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Loans and Allowance for Credit Losses for Loans (Tables) | 6 Months Ended
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Jun. 30, 2023
Loans and Allowance for Credit Losses for Loans [Abstract] |
Schedule of Loans |
| At |  | At
| June 30, |  | December 31,
| 2023 |  | 2022
(In thousands) | Amount |  | Amount
Commercial real estate | $ | 438,029 |  | $ | 453,592
Commercial |  | 187,965 |  |  | 216,931
Enterprise value |  | 436,574 |  |  | 438,745
Digital asset (1) |  | 16,768 |  |  | 40,781
Residential real estate |  | 7,490 |  |  | 8,165
Construction and land development |  | 96,757 |  |  | 72,267
Consumer |  | 207 |  |  | 391
Mortgage warehouse |  | 173,755 |  |  | 213,244
|  | 1,357,545 |  |  | 1,444,116
Allowance for credit losses - loans |  | (23,981) |  |  | (28,069)
Net loans | $ | 1,333,564 |  | $ | 1,416,047
(1)Includes $16.8 million and $26.5 million in loans secured by cryptocurrency mining rigs at June 30, 2023 and December 31, 2022, respectively.
Schedule of Allowance for Loan Losses and Related Loan Balances by Portfolio Segment |
| For the three months ended June 30,
(In thousands) | Commercial Real Estate |  | Commercial |  | Enterprise value |  | Digital asset |  | Residential ‎Real ‎Estate |  | Construction and Land Development |  | Consumer |  | Mortgage Warehouse |  | Total
Balance at March 31, 2023 | $ | 4,249 |  | $ | 2,615 |  | $ | 10,161 |  | $ | 7,219 |  | $ | 57 |  | $ | 470 |  | $ | 3 |  | $ | 38 |  | $ | 24,812
Charge-offs |  | — |  |  | (126) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (13) |  |  | — |  |  | (139)
Recoveries |  | — |  |  | — |  |  | 45 |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 48
Provision (credit) |  | (180) |  |  | (112) |  |  | (512) |  |  | — |  |  | (2) |  |  | 51 |  |  | 9 |  |  | 6 |  |  | (740)
Balance at June 30, 2023 | $ | 4,069 |  | $ | 2,377 |  | $ | 9,694 |  | $ | 7,219 |  | $ | 55 |  | $ | 521 |  | $ | 2 |  | $ | 44 |  | $ | 23,981
Balance at March 31, 2022 | $ | 4,935 |  | $ | 5,380 |  | $ | 6,076 |  | $ | 1,868 |  | $ | 14 |  | $ | 565 |  | $ | 123 |  | $ | 335 |  | $ | 19,296
Charge-offs |  | — |  |  | (1,338) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (7) |  |  | — |  |  | (1,345)
Recoveries |  | — |  |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | — |  |  | 16
Provision (credit) |  | (133) |  |  | 189 |  |  | 407 |  |  | 502 |  |  | — |  |  | 173 |  |  | (38) |  |  | (95) |  |  | 1,005
Balance at June 30, 2022 | $ | 4,802 |  | $ | 4,236 |  | $ | 6,483 |  | $ | 2,370 |  | $ | 14 |  | $ | 738 |  | $ | 89 |  | $ | 240 |  | $ | 18,972
| For the six months ended June 30,
(In thousands) | Commercial Real Estate |  | Commercial |  | Enterprise value |  | Digital asset |  | Residential ‎Real ‎Estate |  | Construction and Land Development |  | Consumer |  | Mortgage Warehouse |  | Total
Balance at December 31, 2022 | $ | 5,062 |  | $ | 3,582 |  | $ | 7,712 |  | $ | 10,493 |  | $ | 43 |  | $ | 909 |  | $ | 55 |  | $ | 213 |  | $ | 28,069
Impact of adopting ASC 326 |  | (745) |  |  | (711) |  |  | (270) |  |  | (157) |  |  | 18 |  |  | (513) |  |  | (51) |  |  | (159) |  |  | (2,588)
Charge-offs |  | — |  |  | (167) |  |  | (3,560) |  |  | — |  |  | — |  |  | — |  |  | (29) |  |  | — |  |  | (3,756)
Recoveries |  | — |  |  | 10 |  |  | 45 |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 61
Provision (credit) |  | (248) |  |  | (337) |  |  | 5,767 |  |  | (3,117) |  |  | (6) |  |  | 125 |  |  | 21 |  |  | (10) |  |  | 2,195
Balance at June 30, 2023 | $ | 4,069 |  | $ | 2,377 |  | $ | 9,694 |  | $ | 7,219 |  | $ | 55 |  | $ | 521 |  | $ | 2 |  | $ | 44 |  | $ | 23,981
Balance at December 31, 2021 | $ | 4,889 |  | $ | 5,371 |  | $ | 6,158 |  | $ | 2,012 |  | $ | 38 |  | $ | 479 |  | $ | 168 |  | $ | 381 |  | $ | 19,496
Charge-offs |  | — |  |  | (1,338) |  |  | (351) |  |  | — |  |  | — |  |  | — |  |  | (35) |  |  | — |  |  | (1,724)
Recoveries |  | — |  |  | 6 |  |  | 87 |  |  | — |  |  | — |  |  | — |  |  | 19 |  |  | — |  |  | 112
Provision (credit) |  | (87) |  |  | 197 |  |  | 589 |  |  | 358 |  |  | (24) |  |  | 259 |  |  | (63) |  |  | (141) |  |  | 1,088
