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Loans and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
Amortized Cost and Unpaid Principal Balance of Loans by Loan Segment | The following table presents amortized cost and unpaid principal balance of loans, categorized by the segments used in the Company's Current Expected Credit Losses (“CECL”) methodology to assess credit risk, for the periods indicated:
| September 30, 2023 | December 31, 2022
(In Thousands) | Amortized Cost | Unpaid Principal | Difference | Amortized Cost | Unpaid Principal | Difference
Commercial & industrial loans | $415,898 |  | $417,695 |  | ($1,797) |  | $358,128 |  | $359,900 |  | ($1,772) |
Commercial real estate: |  |  |  |  |  |
Owner occupied properties | 357,455 |  | 359,019 |  | (1,564) |  | 349,973 |  | 351,580 |  | (1,607) |
Non-owner occupied and multifamily properties | 506,256 |  | 509,939 |  | (3,683) |  | 482,270 |  | 486,021 |  | (3,751) |
Residential real estate: |  |  |  |  |  |
1-4 family residential properties secured by first liens | 180,849 |  | 180,719 |  | 130 |  | 73,381 |  | 73,674 |  | (293) |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 27,535 |  | 27,342 |  | 193 |  | 20,259 |  | 20,103 |  | 156 |
1-4 family residential construction loans | 32,185 |  | 32,374 |  | (189) |  | 44,000 |  | 44,314 |  | (314) |
Other construction, land development and raw land loans | 119,716 |  | 120,909 |  | (1,193) |  | 99,182 |  | 100,075 |  | (893) |
Obligations of states and political subdivisions in the US | 30,463 |  | 30,465 |  | (2) |  | 32,539 |  | 32,540 |  | (1) |
Agricultural production, including commercial fishing | 40,923 |  | 41,143 |  | (220) |  | 34,099 |  | 34,263 |  | (164) |
Consumer loans | 5,986 |  | 5,930 |  | 56 |  | 4,335 |  | 4,293 |  | 42 |
Other loans | 2,825 |  | 2,842 |  | (17) |  | 3,619 |  | 3,632 |  | (13) |
Total | 1,720,091 |  | 1,728,377 |  | (8,286) |  | 1,501,785 |  | 1,510,395 |  | (8,610) |
Allowance for credit losses | (16,491) |  |  |  | (13,838) |  |  |
| $1,703,600 |  | $1,728,377 |  | ($8,286) |  | $1,487,947 |  | $1,510,395 |  | ($8,610) |
Allowance for Credit Losses | The table below presents activity in the ACL related to loans held for investment for the periods indicated. The ACL for loans held for investment increased $2.7 million from December 31, 2022 primarily due to higher non-government guaranteed loan balances as well as a decrease in estimated prepayment rates in the Company's discounted cash flow model given the current economic environment. These changes were only partially offset by a decrease in the Company's forecasted future unemployment rates.
