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Loans (Tables)
 12 Months Ended
Dec. 31, 2023
Receivables [Abstract]  
Summary of Loan Categories
A summary of loan categories is as follows:
December 31,
(In thousands)20232022
Commercial and industrial$498,502 $561,616 
Real estate:
Commercial:
Mortgage 118,371 108,166 
Construction 8,233 17,874 
Faith-based:
Mortgage 381,368 387,114 
Construction 7,790 8,094 
Other 54 42 
Total loans $1,014,318 $1,082,906 
Schedule of Debt The following table presents the aging of loans by loan categories at December 31, 2023:
PerformingNonperforming
(In thousands)Current30-59
Days		60-89
Days		90 Days
and
Over		Non-
accrual		Total
Loans
Commercial and industrial$498,502 $— $— $— $— $498,502 
Real estate
Commercial:
Mortgage118,371 — — — — 118,371 
Construction8,233 — — — — 8,233 
Faith-based:
Mortgage381,368 — — — — 381,368 
Construction7,790 — — — — 7,790 
PPP— — — — — — 
Other54 — — — — 54 
Total$1,014,318 $— $— $— $— $1,014,318 
The following table presents the aging of loans by loan categories at December 31, 2022:
PerformingNonperforming
(In thousands)Current30-59
Days		60-89
Days		90 Days
and
Over		Non-
accrual		Total
Loans
Commercial and industrial$560,466 $— $— $— $1,150 $561,616 
Real estate
Commercial:
Mortgage108,166 — — — — 108,166 
Construction17,874 — — — — 17,874 
Faith-based:
Mortgage387,114 — — — — 387,114 
Construction8,094 — — — — 8,094 
PPP— — — — — — 
Other42 — — — — 42 
Total$1,081,756 $— $— $— $1,150 $1,082,906 
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 December 31, 2023:
(In thousands)
Loans
Subject to
Normal
Monitoring(1)
Performing
Loans Subject to
Special
Monitoring(2)
Nonperforming
Loans Subject
to Special
Monitoring(2)
Total Loans
Commercial and industrial $498,502 $— $— $498,502 
Real estate
Commercial:
Mortgage 118,371 — — 118,371 
Construction 8,233 — — 8,233 
Faith-based:
Mortgage 375,865 5,503 — 381,368 
Construction 7,790 — — 7,790 
PPP — — — — 
Other54 — — 54 
Total $1,008,815 $5,503 $— $1,014,318 
(1)Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk and have the apparent ability to satisfy their loan obligation.
(2)Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a higher level of management attention.
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of December 31, 2022:
(In thousands)
Loans
Subject to
Normal
Monitoring(1)
Performing
Loans Subject to
Special
Monitoring(2)
Nonperforming
Loans Subject
to Special
Monitoring(2)
Total Loans
Commercial and industrial $549,241 $11,225 $1,150 $561,616 
Real estate
Commercial:
Mortgage 108,166 — — 108,166 
Construction 17,874 — — 17,874 
Faith-based:
Mortgage 386,169 945 — 387,114 
Construction 8,094 — — 8,094 
PPP— — — — 
Other42 — — 42 
Total $1,069,586 $12,170 $1,150 $1,082,906 
(1)Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk and have the apparent ability to satisfy their loan obligation.
(2)Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a higher level of management attention.
A summary of the ACL by category for the period ended December 31, 2023 is as follows:
(In thousands)C&ICREFaith-based CREConstructionTotal
Allowance for credit losses on loans:
Balance at December 31, 2022
$5,978 $940 $6,437 $184 $13,539 
(Release of) provision for credit losses (1)
(566)153 39 (76)(450)
Balance at December 31, 2023
$5,412 $1,093 $6,476 $108 $13,089 
(1)
For the period ended December 31, 2023, there was a release of credit losses of $100,000 for unfunded commitments.
A summary of the ACL by category for the period ended December 31, 2022 is as follows:
(In thousands)C&ICREFaith-based CREConstructionTotal
Allowance for credit losses on loans:
Balance at January 1, 2021$5,034 $1,031 $5,684 $292 $12,041 
Provision for (release of) credit losses (1)
931 (91)753 (108)1,485 
Recoveries 13 — — — 13 
Balance at December 31, 2022
$5,978 $940 $6,437 $184 $13,539 
(1)
For the period ended December 31, 2022, there was a release of credit losses of $135,000 for unfunded commitments.
As of December 31, 2023 and 2022, there were no loans to executive officers or directors, or their affiliates.
Summary of ACL by Category
A summary of the ACL by category for the period ended December 31, 2023 is as follows:
(In thousands)C&ICREFaith-based CREConstructionTotal
Allowance for credit losses on loans:
Balance at December 31, 2022
$5,978 $940 $6,437 $184 $13,539 
(Release of) provision for credit losses (1)
(566)153 39 (76)(450)
Balance at December 31, 2023
$5,412 $1,093 $6,476 $108 $13,089 
(1)
For the period ended December 31, 2023, there was a release of credit losses of $100,000 for unfunded commitments.
A summary of the ACL by category for the period ended December 31, 2022 is as follows:
(In thousands)C&ICREFaith-based CREConstructionTotal
Allowance for credit losses on loans:
Balance at January 1, 2021$5,034 $1,031 $5,684 $292 $12,041 
Provision for (release of) credit losses (1)
931 (91)753 (108)1,485 
Recoveries 13 — — — 13 
Balance at December 31, 2022
$5,978 $940 $6,437 $184 $13,539 
(1)
For the period ended December 31, 2022, there was a release of credit losses of $135,000 for unfunded commitments.