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Loans (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of Loan Portfolio

The following table summarizes the composition of our loan portfolio. Total loans are recorded net of deferred loan fees and costs, which totaled $1.8 million and $1.4 million as of September 30, 2022 and December 31, 2021, respectively. 

Schedule of Loan Portfolio

Loans

		September 30,				December 31,
(Dollars in thousands)		2022				2021
Commercial, financial and agricultural		$	70,712			$	69,952
Real estate:
Construction			84,355				94,969
Mortgage-residential			53,553				45,498
Mortgage-commercial			698,416				617,464
Consumer:
Home equity			28,800				27,116
Other			14,374				8,703
Total loans, net of deferred loan fees and costs		$	950,210			$	863,702

Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable

The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended and nine months ended September 30, 2022 and September 30, 2021 and for the year ended December 31, 2021 is as follows:

Schedule of activity in the allowance for loan losses and the recorded investment in loans receivable

Loans (Details 2)

(Dollars in thousands)		Commercial				Real estate Construction				Real estate Mortgage Residential				Real estate Mortgage Commercial				Consumer Home equity				Consumer Other				Unallocated				Total
Three months ended September 30, 2022
Allowance for loan losses:
Beginning balance June 30, 2022		$	817			$	84			$	546			$	8,639			$	315			$	202			$	617			$	11,220
Charge-offs			—				—				—				—				(1	)			(13	)			—				(14	)
Recoveries			5				—				4				75				3				4				—				91
Provisions			(19	)			(16	)			57				(12	)			4				(8	)			12				18
Ending balance September 30, 2022		$	803			$	68			$	607			$	8,702			$	321			$	185			$	629			$	11,315
										Real estate				Real estate				Consumer
						Real estate				Mortgage				Mortgage				Home				Consumer
(Dollars in thousands)		Commercial				Construction				Residential				Commercial				equity				Other				Unallocated				Total
Nine months ended September 30, 2022
Allowance for loan losses:
Beginning balance December 31, 2021		$	853			$	113			$	560			$	8,570			$	333			$	126			$	624			$	11,179
Charge-offs			—				—				—				—				(1	)			(46	)			—				(47	)
Recoveries			16				—				5				318				10				11				—				360
Provisions			(66	)			(45	)			42				(186	)			(21	)			94				5				(177	)
Ending balance September 30, 2022		$	803			$	68			$	607			$	8,702			$	321			$	185			$	629			$	11,315
Ending balances:
Individually evaluated for impairment		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Collectively evaluated for impairment			803			$	68			$	607			$	8,702			$	321			$	185			$	629			$	11,315
September 30, 2022 Loans receivable:
Ending balance-total		$	70,712			$	84,355			$	53,553			$	698,416			$	28,800			$	14,374			$	—			$	950,210
Ending balances:
Individually evaluated for impairment			—				—				39				4,759				168				—				—				4,966
Collectively evaluated for impairment		$	70,712			$	84,355			$	53,514			$	693,657			$	28,632			$	14,374			$	—			$	945,244

Schedule of loan category and loans individually evaluated and considered impaired

The following tables are by loan category and present September 30, 2022, September 30, 2021, and December 31, 2021 loans individually evaluated and considered impaired under FASB ASC 310 “Accounting by Creditors for Impairment of a Loan.” Impairment includes performing TDRs.

Schedule of loan category and loans individually evaluated and considered impaired

														Nine months ended								Three months ended
						Unpaid								Average				Interest				Average				Interest
(Dollars in thousands)		Recorded				Principal				Related				Recorded				Income				Recorded				Income
September 30, 2022		Investment				Balance				Allowance				Investment				Recognized				Investment				Recognized
With no allowance recorded:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			39				55				—				45				2				39				1
Mortgage-commercial			4,759				8,955				—				4,795				347				4,747				117
Consumer:
Home equity			168				168				—				169				6				168				2
Other			—				—				—				—				—				—				—
With an allowance recorded:
Commercial, financial, agricultural			—				—				—				—				—				—				—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			—				—				—				—				—				—				—
Mortgage-commercial			—				—				—				—				—				—				—
Consumer:
Home equity			—				—				—				—				—				—				—
Other			—				—				—				—				—				—				—
Total:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			39				55				—				45				2				39				1
Mortgage-commercial			4,759				8,955				—				4,795				347				4,747				117
Consumer:
Home equity			168				168				—				169				6				168				2
Other			—				—				—				—				—				—				—
		$	4,966				9,178			$	—			$	5,009			$	355			$	4,954			$	120

