LOANS AND ALLOWANCE FOR CREDIT LOSSES

9 Months Ended

Sep. 30, 2026

Allowance for Credit Loss [Abstract]

Our loan portfolio consists primarily of loans to borrowers within the greater Los Angeles metropolitan and San Francisco Bay area (California), the New York City metropolitan area, Chicago (Illinois), Las Vegas (Nevada), Edison (New Jersey) and Honolulu (Hawaii). Although we seek to avoid concentrations of loans to a single industry or based upon a single class of collateral, real estate and real estate associated businesses are among the principal industries in our market area and, as a result, our loan and collateral portfolios are, to some degree, concentrated in those industries.

The following table presents the balances in our loans held for investment ("HFI") portfolio by loan segment and class as of the dates indicated:


	September 30, 2026		December 31, 2025
Loans HFI: (1)	(dollars in thousands)
Real Estate:
Single-family residential mortgages	$	1,761,352	$	1,655,382
Commercial real estate (2)	1,280,028		1,303,019
Construction and land development	154,620		155,464
Commercial:
Commercial and industrial	151,796		140,061
SBA	48,525		55,978
Other	2,893		4,397
Total loans HFI	$	3,399,214	$	3,314,301
Allowance for loan losses	(44,038)		(43,888)
Total loans HFI, net	$	3,355,176	$	3,270,413

(1)Net of premiums (discounts) on acquired loans and net deferred (fees) and costs on originated loans.

(2)Includes non-farm and non-residential real estate loans, multifamily residential loans and non-owner occupied single-family residential loans.

Accrued interest receivable on loans at September 30, 2026 and December 31, 2025 totaled $14.6 million and $14.3 million (included in "Accrued interest and other assets" in the consolidated balance sheets). At September 30, 2026 and December 31, 2025, loans with carrying values of $2.1 billion and $1.9 billion were pledged to secure advances from the Federal Home Loan Bank ("FHLB") for up to $1.6 billion and $1.4 billion, respectively. At September 30, 2026 and December 31, 2025, loans with carrying values of $86.0 million and $88.9 million were pledged to the Federal Reserve Bank of San Francisco ("FRBSF") Discount Window.

The ACL includes the allowance for loan losses ("ALL") and the reserve for unfunded commitments ("RUC") and is maintained at a level deemed appropriate by management to provide for expected credit losses in the portfolio as of the date of the consolidated balance sheets. The RUC is included in "Accrued interest and other liabilities" on the consolidated balance sheets. The following table presents a summary of the changes in the ACL for the periods indicated:


	For the Three Months Ended
	September 30, 2026						June 30, 2026						September 30, 2025
	Allowance for loan losses		Reserve for unfunded loan commitments		Allowance for credit losses		Allowance for loan losses		Reserve for unfunded loan commitments		Allowance for credit losses		Allowance for loan losses		Reserve for unfunded loan commitments		Allowance for credit losses
	(dollars in thousands)
Beginning balance	$	43,660	$	407	$	44,067	$	43,666	$	484	$	44,150	$	51,014	$	629	$	51,643
Provision for/(reversal of) credit losses	500		—		500		77		(77)		—		750		(125)		625
Charge-offs	(137)		—		(137)		(119)		—		(119)		(7,019)		—		(7,019)
Recoveries	15		—		15		36		—		36		147		—		147
Ending balance	$	44,038	$	407	$	44,445	$	43,660	$	407	$	44,067	$	44,892	$	504	$	45,396


	For the Nine Months Ended September 30,
	2026						2025
	Allowance for loan losses		Reserve for unfunded loan commitments		Allowance for credit losses		Allowance for loan losses		Reserve for unfunded loan commitments		Allowance for credit losses
	(dollars in thousands)
Beginning balance	$	43,888	$	484	$	44,372	$	47,729	$	729	$	48,458
Provision for/(reversal of) credit losses	377		(77)		300		9,983		(225)		9,758
Charge-offs	(283)		—		(283)		(13,084)		—		(13,084)
Recoveries	56		—		56		264		—		264
Ending balance	$	44,038	$	407	$	44,445	$	44,892	$	504	$	45,396

The following tables present the balance and activity related to the ALL for loans HFI by loan portfolio segment and class for the periods presented.


