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Loans, net and allowance for loan losses | 9 Months Ended
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Sep. 30, 2022
Loans, net and allowance for loan losses |
Loans, net and allowance for loan losses | 5. Loans, net and allowance for loan losses: ​ The major classifications of loans outstanding, net of deferred loan origination fees and costs at September 30, 2022 and December 31, 2021 are summarized as follows. The Company had net deferred loan origination fees of $0.3 million and $1.6 million at September 30, 2022 and December 31, 2021, respectively. The decrease to the fees since year-end is due in part to the forgiveness by the Small Business Administration (“SBA”) of Paycheck Protection Program (“PPP”) loans. ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
At the period end |  | ​ | September 30, 2022 |  | December 31, 2021 |
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxable | ​ | $ | 371,164 | ​ | $ | 424,455 | ​
Non-taxable | ​ | ​ | 224,764 | ​ | ​ | 188,672 | ​
Total | ​ | ​ | 595,928 | ​ | ​ | 613,127 | ​
Real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | ​ | 1,620,116 | ​ |  | 1,343,539 | ​
Residential | ​ | ​ | 326,223 | ​ |  | 297,624 | ​
Total | ​ | ​ | 1,946,339 | ​ | ​ | 1,641,163 | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​
Indirect Auto | ​ | ​ | 70,006 | ​ | ​ | 65,791 | ​
Consumer Other | ​ | ​ | 11,433 | ​ |  | 9,092 | ​
Total | ​ | ​ | 81,439 | ​ | ​ | 74,883 | ​
Total | ​ | $ | 2,623,706 | ​ | $ | 2,329,173 | ​
​ PPP loans are forgivable, in whole or in part, if the proceeds are used for payroll and other permitted purposes in accordance with the requirements of the PPP. These loans carry a fixed rate of 1.00% and a term of two years or five years, if not forgiven, in whole or in part. Payments are deferred until either the date on which the SBA remits the amount of forgiveness proceeds to the lender or the date that is 10 months after the last day of the covered period if the borrower does not apply for forgiveness within that 10 month period. PPP fees are deferred and accreted into interest income over the contractual period of 24 months or 60 months, as applicable. Upon SBA forgiveness, unamortized fees are then recognized into interest income. ​ The Bank originated additional loans through the PPP, which expired on May 31, 2021. During 2021, the Bank had generated and received SBA approval on 1,062 PPP loans totaling $121.6 million and generated $4.4 million in related deferred PPP net fees. ​ Net deferred loan origination fees remaining related to PPP loans is $0.3 million at September 30, 2022, compared to $1.7 million at December 31, 2021. The PPP loans are included in the taxable commercial loan classification and had an outstanding balance at September 30, 2022 of $22.7 million comprised of $11.2 million remaining from those originated during 2021 as part of round two and $11.5 million remaining from loans originated during 2020 under round one of the program. At December 31, 2021, PPP loans had outstanding balances totaling $68.9 million. The PPP loans are risk rated ‘Pass’ and do not carry an allowance for loan losses due to a 100% SBA guarantee. At September 30, 2022 and December 31, 2021, the outstanding PPP balances were considered current. ​ The changes in the allowance for loan losses account by major classification of loan for the three and nine months ended September 30, 2022 and 2021 are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ |  | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2022 |  | Commercial |  | Commercial |  | Residential | ​ | Consumer | ​ | Total |
Allowance for loan losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning Balance July 1, 2022 | ​ | $ | 7,766 | ​ | $ | 17,569 | ​ | $ | 3,220 | ​ | $ | 819 | ​ | $ | 29,374 | ​
Charge-offs | ​ |  | ​ | ​ |  | (15) | ​ |  | ​ | ​ |  | (86) | ​ |  | (101) | ​
Recoveries | ​ |  | 10 | ​ |  | 32 | ​ |  | 1 | ​ |  | 56 | ​ |  | 99 | ​
Provisions (credits) | ​ |  | (5) | ​ |  | 437 | ​ |  | 9 | ​ |  | 9 | ​ |  | 450 | ​
Ending balance | ​ | $ | 7,771 | ​ | $ | 18,023 | ​ | $ | 3,230 | ​ | $ | 798 | ​ | $ | 29,822 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2021 |  | Commercial |  | Commercial |  | Residential | ​ | Consumer | ​ | Total |
Allowance for loan losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning Balance July 1, 2021 | ​ | $ | 8,520 | ​ | $ | 14,281 | ​ | $ | 3,069 | ​ | $ | 869 | ​ | $ | 26,739 | ​
