| LOANS, ALLOWANCE FOR LOAN LOSSES, AND CREDIT QUALITY |
NOTE 4 – LOANS, ALLOWANCE FOR CREDIT LOSSES, AND CREDIT QUALITY The following table presents total loans by portfolio segment and class of loan as of March 31, 2025 and December 31, 2024: | | | | | | | | | 2025 | | 2024 | Commercial/industrial | | $ | 508,499 | | $ | 501,042 | Commercial real estate - owner occupied | | | 974,085 | | | 969,413 | Commercial real estate - non-owner occupied | | | 460,167 | | | 459,516 | Multi-family | | | 355,324 | | | 326,573 | Construction and development | | | 278,919 | | | 278,639 | Residential 1‑4 family | | | 903,008 | | | 912,985 | Consumer | | | 54,547 | | | 55,164 | Other | | | 15,043 | | | 15,593 | Subtotals | | | 3,549,592 | | | 3,518,925 | ACL - Loans | | | (43,749) | | | (44,151) | Loans, net of ACL - Loans | | | 3,505,843 | | | 3,474,774 | Deferred loan fees, net | | | (1,522) | | | (1,757) | Loans, net | | $ | 3,504,321 | | $ | 3,473,017 |
The ACL - Loans is based on the Company’s evaluation of historical default and loss experience, current and projected economic conditions, asset quality trends, known and inherent risks in the portfolio, adverse situations that may affect the borrowers’ ability to repay a loan, the estimated value of any underlying collateral, composition of the loan portfolio and other relevant factors. More information regarding the Company’s methodology related to the ACL-Loans can be found in the Company’s Annual Report. The Company utilized the high-end range of the Federal Reserve Bank Open Market Committee forecast for national unemployment and the low-end range for national GDP growth at March 31, 2025 and December 31, 2024. As of March 31, 2025, the Company anticipates the national unemployment rate to rise during the forecast period and the national GDP growth rate to decline. The Company utilized long-term averages for the remaining loss drivers. A roll forward of the ACL-Loans is summarized as follows: | | | | | | | | | | | Three Months Ended | | Year Ended | | | March 31, 2025 | | March 31, 2024 | | December 31, 2024 | | Beginning Balance | $ | 44,151 | | $ | 43,609 | | $ | 43,609 | | Provision for credit losses | | 400 | | | 200 | | | 100 | | Charge-offs | | (836) | | | (52) | | | (566) | | Recoveries | | 34 | | | 621 | | | 1,008 | | Net (charge-offs) recoveries | | (802) | | | 569 | | | 442 | | Ending Balance | $ | 43,749 | | $ | 44,378 | | $ | 44,151 | |
A summary of the activity in the ACL - Loans by loan type for the three months ended March 31, 2025 is summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial | | Commercial | | | | | | | | | | | | | | | | | | | | | | | | Real Estate - | | Real Estate - | | | | | Construction | | | | | | | | | | | | | | | Commercial / | | Owner | | Non - Owner | | Multi- | | and | | Residential | | | | | | | | | | | | Industrial | | Occupied | | Occupied | | Family | | Development | | 1-4 Family | | Consumer | | Other | | Total | ACL - Loans - January 1, 2025 | | $ | 5,394 | | $ | 11,033 | | $ | 4,740 | | $ | 3,739 | | $ | 5,223 | | $ | 12,801 | | $ | 1,084 | | $ | 137 | | $ | 44,151 | Charge-offs | | | — | | | (802) | | | — | | | — | | | — | | | (1) | | | (21) | | | (12) | | | (836) | Recoveries | | | — | | | — | | | — | | | — | | | — | | | 30 | | | — | | | 4 | | | 34 | Provision | | | (155) | | | 190 | | | (9) | | | 435 | | | 96 | | | (172) | | | 10 | | | 5 | | | 400 | ACL - Loans - March 31, 2025 | | $ | 5,239 | | $ | 10,421 | | $ | 4,731 | | $ | 4,174 | | $ | 5,319 | | $ | 12,658 | | $ | 1,073 | | $ | 134 | | $ | 43,749 | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
