v3.26.1
Loans and Allowances for Credit Losses
 3 Months Ended
Mar. 31, 2026
Loans and Leases Receivable, Net Amount [Abstract]  
Loans [Text Block] Loans and Allowances for Credit Losses
Loans

Loans are either secured or unsecured based on the type of loan and the financial condition of the borrower. Repayment is generally expected from cash flow or proceeds from the sale of selected assets of the borrower. BOK Financial is exposed to risk of loss on loans due to the borrower's difficulties, which may arise from any number of factors, including problems within the respective industry or local economic conditions. Access to collateral, in the event of borrower default, is reasonably assured through adherence to applicable lending laws and through sound lending standards and credit review procedures. Accounting policies for all loans, excluding residential mortgage loans guaranteed by U.S. government agencies, are as follows:

Interest is accrued at the applicable interest rate on the outstanding principal amount. Loans are placed on nonaccruing status when, in the opinion of management, full collection of principal or interest is uncertain. Internally risk-graded loans are individually evaluated for nonaccruing status quarterly. Non-risk graded loans are generally placed on nonaccruing status when 90 days or more past due or within 60 days of being notified of the borrower's bankruptcy filing. Interest previously accrued but not collected is charged against interest income when the loan is placed on nonaccruing status. Accrued but not paid interest receivable is included in Receivables in the Consolidated Balance Sheets. Payments received on nonaccruing loans are applied to principal or recognized as interest income, according to management's judgment as to the collectability of principal. Loans may be returned to accruing status when, in the opinion of management, full collection of principal and interest, including principal previously charged off, is probable based on improvements in the borrower's financial condition or a sustained period of performance.

For loans acquired with no evidence of credit deterioration, discounts are accreted on either an individual basis for loans with unique characteristics or on a pool basis for groups of homogeneous loans. Accretion is discontinued when a loan with an individually attributed discount is placed on nonaccruing status.

Modifications of loans to existing borrowers generally consist of interest rate reductions, extension of payment terms, or a combination of these. Modifications may arise either voluntarily through negotiations with the borrower or involuntarily through court order. Payment deferrals up to six months are generally considered to be short-term modifications. Generally, principal and accrued, but unpaid, interest are not voluntarily forgiven. A change to the allowance for credit losses is generally not recorded upon modification because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance methodology.

Performing loans may be renewed under the then-current collateral value, debt service ratio, and other underwriting standards. Nonaccruing loans may be renewed and will remain classified as nonaccruing. 
Occasionally, loans, other than residential mortgage loans, may be held for sale in order to manage credit concentration. These loans are carried at the lower of cost or fair value, with gains or losses recognized in Other operating revenue - Other gains (losses), net in the Consolidated Statements of Earnings.

All loans are charged off when the loan balance or a portion of the loan balance is no longer supported by the paying capacity of the borrower or when the required cash flow is reduced in a modification. The charge-off amount is determined through a quarterly evaluation of available cash resources and collateral values. Internally risk graded loans are evaluated quarterly, and charge-offs are taken in the quarter in which the loss is identified. Non-risk graded loans that are past due between 60 days and 180 days, based on the loan product type, are charged off. Loans to borrowers whose personal obligation has been discharged through Chapter 7 bankruptcy proceedings are charged off within 60 days of notice of the bankruptcy filing, regardless of payment status.

Loan origination and commitment fees and direct loan acquisition and origination costs are deferred and amortized as an adjustment to yield over the life of the loan or over the commitment period, as applicable. Amortization does not anticipate loan prepayments. Net unamortized fees are recognized in full at time of payoff.

Qualifying residential mortgage loans guaranteed by U.S. government agencies have been sold into GNMA pools. Under certain performance conditions specified in government programs, the Company may have the right, but not the obligation to repurchase loans from GNMA pools. These loans no longer qualify for sale accounting and are recognized in the Consolidated Balance Sheets. We do not expect to receive all principal and interest based on the loan's contractual terms. A portion of the principal balance continues to be guaranteed; however, interest accrues at a curtailed rate as specified in the programs. The carrying value of these loans is reduced based on an estimate of the expected cash flows discounted at the original note rate plus a liquidity spread. Guaranteed loans may be modified in accordance with U.S. government agency guidelines. Interest continues to accrue at the modified rate. Guaranteed loans may either be resold into GNMA pools after a performance period specified by the programs or foreclosed and conveyed to the guarantors.

