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Loans | 9 Months Ended
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Sep. 30, 2024
Loans |
Loans | Note 3— Loans The following table presents the composition of the Company’s loan portfolio as of September 30, 2024 and December 31, 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) |  | September 30, 2024 |  | December 31, 2023
Real Estate Loans: | ​ |  | ​ | ​ |  | ​
Commercial | ​ | $ | 1,162,103 | ​ | $ | 1,146,116
Construction and land development | ​ |  | 161,466 | ​ |  | 180,922
Residential | ​ | ​ | 473,787 | ​ | ​ | 482,182
Commercial - Non-Real Estate: | ​ |  |  | ​ |  |
Commercial loans | ​ |  | 39,867 | ​ |  | 45,204
Consumer - Non-Real Estate: | ​ |  |  | ​ |  |
Consumer loans | ​ |  | 877 | ​ |  | 560
Total Gross Loans | ​ | $ | 1,838,100 | ​ | $ | 1,854,984
Allowance for loan credit losses | ​ |  | (18,481) | ​ |  | (19,543)
Net deferred loan costs | ​ |  | 4,498 | ​ |  | 4,983
Total net loans | ​ | $ | 1,824,117 | ​ | $ | 1,840,424
​ ​ Portfolio Segments ​ The Company currently manages its loan products and the respective exposure to credit losses by the following specific portfolio segments which are levels at which the Company develops and documents its systematic methodology to determine the allowance for loan credit losses attributable to each respective portfolio segment. These segments are: ​
| ● | Real estate - commercial loans – The real estate commercial loans category contains commercial mortgage loans secured by owner occupied, non-owner occupied, and multifamily real estate.
| ● | Real estate - construction and land development loans – The real estate construction and land development loans category contains residential and commercial construction loan financing to builders and developers and to consumers building their own homes.
| ● | Real estate - residential loans – The real estate residential mortgage loans category contains permanent mortgage loans principally to consumers secured by residential real estate.
| ● | Commercial loans – The commercial loans category contains business purpose loans made to provide funds for the financing of equipment, receivables, contract administration expenses, and other general corporate needs of commercial businesses.
| ● | Consumer loans – The consumer loans category contains personal loans such as installment loans and lines of credit.

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- Definition The entire disclosure for claims held for amounts due a company, excluding disclosure for allowance for credit losses. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Also excludes disclosure for financing receivables. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/310-10/tableOfContent + Details
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