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Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

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

The following table summarizes the composition of the ACL, by class of financing receivable and allowance, as of December 31, 2024 and 2023:

As of December 31,			2024						2023
Allowance for Individually Analyzed Loans
Commercial
Real estate owner occupied			$	—					$	—
Real estate non-owner occupied			—						—
Construction			—						—
C&I			1,047,000						223,000
Multifamily			—						—
Agriculture			—						—
Municipal			—						—
Residential
Term			—						41,000
Construction			—						—
Home Equity
Revolving and term			—						—
Consumer			—						—
Total			$	1,047,000					$	264,000
Allowance for Pooled Loans
Commercial
Real estate owner occupied			$	5,045,000					$	4,633,000
Real estate non-owner occupied			4,829,000						4,285,000
Construction			944,000						1,978,000
C&I			4,317,000						4,778,000
Multifamily			1,239,000						1,318,000
Agriculture			605,000						—
Municipal			262,000						334,000
Residential
Term			5,241,000						4,950,000
Construction			474,000						618,000
Home Equity
Revolving and term			686,000						626,000
Consumer			182,000						246,000
Total			$	23,824,000					$	23,766,000
Total Allowance for Credit Losses
Commercial
Real estate owner occupied			$	5,045,000					$	4,633,000
Real estate non-owner occupied			4,829,000						4,285,000
Construction			944,000						1,978,000
C&I			5,364,000						5,001,000
Multifamily			1,239,000						1,318,000
Agriculture			605,000						—
Municipal			262,000						334,000
Residential
Term			5,241,000						4,991,000
Construction			474,000						618,000
Home Equity
Revolving and term			686,000						626,000
Consumer			182,000						246,000
Total			$	24,871,000					$	24,030,000

A breakdown of the ACL as of December 31, 2024 and 2023, by class of financing receivable and allowance element, is presented in the following tables:

As of December 31, 2024			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			$	—		$	4,355,000		$	690,000		$	5,045,000
Real estate non-owner occupied			—			4,237,000			592,000			4,829,000
Construction			—			786,000			158,000			944,000
C&I			1,047,000			3,744,000			573,000			5,364,000
Multifamily			—			1,108,000			131,000			1,239,000
Agriculture			—			449,000			156,000			605,000
Municipal			—			35,000			227,000			262,000
Residential
Term			—			4,811,000			430,000			5,241,000
Construction			—			414,000			60,000			474,000
Home Equity
Revolving and term			—			600,000			86,000			686,000
Consumer			—			175,000			7,000			182,000
			$	1,047,000		$	20,714,000		$	3,110,000		$	24,871,000

As of December 31, 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			$	—		$	3,891,000		$	742,000		$	4,633,000
Real estate non-owner occupied			—			3,759,000			526,000			4,285,000
Construction			—			1,849,000			129,000			1,978,000
C&I			223,000			4,238,000			540,000			5,001,000
Multifamily			—			1,237,000			81,000			1,318,000
Municipal			—			307,000			27,000			334,000
Residential
Term			41,000			4,224,000			726,000			4,991,000
Construction			—			642,000			(24,000)			618,000
Home Equity
Revolving and term			—			469,000			157,000			626,000
Consumer			—			217,000			29,000			246,000
			$	264,000		$	20,833,000		$	2,933,000		$	24,030,000

Schedule of Off-Balance Sheet Allowance

The following table presents the activity in the ACL for off-balance sheet credit exposures for the years ended December 31, 2024 and 2023:

For the years ended December 31,			2024			2023
Allowance for credit losses:
Beginning balance			$	1,255,000		$	100,000
Impact of adopting ASC 326			—			1,297,000
Credit loss reduction			(541,000)			(142,000)
Total ending allowance balance			$	714,000		$	1,255,000

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 of December 31, 2024:

			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
As of December 31, 2024
Commercial
Real estate owner occupied
Pass (risk rating 1-5)			$	47,724		$	62,376		$	77,469		$	39,635		$	26,448		$	81,529		$	10,727		$	1,126		$	347,034
Special Mention (risk rating 6)			125			3,026			5,334			—			195			1,603			50			—			10,333
Substandard (risk rating 7)			41			261			—			257			160			502			—			—			1,221
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Real Estate Owner Occupied			47,890			65,663			82,803			39,892			26,803			83,634			10,777			1,126			358,588
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Real estate non-owner occupied
Pass (risk rating 1-5)			33,083			29,546			72,025			113,630			45,421			96,778			11,241			1,520			403,244
Special Mention (risk rating 6)			—			62			—			44			—			199			—			—			305
Substandard (risk rating 7)			289			—			—			—			—			61			—			—			350
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Real Estate Non-Owner Occupied			33,372			29,608			72,025			113,674			45,421			97,038			11,241			1,520			403,899
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Construction
Pass (risk rating 1-5)			36,478			22,629			26,650			7,826			1,356			2,314			—			—			97,253
Special Mention (risk rating 6)			—			—			2,007			44			—			199			—			—			2,250
Substandard (risk rating 7)			145			—			—			69			—			—			—			—			214
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Construction			36,623			22,629			28,657			7,939			1,356			2,513			—			—			99,717
Current period gross write-offs			—			—			—			—			—			—			—			—			—
C&I
Pass (risk rating 1-5)			69,543			50,204			45,986			39,217			14,958			25,284			114,567			778			360,537
Special Mention (risk rating 6)			25			15			561			478			723			—			900			—			2,702
Substandard (risk rating 7)			473			1,227			356			30			15			19			200			—			2,320
Doubtful (risk rating 8)			—			—			—			—			—			258			—			—			258
Total C&I			70,041			51,446			46,903			39,725			15,696			25,561			115,667			778			365,817
Current period gross write-offs			—			(128)			(39)			(72)			(47)			(165)			—			—			(451)
Agriculture
Pass (risk rating 1-5)			11,694			2,749			5,790			3,835			14,651			6,023			4,546			215			49,503
Special Mention (risk rating 6)			—			474			—			52			—			152			600			—			1,278
Substandard (risk rating 7)			—			75			731			30			—			602			—			—			1,438
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Agriculture			11,694			3,298			6,521			3,917			14,651			6,777			5,146			215			52,219
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Multifamily
Pass (risk rating 1-5)			14,048			13,102			33,558			17,335			14,483			12,152			781			—			105,459
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			1,020			1,341			912			—			—			—			3,273
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Multifamily			14,048			13,102			34,578			18,676			15,395			12,152			781			—			108,732
Current period gross write-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
As of December 31, 2024
Municipal
Pass (risk rating 1-5)			9,503			18,642			4,017			3,822			8,498			17,345			—			—			61,827
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			—			—			—			—			—			—			—
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Municipal			9,503			18,642			4,017			3,822			8,498			17,345			—			—			61,827
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Residential
Term
Performing			56,378			94,816			148,877			130,413			84,028			192,466			2,109			121			709,208
Non-performing			—			—			297			257			380			665			—			—			1,599
Total Term			56,378			94,816			149,174			130,670			84,408			193,131			2,109			121			710,807
Current period gross write-offs			—			—			—			—			—			(37)			—			—			(37)
Construction
Performing			26,386			7,487			925			—			683			—			—			—			35,481
Non-performing			—			—			—			—			—			—			—			—			—
Total Construction			26,386			7,487			925			—			683			—			—			—			35,481
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Home Equity Revolving and Term
Performing			12,449			8,917			8,310			1,894			1,021			1,857			79,132			9,192			122,772
Non-performing			—			—			—			—			—			96			15			180			291
Total Home Equity Revolving and Term			12,449			8,917			8,310			1,894			1,021			1,953			79,147			9,372			123,063
Current period gross write-offs			—			—			—			—			—			(7)			—			—			(7)
Consumer
Performing			3,146			2,438			1,218			734			1,114			5,805			6,335			—			20,790
Non-performing			—			—			—			—			—			—			—			—			—
Total Consumer			3,146			2,438			1,218			734			1,114			5,805			6,335			—			20,790
Current period gross write-offs			(13)			(53)			(72)			(39)			(20)			(55)			—			—			(252)
Total loans			$	321,530		$	318,046		$	435,131		$	360,943		$	215,046		$	445,909		$	231,203		$	13,132		$	2,340,940

