LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
|
3 Months Ended |
Mar. 31, 2026 |
|---|
| Receivables [Abstract] |
|
| Schedule of Outstanding Balance of Loans |
The following table reconciles the outstanding balance of loans at March 31, 2026, and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Net loan balance |
|
$ |
5,459,696 |
|
|
$ |
4,216,011 |
|
Loan origination fees and expenses |
|
|
(2,165 |
) |
|
|
(2,964 |
) |
Merger fair value adjustments |
|
|
(30,931 |
) |
|
|
(16,396 |
) |
Hedge fair market value adjustments |
|
|
(1,082 |
) |
|
|
(1,129 |
) |
Purchased premium and discounts |
|
|
2,757 |
|
|
|
2,658 |
|
Total |
|
$ |
5,428,275 |
|
|
$ |
4,198,180 |
|
|
| Categories of Loans |
The following table lists categories of loans at March 31, 2026, and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
|
Commercial real estate |
|
$ |
2,958,263 |
|
|
$ |
2,226,348 |
|
Commercial and industrial |
|
|
967,049 |
|
|
|
816,885 |
|
Residential real estate |
|
|
720,441 |
|
|
|
582,145 |
|
Agricultural real estate |
|
|
431,308 |
|
|
|
278,927 |
|
Agricultural |
|
|
249,053 |
|
|
|
188,475 |
|
Consumer |
|
|
102,161 |
|
|
|
105,400 |
|
Total loans |
|
|
5,428,275 |
|
|
|
4,198,180 |
|
Allowance for credit losses |
|
|
(64,245 |
) |
|
|
(52,756 |
) |
Net loans |
|
$ |
5,364,030 |
|
|
$ |
4,145,424 |
|
|
| Schedule of Allowance for Loan Losses by Portfolio Segment Allowance |
The following tables present the activity in the allowance for credit losses by class for the three month period ended March 31, 2026, and 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
20,037 |
|
|
$ |
17,830 |
|
|
$ |
8,068 |
|
|
$ |
4,669 |
|
|
$ |
337 |
|
|
$ |
1,815 |
|
|
$ |
52,756 |
|
Provision for credit losses |
|
|
923 |
|
|
|
4,467 |
|
|
|
(613 |
) |
|
|
1,326 |
|
|
|
(261 |
) |
|
|
113 |
|
|
|
5,955 |
|
Initial allowance on purchase credit
deteriorated ("PCD") loans |
|
|
855 |
|
|
|
1,962 |
|
|
|
160 |
|
|
|
440 |
|
|
|
202 |
|
|
|
1 |
|
|
|
3,620 |
|
Initial allowance on purchased
seasoned loans |
|
|
1,108 |
|
|
|
718 |
|
|
|
114 |
|
|
|
1,254 |
|
|
|
12 |
|
|
|
87 |
|
|
|
3,293 |
|
Loans charged-off |
|
|
(72 |
) |
|
|
(1,700 |
) |
|
|
(29 |
) |
|
|
(36 |
) |
|
|
(3 |
) |
|
|
(241 |
) |
|
|
(2,081 |
) |
Recoveries |
|
|
31 |
|
|
|
573 |
|
|
|
1 |
|
|
|
12 |
|
|
|
4 |
|
|
|
81 |
|
|
|
702 |
|
Total ending allowance balance |
|
$ |
22,882 |
|
|
$ |
23,850 |
|
|
$ |
7,701 |
|
|
$ |
7,665 |
|
|
$ |
291 |
|
|
$ |
1,856 |
|
|
$ |
64,245 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning balance |
|
$ |
14,948 |
|
|
$ |
14,005 |
|
|
$ |
8,553 |
|
|
$ |
3,504 |
|
|
$ |
439 |
|
|
$ |
1,818 |
|
|
$ |
43,267 |
|
Provision for credit losses |
|
|
754 |
|
|
|
(418 |
) |
|
|
278 |
|
|
|
1,606 |
|
|
|
(67 |
) |
|
|
569 |
|
|
|
2,722 |
|
Loans charged-off |
|
|
(22 |
) |
|
|
(443 |
) |
|
|
(13 |
) |
|
|
(6 |
) |
|
|
(17 |
) |
|
|
(638 |
) |
|
|
(1,139 |
) |
Recoveries |
|
|
442 |
|
|
|
404 |
|
|
|
9 |
|
|
|
54 |
|
|
|
1 |
|
|
|
64 |
|
|
|
974 |
|
Total ending allowance balance |
|
$ |
16,122 |
|
|
$ |
13,548 |
|
|
$ |
8,827 |
|
|
$ |
5,158 |
|
|
$ |
356 |
|
|
$ |
1,813 |
|
|
$ |
45,824 |
|
|
| Schedule of Loans Evaluated for Impairment |
The following tables present the amortized cost in loans and the balance in the allowance for credit losses by portfolio and class based on the method to determine allowance for credit loss as of March 31, 2026, and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,2026 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
2,903 |
|
|
$ |
4,944 |
|
|
$ |
844 |
|
|
$ |
410 |
|
|
$ |
78 |
|
|
$ |
194 |
|
|
$ |
9,373 |
|
Collectively evaluated for credit losses |
|
|
19,979 |
|
|
|
18,906 |
|
|
|
6,857 |
|
|
|
7,255 |
|
|
|
213 |
|
|
|
1,662 |
|
|
|
54,872 |
|
Total |
|
$ |
22,882 |
|
|
$ |
23,850 |
|
|
$ |
7,701 |
|
|
$ |
7,665 |
|
|
$ |
291 |
|
|
$ |
1,856 |
|
|
$ |
64,245 |
|
Loan Balance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
23,986 |
|
|
$ |
33,102 |
|
|
$ |
3,623 |
|
|
$ |
3,928 |
|
|
$ |
3,457 |
|
|
$ |
819 |
|
|
$ |
68,915 |
|
Collectively evaluated for credit losses |
|
|
2,934,277 |
|
|
|
933,947 |
|
|
|
716,818 |
|
|
|
427,380 |
|
|
|
245,596 |
|
|
|
101,342 |
|
|
|
5,359,360 |
|
Total |
|
$ |
2,958,263 |
|
|
$ |
967,049 |
|
|
$ |
720,441 |
|
|
$ |
431,308 |
|
|
$ |
249,053 |
|
|
$ |
102,161 |
|
|
$ |
5,428,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
Commercial
Real Estate |
|
|
Commercial
and
Industrial |
|
|
Residential
Real
Estate |
|
|
Agricultural
Real
Estate |
|
|
Agricultural |
|
|
Consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
2,599 |
|
|
$ |
2,341 |
|
|
$ |
910 |
|
|
$ |
342 |
|
|
$ |
186 |
|
|
$ |
171 |
|
|
$ |
6,549 |
|
Collectively evaluated for credit losses |
|
|
17,438 |
|
|
|
15,489 |
|
|
|
7,158 |
|
|
|
4,327 |
|
|
|
151 |
|
|
|
1,644 |
|
|
|
46,207 |
|
Total |
|
$ |
20,037 |
|
|
$ |
17,830 |
|
|
$ |
8,068 |
|
|
$ |
4,669 |
|
|
$ |
337 |
|
|
$ |
1,815 |
|
|
$ |
52,756 |
|
Loan Balance: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Individually evaluated for credit losses |
|
$ |
18,171 |
|
|
$ |
21,905 |
|
|
$ |
4,664 |
|
|
$ |
2,886 |
|
|
$ |
3,928 |
|
|
$ |
770 |
|
|
$ |
52,324 |
|
Collectively evaluated for credit losses |
|
|
2,208,177 |
|
|
|
794,980 |
|
|
|
577,481 |
|
|
|
276,041 |
|
|
|
184,547 |
|
|
|
104,630 |
|
|
|
4,145,856 |
|
Total |
|
$ |
2,226,348 |
|
|
$ |
816,885 |
|
|
$ |
582,145 |
|
|
$ |
278,927 |
|
|
$ |
188,475 |
|
|
$ |
105,400 |
|
|
$ |
4,198,180 |
|
|
| Non-Accrual Loans, Segregated by Class of Loans |
The following tables present information related to non-accrual loans at March 31, 2026, and December 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,2026 |
|
|
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment |
|
|
Allowance for
Credit Losses
Allocated |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
4,467 |
|
|
$ |
4,346 |
|
|
$ |
— |
|
Commercial and industrial |
|
|
2,518 |
|
|
|
2,410 |
|
|
|
— |
|
Residential real estate |
|
|
47 |
|
|
|
— |
|
|
|
— |
|
Agricultural real estate |
|
|
2,387 |
|
|
|
2,090 |
|
|
|
— |
|
Agricultural |
|
|
3,434 |
|
|
|
3,089 |
|
|
|
— |
|
Consumer |
|
|
20 |
|
|
|
— |
|
|
|
— |
|
Subtotal |
|
|
12,873 |
|
|
|
11,935 |
|
|
|
— |
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
|
12,959 |
|
|
|
11,634 |
|
|
|
2,054 |
|
Commercial and industrial |
|
|
29,896 |
|
|
|
22,736 |
|
|
|
4,120 |
|
Residential real estate |
|
|
3,708 |
|
|
|
3,467 |
|
|
|
832 |
|
Agricultural real estate |
|
|
2,235 |
|
|
|
1,663 |
|
|
|
389 |
|
Agricultural |
|
|
281 |
|
|
|
268 |
|
|
|
62 |
|
Consumer |
|
|
779 |
|
|
|
737 |
|
|
|
180 |
|
Subtotal |
|
|
49,858 |
|
|
|
40,505 |
|
|
|
7,637 |
|
Total |
|
$ |
62,731 |
|
|
$ |
52,440 |
|
|
$ |
7,637 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
|
|
Unpaid
Principal
Balance |
|
|
Recorded
Investment |
|
|
Allowance for
Credit Losses
Allocated |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
3,795 |
|
|
$ |
3,734 |
|
|
$ |
— |
|
Commercial and industrial |
|
|
2,146 |
|
|
|
707 |
|
|
|
— |
|
Residential real estate |
|
|
610 |
|
|
|
552 |
|
|
|
— |
|
Agricultural real estate |
|
|
297 |
|
|
|
— |
|
|
|
— |
|
Agricultural |
|
|
1,624 |
|
|
|
1,291 |
|
|
|
— |
|
Consumer |
|
|
14 |
|
|
|
— |
|
|
|
— |
|
Subtotal |
|
|
8,486 |
|
|
|
6,284 |
|
|
|
— |
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
|
7,461 |
|
|
|
6,758 |
|
|
|
1,639 |
|
Commercial and industrial |
|
|
24,794 |
|
|
|
20,820 |
|
|
|
2,303 |
|
Residential real estate |
|
|
3,975 |
|
|
|
3,704 |
|
|
|
875 |
|
Agricultural real estate |
|
|
1,694 |
|
|
|
1,167 |
|
|
|
262 |
|
Agricultural |
|
|
897 |
|
|
|
862 |
|
|
|
124 |
|
Consumer |
|
|
719 |
|
|
|
681 |
|
|
|
162 |
|
Subtotal |
|
|
39,540 |
|
|
|
33,992 |
|
|
|
5,365 |
|
Total |
|
$ |
48,026 |
|
|
$ |
40,276 |
|
|
$ |
5,365 |
|
The tables below present average recorded investment and interest income related to non-accrual loans for the three months ended March 31, 2026, and 2025. Interest income recognized in the following table was substantially recognized on a cash basis. The recorded investment in loans excludes accrued interest receivable due to immateriality.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the Three Months Ended |
|
|
|
March 31, 2026 |
|
|
March 31, 2025 |
|
|
|
Average Recorded Investment |
|
|
Interest Income Recognized |
|
|
Average Recorded Investment |
|
|
Interest Income Recognized |
|
With no related allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
4,040 |
|
|
$ |
— |
|
|
$ |
3,052 |
|
|
$ |
— |
|
Commercial and industrial |
|
|
1,559 |
|
|
|
95 |
|
|
|
— |
|
|
|
— |
|
Residential real estate |
|
|
276 |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
Agricultural real estate |
|
|
1,045 |
|
|
|
— |
|
|
|
1,975 |
|
|
|
32 |
|
Agricultural |
|
|
2,190 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Subtotal |
|
|
9,110 |
|
|
|
96 |
|
|
|
5,027 |
|
|
|
32 |
|
With an allowance recorded: |
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
|
9,196 |
|
|
|
— |
|
|
|
4,813 |
|
|
|
— |
|
Commercial and industrial |
|
|
21,778 |
|
|
|
4 |
|
|
|
8,014 |
|
|
|
4 |
|
Residential real estate |
|
|
3,585 |
|
|
|
— |
|
|
|
4,915 |
|
|
|
— |
|
Agricultural real estate |
|
|
1,415 |
|
|
|
— |
|
|
|
2,351 |
|
|
|
— |
|
Agricultural |
|
|
565 |
|
|
|
— |
|
|
|
1,231 |
|
|
|
— |
|
Consumer |
|
|
709 |
|
|
|
— |
|
|
|
775 |
|
|
|
1 |
|
Subtotal |
|
|
37,248 |
|
|
|
4 |
|
|
|
22,099 |
|
|
|
5 |
|
Total |
|
$ |
46,358 |
|
|
$ |
100 |
|
|
$ |
27,126 |
|
|
$ |
37 |
|
|
| Summary of Non-Accrual Interest Income Written Off |
The following table presents the amount of non-accrual interest income written off for the three months ended March 31, 2026, and 2025.
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended |
|
|
|
March 31, 2026 |
|
|
March 31, 2025 |
|
Commercial real estate |
|
$ |
49 |
|
|
$ |
10 |
|
Commercial and industrial |
|
|
175 |
|
|
|
10 |
|
Residential real estate |
|
|
10 |
|
|
|
8 |
|
Agricultural real estate |
|
|
10 |
|
|
|
2 |
|
Agricultural |
|
|
4 |
|
|
|
3 |
|
Consumer |
|
|
2 |
|
|
|
5 |
|
Total |
|
$ |
250 |
|
|
$ |
38 |
|
T
|
| Schedule of Aging of Recorded Investment in Past Due Loans by Segment and Class of Loans |
he following tables present the aging of the recorded investment in past due loans as of March 31, 2026, and December 31, 2025, by portfolio and class of loans.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
30 - 59
Days
Past Due |
|
|
60 - 89
Days
Past Due |
|
|
Greater
Than
90 Days
Past
Due Still On
Accrual |
|
|
Non-accrual |
|
|
Loans Not
Past Due |
|
|
Total |
|
Commercial real estate |
|
$ |
15,245 |
|
|
$ |
7,369 |
|
|
$ |
667 |
|
|
$ |
15,980 |
|
|
$ |
2,919,002 |
|
|
$ |
2,958,263 |
|
Commercial and industrial |
|
|
8,617 |
|
|
|
4,592 |
|
|
|
1,955 |
|
|
|
25,146 |
|
|
|
926,739 |
|
|
|
967,049 |
|
Residential real estate |
|
|
3,558 |
|
|
|
219 |
|
|
|
155 |
|
|
|
3,467 |
|
|
|
713,042 |
|
|
|
720,441 |
|
Agricultural real estate |
|
|
1,161 |
|
|
|
506 |
|
|
|
76 |
|
|
|
3,753 |
|
|
|
425,812 |
|
|
|
431,308 |
|
Agricultural |
|
|
1,544 |
|
|
|
2,643 |
|
|
|
23 |
|
|
|
3,357 |
|
|
|
241,486 |
|
|
|
249,053 |
|
Consumer |
|
|
324 |
|
|
|
96 |
|
|
|
— |
|
|
|
737 |
|
|
|
101,004 |
|
|
|
102,161 |
|
Total |
|
$ |
30,449 |
|
|
$ |
15,425 |
|
|
$ |
2,876 |
|
|
$ |
52,440 |
|
|
$ |
5,327,085 |
|
|
$ |
5,428,275 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
30 - 59
Days
Past Due |
|
|
60 - 89
Days
Past Due |
|
|
Greater
Than
90 Days
Past
Due Still On
Accrual |
|
|
Non-accrual |
|
|
Loans Not
Past Due |
|
|
Total |
|
Commercial real estate |
|
$ |
4,411 |
|
|
$ |
3,121 |
|
|
$ |
— |
|
|
$ |
10,492 |
|
|
$ |
2,208,324 |
|
|
$ |
2,226,348 |
|
Commercial and industrial |
|
|
3,830 |
|
|
|
1,655 |
|
|
|
1,146 |
|
|
|
21,527 |
|
|
|
788,727 |
|
|
|
816,885 |
|
Residential real estate |
|
|
3,825 |
|
|
|
842 |
|
|
|
164 |
|
|
|
4,256 |
|
|
|
573,058 |
|
|
|
582,145 |
|
Agricultural real estate |
|
|
1,194 |
|
|
|
480 |
|
|
|
— |
|
|
|
1,167 |
|
|
|
276,086 |
|
|
|
278,927 |
|
Agricultural |
|
|
715 |
|
|
|
656 |
|
|
|
1,300 |
|
|
|
2,153 |
|
|
|
183,651 |
|
|
|
188,475 |
|
Consumer |
|
|
353 |
|
|
|
95 |
|
|
|
— |
|
|
|
681 |
|
|
|
104,271 |
|
|
|
105,400 |
|
Total |
|
$ |
14,328 |
|
|
$ |
6,849 |
|
|
$ |
2,610 |
|
|
$ |
40,276 |
|
|
$ |
4,134,117 |
|
|
$ |
4,198,180 |
|
|
| Summary of Risk Category of Loans by Class of Loans |
Based on the analysis performed at March 31, 2026, the risk category of loans by type and year of origination is as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
