Loans and Lease Finance Receivables and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2025

Receivables [Abstract]

Summary of Components of Loans and Lease Finance Receivables, Excluding PCI Loans

The following table provides a summary of total loans and lease finance receivables by type.


	June 30, 2025				December 31, 2024
	(Dollars in thousands)

Commercial real estate	$	6,517,415			$	6,507,452
Construction		17,658				16,082
Small Business Administration ("SBA")		271,735				273,013
SBA - Paycheck Protection Program ("PPP")		85				774
Commercial and industrial		912,427				925,178
Dairy & livestock and agribusiness		233,772				419,904
Municipal lease finance receivables		63,652				66,114
SFR mortgage		288,435				269,172
Consumer and other loans		53,322				58,743
Total loans, at amortized cost		8,358,501				8,536,432
Less: Allowance for credit losses		(78,003	)			(80,122	)
Total loans and lease finance receivables, net	$	8,280,498			$	8,456,310

Summary of Loans by Type and Origination Year, According to our Internal Risk Ratings

The following table summarizes loans by type and origination year, according to our internal risk ratings as of the dates presented.


	Origination Year																								Revolving loans amortized				Revolving loans converted to
June 30, 2025	2025				2024				2023				2022				2021				Prior				cost basis				term loans				Total
	(Dollars in thousands)
Commercial real estate loans:
Risk Rating:
Pass	$	284,142			$	305,013			$	391,978			$	1,181,124			$	1,021,260			$	2,812,471			$	208,186			$	35,810			$	6,239,984
Special Mention		—				9,597				10,167				38,965				23,766				131,928				5,068				6,769				226,260
Substandard		1,217				1,174				677				5,533				3,510				39,060				—				—				51,171
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Commercial real estate loans:	$	285,359			$	315,784			$	402,822			$	1,225,622			$	1,048,536			$	2,983,459			$	213,254			$	42,579			$	6,517,415
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Construction loans:
Risk Rating:
Pass	$	456			$	7,722			$	322			$	9,158			$	—			$	—			$	—			$	—			$	17,658
Special Mention		—				—				—				—				—				—				—				—				—
Substandard		—				—				—				—				—				—				—				—				—
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Construction loans:	$	456			$	7,722			$	322			$	9,158			$	—			$	—			$	—			$	—			$	17,658
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

SBA loans:
Risk Rating:
Pass	$	17,212			$	26,270			$	15,455			$	45,606			$	45,957			$	106,918			$	—			$	—			$	257,418
Special Mention		—				—				—				—				—				6,241				—				—				6,241
Substandard		—				3,365				—				1,559				—				3,152				—				—				8,076
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total SBA loans:	$	17,212			$	29,635			$	15,455			$	47,165			$	45,957			$	116,311			$	—			$	—			$	271,735
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	51			$	—			$	—			$	51

SBA - PPP loans:
Risk Rating:
Pass	$	—			$	—			$	—			$	—			$	78			$	7			$	—			$	—			$	85
Special Mention		—				—				—				—				—				—				—				—				—
Substandard		—				—				—				—				—				—				—				—				—
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total SBA - PPP loans:	$	—			$	—			$	—			$	—			$	78			$	7			$	—			$	—			$	85
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial and industrial loans:
Risk Rating:
Pass	$	75,086			$	90,849			$	104,887			$	96,293			$	56,974			$	167,382			$	278,848			$	10,128			$	880,447
Special Mention		99				149				1,799				1,609				1,328				3,527				11,197				4,989				24,697
Substandard		—				—				1,543				389				219				294				1,100				3,738				7,283
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Commercial and industrial loans:	$	75,185			$	90,998			$	108,229			$	98,291			$	58,521			$	171,203			$	291,145			$	18,855			$	912,427
Current YTD Period: Gross charge-offs	$	—			$	—			$	392			$	—			$	—			$	—			$	—			$	21			$	413


