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v3.23.1

Loans (Tables) | 3 Months Ended
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Mar. 31, 2023
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 $2.0 million and $1.9 million as of March 31, 2023 and December 31, 2022, respectively. Schedule of Loan Portfolio
Loans |
|  | March 31, |  |  | December 31, |
(Dollars in thousands) |  | 2023 |  |  | 2022 |
Commercial, financial and agricultural |  | $ | 73,898 |  |  | $ | 72,409 |
Real estate: |  |  |  |  |  |  |  |
Construction |  |  | 84,442 |  |  |  | 91,223 |
Mortgage-residential |  |  | 68,983 |  |  |  | 65,759 |
Mortgage-commercial |  |  | 722,603 |  |  |  | 709,218 |
Consumer: |  |  |  |  |  |  |  |
Home equity |  |  | 29,524 |  |  |  | 28,723 |
Other |  |  | 13,270 |  |  |  | 13,525 |
Total loans, net of deferred loan fees and costs |  | $ | 992,720 |  |  | $ | 980,857 |
Schedule of loan category and loan by risk categories | The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of March 31, 2023: Schedule of loan category and loan by risk categories
|  | Term Loans by year of Origination |
($ in thousands) |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | Prior |  |  | Revolving |  |  | Revolving Converted to Term |  |  | Total |
Commercial, Financial & Agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,954 |  |  | $ | 1,893 |  |  |  | 26,328 |  |  |  | 12,852 |  |  |  | 2,334 |  |  |  | 10,505 |  |  |  | 17,900 |  |  |  | — |  |  |  | 73,766 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 62 |  |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 87 |
Substandard |  |  | — |  |  |  | 20 |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 45 |
Total Commercial, Financial & Agriculture |  |  | 1,954 |  |  |  | 1,913 |  |  |  | 26,415 |  |  |  | 12,852 |  |  |  | 2,334 |  |  |  | 10,530 |  |  |  | 17,900 |  |  |  | — |  |  |  | 73,898 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 8,543 |  |  |  | 12,629 |  |  |  | 17,328 |  |  |  | 32,263 |  |  |  | 4,896 |  |  |  | 212 |  |  |  | 8,571 |  |  |  | — |  |  |  | 84,442 |
Total Real estate Construction |  |  | 8,543 |  |  |  | 12,629 |  |  |  | 17,328 |  |  |  | 32,263 |  |  |  | 4,896 |  |  |  | 212 |  |  |  | 8,571 |  |  |  | — |  |  |  | 84,442 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate Mortgage-residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 2,670 |  |  |  | 11,323 |  |  |  | 7,023 |  |  |  | 31,311 |  |  |  | 5,965 |  |  |  | 9,366 |  |  |  | 365 |  |  |  | 497 |  |  |  | 68,520 |
Special Mention |  |  | — |  |  |  | 28 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 403 |  |  |  | — |  |  |  | — |  |  |  | 431 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | 32 |
Total Real estate Mortgage-residential |  |  | 2,670 |  |  |  | 11,351 |  |  |  | 7,023 |  |  |  | 31,311 |  |  |  | 5,965 |  |  |  | 9,801 |  |  |  | 365 |  |  |  | 497 |  |  |  | 68,983 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate Mortgage-commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 49,718 |  |  |  | 93,745 |  |  |  | 136,731 |  |  |  | 194,651 |  |  |  | 13,548 |  |  |  | 217,917 |  |  |  | 12,117 |  |  |  | — |  |  |  | 718,427 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 23 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,153 |  |  |  | — |  |  |  | — |  |  |  | 4,153 |
Total Real estate Mortgage-commercial |  |  | 49,718 |  |  |  | 93,745 |  |  |  | 136,731 |  |  |  | 194,651 |  |  |  | 13,548 |  |  |  | 222,093 |  |  |  | 12,117 |  |  |  | — |  |  |  | 722,603 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer - Home Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28,364 |  |  |  | — |  |  |  | 28,364 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 88 |  |  |  | — |  |  |  | 88 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,072 |  |  |  | — |  |  |  | 1,072 |
Total Consumer - Home Equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 29,524 |  |  |  | — |  |  |  | 29,524 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer - Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 484 |  |  |  | 726 |  |  |  | 892 |  |  |  | 3,154 |  |  |  | 669 |  |  |  | 965 |  |  |  | 6,362 |  |  |  | — |  |  |  | 13,252 |
Special Mention |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 18 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Consumer - Other |  |  | 484 |  |  |  | 736 |  |  |  | 892 |  |  |  | 3,154 |  |  |  | 669 |  |  |  | 973 |  |  |  | 6,362 |  |  |  | — |  |  |  | 13,270 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 2 |
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 December 31, 2022. As of December 31, 2022, no loans were classified as doubtful.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2022 |  | Pass |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
