XML 33 R24.htm IDEA: XBRL DOCUMENT v3.23.3

Loans (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule of Loan Portfolio

Schedule of Loan Portfolio

		September 30,				December 31,
(Dollars in thousands)		2023				2022
Commercial		$	78,252			$	72,409
Real estate:
Construction			115,589				91,223
Mortgage-residential			86,240				65,759
Mortgage-commercial			763,538				709,218
Consumer:
Home equity			32,500				28,723
Other			15,526				13,525
Total loans, net of deferred loan fees and costs		$	1,091,645			$	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 September 30, 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
Pass		$	1,366			$	1,513			$	23,836			$	11,137			$	9,514			$	9,549			$	21,237			$	—			$	78,152
Special mention			—				—				—				—				—				21				—				—				21
Substandard			—				—				79				—				—				—				—				—				79
Total commercial			1,366				1,513				23,915				11,137				9,514				9,570				21,237				—				78,252
Current period gross write-offs			—				20				—				—				—				—				—				—				20
Real estate construction
Pass			6,878				1,107				10,413				47,103				30,689				—				19,399				—				115,589
Total real estate construction			6,878				1,107				10,413				47,103				30,689				—				19,399				—				115,589
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate mortgage-residential
Pass			1,952				10,603				6,625				29,772				25,146				8,790				795				2,139				85,822
Special mention			—				26				—				—				—				392				—				—				418
Substandard			—				—				—				—				—				—				—				—				—
Total real estate mortgage-residential			1,952				10,629				6,625				29,772				25,146				9,182				795				2,139				86,240
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate mortgage-commercial
Pass			49,001				100,621				136,127				193,044				72,201				199,064				13,028				329				763,416
Special mention			—				—				—				—				—				21				—				—				21
Substandard			—				—				—				—				—				101				—				—				101
Total real estate mortgage-commercial			49,001				100,621				136,127				193,044				72,201				199,186				13,028				329				763,538
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Consumer - home equity
Pass			—				—				—				—				—				—				31,371				—				31,371
Special mention			—				—				—				—				—				—				70				—				70
Substandard			—				—				—				—				—				—				1,059				—				1,059
Total consumer - home equity			—				—				—				—				—				—				32,500				—				32,500
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Consumer - other
Pass			435				267				542				1,257				1,779				907				10,322				—				15,509
Special mention			—				10				—				—				—				7				—				—				17
Substandard			—				—				—				—				—				—				—				—				—
Total consumer - other			435				277				542				1,257				1,779				914				10,322				—				15,526
Current period gross write-offs			—				—				—				—				—				—				50				—				50

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)						Special
December 31, 2022		Pass				Mention				Substandard				Doubtful				Total
Commercial		$	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 and Recorded Investment in Loans Receivable

The detailed activity in the allowance for credit losses and the recorded investment in loans receivable for the three and nine months ended September 30, 2023 under CECL methodology:

Schedule of Allowance for Credit Losses and Recorded Investment in Loans Receivable

($ in thousands)		Commercial				Real Estate Construction				Real Estate Mortgage Residential				Real Estate Mortgage Commercial				Consumer Home Equity				Consumer Other				Total Loans
Balance at June 30, 2023		$	1,012			$	1,127			$	861			$	7,886			$	438			$	230			$	11,554
Charge-offs			(20	)			—				—				—				—				(14	)			(34	)
Recoveries			1				1				1				15				13				7				38
Provision for credit losses			(6	)			222				122				(82	)			(12	)			16				260
Balance at September 30, 2023		$	987			$	1,350			$	984			$	7,819			$	439			$	239			$	11,818

($ 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			(20	)			—				—				—				—				(50	)			—				(70	)
Recoveries			4				2				4				33				19				13				—				75
Provision for credit losses			(39	)			198				225				100				(60	)			67				—				491
Balance at September 30, 2023		$	987			$	1,350			$	984			$	7,819			$	439			$	239				—			$	11,818

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 in the prior periods.

(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

Schedule of Average Recorded Investment and Interest Income Recognized

The following table presents information related to the average recorded investment and interest income recognized on impaired loans, excluding PCI loans, for the three and nine months ended September 30, 2022.

Schedule of Average Recorded Investment and Interest Income Recognized

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

The following table presents loans individually evaluated for impairment by class of loans, excluding PCI loans, as of December 31, 2022.

						Unpaid
(Dollars in thousands)		Recorded				Principal				Related
December 31, 2022		Investment				Balance				Allowance
With no allowance recorded:
Commercial		$	29			$	29			$	—
Real estate:
Construction			—				—				—
Mortgage-residential			34				51				—
Mortgage-commercial			4,752				5,260				—
Consumer:
Home Equity			168				168				—
Other			—				—				—
With an allowance recorded:
Commercial			—				—				—
Real estate:
Construction			—				—				—
Mortgage-residential			—				—				—
Mortgage-commercial			—				—				—
Consumer:
Home Equity			—				—				—
Other			—				—				—
Total:
Commercial			29				29				—
Real estate:
Construction			—				—				—
Mortgage-residential			34				51				—
Mortgage-commercial			4,752				5,260				—
Consumer:
Home Equity			168				168				—
Other			—				—				—
		$	4,983			$	5,508			$	—

Schedule of Amortized Cost of Loans, by Loan Category, Modified for Borrowers with Financial Difficulty

Schedule of Loan Category and Aging Analysis of Loans

The following tables present an aging analysis of past due loans segregated by loan category as of September 30, 2023 and December 31, 2022.  

Schedule of Loan Category and Aging Analysis of Loans

										Greater than
(Dollars in thousands)		30-59 Days				60-89 Days				90 Days and								Total
September 30, 2023		Past Due				Past Due				Accruing				Non-accrual				Past Due				Current				Total Loans
Commercial		$	69			$	—			$	—			$	24			$	93			$	78,159			$	78,252
Real estate:
Construction			—				—				—				—				—				115,589				115,589
Mortgage-residential			56				215				—				34				305				85,935				86,240
Mortgage-commercial			—				180				—				—				180				763,358				763,538
Consumer:
Home equity			81				2				—				3				86				32,414				32,500
Other			11				—				3				—				14				15,512				15,526
Total		$	217			$	397			$	3			$	61			$	678			$	1,090,967			$	1,091,645
										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

		CECL												Incurred Loss
		September 30, 2023												December 31, 2022
(Dollars in thousands)		Non-accrual Loans with No Allowance				Non-accrual Loans with an Allowance				Total Non-accrual Loans				Non-accrual Loans
Commercial		$	24			$	—			$	24			$	29
Real Estate Construction			—				—				—				—
Real Estate Mortgage Residential			34				—				34				34
Real Estate Mortgage Commercial			—				—				—				4,664
Consumer Home Equity			3				—				3				168
Consumer Other			—				—				—				—
Total Loans		$	61			$	—			$	61			$	4,895

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: 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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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://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

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-29

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-15

+ Details

Name:	us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Disclosure of information about loans and leases receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481990/310-10-45-2

+ Details

Name:	us-gaap_LoansAndLeasesReceivableDisclosureTable
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of aging analysis for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-14

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 55
-Paragraph 80
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479294/326-20-55-80

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-7

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-7A

+ Details

Name:	us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1

+ Details

Name:	us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 16
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-16

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-7

+ Details

Name:	us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration