Note 4 - Loans

3 Months Ended

Mar. 31, 2026

Notes to Financial Statements

Financing Receivables [Text Block]

Loans:

Loan balances were as follows:

(In Thousands of Dollars)		*March 31, 2026*				*December 31, 2025*
Commercial real estate
Owner occupied		$	626,711			$	393,061
Non-owner occupied			1,047,722				710,468
Farmland			231,601				211,370
Other			403,988				294,587
Commercial
Commercial and industrial			591,409				340,224
Agricultural			52,414				54,195
Residential real estate
1-4 family residential			1,219,766				850,300
Home equity lines of credit			349,656				181,544
Consumer
Indirect			233,576				231,242
Direct			21,539				16,483
Other			10,020				10,070
Total loans		$	4,788,402			$	3,293,544
Net deferred loan costs			11,662				11,169
Allowance for credit losses			(54,684	)			(36,811	)
Net loans		$	4,745,380			$	3,267,902

Allowance for credit loss activity

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

Three Months Ended March 31, 2026

		Commercial								Residential
(In Thousands of Dollars)		Real Estate				Commercial				Real Estate				Consumer				Total
Allowance for credit losses
Beginning balance		$	20,064			$	4,536			$	7,241			$	4,970			$	36,811
(Credit) Provision for credit losses			(1,771	)			329				13				416				(1,013	)
Initial allowance on loans purchased with credit deterioration			3,380				600				15				0				3,995
Initial allowance on purchased seasoned loans			8,377				2,746				4,102				110				15,335
Loans charged off			(1	)			(291	)			(83	)			(354	)			(729	)
Recoveries			0				121				43				121				285
Total ending allowance balance		$	30,049			$	8,041			$	11,331			$	5,263			$	54,684

Three Months Ended March 31, 2025

		Commercial								Residential
(In Thousands of Dollars)		Real Estate				Commercial				Real Estate				Consumer				Total
Allowance for credit losses
Beginning balance		$	19,259			$	4,628			$	7,271			$	4,705			$	35,863
Provision (Credit) for credit losses			263				(125	)			(234	)			118				22
Loans charged off			(44	)			(313	)			(19	)			(322	)			(698	)
Recoveries			2				193				47				120				362
Total ending allowance balance		$	19,480			$	4,383			$	7,065			$	4,621			$	35,549

The cumulative loss rate used as the basis for the estimate of credit losses is comprised of the Company's historical loss experience from December 31, 2011 to March 31, 2026. As of March 31, 2026, the Company expects that the markets in which it operates will experience minimal changes to economic conditions, stable trend in unemployment rate, and an increased trend of delinquencies. Management adjusted historical loss experience for these expectations. No reversion adjustments were necessary, as the starting point for the Company's estimate was a cumulative loss rate covering the expected contractual term of the portfolio. While there are many factors that go into the calculation of the allowance for credit losses, the change in the balances from March 31, 2025 to March 31, 2026 is largely attributed to the Middlefield Merger.

The following tables present the amortized cost basis of loans on nonaccrual status and loans past due over 89 days still accruing as of March 31, 2026 and December 31, 2025:

		Nonaccrual with				Nonaccrual with				Loans past due
		no allowance				an allowance				over 89 days
(In Thousands of Dollars)		for credit loss				for credit loss				still accruing
March 31, 2026
Commercial real estate
Owner occupied		$	4,989			$	2,818			$	0
Non-owner occupied			6,773				16,680				0
Farmland			0				1,879				0
Other			1,576				0				0
Commercial
Commercial and industrial			8,074				9,521				0
Agricultural			0				161				0
Residential real estate
1-4 family residential			1,878				3,068				268
Home equity lines of credit			506				1,004				0
Consumer
Indirect			32				526				0
Direct			0				4				0
Other			97				0				0
Total loans		$	23,925			$	35,661			$	268

		Nonaccrual with				Nonaccrual with				Loans past due
		no allowance				an allowance				over 89 days
(In Thousands of Dollars)		for credit loss				for credit loss				still accruing
December 31, 2025
Commercial real estate
Owner occupied		$	1,346			$	207			$	0
Non-owner occupied			2,408				10,776				0
Farmland			0				1,917				0
Other			1,093				0				0
Commercial
Commercial and industrial			0				2,778				82
Agricultural			0				159				0
Residential real estate
1-4 family residential			1,095				2,329				271
Home equity lines of credit			424				689				0
Consumer
Indirect			61				462				0
Direct			0				21				0
Other			97				0				0
Total loans		$	6,524			$	19,338			$	353

There were no loans that were held for sale and in nonaccrual status for the periods ending March 31, 2026 and December 31, 2025.

