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Loans Receivable, Net | 12 Months Ended
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Dec. 31, 2024
Receivables [Abstract] |
Loans Receivable, Net | Loans Receivable, Net Loans receivable, net at December 31, 2024 and 2023 consisted of the following (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Commercial: |  |  |  |
Commercial real estate - investor |  | $ | 5,287,683 |  |  | $ | 5,353,974 |
Commercial real estate - owner occupied |  | 902,219 |  |  | 943,891 |
Commercial and industrial |  | 647,945 |  |  | 666,532 |
Total commercial |  | 6,837,847 |  |  | 6,964,397 |
Consumer: |  |  |  |
Residential real estate |  | 3,049,763 |  |  | 2,979,534 |
Home equity loans and lines and other consumer (“other consumer”) |  | 230,462 |  |  | 250,664 |
Total consumer |  | 3,280,225 |  |  | 3,230,198 |
Total loans receivable |  | 10,118,072 |  |  | 10,194,595 |
Deferred origination costs, net of fees |  | 10,964 |  |  | 9,263 |
Allowance for loan credit losses |  | (73,607) |  |  | (67,137) |
Total loans receivable, net |  | $ | 10,055,429 |  |  | $ | 10,136,721 |
The Company categorizes all loans into risk categories based on relevant information about the ability of borrowers to service their debt, such as: current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company evaluates risk ratings on an ongoing basis. The Company uses the following definitions for risk ratings: Pass: Loans classified as Pass are well protected by the paying capacity and net worth of the borrower. Special Mention: Loans classified as Special Mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the Bank’s credit position at some future date. Substandard: Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the collection or the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The following tables summarize total loans by year of origination, internally assigned credit grades, and risk characteristics (in thousands):
|  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 and prior |  | Revolving lines of credit |  | Total
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate - investor |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 75,225 |  |  | $ | 140,863 |  |  | $ | 1,142,790 |  |  | $ | 1,290,047 |  |  | $ | 510,906 |  |  | $ | 1,264,536 |  |  | $ | 750,607 |  |  | $ | 5,174,974 |
Special Mention |  | 15 |  |  | — |  |  | 21,285 |  |  | — |  |  | — |  |  | 18,225 |  |  | 4,477 |  |  | 44,002 |
Substandard |  | 95 |  |  | 8 |  |  | 3,784 |  |  | — |  |  | 6,111 |  |  | 44,636 |  |  | 14,073 |  |  | 68,707 |
Total commercial real estate - investor |  | 75,335 |  |  | 140,871 |  |  | 1,167,859 |  |  | 1,290,047 |  |  | 517,017 |  |  | 1,327,397 |  |  | 769,157 |  |  | 5,287,683 |
Commercial real estate - owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 82,104 |  |  | 62,799 |  |  | 140,578 |  |  | 90,720 |  |  | 40,746 |  |  | 442,685 |  |  | 31,776 |  |  | 891,408 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,918 |  |  | — |  |  | 2,918 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 256 |  |  | 7,503 |  |  | 134 |  |  | 7,893 |
Total commercial real estate - owner occupied |  | 82,104 |  |  | 62,799 |  |  | 140,578 |  |  | 90,720 |  |  | 41,002 |  |  | 453,106 |  |  | 31,910 |  |  | 902,219 |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 81,867 |  |  | 30,084 |  |  | 35,469 |  |  | 14,276 |  |  | 3,873 |  |  | 180,695 |  |  | 278,217 |  |  | 624,481 |
Special Mention |  | — |  |  | 4,735 |  |  | — |  |  | — |  |  | 235 |  |  | 16 |  |  | 96 |  |  | 5,082 |
Substandard |  | — |  |  | 4,326 |  |  | 1,019 |  |  | 749 |  |  | — |  |  | 256 |  |  | 12,032 |  |  | 18,382 |
Total commercial and industrial |  | 81,867 |  |  | 39,145 |  |  | 36,488 |  |  | 15,025 |  |  | 4,108 |  |  | 180,967 |  |  | 290,345 |  |  | 647,945 |
Residential real estate (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 277,009 |  |  | 270,225 |  |  | 547,093 |  |  | 796,790 |  |  | 366,649 |  |  | 783,204 |  |  | — |  |  | 3,040,970 |
Special Mention |  | — |  |  | 92 |  |  | 224 |  |  | 449 |  |  | — |  |  | 1,476 |  |  | — |  |  | 2,241 |
Substandard |  | 215 |  |  | 415 |  |  | 1,583 |  |  | 445 |  |  | — |  |  | 3,894 |  |  | — |  |  | 6,552 |
Total residential real estate |  | 277,224 |  |  | 270,732 |  |  | 548,900 |  |  | 797,684 |  |  | 366,649 |  |  | 788,574 |  |  | — |  |  | 3,049,763 |
Other consumer (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 27,316 |  |  | 27,596 |  |  | 17,029 |  |  | 16,511 |  |  | 10,694 |  |  | 107,045 |  |  | 21,991 |  |  | 228,182 |
Special Mention |  | — |  |  | — |  |  | — |  |  | 62 |  |  | — |  |  | 219 |  |  | — |  |  | 281 |
Substandard |  | — |  |  | 97 |  |  | 18 |  |  | 343 |  |  | — |  |  | 1,541 |  |  | — |  |  | 1,999 |
Total other consumer |  | 27,316 |  |  | 27,693 |  |  | 17,047 |  |  | 16,916 |  |  | 10,694 |  |  | 108,805 |  |  | 21,991 |  |  | 230,462 |
Total loans |  | $ | 543,846 |  |  | $ | 541,240 |  |  | $ | 1,910,872 |  |  | $ | 2,210,392 |  |  | $ | 939,470 |  |  | $ | 2,858,849 |  |  | $ | 1,113,403 |  |  | $ | 10,118,072 |
(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity.
|  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 and prior |  | Revolving lines of credit |  | Total
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate - investor |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 137,028 |  |  | $ | 1,165,955 |  |  | $ | 1,328,012 |  |  | $ | 529,745 |  |  | $ | 490,438 |  |  | $ | 930,337 |  |  | $ | 679,804 |  |  | $ | 5,261,319 |
Special Mention |  | — |  |  | — |  |  | 2,413 |  |  | 790 |  |  | 1,446 |  |  | 22,147 |  |  | — |  |  | 26,796 |
Substandard |  | — |  |  | — |  |  | 648 |  |  | 3,750 |  |  | 13,275 |  |  | 48,186 |  |  | — |  |  | 65,859 |
Total commercial real estate - investor |  | 137,028 |  |  | 1,165,955 |  |  | 1,331,073 |  |  | 534,285 |  |  | 505,159 |  |  | 1,000,670 |  |  | 679,804 |  |  | 5,353,974 |
Commercial real estate - owner occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 66,642 |  |  | 120,280 |  |  | 103,104 |  |  | 59,179 |  |  | 102,703 |  |  | 441,713 |  |  | 21,052 |  |  | 914,673 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,272 |  |  | 8,314 |  |  | — |  |  | 9,586 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,019 |  |  | 16,900 |  |  | 713 |  |  | 19,632 |
Total commercial real estate - owner occupied |  | 66,642 |  |  | 120,280 |  |  | 103,104 |  |  | 59,179 |  |  | 105,994 |  |  | 466,927 |  |  | 21,765 |  |  | 943,891 |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 112,914 |  |  | 64,770 |  |  | 19,473 |  |  | 8,645 |  |  | 7,778 |  |  | 51,082 |  |  | 383,013 |  |  | 647,675 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 184 |  |  | 2,859 |  |  | 3,043 |
Substandard |  | — |  |  | 622 |  |  | 117 |  |  | — |  |  | 145 |  |  | 1,385 |  |  | 13,545 |  |  | 15,814 |
Total commercial and industrial |  | 112,914 |  |  | 65,392 |  |  | 19,590 |  |  | 8,645 |  |  | 7,923 |  |  | 52,651 |  |  | 399,417 |  |  | 666,532 |
Residential real estate (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 283,296 |  |  | 916,153 |  |  | 564,515 |  |  | 388,392 |  |  | 223,247 |  |  | 600,118 |  |  | — |  |  | 2,975,721 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | 131 |  |  | 271 |  |  | — |  |  | 402 |
Substandard |  | 323 |  |  | 366 |  |  | — |  |  | 258 |  |  | 487 |  |  | 1,977 |  |  | — |  |  | 3,411 |
Total residential real estate |  | 283,619 |  |  | 916,519 |  |  | 564,515 |  |  | 388,650 |  |  | 223,865 |  |  | 602,366 |  |  | — |  |  | 2,979,534 |
Other consumer (1) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 32,859 |  |  | 19,918 |  |  | 20,737 |  |  | 12,675 |  |  | 12,937 |  |  | 118,486 |  |  | 30,658 |  |  | 248,270 |
Special Mention |  | — |  |  | 172 |  |  | — |  |  | — |  |  | — |  |  | 386 |  |  | — |  |  | 558 |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | 1,698 |  |  | 132 |  |  | 1,836 |
Total other consumer |  | 32,859 |  |  | 20,090 |  |  | 20,737 |  |  | 12,675 |  |  | 12,943 |  |  | 120,570 |  |  | 30,790 |  |  | 250,664 |
Total loans |  | $ | 633,062 |  |  | $ | 2,288,236 |  |  | $ | 2,039,019 |  |  | $ | 1,003,434 |  |  | $ | 855,884 |  |  | $ | 2,243,184 |  |  | $ | 1,131,776 |  |  | $ | 10,194,595 |
(1)For residential real estate and other consumer loans, the Company evaluates credit quality based on the aging status of the loan and by payment activity. An analysis of the allowance for credit losses on loans for the years ended December 31, 2024 and 2023 was as follows (in thousands):
|  | Commercial Real Estate - Investor |  | Commercial Real Estate - Owner Occupied |  | Commercial and Industrial |  | Residential Real Estate |  | Other Consumer |  |  |  | Total
For the Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  | $ | 27,899 |  |  | $ | 4,354 |  |  | $ | 6,867 |  |  | $ | 27,029 |  |  | $ | 988 |  |  |  |  | $ | 67,137 |
Initial allowance on acquired loans from Spring Garden |  | 2,547 |  |  | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 2,547 |
Provision (benefit) for credit losses |  | 1,774 |  |  | (569) |  |  | 3,586 |  |  | 428 |  |  | 259 |  |  |  |  | 5,478 |
Charge-offs |  | (1,659) |  |  | — |  |  | — |  |  | (76) |  |  | (485) |  |  |  |  | (2,220) |
Recoveries |  | 219 |  |  | 32 |  |  | 18 |  |  | 206 |  |  | 190 |  |  |  |  | 665 |
Balance at end of year |  | $ | 30,780 |  |  | $ | 3,817 |  |  | $ | 10,471 |  |  | $ | 27,587 |  |  | $ | 952 |  |  |  |  | $ | 73,607 |
For the Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |
Balance at beginning of year |  | $ | 21,070 |  |  | $ | 4,423 |  |  | $ | 5,695 |  |  | $ | 24,530 |  |  | $ | 1,106 |  |  |  |  | $ | 56,824 |
Provision (benefit) for credit losses |  | 15,173 |  |  | (77) |  |  | 1,276 |  |  | 2,456 |  |  | (133) |  |  |  |  | 18,695 |
Charge-offs |  | (8,350) |  |  | (6) |  |  | (129) |  |  | — |  |  | (208) |  |  |  |  | (8,693) |
Recoveries |  | 6 |  |  | 14 |  |  | 25 |  |  | 43 |  |  | 223 |  |  |  |  | 311 |
Balance at end of year |  | $ | 27,899 |  |  | $ | 4,354 |  |  | $ | 6,867 |  |  | $ | 27,029 |  |  | $ | 988 |  |  |  |  | $ | 67,137 |
The following tables summarize gross charge-offs by vintage (in thousands):
|  |  |  | 2023 |  | 2022 |  | 2021 |  |  |  | 2019 and prior |  | Total
For the Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor (1) |  |  |  | $ | — |  |  | $ | (13) |  |  | $ | (46) |  |  |  |  | $ | (1,600) |  |  | $ | (1,659) |
Residential real estate |  |  |  | (33) |  |  | (41) |  |  | — |  |  |  |  | (2) |  |  | (76) |
Other consumer |  |  |  | — |  |  | — |  |  | — |  |  |  |  | (485) |  |  | (485) |
Total charge-offs |  |  |  | $ | (33) |  |  | $ | (54) |  |  | $ | (46) |  |  |  |  | $ | (2,087) |  |  | $ | (2,220) |
|  |  |  |  |  |  |  |  |  | 2019 |  | 2018 and prior |  | Total
For the Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor (1) |  |  |  |  |  |  |  |  |  | $ | (8,350) |  |  | $ | — |  |  | $ | (8,350) |
Commercial real estate – owner occupied |  |  |  |  |  |  |  |  |  | — |  |  | (6) |  |  | (6) |
Commercial and industrial |  |  |  |  |  |  |  |  |  | — |  |  | (129) |  |  | (129) |
Other consumer |  |  |  |  |  |  |  |  |  | — |  |  | (208) |  |  | (208) |
Total charge-offs |  |  |  |  |  |  |  |  |  | $ | (8,350) |  |  | $ | (343) |  |  | $ | (8,693) |
(1) Gross charge-offs of $1.7 million and $8.4 million primarily related to a single commercial relationship which had partial charge-offs during the year ended December 31, 2024 and 2023, respectively. This was resolved via sale of collateral during 2024. A loan is considered collateral dependent when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral and, therefore, is classified as non-accruing. At December 31, 2024 and 2023, the Company had collateral dependent loans with an amortized cost balance as follows: commercial real estate - investor of $11.8 million and $15.2 million, respectively, commercial real estate - owner occupied of $4.8 million and $352,000, respectively, and commercial and industrial of $32,000 and $304,000, respectively. In addition, the Company had collateral dependent residential and consumer loans with an amortized cost balance of $8.6 million and $2.6 million at December 31, 2024 and 2023, respectively. The following table presents the recorded investment in non-accrual loans, by loan portfolio segment as of December 31, 2024 and 2023 (in thousands):
|  | December 31,
|  | 2024 |  | 2023
Commercial real estate – investor (1) (2) |  | $ | 17,000 |  |  | $ | 20,820 |
Commercial real estate – owner occupied |  | 4,787 |  |  | 351 |
Commercial and industrial |  | 32 |  |  | 304 |
Residential real estate |  | 10,644 |  |  | 5,542 |
Other consumer |  | 3,064 |  |  | 2,531 |
|  | $ | 35,527 |  |  | $ | 29,548 |
(1) December 31, 2024 includes the addition of $4.8 million non-accrual loans related to the acquisition of Spring Garden. (2) December 31, 2023 includes the exposure of $8.4 million of the single commercial real estate relationship resolved during 2024. At December 31, 2024 and 2023, non-accrual loans were included in the allowance for credit loss calculation and the Company did not recognize or accrue interest income on these loans. At December 31, 2024 and 2023, there were no loans that were past due 90 days or greater and still accruing interest. The following table presents the aging of the recorded investment in past due loans as of December 31, 2024 and 2023 by loan portfolio segment (in thousands):
|  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90 Days or Greater Past Due |  | Total Past Due |  | Loans Not Past Due |  | Total
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor (1) |  | $ | 4,624 |  |  | $ | 8,880 |  |  | $ | 10,877 |  |  | $ | 24,381 |  |  | $ | 5,263,302 |  |  | $ | 5,287,683 |
Commercial real estate – owner occupied |  | 941 |  |  | — |  |  | 1,392 |  |  | 2,333 |  |  | 899,886 |  |  | 902,219 |
Commercial and industrial |  | 3 |  |  | — |  |  | 16 |  |  | 19 |  |  | 647,926 |  |  | 647,945 |
Residential real estate |  | 18,518 |  |  | 2,242 |  |  | 6,551 |  |  | 27,311 |  |  | 3,022,452 |  |  | 3,049,763 |
Other consumer |  | 1,060 |  |  | 282 |  |  | 1,999 |  |  | 3,341 |  |  | 227,121 |  |  | 230,462 |
|  | $ | 25,146 |  |  | $ | 11,404 |  |  | $ | 20,835 |  |  | $ | 57,385 |  |  | $ | 10,060,687 |  |  | $ | 10,118,072 |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor (2) |  | $ | 978 |  |  | $ | 684 |  |  | $ | 15,201 |  |  | $ | 16,863 |  |  | $ | 5,337,111 |  |  | $ | 5,353,974 |
Commercial real estate – owner occupied |  | 335 |  |  | 352 |  |  | 293 |  |  | 980 |  |  | 942,911 |  |  | 943,891 |
Commercial and industrial |  | 163 |  |  | — |  |  | 145 |  |  | 308 |  |  | 666,224 |  |  | 666,532 |
Residential real estate |  | 14,858 |  |  | 402 |  |  | 3,411 |  |  | 18,671 |  |  | 2,960,863 |  |  | 2,979,534 |
Other consumer |  | 872 |  |  | 558 |  |  | 1,836 |  |  | 3,266 |  |  | 247,398 |  |  | 250,664 |
|  | $ | 17,206 |  |  | $ | 1,996 |  |  | $ | 20,886 |  |  | $ | 40,088 |  |  | $ | 10,154,507 |  |  | $ | 10,194,595 |
(1) December 31, 2024 includes the addition of $7.4 million past due loans related to the acquisition of Spring Garden. (2) December 31, 2023 includes the exposure of $8.4 million of the single commercial real estate relationship resolved during 2024. Loan Modifications to Borrowers Experiencing Financial Difficulty The Company adopted ASU 2022-02 on January 1, 2023. Since adoption, the Company has modified and may modify in the future certain loans to borrowers experiencing financial difficulty. These modifications may include a reduction in interest rate, an extension in term, principal forgiveness and/or other than insignificant payment delay. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is charged off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount, and the allowance for credit losses is subsequently adjusted by an amount equal to the total loss rate as applied to the reduced amortized cost basis. As of December 31, 2024 and 2023, loans with modifications to borrowers experiencing financial difficulty totaled $30.9 million and $8.9 million, respectively. There were no outstanding commitments to lend additional funds to such borrowers with loan modifications as of December 31, 2024 or December 31, 2023. The following table presents loans modifications made to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023 (in thousands):
|  | Term Extension |  | Interest Rate Reduction |  | Combination of Term Extension and Interest Rate Reduction |  | Other Than Insignificant Payment Delay |  | Combination of Term Extension, Interest Rate Reduction and Other Than Insignificant Payment Delay |  | Total |  | % of Total by Loan Portfolio Segment
For the Year Ended December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | — |  |  | $ | 4,858 |  |  | $ | 7,000 |  |  | $ | 5,685 |  |  | $ | 1,604 |  |  | $ | 19,147 |  |  | 0.36 | %
Commercial real estate – owner occupied |  | — |  |  | — |  |  | — |  |  | 2,822 |  |  | — |  |  | 2,822 |  |  | 0.31 |
Residential real estate |  | 128 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 128 |  |  | — |
Other consumer |  | — |  |  | — |  |  | 146 |  |  | — |  |  | — |  |  | 146 |  |  | 0.06 |
|  | $ | 128 |  |  | $ | 4,858 |  |  | $ | 7,146 |  |  | $ | 8,507 |  |  | $ | 1,604 |  |  | $ | 22,243 |  |  | 0.22 | %
For the Year Ended December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | — |  |  | $ | — |  |  | $ | 7,759 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,759 |  |  | 0.14 | %
Residential real estate |  | 715 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 715 |  |  | 0.02 |
Other consumer |  | 275 |  |  | — |  |  | 196 |  |  | — |  |  | — |  |  | 471 |  |  | 0.19 |
|  | $ | 990 |  |  | $ | — |  |  | $ | 7,955 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,945 |  |  | 0.09 | %
The modifications during the periods presented had an insignificant financial effect on the Company. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table provides the performance of loans modified to borrowers experiencing financial difficulty during the twelve months ended December 31, 2024 and since adoption of the standard for December 31, 2023 (in thousands):
|  | Current |  | 60 - 89 Days Past Due |  | 90 Days or Greater Past Due |  | Total
December 31, 2024 |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | 19,147 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,147 |
Commercial real estate – owner occupied |  | 2,822 |  |  | — |  |  | — |  |  | 2,822 |
Residential real estate |  | — |  |  | — |  |  | 128 |  | (1) | 128 |
Other consumer |  | — |  |  | — |  |  | 146 |  | (1) | 146 |
|  | $ | 21,969 |  |  | $ | — |  |  | $ | 274 |  |  | $ | 22,243 |
December 31, 2023 |  |  |  |  |  |  |  |
Commercial real estate – investor |  | $ | 7,759 |  |  | $ | — |  |  | $ | — |  |  | $ | 7,759 |
Residential real estate |  | 419 |  |  | 156 |  |  | 140 |  | (2) | 715 |
Other consumer |  | 471 |  |  | — |  |  | — |  |  | 471 |
|  | $ | 8,649 |  |  | $ | 156 |  |  | $ | 140 |  |  | $ | 8,945 |
(1) Represents one residential loan and one other consumer loan that defaulted during the year ended December 31, 2024, which had been modified within the last 12 months. (2) Represents one residential loan that defaulted during the year ended December 31, 2023, which had been modified since the adoption of the standard.

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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- References No definition available. + Details
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Balance Type: | na
Period Type: | duration