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Loans Receivable (Tables) | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
Schedule of Loans Receivable, Amortized Cost by Portfolio Segment | The amortized cost of loans receivable, net of ACL on loans, consisted of the following portfolio segments and classes at the dates indicated:
| September 30, 2023 |  | December 31, 2022
| (Dollars in thousands)
Commercial business: |  |  |
Commercial and industrial | $ | 691,318 |  |  | $ | 693,568 |
Owner-occupied CRE | 953,779 |  |  | 937,040 |
Non-owner occupied CRE | 1,690,099 |  |  | 1,586,632 |
Total commercial business | 3,335,196 |  |  | 3,217,240 |
Residential real estate | 377,448 |  |  | 343,631 |
Real estate construction and land development: |  |  |
Residential | 70,804 |  |  | 80,074 |
Commercial and multifamily | 310,024 |  |  | 214,038 |
Total real estate construction and land development | 380,828 |  |  | 294,112 |
Consumer | 173,386 |  |  | 195,875 |
Loans receivable | 4,266,858 |  |  | 4,050,858 |
ACL on loans | (46,947) |  |  | (42,986) |
Loans receivable, net | $ | 4,219,911 |  |  | $ | 4,007,872 |
Balances included in the amortized cost of loans receivable: |  |  |
Unamortized net discount on acquired loans | $ | (2,036) |  |  | $ | (2,501) |
Unamortized net deferred fee | $ | (10,949) |  |  | $ | (10,016) |
Schedule of Loans Receivable, Amortized Cost, by Risk Grade, Origination Year and Gross Charge-Offs | The following tables present the amortized cost of loans receivable by risk grade and origination year, and the gross charge-offs by loan class and origination year, at the dates indicated. The Bank adopted the vintage disclosure requirements of ASU 2022-02 prospectively as described in Note 1 beginning January 1, 2023.
| September 30, 2023 |  | Revolving Loans |  | Revolving Loans Converted(1) |  | Loans Receivable
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
| (Dollars in thousands)
Commercial business:
Commercial and industrial
Pass | $ | 72,204 |  |  | $ | 157,851 |  |  | $ | 80,225 |  |  | $ | 72,575 |  |  | $ | 44,139 |  |  | $ | 87,318 |  |  | $ | 141,690 |  |  | $ | 290 |  |  | $ | 656,292 |
SM | — |  |  | 201 |  |  | 254 |  |  | 1,748 |  |  | 4,413 |  |  | 3,911 |  |  | 846 |  |  | — |  |  | 11,373 |
SS | — |  |  | 1,239 |  |  | 2,667 |  |  | 1,541 |  |  | 1,220 |  |  | 5,137 |  |  | 11,849 |  |  | — |  |  | 23,653 |
Total | 72,204 |  |  | 159,291 |  |  | 83,146 |  |  | 75,864 |  |  | 49,772 |  |  | 96,366 |  |  | 154,385 |  |  | 290 |  |  | 691,318 |
Owner-occupied CRE
Pass | 67,181 |  |  | 139,102 |  |  | 161,632 |  |  | 84,403 |  |  | 149,576 |  |  | 311,216 |  |  | — |  |  | — |  |  | 913,110 |
SM | — |  |  | — |  |  | 3,565 |  |  | 2,012 |  |  | 710 |  |  | 16,108 |  |  | — |  |  | — |  |  | 22,395 |
SS | — |  |  | — |  |  | 3,090 |  |  | 658 |  |  | — |  |  | 14,526 |  |  | — |  |  | — |  |  | 18,274 |
Total | 67,181 |  |  | 139,102 |  |  | 168,287 |  |  | 87,073 |  |  | 150,286 |  |  | 341,850 |  |  | — |  |  | — |  |  | 953,779 |
Non-owner occupied CRE
