v3.26.1
Loans, Leases and Allowance
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Loans, Leases and Allowance Loans, Leases and Allowance
Categories of loans and leases at December 31, 2025 and 2024 include:
 20252024
Commercial mortgage$414,316 $371,705 
Commercial and industrial142,508 126,367 
Construction and development71,705 132,570 
Multi-family208,894 185,864 
Residential mortgage171,063 172,644 
Home equity lines of credit20,147 16,826 
Leases145,806 148,102 
Consumer19,280 21,218 
1,193,719 1,175,296 
Less
Allowance for credit losses16,466 15,791 
Deferred loan fees440 626 
$1,176,813 $1,158,879 

First Bank rates all loans and leases by credit quality using the following designations:
Grade 1 - Exceptional
Exceptional loans are top-quality loans to individuals whose financial credentials are well known to the Company. These loans have excellent sources of repayment, are well documented and/or virtually free of risk (i.e., CD secured loans).
Grade 2 - Quality Loans
These loans have excellent sources of repayment with no identifiable risk of collection, and they conform in all respects to Company policy and Indiana Department of Financial Institutions ("DFI") and Federal Deposit Insurance Corporation ("FDIC") regulations. Documentation exceptions are minimal or are in the process of being corrected and are not of a type that could subsequently expose the Company to risk of loss.
Grade 3 - Acceptable Loans
This category is for “average” quality loans. These loans have adequate sources of repayment with little identifiable risk of collection and they conform to Company policy and DFI/FDIC regulations.
Grade 4 - Acceptable but Monitored
Loans in this category may have a greater than average risk due to financial weakness or uncertainty but do not appear to require classification as special mention or substandard loans. Loans rated “4” need to be monitored on a regular basis to ascertain that the reasons for placing them in this category do not advance or worsen.
Grade 5 - Special Mention
Loans in this category have potential weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the Company’s credit position at some future date. Special Mention loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. This special mention rating is
designed to identify a specific level of risk and concern about an asset’s quality. Although a special mention loan has a higher probability of default than a grade 1-4 or "pass" rated loan, its default is not imminent.
Grade 6 - Substandard
Loans in this category are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected.
Substandard loans have a high probability of payment default, or they have other well-defined weaknesses. Such loans have a distinct potential for loss; however, an individual loan’s potential for loss does not have to be distinct for the loan to be rated substandard.  
The following are examples of situations that might cause a loan to be graded a “6”:
•Cash flow deficiencies (losses) jeopardize future loan payments; 
•Sale of non-collateral assets has become a primary source of loan repayment;
•The relationship has deteriorated to the point that sale of collateral is now the Company’s primary source of repayment, unless this was the original source of loan repayment;
•The borrower is bankrupt or for any other reason future repayment is dependent on court action. 
Grade 7 - Doubtful
A loan classified as doubtful has all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of current existing facts, conditions, and values, highly questionable and improbable. A doubtful loan has a high probability of total or substantial loss. Doubtful borrowers are usually in default, lack adequate liquidity or capital, and lack the resources necessary to remain an operating entity. Because of high probability of loss, nonaccrual accounting treatment will be required for doubtful loans.
Grade 8 - Loss
Loans classified as loss are considered uncollectible and of such little value that their continuance as bankable assets are not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off the loan even though partial recovery may be affected in the future.
The risk characteristics of each loan portfolio segment are as follows:
Commercial and Industrial
Commercial and industrial loans are primarily based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets, such as accounts receivable or inventory, and may include a personal guarantee. Short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers.
Commercial Mortgage including Construction and Development
Loans in this segment include commercial loans, commercial construction loans, and multi-family loans. This segment also includes loans secured by 1-4 family residences which were made for investment purposes. Commercial real estate loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts and the repayment of these loans is generally dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be more adversely affected by conditions in the real estate markets or in the general economy. The characteristics of properties securing the Company’s commercial real estate portfolio are diverse, but with geographic location almost entirely in the Company’s market area. Management monitors and evaluates commercial real estate loans based on collateral, geography and risk grade criteria. In general, the Company avoids financing single purpose projects unless other underwriting factors are present to help mitigate risk. In addition, management tracks the level of owner-occupied commercial real estate versus nonowner-occupied loans.
