LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES

6 Months Ended

Jun. 30, 2025

Loans and Allowance for Loan Losses [Abstract]

LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES

4. LOANS AND ALLOWANCE FOR LOAN AND LEASE LOSSES

Commercial Real Estate Loan Sale

On June 26, 2025, the Company completed the sale of performing CRE loans acquired in the Sandy Spring acquisition with an unpaid principal balance of $2.0 billion, which the Company had classified as held for sale as of the April 1, 2025 acquisition date and marked to fair value at $1.8 billion. The CRE loan sale transaction generated a $15.7 million pre-tax gain, net of expenses, during the second quarter of 2025. Under the terms of the loan purchase agreement, the Company sold the loans without recourse with servicing retained. Servicing rights held by the Company are initially measured at fair value and recorded as an asset or liability and subsequently measured using the amortization method. At the time of the sale, the Company did not recognize any servicing asset or liability as the contractual servicing fees were equal to market-based adequate compensation for similar servicing.

Loans Held for Investments

The following tables exclude LHFS and include loan balances as of June 30, 2025 associated with the Sandy Spring acquisition that closed on April 1, 2025.

The Company’s LHFI are stated at their face amount, net of deferred fees and costs and consisted of the following as of the periods ended (dollars in thousands):


	June 30, 2025		December 31, 2024
Construction and Land Development	$	2,444,151	$	1,731,108
CRE – Owner Occupied		3,940,371		2,370,119
CRE – Non-Owner Occupied		6,912,692		4,935,590
Multifamily Real Estate		2,083,559		1,240,209
Commercial & Industrial		5,141,691		3,864,695
Residential 1-4 Family – Commercial		1,131,288		719,425
Residential 1-4 Family – Consumer		2,746,046		1,293,817
Residential 1-4 Family – Revolving		1,154,085		756,944
Auto		245,554		316,368
Consumer		119,526		104,882
Other Commercial		1,409,370		1,137,464
Total LHFI, net of deferred fees and costs⁽¹⁾		27,328,333		18,470,621
Allowance for loan and lease losses		(315,574)		(178,644)
Total LHFI, net	$	27,012,759	$	18,291,977

⁽¹⁾Total loans included unamortized premiums and discounts, and unamortized deferred fees and costs totaling $881.8 million and $220.6 million as of June 30, 2025 and December 31, 2024, respectively.

Refer to Note 1 “Summary of Significant Accounting Policies” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” in the Company’s 2024 Form 10-K and Note 2 “Acquisitions” within Item 1 of this Quarterly Report for further information about the Sandy Spring acquisition.

Accrued interest receivable on LHFI totaled $107.2 million and $73.7 million at June 30, 2025 and December 31, 2024, respectively. Accrued interest receivable write-offs were not material to the Company’s consolidated financial statements for the three and six months ended June 30, 2025 and 2024.

The following table shows the aging of the Company’s LHFI portfolio by class at June 30, 2025 (dollars in thousands):

Greater than

30-59 Days

60-89 Days

90 Days and

Current

Past Due

still Accruing

Nonaccrual

Total Loans

Construction and Land Development

2,369,804

447

189

22,807

50,904

2,444,151

CRE – Owner Occupied

3,927,968

3,933

537

1,817

6,116

3,940,371

CRE – Non-Owner Occupied

6,880,073

1,295

147

2,764

28,413

6,912,692

Multifamily Real Estate

2,080,833

410

727

—

1,589

2,083,559

Commercial & Industrial

5,087,253

4,606

2,278

2,657

44,897

5,141,691

Residential 1-4 Family – Commercial

1,119,289

3,186

552

5,561

2,700

1,131,288

Residential 1-4 Family – Consumer

2,717,186

2,125

4,559

1,487

20,689

2,746,046

Residential 1-4 Family – Revolving

1,139,915

4,270

2,094

2,460

5,346

1,154,085

Auto

240,425

3,735

718

150

526

245,554

Consumer

118,766

274

387

119,526

Other Commercial

1,406,466

1,440

1,415

1,409,370

Total LHFI, net of deferred fees and costs

27,087,978

24,300

13,628

39,812

162,615

27,328,333

% of total loans

99.11

0.09

0.05

0.15

0.60

100.00

The following table shows the aging of the Company’s LHFI portfolio by class at December 31, 2024 (dollars in thousands):


