LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
|
12 Months Ended |
Dec. 31, 2025 |
|---|
| Receivables [Abstract] |
|
| Schedule of Outstanding Balance of Loans |
The following table reconciles the outstanding balance of loans at December 31, 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Net loan balance |
|
$ |
4,216,011 |
|
|
$ |
3,504,218 |
|
Loan origination fees and expenses |
|
|
(2,964 |
) |
|
|
(848 |
) |
Merger fair value adjustments |
|
|
(16,396 |
) |
|
|
(6,300 |
) |
Hedge fair market value adjustments |
|
|
(1,129 |
) |
|
|
(1,658 |
) |
Purchased premium and discounts |
|
|
2,658 |
|
|
|
5,404 |
|
Total |
|
$ |
4,198,180 |
|
|
$ |
3,500,816 |
|
|
| Categories of Loans |
The following table lists categories of loans at December 31, 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
Commercial real estate |
|
$ |
2,226,348 |
|
|
$ |
1,830,514 |
|
Commercial and industrial |
|
|
816,885 |
|
|
|
658,865 |
|
Residential real estate |
|
|
582,145 |
|
|
|
566,766 |
|
Agricultural real estate |
|
|
278,927 |
|
|
|
267,248 |
|
Agricultural |
|
|
188,475 |
|
|
|
87,339 |
|
Consumer |
|
|
105,400 |
|
|
|
90,084 |
|
Total loans |
|
|
4,198,180 |
|
|
|
3,500,816 |
|
Allowance for credit losses |
|
|
(52,756 |
) |
|
|
(43,267 |
) |
Net loans |
|
$ |
4,145,424 |
|
|
$ |
3,457,549 |
|
|
| Schedule of Allowance for Loan Losses by Portfolio Segment Allowance |
The following tables present the activity in the allowance for credit losses by class for the years ended December 31, 2025, 2024, and 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
14,948 |
|
|
$ |
14,005 |
|
|
$ |
8,553 |
|
|
$ |
3,504 |
|
|
$ |
439 |
|
|
$ |
1,818 |
|
|
$ |
43,267 |
|
Provision (reversal) for credit losses |
|
|
3,092 |
|
|
|
4,946 |
|
|
|
(521 |
) |
|
|
722 |
|
|
|
(606 |
) |
|
|
1,320 |
|
|
|
8,953 |
|
Initial PCD on Acquired loans |
|
|
1,857 |
|
|
|
212 |
|
|
|
25 |
|
|
|
408 |
|
|
|
574 |
|
|
|
— |
|
|
|
3,076 |
|
Loans charged-off |
|
|
(953 |
) |
|
|
(2,088 |
) |
|
|
(149 |
) |
|
|
(58 |
) |
|
|
(131 |
) |
|
|
(1,611 |
) |
|
|
(4,990 |
) |
Recoveries |
|
|
1,093 |
|
|
|
755 |
|
|
|
160 |
|
|
|
93 |
|
|
|
61 |
|
|
|
288 |
|
|
|
2,450 |
|
Total ending allowance balance |
|
$ |
20,037 |
|
|
$ |
17,830 |
|
|
$ |
8,068 |
|
|
$ |
4,669 |
|
|
$ |
337 |
|
|
$ |
1,815 |
|
|
$ |
52,756 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
13,476 |
|
|
$ |
17,954 |
|
|
$ |
7,784 |
|
|
$ |
1,718 |
|
|
$ |
995 |
|
|
$ |
1,593 |
|
|
$ |
43,520 |
|
Provision (reversal) for credit losses |
|
|
1,525 |
|
|
|
(1,290 |
) |
|
|
681 |
|
|
|
1,464 |
|
|
|
(859 |
) |
|
|
1,025 |
|
|
|
2,546 |
|
Initial PCD on Acquired loans |
|
|
— |
|
|
|
128 |
|
|
|
227 |
|
|
|
330 |
|
|
|
306 |
|
|
|
9 |
|
|
|
1,000 |
|
Loans charged-off |
|
|
(97 |
) |
|
|
(3,185 |
) |
|
|
(183 |
) |
|
|
(100 |
) |
|
|
(28 |
) |
|
|
(1,023 |
) |
|
|
(4,616 |
) |
Recoveries |
|
|
44 |
|
|
|
398 |
|
|
|
44 |
|
|
|
92 |
|
|
|
25 |
|
|
|
214 |
|
|
|
817 |
|
Total ending allowance balance |
|
$ |
14,948 |
|
|
$ |
14,005 |
|
|
$ |
8,553 |
|
|
$ |
3,504 |
|
|
$ |
439 |
|
|
$ |
1,818 |
|
|
$ |
43,267 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2023 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for loan losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
16,731 |
|
|
$ |
14,951 |
|
|
$ |
8,608 |
|
|
$ |
819 |
|
|
$ |
2,457 |
|
|
$ |
2,281 |
|
|
$ |
45,847 |
|
Provision (reversal) for credit losses |
|
|
(3,330 |
) |
|
|
6,703 |
|
|
|
(806 |
) |
|
|
945 |
|
|
|
(1,509 |
) |
|
|
(130 |
) |
|
|
1,873 |
|
Loans charged-off |
|
|
(20 |
) |
|
|
(3,791 |
) |
|
|
(80 |
) |
|
|
(54 |
) |
|
|
(108 |
) |
|
|
(901 |
) |
|
|
(4,954 |
) |
Recoveries |
|
|
95 |
|
|
|
91 |
|
|
|
62 |
|
|
|
8 |
|
|
|
155 |
|
|
|
343 |
|
|
|
754 |
|
Total ending allowance balance |
|
$ |
13,476 |
|
|
$ |
17,954 |
|
|
$ |
7,784 |
|
|
$ |
1,718 |
|
|
$ |
995 |
|
|
$ |
1,593 |
|
|
$ |
43,520 |
|
|
| Schedule of Loans Evaluated for Impairment |
The following tables present the recorded investment in loans and the balance in the allowance for credit losses by portfolio and class based on impairment method as of December 31, 2025, and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