2026 |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
Prior |
|
|
Revolving Loans
Amortized Cost |
|
|
Revolving Loans
Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
113,543 |
|
|
$ |
570,533 |
|
|
$ |
337,946 |
|
|
$ |
157,900 |
|
|
$ |
332,386 |
|
|
$ |
478,864 |
|
|
$ |
937,356 |
|
|
$ |
1,476 |
|
|
$ |
2,930,004 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
114 |
|
|
|
— |
|
|
|
69 |
|
|
|
— |
|
|
|
666 |
|
|
|
— |
|
|
|
849 |
|
Substandard |
|
|
— |
|
|
|
6,194 |
|
|
|
3,305 |
|
|
|
1,761 |
|
|
|
3,280 |
|
|
|
7,802 |
|
|
|
5,068 |
|
|
|
— |
|
|
|
27,410 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial real estate |
|
$ |
113,543 |
|
|
$ |
576,727 |
|
|
$ |
341,365 |
|
|
$ |
159,661 |
|
|
$ |
335,735 |
|
|
$ |
486,666 |
|
|
$ |
943,090 |
|
|
$ |
1,476 |
|
|
$ |
2,958,263 |
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
29,270 |
|
|
$ |
199,117 |
|
|
$ |
125,784 |
|
|
$ |
45,346 |
|
|
$ |
46,821 |
|
|
$ |
50,703 |
|
|
$ |
417,535 |
|
|
$ |
780 |
|
|
$ |
915,356 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
89 |
|
|
|
16,233 |
|
|
|
146 |
|
|
|
202 |
|
|
|
130 |
|
|
|
— |
|
|
|
16,800 |
|
Substandard |
|
|
— |
|
|
|
2,046 |
|
|
|
13,825 |
|
|
|
7,497 |
|
|
|
1,554 |
|
|
|
2,435 |
|
|
|
7,536 |
|
|
|
— |
|
|
|
34,893 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial and industrial |
|
$ |
29,270 |
|
|
$ |
201,163 |
|
|
$ |
139,698 |
|
|
$ |
69,076 |
|
|
$ |
48,521 |
|
|
$ |
53,340 |
|
|
$ |
425,201 |
|
|
$ |
780 |
|
|
$ |
967,049 |
|
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
27,679 |
|
|
$ |
74,260 |
|
|
$ |
22,300 |
|
|
$ |
43,002 |
|
|
$ |
58,581 |
|
|
$ |
372,054 |
|
|
$ |
118,109 |
|
|
$ |
359 |
|
|
$ |
716,344 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
271 |
|
|
|
— |
|
|
|
— |
|
|
|
271 |
|
Substandard |
|
|
— |
|
|
|
16 |
|
|
|
96 |
|
|
|
825 |
|
|
|
318 |
|
|
|
2,006 |
|
|
|
520 |
|
|
|
45 |
|
|
|
3,826 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total residential real estate |
|
$ |
27,679 |
|
|
$ |
74,276 |
|
|
$ |
22,396 |
|
|
$ |
43,827 |
|
|
$ |
58,899 |
|
|
$ |
374,331 |
|
|
$ |
118,629 |
|
|
$ |
404 |
|
|
$ |
720,441 |
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
18,823 |
|
|
$ |
98,744 |
|
|
$ |
50,114 |
|
|
$ |
23,764 |
|
|
$ |
26,655 |
|
|
$ |
106,360 |
|
|
$ |
100,136 |
|
|
$ |
263 |
|
|
$ |
424,859 |
|
Special mention |
|
|
8 |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
126 |
|
|
|
— |
|
|
|
— |
|
|
|
134 |
|
Substandard |
|
|
— |
|
|
|
— |
|
|
|
2,393 |
|
|
|
2,243 |
|
|
|
153 |
|
|
|
1,241 |
|
|
|
285 |
|
|
|
— |
|
|
|
6,315 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural real estate |
|
$ |
18,831 |
|
|
$ |
98,744 |
|
|
$ |
52,507 |
|
|
$ |
26,007 |
|
|
$ |
26,808 |
|
|
$ |
107,727 |
|
|
$ |
100,421 |
|
|
$ |
263 |
|
|
$ |
431,308 |
|
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
9,857 |
|
|
$ |
32,529 |
|
|
$ |
19,903 |
|
|
$ |
4,722 |
|
|
$ |
2,324 |
|
|
$ |
6,413 |
|
|
$ |
170,582 |
|
|
$ |
137 |
|
|
$ |
246,467 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
62 |
|
|
|
— |
|
|
|
— |
|
|
|
62 |
|
Substandard |
|
|
— |
|
|
|
592 |
|
|
|
54 |
|
|
|
651 |
|
|
|
29 |
|
|
|
630 |
|
|
|
568 |
|
|
|
— |
|
|
|
2,524 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural |
|
$ |
9,857 |
|
|
$ |
33,121 |
|
|
$ |
19,957 |
|
|
$ |
5,373 |
|
|
$ |
2,353 |
|
|
$ |
7,105 |
|
|
$ |
171,150 |
|
|
$ |
137 |
|
|
$ |
249,053 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
28,456 |
|
|
$ |
14,929 |
|
|
$ |
8,762 |
|
|
$ |
9,676 |
|
|
$ |
6,111 |
|
|
$ |
6,739 |
|
|
$ |
26,751 |
|
|
$ |
— |
|
|
$ |
101,424 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Substandard |
|
|
— |
|
|
|
91 |
|
|
|
103 |
|
|
|
188 |
|
|
|
196 |
|
|
|
159 |
|
|
|
— |
|
|
|
— |
|
|
|
737 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total consumer |
|
$ |
28,456 |
|
|
$ |
15,020 |
|
|
$ |
8,865 |
|
|
$ |
9,864 |
|
|
$ |
6,307 |
|
|
$ |
6,898 |
|
|
$ |
26,751 |
|
|
$ |
— |
|
|
$ |
102,161 |
|
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
227,628 |
|
|
$ |
990,112 |
|
|
$ |
564,809 |
|
|
$ |
284,410 |
|
|
$ |
472,878 |
|
|
$ |
1,021,133 |
|
|
$ |
1,770,469 |
|
|
$ |
3,015 |
|
|
$ |
5,334,454 |
|
Special mention |
|
|
8 |
|
|
|
— |
|
|
|
203 |
|
|
|
16,233 |
|
|
|
215 |
|
|
|
661 |
|
|
|
796 |
|
|
|
— |
|
|
|
18,116 |
|
Substandard |
|
|
— |
|
|
|
8,939 |
|
|
|
19,776 |
|
|
|
13,165 |
|
|
|
5,530 |
|
|
|
14,273 |
|
|
|
13,977 |
|
|
|
45 |
|
|
|
75,705 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total loans |
|
$ |
227,636 |
|
|
$ |
999,051 |
|
|
$ |
584,788 |
|
|
$ |
313,808 |
|
|
$ |
478,623 |
|
|
$ |
1,036,067 |
|
|
$ |
1,785,242 |
|
|
$ |
3,060 |
|
|
$ |
5,428,275 |
|
Based on the analysis performed at December 31, 2025, the risk category of loans by type and year of origination is as follows.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2025 |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
Prior |
|
|
Revolving Loans
Amortized Cost |
|
|
Revolving Loans
Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
429,259 |
|
|
$ |
319,227 |
|
|
$ |
162,815 |
|
|
$ |
256,817 |
|
|
$ |
162,737 |
|
|
$ |
258,510 |
|
|
$ |
614,449 |
|
|
$ |
999 |
|
|
$ |
2,204,813 |
|
Special mention |
|
|
— |
|
|
|
115 |
|
|
|
— |
|
|
|
73 |
|
|
|
— |
|
|
|
— |
|
|
|
667 |
|
|
|
— |
|
|
|
855 |
|
Substandard |
|
|
4,739 |
|
|
|
2,329 |
|
|
|
1,376 |
|
|
|
3,839 |
|
|
|
1,148 |
|
|
|
3,211 |
|
|
|
4,038 |
|
|
|
— |
|
|
|
20,680 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial real estate |
|
$ |
433,998 |
|
|
$ |
321,671 |
|
|
$ |
164,191 |
|
|
$ |
260,729 |
|
|
$ |
163,885 |
|
|
$ |
261,721 |
|
|
$ |
619,154 |
|
|
$ |
999 |
|
|
$ |
2,226,348 |
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
192,904 |
|
|
$ |
120,288 |
|
|
$ |
43,779 |
|
|
$ |
48,264 |
|
|
$ |
33,804 |
|
|
$ |
25,293 |
|
|
$ |
304,608 |
|
|
$ |
849 |
|
|
$ |
769,789 |
|
Special mention |
|
|
— |
|
|
|
93 |
|
|
|
16,865 |
|
|
|
147 |
|
|
|
10 |
|
|
|
336 |
|
|
|
129 |
|
|
|
— |
|
|
|
17,580 |
|
Substandard |
|
|
319 |
|
|
|
16,822 |
|
|
|
7,547 |
|
|
|
1,144 |
|
|
|
215 |
|
|
|
1,832 |
|
|
|
1,637 |
|
|
|
— |
|
|
|
29,516 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total commercial and industrial |
|
$ |
193,223 |
|
|
$ |
137,203 |
|
|
$ |
68,191 |
|
|
$ |
49,555 |
|
|
$ |
34,029 |
|
|
$ |
27,461 |
|
|
$ |
306,374 |
|
|
$ |
849 |
|
|
$ |
816,885 |
|
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
49,089 |
|
|
$ |
17,591 |
|
|
$ |
30,673 |
|
|
$ |
36,518 |
|
|
$ |
242,578 |
|
|
$ |
121,963 |
|
|
$ |
78,442 |
|
|
$ |
379 |
|
|
$ |
577,233 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
277 |
|
|
|
— |
|
|
|
— |
|
|
|
277 |
|
Substandard |
|
|
17 |
|
|
|
104 |
|
|
|
1,265 |
|
|
|
553 |
|
|
|
217 |
|
|
|
2,213 |
|
|
|
221 |
|
|
|
45 |
|
|
|
4,635 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total residential real estate |
|
$ |
49,106 |
|
|
$ |
17,695 |
|
|
$ |
31,938 |
|
|
$ |
37,071 |
|
|
$ |
242,795 |
|
|
$ |
124,453 |
|
|
$ |
78,663 |
|
|
$ |
424 |
|
|
$ |
582,145 |
|
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
65,295 |
|
|
$ |
43,928 |
|
|
$ |
19,536 |
|
|
$ |
16,115 |
|
|
$ |
10,270 |
|
|
$ |
49,537 |
|
|
$ |
70,113 |
|
|
$ |
270 |
|
|
$ |
275,064 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
129 |
|
|
|
— |
|
|
|
— |
|
|
|
129 |
|
Substandard |
|
|
— |
|
|
|
— |
|
|
|
2,146 |
|
|
|
78 |
|
|
|
407 |
|
|
|
1,103 |
|
|
|
— |
|
|
|
— |
|
|
|
3,734 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural real estate |
|
$ |
65,295 |
|
|
$ |
43,928 |
|
|
$ |
21,682 |
|
|
$ |
16,193 |
|
|
$ |
10,677 |
|
|
$ |
50,769 |
|
|
$ |
70,113 |
|
|
$ |
270 |
|
|
$ |
278,927 |
|
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
27,452 |
|
|
$ |
20,798 |
|
|
$ |
4,886 |
|
|
$ |
1,649 |
|
|
$ |
1,506 |
|
|
$ |
2,618 |
|
|
$ |
127,847 |
|
|
$ |
224 |
|
|
$ |
186,980 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
32 |
|
|
|
— |
|
|
|
— |
|
|
|
33 |
|
Substandard |
|
|
56 |
|
|
|
87 |
|
|
|
143 |
|
|
|
130 |
|
|
|
17 |
|
|
|
663 |
|
|
|
366 |
|
|
|
— |
|
|
|
1,462 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total agricultural |
|
$ |
27,508 |
|
|
$ |
20,885 |
|
|
$ |
5,030 |
|
|
$ |
1,779 |
|
|
$ |
1,523 |
|
|
$ |
3,313 |
|
|
$ |
128,213 |
|
|
$ |
224 |
|
|
$ |