The following table summarizes the credit quality for the Company's portfolio by risk category of loans and by class by vintage as of December 31, 2023:

			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 December 31, 2023
Commercial
Real estate owner occupied
Pass (risk rating 1-5)			$	64,693		$	73,920		$	40,782		$	28,716		$	29,856		$	59,236		$	8,993		$	—		$	306,196
Special Mention (risk rating 6)			1,903			—			—			—			5,605			313			—			—			7,821
Substandard (risk rating 7)			283			—			—			—			503			16			—			—			802
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Real Estate Owner Occupied			66,879			73,920			40,782			28,716			35,964			59,565			8,993			—			314,819
Current period gross write-offs			—			—			—			—			—			(40)			—			—			(40)
Real estate non-owner occupied
Pass (risk rating 1-5)			30,666			70,442			129,299			47,959			27,159			83,820			4,230			—			393,575
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			—			—			—			61			—			—			61
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Real Estate Non-Owner Occupied			30,666			70,442			129,299			47,959			27,159			83,881			4,230			—			393,636
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Construction
Pass (risk rating 1-5)			29,781			45,130			8,705			1,581			1,034			2,373			—			—			88,604
Special Mention (risk rating 6)			—			—			69			—			—			—			—			—			69
Substandard (risk rating 7)			—			—			—			—			—			—			—			—			—
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Construction			29,781			45,130			8,774			1,581			1,034			2,373			—			—			88,673
Current period gross write-offs			—			—			—			—			—			—			—			—			—
C&I
Pass (risk rating 1-5)			49,147			61,628			51,848			33,955			6,103			32,032			87,949			973			323,635
Special Mention (risk rating 6)			23,970			3,414			267			546			—			3,373			330			—			31,900
Substandard (risk rating 7)			126			354			35			—			180			455			102			—			1,252
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total C&I			73,243			65,396			52,150			34,501			6,283			35,860			88,381			973			356,787
Current period gross write-offs			—			(114)			—			—			(16)			(23)			—			—			(153)
Multifamily
Pass (risk rating 1-5)			12,046			30,565			18,053			15,033			5,540			8,527			416			—			90,180
Special Mention (risk rating 6)			—			1,020			—			912			—			—			—			—			1,932
Substandard (risk rating 7)			—			—			1,364			—			—			—			—			—			1,364
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Multifamily			12,046			31,585			19,417			15,945			5,540			8,527			416			—			93,476
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 December 31, 2023
Municipal
Pass (risk rating 1-5)			20,210			4,741			3,982			9,775			5,156			7,559			—			—			51,423
Special Mention (risk rating 6)			—			—			—			—			—			—			—			—			—
Substandard (risk rating 7)			—			—			—			—			—			—			—			—			—
Doubtful (risk rating 8)			—			—			—			—			—			—			—			—			—
Total Municipal			20,210			4,741			3,982			9,775			5,156			7,559			—			—			51,423
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Residential
Term
Performing			65,605			156,495			140,254			93,774			39,896			174,341			3,046			129			673,540
Non-performing			—			304			—			40			300			671			—			—			1,315
Total Term			65,605			156,799			140,254			93,814			40,196			175,012			3,046			129			674,855
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Construction
Performing			25,007			6,012			—			1,339			—			—			—			—			32,358
Non-performing			—			—			—			—			—			—			—			—			—
Total Construction			25,007			6,012			—			1,339			—			—			—			—			32,358
Current period gross write-offs			—			—			—			—			—			—			—			—			—
Home Equity Revolving and Term
Performing			10,519			9,319			2,031			1,197			584			1,655			68,006			10,419			103,730
Non-performing			—			—			—			—			—			112			19			165			296
Total Home Equity Revolving and Term			10,519			9,319			2,031			1,197			584			1,767			68,025			10,584			104,026
Current period gross write-offs			—			(50)			—			—			—			—			—			—			(50)
Consumer
Performing			3,664			2,042			1,175			1,794			455			4,564			5,707			—			19,401
Non-performing			—			—			—			—			—			—			—			—			—
Total Consumer			3,664			2,042			1,175			1,794			455			4,564			5,707			—			19,401
Current period gross write-offs			(5)			(46)			(31)			(30)			(7)			(75)			—			—			(194)
Total loans			$	337,620		$	465,386		$	397,864		$	236,621		$	122,371		$	379,108		$	178,798		$	11,686		$	2,129,454

