The Company has certain lending policies and procedures in place that are designed to minimize the level of risk within the loan portfolio. Diversification of the loan portfolio manages the risk associated with fluctuations in economic conditions. Authority levels are established for the extension of credit to ensure consistency throughout the Company. It is necessary that policies, processes, and practices implemented to control the risks of individual credit transactions and portfolio segments are sound and adhered to. The Company maintains an independent loan review department that reviews and validates the risk assessment on a continual basis. Management regularly evaluates the results of the loan reviews. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures.

Commercial and industrial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Commercial loans are made based on the identified cash flows of the borrower and on the underlying collateral provided by the borrower. The cash flows of the borrower, however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable or inventory and may incorporate a personal guarantee. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts from its customers. Beginning with the third quarter 2025, commercial and industrial loans include all loans to Non-Depository Financial Institutions (NDFIs), which includes a wide range of financial entities that provide services similar to those of traditional banks but do not accept deposits from the general public and are not regulated by the same federal banking agencies. Previously reported balances have been reclassified for purposes of comparability.

Specialty lending loans include Asset-based loans, which are offered primarily in the form of revolving lines of credit to commercial borrowers that do not generally qualify for traditional bank financing. Asset-based loans are underwritten based primarily upon the value of the collateral pledged to secure the loan, rather than on the borrower’s general financial condition. The Company utilizes pre-loan due diligence techniques, monitoring disciplines, and loan management practices common within the asset-based lending industry to underwrite loans to these borrowers.

Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. The Company requires that an appraisal of the collateral be made at origination and on an as-needed basis, in conformity with current market conditions and regulatory requirements. The underwriting standards address both owner and non-owner-occupied real estate. Also included in Commercial real estate are Construction loans that are underwritten using feasibility studies, independent appraisal reviews, sensitivity analysis or absorption and lease rates, and financial analysis of the developers and property owners. Construction loans are based upon estimates of costs and value associated with the complete project. Construction loans often involve the disbursement of substantial funds with repayment substantially dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans, sales of developed property or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risks than other real estate loans due to their repayment being sensitive to interest rate changes, governmental regulation of real property, economic conditions, completion of the construction project, and the availability of long-term financing.

Consumer real estate loans, including residential real estate and home equity loans, are underwritten based on the borrower’s loan-to-value percentage, collection remedies, and overall credit history.

Consumer loans are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer loans and leases. The underwriting and review practices combined with the relatively small loan amounts that are spread across many individual borrowers, minimizes risk. Consumer loans and leases that are 90 days past due or more are considered non-performing.

Credit cards include both commercial and consumer credit cards. Commercial credit cards are generally unsecured and are underwritten with criteria similar to commercial loans, including an analysis of the borrower’s cash flow, available business capital, and overall creditworthiness of the borrower. Consumer credit cards are underwritten based on the borrower’s repayment ability. The Company monitors delinquencies on all of its consumer credit cards and periodically reviews the distribution of credit scores relative to historical periods to monitor credit risk on its consumer credit card loans.

Credit risk is a potential loss resulting from nonpayment of either the primary or secondary exposure. Credit risk is mitigated with formal risk management practices and a thorough initial credit-granting process including consistent underwriting standards and approval process. Control factors or techniques to minimize credit risk include knowing the client, understanding total exposure, analyzing the client and debtor’s financial capacity, and monitoring the client’s activities. Credit risk and portions of the portfolio risk are managed through concentration considerations, average risk ratings, and other aggregate characteristics.

The following tables provide a summary of loan classes and an aging of past due loans at June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Nonaccrual Loans		Total Past Due		Current		Total Loans
Loans
Commercial and industrial	$	15,797	$	179	$	33,917	$	49,893	$	17,889,869	$	17,939,762
Specialty lending		—		—		—		—		657,710		657,710
Commercial real estate		21,290		—		61,827		83,117		16,484,246		16,567,363
Consumer real estate		5,209		399		30,561		36,169		4,478,048		4,514,217
Consumer		624		5,238		177		6,039		263,158		269,197
Credit cards		8,864		7,899		1,044		17,807		683,425		701,232
Leases and other		—		—		—		—		500,245		500,245
Total loans	$	51,784	$	13,715	$	127,526	$	193,025	$	40,956,701	$	41,149,726


	December 31, 2025
	30-89 Days Past Due and Accruing		Greater than 90 Days Past Due and Accruing		Nonaccrual Loans		Total Past Due		Current		Total Loans
Loans
Commercial and industrial	$	36,391	$	6,417	$	26,633	$	69,441	$	16,201,079	$	16,270,520
Specialty lending		—		—		—		—		518,237		518,237
Commercial real estate		24,786		—		86,838		111,624		16,264,615		16,376,239
Consumer real estate		10,451		244		29,910		40,605		4,395,863		4,436,468
Consumer		689		5,237		777		6,703		232,108		238,811
Credit cards		9,194		6,505		508		16,207		684,526		700,733
Leases and other		—		—		—		—		238,400		238,400
Total loans	$	81,511	$	18,403	$	144,666	$	244,580	$	38,534,828	$	38,779,408

The Company sold consumer real estate loans with proceeds of $60.7 million and $41.7 million in the secondary market without recourse during the six months ended June 30, 2026 and 2025, respectively.

The Company has ceased the recognition of interest on loans with a carrying value of $127.5 million and $144.7 million at June 30, 2026 and December 31, 2025, respectively. Restructured loans totaled $157 thousand and $169 thousand at June 30, 2026 and December 31, 2025, respectively. Loans 90 days past due and still accruing interest amounted to $13.7 million and $18.4 million at June 30, 2026 and December 31, 2025, respectively. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. There was an insignificant amount of interest reversed related to loans on nonaccrual during 2026 and 2025. Nonaccrual loans with no related allowance for credit losses totaled $84.2 million and $76.8 million at June 30, 2026 and December 31, 2025, respectively.


	June 30, 2026
	Amortized Cost Basis by Origination Year - Term Loans
Loan Segment and Type	2026		2025		2024		2023		2022		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Commercial and industrial:
Equipment/Accounts Receivable/Inventory	$	2,117,193	$	2,538,752	$	1,664,541	$	819,602	$	747,661	$	581,891	$	6,144,832	$	20,447	$	14,634,919
Agriculture		15,722		24,780		17,997		20,683		5,307		3,841		353,108		—		441,438
NDFIs		106,719		181,631		293,521		356,570		53,622		18,935		1,832,814		421		2,844,233
Overdrafts		—		—		—		—		—		—		19,172		—		19,172
Total Commercial and industrial		2,239,634		2,745,163		1,976,059		1,196,855		806,590		604,667		8,349,926		20,868		17,939,762
Current period charge-offs		15		—		41		102		71		603		11,440		—		12,272
Specialty lending:
Asset-based lending		51,570		38,437		2,989		—		6,433		46,332		511,949		—		657,710
Total Specialty lending		51,570		38,437		2,989		—		6,433		46,332		511,949		—		657,710
Current period charge-offs		—		—		—		—		—		—		—		—		—
Commercial real estate:
Owner-occupied		535,382		1,157,525		557,615		505,468		885,425		1,288,592		46,994		538		4,977,539
Non-owner-occupied		960,336		1,502,277		739,683		548,768		997,794		1,268,408		39,333		—		6,056,599
Farmland		111,106		264,017		68,862		63,823		96,724		214,606		62,025		—		881,163
5+ Multi-family		255,240		95,985		194,816		132,012		567,165		473,161		6,289		—		1,724,668
1-4 Family construction		51,421		40,213		25,236		—		—		—		—		—		116,870
General construction		505,979		825,964		562,440		564,466		288,487		18,716		44,472		—		2,810,524
Total Commercial real estate		2,419,464		3,885,981		2,148,652		1,814,537		2,835,595		3,263,483		199,113		538		16,567,363
Current period charge-offs		—		—		403		6,145		4,394		995		—		—		11,937
Consumer real estate:
HELOC		591		1,367		478		2,128		2,561		8,528		749,509		2,996		768,158
First lien: 1-4 family		381,589		574,413		323,306		317,289		593,506		1,439,016		855		1,333		3,631,307
Junior lien: 1-4 family		9,881		15,698		24,973		17,417		25,230		21,062		491		—		114,752
Total Consumer real estate		392,061		591,478		348,757		336,834		621,297		1,468,606		750,855		4,329		4,514,217
Current period charge-offs		—		—		29		371		167		327		5		—		899
Consumer:
Revolving line		—		484		34		96		442		707		160,755		6,984		169,502
Auto		6,530		6,380		5,421		6,891		3,407		608		—		—		29,237
Other		5,293		10,126		7,422		2,483		5,301		1,538		38,295		—		70,458
Total Consumer		11,823		16,990		12,877		9,470		9,150		2,853		199,050		6,984		269,197
Current period charge-offs		—		19		47		56		103		12		1,820		—		2,057
Credit cards:
Consumer		—		—		—		—		—		—		348,172		—		348,172
Commercial		—		—		—		—		—		—		353,060		—		353,060
Total Credit cards		—		—		—		—		—		—		701,232		—		701,232
Current period charge-offs		—		—		—		—		—		—		12,202		—		12,202
Leases and other:
Leases		—		—		—		—		—		933		—		—		933
Other		69,283		166,648		15,240		7,871		7,149		10,744		222,377		—		499,312
Total Leases and other		69,283		166,648		15,240		7,871		7,149		11,677		222,377		—		500,245
Current period charge-offs		—		—		—		—		—		—		—		—		—
Total loans	$	5,183,835	$	7,444,697	$	4,504,574	$	3,365,567	$	4,286,214	$	5,397,618	$	10,934,502	$	32,719	$	41,149,726


	December 31, 2025
	Amortized Cost Basis by Origination Year - Term Loans
Loan Segment and Type	2025		2024		2023		2022		2021		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Commercial and industrial:
Equipment/Accounts Receivable/Inventory	$	2,989,029	$	1,901,767	$	1,039,595	$	929,230	$	471,193	$	321,761	$	5,636,442	$	12,186	$	13,301,203
Agriculture		30,385		22,585		24,980		7,827		3,859		3,180		426,729		2,258		521,803
NDFIs		130,392		286,076		368,137		86,436		12,136		29,406		1,517,283		271		2,430,137
Overdrafts		—		—		—		—		—		—		17,377		—		17,377
Total Commercial and industrial		3,149,806		2,210,428		1,432,712		1,023,493		487,188		354,347		7,597,831		14,715		16,270,520
Specialty lending:
Asset-based lending		46,480		5,639		—		5,801		25,763		22,632		411,922		—		518,237
Total Specialty lending		46,480		5,639		—		5,801		25,763		22,632		411,922		—		518,237
Commercial real estate:
Owner-occupied		1,151,075		529,761		599,178		955,385		775,378		724,775		39,505		—		4,775,057
Non-owner-occupied		1,664,285		656,031		847,458		1,018,831		769,616		736,502		41,093		1,054		5,734,870
Farmland		258,796		74,542		85,814		131,009		83,613		163,318		66,403		75		863,570
5+ Multi-family		329,902		179,107		171,945		554,125		434,660		96,475		10,441		—		1,776,655
1-4 Family construction		75,849		11,564		240		520		—		—		1,301		—		89,474
General construction		1,099,253		868,115		719,128		373,196		28,313		16,273		32,335		—		3,136,613
Total Commercial real estate		4,579,160		2,319,120		2,423,763		3,033,066		2,091,580		1,737,343		191,078		1,129		16,376,239
Consumer real estate:
HELOC		2,748		399		756		2,075		577		7,784		698,503		5,331		718,173
First lien: 1-4 family		653,333		368,156		364,405		631,555		735,751		830,570		6,864		13		3,590,647
Junior lien: 1-4 family		20,458		31,221		19,212		28,538		17,405		6,048		4,766		—		127,648
Total Consumer real estate		676,539		399,776		384,373		662,168		753,733		844,402		710,133		5,344		4,436,468
Consumer:
Revolving line		1,485		34		23		49		24		526		160,454		102		162,697
Auto		8,179		7,292		9,743		5,307		1,118		248		—		—		31,887
Other		12,907		11,197		3,514		5,917		853		1,272		8,567		—		44,227
Total Consumer		22,571		18,523		13,280		11,273		1,995		2,046		169,021		102		238,811
Credit cards:
Consumer		—		—		—		—		—		—		347,749		—		347,749
Commercial		—		—		—		—		—		—		352,984		—		352,984
Total Credit cards		—		—		—		—		—		—		700,733		—		700,733
Leases and other:
Leases		—		—		—		—		—		1,214		—		—		1,214
Other		181,160		16,408		8,588		8,713		7,344		1,671		13,302		—		237,186
Total Leases and other		181,160		16,408		8,588		8,713		7,344		2,885		13,302		—		238,400
Total loans	$	8,655,716	$	4,969,894	$	4,262,716	$	4,744,514	$	3,367,603	$	2,963,655	$	9,794,020	$	21,290	$	38,779,408

Accrued interest on loans totaled $174.1 million and $176.1 million as of June 30, 2026 and December 31, 2025, respectively, and is included in the Accrued income line on the Company’s Consolidated Balance Sheets. The total amount of accrued interest is excluded from the amortized cost basis of loans presented above. Further, the Company has elected not to measure an allowance for credit losses for accrued interest receivable.

As part of the on-going monitoring of the credit quality of the Company’s loan portfolio, management tracks certain credit quality indicators including trends related to the risk grading of specified classes of loans, net charge-offs, non-performing loans, and general economic conditions.

The Company utilizes a risk grading matrix to assign a rating to each of its commercial, commercial real estate, and construction real estate loans. Changes in credit risk are monitored on a continuous basis and changes in risk ratings are made when identified. The loan ratings are summarized into the following categories: Pass, Special Mention, Substandard, and Doubtful. Any loan not classified in one of the categories described below is considered to be a Pass loan. A description of the general characteristics of the loan rating categories is as follows:

A discussion of the credit quality indicators that impact each type of collateral securing Commercial and industrial loans is included below:

Equipment, accounts receivable, and inventory General commercial and industrial loans are secured by working capital assets and non-real estate assets. The general purpose of these loans is for financing capital expenditures and current operations for commercial and industrial entities. These assets are short-term in nature. In the case of accounts receivable and inventories, the repayment of debt is reliant upon converting assets into cash or through goods and services being sold and collected. Collateral-based risk is due to aged short-term assets, which can be indicative of underlying issues with the borrower and lead to the value of the collateral being overstated.

Agriculture Agricultural loans are secured by non-real estate agricultural assets. These include shorter-term assets such as equipment, crops, and livestock. The risks associated with loans to finance crops or livestock include the borrower’s ability to successfully raise and market the commodity. Adverse weather conditions and other natural perils can dramatically affect farmers’ or ranchers’ production and ability to service debt. Volatile commodity prices present another significant risk for agriculture borrowers. Market price volatility and production cost volatility can affect both revenues and expenses.

Non-Depository Financial Institutions NDFI loans are secured by working capital assets and non-real estate assets. The general purpose of these loans is for financing capital expenditures and current operations. The repayment of debt is reliant upon converting assets into cash or through services being sold and collected. Collateral-based risk is due to aged short-term assets, which can be indicative of underlying issues with the borrower and lead to the value of the collateral being overstated. Other risks consist of collateral that is secured by the stock

of a NDFI, which can be unlisted stock with a limited market for the stock, or volatility of asset values driven by market performance.

Overdrafts Commercial overdrafts are typically short-term and unsecured. Some commercial borrowers tie their overdraft obligation to their line of credit, so any draw on the line of credit will satisfy the overdraft.

Based on the factors noted above for each type of collateral, the Company assigns risk ratings to borrowers based on their most recently assessed financial position.

The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2026		2025		2024		2023		2022		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Equipment/Accounts Receivable/Inventory
Pass	$	2,064,385	$	2,507,694	$	1,616,205	$	780,852	$	696,623	$	574,866	$	5,920,736	$	10,201	$	14,171,562
Special Mention		102		3,705		30,810		9,142		2,228		1,055		90,700		—		137,742
Substandard		52,206		23,283		13,460		29,594		48,810		5,970		132,934		10,246		316,503
Doubtful		500		4,070		4,066		14		—		—		462		—		9,112
Total Equipment/Accounts Receivable/Inventory	$	2,117,193	$	2,538,752	$	1,664,541	$	819,602	$	747,661	$	581,891	$	6,144,832	$	20,447	$	14,634,919
Agriculture
Pass	$	12,983	$	23,035	$	17,700	$	20,333	$	5,206	$	3,466	$	337,635	$	—	$	420,358
Special Mention		2,447		1,571		—		252		51		36		3,922		—		8,279
Substandard		292		174		297		98		50		339		11,551		—		12,801
Doubtful		—		—		—		—		—		—		—		—		—
Total Agriculture	$	15,722	$	24,780	$	17,997	$	20,683	$	5,307	$	3,841	$	353,108	$	—	$	441,438
NDFIs
Pass	$	106,719	$	181,351	$	286,906	$	354,035	$	50,955	$	18,927	$	1,821,067	$	421	$	2,820,381
Special Mention		—		—		—		—		—		—		11,747		—		11,747
Substandard		—		280		6,615		2,535		2,667		8		—		—		12,105
Doubtful		—		—		—		—		—		—		—		—		—
Total NDFIs	$	106,719	$	181,631	$	293,521	$	356,570	$	53,622	$	18,935	$	1,832,814	$	421	$	2,844,233


	December 31, 2025
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2025		2024		2023		2022		2021		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Equipment/Accounts Receivable/Inventory
Pass	$	2,958,147	$	1,842,768	$	982,320	$	874,006	$	462,210	$	302,753	$	5,404,325	$	4,492	$	12,831,021
Special Mention		4,962		37,671		7,883		6,085		893		9,535		63,256		6,635		136,920
Substandard		21,647		17,207		49,292		49,139		8,090		9,473		168,348		1,059		324,255
Doubtful		4,273		4,121		100		—		—		—		513		—		9,007
Total Equipment/Accounts Receivable/Inventory	$	2,989,029	$	1,901,767	$	1,039,595	$	929,230	$	471,193	$	321,761	$	5,636,442	$	12,186	$	13,301,203
Agriculture
Pass	$	26,921	$	22,252	$	24,757	$	7,254	$	3,824	$	2,622	$	406,985	$	815	$	495,430
Special Mention		2,464		—		—		71		35		—		5,374		—		7,944
Substandard		1,000		333		223		502		—		558		14,370		—		16,986
Doubtful		—		—		—		—		—		—		—		1,443		1,443
Total Agriculture	$	30,385	$	22,585	$	24,980	$	7,827	$	3,859	$	3,180	$	426,729	$	2,258	$	521,803
NDFIs
Pass	$	129,859	$	277,053	$	364,738	$	82,934	$	11,470	$	29,289	$	1,489,473	$	221	$	2,385,037
Special Mention		—		—		—		—		2		—		27,810		50		27,862
Substandard		533		9,023		3,399		3,502		664		117		—		—		17,238
Doubtful		—		—		—		—		—		—		—		—		—
Total NDFIs	$	130,392	$	286,076	$	368,137	$	86,436	$	12,136	$	29,406	$	1,517,283	$	271	$	2,430,137

A discussion of the credit quality indicators that impact each type of collateral securing Specialty loans is included below:

Asset-based lending General asset-based loans are secured by accounts receivable, inventory, equipment, and real estate. The purpose of these loans is for financing current operations for commercial customers. The repayment of debt is reliant upon collection of the accounts receivable within 30 to 90 days or converting assets into cash or through goods and services being sold and collected. The Company tracks each individual borrower credit risk based on their loan to collateral position. Any borrower position where the underlying value of collateral is below the fair value of the loan is considered out-of-margin and inherently higher risk.

A discussion of the credit quality indicators that impact each type of collateral securing Commercial real estate loans is included below:

Owner-occupied Owner-occupied loans are secured by commercial real estate. These loans are often longer tenured and susceptible to multiple economic cycles. The loans rely on the owner-occupied operations to service debt which cover a broad spectrum of industries. Real estate debt can carry a significant amount of leverage for a borrower to maintain.

Non-owner-occupied Non-owner-occupied loans are secured by commercial real estate. These loans are often longer tenured and susceptible to multiple economic cycles. The key element of risk in this type of lending is the cyclical nature of real estate markets. Although national conditions affect the overall real estate industry, the effect of national conditions on local markets is equally important. Factors such as unemployment rates, consumer demand, household formation, and the level of economic activity can vary widely from state to state and among metropolitan areas. In addition to geographic considerations, markets can be defined by property type. While all sectors are influenced by economic conditions, some sectors are more sensitive to certain economic factors than others.

Farmland Farmland loans are secured by real estate used for agricultural purposes such as crop and livestock production. Assets used as collateral are long-term assets that carry the ability to have longer amortizations and maturities. Longer terms carry the risk of added susceptibility to market conditions. The limited purpose of some Agriculture-related collateral affects credit risk because such collateral may have limited or no other uses to support values when loan repayment problems emerge.

5+ Multi-family 5+ multi-family loans are secured by a multi-family residential property. The primary risks associated with this type of collateral are largely driven by economic conditions. The national and local market conditions can change with unemployment rates or competing supply of multi-family housing. Tenants may not be able to afford their housing or have better options and this can result in increased vacancy. Rents may need to be lowered to fill apartment units. Increased vacancy and lower rental rates not only drive the borrower’s ability to repay debt but also contribute to how the collateral is valued.

1-4 Family construction 1-4 family construction loans are secured by 1-4 family residential real estate and are in the process of construction or improvements being made. The predominant risk inherent to this portfolio is the risk associated with a borrower’s ability to successfully complete a project on time and within budget. Market conditions also play an important role in understanding the risk profile. Risk from adverse changes in market conditions from the start of development to completion can result in deflated collateral values.

General construction General construction loans are secured by commercial real estate in process of construction or improvements being made and their repayment is dependent on the collateral’s completion. Construction lending presents unique risks not encountered in term financing of existing real estate. The predominant risk inherent to this portfolio is the risk associated with a borrower’s ability to successfully complete a project on time and within budget. Commercial properties under construction are susceptible to market and economic conditions. Demand from prospective customers may erode after construction begins because of a general economic slowdown or an increase in the supply of competing properties.

Based on the factors noted above for each type of collateral, the Company assigns risk ratings to borrowers based on their most recently assessed financial position.


	June 30, 2026
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2026		2025		2024		2023		2022		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Owner-occupied
Pass	$	477,420	$	1,143,977	$	554,446	$	463,876	$	843,516	$	1,244,377	$	46,004	$	538	$	4,774,154
Special Mention		51,659		3,689		116		—		16,406		15,850		340		—		88,060
Substandard		6,303		9,859		3,053		41,592		25,503		28,365		650		—		115,325
Doubtful		—		—		—		—		—		—		—		—		—
Total Owner-occupied	$	535,382	$	1,157,525	$	557,615	$	505,468	$	885,425	$	1,288,592	$	46,994	$	538	$	4,977,539
Non-owner-occupied
Pass	$	931,798	$	1,502,277	$	735,807	$	527,055	$	974,214	$	1,225,011	$	34,371	$	—	$	5,930,533
Special Mention		—		—		1,877		16,581		8,373		15,955		—		—		42,786
Substandard		28,538		—		1,999		5,128		15,207		27,442		4,962		—		83,276
Doubtful		—		—		—		4		—		—		—		—		4
Total Non-owner-occupied	$	960,336	$	1,502,277	$	739,683	$	548,768	$	997,794	$	1,268,408	$	39,333	$	—	$	6,056,599
Farmland
Pass	$	101,410	$	232,209	$	62,847	$	46,198	$	84,721	$	176,726	$	61,026	$	—	$	765,137
Special Mention		5,325		23,286		185		236		629		3,200		—		—		32,861
Substandard		4,371		8,522		5,830		17,389		11,374		34,680		999		—		83,165
Doubtful		—		—		—		—		—		—		—		—		—
Total Farmland	$	111,106	$	264,017	$	68,862	$	63,823	$	96,724	$	214,606	$	62,025	$	—	$	881,163
5+ Multi-family
Pass	$	216,409	$	95,985	$	194,816	$	113,863	$	558,021	$	472,075	$	6,284	$	—	$	1,657,453
Special Mention		38,831		—		—		—		97		1,086		5		—		40,019
Substandard		—		—		—		18,149		9,047		—		—		—		27,196
Doubtful		—		—		—		—		—		—		—		—		—
Total 5+ Multi-family	$	255,240	$	95,985	$	194,816	$	132,012	$	567,165	$	473,161	$	6,289	$	—	$	1,724,668
1-4 Family construction
Pass	$	50,751	$	40,213	$	24,781	$	—	$	—	$	—	$	—	$	—	$	115,745
Special Mention		670		—		455		—		—		—		—		—		1,125
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total 1-4 Family construction	$	51,421	$	40,213	$	25,236	$	—	$	—	$	—	$	—	$	—	$	116,870
General construction
Pass	$	494,647	$	811,295	$	558,292	$	527,131	$	249,472	$	15,398	$	37,222	$	—	$	2,693,457
Special Mention		3,693		14,570		4,148		404		19,334		1,865		—		—		44,014
Substandard		7,639		—		—		36,931		19,681		1,453		7,250		—		72,954
Doubtful		—		99		—		—		—		—		—		—		99
Total General construction	$	505,979	$	825,964	$	562,440	$	564,466	$	288,487	$	18,716	$	44,472	$	—	$	2,810,524


	December 31, 2025
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2025		2024		2023		2022		2021		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Owner-occupied
Pass	$	1,135,389	$	489,616	$	529,515	$	904,187	$	751,944	$	681,592	$	39,385	$	—	$	4,531,628
Special Mention		4,148		37,092		19,605		30,991		11,892		27,290		120		—		131,138
Substandard		11,538		3,053		50,058		20,207		11,542		15,893		—		—		112,291
Doubtful		—		—		—		—		—		—		—		—		—
Total Owner-occupied	$	1,151,075	$	529,761	$	599,178	$	955,385	$	775,378	$	724,775	$	39,505	$	—	$	4,775,057
Non-owner-occupied
Pass	$	1,619,478	$	652,107	$	827,493	$	974,293	$	749,272	$	716,905	$	36,134	$	1,054	$	5,576,736
Special Mention		23,339		1,950		—		19,994		745		12,307		—		—		58,335
Substandard		21,468		1,974		7,013		17,856		19,599		7,290		4,959		—		80,159
Doubtful		—		—		12,952		6,688		—		—		—		—		19,640
Total Non-owner-occupied	$	1,664,285	$	656,031	$	847,458	$	1,018,831	$	769,616	$	736,502	$	41,093	$	1,054	$	5,734,870
Farmland
Pass	$	230,559	$	67,852	$	65,697	$	116,281	$	80,909	$	124,702	$	65,013	$	75	$	751,088
Special Mention		18,101		342		—		115		120		1,869		—		—		20,547
Substandard		10,136		6,348		20,117		14,613		2,584		36,747		1,390		—		91,935
Doubtful		—		—		—		—		—		—		—		—		—
Total Farmland	$	258,796	$	74,542	$	85,814	$	131,009	$	83,613	$	163,318	$	66,403	$	75	$	863,570
5+ Multi-family
Pass	$	329,902	$	179,107	$	157,535	$	543,003	$	426,213	$	96,282	$	10,441	$	—	$	1,742,483
Special Mention		—		—		238		2,891		8,447		193		—		—		11,769
Substandard		—		—		14,172		8,231		—		—		—		—		22,403
Doubtful		—		—		—		—		—		—		—		—		—
Total 5+ Multi-family	$	329,902	$	179,107	$	171,945	$	554,125	$	434,660	$	96,475	$	10,441	$	—	$	1,776,655
1-4 Family construction
Pass	$	74,900	$	11,104	$	—	$	520	$	—	$	—	$	1,301	$	—	$	87,825
Special Mention		949		460		240		—		—		—		—		—		1,649
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total 1-4 Family construction	$	75,849	$	11,564	$	240	$	520	$	—	$	—	$	1,301	$	—	$	89,474
General construction
Pass	$	1,078,840	$	865,015	$	684,507	$	333,717	$	23,062	$	14,951	$	25,085	$	—	$	3,025,177
Special Mention		14,579		3,100		128		18,919		1,903		29		—		—		38,658
Substandard		5,732		—		34,493		20,560		3,348		1,293		7,250		—		72,676
Doubtful		102		—		—		—		—		—		—		—		102
Total General construction	$	1,099,253	$	868,115	$	719,128	$	373,196	$	28,313	$	16,273	$	32,335	$	—	$	3,136,613