Commercial, financial & agricultural |  | $ | 72,333 |  |  | $ | 47 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 72,409 |
Real estate: |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Construction |  |  | 91,223 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 91,223 |
Mortgage – residential |  |  | 65,505 |  |  |  | 220 |  |  |  | 34 |  |  |  | — |  |  |  | 65,759 |
Mortgage – commercial |  |  | 704,357 |  |  |  | 80 |  |  |  | 4,781 |  |  |  | — |  |  |  | 709,218 |
Consumer: |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Home Equity |  |  | 27,531 |  |  |  | 117 |  |  |  | 1,075 |  |  |  | — |  |  |  | 28,723 |
Other |  |  | 13,269 |  |  |  | 93 |  |  |  | 163 |  |  |  | — |  |  |  | 13,525 |
Total |  | $ | 974,218 |  |  | $ | 557 |  |  | $ | 6,082 |  |  | $ | — |  |  | $ | 980,857 |
[custom:DisclosureLoansDetails2Abstract] |
|  | Term Loans by year of Origination |
($ in thousands) |  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |  |  | 2023 |  |  | Prior |  |  | Revolving |  |  | Revolving Converted to Term |  |  | Total |
Commercial, Financial & Agriculture |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,954 |  |  | $ | 1,893 |  |  |  | 26,328 |  |  |  | 12,852 |  |  |  | 2,334 |  |  |  | 10,505 |  |  |  | 17,900 |  |  |  | — |  |  |  | 73,766 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 62 |  |  |  | — |  |  |  | — |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | 87 |
Substandard |  |  | — |  |  |  | 20 |  |  |  | 25 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 45 |
Total Commercial, Financial & Agriculture |  |  | 1,954 |  |  |  | 1,913 |  |  |  | 26,415 |  |  |  | 12,852 |  |  |  | 2,334 |  |  |  | 10,530 |  |  |  | 17,900 |  |  |  | — |  |  |  | 73,898 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 8,543 |  |  |  | 12,629 |  |  |  | 17,328 |  |  |  | 32,263 |  |  |  | 4,896 |  |  |  | 212 |  |  |  | 8,571 |  |  |  | — |  |  |  | 84,442 |
Total Real estate Construction |  |  | 8,543 |  |  |  | 12,629 |  |  |  | 17,328 |  |  |  | 32,263 |  |  |  | 4,896 |  |  |  | 212 |  |  |  | 8,571 |  |  |  | — |  |  |  | 84,442 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate Mortgage-residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 2,670 |  |  |  | 11,323 |  |  |  | 7,023 |  |  |  | 31,311 |  |  |  | 5,965 |  |  |  | 9,366 |  |  |  | 365 |  |  |  | 497 |  |  |  | 68,520 |
Special Mention |  |  | — |  |  |  | 28 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 403 |  |  |  | — |  |  |  | — |  |  |  | 431 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32 |  |  |  | — |  |  |  | — |  |  |  | 32 |
Total Real estate Mortgage-residential |  |  | 2,670 |  |  |  | 11,351 |  |  |  | 7,023 |  |  |  | 31,311 |  |  |  | 5,965 |  |  |  | 9,801 |  |  |  | 365 |  |  |  | 497 |  |  |  | 68,983 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real estate Mortgage-commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 49,718 |  |  |  | 93,745 |  |  |  | 136,731 |  |  |  | 194,651 |  |  |  | 13,548 |  |  |  | 217,917 |  |  |  | 12,117 |  |  |  | — |  |  |  | 718,427 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | — |  |  |  | 23 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4,153 |  |  |  | — |  |  |  | — |  |  |  | 4,153 |
Total Real estate Mortgage-commercial |  |  | 49,718 |  |  |  | 93,745 |  |  |  | 136,731 |  |  |  | 194,651 |  |  |  | 13,548 |  |  |  | 222,093 |  |  |  | 12,117 |  |  |  | — |  |  |  | 722,603 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer - Home Equity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 28,364 |  |  |  | — |  |  |  | 28,364 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 88 |  |  |  | — |  |  |  | 88 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 1,072 |  |  |  | — |  |  |  | 1,072 |
Total Consumer - Home Equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 29,524 |  |  |  | — |  |  |  | 29,524 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Consumer - Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  |  | 484 |  |  |  | 726 |  |  |  | 892 |  |  |  | 3,154 |  |  |  | 669 |  |  |  | 965 |  |  |  | 6,362 |  |  |  | — |  |  |  | 13,252 |
Special Mention |  |  | — |  |  |  | 10 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8 |  |  |  | — |  |  |  | — |  |  |  | 18 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Consumer - Other |  |  | 484 |  |  |  | 736 |  |  |  | 892 |  |  |  | 3,154 |  |  |  | 669 |  |  |  | 973 |  |  |  | 6,362 |  |  |  | — |  |  |  | 13,270 |
Current period gross write-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 2 |
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 December 31, 2022. As of December 31, 2022, no loans were classified as doubtful.
