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LOANS AND CREDIT QUALITY | 12 Months Ended
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Dec. 31, 2023
Receivables [Abstract] |
LOANS AND CREDIT QUALITY | 3. LOANS AND CREDIT QUALITY Loans, net of deferred fees and costs as of December 31, 2023 and 2022 consisted of the following:
| December 31,
(Dollars in thousands) | 2023 |  | 2022
Commercial and industrial: |  |  |
Small Business Administration Paycheck Protection Program ("SBA PPP") | $ | 1,313 |  |  | $ | 2,654 |
Other | 574,725 |  |  | 544,495 |
Real estate: |  |  |
Construction | 185,994 |  |  | 167,366 |
Residential mortgage | 1,927,206 |  |  | 1,940,456 |
Home equity | 734,500 |  |  | 737,386 |
Commercial mortgage | 1,384,579 |  |  | 1,364,998 |
Consumer | 630,898 |  |  | 798,957 |
Gross loans | 5,439,215 |  |  | 5,556,312 |
Net deferred fees and costs | (233) |  |  | (846) |
Loans, net of deferred fees and costs | $ | 5,438,982 |  |  | $ | 5,555,466 |
There are different types of risk characteristics for the loans in each portfolio segment. The construction and real estate segment's predominant risk characteristics are the collateral and the geographic location of the property collateralizing the loan, as well as the operating cash flow for the commercial real estate properties. The commercial and industrial segment's predominant risk characteristics are the cash flows of the business we lend to, the global cash flows and liquidity of the guarantors, as well as economic and market conditions. The consumer segment's predominant risk characteristics are employment and income levels as they relate to the consumer. In 2023, the Company transferred one loan to the loans held for sale category. The loan did not have any credit concerns at the time of transfer and thus was transferred to loans held for sale at its amortized cost of $9.8 million. The loan was sold in 2023 for $9.6 million, or a loss of $0.2 million, which was recorded in other operating expense. The Company did not transfer any other loans to the held-for-sale category during the years ended December 31, 2023 and 2022. The Company has purchased loan portfolios, none of which were credit deteriorated at the time of purchase. The following table presents loan purchases by class for the periods presented:
(Dollars in thousands) | Consumer - Unsecured |  | Consumer - Automobile |  | Total
Year Ended December 31, 2023 |  |  |  |  |
Purchases: |  |  |  |  |
Outstanding balance | $ | 3,932 |  |  | $ | 15,159 |  |  | $ | 19,091 |
Purchase premium | — |  |  | 568 |  |  | 568 |
Purchase price | $ | 3,932 |  |  | $ | 15,727 |  |  | $ | 19,659 |
Year Ended December 31, 2022 |  |  |  |  |
Purchases: |  |  |  |  |
Outstanding balance | $ | 229,283 |  |  | $ | 101,500 |  |  | $ | 330,783 |
Purchase (discount) premium | (12,119) |  |  | 4,738 |  |  | (7,381) |
Purchase price | $ | 217,164 |  |  | $ | 106,238 |  |  | $ | 323,402 |
In the normal course of business, the Bank makes loans to certain directors, executive officers and their affiliates. Related party loan balances were $33.7 million and $37.4 million as of December 31, 2023 and 2022, respectively. Collateral-Dependent Loans In accordance with ASC 326, 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. The following table presents the amortized cost basis of collateral-dependent loans by class, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans as of December 31, 2023 and 2022:
| December 31, 2023
(Dollars in thousands) | Secured by 1-4 Family Residential Properties |  | Secured by Nonfarm Nonresidential Properties |  |  |  |  |  | Total |  | Allocated ACL
Real estate: |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | $ | 6,450 |  |  | $ | — |  |  |  |  |  |  | $ | 6,450 |  |  | $ | 47 |
Home equity | 834 |  |  | — |  |  |  |  |  |  | 834 |  |  | — |
Commercial mortgage | — |  |  | 77 |  |  |  |  |  |  | 77 |  |  | — |
Total | $ | 7,284 |  |  | $ | 77 |  |  |  |  |  |  | $ | 7,361 |  |  | $ | 47 |
| December 31, 2022
