Loans And Leases (Tables)

3 Months Ended

Mar. 31, 2024

Recorded Investment In Loans By Portfolio Segment




	March 31, 2024		December 31, 2023
	(unaudited)
Commercial ⁽¹⁾	$	430,549	$	439,895
Real estate:
Single-family residential		475,181		478,224
Multi-family residential		128,779		130,778
Commercial		461,826		433,026
Construction		178,398		190,722
Consumer:
Home equity lines of credit		36,079		35,960
Other		3,117		2,393
Subtotal		1,713,929		1,710,998
Less: ACL – Loans		(18,198)		(16,865)
Loans and leases, net	$	1,695,731	$	1,694,133

⁽¹⁾Includes $11,892 and $13,497 of commercial leases at March 31, 2024 and December 31, 2023, respectively.

Activity In ALLL By Portfolio Segment


	Three Months Ended March 31, 2024 (unaudited)
			Real Estate									Consumer
	Commercial		Single-family		Multi-family		Commercial		Construction		Home equity lines of credit		Other		Total
Allowance for credit losses
Balances, January 1, 2024	$	5,884		3,371		1,231		4,105		1,707		334		233		16,865
Provision of credit losses		1,628		(48)		(84)		193		(428)		(1)		57		1,317
Recoveries on loans		6		8		-		-		-		2		-		16
Loans charged off		-		-		-		-		-		-		-		-
Balances, March 31, 2024	$	7,518	$	3,331	$	1,147	$	4,298	$	1,279	$	335	$	290	$	18,198

‎


	Three Months Ended March 31, 2023 (unaudited)
			Real Estate									Consumer
	Commercial		Single-family		Multi-family		Commercial		Construction		Home equity lines of credit		Other		Total

Allowance for credit losses
Balances, December 31, 2022	$	4,764	$	3,914	$	997	$	3,384	$	2,644	$	333	$	26	$	16,062
Impact of adoption of ASC 326		877		(958)		66		726		(1,019)		(129)		28		(409)
Balances, January 1, 2023 Post-ASC 326 adoption		5,641		2,956		1,063		4,110		1,625		204		54		15,653
Provision of credit losses		(198)		235		(18)		13		54		127		54		267
Recoveries on loans		-		3		-		-		-		-		-		3
Loans charged off		(5)		-		-		-		-		-		(3)		(8)
Balances, March 31, 2023	$	5,438	$	3,194	$	1,045	$	4,123	$	1,679	$	331	$	105	$	15,915

Schedule Of Collateral-Dependent Loans By Loan Segment


	March 31, 2024 (unaudited)
	Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial	$	-	$	3,434	$	3,434	$	2,099
Real estate:
Single-family residential		89		-		89		-
Total	$	89	$	3,434	$	3,523	$	2,099


	December 31, 2023
	Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial	$	-	$	449	$	449	$	44
Real estate:
Single-family residential		90		-		90		-
Total	$	90	$	449	$	539	$	44

Recorded Investment In Nonaccrual and Nonperforming Loans By Class Of Loans

The following table presents the recorded investment in non-accrual loans by class of loans at March 31, 2024 (unaudited):



	Non-Accrual Loans		Non-Accrual loans with no Allowance for Credit Losses
Commercial	$	6,603	$	235
Real estate:
Single-family residential		995		995
Consumer:
Home equity lines of credit:		16		16
Other consumer		281		281
Total nonaccrual loans	$	7,895	$	1,527

The following table presents the recorded investment in non-accrual loans by class of loans at December 31, 2023.


	Non-Accrual Loans		Non-Accrual loans with no Allowance for Credit Losses
Commercial	$	5,048	$	1,658
Real estate:
Single-family residential		627		627
Consumer:
Home equity lines of credit:		17		17
Other consumer		30		30
Total nonaccrual loans	$	5,722	$	2,332

Aging Of Recorded Investment In Past Due Loans By Class Of Loans

The following table presents the aging of the recorded investment in past due loans and leases by class of loans as of March 31, 2024 (unaudited):


