Hanmi Financial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loans (Tables)

Loans (Tables)

6 Months Ended

Jun. 30, 2024

Loans consisted of the following as of the dates indicated:


	June 30, 2024			December 31, 2023
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,094,728		$	1,107,360
Hospitality		754,600			740,519
Office		572,532			574,981
Other (1)		1,360,139			1,366,534
Total commercial property loans		3,781,999			3,789,394
Construction		106,506			100,345
Residential (2)		954,209			962,661
Total real estate loans		4,842,714			4,852,400
Commercial and industrial loans (3)		802,372			747,819
Equipment financing agreements		531,273			582,215
Loans receivable		6,176,359			6,182,434
Allowance for credit losses		(67,729	)		(69,462	)
Loans receivable, net	$	6,108,630		$	6,112,972

(1)

Includes mixed-use, multifamily, industrial, gas stations, faith-based facilities, and medical; all other property types represent less than one percent of total loans receivable.

(2)

Includes $1.5 million and $1.9 million of home equity loans and lines, and $4.9 million and $4.5 million of personal loans at June 30, 2024 and December 31, 2023, respectively.

(3)

At June 30, 2024 and December 31, 2023, Paycheck Protection Program loans were $0.1 million and $0.2 million, respectively.

Activity for Loans Held for Sale

The following is the activity for loans held for sale for the following periods:


	Real Estate			Commercial and Industrial			Total
	(in thousands)
Three months ended June 30, 2024
Balance at beginning of period	$	1,454		$	2,545		$	3,999
Originations and transfers		20,572			9,391			29,963
Sales		(14,877	)		(8,613	)		(23,490	)
Principal paydowns and amortization		—			(5	)		(5	)
Balance at end of period	$	7,149		$	3,318		$	10,467

Three months ended June 30, 2023
Balance at beginning of period	$	379		$	3,273		$	3,652
Originations and transfers		14,494			9,094			23,588
Sales		(9,329	)		(10,614	)		(19,943	)
Principal paydowns and amortization		—			(4	)		(4	)
Balance at end of period	$	5,544		$	1,749		$	7,293


	Real Estate			Commercial and Industrial			Total
	(in thousands)
Six months ended June 30, 2024
Balance at beginning of period	$	8,792		$	3,221		$	12,013
Originations and transfers		30,186			17,409			47,595
Sales		(31,775	)		(17,301	)		(49,076	)
Principal payoffs and amortization		(54	)		(11	)		(65	)
Balance at end of period	$	7,149		$	3,318		$	10,467

Six months ended June 30, 2023
Balance at beginning of period	$	3,775		$	4,268		$	8,043
Originations and transfers		30,881			18,023			48,904
Sales		(29,111	)		(20,532	)		(49,643	)
Principal payoffs and amortization		(1	)		(10	)		(11	)
Balance at end of period	$	5,544		$	1,749		$	7,293

Loans Purchased by Portfolio Segment

The following table presents loans purchased by portfolio segment for the following periods:


	Three Months Ended				Six Months Ended
	June 30,				June 30,
	2024		2023		2024		2023
	(in thousands)
Commercial real estate	$	6,060	$	—	$	6,334	$	—
Commercial and industrial		8,398		—		18,322		—
Residential real estate		5,178		—		5,178		—
Total	$	19,636	$	—	$	29,834	$	—

Allowance for Credit Losses by Portfolio Segment

The following table details the information on the allowance for credit losses by portfolio segment for the following periods:


	Real Estate			Commercial and Industrial			Equipment Financing Agreements			Total
	(in thousands)
Three months ended June 30, 2024
Balance at beginning of period	$	42,584		$	11,836		$	13,850		$	68,270
Charge-offs		(93	)		(93	)		(2,152	)		(2,338	)
Recoveries		64			166			318			548
Credit loss expense (recovery)		(403	)		(1,346	)		2,998			1,249
Ending balance	$	42,152		$	10,563		$	15,014		$	67,729

Three months ended June 30, 2023
Balance at beginning of period	$	43,531		$	15,333		$	13,385		$	72,249
Charge-offs		—			(103	)		(2,604	)		(2,707	)
Recoveries		62			555			350			967
Credit loss expense (recovery)		(539	)		244			810			515
Ending balance	$	43,054		$	16,029		$	11,941		$	71,024


