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Loans And Leases (Tables)

9 Months Ended

Sep. 30, 2025

Loans And Leases [Abstract]

Recorded Investment In Loans By Portfolio Segment

The following table presents the recorded investment in loans and leases by portfolio segment. The recorded investment in loans and leases includes the principal balance outstanding adjusted for purchase premiums and discounts, and deferred loan fees and costs.


	September 30, 2025					December 31, 2024
	(unaudited)
Commercial (1)	$		386,653			$		418,804
Real estate:
Single-family residential			430,115					465,517
Multi-family residential			167,663					150,434
Commercial			514,394					460,064
Construction			199,334					202,166
Consumer:
Home equity lines of credit			43,304					39,520
Other			3,662					2,988
Subtotal			1,745,125					1,739,493
Less: ACL – Loans			(16,841	)				(17,474	)
Loans and leases, net	$		1,728,284			$		1,722,019

(1)

Includes $3,805 and $7,680 of commercial leases at September 30, 2025 and December 31, 2024, respectively.

Activity In ALLL By Portfolio Segment

The following tables present the activity in the ACL - Loans by portfolio segment for the three and nine months ended September 30, 2025 and 2024 (unaudited).


		Three Months Ended September 30, 2025 (unaudited)
					Real Estate													Consumer
		Commercial			Single- family			Multi- family			Commercial			Construction			Home equity lines of credit			Other			Total

Allowance for credit losses
Balances, July 1, 2025		$	9,126		$	2,360		$	1,061		$	3,868		$	1,996		$	384		$	327		$	19,122
Provision (reversal) for credit losses			4,189			154			29			478			(57)			18			7			4,818
Recoveries on loans			41			8			—			—			—			—			—			49
Loans charged off			(7,148)			—			—			—			—			—			—			(7,148)
Balances, September 30, 2025		$	6,208		$	2,522		$	1,090		$	4,346		$	1,939		$	402		$	334		$	16,841


		Nine Months Ended September 30, 2025 (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, 2025		$		7,005			$		2,787			$		1,382			$		3,918			$		1,741			$		371			$		270			$		17,474
Provision (reversal) for credit losses				6,377					(265	)				(292	)				428					198					30					64					6,540
Recoveries on loans				106					27					—					—					—					1					—					134
Loans charged off				(7,280	)				(27	)				—					—					—					—					—					(7,307	)
Balances, September 30, 2025		$		6,208			$		2,522			$		1,090			$		4,346			$		1,939			$		402			$		334			$		16,841


		Three Months Ended September 30, 2024 (unaudited)
					Real Estate													Consumer
		Commercial			Single-family			Multi-family			Commercial			Construction			Home equity lines of credit			Other			Total

Allowance for credit losses
Balances, July 1, 2024		$	8,756		$	3,306		$	1,015		$	4,288		$	1,236		$	383		$	301		$	19,285
Provision (reversal) for credit losses			574			(213)			499			(166)			74			12			6			786
Recoveries on loans			30			8			—			—			—			1			—			39
Loans charged off			(3,300)			—			—			—			—			—			(30)			(3,330)
Balances, September 30, 2024		$	6,060		$	3,101		$	1,514		$	4,122		$	1,310		$	396		$	277		$	16,780


		Nine Months Ended September 30, 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 (reversal) for credit losses				5,307					(293	)				283					17					(397	)				57					324					5,298
Recoveries on loans				42					23					—					—					—					5					—					70
Loans charged off				(5,173	)				—					—					—					—					—					(280	)				(5,453	)
Balances, September 30, 2024		$		6,060			$		3,101			$		1,514			$		4,122			$		1,310			$		396			$		277			$		16,780

Schedule Of Collateral-Dependent Loans By Loan Segment

The tables below present the amortized cost basis of collateral dependent loans by loan class and their respective collateral types, which are individually evaluated to determine expected credit losses.


	September 30, 2025 (unaudited)
	Residential Real Estate					Other					Total					Allowance on Collateral Dependent Loans
Commercial	$		—			$		3,181			$		3,181			$		1,296
Real estate:
Single-family residential			81					—					81					—
Commercial:
Owner occupied			—					694					694					306
Total	$		81			$		3,875			$		3,956			$		1,602


	December 31, 2024
	Residential Real Estate					Other					Total					Allowance on Collateral Dependent Loans
Commercial	$		—			$		8,486			$		8,486			$		1,397
Real estate:
Single-family residential			86					—					86					—
Total	$		86			$		8,486			$		8,572			$		1,397

Recorded Investment In Nonaccrual and Nonperforming Loans By Class Of Loans

The following table presents the recorded investment in nonaccrual loans by class of loans at September 30, 2025 (unaudited):


	Nonaccrual Loans					Nonaccrual Loans with no Allowance for Credit Losses
Commercial	$		7,896			$		669
Real estate:
Single-family residential			1,343					1,343
Commercial:
Owner occupied			694					-
Consumer:
Home equity lines of credit			101					101
Total nonaccrual loans	$		10,034			$		2,113

The following table presents the recorded investment in nonaccrual loans by class of loans at December 31, 2024.