Charge-offs | ​ |  | (446) | ​ |  | (12) | ​ |  | ​ | ​ |  | (8) | ​ |  | (466) | ​
Recoveries | ​ |  | 4 | ​ |  | 1 | ​ |  | ​ | ​ |  | 15 | ​ |  | 20 | ​
Provisions (credits) | ​ |  | (164) | ​ |  | 519 | ​ |  | 92 | ​ |  | (47) | ​ |  | 400 | ​
Ending balance | ​ | $ | 7,914 |  | $ | 14,789 | ​ | $ | 3,161 | ​ | $ | 829 | ​ | $ | 26,693 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2022 |  | Commercial |  | Commercial |  | Residential | ​ | Consumer | ​ | Total | ​
Allowance for loan losses: |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning Balance January 1, 2022 |  | $ | 8,453 | ​ | $ | 15,928 | ​ | $ | 3,209 | ​ | $ | 793 | ​ | $ | 28,383 | ​
Charge-offs |  |  | (161) | ​ |  | (147) | ​ |  | (2) | ​ |  | (244) | ​ |  | (554) | ​
Recoveries |  |  | 39 | ​ |  | 109 | ​ |  | 4 | ​ |  | 141 | ​ |  | 293 | ​
Provisions (credits) |  |  | (560) | ​ |  | 2,133 | ​ |  | 19 | ​ |  | 108 | ​ |  | 1,700 | ​
Ending balance |  | $ | 7,771 |  | $ | 18,023 | ​ | $ | 3,230 | ​ | $ | 798 | ​ | $ | 29,822 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​
September 30, 2021 |  | Commercial |  | Commercial |  | Residential | ​ | Consumer | ​ | Total | ​
Allowance for loan losses: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Beginning Balance January 1, 2021 | ​ | $ | 8,734 | ​ | $ | 14,559 | ​ | $ | 3,129 | ​ | $ | 922 | ​ | $ | 27,344 | ​
Charge-offs | ​ |  | (461) | ​ |  | (252) | ​ |  | (24) | ​ |  | (114) | ​ |  | (851) | ​
Recoveries | ​ |  | 83 | ​ |  | 67 | ​ |  | 2 | ​ |  | 48 | ​ |  | 200 | ​
Provisions (credits) | ​ |  | (442) | ​ |  | 415 | ​ |  | 54 | ​ |  | (27) | ​ |  | — | ​
Ending balance | ​ | $ | 7,914 | ​ | $ | 14,789 | ​ | $ | 3,161 | ​ | $ | 829 | ​ | $ | 26,693 | ​
​ ​ The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2022 and December 31, 2021 is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ |
September 30, 2022 |  | Commercial |  | Commercial |  | Residential |  | Consumer |  | Total |
Allowance for loan losses: | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance | ​ | $ | 7,771 | ​ | $ | 18,023 |  | $ | 3,230 | ​ | $ | 798 | ​ | $ | 29,822 |
Ending balance: individually evaluated for impairment |  |  | 19 | ​ | ​ | 1 | ​ | ​ | 21 | ​ | ​ | ​ | ​ |  | 41 |
Ending balance: collectively evaluated for impairment |  | $ | 7,752 | ​ | $ | 18,022 | ​ | $ | 3,209 | ​ | $ | 798 | ​ | $ | 29,781 |
Loans receivable: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance | ​ | $ | 595,928 | ​ | $ | 1,620,116 |  | $ | 326,223 | ​ | $ | 81,439 | ​ | $ | 2,623,706 |
Ending balance: individually evaluated for impairment | ​ |  | 114 | ​ | ​ | 2,721 | ​ | ​ | 1,161 | ​ | ​ | ​ | ​ |  | 3,996 |
Ending balance: collectively evaluated for impairment | ​ | $ | 595,814 | ​ | $ | 1,617,395 | ​ | $ | 325,062 | ​ | $ | 81,439 | ​ | $ | 2,619,710 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ |  | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ |
December 31, 2021 |  | Commercial |  | Commercial |  | Residential |  | Consumer |  | Total |
Allowance for loan losses: | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance | ​ | $ | 8,453 | ​ | $ | 15,928 |  | $ | 3,209 | ​ | $ | 793 | ​ | $ | 28,383 |
Ending balance: individually evaluated for impairment |  |  | 40 | ​ | ​ | 109 | ​ | ​ | 26 | ​ | ​ | ​ | ​ |  | 175 |
Ending balance: collectively evaluated for impairment |  | $ | 8,413 | ​ | $ | 15,819 | ​ | $ | 3,183 | ​ | $ | 793 | ​ | $ | 28,208 |
Loans receivable: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance | ​ | $ | 613,127 | ​ | $ | 1,343,539 |  | $ | 297,624 | ​ | $ | 74,883 | ​ | $ | 2,329,173 |
Ending balance: individually evaluated for impairment | ​ |  | 199 | ​ | ​ | 2,889 | ​ | ​ | 1,274 | ​ | ​ | ​ | ​ |  | 4,362 |
Ending balance: collectively evaluated for impairment | ​ | $ | 612,928 | ​ | $ | 1,340,650 | ​ | $ | 296,350 | ​ | $ | 74,883 | ​ | $ | 2,324,811 |
​ ​ The Company segments 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. Loans are individually analyzed for credit risk by classifying them within the Company’s internal risk rating system. The Company’s risk rating classifications are defined as follows: ​
| ● | Pass- A loan to borrowers with acceptable credit quality and risk that is not adversely classified as Substandard, Doubtful, Loss nor designated as Special Mention.
