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Loans (Tables)

12 Months Ended

Dec. 31, 2024

Loans

Major classifications of loans

(Dollars in thousands)
		December 31, 2024				December 31, 2023
Real estate loans:
Construction and land development		$	122,328				136,401
Single-family residential			384,509				372,825
Commercial			471,444				425,820
Multifamily and farmland			69,671				63,042
Total real estate loans			1,047,952				998,088
Loans not secured by real estate:
Commercial			63,837				70,544
Farm			401				550
Consumer			6,475				6,966
All other			19,739				16,918
Total loans			1,138,404				1,093,066
Less allowance for credit losses			(9,995	)			(11,041	)
Total net loans		$	1,128,409				1,082,025

Age analysis of past due loans, by loan type

December 31, 2024
(Dollars in thousands)
		Loans 30-89 Days Past Due				Nonaccrual Loans				Total Past Due Loans				Total Current Loans				Total Loans				Accruing Loans 90 or More Days Past Due
Real estate loans:
Construction and land development		$	131				37				168				122,160				122,328				-
Single-family residential			5,434				3,720				9,154				375,355				384,509				-
Commercial			87				426				513				470,931				471,444				-
Multifamily and farmland			-				-				-				69,671				69,671				-
Total real estate loans			5,652				4,183				9,835				1,038,117				1,047,952				-
Loans not secured by real estate:
Commercial			360				248				608				63,229				63,837				-
Farm			-				-				-				401				401				-
Consumer			33				9				42				6,433				6,475				-
All other			-				-				-				19,739				19,739				-
Total loans		$	6,045				4,440				10,485				1,127,919				1,138,404				-

December 31, 2023
(Dollars in thousands)
		Loans 30-89 Days Past Due				Nonaccrual Loans				Total Past Due Loans				Total Current Loans				Total Loans				Accruing Loans 90 or More Days Past Due
Real estate loans:
Construction and land development		$	5				45				50				136,351				136,401				-
Single-family residential			3,761				3,302				7,063				365,762				372,825				-
Commercial			13				-				13				425,807				425,820				-
Multifamily and farmland			-				76				76				62,966				63,042				-
Total real estate loans			3,779				3,423				7,202				990,886				998,088				-
Loans not secured by real estate:
Commercial			125				463				588				69,956				70,544				-
Farm			-				1				1				549				550				-
Consumer			63				-				63				6,903				6,966				-
All other			-				-				-				16,918				16,918				-
Total loans		$	3,967				3,887				7,854				1,085,212				1,093,066				-

Non-accrual loans

		December 31, 2024
		Nonaccrual Loans				Nonaccrual Loans				Total
		With No				With				Nonaccrual
(Dollars in thousands)		Allowance				Allowance				Loans
Real estate loans:
Construction and land development		$	37				-				37
Single-family residential			3,720				-				3,720
Commercial			426				-				426
Multifamily and farmland			-				-				-
Total real estate loans			4,183				-				4,183
Loans not secured by real estate:
Commercial			248				-				248
Consumer			9				-				9
Total		$	4,440				-				4,440

		December 31, 2023
		Nonaccrual Loans				Nonaccrual Loans				Total
		With No				With				Nonaccrual
(Dollars in thousands)		Allowance				Allowance				Loans
Real estate loans:
Construction and land development		$	45				-				45
Single-family residential			3,302				-				3,302
Multifamily and farmland			76				-				76
Total real estate loans			3,423				-				3,423
Loans not secured by real estate:
Commercial			31				432				463
Consumer			1				-				1
Total		$	3,455				432				3,887

Non-accrual loans not considered to be collateral dependent

		December 31, 2024
																		Financial Assets Not Considered
(Dollars in thousands)		Residential				Developed				Commercial				Business				Collateral
		Property				Land				Property				Assets				Dependent				Total
Real estate loans:
Construction and land development		$	-				37				-				-				-				37
Single-family residential			3,720				-				-				-				-				3,720
Commercial			-				-				426				-				-				426
Multifamily and farmland			-				-				-				-				-				-
Total real estate loans			3,720				37				426				-				-				4,183
Loans not secured by real estate:
Commercial			-				-				-				248				-				248
Consumer			-				-				-				-				9				9
Total		$	3,720				37				426				248				9				4,440
Collateral Value		$	9,648				88				944				272