	Real Estate			Commercial and Industrial			Equipment Financing Agreements			Total
	(in thousands)
Six months ended June 30, 2024
Balance at beginning of period	$	45,499		$	10,257		$	13,706		$	69,462
Charge-offs		(93	)		(248	)		(4,120	)		(4,461	)
Recoveries		111			224			741			1,076
Credit loss expense (recovery)		(3,365	)		330			4,687			1,652
Ending balance	$	42,152		$	10,563		$	15,014		$	67,729

Six months ended June 30, 2023
Balance at beginning of period	$	44,026		$	15,267		$	12,230		$	71,523
Charge-offs		(412	)		(312	)		(4,220	)		(4,944	)
Recoveries		130			791			829			1,750
Credit loss expense (recovery)		(690	)		283			3,102			2,695
Ending balance	$	43,054		$	16,029		$	11,941		$	71,024

The table below presents the allowance for credit losses by portfolio segment as a percentage of the total allowance for credit losses and loans by portfolio segment as a percentage of the aggregate investment of loans receivable as of:


	June 30, 2024										December 31, 2023
	Allowance Amount		Percentage of Total Allowance			Total Loans		Percentage of Total Loans			Allowance Amount		Percentage of Total Allowance			Total Loans		Percentage of Total Loans
	(dollars in thousands)
Real estate loans:
Commercial property
Retail	$	10,126		15.0	%	$	1,094,728		17.7	%	$	10,264		14.8	%	$	1,107,360		17.9	%
Hospitality		11,995		17.7			754,600		12.2			15,534		22.4			740,519		12.0
Office		3,712		5.5			572,532		9.3			3,024		4.4			574,981		9.3
Other		7,889		11.6			1,360,139		22.0			8,663		12.4			1,366,534		22.1
Total commercial property loans		33,722		49.8			3,781,999		61.2			37,485		54.0			3,789,394		61.3
Construction		2,371		3.5			106,506		1.7			2,756		4.0			100,345		1.6
Residential		6,060		8.9			954,209		15.5			5,258		7.5			962,661		15.6
Total real estate loans		42,153		62.2			4,842,714		78.4			45,499		65.5			4,852,400		78.5
Commercial and industrial loans		10,563		15.6			802,372		13.0			10,257		14.8			747,819		12.1
Equipment financing agreements		15,013		22.2			531,273		8.6			13,706		19.7			582,215		9.4
Total	$	67,729		100.0	%	$	6,176,359		100.0	%	$	69,462		100.0	%	$	6,182,434		100.0	%

Summary of Amortized Cost Basis of Collateral Dependent Loans By Class of Loans

The following table represents the amortized cost basis of collateral-dependent loans by class of loans, for which repayment is expected to be obtained through the sale of the underlying collateral, as of:


	June 30, 2024		December 31, 2023
	(in thousands)
Real estate loans:
Commercial property
Retail	$	560	$	1,530
Hospitality		282		338
Other		2,950		305
Total commercial property loans		3,792		2,173
Construction		1,225		—
Residential		813		1
Total real estate loans		5,830		2,174
Commercial and industrial loans		3,927		5,178
Total	$	9,757	$	7,352

Credit Quality of Loan Portfolio


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2024		2023		2022		2021		2020			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
June 30, 2024
Real estate loans:
Commercial property
Risk Rating							`
Pass / Pass-Watch	$	275,556	$	591,728	$	969,146	$	835,446	$	566,215		$	482,632		$	35,069		$	3,755,792
Special Mention		6,168		—		—		—		1,312			260			—			7,740
Classified		190		—		6,146		3,212		—			8,919			—			18,467
Total commercial property		281,914		591,728		975,292		838,658		567,527			491,811			35,069			3,781,999
YTD gross charge-offs		—		—		—		—		—			93			—			93
YTD net charge-offs (recoveries)		—		—		—		—		(13	)		(3	)		—			(16	)

Construction
Risk Rating
Pass / Pass-Watch		50,939		26,024		—		—		—			—			—			76,963
Special Mention		—		—		28,318		—		—			—			—			28,318
Classified		1,225		—		—		—		—			—			—			1,225
Total construction		52,164		26,024		28,318		—		—			—			—			106,506
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			—			—			—

Residential
Risk Rating
Pass / Pass-Watch		68,358		239,937		361,458		153,374		12,387			111,714			5,461			952,689
Special Mention		—		—		—		—		—			—			250			250
Classified		—		1,270		—		—		—			—			—			1,270
Total residential		68,358		241,207		361,458		153,374		12,387			111,714			5,711			954,209
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			(2	)		—			(2	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		394,853		857,689		1,330,604		988,820		578,602			594,346			40,530			4,785,444
Special Mention		6,168		—				28,318		1,312			260			250			36,308
Classified		1,415		1,270		6,146		3,212		—			8,919			—			20,962
Total real estate loans		402,436		858,959		1,336,750		1,020,350		579,914			603,525			40,780			4,842,714
YTD gross charge-offs		—		—		—		—		—			93			—			93
YTD net charge-offs (recoveries)		—		—		—		—		(13	)		(5	)		—			(18	)

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		131,352		80,571		138,965		46,328		16,075			17,018			367,024			797,333
Special Mention		294		—		—		—		97			23			200			614
Classified		—		—		93		—		13			392			3,927			4,425
Total commercial and industrial loans		131,646		80,571		139,058		46,328		16,185			17,433			371,151			802,372
YTD gross charge-offs		—		64		155		—		—			29			—			248
YTD net charge-offs (recoveries)		—		64		153		—		—			(20	)		(173	)		24

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		73,866		179,004		169,734		75,420		15,330			9,360			—			522,714
Special Mention		—		—		—		—		—			—			—			—
Classified		—		1,534		4,113		2,256		239			417			—			8,559
Total equipment financing agreements		73,866		180,538		173,847		77,676		15,569			9,777			—			531,273
YTD gross charge-offs		—		347		2,525		874		262			112			—			4,120
YTD net charge-offs (recoveries)		—		315		2,302		685		219			(142	)		—			3,379

Total loans receivable:
Risk Rating
Pass / Pass-Watch		600,071		1,117,264		1,639,303		1,110,568		610,007			620,724			407,554			6,105,491
Special Mention		6,462		—		—		28,318		1,409			283			450			36,922
Classified		1,415		2,804		10,352		5,468		252			9,728			3,927			33,946
Total loans receivable	$	607,948	$	1,120,068	$	1,649,655	$	1,144,354	$	611,668		$	630,735		$	411,931		$	6,176,359
YTD gross charge-offs		—		411		2,680		874		262			234			—			4,461
YTD net charge-offs (recoveries)		—		379		2,455		685		206			(167	)		(173	)		3,385

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2023		2022		2021			2020		2019		Prior			Revolving Loans Amortized Cost Basis			Total

December 31, 2023
Real estate loans:
Commercial property
Risk Rating
Pass / Pass-Watch	$	683,819	$	986,822	$	858,821		$	572,950	$	378,067	$	238,400		$	30,236		$	3,749,115
Special Mention		4,400		3,997		3,271			5,670		711		2,310			1,406			21,765
Classified		3,065		1,080		4,899			—		5,578		3,892			—			18,514
Total commercial property		691,284		991,899		866,991			578,620		384,356		244,602			31,642			3,789,394
YTD gross charge-offs		—		—		—			411		—		216			—			627
YTD net charge-offs (recoveries)		—		—		—			403		—		(81	)		—			322

Construction
Risk Rating
Pass / Pass-Watch		72,039		—		—			—		—		—			—			72,039
Special Mention		—		—		28,306			—		—		—			—			28,306
Classified		—		—		—			—		—		—			—			—
Total construction		72,039		—		28,306			—		—		—			—			100,345
YTD gross charge-offs		—		—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—		—		—			—		—		—			—			—

Residential
Risk Rating
Pass / Pass-Watch		290,196		375,712		158,618			12,656		217		119,736			5,025			962,160
Special Mention		—		—		—			—		—		—			500			500
Classified		—		—		—			—		—		1			—			1
Total residential		290,196		375,712		158,618			12,656		217		119,737			5,525			962,661
YTD gross charge-offs		—		—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—		—		—			—		—		(7	)		—			(7	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		1,046,054		1,362,534		1,017,439			585,606		378,284		358,136			35,261			4,783,314
Special Mention		4,400		3,997		31,577			5,670		711		2,310			1,906			50,571
Classified		3,065		1,080		4,899			—		5,578		3,893			—			18,515
Total real estate loans		1,053,519		1,367,611		1,053,915			591,276		384,573		364,339			37,167			4,852,400
YTD gross charge-offs		—		—		—			411		—		216			—			627
YTD net charge-offs (recoveries)		—		—		—			403		—		(88	)		—			315

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		177,864		169,209		84,198			31,348		9,971		12,920			242,044			727,554
Special Mention		—		14,578		—			102		—		65			(1	)		14,744
Classified		329		—		—			—		79		174			4,939			5,521
Total commercial and industrial loans		178,193		183,787		84,198			31,450		10,050		13,159			246,982			747,819
YTD gross charge-offs		—		17		—			—		110		410			6,120			6,657
YTD net charge-offs (recoveries)		—		5		(7	)		—		101		(6,621	)		6,090			(432	)

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		215,670		211,228		101,622			24,340		18,832		3,192			—			574,884
Special Mention		—		—		—			—		—		—			—			—
Classified		392		4,171		1,945			365		401		57			—			7,331
Total equipment financing agreements		216,062		215,399		103,567			24,705		19,233		3,249			—			582,215
YTD gross charge-offs		178		3,944		3,267			386		799		232			—			8,806
YTD net charge-offs (recoveries)		178		3,744		2,858			244		250		(114	)		—			7,160

Total loans receivable:
Risk Rating
Pass / Pass-Watch		1,439,588		1,742,971		1,203,259			641,294		407,087		374,248			277,305			6,085,752
Special Mention		4,400		18,575		31,577			5,772		711		2,375			1,905			65,315
Classified		3,786		5,251		6,844			365		6,058		4,124			4,939			31,367
Total loans receivable	$	1,447,774	$	1,766,797	$	1,241,680		$	647,431	$	413,856	$	380,747		$	284,149		$	6,182,434
YTD gross charge-offs		178		3,961		3,267			797		909		858			6,120			16,090
YTD net charge-offs (recoveries)		178		3,749		2,851			647		351		(6,823	)		6,090			7,043

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.

Loans by Vintage Year and Payment Performance


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2024		2023		2022		2021		2020			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
June 30, 2024
Real estate loans:
Commercial property
Payment performance
Performing	$	281,724	$	591,728	$	975,172	$	838,658	$	567,527		$	487,487		$	35,069		$	3,777,365
Nonperforming		190		—		120		—		—			4,324			—			4,634
Total commercial property		281,914		591,728		975,292		838,658		567,527			491,811			35,069			3,781,999
YTD gross charge-offs		—		—		—		—		—			93			—			93
YTD net charge-offs (recoveries)		—		—		—		—		(13	)		(3	)		—			(16	)

Construction
Payment performance
Performing		50,939		26,024		—		28,318		—			—			—			105,281
Nonperforming		1,225		—		—		—		—			—			—			1,225
Total construction		52,164		26,024		—		28,318		—			—			—			106,506
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			—			—			—

Residential
Payment performance
Performing		68,358		241,207		361,458		153,374		12,053			111,235			5,711			953,396
Nonperforming		—		—		—		—		334			479			—			813
Total residential		68,358		241,207		361,458		153,374		12,387			111,714			5,711			954,209
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			(2	)		—			(2	)

Total real estate loans
Payment performance
Performing		401,021		858,959		1,336,630		1,020,350		579,580			598,722			40,780			4,836,042
Nonperforming		1,415		—		120		—		334			4,803			—			6,672
Total real estate loans		402,436		858,959		1,336,750		1,020,350		579,914			603,525			40,780			4,842,714
YTD gross charge-offs		—		—		—		—		—			93			—			93
YTD net charge-offs (recoveries)		—		—		—		—		(13	)		(5	)		—			(18	)

Commercial and industrial loans:
Payment performance
Performing		131,646		80,571		139,058		46,328		16,185			17,346			367,224			798,358
Nonperforming		—		—		—		—		—			87			3,927			4,014
Total commercial and industrial loans		131,646		80,571		139,058		46,328		16,185			17,433			371,151			802,372
YTD gross charge-offs		—		64		155		—		—			29			—			248
YTD net charge-offs (recoveries)		—		64		153		—		—			(20	)		(173	)		24

Equipment financing agreements:
Payment performance
Performing		73,866		179,004		169,734		75,420		15,330			9,360			—			522,714
Nonperforming		—		1,534		4,113		2,256		239			417			—			8,559
Total equipment financing agreements		73,866		180,538		173,847		77,676		15,569			9,777			—			531,273
YTD gross charge-offs		—		347		2,525		874		262			112			—			4,120
YTD net charge-offs (recoveries)		—		315		2,302		685		219			(142	)		—			3,379

Total loans receivable:
Payment performance
Performing		606,533		1,118,534		1,645,422		1,142,098		611,095			625,428			408,004			6,157,114
Nonperforming		1,415		1,534		4,233		2,256		573			5,307			3,927			19,245
Total loans receivable	$	607,948	$	1,120,068	$	1,649,655	$	1,144,354	$	611,668		$	630,735		$	411,931		$	6,176,359
YTD gross charge-offs		—		411		2,680		874		262			234			—			4,461
YTD net charge-offs (recoveries)		—		379		2,455		685		206			(167	)		(173	)		3,385

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2023		2022		2021			2020		2019		Prior			Revolving Loans Amortized Cost Basis		Total

December 31, 2023
Real estate loans:
Commercial property
Payment performance
Performing	$	689,449	$	991,899	$	866,841		$	578,620	$	384,275	$	243,819		$	31,642	$	3,786,545
Nonperforming		1,835		—		150			—		81		783			—		2,849
Total commercial property		691,284		991,899		866,991			578,620		384,356		244,602			31,642		3,789,394
YTD gross charge-offs		—		—		—			411		—		216			—		627
YTD net charge-offs (recoveries)		—		—		—			403		—		(81	)		—		322

Construction
Payment performance
Performing		72,039		—		28,306			—		—		—			—		100,345
Nonperforming		—		—		—			—		—		—			—		—
Total construction		72,039		—		28,306			—		—		—			—		100,345
YTD gross charge-offs		—		—		—			—		—		—			—		—
YTD net charge-offs (recoveries)		—		—		—			—		—		—			—		—

Residential
Payment performance
Performing		290,196		375,712		158,618			12,656		217		119,736			5,525		962,660
Nonperforming		—		—		—			—		—		1			—		1
Total residential		290,196		375,712		158,618			12,656		217		119,737			5,525		962,661
YTD gross charge-offs		—		—		—			—		—		—			—		—
YTD net charge-offs (recoveries)		—		—		—			—		—		(7	)		—		(7	)

Total real estate loans
Payment performance
Performing		1,051,684		1,367,611		1,053,765			591,276		384,492		363,555			37,167		4,849,550
Nonperforming		1,835		—		150			—		81		784			—		2,850
Total real estate loans		1,053,519		1,367,611		1,053,915			591,276		384,573		364,339			37,167		4,852,400
YTD gross charge-offs		—		—		—			411		—		216			—		627
YTD net charge-offs (recoveries)		—		—		—			403		—		(88	)		—		315

Commercial and industrial loans:
Payment performance
Performing		177,864		183,787		84,198			31,415		10,050		13,066			242,134		742,514
Nonperforming		329		—		—			35		—		93			4,848		5,305
Total commercial and industrial loans		178,193		183,787		84,198			31,450		10,050		13,159			246,982		747,819
YTD gross charge-offs		—		17		—			—		110		410			6,120		6,657
YTD net charge-offs (recoveries)		—		5		(7	)		—		101		(6,621	)		6,090		(432	)

Equipment financing agreements:
Payment performance
Performing		215,670		211,228		101,622			24,340		18,844		3,192			—		574,896
Nonperforming		392		4,171		1,945			365		389		57			—		7,319
Total equipment financing agreements		216,062		215,399		103,567			24,705		19,233		3,249			—		582,215
YTD gross charge-offs		178		3,944		3,267			386		799		232			—		8,806
YTD net charge-offs (recoveries)		178		3,744		2,858			244		250		(114	)		—		7,160

Total loans receivable:
Payment performance
Performing		1,445,218		1,762,626		1,239,585			647,031		413,386		379,813			279,301		6,166,960
Nonperforming		2,556		4,171		2,095			400		470		934			4,848		15,474
Total loans receivable	$	1,447,774	$	1,766,797	$	1,241,680		$	647,431	$	413,856	$	380,747		$	284,149	$	6,182,434
YTD gross charge-offs		178		3,961		3,267			797		909		858			6,120		16,090
YTD net charge-offs (recoveries)		178		3,749		2,851			647		351		(6,823	)		6,090		7,043

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.