​
| ● | Special Mention- A loan that has potential weaknesses that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Special Mention loans are not adversely classified since they do not expose the Company to sufficient risk to warrant adverse classification.
​
| ● | Substandard- A loan that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected.
​
| ● | Doubtful – A loan classified as Doubtful has all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable.
​
| ● | Loss- A loan classified as Loss is considered uncollectible and of such little value that its continuance as bankable loan is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be affected in the future.
​ The following tables present the major classification of loans summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system at September 30, 2022 and December 31, 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Special | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
September 30, 2022 |  | Pass |  | Mention |  | Substandard |  | Doubtful |  | Total |
Commercial | ​ | $ | 587,033 | ​ | $ | 8,065 | ​ | $ | 830 | ​ | $ | ​ | ​ | $ | 595,928 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,606,076 | ​ |  | 7,722 | ​ |  | 6,318 | ​ | ​ | ​ | ​ |  | 1,620,116 | ​
Residential | ​ |  | 324,452 | ​ |  | 114 | ​ |  | 1,657 | ​ | ​ | ​ | ​ |  | 326,223 | ​
Consumer | ​ |  | 81,170 | ​ |  | ​ | ​ |  | 269 | ​ | ​ | ​ | ​ |  | 81,439 | ​
Total | ​ | $ | 2,598,731 | ​ | $ | 15,901 | ​ | $ | 9,074 | ​ | $ | ​ | ​ | $ | 2,623,706 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Special | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
December 31, 2021 |  | Pass |  | Mention |  | Substandard |  | Doubtful |  | Total |
Commercial | ​ | $ | 611,151 | ​ | $ | 896 | ​ | $ | 1,080 | ​ | $ | ​ | ​ | $ | 613,127 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,324,646 | ​ |  | 13,939 | ​ |  | 4,954 | ​ | ​ | ​ | ​ |  | 1,343,539 | ​
Residential | ​ |  | 294,892 | ​ |  | 333 | ​ |  | 2,399 | ​ | ​ | ​ | ​ |  | 297,624 | ​
Consumer | ​ |  | 74,744 | ​ |  | ​ | ​ |  | 139 | ​ | ​ | ​ | ​ |  | 74,883 | ​
Total | ​ | $ | 2,305,433 | ​ | $ | 15,168 | ​ | $ | 8,572 | ​ | $ | ​ | ​ | $ | 2,329,173 | ​
​ The increase to special mention commercial loans is primarily the result of the downgrade of one credit with an outstanding balance of $7.8 million, due to insufficient cash flows as the borrower’s operations have not stabilized in the anticipated timeframe. The decrease to special mention commercial real estate loans is due in part to an upgrade of a $3.5 million credit resulting from improved financial performance and satisfactory repayment history and the payoff of a $2.4 million credit. The increase to substandard commercial real estate loans is primarily due to the downgrade of three credits totaling $1.7 million as a result of repayment uncertainty. These downgrades were offset by the payoff/reduction of various credits. Substandard residential real estate loans decreased $0.7 million primarily due to the payoff of a $0.5 million credit. ​ Information concerning nonaccrual loans by major loan classification at September 30, 2022 and December 31, 2021 is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | September 30, 2022 |  | ​ | December 31, 2021 |
Commercial | ​ | $ | 102 | ​ | $ | 185 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,787 | ​ |  | 1,793 | ​
Residential | ​ |  | 423 | ​ |  | 694 | ​
Consumer | ​ |  | 245 | ​ |  | 139 | ​