A discussion of the credit quality indicators that impact each type of collateral securing Consumer real estate loans is included below:

HELOC HELOC loans are revolving lines of credit secured by 1-4 family residential property. The primary risk is the borrower’s inability to repay debt. Revolving notes are often associated with HELOCs that can be secured by real estate without a 1st lien priority. Collateral is susceptible to market volatility impacting home values or economic downturns.

First lien: 1-4 family First lien 1-4 family loans are secured by a first lien on 1-4 family residential property. These term loans carry longer maturities and amortizations. The longer tenure exposes the borrower to multiple economic cycles, coupled with longer amortizations that result in smaller principal reduction early in the life of the loan. Collateral is susceptible to market volatility impacting home values.

Junior lien: 1-4 family Junior lien 1-4 family loans are secured by a junior lien on 1-4 family residential property. The Company’s primary risk is the borrower’s inability to repay debt and not being in a first lien position. Collateral is susceptible to market volatility impacting home values or economic downturns.

A borrower is considered non-performing if the Company has ceased the recognition of interest and the loan is placed on non-accrual. Charge-offs and borrower performance are tracked on a loan origination vintage basis. Certain vintages, based on their maturation cycle, could be at higher risk due to collateral-based risk factors.

The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2026		2025		2024		2023		2022		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
HELOC
Performing	$	532	$	1,356	$	117	$	1,001	$	1,787	$	6,139	$	749,352	$	2,546	$	762,830
Non-performing		59		11		361		1,127		774		2,389		157		450		5,328
Total HELOC	$	591	$	1,367	$	478	$	2,128	$	2,561	$	8,528	$	749,509	$	2,996	$	768,158
First lien: 1-4 family
Performing	$	380,978	$	572,745	$	322,776	$	312,864	$	586,081	$	1,430,073	$	855	$	1,333	$	3,607,705
Non-performing		611		1,668		530		4,425		7,425		8,943		—		—		23,602
Total First lien: 1-4 family	$	381,589	$	574,413	$	323,306	$	317,289	$	593,506	$	1,439,016	$	855	$	1,333	$	3,631,307
Junior lien: 1-4 family
Performing	$	9,881	$	15,698	$	24,934	$	17,297	$	25,178	$	20,748	$	491	$	—	$	114,227
Non-performing		—		—		39		120		52		314		—		—		525
Total Junior lien: 1-4 family	$	9,881	$	15,698	$	24,973	$	17,417	$	25,230	$	21,062	$	491	$	—	$	114,752


	December 31, 2025
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2025		2024		2023		2022		2021		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
HELOC
Performing	$	2,736	$	87	$	407	$	1,343	$	324	$	5,979	$	697,853	$	4,358	$	713,087
Non-performing		12		312		349		732		253		1,805		650		973		5,086
Total HELOC	$	2,748	$	399	$	756	$	2,075	$	577	$	7,784	$	698,503	$	5,331	$	718,173
First lien: 1-4 family
Performing	$	608,545	$	367,915	$	359,419	$	624,670	$	732,306	$	824,314	$	6,864	$	13	$	3,524,046
Non-performing		44,788		241		4,986		6,885		3,445		6,256		—		—		66,601
Total First lien: 1-4 family	$	653,333	$	368,156	$	364,405	$	631,555	$	735,751	$	830,570	$	6,864	$	13	$	3,590,647
Junior lien: 1-4 family
Performing	$	20,419	$	30,975	$	19,202	$	28,417	$	17,324	$	5,974	$	4,766	$	—	$	127,077
Non-performing		39		246		10		121		81		74		—		—		571
Total Junior lien: 1-4 family	$	20,458	$	31,221	$	19,212	$	28,538	$	17,405	$	6,048	$	4,766	$	—	$	127,648

A discussion of the credit quality indicators that impact each type of collateral securing Consumer loans is included below:

Revolving line Consumer Revolving lines of credit are secured by consumer assets other than real estate. The primary risk associated with this collateral is related to market volatility and the value of the underlying financial assets.

Auto Direct consumer auto loans are secured by new and used consumer vehicles. The primary risk with this collateral class is the rate at which the collateral depreciates.

Other This category includes Other consumer loans made to an individual. The primary risk for this category is for those loans where the loan is unsecured. This collateral type also includes other unsecured lending such as consumer overdrafts.

The following tables provide a summary of the amortized cost balance by collateral type and risk rating as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2026		2025		2024		2023		2022		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Revolving line
Performing	$	—	$	484	$	34	$	96	$	442	$	705	$	160,751	$	6,937	$	169,449
Non-performing		—		—		—		—		—		2		4		47		53
Total Revolving line	$	—	$	484	$	34	$	96	$	442	$	707	$	160,755	$	6,984	$	169,502
Auto
Performing	$	6,530	$	6,380	$	5,421	$	6,891	$	3,375	$	603	$	—	$	—	$	29,200
Non-performing		—		—		—		—		32		5		—		—		37
Total Auto	$	6,530	$	6,380	$	5,421	$	6,891	$	3,407	$	608	$	—	$	—	$	29,237
Other
Performing	$	5,293	$	10,126	$	7,386	$	2,483	$	5,283	$	1,515	$	38,295	$	—	$	70,381
Non-performing		—		—		36		—		18		23		—		—		77
Total Other	$	5,293	$	10,126	$	7,422	$	2,483	$	5,301	$	1,538	$	38,295	$	—	$	70,458


