Loans | Note 3 — Loans Loans Receivable Loans consisted of the following as of the dates indicated: September 30, 2023 December 31, 2022 (in thousands) Real estate loans: Commercial property Retail $ 1,097,650 $ 1,023,608 Hospitality 705,735 646,893 Office 575,319 499,946 Other (1) 1,309,507 1,553,729 Total commercial property loans 3,688,211 3,724,176 Construction 84,804 109,205 Residential (2) 926,326 734,472 Total real estate loans 4,699,341 4,567,853 Commercial and industrial loans (3) 728,792 804,492 Equipment financing agreements 592,652 594,788 Loans receivable 6,020,785 5,967,133 Allowance for credit losses ( 67,313 ) ( 71,523 ) Loans receivable, net $ 5,953,472 $ 5,895,610 (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 $ 2.0 million and $ 2.4 million of home equity loans and lines, and $ 4.2 million and $ 4.6 million of personal loans at September 30, 2023 and December 31, 2022, respectively. (3) At September 30, 2023 and December 31, 2022, Paycheck Protection Program loans were $ 0.2 million and $ 0.9 million, respectively. Accrued interest on loans was $ 17.7 million and $ 16.0 million at September 30, 2023 and December 31, 2022, respectively. At September 30, 2023 and December 31, 2022, loans of $ 2.41 billion and $ 1.99 billion, respectively, were pledged to secure advances from the FHLB. Loans Held for Sale The following is the activity for loans held for sale for the three months ended September 30, 2023 and 2022: Real Estate Commercial and Industrial Total (in thousands) September 30, 2023 Balance at beginning of period $ 5,544 $ 1,749 $ 7,293 Originations and transfers 12,588 13,398 25,986 Sales ( 11,520 ) ( 9,490 ) ( 21,010 ) Principal paydowns and amortization ( 75 ) ( 427 ) ( 502 ) Balance at end of period $ 6,537 $ 5,230 $ 11,767 September 30, 2022 Balance at beginning of period $ 10,976 $ 7,552 $ 18,528 Originations and transfers 23,013 12,198 35,211 Sales ( 27,493 ) ( 16,192 ) ( 43,685 ) Principal paydowns and amortization ( 6 ) ( 4 ) ( 10 ) Balance at end of period $ 6,490 $ 3,554 $ 10,044 Loans held for sale was comprised of $ 11.8 million and $ 8.0 million of the guaranteed portion of SBA 7(a) loans at September 30, 2023 and December 31, 2022, respectively. The following is the activity for loans held for sale for the nine months ended September 30, 2023 and 2022: Real Estate Commercial and Industrial Total (in thousands) September 30, 2023 Balance at beginning of period $ 3,775 $ 4,268 $ 8,043 Originations and transfers 43,468 31,420 74,888 Sales ( 40,630 ) ( 30,022 ) ( 70,652 ) Principal payoffs and amortization ( 76 ) ( 436 ) ( 512 ) Balance at end of period $ 6,537 $ 5,230 $ 11,767 September 30, 2022 Balance at beginning of period $ 6,954 $ 6,388 $ 13,342 Originations and transfers 72,708 39,207 111,915 Sales ( 73,166 ) ( 42,033 ) ( 115,199 ) Principal payoffs and amortization ( 6 ) ( 8 ) ( 14 ) Balance at end of period $ 6,490 $ 3,554 $ 10,044 Allowance for Credit Losses The following table details the information on the allowance for credit losses by portfolio segment as of and for the three months ended September 30, 2023 and 2022: Real Estate Commercial and Industrial Equipment Financing Agreements Total (in thousands) September 30, 2023 Balance at beginning of period $ 43,054 $ 16,028 $ 11,942 71,024 Charge-offs ( 216 ) ( 6,323 ) ( 2,831 ) ( 9,370 ) Recoveries 50 141 301 492 Provision (recovery) for credit losses 948 1,396 2,823 5,167 Ending balance $ 43,836 $ 11,242 $ 12,235 $ 67,313 September 30, 2022 Balance at beginning of period $ 46,112 $ 14,275 $ 12,680 $ 73,067 Charge-offs ( 1,356 ) ( 8 ) ( 716 ) ( 2,080 ) Recoveries 373 228 369 970 Provision (recovery) for credit losses 395 381 ( 1,149 ) ( 373 ) Ending balance $ 45,524 $ 14,876 $ 11,184 $ 71,584 The following table details the information on the allowance for credit losses by portfolio segment as of and for the nine months ended September 30, 2023 and 2022: Real Estate Commercial and Industrial Equipment Financing Agreements Total (in thousands) September 30, 2023 Balance at beginning of period $ 44,026 $ 15,267 $ 12,230 71,523 Charge-offs ( 627 ) ( 6,635 ) ( 7,052 ) ( 14,314 ) Recoveries 180 931 1,131 2,242 Provision (recovery) for credit losses 257 1,679 5,926 7,862 Ending balance $ 43,836 $ 11,242 $ 12,235 $ 67,313 September 30, 2022 Balance at beginning of period $ 48,890 $ 12,418 $ 11,249 $ 72,557 Charge-offs ( 1,886 ) ( 87 ) ( 1,548 ) ( 3,521 ) Recoveries 632 679 1,117 2,428 Provision (recovery) for credit losses ( 2,112 ) 1,866 366 120 Ending balance $ 45,524 $ 14,876 $ 11,184 $ 71,584 The table below illustrates the allowance for credit losses by loan portfolio segment and each loan portfolio segment as a percentage of total loans. September 30, 2023 December 31, 2022 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 $ 10,083 15.0 % $ 1,097,650 18.3 % $ 7,872 11.0 % $ 1,023,608 17.2 % Hospitality 15,083 22.4 705,735 11.7 13,407 18.7 646,893 10.8 Office 2,884 4.3 575,319 9.6 2,293 3.2 499,946 8.4 Other 8,321 12.3 1,309,507 21.7 13,056 18.3 1,553,729 26.0 Total commercial property loans 36,371 54.0 3,688,211 61.3 36,628 51.2 3,724,176 62.4 Construction 2,594 3.9 84,804 1.4 4,022 5.7 109,205 1.8 Residential 4,871 7.2 926,326 15.4 3,376 4.7 734,472 12.4 Total real estate loans 43,836 65.1 4,699,341 78.1 44,026 61.6 4,567,853 76.6 Commercial and industrial loans 11,242 16.7 728,792 12.1 15,267 21.3 804,492 13.4 Equipment financing agreements 12,235 18.2 592,652 9.8 12,230 17.1 594,788 10.0 Total $ 67,313 100.0 % $ 6,020,785 100.0 % $ 71,523 100.0 % $ 5,967,133 100.0 % The following table represents the amortized cost basis of collateral-dependent loans by class of loans as of September 30, 2023 and December 31, 2022, for which repayment is expected to be obtained through the sale of the underlying collateral. September 30, 2023 December 31, 2022 Amortized Cost Amortized Cost (in thousands) Real estate loans: Commercial property Retail $ 1,637 $ 1,930 Hospitality 333 — Office — — Other 22 256 Total commercial property loans 1,992 2,186 Residential 3 508 Total real estate loans 1,995 2,694 Commercial and industrial loans 4,847 — Total $ 6,842 $ 2,694 Loan Quality Indicators As part of the on-going monitoring of the quality of our loans portfolio, we utilize an internal loan grading system to identify credit risk and assign an appropriate grade (from 1 to 8) for each loan in our portfolio. A third-party loan review is performed at least on an annual basis. Additional adjustments are made when determined to be necessary. The loan grade definitions are as follows: Pass and Pass-Watch: Pass and Pass-Watch loans, grades (1-4), are in compliance with the Bank’s credit policy and regulatory requirements, and do not exhibit any potential or defined weaknesses as defined under “Special Mention,” “Substandard” or “Doubtful.” This category is the strongest level of the Bank’s loan grading system. It consists of all performing loans with no identified credit weaknesses. It includes cash and stock/security secured loans or other investment grade loans. Special Mention: A Special Mention loan, grade (5), has potential weaknesses that deserve management’s close attention. If not corrected, these potential weaknesses may result