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Loans, net and allowance for loan losses | 12 Months Ended
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Dec. 31, 2022
Loans, net and allowance for loan losses |
Loans, net and allowance for loan losses | 4. Loans, net and allowance for loan losses: The major classifications of loans outstanding, net of deferred loan origination fees and costs at December 31, 2022 and 2021 are summarized as follows. Net deferred loan fees of $0.3 million and $1.6 million are included in loan balances at December 31, 2022 and 2021, respectively. The decrease in deferred loan fees is due in part to PPP forgiveness during 2022. Net deferred loan origination fees remaining related to PPP loans is $0.2 million at December 31, 2022. Included in the commercial balances at December 31, 2022 are PPP loans that had an outstanding balance at December 31, 2022 of $22.3 million comprised of $10.9 million remaining from those originated during 2021 as part of round two and $11.4 million remaining from loans originated during 2020 under round one of the program. The PPP loans are risk rated ‘Pass’ and do not carry an allowance for loan losses due to a 100 percent SBA guarantee. The outstanding balance is considered current at December 31, 2022. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | ​ | December 31, 2022 |  | December 31, 2021 |
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​
Taxable | ​ | $ | 377,215 | ​ | $ | 424,455 | ​
Non-taxable | ​ | ​ | 222,043 | ​ | ​ | 188,672 | ​
Total | ​ | ​ | 599,258 | ​ | ​ | 613,127 | ​
Real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ | ​ | 1,709,827 | ​ |  | 1,343,539 | ​
Residential | ​ | ​ | 330,728 | ​ |  | 297,624 | ​
Total | ​ | ​ | 2,040,555 | ​ | ​ | 1,641,163 | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​
Indirect Auto | ​ | ​ | 76,461 | ​ | ​ | 65,791 | ​
Consumer Other | ​ | ​ | 13,842 | ​ |  | 9,092 | ​
Total | ​ | ​ | 90,303 | ​ | ​ | 74,883 | ​
Total | ​ | $ | 2,730,116 | ​ | $ | 2,329,173 | ​
​ Loans outstanding to directors, executive officers, principal stockholders or to their affiliates totaled $3.2 million at December 31, 2022 and 2021. Advances and new loans during 2022 totaled $1.1 million and $4.8 million during 2021. Payoffs and pay downs totaled $1.1 million and $6.6 million in 2022 and 2021, respectively. There were no related party loans that were classified as nonaccrual, past due, or restructured at December 31, 2022 and 2021. Deposits from related parties amounted to $6.8 million at December 31, 2022 and $10.9 million at December 31, 2021. At December 31, 2022, the majority of the Company’s loans were at least partially secured by real estate in the markets we operate in. Therefore, a primary concentration of credit risk is directly related to the real estate market in these regions. Changes in the general economy, local economy or in the real estate market could affect the ultimate collectability of this portion of the loan portfolio. Management does not believe there are any other significant concentrations of credit risk that could affect the loan portfolio. The changes in the allowance for loan losses account by major classification of loan for the year ended December 31, 2022, 2021, and 2020 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 |