(Dollars in thousands) | Secured by 1-4 Family Residential Properties |  | Secured by Nonfarm Nonresidential Properties |  |  |  |  |  | Total |  | Allocated ACL
Real estate: |  |  |  |  |  |  |  |  |  |  |
Residential mortgage | $ | 5,653 |  |  | $ | — |  |  |  |  |  |  | $ | 5,653 |  |  | $ | — |
Home equity | 570 |  |  | — |  |  |  |  |  |  | 570 |  |  | — |
Total | $ | 6,223 |  |  | $ | — |  |  |  |  |  |  | $ | 6,223 |  |  | $ | — |
Foreclosure Proceedings Residential mortgage loans collateralized by residential real estate property that were in the process of foreclosure totaled $2.3 million and $0.1 million as of December 31, 2023 and 2022, respectively. The residential mortgage loans that were in the process of foreclosure are well-collateralized with low loan-to-value ratios and no losses are expected upon foreclosure of the loans. The Company did not foreclose on any loans during the years ended December 31, 2023 and 2022. The Company did not sell any foreclosed properties during the years ended December 31, 2023 and 2022. Nonaccrual and Past Due Loans For all loan types, the Company determines delinquency status by considering the number of days full payments required by the contractual terms of the loan are past due. The following tables present by class, the aging of the recorded investment in past due loans as of December 31, 2023 and 2022. The following tables also present the amortized cost of loans on nonaccrual status for which there was no related ACL as of the dates indicated:
| December 31, 2023
(Dollars in thousands) | Accruing Loans 30 - 59 Days Past Due |  | Accruing Loans 60 - 89 Days Past Due |  | Accruing Loans 90+ Days Past Due |  | Nonaccrual Loans |  | Total Past Due and Nonaccrual |  | Loans and Leases Not Past Due |  | Total |  | Nonaccrual Loans with No ACL
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SBA PPP | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,284 |  |  | $ | 1,284 |  |  | $ | — |
Other | 513 |  |  | 169 |  |  | — |  |  | 432 |  |  | 1,114 |  |  | 573,309 |  |  | 574,423 |  |  | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 185,519 |  |  | 185,519 |  |  | — |
Residential mortgage | 3,082 |  |  | 2,140 |  |  | — |  |  | 4,962 |  |  | 10,184 |  |  | 1,917,605 |  |  | 1,927,789 |  |  | 4,855 |
Home equity | 804 |  |  | 400 |  |  | 229 |  |  | 834 |  |  | 2,267 |  |  | 734,257 |  |  | 736,524 |  |  | 834 |
Commercial mortgage | — |  |  | — |  |  | — |  |  | 77 |  |  | 77 |  |  | 1,382,825 |  |  | 1,382,902 |  |  | 77 |
Consumer | 5,677 |  |  | 2,329 |  |  | 1,083 |  |  | 703 |  |  | 9,792 |  |  | 620,749 |  |  | 630,541 |  |  | — |
Total | $ | 10,076 |  |  | $ | 5,038 |  |  | $ | 1,312 |  |  | $ | 7,008 |  |  | $ | 23,434 |  |  | $ | 5,415,548 |  |  | $ | 5,438,982 |  |  | $ | 5,766 |
| December 31, 2022
(Dollars in thousands) | Accruing Loans 30 - 59 Days Past Due |  | Accruing Loans 60 - 89 Days Past Due |  | Accruing Loans 90+ Days Past Due |  | Nonaccrual Loans |  | Total Past Due and Nonaccrual |  | Loans and Leases Not Past Due |  | Total |  | Nonaccrual Loans with No ACL
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
SBA PPP | $ | 471 |  |  | $ | 37 |  |  | $ | 13 |  |  | $ | — |  |  | $ | 521 |  |  | $ | 2,034 |  |  | $ | 2,555 |  |  | $ | — |
Other | 546 |  |  | 131 |  |  | 26 |  |  | 297 |  |  | 1,000 |  |  | 542,947 |  |  | 543,947 |  |  | — |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 166,723 |  |  | 166,723 |  |  | — |
Residential mortgage | 303 |  |  | — |  |  | 559 |  |  | 3,808 |  |  | 4,670 |  |  | 1,936,329 |  |  | 1,940,999 |  |  | 3,808 |
Home equity | 1,540 |  |  | — |  |  | — |  |  | 570 |  |  | 2,110 |  |  | 737,270 |  |  | 739,380 |  |  | 570 |
Commercial mortgage | 160 |  |  | — |  |  | — |  |  | — |  |  | 160 |  |  | 1,362,915 |  |  | 1,363,075 |  |  | — |
Consumer | 5,173 |  |  | 1,921 |  |  | 1,240 |  |  | 576 |  |  | 8,910 |  |  | 789,877 |  |  | 798,787 |  |  | — |
Total | $ | 8,193 |  |  | $ | 2,089 |  |  | $ | 1,838 |  |  | $ | 5,251 |  |  | $ | 17,371 |  |  | $ | 5,538,095 |  |  | $ | 5,555,466 |  |  | $ | 4,378 |