		December 31, 2023
																		Financial Assets Not Considered
(Dollars in thousands)		Residential				Developed				Multifamily				Business				Collateral
		Property				Land				Property				Assets				Dependent				Total
Real estate loans:
Construction and land development		$	-				-				-				-				-				-
Single-family residential			-				-				-				-				-				-
Commercial			-				-				-				-				-				-
Multifamily and farmland			-				-				-				-				-				-
Total real estate loans			-				-				-				-				-				-
Loans not secured by real estate:
Commercial			-				-				-				350				82				432
Consumer			-				-				-				-				-				-
Total		$	-				-				-				350				82				432
Collateral Value		$	-				-				-				350

Accrued interest receivables written off

(Dollars in thousands)
		For the Year Ended				For the Year Ended
		December 31, 2024				December 31, 2023
Real estate loans:
Single-family residential		$	39				33
Commercial			9				-
Total real estate loans			48				33
Loans not secured by real estate:
Commercial			8				12
Consumer			2				1
Total		$	58				46

Amortized cost of collateral dependent loans

		December 31, 2024
						Allowance for
(Dollars in thousands)		Amortized Cost				Credit Losses
Real estate loans:
Construction and land development		$	37				-
Single-family residential			3,720				-
Commercial			426				-
Multifamily and farmland			-				-
Total real estate loans			4,183				-
Loans not secured by real estate:
Commercial			248				-
Consumer			-				-
Total		$	4,431				-

		December 31, 2023
						Allowance for
(Dollars in thousands)		Amortized Cost				Credit Losses
Real estate loans:
Construction and land development		$	-				-
Single-family residential			-				-
Commercial			-				-
Multifamily and farmland			-				-
Total real estate loans			-				-
Loans not secured by real estate:
Commercial			432				432
Consumer			-				-
Total		$	432				432

Loan disaggregation by its class and concession granted

(Dollars in thousands)

Amortized Cost Basis at December 31, 2024

% of Loan Class

Modification Type

Financial Effect

Loan class:

Single-family residential

$

229

0.06

%

Interest rate reduction and term extension

Adjustable rate loan converted to fixed rate loan and HELOC converted to amortizing term loan

Total

$

229

(Dollars in thousands)
		Amortized Cost Basis at December 31, 2023				% of Loan Class				Modification Type		Financial Effect
Loan class:
Single-family residential		$	149				0.04	%		Term extension		Forbearance agreement on matured home equity line of credit (HELOC) that was modified to 180 month term.
Commercial real estate			669				0.16	%		Term extension		Extended existing amortization from 148 months to 173 months to keep existing payment the same with the current market rate.
Commercial not secured by real estate			350				0.49	%		Term extension		Matured balloon loan converted to amortizing term loan.
Total		$	1,168

Performance of loans

December 31, 2024
(Dollars in thousands)
		Payment Status (Amortized Cost Basis)
		Current				30 - 89 Days Past Due				90 + Days Past Due
Loan type:
Single-family residential		$	229
Total		$	229				-				-

December 31, 2023
(Dollars in thousands)
		Payment Status (Amortized Cost Basis)
		Current				30 - 89 Days Past Due				90 + Days Past Due
Loan type:
Single-family residential		$	149				-				-
Commercial real estate			669				-				-
Commercial not secured by real estate			350
Total		$	1,168				-				-

Schedule Of Bank's impaired loans

December 31, 2022
(Dollars in thousands)
		Unpaid Contractual Principal Balance				Recorded Investment With No Allowance				Recorded Investment With Allowance				Recorded Investment in Impaired Loans				Related Allowance				Average Outstanding Impaired Loans				YTD Interest Income Recognized
Real estate loans:
Construction and land development		$	110				-				110				110				2				75				8
Single-family residential			14,353				236				13,048				13,284				671				13,951				746
Commercial			1,785				421				1,346				1,767				9				1,916				93
Multifamily and farmland			104				-				91				91				-				96				5
Total impaired real estate loans			16,352				657				14,595				15,252				682				16,038				852
Loans not secured by real estate:
Commercial			116				-				116				116				1				137				8
Consumer			11				-				9				9				-				15				2
Total impaired loans		$	16,479				657				14,720				15,377				683				16,190				862

