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Loans (Tables) | 12 Months Ended
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Dec. 31, 2024
Loans and Leases Receivable Disclosure [Abstract] |
Schedule of Composition of Loan Portfolio | The following table shows the composition of the Company's loan portfolio as of December 31, 2024 and 2023:
| December 31, 2024 | December 31, 2023
Commercial |  |  |  |
Real Estate Owner Occupied | $ | 358,588,000 |  | 15.3 | % | $ | 314,819,000 |  | 14.8 | %
Real Estate Non-Owner Occupied | 403,899,000 |  | 17.3 | % | 390,167,000 |  | 18.3 | %
Construction | 99,717,000 |  | 4.3 | % | 88,673,000 |  | 4.2 | %
C&I | 365,817,000 |  | 15.6 | % | 315,026,000 |  | 14.8 | %
Multifamily | 108,732,000 |  | 4.6 | % | 93,476,000 |  | 4.4 | %
Agriculture | 52,219,000 |  | 2.2 | % | 45,230,000 |  | 2.1 | %
Municipal | 61,827,000 |  | 2.6 | % | 51,423,000 |  | 2.4 | %
Residential |  |  |  |
Term | 710,807,000 |  | 30.4 | % | 674,855,000 |  | 31.7 | %
Construction | 35,481,000 |  | 1.5 | % | 32,358,000 |  | 1.5 | %
Home Equity |  |  |  |
Revolving and Term | 123,063,000 |  | 5.3 | % | 104,026,000 |  | 4.9 | %
Consumer | 20,790,000 |  | 0.9 | % | 19,401,000 |  | 0.9 | %
Total loans | $ | 2,340,940,000 |  | 100.0 | % | $ | 2,129,454,000 |  | 100.0 | %
Schedule of Loans to Directors, Officers and Employees which exceed $60,000 | A summary of loans to directors and executive officers is as follows:
For the years ended December 31, | 2024 |  | 2023
Balance at beginning of year | $ | 33,524,000 |  |  | $ | 29,490,000 |
New loans | 3,462,000 |  |  | 9,921,000 |
Repayments | (4,804,000) |  |  | (5,598,000) |
Retired director | — |  |  | (289,000) |
Balance at end of year | $ | 32,182,000 |  |  | $ | 33,524,000 |
Schedule of Past Due Loans Aging | Information on the past-due status of loans by class of financing receivable as of December 31, 2024, is presented in the following table:
| 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | All Past Due | Current | Total | 90+ Days & Accruing
Commercial |  |  |  |  |  |  |
Real Estate Owner Occupied | $ | — |  | $ | 257,000 |  | $ | 292,000 |  | $ | 549,000 |  | $ | 358,039,000 |  | $ | 358,588,000 |  | $ | — |
Real Estate Non-Owner Occupied | — |  | — |  | — |  | — |  | 403,899,000 |  | 403,899,000 |  | — |
Construction | — |  | — |  | — |  | — |  | 99,717,000 |  | 99,717,000 |  | — |
C&I | 346,000 |  | 1,112,000 |  | 540,000 |  | 1,998,000 |  | 363,819,000 |  | 365,817,000 |  | 10,000 |
Multifamily | — |  | — |  | — |  | — |  | 108,732,000 |  | 108,732,000 |  | — |
Agriculture | 115,000 |  | — |  | — |  | 115,000 |  | 52,104,000 |  | 52,219,000 |  | — |
Municipal | — |  | — |  | — |  | — |  | 61,827,000 |  | 61,827,000 |  | — |
Residential |  |  |  |  |  |  |
Term | 137,000 |  | 2,614,000 |  | 935,000 |  | 3,686,000 |  | 707,121,000 |  | 710,807,000 |  | 778,000 |
Construction | 390,000 |  | — |  | — |  | 390,000 |  | 35,091,000 |  | 35,481,000 |  | — |
Home Equity |  |  |  |  |  |  |
Revolving and Term | 1,074,000 |  | 368,000 |  | 94,000 |  | 1,536,000 |  | 121,527,000 |  | 123,063,000 |  | — |
Consumer | 592,000 |  | 285,000 |  | 232,000 |  | 1,109,000 |  | 19,681,000 |  | 20,790,000 |  | 232,000 |
Total | $ | 2,654,000 |  | $ | 4,636,000 |  | $ | 2,093,000 |  | $ | 9,383,000 |  | $ | 2,331,557,000 |  | $ | 2,340,940,000 |  | $ | 1,020,000 |
Information on the past-due status of loans by class of financing receivable as of December 31, 2023, is presented in the following table:
| 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due | All Past Due | Current | Total | 90+ Days & Accruing
Commercial |  |  |  |  |  |  |
Real Estate Owner Occupied | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 314,819,000 |  | $ | 314,819,000 |  | $ | — |
Real Estate Non-Owner Occupied | — |  | — |  | — |  | — |  | 393,636,000 |  | 393,636,000 |  | — |
Construction | — |  | 9,000 |  | 8,000 |  | 17,000 |  | 88,656,000 |  | 88,673,000 |  | — |
C&I | 714,000 |  | 35,000 |  | 120,000 |  | 869,000 |  | 355,918,000 |  | 356,787,000 |  | 10,000 |
Multifamily | — |  | — |  | — |  | — |  | 93,476,000 |  | 93,476,000 |  | — |
Municipal | 31,000 |  | — |  | — |  | 31,000 |  | 51,392,000 |  | 51,423,000 |  | — |
Residential |  |  |  |  |  |  |
Term | 254,000 |  | 818,000 |  | 728,000 |  | 1,800,000 |  | 673,055,000 |  | 674,855,000 |  | 360,000 |
Construction | — |  | — |  | — |  | — |  | 32,358,000 |  | 32,358,000 |  | — |
Home Equity |  |  |  |  |  |  |
Revolving and Term | 495,000 |  | 95,000 |  | 26,000 |  | 616,000 |  | 103,410,000 |  | 104,026,000 |  | — |
Consumer | 475,000 |  | 22,000 |  | 58,000 |  | 555,000 |  | 18,846,000 |  | 19,401,000 |  | 59,000 |
Total | $ | 1,969,000 |  | $ | 979,000 |  | $ | 940,000 |  | $ | 3,888,000 |  | $ | 2,125,566,000 |  | $ | 2,129,454,000 |  | $ | 429,000 |
Schedule of Nonaccrual Loans | The following table presents the amortized costs basis of loans on nonaccrual status as of as of December 31, 2024 and 2023 is presented in the following table:
As of December 31, | 2024 | 2023
| Nonaccrual with Allowance for Credit Loss | Nonaccrual with no Allowance for Credit Loss | Total Nonaccrual | Nonaccrual with Allowance for Credit Loss | Nonaccrual with no Allowance for Credit Loss | Total Nonaccrual
Commercial |  |  |  |  |  |
Real Estate Owner Occupied | $ | — |  | $ | 553,000 |  | $ | 553,000 |  | $ | — |  | $ | — |  | $ | — |
Real Estate Non-Owner Occupied | — |  | 61,000 |  | 61,000 |  | — |  | — |  | — |
Construction | — |  | 18,000 |  | 18,000 |  | — |  | 29,000 |  | 29,000 |
C&I | 1,359,000 |  | 336,000 |  | 1,695,000 |  | 354,000 |  | 184,000 |  | 538,000 |
Multifamily | — |  | — |  | — |  | — |  | — |  | — |
Agriculture | — |  | 31,000 |  | 31,000 |  | — |  | — |  | — |
Municipal | — |  | — |  | — |  | — |  | — |  | — |
Residential |  |  |  |  |  |
Term | — |  | 1,599,000 |  | 1,599,000 |  | 304,000 |  | 1,011,000 |  | 1,315,000 |
Construction | — |  | — |  | — |  | — |  | — |  | — |
Home Equity |  |  |  |  |  |
Revolving and Term | — |  | 291,000 |  | 291,000 |  | — |  | 296,000 |  | 296,000 |
Consumer | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 1,359,000 |  | $ | 2,889,000 |  | $ | 4,248,000 |  | $ | 658,000 |  | $ | 1,520,000 |  | $ | 2,178,000 |
Schedule of Amortized Cost Basis of Collateral Dependent Loans | The following table presents the amortized cost basis of collateral-dependent loans as of December 31, 2024 and 2023, by collateral type:
| December 31, 2024 | December 31, 2023
| Collateral Type |  | Collateral Type |
| Commercial Real Estate | Residential Real Estate | Other | Total | Commercial Real Estate | Residential Real Estate | Total
Commercial |  |  |  |  |  |  |
Real estate owner occupied | $ | 263,000 |  | $ | — |  | $ | — |  | $ | 263,000 |  | $ | — |  | $ | — |  | $ | — |
Real estate non-owner occupied | 67,000 | — | — | 67,000 | — | — | —
Construction | — | — | — | — | — | — | —
C&I | — | — | 1,438,000 | 1,438,000 | — | — | —
Multifamily | — | — | — | — | — | — | —
Agriculture | — | — | — | — | — | — | —
Municipal | — | — | — | — | — | — | —
Residential |  |  |  |  |  |  |
Term | — | 558,000 | — | 558,000 | — | 685,000 | 685,000
Construction | — | — | — | — | — | — | —
Home Equity |  |  |  |  |  |  |
Revolving and term | — | — | — | — | — | — | —
Consumer | — | — | — | — | — | — | —
Total | $ | 330,000 |  | $ | 558,000 |  | $ | 1,438,000 |  | $ | 2,326,000 |  | $ | — |  | $ | 685,000 |  | $ | 685,000 |
Schedule of Troubled Debt Restructurings on Financing Receivables | The following tables represent loan modifications made to borrowers experiencing financial difficulty by modification type and class of financing receivable, during the year ended December 31, 2024:
Amortized Cost Basis
| Payment Deferral | Term Extension | Interest Rate Reduction | Principal Forgiveness | Combination Payment Deferral and Term Extension | % of Total Class of Financing Receivable
Commercial |  |  |  |  |  |
Real estate owner occupied | $ | 633,000 |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | 0.18 | %
Construction | 69,000 |  | — |  | — |  | — |  | — |  | 0.08 | %
C&I | 169,000 |  | 13,000 |  | — |  | — |  | 54,000 |  | 0.06 | %
Multifamily | 1,932,000 |  | — |  | — |  | — |  | — |  | 1.75 | %
Residential |  |  |  |  |  |
Term | 1,019,000 |  | 127,000 |  | — |  | — |  | — |  | 0.16 | %
Home Equity |  |  |  |  |  |
Revolving and term | — |  | — |  | — |  | — |  | 66,000 |  | 0.06 | %
