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LOANS AND ALLOWANCE FOR CREDIT LOSSES | 3 Months Ended
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Mar. 31, 2024
LOANS AND ALLOWANCE FOR CREDIT LOSSES [Abstract] |
LOANS AND ALLOWANCE FOR CREDIT LOSSES | NOTE 4 – LOANS AND ALLOWANCE FOR CREDIT LOSSES Loans are comprised of the following:
|  | March 31, 2024 |  |  | December 31, 2023 |
Residential real estate |  | $ | 324,738 |  |  | $ | 319,504 |
Commercial real estate: |  |  |  |  |  |  |  |
Owner-occupied |  |  | 79,317 |  |  |  | 82,356 |
Nonowner-occupied |  |  | 182,994 |  |  |  | 178,201 |
Construction |  |  | 73,586 |  |  |  | 62,337 |
Commercial and industrial |  |  | 160,473 |  |  |  | 157,298 |
Consumer: |  |  |  |  |  |  |  |
Automobile |  |  | 58,641 |  |  |  | 61,461 |
Home equity |  |  | 38,434 |  |  |  | 35,893 |
Other |  |  | 71,679 |  |  |  | 74,850 |
|  |  | 989,862 |  |  |  | 971,900 |
Less: Allowance for credit losses |  |  | (9,229 | ) |  |  | (8,767 | )
Loans, net |  | $ | 980,633 |  |  | $ | 963,133 |
At March 31, 2024 and December 31, 2023, net deferred loan origination costs were $777 and $794, respectively. At March 31, 2024 and December 31, 2023, net unamortized loan purchase premiums were $631 and $687, respectively. The following table presents the recorded investment of nonaccrual loans and loans past due 90 days or more and still accruing by class of loans as of March 31, 2024 and December 31, 2023:
March 31, 2024 |  | Loans Past Due 90 Days And Still Accruing |  |  | Nonaccrual Loans With No ACL |  |  | Nonaccrual Loans With an ACL |  |  | Total Nonaccrual Loans |
Residential real estate |  | $ | 13 |  |  | $ | 1,663 |  |  | $ | 357 |  |  | $ | 2,020 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  | — |  |  |  | 885 |  |  |  | — |  |  |  | 885 |
Nonowner-occupied |  |  | — |  |  |  | — |  |  |  | 66 |  |  |  | 66 |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | — |  |  |  | 105 |  |  |  | 44 |  |  |  | 149 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Automobile |  |  | 145 |  |  |  | — |  |  |  | 94 |  |  |  | 94 |
Home equity |  |  | — |  |  |  | 27 |  |  |  | 125 |  |  |  | 152 |
Other |  |  | 39 |  |  |  | — |  |  |  | 115 |  |  |  | 115 |
Total |  | $ | 197 |  |  | $ | 2,680 |  |  | $ | 801 |  |  | $ | 3,481 |
December 31, 2023 |  | Loans Past Due 90 Days And Still Accruing |  |  | Nonaccrual Loans With No ACL |  |  | Nonaccrual Loans With an ACL |  |  | Total Nonaccrual Loans |
Residential real estate |  | $ | 9 |  |  | $ | — |  |  | $ | 1,234 |  |  | $ | 1,234 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  | — |  |  |  | 775 |  |  |  | — |  |  |  | 775 |
Nonowner-occupied |  |  | — |  |  |  | — |  |  |  | 61 |  |  |  | 61 |
Construction |  |  | — |  |  |  | — |  |  |  | 1 |  |  |  | 1 |
Commercial and industrial |  |  | — |  |  |  | — |  |  |  | 48 |  |  |  | 48 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Automobile |  |  | 56 |  |  |  | — |  |  |  | 78 |  |  |  | 78 |
Home equity |  |  | — |  |  |  | — |  |  |  | 95 |  |  |  | 95 |
Other |  |  | 54 |  |  |  | — |  |  |  | 100 |  |  |  | 100 |
Total |  | $ | 119 |  |  | $ | 775 |  |  | $ | 1,617 |  |  | $ | 2,392 |
The Company recognized $4 and $20 of interest income in nonaccrual loans during the three months ended March 31, 2024 and 2023, respectively. The following table presents the aging of the recorded investment of past due loans by class of loans as of March 31, 2024 and December 31, 2023:
March 31, 2024 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days Or More Past Due |  |  | Total Past Due |  |  | Loans Not Past Due |  |  | Total |
