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Note 4 - Loans and Allowance for Loan Losses | 12 Months Ended
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Dec. 31, 2024
Notes to Financial Statements |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] |
(4) | LOANS AND ALLOWANCE FOR CREDIT LOSSES
Loans at December 31, 2024 and 2023 consisted of the following:
|  | December 31, |  |  | December 31, |
(In thousands) |  | 2024 |  |  | 2023 |
1-4 Family Residential Mortgage |  | $ | 138,936 |  |  | $ | 133,480 |
Home Equity and Second Mortgage |  |  | 66,549 |  |  |  | 62,070 |
Multifamily Residential |  |  | 36,822 |  |  |  | 39,963 |
1-4 Family Residential Construction |  |  | 15,245 |  |  |  | 15,667 |
Other Construction, Development and Land |  |  | 75,840 |  |  |  | 76,713 |
Commercial Real Estate |  |  | 184,851 |  |  |  | 168,757 |
Commercial Business |  |  | 62,727 |  |  |  | 68,223 |
Consumer and Other |  |  | 58,406 |  |  |  | 56,373 |
Principal loan balance |  |  | 639,376 |  |  |  | 621,246 |
Deferred loan origination fees and costs, net |  |  | 1,104 |  |  |  | 1,168 |
Allowance for credit losses |  |  | (9,281 | ) |  |  | (8,005 | )
Loans, net |  | $ | 631,199 |  |  | $ | 614,409 |
The Bank has entered into loan transactions with certain directors, officers and their affiliates (i.e., related parties). The following table represents the aggregate activity for related party loans during the years ended December 31, 2024 and 2023. Adjustments are made to reflect new directors and officers added during the year, as well as directors and officers that left the Company during the year.
(In thousands) |  | 2024 |  |  | 2023 |
Beginning balance |  | $ | 5,877 |  |  | $ | 6,279 |
Adjustments due to officer and director changes |  |  | 29 |  |  |  | (14 | )
New loans |  |  | 1,100 |  |  |  | 837 |
Payments |  |  | (1,697 | ) |  |  | (1,225 | )
Ending balance |  | $ | 5,309 |  |  | $ | 5,877 |
Off-balance-sheet commitments (including commitments to make loans, unused lines of credit and letters of credit) to related parties at December 31, 2024 and 2023 were $2.1 million and $2.6 million, respectively. The following table provides the components of the Company’s amortized cost basis in loans at December 31, 2024:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 1-4 Family |  |  | Home Equity |  |  |  |  |  |  | 1-4 Family |  |  | Construction, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential |  |  | and Second |  |  | Multifamily |  |  | Residential |  |  | Development |  |  | Commercial |  |  | Commercial |  |  | Consumer |  |  |  |  |
|  | Mortgage |  |  | Mortgage |  |  | Residential |  |  | Construction |  |  | and Land |  |  | Real Estate |  |  | Business |  |  | and Other |  |  | Total |
|  | (In thousands) |
Amortized Cost Basis in Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal loan balance |  | $ | 138,936 |  |  | $ | 66,549 |  |  | $ | 36,822 |  |  | $ | 15,245 |  |  | $ | 75,840 |  |  | $ | 184,851 |  |  | $ | 62,727 |  |  | $ | 58,406 |  |  | $ | 639,376 |
Net deferred loan origination fees and costs |  |  | 98 |  |  |  | 1,206 |  |  |  | (17 | ) |  |  | - |  |  |  | (29 | ) |  |  | (145 | ) |  |  | (9 | ) |  |  | - |  |  |  | 1,104 |
Amortized cost basis in loans |  | $ | 139,034 |  |  | $ | 67,755 |  |  | $ | 36,805 |  |  | $ | 15,245 |  |  | $ | 75,811 |  |  | $ | 184,706 |  |  | $ | 62,718 |  |  | $ | 58,406 |  |  | $ | 640,480 |
The following table provides the components of the Company’s amortized cost basis in loans at December 31, 2023:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 1-4 Family |  |  | Home Equity |  |  |  |  |  |  | 1-4 Family |  |  | Construction, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential |  |  | and Second |  |  | Multifamily |  |  | Residential |  |  | Development |  |  | Commercial |  |  | Commercial |  |  | Consumer |  |  |  |  |
|  | Mortgage |  |  | Mortgage |  |  | Residential |  |  | Construction |  |  | and Land |  |  | Real Estate |  |  | Business |  |  | and Other |  |  | Total |
|  | (In thousands) |
Amortized Cost Basis in Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Principal loan balance |  | $ | 133,480 |  |  | $ | 62,070 |  |  | $ | 39,963 |  |  | $ | 15,667 |  |  | $ | 76,713 |  |  | $ | 168,757 |  |  | $ | 68,223 |  |  | $ | 56,373 |  |  | $ | 621,246 |
Net deferred loan origination fees and costs |  |  | 121 |  |  |  | 1,231 |  |  |  | (17 | ) |  |  | - |  |  |  | (44 | ) |  |  | (112 | ) |  |  | (11 | ) |  |  | - |  |  |  | 1,168 |
Amortized cost basis in loans |  | $ | 133,601 |  |  | $ | 63,301 |  |  | $ | 39,946 |  |  | $ | 15,667 |  |  | $ | 76,669 |  |  | $ | 168,645 |  |  | $ | 68,212 |  |  | $ | 56,373 |  |  | $ | 622,414 |
The following table presents the activity in the ACL on loans by class of loan for the year ended December 31, 2024:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 1-4 Family |  |  | Home Equity |  |  |  |  |  |  | 1-4 Family |  |  | Construction, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential |  |  | and Second |  |  | Multifamily |  |  | Residential |  |  | Development |  |  | Commercial |  |  | Commercial |  |  | Consumer |  |  |  |  |
|  | Mortgage |  |  | Mortgage |  |  | Residential |  |  | Construction |  |  | and Land |  |  | Real Estate |  |  | Business |  |  | and Other |  |  | Total |
|  | (In thousands) |
ACL on Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,490 |  |  | $ | 406 |  |  | $ | 332 |  |  | $ | 208 |  |  | $ | 804 |  |  | $ | 2,119 |  |  | $ | 1,431 |  |  | $ | 1,215 |  |  | $ | 8,005 |
Provision for credit losses |  |  | 77 |  |  |  | 68 |  |  |  | 213 |  |  |  | (24 | ) |  |  | (216 | ) |  |  | 339 |  |  |  | 991 |  |  |  | 1 |  |  |  | 1,449 |
Charge-offs |  |  | (4 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (345 | ) |  |  | (349 | )
Recoveries |  |  | 29 |  |  |  | 4 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 1 |  |  |  | 2 |  |  |  | 140 |  |  |  | 176 |
Ending balance |  | $ | 1,592 |  |  | $ | 478 |  |  | $ | 545 |  |  | $ | 184 |  |  | $ | 588 |  |  | $ | 2,459 |  |  | $ | 2,424 |  |  | $ | 1,011 |  |  | $ | 9,281 |
The following table presents the activity in the ACL on loans by class of loan for the year ended December 31, 2023:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | 1-4 Family |  |  | Home Equity |  |  |  |  |  |  | 1-4 Family |  |  | Construction, |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Residential |  |  | and Second |  |  | Multifamily |  |  | Residential |  |  | Development |  |  | Commercial |  |  | Commercial |  |  | Consumer |  |  |  |  |
|  | Mortgage |  |  | Mortgage |  |  | Residential |  |  | Construction |  |  | and Land |  |  | Real Estate |  |  | Business |  |  | and Other |  |  | Total |
|  | (In thousands) |
ACL on Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance, prior to adoption of ASC 326 |  | $ | 1,036 |  |  | $ | 531 |  |  | $ | 346 |  |  | $ | 206 |  |  | $ | 587 |  |  | $ | 2,029 |  |  | $ | 1,156 |  |  | $ | 881 |  |  | $ | 6,772 |