188,475 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
37,830 |
|
|
$ |
8,889 |
|
|
$ |
9,933 |
|
|
$ |
7,213 |
|
|
$ |
3,326 |
|
|
$ |
3,485 |
|
|
$ |
34,044 |
|
|
$ |
— |
|
|
$ |
104,720 |
|
Special mention |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Substandard |
|
|
17 |
|
|
|
61 |
|
|
|
216 |
|
|
|
223 |
|
|
|
119 |
|
|
|
44 |
|
|
|
— |
|
|
|
— |
|
|
|
680 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total consumer |
|
$ |
37,847 |
|
|
$ |
8,950 |
|
|
$ |
10,149 |
|
|
$ |
7,436 |
|
|
$ |
3,445 |
|
|
$ |
3,529 |
|
|
$ |
34,044 |
|
|
$ |
— |
|
|
$ |
105,400 |
|
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Risk rating |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Pass |
|
$ |
801,829 |
|
|
$ |
530,721 |
|
|
$ |
271,622 |
|
|
$ |
366,576 |
|
|
$ |
454,221 |
|
|
$ |
461,406 |
|
|
$ |
1,229,503 |
|
|
$ |
2,721 |
|
|
$ |
4,118,599 |
|
Special mention |
|
|
— |
|
|
|
208 |
|
|
|
16,866 |
|
|
|
220 |
|
|
|
10 |
|
|
|
774 |
|
|
|
796 |
|
|
|
— |
|
|
|
18,874 |
|
Substandard |
|
|
5,148 |
|
|
|
19,403 |
|
|
|
12,693 |
|
|
|
5,967 |
|
|
|
2,123 |
|
|
|
9,066 |
|
|
|
6,262 |
|
|
|
45 |
|
|
|
60,707 |
|
Doubtful |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total loans |
|
$ |
806,977 |
|
|
$ |
550,332 |
|
|
$ |
301,181 |
|
|
$ |
372,763 |
|
|
$ |
456,354 |
|
|
$ |
471,246 |
|
|
$ |
1,236,561 |
|
|
$ |
2,766 |
|
|
$ |
4,198,180 |
|
|
| Schedule of Charge-off and Recovery Activity by Loan Type and Year of Origination |
The following table discloses the charge-off and recovery activity by loan type and year of origination for the three month period ending March 31, 2026.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
2026 |
|
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
Prior |
|
|
Revolving Loans
Amortized Cost |
|
|
Revolving Loans
Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(17 |
) |
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
(40 |
) |
|
$ |
(14 |
) |
|
$ |
— |
|
|
$ |
(72 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
17 |
|
|
|
13 |
|
|
|
— |
|
|
|
31 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(17 |
) |
|
$ |
(1 |
) |
|
$ |
1 |
|
|
$ |
(23 |
) |
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
(41 |
) |
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(916 |
) |
|
$ |
(598 |
) |
|
$ |
(102 |
) |
|
$ |
(81 |
) |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(1,700 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
530 |
|
|
|
42 |
|
|
|
— |
|
|
|
573 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(916 |
) |
|
$ |
(598 |
) |
|
$ |
(101 |
) |
|
$ |
449 |
|
|
$ |
40 |
|
|
$ |
— |
|
|
$ |
(1,127 |
) |
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(21 |
) |
|
$ |
(1 |
) |
|
$ |
(2 |
) |
|
$ |
(5 |
) |
|
$ |
— |
|
|
$ |
(29 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(21 |
) |
|
$ |
(1 |
) |
|
$ |
(1 |
) |
|
$ |
(5 |
) |
|
$ |
— |
|
|
$ |
(28 |
) |
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(5 |
) |
|
$ |
(14 |
) |
|
$ |
(13 |
) |
|
$ |
— |
|
|
$ |
(4 |
) |
|
$ |
— |
|
|
$ |
(36 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
12 |
|
|
|
— |
|
|
|
— |
|
|
|
12 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(5 |
) |
|
$ |
(14 |
) |
|
$ |
(13 |
) |
|
$ |
12 |
|
|
$ |
(4 |
) |
|
$ |
— |
|
|
$ |
(24 |
) |
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(3 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
1 |
|
|
|
2 |
|
|
|
— |
|
|
|
4 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
2 |
|
|
$ |
— |
|
|
$ |
1 |
|
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(24 |
) |
|
$ |
(48 |
) |
|
$ |
(14 |
) |
|
$ |
(29 |
) |
|
$ |
(36 |
) |
|
$ |
(64 |
) |
|
$ |
(26 |
) |
|
$ |
— |
|
|
$ |
(241 |
) |
Gross recoveries |
|
|
— |
|
|
|
3 |
|
|
|
4 |
|
|
|
5 |
|
|
|
29 |
|
|
|
38 |
|
|
|
2 |
|
|
|
— |
|
|
|
81 |
|
Net charge-offs |
|
$ |
(24 |
) |
|
$ |
(45 |
) |
|
$ |
(10 |
) |
|
$ |
(24 |
) |
|
$ |
(7 |
) |
|
$ |
(26 |
) |
|
$ |
(24 |
) |
|
$ |
— |
|
|
$ |
(160 |
) |
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(24 |
) |
|
$ |
(50 |
) |
|
$ |
(952 |
) |
|
$ |
(665 |
) |
|
$ |
(152 |
) |
|
$ |
(187 |
) |
|
$ |
(51 |
) |
|
$ |
— |
|
|
$ |
(2,081 |
) |