	For the Three Months Ended September 30, 2026
	Single-family residential mortgages		Commercial real estate		Construction and land development		Commercial and industrial		SBA		Other		Total
Allowance for loan losses:	(dollars in thousands)
Beginning balance	$	21,766	$	17,527	$	1,954	$	1,593	$	689	$	131	$	43,660
Provision for/(reversal of) credit losses	4		293		79		132		(11)		3		500
Charge-offs	—		—		—		(107)		—		(30)		(137)
Recoveries	—		—		—		1		1		13		15
Ending balance	$	21,770	$	17,820	$	2,033	$	1,619	$	679	$	117	$	44,038


	For the Three Months Ended June 30, 2026
	Single-family residential mortgages		Commercial real estate		Construction and land development		Commercial and industrial		SBA		Other		Total
Allowance for loan losses:	(dollars in thousands)
Beginning balance	$	21,988	$	17,639	$	1,446	$	1,672	$	769	$	152	$	43,666
(Reversal of)/provision for credit losses	(222)		(139)		508		23		(80)		(13)		77
Charge-offs	—		—		—		(102)		—		(17)		(119)
Recoveries	—		27		—		—		—		9		36
Ending balance	$	21,766	$	17,527	$	1,954	$	1,593	$	689	$	131	$	43,660


	For the Three Months Ended September 30, 2025
	Single-family residential mortgages		Commercial real estate		Construction and land development		Commercial and industrial		SBA		Other		Total
Allowance for loan losses:	(dollars in thousands)
Beginning balance	$	19,106	$	21,423	$	7,971	$	1,493	$	791	$	230	$	51,014
Provision for/(reversal of) credit losses	2,737		(2,730)		312		393		19		19		750
Charge-offs	—		(21)		(6,929)		(4)		(11)		(54)		(7,019)
Recoveries	—		—		138		1		—		8		147
Ending balance	$	21,843	$	18,672	$	1,492	$	1,883	$	799	$	203	$	44,892


	For the Nine Months Ended September 30, 2026
	Single-family residential mortgages		Commercial real estate		Construction and land development		Commercial and industrial		SBA		Other		Total
Allowance for loan losses:	(dollars in thousands)
Beginning balance	$	21,585	$	18,162	$	1,502	$	1,647	$	824	$	168	$	43,888
Provision for/(reversal of) credit losses	185		(369)		531		183		(144)		(9)		377
Charge-offs	—		—		—		(213)		(2)		(68)		(283)
Recoveries	—		27		—		2		1		26		56
Ending balance	$	21,770	$	17,820	$	2,033	$	1,619	$	679	$	117	$	44,038


	For the Nine Months Ended September 30, 2025
	Single-family residential mortgages		Commercial real estate		Construction and land development		Commercial and industrial		SBA		Other		Total
Allowance for loan losses:	(dollars in thousands)
Beginning balance	$	17,518	$	21,879	$	6,053	$	1,339	$	654	$	286	$	47,729
Provision for/(reversal of) credit losses	5,728		89		3,476		550		157		(17)		9,983
Charge-offs	(1,403)		(3,296)		(8,175)		(85)		(12)		(113)		(13,084)
Recoveries	—		—		138		79		—		47		264
Ending balance	$	21,843	$	18,672	$	1,492	$	1,883	$	799	$	203	$	44,892

We categorize loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, collateral adequacy, credit documentation, and current economic trends, among other factors. We analyze loans individually by classifying the loans as to credit risk. This analysis typically includes larger, non-homogeneous loans such as commercial real estate (“CRE”), construction and land development (“C&D”), and commercial and industrial (“C&I”) loans. This analysis is performed on an ongoing basis as new information is obtained. We use the following definitions for risk ratings:

Pass - Loans classified as pass include loans not meeting the risk ratings defined below.

Special Mention -Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date.

Substandard - Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

Doubtful - Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable based on facts, conditions, and values that currently exist.

The following tables summarize our loans HFI by loan portfolio segment, risk rating and vintage year as of the dates indicated. The vintage year is the year of origination, renewal or major modification.


	Term Loan by Vintage
September 30, 2026	2026		2025		2024		2023		2022		Prior		Revolving		Revolving Converted to Term During the Period		Total
Real estate:	(dollars in thousands)
Single-family residential mortgages
Pass	$	304,051	$	303,418	$	73,242	$	112,094	$	468,867	$	496,655	$	795	$	—	$	1,759,122
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		704		1,365		153		8		—		2,230
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	304,051	$	303,418	$	73,242	$	112,798	$	470,232	$	496,808	$	803	$	—	$	1,761,352
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate
Pass	$	143,959	$	254,942	$	139,000	$	35,157	$	379,213	$	279,997	$	—	$	—	$	1,232,268
Special mention	—		—		717		6,612		4,606		6,234		—		—		18,169
Substandard	—		—		4,197		—		2,241		23,153		—		—		29,591
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	143,959	$	254,942	$	143,914	$	41,769	$	386,060	$	309,384	$	—	$	—	$	1,280,028
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Construction and land development
Pass	$	12,327	$	6,864	$	38,682	$	—	$	44,554	$	44,352	$	—	$	—	$	146,779
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		7,841		—		—		7,841
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	12,327	$	6,864	$	38,682	$	—	$	44,554	$	52,193	$	—	$	—	$	154,620
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial:
Commercial and industrial
Pass	$	1,547	$	12,332	$	40	$	999	$	817	$	3,864	$	121,319	$	—	$	140,918
Special mention	—		—		—		—		—		—		27		—		27
Substandard	6		401		3,900		1		37		4,709		1,797		—		10,851
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	1,553	$	12,733	$	3,940	$	1,000	$	854	$	8,573	$	123,143	$	—	$	151,796
YTD gross charge-offs	$	4	$	208	$	1	$	—	$	—	$	—	$	—	$	—	$	213
SBA
Pass	$	3,105	$	7,527	$	2,200	$	1,208	$	4,136	$	17,404	$	—	$	—	$	35,580
Special mention	—		—		—		349		5,783		—		—		—		6,132
Substandard	—		—		2,649		—		—		4,164		—		—		6,813
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	3,105	$	7,527	$	4,849	$	1,557	$	9,919	$	21,568	$	—	$	—	$	48,525
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	2	$	—	$	—	$	2
Other:
Pass	$	—	$	—	$	—	$	46	$	238	$	2,599	$	10	$	—	$	2,893
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	—	$	—	$	—	$	46	$	238	$	2,599	$	10	$	—	$	2,893
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	68	$	—	$	—	$	68
Total by risk rating:
Pass	$	464,989	$	585,083	$	253,164	$	149,504	$	897,825	$	844,871	$	122,124	$	—	$	3,317,560
Special mention	—		—		717		6,961		10,389		6,234		27		—		24,328
Substandard	6		401		10,746		705		3,643		40,020		1,805		—		57,326
Doubtful	—		—		—		—		—		—		—		—		—
Total loans	$	464,995	$	585,484	$	264,627	$	157,170	$	911,857	$	891,125	$	123,956	$	—	$	3,399,214
Total YTD gross charge-offs	$	4	$	208	$	1	$	—	$	—	$	70	$	—	$	—	$	283


	Term Loan by Vintage
December 31, 2025	2025		2024		2023		2022		2021		Prior		Revolving		Revolving Converted to Term During the Period		Total
Real estate:	(dollars in thousands)
Single-family residential mortgages
Pass	$	369,196	$	98,047	$	122,104	$	501,580	$	209,318	$	351,536	$	978	$	—	$	1,652,759
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		679		1,944		—		—		—		—		2,623
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	369,196	$	98,047	$	122,783	$	503,524	$	209,318	$	351,536	$	978	$	—	$	1,655,382
YTD gross charge-offs	$	1	$	—	$	—	$	537	$	174	$	691	$	—	$	—	$	1,403
Commercial real estate
Pass	$	263,863	$	171,328	$	49,551	$	395,493	$	155,891	$	228,915	$	—	$	—	$	1,265,041
Special mention	—		—		—		4,300		668		8,281		—		—		13,249
Substandard	—		668		—		1,578		10,204		12,279		—		—		24,729
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	263,863	$	171,996	$	49,551	$	401,371	$	166,763	$	249,475	$	—	$	—	$	1,303,019
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	1,383	$	3,296	$	—	$	—	$	4,679
Construction and land development
Pass	$	4,739	$	28,059	$	—	$	42,440	$	3,845	$	45,000	$	—	$	—	$	124,083
Special mention	—		3,387		—		—		—		—		—		—		3,387
Substandard	—		—		—		—		19,465		8,529		—		—		27,994
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	4,739	$	31,446	$	—	$	42,440	$	23,310	$	53,529	$	—	$	—	$	155,464
YTD gross charge-offs	$	—	$	—	$	—	$	1,246	$	6,929	$	—	$	—	$	—	$	8,175
Commercial:
Commercial and industrial																	—
Pass	$	13,681	$	55	$	1,041	$	892	$	2,645	$	5,839	$	99,594	$	—	$	123,747
Special mention	—		—		—		—		—		—		2,247		—		2,247
Substandard	413		6,014		5		52		—		5,423		2,160		—		14,067
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	14,094	$	6,069	$	1,046	$	944	$	2,645	$	11,262	$	104,001	$	—	$	140,061
YTD gross charge-offs	$	5	$	6	$	—	$	—	$	—	$	77	$	—	$	—	$	88
SBA
Pass	$	14,433	$	2,834	$	1,283	$	10,718	$	9,655	$	10,939	$	—	$	—	$	49,862
Special mention	—		—		354		—		—		—		—		—		354
Substandard	—		2,271		—		—		481		3,010		—		—		5,762
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	14,433	$	5,105	$	1,637	$	10,718	$	10,136	$	13,949	$	—	$	—	$	55,978
YTD gross charge-offs	$	—	$	12	$	—	$	—	$	—	$	175	$	—	$	—	$	187
Other:
Pass	$	—	$	—	$	86	$	630	$	3,583	$	86	$	12	$	—	$	4,397
Special mention	—		—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—		—
Total	$	—	$	—	$	86	$	630	$	3,583	$	86	$	12	$	—	$	4,397
YTD gross charge-offs	$	—	$	—	$	—	$	—	$	175	$	5	$	—	$	—	$	180
Total by risk rating:
Pass	$	665,912	$	300,323	$	174,065	$	951,753	$	384,937	$	642,315	$	100,584	$	—	$	3,219,889
Special mention	—		3,387		354		4,300		668		8,281		2,247		—		19,237
Substandard	413		8,953		684		3,574		30,150		29,241		2,160		—		75,175
Doubtful	—		—		—		—		—		—		—		—		—
Total loans	$	666,325	$	312,663	$	175,103	$	959,627	$	415,755	$	679,837	$	104,991	$	—	$	3,314,301
Total YTD gross charge-offs	$	6	$	18	$	—	$	1,783	$	8,661	$	4,244	$	—	$	—	$	14,712

The following tables present the aging of the recorded investment in past due loans HFI, by loan segment and class, as of the dates indicated.


	Accruing Loans
September 30, 2026	30-59 Days		60-89 Days		90 Days or More		Total Past Due (1)		Nonaccrual Loans		Current		Total Loans HFI
Real estate:	(dollars in thousands)
Single-family residential mortgages (2)	$	2,293	$	2,057	$	—	$	4,350	$	896	$	1,756,106	$	1,761,352
Commercial real estate	2,136		194		—		2,330		3,057		1,274,641		1,280,028
Construction and land development	—		—		—		—		7,841		146,779		154,620
Commercial:
Commercial and industrial	2		27		—		29		5,109		146,658		151,796
SBA	91		407		—		498		1,932		46,095		48,525
Other	22		—		—		22		—		2,871		2,893
Total	$	4,544	$	2,685	$	—	$	7,229	$	18,835	$	3,373,150	$	3,399,214

(1)Past due loans exclude nonaccrual loans.

(2)Nonaccrual SFR mortgage loans include $153,000 of loans in the process of foreclosure.


	Accruing Loans
December 31, 2025	30-59 Days		60-89 Days		90 Days or More		Total Past Due (1)		Nonaccrual Loans		Current		Total Loans HFI
Real estate:	(dollars in thousands)
Single-family residential mortgages (2)	$	5,140	$	1,321	$	—	$	6,461	$	2,143	$	1,646,778	$	1,655,382
Commercial real estate	284		204		—		488		8,158		1,294,373		1,303,019
Construction and land development	—		—		—		—		27,994		127,470		155,464
Commercial:
Commercial and industrial	1,277		—		—		1,277		5,116		133,668		140,061
SBA	—		542		—		542		1,221		54,215		55,978
Other	13		8		—		21		—		4,376		4,397
Total	$	6,714	$	2,075	$	—	$	8,789	$	44,632	$	3,260,880	$	3,314,301

(1)Past due loans exclude nonaccrual loans.

(2)Nonaccrual SFR mortgage loans include $680,000 of loans in the process of foreclosure.

The following table presents the loans HFI on nonaccrual status and the balance of such loans with no ALL, by loan segment and class, as of the dates indicated:


	September 30, 2026				December 31, 2025
	Nonaccrual Loans with no ALL		Total Nonaccrual Loans		Nonaccrual Loans with no ALL		Total Nonaccrual Loans
Real estate:	(dollars in thousands)
Single-family residential mortgages	$	896	$	896	$	2,143	$	2,143
Commercial real estate	3,057		3,057		4,801		8,158
Construction and land development	7,841		7,841		27,994		27,994
Commercial:
Commercial and industrial	5,109		5,109		5,116		5,116
SBA	1,932		1,932		1,221		1,221

Total	$	18,835	$	18,835	$	41,275	$	44,632

The following tables present the amortized cost basis of individually evaluated collateral-dependent loans, by loan segment and class, and type of collateral which secures such loans as of the dates indicated.