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2022 |  | Pass |  |  | Special Mention |  |  | Substandard |  |  | Doubtful |  |  | Total |
Commercial, financial & agricultural |  | $ | 72,333 |  |  | $ | 47 |  |  | $ | 29 |  |  | $ | — |  |  | $ | 72,409 |
Real estate: |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Construction |  |  | 91,223 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 91,223 |
Mortgage – residential |  |  | 65,505 |  |  |  | 220 |  |  |  | 34 |  |  |  | — |  |  |  | 65,759 |
Mortgage – commercial |  |  | 704,357 |  |  |  | 80 |  |  |  | 4,781 |  |  |  | — |  |  |  | 709,218 |
Consumer: |  |  | — |  |  |  | — |  |  |  | — |  |  |  |  |  |  |  |  |
Home Equity |  |  | 27,531 |  |  |  | 117 |  |  |  | 1,075 |  |  |  | — |  |  |  | 28,723 |
Other |  |  | 13,269 |  |  |  | 93 |  |  |  | 163 |  |  |  | — |  |  |  | 13,525 |
Total |  | $ | 974,218 |  |  | $ | 557 |  |  | $ | 6,082 |  |  | $ | — |  |  | $ | 980,857 |
Schedule of Allowance for Credit Losses | The detailed activity in the allowance for loan losses and the recorded investment in loans receivable as of and for the three months ended March 31, 2023 under CECL methodology: Schedule of Allowance for Credit Losses
($ in thousands) |  | Commercial |  |  | Real Estate Construction |  |  | Real Estate Mortgage Residential |  |  | Real Estate Mortgage Commercial |  |  | Consumer Home Equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total Loans |
Balance at December 31, 2022 |  | $ | 849 |  |  | $ | 75 |  |  | $ | 723 |  |  | $ | 8,569 |  |  | $ | 314 |  |  | $ | 170 |  |  | $ | 636 |  |  | $ | 11,336 |
Adjustment to allowance for adoption of ASU 2016-13 |  |  | 193 |  |  |  | 1,075 |  |  |  | 32 |  |  |  | (883 | ) |  |  | 166 |  |  |  | 39 |  |  |  | (636 | ) |  |  | (14 | )
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | — |  |  |  | (9 | )
Recoveries |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | 3 |  |  |  | 4 |  |  |  | — |  |  |  | 20 |
Provision for credit losses |  |  | (48 | ) |  |  | (70 | ) |  |  | 35 |  |  |  | 230 |  |  |  | (59 | ) |  |  | (1 | ) |  |  | — |  |  |  | 87 |
Balance at March 31, 2023 |  | $ | 996 |  |  | $ | 1,080 |  |  | $ | 790 |  |  | $ | 7,927 |  |  | $ | 424 |  |  | $ | 203 |  |  |  | — |  |  | $ | 11,420 |
Prior to the adoption of ASC 326 on January 1, 2023, the Company calculated the allowance for loan losses under the incurred loss methodology. The following tables are disclosures related to the allowance for the three months ended March 31, 2022.