										Greater than
				30-59 Days			60-89 Days			90 Days and
	Current			Past Due			Past Due			still Accruing			Nonaccrual			Total Loans
Construction and Land Development	$	1,729,637		$	38		$	—		$	120		$	1,313		$	1,731,108
CRE – Owner Occupied		2,362,458			2,080			1,074			1,592			2,915			2,370,119
CRE – Non-Owner Occupied		4,926,168			1,381			—			6,874			1,167			4,935,590
Multifamily Real Estate		1,238,711			1,366			—			—			132			1,240,209
Commercial & Industrial		3,820,564			9,405			69			955			33,702			3,864,695
Residential 1-4 Family – Commercial		715,604			697			665			949			1,510			719,425
Residential 1-4 Family – Consumer		1,266,467			5,928			7,390			1,307			12,725			1,293,817
Residential 1-4 Family – Revolving		747,474			1,824			2,110			1,710			3,826			756,944
Auto		311,354			3,615			456			284			659			316,368
Consumer		103,528			804			486			44			20			104,882
Other Commercial		1,132,960			2,167			2,029			308			—			1,137,464
Total LHFI, net of deferred fees and costs	$	18,354,925		$	29,305		$	14,279		$	14,143		$	57,969		$	18,470,621
% of total loans		99.37	%		0.16	%		0.08	%		0.08	%		0.31	%		100.00	%

The following table shows the Company’s amortized cost basis of loans on nonaccrual status with no related ALLL, a component of the ACL as of the periods ended (dollars in thousands):


	June 30,		December 31,
	2025		2024
Construction and Land Development	$	13,660	$	—
Commercial Real Estate - Owner Occupied		2,526		—
Commercial Real Estate - Non-Owner Occupied		26,371		2,510
Multifamily Real Estate		1,472		—
Commercial & Industrial		1,847		—
Residential 1-4 Family - Commercial		627		—
Other Commercial		1,317		—
Total LHFI, net of deferred fees and costs	$	47,820	$	2,510

The increase in the amortized cost basis of loans on nonaccrual status with no related allowance for ALLL was primarily due to PCD loans acquired from Sandy Spring, which were nonperforming at the time of acquisition and were recorded at their amortized cost basis in accordance with ASC 326, Financial Instruments – Credit Losses. There was no interest income recognized on nonaccrual loans during the three and six months ended June 30, 2025 and 2024.

Troubled Loan Modifications (“TLMs”)

The following tables present the amortized cost basis of loan modifications to borrowers experiencing financial difficulty for the three and six months ended June 30, (dollars in thousands):

Three Months Ended

Six Months Ended

2025

Amortized Cost

% of Total Class of Financing Receivable

Amortized Cost

% of Total Class of Financing Receivable

Other-Than-Insignificant Payment Delay

Commercial and Industrial

7,584

0.15

7,584

0.15

CRE – Non-Owner Occupied

3,780

0.05

3,780

0.05

Total Other-Than-Insignificant Payment Delay

11,364

Term Extension

CRE – Owner Occupied

1,244

0.03

1,546

0.04

Residential 1-4 Family – Commercial

4,586

0.41

4,918

0.43

Residential 1-4 Family – Consumer

196

0.01

395

0.01

Total Term Extension

6,026

6,859

Combination - Other-Than-Insignificant Payment Delay and Term Extension

Commercial and Industrial

—

478

0.01

Total Principal Forgiveness

—

478

Combination - Term Extension and Interest Rate Reduction

Residential 1-4 Family - Consumer

701

0.03

1,531

0.06

Total Combination - Term Extension and Interest Rate Reduction

701

1,531

Total

18,091

20,232


	Three Months Ended				Six Months Ended
	2024				2024
	Amortized Cost		% of Total Class of Financing Receivable		Amortized Cost		% of Total Class of Financing Receivable
Combination - Other-Than-Insignificant Payment Delay and Term Extension
Commercial and Industrial	$	1,153	0.03	%	$	1,153	0.03	%
CRE – Non-Owner Occupied		22,351	0.46	%		22,351	0.46	%
Total Combination - Other-Than-Insignificant Payment Delay and Term Extension	$	23,504			$	23,504

Combination - Term Extension and Interest Rate Reduction
Residential 1-4 Family – Consumer	$	210	0.02	%	$	386	0.03	%
Total Combination - Term Extension and Interest Rate Reduction	$	210			$	386

Combination - Interest Rate Reduction, Term Extension and Other-Than-Insignificant Payment Delay
Commercial and Industrial	$	206	0.01	%	$	206	0.01	%
Total Combination - Interest Rate Reduction, Term Extension and Other-Than-Insignificant Payment Delay	$	206			$	206

Total	$	23,920			$	24,096

The following table describes the financial effects of TLMs on a weighted average basis for TLMs within that loan type for the three and six months ended June 30,:


Three Months Ended
2025

Term Extension
Loan Type				Financial Effect
CRE – Owner Occupied				Added a weighted-average 0.5 years to the life of loans.
Residential 1-4 Family - Commercial				Added a weighted-average 0.8 years to the life of loans.