Balance at June 30, 2022 | $ | 4,802 |  | $ | 4,236 |  | $ | 6,483 |  | $ | 2,370 |  | $ | 14 |  | $ | 738 |  | $ | 89 |  | $ | 240 |  | $ | 18,972
Schedule of Loan Delinquencies by Portfolio Segment |
|  |  |  |  |  |  | 90 Days |  | Total |  |  |  |  |  |
| 30 - 59 |  | 60 - 89 |  | or More |  | Past |  | Total |  | Total
(In thousands) | Days |  | Days |  | Past Due |  | Due |  | Current |  | Loans
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | — |  | $ | — |  | $ | 1 |  | $ | 1 |  | $ | 438,028 |  | $ | 438,029
Commercial |  | — |  |  | — |  |  | 32 |  |  | 32 |  |  | 187,933 |  |  | 187,965
Enterprise value |  | — |  |  | — |  |  | 92 |  |  | 92 |  |  | 436,482 |  |  | 436,574
Digital asset |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,768 |  |  | 16,768
Residential real estate |  | 117 |  |  | 2 |  |  | 213 |  |  | 332 |  |  | 7,158 |  |  | 7,490
Construction and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
land development |  | — |  |  | — |  |  | — |  |  | — |  |  | 96,757 |  |  | 96,757
Consumer |  | — |  |  | 1 |  |  | — |  |  | 1 |  |  | 206 |  |  | 207
Mortgage warehouse |  | — |  |  | — |  |  | — |  |  | — |  |  | 173,755 |  |  | 173,755
Total | $ | 117 |  | $ | 3 |  | $ | 338 |  | $ | 458 |  | $ | 1,357,087 |  | $ | 1,357,545
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial real estate | $ | 240 |  | $ | — |  | $ | 1 |  | $ | 241 |  | $ | 453,351 |  | $ | 453,592
Commercial |  | — |  |  | — |  |  | 41 |  |  | 41 |  |  | 216,890 |  |  | 216,931
Enterprise value |  | — |  |  | — |  |  | 92 |  |  | 92 |  |  | 438,653 |  |  | 438,745
Digital asset |  | — |  |  | — |  |  | — |  |  | — |  |  | 40,781 |  |  | 40,781
Residential real estate |  | — |  |  | — |  |  | 73 |  |  | 73 |  |  | 8,092 |  |  | 8,165
Construction and |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
land development |  | — |  |  | — |  |  | — |  |  | — |  |  | 72,267 |  |  | 72,267
Consumer |  | — |  |  | 9 |  |  | — |  |  | 9 |  |  | 382 |  |  | 391
Mortgage warehouse |  | — |  |  | — |  |  | — |  |  | — |  |  | 213,244 |  |  | 213,244
Total | $ | 240 |  | $ | 9 |  | $ | 207 |  | $ | 456 |  | $ | 1,443,660 |  | $ | 1,444,116
Schedule of Non-Accrual Loans and Loan Past Due Over 89 Days But Still Accruing |
|  | Non-accrual |  |  |  |  | 90 Days
|  | With No |  |  |  |  | or More
|  | Allowance |  | Non-accrual |  | Past Due
(In thousands) |  | for Credit Loss |  | Loans |  | and Accruing
June 30, 2023 |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 160 |  | $ | 160 |  | $ | —
Commercial |  |  | 70 |  |  | 70 |  |  | —
Enterprise value |  |  | 92 |  |  | 4,310 |  |  | —
Digital asset |  |  | — |  |  | 16,768 |  |  | —
Residential real estate |  |  | — |  |  | 361 |  |  | —
Construction and |  |  |  |  |  |  |  |  |
land development |  |  | — |  |  | — |  |  | —
Consumer |  |  | — |  |  | — |  |  | —
Mortgage warehouse |  |  | — |  |  | — |  |  | —
Total |  | $ | 322 |  | $ | 21,669 |  | $ | —
December 31, 2022 |  |  |  |  |  |  |  |  |
Commercial real estate |  | $ | 56 |  | $ | 56 |  | $ | —
Commercial |  |  | 101 |  |  | 101 |  |  | —
Enterprise value |  |  | 92 |  |  | 92 |  |  | —
Digital asset |  |  | — |  |  | 26,488 |  |  | —
Residential real estate |  |  | (70) |  |  | 227 |  |  | —
Construction and |  |  |  |  |  |  |  |  |
land development |  |  | — |  |  | — |  |  | —
Consumer |  |  | — |  |  | — |  |  | —
Mortgage warehouse |  |  | — |  |  | — |  |  | —
Total |  | $ | 179 |  | $ | 26,964 |  | $ | —
Schedule of Amortized Cost Basis of Collateral Dependent Loans |
| Commercial |  |  |  | Cryptocurrency |  |
| Real |  | Business |  | Mining Rigs |  |
(In thousands) | Estate |  | Assets |  | and Other (1) |  | Cash
Commercial real estate | $ | 19,849 |  | $ | — |  | $ | — |  | $ | —
Commercial |  | 37 |  |  | 1 |  |  | — |  |  | —
Enterprise value |  | — |  |  | 4,218 |  |  | — |  |  | 92
Digital asset |  | — |  |  | — |  |  | 16,768 |  |  | —
Residential real estate |  | — |  |  | — |  |  | — |  |  | —
Construction and land development |  | — |  |  | — |  |  | — |  |  | —
Consumer |  | — |  |  | — |  |  | — |  |  | —
