v3.26.1
Loans and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2026
Receivables [Abstract]  
Schedule of Amounts Recognized in Balance Sheet

Loans in the accompanying consolidated balance sheets consisted of the following:

(Dollars in thousands)

 

March 31, 2026

 

 

December 31, 2025

 

Real estate loans:

 

 

 

 

 

 

Non-farm non-residential owner occupied

 

$

572,037

 

 

$

434,715

 

Non-farm non-residential non-owner occupied

 

 

929,598

 

 

 

710,401

 

Residential

 

 

543,804

 

 

 

333,419

 

Construction, development & other

 

 

894,767

 

 

 

823,353

 

Farmland

 

 

32,379

 

 

 

26,485

 

Commercial & industrial

 

 

2,182,864

 

 

 

1,906,616

 

Consumer

 

 

2,265

 

 

 

1,576

 

Municipal and other

 

 

93,744

 

 

 

158,186

 

 

 

5,251,458

 

 

 

4,394,751

 

Allowance for credit losses

 

 

(51,455

)

 

 

(43,949

)

Loans, net

 

$

5,200,003

 

 

$

4,350,802

 
Schedule of Non-accrual, Non-accrual Without Specifc ACL and Accruing Past Due Loans, Segregated by Class of Loans

Non-accrual loans, non-accrual loans without a specific ACL, and accruing loans past due 90 days or more segregated by class of loans were as follows:

 

 

March 31, 2026

 

 

December 31, 2025

 

(Dollars in thousands)

 

Non-accrual

 

 

Non-accrual loans with no ACL

 

 

Accruing loans
past due 90
days or more

 

 

Non-accrual

 

 

Non-accrual loans with no ACL

 

 

Accruing loans
past due 90
days or more

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential owner occupied

 

$

618

 

 

$

618

 

 

$

2,539

 

 

$

1,235

 

 

$

1,235

 

 

$

679

 

Non-farm non-residential non-owner occupied

 

 

17,140

 

 

 

17,140

 

 

 

915

 

 

 

99

 

 

 

99

 

 

 

5,503

 

Residential

 

 

374

 

 

 

203

 

 

 

2,760

 

 

 

387

 

 

 

209

 

 

 

2,023

 

Construction, development & other

 

 

603

 

 

 

603

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,847

 

Commercial & industrial

 

 

10,487

 

 

 

9,385

 

 

 

182

 

 

 

8,399

 

 

 

8,120

 

 

 

1,308

 

 

$

29,222

 

 

$

27,949

 

 

$

6,396

 

 

$

10,120

 

 

$

9,663

 

 

$

11,360

 
Schedule of Aging Past Due Loans, Segregated by Class of Loans

An age analysis of past due loans, segregated by class of loans, was as follows:

(Dollars in thousands)

 

30-59
days

 

 

60-89
days

 

 

Over 90
days

 

 

Total
past due

 

 

Total
current

 

 

Total
loans

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

$

4,311

 

 

$

2,975

 

 

$

3,157

 

 

$

10,443

 

 

$

561,594

 

 

$

572,037

 

Non-farm non-residential
   non-owner occupied

 

 

5,446

 

 

 

1,622

 

 

 

18,055

 

 

 

25,123

 

 

 

904,475

 

 

 

929,598

 

Residential

 

 

5,872

 

 

 

4,052

 

 

 

3,134

 

 

 

13,058

 

 

 

530,746

 

 

 

543,804

 

Construction,
   development & other

 

 

—

 

 

 

—

 

 

 

603

 

 

 

603

 

 

 

894,164

 

 

 

894,767

 

Farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

32,379

 

 

 

32,379

 

Commercial & industrial

 

 

9,527

 

 

 

4,116

 

 

 

10,669

 

 

 

24,312

 

 

 

2,158,552

 

 

 

2,182,864

 

Consumer

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,265

 

 

 

2,265

 

Municipal and other

 

 

90

 

 

 

—

 

 

 

—

 

 

 

