v3.26.3
Allowance for Credit Losses
 9 Months Ended
Sep. 30, 2026
Receivables [Abstract]  
Allowance for Credit Losses Allowance for Credit Losses
The analyses by loan segment of the changes in the allowance for credit losses (“ACL”) for loans for the three and nine month periods ended September 30, 2026 and 2025 is summarized in the following tables:
Three Months Ended September 30, 2026
(in thousands)Real EstateCommercialFinancial
Institutions		Consumer
and Others		Total
Balance at beginning of the period
$
24,435 
$
37,859 
$
— 
$
23,205 
$
85,499 
(Reversal of) provision for credit losses - loans
(2,306)
14,164 
— 
(2,958)
8,900 
Initial ACL on acquired PSLs (1)
— 1,605 876 2,481 
Loans charged-off
— 
(3,097)
— 
(826)
(3,923)
Recoveries
15 
1,498 
— 
375 
1,888 
Balance at end of the period
$
22,144 
$
52,029 
$
— 
$
20,672 
$
94,845 
_________________
(1)The ACL relates to residential and commercial loans purchased with an aggregate principal balance of $190.6 million that were identified as PSL at the acquisition date. The Company adopted new accounting guidance related to PSLs effective January 1, 2026. See “Note 1. Business, Basis of Presentation and Summary of Significant Accounting Policies” for additional information.

Nine Months Ended September 30, 2026
(in thousands)Real EstateCommercialFinancial
Institutions		Consumer
and Others		Total
Balance at beginning of the period$23,117 $34,353 $— $21,806 $79,276 
(Reversal of) provision for credit losses - loans
(1,027)21,335 — 1,092 21,400 
Day 1 PSL adjustment (1)
— 3,092 — 1,749 4,841 
Loans charged-off— (13,311)— (5,256)(18,567)
Recoveries54 6,560 — 1,281 7,895 
Balance at end of the period$22,144 $52,029 $— $20,672 $94,845 
_________________
(1)The ACL relates to residential and commercial loans purchased with an aggregate principal balance of $376.8 million that were identified as PSL at the acquisition date. The Company adopted new accounting guidance related to PSLs effective January 1, 2026. See “Note 1. Business, Basis of Presentation and Summary of Significant Accounting Policies” for additional information.

Three Months Ended September 30, 2025
(in thousands)Real EstateCommercialFinancial
Institutions		Consumer
and Others		Total
Balance at beginning of the period$23,056 $40,048 $— $23,415 $86,519 
Provision for (reversal of) credit losses - loans2,519 12,778 — (47)15,250 
Loans charged-off(1,268)(6,244)— (2,024)(9,536)
Recoveries77 1,876 — 732 2,685 
Balance at end of the period$24,384 $48,458 $— $22,076 $94,918 
Nine Months Ended September 30, 2025
(in thousands)Real EstateCommercialFinancial
Institutions		Consumer
and Others		Total
Balance at beginning of the period$16,668 $44,732 $— $23,563 $84,963 
Provision for credit losses - loans8,889 22,907 — 4,210 36,006 
Loans charged-off(1,268)(24,701)— (7,526)(33,495)
Recoveries95 5,520 — 1,829 7,444 
Balance at end of the period$24,384 $48,458 $— $22,076 $94,918 


The ACL was determined utilizing a reasonable and supportable forecast period. It was calculated using a weighted-average of various economic scenarios provided by a third-party and incorporated qualitative components. There have not been material changes in our policies and methodology to estimate the ACL in the nine months ended September 30, 2026.
The ACL as a percentage of total loans held for investment was 1.36% at September 30, 2026 compared to 1.20% at December 31, 2025.
In the third quarter of 2026, the provision for credit losses on loans totaled $8.9 million, primarily driven by net increases from (i) $12.6 million in specific reserves, (ii) $2.0 million in additional reserves for charge-offs, and (iii) $0.2 million due to loan growth. These increases were partially offset by a $6.0 million decrease due to changes in credit quality and macroeconomic factors.
In the first nine months of 2026, provision for credit losses on loans totaled $21.4 million, primarily driven by $16.5 million net increase in specific reserves, and $9.2 million in additional reserves for charge-offs. These increases were partially offset by $2.5 million release attributable to changes in credit quality and macroeconomic factors and a $1.8 million release related to loans held for investment volume changes.

ACL on PSLs

PSLs are initially recorded at the purchase price. An ACL is established at acquisition on a collective basis and allocated to individual loans. The sum of the loan’s purchase price and the ACL represents the loan’s initial amortized cost basis. The difference between the initial amortized cost basis and the loan’s par value represents a noncredit discount or premium. Any noncredit discount or premium is accreted or amortized into interest income using the effective interest method over the remaining contractual term of the loan.

Subsequent to acquisition, the ACL for PSL loans is measured using the same methodology applied to other originated loans held for investment and measured at amortized cost. Subsequent changes in the ACL losses are recognized through credit loss expense.
For PSLs for which expected credit losses are measured using methods other than discounted cash flows, management evaluated the optional election under PSL accounting guidance to measure the initial allowance based on amortized cost. However, this election was not made for loans purchased in the first nine months of 2026. Under PSL guidance, this election is made on an acquisition-by-acquisition basis.

Loan Modifications to Borrowers Experiencing Financial Difficulty
The Company modifies loans related to borrowers experiencing financial difficulties by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted.
In the nine months ended September 30, 2026, the Company modified one CRE loan relationship related to a borrower experiencing financial difficulties. The modification consisted of a combination of an interest rate reduction and a term extension, with no significant financial effect. At September 30, 2026, this loan relationship had an amortized cost of $15.8 million, or 0.9%, of total CRE loans held for investment, and remained current and on accrual status. As of December 31, 2025, there were no outstanding balances related to loan modifications to borrowers experiencing financial difficulties. The Company had no new loan modifications to borrowers experiencing financial difficulty during the nine months ended September 30, 2025.
There were no modified loans to borrowers that had experienced financial difficulty that defaulted in the three and nine month periods ended September 30, 2026 and 2025 and had been modified within 12 months preceding the payment default.
Credit Risk Quality

The sufficiency of the ACL is reviewed at least quarterly by the Executive Credit Officer and the Chief Financial Officer. The Board of Directors considers the ACL as part of its review of the Company’s consolidated financial statements. As of September 30, 2026 and December 31, 2025, the Company believes the ACL to be sufficient to absorb expected credit losses in the loans portfolio in accordance with GAAP.
Loans may be classified but not considered collateral dependent due to one of the following reasons: (1) the Company has established minimum dollar amount thresholds for individual assessment of expected credit losses, which results in loans under those thresholds being excluded from individual assessment of expected credit losses; and (2) classified loans may be considered in the assessment because the Company expects to collect all amounts due.
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 primarily to (i) the risk rating of loans, (ii) the loan payment status, (iii) net charge-offs, (iv) nonperforming loans and (v) the general economic conditions in the main geographies where the Company’s borrowers conduct their businesses. The Company considers the views of its regulators as to loan classification and in the process of estimating expected credit losses.
The Company utilizes an internal risk rating system to identify the risk characteristics of each of its loans, or group of homogeneous loans such as consumer loans. Internal risk ratings are updated on a continuous basis on a scale from 1 (worst credit quality) to 10 (best credit quality). Loans are then grouped in five master risk categories for purposes of monitoring rising levels of potential loss risks and to enable the activation of collection or recovery processes as defined in the Company’s Credit Risk Policy. Internal risk ratings are considered the most meaningful indicator of credit quality for commercial loans. Generally, internal risk ratings for commercial real estate loans and commercial loans with balances over $3 million are assessed for updates at least annually and more frequently if circumstances indicate that a change in risk rating may be warranted. For consumer loans, single-family residential loans and smaller commercial loans under $3 million, risk ratings are updated based on the loans past due status.
The following is a summary of the master risk categories and their associated loan risk ratings, as well as a description of the general characteristics of the master risk category:
Loan Risk Rating
Master risk category
Nonclassified
4 to 10
Classified
1 to 3
Substandard3
Doubtful2
Loss1
Nonclassified
This category includes loans considered as Pass (5-10) and Special Mention (4). A loan classified as Pass is considered of sufficient quality to preclude a lower adverse rating. These loans are generally well protected by the current net worth and paying capacity of the borrower or by the value of any collateral received. Special Mention loans are defined as having potential weaknesses that deserve management’s close attention which, if left uncorrected, could potentially result in further credit deterioration. Special Mention loans may include loans originated with certain credit weaknesses or that developed those weaknesses since their origination.
Classified
This classification indicates the presence of credit weaknesses which could make loan repayment unlikely, such as partial or total late payments and other contractual defaults.
Substandard
A loan classified substandard is inadequately protected by the sound worth and paying capacity of the borrower or the collateral pledged. They are characterized by the distinct possibility that the Company will sustain some loss if the credit weaknesses are not corrected. Loss potential, while existing in the aggregate amount of substandard loans, does not have to exist in individual assets.
Doubtful
These loans have all the weaknesses inherent in a loan classified as substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. These are poor quality loans in which neither the collateral, if any, nor the financial condition of the borrower presently ensure collection in full in a reasonable period of time. As a result, the possibility of loss is extremely high.
Loss
Loans classified as loss are considered uncollectible and of such little value that the continuance as bankable assets is not warranted. This classification does not mean that the assets have absolutely no recovery or salvage value, but not to the point where a write-off should be deferred even though partial recoveries may occur in the future. This classification is based upon current facts, not probabilities. As a result, loans in this category should be promptly charged off in the period in which they are determined to be uncollectible.
Loans held for investment by Credit Quality Indicators
The following tables present Loans held for investment by credit quality indicators and year of origination as of September 30, 2026 and December 31, 2025:

September 30, 2026
Term Loans
Amortized Cost Basis by Origination Year
(in thousands)20262025202420232022PriorRevolving Loans
Amortized Cost
Basis		Total
Real estate loans
Commercial real estate
Nonowner occupied
Credit Risk Rating:
Nonclassified
Pass$207,026 $203,376 $244,032 $105,226 $56,779 $479,961 $76,085 $1,372,485 
Special Mention— — 21,761 — 1,015 45,514 7,510 75,800 
Classified
Substandard— — — — 17,856 216 2,382 20,454 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Nonowner occupied207,026 203,376 265,793 105,226 75,650 525,691 85,977 1,468,739 
Multi-family residential
Credit Risk Rating:
Nonclassified
Pass25,107 19,785 7,628 1,466 33,538 130,679 1,421 219,624 
Special Mention— — — — — — — — 
Classified
Substandard— — — — — 377 — 377 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Multi-family residential25,107 19,785 7,628 1,466 33,538 131,056 1,421 220,001 
Land development and construction loans
Credit Risk Rating:
Nonclassified
Pass4,089 205,442 146,020 11,426 1,142 10,295 86,557 464,971 
Special Mention— — 35,901 — — — — 35,901 
Classified
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total land development and construction loans4,089 205,442 181,921 11,426 1,142 10,295 86,557 500,872 
Single-family residential
Credit Risk Rating:
Nonclassified
Pass733,757 140,955 201,081 154,151 345,637 225,839 324,677 2,126,097 
Special Mention— — — — 2,500 — — 2,500 
Classified
Substandard— — 15,915 4,278 5,770 2,877 2,237 31,077 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Single-family residential733,757 140,955 216,996 158,429 353,907 228,716 326,914 2,159,674 
Owner occupied
Credit Risk Rating:
Nonclassified
Pass71,479 100,405 65,467 59,712 87,305 222,604 37,344 644,316 
Special Mention— — — 2,408 — 2,556 — 4,964 
Classified
Substandard— 2,120 41,672 2,052 7,916 3,078 4,640 61,478 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total owner occupied71,479 102,525 107,139 64,172 95,221 228,238 41,984 710,758 
September 30, 2026
Term Loans Amortized Cost Basis by Origination Year
(in thousands)20262025202420232022PriorRevolving Loans
Amortized Cost
Basis		Total
Non-real estate loans
Commercial Loans
Credit Risk Rating:
Nonclassified
Pass$53,105 $310,963 $224,107 $54,141 $51,633 $148,451 $721,444 $1,563,844 
Special Mention— 530 — — — 1,025 — 1,555 
Classified
Substandard6,072 17,675 37,441 7,417 14,102 401 8,809 91,917 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total commercial Loans59,177 329,168 261,548 61,558 65,735 149,877 730,253 1,657,316 
Loans to financial institutions and acceptances
Credit Risk Rating:
Nonclassified
Pass— — 5,108 — — — 44,394 49,502 
Special Mention— — — — — — — — 
Classified
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total loans to financial institutions and acceptances— — 5,108 — — — 44,394 49,502 
Consumer loans
Credit Risk Rating:
Nonclassified
Pass3,356 1,080 7,865 5,613 16,904 1,413 166,101 202,332 
Special Mention— — — — — — — — 
Classified
Substandard— — 7,419 49 185 12 2 7,667 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total consumer loans and overdrafts
3,356 1,080 15,284 5,662 17,089 1,425 166,103 209,999 
Total loans held for investment, gross$1,103,991 $1,002,331 $1,061,417 $407,939 $642,282 $1,275,298 $1,483,603 $6,976,861 
December 31, 2025
Term Loans
Amortized Cost Basis by Origination Year
(in thousands)20252024202320222021PriorRevolving Loans
Amortized Cost
Basis		Total
Real estate loans
Commercial real estate
Nonowner occupied
Credit Risk Rating:
Nonclassified
Pass$269,574 $278,655 $101,892 $102,235 $291,480 $343,926 $113,760 $1,501,522 
Special Mention— 19,735 8,355 — — 28,036 — 56,126 
Classified
Substandard— 3,003 1,022 13,879 — 10,911 5,398 34,213 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Nonowner occupied269,574 301,393 111,269 116,114 291,480 382,873 119,158 1,591,861 
Multi-family residential
Credit Risk Rating:
Nonclassified
Pass19,910 14,683 1,484 46,760 68,910 115,280 1,281 268,308 
Special Mention— — — — — — 31,704 31,704 
Classified
Substandard— 22,435 — — — — — 22,435 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Multi-family residential19,910 37,118 1,484 46,760 68,910 115,280 32,985 322,447 
Land development and construction loans
Credit Risk Rating:
Nonclassified
Pass114,736 214,237 37,885 — 3,111 9,482 154,577 534,028 
Special Mention— — — — — — — — 
Classified
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total land development and construction loans114,736 214,237 37,885 — 3,111 9,482 154,577 534,028 
Single-family residential
Credit Risk Rating:
Nonclassified
Pass139,809 240,521 197,594 363,855 113,776 120,307 312,576 1,488,438 
Special Mention— — — — 733 — — 733 
Classified
Substandard— 16,353 2,833 1,941 645 2,344 1,894 26,010 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total Single-family residential139,809 256,874 200,427 365,796 115,154 122,651 314,470 1,515,181 
Owner occupied
Credit Risk Rating:
Nonclassified
Pass100,848 105,743 83,271 141,901 158,804 120,486 33,833 744,886 
Special Mention— 10,218 — 1,085 1,182 — — 12,485 
Classified
Substandard— 21,486 576 5,633 21,824 17 2,429 51,965 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total owner occupied100,848 137,447 83,847 148,619 181,810 120,503 36,262 809,336 
December 31, 2025
Term Loans Amortized Cost Basis by Origination Year
(in thousands)20252024202320222021PriorRevolving Loans
Amortized Cost
Basis		Total
Non-real estate loans
Commercial Loans
Credit Risk Rating:
Nonclassified
Pass$294,197 $241,148 $88,139 $51,995 $2,738 $26,986 $575,726 $1,280,929 
Special Mention209 892 5,666 — 47 — 28,594 35,408 
Classified
Substandard9,222 53,793 — 17,036 86 3,380 46,093 129,610 
Doubtful— — — — — — 459 459 
Loss— — — — — — — — 
Total commercial loans303,628 295,833 93,805 69,031 2,871 30,366 650,872 1,446,406 
Loans to financial institutions and acceptances
Credit Risk Rating:
Nonclassified
Pass4,988 86,456 — — — — 57,158 148,602 
Special Mention— — — — — — — — 
Classified
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total loans to financial institutions and acceptances4,988 86,456 — — — — 57,158 148,602 
Consumer loans
Credit Risk Rating:
Nonclassified
Pass10,391 9,230 8,626 35,057 4,558 596 167,868 236,326 
Special Mention— — — — — — — — 
Classified
Substandard— 8,676 125 308 85 10 — 9,204 
Doubtful— — — — — — — — 
Loss— — — — — — — — 
Total consumer loans and overdrafts
10,391 17,906 8,751 35,365 4,643 606 167,868 245,530 
Total loans held for investment, gross$963,884 $1,347,264 $537,468 $781,685 $667,979 $781,761 $1,533,350 $6,613,391 
The following tables present gross charge-offs by year of origination for the periods presented:

Three Months Ended September 30, 2026
Term Loans Charge-offs by Origination Year
(in thousands)20262025202420232022PriorRevolving Loans
Charge-Offs		Total
Quarter-To-Date Gross Charge-offs
Real estate loans
Commercial real estate
Nonowner occupied$— $— $— $— $— $— $— $— 
Multi-family residential— — — — — — — — 
Land development and construction loans— — — — — — — — 
— — — — — — — — 
Single-family residential— — — — — — — — 
Owner occupied— — — — — — — — 
— — — — — — — — 
Commercial loans— — — — 2,424 673 — 3,097 
Loans to financial institutions and acceptances— — — — — — — — 
Consumer loans and overdrafts111 — — 272 387 56 — 826 
Total Quarter-To-Date Gross Charge-Offs$111 $— $— $272 $2,811 $729 $— $3,923 


Nine Months Ended September 30, 2026
Term Loans Charge-offs by Origination Year
(in thousands)20262025202420232022PriorRevolving Loans
Charge-Offs		Total
Year-To-Date Gross Charge-offs
Real estate loans
Commercial real estate
Nonowner occupied$— $— $— $— $— $— $— $— 
Multi-family residential— — — — — — — — 
Land development and construction loans— — — — — — — — 
— — — — — — — — 
Single-family residential— — — — — — — — 
Owner occupied— — — — — — — — 
— — — — — — — — 
Commercial loans— 3,614 3,266 — 2,943 3,488 — 13,311 
Loans to financial institutions and acceptances— — — — 

— — — — 
Consumer loans and overdrafts222 5 — 2,701 1,856 472 — 5,256 
Total Year-To-Date Gross Charge-Offs$222 $3,619 $3,266 $2,701 $4,799 $3,960 $— $18,567 
Three Months Ended September 30, 2025
Term Loans Charge-offs by Origination Year
(in thousands)20252024202320222021PriorRevolving Loans
Charge-Offs		Total
Quarter-To-Date Gross Charge-offs
Real estate loans
Commercial real estate
Nonowner occupied$— $— $— $— $— $— $— $— 
Multi-family residential— — — — — 1,268 — 1,268 
Land development and construction loans— — — — — — — — 
— — — — — 1,268 — 1,268 
Single-family residential— — — 33 — — — 33 
Owner occupied— — — — — — — — 
— — — 33 — 1,268 — 1,301 
Commercial loans— 1,779 1,611 62 123 2,669 — 6,244 
Loans to financial institutions and acceptances— — — — — — — — 
Consumer loans and overdrafts188 — 96 1,088 542 77 — 1,991 
Total Quarter-To-Date Gross Charge-Offs$188 $1,779 $1,707 $1,183 $665 $4,014 $— $9,536 


Nine Months Ended September 30, 2025
Term Loans Charge-offs by Origination Year
(in thousands)20252024202320222021PriorRevolving Loans
Charge-Offs		Total
Year-To-Date Gross Charge-offs
Real estate loans
Commercial real estate
Nonowner occupied$— $— $— $— $— $— $— $— 
Multi-family residential— — — — — 1,268 — 1,268 
Land development and construction loans— — — — — — — — 
— — — — — 1,268 — 1,268 
Single-family residential— — 141 55 15 38 — 249 
Owner occupied— — — — — 130 — 130 
— — 141 55 15 1,436 — 1,647 
Commercial loans— 2,058 6,732 11,960 386 3,435 — 24,571 
Loans to financial institutions and acceptances— — — — — — — — 
Consumer loans and overdrafts476 8 693 4,605 1,284 211 — 7,277 
Total Year-To-Date Gross Charge-Offs$476 $2,066 $7,566 $16,620 $1,685 $5,082 $— $33,495 
Individually Evaluated Loans - Collateral-Dependent and Other
Loans individually evaluated for expected credit losses are primarily those with well‑defined weaknesses that are classified as substandard or worse and that have loan balances of $1 million or greater. Certain smaller‑balance loans may also be individually evaluated when a loss is deemed highly likely and the loan is fully reserved. These loans are mainly evaluated under two methods, collateral-dependent and discounted cash flow.

Loans are considered collateral-dependent when the repayment of the loan is expected to be provided by the sale or operation of the underlying collateral. In this case, the ACL is measured based on the difference between the fair value of the collateral less estimated costs to sell and the amortized cost basis of the loan as of the measurement date. The ACL may be zero if the fair value less estimated costs to sell of the collateral at the measurement date is equal or greater than the amortized cost basis of the loan.

Loans are evaluated under the discounted cash flow method when the Company expects repayment of the financial asset from the payments received, the ACL is measured based on the difference between the present value of the expected payments to be received discounted at the loan’s contractual interest rate and the amortized cost basis of the loan as of the measurement date. In certain circumstances, management may utilize probability‑weighted scenarios to reflect different reasonable and supportable expectations of future cash collections. The ACL may be zero if the present value at the measurement date is equal or greater than the amortized cost basis of the loan.

As of September 30, 2026 and December 31, 2025, the Company’s individually evaluated loans, totaled $191.0 million and $259.3 million, respectively.

Collateral -Dependent Loans
The following tables present the amortized cost basis of collateral dependent loans related to borrowers experiencing financial difficulty by type of collateral as of September 30, 2026 and December 31, 2025:

As of September 30, 2026
Collateral Type
(in thousands)Commercial Real EstateResidential Real EstateOtherTotalSpecific Reserves
Real estate loans
Commercial real estate
Nonowner occupied (1)$19,975 $— $— $19,975 $1,079 
Multi-family residential— — — — — 
Land development and construction loans — — — — — 
19,975 — — 19,975 1,079 
Single-family residential (2)— 15,040 — 15,040 — 
Owner occupied (3)54,948 — — 54,948 499 
74,923 15,040 — 89,963 1,578 
Commercial loans (4)416 — 12,146 12,562 1,811 
Loans to financial institutions and acceptances
— — — — — 
Consumer loans and overdrafts— — 7,418 7,418 — 
Total
$75,339 $15,040 $19,564 $109,943 $3,389 
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(1)Weighted-average loan-to-value was approximately 79.9% at September 30, 2026.
(2)Weighted-average loan-to-value was approximately 59.5% at September 30, 2026.
(3)Weighted-average loan-to-value was approximately 67.6% at September 30, 2026.
(4)Weighted-average loan-to-value was approximately 26.5% at September 30, 2026.

As of December 31, 2025
Collateral Type
(in thousands)Commercial Real EstateResidential Real EstateOtherTotalSpecific Reserves
Real estate loans
Commercial real estate
Nonowner occupied (1)$33,950 $— $— $33,950 $— 
Multi-family residential (2)22,435 — — 22,435 — 
Land development and construction loans— — — — — 
56,385 — — 56,385 — 
Single-family residential (3)— 15,388 — 15,388 — 
Owner occupied (4)47,365 — — 47,365 — 
103,750 15,388 — 119,138 — 
Commercial loans (5)9,968 — 36,826 46,794 263 
Consumer loans and overdrafts— — 8,676 8,676 — 
Total
$113,718 $15,388 $45,502 $174,608 $263 
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(1)Weighted-average loan-to-value was approximately 76.9% at December 31, 2025.
(2)Weighted-average loan-to-value was approximately 33.2% at December 31, 2025.
(3)Weighted-average loan-to-value was approximately 73.7% at December 31, 2025.
(4)Weighted-average loan-to-value was approximately 72.7% at December 31, 2025.
(5)Weighted-average loan-to-value was approximately 77.1% at December 31, 2025.



Other Individually Evaluated Loans
As of September 30, 2026 and December 31, 2025, in addition to collateral dependent loans, the Company individually evaluated loans under the cash flow method with amortized cost balances of $81.1 million and $84.5 million, respectively, and related specific reserves of $15.0 million and $2.4 million, respectively. As of September 30, 2026, the $81.1 million balance consisted of $79.0 million in commercial loans and $2.1 million in owner-occupied loans, while the December 31, 2025 balance consisted entirely of commercial loans. Additionally, as of September 30, 2026, there were no unsecured commercial loans individually evaluated compared to $0.2 million, of unsecured commercial loans as of December 31, 2025, which were 100% reserved.