GREAT SOUTHERN BANCORP, INC., 10-K filed on 3/6/2026
Annual Report
v3.25.4
Document and Entity Information - USD ($)
 12 Months Ended
Dec. 31, 2025
Mar. 04, 2026
Jun. 30, 2025
Document and Entity Information      
Document Type 10-K    
Document Annual Report true    
Document Period End Date Dec. 31, 2025    
Document Transition Report false    
Entity File Number 0-18082    
Entity Registrant Name GREAT SOUTHERN BANCORP, INC.    
Entity Incorporation, State or Country Code MD    
Entity Tax Identification Number 43-1524856    
Entity Address, Address Line One 1451 E. Battlefield    
Entity Address, City or Town Springfield    
Entity Address, State or Province MO    
Entity Address, Postal Zip Code 65804    
City Area Code 417    
Local Phone Number 887-4400    
Title of 12(b) Security Common Stock, par value $0.01 per share    
Trading Symbol GSBC    
Security Exchange Name NASDAQ    
Well-known Seasoned Issuer No    
Entity Voluntary Filers No    
Entity Current Reporting Status Yes    
Entity Interactive Data Current Yes    
Entity Filer Category Accelerated Filer    
Entity Small Business false    
Entity Emerging Growth Company false    
ICFR Auditor Attestation Flag true    
Document Financial Statement Error Correction [Flag] false    
Entity Shell Company false    
Entity Common Stock, Shares Outstanding   10,963,133  
Entity Public Float     $ 487,536,838
Entity Central Index Key 0000854560    
Current Fiscal Year End Date --12-31    
Document Fiscal Year Focus 2025    
Document Fiscal Period Focus FY    
Amendment Flag false    
Auditor Name Forvis Mazars, LLP    
Auditor Firm ID 686    
Auditor Location Springfield, Missouri    
Documents Incorporated by Reference Portions of the registrant’s proxy statement for its 2025 Annual Meeting of Stockholders are incorporated by reference into Part III of this Form 10-K    
v3.25.4
Consolidated Statements of Financial Condition - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash $ 109,833 $ 109,366
Interest-bearing deposits in other financial institutions 79,721 86,390
Cash and cash equivalents 189,554 195,756
Available-for-sale securities 523,831 533,373
Held-to-maturity securities 179,200 187,433
Mortgage loans held for sale 6,838 6,937
Loans receivable, net of allowance for credit losses of $64,771 and $64,760 at December 31, 2025 and 2024, respectively 4,356,853 4,690,393
Interest receivable 18,068 20,430
Prepaid expenses and other assets 128,615 136,594
Other real estate owned and repossessions, net 6,036 5,993
Premises and equipment, net 133,257 132,466
Goodwill and other intangible assets 9,660 10,094
Federal Home Loan Bank stock and other interest-earning assets 20,079 28,392
Current and deferred income taxes 26,615 33,767
Total assets 5,598,606 5,981,628
Liabilities    
Deposits 4,482,774 4,605,549
Securities sold under reverse repurchase agreements with customers 48,467 64,444
Short-term borrowings and other interest-bearing liabilities 330,928 514,247
Subordinated debentures issued to capital trust 25,774 25,774
Subordinated notes   74,876
Accrued interest payable 3,612 12,761
Advances from borrowers for taxes and insurance 5,781 5,272
Accrued expenses and other liabilities 56,596 70,634
Liability for unfunded commitments 8,548 8,503
Total liabilities 4,962,480 5,382,060
Commitments and Contingencies
Stockholders' Equity    
Serial preferred stock, $.01 par value; authorized 1,000,000 shares; issued and outstanding 2025 and 2024 - -0- shares
Common stock, $.01 par value; authorized 20,000,000 shares; issued and outstanding December 31, 2025 - 11,062,252 shares, December 31, 2024 - 11,723,548 shares 111 117
Additional paid-in capital 54,120 50,336
Retained earnings 614,095 603,477
Accumulated other comprehensive loss, net of income tax credit of $(10,506) and $(17,896) at December 31, 2025 and 2024, respectively (32,200) (54,362)
Total stockholders' equity 636,126 599,568
Total liabilities and stockholders' equity $ 5,598,606 $ 5,981,628
v3.25.4
Consolidated Statements of Financial Condition (Parenthetical) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Consolidated Statements of Financial Condition    
Loans receivable, net of allowance for credit losses $ 64,771 $ 64,760
Serial preferred stock, par value (in dollars per share) $ 0.01 $ 0.01
Serial preferred stock, shares authorized (in shares) 1,000,000 1,000,000
Serial preferred stock, shares issued (in shares) 0 0
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, shares authorized (in shares) 20,000,000 20,000,000
Common stock, shares issued (in shares) 11,062,252 11,723,548
Common stock, shares outstanding (in shares) 11,062,252 11,723,548
Accumulated other comprehensive income (loss), net of income taxes (credit) $ (10,506) $ (17,896)
v3.25.4
Consolidated Statements of Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Interest Income      
Loans $ 285,460 $ 297,176 $ 271,952
Investment securities and other 28,272 27,522 24,883
Total Interest Income 313,732 324,698 296,835
Interest Expense      
Deposits 94,137 109,705 88,757
Securities sold under reverse repurchase agreements 1,160 1,407 1,205
Short-term borrowings, overnight FHLBank borrowings and other interest-bearing liabilities 14,640 18,222 7,500
Subordinated debentures issued to capital trust 1,547 1,798 1,736
Subordinated notes 2,015 4,423 4,422
Total Interest Expense 113,499 135,555 103,620
Net Interest Income 200,233 189,143 193,215
Provision for Credit Losses on Loans   1,700 2,250
Provision (Credit) for Unfunded Commitments 45 1,016 (5,329)
Net Interest Income After Provision for Credit Losses and Provision (Credit) for Unfunded Commitments 200,188 186,427 196,294
Non-interest Income      
Commissions 1,626 1,227 1,153
Overdraft and insufficient funds fees 5,182 5,140 7,617
Point-of-sale and ATM fee income and service charges 13,202 13,586 14,346
Net gain on loan sales 3,272 3,779 2,354
Late charges and fees on loans 1,193 512 786
Loss on derivative interest rate products (62) (58) (337)
Other income 4,639 6,379 4,154
Total Non-interest Income 29,052 30,565 30,073
Non-interest Expense      
Salaries and employee benefits 79,963 78,599 78,521
Net occupancy and equipment expense 35,297 32,118 30,834
Postage 3,565 3,329 3,590
Insurance 4,448 4,622 4,542
Advertising 2,929 3,124 3,396
Office supplies and printing 953 1,008 1,057
Telephone 2,797 2,772 2,730
Legal, audit and other professional fees 4,166 5,399 7,086
Expense (income) on other real estate and repossessions (518) (304) 311
Acquired intangible asset amortization 434 433 286
Other operating expenses 7,909 10,395 8,670
Total Non-interest Expense 141,943 141,495 141,023
Income Before Income Taxes 87,297 75,497 85,344
Provision for Income Taxes 16,324 13,690 17,544
Net Income $ 70,973 $ 61,807 $ 67,800
Earnings Per Common Share      
Basic Earnings Per Common Share (in dollars per share) $ 6.23 $ 5.28 $ 5.65
Diluted Earnings Per Common Share (in dollars per share) $ 6.19 $ 5.26 $ 5.61
v3.25.4
Consolidated Statements of Comprehensive Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Consolidated Statements of Comprehensive Income      
Net Income $ 70,973 $ 61,807 $ 67,800
Unrealized appreciation (depreciation) on available-for-sale securities, net of taxes (credit) of $6,051, $(1,846) and $2,199 for 2025, 2024 and 2023, respectively 18,541 (5,660) 6,738
Unrealized loss on securities transferred to held-to-maturity, net of taxes (credit) of $(63), $(48) and $(45) for 2025, 2024 and 2023, respectively (192) (149) (138)
Amortization of realized loss on termination of cash flow hedge, net of credit of $(1,408), $(1,859) and $(1,855), for 2025, 2024, and 2023, respectively (4,801) (6,286) (6,267)
Change in value of active cash flow hedges, net of taxes of $2,809, $69 and $3,441 for 2025, 2024 and 2023, respectively 8,614 214 10,541
Other comprehensive income (loss) 22,162 (11,881) 10,874
Comprehensive Income $ 93,135 $ 49,926 $ 78,674
v3.25.4
Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Consolidated Statements of Comprehensive Income      
Unrealized appreciation (depreciation) on available-for-sale securities, net of taxes (credit) $ 6,051 $ (1,846) $ 2,199
Unrealized loss on securities transferred to held-to-maturity, net of taxes (credit) (63) (48) (45)
Amortization of realized loss on termination of cash flow hedge, net of credit (1,408) (1,859) (1,855)
Change in value of active cash flow hedges, net of taxes $ 2,809 $ 69 $ 3,441
v3.25.4
Consolidated Statements of Stockholders' Equity - USD ($)
$ in Thousands
Common Stock
Additional Paid-in Capital
Retained Earnings
Cumulative effect adoption
Retained Earnings
Accumulated Other Comprehensive Income (Loss)
Treasury Stock
Cumulative effect adoption
Total
Balance at beginning of period at Dec. 31, 2022 $ 122 $ 42,445   $ 543,875 $ (53,355)     $ 533,087
Net income       67,800       67,800
Stock issued under Stock Option Plan   1,875       $ 630   2,505
Common cash dividends declared [1]       (19,111)       (19,111)
Repurchase of the Company's common stock           (23,326)   (23,326)
Other comprehensive income (loss)         10,874     10,874
Reclassification of treasury stock per Maryland law (4)     (22,692)   22,696    
Balance at ending of period at Dec. 31, 2023 118 44,320   569,872 (42,481)     571,829
Net income       61,807       61,807
Stock issued under Stock Option Plan   6,016       5,850   11,866
Common cash dividends declared [2]       (18,678)       (18,678)
Repurchase of the Company's common stock           (15,152)   (15,152)
Other comprehensive income (loss)         (11,881)     (11,881)
Reclassification of treasury stock per Maryland law (1)     (9,301)   9,302    
Balance at ending of period (Accounting Standards Update 2023-02) at Dec. 31, 2024     $ (223)       $ (223)  
Balance at ending of period at Dec. 31, 2024 117 50,336   603,477 (54,362)     599,568
Net income       70,973       70,973
Stock issued under Stock Option Plan   3,784       2,893   6,677
Common cash dividends declared [3]       (18,793)       (18,793)
Repurchase of the Company's common stock           (44,461)   (44,461)
Other comprehensive income (loss)         22,162     22,162
Reclassification of treasury stock per Maryland law (6)     (41,562)   $ 41,568    
Balance at ending of period at Dec. 31, 2025 $ 111 $ 54,120   $ 614,095 $ (32,200)     $ 636,126
[1] $1.60 per share total dividends.
[2] $1.60 per share total dividends.
[3] $1.66 per share total dividends.
v3.25.4
Consolidated Statements of Stockholders' Equity (Parenthetical) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Consolidated Statements of Stockholders' Equity      
Per share total dividends $ 1.66 $ 1.6 $ 1.6
v3.25.4
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Operating Activities      
Net income $ 70,973,000 $ 61,807,000 $ 67,800,000
Proceeds from sales of loans held for sale 152,781,000 174,759,000 157,213,000
Originations of loans held for sale (148,967,000) (171,757,000) (155,995,000)
Items not requiring (providing) cash      
Depreciation 8,109,000 8,238,000 8,723,000
Amortization 402,000 712,000 589,000
Compensation expense for stock option grants 1,857,000 1,770,000 1,621,000
Provision for credit losses 0 1,700,000 2,250,000
Provision (credit) for unfunded commitments 45,000 1,016,000 (5,329,000)
Net gain on loan sales (3,272,000) (3,779,000) (2,354,000)
Loss (gain) on sale of premises and equipment 207,000 (43,000) 26,000
Loss (gain) on sale/write-down of other real estate and repossessions 4,000 (496,000) 39,000
Accretion of deferred income, premiums, discounts and other (12,846,000) (14,337,000) (13,774,000)
Loss on derivative interest rate products 62,000 58,000 337,000
Net non-cash gain recorded on contract termination 0 (2,762,000) 0
Deferred income taxes (1,315,000) 457,000 2,985,000
Changes in      
Interest receivable 2,362,000 776,000 (2,099,000)
Prepaid expenses and other assets 5,578,000 (178,000) (4,543,000)
Accrued expenses and other liabilities 4,463,000 (12,847,000) 23,470,000
Income taxes refundable/payable 1,078,000 (1,030,000) (259,000)
Net cash provided by operating activities 81,521,000 44,064,000 80,700,000
Investing Activities      
Net change in loans 336,908,000 (78,098,000) (79,096,000)
Purchase of loans 0 (26,251,000) (400,000)
Purchase of premises and equipment (11,465,000) (4,924,000) (7,300,000)
Proceeds from sale of premises and equipment 129,000 164,000 254,000
Proceeds from sale of other real estate and repossessions 208,000 1,706,000 313,000
Proceeds from repayments of held-to-maturity securities 7,968,000 7,318,000 7,228,000
Proceeds from maturities, calls and repayments of available-for-sale securities 45,594,000 31,470,000 26,888,000
Purchase of available-for-sale securities (8,903,000) (92,631,000) (5,436,000)
Investment in tax credit partnerships (11,572,000) (12,069,000) (35,160,000)
Redemption (purchase) of Federal Home Loan Bank stock and other interest-earning assets 8,313,000 (2,079,000) 4,501,000
Net cash provided by (used in) investing activities 367,180,000 (175,394,000) (88,208,000)
Financing Activities      
Net decrease in certificates of deposit (87,332,000) (172,430,000) (73,095,000)
Net increase (decrease) in checking and savings accounts 73,244,000 (54,315,000) (140,144,000)
Net increase (decrease) in brokered deposits (108,663,000) 110,698,000 249,901,000
Net increase (decrease) in short-term borrowings and other interest-bearing liabilities (19,296,000) 75,238,000 57,027,000
Proceeds from borrowing under Federal Reserve Bank Term Funding Program 0 180,000,000 0
Repayment of borrowing under Federal Reserve Bank Term Funding Program (180,000,000) 0 0
Redemption of subordinated notes (75,000,000) 0 0
Advances from (to) borrowers for taxes and insurance 509,000 326,000 (1,644,000)
Repurchase of the Company's common stock (44,461,000) (15,152,000) (23,326,000)
Dividends paid (18,724,000) (18,708,000) (19,282,000)
Stock options exercised 4,820,000 10,096,000 884,000
Net cash provided by (used in) financing activities (454,903,000) 115,753,000 50,321,000
Increase (Decrease) in Cash and Cash Equivalents (6,202,000) (15,577,000) 42,813,000
Cash and Cash Equivalents, Beginning of Year 195,756,000 211,333,000 168,520,000
Cash and Cash Equivalents, End of Year $ 189,554,000 $ 195,756,000 $ 211,333,000
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies
 12 Months Ended
Dec. 31, 2025
Nature of Operations and Summary of Significant Accounting Policies  
Nature of Operations and Summary of Significant Accounting Policies

Note 1:      Nature of Operations and Summary of Significant Accounting Policies

Nature of Operations and Operating Segments

Great Southern Bancorp, Inc. (“GSBC” or the “Company”) operates as a one-bank holding company. GSBC’s business primarily consists of the operations of Great Southern Bank (the “Bank”), which provides a full range of financial services to customers primarily located in Missouri, Iowa, Kansas, Minnesota, Nebraska and Arkansas. The Bank also originates commercial loans from lending offices in Atlanta; Charlotte, North Carolina; Chicago; Dallas; Denver; Omaha, Nebraska; and Phoenix. The Company and the Bank are subject to regulation by certain federal and state agencies and undergo periodic examinations by those regulatory agencies.

The Company’s banking operation is its only reportable segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. Selected information is not presented separately for the Company’s reportable segment, as there is no material difference between that information and the corresponding information in the consolidated financial statements.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and fair values of financial instruments. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets held for sale, management obtains independent appraisals for significant properties. In addition, the Company considers that the determination of the carrying value of goodwill and intangible assets involves a high degree of judgment and complexity.

Principles of Consolidation

The consolidated financial statements include the accounts of Great Southern Bancorp, Inc., its wholly owned subsidiary, the Bank, and the Bank’s wholly owned subsidiaries, Great Southern Real Estate Development Corporation, GSB One LLC (including its wholly owned subsidiary, GSB Two LLC), Great Southern Community Development Company, LLC (including its wholly owned subsidiary, Great Southern CDE, LLC), GS, LLC, GSSC, LLC, GSTC Investments, LLC, GS-RE Holding, LLC (including its wholly owned subsidiary, GS RE Management, LLC), GS-RE Holding II, LLC, and GS-RE Holding III, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation.

Federal Home Loan Bank Stock

Federal Home Loan Bank common stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in common stock is based on a predetermined formula, carried at cost and evaluated for impairment.

Securities

Available-for-sale securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Unrealized gains and losses are recorded, net of related income tax effects, in other comprehensive income.

Held-to-maturity securities, which include any security for which the Company has the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts.

Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains and losses on sales of securities are determined on the specific-identification method.

The Company evaluates all securities quarterly to determine if any securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments. The Company’s consolidated statements of income reflect the full impairment (that is, the difference between the security’s amortized cost basis and fair value) on debt securities that the Company intends to sell or would more likely than not be required to sell before the expected recovery of the amortized cost basis. For available-for-sale and held-to-maturity debt securities that management has no intent to sell and believes that it more likely than not will not be required to sell prior to recovery, only the credit loss component of the impairment is recognized in earnings, while the noncredit loss is recognized in accumulated other comprehensive income for available-for-sale securities. The credit loss component recognized in earnings through a provision for credit loss is identified as the amount of principal cash flows not expected to be received over the remaining term of the security based on cash flow projections.

Mortgage Loans Held for Sale

Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Write-downs to fair value are recognized as a charge to earnings at the time the decline in value occurs. Nonbinding forward commitments to sell individual mortgage loans are generally obtained to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Fees received from borrowers to guarantee the funding of mortgage loans held for sale and fees paid to investors to ensure the ultimate sale of such mortgage loans are recognized as income or expense when the loans are sold or when it becomes evident that the commitment will not be used.

Loans Originated by the Company

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for credit losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. Past due status is based on the contractual terms of a loan. Generally, loans are placed on nonaccrual status at 90 days past due and interest is considered a loss, unless the loan is well secured and in the process of collection. Payments received on nonaccrual loans are applied to principal until the loans are returned to accrual status. Loans are returned to accrual status when all payments contractually due are brought current, payment performance is sustained for a period of time, generally six months, and future payments are reasonably assured. With the exception of consumer loans, charge-offs on loans are recorded when available information indicates a loan is not fully collectible and the loss is reasonably quantifiable. Consumer loans are charged-off at specified delinquency dates consistent with regulatory guidelines.

Allowance for Credit Losses

The allowance for credit losses is measured using an average historical loss model that incorporates relevant information about past events (including historical credit loss experience on loans with similar risk characteristics), current conditions, and reasonable and supportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the loans. The allowance for credit losses is measured on a collective (pool) basis. Loans are aggregated into pools based on similar risk characteristics, including borrower type, collateral and repayment types and expected credit loss patterns. Loans that do not share similar risk characteristics, primarily classified loans with balances greater than or equal to $100,000, are evaluated on an individual basis.

For loans evaluated for credit losses on a collective basis, average historical loss rates are calculated for each pool using the Company’s historical net charge-offs (combined charge-offs and recoveries by observable historical reporting period) and outstanding loan balances during a lookback period. Lookback periods can be different based on the individual pool and represent management’s credit expectations for the pool of loans over the remaining contractual life. In certain loan pools, if the Company’s own historical loss rate is not reflective of the loss expectations, the historical loss rate is augmented by industry and peer data. The calculated average net charge-off rate is then adjusted for current conditions and reasonable and supportable forecasts. These adjustments increase or decrease the average historical loss rate to reflect expectations of future losses given economic forecasts of key macroeconomic variables including, but not limited to, unemployment rate, gross domestic product (“GDP”), commercial real estate price index, consumer sentiment and construction spending. The adjustments are based on results from various regression models projecting the

impact of the macroeconomic variables to loss rates. The forecast is used for a reasonable and supportable period before reverting to historical averages. The forecast-adjusted loss rate is applied to the principal balance over the remaining contractual lives, adjusted for expected prepayments. The contractual term excludes expected extensions, renewals and modifications. Additionally, the allowance for credit losses considers other qualitative factors not included in historical loss rates or macroeconomic forecasts such as changes in portfolio composition, underwriting practices, or significant unique events or conditions.

In addition, the Company is required to record an allowance for off balance sheet credit exposures, including unfunded lines of credit, undisbursed portions of loans, written residential and commercial loan commitments, and letters of credit. To determine the amount needed for allowance purposes, a utilization rate is determined either by the model or internally for each pool. Our loss model calculates the reserve on unfunded commitments based upon the utilization rate multiplied by the average loss rate factors in each pool with unfunded and committed balances. The liability for unfunded lending commitments utilizes the same model as the allowance for credit losses on loans; however, the liability for unfunded lending commitments incorporates assumptions for the portion of unfunded commitments that are expected to be funded.

Loans Acquired in Business Combinations

Loans acquired in business combinations under ASC Topic 805, Business Combinations, required the use of the acquisition method of accounting. Therefore, such loans were initially recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820, Fair Value Measurements and Disclosures. The Company’s historical acquisitions all occurred under previous US GAAP prior to the Company’s adoption of ASU 2016-13. No allowance for credit losses related to the acquired loans was recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820. The fair value estimates associated with the loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows.

For acquired loans not acquired in conjunction with an FDIC-assisted transaction that were not considered to be purchased credit-impaired loans, the Company evaluated those loans acquired in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs. The fair value discount on these loans is accreted into interest income over the weighted average life of the loans using a constant yield method. These loans are not considered impaired loans. The Company’s historical acquisitions all occurred under previous US GAAP prior to the Company’s adoption of ASU 2016-13. The Company evaluated purchased credit-impaired loans in accordance with the provisions of ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. Loans acquired in business combinations with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected were considered to be credit impaired. Evidence of credit quality deterioration as of the purchase dates may include information such as past-due and nonaccrual status, borrower credit scores and recent loan to value percentages. Acquired credit-impaired loans that are accounted for under the accounting guidance for loans acquired with deteriorated credit quality are initially measured at fair value, which includes estimated future credit losses expected to be incurred over the life of the loans. At the date of CECL adoption, the Company did not reassess whether purchased credit impaired (PCI) loans met the criteria of purchased with credit deterioration (PCD) loans.

The Company evaluated all of its loans acquired in conjunction with its FDIC-assisted transactions in accordance with the provisions of ASC Topic 310-30. For purposes of applying ASC 310-30, loans acquired in FDIC-assisted business combinations are aggregated into pools of loans with common risk characteristics. All loans acquired in the FDIC transactions, both covered and not covered by loss sharing agreements, were deemed to be purchased credit-impaired loans as there is general evidence of credit deterioration since origination in the pools and there is some probability that not all contractually required payments will be collected. As a result, related discounts are recognized subsequently through accretion based on changes in the expected cash flows of these acquired loans.

Prior to the adoption of ASU 2016-13, the expected cash flows of the acquired loan pools in excess of the fair values recorded, referred to as the accretable yield, was recognized in interest income over the remaining estimated lives of the loan pools for impaired loans accounted for under ASC Topic 310-30. Subsequent to acquisition date, the Company estimated cash flows expected to be collected on pools of loans sharing common risk characteristics, which are treated in the aggregate when applying various valuation techniques. Increases in the Company’s cash flow expectations have been recognized as increases to the accretable yield while decreases have been recognized as impairments through the allowance for credit losses.

Other Real Estate Owned and Repossessions

Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less estimated cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net expense on foreclosed assets. Other real estate owned also includes bank premises formerly, but no longer, used for banking activities, as well as property originally acquired for future expansion but no longer intended to be used for that purpose.

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets. Leasehold improvements are capitalized and amortized using the straight-line and accelerated methods over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter.

Material lease obligations consist of leases for various loan offices and banking centers. All of our leases are classified as operating leases (as they were prior to January 1, 2019), and therefore were previously not recognized on the Company’s consolidated statements of financial condition. With the adoption of ASU 2016-02, these operating leases are now included as a right of use asset in the premises and equipment line item on the Company’s consolidated statements of financial condition. The corresponding lease liability is included in the accrued expenses and other liabilities line item on the Company’s consolidated statements of financial condition.

The calculated amounts of the right of use assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew for an extended term in the calculation of the right of use asset and lease liability. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the right of use asset and lease liability. Regarding the discount rate, the Company uses the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception over a similar term. The discount rate utilized is the FHLBank borrowing rate for the term corresponding to the expected term of the lease.

Long-Lived Asset Impairment

The Company evaluates the recoverability of the carrying value of long-lived assets whenever events or circumstances indicate the carrying amount may not be recoverable. If a long-lived asset is tested for recoverability and the undiscounted estimated future cash flows expected to result from the use and eventual disposition of the asset is less than the carrying amount of the asset, the asset cost is adjusted to fair value and an impairment loss is recognized as the amount by which the carrying amount of a long-lived asset exceeds its fair value.

No material asset impairment was recognized during the years ended December 31, 2025, 2024 and 2023.

Goodwill and Intangible Assets

Goodwill is evaluated annually for impairment or more frequently if impairment indicators are present. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount and an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company still may perform a qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary.

Arena naming rights intangible assets are being amortized on the straight-line basis generally over a period of fifteen years. Such assets are periodically evaluated as to the recoverability of their carrying value.

A summary of goodwill and intangible assets is as follows:

​

​

​

​

​

​

​

​

​

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

 

(In Thousands)

​

​

​

​

​

​

​

Goodwill – Branch acquisitions

​

$

5,396

​

$

5,396

Arena Naming Rights (April 2022)

​

 

4,264

​

 

4,698

​

​

$

9,660

​

$

10,094

​

Loan Servicing and Origination Fee Income

Loan servicing income represents fees earned for servicing real estate mortgage loans owned by various investors. The fees are generally calculated on the outstanding principal balances of the loans serviced and are recorded as income when earned. Loan origination fees, net of direct loan origination costs, are recognized as income using the level-yield method over the contractual life of the loan.

Stockholders’ Equity

The Company is incorporated in the State of Maryland. Under Maryland law, there is no concept of “Treasury Shares.” Instead, shares purchased by the Company constitute authorized but unissued shares under Maryland law. Accounting principles generally accepted in the United States of America state that accounting for treasury stock shall conform to state law. The cost of shares purchased by the Company has been allocated to common stock and retained earnings balances.

Earnings Per Common Share

Basic earnings per common share are computed based on the weighted average number of common shares outstanding during each year. Diluted earnings per common share are computed using the weighted average common shares and all potential dilutive common shares outstanding during the year.

Earnings per common share (EPS) were computed as follows:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

Net income and net income available to common shareholders

​

$

70,973

​

$

61,807

​

$

67,800

​

​

​

​

​

​

​

​

​

​

Average common shares outstanding

​

 

11,397

​

 

11,695

​

 

11,992

​

​

​

​

​

​

​

​

​

​

Average common share stock options outstanding

​

 

60

​

 

60

​

 

88

​

​

​

​

​

​

​

​

​

​

Average diluted common shares

​

 

11,457

​

 

11,755

​

 

12,080

​

​

​

​

​

​

​

​

​

​

Earnings per common share – basic

​

$

6.23

​

$

5.28

​

$

5.65

​

​

​

​

​

​

​

​

​

​

Earnings per common share – diluted

​

$

6.19

​

$

5.26

​

$

5.61

​

Options outstanding at December 31, 2025, 2024 and 2023, to purchase 783,955, 861,661 and 749,833 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the years because the exercise prices of such options were greater than the average market prices of the common stock for the years ended December 31, 2025, 2024 and 2023, respectively.

Stock Compensation Plans

The Company has stock-based employee compensation plans, which are described more fully in Note 19. In accordance with FASB ASC 718, Compensation – Stock Compensation, compensation cost related to share-based payment transactions is recognized in the Company’s consolidated financial statements based on the grant-date fair value of the award using the modified prospective transition method. For the years ended December 31, 2025, 2024 and 2023, share-based compensation expense totaling $1.9 million, $1.8 million and $1.6 million, respectively, was included in salaries and employee benefits expense in the consolidated statements of income.

Cash Equivalents

The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2025 and 2024, cash equivalents consisted of interest-bearing deposits in other financial institutions. At December 31, 2025, nearly all of the interest-bearing deposits were uninsured and held at the Federal Home Loan Bank or the Federal Reserve Bank.

Income Taxes

The Company accounts for income taxes in accordance with income tax accounting guidance (FASB ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur.

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term “more likely than not” means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. At December 31, 2025 and 2024, no valuation allowance was established.

The Company recognizes interest and penalties on income taxes as a component of income tax expense.

The Company files consolidated income tax returns with its subsidiaries.

Derivatives and Hedging Activities

FASB ASC 815, Derivatives and Hedging, provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. For detailed disclosures on derivatives and hedging activities, see Note 15.

As required by FASB ASC 815, the Company records all derivatives in the statement of financial condition at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected

to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting.

Recent Accounting Pronouncements

In March 2023, the FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. ASU 2023-02 is intended to improve the accounting and disclosures for investments in tax credit structures. ASU 2023-02 allows entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. Previously, this method was only available for qualifying tax equity investments in low-income housing tax credit structures. Currently, the Company does not have a material amount of tax credit structures, other than low-income housing tax credit structures. The adoption of ASU 2023-02 did not have a material impact on the Company’s consolidated financial statements and resulted in a reduction of retained earnings of $223,000 upon adoption on January 1, 2024.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 expands reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. ASU 2023-07 implements a new requirement to disclose significant segment expenses regularly provided to the chief operating decision maker, expands certain annual disclosures to interim periods, clarifies that single reportable segment entities must apply Topic 280 in its entirety and permits more than one measure of segment profit or loss to be reported under certain conditions. ASU 2023-07 became effective for the Company for our annual financial statements in 2024. See Note 26 – Operating Segments for application of this ASU.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is focused on additional income tax disclosures and requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 became effective for the Company beginning with the fiscal year ending December 31, 2025 and did not have a material impact on the Company’s consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for us, on a prospective basis, for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, although early adoption and retrospective application is permitted. ASU 2024-03 is currently not expected to have a material impact on the Company’s consolidated financial statements, but will impact disclosures.

In November 2025, the FASB issued ASU No. 2025-08, Financial Instruments – Credit Losses (Topic 326): Purchased Loans. ASU 2025-08 expands the scope of the “gross-up” method, formerly applicable only to purchased credit-deteriorated (PCD) assets, to include acquired non-PCD loans that meet certain criteria, now referred to as “purchased seasoned loans” (PSLs). Under this ASU, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit-loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (1) through a business combination, or (2) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 is effective for us, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted. ASU 2025-08 is not expected to have a significant impact on the Company’s consolidated financial statements.

In November 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. ASU 2025-09 amends ASC 815 to align hedge accounting more closely with an entity’s economic risk management practices. Key amendments (1) allow designating a variable price component of a nonfinancial forecasted purchase or sale as the hedged risk, (2) allow grouping individual forecasted transactions with similar (not identical) risk exposures, (3) include a new model for hedging forecasted interest on variable-rate debt, enabling changes in index or tenor without dedesignation, subject to simplifying assumptions, and (4) provide additional clarifications related to hedge accounting of nonfinancial components, net written options, and dual-hedge strategies. ASU 2025-09 is effective for us beginning in 2027, though early adoption is permitted. ASU 2025-09 is not expected to have a significant impact on the Company’s consolidated financial statements.

In November 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic270): Narrow-Scope Improvements. ASU 2025-11 clarifies and enhances guidance under ASC 270 on interim financial reporting by (1) clarifying the scope of ASC 270 such that it now explicitly applies only to entities that issue complete interim financial statements and related notes under U.S. GAAP, (2) establishing clear guidance on the form of interim statements and notes, incorporating a comprehensive list of required interim disclosures, and (3) introducing a requirement to disclose material events and changes occurring after the end of the last annual period that could impact interim results. ASU 2025-11 is effective for us for interim periods beginning in 2028, though early adoption is permitted. ASU 2025-11 is not expected to have a significant impact on the Company’s consolidated financial statements.

Reclassifications

Certain prior‑year amounts have been reclassified to conform to the current‑year presentation. These reclassifications had no effect on previously reported net income, stockholders’ equity, or cash flows.
v3.25.4
Investment Securities
 12 Months Ended
Dec. 31, 2025
Investment Securities  
Investment Securities

Note 2:      Investment Securities

Available-for-sale securities (“AFS”), which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Realized gains and losses, based on the specifically identified amortized cost of the individual security, are included in non-interest income. Unrealized gains and losses are recorded, net of related income tax effects, in stockholders’ equity. Premiums and discounts are amortized and accreted, respectively, to interest income over the estimated life of the security. Prepayments are anticipated for certain mortgage-backed and Small Business Administration (SBA) securities. Premiums on callable securities are amortized to their earliest call date.

Held-to-maturity securities (“HTM”), which include any security for which the Company has both the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts. Premiums and discounts are amortized and accreted, respectively, to interest income over the security’s estimated life. Prepayments are anticipated for certain mortgage-backed securities. Premiums on callable securities are amortized to their earliest call date.

During the three months ended March 31, 2022, the Company transferred, at fair value, $226.5 million of securities from the available-for-sale portfolio to the held-to-maturity portfolio. The related net unrealized gross gains were $1.0 million; $775,000 (net of income taxes) remained in accumulated other comprehensive income and are being amortized over the remaining life of the securities. No gains or losses on these securities were recognized at the time of transfer. As of December 31, 2025, the net unrealized gross losses remaining were $517,000; net of income taxes, these unrealized losses were $390,000.

​

The amortized cost and fair values of securities were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

325,618

​

$

805

​

$

25,174

​

$

301,249

Agency collateralized mortgage obligations

​

​

120,465

​

​

933

​

​

6,065

​

​

115,333

States and political subdivisions securities

​

​

53,347

​

​

89

​

​

2,038

​

​

51,398

Small Business Administration securities

​

​

61,000

​

​

14

​

​

5,163

​

​

55,851

​

​

$

560,430

​

$

1,841

​

$

38,440

​

$

523,831

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2025

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Amortized

  ​ ​ ​

Gross

  ​ ​ ​

Gross

  ​ ​ ​

​

​

​

​

Amortized

​

Fair Value

​

Carrying

​

Unrealized

​

Unrealized

​

Fair

​

​

Cost

​

Adjustment

​

Value

​

Gains

​

Losses

​

Value

​

​

(In Thousands)

HELD-TO-MATURITY SECURITIES:

​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

Agency mortgage-backed securities

​

$

69,713

​

$

1,313

​

$

71,026

​

$

—

​

$

5,694

​

$

65,332

Agency collateralized mortgage obligations

​

 

103,918

​

​

(1,857)

​

​

102,061

​

​

—

​

​

10,424

​

​

91,637

States and political subdivisions securities

​

 

6,086

​

​

27

​

​

6,113

​

​

—

​

​

453

​

​

5,660

​

​

$

179,717

​

$

(517)

​

$

179,200

​

$

—

​

$

16,571

​

$

162,629

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

 

$

346,712

​

$

69

​

$

40,874

​

$

305,907

Agency collateralized mortgage obligations

​

 

123,395

​

​

—

​

​

9,771

​

​

113,624

States and political subdivisions securities

​

 

58,608

​

​

69

​

​

2,729

​

​

55,948

Small Business Administration securities

​

 

65,849

​

​

—

​

​

7,955

​

​

57,894

​

 

$

594,564

​

$

138

​

$

61,329

​

$

533,373

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

​

​

​

Amortized

​

Gross

​

Gross

​

​

 

​

​

Amortized

​

Fair Value

​

Carrying

​

Unrealized

​

Unrealized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Adjustment

  ​ ​ ​

Value

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

 

(In Thousands)

HELD-TO-MATURITY SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

 

$

71,065

 

$

1,864

 

$

72,929

 

$

—

 

$

8,523

 

$

64,406

Agency collateralized mortgage obligations

​

​

110,493

​

​

(2,140)

​

​

108,353

​

​

—

​

​

15,495

​

​

92,858

States and political subdivisions securities

​

​

6,137

​

​

14

​

​

6,151

​

​

—

​

​

650

​

​

5,501

​

 

$

187,695

​

$

(262)

​

$

187,433

​

$

—

​

$

24,668

​

$

162,765

​

At December 31, 2025, the Company’s available-for-sale agency mortgage-backed securities portfolio consisted of FNMA securities totaling $197.4 million, FHLMC securities totaling $101.3 million and GNMA securities totaling $2.5 million. At December 31, 2024, available-for-sale agency mortgage-backed securities portfolio consisted of FNMA securities totaling $205.6 million, FHLMC securities totaling $98.5 million and GNMA securities totaling $1.8 million. At December 31, 2025 and 2024, all of the Company’s available - for - sale agency mortgage-backed securities totaled $301.2 million and $305.9 million, respectively, and had fixed rates of interest.

At December 31, 2025, the Company’s available-for-sale agency collateralized mortgage-backed securities portfolio consisted of FNMA securities totaling $48.9 million, FHLMC securities totaling $62.3 million and GNMA securities totaling $4.1 million. At December 31, 2024, available-for-sale agency collateralized mortgage-backed obligations portfolio consisted of FNMA securities totaling $46.0 million, FHLMC securities totaling $63.0 million and GNMA securities totaling $4.6 million. At December 31, 2025 and 2024, all of the Company’s available - for - sale agency collateralized mortgage-backed obligations totaled $115.3 million and $113.6 million, respectively, and had fixed rates of interest.

The amortized cost and fair value of available-for-sale and held-to-maturity securities at December 31, 2025, by contractual maturity, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay obligations with or without call or prepayment penalties.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Available-for-Sale

​

Held-to-Maturity

​

​

Amortized

​

Fair

​

Amortized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Value

  ​ ​ ​

Carrying Value

  ​ ​ ​

Value

​

 

(In Thousands)

One year or less

​

$

—

​

$

—

​

$

—

​

$

—

After one through two years

​

​

—

​

​

—

​

​

—

​

​

—

After two through three years

​

​

1,020

​

​

1,030

​

​

—

​

​

—

After three through four years

​

​

—

​

​

—

​

​

—

​

​

—

After four through five years

​

​

—

​

​

—

​

​

—

​

​

—

After five through fifteen years

​

 

23,285

​

​

22,656

​

​

5,608

​

​

5,223

After fifteen years

​

 

29,042

​

​

27,712

​

​

505

​

​

437

Securities not due on a single maturity date

​

 

507,083

​

​

472,433

​

​

173,087

​

​

156,969

​

​

$

560,430

​

$

523,831

​

$

179,200

​

$

162,629

​

The amortized cost and fair values of securities pledged as collateral were as follows at December 31, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025

​

2024

​

​

Amortized

​

Fair

​

Amortized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Value

  ​ ​ ​

Cost

  ​ ​ ​

Value

​

 

(In Thousands)

Public deposits

​

$

12,826

​

$

11,368

​

$

13,880

​

$

11,801

Collateralized borrowing accounts

​

 

64,712

​

​

59,082

​

 

86,561

​

​

76,871

FHLBank borrowing account

​

​

270,691

​

​

255,031

​

​

91,900

​

​

90,544

Federal Reserve Bank’s Bank Term Funding Program

​

​

—

​

​

—

​

​

186,836

​

​

161,620

Other

​

 

—

​

​

—

​

 

3,572

​

​

3,270

​

​

$

348,229

​

$

325,481

​

$

382,749

​

$

344,106

​

Available-for-sale investments in debt securities are reported in the financial statements at their fair value, which was $523.8 million and $533.4 million at December 31, 2025 and 2024, respectively. Total fair value of these investments for which the amortized cost exceeded the fair value at December 31, 2025 and 2024, was $409.0 million and $523.9 million, respectively, which is approximately 78.1% and 98.2%, respectively, of the Company’s available-for-sale investment portfolio. A high percentage of the unrealized losses were related to the Company’s mortgage-backed securities, collateralized mortgage obligations and Small Business Administration (SBA) securities, which are issued and guaranteed by U.S. government-sponsored entities and agencies. The Company’s state and political subdivisions securities are investments in insured fixed rate municipal bonds for which the issuers continue to make timely principal and interest payments under the contractual terms of the securities. Held-to-maturity investments in debt securities are reported in the financial statements at their amortized cost, which was $179.2 million and $187.4 million at December 31, 2025 and 2024, respectively. Total fair value of these investments at December 31, 2025 and 2024 was approximately $162.6 million and $162.8 million, respectively. Total fair value of these investments for which the amortized cost exceeded the fair value at December 31, 2025 and 2024, was $162.6 million and $162.8 million, which is 100.0% of the Company’s held-to-maturity investment portfolio.

Held -to-maturity investment securities are evaluated for potential losses under ASU 2016-13. The Company continually assesses its liquidity sources, both on-balance sheet and off-balance sheet, and believes that at December 31, 2025, it had ample liquidity sources to fund its ongoing operations without selling investment securities in its portfolio.

Based on evaluation of available evidence, including recent changes in market interest rates, credit rating information and information obtained from regulatory filings, management believes the declines in fair value for the Company’s available-for-sale debt securities are not credit related.

The following table shows the Company’s gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position at December 31, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025

​

​

Less than 12 Months

​

12 Months or More

​

Total

​

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

Description of Securities

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

—

​

$

—

​

$

241,503

​

$

(25,174)

​

$

241,503

​

$

(25,174)

Agency collateralized mortgage obligations

​

 

—

​

​

—

​

​

70,774

​

​

(6,065)

​

​

70,774

​

​

(6,065)

Small Business Administration securities

​

 

—

​

​

—

​

​

48,807

​

​

(5,163)

​

​

48,807

​

​

(5,163)

States and political subdivisions securities

​

 

4,409

​

​

(109)

​

​

43,528

​

​

(1,929)

​

​

47,937

​

​

(2,038)

​

​

$

4,409

​

$

(109)

​

$

404,612

​

$

(38,331)

​

$

409,021

​

$

(38,440)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HELD-TO-MATURITY SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

—

​

$

—

​

$

65,332

​

$

(5,694)

​

$

65,332

​

$

(5,694)

Agency collateralized mortgage obligations

​

​

—

​

​

—

​

​

91,637

​

​

(10,424)

​

​

91,637

​

​

(10,424)

States and political subdivisions securities

​

​

—

​

​

—

​

​

5,660

​

​

(453)

​

​

5,660

​

​

(453)

​

​

$

—

​

$

—

​

$

162,629

​

$

(16,571)

​

$

162,629

​

$

(16,571)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2024

​

​

Less than 12 Months

​

12 Months or More

​

Total

​

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

Description of Securities

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

45,977

​

$

(1,008)

​

$

253,971

​

$

(39,866)

​

$

299,948

​

$

(40,874)

Agency collateralized mortgage obligations

​

 

50,720

​

​

(890)

​

​

62,903

​

​

(8,881)

​

​

113,623

​

​

(9,771)

Small Business Administration securities

​

 

7,229

​

​

(270)

​

​

50,665

​

​

(7,685)

​

​

57,894

​

​

(7,955)

States and political subdivisions securities

​

 

14,523

​

​

(343)

​

​

37,945

​

​

(2,386)

​

​

52,468

​

​

(2,729)

​

​

$

118,449

​

$

(2,511)

​

$

405,484

​

$

(58,818)

​

$

523,933

​

$

(61,329)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HELD-TO-MATURITY SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

—

​

$

—

​

$

64,406

​

$

(8,523)

​

$

64,406

​

$

(8,523)

Agency collateralized mortgage obligations

​

​

—

​

​

—

​

​

92,858

​

​

(15,495)

​

​

92,858

​

​

(15,495)

States and political subdivisions securities

​

​

—

​

​

—

​

​

5,501

​

​

(650)

​

​

5,501

​

​

(650)

​

​

$

—

​

$

—

​

$

162,765

​

$

(24,668)

​

$

162,765

​

$

(24,668)

​

Allowance for Credit Losses The Company evaluates all securities quarterly to determine if any securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments. All of the mortgage-backed, collateralized mortgage, and SBA securities held by the Company are issued by U.S. government-sponsored entities and agencies. These securities are either explicitly or implicitly guaranteed by the U.S. government, are highly rated by major rating agencies and have a long history of no credit losses. Likewise, the Company has not experienced historical losses on these types of securities. Accordingly, no allowance for credit losses has been recorded for these securities.

Regarding securities issued by state and political subdivisions, management considers the following when evaluating these securities: (i) current issuer bond ratings, (ii) historical loss rates for given bond ratings, (iii) whether issuers continue to make timely principal and interest payments under the contractual terms of the securities, (iv) updated financial information of the issuer, (v) internal forecasts and (vi) whether such securities provide insurance or other credit enhancement or are pre-refunded by the issuers. These securities are highly rated by major rating agencies and have a long history of no credit losses. Likewise, the Company has not experienced historical losses on these types of securities. Accordingly, no allowance for credit losses has been recorded for these securities.
v3.25.4
Loans and Allowance for Credit Losses
 12 Months Ended
Dec. 31, 2025
Loans and Allowance for Credit Losses  
Loans And Allowance for Credit Losses

Note 3:      Loans and Allowance for Credit Losses

The Company measures the allowance for credit losses under ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, referred to as the CECL methodology. The measurement of expected credit losses under the CECL methodology is applicable to financial assets measured at amortized cost, including loan receivables. It also applies to off-balance sheet credit exposures not accounted for as insurance, including loan commitments, standby letters of credits, financial guarantees, and other similar instruments.

Classes of loans at December 31, 2025 and 2024, included:

​

​

​

​

​

​

​

​

​

​

December 31, 

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

One- to four-family residential construction

  ​ ​ ​

$

30,258

  ​ ​ ​

$

30,533

Subdivision construction

​

 

32,160

​

 

19,861

Land development

​

 

37,519

​

 

42,504

Commercial construction

​

 

249,224

​

 

352,793

Owner occupied one- to four-family residential

​

 

656,699

​

 

710,446

Non-owner occupied one- to four-family residential

​

 

125,298

​

 

122,901

Commercial real estate

​

 

1,556,148

​

 

1,543,742

Other residential (multi-family)

​

 

1,387,410

​

 

1,549,249

Commercial business

​

 

178,514

​

 

220,291

Consumer auto

​

 

24,169

​

 

25,787

Consumer other

​

 

22,249

​

 

27,905

Home equity lines of credit

​

 

128,030

​

 

115,836

​

​

 

4,427,678

​

 

4,761,848

Allowance for credit losses

​

 

(64,771)

​

 

(64,760)

Deferred loan fees and gains, net

​

 

(6,054)

​

 

(6,695)

​

​

$

4,356,853

​

$

4,690,393

​

Classes of loans by aging were as follows as of the dates indicated:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Loans

​

​

​

​

​

​

​

​

Over 90

​

​

​

​

​

​

​

Total

​

> 90 Days Past

​

​

30-59 Days

​

60-89 Days

​

Days

​

Total Past

​

​

​

​

Loans

​

Due and

​

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Due

  ​ ​ ​

Current

  ​ ​ ​

Receivable

  ​ ​ ​

Still Accruing

​

​

(In Thousands)

One- to four-family residential construction

​

$

—

​

$

—

​

$

—

​

$

—

​

$

30,258

​

$

30,258

​

$

—

Subdivision construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

32,160

​

​

32,160

​

​

—

Land development

​

 

—

​

​

—

​

​

—

​

​

—

​

​

37,519

​

​

37,519

​

​

—

Commercial construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

249,224

​

​

249,224

​

​

—

Owner occupied one- to four- family residential

​

 

830

​

​

521

​

​

631

​

​

1,982

​

​

654,717

​

​

656,699

​

​

—

Non-owner occupied one- to four-family residential

​

 

—

​

​

—

​

​

1,435

​

​

1,435

​

​

123,863

​

​

125,298

​

​

—

Commercial real estate

​

 

70

​

​

—

​

​

—

​

​

70

​

​

1,556,078

​

​

1,556,148

​

​

—

Other residential (multi-family)

​

 

24,762

​

​

—

​

​

—

​

​

24,762

​

​

1,362,648

​

​

1,387,410

​

​

—

Commercial business

​

 

—

​

​

—

​

​

—

​

​

—

​

​

178,514

​

​

178,514

​

​

—

Consumer auto

​

 

27

​

​

12

​

​

—

​

​

39

​

​

24,130

​

​

24,169

​

​

—

Consumer other

​

 

128

​

​

30

​

​

10

​

​

168

​

​

22,081

​

​

22,249

​

​

—

Home equity lines of credit

​

 

74

​

​

—

​

​

18

​

​

92

​

​

127,938

​

​

128,030

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total

​

$

25,891

​

$

563

​

$

2,094

​

$

28,548

​

$

4,399,130

​

$

4,427,678

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Loans

​

​

​

​

​

​

​

​

Over 90

​

​

​

​

​

​

​

Total

​

> 90 Days Past

​

​

30-59 Days

​

60-89 Days

​

Days

​

Total Past

​

​

​

​

Loans

​

Due and

​

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Due

  ​ ​ ​

Current

  ​ ​ ​

Receivable

  ​ ​ ​

Still Accruing

​

​

(In Thousands)

One- to four-family residential construction

​

$

12

​

$

—

​

$

—

​

$

12

​

$

30,521

​

$

30,533

​

$

—

Subdivision construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

19,861

​

​

19,861

​

​

—

Land development

​

 

—

​

​

—

​

​

464

​

​

464

​

​

42,040

​

​

42,504

​

​

—

Commercial construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

352,793

​

​

352,793

​

​

—

Owner occupied one- to four- family residential

​

 

1,704

​

​

816

​

​

950

​

​

3,470

​

​

706,976

​

​

710,446

​

​

—

Non-owner occupied one- to four-family residential

​

 

642

​

​

—

​

​

1,681

​

​

2,323

​

​

120,578

​

​

122,901

​

​

—

Commercial real estate

​

 

—

​

​

—

​

​

77

​

​

77

​

​

1,543,665

​

​

1,543,742

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

​

​

—

​

​

—

​

​

1,549,249

​

​

1,549,249

​

​

—

Commercial business

​

 

—

​

​

—

​

​

384

​

​

384

​

​

219,907

​

​

220,291

​

​

—

Consumer auto

​

 

39

​

​

1

​

​

—

​

​

40

​

​

25,747

​

​

25,787

​

​

—

Consumer other

​

 

145

​

​

4

​

​

17

​

​

166

​

​

27,739

​

​

27,905

​

​

—

Home equity lines of credit

​

 

63

​

​

56

​

​

—

​

​

119

​

​

115,717

​

​

115,836

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total

​

$

2,605

​

$

877

​

$

3,573

​

$

7,055

​

$

4,754,793

​

$

4,761,848

​

$

—

​

Loans are placed on nonaccrual status at 90 days past due and interest is considered a loss unless the loan is well secured and in the process of collection. Payments received on nonaccrual loans are applied to principal until the loans are returned to accrual status. Loans are returned to accrual status when all payments contractually due are brought current, payment performance is sustained for a period of time, generally six months, and future payments are reasonably assured. With the exception of consumer loans, charge-offs on loans are recorded when available information indicates a loan is not fully collectible and the loss is reasonably quantifiable. Consumer loans are charged-off at specified delinquency dates consistent with regulatory guidelines.

Nonaccruing loans are summarized as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

One- to four-family residential construction

​

$

—

​

$

—

Subdivision construction

​

 

—

​

 

—

Land development

​

 

—

​

 

464

Commercial construction

​

 

—

​

 

—

Owner occupied one- to four-family residential

​

 

631

​

 

950

Non-owner occupied one- to four-family residential

​

 

1,435

​

 

1,681

Commercial real estate

​

 

—

​

 

77

Other residential (multi-family)

​

 

—

​

 

—

Commercial business

​

 

—

​

 

384

Consumer auto

​

 

—

​

 

—

Consumer other

​

 

10

​

 

17

Home equity lines of credit

​

 

18

​

 

—

Total nonaccruing loans

​

$

2,094

​

$

3,573

​

No interest income was recorded on these loans for the years ended December 31, 2025 and 2024, respectively.

Nonaccrual loans for which there is no related allowance for credit losses as of December 31, 2025 had an amortized cost of $2.0 million. These loans are individually assessed and do not require an allowance due to being adequately collateralized under the collateral-dependent valuation method. A collateral-dependent loan is a financial asset for which the repayment is expected to be provided substantially through the operation or sale of the collateral when the borrower is experiencing financial difficulty based on the Company’s assessment as of the reporting date. Collateral-dependent loans are identified primarily by a classified risk rating with a loan balance equal to or greater than $100,000, including, but not limited to, any loan in process of foreclosure or repossession.

The following table presents the activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2025, 2024 and 2023.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to Four-

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

and

​

Other

​

Commercial

​

Commercial

​

Commercial

​

​

​

​

​

​

​

  ​ ​ ​

Construction

  ​ ​ ​

Residential

  ​ ​ ​

Real Estate

  ​ ​ ​

Construction

  ​ ​ ​

Business

  ​ ​ ​

Consumer

  ​ ​ ​

Total

​

  ​ ​ ​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Balance, January 1, 2025

​

$

9,224

​

$

15,594

​

$

28,802

​

$

2,735

​

$

4,656

​

$

3,749

​

$

64,760

Provision (credit) charged to expense

​

 

(1,728)

​

​

2,882

​

​

429

​

​

(660)

​

​

(932)

​

​

9

​

​

—

Losses charged off

​

 

(46)

​

​

—

​

​

(8)

​

​

—

​

​

(179)

​

​

(1,073)

​

​

(1,306)

Recoveries

​

 

33

​

​

—

​

​

—

​

​

321

​

​

366

​

​

597

​

​

1,317

Balance, December 31, 2025

​

$

7,483

​

$

18,476

​

$

29,223

​

$

2,396

​

$

3,911

​

$

3,282

​

$

64,771

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2024

​

$

9,820

​

$

13,370

​

$

28,171

​

$

2,844

​

$

6,935

​

$

3,530

​

$

64,670

Provision (credit) charged to expense

​

​

(570)

​

​

2,224

​

​

1,931

​

​

(202)

​

​

(2,526)

​

​

843

​

​

1,700

Losses charged off

​

​

(64)

​

​

—

​

​

(1,300)

​

​

(101)

​

​

(243)

​

​

(1,492)

​

​

(3,200)

Recoveries

​

​

38

​

​

—

​

​

—

​

​

194

​

​

490

​

​

868

​

​

1,590

Balance, December 31, 2024

​

$

9,224

​

$

15,594

​

$

28,802

​

$

2,735

​

$

4,656

​

$

3,749

​

$

64,760

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2023

​

$

11,171

​

$

12,110

​

$

27,096

​

$

2,865

​

$

5,822

​

$

4,416

​

$

63,480

Provision (credit) charged to expense

​

​

(1,390)

​

​

1,260

​

​

930

​

​

(27)

​

​

1,909

​

​

(432)

​

​

2,250

Losses charged off

​

​

(31)

​

​

—

​

​

—

​

​

—

​

​

(1,037)

​

​

(1,754)

​

​

(2,822)

Recoveries

​

​

70

​

​

—

​

​

145

​

​

6

​

​

241

​

​

1,300

​

​

1,762

Balance, December 31, 2023

​

$

9,820

​

$

13,370

​

$

28,171

​

$

2,844

​

$

6,935

​

$

3,530

​

$

64,670

​

The following table presents the activity in the allowance for unfunded commitments by portfolio segment for the years ended December 31, 2025, 2024 and 2023.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to Four-

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

and

​

Other

​

Commercial

​

Commercial

​

Commercial

​

​

​

​

​

​

​

  ​ ​ ​

Construction

  ​ ​ ​

Residential

  ​ ​ ​

Real Estate

  ​ ​ ​

Construction

  ​ ​ ​

Business

  ​ ​ ​

Consumer

  ​ ​ ​

Total

​

​

(In Thousands)

Allowance for unfunded commitments

  ​ ​ ​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

Balance, January 1, 2025

​

$

619

​

$

4,833

​

$

653

​

$

496

​

$

1,468

​

$

434

​

$

8,503

Provision (credit) charged to expense

​

​

348

​

​

(253)

​

​

46

​

​

141

​

​

(166)

​

​

(71)

​

​

45

Balance, December 31, 2025

​

$

967

​

$

4,580

​

$

699

​

$

637

​

$

1,302

​

$

363

​

$

8,548

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for unfunded commitments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2024

​

$

706

​

$

4,006

​

$

619

​

$

741

​

$

959

​

$

456

​

$

7,487

Provision (credit) charged to expense

​

​

(87)

​

​

827

​

​

34

​

​

(245)

​

​

509

​

​

(22)

​

​

1,016

Balance, December 31, 2024

​

$

619

​

$

4,833

​

$

653

​

$

496

​

$

1,468

​

$

434

​

$

8,503

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for unfunded commitments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2023

​

$

736

​

$

8,624

​

$

416

​

$

802

​

$

1,734

​

$

504

​

$

12,816

Provision (credit) charged to expense

​

​

(30)

​

​

(4,618)

​

​

203

​

​

(61)

​

​

(775)

​

​

(48)

​

​

(5,329)

Balance, December 31, 2023

​

$

706

​

$

4,006

​

$

619

​

$

741

​

$

959

​

$

456

​

$

7,487

​

The portfolio segments used in the preceding tables correspond to the loan classes used in all other tables in Note 3 as follows:

●The one- to four-family residential and construction segment includes the one- to four-family residential construction, subdivision construction, owner occupied one- to four-family residential and non-owner occupied one- to four-family residential classes.
●The other residential (multi-family) segment corresponds to the other residential (multi-family) class.
●The commercial real estate segment includes the commercial real estate and industrial revenue bonds classes.
●The commercial construction segment includes the land development and commercial construction classes.
●The commercial business segment corresponds to the commercial business class.
●The consumer segment includes the consumer auto, consumer other and home equity lines of credit classes.

The weighted average interest rate on loans receivable at December 31, 2025 and 2024, was 5.76% and 6.08%, respectively.

Loans serviced for others are not included in the accompanying consolidated statements of financial condition. The unpaid principal balance of loans serviced for others at December 31, 2025, was $282.2 million, consisting of $196.3 million of commercial loan participations sold to other financial institutions and $85.9 million of residential mortgage loans sold. The unpaid principal balance of loans serviced for others at December 31, 2024, was $397.0 million, consisting of $301.4 million of commercial loan participations sold to other financial institutions and $95.6 million of residential mortgage loans sold. In addition, available lines of credit on these loans were $22.3 million and $34.0 million at December 31, 2025 and 2024, respectively.

The following tables present the amortized cost basis of collateral-dependent loans by class of loans at the dates indicated:

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

Principal

​

Specific

​

  ​ ​ ​

Balance

  ​ ​ ​

Allowance

​

 

(In Thousands)

One- to four-family residential construction

​

$

—

​

$

—

Subdivision construction

​

 

—

​

​

—

Land development

​

 

—

​

​

—

Commercial construction

​

 

—

​

​

—

Owner occupied one- to four-family residential

​

 

1,207

​

​

—

Non-owner occupied one- to four-family residential

​

 

1,435

​

​

—

Commercial real estate

​

 

—

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

Commercial business

​

 

—

​

​

—

Consumer auto

​

 

—

​

​

—

Consumer other

​

 

—

​

​

—

Home equity lines of credit

​

 

—

​

​

—

​

​

​

​

​

​

​

Total

​

$

2,642

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

Principal

​

Specific

​

  ​ ​ ​

Balance

  ​ ​ ​

Allowance

​

​

(In Thousands)

One- to four-family residential construction

  ​ ​ ​

$

—

​

$

—

Subdivision construction

​

 

—

​

​

—

Land development

​

 

464

​

​

12

Commercial construction

​

 

—

​

​

—

Owner occupied one- to four-family residential

​

 

1,677

​

​

—

Non-owner occupied one- to four-family residential

​

 

1,681

​

​

261

Commercial real estate

​

 

4,253

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

Commercial business

​

 

384

​

​

245

Consumer auto

​

 

—

​

​

—

Consumer other

​

 

—

​

​

—

Home equity lines of credit

​

 

1,390

​

​

—

​

​

​

​

​

​

​

Total

​

$

9,849

​

$

518

​

For loans that were nonaccruing, interest of approximately $288,000, $681,000 and $509,000 would have been recognized on an accrual basis during the years ended December 31, 2025, 2024 and 2023, respectively.

Modified Loans. Loan modifications are reported if concessions have been granted to borrowers that are experiencing financial difficulty. The estimate of lifetime expected losses utilized in the allowance for credit losses model is developed using average historical loss on loans with similar risk characteristics, which includes losses from modifications of loans to borrowers experiencing financial difficulty. As a result, a charge to the allowance for credit losses is generally not recorded upon modification. For modifications to loans made to borrowers experiencing financial difficulty that are adversely classified, the Company determines the allowance for credit losses on an individual basis, using the same process that it utilizes for other adversely classified loans. If collection efforts have begun and the modified loan is subsequently deemed collateral-dependent, the loan is placed on nonaccrual status and the allowance for credit losses is determined based on an individual evaluation. If necessary, the loan is charged down to fair market value less estimated sales costs.

The following tables show, as of the dates indicated, the composition of loan modifications made to loans to borrowers experiencing financial difficulty, by the loan class and type of concessions granted. Each of the types of concessions granted comprised 2% or less of their respective classes of loan portfolios at December 31, 2025 and December 31, 2024. During the year ended December 31, 2025, principal forgiveness of $53,000 was completed on consumer loans, compared to principal forgiveness of $295,000 completed on consumer loans and a land development loan during the year ended December 31, 2024.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amortized Cost Basis at December 31, 2025

​

​

Interest Rate

​

Term

​

​

​

​

Total

​

​

Reduction

  ​ ​ ​

Extension

  ​ ​ ​

Combination

  ​ ​ ​

Modifications

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

 

—

​

​

—

​

​

—

​

​

—

Other residential

​

 

—

​

​

—

​

​

—

​

​

—

Commercial real estate

​

 

—

​

​

—

​

​

—

​

​

—

Commercial business

​

 

—

​

​

—

​

​

—

​

​

—

Consumer

​

 

5

​

​

—

​

​

—

​

​

5

​

​

$

5

​

$

—

​

$

—

​

$

5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amortized Cost Basis at December 31, 2024

​

​

Interest Rate

​

Term

​

​

​

​

Total

​

​

Reduction

  ​ ​ ​

Extension

  ​ ​ ​

Combination

  ​ ​ ​

Modifications

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

 

—

​

​

—

​

​

—

​

​

—

Other residential

​

 

—

​

​

2,709

​

​

—

​

​

2,709

Commercial real estate

​

 

—

​

​

70

​

​

—

​

​

70

Commercial business

​

 

—

​

​

—

​

​

—

​

​

—

Consumer

​

 

—

​

​

31

​

​

—

​

​

31

​

​

$

—

​

$

2,810

​

$

—

​

$

2,810

​

The Company closely monitors the performance of loans to borrowers experiencing financial difficulty that are modified to understand the effectiveness of its modification efforts. The following table depicts the performance of loans (under modified terms) at December 31, 2025 and at December 31, 2024, respectively:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

​

​

​

30-89 Days

​

Over 90 Days

​

​

​

​

  ​ ​ ​

Current

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Total

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

 

—

​

​

—

​

​

—

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

​

​

—

​

​

—

Commercial real estate

​

 

—

​

​

—

​

​

—

​

​

—

Commercial business

​

​

—

​

​

—

​

​

—

​

​

—

Consumer

​

​

5

​

​

—

​

​

—

​

​

5

​

​

$

5

​

$

—

​

$

—

​

$

5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

30-89 Days

​

Over 90 Days

​

​

​

​

  ​ ​ ​

Current

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Total

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

​

—

​

​

—

​

​

—

​

​

—

Other residential (multi-family)

​

 

2,709

​

​

—

​

​

—

​

​

2,709

Commercial real estate

​

​

70

​

​

—

​

​

—

​

​

70

Commercial business

​

​

—

​

​

—

​

​

—

​

​

—

Consumer

​

 

31

​

​

—

​

​

—

​

​

31

​

​

$

2,810

​

$

—

​

$

—

​

$

2,810

​

Loan Risk Ratings. The Company utilizes an internal risk rating system comprised of a series of grades to categorize loans according to perceived risk associated with the expectation of debt repayment. The analysis of the borrower’s ability to repay considers specific information, including but not limited to current financial information, historical payment experience, industry information and collateral levels and types. A risk rating is assigned at loan origination and then monitored throughout the contractual term for possible risk rating changes.

Satisfactory loans range from Excellent to Moderate Risk, but generally are loans supported by strong recent financial statements. The character and capacity of the borrower are solid, including reasonable project performance, good industry experience, liquidity and/or net worth. The probability of financial deterioration seems unlikely. Repayment is expected from approved sources over a reasonable period of time.

Watch loans are identified when the borrower has capacity to perform according to terms; however, elements of uncertainty exist. Margins of debt service coverage may be narrow, historical patterns of financial performance may be erratic, collateral margins may be diminished or the borrower may be a new and/or thinly capitalized company. Some management weakness on the part of the borrower may also exist, the borrower may have somewhat limited access to other financial institutions, and that access may diminish in difficult economic times.

Special Mention loans have weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of repayment prospects or the Bank’s credit position at some future date. This is a transitional grade closely monitored for improvement or deterioration.

The Substandard rating is applied to loans where the borrower exhibits well-defined weaknesses that jeopardize its continued performance and are of a severity that the distinct possibility of default exists. Loans are placed on “nonaccrual” when management does not expect to collect payments consistent with acceptable and agreed upon terms of repayment.

Doubtful loans have all the weaknesses inherent to those classified Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, highly questionable and improbable.

The Loss category is used when loans are considered uncollectable and no longer included as an asset.

All loans are analyzed for risk rating updates regularly. For larger loans, rating assessments may be more frequent if relevant information is obtained earlier through debt covenant monitoring or overall relationship management. Smaller loans are monitored as identified by the loan officer based on the risk profile of the individual borrower or if the loan becomes past due related to credit issues. Loans rated Watch, Special Mention, Substandard or Doubtful are subject to formal quarterly review and continuous monitoring processes. In addition to the regular monitoring performed by the lending personnel and credit committees, loans are subject to review by the credit review department, which verifies the appropriateness of the risk ratings for the loans chosen as part of its risk-based review plan.

The following tables present a summary of loans by category and risk rating separated by origination and loan class as of December 31, 2025 and December 31, 2024.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Term Loans by Origination Year

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revolving

​

​

 

December 31, 2025

  ​

2025

  ​

2024

  ​

2023

  ​

2022

  ​

2021

  ​

Prior

  ​

Loans

  ​

Total

​

​

(In Thousands)

One- to four-family residential construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

$

18,452

​

$

4,606

​

$

2,611

​

$

1,242

​

$

—

​

$

—

​

$

3,347

​

$

30,258

Watch (5)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Total

​

​

18,452

​

​

4,606

​

​

2,611

​

​

1,242

​

​

—

​

​

—

​

​

3,347

​

​

30,258

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Subdivision construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

924

​

​

2,745

​

​

278

​

​

260

​

​

16,146

​

​

428

​

​

11,379

​

​

32,160

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

924

​

​

2,745

​

​

278

​

​

260

​

​

16,146

​

​

428

​

​

11,379

​

​

32,160

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction and land development

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

11,147

​

​

9,046

​

​

6,573

​

​

1,097

​

​

368

​

​

6,413

​

​

2,875

​

​

37,519

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

11,147

​

​

9,046

​

​

6,573

​

​

1,097

​

​

368

​

​

6,413

​

​

2,875

​

​

37,519

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

35,846

​

​

166,912

​

​

7,448

​

​

38,049

​

​

969

​

​

—

​

​

—

​

​

249,224

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

35,846

​

​

166,912

​

​

7,448

​

​

38,049

​

​

969

​

​

—

​

​

—

​

​

249,224

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

65,388

​

​

39,406

​

​

49,967

​

​

267,992

​

​

153,547

​

​

200,389

​

​

1,340

​

​

778,029

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

724

​

​

—

​

​

724

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

28

​

​

71

​

​

507

​

​

268

​

​

1,756

​

​

614

​

​

3,244

Total

​

​

65,388

​

​

39,434

​

​

50,038

​

​

268,499

​

​

153,815

​

​

202,869

​

​

1,954

​

​

781,997

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

21

​

​

16

​

​

9

​

​

—

​

​

46

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other residential (multi-family)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

99,386

​

​

153,763

​

​

113,657

​

​

541,044

​

​

266,906

​

​

182,230

​

​

2,999

​

​

1,359,985

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,663

​

​

—

​

​

2,663

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

24,762

​

​

—

​

​

—

​

​

24,762

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

99,386

​

​

153,763

​

​

113,657

​

​

541,044

​

​

291,668

​

​

184,893

​

​

2,999

​

​

1,387,410

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

122,684

​

​

142,179

​

​

93,260

​

​

305,833

​

​

194,448

​

​

640,276

​

​

34,936

​

​

1,533,616

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

10,548

​

​

—

​

​

2,964

​

​

—

​

​

13,512

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

9,020

​

​

—

​

​

9,020

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

122,684

​

​

142,179

​

​

93,260

​

​

316,381

​

​

194,448

​

​

652,260

​

​

34,936

​

​

1,556,148

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

8

​

​

—

​

​

—

​

​

8

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial business

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

31,698

​

​

22,010

​

​

9,959

​

​

13,490

​

​

15,629

​

​

38,256

​

​

44,170

​

​

175,212

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

805

​

​

2,473

​

​

24

​

​

—

​

​

3,302

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

31,698

​

​

22,010

​

​

9,959

​

​

14,295

​

​

18,102

​

​

38,280

​

​

44,170

​

​

178,514

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

135

​

​

44

​

​

179

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

15,703

​

​

9,937

​

​

4,651

​

​

2,530

​

​

1,015

​

​

7,509

​

​

131,623

​

​

172,968

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

188

​

​

70

​

​

258

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

983

​

​

983

Classified (7-9)

​

​

—

​

​

10

​

​

15

​

​

2

​

​

11

​

​

43

​

​

158

​

​

239

Total

​

​

15,703

​

​

9,947

​

​

4,666

​

​

2,532

​

​

1,026

​

​

7,740

​

​

132,834

​

​

174,448

Current Period Gross Charge Offs

​

​

58

​

​

63

​

​

33

​

​

23

​

​

2

​

​

888

​

​

6

​

​

1,073

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Combined

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

401,228

​

​

550,604

​

​

288,404

​

​

1,171,537

​

​

649,028

​

​

1,075,501

​

​

232,669

​

​

4,368,971

Watch (5)

​

​

—

​

​

—

​

​

—

​

 

11,353

​

​

2,473

​

​

6,563

​

​

70

​

​

20,459

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

24,762

​

​

9,020

​

​

983

​

​

34,765

Classified (7-9)

​

​

—

​

​

38

​

​

86

​

 

509

​

​

279

​

​

1,799

​

​

772

​

​

3,483

Total

​

$

401,228

​

$

550,642

​

$

288,490

​

$

1,183,399

​

$

676,542

​

$

1,092,883

​

$

234,494

​

$

4,427,678

Current Period Gross Charge Offs

​

$

58

​

$

63

​

$

33

​

$

44

​

$

26

​

$

1,032

​

$

50

​

$

1,306

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Term Loans by Origination Year

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revolving

​

​

​

December 31, 2024

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

2020

  ​ ​ ​

Prior

  ​ ​ ​

Loans

  ​ ​ ​

Total

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

$

11,750

​

$

8,961

​

$

822

​

$

—

​

$

—

​

$

—

​

$

9,000

​

$

30,533

Watch (5)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Total

​

​

11,750

​

​

8,961

​

​

822

​

 

—

​

​

—

​

 

—

​

​

9,000

​

​

30,533

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Subdivision construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

711

​

​

182

​

​

136

​

​

17,609

​

​

29

​

​

205

​

​

989

​

​

19,861

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

711

​

​

182

​

​

136

​

 

17,609

​

​

29

​

 

205

​

​

989

​

​

19,861

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction and land development

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

18,282

​

​

6,112

​

​

2,722

​

​

5,210

​

​

3,105

​

​

4,236

​

​

2,373

​

​

42,040

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

464

​

​

—

​

​

—

​

​

464

Total

​

​

18,282

​

​

6,112

​

​

2,722

​

 

5,210

​

​

3,569

​

 

4,236

​

​

2,373

​

​

42,504

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

101

​

​

—

​

​

101

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

78,337

​

​

52,046

​

​

189,389

​

​

33,021

​

​

—

​

​

—

​

​

—

​

​

352,793

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

78,337

​

​

52,046

​

​

189,389

​

​

33,021

​

​

—

​

​

—

​

​

—

​

​

352,793

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

42,931

​

​

59,973

​

​

304,054

​

​

176,759

​

​

91,238

​

​

153,392

​

​

426

​

​

828,773

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

145

​

​

597

​

​

—

​

​

742

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

628

​

​

387

​

​

129

​

​

—

​

​

1,178

​

​

1,510

​

​

3,832

Total

​

​

42,931

​

​

60,601

​

​

304,441

​

​

176,888

​

​

91,383

​

​

155,167

​

​

1,936

​

​

833,347

Current Period Gross Charge Offs

​

​

—

​

​

49

​

​

—

​

​

—

​

​

—

​

​

16

​

​

—

​

​

65

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other residential (multi-family)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

66,028

​

​

92,268

​

​

552,183

​

​

506,902

​

​

179,094

​

​

146,712

​

​

3,352

​

​

1,546,539

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,710

​

​

—

​

​

2,710

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

66,028

​

​

92,268

​

​

552,183

​

​

506,902

​

​

179,094

​

​

149,422

​

​

3,352

​

​

1,549,249

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

97,512

​

​

81,282

​

​

320,442

​

​

217,049

​

​

96,246

​

​

682,549

​

​

35,937

​

​

1,531,017

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

7,879

​

​

—

​

​

7,879

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

438

​

​

—

​

​

438

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

77

​

​

—

​

​

4,331

​

​

—

​

​

4,408

Total

​

​

97,512

​

​

81,282

​

​

320,442

​

​

217,126

​

​

96,246

​

​

695,197

​

​

35,937

​

​

1,543,742

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

54

​

​

10

​

​

—

​

​

1,236

​

​

—

​

​

1,300

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial business

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

21,179

​

​

29,846

​

​

28,678

​

​

20,301

​

​

7,646

​

​

44,908

​

​

62,015

​

​

214,573

Watch (5)

​

​

—

​

​

—

​

​

1,005

​

​

3,296

​

​

—

​

​

—

​

​

—

​

​

4,301

Special Mention (6)

​

​

—

​

​

—

​

​

995

​

​

—

​

​

38

​

​

—

​

​

—

​

​

1,033

Classified (7-9)

​

​

—

​

​

245

​

​

—

​

​

—

​

​

—

​

​

139

​

​

—

​

​

384

Total

​

​

21,179

​

​

30,091

​

​

30,678

​

​

23,597

​

​

7,684

​

​

45,047

​

​

62,015

​

​

220,291

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

4

​

​

27

​

​

164

​

​

48

​

​

243

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

17,391

​

​

9,234

​

​

6,147

​

​

2,618

​

​

1,151

​

​

10,478

​

​

120,653

​

​

167,672

Watch (5)

​

​

—

​

​

—

​

​

5

​

​

—

​

​

4

​

​

194

​

​

107

​

​

310

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

1

​

​

9

​

​

11

​

​

20

​

​

—

​

​

53

​

​

1,452

​

​

1,546

Total

​

​

17,392

​

​

9,243

​

​

6,163

​

​

2,638

​

​

1,155

​

​

10,725

​

​

122,212

​

​

169,528

Current Period Gross Charge Offs

​

​

13

​

​

105

​

​

122

​

​

32

​

​

4

​

​

1,161

​

​

54

​

​

1,491

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Combined

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

354,121

​

​

339,904

​

​

1,404,573

​

 

979,469

​

​

378,509

​

 

1,042,480

​

​

234,745

​

​

4,733,801

Watch (5)

​

​

—

​

​

—

​

​

1,010

​

 

3,296

​

​

149

​

 

11,380

​

​

107

​

​

15,942

Special Mention (6)

​

​

—

​

​

—

​

​

995

​

 

—

​

​

38

​

 

438

​

​

—

​

​

1,471

Classified (7-9)

​

​

1

​

​

882

​

​

398

​

 

226

​

​

464

​

 

5,701

​

​

2,962

​

​

10,634

Total

​

$

354,122

​

$

340,786

​

$

1,406,976

​

$

982,991

​

$

379,160

​

$

1,059,999

​

$

237,814

​

$

4,761,848

Current Period Gross Charge Offs

​

$

13

​

$

154

​

$

176

​

$

46

​

$

31

​

$

2,678

​

$

102

​

$

3,200

​

​

Certain of the Bank’s real estate loans are pledged as collateral for borrowings as set forth in Notes 8 and 10.

Certain directors and executive officers of the Company and the Bank, and their affiliates, are customers of and had transactions with the Bank in the ordinary course of business. Except for the interest rates on loans secured by personal residences, in the opinion of management, all loans included in such transactions were made on substantially the same terms as those prevailing at the time for comparable transactions with unrelated parties. Generally, residential first mortgage loans and home equity lines of credit to all employees and directors have been granted at interest rates equal to the Bank’s cost of funds, subject to annual adjustments in the case of residential first mortgage loans and monthly adjustments in the case of home equity lines of credit. At December 31, 2025 and 2024, loans outstanding to these directors and executive officers, and their related interests, are summarized as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Balance, beginning of year

​

$

8,345

​

$

16,026

New loans and draws

​

 

12,651

​

 

7,446

Payments

​

 

(2,522)

​

 

(15,127)

​

​

​

​

​

​

​

Balance, end of year

​

$

18,474

​

$

8,345

​
v3.25.4
Other Real Estate Owned and Repossessions
 12 Months Ended
Dec. 31, 2025
Other Real Estate Owned and Repossessions  
Other Real Estate Owned and Repossessions

Note 4:      Other Real Estate Owned and Repossessions

Major classifications of other real estate owned at December 31, 2025 and 2024, were as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

Foreclosed assets held for sale and repossessions

 

​

  ​

 

​

  ​

One- to four-family construction

​

$

—

​

$

—

Subdivision construction

​

 

—

​

 

—

Land development

​

 

—

​

 

—

Commercial construction

​

 

—

​

 

—

One- to four-family residential

​

 

—

​

 

—

Other residential

​

 

—

​

 

—

Commercial real estate

​

 

6,025

​

 

5,960

Commercial business

​

 

—

​

 

—

Consumer

​

 

11

​

 

33

​

​

​

​

​

​

​

Foreclosed assets held for sale and repossessions

​

 

6,036

​

 

5,993

​

​

​

​

​

​

​

Other real estate owned not acquired through foreclosure

​

 

—

​

 

—

​

​

​

​

​

​

​

Other real estate owned and repossessions

​

$

6,036

​

$

5,993

​

At December 31, 2025 and 2024, there was no other real estate owned not acquired through foreclosure.

At December 31, 2025 and 2024, residential mortgage loans totaling $-0- and $12,000, respectively, were in the process of foreclosure.

Expense (income) applicable to other real estate owned and repossessions for the years ended December 31, 2025, 2024 and 2023, included the following:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Net gains on sales of other real estate owned and repossessions

​

$

(8)

​

$

(496)

​

$

(42)

Valuation write-downs

​

 

12

​

 

—

​

 

81

Operating expenses, net of rental income

​

 

(522)

​

 

192

​

 

272

​

​

​

​

​

​

​

​

​

​

​

​

$

(518)

​

$

(304)

​

$

311

​
v3.25.4
Premises and Equipment
 12 Months Ended
Dec. 31, 2025
Premises and Equipment  
Premises and Equipment

Note 5:      Premises and Equipment

Major classifications of premises and equipment at December 31, 2025 and 2024, stated at cost, were as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Land

​

$

40,250

​

$

39,340

Buildings and improvements

​

 

110,536

​

 

107,525

Furniture, fixtures and equipment

​

 

72,121

​

 

69,916

Operating leases right of use asset

​

 

4,161

​

 

6,390

​

​

 

227,068

​

 

223,171

Less accumulated depreciation

​

 

93,811

​

 

90,705

​

​

$

133,257

​

$

132,466

​

Leases. The Company records leases in accordance with ASU 2016-02, Leases (Topic 842). The amount of the right of use asset and corresponding lease liability will fluctuate based on the Company’s lease terminations, new leases and lease modifications and renewals. As of December 31, 2025, the lease right of use asset value was $4.2 million and the corresponding lease liability was $4.2 million. As of December 31, 2024, the lease right of use asset value was $6.4 million and the corresponding lease liability was $6.6 million. At December 31, 2025, expected lease terms ranged from 0.9 years to 9.3 years with a weighted-average lease term of 4.9 years. The weighted-average discount rate was 4.17%.

For each of the years ended December 31, 2025, 2024 and 2023, lease expense was $1.7 million. The Company’s short-term leases related to offsite ATMs have both fixed and variable lease payment components, based on the number of transactions at the various ATMs. The variable portion of these lease payments is not material and the total lease expense related to ATMs was $333,000, $343,000 and $317,000 for the years ended December 31, 2025, 2024 and 2023, respectively.

The Company does not sublease any of its leased facilities; however, it does lease to other third parties portions of facilities that it owns. In terms of being the lessor in these circumstances, all of these lease agreements are classified as operating leases. In the years ended December 31, 2025, 2024 and 2023, income recognized from these lease agreements was $1.4 million, $1.3 million, and $1.3 million respectively, and was included in occupancy and equipment expense.

​

​

​

​

​

​

​

​

​

​

At or For the Year Ended

​

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

​

​

(In Thousands)

Statement of Financial Condition

 

​

  ​

​

​

​

Operating leases right of use asset

​

$

4,161

​

$

6,390

Operating leases liability

​

$

4,236

​

$

6,621

​

​

​

​

​

​

​

Statement of Income

​

 

​

​

 

​

Operating lease costs classified as occupancy and equipment expense

​

$

1,697

​

$

1,735

(includes short-term lease costs and amortization of right of use asset)

​

​

​

​

​

​

​

​

​

​

​

​

​

Supplemental Cash Flow Information

​

 

​

​

 

​

Cash paid for amounts included in the measurement of lease liabilities:

​

 

​

​

 

​

Operating cash flows from operating leases

​

$

1,692

​

$

1,717

Right of use assets obtained in exchange for lease obligations and adjustments for lease expected lives:

​

 

​

​

 

​

Operating leases

​

$

(1,136)

​

$

814

​

At December 31, 2025, future expected lease payments for leases with terms exceeding one year were as follows (in thousands):

​

​

​

​

​

2026

  ​ ​ ​

$

1,281

2027

​

 

1,124

2028

​

 

881

2029

​

 

411

2030

​

 

257

Thereafter

​

 

768

​

​

​

​

Future lease payments expected

​

 

4,722

​

​

​

​

Less interest portion of lease payments

​

 

(486)

​

​

​

​

Lease liability

​

$

4,236

​
v3.25.4
Investments in Limited Partnerships
 12 Months Ended
Dec. 31, 2025
Investments in Limited Partnerships  
Investments in Limited Partnerships

Note 6:      Investments in Limited Partnerships

Investments in Affordable Housing Partnerships

Periodically, the Company has invested in certain limited partnerships that were formed to develop and operate apartments and single-family houses designed as high-quality affordable housing for lower income tenants throughout Missouri and contiguous states (“Affordable Housing Partnerships”). At December 31, 2025, the Company had 21 such investments, with a net carrying value of $96.9 million. At December 31, 2024, the Company had 23 such investments, with a net carrying value of $98.8 million. Due to the Company’s inability to exercise any significant influence over any of the investments in Affordable Housing Partnerships, they all are accounted for using the proportional amortization method. Each of the partnerships must meet the regulatory requirements for affordable housing for a minimum 15-year compliance period to fully utilize the tax credits. If the partnerships cease to qualify during the compliance period, the credits may be denied for any period in which the projects are not in compliance and a portion of the credits previously taken may be subject to recapture with interest.

The remaining federal affordable housing tax credits to be utilized through 2036 were $102.3 million as of December 31, 2025, assuming no tax credit recapture events occur and all projects currently under construction are completed as planned. Amortization of the investments in partnerships is expected to be approximately $91.6 million, assuming all projects currently under construction are completed and funded as planned.

The Company’s usage of federal affordable housing tax credits approximated $13.6 million, $11.4 million and $7.7 million during 2025, 2024 and 2023, respectively. Investment amortization was $12.2 million, $10.2 million and $7.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Investments in Community Development Entities

From time to time, the Company has invested in certain limited partnerships that were formed to develop and operate business and real estate projects located in low-income communities. At December 31, 2025, the Company had one such investment, with a net carrying value of $99,000. At December 31, 2024, the Company had one such investment, with a net carrying value of $199,000. Due to the Company’s inability to exercise any significant influence over any of the investments in qualified Community Development Entities, they are accounted for using the proportional amortization method. Each of the partnerships provides federal New Market Tax Credits over a seven-year credit allowance period. In each of the first three years, credits totaling five percent of the original investment are allowed on the credit allowance dates, and for the final four years, credits totaling six percent of the original investment are allowed on the credit allowance dates. Each of the partnerships must be invested in a qualified Community Development Entity on each of the credit allowance dates during the seven-year period to utilize the tax credits. If the Community Development Entities cease to qualify during the seven-year period, the credits may be denied for any credit allowance date and a portion of the credits previously taken may be subject to recapture with interest. The investments in the Community Development Entities cannot be redeemed before the end of the seven-year period.

The Company’s usage of federal New Market Tax Credits approximated $120,000, $120,000 and $100,000 during 2025, 2024 and 2023, respectively. Investment amortization amounted to $100,000, $75,000 and $83,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Upon adoption of ASU 2023-02 on January 1, 2024, the Company recorded a reduction in the investment in these New Market Tax Credits, with a corresponding reduction in retained earnings, of $62,000.

Investments in Limited Partnerships for Federal Rehabilitation/Historic Tax Credits

From time to time, the Company has invested in certain limited partnerships that were formed to provide certain federal rehabilitation/historic tax credits. At both December 31, 2025 and 2024, the Company had no such investments, with the previous investment fully amortizing during 2024. Under current tax law, such partnerships provide federal rehabilitation/historic tax credits over a five-year credit allowance period.

The Company’s usage of certain federal rehabilitation/historic tax credits approximated $300,000, $305,000 and $258,000 during 2025, 2024 and 2023, respectively. Investment amortization amounted to $-0-, $254,000 and $214,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Upon adoption of ASU 2023-02 on January 1, 2024, the Company recorded a reduction in the investment in these Rehabilitation/Historic Tax Credits, with a corresponding reduction in retained earnings, of $161,000.

Investments in Limited Partnerships for State Tax Credits

On occasion, the Company has invested in limited partnerships that were formed to provide certain state tax credits. The Company has primarily syndicated these tax credits and the impact to the Consolidated Statements of Income has not been material.
v3.25.4
Deposits
 12 Months Ended
Dec. 31, 2025
Deposits  
Deposits

Note 7:     Deposits

Deposits at December 31, 2025 and 2024, are summarized as follows:

​

​

​

​

​

​

​

​

​

​

​

​

Weighted Average

​

​

​

​

​

​

​

  ​ ​ ​

Interest Rate

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

(In Thousands, Except Interest Rates)

​

​

​

​

​

​

​

​

​

Non-interest-bearing accounts

 

—

​

$

841,515

​

$

842,931

Interest-bearing checking and savings accounts

 

1.20% and 1.39%

  ​

 

2,289,393

​

 

2,214,732

​

 

​

​

 

3,130,908

​

 

3,057,663

​

​

​

​

​

​

​

​

​

Certificate accounts

 

0.00% - 0.99%

​

 

31,380

​

 

52,720

​

 

1.00% - 1.99%

​

 

94,864

​

 

75,938

​

 

2.00% - 2.99%

​

 

22,720

​

 

8,244

​

 

3.00% - 3.99%

​

 

537,043

​

 

89,967

​

 

4.00% - 4.99%

​

 

2,432

​

 

548,903

​

 

5.00% and above

​

 

—

​

 

—

​

 

3.13% and 3.62%

​

 

688,439

​

 

775,772

​

​

​

​

​

​

​

​

​

Brokered deposits

​

3.80% and 4.61%

​

​

663,427

​

​

772,114

​

​

​

​

​

663,427

​

​

772,114

​

​

​

​

​

​

​

​

​

​

 

​

​

$

4,482,774

​

$

4,605,549

​

The weighted average interest rate on certificates of deposit was 3.13% and 3.62% at December 31, 2025 and 2024, respectively.

The Bank utilizes brokered deposits as an additional funding source. The aggregate amount of brokered deposits was approximately $663.4 million and $772.1 million at December 31, 2025 and 2024, respectively. At December 31, 2025 and 2024, brokered deposits included $450.0 million and $300.0 million, respectively, of purchased funds through the IntraFi Financial network. These IntraFi Financial deposits have a rate of interest that floats daily with an index of effective federal funds rate plus a spread. At December 31, 2025, approximately 38% of the Company’s total deposits were uninsured, when including deposit accounts of consolidated subsidiaries of the Company and collateralized deposits of unaffiliated entities. Excluding deposit accounts of the Company’s consolidated subsidiaries, approximately 16% of the Company’s total deposits were uninsured at December 31, 2025.

At December 31, 2025, scheduled maturities of certificates of deposit and brokered deposits were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Retail

  ​ ​ ​

Brokered

  ​ ​ ​

Total

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

2026

​

$

679,400

​

$

463,427

​

$

1,142,827

2027

​

 

6,009

​

​

150,000

​

​

156,009

2028

​

 

1,302

​

​

50,000

​

​

51,302

2029

​

 

672

​

​

—

​

​

672

2030

​

 

343

​

​

—

​

​

343

Thereafter

​

 

713

​

​

—

​

​

713

​

​

​

​

​

​

​

​

​

​

​

​

$

688,439

​

$

663,427

​

$

1,351,866

​

A summary of interest expense on deposits for the years ended December 31, 2025, 2024 and 2023, is as follows:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Checking and savings accounts

​

$

31,405

​

$

38,140

​

$

28,579

Certificate accounts

​

 

25,209

​

 

34,262

​

 

29,796

Brokered deposits

​

​

37,670

​

​

37,537

​

​

30,719

Early withdrawal penalties

​

 

(147)

​

 

(234)

​

 

(337)

​

​

​

​

​

​

​

​

​

​

​

​

$

94,137

​

$

109,705

​

$

88,757

​
v3.25.4
Advances From Federal Home Loan Bank
 12 Months Ended
Dec. 31, 2025
Advances From Federal Home Loan Bank  
Advances From Federal Home Loan Bank

Note 8:     Advances From Federal Home Loan Bank

At December 31, 2025 and 2024, there were no outstanding term advances from the Federal Home Loan Bank of Des Moines. At December 31, 2025 and 2024, there were outstanding overnight borrowings from the Federal Home Loan Bank of Des Moines, which are included in Short-Term Borrowings.

The Bank has pledged FHLB stock, investment securities and first mortgage loans free of other pledges, liens and encumbrances as collateral for outstanding advances or borrowings. Investment securities with carrying values of approximately $287.7 million and $110.4 million, respectively, were pledged as collateral for FHLB borrowings at December 31, 2025 and 2024. Loans with carrying values of approximately $2.06 billion and $2.12 billion were pledged as collateral for outstanding advances or borrowings at December 31, 2025 and 2024, respectively. The Bank had $1.32 billion remaining available on its line of credit under a borrowing arrangement with the FHLB of Des Moines at December 31, 2025.
v3.25.4
Short-Term Borrowings
 12 Months Ended
Dec. 31, 2025
Short-Term Borrowings.  
Short-Term Borrowings

Note 9:      Short-Term Borrowings

Short-term borrowings at December 31, 2025 and 2024, are summarized as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Notes payable – Community Development Equity Funds

​

$

928

​

$

1,247

Securities sold under reverse repurchase agreements

​

 

48,467

​

 

64,444

Short-term borrowings from Federal Reserve Bank

​

 

—

​

 

180,000

Overnight borrowings from the Federal Home Loan Bank

​

 

330,000

​

 

333,000

​

​

​

​

​

​

​

​

​

$

379,395

​

$

578,691

​

Short-term borrowings from the Federal Reserve Bank at December 31, 2024, were part of the Federal Reserve Bank’s Bank Term Funding Program (BTFP). The BTFP borrowing matured and was repaid in January 2025 and had a fixed interest rate of 4.83%. The line was secured primarily by the Bank’s held-to-maturity investment securities, with assets pledged totaling approximately $187.7 million as of December 31, 2024. As of December 31, 2025, the Company had no outstanding borrowings from the Federal Reserve Bank.

The Bank enters into sales of securities under agreements to repurchase (reverse repurchase agreements). Reverse repurchase agreements are treated as financings, and the obligations to repurchase securities sold are reflected as a liability in the statements of financial condition. The dollar amount of securities underlying the agreements remains in the asset accounts. Securities underlying the agreements are held by the Bank during the agreement period. All agreements are written on a term of one-month or less.

Short-term borrowings had weighted average interest rates of 3.58% at December 31, 2025, compared to 4.32% at December 31, 2024. Short-term borrowings averaged approximately $386.7 million and $433.8 million for the years ended December 31, 2025 and 2024, respectively. The maximum amounts outstanding at any month end were $468.6 million and $578.7 million, respectively, during those same years.

The following table represents the Company’s securities sold under reverse repurchase agreements, which contractually mature daily, at December 31, 2025 and 2024:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

 

​

(In Thousands)

​

​

​

​

​

​

​

Mortgage-backed securities – GNMA, FNMA, FHLMC

​

$

48,467

​

$

64,444

​
v3.25.4
Federal Reserve Bank Borrowings
 12 Months Ended
Dec. 31, 2025
Federal Reserve Bank Borrowings  
Federal Reserve Bank Borrowings

Note 10:      Federal Reserve Bank Borrowings

At December 31, 2025 and 2024, the Bank had $305.7 million and $343.4 million, respectively, available under a primary line-of-credit borrowing arrangement with the Federal Reserve Bank. The line is secured primarily by consumer and commercial loans. There were no amounts borrowed under this arrangement at December 31, 2025 or 2024. The Bank borrowed and repaid funds under this arrangement during the year ended December 31, 2025.

As discussed in Note 9, in January 2024, the Bank borrowed $180.0 million under the Federal Reserve Bank’s BTFP, which was repaid upon maturity in January 2025.
v3.25.4
Subordinated Debentures Issued to Capital Trusts
 12 Months Ended
Dec. 31, 2025
Subordinated Debentures Issued to Capital Trusts  
Subordinated Debentures Issued to Capital Trusts

Note 11:      Subordinated Debentures Issued to Capital Trusts

In November 2006, Great Southern Capital Trust II (Trust II), a statutory trust formed by the Company for the purpose of issuing the securities, issued a $25.0 million aggregate liquidation amount of floating rate cumulative trust preferred securities. The Trust II securities bore a floating distribution rate equal to 90-day LIBOR plus 1.60% through June 30, 2023. After June 30, 2023, the Trust II securities bear a floating distribution rate equal to three-month CME Term SOFR, plus a spread adjustment for the change from LIBOR, plus 1.60%. The Trust II securities became redeemable at the Company’s option in February 2012, and if not sooner redeemed, mature on February 1, 2037. The Trust II securities were sold in a private transaction exempt from registration under the Securities Act of 1933, as amended. The gross proceeds of the offering were used to purchase Junior Subordinated Debentures from the Company totaling $25.8 million and bearing an interest rate identical to the distribution rate on the Trust II securities. The initial interest rate on the Trust II debentures was 6.98%. The interest rate was 5.72% and 6.43% at December 31, 2025 and 2024, respectively.

At December 31, 2025 and 2024, subordinated debentures issued to capital trusts were as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Subordinated debentures

​

$

25,774

  ​ ​ ​

$

25,774

​
v3.25.4
Subordinated Notes
 12 Months Ended
Dec. 31, 2025
Subordinated Notes  
Subordinated Notes

Note 12:      Subordinated Notes

On June 10, 2020, the Company completed the public offering and sale of $75.0 million of its subordinated notes. The notes were due June 15, 2030, and had a fixed interest rate of 5.50% until June 15, 2025, at which time the rate was to begin floating at a rate expected to be equal to three-month term Secured Overnight Financing Rate (SOFR) plus 5.325%. The notes were sold at par, resulting in net proceeds, after underwriting discounts and commissions, legal, accounting and other professional fees, of approximately $73.5 million. Total debt issuance costs of approximately $1.5 million were deferred and amortized over the expected life of the notes, which was five years.

On June 15, 2025, in accordance with the terms of the notes, the Company redeemed all $75.0 million aggregate principal amount of the subordinated notes at a redemption price equal to 100% of their principal amount, plus accrued and unpaid interest.

Amortization of the debt issuance costs during the years ended December 31, 2025, 2024 and 2023, totaled $124,000, $297,000 and $297,000, respectively, and is included in interest expense on subordinated notes in the consolidated statements of income. This resulted in an imputed interest rate of 5.91%, 5.92% and 5.94%, respectively, for the years ended December 31, 2025, 2024 and 2023.

At December 31, 2025 and 2024, subordinated notes are summarized as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Subordinated notes

​

$

—

​

$

75,000

Less: unamortized debt issuance costs

​

 

—

​

 

124

​

​

$

—

​

$

74,876

​
v3.25.4
Income Taxes
 12 Months Ended
Dec. 31, 2025
Income Taxes  
Income Taxes

Note 13:     Income Taxes

On July 4, 2025, the One Big Beautiful Bill Act (“OBBBA”) was enacted in the U.S. The OBBBA includes significant provisions, such as the permanent extension of certain expiring provisions of the Tax Cuts and Jobs Act, modifications to the international tax framework and the restoration of favorable tax treatment for certain business provisions. The legislation has multiple effective dates, with certain provisions effective in 2025 and others implemented through 2027. Provisions effective in 2025 did not have a significant impact on the Company’s operations or financial statements.

The Company files a consolidated federal income tax return. As of December 31, 2025 and 2024, retained earnings included approximately $17.5 million for which no deferred income tax liability had been recognized. This amount represents an allocation of income to bad debt deductions for tax purposes only for tax years prior to 1988. If the Bank were to liquidate, the entire amount would have to be recaptured and would create income for tax purposes only, which would be subject to the then-current corporate income tax rate. The unrecorded deferred income tax liability on the above amount was approximately $4.3 million at both December 31, 2025 and 2024.

All income is from continuing operations and is from a single country, the United States of America. During the years ended December 31, 2025, 2024 and 2023, the provision for income taxes included these components:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Current federal income tax expense

​

$

16,016

​

$

11,392

​

$

12,825

Current state income tax expense

​

 

1,623

​

 

1,841

​

 

1,734

Deferred income tax expense

​

 

(1,315)

​

 

457

​

 

2,985

​

​

​

​

​

​

​

​

​

​

Income tax expense

​

$

16,324

​

$

13,690

​

$

17,544

​

The tax effects of temporary differences related to deferred taxes shown on the statements of financial condition were:

​

​

​

​

​

​

​

​

​

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

Deferred tax assets

 

​

  ​

 

​

  ​

Allowance for credit losses

​

$

15,935

​

$

15,933

Liability for unfunded commitments

​

​

2,103

​

​

2,092

Interest on nonperforming loans

​

 

39

​

 

93

Accrued expenses and other

​

 

1,479

​

 

2,123

Capital loss carryforward

​

 

240

​

 

158

Tax credit carryforward

​

​

3,047

​

​

—

Unrealized loss on available-for-sale securities

​

​

9,005

​

​

15,055

Unrealized loss on securities transferred to held-to-maturity securities

​

​

127

​

​

64

Unrealized loss on active cash flow derivatives

​

​

1,375

​

​

4,186

Income recognized for tax in excess of book related to terminated cash flow derivatives

​

 

—

​

 

1,528

Deferred income

​

 

75

​

 

100

​

​

 

33,425

​

 

41,332

​

​

​

​

​

​

​

Deferred tax liabilities

​

 

  ​

​

 

  ​

Tax depreciation in excess of book depreciation

​

 

(7,256)

​

 

(6,654)

Partnership tax credits

​

 

(333)

​

 

(1,899)

Prepaid expenses

​

 

(1,035)

​

 

(781)

Difference in basis for acquired assets and liabilities

​

​

(346)

​

​

(31)

Unrealized gain on terminated cash flow derivatives

​

 

—

​

 

(1,528)

Other

​

 

(353)

​

 

(263)

​

​

 

(9,323)

​

 

(11,156)

​

​

​

​

​

​

​

Net deferred tax asset

​

$

24,102

​

$

30,176

​

Reconciliations of the Company’s effective tax rates to the statutory corporate tax rates were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

​

​

(Dollars In Thousands)

​

Tax at statutory rate

 

$

18,332

​

21.0

%  

$

15,854

​

21.0

%  

$

17,922

​

21.0

%

Nontaxable interest and dividends

 

​

(205)

​

(0.2)

 

​

(378)

​

(0.5)

 

​

(433)

​

(0.5)

​

U.S. federal tax credits, net (predominantly low-income housing)

 

​

(3,853)

​

(4.4)

 

​

(3,319)

​

(4.4)

 

​

(2,290)

​

(2.7)

​

State income/franchise taxes, net of federal benefit

 

​

1,354

​

1.6

 

​

1,279

​

1.7

 

​

1,467

​

1.7

​

Other

 

​

696

​

0.7

 

​

254

​

0.3

 

​

878

​

1.1

​

​

 

$

16,324

​

18.7

%  

$

13,690

​

18.1

%  

$

17,544

​

20.6

%

​

The Company and its consolidated subsidiaries have not been audited recently by the Internal Revenue Service (IRS). As a result, federal tax years through December 31, 2021 are now closed. In addition, there were no pending audits by any state jurisdiction at December 31, 2025.

During the years ended December 31, 2025, 2024 and 2023, the Company paid U.S. federal income taxes totaling $3.0 million, $1.8 million and $6.3 million, respectively, and paid taxes to various state jurisdictions totaling $1.3 million, $1.9 million and $1.6 million, respectively. In addition, in 2025, the Company received a refund of $19,000 from one state jurisdiction and federal income tax refunds totaling $65,000. In 2024, the Company received federal income tax refunds totaling $218,000. In 2023, the Company received federal income tax refunds totaling $485,000.

Tax payments made to individual state jurisdictions representing five percent or more of total income taxes paid (net of refunds) in the years ended December 31, 2025, 2024 and 2023, respectively, included: for 2025, Illinois $345,000 and Colorado $390,000; for 2024, Minnesota $622,000, Colorado $313,000, Kansas $287,000 and Illinois $192,000; for 2023, Minnesota $703,000.

During the years ended December 31, 2025 and 2024, the state and local jurisdictions that contribute to the majority (totaling greater than 50%) of the effect of the state and local income tax expense included Minnesota, Colorado, and Illinois. During the year ended December 31, 2023, the state and local jurisdictions that contribute to the majority (totaling greater than 50%) of the effect of the state and local income tax expense included Minnesota and Illinois.
v3.25.4
Disclosures About Fair Value of Financial Instruments
 12 Months Ended
Dec. 31, 2025
Disclosures About Fair Value of Financial Instruments  
Disclosures About Fair Value of Financial Instruments

Note 14:      Disclosures About Fair Value of Financial Instruments

ASC Topic 820, Fair Value Measurements, defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Topic 820 also specifies a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

●Quoted prices in active markets for identical assets or liabilities (Level 1): Inputs that are quoted unadjusted prices in active markets for identical assets that the Company has the ability to access at the measurement date. An active market for the asset is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.
●Other observable inputs (Level 2): Inputs that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from sources independent of the reporting entity including quoted prices for similar assets, quoted prices for securities in inactive markets and inputs derived principally from or corroborated by observable market data by correlation or other means.
●Significant unobservable inputs (Level 3): Inputs that reflect assumptions of a source independent of the reporting entity or the reporting entity’s own assumptions that are supported by little or no market activity or observable inputs.

Financial instruments are broken down by recurring or nonrecurring measurement status. Recurring assets are initially measured at fair value and are required to be remeasured at fair value in the financial statements at each reporting date. Assets measured on a nonrecurring basis are assets that, due to an event or circumstance, were required to be remeasured at fair value after initial recognition in the financial statements at some time during the reporting period.

The Company considers transfers between the levels of the hierarchy to be recognized at the end of related reporting periods.

Recurring Measurements

The following table presents the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fell at December 31, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Fair Value Measurements Using

​

​

​

​

​

Quoted Prices

​

​

​

​

​

​

​

​

​

​

​

in Active

​

​

​

​

​

​

​

​

​

​

​

Markets

​

Other

​

Significant

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

​

 

​

​

 

Assets

 

Inputs

​

Inputs

​

  ​ ​ ​ ​

Fair Value

  ​ ​ ​ ​

(Level 1)

  ​ ​ ​ ​

(Level 2)

  ​ ​ ​ ​

(Level 3)

​

 

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

Available-for-sale securities

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

301,249

​

$

—

​

$

301,249

​

$

—

Agency collateralized mortgage obligations

​

 

115,333

​

 

—

​

 

115,333

​

 

—

States and political subdivisions securities

​

 

51,398

​

 

—

​

 

51,398

​

 

—

Small Business Administration securities

​

 

55,851

​

 

—

​

 

55,851

​

 

—

Interest rate derivative asset

​

 

5,663

​

 

—

​

 

5,663

​

 

—

Interest rate derivative liability

​

 

(11,236)

​

 

—

​

 

(11,236)

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

 

​

​

 

  ​

​

 

​

​

 

  ​

Available-for-sale securities

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

305,907

​

$

—

​

$

305,907

​

$

—

Agency collateralized mortgage obligations

​

 

113,624

​

 

—

​

 

113,624

​

 

—

States and political subdivisions securities

​

 

55,948

​

 

—

​

 

55,948

​

 

—

Small Business Administration securities

​

 

57,894

​

 

—

​

 

57,894

​

 

—

Interest rate derivative asset

​

 

8,065

​

 

—

​

 

8,065

​

 

—

Interest rate derivative liability

​

 

(25,000)

​

 

—

​

 

(25,000)

​

 

—

​

The following is a description of inputs and valuation methodologies used for assets recorded at fair value on a recurring basis and recognized in the accompanying statements of financial condition at December 31, 2025 and 2024, as well as the general classification of such assets pursuant to the valuation hierarchy. There were no significant changes in the valuation techniques during the year ended December 31, 2025.

Available-for-Sale Securities. Investment securities available-for-sale are recorded at fair value on a recurring basis. The fair values used by the Company are obtained from an independent pricing service, which represent either quoted market prices for the identical asset or fair values determined by pricing models, or other model-based valuation techniques, that consider observable market data, such as interest rate volatilities, SOFR yield curve, credit spreads and prices from market makers and live trading systems. Recurring Level 2 securities include U.S. government agency securities, mortgage-backed securities, state and municipal bonds and certain other investments. Inputs used for valuing Level 2 securities include observable data that may include dealer quotes, benchmark yields, market spreads, live trading levels and market consensus prepayment speeds, among other things. Additional inputs include indicative values derived from the independent pricing service’s proprietary computerized models. There were no recurring Level 3 securities at December 31, 2025 or December 31, 2024.

Interest Rate Derivatives. The fair value is estimated using forward-looking interest rate curves and is determined using observable market rates and, therefore, are classified within Level 2 of the valuation hierarchy.

Nonrecurring Measurements

The following tables present the fair value measurement of assets measured at fair value on a nonrecurring basis and the level within the fair value hierarchy in which the fair value measurements fell at December 31, 2025 and 2024:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Fair Value Measurements Using

​

​

​

​

​

Quoted

​

​

​

​

​

​

​

​

​

​

​

Prices

​

​

​

​

​

​

​

​

​

​

​

in Active

​

​

​

​

​

​

​

​

​

​

​

Markets

​

Other

​

Significant

​

 

​

​

 

for Identical

 

Observable

​

Unobservable

​

 

​

​

 

Assets

 

Inputs

​

Inputs

​

  ​ ​ ​

Fair Value

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

​

 

(In Thousands)

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

Collateral-dependent loans

​

$

—

​

$

—

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreclosed assets held for sale

​

$

65

​

$

—

​

$

—

​

$

65

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

 

​

​

 

  ​

​

 

  ​

​

 

​

Collateral-dependent loans

​

$

701

​

$

—

​

$

—

​

$

701

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreclosed assets held for sale

​

$

—

​

$

—

​

$

—

​

$

—

​

Following is a description of the valuation methodologies used for assets measured at fair value on a nonrecurring basis and recognized in the accompanying statements of financial condition, as well as the general classification of such assets pursuant to the valuation hierarchy. For assets classified within Level 3 of the fair value hierarchy, the process used to develop the reported fair value is described below.

Loans Held for Sale. Mortgage loans held for sale are recorded at the lower of carrying value or fair value. The fair value of mortgage loans held for sale is based on what secondary markets are currently offering for portfolios with similar characteristics. As such, the Company classifies mortgage loans held for sale as Nonrecurring Level 2. Write-downs to fair value typically do not occur as the Company generally enters into commitments to sell individual mortgage loans at the time the loan is originated to reduce market risk. The Company typically does not have commercial loans held for sale. At December 31, 2025 and 2024, the aggregate fair value of mortgage loans held for sale was not materially different than their cost. Accordingly, no mortgage loans held for sale were marked down and reported at fair value.

Collateral-Dependent Loans. The Company records collateral-dependent loans as Nonrecurring Level 3. If a loan’s fair value as estimated by the Company is less than its carrying value, the Company either records a charge-off of the portion of the loan that exceeds the fair value or establishes a reserve within the allowance for credit losses specific to the loan. Loans for which such charge-offs or reserves were recorded during the years ended December 31, 2025 and December 31, 2024, are shown in the table above (net of reserves).

Foreclosed Assets Held for Sale. Foreclosed assets held for sale are initially recorded at fair value less estimated cost to sell at the date of foreclosure. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated cost to sell. Foreclosed assets held for sale are classified within Level 3 of the fair value hierarchy.

Fair Value of Financial Instruments

The following methods were used to estimate the fair value of all other financial instruments recognized in the accompanying statements of financial condition at amounts other than fair value.

Cash and Cash Equivalents and Federal Home Loan Bank Stock. The carrying amount approximates fair value.

Held-to-Maturity Securities. Fair values for held-to-maturity securities are estimated based on quoted market prices of similar securities. For these securities, the Company obtains fair value measurements from an independent pricing service, which represent either quoted market prices for the identical asset or fair values determined by pricing models, or other model-based valuation techniques, that consider observable market data, such as interest rate volatilities, SOFR yield curve, credit spreads and prices from market makers and live trading systems. These securities include U.S. government agency securities, mortgage-backed securities, state and municipal bonds and certain other investments.

Loans and Interest Receivable. The fair value of loans is estimated on an exit price basis incorporating contractual cash flows, prepayment discount spreads, credit loss and liquidity premiums. Loans with similar characteristics are aggregated for purposes of the calculations. The carrying amount of accrued interest receivable approximates its fair value.

Deposits and Accrued Interest Payable. The fair value of demand deposits and savings accounts is the amount payable on demand at the reporting date, i.e., their carrying amounts. The fair value of fixed maturity certificates of deposit is estimated based on a discounted cash flow calculation using the average advances yield curve from 11 districts of the FHLB for the as of date. The carrying amount of accrued interest payable approximates its fair value.

Short-Term Borrowings. The carrying amount approximates fair value.

Subordinated Debentures Issued to Capital Trusts. The subordinated debentures have floating rates that reset quarterly. The carrying amount of these debentures approximates their fair value.

Subordinated Notes. The fair values used by the Company are obtained from independent sources and are derived from quoted market prices of the Company’s subordinated notes and quoted market prices of other subordinated debt instruments with similar characteristics.

Commitments to Originate Loans, Letters of Credit and Lines of Credit. The fair value of commitments is estimated using the fees currently charged to enter into similar agreements, taking into account the remaining terms of the agreements and the present creditworthiness of the counterparties. For fixed rate loan commitments, fair value also considers the difference between current levels of interest rates and the committed rates. The fair value of letters of credit is based on fees currently charged for similar agreements or on the estimated cost to terminate them or otherwise settle the obligations with the counterparties at the reporting date.

​

The following table presents estimated fair values of the Company’s financial instruments not recorded at fair value in the financial statements. The fair values of certain of these instruments were calculated by discounting expected cash flows, which involves significant judgments by management and uncertainties. Fair value is the estimated amount at which financial assets or liabilities could be exchanged in a current transaction between willing parties, other than in a forced or liquidation sale. Because no market exists for certain of these financial instruments and because management does not intend to sell these financial instruments, the Company does not know whether the fair values shown below represent values at which the respective financial instruments could be sold individually or in the aggregate.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

​

​

Carrying

​

Fair

​

Hierarchy

​

Carrying

​

Fair

​

Hierarchy

​

  ​ ​ ​

Amount

  ​ ​ ​

Value

  ​ ​ ​

Level

  ​ ​ ​

Amount

  ​ ​ ​

Value

  ​ ​ ​

Level

​

​

(Dollars in Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

189,554

​

$

189,554

 

1

​

$

195,756

​

$

195,756

 

1

Held-to-maturity securities

​

​

179,200

​

​

162,629

​

2

​

​

187,433

​

​

162,765

​

2

Mortgage loans held for sale

​

 

6,838

​

 

6,838

 

2

​

 

6,937

​

 

6,937

 

2

Loans, net of allowance for credit losses

​

 

4,356,853

​

 

4,261,757

 

3

​

 

4,690,393

​

 

4,529,729

 

3

Interest receivable

​

 

18,068

​

 

18,068

 

3

​

 

20,430

​

 

20,430

 

3

Investment in FHLB stock and other assets

​

 

20,079

​

 

20,079

 

3

​

 

28,392

​

 

28,392

 

3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

 

4,482,774

​

 

4,480,770

 

3

​

 

4,605,549

​

 

4,602,312

 

3

Short-term borrowings

​

 

379,395

​

 

379,395

 

3

​

 

578,691

​

 

578,691

 

3

Subordinated debentures

​

 

25,774

​

 

25,774

 

3

​

 

25,774

​

 

25,774

 

3

Subordinated notes

​

 

—

​

 

—

 

2

​

 

74,876

​

 

74,438

 

2

Interest payable

​

 

3,612

​

 

3,612

 

3

​

 

12,761

​

 

12,761

 

3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unrecognized financial instruments (net of contractual value)

​

 

​

​

 

​

 

​

​

 

​

​

 

​

 

​

Commitments to originate loans

​

 

—

​

 

—

 

3

​

 

—

​

 

—

 

3

Letters of credit

​

 

53

​

 

53

 

3

​

 

72

​

 

72

 

3

Lines of credit

​

 

—

​

 

—

 

3

​

 

—

​

 

—

 

3

​
v3.25.4
Derivatives and Hedging Activities
 12 Months Ended
Dec. 31, 2025
Derivatives and Hedging Activities  
Derivatives and Hedging Activities

Note 15:      Derivatives and Hedging Activities

Risk Management Objective of Using Derivatives

The Company is exposed to certain risks arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity and credit risk, primarily by managing the amount, sources and duration of its assets and liabilities. In the normal course of business, the Company may use derivative financial instruments (primarily interest rate swaps) from time to time to assist in its interest rate risk management. The Company has interest rate derivatives that result from a service provided to certain qualifying loan customers that are not used to manage interest rate risk in the Company’s assets or liabilities and are not designated in a qualifying hedging relationship. The Company manages a matched book with respect to its derivative instruments in order to minimize its net risk exposure resulting from such transactions. In addition, the Company has interest rate derivatives that have been designated in a qualified hedging relationship.

Nondesignated Hedges

The Company has interest rate swaps that are not designated in a qualifying hedging relationship. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain loan customers. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings.

At December 31, 2025, the Company had six interest rate swaps, totaling $114.4 million in notional amount with commercial customers, and six interest rate swaps with the same notional amount with third parties related to its program. In addition, at December 31, 2025, the Company had one participation loan purchased totaling $199,000, in which the lead institution has an interest rate swap with their customer and the economics of the counterparty swap are passed along to the Company through the loan participation. At December 31, 2024, the Company had five interest rate swaps totaling $86.7 million in notional amount with commercial customers, and five interest rate swaps with the same notional amount with third parties related to its program. In addition, at December 31, 2024, the Company had one participation loan purchased totaling $8.4 million, in which the lead institution has an interest rate swap with their customer and the economics of the counterparty swap are passed along to the Company through the loan participation. During the years ended December 31, 2025, 2024 and 2023, the Company recognized net losses of $62,000, $58,000 and $337,000, respectively, in non-interest income related to changes in the fair value of these swaps.

Fair Value Hedges

Interest Rate Swaps. As a strategy to maintain acceptable levels of exposure to the risk of changes in future cash flows due to interest rate fluctuations, in February 2023, the Company entered into interest rate swap transactions. These transactions hedged the risk of certain of its fixed rate brokered deposits. The total notional amount of the swaps was $95 million with a termination date of February 28, 2025. Under the terms of the swaps, the Company received a fixed rate of interest of 4.65% and paid a floating rate of interest equal to USD-SOFR-COMPOUND plus a spread. The floating rate reset monthly and net settlements of interest due to/from the counterparty occurred monthly. To the extent that the fixed rate of interest exceeded USD-SOFR-COMPOUND plus the spread, the Company received net interest settlements, which were recorded as a reduction of deposit interest expense. If USD-SOFR-COMPOUND plus the spread exceeded the fixed rate of interest, the Company was required to pay net settlements to the counterparty and record those net payments as interest expense on deposits.

In January 2024, the Company elected to terminate these swaps prior to their contractual termination date in 2025. The Company received a net settlement payment from the swap counterparty totaling $26,500 upon termination. At the time of the early termination, the Company recorded a market value adjustment to the brokered deposits of $163,000, which was amortized as a reduction of interest expense from January 2024 through February 2025.

Cash Flow Hedges

Interest Rate Swaps. As a strategy to maintain acceptable levels of exposure to the risk of changes in future cash flows due to interest rate fluctuations, in October 2018, the Company entered into an interest rate swap transaction as part of its ongoing interest rate management strategies to hedge the risk of its floating rate loans. The notional amount of the swap was $400 million with a termination date of October 6, 2025. Under the terms of the swap, the Company received a fixed rate of interest of 3.018% and paid a floating rate of interest equal to one-month USD-LIBOR. The floating rate was reset monthly and net settlements of interest due to/from the counterparty also occurred monthly. To the extent that the fixed rate of interest exceeded one-month USD-LIBOR, the Company received net interest settlements which were recorded as loan interest income. If USD-LIBOR exceeded the fixed rate of interest, the Company was required to pay net settlements to the counterparty and record those net payments as a reduction of interest income on loans.

In March 2020, the Company and its swap counterparty mutually agreed to terminate the $400 million interest rate swap prior to its contractual maturity. The Company was paid $45.9 million from its swap counterparty as a result of this termination. This $45.9 million, less the accrued interest portion and net of deferred income taxes, was reflected in the Company’s stockholders’ equity as part of Accumulated Other Comprehensive Income (AOCI). This balance was accreted to interest income on loans monthly through the original contractual termination date of October 6, 2025. This has the effect of adjusting AOCI and increasing Net Interest Income and Retained Earnings over the period. The Company recorded interest income of $6.2 million, $8.1 million and $8.1 million related to this terminated swap in each of the years ended December 31, 2025, 2024 and 2023, respectively. After October 6, 2025, the accretion of interest income related to the terminated swap concluded.

In March 2022, the Company entered into an interest rate swap transaction as part of its ongoing interest rate management strategies to hedge the risk of its floating rate loans. The notional amount of the swap was $300 million, with a termination date of March 1, 2024. This interest rate swap reached its contractual termination date of March 1, 2024 and there has been no further interest income impact related to this swap after that date. The Company recorded a reduction of loan interest income related to this swap transaction of $1.9 million and $10.4 million for the years ended December 31, 2024 and 2023, respectively.

In July 2022, the Company entered into two additional interest rate swap transactions as part of its ongoing interest rate management strategies to hedge the risk of its floating rate loans. The notional amount of each swap is $200 million with an effective date of May 1, 2023 and a termination date of May 1, 2028. Under the terms of one swap, the Company receives a fixed rate of interest of 2.628% and pays a floating rate of interest equal to one-month USD-SOFR OIS. Under the terms of the other swap, the Company receives a fixed rate of interest of 5.725% and pays a floating rate of interest equal to one-month USD-Prime. In each case, the floating rate resets monthly and net settlements of interest due to/from the counterparty also occur monthly. To the extent the fixed rate of interest exceeds the floating rate of interest, the Company receives net interest settlements, which is recorded as loan interest income. If the floating rate of interest exceeds the fixed rate of interest, the Company pays net settlements to the counterparty and records those net payments as a reduction of interest income on loans. At December 31, 2025, the USD-Prime rate was 6.75% and the one-month USD-SOFR OIS rate was 3.78659%. The Company recorded a reduction of loan interest income related to the two July 2022 interest rate swaps of $6.6 million, $10.4 million and $7.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.

The effective portion of the gain or loss on the derivative is reported as a component of other comprehensive income and reclassified into earnings in the same period or periods during which the hedged transaction affected earnings. Gains and losses on the derivative representing either hedge ineffectiveness or hedge components excluded from the assessment of effectiveness are recognized in current earnings. During the years ended December 31, 2025 and 2024, the Company recognized no non-interest income related to changes in the fair value of these derivatives.

The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Statements of Financial Condition:

​

​

​

​

​

​

​

​

​

​

​

​

Location in

​

Fair Value

​

​

Consolidated Statements

​

December 31, 

​

December 31, 

​

  ​ ​ ​

of Financial Condition

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

Derivatives designated as hedging instruments

​

​

​

​

  ​

 

​

  ​

​

​

​

​

​

​

​

​

​

Derivative Liabilities

​

​

​

​

​

​

​

​

Active interest rate swaps

​

Accrued expenses and other liabilities

​

$

5,590

​

$

17,014

​

​

​

​

​

​

​

​

​

Total derivatives designated as hedging instruments

​

​

​

$

5,590

​

$

17,014

​

​

​

​

​

​

​

​

​

Derivatives not designated as hedging instruments

 

​

​

 

​

​

 

​

​

​

​

​

​

​

​

​

​

Derivative Assets

 

​

​

 

​

​

 

​

Interest rate products

 

Prepaid expenses and other assets

​

$

5,663

​

$

8,065

​

​

​

​

​

​

​

​

​

Total derivatives not designated as hedging instruments

​

​

​

$

5,663

​

$

8,065

​

 

​

​

 

​

​

 

​

Derivative Liabilities

 

​

​

 

​

​

 

​

Interest rate products

 

Accrued expenses and other liabilities

​

$

5,646

​

$

7,986

​

 

​

​

 

​

​

 

​

Total derivatives not designated as hedging instruments

​

​

​

$

5,646

​

$

7,986

​

The following table presents the effect of cash flow hedge accounting through AOCI on the statements of comprehensive income:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amount of Gain (Loss)

​

​

Recognized in AOCI

​

​

Year Ended December 31,

Cash Flow Hedges

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

 

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Terminated interest rate swaps, net of income taxes

​

$

(4,801)

​

$

(6,286)

​

$

(6,267)

Active interest rate swaps, net of income taxes

​

​

8,614

​

​

214

​

​

10,541

​

​

$

3,813

​

$

(6,072)

​

$

4,274

​

The following table presents the effect of cash flow hedge accounting on the statements of income:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Year Ended December 31, 

Cash Flow Hedges

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

Interest

​

Interest

​

Interest

​

Interest

​

Interest

​

Interest

​

  ​ ​ ​

Income

  ​ ​ ​

Expense

  ​ ​ ​

Income

  ​ ​ ​

Expense

  ​ ​ ​

Income

  ​ ​ ​

Expense

​

 

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Terminated interest rate swaps

​

$

6,209

​

$

—

​

$

8,145

​

$

—

​

$

8,122

​

$

—

Active interest rate swaps

​

​

(6,624)

​

​

—

​

​

(12,281)

​

​

—

​

​

(17,618)

​

​

—

​

​

$

(415)

​

$

—

​

$

(4,136)

​

$

—

​

$

(9,496)

​

$

—

​

Agreements with Derivative Counterparties

The Company has agreements with its derivative counterparties. If the Company defaults on any of its indebtedness, including a default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. If the Bank fails to maintain its status as a well-capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements. Similarly, the Company could be required to settle its obligations under certain of its agreements if certain regulatory events occur, such as the issuance of a formal directive, or if the Company’s credit rating is downgraded below a specified level.

At December 31, 2025, the termination value of derivatives with our derivative dealer counterparties (related to loan level swaps with commercial lending customers and interest rate swaps to hedge risk related to the Company’s variable rate loans) in an overall net asset position, which included accrued interest but excluded any adjustment for nonperformance risk, related to these agreements was $17,000. The Company has minimum collateral posting thresholds with its derivative dealer counterparties. At December 31, 2025, the Company had given cash collateral to one derivative counterparty of $1.6 million to cover its net fair value position. This counterparty position included collateral from the counterparty of $4.5 million for commercial lending swaps and collateral from the Company of $6.0 million for interest rate swaps related to variable rate loans.

At December 31, 2024, the termination value of derivatives with our derivative dealer counterparties (related to loan level swaps with commercial lending customers and interest rate swaps to hedge risk related to the Company’s variable rate loans) in an overall net asset position, which included accrued interest but excluded any adjustment for nonperformance risk, related to these agreements was $79,000. The Company has minimum collateral posting thresholds with its derivative dealer counterparties. At December 31, 2024, the Company had given cash collateral to one derivative counterparty of $9.9 million to cover its net fair value position. This counterparty position included collateral from the counterparty of $8.1 million for commercial lending swaps and collateral from the Company of $17.7 million for interest rate swaps related to variable rate loans.

If the Company had breached any of these provisions at December 31, 2025 or December 31, 2024, it could have been required to settle its obligations under the agreements at the termination value. Under the collateral agreements between the parties, either party may choose to provide cash or securities to satisfy its collateral requirements.
v3.25.4
Commitments and Credit Risk
 12 Months Ended
Dec. 31, 2025
Commitments and Credit Risk  
Commitments and Credit Risk

Note 16:      Commitments and Credit Risk

Commitments to Originate Loans

Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since a significant portion of the commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property and equipment, commercial real estate and residential real estate.

At December 31, 2025 and 2024, the Bank had outstanding commitments to originate loans and fund commercial construction loans aggregating approximately $-0- and $34.5 million, respectively. The commitments extend over varying periods of time with the majority being disbursed within a 30- to 180-day period.

Mortgage loans in the process of origination represent amounts that the Bank plans to fund within a normal period of 60 to 90 days, many of which are intended for sale to investors in the secondary market. Total mortgage loans in the process of origination amounted to approximately $14.1 million and $14.4 million at December 31, 2025 and 2024, respectively.

Letters of Credit

Standby letters of credit are irrevocable conditional commitments issued by the Bank to guarantee the performance of a customer to a third party. Financial standby letters of credit are primarily issued to support public and private borrowing arrangements, including commercial paper, bond financing and similar transactions. Performance standby letters of credit are issued to guarantee performance of certain customers under nonfinancial contractual obligations. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending loans to customers. Fees for letters of credit issued are initially recorded by the Bank as deferred revenue and are included in earnings at the termination of the respective agreements. Should the Bank be obligated to perform under the standby letters of credit, the Bank may seek recourse from the customer for reimbursement of amounts paid.

The Company had total outstanding standby letters of credit amounting to approximately $15.2 million and $16.8 million at December 31, 2025 and 2024, respectively, with no letters of credit having terms over five years.

Lines of Credit

Lines of credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Lines of credit generally have fixed expiration dates. Since a portion of the line may expire without being drawn upon, the total unused lines do not necessarily represent future cash requirements. The Bank evaluates each customer’s creditworthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Bank upon extension of credit, is based on management’s credit evaluation of the counterparty. Collateral held varies but may include accounts receivable, inventory, property and equipment, commercial real estate and residential real estate. The Bank uses the same credit policies in granting lines of credit as it does for on-balance-sheet instruments.

At December 31, 2025, the Bank had granted unused lines of credit to borrowers aggregating approximately $954.8 million and $208.2 million for commercial lines and open-end consumer lines, respectively. At December 31, 2024, the Bank had granted unused lines of credit to borrowers aggregating approximately $993.8 million and $205.6 million for commercial lines and open-end consumer lines, respectively.

Credit Risk

The Bank grants collateralized commercial, real estate and consumer loans primarily to customers in its market areas. Although the Bank has a diversified portfolio, loans (including FDIC-assisted acquired loans) aggregating approximately $709.3 million and $781.4 million at December 31, 2025 and 2024, respectively, were secured primarily by apartments, condominiums, residential and commercial land developments, industrial revenue bonds and other types of commercial properties in the St. Louis area.
v3.25.4
Additional Cash Flow Information
 12 Months Ended
Dec. 31, 2025
Additional Cash Flow Information  
Additional Cash Flow Information

Note 17:      Additional Cash Flow Information

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31,

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

Noncash Investing and Financing Activities

​

  ​

​

​

  ​

​

​

  ​

​

Foreclosed assets acquired in settlement of loans

​

$

255

​

$

15,771

​

$

142

Sale and financing of foreclosed assets

​

​

—

​

​

9,585

​

 

—

Conversion of premises and equipment to foreclosed assets

​

​

—

​

​

994

​

​

—

Increase in unfunded portion of investments in tax credit partnerships and corresponding liability for future funding upon accounting standard adoption

​

 

—

​

 

30,555

​

 

—

Dividends declared but not paid

​

 

4,761

​

 

4,692

​

 

4,722

​

​

​

​

​

​

​

​

​

​

Additional Cash Payment Information

​

 

​

​

 

​

​

 

​

Interest paid

​

 

122,648

​

 

129,019

​

​

100,405

Federal income taxes paid

​

​

3,000

​

​

1,800

​

​

6,310

Income taxes paid to state and local jurisdictions

​

 

1,327

​

 

1,853

​

​

1,578

​
v3.25.4
Employee Benefits
 12 Months Ended
Dec. 31, 2025
Employee Benefits  
Employee Benefits

Note 18:      Employee Benefits

The Company participates in the Pentegra Defined Benefit Plan for Financial Institutions (Pentegra DB Plan), a multiemployer defined benefit pension plan covering all employees who have met minimum service requirements. Effective July 1, 2006, this plan was closed to new participants. Employees already in the plan continue to accrue benefits. The Pentegra DB Plan’s Employer Identification Number is 13-5645888 and the Plan Number is 333. The Company’s policy is to fund pension cost accrued. Employer contributions charged to expense for this plan for the years ended December 31, 2025, 2024 and 2023, were approximately $1.5 million, $1.5 million and $1.7 million, respectively. The Company’s contributions to the Pentegra DB Plan were not more than 5% of the total contributions to the plan. The funded status of the plan as of July 1, 2025 and 2024, was 95.1% and 93.4%, respectively. The funded status was calculated by taking the market value of plan assets, which reflected contributions received through June 30, 2025 and 2024, respectively, divided by the funding target. No collective bargaining agreements are in place that require contributions to the Pentegra DB Plan.

The Company has a defined contribution retirement plan covering substantially all employees. The Company matches 100% of the employee’s contribution on the first 3% of the employee’s compensation and also matches an additional 50% of the employee’s contribution on the next 2% of the employee’s compensation. Employer contributions charged to expense for this plan for the years ended December 31, 2025, 2024 and 2023, were approximately $2.0 million, $1.8 million and $1.8 million, respectively.
v3.25.4
Stock Compensation Plans
 12 Months Ended
Dec. 31, 2025
Stock Compensation Plans  
Stock Compensation Plans

Note 19:      Stock Compensation Plans

The Company established the 2013 Equity Incentive Plan (the “2013 Plan”) for employees and directors of the Company and its subsidiaries. Under the plan, stock options or other awards could be granted with respect to 700,000 shares of common stock. On May 9, 2018, the Company’s stockholders approved the Great Southern Bancorp, Inc. 2018 Omnibus Incentive Plan (the “2018 Plan”). Upon the stockholders’ approval of the 2018 Plan, the 2013 Plan was frozen. As a result, no new stock options or other awards may be granted under the 2013 Plan; however, existing outstanding awards under the 2013 Plan were not affected. At December 31, 2025, 95,622 options were outstanding under the 2013 Plan.

The Company established the 2018 Plan for employees and directors of the Company and its subsidiaries. Under the plan, stock options or other awards could be granted with respect to 800,000 shares of common stock. On May 11, 2022, the Company’s stockholders approved the Great Southern Bancorp, Inc. 2022 Omnibus Incentive Plan (the “2022 Plan”). Upon the stockholders’ approval of the 2022 Plan, the 2018 Plan was frozen. As a result, no new stock options or other awards may be granted under the 2018 Plan; however, existing outstanding awards under the 2018 Plan were not affected. At December 31, 2025, 423,185 options were outstanding under the 2018 Plan.

The 2022 Plan provides for the grant from time to time to directors, emeritus directors, officers, employees and advisory directors of stock options, stock appreciation rights, restricted stock, restricted stock units, performance shares and performance units. The number of shares of common stock available for awards under the 2022 Plan is 900,000 (the “2022 Plan Limit”). Shares utilized for awards other than stock options and stock appreciation rights will be counted against the 2022 Plan Limit on a 2.5-to-1 basis. At December 31, 2025, 787,455 options were outstanding under the 2022 Plan.

Stock options may be either incentive stock options or nonqualified stock options, and the option price must be at least equal to the fair value of the Company’s common stock on the date of grant. Options generally are granted for a 10-year term and generally become exercisable in four cumulative annual installments of 25% commencing two years from the date of grant. The Compensation Committee has discretion to accelerate a participant’s right to exercise an option.

Stock awards may be granted upon terms and conditions determined solely at the discretion of the Compensation Committee.