	Origination Year																								Revolving loans amortized				Revolving loans converted to
June 30, 2025	2025				2024				2023				2022				2021				Prior				cost basis				term loans				Total
	(Dollars in thousands)
Dairy & livestock and agribusiness loans:
Risk Rating:
Pass	$	—			$	644			$	—			$	—			$	552			$	871			$	199,473			$	117			$	201,657
Special Mention		395				—				—				—				395				(395	)			24,154				1,292				25,841
Substandard		—				—				—				—				—				60				6,214				—				6,274
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Dairy & livestock and agribusiness loans:	$	395			$	644			$	—			$	—			$	947			$	536			$	229,841			$	1,409			$	233,772
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Municipal lease finance receivables loans:
Risk Rating:
Pass	$	56			$	2,788			$	—			$	4,843			$	24,586			$	31,325			$	—			$	—			$	63,598
Special Mention		—				—				—				—				—				54				—				—				54
Substandard		—				—				—				—				—				—				—				—				—
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Municipal lease finance receivables loans:	$	56			$	2,788			$	—			$	4,843			$	24,586			$	31,379			$	—			$	—			$	63,652
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

SFR mortgage loans:
Risk Rating:
Pass	$	29,363			$	18,220			$	19,901			$	58,504			$	40,186			$	121,279			$	—			$	—			$	287,453
Special Mention		—				—				—				—				—				390				—				271				661
Substandard		—				—				—				—				—				321				—				—				321
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total SFR mortgage loans:	$	29,363			$	18,220			$	19,901			$	58,504			$	40,186			$	121,990			$	—			$	271			$	288,435
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Consumer and other loans:
Risk Rating:
Pass	$	1,445			$	4,700			$	2,452			$	668			$	943			$	520			$	39,607			$	2,610			$	52,945
Special Mention		—				—				—				—				75				—				5				—				80
Substandard		—				—				—				—				—				—				—				297				297
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Consumer and other loans:	$	1,445			$	4,700			$	2,452			$	668			$	1,018			$	520			$	39,612			$	2,907			$	53,322
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	5			$	—			$	5

Total Loans, at amortized cost:
Risk Rating:
Pass	$	407,760			$	456,206			$	534,995			$	1,396,196			$	1,190,536			$	3,240,773			$	726,114			$	48,665			$	8,001,245
Special Mention		494				9,746				11,966				40,574				25,564				141,745				40,424				13,321				283,834
Substandard		1,217				4,539				2,220				7,481				3,729				42,887				7,314				4,035				73,422
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Loans at amortized cost:	$	409,471			$	470,491			$	549,181			$	1,444,251			$	1,219,829			$	3,425,405			$	773,852			$	66,021			$	8,358,501
Current YTD Period: Total gross charge-offs	$	—			$	—			$	392			$	—			$	—			$	51			$	5			$	21			$	469


	Origination Year																								Revolving loans amortized				Revolving loans converted to
December 31, 2024	2024				2023				2022				2021				2020				Prior				cost basis				term loans				Total
	(Dollars in thousands)
Commercial real estate loans:
Risk Rating:
Pass	$	307,984			$	419,547			$	1,216,126			$	1,066,694			$	828,493			$	2,170,119			$	197,991			$	37,704			$	6,244,658
Special Mention		1,075				4,910				36,505				21,478				17,056				104,201				3,937				1,287				190,449
Substandard		1,176				244				6,775				9,057				15,138				34,259				5,696				—				72,345
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Commercial real estate loans:	$	310,235			$	424,701			$	1,259,406			$	1,097,229			$	860,687			$	2,308,579			$	207,624			$	38,991			$	6,507,452
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	2,258			$	—			$	—			$	2,258

Construction loans:
Risk Rating:
Pass	$	7,717			$	315			$	8,050			$	—			$	—			$	—			$	—			$	—			$	16,082
Special Mention		—				—				—				—				—				—				—				—				—
Substandard		—				—				—				—				—				—				—				—				—
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Construction loans:	$	7,717			$	315			$	8,050			$	—			$	—			$	—			$	—			$	—			$	16,082
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

