Outstanding loans are summarized below:

Salaries and employee benefits totaling $3,031,000, $2,697,000 and $2,283,000 have been deferred as loan origination costs during the years ended December 31, 2025, 2024 and 2023, respectively.

The following table shows the loan portfolio allocated by management's internal risk ratings or payment activity at December 31, 2025:

The following table shows the ending balance of nonaccrual loans by loan category as of the date indicated:

The Company places loans 90 days or more past due on nonaccrual status unless the loan is well secured and in the process of collection. A loan is considered to be in the process of collection if, based on a probable specific event, it is expected that the loan will be repaid or brought current. Generally, this collection period would not exceed 90 days. When a loan is placed on nonaccrual status the Company's general policy is to reverse and charge against current income previously accrued but unpaid interest. Interest income on such loans is subsequently recognized only to the extent that cash is received, and future collection of principal is deemed by management to be probable. Where the collectability of the principal or interest on a loan is considered to be doubtful by management, it is placed on nonaccrual status prior to becoming 90 days delinquent.

At December 31, 2025, there were four nonaccrual commercial loans with an amortized cost of $152,000 that had allowance for credit losses totaling $68,000 and five nonaccrual agricultural loans with an amortized cost of $3,352,000 that had allowance for credit losses totaling $1,448,000. At December 31, 2024, there was one nonaccrual commercial loan with an amortized cost of $55,000 that had allowance for credit losses totaling $29,000.  No income was recognized on nonaccrual loans accounted on a cash basis during the twelve months ended December 31, 2025, or the year ended December 31, 2024.

The following tables show interest reversed against interest income for loans placed on nonaccrual status during the twelve months ended December 31, 2025, 2024 and 2023.

The following tables present the amortized cost basis of collateral dependent loans by class of loans at December 31, 2025, in thousands:

The following tables present the amortized cost basis of collateral dependent loans by class of loans at December 31, 2024, in thousands:

The following table presents the amortized cost basis of loans on December 31, 2025, that were both experiencing financial difficulty and modified during the twelve months ended December 31, 2025, 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 financial receivable is also presented below.

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of  December 31, 2025:

The following table presents the amortized cost basis of loans on December 31, 2024, that were both experiencing financial difficulty and modified during the twelve months ended December 31, 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 financial receivable is also presented below.

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of  December 31, 2024:

The following table presents the amortized cost basis of loans on December 31, 2023, that were both experiencing financial difficulty and modified during the twelve months ended December 31, 2023, 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 financial receivable is also presented below.

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of  December 31, 2023:

Loans with payment defaults by borrowers experiencing financial difficulty during the twelve months ended December 31, 2025, which had material modifications in rate, term or principal forgiveness during the twelve months prior to default, totaled $6.9 million in agricultural loans of which four totaling $4.9 million were past due 199 days and  one totaling $2 million which was past due 260 days at December 31, 2025 and one commercial real estate loan totaling $73,000 which was 44 days past due at December 31, 2025. The agricultural loans were related to one borrower. Loans with payment defaults by borrowers experiencing financial difficulty during the twelve months ended December 31, 2024, which had material modifications in rate, term or principal forgiveness during the twelve months prior to default, totaled $4.3 million in agricultural loans which were not past due at December 31, 2024, and one commercial loan totaling $30,000 which was 70 days past due at December 31, 2024. There were no loan payment defaults by borrowers experiencing financial difficulty during the twelve months ended December 31, 2023, which had material modifications in rate, term or principal forgiveness during the twelve months prior to default.

The following tables show an aging analysis of the loan portfolio by the time past due, in thousands:

The following tables show the allocation of the allowance for credit losses at the dates indicated, in thousands: