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Loans and Allowance for Credit Losses on Loans (Tables)

12 Months Ended

Dec. 31, 2024

Loans and Allowance for Credit Losses on Loans

Schedule of major classifications of loans


	December 31, 2024		December 31, 2023
Commercial	$	800,476	$	841,697
Leases		491,748		398,223
Commercial real estate – investor		1,078,829		1,034,424
Commercial real estate – owner occupied		683,283		796,538
Construction		201,716		165,380
Residential real estate – investor		49,598		52,595
Residential real estate – owner occupied		206,949		226,248
Multifamily		351,325		401,696
HELOC		103,388		103,237
Other ¹		14,024		22,915
Total loans		3,981,336		4,042,953
Allowance for credit losses on loans		(43,619)		(44,264)
Net loans ²	$	3,937,717	$	3,998,689

¹ Unless otherwise noted, the “Other” segment includes consumer loans and overdrafts in this table and in subsequent tables within Note 5 - Loans and Allowance for Credit Losses on Loans.

² Excludes accrued interest receivable of $17.5 million and $20.5 million at December 31, 2024 and December 31, 2023, respectively, which is recorded in other assets on the Consolidated Balance Sheets.

Schedule of changes in the allowance for loan losses by segment of loans based on method of impairment

The following tables represent the activity in the ACL for loans for the years ended December 31, 2024, 2023 and 2022:



	Beginning		Provision for						Ending
	Balance		(Release of)						Balance
Allowance for credit losses	January 1, 2024		Credit Losses		Charge-offs		Recoveries		December 31, 2024

Commercial	$	3,998	$	12,352	$	8,686	$	149	$	7,813
Leases		2,952		(770)		149		103		2,136
Commercial real estate – investor		17,105		1,594		4,596		425		14,528
Commercial real estate – owner occupied		12,280		(997)		5,154		3,907		10,036
Construction		1,038		2,543		-		-		3,581
Residential real estate – investor		669		(141)		-		25		553
Residential real estate – owner occupied		1,821		(106)		242		36		1,509
Multifamily		2,728		(852)		-		-		1,876
HELOC		1,656		(169)		-		91		1,578
Other		17		130		284		146		9
Total	$	44,264	$	13,584	$	19,111	$	4,882	$	43,619



	Beginning		Provision for							Ending
Allowance for credit losses	Balance		(Release of)							Balance
	January 1, 2023		Credit Losses		Charge-offs		Recoveries			December 31, 2023

Commercial	$	11,968	$	(7,717)	$	885	$	632	$	3,998
Leases		2,865		850		882		119		2,952
Commercial real estate – investor		10,674		18,170		11,816		77		17,105
Commercial real estate – owner occupied		15,001		7,941		10,691		29		12,280
Construction		1,546		(608)		-		100		1,038
Residential real estate – investor		768		(129)		-		30		669
Residential real estate – owner occupied		2,046		(304)		-		79		1,821
Multifamily		2,453		275		-		-		2,728
HELOC		1,806		(255)		-		105		1,656
Other		353		(137)		368		169		17
Total	$	49,480	$	18,086	$	24,642	$	1,340	$	44,264


	Beginning		Provision for							Ending
Allowance for credit losses	Balance		(Release of)							Balance
	January 1, 2022		Credit Losses		Charge-offs		Recoveries			December 31, 2022

Commercial	$	11,751	$	273	$	151	$	95	$	11,968
Leases		3,480		(246)		371		2		2,865
Commercial real estate – investor		10,795		1,199		1,401		81		10,674
Commercial real estate – owner occupied		4,913		10,117		133		104		15,001
Construction		3,373		(1,827)		-		-		1,546
Residential real estate – investor		760		(22)		-		30		768
Residential real estate – owner occupied		2,832		(1,010)		2		226		2,046
Multifamily		3,675		(1,285)		-		63		2,453
HELOC		2,510		(844)		-		140		1,806
Other		192		395		402		168		353
Total	$	44,281	$	6,750	$	2,460	$	909	$	49,480

Schedule of collateral dependent loans and related loan allowances.


			Accounts								ACL
December 31, 2024	Real Estate		Receivable		Equipment		Other		Total		Allocation
Commercial	$	-	$	6,491	$	-	$	-	$	6,491	$	2,448
Leases		-		-		-		-		-		-
Commercial real estate – investor		1,644		-		-		-		1,644		-
Commercial real estate – owner occupied		10,018		-		-		-		10,018		3,951
Construction		5,800		-		-		-		5,800		792
Residential real estate – investor		404		-		-		-		404		-
Residential real estate – owner occupied		1,056		-		-		-		1,056		-
Multifamily		836		-		-		-		836		-
HELOC		-		-		-		-		-		-
Other		-		-		-		-		-		-
Total	$	19,758	$	6,491	$	-	$	-	$	26,249	$	7,191






			Accounts								ACL
December 31, 2023	Real Estate		Receivable		Equipment		Other		Total		Allocation
Commercial	$	837	$	797	$	-	$	-	$	1,634	$	2
Leases		-		-		321		-		321		320
Commercial real estate – investor		15,735		-		-		-		15,735		3,656
Commercial real estate – owner occupied		34,894		-		-		-		34,894		3,900
Construction		7,162		-		-		-		7,162		-
Residential real estate – investor		422		-		-		-		422		-
Residential real estate – owner occupied		1,506		-		-		-		1,506		-
Multifamily		1,402		-		-		-		1,402		-
HELOC		39		-		-		-		39		-
Other		-		-		-		-		-		-
Total	$	61,997	$	797	$	321	$	-	$	63,115	$	7,878

Schedule of aged analysis of past due loans by class of loans


													90 days or
					90 Days or								Greater Past
	30-59 Days		60-89 Days		Greater Past		Total Past						Due and
December 31, 2024	Past Due		Past Due		Due		Due		Current		Total Loans		Accruing
Commercial	$	219	$	95	$	6,963	$	7,277	$	793,199	$	800,476	$	1,397
Leases		1,438		372		352		2,162		489,586		491,748		-
Commercial real estate – investor		2,021		402		-		2,423		1,076,406		1,078,829		-
Commercial real estate – owner occupied		1,123		2,479		43		3,645		679,638		683,283		-
Construction		-		-		5,799		5,799		195,917		201,716		-
Residential real estate – investor		763		-		439		1,202		48,396		49,598		-
Residential real estate – owner occupied		2,489		90		509		3,088		203,861		206,949		-
Multifamily		-		233		1,040		1,273		350,052		351,325		-
HELOC		109		74		202		385		103,003		103,388		39
Other		13		10		-		23		14,001		14,024		-
Total	$	8,175	$	3,755	$	15,347	$	27,277	$	3,954,059	$	3,981,336	$	1,436


													90 days or
					90 Days or								Greater Past
	30-59 Days		60-89 Days		Greater Past		Total Past						Due and
December 31, 2023	Past Due		Past Due		Due		Due		Current		Total Loans		Accruing
Commercial	$	982	$	-	$	1,228	$	2,210	$	839,487	$	841,697	$	1,155
Leases		599		-		347		946		397,277		398,223		-
Commercial real estate – investor		1,209		-		6,087		7,296		1,027,128		1,034,424		-
Commercial real estate – owner occupied		2,103		3,726		15,645		21,474		775,064		796,538		-
Construction		2,540		307		7,161		10,008		155,372		165,380		-
Residential real estate – investor		540		579		168		1,287		51,308		52,595		-
Residential real estate – owner occupied		553		125		1,944		2,622		223,626		226,248		-
Multifamily		1,085		-		233		1,318		400,378		401,696		-
HELOC		565		1,396		269		2,230		101,007		103,237		41
Other		-		1		-		1		22,914		22,915		-
Total	$	10,176	$	6,134	$	33,082	$	49,392	$	3,993,561	$	4,042,953	$	1,196

Schedule of loans on nonaccrual for which there was no related allowance


Nonaccrual loan detail	December 31, 2024		With no ACL		December 31, 2023		With no ACL
Commercial	$	5,591	$	497	$	870	$	870
Leases		523		523		639		318
Commercial real estate – investor		1,981		1,981		16,572		8,926
Commercial real estate – owner occupied		10,604		1,407		34,946		8,429
Construction		5,800		-		7,162		7,162
Residential real estate – investor		1,158		1,158		1,331		1,331
Residential real estate – owner occupied		1,653		1,653		3,078		3,078
Multifamily		1,165		1,165		1,775		1,775
HELOC		366		366		1,210		1,210
Other		10		10		-		-
Total	$	28,851	$	8,760	$	67,583	$	33,099

Schedule of credit quality indicators by class of loans

Credit quality indicators by class of loans as of December 31, 2024 were as follows in the vintage table below:


	2024		2023		2022		2021		2020		Prior		Revolving Loans		Revolving Loans Converted To Term Loans		Total
Commercial
Pass	$	299,863	$	176,549	$	56,619	$	18,679	$	4,999	$	6,527	$	201,514	$	1,279	$	766,029
Special Mention		3,864		1,629		127		176		-		-		3,903		-		9,699
Substandard		-		14		4,169		77		-		-		19,102		-		23,362
Doubtful		-		-		-		1,386		-		-		-		-		1,386
Total commercial		303,727		178,192		60,915		20,318		4,999		6,527		224,519		1,279		800,476

Leases
Pass		239,664		151,372	$	66,379		24,546		6,145		2,298		-		-		490,404
Special Mention		-		-		821		-		-		-		-		-		821
Substandard		-		-		523		-		-		-		-		-		523
Total leases		239,664		151,372		67,723		24,546		6,145		2,298		-		-		491,748

Commercial real estate – investor
Pass		243,983		159,008		305,506		191,651		90,245		67,143		6,804		-		1,064,340
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		335		1,645		-		-		-		12,509		-		-		14,489
Total commercial real estate – investor		244,318		160,653		305,506		191,651		90,245		79,652		6,804		-		1,078,829

Commercial real estate – owner occupied
Pass		91,012		114,255		133,488		121,652		77,919		82,820		14,284		-		635,430
Special Mention		-		1,162		7,908		7,500		3,033		631		-		-		20,234
Substandard		-		125		1,168		11,241		9,897		5,188		-		-		27,619
Total commercial real estate – owner occupied		91,012		115,542		142,564		140,393		90,849		88,639		14,284		-		683,283

Construction
Pass		44,699		27,928		83,222		17,747		82		1,081		468		-		175,227
Special Mention		-		-		6,794		-		-		344		-		-		7,138
Substandard		-		-		19,351		-		-		-		-		-		19,351
Total construction		44,699		27,928		109,367		17,747		82		1,425		468		-		201,716

Residential real estate – investor
Pass		5,595		3,833		13,366		8,060		5,693		9,813		1,548		-		47,908
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		375		532		-		783		-		-		1,690
Total residential real estate – investor		5,595		3,833		13,741		8,592		5,693		10,596		1,548		-		49,598

Residential real estate – owner occupied
Pass		11,609		29,670		35,786		32,760		22,996		71,507		770		-		205,098
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		151		-		1,700		-		-		1,851
Total residential real estate – owner occupied		11,609		29,670		35,786		32,911		22,996		73,207		770		-		206,949

Multifamily
Pass		39,133		68,781		68,032		100,049		29,060		44,735		370		-		350,160
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		962		-		203		-		-		-		1,165
Total multifamily		39,133		68,781		68,994		100,049		29,263		44,735		370		-		351,325

HELOC
Pass		2,602		2,561		2,118		383		1,383		3,752		90,042		-		102,841
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		39		214		294		-		547
Total HELOC		2,602		2,561		2,118		383		1,422		3,966		90,336		-		103,388

Other
Pass		6,521		1,559		1,438		639		92		7		3,758				14,014
Special Mention		-		-		-		-		-		-		-				-
Substandard		-		5		5		-		-		-		-				10
Total other		6,521		1,564		1,443		639		92		7		3,758		-		14,024

Total loans
Pass		984,681		735,516		765,954		516,166		238,614		289,683		319,558		1,279		3,851,451
Special Mention		3,864		2,791		15,650		7,676		3,033		975		3,903		-		37,892
Substandard		335		1,789		26,553		12,001		10,139		20,394		19,396		-		90,607
Doubtful		-		-		-		1,386		-		-		-		-		1,386
Total loans	$	988,880	$	740,096	$	808,157	$	537,229	$	251,786	$	311,052	$	342,857	$	1,279	$	3,981,336

Credit quality indicators by class of loans as of December 31, 2023 were as follows in the vintage table below:


	2023		2022		2021		2020		2019		Prior		Revolving Loans		Revolving Loans Converted To Term Loans		Total
Commercial
Pass	$	318,569	$	136,668	$	35,901	$	11,983	$	18,390	$	3,426	$	298,931	$	1,408	$	825,276
Special Mention		-		2,737		707		171		-		-		4,392		-		8,007
Substandard		-		2,099		146		-		199		-		5,970		-		8,414
Total commercial		318,569		141,504		36,754		12,154		18,589		3,426		309,293		1,408		841,697