A summary of the activity in the ACL – Loans by loan type for the three months ended March 31, 2024 is summarized as follows: | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial | | Commercial | | | | | | | | | | | | | | | | | | | | | | | | Real Estate - | | Real Estate - | | | | | Construction | | | | | | | | | | | | | | | Commercial / | | Owner | | Non - Owner | | Multi- | | and | | Residential | | | | | | | | | | | | Industrial | | Occupied | | Occupied | | Family | | Development | | 1-4 Family | | Consumer | | Other | | Total | ACL - Loans - January 1, 2024 | | $ | 5,965 | | $ | 12,285 | | $ | 5,700 | | $ | 4,754 | | $ | 3,597 | | $ | 10,620 | | $ | 615 | | $ | 73 | | $ | 43,609 | Charge-offs | | | (17) | | | (1) | | | — | | | — | | | — | | | (1) | | | (4) | | | (29) | | | (52) | Recoveries | | | 2 | | | 611 | | | — | | | — | | | — | | | 3 | | | — | | | 5 | | | 621 | Provision | | | (139) | | | 547 | | | 381 | | | (153) | | | (359) | | | (122) | | | (7) | | | 52 | | | 200 | ACL - Loans - March 31, 2024 | | $ | 5,811 | | $ | 13,442 | | $ | 6,081 | | $ | 4,601 | | $ | 3,238 | | $ | 10,500 | | $ | 604 | | $ | 101 | | $ | 44,378 | | | | | | | | | | | | | | | | | | | | | | | | | | | | |
In addition to the ACL-Loans, the Company has established an allowance for credit losses on unfunded commitments (“ACL-Unfunded Commitments”), classified in other liabilities on the consolidated balance sheets. This allowance is maintained to absorb losses arising from unfunded loan commitments, and is determined quarterly based on methodology similar to the methodology for determining the ACL-Loans. The ACL - Unfunded Commitments was $2.9 million at March 31, 2025 and December 31, 2024, respectively. See Note 10 for further information on commitments. The provision for credit losses is determined by the Company as the amount to be added to the ACL accounts for various types of financial instruments including loans, investment securities, and off-balance sheet credit exposures after net charge-offs have been deducted to bring the ACL to a level that, in management’s judgment, is necessary to absorb expected credit losses over the lives of the respective financial instruments. The following table presents the components of the provision for credit losses. | | | | | | | | | | | | | | Three Months Ended | | | | | | | | March 31, 2025 | | March 31, 2024 | | December 31, 2024 | | | Provision for credit losses on: | | | | | | | | | | | | Loans | | $ | 400 | | $ | 200 | | $ | 100 | | | Unfunded Commitments | | | — | | | — | | | (900) | | | Total provision for credit losses | | $ | 400 | | $ | 200 | | $ | (800) | | |
The Company’s past due and non-accrual loans as of March 31, 2025 is summarized as follows: | | | | | | | | | | | | | | | | | | | | | 90 Days | | | | | | | | Non-Accrual | | | 30-89 Days | | or more | | | | | | | | with no | | | Past Due | | Past Due | | Non- | | | | | related | | | Accruing | | and Accruing | | Accrual | | Total | | allowance | Commercial/industrial | | $ | 47 | | $ | 48 | | $ | 789 | | $ | 884 | | $ | — | Commercial real estate - owner occupied | | | 2,092 | | | — | | | 4,090 | | | 6,182 | | | 1,527 | Commercial real estate - non-owner occupied | | | 9 | | | — | | | 493 | | | 502 | | | 493 | Multi-family | | | — | | | — | | | — | | | — | | | — | Construction and development | | | 278 | | | — | | | — | | | 278 | | | — | Residential 1‑4 family | | | 3,513 | | | 346 | | | 988 | | | 4,847 | | | 988 | Consumer | | | 111 | | | 24 | | | 36 | | | 171 | | | 36 | Other | | | — | | | — | | | — | | | — | | | — | | | $ | 6,050 | | $ | 418 | | $ | 6,396 | | $ | 12,864 | | $ | 3,044 |