90

 

 

 

93,654

 

 

 

93,744

 

 

$

25,246

 

 

$

12,765

 

 

$

35,618

 

 

$

73,629

 

 

$

5,177,829

 

 

$

5,251,458

 

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

$

5,695

 

 

$

816

 

 

$

1,914

 

 

$

8,425

 

 

$

426,290

 

 

$

434,715

 

Non-farm non-residential
   non-owner occupied

 

 

5,094

 

 

 

497

 

 

 

5,602

 

 

 

11,193

 

 

 

699,208

 

 

 

710,401

 

Residential

 

 

5,512

 

 

 

—

 

 

 

2,410

 

 

 

7,922

 

 

 

325,497

 

 

 

333,419

 

Construction,
   development & other

 

 

—

 

 

 

603

 

 

 

1,847

 

 

 

2,450

 

 

 

820,903

 

 

 

823,353

 

Farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

26,485

 

 

 

26,485

 

Commercial & industrial

 

 

3,517

 

 

 

558

 

 

 

9,707

 

 

 

13,782

 

 

 

1,892,834

 

 

 

1,906,616

 

Consumer

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,576

 

 

 

1,576

 

Municipal and other

 

 

60

 

 

 

24

 

 

 

—

 

 

 

84

 

 

 

158,102

 

 

 

158,186

 

 

$

19,878

 

 

$

2,498

 

 

$

21,480

 

 

$

43,856

 

 

$

4,350,895

 

 

$

4,394,751

 
Summary of Loans Modified for Borrowers Experiencing Financial Difficulty

For the three months ended March 31, 2026, no loans were modified for borrowers experiencing financial difficulty. One loan was modified for a borrower experiencing financial difficulty for the year ended December 31, 2025.

 

 

Loan modifications

 

(Dollars in thousands)

 

Number
 of
 loans

 

 

Post-
restructured
recorded
investment

 

 

Total Class of Financing Receivable

 

 

Principal Forgiveness

 

 

Adjusted
interest
rate

 

 

Payment
deferral

 

 

Combined
rate and
payment
deferral

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & industrial

 

 

1

 

 

 

2,812

 

 

 

0.1

%

 

 

—

 

 

 

14.0

%

 

 

—

 

 

 

—

 
Summary of Internal Ratings of Loans

The following tables summarize the Company’s internal ratings of its loans at March 31, 2026 and December 31, 2025:

(Dollars in thousands)

 

Pass

 

 

Special
Mention

 

 

Substandard

 

 

Purchased
Credit
Deteriorated

 

 

Doubtful

 

 

Total

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

$

554,608

 

 

$

2,655

 

 

$

12,299

 

 

$

2,475

 

 

$

—

 

 

$

572,037

 

Non-farm non-residential
   non-owner occupied

 

 

871,722

 

 

 

21,579

 

 

 

33,347

 

 

 

2,950

 

 

 

—

 

 

 

929,598

 

Residential

 

 

543,507

 

 

 

—

 

 

 

297

 

 

 

—

 

 

 

—

 

 

 

543,804

 

Construction,
   development & other

 

 

885,961

 

 

 

5,391

 

 

 

3,415

 

 

 

—

 

 

 

—

 

 

 

894,767

 

Farmland

 

 

31,622

 

 

 

—

 

 

 

757

 

 

 

—

 

 

 

—

 

 

 

32,379

 

Commercial & industrial

 

 

2,142,347

 

 

 

30,559

 

 

 

7,851

 

 

 

2,107

 

 

 

—

 

 

 

2,182,864

 

Consumer

 

 

2,233

 

 

 

32

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,265

 

Municipal and other

 

 

93,744

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

93,744

 

 

$

5,125,744

 

 

$

60,216

 

 

$

57,966

 

 

$

7,532

 

 

$

—

 

 

$

5,251,458

 

 

(Dollars in thousands)

 

Pass

 

 

Special
Mention

 

 

Substandard

 

 

Doubtful

 

 