in deterioration of the repayment of the debt and result in a Substandard classification. Loans that have significant actual, not potential, weaknesses are considered more severely classified. Substandard: A Substandard loan, grade (6), has a well-defined weakness that jeopardizes the liquidation of the debt. A loan graded Substandard is not protected by the sound worth and paying capacity of the borrower, or of the value and type of collateral pledged. With a Substandard loan, there is a distinct possibility that the Bank will sustain some loss if the weaknesses or deficiencies are not corrected. Doubtful: A Doubtful loan, grade (7), is one that has critical weaknesses that would make the collection or liquidation of the full amount due improbable. However, there may be pending events which may work to strengthen the loan, and therefore the amount or timing of a possible loss cannot be determined at the current time. Loss: A loan classified as Loss, grade (8), is considered uncollectible and of such little value that their continuance as active bank assets is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset even though partial recovery may be possible in the future. Loans classified as Loss will be charged off in a timely manner. Under regulatory guidance, loans graded special mention or worse are considered criticized loans, and loans graded substandard or worse are considered classified loans. Loans by Vintage Year and Risk Rating Term Loans Amortized Cost Basis by Origination Year (1) 2023 2022 2021 2020 2019 Prior Revolving Total (in thousands) September 30, 2023 Real estate loans: Commercial property Risk Rating ` Pass / Pass-Watch $ 511,148 $ 1,013,414 $ 863,200 $ 578,433 $ 384,562 $ 264,284 $ 26,171 $ 3,641,212 Special Mention 5,194 4,032 10,141 4,328 715 1,556 1,700 27,666 Classified 4,430 977 4,936 5,606 3,384 19,333 Total commercial property 520,772 1,018,423 878,277 582,761 390,883 269,224 27,871 3,688,211 YTD gross charge-offs — — — 411 — 216 — 627 YTD net charge-offs — — — 407 — 46 — 453 Construction Risk Rating Pass / Pass-Watch 38,129 — 18,375 — — — — 56,504 Special Mention — — 28,300 — — — — 28,300 Classified — — — — — — — — Total construction 38,129 — 46,675 — — — — 84,804 YTD gross charge-offs — — — — — — — — YTD net charge-offs — — — — — — — — Residential Risk Rating Pass / Pass-Watch 241,830 381,167 160,856 12,791 221 124,047 4,911 925,823 Special Mention — — — — — — 500 500 Classified — — — — — 3 — 3 Total residential 241,830 381,167 160,856 12,791 221 124,050 5,411 926,326 YTD gross charge-offs — — — — — — — — YTD net charge-offs — — — — — ( 6 ) — ( 6 ) Total real estate loans Risk Rating Pass / Pass-Watch 791,107 1,394,581 1,042,431 591,224 384,783 388,331 31,082 4,623,539 Special Mention 5,194 4,032 38,441 4,328 715 1,556 2,200 56,466 Classified 4,430 977 4,936 — 5,606 3,387 — 19,336 Total real estate loans 800,731 1,399,590 1,085,808 595,552 391,104 393,274 33,282 4,699,341 YTD gross charge-offs — — — 411 — 216 — 627 YTD net charge-offs — — — 407 — 40 — 447 Commercial and industrial loans: Risk Rating Pass / Pass-Watch 142,240 176,815 88,316 33,403 11,156 10,047 240,951 702,928 Special Mention — 16,128 — 104 — 3,775 — 20,007 Classified 378 — — 84 46 210 5,139 5,857 Total commercial and industrial loans 142,618 192,943 88,316 33,591 11,202 14,032 246,090 728,792 YTD gross charge-offs — 17 — — 110 388 6,120 6,635 YTD net charge-offs — 5 ( 5 ) — 107 ( 522 ) 6,119 5,704 Equipment financing agreements: Risk Rating Pass / Pass-Watch 174,377 234,753 115,310 29,380 25,457 5,434 — 584,711 Special Mention — — — — — — — — Classified 329 