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

Quarterly report [Sections 13 or 15(d)]

Loans (Tables)

Loans (Tables)

6 Months Ended

Jun. 30, 2025

Loans consisted of the following as of the dates indicated:


	June 30, 2025			December 31, 2024
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,116,540		$	1,068,978
Hospitality		822,021			848,134
Office		556,453			568,861
Other (1)		1,373,836			1,385,051
Total commercial property loans		3,868,850			3,871,024
Construction		80,072			78,598
Residential (2)		993,869			951,302
Total real estate loans		4,942,791			4,900,924
Commercial and industrial loans		917,995			863,431
Equipment financing agreements		445,171			487,022
Loans receivable		6,305,957			6,251,377
Allowance for credit losses		(66,756	)		(70,147	)
Loans receivable, net	$	6,239,201		$	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 $8.3 million and $1.3 million of home equity loans and lines, and $7.1 million and $4.1 million of personal loans at June 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 June 30, 2025
Balance at beginning of period	$	5,015		$	6,816		$	11,831
Originations and transfers		56,000			17,190			73,190
Sales		(15,601	)		(19,787	)		(35,388	)
Principal paydowns and amortization		(2	)		(20	)		(22	)
Balance at end of period	$	45,412		$	4,199		$	49,611

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


	Real Estate			Commercial and Industrial			Total
	(in thousands)
Six months ended June 30, 2025
Balance at beginning of period	$	3,994		$	4,585		$	8,579
Originations and transfers		74,615			33,995			108,610
Sales		(33,195	)		(34,358	)		(67,553	)
Principal payoffs and amortization		(2	)		(23	)		(25	)
Balance at end of period	$	45,412		$	4,199		$	49,611

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

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,
	2025		2024		2025		2024
	(in thousands)				(in thousands)
Commercial real estate	$	—	$	6,060	$	15,113	$	6,334
Commercial and industrial		—		8,398		9,203		18,322
Residential real estate		10,330		5,178		20,315		5,178
Total	$	10,330	$	19,636	$	44,631	$	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, 2025
Balance at beginning of period	$	51,302		$	6,242		$	13,053		$	70,597
Charge-offs		(8,615	)		(811	)		(2,951	)		(12,377	)
Recoveries		194			198			621			1,013
Credit loss expense		5,140			1,306			1,077			7,523
Ending balance	$	48,021		$	6,935		$	11,800		$	66,756

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


	Real Estate			Commercial and Industrial			Equipment Financing Agreements			Total
	(in thousands)
Six months ended June 30, 2025
Balance at beginning of period	$	45,099		$	10,006		$	15,042		$	70,147
Charge-offs		(8,785	)		(1,033	)		(5,749	)		(15,567	)
Recoveries		618			234			1,404			2,256
Credit loss expense (recovery)		11,089			(2,272	)		1,103			9,920
Ending balance	$	48,021		$	6,935		$	11,800		$	66,756

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

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, 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	$	9,886		14.8	%	$	1,116,540		17.7	%	$	10,171		14.5	%	$	1,068,978		17.1	%
Hospitality		7,579		11.3			822,021		13.1			15,302		21.8			848,134		13.6
Office		5,603		8.4			556,453		8.8			3,935		5.6			568,861		9.1
Other		13,268		19.9			1,373,836		21.8			8,243		11.8			1,385,051		22.2
Total commercial property loans		36,336		54.4			3,868,850		61.4			37,651		53.7			3,871,024		62.0
Construction		1,107		1.7			80,072		1.3			1,664		2.4			78,598		1.3
Residential		10,578		15.8			993,869		15.8			5,784		8.2			951,302		15.2
Total real estate loans		48,021		71.9			4,942,791		78.5			45,099		64.3			4,900,924		78.5
Commercial and industrial loans		6,935		10.4			917,995		14.5			10,006		14.3			863,431		13.8
Equipment financing agreements		11,800		17.7			445,171		7.0			15,042		21.4			487,022		7.7
Total	$	66,756		100.0	%	$	6,305,957		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:


	June 30, 2025		December 31, 2024
	(in thousands)
Real estate loans:
Commercial property
Retail	$	874	$	1,377
Hospitality		2,514		215
Office		10,990		—
Total commercial property loans		14,378		1,592
Residential		3,997		1,875
Total real estate loans		18,375		3,467
Total	$	18,375	$	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)
June 30, 2025
Real estate loans:
Commercial property
Risk Rating										`
Pass / Pass-Watch	$	572,829		$	425,598		$	519,482		$	883,296	$	762,889	$	592,258		$	87,965		$	3,844,317
Special Mention		—			—			—			148		—		301			—			449
Classified		834			678			—			12,534		3,089		6,949			—			24,084
Total commercial property		573,663			426,276			519,482			895,978		765,978		599,508			87,965			3,868,850
YTD gross charge-offs		—			—			—			8,585		—		200			—			8,785
YTD net charge-offs (recoveries)		(3	)		—			—			8,311		—		(139	)		—			8,169

