Loans and Allowance for Credit Losses (Tables)

6 Months Ended

Jun. 30, 2026

The various categories of loans are summarized as follows:


	June 30,		December 31,
(In thousands)	2026		2025
Consumer:
Credit cards	$	174,148	$	175,760
Other consumer	99,117		115,472
Total consumer	273,265		291,232
Real Estate:
Construction and development	2,577,630		2,873,807
Single family residential	2,564,282		2,607,450
Other commercial	8,828,771		8,289,968
Total real estate	13,970,683		13,771,225
Commercial:
Commercial	2,516,607		2,382,339
Agricultural	426,522		306,300
Total commercial	2,943,129		2,688,639
Other	875,292		741,083
Total loans	$	18,062,369	$	17,492,179

Schedule of Nonaccrual Loans, Excluding Loans Acquired

The amortized cost basis of nonaccrual loans segregated by class of loans are as follows:


	June 30,		December 31,
(In thousands)	2026		2025
Consumer:
Credit cards	$	499	$	568
Other consumer	196		386
Total consumer	695		954
Real estate:
Construction and development	55,536		17,516
Single family residential	43,534		33,345
Other commercial	46,033		45,417
Total real estate	145,103		96,278
Commercial:
Commercial	19,172		13,458
Agricultural	325		1,098
Total commercial	19,497		14,556
Other	—		3
Total	$	165,295	$	111,791

Schedule of Aging Analysis of Past Due Loans, Excluding Loans Acquired

An age analysis of the amortized cost basis of past due loans, including nonaccrual loans, segregated by class of loans is as follows:


(In thousands)	Gross 30-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total Loans		90 Days Past Due & Accruing
June 30, 2026
Consumer:
Credit cards	$	2,973	$	701	$	3,674	$	170,474	$	174,148	$	610
Other consumer	655		121		776		98,341		99,117		—
Total consumer	3,628		822		4,450		268,815		273,265		610
Real estate:
Construction and development	106		54,747		54,853		2,522,777		2,577,630		—
Single family residential	17,133		22,083		39,216		2,525,066		2,564,282		—
Other commercial	36,510		44,429		80,939		8,747,832		8,828,771		143
Total real estate	53,749		121,259		175,008		13,795,675		13,970,683		143
Commercial:
Commercial	2,989		12,563		15,552		2,501,055		2,516,607		—
Agricultural	34		292		326		426,196		426,522		—
Total commercial	3,023		12,855		15,878		2,927,251		2,943,129		—
Other	588		—		588		874,704		875,292		—
Total	$	60,988	$	134,936	$	195,924	$	17,866,445	$	18,062,369	$	753

December 31, 2025
Consumer:
Credit cards	$	2,414	$	751	$	3,165	$	172,595	$	175,760	$	697
Other consumer	1,073		166		1,239		114,233		115,472		—
Total consumer	3,487		917		4,404		286,828		291,232		697
Real estate:
Construction and development	13,344		17,418		30,762		2,843,045		2,873,807		—
Single family residential	34,731		15,690		50,421		2,557,029		2,607,450		—
Other commercial	10,879		38,047		48,926		8,241,042		8,289,968		148
Total real estate	58,954		71,155		130,109		13,641,116		13,771,225		148
Commercial:
Commercial	2,755		10,672		13,427		2,368,912		2,382,339		103
Agricultural	14		598		612		305,688		306,300		—
Total commercial	2,769		11,270		14,039		2,674,600		2,688,639		103
Other	—		3		3		741,080		741,083		—
Total	$	65,210	$	83,345	$	148,555	$	17,343,624	$	17,492,179	$	948

Schedule of Amortized Cost Basis of Loan Modifications Granted

The following table presents a summary of the amortized cost basis of loan modifications granted to borrowers experiencing financial difficulty, segregated by class of loans and type of loan modification, for the three and six month periods ended June 30, 2026.


			Percent of				Percent of
	Interest Rate		Total Class				Total Class
(Dollars in thousands)	Reduction		of Loans		Term Extension		of Loans
Three Months Ended June 30, 2026



Real estate:
Single family residential	$	58	—	%	$	—	—	%
Total real estate	58				—
Total	$	58			$	—

Six Months Ended June 30, 2026
Consumer:
Other consumer	$	4	—	%	$	7	0.01	%
Total consumer	4				7
Real estate:
Single family residential	220		0.01	%	—		—	%
Other commercial	2,355		0.03	%	—		—	%
Total real estate	2,575				—
Total	$	2,579			$	7


			Percent of
	Interest Rate		Total Class
(Dollars in thousands)	Reduction		of Loans
Three Months Ended June 30, 2025
Real estate:
Single family residential	$	82	—	%
Total real estate	$	82

Six Months Ended June 30, 2025
Real estate:
Single family residential	$	528	0.02	%
Total real estate	$	528

Schedule of Loans by Credit Risk Rating

The following table presents a summary of loans by credit quality indicator, as of June 30, 2026, segregated by class of loans.