|  |  |  |  |  |  |  | Real estate |  |  | Real estate |  |  | Consumer |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Real estate |  |  | Mortgage |  |  | Mortgage |  |  | Home |  |  | Consumer |  |  |  |  |  |  |
(Dollars in thousands) |  | Commercial |  |  | Construction |  |  | Residential |  |  | Commercial |  |  | equity |  |  | Other |  |  | Unallocated |  |  | Total |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance December 31, 2021 |  | $ | 853 |  |  | $ | 113 |  |  | $ | 560 |  |  | $ | 8,570 |  |  | $ | 333 |  |  | $ | 126 |  |  | $ | 624 |  |  | $ | 11,179 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | (14 | )
Recoveries |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | 3 |  |  |  | 3 |  |  |  | — |  |  |  | 23 |
Provisions |  |  | (15 | ) |  |  | (22 | ) |  |  | (47 | ) |  |  | (68 | ) |  |  | (5 | ) |  |  | 35 |  |  |  | (3 | ) |  |  | (125 | )
Ending balance March 31, 2022 |  | $ | 849 |  |  | $ | 91 |  |  | $ | 513 |  |  | $ | 8,508 |  |  | $ | 331 |  |  | $ | 150 |  |  | $ | 621 |  |  | $ | 11,063 |
(Dollars in thousands) |  | Commercial |  |  | Real estate Construction |  |  | Real estate Mortgage Residential |  |  | Real estate Mortgage Commercial |  |  | Consumer Home equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total |
December 31, 2022 Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance—total |  | $ | 72,409 |  |  | $ | 91,223 |  |  | $ | 65,759 |  |  | $ | 709,218 |  |  | $ | 28,723 |  |  | $ | 13,525 |  |  | $ | — |  |  | $ | 980,857 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  |  | 29 |  |  |  | — |  |  |  | 34 |  |  |  | 4,752 |  |  |  | 168 |  |  |  | — |  |  |  | — |  |  |  | 4,983 |
Collectively evaluated for impairment |  |  | 72,380 |  |  |  | 91,223 |  |  |  | 65,725 |  |  |  | 704,466 |  |  |  | 28,555 |  |  |  | 13,525 |  |  |  | — |  |  |  | 975,874 |
[custom:DisclosureLoansDetails3Abstract] |
($ in thousands) |  | Commercial |  |  | Real Estate Construction |  |  | Real Estate Mortgage Residential |  |  | Real Estate Mortgage Commercial |  |  | Consumer Home Equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total Loans |
Balance at December 31, 2022 |  | $ | 849 |  |  | $ | 75 |  |  | $ | 723 |  |  | $ | 8,569 |  |  | $ | 314 |  |  | $ | 170 |  |  | $ | 636 |  |  | $ | 11,336 |
Adjustment to allowance for adoption of ASU 2016-13 |  |  | 193 |  |  |  | 1,075 |  |  |  | 32 |  |  |  | (883 | ) |  |  | 166 |  |  |  | 39 |  |  |  | (636 | ) |  |  | (14 | )
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (9 | ) |  |  | — |  |  |  | (9 | )
Recoveries |  |  | 2 |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | 3 |  |  |  | 4 |  |  |  | — |  |  |  | 20 |
Provision for credit losses |  |  | (48 | ) |  |  | (70 | ) |  |  | 35 |  |  |  | 230 |  |  |  | (59 | ) |  |  | (1 | ) |  |  | — |  |  |  | 87 |
Balance at March 31, 2023 |  | $ | 996 |  |  | $ | 1,080 |  |  | $ | 790 |  |  | $ | 7,927 |  |  | $ | 424 |  |  | $ | 203 |  |  |  | — |  |  | $ | 11,420 |
Prior to the adoption of ASC 326 on January 1, 2023, the Company calculated the allowance for loan losses under the incurred loss methodology. The following tables are disclosures related to the allowance for the three months ended March 31, 2022.
