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Allowance for Loan Credit Losses | 9 Months Ended
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Sep. 30, 2024
Allowance for Loan Credit Losses |
Allowance for Loan Credit Losses | Note 4— Allowance for Loan Credit Losses The following tables present the activity in the allowance for loan credit losses for the nine months ended September 30, 2024 and September 30, 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2024
​ | ​ | Real Estate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Construction & | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Land | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dollars in thousands | ​ | Commercial | ​ | Development | ​ | Residential | ​ | Commercial | ​ | Consumer | ​ | Total
Beginning balance, December 31, 2023 | ​ | $ | 12,841 | ​ | $ | 1,787 | ​ | $ | 4,323 | ​ | $ | 495 | ​ | $ | 97 | ​ | $ | 19,543
Charge-offs | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 2
Provision for (recovery of) credit losses | ​ | ​ | (1,286) | ​ | ​ | (90) | ​ | ​ | 319 | ​ | ​ | 37 | ​ | ​ | (44) | ​ | ​ | (1,064)
Ending balance, September 30, 2024 | ​ | $ | 11,555 | ​ | $ | 1,697 | ​ | $ | 4,642 | ​ | $ | 534 | ​ | $ | 53 | ​ | $ | 18,481
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ | ​ | Real Estate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Construction & | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Land | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Dollars in thousands | ​ | Commercial | ​ | Development | ​ | Residential | ​ | Commercial | ​ | Consumer | ​ | Unallocated | ​ | Total
Beginning balance, December 31, 2022 |  | $ | 13,205 | ​ | $ | 2,860 | ​ | $ | 3,044 | ​ | $ | 456 | ​ | $ | 5 | ​ | $ | 638 | ​ | $ | 20,208
Adjustment to allowance for adoption of ASC 326 | ​ | ​ | (2,649) | ​ | ​ | 476 | ​ | ​ | 4,552 | ​ | ​ | 367 | ​ | ​ | 57 | ​ | ​ | (638) | ​ | ​ | 2,165
Charge-offs |  | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Recoveries |  | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2
Provision for (recovery of) credit losses |  | ​ | 2,187 | ​ | ​ | (1,148) | ​ | ​ | (3,014) | ​ | ​ | (360) | ​ | ​ | (4) | ​ | ​ | — | ​ | ​ | (2,339)
Ending balance, September 30, 2023 | ​ | $ | 12,743 | ​ | $ | 2,188 | ​ | $ | 4,582 | ​ | $ | 465 | ​ | $ | 58 | ​ | $ | — | ​ | $ | 20,036
​ There was one collateral dependent loan totaling $10.0 million in outstanding principal that was individually evaluated as of September 30, 2024. Management concluded that the collateral value of the of the loan, minus the estimated cost to sell, exceeded the carrying value of the loan and no reserve was necessary. There were no collateral dependent or individually evaluated loans as of December 31, 2023. ​ Delinquency Information ​ The following tables present a summary of past due and nonaccrual loans by segment as of September 30, 2024 and December 31, 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, 2024
​ | ​ | 30-59 Days | ​ | 60-89 Days | ​ | 90 Days or | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 90 Days or More | ​ | ​ | ​
​ | ​ | Past | ​ | Past | ​ | More | ​ | Total Past | ​ | ​ | ​ | ​ | Total | ​ | Past Due and | ​ | Nonaccrual
(Dollars in thousands) |  | Due |  | Due |  | Past Due |  | Due |  | Current |  | Loans |  | Still Accruing |  | Loans
Real Estate Loans |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,162,103 |  | $ | 1,162,103 | ​ | $ | — | ​ | $ | —
Construction and land development | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 161,466 |  | ​ | 161,466 | ​ |  | — | ​ |  | —
Residential | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 473,787 |  | ​ | 473,787 | ​ |  | — | ​ |  | —
Commercial | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 39,867 |  | ​ | 39,867 | ​ |  | — | ​ |  | —
Consumer | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 877 |  | ​ | 877 | ​ |  | — | ​ |  | —
Total Loans | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,838,100 | ​ | $ | 1,838,100 | ​ | $ | — | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | December 31, 2023
​ | ​ | 30-59 Days | ​ | 60-89 Days | ​ | 90 Days or | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 90 Days or More | ​ | ​ | ​
​ | ​ | Past | ​ | Past | ​ | More | ​ | Total Past | ​ | ​ | ​ | ​ | Total | ​ | Past Due and | ​ | Nonaccrual
(Dollars in thousands) | ​ | Due |  | Due |  | Past Due |  | Due |  | Current |  | Loans |  | Still Accruing |  | Loans
Real Estate Loans |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,146,116 |  | $ | 1,146,116 | ​ | $ | — | ​ | $ | —
Construction and land development | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 180,922 |  | ​ | 180,922 | ​ |  | — | ​ |  | —
Residential | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 482,182 |  | ​ | 482,182 | ​ |  | — | ​ |  | —
Commercial | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 45,204 |  | ​ | 45,204 | ​ |  | — | ​ |  | —
Consumer | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | 560 |  | ​ | 560 | ​ |  | — | ​ |  | —
Total Loans | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,854,984 | ​ | $ | 1,854,984 | ​ | $ | — | ​ | $ | —