	Non-Accrual Loans					Non-Accrual Loans with no Allowance for Credit Losses
Commercial	$		12,876			$		135
Real estate:
Single-family residential			1,649					1,649
Consumer:
Home equity lines of credit			13					13
Total nonaccrual loans	$		14,538			$		1,797

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 September 30, 2025 (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	$		122			$		145			$		3,421			$		3,688			$		382,965			$		4,475
Real estate:
Single-family residential			—					—					1,191					1,191					428,924					152
Multi-family residential			—					—					—					—					167,663					—
Commercial:
Non-owner occupied			—					—					—					—					264,269					—
Owner occupied			—					—					694					694					207,390					—
Land			—					—					—					—					42,041					—
Construction			—					—					—					—					199,334					—
Consumer:
Home equity lines of credit			—					—					—					-					43,304					101
Other			—					—					—					—					3,662					—
Total	$		122			$		145			$		5,306			$		5,573			$		1,739,552			$		4,728

The following table presents the aging of the recorded investment in past due loans and leases by class of loans as of December 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					Nonaccrual Loans Not 90 days or more Past Due
Commercial	$		3,231			$		202			$		5,948			$		9,381			$		409,423			$		7,256
Real estate:
Single-family residential			1,112					—					1,649					2,761					462,756					—
Multi-family residential			—					—					—					—					150,434					—
Commercial:
Non-owner occupied			—					—					—					—					229,831					—
Owner occupied			—					—					181					181					205,030					—
Land			—					—					—					—					25,022					—
Construction			—					—					—					—					202,166					—
Consumer:
Home equity lines of credit:
Originated for portfolio			—					—					—					—					—					—
Purchased for portfolio			—					109					—					109					39,411					13
Other			41					—					—					41					2,947					—
Total	$		4,384			$		311			$		7,778			$		12,473			$		1,727,020			$		7,269

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 September 30, 2025. 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)	2025			2024			2023			2022			2021			Prior			Revolving loans amortized cost basis			Revolving loans converted to term			Total
Commercial
Pass	$	46,074		$	29,479		$	23,040		$	48,089		$	64,296		$	42,987		$	115,072		$	3,255		$	372,292
Special Mention		—			—			89			5,000			56			2,847			—			—			7,992
Substandard		—			1,328			49			—			4,142			415			50			—			5,984
Doubtful		—			—			—			385			—			—			—			—			385
Total Commercial		46,074			30,807			23,178			53,474			68,494			46,249			115,122			3,255			386,653
Gross charge-offs during the nine months ended September 30, 2025		—			—			—			7,118			162			—			—			—			7,280
Real estate loans:
Single-family residential
Payment performance
Performing		9,326			29,695			26,077			105,683			204,635			53,356			—			—			428,772
Nonperforming		—			—			—			257			370			716			—			—			1,343
Total Single-family residential loans		9,326			29,695			26,077			105,940			205,005			54,072			—			—			430,115
Gross charge-offs during the nine months ended September 30, 2025		—			—			27			—			—			—			—			—			27
Multi-family residential
Pass		2,673			27,229			31,825			28,656			47,022			21,567			—			—			158,972
Special Mention																	8,691									8,691
Total Multi-family residential loans		2,673			27,229			31,825			28,656			47,022			30,258			—			—			167,663
Commercial:
Non-owner occupied
Pass		51,946			8,240			44,251			38,514			64,391			56,927			—			—			264,269
Total Non-owner occupied loans		51,946			8,240			44,251			38,514			64,391			56,927			—			—			264,269
Owner occupied
Pass		20,112			18,079			41,345			45,026			40,369			41,780			—			—			206,711
Substandard		—			—			—			694			—			679			—			—			1,373
Total Owner occupied loans		20,112			18,079			41,345			45,720			40,369			42,459			—			—			208,084
Land
Pass		13,323			21,013			3,195			—			4,510			—			—			—			42,041
Total Land loans		13,323			21,013			3,195			—			4,510			—			—			—			42,041
Construction
Not Rated		386			—			—			—			—			—			—			—			386
Pass		20,091			86,300			60,589			27,748			4,220			—			—			—			198,948
Total Construction loans		20,477			86,300			60,589			27,748			4,220			—			—			—			199,334
Total Real Estate loans		117,857			190,556			207,282			246,578			365,517			183,716			—			—			1,311,506
Consumer:
Home equity lines of credit:
Payment performance
Performing		—			—			—			—			—			—			42,144			1,059			43,203
Nonperforming		—			—			—			—			—			—			90			11			101
Total Home equity lines of credit		—			—			—			—			—			—			42,234			1,070			43,304
Other
Performing		—			474			—			—			—			138			3,050			—			3,662
Total Other consumer loans		—			474			—			—			—			138			3,050			—			3,662
Total loans	$	163,931		$	221,837		$	230,460		$	300,052		$	434,011		$	230,103		$	160,406		$	4,325		$	1,745,125
Total gross charge-offs during the nine months ended September 30, 2025	$	—		$	—		$	27		$	7,118		$	162		$	—		$	—		$	—		$	7,307

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, 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.