|  |  |  |  |  |  |  | Real estate |  |  | Real estate |  |  | Consumer |  |  |  |  |  |  |  |  |  |
|  |  |  |  | Real estate |  |  | Mortgage |  |  | Mortgage |  |  | Home |  |  | Consumer |  |  |  |  |  |  |
(Dollars in thousands) |  | Commercial |  |  | Construction |  |  | Residential |  |  | Commercial |  |  | equity |  |  | Other |  |  | Unallocated |  |  | Total |
March 31, 2022 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for loan losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance December 31, 2021 |  | $ | 853 |  |  | $ | 113 |  |  | $ | 560 |  |  | $ | 8,570 |  |  | $ | 333 |  |  | $ | 126 |  |  | $ | 624 |  |  | $ | 11,179 |
Charge-offs |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (14 | ) |  |  | — |  |  |  | (14 | )
Recoveries |  |  | 11 |  |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | 3 |  |  |  | 3 |  |  |  | — |  |  |  | 23 |
Provisions |  |  | (15 | ) |  |  | (22 | ) |  |  | (47 | ) |  |  | (68 | ) |  |  | (5 | ) |  |  | 35 |  |  |  | (3 | ) |  |  | (125 | )
Ending balance March 31, 2022 |  | $ | 849 |  |  | $ | 91 |  |  | $ | 513 |  |  | $ | 8,508 |  |  | $ | 331 |  |  | $ | 150 |  |  | $ | 621 |  |  | $ | 11,063 |
(Dollars in thousands) |  | Commercial |  |  | Real estate Construction |  |  | Real estate Mortgage Residential |  |  | Real estate Mortgage Commercial |  |  | Consumer Home equity |  |  | Consumer Other |  |  | Unallocated |  |  | Total |
December 31, 2022 Loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ending balance—total |  | $ | 72,409 |  |  | $ | 91,223 |  |  | $ | 65,759 |  |  | $ | 709,218 |  |  | $ | 28,723 |  |  | $ | 13,525 |  |  | $ | — |  |  | $ | 980,857 |
Ending balances: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  |  | 29 |  |  |  | — |  |  |  | 34 |  |  |  | 4,752 |  |  |  | 168 |  |  |  | — |  |  |  | — |  |  |  | 4,983 |
Collectively evaluated for impairment |  |  | 72,380 |  |  |  | 91,223 |  |  |  | 65,725 |  |  |  | 704,466 |  |  |  | 28,555 |  |  |  | 13,525 |  |  |  | — |  |  |  | 975,874 |
The following table presents information related to the average recorded investment and interest income recognized on impaired loans, excluding PCI loans, for the three months ended March 31, 2022. | The following table presents information related to the average recorded investment and interest income recognized on impaired loans, excluding PCI loans, for the three months ended March 31, 2022.
Loans (Details 4) |
|  | Three months ended |
|  | Average |  |  | Interest |
(Dollars in thousands) |  | Recorded |  |  | Income |
March 31, 2022 |  | Investment |  |  | Recognized |
With no allowance recorded: |  |  |  |  |  |  |  |
Commercial |  | $ | — |  |  | $ | — |
Real estate: |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 42 |  |  |  | 1 |
Mortgage-commercial |  |  | 1,737 |  |  |  | 46 |
Consumer: |  |  |  |  |  |  |  |
Home Equity |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |
With an allowance recorded: |  |  |  |  |  |  |  |
Commercial |  |  | — |  |  |  | — |
Real estate: |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |
Mortgage-residential |  |  | — |  |  |  | — |
Mortgage-commercial |  |  | — |  |  |  | — |
Consumer: |  |  |  |  |  |  |  |
Home Equity |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |
Total: |  |  |  |  |  |  |  |
Commercial |  |  | — |  |  |  | — |
Real estate: |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |
Mortgage-residential |  |  | 42 |  |  |  | 1 |
Mortgage-commercial |  |  | 1,737 |  |  |  | 46 |
Consumer: |  |  |  |  |  |  |  |
Home Equity |  |  | — |  |  |  | — |
Other |  |  | — |  |  |  | — |
|  | $ | 1,779 |  |  | $ | 47 |
Schedule of Loan Category and Aging Analysis of Loans | The following tables are by loan category and present loans past due and on non-accrual status as of March 31, 2023 and December 31, 2022: Schedule of Loan Category and Aging Analysis of Loans
Loans (Details 5) |
|  |  |  |  |  |  |  | Greater than |  |  |  |  |  |  |  |  |  |  |  |  |
(Dollars in thousands) |  | 30-59 Days |  |  | 60-89 Days |  |  | 90 Days and |  |  |  |  |  | Total |  |  |  |  |  |  |
