse lines of credit to mortgage originators for the disbursement of newly originated 1-4 family residential loans. Also included in the other loan portfolio are loans to public sector customers, including state and local governments.

Nonaccrual and Past Due Loans – Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Loans are placed on nonaccrual status when, in management’s opinion, the borrower may be unable to meet payment obligations as they become due, as well as when required by regulatory provisions. Loans may be placed on nonaccrual status regardless of whether or not such loans are considered past due. When interest accrual is discontinued, all unpaid accrued interest is reversed. Interest income is subsequently recognized only to the extent cash payments are received in excess of principal due. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured.

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

March 31,December 31,
(In thousands)20262025
Consumer:  
Credit cards$555 $568 
Other consumer331 386 
Total consumer886 954 
Real estate:
Construction and development39,354 17,516 
Single family residential37,279 33,345 
Other commercial46,065 45,417 
Total real estate122,698 96,278 
Commercial:
Commercial16,001 13,458 
Agricultural1,648 1,098 
Total commercial17,649 14,556 
Other— 3 
Total$141,233 $111,791 

As of March 31, 2026 and December 31, 2025, nonaccrual loans for which there was no related allowance for credit losses had an amortized cost of $38.6 million and $18.0 million, respectively. These loans are individually assessed and do not hold an allowance due to being adequately collateralized under the collateral-dependent valuation method.
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		CurrentTotal
Loans		90 Days
Past Due &
Accruing
March 31, 2026      
Consumer:      
Credit cards$2,448 $591 $3,039 $169,571 $172,610 $502 
Other consumer660 226 886 95,501 96,387 — 
Total consumer3,108 817 3,925 265,072 268,997 502 
Real estate:
Construction and development26,609 37,179 63,788 2,558,071 2,621,859 — 
Single family residential37,398 15,895 53,293 2,512,869 2,566,162 — 
Other commercial28,443 43,521 71,964 8,692,684 8,764,648 145 
Total real estate92,450 96,595 189,045 13,763,624 13,952,669 145 
Commercial:
Commercial6,500 13,572 20,072 2,501,368 2,521,440 — 
Agricultural1,095 491 1,586 331,922 333,508 — 
Total commercial7,595 14,063 21,658 2,833,290 2,854,948 — 
Other263 — 263 856,006 856,269 — 
Total$103,416 $111,475 $214,891 $17,717,992 $17,932,883 $647 
December 31, 2025
Consumer:
Credit cards$2,414 $751 $3,165 $172,595 $175,760 $697 
Other consumer1,073 166 1,239 114,233 115,472 — 
Total consumer3,487 917 4,404 286,828 291,232 697 
Real estate:
Construction and development13,344 17,418 30,762 2,843,045 2,873,807 — 
Single family residential34,731 15,690 50,421 2,557,029 2,607,450 — 
Other commercial10,879 38,047 48,926 8,241,042 8,289,968 148 
Total real estate58,954 71,155 130,109 13,641,116 13,771,225 148 
Commercial:
Commercial2,755 10,672 13,427 2,368,912 2,382,339 103 
Agricultural14 598 612 305,688 306,300 — 
Total commercial2,769 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 
 
Loan Modifications to Borrowers Experiencing Financial Difficulty

The Company has internal loan modification programs for borrowers experiencing financial difficulties. Modifications to borrowers experiencing financial difficulties may include interest rate reductions, principal or interest forgiveness and/or term extensions. The Company primarily uses interest rate reduction and/or payment modifications or extensions, with an occasional forgiveness of principal.
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 three month period ended March 31, 2026.

Percent ofPercent of
Interest RateTotal ClassTotal Class
(Dollars in thousands)Reductionof LoansTerm Extensionof Loans
Three Months Ended March 31, 2026
Consumer:
Other consumer$4 — %$7 0.01 %
Total consumer4 7 
Real estate:
Single family residential163 0.01 %— — %
Other commercial2,355 0.03 %— — %
Total real estate2,518 — 
Total$2,522 $7 

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2026. Furthermore, such modifications did not significantly impact the Company’s determination of the allowance for credit losses during the period.