	December 31, 2025
	Amortized Cost Basis by Origination Year - Term Loans
Risk by Collateral	2025		2024		2023		2022		2021		Prior		Amortized Cost - Revolving Loans		Amortized Cost - Revolving Loans Converted to Term Loans		Total
Revolving line
Performing	$	1,485	$	34	$	23	$	47	$	24	$	525	$	159,834	$	99	$	162,071
Non-performing		—		—		—		2		—		1		620		3		626
Total Revolving line	$	1,485	$	34	$	23	$	49	$	24	$	526	$	160,454	$	102	$	162,697
Auto
Performing	$	8,179	$	7,292	$	9,725	$	5,290	$	1,109	$	248	$	—	$	—	$	31,843
Non-performing		—		—		18		17		9		—		—		—		44
Total Auto	$	8,179	$	7,292	$	9,743	$	5,307	$	1,118	$	248	$	—	$	—	$	31,887
Other
Performing	$	12,905	$	11,161	$	3,514	$	5,893	$	849	$	1,245	$	8,567	$	—	$	44,134
Non-performing		2		36		—		24		4		27		—		—		93
Total Other	$	12,907	$	11,197	$	3,514	$	5,917	$	853	$	1,272	$	8,567	$	—	$	44,227

A discussion of the credit quality indicators that impact Credit card loans is included below:

Consumer Consumer credit card loans are revolving loans made to individuals. The primary risk associated with this collateral class is credit card debt which is generally unsecured; therefore, repayment depends primarily on a borrower’s willingness and capacity to repay. The highly competitive environment for credit card lending provides consumers with ample opportunity to hold several credit cards from different issuers and to pay only minimum monthly payments on outstanding balances. In such an environment, borrowers may become over-extended and unable to repay, particularly in times of an economic downturn or a personal catastrophic event.

The consumer credit card portfolio is segmented by borrower payment activity. Transactors are defined as accounts that pay off their balance by the end of each statement cycle. Revolvers are defined as an account that carries a balance from one statement cycle to the next. These accounts incur monthly finance charges, and, sometimes, late fees. Revolvers are inherently higher risk and are tracked by credit score.

A co-branded credit card portfolio is also segmented between current and significantly delinquent loans, with accounts being considered significantly delinquent after 60 days. Current loans are segmented by borrower payment activity as described above. Significantly delinquent loans are tracked by the number of cycles past due.

Commercial Commercial credit card loans are revolving loans made to small and commercial businesses. The primary risk associated with this collateral class is credit card debt which is generally unsecured; therefore, repayment depends primarily on a borrower’s willingness and capacity to repay. Borrowers may become over-extended and unable to repay, particularly in times of an economic downturn or a catastrophic event.

The commercial credit card portfolio is segmented by current and past due payment status. A borrower is past due after 30 days. In general, commercial credit card customers do not have incentive to hold a balance resulting in paying interest on credit card debt as commercial customers will typically have other debt obligations with lower interest rates in which they can utilize for capital.

A discussion of the credit quality indicators that impact each type of collateral securing Leases and other loans is included below:

Leases Leases are either loans to individuals for household, family, and other personal expenditures or are loans related to all other direct financing and leveraged leases on property for leasing to lessees other than for household, family and other personal expenditure purposes. All leases are secured by the lease between the lessor and the lessee. These assignments grant the creditor a security interest in the rent stream from any lease, an important source of cash to pay the note in case of the borrower’s default.

Other Other loans are loans that are obligations of states and political subdivisions in the U.S., loans for purchasing or carrying securities, or all other non-consumer loans. Risk associated with other loans is tied to the underlying collateral by each type of loan. Collateral is generally equipment, accounts receivable, inventory, 1-4 family residential construction and is susceptible to the same risks mentioned with those collateral types previously.

Based on the factors noted above for each type of collateral, the Company assigns risk ratings to borrowers based on their most recently assessed financial position.

The ACL is a valuation account that is deducted from loans’ and held-to-maturity (HTM) securities’ amortized cost bases to present the net amount expected to be collected on the instrument. Loans and HTM securities are charged off against the ACL when management believes the balance has become uncollectible. Expected recoveries are included in the allowance and do not exceed the aggregate of amounts previously charged-off and expected to be charged-off.

Management estimates the allowance balance using relevant available information, from internal and external sources, related to past events, current conditions, and reasonable and supportable economic forecasts. Historical credit loss experience provides the basis for the estimation of expected credit losses and is tracked over an economic cycle to capture a ‘through the cycle’ loss history. Adjustments to historical loss information are made for differences in current loan-specific risk characteristics such as differences in portfolio industry-based segmentation, risk rating and credit score changes, average prepayment rates, changes in environmental conditions, or other relevant factors. For economic forecasts, the Company uses the Moody’s baseline scenario. The Company has developed a dynamic reasonable and supportable forecast period that ranges from one to three years and changes based on economic conditions. The Company’s reasonable and supportable forecast period is one year. After the reasonable and supportable forecast period, the Company reverts to historical losses. The reversion method applied to each portfolio can either be cliff in which the Company reverts immediately to historical losses or straight-line over four quarters.

The ACL is measured on a collective (pool) basis when similar risk characteristics exist. The ACL also incorporates qualitative factors which represent adjustments to historical credit loss experience for items such as concentrations of credit and results of internal loan review. The Company has identified the following portfolio segments and measures the allowance for credit losses using the following methods. The Company’s portfolio segmentation consists of Commercial and industrial, Specialty lending, Commercial real estate, Consumer real estate, Consumer, Credit cards, Leases and other, and Held-to-maturity securities. Multiple modeling techniques are used to measure credit losses based on the portfolio.

The ACL for Commercial and industrial and Leases and other segments are measured using a probability of default and loss given default method. Primary risk drivers within the segment are risk ratings of the individual loans along with changes of macro-economic variables. The economic variables utilized are typically comprised of leading and lagging indicators. The ACL for Commercial and industrial loans is calculated by modeling probability of default (PD) over future periods multiplied by historical loss given default rates (LGD) multiplied by contractual exposure at default minus any estimated prepayments and charge offs.

Collateral positions for Specialty lending loans are continuously monitored by the Company and the borrower is required to continually adjust the amount of collateral securing the loan. Credit losses are measured for any position where the amortized cost basis is greater than the fair value of the collateral. The ACL for specialty lending loans is calculated by using a bottom-up approach comparing collateral values to outstanding balances.

The ACL for the Commercial real estate segment is measured using a PD and LGD method. Primary risk characteristics within the segment are risk ratings of the individual loans, along with changes of macro-economic variables, such as interest rates, CRE price index, median household income, construction activity, farm income, and vacancy rates. The ACL for Commercial real estate loans is calculated by modeling PD over future periods based on peer bank data. The PD loss rate is then multiplied by historical LGD multiplied by contractual exposure at default minus any estimated prepayments and charge offs.

The ACL for the Consumer real estate and Consumer segments are measured using an origination vintage loss rate method applied to the loans’ amortized cost balance. The primary risk driver within the segments is year of origination along with changes of macro-economic variables such as unemployment and the home price index.

