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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract] |
Schedule of impact of adopting Topic 326 |
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | January 1, 2023
(in thousands) | ​ | As Reported Under ASU 2016-13 | ​ | Pre ASU 2016-13 | ​ | Impact of ASU 2016-13 Adoption
Assets | ​ | ​ | ​ | ​ | ​ | ​
Allowance for credit losses on loans | ​ | ​ | ​ | ​ | ​ | ​
Commercial real estate | $ | 5,202 | $ | 6,345 | $ | (1,143)
Acquisition and development | ​ | 964 | ​ | 979 | ​ | (15)
Commercial and industrial | ​ | 4,179 | ​ | 2,845 | ​ | 1,334
Residentail mortgage | ​ | 5,272 | ​ | 3,160 | ​ | 2,112
Consumer | ​ | 1,085 | ​ | 877 | ​ | 208
Unallocated | ​ | - | ​ | 430 | ​ | (430)
Allowance for Credit Losses on Loans | $ | 16,702 | $ | 14,636 | $ | 2,066
Assets: | ​ | ​ | ​ | ​ | ​ | ​
Investment securities- available for sale (at fair value) | $ | 125,889 | $ | 125,889 | $ | -
Investment securities- held to maturity | ​ | 245,659 | ​ | 245,659 | ​ | -
Total loans held for investments, net | ​ | 1,262,792 | ​ | 1,264,858 | ​ | (2,066)
Net deferred tax asset | ​ | 11,381 | ​ | 10,605 | ​ | 776
Liabilities: | ​ | ​ | ​ | ​ | ​ | ​
Life-of-loss reserve on unfunded loan commitments | $ | 998 | $ | 133 | $ | 865
Equity: | ​ | ​ | ​ | ​ | ​ | ​
Retained earnings | $ | 149,638 | $ | 151,793 | $ | (2,155)
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- Definition Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9 + Details
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