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 three month period ended March 31, 2025.

Percent of
Interest RateTotal Class
(Dollars in thousands)Reductionof Loans
Three Months Ended March 31, 2025
Real estate:
Single family residential$451 0.02 %
Total real estate$451 

The financial effects of the loan modifications made to borrowers experiencing financial difficulty were not significant during the three month period ended March 31, 2025. Furthermore, such modifications did not significantly impact the Company’s determination of the allowance for credit losses during those periods.

The Company closely monitors the performance of loans that are modified to borrowers experiencing financial difficulty. During the three months ended March 31, 2026, there were no loans to borrowers experiencing financial difficulty (modified in the previous twelve months) that had a payment default during the period. There was one CRE loan, related to a downtown St. Louis hotel that was originated pre-pandemic, to a borrower experiencing financial difficulty with a period-end amortized cost basis of $26.7 million that was modified during 2024 which subsequently defaulted during the three months ended March 31, 2025. This CRE loan was placed on nonaccrual status and ultimately charged off during 2025. In relation to loans modified to borrowers experiencing financial difficulty, the Company defines a payment default as a payment received more than 90 days after its due date.

At March 31, 2026 and December 31, 2025, the Company had $4.1 million and $4.4 million, respectively, of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process. At March 31, 2026 and December 31, 2025, the Company had $3.9 million and $3.6 million, respectively, of Other Real Estate Owned (“OREO”) secured by residential real estate properties.
Credit Quality Indicators – As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to (i) the weighted-average risk rating of commercial and real estate loans, (ii) the level of classified commercial and real estate loans, (iii) net charge-offs, (iv) nonperforming loans (see details above) and (v) the general economic conditions of the Company’s local markets.

The Company utilizes a risk rating matrix to assign a risk rate to each of its commercial and real estate loans. Risk ratings are updated on an ongoing basis and are subject to change by continuous loan monitoring processes including lending management monitoring, executive management and board committee oversight, and independent credit review. A description of the general characteristics of the risk ratings is as follows:
 
•Pass (Excellent) – This category includes loans which are virtually free of credit risk. Borrowers in this category represent the highest credit quality and greatest financial strength.
•Pass (Good) - Loans under this category possess a nominal risk of default. This category includes borrowers with strong financial strength and superior financial ratios and trends. These loans are generally fully secured by cash or equivalents (other than those rated “excellent”).
•Pass (Acceptable – Average) - Loans in this category are considered to possess a normal level of risk. Borrowers in this category have satisfactory financial strength and adequate cash flow coverage to service debt requirements. If secured, the perfected collateral should be of acceptable quality and within established borrowing parameters.
•Pass (Monitor) - Loans in the Watch (Monitor) category exhibit an overall acceptable level of risk, but that risk may be increased by certain conditions, which represent “red flags”. These “red flags” require a higher level of supervision or monitoring than the normal “Pass” rated credit. The borrower may be experiencing these conditions for the first time, or it may be recovering from weakness, which at one time justified a higher rating. These conditions may include: weaknesses in financial trends; marginal cash flow; one-time negative operating results; non-compliance with policy or borrowing agreements; poor diversity in operations; lack of adequate monitoring information or lender supervision; questionable management ability/stability.
•Special Mention - A loan in this category has potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the institution’s credit position at some future date. Special Mention loans are not adversely classified (although they are “criticized”) and do not expose an institution to sufficient risk to warrant adverse classification. Borrowers may be experiencing adverse operating trends or an ill-proportioned balance sheet. Non-financial characteristics of a Special Mention rating may include management problems, pending litigation, a non-existent or ineffective loan agreement or other material structural weakness, and/or other significant deviation from prudent lending practices.
•Substandard - A Substandard loan is inadequately protected by the current sound worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. The loans are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. This does not imply ultimate loss of the principal, but may involve burdensome administrative expenses and the accompanying cost to carry the loan.
•Doubtful - A loan classified Doubtful has all the weaknesses inherent in a substandard loan except that the weaknesses make collection or liquidation in full (on the basis of currently existing facts, conditions, and values) highly questionable and improbable. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. The possibility of loss is extremely high, but because of specific pending events that may strengthen the asset, its classification as loss is deferred. Pending factors include: proposed merger or acquisition; liquidation procedures; capital injection; perfection of liens on additional collateral; and refinancing plans. Loans classified as Doubtful are placed on nonaccrual status.
•Loss - Loans classified Loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the loans has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless loan, even though partial recovery may be affected in the future. Borrowers in the Loss category are often in bankruptcy, have formally suspended debt repayments, or have otherwise ceased normal business operations. Loans should be classified as Loss and charged-off in the period in which they become uncollectible.
The Company monitors credit quality in the consumer portfolio by delinquency status. The delinquency status of loans is updated daily. A description of the delinquency credit quality indicators is as follows:

•Current - Loans in this category are either current in payments or are under 30 days past due. These loans are considered to have a normal level of risk.
•30-89 Days Past Due - Loans in this category are between 30 and 89 days past due and are subject to the Company’s loss mitigation process. These loans are considered to have a moderate level of risk.
•90+ Days Past Due - Loans in this category are 90 days or more past due and are placed on nonaccrual status. These loans have been subject to the Company’s loss mitigation process and foreclosure and/or charge-off proceedings have commenced.

The Company uses a dual risk rating scale that utilizes quantitative models and qualitative factors (“score cards”) to assist in determining the appropriate risk rating for its commercial loans. This dual risk rating methodology incorporates a “probability of default” analysis which utilizes quantified metrics such as loan terms and financial performance, as well as a “loss given default” analysis which utilizes collateral values and economics of the market, among other attributes. Model outputs are reviewed and analyzed to ensure the projected risk levels are commensurate with underwriting and credit leader expectations. The risk rating scale includes Probability of Default levels of 1 – 16 and Loss Given Default levels of A – I. The scale allows for more granular recognition of risk and diversification of grading among traditional Pass grades.

The following is a reconciliation between the expanded risk rating scale and the Company’s traditional risk rating segments utilized within the commercial loan classes presented in the credit quality indicator tables.

•Pass - Includes loans with an expanded risk rating of 1 through 11. Loans with a risk rating of 10 and 11 equate to loans included on management’s “watch list” and is intended to be utilized on a temporary basis for pass grade borrowers where a significant risk-modifying action is anticipated in the near term.
•Special Mention - Includes loans with an expanded risk rating of 12.
•Substandard - Includes loans with an expanded risk rating of 13 and 14.
•Doubtful and loss - Includes loans with an expanded risk rating of 15 and 16.
The following table presents a summary of loans by credit quality indicator, as of March 31, 2026, segregated by class of loans.

