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Loans and Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2023

Receivables [Abstract]

Schedule Of Composition Of Loans

The composition of loans at September 30, 2023 and December 31, 2022 was as follows:

		September 30,				December 31,
		2023				2022
		(in thousands)
Mortgage real estate loans:
Construction & Secured by Farmland		$	80,012			$	89,651
HELOCs			44,719				43,588
Residential First Lien - Investor			120,547				111,074
Residential First Lien - Owner Occupied			162,919				125,088
Residential Junior Liens			12,284				11,417
Commercial - Owner Occupied			244,088				232,115
Commercial - Non-Owner Occupied & Multifamily			355,122				315,326
Commercial and industrial loans:
SBA PPP loans			57				74
Other commercial and industrial loans			96,830				99,571
Marine loans			260,518				230,874
Consumer loans			42,538				44,841
Overdrafts			207				218
Other loans			13,089				12,503
Total loans		$	1,432,930			$	1,316,340
Net deferred loan costs and premiums			8,055				7,443
Allowance for credit losses			(14,573	)			(11,218	)
		$	1,426,412			$	1,312,565

Changes In Allowance For Loan Losses

Changes in the allowance for credit losses on loans for the three and nine months ended September 30, 2023 and 2022 were as follows:

		Three Months Ended				Three Months Ended				Nine Months Ended				Nine Months Ended
		September 30,				September 30,				September 30,				September 30,
		2023				2022				2023				2022
						(in thousands)
Balance, beginning		$	14,511			$	9,847			$	11,218			$	8,787
Cumulative effect adjustment for adoption of ASC 326			—				—				2,077				—
Provision for credit losses			218				—				1,337				900
Recoveries added to the allowance			31				976				255				1,224
Credit losses charged to the allowance			(187	)			(81	)			(314	)			(169	)
Balance, ending		$	14,573			$	10,742			$	14,573			$	10,742

Nonaccrual And Past Due Loans By Class

Nonaccrual and past due loans by class at September 30, 2023 were as follows:

		September 30, 2023
		(in thousands)
		30 - 59 Days Past Due				60 - 89 Days Past Due				90 or More Days Past Due				Total Past Due				Current				Total Loans				90 or More Days Past Due Still Accruing
Mortgage real estate loans:
Construction & Secured by Farmland		$	—			$	—			$	—			$	—			$	80,012			$	80,012			$	—
HELOCs			124				—				—				124				44,595				44,719				—
Residential First Lien - Investor			—				—				—				—				120,547				120,547				—
Residential First Lien - Owner Occupied			114				48				36				198				162,721				162,919				—
Residential Junior Liens			9				—				—				9				12,275				12,284				—
Commercial - Owner Occupied			—				—				—				—				244,088				244,088				—
Commercial - Non-Owner Occupied & Multifamily			—				—				—				—				355,122				355,122				—
Commercial and industrial loans:
SBA PPP loans			—				—				—				—				57				57				—
Other commercial and industrial loans			—				90				234				324				96,506				96,830				—
Marine loans			—				5				367				372				260,146				260,518				—
Consumer loans			261				86				66				413				42,125				42,538				66
Overdrafts			—				—				—				—				207				207				—
Other loans			—				—				—				—				13,089				13,089				—
Total		$	508			$	229			$	703			$	1,440			$	1,431,490			$	1,432,930			$	66

		September 30, 2023
		(in thousands)
		Nonaccruals with No Allowance for Credit Losses				Nonaccrual with an Allowance for Credit Losses				Nonaccrual Loans
Mortgage real estate loans:
Construction & Secured by Farmland		$	97			$	—			$	97
HELOCs			15				—				15
Residential First Lien - Investor			1,093				—				1,093
Residential First Lien - Owner Occupied			115				—				115
Residential Junior Liens			3				—				3
Commercial - Owner Occupied			27				—				27
Commercial - Non-Owner Occupied & Multifamily			3,656				—				3,656
Commercial and industrial loans:
SBA PPP loans			—				—				—
Other commercial and industrial loans			12				312				324
Marine loans			367				—				367
Consumer loans			—				—				—
Overdrafts			—				—				—
Other loans			—				—				—
Total		$	5,385			$	312			$	5,697

Nonaccrual and past due loans by class at December 31, 2022 were as follows:

		December 31, 2022
		(in thousands)
		30 - 59 Days Past Due				60 - 89 Days Past Due				90 or More Days Past Due				Total Past Due				Current				Total Loans				90 or More Past Due Still Accruing				Nonaccrual Loans
Mortgage real estate loans:
Construction & Secured by Farmland		$	—			$	—			$	101			$	101			$	89,550			$	89,651			$	—			$	397
HELOCs			149				—				—				149				43,439				43,588				—				155
Residential First Lien - Investor			—				—				—				—				111,074				111,074				—				—
Residential First Lien - Owner Occupied			222				—				39				261				124,827				125,088				—				175
Residential Junior Liens			—				—				—				—				11,417				11,417				—				6
Commercial - Owner Occupied			—				—				—				—				232,115				232,115				—				—
Commercial - Non-Owner Occupied & Multifamily			—				—				—				—				315,326				315,326				—				1,356
Commercial and industrial loans:
SBA PPP loans			—				—				—				—				74				74				—				—
Other commercial and industrial loans			15				—				73				88				99,483				99,571				—				73
Marine loans			—				—				—				—				230,874				230,874				—				—
Consumer loans			56				—				318				374				44,467				44,841				318				—
Overdrafts			—				—				—				—				218				218				—				—
Other loans			—				—				—				—				12,503				12,503				—				—
Total		$	442			$	—			$	531			$	973			$	1,315,367			$	1,316,340			$	318			$	2,162

Allowance for credit losses on loans by segment

The allowance for credit losses on loans by segment at September 30, 2023 and December 31, 2022 was as follows:

		As of and For the Nine Months Ended
		September 30, 2023
		(in thousands)
		Construction and Farmland				Residential Real Estate				Commercial Real Estate & MultiFamily				Commercial				Marine				Consumer				All Other Loans				Unallocated				Total
Allowance for credit losses:
Beginning Balance		$	2,714			$	1,735			$	2,221			$	2,222			$	1,555			$	299			$	472			$	—			$	11,218
Cumulative effect adjustment for adoption of ASC 326		$	(1,840	)		$	1,933			$	3,584			$	(1,102	)		$	(285	)		$	(123	)		$	(90	)		$	—			$	2,077
Charge-Offs			—				—				—				—				(126	)			(38	)			(150	)			—				(314	)
Recoveries			5				14				—				13				—				45				178				—				255
Provision			(134	)			765				496				92				289				48				(28	)			(191	)			1,337
Ending balance		$	745			$	4,447			$	6,301			$	1,225			$	1,433			$	231			$	382			$	(191	)		$	14,573
Ending balance: Individually evaluated		$	—			$	—			$	—			$	312			$	—			$	—			$	—			$	—			$	312
Ending balance: collectively evaluated		$	745			$	4,447			$	6,301			$	913			$	1,433			$	231			$	382			$	(191	)		$	14,261
Loans:
Ending balance		$	80,012			$	340,469			$	599,210			$	96,887			$	260,518			$	42,538			$	13,296			$	—			$	1,432,930
Ending balance individually evaluated		$	96			$	1,172			$	3,672			$	312			$	430			$	—			$	—			$	—			$	5,682
Ending balance collectively evaluated		$	79,916			$	339,297			$	595,538			$	96,575			$	260,088			$	42,538			$	13,296			$	—			$	1,427,248

		As of and For the Year Ended
		December 31, 2022
		(in thousands)
		Construction and Farmland				Residential Real Estate				Commercial Real Estate & MultiFamily				Commercial				Marine				Consumer				All Other Loans				Unallocated				Total
Allowance for credit losses:
Beginning Balance		$	2,794			$	1,671			$	1,729			$	1,294			$	789			$	219			$	291			$	—			$	8,787
Charge-Offs			—				(9	)			—				(300	)			—				(79	)			(271	)			—				(659	)
Recoveries			9				888				197				109				—				44				13				—				1,260
Provision			(89	)			(815	)			295				1,119				766				115				439				—				1,830
Ending balance		$	2,714			$	1,735			$	2,221			$	2,222			$	1,555			$	299			$	472			$	—			$	11,218
Ending balance: Individually evaluated for impairment		$	—			$	27			$	—			$	73			$	—			$	—			$	—			$	—			$	100
Ending balance: collectively evaluated for impairment		$	2,714			$	1,708			$	2,221			$	2,149			$	1,555			$	299			$	472			$	—			$	11,118
Loans:
Ending balance		$	89,651			$	291,167			$	547,441			$	99,645			$	230,874			$	44,841			$	12,721			$	—			$	1,316,340
Ending balance individually evaluated for impairment		$	1,044			$	3,719			$	1,695			$	141			$	—			$	22			$	—			$	—			$	6,621
Ending balance collectively evaluated for impairment		$	88,607			$	287,448			$	545,746			$	99,504			$	230,874			$	44,819			$	12,721			$	—			$	1,309,719

