Hanmi Financial Corporation Quarterly report [Sections 13 or 15(d)]

Quarterly report [Sections 13 or 15(d)]

Loans (Tables)

Loans (Tables)

9 Months Ended

Sep. 30, 2025

Loans consisted of the following as of the dates indicated:


	September 30, 2025			December 31, 2024
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,106,438		$	1,068,978
Hospitality		823,033			848,134
Office		533,031			568,861
Other (1)		1,482,826			1,385,051
Total commercial property loans		3,945,328			3,871,024
Construction		69,963			78,598
Residential (2)		1,043,577			951,302
Total real estate loans		5,058,868			4,900,924
Commercial and industrial loans		1,052,522			863,431
Equipment financing agreements		416,869			487,022
Loans receivable		6,528,259			6,251,377
Allowance for credit losses		(69,781	)		(70,147	)
Loans receivable, net	$	6,458,478		$	6,181,230

(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 $1.1 million and $1.3 million of home equity loans and lines, and $6.7 million and $4.1 million of personal loans at September 30, 2025 and December 31, 2024, 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 September 30, 2025
Balance at beginning of period	$	45,412		$	4,199		$	49,611
Originations and transfers		13,796			17,624			31,420
Sales		(59,208	)		(15,305	)		(74,513	)
Principal paydowns and amortization		—			(6	)		(6	)
Balance at end of period	$	—		$	6,512		$	6,512

Three months ended September 30, 2024
Balance at beginning of period	$	7,149		$	3,318		$	10,467
Originations and transfers		58,433			8,457			66,890
Sales		(14,697	)		(8,320	)		(23,017	)
Principal paydowns and amortization		(1	)		(3	)		(4	)
Balance at end of period	$	50,884		$	3,452		$	54,336


	Real Estate			Commercial and Industrial			Total
	(in thousands)
Nine months ended September 30, 2025
Balance at beginning of period	$	3,994		$	4,585		$	8,579
Originations and transfers		88,411			51,619			140,030
Sales		(92,403	)		(49,663	)		(142,066	)
Principal payoffs and amortization		(2	)		(29	)		(31	)
Balance at end of period	$	—		$	6,512		$	6,512

Nine months ended September 30, 2024
Balance at beginning of period	$	8,792		$	3,221		$	12,013
Originations and transfers		88,619			25,866			114,485
Sales		(46,473	)		(25,621	)		(72,094	)
Principal payoffs and amortization		(54	)		(14	)		(68	)
Balance at end of period	$	50,884		$	3,452		$	54,336

We occasionally sell residential mortgage loans from the held for investment portfolio when the decision to sell the loans and the sale of the loans occur within the same quarter. During the three months ended September 30, 2025 and 2024 we sold $25.9 million and $20.9 million, respectively, of residential mortgage loans from the held for investment portfolio. During the nine months ended September 30, 2025 and 2024 we sold $36.0 million and $70.0 million, respectively, of residential mortgage loans from the held for investment portfolio.

Loans Purchased by Portfolio Segment

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


	Three Months Ended				Nine Months Ended
	September 30,				September 30,
	2025		2024		2025		2024
	(in thousands)				(in thousands)
Commercial real estate	$	—	$	1,773	$	15,114	$	8,107
Commercial and industrial		—		11,935		9,203		30,257
Residential real estate		2,992		10,744		23,307		15,922
Total	$	2,992	$	24,452	$	47,624	$	54,286

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 September 30, 2025
Balance at beginning of period	$	48,021		$	6,935		$	11,800		$	66,756
Charge-offs		(119	)		(124	)		(2,382	)		(2,625	)
Recoveries		52			2,229			826			3,107
Credit loss expense (recovery)		3,519			(1,738	)		762			2,543
Ending balance	$	51,473		$	7,302		$	11,006		$	69,781

Three months ended September 30, 2024
Balance at beginning of period	$	42,152		$	10,563		$	15,014		$	67,729
Charge-offs		(1,133	)		(190	)		(2,477	)		(3,800	)
Recoveries		729			1,679			516			2,924
Credit loss expense (recovery)		1,946			(2,269	)		2,633			2,310
Ending balance	$	43,694		$	9,783		$	15,686		$	69,163