The Company’s past due and non-accrual loans as of December 31, 2024 is summarized as follows: | | | | | | | | | | | | | | | | | | | | | 90 Days | | | | | | | | Non-Accrual | | | 30-89 Days | | or more | | | | | | | | with no | | | Past Due | | Past Due | | Non- | | | | | related | | | Accruing | | and Accruing | | Accrual | | Total | | allowance | Commercial/industrial | | $ | 50 | | $ | 328 | | $ | 794 | | $ | 1,172 | | $ | 1 | Commercial real estate - owner occupied | | | 446 | | | — | | | 4,999 | | | 5,445 | | | 800 | Commercial real estate - non-owner occupied | | | — | | | — | | | 493 | | | 493 | | | 493 | Multi-family | | | — | | | — | | | — | | | — | | | — | Construction and development | | | 90 | | | — | | | — | | | 90 | | | — | Residential 1‑4 family | | | 1,317 | | | 1,294 | | | 511 | | | 3,122 | | | 511 | Consumer | | | 108 | | | 48 | | | 29 | | | 185 | | | 29 | Other | | | — | | | — | | | — | | | — | | | — | | | $ | 2,011 | | $ | 1,670 | | $ | 6,826 | | $ | 10,507 | | $ | 1,834 |
Interest recognized on non-accrual loans is considered immaterial to the consolidated financial statements for the three months ended March 31, 2025 and 2024. A loan is considered to be collateral dependent when, based upon management’s assessment, the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. For collateral dependent loans, expected credit losses are based on amortized cost of the loan less the estimated fair value of the collateral at the balance sheet date, with consideration for estimated selling costs if satisfaction of the loan depends on the sale of the collateral. The following tables present collateral dependent loans by portfolio segment and collateral type, including those loans with and without a related allowance allocation. A significant portion of the loan balances in these tables and essentially all of the allowance allocations relate to PCD loans which were acquired from Hometown. Real estate collateral primarily consists of operating facilities of the underlying borrowers. Other business assets collateral primarily consists of equipment, receivables and inventory of the underlying borrowers. | | | | | | | | | | | | | | | | | | | | | Collateral Type | | | | | | | | | | As of March 31, 2025 | | | | | Other | | | | | Without an | | With an | | Allowance | | | Real Estate | | Business Assets | | Total | | Allowance | | Allowance | | Allocation | Commercial/industrial | | $ | — | | $ | 789 | | $ | 789 | | $ | — | | $ | 789 | | $ | 789 | Commercial real estate - owner occupied | | | 6,865 | | | — | | | 6,865 | | | 4,302 | | | 2,563 | | | 959 | Commercial real estate - non-owner occupied | | | — | | | — | | | — | | | — | | | — | | | — | Multi-family | | | — | | | — | | | — | | | — | | | — | | | — | Construction and development | | | — | | | — | | | — | | | — | | | — | | | — | Residential 1‑4 family | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | Other | | | — | | | — | | | — | | | — | | | — | | | — | Total Loans | | $ | 6,865 | | $ | 789 | | $ | 7,654 | | $ | 4,302 | | $ | 3,352 | | $ | 1,748 |