Total | ​ | $ | 2,557 | ​ | $ | 2,811 | ​
​ Nonaccrual loans decreased $254 thousand from year end December 31, 2021 due to decreases in commercial, commercial real estate and residential loans, partially offset by increases in consumer loans. ​ The major classifications of loans by past due status are summarized as follows: ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | Greater |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Loans > 90 |
​ | ​ | 30-59 Days | ​ | 60-89 Days | ​ | than 90 | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Days and |
September 30, 2022 | ​ | Past Due | ​ | Past Due | ​ | Days | ​ | Due | ​ | Current | ​ | Total Loans | ​ | Accruing |
Commercial | ​ | $ | 35 | ​ | $ | ​ | ​ | $ | 102 | ​ | $ | 137 | ​ | $ | 595,791 | ​ | $ | 595,928 | ​ | $ | ​ | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 146 | ​ | ​ | 605 | ​ |  | 330 | ​ |  | 1,081 | ​ |  | 1,619,035 | ​ |  | 1,620,116 | ​ | ​ | ​ | ​
Residential | ​ |  | 341 | ​ | ​ | 640 | ​ | ​ | 565 | ​ |  | 1,546 | ​ |  | 324,677 | ​ |  | 326,223 | ​ | ​ | 280 | ​
Consumer | ​ |  | 405 | ​ | ​ | 234 | ​ |  | 98 | ​ |  | 737 | ​ |  | 80,702 | ​ |  | 81,439 | ​ |  | ​ | ​
Total | ​ | $ | 927 | ​ | $ | 1,479 | ​ | $ | 1,095 | ​ | $ | 3,501 | ​ | $ | 2,620,205 | ​ | $ | 2,623,706 | ​ | $ | 280 | ​
​ Improved credit quality resulted in lower levels of past due loans from year end. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | ​ | ​ |  | ​ | ​ |  | Greater |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Loans > 90 |
​ | ​ | 30-59 Days | ​ | 60-89 Days | ​ | than 90 | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Days and |
December 31, 2021 | ​ | Past Due | ​ | Past Due | ​ | Days | ​ | Due | ​ | Current | ​ | Total Loans | ​ | Accruing |
Commercial | ​ | $ | 101 | ​ | ​ | 155 | ​ | $ | 158 | ​ | $ | 414 | ​ | $ | 612,713 | ​ | $ | 613,127 | ​ | $ | ​ | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 768 | ​ | $ | 423 | ​ |  | 834 | ​ |  | 2,025 | ​ |  | 1,341,514 | ​ |  | 1,343,539 | ​ | ​ | ​ | ​
Residential | ​ |  | 1,552 | ​ |  | 207 | ​ |  | 265 | ​ |  | 2,024 | ​ |  | 295,600 | ​ |  | 297,624 | ​ | ​ | 13 | ​
Consumer | ​ |  | 477 | ​ |  | 163 | ​ |  | 51 | ​ |  | 691 | ​ |  | 74,192 | ​ |  | 74,883 | ​ |  | ​ | ​
Total | ​ | $ | 2,898 | ​ | $ | 948 | ​ | $ | 1,308 | ​ | $ | 5,154 | ​ | $ | 2,324,019 | ​ | $ | 2,329,173 | ​ | $ | 13 | ​
​ The following tables summarize information concerning impaired loans as of and for the three and nine months ended September 30, 2022 and September 30, 2021, and as of and for the year ended December 31, 2021 by major loan classification: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | This Quarter | ​ | Year-to-Date | ​
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | Average | ​ | Interest |  | Average | ​ | Interest |
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Income |  | Recorded | ​ | Income |
September 30, 2022 |  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized |  | Investment |  | Recognized |
With no related allowance: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​
Commercial | ​ | $ | 94 | ​ | $ | 425 | ​ | ​ | ​ | ​ | $ | 110 | ​ | $ | 3 | ​ | $ | 129 | ​ | $ | 7 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,389 | ​ |  | 3,193 | ​ | ​ | ​ | ​ |  | 2,431 | ​ |  | 9 | ​ |  | 2,497 | ​ |  | 31 | ​
Residential | ​ |  | 918 | ​ |  | 1,102 | ​ | ​ | ​ | ​ |  | 957 | ​ |  | 6 | ​ |  | 915 | ​ |  | 16 | ​