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2026 (YTD)		2025		2024		2023		2022		2021 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Consumer - credit cards
Delinquency:
Current	$	—	$	—	$	—	$	—	$	—	$	—	$	170,474	$	—	$	170,474
30-89 days past due	—		—		—		—		—		—		2,973		—		2,973
90+ days past due	—		—		—		—		—		—		701		—		701
Total consumer - credit cards	—		—		—		—		—		—		174,148		—		174,148
Current-period consumer - credit cards gross charge-offs	—		—		—		—		—		—		3,045		—		3,045
Consumer - other
Delinquency:
Current	29,346		20,676		9,036		4,209		4,193		1,965		28,916		—		98,341
30-89 days past due	32		202		115		39		186		46		35		—		655
90+ days past due	21		16		30		26		10		18		—		—		121
Total consumer - other	29,399		20,894		9,181		4,274		4,389		2,029		28,951		—		99,117
Current-period consumer - other gross charge-offs	—		318		181		67		168		28		54		—		816
Real estate - C&D
Risk rating:
Pass	45,235		138,777		20,424		50,168		31,281		35,976		2,195,981		—		2,517,842
Special mention	—		—		—		—		—		—		1,481		—		1,481
Substandard	—		—		50		41		3,567		43		54,606		—		58,307
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - C&D	45,235		138,777		20,474		50,209		34,848		36,019		2,252,068		—		2,577,630
Current-period real estate - C&D gross charge-offs	—		—		—		525		—		308		—		—		833
Real estate - SF residential
Delinquency:
Current	137,934		211,094		159,357		235,367		442,151		742,847		596,316		—		2,525,066
30-89 days past due	246		588		1,939		1,948		2,152		8,267		1,993		—		17,133
90+ days past due	214		4,119		3,347		1,319		5,816		5,568		1,700		—		22,083
Total real estate - SF residential	138,394		215,801		164,643		238,634		450,119		756,682		600,009		—		2,564,282
Current-period real estate - SF residential gross charge-offs	—		837		479		366		138		24		141		—		1,985


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2026 (YTD)		2025		2024		2023		2022		2021 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Real estate - other commercial
Risk rating:
Pass	$	787,380	$	1,368,241	$	459,746	$	346,954	$	1,055,934	$	1,389,822	$	3,081,081	$	—	$	8,489,158
Special mention	—		14,102		11,270		800		17,705		8,074		70,355		—		122,306
Substandard	—		8,374		3,973		10,071		18,909		52,847		123,133		—		217,307
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - other commercial	787,380		1,390,717		474,989		357,825		1,092,548		1,450,743		3,274,569		—		8,828,771
Current-period real estate - other commercial gross charge-offs	—		—		2,109		1,987		1,187		3,693		300		—		9,276
Commercial
Risk rating:
Pass	274,114		264,901		144,761		111,328		121,110		81,365		1,440,045		—		2,437,624
Special mention	—		—		308		505		1,612		856		34,573		—		37,854
Substandard	22		1,975		2,179		3,610		2,013		4,929		26,401		—		41,129
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial	274,136		266,876		147,248		115,443		124,735		87,150		1,501,019		—		2,516,607
Current-period commercial - gross charge-offs	16		582		790		199		103		1,013		1,695		—		4,398
Commercial - agriculture
Risk rating:
Pass	57,163		33,797		11,921		9,258		7,195		3,326		302,685		—		425,345
Special mention	—		254		—		—		42		—		43		—		339
Substandard	—		—		7		90		44		104		593		—		838
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial - agriculture	57,163		34,051		11,928		9,348		7,281		3,430		303,321		—		426,522
Current-period commercial - agriculture gross charge-offs	—		491		7		—		21		—		269		—		788
Other
Delinquency:
Current	29,902		97,486		59,963		23,280		124,018		47,926		492,129		—		874,704
30-89 days past due	—		—		588		—		—		—		—		—		588
90+ days past due	—		—		—		—		—		—		—		—		—
Total other	29,902		97,486		60,551		23,280		124,018		47,926		492,129		—		875,292
Current-period other - gross charge-offs	—		—		—		—		—		—		124		—		124
Total	$	1,361,609	$	2,164,602	$	889,014	$	799,013	$	1,837,938	$	2,383,979	$	8,626,214	$	—	$	18,062,369

The following table presents a summary of loans by credit quality indicator, as of December 31, 2025, segregated by class of loans.