(Dollars in thousands)														Nine months ended								Three months ended
						Unpaid								Average				Interest				Average				Interest
		Recorded				Principal				Related				Recorded				income				Recorded				Income
September 30, 2021		Investment				Balance				Allowance				Investment				Recognized				Investment				Recognized
With no allowance recorded:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			207				259				—				196				8				133				3
Mortgage-commercial			1,538				3,869				—				2,239				183				1,772				57
Consumer:
Home equity			20				25				—				21				1				19				—
Other			—				—				—				—				—				—				—
With an allowance recorded:
Commercial, financial, agricultural			—				—				—				—				—				—				—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			—				—				—				—				—				—				—
Mortgage-commercial			67				67				1				104				5				67				1
Consumer:
Home equity			—				—				—				—				—				—				—
Other			—				—				—				—				—				—				—
Total:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			207				259				—				196				8				133				3
Mortgage-commercial			1,605				3,936				1				2,343				188				1,839				58
Consumer:
Home equity			20				25				—				21				1				19				—
Other			—				—				—				—				—				—				—
		$	1,832				4,220			$	1			$	2,560			$	197			$	1,991			$	61

						Unpaid								Average				Interest
(Dollars in thousands)		Recorded				Principal				Related				Recorded				Income
December 31, 2021		Investment				Balance				Allowance				Investment				Recognized
With no allowance recorded:
Commercial		$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			133				151				—				131				6
Mortgage-commercial			1,521				3,514				—				1,748				223
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
With an allowance recorded:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			—				—				—				—				—
Mortgage-commercial			40				40				1				39				5
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
Total:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			133				151				—				131				6
Mortgage-commercial			1,561				3,554				1				1,787				228
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
		$	1,694			$	3,705			$	1			$	1,918			$	234

[custom:DisclosureLoansDetails3Abstract]

														Nine months ended								Three months ended
						Unpaid								Average				Interest				Average				Interest
(Dollars in thousands)		Recorded				Principal				Related				Recorded				Income				Recorded				Income
September 30, 2022		Investment				Balance				Allowance				Investment				Recognized				Investment				Recognized
With no allowance recorded:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			39				55				—				45				2				39				1
Mortgage-commercial			4,759				8,955				—				4,795				347				4,747				117
Consumer:
Home equity			168				168				—				169				6				168				2
Other			—				—				—				—				—				—				—
With an allowance recorded:
Commercial, financial, agricultural			—				—				—				—				—				—				—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			—				—				—				—				—				—				—
Mortgage-commercial			—				—				—				—				—				—				—
Consumer:
Home equity			—				—				—				—				—				—				—
Other			—				—				—				—				—				—				—
Total:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			39				55				—				45				2				39				1
Mortgage-commercial			4,759				8,955				—				4,795				347				4,747				117
Consumer:
Home equity			168				168				—				169				6				168				2
Other			—				—				—				—				—				—				—
		$	4,966				9,178			$	—			$	5,009			$	355			$	4,954			$	120

(Dollars in thousands)														Nine months ended								Three months ended
						Unpaid								Average				Interest				Average				Interest
		Recorded				Principal				Related				Recorded				income				Recorded				Income
September 30, 2021		Investment				Balance				Allowance				Investment				Recognized				Investment				Recognized
With no allowance recorded:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			207				259				—				196				8				133				3
Mortgage-commercial			1,538				3,869				—				2,239				183				1,772				57
Consumer:
Home equity			20				25				—				21				1				19				—
Other			—				—				—				—				—				—				—
With an allowance recorded:
Commercial, financial, agricultural			—				—				—				—				—				—				—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			—				—				—				—				—				—				—
Mortgage-commercial			67				67				1				104				5				67				1
Consumer:
Home equity			—				—				—				—				—				—				—
Other			—				—				—				—				—				—				—
Total:
Commercial, financial, agricultural		$	—			$	—			$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—				—				—
Mortgage-residential			207				259				—				196				8				133				3
Mortgage-commercial			1,605				3,936				1				2,343				188				1,839				58
Consumer:
Home equity			20				25				—				21				1				19				—
Other			—				—				—				—				—				—				—
		$	1,832				4,220			$	1			$	2,560			$	197			$	1,991			$	61