Amortized cost basis of collateral-dependent loans by loan portfolio segment

The following table presents the amortized cost basis of collateral-dependent loans by loan portfolio segment:

		September 30, 2023
		(in thousands)
(in thousands)		Real Estate Collateral				Other Collateral				Total
Mortgage real estate loans:
Construction & Secured by Farmland		$	96			$	—			$	96
HELOCs			—				—				—
Residential First Lien - Investor			1,093				—				1,093
Residential First Lien - Owner Occupied			79				—				79
Residential Junior Liens			—				—				—
Commercial - Owner Occupied			16				—				16
Commercial - Non-Owner Occupied & Multifamily			3,656				—				3,656
Commercial and industrial loans:
SBA PPP loans			—				—				—
Other commercial and industrial loans			—				312				312
Marine loans			—				430				430
Consumer loans			—				—				—
Overdrafts			—				—				—
Other loans			—				—				—
		$	4,940			$	742			$	5,682

Credit Quality Information By Class

Credit quality information by class at September 30, 2023 and December 31, 2022 was as follows:

		September 30, 2023
		Term Loan Amortized Cost Basis by Origination Year
(in thousands)		2023				2022				2021				2020				2019				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
Mortgage real estate loans:
Construction & Secured by Farmland
Pass		$	26,098			$	23,622			$	6,921			$	5,418			$	2,423			$	3,682			$	7,532			$	—			$	75,696
Special Mention			—				1,179				985				—				1,048				821				—				—				4,033
Classified			—				—				—				147				—				136				—				—				283
Total		$	26,098			$	24,801			$	7,906			$	5,565			$	3,471			$	4,639			$	7,532			$	—			$	80,012
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
HELOCs
Pass		$	—			$	—			$	—			$	—			$	—			$	—			$	44,654			$	—			$	44,654
Special Mention			—				—				—				—				—				—				49				—				49
Classified			—				—				—				—				—				—				16				—				16
Total		$	—			$	—			$	—			$	—			$	—			$	—			$	44,719			$	—			$	44,719
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Residential First Lien - Investor
Pass		$	16,530			$	26,717			$	32,126			$	11,375			$	4,754			$	24,517			$	—			$	—			$	116,019
Special Mention			—				1,670				233				626				—				907				—				—				3,436
Classified			—				—				1,092				—				—				—				—				—				1,092
Total		$	16,530			$	28,387			$	33,451			$	12,001			$	4,754			$	25,424			$	—			$	—			$	120,547
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Residential First Lien - Owner Occupied
Pass		$	43,193			$	31,810			$	24,017			$	36,231			$	4,040			$	22,299			$	—			$	—			$	161,590
Special Mention			—				—				—				—				—				472				—				—				472
Classified			—				—				—				—				—				857				—				—				857
Total		$	43,193			$	31,810			$	24,017			$	36,231			$	4,040			$	23,628			$	—			$	—			$	162,919
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Residential Junior Liens
Pass		$	1,766			$	2,969			$	3,499			$	1,515			$	653			$	1,844			$	—			$	—			$	12,246
Special Mention			—				—				—				—				—				—				—				—				—
Classified			—				—				—				—				—				38				—				—				38
Total		$	1,766			$	2,969			$	3,499			$	1,515			$	653			$	1,882			$	—			$	—			$	12,284
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Commercial - Owner Occupied
Pass		$	26,226			$	68,359			$	42,515			$	26,101			$	16,245			$	51,463			$	2,670			$	—			$	233,579
Special Mention			—				1,882				67				2,161				1,087				1,422				—				—				6,619
Classified			—				—				3,362				501				—				27				—				—				3,890
Total		$	26,226			$	70,241			$	45,944			$	28,763			$	17,332			$	52,912			$	2,670			$	—			$	244,088
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial - Non-Owner Occupied & Multifamily
Pass		$	52,459			$	93,832			$	66,232			$	74,303			$	17,044			$	44,118			$	1,196			$	—			$	349,184
Special Mention			—				—				2,282				—				—				—				—				—				2,282
Classified			—				—				—				2,368				—				1,288				—				—				3,656
Total		$	52,459			$	93,832			$	68,514			$	76,671			$	17,044			$	45,406			$	1,196			$	—			$	355,122
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Commercial and industrial loans:
SBA PPP loans
Pass		$	—			$	—			$	57			$	—			$	—			$	—			$	—			$	—			$	57
Special Mention			—				—				—				—				—				—				—				—				—
Classified			—				—				—				—				—				—				—				—				—
Total		$	—			$	—			$	57			$	—			$	—			$	—			$	—			$	—			$	57
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Other commercial and industrial loans
Pass		$	13,637			$	28,991			$	9,264			$	2,182			$	2,870			$	4,130			$	31,256			$	—			$	92,330
Special Mention			1,529				—				—				—				1				10				2,636				—				4,176
Classified			231				81				—				3				—				—				9				—				324
Total		$	15,397			$	29,072			$	9,264			$	2,185			$	2,871			$	4,140			$	33,901			$	—			$	96,830
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Marine loans
Pass		$	90,224			$	132,659			$	36,594			$	674			$	—			$	—			$	—			$	—			$	260,151
Special Mention			—				—				—				—				—				—				—				—				—
Classified			367				—				—				—				—				—				—				—				367
Total		$	90,591			$	132,659			$	36,594			$	674			$	—			$	—			$	—			$	—			$	260,518
Current period gross charge-offs		$	—			$	126			$	—			$	—			$	—			$	—			$	—			$	—			$	126
Consumer loans
Pass		$	2,542			$	14,375			$	6,416			$	9,032			$	1,810			$	37			$	8,326			$	—			$	42,538
Special Mention			—				—				—				—				—				—				—				—				—
Classified			—				—				—				—				—				—				—				—				—
Total		$	2,542			$	14,375			$	6,416			$	9,032			$	1,810			$	37			$	8,326			$	—			$	42,538
Current period gross charge-offs		$	—			$	3			$	—			$	—			$	—			$	—			$	35			$	—			$	38
Overdrafts
Pass		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Special Mention			—				—				—				—				—				—				—				—				—
Classified			207				—				—				—				—				—				—				—				207
Total		$	207			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	207
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	150			$	—			$	150
Other loans
Pass		$	72			$	10,173			$	30			$	9			$	—			$	2,685			$	120			$	—			$	13,089
Special Mention			—				—				—				—				—				—				—				—				—
Classified			—				—				—				—				—				—				—				—				—
Total		$	72			$	10,173			$	30			$	9			$	—			$	2,685			$	120			$	—			$	13,089
Current period gross charge-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—
Total by Risk Category