SBA loans:
Risk Rating:
Pass	$	33,531			$	16,064			$	46,393			$	47,810			$	23,733			$	92,012			$	—			$	—			$	259,543
Special Mention		—				—				—				1,337				4,716				1,830				—				—				7,883
Substandard		—				—				1,581				—				—				4,006				—				—				5,587
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total SBA loans:	$	33,531			$	16,064			$	47,974			$	49,147			$	28,449			$	97,848			$	—			$	—			$	273,013
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	165			$	—			$	—			$	165

SBA - PPP loans:
Risk Rating:
Pass	$	—			$	—			$	—			$	254			$	520			$	—			$	—			$	—			$	774
Special Mention		—				—				—				—				—				—				—				—				—
Substandard		—				—				—				—				—				—				—				—				—
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total SBA - PPP loans:	$	—			$	—			$	—			$	254			$	520			$	—			$	—			$	—			$	774
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial and industrial loans:
Risk Rating:
Pass	$	100,465			$	100,242			$	111,982			$	67,706			$	69,084			$	118,069			$	318,147			$	6,213			$	891,908
Special Mention		819				2,213				1,026				2,169				421				4,175				8,136				4,830				23,789
Substandard		—				3,029				523				11				—				—				1,997				3,921				9,481
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Commercial and industrial loans:	$	101,284			$	105,484			$	113,531			$	69,886			$	69,505			$	122,244			$	328,280			$	14,964			$	925,178
Current YTD Period: Gross charge-offs	$	—			$	—			$	300			$	—			$	—			$	1,186			$	—			$	495			$	1,981


	Origination Year																								Revolving loans amortized				Revolving loans converted to
December 31, 2024	2024				2023				2022				2021				2020				Prior				cost basis				term loans				Total
	(Dollars in thousands)
Dairy & livestock and agribusiness loans:
Risk Rating:
Pass	$	812			$	—			$	—			$	596			$	786			$	141			$	327,850			$	13			$	330,198
Special Mention		2,901				—				—				—				—				—				84,295				1,650				88,846
Substandard		—				—				—				—				—				60				—				800				860
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Dairy & livestock and agribusiness loans:	$	3,713			$	—			$	—			$	596			$	786			$	201			$	412,145			$	2,463			$	419,904
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Municipal lease finance receivables loans:
Risk Rating:
Pass	$	2,540			$	—			$	5,111			$	24,715			$	5,140			$	28,510			$	—			$	—			$	66,016
Special Mention		—				—				—				—				—				98				—				—				98
Substandard		—				—				—				—				—				—				—				—				—
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Municipal lease finance receivables loans:	$	2,540			$	—			$	5,111			$	24,715			$	5,140			$	28,608			$	—			$	—			$	66,114
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

SFR mortgage loans:
Risk Rating:
Pass	$	20,261			$	21,055			$	59,763			$	41,156			$	38,730			$	85,637			$	—			$	—			$	266,602
Special Mention		—				—				—				—				896				411				—				284				1,591
Substandard		—				—				—				—				—				979				—				—				979
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total SFR mortgage loans:	$	20,261			$	21,055			$	59,763			$	41,156			$	39,626			$	87,027			$	—			$	284			$	269,172
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Consumer and other loans:
Risk Rating:
Pass	$	7,242			$	3,043			$	1,521			$	1,850			$	142			$	624			$	42,035			$	1,855			$	58,312
Special Mention		—				—				—				130				—				—				4				—				134
Substandard		—				—				—				—				—				—				—				297				297
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Consumer and other loans:	$	7,242			$	3,043			$	1,521			$	1,980			$	142			$	624			$	42,039			$	2,152			$	58,743
Current YTD Period: Gross charge-offs	$	—			$	—			$	—			$	—			$	—			$	—			$	1			$	3			$	4

