v3.26.1
LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans A summary of loans at June 30, 2026, and December 31, 2025, follows:
June 30, 2026
December 31, 2025
Amortized Cost% of TotalAmortized Cost% of Total
Commercial/Agricultural real estate:
Commercial real estate$729,330 52.7 %$681,646 50.9 %
Agricultural real estate71,293 5.2 %69,042 5.1 %
Multi-family real estate253,072 18.3 %245,491 18.3 %
Construction and land development55,850 4.0 %75,399 5.6 %
C&I/Agricultural operating:
Commercial and industrial117,018 8.5 %105,756 7.9 %
Agricultural operating29,424 2.1 %33,364 2.5 %
Residential mortgage:
Residential mortgage116,757 8.5 %121,666 9.1 %
Purchased HELOC loans1,405 0.1 %1,739 0.1 %
Consumer installment:
Originated indirect paper1,559 0.1 %2,225 0.2 %
Other consumer7,267 0.5 %3,997 0.3 %
Total loans receivable$1,382,975 100 %$1,340,325 100 %
Less: Allowance for credit losses(25,899)(22,401)
Net loans receivable$1,357,076 $1,317,924 
Schedule of Financing Receivable Credit Quality Indicators
Below is a summary of the amortized cost of loans summarized by class, credit quality risk rating and year of origination as of June 30, 2026, and gross charge-offs for the six months ended June 30, 2026:



Amortized Cost Basis by Origination Year
20262025202420232022PriorRevolvingRevolving to TermTotal
Commercial/Agricultural real estate:
Commercial real estate
Risk rating 1 to 5$63,443 $90,568 $46,772 $67,579 $94,314 $324,116 $12,370 $— $699,162 
Risk rating 6— — 772 1,346 — 8,048 25 — 10,191 
Risk rating 72,686 3,185 152 1,179 4,894 7,881 — — 19,977 
Total$66,129 $93,753 $47,696 $70,104 $99,208 $340,045 $12,395 $— $729,330 
Current period gross charge-offs$— $— $47 $89 $438 $— $17 $— $591 
Agricultural real estate
Risk rating 1 to 5$9,951 $16,973 $2,038 $3,995 $14,714 $19,711 $677 $— $68,059 
Risk rating 6— 773 — — — 207 — — 980 
Risk rating 7— — — 1,984 — 270 — — 2,254 
Total$9,951 $17,746 $2,038 $5,979 $14,714 $20,188 $677 $— $71,293 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Multi-family real estate
Risk rating 1 to 5$11,589 $27,470 $6,615 $20,145 $53,557 $122,138 $446 $— $241,960 
Risk rating 6— — — 2,142 — — — — 2,142 
Risk rating 7— — — — — 8,970 — — 8,970 
Total$11,589 $27,470 $6,615 $22,287 $53,557 $131,108 $446 $— $253,072 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Construction and land development
Risk rating 1 to 5$8,432 $33,512 $6,560 $2,032 $3,397 $1,270 $647 $— $55,850 
Risk rating 6— — — — — — — — — 
Risk rating 7— — — — — — — — — 
Total$8,432 $33,512 $6,560 $2,032 $3,397 $1,270 $647 $— $55,850 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial/Agricultural operating:
Commercial and industrial
Risk rating 1 to 5$25,115 $12,326 $12,354 $5,540 $14,204 $12,925 $27,720 $— $110,184 
Risk rating 6380 870 197 1,189 2,159 233 350 — 5,378 
Risk rating 7— — 489 285 — 301 381 — 1,456 
Total$25,495 $13,196 $13,040 $7,014 $16,363 $13,459 $28,451 $— $117,018 
Current period gross charge-offs$— $— $— $48 $984 $— $— $— $1,032 
Agricultural operating
Risk rating 1 to 5$3,654 $2,902 $787 $2,153 $2,042 $1,073 $15,675 $— $28,286 
Risk rating 6— 428 39 21 — — 650 — 1,138 
Risk rating 7— — — — — — — — — 
Total$3,654 $3,330 $826 $2,174 $2,042 $1,073 $16,325 $— $29,424 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
ContinuedAmortized Cost Basis by Origination Year
20262025202420232022PriorRevolvingRevolving to TermTotal
Residential mortgage:
Residential mortgage
Risk rating 1 to 5$2,970 $8,769 $6,607 $20,984 $26,797 $30,776 $17,715 $— $114,618 
