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Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Allowance for Loan Losses by Class of Financing Receivable and Allowance

A breakdown of the allowance for credit losses as of September 30, 2023, by class of financing receivable and allowance element, is presented in the following table:

As of September 30, 2023			Specific Reserves on Loans Evaluated Individually			General Reserves on Loans Based on Historical Loss Experience			Reserves for Qualitative Factors						Total Reserves
Commercial
Real estate owner occupied			$	—		$	3,731,000		$	780,000					$	4,511,000
Real estate non-owner occupied			—			3,855,000			574,000						4,429,000
Construction			—			1,445,000			157,000						1,602,000
C&I			225,000			3,909,000			663,000						4,797,000
Multifamily			—			1,184,000			93,000						1,277,000
Municipal			—			332,000			44,000						376,000
Residential
Term			41,000			4,020,000			825,000						4,886,000
Construction			—			602,000			(26,000)						576,000
Home Equity
Revolving and term			—			442,000			175,000						617,000
Consumer			—			219,000			32,000						251,000
			$	266,000		$	19,739,000		$	3,317,000					$	23,322,000

A breakdown of the allowance for loan losses as of December 31, 2022 under the incurred loss method, by class of financing receivable and allowance element, is presented in the following table:

As of December 31, 2022			Specific Reserves on Loans Evaluated Individually for Impairment			General Reserves on Loans Based on Historical Loss Experience			Reserves for Qualitative Factors			Unallocated Reserves			Total Reserves
Commercial
Real estate			$	—		$	974,000		$	5,142,000		$	—		$	6,116,000
Construction			—			131,000			690,000			—			821,000
Other			298,000			446,000			2,353,000			—			3,097,000
Municipal			—			—			162,000			—			162,000
Residential
Term			100,000			83,000			2,376,000			—			2,559,000
Construction			—			7,000			192,000			—			199,000
Home equity line of credit			—			101,000			928,000			—			1,029,000
Consumer			—			286,000			776,000			—			1,062,000
Unallocated			—			—			—			1,678,000			1,678,000
			$	398,000		$	2,028,000		$	12,619,000		$	1,678,000		$	16,723,000

A breakdown of the allowance for loan losses as of September 30, 2022 under the incurred loss method, by class of financing receivable and allowance element, is presented in the following table:

As of September 30, 2022			Specific Reserves on Loans Evaluated Individually for Impairment			General Reserves on Loans Based on Historical Loss Experience			Reserves for Qualitative Factors			Unallocated Reserves			Total Reserves
Commercial
Real estate			$	—		$	867,000		$	4,708,000		$	—		$	5,575,000
Construction			6,000			173,000			942,000			—			1,121,000
Other			315,000			420,000			2,279,000			—			3,014,000
Municipal			—			—			160,000			—			160,000
Residential
Term			99,000			102,000			2,346,000			—			2,547,000
Construction			—			7,000			161,000			—			168,000
Home equity line of credit			—			106,000			887,000			—			993,000
Consumer			—			216,000			656,000			—			872,000
Unallocated			—			—			—			1,937,000			1,937,000
			$	420,000		$	1,891,000		$	12,139,000		$	1,937,000		$	16,387,000

Schedule of ACL for Off-balance Sheet Credit Exposure

The following table presents the activity in the ACL for off-balance sheet credit exposures for the nine months ended September 30, 2023 :

Allowance for credit losses:
Beginning balance, prior to adoption of ASC 326			$	100,000
Impact of adopting ASC 326			1,297,000
Credit loss expense			89,000
Total ending allowance balance			$	1,486,000

Schedule of Credit Quality Risk Ratings for Loans

The following table summarizes the credit quality for the Company's portfolio by risk category of loans and by class by vintage as follows:

			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
As of September 30, 2023
Commercial
Real estate owner occupied
Pass (risk rating 1-5)			$	43,022		$	75,590		$	41,851		$	28,387		$	35,696		$	65,064		$	9,355		$	175		$	299,140
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			283			—			—			—			503			17			—			—			803
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Real Estate Owner Occupied			43,305			75,590			41,851			28,387			36,199			65,081			9,355			175			299,943
Current period gross write-offs			—			—			—			—			—			40			—			—			40
Real estate non-owner occupied
Pass (risk rating 1-5)			27,875			71,474			130,132			49,160			27,670			85,559			5,092			—			396,962
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			—			—			—			62			—			—			62
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Real Estate Non-Owner Occupied			27,875			71,474			130,132			49,160			27,670			85,621			5,092			—			397,024
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Construction
Pass (risk rating 1-5)			16,892			41,852			8,506			1,665			1,039			2,470			—			—			72,424
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			—			—			—			—			—			—			—
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Construction			16,892			41,852			8,506			1,665			1,039			2,470			—			—			72,424
Current period gross write-offs			—			—			—			—			—			—			—			—			—
C&I
Pass (risk rating 1-5)			43,648			66,873			53,712			37,052			6,526			38,003			90,748			11,937			348,499
Special Mention (risk rating 6)			—			129			268			—			—			8			400			—			805
Substandard (risk rating 7)			94			363			35			—			188			545			67			—			1,292
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total C&I			43,742			67,365			54,015			37,052			6,714			38,556			91,215			11,937			350,596
Current period gross write-offs			—			—			—			—			16			—			—			—			16
Multifamily
Pass (risk rating 1-5)			8,435			32,082			18,172			16,103			5,553			8,796			329			207			89,677
Special Mention (risk rating 6)			—			—			1,364			—			—			—			—			—			1,364
Substandard (risk rating 7)			—			—			—			—			—			—			—			—			—
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Multifamily			8,435			32,082			19,536			16,103			5,553			8,796			329			207			91,041
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Municipal
Pass (risk rating 1-5)			24,527			6,239			4,121			10,226			5,270			8,064			—			—			58,447
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			—			—			—			—			—			—			—
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Municipal			24,527			6,239			4,121			10,226			5,270			8,064			—			—			58,447
Current period gross write-offs			—			—			—			—			—			—			—			—			—