Consumer | ​ |  | 245 | ​ |  | 256 | ​ | ​ | ​ | ​ |  | 258 | ​ | ​ | ​ | ​ |  | 215 | ​ | ​ | ​ | ​
Total | ​ |  | 3,646 | ​ |  | 4,976 | ​ | ​ | ​ | ​ |  | 3,756 | ​ |  | 18 | ​ |  | 3,756 | ​ |  | 54 | ​
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 20 | ​ |  | 20 | ​ | $ | 19 | ​ |  | 27 | ​ |  | — | ​ |  | 29 | ​ |  | — | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 332 | ​ |  | 332 | ​ |  | 1 | ​ |  | 381 | ​ |  | 7 | ​ |  | 429 | ​ |  | 15 | ​
Residential | ​ |  | 243 | ​ |  | 247 | ​ |  | 21 | ​ |  | 257 | ​ |  | 3 | ​ |  | 297 | ​ |  | 9 | ​
Total | ​ |  | 595 | ​ |  | 599 | ​ |  | 41 | ​ |  | 665 | ​ |  | 10 | ​ |  | 755 | ​ |  | 24 | ​
Total impaired loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 114 | ​ |  | 445 | ​ |  | 19 | ​ |  | 137 | ​ |  | 3 | ​ |  | 158 | ​ |  | 7 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,721 | ​ |  | 3,525 | ​ |  | 1 | ​ |  | 2,812 | ​ |  | 16 | ​ |  | 2,926 | ​ |  | 46 | ​
Residential | ​ |  | 1,161 | ​ |  | 1,349 | ​ |  | 21 | ​ |  | 1,214 | ​ |  | 9 | ​ |  | 1,212 | ​ |  | 25 | ​
Consumer | ​ |  | 245 | ​ |  | 256 | ​ |  | ​ | ​ |  | 258 | ​ |  | ​ | ​ |  | 215 | ​ |  | ​ | ​
Total | ​ | $ | 4,241 | ​ | $ | 5,575 | ​ | $ | 41 | ​ | $ | 4,421 | ​ | $ | 28 | ​ | $ | 4,511 | ​ | $ | 78 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the Year Ended |
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | Average | ​ | Interest |
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Income |
December 31, 2021 |  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized |
With no related allowance: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
Commercial | ​ | $ | 158 | ​ | $ | 481 | ​ | ​ | ​ | ​ | $ | 964 | ​ | $ | 13 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,376 | ​ |  | 3,120 | ​ | ​ | ​ | ​ |  | 2,719 | ​ |  | 22 | ​
Residential | ​ |  | 873 | ​ |  | 1,073 | ​ | ​ | ​ | ​ |  | 1,016 | ​ |  | 19 | ​
Consumer | ​ |  | 139 | ​ |  | 148 | ​ | ​ | ​ | ​ |  | 100 | ​ | ​ | ​ | ​
Total | ​ |  | 3,546 | ​ |  | 4,822 | ​ | ​ | ​ | ​ |  | 4,799 | ​ |  | 54 | ​
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 41 | ​ |  | 41 | ​ | ​ | 40 | ​ |  | 1,091 | ​ |  | 15 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 513 | ​ |  | 543 | ​ |  | 109 | ​ |  | 802 | ​ |  | 22 | ​
Residential | ​ |  | 401 | ​ |  | 401 | ​ |  | 26 | ​ |  | 436 | ​ |  | 13 | ​
Consumer | ​ | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Total | ​ |  | 955 | ​ |  | 985 | ​ |  | 175 | ​ |  | 2,329 | ​ |  | 50 | ​
Total impaired loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 199 | ​ |  | 522 | ​ |  | 40 | ​ |  | 2,055 | ​ |  | 28 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,889 | ​ |  | 3,663 | ​ |  | 109 | ​ |  | 3,521 | ​ |  | 44 | ​
Residential | ​ |  | 1,274 | ​ |  | 1,474 | ​ |  | 26 | ​ |  | 1,452 | ​ |  | 32 | ​
Consumer | ​ |  | 139 | ​ |  | 148 | ​ |  | ​ | ​ |  | 100 | ​ |  | ​ | ​
Total | ​ | $ | 4,501 | ​ | $ | 5,807 | ​ | $ | 175 | ​ | $ | 7,128 | ​ | $ | 104 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | This Quarter | ​ | Year-to-Date | ​
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | Average | ​ | Interest |  | Average | ​ | Interest |
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Income |  | Recorded | ​ | Income |
September 30, 2021 |  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized |  | Investment |  | Recognized |