Total Loans, at amortized cost:
Risk Rating:
Pass	$	480,552			$	560,266			$	1,448,946			$	1,250,781			$	966,628			$	2,495,112			$	886,023			$	45,785			$	8,134,093
Special Mention		4,795				7,123				37,531				25,114				23,089				110,715				96,372				8,051				312,790
Substandard		1,176				3,273				8,879				9,068				15,138				39,304				7,693				5,018				89,549
Doubtful & Loss		—				—				—				—				—				—				—				—				—
Total Loans at amortized cost:	$	486,523			$	570,662			$	1,495,356			$	1,284,963			$	1,004,855			$	2,645,131			$	990,088			$	58,854			$	8,536,432
Current YTD Period: Gross charge-offs	$	—			$	—			$	300			$	—			$	—			$	3,609			$	1			$	498			$	4,408

Summary of Balance and Activity Related to Allowance for Loan Losses for Held-for-Investment Loans by Type

The following tables present the balance and activity related to the allowance for credit losses for held-for-investment loans by type for the periods presented.


	Three Months Ended June 30, 2025
	Ending Balance March 31, 2025				Charge-offs				Recoveries				(Recapture of) Provision for Credit Losses				Ending Balance June 30, 2025
	(Dollars in thousands)
Commercial real estate	$	65,302			$	—			$	—			$	(760	)		$	64,542
Construction		238				—				6				(4	)			240
SBA		2,608				(32	)			19				471				3,066
Commercial and industrial		6,118				(392	)			155				476				6,357
Dairy & livestock and agribusiness		2,824				—				—				(270	)			2,554
Municipal lease finance receivables		210				—				—				10				220
SFR mortgage		427				—				—				50				477
Consumer and other loans		525				(5	)			—				27				547
Total allowance for credit losses	$	78,252			$	(429	)		$	180			$	—			$	78,003


	Three Months Ended June 30, 2024
	Ending Balance March 31, 2024				Charge-offs				Recoveries				Provision for (Recapture of) Credit Losses				Ending Balance June 30, 2024
	(Dollars in thousands)
Commercial real estate	$	69,445			$	—			$	—			$	(40	)		$	69,405
Construction		1,296				—				2				(510	)			788
SBA		2,531				(49	)			18				(4	)			2,496
Commercial and industrial		5,059				—				—				44				5,103
Dairy & livestock and agribusiness		3,252				—				—				523				3,775
Municipal lease finance receivables		194				—				—				(8	)			186
SFR mortgage		483				—				—				15				498
Consumer and other loans		557				(2	)			—				(20	)			535
Total allowance for credit losses	$	82,817			$	(51	)		$	20			$	—			$	82,786


	Six Months Ended June 30, 2025
	Ending Balance December 31, 2024				Charge-offs				Recoveries				(Recapture of) Provision for Credit Losses				Ending Balance June 30, 2025
	(Dollars in thousands)
Commercial real estate	$	66,237			$	—			$	—			$	(1,695	)		$	64,542
Construction		312				—				12				(84	)			240
SBA		2,629				(51	)			41				447				3,066
Commercial and industrial		6,093				(413	)			297				380				6,357
Dairy & livestock and agribusiness		3,610				—				—				(1,056	)			2,554
Municipal lease finance receivables		205				—				—				15				220
SFR mortgage		424				—				—				53				477
Consumer and other loans		612				(5	)			—				(60	)			547
Total allowance for credit losses	$	80,122			$	(469	)		$	350			$	(2,000	)		$	78,003


	Six Months Ended June 30, 2024
	Ending Balance December 31, 2023				Charge-offs				Recoveries				Provision for (Recapture of) Credit Losses				Ending Balance June 30, 2024
	(Dollars in thousands)
Commercial real estate	$	69,466			$	(2,258	)		$	—			$	2,197			$	69,405
Construction		1,277				—				5				(494	)			788
SBA		2,679				(139	)			81				(125	)			2,496
Commercial and industrial		9,116				(1,917	)			176				(2,272	)			5,103
Dairy & livestock and agribusiness		3,098				—				—				677				3,775
Municipal lease finance receivables		210				—				—				(24	)			186
SFR mortgage		535				—				—				(37	)			498
Consumer and other loans		461				(4	)			—				78				535
Total allowance for credit losses	$	86,842			$	(4,318	)		$	262			$	—			$	82,786

Summary of Recorded Investment in, and Aging of, Past Due and Nonaccrual Loans, Excluding PCI Loans by Class of Loans

The following table presents the recorded investment in, and the aging of, past due loans (including nonaccrual loans), by type of loans as of the dates presented.