Residential real estate |  | $ | 2,941 |  |  | $ | 687 |  |  | $ | 1,141 |  |  | $ | 4,769 |  |  | $ | 319,969 |  |  | $ | 324,738 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  | 70 |  |  |  | 805 |  |  |  | 179 |  |  |  | 1,054 |  |  |  | 78,263 |  |  |  | 79,317 |
Nonowner-occupied |  |  | 173 |  |  |  | — |  |  |  | - |  |  |  | 173 |  |  |  | 182,821 |  |  |  | 182,994 |
Construction |  |  | - |  |  |  | 3 |  |  |  | — |  |  |  | 3 |  |  |  | 73,583 |  |  |  | 73,586 |
Commercial and industrial |  |  | 615 |  |  |  | — |  |  |  | 149 |  |  |  | 764 |  |  |  | 159,709 |  |  |  | 160,473 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Automobile |  |  | 1,117 |  |  |  | 116 |  |  |  | 221 |  |  |  | 1,454 |  |  |  | 57,187 |  |  |  | 58,641 |
Home equity |  |  | 351 |  |  |  | 112 |  |  |  | 92 |  |  |  | 555 |  |  |  | 37,879 |  |  |  | 38,434 |
Other |  |  | 510 |  |  |  | 633 |  |  |  | 149 |  |  |  | 1,292 |  |  |  | 70,387 |  |  |  | 71,679 |
Total |  | $ | 5,777 |  |  | $ | 2,356 |  |  | $ | 1,931 |  |  | $ | 10,064 |  |  | $ | 979,798 |  |  | $ | 989,862 |
December 31, 2023 |  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days Or More Past Due |  |  | Total Past Due |  |  | Loans Not Past Due |  |  | Total |
Residential real estate |  | $ | 2,705 |  |  | $ | 368 |  |  | $ | 481 |  |  | $ | 3,554 |  |  | $ | 315,950 |  |  | $ | 319,504 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  | 2,580 |  |  |  | — |  |  |  | 775 |  |  |  | 3,355 |  |  |  | 79,001 |  |  |  | 82,356 |
Nonowner-occupied |  |  | 681 |  |  |  | — |  |  |  | — |  |  |  | 681 |  |  |  | 177,520 |  |  |  | 178,201 |
Construction |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 62,337 |  |  |  | 62,337 |
Commercial and industrial |  |  | 3,338 |  |  |  | — |  |  |  | 48 |  |  |  | 3,386 |  |  |  | 153,912 |  |  |  | 157,298 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Automobile |  |  | 782 |  |  |  | 210 |  |  |  | 117 |  |  |  | 1,109 |  |  |  | 60,352 |  |  |  | 61,461 |
Home equity |  |  | 353 |  |  |  | 62 |  |  |  | 95 |  |  |  | 510 |  |  |  | 35,383 |  |  |  | 35,893 |
Other |  |  | 658 |  |  |  | 121 |  |  |  | 148 |  |  |  | 927 |  |  |  | 73,923 |  |  |  | 74,850 |
Total |  | $ | 11,097 |  |  | $ | 761 |  |  | $ | 1,664 |  |  | $ | 13,522 |  |  | $ | 958,378 |  |  | $ | 971,900 |
Credit Quality Indicators: The Company 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, public information, and current economic trends, among other factors. These risk categories are represented by a loan grading scale from 1 through 11. The Company analyzes loans individually with a higher credit risk rating and groups these loans into categories called “criticized” and ”classified” assets. The Company considers its criticized assets to be loans that are graded 8 and its classified assets to be loans that are graded 9 through 11. The Company’s risk categories are reviewed at least annually on loans that have aggregate borrowing amounts that meet or exceed. The Company uses the following definitions for its criticized loan risk ratings: Special Mention. Loans classified as “special mention” are graded 8 and indicate considerable risk due to deterioration of repayment (in the earliest stages) due to potential weak primary repayment source, or payment delinquency. These loans will be under constant supervision, are not classified and do not expose the institution to sufficient risks to warrant classification. These deficiencies should be correctable within the normal course of business, although significant changes in company structure or policy may be necessary to correct the deficiencies. These loans are considered bankable assets with no apparent loss of principal or interest envisioned. The perceived risk in continued lending is considered to have increased beyond the level where such loans would normally be granted. The Company uses the following definitions for its classified loan risk ratings: Substandard. Loans classified as “substandard” are graded 9 and represent very high risk, serious delinquency, nonaccrual, or unacceptable credit. Repayment through the primary source of repayment is in jeopardy due to the existence of one or more well-defined weaknesses, and the collateral pledged may inadequately protect collection of the loans. Loss of principal is not likely if weaknesses are corrected, although financial statements normally reveal significant weakness. Loans are still considered collectible, although loss of principal is more likely than with special mention loans. Collateral liquidation is considered likely to satisfy debt. Doubtful. Loans classified as “doubtful” are graded 10 and display a high probability of loss, although the amount of actual loss at the time of classification is undetermined. This classification should be temporary until such time that actual loss can be identified, or improvements are made to reduce the seriousness of the classification. These loans exhibit all substandard characteristics with the addition that weaknesses make collection or liquidation in full highly questionable and improbable. This classification consists of loans where the possibility of loss is high after collateral liquidation based upon existing facts, market conditions, and value. Loss is deferred until certain important and reasonable specific pending factors that may strengthen the credit can be more accurately determined. These factors may include proposed acquisitions, liquidation procedures, capital injection, receipt of additional collateral, mergers, or refinancing plans. A doubtful classification for an entire credit should be avoided when collection of a specific portion appears highly probable with the adequately secured portion graded substandard. Loss. Loans classified as “loss” are graded 11 and are considered uncollectible and are of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the credit has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this asset yielding such a minimum value even though partial recovery may be affected in the future. Amounts classified as loss should be promptly charged off. As of March 31, 2024 and December 31, 2023, and based on the most recent analysis performed, the risk category of commercial loans by class of loans was as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 1,571 |  |  | $ | 17,801 |  |  | $ | 7,859 |  |  | $ | 10,484 |  |  | $ | 5,735 |  |  | $ | 18,700 |  |  | $ | 347 |  |  | $ | 62,497 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 13,405 |  |  |  | — |  |  |  | 633 |  |  |  | 99 |  |  |  | 14,137 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,383 |  |  |  | 300 |  |  |  | 2,683 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 1,571 |  |  | $ | 17,801 |  |  | $ | 7,859 |  |  | $ | 23,889 |  |  | $ | 5,735 |  |  | $ | 21,716 |  |  | $ | 746 |  |  | $ | 79,317 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonowner-occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 9,036 |  |  | $ | 6,210 |  |  | $ | 27,689 |  |  | $ | 31,906 |  |  | $ | 20,259 |  |  | $ | 70,782 |  |  | $ | 5,585 |  |  | $ | 171,467 |