Term Loans Amortized Cost Basis by Origination Year
(In thousands)2026 (YTD)20252024202320222021 and PriorLines of Credit (“LOC”) Amortized Cost BasisLOC Converted to Term Loans Amortized Cost BasisTotal
Consumer - credit cards    
Delinquency:
Current$— $— $— $— $— $— $169,571 $— $169,571 
30-89 days past due— — — — — — 2,448 — 2,448 
90+ days past due— — — — — — 591 — 591 
Total consumer - credit cards— — — — — — 172,610 — 172,610 
Current-period consumer - credit cards gross charge-offs— — — — — — 1,677 — 1,677 
Consumer - other
Delinquency:
Current20,020 26,085 12,488 5,958 5,362 2,375 23,213 — 95,501 
30-89 days past due— 156 161 34 170 42 97 — 660 
90+ days past due— 70 29 16 98 13 — — 226 
Total consumer - other20,020 26,311 12,678 6,008 5,630 2,430 23,310 — 96,387 
Current-period consumer - other gross charge-offs— 210 143 56 49 14 54 — 526 
Real estate - C&D
Risk rating:
Pass20,576 139,862 29,110 59,753 32,818 41,271 2,219,290 — 2,542,680 
Special mention— — — — — — 10,162 — 10,162 
Substandard— — 50 44 3,574 46 65,303 — 69,017 
Doubtful and loss— — — — — — — — — 
Total real estate - C&D20,576 139,862 29,160 59,797 36,392 41,317 2,294,755 — 2,621,859 
Current-period real estate - C&D gross charge-offs— — — 525 — 308 — — 833 
Real estate - SF residential
Delinquency:
Current54,605 224,651 174,685 250,267 458,676 786,582 563,403 — 2,512,869 
30-89 days past due214 2,803 2,949 2,806 6,258 18,781 3,587 — 37,398 
90+ days past due— 390 757 1,738 5,904 4,644 2,462 — 15,895 
Total real estate - SF residential54,819 227,844 178,391 254,811 470,838 810,007 569,452 — 2,566,162 
Current-period real estate - SF residential gross charge-offs— 50 26 299 138 — 2 — 515 
Term Loans Amortized Cost Basis by Origination Year
(In thousands)2026 (YTD)20252024202320222021 and PriorLines of Credit (“LOC”) Amortized Cost BasisLOC Converted to Term Loans Amortized Cost BasisTotal
Real estate - other commercial
Risk rating:
Pass$371,669 $1,402,491 $487,630 $380,627 $1,104,694 $1,525,470 $3,114,564 $— $8,387,145 
Special mention— 4,622 12,869 4,061 16,167 10,853 87,788 — 136,360 
Substandard— 3,792 4,470 16,202 31,126 57,651 127,902 — 241,143 
Doubtful and loss— — — — — — — — — 
Total real estate - other commercial371,669 1,410,905 504,969 400,890 1,151,987 1,593,974 3,330,254 — 8,764,648 
Current-period real estate - other commercial gross charge-offs— — 432 1,157 — 3,692 — — 5,281 
Commercial
Risk rating:
Pass112,274 311,756 155,136 131,188 138,774 99,232 1,491,117 — 2,439,477 
Special mention— — 73 73 1,367 870 38,664 — 41,047 
Substandard— 1,842 5,907 3,749 1,950 6,268 21,200 — 40,916 
Doubtful and loss— — — — — — — — — 
Total commercial112,274 313,598 161,116 135,010 142,091 106,370 1,550,981 — 2,521,440 
Current-period commercial - gross charge-offs— 447 288 108 85 247 — — 1,175 
Commercial - agriculture
Risk rating:
Pass27,846 39,531 14,540 11,634 8,255 4,252 225,010 — 331,068 
Special mention— 338 — 80 68 — 295 — 781 
Substandard— 952 16 99 60 97 435 — 1,659 
Doubtful and loss— — — — — — — — — 
Total commercial - agriculture27,846 40,821 14,556 11,813 8,383 4,349 225,740 — 333,508 
Current-period commercial - agriculture gross charge-offs— 491 — — — — — — 491 
Other
Delinquency:
Current9,676 97,710 61,364 23,496 125,720 49,097 488,943 — 856,006 
30-89 days past due— — — 263 — — — — 263 
90+ days past due— — — — — — — — — 
Total other9,676 97,710 61,364 23,759 125,720 49,097 488,943 — 856,269 
Current-period other - gross charge-offs— — — — — — 64 — 64 
Total$616,880 $2,257,051 $962,234 $892,088 $1,941,041 $2,607,544 $8,656,045 $— $17,932,883 
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)202520242023202220212020 and PriorLines of Credit (“LOC”) Amortized Cost BasisLOC Converted to Term Loans Amortized Cost BasisTotal
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:
Current61,242 14,933 7,889 6,942 2,029 864 20,334 — 114,233 
30-89 days past due315 344 97 244 39 — 34 — 1,073 
90+ days past due31 55 34 39 3 — 4 — 166 
Total consumer - other61,588 15,332 8,020 7,225 2,071 864 20,372 — 115,472 
Current-period consumer - other gross charge-offs166 933 387 679 64 36 129 — 2,394 
Real estate - C&D
Risk rating:
Pass143,444 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&D143,444 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:
Current240,137 180,340 264,324 475,155 254,727 578,426 563,920 — 2,557,029 
30-89 days past due2,013 2,087 3,187 8,148 2,080 14,425 2,791 — 34,731 
90+ days past due54 445 2,804 4,983 180 5,024 2,200 — 15,690 
Total real estate - SF residential242,204 182,872 270,315 488,286 256,987 597,875 568,911 — 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:
Pass1,417,580 514,130 400,008 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 
Substandard4,601 3,600 16,313 20,158 21,763 33,061 167,210 — 266,706 
Doubtful and loss— — — — — — — — — 
Total real estate - other commercial1,422,181 522,853 418,324 1,177,219 887,932 836,372 3,025,087 — 8,289,968 
Current-period real estate - other commercial gross charge-offs192 5,940 26 293 102 1,215 23,720 — 31,488 
Term Loans Amortized Cost Basis by Origination Year
(In thousands)202520242023202220212020 and PriorLines of Credit (“LOC”) Amortized Cost BasisLOC Converted to Term Loans Amortized Cost BasisTotal
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 
Substandard3,380 6,054 2,771 1,696 1,598 4,524 10,941 — 30,964 
Doubtful and loss— — — 3 — — — — 3 
Total commercial352,259 171,032 145,379 158,145 71,540 42,251 1,441,733 — 2,382,339 
Current-period commercial - gross charge-offs277 8,849 1,622 5,058 937 9,230 16,229 — 42,202 
Commercial - agriculture
Risk rating:
Pass47,211 16,056 14,185 10,101 3,519 1,793 211,605 — 304,470 
Special mention419 14 — 68 — — 48 — 549 
Substandard— 20 99 24 8 120 1,010 — 1,281 
Doubtful and loss— — — — — — — — — 
Total commercial - agriculture47,630 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:
Current100,774 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 other100,774 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 