Loans are disaggregated into portfolio segments and further disaggregated into classes. The portfolio segment is the level at which the Company develops and documents a systematic method for determining its allowance for credit losses. Classes are a further disaggregation of portfolio segments based on the risk characteristics of the loans and the Company's method for monitoring and assessing credit risk. 

Portfolio segments of the loan portfolio are as follows (in thousands):
 March 31, 2026December 31, 2025
Fixed
Rate		Variable
Rate		Non-accrualTotalFixed
Rate		Variable
Rate		Non-accrualTotal
Commercial$3,498,856 $12,048,961 $25,266 $15,573,083 $3,494,944 $11,750,021 $36,102 $15,281,067 
Commercial real estate
620,233 5,257,845 6,601 5,884,679 601,044 5,064,265 6,697 5,672,006 
Loans to individuals3,041,701 1,659,793 28,137 4,729,631 3,005,502 1,661,326 31,561 4,698,389 
Total$7,160,790 $18,966,599 $60,004 $26,187,393 $7,101,490 $18,475,612 $74,360 $25,651,462 

Credit Commitments
 
Commitments to extend credit are agreements to lend to a customer as long as there is no violation of conditions established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. At March 31, 2026, outstanding commitments totaled $16.2 billion. Because some commitments are expected to expire before being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. BOK Financial uses the same credit policies in making commitments as it does loans.

The amount of collateral obtained, if deemed necessary, is based upon management's credit evaluation of the borrower.

Standby letters of credit are conditional commitments issued to guarantee the performance of a customer to a third party. Because the credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loan commitments, BOK Financial uses the same credit policies in evaluating the creditworthiness of the customer. Additionally, BOK Financial uses the same evaluation process in obtaining collateral on standby letters of credit as it does for loan commitments. The term of these standby letters of credit is defined in each commitment and typically corresponds with the underlying loan commitment. At March 31, 2026, outstanding standby letters of credit totaled $617 million. 
Allowances for Credit Losses and Accrual for Off-balance Sheet Credit Risk from Unfunded Loans Commitments

The allowance for loan losses and accrual for off-balance sheet credit risk from unfunded loan commitments represent the portion of the amortized cost basis of loans and related unfunded commitments we do not expect to collect over the asset's contractual life, considering past events, current conditions, and reasonable and supportable forecasts of future economic conditions. The appropriateness of the allowance for credit losses, including industry and product adjustments, is assessed quarterly by a senior management Allowance Committee. This review is based on an ongoing evaluation of the estimated expected credit losses in the portfolio and on unused commitments to provide financing. A well-documented methodology has been developed and is applied by an independent Credit Administration department to assure consistency across the Company.

The allowance for loan losses consists of specific allowances attributed to certain individual loans, generally nonaccruing loans, with dissimilar risk characteristics that have not yet been charged down to amounts we expect to recover and general allowances for estimated credit losses on pools of loans that share similar risk characteristics.

When full collection of principal or interest is uncertain, the loan's risk characteristics have changed and we exclude the loan from the general allowance pool, typically designating it as nonaccruing. For these loans, a specific allowance reflects the expected credit loss.