Interest income totaling $0.1 million, $1.6 million, and $0.8 million was recognized on nonaccrual loans, including loans held for sale, in 2023, 2022 and 2021, respectively. Additional interest income of $0.3 million, $0.2 million, and $0.3 million would have been recognized in 2023, 2022 and 2021, respectively, had these loans been accruing interest throughout those periods. Additionally, interest income recoveries of $0.4 million, $0.3 million, and $0.3 million was collecte d on charged-off loans and recognized in other operating income in 2023, 2022 and 2021, respectively. Loan Modifications for Borrowers Experiencing Financial Difficulty Since the adoption of ASU 2022-02 on January 1, 2023 and during the year ended December 31, 2023, the Company has not modified any material loans for borrowers experiencing financial difficulty. Troubled Debt Restructurings Prior to the Adoption of ASU 2022-02 Prior to our adoption of ASU 2022-02, the Company accounted for a modification to the contractual terms of a loan that resulted in granting a concession to a borrower experiencing financial difficulties as a TDR. There were $2.1 million and $2.8 million of TDRs still accruing interest at December 31, 2023 and 2022, respectively, none of which were more than 90 days delinquent. There were $0.9 million and $1.1 million of TDRs included in nonperforming assets at December 31, 2023 and 2022, respectively. Credit Quality Indicators The Company categorizes 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, public information, and current economic trends, among other factors. The Company analyzes loans individually by classifying the loans by credit risk. This analysis includes non-homogeneous loans, such as commercial and industrial and commercial real estate loans. This analysis is performed on a quarterly basis. The Company uses the following definitions for risk rating of loans: Pass. Loans classified as pass are not adversely rated, are contractually current as to principal and interest, and are otherwise in compliance with the contractual terms of the loan agreement. Special Mention. Loans classified as special mention, while still adequately protected by the borrower's capital adequacy and payment capability, exhibit distinct weakening trends and/or elevated levels of exposure to external conditions. If left unchecked or uncorrected, these potential weaknesses may result in deteriorated prospects of repayment. These exposures require management's close attention so as to avoid becoming undue or unwarranted credit exposures. Substandard. Loans classified as substandard are inadequately protected by the borrower's current financial condition and payment capability or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the orderly repayment of debt. They are characterized by the distinct possibility that the Bank 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 orderly repayment in full, on the basis of current existing facts, conditions and values, highly questionable and improbable. Possibility of loss is extremely high, but because of certain important and reasonably specific factors that may work to the advantage and strengthening of the exposure, its classification as an estimate loss is deferred until its more exact status may be determined. Loss. Loans classified as loss are considered to be non-collectible and of such little value that their continuance as bankable assets is not warranted. This does not mean the loan has absolutely no recovery value, but rather it is neither practical nor desirable to defer writing off the loan, even though partial recovery may be obtained in the future. Losses are taken in the period in which they surface as uncollectible. The following tables present the amortized cost basis, net of deferred (fees) costs of the Company's loans by class, credit quality indicator and origination year as of December 31, 2023 and 2022. Revolving loans converted to term as of and during the year ended December 31, 2023 and 2022 were not material to the total loan portfolio.
