v3.26.1
Allowance for Credit Losses, Credit Quality and Other (Tables)
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Balance of Allowance for Credit Losses
The following table presents the activity in the allowance for credit losses for the three months ended March 31, 2026:
Three Months Ended March 31, 2026
Construction/
Land
Development 		Other
Commercial
Real Estate 		Residential
Real Estate 		Commercial
& Industrial 		Consumer
& Other 		Total
(In thousands)
Allowance for credit losses:
Beginning balance$48,023 $77,220 $72,692 $65,932 $33,716 $297,583 
Loans charged off— (458)(393)(1,326)(672)(2,849)
Recoveries of loans previously charged off
20 617 18 191 554 1,400 
Net loans recovered (charged off)
20 159 (375)(1,135)(118)(1,449)
Provision for credit losses1,334 13,171 (334)(7,626)(5,045)1,500 
Balance, March 31$49,377 $90,550 $71,983 $57,171 $28,553 $297,634 
During the first quarter of 2026, the Company implemented updated allowance for credit loss models as part of the annual model review and challenge process. The allowance calculation called for a higher level of reserves for the CRE portfolio, which was largely offset by a corresponding reduction in reserves for the commercial and industrial portfolio as well as the consumer portfolio.
The following table presents the activity in the allowance for credit losses for the three months ended March 31, 2025 and the year ended December 31, 2025:
Three Months Ended March 31, 2025 and Year Ended December 31, 2025
Construction/
Land
Development 		Other
Commercial
Real Estate 		Residential
Real Estate
Commercial
& Industrial
Consumer
& Other 		Total
(In thousands)
Allowance for credit losses:
Beginning balance$52,271 $91,315 $50,835 $49,621 $31,838 $275,880 
Loans charged off— (2,300)(75)(161)(923)(3,459)
Recoveries of loans previously charged off
125 6,160 51 958 228 7,522 
Net loans (charged off) recovered
125 3,860 (24)797 (695)4,063 
Provision for credit loss - loans(4,220)(8,890)2,597 9,704 809 — 
Balance, March 31
48,176 86,285 53,408 60,122 31,952 279,943 
Loans charged off(70)(734)(556)(6,216)(4,208)(11,784)
Recoveries of loans previously charged off
451 2,540 172 1,420 741 5,324 
Net loans (charged off) recovered
381 1,806 (384)(4,796)(3,467)(6,460)
Provision for credit loss - loans(534)(10,871)19,668 10,606 5,231 24,100 
Balance, December 31
$48,023 $77,220 $72,692 $65,932 $33,716 $297,583 
Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due Over 90 Days Still Accruing
The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing as of March 31, 2026 and December 31, 2025:
March 31, 2026
NonaccrualNonaccrual
with Reserve		Loans Past Due
Over 90 Days
Still Accruing
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential$56,767 $14,530 $751 
Construction/land development7,856 — 600 
Agricultural398 — — 
Residential real estate loans
Residential 1-4 family24,890 — 136 
Multifamily residential11,175 10,363 — 
Total real estate101,086 24,893 1,487 
Consumer12,393 4,981 — 
Commercial and industrial64,941 — 982 
Agricultural & other1,219 — 12 
Total$179,639 $29,874 $2,481 
 December 31, 2025
NonaccrualNonaccrual
with Reserve		Loans Past Due
Over 90 Days
Still Accruing
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential$21,685 $14,752 $— 
Construction/land development5,444 — 405 
Agricultural489 — — 
Residential real estate loans
Residential 1-4 family24,149 — 2,321 
Multifamily residential10,925 10,113 — 
Total real estate62,692 24,865 2,726 
Consumer10,326 4,981 3,290 
Commercial and industrial3,760 — 964 
Agricultural & other1,224 — — 
Total$78,002 $29,846 $6,980 
Amortized Cost Basis of Collateral-dependent Impaired Loans
The following table presents the amortized cost basis of impaired loans (which includes loans individually analyzed for credit losses for which a specific reserve has been recorded, non-accrual loans, loans past due 90 days or more and restructured loans made to borrowers experiencing financial difficulty) by class of loans as of March 31, 2026 and December 31, 2025:
March 31, 2026
Commercial
Real Estate		Residential
Real Estate		Other
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential$92,744 $— $— 
Construction/land development8,456 — — 
Agricultural398 — — 
Residential real estate loans
Residential 1-4 family— 27,953 — 
Multifamily residential— 11,175 — 
Total real estate101,598 39,128 — 
Consumer— — 12,393 
Commercial and industrial— — 65,977 
Agricultural & other— — 1,231 
Total$101,598 $39,128 $79,601 
 December 31, 2025
Commercial
Real Estate		Residential
Real Estate		Other
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential$93,550 $— $— 
Construction/land development5,849 — — 
Agricultural489 — — 
Residential real estate loans
Residential 1-4 family— 29,402 — 
Multifamily residential— 10,925 — 
Total real estate99,888 40,327 — 
Consumer— — 13,616 
Commercial and industrial— — 64,367 
Agricultural & other— — 1,224 
Total$99,888 $40,327 $79,207 
Summary of Aging Analysis for Loans Receivable
The following is an aging analysis for loans receivable as of March 31, 2026 and December 31, 2025:
March 31, 2026
Loans
Past Due
30-59 Days		Loans
Past Due
60-89 Days		Loans
Past Due
90 Days
or More		Total
Past Due		Current
Loans		Total
Loans
Receivable		Accruing
Loans
Past Due
90 Days
or More
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential$1,321 $248 $57,518 $59,087 $5,336,442 $5,395,529 $751 
Construction/land development105 244 8,456 8,805 2,604,799 2,613,604 600 
Agricultural130 776 398 1,304 319,742 321,046 — 
Residential real estate loans
Residential 1-4 family9,683 2,434 25,026 37,143 2,063,231 2,100,374 136 
Multifamily residential— — 11,175 11,175 1,221,464 1,232,639 — 
Total real estate11,239 3,702 102,573 117,514 11,545,678 11,663,192 1,487 
Consumer1,255 475 12,393 14,123 1,240,813 1,254,936 — 
Commercial and industrial1,139 1,400 65,923 68,462 2,103,805 2,172,267 982 
Agricultural & other841 80 1,231 2,152 541,081 543,233 12 
Total$14,474 $5,657 $182,120 $202,251 $15,431,377 $15,633,628 $2,481 
December 31, 2025
Loans
Past Due
30-59 Days		Loans
Past Due
60-89 Days		Loans
Past Due
90 Days
or More		Total
Past Due		Current
Loans		Total
Loans
Receivable		Accruing
Loans
Past Due
90 Days
or More
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential$37,448 $4,723 $21,685 $63,856 $5,226,256 $5,290,112 $— 
Construction/land development207 7,208 5,849 13,264 2,713,729 2,726,993 405 
Agricultural99 — 489 588 331,824 332,412 — 
Residential real estate loans
Residential 1-4 family3,709 4,650 26,470 34,829 2,099,505 2,134,334 2,321 
Multifamily residential— — 10,925 10,925 1,129,986 1,140,911 — 
Total real estate41,463 16,581 65,418 123,462 11,501,300 11,624,762 2,726 
Consumer1,251 210 13,616 15,077 1,238,669 1,253,746 3,290 
Commercial and industrial41,433 1,048 4,724 47,205 2,175,196 2,222,401 964 
Agricultural and other1,267 14 1,224 2,505 582,795 585,300 — 
Total$85,414 $17,853 $84,982 $188,249 $15,497,960 $15,686,209 $6,980 
Presentation of Classified Loans by Class and Risk Rating
Based on the most recent analysis performed, the risk category of loans by class of loans as of March 31, 2026 and December 31, 2025 is as follows:
March 31, 2026
Term Loans Amortized Cost Basis by Origination Year
20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1$— $— $— $— $— $295 $2 $297 
Risk rating 2— — — — — — — — 
Risk rating 364,556 481,681 258,160 283,941 547,666 1,359,580 219,988 3,215,572 
Risk rating 416,905 86,686 151,786 82,068 538,390 828,549 253,873 1,958,257 
Risk rating 5— 236 633 — 13,358 21,512 395 36,134 
Risk rating 6— 11,986 33,586 2,208 39,936 97,553 — 185,269 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total non-farm/non-residential81,461 580,589 444,165 368,217 1,139,350 2,307,489 474,258 5,395,529 
Construction/land development
Risk rating 1$— $— $— $— $— $7 $— $7 
Risk rating 2— — 91 128 — 110 — 329 
Risk rating 384,653 826,112 667,261 148,491 110,723 72,311 82,435 1,991,986 
Risk rating 467,633 81,849 166,567 58,713 36,871 28,581 156,981 597,195 
Risk rating 5— 143 — — 14,844 392 — 15,379 
Risk rating 6— — 7,422 77 485 694 30 8,708 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total construction/land development152,286 908,104 841,341 207,409 162,923 102,095 239,446 2,613,604 
Agricultural
Risk rating 1$— $— $— $— $1,110 $— $— $1,110 
Risk rating 2— — — 221 — 994 — 1,215 
Risk rating 32,747 26,449 18,272 16,095 20,541 38,581 52,273 174,958 
Risk rating 4916 18,230 25,878 6,394 16,372 49,844 14,855 132,489 
Risk rating 5— — — — 4,194 106 — 4,300 
Risk rating 6— — 1,881 34 336 4,245 478 6,974 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total agricultural3,663 44,679 46,031 22,744 42,553 93,770 67,606 321,046 
Total commercial real estate loans$237,410 $1,533,372 $1,331,537 $598,370 $1,344,826 $2,503,354 $781,310 $8,330,179 
Residential real estate loans
Residential 1-4 family
Risk rating 1$— $— $— $— $— $81 $1 $82 
Risk rating 2— — — 155 — — 1 156 
Risk rating 374,446 216,151 175,805 226,330 332,413 536,867 120,901 1,682,913 
Risk rating 43,850 22,947 39,677 12,098 45,551 171,606 80,136 375,865 
Risk rating 5— 1,049 1,017 1,553 481 4,642 240 8,982 
Risk rating 61 259 951 3,900 9,041 18,055 169 32,376 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total residential 1-4 family78,297 240,406 217,450 244,036 387,486 731,251 201,448 2,100,374 
March 31, 2026
Term Loans Amortized Cost Basis by Origination Year
20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Multifamily residential
Risk rating 1$— $— $— $— $— $— $— $— 
Risk rating 2— — — — — — — — 
Risk rating 3— 237,392 216,883 58,075 140,912 134,351 7,010 794,623 
Risk rating 41,912 893 658 137,490 197,743 32,394 23,585 394,675 
Risk rating 5— — — — — 2,007 — 2,007 
Risk rating 6— — — — 40,363 971 — 41,334 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total multifamily residential1,912 238,285 217,541 195,565 379,018 169,723 30,595 1,232,639 
Total real estate$317,619 $2,012,063 $1,766,528 $1,037,971 $2,111,330 $3,404,328 $1,013,353 $11,663,192 
Consumer
Risk rating 1$926 $4,246 $2,680 $1,134 $927 $1,551 $2,943 $14,407 
Risk rating 216 — — — — 208 — 224 
Risk rating 354,747 270,285 208,774 139,205 144,814 377,351 1,116 1,196,292 
Risk rating 4462 1,869 1,351 976 4,733 6,219 110 15,720 
Risk rating 5— — — 2 464 811 — 1,277 
Risk rating 6— 1,050 12,541 5,841 2,110 5,455 19 27,016 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total consumer56,151 277,450 225,346 147,158 153,048 391,595 4,188 1,254,936 
Commercial and industrial
Risk rating 1$258 $776 $1,905 $270 $345 $21,313 $13,965 $38,832 
Risk rating 2101 — 42 46 261 17 4,160 4,627 
Risk rating 321,472 393,083 85,058 92,629 48,006 255,440 568,655 1,464,343 
Risk rating 415,123 74,405 38,048 79,977 65,287 110,631 205,309 588,780 
Risk rating 5— — — 5 40 4,931 2,639 7,615 
Risk rating 6— 1,064 41,452 848 645 1,563 20,814 66,386 
Risk rating 7— — — — — 1,376 — 1,376 
Risk rating 8— — — 10 — 298 — 308 
Total commercial and industrial36,954 469,328 166,505 173,785 114,584 395,569 815,542 2,172,267 
Agricultural and other
Risk rating 1$410 $205 $500 $344 $78 $106 $1,079 $2,722 
Risk rating 2— 550 114 210 16 — 1,001 1,891 
Risk rating 312,765 9,717 4,249 3,804 2,631 36,288 217,166 286,620 
Risk rating 452,036 9,176 7,329 1,172 33,919 28,482 116,388 248,502 
Risk rating 5— — — 20 1,064 11 — 1,095 
Risk rating 6— — 961 97 343 911 91 2,403 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total agricultural and other65,211 19,648 13,153 5,647 38,051 65,798 335,725 543,233 
Total$475,935 $2,778,489 $2,171,532 $1,364,561 $2,417,013 $4,257,290 $2,168,808 $15,633,628 
December 31, 2025
Term Loans Amortized Cost Basis by Origination Year
20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Risk rating 1$— $— $— $— $— $301 $— $301 
Risk rating 2— — — — — — — — 
Risk rating 3492,228 210,249 252,348 561,439 426,072 978,310 206,694 3,127,340 
Risk rating 486,206 108,516 96,811 558,844 278,939 561,388 240,408 1,931,112 
Risk rating 5239 664 1,392 13,790 — 23,161 — 39,246 
Risk rating 611,983 33,432 1,735 40,615 6,407 97,516 — 191,688 
Risk rating 7— — 425 — — — — 425 
Risk rating 8— — — — — — — — 
Total non-farm/non-residential590,656 352,861 352,711 1,174,688 711,418 1,660,676 447,102 5,290,112 
Construction/land development
Risk rating 1$— $— $— $— $8 $— $— $8 
Risk rating 2376 93 129 — — 120 — 718 
Risk rating 3739,449 863,012 181,685 108,648 23,610 54,423 68,558 2,039,385 
Risk rating 463,720 201,687 56,444 143,542 14,648 20,780 163,294 664,115 
Risk rating 5— — — 16,024 — — — 16,024 
Risk rating 6— 4,584 275 512 536 836 — 6,743 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total construction/land development803,545 1,069,376 238,533 268,726 38,802 76,159 231,852 2,726,993 
Agricultural
Risk rating 1$— $— $— $1,169 $— $— $— $1,169 
Risk rating 2— — 225 — 1,012 — — 1,237 
Risk rating 325,875 20,454 16,985 24,312 11,587 37,628 48,561 185,402 
Risk rating 418,496 24,511 6,407 19,027 18,746 32,232 14,119 133,538 
Risk rating 5— — — 4,194 — 111 — 4,305 
Risk rating 6— 1,881 34 358 1,646 2,527 315 6,761 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total agricultural44,371 46,846 23,651 49,060 32,991 72,498 62,995 332,412 
Total commercial real estate loans$1,438,572 $1,469,083 $614,895 $1,492,474 $783,211 $1,809,333 $741,949 $8,349,517 
Residential real estate loans
Residential 1-4 family
Risk rating 1$— $— $— $— $— $83 $1 $84 
Risk rating 2— — 156 — — — 1 157 
Risk rating 3284,182 179,100 230,204 344,291 165,821 393,067 120,796 1,717,461 
Risk rating 414,704 36,409 14,293 53,960 100,597 73,643 83,482 377,088 
Risk rating 5331 — 684 653 981 5,599 101 8,349 
Risk rating 6117 667 4,143 8,520 4,481 12,693 574 31,195 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total residential 1-4 family299,334 216,176 249,480 407,424 271,880 485,085 204,955 2,134,334 
December 31, 2025
Term Loans Amortized Cost Basis by Origination Year
20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Multifamily residential
Risk rating 1$— $— $— $— $— $— $— $— 
Risk rating 2— — — — — — — — 
Risk rating 3237,328 55,087 58,077 141,548 29,736 104,185 9,189 635,150 
Risk rating 4897 663 199,306 197,414 10,767 23,742 29,872 462,661 
Risk rating 5— — — — 503 1,501 — 2,004 
Risk rating 6— — — 40,113 — 983 — 41,096 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total multifamily residential238,225 55,750 257,383 379,075 41,006 130,411 39,061 1,140,911 
Total real estate$1,976,131 $1,741,009 $1,121,758 $2,278,973 $1,096,097 $2,424,829 $985,965 $11,624,762 
Consumer
Risk rating 1$4,723 $2,974 $1,306 $970 $449 $1,191 $1,654 $13,267 
Risk rating 2— — — — — 217 — 217 
Risk rating 3277,176 216,183 150,202 153,393 140,454 255,252 1,218 1,193,878 
Risk rating 42,526 1,916 1,031 5,092 1,509 4,376 126 16,576 
Risk rating 5— — 114 464 200 1,146 — 1,924 
Risk rating 6778 12,570 6,296 1,504 246 5,322 28 26,744 
Risk rating 7— — — — — — — — 
Risk rating 8— — — 1,140 — — — 1,140 
Total consumer285,203 233,643 158,949 162,563 142,858 267,504 3,026 1,253,746 
Commercial and industrial
Risk rating 1$951 $3,241 $288 $364 $636 $20,727 $14,327 $40,534 
Risk rating 22 43 62 277 — 20 4,018 4,422 
Risk rating 3401,676 92,773 419,568 132,633 41,839 249,339 325,878 1,663,706 
Risk rating 480,245 33,265 50,968 41,099 23,792 58,246 152,751 440,366 
Risk rating 5— — 7 40 4,632 955 1,147 6,781 
Risk rating 6852 40,887 391 648 663 1,785 21,025 66,251 
Risk rating 7— — — — — — — — 
Risk rating 8— — 1 — 329 — 11 341 
Total commercial and industrial483,726 170,209 471,285 175,061 71,891 331,072 519,157 2,222,401 
Agricultural and other
Risk rating 1$214 $556 $344 $78 $16 $90 $948 $2,246 
Risk rating 2552 115 253 16 — — 2,159 3,095 
Risk rating 328,999 5,040 4,214 3,111 22,774 17,136 248,547 329,821 
Risk rating 446,091 8,734 1,127 34,328 3,925 28,167 123,570 245,942 
Risk rating 5— — — 1,222 11 — — 1,233 
Risk rating 6— 1,098 108 343 32 1,265 117 2,963 
Risk rating 7— — — — — — — — 
Risk rating 8— — — — — — — — 
Total agricultural and other75,856 15,543 6,046 39,098 26,758 46,658 375,341 585,300 
Total$2,820,916 $2,160,404 $1,758,038 $2,655,695 $1,337,604 $3,070,063 $1,883,489 $15,686,209 
The following table presents gross write-offs by origination date as of March 31, 2026 and December 31, 2025.
March 31, 2026
Gross Loan Write-Offs by Origination Year
20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Real estate
Commercial real estate loans
Non-farm/non-residential$— $— $453 $— $— $4 $— $457 
Construction/land development— — — — — — — — 
Agricultural— — — — — 1 — 1 
Residential real estate loans
Residential 1-4 family— — 40 110 9 234 — 393 
Total real estate— — 493 110 9 239 — 851 
Consumer— 2 6 5 64 — — 77 
Commercial and industrial— — 640 46 21 308 311 1,326 
Agricultural & other593 *— — 2 — — — 595 
Total$593 $2 $1,139 $163 $94 $547 $311 $2,849 
*The 2026 write-off consists entirely of overdrafts.
December 31, 2025
Gross Loan Write-Offs by Origination Year
20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Real estate
Commercial real estate loans
Non-farm/non-residential$— $5 $400 $47 $289 $2,293 $— $3,034 
Construction/land development— 18 11 — 41 — — 70 
Agricultural— — — — — — — — 
Residential real estate loans
Residential 1-4 family— 21 98 309 — 203 — 631 
Multifamily residential— — — — — — — — 
Total real estate— 44 509 356 330 2,496 — 3,735 
Consumer222 **82 628 613 277 458 41 2,321 
Commercial and industrial— 149 2,582 763 1,206 898 779 6,377 
Agricultural & other2,808 **2 — — — — — 2,810 
Total$3,030 $277 $3,719 $1,732 $1,813 $3,852 $820 $15,243 
**The 2025 write-offs primarily consist of overdrafts.
The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. The Company also evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following tables present the amortized cost of performing and nonperforming loans as of March 31, 2026 and December 31, 2025.