2,599 |
|
|
$ |
2,341 |
|
|
$ |
910 |
|
|
$ |
342 |
|
|
$ |
186 |
|
|
$ |
171 |
|
|
$ |
6,549 |
|
Collectively evaluated for credit losses |
|
|
17,438 |
|
|
|
15,489 |
|
|
|
7,158 |
|
|
|
4,327 |
|
|
|
151 |
|
|
|
1,644 |
|
|
|
46,207 |
|
Total |
|
$ |
20,037 |
|
|
$ |
17,830 |
|
|
$ |
8,068 |
|
|
$ |
4,669 |
|
|
$ |
337 |
|
|
$ |
1,815 |
|
|
$ |
52,756 |
|
Loan Balance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
18,171 |
|
|
$ |
21,905 |
|
|
$ |
4,664 |
|
|
$ |
2,886 |
|
|
$ |
3,928 |
|
|
$ |
770 |
|
|
$ |
52,324 |
|
Collectively evaluated for credit losses |
|
|
2,208,177 |
|
|
|
794,980 |
|
|
|
577,481 |
|
|
|
276,041 |
|
|
|
184,547 |
|
|
|
104,630 |
|
|
|
4,145,856 |
|
Total |
|
$ |
2,226,348 |
|
|
$ |
816,885 |
|
|
$ |
582,145 |
|
|
$ |
278,927 |
|
|
$ |
188,475 |
|
|
$ |
105,400 |
|
|
$ |
4,198,180 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
1,053 |
|
|
$ |
1,618 |
|
|
$ |
1,167 |
|
|
$ |
701 |
|
|
$ |
147 |
|
|
$ |
201 |
|
|
$ |
4,887 |
|
Collectively evaluated for credit losses |
|
|
13,895 |
|
|
|
12,387 |
|
|
|
7,386 |
|
|
|
2,803 |
|
|
|
292 |
|
|
|
1,617 |
|
|
|
38,380 |
|
Total |
|
$ |
14,948 |
|
|
$ |
14,005 |
|
|
$ |
8,553 |
|
|
$ |
3,504 |
|
|
$ |
439 |
|
|
$ |
1,818 |
|
|
$ |
43,267 |
|
Loan Balance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
7,854 |
|
|
$ |
8,593 |
|
|
$ |
4,996 |
|
|
$ |
5,839 |
|
|
$ |
1,740 |
|
|
$ |
871 |
|
|
$ |
29,893 |
|
Collectively evaluated for credit losses |
|
|
1,822,660 |
|
|
|
650,272 |
|
|
|
561,770 |
|
|
|
261,409 |
|
|
|
85,599 |
|
|
|
89,213 |
|
|
|
3,470,923 |
|
Total |
|
$ |
1,830,514 |
|
|
$ |
658,865 |
|
|
$ |
566,766 |
|
|
$ |
267,248 |
|
|
$ |
87,339 |
|
|
$ |
90,084 |
|
|
$ |
3,500,816 |
|
|
| Non-Accrual Loans, Segregated by Class of Loans |
The following table presents information related to non-accrual loans at December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment |
|
|
Allowance for
Credit Losses
Allocated |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
3,795 |
|
|
$ |
3,734 |
|
|
$ |
— |
|
|
$ |
3,470 |
|
|
$ |
66 |
|
Commercial and industrial |
|
|
2,146 |
|
|
|
707 |
|
|
|
— |
|
|
|
6,995 |
|
|
|
5 |
|
Residential real estate |
|
|
610 |
|
|
|
552 |
|
|
|
— |
|
|
|
110 |
|
|
|
31 |
|
Agricultural real estate |
|
|
297 |
|
|
|
— |
|
|
|
— |
|
|
|
1,583 |
|
|
|
2 |
|
Agricultural |
|
|
1,624 |
|
|
|
1,291 |
|
|
|
— |
|
|
|
774 |
|
|
|
— |
|
Consumer |
|
|
14 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Subtotal |
|
|
8,486 |
|
|
|
6,284 |
|
|
|
— |
|
|
|
12,932 |
|
|
|
104 |
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
|
7,461 |
|
|
|
6,758 |
|
|
|
1,639 |
|
|
|
6,821 |
|
|
|
182 |
|
Commercial and industrial |
|
|
24,794 |
|
|
|
20,820 |
|
|
|
2,303 |
|
|
|
9,584 |
|
|
|
289 |
|
Residential real estate |
|
|
3,975 |
|
|
|
3,704 |
|
|
|
875 |
|
|
|
4,103 |
|
|
|
66 |
|
Agricultural real estate |
|
|
1,694 |
|
|
|
1,167 |
|
|
|
262 |
|
|
|
1,747 |
|
|
|
5 |
|
Agricultural |
|
|
897 |
|
|
|
862 |
|
|
|
124 |
|
|
|
609 |
|
|
|
11 |
|
Consumer |
|
|
719 |
|
|
|
681 |
|
|
|
162 |
|
|
|
753 |
|
|
|
19 |
|
Subtotal |
|
|
39,540 |
|
|
|
33,992 |
|
|
|
5,365 |
|
|
|
23,617 |
|
|
|
572 |
|
Total |
|
$ |
48,026 |
|
|
$ |
40,276 |
|
|
$ |
5,365 |
|
|
$ |
36,549 |
|
|
$ |
676 |
|
The above table presents interest income for the twelve months ended December 31, 2025. Interest income recognized in the above table was substantially recognized on the cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality. The following table presents information related to non-accrual loans at December 31, 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment |
|
|
Allowance for
Credit Losses
Allocated |
|
|
Average
Recorded
Investment |
|
|
Interest
Income
Recognized |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
3,068 |
|
|
$ |
3,068 |
|
|
$ |
— |
|
|
$ |
3,542 |
|
|
$ |
104 |
|
Commercial and industrial |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
398 |
|
|
|
— |
|
Residential real estate |
|
|
19 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
Agricultural real estate |
|
|
2,490 |
|
|
|
2,014 |
|
|
|
— |
|
|
|
2,009 |
|
|
|
140 |
|
Agricultural |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
109 |
|
|
|
— |
|
Consumer |
|
|
31 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Subtotal |
|
|
5,608 |
|
|
|
5,082 |
|
|
|
— |
|
|
|
6,058 |
|
|
|
245 |
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
|
4,719 |
|
|
|
4,390 |
|
|
|
1,015 |
|
|
|
3,382 |
|
|
|
105 |
|
Commercial and industrial |
|
|
12,424 |
|
|
|
7,798 |
|
|
|
1,482 |
|
|
|
6,760 |
|
|
|
164 |
|
Residential real estate |
|
|
5,260 |
|
|
|
4,670 |
|
|
|
1,145 |
|
|
|
5,011 |
|
|
|
40 |
|
Agricultural real estate |
|
|
5,594 |
|
|
|
3,737 |
|
|
|
697 |
|
|
|
3,520 |
|
|
|
10 |
|
Agricultural |
|
|
953 |
|
|
|
592 |
|
|
|
73 |
|
|
|
1,390 |
|
|
|
6 |
|
Consumer |
|
|
846 |
|
|
|
781 |
|
|
|
187 |
|
|
|
706 |
|
|
|
22 |
|
Subtotal |
|
|
29,796 |
|
|
|
21,968 |
|
|
|
4,599 |
|
|
|
20,769 |
|
|
|
347 |
|
Total |
|
$ |
35,404 |
|
|
$ |
27,050 |
|
|
$ |
4,599 |
|
|
$ |
26,827 |
|
|
$ |
592 |
|
|
| Summary of Non-Accrual Interest Income Written Off |
The following table presents the amount of non-accrual interest income written off for the twelve months ended December 31, 2025, 2024 and 2023.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
Commercial real estate |
|
$ |
217 |
|
|
$ |
227 |
|
|
$ |
115 |
|
Commercial and industrial |
|
|
910 |
|
|
|
405 |
|
|
|
309 |
|
Residential real estate |
|
|
60 |
|
|
|
55 |
|
|
|
277 |
|
Agricultural real estate |
|
|
83 |
|
|
|
203 |
|
|
|
6 |
|
Agricultural |
|
|
107 |
|
|
|
103 |
|
|
|
2 |
|
Consumer |
|
|
18 |
|
|
|
16 |
|
|
|
10 |
|
Total |
|
$ |
1,395 |
|
|
$ |
1,009 |
|
|
$ |
719 |
|
|
| Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans |
The following tables present the aging of the recorded investment in past due loans as of December 31, 2025 and 2024, by portfolio and class of loans.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
30 – 59
Days
Past Due |
|
|
60 – 89
Days
Past Due |
|
|
Greater Than
90 Days Past
Due Still On
Accrual |
|
|
Non-accrual |
|
|
Loans Not
Past Due |
|
|
Total |
|
Commercial real estate |
|
$ |
4,411 |
|
|
$ |
3,121 |
|
|
$ |
— |
|
|
$ |
10,492 |
|
|
$ |
2,208,324 |
|
|
$ |
2,226,348 |
|
Commercial and industrial |
|
|
3,830 |
|
|
|
1,655 |
|
|
|
1,146 |
|
|
|
21,527 |
|
|
|
788,727 |
|
|
|
816,885 |
|
Residential real estate |
|
|
3,825 |
|
|
|
842 |
|
|
|
164 |
|
|
|
4,256 |
|
|
|
573,058 |
|
|
|
582,145 |
|
Agricultural real estate |
|
|
1,194 |
|
|
|
480 |
|
|
|
— |
|
|
|
1,167 |
|
|
|
276,086 |
|
|
|
278,927 |
|
Agricultural |
|
|
715 |
|
|
|
656 |
|
|
|
1,300 |
|
|
|
2,153 |
|
|
|
183,651 |
|
|
|
188,475 |
|
Consumer |
|
|
353 |
|
|
|
95 |
|
|
|
— |
|
|
|
681 |
|
|
|
104,271 |
|
|
|
105,400 |
|
Total |
|
$ |
14,328 |
|
|
$ |
6,849 |
|
|
$ |
2,610 |
|
|
$ |
40,276 |
|
|
$ |
4,134,117 |
|
|
$ |
4,198,180 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
30 – 59
Days
Past Due |
|
|
60 – 89
Days
Past Due |
|
|
Greater Than
90 Days Past
Due Still On
Accrual |
|
|
Non-accrual |
|
|
Loans Not
Past Due |
|
|
Total |
|
Commercial real estate |
|
$ |
3,502 |
|
|
$ |
2,030 |
|
|
$ |
156 |
|
|
$ |
7,458 |
|
|
$ |
1,817,368 |
|
|
$ |
1,830,514 |
|
Commercial and industrial |
|
|
1,314 |
|
|
|
644 |
|
|
|
25 |
|
|
|
7,798 |
|
|
|
649,084 |
|
|
|
658,865 |
|
Residential real estate |
|
|
2,396 |
|
|
|
634 |
|
|
|
— |
|
|
|
4,670 |
|
|
|
559,066 |
|
|
|
566,766 |
|
Agricultural real estate |
|
|
457 |
|
|
|
312 |
|
|
|
— |
|
|
|
5,751 |
|
|
|
260,728 |
|
|
|
267,248 |
|
Agricultural |
|
|
411 |
|
|
|
80 |
|
|
|
— |
|
|
|
592 |
|
|
|
86,256 |
|
|
|
87,339 |
|
Consumer |
|
|
666 |
|
|
|
196 |
|
|
|
— |
|
|
|
781 |
|
|
|
88,441 |
|
|
|
90,084 |
|
Total |
|
$ |
8,746 |
|
|
$ |
3,896 |
|
|
$ |
181 |
|
|
$ |
27,050 |
|
|
$ |
3,460,943 |
|
|
$ |
3,500,816 |
|
|
| Off Balance Sheet Credit Exposure |
The following table lists allowance for credit losses on off-balance sheet credit exposures as of December 31, 2025 and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
December 31, 2024 |
|
|
December 31, 2023 |
|
Commercial real estate |
|
$ |
272 |
|
|
$ |
188 |
|
|
$ |
285 |
|
Commercial and industrial |
|
|
1,409 |
|
|
|
1,170 |
|
|
|
1,053 |
|
Residential real estate |
|
|
47 |
|
|
|
69 |
|
|