​ | ​ | ​ | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ |
(Dollars in thousands) | ​ | Commercial | ​ | Commercial | ​ | Residential | ​ | Consumer | ​ | Total |
Allowance for loan losses: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  |  | ​ | ​ | ​
Beginning balance | ​ | $ | 8,453 | ​ | $ | 15,928 | ​ | $ | 3,209 | ​ | $ | 793 | ​ | $ | 28,383 | ​
Charge-offs | ​ |  | (161) | ​ |  | (284) | ​ |  | (31) | ​ |  | (311) | ​ |  | (787) | ​
Recoveries | ​ |  | 40 | ​ |  | 110 | ​ |  | 4 | ​ |  | 171 | ​ |  | 325 | ​
Provisions (credits) | ​ |  | (2,720) | ​ |  | 2,161 | ​ |  | (110) | ​ |  | 220 | ​ |  | (449) | ​
Ending balance | ​ | $ | 5,612 | ​ | $ | 17,915 | ​ | $ | 3,072 | ​ | $ | 873 | ​ | $ | 27,472 | ​
Ending balance: individually evaluated for impairment | ​ |  | 19 | ​ |  | ​ | ​ |  | 21 | ​ |  | ​ | ​ |  | 40 | ​
Ending balance: collectively evaluated for impairment | ​ | $ | 5,593 | ​ | $ | 17,915 | ​ | $ | 3,051 | ​ | $ | 873 | ​ | $ | 27,432 | ​
Loans receivable: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance | ​ | $ | 599,258 | ​ | $ | 1,709,827 | ​ | $ | 330,728 | ​ | $ | 90,303 | ​ | $ | 2,730,116 | ​
Ending balance: individually evaluated for impairment | ​ |  | 98 | ​ |  | 2,063 | ​ |  | 1,760 | ​ | ​ | ​ | ​ |  | 3,921 | ​
Ending balance: collectively evaluated for impairment | ​ | $ | 599,160 | ​ | $ | 1,707,764 | ​ | $ | 328,968 | ​ | $ | 90,303 | ​ | $ | 2,726,195 | ​
​ ​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021
​ | ​ | ​ | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ |
(Dollars in thousands) | ​ | Commercial | ​ | Commercial | ​ | Residential | ​ | Consumer | ​ | Total
Allowance for loan losses: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ |  |  | ​ | ​
Beginning balance | ​ | $ | 8,734 | ​ | $ | 14,559 | ​ | $ | 3,129 | ​ | $ | 922 | ​ | $ | 27,344
Charge-offs | ​ |  | (492) | ​ |  | (252) | ​ |  | (24) | ​ |  | (188) | ​ |  | (956)
Recoveries | ​ |  | 89 | ​ |  | 68 | ​ |  | 7 | ​ |  | 81 | ​ |  | 245
Provisions | ​ |  | 122 | ​ |  | 1,553 | ​ |  | 97 | ​ |  | (22) | ​ |  | 1,750
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 | ​ |  | 2,890 | ​ |  | 1,273 | ​ | ​ | ​ | ​ |  | 4,362
Ending balance: collectively evaluated for impairment | ​ | $ | 612,928 | ​ | $ | 1,340,649 | ​ | $ | 296,351 | ​ | $ | 74,883 | ​ | $ | 2,324,811
​ ​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020 | ​
​ | ​ | ​ | ​ | ​ | Real estate | ​ | ​ | ​ | ​ | ​ | ​ |
(Dollars in thousands) | ​ | Commercial | ​ | Commercial | ​ | Residential | ​ | Consumer | ​ | Total |
Allowance for loan losses: |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​
Beginning balance | ​ | $ | 6,888 | ​ | $ | 11,496 | ​ | $ | 3,226 | ​ | $ | 1,067 | ​ | $ | 22,677 | ​
Charge-offs | ​ |  | (2,771) | ​ |  | (144) | ​ |  | (247) | ​ |  | (317) | ​ |  | (3,479) | ​
Recoveries | ​ |  | 525 | ​ |  | 16 | ​ |  | 57 | ​ |  | 148 | ​ |  | 746 | ​
Provisions (credit) | ​ |  | 4,092 | ​ |  | 3,191 | ​ |  | 93 | ​ |  | 24 | ​ |  | 7,400 | ​
Ending balance | ​ | $ | 8,734 | ​ | $ | 14,559 | ​ | $ | 3,129 | ​ | $ | 922 | ​ | $ | 27,344 | ​
Ending balance: individually evaluated for impairment | ​ |  | 947 | ​ |  | 180 | ​ |  | 75 | ​ |  | ​ | ​ |  | 1,202 | ​
Ending balance: collectively evaluated for impairment | ​ | $ | 7,787 | ​ | $ | 14,379 | ​ | $ | 3,054 | ​ | $ | 922 | ​ | $ | 26,142 | ​