The Credit card segment contains both consumer and commercial credit cards. The ACL for Consumer credit cards is measured using a PD and LGD method for Revolvers and average historical loss rates across a defined lookback period for Transactors. The PD and LGD method used for Revolvers is similar in nature to the method used in the Commercial and industrial and Commercial real estate segments. Primary risk drivers within the segment are credit ratings of the individual card holders along with changes of macro-economic variables such as

unemployment and retail sales. The ACL for Commercial credit cards is measured using roll-rate loss rate method based on days past due.

The ACL for the State and political HTM securities segment is measured using a loss rate method based on historical bond rating transitions. Primary risk drivers within the segment are bond ratings in the portfolio along with changes of macro-economic conditions. There is no ACL for the U.S. Treasury and GSE mortgage-backed HTM securities portfolios as they are considered to be agency-backed securities with no risk of loss as they are either explicitly or implicitly guaranteed by the U.S. government. For further discussion on these securities, including the aging and amortized cost balance of HTM securities, see Note 5, “Securities.”

See the credit quality indicators presented previously for a summary of current risk in the Company’s portfolio. Changes in economic forecasts will affect all portfolio segments, updated financial records from borrowers will affect portfolio segments by risk rating, updated credit scores will affect consumer credit cards, payment performance will affect consumer and commercial credit card portfolio segments, and updated bond credit ratings will affect held-to-maturity securities. The Company actively monitors all credit quality indicators for risk changes that will influence the current estimate.

Expected credit losses are estimated over the contractual term of the loans, adjusted for prepayments when appropriate. The contractual term excludes expected extensions, renewals, and modifications unless either of the following applies: management has a reasonable expectation at the reporting date that a concessionary loan term has been granted to a borrower experiencing financial difficulty or the extension or renewal options are included in the original or modified contract at the reporting date and are not unconditionally cancelable by the Company.

Credit card receivables do not have stated maturities. In determining the estimated life of a credit card receivable, management first estimates the future cash flows expected to be received and then applies those expected future cash flows to the credit card balance. Expected credit losses for credit cards are determined by estimating the amount and timing of principal payments expected to be received as payment for the balance outstanding as of the reporting period until the expected payments have been fully allocated. The ACL is recorded for the excess of the balance outstanding as of the reporting period over the expected principal payments.

Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually include loans on nonaccrual, loans that include modifications deemed concessionary made to borrowers experiencing financial difficulty, or any loans specifically identified, and are excluded from the collective evaluation. When it is determined that payment of interest or recovery of all principal is questionable, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for undiscounted selling costs as appropriate. All loans are classified as collateral dependent if placed on non-accrual or include modifications made to borrowers experiencing financial difficulty.

This table provides a rollforward of the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2026 and June 30, 2025 (in thousands):


	Three Months Ended June 30, 2026
	Commercial and industrial			Specialty lending		Commercial real estate			Consumer real estate			Consumer			Credit cards			Leases and other		Total - Loans			HTM			Total
Allowance for credit losses:
Beginning balance	$	252,669		$	—	$	146,435		$	5,134		$	1,319		$	18,531		$	1,788	$	425,876		$	3,357		$	429,233
Charge-offs		(8,923	)		—		(1,173	)		(386	)		(972	)		(6,326	)		—		(17,780	)		—			(17,780	)
Recoveries		422			—		26			22			154			1,295			—		1,919			—			1,919
Provision		51,144			—		(33,292	)		940			1,470			4,590			2,509		27,361			639			28,000
Ending balance - ACL	$	295,312		$	—	$	111,996		$	5,710		$	1,971		$	18,090		$	4,297	$	437,376		$	3,996		$	441,372
Allowance for credit losses on off-balance sheet credit exposures:
Beginning balance	$	3,865		$	—	$	1,608		$	116		$	77		$	—		$	31	$	5,697		$	24		$	5,721
Provision		96			—		(197	)		(17	)		6			—			114		2			(2	)		—
Ending balance - ACL on off-balance sheet	$	3,961		$	—	$	1,411		$	99		$	83		$	—		$	145	$	5,699		$	22		$	5,721


	Three Months Ended June 30, 2025
	Commercial and industrial			Specialty lending		Commercial real estate			Consumer real estate			Consumer			Credit cards			Leases and other		Total - Loans			HTM			Total
Allowance for credit losses:
Beginning balance	$	192,755		$	—	$	149,345		$	4,798		$	1,488		$	19,995		$	541	$	368,922		$	4,566		$	373,488
PCD allowance for credit loss at acquisition		9,883			—		5,284			—			—			—			—		15,167			—			15,167
Charge-offs		(6,112	)		—		(4,178	)		(400	)		(681	)		(5,524	)		—		(16,895	)		—			(16,895	)
Recoveries		120			—		184			147			126			856			—		1,433			—			1,433
Provision		14,082			—		2,854			976			634			2,586			159		21,291			(291	)		21,000
Ending balance - ACL	$	210,728		$	—	$	153,489		$	5,521		$	1,567		$	17,913		$	700	$	389,918		$	4,275		$	394,193
Allowance for credit losses on off-balance sheet credit exposures:
Beginning balance	$	5,535		$	—	$	2,412		$	138		$	91		$	—		$	35	$	8,211		$	10		$	8,221
Initial allowance for credit loss at acquisition		—			—		—			—			—			—			—		—			—			—
Provision		(1,204	)		—		1,128			42			7			—			19		(8	)		8			—
Ending balance - ACL on off-balance sheet	$	4,331		$	—	$	3,540		$	180		$	98		$	—		$	54	$	8,203		$	18		$	8,221


	Six Months Ended June 30, 2026
	Commercial and industrial			Specialty lending		Commercial real estate			Consumer real estate			Consumer			Credit cards			Leases and other		Total - Loans			HTM		Total
Allowance for credit losses:
Beginning balance	$	240,324		$	—	$	151,060		$	6,938		$	1,387		$	18,042		$	1,727	$	419,478		$	1,684	$	421,162
Charge-offs		(12,272	)		—		(11,937	)		(899	)		(2,057	)		(12,202	)		—		(39,367	)		—		(39,367	)
Recoveries		1,512			—		29			41			453			2,522			20		4,577			—		4,577
Provision		65,748			—		(27,156	)		(370	)		2,188			9,728			2,550		52,688			2,312		55,000
Ending balance - ACL	$	295,312		$	—	$	111,996		$	5,710		$	1,971		$	18,090		$	4,297	$	437,376		$	3,996	$	441,372
Allowance for credit losses on off-balance sheet credit exposures:
Beginning balance	$	2,886		$	—	$	2,548		$	154		$	91		$	—		$	27	$	5,706		$	15	$	5,721
Provision		1,075			—		(1,137	)		(55	)		(8	)		—			118		(7	)		7		—
Ending balance - ACL on off-balance sheet	$	3,961		$	—	$	1,411		$	99		$	83		$	—		$	145	$	5,699		$	22	$	5,721


