v3.25.2
Loans (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Loans Classifications
Loans were comprised of the following classifications:
 June 30,
2025		December 31,
2024
Commercial:
Commercial and Industrial Loans$734,551 $591,785 
Commercial Real Estate Loans3,096,728 2,224,872 
Agricultural Loans461,420 431,037 
Leases82,995 79,253 
Retail:
Home Equity Loans434,437 344,808 
Consumer Loans112,770 81,396 
Credit Cards27,116 22,668 
Residential Mortgage Loans798,343 357,448 
Subtotal5,748,360 4,133,267 
Less: Unearned Income(8,932)(8,365)
Allowance for Credit Losses(75,510)(44,436)
Loans, Net$5,663,918 $4,080,466 
Schedule of Business Combination, Acquired Receivables
As further described in Note 16, during 2025 the Company acquired loans at fair value as part of a business combination. The table below summarizes the loans acquired on February 1, 2025.
Acquired Loan BalanceFair Value DiscountFair Value
Bank Acquisition$1,569,631 $(65,658)$1,503,973 
The table below summarizes the remaining carrying amount of acquired loans included in the June 30, 2025 table above.
Commercial and Industrial LoansCommercial Real Estate LoansAgricultural LoansLeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
Loan Balance$132,016 $782,537 $35,622 $— $26,813 $58,589 $— $431,314 $1,466,891 
Fair Value (Discount)/Premium(3,395)(17,950)(649)— (317)(1,009)— (35,124)(58,444)
The Company has purchased loans for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of these loans is as follows:
2025
Purchase Price of Loans at Acquisition$94,387 
Allowance for Credit Losses at Acquisition15,908 
Non-Credit Discount/(Premium) at Acquisition6,449 
Total$116,744 
Schedule of Allowance for Credit Losses for Loans
The following tables present the activity in the allowance for credit losses by portfolio segment for the three months ended June 30, 2025 and 2024:
June 30, 2025Commercial and Industrial
Loans		Commercial Real Estate LoansAgricultural
Loans		LeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
Allowance for Credit Losses:
Beginning Balance$15,343 $37,811 $5,306 $1,151 $657 $3,942 $608 $10,340 $75,158 
Provision (Benefit) for Credit Loss Expense2,620 423 (2,176)41 259 384 366 (717)1,200 
Loans Charged-off(247)(26)— — (334)— (386)(28)(1,021)
Recoveries Collected23 — — — 109 8 33 — 173 
Total Ending Allowance Balance$17,739 $38,208 $3,130 $1,192 $691 $4,334 $621 $9,595 $75,510 
June 30, 2024Commercial and Industrial
Loans		Commercial Real Estate LoansAgricultural
Loans		LeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
Allowance for Credit Losses:
Beginning Balance$7,266 $26,452 $3,650 $373 $785 $2,001 $395 $2,832 $43,754 
Provision (Benefit) for Credit Loss Expense(75)142 46 (5)206 55 198 58 625 
Loans Charged-off(29)— (1)— (384)— (185)— (599)
Recoveries Collected38 4 2 — 115 2 5 — 166 
Total Ending Allowance Balance$7,200 $26,598 $3,697 $368 $722 $2,058 $413 $2,890 $43,946 
The following tables present the activity in the allowance for credit losses by portfolio segment for the six months ended June 30, 2025 and 2024:

June 30, 2025Commercial and Industrial
Loans		Commercial Real Estate LoansAgricultural
Loans		LeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
Allowance for Credit Losses:
Beginning balance$7,059 $25,818 $4,917 $397 $727 $2,196 $520 $2,802 $44,436 
Change in Accounting Method1,438 (3,271)(1,655)720 (284)1,056 (24)2,013 (7)
2/1/2025 Acquired Heartland PCD5,246 7,080 3,352 — 20 11 — 199 15,908 
Day 2 CECL Provision - Heartland1,797 7,522 170 — 179 570 — 5,962 16,200 
Provision (Benefit) for credit loss expense2,545 1,085 (3,654)75 486 492 631 (1,353)307 
Loans charged-off(373)(26)— — (659)— (560)(28)(1,646)
Recoveries collected27 — — — 222 9 54 — 312 
Total ending allowance balance$17,739 $38,208 $3,130 $1,192 $691 $4,334 $621 $9,595 $75,510 
June 30, 2024Commercial and Industrial
Loans		Commercial Real Estate LoansAgricultural
Loans		LeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
Allowance for Credit Losses:
Beginning balance$7,921 $25,923 $3,837 $346 $759 $1,834 $383 $2,762 $43,765 
Provision (Benefit) for credit loss expense(631)974 (141)22 476 349 348 128 1,525 
Loans charged-off(131)(308)(1)— (753)(134)(333)— (1,660)
Recoveries collected41 9 2 — 240 9 15 — 316 
Total ending allowance balance$7,200 $26,598 $3,697 $368 $722 $2,058 $413 $2,890 $43,946 
Schedule of Non-Accrual and Past Due Loans
The following tables present the amortized cost in non-accrual loans and loans past due over 89 days still accruing by class of loans as of June 30, 2025 and December 31, 2024:
June 30, 2025
Non-Accrual With No Allowance for Credit Loss (1)
Total Non-AccrualLoans Past Due Over 89 Days Still Accruing
Commercial and Industrial Loans$2,415 $9,150 $159 
Commercial Real Estate Loans3,537 7,741 1,429 
Agricultural Loans97 105 713 
Leases— — — 
Home Equity Loans1,084 1,189 — 
Consumer Loans25 25 — 
Credit Cards126 126 — 
Residential Mortgage Loans3,361 4,451 — 
Total$10,645 $22,787 $2,301 
(1) Includes non-accrual loans with no allowance for credit loss and are also included in Total Non-Accrual loans of $22,787.
December 31, 2024
Non-Accrual With No Allowance for Credit Loss (1)
Total Non-AccrualLoans Past Due Over 89 Days Still Accruing
Commercial and Industrial Loans$1,346 $5,018 $— 
Commercial Real Estate Loans1,268 1,745 183 
Agricultural Loans655 765 5 
Leases— — — 
Home Equity Loans1,087 1,087 — 
Consumer Loans63 63 — 
Credit Cards54 54 — 
Residential Mortgage Loans1,977 2,202 — 
Total$6,450 $10,934 $188 
(1) Includes non-accrual loans with no allowance for credit loss and are also included in Total Non-Accrual loans of $10,934.
Schedule or Collateral-dependent Loans by Class
The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of June 30, 2025 and December 31, 2024:
June 30, 2025Real EstateEquipmentAccounts ReceivableOtherTotal
Commercial and Industrial Loans$10,118 $6,446 $— $10,960 $27,524 
Commercial Real Estate Loans39,633 311 — — 39,944 
Agricultural Loans1,008 8 — 652 1,668 
Leases— — — — — 
Home Equity Loans423 — — — 423 
Consumer Loans10 11 — — 21 
Credit Cards— — — — — 
Residential Mortgage Loans1,625 — — — 1,625 
Total$52,817 $6,776 $— $11,612 $71,205 
December 31, 2024Real EstateEquipmentAccounts ReceivableOtherTotal
Commercial and Industrial Loans$5,986 $90 $— $58 $6,134 
Commercial Real Estate Loans7,293 — — — 7,293 
Agricultural Loans2,777 263 — — 3,040 
Leases— — — — — 
Home Equity Loans423 — — — 423 
Consumer Loans10 — — — 10 
Credit Cards— — — — — 
Residential Mortgage Loans523 — — — 523 
Total$17,012 $353 $— $58 $17,423 
Schedule of Aging of Past Due Loans
The following tables present the aging of the amortized cost basis in past due loans by class of loans as of June 30, 2025 and December 31, 2024:
June 30, 202530-59 Days Past Due60-89 Days Past DueGreater Than 89 Days Past DueTotal
Past Due		Loans Not Past DueTotal
Commercial and Industrial Loans$488 $865 $5,931 $7,284 $727,267 $734,551 
Commercial Real Estate Loans2,278 514 6,280 9,072 3,087,656 3,096,728 
Agricultural Loans1,395 314 713 2,422 458,998 461,420 
Leases— — — — 82,995 82,995 
Home Equity Loans2,537 217 1,189 3,943 430,494 434,437 
Consumer Loans528 32 25 585 112,185 112,770 
Credit Cards204 85 126 415 26,701 27,116 
Residential Mortgage Loans13,637 4,556 4,218 22,411 775,932 798,343 
Total$21,067 $6,583 $18,482 $46,132 $5,702,228 $5,748,360 

December 31, 202430-59 Days Past Due60-89 Days Past DueGreater Than 89 Days Past DueTotal
Past Due		Loans Not Past DueTotal
Commercial and Industrial Loans$531 $36 $4,395 $4,962 $586,823 $591,785 
Commercial Real Estate Loans546 673 1,368 2,587 2,222,285 2,224,872 
Agricultural Loans241 — 428 669 430,368 431,037 
Leases— — — — 79,253 79,253 