Loans receivable: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Ending balance | ​ | $ | 679,286 | ​ | $ | 1,137,990 | ​ | $ | 277,414 | ​ | $ | 83,292 | ​ | $ | 2,177,982 | ​
Ending balance: individually evaluated for impairment | ​ | ​ | 4,297 | ​ |  | 3,952 | ​ |  | 1,546 | ​ | ​ | ​ | ​ |  | 9,795 | ​
Ending balance: collectively evaluated for impairment | ​ | $ | 674,989 | ​ | $ | 1,134,038 | ​ | $ | 275,868 | ​ | $ | 83,292 | ​ | $ | 2,168,187 | ​
​ 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 December 31, 2022 and 2021: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 |
​ | ​ | ​ | ​ | ​ | Special | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | Pass |  | Mention |  | Substandard |  | Doubtful |  | Total |
Commercial | ​ | $ | 590,621 | ​ | $ | 7,822 | ​ | $ | 815 | ​ | $ | ​ | ​ | $ | 599,258 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,699,041 | ​ |  | 7,509 | ​ |  | 3,277 | ​ | ​ | ​ | ​ |  | 1,709,827 | ​
Residential | ​ |  | 329,098 | ​ |  | ​ | ​ |  | 1,630 | ​ | ​ | ​ | ​ |  | 330,728 | ​
Consumer | ​ |  | 90,020 | ​ |  | ​ | ​ |  | 283 | ​ | ​ | ​ | ​ |  | 90,303 | ​
Total | ​ | $ | 2,708,780 | ​ | $ | 15,331 | ​ | $ | 6,005 | ​ | $ | ​ | ​ | $ | 2,730,116 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 | ​
​ | ​ | ​ | ​ | ​ | Special | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |
(Dollars in thousands) |  | 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 from December 31, 2022 to December 31, 2021 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. 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 December 31, 2022 and 2021 is summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | ​ | December 31, 2022 |  | ​ | December 31, 2021 |
Commercial | ​ | $ | 86 | ​ | $ | 185 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,155 | ​ |  | 1,793 | ​
Residential | ​ |  | 562 | ​ |  | 694 | ​
Consumer | ​ |  | 232 | ​ |  | 139 | ​
Total | ​ | $ | 2,035 | ​ | $ | 2,811 | ​
​ Total nonperforming loans decreased $0.8 million to $2.0 million at December 31, 2022 from $2.8 million at December 31, 2021 as a result of lower nonaccrual commercial real estate loans. The decrease in nonperforming loans was due to the sale of a pool of commercial and residential nonaccrual loans with a book balance of $0.9 million. The sale resulted in a $0.1 million charge to the allowance for loan losses. The major classification of loans by past due status at December 31, 2022 and 2021 are summarized as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2022 |
​ |  | ​ | ​ |  | ​ | ​ |  | Greater |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Loans > 90 |
​ | ​ | 30-59 Days | ​ | 60-89 Days | ​ | than 90 | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Days and |
(Dollars in thousands) | ​ | Past Due | ​ | Past Due | ​ | Days | ​ | Due | ​ | Current | ​ | Total Loans | ​ | Accruing |
Commercial | ​ | $ | 137 | ​ | $ | 38 | ​ | $ | 86 | ​ | $ | 261 | ​ | $ | 598,997 | ​ | $ | 599,258 | ​ | $ | ​ | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 102 | ​ | ​ | 2 | ​ |  | 334 | ​ |  | 438 | ​ |  | 1,709,389 | ​ |  | 1,709,827 | ​ | ​ | ​ | ​
Residential | ​ |  | 1,162 | ​ | ​ | 128 | ​ | ​ | 988 | ​ |  | 2,278 | ​ |  | 328,450 | ​ |  | 330,728 | ​ | ​ | 748 | ​
Consumer | ​ |  | 690 | ​ | ​ | 199 | ​ |  | 120 | ​ |  | 1,009 | ​ |  | 89,294 | ​ |  | 90,303 | ​ |  | ​ | ​