The table below summarizes transactions under the Company’s stock compensation plans, all of which related to stock options granted under such plans:

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

Shares

  ​ ​ ​

Weighted

​

​

Available

​

Under

​

Average

​

​

to be Granted

​

Option

​

Exercise Price

​

​

​

​

​

​

​

​

Balance, January 1, 2023

 

694,850

 

1,064,917

 

$

53.671

Forfeited from terminated plan(s)

 

—

 

(9,100)

 

​

51.123

Granted from 2022 Plan

 

(210,300)

 

210,300

 

​

53.166

Exercised

 

—

 

(22,762)

 

​

38.830

Forfeited from current plan(s)

 

3,050

 

(3,050)

 

​

61.550

​

​

​

​

​

​

​

​

Balance, December 31, 2023

 

487,600

 

1,240,305

 

​

53.857

Forfeited from terminated plan(s)

​

—

​

(15,634)

​

​

51.289

Granted from 2022 Plan

​

(214,800)

​

214,800

​

​

61.706

Exercised

 

—

 

(203,601)

 

​

49.586

Forfeited from current plan(s)

 

28,549

 

(28,549)

 

​

57.483

​

​

​

​

​

​

​

​

Balance, December 31, 2024

 

301,349

 

1,207,321

​

​

55.921

Forfeited from terminated plan(s)

​

—

​

(14,784)

​

​

56.910

Granted from 2022 Plan

​

(224,975)

​

224,975

​

​

57.318

Exercised

 

—

 

(94,463)

 

​

51.029

Forfeited from current plan(s)

 

16,787

 

(16,787)

 

​

58.626

​

​

​

​

​

​

​

​

Balance, December 31, 2025

 

93,161

 

1,306,262

​

$

56.470

​

The Company’s stock option grants contain terms that provide for a graded vesting schedule whereby portions of the options vest in increments over the requisite service period. These options typically vest one-fourth at the end of each of years two, three, four and five from the grant date. As provided for under FASB ASC 718, the Company has elected to recognize compensation expense for options with graded vesting schedules on a straight-line basis over the requisite service period for the entire option grant. In addition, ASC 718 requires companies to recognize compensation expense based on the estimated number of stock options for which service is expected to be rendered. The Company’s historical forfeitures of its share-based awards have not been significant. Forfeitures are estimated annually based on historical information.

The fair value of each option award is estimated on the date of the grant using the Black-Scholes option pricing model with the following assumptions for the years ended December 31, 2025, 2024 and 2023:

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

​

​

​

​

​

​

​

​

​

​

 

Expected dividends per share

​

$

1.72

​

$

1.60

​

$

1.60

 

Risk-free interest rate

 

​

3.81

%  

​

4.31

%  

​

4.51

%

Expected life of options

 

​

6 years

​

​

6 years

​

​

6 years

​

Expected volatility

 

​

24.17

%  

​

25.48

%  

​

23.69

%

Weighted average fair value of options granted during year

​

$

12.03

​

$

15.01

​

$

11.69

​

​

Expected volatilities are based on the historical volatility of the Company’s stock price over the measured period. The expected life of options granted is based on actual historical exercise behavior of all employees and directors and approximates the graded vesting period of the options. Expected dividends are based on the annualized dividends declared at the time of the option grant. The risk-free interest rate is based on the average of the five-year treasury rate and the seven-year treasury rate on the grant date of the options.

The following table presents the activity related to options under all plans for the year ended December 31, 2025:

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

​

​

  ​ ​ ​

Weighted

​

​

​

​

Weighted

​

Average

​

​

​

​

Average

​

Remaining

​

​

​

​

Exercise

​

Contractual

​

 

Options

 

Price

 

Term

​

​

​

​

​

​

​

​

Options outstanding, January 1, 2025

 

1,207,321

​

$

55.921

 

6.80 years

Granted

 

224,975

​

​

57.318

 

​

Exercised

 

(94,463)

​

​

51.029

 

​

Forfeited

 

(31,571)

​

​

57.822

 

​

Options outstanding, December 31, 2025

 

1,306,262

​

​

56.470

 

6.69 years

​

​

​

​

​

​

​

​

Options exercisable, December 31, 2025

 

602,881

​

$

54.268

 

4.51 years

​

For the years ended December 31, 2025, 2024 and 2023, options granted were 224,975, 214,800, and 210,300, respectively. The total intrinsic value (amount by which the fair value of the underlying stock exceeds the exercise price of an option on exercise date) of options exercised during the years ended December 31, 2025, 2024 and 2023, was $911,000, $2.7 million and $354,000, respectively. Cash received from the exercise of options for the years ended December 31, 2025, 2024 and 2023, was $4.8 million, $10.1 million and $884,000, respectively. The actual tax benefit realized for the tax deductions from option exercises totaled $841,000, $2.5 million and $212,000 for the years ended December 31, 2025, 2024 and 2023, respectively. The total intrinsic value of options outstanding at December 31, 2025, 2024 and 2023, was $6.7 million, $5.4 million and $7.4 million, respectively. The total intrinsic value of options exercisable at December 31, 2025, 2024 and 2023, was $4.4 million, $3.3 million and $4.5 million, respectively.

The following table presents the activity related to nonvested options under all plans for the year ended December 31, 2025.

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

Weighted

  ​ ​ ​

Weighted

​

​

​

​

Average

​

Average

​

​

​

​

Exercise

​

Grant Date

​

  ​ ​ ​

Options

  ​ ​ ​

Price

  ​ ​ ​

Fair Value

​

​

​

​

​

​

​

​

​

Nonvested options, January 1, 2025

 

667,710

​

$

57.638

​

$

12.866

Granted

 

224,975

​

​

57.318

​

​

12.016

Vested this period

 

(169,810)

​

​

54.274

​

​

11.235

Nonvested options forfeited

 

(19,494)

​

​

57.294

​

​

12.653

​

​

​

​

​

​

​

​

​

Nonvested options, December 31, 2025

 

703,381

​

$

58.357

​

$

12.994

​

For the years ended December 31, 2025, 2024 and 2023, compensation expense for stock option grants was $1.9 million, $1.8 million and $1.6 million, respectively. At December 31, 2025, there was $8.7 million of total unrecognized compensation cost related to nonvested options granted under the Company’s plans. This compensation cost is expected to be recognized through 2031, with the majority of this expense recognized in 2026 and 2027.

​

The following table further summarizes information about stock options outstanding at December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Options Outstanding

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

​

​

​

​

​

Weighted

​

​

​

​

Options Exercisable

​

​

​

​

Average

​

Weighted

​

​

​

Weighted

​

​

​

​

Remaining

​

Average

​

​

​

Average

​

​

Number

​

Contractual

​

Exercise

​

Number

​

Exercise

Range of Exercise Prices

  ​ ​ ​ ​

Outstanding

  ​ ​ ​ ​

Term

  ​ ​ ​ ​

Price

  ​ ​ ​ ​

Exercisable

  ​ ​ ​ ​

Price

​

​

​

​

​

​

​

​

​

​

​

​

​

$41.300 to 41.740

 

118,345

 

3.86 years

​

$

41.635

 

118,345

​

$

41.635

$50.720 to 59.160

 

707,134

 

6.88 years

​

 

55.627

 

300,185

​

 

55.250

$60.150 to 65.670

 

480,783

 

7.11 years

​

 

61.361

 

184,351

​

 

60.778

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

1,306,262

 

6.69 years

​

$

56.470

 

602,881

​

$

54.268

​
v3.25.4
Significant Estimates and Concentrations
 12 Months Ended
Dec. 31, 2025
Significant Estimates and Concentration  
Significant Estimates and Concentration

Note 20:      Significant Estimates and Concentrations

GAAP requires disclosure of certain significant estimates and current vulnerabilities due to certain concentrations. Estimates related to the allowance for credit losses are reflected in Note 3. Current vulnerabilities due to certain concentrations of credit risk are discussed in the footnotes on loans, deposits and on commitments and credit risk.
v3.25.4
Accumulated Other Comprehensive Income
 12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income  
Accumulated Other Comprehensive Income

Note 21:      Accumulated Other Comprehensive Income

The components of accumulated other comprehensive income (AOCI), included in stockholders’ equity, are as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Net unrealized loss on available-for-sale securities

​

$

(36,599)

​

$

(61,191)

​

​

​

​

​

​

​

Net unrealized loss on held-to-maturity securities

​

​

(517)

​

​

(262)

​

​

​

​

​

​

​

Net unrealized loss on active derivatives used for cash flow hedges

​

​

(5,590)

​

​

(17,014)

​

​

​

​

​

​

​

Net unrealized gain on terminated derivatives used for cash flow hedges

​

 

—

​

 

6,209

​

​

 

(42,706)

​

 

(72,258)

​

​

​

​

​

​

​

Tax effect

​

 

10,506

​

 

17,896

​

​

​

​

​

​

​

Net-of-tax amount

​

$

(32,200)

​

$

(54,362)

​

Amounts reclassified from AOCI and the affected line items in the statements of income during the years ended December 31, 2025, 2024 and 2023, were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amounts Reclassified

  ​ ​ ​

​

​

​

from AOCI

​

Affected Line Item in the

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

Statements of Income

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Change in fair value of cash flow hedge

​

​

6,209

​

​

8,145

​

​

8,122

​

Amortization of realized gain on
  termination of cash flow hedge (total
   reclassification amount before tax)

​

​

​

​

​

​

​

​

​

​

​

​

Income taxes

​

 

(1,408)

​

 

(1,859)

​

 

(1,855)

 

Provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

​

Total reclassifications out of AOCI

​

$

4,801

​

$

6,286

​

$

6,267

 

  ​

​
v3.25.4
Regulatory Matters
 12 Months Ended
Dec. 31, 2025
Regulatory Matters  
Regulatory Matters

Note 22:      Regulatory Matters

The Company and the Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can result in certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct and material effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and the Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and the Bank’s assets, liabilities and certain off-balance-sheet items as calculated under GAAP, regulatory reporting practices, and regulatory capital standards. The Company’s and the Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors.

Quantitative measures established by regulatory reporting standards to ensure capital adequacy require the Bank to maintain minimum amounts and ratios (set forth in the table below as of December 31, 2025) of Total and Tier I Capital (as defined) to risk-weighted assets (as defined), of Tier I Capital (as defined) to adjusted tangible assets (as defined) and of Common Equity Tier 1 Capital (as defined) to risk-weighted assets (as defined). Management believes, as of December 31, 2025, that the Bank met all capital adequacy requirements to which it was then subject.

As of December 31, 2025, the most recent notification from the Bank’s regulators categorized the Bank as well capitalized under the regulatory framework for prompt corrective action. To be categorized as well capitalized as of December 31, 2025, the Bank must have maintained minimum Total capital, Tier I capital, Tier 1 Leverage capital and Common Equity Tier 1 capital ratios as set forth in the table. There are no conditions or events since that notification that management believes have changed the Bank’s category.

The Company and the Bank are subject to certain restrictions on the amount of dividends that may be declared without prior regulatory approval. At December 31, 2025 and 2024, the Company and the Bank exceeded their minimum capital requirements then in effect. The entities may not pay dividends which would reduce capital below the minimum requirements shown below. In addition to the minimum capital ratios, the capital rules include a capital conservation buffer, under which a banking organization must have Common Equity Tier 1 capital more than 2.5% above each of its minimum risk-based capital ratios in order to avoid restrictions on paying dividends, repurchasing shares, and paying certain discretionary bonuses. The net unrealized gain or loss on securities is not included in computing regulatory capital.

The Company’s and the Bank’s actual capital amounts and ratios are presented in the following table. No amount was deducted from capital for interest-rate risk.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

To Be Well

 

​

​

​

​

​

​

​

​

​

​

​

​

Capitalized Under

 

​

​

​

​

​

​

​

For Capital

​

Prompt Corrective

 

​

​

Actual

​

Adequacy Purposes

​

Action Provisions

 

​

  ​ ​ ​

Amount

  ​ ​ ​

Ratio

  ​ ​ ​

Amount

  ​ ​ ​

Ratio

  ​ ​ ​

Amount

  ​ ​ ​

Ratio

 

​

​

(Dollars In Thousands)

 

As of December 31, 2025

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Total capital

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Great Southern Bancorp, Inc.

​

$

744,073

 

15.3

%  

$

388,101

 

8.0

%  

​

N/A

 

N/A

​

Great Southern Bank

​

$

693,155

 

14.3

%  

$

388,030

 

8.0

%  

$

485,038

 

10.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

683,276

 

14.1

%  

$

291,075

 

6.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

632,369

 

13.0

%  

$

291,023

 

6.0

%  

$

388,030

 

8.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I leverage capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

683,276

 

12.2

%  

$

224,310

 

4.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

632,369

 

11.3

%  

$

224,275

 

4.0

%  

$

280,344

 

5.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common equity Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

658,276

 

13.6

%  

$

218,307

 

4.5

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

632,369

 

13.0

%  

$

218,267

 

4.5

%  

$

315,275

 

6.5

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2024

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Total capital

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Great Southern Bancorp, Inc.

​

$

809,221

 

15.4

%  

$

419,108

 

8.0

%  

​

N/A

 

N/A

​

Great Southern Bank

​

$

725,974

 

13.9

%  

$

418,985

 

8.0

%  

$

523,732

 

10.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

668,639

 

12.8

%  

$

314,331

 

6.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

660,411

 

12.6

%  

$

314,239

 

6.0

%  

$

418,985

 

8.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I leverage capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

668,639

 

11.2

%  

$

239,536

 

4.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

660,411

 

11.0

%  

$

239,487

 

4.0

%  

$

299,359

 

5.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common equity Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

643,639

 

12.3

%  

$

235,748

 

4.5

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

660,411

 

12.6

%  

$

235,679

 

4.5

%  

$

340,426

 

6.5

%

​
v3.25.4
Litigation Matters
 12 Months Ended
Dec. 31, 2025
Litigation Matters  
Litigation Matters

Note 23:      Litigation Matters

In the normal course of business, the Company and its subsidiaries are subject to pending and threatened legal actions, some of which seek substantial relief or damages. While the ultimate outcome of such legal proceedings cannot be predicted with certainty, after reviewing pending and threatened litigation with counsel, management believes at this time that the outcome of such litigation will not have a material adverse effect on the Company’s business, financial condition or results of operations.

The Company previously reported certain issues and contractual disputes regarding its proposed conversion to a new core banking platform to be delivered by a third-party vendor. These issues and disputes ultimately led to the Company terminating the Master Agreement with the third-party vendor and initiating litigation against them, with the third-party vendor filing a counterclaim against the Company.

In December 2024, an agreement in principle was reached between the Company and the third-party vendor whereby the Master Agreement would be terminated and the parties’ card servicing agreement would be continued and expanded. The Company recorded a $2.0 million accrued expense in 2024 in connection with these developments. Final agreements were executed and a full settlement of the matter was completed in May 2025.
v3.25.4
Summary of Unaudited Quarterly Operating Results
 12 Months Ended
Dec. 31, 2025
Summary of Unaudited Quarterly Operating Results  
Summary of Unaudited Quarterly Operating Results

Note 24:      Summary of Unaudited Quarterly Operating Results

Following is a summary of unaudited quarterly operating results for the years 2025, 2024 and 2023:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

2025

  ​ ​ ​

  ​ ​ ​

​

​

​

Three Months Ended

​

  ​ ​ ​

March 31

  ​ ​ ​

June 30

  ​ ​ ​

September 30

  ​ ​ ​

December 31

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

80,243

​

$

80,975

​

$

79,079

​

$

73,435

Interest expense

​

 

30,909

​

 

30,012

​

 

28,306

​

 

24,272

Provision for credit losses on loans

​

 

—

​

 

—

​

 

—

​

 

—

Provision (credit) for unfunded commitments

​

​

(348)

​

​

(110)

​

​

(379)

​

​

882

Net realized gain (loss) on available-for-sale securities

​

 

—

​

 

—

​

 

—

​

 

—

Non-interest income

​

 

6,590

​

 

8,212

​

 

7,062

​

 

7,188

Non-interest expense

​

 

34,822

​

 

35,005

​

 

36,116

​

 

36,000

Provision for income taxes

​

 

4,290

​

 

4,494

​

 

4,346

​

 

3,194

Net income available to common shareholders

​

 

17,160

​

 

19,786

​

 

17,752

​

 

16,275

Earnings per common share – diluted

​

 

1.47

​

 

1.72

​

 

1.56

​

 

1.45

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

2024

  ​ ​ ​

  ​ ​ ​

​

​

​

Three Months Ended

​

  ​ ​ ​

March 31

  ​ ​ ​

June 30

  ​ ​ ​

September 30

  ​ ​ ​

December 31

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

77,390

​

$

80,927

​

$

83,796

​

$

82,585

Interest expense

​

 

32,574

​

 

34,109

​

 

35,821

​

 

33,051

Provision for credit losses on loans

​

 

500

​

 

—

​

 

1,200

​

 

—

Provision (credit) for unfunded commitments

​

 

130

​

 

(607)

​

 

(63)

​

 

1,556

Net realized gain (loss) on available-for-sale securities

​

​

—

​

​

—

​

​

—

​

​

—

Non-interest income

​

 

6,806

​

 

9,833

​

 

6,992

​

 

6,934

Non-interest expense

​

 

34,422

​

 

36,409

​

 

33,717

​

 

36,947

Provision for income taxes

​

 

3,163

​

 

3,861

​

 

3,623

​

 

3,043

Net income available to common shareholders

​

 

13,407

​

 

16,988

​

 

16,490

​

 

14,922

Earnings per common share – diluted

​

 

1.13

​

 

1.45

​

 

1.41

​

 

1.27

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

2023

  ​ ​ ​

  ​ ​ ​

​

​

​

Three Months Ended

​

  ​ ​ ​

March 31

  ​ ​ ​

June 30

  ​ ​ ​

September 30

  ​ ​ ​

December 31

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

71,463

​

$

73,618

​

$

75,272

​

$

76,482

Interest expense

​

 

18,271

​

 

25,480

​

 

28,534

​

 

31,335

Provision for credit losses on loans

​

 

1,500

​

 

—

​

 

—

​

 

750

Provision (credit) for unfunded commitments

​

​

(826)

​

​

(1,619)

​

​

(1,195)

​

​

(1,689)

Net realized gain (loss) on available-for-sale securities

​

 

—

​

 

—

​

 

—

​

 

—

Non-interest income

​

 

7,889

​

 

7,769

​

 

7,852

​

 

6,563

Non-interest expense

​

 

34,463

​

 

34,718

​

 

35,557

​

 

36,285

Provision for income taxes

​

 

5,488

​

 

4,488

​

 

4,349

​

 

3,219

Net income available to common shareholders

​

 

20,456

​

 

18,320

​

 

15,879

​

 

13,145

Earnings per common share – diluted

​

 

1.67

​

 

1.52

​

 

1.33

​

 

1.11

​
v3.25.4
Condensed Parent Company Statements
 12 Months Ended
Dec. 31, 2025
Condensed Parent Company Statements  
Condensed Parent Company Statements

Note 25:      Condensed Parent Company Statements

The condensed statements of financial condition at December 31, 2025 and 2024, and statements of income, comprehensive income and cash flows for the years ended December 31, 2025, 2024 and 2023, for the parent company, Great Southern Bancorp, Inc., were as follows:

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

Statements of Financial Condition

​

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

Cash

​

$

56,332

​

$

87,621

Investment in subsidiary bank

​

 

610,219

​

 

616,340

Deferred and accrued income taxes

​

 

35

​

 

618

Prepaid expenses and other assets

​

 

833

​

 

898

​

​

​

​

​

​

​

​

​

$

667,419

​

$

705,477

​

​

​

​

​

​

​

Liabilities and Stockholders’ Equity

​

 

​

​

 

​

Accounts payable and accrued expenses

​

$

5,519

​

$

5,259

Subordinated debentures issued to capital trust

​

 

25,774

​

 

25,774

Subordinated notes

​

 

—

​

 

74,876

Common stock

​

 

111

​

 

117

Additional paid-in capital

​

 

54,120

​

 

50,336

Retained earnings

​

 

614,095

​

 

603,477

Accumulated other comprehensive income (loss)

​

 

(32,200)

​

 

(54,362)

​

​

​

​

​

​

​

​

​

$

667,419

​

$

705,477

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Statements of Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Income

 

​

  ​

 

​

  ​

 

​

  ​

Dividends from subsidiary bank

​

$

105,000

​

$

70,000

​

$

65,000

Other income

​

 

—

​

 

—

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

 

105,000

​

 

70,000

​

 

65,000

​

​

​

​

​

​

​

​

​

​

Expense

​

 

​

​

 

​

​

 

​

Operating expenses

​

 

3,514

​

 

3,280

​

 

2,780

Interest expense

​

 

3,561

​

 

6,221

​

 

6,158

​

​

​

​

​

​

​

​

​

​

​

​

 

7,075

​

 

9,501

​

 

8,938

​

​

​

​

​

​

​

​

​

​

Income before income tax and equity in undistributed earnings of subsidiaries

​

 

97,925

​

 

60,499

​

 

56,062

Credit for income taxes

​

 

(1,331)

​

 

(1,960)

​

 

(1,932)

​

​

​

​

​

​

​

​

​

​

Income before equity in earnings of subsidiaries

​

 

99,256

​

 

62,459

​

 

57,994

​

​

​

​

​

​

​

​

​

​

Equity in undistributed earnings of subsidiaries

​

 

(28,283)

​

 

(652)

​

 

9,806

​

​

​

​

​

​

​

​

​

​

Net income

​

$

70,973

​

$

61,807

​

$

67,800

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Statements of Cash Flows

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Operating Activities

​

​

​

​

​

​

​

​

​

Net income

​

$

70,973

​

$

61,807

​

$

67,800

Items not requiring (providing) cash

​

 

​

​

 

​

​

 

​

Equity in undistributed earnings of subsidiary

​

 

28,283

​

 

652

​

 

(9,806)

Compensation expense for stock option grants

​

 

1,857

​

 

1,770

​

 

1,621

Amortization of interest rate derivative and deferred costs on subordinated notes

​

 

124

​

 

297

​

 

298

Changes in

​

 

​

​

 

​

​

 

​

Prepaid expenses and other assets

​

 

65

​

 

(21)

​

 

5

Accounts payable and accrued expenses

​

 

191

​

 

(191)

​

 

250

Income taxes

​

 

583

​

 

23

​

 

(493)

Net cash provided by operating activities

​

 

102,076

​

 

64,337

​

 

59,675

​

​

​

​

​

​

​

​

​

​

Investing Activities

​

 

​

​

 

​

​

 

  ​

Net cash provided by investing activities

​

 

—

​

 

—

​

 

—

​

​

​

​

​

​

​

​

​

​

Financing Activities

​

 

  ​

​

 

  ​

​

 

  ​

Purchases of the Company’s common stock

​

 

(44,461)

​

 

(15,152)

​

 

(23,326)

Dividends paid

​

 

(18,724)

​

 

(18,708)

​

 

(19,282)

Stock options exercised

​

 

4,820

​

​

10,096

​

​

884

Redemption of subordinated notes

​

 

(75,000)

​

 

—

​

 

—

Net cash used in financing activities

​

 

(133,365)

​

 

(23,764)

​

 

(41,724)

​

​

​

​

​

​

​

​

​

​

Increase (Decrease) in Cash

​

 

(31,289)

​

 

40,573

​

 

17,951

​

​

​

​

​

​

​

​

​

​

Cash, Beginning of Year

​

 

87,621

​

 

47,048

​

 

29,097

​

​

​

​

​

​

​

​

​

​

Cash, End of Year

​

$

56,332

​

$

87,621

​

$

47,048

​

​

​

​

​

​

​

​

​

​

Additional Cash Payment Information

​

 

​

​

 

​

​

 

​

Interest paid

​

$

3,772

​

$

6,247

​

$

6,107

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Statements of Comprehensive Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income

​

$

70,973

​

$

61,807

​

$

67,800

​

​

​

​

​

​

​

​

​

​

Comprehensive income (loss) of subsidiaries

​

 

22,162

​

 

(11,881)

​

 

10,874

​

​

​

​

​

​

​

​

​

​

Comprehensive Income

​

$

93,135

​

$

49,926

​

$

78,674

​
v3.25.4
Operating Segments
 12 Months Ended
Dec. 31, 2025
Operating Segments  
Operating Segments

Note 26:      Operating Segments

The Company’s banking operation is its only operating segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. The parent holding company does not have any significant operations other than ownership of the Bank, and the parent holding company’s only income is equity in the earnings of the Bank.

Our chief executive officer is our chief operating decision maker. Our chief executive officer reviews actual net income versus budgeted net income, as well as comparison to other comparable financial reporting periods, to assess performance on a monthly basis and to make decisions about allocating capital and personnel.

​

Financial results by operating segment (all attributed to the banking segment), including significant expense categories provided to the chief operating decision maker, are detailed below at December 31, 2025, 2024 and 2023.

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

​

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

313,732

​

$

324,698

​

$

296,835

Interest expense

​

 

113,499

​

 

135,555

​

 

103,620

Net interest income

​

 

200,233

​

 

189,143

​

 

193,215

​

​

​

​

​

​

​

​

​

​

Credit loss expense

​

 

45

​

 

2,716

​

 

(3,079)

Net interest income after credit loss expense

​

 

200,188

​

 

186,427

​

 

196,294

​

​

​

​

​

​

​

​

​

​

Non-interest Income

​

 

​

​

 

  ​

​

 

  ​

Commissions

​

 

1,626

​

 

1,227

​

 

1,153

Overdraft and insufficient funds fees

​

 

5,182

​

 

5,140

​

 

7,617

Point-of-sale and ATM fee income and service charges

​

 

13,202

​

 

13,586

​

 

14,346

Net gain on loan sales

​

 

3,272

​

 

3,779

​

 

2,354

Late charges and fees on loans

​

 

1,193

​

 

512

​

 

786

Fees from debit card contracts

​

 

1,615

​

 

1,804

​

 

2,579

Other income

​

 

2,962

​

 

4,517

​

 

1,238

​

​

 

29,052

​

 

30,565

​

 

30,073

​

​

​

​

​

​

​

​

​

​

Non-interest Expense

​

 

  ​

​

 

  ​

​

 

  ​

Salaries and incentives

​

 

64,911

​

 

63,954

​

 

63,641

Employee benefits

​

 

15,052

​

 

14,645

​

 

14,880

Net occupancy expense

​

 

13,267

​

 

12,430

​

 

12,357

Technology, furniture and equipment expense

​

 

22,030

​

 

19,688

​

 

18,477

Postage

​

 

3,565

​

 

3,329

​

 

3,590

Insurance

​

 

4,448

​

 

4,622

​

 

4,542

Advertising

​

 

2,929

​

 

3,124

​

 

3,396

Office supplies and printing

​

 

953

​

 

1,008

​

 

1,057

Telephone

​

 

2,797

​

 

2,772

​

 

2,730

Legal, audit and other professional fees

​

 

4,166

​

 

5,399

​

 

7,086

Expense (income) on other real estate and repossessions

​

 

(518)

​

 

(304)

​

 

311

Intangible asset amortization

​

 

434

​

 

433

​

 

286

Travel, meals and entertainment

​

 

2,141

​

 

2,066

​

 

2,076

Other operating expenses

​

 

5,768

​

 

8,329

​

 

6,594

​

​

 

141,943

​

 

141,495

​

 

141,023

​

​

​

​

​

​

​

​

​

​

Income Before Income Taxes

​

 

87,297

​

 

75,497

​

 

85,344

Provision for Income Taxes

​

 

16,324

​

 

13,690

​

 

17,544

Net Income

​

$

70,973

​

$

61,807

​

$

67,800

​

The measure of segment assets is based on total assets as reported on the consolidated statements of financial condition. For the years ended December 31, 2025 and 2024, there were no adjustments or reconciling items between the banking segment total assets and total assets as presented on the consolidated statements of financial condition.
v3.25.4
Pay vs Performance Disclosure - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure      
Net Income (Loss) $ 70,973 $ 61,807 $ 67,800
v3.25.4
Insider Trading Arrangements
 3 Months Ended
Dec. 31, 2025
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.25.4
Insider Trading Policies and Procedures
 12 Months Ended
Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]  
Insider Trading Policies and Procedures Adopted true
v3.25.4
Cybersecurity Risk Management and Strategy Disclosure
 12 Months Ended
Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]  
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]

Cybersecurity and Risk Management

The Company’s cybersecurity risk management processes are integrated into the overall risk management process managed by the Chief Information Officer through reporting of cyber risks to the Information Security Steering Committee (ISSC). The ISSC is chaired by the Managing Director of Information Security, who has 19 years of information technology (IT) and information security experience in the financial services industry. Key metrics are monitored on an ongoing basis by the IT Risk Management and IT Security teams, with oversight by the ISSC. IT Risk Management performs regular information security-focused risk assessments aligned to the Federal Financial Institutions Examination Council standards.

IT Risk Management maintains processes for prevention, detection, and mitigation of cybersecurity incidents. The Company maintains an Incident Response Plan (IRP) that covers response and remediation processes for managing cybersecurity incidents. The Incident Response Team (IRT) members include senior management and other relevant personnel, with defined roles and responsibilities. IRP metrics related to monitoring and detection are presented to the ISSC and reported to the board. The IRT is notified of all incidents, and incidents are elevated to the board when warranted.

Risks from Cybersecurity Threats

In the last fiscal year, the Company did not experience any material cybersecurity incidents. For additional discussion of cybersecurity-related risks facing the Company, see Item 1A. Risk Factors.
Cybersecurity Risk Management Processes Integrated [Flag] true
Cybersecurity Risk Management Processes Integrated [Text Block] The Company’s cybersecurity risk management processes are integrated into the overall risk management process managed by the Chief Information Officer through reporting of cyber risks to the Information Security Steering Committee (ISSC).
Cybersecurity Risk Management Third Party Engaged [Flag] true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag] true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag] false
Cybersecurity Risk Board of Directors Oversight [Text Block]

Board Oversight

In connection with the board’s oversight of risk management, cybersecurity updates are provided to the board at least quarterly, including, but not limited to, the following materials: Annual Gramm-Leach-Bliley Act Information Security Program (ISP) Report, IT Risk Management and IT Security Metrics, Penetration Testing and Tabletop Exercise updates, IT Risk Assessments, Disaster Recovery Test Results, Third Party Risk Management Metrics, Incident Response Metrics, Security Awareness Training Metrics and additional cybersecurity education topics.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block] Information Security Steering Committee (ISSC)
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]

The Company’s cybersecurity risk management processes are integrated into the overall risk management process managed by the Chief Information Officer through reporting of cyber risks to the Information Security Steering Committee (ISSC). The ISSC is chaired by the Managing Director of Information Security, who has 19 years of information technology (IT) and information security experience in the financial services industry. Key metrics are monitored on an ongoing basis by the IT Risk Management and IT Security teams, with oversight by the ISSC. IT Risk Management performs regular information security-focused risk assessments aligned to the Federal Financial Institutions Examination Council standards.

Cybersecurity Risk Role of Management [Text Block]

IT Risk Management maintains processes for prevention, detection, and mitigation of cybersecurity incidents. The Company maintains an Incident Response Plan (IRP) that covers response and remediation processes for managing cybersecurity incidents. The Incident Response Team (IRT) members include senior management and other relevant personnel, with defined roles and responsibilities. IRP metrics related to monitoring and detection are presented to the ISSC and reported to the board. The IRT is notified of all incidents, and incidents are elevated to the board when warranted.

Cybersecurity Risk Management Positions or Committees Responsible [Flag] true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block] Chief Information Officer
Cybersecurity Risk Management Expertise of Management Responsible [Text Block] The ISSC is chaired by the Managing Director of Information Security, who has 19 years of information technology (IT) and information security experience in the financial services industry.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block] The Incident Response Team (IRT) members include senior management and other relevant personnel, with defined roles and responsibilities. IRP metrics related to monitoring and detection are presented to the ISSC and reported to the board. The IRT is notified of all incidents, and incidents are elevated to the board when warranted.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag] true
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies (Policies)
 12 Months Ended
Dec. 31, 2025
Nature of Operations and Summary of Significant Accounting Policies  
Nature of Operations and Operating Segments

Nature of Operations and Operating Segments

Great Southern Bancorp, Inc. (“GSBC” or the “Company”) operates as a one-bank holding company. GSBC’s business primarily consists of the operations of Great Southern Bank (the “Bank”), which provides a full range of financial services to customers primarily located in Missouri, Iowa, Kansas, Minnesota, Nebraska and Arkansas. The Bank also originates commercial loans from lending offices in Atlanta; Charlotte, North Carolina; Chicago; Dallas; Denver; Omaha, Nebraska; and Phoenix. The Company and the Bank are subject to regulation by certain federal and state agencies and undergo periodic examinations by those regulatory agencies.

The Company’s banking operation is its only reportable segment. The banking operation is principally engaged in the business of originating residential and commercial real estate loans, construction loans, commercial business loans and consumer loans and funding these loans by attracting deposits from the general public, accepting brokered deposits and borrowing from the Federal Home Loan Bank and others. The operating results of this segment are regularly reviewed by management to make decisions about resource allocations and to assess performance. Selected information is not presented separately for the Company’s reportable segment, as there is no material difference between that information and the corresponding information in the consolidated financial statements.
Use of Estimates

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Material estimates that are particularly susceptible to significant change relate to the determination of the allowance for credit losses and the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans and fair values of financial instruments. In connection with the determination of the allowance for credit losses and the valuation of foreclosed assets held for sale, management obtains independent appraisals for significant properties. In addition, the Company considers that the determination of the carrying value of goodwill and intangible assets involves a high degree of judgment and complexity.
Principles of Consolidation

Principles of Consolidation

The consolidated financial statements include the accounts of Great Southern Bancorp, Inc., its wholly owned subsidiary, the Bank, and the Bank’s wholly owned subsidiaries, Great Southern Real Estate Development Corporation, GSB One LLC (including its wholly owned subsidiary, GSB Two LLC), Great Southern Community Development Company, LLC (including its wholly owned subsidiary, Great Southern CDE, LLC), GS, LLC, GSSC, LLC, GSTC Investments, LLC, GS-RE Holding, LLC (including its wholly owned subsidiary, GS RE Management, LLC), GS-RE Holding II, LLC, and GS-RE Holding III, LLC. All significant intercompany accounts and transactions have been eliminated in consolidation.
Federal Home Loan Bank Stock

Federal Home Loan Bank Stock

Federal Home Loan Bank common stock is a required investment for institutions that are members of the Federal Home Loan Bank system. The required investment in common stock is based on a predetermined formula, carried at cost and evaluated for impairment.
Securities

Securities

Available-for-sale securities, which include any security for which the Company has no immediate plan to sell but which may be sold in the future, are carried at fair value. Unrealized gains and losses are recorded, net of related income tax effects, in other comprehensive income.

Held-to-maturity securities, which include any security for which the Company has the positive intent and ability to hold until maturity, are carried at historical cost adjusted for amortization of premiums and accretion of discounts.

Amortization of premiums and accretion of discounts are recorded as interest income from securities. Realized gains and losses are recorded as net security gains (losses). Gains and losses on sales of securities are determined on the specific-identification method.

The Company evaluates all securities quarterly to determine if any securities in a loss position require a provision for credit losses in accordance with ASC 326, Measurement of Credit Losses on Financial Instruments. The Company’s consolidated statements of income reflect the full impairment (that is, the difference between the security’s amortized cost basis and fair value) on debt securities that the Company intends to sell or would more likely than not be required to sell before the expected recovery of the amortized cost basis. For available-for-sale and held-to-maturity debt securities that management has no intent to sell and believes that it more likely than not will not be required to sell prior to recovery, only the credit loss component of the impairment is recognized in earnings, while the noncredit loss is recognized in accumulated other comprehensive income for available-for-sale securities. The credit loss component recognized in earnings through a provision for credit loss is identified as the amount of principal cash flows not expected to be received over the remaining term of the security based on cash flow projections.
Mortgage Loans Held for Sale

Mortgage Loans Held for Sale

Mortgage loans originated and intended for sale in the secondary market are carried at the lower of cost or fair value in the aggregate. Write-downs to fair value are recognized as a charge to earnings at the time the decline in value occurs. Nonbinding forward commitments to sell individual mortgage loans are generally obtained to reduce market risk on mortgage loans in the process of origination and mortgage loans held for sale. Gains and losses resulting from sales of mortgage loans are recognized when the respective loans are sold to investors. Fees received from borrowers to guarantee the funding of mortgage loans held for sale and fees paid to investors to ensure the ultimate sale of such mortgage loans are recognized as income or expense when the loans are sold or when it becomes evident that the commitment will not be used.
Loans Originated by the Company

Loans Originated by the Company

Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are reported at their outstanding principal balances adjusted for any charge-offs, the allowance for credit losses, any deferred fees or costs on originated loans and unamortized premiums or discounts on purchased loans. Interest income is reported on the interest method and includes amortization of net deferred loan fees and costs over the loan term. Past due status is based on the contractual terms of a loan. Generally, loans are placed on nonaccrual status at 90 days past due and interest is considered a loss, unless the loan is well secured and in the process of collection. Payments received on nonaccrual loans are applied to principal until the loans are returned to accrual status. Loans are returned to accrual status when all payments contractually due are brought current, payment performance is sustained for a period of time, generally six months, and future payments are reasonably assured. With the exception of consumer loans, charge-offs on loans are recorded when available information indicates a loan is not fully collectible and the loss is reasonably quantifiable. Consumer loans are charged-off at specified delinquency dates consistent with regulatory guidelines.
Allowance for Credit Losses

Allowance for Credit Losses

The allowance for credit losses is measured using an average historical loss model that incorporates relevant information about past events (including historical credit loss experience on loans with similar risk characteristics), current conditions, and reasonable and supportable forecasts that affect the collectability of the remaining cash flows over the contractual term of the loans. The allowance for credit losses is measured on a collective (pool) basis. Loans are aggregated into pools based on similar risk characteristics, including borrower type, collateral and repayment types and expected credit loss patterns. Loans that do not share similar risk characteristics, primarily classified loans with balances greater than or equal to $100,000, are evaluated on an individual basis.

For loans evaluated for credit losses on a collective basis, average historical loss rates are calculated for each pool using the Company’s historical net charge-offs (combined charge-offs and recoveries by observable historical reporting period) and outstanding loan balances during a lookback period. Lookback periods can be different based on the individual pool and represent management’s credit expectations for the pool of loans over the remaining contractual life. In certain loan pools, if the Company’s own historical loss rate is not reflective of the loss expectations, the historical loss rate is augmented by industry and peer data. The calculated average net charge-off rate is then adjusted for current conditions and reasonable and supportable forecasts. These adjustments increase or decrease the average historical loss rate to reflect expectations of future losses given economic forecasts of key macroeconomic variables including, but not limited to, unemployment rate, gross domestic product (“GDP”), commercial real estate price index, consumer sentiment and construction spending. The adjustments are based on results from various regression models projecting the

impact of the macroeconomic variables to loss rates. The forecast is used for a reasonable and supportable period before reverting to historical averages. The forecast-adjusted loss rate is applied to the principal balance over the remaining contractual lives, adjusted for expected prepayments. The contractual term excludes expected extensions, renewals and modifications. Additionally, the allowance for credit losses considers other qualitative factors not included in historical loss rates or macroeconomic forecasts such as changes in portfolio composition, underwriting practices, or significant unique events or conditions.

In addition, the Company is required to record an allowance for off balance sheet credit exposures, including unfunded lines of credit, undisbursed portions of loans, written residential and commercial loan commitments, and letters of credit. To determine the amount needed for allowance purposes, a utilization rate is determined either by the model or internally for each pool. Our loss model calculates the reserve on unfunded commitments based upon the utilization rate multiplied by the average loss rate factors in each pool with unfunded and committed balances. The liability for unfunded lending commitments utilizes the same model as the allowance for credit losses on loans; however, the liability for unfunded lending commitments incorporates assumptions for the portion of unfunded commitments that are expected to be funded.
Loans Acquired in Business Combinations

Loans Acquired in Business Combinations

Loans acquired in business combinations under ASC Topic 805, Business Combinations, required the use of the acquisition method of accounting. Therefore, such loans were initially recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820, Fair Value Measurements and Disclosures. The Company’s historical acquisitions all occurred under previous US GAAP prior to the Company’s adoption of ASU 2016-13. No allowance for credit losses related to the acquired loans was recorded on the acquisition date as the fair value of the loans acquired incorporates assumptions regarding credit risk. Loans acquired are recorded at fair value in accordance with the fair value methodology prescribed in ASC Topic 820. The fair value estimates associated with the loans include estimates related to expected prepayments and the amount and timing of undiscounted expected principal, interest and other cash flows.

For acquired loans not acquired in conjunction with an FDIC-assisted transaction that were not considered to be purchased credit-impaired loans, the Company evaluated those loans acquired in accordance with the provisions of ASC Topic 310-20, Nonrefundable Fees and Other Costs. The fair value discount on these loans is accreted into interest income over the weighted average life of the loans using a constant yield method. These loans are not considered impaired loans. The Company’s historical acquisitions all occurred under previous US GAAP prior to the Company’s adoption of ASU 2016-13. The Company evaluated purchased credit-impaired loans in accordance with the provisions of ASC Topic 310-30, Loans and Debt Securities Acquired with Deteriorated Credit Quality. Loans acquired in business combinations with evidence of credit deterioration since origination and for which it is probable that all contractually required payments will not be collected were considered to be credit impaired. Evidence of credit quality deterioration as of the purchase dates may include information such as past-due and nonaccrual status, borrower credit scores and recent loan to value percentages. Acquired credit-impaired loans that are accounted for under the accounting guidance for loans acquired with deteriorated credit quality are initially measured at fair value, which includes estimated future credit losses expected to be incurred over the life of the loans. At the date of CECL adoption, the Company did not reassess whether purchased credit impaired (PCI) loans met the criteria of purchased with credit deterioration (PCD) loans.

The Company evaluated all of its loans acquired in conjunction with its FDIC-assisted transactions in accordance with the provisions of ASC Topic 310-30. For purposes of applying ASC 310-30, loans acquired in FDIC-assisted business combinations are aggregated into pools of loans with common risk characteristics. All loans acquired in the FDIC transactions, both covered and not covered by loss sharing agreements, were deemed to be purchased credit-impaired loans as there is general evidence of credit deterioration since origination in the pools and there is some probability that not all contractually required payments will be collected. As a result, related discounts are recognized subsequently through accretion based on changes in the expected cash flows of these acquired loans.

Prior to the adoption of ASU 2016-13, the expected cash flows of the acquired loan pools in excess of the fair values recorded, referred to as the accretable yield, was recognized in interest income over the remaining estimated lives of the loan pools for impaired loans accounted for under ASC Topic 310-30. Subsequent to acquisition date, the Company estimated cash flows expected to be collected on pools of loans sharing common risk characteristics, which are treated in the aggregate when applying various valuation techniques. Increases in the Company’s cash flow expectations have been recognized as increases to the accretable yield while decreases have been recognized as impairments through the allowance for credit losses.
Other Real Estate Owned and Repossessions

Other Real Estate Owned and Repossessions

Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at fair value less estimated cost to sell at the date of foreclosure, establishing a new cost basis. Subsequent to foreclosure, valuations are periodically performed by management and the assets are carried at the lower of carrying amount or fair value less estimated cost to sell. Revenue and expenses from operations and changes in the valuation allowance are included in net expense on foreclosed assets. Other real estate owned also includes bank premises formerly, but no longer, used for banking activities, as well as property originally acquired for future expansion but no longer intended to be used for that purpose.
Premises and Equipment

Premises and Equipment

Premises and equipment are stated at cost less accumulated depreciation. Depreciation is charged to expense using the straight-line and accelerated methods over the estimated useful lives of the assets. Leasehold improvements are capitalized and amortized using the straight-line and accelerated methods over the terms of the respective leases or the estimated useful lives of the improvements, whichever is shorter.

Material lease obligations consist of leases for various loan offices and banking centers. All of our leases are classified as operating leases (as they were prior to January 1, 2019), and therefore were previously not recognized on the Company’s consolidated statements of financial condition. With the adoption of ASU 2016-02, these operating leases are now included as a right of use asset in the premises and equipment line item on the Company’s consolidated statements of financial condition. The corresponding lease liability is included in the accrued expenses and other liabilities line item on the Company’s consolidated statements of financial condition.

The calculated amounts of the right of use assets and lease liabilities are impacted by the length of the lease term and the discount rate used to present value the minimum lease payments. The Company’s lease agreements often include one or more options to renew for an extended term in the calculation of the right of use asset and lease liability. If at lease inception, the Company considers the exercising of a renewal option to be reasonably certain, the Company will include the extended term in the calculation of the right of use asset and lease liability. Regarding the discount rate, the Company uses the rate implicit in the lease whenever this rate is readily determinable. As this rate is rarely determinable, the Company utilizes its incremental borrowing rate at lease inception over a similar term. The discount rate utilized is the FHLBank borrowing rate for the term corresponding to the expected term of the lease.
Long-Lived Asset Impairment

Long-Lived Asset Impairment

The Company evaluates the recoverability of the carrying value of long-lived assets whenever events or circumstances indicate the carrying amount may not be recoverable. If a long-lived asset is tested for recoverability and the undiscounted estimated future cash flows expected to result from the use and eventual disposition of the asset is less than the carrying amount of the asset, the asset cost is adjusted to fair value and an impairment loss is recognized as the amount by which the carrying amount of a long-lived asset exceeds its fair value.

No material asset impairment was recognized during the years ended December 31, 2025, 2024 and 2023.
Goodwill and Intangible Assets

Goodwill and Intangible Assets

Goodwill is evaluated annually for impairment or more frequently if impairment indicators are present. The annual, or interim, goodwill impairment test is performed by comparing the fair value of a reporting unit with its carrying amount and an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value. The Company still may perform a qualitative assessment for a reporting unit to determine if the quantitative impairment test is necessary.

Arena naming rights intangible assets are being amortized on the straight-line basis generally over a period of fifteen years. Such assets are periodically evaluated as to the recoverability of their carrying value.

A summary of goodwill and intangible assets is as follows:

​

​

​

​

​

​

​

​

​

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

 

(In Thousands)

​

​

​

​

​

​

​

Goodwill – Branch acquisitions

​

$

5,396

​

$

5,396

Arena Naming Rights (April 2022)

​

 

4,264

​

 

4,698

​

​

$

9,660

​

$

10,094

​
Loan Servicing and Origination Fee Income

Loan Servicing and Origination Fee Income

Loan servicing income represents fees earned for servicing real estate mortgage loans owned by various investors. The fees are generally calculated on the outstanding principal balances of the loans serviced and are recorded as income when earned. Loan origination fees, net of direct loan origination costs, are recognized as income using the level-yield method over the contractual life of the loan.
Stockholders' Equity

Stockholders’ Equity

The Company is incorporated in the State of Maryland. Under Maryland law, there is no concept of “Treasury Shares.” Instead, shares purchased by the Company constitute authorized but unissued shares under Maryland law. Accounting principles generally accepted in the United States of America state that accounting for treasury stock shall conform to state law. The cost of shares purchased by the Company has been allocated to common stock and retained earnings balances.
Earnings Per Common Share

Earnings Per Common Share

Basic earnings per common share are computed based on the weighted average number of common shares outstanding during each year. Diluted earnings per common share are computed using the weighted average common shares and all potential dilutive common shares outstanding during the year.

Earnings per common share (EPS) were computed as follows:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

Net income and net income available to common shareholders

​

$

70,973

​

$

61,807

​

$

67,800

​

​

​

​

​

​

​

​

​

​

Average common shares outstanding

​

 

11,397

​

 

11,695

​

 

11,992

​

​

​

​

​

​

​

​

​

​

Average common share stock options outstanding

​

 

60

​

 

60

​

 

88

​

​

​

​

​

​

​

​

​

​

Average diluted common shares

​

 

11,457

​

 

11,755

​

 

12,080

​

​

​

​

​

​

​

​

​

​

Earnings per common share – basic

​

$

6.23

​

$

5.28

​

$

5.65

​

​

​

​

​

​

​

​

​

​

Earnings per common share – diluted

​

$

6.19

​

$

5.26

​

$

5.61

​

Options outstanding at December 31, 2025, 2024 and 2023, to purchase 783,955, 861,661 and 749,833 shares of common stock, respectively, were not included in the computation of diluted earnings per common share for each of the years because the exercise prices of such options were greater than the average market prices of the common stock for the years ended December 31, 2025, 2024 and 2023, respectively.
Stock Compensation Plans

Stock Compensation Plans

The Company has stock-based employee compensation plans, which are described more fully in Note 19. In accordance with FASB ASC 718, Compensation – Stock Compensation, compensation cost related to share-based payment transactions is recognized in the Company’s consolidated financial statements based on the grant-date fair value of the award using the modified prospective transition method. For the years ended December 31, 2025, 2024 and 2023, share-based compensation expense totaling $1.9 million, $1.8 million and $1.6 million, respectively, was included in salaries and employee benefits expense in the consolidated statements of income.
Cash Equivalents

Cash Equivalents

The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2025 and 2024, cash equivalents consisted of interest-bearing deposits in other financial institutions. At December 31, 2025, nearly all of the interest-bearing deposits were uninsured and held at the Federal Home Loan Bank or the Federal Reserve Bank.
Income Taxes

Income Taxes

The Company accounts for income taxes in accordance with income tax accounting guidance (FASB ASC 740, Income Taxes). The income tax accounting guidance results in two components of income tax expense: current and deferred. Current income tax expense reflects taxes to be paid or refunded for the current period by applying the provisions of the enacted tax law to the taxable income or excess of deductions over revenues. The Company determines deferred income taxes using the liability (or balance sheet) method. Under this method, the net deferred tax asset or liability is based on the tax effects of the differences between the book and tax bases of assets and liabilities, and enacted changes in tax rates and laws are recognized in the period in which they occur.

Deferred income tax expense results from changes in deferred tax assets and liabilities between periods. Deferred tax assets are recognized if it is more likely than not, based on the technical merits, that the tax position will be realized or sustained upon examination. The term “more likely than not” means a likelihood of more than 50 percent; the terms examined and upon examination also include resolution of the related appeals or litigation processes, if any. A tax position that meets the more-likely-than-not recognition threshold is initially and subsequently measured as the largest amount of tax benefit that has a greater than 50 percent likelihood of being realized upon settlement with a taxing authority that has full knowledge of all relevant information. The determination of whether or not a tax position has met the more-likely-than-not recognition threshold considers the facts, circumstances and information available at the reporting date and is subject to management’s judgment. Deferred tax assets are reduced by a valuation allowance if, based on the weight of evidence available, it is more likely than not that some portion or all of a deferred tax asset will not be realized. At December 31, 2025 and 2024, no valuation allowance was established.

The Company recognizes interest and penalties on income taxes as a component of income tax expense.

The Company files consolidated income tax returns with its subsidiaries.
Derivatives and Hedging Activities

Derivatives and Hedging Activities

FASB ASC 815, Derivatives and Hedging, provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance and cash flows. Further, qualitative disclosures are required that explain the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of and gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. For detailed disclosures on derivatives and hedging activities, see Note 15.

As required by FASB ASC 815, the Company records all derivatives in the statement of financial condition at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected

to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting.
Recent Accounting Pronouncements

Recent Accounting Pronouncements

In March 2023, the FASB issued ASU 2023-02, Investments – Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method. ASU 2023-02 is intended to improve the accounting and disclosures for investments in tax credit structures. ASU 2023-02 allows entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. Previously, this method was only available for qualifying tax equity investments in low-income housing tax credit structures. Currently, the Company does not have a material amount of tax credit structures, other than low-income housing tax credit structures. The adoption of ASU 2023-02 did not have a material impact on the Company’s consolidated financial statements and resulted in a reduction of retained earnings of $223,000 upon adoption on January 1, 2024.

In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. ASU 2023-07 expands reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. ASU 2023-07 implements a new requirement to disclose significant segment expenses regularly provided to the chief operating decision maker, expands certain annual disclosures to interim periods, clarifies that single reportable segment entities must apply Topic 280 in its entirety and permits more than one measure of segment profit or loss to be reported under certain conditions. ASU 2023-07 became effective for the Company for our annual financial statements in 2024. See Note 26 – Operating Segments for application of this ASU.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. ASU 2023-09 is focused on additional income tax disclosures and requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 became effective for the Company beginning with the fiscal year ending December 31, 2025 and did not have a material impact on the Company’s consolidated financial statements.

In November 2024, the FASB issued ASU No. 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses. ASU 2024-03 requires disaggregated disclosure of income statement expenses for public business entities. ASU 2024-03 requires new financial statement disclosures in tabular format, disaggregating information about prescribed categories underlying any relevant income statement expense caption. The prescribed categories include, among other things, employee compensation, depreciation, and intangible asset amortization. Additionally, entities must disclose the total amount of selling expenses and, in annual reporting periods, an entity’s definition of selling expenses. ASU 2024-03 is effective for us, on a prospective basis, for annual periods beginning after December 15, 2026, and interim periods beginning after December 15, 2027, although early adoption and retrospective application is permitted. ASU 2024-03 is currently not expected to have a material impact on the Company’s consolidated financial statements, but will impact disclosures.

In November 2025, the FASB issued ASU No. 2025-08, Financial Instruments – Credit Losses (Topic 326): Purchased Loans. ASU 2025-08 expands the scope of the “gross-up” method, formerly applicable only to purchased credit-deteriorated (PCD) assets, to include acquired non-PCD loans that meet certain criteria, now referred to as “purchased seasoned loans” (PSLs). Under this ASU, an allowance for expected credit losses is recognized at acquisition, offsetting the loan’s amortized cost basis, thereby eliminating the day-one credit-loss expense previously required for non-PCD assets. PSLs are defined as non-PCD loans acquired either (1) through a business combination, or (2) purchased more than 90 days after origination when the acquirer was not involved in origination. ASU 2025-08 is effective for us, on a prospective basis for loans acquired on or after the adoption date, for interim and annual reporting periods beginning in 2027, though early adoption is permitted. ASU 2025-08 is not expected to have a significant impact on the Company’s consolidated financial statements.

In November 2025, the FASB issued ASU No. 2025-09, Derivatives and Hedging (Topic 815): Hedge Accounting Improvements. ASU 2025-09 amends ASC 815 to align hedge accounting more closely with an entity’s economic risk management practices. Key amendments (1) allow designating a variable price component of a nonfinancial forecasted purchase or sale as the hedged risk, (2) allow grouping individual forecasted transactions with similar (not identical) risk exposures, (3) include a new model for hedging forecasted interest on variable-rate debt, enabling changes in index or tenor without dedesignation, subject to simplifying assumptions, and (4) provide additional clarifications related to hedge accounting of nonfinancial components, net written options, and dual-hedge strategies. ASU 2025-09 is effective for us beginning in 2027, though early adoption is permitted. ASU 2025-09 is not expected to have a significant impact on the Company’s consolidated financial statements.

In November 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic270): Narrow-Scope Improvements. ASU 2025-11 clarifies and enhances guidance under ASC 270 on interim financial reporting by (1) clarifying the scope of ASC 270 such that it now explicitly applies only to entities that issue complete interim financial statements and related notes under U.S. GAAP, (2) establishing clear guidance on the form of interim statements and notes, incorporating a comprehensive list of required interim disclosures, and (3) introducing a requirement to disclose material events and changes occurring after the end of the last annual period that could impact interim results. ASU 2025-11 is effective for us for interim periods beginning in 2028, though early adoption is permitted. ASU 2025-11 is not expected to have a significant impact on the Company’s consolidated financial statements.
Reclassifications

Reclassifications

Certain prior‑year amounts have been reclassified to conform to the current‑year presentation. These reclassifications had no effect on previously reported net income, stockholders’ equity, or cash flows.
Investments in Affordable Housing Partnerships

Investments in Affordable Housing Partnerships

Periodically, the Company has invested in certain limited partnerships that were formed to develop and operate apartments and single-family houses designed as high-quality affordable housing for lower income tenants throughout Missouri and contiguous states (“Affordable Housing Partnerships”). At December 31, 2025, the Company had 21 such investments, with a net carrying value of $96.9 million. At December 31, 2024, the Company had 23 such investments, with a net carrying value of $98.8 million. Due to the Company’s inability to exercise any significant influence over any of the investments in Affordable Housing Partnerships, they all are accounted for using the proportional amortization method. Each of the partnerships must meet the regulatory requirements for affordable housing for a minimum 15-year compliance period to fully utilize the tax credits. If the partnerships cease to qualify during the compliance period, the credits may be denied for any period in which the projects are not in compliance and a portion of the credits previously taken may be subject to recapture with interest.

The remaining federal affordable housing tax credits to be utilized through 2036 were $102.3 million as of December 31, 2025, assuming no tax credit recapture events occur and all projects currently under construction are completed as planned. Amortization of the investments in partnerships is expected to be approximately $91.6 million, assuming all projects currently under construction are completed and funded as planned.

The Company’s usage of federal affordable housing tax credits approximated $13.6 million, $11.4 million and $7.7 million during 2025, 2024 and 2023, respectively. Investment amortization was $12.2 million, $10.2 million and $7.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.
Investments in Community Development Entities

Investments in Community Development Entities

From time to time, the Company has invested in certain limited partnerships that were formed to develop and operate business and real estate projects located in low-income communities. At December 31, 2025, the Company had one such investment, with a net carrying value of $99,000. At December 31, 2024, the Company had one such investment, with a net carrying value of $199,000. Due to the Company’s inability to exercise any significant influence over any of the investments in qualified Community Development Entities, they are accounted for using the proportional amortization method. Each of the partnerships provides federal New Market Tax Credits over a seven-year credit allowance period. In each of the first three years, credits totaling five percent of the original investment are allowed on the credit allowance dates, and for the final four years, credits totaling six percent of the original investment are allowed on the credit allowance dates. Each of the partnerships must be invested in a qualified Community Development Entity on each of the credit allowance dates during the seven-year period to utilize the tax credits. If the Community Development Entities cease to qualify during the seven-year period, the credits may be denied for any credit allowance date and a portion of the credits previously taken may be subject to recapture with interest. The investments in the Community Development Entities cannot be redeemed before the end of the seven-year period.

The Company’s usage of federal New Market Tax Credits approximated $120,000, $120,000 and $100,000 during 2025, 2024 and 2023, respectively. Investment amortization amounted to $100,000, $75,000 and $83,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Upon adoption of ASU 2023-02 on January 1, 2024, the Company recorded a reduction in the investment in these New Market Tax Credits, with a corresponding reduction in retained earnings, of $62,000.
Investments in Limited Partnerships for Federal Rehabilitation/Historic Tax Credits

Investments in Limited Partnerships for Federal Rehabilitation/Historic Tax Credits

From time to time, the Company has invested in certain limited partnerships that were formed to provide certain federal rehabilitation/historic tax credits. At both December 31, 2025 and 2024, the Company had no such investments, with the previous investment fully amortizing during 2024. Under current tax law, such partnerships provide federal rehabilitation/historic tax credits over a five-year credit allowance period.

The Company’s usage of certain federal rehabilitation/historic tax credits approximated $300,000, $305,000 and $258,000 during 2025, 2024 and 2023, respectively. Investment amortization amounted to $-0-, $254,000 and $214,000 for the years ended December 31, 2025, 2024 and 2023, respectively. Upon adoption of ASU 2023-02 on January 1, 2024, the Company recorded a reduction in the investment in these Rehabilitation/Historic Tax Credits, with a corresponding reduction in retained earnings, of $161,000.
Investments in Limited Partnerships for State Tax Credits

Investments in Limited Partnerships for State Tax Credits

On occasion, the Company has invested in limited partnerships that were formed to provide certain state tax credits. The Company has primarily syndicated these tax credits and the impact to the Consolidated Statements of Income has not been material.
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2025
Nature of Operations and Summary of Significant Accounting Policies  
Schedule of goodwill and intangible assets

​

​

​

​

​

​

​

​

​

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

 

(In Thousands)

​

​

​

​

​

​

​

Goodwill – Branch acquisitions

​

$

5,396

​

$

5,396

Arena Naming Rights (April 2022)

​

 

4,264

​

 

4,698

​

​

$

9,660

​

$

10,094
Schedule of earnings per common share

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

Net income and net income available to common shareholders

​

$

70,973

​

$

61,807

​

$

67,800

​

​

​

​

​

​

​

​

​

​

Average common shares outstanding

​

 

11,397

​

 

11,695

​

 

11,992

​

​

​

​

​

​

​

​

​

​

Average common share stock options outstanding

​

 

60

​

 

60

​

 

88

​

​

​

​

​

​

​

​

​

​

Average diluted common shares

​

 

11,457

​

 

11,755

​

 

12,080

​

​

​

​

​

​

​

​

​

​

Earnings per common share – basic

​

$

6.23

​

$

5.28

​

$

5.65

​

​

​

​

​

​

​

​

​

​

Earnings per common share – diluted

​

$

6.19

​

$

5.26

​

$

5.61
v3.25.4
Investment Securities (Tables)
 12 Months Ended
Dec. 31, 2025
Investment Securities  
Schedule of amortized cost and fair values of securities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

325,618

​

$

805

​

$

25,174

​

$

301,249

Agency collateralized mortgage obligations

​

​

120,465

​

​

933

​

​

6,065

​

​

115,333

States and political subdivisions securities

​

​

53,347

​

​

89

​

​

2,038

​

​

51,398

Small Business Administration securities

​

​

61,000

​

​

14

​

​

5,163

​

​

55,851

​

​

$

560,430

​

$

1,841

​

$

38,440

​

$

523,831

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2025

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Amortized

  ​ ​ ​

Gross

  ​ ​ ​

Gross

  ​ ​ ​

​

​

​

​

Amortized

​

Fair Value

​

Carrying

​

Unrealized

​

Unrealized

​

Fair

​

​

Cost

​

Adjustment

​

Value

​

Gains

​

Losses

​

Value

​

​

(In Thousands)

HELD-TO-MATURITY SECURITIES:

​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

  ​ ​ ​

​

  ​

Agency mortgage-backed securities

​

$

69,713

​

$

1,313

​

$

71,026

​

$

—

​

$

5,694

​

$

65,332

Agency collateralized mortgage obligations

​

 

103,918

​

​

(1,857)

​

​

102,061

​

​

—

​

​

10,424

​

​

91,637

States and political subdivisions securities

​

 

6,086

​

​

27

​

​

6,113

​

​

—

​

​

453

​

​

5,660

​

​

$

179,717

​

$

(517)

​

$

179,200

​

$

—

​

$

16,571

​

$

162,629

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

Gross

​

Gross

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

 

$

346,712

​

$

69

​

$

40,874

​

$

305,907

Agency collateralized mortgage obligations

​

 

123,395

​

​

—

​

​

9,771

​

​

113,624

States and political subdivisions securities

​

 

58,608

​

​

69

​

​

2,729

​

​

55,948

Small Business Administration securities

​

 

65,849

​

​

—

​

​

7,955

​

​

57,894

​

 

$

594,564

​

$

138

​

$

61,329

​

$

533,373

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

​

​

​

Amortized

​

Gross

​

Gross

​

​

 

​

​

Amortized

​

Fair Value

​

Carrying

​

Unrealized

​

Unrealized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Adjustment

  ​ ​ ​

Value

  ​ ​ ​

Gains

  ​ ​ ​

Losses

  ​ ​ ​

Value

​

 

(In Thousands)

HELD-TO-MATURITY SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

 

$

71,065

 

$

1,864

 

$

72,929

 

$

—

 

$

8,523

 

$

64,406

Agency collateralized mortgage obligations

​

​

110,493

​

​

(2,140)

​

​

108,353

​

​

—

​

​

15,495

​

​

92,858

States and political subdivisions securities

​

​

6,137

​

​

14

​

​

6,151

​

​

—

​

​

650

​

​

5,501

​

 

$

187,695

​

$

(262)

​

$

187,433

​

$

—

​

$

24,668

​

$

162,765
Schedule of amortized cost and fair value of available-for-sale and held-to-maturity securities by contractual maturity

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Available-for-Sale

​

Held-to-Maturity

​

​

Amortized

​

Fair

​

Amortized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Value

  ​ ​ ​

Carrying Value

  ​ ​ ​

Value

​

 

(In Thousands)

One year or less

​

$

—

​

$

—

​

$

—

​

$

—

After one through two years

​

​

—

​

​

—

​

​

—

​

​

—

After two through three years

​

​

1,020

​

​

1,030

​

​

—

​

​

—

After three through four years

​

​

—

​

​

—

​

​

—

​

​

—

After four through five years

​

​

—

​

​

—

​

​

—

​

​

—

After five through fifteen years

​

 

23,285

​

​

22,656

​

​

5,608

​

​

5,223

After fifteen years

​

 

29,042

​

​

27,712

​

​

505

​

​

437

Securities not due on a single maturity date

​

 

507,083

​

​

472,433

​

​

173,087

​

​

156,969

​

​

$

560,430

​

$

523,831

​

$

179,200

​

$

162,629
Schedule of amortized cost and fair values of securities pledged as collateral

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025

​

2024

​

​

Amortized

​

Fair

​

Amortized

​

Fair

​

  ​ ​ ​

Cost

  ​ ​ ​

Value

  ​ ​ ​

Cost

  ​ ​ ​

Value

​

 

(In Thousands)

Public deposits

​

$

12,826

​

$

11,368

​

$

13,880

​

$

11,801

Collateralized borrowing accounts

​

 

64,712

​

​

59,082

​

 

86,561

​

​

76,871

FHLBank borrowing account

​

​

270,691

​

​

255,031

​

​

91,900

​

​

90,544

Federal Reserve Bank’s Bank Term Funding Program

​

​

—

​

​

—

​

​

186,836

​

​

161,620

Other

​

 

—

​

​

—

​

 

3,572

​

​

3,270

​

​

$

348,229

​

$

325,481

​

$

382,749

​

$

344,106
Schedule of gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2025

​

​

Less than 12 Months

​

12 Months or More

​

Total

​

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

Description of Securities

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

—

​

$

—

​

$

241,503

​

$

(25,174)

​

$

241,503

​

$

(25,174)

Agency collateralized mortgage obligations

​

 

—

​

​

—

​

​

70,774

​

​

(6,065)

​

​

70,774

​

​

(6,065)

Small Business Administration securities

​

 

—

​

​

—

​

​

48,807

​

​

(5,163)

​

​

48,807

​

​

(5,163)

States and political subdivisions securities

​

 

4,409

​

​

(109)

​

​

43,528

​

​

(1,929)

​

​

47,937

​

​

(2,038)

​

​

$

4,409

​

$

(109)

​

$

404,612

​

$

(38,331)

​

$

409,021

​

$

(38,440)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HELD-TO-MATURITY SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

—

​

$

—

​

$

65,332

​

$

(5,694)

​

$

65,332

​

$

(5,694)

Agency collateralized mortgage obligations

​

​

—

​

​

—

​

​

91,637

​

​

(10,424)

​

​

91,637

​

​

(10,424)

States and political subdivisions securities

​

​

—

​

​

—

​

​

5,660

​

​

(453)

​

​

5,660

​

​

(453)

​

​

$

—

​

$

—

​

$

162,629

​

$

(16,571)

​

$

162,629

​

$

(16,571)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

2024

​

​

Less than 12 Months

​

12 Months or More

​

Total

​

​

Fair

​

Unrealized

​

Fair

​

Unrealized

​

Fair

​

Unrealized

Description of Securities

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

  ​ ​ ​

Value

  ​ ​ ​

Losses

​

 

(In Thousands)

AVAILABLE-FOR-SALE SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

45,977

​

$

(1,008)

​

$

253,971

​

$

(39,866)

​

$

299,948

​

$

(40,874)

Agency collateralized mortgage obligations

​

 

50,720

​

​

(890)

​

​

62,903

​

​

(8,881)

​

​

113,623

​

​

(9,771)

Small Business Administration securities

​

 

7,229

​

​

(270)

​

​

50,665

​

​

(7,685)

​

​

57,894

​

​

(7,955)

States and political subdivisions securities

​

 

14,523

​

​

(343)

​

​

37,945

​

​

(2,386)

​

​

52,468

​

​

(2,729)

​

​

$

118,449

​

$

(2,511)

​

$

405,484

​

$

(58,818)

​

$

523,933

​

$

(61,329)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

HELD-TO-MATURITY SECURITIES:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

—

​

$

—

​

$

64,406

​

$

(8,523)

​

$

64,406

​

$

(8,523)

Agency collateralized mortgage obligations

​

​

—

​

​

—

​

​

92,858

​

​

(15,495)

​

​

92,858

​

​

(15,495)

States and political subdivisions securities

​

​

—

​

​

—

​

​

5,501

​

​

(650)

​

​

5,501

​

​

(650)

​

​

$

—

​

$

—

​

$

162,765

​

$

(24,668)

​

$

162,765

​

$

(24,668)
v3.25.4
Loans and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2025
Loans and Allowance for Credit Losses  
Schedule of classes of loans

​

​

​

​

​

​

​

​

​

​

December 31, 

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

One- to four-family residential construction

  ​ ​ ​

$

30,258

  ​ ​ ​

$

30,533

Subdivision construction

​

 

32,160

​

 

19,861

Land development

​

 

37,519

​

 

42,504

Commercial construction

​

 

249,224

​

 

352,793

Owner occupied one- to four-family residential

​

 

656,699

​

 

710,446

Non-owner occupied one- to four-family residential

​

 

125,298

​

 

122,901

Commercial real estate

​

 

1,556,148

​

 

1,543,742

Other residential (multi-family)

​

 

1,387,410

​

 

1,549,249

Commercial business

​

 

178,514

​

 

220,291

Consumer auto

​

 

24,169

​

 

25,787

Consumer other

​

 

22,249

​

 

27,905

Home equity lines of credit

​

 

128,030

​

 

115,836

​

​

 

4,427,678

​

 

4,761,848

Allowance for credit losses

​

 

(64,771)

​

 

(64,760)

Deferred loan fees and gains, net

​

 

(6,054)

​

 

(6,695)

​

​

$

4,356,853

​

$

4,690,393
Schedule of classes of loans by aging as of the dates indicated

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Loans

​

​

​

​

​

​

​

​

Over 90

​

​

​

​

​

​

​

Total

​

> 90 Days Past

​

​

30-59 Days

​

60-89 Days

​

Days

​

Total Past

​

​

​

​

Loans

​

Due and

​

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Due

  ​ ​ ​

Current

  ​ ​ ​

Receivable

  ​ ​ ​

Still Accruing

​

​

(In Thousands)

One- to four-family residential construction

​

$

—

​

$

—

​

$

—

​

$

—

​

$

30,258

​

$

30,258

​

$

—

Subdivision construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

32,160

​

​

32,160

​

​

—

Land development

​

 

—

​

​

—

​

​

—

​

​

—

​

​

37,519

​

​

37,519

​

​

—

Commercial construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

249,224

​

​

249,224

​

​

—

Owner occupied one- to four- family residential

​

 

830

​

​

521

​

​

631

​

​

1,982

​

​

654,717

​

​

656,699

​

​

—

Non-owner occupied one- to four-family residential

​

 

—

​

​

—

​

​

1,435

​

​

1,435

​

​

123,863

​

​

125,298

​

​

—

Commercial real estate

​

 

70

​

​

—

​

​

—

​

​

70

​

​

1,556,078

​

​

1,556,148

​

​

—

Other residential (multi-family)

​

 

24,762

​

​

—

​

​

—

​

​

24,762

​

​

1,362,648

​

​

1,387,410

​

​

—

Commercial business

​

 

—

​

​

—

​

​

—

​

​

—

​

​

178,514

​

​

178,514

​

​

—

Consumer auto

​

 

27

​

​

12

​

​

—

​

​

39

​

​

24,130

​

​

24,169

​

​

—

Consumer other

​

 

128

​

​

30

​

​

10

​

​

168

​

​

22,081

​

​

22,249

​

​

—

Home equity lines of credit

​

 

74

​

​

—

​

​

18

​

​

92

​

​

127,938

​

​

128,030

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total

​

$

25,891

​

$

563

​

$

2,094

​

$

28,548

​

$

4,399,130

​

$

4,427,678

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2024

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total Loans

​

​

​

​

​

​

​

​

Over 90

​

​

​

​

​

​

​

Total

​

> 90 Days Past

​

​

30-59 Days

​

60-89 Days

​

Days

​

Total Past

​

​

​

​

Loans

​

Due and

​

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Due

  ​ ​ ​

Current

  ​ ​ ​

Receivable

  ​ ​ ​

Still Accruing

​

​

(In Thousands)

One- to four-family residential construction

​

$

12

​

$

—

​

$

—

​

$

12

​

$

30,521

​

$

30,533

​

$

—

Subdivision construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

19,861

​

​

19,861

​

​

—

Land development

​

 

—

​

​

—

​

​

464

​

​

464

​

​

42,040

​

​

42,504

​

​

—

Commercial construction

​

 

—

​

​

—

​

​

—

​

​

—

​

​

352,793

​

​

352,793

​

​

—

Owner occupied one- to four- family residential

​

 

1,704

​

​

816

​

​

950

​

​

3,470

​

​

706,976

​

​

710,446

​

​

—

Non-owner occupied one- to four-family residential

​

 

642

​

​

—

​

​

1,681

​

​

2,323

​

​

120,578

​

​

122,901

​

​

—

Commercial real estate

​

 

—

​

​

—

​

​

77

​

​

77

​

​

1,543,665

​

​

1,543,742

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

​

​

—

​

​

—

​

​

1,549,249

​

​

1,549,249

​

​

—

Commercial business

​

 

—

​

​

—

​

​

384

​

​

384

​

​

219,907

​

​

220,291

​

​

—

Consumer auto

​

 

39

​

​

1

​

​

—

​

​

40

​

​

25,747

​

​

25,787

​

​

—

Consumer other

​

 

145

​

​

4

​

​

17

​

​

166

​

​

27,739

​

​

27,905

​

​

—

Home equity lines of credit

​

 

63

​

​

56

​

​

—

​

​

119

​

​

115,717

​

​

115,836

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Total

​

$

2,605

​

$

877

​

$

3,573

​

$

7,055

​

$

4,754,793

​

$

4,761,848

​

$

—
Schedule of nonaccruing loans

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

One- to four-family residential construction

​

$

—

​

$

—

Subdivision construction

​

 

—

​

 

—

Land development

​

 

—

​

 

464

Commercial construction

​

 

—

​

 

—

Owner occupied one- to four-family residential

​

 

631

​

 

950

Non-owner occupied one- to four-family residential

​

 

1,435

​

 

1,681

Commercial real estate

​

 

—

​

 

77

Other residential (multi-family)

​

 

—

​

 

—

Commercial business

​

 

—

​

 

384

Consumer auto

​

 

—

​

 

—

Consumer other

​

 

10

​

 

17

Home equity lines of credit

​

 

18

​

 

—

Total nonaccruing loans

​

$

2,094

​

$

3,573
Schedule of activity in the allowance for credit losses and unfunded commitments by portfolio segment

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to Four-

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

and

​

Other

​

Commercial

​

Commercial

​

Commercial

​

​

​

​

​

​

​

  ​ ​ ​

Construction

  ​ ​ ​

Residential

  ​ ​ ​

Real Estate

  ​ ​ ​

Construction

  ​ ​ ​

Business

  ​ ​ ​

Consumer

  ​ ​ ​

Total

​

  ​ ​ ​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

 

​

  ​

Balance, January 1, 2025

​

$

9,224

​

$

15,594

​

$

28,802

​

$

2,735

​

$

4,656

​

$

3,749

​

$

64,760

Provision (credit) charged to expense

​

 

(1,728)

​

​

2,882

​

​

429

​

​

(660)

​

​

(932)

​

​

9

​

​

—

Losses charged off

​

 

(46)

​

​

—

​

​

(8)

​

​

—

​

​

(179)

​

​

(1,073)

​

​

(1,306)

Recoveries

​

 

33

​

​

—

​

​

—

​

​

321

​

​

366

​

​

597

​

​

1,317

Balance, December 31, 2025

​

$

7,483

​

$

18,476

​

$

29,223

​

$

2,396

​

$

3,911

​

$

3,282

​

$

64,771

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2024

​

$

9,820

​

$

13,370

​

$

28,171

​

$

2,844

​

$

6,935

​

$

3,530

​

$

64,670

Provision (credit) charged to expense

​

​

(570)

​

​

2,224

​

​

1,931

​

​

(202)

​

​

(2,526)

​

​

843

​

​

1,700

Losses charged off

​

​

(64)

​

​

—

​

​

(1,300)

​

​

(101)

​

​

(243)

​

​

(1,492)

​

​

(3,200)

Recoveries

​

​

38

​

​

—

​

​

—

​

​

194

​

​

490

​

​

868

​

​

1,590

Balance, December 31, 2024

​

$

9,224

​

$

15,594

​

$

28,802

​

$

2,735

​

$

4,656

​

$

3,749

​

$

64,760

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for credit losses

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2023

​

$

11,171

​

$

12,110

​

$

27,096

​

$

2,865

​

$

5,822

​

$

4,416

​

$

63,480

Provision (credit) charged to expense

​

​

(1,390)

​

​

1,260

​

​

930

​

​

(27)

​

​

1,909

​

​

(432)

​

​

2,250

Losses charged off

​

​

(31)

​

​

—

​

​

—

​

​

—

​

​

(1,037)

​

​

(1,754)

​

​

(2,822)

Recoveries

​

​

70

​

​

—

​

​

145

​

​

6

​

​

241

​

​

1,300

​

​

1,762

Balance, December 31, 2023

​

$

9,820

​

$

13,370

​

$

28,171

​

$

2,844

​

$

6,935

​

$

3,530

​

$

64,670

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to Four-

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Family

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

and

​

Other

​

Commercial

​

Commercial

​

Commercial

​

​

​

​

​

​

​

  ​ ​ ​

Construction

  ​ ​ ​

Residential

  ​ ​ ​

Real Estate

  ​ ​ ​

Construction

  ​ ​ ​

Business

  ​ ​ ​

Consumer

  ​ ​ ​

Total

​

​

(In Thousands)

Allowance for unfunded commitments

  ​ ​ ​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

​

​

  ​

Balance, January 1, 2025

​

$

619

​

$

4,833

​

$

653

​

$

496

​

$

1,468

​

$

434

​

$

8,503

Provision (credit) charged to expense

​

​

348

​

​

(253)

​

​

46

​

​

141

​

​

(166)

​

​

(71)

​

​

45

Balance, December 31, 2025

​

$

967

​

$

4,580

​

$

699

​

$

637

​

$

1,302

​

$

363

​

$

8,548

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for unfunded commitments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2024

​

$

706

​

$

4,006

​

$

619

​

$

741

​

$

959

​

$

456

​

$

7,487

Provision (credit) charged to expense

​

​

(87)

​

​

827

​

​

34

​

​

(245)

​

​

509

​

​

(22)

​

​

1,016

Balance, December 31, 2024

​

$

619

​

$

4,833

​

$

653

​

$

496

​

$

1,468

​

$

434

​

$

8,503

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Allowance for unfunded commitments

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Balance, January 1, 2023

​

$

736

​

$

8,624

​

$

416

​

$

802

​

$

1,734

​

$

504

​

$

12,816

Provision (credit) charged to expense

​

​

(30)

​

​

(4,618)

​

​

203

​

​

(61)

​

​

(775)

​

​

(48)

​

​

(5,329)

Balance, December 31, 2023

​

$

706

​

$

4,006

​

$

619

​

$

741

​

$

959

​

$

456

​

$

7,487

​
Schedule of amortized cost basis of collateral-dependent loans by class of loans

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

Principal

​

Specific

​

  ​ ​ ​

Balance

  ​ ​ ​

Allowance

​

 

(In Thousands)

One- to four-family residential construction

​

$

—

​

$

—

Subdivision construction

​

 

—

​

​

—

Land development

​

 

—

​

​

—

Commercial construction

​

 

—

​

​

—

Owner occupied one- to four-family residential

​

 

1,207

​

​

—

Non-owner occupied one- to four-family residential

​

 

1,435

​

​

—

Commercial real estate

​

 

—

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

Commercial business

​

 

—

​

​

—

Consumer auto

​

 

—

​

​

—

Consumer other

​

 

—

​

​

—

Home equity lines of credit

​

 

—

​

​

—

​

​

​

​

​

​

​

Total

​

$

2,642

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

Principal

​

Specific

​

  ​ ​ ​

Balance

  ​ ​ ​

Allowance

​

​

(In Thousands)

One- to four-family residential construction

  ​ ​ ​

$

—

​

$

—

Subdivision construction

​

 

—

​

​

—

Land development

​

 

464

​

​

12

Commercial construction

​

 

—

​

​

—

Owner occupied one- to four-family residential

​

 

1,677

​

​

—

Non-owner occupied one- to four-family residential

​

 

1,681

​

​

261

Commercial real estate

​

 

4,253

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

Commercial business

​

 

384

​

​

245

Consumer auto

​

 

—

​

​

—

Consumer other

​

 

—

​

​

—

Home equity lines of credit

​

 

1,390

​

​

—

​

​

​

​

​

​

​

Total

​

$

9,849

​

$

518
Schedule of loan modifications made to borrowers experiencing financial difficulty by the loan portfolio and type of concessions granted

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amortized Cost Basis at December 31, 2025

​

​

Interest Rate

​

Term

​

​

​

​

Total

​

​

Reduction

  ​ ​ ​

Extension

  ​ ​ ​

Combination

  ​ ​ ​

Modifications

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

 

—

​

​

—

​

​

—

​

​

—

Other residential

​

 

—

​

​

—

​

​

—

​

​

—

Commercial real estate

​

 

—

​

​

—

​

​

—

​

​

—

Commercial business

​

 

—

​

​

—

​

​

—

​

​

—

Consumer

​

 

5

​

​

—

​

​

—

​

​

5

​

​

$

5

​

$

—

​

$

—

​

$

5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amortized Cost Basis at December 31, 2024

​

​

Interest Rate

​

Term

​

​

​

​

Total

​

​

Reduction

  ​ ​ ​

Extension

  ​ ​ ​

Combination

  ​ ​ ​

Modifications

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

 

—

​

​

—

​

​

—

​

​

—

Other residential

​

 

—

​

​

2,709

​

​

—

​

​

2,709

Commercial real estate

​

 

—

​

​

70

​

​

—

​

​

70

Commercial business

​

 

—

​

​

—

​

​

—

​

​

—

Consumer

​

 

—

​

​

31

​

​

—

​

​

31

​

​

$

—

​

$

2,810

​

$

—

​

$

2,810
Schedule of performance of loans that are modified

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

​

​

​

30-89 Days

​

Over 90 Days

​

​

​

​

  ​ ​ ​

Current

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Total

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

 

—

​

​

—

​

​

—

​

​

—

Other residential (multi-family)

​

 

—

​

​

—

​

​

—

​

​

—

Commercial real estate

​

 

—

​

​

—

​

​

—

​

​

—

Commercial business

​

​

—

​

​

—

​

​

—

​

​

—

Consumer

​

​

5

​

​

—

​

​

—

​

​

5

​

​

$

5

​

$

—

​

$

—

​

$

5

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

​

​

​

​

30-89 Days

​

Over 90 Days

​

​

​

​

  ​ ​ ​

Current

  ​ ​ ​

Past Due

  ​ ​ ​

Past Due

  ​ ​ ​

Total

​

​

(In Thousands)

Construction and land development

​

$

—

​

$

—

​

$

—

​

$

—

One- to four-family residential

​

​

—

​

​

—

​

​

—

​

​

—

Other residential (multi-family)

​

 

2,709

​

​

—

​

​

—

​

​

2,709

Commercial real estate

​

​

70

​

​

—

​

​

—

​

​

70

Commercial business

​

​

—

​

​

—

​

​

—

​

​

—

Consumer

​

 

31

​

​

—

​

​

—

​

​

31

​

​

$

2,810

​

$

—

​

$

—

​

$

2,810

​
Schedule of loans by category and risk rating separated by origination and loan class

The following tables present a summary of loans by category and risk rating separated by origination and loan class as of December 31, 2025 and December 31, 2024.