Construction loans are underwritten utilizing feasibility studies, independent appraisal reviews and financial analysis of the developers and property owners. Construction loans are generally based on estimates of costs and value associated with the complete project. These estimates may be inaccurate. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions and the availability of long-term financing.
Residential, Home Equity, and Consumer
Residential, home equity, and consumer loans consist of three segments - residential mortgage loans, including brokered mortgage loans, home equity lines of credit, and personal loans. For residential mortgage loans that are secured by 1-4 family residences and are generally owner-occupied, the Company generally establishes a maximum loan-to-value ratio and requires private mortgage insurance if that ratio is exceeded. Home equity loans are typically secured by a subordinate interest in 1-4 family residences. Consumer personal loans are secured by consumer personal assets, such as automobiles or recreational vehicles. Some consumer personal loans are unsecured, such as small installment loans and certain lines of credit. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by economic conditions in their market areas, such as unemployment levels. Repayment can also be impacted by changes in property values on residential properties. Risk is mitigated by the fact that the loans are of smaller individual amounts and spread over a large number of borrowers.
Leases
Lease financing consists of direct financing leases and are used by commercial customers to finance capital purchases of equipment. The credit decisions for these transactions are based upon an assessment of the overall financial capacity of the applicant. A determination is made as to the applicant’s financial condition and ability to repay in accordance with the proposed terms as well as an overall assessment of the risks involved.
The following tables present the credit risk profile of the Company’s loan portfolio based on rating category, payment activity, and origination year as of December 31, 2025 and 2024:
20252024202320222021PriorRevolving loans amortized cost basisTotal
As of December 31, 2025:
Commercial mortgage
Pass$65,746 $28,457 $43,078 $81,156 $38,485 $104,920 $44,820 $406,662 
Substandard— — — — 7,654 — — 7,654 
Total Commercial mortgage65,746 28,457 43,078 81,156 46,139 104,920 44,820 414,316 
Current period gross charge-offs— — — — — — — — 
Commercial and industrial
Pass24,361 14,524 21,342 6,601 9,148 11,218 53,505 140,699 
Substandard— — — 173 — 30 1,606 1,809 
Total Commercial and industrial24,361 14,524 21,342 6,774 9,148 11,248 55,111 142,508 
Current period gross charge-offs— — — — 2 — — 2 
Construction and development
Pass31,478 14,823 1,914 1,516 15,946 105 — 65,782 
Special Mention— — 429 594 — — — 1,023 
Substandard— — — — — 4,900 — 4,900 
Total Construction and development31,478 14,823 2,343 2,110 15,946 5,005 — 71,705 
Current period gross charge-offs— — — — — — — — 
Multi-family
Pass19,060 16,545 10,946 62,286 46,369 20,269 26,246 201,721 
Substandard— — — 2,362 1,355 3,456 — 7,173 
Total Multi-family19,060 16,545 10,946 64,648 47,724 23,725 26,246 208,894 
Current period gross charge-offs— — — — — — — — 
Residential mortgage
Pass25,873 14,224 29,613 24,979 25,038 46,869 2,944 169,540 
Substandard— — 234 — 446 843 — 1,523 
Total Residential mortgage25,873 14,224 29,847 24,979 25,484 47,712 2,944 171,063 
