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Loans (Tables)
12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of Loans
Loans, net of unearned fees and unamortized loan origination costs, are comprised of the following:
December 31,
20242023
(In thousands)Loan Balance% of Total LoansLoan Balance% of Total Loans
Commercial and business loans$63,653 6.9 %$53,273 5.8 %
Government program loans62 <0.01 %74 <0.01 %
Total commercial and industrial63,715 6.9 %53,347 5.8 %
Real estate – mortgage:  
Commercial real estate419,422 45.2 %386,134 42.0 %
Residential mortgages247,248 26.6 %260,539 28.3 %
Home improvement and home equity loans24 <0.01 %36 <0.01 %
Total real estate mortgage666,694 71.8 %646,709 70.3 %
Real estate construction and development111,145 12.0 %127,944 13.9 %
Agricultural49,462 5.3 %49,795 5.4 %
Installment and student loans37,446 4.0 %42,247 4.6 %
Total loans$928,462 100.0 %$920,042 100.0 %
Schedule of Loans to Affiliates
Loans to directors, officers, principal shareholders and their affiliates are summarized below:
(In thousands)20242023
Aggregate amount outstanding, beginning of year$3,039 $3,610 
New loans or advances during year400 825 
Repayments during year(758)(1,396)
Aggregate amount outstanding, end of year$2,681 $3,039 
Undisbursed commitments, end of year$1,803 $1,525 
Summary of Amortized Cost of Delinquent Loans
The following is a summary of delinquent loans, net of unearned fees and loan origination costs, at December 31, 2024, (in thousands):
December 31, 2024Loans
30-60 Days Past Due
Loans
61-89 Days Past Due
Loans
90 or More
Days Past Due
Total Past Due LoansCurrent LoansTotal LoansAccruing
Loans 90 or
More Days Past Due
Commercial and business loans$— $— $— $— $63,653 $63,653 $— 
Government program loans— — — — 62 62 — 
Total commercial and industrial— — — — 63,715 63,715 — 
Commercial real estate loans— — — — 419,422 419,422 — 
Residential mortgages214 — — 214 247,034 247,248 — 
Home improvement and home equity loans— — — — 24 24 — 
Total real estate mortgage214 — — 214 666,480 666,694 — 
Real estate construction and development loans— — 12,185 12,185 98,960 111,145 — 
Agricultural loans— — — — 49,462 49,462 — 
Installment and student loans1,625 1,373 421 3,419 34,027 37,446 421 
Total loans$1,839 $1,373 $12,606 $15,818 $912,644 $928,462 $421 

The following is a summary of delinquent loans, net of unearned fees and loan origination costs, at December 31, 2023, (in thousands):
December 31, 2023Loans 30-60 Days Past DueLoans 61-89 Days Past DueLoans 90 or More Days Past DueTotal Past Due LoansCurrent LoansTotal LoansAccruing Loans 90 or More Days Past Due
Commercial and business loans$— $— $— $— $53,273 $53,273 $— 
Government program loans— — — — 74 74 — 
Total commercial and industrial— — — — 53,347 53,347 — 
Commercial real estate loans— — — — 386,134 386,134 — 
Residential mortgages— — — — 260,539 260,539 — 
Home improvement and home equity loans— — — — 36 36 — 
Total real estate mortgage— — — — 646,709 646,709 — 
Real estate construction and development loans— — 11,390 11,390 116,554 127,944 — 
Agricultural loans— — 45 45 49,750 49,795 — 
Installment and student loans791 328 426 1,545 40,702 42,247 426 
Total loans$791 $328 $11,861 $12,980 $907,062 $920,042 $426 
The following tables summarize the student loan aging for loans in repayment and forbearance as of December 31, 2024 and December 31, 2023:
 December 31, 2024December 31, 2023
 (Dollars in thousands)Number of BorrowersPrincipal AmountNumber of BorrowersPrincipal Amount
Current or less than 31 days185 $19,737 221 $25,070 
31 - 60 days1,625 791 
61 - 90 days1,360 328 
Greater than 90 days421 426 
Total203 $23,143 232 $26,615 
Schedule of Non-Accrual Loan Status and Loans Past Due Over 89 days Still Accruing
The following table presents the amortized costs of loans on nonaccrual status and accruing loans more than 90 days past due: December 31, 2024, and 2023:
December 31, 2024December 31, 2023
(In thousands)Nonaccrual Loans With No Allowance For Credit LossesTotal Nonaccrual LoansAccruing Loans 90 or More Days Past DueNonaccrual Loans With No Allowance For Credit LossesTotal Nonaccrual LoansAccruing Loans 90 or More Days Past Due
Real estate construction and development loans12,198 12,198 — 11,403 11,403 — 
Agricultural loans— — — — 45 — 
Installment and student loans— — 421 — — 426 
Total$12,198 $12,198 $421 $11,403 $11,448 $426 
Schedule of Credit Quality Indicators for Outstanding Student Loans
The following table presents loans by class, net of unearned fees and loan origination costs, by risk rating and period indicated as of December 31, 2024:
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2024
Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans
(In thousands)20242023202220212020PriorTotal
Commercial and business
Pass$2,374 $3,640 $2,076 $341 $408 $764 $29,349 $— $38,952 
Special Mention— 2,000 — — — — — — 2,000 
Substandard— — 68 — 6,989 — 15,644 — 22,701 
Total$2,374 $5,640 $2,144 $341 $7,397 $764 $44,993 $— $63,653 
Current period gross charge-offs
$— $— $— $— $— $— $— $— $— 
Government program
Pass$— $— $— $— $$60 $— $— $62 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$— $— $— $— $$60 $— $— $62 
Current period gross charge-offs
$— $— $— $— $— $— $— $— $— 
Commercial real estate
Pass$78,889 $32,794 $80,121 $31,376 $37,480 $151,066 $1,491 $— $413,217 
Special Mention— — — — 5,653 — — — 5,653 
Substandard— — — 552 — — — — 552 
Total$78,889 $32,794 $80,121 $31,928 $43,133 $151,066 $1,491 $— $419,422 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Residential mortgages
Not graded$— $— $23,929 $196,340 $2,480 $6,226 $— $— $228,975 
Pass4,824 3,969 1,926 4,320 1,580 1,654 — — 18,273 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$4,824 $3,969 $25,855 $200,660 $4,060 $7,880 $— $— $247,248 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Home improvement and home equity
Not graded$— $— $— $— $— $24 $— $— $24 
Pass— — — — — — — — — 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$— $— $— $— $— $24 $— $— $24 
Current period gross charge-offs
$— $— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2024
Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans
(In thousands)20242023202220212020PriorTotal
Real estate construction and development
Pass$13,761 $15,743 $8,004 $— $32,389 $2,473 $26,577 $— $98,947 
Special Mention— — — — — — — — — 
Substandard— — — — 3,524 8,674 — — 12,198 
Total$13,761 $15,743 $8,004 $— $35,913 $11,147 $26,577 $— $111,145 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Agricultural
Pass$3,097 $2,115 $3,990 $490 $2,861 $11,586 $22,705 $— $46,844 
Special Mention— — 1,503 — 440 285 — — 2,228 
Substandard— — — — — — 390 — 390 
Total$3,097 $2,115 $5,493 $490 $3,301 $11,871 $23,095 $— $49,462 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Installment and student loans
Not graded$440 $1,607 $103 $99 $$34,162 $606 $— $37,025 
Pass— — — — — — — — — 
Special Mention— — — — — — — — — 
Substandard— — — — — 421 — — 421 
Total$440 $1,607 $103 $99 $$34,583 $606 $— $37,446 
Current period gross charge-offs$— $20 $— $— $— $2,842 $— $— $2,862 
Total loans outstanding (risk rating):
Not graded$440 $1,607 $24,032 $196,439 $2,488 $40,412 $606 $— $266,024 
Pass102,945 58,261 96,117 36,527 74,720 167,603 80,122 — 616,295 
Special Mention— 2,000 1,503 — 6,093 285 — — 9,881 
Substandard— — 68 552 10,513 9,095 16,034 — 36,262 
Grand total loans$103,385 $61,868 $121,720 $233,518 $93,814 $217,395 $96,762 $— $928,462 
Current period gross charge-offs$— $20 $— $— $— $2,842 $— $— $2,862 
The following table presents loans by class, net of deferred fees, by risk rating and period indicated as of December 31, 2023:
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2023
Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans
(In thousands)20232022202120202019PriorTotal
Commercial and business
Pass$5,989 $5,066 $1,594 $810 $$939 $38,869 $— $53,273 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$5,989 $5,066 $1,594 $810 $$939 $38,869 $— $53,273 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Government program
Pass$— $— $— $$— $66 $— $— $74 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$— $— $— $$— $66 $— $— $74 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Commercial real estate
Pass$40,929 $81,823 $52,019 $39,155 $60,626 $105,285 $501 $— $380,338 
Special Mention— — — 5,796 — — — — 5,796 
Substandard— — — — — — — — — 
Total$40,929 $81,823 $52,019 $44,951 $60,626 $105,285 $501 $— $386,134 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Residential mortgages
Not graded$— $24,835 $206,257 $2,260 $— $8,969 $— $— $242,321 
Pass4,189 1,925 5,253 1,579 3,494 1,778 — — 18,218 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$4,189 $26,760 $211,510 $3,839 $3,494 $10,747 $— $— $260,539 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Home improvement and home equity
Not graded$— $— $— $— $— $32 $— $— $32 