Pass | 137,013 |  |  | 260,502 |  |  | 206,919 |  |  | 154,132 |  |  | 242,200 |  |  | 647,754 |  |  | — |  |  | — |  |  | 1,648,520 |
SM | — |  |  | 601 |  |  | 8,217 |  |  | — |  |  | 575 |  |  | 19,479 |  |  | — |  |  | — |  |  | 28,872 |
SS | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12,707 |  |  | — |  |  | — |  |  | 12,707 |
Total | 137,013 |  |  | 261,103 |  |  | 215,136 |  |  | 154,132 |  |  | 242,775 |  |  | 679,940 |  |  | — |  |  | — |  |  | 1,690,099 |
Total commercial business
Pass | 276,398 |  |  | 557,455 |  |  | 448,776 |  |  | 311,110 |  |  | 435,915 |  |  | 1,046,288 |  |  | 141,690 |  |  | 290 |  |  | 3,217,922 |
SM | — |  |  | 802 |  |  | 12,036 |  |  | 3,760 |  |  | 5,698 |  |  | 39,498 |  |  | 846 |  |  | — |  |  | 62,640 |
SS | — |  |  | 1,239 |  |  | 5,757 |  |  | 2,199 |  |  | 1,220 |  |  | 32,370 |  |  | 11,849 |  |  | — |  |  | 54,634 |
Total | 276,398 |  |  | 559,496 |  |  | 466,569 |  |  | 317,069 |  |  | 442,833 |  |  | 1,118,156 |  |  | 154,385 |  |  | 290 |  |  | 3,335,196 |
Commercial business gross charge-offs
Current period | — |  |  | — |  |  | 15 |  |  | 61 |  |  | — |  |  | 100 |  |  | — |  |  | — |  |  | 176 |
Residential real estate
Pass(1) | 37,158 |  |  | 139,887 |  |  | 143,647 |  |  | 24,868 |  |  | 15,134 |  |  | 16,590 |  |  | — |  |  | — |  |  | 377,284 |
SS | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 164 |  |  | — |  |  | — |  |  | 164 |
Total | 37,158 |  |  | 139,887 |  |  | 143,647 |  |  | 24,868 |  |  | 15,134 |  |  | 16,754 |  |  | — |  |  | — |  |  | 377,448 |
Real estate construction and land development:
Residential
Pass | 26,212 |  |  | 30,529 |  |  | 5,024 |  |  | 1,488 |  |  | 822 |  |  | 732 |  |  | — |  |  | — |  |  | 64,807 |
SS | 997 |  |  | 319 |  |  | 4,495 |  |  | — |  |  | — |  |  | 186 |  |  | — |  |  | — |  |  | 5,997 |
Total | 27,209 |  |  | 30,848 |  |  | 9,519 |  |  | 1,488 |  |  | 822 |  |  | 918 |  |  | — |  |  | — |  |  | 70,804 |
Commercial and multifamily
Pass | 26,072 |  |  | 158,782 |  |  | 106,134 |  |  | 5,391 |  |  | 764 |  |  | 3,369 |  |  | — |  |  | — |  |  | 300,512 |
SM | — |  |  | — |  |  | — |  |  | 3,452 |  |  | 5,687 |  |  | 373 |  |  | — |  |  | — |  |  | 9,512 |
Total | 26,072 |  |  | 158,782 |  |  | 106,134 |  |  | 8,843 |  |  | 6,451 |  |  | 3,742 |  |  | — |  |  | — |  |  | 310,024 |
| September 30, 2023 |  | Revolving Loans |  | Revolving Loans Converted(1) |  | Loans Receivable
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
| (Dollars in thousands)
Total real estate construction and land development
Pass | 52,284 |  |  | 189,311 |  |  | 111,158 |  |  | 6,879 |  |  | 1,586 |  |  | 4,101 |  |  | — |  |  | — |  |  | 365,319 |
SM | — |  |  | — |  |  | — |  |  | 3,452 |  |  | 5,687 |  |  | 373 |  |  | — |  |  | — |  |  | 9,512 |
SS | 997 |  |  | 319 |  |  | 4,495 |  |  | — |  |  | — |  |  | 186 |  |  | — |  |  | — |  |  | 5,997 |
Total | 53,281 |  |  | 189,630 |  |  | 115,653 |  |  | 10,331 |  |  | 7,273 |  |  | 4,660 |  |  | — |  |  | — |  |  | 380,828 |
Consumer
Pass | 1,713 |  |  | 2,314 |  |  | 332 |  |  | 7,016 |  |  | 18,305 |  |  | 23,514 |  |  | 117,681 |  |  | 653 |  |  | 171,528 |
SS | — |  |  | — |  |  | — |  |  | 150 |  |  | 286 |  |  | 1,023 |  |  | 375 |  |  | 24 |  |  | 1,858 |
Total | 1,713 |  |  | 2,314 |  |  | 332 |  |  | 7,166 |  |  | 18,591 |  |  | 24,537 |  |  | 118,056 |  |  | 677 |  |  | 173,386 |
Consumer gross charge-offs:
Current period | 7 |  |  | 10 |  |  | 12 |  |  | 21 |  |  | 54 |  |  | 122 |  |  | 194 |  |  | — |  |  | 420 |
Loans receivable
Pass | 367,553 |  |  | 888,967 |  |  | 703,913 |  |  | 349,873 |  |  | 470,940 |  |  | 1,090,493 |  |  | 259,371 |  |  | 943 |  |  | 4,132,053 |
SM | — |  |  | 802 |  |  | 12,036 |  |  | 7,212 |  |  | 11,385 |  |  | 39,871 |  |  | 846 |  |  | — |  |  | 72,152 |
SS | 997 |  |  | 1,558 |  |  | 10,252 |  |  | 2,349 |  |  | 1,506 |  |  | 33,743 |  |  | 12,224 |  |  | 24 |  |  | 62,653 |
Total | $ | 368,550 |  |  | $ | 891,327 |  |  | $ | 726,201 |  |  | $ | 359,434 |  |  | $ | 483,831 |  |  | $ | 1,164,107 |  |  | $ | 272,441 |  |  | $ | 967 |  |  | $ | 4,266,858 |
Gross charge-offs:
Total | $ | 7 |  |  | $ | 10 |  |  | $ | 27 |  |  | $ | 82 |  |  | $ | 54 |  |  | $ | 222 |  |  | $ | 194 |  |  | $ | — |  |  | $ | 596 |
(1) Represents the loans receivable balance at September 30, 2023 which was converted from a revolving loan to a non-revolving amortizing loan during the nine months ended September 30, 2023.
| December 31, 2022 |  | Revolving Loans |  | Revolving Loans Converted(1) |  | Loans Receivable
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  |  |
| (Dollars in thousands)
Commercial business:
Commercial and industrial
Pass | $ | 168,818 |  |  | $ | 94,653 |  |  | $ | 82,554 |  |  | $ | 61,160 |  |  | $ | 33,957 |  |  | $ | 74,181 |  |  | $ | 146,795 |  |  | $ | 172 |  |  | $ | 662,290 |
SM | 212 |  |  | 109 |  |  | 443 |  |  | 4,637 |  |  | 362 |  |  | 4,447 |  |  | 5,433 |  |  | — |  |  | 15,643 |
SS | 773 |  |  | 188 |  |  | 1,710 |  |  | 3,465 |  |  | 559 |  |  | 5,098 |  |  | 3,674 |  |  | 168 |  |  | 15,635 |
Total | 169,803 |  |  | 94,950 |  |  | 84,707 |  |  | 69,262 |  |  | 34,878 |  |  | 83,726 |  |  | 155,902 |  |  | 340 |  |  | 693,568 |
Owner-occupied CRE
Pass | 134,432 |  |  | 167,927 |  |  | 93,834 |  |  | 157,096 |  |  | 62,876 |  |  | 282,212 |  |  | — |  |  | — |  |  | 898,377 |
SM | — |  |  | 1,744 |  |  | — |  |  | — |  |  | 2,540 |  |  | 16,664 |  |  | — |  |  | 247 |  |  | 21,195 |
SS | — |  |  | — |  |  | 671 |  |  | — |  |  | 3,722 |  |  | 13,075 |  |  | — |  |  | — |  |  | 17,468 |
Total | 134,432 |  |  | 169,671 |  |  | 94,505 |  |  | 157,096 |  |  | 69,138 |  |  | 311,951 |  |  | — |  |  | 247 |  |  | 937,040 |
Non-owner-occupied CRE
Pass | 240,151 |  |  | 189,300 |  |  | 160,930 |  |  | 258,778 |  |  | 121,369 |  |  | 561,645 |  |  | — |  |  | — |  |  | 1,532,173 |
SM | — |  |  | 8,349 |  |  | — |  |  | 4,172 |  |  | — |  |  | 12,190 |  |  | — |  |  | — |  |  | 24,711 |
SS | — |  |  | — |  |  | — |  |  | — |  |  | 3,627 |  |  | 26,121 |  |  | — |  |  | — |  |  | 29,748 |
Total | 240,151 |  |  | 197,649 |  |  | 160,930 |  |  | 262,950 |  |  | 124,996 |  |  | 599,956 |  |  | — |  |  | — |  |  | 1,586,632 |