With no related allowance: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​
Commercial | ​ | $ | 634 | ​ | $ | 1,097 | ​ | ​ | ​ | ​ | $ | 870 | ​ | $ | 2 | ​ | $ | 1,166 | ​ | $ | 9 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,560 | ​ |  | 3,275 | ​ | ​ | ​ | ​ |  | 2,785 | ​ | ​ | 4 | ​ |  | 2,805 | ​ | ​ | 19 | ​
Residential | ​ |  | 991 | ​ |  | 1,184 | ​ | ​ | ​ | ​ |  | 999 | ​ | ​ | 5 | ​ |  | 1,051 | ​ | ​ | 15 | ​
Consumer | ​ |  | 82 | ​ |  | 96 | ​ | ​ | ​ | ​ |  | 79 | ​ | ​ | ​ | ​ |  | 91 | ​ | ​ | ​ | ​
Total | ​ |  | 4,267 | ​ |  | 5,652 | ​ | ​ | ​ | ​ |  | 4,733 | ​ | ​ | 11 | ​ |  | 5,113 | ​ | ​ | 43 | ​
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 424 | ​ |  | 424 | ​ | $ | 18 | ​ |  | 695 | ​ | ​ | 5 | ​ |  | 1,354 | ​ | ​ | 15 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 534 | ​ |  | 564 | ​ |  | 107 | ​ |  | 604 | ​ |  | 4 | ​ |  | 875 | ​ |  | 14 | ​
Residential | ​ |  | 440 | ​ |  | 446 | ​ |  | 41 | ​ |  | 450 | ​ |  | 3 | ​ |  | 445 | ​ |  | 10 | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ |  | 1,398 | ​ |  | 1,434 | ​ |  | 166 | ​ |  | 1,749 | ​ |  | 12 | ​ |  | 2,674 | ​ |  | 39 | ​
Total impaired loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,058 | ​ |  | 1,521 | ​ |  | 18 | ​ |  | 1,565 | ​ |  | 7 | ​ |  | 2,520 | ​ |  | 24 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 3,094 | ​ |  | 3,839 | ​ |  | 107 | ​ |  | 3,389 | ​ |  | 8 | ​ |  | 3,680 | ​ |  | 33 | ​
Residential | ​ |  | 1,431 | ​ |  | 1,630 | ​ |  | 41 | ​ |  | 1,449 | ​ |  | 8 | ​ |  | 1,496 | ​ |  | 25 | ​
Consumer | ​ |  | 82 | ​ |  | 96 | ​ | ​ | ​ | ​ |  | 79 | ​ | ​ | ​ | ​ |  | 91 | ​ | ​ | ​ | ​
Total | ​ | $ | 5,665 | ​ | $ | 7,086 | ​ | $ | 166 | ​ | $ | 6,482 | ​ | $ | 23 | ​ | $ | 7,787 | ​ | $ | 82 | ​
​ Loan Modifications/Troubled Debt Restructurings/COVID-19 Included in the commercial real estate and residential real estate categories are troubled debt restructurings that are classified as impaired. Troubled debt restructurings totaled $1.4 million at September 30, 2022, $1.6 million at December 31, 2021 and $2.6 million at September 30, 2021. ​ Troubled debt restructured loans are loans with original terms, interest rate, or both, that have been modified as a result of a deterioration in the borrower’s financial condition and a concession has been granted that the Company would not otherwise consider. Unless on nonaccrual, interest income on these loans is recognized when earned, using the interest method. The Company offers a variety of modifications to borrowers that would be considered concessions. The modification categories offered generally fall within the following categories: ​
| ● | Rate Modification - A modification in which the interest rate is changed to a below market rate.
​
| ● | Term Modification - A modification in which the maturity date, timing of payments or frequency of payments is changed.
​
| ● | Payment Modification - A modification in which the dollar amount of the payment is changed, other than an interest only modification described above.
​
| ● | Combination Modification - Any other type of modification, including the use of multiple categories above.
​ There were no loans modified as troubled debt restructurings during the nine months ended September 30, 2022 or 2021. ​ During the three months and nine ended September 30, 2022 or 2021, there were no payment defaults on troubled debt restructurings.

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