Current period gross charge-offs— — — — — — — — 
Home equity lines of credit
Pass48 — 224 — 57 — 19,730 20,059 
Substandard— — — — — — 88 88 
Total Home equity lines of credit48 — 224 — 57 — 19,818 20,147 
Current period gross charge-offs— — — — — — — — 
Direct financing leases
Pass59,587 37,199 31,748 12,243 3,128 604 — 144,509 
Substandard— 64 225 232 61 — — 582 
Doubtful40 212 392 38 33 — — 715 
Total Direct financing leases59,627 37,475 32,365 12,513 3,222 604 — 145,806 
Current period gross charge-offs9 260 961 413 291 23 — 1,957 
Consumer
Pass6,246 4,586 3,793 2,933 1,163 391 122 19,234 
Substandard— — 24 — 22 — — 46 
Total Consumer6,246 4,586 3,817 2,933 1,185 391 122 19,280 
Current period gross charge-offs51 19 55 72 9 23 — 229 
Total Loans and Leases$232,439 $130,634 $143,962 $195,113 $148,905 $193,605 $149,061 $1,193,719 
Total current period gross charge-offs$60 $279 $1,016 $485 $302 $46 $— $2,188 
20242023202220212020PriorRevolving loans amortized cost basisTotal
As of December 31, 2024:
Commercial mortgage
Pass$22,469 $40,634 $82,254 $65,852 $31,382 $90,763 $33,393 $366,747 
Substandard— — — 234 4,724 — — 4,958 
Total Commercial mortgage22,469 40,634 82,254 66,086 36,106 90,763 33,393 371,705 
Current period gross charge-offs— — — — — — — — 
Commercial and industrial
Pass18,197 28,998 9,866 11,111 2,703 9,648 44,026 124,549 
Substandard— — 282 — — 35 1,501 1,818 
Total Commercial and industrial18,197 28,998 10,148 11,111 2,703 9,683 45,527 126,367 
Current period gross charge-offs— — — — — 16 — 16 
Construction and development
Pass20,811 44,837 43,691 18,185 30 116 — 127,670 
Substandard— — — — — 4,900 — 4,900 
Total Construction and development20,811 44,837 43,691 18,185 30 5,016 — 132,570 
Current period gross charge-offs— — — — — — — — 
Multi-family
Pass7,252 3,789 61,936 50,178 6,195 24,845 26,751 180,946 
Total Multi-family7,252 3,789 61,936 51,639 9,652 24,845 26,751 185,864 
Current period gross charge-offs— — — — — — — — 
Residential mortgage
Pass22,614 33,949 28,498 28,302 16,239 39,174 2,513 171,289 
Substandard— 35 — 450 — 870 — 1,355 
Total Residential mortgage22,614 33,984 28,498 28,752 16,239 40,044 2,513 172,644 
Current period gross charge-offs— — — — — 10 — 10 
Home equity lines of credit
Pass18 198 — 57 — — 16,539 16,812 
Substandard— — — — — — 14 14 
Total Home equity lines of credit18 198 — 57 — — 16,553 16,826 
Current period gross charge-offs— — — — — — — — 
Direct financing leases
Pass53,286 53,601 25,447 11,381 3,336 329 — 147,380 
Substandard127 318 175 40 28 — — 688 
Doubtful— 9 — 7 18 — — 34 
Total Direct financing leases53,413 53,928 25,622 11,428 3,382 329 — 148,102 
Current period gross charge-offs— 741 592 325 72 1 — 1,731 
Consumer
Pass6,807 6,272 5,200 2,088 438 314 — 21,119 
Substandard— 3 47 49 — — — 99 
Total Consumer6,807 6,275 5,247 2,137 438 314 — 21,218 
Current period gross charge-offs47 89 114 32 — 3 — 285 
Total Loans and Leases$151,581 $212,643 $257,396 $189,395 $68,550 $170,994 $124,737 $1,175,296 
Total current period gross charge-offs$47 $830 $706 $357 $72 $30 $— $2,042 
The following tables present the Company’s loan portfolio aging analysis of the recorded investment in loans as of December 31, 2025 and 2024:

2025
Delinquent Loans Total Portfolio LoansTotal Accruing Loans 90 Days or More Past Due
30-59 Days
Past Due		60-89 Days
Past Due		90 Days and
Over		Total Past
Due		Current
Commercial mortgage$— $— $7,435 $7,435 $406,881 $414,316 $— 
