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Loans (Tables)

9 Months Ended

Sep. 30, 2025

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 $2.2 million and $2.1 million as of September 30, 2025 and December 31, 2024, respectively. 

Schedule of Loan Portfolio

		September 30,				December 31,
(Dollars in thousands)		2025				2024
Commercial		$	90,567			$	86,616
Real estate:
Construction			151,621				152,155
Mortgage-residential			132,376				124,751
Mortgage-commercial			836,400				796,411
Consumer:
Home equity			51,822				42,304
Other			16,524				18,305
Total loans, net of deferred loan fees and costs		$	1,279,310			$	1,220,542

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, 2025:

Schedule of loan category and loan by risk categories

		Term Loans by year of Origination
($ in thousands)		2021				2022				2023				2024				2025				Prior				Revolving				Revolving Converted to Term				Total
Commercial
Pass		$	17,638			$	5,319			$	6,273			$	15,961			$	11,176			$	7,553			$	26,638			$	9			$	90,567
Special mention			—				—				—				—				—				—				—				—				—
Total commercial			17,638				5,319				6,273				15,961				11,176				7,553				26,638				9				90,567
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate construction
Pass			2,229				32,569				33,016				36,384				7,131				5,819				32,975				—				150,123
Special mention			—				—				1,498				—				—				—				—				—				1,498
Total real estate construction			2,229				32,569				34,514				36,384				7,131				5,819				32,975				—				151,621
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate mortgage-residential
Pass			4,767				29,048				47,377				15,153				10,342				15,632				808				8,052				131,179
Special mention			—				835				—				—				—				158				—				—				993
Substandard			—				—				—				—				—				204				—				—				204
Total real estate mortgage-residential			4,767				29,883				47,377				15,153				10,342				15,994				808				8,052				132,376
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate mortgage-commercial
Pass			106,546				175,612				114,490				83,599				110,922				227,685				16,872				338				836,064
Special mention			—				—				—				—				—				275				—				—				275
Substandard			—				—				—				—				—				61				—				—				61
Total real estate mortgage-commercial			106,546				175,612				114,490				83,599				110,922				228,021				16,872				338				836,400
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Consumer - home equity
Pass			—				—				—				—				—				—				50,589				—				50,589
Special mention			—				—				—				—				—				—				180				—				180
Substandard			—				—				—				—				—				—				1,053				—				1,053
Total consumer - home equity			—				—				—				—				—				—				51,822				—				51,822
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Consumer - other
Pass			157				327				854				1,821				2,039				1,103				10,212				—				16,513
Special mention			—				—				10				—				—				—				—				—				10
Substandard			—				—				—				1				—				—				—				—				1
Total consumer - other			157				327				864				1,822				2,039				1,103				10,212				—				16,524
Current period gross write-offs			—				—				2				4				—				—				77				—				83

The following table presents the Company’s recorded investment in loans by credit quality indicators by year of origination as of December 31, 2024:

		Term Loans by year of Origination
($ in thousands)		2020				2021				2022				2023				2024				Prior				Revolving				Revolving Converted to Term				Total
Commercial
Pass		$	605			$	20,288			$	7,084			$	8,336			$	21,808			$	8,100			$	20,359			$	36			$	86,616
Special mention			—				—				—				—				—				—				—				—				—
Substandard			—				—				—				—				—				—				—				—				—
Total commercial			605				20,288				7,084				8,336				21,808				8,100				20,359				36				86,616
Current period gross write-offs			5				77				—				—				—				5				—				—				87
Real estate construction
Pass			—				2,295				44,290				44,022				27,213				6,231				28,104				—				152,155
Total real estate construction			—				2,295				44,290				44,022				27,213				6,231				28,104				—				152,155
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate mortgage-residential
Pass			9,240				5,191				32,422				28,983				14,492				8,012				872				24,775				123,987
Special mention			21				—				358				—				—				167				—				—				546
Substandard			—				—				—				—				—				218				—				—				218
Total real estate mortgage-residential			9,261				5,191				32,780				28,983				14,492				8,397				872				24,775				124,751
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Real estate mortgage-commercial
Pass			79,977				118,415				190,140				115,525				76,754				196,793				17,949				582				796,135
Special mention			—				—				—				—				—				207				—				—				207
Substandard			—				—				—				—				—				69				—				—				69
Total real estate mortgage-commercial			79,977				118,415				190,140				115,525				76,754				197,069				17,949				582				796,411
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Consumer - home equity
Pass			—				—				—				—				—				—				41,081				—				41,081
Special mention			—				—				—				—				—				—				160				—				160
Substandard			—				—				—				—				—				—				1,063				—				1,063
Total consumer - home equity			—				—				—				—				—				—				42,304				—				42,304
Current period gross write-offs			—				—				—				—				—				—				—				—				—
Consumer - other
Pass			22				251				607				1,128				4,359				1,225				10,696				—				18,288
Special mention			—				—				—				14				—				—				—				—				14
Substandard			—				—				—				—				3				—				—				—				3
Total consumer - other			22				251				607				1,142				4,362				1,225				10,696				—				18,305
Current period gross write-offs			—				—				—				—				7				—				88				—				95

Schedule of Allowance for Credit Losses

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, 2025 and September 30, 2024 is shown below:

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				Total Loans
Balance at June 30, 2025		$	1,012			$	1,700			$	1,706			$	7,923			$	645			$	344			$	13,330
Charge-offs			—				—				—				—				—				(51	)			(51	)
Recoveries			1				1				—				8				2				26				38
Provision for (release of) credit losses			44				(97	)			78				170				33				(67	)			161
Balance at September 30, 2025		$	1,057			$	1,604			$	1,784			$	8,101			$	680			$	252			$	13,478
($ in thousands)		Commercial				Real Estate Construction				Real Estate Mortgage Residential				Real Estate Mortgage Commercial				Consumer Home Equity				Consumer Other				Total Loans
Balance at December 31, 2024		$	994			$	1,675			$	1,639			$	7,974			$	568			$	285			$	13,135
Charge-offs			—				—				—				—				—				(83	)			(83	)
Recoveries			9				2				—				15				7				37				70
Provision for (release of) credit losses			54				(73	)			145				112				105				13				356
Balance at September 30, 2025		$	1,057			$	1,604			$	1,784			$	8,101			$	680			$	252			$	13,478
($ 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, 2024		$	1,026			$	1,619			$	1,378			$	8,146			$	504			$	259			$	12,932
Charge-offs			(53	)			—				—				—				—				(29	)			(82	)
Recoveries			3				1				—				2				2				6				14
Provision for (release of) credit losses			35				63				148				(274	)			50				(47	)			69
Balance at September 30, 2024		$	1,011			$	1,683			$	1,526			$	7,874			$	556			$	283			$	12,933
($ in thousands)		Commercial				Real Estate Construction				Real Estate Mortgage Residential				Real Estate Mortgage Commercial				Consumer Home Equity				Consumer Other				Total Loans
Balance at December 31, 2023		$	935			$	1,337			$	1,122			$	8,146			$	472			$	255			$	12,267
Charge-offs			(83	)			—				—				(2	)			—				(64	)			(149	)
Recoveries			5				2				18				10				7				12				54
Provision for (release of) credit losses			154				344				386				(280	)			77				80				761
Balance at September 30, 2024		$	1,011			$	1,683			$	1,526			$	7,874			$	556			$	283			$	12,933

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 are by loan category and present loans past due and on non-accrual status as of September 30, 2025 and December 31, 2024.

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, 2025		Past Due				Past Due				Accruing				Non-accrual				Past Due				Current				Total Loans
Commercial		$	—			$	163			$	—			$	—			$	163			$	90,404			$	90,567
Real estate:
Construction			—				—				—				—				—				151,621				151,621
Mortgage-residential			—				19				482				204				705				131,671				132,376
Mortgage-commercial			—				—				—				—				—				836,400				836,400
Consumer:
Home equity			242				—				—				1				243				51,579				51,822
Other			10				2				—				—				12				16,512				16,524
Total		$	252			$	184			$	482			$	205			$	1,123			$	1,278,187			$	1,279,310
										Greater than
(Dollars in thousands)		30-59 Days				60-89 Days				90 Days and								Total
December 31, 2024		Past Due				Past Due				Accruing				Non-accrual				Past Due				Current				Total Loans
Commercial		$	61			$	—			$	—			$	—			$	61			$	86,555			$	86,616
Real estate:
Construction			—				—				—				—				—				152,155				152,155
Mortgage-residential			14				—				—				217				231				124,520				124,751
Mortgage-commercial			—				87				—				—				87				796,324				796,411
Consumer:
Home equity			—				391				45				2				438				41,866				42,304
Other			1				—				3				—				4				18,301				18,305
Total		$	76			$	478			$	48			$	219			$	821			$	1,219,721			$	1,220,542

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

		September 30, 2025
(Dollars in thousands)		Non-accrual Loans with No Allowance				Non-accrual Loans with an Allowance				Total Non-accrual Loans
Commercial		$	—			$	—			$	—
Real estate:
Construction			—				—				—
Mortgage-residential			—				204				204
Mortgage-commercial			—				—				—
Consumer:
Home equity			—				1				1
Other			—				—				—
Total		$	—			$	205			$	205
		December 31, 2024
(Dollars in thousands)		Non-accrual Loans with No Allowance				Non-accrual Loans with an Allowance				Total Non-accrual Loans
Commercial		$	—			$	—			$	—
Real estate:
Construction			—				—				—
Mortgage-residential			—				217				217
Mortgage-commercial			—				—				—
Consumer:
Home equity			—				2				2
Other			—				—				—
Total		$	—			$	219			$	219

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 and nine months ended September 30, 2025 and September 30, 2024.

Schedule of Unfunded Commitments

(Dollars in thousands)		Total Allowance for Credit Losses - Unfunded Commitments
Balance, June 30, 2025		$	490
Provision for unfunded commitments			39
Balance, September 30, 2025		$	529
(Dollars in thousands)		Total Allowance for Credit Losses - Unfunded Commitments
Balance, December 31, 2024		$	480
Provision for unfunded commitments			49
Balance, September 30, 2025		$	529
(Dollars in thousands)		Total Allowance for Credit Losses - Unfunded Commitments
Balance, June 30, 2024		$	490
Release of allowance for unfunded commitments			(81	)
Balance, September 30, 2024		$	409
(Dollars in thousands)		Total Allowance for Credit Losses - Unfunded Commitments
Balance, December 31, 2023		$	597
Release of allowance for unfunded commitments			(188	)
Balance, September 30, 2024		$	409

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