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Loan Quality And Allowance For Credit Losses | 9 Months Ended
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Sep. 30, 2024
Loan Quality And Allowance For Credit Losses [Abstract] |
Loan Quality And Allowance For Credit Losses | Note 6. Loan Quality and Allowance for Credit Losses The Bank categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. Management utilizes a risk rating scale ranging from 1-Prime to 9-Loss to evaluate loan quality. This risk rating scale is used primarily for commercial purpose loans. Consumer purpose loans are identified as either performing or nonperforming based on the payment status of the loans. Nonperforming consumer loans are loans that are nonaccrual or 90 days or more past due and still accruing. The Bank uses the following definitions for risk ratings: Pass (1-5): are considered pass credits with lower or average risk and are not otherwise classified. Other Assets Especially Mentioned (OAEM) (6): Loans classified as OAEM have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the borrower’s credit position at some future date. ‎ Substandard (7): Loans classified as Substandard are inadequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful (8): Loans classified as Doubtful have all the weaknesses inherent in those classified as Substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. Loans that do not share risk characteristics are evaluated on an individual basis. Loans evaluated individually are not included in the pool evaluation. When management determines that foreclosure is probable or when the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the sale of the collateral, the expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for any discounts and selling costs as appropriate. Management monitors loan performance on a monthly basis and performs a quarterly evaluation of the adequacy of the Allowance for Credit Loss for loans (ACL). The Bank begins enhanced monitoring of all loans rated 6–OAEM or worse and obtains a new appraisal or asset valuation for any loans placed on nonaccrual and rated 7 - Substandard or worse. Management, at its discretion, may determine that additional adjustments to the appraisal or valuation are required. Valuation adjustments will be made as necessary based on factors, including, but not limited to: the economy, deferred maintenance, industry, type of property/equipment, age of the appraisal, etc. and the knowledge Management has about a particular situation. In addition, the cost to sell or liquidate the collateral is also estimated and deducted from the valuation in order to determine the net realizable value to the Bank. When determining the ACL, certain factors involved in the evaluation are inherently subjective and require material estimates that may be susceptible to significant change, including the amounts and timing of future cash flows. Management monitors the adequacy of the ACL on an ongoing basis and reports its adequacy quarterly to the Enterprise Risk Management Committee of the Board of Directors. Management believes the ACL at September 30, 2024 is adequate. ‎ The following table presents loans by year of origination and internally assigned risk ratings:
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |  |
|  | Term Loans |  | Loans |  | Loans |  |  |
|  | Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |  |
As of September 30, 2024 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Cost Basis |  | to Term |  | Total
Residential real estate 1-4 family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 4,234 |  | $ | 9,675 |  | $ | 8,184 |  | $ | 10,482 |  | $ | 8,625 |  | $ | 21,049 |  | $ | 3,411 |  | $ | — |  | $ | 65,660
OAEM (6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Commercial |  |  | 4,234 |  |  | 9,675 |  |  | 8,184 |  |  | 10,482 |  |  | 8,625 |  |  | 21,049 |  |  | 3,411 |  |  | — |  |  | 65,660
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 30,731 |  |  | 64,035 |  |  | 31,664 |  |  | 14,565 |  |  | 9,198 |  |  | 28,896 |  |  | 52,232 |  |  | 18,741 |  |  | 250,062
Nonperforming |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 38 |  |  | — |  |  | 38
Total Consumer |  |  | 30,731 |  |  | 64,035 |  |  | 31,664 |  |  | 14,565 |  |  | 9,198 |  |  | 28,896 |  |  | 52,270 |  |  | 18,741 |  |  | 250,100
Total |  | $ | 34,965 |  | $ | 73,710 |  | $ | 39,848 |  | $ | 25,047 |  | $ | 17,823 |  | $ | 49,945 |  | $ | 55,681 |  | $ | 18,741 |  | $ | 315,760
Current period gross charge-offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Residential real estate construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 4,766 |  | $ | 5,034 |  | $ | 403 |  | $ | 963 |  | $ | 171 |  | $ | 1,009 |  | $ | — |  | $ | — |  | $ | 12,346
OAEM (6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Commercial |  |  | 4,766 |  |  | 5,034 |  |  | 403 |  |  | 963 |  |  | 171 |  |  | 1,009 |  |  | — |  |  | — |  |  | 12,346
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 11,734 |  |  | 4,418 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,152
Nonperforming |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Consumer |  |  | 11,734 |  |  | 4,418 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 16,152
Total |  | $ | 16,500 |  | $ | 9,452 |  | $ | 403 |  | $ | 963 |  | $ | 171 |  | $ | 1,009 |  | $ | — |  | $ | — |  | $ | 28,498
Current period gross charge-offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 59,106 |  | $ | 214,677 |  |  | 106,382 |  |  | 94,819 |  | $ | 33,483 |  | $ | 227,850 |  | $ | 13,773 |  | $ | — |  | $ | 750,090
OAEM (6) |  |  | — |  |  | 2,913 |  |  | 2,052 |  |  | 1,717 |  |  | 6,671 |  |  | 1,061 |  |  | 94 |  |  | — |  |  | 14,508
Substandard (7) |  |  | — |  |  | 5,929 |  |  | — |  |  | — |  |  | — |  |  | 2,048 |  |  | 50 |  |  | — |  |  | 8,027
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 59,106 |  | $ | 223,519 |  | $ | 108,434 |  | $ | 96,536 |  | $ | 40,154 |  | $ | 230,959 |  | $ | 13,917 |  | $ | — |  | $ | 772,625
Current period gross charge-offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | (2) |  | $ | — |  | $ | — |  | $ | (2)
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 11,914 |  | $ | 28,812 |  | $ | 28,968 |  | $ | 40,361 |  | $ | 19,004 |  | $ | 62,461 |  | $ | 47,542 |  | $ | — |  | $ | 239,062
OAEM (6) |  |  | — |  |  | 11 |  |  | 434 |  |  | 1,543 |  |  | 12 |  |  | — |  |  | 250 |  |  | — |  |  | 2,250
Substandard (7) |  |  | — |  |  | — |  |  | 208 |  |  | — |  |  | — |  |  | — |  |  | 108 |  |  | — |  |  | 316
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 11,914 |  | $ | 28,823 |  | $ | 29,610 |  | $ | 41,904 |  | $ | 19,016 |  | $ | 62,461 |  | $ | 47,900 |  | $ | — |  | $ | 241,628
Current period gross charge-offs |  | $ | (10) |  | $ | — |  | $ | (79) |  | $ | — |  | $ | — |  | $ | — |  | $ | (62) |  | $ | — |  | $ | (151)
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 1,710 |  |  | 1,311 |  |  | 450 |  |  | 1,754 |  |  | 54 |  |  | 34 |  |  | 2,064 |  |  | — |  |  | 7,377
Nonperforming |  |  | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | 5
Total |  | $ | 1,710 |  | $ | 1,311 |  | $ | 450 |  | $ | 1,756 |  | $ | 54 |  | $ | 34 |  | $ | 2,067 |  | $ | — |  | $ | 7,382
Current period gross charge-offs |  | $ | (35) |  | $ | — |  | $ | (2) |  | $ | (2) |  | $ | (6) |  | $ | (2) |  | $ | (24) |  | $ | — |  | $ | (71)
‎
(Dollars in thousands) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |  |
|  | Term Loans |  | Loans |  | Loans |  |  |
|  | Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |  |
As of December 31, 2023 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Cost Basis |  | to Term |  | Total
Residential real estate 1-4 family: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 9,867 |  | $ | 9,088 |  | $ | 11,038 |  | $ | 9,691 |  | $ | 2,433 |  | $ | 22,906 |  | $ | 2,057 |  | $ | — |  | $ | 67,080
OAEM (6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Commercial |  |  | 9,867 |  |  | 9,088 |  |  | 11,038 |  |  | 9,691 |  |  | 2,433 |  |  | 22,906 |  |  | 2,057 |  |  | — |  |  | 67,080
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 53,128 |  |  | 34,136 |  |  | 15,625 |  |  | 10,245 |  |  | 5,222 |  |  | 28,423 |  |  | 43,968 |  |  | 20,022 |  |  | 210,769
Nonperforming |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Consumer |  |  | 53,128 |  |  | 34,136 |  |  | 15,625 |  |  | 10,245 |  |  | 5,222 |  |  | 28,423 |  |  | 43,968 |  |  | 20,022 |  |  | 210,769
Total |  | $ | 62,995 |  | $ | 43,224 |  | $ | 26,663 |  | $ | 19,936 |  | $ | 7,655 |  | $ | 51,329 |  | $ | 46,025 |  | $ | 20,022 |  | $ | 277,849
Current period gross charge-offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Residential real estate construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 6,845 |  | $ | 2,209 |  | $ | 1,289 |  | $ | 214 |  | $ | — |  | $ | 1,506 |  | $ | — |  | $ | — |  | $ | 12,063
OAEM (6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Commercial |  |  | 6,845 |  |  | 2,209 |  |  | 1,289 |  |  | 214 |  |  | — |  |  | 1,506 |  |  | — |  |  | — |  |  | 12,063
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 13,837 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,837
Nonperforming |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total Consumer |  |  | 13,837 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 13,837
Total |  | $ | 20,682 |  | $ | 2,209 |  | $ | 1,289 |  | $ | 214 |  | $ | — |  | $ | 1,506 |  | $ | — |  | $ | — |  | $ | 25,900
Current period gross charge-offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 180,052 |  | $ | 110,886 |  | $ | 98,540 |  | $ | 34,307 |  | $ | 38,603 |  | $ | 214,179 |  | $ | 10,567 |  | $ | — |  | $ | 687,134
OAEM (6) |  |  | 2,955 |  |  | 1,350 |  |  | 1,000 |  |  | 6,823 |  |  | — |  |  | 2,182 |  |  | 139 |  |  | — |  |  | 14,449
Substandard (7) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,134 |  |  | 50 |  |  | — |  |  | 2,184
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 183,007 |  | $ | 112,236 |  | $ | 99,540 |  | $ | 41,130 |  | $ | 38,603 |  | $ | 218,495 |  | $ | 10,756 |  | $ | — |  | $ | 703,767
Current period gross charge-offs |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk rating: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass (1-5) |  | $ | 34,851 |  | $ | 33,983 |  | $ | 45,754 |  | $ | 22,847 |  | $ | 3,579 |  | $ | 64,542 |  | $ | 36,508 |  | $ | — |  | $ | 242,064
OAEM (6) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Substandard (7) |  |  | — |  |  | 317 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 273 |  |  | — |  |  | 590
Doubtful (8) |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | —
Total |  | $ | 34,851 |  | $ | 34,300 |  | $ | 45,754 |  | $ | 22,847 |  | $ | 3,579 |  | $ | 64,542 |  | $ | 36,781 |  | $ | — |  | $ | 242,654
Current period gross charge-offs |  | $ | (125) |  | $ | — |  | $ | (130) |  | $ | — |  | $ | — |  | $ | — |  | $ | (50) |  | $ | — |  | $ | (305)
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  |  | 1,863 |  |  | 669 |  |  | 1,985 |  |  | 148 |  |  | 80 |  |  | 5 |  |  | 2,060 |  |  | — |  |  | 6,810
Nonperforming |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |  |  | — |  |  | 5
Total |  | $ | 1,863 |  | $ | 669 |  | $ | 1,985 |  | $ | 148 |  | $ | 80 |  | $ | 5 |  | $ | 2,065 |  | $ | — |  | $ | 6,815
Current period gross charge-offs |  | $ | (63) |  | $ | — |  | $ | (10) |  | $ | (2) |  | $ | (6) |  | $ | — |  | $ | (36) |  | $ | — |  | $ | (117)
‎ The following table presents the amortized cost basis of loans on nonaccrual status and loans past due 90 days or more and still accruing as of September 30, 2024:
|  | September 30, 2024 |  |  | December 31, 2023
(Dollars in thousands) |  | Nonaccrual and Loans past due 90 Days or more |  |  | Nonaccrual and Loans past due 90 Days or more
|  |  |  |  |  |  |  | Loans past due |  |  |  |  |  |  |  |  | Loans past due
|  | Nonaccrual |  | Nonaccrual |  | 90 Days or more |  |  | Nonaccrual |  | Nonaccrual |  | 90 Days or more
|  | Without ACL |  | With ACL |  | Still Accruing |  |  | Without ACL |  | With ACL |  | Still Accruing
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First liens |  | $ | — |  | $ | — |  | $ | 38 |  |  | $ | — |  | $ | — |  | $ | —
Junior liens and lines of credit |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | —
Total |  |  | — |  |  | — |  |  | 38 |  |  |  | — |  |  | — |  |  | —
Residential real estate - construction |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | —
Commercial real estate |  |  | — |  |  | — |  |  | — |  |  |  | — |  |  | — |  |  | —
Commercial |  |  | — |  |  | 308 |  |  | — |  |  |  | 147 |  |  | — |  |  | —
Consumer |  |  | — |  |  | — |  |  | 5 |  |  |  | — |  |  | — |  |  | 5
Total |  | $ | — |  | $ | 308 |  | $ | 43 |  |  | $ | 147 |  | $ | — |  | $ | 5
At September 30, 2024 the Corporation had one commercial loan relationship for $308 thousand of commercial loans that was considered to be collateral dependent. A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty, and the repayment is expected to be provided substantially through the operation or sale of collateral. This loan is secured by business assets and the Bank has established a specific reserve of $205 thousand for this loan. No loans were considered collateral dependent at December 31, 2023. At September 30, 2024 and December 31, 2023, the Bank had $0 of residential properties in the process of foreclosure. The following table presents the aging of payments of the loan portfolio:
(Dollars in thousands) |  |  | Loans Past Due |  | Total |  |  |  |  | Total
|  |  | 30-59 Days |  | 60-89 Days |  | 90 Days+ |  | Past Due |  | Current |  | Loans
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First liens |  |  | $ | 180 |  | $ | 484 |  | $ | 38 |  | $ | 702 |  | $ | 234,325 |  | $ | 235,027
Junior liens and lines of credit |  |  |  | 237 |  |  | 189 |  |  | — |  |  | 426 |  |  | 80,307 |  |  | 80,733
Total |  |  |  | 417 |  |  | 673 |  |  | 38 |  |  | 1,128 |  |  | 314,632 |  |  | 315,760
Residential real estate - construction |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 28,498 |  |  | 28,498
Commercial real estate |  |  |  | 220 |  |  | 266 |  |  | — |  |  | 486 |  |  | 772,139 |  |  | 772,625
Commercial |  |  |  | 122 |  |  | — |  |  | 308 |  |  | 430 |  |  | 241,198 |  |  | 241,628
Consumer |  |  |  | 22 |  |  | 6 |  |  | 5 |  |  | 33 |  |  | 7,349 |  |  | 7,382
Total |  |  | $ | 781 |  | $ | 945 |  | $ | 351 |  | $ | 2,077 |  | $ | 1,363,816 |  | $ | 1,365,893
|  |  | Loans Past Due |  | Total |  |  |  |  | Total |
|  |  | 30-59 Days |  | 60-89 Days |  | 90 Days+ |  | Past Due |  | Current |  | Loans |
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential Real Estate 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
First liens |  |  | $ | 62 |  | $ | 394 |  | $ | — |  | $ | 456 |  | $ | 204,832 |  | $ | 205,288 |
Junior liens and lines of credit |  |  |  | 239 |  |  | 228 |  |  | — |  |  | 467 |  |  | 72,094 |  |  | 72,561 |
Total |  |  |  | 301 |  |  | 622 |  |  | — |  |  | 923 |  |  | 276,926 |  |  | 277,849 |
Residential real estate - construction |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 25,900 |  |  | 25,900 |
Commercial real estate |  |  |  | 3,232 |  |  | — |  |  | — |  |  | 3,232 |  |  | 700,535 |  |  | 703,767 |
Commercial |  |  |  | 542 |  |  | 112 |  |  | 147 |  |  | 801 |  |  | 241,853 |  |  | 242,654 |
Consumer |  |  |  | 21 |  |  | 12 |  |  | 5 |  |  | 38 |  |  | 6,777 |  |  | 6,815 |
Total |  |  | $ | 4,096 |  | $ | 746 |  | $ | 152 |  | $ | 4,994 |  | $ | 1,251,991 |  | $ | 1,256,985 |
The following table presents, by class, the activity in the Allowance for Credit Losses (ACL) for the periods shown:
|  | Residential Real Estate 1-4 Family |  |  |  |  |  |  |  |  |  |  |  |  |
|  | First |  | Junior Liens & |  |  |  |  | Commercial |  |  |  |  |  |  |  |  |  |  |
(Dollars in thousands) |  | Liens |  | Lines of Credit |  | Construction |  | Real Estate |  | Commercial |  | Consumer |  | Unallocated |  | Total
ACL at June 30, 2024 |  | $ | 1,384 |  | $ | 429 |  | $ | 318 |  | $ | 11,423 |  | $ | 3,364 |  | $ | 100 |  | $ | — |  | $ | 17,018
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (25) |  |  | — |  |  | (27)
Recoveries |  |  | — |  |  | — |  |  | 4 |  |  | 3 |  |  | 32 |  |  | 3 |  |  | — |  |  | 42
Provision |  |  | 81 |  |  | 26 |  |  | 9 |  |  | 230 |  |  | 95 |  |  | 33 |  |  | — |  |  | 474
ACL at September 30, 2024 |  | $ | 1,465 |  | $ | 455 |  | $ | 331 |  | $ | 11,656 |  | $ | 3,489 |  | $ | 111 |  | $ | — |  | $ | 17,507
ACL at December 31, 2023 |  | $ | 1,296 |  | $ | 419 |  | $ | 296 |  | $ | 10,657 |  | $ | 3,290 |  | $ | 94 |  | $ | — |  | $ | 16,052
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (151) |  |  | (71) |  |  | — |  |  | (224)
Recoveries |  |  | — |  |  | — |  |  | 11 |  |  | 3 |  |  | 112 |  |  | 29 |  |  | — |  |  | 155
Provision |  |  | 169 |  |  | 36 |  |  | 24 |  |  | 998 |  |  | 238 |  |  | 59 |  |  | — |  |  | 1,524
ACL at September 30, 2024 |  | $ | 1,465 |  | $ | 455 |  | $ | 331 |  | $ | 11,656 |  | $ | 3,489 |  | $ | 111 |  | $ | — |  | $ | 17,507
ACL at June 30, 2023 |  | $ | 1,720 |  | $ | 683 |  | $ | 177 |  | $ | 9,083 |  | $ | 2,854 |  | $ | 98 |  | $ | — |  | $ | 14,615
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (2) |  |  | (21) |  |  | — |  |  | (23)
Recoveries |  |  | — |  |  | — |  |  | 4 |  |  | — |  |  | 15 |  |  | 51 |  |  | — |  |  | 70
Provision |  |  | (519) |  |  | (265) |  |  | 61 |  |  | 1,124 |  |  | 503 |  |  | (38) |  |  | — |  |  | 866
ACL at September 30, 2023 |  | $ | 1,201 |  | $ | 418 |  | $ | 242 |  | $ | 10,207 |  | $ | 3,370 |  | $ | 90 |  | $ | — |  | $ | 15,528
ACL at December 31, 2022 |  | $ | 459 |  | $ | 234 |  | $ | 343 |  | $ | 7,493 |  | $ | 4,846 |  | $ | 133 |  | $ | 667 |  | $ | 14,175
Impact of adopting ASU 2016-13 |  |  | 1,096 |  |  | 493 |  |  | (95) |  |  | 584 |  |  | (1,907) |  |  | (40) |  |  | (667) |  |  | (536)
Charge-offs |  |  | — |  |  | — |  |  | — |  |  | — |  |  | (89) |  |  | (97) |  |  | — |  |  | (186)
Recoveries |  |  | 2 |  |  | — |  |  | 46 |  |  | — |  |  | 94 |  |  | 76 |  |  | — |  |  | 218
Provision |  |  | (356) |  |  | (309) |  |  | (52) |  |  | 2,130 |  |  | 426 |  |  | 18 |  |  | — |  |  | 1,857
ACL at September 30, 2023 |  | $ | 1,201 |  | $ | 418 |  | $ | 242 |  | $ | 10,207 |  | $ | 3,370 |  | $ | 90 |  | $ | — |  | $ | 15,528
The ACL as of September 30, 2024 was comprised of $17.3 million pooled reserve and $205 thousand specific reserve. On January 1, 2023, The Bank adopted ASU 2022-02, “Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures” (“ASU 2022-02”), which eliminated the accounting guidance for troubled debt restructurings (“TDRs”) while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. Modifications to borrowers experiencing financial difficulty may include interest rate reductions, principal or interest forgiveness, forbearances, term extensions, and other actions intended to minimize economic loss and to avoid foreclosure or repossession of collateral. As of September 30, 2024 and December 31, 2023 there were no modifications made to borrowers experiencing financial difficulty.

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