Three Months Ended September 30, | Beginning Balance |  | Credit Loss Expense (Benefit) | Charge-offs | Recoveries | Ending Balance
| (In Thousands)
2023 |  |  |  |  |  |
Commercial & industrial loans | $3,418 |  |  | ($55) |  | ($91) |  | $181 |  | $3,453 |
Commercial real estate: |  |  |  |  |  |
Owner occupied properties | 2,807 |  |  | (15) |  | — |  | — |  | 2,792 |
Non-owner occupied and multifamily properties | 3,260 |  |  | (36) |  | — |  | — |  | 3,224 |
Residential real estate: |  |  |  |  |  |
1-4 family residential properties secured by first liens | 3,206 |  |  | 334 |  | — |  | — |  | 3,540 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 423 |  |  | 78 |  | — |  | 5 |  | 506 |
1-4 family residential construction loans | 206 |  |  | (31) |  | — |  | — |  | 175 |
Other construction, land development and raw land loans | 1,996 |  |  | 480 |  | — |  | — |  | 2,476 |
Obligations of states and political subdivisions in the US | 88 |  |  | (11) |  | — |  | — |  | 77 |
Agricultural production, including commercial fishing | 162 |  |  | 2 |  | — |  | — |  | 164 |
Consumer loans | 74 |  |  | 4 |  | — |  | 1 |  | 79 |
Other loans | 5 |  |  | — |  | — |  | — |  | 5 |
Total | $15,645 |  |  | $750 |  | ($91) |  | $187 |  | $16,491 |
2022 |  |  |  |  |  |
Commercial & industrial loans | $2,961 |  |  | ($1,344) |  | ($45) |  | $1,325 |  | $2,897 |
Commercial real estate: |  |  |  |  |  |
Owner occupied properties | 2,573 |  |  | 132 |  | — |  | 55 |  | 2,760 |
Non-owner occupied and multifamily properties | 3,107 |  |  | 120 |  | — |  | — |  | 3,227 |
Residential real estate: |  |  |  |  |  |
1-4 family residential properties secured by first liens | 620 |  |  | 73 |  | — |  | 5 |  | 698 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 327 |  |  | 30 |  | — |  | 9 |  | 366 |
1-4 family residential construction loans | 231 |  |  | 50 |  | — |  | — |  | 281 |
Other construction, land development and raw land loans | 1,462 |  |  | 15 |  | — |  | — |  | 1,477 |
Obligations of states and political subdivisions in the US | 59 |  |  | 4 |  | — |  | — |  | 63 |
Agricultural production, including commercial fishing | 127 |  |  | 13 |  | — |  | — |  | 140 |
Consumer loans | 64 |  |  | 3 |  | (3) |  | 2 |  | 66 |
Other loans | 6 |  |  | 1 |  | — |  | — |  | 7 |
Total | $11,537 |  |  | ($903) |  | ($48) |  | $1,396 |  | $11,982 |
Nine Months Ended September 30, | Beginning Balance |  | Credit Loss Expense (Benefit) | Charge-offs | Recoveries | Ending Balance
| (In Thousands)
2023 |  |  |  |  |  |
Commercial & industrial loans | $2,914 |  |  | $412 |  | ($140) |  | $267 |  | $3,453 |
Commercial real estate: |  |  |  |  |  |
Owner occupied properties | 3,094 |  |  | (302) |  | — |  | — |  | 2,792 |
Non-owner occupied and multifamily properties | 3,615 |  |  | (391) |  | — |  | — |  | 3,224 |
Residential real estate: |  |  |  |  |  |
1-4 family residential properties secured by first liens | 1,413 |  |  | 2,127 |  | — |  | — |  | 3,540 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 389 |  |  | 100 |  | — |  | 17 |  | 506 |
1-4 family residential construction loans | 312 |  |  | (137) |  | — |  | — |  | 175 |
Other construction, land development and raw land loans | 1,803 |  |  | 673 |  | — |  | — |  | 2,476 |
Obligations of states and political subdivisions in the US | 79 |  |  | (2) |  | — |  | — |  | 77 |
Agricultural production, including commercial fishing | 145 |  |  | 19 |  | — |  | — |  | 164 |
Consumer loans | 68 |  |  | 21 |  | (14) |  | 4 |  | 79 |
Other loans | 6 |  |  | (1) |  | — |  | — |  | 5 |
Total | $13,838 |  |  | $2,519 |  | ($154) |  | $288 |  | $16,491 |
2022 |  |  |  |  |  |
Commercial & industrial loans | $3,027 |  |  | ($1,065) |  | ($506) |  | $1,441 |  | $2,897 |
Commercial real estate: |  |  |  |  |  |
Owner occupied properties | 3,176 |  |  | (471) |  | — |  | 55 |  | 2,760 |
Non-owner occupied and multifamily properties | 2,930 |  |  | 297 |  | — |  | — |  | 3,227 |
Residential real estate: |  |  |  |  |  |
1-4 family residential properties secured by first liens | 439 |  |  | 254 |  | — |  | 5 |  | 698 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 215 |  |  | 121 |  | — |  | 30 |  | 366 |
1-4 family residential construction loans | 120 |  |  | 161 |  | — |  | — |  | 281 |
Other construction, land development and raw land loans | 1,635 |  |  | (158) |  | — |  | — |  | 1,477 |
Obligations of states and political subdivisions in the US | 32 |  |  | 31 |  | — |  | — |  | 63 |
Agricultural production, including commercial fishing | 91 |  |  | 34 |  | — |  | 15 |  | 140 |
Consumer loans | 67 |  |  | (1) |  | (3) |  | 3 |  | 66 |
Other loans | 7 |  |  | — |  | — |  | — |  | 7 |
Total | $11,739 |  |  | ($797) |  | ($509) |  | $1,549 |  | $11,982 |
Schedule of Financing Receivables For Gross Charge-Offs By Grade And Year Of Loan Origination | The following table shows gross charge-offs by grade and by year of loan origination for the periods indicated:
Nine Months Ended September 30, |
(In Thousands) | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Total
2023 |  |  |  |  |  |  |
Commercial & industrial loans | $— |  | $— |  | $49 |  | $— |  | $— |  | $91 |  | $140 |
Consumer loans | — |  | 1 |  | — |  | — |  | — |  | 13 |  | 14 |
Total | $— |  | $1 |  | $49 |  | $— |  | $— |  | $104 |  | $154 |
The following tables present the Company's portfolio of risk-rated loans by grade and by year of origination. Management considers the guidance in ASC 310-20 when determining whether a modification, extension, or renewal of loan constitutes a current period origination. Generally, current period renewals of credit are re-underwritten at the point of renewal and considered current period originations for purposes of the table below.
September 30, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Total
| (In Thousands)
Commercial & industrial loans |  |  |  |  |  |  |
Pass | $96,467 |  | $123,831 |  | $58,372 |  | $24,947 |  | $14,227 |  | $48,281 |  | $366,125 |
Classified | 3,916 |  | 18,880 |  | 17,231 |  | 7,235 |  | 65 |  | 2,446 |  | 49,773 |
Total commercial & industrial loans | $100,383 |  | $142,711 |  | $75,603 |  | $32,182 |  | $14,292 |  | $50,727 |  | $415,898 |
Commercial real estate: |  |  |  |  |  |  |
Owner occupied properties |  |  |  |  |  |  |
Pass | $26,585 |  | $68,242 |  | $72,939 |  | $83,211 |  | $30,245 |  | $73,253 |  | $354,475 |
Classified | — |  | — |  | — |  | 1,152 |  | — |  | 1,828 |  | 2,980 |
Total commercial real estate owner occupied properties | $26,585 |  | $68,242 |  | $72,939 |  | $84,363 |  | $30,245 |  | $75,081 |  | $357,455 |
Non-owner occupied and multifamily properties |  |  |  |  |
Pass | $38,234 |  | $95,181 |  | $83,998 |  | $69,550 |  | $56,536 |  | $153,324 |  | $496,823 |
Classified | — |  | — |  | — |  | — |  | — |  | 9,433 |  | 9,433 |
Total commercial real estate non-owner occupied and multifamily properties | $38,234 |  | $95,181 |  | $83,998 |  | $69,550 |  | $56,536 |  | $162,757 |  | $506,256 |
Residential real estate: |  |  |  |  |  |  |
1-4 family residential properties secured by first liens |  |  |  |  |
Pass | $114,314 |  | $48,278 |  | $5,120 |  | $4,736 |  | $2,434 |  | $5,835 |  | $180,717 |
Classified | — |  | — |  | — |  | — |  | — |  | 132 |  | 132 |
Total residential real estate 1-4 family residential properties secured by first liens | $114,314 |  | $48,278 |  | $5,120 |  | $4,736 |  | $2,434 |  | $5,967 |  | $180,849 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens |  |
Pass | $10,648 |  | $5,283 |  | $2,446 |  | $1,452 |  | $2,324 |  | $5,053 |  | $27,206 |
Classified | — |  | — |  | — |  | — |  | — |  | 329 |  | 329 |
Total residential real estate 1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | $10,648 |  | $5,283 |  | $2,446 |  | $1,452 |  | $2,324 |  | $5,382 |  | $27,535 |
1-4 family residential construction loans |  |  |  |  |  |  |
Pass | $16,057 |  | $6,205 |  | $1,118 |  | $21 |  | $— |  | $8,675 |  | $32,076 |
Classified | — |  | — |  | — |  | — |  | — |  | 109 |  | 109 |
Total residential real estate 1-4 family residential construction loans | $16,057 |  | $6,205 |  | $1,118 |  | $21 |  | $— |  | $8,784 |  | $32,185 |
Other construction, land development and raw land loans |  |  |  |
Pass | $18,172 |  | $53,412 |  | $33,797 |  | $3,186 |  | $1,479 |  | $7,897 |  | $117,943 |
Classified | — |  | — |  | — |  | — |  | — |  | 1,773 |  | 1,773 |
Total other construction, land development and raw land loans | $18,172 |  | $53,412 |  | $33,797 |  | $3,186 |  | $1,479 |  | $9,670 |  | $119,716 |
Obligations of states and political subdivisions in the US |  |  |  |
Pass | $— |  | $30,341 |  | $— |  | $— |  | $— |  | $122 |  | $30,463 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total obligations of states and political subdivisions in the US | $— |  | $30,341 |  | $— |  | $— |  | $— |  | $122 |  | $30,463 |
Agricultural production, including commercial fishing |  |  |  |
Pass | $7,842 |  | $9,892 |  | $17,095 |  | $3,567 |  | $589 |  | $1,938 |  | $40,923 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total agricultural production, including commercial fishing | $7,842 |  | $9,892 |  | $17,095 |  | $3,567 |  | $589 |  | $1,938 |  | $40,923 |
Consumer loans |  |  |  |  |  |  |
Pass | $2,791 |  | $1,094 |  | $282 |  | $394 |  | $279 |  | $1,133 |  | $5,973 |
Classified | — |  | 13 |  | — |  | — |  | — |  | — |  | 13 |
Total consumer loans | $2,791 |  | $1,107 |  | $282 |  | $394 |  | $279 |  | $1,133 |  | $5,986 |
Other loans |  |  |  |  |  |  |
Pass | $590 |  | $190 |  | $313 |  | $1,379 |  | $331 |  | $22 |  | $2,825 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total other loans | $590 |  | $190 |  | $313 |  | $1,379 |  | $331 |  | $22 |  | $2,825 |
Total loans |  |  |  |  |  |  |
Pass | $331,700 |  | $441,949 |  | $275,480 |  | $192,443 |  | $108,444 |  | $305,533 |  | $1,655,549 |
Classified | 3,916 |  | 18,893 |  | 17,231 |  | 8,387 |  | 65 |  | 16,050 |  | 64,542 |
Total loans | $335,616 |  | $460,842 |  | $292,711 |  | $200,830 |  | $108,509 |  | $321,583 |  | $1,720,091 |
Total pass loans | $331,700 |  | $441,949 |  | $275,480 |  | $192,443 |  | $108,444 |  | $305,533 |  | $1,655,549 |
Government guarantees | (842) |  | (8,194) |  | (19,164) |  | (2,469) |  | (12,321) |  | (7,726) |  | (50,716) |
Total pass loans, net of government guarantees | $330,858 |  | $433,755 |  | $256,316 |  | $189,974 |  | $96,123 |  | $297,807 |  | $1,604,833 |
Total classified loans | $3,916 |  | $18,893 |  | $17,231 |  | $8,387 |  | $65 |  | $16,050 |  | $64,542 |
Government guarantees | (3,849) |  | (16,896) |  | (15,331) |  | (7,259) |  | — |  | (8,500) |  | (51,835) |
Total classified loans, net government guarantees | $67 |  | $1,997 |  | $1,900 |  | $1,128 |  | $65 |  | $7,550 |  | $12,707 |
December 31, 2022 | 2022 | 2021 | 2020 | 2019 | 2018 | Prior | Total
| (In Thousands)
Commercial & industrial loans |  |  |  |  |  |  |
Pass | $157,555 |  | $86,543 |  | $37,147 |  | $17,881 |  | $9,844 |  | $40,571 |  | $349,541 |
Classified | 137 |  | 4,879 |  | 397 |  | 91 |  | 2,737 |  | 346 |  | 8,587 |
Total commercial & industrial loans | $157,692 |  | $91,422 |  | $37,544 |  | $17,972 |  | $12,581 |  | $40,917 |  | $358,128 |
Commercial real estate: |  |  |  |  |  |  |
Owner occupied properties |  |  |  |  |  |  |
Pass | $66,955 |  | $70,777 |  | $90,496 |  | $32,564 |  | $13,233 |  | $69,701 |  | $343,726 |
Classified | — |  | — |  | 1,261 |  | — |  | 165 |  | 4,821 |  | 6,247 |
Total commercial real estate owner occupied properties | $66,955 |  | $70,777 |  | $91,757 |  | $32,564 |  | $13,398 |  | $74,522 |  | $349,973 |
Non-owner occupied and multifamily properties |  |  |  |  |
Pass | $94,412 |  | $82,352 |  | $71,407 |  | $58,033 |  | $16,905 |  | $149,223 |  | $472,332 |
Classified | — |  | — |  | — |  | 274 |  | 3 |  | 9,661 |  | 9,938 |
Total commercial real estate non-owner occupied and multifamily properties | $94,412 |  | $82,352 |  | $71,407 |  | $58,307 |  | $16,908 |  | $158,884 |  | $482,270 |
Residential real estate: |  |  |  |  |  |  |
1-4 family residential properties secured by first liens |  |  |  |  |
Pass | $52,117 |  | $5,088 |  | $6,001 |  | $2,535 |  | $462 |  | $6,968 |  | $73,171 |
Classified | — |  | — |  | — |  | — |  | 79 |  | 131 |  | 210 |
Total residential real estate 1-4 family residential properties secured by first liens | $52,117 |  | $5,088 |  | $6,001 |  | $2,535 |  | $541 |  | $7,099 |  | $73,381 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens |  |
Pass | $6,992 |  | $3,376 |  | $2,041 |  | $2,763 |  | $2,781 |  | $2,060 |  | $20,013 |
Classified | — |  | — |  | — |  |  | 239 |  | 7 |  | 246 |
Total residential real estate 1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | $6,992 |  | $3,376 |  | $2,041 |  | $2,763 |  | $3,020 |  | $2,067 |  | $20,259 |
1-4 family residential construction loans |  |  |  |  |  |  |
Pass | $26,860 |  | $3,897 |  | $61 |  | $— |  | $— |  | $13,073 |  | $43,891 |
Classified | — |  | — |  | — |  | — |  | — |  | 109 |  | 109 |
Total residential real estate 1-4 family residential construction loans | $26,860 |  | $3,897 |  | $61 |  | $— |  | $— |  | $13,182 |  | $44,000 |
Other construction, land development and raw land loans |  |  |  |
Pass | $38,673 |  | $42,448 |  | $5,740 |  | $1,713 |  | $3,675 |  | $5,112 |  | $97,361 |
Classified | — |  | — |  | — |  | — |  | 369 |  | 1,452 |  | 1,821 |
Total other construction, land development and raw land loans | $38,673 |  | $42,448 |  | $5,740 |  | $1,713 |  | $4,044 |  | $6,564 |  | $99,182 |
Obligations of states and political subdivisions in the US |  |  |  |
Pass | $32,319 |  | $— |  | $— |  | $— |  | $219 |  | $1 |  | $32,539 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total obligations of states and political subdivisions in the US | $32,319 |  | $— |  | $— |  | $— |  | $219 |  | $1 |  | $32,539 |
Agricultural production, including commercial fishing |  |  |  |
Pass | $9,748 |  | $17,692 |  | $3,740 |  | $604 |  | $879 |  | $1,436 |  | $34,099 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total agricultural production, including commercial fishing | $9,748 |  | $17,692 |  | $3,740 |  | $604 |  | $879 |  | $1,436 |  | $34,099 |
Consumer loans |  |  |  |  |  |  |
Pass | $1,513 |  | $363 |  | $481 |  | $345 |  | $235 |  | $1,391 |  | $4,328 |
Classified | — |  | — |  | — |  | — |  | — |  | 7 |  | 7 |
Total consumer loans | $1,513 |  | $363 |  | $481 |  | $345 |  | $235 |  | $1,398 |  | $4,335 |
Other loans |  |  |  |  |  |  |
Pass | $1,291 |  | $330 |  | $1,547 |  | $384 |  | $— |  | $67 |  | $3,619 |
Classified | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total other loans | $1,291 |  | $330 |  | $1,547 |  | $384 |  | $— |  | $67 |  | $3,619 |
Total loans |  |  |  |  |  |  |
Pass | $488,435 |  | $312,866 |  | $218,661 |  | $116,822 |  | $48,233 |  | $289,603 |  | $1,474,620 |
Classified | 137 |  | 4,879 |  | 1,658 |  | 365 |  | 3,592 |  | 16,534 |  | 27,165 |
Total loans | $488,572 |  | $317,745 |  | $220,319 |  | $117,187 |  | $51,825 |  | $306,137 |  | $1,501,785 |
Total pass loans | $488,435 |  | $312,866 |  | $218,661 |  | $116,822 |  | $48,233 |  | $289,603 |  | $1,474,620 |
Government guarantees | (25,172) |  | (36,531) |  | (9,751) |  | (12,885) |  | (2,964) |  | (5,314) |  | (92,617) |
Total pass loans, net of government guarantees | $463,263 |  | $276,335 |  | $208,910 |  | $103,937 |  | $45,269 |  | $284,289 |  | $1,382,003 |
Total classified loans | $137 |  | $4,879 |  | $1,658 |  | $365 |  | $3,592 |  | $16,534 |  | $27,165 |
Government guarantees | — |  | (4,396) |  | (1,135) |  | — |  | — |  | (9,293) |  | (14,824) |
Total classified loans, net government guarantees | $137 |  | $483 |  | $523 |  | $365 |  | $3,592 |  | $7,241 |  | $12,341 |
Aging of Contractually Past Due Loans | The following tables present an aging of contractually past due loans as of the periods presented:
(In Thousands) | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Total Past Due |  | Current |  | Total |  | Greater Than 90 Days Past Due Still Accruing
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & industrial loans | $3,748 |  |  | $— |  |  | $297 |  |  | $4,045 |  |  | $411,853 |  |  | $415,898 |  |  | $— |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied properties | — |  |  | — |  |  | 271 |  |  | 271 |  |  | 357,184 |  |  | 357,455 |  |  | — |
Non-owner occupied and multifamily properties | 380 |  |  | — |  |  | — |  |  | 380 |  |  | 505,876 |  |  | 506,256 |  |  | — |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
1-4 family residential properties secured by first liens | — |  |  | — |  |  | 28 |  |  | 28 |  |  | 180,821 |  |  | 180,849 |  |  | 28 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | — |  |  | — |  |  | 159 |  |  | 159 |  |  | 27,376 |  |  | 27,535 |  |  | — |
1-4 family residential construction loans | — |  |  | — |  |  | 109 |  |  | 109 |  |  | 32,076 |  |  | 32,185 |  |  | — |
Other construction, land development and raw land loans |  |  | — |  |  | 1,545 |  |  | 1,545 |  |  | 118,171 |  |  | 119,716 |  |  | — |
Obligations of states and political subdivisions in the US | — |  |  | — |  |  | — |  |  | — |  |  | 30,463 |  |  | 30,463 |  |  | — |
Agricultural production, including commercial fishing | — |  |  | — |  |  | — |  |  | — |  |  | 40,923 |  |  | 40,923 |  |  | — |
Consumer loans | — |  |  | 13 |  |  | — |  |  | 13 |  |  | 5,973 |  |  | 5,986 |  |  | — |
Other loans | — |  |  | — |  |  | — |  |  | — |  |  | 2,825 |  |  | 2,825 |  |  | — |
Total | $4,128 |  |  | $13 |  |  | $2,409 |  |  | $6,550 |  |  | $1,713,541 |  |  | $1,720,091 |  |  | $28 |
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & industrial loans | $37 |  |  | $521 |  |  | $56 |  |  | $614 |  |  | $357,514 |  |  | $358,128 |  |  | $— |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
Owner occupied properties | — |  |  | — |  |  | 798 |  |  | 798 |  |  | 349,175 |  |  | 349,973 |  |  | — |
Non-owner occupied and multifamily properties | — |  |  | — |  |  | 274 |  |  | 274 |  |  | 481,996 |  |  | 482,270 |  |  | — |
Residential real estate: |  |  |  |  |  |  |  |  |  |  |  |  |
1-4 family residential properties secured by first liens | 60 |  |  | 79 |  |  | 72 |  |  | 211 |  |  | 73,170 |  |  | 73,381 |  |  | — |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 112 |  |  | — |  |  | 127 |  |  | 239 |  |  | 20,020 |  |  | 20,259 |  |  | — |
1-4 family residential construction loans | — |  |  | — |  |  | 109 |  |  | 109 |  |  | 43,891 |  |  | 44,000 |  |  | — |
Other construction, land development and raw land loans | — |  |  | — |  |  | 1,545 |  |  | 1,545 |  |  | 97,637 |  |  | 99,182 |  |  | — |
Obligations of states and political subdivisions in the US | — |  |  | — |  |  | — |  |  | — |  |  | 32,539 |  |  | 32,539 |  |  | — |
Agricultural production, including commercial fishing | — |  |  | — |  |  | — |  |  | — |  |  | 34,099 |  |  | 34,099 |  |  | — |
Consumer loans | 6 |  |  | 80 |  |  | — |  |  | 86 |  |  | 4,249 |  |  | 4,335 |  |  | — |
Other loans | — |  |  | — |  |  | — |  |  | — |  |  | 3,619 |  |  | 3,619 |  |  | — |
Total | $215 |  |  | $680 |  |  | $2,981 |  |  | $3,876 |  |  | $1,497,909 |  |  | $1,501,785 |  |  | $— |
Loans on Nonaccrual Status | The following table presents loans on nonaccrual status and loans on nonaccrual status for the periods presented for which there was no related ACL. All loans with no ACL are individually evaluated for credit losses in the Company's CECL methodology.
| September 30, 2023 | December 31, 2022
(In Thousands) | Nonaccrual | Nonaccrual With No ACL | Nonaccrual | Nonaccrual With No ACL
Commercial & industrial loans | $4,254 |  | $4,056 |  | $3,294 |  | $3,287 |
Commercial real estate: |  |  |  |
Owner occupied properties | 306 |  | 271 |  | 1,457 |  | 1,457 |
Non-owner occupied and multifamily properties | — |  | — |  | 274 |  | 274 |
Residential real estate: |  |  |  |
1-4 family residential properties secured by first liens | 53 |  | — |  | 151 |  | 144 |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 225 |  | 119 |  | 246 |  | 198 |
1-4 family residential construction loans | 109 |  | 109 |  | 109 |  | 109 |
Other construction, land development and raw land loans | 1,545 |  | 1,545 |  | 1,545 |  | 1,545 |
Total nonaccrual loans | 6,492 |  | 6,100 |  | 7,076 |  | 7,014 |
Government guarantees on nonaccrual loans | (1,455) |  | (1,455) |  | (646) |  | (646) |
Net nonaccrual loans | $5,037 |  | $4,645 |  | $6,430 |  | $6,368 |
Financing Receivable, Modified | The percentage of the amortized cost basis of loans that were modified to borrowers experiencing financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented below:
| Three Months Ended September 30, 2023
| Term Modification |  |  |  | Term and payment modifications | Total Modifications | Percentage of Class of Financing Receivable
(In Thousands)
Commercial real estate: |  |  |  |  |  |  |
Owner occupied properties | $— |  |  |  |  | $271 |  | $271 |  | 0.08 | %
Residential real estate: |  |  |  |  |  |  |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 119 |  |  |  |  | — |  | 119 |  | 0.43 | %
1-4 family residential construction loans | 109 |  |  |  |  | — |  | 109 |  | 0.34 | %
Other construction, land development and raw land loans | 968 |  |  |  |  | 577 |  | 1,545 |  | 1.29 | %
Total | $1,196 |  |  |  |  | $848 |  | $2,044 |  | 0.12 | %
| Nine Months Ended September 30, 2023
| Term Modification | Payment Modification |  |  | Term and payment modifications | Total Modifications | Percentage of Class of Financing Receivable