We measure specific allowances for loans excluded from the general allowance pool by an evaluation of estimated future cash flows discounted at the loan's initial effective interest rate or the fair value of collateral for certain collateral dependent loans. For a non-collateral dependent loan, the specific allowance is the amount by which the loan's amortized cost basis exceeds its net realizable value. We measure the specific allowance for collateral dependent loans as the amount by which the loan's amortized cost basis exceeds its fair value. When repayment is expected to be provided substantially through the sale of collateral, we deduct estimated selling costs from the collateral's fair value. Generally, for real property held as collateral for loans, third-party appraisals that conform to Uniform Standards of Professional Appraisal Practice serve as the basis for the fair value of real property held as collateral. These appraised values are on an "as-is" basis and generally are not adjusted by the Company. We obtain updated appraisals at least annually or more frequently if market conditions indicate collateral values may have declined. For energy loans, our internal staff of engineers generally determines collateral value of mineral rights based on projected cash flows from proven oil and gas reserves under existing economic and operating conditions. For real property held as collateral for other loans, third-party appraisals that conform to Uniform Standards of Professional Appraisal Practice generally serve as the basis for the fair value. These appraised values are on an "as-is" basis and generally are not adjusted by the Company. We obtain updated appraisals at least annually or more frequently if market conditions indicate collateral values may have declined. Our special assets staff generally determines the value of other collateral based on projected liquidation cash flows under current market conditions. We evaluate collateral values and available cash resources quarterly. Historical statistics may be used to estimate specific allowances in limited situations, such as when a collateral dependent loan is removed from the general allowance pool near the end of a reporting period until an appraisal of collateral value is received or a full assessment of future cash flows is completed.

General allowances estimate expected credit losses on pools of loans sharing similar risk characteristics that are expected to occur over the loan's estimated remaining life. The loan's estimated remaining life represents the contractual term adjusted for amortization, estimates of prepayments, and borrower-owned extension options. Approximately 90% of the committed dollars in the loan portfolio are risk-graded loans with general allowance model inputs that include probability of default, loss given default, and exposure at default. Probability of default is based on the migration of loans from performing to nonperforming using historical life of loan analysis periods. Loss given default is based on the aggregate losses incurred, net of estimated recoveries. Exposure at default represents an estimate of the outstanding amount of credit exposure at the time a default may occur.

Charge-off migration is used to calculate the general allowance for the majority of non-risk graded loans to individuals. The expected credit loss on less than 10% of the committed dollars in the portfolio is calculated using charge-off migration.

The expected credit loss on approximately 1% of the committed dollars in the portfolio is calculated using a non-modeled approach. Specifically, the calculation applies a long-term net charge-off rate to the loan balances, adjusted for the weighted average remaining maturity of each portfolio.
    
In estimating the expected credit losses for general allowances on performing risk-graded loans, each portfolio class is assigned relevant economic loss drivers which best explain variations in portfolio net loss rates. The probability of default estimates for each portfolio class are adjusted for current and forecasted economic conditions. The result is applied to the exposure at default and loss given default to calculate the lifetime expected credit loss estimate. Selection of relevant economic loss drivers is re-evaluated periodically and involves statistical analysis as well as management judgment. The unemployment rate factors significantly in the allowance for loan losses calculation affecting commercial and loans to individuals segments. Other primary factors impacting the commercial portfolio include BBB corporate spreads, real gross domestic product growth rate, and energy commodity prices. The primary commercial real estate variables are vacancy rate and BBB corporate spreads. In addition to the unemployment rate, the forecast for loans to individuals is tied to a home price index. The forecasts may include regional economic factors when localized conditions diverge from national conditions.

An Economic Forecast Committee, consisting of senior management with members largely independent of the allowance process, develops a twelve-month forward-looking forecast for the relevant economic loss drivers. Management develops these forecasts based on external data as well as a view of future economic conditions which may include adjustments for regional conditions. The forecast includes three economic scenarios and probability weights for each scenario. The base forecast represents management's view of the most likely outcome, while the downside forecast reflects reasonably possible worsening economic conditions, and the upside forecast projects reasonably possible improving conditions.

At the end of the one-year reasonable and supportable forecast period, we transition from shorter-term expected losses to long-term loss averages for the loan's estimated remaining life. The difference between short-term loss forecasts and long-term loss averages is run-off over the reversion horizon, up to three years, depending on the forecasted economic scenarios.

General allowances also consider the estimated impact of factors that are not captured in the modeled results or historical experience. These factors may increase or decrease modeled results by amounts determined by the Allowance Committee. Factors not captured in modeled results or historical experience may include, for example, new lines of business, market conditions that have not been previously encountered, observed changes in credit risk that are not yet reflected in macro-economic factors, or economic conditions that impact loss given default assumptions.