Risk rating 7— — 95 — — 1,944 100 — 2,139 
Total$2,970 $8,769 $6,702 $20,984 $26,797 $32,720 $17,815 $— $116,757 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Purchased HELOC loans
Risk rating 1 to 5$— $— $— $— $— $— $1,288 $— $1,288 
Risk rating 7— — — — — — 117 — 117 
Total$— $— $— $— $— $— $1,405 $— $1,405 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Consumer installment:
Originated indirect paper
Risk rating 1 to 5$— $— $— $— $— $1,535 $— $— $1,535 
Risk rating 7— — — — — 24 — — 24 
Total$— $— $— $— $— $1,559 $— $— $1,559 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Other consumer
Risk rating 1 to 5$4,455 $945 $555 $481 $177 $200 $408 $— $7,221 
Risk rating 7— 23 18 — 5 — — — 46 
Total$4,455 $968 $573 $481 $182 $200 $408 $— $7,267 
Current period gross charge-offs$— $— $— $— $— $— $1 $— $1 
Total loans receivable$132,675 $198,744 $84,050 $131,055 $216,260 $541,622 $78,569 $— $1,382,975 
Total current period gross charge-offs$— $— $47 $137 $1,422 $— $18 $— $1,624 
Below is a summary of the amortized cost of loans summarized by class, credit quality risk rating and year of origination as of December 31, 2025, and gross charge-offs for the twelve months ended December 31, 2025:

Amortized Cost Basis by Origination Year
20252024202320222021PriorRevolvingRevolving to TermTotal
Commercial/Agricultural real estate:
Commercial real estate
Risk rating 1 to 5$74,334 $48,318 $70,001 $92,337 $180,767 $176,626 $10,920 $— $653,303 
Risk rating 6— 775 1,513 6,836 7,053 3,459 24 — 19,660 
Risk rating 7— 164 1,516 1,059 1,952 3,992 — — 8,683 
Total$74,334 $49,257 $73,030 $100,232 $189,772 $184,077 $10,944 $— $681,646 
Current period gross charge-offs$— $— $— $51 $— $— $— $— $51 
Agricultural real estate
Risk rating 1 to 5$18,677 $2,403 $6,052 $16,064 $9,234 $14,711 $518 $— $67,659 
Risk rating 6780 — — — — 139 — — 919 
Risk rating 7— — 192 — — 272 — — 464 
Total$19,457 $2,403 $6,244 $16,064 $9,234 $15,122 $518 $— $69,042 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Multi-family real estate
Risk rating 1 to 5$25,772 $6,688 $20,719 $55,742 $85,892 $41,297 $411 $— $236,521 
Risk rating 6— — — — — — — — — 
Risk rating 7— — — — 8,970 — — — 8,970 
Total$25,772 $6,688 $20,719 $55,742 $94,862 $41,297 $411 $— $245,491 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Construction and land development
Risk rating 1 to 5$44,202 $7,722 $12,952 $8,949 $255 $1,084 $178 $— $75,342 
Risk rating 6— — — — — — 57 — 57 
Risk rating 7— — — — — — — — — 
Total$44,202 $7,722 $12,952 $8,949 $255 $1,084 $235 $— $75,399 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial/Agricultural operating:
Commercial and industrial
Risk rating 1 to 5$14,210 $15,418 $7,815 $18,357 $7,781 $8,097 $24,870 $— $96,548 
Risk rating 6219 223 1,458 3,268 487 122 899 — 6,676 
Risk rating 7— 612 274 734 360 — 552 — 2,532 
Total$14,429 $16,253 $9,547 $22,359 $8,628 $8,219 $26,321 $— $105,756 
Current period gross charge-offs$— $— $36 $23 $— $— $35 $— $94 
Agricultural operating
Risk rating 1 to 5$4,880 $1,056 $2,355 $2,155 $279 $898 $21,602 $— $33,225 
Risk rating 6— — — — — — 139 — 139 
Risk rating 7— — — — — — — — — 
Total$4,880 $1,056 $2,355 $2,155 $279 $898 $21,741 $— $33,364 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
ContinuedAmortized Cost Basis by Origination Year
20252024202320222021PriorRevolvingRevolving to TermTotal
Residential mortgage:
Residential mortgage
Risk rating 1 to 5$11,089 $7,971 $23,556 $27,863 $6,666 $26,112 $16,334 $— 119,591 