| December 31, 2022 |  | Revolving Loans |  | Revolving Loans Converted(1) |  | Loans Receivable
| Term Loans Amortized Cost Basis by Origination Year |  |  |
| 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  |  |
| (Dollars in thousands)
Total commercial business
Pass | 543,401 |  |  | 451,880 |  |  | 337,318 |  |  | 477,034 |  |  | 218,202 |  |  | 918,038 |  |  | 146,795 |  |  | 172 |  |  | 3,092,840 |
SM | 212 |  |  | 10,202 |  |  | 443 |  |  | 8,809 |  |  | 2,902 |  |  | 33,301 |  |  | 5,433 |  |  | 247 |  |  | 61,549 |
SS | 773 |  |  | 188 |  |  | 2,381 |  |  | 3,465 |  |  | 7,908 |  |  | 44,294 |  |  | 3,674 |  |  | 168 |  |  | 62,851 |
Total | 544,386 |  |  | 462,270 |  |  | 340,142 |  |  | 489,308 |  |  | 229,012 |  |  | 995,633 |  |  | 155,902 |  |  | 587 |  |  | 3,217,240 |
Residential real estate
Pass | 132,510 |  |  | 149,934 |  |  | 24,668 |  |  | 16,803 |  |  | 4,207 |  |  | 15,337 |  |  | — |  |  | — |  |  | 343,459 |
SS | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 172 |  |  | — |  |  | — |  |  | 172 |
Total | 132,510 |  |  | 149,934 |  |  | 24,668 |  |  | 16,803 |  |  | 4,207 |  |  | 15,509 |  |  | — |  |  | — |  |  | 343,631 |
Real estate construction and land development:
Residential
Pass | 45,521 |  |  | 26,675 |  |  | 2,891 |  |  | 3,061 |  |  | 871 |  |  | 1,055 |  |  | — |  |  | — |  |  | 80,074 |
Commercial and multifamily
Pass | 71,168 |  |  | 123,626 |  |  | 6,272 |  |  | 1,084 |  |  | 2,562 |  |  | 995 |  |  | — |  |  | — |  |  | 205,707 |
SM | — |  |  | — |  |  | 2,213 |  |  | 5,687 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,900 |
SS | — |  |  | — |  |  | — |  |  | 37 |  |  | — |  |  | 394 |  |  | — |  |  | — |  |  | 431 |
Total | 71,168 |  |  | 123,626 |  |  | 8,485 |  |  | 6,808 |  |  | 2,562 |  |  | 1,389 |  |  | — |  |  | — |  |  | 214,038 |
Total real estate construction and land development
Pass | 116,689 |  |  | 150,301 |  |  | 9,163 |  |  | 4,145 |  |  | 3,433 |  |  | 2,050 |  |  | — |  |  | — |  |  | 285,781 |
SM | — |  |  | — |  |  | 2,213 |  |  | 5,687 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,900 |
SS | — |  |  | — |  |  | — |  |  | 37 |  |  | — |  |  | 394 |  |  | — |  |  | — |  |  | 431 |
Total | 116,689 |  |  | 150,301 |  |  | 11,376 |  |  | 9,869 |  |  | 3,433 |  |  | 2,444 |  |  | — |  |  | — |  |  | 294,112 |
Consumer
Pass | 3,379 |  |  | 509 |  |  | 9,848 |  |  | 27,370 |  |  | 15,563 |  |  | 19,855 |  |  | 116,605 |  |  | 435 |  |  | 193,564 |
SS | — |  |  | — |  |  | 168 |  |  | 559 |  |  | 320 |  |  | 1,120 |  |  | 44 |  |  | 100 |  |  | 2,311 |
Total | 3,379 |  |  | 509 |  |  | 10,016 |  |  | 27,929 |  |  | 15,883 |  |  | 20,975 |  |  | 116,649 |  |  | 535 |  |  | 195,875 |
Loans receivable
Pass | 795,979 |  |  | 752,624 |  |  | 380,997 |  |  | 525,352 |  |  | 241,405 |  |  | 955,280 |  |  | 263,400 |  |  | 607 |  |  | 3,915,644 |
SM | 212 |  |  | 10,202 |  |  | 2,656 |  |  | 14,496 |  |  | 2,902 |  |  | 33,301 |  |  | 5,433 |  |  | 247 |  |  | 69,449 |
SS | 773 |  |  | 188 |  |  | 2,549 |  |  | 4,061 |  |  | 8,228 |  |  | 45,980 |  |  | 3,718 |  |  | 268 |  |  | 65,765 |
Total | $ | 796,964 |  |  | $ | 763,014 |  |  | $ | 386,202 |  |  | $ | 543,909 |  |  | $ | 252,535 |  |  | $ | 1,034,561 |  |  | $ | 272,551 |  |  | $ | 1,122 |  |  | $ | 4,050,858 |
(1) Represents the loans receivable balance at December 31, 2022 which was converted from a revolving loan to non-revolving amortizing loan during the year ended December 31, 2022.
Schedule of Loans Receivable, Nonaccrual | The following tables present the amortized cost of nonaccrual loans at the dates indicated:
| September 30, 2023
| Nonaccrual without ACL |  | Nonaccrual with ACL |  | Total Nonaccrual
| (Dollars in thousands)
Commercial business: |  |  |  |  |
Commercial and industrial | $ | 2,172 |  |  | $ | 686 |  |  | $ | 2,858 |
Owner-occupied CRE | — |  |  | 207 |  |  | 207 |
Total | $ | 2,172 |  |  | $ | 893 |  |  | $ | 3,065 |
| December 31, 2022
| Nonaccrual without ACL |  | Nonaccrual with ACL |  | Total Nonaccrual
| (Dollars in thousands)
Commercial business: |  |  |  |  |
Commercial and industrial | $ | 4,503 |  |  | $ | 1,154 |  |  | $ | 5,657 |
Owner-occupied CRE | — |  |  | 212 |  |  | 212 |
Total commercial business | 4,503 |  |  | 1,366 |  |  | 5,869 |
Real estate construction and land development: |  |  |  |  |
Commercial and multifamily | — |  |  | 37 |  |  | 37 |
Total | $ | 4,503 |  |  | $ | 1,403 |  |  | $ | 5,906 |
The following table presents the reversal of interest income on loans due to the write-off of accrued interest receivable upon the initial classification of loans as nonaccrual loans and the interest income recognized due to payment in full or sale of previously classified nonaccrual loans during the following periods:
| Three Months Ended September 30,
| 2023 |  | 2022
| Interest Income Reversed |  | Interest Income Recognized |  | Interest Income Reversed |  | Interest Income Recognized
| (Dollars in thousands)
Commercial business: |  |  |  |  |  |  |
Commercial and industrial | $ | (10) |  |  | $ | 18 |  |  | $ | — |  |  | $ | 31 |
Total | $ | (10) |  |  | $ | 18 |  |  | $ | — |  |  | $ | 31 |
| Nine Months Ended September 30,
| 2023 |  | 2022
| Interest Income Reversed |  | Interest Income Recognized |  | Interest Income Reversed |  | Interest Income Recognized
| (Dollars in thousands)
Commercial business: |  |  |  |  |  |  |
Commercial and industrial | $ | (24) |  |  | $ | 48 |  |  | $ | (14) |  |  | $ | 260 |
Owner-occupied CRE | — |  |  | — |  |  | — |  |  | 53 |
Non-owner occupied CRE | — |  |  | — |  |  | — |  |  | 774 |
Total commercial business | (24) |  |  | 48 |  |  | (14) |  |  | 1,087 |
Residential real estate | — |  |  | — |  |  | — |  |  | 19 |
Consumer | — |  |  | — |  |  | — |  |  | 68 |
Total | $ | (24) |  |  | $ | 48 |  |  | $ | (14) |  |  | $ | 1,174 |
Schedule of Loans Receivable, Past Due | The following tables present the amortized cost of past due loans at the dates indicated:
| September 30, 2023
| 30-89 Days |  | 90 Days or Greater |  | Total Past Due |  | Current |  | Loans Receivable
| (Dollars in thousands)
Commercial business: |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 1,126 |  |  | $ | 2,883 |  |  | $ | 4,009 |  |  | $ | 687,309 |  |  | $ | 691,318 |