​ Credit Quality Indicators The Company assesses credit quality indicators based on internal risk rating of loans. Each loan is evaluated at least annually with more frequent evaluation of more severely criticized loans. The indicators represent the rating for loans as of the date presented is based on the most recent credit review performed. Internal risk rating definitions are: Pass: These include satisfactory loans that have acceptable levels of risk. Special Mention: Loans classified as special mention have a potential weakness that requires close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Company’s credit position at some future date. These credits do not expose the Company to sufficient risk to warrant further adverse classification. Substandard: A substandard asset is inadequately protected by the current worth and paying capacity of the obligor or of the collateral pledged, if any. Loans classified as substandard must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in a substandard asset with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss: Loans classified as loss are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be received in the future. ​ The Company has a portfolio of smaller homogenous loans that are not individually risk rated and include residential permanent and construction mortgages, home equity lines of credit, and consumer installment loans. For these loans, management uses payment status as the primary credit quality indicator. The payment status of these loans is then translated into an internal risk rating. The following table summarizes the translation of past due status to risk rating for loans that are not individually risk rated. ​
​ | ​ | ​
​ | ​ | Internal
Days Past Due | ​ | Risk Rating
0 - 29 days | ​ | Pass
30-59 days | ​ | Special Mention
60-89 days | ​ | Substandard
90-119 days | ​ | Doubtful
120+ days | ​ | Loss
​ The following table presents the Company’s recorded investment in loans by credit quality indicator by year of origination as of September 30, 2024. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Term Loans by Year of Origination | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | 2024 | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | Prior | ​ | Revolving | ​ | Total
Real Estate Loans - Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 78,092 | ​ | $ | 66,659 | ​ | $ | 300,478 | ​ | $ | 188,851 | ​ | $ | 117,522 | ​ | $ | 380,300 | ​ | $ | 1,483 | ​ | $ | 1,133,385
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 12,702 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 6,038 | ​ | ​ | — | ​ | ​ | 18,740
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,978 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9,978
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Real Estate Loans - Commercial | ​ | $ | 78,092 | ​ | $ | 66,659 | ​ | $ | 313,180 | ​ | $ | 198,829 | ​ | $ | 117,522 | ​ | $ | 386,338 | ​ | $ | 1,483 | ​ | $ | 1,162,103
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Real Estate Loans - Construction and land development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 49,926 | ​ | $ | 46,328 | ​ | $ | 26,319 | ​ | $ | 4,224 | ​ | $ | 3,971 | ​ | $ | 4,750 | ​ | $ | 24,842 | ​ | $ | 160,360
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,106 | ​ | ​ | — | ​ | ​ | 1,106
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Real Estate Loans - Construction and land development | ​ | $ | 49,926 | ​ | $ | 46,328 | ​ | $ | 26,319 | ​ | $ | 4,224 | ​ | $ | 3,971 | ​ | $ | 5,856 | ​ | $ | 24,842 | ​ | $ | 161,466
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Real Estate Loans - Residential | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 21,531 | ​ | $ | 75,694 | ​ | $ | 112,728 | ​ | $ | 117,254 | ​ | $ | 82,799 | ​ | $ | 42,388 | ​ | $ | 21,393 | ​ | $ | 473,787
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Real Estate Loans - Residential | ​ | $ | 21,531 | ​ | $ | 75,694 | ​ | $ | 112,728 | ​ | $ | 117,254 | ​ | $ | 82,799 | ​ | $ | 42,388 | ​ | $ | 21,393 | ​ | $ | 473,787
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 4,967 | ​ | $ | 5,077 | ​ | $ | 6,004 | ​ | $ | 1,503 | ​ | $ | 1,667 | ​ | $ | 7,521 | ​ | $ | 13,128 | ​ | $ | 39,867
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Commercial Loans | ​ | $ | 4,967 | ​ | $ | 5,077 | ​ | $ | 6,004 | ​ | $ | 1,503 | ​ | $ | 1,667 | ​ | $ | 7,521 | ​ | $ | 13,128 | ​ | $ | 39,867
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 772 | ​ | $ | 81 | ​ | $ | 2 | ​ | $ | — | ​ | $ | — | ​ | $ | 3 | ​ | $ | 19 | ​ | $ | 877
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Consumer Loans | ​ | $ | 772 | ​ | $ | 81 | ​ | $ | 2 | ​ | $ | — | ​ | $ | — | ​ | $ | 3 | ​ | $ | 19 | ​ | $ | 877
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ ​ The following table presents the Company’s recorded investment in loans by credit quality indicator by year of origination as of December 31, 2023. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Term Loans by Year of Origination | ​ | ​ | ​ | ​ | ​ | ​
(Dollars in thousands) | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | Prior | ​ | Revolving | ​ | Total
Real Estate Loans - Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 67,675 | ​ | $ | 302,342 | ​ | $ | 201,801 | ​ | $ | 125,828 | ​ | $ | 96,424 | ​ | $ | 334,132 | ​ | $ | 3,575 | ​ | $ | 1,131,777
Special mention | ​ | ​ | — | ​ | ​ | 13,102 | ​ | ​ | — | ​ | ​ | 1,237 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 14,339
