Loans and Allowance for Credit Losses on Loans (Tables)

3 Months Ended

Mar. 31, 2026

Loans and Allowance for Credit Losses on Loans

Schedule of loans


		March 31,			December 31,
		2026			2025

		(In thousands)
Mortgage warehouse repurchase agreements⁽¹⁾		$	1,982,411		$	1,600,285
Residential real estate⁽²⁾			1,038,724			1,018,780
Multi-family financing			5,537,711			5,332,680
Healthcare financing			1,260,821			1,385,359
Commercial and commercial real estate^(1)(3)(4)			1,560,788			1,603,551
Agricultural production and real estate			92,527			92,077
Consumer and margin loans			3,731			1,950
Loans Receivable			11,476,713			11,034,682
Less:
ACL-Loans			76,831			83,301

Loans Receivable, net		$	11,399,882		$	10,951,381

(1)

The warehouse portfolio is exclusively made up of loans to residential and multi-family mortgage bankers that are funding agency-eligible mortgages and commercial loans, which represent all the Company’s loans to non-depository institutions.

(2)

Includes $833.1 million and $832.2 million of All-in-One© first-lien home equity lines of credit at March 31, 2026 and December 31, 2025, respectively.

(3)

Includes $921.3 million and $944.3 million of revolving lines of credit collateralized primarily by servicing rights as of March 31, 2026 and December 31, 2025, respectively.

(4)

Includes only $19.7 million and $19.5 million of non-owner occupied commercial real estate as of March 31, 2026 and December 31, 2025, respectively.

Schedule of allowance for credit loss on loan methodology by loan portfolio segment

Loan Portfolio Segment		ACL-Loans Methodology

Mortgage warehouse repurchase agreements		Remaining Life Method
Residential real estate loans		Discounted Cash Flow
Multi-family financing		Discounted Cash Flow
Healthcare financing		Discounted Cash Flow
Commercial and commercial real estate		Discounted Cash Flow
Agricultural production and real estate		Remaining Life Method
Consumer and margin loans		Remaining Life Method

Schedule of the activity in the ACL-Loans by portfolio segment


		Three Months Ended March 31, 2026
		MTG WHRA			RES RE			MF FIN			HC FIN			CML & CRE			AG & AGRE			CON & MAR			TOTAL

		(In thousands)
ACL-Loans
Balance, beginning of period		$	4,269		$	4,672		$	43,041		$	18,595		$	11,998		$	697		$	29		$	83,301
Provision for credit losses			(448)			(1,129)			19,627			(647)			(1,300)			(227)			17			15,893
Loans charged to the allowance			—			(236)			(10,476)			(12,267)			—			—			—			(22,979)
Recoveries of loans previously charged-off			—			—			613			—			3			—			—			616
Balance, end of period		$	3,821		$	3,307		$	52,805		$	5,681		$	10,701		$	470		$	46		$	76,831


		Three Months Ended March 31, 2025
		MTG WHRA			RES RE			MF FIN			HC FIN			CML & CRE			AG & AGRE			CON & MAR			TOTAL

		(In thousands)
ACL-Loans
Balance, beginning of period		$	3,816		$	5,942		$	55,126		$	8,562		$	10,293		$	539		$	108		$	84,386
Provision for credit losses			(69)			203			8,684			565			87			69			(33)			9,506
Loans charged to the allowance			—			—			(10,394)			—			(113)			—			—			(10,507)
Recoveries of loans previously charged-off			—			—			—			—			28			—			—			28
Balance, end of period		$	3,747		$	6,145		$	53,416		$	9,127		$	10,295		$	608		$	75		$	83,413


		Year Ended December 31, 2025
		MTG WHRA			RES RE			MF FIN			HC FIN			CML & CRE			AG & AGRE			CON & MAR			TOTAL

		(In thousands)
ACL-Loans
Balance, beginning of period		$	3,816		$	5,942		$	55,126		$	8,562		$	10,293		$	539		$	108		$	84,386
Provision for credit losses			453			(1,270)			102,147			17,530			3,965			158			(79)			122,904
Loans charged to the allowance			—			—			(114,281)			(7,497)			(2,338)			—			—			(124,116)
Recoveries of loans previously charged-off			—			—			49			—			78			—			—			127
Balance, end of period		$	4,269		$	4,672		$	43,041		$	18,595		$	11,998		$	697		$	29		$	83,301