Analysis of Past Due Loans, Including Loans on Nonaccrual Status, Disaggregated by Loan Class

The following is an aging analysis of loans, including loans on nonaccrual status, disaggregated by loan class, as of:


	30-59 Days Past Due			60-89 Days Past Due		90 Days or More Past Due		Total Past Due			Current		Total
	(in thousands)
June 30, 2024
Real estate loans:
Commercial property
Retail	$	833		$	—	$	560	$	1,393		$	1,093,335	$	1,094,728
Hospitality		(24	)		—		—		(24	)		754,624		754,600
Office		816			—		—		816			571,716		572,532
Other		350			14		2,950		3,314			1,356,825		1,360,139
Total commercial property loans		1,975			14		3,510		5,499			3,776,500		3,781,999
Construction		—			—		—		—			106,506		106,506
Residential		824			2,366		812		4,002			950,207		954,209
Total real estate loans		2,799			2,380		4,322		9,501			4,833,213		4,842,714
Commercial and industrial loans		752			301		3,931		4,984			797,388		802,372
Equipment financing agreements		6,823			2,515		5,191		14,529			516,744		531,273
Total loans receivable	$	10,374		$	5,196	$	13,444	$	29,014		$	6,147,345	$	6,176,359

December 31, 2023
Real estate loans:
Commercial property
Retail	$	632		$	—	$	—	$	632		$	1,106,728	$	1,107,360
Hospitality		—			150		22		172			740,347		740,519
Office		—			—		—		—			574,981		574,981
Other		592			—		—		592			1,365,942		1,366,534
Total commercial property loans		1,224			150		22		1,396			3,787,998		3,789,394
Construction		—			—		—		—			100,345		100,345
Residential		521			336		1		858			961,803		962,661
Total real estate loans		1,745			486		23		2,254			4,850,146		4,852,400
Commercial and industrial loans		76			120		5,178		5,374			742,445		747,819
Equipment financing agreements		7,138			2,134		4,551		13,823			568,392		582,215
Total loans receivable	$	8,959		$	2,740	$	9,752	$	21,451		$	6,160,983	$	6,182,434

Schedule of Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due 90 Days and Still Accruing

The following tables represent the amortized cost basis of loans on nonaccrual status and loans past due 90 days and still accruing as of:


	June 30, 2024
	Nonaccrual Loans With No Allowance for Credit Losses		Nonaccrual Loans With Allowance for Credit Losses		Loans Past Due 90 Days Still Accruing		Total Nonperforming Loans
	(in thousands)
Real estate loans:
Commercial property
Retail	$	697	$	525	$	—	$	1,222
Hospitality		259		—		—		259
Office		—		—		—		—
Other		2,949		204		—		3,153
Total commercial property loans		3,905		729		—		4,634
Construction		1,225		—		—		1,225
Residential		813		—		—		813
Total real estate loans		5,943		729		—		6,672
Commercial and industrial loans		4		4,010		—		4,014
Equipment financing agreements		678		7,881		—		8,559
Total	$	6,625	$	12,620	$	—	$	19,245

	December 31, 2023
	Nonaccrual Loans With No Allowance for Credit Losses		Nonaccrual Loans With Allowance for Credit Losses		Loans Past Due 90 Days Still Accruing		Total Nonperforming Loans
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,717	$	321	$	—	$	2,038
Hospitality		338		150		—		488
Other		305		18		—		323
Total commercial property loans		2,360		489		—		2,849
Residential		1		—		—		1
Total real estate loans		2,361		489		—		2,850
Commercial and industrial loans		5,213		92		—		5,305
Equipment financing agreements		570		6,749		—		7,319
Total	$	8,144	$	7,330	$	—	$	15,474

Non-Performing Assets

The following table details nonperforming assets as of the dates indicated:


	June 30, 2024		December 31, 2023
	(in thousands)
Nonaccrual loans	$	19,245	$	15,474
Loans receivable 90 days or more past due and still accruing		—		—
Total nonperforming loans receivable		19,245		15,474
Other real estate owned (“OREO”)		772		117
Total nonperforming assets	$	20,017	$	15,591

Schedule of Loan Modifications

The following table presents loan modifications made to borrowers experiencing financial difficulty, by type of modification, with related amortized cost balances, respective percentage shares of the total class of loans, and the related financial effect, for the periods indicated:

         
        Term Extension

         
        Amortized Cost Basis

        % of Total Class of Loans

        Financial Effect

         
        (in thousands)

        Three and six months ended June 30, 2024

Commercial and industrial loans

20,620

2.6

1 loan with term extension of 6 years