| | | | | | | | | | | | | | | | | | | | | Collateral Type | | | | | | | | | | As of December 31, 2024 | | | | | Other | | | | | Without an | | With an | | Allowance | | | Real Estate | | Business Assets | | Total | | Allowance | | Allowance | | Allocation | Commercial/industrial | | $ | — | | $ | 793 | | $ | 793 | | $ | — | | $ | 793 | | $ | 793 | Commercial real estate - owner occupied | | | 7,795 | | | — | | | 7,795 | | | 800 | | | 6,995 | | | 1,601 | Commercial real estate - non-owner occupied | | | — | | | — | | | — | | | — | | | — | | | — | Multi-family | | | — | | | — | | | — | | | — | | | — | | | — | Construction and development | | | — | | | — | | | — | | | — | | | — | | | — | Residential 1‑4 family | | | — | | | — | | | — | | | — | | | — | | | — | Consumer | | | — | | | — | | | — | | | — | | | — | | | — | Other | | | — | | | — | | | — | | | — | | | — | | | — | Total Loans | | $ | 7,795 | | $ | 793 | | $ | 8,588 | | $ | 800 | | $ | 7,788 | | $ | 2,394 |
The Company utilizes a numerical risk rating system for commercial relationships. All other types of relationships (ex: residential, consumer, other) are assigned a “Pass” rating, unless they have fallen 90 days past due or more, at which time they are assessed for a rating of 5, 6 or 7. The Company uses split ratings for government guaranties on loans. The portion of a loan that is supported by a government guaranty is included with other Pass credits. The determination of a commercial loan risk rating begins with completion of a matrix, which assigns scores based on the strength of the borrower’s debt service coverage, collateral coverage, balance sheet leverage, industry outlook, and customer concentration. A weighted average is taken of these individual scores to arrive at the overall rating. This rating is subject to adjustment by the loan officer based on facts and circumstances pertaining to the borrower. Risk ratings are subject to independent review. Commercial borrowers with ratings between 1 and 5 are considered Pass credits, with 1 being most acceptable and 5 being just above the minimum level of acceptance. Commercial borrowers rated 6 have potential weaknesses which may jeopardize repayment ability. Borrowers rated 7 have a well-defined weakness or weaknesses such as the inability to demonstrate significant cash flow for debt service based on analysis of the company’s financial information. These loans remain on accrual status provided full collection of principal and interest is reasonably expected. Otherwise they are deemed impaired and placed on nonaccrual status. Borrowers rated 8 are the same as 7 rated credits with one exception: collection or liquidation in full is not probable. The following tables present total loans by risk ratings and year of origination. Loans acquired from other previously acquired institutions have been included in the table based upon the actual origination date. | | | | | | | | | | | | | | | | | | | | Amortized Cost Basis by Origination Year | | | | | | | As of March 31, 2025 | | | | | | | | | | | | | | | | Revolving | | | | | 2025 | | 2024 | | 2023 | | 2022 | | 2021 | | Prior | | Revolving | | to Term | | Total | Commercial/industrial | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 12,639 | $ | 67,984 | $ | 49,959 | $ | 64,879 | $ | 44,996 | $ | 60,471 | $ | 78,826 | $ | - | $ | 379,754 | Grade 5 | | 15,037 | | 15,008 | | 3,431 | | 43,859 | | 4,343 | | 2,198 | | 27,722 | | - | | 111,598 | Grade 6 | | - | | 231 | | 416 | | 574 | | 989 | | 23 | | 2,109 | | - | | 4,342 | Grade 7 | | 58 | | 293 | | 804 | | 285 | | 5,616 | | 1,952 | | 3,797 | | - | | 12,805 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 27,734 | $ | 83,516 | $ | 54,610 | $ | 109,597 | $ | 55,944 | $ | 64,644 | $ | 112,454 | $ | - | $ | 508,499 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Commercial real estate - owner occupied | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 22,890 | $ | 99,025 | $ | 62,270 | $ | 96,300 | $ | 156,215 | $ | 251,634 | $ | 48,385 | $ | - | $ | 736,719 | Grade 5 | | 829 | | 50,312 | | 20,833 | | 17,262 | | 21,270 | | 50,318 | | 11,947 | | - | | 172,771 | Grade 6 | | - | | - | | 740 | | 3,483 | | 804 | | 8,041 | | 750 | | - | | 13,818 | Grade 7 | | - | | 1,221 | | 1,456 | | 8,432 | | 4,208 | | 30,648 | | 4,812 | | - | | 50,777 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 23,719 | $ | 150,558 | $ | 85,299 | $ | 125,477 | $ | 182,497 | $ | 340,641 | $ | 65,894 | $ | - | $ | 974,085 | Current-period gross charge-offs | $ | - | $ | 802 | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 802 | Commercial real estate - non-owner occupied | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 8,767 | $ | 28,504 | $ | 55,707 | $ | 60,000 | $ | 106,113 | $ | 130,931 | $ | 9,157 | $ | - | $ | 399,179 | Grade 5 | | 1,940 | | 2,173 | | 4,484 | | 4,810 | | 19,173 | | 19,120 | | 25 | | - | | 51,725 | Grade 6 | | - | | - | | - | | 1,476 | | - | | - | | 1,065 | | - | | 2,541 | Grade 7 | | - | | - | | - | | - | | 5,867 | | 855 | | - | | - | | 6,722 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 10,707 | $ | 30,677 | $ | 60,191 | $ | 66,286 | $ | 131,153 | $ | 150,906 | $ | 10,247 | $ | - | $ | 460,167 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Multi-family | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | - | $ | 1,953 | $ | 42,922 | $ | 33,189 | $ | 101,252 | $ | 152,480 | $ | 2,703 | $ | - | $ | 334,499 | Grade 5 | | - | | 13,763 | | 1,009 | | 780 | | - | | 114 | | - | | - | | 15,666 | Grade 6 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 7 | | - | | 442 | | - | | - | | 2,483 | | 2,234 | | - | | - | | 5,159 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | - | $ | 16,158 | $ | 43,931 | $ | 33,969 | $ | 103,735 | $ | 154,828 | $ | 2,703 | $ | - | $ | 355,324 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Construction and development | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 8,207 | $ | 72,315 | $ | 37,752 | $ | 59,803 | $ | 11,273 | $ | 8,174 | $ | 1,602 | $ | - | $ | 199,126 | Grade 5 | | 822 | | 35,741 | | 37,595 | | 1,980 | | 962 | | 762 | | 723 | | - | | 78,585 | Grade 6 | | - | | 300 | | - | | - | | - | | - | | - | | - | | 300 | Grade 7 | | - | | - | | - | | - | | - | | 908 | | - | | - | | 908 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 9,029 | $ | 108,356 | $ | 75,347 | $ | 61,783 | $ | 12,235 | $ | 9,844 | $ | 2,325 | $ | - | $ | 278,919 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Residential 1‑4 family | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 13,647 | $ | 96,388 | $ | 91,948 | $ | 171,187 | $ | 171,970 | $ | 231,187 | $ | 98,342 | $ | - | $ | 874,669 | Grade 5 | | 1,572 | | 2,451 | | 2,809 | | 6,274 | | 1,953 | | 3,906 | | 1,710 | | - | | 20,675 | Grade 6 | | - | | - | | 182 | | 336 | | - | | 192 | | - | | - | | 710 | Grade 7 | | - | | - | | - | | 533 | | 1,252 | | 3,987 | | 1,182 | | - | | 6,954 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 15,219 | $ | 98,839 | $ | 94,939 | $ | 178,330 | $ | 175,175 | $ | 239,272 | $ | 101,234 | $ | - | $ | 903,008 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 1 | $ | - | $ | - | $ | 1 | Consumer | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 9,402 | $ | 18,818 | $ | 11,536 | $ | 7,007 | $ | 3,273 | $ | 3,729 | $ | 713 | $ | - | $ | 54,478 | Grade 5 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 6 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 7 | | - | | 21 | | 2 | | 3 | | 10 | | 33 | | - | | - | | 69 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 