Allowance for Credit Losses

Allowance for Credit Losses – The allowance for credit losses is a reserve established through a provision for credit losses charged to expense, which represents management’s best estimate of lifetime expected losses based on reasonable and supportable forecasts, quantitative factors, and other qualitative considerations. The allowance, in the judgment of management, is necessary to reserve for expected loan losses and risks inherent in the loan portfolio. The Company’s allowance for credit loss methodology includes reserve factors calculated to estimate current expected credit losses to amortized cost balances over the remaining contractual life of the portfolio, adjusted for prepayments, in accordance with ASC Topic 326-20, Financial Instruments - Credit Losses. Accordingly, the methodology is comprised of two components: individual assessments on loans with unique risk characteristics and collective assessments for loans that share similar risk characteristics. Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated for collective assessment. The Company uses statistically-based models that leverage assumptions about current and future economic conditions throughout the contractual life of the loan. Expected credit losses are estimated by either lifetime loss rates or expected loss cash flows based on three key parameters: probability-of-default (“PD”), exposure-at-default (“EAD”), and loss-given-default (“LGD”). Future economic conditions are incorporated to the extent that they are reasonable and supportable. Beyond the reasonable and supportable periods, the economic variables revert to a historical equilibrium at a pace dependent on the state of the economy reflected within the economic scenarios. To determine the best estimate of credit losses as of March 31, 2026, the Company utilized a probability-weighted, multiple-scenario approach consisting of Baseline, Upside (S1), and Downside (S3) scenarios published by Moody’s Analytics in March 2026 that was updated to reflect the U.S. economic outlook. The Company also includes qualitative adjustments to the allowance based on factors and considerations that have not otherwise been fully accounted for. These factors may include but are not limited to portfolio trends and considerations, other economic considerations, policy actions, concentration risk, or imprecision risk.
Loans with similar risk characteristics such as loan type, collateral type, and internal risk ratings are aggregated into homogeneous segments for assessment. Reserve factors are based on estimated probability of default and loss given default for each segment. The estimates are determined based on economic forecasts over the reasonable and supportable forecast period based on projected performance of economic variables that have a statistical relationship with the historical loss experience of the segments.

Loans that have unique risk characteristics are evaluated on an individual basis. These evaluations are typically performed on loans with a deteriorated internal risk rating. For a collateral-dependent loan, the Company’s evaluation process includes a valuation by appraisal or other collateral analysis adjusted for selling costs, when appropriate. This valuation is compared to the remaining outstanding principal balance of the loan. If a loss is determined to be probable, the loss is included in the allowance for credit losses as a specific allocation.