Special Mention |  |  | — |  |  |  | 1,663 |  |  |  | 113 |  |  |  | 760 |  |  |  | — |  |  |  | 5,791 |  |  |  | — |  |  |  | 8,327 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 3,200 |  |  |  | — |  |  |  | — |  |  |  | 3,200 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 9,036 |  |  | $ | 7,873 |  |  | $ | 27,802 |  |  | $ | 32,666 |  |  | $ | 23,459 |  |  | $ | 76,573 |  |  | $ | 5,585 |  |  | $ | 182,994 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,820 |  |  | $ | 33,479 |  |  | $ | 31,455 |  |  | $ | 1,186 |  |  | $ | 296 |  |  | $ | 3,148 |  |  | $ | 306 |  |  | $ | 72,690 |
Special Mention |  |  | — |  |  |  | 657 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 52 |  |  |  | — |  |  |  | 709 |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 187 |  |  |  | — |  |  |  | 187 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 2,820 |  |  | $ | 34,136 |  |  | $ | 31,455 |  |  | $ | 1,186 |  |  | $ | 296 |  |  | $ | 3,387 |  |  | $ | 306 |  |  | $ | 73,586 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,436 |  |  | $ | 8,363 |  |  | $ | 29,893 |  |  | $ | 26,592 |  |  | $ | 30,383 |  |  | $ | 27,512 |  |  | $ | 28,631 |  |  | $ | 154,810 |
Special Mention |  |  | — |  |  |  | 196 |  |  |  | 91 |  |  |  | 503 |  |  |  | 273 |  |  |  | — |  |  |  | 440 |  |  |  | 1,503 |
Substandard |  |  | — |  |  |  | 134 |  |  |  | — |  |  |  | 55 |  |  |  | 1,291 |  |  |  | 165 |  |  |  | 2,515 |  |  |  | 4,160 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 3,436 |  |  | $ | 8,693 |  |  | $ | 29,984 |  |  | $ | 27,150 |  |  | $ | 31,947 |  |  | $ | 27,677 |  |  | $ | 31,586 |  |  | $ | 160,473 |
Current Period gross charge-offs |  | $ | 107 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | — |  |  | $ | — |  |  | $ | 1 |  |  | $ | 109 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 18,120 |  |  | $ | 7,911 |  |  | $ | 10,679 |  |  | $ | 5,973 |  |  | $ | 6,125 |  |  | $ | 15,925 |  |  | $ | 459 |  |  | $ | 65,192 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 427 |  |  |  | — |  |  |  | 427 |
Substandard |  |  | — |  |  |  | — |  |  |  | 13,934 |  |  |  | — |  |  |  | 498 |  |  |  | 2,005 |  |  |  | 300 |  |  |  | 16,737 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 18,120 |  |  | $ | 7,911 |  |  | $ | 24,613 |  |  | $ | 5,973 |  |  | $ | 6,623 |  |  | $ | 18,357 |  |  | $ | 759 |  |  | $ | 82,356 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Nonowner-occupied |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 12,688 |  |  | $ | 29,344 |  |  | $ | 32,235 |  |  | $ | 20,484 |  |  | $ | 15,415 |  |  | $ | 61,809 |  |  | $ | 1,128 |  |  | $ | 173,103 |
Special Mention |  |  | — |  |  |  | — |  |  |  | 768 |  |  |  | 3,226 |  |  |  | — |  |  |  | 1,034 |  |  |  | — |  |  |  | 5,028 |
Substandard |  |  | — |  |  |  | — |  |  |  | 70 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 70 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 12,688 |  |  | $ | 29,344 |  |  | $ | 33,073 |  |  | $ | 23,710 |  |  | $ | 15,415 |  |  | $ | 62,843 |  |  | $ | 1,128 |  |  | $ | 178,201 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 132 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 132 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  |  | 20219 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 28,055 |  |  | $ | 29,174 |  |  | $ | 1,231 |  |  | $ | 302 |  |  | $ | 392 |  |  | $ | 2,937 |  |  | $ | — |  |  | $ | 62,091 |
Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 246 |  |  |  | — |  |  |  | 246 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 28,055 |  |  | $ | 29,174 |  |  | $ | 1,231 |  |  | $ | 302 |  |  | $ | 392 |  |  | $ | 3,183 |  |  | $ | — |  |  | $ | 62,337 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 8,770 |  |  | $ | 30,885 |  |  | $ | 26,806 |  |  | $ | 31,247 |  |  | $ | 344 |  |  | $ | 27,632 |  |  | $ | 27,510 |  |  | $ | 153,194 |
