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Loans and Allowance for Loan Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Schedule of Composition of the Loan Portfolio | A summary of the composition of the loan portfolio at September 30, 2024 and December 31, 2023 (dollars in thousands):
| September 30, 2024 |  | December 31, 2023
Commercial real estate | $ | 51,387 |  |  | $ | 60,138 |
Commercial | 11,144 |  |  | 12,438 |
Residential real estate closed-end | 218,129 |  |  | 210,358 |
Other consumer loans | 19,372 |  |  | 21,210 |
| 300,032 |  |  | 304,144 |
Less allowance for credit losses | (4,206) |  |  | (4,319) |
Loans, net | $ | 295,826 |  |  | $ | 299,825 |
Schedule of Allowance for Credit Losses by Portfolio Type | The following tables present the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2024 and 2023 (dollars in thousands):
| September 30, 2024
| Commercial Real Estate |  | Commercial |  | Residential Real Estate Closed-End |  | Other Consumer Loans |  | Total
For the three months ended |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Beginning balance, June 30, 2024 | $ | 1,136 |  |  | $ | 167 |  |  | $ | 2,756 |  |  | $ | 278 |  |  | $ | 4,337 |
Provision for (recapture of) credit losses | (114) |  |  | (3) |  |  | 18 |  |  | (32) |  |  | (131) |
Loans charged-off | — |  |  | — |  |  | — |  |  | — |  |  | — |
Recoveries collected | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ending balance, September 30, 2024 | $ | 1,022 |  |  | $ | 164 |  |  | $ | 2,774 |  |  | $ | 246 |  |  | $ | 4,206 |
| September 30, 2023
| Commercial Real Estate |  | Commercial |  | Residential Real Estate Closed-End |  | Other Consumer Loans |  | Total
For the three months ended |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Beginning balance, June 30, 2023 | $ | 1,142 |  |  | $ | 239 |  |  | $ | 2,793 |  |  | $ | 225 |  |  | $ | 4,399 |
Provision for (recapture of) credit losses | (102) |  |  | (48) |  |  | 170 |  |  | (19) |  |  | 1 |
Loans charged-off | — |  |  | — |  |  | — |  |  | — |  |  | — |
Recoveries collected | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ending balance, September 30, 2023 | $ | 1,040 |  |  | $ | 191 |  |  | $ | 2,963 |  |  | $ | 206 |  |  | $ | 4,400 |
| September 30, 2024
| Commercial Real Estate |  | Commercial |  | Residential Real Estate Closed-End |  | Other Consumer Loans |  | Total
For the nine months ended |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Beginning balance, December 31, 2023 | $ | 1,233 |  |  | $ | 189 |  |  | $ | 2,668 |  |  | $ | 229 |  |  | $ | 4,319 |
Provision for (recapture of) credit losses | (211) |  |  | (25) |  |  | 106 |  |  | 17 |  |  | (113) |
Loans charged-off | — |  |  | — |  |  | — |  |  | — |  |  | — |
Recoveries collected | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ending balance, September 30, 2024 | $ | 1,022 |  |  | $ | 164 |  |  | $ | 2,774 |  |  | $ | 246 |  |  | $ | 4,206 |
| September 30, 2023
| Commercial Real Estate |  | Commercial |  | Residential Real Estate Closed-End |  | Other Consumer Loans |  | Total
For the nine months ended |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Beginning balance, December 31, 2022 | $ | 905 |  |  | $ | 573 |  |  | $ | 2,650 |  |  | $ | 354 |  |  | $ | 4,482 |
Impact of adopting ASC 326 | 130 |  |  | 19 |  |  | (16) |  |  | (133) |  |  | — |
Provision for (recapture of) credit losses | 5 |  |  | (401) |  |  | 329 |  |  | (15) |  |  | (82) |
Loans charged-off | — |  |  | — |  |  | — |  |  | — |  |  | — |
Recoveries collected | — |  |  | — |  |  | — |  |  | — |  |  | — |
Ending balance, September 30, 2023 | $ | 1,040 |  |  | $ | 191 |  |  | $ | 2,963 |  |  | $ | 206 |  |  | $ | 4,400 |
Schedule of Amortized Costs by Segment of Loans and Credit Risk Profile of Loan Portfolio | The following table presents the outstanding balance of the loan portfolio, by year of origination, loan classification, and credit quality, as of September 30, 2024 and December 31, 2023 (dollars in thousands):
September 30, 2024 | Term Loans by Year of Origination |  | Revolving Loans |  | Revolving to Term Loans |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | 1,338 |  |  | $ | 5,458 |  |  | $ | 8,950 |  |  | $ | 3,500 |  |  | $ | 26,581 |  |  | $ | — |  |  | $ | 3,690 |  |  | $ | 49,517 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,526 |  |  | — |  |  | — |  |  | 1,526 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 344 |  |  | — |  |  | — |  |  | 344 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | — |  |  | $ | 1,338 |  |  | $ | 5,458 |  |  | $ | 8,950 |  |  | $ | 3,500 |  |  | $ | 28,451 |  |  | $ | — |  |  | $ | 3,690 |  |  | $ | 51,387 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 424 |  |  | $ | — |  |  | $ | 557 |  |  | $ | 11 |  |  | $ | 3 |  |  | $ | 1,389 |  |  | $ | 8,760 |  |  | $ | — |  |  | $ | 11,144 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 424 |  |  | $ | — |  |  | $ | 557 |  |  | $ | 11 |  |  | $ | 3 |  |  | $ | 1,389 |  |  | $ | 8,760 |  |  | $ | — |  |  | $ | 11,144 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