The accrual for off-balance sheet credit risk is maintained at a level that is appropriate to cover estimated losses associated with credit instruments that are not currently recognized as assets such as loan commitments, standby letters of credit, or guarantees that are not unconditionally cancelable by the bank. This accrual is included in Other liabilities in the Consolidated Balance Sheets. The appropriateness of the accrual is determined in the same manner as the allowance for loan losses, with the added consideration of commitment usage over the remaining life for those loans that the bank cannot unconditionally cancel.

A provision for credit losses is charged against or credited to earnings in amounts necessary to maintain an appropriate allowance for credit losses. Recoveries of loans previously charged off are added to the allowance when received.

The activity in the allowance for loan losses and the allowance for off-balance sheet credit losses related to loan commitments and standby letters of credit is summarized as follows (in thousands):
Three Months Ended
March 31, 2026
 CommercialCommercial Real EstateLoans to IndividualsTotal
Allowance for loan losses:    
Beginning balance$137,225 $86,120 $52,515 $275,860 
Provision for loan losses(875)735 3,872 3,732 
Loans charged off(1,435)— (1,741)(3,176)
Recoveries of loans previously charged off
704 18 581 1,303 
Ending balance$135,619 $86,873 $55,227 $277,719 
Allowance for off-balance sheet credit risk from unfunded loan commitments:
Beginning balance$19,723 $30,086 $1,462 $51,271 
Provision for off-balance sheet credit risk
(1,779)(4,324)169 (5,934)
Ending balance$17,944 $25,762 $1,631 $45,337 
Three Months Ended
March 31, 2025
 CommercialCommercial Real EstateLoans to IndividualsTotal
Allowance for loan losses:    
Beginning balance$145,153 $91,072 $43,810 $280,035 
Provision for loan losses(855)2,467 (1,948)(336)
Loans charged off(1,085)— (1,206)(2,291)
Recoveries of loans previously charged off
292 185 709 1,186 
Ending balance$143,505 $93,724 $41,365 $278,594 
Allowance for off-balance sheet credit risk from unfunded loan commitments:
Beginning balance$18,046 $31,959 $1,635 $51,640 
Provision for off-balance sheet credit risk
(1,879)1,502 825 448 
Ending balance$16,167 $33,461 $2,460 $52,088 
No provision for credit losses was necessary for the first quarter of 2026. The favorable impact of higher projected oil prices on our energy loan portfolio and improved credit quality was offset by loan growth and a slight downward revision to economic forecast assumptions compared to the prior quarter.

The allowance for loan losses and recorded investment of the related loans by portfolio segment for each impairment measurement method at March 31, 2026, is as follows (in thousands):
 Collectively Measured
for General Allowances		Individually Measured
for Specific Allowances		Total
 Recorded InvestmentRelated AllowanceRecorded InvestmentRelated AllowanceRecorded InvestmentRelated
Allowance
Commercial$15,547,817 $132,538 $25,266 $3,081 $15,573,083 $135,619 
Commercial real estate5,878,078 86,873 6,601 — 5,884,679 86,873 
Loans to individuals4,701,494 55,227 28,137 — 4,729,631 55,227 
Total$26,127,389 $274,638 $60,004 $3,081 $26,187,393 $277,719 

The allowance for loan losses and recorded investment of the related loans by portfolio segment for each measurement method at December 31, 2025, is as follows (in thousands):

 Collectively Measured
for General Allowances		Individually Measured
for Specific Allowances		Total
 Recorded InvestmentRelated AllowanceRecorded InvestmentRelated AllowanceRecorded InvestmentRelated
Allowance
Commercial$15,244,965 $133,232 $36,102 $3,993 $15,281,067 $137,225 
Commercial real estate5,665,309 83,925 6,697 2,195 5,672,006 86,120 
Loans to individuals4,666,828 52,515 31,561 — 4,698,389 52,515 
Total$25,577,102 $269,672 $74,360 $6,188 $25,651,462 $275,860 

Credit Quality Indicators

The Company utilizes risk grading as primary credit quality indicators as it influences the probability of default which is a key attribute in the expected credit losses calculation. Substantially all commercial as well as commercial real estate loans and certain loans to individuals are risk graded based on a quarterly evaluation of the borrowers' ability to repay the loans. Certain commercial loans and most loans to individuals are small, homogeneous pools that are not risk graded. The credit quality of these loans is based on past due days in accordance with regulatory guidelines.
We have included in the credit quality indicator "pass" loans that are in compliance with the original terms of the agreement and currently exhibit no factors that cause management to have doubts about the borrowers' ability to remain in compliance with the original terms of the agreement, which is consistent with the regulatory guideline of "pass." This also includes past due residential mortgages that are guaranteed by agencies of the U.S. government that continue to accrue interest based on criteria of the guarantors' programs.

