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Loans and Asset Quality (Tables)

6 Months Ended

Jun. 30, 2025

Receivables [Abstract]

Schedule of Loans Information

Loans HFI by category and loans HFS are summarized below:

(in thousands)			June 30, 2025						December 31, 2024
Real estate:
Commercial real estate			$	883,586					$	884,641
One-to-four family residential			623,477						614,551
Construction and development			194,195						155,229
Commercial and industrial			348,917						327,086
Tax-exempt			60,524						64,930
Consumer			27,881						28,576
Total loans HFI			$	2,138,580					$	2,075,013
Total loans HFS			$	4,711					$	2,547

Schedule of Allowance for Credit Losses

The following table summarizes the activity in the ACL by category for the six months ended June 30, 2025:

(in thousands)			Beginning Balance December 31, 2024												Provision for Credit Losses						Charge-offs						Recoveries						Ending Balance June 30, 2025
Real estate:
Commercial real estate			$	9,047											$	24					$	(19)					$	—					$	9,052
One-to-four family residential			6,452												356						(22)						12						6,798
Construction and development			1,653												212						(250)						—						1,615
Commercial and industrial			4,123												258						(46)						11						4,346
Tax-exempt			103												(5)						—						—						98
Consumer			353												55						(161)						66						313
Total allowance for credit losses			$	21,731											$	900					$	(498)					$	89					$	22,222

The following table summarizes the activity in the ACL by category for the six months ended June 30, 2024:

(in thousands)			Beginning Balance December 31, 2023												Provision for Credit Losses						Charge-offs						Recoveries						Ending Balance June 30, 2024
Real estate:
Commercial real estate			$	9,118											$	(52)					$	—					$	—					$	9,066
One-to-four family residential			7,484												131						—						5						7,620
Construction and development			1,309												69						—						—						1,378
Commercial and industrial			2,553												348						(211)						54						2,744
Tax-exempt			575												(45)						—						—						530
Consumer			297												149						(231)						74						289
Total allowance for credit losses			$	21,336											$	600					$	(442)					$	133					$	21,627

The following table summarizes the reserve for unfunded commitments for the periods indicated:

			As of and For the Six Months Ended
(in thousands)			June 30, 2025									June 30, 2024
Reserve for unfunded commitments at beginning of period			$	642								$	442
Provision for credit losses			—									—
Reserve for unfunded commitments at end of period			$	642								$	442

Schedule of Financing Receivable, Nonaccrual

The following table presents nonaccrual loans as of June 30, 2025:

(in thousands)			Nonaccrual with No ACL						Nonaccrual with ACL						Total Nonaccrual
Real estate:
Commercial real estate			$	—					$	—					$	—
One-to-four family residential			540						408						948
Construction and development			—						—						—
Commercial and industrial			6						69						75
Tax-exempt			—						—						—
Consumer			—						75						75
Total loans HFI			$	546					$	552					$	1,098

The following table presents nonaccrual loans as of December 31, 2024:

(in thousands)			Nonaccrual with No ACL						Nonaccrual with ACL						Total Nonaccrual
Real estate:
Commercial real estate			$	458					$	276					$	734
One-to-four family residential			397						289						686
Construction and development			—						920						920
Commercial and industrial			412						142						554
Tax-exempt			—						—						—
Consumer			—						74						74
Total loans HFI			$	1,267					$	1,701					$	2,968

Schedule of Financing Receivable Past Due

The following table presents the aging analysis of the past due loans and loans 90 days or more past due and still accruing interest by loan category as of June 30, 2025:

			Past Due
(in thousands)			30-59 Days						60-89 Days						90 Days or More												Current						Total Loans HFI						90 Days or More Past Due and Accruing
Real estate:
Commercial real estate			$	20					$	—					$	—											$	883,566					$	883,586					$	—
One-to-four family residential			2,274						927						564												619,712						623,477						—
Construction and development			—						—						—												194,195						194,195						—
Commercial and industrial			95						25						15												348,782						348,917						15
Tax-exempt			—						—						—												60,524						60,524						—
Consumer			108						5						15												27,753						27,881						6
Total loans HFI			$	2,497					$	957					$	594											$	2,134,532					$	2,138,580					$	21

The following table presents the aging analysis of the past due loans and loans 90 days or more past due and still accruing interest by loan category as of December 31, 2024:

			Past Due
(in thousands)			30-59 Days						60-89 Days						90 Days or More												Current						Total Loans HFI						90 Days or More Past Due and Accruing
Real estate:
Commercial real estate			$	—					$	—					$	704											$	883,937					$	884,641					$	—
One-to-four family residential			1,762						2,705						899												609,185						614,551						264
Construction and development			32						—						918												154,279						155,229						—
Commercial and industrial			4						2						453												326,627						327,086						—
Tax-exempt			—						—						—												64,930						64,930						—
Consumer			44						15						2												28,515						28,576						2
Total loans HFI			$	1,842					$	2,722					$	2,976											$	2,067,473					$	2,075,013					$	266

Schedule of Financing Receivable by Credit Risk

The following table summarizes loans by risk rating and year of origination as of June 30, 2025, and gross charge-offs for the six months ended June 30, 2025:

			Year of Origination
(in thousands)			2025						2024						2023						2022						2021						Prior Years						Revolving Lines						Total
Real estate:
Commercial real estate
Pass			$	62,740					$	144,935					$	95,382					$	231,625					$	198,300					$	117,170					$	26,539					$	876,691
Special Mention			—						2,491						214						2,026						93						680						—						5,504
Substandard			—						703						—						—						688						—						—						1,391
Total			$	62,740					$	148,129					$	95,596					$	233,651					$	199,081					$	117,850					$	26,539					$	883,586
One-to-four family residential
Pass			$	52,556					$	86,622					$	95,694					$	106,593					$	103,154					$	151,633					$	21,225					$	617,477
Special Mention			301						113						—						2,264						787						304						—						3,769
Substandard			36						182						180						297						—						790						746						2,231
Total			$	52,893					$	86,917					$	95,874					$	109,154					$	103,941					$	152,727					$	21,971					$	623,477
Construction and development
Pass			$	33,355					$	88,625					$	53,301					$	10,063					$	3,000					$	1,845					$	2,823					$	193,012
Special Mention			—						—						—						—						—						—						—						—
Substandard			965						—						—						—						—						218						—						1,183
Total			$	34,320					$	88,625					$	53,301					$	10,063					$	3,000					$	2,063					$	2,823					$	194,195
Commercial and industrial
Pass			$	40,671					$	67,871					$	33,882					$	26,608					$	30,691					$	5,191					$	141,982					$	346,896
Special Mention			—						570						—						1,130						—						—						147						1,847
Substandard			74						24						—						6						8						—						62						174
Total			$	40,745					$	68,465					$	33,882					$	27,744					$	30,699					$	5,191					$	142,191					$	348,917
Tax-exempt
Pass			$	—					$	2,498					$	2,262					$	14,305					$	6,036					$	35,423					$	—					$	60,524
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						—						—						—						—						—						—						—
Total			$	—					$	2,498					$	2,262					$	14,305					$	6,036					$	35,423					$	—					$	60,524
Consumer
Pass			$	8,918					$	8,422					$	4,935					$	2,206					$	599					$	159					$	2,556					$	27,795
Special Mention			—						—						—						—						—						—						—						—
Substandard			4						—						9						—						—						67						6						86
Total			$	8,922					$	8,422					$	4,944					$	2,206					$	599					$	226					$	2,562					$	27,881
Total loans HFI			$	199,620					$	403,056					$	285,859					$	397,123					$	343,356					$	313,480					$	196,086					$	2,138,580
Gross charge-offs			$	2					$	8					$	252					$	48					$	5					$	19					$	164					$	498

As of December 31, 2024, the Company had no loans classified as doubtful or loss. The following table summarizes loans by risk rating and year of origination as of December 31, 2024, and gross charge-offs for the year ended December 31, 2024:

			Year of Origination
(in thousands)			2024						2023						2022						2021						2020						Prior Years						Revolving Lines						Total
Real estate:
Commercial real estate
Pass			$	141,677					$	107,788					$	242,693					$	208,595					$	68,371					$	85,212					$	22,731					$	877,067
Special Mention			2,883						221						1,475						—						—						658						—						5,237
Substandard			725						—						194						684						—						734						—						2,337
Total			$	145,285					$	108,009					$	244,362					$	209,279					$	68,371					$	86,604					$	22,731					$	884,641
One-to-four family residential
Pass			$	92,621					$	104,575					$	117,750					$	111,730					$	78,869					$	86,432					$	19,294					$	611,271
Special Mention			125						—						—						798						—						255						—						1,178
Substandard			—						63						369						42						33						785						810						2,102
Total			$	92,746					$	104,638					$	118,119					$	112,570					$	78,902					$	87,472					$	20,104					$	614,551
Construction and development
Pass			$	79,431					$	51,997					$	15,031					$	3,629					$	672					$	1,514					$	1,799					$	154,073
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						918						—						—						—						238						—						1,156
Total			$	79,431					$	52,915					$	15,031					$	3,629					$	672					$	1,752					$	1,799					$	155,229
Commercial and industrial
Pass			$	85,573					$	43,242					$	32,024					$	38,991					$	7,619					$	1,356					$	115,704					$	324,509
Special Mention			646						—						1,191						—						—						—						78						1,915
Substandard			26						2						58						11						2						78						485						662
Total			$	86,245					$	43,244					$	33,273					$	39,002					$	7,621					$	1,434					$	116,267					$	327,086
Tax-exempt
Pass			$	2,510					$	1,893					$	14,976					$	6,626					$	10,811					$	28,114					$	—					$	64,930
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						—						—						—						—						—						—						—
Total			$	2,510					$	1,893					$	14,976					$	6,626					$	10,811					$	28,114					$	—					$	64,930
Consumer
Pass			$	15,638					$	7,316					$	3,009					$	869					$	335					$	183					$	1,135					$	28,485
Special Mention			—						—						—						—						—						—						—						—
Substandard			—						10						—						—						—						74						7						91
Total			$	15,638					$	7,326					$	3,009					$	869					$	335					$	257					$	1,142					$	28,576
Total loans HFI			$	421,855					$	318,025					$	428,770					$	371,975					$	166,712					$	205,633					$	162,043					$	2,075,013
Gross charge-offs			$	13					$	27					$	37					$	1					$	—					$	312					$	413					$	803

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Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-13

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-5

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479319/326-20-50-14

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-Topic 326
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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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-Topic 210
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
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Tabular disclosure of financing receivable on nonaccrual status.

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-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Publisher FASB
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