|
35 |
|
Agricultural real estate |
|
|
4 |
|
|
|
1 |
|
|
|
2 |
|
Agricultural |
|
|
— |
|
|
|
12 |
|
|
|
3 |
|
Consumer |
|
|
21 |
|
|
|
2 |
|
|
|
247 |
|
Total |
|
$ |
1,753 |
|
|
$ |
1,442 |
|
|
$ |
1,625 |
|
|
| Summary of Risk Category of Loans by Class of Loans |
Based on the most recent analysis performed, the risk category of loans by type and year of origination, at December 31, 2025, is as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
Prior |
|
|
Revolving Loans Amortized Cost |
|
|
Revolving Loans Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
429,259 |
|
|
$ |
319,227 |
|
|
$ |
162,815 |
|
|
$ |
256,817 |
|
|
$ |
162,737 |
|
|
$ |
258,510 |
|
|
$ |
614,449 |
|
|
$ |
999 |
|
|
$ |
2,204,813 |
|
Special Mention |
|
|
— |
|
|
|
115 |
|
|
|
— |
|
|
|
73 |
|
|
|
— |
|
|
|
— |
|
|
|
667 |
|
|
|
— |
|
|
|
855 |
|
Substandard |
|
|
4,739 |
|
|
|
2,329 |
|
|
|
1,376 |
|
|
|
3,839 |
|
|
|
1,148 |
|
|
|
3,211 |
|
|
|
4,038 |
|
|
|
— |
|
|
|
20,680 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial real estate |
|
$ |
433,998 |
|
|
$ |
321,671 |
|
|
$ |
164,191 |
|
|
$ |
260,729 |
|
|
$ |
163,885 |
|
|
$ |
261,721 |
|
|
$ |
619,154 |
|
|
$ |
999 |
|
|
$ |
2,226,348 |
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
192,904 |
|
|
$ |
120,288 |
|
|
$ |
43,779 |
|
|
$ |
48,264 |
|
|
$ |
33,804 |
|
|
$ |
25,293 |
|
|
$ |
304,608 |
|
|
$ |
849 |
|
|
$ |
769,789 |
|
Special Mention |
|
|
— |
|
|
|
93 |
|
|
|
16,865 |
|
|
|
147 |
|
|
|
10 |
|
|
|
336 |
|
|
|
129 |
|
|
|
— |
|
|
|
17,580 |
|
Substandard |
|
|
319 |
|
|
|
16,822 |
|
|
|
7,547 |
|
|
|
1,144 |
|
|
|
215 |
|
|
|
1,832 |
|
|
|
1,637 |
|
|
|
— |
|
|
|
29,516 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial and industrial |
|
$ |
193,223 |
|
|
$ |
137,203 |
|
|
$ |
68,191 |
|
|
$ |
49,555 |
|
|
$ |
34,029 |
|
|
$ |
27,461 |
|
|
$ |
306,374 |
|
|
$ |
849 |
|
|
$ |
816,885 |
|
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
49,089 |
|
|
$ |
17,591 |
|
|
$ |
30,673 |
|
|
$ |
36,518 |
|
|
$ |
242,578 |
|
|
$ |
121,963 |
|
|
$ |
78,442 |
|
|
$ |
379 |
|
|
$ |
577,233 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
277 |
|
|
|
— |
|
|
|
— |
|
|
|
277 |
|
Substandard |
|
|
17 |
|
|
|
104 |
|
|
|
1,265 |
|
|
|
553 |
|
|
|
217 |
|
|
|
2,213 |
|
|
|
221 |
|
|
|
45 |
|
|
|
4,635 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total residential real estate |
|
$ |
49,106 |
|
|
$ |
17,695 |
|
|
$ |
31,938 |
|
|
$ |
37,071 |
|
|
$ |
242,795 |
|
|
$ |
124,453 |
|
|
$ |
78,663 |
|
|
$ |
424 |
|
|
$ |
582,145 |
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
65,295 |
|
|
$ |
43,928 |
|
|
$ |
19,536 |
|
|
$ |
16,115 |
|
|
$ |
10,270 |
|
|
$ |
49,537 |
|
|
$ |
70,113 |
|
|
$ |
270 |
|
|
$ |
275,064 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
129 |
|
|
|
— |
|
|
|
— |
|
|
|
129 |
|
Substandard |
|
|
— |
|
|
|
— |
|
|
|
2,146 |
|
|
|
78 |
|
|
|
407 |
|
|
|
1,103 |
|
|
|
— |
|
|
|
— |
|
|
|
3,734 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural real estate |
|
$ |
65,295 |
|
|
$ |
43,928 |
|
|
$ |
21,682 |
|
|
$ |
16,193 |
|
|
$ |
10,677 |
|
|
$ |
50,769 |
|
|
$ |
70,113 |
|
|
$ |
270 |
|
|
$ |
278,927 |
|
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
27,452 |
|
|
$ |
20,798 |
|
|
$ |
4,886 |
|
|
$ |
1,649 |
|
|
$ |
1,506 |
|
|
$ |
2,618 |
|
|
$ |
127,847 |
|
|
$ |
224 |
|
|
$ |
186,980 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
32 |
|
|
|
— |
|
|
|
— |
|
|
|
33 |
|
Substandard |
|
|
56 |
|
|
|
87 |
|
|
|
143 |
|
|
|
130 |
|
|
|
17 |
|
|
|
663 |
|
|
|
366 |
|
|
|
— |
|
|
|
1,462 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural |
|
$ |
27,508 |
|
|
$ |
20,885 |
|
|
$ |
5,030 |
|
|
$ |
1,779 |
|
|
$ |
1,523 |
|
|
$ |
3,313 |
|
|
$ |
128,213 |
|
|
$ |
224 |
|
|
$ |
188,475 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
37,830 |
|
|
$ |
8,889 |
|
|
$ |
9,933 |
|
|
$ |
7,213 |
|
|
$ |
3,326 |
|
|
$ |
3,485 |
|
|
$ |
34,044 |
|
|
$ |
— |
|
|
$ |
104,720 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Substandard |
|
|
17 |
|
|
|
61 |
|
|
|
216 |
|
|
|
223 |
|
|
|
119 |
|
|
|
44 |
|
|
|
— |
|
|
|
— |
|
|
|
680 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total consumer |