Total | $ | 3,822,000 |  | $ | 140,000 |  | $ | — |  | $ | — |  | $ | 120,000 |  |
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty for the year ended December 31, 2024:
| Payment Deferral
| Financial Effect
Commercial |
Real estate owner occupied | Temporary payment accommodation, payments deferred to end of loan
Construction | Temporary payment accommodation, payments deferred to end of loan
C&I | Temporary payment accommodation, payments deferred to end of loan
Multifamily | Temporary payment accommodation, payments deferred to end of loan
Residential |
Term | Temporary payment accommodation, payments deferred to end of loan
| Term Extension
| Financial Effect
Commercial |
C&I | Extended Term 12 months
Residential |
Term | Extended Term 24 months
| Payment Deferral & Term Extension
| Financial Effect
Commercial |
C&I | Temporary payment accommodation, payments deferred to end of loan - Extended Term 90 days
Home Equity |
Revolving and term | Temporary payment accommodation, payments deferred to end of loan - Extended Term 60 days
The following tables represent loan modifications made to borrowers experiencing financial difficulty by modification type and class of financing receivable, during the year ended December 31, 2023:
Amortized Cost Basis
| Payment Deferral | Term Extension | Interest Rate Reduction | Principal Forgiveness | Combination Payment Deferral and Term Extension | % of Total Class of Financing Receivable
Commercial |  |  |  |  |  |
Real estate owner occupied | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 786,000 |  | 0.25 | %
C&I | 114,000 |  | — |  | — |  | — |  | 174,000 |  | 0.09 | %
Consumer | 23,000 |  | 13,000 |  | — |  | — |  | — |  | 0.19 | %
Total | $ | 137,000 |  | $ | 13,000 |  | $ | — |  | $ | — |  | $ | 960,000 |  |
The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty for the year ended December 31, 2023:
| Payment Deferral
| Financial Effect
Commercial |
C&I | Temporary payment accommodation, payments deferred to end of loan
Consumer | Temporary payment accommodation, payments deferred to end of loan
| Term Extension
| Financial Effect
Consumer | Extended Term 90 days
| Payment Deferral & Term Extension
| Financial Effect
Commercial |
Commercial real estate owner occupied | Temporary payment accommodation, payments deferred to end of loan - Extended Term 90 days
C&I | Temporary payment accommodation, payments deferred to end of loan - Extended Term 90 days
The Company monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified during the year ended December 31, 2024:
| Payment Status (Amortized Cost Basis)
| Current | 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due
Commercial |  |  |  |
Real estate owner occupied | $ | 633,000 |  | $ | — |  | $ | — |  | $ | — |
Real estate non-owner occupied | — |  | — |  | — |  | — |
Construction | 69,000 |  | — |  | — |  | — |
C&I | 236,000 |  | — |  | — |  | — |
Multifamily | 1,932,000 |  | — |  | — |  | — |
Agriculture | — |  | — |  | — |  | — |
Residential |  |  |  |
Term | 570,000 |  | 127,000 |  | 449,000 |  | — |
Home Equity |  |  |  |
Revolving and term | 66,000 |  | — |  | — |  | — |
Consumer | — |  | — |  | — |  | — |
Total | $ | 3,506,000 |  | $ | 127,000 |  | $ | 449,000 |  | $ | — |
The following table depicts loans that were modified in 2023 which defaulted upon the modified terms during 2024:
| Payment Status (Amortized Cost Basis)
| 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due
Commercial |  |  |
Real estate owner occupied | $ | 502,000 |  | $ | — |  | $ | 283,000 |
C&I | — |  | — |  | 35,000 |
Consumer | — |  | — |  | 13,000 |
Total | $ | 502,000 |  | $ | — |  | $ | 331,000 |
The following table depicts the performance of loans that have been modified during 2023 as of December 31, 2023:
| Payment Status (Amortized Cost Basis)
| Current | 30-59 Days Past Due | 60-89 Days Past Due | 90+ Days Past Due
Commercial |  |  |  |
Real estate owner occupied | $ | 786,000 |  | $ | — |  | $ | — |  | $ | — |
C&I | 269,000 |  | 19,000 |  | — |  | — |
Consumer | 36,000 |  | — |  | — |  | — |
Total | $ | 1,091,000 |  | $ | 19,000 |  | $ | — |  | $ | — |

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