			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
As of September 30, 2023
Residential
Term
Performing			47,019			149,470			143,048			97,350			40,621			179,788			1,301			132			658,729
Non-performing			—			304			—			81			340			595			—			—			1,320
Total Term			47,019			149,774			143,048			97,431			40,961			180,383			1,301			132			660,049
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Construction
Performing			15,966			11,715			—			1,305			—			—			—			—			28,986
Non-performing			—			—			—			—			—			—			—			—			—
Total Construction			15,966			11,715			—			1,305			—			—			—			—			28,986
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Home Equity Revolving and Term
Performing			8,154			9,472			2,073			1,214			609			1,754			67,639			10,575			101,490
Non-performing			—			—			—			—			—			115			198			177			490
Total Home Equity Revolving and Term			8,154			9,472			2,073			1,214			609			1,869			67,837			10,752			101,980
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Consumer
Performing			3,072			2,338			1,296			1,951			538			4,404			5,771			—			19,370
Non-performing			—			—			—			—			—			—			—			—			—
Total Consumer			3,072			2,338			1,296			1,951			538			4,404			5,771			—			19,370
Current period gross write-offs			5			41			30			30			7			39			—			—			152
Total loans			$	238,987		$	467,901		$	404,578		$	244,494		$	124,553		$	395,244		$	180,900		$	23,203		$	2,079,860

Schedule of Allowance for Loan Losses Transactions

The following table presents allowance for credit losses activity by class for the nine months and quarter ended September 30, 2023:

Dollars in thousands			Commercial															Municipal			Residential						Home Equity			Consumer			Unallocated			Total
			Real Estate Owner Occupied			Real Estate Non-Owner Occupied			Construction			C&I			Multifamily						Term			Construction			Revolving and term
For the nine months ended September 30, 2023
Beginning balance, prior to adoption of ASC 326			$	6,116		$	—		$	821		$	3,097		$	—		$	162		$	2,559		$	199		$	1,029		$	1,062		$	1,678		$	16,723
Charge offs			40			—			—			16			—			—			—			—			—			152			—			208
Recoveries			2			75			—			3			—			—			10			—			10			78			—			178
Provision (credit)			119			39			(162)			68			93			82			439			(358)			34			65			—			419
Impact of adopting ASC 326			(1,686)			4,315			943			1,645			1,184			132			1,878			735			(456)			(802)			(1,678)			6,210
Ending balance			$	4,511		$	4,429		$	1,602		$	4,797		$	1,277		$	376		$	4,886		$	576		$	617		$	251		$	—		$	23,322
For the three months ended September 30, 2023
Beginning balance			$	4,719		$	4,492		$	1,469		$	4,721		$	1,312		$	399		$	4,831		$	609		$	635		$	278		$	—		$	23,465
Charge offs			1			—			—			16			—			—			—			—			—			69			—			86
Recoveries			2			—			—			—			—			—			4			—			3			20			—			104
Provision (credit)			(209)			(63)			133			92			(35)			(23)			51			(33)			(21)			22			—			(161)
Ending balance			$	4,511		$	4,429		$	1,602		$	4,797		$	1,277		$	376		$	4,886		$	576		$	617		$	251		$	—		$	23,322

The following table presents allowance for loan losses activity by class for the year ended December 31, 2022:

Dollars in thousands			Commercial									Municipal			Residential						Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the year ended December 31, 2022
Beginning balance			$	5,367		$	746		$	2,830		$	157		$	2,733		$	148		$	925		$	833		$	1,782		$	15,521
Charge offs			—			—			309			—			8			—			29			412			—			758
Recoveries			20			—			13			—			29			—			4			144			—			210
Provision (credit)			729			75			563			5			(195)			51			129			497			(104)			1,750
Ending balance			$	6,116		$	821		$	3,097		$	162		$	2,559		$	199		$	1,029		$	1,062		$	1,678		$	16,723

The following table presents allowance for loan losses activity by class for the nine months and quarter ended September 30, 2022:

Dollars in thousands			Commercial									Municipal			Residential						Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the nine months ended September 30, 2022
Beginning balance			$	5,367		$	746		$	2,830		$	157		$	2,733		$	148		$	925		$	833		$	1,782		$	15,521
Charge offs			—			—			272			—			—			—			29			318			—			619
Recoveries			16			—			11			—			27			—			3			128			—			185
Provision (credit)			192			375			445			3			(213)			20			94			229			155			1,300
Ending balance			$	5,575		$	1,121		$	3,014		$	160		$	2,547		$	168		$	993		$	872		$	1,937		$	16,387
For the three months ended September 30, 2022
Beginning balance			$	5,480		$	1,151		$	2,948		$	157		$	2,592		$	191		$	966		$	866		$	1,850		$	16,201
Charge offs			—			—			229			—			—			—			—			31			—			260
Recoveries			(1)			—			9			—			16			—			2			20			—			46
Provision (credit)			96			(30)			286			3			(61)			(23)			25			17			87			400
Ending balance			$	5,575		$	1,121		$	3,014		$	160		$	2,547		$	168		$	993		$	872		$	1,937		$	16,387

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- Definition

Tabular disclosure for the roll forward of change in allowance for loan losses from period to period and related loan balances.

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Schedule Of Off-Balance Sheet Allowance

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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

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

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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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-29

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