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Term Loans by Origination Year

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revolving

​

​

 

December 31, 2025

  ​

2025

  ​

2024

  ​

2023

  ​

2022

  ​

2021

  ​

Prior

  ​

Loans

  ​

Total

​

​

(In Thousands)

One- to four-family residential construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

$

18,452

​

$

4,606

​

$

2,611

​

$

1,242

​

$

—

​

$

—

​

$

3,347

​

$

30,258

Watch (5)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Total

​

​

18,452

​

​

4,606

​

​

2,611

​

​

1,242

​

​

—

​

​

—

​

​

3,347

​

​

30,258

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Subdivision construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

924

​

​

2,745

​

​

278

​

​

260

​

​

16,146

​

​

428

​

​

11,379

​

​

32,160

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

924

​

​

2,745

​

​

278

​

​

260

​

​

16,146

​

​

428

​

​

11,379

​

​

32,160

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction and land development

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

11,147

​

​

9,046

​

​

6,573

​

​

1,097

​

​

368

​

​

6,413

​

​

2,875

​

​

37,519

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

11,147

​

​

9,046

​

​

6,573

​

​

1,097

​

​

368

​

​

6,413

​

​

2,875

​

​

37,519

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

35,846

​

​

166,912

​

​

7,448

​

​

38,049

​

​

969

​

​

—

​

​

—

​

​

249,224

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

35,846

​

​

166,912

​

​

7,448

​

​

38,049

​

​

969

​

​

—

​

​

—

​

​

249,224

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

65,388

​

​

39,406

​

​

49,967

​

​

267,992

​

​

153,547

​

​

200,389

​

​

1,340

​

​

778,029

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

724

​

​

—

​

​

724

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

28

​

​

71

​

​

507

​

​

268

​

​

1,756

​

​

614

​

​

3,244

Total

​

​

65,388

​

​

39,434

​

​

50,038

​

​

268,499

​

​

153,815

​

​

202,869

​

​

1,954

​

​

781,997

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

21

​

​

16

​

​

9

​

​

—

​

​

46

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other residential (multi-family)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

99,386

​

​

153,763

​

​

113,657

​

​

541,044

​

​

266,906

​

​

182,230

​

​

2,999

​

​

1,359,985

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,663

​

​

—

​

​

2,663

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

24,762

​

​

—

​

​

—

​

​

24,762

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

99,386

​

​

153,763

​

​

113,657

​

​

541,044

​

​

291,668

​

​

184,893

​

​

2,999

​

​

1,387,410

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

122,684

​

​

142,179

​

​

93,260

​

​

305,833

​

​

194,448

​

​

640,276

​

​

34,936

​

​

1,533,616

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

10,548

​

​

—

​

​

2,964

​

​

—

​

​

13,512

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

9,020

​

​

—

​

​

9,020

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

122,684

​

​

142,179

​

​

93,260

​

​

316,381

​

​

194,448

​

​

652,260

​

​

34,936

​

​

1,556,148

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

8

​

​

—

​

​

—

​

​

8

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial business

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

31,698

​

​

22,010

​

​

9,959

​

​

13,490

​

​

15,629

​

​

38,256

​

​

44,170

​

​

175,212

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

805

​

​

2,473

​

​

24

​

​

—

​

​

3,302

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

31,698

​

​

22,010

​

​

9,959

​

​

14,295

​

​

18,102

​

​

38,280

​

​

44,170

​

​

178,514

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

135

​

​

44

​

​

179

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

15,703

​

​

9,937

​

​

4,651

​

​

2,530

​

​

1,015

​

​

7,509

​

​

131,623

​

​

172,968

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

188

​

​

70

​

​

258

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

983

​

​

983

Classified (7-9)

​

​

—

​

​

10

​

​

15

​

​

2

​

​

11

​

​

43

​

​

158

​

​

239

Total

​

​

15,703

​

​

9,947

​

​

4,666

​

​

2,532

​

​

1,026

​

​

7,740

​

​

132,834

​

​

174,448

Current Period Gross Charge Offs

​

​

58

​

​

63

​

​

33

​

​

23

​

​

2

​

​

888

​

​

6

​

​

1,073

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Combined

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

401,228

​

​

550,604

​

​

288,404

​

​

1,171,537

​

​

649,028

​

​

1,075,501

​

​

232,669

​

​

4,368,971

Watch (5)

​

​

—

​

​

—

​

​

—

​

 

11,353

​

​

2,473

​

​

6,563

​

​

70

​

​

20,459

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

24,762

​

​

9,020

​

​

983

​

​

34,765

Classified (7-9)

​

​

—

​

​

38

​

​

86

​

 

509

​

​

279

​

​

1,799

​

​

772

​

​

3,483

Total

​

$

401,228

​

$

550,642

​

$

288,490

​

$

1,183,399

​

$

676,542

​

$

1,092,883

​

$

234,494

​

$

4,427,678

Current Period Gross Charge Offs

​

$

58

​

$

63

​

$

33

​

$

44

​

$

26

​

$

1,032

​

$

50

​

$

1,306

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Term Loans by Origination Year

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Revolving

​

​

​

December 31, 2024

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

2022

  ​ ​ ​

2021

  ​ ​ ​

2020

  ​ ​ ​

Prior

  ​ ​ ​

Loans

  ​ ​ ​

Total

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

$

11,750

​

$

8,961

​

$

822

​

$

—

​

$

—

​

$

—

​

$

9,000

​

$

30,533

Watch (5)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

 

—

​

​

—

​

 

—

​

​

—

​

​

—

Total

​

​

11,750

​

​

8,961

​

​

822

​

 

—

​

​

—

​

 

—

​

​

9,000

​

​

30,533

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Subdivision construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

711

​

​

182

​

​

136

​

​

17,609

​

​

29

​

​

205

​

​

989

​

​

19,861

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

711

​

​

182

​

​

136

​

 

17,609

​

​

29

​

 

205

​

​

989

​

​

19,861

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Construction and land development

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

18,282

​

​

6,112

​

​

2,722

​

​

5,210

​

​

3,105

​

​

4,236

​

​

2,373

​

​

42,040

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

464

​

​

—

​

​

—

​

​

464

Total

​

​

18,282

​

​

6,112

​

​

2,722

​

 

5,210

​

​

3,569

​

 

4,236

​

​

2,373

​

​

42,504

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

101

​

​

—

​

​

101

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other construction

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

78,337

​

​

52,046

​

​

189,389

​

​

33,021

​

​

—

​

​

—

​

​

—

​

​

352,793

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

78,337

​

​

52,046

​

​

189,389

​

​

33,021

​

​

—

​

​

—

​

​

—

​

​

352,793

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

One- to four-family residential

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

42,931

​

​

59,973

​

​

304,054

​

​

176,759

​

​

91,238

​

​

153,392

​

​

426

​

​

828,773

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

145

​

​

597

​

​

—

​

​

742

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

628

​

​

387

​

​

129

​

​

—

​

​

1,178

​

​

1,510

​

​

3,832

Total

​

​

42,931

​

​

60,601

​

​

304,441

​

​

176,888

​

​

91,383

​

​

155,167

​

​

1,936

​

​

833,347

Current Period Gross Charge Offs

​

​

—

​

​

49

​

​

—

​

​

—

​

​

—

​

​

16

​

​

—

​

​

65

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Other residential (multi-family)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

66,028

​

​

92,268

​

​

552,183

​

​

506,902

​

​

179,094

​

​

146,712

​

​

3,352

​

​

1,546,539

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

2,710

​

​

—

​

​

2,710

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Total

​

​

66,028

​

​

92,268

​

​

552,183

​

​

506,902

​

​

179,094

​

​

149,422

​

​

3,352

​

​

1,549,249

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial real estate

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

97,512

​

​

81,282

​

​

320,442

​

​

217,049

​

​

96,246

​

​

682,549

​

​

35,937

​

​

1,531,017

Watch (5)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

7,879

​

​

—

​

​

7,879

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

438

​

​

—

​

​

438

Classified (7-9)

​

​

—

​

​

—

​

​

—

​

​

77

​

​

—

​

​

4,331

​

​

—

​

​

4,408

Total

​

​

97,512

​

​

81,282

​

​

320,442

​

​

217,126

​

​

96,246

​

​

695,197

​

​

35,937

​

​

1,543,742

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

54

​

​

10

​

​

—

​

​

1,236

​

​

—

​

​

1,300

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Commercial business

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

21,179

​

​

29,846

​

​

28,678

​

​

20,301

​

​

7,646

​

​

44,908

​

​

62,015

​

​

214,573

Watch (5)

​

​

—

​

​

—

​

​

1,005

​

​

3,296

​

​

—

​

​

—

​

​

—

​

​

4,301

Special Mention (6)

​

​

—

​

​

—

​

​

995

​

​

—

​

​

38

​

​

—

​

​

—

​

​

1,033

Classified (7-9)

​

​

—

​

​

245

​

​

—

​

​

—

​

​

—

​

​

139

​

​

—

​

​

384

Total

​

​

21,179

​

​

30,091

​

​

30,678

​

​

23,597

​

​

7,684

​

​

45,047

​

​

62,015

​

​

220,291

Current Period Gross Charge Offs

​

​

—

​

​

—

​

​

—

​

​

4

​

​

27

​

​

164

​

​

48

​

​

243

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Consumer

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

17,391

​

​

9,234

​

​

6,147

​

​

2,618

​

​

1,151

​

​

10,478

​

​

120,653

​

​

167,672

Watch (5)

​

​

—

​

​

—

​

​

5

​

​

—

​

​

4

​

​

194

​

​

107

​

​

310

Special Mention (6)

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

​

​

—

Classified (7-9)

​

​

1

​

​

9

​

​

11

​

​

20

​

​

—

​

​

53

​

​

1,452

​

​

1,546

Total

​

​

17,392

​

​

9,243

​

​

6,163

​

​

2,638

​

​

1,155

​

​

10,725

​

​

122,212

​

​

169,528

Current Period Gross Charge Offs

​

​

13

​

​

105

​

​

122

​

​

32

​

​

4

​

​

1,161

​

​

54

​

​

1,491

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Combined

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Satisfactory (1-4)

​

​

354,121

​

​

339,904

​

​

1,404,573

​

 

979,469

​

​

378,509

​

 

1,042,480

​

​

234,745

​

​

4,733,801

Watch (5)

​

​

—

​

​

—

​

​

1,010

​

 

3,296

​

​

149

​

 

11,380

​

​

107

​

​

15,942

Special Mention (6)

​

​

—

​

​

—

​

​

995

​

 

—

​

​

38

​

 

438

​

​

—

​

​

1,471

Classified (7-9)

​

​

1

​

​

882

​

​

398

​

 

226

​

​

464

​

 

5,701

​

​

2,962

​

​

10,634

Total

​

$

354,122

​

$

340,786

​

$

1,406,976

​

$

982,991

​

$

379,160

​

$

1,059,999

​

$

237,814

​

$

4,761,848

Current Period Gross Charge Offs

​

$

13

​

$

154

​

$

176

​

$

46

​

$

31

​

$

2,678

​

$

102

​

$

3,200
Schedule of related party transactions

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Balance, beginning of year

​

$

8,345

​

$

16,026

New loans and draws

​

 

12,651

​

 

7,446

Payments

​

 

(2,522)

​

 

(15,127)

​

​

​

​

​

​

​

Balance, end of year

​

$

18,474

​

$

8,345

​
v3.25.4
Other Real Estate Owned and Repossessions (Tables)
 12 Months Ended
Dec. 31, 2025
Other Real Estate Owned and Repossessions  
Schedule of major classifications of other real estate owned

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

Foreclosed assets held for sale and repossessions

 

​

  ​

 

​

  ​

One- to four-family construction

​

$

—

​

$

—

Subdivision construction

​

 

—

​

 

—

Land development

​

 

—

​

 

—

Commercial construction

​

 

—

​

 

—

One- to four-family residential

​

 

—

​

 

—

Other residential

​

 

—

​

 

—

Commercial real estate

​

 

6,025

​

 

5,960

Commercial business

​

 

—

​

 

—

Consumer

​

 

11

​

 

33

​

​

​

​

​

​

​

Foreclosed assets held for sale and repossessions

​

 

6,036

​

 

5,993

​

​

​

​

​

​

​

Other real estate owned not acquired through foreclosure

​

 

—

​

 

—

​

​

​

​

​

​

​

Other real estate owned and repossessions

​

$

6,036

​

$

5,993
Schedule of expenses (income) applicable to other real estate owned and repossessions

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Net gains on sales of other real estate owned and repossessions

​

$

(8)

​

$

(496)

​

$

(42)

Valuation write-downs

​

 

12

​

 

—

​

 

81

Operating expenses, net of rental income

​

 

(522)

​

 

192

​

 

272

​

​

​

​

​

​

​

​

​

​

​

​

$

(518)

​

$

(304)

​

$

311

​
v3.25.4
Premises and Equipment (Tables)
 12 Months Ended
Dec. 31, 2025
Premises and Equipment  
Schedule of major classifications of premises and equipment, stated at cost

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Land

​

$

40,250

​

$

39,340

Buildings and improvements

​

 

110,536

​

 

107,525

Furniture, fixtures and equipment

​

 

72,121

​

 

69,916

Operating leases right of use asset

​

 

4,161

​

 

6,390

​

​

 

227,068

​

 

223,171

Less accumulated depreciation

​

 

93,811

​

 

90,705

​

​

$

133,257

​

$

132,466
Schedule of calculated amounts of the right of use assets and lease liabilities

​

​

​

​

​

​

​

​

​

​

At or For the Year Ended

​

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

​

​

(In Thousands)

Statement of Financial Condition

 

​

  ​

​

​

​

Operating leases right of use asset

​

$

4,161

​

$

6,390

Operating leases liability

​

$

4,236

​

$

6,621

​

​

​

​

​

​

​

Statement of Income

​

 

​

​

 

​

Operating lease costs classified as occupancy and equipment expense

​

$

1,697

​

$

1,735

(includes short-term lease costs and amortization of right of use asset)

​

​

​

​

​

​

​

​

​

​

​

​

​

Supplemental Cash Flow Information

​

 

​

​

 

​

Cash paid for amounts included in the measurement of lease liabilities:

​

 

​

​

 

​

Operating cash flows from operating leases

​

$

1,692

​

$

1,717

Right of use assets obtained in exchange for lease obligations and adjustments for lease expected lives:

​

 

​

​

 

​

Operating leases

​

$

(1,136)

​

$

814
Schedule of future expected lease payments for leases with terms exceeding one year

​

​

​

​

​

2026

  ​ ​ ​

$

1,281

2027

​

 

1,124

2028

​

 

881

2029

​

 

411

2030

​

 

257

Thereafter

​

 

768

​

​

​

​

Future lease payments expected

​

 

4,722

​

​

​

​

Less interest portion of lease payments

​

 

(486)

​

​

​

​

Lease liability

​

$

4,236

​
v3.25.4
Deposits (Tables)
 12 Months Ended
Dec. 31, 2025
Deposits  
Schedule of deposits

​

​

​

​

​

​

​

​

​

​

​

​

Weighted Average

​

​

​

​

​

​

​

  ​ ​ ​

Interest Rate

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

(In Thousands, Except Interest Rates)

​

​

​

​

​

​

​

​

​

Non-interest-bearing accounts

 

—

​

$

841,515

​

$

842,931

Interest-bearing checking and savings accounts

 

1.20% and 1.39%

  ​

 

2,289,393

​

 

2,214,732

​

 

​

​

 

3,130,908

​

 

3,057,663

​

​

​

​

​

​

​

​

​

Certificate accounts

 

0.00% - 0.99%

​

 

31,380

​

 

52,720

​

 

1.00% - 1.99%

​

 

94,864

​

 

75,938

​

 

2.00% - 2.99%

​

 

22,720

​

 

8,244

​

 

3.00% - 3.99%

​

 

537,043

​

 

89,967

​

 

4.00% - 4.99%

​

 

2,432

​

 

548,903

​

 

5.00% and above

​

 

—

​

 

—

​

 

3.13% and 3.62%

​

 

688,439

​

 

775,772

​

​

​

​

​

​

​

​

​

Brokered deposits

​

3.80% and 4.61%

​

​

663,427

​

​

772,114

​

​

​

​

​

663,427

​

​

772,114

​

​

​

​

​

​

​

​

​

​

 

​

​

$

4,482,774

​

$

4,605,549
Schedule of Maturities of certificates of deposit

At December 31, 2025, scheduled maturities of certificates of deposit and brokered deposits were as follows:

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Retail

  ​ ​ ​

Brokered

  ​ ​ ​

Total

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

2026

​

$

679,400

​

$

463,427

​

$

1,142,827

2027

​

 

6,009

​

​

150,000

​

​

156,009

2028

​

 

1,302

​

​

50,000

​

​

51,302

2029

​

 

672

​

​

—

​

​

672

2030

​

 

343

​

​

—

​

​

343

Thereafter

​

 

713

​

​

—

​

​

713

​

​

​

​

​

​

​

​

​

​

​

​

$

688,439

​

$

663,427

​

$

1,351,866

​
Schedule of Interest Expense on Deposit Liabilities

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Checking and savings accounts

​

$

31,405

​

$

38,140

​

$

28,579

Certificate accounts

​

 

25,209

​

 

34,262

​

 

29,796

Brokered deposits

​

​

37,670

​

​

37,537

​

​

30,719

Early withdrawal penalties

​

 

(147)

​

 

(234)

​

 

(337)

​

​

​

​

​

​

​

​

​

​

​

​

$

94,137

​

$

109,705

​

$

88,757

​
v3.25.4
Short-Term Borrowings (Tables)
 12 Months Ended
Dec. 31, 2025
Short-Term Borrowings.  
Schedule of short-term debt

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Notes payable – Community Development Equity Funds

​

$

928

​

$

1,247

Securities sold under reverse repurchase agreements

​

 

48,467

​

 

64,444

Short-term borrowings from Federal Reserve Bank

​

 

—

​

 

180,000

Overnight borrowings from the Federal Home Loan Bank

​

 

330,000

​

 

333,000

​

​

​

​

​

​

​

​

​

$

379,395

​

$

578,691
Schedule of securities sold under reverse repurchase agreements, by collateral type and remaining contractual maturity

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

 

​

(In Thousands)

​

​

​

​

​

​

​

Mortgage-backed securities – GNMA, FNMA, FHLMC

​

$

48,467

​

$

64,444

​
v3.25.4
Subordinated Debentures Issued to Capital Trusts (Tables)
 12 Months Ended
Dec. 31, 2025
Subordinated Debentures Issued to Capital Trusts  
Schedule of subordinated debentures issued to capital trusts

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Subordinated debentures

​

$

25,774

  ​ ​ ​

$

25,774

​
v3.25.4
Subordinated Notes (Tables)
 12 Months Ended
Dec. 31, 2025
Subordinated Notes  
Summary of subordinated notes

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Subordinated notes

​

$

—

​

$

75,000

Less: unamortized debt issuance costs

​

 

—

​

 

124

​

​

$

—

​

$

74,876

​
v3.25.4
Income Taxes (Tables)
 12 Months Ended
Dec. 31, 2025
Income Taxes  
Schedule of provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Current federal income tax expense

​

$

16,016

​

$

11,392

​

$

12,825

Current state income tax expense

​

 

1,623

​

 

1,841

​

 

1,734

Deferred income tax expense

​

 

(1,315)

​

 

457

​

 

2,985

​

​

​

​

​

​

​

​

​

​

Income tax expense

​

$

16,324

​

$

13,690

​

$

17,544
Schedule of deferred tax assets and liabilities

​

​

​

​

​

​

​

​

​

​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

Deferred tax assets

 

​

  ​

 

​

  ​

Allowance for credit losses

​

$

15,935

​

$

15,933

Liability for unfunded commitments

​

​

2,103

​

​

2,092

Interest on nonperforming loans

​

 

39

​

 

93

Accrued expenses and other

​

 

1,479

​

 

2,123

Capital loss carryforward

​

 

240

​

 

158

Tax credit carryforward

​

​

3,047

​

​

—

Unrealized loss on available-for-sale securities

​

​

9,005

​

​

15,055

Unrealized loss on securities transferred to held-to-maturity securities

​

​

127

​

​

64

Unrealized loss on active cash flow derivatives

​

​

1,375

​

​

4,186

Income recognized for tax in excess of book related to terminated cash flow derivatives

​

 

—

​

 

1,528

Deferred income

​

 

75

​

 

100

​

​

 

33,425

​

 

41,332

​

​

​

​

​

​

​

Deferred tax liabilities

​

 

  ​

​

 

  ​

Tax depreciation in excess of book depreciation

​

 

(7,256)

​

 

(6,654)

Partnership tax credits

​

 

(333)

​

 

(1,899)

Prepaid expenses

​

 

(1,035)

​

 

(781)

Difference in basis for acquired assets and liabilities

​

​

(346)

​

​

(31)

Unrealized gain on terminated cash flow derivatives

​

 

—

​

 

(1,528)

Other

​

 

(353)

​

 

(263)

​

​

 

(9,323)

​

 

(11,156)

​

​

​

​

​

​

​

Net deferred tax asset

​

$

24,102

​

$

30,176
Schedule of reconciliations of the company's effective tax rates to the statutory corporate tax rates

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

​

​

(Dollars In Thousands)

​

Tax at statutory rate

 

$

18,332

​

21.0

%  

$

15,854

​

21.0

%  

$

17,922

​

21.0

%

Nontaxable interest and dividends

 

​

(205)

​

(0.2)

 

​

(378)

​

(0.5)

 

​

(433)

​

(0.5)

​

U.S. federal tax credits, net (predominantly low-income housing)

 

​

(3,853)

​

(4.4)

 

​

(3,319)

​

(4.4)

 

​

(2,290)

​

(2.7)

​

State income/franchise taxes, net of federal benefit

 

​

1,354

​

1.6

 

​

1,279

​

1.7

 

​

1,467

​

1.7

​

Other

 

​

696

​

0.7

 

​

254

​

0.3

 

​

878

​

1.1

​

​

 

$

16,324

​

18.7

%  

$

13,690

​

18.1

%  

$

17,544

​

20.6

%
v3.25.4
Disclosures About Fair Value of Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 2025
Disclosures About Fair Value of Financial Instruments  
Schedule of fair value measurements of assets recognized in the accompanying statements of financial condition measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

Fair Value Measurements Using

​

​

​

​

​

Quoted Prices

​

​

​

​

​

​

​

​

​

​

​

in Active

​

​

​

​

​

​

​

​

​

​

​

Markets

​

Other

​

Significant

​

​

​

​

​

for Identical

​

Observable

​

Unobservable

​

 

​

​

 

Assets

 

Inputs

​

Inputs

​

  ​ ​ ​ ​

Fair Value

  ​ ​ ​ ​

(Level 1)

  ​ ​ ​ ​

(Level 2)

  ​ ​ ​ ​

(Level 3)

​

 

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

Available-for-sale securities

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

301,249

​

$

—

​

$

301,249

​

$

—

Agency collateralized mortgage obligations

​

 

115,333

​

 

—

​

 

115,333

​

 

—

States and political subdivisions securities

​

 

51,398

​

 

—

​

 

51,398

​

 

—

Small Business Administration securities

​

 

55,851

​

 

—

​

 

55,851

​

 

—

Interest rate derivative asset

​

 

5,663

​

 

—

​

 

5,663

​

 

—

Interest rate derivative liability

​

 

(11,236)

​

 

—

​

 

(11,236)

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

 

​

​

 

  ​

​

 

​

​

 

  ​

Available-for-sale securities

​

​

​

​

​

​

​

​

​

​

​

​

Agency mortgage-backed securities

​

$

305,907

​

$

—

​

$

305,907

​

$

—

Agency collateralized mortgage obligations

​

 

113,624

​

 

—

​

 

113,624

​

 

—

States and political subdivisions securities

​

 

55,948

​

 

—

​

 

55,948

​

 

—

Small Business Administration securities

​

 

57,894

​

 

—

​

 

57,894

​

 

—

Interest rate derivative asset

​

 

8,065

​

 

—

​

 

8,065

​

 

—

Interest rate derivative liability

​

 

(25,000)

​

 

—

​

 

(25,000)

​

 

—
Schedule of fair value measurements of assets measured at fair value on a nonrecurring basis

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Fair Value Measurements Using

​

​

​

​

​

Quoted

​

​

​

​

​

​

​

​

​

​

​

Prices

​

​

​

​

​

​

​

​

​

​

​

in Active

​

​

​

​

​

​

​

​

​

​

​

Markets

​

Other

​

Significant

​

 

​

​

 

for Identical

 

Observable

​

Unobservable

​

 

​

​

 

Assets

 

Inputs

​

Inputs

​

  ​ ​ ​

Fair Value

  ​ ​ ​

(Level 1)

  ​ ​ ​

(Level 2)

  ​ ​ ​

(Level 3)

​

 

(In Thousands)

December 31, 2025

​

​

​

​

​

​

​

​

​

​

​

​

Collateral-dependent loans

​

$

—

​

$

—

​

$

—

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreclosed assets held for sale

​

$

65

​

$

—

​

$

—

​

$

65

​

​

​

​

​

​

​

​

​

​

​

​

​

December 31, 2024

​

 

​

​

 

  ​

​

 

  ​

​

 

​

Collateral-dependent loans

​

$

701

​

$

—

​

$

—

​

$

701

​

​

​

​

​

​

​

​

​

​

​

​

​

Foreclosed assets held for sale

​

$

—

​

$

—

​

$

—

​

$

—
Schedule of estimated fair values of the Company's financial instruments not recorded at fair value on the statements of financial condition

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 2025

  ​ ​ ​

December 31, 2024

​

​

Carrying

​

Fair

​

Hierarchy

​

Carrying

​

Fair

​

Hierarchy

​

  ​ ​ ​

Amount

  ​ ​ ​

Value

  ​ ​ ​

Level

  ​ ​ ​

Amount

  ​ ​ ​

Value

  ​ ​ ​

Level

​

​

(Dollars in Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial assets

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Cash and cash equivalents

​

$

189,554

​

$

189,554

 

1

​

$

195,756

​

$

195,756

 

1

Held-to-maturity securities

​

​

179,200

​

​

162,629

​

2

​

​

187,433

​

​

162,765

​

2

Mortgage loans held for sale

​

 

6,838

​

 

6,838

 

2

​

 

6,937

​

 

6,937

 

2

Loans, net of allowance for credit losses

​

 

4,356,853

​

 

4,261,757

 

3

​

 

4,690,393

​

 

4,529,729

 

3

Interest receivable

​

 

18,068

​

 

18,068

 

3

​

 

20,430

​

 

20,430

 

3

Investment in FHLB stock and other assets

​

 

20,079

​

 

20,079

 

3

​

 

28,392

​

 

28,392

 

3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Financial liabilities

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Deposits

​

 

4,482,774

​

 

4,480,770

 

3

​

 

4,605,549

​

 

4,602,312

 

3

Short-term borrowings

​

 

379,395

​

 

379,395

 

3

​

 

578,691

​

 

578,691

 

3

Subordinated debentures

​

 

25,774

​

 

25,774

 

3

​

 

25,774

​

 

25,774

 

3

Subordinated notes

​

 

—

​

 

—

 

2

​

 

74,876

​

 

74,438

 

2

Interest payable

​

 

3,612

​

 

3,612

 

3

​

 

12,761

​

 

12,761

 

3

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Unrecognized financial instruments (net of contractual value)

​

 

​

​

 

​

 

​

​

 

​

​

 

​

 

​

Commitments to originate loans

​

 

—

​

 

—

 

3

​

 

—

​

 

—

 

3

Letters of credit

​

 

53

​

 

53

 

3

​

 

72

​

 

72

 

3

Lines of credit

​

 

—

​

 

—

 

3

​

 

—

​

 

—

 

3

​
v3.25.4
Derivatives and Hedging Activities (Tables)
 12 Months Ended
Dec. 31, 2025
Derivatives and Hedging Activities  
Schedule of fair value of derivative Instruments and location in statements of financials

​

​

​

​

​

​

​

​

​

​

​

​

Location in

​

Fair Value

​

​

Consolidated Statements

​

December 31, 

​

December 31, 

​

  ​ ​ ​

of Financial Condition

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

Derivatives designated as hedging instruments

​

​

​

​

  ​

 

​

  ​

​

​

​

​

​

​

​

​

​

Derivative Liabilities

​

​

​

​

​

​

​

​

Active interest rate swaps

​

Accrued expenses and other liabilities

​

$

5,590

​

$

17,014

​

​

​

​

​

​

​

​

​

Total derivatives designated as hedging instruments

​

​

​

$

5,590

​

$

17,014

​

​

​

​

​

​

​

​

​

Derivatives not designated as hedging instruments

 

​

​

 

​

​

 

​

​

​

​

​

​

​

​

​

​

Derivative Assets

 

​

​

 

​

​

 

​

Interest rate products

 

Prepaid expenses and other assets

​

$

5,663

​

$

8,065

​

​

​

​

​

​

​

​

​

Total derivatives not designated as hedging instruments

​

​

​

$

5,663

​

$

8,065

​

 

​

​

 

​

​

 

​

Derivative Liabilities

 

​

​

 

​

​

 

​

Interest rate products

 

Accrued expenses and other liabilities

​

$

5,646

​

$

7,986

​

 

​

​

 

​

​

 

​

Total derivatives not designated as hedging instruments

​

​

​

$

5,646

​

$

7,986

​
Schedule of effect of cash flow hedge accounting through accumulated other comprehensive income on statements of comprehensive income

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amount of Gain (Loss)

​

​

Recognized in AOCI

​

​

Year Ended December 31,

Cash Flow Hedges

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

 

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Terminated interest rate swaps, net of income taxes

​

$

(4,801)

​

$

(6,286)

​

$

(6,267)

Active interest rate swaps, net of income taxes

​

​

8,614

​

​

214

​

​

10,541

​

​

$

3,813

​

$

(6,072)

​

$

4,274

​
Schedule of effect of cash flow hedge accounting on statements of operations

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Year Ended December 31, 

Cash Flow Hedges

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

Interest

​

Interest

​

Interest

​

Interest

​

Interest

​

Interest

​

  ​ ​ ​

Income

  ​ ​ ​

Expense

  ​ ​ ​

Income

  ​ ​ ​

Expense

  ​ ​ ​

Income

  ​ ​ ​

Expense

​

 

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Terminated interest rate swaps

​

$

6,209

​

$

—

​

$

8,145

​

$

—

​

$

8,122

​

$

—

Active interest rate swaps

​

​

(6,624)

​

​

—

​

​

(12,281)

​

​

—

​

​

(17,618)

​

​

—

​

​

$

(415)

​

$

—

​

$

(4,136)

​

$

—

​

$

(9,496)

​

$

—
v3.25.4
Additional Cash Flow Information (Tables)
 12 Months Ended
Dec. 31, 2025
Additional Cash Flow Information  
Schedule of cash flow, supplemental disclosures

​

​

​

​

​

​

​

​

​

​

​

​

​

Year Ended December 31,

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

Noncash Investing and Financing Activities

​

  ​

​

​

  ​

​

​

  ​

​

Foreclosed assets acquired in settlement of loans

​

$

255

​

$

15,771

​

$

142

Sale and financing of foreclosed assets

​

​

—

​

​

9,585

​

 

—

Conversion of premises and equipment to foreclosed assets

​

​

—

​

​

994

​

​

—

Increase in unfunded portion of investments in tax credit partnerships and corresponding liability for future funding upon accounting standard adoption

​

 

—

​

 

30,555

​

 

—

Dividends declared but not paid

​

 

4,761

​

 

4,692

​

 

4,722

​

​

​

​

​

​

​

​

​

​

Additional Cash Payment Information

​

 

​

​

 

​

​

 

​

Interest paid

​

 

122,648

​

 

129,019

​

​

100,405

Federal income taxes paid

​

​

3,000

​

​

1,800

​

​

6,310

Income taxes paid to state and local jurisdictions

​

 

1,327

​

 

1,853

​

​

1,578

​
v3.25.4
Stock Compensation Plans (Tables)
 12 Months Ended
Dec. 31, 2025
Stock Compensation Plans  
Schedule of share-based compensation, stock options, activity

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

Shares

  ​ ​ ​

Weighted

​

​

Available

​

Under

​

Average

​

​

to be Granted

​

Option

​

Exercise Price

​

​

​

​

​

​

​

​

Balance, January 1, 2023

 

694,850

 

1,064,917

 

$

53.671

Forfeited from terminated plan(s)

 

—

 

(9,100)

 

​

51.123

Granted from 2022 Plan

 

(210,300)

 

210,300

 

​

53.166

Exercised

 

—

 

(22,762)

 

​

38.830

Forfeited from current plan(s)

 

3,050

 

(3,050)

 

​

61.550

​

​

​

​

​

​

​

​

Balance, December 31, 2023

 

487,600

 

1,240,305

 

​

53.857

Forfeited from terminated plan(s)

​

—

​

(15,634)

​

​

51.289

Granted from 2022 Plan

​

(214,800)

​

214,800

​

​

61.706

Exercised

 

—

 

(203,601)

 

​

49.586

Forfeited from current plan(s)

 

28,549

 

(28,549)

 

​

57.483

​

​

​

​

​

​

​

​

Balance, December 31, 2024

 

301,349

 

1,207,321

​

​

55.921

Forfeited from terminated plan(s)

​

—

​

(14,784)

​

​

56.910

Granted from 2022 Plan

​

(224,975)

​

224,975

​

​

57.318

Exercised

 

—

 

(94,463)

 

​

51.029

Forfeited from current plan(s)

 

16,787

 

(16,787)

 

​

58.626

​

​

​

​

​

​

​

​

Balance, December 31, 2025

 

93,161

 

1,306,262

​

$

56.470
Schedule of fair value option pricing model assumptions

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

 

​

​

​

​

​

​

​

​

​

​

 

Expected dividends per share

​

$

1.72

​

$

1.60

​

$

1.60

 

Risk-free interest rate

 

​

3.81

%  

​

4.31

%  

​

4.51

%

Expected life of options

 

​

6 years

​

​

6 years

​

​

6 years

​

Expected volatility

 

​

24.17

%  

​

25.48

%  

​

23.69

%

Weighted average fair value of options granted during year

​

$

12.03

​

$

15.01

​

$

11.69

​
Schedule of share-based compensation, activity

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

​

​

  ​ ​ ​

Weighted

​

​

​

​

Weighted

​

Average

​

​

​

​

Average

​

Remaining

​

​

​

​

Exercise

​

Contractual

​

 

Options

 

Price

 

Term

​

​

​

​

​

​

​

​

Options outstanding, January 1, 2025

 

1,207,321

​

$

55.921

 

6.80 years

Granted

 

224,975

​

​

57.318

 

​

Exercised

 

(94,463)

​

​

51.029

 

​

Forfeited

 

(31,571)

​

​

57.822

 

​

Options outstanding, December 31, 2025

 

1,306,262

​

​

56.470

 

6.69 years

​

​

​

​

​

​

​

​

Options exercisable, December 31, 2025

 

602,881

​

$

54.268

 

4.51 years
Schedule of nonvested share activity

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

  ​ ​ ​

Weighted

  ​ ​ ​

Weighted

​

​

​

​

Average

​

Average

​

​

​

​

Exercise

​

Grant Date

​

  ​ ​ ​

Options

  ​ ​ ​

Price

  ​ ​ ​

Fair Value

​

​

​

​

​

​

​

​

​

Nonvested options, January 1, 2025

 

667,710

​

$

57.638

​

$

12.866

Granted

 

224,975

​

​

57.318

​

​

12.016

Vested this period

 

(169,810)

​

​

54.274

​

​

11.235

Nonvested options forfeited

 

(19,494)

​

​

57.294

​

​

12.653

​

​

​

​

​

​

​

​

​

Nonvested options, December 31, 2025

 

703,381

​

$

58.357

​

$

12.994
Schedule of share-based compensation arrangement by share-based payment award, options, vested and expected to vest, exercisable

The following table further summarizes information about stock options outstanding at December 31, 2025:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Options Outstanding

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

​

​

​

​

​

Weighted

​

​

​

​

Options Exercisable

​

​

​

​

Average

​

Weighted

​

​

​

Weighted

​

​

​

​

Remaining

​

Average

​

​

​

Average

​

​

Number

​

Contractual

​

Exercise

​

Number

​

Exercise

Range of Exercise Prices

  ​ ​ ​ ​

Outstanding

  ​ ​ ​ ​

Term

  ​ ​ ​ ​

Price

  ​ ​ ​ ​

Exercisable

  ​ ​ ​ ​

Price

​

​

​

​

​

​

​

​

​

​

​

​

​

$41.300 to 41.740

 

118,345

 

3.86 years

​

$

41.635

 

118,345

​

$

41.635

$50.720 to 59.160

 

707,134

 

6.88 years

​

 

55.627

 

300,185

​

 

55.250

$60.150 to 65.670

 

480,783

 

7.11 years

​

 

61.361

 

184,351

​

 

60.778

​

​

​

​

​

​

​

​

​

​

​

​

​

​

 

1,306,262

 

6.69 years

​

$

56.470

 

602,881

​

$

54.268

​
v3.25.4
Accumulated Other Comprehensive Income (Tables)
 12 Months Ended
Dec. 31, 2025
Accumulated Other Comprehensive Income  
Schedule of amounts in accumulated other comprehensive income (loss) to be recognized over next fiscal year

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

​

​

​

​

​

​

​

Net unrealized loss on available-for-sale securities

​

$

(36,599)

​

$

(61,191)

​

​

​

​

​

​

​

Net unrealized loss on held-to-maturity securities

​

​

(517)

​

​

(262)

​

​

​

​

​

​

​

Net unrealized loss on active derivatives used for cash flow hedges

​

​

(5,590)

​

​

(17,014)

​

​

​

​

​

​

​

Net unrealized gain on terminated derivatives used for cash flow hedges

​

 

—

​

 

6,209

​

​

 

(42,706)

​

 

(72,258)

​

​

​

​

​

​

​

Tax effect

​

 

10,506

​

 

17,896

​

​

​

​

​

​

​

Net-of-tax amount

​

$

(32,200)

​

$

(54,362)
Schedule of amounts reclassified from accumulated other comprehensive income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

Amounts Reclassified

  ​ ​ ​

​

​

​

from AOCI

​

Affected Line Item in the

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

  ​ ​ ​

Statements of Income

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Change in fair value of cash flow hedge

​

​

6,209

​

​

8,145

​

​

8,122

​

Amortization of realized gain on
  termination of cash flow hedge (total
   reclassification amount before tax)

​

​

​

​

​

​

​

​

​

​

​

​

Income taxes

​

 

(1,408)

​

 

(1,859)

​

 

(1,855)

 

Provision for income taxes

​

​

​

​

​

​

​

​

​

​

​

​

Total reclassifications out of AOCI

​

$

4,801

​

$

6,286

​

$

6,267

 

  ​

​
v3.25.4
Regulatory Matters (Tables)
 12 Months Ended
Dec. 31, 2025
Regulatory Matters  
Schedule of company's and the bank's actual capital amounts and ratios

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

​

  ​ ​ ​

  ​ ​ ​

  ​ ​ ​

To Be Well

 

​

​

​

​

​

​

​

​

​

​

​

​

Capitalized Under

 

​

​

​

​

​

​

​

For Capital

​

Prompt Corrective

 

​

​

Actual

​

Adequacy Purposes

​

Action Provisions

 

​

  ​ ​ ​

Amount

  ​ ​ ​

Ratio

  ​ ​ ​

Amount

  ​ ​ ​

Ratio

  ​ ​ ​

Amount

  ​ ​ ​

Ratio

 

​

​

(Dollars In Thousands)

 

As of December 31, 2025

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Total capital

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Great Southern Bancorp, Inc.

​

$

744,073

 

15.3

%  

$

388,101

 

8.0

%  

​

N/A

 

N/A

​

Great Southern Bank

​

$

693,155

 

14.3

%  

$

388,030

 

8.0

%  

$

485,038

 

10.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

683,276

 

14.1

%  

$

291,075

 

6.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

632,369

 

13.0

%  

$

291,023

 

6.0

%  

$

388,030

 

8.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I leverage capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

683,276

 

12.2

%  

$

224,310

 

4.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

632,369

 

11.3

%  

$

224,275

 

4.0

%  

$

280,344

 

5.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common equity Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

658,276

 

13.6

%  

$

218,307

 

4.5

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

632,369

 

13.0

%  

$

218,267

 

4.5

%  

$

315,275

 

6.5

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

As of December 31, 2024

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Total capital

 

​

  ​

 

  ​

 

​

  ​

 

  ​

 

​

  ​

 

  ​

​

Great Southern Bancorp, Inc.

​

$

809,221

 

15.4

%  

$

419,108

 

8.0

%  

​

N/A

 

N/A

​

Great Southern Bank

​

$

725,974

 

13.9

%  

$

418,985

 

8.0

%  

$

523,732

 

10.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

668,639

 

12.8

%  

$

314,331

 

6.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

660,411

 

12.6

%  

$

314,239

 

6.0

%  

$

418,985

 

8.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Tier I leverage capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

668,639

 

11.2

%  

$

239,536

 

4.0

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

660,411

 

11.0

%  

$

239,487

 

4.0

%  

$

299,359

 

5.0

%

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Common equity Tier I capital

​

 

​

 

​

​

 

​

 

​

​

 

​

 

​

​

Great Southern Bancorp, Inc.

​

$

643,639

 

12.3

%  

$

235,748

 

4.5

%  

 

N/A

 

N/A

​

Great Southern Bank

​

$

660,411

 

12.6

%  

$

235,679

 

4.5

%  

$

340,426

 

6.5

%

​
v3.25.4
Summary of Unaudited Quarterly Operating Results (Tables)
 12 Months Ended
Dec. 31, 2025
Summary of Unaudited Quarterly Operating Results  
Summary of unaudited quarterly operating results

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

2025

  ​ ​ ​

  ​ ​ ​

​

​

​

Three Months Ended

​

  ​ ​ ​

March 31

  ​ ​ ​

June 30

  ​ ​ ​

September 30

  ​ ​ ​

December 31

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

80,243

​

$

80,975

​

$

79,079

​

$

73,435

Interest expense

​

 

30,909

​

 

30,012

​

 

28,306

​

 

24,272

Provision for credit losses on loans

​

 

—

​

 

—

​

 

—

​

 

—

Provision (credit) for unfunded commitments

​

​

(348)

​

​

(110)

​

​

(379)

​

​

882

Net realized gain (loss) on available-for-sale securities

​

 

—

​

 

—

​

 

—

​

 

—

Non-interest income

​

 

6,590

​

 

8,212

​

 

7,062

​

 

7,188

Non-interest expense

​

 

34,822

​

 

35,005

​

 

36,116

​

 

36,000

Provision for income taxes

​

 

4,290

​

 

4,494

​

 

4,346

​

 

3,194

Net income available to common shareholders

​

 

17,160

​

 

19,786

​

 

17,752

​

 

16,275

Earnings per common share – diluted

​

 

1.47

​

 

1.72

​

 

1.56

​

 

1.45

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

2024

  ​ ​ ​

  ​ ​ ​

​

​

​

Three Months Ended

​

  ​ ​ ​

March 31

  ​ ​ ​

June 30

  ​ ​ ​

September 30

  ​ ​ ​

December 31

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

77,390

​

$

80,927

​

$

83,796

​

$

82,585

Interest expense

​

 

32,574

​

 

34,109

​

 

35,821

​

 

33,051

Provision for credit losses on loans

​

 

500

​

 

—

​

 

1,200

​

 

—

Provision (credit) for unfunded commitments

​

 

130

​

 

(607)

​

 

(63)

​

 

1,556

Net realized gain (loss) on available-for-sale securities

​

​

—

​

​

—

​

​

—

​

​

—

Non-interest income

​

 

6,806

​

 

9,833

​

 

6,992

​

 

6,934

Non-interest expense

​

 

34,422

​

 

36,409

​

 

33,717

​

 

36,947

Provision for income taxes

​

 

3,163

​

 

3,861

​

 

3,623

​

 

3,043

Net income available to common shareholders

​

 

13,407

​

 

16,988

​

 

16,490

​

 

14,922

Earnings per common share – diluted

​

 

1.13

​

 

1.45

​

 

1.41

​

 

1.27

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

​

​

  ​ ​ ​

2023

  ​ ​ ​

  ​ ​ ​

​

​

​

Three Months Ended

​

  ​ ​ ​

March 31

  ​ ​ ​

June 30

  ​ ​ ​

September 30

  ​ ​ ​

December 31

​

​

(In Thousands, Except Per Share Data)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

71,463

​

$

73,618

​

$

75,272

​

$

76,482

Interest expense

​

 

18,271

​

 

25,480

​

 

28,534

​

 

31,335

Provision for credit losses on loans

​

 

1,500

​

 

—

​

 

—

​

 

750

Provision (credit) for unfunded commitments

​

​

(826)

​

​

(1,619)

​

​

(1,195)

​

​

(1,689)

Net realized gain (loss) on available-for-sale securities

​

 

—

​

 

—

​

 

—

​

 

—

Non-interest income

​

 

7,889

​

 

7,769

​

 

7,852

​

 

6,563

Non-interest expense

​

 

34,463

​

 

34,718

​

 

35,557

​

 

36,285

Provision for income taxes

​

 

5,488

​

 

4,488

​

 

4,349

​

 

3,219

Net income available to common shareholders

​

 

20,456

​

 

18,320

​

 

15,879

​

 

13,145

Earnings per common share – diluted

​

 

1.67

​

 

1.52

​

 

1.33

​

 

1.11

​
v3.25.4
Condensed Parent Company Statements (Tables)
 12 Months Ended
Dec. 31, 2025
Condensed Parent Company Statements  
Schedule of condensed statements of financial condition

​

​

​

​

​

​

​

​

​

  ​ ​ ​

December 31, 

​

  ​ ​ ​

2025

  ​ ​ ​

2024

​

​

(In Thousands)

Statements of Financial Condition

​

​

​

​

​

​

​

​

​

​

​

​

​

Assets

​

​

​

​

​

​

Cash

​

$

56,332

​

$

87,621

Investment in subsidiary bank

​

 

610,219

​

 

616,340

Deferred and accrued income taxes

​

 

35

​

 

618

Prepaid expenses and other assets

​

 

833

​

 

898

​

​

​

​

​

​

​

​

​

$

667,419

​

$

705,477

​

​

​

​

​

​

​

Liabilities and Stockholders’ Equity

​

 

​

​

 

​

Accounts payable and accrued expenses

​

$

5,519

​

$

5,259

Subordinated debentures issued to capital trust

​

 

25,774

​

 

25,774

Subordinated notes

​

 

—

​

 

74,876

Common stock

​

 

111

​

 

117

Additional paid-in capital

​

 

54,120

​

 

50,336

Retained earnings

​

 

614,095

​

 

603,477

Accumulated other comprehensive income (loss)

​

 

(32,200)

​

 

(54,362)

​

​

​

​

​

​

​

​

​

$

667,419

​

$

705,477
Schedule of condensed statements of income

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Statements of Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Income

 

​

  ​

 

​

  ​

 

​

  ​

Dividends from subsidiary bank

​

$

105,000

​

$

70,000

​

$

65,000

Other income

​

 

—

​

 

—

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

 

105,000

​

 

70,000

​

 

65,000

​

​

​

​

​

​

​

​

​

​

Expense

​

 

​

​

 

​

​

 

​

Operating expenses

​

 

3,514

​

 

3,280

​

 

2,780

Interest expense

​

 

3,561

​

 

6,221

​

 

6,158

​

​

​

​

​

​

​

​

​

​

​

​

 

7,075

​

 

9,501

​

 

8,938

​

​

​

​

​

​

​

​

​

​

Income before income tax and equity in undistributed earnings of subsidiaries

​

 

97,925

​

 

60,499

​

 

56,062

Credit for income taxes

​

 

(1,331)

​

 

(1,960)

​

 

(1,932)

​

​

​

​

​

​

​

​

​

​

Income before equity in earnings of subsidiaries

​

 

99,256

​

 

62,459

​

 

57,994

​

​

​

​

​

​

​

​

​

​

Equity in undistributed earnings of subsidiaries

​

 

(28,283)

​

 

(652)

​

 

9,806

​

​

​

​

​

​

​

​

​

​

Net income

​

$

70,973

​

$

61,807

​

$

67,800
Schedule of condensed statements of cashflows

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Statements of Cash Flows

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Operating Activities

​

​

​

​

​

​

​

​

​

Net income

​

$

70,973

​

$

61,807

​

$

67,800

Items not requiring (providing) cash

​

 

​

​

 

​

​

 

​

Equity in undistributed earnings of subsidiary

​

 

28,283

​

 

652

​

 

(9,806)

Compensation expense for stock option grants

​

 

1,857

​

 

1,770

​

 

1,621

Amortization of interest rate derivative and deferred costs on subordinated notes

​

 

124

​

 

297

​

 

298

Changes in

​

 

​

​

 

​

​

 

​

Prepaid expenses and other assets

​

 

65

​

 

(21)

​

 

5

Accounts payable and accrued expenses

​

 

191

​

 

(191)

​

 

250

Income taxes

​

 

583

​

 

23

​

 

(493)

Net cash provided by operating activities

​

 

102,076

​

 

64,337

​

 

59,675

​

​

​

​

​

​

​

​

​

​

Investing Activities

​

 

​

​

 

​

​

 

  ​

Net cash provided by investing activities

​

 

—

​

 

—

​

 

—

​

​

​

​

​

​

​

​

​

​

Financing Activities

​

 

  ​

​

 

  ​

​

 

  ​

Purchases of the Company’s common stock

​

 

(44,461)

​

 

(15,152)

​

 

(23,326)

Dividends paid

​

 

(18,724)

​

 

(18,708)

​

 

(19,282)

Stock options exercised

​

 

4,820

​

​

10,096

​

​

884

Redemption of subordinated notes

​

 

(75,000)

​

 

—

​

 

—

Net cash used in financing activities

​

 

(133,365)

​

 

(23,764)

​

 

(41,724)

​

​

​

​

​

​

​

​

​

​

Increase (Decrease) in Cash

​

 

(31,289)

​

 

40,573

​

 

17,951

​

​

​

​

​

​

​

​

​

​

Cash, Beginning of Year

​

 

87,621

​

 

47,048

​

 

29,097

​

​

​

​

​

​

​

​

​

​

Cash, End of Year

​

$

56,332

​

$

87,621

​

$

47,048

​

​

​

​

​

​

​

​

​

​

Additional Cash Payment Information

​

 