Total

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

$

414,506

 

 

$

6,725

 

 

$

13,484

 

 

$

—

 

 

$

434,715

 

Non-farm non-residential
   non-owner occupied

 

 

689,381

 

 

 

4,619

 

 

 

16,401

 

 

 

—

 

 

 

710,401

 

Residential

 

 

333,055

 

 

 

—

 

 

 

364

 

 

 

—

 

 

 

333,419

 

Construction,
   development & other

 

 

819,938

 

 

 

—

 

 

 

3,415

 

 

 

—

 

 

 

823,353

 

Farmland

 

 

25,719

 

 

 

766

 

 

 

—

 

 

 

—

 

 

 

26,485

 

Commercial & industrial

 

 

1,863,861

 

 

 

34,836

 

 

 

7,919

 

 

 

—

 

 

 

1,906,616

 

Consumer

 

 

1,542

 

 

 

34

 

 

 

—

 

 

 

—

 

 

 

1,576

 

Municipal and other

 

 

158,186

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

158,186

 

 

$

4,306,188

 

 

$

46,980

 

 

$

41,583

 

 

$

—

 

 

$

4,394,751

 

 

The following tables summarize the Company's loans by risk grades, loan class and vintage, at March 31, 2026 and December 31, 2025:

 

 

Term Loans Amortized Cost Basis by Origination Year

 

 

Revolving Loans Amortized

 

 

 

 

(Dollars in thousands)

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior Years

 

 

Cost Basis

 

 

Total

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

25,195

 

 

$

122,660

 

 

$

80,171

 

 

$

44,404

 

 

$

95,087

 

 

$

166,974

 

 

$

20,117

 

 

$

554,608

 

Special Mention

 

 

—

 

 

 

2,655

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,655

 

Substandard

 

 

290

 

 

 

1,878

 

 

 

—

 

 

 

—

 

 

 

4,095

 

 

 

6,036

 

 

 

—

 

 

 

12,299

 

Purchased Credit Deteriorated

 

 

—

 

 

 

—

 

 

 

2,475

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,475

 

Total Non-Farm non-residential owner-occupied

 

$

25,485

 

 

$

127,193

 

 

$

82,646

 

 

$

44,404

 

 

$

99,182

 

 

$

173,010

 

 

$

20,117

 

 

$

572,037

 

Non-farm non-residential
   non-owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

61,510

 

 

$

250,271

 

 

$

108,453

 

 

$

72,304

 

 

$

173,051

 

 

$

184,138

 

 

$

21,995

 

 

$

871,722

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

18,963

 

 

 

2,616

 

 

 

—

 

 

 

21,579

 

Substandard

 

 

—

 

 

 

26,876

 

 

 

90

 

 

 

—

 

 

 

—

 

 

 

6,381

 

 

 

—

 

 

 

33,347

 

Purchased Credit Deteriorated

 

 

2,950

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,950

 

Total Non-Farm non-residential non owner-occupied

 

$

64,460

 

 

$

277,147

 

 

$

108,543

 

 

$

72,304

 

 

$

192,014

 

 

$

193,135

 

 

$

21,995

 

 

$

929,598

 

Residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

30,537

 

 

$

84,888

 

 

$

55,946

 

 

$

83,706

 

 

$

139,919

 

 

$

99,815

 

 

$

48,696

 

 

$

543,507

 

Substandard

 

 

—

 

 

 

72

 

 

 

—

 

 

 

—

 

 

 

203

 

 

 

22

 

 

 

—

 

 

 

297

 

Total Residential

 

$

30,537

 

 

$

84,960

 

 

$

55,946

 

 

$

83,706

 

 

$

140,122

 

 

$

99,837

 

 

$

48,696

 

 

$

543,804

 

Construction,
   development & other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

19,501

 

 

$

167,342

 

 

$

87,811

 

 

$

42,872

 

 

$

9,772

 

 

$

8,332

 

 

$

550,331

 

 

$

885,961

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,391

 