March 31, 2023 |  | Past Due |  |  | Past Due |  |  | Accruing |  |  | Non-accrual |  |  | Past Due |  |  | Current |  |  | Total Loans |
Commercial |  | $ | 11 |  |  | $ | — |  |  | $ | — |  |  | $ | 45 |  |  | $ | 56 |  |  | $ | 73,842 |  |  | $ | 73,898 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 84,442 |  |  |  | 84,442 |
Mortgage-residential |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 32 |  |  |  | 32 |  |  |  | 68,951 |  |  |  | 68,983 |
Mortgage-commercial |  |  | 63 |  |  |  | — |  |  |  | — |  |  |  | 4,044 |  |  |  | 4,107 |  |  |  | 718,496 |  |  |  | 722,603 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 4 |  |  |  | 4 |  |  |  | 29,520 |  |  |  | 29,524 |
Other |  |  | 9 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 9 |  |  |  | 13,261 |  |  |  | 13,270 |
Total |  | $ | 83 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,125 |  |  | $ | 4,208 |  |  | $ | 988,512 |  |  | $ | 992,720 |
|  |  |  |  |  |  |  | Greater than |  |  |  |  |  |  |  |  |  |  |  |  |
(Dollars in thousands) |  | 30-59 Days |  |  | 60-89 Days |  |  | 90 Days and |  |  |  |  |  | Total |  |  |  |  |  |  |
December 31, 2022 |  | Past Due |  |  | Past Due |  |  | Accruing |  |  | Non-accrual |  |  | Past Due |  |  | Current |  |  | Total Loans |
Commercial |  | $ | 87 |  |  | $ | — |  |  | $ | — |  |  | $ | 29 |  |  | $ | 116 |  |  | $ | 72,293 |  |  | $ | 72,409 |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 91,223 |  |  |  | 91,223 |
Mortgage-residential |  |  | 327 |  |  |  | — |  |  |  | — |  |  |  | 34 |  |  |  | 361 |  |  |  | 65,398 |  |  |  | 65,759 |
Mortgage-commercial |  |  | 46 |  |  |  | 8 |  |  |  | — |  |  |  | 4,664 |  |  |  | 4,718 |  |  |  | 704,500 |  |  |  | 709,218 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 168 |  |  |  | 168 |  |  |  | 28,555 |  |  |  | 28,723 |
Other |  |  | 96 |  |  |  | — |  |  |  | 2 |  |  |  | — |  |  |  | 98 |  |  |  | 13,427 |  |  |  | 13,525 |
Total |  | $ | 556 |  |  | $ | 8 |  |  | $ | 2 |  |  | $ | 4,895 |  |  | $ | 5,461 |  |  | $ | 975,396 |  |  | $ | 980,857 |
Schedule of Nonaccrual Loans | The following table is a summary of the Company’s non-accrual loans by major categories for the periods indicated: Schedule of Nonaccrual Loans
Loans (Details 6) |
|  | CECL |  |  | Incurred Loss |
|  | March 31, 2023 |  |  | December 31, 2022 |
($ in thousands) |  | Non-accrual Loans with No Allowance |  |  | Non-accrual Loans with an Allowance |  |  | Total Non-accrual Loans |  |  | Non-accrual Loans |
Commercial, Financial & Agriculture |  | $ | — |  |  |  | 45 |  |  |  | 45 |  |  |  | 29 |
Real Estate Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Real Estate Mortgage Residential |  |  | — |  |  |  | 32 |  |  |  | 32 |  |  |  | 34 |
Real Estate Mortgage Commercial |  |  | 3,882 |  |  |  | 162 |  |  |  | 4,044 |  |  |  | 4,664 |
Consumer Home Equity |  |  | — |  |  |  | 4 |  |  |  | 4 |  |  |  | 168 |
Consumer Other |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total Loans |  | $ | 3,882 |  |  | $ | 243 |  |  | $ | 4,125 |  |  | $ | 4,895 |
Schedule of Amortized Cost of Collateral Dependent Loans | The following table details the amortized cost of collateral dependent loans: Schedule of Amortized Cost of Collateral Dependent Loans
Loans (Details 7) |
($ in thousands) |  | For the Three Months Ended March 31, 2023 |
Commercial |  | $ | 45 |
Real Estate: |  |  |  |
Mortgage - Residential |  |  | 32 |
Mortgage - Commercial |  |  | 4,044 |
Consumer: |  |  |  |
Home Equity |  |  | 4 |
Total Loans |  | $ | 4,125 |
Schedule of Unfunded Commitments | The following table presents the balance and activity in the allowance for credit losses for unfunded loan commitments for the three months ended March 31, 2023 Schedule of Unfunded Commitments
Loans (Details 8) |
($ in thousands) |  | Total Allowance for Credit Losses - Unfunded Commitments |
Balance, December 31, 2022 |  |  | — |
Adjustment to allowance for unfunded commitments for adoption of ASU 2016-13 |  |  | 398 |
Provision for (release of) unfunded commitments |  |  | (16 | )
Balance, March 31, 2023 |  | $ | 382 |

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