| September 30, 2023
| 30-89 Days |  | 90 Days or Greater |  | Total Past Due |  | Current |  | Loans Receivable
| (Dollars in thousands)
Owner-occupied CRE | 426 |  |  | 635 |  |  | 1,061 |  |  | 952,718 |  |  | 953,779 |
Non-owner occupied CRE | — |  |  | — |  |  | — |  |  | 1,690,099 |  |  | 1,690,099 |
Total commercial business | 1,552 |  |  | 3,518 |  |  | 5,070 |  |  | 3,330,126 |  |  | 3,335,196 |
Residential real estate | — |  |  | — |  |  | — |  |  | 377,448 |  |  | 377,448 |
Real estate construction and land development:
Residential | 505 |  |  | — |  |  | 505 |  |  | 70,299 |  |  | 70,804 |
Commercial and multifamily | — |  |  | — |  |  | — |  |  | 310,024 |  |  | 310,024 |
Total real estate construction and land development | 505 |  |  | — |  |  | 505 |  |  | 380,323 |  |  | 380,828 |
Consumer | 635 |  |  | 325 |  |  | 960 |  |  | 172,426 |  |  | 173,386 |
Total | $ | 2,692 |  |  | $ | 3,843 |  |  | $ | 6,535 |  |  | $ | 4,260,323 |  |  | $ | 4,266,858 |
| December 31, 2022
| 30-89 Days |  | 90 Days or Greater |  | Total Past Due |  | Current |  | Loans Receivable
| (Dollars in thousands)
Commercial business: |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 822 |  |  | $ | 6,104 |  |  | $ | 6,926 |  |  | $ | 686,642 |  |  | $ | 693,568 |
Owner-occupied CRE | — |  |  | 189 |  |  | 189 |  |  | 936,851 |  |  | 937,040 |
Non-owner occupied CRE | — |  |  | — |  |  | — |  |  | 1,586,632 |  |  | 1,586,632 |
Total commercial business | 822 |  |  | 6,293 |  |  | 7,115 |  |  | 3,210,125 |  |  | 3,217,240 |
Residential real estate | 3,066 |  |  | — |  |  | 3,066 |  |  | 340,565 |  |  | 343,631 |
Real estate construction and land development:
Residential | — |  |  | — |  |  | — |  |  | 80,074 |  |  | 80,074 |
Commercial and multifamily | — |  |  | — |  |  | — |  |  | 214,038 |  |  | 214,038 |
Total real estate construction and land development | — |  |  | — |  |  | — |  |  | 294,112 |  |  | 294,112 |
Consumer | 1,561 |  |  | — |  |  | 1,561 |  |  | 194,314 |  |  | 195,875 |
Total | $ | 5,449 |  |  | $ | 6,293 |  |  | $ | 11,742 |  |  | $ | 4,039,116 |  |  | $ | 4,050,858 |
Schedule of Collateral Dependent Loans | The following tables present the type of collateral securing loans individually evaluated for credit losses and for which the repayment was expected to be provided substantially through the operation or sale of the collateral at the dates indicated, with b alances representing the amortized cost of the loan classified by the primary collateral category of each loan if multiple collateral sources secure the loan:
| September 30, 2023
| CRE |  | Farmland |  | Residential Real Estate |  | Equipment |  | Total
| (Dollars in thousands)
Commercial business: |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 260 |  |  | $ | 389 |  |  | $ | 630 |  |  | $ | 541 |  |  | $ | 1,820 |
Owner-occupied CRE | 189 |  |  | — |  |  | — |  |  | — |  |  | 189 |
Total | $ | 449 |  |  | $ | 389 |  |  | $ | 630 |  |  | $ | 541 |  |  | $ | 2,009 |
| December 31, 2022
| CRE |  | Farmland |  | Residential Real Estate |  |  |  | Equipment |  | Total