 

 

—

 

 

 

—

 

 

 

5,391

 

Substandard

 

 

—

 

 

 

3,415

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,415

 

Total Construction, development & other

 

$

19,501

 

 

$

170,757

 

 

$

87,811

 

 

$

42,872

 

 

$

15,163

 

 

$

8,332

 

 

$

550,331

 

 

$

894,767

 

Farmland

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

7,332

 

 

$

2,317

 

 

$

3,153

 

 

$

8,216

 

 

$

8,059

 

 

$

1,479

 

 

$

1,066

 

 

$

31,622

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

757

 

 

 

—

 

 

 

757

 

Total Farmland

 

$

7,332

 

 

$

2,317

 

 

$

3,153

 

 

$

8,216

 

 

$

8,059

 

 

$

2,236

 

 

$

1,066

 

 

$

32,379

 

Commercial & industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

58,352

 

 

$

409,825

 

 

$

91,925

 

 

$

64,774

 

 

$

71,951

 

 

$

34,821

 

 

$

1,410,699

 

 

$

2,142,347

 

Special Mention

 

 

—

 

 

 

1,779

 

 

 

796

 

 

 

8,374

 

 

 

173

 

 

 

—

 

 

 

19,437

 

 

 

30,559

 

Substandard

 

 

—

 

 

 

58

 

 

 

302

 

 

 

2,843

 

 

 

786

 

 

 

362

 

 

 

3,500

 

 

 

7,851

 

Purchased Credit Deteriorated

 

 

—

 

 

 

467

 

 

 

206

 

 

 

—

 

 

 

1,392

 

 

 

—

 

 

 

42

 

 

 

2,107

 

Total Commercial & industrial

 

$

58,352

 

 

$

412,129

 

 

$

93,229

 

 

$

75,991

 

 

$

74,302

 

 

$

35,183

 

 

$

1,433,678

 

 

$

2,182,864

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

32

 

 

$

986

 

 

$

153

 

 

$

494

 

 

$

152

 

 

$

416

 

 

$

—

 

 

$

2,233

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

32

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

32

 

Total Consumer

 

$

32

 

 

$

986

 

 

$

153

 

 

$

526

 

 

$

152

 

 

$

416

 

 

$

—

 

 

$

2,265

 

Municipal and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

392

 

 

$

5,452

 

 

$

89

 

 

$

18,252

 

 

$

2,846

 

 

$

309

 

 

$

66,404

 

 

$

93,744

 

Total Municipal and other

 

$

392

 

 

$

5,452

 

 

$

89

 

 

$

18,252

 

 

$

2,846

 

 

$

309

 

 

$

66,404

 

 

$

93,744

 

Total Loans

 

$

206,091

 

 

$

1,080,941

 

 

$

431,570

 

 

$

346,271

 

 

$

531,840

 

 

$

512,458

 

 

$

2,142,287

 

 

$

5,251,458

 

 

 

 

Term Loans Amortized Cost Basis by Origination Year

 

 

Revolving Loans Amortized

 

 

 

 

(Dollars in thousands)

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior Years

 

 

Cost Basis

 

 

Total

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

100,756

 

 

$

64,629

 

 

$

23,658

 

 

$

64,818

 

 

$

81,912

 

 

$

63,195

 

 

$

15,538

 

 

$

414,506

 

Special Mention

 

 

4,013

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,284

 

 

 

1,428

 

 

 

—

 

 

 

6,725

 

Substandard

 

 

1,017

 

 

 

—

 

 

 

87

 

 

 

4,103

 

 

 

4,115

 

 

 

4,162

 

 

 

—

 

 

 

13,484

 

Total Non-Farm non-residential owner-occupied

 

$

105,786

 

 

$

64,629

 

 

$

23,745

 

 

$

68,921

 

 

$

87,311

 

 

$

68,785

 

 

$

15,538

 

 

$

434,715

 

Non-farm non-residential
   non-owner occupied

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

220,305

 