	June 30, 2025
	30-59 Days Past Due				60-89 Days Past Due				Greater than 89 Days Past Due				Total Past Due				Current				Total Loans and Financing Receivables
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	—			$	—			$	—			$	—			$	2,289,898			$	2,289,898
Non-owner occupied		—				—				23,707				23,707				4,203,810				4,227,517
Construction
Speculative (1)		—				—				—				—				9,261				9,261
Non-speculative		—				—				—				—				8,397				8,397
SBA		3,419				—				651				4,070				267,665				271,735
SBA - PPP		—				—				—				—				85				85
Commercial and industrial		—				—				105				105				912,322				912,427
Dairy & livestock and agribusiness		—				—				60				60				233,712				233,772
Municipal lease finance receivables		—				—				—				—				63,652				63,652
SFR mortgage		—				—				—				—				288,435				288,435
Consumer and other loans		—				—				—				—				53,322				53,322
Total loans at amortized cost	$	3,419			$	—			$	24,523			$	27,942			$	8,330,559			$	8,358,501

(1)

Speculative construction loans are generally for properties where there is no identified buyer or renter.


	December 31, 2024
	30-59 Days Past Due				60-89 Days Past Due				Greater than 89 Days Past Due				Total Past Due				Current				Total Loans and Financing Receivables
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	—			$	—			$	196			$	196			$	2,329,380			$	2,329,576
Non-owner occupied		—				—				24,430				24,430				4,153,446				4,177,876
Construction
Speculative (1)		—				—				—				—				8,091				8,091
Non-speculative		—				—				—				—				7,991				7,991
SBA		—				190				1,427				1,617				271,396				273,013
SBA - PPP		—				—				—				—				774				774
Commercial and industrial		399				—				140				539				924,639				925,178
Dairy & livestock and agribusiness		—				—				60				60				419,844				419,904
Municipal lease finance receivables		—				—				—				—				66,114				66,114
SFR mortgage		—				—				—				—				269,172				269,172
Consumer and other loans		—				—				—				—				58,743				58,743
Total loans at amortized cost	$	399			$	190			$	26,253			$	26,842			$	8,509,590			$	8,536,432

(1)

Speculative construction loans are generally for properties where there is no identified buyer or renter.

Amortized cost of our finance receivables and loans that are on nonaccrual status, including loans with no allowance are presented as of June 30, 2025 and December 31, 2024 by type of loan.


	June 30, 2025
	Nonaccrual with No Allowance for Credit Losses				Total Nonaccrual (1) (2)				Loans Past Due Over 89 Days Still Accruing
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	672			$	672			$	—
Non-owner occupied		23,707				23,707				—
SBA		645				1,265				—
SBA - PPP		—				—				—
Commercial and industrial		161				265				—
Dairy & livestock and agribusiness		60				60				—
Total loans at amortized cost	$	25,245			$	25,969			$	—

(1)

As of June 30, 2025, $1.4 million of nonaccruing loans were current, $24.5 million were 90+ days past due.

(2)

Excludes $3,000 of guaranteed portion of nonaccrual SBA loans that are in process of collection.


	December 31, 2024
	Nonaccrual with No Allowance for Credit Losses				Total Nonaccrual (1)				Loans Past Due Over 89 Days Still Accruing
	(Dollars in thousands)
Commercial real estate
Owner occupied	$	1,436			$	1,436			$	—
Non-owner occupied		24,430				24,430				—
SBA		1,146				1,529				—
SBA - PPP		—				—				—
Commercial and industrial		201				340				—
Dairy & livestock and agribusiness		60				60				—
Total loans at amortized cost	$	27,273			$	27,795			$	—

(1)

As of December 31, 2024, $1.4 million of nonaccruing loans were current, $102,000 were 60-89 days past due, and $26.3 million were 90+ days past due.