Other loans especially mentioned ("Special Mention") are currently performing in compliance with the original terms of the agreement but may have a potential weakness that deserves management's close attention, consistent with regulatory guidelines. Non-graded loans 30 to 59 days past due are categorized as Special Mention.

The risk grading process identifies certain loans that have a well-defined weakness (for example, inadequate debt service coverage or liquidity or marginal capitalization; repayment may depend on collateral or other risk mitigation) that may jeopardize liquidation of the debt and represent a greater risk due to deterioration in the financial condition of the borrower. This is consistent with the regulatory guideline for "substandard." Because the borrowers are still performing in accordance with the original terms of the loan agreements, these loans remain on accruing status. Non-graded loans 60 to 89 days past due are categorized as Accruing Substandard.

Nonaccruing loans represent loans for which full collection of principal and interest is uncertain. This includes certain loans considered "substandard" and all loans considered "doubtful" by regulatory guidelines. Non-graded loans 90 or more days past due are categorized as Nonaccrual.

The probability of default is lowest for pass graded loans and increases for Special Mention and Accruing Substandard.

Vintage represents the year of origination, except for revolving loans which are considered in aggregate. Loans that were once revolving but have converted to term loans without additional underwriting appear in a separate vintage column.
The following table summarizes the Company’s loan portfolio at March 31, 2026, by the risk grade categories and vintage (in thousands): 
Origination Year
20262025202420232022PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
Commercial:
Healthcare
Pass$155,216 $1,138,937 $472,763 $376,144 $731,332 $687,121 $229,654 $6 $3,791,173 
Special Mention— — — — 9,145 92 4 — 9,241 
Accruing Substandard175 1,493 9,048 37,340 3,761 82,394 — — 134,211 
Nonaccrual— — 1,188 14,850 — 5,100 — — 21,138 
Total healthcare155,391 1,140,430 482,999 428,334 744,238 774,707 229,658 6 3,955,763 
Services
Pass171,749 628,978 420,476 453,455 371,438 799,631 939,073 413 3,785,213 
Special Mention— 980 3,098 1,151 — 21,941 67,320 — 94,490 
Accruing Substandard— 5,783 210 7,118 1,397 5,359 1,103 — 20,970 
Nonaccrual— 393 29 — 838 — — — 1,260 
Total services171,749 636,134 423,813 461,724 373,673 826,931 1,007,496 413 3,901,933 
Loans charged off, year-to-date— — — — — — 1,043 — 1,043 
Energy
Pass30,815 125,973 55,855 43,546 10,128 13,926 2,725,450 — 3,005,693 
Total energy30,815 125,973 55,855 43,546 10,128 13,926 2,725,450 — 3,005,693 
Mortgage finance
Pass— 7,553 — 14,386 — — 206,303 — 228,242 
Total mortgage finance— 7,553 — 14,386 — — 206,303 — 228,242 
General business
Pass192,261 818,635 352,154 322,276 177,623 463,486 2,031,723 1,176 4,359,334 