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2025		2024		2023		2022		2021		2020 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Consumer - credit cards
Delinquency:
Current	$	—	$	—	$	—	$	—	$	—	$	—	$	172,595	$	—	$	172,595
30-89 days past due	—		—		—		—		—		—		2,414		—		2,414
90+ days past due	—		—		—		—		—		—		751		—		751
Total consumer - credit cards	—		—		—		—		—		—		175,760		—		175,760
Current-period consumer - credit cards gross charge-offs	—		—		—		—		—		—		6,370		—		6,370
Consumer - other
Delinquency:
Current	61,242		14,933		7,889		6,942		2,029		864		20,334		—		114,233
30-89 days past due	315		344		97		244		39		—		34		—		1,073
90+ days past due	31		55		34		39		3		—		4		—		166
Total consumer - other	61,588		15,332		8,020		7,225		2,071		864		20,372		—		115,472
Current-period consumer - other gross charge-offs	166		933		387		679		64		36		129		—		2,394
Real estate - C&D
Risk rating:
Pass	143,444		32,104		81,866		35,266		22,861		22,127		2,477,812		—		2,815,480
Special mention	—		—		—		—		—		—		3,281		—		3,281
Substandard	—		—		46		3,578		12		39		51,371		—		55,046
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - C&D	143,444		32,104		81,912		38,844		22,873		22,166		2,532,464		—		2,873,807
Current-period real estate - C&D gross charge-offs	—		303		—		—		4		21		14		—		342
Real estate - SF residential
Delinquency:
Current	240,137		180,340		264,324		475,155		254,727		578,426		563,920		—		2,557,029
30-89 days past due	2,013		2,087		3,187		8,148		2,080		14,425		2,791		—		34,731
90+ days past due	54		445		2,804		4,983		180		5,024		2,200		—		15,690
Total real estate - SF residential	242,204		182,872		270,315		488,286		256,987		597,875		568,911		—		2,607,450
Current-period real estate - SF residential gross charge-offs	—		309		281		122		47		217		269		—		1,245
Real estate - other commercial
Risk rating:
Pass	1,417,580		514,130		400,008		1,129,929		864,043		797,780		2,730,301		—		7,853,771
Special mention	—		5,123		2,003		27,132		2,126		5,531		127,576		—		169,491
Substandard	4,601		3,600		16,313		20,158		21,763		33,061		167,210		—		266,706
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total real estate - other commercial	1,422,181		522,853		418,324		1,177,219		887,932		836,372		3,025,087		—		8,289,968
Current-period real estate - other commercial gross charge-offs	192		5,940		26		293		102		1,215		23,720		—		31,488


	Term Loans Amortized Cost Basis by Origination Year
(In thousands)	2025		2024		2023		2022		2021		2020 and Prior		Lines of Credit (“LOC”) Amortized Cost Basis		LOC Converted to Term Loans Amortized Cost Basis		Total
Commercial
Risk rating:
Pass	$	348,879	$	164,847	$	142,008	$	155,170	$	69,768	$	37,007	$	1,390,040	$	—	$	2,307,719
Special mention	—		131		600		1,276		174		720		40,752		—		43,653
Substandard	3,380		6,054		2,771		1,696		1,598		4,524		10,941		—		30,964
Doubtful and loss	—		—		—		3		—		—		—		—		3
Total commercial	352,259		171,032		145,379		158,145		71,540		42,251		1,441,733		—		2,382,339
Current-period commercial - gross charge-offs	277		8,849		1,622		5,058		937		9,230		16,229		—		42,202
Commercial - agriculture
Risk rating:
Pass	47,211		16,056		14,185		10,101		3,519		1,793		211,605		—		304,470
Special mention	419		14		—		68		—		—		48		—		549
Substandard	—		20		99		24		8		120		1,010		—		1,281
Doubtful and loss	—		—		—		—		—		—		—		—		—
Total commercial - agriculture	47,630		16,090		14,284		10,193		3,527		1,913		212,663		—		306,300
Current-period commercial - agriculture gross charge-offs	—		6		11		—		—		13		351		—		381
Other
Delinquency:
Current	100,774		62,625		26,085		126,263		25,475		25,607		374,251		—		741,080
30-89 days past due	—		—		—		—		—		—		—		—		—
90+ days past due	—		—		—		—		—		3		—		—		3
Total other	100,774		62,625		26,085		126,263		25,475		25,610		374,251		—		741,083
Current-period other - gross charge-offs	—		—		—		—		—		—		240		—		240
Total	$	2,370,080	$	1,002,908	$	964,319	$	2,006,175	$	1,270,405	$	1,527,051	$	8,351,241	$	—	$	17,492,179