Leases
Pass		219,163		113,074	$	42,275		14,663		6,975		1,255		-		-		397,405
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		407		203		-		208		-		-		-		818
Total leases		219,163		113,481		42,478		14,663		7,183		1,255		-		-		398,223

Commercial real estate – investor
Pass		159,654		367,512		218,084		108,384		54,322		63,281		8,122		-		979,359
Special Mention		-		-		11,267		-		-		-		-		-		11,267
Substandard		-		-		838		5,327		15,658		9,648		12,327		-		43,798
Total commercial real estate – investor		159,654		367,512		230,189		113,711		69,980		72,929		20,449		-		1,034,424

Commercial real estate – owner occupied
Pass		124,059		134,383		177,553		103,109		42,839		91,062		33,243		-		706,248
Special Mention		1,650		17,415		9,585		3,128		218		3,681		-		-		35,677
Substandard		-		14,630		18,817		4,571		14,809		1,786		-		-		54,613
Total commercial real estate – owner occupied		125,709		166,428		205,955		110,808		57,866		96,529		33,243		-		796,538

Construction
Pass		42,808		66,513		32,942		100		1,593		1,083		3,186		-		148,225
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		9,993		-		7,162		-		-		17,155
Total construction		42,808		66,513		32,942		10,093		1,593		8,245		3,186		-		165,380

Residential real estate – investor
Pass		5,062		14,434		9,027		6,227		6,508		8,469		1,471		-		51,198
Special Mention		-		-		66		-		-		-		-		-		66
Substandard		-		390		-		-		408		533		-		-		1,331
Total residential real estate – investor		5,062		14,824		9,093		6,227		6,916		9,002		1,471		-		52,595

Residential real estate – owner occupied
Pass		32,574		41,528		40,335		25,322		14,233		68,277		763		-		223,032
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		191		685		2,340		-		-		3,216
Total residential real estate – owner occupied		32,574		41,528		40,335		25,513		14,918		70,617		763		-		226,248

Multifamily
Pass		55,310		79,060		123,834		72,539		12,231		40,825		562		-		384,361
Special Mention		-		168		13,425		322		1,645		-		-		-		15,560
Substandard		-		1,009		-		-		-		766		-		-		1,775
Total multifamily		55,310		80,237		137,259		72,861		13,876		41,591		562		-		401,696

HELOC
Pass		2,735		2,679		490		1,757		1,756		2,995		89,161		-		101,573
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		25		1		41		24		184		1,389		-		1,664
Total HELOC		2,735		2,704		491		1,798		1,780		3,179		90,550		-		103,237

Other
Pass		4,060		2,278		1,569		153		85		73		14,697		-		22,915
Special Mention		-		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-		-
Total other		4,060		2,278		1,569		153		85		73		14,697		-		22,915

Total loans
Pass		963,994		958,129		682,010		344,237		158,932		280,746		450,136		1,408		3,839,592
Special Mention		1,650		20,320		35,050		3,621		1,863		3,681		4,392		-		70,577
Substandard		-		18,560		20,005		20,123		31,991		22,419		19,686		-		132,784
Total loans	$	965,644	$	997,009	$	737,065	$	367,981	$	192,786	$	306,846	$	474,214	$	1,408	$	4,042,953

Schedule of gross charge-offs


December 31, 2024	2024		2023		2022		2021		2020		Prior		Total
Commercial	$	31	$	7,205	$	756	$	670	$	-	$	24	$	8,686
Leases		-		-		96		53		-		-		149
Commercial real estate – investor		-		-		4,128		452		16		-		4,596
Commercial real estate – owner occupied		-				-		5,135		-		19		5,154
Construction		-		-		-		-		-		-		-
Residential real estate – investor		-		-		-		-		-		-		-
Residential real estate – owner occupied		-		-		-		-		-		242		242
Multifamily		-		-		-		-		-		-		-
HELOC		-		-		-		-		-		-		-
Other		5		-		-		-		-		279		284
Total	$	36	$	7,205	$	4,980	$	6,310	$	16	$	564	$	19,111