Special Mention542 15,137 2,334 13,452 3,455 8,574 39,428 156 83,078 
Accruing Substandard3,035 14,789 3,692 5,488 4,452 1,799 2,917 — 36,172 
Nonaccrual— — — — — 2,797 62 9 2,868 
Total general business195,838 848,561 358,180 341,216 185,530 476,656 2,074,130 1,341 4,481,452 
Loans charged off, year-to-date6 — — — — — 386 — 392 
Total commercial553,793 2,758,651 1,320,847 1,289,206 1,313,569 2,092,220 6,243,037 1,760 15,573,083 
Origination Year
20262025202420232022PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
Commercial real estate:
Pass221,026 1,086,536 1,022,175 437,206 1,532,095 1,393,964 109,487 — 5,802,489 
Special Mention— — 1,514 17,219 6,378 2,166 — — 27,277 
Accruing Substandard29 — 482 — 1,065 46,736 — — 48,312 
Nonaccrual— — — — — 6,601 — — 6,601 
Total commercial real estate221,055 1,086,536 1,024,171 454,425 1,539,538 1,449,467 109,487 — 5,884,679 
Loans to individuals:
Residential mortgage
Pass131,859 542,791 378,919 245,780 239,314 706,700 477,756 31,967 2,755,086 
Special Mention— — — 92 137 5,313 803 1,153 7,498 
Accruing Substandard— — — 74 — 27 266 1,008 1,375 
Nonaccrual— 299 1,345 2,514 1,920 8,262 5,099 736 20,175 
Total residential mortgage131,859 543,090 380,264 248,460 241,371 720,302 483,924 34,864 2,784,134 
Loans charged off, year-to-date— — — — — 3 — — 3 
Residential mortgage guaranteed by U.S. government agencies
Pass— 2,210 7,935 12,458 8,617 121,266 — — 152,486 
Nonaccrual— — — — — 7,768 — — 7,768 
Total residential mortgage guaranteed by U.S. government agencies
— 2,210 7,935 12,458 8,617 129,034 — — 160,254 
Personal
Pass65,191 467,124 180,573 189,447 126,524 283,839 465,619 68 1,778,385 
Special Mention— 58 25 4 4 31 1,216 — 1,338 
Accruing Substandard— 5,276 — — — 12 38 — 5,326 
Nonaccrual— — 48 2 8 136 — — 194 
Total personal65,191 472,458 180,646 189,453 126,536 284,018 466,873 68 1,785,243 
Loans charged off, year-to-date1
1,191 18 — 29 1 — 499 — 1,738 
Total loans to individuals197,050 1,017,758 568,845 450,371 376,524 1,133,354 950,797 34,932 4,729,631 
Total loans$971,898 $4,862,945 $2,913,863 $2,194,002 $3,229,631 $4,675,041 $7,303,321 $36,692 $26,187,393 
1    Includes charge-offs on deposit overdrafts, which are generally charged off at 60 days past due.
The following table summarizes the Company's loan portfolio at December 31, 2025, by the risk grade categories and vintage (in thousands): 
Origination Year
20252024202320222021PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
Commercial:
Healthcare
Pass$1,110,851 $460,630 $413,197 $744,765 $298,992 $546,567 $226,298 $9 $3,801,309 
Special Mention— — — 43,576 96 — 5 — 43,677 
Accruing Substandard181 9,589 37,492 4,144 5,170 83,156 — — 139,732 
Nonaccrual— — 14,850 — — 8,638 2 — 23,490 
Total healthcare1,111,032 470,219 465,539 792,485 304,258 638,361 226,305 9 4,008,208 
Loans charged off, year-to-date— — — — 31 — — — 31 
Services
Pass693,147 462,642 488,381 393,685 265,346 612,098 865,163 491 3,780,953 
Special Mention1,071 4,369 428 — — 20,011 76,565 — 102,444 