	Real Estate			Commercial and Industrial			Equipment Financing Agreements			Total
	(in thousands)
Nine months ended September 30, 2025
Balance at beginning of period	$	45,099		$	10,006		$	15,042		$	70,147
Charge-offs		(8,904	)		(1,157	)		(8,131	)		(18,192	)
Recoveries		670			2,463			2,230			5,363
Credit loss expense (recovery)		14,608			(4,010	)		1,865			12,463
Ending balance	$	51,473		$	7,302		$	11,006		$	69,781

Nine months ended September 30, 2024
Balance at beginning of period	$	45,499		$	10,257		$	13,706		$	69,462
Charge-offs		(1,226	)		(438	)		(6,598	)		(8,262	)
Recoveries		840			1,903			1,256			3,999
Credit loss expense (recovery)		(1,419	)		(1,939	)		7,322			3,964
Ending balance	$	43,694		$	9,783		$	15,686		$	69,163

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:


	September 30, 2025										December 31, 2024
	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	$	10,207		14.6	%	$	1,106,438		16.9	%	$	10,171		14.5	%	$	1,068,978		17.1	%
Hospitality		8,183		11.7			823,033		12.6			15,302		21.8			848,134		13.6
Office		6,272		9.0			533,031		8.2			3,935		5.6			568,861		9.1
Other		14,520		20.8			1,482,826		22.7			8,243		11.8			1,385,051		22.2
Total commercial property loans		39,182		56.1			3,945,328		60.4			37,651		53.7			3,871,024		62.0
Construction		1,021		1.5			69,963		1.1			1,664		2.4			78,598		1.3
Residential		11,270		16.2			1,043,577		16.0			5,784		8.2			951,302		15.2
Total real estate loans		51,473		73.8			5,058,868		77.5			45,099		64.3			4,900,924		78.5
Commercial and industrial loans		7,302		10.5			1,052,522		16.1			10,006		14.3			863,431		13.8
Equipment financing agreements		11,006		15.7			416,869		6.4			15,042		21.4			487,022		7.7
Total	$	69,781		100.0	%	$	6,528,259		100.0	%	$	70,147		100.0	%	$	6,251,377		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:


	September 30, 2025		December 31, 2024
	(in thousands)
Real estate loans:
Commercial property
Retail	$	554	$	1,377
Hospitality		399		215
Office		10,566		—
Total commercial property loans		11,519		1,592
Residential		302		1,875
Total real estate loans		11,821		3,467
Commercial and industrial loans		—		32
Total	$	11,821	$	3,499

Credit Quality of Loan Portfolio

Loans by Vintage Year and Risk Rating


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2025			2024		2023			2022		2021		Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
September 30, 2025
Real estate loans:
Commercial property
Risk Rating									`
Pass / Pass-Watch	$	885,426		$	408,107	$	501,038		$	825,219	$	756,659	$	449,479		$	96,717		$	3,922,645
Special Mention		—			—		—			2,008		—		299			—			2,307
Classified		3,971			—		—			12,038		—		4,367			—			20,376
Total commercial property		889,397			408,107		501,038			839,265		756,659		454,145			96,717			3,945,328
YTD gross charge-offs		—			—		—			8,697		—		207			—			8,904
YTD net charge-offs (recoveries)		(6	)		—		—			8,424		—		(181	)		—			8,237

Construction
Risk Rating
Pass / Pass-Watch		8,991			52,973		7,999			—		—		—			—			69,963
Special Mention		—			—		—			—		—		—			—			—
Classified		—			—		—			—		—		—			—			—
Total construction		8,991			52,973		7,999			—		—		—			—			69,963
YTD gross charge-offs		—			—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—			—		—		—			—			—