| Amortized Cost of Term Loans by Origination Year |  |  |  |
(Dollars in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Amortized Cost of Revolving Loans |  | Total
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial - SBA PPP: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | — |  |  | $ | 1,284 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,284 |
Subtotal | — |  |  | — |  |  | 1,284 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,284 |
Commercial and industrial - Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 83,333 |  |  | 82,649 |  |  | 76,267 |  |  | 32,831 |  |  | 42,162 |  |  | 152,940 |  |  | 90,177 |  |  | 560,359 |
Special Mention | — |  |  | — |  |  | 2,916 |  |  | — |  |  | — |  |  | 944 |  |  | 93 |  |  | 3,953 |
Substandard | 37 |  |  | 1,189 |  |  | 576 |  |  | 662 |  |  | 571 |  |  | 7,026 |  |  | 50 |  |  | 10,111 |
Subtotal | 83,370 |  |  | 83,838 |  |  | 79,759 |  |  | 33,493 |  |  | 42,733 |  |  | 160,910 |  |  | 90,320 |  |  | 574,423 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 8,434 |  |  | 52,596 |  |  | 69,203 |  |  | 18,878 |  |  | 2,136 |  |  | 31,090 |  |  | 2,778 |  |  | 185,115 |
Special Mention | — |  |  | — |  |  | 404 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 404 |
Subtotal | 8,434 |  |  | 52,596 |  |  | 69,607 |  |  | 18,878 |  |  | 2,136 |  |  | 31,090 |  |  | 2,778 |  |  | 185,519 |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 101,473 |  |  | 266,314 |  |  | 609,648 |  |  | 414,430 |  |  | 144,312 |  |  | 385,452 |  |  | — |  |  | 1,921,629 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 268 |  |  | — |  |  | 268 |
Substandard | — |  |  | 1,057 |  |  | 299 |  |  | 931 |  |  | 818 |  |  | 2,787 |  |  | — |  |  | 5,892 |
Subtotal | 101,473 |  |  | 267,371 |  |  | 609,947 |  |  | 415,361 |  |  | 145,130 |  |  | 388,507 |  |  | — |  |  | 1,927,789 |
Home equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 12,229 |  |  | 32,208 |  |  | 19,589 |  |  | 8,766 |  |  | 6,372 |  |  | 17,379 |  |  | 638,917 |  |  | 735,460 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 66 |  |  | 998 |  |  | — |  |  | 1,064 |
Subtotal | 12,229 |  |  | 32,208 |  |  | 19,589 |  |  | 8,766 |  |  | 6,438 |  |  | 18,377 |  |  | 638,917 |  |  | 736,524 |
Commercial mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 96,479 |  |  | 256,660 |  |  | 202,933 |  |  | 115,055 |  |  | 112,578 |  |  | 566,325 |  |  | 6,311 |  |  | 1,356,341 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | 10,513 |  |  | 9,638 |  |  | — |  |  | 20,151 |
Substandard | — |  |  | — |  |  | 2,587 |  |  | — |  |  | 1,654 |  |  | 2,169 |  |  | — |  |  | 6,410 |
Subtotal | 96,479 |  |  | 256,660 |  |  | 205,520 |  |  | 115,055 |  |  | 124,745 |  |  | 578,132 |  |  | 6,311 |  |  | 1,382,902 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 88,593 |  |  | 261,752 |  |  | 144,341 |  |  | 36,431 |  |  | 27,970 |  |  | 10,538 |  |  | 59,130 |  |  | 628,755 |
Substandard | 58 |  |  | 231 |  |  | 205 |  |  | 87 |  |  | 83 |  |  | 1,084 |  |  | 10 |  |  | 1,758 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28 |  |  | — |  |  | 28 |
Subtotal | 88,651 |  |  | 261,983 |  |  | 144,546 |  |  | 36,518 |  |  | 28,053 |  |  | 11,650 |  |  | 59,140 |  |  | 630,541 |
Total loans, net of deferred fees and costs | $ | 390,636 |  |  | $ | 954,656 |  |  | $ | 1,130,252 |  |  | $ | 628,071 |  |  | $ | 349,235 |  |  | $ | 1,188,666 |  |  | $ | 797,466 |  |  | $ | 5,438,982 |
| Amortized Cost of Term Loans by Origination Year |  |  |  |
(Dollars in thousands) | 2022 |  | 2021 |  | 2020 |  | 2019 |  | 2018 |  | Prior |  | Amortized Cost of Revolving Loans |  | Total
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial - SBA PPP: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | 2,546 |  |  | $ | 9 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 2,555 |
Subtotal | — |  |  | 2,546 |  |  | 9 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,555 |