Six Months Ended
2025

Term Extension
Loan Type				Financial Effect
CRE – Owner Occupied				Added a weighted-average 0.5 years to the life of loans.
Residential 1-4 Family - Commercial				Added a weighted-average 0.8 years to the life of loans.

Combination - Term Extension and Interest Rate Reduction
Loan Type				Financial Effect
Residential 1-4 Family - Consumer				Added a weighted-average 1.6 years to the life of loans and reduced the weighted average contractual interest rate from 5.0% to 2.1%.


Three Months Ended
2024

Combination - Other-Than-Insignificant Payment Delay and Term Extension
Loan Type				Financial Effect
Commercial and Industrial				Added a weighted-average 1.0 years to the life of loans.
CRE – Non-Owner Occupied				Added a weighted-average 1.6 years to the life of loans.

Six Months Ended
2024

Combination - Other-Than-Insignificant Payment Delay and Term Extension
Loan Type				Financial Effect
Commercial and Industrial				Added a weighted-average 1.0 years to the life of loans.
CRE – Non-Owner Occupied				Added a weighted-average 1.6 years to the life of loans.

The Company considers a default of a TLM to occur when the borrower is 90 days past due following the modification or a foreclosure and repossession of the applicable collateral occurs. During the three and six months ended June 30, 2025 and 2024, the Company did not have any material loans that went into default that had been modified and designated as TLMs in the twelve-month period prior to the time of default.

The Company monitors the performance of TLMs to determine the effectiveness of the modifications. During the three and six months ended June 30, 2025 and 2024, the Company did not have any material loans that had been modified and designated as TLMs that were past due.

As of June 30, 2025 and December 31, 2024, there were no material unfunded commitments on loans modified and designated as TLMs.

Allowance for Loan and Lease Losses

ALLL on the loan portfolio is a material estimate for the Company. The Company estimates its ALLL on its loan portfolio on a quarterly basis. The Company models the ALLL using two primary segments, Commercial and Consumer. Each loan segment is further disaggregated into classes based on similar risk characteristics. The Company has identified the following classes within each loan segment:

●

Commercial: Construction and Land Development, CRE – Owner Occupied, CRE – Non-Owner Occupied, Multifamily Real Estate, Commercial & Industrial, Residential 1-4 Family – Commercial, and Other Commercial

●

Consumer: Residential 1-4 Family – Consumer, Residential 1-4 Family – Revolving, Auto, and Consumer

The following tables show the ALLL activity by loan segment for the three and six months ended June 30, (dollars in thousands):

Three Months Ended

Six Months Ended

2025

Commercial

Consumer

Total

Commercial

Consumer

Total

Balance at beginning of period

162,908

30,888

193,796

148,887

29,757

178,644

Initial allowance on Sandy Spring PCD loans⁽¹⁾

21,255

7,010

28,265

21,255

7,010

28,265

Loans charged-off ⁽¹⁾

(1,534)

(1,045)

(2,579)

(3,382)

(2,082)

(5,464)

Recoveries credited to allowance

1,545

368

1,913

1,775

745

2,520

Initial Provision - Sandy Spring non-PCD loans

64,740

24,798

89,538

64,740

24,798

89,538

Provision charged to operations

8,489

(3,848)

4,641

24,128

(2,057)

22,071

Balance at end of period

257,403

58,171

315,574

257,403

58,171

315,574

⁽¹⁾ In accordance with GAAP, amounts exclude $34.5 million charged-off at acquisition related to certain PCD loans that met the Company’s charge-off policy at the time of acquisition.


	Three Months Ended						Six Months Ended
	2024						2024
	Commercial		Consumer		Total		Commercial		Consumer		Total
Balance at beginning of period	$	110,528	$	25,662	$	136,190	$	105,896	$	26,286	$	132,182
Initial allowance on American National PCD loans		2,609		1,287		3,896		2,609		1,287		3,896
Loans charged-off		(2,094)		(994)		(3,088)		(7,033)		(1,949)		(8,982)
Recoveries credited to allowance		1,057		291		1,348		1,590		735		2,325
Initial Provision - American National non-PCD loans		11,213		2,016		13,229		11,213		2,016		13,229
Provision charged to operations		7,826		(1,270)		6,556		16,864		(1,383)		15,481
Balance at end of period	$	131,139	$	26,992	$	158,131	$	131,139	$	26,992	$	158,131

The following table presents additional information related to the acquired Sandy Spring loan portfolio at the acquisition date, including the initial ACL at acquisition on the PCD loans (dollars in thousands):


PCD Loans:
Book value of acquired loans at acquisition	$	1,741,713
Initial ACL at acquisition ⁽¹⁾		(28,265)
Non-credit discount at acquisition		(162,140)
Purchase Price	$	1,551,308

Non-PCD Loans:
Fair Value	$	7,077,565
Gross contractual amounts receivable		10,502,561
Estimate of contractual cash flows not expected to be collected		130,113

⁽¹⁾ In accordance with GAAP, the initial ACL recognized on Sandy Spring PCD loans excludes $34.5 million charged-off at acquisition related to certain PCD loans that met the Company’s charge-off policy at the time of acquisition.

Credit Quality Indicators

Credit quality indicators are used to help estimate the collectability of each loan class within the Commercial and Consumer loan segments. For classes of loans within the Commercial segment, the primary credit quality indicator used for evaluating credit quality and estimating the ALLL is risk rating categories of Pass (including Pass-Watch), Special Mention, Substandard, and Doubtful. For classes of loans within the Consumer segment, the primary credit quality indicator used for evaluating credit quality and estimating ALLL is delinquency bands of current, 30-59, 60-89, 90+, and nonaccrual. While other credit quality indicators are evaluated and analyzed as part of the Company’s credit risk management activities, these indicators are primarily used in estimating the ALLL. The Company evaluates the credit risk of its loan portfolio on at least a quarterly basis.

Refer to Note 1 “Summary of Significant Accounting Policies” in the “Notes to the Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” in the Company’s 2024 Form 10-K for additional information on the Company’s policies and for further information on the Company’s credit quality indicators.

Commercial Loans

The Company uses a risk rating system as the primary credit quality indicator for classes of loans within the Commercial segment. The Company defines pass loans as risk rated 1-5 and criticized loans as risk rated 6-9. See Note 4 “Loans and

Allowance For Loan and Lease Losses” in the “Notes to Consolidated Financial Statements” contained in Item 8 “Financial Statements and Supplementary Data” of the Company’s 2024 Form 10-K for information on the Company’s risk rating system.

The table below details the amortized cost and gross write-offs of the classes of loans within the Commercial segment by risk level and year of origination as of June 30, (dollars in thousands):


		2025
		Term Loans Amortized Cost Basis by Origination Year											Revolving
	2025		2024		2023		2022		2021		Prior		Loans		Total
Construction and Land Development
Pass	$	225,436	$	551,431	$	551,318	$	299,196	$	56,663	$	80,624	$	305,629	$	2,070,297
Watch		1,597		1,923		39,807		30,737		1,772		3,040		20,014		98,890
Special Mention		—		1,164		368		27,711		36,583		23,510		—		89,336
Substandard		178		1,152		17,232		56,923		35,300		8,804		66,039		185,628
Total Construction and Land Development	$	227,211	$	555,670	$	608,725	$	414,567	$	130,318	$	115,978	$	391,682	$	2,444,151
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	(2)	$	—	$	(2)

CRE – Owner Occupied
Pass	$	128,209	$	292,157	$	311,990	$	503,616	$	416,240	$	1,857,499	$	68,612	$	3,578,323
Watch		2,950		18,154		19,948		11,948		6,042		67,900		1,425		128,367
Special Mention		4,331		6,843		12,752		12,822		6,681		67,485		1,023		111,937
Substandard		250		25,983		4,269		3,667		18,012		69,289		140		121,610
Doubtful		—		—		—		—		—		134		—		134
Total CRE – Owner Occupied	$	135,740	$	343,137	$	348,959	$	532,053	$	446,975	$	2,062,307	$	71,200	$	3,940,371
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