Home Equity Loans1,515 544 1,087 3,146 341,662 344,808 
Consumer Loans185 194 63 442 80,954 81,396 
Credit Cards398 98 54 550 22,118 22,668 
Residential Mortgage Loans5,744 3,644 2,035 11,423 346,025 357,448 
Total$9,160 $5,189 $9,430 $23,779 $4,109,488 $4,133,267 
Schedule of Risk Category of Loans
Based on the analysis performed at June 30, 2025 and December 31, 2024, the risk category of loans by class of loans is as follows:
Term Loans Amortized Cost Basis by Origination Year
As of June 30, 202520252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
Commercial and Industrial:
Risk Rating
Pass$69,625 $116,738 $76,233 $93,140 $62,353 $56,162 $215,707 $689,958 
Special Mention411 812 1,677 283 624 2,669 4,251 10,727 
Substandard100 910 3,276 6,273 4,859 10,167 8,281 33,866 
Doubtful— — — — — — — — 
Total Commercial & Industrial Loans$70,136 $118,460 $81,186 $99,696 $67,836 $68,998 $228,239 $734,551 
Current Period Gross Charge-Offs$— $256 $— $27 $— $40 $50 $373 
Commercial Real Estate:
Risk Rating
Pass$214,388 $421,994 $421,347 $547,829 $477,663 $847,573 $56,432 $2,987,226 
Special Mention402 1,909 13,299 9,398 14,332 26,792 — 66,132 
Substandard79 — 901 3,188 7,453 31,617 132 43,370 
Doubtful— — — — — — — — 
Total Commercial Real Estate Loans$214,869 $423,903 $435,547 $560,415 $499,448 $905,982 $56,564 $3,096,728 
Current Period Gross Charge-Offs$— $— $— $— $— $26 $— $26 
Agricultural:
Risk Rating
Pass$28,570 $39,037 $35,856 $47,287 $31,571 $137,709 $102,388 $422,418 
Special Mention2,246 1,988 2,744 1,029 3,095 13,863 9,277 34,242 
Substandard— 371 163 — 107 3,569 550 4,760 
Doubtful— — — — — — — — 
Total Agricultural Loans$30,816 $41,396 $38,763 $48,316 $34,773 $155,141 $112,215 $461,420 
Current Period Gross Charge-Offs$— $— $— $— $— $— $— $— 
Leases:
Risk Rating
Pass$17,467 $27,912 $23,015 $6,278 $3,751 $4,572 $— $82,995 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total Leases$17,467 $27,912 $23,015 $6,278 $3,751 $4,572 $— $82,995 
Current Period Gross Charge-Offs$— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year
As of December 31, 202420242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Commercial and Industrial:
Risk Rating
Pass$118,037 $86,412 $93,406 $64,298 $17,140 $49,181 $143,096 $571,570 
Special Mention147 1,709 787 1,061 1,202 2,044 1,023 7,973 
Substandard108 627 181 3,164 908 3,619 3,635 12,242 
Doubtful— — — — — — — — 
Total Commercial & Industrial Loans$118,292 $88,748 $94,374 $68,523 $19,250 $54,844 $147,754 $591,785 
Current Period Gross Charge-Offs$— $4 $96 $64 $— $13 $46 $223 
Commercial Real Estate:
Risk Rating
Pass$327,488 $315,981 $410,135 $394,698 $187,849 $502,263 $39,271 $2,177,685 
Special Mention433 13,433 1,740 5,395 1,975 12,349 200 35,525 
Substandard— 181 566 5,155 — 5,760 — 11,662 
Doubtful— — — — — — — — 
Total Commercial Real Estate Loans$327,921 $329,595 $412,441 $405,248 $189,824 $520,372 $39,471 $2,224,872 
Current Period Gross Charge-Offs$— $— $— $— $— $308 $— $308 
Agricultural:
Risk Rating
Pass$47,179 $35,379 $48,105 $33,666 $35,726 $103,702 $102,251 $406,008 
Special Mention547 1,426 146 822 5,075 10,676 2,065 20,757 
Substandard175 — — — — 4,097 — 4,272 
Doubtful— — — — — — — — 
Total Agricultural Loans$47,901 $36,805 $48,251 $34,488 $40,801 $118,475 $104,316 $431,037 
Current Period Gross Charge-Offs$— $— $— $— $— $8 $— $8 
Leases:
Risk Rating
Pass$32,214 $26,392 $8,272 $6,578 $2,128 $3,669 $— $79,253 
Special Mention— — — — — — — — 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total Leases$32,214 $26,392 $8,272 $6,578 $2,128 $3,669 $— $79,253 
Current Period Gross Charge-Offs$— $— $— $— $— $— $— $— 
Schedule of Residential, Home Equity and Consumer Loans Based on Payment Activity The following tables present the amortized cost in residential, home equity and consumer loans based on payment activity.