March 31, 2026
Term Loans Amortized Cost Basis by Origination Year
20262025202420232022PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing$81,461 $580,589 $412,089 $367,056 $1,112,001 $2,275,331 $474,258 $5,302,785 
Non-performing— — 32,076 1,161 27,349 32,158 — 92,744 
Total non-farm/non-residential
81,461 580,589 444,165 368,217 1,139,350 2,307,489 474,258 5,395,529 
Construction/land development
Performing$152,286 $908,104 $833,919 $207,409 $162,438 $101,576 $239,416 $2,605,148 
Non-performing— — 7,422 — 485 519 30 8,456 
Total construction/ land development
152,286 908,104 841,341 207,409 162,923 102,095 239,446 2,613,604 
Agricultural
Performing$3,663 $44,679 $46,031 $22,744 $42,553 $93,547 $67,431 $320,648 
Non-performing— — — — — 223 175 398 
Total agricultural3,663 44,679 46,031 22,744 42,553 93,770 67,606 321,046 
Total commercial real estate loans
$237,410 $1,533,372 $1,331,537 $598,370 $1,344,826 $2,503,354 $781,310 $8,330,179 
Residential real estate loans
Residential 1-4 family
Performing$78,297 $240,008 $216,513 $239,672 $380,696 $715,818 $201,417 $2,072,421 
Non-performing— 398 937 4,364 6,790 15,433 31 27,953 
Total residential 1-4 family
78,297 240,406 217,450 244,036 387,486 731,251 201,448 2,100,374 
Multifamily residential
Performing$1,912 $238,285 $217,541 $195,565 $368,655 $168,911 $30,595 $1,221,464 
Non-performing— — — — 10,363 812 — 11,175 
Total multifamily residential
1,912 238,285 217,541 195,565 379,018 169,723 30,595 1,232,639 
Total real estate$317,619 $2,012,063 $1,766,528 $1,037,971 $2,111,330 $3,404,328 $1,013,353 $11,663,192 
Consumer
Performing$56,151 $277,381 $224,285 $142,120 $151,643 $386,793 $4,170 $1,242,543 
Non-performing— 69 1,061 5,038 1,405 4,802 18 12,393 
Total consumer56,151 277,450 225,346 147,158 153,048 391,595 4,188 1,254,936 
Commercial and industrial
Performing$36,954 $468,411 $125,233 $173,221 $114,146 $393,553 $794,772 $2,106,290 
Non-performing— 917 41,272 564 438 2,016 20,770 65,977 
Total commercial and industrial36,954 469,328 166,505 173,785 114,584 395,569 815,542 2,172,267 
Agricultural and other
Performing$65,211 $19,648 $12,995 $5,550 $37,739 $65,134 $335,725 $542,002 
Non-performing— — 158 97 312 664 — 1,231 
Total agricultural and other65,211 19,648 13,153 5,647 38,051 65,798 335,725 543,233 
Total$475,935 $2,778,489 $2,171,532 $1,364,561 $2,417,013 $4,257,290 $2,168,808 $15,633,628 



December 31, 2025
Term Loans Amortized Cost Basis by Origination Year
20252024202320222021PriorRevolving Loans Amortized Cost BasisTotal
(In thousands)
Real estate:
Commercial real estate loans
Non-farm/non-residential
Performing$590,656 $319,429 $352,286 $1,147,293 $709,851 $1,629,945 $447,102 $5,196,562 
Non-performing— 33,432 425 27,395 1,567 30,731 — 93,550 
Total non-farm/non-residential
590,656 352,861 352,711 1,174,688 711,418 1,660,676 447,102 5,290,112 
Construction/land development
Performing$803,545 $1,065,095 $238,336 $268,292 $38,502 $75,522 $231,852 $2,721,144 
Non-performing— 4,281 197 434 300 637 — 5,849 
Total construction/land development
803,545 1,069,376 238,533 268,726 38,802 76,159 231,852 2,726,993 
Agricultural
Performing$44,371 $46,846 $23,651 $49,060 $32,991 $72,021 $62,983 $331,923 
Non-performing— — — — — 477 12 489 
Total agricultural44,371 46,846 23,651 49,060 32,991 72,498 62,995 332,412 
Total commercial real estate loans
$1,438,572 $1,469,083 $614,895 $1,492,474 $783,211 $1,809,333 $741,949 $8,349,517 
Residential real estate loans
Residential 1-4 family
Performing$299,149 $215,558 $244,767 $400,643 $267,493 $472,717 $204,605 $2,104,932 
Non-performing185 618 4,713 6,781 4,387 12,368 350 29,402 
Total residential 1-4 family
299,334 216,176 249,480 407,424 271,880 485,085 204,955 2,134,334 
Multifamily residential
Performing$238,225 $55,750 $257,383 $368,962 $41,006 $129,599 $39,061 $1,129,986 
Non-performing— — — 10,113 — 812 — 10,925 
Total multifamily residential