	30 - 59 Days Past Due		60 - 89 Days Past Due		90 Days or more Past Due		Total Past Due		Loans Not Past Due		Nonaccrual Loans Not 90 days or more Past Due
Commercial	$	376	$	-	$	3,669	$	4,045	$	426,504	$	2,934
Real estate:
Single-family residential		-		-		936		936		474,245		59
Multi-family residential		-		-		-		-		128,779		-
Commercial:
Non-owner occupied		-		-		-		-		249,688		-
Owner occupied		-		-		-		-		195,858		-
Land		-		-		-		-		16,280		-
Construction		-		-		-		-		178,398		-
Consumer:
Home equity lines of credit:		4		80		16		100		35,979		-
Other		-		251		30		281		2,836		251
Total	$	380	$	331	$	4,651	$	5,362	$	1,708,567	$	3,244

The following table presents the aging of the recorded investment in past due loans and leases by class of loans as of 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		Nonaccrual Loans Not 90 days or more Past Due
Commercial	$	98	$	-	$	622	$	720	$	439,175	$	4,426
Real estate:
Single-family residential		165		372		563		1,100		477,124		64
Multi-family residential		-		-		-		-		130,778		-
Commercial:
Non-owner occupied		-		-		-		-		228,548		-
Owner occupied		-		-		-		-		183,773		-
Land		-		-		-		-		20,705		-
Construction		-		-		-		-		190,722		-
Consumer:
Home equity lines of credit:
Originated for portfolio		97		-		17		114		35,846		-
Purchased for portfolio		-		-		-		-		-		-
Other		-		-		30		30		2,363		-
Total	$	360	$	372	$	1,232	$	1,964	$	1,709,034	$	4,490

Recorded Investment In Loans By Risk Category And Class Of Loans

The following table summarizes the risk grading of the Company’s loan portfolio by loan class and by year of origination for the years indicated as of March 31, 2024. Consumer and Single-family residential loans are not risk graded. For purposes of this disclosure, those loans are classified in the following manner: loans that are 89 days or less past due and accruing are “performing” loans and loans greater than 89 days past due or in nonaccrual are “nonperforming” loans.


	Term Loans (amortized cost basis by origination year)
(unaudited)	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Commercial
Pass	$	5,747	$	32,481	$	85,273	$	87,262	$	44,919	$	12,724	$	148,832	$	484	$	417,722
Special Mention		-		-		-		2,800		-		84		-		-		2,884
Substandard		-		-		385		7,560		-		-		50		1,500		9,495
Doubtful		-		-		448		-		-		-		-		-		448
Total Commercial		5,747		32,481		86,106		97,622		44,919		12,808		148,882		1,984		430,549
Real estate loans:
Single-family residential
Payment performance
Performing		3,575		40,235		129,604		230,204		45,000		25,568		-		-		474,186
Nonperforming		-		-		372		-		-		623		-		-		995
Total Single-family residential loans		3,575		40,235		129,976		230,204		45,000		26,191		-		-		475,181
Multi-family residential
Pass		-		24,833		8,750		52,209		7,283		35,704		-		-		128,779
Total Multi-family residential loans		-		24,833		8,750		52,209		7,283		35,704		-		-		128,779
Commercial:
Non-owner occupied
Pass		11,136		54,975		33,976		69,310		14,866		64,920		-		-		249,183
Special Mention		-		-		-		-		-		505		-		-		505
Total Non-owner occupied loans		11,136		54,975		33,976		69,310		14,866		65,425		-		-		249,688
Owner occupied
Pass		3,488		22,404		63,456		49,091		19,570		37,170		-		-		195,179
Special Mention		-		-		-		-		-		679		-		-		679
Total Owner occupied loans		3,488		22,404		63,456		49,091		19,570		37,849		-		-		195,858
Land
Pass		2,791		5,646		1,564		5,723		-		556		-		-		16,280
Total Land loans		2,791		5,646		1,564		5,723		-		556		-		-		16,280
Construction
Pass		5,776		37,213		71,024		60,755		3,630		-		-		-		178,398
Total Construction loans		5,776		37,213		71,024		60,755		3,630		-		-		-		178,398
Total Real Estate loans		26,766		185,306		308,746		467,292		90,349		165,725		-		-		1,244,184
Consumer:
Home equity lines of credit:
Payment performance
Performing		-		-		-		-		-		-		33,377		2,686		36,063
Nonperforming		-		-		-		-		-		-		-		16		16
Total Home equity lines of credit		-		-		-		-		-		-		33,377		2,702		36,079
Other
Payment performance																		-
Performing		-		-		-		-		10		211		2,615		-		2,836
Nonperforming		-		-		-		-		-		-		281		-		281
Total Other consumer loans		-		-		-		-		10		211		2,896		-		3,117
Total loans	$	32,513	$	217,787	$	394,852	$	564,914	$	135,278	$	178,744	$	185,155	$	4,686	$	1,713,929
Total current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

‎

The following table summarizes the risk grading of the Company’s loan portfolio by loan class and by year of origination for the years indicated as of December 31, 2023. Consumer and Single-family residential loans are not risk graded. For purposes of this disclosure, those loans are classified in the following manner: loans that are 89 days or less past due and accruing are “performing” loans and loans greater than 89 days past due or in nonaccrual are “nonperforming” loans.


	Term Loans (amortized cost basis by origination year)
	2023		2022		2021		2020		2019		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total

Commercial
Pass	$	32,965	$	86,433	$	90,297	$	45,670	$	3,189	$	9,888	$	159,065	$	1,078	$	428,585
Special Mention		-		-		2,807		-		84		-		-		-		2,891
Substandard		-		384		7,537		-		-		-		50		-		7,971
Doubtful		-		448		-		-		-		-		-		-		448
Total Commercial		32,965		87,265		100,641		45,670		3,273		9,888		159,115		1,078		439,895
Current period gross charge-offs		-		564		211		-		-		-		-		-		775
Real estate loans:
Single-family residential
Payment performance
Performing		42,655		131,416		231,379		45,785		9,584		16,778		-		-		477,597
Nonperforming		-		-		-		-		-		627		-		-		627
Total Single-family residential loans		42,655		131,416		231,379		45,785		9,584		17,405		-		-		478,224
Multi-family residential
Pass		24,839		8,776		53,815		7,311		15,772		20,265		-		-		130,778
Total Multi-family residential loans		24,839		8,776		53,815		7,311		15,772		20,265		-		-		130,778
Commercial:
Non-owner occupied
Pass		57,092		27,068		61,990		15,085		20,101		45,725		982		-		228,043
Special Mention		-		-		-		-		505		-		-		-		505
Total Non-owner occupied loans		57,092		27,068		61,990		15,085		20,606		45,725		982		-		228,548
Owner occupied
Pass		20,353		55,169		50,210		19,775		18,751		18,768		68		-		183,094
Special Mention		-		-		-		-		679		-		-		-		679
Total Owner occupied loans		20,353		55,169		50,210		19,775		19,430		18,768		68		-		183,773
Land
Pass		7,932		6,037		6,177		-		149		410		-		-		20,705
Total Land loans		7,932		6,037		6,177		-		149		410		-		-		20,705
Construction
Pass		31,739		78,602		61,435		4,174		-		-		14,772		-		190,722
Total Construction loans		31,739		78,602		61,435		4,174		-		-		14,772		-		190,722
Total Real Estate loans		184,610		307,068		465,006		92,130		65,541		102,573		15,822		-		1,232,750
Consumer:
Home equity lines of credit:
Payment performance
Performing		-		-		-		-		-		-		33,510		2,433		35,943
Nonperforming		-		-		-		-		-		-		-		17		17
Total Home equity lines of credit		-		-		-		-		-		-		33,510		2,450		35,960
Other
Payment performance
Performing		-		-		-		12		-		216		2,135		-		2,363
Nonperforming		-		-		-		-		-		-		-		30		30
Total Other consumer loans		-		-		-		12		-		216		2,135		30		2,393
Current period gross charge-offs		-		-		-		-		-		3		-		-		3
Total loans	$	217,575	$	394,333	$	565,647	$	137,812	$	68,814	$	112,677	$	210,582	$	3,558	$	1,710,998
Total current period gross charge-offs	$	-	$	564	$	211	$	-	$	-	$	3	$	-	$	-	$	778

Components Of Net Investment In Direct Financing Leases


	March 31, 2024		December 31, 2023
	(unaudited)
Total minimum lease payments to be received	$	12,587	$	14,343
Less: Unearned income		(709)		(863)
Plus: Indirect initial costs		14		17
Net investment in direct financing leases	$	11,892	$	13,497

Summary Of Future Minimum Lease Payments Receivable


2024, excluding the three months ended March 31, 2024	$	4,277
2025		5,015
2026		2,703
2027		543
2028		49
Thereafter		-
Total future minimum payments	$	12,587