Special Mention |  |  | 140 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 8 |  |  |  | 66 |  |  |  | 214 |
Substandard |  |  | — |  |  |  | — |  |  |  | 58 |  |  |  | 1,363 |  |  |  | 4 |  |  |  | 182 |  |  |  | 2,283 |  |  |  | 3,890 |
Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Total |  | $ | 8,910 |  |  | $ | 30,885 |  |  | $ | 26,864 |  |  | $ | 32,610 |  |  | $ | 348 |  |  | $ | 27,822 |  |  | $ | 29,859 |  |  | $ | 157,298 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 29 |  |  | $ | 29 |
The Company considers the performance of the loan portfolio and its impact on the allowance for credit losses. For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan, which was previously presented, and by payment activity. The following table presents the recorded investment of residential and consumer loans by class of loans based on repayment activity as of March 31, 2024 and December 31, 2023:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 8,841 |  |  | $ | 53,765 |  |  | $ | 43,313 |  |  | $ | 50,199 |  |  | $ | 43,511 |  |  | $ | 109,602 |  |  | $ | 13,474 |  |  | $ | 322,705 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | 927 |  |  |  | — |  |  |  | — |  |  |  | 1,106 |  |  |  | — |  |  |  | 2,033 |
Total |  | $ | 8,841 |  |  | $ | 53,765 |  |  | $ | 44,240 |  |  | $ | 50,199 |  |  | $ | 43,511 |  |  | $ | 110,708 |  |  | $ | 13,474 |  |  | $ | 324,738 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 10 |  |  | $ | — |  |  | $ | — |  |  | $ | 27 |  |  | $ | — |  |  | $ | 37 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Consumer - Automobile: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 3,894 |  |  | $ | 26,641 |  |  | $ | 18,048 |  |  | $ | 5,922 |  |  | $ | 2,504 |  |  | $ | 1,393 |  |  | $ | — |  |  | $ | 58,402 |
Nonperforming |  |  | — |  |  |  | 128 |  |  |  | 51 |  |  |  | 37 |  |  |  | — |  |  |  | 23 |  |  |  | — |  |  |  | 239 |
Total |  | $ | 3,894 |  |  | $ | 26,769 |  |  | $ | 18,099 |  |  | $ | 5,959 |  |  | $ | 2,504 |  |  | $ | 1,416 |  |  | $ | — |  |  | $ | 58,641 |
Current Period gross charge-offs |  | $ | — |  |  | $ | 64 |  |  | $ | 129 |  |  | $ | 5 |  |  | $ | — |  |  | $ | 2 |  |  | $ | — |  |  | $ | 200 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Consumer - Home Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | — |  |  | $ | 1,773 |  |  | $ | — |  |  | $ | 92 |  |  | $ | — |  |  | $ | 119 |  |  | $ | 36,298 |  |  | $ | 38,282 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 152 |  |  |  | 152 |
Total |  | $ | — |  |  | $ | 1,773 |  |  | $ | — |  |  | $ | 92 |  |  | $ | — |  |  | $ | 119 |  |  | $ | 36,450 |  |  | $ | 38,434 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
March 31, 2024 |  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Consumer - Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 4,747 |  |  | $ | 25,236 |  |  | $ | 12,305 |  |  | $ | 9,713 |  |  | $ | 3,951 |  |  | $ | 1,697 |  |  | $ | 13,877 |  |  | $ | 71,526 |
Nonperforming |  |  | — |  |  |  | 38 |  |  |  | 35 |  |  |  | 6 |  |  |  | 36 |  |  |  | 4 |  |  |  | 34 |  |  |  | 153 |
Total |  | $ | 4,747 |  |  | $ | 25,274 |  |  | $ | 12,340 |  |  | $ | 9,719 |  |  | $ | 3,987 |  |  | $ | 1,701 |  |  | $ | 13,911 |  |  | $ | 71,679 |
Current Period gross charge-offs |  | $ | 68 |  |  | $ | 18 |  |  | $ | 28 |  |  | $ | 51 |  |  | $ | 16 |  |  | $ | 2 |  |  | $ | 65 |  |  | $ | 248 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 50,484 |  |  | $ | 44,640 |  |  | $ | 50,949 |  |  | $ | 44,818 |  |  | $ | 21,854 |  |  | $ | 91,956 |  |  | $ | 13,560 |  |  | $ | 318,261 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 182 |  |  |  | 1,061 |  |  |  | — |  |  |  | 1,243 |
Total |  | $ | 50,484 |  |  | $ | 44,640 |  |  | $ | 50,949 |  |  | $ | 44,818 |  |  | $ | 22,036 |  |  | $ | 93,017 |  |  | $ | 13,560 |  |  | $ | 319,504 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 3 |  |  | $ | — |  |  | $ | — |  |  | $ | 118 |  |  | $ | — |  |  | $ | 121 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Consumer - Automobile: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 28,939 |  |  | $ | 20,376 |  |  | $ | 7,013 |  |  | $ | 3,028 |  |  | $ | 1,212 |  |  | $ | 759 |  |  | $ | — |  |  | $ | 61,327 |
Nonperforming |  |  | 34 |  |  |  | 60 |  |  |  | 15 |  |  |  | 1 |  |  |  | 9 |  |  |  | 15 |  |  |  | — |  |  |  | 134 |
Total |  | $ | 28,973 |  |  | $ | 20,436 |  |  | $ | 7,028 |  |  | $ | 3,029 |  |  | $ | 1,221 |  |  | $ | 774 |  |  | $ | — |  |  | $ | 61,461 |
Current Period gross charge-offs |  | $ | 51 |  |  | $ | 163 |  |  | $ | 116 |  |  | $ | 6 |  |  | $ | 29 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 368 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Consumer - Home Equity: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 1,649 |  |  | $ | 79 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 34,070 |  |  | $ | 35,798 |
Nonperforming |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 95 |  |  |  | 95 |
Total |  | $ | 1,649 |  |  | $ | 79 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 34,165 |  |  | $ | 35,893 |
Current Period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 87 |  |  | $ | 87 |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Loans |  |  |  |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  | Amortized |  |  |  |
December 31, 2023 |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Cost Basis |  |  | Total |
Consumer - Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing |  | $ | 18,377 |  |  | $ | 24,904 |  |  | $ | 10,800 |  |  | $ | 4,482 |  |  | $ | 1,093 |  |  | $ | 953 |  |  | $ | 14,087 |  |  | $ | 74,696 |
Nonperforming |  |  | 11 |  |  |  | 17 |  |  |  | 67 |  |  |  | 53 |  |  |  | 1 |  |  |  | 4 |  |  |  | 1 |  |  |  | 154 |
Total |  | $ | 18,388 |  |  | $ | 24,921 |  |  | $ | 10,867 |  |  | $ | 4,535 |  |  | $ | 1,094 |  |  | $ | 957 |  |  | $ | 14,088 |  |  | $ | 74,850 |
Current Period gross charge-offs |  | $ | 306 |  |  | $ | 119 |  |  | $ | 119 |  |  | $ | 84 |  |  | $ | 28 |  |  | $ | 53 |  |  | $ | 246 |  |  | $ | 955 |
The Company originates residential, consumer, and commercial loans to customers located primarily in the southeastern areas of Ohio as well as the western counties of West Virginia. Approximately 4.46% of total loans were unsecured at March 31, 2024, up from 4.37% at December 31, 2023. Modifications to Borrowers Experiencing Financial Difficulty: Occasionally, the Company modifies loans to borrowers experiencing financial difficulty. These modifications may include one or a combination of the following: a reduction of the stated interest rate of the loan; an extension of the maturity date at a stated rate of interest lower than the current market rate for new debt with similar risk; a reduction in the contractual principal and interest payments of the loan; or short-term interest-only payment terms. All modifications to borrowers experiencing financial difficulty are considered to be impaired. During the three months ended March 31, 2024 and 2023, the Company experienced no new modifications to borrowers experiencing financial difficulty. The following table presents the activity in the allowance for credit losses by portfolio segment for the three months ended March 31, 2024 and 2023:
March 31, 2024 |  | Residential Real Estate |  |  | Commercial Real Estate |  |  | Commercial and Industrial |  |  | Consumer |  |  | Total |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 2,213 |  |  | $ | 3,047 |  |  | $ | 1,275 |  |  | $ | 2,232 |  |  | $ | 8,767 |
Provision for credit losses |  |  | 130 |  |  |  | 188 |  |  |  | 184 |  |  |  | 355 |  |  |  | 857 |
Loans charged-off |  |  | (37 | ) |  |  | — |  |  |  | (109 | ) |  |  | (448 | ) |  |  | (594 | )
Recoveries |  |  | 22 |  |  |  | 11 |  |  |  | 4 |  |  |  | 162 |  |  |  | 199 |
Total ending allowance balance |  | $ | 2,328 |  |  | $ | 3,246 |  |  | $ | 1,354 |  |  | $ | 2,301 |  |  | $ | 9,229 |
March 31, 2023 |  | Residential Real Estate |  |  | Commercial Real Estate |  |  | Commercial and Industrial |  |  | Consumer |  |  | Total |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 2,026 |  |  | $ | 2,200 |  |  | $ | 1,177 |  |  | $ | 2,028 |  |  | $ | 7,431 |
Provision for credit losses |  |  | 39 |  |  |  | 225 |  |  |  | 21 |  |  |  | 180 |  |  |  | 465 |
Loans charged-off |  |  | (47 | ) |  |  | (132 | ) |  |  | (29 | ) |  |  | (248 | ) |  |  | (456 | )
Recoveries |  |  | 13 |  |  |  | 13 |  |  |  | 8 |  |  |  | 133 |  |  |  | 167 |
Total ending allowance balance |  | $ | 2,031 |  |  | $ | 2,306 |  |  | $ | 1,177 |  |  | $ | 2,093 |  |  | $ | 7,607 |
The following table presents the amortized cost basis of collateral dependent loans by class of loans as of March 31, 2024 and December 31, 2023:
|  | Collateral Type |
March 31, 2024 |  | Real Estate |  |  | Business Assets |  |  | Total |
Residential real estate |  | $ | 1,663 |  |  | $ | — |  |  | $ | 1,663 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  | 696 |  |  |  | 189 |  |  |  | 885 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 27 |  |  |  | — |  |  |  | 27 |
Total collateral dependent loans |  | $ | 2,386 |  |  | $ | 189 |  |  | $ | 2,575 |
|  | Collateral Type |
December 31, 2023 |  | Real Estate |  |  | Business Assets |  |  | Total |
Residential real estate |  | $ | 1,663 |  |  | $ | — |  |  | $ | 1,663 |
Commercial real estate: |  |  |  |  |  |  |  |  |  |  |  |
Owner-occupied |  |  | 700 |  |  |  | 258 |  |  |  | 958 |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |
Home equity |  |  | 27 |  |  |  | — |  |  |  | 27 |
Total collateral dependent loans |  | $ | 2,390 |  |  | $ | 258 |  |  | $ | 2,648 |
The recorded investment of a loan excludes accrued interest and net deferred origination fees and costs due to immateriality. Nonaccrual loans and loans past due 90 days or more and still accruing include both smaller balance homogenous loans that are collectively evaluated for impairment and individually classified as impaired loans. The Company transfers loans to other real estate owned, at fair value less cost to sell, in the period the Company obtains physical possession of the property (through legal title or through a deed in lieu). The Company had no other real estate owned for residential real estate properties at March 31, 2024 compared to $68 at December 31, 2023. In addition, nonaccrual residential mortgage loans that are in the process of foreclosure had a recorded investment of $196 and $348 as of March 31, 2024 and December 31, 2023, respectively.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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- References No definition available. + Details
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