|
$ |
37,847 |
|
|
$ |
8,950 |
|
|
$ |
10,149 |
|
|
$ |
7,436 |
|
|
$ |
3,445 |
|
|
$ |
3,529 |
|
|
$ |
34,044 |
|
|
$ |
— |
|
|
$ |
105,400 |
|
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
801,829 |
|
|
$ |
530,721 |
|
|
$ |
271,622 |
|
|
$ |
366,576 |
|
|
$ |
454,221 |
|
|
$ |
461,406 |
|
|
$ |
1,229,503 |
|
|
$ |
2,721 |
|
|
$ |
4,118,599 |
|
Special Mention |
|
|
— |
|
|
|
208 |
|
|
|
16,866 |
|
|
|
220 |
|
|
|
10 |
|
|
|
774 |
|
|
|
796 |
|
|
|
— |
|
|
|
18,874 |
|
Substandard |
|
|
5,148 |
|
|
|
19,403 |
|
|
|
12,693 |
|
|
|
5,967 |
|
|
|
2,123 |
|
|
|
9,066 |
|
|
|
6,262 |
|
|
|
45 |
|
|
|
60,707 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total loans |
|
$ |
806,977 |
|
|
$ |
550,332 |
|
|
$ |
301,181 |
|
|
$ |
372,763 |
|
|
$ |
456,354 |
|
|
$ |
471,246 |
|
|
$ |
1,236,561 |
|
|
$ |
2,766 |
|
|
$ |
4,198,180 |
|
The risk category of loans by type and year of origination, at December 31, 2024, is as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
Prior |
|
|
Revolving Loans Amortized Cost |
|
|
Revolving Loans Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
332,078 |
|
|
$ |
191,947 |
|
|
$ |
337,048 |
|
|
$ |
162,180 |
|
|
$ |
148,732 |
|
|
$ |
166,614 |
|
|
$ |
474,324 |
|
|
$ |
855 |
|
|
$ |
1,813,778 |
|
Special Mention |
|
|
331 |
|
|
|
— |
|
|
|
103 |
|
|
|
— |
|
|
|
— |
|
|
|
378 |
|
|
|
497 |
|
|
|
— |
|
|
|
1,309 |
|
Substandard |
|
|
795 |
|
|
|
459 |
|
|
|
3,693 |
|
|
|
3,499 |
|
|
|
365 |
|
|
|
6,277 |
|
|
|
339 |
|
|
|
— |
|
|
|
15,427 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial real estate |
|
$ |
333,204 |
|
|
$ |
192,406 |
|
|
$ |
340,844 |
|
|
$ |
165,679 |
|
|
$ |
149,097 |
|
|
$ |
173,269 |
|
|
$ |
475,160 |
|
|
$ |
855 |
|
|
$ |
1,830,514 |
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
114,421 |
|
|
$ |
78,335 |
|
|
$ |
69,294 |
|
|
$ |
32,227 |
|
|
$ |
53,119 |
|
|
$ |
16,902 |
|
|
$ |
261,227 |
|
|
$ |
994 |
|
|
$ |
626,519 |
|
Special Mention |
|
|
121 |
|
|
|
— |
|
|
|
160 |
|
|
|
18 |
|
|
|
— |
|
|
|
870 |
|
|
|
131 |
|
|
|
— |
|
|
|
1,300 |
|
Substandard |
|
|
8,256 |
|
|
|
8,189 |
|
|
|
315 |
|
|
|
274 |
|
|
|
1,113 |
|
|
|
1,592 |
|
|
|
10,563 |
|
|
|
667 |
|
|
|
30,969 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
77 |
|
|
|
— |
|
|
|
— |
|
|
|
77 |
|
Total commercial and industrial |
|
$ |
122,798 |
|
|
$ |
86,524 |
|
|
$ |
69,769 |
|
|
$ |
32,519 |
|
|
$ |
54,232 |
|
|
$ |
19,441 |
|
|
$ |
271,921 |
|
|
$ |
1,661 |
|
|
$ |
658,865 |
|
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
25,981 |
|
|
$ |
33,933 |
|
|
$ |
35,687 |
|
|
$ |
260,180 |
|
|
$ |
7,622 |
|
|
$ |
130,242 |
|
|
$ |
66,981 |
|
|
$ |
572 |
|
|
$ |
561,198 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
300 |
|
|
|
72 |
|
|
|
— |
|
|
|
372 |
|
Substandard |
|
|
— |
|
|
|
195 |
|
|
|
253 |
|
|
|
403 |
|
|
|
123 |
|
|
|
3,370 |
|
|
|
807 |
|
|
|
45 |
|
|
|
5,196 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total residential real estate |
|
$ |
25,981 |
|
|
$ |
34,128 |
|
|
$ |
35,940 |
|
|
$ |
260,583 |
|
|
$ |
7,745 |
|
|
$ |
133,912 |
|
|
$ |
67,860 |
|
|
$ |
617 |
|
|
$ |
566,766 |
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
52,369 |
|
|
$ |
16,936 |
|
|
$ |
24,551 |
|
|
$ |
11,468 |
|
|
$ |
20,508 |
|
|
$ |
36,834 |
|
|
$ |
95,410 |
|
|
$ |
277 |
|
|
$ |
258,353 |
|
Special Mention |
|
|
1,541 |
|
|
|
— |
|
|
|
151 |
|
|
|
— |
|
|
|
— |
|
|
|
138 |
|
|
|
595 |
|
|
|
— |
|
|
|
2,425 |
|
Substandard |
|
|
— |
|
|
|
2,054 |
|
|
|
56 |
|
|
|
571 |
|
|
|
76 |
|
|
|
3,659 |
|
|
|
54 |
|
|
|
— |
|
|
|
6,470 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural real estate |
|
$ |
53,910 |
|
|
$ |
18,990 |
|
|
$ |
24,758 |
|
|
$ |
12,039 |
|
|
$ |
20,584 |
|
|
$ |
40,631 |
|
|
$ |
96,059 |
|
|
$ |
277 |
|
|
$ |
267,248 |
|
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
15,428 |
|
|
$ |
4,045 |
|
|
$ |
5,364 |
|
|
$ |
2,576 |
|
|
$ |
3,674 |
|
|
$ |
1,308 |
|
|
$ |
53,757 |
|
|
$ |
49 |
|
|
$ |
86,201 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
32 |
|
|
|
— |
|
|
|
— |
|
|
|
32 |
|
Substandard |
|
|
45 |
|
|
|
185 |
|
|
|
19 |
|
|
|
274 |
|
|
|
404 |
|
|
|
36 |
|
|
|
143 |
|