Commercial and industrial - Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 77,550 |  |  | 101,595 |  |  | 41,358 |  |  | 53,241 |  |  | 39,106 |  |  | 141,950 |  |  | 76,466 |  |  | 531,266 |
Special Mention | 2,206 |  |  | 350 |  |  | 172 |  |  | 1,011 |  |  | 29 |  |  | — |  |  | 99 |  |  | 3,867 |
Substandard | 188 |  |  | 176 |  |  | 833 |  |  | 256 |  |  | 116 |  |  | 7,215 |  |  | 30 |  |  | 8,814 |
Subtotal | 79,944 |  |  | 102,121 |  |  | 42,363 |  |  | 54,508 |  |  | 39,251 |  |  | 149,165 |  |  | 76,595 |  |  | 543,947 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 25,663 |  |  | 61,027 |  |  | 23,384 |  |  | 2,387 |  |  | 14,309 |  |  | 18,048 |  |  | 15,044 |  |  | 159,862 |
Special Mention | — |  |  | 417 |  |  | — |  |  | — |  |  | 898 |  |  | — |  |  | — |  |  | 1,315 |
Substandard | — |  |  | 4,850 |  |  | — |  |  | 696 |  |  | — |  |  | — |  |  | — |  |  | 5,546 |
Subtotal | 25,663 |  |  | 66,294 |  |  | 23,384 |  |  | 3,083 |  |  | 15,207 |  |  | 18,048 |  |  | 15,044 |  |  | 166,723 |
Residential mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 279,146 |  |  | 636,756 |  |  | 434,928 |  |  | 154,906 |  |  | 58,431 |  |  | 371,517 |  |  | — |  |  | 1,935,684 |
Substandard | — |  |  | — |  |  | 948 |  |  | — |  |  | 503 |  |  | 3,864 |  |  | — |  |  | 5,315 |
Subtotal | 279,146 |  |  | 636,756 |  |  | 435,876 |  |  | 154,906 |  |  | 58,934 |  |  | 375,381 |  |  | — |  |  | 1,940,999 |
Home equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 34,973 |  |  | 23,772 |  |  | 10,520 |  |  | 7,463 |  |  | 6,880 |  |  | 11,727 |  |  | 643,277 |  |  | 738,612 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 198 |  |  | 198 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 78 |  |  | 453 |  |  | 39 |  |  | 570 |
Subtotal | 34,973 |  |  | 23,772 |  |  | 10,520 |  |  | 7,463 |  |  | 6,958 |  |  | 12,180 |  |  | 643,514 |  |  | 739,380 |
Commercial mortgage: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 226,137 |  |  | 208,230 |  |  | 119,531 |  |  | 129,950 |  |  | 145,932 |  |  | 472,267 |  |  | 11,473 |  |  | 1,313,520 |
Special Mention | — |  |  | — |  |  | — |  |  | 11,388 |  |  | — |  |  | 16,082 |  |  | — |  |  | 27,470 |
Substandard | — |  |  | 10,149 |  |  | — |  |  | 1,700 |  |  | 2,133 |  |  | 8,103 |  |  | — |  |  | 22,085 |
Subtotal | 226,137 |  |  | 218,379 |  |  | 119,531 |  |  | 143,038 |  |  | 148,065 |  |  | 496,452 |  |  | 11,473 |  |  | 1,363,075 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 358,609 |  |  | 242,942 |  |  | 59,352 |  |  | 50,899 |  |  | 20,065 |  |  | 10,958 |  |  | 54,038 |  |  | 796,863 |
Special Mention | — |  |  | — |  |  | — |  |  | 113 |  |  | — |  |  | — |  |  | — |  |  | 113 |
Substandard | 1 |  |  | 261 |  |  | 91 |  |  | 126 |  |  | 42 |  |  | 790 |  |  | — |  |  | 1,311 |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 500 |  |  | — |  |  | 500 |
Subtotal | 358,610 |  |  | 243,203 |  |  | 59,443 |  |  | 51,138 |  |  | 20,107 |  |  | 12,248 |  |  | 54,038 |  |  | 798,787 |
Total loans, net of deferred fees and costs | $ | 1,004,473 |  |  | $ | 1,293,071 |  |  | $ | 691,126 |  |  | $ | 414,136 |  |  | $ | 288,522 |  |  | $ | 1,063,474 |  |  | $ | 800,664 |  |  | $ | 5,555,466 |
The following table includes gross charge-offs of loans by origination year during the year ended December 31, 2023.
| Gross Charge-offs by Year of Origination
(Dollars in thousands) | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Amortized Cost of Revolving Loans |  | Total
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other | $ | 211 |  |  | $ | 314 |  |  | $ | 204 |  |  | $ | — |  |  | $ | 276 |  |  | $ | 957 |  |  | $ | — |  |  | $ | 1,962 |
Consumer | 111 |  |  | 8,282 |  |  | 5,997 |  |  | 1,148 |  |  | 833 |  |  | 874 |  |  | — |  |  | 17,245 |
Total gross charge-offs | $ | 322 |  |  | $ | 8,596 |  |  | $ | 6,201 |  |  | $ | 1,148 |  |  | $ | 1,109 |  |  | $ | 1,831 |  |  | $ | — |  |  | $ | 19,207 |

X
- Definition The entire disclosure for claims held for amounts due a 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 + Details
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