Schedule of allowance for credit loss allocated to collateral dependent loans


		March 31, 2026
		Real Estate			Accounts Receivable / Equipment			Other			Total			ACL-Loans Allocation

		(In thousands)
RES RE		$	7,317		$	—		$	—		$	7,317		$	26
MF FIN			191,053			—			—			191,053			13,007
HC FIN			60,771			—			—			60,771			274
CML & CRE			11,302			—			557			11,859			183
AG & AGRE			181			3			—			184			1
Total collateral dependent loans		$	270,624		$	3		$	557		$	271,184		$	13,491


		December 31, 2025
		Real Estate			Accounts Receivable / Equipment			Other			Total			ACL-Loans Allocation

		(In thousands)
RES RE		$	7,681		$	—		$	—		$	7,681		$	39
MF FIN			213,289			—			—			213,289			5,618
HC FIN			72,825			—			—			72,825			12,515
CML & CRE			8,725			—			566			9,291			270
AG & AGRE			181			4			—			185			2
Total collateral dependent loans		$	302,701		$	4		$	566		$	303,271		$	18,444

Schedule of credit risk profile of loan portfolio


		March 31, 2026
		2026			2025			2024			2023			2022			Prior			Revolving Loans			TOTAL

		(In thousands)
MTG WHRA
Pass		$	—		$	—		$	—		$	—		$	—		$	—		$	1,982,411		$	1,982,411
Total		$	—		$	—		$	—		$	—		$	—		$	—		$	1,982,411		$	1,982,411
RES RE
Pass		$	6,033		$	68,856		$	31,693		$	18,899		$	6,304		$	25,844		$	873,778		$	1,031,407
Substandard			—			—			—			431			—			—			6,886			7,317
Total		$	6,033		$	68,856		$	31,693		$	19,330		$	6,304		$	25,844		$	880,664		$	1,038,724
Charge-offs		$	—		$	—		$	214		$	—		$	22		$	—		$	—		$	236
MF FIN
Pass		$	488,177		$	1,013,792		$	533,632		$	288,552		$	169,055		$	24,499		$	2,629,984		$	5,147,691
Special Mention			5,875			57,092			34,210			48,161			49,600			—			4,029			198,967
Substandard			8,854			37,296			16,517			79,259			44,470			—			4,657			191,053
Total		$	502,906		$	1,108,180		$	584,359		$	415,972		$	263,125		$	24,499		$	2,638,670		$	5,537,711
Charge-offs		$	—		$	—		$	1,052		$	—		$	6,627		$	2,797		$	—		$	10,476
HC FIN
Pass		$	237,948		$	509,013		$	378		$	7,081		$	—		$	4,197		$	410,345		$	1,168,962
Special Mention			—			13,460			17,628			—			—			—			—			31,088
Substandard			9,000			32,771			—			—			—			8,050			10,950			60,771
Total		$	246,948		$	555,244		$	18,006		$	7,081		$	—		$	12,247		$	421,295		$	1,260,821
Charge-offs		$	—		$	—		$	—		$	—		$	—		$	12,267		$	—		$	12,267
CML & CRE
Pass		$	16,747		$	63,526		$	45,854		$	41,647		$	56,618		$	63,401		$	1,256,934		$	1,544,727
Special Mention			35			750			773			548			500			996			600			4,202
Substandard			—			2,593			209			121			587			8,349			—			11,859
Total		$	16,782		$	66,869		$	46,836		$	42,316		$	57,705		$	72,746		$	1,257,534		$	1,560,788
AG & AGRE
Pass		$	7,647		$	13,514		$	14,684		$	6,478		$	4,004		$	21,799		$	24,128		$	92,254
Special Mention			—			89			—			—			—			—			—			89
Substandard			—			—			—			3			181			—			—			184
Total		$	7,647		$	13,603		$	14,684		$	6,481		$	4,185		$	21,799		$	24,128		$	92,527
CON & MAR
Pass		$	17		$	120		$	63		$	13		$	1		$	—		$	3,517		$	3,731
Total		$	17		$	120		$	63		$	13		$	1		$	—		$	3,517		$	3,731