|
|
— |
|
|
|
1,106 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural |
|
$ |
15,473 |
|
|
$ |
4,230 |
|
|
$ |
5,383 |
|
|
$ |
2,850 |
|
|
$ |
4,078 |
|
|
$ |
1,376 |
|
|
$ |
53,900 |
|
|
$ |
49 |
|
|
$ |
87,339 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
35,412 |
|
|
$ |
17,503 |
|
|
$ |
14,157 |
|
|
$ |
5,765 |
|
|
$ |
2,732 |
|
|
$ |
2,724 |
|
|
$ |
11,007 |
|
|
$ |
— |
|
|
$ |
89,300 |
|
Special Mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Substandard |
|
|
13 |
|
|
|
234 |
|
|
|
289 |
|
|
|
170 |
|
|
|
43 |
|
|
|
35 |
|
|
|
— |
|
|
|
— |
|
|
|
784 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total consumer |
|
$ |
35,425 |
|
|
$ |
17,737 |
|
|
$ |
14,446 |
|
|
$ |
5,935 |
|
|
$ |
2,775 |
|
|
$ |
2,759 |
|
|
$ |
11,007 |
|
|
$ |
— |
|
|
$ |
90,084 |
|
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
575,689 |
|
|
$ |
342,699 |
|
|
$ |
486,101 |
|
|
$ |
474,396 |
|
|
$ |
236,387 |
|
|
$ |
354,624 |
|
|
$ |
962,706 |
|
|
$ |
2,747 |
|
|
$ |
3,435,349 |
|
Special Mention |
|
|
1,993 |
|
|
|
— |
|
|
|
414 |
|
|
|
18 |
|
|
|
— |
|
|
|
1,718 |
|
|
|
1,295 |
|
|
|
— |
|
|
|
5,438 |
|
Substandard |
|
|
9,109 |
|
|
|
11,316 |
|
|
|
4,625 |
|
|
|
5,191 |
|
|
|
2,124 |
|
|
|
14,969 |
|
|
|
11,906 |
|
|
|
712 |
|
|
|
59,952 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
77 |
|
|
|
— |
|
|
|
— |
|
|
|
77 |
|
Total loans |
|
$ |
586,791 |
|
|
$ |
354,015 |
|
|
$ |
491,140 |
|
|
$ |
479,605 |
|
|
$ |
238,511 |
|
|
$ |
371,388 |
|
|
$ |
975,907 |
|
|
$ |
3,459 |
|
|
$ |
3,500,816 |
|
|
| Schedule of Charge-off and Recovery Activity by Loan Type and Year of Origination |
The following table discloses the charge-off and recovery activity by loan type and year of origination at December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
Prior |
|
|
Revolving Loans Amortized Cost |
|
|
Revolving Loans Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(23 |
) |
|
$ |
(151 |
) |
|
$ |
(543 |
) |
|
$ |
(49 |
) |
|
$ |
(187 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(953 |
) |
Gross recoveries |
|
|
— |
|
|
|
3 |
|
|
|
— |
|
|
|
402 |
|
|
|
2 |
|
|
|
686 |
|
|
|
— |
|
|
|
— |
|
|
|
1,093 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(20 |
) |
|
$ |
(151 |
) |
|
$ |
(141 |
) |
|
$ |
(47 |
) |
|
$ |
499 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
140 |
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(23 |
) |
|
$ |
(98 |
) |
|
$ |
(393 |
) |
|
$ |
(63 |
) |
|
$ |
(97 |
) |
|
$ |
(1,355 |
) |
|
$ |
(59 |
) |
|
$ |
— |
|
|
$ |
(2,088 |
) |
Gross recoveries |
|
|
— |
|
|
|
2 |
|
|
|
48 |
|
|
|
104 |
|
|
|
88 |
|
|
|
394 |
|
|
|
119 |
|
|
|
— |
|
|
|
755 |
|
Net charge-offs |
|
$ |
(23 |
) |
|
$ |
(96 |
) |
|
$ |
(345 |
) |
|
$ |
41 |
|
|
$ |
(9 |
) |
|
$ |
(961 |
) |
|
$ |
60 |
|
|
$ |
— |
|
|
$ |
(1,333 |
) |
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(34 |
) |
|
$ |
— |
|
|
$ |
(112 |
) |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(149 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
55 |
|
|
|
— |
|
|
|
99 |
|
|
|
6 |
|
|
|
— |
|
|
|
160 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
21 |
|
|
$ |
— |
|
|
$ |
(13 |
) |
|
$ |
4 |
|
|
$ |
— |
|
|
$ |
11 |
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(18 |
) |
|
$ |
— |
|
|
$ |
(40 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(58 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
17 |
|
|
|
— |
|
|
|
76 |
|
|
|
— |
|
|
|
— |
|
|
|
93 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
36 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
35 |
|
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(12 |
) |
|
$ |
(15 |
) |
|
$ |
(3 |
) |
|
$ |
— |
|
|
$ |
(98 |
) |
|
$ |
(3 |
) |
|
$ |
— |
|
|
$ |
(131 |
) |
Gross recoveries |
|
|
— |
|
|
|
11 |
|
|
|
14 |
|
|
|
— |
|
|
|
1 |
|
|
|
35 |
|
|
|
— |
|
|
|
— |
|
|
|
61 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(1 |
) |
|
$ |
(3 |
) |
|
$ |
1 |
|
|
$ |
(63 |
) |
|
$ |
(3 |
) |
|
$ |
— |
|
|
$ |
(70 |
) |
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(293 |
) |
|
$ |
(179 |
) |
|
$ |
(282 |
) |
|
$ |
(369 |
) |
|
$ |
(97 |
) |
|
$ |
(310 |
) |
|
$ |
(81 |
) |
|
$ |
— |
|
|