Commercial and industrial— — — — 142,508 142,508 — 
Construction and development— — 4,900 4,900 66,805 71,705 — 
Multi-family— — 2,362 2,362 206,532 208,894 2,362 
Residential mortgage773 481 1,522 2,776 168,287 171,063 1,445 
Home equity lines of credit126 70 88 284 19,863 20,147 88 
Leases511 296 299 1,106 144,700 145,806 299 
Consumer148 50 46 244 19,036 19,280 46 
Totals$1,558 $897 $16,652 $19,107 $1,174,612 $1,193,719 $4,240 

2024
Delinquent Loans Total Portfolio LoansTotal Accruing Loans 90 Days or More Past Due
30-59 Days
Past Due		60-89 Days
Past Due		90 Days and
Over		Total Past
Due		Current
Commercial mortgage$101 $216 $— $317 $371,388 $371,705 $— 
Commercial and industrial419 — — 419 125,948 126,367 — 
Construction and development429 240 4,900 5,569 127,001 132,570 — 
Multi-family— — — — 185,864 185,864 — 
Residential mortgage781 540 1,356 2,677 169,967 172,644 1,261 
Home equity lines of credit11 58 14 83 16,743 16,826 14 
Leases673 362 340 1,375 146,727 148,102 340 
Consumer108 183 99 390 20,828 21,218 99 
Totals$2,522 $1,599 $6,709 $10,830 $1,164,466 $1,175,296 $1,714 
The following table presents information on the Company's nonaccrual loans and leases at December 31, 2025 and 2024:
December 31,
2025		December 31,
2024
Nonaccrual loans and leasesNonaccrual loans and leases without an allowance for credit lossesNonaccrual loans and leasesNonaccrual loans and leases without an allowance for credit losses
Commercial mortgage$7,435 $6,732 $— $— 
Commercial and industrial30 — 35 — 
Construction and development
4,900 — 4,900 — 
Residential mortgage76 76 94 94 
Direct financing leases715 715 34 34 
Total nonaccrual loans and leases$13,156 $7,523 $5,063 $128 
During the years ended December 31, 2025 and 2024, the Company recognized $3,000 and $5,000, respectively, of interest income on nonaccrual loans and leases.
The following tables present the Company's amortized cost basis of collateral dependent loans, and their respective collateral type, which are individually analyzed to determine expected credit losses, at the dates indicated:
December 31, 2025
Commercial Real EstateMulti-family HousingResidential Real EstateOtherTotalAllowance on Collateral Dependent Loans
Commercial mortgage$7,435 $— $— $— $7,435 $150 
Commercial and industrial— — — 1,607 1,607 — 
Construction and development
5,923 — — — 5,923 1,750 
Multi-family— 7,174 — — 7,174 250 
Residential mortgage— — 124 — 124 — 
Total$13,358 $7,174 $124 $1,607 $22,263 $2,150 

December 31, 2024
Commercial Real EstateMulti-family HousingResidential Real EstateOtherTotalAllowance on Collateral Dependent Loans
Commercial mortgage$4,724 $— $— $— $4,724 $— 
Commercial and industrial— — — 1,501 1,501 — 
Construction and development
4,900 — — — 4,900 1,000 
Multi-family— 1,461 — — 1,461 — 
Residential mortgage— — 143 — 143 — 
Total$9,624 $1,461 $143 $1,501 $12,729 $1,000 
Loan Modification Disclosures under ASU 2022-02
In certain situations, the Company may modify the terms of a loan or lease to a borrower experiencing financial difficulty. These modifications may include payment delays, term extensions, or interest-rate reductions. In some cases, combinations of modifications may be made to the same loan or lease. If a determination is made that a modified loan or lease has been deemed uncollectible, the loan or lease (or portion of the loan or lease) is charged-off, reducing the amortized cost basis of the loan or lease and adjusting the allowance for credit losses.