 

$

74,690

 

 

$

63,540

 

 

$

153,972

 

 

$

122,038

 

 

$

30,599

 

 

$

24,237

 

 

$

689,381

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,976

 

 

 

—

 

 

 

2,643

 

 

 

—

 

 

 

4,619

 

Substandard

 

 

9,856

 

 

 

100

 

 

 

—

 

 

 

—

 

 

 

6,161

 

 

 

284

 

 

 

—

 

 

 

16,401

 

Total Non-Farm non-residential non owner-occupied

 

$

230,161

 

 

$

74,790

 

 

$

63,540

 

 

$

155,948

 

 

$

128,199

 

 

$

33,526

 

 

$

24,237

 

 

$

710,401

 

Residential

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

65,081

 

 

$

39,057

 

 

$

72,387

 

 

$

74,976

 

 

$

56,620

 

 

$

18,219

 

 

$

6,715

 

 

$

333,055

 

Substandard

 

 

73

 

 

 

82

 

 

 

—

 

 

 

209

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

364

 

Total Residential

 

$

65,154

 

 

$

39,139

 

 

$

72,387

 

 

$

75,185

 

 

$

56,620

 

 

$

18,219

 

 

$

6,715

 

 

$

333,419

 

Construction,
   development & other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

116,531

 

 

$

79,226

 

 

$

73,153

 

 

$

59,248

 

 

$

3,624

 

 

$

3,724

 

 

$

484,432

 

 

$

819,938

 

Substandard

 

 

3,415

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,415

 

Total Construction, development & other

 

$

119,946

 

 

$

79,226

 

 

$

73,153

 

 

$

59,248

 

 

$

3,624

 

 

$

3,724

 

 

$

484,432

 

 

$

823,353

 

Farmland

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

2,653

 

 

$

3,172

 

 

$

7,206

 

 

$

6,720

 

 

$

210

 

 

$

671

 

 

$

5,087

 

 

$

25,719

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

766

 

 

 

—

 

 

 

—

 

 

 

766

 

Total Farmland

 

$

2,653

 

 

$

3,172

 

 

$

7,206

 

 

$

6,720

 

 

$

976

 

 

$

671

 

 

$

5,087

 

 

$

26,485

 

Commercial & industrial

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

391,690

 

 

$

120,852

 

 

$

66,291

 

 

$

64,184

 

 

$

30,736

 

 

$

9,585

 

 

$

1,180,523

 

 

$

1,863,861

 

Special Mention

 

 

914

 

 

 

870

 

 

 

8,526

 

 

 

252

 

 

 

—

 

 

 

97

 

 

 

24,177

 

 

 

34,836

 

Substandard

 

 

70

 

 

 

1,236

 

 

 

2,951

 

 

 

742

 

 

 

249

 

 

 

387

 

 

 

2,284

 

 

 

7,919

 

Total Commercial & industrial

 

$

392,674

 

 

$

122,958

 

 

$

77,768

 

 

$

65,178

 

 

$

30,985

 

 

$

10,069

 

 

$

1,206,984

 

 

$

1,906,616

 

Consumer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

804

 

 

$

102

 

 

$

354

 

 

$

177

 

 

$

10

 

 

$

95

 

 

$

—

 

 

$

1,542

 

Special Mention

 

 

—

 

 

 

—

 

 

 

34

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

34

 

Total Consumer

 

$

804

 

 

$

102

 

 

$

388

 

 

$

177

 

 

$

10

 

 

$

95

 

 

$

—

 

 

$

1,576

 

Municipal and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

36,101

 

 

$

73

 

 

$

19,347

 

 

$

3,410

 

 

$

560

 

 

$

19

 

 

$

98,676

 

 

$

158,186

 

Total Municipal and other

 

$

36,101

 

 

$

73

 

 

$

19,347

 

 

$

3,410

 

 

$

560

 

 

$

19

 

 

$

98,676

 

 

$

158,186

 

Total Loans

 

$

953,279

 

 

$

384,089

 

 

$

337,534

 

 

$

434,787

 

 

$

308,285

 

 

$

135,108

 

 

$

1,841,669

 

 

$

4,394,751

 

 

The following tables summarize the Company's gross charge-offs by origination year and loan class for the three months ended March 31, 2026 and the year ended December 31, 2025.