Risk rating 7— — — — 133 1,842 100 — 2,075 
Total$11,089 $7,971 $23,556 $27,863 $6,799 $27,954 $16,434 $— $121,666 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Purchased HELOC loans
Risk rating 1 to 5$— $— $— $— $— $— $1,622 $— $1,622 
Risk rating 7— — — — — — 117 — 117 
Total$— $— $— $— $— $— $1,739 $— $1,739 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Consumer installment:
Originated indirect paper
Risk rating 1 to 5$— $— $— $— $— $2,197 $— $— $2,197 
Risk rating 7— — — — — 28 — — 28 
Total$— $— $— $— $— $2,225 $— $— $2,225 
Current period gross charge-offs$— $— $— $— $— $2 $— $— $2 
Other consumer
Risk rating 1 to 5$1,347 $784 $658 $395 $174 $109 $528 $— $3,995 
Risk rating 7— 1 — — — — 1 — 2 
Total$1,347 $785 $658 $395 $174 $109 $529 $— $3,997 
Current period gross charge-offs$— $5 $10 $— $— $1 $4 $— $20 
Total loans receivable$195,510 $92,135 $149,061 $233,759 $310,003 $280,985 $78,872 $— $1,340,325 
Total current period gross charge-offs$— $5 $46 $74 $— $3 $39 $— $167 
Schedule of Allowance for Credit Losses
The following tables present the balance and activity in the allowance for credit losses (“ACL”) - loans by portfolio segment for the three and six months ended June 30, 2026:

Commercial/Agricultural Real EstateC&I/Agricultural operatingResidential MortgageConsumer InstallmentTotal
Three months ended June 30, 2026
Allowance for Credit Losses - Loans:
ACL - Loans, at beginning of period$18,251 $2,626 $1,939 $150 $22,966 
Charge-offs(574)(849)— — (1,423)
Recoveries— 2 — 4 6 
Additions to ACL - Loans via provision for credit losses charged to operations3,744 493 108 5 4,350 
ACL - Loans, at end of period$21,421 $2,272 $2,047 $159 $25,899 
Commercial/Agricultural Real EstateC&I/Agricultural operatingResidential MortgageConsumer InstallmentTotal
Six months ended June 30, 2026
Allowance for Credit Losses - Loans:
ACL - Loans, at beginning of period$17,654 $2,358 $2,230 $159 $22,401 
Charge-offs(591)(1,032)— (1)(1,624)
Recoveries— 2 5 7 14 
Additions/(reversals) to ACL - Loans via provision for credit losses charged to operations4,358 944 (188)(6)5,108 
ACL - Loans, at end of period$21,421 $2,272 $2,047 $159 $25,899 

The following tables present the balance and activity in the allowance for credit losses (“ACL”) - loans by portfolio segment for the three and six months ended June 30, 2025, and the twelve months ended December 31, 2025:
Commercial/Agricultural Real EstateC&I/Agricultural operatingResidential MortgageConsumer InstallmentTotal
Three months ended June 30, 2025
Allowance for Credit Losses - Loans:
ACL - Loans, at beginning of period$16,244 $1,430 $2,338 $193 $20,205 
Charge-offs— (67)— (7)(74)
Recoveries52 1 — 5 58 
Additions/(reversals) to ACL - Loans via provision for credit losses charged to operations868 294 9 (13)1,158 
ACL - Loans, at end of period$17,164 $1,658 $2,347 $178 $21,347 
Commercial/Agricultural Real EstateC&I/Agricultural operatingResidential MortgageConsumer InstallmentTotal
Six months ended June 30, 2025
Allowance for Credit Losses - Loans:
ACL - Loans, at beginning of period$16,516 $1,330 $2,489 $214 $20,549 
Charge-offs(51)(87)— (18)(156)
Recoveries92 46 1 8 147 
Additions/(reversals) to ACL - Loans via provision for credit losses charged to operations607 369 (143)(26)807 
ACL - Loans, at end of period$17,164 $1,658 $2,347 $178 $21,347 
Commercial/Agricultural Real EstateC&I/Agricultural operatingResidential MortgageConsumer InstallmentTotal
Twelve months ended December 31, 2025
Allowance for Credit Losses - Loans:
ACL - Loans, at beginning of period$16,516 $1,330 $2,489 $214 $20,549 
Charge-offs(51)(94)— (22)(167)
Recoveries92 51 53 29 225 
Additions/(reversals) to ACL - Loans via provision for credit losses charged to operations1,097 1,071 (312)(62)1,794 
ACL - Loans, at end of period$17,654 $2,358 $2,230 $159 $22,401 
The following table presents the balance and activity in the ACL - Unfunded Commitments for the three and six months ended June 30, 2026 and June 30, 2025.
June 30, 2026 and Three Months EndedJune 30, 2025 and Three Months EndedJune 30, 2026 and Six Months EndedJune 30, 2025 and Six Months Ended
ACL - Unfunded Commitments - beginning of period$482 $435 $490 $334 
(Reversals)/additions to ACL - Unfunded Commitments via provision for credit losses charged to operations(25)192 (33)293 
ACL - Unfunded Commitments - End of period$457 $627 $457 $627 
Schedule of Provision for Credit Losses The following table presents the components of the provision for credit losses.
June 30, 2026 and Three Months EndedJune 30, 2025 and Three Months EndedJune. 30, 2026 and Six Months EndedJune. 30, 2025 and Six Months Ended
Provision for credit losses on:
Loans $4,350 $1,158 $5,108 $807 
Unfunded Commitments(25)192 (33)293 
Total provision for credit losses$4,325 $1,350 $5,075 $1,100 
Schedule of Aging Analysis of the Bank Real Estate and Consumer Loans
An aging analysis of the Company’s commercial/agricultural real estate, C&I, agricultural operating, residential mortgage, consumer installment and purchased third party loans as of June 30, 2026, and December 31, 2025, respectively, was as follows:
(Loan balances at amortized cost)30-59 Days Past Due60-89 Days Past DueGreater Than 89 Days Past DueTotal
Past Due		CurrentTotal
Loans
June 30, 2026
Commercial/Agricultural real estate:
Commercial real estate$245 $5,637 $8,946 $14,828 $714,502 $729,330 
Agricultural real estate— — — — 71,293 71,293 
Multi-family real estate— — 8,970 8,970 244,102 253,072 
Construction and land development— — — — 55,850 55,850 
C&I/Agricultural operating:
Commercial and industrial— — 463 463 116,555 117,018 
Agricultural operating— — — — 29,424 29,424 
Residential mortgage:
Residential mortgage1,669 284 61 2,014 114,743 116,757 
Purchased HELOC loans117 — — 117 1,288 1,405 
Consumer installment:
Originated indirect paper— — — — 1,559 1,559 
Other consumer62 15 — 77 7,190 7,267 
Total $2,093 $5,936 $18,440 $26,469 $1,356,506 $1,382,975 
(Loan balances at amortized cost)30-59 Days Past Due60-89 Days Past DueGreater Than 89 Days Past DueTotal
Past Due		CurrentTotal
Loans
December 31, 2025
Commercial/Agricultural real estate:
Commercial real estate$471 $572 $467 $1,510 $680,136 $681,646 
Agricultural real estate192 — — 192 68,850 69,042 
Multi-family real estate— — 8,970 8,970 236,521 245,491 
Construction and land development57 — — 57 75,342 75,399 
C&I/Agricultural operating:
Commercial and industrial665 — 1,143 1,808 103,948 105,756 
Agricultural operating— — — — 33,364 33,364 
Residential mortgage:
Residential mortgage1,419 132 44 1,595 120,071 121,666 
Purchased HELOC loans117 — — 117 1,622 1,739 
Consumer installment:
Originated indirect paper— — — — 2,225 2,225 
Other consumer29 2 1 32 3,965 3,997 
Total $2,950 $706 $10,625 $14,281 $1,326,044 $1,340,325 
Schedule of Nonaccrual Loans The following tables present the amortized cost basis of loans on nonaccrual status, of nonaccrual loans individually evaluated and of loans past due over 89 days and still accruing at June 30, 2026 and December 31, 2025, with no allowance for credit losses:
June 30, 2026Total Nonaccrual LoansNonaccrual with no Allowance for Credit LossesLoans Past Due over 89 Days Still Accruing
Commercial/Agricultural real estate:
Commercial real estate$18,676 $9,733 $— 
Agricultural real estate2,254 270 — 
Multi-family real estate8,970 — — 
C&I/Agricultural operating:
Commercial and industrial1,221 728 — 
Residential mortgage:
Residential mortgage323 323 18 
Purchased HELOC loans117 117 — 
Consumer installment:
Other consumer— — — 
Total $31,561 $11,171 $18 


December 31, 2025Total Nonaccrual LoansNonaccrual with no Allowance for Credit LossesLoans Past Due over 89 Days Still Accruing
Commercial/Agricultural real estate:
Commercial real estate$4,652 $4,454 $— 
Agricultural real estate464 272 — 
Construction and land development8,970 — — 
C&I/Agricultural operating:
Commercial and industrial1,282 921 — 
Residential mortgage:
Residential mortgage368 368 — 
Purchased HELOC loans117 117 — 
Consumer installment:
Originated indirect paper— — 1 
Total $15,853 $6,132 $1 
Schedule of Collateral Dependent Loans by Portfolio Segment The following tables present the amortized cost basis of collateral dependent loans by portfolio segment and collateral type that were individually evaluated to determine expected credit losses and the related allowance for credit losses as of June 30, 2026, and December 31, 2025.
Collateral Type
June 30, 2026Real EstateOther AssetsTotal
Commercial/Agricultural real estate:
Commercial real estate$19,977 $— $19,977 
Agricultural real estate2,254 — 2,254 
Multi-family real estate8,970 — 8,970 
C&I/Agricultural operating:
Commercial and industrial— 1,456 1,456 
Agricultural operating— — — 
Residential mortgage:
Residential mortgage2,181 — 2,181 
Consumer installment:
Originated indirect paper— 24 24 
Other consumer— 46 46 
Total $33,382 $1,526 $34,908 

Collateral Type
December 31, 2025Real EstateOther AssetsTotal
Commercial/Agricultural real estate:
Commercial real estate$8,808 $— $8,808 
Agricultural real estate464 — 464 
Construction and land development8,970 — 8,970 
C&I/Agricultural operating:
Commercial and industrial— 3,176 3,176 
Agricultural operating— — — 
Residential mortgage:
Residential mortgage2,077 — 2,077 
Consumer installment:
Originated indirect paper— 28 28 
Other consumer— 2 2 
Total $20,319 $3,206 $23,525 
Schedule of Loan Modifications
The tables below detail Loan Modifications made to Borrowers Experiencing Financial Difficulty during the twelve months ended June 30, 2026:
Term Extension
Loan ClassAmortized Cost Basis at June 30, 2026% of Total Class of Financing Receivables
Commercial and industrial$28 0.02 %
Other-Than-Insignificant Payment Delay
Loan ClassAmortized Cost Basis at June 30, 2026% of Total Class of Financing Receivables
Agricultural real estate$1,984 2.78 %
Residential mortgage$120 0.10 %

The following tables describe the financial effect of the loan modifications made to borrowers experiencing financial difficulty during the twelve months ended June 30, 2026:
Term Extension
Loan ClassFinancial Effect
Commercial and industrial
A weighted average of 3 months was added to the term of the loans
Other-Than-Insignificant Payment Delay
Loan ClassFinancial Effect
Agricultural real estate
Payments were deferred a weighted average of 6 months
Residential mortgage
Payments were deferred a weighted average of 3 months
The tables below detail Loan Modifications Made to Borrowers Experiencing Financial Difficulty during the three months ended June 30, 2025:
Term Extension
Loan ClassAmortized Cost Basis at June 30, 2025% of Total Class of Financing Receivables
Commercial real estate$164 0.02 %
Other-Than-Insignificant Payment Delay
Loan ClassAmortized Cost Basis at June 30, 2025% of Total Class of Financing Receivables
Commercial real estate$4,263 0.62 %
Agricultural real estate$200 0.29 %
The following tables describe the financial effect of the loan modifications made to borrowers experiencing financial difficulty during the three months ended June 30, 2025:
Term Extension
Loan ClassFinancial Effect
Commercial real estate
A weighted average of 2 months was added to the term of the loans
Other-Than-Insignificant Payment Delay
Loan ClassFinancial Effect
Commercial real estate
Payments were deferred a weighted average of 3 months
Agricultural real estate
Payments were deferred a weighted average of 9 months
The tables below detail Loan Modifications Made to Borrowers Experiencing Financial Difficulty during the twelve months ended June 30, 2025:
Term Extension
Loan ClassAmortized Cost Basis at June 30, 2025% of Total Class of Financing Receivables
Commercial real estate$164 0.02 %
Commercial and industrial$661 0.61 %
Agricultural operating$171 0.54 %
Residential mortgage$17 0.01 %
Other-Than-Insignificant Payment Delay
Loan ClassAmortized Cost Basis at June 30, 2025% of Total Class of Financing Receivables
Commercial real estate$5,738 0.83 %
Agricultural real estate$200 0.29 %
Residential mortgage$120 0.10 %
Term Extension and Principal Forgiveness
Loan ClassAmortized Cost Basis at June 30, 2025% of Total Class of Financing Receivables
Other consumer$2 — %
The following tables describe the financial effect of the loan modifications made to borrowers experiencing financial difficulty during the twelve months ended June 30, 2025:
Term Extension
Loan ClassFinancial Effect
Commercial real estate
A weighted average of 2 months was added to the term of the loans
Commercial and industrial
A weighted average of 13 months was added to the term of the loans
Agricultural operating
A weighted average of 8 months was added to the term of the loans
Residential mortgage
A weighted average of 55 months was added to the term of the loans
Other-Than-Insignificant Payment Delay
Loan ClassFinancial Effect
Commercial real estate
Payments were deferred a weighted average of 3 months
Agricultural real estate
Payments were deferred a weighted average of 9 months
Residential mortgage
Payments were deferred a weighted average of 3 months
Term Extension and Principal Forgiveness
Loan ClassFinancial Effect
Other consumer
A weighted average of 3 months was added to the term of the loan and a principal balance of $2 was forgiven
Schedule of Modified Financing Receivables, Aging after Twelve Months
The following table shows the performance of such loans that have been modified during the twelve months ended June 30, 2026.
Current30-59 Days Past Due60-89 Days Past DueGreater Than 89 Days Past Due
Agricultural real estate$1,984 $— $— $— 
Commercial and industrial— — — 28 
Residential mortgage— 120 — — 
Total$1,984 $120 $— $28 

The following table shows the performance of such loans that have been modified during the twelve months ended June 30, 2025.
Current30-59 Days Past Due60-89 Days Past DueGreater Than 89 Days Past Due
Commercial real estate$5,902 $— $— $— 
Agricultural real estate200 — — — 
Commercial and industrial661 — — — 
Agricultural operating171 — — — 
Residential mortgage17 120 — — 
Other consumer2 — — — 
Total$6,953 $120 $— $—