Total Pass		$	756,569		$	1,668,821		$	626,304		$	362,670		$	235,982		$	139,740		$	7,181,097		$	10,971,183
Total Special Mention		$	5,910		$	71,391		$	52,611		$	48,709		$	50,100		$	996		$	4,629		$	234,346
Total Substandard		$	17,854		$	72,660		$	16,726		$	79,814		$	45,238		$	16,399		$	22,493		$	271,184
Total Loans		$	780,333		$	1,812,872		$	695,641		$	491,193		$	331,320		$	157,135		$	7,208,219		$	11,476,713
Total Charge-offs		$	—		$	—		$	1,266		$	—		$	6,649		$	15,064		$	—		$	22,979


		December 31, 2025
		2025			2024			2023			2022			2021			Prior			Revolving Loans			TOTAL

		(In thousands)
MTG WHRA
Pass		$	—		$	—		$	—		$	—		$	—		$	—		$	1,600,285		$	1,600,285
Total		$	—		$	—		$	—		$	—		$	—		$	—		$	1,600,285		$	1,600,285
RES RE
Pass		$	66,511		$	33,386		$	21,645		$	6,378		$	4,608		$	21,283		$	857,288		$	1,011,099
Substandard			—			—			431			22			—			129			7,099			7,681
Total		$	66,511		$	33,386		$	22,076		$	6,400		$	4,608		$	21,412		$	864,387		$	1,018,780
MF FIN
Pass		$	1,193,011		$	650,672		$	348,888		$	189,881		$	22,868		$	9,291		$	2,539,144		$	4,953,755
Special Mention			70,127			71,723			—			21,924			—			232			1,630			165,636
Substandard			39,936			8,302			79,463			74,992			—			—			10,596			213,289
Total		$	1,303,074		$	730,697		$	428,351		$	286,797		$	22,868		$	9,523		$	2,551,370		$	5,332,680
Charge-offs		$	—		$	—		$	42,884		$	65,405		$	—		$	5,992		$	—		$	114,281
HC FIN
Pass		$	693,986		$	6,922		$	32,305		$	—		$	—		$	—		$	548,130		$	1,281,343
Special Mention			13,503			17,688			—			—			—			—			—			31,191
Substandard			21,967			—			24,691			—			20,317			—			5,850			72,825
Total		$	729,456		$	24,610		$	56,996		$	—		$	20,317		$	—		$	553,980		$	1,385,359
Charge-offs		$	—		$	—		$	—		$	—		$	5,296		$	2,201		$	—		$	7,497
CML & CRE
Pass		$	65,578		$	48,115		$	43,092		$	59,178		$	35,950		$	30,767		$	1,303,578		$	1,586,258
Special Mention			5,123			116			561			502			883			142			675			8,002
Substandard			—			213			128			600			8,330			20			—			9,291
Total		$	70,701		$	48,444		$	43,781		$	60,280		$	45,163		$	30,929		$	1,304,253		$	1,603,551
Charge-offs		$	—		$	302		$	316		$	160		$	1,560		$	—		$	—		$	2,338
AG & AGRE
Pass		$	14,702		$	15,457		$	7,007		$	4,386		$	2,807		$	19,840		$	27,604		$	91,803
Special Mention			89			—			—			—			—			—			—			89
Substandard			—			—			4			181			—			—			—			185
Total		$	14,791		$	15,457		$	7,011		$	4,567		$	2,807		$	19,840		$	27,604		$	92,077
CON & MAR
Pass		$	133		$	108		$	15		$	2		$	—		$	—		$	1,692		$	1,950
Total		$	133		$	108		$	15		$	2		$	—		$	—		$	1,692		$	1,950

Total Pass		$	2,033,921		$	754,660		$	452,952		$	259,825		$	66,233		$	81,181		$	6,877,721		$	10,526,493
Total Special Mention		$	88,842		$	89,527		$	561		$	22,426		$	883		$	374		$	2,305		$	204,918
Total Substandard		$	61,903		$	8,515		$	104,717		$	75,795		$	28,647		$	149		$	23,545		$	303,271
Total Loans		$	2,184,666		$	852,702		$	558,230		$	358,046		$	95,763		$	81,704		$	6,903,571		$	11,034,682
Total Charge-offs		$	—		$	302		$	43,200		$	65,565		$	6,856		$	8,193		$	—		$	124,116

Schedule of aging analysis of the recorded investment in loans


		March 31, 2026
		30-59 Days				60-89 Days				90+ Days				Total								Total
		Past Due				Past Due				Past Due				Past Due				Current				Loans