Total | ​ | $ | 2,091 | ​ | $ | 367 | ​ | $ | 1,528 | ​ | $ | 3,986 | ​ | $ | 2,726,130 | ​ | $ | 2,730,116 | ​ | $ | 748 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2021 |
​ |  | ​ | ​ |  | ​ | ​ |  | Greater |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | Loans > 90 |
​ | ​ | 30-59 Days | ​ | 60-89 Days | ​ | than 90 | ​ | Total Past | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Days and |
(Dollars in thousands) | ​ | 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 | ​
​ Total past due loans at December 31, 2021 decreased $1.2 million to $4.0 million from $5.2 million the prior year as a result of lower commercial real estate delinquencies. The amount of residential loans in the formal process of foreclosure totaled $0.6 million at December 31, 2022 and $0.3 million at December 31, 2021. The following tables summarize information concerning impaired loans as of and for the years ended December 31, 2022, 2021 and 2020 by major loan classification: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the Year Ended | ​
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | Average | ​ | Interest |
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Income |
(Dollars in thousands) |  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized |
With no related allowance: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
Commercial | ​ | $ | 78 | ​ | $ | 421 | ​ | $ | ​ | ​ | $ | 119 | ​ | $ | 7 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,063 | ​ |  | 2,654 | ​ | ​ | ​ | ​ |  | 2,753 | ​ |  | 59 | ​
Residential | ​ |  | 1,520 | ​ |  | 1,733 | ​ | ​ | ​ | ​ |  | 1,036 | ​ |  | 28 | ​
Consumer | ​ |  | 232 | ​ |  | 244 | ​ | ​ | ​ | ​ |  | 218 | ​ | ​ | ​ | ​
Total | ​ |  | 3,893 | ​ |  | 5,052 | ​ | ​ | ​ | ​ |  | 4,126 | ​ |  | 94 | ​
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 20 | ​ |  | 20 | ​ | ​ | 19 | ​ |  | 27 | ​ |  | 2 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential | ​ |  | 240 | ​ |  | 244 | ​ |  | 21 | ​ |  | 286 | ​ |  | 12 | ​
Total | ​ |  | 260 | ​ |  | 264 | ​ |  | 40 | ​ |  | 313 | ​ |  | 14 | ​
Total impaired loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 98 | ​ |  | 441 | ​ |  | 19 | ​ |  | 146 | ​ |  | 9 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,063 | ​ |  | 2,654 | ​ |  | ​ | ​ |  | 2,753 | ​ |  | 59 | ​
Residential | ​ |  | 1,760 | ​ |  | 1,977 | ​ |  | 21 | ​ |  | 1,322 | ​ |  | 40 | ​
Consumer | ​ |  | 232 | ​ |  | 244 | ​ |  | ​ | ​ |  | 218 | ​ |  | ​ | ​
Total | ​ | $ | 4,153 | ​ | $ | 5,316 | ​ | $ | 40 | ​ | $ | 4,439 | ​ | $ | 108 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2021 |
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the Year Ended |
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | Average | ​ | Interest |
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Income |
(Dollars in thousands) |  | 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 | ​
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2020 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | For the Year Ended | ​
​ | ​ | ​ | ​ | ​ | Unpaid | ​ | ​ | ​ | ​ | Average | ​ | Interest |
​ | ​ | Recorded | ​ | Principal | ​ | Related | ​ | Recorded | ​ | Income |
(Dollars in thousands) |  | Investment |  | Balance |  | Allowance |  | Investment |  | Recognized |