Construction
Risk Rating
Pass / Pass-Watch		19,071			53,002			7,999			—		—		—			—			80,072
Special Mention		—			—			—			—		—		—			—			—
Classified		—			—			—			—		—		—			—			—
Total construction		19,071			53,002			7,999			—		—		—			—			80,072
YTD gross charge-offs		—			—			—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—			—			—		—		—			—			—

Residential
Risk Rating
Pass / Pass-Watch		128,556			97,446			167,830			343,344		137,640		109,026			7,562			991,404
Special Mention		—			—			—			—		—		—			250			250
Classified		—			—			—			946		—		1,269			—			2,215
Total residential		128,556			97,446			167,830			344,290		137,640		110,295			7,812			993,869
YTD gross charge-offs		—			—			—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—			—			—		—		(2	)		—			(2	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		720,456			576,046			695,311			1,226,640		900,529		701,284			95,527			4,915,793
Special Mention		—			—			—			148		—		301			250			699
Classified		834			678			—			13,480		3,089		8,218			—			26,299
Total real estate loans		721,290			576,724			695,311			1,240,268		903,618		709,803			95,777			4,942,791
YTD gross charge-offs		—			—			—			8,585		—		200			—			8,785
YTD net charge-offs (recoveries)		(3	)		—			—			8,311		—		(141	)		—			8,167

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		216,947			194,113			45,908			68,389		27,439		20,422			332,135			905,353
Special Mention		—			—			—			12,001		—		—			—			12,001
Classified		—			(2	)		—			110		82		47			404			641
Total commercial and industrial loans		216,947			194,111			45,908			80,500		27,521		20,469			332,539			917,995
YTD gross charge-offs		—			373			—			362		—		298			—			1,033
YTD net charge-offs (recoveries)		—			373			(5	)		346		—		85			—			799

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		77,045			113,036			114,946			94,254		34,222		4,751			—			438,254
Special Mention		—			—			—			—		—		—			—			—
Classified		—			493			1,442			3,693		1,089		200			—			6,917
Total equipment financing agreements		77,045			113,529			116,388			97,947		35,311		4,951			—			445,171
YTD gross charge-offs		—			258			1,826			2,453		1,081		131			—			5,749
YTD net charge-offs (recoveries)		—			229			1,634			1,924		600		(40	)		(2	)		4,345

Total loans receivable:
Risk Rating
Pass / Pass-Watch		1,014,448			883,195			856,165			1,389,283		962,190		726,457			427,662			6,259,400
Special Mention		—			—			—			12,149		—		301			250			12,700
Classified		834			1,169			1,442			17,283		4,260		8,465			404			33,857
Total loans receivable	$	1,015,282		$	884,364		$	857,607		$	1,418,715	$	966,450	$	735,223		$	428,316		$	6,305,957
YTD gross charge-offs		—			631			1,826			11,400		1,081		629			—			15,567
YTD net charge-offs (recoveries)		(3	)		602			1,629			10,581		600		(96	)		(2	)		13,311

(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)
June 30, 2025
Real estate loans:
Commercial property
Payment performance
Performing	$	573,663		$	425,956		$	519,482		$	884,371	$	765,978	$	596,574		$	87,965		$	3,853,989
Nonperforming		—			320			—			11,607		—		2,934			—			14,861
Total commercial property		573,663			426,276			519,482			895,978		765,978		599,508			87,965			3,868,850
YTD gross charge-offs		—			—			—			8,585		—		200			—			8,785
YTD net charge-offs (recoveries)		(3	)		—			—			8,311		—		(139	)		—			8,169

Construction
Payment performance
Performing		19,071			53,002			7,999			—		—		—			—			80,072
Nonperforming		—			—			—			—		—		—			—			—
Total construction		19,071			53,002			7,999			—		—		—			—			80,072
YTD gross charge-offs		—			—			—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—			—			—		—		—			—			—

Residential
Payment performance
Performing		128,556			97,446			167,830			341,566		137,640		109,026			7,812			989,876
Nonperforming		—			—			—			2,724		—		1,269			—			3,993
Total residential		128,556			97,446			167,830			344,290		137,640		110,295			7,812			993,869
YTD gross charge-offs		—			—			—			—		—		—			—			—
YTD net charge-offs (recoveries)		—			—			—			—		—		(2	)		—			(2	)