Residential
Risk Rating
Pass / Pass-Watch		215,102			89,309		155,483			334,993		134,618		103,972			7,134			1,040,611
Special Mention		—			—		—			2,417		—		—			250			2,667
Classified		—			—		—			—		—		299			—			299
Total residential		215,102			89,309		155,483			337,410		134,618		104,271			7,384			1,043,577
YTD gross charge-offs		—			—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—			—		—		(3	)		—			(3	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		1,109,519			550,389		664,520			1,160,212		891,277		553,451			103,851			5,033,219
Special Mention		—			—		—			4,425		—		299			250			4,974
Classified		3,971			—		—			12,038		—		4,666			—			20,675
Total real estate loans		1,113,490			550,389		664,520			1,176,675		891,277		558,416			104,101			5,058,868
YTD gross charge-offs		—			—		—			8,697		—		207			—			8,904
YTD net charge-offs (recoveries)		(6	)		—		—			8,424		—		(184	)		—			8,234

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		378,544			176,079		42,633			48,945		27,540		18,264			347,566			1,039,571
Special Mention		—			—		—			11,801		—		—			—			11,801
Classified		—			1		61			662		—		23			403			1,150
Total commercial and industrial loans		378,544			176,080		42,694			61,408		27,540		18,287			347,969			1,052,522
YTD gross charge-offs		19			373		—			362		82		321			—			1,157
YTD net charge-offs (recoveries)		19			368		(5	)		273		82		80			(2,123	)		(1,306	)

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		103,666			99,097		99,584			78,830		26,145		2,783			—			410,105
Special Mention		—			—		—			—		—		—			—			—
Classified		311			1,011		1,229			2,971		1,087		155			—			6,764
Total equipment financing agreements		103,977			100,108		100,813			81,801		27,232		2,938			—			416,869
YTD gross charge-offs		—			482		2,214			3,880		1,397		158			—			8,131
YTD net charge-offs (recoveries)		—			453		1,796			3,088		700		(134	)		(2	)		5,901

Total loans receivable:
Risk Rating
Pass / Pass-Watch		1,591,729			825,565		806,737			1,287,987		944,962		574,498			451,417			6,482,895
Special Mention		—			—		—			16,226		—		299			250			16,775
Classified		4,282			1,012		1,290			15,671		1,087		4,844			403			28,589
Total loans receivable	$	1,596,011		$	826,577	$	808,027		$	1,319,884	$	946,049	$	579,641		$	452,070		$	6,528,259
YTD gross charge-offs		19			855		2,214			12,939		1,479		686			—			18,192
YTD net charge-offs (recoveries)		13			821		1,791			11,785		782		(238	)		(2,125	)		12,829

(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)
	2024		2023			2022		2021			2020			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
December 31, 2024
Real estate loans:
Commercial property
Risk Rating
Pass / Pass-Watch	$	533,989	$	558,271		$	930,190	$	800,938		$	553,490		$	271,209		$	101,277		$	3,749,364
Special Mention		29,935		—			1,009		—			—			76,524			—			107,468
Classified		541		—			5,658		3,151			72			4,770			—			14,192
Total commercial property		564,465		558,271			936,857		804,089			553,562			352,503			101,277			3,871,024
YTD gross charge-offs		—		—			274		—			—			136			—			410
YTD net charge-offs (recoveries)		—		—			274		—			(21	)		(704	)		—			(451	)

Construction
Risk Rating
Pass / Pass-Watch		70,601		7,997			—		—			—			—			—			78,598
Special Mention		—		—			—		—			—			—			—			—
Classified		—		—			—		—			—			—			—			—
Total construction		70,601		7,997			—		—			—			—			—			78,598
YTD gross charge-offs		—		—			—		—			1,133			—			—			1,133
YTD net charge-offs (recoveries)		—		—			—		—			1,132			(1,358	)		—			(226	)

Residential
Risk Rating
Pass / Pass-Watch		127,986		200,316			355,134		145,310			11,164			105,406			4,436			949,752
Special Mention		—		—			—		—			—			—			251			251
Classified		—		—			983		—			316			—			—			1,299
Total residential		127,986		200,316			356,117		145,310			11,480			105,406			4,687			951,302
YTD gross charge-offs		—		—			—		—			—			—			—			—
YTD net charge-offs (recoveries)		—		—			—		—			—			(3	)		—			(3	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		732,576		766,584			1,285,324		946,248			564,654			376,615			105,713			4,777,714
Special Mention		29,935		—			1,009		—			—			76,524			251			107,719
Classified		541		—			6,641		3,151			388			4,770			—			15,491
Total real estate loans		763,052		766,584			1,292,974		949,399			565,042			457,909			105,964			4,900,924
YTD gross charge-offs		—		—			274		—			1,133			136			—			1,543
YTD net charge-offs (recoveries)		—		—			274		—			1,111			(2,065	)		—			(680	)