Schedule of the Activity in the Allowance for Loan Losses

The collateral securing these loans consist of commercial real estate properties, residential properties, and other business assets.


(In thousands)	Real Estate Collateral		Other Collateral		Total
June 30, 2026
Construction and development	$	44,025	$	—	$	44,025
Single family residential	—		—		—
Other commercial real estate	60,936		—		60,936
Commercial	—		1,796		1,796
Total	$	104,961	$	1,796	$	106,757

December 31, 2025
Construction and development	$	44,114	$	—	$	44,114
Single family residential	—		—		—
Other commercial real estate	66,266		—		66,266
Commercial	—		1,994		1,994
Total	$	110,380	$	1,994	$	112,374

The following table details activity in the allowance for credit losses by portfolio segment for the three and six months ended June 30, 2026. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Allowance for credit losses:
Three Months Ended June 30, 2026
Beginning balance, April 1, 2026	$	29,825	$	188,166	$	5,706	$	6,211	$	229,908
Provision for credit loss expense	3,526		12,889		943		76		17,434
Charge-offs	(3,520)		(5,465)		(1,368)		(350)		(10,703)
Recoveries	812		151		244		381		1,588
Net (charge-offs) recoveries	(2,708)		(5,314)		(1,124)		31		(9,115)
Ending balance, June 30, 2026	$	30,643	$	195,741	$	5,525	$	6,318	$	238,227


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Six Months Ended June 30, 2026
Beginning balance, January 1, 2026	$	27,998	$	183,677	$	5,991	$	6,711	$	224,377
Provision for credit loss expense	6,766		23,558		1,867		(135)		32,056
Charge-offs	(5,186)		(12,094)		(3,045)		(940)		(21,265)
Recoveries	1,065		600		712		682		3,059
Net (charge-offs) recoveries	(4,121)		(11,494)		(2,333)		(258)		(18,206)
Ending balance, June 30, 2026	$	30,643	$	195,741	$	5,525	$	6,318	$	238,227

Activity in the allowance for credit losses for the three and six months ended June 30, 2025 was as follows:


(In thousands)	Commercial		Real Estate		Credit Card		Other Consumer and Other		Total
Allowance for credit losses:
Three Months Ended June 30, 2025
Beginning balance, April 1, 2025	$	39,913	$	200,079	$	6,117	$	6,059	$	252,168
Provision for credit loss expense	5,073		5,269		1,338		265		11,945
Charge-offs	(8,257)		(1,450)		(1,702)		(351)		(11,760)
Recoveries	469		87		334		294		1,184
Net (charge-offs) recoveries	(7,788)		(1,363)		(1,368)		(57)		(10,576)
Ending balance, June 30, 2025	$	37,198	$	203,985	$	6,087	$	6,267	$	253,537

Six Months Ended June 30, 2025
Beginning balance, January 1, 2025	$	41,587	$	181,962	$	6,007	$	5,463	$	235,019
Provision for credit loss expense	6,645		27,712		2,697		1,688		38,742
Charge-offs	(12,500)		(5,875)		(3,162)		(1,484)		(23,021)
Recoveries	1,466		186		545		600		2,797
Net (charge-offs) recoveries	(11,034)		(5,689)		(2,617)		(884)		(20,224)
Ending balance, June 30, 2025	$	37,198	$	203,985	$	6,087	$	6,267	$	253,537

The components of the provision for credit losses for the three and six month periods ended June 30, 2026 and 2025 were as follows:


	Three Months Ended June 30,				Six Months Ended June 30,
(In thousands)	2026		2025		2026		2025
Provision for credit losses related to:
Loans	$	17,434	$	11,945	$	32,056	$	38,742
Unfunded commitments	—		—		—		—
Securities - HTM	—		—		—		—
Securities - AFS	—		—		—		—
Total	$	17,434	$	11,945	$	32,056	$	38,742