9,402 | $ | 18,839 | $ | 11,538 | $ | 7,010 | $ | 3,283 | $ | 3,762 | $ | 713 | $ | - | $ | 54,547 | Current-period gross charge-offs | $ | - | $ | - | $ | 9 | $ | 12 | $ | - | $ | - | $ | - | $ | - | $ | 21 | Other | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 160 | $ | 1,725 | $ | 100 | $ | 548 | $ | 456 | $ | 9,175 | $ | 2,608 | $ | - | $ | 14,772 | Grade 5 | | - | | - | | 46 | | 29 | | - | | - | | 196 | | - | | 271 | Grade 6 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 7 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 160 | $ | 1,725 | $ | 146 | $ | 577 | $ | 456 | $ | 9,175 | $ | 2,804 | $ | - | $ | 15,043 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 12 | $ | - | $ | 12 | | | | | | | | | | | | | | | | | | | | Total Loans | $ | 95,970 | $ | 508,668 | $ | 426,001 | $ | 583,029 | $ | 664,478 | $ | 973,072 | $ | 298,374 | $ | - | $ | 3,549,592 | Total current-period gross charge-offs | $ | - | $ | 802 | $ | 9 | $ | 12 | $ | - | $ | 1 | $ | 12 | $ | - | $ | 836 |
| | | | | | | | | | | | | | | | | | | | Amortized Cost Basis by Origination Year | | | | | | | As of December 31, 2024 | | | | | | | | | | | | | | | | Revolving | | | | | 2024 | | 2023 | | 2022 | | 2021 | | 2020 | | Prior | | Revolving | | to Term | | Total | Commercial/industrial | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 82,243 | $ | 55,703 | $ | 66,599 | $ | 49,142 | $ | 44,118 | $ | 21,121 | $ | 77,853 | $ | - | $ | 396,779 | Grade 5 | | 16,551 | | 3,076 | | 45,395 | | 4,508 | | 2,266 | | 318 | | 16,574 | | - | | 88,688 | Grade 6 | | 274 | | 403 | | 608 | | 1,027 | | 7 | | - | | 541 | | - | | 2,860 | Grade 7 | | 362 | | 854 | | 316 | | 5,766 | | 416 | | 752 | | 4,249 | | - | | 12,715 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 99,430 | $ | 60,036 | $ | 112,918 | $ | 60,443 | $ | 46,807 | $ | 22,191 | $ | 99,217 | $ | - | $ | 501,042 | Current-period gross charge-offs | $ | - | $ | - | $ | 9 | $ | 15 | $ | - | $ | 2 | $ | - | $ | - | $ | 26 | Commercial real estate - owner occupied | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 92,953 | $ | 63,421 | $ | 105,388 | $ | 161,227 | $ | 93,903 | $ | 177,068 | $ | 41,293 | $ | - | $ | 735,253 | Grade 5 | | 48,644 | | 21,142 | | 19,031 | | 20,585 | | 8,741 | | 42,643 | | 8,902 | | - | | 169,688 | Grade 6 | | - | | - | | 3,095 | | 1,674 | | 5,658 | | 1,931 | | 3,468 | | - | | 15,826 | Grade 7 | | 149 | | 840 | | 8,633 | | 3,444 | | 3,594 | | 28,997 | | 2,989 | | - | | 48,646 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 141,746 | $ | 85,403 | $ | 136,147 | $ | 186,930 | $ | 111,896 | $ | 250,639 | $ | 56,652 | $ | - | $ | 969,413 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | 293 | $ | - | $ | 1 | $ | - | $ | - | $ | 294 | Commercial real estate - non-owner occupied | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 27,703 | $ | 54,919 | $ | 61,803 | $ | 123,875 | $ | 47,293 | $ | 96,008 | $ | 9,883 | $ | - | $ | 421,484 | Grade 5 | | 1,723 | | 1,935 | | 2,827 | | 2,627 | | 3,502 | | 13,008 | | - | | - | | 25,622 | Grade 6 | | - | | - | | 1,489 | | - | | - | | 2,590 | | 1,565 | | - | | 5,644 | Grade 7 | | - | | - | | - | | 5,906 | | 351 | | 509 | | - | | - | | 6,766 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 29,426 | $ | 56,854 | $ | 66,119 | $ | 132,408 | $ | 51,146 | $ | 112,115 | $ | 11,448 | $ | - | $ | 459,516 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Commercial real estate - multi-family | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 1,724 | $ | 26,209 | $ | 32,891 | $ | 100,950 | $ | 