 

 

 

Gross Charge-offs by Origination Year

 

 

Revolving Loans Amortized

 

 

 

 

(Dollars in thousands)

 

2026

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

Prior Years

 

 

Cost Basis

 

 

Total

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Municipal and other

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

(26

)

 

$

—

 

 

$

—

 

 

$

(26

)

Total Charge-Offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

(26

)

 

$

—

 

 

$

—

 

 

$

(26

)

 

 

 

Gross Charge-offs by Origination Year

 

 

Revolving Loans Amortized

 

 

 

 

(Dollars in thousands)

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior Years

 

 

Cost Basis

 

 

Total

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial & industrial

 

$

—

 

 

$

(72

)

 

$

(43

)

 

$

(1,785

)

 

$

—

 

 

$

(385

)

 

$

(1,819

)

 

$

(4,104

)

Municipal and other

 

 

—

 

 

 

—

 

 

 

(4

)

 

 

(30

)

 

 

—

 

 

 

(10

)

 

 

—

 

 

 

(44

)

Total Charge-Offs

 

$

—

 

 

$

(72

)

 

$

(47

)

 

$

(1,815

)

 

$

—

 

 

$

(395

)

 

$

(1,819

)

 

$

(4,148

)
Schedule of Allowance for Credit Losses

The following tables detail the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2026 and 2025:

(Dollars in thousands)

 

Beginning
Balance

 

 

Initial
Allowance on Acquired Loans

 

 

Provision for Credit Losses on Loans

 

 

Charge-offs

 

 

Recoveries

 

 

Ending
Balance

 

Three Months Ended March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

$

2,337

 

 

$

794

 

 

$

455

 

 

$

—

 

 

$

—

 

 

$

3,586

 

Non-farm non-residential
   non-owner occupied

 

 

4,843

 

 

 

1,868

 

 

 

(462

)

 

 

—

 

 

 

—

 

 

 

6,249

 

Residential

 

 

2,008

 

 

 

1,489

 

 

 

126

 

 

 

—

 

 

 

—

 

 

 

3,623

 

Construction, development & other

 

 

6,955

 

 

 

487

 

 

 

(381

)

 

 

—

 

 

 

—

 

 

 

7,061

 

Farmland

 

 

116

 

 

 

21

 

 

 

32

 

 

 

—

 

 

 

—

 

 

 

169

 

Commercial & industrial

 

 

26,673

 

 

 

2,121

 

 

 

1,140

 

 

 

—

 

 

 

31

 

 

 

29,965

 

Consumer

 

 

6

 

 

 

5

 

 

 

1

 

 

 

—

 

 

 

—

 

 

 

12

 

Municipal and other

 

 

1,011

 

 

 

1

 

 

 

(196

)

 

 

(26

)

 

 

—

 

 

 

790

 

 

 

$

43,949

 

 

$

6,786

 

 

$

715

 

 

$

(26

)

 

$

31

 

 

$

51,455

 

 

 

(Dollars in thousands)

 

Beginning
Balance

 

 

Provision for Credit Losses on Loans

 

 

Charge-offs

 

 

Recoveries

 

 

Ending
Balance

 

Three Months Ended March 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential
   owner occupied

 

$

3,015

 

 

$

(200

)

 

$

—

 

 

$

—

 

 

$

2,815

 

Non-farm non-residential
   non-owner occupied

 

 

4,460

 

 

 

(687

)

 

 

—

 

 

 

350

 

 

 

4,123

 

Residential

 

 

2,014

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

2,021

 

Construction, development & other

 

 

14,728

 

 

 

(237

)

 

 

—

 

 

 

—

 