Schedule Of allowance of credit losses

(Dollars in thousands)
		Real Estate Loans
		Construction and Land Development				Single-Family Residential				Commercial				Multifamily and Farmland				Commercial				Farm				Consumer and All Other				Total
Twelve months ended December 31, 2024
Allowance for credit losses:
Beginning balance		$	3,913				3,484				2,317				268				812				2				245				11,041
Charge-offs			-				(131	)			-				-				(1,134	)			-				(716	)			(1,981	)
Recoveries			-				129				202				-				55				-				165				551
Provision (recovery) for credit losses (1)			(528	)			(96	)			(197	)			(22	)			713				(1	)			515				384
Ending balance		$	3,385				3,386				2,322				246				446				1				209				9,995
Allowance for credit loss-loans		$	3,385				3,386				2,322				246				446				1				209				9,995
Allowance for credit loss unfunded loan commitments			1,096				3				-				-				-				-				2				1,101
Total allowance for credit losses		$	4,481				3,389				2,322				246				446				1				211				11,096
(1) Excludes provision for credit losses related to unfunded commitments. Note 11,"Commitments and Contingencies" in the consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments.

(Dollars in thousands)
		Real Estate Loans
		Construction and Land Development				Single-Family Residential				Commercial				Multifamily and Farmland				Commercial				Farm				Consumer and All Other				Unallocated				Total
Twelve months ended December 31, 2023
Allowance for credit losses:
Beginning balance		$	1,415				3,085				3,207				164				657				-				214				1,752				10,494
Adjustment for CECL implementation (1)			1,584				64				(986	)			115				(295	)			2				48				(1,752	)			(1,220	)
Charge-offs			-				-				-				-				(129	)			-				(569	)			-				(698	)
Recoveries			-				171				6				-				67				-				147				-				391
Provision (recovery) for credit losses (1)			914				164				90				(11	)			512				-				405				-				2,074
Ending balance		$	3,913				3,484				2,317				268				812				2				245				-				11,041
Allowance for credit loss-loans		$	3,913				3,484				2,317				268				812				2				245				-				11,041
Allowance for credit loss unfunded loan commitments			1,759				8				-				1				2				-				-				-				1,770
Total allowance for credit losses		$	5,672				3,492				2,317				269				814				2				245				-				12,811
(1) Excludes provision for credit losses related to unfunded commitments. Note 11,"Commitments and Contingencies" in the consolidated financial statements provides more detail concerning the provision for credit losses related to unfunded commitments.

(Dollars in thousands)
		Real Estate Loans
		Construction and Land Development				Single-Family Residential				Commercial				Multifamily and Farmland				Commercial				Farm				Consumer and All Other				Unallocated				Total
Twelve months ended December 31, 2022
Allowance for loan losses:
Beginning balance		$	1,193				2,877				2,234				150				711				-				110				2,080				9,355
Charge-offs			-				(128	)			-				-				(33	)			-				(591	)			-				(752	)
Recoveries			-				229				9				-				72				-				109				-				419
Provision			222				107				964				14				(93	)			-				586				(328	)			1,472
Ending balance		$	1,415				3,085				3,207				164				657				-				214				1,752				10,494
Allowance for loan losses December 31, 2022
Ending balance: individually evaluated for impairment		$	-				633				6				-				-				-				-				-				639
Ending balance: collectively evaluated for impairment			1,415				2,452				3,201				164				657				-				214				1,752				9,855
Ending balance		$	1,415				3,085				3,207				164				657				-				214				1,752				10,494
Loans at December 31, 2022
Ending balance		$	114,446				342,281				406,750				65,562				81,307				938				21,324				-				1,032,608
Ending balance: individually evaluated for impairment		$	-				9,092				1,388				-				-				-				-				-				10,480
Ending balance: collectively evaluated for impairment		$	114,446				333,189				405,362				65,562				81,307				938				21,324				-				1,022,128

Schedule of credit quality indicator and amortized cost of bank's loan

		Term Loans by Origination Year																												Revolving
																														Loans
(dollars in thousands)																										Revolving				Converted to				Total
		2024				2023				2022				2021				2020				Prior				Loans				Term Loans				Loans
December 31, 2024
Real Estate Loans
Construction and land
development
Pass		$	41,171				29,503				34,495				6,836				5,792				4,020				-				-				121,817
Watch			-				-				-				443				-				-				-				-				443
Substandard			-				-				-				-				-				68				-				-				68
Total Construction and
land development		$	41,171				29,503				34,495				7,279				5,792				4,088				-				-				122,328
Single family
Pass		$	22,169				35,865				73,663				43,900				22,363				66,074				113,067				-				377,101
Watch			-				-				-				-				-				1,469				993				-				2,462
Substandard			-				31				1,000				-				124				3,467				324				-				4,946
Total single family		$	22,169				35,896				74,663				43,900				22,487				71,010				114,384				-				384,509
Commercial
Pass		$	56,411				46,589				135,881				71,066				58,223				97,122				2,296				-				467,588
Watch			-				-				-				-				87				2,943				-				-				3,030
Substandard			-				-				-				-				400				426				-				-				826
Total commercial		$	56,411				46,589				135,881				71,066				58,710				100,491				2,296				-				471,444
Multifamily and farmland
Pass		$	998				8,455				20,786				20,638				6,055				12,186				443				-				69,561
Watch			-				-				-				-				-				43				-				-				43
Substandard			-				-				-				-				-				67				-				-				67
Total multifamily and
farmland		$	998				8,455				20,786				20,638				6,055				12,296				443				-				69,671
Total real estate loans		$	120,749				120,443				265,825				142,883				93,044				187,885				117,123				-				1,047,952
Loans not secured by real estate
Commercial
Pass		$	9,153				11,335				6,045				3,107				1,707				11,864				20,032				-				63,243
Watch			-				-				136				19				23				167				1				-				346
Substandard			-				25				223				-				-				-				-				-				248
Total Commercial		$	9,153				11,360				6,404				3,126				1,730				12,031				20,033				-				63,837
Farm
Pass		$	53				195				17				50				-				-				86				-				401
Watch			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Total farm		$	53				195				17				50				-				-				86				-				401
Consumer
Pass		$	1,777				1,232				666				176				99				64				2,397				-				6,411
Watch			-				-				53				-				-				-				-				-				53
Substandard			-				-				-				-				-				8				3				-				11
Total consumer		$	1,777				1,232				719				176				99				72				2,400				-				6,475
All other
Pass		$	972				-				10,002				376				217				2,878				5,164				-				19,609
Watch			-				-				-				-				-				130				-				-				130
Substandard			-				-				-				-				-				-				-				-				-
Total all other		$	972				-				10,002				376				217				3,008				5,164				-				19,739
Total loans not secured
by real estate		$	11,955				12,787				17,142				3,728				2,046				15,111				27,683				-				90,452
Total loans		$	132,704				133,230				282,967				146,611				95,090				202,996				144,806				-				1,138,404

		Term Loans by Origination Year																												Revolving
																														Loans
(dollars in thousands)																										Revolving				Converted to				Total
		2023				2022				2021				2020				2019				Prior				Loans				Term Loans				Loans
December 31, 2023
Real Estate Loans
Construction and land
development
Pass		$	40,034				71,429				10,736				6,692				1,721				3,914				1,337				-				135,863
Watch			-				-				448				-				-				-				-				-				448
Substandard			-				-				-				-				-				90				-				-				90
Total Construction and
land development		$	40,034				71,429				11,184				6,692				1,721				4,004				1,337				-				136,401
Single family
Pass		$	32,333				76,326				47,490				24,813				12,984				64,847				106,962				-				365,755
Watch			-				-				-				-				89				1,389				860				-				2,338
Substandard			-				-				-				-				11				4,342				379				-				4,732
Total single family		$	32,333				76,326				47,490				24,813				13,084				70,578				108,201				-				372,825
Commercial
Pass		$	45,755				109,255				78,645				61,973				29,579				92,753				2,158				-				420,118
Watch			232				-				-				116				-				4,943				-				-				5,291
Substandard			-				-				-				411				-				-				-				-				411
Total commercial		$	45,987				109,255				78,645				62,500				29,579				97,696				2,158				-				425,820
Multifamily and farmland
Pass		$	7,987				13,286				21,512				6,624				3,158				9,851				501				-				62,919
Watch			-				-				-				-				-				47				-				-				47
Substandard			-				-				-				-				-				76				-				-				76
Total multifamily and
farmland		$	7,987				13,286				21,512				6,624				3,158				9,974				501				-				63,042
Total real estate loans		$	126,341				270,296				158,831				100,629				47,542				182,252				112,197				-				998,088
Loans not secured by real estate
Commercial
Pass		$	9,561				14,122				4,841				2,942				2,232				12,030				23,411				-				69,139
Watch			-				-				-				-				57				102				783				-				942
Substandard			31				-				-				-				-				-				-				-				31
Loss			-				82				-				-				-				-				350								432
Total Commercial		$	9,592				14,204				4,841				2,942				2,289				12,132				24,544				-				70,544
Farm
Pass		$	198				42				83				-				1				27				199				-				550
Watch			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Total farm		$	198				42				83				-				1				27				199				-				550
Consumer
Pass		$	2,262				1,352				404				222				72				58				2,591				-				6,961
Watch			-				-				-				-				-				-				-				-				-
Substandard			-				-				2				-				-				-				3				-				5
Total consumer		$	2,262				1,352				406				222				72				58				2,594				-				6,966
All other
Pass		$	79				6,401				474				274				599				3,698				5,256				-				16,781
Watch			-				-				-				-				-				74				63				-				137
Substandard			-				-				-				-				-				-				-				-				-
Total all other		$	79				6,401				474				274				599				3,772				5,319				-				16,918
Total loans not secured
by real estate		$	12,131				21,999				5,804				3,438				2,961				15,989				32,656				-				94,978
Total loans		$	138,472				292,295				164,635				104,067				50,503				198,241				144,853				-				1,093,066

Schedule of credit quality indicator gross loan charge off

December 31, 2024		Gross Loan Charge-offs by Origination Year																												Revolving
																														Loans
(dollars in thousands)																										Revolving				Converted to				Total
		2024				2023				2022				2021				2020				Prior				Loans				Term Loans				Loans
Real estate loans:
Construction and land development		$	-				-				-				-				-				-				-				-				-
Single-family residential			-				-				126				-				-				6				-				-				132
Commercial			-				-				-				-				-				-				-				-				-
Multifamily and farmland			-				-				-				-				-				-				-				-				-
Total real estate loans			-				-				126				-				-				6				-				-				132
Loans not secured by real estate:
Commercial			-				447				397				74				179				36				-				-				1,133
Consumer			5				37				9				-				1				557				-				-				609
All other			-				-				-				-				-				107				-				-				107
Total gross charge-offs		$	5				484				532				74				180				706				-				-				1,981

December 31, 2023		Gross Loan Charge-offs by Origination Year																												Revolving
																														Loans
(dollars in thousands)																										Revolving				Converted to				Total
		2023				2022				2021				2020				2019				Prior				Loans				Term Loans				Loans
Real estate loans:
Construction and land development		$	-				-				-				-				-				-				-				-				-
Single-family residential			-				-				-				-				-				-				-				-				-
Commercial			-				-				-				-				-				-				-				-				-
Multifamily and farmland			-				-				-				-				-				-				-				-				-
Total real estate loans			-				-				-				-				-				-				-				-				-
Loans not secured by real estate:
Commercial			-				49				51				16				-				13				-				-				129
Farm			-				-				-				-				-				-				-				-				-
Consumer			-				41				53				6				1				468				-				-				569
All other			-				-				-				-				-				-				-				-				-
Total gross charge-offs		$	-				90				104				22				1				481				-				-				698

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