Accruing Substandard4,595 218 9,857 1,421 2,136 3,404 754 — 22,385 
Nonaccrual446 29 — 864 — — 4,796 — 6,135 
Total services699,259 467,258 498,666 395,970 267,482 635,513 947,278 491 3,911,917 
Loans charged off, year-to-date— — — — — — 4,147 21 4,168 
Energy
Pass147,840 58,798 44,882 10,479 2,297 19,500 2,598,446 — 2,882,242 
Total energy147,840 58,798 44,882 10,479 2,297 19,500 2,598,446 — 2,882,242 
Loans charged off, year-to-date— — — — — — 94 — 94 
Mortgage finance:
Pass— — — — — — 177,765 — 177,765 
Total mortgage finance— — — — — — 177,765 — 177,765 
General business
Pass845,421 389,679 424,859 179,660 139,664 318,834 1,888,938 1,369 4,188,424 
Special Mention24,882 1,480 6,920 4,288 7,070 2,099 40,873 106 87,718 
Accruing Substandard641 4,338 4,416 5,441 1,466 — 2,014 — 18,316 
Nonaccrual— — 1,445 2,163 72 2,787 — 10 6,477 
Total general business870,944 395,497 437,640 191,552 148,272 323,720 1,931,825 1,485 4,300,935 
Loans charged off, year-to-date14 — 132 — — — 826 109 1,081 
Total commercial2,829,075 1,391,772 1,446,727 1,390,486 722,309 1,617,094 5,881,619 1,985 15,281,067 
Origination Year
20252024202320222021PriorRevolving LoansRevolving Loans Converted to Term LoansTotal
Commercial real estate:
Pass948,049 939,354 476,954 1,670,158 671,080 777,510 107,199 — 5,590,304 
Special Mention— — — 6,405 — 3,949 — — 10,354 
Accruing Substandard— 484 — 4,971 29,324 29,872 — — 64,651 
Nonaccrual— — — — — 6,697 — — 6,697 
Total commercial real estate948,049 939,838 476,954 1,681,534 700,404 818,028 107,199 — 5,672,006 
Loans charged off, year-to-date— — — 126 — — — — 126 
Loans to individuals:
Residential mortgage
Pass564,508 404,186 265,734 250,169 280,232 452,195 458,006 29,190 2,704,220 
Special Mention— — — 140 10 5,387 1,628 1,298 8,463 
Accruing Substandard— — 72 — — 12 385 — 469 
Nonaccrual95 1,333 1,314 1,594 1,402 7,280 4,465 780 18,263 
Total residential mortgage564,603 405,519 267,120 251,903 281,644 464,874 464,484 31,268 2,731,415 
Loans charged off, year-to-date— 38 48 — — 56 178 — 320 
Residential mortgage guaranteed by U.S. government agencies
Pass776 3,676 9,453 8,486 2,801 124,581 — — 149,773 
Nonaccrual— — 398 265 — 7,923 — — 8,586 
Total residential mortgage guaranteed by U.S. government agencies
776 3,676 9,851 8,751 2,801 132,504 — — 158,359 
Personal
Pass489,188 188,899 201,427 140,602 101,967 197,075 476,829 282 1,796,269 
Special Mention22 18 46 17 16 4 1,182 — 1,305 
Accruing Substandard6,186 12 — 2 — 129 — — 6,329 
Nonaccrual7 56 4,627 9 12 1 — — 4,712 
Total personal495,403 188,985 206,100 140,630 101,995 197,209 478,011 282 1,808,615 
Loans charged off, year-to-date1
4,325 87 24 19 — 5 25 — 4,485 
Total loans to individuals1,060,782 598,180 483,071 401,284 386,440 794,587 942,495 31,550 4,698,389 
Total loans$4,837,906 $2,929,790 $2,406,752 $3,473,304 $1,809,153 $3,229,709 $6,931,313 $33,535 $25,651,462 
1    Includes charge-offs on deposit overdrafts, which are generally charged off at 60 days past due.
Nonaccruing Loans