Loans for which the repayment is expected to be provided substantially through the operation or sale of collateral and where the borrower is experiencing financial difficulty had an amortized cost of $110.4 million and $112.4 million as of March 31, 2026 and December 31, 2025, respectively, as further detailed in the table below. The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.

(In thousands)Real Estate CollateralOther CollateralTotal
March 31, 2026
Construction and development$43,940 $— $43,940 
Single family residential— — — 
Other commercial real estate64,411 — 64,411 
Commercial— 2,014 2,014 
Total$108,351 $2,014 $110,365 
December 31, 2025
Construction and development$44,114 $— $44,114 
Single family residential— — — 
Other commercial real estate66,266 — 66,266 
Commercial— 1,994 1,994 
Total$110,380 $1,994 $112,374 

The following table details activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2026. 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)CommercialReal
Estate		Credit
Card		Other
Consumer
and Other		Total
Allowance for credit losses:
Three Months Ended March 31, 2026
Beginning balance, January 1, 2026$27,998 $183,677 $5,991 $6,711 $224,377 
Provision for credit loss expense3,240 10,669 924 (211)14,622 
Charge-offs(1,666)(6,629)(1,677)(590)(10,562)
Recoveries253 449 468 301 1,471 
Net (charge-offs) recoveries(1,413)(6,180)(1,209)(289)(9,091)
Ending balance, March 31, 2026$29,825 $188,166 $5,706 $6,211 $229,908 
Activity in the allowance for credit losses for the three months ended March 31, 2025 was as follows:

(In thousands)CommercialReal
Estate		Credit
Card		Other
Consumer
and Other		Total
Allowance for credit losses:
Three Months Ended March 31, 2025
Beginning balance, January 1, 2025$41,587 $181,962 $6,007 $5,463 $235,019 
Provision for credit loss expense1,572 22,443 1,359 1,423 26,797 
Charge-offs(4,243)(4,425)(1,460)(1,133)(11,261)
Recoveries997 99 211 306 1,613 
Net (charge-offs) recoveries(3,246)(4,326)(1,249)(827)(9,648)
Ending balance, March 31, 2025$39,913 $200,079 $6,117 $6,059 $252,168 

As of March 31, 2026, the Company’s allowance for credit losses was considered sufficient based upon expected losses that were supported by scenario-weighted economic forecasts. The provision expense for the three months ended March 31, 2026 reflected the impact of loan growth and updated economic assumptions during the period, while the three months ended March 31, 2025 also included an incremental provision expense of $15.6 million related to two specific credit relationships which migrated to nonperforming during the period.

Reserve for Unfunded Commitments
 
In addition to the allowance for credit losses, the Company has established a reserve for unfunded commitments, classified in other liabilities. This reserve is maintained at a level management believes to be sufficient to absorb losses arising from unfunded loan commitments. The reserve for unfunded commitments was $25.6 million for both periods ended March 31, 2026 and December 31, 2025. The adequacy of the reserve for unfunded commitments is determined quarterly based on methodology similar to the methodology for determining the allowance for credit losses. No adjustment was made to the reserve for unfunded commitments during the three month periods ended March 31, 2026 or 2025, as it was considered sufficient to cover any loss expectations.

Provision for Credit Losses

Provision for credit losses is determined by the Company as the amount to be added to the allowance for credit loss accounts for various types of financial instruments including loans, securities and off-balance-sheet credit exposure after net charge-offs have been deducted to bring the allowance to a level which, in management’s best estimate, is necessary to absorb expected credit losses over the lives of the respective financial instruments.

The components of the provision for credit losses for the three month periods ended March 31, 2026 and 2025 were as follows:

Three Months Ended
March 31,
(In thousands)20262025
Provision for credit losses related to:  
Loans$14,622 $26,797 
Unfunded commitments— — 
Securities - HTM— — 
Securities - AFS— — 
Total$14,622 $26,797