(In Thousands)
Commercial & industrial loans | $1,511 |  | $1,985 |  |  |  | $— |  | $3,496 |  | 0.84 | %
Commercial real estate: |  |  |  |  |  |  |
Owner occupied properties | — |  | — |  |  |  | 271 |  | 271 |  | 0.08 | %
Residential real estate: |  |  |  |  |  |  |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 119 |  | — |  |  |  | — |  | 119 |  | 0.43 | %
1-4 family residential construction loans | 109 |  | — |  |  |  | — |  | 109 |  | 0.34 | %
Other construction, land development and raw land loans | 968 |  | — |  |  |  | 577 |  | 1,545 |  | 1.29 | %
Total | $2,707 |  | $1,985 |  |  |  | $848 |  | $5,540 |  | 0.32 | %
The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty as of the dates indicated:
| Three Months Ended September 30, 2023
| Principal Forgiveness | Weighted-Average Interest Rate Reduction | Weighted-Average Term Extension (months)
(In Thousands)
Commercial real estate: |  |  |
Owner occupied properties | — |  | — | % | 5
Residential real estate: |  |  |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | — |  | — | % | 5
1-4 family residential construction loans | — |  | — | % | 5
Other construction, land development and raw land loans | — |  | — | % | 5
| Nine Months Ended September 30, 2023
| Principal Forgiveness | Weighted-Average Interest Rate Reduction | Weighted-Average Term Extension (months)
(In Thousands)
Commercial & industrial loans | $— |  | — | % | 20
Commercial real estate: |  |  |
Owner occupied properties | — |  | — | % | 5
Residential real estate: |  |  |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | — |  | — | % | 5
1-4 family residential construction loans | — |  | — | % | 5
Other construction, land development and raw land loans | — |  | — | % | 5
The following table presents the payment performance of such loans as of the dates indicated:
| September 30, 2023
| 30-59 Days Past Due | 60-89 Days Past Due | Greater Than 89 Days Past Due | Total Past Due
(In Thousands)
Commercial real estate: |  |  |  |
Owner occupied properties | $— |  | $— |  | $271 |  | $271 |
Residential real estate: |  |  |  |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | — |  | — |  | 119 |  | 119 |
1-4 family residential construction loans | — |  | — |  | 109 |  | 109 |
Other construction, land development and raw land loans | — |  | — |  | 1,545 |  | 1,545 |
Total | $— |  | $— |  | $2,044 |  | $2,044 |
The following table presents the amortized cost basis of loans that had a payment default during the three-months ended September 30, 2023 and were modified in the twelve months prior to that default to borrowers experiencing financial difficulty:
| September 30, 2023
| Term modification |  |  | Term and payment modification |
(In Thousands)
Commercial real estate: |  |  |  |  |
Owner occupied properties | $— |  |  |  | $271 |  |
Residential real estate: |  |  |  |  |
1-4 family residential properties secured by junior liens and revolving secured by 1-4 family first liens | 119 |  |  |  | — |  |
1-4 family residential construction loans | 109 |  |  |  | — |  |
Other construction, land development and raw land loans | 968 |  |  |  | 577 |  |
Total | $1,196 |  |  |  | $848 |  |
At December 31, 2022, the Company had made the following types of loan modifications related to COVID-19 with a principal balance outstanding of:
Loan Modifications due to COVID-19 as of December 31, 2022
(Dollars in thousands) | Interest Only | Full Payment Deferral | Total
Portfolio loans | $999 |  | $— |  | $999 |
Number of modifications | 1 |  | — |  | 1 |

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