Total real estate loans
Payment performance
Performing		721,290			576,404			695,311			1,225,937		903,618		705,600			95,777			4,923,937
Nonperforming		—			320			—			14,331		—		4,203			—			18,854
Total real estate loans		721,290			576,724			695,311			1,240,268		903,618		709,803			95,777			4,942,791
YTD gross charge-offs		—			—			—			8,585		—		200			—			8,785
YTD net charge-offs (recoveries)		(3	)		—			—			8,311		—		(141	)		—			8,167

Commercial and industrial loans:
Payment performance
Performing		216,947			194,113			45,908			80,390		27,521		20,447			332,539			917,865
Nonperforming		—			(2	)		—			110		—		22			—			130
Total commercial and industrial loans		216,947			194,111			45,908			80,500		27,521		20,469			332,539			917,995
YTD gross charge-offs		—			373			—			362		—		298			—			1,033
YTD net charge-offs (recoveries)		—			373			(5	)		346		—		85			—			799

Equipment financing agreements:
Payment performance
Performing		77,045			113,036			114,946			94,188		34,222		4,751			—			438,188
Nonperforming		—			493			1,442			3,759		1,089		200			—			6,983
Total equipment financing agreements		77,045			113,529			116,388			97,947		35,311		4,951			—			445,171
YTD gross charge-offs		—			258			1,826			2,453		1,081		131			—			5,749
YTD net charge-offs (recoveries)		—			229			1,634			1,924		600		(40	)		(2	)		4,345

Total loans receivable:
Payment performance
Performing		1,015,282			883,553			856,165			1,400,515		965,361		730,798			428,316			6,279,990
Nonperforming		—			811			1,442			18,200		1,089		4,425			—			25,967
Total loans receivable	$	1,015,282		$	884,364		$	857,607		$	1,418,715	$	966,450	$	735,223		$	428,316		$	6,305,957
YTD gross charge-offs		—			631			1,826			11,400		1,081		629			—			15,567
YTD net charge-offs (recoveries)		(3	)		602			1,629			10,581		600		(96	)		(2	)		13,311

(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)
June 30, 2025
Real estate loans:
Commercial property
Retail	$	1,599	$	—		$	401	$	2,000	$	1,114,540	$	1,116,540
Hospitality		1,021		—			2,003		3,024		818,997		822,021
Office		—		—			10,990		10,990		545,463		556,453
Other		662		—			—		662		1,373,174		1,373,836
Total commercial property loans		3,282		—			13,394		16,676		3,852,174		3,868,850
Construction		—		—			—		—		80,072		80,072
Residential		1,928		2,005			487		4,421		989,448		993,869
Total real estate loans		5,210		2,005			13,881		21,097		4,921,694		4,942,791
Commercial and industrial loans		575		209			—		784		917,211		917,995
Equipment financing agreements		5,895		2,145			4,287		12,327		432,844		445,171
Total loans receivable	$	11,680	$	4,359		$	18,168	$	34,208	$	6,271,749	$	6,305,957

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:


	June 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	$	918	$	255	$	—	$	1,173
Hospitality		1,747		944		—		2,691
Office		10,990		—		—		10,990
Other		—		7		—		7
Total commercial property loans		13,655		1,206		—		14,861
Residential		3,993		—		—		3,993
Total real estate loans		17,648		1,206		—		18,854
Commercial and industrial loans		—		130		—		130
Equipment financing agreements		114		6,869		—		6,983
Total	$	17,762	$	8,205	$	—	$	25,967

	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:


	June 30, 2025		December 31, 2024
	(in thousands)
Nonaccrual loans	$	25,967	$	14,272
Loans past due 90 days and still accruing		—		—
Total nonperforming loans receivable		25,967		14,272
Other real estate owned (“OREO”)		—		117
Total nonperforming assets*	$	25,967	$	14,389

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

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, as of the periods indicated:


	Principal and Interest Deferment
	Amortized Cost Basis		% of Total Class of Loans			Financial Effect
	(in thousands)
Six months ended June 30, 2025
Commercial property loans: Retail	$	13,533		1.2	%	Two loans with three-month principal and interest deferment


	Term Extension
	Amortized Cost Basis		% of Total Class of Loans			Financial Effect
	(in thousands)
Six months ended June 30, 2025
Commercial and industrial loans	$	20,620		2.6	%	One loan with term extension of six years