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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Schedule of Components of Loans in the Consolidated Balance Sheet

The following table presents the components of loans as of the periods shown:

(Dollars in thousands)						March 31, 2024						December 31, 2023
Commercial:
Business						$	742,369					$	797,100
Real estate						681,067						670,584
Acquisition, development and construction						144,261						134,004
Total commercial						1,567,697						1,601,688
Residential real estate						660,444						672,547
Home equity lines of credit						13,369						14,531
Consumer						24,681						27,408
Total loans						2,266,191						2,316,174
Deferred loan origination costs, net						1,119						1,420
Loans receivable						$	2,267,310					$	2,317,594

Schedule of Classes of the Loan Portfolio Summarized by Vintage Year and the Aggregate Pass and the Criticized Categories

The following table presents the amortized cost of loans summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system by vintage year as of the period shown:

						Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)						2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term						Total
March 31, 2024
Commercial business:
Risk rating:
Pass						$	11,058					$	148,499					$	230,313					$	71,110					$	30,347					$	119,528					$	85,322					$	—					$	696,177
Special Mention						—						—						29,776						185						817						4,094						—						—						34,872
Substandard						—						1,250						1,227						691						—						4,349						808						—						8,325
Doubtful						—						—						924						779						264						1,028						—						—						2,995
Total commercial business loans						$	11,058					$	149,749					$	262,240					$	72,765					$	31,428					$	128,999					$	86,130					$	—					$	742,369
Gross charge-offs						$	—					$	—					$	614					$	—					$	—					$	367					$	—					$	—					$	981
Commercial real estate:
Risk rating:
Pass						$	37,733					$	112,029					$	134,778					$	191,268					$	11,813					$	131,047					$	518					$	—					$	619,186
Special Mention						—						—						—						25,919						—						17,150						—						—						43,069
Substandard						—						—						—						—						—						18,812						—						—						18,812
Doubtful						—						—						—						—						—						—						—						—						—
Total commercial real estate loans						$	37,733					$	112,029					$	134,778					$	217,187					$	11,813					$	167,009					$	518					$	—					$	681,067
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Commercial acquisition, development and construction:
Risk rating:
Pass						$	5,146					$	6,592					$	56,763					$	30,552					$	23,656					$	3,692					$	2,500					$	—					$	128,901
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						—						—						14,652						—						708						—						—						15,360
Doubtful						—						—						—						—						—						—						—						—						—
Total commercial acquisition, development and construction loans						$	5,146					$	6,592					$	56,763					$	45,204					$	23,656					$	4,400					$	2,500					$	—					$	144,261
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Residential Real Estate:
Risk rating:
Pass						$	8,946					$	56,959					$	417,220					$	104,709					$	34,748					$	28,585					$	2,705					$	—					$	653,872
Special Mention						—						—						—						—						4,118						1,161						—						—						5,279
Substandard						—						—						—						—						81						787						120						—						988
Doubtful						—						—						—						211						—						94						—						—						305
Total residential real estate loans						$	8,946					$	56,959					$	417,220					$	104,920					$	38,947					$	30,627					$	2,825					$	—					$	660,444
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—

						Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)						2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term						Total
March 31, 2024
Home equity lines of credit:
Risk rating:
Pass						$	—					$	58					$	36					$	—					$	—					$	11					$	12,828					$	—					$	12,933
Special Mention						—						—						—						—						—						—						271						—						271
Substandard						—						—						—						—						—						—						165						—						165
Doubtful						—						—						—						—						—						—						—						—						—
Total home equity lines of credit loans						$	—					$	58					$	36					$	—					$	—					$	11					$	13,264					$	—					$	13,369
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Consumer:
Risk rating:
Pass						$	—					$	2,040					$	17,093					$	5,243					$	—					$	55					$	30					$	—					$	24,461
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						—						21						189						10						—						—						—						—						220
Doubtful						—						—						—						—						—						—						—						—						—
Total consumer loans						$	—					$	2,061					$	17,282					$	5,253					$	—					$	55					$	30					$	—					$	24,681
Gross charge-offs						$	—					$	189					$	833					$	147					$	—					$	—					$	—					$	—					$	1,169
Total:
Risk rating:
Pass						$	62,883					$	326,177					$	856,203					$	402,882					$	100,564					$	282,918					$	103,903					$	—					$	2,135,530
Special Mention						—						—						29,776						26,104						4,935						22,405						271						—						83,491
Substandard						—						1,271						1,416						15,353						81						24,656						1,093						—						43,870
Doubtful						—						—						924						990						264						1,122						—						—						3,300
Total loans						$	62,883					$	327,448					$	888,319					$	445,329					$	105,844					$	331,101					$	105,267					$	—					$	2,266,191
Gross charge-offs						$	—					$	189					$	1,447					$	147					$	—					$	367					$	—					$	—					$	2,150

						Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)						2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term						Total
December 31, 2023
Commercial business:
Risk rating:
Pass						$	176,309					$	251,265					$	92,307					$	64,964					$	50,765					$	90,355					$	20,315					$	—					$	746,280
Special Mention						990						32,342						72						830						339						3,767						—						—						38,340
Substandard						368						988						521						—						4,640						1,436						—						—						7,953
Doubtful						—						2,022						839						264						—						1,402						—						—						4,527
Total commercial business loans						$	177,667					$	286,617					$	93,739					$	66,058					$	55,744					$	96,960					$	20,315					$	—					$	797,100
Gross charge-offs						$	—					$	228					$	1,250					$	141					$	—					$	2,953					$	—					$	—					$	4,572
Commercial real estate:
Risk rating:
Pass						$	80,553					$	149,189					$	205,651					$	11,952					$	26,438					$	101,322					$	51,239					$	—					$	626,344
Special Mention						—						—						7,961						—						6,079						11,201						—						—						25,241
Substandard						—						—						—						—						—						18,999						—						—						18,999
Doubtful						—						—						—						—						—						—						—						—						—
Total commercial real estate loans						$	80,553					$	149,189					$	213,612					$	11,952					$	32,517					$	131,522					$	51,239					$	—					$	670,584
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Commercial acquisition, development and construction:
Risk rating:
Pass						$	6,546					$	54,170					$	29,535					$	22,041					$	—					$	1,483					$	4,823					$	—					$	118,598
Special Mention						—						—						14,652						—						—						—						—						—						14,652
Substandard						—						—						—						—						—						754						—						—						754
Doubtful						—						—						—						—						—						—						—						—						—
Total commercial acquisition, development and construction loans						$	6,546					$	54,170					$	44,187					$	22,041					$	—					$	2,237					$	4,823					$	—					$	134,004
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Residential Real Estate:
Risk rating:
Pass						$	33,867					$	413,466					$	96,413					$	38,169					$	7,306					$	21,313					$	50,815					$	—					$	661,349
Special Mention						—						—						—						4,224						414						708						—						—						5,346
Substandard						—						988						3,764						82						146						777						—						—						5,757
Doubtful						—						—						—						—						—						95						—						—						95
Total residential real estate loans						$	33,867					$	414,454					$	100,177					$	42,475					$	7,866					$	22,893					$	50,815					$	—					$	672,547
Gross charge-offs						$	—					$	—					$	—					$	—					$	19					$	381					$	—					$	—					$	400

						Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)						2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term						Total
December 31, 2023
Home equity lines of credit:
Risk rating:
Pass						$	638					$	3,798					$	1,779					$	1,192					$	501					$	3,084					$	3,154					$	—					$	14,146
Special Mention						—						61						—						36						—						41						86						—						224
Substandard						—						83						—						78						—						—						—						—						161
Doubtful						—						—						—						—						—						—						—						—						—
Total home equity lines of credit loans						$	638					$	3,942					$	1,779					$	1,306					$	501					$	3,125					$	3,240					$	—					$	14,531
Gross charge-offs						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Consumer:
Risk rating:
Pass						$	2,275					$	18,926					$	5,753					$	9					$	28					$	53					$	20					$	—					$	27,064
Special Mention						—						—						—						—						—						—						—						—						—
Substandard						20						266						58						—						—						—						—						—						344
Doubtful						—						—						—						—						—						—						—						—						—
Total consumer loans						$	2,295					$	19,192					$	5,811					$	9					$	28					$	53					$	20					$	—					$	27,408
Gross charge-offs						$	1,144					$	10,608					$	1,753					$	—					$	—					$	2					$	—					$	—					$	13,507
Total:
Risk rating:
Pass						$	300,188					$	890,814					$	431,438					$	138,327					$	85,038					$	217,610					$	130,366					$	—					$	2,193,781
Special Mention						990						32,403						22,685						5,090						6,832						15,717						86						—						83,803
Substandard						388						2,325						4,343						160						4,786						21,966						—						—						33,968
Doubtful						—						2,022						839						264						—						1,497						—						—						4,622
Total loans						$	301,566					$	927,564					$	459,305					$	143,841					$	96,656					$	256,790					$	130,452					$	—					$	2,316,174
Gross charge-offs						$	1,144					$	10,836					$	3,003					$	141					$	19					$	3,336					$	—					$	—					$	18,479

Schedule of Classes of the Loan Portfolio Summarized by Aging Categories

The following table presents the amortized cost basis in loans by aging category and accrual status as of the periods shown:

(Dollars in thousands)						Current						30-59 Days Past Due						60-89 Days Past Due						90+ Days Past Due						Total Past Due						Total Loans						Non-Accrual						90+ Days Still Accruing						Non Accrual with No Credit Loss						Interest Income Recognized
March 31, 2024
Commercial
Business						$	735,578					$	3,088					$	549					$	3,154					$	6,791					$	742,369					$	4,859					$	—					$	1,983					$	—
Real estate						678,997						2,070						—						—						2,070						681,067						—						—						—						—
Acquisition, development and construction						129,609						—						14,652						—						14,652						144,261						708						—						708						—
Total commercial						1,544,184						5,158						15,201						3,154						23,513						1,567,697						5,567						—						2,691						—
Residential real estate						658,397						125						324						1,598						2,047						660,444						1,678						—						404						—
Home equity lines of credit						13,264						105						—						—						105						13,369						81						—						—						—
Consumer						22,538						1,513						410						220						2,143						24,681						220						—						—						—
Total loans						$	2,238,383					$	6,901					$	15,935					$	4,972					$	27,808					$	2,266,191					$	7,546					$	—					$	3,095					$	—
December 31, 2023
Commercial
Business						$	788,430					$	4,728					$	448					$	3,494					$	8,670					$	797,100					$	6,926					$	—					$	1,825					$	—
Real estate						670,170						—						414						—						414						670,584						—						—						—						—
Acquisition, development and construction						134,004						—						—						—						—						134,004						754						—						754						—
Total commercial						1,592,604						4,728						862						3,494						9,084						1,601,688						7,680						—						2,579						—
Residential real estate						670,539						1,671						337						—						2,008						672,547						82						—						—						—
Home equity lines of credit						14,522						9						—						—						9						14,531						161						—						—						—
Consumer						24,494						1,792						778						344						2,914						27,408						344						—						—						—
Total loans						$	2,302,159					$	8,200					$	1,977					$	3,838					$	14,015					$	2,316,174					$	8,267					$	—					$	2,579					$	—

Schedule of Amortized Cost Basis of Collateral-Dependent Loans

The following table presents the amortized cost basis of collateral-dependent loans by class of loans as of the periods shown:

(Dollars in thousands)						Real Estate						Vehicles and Equipment						Assignment of Cash Flow						Accounts Receivable						Other						Totals						Allowance for Credit Losses
March 31, 2024
Commercial
Business						$	16,209					$	2,732					$	—					$	442					$	695					$	20,078					$	2,958
Real estate						—						—						—						—						—						—						—
Acquisition, development and construction						—						—						—						—						—						—						—
Total commercial						$	16,209					$	2,732					$	—					$	442					$	695					$	20,078					$	2,958
Residential						1,387						—						—						—						—						1,387						35
Home equity lines of credit						—						—						—						—						—						—						—
Consumer						—						220						—						—						—						220						146
Total						$	17,596					$	2,952					$	—					$	442					$	695					$	21,685					$	3,139
Collateral value						$	34,924					$	2,393					$	—					$	38					$	—					$	37,355
December 31, 2023
Commercial
Business						$	424					$	2,277					$	—					$	452					$	1,037					$	4,190					$	1,583
Real estate						—						—						—						—						—						—						—
Acquisition, development and construction						—						—						—						—						—						—						—
Total commercial						$	424					$	2,277					$	—					$	452					$	1,037					$	4,190					$	1,583
Residential						—						—						—						—						—						—						—
Home equity lines of credit						—						—						—						—						—						—						—
Consumer						—						344						—						—						—						344						60
Total						$	424					$	2,621					$	—					$	452					$	1,037					$	4,534					$	1,643
Collateral value						$	301					$	2,040					$	—					$	906					$	320					$	3,567

Schedule of Allowance Activity

The following table presents the balance and activity for the primary segments of the ACL as of the periods shown:

						Commercial																								Residential						Home Equity						Consumer						Total
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial
ACL at December 31, 2023						$	7,931					$	2,931					$	1,674					$	12,536					$	6,412					$	97					$	3,079					$	22,124
Provision (release of allowance) for credit losses						1,297						365						447						2,109						(145)						(8)						39						1,995
Charge-offs						(981)						—						—						(981)						—						—						(1,169)						(2,150)
Recoveries						42						8						—						50						35						1						749						835
ACL at March 31, 2024						$	8,289					$	3,304					$	2,121					$	13,714					$	6,302					$	90					$	2,698					$	22,804

						Commercial																								Residential						Home Equity						Consumer						Total
(Dollars in thousands)						Business						Real Estate						Acquisition, development and construction						Total Commercial
ALL, prior to adoption of ASC 326, at December 31, 2022						$	8,771					$	5,704					$	1,064					$	15,539					$	2,880					$	131					$	5,287					$	23,837
Impact of adopting ASC 326						(126)						(2,846)						288						(2,684)						3,889						(5)						6,482						7,682
Initial allowance on loans purchased with credit deterioration						710						—						—						710						507						—						—						1,217
Provision (release of allowance) for credit losses						681						313						288						1,282						364						(8)						2,817						4,455
Charge-offs						(141)						—						—						(141)						(22)						—						(4,684)						(4,847)
Recoveries						23						6						—						29						—						1						3,139						3,169
ACL balance at March 31, 2023						$	9,918					$	3,177					$	1,640					$	14,735					$	7,618					$	119					$	13,041					$	35,513

Schedule of Modified Loans

The following table summarize the amortized cost basis of loans that were modified as of the period shown:

(Dollars in thousands)						Principal Forgiveness						Payment Delay						Term Extension						Interest Rate Reduction						Total						Total Class of Financing Receivable
March 31, 2024
Commercial
Business						$	—					$	1,377					$	—					$	—					$	1,377					—		%
Real estate						—						—						—						—						—						—		%
Total commercial						—						1,377						—						—						1,377						—		%
Residential						—						—						—						—						—						—		%
Home equity lines of credit						—						—						—						—						—						—		%
Consumer						—						—						—						—						—						—		%
Total						$	—					$	1,377					$	—					$	—					$	1,377					—		%

X

- Definition

Schedule Of Collateral Dependent Loans At Amortized Cost

+ References

No definition available.

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X

- Definition

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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

+ Details

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Namespace Prefix:	us-gaap_
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X

- Definition

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
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