		(In thousands)
MTG WHRA		$	—			$	—			$	—			$	—			$	1,982,411			$	1,982,411
RES RE			9,454				850				3,184				13,488				1,025,236				1,038,724
MF FIN			32,866				—				155,957				188,823				5,348,888				5,537,711
HC FIN			—				8,633				18,152				26,785				1,234,036				1,260,821
CML & CRE			10,717				108				2,257				13,082				1,547,706				1,560,788
AG & AGRE			90				—				3				93				92,434				92,527
CON & MAR			—				—				—				—				3,731				3,731
		$	53,127			$	9,591			$	179,553			$	242,271			$	11,234,442			$	11,476,713
			—	%			—	%			2	%			2	%			98	%			100	%


		December 31, 2025
		30-59 Days				60-89 Days				90+ Days				Total								Total
		Past Due				Past Due				Past Due				Past Due				Current				Loans

		(In thousands)
MTG WHRA		$	—			$	—			$	—			$	—			$	1,600,285			$	1,600,285
RES RE			5,077				2,430				3,479				10,986				1,007,794				1,018,780
MF FIN			—				47,475				111,348				158,823				5,173,857				5,332,680
HC FIN			—				—				26,167				26,167				1,359,192				1,385,359
CML & CRE			7,517				659				2,280				10,456				1,593,095				1,603,551
AG & AGRE			—				125				4				129				91,948				92,077
CON & MAR			—				—				—				—				1,950				1,950
		$	12,594			$	50,689			$	143,278			$	206,561			$	10,828,121			$	11,034,682
			—	%			—	%			1	%			2	%			98	%			100	%

Schedule of nonperforming loans and nonperforming assets


		March 31, 2026						December 31, 2025
					Total Loans >						Total Loans >
					90 Days &						90 Days &
		Nonaccrual			Accruing			Nonaccrual			Accruing

		(In thousands)
RES RE		$	7,218		$	69		$	7,680		$	—
MF FIN			175,950			4,029			128,241			—
HC FIN			46,671			4,252			59,574			—
CML & CRE			9,266			—			2,313			—
AG & AGRE			3			—			4			—
		$	239,108		$	8,350		$	197,812		$	—

Schedule of company's modified loans


					Three Months Ended March 31, 2026
					Combination - Term Extension and Payment Delay			Total Class of Loans Receivable			% of Total Class of Loans Receivable

					(In thousands)
MF FIN					$	25,687		$	25,687			—	%
HC FIN						9,000			9,000			—	%
Total					$	34,687		$	34,687			—	%


		Three Months Ended March 31, 2025
		Term Extension			Combination - Term Extension and Payment Delay			Total Class of Loans Receivable			% of Total Class of Loans Receivable

MF FIN		$	4,290		$	51,349		$	55,639			1	%
CML & CRE						177			177			—	%
Total		$	4,290		$	51,526		$	55,816			1	%


				Three Months Ended March 31, 2026
				Combination - Term Extension and Payment Delay
				Financial Effect
MF FIN				Added a weighted average of 4 months.
HC FIN				Added a weighted average of 12 months.


		Three Months Ended March 31, 2025
		Term Extension		Combination - Term Extension and Payment Delay
		Financial Effect		Financial Effect
MF FIN		Added a weighted average of 1 month.		Added a weighted average of 5 months.
CML & CRE				Term extension added a weighted average of 61 months and payment delay added a weighted average of 12 months.


		March 31, 2026
					30 - 89 Days			90+ Days			Total
		Current			Past Due			Past Due			Loans

		(In thousands)
MF FIN		$	69,854		$	—		$	11,540		$	81,394
HC FIN			59,659			8,633			4,252			72,544
CML & CRE			761			—			—			761
Total		$	130,274		$	8,633		$	15,792		$	154,699


		March 31, 2025
					30 - 89 Days			90+ Days			Total
		Current			Past Due			Past Due			Loans

		(In thousands)
MF FIN		$	89,507		$	4,290		$	17,031		$	110,828
HC FIN			4,211			9,649			—			13,860
CML & CRE			177			—			—			177
Total		$	93,895		$	13,939		$	17,031		$	124,865

Schedule of supplemental cash flow information related to loans


		Three Months Ended March 31,
		2026			2025

		(In thousands)
Cash Flow Statement
Supplemental cash flow information:
Transfer of loans to other real estate owned		$	81		$	—
Deposits received upon loan origination			—			189,206
Transfer of loans from loans held for sale to loans receivable			—			1,029
Transfer of loans from loans receivable to loans held for sale			55,570			74,462