						Unpaid								Average				Interest
(Dollars in thousands)		Recorded				Principal				Related				Recorded				Income
December 31, 2021		Investment				Balance				Allowance				Investment				Recognized
With no allowance recorded:
Commercial		$	—			$	—			$	—			$	—			$	—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			133				151				—				131				6
Mortgage-commercial			1,521				3,514				—				1,748				223
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
With an allowance recorded:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			—				—				—				—				—
Mortgage-commercial			40				40				1				39				5
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
Total:
Commercial			—				—				—				—				—
Real estate:
Construction			—				—				—				—				—
Mortgage-residential			133				151				—				131				6
Mortgage-commercial			1,561				3,554				1				1,787				228
Consumer:
Home Equity			—				—				—				—				—
Other			—				—				—				—				—
		$	1,694			$	3,705			$	1			$	1,918			$	234

Schedule of loan category and loan by risk categories

Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered as pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans is shown in the table below as of September 30, 2022 and December 31, 2021. As of September 30, 2022 and December 31, 2021, no loans were classified as doubtful.

Schedule of loan category and loan by risk categories

Loans (Details 4)

(Dollars in thousands)
September 30, 2022		Pass				Special Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	70,663			$	49			$	—			$	—			$	70,712
Real estate:
Construction			84,355				—				—				—				84,355
Mortgage – residential			53,282				230				41				—				53,553
Mortgage – commercial			693,189				83				5,144				—				698,416
Consumer:
Home Equity			27,470				140				1,190				—				28,800
Other			14,116				94				164				—				14,374
Total		$	943,075			$	596			$	6,539			$	—			$	950,210
(Dollars in thousands)
December 31, 2021		Pass				Special Mention				Substandard				Doubtful				Total
Commercial, financial & agricultural		$	69,833			$	119			$	—			$	—			$	69,952
Real estate:			—				—				—
Construction			94,966				—				3				—				94,969
Mortgage – residential			45,049				305				144				—				45,498
Mortgage – commercial			610,001				1,009				6,454				—				617,464
Consumer:			—				—				—
Home Equity			25,751				171				1,194				—				27,116
Other			8,604				22				77				—				8,703
Total		$	854,204			$	1,626			$	7,872			$	—			$	863,702

Schedule of loan category and present loans past due and on non-accrual status

Schedule of loan category and present loans past due and on non-accrual status

Loans (Details 5)

										Greater than
(Dollars in thousands)		30-59 Days				60-89 Days				90 Days and								Total
September 30, 2022		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	71			$	10			$	—			$	4,668			$	4,749			$	65,963			$	70,712
Real estate:
Construction			—				—				—				—				—				84,355				84,355
Mortgage-residential			—				113				30				39				182				53,371				53,553
Mortgage-commercial			—				—				—				—				—				698,416				698,416
Consumer:
Home equity			42				149				—				168				359				28,441				28,800
Other			—				1				—				—				1				14,373				14,374
Total		$	113			$	273			$	30			$	4,875			$	5,291			$	944,919			$	950,210
										Greater than
(Dollars in thousands)		30-59 Days				60-89 Days				90 Days and								Total
December 31, 2021		Past Due				Past Due				Accruing				Nonaccrual				Past Due				Current				Total Loans
Commercial		$	125			$	35			$	—			$	118			$	278			$	69,674			$	69,952
Real estate:
Construction			—				—				—				—				—				94,969				94,969
Mortgage-residential			8				4				—				132				144				45,354				45,498
Mortgage-commercial			—				—				—				—				—				617,464				617,464
Consumer:
Home equity			—				62				—				—				62				27,054				27,116
Other			—				1				—				—				1				8,702				8,703
Total		$	133			$	102			$	—			$	250			$	485			$	863,217			$	863,702

Schedule for changes in the accretable yield for PCI loans

A summary of changes in the accretable yield for purchased credit-impaired loans for the three months ended September 30, 2022 and September 30, 2021 are as follows:

Schedule for changes in the accretable yield for PCI loans 

Loans (Details 6)

(Dollars in thousands)		Three Months Ended September 30, 2022				Three Months Ended September 30, 2021
Accretable yield, beginning of period		$	49			$	79
Accretion			(7	)			(8	)
Accretable yield, end of period		$	42			$	71
(Dollars in thousands)		Nine Months Ended September 30, 2022				Nine Months Ended September 30, 2021
Accretable yield, beginning of period		$	64			$	93
Accretion			(22	)			(22	)
Accretable yield, end of period		$	42			$	71

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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://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI https://asc.fasb.org/extlink&oid=123577603&loc=d3e5212-111524

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
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