Loans by Type (Tables)

9 Months Ended

Sep. 30, 2020

A summary of loan categories is as follows:

(In thousands)	September 30, 2020		December 31, 2019
Commercial and industrial	$	301,886	$	323,857
Paycheck protection program (“PPP”)		172,211		—
Real estate:
Commercial:
Mortgage		94,792		101,654
Construction		23,795		25,299
Faith-based:
Mortgage		331,419		305,826
Construction		20,452		15,945
Other		2		57
Total loans	$	944,557	$	772,638

Schedule of the Aging Loans by Loan Categories

The following table presents the aging of loans by loan categories at September 30, 2020 and December 31, 2019:

	Performing						Nonperforming
(In thousands)	Current		30-59 Days		60-89 Days		90 Days and Over		Non- accrual		Total Loans
September 30, 2020
Commercial and industrial	$	301,886	$	—	$	—	$	—	$	—	$	301,886
PPP		172,211		—		—		—		—		172,211
Real estate:
Commercial:
Mortgage		94,792		—		—		—		—		94,792
Construction		23,795		—		—		—		—		23,795
Faith-based:
Mortgage		331,419		—		—		—		—		331,419
Construction		20,452		—		—		—		—		20,452
Other		2		—		—		—		—		2
Total	$	944,557	$	—	$	—	$	—	$	—	$	944,557
December 31, 2019
Commercial and industrial	$	323,857	$	—	$	—	$	—	$	—	$	323,857
Real estate:
Commercial:
Mortgage		101,654		—		—		—		—		101,654
Construction		25,299		—		—		—		—		25,299
Faith-based:
Mortgage		305,826		—		—		—		—		305,826
Construction		15,945		—		—		—		—		15,945
Other		57		—		—		—		—		57
Total	$	772,638	$	—	$	—	$	—	$	—	$	772,638

Schedule of Credit Exposure of the Loan Portfolio

The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of September 30, 2020 and December 31, 2019:

(In thousands)	Loans Subject to Normal Monitoring¹		Performing Loans Subject to Special Monitoring²		Nonperforming Loans Subject to Special Monitoring²		Total Loans
September 30, 2020
Commercial and industrial	$	288,060	$	13,826	$	—	$	301,886
PPP		172,211		—		—		172,211
Real estate:
Commercial:
Mortgage		93,370		1,422		—		94,792
Construction		23,795		—		—		23,795
Faith-based:
Mortgage		328,285		3,134		—		331,419
Construction		20,452		—		—		20,452
Other		2		—		—		2
Total	$	926,175	$	18,382	$	—	$	944,557
December 31, 2019
Commercial and industrial	$	321,554	$	2,303	$	—	$	323,857
Real estate:
Commercial:
Mortgage		100,346		1,308		—		101,654
Construction		25,299		—		—		25,299
Faith-based:
Mortgage		304,513		1,313		—		305,826
Construction		15,945		—		—		15,945
Other		57		—		—		57
Total	$	767,714	$	4,924	$	—	$	772,638

¹ Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligations.

² Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.

Schedule of Recorded Investment and Unpaid Principal Balance for Impaired Loans

The following table presents the recorded investment and unpaid principal balance for impaired loans at September 30, 2020. There were no impaired loans at December 31, 2019 or September 30, 2019.

(In thousands)	Recorded Investment		Unpaid Principal Balance		Related Allowance for Loan Losses
Commercial and industrial:	$	11,782	$	11,782	$	500
Real estate:
Faith-based:
Mortgage		1,038		1,038		—
Total impaired loans	$	12,820	$	12,820	$	500

Summary of the Allowance for Loan Losses

A summary of the activity in the allowance for loan losses from December 31, 2019 to September 30, 2020 is as follows:

(In thousands)	December 31, 2019		Charge- Offs		Recoveries		Provision		September 30, 2020
Commercial and industrial	$	4,874	$	—	$	16	$	211	$	5,101
Real estate:
Commercial:
Mortgage		1,528		—		—		(34)		1,494
Construction		191		—		—		(2)		189
Faith-based:
Mortgage		3,842		—		1		510		4,353
Construction		121		—		—		40		161
Total	$	10,556	$	—	$	17	$	725	$	11,298

A summary of the activity in the allowance for loan losses from December 31, 2018 to September 30, 2019 is as follows:

(In thousands)	December 31, 2018		Charge- Offs		Recoveries		Provision		September 30, 2019
Commercial and industrial	$	4,179	$	—	$	34	$	672	$	4,885
Real estate:
Commercial:
Mortgage		1,417		—		—		(161)		1,256
Construction		89		—		—		91		180
Faith-based:
Mortgage		3,961		—		—		32		3,993
Construction		155		—		—		(38)		117
Other		424		—		—		(346)		78
Total	$	10,225	$	—	$	34	$	250	$	10,509