$ |
(1,611 |
) |
Gross recoveries |
|
|
10 |
|
|
|
15 |
|
|
|
40 |
|
|
|
85 |
|
|
|
22 |
|
|
|
103 |
|
|
|
13 |
|
|
|
— |
|
|
|
288 |
|
Net charge-offs |
|
$ |
(283 |
) |
|
$ |
(164 |
) |
|
$ |
(242 |
) |
|
$ |
(284 |
) |
|
$ |
(75 |
) |
|
$ |
(207 |
) |
|
$ |
(68 |
) |
|
$ |
— |
|
|
$ |
(1,323 |
) |
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(316 |
) |
|
$ |
(312 |
) |
|
$ |
(842 |
) |
|
$ |
(1,030 |
) |
|
$ |
(243 |
) |
|
$ |
(2,102 |
) |
|
$ |
(145 |
) |
|
$ |
— |
|
|
$ |
(4,990 |
) |
Gross recoveries |
|
|
10 |
|
|
|
31 |
|
|
|
102 |
|
|
|
663 |
|
|
|
113 |
|
|
|
1,393 |
|
|
|
138 |
|
|
|
— |
|
|
|
2,450 |
|
Net charge-offs |
|
$ |
(306 |
) |
|
$ |
(281 |
) |
|
$ |
(740 |
) |
|
$ |
(367 |
) |
|
$ |
(130 |
) |
|
$ |
(709 |
) |
|
$ |
(7 |
) |
|
$ |
— |
|
|
$ |
(2,540 |
) |
The following table discloses the charge-off and recovery activity by loan type and year of origination at December 31, 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
2020 |
|
|
Prior |
|
|
Revolving Loans Amortized Cost |
|
|
Revolving Loans Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(17 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(80 |
) |
|
$ |
— |
|
|
$ |
(97 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
8 |
|
|
|
— |
|
|
|
1 |
|
|
|
34 |
|
|
|
1 |
|
|
|
— |
|
|
|
44 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(9 |
) |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
34 |
|
|
$ |
(79 |
) |
|
$ |
— |
|
|
$ |
(53 |
) |
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(31 |
) |
|
$ |
(360 |
) |
|
$ |
(176 |
) |
|
$ |
(486 |
) |
|
$ |
(839 |
) |
|
$ |
(1,293 |
) |
|
$ |
— |
|
|
$ |
(3,185 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
247 |
|
|
|
13 |
|
|
|
21 |
|
|
|
56 |
|
|
|
59 |
|
|
|
2 |
|
|
|
398 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(31 |
) |
|
$ |
(113 |
) |
|
$ |
(163 |
) |
|
$ |
(465 |
) |
|
$ |
(783 |
) |
|
$ |
(1,234 |
) |
|
$ |
2 |
|
|
$ |
(2,787 |
) |
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(134 |
) |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(21 |
) |
|
$ |
(26 |
) |
|
$ |
— |
|
|
$ |
(183 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
39 |
|
|
|
4 |
|
|
|
— |
|
|
|
44 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(134 |
) |
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
18 |
|
|
$ |
(22 |
) |
|
$ |
— |
|
|
$ |
(139 |
) |
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(11 |
) |
|
$ |
(12 |
) |
|
$ |
(1 |
) |
|
$ |
(76 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(100 |
) |
Gross recoveries |
|
|
4 |
|
|
|
— |
|
|
|
10 |
|
|
|
— |
|
|
|
— |
|
|
|
78 |
|
|
|
— |
|
|
|
— |
|
|
|
92 |
|
Net charge-offs |
|
$ |
4 |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(12 |
) |
|
$ |
(1 |
) |
|
$ |
2 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(8 |
) |
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(2 |
) |
|
$ |
(25 |
) |
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(28 |
) |
Gross recoveries |
|
|
— |
|
|
|
1 |
|
|
|
22 |
|
|
|
1 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
25 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(3 |
) |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(3 |
) |
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(206 |
) |
|
$ |
(105 |
) |
|
$ |
(216 |
) |
|
$ |
(183 |
) |
|
$ |
(49 |
) |
|
$ |
(191 |
) |
|
$ |
(73 |
) |
|
$ |
— |
|
|
$ |
(1,023 |
) |
Gross recoveries |
|
|
8 |
|
|
|
10 |
|
|
|
19 |
|
|
|
34 |
|
|
|
10 |
|
|
|
122 |
|
|
|
11 |
|
|
|
— |
|
|
|
214 |
|
Net charge-offs |
|
$ |
(198 |
) |
|
$ |
(95 |
) |
|
$ |
(197 |
) |
|
$ |
(149 |
) |
|
$ |
(39 |
) |
|
$ |
(69 |
) |
|
$ |
(62 |
) |
|
$ |
— |
|
|
$ |
(809 |
) |
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(206 |
) |
|
$ |
(138 |
) |
|
$ |
(763 |
) |
|
$ |
(374 |
) |
|
$ |
(536 |
) |
|
$ |
(1,127 |
) |
|
$ |
(1,472 |
) |
|
$ |
— |
|
|
$ |
(4,616 |
) |
Gross recoveries |
|
|
12 |
|
|
|
11 |
|
|
|
306 |
|
|
|
49 |
|
|
|
33 |
|
|
|
329 |
|
|
|
75 |
|
|
|
2 |
|
|
|
817 |
|
Net charge-offs |
|
$ |
(194 |
) |
|
$ |
(127 |
) |
|
$ |
(457 |
) |
|
$ |
(325 |
) |
|
$ |
(503 |
) |
|
$ |
(798 |
) |
|
$ |
(1,397 |
) |
|
$ |
2 |
|
|
$ |
(3,799 |
) |
|
