Subsequent Events |
3 Months Ended |
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Mar. 31, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | 19. SUBSEQUENT EVENTS Loan Downgrade In late April 2026, the Company received notification from a borrower regarding its intention not to repay a CRE non‑owner‑occupied loan with an outstanding balance of $99 million. Prior to this notification, the loan had been performing in accordance with its contractual terms and was internally graded as pass. The property securing this loan is a 6-story newly constructed, LEED Silver-certified, Class-A life-science laboratory/office building with a 7-story parking structure, located on a 6.0-acre site in a gateway life-science market. After receiving this notification, the loan was downgraded to substandard and placed on non-accrual status. Following its internal procedures, the Company has ordered an appraisal and will conduct a valuation analysis to determine any financial impact. Problem Loan Management The Company continues to actively manage non-performing loans through its established early identification / early resolution credit process. In early May, the Company received a letter of intent from a third party to purchase a property that serves as the underlying collateral for an unrelated loan that was classified as substandard and non-accrual as of March 31, 2026, at a price approximating the loan’s current carrying value of $60 million.
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