	September 30, 2026
	Type of Collateral
Loan Class	Residential Real Estate		Commercial Real Estate		Business Assets		Total
Real Estate:	(dollars in thousands)
Single-family residential mortgages	$	896	$	—	$	—	$	896
Commercial real estate	—		3,057		—		3,057
Construction and land development	—		7,841		—		7,841
Commercial:
Commercial and industrial	5,109		—		—		5,109
SBA	—		1,534		398		1,932

Total loans	$	6,005	$	12,432	$	398	$	18,835


	December 31, 2025
	Type of Collateral
Loan Class	Residential Real Estate		Commercial Real Estate		Business Assets		Total
Real Estate:	(dollars in thousands)
Single-family residential mortgages	$	2,143	$	—	$	—	$	2,143
Commercial real estate	—		8,158		—		8,158
Construction and land development	19,465		8,529		—		27,994
Commercial:
Commercial and industrial	5,116		—		—		5,116
SBA	—		1,136		85		1,221

Total loans	$	26,724	$	17,823	$	85	$	44,632

We did not recognize any interest income on nonaccrual loans while the loans were in nonaccrual status during 2026 or 2025.

Loan Modifications to Borrowers Experiencing Financial Difficulty - In cases where a borrower is experiencing financial difficulties, we may make certain concessionary modifications to the contractual terms. These concessions may include term extension, payment delay, principal forgiveness, interest rate reduction, or other actions intended to minimize potential losses. We may provide multiple types of concessions on one loan. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for loan losses. Loans modified to borrowers experiencing financial difficulty are individually evaluated for purposes of the allowance for loan losses.

The following tables present loan modifications made to borrowers experiencing financial difficulty by type of modification for the periods indicated:


	Three Months Ended September 30, 2026
	Term Extension				Total Loan Modifications
Loan Class	Balance		Balance	% of Loan Class
	(dollars in thousands)





Commercial and industrial	$	3,899			$	3,899	2.57	%


Total	$	3,899			$	3,899


	Nine Months Ended September 30, 2026
	Term Extension		Payment Deferral		Total Loan Modifications
	Balance		Balance		Balance		% of Loan Class
	(dollars in thousands)


Commercial real estate	$	663	$	—	$	663	0.05	%


Commercial and industrial	3,899		—		3,899		2.57	%
SBA	—		637		637		1.31	%

Total	$	4,562	$	637	$	5,199


	Three Months Ended September 30, 2025
	Payment Deferral		Total Loan Modifications
	Balance		Balance		% of Loan Class
	(dollars in thousands)
Commercial real estate	$	4,872	$	4,872	0.38	%
SBA	410		410		0.76	%
Total	$	5,282	$	5,282


	Nine Months Ended September 30, 2025
	Payment Deferral		Combination - Rate Reduction and Term Modification		Combination - Principal Reduction, Rate Reduction and Term Modification		Total Loan Modifications
	Balance		Balance		Balance		Balance		% of Loan Class
	(dollars in thousands)
Commercial real estate	$	4,872	$	—	$	3,532	$	8,404	0.65	%
Commercial and industrial	—		4,709		—		4,709		3.21	%
SBA	410		—		—		410		0.76	%
Total	$	5,282	$	4,709	$	3,532	$	13,523

At September 30, 2026 and December 31, 2025, we had no commitments to lend to borrowers experiencing financial difficulty whose loans were modified during the period. We closely monitor the performance of loans modified to borrowers experiencing financial difficulty to understand the effectiveness of our modification efforts. The following tables present the payment status of loans that were modified during the preceding 12 month period, by loan class, as of the dates indicated.


	September 30, 2026
Loan Class	Current		30-89 Days Past Due		90 Days or More Past Due		Total
	(dollars in thousands)
Commercial real estate	$	663	$	—	$	—	$	663
Commercial and industrial	3,899		—		—		3,899
SBA	637		—		—		637
Total	$	5,199	$	—	$	—	$	5,199


	September 30, 2025
Loan Class	Current		30-89 Days Past Due		90 Days or More Past Due		Total
	(dollars in thousands)
Construction and land development	$	—	$	—	$	28,222	$	28,222
Commercial real estate	18,607		—		—		18,607
Commercial and industrial	4,708		—		—		4,708
SBA	410		—		—		410
Total	$	23,725	$	—	$	28,222	$	51,947

For the loans modified to borrowers experiencing financial difficulty during the 12 months prior to September 30, 2026, no loans had a payment default of their modified terms in the three months ended September 30, 2026, and one SBA loan with a balance of $127,000 had a payment default of their modified terms in the nine months ended September 30, 2026. For the loans modified to borrowers experiencing financial difficulty during the 12 months prior to September 30, 2025, two construction and land development loans totaling $28.2 million had a payment default of their modified terms in the three and nine months ended September 30, 2025.