A summary of nonaccruing loans at March 31, 2026, follows (in thousands): 
As of March 31, 2026
 TotalWith No
Allowance		With AllowanceRelated Allowance
Commercial:    
Healthcare$21,138 $14,850 $6,288 $331 
Services1,260 1,260 — — 
General business2,868 118 2,750 2,750 
Total commercial25,266 16,228 9,038 3,081 
Commercial real estate6,601 6,601 — — 
Loans to individuals:    
Residential mortgage20,175 20,175 — — 
Residential mortgage guaranteed by U.S. government agencies7,768 7,768 — — 
Personal194 194 — — 
Total loans to individuals28,137 28,137 — — 
Total$60,004 $50,966 $9,038 $3,081 

The majority of our nonaccruing loans are considered collateral dependent where repayment is expected to be provided through operation or sale of the collateral. Nonaccruing commercial and commercial real estate loans are primarily secured by commercial real estate and nonaccruing residential mortgage loans are secured by residential real estate.

A summary of nonaccruing loans at December 31, 2025, follows (in thousands): 
As of December 31, 2025
 TotalWith No
Allowance		With AllowanceRelated Allowance
Commercial:    
Healthcare$23,490 $18,390 $5,100 $200 
Services6,135 1,339 4,796 1,043 
General business6,477 3,727 2,750 2,750 
Total commercial36,102 23,456 12,646 3,993 
Commercial real estate6,697 — 6,697 2,195 
Loans to individuals:    
Residential mortgage18,263 18,263 — — 
Residential mortgage guaranteed by U.S. government agencies8,586 8,586 — — 
Personal4,712 4,712 — — 
Total loans to individuals31,561 31,561 — — 
Total$74,360 $55,017 $19,343 $6,188 
Loan Modifications to Borrowers Experiencing Financial Difficulty

For the three months ended March 31, 2026, the Company had $30 million of loan modifications to borrowers experiencing financial difficulty including $16 million of commercial real estate loans and $9.2 million of healthcare loans. Modifications generally consist of interest rate reductions, other than insignificant payment delays, term extensions, or a combination thereof. The majority of loan modifications during the three month ended March 31, 2026 were term extensions. During the three months ended March 31, 2026, $4.2 million of loans that were modified in the previous twelve months defaulted. Approximately $3.3 million of these defaults were related to combination modifications to residential mortgage loans guaranteed by U.S. government agencies. A payment default is defined as being 30 or more days past due after modification.

For the three months ended March 31, 2025, the Company had $3.3 million of loan modifications to borrowers experiencing financial difficulty. Approximately $2.6 million were combination modifications to residential mortgage loans guaranteed by U.S. government agencies. During the three months ended March 31, 2025, $6.4 million of loans that were modified in the previous twelve months defaulted. Approximately $5.9 million of these defaults were related to combination modifications to residential mortgage loans guaranteed by U.S. government agencies.

Past Due Loans

Past due status for all loan classes is based on the actual number of days since the last payment was due according to the contractual terms of the loans, as modified for short-term payment deferral forbearance.

A summary of loans currently performing and past due as of March 31, 2026, is as follows (in thousands):
  Past Due Past Due 90 Days or More and Accruing
 Current30 to 59
Days		60 to 89 Days90 Days
or More		Total
Commercial:    
Healthcare$3,935,813 $— $— $19,950 $3,955,763 $— 
Services3,901,776 100 28 29 3,901,933 — 
Energy3,005,693 — — — 3,005,693 — 
Mortgage finance228,242 — — — 228,242 — 
General business4,474,908 1,450 247 4,847 4,481,452 2,097 
Total commercial15,546,432 1,550 275 24,826 15,573,083 2,097 
Commercial real estate5,878,078 — — 6,601 5,884,679 — 
Loans to individuals:    
Residential mortgage2,761,898 16,182 843 5,211 2,784,134 314 
Residential mortgage guaranteed by U.S. government agencies48,337 27,087 — 84,830 160,254 81,958 
Personal1,782,318 1,339 1,460 126 1,785,243 — 
Total loans to individuals4,592,553 44,608 2,303 90,167 4,729,631 82,272 
Total$26,017,063 $46,158 $2,578 $121,594 $26,187,393 $84,369 
A summary of loans currently performing and past due as of December 31, 2025, is as follows (in thousands):
  Past Due Past Due 90 Days or More and Accruing
 Current30 to 59
Days		60 to 89 Days90 Days
or More		Total
Commercial:    
Healthcare$3,984,720 $— $— $23,488 $4,008,208 $— 
Services3,903,616 3,476 4,796 29 3,911,917 — 
Energy2,882,242 — — — 2,882,242 — 
Mortgage finance177,765 — — — 177,765 — 
General business4,291,391 5,702 3,842 — 4,300,935 — 
Total commercial15,239,734 9,178 8,638 23,517 15,281,067 — 
Commercial real estate5,664,492 817 — 6,697 5,672,006 — 
Loans to individuals:    
Residential mortgage2,714,617 8,570 2,182 6,046 2,731,415 — 
Residential mortgage guaranteed by U.S. government agencies
47,950 17,975 11,377 81,057 158,359 76,535 
Personal1,799,975 3,463 551 4,626 1,808,615 — 
Total loans to individuals4,562,542 30,008 14,110 91,729 4,698,389 76,535 
Total$25,466,768 $40,003 $22,748 $121,943 $25,651,462 $76,535