| Summary of Amortized Cost Basis of Loans Modified |
The following table presents the amortized cost basis of loans at December 31, 2025, and 2024, that were both experiencing financial difficulty and modified during the twelve months ended December 31, 2025 and 2024, by class and by type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable is also presented below.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Payment Delay |
|
|
Term Extension |
|
|
Combination Payment Delay and Term Extension |
|
|
Total Modifications |
|
Total Class of Financing Receivable |
|
Commercial real estate |
|
$ |
759 |
|
|
$ |
901 |
|
|
$ |
— |
|
|
$ |
1,660 |
|
|
0.07 |
% |
Commercial and industrial |
|
|
156 |
|
|
|
2,554 |
|
|
|
— |
|
|
|
2,710 |
|
|
0.33 |
% |
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural |
|
|
230 |
|
|
|
— |
|
|
|
— |
|
|
|
230 |
|
|
0.12 |
% |
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Total |
|
$ |
1,145 |
|
|
$ |
3,455 |
|
|
$ |
— |
|
|
$ |
4,600 |
|
|
0.11 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Payment Delay |
|
|
Term Extension |
|
|
Combination Payment Delay and Term Extension |
|
|
Total Modifications |
|
Total Class of Financing Receivable |
|
Commercial real estate |
|
$ |
— |
|
|
$ |
1,515 |
|
|
$ |
9,933 |
|
|
$ |
11,448 |
|
|
0.63 |
% |
Commercial and industrial |
|
|
3,667 |
|
|
|
2,470 |
|
|
|
1,736 |
|
|
|
7,873 |
|
|
1.19 |
% |
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural real estate |
|
|
— |
|
|
|
3,222 |
|
|
|
— |
|
|
|
3,222 |
|
|
1.21 |
% |
Agricultural |
|
|
— |
|
|
|
1,641 |
|
|
|
168 |
|
|
|
1,809 |
|
|
2.07 |
% |
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Total |
|
$ |
3,667 |
|
|
$ |
8,848 |
|
|
$ |
11,837 |
|
|
$ |
24,352 |
|
|
0.70 |
% |
|
| Summary of Performance of Loans Modified |
The following table presents the performance of such loans that have been modified during the twelve months ended December 31, 2025, and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
30 - 59 Days Past Due |
|
|
60 - 89 Days Past Due |
|
|
Greater Than 89 days Past Due |
|
|
Total Past Due |
|
Commercial real estate |
|
$ |
— |
|
|
$ |
674 |
|
|
$ |
76 |
|
|
$ |
750 |
|
Commercial and industrial |
|
|
137 |
|
|
|
— |
|
|
|
— |
|
|
|
137 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural |
|
|
— |
|
|
|
— |
|
|
|
230 |
|
|
|
230 |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
137 |
|
|
$ |
674 |
|
|
$ |
306 |
|
|
$ |
1,117 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
30 - 59 Days Past Due |
|
|
60 - 89 Days Past Due |
|
|
Greater Than 89 days Past Due |
|
|
Total Past Due |
|
Commercial real estate |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
643 |
|
|
$ |
643 |
|
Commercial and industrial |
|
|
393 |
|
|
|
2,967 |
|
|
|
617 |
|
|
|
3,977 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
393 |
|
|
$ |
2,967 |
|
|
$ |
1,260 |
|
|
$ |
4,620 |
|
|
| Schedule of Financial Effect of Loan Modifications to Borrowers Experiencing Financial Difficulty |
The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the twelve months ended December 31, 2025, and 2024.
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Principal Forgiveness |
|
|
Weighted Average Interest Rate Reduction |
|
|
Weighted Average Term Extension in Years |
|
Commercial real estate |
|
$ |
— |
|
|
|
— |
|
% |
|
0.61 |
|
Commercial and industrial |
|
|
— |
|
|
|
— |
|
% |
|
0.25 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Agricultural |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Consumer |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Total loans |
|
$ |
— |
|
|
|
— |
|
% |
|
0.34 |
|
|
|
|
|
|
|
|
|
|
|
December 31, 2024 |
|
Principal Forgiveness |
|
|
Weighted Average Interest Rate Reduction |
|
|
Weighted Average Term Extension in Years |
|
Commercial real estate |
|
$ |
— |
|
|
|
— |
|
% |
|
0.41 |
|
Commercial and industrial |
|
|
— |
|
|
|
— |
|
% |
|
0.70 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
% |
|
5.16 |
|
Agricultural |
|
|
— |
|
|
|
— |
|
% |
|
0.80 |
|
Consumer |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Total loans |
|
$ |
— |
|
|
|
— |
|
% |
|
1.24 |
|
|