Mortgage warehouse |  | — |  |  | — |  |  | — |  |  | —
| $ | 19,886 |  | $ | 4,219 |  | $ | 16,768 |  | $ | 92
(1)Other collateral includes the USD value of Bitcoin held in control accounts as well as cash accounts held at the Bank.
Schedule of Loans Modifies to Borrowers in Financial Distress |
(Dollars in thousands) | Principal Forgiveness |  | Other-Than-Insignificant Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Term Extension and Interest Rate Reduction |  | Total Class of Financing Receivable $ |  | Total Class of Financing Receivable %
June 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 21 |  | $ | 21 |  | 0.01 | %
Enterprise value |  | — |  |  | 21,023 |  |  | — |  |  | — |  |  | — |  |  | 21,023 |  | 4.82 |
Digital asset |  | — |  |  | — |  |  | 16,580 |  |  | — |  |  | — |  |  | 16,580 |  | 98.88 |
Total | $ | — |  | $ | 21,023 |  | $ | 16,580 |  | $ | — |  | $ | 21 |  | $ | 37,624 |  | 2.77 | %
The Company has committed to lend an additional $50,000 based on fund availability through an existing line of credit to a borrower experiencing financial difficulty whose loans had been modified during the six months ended June 30, 2023. The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the six months ended June 30, 2023:
|  | Weighted-Average Payment Delay |  | Weighted-Average Term Extension |  | Weighted-Average Term Extension and Interest Rate Reduction
|  | Months |  | Months |  | Months |  | Percentage
June 30, 2023 |  |  |  |  |  |  |  |  |
Commercial |  | — |  | — |  | 4 |  | 3.25 | %
Enterprise value |  | 5 |  | — |  | — |  | — | %
Digital asset |  | — |  | 3 |  | — |  | — | %
Schedule of Most Recent Analysis Performed, the Risk Category of Loans | Based on the most recent analysis performed, the risk category of loans by class of loans is as follows:
|  | Term Loans at Amortized Cost by Origination Year |  |  |  |  |  |  |  |  |
(In thousands) |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolving Loans Amortized Cost |  | Revolving Loans Converted to Term Loans |  | Total
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 18,014 |  | $ | 54,463 |  | $ | 73,090 |  | $ | 31,353 |  | $ | 62,710 |  | $ | 138,942 |  | $ | 19,420 |  | $ | — |  | $ | 397,992
Special mention |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,133 |  |  | 9,764 |  |  | — |  |  | — |  |  | 12,897
Substandard |  |  | — |  |  | — |  |  | — |  |  | 1,048 |  |  | 4,518 |  |  | 21,573 |  |  | — |  |  | — |  |  | 27,139
Doubtful |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Loss |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1
Total commercial real estate |  |  | 18,014 |  |  | 54,463 |  |  | 73,091 |  |  | 32,401 |  |  | 70,361 |  |  | 170,279 |  |  | 19,420 |  |  | — |  |  | 438,029
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 3,173 |  |  | 12,389 |  |  | 54,060 |  |  | 15,151 |  |  | 17,563 |  |  | 29,048 |  |  | 42,689 |  |  | — |  |  | 174,073
Special mention |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 11 |  |  | 9,955 |  |  | 1,295 |  |  | — |  |  | 11,261
Substandard |  |  | — |  |  | — |  |  | 205 |  |  | — |  |  | 1,959 |  |  | 239 |  |  | 225 |  |  | — |  |  | 2,628
Doubtful |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | — |  |  | 1
Loss |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 2
Total commercial |  |  | 3,173 |  |  | 12,389 |  |  | 54,265 |  |  | 15,151 |  |  | 19,534 |  |  | 39,244 |  |  | 44,209 |  |  | — |  |  | 187,965
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 101 |  |  | 66 |  |  | — |  |  | — |  |  | 167
Enterprise Value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 35,659 |  |  | 118,822 |  |  | 132,858 |  |  | 54,563 |  |  | 29,175 |  |  | 7,716 |  |  | 15,886 |  |  | — |  |  | 394,679
Special mention |  |  | — |  |  | 12,658 |  |  | 6,473 |  |  | 4,827 |  |  | 2,763 |  |  | 1,662 |  |  | 9,201 |  |  | — |  |  | 37,584
Substandard |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,438 |  |  | 780 |  |  | — |  |  | 4,218
Doubtful |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 92 |  |  | — |  |  | — |  |  | 92
Loss |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 1 |  |  | (2) |  |  | — |  |  | — |  |  | 1