CRE – Non-Owner Occupied
Pass	$	204,804	$	394,423	$	688,548	$	1,065,647	$	953,313	$	3,011,228	$	79,219	$	6,397,182
Watch		83		559		14,751		13,602		18,106		63,846		23,569		134,516
Special Mention		—		1,376		24,608		3,825		45,127		103,542		—		178,478
Substandard		—		—		6,273		34,437		1,136		160,602		68		202,516
Total CRE – Non-Owner Occupied	$	204,887	$	396,358	$	734,180	$	1,117,511	$	1,017,682	$	3,339,218	$	102,856	$	6,912,692
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial & Industrial
Pass	$	646,576	$	870,231	$	510,026	$	585,711	$	298,513	$	440,328	$	1,193,282	$	4,544,667
Watch		7,534		32,031		33,905		66,109		11,600		22,769		73,184		247,132
Special Mention		1,122		19,025		22,301		17,486		4,677		7,976		104,892		177,479
Substandard		718		12,196		23,092		24,928		9,392		4,855		56,910		132,091
Doubtful		3		1,580		—		1,465		—		—		37,274		40,322
Total Commercial & Industrial	$	655,953	$	935,063	$	589,324	$	695,699	$	324,182	$	475,928	$	1,465,542	$	5,141,691
Current period gross write-off	$	—	$	—	$	(20)	$	(89)	$	—	$	(90)	$	(1,376)	$	(1,575)

Multifamily Real Estate
Pass	$	88,863	$	71,030	$	150,308	$	455,292	$	309,798	$	653,059	$	58,237	$	1,786,587
Watch		—		—		—		23,428		70,073		3,796		1,309		98,606
Special Mention		—		673		—		1,554		28,173		15,196		—		45,596
Substandard		—		727		14,120		36,414		25,740		75,769		—		152,770
Total Multifamily Real Estate	$	88,863	$	72,430	$	164,428	$	516,688	$	433,784	$	747,820	$	59,546	$	2,083,559
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Residential 1-4 Family – Commercial
Pass	$	56,648	$	57,331	$	90,626	$	191,250	$	164,061	$	461,988	$	3,493	$	1,025,397
Watch		525		1,400		757		4,785		933		17,472		2,709		28,581
Special Mention		34		358		—		23,510		18,449		13,543		—		55,894
Substandard		350		505		—		432		4,454		15,422		253		21,416
Total Residential 1-4 Family – Commercial	$	57,557	$	59,594	$	91,383	$	219,977	$	187,897	$	508,425	$	6,455	$	1,131,288
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	(37)	$	—	$	(37)

Other Commercial
Pass	$	122,642	$	228,333	$	184,743	$	164,389	$	178,632	$	221,699	$	258,241	$	1,358,679
Watch		—		—		129		17,466		840		10,521		11		28,967
Special Mention		—		348		79		—		—		6,261		2,000		8,688
Substandard		—		—		2,419		6,483		2,668		1,367		99		13,036
Total Other Commercial	$	122,642	$	228,681	$	187,370	$	188,338	$	182,140	$	239,848	$	260,351	$	1,409,370
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	(1,768)	$	—	$	(1,768)

Total Commercial
Pass	$	1,473,178	$	2,464,936	$	2,487,559	$	3,265,101	$	2,377,220	$	6,726,425	$	1,966,713	$	20,761,132
Watch		12,689		54,067		109,297		168,075		109,366		189,344		122,221		765,059
Special Mention		5,487		29,787		60,108		86,908		139,690		237,513		107,915		667,408
Substandard		1,496		40,563		67,405		163,284		96,702		336,108		123,509		829,067
Doubtful		3		1,580		—		1,465		—		134		37,274		40,456
Total Commercial	$	1,492,853	$	2,590,933	$	2,724,369	$	3,684,833	$	2,722,978	$	7,489,524	$	2,357,632	$	23,063,122
Total current period gross write-off	$	—	$	—	$	(20)	$	(89)	$	—	$	(1,897)	$	(1,376)	$	(3,382)

The table below details the amortized cost and gross write-offs of the classes of loans within the Commercial segment by risk level and year of origination as of December 31, (dollars in thousands):


		2024
		Term Loans Amortized Cost Basis by Origination Year											Revolving
	2024		2023		2022		2021		2020		Prior		Loans		Total
Construction and Land Development
Pass	$	350,344	$	630,033	$	372,483	$	120,851	$	14,180	$	46,671	$	120,240	$	1,654,802
Watch		3		22,790		18,172		384		—		717		—		42,066
Special Mention		739		1,771		1,629		226		1,332		1,139		—		6,836
Substandard		162		80		22,237		745		1,467		2,713		—		27,404
Total Construction and Land Development	$	351,248	$	654,674	$	414,521	$	122,206	$	16,979	$	51,240	$	120,240	$	1,731,108
Current period gross write-off	$	—	$	—	$	(1,109)	$	—	$	—	$	—	$	—	$	(1,109)