71,584 | $ | 82,936 | $ | 3,385 | $ | - | $ | 319,679 | Grade 5 | | 779 | | 1,014 | | 1,307 | | 994 | | - | | 118 | | - | | - | | 4,212 | Grade 6 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 7 | | 442 | | - | | - | | - | | - | | 2,240 | | - | | - | | 2,682 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 2,945 | $ | 27,223 | $ | 34,198 | $ | 101,944 | $ | 71,584 | $ | 85,294 | $ | 3,385 | $ | - | $ | 326,573 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Construction and development | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 66,756 | $ | 45,018 | $ | 60,063 | $ | 11,608 | $ | 3,666 | $ | 4,921 | $ | 1,566 | $ | - | $ | 193,598 | Grade 5 | | 23,486 | | 52,351 | | 2,529 | | 1,033 | | 603 | | 199 | | 522 | | - | | 80,723 | Grade 6 | | 233 | | - | | - | | - | | - | | - | | - | | - | | 233 | Grade 7 | | - | | 676 | | - | | 2,489 | | 160 | | 760 | | - | | - | | 4,085 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 90,475 | $ | 98,045 | $ | 62,592 | $ | 15,130 | $ | 4,429 | $ | 5,880 | $ | 2,088 | $ | - | $ | 278,639 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | Residential 1‑4 family | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 98,107 | $ | 96,939 | $ | 179,313 | $ | 176,752 | $ | 139,663 | $ | 100,537 | $ | 93,957 | $ | - | $ | 885,268 | Grade 5 | | 2,785 | | 2,971 | | 6,266 | | 2,221 | | 3,017 | | 1,621 | | 1,064 | | - | | 19,945 | Grade 6 | | - | | 151 | | 350 | | - | | - | | 197 | | - | | - | | 698 | Grade 7 | | - | | - | | 537 | | 1,282 | | 854 | | 2,900 | | 1,501 | | - | | 7,074 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 100,892 | $ | 100,061 | $ | 186,466 | $ | 180,255 | $ | 143,534 | $ | 105,255 | $ | 96,522 | $ | - | $ | 912,985 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 44 | $ | - | $ | - | $ | 44 | Consumer | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 25,766 | $ | 12,581 | $ | 8,063 | $ | 3,825 | $ | 2,774 | $ | 1,624 | $ | 466 | $ | - | $ | 55,099 | Grade 5 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 6 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 7 | | 10 | | 11 | | 15 | | 9 | | - | | 20 | | - | | - | | 65 | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 25,776 | $ | 12,592 | $ | 8,078 | $ | 3,834 | $ | 2,774 | $ | 1,644 | $ | 466 | $ | - | $ | 55,164 | Current-period gross charge-offs | $ | 88 | $ | 15 | $ | 4 | $ | - | $ | 3 | $ | - | $ | - | $ | - | $ | 110 | Other | | | | | | | | | | | | | | | | | | | Grades 1-4 | $ | 1,901 | $ | 119 | $ | 573 | $ | 483 | $ | 605 | $ | 9,070 | $ | 2,557 | $ | - | $ | 15,308 | Grade 5 | | - | | 50 | | 31 | | - | | - | | - | | 204 | | - | | 285 | Grade 6 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 7 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Grade 8 | | - | | - | | - | | - | | - | | - | | - | | - | | - | Total | $ | 1,901 | $ | 169 | $ | 604 | $ | 483 | $ | 605 | $ | 9,070 | $ | 2,761 | $ | - | $ | 15,593 | Current-period gross charge-offs | $ | - | $ | - | $ | - | $ | - | $ | - | $ | - | $ | 92 | $ | - | $ | 92 | | | | | | | | | | | | | | | | | | | | Total Loans | $ | 492,591 | $ | 440,383 | $ | 607,122 | $ | 681,427 | $ | 432,775 | $ | 592,088 | $ | 272,539 | $ | - | $ | 3,518,925 | Total current-period gross charge-offs | $ | 88 | $ | 15 | $ | 13 | $ | 308 | $ | 3 | $ | 47 | $ | 92 | $ | - | $ | 566 |
Loans that were both experiencing financial difficulty and were modified during the three months ended March 31, 2025 and 2024, were insignificant to these consolidated financial statements.
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