Total enterprise value |  |  | 35,659 |  |  | 131,480 |  |  | 139,331 |  |  | 59,392 |  |  | 31,939 |  |  | 12,906 |  |  | 25,867 |  |  | — |  |  | 436,574
Enterprise value |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | 3,560 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,560
Digital Asset |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Special mention |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard |  |  | — |  |  | 16,580 |  |  | 188 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,768
Doubtful |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Loss |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total digital asset |  |  | — |  |  | 16,580 |  |  | 188 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,768
Digital asset |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Residential Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 193 |  |  | 3,868 |  |  | 2,716 |  |  | 347 |  |  | 7,124
Substandard |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 291 |  |  | 70 |  |  | — |  |  | 366
Total residential real estate |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | 193 |  |  | 4,159 |  |  | 2,786 |  |  | 347 |  |  | 7,490
Residential real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Construction and Land Development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 12 |  |  | 44,761 |  |  | 49,394 |  |  | — |  |  | — |  |  | 1,539 |  |  | 1,051 |  |  | — |  |  | 96,757
Special mention |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Doubtful |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Loss |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total construction and land development |  |  | 12 |  |  | 44,761 |  |  | 49,394 |  |  | — |  |  | — |  |  | 1,539 |  |  | 1,051 |  |  | — |  |  | 96,757
Construction and land development |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not formally rated |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 119 |  |  | — |  |  | 88 |  |  | — |  |  | 207
Total consumer |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 119 |  |  | — |  |  | 88 |  |  | — |  |  | 207
Consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 12 |  |  | 17 |  |  | — |  |  | — |  |  | 29
Mortgage Warehouse |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 173,755 |  |  | — |  |  | 173,755
Special mention |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Doubtful |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Loss |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total mortgage warehouse |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 173,755 |  |  | — |  |  | 173,755
Mortgage warehouse |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Current period gross write offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
The following table presents the Company’s loans by risk rating and portfolio segment at December 31, 2022:
(In thousands) | Commercial Real Estate |  | Commercial |  | Enterprise Value |  | Digital Asset |  | Residential Real Estate |  |  | Construction ‎and Land ‎Development |  | Consumer |  | Mortgage Warehouse |  | Total
December 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Grade: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 399,455 |  | $ | 202,895 |  | $ | 408,616 |  | $ | 4,724 |  | $ | 7,938 |  | $ | 72,267 |  | $ | — |  | $ | 213,244 |  | $ | 1,309,139
Special mention |  | 26,995 |  |  | 11,015 |  |  | 20,091 |  |  | 9,569 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 67,670
Substandard |  | 27,141 |  |  | 2,854 |  |  | 9,946 |  |  | 26,488 |  |  | 227 |  |  | — |  |  | — |  |  | — |  |  | 66,656
Doubtful |  | — |  |  | 165 |  |  | 92 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 257
Loss |  | 1 |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3
Not formally rated |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 391 |  |  | — |  |  | 391
Total | $ | 453,592 |  | $ | 216,931 |  | $ | 438,745 |  | $ | 40,781 |  | $ | 8,165 |  | $ | 72,267 |  | $ | 391 |  | $ | 213,244 |  | $ | 1,444,116

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