CRE – Owner Occupied
Pass	$	152,865	$	243,842	$	293,260	$	262,430	$	248,187	$	1,014,962	$	27,316	$	2,242,862
Watch		4,455		1,391		1,424		1,854		2,507		35,093		79		46,803
Special Mention		1,153		6,659		1,577		2,102		2,266		11,556		2,389		27,702
Substandard		24,722		1,188		1,921		352		2,433		21,996		140		52,752
Total CRE – Owner Occupied	$	183,195	$	253,080	$	298,182	$	266,738	$	255,393	$	1,083,607	$	29,924	$	2,370,119
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	(354)	$	—	$	(354)

CRE – Non-Owner Occupied
Pass	$	349,991	$	514,460	$	692,155	$	835,195	$	381,544	$	1,838,343	$	40,741	$	4,652,429
Watch		—		150		7,465		11,855		—		70,113		13,013		102,596
Special Mention		384		—		18,342		883		7,387		47,286		—		74,282
Substandard		—		12,609		—		1,130		36,796		55,677		71		106,283
Total CRE – Non-Owner Occupied	$	350,375	$	527,219	$	717,962	$	849,063	$	425,727	$	2,011,419	$	53,825	$	4,935,590
Current period gross write-off	$	—	$	—	$	—	$	—	$	(3,386)	$	—	$	—	$	(3,386)

Commercial & Industrial
Pass	$	787,683	$	593,676	$	534,064	$	300,348	$	124,214	$	227,352	$	982,085	$	3,549,422
Watch		2,458		30,428		48,661		6,980		486		2,434		24,153		115,600
Special Mention		2,289		12,328		15,458		4,001		2,183		19,125		64,204		119,588
Substandard		9,214		2,340		3,423		4,139		472		1,327		29,839		50,754
Doubtful		—		—		1,598		—		—		—		27,733		29,331
Total Commercial & Industrial	$	801,644	$	638,772	$	603,204	$	315,468	$	127,355	$	250,238	$	1,128,014	$	3,864,695
Current period gross write-off	$	—	$	(42)	$	(1,081)	$	(145)	$	(147)	$	(928)	$	(1,187)	$	(3,530)

Multifamily Real Estate
Pass	$	80,345	$	34,060	$	259,493	$	229,950	$	205,699	$	302,186	$	35,706	$	1,147,439
Watch		—		—		1,719		73,780		129		—		—		75,628
Special Mention		—		—		—		—		250		1,185		—		1,435
Substandard		—		14,210		—		—		—		1,497		—		15,707
Total Multifamily Real Estate	$	80,345	$	48,270	$	261,212	$	303,730	$	206,078	$	304,868	$	35,706	$	1,240,209
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Residential 1-4 Family – Commercial
Pass	$	49,068	$	66,307	$	115,526	$	108,751	$	79,090	$	250,273	$	9,617	$	678,632
Watch		274		504		1,277		737		730		6,571		152		10,245
Special Mention		—		—		23,435		215		331		1,500		—		25,481
Substandard		517		—		—		229		588		3,480		253		5,067
Total Residential 1-4 Family – Commercial	$	49,859	$	66,811	$	140,238	$	109,932	$	80,739	$	261,824	$	10,022	$	719,425
Current period gross write-off	$	—	$	—	$	—	$	—	$	(18)	$	—	$	—	$	(18)

Other Commercial
Pass	$	233,480	$	196,703	$	169,440	$	157,815	$	82,990	$	161,984	$	106,368	$	1,108,780
Watch		—		1,926		6,170		1,525		5,293		4,419		—		19,333
Special Mention		—		84		1,059		3,163		—		582		—		4,888
Substandard		—		1,060		3,272		—		30		2		99		4,463
Total Other Commercial	$	233,480	$	199,773	$	179,941	$	162,503	$	88,313	$	166,987	$	106,467	$	1,137,464
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	(3,492)	$	—	$	(3,492)