​

​

 

​

​

 

​

Interest paid

​

$

3,772

​

$

6,247

​

$

6,107
Schedule of condensed statements of comprehensive income

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

Statements of Comprehensive Income

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Net Income

​

$

70,973

​

$

61,807

​

$

67,800

​

​

​

​

​

​

​

​

​

​

Comprehensive income (loss) of subsidiaries

​

 

22,162

​

 

(11,881)

​

 

10,874

​

​

​

​

​

​

​

​

​

​

Comprehensive Income

​

$

93,135

​

$

49,926

​

$

78,674

​
v3.25.4
Operating Segments (Tables)
 12 Months Ended
Dec. 31, 2025
Operating Segments  
Schedule of financial results by operating segment

​

​

​

​

​

​

​

​

​

​

​

​

  ​ ​ ​

2025

  ​ ​ ​

2024

  ​ ​ ​

2023

​

​

​

​

​

(In Thousands)

​

​

​

​

​

​

​

​

​

​

​

​

​

Interest income

​

$

313,732

​

$

324,698

​

$

296,835

Interest expense

​

 

113,499

​

 

135,555

​

 

103,620

Net interest income

​

 

200,233

​

 

189,143

​

 

193,215

​

​

​

​

​

​

​

​

​

​

Credit loss expense

​

 

45

​

 

2,716

​

 

(3,079)

Net interest income after credit loss expense

​

 

200,188

​

 

186,427

​

 

196,294

​

​

​

​

​

​

​

​

​

​

Non-interest Income

​

 

​

​

 

  ​

​

 

  ​

Commissions

​

 

1,626

​

 

1,227

​

 

1,153

Overdraft and insufficient funds fees

​

 

5,182

​

 

5,140

​

 

7,617

Point-of-sale and ATM fee income and service charges

​

 

13,202

​

 

13,586

​

 

14,346

Net gain on loan sales

​

 

3,272

​

 

3,779

​

 

2,354

Late charges and fees on loans

​

 

1,193

​

 

512

​

 

786

Fees from debit card contracts

​

 

1,615

​

 

1,804

​

 

2,579

Other income

​

 

2,962

​

 

4,517

​

 

1,238

​

​

 

29,052

​

 

30,565

​

 

30,073

​

​

​

​

​

​

​

​

​

​

Non-interest Expense

​

 

  ​

​

 

  ​

​

 

  ​

Salaries and incentives

​

 

64,911

​

 

63,954

​

 

63,641

Employee benefits

​

 

15,052

​

 

14,645

​

 

14,880

Net occupancy expense

​

 

13,267

​

 

12,430

​

 

12,357

Technology, furniture and equipment expense

​

 

22,030

​

 

19,688

​

 

18,477

Postage

​

 

3,565

​

 

3,329

​

 

3,590

Insurance

​

 

4,448

​

 

4,622

​

 

4,542

Advertising

​

 

2,929

​

 

3,124

​

 

3,396

Office supplies and printing

​

 

953

​

 

1,008

​

 

1,057

Telephone

​

 

2,797

​

 

2,772

​

 

2,730

Legal, audit and other professional fees

​

 

4,166

​

 

5,399

​

 

7,086

Expense (income) on other real estate and repossessions

​

 

(518)

​

 

(304)

​

 

311

Intangible asset amortization

​

 

434

​

 

433

​

 

286

Travel, meals and entertainment

​

 

2,141

​

 

2,066

​

 

2,076

Other operating expenses

​

 

5,768

​

 

8,329

​

 

6,594

​

​

 

141,943

​

 

141,495

​

 

141,023

​

​

​

​

​

​

​

​

​

​

Income Before Income Taxes

​

 

87,297

​

 

75,497

​

 

85,344

Provision for Income Taxes

​

 

16,324

​

 

13,690

​

 