Term Loans Amortized Cost Basis by Origination Year
As of June 30, 202520252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
Consumer:
Payment performance
Performing$26,707 $49,740 $17,164 $7,024 $4,668 $3,272 $4,170 $112,745 
Nonperforming— 8 16 1 — — — 25 
Total Consumer Loans$26,707 $49,748 $17,180 $7,025 $4,668 $3,272 $4,170 $112,770 
Current Period Gross Charge-Offs$551 $21 $43 $28 $15 $1 $— $659 
Home Equity:
Payment performance
Performing$481 $782 $951 $3,483 $914 $4,960 $421,677 $433,248 
Nonperforming— 70 128 593 25 348 25 1,189 
Total Home Equity Loans$481 $852 $1,079 $4,076 $939 $5,308 $421,702 $434,437 
Current Period Gross Charge-Offs$— $— $— $— $— $— $— $— 
Residential Mortgage:
Payment performance
Performing$46,749 $88,452 $105,380 $202,864 $152,453 $197,994 $— $793,892 
Nonperforming— 79 394 1,472 1,070 1,436 — 4,451 
Total Residential Mortgage Loans$46,749 $88,531 $105,774 $204,336 $153,523 $199,430 $— $798,343 
Current Period Gross Charge-Offs$— $— $— $— $28 $— $— $28 
Term Loans Amortized Cost Basis by Origination Year
As of December 31, 202420242023202220212020PriorRevolving Loans Amortized Cost BasisTotal
Consumer:
Payment performance
Performing$40,504 $20,828 $9,359 $5,469 $1,181 $1,542 $2,450 $81,333 
Nonperforming26 1 13 15 — 8 — 63 
Total Consumer Loans$40,530 $20,829 $9,372 $5,484 $1,181 $1,550 $2,450 $81,396 
Current Period Gross Charge-Offs$1,212 $181 $72 $40 $— $2 $4 $1,511 
Home Equity:
Payment performance
Performing$172 $161 $3,721 $773 $478 $3,532 $334,884 $343,721 
Nonperforming— 128 277 24 25 604 29 1,087 
Total Home Equity Loans$172 $289 $3,998 $797 $503 $4,136 $334,913 $344,808 
Current Period Gross Charge-Offs$— $— $62 $99 $— $— $9 $170 
Residential Mortgage:
Payment performance
Performing$48,957 $51,059 $57,988 $73,239 $35,370 $88,633 $— $355,246 
Nonperforming— 214 229 669 234 856 — 2,202 
Total Residential Mortgage Loans$48,957 $51,273 $58,217 $73,908 $35,604 $89,489 $— $357,448 
Current Period Gross Charge-Offs$— $— $— $— $— $— $— $— 
Schedule of Recorded Investment in Credit Cards Based on Payment Activity The following table presents the recorded investment in credit cards based on payment activity:
Credit CardsJune 30, 2025December 31, 2024
   Performing$26,990 $22,614 
   Nonperforming126 54 
      Total$27,116 $22,668 

The following tables present loans purchased and/or sold during the year by portfolio segment and excludes the business combination activity:

June 30, 2025Commercial and Industrial LoansCommercial Real Estate LoansAgricultural LoansLeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
   Purchases$— $— $— $— $— $— $— $— $— 
   Sales— 17,312 1,131 — — — — — 18,443 
December 31, 2024Commercial and Industrial LoansCommercial Real Estate LoansAgricultural LoansLeasesConsumer LoansHome Equity LoansCredit CardsResidential Mortgage LoansTotal
Purchases$— $— $— $— $— $— $— $— $— 
Sales— — — — — — — — —