| (Dollars in thousands)
Commercial business: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 1,239 |  |  | $ | 1,977 |  |  | $ | 929 |  |  |  |  | $ | — |  |  | $ | 4,145 |
Owner-occupied CRE | 189 |  |  | — |  |  | — |  |  |  |  | — |  |  | 189 |
Total | $ | 1,428 |  |  | $ | 1,977 |  |  | $ | 929 |  |  |  |  | $ | — |  |  | $ | 4,334 |
Schedule of Loan Modifications | The following table presents loan modifications by type of modification at amortized cost that were modified as a result of experiencing both financial difficulty and modified during the period indicated:
|  |  | Three Months Ended September 30, 2023
|  |  | Term Extension |  |  |  |  |  | Term Extension & Int. Rate Reduction |  | Total Modified Loans |  | % of Modified Loans to Loans Receivable, net
|  |  | (Dollars in thousands)
Commercial business:
Commercial and industrial |  |  | $ | 313 |  |  |  |  |  |  | $ | — |  |  | $ | 313 |  |  | 0.05 | %
Non-owner occupied CRE |  |  | — |  |  |  |  |  |  | 239 |  |  | 239 |  |  | 0.01 |
Total |  |  | $ | 313 |  |  |  |  |  |  | $ | 239 |  |  | $ | 552 |  |  | 0.01 | %
|  |  | Nine Months Ended September 30, 2023
|  |  | Term Extension |  |  |  |  |  | Term Extension & Int. Rate Reduction |  | Total Modified Loans |  | % of Modified Loans to Loans Receivable, net
|  |  | (Dollars in thousands)
Commercial business:
Commercial and industrial |  |  | $ | 6,516 |  |  |  |  |  |  | $ | — |  |  | $ | 6,516 |  |  | 0.94 | %
Non-owner occupied CRE |  |  | 2,716 |  |  |  |  |  |  | 239 |  |  | 2,955 |  |  | 0.17 |
Total commercial business |  |  | 9,232 |  |  |  |  |  |  | 239 |  |  | 9,471 |  |  | 0.28 |
Real estate construction and land development: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and multifamily |  |  | 3,452 |  |  |  |  |  |  | — |  |  | 3,452 |  |  | 1.11 | %
Consumer |  |  | 28 |  |  |  |  |  |  | 17 |  |  | 45 |  |  | 0.03 | %
Total |  |  | $ | 12,712 |  |  |  |  |  |  | $ | 256 |  |  | $ | 12,968 |  |  | 0.30 | %
The following tables present the financial effect of the loan modifications presented in the preceding table during the periods indicated:
|  |  |  |  | Three Months Ended September 30, 2023 |  | Nine Months Ended September 30, 2023
|  |  |  |  | Weighted Average % of Interest Rate Reductions |  | Weighted Average Years of Term Extensions |  | Weighted Average % of Interest Rate Reductions |  | Weighted Average Years of Term Extensions
Commercial business: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  |  |  |  | — | % |  | 1.82 |  | — | % |  | 0.58
Owner-occupied CRE |  |  |  |  | — | % |  |  |  | — | % |  |
Non-owner occupied CRE |  |  |  |  | 3.00 |  |  | 2.00 |  | 3.00 |  |  | 1.09
Total commercial business |  |  |  |  | 3.00 |  |  | 1.90 |  | 3.00 |  |  | 0.74
Real estate construction and land development: |  |  |  |  |  |  |  |  |  |  |
Commercial and multifamily |  |  |  |  | — |  |  |  |  | — |  |  | 0.42
Consumer |  |  |  |  | — |  |  |  |  | 1.00 |  |  | 2.62
Total |  |  |  |  | 3.00 | % |  | 1.90 |  | 3.00 | % |  | 0.66

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