 

 

14,491

 

Farmland

 

 

187

 

 

 

(9

)

 

 

—

 

 

 

—

 

 

 

178

 

Commercial & industrial

 

 

15,370

 

 

 

1,797

 

 

 

(810

)

 

 

62

 

 

 

16,419

 

Consumer

 

 

10

 

 

 

(3

)

 

 

—

 

 

 

—

 

 

 

7

 

Municipal and other

 

 

520

 

 

 

(118

)

 

 

—

 

 

 

—

 

 

 

402

 

 

 

$

40,304

 

 

$

550

 

 

$

(810

)

 

$

412

 

 

$

40,456

 
Schedule of Allowance for Credit Losses on Amortized Cost Basis of Collateral Dependent With and Without Specific Reserves Assessed Individually for Credit Losses

The following tables present the amortized cost basis of collateral dependent loans and the collateral type which have been assessed individually for credit losses:

(Dollars in thousands)

 

Real Estate

 

 

Business Assets

 

 

Other

 

 

Total

 

March 31, 2026

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential owner occupied

 

$

3,698

 

 

$

—

 

 

$

—

 

 

$

3,698

 

Non-farm non-residential non-owner occupied

 

 

20,090

 

 

 

—

 

 

 

—

 

 

 

20,090

 

Residential

 

 

374

 

 

 

—

 

 

 

—

 

 

 

374

 

Construction, development & other

 

 

603

 

 

 

—

 

 

 

—

 

 

 

603

 

Commercial & industrial

 

 

—

 

 

 

9,163

 

 

 

1,232

 

 

 

10,395

 

 

 

$

24,765

 

 

$

9,163

 

 

$

1,232

 

 

$

35,160

 

 

December 31, 2025

 

 

 

 

 

 

 

 

 

 

 

 

Real estate loans:

 

 

 

 

 

 

 

 

 

 

 

 

Non-farm non-residential owner occupied

 

$

1,235

 

 

$

—

 

 

$

—

 

 

$

1,235

 

Non-farm non-residential non-owner occupied

 

 

99

 

 

 

—

 

 

 

—

 

 

 

99

 

Residential

 

 

387

 

 

 

—

 

 

 

—

 

 

 

387

 

Commercial & industrial

 

 

—

 

 

 

5,893

 

 

 

2,153

 

 

 

8,046

 

 

 

$

1,721

 

 

$

5,893

 

 

$

2,153

 

 

$

9,767

 
Summary of Acquisitions of Loans at Fair Value

In connection with the February 1, 2026 acquisition of loans from Keystone Bancshares, Inc. and its subsidiary, Keystone Bank, SSB, the PCD loan portfolio was accounted for at fair value as follows:

Contractual required payments

 

$

8,235

 

Non-accretable difference (expected loss)

 

 

1,029

 

Cash flows expected to be collected at acquisition

 

 

7,206

 

Accretable yield

 

 

708

 

Basis in acquired Keystone Bank, SSB PCD loans

 

$

6,498

 
Schedule of Gross Contractual Amounts Receivable Balances

The following table presents the gross contractual amounts receivable balances, by portfolio segment, and the carrying amount of PCD loans:

(Dollars in thousands)

 

March 31, 2026

 

 

Real estate loans:

 

 

 

 

Non-farm non-residential owner occupied

 

$

2,980

 

 

Non-farm non-residential non-owner occupied

 

 

2,989

 

 

Commercial & industrial

 

 

2,263

 

 

Total outstanding balances

 

$

8,232

 

 

Carrying amount

 

$

7,532

 

 
Summary of Accretable Yield or Income Expected to be Collected

Accretable yield, or income expected to be collected on PCD loans was as follows:

(Dollars in thousands)

 

March 31, 2026

 

 

Balance at beginning of year

 

$

—

 

 

New loans acquired from Keystone Bank, SSB acquisition

 

 

708

 

 

Accretion of income

 

 

(8

)

 

Balance at end of period

 

$

700