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Loans and Allowance for Credit Losses (Tables)
3 Months Ended
Mar. 31, 2025
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, 2025December 31, 2024
Commercial:
   Business$646,311 $668,458 
   Real estate658,070 632,898 
   Acquisition, development and construction87,476 115,500 
          Total commercial1,391,857 1,416,856 
Residential real estate642,482 650,708 
Home equity lines of credit11,738 12,933 
Consumer16,704 18,620 
Total loans2,062,781 2,099,117 
   Deferred loan origination costs, net515 1,014 
Loans receivable$2,063,296 $2,100,131 
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)20252024202320222021PriorRevolving Loans Converted to TermTotal
March 31, 2025
Commercial business:
Risk rating:
Pass$15,657 $75,650 $126,701 $171,210 $48,468 $139,923 $6,375 $583,984 
Special Mention— 28 — 21,046 9,320 15,014 992 46,400 
Substandard— 1,205 5,857 3,776 2,788 — 13,627 
Doubtful— — — 966 45 1,289 — 2,300 
Total commercial business loans$15,657 $75,679 $127,906 $199,079 $61,609 $159,014 $7,367 $646,311 
Gross charge-offs$— $— $— $775 $21 $— $— $796 
Commercial real estate:
Risk rating:
Pass$40,000 $57,943 $111,934 $118,640 $167,320 $109,224 $401 $605,462 
Special Mention— — — — 7,731 9,596 — 17,327 
Substandard— — — — 17,984 17,297 — 35,281 
Doubtful— — — — — — — — 
Total commercial real estate loans$40,000 $57,943 $111,934 $118,640 $193,035 $136,117 $401 $658,070 
Gross charge-offs$— $— $— $— $— $— $— $— 
Commercial acquisition, development and construction:
Risk rating:
Pass$13,410 $15,506 $313 $31,064 $6,505 $4,857 $— $71,655 
Special Mention— — — — — 2,267 — 2,267 
Substandard— — — — 13,156 398 — 13,554 
Doubtful— — — — — — — — 
Total commercial acquisition, development and construction loans$13,410 $15,506 $313 $31,064 $19,661 $7,522 $— $87,476 
Gross charge-offs$— $— $— $— $— $— $— $— 
Residential Real Estate:
Risk rating:
Pass$8,813 $86,531 $35,312 $363,979 $87,661 $52,951 $2,653 $637,900 
Special Mention— — — 798 — 1,947 — 2,745 
Substandard— — — 1,377 — 255 113 1,745 
Doubtful— — — — — 92 — 92 
Total residential real estate loans$8,813 $86,531 $35,312 $366,154 $87,661 $55,245 $2,766 $642,482 
Gross charge-offs$— $— $— $— $— $— $— $— 
(Dollars in thousands)20252024202320222021PriorRevolving Loans Converted to TermTotal
March 31, 2025
Home equity lines of credit:
Risk rating:
Pass$— $— $57 $34 $— $11,632 $— $11,723 
Special Mention— — — — — 15 — 15 
Substandard— — — — — — — — 
Doubtful— — — — — — — — 
Total home equity lines of credit loans$— $— $57 $34 $— $11,647 $— $11,738 
Gross charge-offs$— 
Consumer:
Risk rating:
Pass$— $— $1,446 $11,572 $3,541 $42 $— $16,601 
Special Mention— — — — — — — — 
Substandard— — 20 77 — — 103 
Doubtful— — — — — — — — 
Total consumer loans$— $— $1,466 $11,649 $3,547 $42 $— $16,704 
Gross charge-offs$— $— $48 $458 $85 $— $— $591 
Total:
Risk rating:
Pass$77,880 $235,630 $275,763 $696,499 $313,495 $318,629 $9,429 $1,927,325 
Special Mention— 28 — 21,844 17,051 28,839 992 68,754 
Substandard— 1,225 7,311 34,922 20,738 113 64,310 
Doubtful— — — 966 45 1,381 — 2,392 
Total loans$77,880 $235,659 $276,988 $726,620 $365,513 $369,587 $10,534 $2,062,781 
Gross charge-offs$— $— $48 $1,233 $106 $— $— $1,387 
Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)20242023202220212020PriorRevolving Loans Converted to TermTotal
December 31, 2024
Commercial business:
Risk rating:
Pass$68,129 $124,736 $211,526 $51,202 $58,015 $98,747 $6,439 $618,794 
Special Mention35 — 21,053 9,259 1,816 4,863 813 37,839 
Substandard— 1,227 2,549 1,777 508 2,290 207 8,558 
Doubtful— — 1,681 292 278 1,016 — 3,267 
Total commercial business loans$68,164 $125,963 $236,809 $62,530 $60,617 $106,916 $7,459 $668,458 
Gross charge-offs$$— $3,125 $885 $— $367 $— $4,379 
Commercial real estate:
Risk rating:
Pass$63,058 $97,119 $121,694 $161,886 $9,222 $122,809 $431 $576,219 
Special Mention— — — 7,743 — — — 7,743 
Substandard— — — 17,984 — 30,952 — 48,936 
Doubtful— — — — — — — — 
Total commercial real estate loans$63,058 $97,119 $121,694 $187,613 $9,222 $153,761 $431 $632,898 
Gross charge-offs$— $— $— $— $— $— $— $— 
Commercial acquisition, development and construction:
Risk rating:
Pass$11,352 $13,675 $36,425 $29,885 $6,673 $1,287 $— $99,297 
Special Mention— — — — — 2,267 — 2,267 
Substandard— — — 13,506 — 430 — 13,936 
Doubtful— — — — — — — — 
Total commercial acquisition, development and construction loans$11,352 $13,675 $36,425 $43,391 $6,673 $3,984 $— $115,500 
Gross charge-offs$— $— $— $— $— $— $— $— 
Residential Real Estate:
Risk rating:
Pass$81,559 $37,914 $375,065 $90,440 $32,902 $22,759 $2,666 $643,305 
Special Mention— — 798 — — 1,567 — 2,365 
Substandard— — 2,798 — 360 1,672 115 4,945 
Doubtful— — — — — 93 — 93 
Total residential real estate loans$81,559 $37,914 $378,661 $90,440 $33,262 $26,091 $2,781 $650,708 
Gross charge-offs$— $— $— $11 $— $— $— $11 
Term Loans Amortized Cost Basis by Origination Year
(Dollars in thousands)2024202320222021`2020PriorRevolving Loans Converted to TermTotal
December 31, 2024
Home equity lines of credit:
Risk rating:
Pass$— $57 $35 $— $1,056 $11,475 $— $12,623 
Special Mention— — — — — 142 — 142 
Substandard— — — — — 168 — 168 
Doubtful— — — — — — — — 
Total home equity lines of credit loans$— $57 $35 $— $1,056 $11,785 $— $12,933 
Gross charge-offs$— $— $— $— $— $— $— $— 
Consumer:
Risk rating:
Pass$— $1,597 $12,812 $3,949 $— $43 $— $18,401 
Special Mention— — — — — — — — 
Substandard— 21 147 51 — — — 219 
Doubtful— — — — — — — — 
Total consumer loans$— $1,618 $12,959 $4,000 $— $43 $— $18,620 
Gross charge-offs$— $384 $2,530 $452 $— $— $— $3,366 
Total:
Risk rating:
Pass$224,098 $275,098 $757,557 $337,362 $107,868 $257,120 $9,536 $1,968,639 
Special Mention35 — 21,851 17,002 1,816 8,839 813 50,356 
Substandard— 1,248 5,494 33,318 868 35,512 322 76,762 
Doubtful— — 1,681 292 278 1,109 — 3,360 
Total loans$224,133 $276,346 $786,583 $387,974 $110,830 $302,580 $10,671 $2,099,117 
Gross charge-offs$$384 $5,655 $1,348 $— $367 $— $7,756 
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)Current30-59 Days Past Due60-89 Days Past Due90+ Days Past DueTotal Past DueTotal LoansNon-Accrual90+ Days Still AccruingNon Accrual with No Credit LossInterest Income Recognized
March 31, 2025
Commercial
Business$637,231 $5,065 $146 $3,869 $9,080 $646,311 $4,914 $— $3,459 $— 
Real estate640,086 — — 17,984 17,984 658,070 — 17,984 — — 
Acquisition, development and construction87,078 — 398 — 398 87,476 13,555 — 13,156 — 
          Total commercial1,364,395 5,065 544 21,853 27,462 1,391,857 18,469 17,984 16,615 — 
Residential real estate638,233 2,549 1,318 382 4,249 642,482 1,700 — — — 
Home equity lines of credit11,738 — — — — 11,738 — — — — 
Consumer15,122 1,207 272 103 1,582 16,704 103 — — — 
          Total loans$2,029,488 $8,821 $2,134 $22,338 $33,293 $2,062,781 $20,272 $17,984 $16,615 $— 
December 31, 2024
Commercial
Business$662,163 $736 $2,252 $3,307 $6,295 $668,458 $6,174 $— $2,682 $— 
Real estate614,914 — — 17,984 17,984 632,898 — 17,984 — — 
Acquisition, development and construction101,564 430 — 13,506 13,936 115,500 13,935 — 13,936 — 
          Total commercial1,378,641 1,166 2,252 34,797 38,215 1,416,856 20,109 17,984 16,618 — 
Residential real estate645,430 3,364 45 1,869 5,278 650,708 4,110 — 1,871 — 
Home equity lines of credit12,799 40 46 48 134 12,933 168 — — — 
Consumer16,720 1,390 290 220 1,900 18,620 220 — — — 
          Total loans$2,053,590 $5,960 $2,633 $36,934 $45,527 $2,099,117 $24,607 $17,984 $18,489 $— 
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 EstateVehicles and EquipmentAssignment of Cash FlowAccounts ReceivableOtherTotalsAllowance for Credit Losses
March 31, 2025
Commercial
Business$1,742 $1,267 $— $— $4,384 $7,393 $1,771 
Real estate17,984 — — — — 17,984 — 
Acquisition, development and construction13,156 — — — — 13,156 — 
Total commercial$32,882 $1,267 $— $— $4,384 $38,533 $1,771 
Residential995 — — — — 995 36 
Home equity lines of credit— — — — — — — 
Consumer— 103 — — — 103 39 
Total$33,877 $1,370 $— $— $4,384 $39,631 $1,846 
Collateral value$96,015 $2,278 $— $— $4,250 $102,543 
December 31, 2024
Commercial
Business$2,500 $1,516 $— $— $240 $4,256 $827 
Real estate17,984 — — — — 17,984 — 
Acquisition, development and construction13,506 — — — — 13,506 — 
Total commercial$33,990 $1,516 $— $— $240 $35,746 $827 
Residential2,866 — — — — 2,866 36 
Home equity lines of credit— — — — — — — 
Consumer— 220 — — — 220 73 
Total$36,856 $1,736 $— $— $240 $38,832 $936 
Collateral value$66,247 $2,578 $— $— $— $68,825 
Schedule of Allowance Activity
The following table presents the balance and activity for the primary segments of the ACL as of the periods shown:
CommercialResidentialHome EquityConsumerTotal
(Dollars in thousands)BusinessReal EstateAcquisition, development and constructionTotal Commercial
ACL balance at December 31, 2024$6,495 $2,571 $1,772 $10,838 $7,322 $95 $1,408 $19,663 
Provision (release of allowance) for credit losses1
1,285 (135)(389)761 (281)(7)(114)359 
Charge-offs(796)— — (796)— — (591)(1,387)
Recoveries49 — 52 — 477 530 
ACL balance at March 31, 2025$7,033 $2,439 $1,383 $10,855 $7,041 $89 $1,180 $19,165 
1 Excludes the provision (release of allowance) for unfunded commitments and the provision for credit losses related to available-for-sale debt securities, as applicable.

CommercialResidentialHome EquityConsumerTotal
(Dollars in thousands)BusinessReal EstateAcquisition, development and constructionTotal Commercial
ACL balance 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 losses1
1,297 365 447 2,109 (145)(8)39 1,995 
Charge-offs(981)— — (981)— — (1,169)(2,150)
Recoveries42 — 50 35 749 835 
ACL balance at March 31, 2024$8,289 $3,304 $2,121 $13,714 $6,302 $90 $2,698 $22,804 
1 Excludes the provision (release of allowance) for unfunded commitments and the provision for credit losses related to available-for-sale debt securities, as applicable.
Schedule of Modified Loans
The following table summarize the period-end amortized cost basis of loans that were modified during the period shown:

(Dollars in thousands)Principal ForgivenessPayment DelayTerm ExtensionInterest Rate ReductionTotalTotal Class of Financing Receivable
Three Months Ended March 31, 2025
Commercial
Business$— $6,447 $— $— $6,447 %
Real estate— — — — — — %
Acquisition, development and construction— — — — — — %
Total commercial— 6,447 — — 6,447 — %
Residential— — — — — — %
Home equity lines of credit— — — — — — %
Consumer— — — — — — %
Total$— $6,447 $— $— $6,447 — %
Three Months Ended March 31, 2024
Commercial
Business$— $1,377 $— $— $1,377 — %
Real estate— — — — — — %
Acquisition, development and construction— — — — — — %
Total commercial— 1,377 — — 1,377 — %
Residential— — — — — — %
Home equity lines of credit— — — — — — %
Consumer— — — — — — %
Total$— $1,377 $— $— $1,377 — %
The following table presents the performance of such loans that have been modified as of the periods shown:
(Dollars in thousands)30-59 Days
Past Due
60-89 Days
Past Due
Greater Than
89 Days
Past Due
Total Past Due
Three Months Ended March 31, 2025
Commercial
Business$243 $— $967 $1,210 
Real estate— — — — 
Acquisition, development and construction— — — — 
Total commercial243 — 967 1,210 
Residential— — — — 
Home equity lines of credit— — — — 
Consumer— — — — 
Total$243 $— $967 $1,210 
Schedule of Modified Loans with Subsequent Default
The following table presents the amortized cost basis of loans that had a payment default and were modified prior to that default to borrowers experiencing financial difficulty as of the period shown:
(Dollars in thousands)Principal ForgivenessPayment DelayTerm ExtensionInterest Rate ReductionTotal
Three Months Ended March 31, 2025
Commercial
Business$— $203 $— $— $203 
Real estate— — — — — 
Acquisition, development and construction— — — — — 
Total commercial— 203 — — 203 
Residential— — — — — 
Home equity lines of credit— — — — — 
Consumer— — — — — 
Total$— $203 $— $— $203