(2)

Speculative construction loans are generally for properties where there is no identified buyer or renter.

Summary of Pledged Assets not Separately Reported on Statement of Financial Position

The following table presents the recorded investment in collateral-dependent loans by type of loans as of the date presented.


	June 30, 2025												Number of Loans
	Real Estate				Business Assets				Other				Dependent on Collateral
	(Dollars in thousands)
Commercial real estate	$	4,815			$	—			$	—				2
SBA		1,265				—				—				3
Commercial and industrial		—				161				103				3
Dairy & livestock and agribusiness		60				—				—				1
Total collateral-dependent loans	$	6,140			$	161			$	103				9


	December 31, 2024												Number of Loans
	Real Estate				Business Assets				Other				Dependent on Collateral
	(Dollars in thousands)
Commercial real estate	$	25,866			$	—			$	—				6
SBA		1,529				—				—				5
Commercial and industrial		11				327				—				3
Dairy & livestock and agribusiness		60				—				—				1
Total collateral-dependent loans	$	27,466			$	327			$	—				15

Summary of Amortized Cost of Loans Activity

The tables below reflect the amortized cost of loans by type made to borrowers experiencing financial difficulty that were modified as of June 30, 2025 and December 31, 2024.


		Amortized Cost Basis				% of Total Class of Financing Receivables				Financial Effect
June 30, 2025
Term Extension
Commercial real estate loans		$	7,193				0.09	%		Added a weighted-average 1.9 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Commercial and industrial			481				0.01	%		Added a weighted-average 1.2 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Dairy & livestock and agribusiness			395				0.00	%		Added a weighted-average 1.6 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Total		$	8,069

Term Extension and Interest Rate Reduction
Commercial real estate loans			677				0.01	%		Added a weighted-average 7.6 years to the life of loans, which reduced monthly payment amounts for the borrowers; reduced weighted-average contractual interest rate from 10.00% to 7.25%.
Commercial and industrial			783				0.01	%		Added a weighted-average 1.1 years to the life of loans, which reduced monthly payment amounts for the borrowers; reduced weighted-average contractual interest rate from 8.50% to 7.75%.
Total			1,460
Total Modified		$	9,529

The following table describes the financial effect of the loan modifications made to borrowers experiencing financial difficulty during the three months ended June 30, 2025.


		Amortized Cost Basis				% of Total Class of Financing Receivables				Financial Effect
December 31, 2024
Term Extension
Commercial real estate loans		$	2,180				0.03	%		Added a weighted-average 1.7 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Commercial and industrial			2,804				0.03	%		Added a weighted-average 1.2 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Dairy & livestock and agribusiness			800				0.01	%		Added a weighted-average 0.9 years to the life of loans, which reduced monthly payment amounts for the borrowers.
Total		$	5,784

Term Extension and Interest Rate Reduction
Commercial real estate loans		$	683				0.01	%		Added a weighted-average 7.6 years to the life of loans, which reduced monthly payment amounts for the borrowers; reduced weighted-average contractual interest rate from 10.00% to 7.25%.
Total			683
Total Modified		$	6,467

Summary of Recorded Investments or Past Due Loans At Amortized Cost

The following table presents the recorded investment in, and the aging of, past due loans at amortized cost (including nonaccrual loans), by type of loans, made to borrowers experiencing financial difficulty as of June 30, 2025.


			Payment Status (amortized cost basis)
			Current				30-89 Days Past Due				90+ Days Past Due
			(Dollars in thousands)
	Commercial real estate loans		$	7,870			$	—			$	—
	Commercial and industrial			1,264				—				—
	Dairy & livestock and agribusiness			395				—				—
	Total		$	9,529			$	—			$	—