17,544

Net Income

​

$

70,973

​

$

61,807

​

$

67,800
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Allowance for Credit Losses (Details)
Dec. 31, 2025
USD ($)
Nature of Operations and Summary of Significant Accounting Policies  
Allowances for credit losses $ 100,000
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Long-Lived Asset Impairment (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies      
Asset impairment charges $ 0 $ 0 $ 0
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Goodwill and Intangible Assets (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Nature of Operations and Summary of Significant Accounting Policies    
Goodwill - Branch acquisitions $ 5,396 $ 5,396
Intangible Assets, Net (Including Goodwill), Total $ 9,660 10,094
Arena Naming Rights    
Nature of Operations and Summary of Significant Accounting Policies    
Intangible assets, amortization period 15 years  
Arena Naming Rights (April 2022) $ 4,264 $ 4,698
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Earnings Per Common Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies      
Net income and net income available to common shareholders $ 70,973 $ 61,807 $ 67,800
Average common shares outstanding (in shares) 11,397 11,695 11,992
Average common share stock options outstanding 60 60 88
Average diluted common shares (in shares) 11,457 11,755 12,080
Earnings per common share - basic (in dollars per share) $ 6.23 $ 5.28 $ 5.65
Earnings per common share - diluted (in dollars per share) $ 6.19 $ 5.26 $ 5.61
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Options to Purchase Shares of Common Stock (Details) - shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies      
Options to purchase shares of common stock outstanding not included in computation of diluted earnings per share because exercise price greater than average market price 783,955 861,661 749,833
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Stock Compensation Plans (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Nature of Operations and Summary of Significant Accounting Policies      
Share based compensation expense $ 1.9 $ 1.8 $ 1.6
v3.25.4
Nature of Operations and Summary of Significant Accounting Policies - Recent Accounting Pronouncements (Details)
Jan. 01, 2024
USD ($)
Accounting Standards Update 2023-02 | Adjustment  
Nature of Operations and Summary of Significant Accounting Policies [Line Items]  
Reduction of retained earnings $ 223,000
v3.25.4
Investment Securities - Available for sale securities (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
AVAILABLE-FOR-SALE SECURITIES:    
Amortized Cost $ 560,430 $ 594,564
Gross Unrealized Gains 1,841 138
Gross Unrealized Losses 38,440 61,329
Fair Value 523,831 533,373
Agency mortgage-backed securities    
AVAILABLE-FOR-SALE SECURITIES:    
Amortized Cost 325,618 346,712
Gross Unrealized Gains 805 69
Gross Unrealized Losses 25,174 40,874
Fair Value 301,249 305,907
Agency collateralized mortgage obligations    
AVAILABLE-FOR-SALE SECURITIES:    
Amortized Cost 120,465 123,395
Gross Unrealized Gains 933  
Gross Unrealized Losses 6,065 9,771
Fair Value 115,333 113,624
States and political subdivisions securities    
AVAILABLE-FOR-SALE SECURITIES:    
Amortized Cost 53,347 58,608
Gross Unrealized Gains 89 69
Gross Unrealized Losses 2,038 2,729
Fair Value 51,398 55,948
Small Business Administration securities    
AVAILABLE-FOR-SALE SECURITIES:    
Amortized Cost 61,000 65,849
Gross Unrealized Gains 14  
Gross Unrealized Losses 5,163 7,955
Fair Value $ 55,851 $ 57,894
v3.25.4
Investment Securities - Held to maturity securities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
HELD-TO-MATURITY SECURITIES:    
Amortized Cost $ 179,717 $ 187,695
Fair Value Adjustment (517) (262)
Amortized Carrying Value 179,200 187,433
Gross Unrealized Losses 16,571 24,668
Fair Value 162,629 162,765
Agency mortgage-backed securities    
HELD-TO-MATURITY SECURITIES:    
Amortized Cost 69,713 71,065
Fair Value Adjustment 1,313 1,864
Amortized Carrying Value 71,026 72,929
Gross Unrealized Losses 5,694 8,523
Fair Value 65,332 64,406
Agency collateralized mortgage obligations    
HELD-TO-MATURITY SECURITIES:    
Amortized Cost 103,918 110,493
Fair Value Adjustment (1,857) (2,140)
Amortized Carrying Value 102,061 108,353
Gross Unrealized Losses 10,424 15,495
Fair Value 91,637 92,858
States and political subdivisions securities    
HELD-TO-MATURITY SECURITIES:    
Amortized Cost 6,086 6,137
Fair Value Adjustment 27 14
Amortized Carrying Value 6,113 6,151
Gross Unrealized Losses 453 650
Fair Value $ 5,660 $ 5,501
v3.25.4
Investment Securities - Investments classified by contractual maturity date (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Available-for-Sale - Amortized Cost    
After two through three years $ 1,020  
After five through fifteen years 23,285  
After fifteen years 29,042  
Securities not due on a single maturity date 507,083  
Available-for-sale securities, Amortized Cost, Total 560,430 $ 594,564
Available-for-Sale - Fair Value    
After two through three years 1,030  
After five through fifteen years 22,656  
After fifteen years 27,712  
Securities not due on a single maturity date 472,433  
Available-for-Sale, Fair Value, Total 523,831 533,373
Held-to-Maturity - Amortized Carrying Value    
After five through fifteen years 5,608  
After fifteen years 505  
Securities not due on a single maturity date 173,087  
Held-to-Maturity, Amortized Carrying Value, Total 179,200 187,433
Held-to-Maturity - Fair Value    
After five through fifteen years 5,223  
After fifteen years 437  
Securities not due on a single maturity date 156,969  
Held-to-maturity, Fair Value, Total $ 162,629 $ 162,765
v3.25.4
Investments Securities - Schedule of Financial Instruments Owned and Pledged as Collateral (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Public deposits    
Investment Securities    
Securities owned and pledged as collateral amortized cost $ 12,826 $ 13,880
Public deposits | Estimate of Fair Value Measurement    
Investment Securities    
Fair Value 11,368 11,801
Collateralized borrowing accounts    
Investment Securities    
Securities owned and pledged as collateral amortized cost 64,712 86,561
Collateralized borrowing accounts | Estimate of Fair Value Measurement    
Investment Securities    
Fair Value 59,082 76,871
FHLBank borrowing account    
Investment Securities    
Securities owned and pledged as collateral amortized cost 270,691 91,900
FHLBank borrowing account | Estimate of Fair Value Measurement    
Investment Securities    
Fair Value 255,031 90,544
Federal Reserve Bank's Bank Term Funding Program    
Investment Securities    
Securities owned and pledged as collateral amortized cost   186,836
Federal Reserve Bank's Bank Term Funding Program | Estimate of Fair Value Measurement    
Investment Securities    
Fair Value   161,620
Other    
Investment Securities    
Securities owned and pledged as collateral amortized cost   3,572
Other | Estimate of Fair Value Measurement    
Investment Securities    
Fair Value   3,270
Securities Pledged as Collateral    
Investment Securities    
Securities owned and pledged as collateral amortized cost 348,229 382,749
Securities Pledged as Collateral | Estimate of Fair Value Measurement    
Investment Securities    
Fair Value $ 325,481 $ 344,106
v3.25.4
Investment Securities - Fair value and unrealized losses on investments (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
AVAILABLE-FOR-SALE SECURITIES:    
Available-for-sale securities, Less than 12 Months, Fair Value $ 4,409 $ 118,449
Available-for-sale Securities, Less than 12 Months, Unrealized Loss (109) (2,511)
Available-for-sale securities, 12 Months or More, Fair Value 404,612 405,484
Available-for-sale Securities,12 Months or Longer, Unrealized Loss (38,331) (58,818)
Available-for-sale securities, Fair Value 409,021 523,933
Available-for-sale securities, Unrealized Loss (38,440) (61,329)
HELD-TO-MATURITY SECURITIES:    
Held-to-maturity securities, 12 Months or Longer, Fair Value 162,629 162,765
Held-to-maturity securities, 12 Months or Longer, Unrealized Losses (16,571) (24,668)
Held-to-maturity securities, Fair Value 162,629 162,765
Held-to-maturity securities, Unrealized Losses (16,571) (24,668)
Agency mortgage-backed securities.    
AVAILABLE-FOR-SALE SECURITIES:    
Available-for-sale securities, Less than 12 Months, Fair Value   45,977
Available-for-sale Securities, Less than 12 Months, Unrealized Loss   (1,008)
Available-for-sale securities, 12 Months or More, Fair Value 241,503 253,971
Available-for-sale Securities,12 Months or Longer, Unrealized Loss (25,174) (39,866)
Available-for-sale securities, Fair Value 241,503 299,948
Available-for-sale securities, Unrealized Loss (25,174) (40,874)
HELD-TO-MATURITY SECURITIES:    
Held-to-maturity securities, 12 Months or Longer, Fair Value 65,332 64,406
Held-to-maturity securities, 12 Months or Longer, Unrealized Losses (5,694) (8,523)
Held-to-maturity securities, Fair Value 65,332 64,406
Held-to-maturity securities, Unrealized Losses (5,694) (8,523)
Agency collateralized mortgage obligations    
AVAILABLE-FOR-SALE SECURITIES:    
Available-for-sale securities, Less than 12 Months, Fair Value   50,720
Available-for-sale Securities, Less than 12 Months, Unrealized Loss   (890)
Available-for-sale securities, 12 Months or More, Fair Value 70,774 62,903
Available-for-sale Securities,12 Months or Longer, Unrealized Loss (6,065) (8,881)
Available-for-sale securities, Fair Value 70,774 113,623
Available-for-sale securities, Unrealized Loss (6,065) (9,771)
HELD-TO-MATURITY SECURITIES:    
Held-to-maturity securities, 12 Months or Longer, Fair Value 91,637 92,858
Held-to-maturity securities, 12 Months or Longer, Unrealized Losses (10,424) (15,495)
Held-to-maturity securities, Fair Value 91,637 92,858
Held-to-maturity securities, Unrealized Losses (10,424) (15,495)
Small Business Administration securities    
AVAILABLE-FOR-SALE SECURITIES:    
Available-for-sale securities, Less than 12 Months, Fair Value   7,229
Available-for-sale Securities, Less than 12 Months, Unrealized Loss   (270)
Available-for-sale securities, 12 Months or More, Fair Value 48,807 50,665
Available-for-sale Securities,12 Months or Longer, Unrealized Loss (5,163) (7,685)
Available-for-sale securities, Fair Value 48,807 57,894
Available-for-sale securities, Unrealized Loss (5,163) (7,955)
States and political subdivisions securities    
AVAILABLE-FOR-SALE SECURITIES:    
Available-for-sale securities, Less than 12 Months, Fair Value 4,409 14,523
Available-for-sale Securities, Less than 12 Months, Unrealized Loss (109) (343)
Available-for-sale securities, 12 Months or More, Fair Value 43,528 37,945
Available-for-sale Securities,12 Months or Longer, Unrealized Loss (1,929) (2,386)
Available-for-sale securities, Fair Value 47,937 52,468
Available-for-sale securities, Unrealized Loss (2,038) (2,729)
HELD-TO-MATURITY SECURITIES:    
Held-to-maturity securities, 12 Months or Longer, Fair Value 5,660 5,501
Held-to-maturity securities, 12 Months or Longer, Unrealized Losses (453) (650)
Held-to-maturity securities, Fair Value 5,660 5,501
Held-to-maturity securities, Unrealized Losses $ (453) $ (650)
v3.25.4
Investment Securities - Additional Information (Details) - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2025
Dec. 31, 2024
Investment Securities      
Securities transferred from available for sale portfolio to held to maturity portfolio $ 226,500,000 $ 0  
Net of income tax 775,000    
Net unrealized gains on transfers $ 1,000,000    
unrealized gross loss   517,000  
Unrealized losses   390,000  
Fair value of debt securities reported less than their historical cost   $ 409,000,000 $ 523,900,000
Available sale of debt securities reported less than their historical cost percent of investment portfolio   78.10% 98.20%
Amortized Carrying Value   $ 179,200,000 $ 187,433,000
Total fair value of held-to-maturity   $ 162,629,000 162,765,000
Held to Maturity investment portfolio reported less than their historical cost as a percent of investment portfolio   100.00%  
Allowance for credit losses on securities   $ 0  
Available-for-sale securities   523,831,000 533,373,000
Federal National Mortgage Association Certificates and Obligations (FNMA)      
Investment Securities      
Agency collateralized mortgage obligations   48,900,000 46,000,000
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC)      
Investment Securities      
Agency collateralized mortgage obligations   62,300,000 63,000,000
Government National Mortgage Association Certificates and Obligations (GNMA)      
Investment Securities      
Agency collateralized mortgage obligations   4,100,000 4,600,000
Collateralized mortgage obligations      
Investment Securities      
Amortized Carrying Value   102,061,000 108,353,000
Total fair value of held-to-maturity   91,637,000 92,858,000
Available-for-sale securities   115,333,000 113,624,000
Fixed rates of interest      
Investment Securities      
Mortgage backed securities   301,200,000 305,900,000
Federal National Mortgage Association Certificates and Obligations (FNMA)      
Investment Securities      
Agency mortgage-backed securities   197,400,000 205,600,000
Federal Home Loan Mortgage Corporation Certificates and Obligations (FHLMC)      
Investment Securities      
Agency mortgage-backed securities   101,300,000 98,500,000
Government National Mortgage Association Certificates and Obligations (GNMA)      
Investment Securities      
Agency mortgage-backed securities   $ 2,500,000 $ 1,800,000
v3.25.4
Loans and Allowance for Credit Losses - Classes of loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Loans and Allowance for Credit Losses        
Loans receivable $ 4,427,678 $ 4,761,848    
Allowance for credit losses (64,771) (64,760) $ (64,670) $ (63,480)
Deferred loan fees and gains, net (6,054) (6,695)    
Loans receivable, net $ 4,356,853 $ 4,690,393    
Weighted average interest rate 5.76% 6.08%    
One- to four-family residential construction        
Loans and Allowance for Credit Losses        
Loans receivable $ 30,258 $ 30,533    
Subdivision construction        
Loans and Allowance for Credit Losses        
Loans receivable 32,160 19,861    
Land development        
Loans and Allowance for Credit Losses        
Loans receivable 37,519 42,504    
Commercial construction        
Loans and Allowance for Credit Losses        
Loans receivable 249,224 352,793    
Owner occupied one- to four-family residential        
Loans and Allowance for Credit Losses        
Loans receivable 656,699 710,446    
Non-owner occupied one- to four-family residential        
Loans and Allowance for Credit Losses        
Loans receivable 125,298 122,901    
Commercial real estate        
Loans and Allowance for Credit Losses        
Loans receivable 1,556,148 1,543,742    
Other residential (multi-family)        
Loans and Allowance for Credit Losses        
Loans receivable 1,387,410 1,549,249    
Commercial business        
Loans and Allowance for Credit Losses        
Loans receivable 178,514 220,291    
Consumer auto        
Loans and Allowance for Credit Losses        
Loans receivable 24,169 25,787    
Consumer other        
Loans and Allowance for Credit Losses        
Loans receivable 22,249 27,905    
Home equity lines of credit        
Loans and Allowance for Credit Losses        
Loans receivable $ 128,030 $ 115,836    
v3.25.4
Loans and Allowance for Credit Losses - Classes of loans by aging (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable $ 4,427,678 $ 4,761,848
One- to four-family residential construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 30,258 30,533
Subdivision construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 32,160 19,861
Land development    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 37,519 42,504
Commercial construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 249,224 352,793
Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 656,699 710,446
Non-owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 125,298 122,901
Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,556,148 1,543,742
Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,387,410 1,549,249
Commercial business    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 178,514 220,291
Consumer auto    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 24,169 25,787
Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 22,249 27,905
Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 128,030 115,836
30-59 Days Past Due    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 25,891 2,605
30-59 Days Past Due | One- to four-family residential construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   12
30-59 Days Past Due | Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 830 1,704
30-59 Days Past Due | Non-owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   642
30-59 Days Past Due | Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 70  
30-59 Days Past Due | Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 24,762  
30-59 Days Past Due | Consumer auto    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 27 39
30-59 Days Past Due | Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 128 145
30-59 Days Past Due | Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 74 63
60-89 Days Past Due    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 563 877
60-89 Days Past Due | Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 521 816
60-89 Days Past Due | Consumer auto    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 12 1
60-89 Days Past Due | Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 30 4
60-89 Days Past Due | Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   56
Over 90 Days Past Due    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 2,094 3,573
Over 90 Days Past Due | Land development    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   464
Over 90 Days Past Due | Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 631 950
Over 90 Days Past Due | Non-owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,435 1,681
Over 90 Days Past Due | Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   77
Over 90 Days Past Due | Commercial business    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   384
Over 90 Days Past Due | Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 10 17
Over 90 Days Past Due | Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 18  
Total Past Due    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 28,548 7,055
Total Past Due | One- to four-family residential construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   12
Total Past Due | Land development    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   464
Total Past Due | Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,982 3,470
Total Past Due | Non-owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,435 2,323
Total Past Due | Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 70 77
Total Past Due | Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 24,762  
Total Past Due | Commercial business    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable   384
Total Past Due | Consumer auto    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 39 40
Total Past Due | Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 168 166
Total Past Due | Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 92 119
Current    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 4,399,130 4,754,793
Current | One- to four-family residential construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 30,258 30,521
Current | Subdivision construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 32,160 19,861
Current | Land development    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 37,519 42,040
Current | Commercial construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 249,224 352,793
Current | Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 654,717 706,976
Current | Non-owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 123,863 120,578
Current | Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,556,078 1,543,665
Current | Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 1,362,648 1,549,249
Current | Commercial business    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 178,514 219,907
Current | Consumer auto    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 24,130 25,747
Current | Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable 22,081 27,739
Current | Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans Receivable $ 127,938 $ 115,717
v3.25.4
Loans and Allowance for Credit Losses - Non-accruing loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans $ 2,094 $ 3,573
Land development    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans   464
Owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans 631 950
Non-owner occupied one- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans 1,435 1,681
Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans   77
Commercial business    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans   384
Consumer other    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans 10 $ 17
Home equity lines of credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total nonaccruing loans $ 18  
v3.25.4
Loans and Allowance for Credit Losses - Allowance for credit losses (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period $ 64,760 $ 64,670 $ 63,480
Provision (credit) charged to expense 0 1,700 2,250
Provision (credit) for unfunded commitments 45 1,016 (5,329)
Losses charged off (1,306) (3,200) (2,822)
Recoveries 1,317 1,590 1,762
Balance at end of period 64,771 64,760 64,670
Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 8,503 7,487 12,816
Provision (credit) for unfunded commitments 45 1,016 (5,329)
Balance at end of period 8,548 8,503 7,487
One- To Four-Family Residential and Construction      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 9,224 9,820 11,171
Provision (credit) charged to expense (1,728) (570) (1,390)
Losses charged off (46) (64) (31)
Recoveries 33 38 70
Balance at end of period 7,483 9,224 9,820
One- To Four-Family Residential and Construction | Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 619 706 736
Provision (credit) for unfunded commitments 348 (87) (30)
Balance at end of period 967 619 706
Other Residential      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 15,594 13,370 12,110
Provision (credit) charged to expense 2,882 2,224 1,260
Balance at end of period 18,476 15,594 13,370
Other Residential | Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 4,833 4,006 8,624
Provision (credit) for unfunded commitments (253) 827 (4,618)
Balance at end of period 4,580 4,833 4,006
Commercial Real Estate      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 28,802 28,171 27,096
Provision (credit) charged to expense 429 1,931 930
Losses charged off (8) (1,300)  
Recoveries     145
Balance at end of period 29,223 28,802 28,171
Commercial Real Estate | Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 653 619 416
Provision (credit) for unfunded commitments 46 34 203
Balance at end of period 699 653 619
Commercial Construction      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 2,735 2,844 2,865
Provision (credit) charged to expense (660) (202) (27)
Losses charged off   (101)  
Recoveries 321 194 6
Balance at end of period 2,396 2,735 2,844
Commercial Construction | Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 496 741 802
Provision (credit) for unfunded commitments 141 (245) (61)
Balance at end of period 637 496 741
Commercial Business      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 4,656 6,935 5,822
Provision (credit) charged to expense (932) (2,526) 1,909
Losses charged off (179) (243) (1,037)
Recoveries 366 490 241
Balance at end of period 3,911 4,656 6,935
Commercial Business | Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 1,468 959 1,734
Provision (credit) for unfunded commitments (166) 509 (775)
Balance at end of period 1,302 1,468 959
Consumer      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 3,749 3,530 4,416
Provision (credit) charged to expense 9 843 (432)
Losses charged off (1,073) (1,492) (1,754)
Recoveries 597 868 1,300
Balance at end of period 3,282 3,749 3,530
Consumer | Allowance for unfunded commitment      
LOANS AND ALLOWANCE FOR CREDIT LOSSES      
Balance at beginning of period 434 456 504
Provision (credit) for unfunded commitments (71) (22) (48)
Balance at end of period $ 363 $ 434 $ 456
v3.25.4
Loans and Allowance for Credit Losses - Weighted Average Interest Rate on Loans Receivable (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Commercial loan participations sold to other financial institutions $ 196.3 $ 301.4
Residential mortgage loans sold 85.9 95.6
Unpaid principal balances    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans serviced for others 282.2 397.0
Unused lines of Credit    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loans serviced for others $ 22.3 $ 34.0
v3.25.4
Loans and Allowance for Credit Losses - Collateral dependent loans by class of loans (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Loans and Allowance for Credit Losses    
Principal Balance $ 2,642 $ 9,849
Specific Allowance   518
Land development    
Loans and Allowance for Credit Losses    
Principal Balance   464
Specific Allowance   12
Owner occupied one- to four-family residential    
Loans and Allowance for Credit Losses    
Principal Balance 1,207 1,677
Non-owner occupied one- to four-family residential    
Loans and Allowance for Credit Losses    
Principal Balance $ 1,435 1,681
Specific Allowance   261
Commercial real estate    
Loans and Allowance for Credit Losses    
Principal Balance   4,253
Commercial business    
Loans and Allowance for Credit Losses    
Principal Balance   384
Specific Allowance   245
Home equity lines of credit    
Loans and Allowance for Credit Losses    
Principal Balance   $ 1,390
v3.25.4
Loans and Allowance for Credit Losses - Impaired Loans Specific Valuation Allowance (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Loans and Allowance for Credit Losses      
Loans and leases receivable, impaired, interest lost on nonaccrual loans $ 288,000 $ 681,000 $ 509,000
v3.25.4
Loans and Allowance for Credit Losses - Classes of loan portfolios (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications $ 5 $ 2,810
Interest Rate Reduction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications 5  
Term Extension    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   2,810
Other Residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   2,709
Other Residential | Term Extension    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   2,709
Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   70
Commercial real estate | Term Extension    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   70
Consumer    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications 5 31
Consumer | Interest Rate Reduction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications $ 5  
Consumer | Term Extension    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   $ 31
v3.25.4
Loans and Allowance for Credit Losses - Performance of loans (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications $ 5 $ 2,810
Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   2,709
Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   70
Consumer    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications 5 31
Current    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications 5 2,810
Current | Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   2,709
Current | Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications   70
Current | Consumer    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications $ 5 $ 31
v3.25.4
Loans and Allowance for Credit Losses - Additional Information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Interest income $ 0 $ 0
Non-accrual loans for no related allowance amortized cost 2,000,000  
Loan modifications 5,000 $ 2,810,000
Maximum percentage of concessions granted of their respective classes of loan portfolios   2.00%
Minimum loan balance with addition to TDR status for classification of loans into Collateral-dependent loans 100,000  
Consumer    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan modifications 5,000 $ 31,000
Consumer | Principal forgiveness    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan paid during period $ 53,000  
Consumer and land development loans | Principal forgiveness    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Loan paid during period   $ 295,000
v3.25.4
Loans and Allowance for Credit Losses - Loans by category and risk rating separated by origination and loan class (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Total $ 4,427,678 $ 4,761,848
Commercial real estate    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 122,684 97,512
One Year Before 142,179 81,282
Two Years Before 93,260 320,442
Three Years Before 316,381 217,126
Four Years Before 194,448 96,246
Prior 652,260 695,197
Revolving Loans 34,936 35,937
Total 1,556,148 1,543,742
Current Period Gross Charge Offs    
Two year Before   54
Three year Before   10
Four Year Before 8  
Prior   1,236
Total 8 1,300
Commercial real estate | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 122,684 97,512
One Year Before 142,179 81,282
Two Years Before 93,260 320,442
Three Years Before 305,833 217,049
Four Years Before 194,448 96,246
Prior 640,276 682,549
Revolving Loans 34,936 35,937
Total 1,533,616 1,531,017
Commercial real estate | Watch    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Three Years Before 10,548  
Prior 2,964 7,879
Total 13,512 7,879
Commercial real estate | Special Mention    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Prior 9,020 438
Total 9,020 438
Commercial real estate | Classified    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Three Years Before   77
Prior   4,331
Total   4,408
Consumer    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 15,703 17,392
One Year Before 9,947 9,243
Two Years Before 4,666 6,163
Three Years Before 2,532 2,638
Four Years Before 1,026 1,155
Prior 7,740 10,725
Revolving Loans 132,834 122,212
Total 174,448 169,528
Current Period Gross Charge Offs    
Current Year 58 13
One Year Before 63 105
Two year Before 33 122
Three year Before 23 32
Four Year Before 2 4
Prior 888 1,161
Revolving Loans 6 54
Total 1,073 1,491
Consumer | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 15,703 17,391
One Year Before 9,937 9,234
Two Years Before 4,651 6,147
Three Years Before 2,530 2,618
Four Years Before 1,015 1,151
Prior 7,509 10,478
Revolving Loans 131,623 120,653
Total 172,968 167,672
Consumer | Watch    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Two Years Before   5
Four Years Before   4
Prior 188 194
Revolving Loans 70 107
Total 258 310
Consumer | Special Mention    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Revolving Loans 983  
Total 983  
Consumer | Classified    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year   1
One Year Before 10 9
Two Years Before 15 11
Three Years Before 2 20
Four Years Before 11  
Prior 43 53
Revolving Loans 158 1,452
Total 239 1,546
Combined    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 401,228 354,122
One Year Before 550,642 340,786
Two Years Before 288,490 1,406,976
Three Years Before 1,183,399 982,991
Four Years Before 676,542 379,160
Prior 1,092,883 1,059,999
Revolving Loans 234,494 237,814
Total 4,427,678 4,761,848
Current Period Gross Charge Offs    
Current Year 58 13
One Year Before 63 154
Two year Before 33 176
Three year Before 44 46
Four Year Before 26 31
Prior 1,032 2,678
Revolving Loans 50 102
Total 1,306 3,200
Combined | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 401,228 354,121
One Year Before 550,604 339,904
Two Years Before 288,404 1,404,573
Three Years Before 1,171,537 979,469
Four Years Before 649,028 378,509
Prior 1,075,501 1,042,480
Revolving Loans 232,669 234,745
Total 4,368,971 4,733,801
Combined | Watch    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Two Years Before   1,010
Three Years Before 11,353 3,296
Four Years Before 2,473 149
Prior 6,563 11,380
Revolving Loans 70 107
Total 20,459 15,942
Combined | Special Mention    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Two Years Before   995
Four Years Before 24,762 38
Prior 9,020 438
Revolving Loans 983  
Total 34,765 1,471
Combined | Classified    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year   1
One Year Before 38 882
Two Years Before 86 398
Three Years Before 509 226
Four Years Before 279 464
Prior 1,799 5,701
Revolving Loans 772 2,962
Total 3,483 10,634
One- to four-family residential construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 18,452 11,750
One Year Before 4,606 8,961
Two Years Before 2,611 822
Three Years Before 1,242  
Revolving Loans 3,347 9,000
Total 30,258 30,533
One- to four-family residential construction | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 18,452 11,750
One Year Before 4,606 8,961
Two Years Before 2,611 822
Three Years Before 1,242  
Revolving Loans 3,347 9,000
Total 30,258 30,533
Subdivision construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 924 711
One Year Before 2,745 182
Two Years Before 278 136
Three Years Before 260 17,609
Four Years Before 16,146 29
Prior 428 205
Revolving Loans 11,379 989
Total 32,160 19,861
Subdivision construction | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 924 711
One Year Before 2,745 182
Two Years Before 278 136
Three Years Before 260 17,609
Four Years Before 16,146 29
Prior 428 205
Revolving Loans 11,379 989
Total 32,160 19,861
Construction and land development    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 11,147 18,282
One Year Before 9,046 6,112
Two Years Before 6,573 2,722
Three Years Before 1,097 5,210
Four Years Before 368 3,569
Prior 6,413 4,236
Revolving Loans 2,875 2,373
Total 37,519 42,504
Current Period Gross Charge Offs    
Prior   101
Total   101
Construction and land development | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 11,147 18,282
One Year Before 9,046 6,112
Two Years Before 6,573 2,722
Three Years Before 1,097 5,210
Four Years Before 368 3,105
Prior 6,413 4,236
Revolving Loans 2,875 2,373
Total 37,519 42,040
Construction and land development | Classified    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Four Years Before   464
Total   464
Other construction    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 35,846 78,337
One Year Before 166,912 52,046
Two Years Before 7,448 189,389
Three Years Before 38,049 33,021
Four Years Before 969  
Total 249,224 352,793
Other construction | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 35,846 78,337
One Year Before 166,912 52,046
Two Years Before 7,448 189,389
Three Years Before 38,049 33,021
Four Years Before 969  
Total 249,224 352,793
One- to four-family residential    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 65,388 42,931
One Year Before 39,434 60,601
Two Years Before 50,038 304,441
Three Years Before 268,499 176,888
Four Years Before 153,815 91,383
Prior 202,869 155,167
Revolving Loans 1,954 1,936
Total 781,997 833,347
Current Period Gross Charge Offs    
One Year Before   49
Three year Before 21  
Four Year Before 16  
Prior 9 16
Total 46 65
One- to four-family residential | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 65,388 42,931
One Year Before 39,406 59,973
Two Years Before 49,967 304,054
Three Years Before 267,992 176,759
Four Years Before 153,547 91,238
Prior 200,389 153,392
Revolving Loans 1,340 426
Total 778,029 828,773
One- to four-family residential | Watch    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Four Years Before   145
Prior 724 597
Total 724 742
One- to four-family residential | Classified    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
One Year Before 28 628
Two Years Before 71 387
Three Years Before 507 129
Four Years Before 268  
Prior 1,756 1,178
Revolving Loans 614 1,510
Total 3,244 3,832
Other residential (multi-family)    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 99,386 66,028
One Year Before 153,763 92,268
Two Years Before 113,657 552,183
Three Years Before 541,044 506,902
Four Years Before 291,668 179,094
Prior 184,893 149,422
Revolving Loans 2,999 3,352
Total 1,387,410 1,549,249
Other residential (multi-family) | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 99,386 66,028
One Year Before 153,763 92,268
Two Years Before 113,657 552,183
Three Years Before 541,044 506,902
Four Years Before 266,906 179,094
Prior 182,230 146,712
Revolving Loans 2,999 3,352
Total 1,359,985 1,546,539
Other residential (multi-family) | Watch    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Prior 2,663 2,710
Total 2,663 2,710
Other residential (multi-family) | Special Mention    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Four Years Before 24,762  
Total 24,762  
Commercial business    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 31,698 21,179
One Year Before 22,010 30,091
Two Years Before 9,959 30,678
Three Years Before 14,295 23,597
Four Years Before 18,102 7,684
Prior 38,280 45,047
Revolving Loans 44,170 62,015
Total 178,514 220,291
Current Period Gross Charge Offs    
Three year Before   4
Four Year Before   27
Prior 135 164
Revolving Loans 44 48
Total 179 243
Commercial business | Satisfactory    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Current Year 31,698 21,179
One Year Before 22,010 29,846
Two Years Before 9,959 28,678
Three Years Before 13,490 20,301
Four Years Before 15,629 7,646
Prior 38,256 44,908
Revolving Loans 44,170 62,015
Total 175,212 214,573
Commercial business | Watch    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Two Years Before   1,005
Three Years Before 805 3,296
Four Years Before 2,473  
Prior 24  
Total $ 3,302 4,301
Commercial business | Special Mention    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
Two Years Before   995
Four Years Before   38
Total   1,033
Commercial business | Classified    
LOANS AND ALLOWANCE FOR CREDIT LOSSES    
One Year Before   245
Prior   139
Total   $ 384
v3.25.4
Loans and Allowance for Credit Losses - Schedule of related party transactions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Loans and Allowance for Credit Losses    
Balance, beginning of year $ 8,345 $ 16,026
New loans and draws 12,651 7,446
Payments (2,522) (15,127)
Balance, end of year $ 18,474 $ 8,345
v3.25.4
Other Real Estate Owned and Repossessions - Major classifications of other real estate owned (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions $ 6,036 $ 5,993
Other real estate owned not acquired through foreclosure 0 0
Other real estate owned and repossessions 6,036 5,993
One- to four-family residential    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 0 0
Commercial real estate    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 6,025 5,960
Land development    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 0 0
One- to four-family construction    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 0 0
Subdivision construction    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 0 0
Other residential (multi-family)    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 0 0
Commercial business    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions 0 0
Consumer    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Total foreclosed assets held for sale and repossessions $ 11 $ 33
v3.25.4
Other Real Estate Owned and Repossessions (Details)
Dec. 31, 2025
USD ($)
property
Dec. 31, 2024
USD ($)
property
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Number of real estate properties | property 0 0
Residential mortgage    
OTHER REAL ESTATE OWNED AND REPOSSESSIONS    
Mortgage loans in process of foreclosure, amount | $ $ 0 $ 12,000
v3.25.4
Other Real Estate Owned and Repossessions - Expenses applicable to other real estate owned and repossessions (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Other Real Estate Owned and Repossessions      
Net gains on sales of other real estate owned and repossessions $ (8) $ (496) $ (42)
Valuation write-downs 12   81
Operating expenses (income), net of rental income (522) 192 272
Expenses on other real estate owned and repossessions $ (518) $ (304) $ 311
v3.25.4
Premises and Equipment - Property, Plant and Equipment (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Premises and Equipment    
Land $ 40,250 $ 39,340
Buildings and improvements 110,536 107,525
Furniture, fixtures and equipment 72,121 69,916
Operating leases right of use asset $ 4,161 $ 6,390
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Prepaid Expense and Other Assets Prepaid Expense and Other Assets
Premises and equipment, gross $ 227,068 $ 223,171
Less: accumulated depreciation 93,811 90,705
Total premises and equipment $ 133,257 $ 132,466
v3.25.4
Premises and Equipment - Additional information (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Premises and Equipment      
Operating leases right of use asset $ 4,161,000 $ 6,390,000  
Operating leases liability $ 4,236,000 6,621,000  
Weighted-average lease term 4 years 10 months 24 days    
Operating lease, weighted average discount rate, percent 4.17%    
Operating lease, expense $ 1,697,000 1,735,000 $ 1,700,000
Lease expense related to ATMs 333,000 343,000 317,000
Income recognized from lessor agreements $ 1,400,000 $ 1,300,000 $ 1,300,000
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration] Occupancy, Net Occupancy, Net Occupancy, Net
Minimum      
Premises and Equipment      
Lessee expected lease terms P0Y10M24D    
Maximum      
Premises and Equipment      
Lessee expected lease terms P9Y3M18D    
v3.25.4
Premises and Equipment - Statement of financial information (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statement of Financial Condition      
Operating leases right of use asset $ 4,161 $ 6,390  
Operating leases liability 4,236 6,621  
Statement of Income      
Operating lease costs classified as occupancy and equipment expense (includes short-term lease costs and amortization of right of use asset) 1,697 1,735 $ 1,700
Supplemental Cash Flow Information      
Operating cash flows from operating leases 1,692 1,717  
Operating leases $ (1,136) $ 814  
v3.25.4
Premises and Equipment - Future expected lease payments for leases (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Future expected lease payments    
2026 $ 1,281  
2027 1,124  
2028 881  
2029 411  
2030 257  
Thereafter 768  
Future lease payments expected 4,722  
Less: interest portion of lease payments (486)  
Lease liability $ 4,236 $ 6,621
v3.25.4
Investments in Limited Partnerships (Details)
$ in Millions
 12 Months Ended
Dec. 31, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
item
Dec. 31, 2023
USD ($)
Investments in Limited Partnerships      
Number of investments in affordable housing partnerships | item 21 23  
Investments in affordable housing partnerships carrying value, net $ 96.9 $ 98.8  
Federal affordable housing tax credits 102.3    
Expected amortization of investments in affordable housing partnerships 91.6    
Usage of federal affordable housing tax credits 13.6 11.4 $ 7.7
Actual amortization of investments in affordable housing partnerships $ 12.2 $ 10.2 $ 7.2
v3.25.4
Investments in Limited Partnerships - Investments in Community Development Entities and Investments in Limited Partnerships for Federal Rehabilitation/Historic Tax Credits (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
INVESTMENTS IN LIMITED PARTNERSHIPS      
Investments in community development entities net carrying amount $ 99,000 $ 199,000  
Credit allowance period 7 years    
Community development entities, minimum period before redemption 7 years    
Usage of investment in community development entities federal new market tax credits $ 120,000 120,000 $ 100,000
Actual amortization of investment in community development entities 100,000 75,000 83,000
Investments in limited partnerships for federal or historic tax credits $ 0 0  
Credit allowance period for federal rehabilitation/historic tax credits 5 years    
Usage of certain federal rehabilitation/historic tax credits $ 300,000 305,000 258,000
Actual amortization of investment in limited partnerships $ 0 254,000 $ 214,000
For the first three years      
INVESTMENTS IN LIMITED PARTNERSHIPS      
Percentage of investments on credit allowance period 5.00%    
For the next four years      
INVESTMENTS IN LIMITED PARTNERSHIPS      
Percentage of investments on credit allowance period 6.00%    
Accounting Standards Update 2023-02      
INVESTMENTS IN LIMITED PARTNERSHIPS      
Reduction in retained earnings due to investments in limited partnerships for historic tax credits   161,000  
Accounting Standards Update 2023-02 | Adjustment      
INVESTMENTS IN LIMITED PARTNERSHIPS      
Reduction in the investment in these new market tax credits   $ 62,000  
v3.25.4
Deposits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
DEPOSITS    
Non-interest-bearing demand deposits $ 841,515 $ 842,931
Interest-bearing demand and savings deposits (weighted average rate 1.37% and 1.39%) 2,289,393 2,214,732
Demand deposit accounts, total 3,130,908 3,057,663
Time deposits 688,439 775,772
Interest-bearing domestic deposits, brokered 663,427 772,114
Total Deposits $ 4,482,774 $ 4,605,549
Weighted average interest rate on certificates of deposit 3.13% 3.62%
Interest-Bearing Deposits    
DEPOSITS    
Weighted average rate on interest-bearing demand and savings deposits 1.20% 1.39%
Brokered deposits    
DEPOSITS    
Interest-bearing domestic deposits, brokered $ 663,427 $ 772,114
Weighted average rate on brokered deposits 3.80% 4.61%
Minimum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 3.13%  
Maximum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 3.62%  
0.00% - 0.99%    
DEPOSITS    
Time deposits $ 31,380 $ 52,720
0.00% - 0.99% | Minimum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 0.00%  
0.00% - 0.99% | Maximum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 0.99%  
1.00% - 1.99%    
DEPOSITS    
Time deposits $ 94,864 75,938
1.00% - 1.99% | Minimum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 1.00%  
1.00% - 1.99% | Maximum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 1.99%  
2.00% - 2.99%    
DEPOSITS    
Time deposits $ 22,720 8,244
2.00% - 2.99% | Minimum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 2.00%  
2.00% - 2.99% | Maximum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 2.99%  
3.00% - 3.99%    
DEPOSITS    
Time deposits $ 537,043 89,967
3.00% - 3.99% | Minimum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 3.00%  
3.00% - 3.99% | Maximum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 3.99%  
4.00% - 4.99%    
DEPOSITS    
Time deposits $ 2,432 $ 548,903
4.00% - 4.99% | Minimum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 4.00%  
4.00% - 4.99% | Maximum    
DEPOSITS    
Weighted average interest rate on certificates of deposit 4.99%  
5% and above    
DEPOSITS    
Weighted average interest rate on certificates of deposit 5.00%  
v3.25.4
Deposits - Maturities of certificates of deposit (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
DEPOSITS    
Time deposits by category $ 688,439 $ 775,772
Certificates of deposit    
DEPOSITS    
2026 1,142,827  
2027 156,009  
2028 51,302  
2029 672  
2030 343  
Thereafter 713  
Time deposits by category 1,351,866  
Retail | Certificates of deposit    
DEPOSITS    
2026 679,400  
2027 6,009  
2028 1,302  
2029 672  
2030 343  
Thereafter 713  
Time deposits by category 688,439  
Brokered | Certificates of deposit    
DEPOSITS    
2026 463,427  
2027 150,000  
2028 50,000  
Time deposits by category $ 663,427  
v3.25.4
Deposits - Summary of interest expense on deposits (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Deposits      
Checking and savings accounts $ 31,405 $ 38,140 $ 28,579
Certificate accounts 25,209 34,262 29,796
Brokered deposits 37,670 37,537 30,719
Early withdrawal penalties (147) (234) (337)
Total interest expense on deposits $ 94,137 $ 109,705 $ 88,757
v3.25.4
Deposits - Additional information (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
DEPOSITS    
Interest-bearing domestic deposits, brokered $ 663,427 $ 772,114
Percentage of deposit liability uninsured 38.00%  
Unaffiliated entities    
DEPOSITS    
Percentage of deposit liability uninsured 16.00%  
IntraFi Financial Network    
DEPOSITS    
Interest-bearing domestic deposits, brokered $ 450,000 $ 300,000
v3.25.4
Advances From Federal Home Loan Bank (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
ADVANCES FROM FEDERAL HOME LOAN BANK    
Outstanding term advances from Federal Home Loan Bank $ 0.0 $ 0.0
Investment securities with carrying values 287.7 110.4
Loans with carrying values 2,060.0 $ 2,120.0
Federal Home Loan Bank of Des Moines    
ADVANCES FROM FEDERAL HOME LOAN BANK    
Credit under a borrowing arrangement $ 1,320.0  
v3.25.4
Short-Term Borrowings - Schedule of Short-Term Borrowings (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Short-Term Borrowings.    
Notes payable - Community Development Equity Funds $ 928 $ 1,247
Securities sold under reverse repurchase agreements 48,467 64,444
Short-term borrowings from Federal Reserve Bank 0 180,000
Overnight borrowings from the Federal Home Loan Bank 330,000 333,000
Short-term debt recorded value $ 379,395 $ 578,691
v3.25.4
Short-Term Borrowings - Narratives (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Jun. 10, 2020
Short-Term Borrowings      
Debt Instrument Interest Rate Stated Percentage     5.325%
Short-term borrowings from Federal Reserve Bank $ 0 $ 180,000  
Weighted average interest rates of short-term borrowings 3.58% 4.32%  
Short-term borrowings average $ 386,700 $ 433,800  
Maximum amounts outstanding of short-term borrowing $ 468,600 $ 578,700  
Federal Reserve Bank Advances      
Short-Term Borrowings      
Debt Instrument Interest Rate Stated Percentage   4.83%  
Federal Reserve Bank Advances | Asset pledged as collateral      
Short-Term Borrowings      
Assets pledged   $ 187,700  
v3.25.4
Short-Term Borrowings - Schedule of Repurchase Agreements (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Short-Term Borrowings    
Securities sold under reverse repurchase agreements $ 48,467 $ 64,444
Financial Assets Sold under Agreement to Repurchase | Mortgage Backed Securities, Other    
Short-Term Borrowings    
Securities sold under reverse repurchase agreements $ 48,467 $ 64,444
v3.25.4
Federal Reserve Bank Borrowings (Details) - USD ($)
$ in Millions
 1 Months Ended 12 Months Ended
Jan. 31, 2024
Dec. 31, 2024
Dec. 31, 2025
Federal Reserve Bank Borrowings      
Amount borrowed   $ 0.0 $ 0.0
Federal Reserve Bank Advances      
Federal Reserve Bank Borrowings      
Available line of credit   343.4 $ 305.7
Short term debt $ 180.0 $ 180.0  
v3.25.4
Subordinated Debentures Issued to Capital Trust - Additional information (Details) - USD ($)
$ in Thousands
 1 Months Ended 12 Months Ended
Jun. 30, 2023
Nov. 30, 2006
Dec. 31, 2025
Dec. 31, 2024
Subordinated Debentures Issued to Capital Trusts        
Subordinated debentures   $ 25,800 $ 25,774 $ 25,774
Subordinated Debentures        
Subordinated Debentures Issued to Capital Trusts        
Aggregate liquidation amount   $ 25,000    
Interest rate   6.98% 5.72% 6.43%
London interbanks offered rate (LIBOR) | Subordinated Debentures        
Subordinated Debentures Issued to Capital Trusts        
Spread on variable rate   1.60%    
Secured overnight financing rate (SOFR) overnight index swap rate | Subordinated Debentures        
Subordinated Debentures Issued to Capital Trusts        
Spread on variable rate 1.60%      
v3.25.4
Subordinated Debentures Issued to Capital Trust - Schedule of subordinated debentures issued to capital trusts (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Nov. 30, 2006
Subordinated Debentures Issued to Capital Trusts      
Subordinated debentures $ 25,774 $ 25,774 $ 25,800
v3.25.4
Subordinated Notes (Details) - USD ($)
 12 Months Ended
Jun. 15, 2025
Jun. 10, 2020
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Subordinated Notes          
Public offering and sale of subordinated notes   $ 75,000,000      
Subordinated note interest rate   5.50%      
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]   us-gaap:SecuredOvernightFinancingRateSofrMember      
Repayments of subordinated debt     $ 75,000,000 $ 0 $ 0
Amortization of the debt issuance costs     $ 124,000 $ 297,000 $ 297,000
Subordinated borrowing, interest rate     5.91% 5.92% 5.94%
Senior Subordinated Notes          
Subordinated Notes          
Proceeds from issuance of senior long-term debt   $ 73,500,000      
Payment of financing and stock issuance costs   $ 1,500,000      
Expected life of the notes   5 years      
Repayments of subordinated debt $ 75,000,000        
Redemption price as percentage of aggregate principal balance 100.00%        
v3.25.4
Subordinated Notes - Subordinated borrowing (Details)
$ in Thousands
Dec. 31, 2024
USD ($)
Subordinated Notes  
Subordinated notes $ 75,000
Less: unamortized debt issuance costs 124
Total subordinated notes $ 74,876
v3.25.4
Income Taxes - Additional information (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Income Taxes    
Retained earnings for which no deferred income tax liability had been recognized $ 17.5 $ 17.5
Unrecorded deferred income tax liability $ 4.3 $ 4.3
v3.25.4
Income Taxes - Schedule of provision for income taxes (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Taxes      
Current federal income tax expense $ 16,016 $ 11,392 $ 12,825
Current state income tax expense 1,623 1,841 1,734
Deferred income tax expense (1,315) 457 2,985
Income Tax Expense (Benefit), Total $ 16,324 $ 13,690 $ 17,544
v3.25.4
Income Taxes - Schedule of deferred tax assets and liabilities (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Deferred tax assets    
Allowance for credit losses $ 15,935 $ 15,933
Liability for unfunded commitments 2,103 2,092
Interest on nonperforming loans 39 93
Accrued expenses and other 1,479 2,123
Capital loss carryforward 240 158
Tax credit carryforward 3,047  
Unrealized loss on available-for-sale securities 9,005 15,055
Unrealized loss on securities transferred to held-to-maturity securities 127 64
Unrealized loss on active cash flow derivatives 1,375 4,186
Income recognized for tax in excess of book related to terminated cash flow derivatives   1,528
Deferred income 75 100
Deferred Tax Assets, Gross, Total 33,425 41,332
Deferred tax liabilities    
Tax depreciation in excess of book depreciation (7,256) (6,654)
Partnership tax credits (333) (1,899)
Prepaid expenses (1,035) (781)
Difference in basis for acquired assets and liabilities (346) (31)
Unrealized gain on terminated cash flow derivatives   (1,528)
Other (353) (263)
Deferred tax liabilities, gross, total (9,323) (11,156)
Net deferred tax asset $ 24,102 $ 30,176
v3.25.4
Income Taxes - Effective income tax rate reconciliation (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Effective Income Tax Rate Reconciliation, Amount      
Tax at statutory rate $ 18,332 $ 15,854 $ 17,922
Nontaxable interest and dividends (205) (378) (433)
U.S. federal tax credits, net (predominantly low-income housing) (3,853) (3,319) (2,290)
State income/franchise taxes, net of federal benefit $ 1,354 $ 1,279 $ 1,467
Effective Income Tax Rate Reconciliation, State and Local Jurisdiction, Contribution Greater than 50 Percent, Tax Effect [Extensible Enumeration] Colorado, Illinois, Minnesota Colorado, Illinois, Minnesota Illinois, Minnesota
Other $ 696 $ 254 $ 878
Income Tax Expense (Benefit), Total $ 16,324 $ 13,690 $ 17,544
Tax Jurisdiction of Domicile [Extensible Enumeration] country:US country:US country:US
Effective Income Tax Rate Reconciliation, Percent      
Tax at statutory rate 21.00% 21.00% 21.00%
Nontaxable interest and dividends (0.20%) (0.50%) (0.50%)
U.S. federal tax credits (primarily low-income housing) (4.40%) (4.40%) (2.70%)
State income or franchise taxes 1.60% 1.70% 1.70%
Other 0.70% 0.30% 1.10%
Effective income tax rate reconciliation, percent, Total 18.70% 18.10% 20.60%
v3.25.4
Income Taxes (Details)
 12 Months Ended
Dec. 31, 2025
USD ($)
item
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Income Taxes      
Federal income taxes $ 3,000,000 $ 1,800,000 $ 6,300,000
State taxes 1,300,000 1,900,000 1,600,000
Proceeds from income tax refund, state and local 19,000    
Proceeds from income tax refund, federal $ 65,000 218,000 485,000
State and Local Jurisdiction      
Income Taxes      
Number of pending audits | item 0    
Illinois      
Income Taxes      
Tax Payments $ 345,000 192,000  
Colorado      
Income Taxes      
Tax Payments $ 390,000 313,000  
Minnesota      
Income Taxes      
Tax Payments   622,000 $ 703,000
Kansas      
Income Taxes      
Tax Payments   $ 287,000  
v3.25.4
Disclosures About Fair Value of Financial Instruments - Fair value, assets measured on recurring basis (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Agency mortgage-backed securities    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value $ 301,249 $ 305,907
Agency collateralized mortgage obligations    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 115,333 113,624
States and political subdivisions securities    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 51,398 55,948
Small Business Administration securities    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 55,851 57,894
Interest rate derivative asset    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 5,663 8,065
Interest rate derivative liability    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value (11,236) (25,000)
Level 2 | Agency mortgage-backed securities    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 301,249 305,907
Level 2 | Agency collateralized mortgage obligations    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 115,333 113,624
Level 2 | States and political subdivisions securities    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 51,398 55,948
Level 2 | Small Business Administration securities    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 55,851 57,894
Level 2 | Interest rate derivative asset    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value 5,663 8,065
Level 2 | Interest rate derivative liability    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Assets fair value (11,236) (25,000)
Level 3    
Fair value of recurring basis and the level within the fair value hierarchy in which the fair value measurements    
Available-for-Sale Securities $ 0 $ 0
v3.25.4
Disclosures About Fair Value of Financial Instruments - Fair value measurements of assets measured at fair value on a nonrecurring basis (Details) - Nonrecurring - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Nonrecurring Measurements    
Collateral-dependent loans   $ 701
Foreclosed assets held for sale $ 65  
Level 3    
Nonrecurring Measurements    
Collateral-dependent loans   $ 701
Foreclosed assets held for sale $ 65  
v3.25.4
Disclosures About Fair Value of Financial Instruments - Schedule of financial instruments fair value (Details)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Subordinated debentures    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 25,774 $ 25,774
Fair Value $ 25,774 $ 25,774
Hierarchy Level 3 3
Subordinated notes    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount   $ 74,876
Fair Value   $ 74,438
Hierarchy Level 2 2
Deposits    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 4,482,774 $ 4,605,549
Fair Value $ 4,480,770 $ 4,602,312
Hierarchy Level 3 3
Short-term borrowings    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 379,395 $ 578,691
Fair Value $ 379,395 $ 578,691
Hierarchy Level 3 3
Interest payable    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 3,612 $ 12,761
Fair Value $ 3,612 $ 12,761
Hierarchy Level 3 3
Unrecognized financial instruments (net of contractual value) | Commitments to originate loans    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Hierarchy Level 3 3
Unrecognized financial instruments (net of contractual value) | Letters of credit    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 53 $ 72
Fair Value $ 53 $ 72
Hierarchy Level 3 3
Unrecognized financial instruments (net of contractual value) | Lines of credit    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Hierarchy Level 3 3
Loans, net of allowance for credit losses    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 4,356,853 $ 4,690,393
Fair Value $ 4,261,757 $ 4,529,729
Hierarchy Level 3 3
Cash and cash equivalents    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 189,554 $ 195,756
Fair Value $ 189,554 $ 195,756
Hierarchy Level 1 1
Held-to-maturity securities    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 179,200 $ 187,433
Fair Value $ 162,629 $ 162,765
Hierarchy Level 2 2
Mortgage loans held for sale    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 6,838 $ 6,937
Fair Value $ 6,838 $ 6,937
Hierarchy Level 2 2
Interest receivable    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 18,068 $ 20,430
Fair Value $ 18,068 $ 20,430
Hierarchy Level 3 3
Investment in FHLB stock and other assets    
DISCLOSURES ABOUT FAIR VALUE OF FINANCIAL INSTRUMENTS    
Carrying Amount $ 20,079 $ 28,392
Fair Value $ 20,079 $ 28,392
Hierarchy Level 3 3
v3.25.4
Derivatives and Hedging Activities - Non-designated Hedges and Fair value hedges (Details)
 1 Months Ended 12 Months Ended
Jan. 31, 2024
USD ($)
Dec. 31, 2025
USD ($)
contract
loan
Dec. 31, 2024
USD ($)
contract
loan
Dec. 31, 2023
USD ($)
Feb. 28, 2023
USD ($)
Nondesignated Hedges          
Derivatives and Hedging Activities          
Gains (losses) on fair value hedges recognized in earnings   $ (62,000) $ (58,000) $ (337,000)  
Nondesignated Hedges | Commercial customers          
Derivatives and Hedging Activities          
Total notional amount of the swaps   114,400,000 86,700,000    
Interest rate contract | Nondesignated Hedges | Third parties          
Derivatives and Hedging Activities          
Total notional amount of the swaps   $ 114,400,000 $ 86,700,000    
Interest rate swaps | Nondesignated Hedges          
Derivatives and Hedging Activities          
Number of interest rate derivatives held | contract   6 5    
Number of participation loans purchased | loan   1 1    
Participating mortgage loans, mortgage obligations amount   $ 199,000 $ 8,400,000    
Interest rate swaps | Nondesignated Hedges | Third parties          
Derivatives and Hedging Activities          
Number of interest rate derivatives held | contract   6 5    
Interest rate swaps | Fair Value Hedges          
Derivatives and Hedging Activities          
Total notional amount of the swaps         $ 95,000,000
Fixed rate of interest         4.65%
Net settled payment $ 26,500        
Brokered deposit $ 163,000        
v3.25.4
Derivatives and Hedging Activities - Cash Flow Hedges (Details) - USD ($)
 1 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jul. 31, 2022
Mar. 31, 2022
Oct. 31, 2018
Derivatives and Hedging Activities              
USD-Prime rate   6.75%          
USD-SOFR OIS rate   3.78659%          
Non-interest income related to changes in the fair value   $ 0 $ 0        
Interest rate swaps | Cash flow hedges              
Derivatives and Hedging Activities              
Total notional amount of the swaps           $ 300,000,000 $ 400,000,000
Derivative, fixed interest rate             3.018%
Terminated notional amount of derivatives $ 400,000,000            
Expected interest income on termination $ 45,900,000            
Loan interest income on terminated interest rate swap   6,200,000 8,100,000 $ 8,100,000      
Terminated interest rate swap     1,900,000 10,400,000      
Interest rate swap one | Cash flow hedges              
Derivatives and Hedging Activities              
Total notional amount of the swaps         $ 200,000,000    
Derivative, fixed interest rate         2.628%    
Interest rate swap two | Cash flow hedges              
Derivatives and Hedging Activities              
Total notional amount of the swaps         $ 200,000,000    
Derivative, fixed interest rate         5.725%    
July 2022 interest rate swaps | Cash flow hedges              
Derivatives and Hedging Activities              
Loan interest income expense   $ 6,600,000 $ 10,400,000 $ 7,200,000      
v3.25.4
Derivatives and Hedging Activities - Fair value and location (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Derivatives designated as hedging instruments    
Total derivatives designated as hedging instruments, Liabilities $ 5,590 $ 17,014
Derivatives not designated as hedging instruments    
Total derivatives not designated as hedging instruments, Assets 5,663 8,065
Total derivatives not designated as hedging instruments, Liabilities 5,646 7,986
Active interest rate swaps | Accrued expenses and other liabilities    
Derivatives designated as hedging instruments    
Total derivatives designated as hedging instruments, Liabilities 5,590 17,014
Interest rate products | Prepaid expenses and other assets    
Derivatives not designated as hedging instruments    
Total derivatives not designated as hedging instruments, Assets 5,663 8,065
Interest rate products | Accrued expenses and other liabilities    
Derivatives not designated as hedging instruments    
Total derivatives not designated as hedging instruments, Liabilities $ 5,646 $ 7,986
v3.25.4
Derivatives and Hedging Activities - Cash Flow Hedge on Comprehensive Income (Details) - Amount of Gain (Loss) Recognized in AOCI - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives and Hedging Activities      
Interest rate swaps, net of income taxes $ 3,813 $ (6,072) $ 4,274
Terminated interest rate swaps, net of income taxes      
Derivatives and Hedging Activities      
Interest rate swaps, net of income taxes (4,801) (6,286) (6,267)
Active interest rate swaps, net of income taxes      
Derivatives and Hedging Activities      
Interest rate swaps, net of income taxes $ 8,614 $ 214 $ 10,541
v3.25.4
Derivatives and Hedging Activities - Cash Flow Hedge on Statements of Income (Details) - Interest Income - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Derivatives and Hedging Activities      
Interest rate swaps, net of income taxes $ (415) $ (4,136) $ (9,496)
Terminated interest rate swaps, net of income taxes      
Derivatives and Hedging Activities      
Interest rate swaps, net of income taxes 6,209 8,145 8,122
Active interest rate swaps, net of income taxes      
Derivatives and Hedging Activities      
Interest rate swaps, net of income taxes $ (6,624) $ (12,281) $ (17,618)
v3.25.4
Derivatives and Hedging Activities - Agreements with Derivative Counterparties (Details) - USD ($)
Dec. 31, 2025
Dec. 31, 2024
Loan level swaps    
Derivatives and Hedging Activities    
Derivative counterparties collateral $ 1,600,000 $ 9,900,000
Commercial lending swaps    
Derivatives and Hedging Activities    
Derivative counterparties collateral 4,500,000 8,100,000
Interest rate swaps    
Derivatives and Hedging Activities    
Derivative counterparties collateral 6,000,000 17,700,000
Net asset position | Balance sheet hedge    
Derivatives and Hedging Activities    
Termination value of derivatives with derivative dealer counterparties $ 17,000 $ 79,000
v3.25.4
Commitments and Credit Risk - Outstanding Commitments to Originate Loans (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Credit Risk    
Outstanding commitments to originate loans $ 0.0 $ 34.5
v3.25.4
Commitments and Credit Risk - Mortgage Loans in Process of Origination (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Credit Risk    
Mortgage loans in the process of origination $ 14.1 $ 14.4
v3.25.4
Commitments and Credit Risk - Letters of Credit (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Credit Risk    
Letters of credit outstanding, amount $ 15.2 $ 16.8
v3.25.4
Commitments and Credit Risk - Lines of Credit (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Commitments and Credit Risk    
Letters of credit outstanding, amount $ 15.2 $ 16.8
Commercial lines of credit    
Commitments and Credit Risk    
Letters of credit outstanding, amount 954.8 993.8
Open-end consumer lines of credit    
Commitments and Credit Risk    
Letters of credit outstanding, amount $ 208.2 $ 205.6
v3.25.4
Commitments and Credit Risk: Credit Risk - Secured Loans (Details) - USD ($)
$ in Millions
Dec. 31, 2025
Dec. 31, 2024
Asset pledged as collateral    
Commitments and Credit Risk    
Loans and leases receivable, collateral for secured borrowings $ 709.3 $ 781.4
v3.25.4
Additional Cash Flow Information - Schedule of Cash Flow, Supplemental Disclosures (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Additional Cash Flow Information      
Federal income taxes paid $ 3,000 $ 1,800 $ 6,300
Income taxes paid to state and local jurisdictions 1,300 1,900 1,600
Noncash investing and financing activities      
Additional Cash Flow Information      
Foreclosed assets acquired in settlement of loans 255 15,771 142
Sale and financing of foreclosed assets   9,585  
Conversion of premises and equipment to foreclosed assets   994  
Increase in unfunded portion of investments in tax credit partnerships and corresponding liability for future funding upon accounting standard adoption   30,555  
Dividends declared but not paid 4,761 4,692 4,722
Additional cash payment information      
Additional Cash Flow Information      
Interest paid 122,648 129,019 100,405
Federal income taxes paid 3,000 1,800 6,310
Income taxes paid to state and local jurisdictions $ 1,327 $ 1,853 $ 1,578
v3.25.4
Employee Benefits (Details) - USD ($)
$ in Millions
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Jul. 01, 2025
Jul. 01, 2024
Employee Benefits          
Employer contributions charged to expense $ 1.5 $ 1.5 $ 1.7    
Percentage of employer maximum total contributions 5.00%        
Funded status of the plan (as a percent)       95.10% 93.40%
Percentage of employer's matching contribution of the employee's compensation 100.00%        
Percentage of employee's compensation on which employer matches 3.00%        
Percentage of employer's matching contribution of the employee's compensation 50.00%        
Percentage of employee's compensation on which employer matches 2.00%        
Employer contributions charged to expense $ 2.0 $ 1.8 $ 1.8    
v3.25.4
Stock Compensation Plans - Additional Information (Details)
 12 Months Ended
Dec. 31, 2025
shares
Dec. 31, 2024
shares
Dec. 31, 2023
shares
Dec. 31, 2022
shares
Stock Compensation Plans        
Number outstanding (in shares) 1,306,262 1,207,321 1,240,305 1,064,917
Stock options term 10 years      
Percentage of cumulative annual installments 25.00%      
2013 Plan        
Stock Compensation Plans        
Number of shares authorized (in shares) 700,000      
Number outstanding (in shares) 95,622      
2018 Plan        
Stock Compensation Plans        
Number of shares authorized (in shares) 800,000      
Number outstanding (in shares) 423,185      
2022 Plan        
Stock Compensation Plans        
Number of shares authorized (in shares) 900,000      
Number outstanding (in shares) 787,455      
Ratio of shares utilized for awards other than stock options and stock appreciation rights 2.5      
v3.25.4
Stock Compensation Plans - Schedule of Share-based Compensation, Stock Options, Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Available to be Granted      
Available to be granted beginning of period 301,349 487,600 694,850
Available to be granted end of period 93,161 301,349 487,600
Shares Under Option      
Options outstanding at beginning of period 1,207,321 1,240,305 1,064,917
Granted 224,975 214,800 210,300
Exercised (94,463) (203,601) (22,762)
Options outstanding at end of period 1,306,262 1,207,321 1,240,305
Weighted Average Exercise Price      
Weighted Average Exercise Price beginning of period (in dollars per share) $ 55.921 $ 53.857 $ 53.671
Exercised (in dollars per share) 51.029 49.586 38.83
Weighted Average Exercise Price, end of period (in dollars per share) $ 56.47 $ 55.921 $ 53.857
Terminated plans      
Shares Under Option      
Forfeited (14,784) (15,634) (9,100)
Weighted Average Exercise Price      
Forfeited (in dollars per share) $ 56.91 $ 51.289 $ 51.123
2022 Plan      
Available to be Granted      
Granted (224,975) (214,800) (210,300)
Shares Under Option      
Granted 224,975 214,800 210,300
Options outstanding at end of period 787,455    
Weighted Average Exercise Price      
Granted (in dollars per share) $ 57.318 $ 61.706 $ 53.166
Current plans      
Available to be Granted      
Forfeited 16,787 28,549 3,050
Shares Under Option      
Forfeited (16,787) (28,549) (3,050)
Weighted Average Exercise Price      
Forfeited (in dollars per share) $ 58.626 $ 57.483 $ 61.55
2018 Plan      
Shares Under Option      
Options outstanding at end of period 423,185    
Employee Stock Option      
Shares Under Option      
Options outstanding at beginning of period 1,207,321    
Forfeited (31,571)    
Granted 224,975    
Exercised (94,463)    
Options outstanding at end of period 1,306,262 1,207,321  
Options exercisable, end of period 602,881    
Weighted Average Exercise Price      
Weighted Average Exercise Price beginning of period (in dollars per share) $ 55.921    
Granted (in dollars per share) 57.318    
Exercised (in dollars per share) 51.029    
Forfeited (in dollars per share) 57.822    
Weighted Average Exercise Price, end of period (in dollars per share) 56.47 $ 55.921  
Weighted Average Exercise Price, exercisable, end of period (in dollars per share) $ 54.268    
Weighted Average Remaining Contractual Term 6 years 8 months 8 days 6 years 9 months 18 days  
Weighted Average Remaining contractual Term, exercisable 4 years 6 months 3 days    
v3.25.4
Stock Compensation Plans - Schedule of Fair Value Option Pricing Model Assumptions (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock Compensation Plans      
Expected dividends per share (in dollars per share) $ 1.72 $ 1.6 $ 1.6
Risk-free interest rate 3.81% 4.31% 4.51%
Expected life of options 6 years 6 years 6 years
Expected volatility 24.17% 25.48% 23.69%
Weighted average fair value of options granted during year (in dollars per share) $ 12.03 $ 15.01 $ 11.69
v3.25.4
Stock Compensation Plans - Options Granted and Intrinsic Value (Details) - USD ($)
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock Compensation Plans      
Options granted (in shares) 224,975 214,800 210,300
The total intrinsic value of options exercised $ 911,000 $ 2,700,000 $ 354,000
Proceeds from stock options exercised 4,820,000 10,096,000 884,000
The actual tax benefit realized for the tax deductions from option exercises 841,000 2,500,000 212,000
The total intrinsic value of options outstanding 6,700,000 5,400,000 7,400,000
The total intrinsic value of options exercisable $ 4,400,000 $ 3,300,000 $ 4,500,000
v3.25.4
Stock Compensation Plans - Schedule of Nonvested Share Activity (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Options      
Granted 224,975 214,800 210,300
Weighted Average Grant Date Fair Value      
Granted (in dollars per share) $ 12.03 $ 15.01 $ 11.69
Employee Stock Option [Member]      
Options      
Nonvested options, beginning of period 667,710    
Granted 224,975    
Vesting this period (169,810)    
Nonvested options forfeited (19,494)    
Nonvested options, end of period 703,381 667,710  
Weighted Average Exercise Price      
Nonvested options, beginning of period (in dollars per share) $ 57.638    
Granted (in dollars per share) 57.318    
Vested (in dollars per share) 54.274    
Forfeited (in dollars per share) 57.294    
Nonvested options, end of period (in dollars per share) 58.357 $ 57.638  
Weighted Average Grant Date Fair Value      
Nonvested options, beginning of period (in dollars per share) 12.866    
Granted (in dollars per share) 12.016    
Vested (in dollars per share) 11.235    
Forfeited (in dollars per share) 12.653    
Nonvested options, end of period (in dollars per share) $ 12.994 $ 12.866  
v3.25.4
Stock Compensation Plans - Nonvested Options Granted Unrecognized Compensation Cost (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Stock Compensation Plans      
Compensation expense for stock option grants $ 1,857 $ 1,770 $ 1,621
Total unrecognized compensation cost related to nonvested options granted $ 8,700    
v3.25.4
Stock Compensation Plans - Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable (Details) - $ / shares
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Stock Compensation Plans        
Number outstanding (in shares) 1,306,262 1,207,321 1,240,305 1,064,917
Weighted Average Exercise Price (in dollars per share) $ 56.47 $ 55.921 $ 53.857 $ 53.671
Range of Exercise Prices | Options Outstanding        
Stock Compensation Plans        
Number outstanding (in shares) 1,306,262      
Weighted Average Remaining Contractual Term 6 years 8 months 8 days      
Weighted Average Exercise Price (in dollars per share) $ 56.47      
Range of Exercise Prices | Options exercisable        
Stock Compensation Plans        
Number Exercisable (in shares) 602,881      
Weighted Average Exercise Price (in dollars per share) $ 54.268      
Range of Exercise Prices | $41.300 to 41.740        
Stock Compensation Plans        
Exercise price range, minimum 41.3      
Exercise price range, maximum $ 41.74      
Range of Exercise Prices | $41.300 to 41.740 | Options Outstanding        
Stock Compensation Plans        
Number outstanding (in shares) 118,345      
Weighted Average Remaining Contractual Term 3 years 10 months 9 days      
Weighted Average Exercise Price (in dollars per share) $ 41.635      
Range of Exercise Prices | $41.300 to 41.740 | Options exercisable        
Stock Compensation Plans        
Number Exercisable (in shares) 118,345      
Weighted Average Exercise Price (in dollars per share) $ 41.635      
Range of Exercise Prices | $50.720 to 59.160        
Stock Compensation Plans        
Exercise price range, minimum 50.72      
Exercise price range, maximum $ 59.16      
Range of Exercise Prices | $50.720 to 59.160 | Options Outstanding        
Stock Compensation Plans        
Number outstanding (in shares) 707,134      
Weighted Average Remaining Contractual Term 6 years 10 months 17 days      
Weighted Average Exercise Price (in dollars per share) $ 55.627      
Range of Exercise Prices | $50.720 to 59.160 | Options exercisable        
Stock Compensation Plans        
Number Exercisable (in shares) 300,185      
Weighted Average Exercise Price (in dollars per share) $ 55.25      
Range of Exercise Prices | $60.150 to 65.670        
Stock Compensation Plans        
Exercise price range, minimum 60.15      
Exercise price range, maximum $ 65.67      
Range of Exercise Prices | $60.150 to 65.670 | Options Outstanding        
Stock Compensation Plans        
Number outstanding (in shares) 480,783      
Weighted Average Remaining Contractual Term 7 years 1 month 9 days      
Weighted Average Exercise Price (in dollars per share) $ 61.361      
Range of Exercise Prices | $60.150 to 65.670 | Options exercisable        
Stock Compensation Plans        
Number Exercisable (in shares) 184,351      
Weighted Average Exercise Price (in dollars per share) $ 60.778      
v3.25.4
Accumulated Other Comprehensive Income - Schedule of Amounts in Accumulated Other Comprehensive Income (Loss) to be Recognized over Next Fiscal Year (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Accumulated Other Comprehensive Income    
Accumulated other comprehensive income, before tax $ (42,706) $ (72,258)
Tax effect 10,506 17,896
Net-of-tax amount (32,200) (54,362)
Net unrealized loss on available-for-sale securities    
Accumulated Other Comprehensive Income    
Accumulated other comprehensive income, before tax (36,599) (61,191)
Net unrealized loss on held-to-maturity securities    
Accumulated Other Comprehensive Income    
Accumulated other comprehensive income, before tax (517) (262)
Net unrealized loss on active derivatives used for cash flow hedges    
Accumulated Other Comprehensive Income    
Accumulated other comprehensive income, before tax $ (5,590) (17,014)
Net unrealized gain on terminated derivatives used for cash flow hedges    
Accumulated Other Comprehensive Income    
Accumulated other comprehensive income, before tax   $ 6,209
v3.25.4
Accumulated Other Comprehensive Income - Schedule of Amounts Reclassified from Accumulated Other Comprehensive Income (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Accumulated Other Comprehensive Income      
Change in fair value of cash flow hedge $ 313,732 $ 324,698 $ 296,835
Income taxes (16,324) (13,690) (17,544)
Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income      
Income taxes (1,408) (1,859) (1,855)
Total reclassifications out of AOCI 4,801 6,286 6,267
Amortization of realized gain on termination of cash flow hedge (total reclassification amount before tax) | Affected Line Item in the Statements of Income | Reclassification out of Accumulated Other Comprehensive Income      
Accumulated Other Comprehensive Income      
Change in fair value of cash flow hedge $ 6,209 $ 8,145 $ 8,122
v3.25.4
Regulatory Matters - Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations (Details)
$ in Thousands
Dec. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Great Southern Bancorp, Inc.    
Total capital    
Actual capital, Amount $ 744,073 $ 809,221
Actual capital, Ratio 0.153 0.154
For Capital Adequacy Purposes, Amount $ 388,101 $ 419,108
For Capital Adequacy Purposes, Ratio 0.08 0.08
Tier I capital    
Actual capital, Amount $ 683,276 $ 668,639
Actual capital, Ratio 0.141 0.128
For Capital Adequacy Purposes, Amount $ 291,075 $ 314,331
For Capital Adequacy Purposes, Ratio 0.06 0.06
Tier I leverage capital    
Actual capital, Amount $ 683,276 $ 668,639
Actual capital, Ratio 0.122 0.112
For Capital Adequacy Purposes, Amount $ 224,310 $ 239,536
For Capital Adequacy Purposes, Ratio 0.04 0.04
Common equity Tier I capital    
Actual capital, Amount $ 658,276 $ 643,639
Actual capital, Ratio 0.136 0.123
For Capital Adequacy Purposes, Amount $ 218,307 $ 235,748
For Capital Adequacy Purposes, Ratio 0.045 0.045
Great Southern Bank    
Total capital    
Actual capital, Amount $ 693,155 $ 725,974
Actual capital, Ratio 0.143 0.139
For Capital Adequacy Purposes, Amount $ 388,030 $ 418,985
For Capital Adequacy Purposes, Ratio 0.08 0.08
To Be Well capitalized Under Prompt Corrective Action Provisions, Amount $ 485,038 $ 523,732
To Be Well capitalized Under Prompt Corrective Action Provisions, Ratio 0.10 0.10
Tier I capital    
Actual capital, Amount $ 632,369 $ 660,411
Actual capital, Ratio 0.13 0.126
For Capital Adequacy Purposes, Amount $ 291,023 $ 314,239
For Capital Adequacy Purposes, Ratio 0.06 0.06
To Be Well capitalized Under Prompt Corrective Action Provisions, Amount $ 388,030 $ 418,985
To Be Well capitalized Under Prompt Corrective Action Provisions, Ratio 0.08 0.08
Tier I leverage capital    
Actual capital, Amount $ 632,369 $ 660,411
Actual capital, Ratio 0.113 0.11
For Capital Adequacy Purposes, Amount $ 224,275 $ 239,487
For Capital Adequacy Purposes, Ratio 0.04 0.04
To Be Well capitalized Under Prompt Corrective Action Provisions, Amount $ 280,344 $ 299,359
To Be Well capitalized Under Prompt Corrective Action Provisions, Ratio 0.05 0.05
Common equity Tier I capital    
Actual capital, Amount $ 632,369 $ 660,411
Actual capital, Ratio 0.13 0.126
For Capital Adequacy Purposes, Amount $ 218,267 $ 235,679
For Capital Adequacy Purposes, Ratio 0.045 0.045
To Be Well capitalized Under Prompt Corrective Action Provisions, Amount $ 315,275 $ 340,426
To Be Well capitalized Under Prompt Corrective Action Provisions, Ratio 0.065 0.065
v3.25.4
Litigation Matters (Details)
$ in Millions
Dec. 31, 2024
USD ($)
Litigation Matters  
Accrued expense $ 2.0
v3.25.4
Summary of Unaudited Quarterly Operating Results: Schedule of Quarterly Financial Information (Details) - USD ($)
$ / shares in Units, $ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Summary of Unaudited Quarterly Operating Results                              
Interest income $ 73,435 $ 79,079 $ 80,975 $ 80,243 $ 82,585 $ 83,796 $ 80,927 $ 77,390 $ 76,482 $ 75,272 $ 73,618 $ 71,463      
Interest expense 24,272 28,306 30,012 30,909 33,051 35,821 34,109 32,574 31,335 28,534 25,480 18,271 $ 113,499 $ 135,555 $ 103,620
Provision for credit losses on loans           1,200   500 750     1,500      
Provision (credit) for unfunded commitments 882 (379) (110) (348) 1,556 (63) (607) 130 (1,689) (1,195) (1,619) (826)      
Non-interest income 7,188 7,062 8,212 6,590 6,934 6,992 9,833 6,806 6,563 7,852 7,769 7,889      
Non-interest expense 36,000 36,116 35,005 34,822 36,947 33,717 36,409 34,422 36,285 35,557 34,718 34,463      
Provision for income taxes 3,194 4,346 4,494 4,290 3,043 3,623 3,861 3,163 3,219 4,349 4,488 5,488      
Net income available to common shareholders $ 16,275 $ 17,752 $ 19,786 $ 17,160 $ 14,922 $ 16,490 $ 16,988 $ 13,407 $ 13,145 $ 15,879 $ 18,320 $ 20,456      
Earnings per common share - diluted $ 1.45 $ 1.56 $ 1.72 $ 1.47 $ 1.27 $ 1.41 $ 1.45 $ 1.13 $ 1.11 $ 1.33 $ 1.52 $ 1.67      
v3.25.4
Condensed Parent Company Statements - Statements of Financial Condition (Details) - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Statements of Financial Condition    
Cash $ 109,833 $ 109,366
Prepaid expenses and other assets 128,615 136,594
Total assets 5,598,606 5,981,628
Subordinated debentures issued to capital trust   74,876
Subordinated notes   74,876
Additional paid-in capital 54,120 50,336
Retained earnings 614,095 603,477
Accumulated other comprehensive income (loss) (32,200) (54,362)
Total liabilities and stockholders' equity 5,598,606 5,981,628
Parent Company    
Statements of Financial Condition    
Cash 56,332 87,621
Investment in subsidiary bank 610,219 616,340
Deferred and accrued income taxes 35 618
Prepaid expenses and other assets 833 898
Total assets 667,419 705,477
Accounts payable and accrued expenses 5,519 5,259
Subordinated debentures issued to capital trust 25,774 25,774
Subordinated notes   74,876
Common stock 111 117
Additional paid-in capital 54,120 50,336
Retained earnings 614,095 603,477
Accumulated other comprehensive income (loss) (32,200) (54,362)
Total liabilities and stockholders' equity $ 667,419 $ 705,477
v3.25.4
Condensed Parent Company Statements - Statements of Income (Details) - USD ($)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Sep. 30, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statements of Income                              
Interest expense $ 24,272 $ 28,306 $ 30,012 $ 30,909 $ 33,051 $ 35,821 $ 34,109 $ 32,574 $ 31,335 $ 28,534 $ 25,480 $ 18,271 $ 113,499 $ 135,555 $ 103,620
Parent Company                              
Statements of Income                              
Dividends from subsidiary bank                         105,000 70,000 65,000
Total income                         105,000 70,000 65,000
Operating expenses                         3,514 3,280 2,780
Interest expense                         3,561 6,221 6,158
Total expense                         7,075 9,501 8,938
Income before income tax and equity in undistributed earnings of subsidiaries                         97,925 60,499 56,062
Credit for income taxes                         (1,331) (1,960) (1,932)
Income before equity in earnings of subsidiaries                         99,256 62,459 57,994
Equity in undistributed earnings of subsidiaries                         (28,283) (652) 9,806
Net income                         $ 70,973 $ 61,807 $ 67,800
v3.25.4
Condensed Parent Company Statements - Statements of Cash Flows (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statements of Cash Flows      
Prepaid expenses and other assets $ 5,578 $ (178) $ (4,543)
Net cash provided by operating activities 81,521 44,064 80,700
Net cash provided by (used in) investing activities 367,180 (175,394) (88,208)
Dividends paid (18,724) (18,708) (19,282)
Redemption of subordinated notes (75,000) 0 0
Net cash provided by (used in) financing activities (454,903) 115,753 50,321
Cash and Cash Equivalents, Beginning of Year 195,756 211,333 168,520
Cash and Cash Equivalents, End of Year 189,554 195,756 211,333
Parent Company      
Statements of Cash Flows      
Net income 70,973 61,807 67,800
Equity in undistributed earnings of subsidiary 28,283 652 (9,806)
Compensation expense for stock option grants 1,857 1,770 1,621
Amortization of interest rate derivative and deferred costs on subordinated notes 124 297 298
Prepaid expenses and other assets 65 (21) 5
Accounts payable and accrued expenses 191 (191) 250
Income taxes 583 23 (493)
Net cash provided by operating activities 102,076 64,337 59,675
Purchases of the Company's common stock (44,461) (15,152) (23,326)
Dividends paid (18,724) (18,708) (19,282)
Stock options exercised 4,820 10,096 884
Redemption of subordinated notes (75,000)    
Net cash provided by (used in) financing activities (133,365) (23,764) (41,724)
Cash, Period Increase (Decrease), Total (31,289) 40,573 17,951
Cash and Cash Equivalents, Beginning of Year 87,621 47,048 29,097
Cash and Cash Equivalents, End of Year 56,332 87,621 47,048
Interest paid $ 3,772 $ 6,247 $ 6,107
v3.25.4
Condensed Parent Company Statements - Statements of Comprehensive Income - (Details) - USD ($)
$ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Statements of Comprehensive Income      
Net Income $ 70,973 $ 61,807 $ 67,800
Comprehensive Income 93,135 49,926 78,674
Parent Company      
Statements of Comprehensive Income      
Net Income 70,973 61,807 67,800
Comprehensive income (loss) of subsidiaries 22,162 (11,881) 10,874
Comprehensive Income $ 93,135 $ 49,926 $ 78,674
v3.25.4
Operating Segments - Financial Results (Details)
$ in Thousands
 3 Months Ended 12 Months Ended
Dec. 31, 2025
USD ($)
Sep. 30, 2025
USD ($)
Jun. 30, 2025
USD ($)
Mar. 31, 2025
USD ($)
Dec. 31, 2024
USD ($)
Sep. 30, 2024
USD ($)
Jun. 30, 2024
USD ($)
Mar. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
Sep. 30, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2025
USD ($)
segment
Dec. 31, 2024
USD ($)
Dec. 31, 2023
USD ($)
OPERATING SEGMENTS                              
Number of reportable segments | segment                         1    
Interest income                         $ 313,732 $ 324,698 $ 296,835
Interest expense $ 24,272 $ 28,306 $ 30,012 $ 30,909 $ 33,051 $ 35,821 $ 34,109 $ 32,574 $ 31,335 $ 28,534 $ 25,480 $ 18,271 113,499 135,555 103,620
Net Interest Income                         200,233 189,143 193,215
Net interest income after credit loss expense                         200,188 186,427 196,294
Non-interest Income                              
Commissions                         1,626 1,227 1,153
Overdraft and insufficient funds fees                         5,182 5,140 7,617
Point-of-sale and ATM fee income and service charges                         13,202 13,586 14,346
Net gain on loan sales                         3,272 3,779 2,354
Late charges and fees on loans                         1,193 512 786
Other income                         4,639 6,379 4,154
Total Non-interest Income                         29,052 30,565 30,073
Non-interest Expense                              
Net occupancy expense                         35,297 32,118 30,834
Postage                         3,565 3,329 3,590
Advertising                         2,929 3,124 3,396
Office supplies and printing                         953 1,008 1,057
Telephone                         2,797 2,772 2,730
Legal, audit and other professional fees                         4,166 5,399 7,086
Expense (income) on other real estate and repossessions                         (518) (304) 311
Intangible asset amortization                         434 433 286
Other operating expenses                         7,909 10,395 8,670
Total Non-interest Expense                         141,943 141,495 141,023
Income Before Income Taxes                         87,297 75,497 85,344
Provision for Income Taxes                         16,324 13,690 17,544
Net Income                         70,973 61,807 67,800
Banking segment                              
OPERATING SEGMENTS                              
Interest income                         313,732 324,698 296,835
Interest expense                         113,499 135,555 103,620
Net Interest Income                         200,233 189,143 193,215
Credit loss expense                         45 2,716 (3,079)
Net interest income after credit loss expense                         200,188 186,427 196,294
Non-interest Income                              
Commissions                         1,626 1,227 1,153
Overdraft and insufficient funds fees                         5,182 5,140 7,617
Point-of-sale and ATM fee income and service charges                         13,202 13,586 14,346
Net gain on loan sales                         3,272 3,779 2,354
Late charges and fees on loans                         1,193 512 786
Fees from debit card contracts                         1,615 1,804 2,579
Other income                         2,962 4,517 1,238
Total Non-interest Income                         29,052 30,565 30,073
Non-interest Expense                              
Salaries and incentives                         64,911 63,954 63,641
Employee benefits                         15,052 14,645 14,880
Net occupancy expense                         13,267 12,430 12,357
Technology, furniture and equipment expense                         22,030 19,688 18,477
Postage                         3,565 3,329 3,590
Insurance                         4,448 4,622 4,542
Advertising                         2,929 3,124 3,396
Office supplies and printing                         953 1,008 1,057
Telephone                         2,797 2,772 2,730
Legal, audit and other professional fees                         4,166 5,399 7,086
Expense (income) on other real estate and repossessions                         (518) (304) 311
Intangible asset amortization                         434 433 286
Travel, meals and entertainment                         2,141 2,066 2,076
Other operating expenses                         5,768 8,329 6,594
Total Non-interest Expense                         141,943 141,495 141,023
Income Before Income Taxes                         87,297 75,497 85,344
Provision for Income Taxes                         16,324 13,690 17,544
Net Income                         $ 70,973 $ 61,807 $ 67,800