	Term Loans (amortized cost basis by origination year)
	2024			2023			2022			2021			2020			Prior			Revolving loans amortized cost basis			Revolving loans converted to term			Total
Commercial
Pass	$	39,955		$	26,619		$	67,069		$	82,579		$	43,556		$	8,224		$	132,853		$	—		$	400,855
Special Mention		—			—			285			—			—			2,922			2,966			—			6,173
Substandard		—			—			7,085			4,256			—			—			50			—			11,391
Doubtful		—			—			385			—			—			—			—			—			385
Total Commercial		39,955			26,619			74,824			86,835			43,556			11,146			135,869			—			418,804
Gross charge-offs for the year ended December 31, 2024		—			—			1,755			3,568			—			—			—			—			5,323
Real estate loans:
Single-family residential
Payment performance
Performing		29,278			33,749			121,984			215,330			42,272			21,255			—			—			463,868
Nonperforming		—			547			371			168			—			563			—			—			1,649
Total Single-family residential loans		29,278			34,296			122,355			215,498			42,272			21,818			—			—			465,517
Multi-family residential
Pass		30,570			24,798			7,628			49,647			2,520			26,424			—			—			141,587
Special Mention														4,252			4,595									8,847
Total Multi-family residential loans		30,570			24,798			7,628			49,647			6,772			31,019			—			—			150,434
Commercial:
Non-owner occupied
Pass		10,169			49,053			33,204			67,360			14,019			52,679			—			—			226,484
Special Mention		—			—			—			—			—			2,842			—			—			2,842
Substandard		—			—			—			—			—			505			—			—			505
Total Non-owner occupied loans		10,169			49,053			33,204			67,360			14,019			56,026			—			—			229,831
Owner occupied
Pass		18,424			42,191			51,788			47,174			17,707			26,659			—			—			203,943
Special Mention		—			—			—			—			589			—			—			—			589
Substandard		—			—			—			—			—			679			—			—			679
Total Owner occupied loans		18,424			42,191			51,788			47,174			18,296			27,338			—			—			205,211
Land
Pass		16,853			3,190			—			4,979			—			—			—			—			25,022
Total Land loans		16,853			3,190			—			4,979			—			—			—			—			25,022
Construction
Performing		420			—			—			1,607			—			—			—			—			2,027
Pass		51,031			57,409			68,536			19,632			3,531			—			—			—			200,139
Total Construction loans		51,451			57,409			68,536			21,239			3,531			—			—			—			202,166
Total Real Estate loans		156,745			210,937			283,511			405,897			84,890			136,201			—			—			1,278,181
Consumer:
Home equity lines of credit:
Payment performance
Performing		—			—			—			—			—			—			36,253			3,254			39,507
Nonperforming		—			—			—			—			—			—			—			13			13
Total Home equity lines of credit		—			—			—			—			—			—			36,253			3,267			39,520
Other
Payment performance
Performing		488			—			—			—			6			178			2,316			—			2,988
Nonperforming		—			—			—			—			—			—			—			-			-
Total Other consumer loans		488			—			—			-			6			178			2,316			-			2,988
Gross charge-offs for the year ended December 31, 2024		—			—			—			—			—			—			280			—			280
Total loans	$	197,188		$	237,556		$	358,335		$	492,732		$	128,452		$	147,525		$	174,438		$	3,267		$	1,739,493
Total gross charge-offs during the year ended December 31, 2024	$	—		$	—		$	1,755		$	3,568		$	—		$	—		$	280		$	—		$	5,603

Components Of Net Investment In Direct Financing Leases

The following lists the components of the net investment in direct financing leases:


	September 30, 2025					December 31, 2024
	(unaudited)
Total minimum lease payments to be received	$		3,916			$		8,009
Less: Unearned income			(113	)				(336	)
Plus: Indirect initial costs			2					7
Net investment in direct financing leases	$		3,805			$		7,680

Summary Of Future Minimum Lease Payments Receivable

The following summarizes the future minimum lease payments receivable in fiscal year 2025 and in subsequent fiscal years:


2025, excluding the nine months ended September 30, 2025		$		1,154
2026				2,329
2027				398
2028				35
2029				—
Thereafter				—
Total future minimum payments		$		3,916