September 30, 2024 | Term Loans by Year of Origination |  | Revolving Loans |  | Revolving to Term Loans |  | Total
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Residential real estate closed-end |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 18,574 |  |  | $ | 17,911 |  |  | $ | 47,541 |  |  | $ | 43,650 |  |  | $ | 23,600 |  |  | $ | 66,616 |  |  | $ | — |  |  | $ | — |  |  | $ | 217,892 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 237 |  |  | — |  |  | — |  |  | 237 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 18,574 |  |  | $ | 17,911 |  |  | $ | 47,541 |  |  | $ | 43,650 |  |  | $ | 23,600 |  |  | $ | 66,853 |  |  | $ | — |  |  | $ | — |  |  | $ | 218,129 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,869 |  |  | $ | 1,503 |  |  | $ | 19,372 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,869 |  |  | $ | 1,503 |  |  | $ | 19,372 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2023 | Term Loans by Year of Origination |  | Revolving Loans |  | Revolving to Term Loans |  | Total
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
Commercial real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 849 |  |  | $ | 5,521 |  |  | $ | 9,327 |  |  | $ | 3,713 |  |  | $ | 8,015 |  |  | $ | 21,875 |  |  | $ | — |  |  | $ | 8,895 |  |  | $ | 58,195 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,570 |  |  | — |  |  | — |  |  | 1,570 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 373 |  |  | — |  |  | — |  |  | 373 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 849 |  |  | $ | 5,521 |  |  | $ | 9,327 |  |  | $ | 3,713 |  |  | $ | 8,015 |  |  | $ | 23,818 |  |  | $ | — |  |  | $ | 8,895 |  |  | $ | 60,138 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | 573 |  |  | $ | 14 |  |  | $ | 42 |  |  | $ | 1,352 |  |  | $ | 309 |  |  | $ | 10,148 |  |  | $ | — |  |  | $ | 12,438 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | — |  |  | $ | 573 |  |  | $ | 14 |  |  | $ | 42 |  |  | $ | 1,352 |  |  | $ | 309 |  |  | $ | 10,148 |  |  | $ | — |  |  | $ | 12,438 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
December 31, 2023 | Term Loans by Year of Origination |  | Revolving Loans |  | Revolving to Term Loans |  | Total
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
Residential real estate closed end |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 20,230 |  |  | $ | 45,920 |  |  | $ | 45,528 |  |  | $ | 25,150 |  |  | $ | 18,035 |  |  | $ | 55,253 |  |  | $ | — |  |  | $ | — |  |  | $ | 210,116 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 242 |  |  | — |  |  | — |  |  | 242 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | 20,230 |  |  | $ | 45,920 |  |  | $ | 45,528 |  |  | $ | 25,150 |  |  | $ | 18,035 |  |  | $ | 55,495 |  |  | $ | — |  |  | $ | — |  |  | $ | 210,358 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Other consumer loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | — |  |  | $ | 32 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,703 |  |  | $ | 3,475 |  |  | $ | 21,210 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Loss | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | $ | — |  |  | $ | — |  |  | $ | 32 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 17,703 |  |  | $ | 3,475 |  |  | $ | 21,210 |
Current period gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |

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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 -Section 50 -Paragraph 11B -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-11B Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13 + Details
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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481962/310-10-50-29 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479319/326-20-50-5 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(4)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(3)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 + Details
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