Total Commercial
Pass	$	2,003,776	$	2,279,081	$	2,436,421	$	2,015,340	$	1,135,904	$	3,841,771	$	1,322,073	$	15,034,366
Watch		7,190		57,189		84,888		97,115		9,145		119,347		37,397		412,271
Special Mention		4,565		20,842		61,500		10,590		13,749		82,373		66,593		260,212
Substandard		34,615		31,487		30,853		6,595		41,786		86,692		30,402		262,430
Doubtful		—		—		1,598		—		—		—		27,733		29,331
Total Commercial	$	2,050,146	$	2,388,599	$	2,615,260	$	2,129,640	$	1,200,584	$	4,130,183	$	1,484,198	$	15,998,610
Total current period gross write-off	$	—	$	(42)	$	(2,190)	$	(145)	$	(3,551)	$	(4,774)	$	(1,187)	$	(11,889)

Consumer Loans

For Consumer loans, the Company evaluates credit quality based on the delinquency status of the loan. The following table details the amortized cost and gross write-offs of the classes of loans within the Consumer segment based on their delinquency status and year of origination as of June 30, (dollars in thousands):


		2025
		Term Loans Amortized Cost Basis by Origination Year											Revolving
	2025		2024		2023		2022		2021		Prior		Loans		Total
Residential 1-4 Family – Consumer
Current	$	148,653	$	188,702	$	222,596	$	710,204	$	616,934	$	814,286	$	15,811	$	2,717,186
30-59 Days Past Due		—		36		46		280		35		1,665		63		2,125
60-89 Days Past Due		101		—		494		680		122		3,120		42		4,559
90+ Days Past Due		—		—		128		194		—		1,165		—		1,487
Nonaccrual		—		—		692		3,777		2,670		13,550		—		20,689
Total Residential 1-4 Family – Consumer	$	148,754	$	188,738	$	223,956	$	715,135	$	619,761	$	833,786	$	15,916	$	2,746,046
Current period gross write-off	$	—	$	—	$	—	$	(105)	$	—	$	(26)	$	—	$	(131)

Residential 1-4 Family – Revolving
Current	$	12,087	$	14,468	$	27,760	$	43,324	$	10,309	$	9,329	$	1,022,638	$	1,139,915
30-59 Days Past Due		—		—		55		29		56		102		4,028		4,270
60-89 Days Past Due		—		—		—		55		—		64		1,975		2,094
90+ Days Past Due		—		—		274		128		—		47		2,011		2,460
Nonaccrual		—		—		302		154		36		933		3,921		5,346
Total Residential 1-4 Family – Revolving	$	12,087	$	14,468	$	28,391	$	43,690	$	10,401	$	10,475	$	1,034,573	$	1,154,085
Current period gross write-off	$	—	$	—	$	—	$	—	$	—	$	—	$	(45)	$	(45)

Auto
Current	$	1,128	$	2,236	$	45,681	$	115,075	$	51,212	$	25,093	$	—	$	240,425
30-59 Days Past Due		82		2		549		1,673		876		553		—		3,735
60-89 Days Past Due		1		1		199		243		175		99		—		718
90+ Days Past Due		—		—		79		24		22		25		—		150
Nonaccrual		—		—		40		306		77		103		—		526
Total Auto	$	1,211	$	2,239	$	46,548	$	117,321	$	52,362	$	25,873	$	—	$	245,554
Current period gross write-off	$	—	$	—	$	(135)	$	(632)	$	(156)	$	(92)	$	—	$	(1,015)

Consumer
Current	$	8,258	$	11,403	$	6,377	$	8,760	$	5,819	$	30,560	$	47,589	$	118,766
30-59 Days Past Due		4		26		45		40		—		78		81		274
60-89 Days Past Due		4		15		38		24		10		264		32		387
90+ Days Past Due		—		38		7		11		20		—		3		79
Nonaccrual		—		4		—		10		6		—		—		20
Total Consumer	$	8,266	$	11,486	$	6,467	$	8,845	$	5,855	$	30,902	$	47,705	$	119,526
Current period gross write-off	$	(5)	$	(81)	$	(180)	$	(20)	$	(27)	$	(531)	$	(47)	$	(891)

Total Consumer
Current	$	170,126	$	216,809	$	302,414	$	877,363	$	684,274	$	879,268	$	1,086,038	$	4,216,292
30-59 Days Past Due		86		64		695		2,022		967		2,398		4,172		10,404
60-89 Days Past Due		106		16		731		1,002		307		3,547		2,049		7,758
90+ Days Past Due		—		38		488		357		42		1,237		2,014		4,176
Nonaccrual		—		4		1,034		4,247		2,789		14,586		3,921		26,581
Total Consumer	$	170,318	$	216,931	$	305,362	$	884,991	$	688,379	$	901,036	$	1,098,194	$	4,265,211
Total current period gross write-off	$	(5)	$	(81)	$	(315)	$	(757)	$	(183)	$	(649)	$	(92)	$	(2,082)