During the year ended December 31, 2025, the Company had no new modifications to borrowers experiencing financial difficulty. During the year ended December 31, 2024, the Company modified two residential mortgage loans, both involving term extensions, to borrowers experiencing financial difficulty. The total amortized cost basis of the loans modified at December 31, 2024 was $168,000. For the year ended December 31, 2024, loan and lease modifications to borrowers experiencing financial difficulty resulted in a weighted average term extension of 20 months for the modified loans.
There were no modified loans or leases that had a payment default during the years ended December 31, 2025 and 2024 and that were modified in the twelve months prior to that default to borrowers experiencing financial difficulty.

Other Real Estate Owned
At December 31, 2025 and 2024, the balance of real estate owned included $56,000 and $37,000, respectively, of foreclosed real estate properties recorded as a result of obtaining physical possession of the property. At December 31, 2025 and 2024, the recorded investment of consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceeds were in process was $923,000 and $275,000, respectively.

Direct Financing Leases
The following lists the components of the net investment in direct financing leases:
December 31, 2025December 31, 2024
Total minimum lease payments to be received$166,565 $168,934 
Initial direct costs9,422 9,360 
175,987 178,294 
Less:  Unearned income(30,181)(30,192)
Net investment in direct finance leases$145,806 $148,102 

The following summarizes the future minimum lease payments receivable subsequent to December 31, 2025:
2026$65,255 
202747,954 
202831,526 
202916,216 
20305,283 
Thereafter331 
$166,565 
Allowance for Credit Losses on Loans and Leases
The allowance for credit losses on loans and leases is established for current expected credit losses on the Company's loan and lease portfolios in accordance with ASC Topic 326. This requires significant judgment to estimate credit losses measured on a collective pool basis when similar risk characteristics exist, and for loans evaluated individually. The Company estimates expected future losses for the loan's entire contractual term, taking into account expected payments when appropriate. The allowance is an estimation based on management's evaluation of expected losses related to the Company's financial assets measured at amortized cost. It considers relevant available information from internal and external sources relating to the historical loss experience, current conditions and reasonable and supportable forecasts for the Company's outstanding loan and lease balances.
The Company utilizes a CF analysis method of estimating expected losses, which relies on key inputs and assumptions. Significant factors affecting the calculation are the segmenting of loans and leases based upon similar risk characteristics, applied loss rates based upon reasonable and supportable forecasts, and contractual term adjustments, including prepayment and curtailment adjustments. To ensure the allowance is maintained at an adequate level, a detailed analysis is performed on a quarterly basis, with an appropriate provision made to adjust the allowance.
The Company has elected to exclude accrued interest receivable from the calculation of the allowance for credit losses, as it is the Company's policy to write off accrued interest in a timely manner as it is deemed uncollectible by reversing interest income. Accrued interest receivable totaled $4.4 million and $4.1 million at December 31, 2025 and 2024, respectively.
The Company categorizes its loan portfolios into eight segments, as discussed above, based on similar risk characteristics. Loans within each segment are collectively evaluated using either a CF methodology or remaining life methodology. When estimating for credit loss, the Company forecasts the first four quarters of the credit loss estimate and reverts to a long-run average of each considered factor. The Company developed its reasonable and supportable forecasts using economic data, such as gross domestic product and unemployment rate.
Qualitative adjustments are applied to each collectively segmented pool to appropriately capture differences in current or expected qualitative risk characteristics. When evaluating the estimation for expected credit losses, the Company evaluates these qualitative adjustments for any changes in:
•lending policies, procedures, and strategies,
•the nature and volume of the loan and lease portfolio,
•international, national, regional, and local conditions,
•the experience, depth, and ability of lending management,
•the volume and severity of past due loans,
•the quality of the loan review system,
•the underlying collateral,
•concentration risk, and
•the effect of other external factors.