Gross recoveries |
|
|
— |
|
|
|
3 |
|
|
|
4 |
|
|
|
6 |
|
|
|
31 |
|
|
|
599 |
|
|
|
59 |
|
|
|
— |
|
|
|
702 |
|
Net charge-offs |
|
$ |
(24 |
) |
|
$ |
(47 |
) |
|
$ |
(948 |
) |
|
$ |
(659 |
) |
|
$ |
(121 |
) |
|
$ |
412 |
|
|
$ |
8 |
|
|
$ |
— |
|
|
$ |
(1,379 |
) |
The following table discloses the charge-off and recovery activity by loan type and year of origination for the three month period ending March 31, 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
2025 |
|
|
2024 |
|
|
2023 |
|
|
2022 |
|
|
2021 |
|
|
Prior |
|
|
Revolving Loans
Amortized Cost |
|
|
Revolving Loans
Converted to Term |
|
|
Total |
|
Commercial real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(3 |
) |
|
$ |
(1 |
) |
|
$ |
(14 |
) |
|
$ |
(4 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(22 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
199 |
|
|
|
— |
|
|
|
243 |
|
|
|
— |
|
|
|
— |
|
|
|
442 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(3 |
) |
|
$ |
(1 |
) |
|
$ |
185 |
|
|
$ |
(4 |
) |
|
$ |
243 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
420 |
|
Commercial and industrial |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(40 |
) |
|
$ |
(25 |
) |
|
$ |
(37 |
) |
|
$ |
(20 |
) |
|
$ |
(310 |
) |
|
$ |
(11 |
) |
|
$ |
— |
|
|
$ |
(443 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
4 |
|
|
|
3 |
|
|
|
86 |
|
|
|
279 |
|
|
|
31 |
|
|
|
1 |
|
|
|
404 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(40 |
) |
|
$ |
(21 |
) |
|
$ |
(34 |
) |
|
$ |
66 |
|
|
$ |
(31 |
) |
|
$ |
20 |
|
|
$ |
1 |
|
|
$ |
(39 |
) |
Residential real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(8 |
) |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(13 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
9 |
|
|
|
— |
|
|
|
— |
|
|
|
9 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(1 |
) |
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
(4 |
) |
Agricultural real estate |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(6 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(6 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
54 |
|
|
|
— |
|
|
|
— |
|
|
|
54 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(6 |
) |
|
$ |
— |
|
|
$ |
54 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
48 |
|
Agricultural |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
— |
|
|
$ |
(11 |
) |
|
$ |
(5 |
) |
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(17 |
) |
Gross recoveries |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
|
— |
|
|
|
— |
|
|
|
1 |
|
Net charge-offs |
|
$ |
— |
|
|
$ |
(11 |
) |
|
$ |
(5 |
) |
|
$ |
(1 |
) |
|
$ |
— |
|
|
$ |
1 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
(16 |
) |
Consumer |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(70 |
) |
|
$ |
(41 |
) |
|
$ |
(125 |
) |
|
$ |
(225 |
) |
|
$ |
(60 |
) |
|
$ |
(86 |
) |
|
$ |
(31 |
) |
|
$ |
— |
|
|
$ |
(638 |
) |
Gross recoveries |
|
|
— |
|
|
|
5 |
|
|
|
2 |
|
|
|
20 |
|
|
|
7 |
|
|
|
25 |
|
|
|
5 |
|
|
|
— |
|
|
|
64 |
|
Net charge-offs |
|
$ |
(70 |
) |
|
$ |
(36 |
) |
|
$ |
(123 |
) |
|
$ |
(205 |
) |
|
$ |
(53 |
) |
|
$ |
(61 |
) |
|
$ |
(26 |
) |
|
$ |
— |
|
|
$ |
(574 |
) |
Total loans |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross charge-offs |
|
$ |
(70 |
) |
|
$ |
(95 |
) |
|
$ |
(157 |
) |
|
$ |
(285 |
) |
|
$ |
(84 |
) |
|
$ |
(404 |
) |
|
$ |
(44 |
) |
|
$ |
— |
|
|
$ |
(1,139 |
) |
Gross recoveries |
|
|
— |
|
|
|
5 |
|
|
|
6 |
|
|
|
222 |
|
|
|
93 |
|
|
|
611 |
|
|
|
36 |
|
|
|
1 |
|
|
|
974 |
|
Net charge-offs |
|
$ |
(70 |
) |
|
$ |
(90 |
) |
|
$ |
(151 |
) |
|
$ |
(63 |
) |
|
$ |
9 |
|
|
$ |
207 |
|
|
$ |
(8 |
) |
|
$ |
1 |
|
|
$ |
(165 |
) |
|
| Summary of Amortized Cost Basis of Loans Modified |
The following table presents the amortized cost basis of loans at March 31, 2026, and 2025, that were both experiencing financial difficulty and modified during the three months ended March 31, 2026, and 2025, by class and by type of modification. 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 |
|
Payment Delay |
|
|
Term Extension |
|
|
Combination Payment Delay and Term Extension |
|
|
Total Modifications |
|