238,225 55,750 257,383 379,075 41,006 130,411 39,061 1,140,911 
Total real estate$1,976,131 $1,741,009 $1,121,758 $2,278,973 $1,096,097 $2,424,829 $985,965 $11,624,762 
Consumer
Performing$285,182 $232,580 $153,116 $160,625 $142,817 $262,786 $3,024 $1,240,130 
Non-performing21 1,063 5,833 1,938 41 4,718 2 13,616 
Total consumer285,203 233,643 158,949 162,563 142,858 267,504 3,026 1,253,746 
Commercial and industrial
Performing$482,817 $129,624 $471,177 $174,639 $71,256 $329,475 $499,046 $2,158,034 
Non-performing909 40,585 108 422 635 1,597 20,111 64,367 
Total commercial and industrial483,726 170,209 471,285 175,061 71,891 331,072 519,157 2,222,401 
Agricultural and other
Performing$75,856 $15,385 $5,938 $38,786 $26,715 $46,132 $375,264 $584,076 
Non-performing— 158 108 312 43 526 77 1,224 
Total agricultural and other75,856 15,543 6,046 39,098 26,758 46,658 375,341 585,300 
Total$2,820,916 $2,160,404 $1,758,038 $2,655,695 $1,337,604 $3,070,063 $1,883,489 $15,686,209 
Presentation of Troubled Debt Restructurings ("TDRs") by Class The following table presents the amortized cost basis of modified loans to borrowers experiencing financial difficulty by class and modification type at March 31, 2026 and December 31, 2025. 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.
March 31, 2026
Combination of Modifications
Term ExtensionInterest Rate ReductionPrincipal ReductionInterest OnlyInterest Rate Reduction and Term ExtensionTerm Extension and Interest OnlyTerm Extension and Principal ReductionPost-
Modification
Outstanding
Balance		Percentage of Total Class of Loans Receivable
(In thousands)
Real estate:
Commercial real estate loans
    Non-farm/non-residential$376 $31,869 $— $937 $328 $14,530 $— $48,040 0.89 %
    Construction/land development— — — 9 — — — 9 — 
Residential real estate loans
    Residential 1-4 family1,023 784 97 19 2,233 — 113 4,269 0.20 
Total real estate1,399 32,653 97 965 2,561 14,530 113 52,318 0.45 
Consumer— 3,161 — — — — — 3,161 0.25 
Commercial and industrial57 60,207 — — 243 — — 60,507 2.79 
Total$1,456 $96,021 $97 $965 $2,804 $14,530 $113 $115,986 0.74 %
December 31, 2025
Combination of Modifications
Term ExtensionInterest Rate ReductionPrincipal ReductionInterest OnlyInterest Rate Reduction and Term ExtensionPrincipal Reduction and Interest Rate ReductionTerm Extension and Interest OnlyTerm Extension and Principal ReductionPost-
Modification
Outstanding
Balance		Percentage of Total Class of Loans Receivable
(In thousands)
Real estate:
Commercial real estate loans
    Non-farm/non-residential$378 $31,869 $— $1,001 $330 $— $14,752 $— $48,330 0.91 %
    Construction/land development— — — 36 — — — — 36 — 
Residential real estate loans
    Residential 1-4 family1,033 1,018 99 20 2,300 — — 114 4,584 0.21 
Total real estate1,411 32,887 99 1,057 2,630 — 14,752 114 52,950 0.46 
Consumer— 2,938 — — — — — — 2,938 0.23 
Commercial and industrial58 59,585 — — 74 — — — 59,717 2.69 
Total$1,469 $95,410 $99 $1,057 $2,704 $— $14,752 $114 $115,605 0.74 %
Presentation of TDR's on Non-Accrual Status
The following table presents the amortized cost basis of loans that had a payment default during the three months ended March 31, 2026 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty.
March 31, 2026
Interest Rate ReductionCombination Interest Rate Reduction and Term Extension
(Dollars in thousands)
Real estate
Commercial real estate loans
Non-farm/non-residential$— $— 
Residential real estate loans
Residential 1-4 family61 597 
Total real estate61 597 
Consumer— — 
Commercial and industrial— — 
Total$61 $597 
Summary of Total Foreclosed Assets
The following is a presentation of total foreclosed assets as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
(In thousands)
Commercial real estate loans
Non-farm/non-residential$23,183 $23,433 
Construction/land development15,311 15,230 
Residential real estate loans
Residential 1-4 family2,380 1,168 
Total foreclosed assets held for sale$40,874 $39,831