The following tables summarize changes in the allowance for credit losses by segment for the years ended December 31, 2025 and 2024:
Balances, December 31, 2024Provision for (reversal of) credit lossesCharge-offsRecoveriesBalances, December 31, 2025
Commercial mortgage$4,486 $88 $— $1 $4,575 
Commercial and industrial1,483 302 (2)29 1,812 
Construction and development2,243 55 — — 2,298 
Multi-family2,660 (324)— — 2,336 
Residential mortgage1,910 (106)— 29 1,833 
Home equity184 5 — — 189 
Direct financing leases2,469 2,217 (1,957)346 3,075 
Consumer356 146 (229)75 348 
Total$15,791 $2,383 $(2,188)$480 $16,466 

Balances, December 31, 2023Provision for (reversal of) credit lossesCharge-offsRecoveriesBalances, December 31, 2024
Commercial mortgage$4,655 $(169)$— $— $4,486 
Commercial and industrial1,281 138 (16)80 1,483 
Construction and development3,883 (1,640)— — 2,243 
Multi-family1,789 871 — — 2,660 
Residential mortgage1,681 225 (10)14 1,910 
Home equity102 82 — — 184 
Direct financing leases1,955 1,942 (1,731)303 2,469 
Consumer317 185 (285)139 356 
Total$15,663 $1,634 $(2,042)$536 $15,791 

Our commercial loan portfolio, consisting of commercial and multi-family real estate loans, commercial and industrial loans, and construction loans, represented 70.2% and 69.5% of our portfolio as of December 31, 2025 and 2024, respectively. The allowance for credit losses on loans and leases allocated to the commercial loan portfolio represented 66.9% and 68.9% of our total allowance at December 31, 2025 and 2024, respectively.
Economic Outlook
Due to the forward-looking nature of the allowance for credit losses, management is required to make significant estimates and assumptions. Estimating the allowance requires the use of relevant forward-looking information based on reasonable and supportable forecasts. Economic factors are a key component of these forecasts and are evaluated periodically for developments that may affect the Company's loan and lease portfolio and related credit losses.
As of December 31, 2025, the Company's reasonable and supportable forecasts incorporate assumptions regarding inflationary pressures, moderating economic growth, unemployment trends, and geopolitical risks. These factors are reflected in the Company's allowance for credit losses methodology and may influence borrower performance and overall credit conditions.
The Company's loan portfolio is concentrated in three primary market regions: Columbus, Ohio; Cincinnati/Dayton, Ohio; and Indianapolis, Indiana. Economic conditions in these regions, particularly those affecting commercial real estate and commercial lending activity, are considered in the Company's credit loss estimates.
•Columbus, Ohio - The Columbus market region continues to experience economic activity supported by investment in technology, healthcare, education, and related development projects. These sectors have contributed to job growth and infrastructure expansion, and population trends in Central Ohio have supported demand for housing and services.
•Cincinnati/Dayton, Ohio - The economic outlook for the Cincinnati and Dayton market region remains stable, supported by activity in manufacturing, construction, healthcare, and technology-related sectors. Employment and business investment trends have contributed to regional economic activity.
•Indianapolis, Indiana - The Indianapolis market region continues to experience development and investment activity, including in manufacturing, technology, logistics, and urban redevelopment initiatives. While inflationary pressures and labor market conditions present ongoing challenges, economic activity in the region has supported expectations for continued development.
The overall economic outlook remains uncertain, and actual economic conditions may differ from the assumptions incorporated into the Company's forecasts. Given the sensitivity of the allowance for credit losses to changes in economic conditions and other variables, future changes in the economic environment may result in material fluctuations in the Company's allowance for credit losses during 2026.
Allowance for Credit Losses on Unfunded Commitments
The allowance for credit losses on unfunded commitments is included in other liabilities on the Condensed Consolidated Balance Sheets. The estimate of expected losses on unfunded commitments is calculated based on the loss rate for the loan or lease segment in which the loan or lease commitments would be classified if funded, adjusted for the estimate of funding probability. Additional provisions applied to the allowance are recognized in the provision for credit losses on the Consolidated Statements of Income.
The following table details activity in the allowance for credit losses on unfunded commitments during the year ended December 31, 2025 and 2024:

Year Ended December 31,
20252024
Beginning balance
$558 $1,642 
Reversal of provision for credit losses(230)(1,084)
Ending balance
$328 $558