Total Class of Financing Receivable |
|
Commercial real estate |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
0.00 |
% |
Commercial and industrial |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
0.00 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
Payment Delay |
|
|
Term Extension |
|
|
Combination Payment Delay and Term Extension |
|
|
Total Modifications |
|
Total Class of Financing Receivable |
|
Commercial real estate |
|
$ |
100 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
100 |
|
|
0.01 |
% |
Commercial and industrial |
|
|
172 |
|
|
|
78 |
|
|
|
37 |
|
|
|
287 |
|
|
0.04 |
% |
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Agricultural |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
0.00 |
% |
Total |
|
$ |
272 |
|
|
$ |
78 |
|
|
$ |
37 |
|
|
$ |
387 |
|
|
0.01 |
% |
|
| Summary of Performance of Loans Modified |
The following table presents the performance of such loans that have been modified during the twelve months ended March 31, 2026, and 2025.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2026 |
|
30 - 59 Days Past Due |
|
|
60 - 89 Days Past Due |
|
|
Greater Than 89 days Past Due |
|
|
Total Past Due |
|
Commercial real estate |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
76 |
|
|
$ |
76 |
|
Commercial and industrial |
|
|
— |
|
|
|
— |
|
|
|
137 |
|
|
|
137 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
213 |
|
|
$ |
213 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31, 2025 |
|
30 - 59 Days Past Due |
|
|
60 - 89 Days Past Due |
|
|
Greater Than 89 days Past Due |
|
|
Total Past Due |
|
Commercial real estate |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
643 |
|
|
$ |
643 |
|
Commercial and industrial |
|
|
78 |
|
|
|
— |
|
|
|
3,584 |
|
|
|
3,662 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Agricultural |
|
|
— |
|
|
|
595 |
|
|
|
— |
|
|
|
595 |
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
Total |
|
$ |
78 |
|
|
$ |
595 |
|
|
$ |
4,227 |
|
|
$ |
4,900 |
|
|
| Schedule of Financial Effect of Loan Modifications to Borrowers Experiencing Financial Difficulty |
The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the three months ended March 31, 2025. There were no modified loans to borrowers experiencing financial difficulty for the three months ended March 31, 2026.
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|
March 31, 2025 |
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Principal Forgiveness |
|
|
Weighted Average Interest Rate Reduction |
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|
Weighted Average Term Extension in Years |
|
Commercial real estate |
|
$ |
— |
|
|
|
— |
|
% |
|
— |
|
Commercial and industrial |
|
|
— |
|
|
|
0.49 |
|
% |
|
0.25 |
|
Residential real estate |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Agricultural real estate |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Agricultural |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Consumer |
|
|
— |
|
|
|
— |
|
% |
|
— |
|
Total loans |
|
$ |
— |
|
|
|
0.49 |
|
% |
|
0.25 |
|
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| Off Balance Sheet Credit Exposure |
The following table lists allowance for credit losses on off-balance-sheet credit exposures as of March 31, 2026, and December 31, 2025.
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Allowance for
Credit Losses |
|
|
|
March 31, 2026 |
|
|
December 31, 2025 |
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Commercial real estate |
|
$ |
301 |
|
|
$ |
272 |
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Commercial and industrial |
|
|
2,010 |
|
|
|
1,409 |
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Agricultural real estate |
|
|
16 |
|
|
|
4 |
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Residential real estate |
|
|
85 |
|
|
|
47 |
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Agricultural |
|
|
5 |
|
|
|
— |
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Consumer |
|
|
84 |
|
|
|
21 |
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Total allowance for credit losses |
|
$ |
2,501 |
|
|
$ |
1,753 |
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