Schedule of Allowance for Loan Losses Transactions

The following table presents ACL activity by class for the year ended December 31, 2024:

			Commercial																		Municipal			Residential						Home Equity			Consumer			Total
Dollars in thousands			Real Estate Owner Occupied			Real Estate Non-Owner Occupied			Construction			C&I			Multifamily			Agriculture						Term			Construction			Revolving and Term
For the year ended December 31, 2024
Beginning balance			$	4,633		$	4,285		$	1,978		$	5,001		$	1,318		$	—		$	334		$	4,991		$	618		$	626		$	246		$	24,030
Chargeoffs			—			—			—			(451)			—			—			—			(37)			—			(7)			(252)			(747)
Recoveries			100			—			—			25			—			—			—			32			—			24			103			284
Credit loss (reduction) expense			312			544			(1,034)			789			(79)			605			(72)			255			(144)			43			85			1,304
Ending balance			$	5,045		$	4,829		$	944		$	5,364		$	1,239		$	605		$	262		$	5,241		$	474		$	686		$	182		$	24,871

The following table presents ACL activity by class for the year ended December 31, 2023:

			Commercial															Municipal			Residential						Home Equity			Consumer			Unallocated			Total
Dollars in thousands			Real Estate Owner Occupied			Real Estate Non-Owner Occupied			Construction			C&I			Multifamily						Term			Construction			Revolving and term
For the year ended December 31, 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
Chargeoffs			(40)			—			—			(153)			—			—			—			—			(50)			(194)			—			(437)
Recoveries			2			75			—			3			—			—			14			—			13			97			—			204
Credit loss (reduction) expense			241			(105)			214			409			134			40			540			(316)			90			83			—			1,330
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			$	4,633		$	4,285		$	1,978		$	5,001		$	1,318		$	334		$	4,991		$	618		$	626		$	246		$	—		$	24,030

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

			Commercial									Municipal			Residential						Home Equity Line of Credit			Consumer			Unallocated			Total
Dollars in thousands			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
Chargeoffs			—			—			(309)			—			(8)			—			(29)			(412)			—			(758)
Recoveries			20			—			13			—			29			—			4			144			—			210
Credit loss (reduction) expense			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
Ending balance specifically evaluated for impairment			$	—		$	—		$	298,000		$	—		$	100,000		$	—		$	—		$	—		$	—		$	398,000
Ending balance collectively evaluated for impairment			$	6,116,000		$	821,000		$	2,799,000		$	162,000		$	2,459,000		$	199,000		$	1,029,000		$	1,062,000		$	1,678,000		$	16,325,000
Related loan balances:
Ending balance			$	699,340,000		$	93,907,000		$	319,359,000		$	40,619,000		$	597,404,000		$	49,907,000		$	93,075,000		$	21,063,000		$	—		$	1,914,674,000
Ending balance specifically evaluated for impairment			$	1,236,000		$	685,000		$	846,000		$	—		$	3,089,000		$	—		$	304,000		$	—		$	—		$	6,160,000
Ending balance collectively evaluated for impairment			$	698,104,000		$	93,222,000		$	318,513,000		$	40,619,000		$	594,315,000		$	49,907,000		$	92,771,000		$	21,063,000		$	—		$	1,908,514,000

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
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+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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