3,630 2,719 167 830 266 — 7,941 Total equipment financing agreements 174,706 238,383 118,029 29,547 26,287 5,700 — 592,652 YTD gross charge-offs 56 3,030 2,732 294 725 215 — 7,052 YTD net charge-offs 56 2,961 2,455 217 335 ( 103 ) — 5,921 Total loans receivable: Risk Rating Pass / Pass-Watch 1,107,724 1,806,149 1,246,057 654,007 421,396 403,812 272,033 5,911,178 Special Mention 5,194 20,160 38,441 4,432 715 5,331 2,200 76,473 Classified 5,137 4,607 7,655 251 6,482 3,863 5,139 33,134 Total loans receivable $ 1,118,055 $ 1,830,916 $ 1,292,153 $ 658,690 $ 428,593 $ 413,006 $ 279,372 $ 6,020,785 YTD gross charge-offs 56 3,047 2,732 705 835 819 6,120 14,314 YTD net charge-offs 56 2,966 2,450 624 442 ( 585 ) 6,119 12,072 (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) 2022 2021 2020 2019 2018 Prior Revolving Total December 31, 2022 Real estate loans: Commercial property Risk Rating Pass / Pass-Watch $ 1,184,361 $ 901,029 $ 600,740 $ 404,786 $ 301,950 $ 207,861 $ 50,877 $ 3,651,604 Special Mention 847 13,384 5,857 7,115 — 6,080 1,701 34,984 Classified — — 412 4,312 12,304 20,560 — 37,588 Total commercial property 1,185,208 914,413 607,009 416,213 314,254 234,501 52,578 3,724,176 Construction Risk Rating Pass / Pass-Watch 41,662 67,543 — — — — — 109,205 Special Mention — — — — — — — — Classified — — — — — — — — Total construction 41,662 67,543 — — — — — 109,205 Residential Risk Rating Pass / Pass-Watch 405,975 173,236 13,102 232 731 134,766 5,422 733,464 Special Mention — — — — — — 500 500 Classified 12 — — — — 496 — 508 Total residential 405,987 173,236 13,102 232 731 135,262 5,922 734,472 Total real estate loans Risk Rating Pass / Pass-Watch 1,631,998 1,141,808 613,842 405,018 302,681 342,627 56,299 4,494,273 Special Mention 847 13,384 5,857 7,115 — 6,080 2,201 35,484 Classified 12 — 412 4,312 12,304 21,056 — 38,096 Total real estate loans 1,632,857 1,155,192 620,111 416,445 314,985 369,763 58,500 4,567,853 Commercial and industrial loans: Risk Rating Pass / Pass-Watch 368,778 100,537 39,577 24,117 7,342 12,282 205,951 758,584 Special Mention — 9,285 — — 29 102 34,113 43,529 Classified — — 171 1,097 81 391 639 2,379 Total commercial and industrial loans 368,778 109,822 39,748 25,214 7,452 12,775 240,703 804,492 Equipment financing agreements: Risk Rating Pass / Pass-Watch 305,249 165,313 46,970 52,133 17,608 1,798 — 589,071 Special Mention — — — — — — — — Classified 630 2,542 311 1,581 565 88 — 5,717 Total equipment financing agreements 305,879 167,855 47,281 53,714 18,173 1,886 — 594,788 Total loans receivable: Risk Rating Pass / Pass-Watch 2,306,025 1,407,658 700,389 481,268 327,631 356,707 262,250 5,841,928 Special Mention 847 22,669 5,857 7,115 29 6,182 36,314 79,013 Classified 642 2,542 894 6,990 12,950 21,535 639 46,192 Total loans receivable $ 2,307,514 $ 1,432,869 $ 707,140 $ 495,373 $ 340,610 $ 384,424 $ 299,203 $ 5,967,133 (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) 2023 2022 2021 2020 2019 Prior Revolving Total (in thousands) September 30, 2023 Real estate loans: Commercial property Payment performance Performing $ 519,135 $ 1,018,423 $ 878,124 $ 582,761 $ 390,800 $ 268,305 $ 27,871 $ 3,685,419 Nonperforming 1,637 — 153 — 83 919 — 2,792 Total commercial property 520,772 1,018,423 878,277 582,761 390,883 269,224 27,871 3,688,211 YTD gross charge-offs — — — 411 — 216 — 627 YTD net charge-offs — — — 407 — 46 — 453 Construction Payment performance Performing 38,129 — 46,675 — — — — 84,804 Nonperforming — — — — — — — — Total construction 38,129 — 46,675 — — — — 84,804 YTD gross charge-offs — — — — — — — — YTD net charge-offs — — — — — — — — Residential Payment performance Performing 241,830 381,167 160,856 12,791 221 124,047 5,411 926,323 Nonperforming — — — — — 3 — 3 Total residential 241,830 381,167 160,856 12,791 221 124,050 5,411 926,326 YTD gross charge-offs — — — — — — — — YTD net charge-offs — — — — — ( 6 ) — ( 6 ) Total real estate loans Payment performance Performing 799,094 1,399,590 1,085,655 595,552 391,021 392,352 33,282 4,696,546 Nonperforming 1,637 — 153 — 83 922 — 2,795 Total real estate loans 800,731 1,399,590 1,085,808 595,552 391,104 393,274 33,282 4,699,341 YTD gross charge-offs — — — 411 — 216 — 627 YTD net charge-offs — — — 407 — 40 — 447 Commercial and industrial loans: Payment performance Performing 142,618 192,943 88,316 33,507 11,202 13,919 241,241 723,746 Nonperforming — — — 84 — 113 4,849 5,046 Total commercial and industrial loans 142,618 192,943 88,316 33,591 11,202 14,032 246,090 728,792 YTD gross charge-offs — 17 — — 110 388 6,120 6,635 YTD net charge-offs — 5 ( 5 ) — 107 ( 522 ) 6,119 5,704 Equipment financing agreements: Payment performance Performing 174,377 234,753 115,310 29,380 25,456 5,434 — 584,710 Nonperforming 329 3,630 2,719 167 831 266 — 7,942 Total equipment financing agreements 174,706 238,383 118,029 29,547 26,287 5,700 — 592,652 YTD gross charge-offs 56 3,030 2,732 294 725 215 — 7,052 YTD net charge-offs 56 2,961 2,455 217 335 ( 103 ) — 5,921 Total loans receivable: Payment performance Performing 1,116,089 1,827,286 1,289,281 658,439 427,679 411,705 274,523 6,005,002 Nonperforming 1,966 3,630 2,872 251 914 1,301 4,849 15,783 Total loans receivable $ 1,118,055 $ 1,830,916 $ 1,292,153 $ 658,690 $ 428,593 $ 413,006 $ 279,372 $ 6,020,785 YTD gross charge-offs 56 3,047 2,732 705 835 819 6,120 14,314 YTD net charge-offs 56 2,966 2,450 624 442 ( 585 ) 6,119 12,072 (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) 2022 2021 2020 2019 2018 Prior Revolving Total December 31, 2022 Real estate loans: Commercial property Payment performance Performing $ 1,185,208 $ 914,413 $ 606,597 $ 416,213 $ 312,324 $ 233,643 $ 52,578 $ 3,720,976 Nonperforming — — 412 — 1,930 858 — 3,200 Total commercial property 1,185,208 914,413 607,009 416,213 314,254 234,501 52,578 3,724,176 Construction Payment performance Performing 41,662 67,543 — — — — — 109,205 Nonperforming — — — — — — — — Total construction 41,662 67,543 — — — — — 109,205 Residential Payment performance Performing 405,975 173,236 13,102 232 731 134,766 5,922 733,964 Nonperforming 12 — — — — 496 — 508 Total residential 405,987 173,236 13,102 232 731 135,262 5,922 734,472 Total real estate loans Payment performance Performing 1,632,845 1,155,192 619,699 416,445 313,055 368,409 58,500 4,564,145 Nonperforming 12 — 412 — 1,930 1,354 — 3,708 Total real estate loans 1,632,857 1,155,192 620,111 416,445 314,985 369,763 58,500 4,567,853 Commercial and industrial loans: Payment performance Performing 368,778 109,822 39,577 25,199 7,452 12,539 240,703 804,070 Nonperforming — — 171 15 — 236 — 422 Total commercial and industrial loans 368,778 109,822 39,748 25,214 7,452 12,775 240,703 804,492 Equipment financing agreements: Payment performance Performing 305,249 165,313 46,970 52,133 17,608 1,798 — 589,071 Nonperforming 630 2,542 311 1,581 565 88 — 5,717 Total equipment financing agreements 305,879 167,855 47,281 53,714 18,173 1,886 — 594,788 Total loans receivable: Payment performance Performing 2,306,872 1,430,327 706,246 493,777 338,115 382,746 299,203 5,957,286 Nonperforming 642 2,542 894 1,596 2,495 1,678 — 9,847 Total loans receivable $ 2,307,514 $ 1,432,869 $ 707,140 $ 495,373 $ 340,610 $ 384,424 $ 299,203 $ 5,967,133 (1) Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision. The following is an aging analysis of loans, including loans on nonaccrual status, disaggregated by loan class, as of the dates indicated: 30-59 60-89 90 Days Total Current Total (in thousands) September 30, 2023 Real estate loans: Commercial property Retail $ 260 $ — $ — $ 260 $ 1,097,390 $ 1,097,650 Hospitality 153 33 — 186 705,549 705,735 Office — — — — 575,319 575,319 Other 704 — 22 726 1,308,781 1,309,507 Total commercial property loans 1,117 33 22 1,172 3,687,039 3,688,211 Construction — — — — 84,804 84,804 Residential 935 364 3 1,302 925,024 926,326 Total real estate loans 2,052 397 25 2,474 4,696,867 4,699,341 Commercial and industrial loans 384 151 4,849 5,384 723,408 728,792 Equipment financing agreements 6,527 2,195 3,382 12,104 580,548 592,652 Total loans receivable $ 8,963 $ 2,743 $ 8,256 $ 19,962 $ 6,000,823 $ 6,020,785 December 31, 2022 Real estate loans: Commercial property Retail $ — $ — $ — $ — $ 1,023,608 $ 1,023,608 Hospitality — — — — 646,893 646,893 Office — — — — 499,946 499,946 Other — 494 — 494 1,553,235 1,553,729 Total commercial property loans — 494 — 494 3,723,682 3,724,176 Construction — — — — 109,205 109,205 Residential 313 804 7 1,124 733,348 734,472 Total real estate loans 313 1,298 7 1,618 4,566,235 4,567,853 Commercial and industrial loans 77 79 — 156 804,336 804,492 Equipment financing agreements 5,825 1,271 2,949 10,045 584,743 594,788 Total loans receivable $ 6,215 $ 2,648 $ 2,956 $ 11,819 $ 5,955,314 $ 5,967,133 Nonaccrual Loans and Nonperforming Assets The following table represents the amortized cost basis of loans on nonaccrual status and loans past due 90 days and still accruing as of September 30, 2023 and December 31, 2022. September 30, 2023 Nonaccrual Loans Nonaccrual Loans Loans Total (in thousands) Real estate loans: Commercial property Retail $ 1,849 $ 402 $ — $ 2,251 Hospitality 333 186 — 519 Office — — — — Other 22 — — 22 Total commercial property loans 2,204 588 — 2,792 Construction — — — — Residential 3 — — 3 Total real estate loans 2,207 588 — 2,795 Commercial and industrial loans — 5,046 — 5,046 Equipment financing agreements 848 7,094 — 7,942 Total $ 3,055 $ 12,728 $ — $ 15,783 December 31, 2022 Nonaccrual Loans Nonaccrual Loans Loans Total (in thousands) Real estate loans: Commercial property Retail $ 1,929 $ — $ — $ 1,929 Hospitality — — — — Office — — — — Other 540 731 — 1,271 Total commercial property loans 2,469 731 — 3,200 Construction — — — — Residential 508 — — 508 Total real estate loans 2,977 731 — 3,708 Commercial and industrial loans — 422 — 422 Equipment financing agreements 215 5,502 — 5,717 Total $ 3,192 $ 6,655 $ — $ 9,847 The Company recognized $ 26,000 and $ 5,000 of interest income on nonaccrual loans for the three months ended September 30, 2023 and 2022, respectively. Interest income recognized on nonaccrual loans for the nine months ended September 30, 2023 and 2022 was $ 160,000 and $ 40,000 , respectively. The following table details nonperforming assets as of the dates indicated: September 30, 2023 December 31, 2022 (in thousands) Nonaccrual loans $ 15,783 $ 9,847 Loans receivable 90 days or more past due and still accruing — — Total nonperforming loans receivable 15,783 9,847 Other real estate owned ("OREO") 117 117 Total nonperforming assets $ 15,900 $ 9,964 OREO of $ 0.1 million is included in prepaid expenses and other assets in the accompanying Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022. Loan Modifications No loans were modified during the three and nine months ended September 30, 2023 or 2022 . |