The following table details the amortized cost and gross write-offs of the classes of loans within the Consumer segment based on their delinquency status and year of origination as of December 31, (dollars in thousands):


		2024
		Term Loans Amortized Cost Basis by Origination Year											Revolving
	2024		2023		2022		2021		2020		Prior		Loans		Total
Residential 1-4 Family – Consumer
Current	$	137,808	$	171,237	$	287,376	$	277,653	$	151,177	$	241,203	$	13	$	1,266,467
30-59 Days Past Due		233		405		14		470		954		3,852		—		5,928
60-89 Days Past Due		—		28		216		5,546		—		1,600		—		7,390
90+ Days Past Due		—		150		94		—		—		1,063		—		1,307
Nonaccrual		—		505		2,953		1,109		207		7,951		—		12,725
Total Residential 1-4 Family – Consumer	$	138,041	$	172,325	$	290,653	$	284,778	$	152,338	$	255,669	$	13	$	1,293,817
Current period gross write-off	$	—	$	(76)	$	(3)	$	—	$	—	$	(142)	$	—	$	(221)

Residential 1-4 Family – Revolving
Current	$	17,522	$	33,934	$	45,558	$	10,407	$	3,578	$	1,731	$	634,744	$	747,474
30-59 Days Past Due		—		11		81		—		30		—		1,702		1,824
60-89 Days Past Due		—		—		—		—		—		—		2,110		2,110
90+ Days Past Due		—		178		130		—		—		—		1,402		1,710
Nonaccrual		—		139		112		—		45		—		3,530		3,826
Total Residential 1-4 Family – Revolving	$	17,522	$	34,262	$	45,881	$	10,407	$	3,653	$	1,731	$	643,488	$	756,944
Current period gross write-off	$	—	$	—	$	—	$	(28)	$	—	$	—	$	(189)	$	(217)

Auto
Current	$	2,251	$	55,170	$	145,517	$	68,282	$	28,923	$	11,211	$	—	$	311,354
30-59 Days Past Due		—		507		1,571		1,053		218		266		—		3,615
60-89 Days Past Due		—		97		233		87		—		39		—		456
90+ Days Past Due		—		10		149		74		31		20		—		284
Nonaccrual		—		94		305		113		118		29		—		659
Total Auto	$	2,251	$	55,878	$	147,775	$	69,609	$	29,290	$	11,565	$	—	$	316,368
Current period gross write-off	$	—	$	(243)	$	(835)	$	(335)	$	(82)	$	(75)	$	—	$	(1,570)

Consumer
Current	$	13,664	$	7,932	$	12,490	$	6,998	$	5,903	$	27,967	$	28,574	$	103,528
30-59 Days Past Due		26		73		87		9		10		542		57		804
60-89 Days Past Due		15		54		56		10		14		333		4		486
90+ Days Past Due		—		4		31		3		4		—		2		44
Nonaccrual		—		—		13		7		—		—		—		20
Total Consumer	$	13,705	$	8,063	$	12,677	$	7,027	$	5,931	$	28,842	$	28,637	$	104,882
Current period gross write-off	$	(6)	$	(206)	$	(116)	$	(31)	$	(782)	$	(756)	$	(162)	$	(2,059)

Total Consumer
Current	$	171,245	$	268,273	$	490,941	$	363,340	$	189,581	$	282,112	$	663,331	$	2,428,823
30-59 Days Past Due		259		996		1,753		1,532		1,212		4,660		1,759		12,171
60-89 Days Past Due		15		179		505		5,643		14		1,972		2,114		10,442
90+ Days Past Due		—		342		404		77		35		1,083		1,404		3,345
Nonaccrual		—		738		3,383		1,229		370		7,980		3,530		17,230
Total Consumer	$	171,519	$	270,528	$	496,986	$	371,821	$	191,212	$	297,807	$	672,138	$	2,472,011
Total current period gross write-off	$	(6)	$	(525)	$	(954)	$	(394)	$	(864)	$	(973)	$	(351)	$	(4,067)

As of June 30, 2025 and December 31, 2024, the Company did not have any material revolving loans convert to term.