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Real Estate Loans - Commercial | ​ | $ | 67,675 | ​ | $ | 315,444 | ​ | $ | 201,801 | ​ | $ | 127,065 | ​ | $ | 96,424 | ​ | $ | 334,132 | ​ | $ | 3,575 | ​ | $ | 1,146,116
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Real Estate Loans - Construction and land development | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 47,253 | ​ | $ | 56,408 | ​ | $ | 33,827 | ​ | $ | 9,360 | ​ | $ | 8 | ​ | $ | 7,046 | ​ | $ | 24,891 | ​ | $ | 178,793
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,129 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,129
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Real Estate Loans - Construction and land development | ​ | $ | 47,253 | ​ | $ | 56,408 | ​ | $ | 33,827 | ​ | $ | 9,360 | ​ | $ | 2,137 | ​ | $ | 7,046 | ​ | $ | 24,891 | ​ | $ | 180,922
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Real Estate Loans - Residential | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 83,060 | ​ | $ | 114,865 | ​ | $ | 133,188 | ​ | $ | 87,275 | ​ | $ | 24,883 | ​ | $ | 21,380 | ​ | $ | 17,531 | ​ | $ | 482,182
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Real Estate Loans - Residential | ​ | $ | 83,060 | ​ | $ | 114,865 | ​ | $ | 133,188 | ​ | $ | 87,275 | ​ | $ | 24,883 | ​ | $ | 21,380 | ​ | $ | 17,531 | ​ | $ | 482,182
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 7,564 | ​ | $ | 6,838 | ​ | $ | 1,959 | ​ | $ | 3,207 | ​ | $ | 4,482 | ​ | $ | 4,787 | ​ | $ | 16,367 | ​ | $ | 45,204
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Commercial Loans | ​ | $ | 7,564 | ​ | $ | 6,838 | ​ | $ | 1,959 | ​ | $ | 3,207 | ​ | $ | 4,482 | ​ | $ | 4,787 | ​ | $ | 16,367 | ​ | $ | 45,204
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Consumer Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 485 | ​ | $ | 6 | ​ | $ | 26 | ​ | $ | — | ​ | $ | — | ​ | $ | 10 | ​ | $ | 33 | ​ | $ | 560
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Loss | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total Consumer Loans | ​ | $ | 485 | ​ | $ | 6 | ​ | $ | 26 | ​ | $ | — | ​ | $ | — | ​ | $ | 10 | ​ | $ | 33 | ​ | $ | 560
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Current period gross write-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​ Modifications with Borrowers Experiencing Financial Difficulty ​ The allowance for loan credit losses incorporates an estimate of lifetime expected credit losses and is recorded on each asset upon asset origination. The starting point for the estimate of the allowance for loan credit losses is historical loss information, which includes losses from modifications of receivables to borrowers experiencing financial difficulty. The Company may provide concessions to borrowers experiencing financial difficulty to minimize the economic loss and improve long-term loan performance and collectability. An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. The Company made one loan modification to a borrower experiencing financial difficulty during the three and nine months ended September 30, 2024. As of September 30, 2024, the outstanding principal balance of the loan was $1.5 million which represents 0.13% of the Real Estate Loans - Commercial loan segment. The loan was modified to provide a combination of interest rate and term extension. As of September 30, 2024, this loan was current and paying in accordance with the modified terms. The Company did not make any loan modifications to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2023. ​ Unfunded Commitments The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not unconditionally cancellable by the Company. The allowance for off-balance sheet credit exposures is adjusted as a provision for (or recovery of) credit losses in the Consolidated Statements of Income. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding study derived from internal information, and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for loan credit losses. The allowance for credit losses for unfunded loan commitments of $1.0 million and $0.6 million at September 30, 2024 and December 31, 2023, respectively, is separately classified within Other Liabilities on the Consolidated Balance Sheets. The provision for credit losses recorded during the nine months ended September 30, 2024 was primarily due to an increase in unfunded commitments. The following table presents the balance and activity in the allowance for credit losses for unfunded loan commitments for the nine months ended September 30, 2024 and September 30, 2023. ​
​ | ​ | ​ | ​
​ | ​ | Allowance for Credit Losses
(Dollars in thousands) |  | Unfunded Commitments
Beginning balance, December 31, 2023 | ​ | $ | 620
Provision for credit losses | ​ | ​ | 397
Ending balance, September 30, 2024 | ​ | $ | 1,017
​
​ | ​ | ​ | ​
​ | ​ | ​ | ​
​ | ​ | Allowance for Credit Losses
(Dollars in thousands) |  | Unfunded Commitments
Beginning balance, December 31, 2022 | ​ | $ | 303
Adjustment to allowance for unfunded commitments for adoption of ASC 326 | ​ | ​ | 737
Provision for (recovery of) credit losses | ​ | ​ | (132)
Ending balance, September 30, 2023 | ​ | $ | 908
​

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- Definition The entire disclosure for claims held for amounts due to entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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