Pass		$	272,747			$	433,507			$	227,671			$	166,840			$	49,839			$	154,775			$	95,754			$	—			$	1,401,133
Special Mention			1,529				4,731				3,567				2,787				2,136				3,632				2,685				—				21,067
Classified			805				81				4,454				3,019				—				2,346				25				—				10,730
Total		$	275,081			$	438,319			$	235,692			$	172,646			$	51,975			$	160,753			$	98,464			$	—			$	1,432,930
Total current period gross charge-offs		$	—			$	129			$	—			$	—			$	—			$	—			$	185			$	—			$	314

		As of
		December 31, 2022
		(in thousands)
INTERNAL RISK RATING GRADES		Pass				Special Mention				Substandard				Doubtful				Loss				Total
Commercial - Non Real Estate:
Commercial & Industrial		$	247,061			$	526			$	72			$	—			$	—			$	247,659
Commercial Real Estate:
Owner Occupied			212,074				20,020				21				—				—				232,115
Non-owner occupied			257,625				16,189				1,706				—				—				275,520
Construction and Farm land:
Residential			11,235				—				21				—				—				11,256
Commercial			69,427				153				8,815				—				—				78,395
Residential:
Equity Lines			43,124				310				154				—				—				43,588
Single family			251,247				5,972				951				—				—				258,170
Multifamily			39,806				—				—				—				—				39,806
All other loans			12,721				—				—				—				—				12,721
Total		$	1,144,320			$	43,170			$	11,740			$	—			$	—			$	1,199,230

		Performing				Nonperforming
Consumer Credit Exposure by Payment Activity		$	116,908			$	202

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Schedule Of Composition Of Loans [Table Text Block]

+ References

No definition available.

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- 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

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-Topic 310
-SubTopic 10
-Section 50
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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
-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

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-Topic 310
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-Section 50
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No definition available.

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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
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Tabular disclosure of activity in the balance of servicing liabilities subsequently measured at amortized cost. Includes, but is not limited to, beginning and ending balances, additions, disposals, and amortization.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 860
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-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
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