	Six Months Ended June 30, 2025
	Commercial and industrial			Specialty lending		Commercial real estate			Consumer real estate			Consumer			Credit cards			Leases and other			Total - Loans			HTM			Total
Allowance for credit losses:
Beginning balance	$	161,553		$	—	$	77,340		$	4,327		$	966		$	14,272		$	631		$	259,089		$	2,645		$	261,734
PCD allowance for credit loss at acquisition		45,026			—		32,048			206			13			—			—			77,293			—			77,293
Charge-offs		(32,108	)		—		(6,502	)		(1,629	)		(1,423	)		(12,200	)		—			(53,862	)		—			(53,862	)
Recoveries		189			—		184			163			245			1,747			—			2,528			—			2,528
Provision		36,068			—		50,419			2,454			1,766			14,094			69			104,870			1,630			106,500
Ending balance - ACL	$	210,728		$	—	$	153,489		$	5,521		$	1,567		$	17,913		$	700		$	389,918		$	4,275		$	394,193
Allowance for credit losses on off-balance sheet credit exposures:
Beginning balance	$	2,234		$	—	$	1,741		$	70		$	16		$	—		$	63		$	4,124		$	14		$	4,138
Initial allowance for credit loss at acquisition		2,166			—		1,192			63			41			—			114			3,576			7			3,583
Provision		(69	)		—		607			47			41			—			(123	)		503			(3	)		500
Ending balance - ACL on off-balance sheet	$	4,331		$	—	$	3,540		$	180		$	98		$	—		$	54		$	8,203		$	18		$	8,221

Purchased loans that reflect a more than insignificant credit deterioration since origination at the date of acquisition are classified as PCD loans. PCD loans are recorded at fair value plus the ACL expected at the time of acquisition. Upon the acquisition of HTLF, the Company recorded $62.1 million to establish the PCD ACL. During the second and third quarters of 2025, the Company recorded an additional $15.2 million and $8.0 million, respectively, to the PCD ACL based on credit factors that were determined to be in existence as of the date of acquisition.

The allowance for credit losses on off-balance sheet credit exposures is recorded in the Accrued expenses and taxes line of the Company’s Consolidated Balance Sheets. See Note 10 “Commitments, Contingencies and Guarantees.”

The following tables provide the amortized cost balance of financial assets considered collateral dependent as of June 30, 2026 and December 31, 2025 (in thousands):


	June 30, 2026
Loan Segment and Type	Amortized Cost of Collateral Dependent Assets		Related Allowance for Credit Losses		Amortized Cost of Collateral Dependent Assets with no related Allowance
Commercial and industrial:
Equipment/Accounts Receivable/Inventory	$	28,942	$	9,214	$	13,077
Agriculture		759		—		759
NDFIs		4,216		3,825		392
Total Commercial and industrial		33,917		13,039		14,228
Specialty lending:
Asset-based lending		—		—		—
Total Specialty lending		—		—		—
Commercial real estate:
Owner-occupied		19,930		895		17,601
Non-owner-occupied		24,009		3,256		3,689
Farmland		3,274		—		3,274
5+ Multi-family		14,568		—		14,568
1-4 Family construction		—		—		—
General construction		183		—		183
Total Commercial real estate		61,964		4,151		39,315
Consumer real estate:
HELOC		5,523		—		5,523
First lien: 1-4 family		24,482		52		23,472
Junior lien: 1-4 family		556		—		556
Total Consumer real estate		30,561		52		29,551
Consumer:
Revolving line		61		—		61
Auto		39		—		39
Other		77		—		77
Total Consumer		177		—		177
Leases and other:
Leases		—		—		—
Other		—		—		—
Total Leases and other		—		—		—
Total loans	$	126,619	$	17,242	$	83,271


	December 31, 2025
Loan Segment and Type	Amortized Cost of Collateral Dependent Assets		Related Allowance for Credit Losses		Amortized Cost of Collateral Dependent Assets with no related Allowance
Commercial and industrial:
Equipment/Accounts Receivable/Inventory	$	23,594	$	10,741	$	9,274
Agriculture		2,186		687		743
NDFIs		853		—		853
Total Commercial and industrial		26,633		11,428		10,870
Specialty lending:
Asset-based lending		—		—		—
Total Specialty lending		—		—		—
Commercial real estate:
Owner-occupied		10,905		2,240		3,746
Non-owner-occupied		50,955		9,093		8,957
Farmland		3,389		—		3,389
5+ Multi-family		14,324		—		14,324
1-4 Family construction		—		—		—
General construction		7,408		161		5,700
Total Commercial real estate		86,981		11,494		36,116
Consumer real estate:
HELOC		5,319		—		5,319
First lien: 1-4 family		23,969		205		22,720
Junior lien: 1-4 family		622		—		622
Total Consumer real estate		29,910		205		28,661
Consumer:
Revolving line		633		—		633
Auto		47		—		47
Other		97		—		97
Total Consumer		777		—		777
Leases and other:
Leases		—		—		—
Other		—		—		—
Total Leases and other		—		—		—
Total loans	$	144,301	$	23,127	$	76,424

In the normal course of business, the Company may execute loan modifications with borrowers. These modifications are analyzed to determine whether the modification is considered concessionary, long term and made to a borrower experiencing financial difficulty. The Company’s modifications generally include interest rate adjustments, principal reductions, and amortization and maturity date extensions. These modifications allow the borrower short-term cash relief to allow them to improve their financial condition. If a loan modification is determined to be made to a borrower experiencing financial difficulty, the loan is considered collateral dependent and evaluated as part of the ACL as described above in the Allowance for Credit Losses section of this note.

For the three months ended June 30, 2026, the Company had no new modifications on loans made to a borrower experiencing financial difficulty. For the six months ended June 30, 2026, the Company had three modifications on residential real estate loans made to borrowers experiencing financial difficulty with a total pre-modification loan balance of $534 thousand and a total post-modification loan balance of $538 thousand. For the three months ended June 30, 2025, the Company had one new modification on a residential real estate loan made to a borrower experiencing financial difficulty with a total pre-modification loan balance of $131 thousand and a total post-modification loan balance of $133 thousand. For the six months ended June 30, 2025, the Company had two modifications on residential real estate loans made to borrowers experiencing financial difficulty with a total pre-modification loan balance of $356 thousand and a total post-modification loan balance of $358 thousand.

The Company had no commitments to lend to borrowers experiencing financial difficulty for which the Company has modified an existing loan as of June 30, 2026 and 2025. The Company monitors loan payments on an on-going basis to determine if a loan is considered to have a payment default. Determination of payment default involves analyzing the economic conditions that exist for each customer and their ability to generate positive cash flows during the loan term. For the three and six months ended June 30, 2026 and 2025, the Company had no loan modifications made to borrowers experiencing financial difficulty for which there was a payment default within the 12 months following the modification date.