With no related allowance: |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ | ​
Commercial | ​ | $ | 2,251 | ​ | $ | 3,421 | ​ | $ | ​ | ​ | $ | 2,915 | ​ | $ | 30 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,372 | ​ |  | 2,964 | ​ | ​ | ​ | ​ |  | 2,148 | ​ | ​ | 28 | ​
Residential | ​ |  | 1,086 | ​ |  | 1,263 | ​ | ​ | ​ | ​ |  | 1,223 | ​ | ​ | 21 | ​
Consumer | ​ |  | 111 | ​ |  | 121 | ​ | ​ | ​ | ​ |  | 167 | ​ | ​ | ​ | ​
Total | ​ |  | 5,820 | ​ |  | 7,769 | ​ | ​ | ​ | ​ |  | 6,453 | ​ | ​ | 79 | ​
With an allowance recorded: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 2,046 | ​ |  | 2,094 | ​ | ​ | 947 | ​ |  | 2,038 | ​ | ​ | 17 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 1,580 | ​ |  | 1,710 | ​ |  | 180 | ​ |  | 1,687 | ​ |  | 36 | ​
Residential | ​ |  | 460 | ​ |  | 482 | ​ |  | 75 | ​ |  | 624 | ​ |  | 13 | ​
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ |  | 4,086 | ​ |  | 4,286 | ​ |  | 1,202 | ​ |  | 4,349 | ​ |  | 66 | ​
Total impaired loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 4,297 | ​ |  | 5,515 | ​ |  | 947 | ​ |  | 4,953 | ​ |  | 47 | ​
Real estate: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial | ​ |  | 3,952 | ​ |  | 4,674 | ​ |  | 180 | ​ |  | 3,835 | ​ |  | 64 | ​
Residential | ​ |  | 1,546 | ​ |  | 1,745 | ​ |  | 75 | ​ |  | 1,847 | ​ |  | 34 | ​
Consumer | ​ |  | 111 | ​ |  | 121 | ​ | ​ | ​ | ​ |  | 167 | ​ | ​ | ​ | ​
Total | ​ | $ | 9,906 | ​ | $ | 12,055 | ​ | $ | 1,202 | ​ | $ | 10,802 | ​ | $ | 145 | ​
​ The amounts of interest income recognized using the cash-basis method on impaired loans for the years ended December 31, 2022, 2021 and 2020 were $0.1 million, $0.1 million and $0.1 million, respectively. Included in the commercial loan, commercial real estate and residential real estate categories are troubled debt restructurings (TDRs) that were classified as impaired. TDRs totaled $1.4 million and $1.6 million at December 31, 2022 and 2021, respectively. The decrease in TDR balances is due primarily to $0.2 million in payoffs and pay downs during the year. There were no loans modified in 2022 or 2021 that resulted in TDRs. There were four loans modified in 2020. The four loans modified in 2020 were adversely impacted by COVID-19 and the economic slowdown and did not qualify for the CARES Act exclusion due to current and prior delinquencies. Two of the loans were to one restaurant and two of the loans were to retail related small businesses. The following tables summarize the loans whose terms have been modified resulting in TDRs during the year ended December 31, 2020. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2020 | ​
​ |  | ​ |  | Pre-Modification |  | Post-Modification |  | ​ | ​ | ​
​ | ​ | Number | ​ | Outstanding Recorded | ​ | Outstanding | ​ | Recorded | ​
(Dollars in thousands except number of contracts) | ​ | of Contracts | ​ | Investment | ​ | Recorded Investment | ​ | Investment | ​
Commercial | ​ | 1 | ​ | $ | 12 | ​ | $ | 12 | ​ | $ | 5 | ​
Commercial real estate |  | 3 | ​ | ​ | 1,073 | ​ | ​ | 1,073 | ​ | ​ | 1,046 | ​
Total |  | 4 | ​ | $ | 1,085 | ​ | $ | 1,085 | ​ | $ | 1,051 | ​
​ There were no payment defaults within 12 months of its modification on loans considered TDRs for the years ended December 31, 2022, December 31, 2021 and December 31, 2020.

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