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		271,655		59,453			94,385		32,226			12,761			13,360			346,001			829,841
Special Mention		19,473		—			12,401		—			—			20			—			31,894
Classified		—		(5	)		196		102			—			215			1,188			1,696
Total commercial and industrial loans		291,128		59,448			106,982		32,328			12,761			13,595			347,189			863,431
YTD gross charge-offs		19		169			168		—			11			207			2			576
YTD net charge-offs (recoveries)		19		169			160		(13	)		11			123			(3,375	)		(2,906	)

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		140,143		144,617			129,764		52,354			8,085			3,563			—			478,526
Special Mention		—		—			—		—			—			—			—			—
Classified		431		1,945			3,851		1,934			129			206			—			8,496
Total equipment financing agreements		140,574		146,562			133,615		54,288			8,214			3,769			—			487,022
YTD gross charge-offs		30		1,456			5,128		2,206			354			325			—			9,499
YTD net charge-offs (recoveries)		30		1,299			4,488		1,826			287			(211	)		—			7,719

Total loans receivable:
Risk Rating
Pass / Pass-Watch		1,144,374		970,654			1,509,473		1,030,828			585,500			393,538			451,714			6,086,081
Special Mention		49,408		—			13,410		—			—			76,544			251			139,613
Classified		972		1,940			10,688		5,187			517			5,191			1,188			25,683
Total loans receivable	$	1,194,754	$	972,594		$	1,533,571	$	1,036,015		$	586,017		$	475,273		$	453,153		$	6,251,377
YTD gross charge-offs		49		1,625			5,570		2,206			1,498			668			2			11,618
YTD net charge-offs (recoveries)		49		1,468			4,922		1,813			1,409			(2,153	)		(3,375	)		4,133

(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)
	2025			2024		2023			2022		2021		Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
September 30, 2025
Real estate loans:
Commercial property
Payment performance
Performing	$	889,397		$	408,107	$	501,038		$	828,148	$	756,659	$	453,014		$	96,717		$	3,933,080
Nonperforming		—			—		—			11,117		—		1,131			—			12,248
Total commercial property		889,397			408,107		501,038			839,265		756,659		454,145			96,717			3,945,328
YTD gross charge-offs		—			—		—			8,697		—		207			—			8,904
YTD net charge-offs (recoveries)		(6	)		—		—			8,424		—		(181	)		—			8,237

Construction
Payment performance
Performing		8,991			52,973		7,999			—		—		—			—			69,963
Nonperforming		—			—		—			—		—		—			—			—
Total construction		8,991			52,973		7,999			—		—		—			—			69,963
YTD gross charge-offs		—			—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—			—		—		—			—			—

Residential
Payment performance
Performing		215,102			89,309		155,483			337,410		134,618		103,972			7,384			1,043,278
Nonperforming		—			—		—			—		—		299			—			299
Total residential		215,102			89,309		155,483			337,410		134,618		104,271			7,384			1,043,577
YTD gross charge-offs		—			—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—		—			—		—		(3	)		—			(3	)

Total real estate loans
Payment performance
Performing		1,113,490			550,389		664,520			1,165,558		891,277		556,986			104,101			5,046,321
Nonperforming		—			—		—			11,117		—		1,430			—			12,547
Total real estate loans		1,113,490			550,389		664,520			1,176,675		891,277		558,416			104,101			5,058,868
YTD gross charge-offs		—			—		—			8,697		—		207			—			8,904
YTD net charge-offs (recoveries)		(6	)		—		—			8,424		—		(184	)		—			8,234

Commercial and industrial loans:
Payment performance
Performing		378,544			176,079		42,694			61,353		27,540		18,287			347,969			1,052,466
Nonperforming		—			1		—			55		—		—			—			56
Total commercial and industrial loans		378,544			176,080		42,694			61,408		27,540		18,287			347,969			1,052,522
YTD gross charge-offs		19			373		—			362		82		321			—			1,157
YTD net charge-offs (recoveries)		19			368		(5	)		273		82		80			(2,123	)		(1,306	)

Equipment financing agreements:
Payment performance
Performing		103,666			99,097		99,584			78,830		26,145		2,783			—			410,105
Nonperforming		311			1,011		1,229			2,971		1,087		155			—			6,764
Total equipment financing agreements		103,977			100,108		100,813			81,801		27,232		2,938			—			416,869
YTD gross charge-offs		—			482		2,214			3,880		1,397		158			—			8,131
YTD net charge-offs (recoveries)		—			453		1,796			3,088		700		(134	)		(2	)		5,901

Total loans receivable:
Payment performance
Performing		1,595,700			825,565		806,798			1,305,741		944,962		578,056			452,070			6,508,892
Nonperforming		311			1,012		1,229			14,143		1,087		1,585			—			19,367
Total loans receivable	$	1,596,011		$	826,577	$	808,027		$	1,319,884	$	946,049	$	579,641		$	452,070		$	6,528,259
YTD gross charge-offs		19			855		2,214			12,939		1,479		686			—			18,192
YTD net charge-offs (recoveries)		13			821		1,791			11,785		782		(238	)		(2,125	)		12,829

(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)
	2024		2023			2022		2021			2020			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
December 31, 2024
Real estate loans:
Commercial property
Payment performance
Performing	$	564,465	$	558,271		$	936,140	$	804,089		$	553,562		$	351,042		$	101,277		$	3,868,846
Nonperforming		—		—			717		—			—			1,461			—			2,178
Total commercial property		564,465		558,271			936,857		804,089			553,562			352,503			101,277			3,871,024
YTD gross charge-offs		—		—			274		—			—			136			—			410
YTD net charge-offs (recoveries)		—		—			274		—			(21	)		(704	)		—			(451	)

Construction
Payment performance
Performing		70,601		7,997			—		—			—			—			—			78,598
Nonperforming		—		—			—		—			—			—			—			—
Total construction		70,601		7,997			—		—			—			—			—			78,598
YTD gross charge-offs		—		—			—		—			1,133			—			—			1,133
YTD net charge-offs (recoveries)		—		—			—		—			1,132			(1,358	)		—			(226	)

Residential
Payment performance
Performing		127,986		200,316			354,562		145,310			11,164			105,406			4,687			949,431
Nonperforming		—		—			1,555		—			316			—			—			1,871
Total residential		127,986		200,316			356,117		145,310			11,480			105,406			4,687			951,302
YTD gross charge-offs		—		—			—		—			—			—			—			—
YTD net charge-offs (recoveries)		—		—			—		—			—			(3	)		—			(3	)

Total real estate loans
Payment performance
Performing		763,052		766,584			1,290,702		949,399			564,726			456,448			105,964			4,896,875
Nonperforming		—		—			2,272		—			316			1,461			—			4,049
Total real estate loans		763,052		766,584			1,292,974		949,399			565,042			457,909			105,964			4,900,924
YTD gross charge-offs		—		—			274		—			1,133			136			—			1,543
YTD net charge-offs (recoveries)		—		—			274		—			1,111			(2,065	)		—			(680	)

Commercial and industrial loans:
Payment performance
Performing		291,128		59,453			106,863		32,328			12,761			13,498			346,001			862,032
Nonperforming		—		(5	)		119		—			—			97			1,188			1,399
Total commercial and industrial loans		291,128		59,448			106,982		32,328			12,761			13,595			347,189			863,431
YTD gross charge-offs		19		169			168		—			11			207			2			576
YTD net charge-offs (recoveries)		19		169			160		(13	)		11			123			(3,375	)		(2,906	)

Equipment financing agreements:
Payment performance
Performing		140,143		144,617			129,442		52,354			8,079			3,563			—			478,198
Nonperforming		431		1,945			4,173		1,934			135			206			—			8,824
Total equipment financing agreements		140,574		146,562			133,615		54,288			8,214			3,769			—			487,022
YTD gross charge-offs		30		1,456			5,128		2,206			354			325			—			9,499
YTD net charge-offs (recoveries)		30		1,299			4,488		1,826			287			(211	)		—			7,719