December 31, 2023	2023		2022		2021		2020		2019		Prior		Total
Commercial	$	-	$	-	$	466	$	364	$	-	$	55	$	885
Leases		-		870		-		-		12		-		882
Commercial real estate – investor		123		8,352		71		3,270		-		-		11,816
Commercial real estate – owner occupied		-		22		178		6,947		3,512		32		10,691
Construction		-		-		-		-		-		-		-
Residential real estate – investor		-		-		-		-		-		-		-
Residential real estate – owner occupied		-		-		-		-		-		-		-
Multifamily		-		-		-		-		-		-		-
HELOC		-		-		-		-		-		-		-
Other		-		3		27		6		-		332		368
Total	$	123	$	9,247	$	742	$	10,587	$	3,524	$	419	$	24,642

Schedule of class of financing receivable


December 31, 2024	Term Extension		Combination - Term Extension, Interest Rate, and Payment Delay		Combination - Term Extension and Interest Rate		Combination - Term Extension and Payment ¹		Total Modifications		Total Class of Financing Receivable
Commercial	$	3,385	$	3,794	$	-	$	-	$	7,179	0.9%
Commercial real estate – investor		12,509		-		-		-		12,509	1.2%
Commercial real estate – owner occupied		22,210		415		3,206		209		26,040	3.8%
Residential real estate – owner occupied		-		-		-		-		-	0.0%
Multifamily		-		1,197		-		-		1,197	0.3%
HELOC		-		-		-		-		-	0.0%
Total	$	38,104	$	5,406	$	3,206	$	209	$	46,925	1.2%

¹ Payment modifications are either contractual delays in payment or a modification of the payment amount.


December 31, 2023	Term Extension		Combination - Term Extension, Interest Rate, and Payment Delay		Combination - Term Extension and Interest Rate		Combination - Term Extension and Payment ¹		Total Modifications		Total Class of Financing Receivable
Commercial	$	3,000	$	-	$	979	$	-	$	3,979	0.5%
Commercial real estate – investor		13,521		-		-		7,646		21,167	2.0%
Commercial real estate – owner occupied		16,082		-		-		-		16,082	2.0%
Residential real estate – owner occupied		119		-		-		-		119	0.1%
Multifamily		233		-		-		-		233	0.1%
HELOC		166		-		-		-		166	0.2%
Total	$	33,121	$	-	$	979	$	7,646	$	41,746	1.0%

¹ Payment modifications are either contractual delays in payment or a modification of the payment amount.


December 31, 2024	30-59 days past due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Modifications
Commercial	$	-	$	-	$	-	$	-	$	7,179	$	7,179
Commercial real estate – investor		-		-		-		-		12,509		12,509
Commercial real estate – owner occupied		-		-		-		-		26,040		26,040
Residential real estate – owner occupied		-		-		-		-		-		-
Multifamily		-		-		-		-		1,197		1,197
HELOC		-		-		-		-		-		-
Total	$	-	$	-	$	-	$	-	$	46,925	$	46,925


December 31, 2023	30-59 days past due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total Modifications
Commercial	$	-	$	-	$	979	$	979	$	3,000	$	3,979
Commercial real estate – investor		838		-		-		838		20,329		21,167
Commercial real estate – owner occupied		-		-		-		-		16,082		16,082
Residential real estate – owner occupied		-		-		-		-		119		119
Multifamily		-		-		233		233		-		233
HELOC		-		-		-		-		166		166
Total	$	838	$	-	$	1,212	$	2,050	$	39,696	$	41,746


December 31, 2024	Weighted-Average Term Extension (In Months)		Weighted-Average Interest Rate Change			Weighted-Average Delay of Payment (In Months)
Commercial		6.49		0.50	%		4.00
Commercial real estate – investor		6.00		-			-
Commercial real estate – owner occupied		8.59		0.15			-
Residential real estate – owner occupied		-		-			-
Multifamily		60.00		2.75			-
HELOC		-		-			-
Total		8.89		0.69	%		4.00


December 31, 2023	Weighted-Average Term Extension (In Months)		Weighted-Average Interest Rate Change			Weighted-Average Delay of Payment (In Months)
Commercial		8.31		5.00	%		-
Commercial real estate – investor		9.96		-			7.00
Commercial real estate – owner occupied		11.65		-			-
Residential real estate – owner occupied		39.00		-			-
Multifamily		21.00		-			-
HELOC		24.00		-			-
Total		10.65		5.00	%		7.00

Schedule of loans to principal officers, directors, and their affiliates, made in the ordinary course of business


	2024		2023
Beginning balance	$	-	$	8,483
New loans, including acquired related party loans		-		30
Repayments and other reductions		-		(30)
Change in related party status		-		(8,483)
Ending balance	$	-	$	-