The following tables present the amortized cost basis of collateral-dependent loans by class of loans as of March 31, 2026 and December 31, 2025:

(In Thousands of Dollars)		Real Estate				Business Assets				Vehicles				Cash
March 31, 2026
Commercial real estate
Owner occupied		$	7,518			$	0			$	0			$	0
Non-owner occupied			35,322				0				0				0
Farmland			1,839				0				0				0
Other			1,576				0				0				0
Commercial
Commercial and industrial			0				16,812				0				0
Agricultural			0				8				0				0
Residential real estate
1-4 family residential			3,031				0				0				0
Home equity lines of credit			912				0				0				0
Consumer
Indirect			0				0				72				0
Direct			0				0				2				0
Other			97				0				0				0
Total loans		$	50,295			$	16,820			$	74			$	0

(In Thousands of Dollars)		Real Estate				Business Assets				Vehicles				Cash
December 31, 2025
Commercial real estate
Owner occupied		$	1,346			$	0			$	0			$	0
Non-owner occupied			24,235				0				0				0
Farmland			1,872				0				0				0
Other			1,093				0				0				0
Commercial
Commercial and industrial			0				2,352				0				0
Agricultural			0				0				0				0
Residential real estate
1-4 family residential			2,411				0				0				0
Home equity lines of credit			944				0				0				0
Consumer
Indirect			0				0				102				0
Direct			0				0				4				0
Other			97				0				0				0
Total loans		$	31,998			$	2,352			$	106			$	0

The following tables present the aging of the amortized cost basis in past due loans as of March 31, 2026 and December 31, 2025 by class of loans.

										90 Days
										or More
		30-59 Days				60-89 Days				Past Due				Total				Loans Not
(In Thousands of Dollars)		Past Due				Past Due				and Nonaccrual				Past Due				Past Due				Total
March 31, 2026
Commercial real estate
Owner occupied		$	376			$	0			$	7,807			$	8,183			$	618,356			$	626,539
Non-owner occupied			106				0				23,453				23,559				1,023,809				1,047,368
Farmland			112				160				1,879				2,151				229,304				231,455
Other			990				0				1,576				2,566				400,802				403,368
Commercial
Commercial and industrial			641				390				17,595				18,626				574,331				592,957
Agricultural			239				25				161				425				52,879				53,304
Residential real estate
1-4 family residential			8,634				59				5,214				13,907				1,206,809				1,220,716
Home equity lines of credit			695				227				1,510				2,432				347,486				349,918
Consumer
Indirect			1,372				513				558				2,443				240,360				242,803
Direct			99				30				4				133				21,479				21,612
Other			32				0				97				129				9,895				10,024
Total loans		$	13,296			$	1,404			$	59,854			$	74,554			$	4,725,510			$	4,800,064

										90 Days
										or More
		30-59 Days				60-89 Days				Past Due				Total				Loans Not
(In Thousands of Dollars)		Past Due				Past Due				and Nonaccrual				Past Due				Past Due				Total
December 31, 2025
Commercial real estate
Owner occupied		$	419			$	1,018			$	1,553			$	2,990			$	389,881			$	392,871
Non-owner occupied			8				0				13,184				13,192				696,884				710,076
Farmland			116				163				1,917				2,196				209,035				211,231
Other			0				0				1,093				1,093				292,915				294,008
Commercial
Commercial and industrial			1,064				174				2,860				4,098				337,639				341,737
Agricultural			235				30				159				424				54,665				55,089
Residential real estate
1-4 family residential			9,848				1,122				3,695				14,665				836,515				851,180
Home equity lines of credit			75				54				1,113				1,242				180,544				181,786
Consumer
Indirect			2,090				470				523				3,083				237,027				240,110
Direct			37				7				21				65				16,486				16,551
Other			17				0				97				114				9,960				10,074
Total loans		$	13,909			$	3,038			$	26,215			$	43,162			$	3,261,551			$	3,304,713