Total loans receivable:
Payment performance
Performing		1,194,323		970,654			1,527,007		1,034,081			585,566			473,509			451,965			6,237,105
Nonperforming		431		1,940			6,564		1,934			451			1,764			1,188			14,272
Total loans receivable	$	1,194,754	$	972,594		$	1,533,571	$	1,036,015		$	586,017		$	475,273		$	453,153		$	6,251,377
YTD gross charge-offs		49		1,625			5,570		2,206			1,498			668			2			11,618
YTD net charge-offs (recoveries)		49		1,468			4,922		1,813			1,409			(2,153	)		(3,375	)		4,133

(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)
September 30, 2025
Real estate loans:
Commercial property
Retail	$	247	$	1,027		$	554	$	1,828	$	1,104,610	$	1,106,438
Hospitality		—		—			399		399		822,634		823,033
Office		—		—			10,566		10,566		522,465		533,031
Other		1,459		—			—		1,459		1,481,367		1,482,826
Total commercial property loans		1,706		1,027			11,519		14,252		3,931,076		3,945,328
Construction		—		—			—		—		69,963		69,963
Residential		3,961		—			299		4,260		1,039,317		1,043,577
Total real estate loans		5,667		1,027			11,818		18,512		5,040,356		5,058,868
Commercial and industrial loans		662		—			—		662		1,051,860		1,052,522
Equipment financing agreements		3,624		2,283			3,826		9,733		407,136		416,869
Total loans receivable	$	9,953	$	3,310		$	15,644	$	28,907	$	6,499,352	$	6,528,259

December 31, 2024
Real estate loans:
Commercial property
Retail	$	975	$	855		$	254	$	2,084	$	1,066,894	$	1,068,978
Hospitality		516		(50	)		216		682		847,452		848,134
Office		—		212			—		212		568,649		568,861
Other		1,288		—			—		1,288		1,383,763		1,385,051
Total commercial property loans		2,779		1,017			470		4,266		3,866,758		3,871,024
Construction		—		—			—		—		78,598		78,598
Residential		5,129		2,975			980		9,084		942,218		951,302
Total real estate loans		7,908		3,992			1,450		13,350		4,887,574		4,900,924
Commercial and industrial loans		236		132			1,278		1,646		861,785		863,431
Equipment financing agreements		6,154		2,866			5,760		14,780		472,242		487,022
Total loans receivable	$	14,298	$	6,990		$	8,488	$	29,776	$	6,221,601	$	6,251,377

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:


	September 30, 2025
	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	$	554	$	562	$	—	$	1,116
Hospitality		359		201		—		560
Office		10,565		—		—		10,565
Other		—		7		—		7
Total commercial property loans		11,478		770		—		12,248
Residential		299		—		—		299
Total real estate loans		11,777		770		—		12,547
Commercial and industrial loans		—		56		—		56
Equipment financing agreements		206		6,558		—		6,764
Total	$	11,983	$	7,384	$	—	$	19,367

	December 31, 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	$	1,480	$	277	$	—	$	1,757
Hospitality		165		249		—		414
Other		—		7		—		7
Total commercial property loans		1,645		533		—		2,178
Residential		1,866		—		—		1,866
Total real estate loans		3,511		533		—		4,044
Commercial and industrial loans		—		1,404		—		1,404
Equipment financing agreements		513		8,311		—		8,824
Total	$	4,024	$	10,248	$	—	$	14,272

Non-Performing Assets

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


	September 30, 2025		December 31, 2024
	(in thousands)
Nonaccrual loans	$	19,367	$	14,272
Loans past due 90 days and still accruing		—		—
Total nonperforming loans receivable		19,367		14,272
Other real estate owned (“OREO”)		1,995		117
Total nonperforming assets*	$	21,362	$	14,389

* Excludes repossessed personal property of $0.4 million and $0.6 million as of September 30, 2025 and December 31, 2024, respectively.