Pass— — — — — — — 
Special Mention— — — — — — — — — 
Substandard— — — — — — — — — 
Total$— $— $— $— $— $36 $— $— $36 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Term Loans Amortized Cost Basis by Origination Year - As of December 31, 2023
Revolving Loans Amortized Cost BasisRevolving Loans Converted to Term Loans
(In thousands)20232022202120202019PriorTotal
Real estate construction and development
Pass$27,951 $9,571 $— $31,308 $— $3,978 $43,734 $— $116,542 
Special Mention— — — — — — — — — 
Substandard— — — 3,524 — 7,878 — — 11,402 
Total$27,951 $9,571 $— $34,832 $— $11,856 $43,734 $— $127,944 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Agricultural
Pass$2,086 $4,163 $457 $2,958 $1,592 $12,574 $22,556 $— $46,386 
Special Mention— 2,105 — 513 — 356 — — 2,974 
Substandard— — — — — 45 390 — 435 
Total$2,086 $6,268 $457 $3,471 $1,592 $12,975 $22,946 $— $49,795 
Current period gross charge-offs$— $— $— $— $— $— $— $— $— 
Installment and student loans
Not graded$708 $250 $142 $74 $483 $38,519 $472 $— $40,648 
Pass1,173 — — — — — — — 1,173 
Special Mention— — — — — — — — — 
Substandard— — — — — 426 — — 426 
Total$1,881 $250 $142 $74 $483 $38,945 $472 $— $42,247 
Current period gross charge-offs$— $— $— $— $— $2,588 $— $— $2,588 
Total loans outstanding (risk rating):
Not graded$708 $25,085 $206,399 $2,334 $483 $47,520 $472 $— $283,001 
Pass82,317 102,548 59,323 75,818 65,718 124,624 105,660 — 616,008 
Special Mention— 2,105 — 6,309 — 356 — — 8,770 
Substandard— — — 3,524 — 8,349 390 — 12,263 
Grand total loans$83,025 $129,738 $265,722 $87,985 $66,201 $180,849 $106,522 $— $920,042 
Current period gross charge-offs$— $— $— $— $— $2,588 $— $— $2,588 
The following tables summarize the credit quality indicators for outstanding student loans as of December 31, 2024 and December 31, 2023:
 December 31, 2024December 31, 2023
(Dollars in thousands)Number of LoansPrincipal AmountAccrued InterestNumber of LoansPrincipal AmountAccrued Interest
School26 $692 $512 44 $1,242 $734 
Grace100 63 18 473 296 
Repayment406 19,647 324 444 20,833 289 
Deferment219 9,954 2,593 237 10,163 2,022 
Forbearance65 3,496 133 98 5,782 133 
Total719 $33,889 $3,625 841 $38,493 $3,474 
Schedule of Allowance for Credit Loses by Loan Category
The following summarizes the activity in the allowance for credit losses by loan category for the years ended December 31, 2024, and 2023 (in thousands).
December 31, 2024Commercial and IndustrialReal Estate MortgageReal Estate Construction DevelopmentAgriculturalInstallment & Student LoansTotal
Beginning balance$1,903 $2,524 $3,614 $1,250 $6,367 $15,658 
Provision for (reversal of) credit losses (1)
935 104 (1,110)(222)3,312 3,019 
Charge-offs— — — — (2,862)(2,862)
Recoveries— — 224 231 
Ending balance$2,839 $2,634 $2,504 $1,028 $7,041 $16,046 
(1) Excludes a $56,000 reversal of provision for unfunded loan commitments during the year.
December 31, 2023Commercial and IndustrialReal Estate MortgageReal Estate Construction and DevelopmentAgriculturalInstallment & Student LoansUnallocatedTotal
Beginning balance$955 $1,363 $3,409 $525 $2,898 $1,032 $10,182 
CECL Adjustment1,336 2,359 720 1,025 1,959 (1,032)6,367 
Provision for (reversal of) credit losses (1)
(390)(1,253)(515)(300)3,888 — 1,430 
Charge-offs— — — — (2,588)— (2,588)
Recoveries55 — — 210 — 267 
Ending balance$1,903 $2,524 $3,614 $1,250 $6,367 $— $15,658 
(1) Excludes a $30,000 provision for unfunded loan commitments during the year.
Schedule of Financial Instruments Owned and Pledged as Collateral
The following table presents the recorded investment in collateral-dependent loans by type of loan:
 December 31, 2024December 31, 2023
(Dollars in thousands)AmountNumber of Collateral-Dependent LoansAmountNumber of Collateral-Dependent Loans
Real estate construction and development loans$12,185 $11,390 
Agricultural loans390 390 
Total$12,575 $11,780 
Schedule of Loan Modifications
The following tables present loan modifications made to borrowers experiencing financial difficulties for the period indicated:
December 31, 2024
(In thousands)Principal ForgivenessTerm ExtensionInterest Rate ReductionPayment DelayTotal % of Loans Outstanding
Commercial and business loans$— $6,989 $— $— 0.75%
The following table presents the financial effects of loan modifications made to borrower experiencing financial difficulties:

December 31, 2024
(In thousands)12 months term extension
Commercial and business loans6,989