Impact of adopting ASC 326 |  |  | 423 |  |  |  | (26 | ) |  |  | (3 | ) |  |  | (9 | ) |  |  | 13 |  |  |  | (130 | ) |  |  | (142 | ) |  |  | 435 |  |  |  | 561 |
Provision for credit losses |  |  | 41 |  |  |  | (86 | ) |  |  | (11 | ) |  |  | 11 |  |  |  | 204 |  |  |  | 220 |  |  |  | 613 |  |  |  | 149 |  |  |  | 1,141 |
Charge-offs |  |  | (31 | ) |  |  | (15 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (205 | ) |  |  | (430 | ) |  |  | (681 | )
Recoveries |  |  | 21 |  |  |  | 2 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9 |  |  |  | 180 |  |  |  | 212 |
Ending balance |  | $ | 1,490 |  |  | $ | 406 |  |  | $ | 332 |  |  | $ | 208 |  |  | $ | 804 |  |  | $ | 2,119 |  |  | $ | 1,431 |  |  | $ | 1,215 |  |  | $ | 8,005 |
There have been no significant changes to the types of collateral securing the Company’s collateral dependent loans. The following table presents the amortized cost basis of, and ACL allocation to, individually evaluated collateral-dependent loans by class of loans as of December 31, 2024:
|  | Real |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ACL |
|  | Estate |  |  | Equipment |  |  | Other |  |  | Total |  |  | Allocation |
|  | (In thousands) |
1-4 Family Residential Mortgage |  | $ | 1,613 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,613 |  |  | $ | - |
Home Equity and Second Mortgage |  |  | 714 |  |  |  | - |  |  |  | - |  |  |  | 714 |  |  |  | - |
Multifamily Residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
1-4 Family Residential Construction |  |  | 90 |  |  |  | - |  |  |  | - |  |  |  | 90 |  |  |  | 54 |
Other Construction, Development and Land |  |  | 106 |  |  |  | - |  |  |  | - |  |  |  | 106 |  |  |  | - |
Commercial Real Estate |  |  | 3,912 |  |  |  | - |  |  |  | - |  |  |  | 3,912 |  |  |  | - |
Commercial Business |  |  | - |  |  |  | 1,926 |  |  |  | 155 |  |  |  | 2,081 |  |  |  | 1,233 |
Consumer and Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 6,435 |  |  | $ | 1,926 |  |  | $ | 155 |  |  | $ | 8,516 |  |  | $ | 1,287 |
The following table presents the amortized cost basis of, and ACL allocation to, individually evaluated collateral-dependent loans by class of loans as of December 31, 2023:
|  | Real |  |  |  |  |  |  |  |  |  |  |  |  |  |  | ACL |
|  | Estate |  |  | Equipment |  |  | Other |  |  | Total |  |  | Allocation |
|  | (In thousands) |
1-4 Family Residential Mortgage |  | $ | 1,651 |  |  | $ | - |  |  | $ | - |  |  | $ | 1,651 |  |  | $ | 9 |
Home Equity and Second Mortgage |  |  | 548 |  |  |  | - |  |  |  | - |  |  |  | 548 |  |  |  | - |
Multifamily Residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
1-4 Family Residential Construction |  |  | 87 |  |  |  | - |  |  |  | - |  |  |  | 87 |  |  |  | 60 |
Other Construction, Development and Land |  |  | 54 |  |  |  | - |  |  |  | - |  |  |  | 54 |  |  |  | - |
Commercial Real Estate |  |  | 1,055 |  |  |  | - |  |  |  | - |  |  |  | 1,055 |  |  |  | - |
Commercial Business |  |  | - |  |  |  | - |  |  |  | 38 |  |  |  | 38 |  |  |  | - |
Consumer and Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 3,395 |  |  | $ | - |  |  | $ | 38 |  |  | $ | 3,433 |  |  | $ | 69 |
Nonperforming loans consists of nonaccrual loans and loans past due and still accruing interest. The following table presents the amortized cost basis of loans on nonaccrual status and loans 90 days or more past due still accruing as of December 31, 2024:
|  |  |  |  |  |  |  |  |  |  |  |  |  | Loans 90+ Days |  |  | Total |
|  | Nonaccrual Loans |  |  | Nonaccrual Loans |  |  | Total |  |  | Past Due |  |  | Nonperforming |
|  | with No ACL |  |  | with An ACL |  |  | Nonaccrual |  |  | Still Accruing |  |  | Loans |
|  | (In thousands) |
1-4 Family Residential Mortgage |  | $ | 1,186 |  |  | $ | - |  |  | $ | 1,186 |  |  | $ | - |  |  | $ | 1,186 |
Home Equity and Second Mortgage |  |  | 568 |  |  |  | - |  |  |  | 568 |  |  |  | - |  |  |  | 568 |
Multifamily Residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
1-4 Family Residential Construction |  |  | - |  |  |  | 90 |  |  |  | 90 |  |  |  | - |  |  |  | 90 |
Other Construction, Development and Land |  |  | 59 |  |  |  | - |  |  |  | 59 |  |  |  | - |  |  |  | 59 |
Commercial Real Estate |  |  | 413 |  |  |  | - |  |  |  | 413 |  |  |  | - |  |  |  | 413 |
Commercial Business |  |  | 99 |  |  |  | 1,967 |  |  |  | 2,066 |  |  |  | - |  |  |  | 2,066 |
Consumer and Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 2,325 |  |  | $ | 2,057 |  |  | $ | 4,382 |  |  | $ | - |  |  | $ | 4,382 |
The following table presents the amortized cost basis of loans on nonaccrual status and loans 90 days or more past due still accruing as of December 31, 2023:
|  |  |  |  |  |  |  |  |  |  |  |  |  | Loans 90+ Days |  |  | Total |
|  | Nonaccrual Loans |  |  | Nonaccrual Loans |  |  | Total |  |  | Past Due |  |  | Nonperforming |
|  | with No ACL |  |  | with An ACL |  |  | Nonaccrual |  |  | Still Accruing |  |  | Loans |
|  | (In thousands) |
1-4 Family Residential Mortgage |  | $ | 1,120 |  |  | $ | 36 |  |  | $ | 1,156 |  |  | $ | - |  |  | $ | 1,156 |
Home Equity and Second Mortgage |  |  | 454 |  |  |  | - |  |  |  | 454 |  |  |  | - |  |  |  | 454 |
Multifamily Residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
1-4 Family Residential Construction |  |  | - |  |  |  | 87 |  |  |  | 87 |  |  |  | - |  |  |  | 87 |
Other Construction, Development and Land |  |  | 54 |  |  |  | - |  |  |  | 54 |  |  |  | - |  |  |  | 54 |
Commercial Real Estate |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Commercial Business |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Consumer and Other |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total |  | $ | 1,628 |  |  | $ | 123 |  |  | $ | 1,751 |  |  | $ | - |  |  | $ | 1,751 |
No interest income was recognized on nonaccrual loans during the years ended December 31, 2024 and 2023. The following table presents the aging of the amortized cost basis in loans at December 31, 2024:
|  | 30-59 Days |  |  | 60-89 Days |  |  | 90 Days or More |  |  | Total |  |  |  |  |  |  | Total |
|  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Current |  |  | Loans |
|  | (In thousands) |
1-4 Family Residential Mortgage |  | $ | 1,758 |  |  | $ | 205 |  |  | $ | 828 |  |  | $ | 2,791 |  |  | $ | 136,243 |  |  | $ | 139,034 |
Home Equity and Second Mortgage |  |  | 269 |  |  |  | 202 |  |  |  | 148 |  |  |  | 619 |  |  |  | 67,136 |  |  |  | 67,755 |
Multifamily Residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 36,805 |  |  |  | 36,805 |
1-4 Family Residential Construction |  |  | - |  |  |  | - |  |  |  | 90 |  |  |  | 90 |  |  |  | 15,155 |  |  |  | 15,245 |
Other Construction, Development and Land |  |  | 98 |  |  |  | 25 |  |  |  | 59 |  |  |  | 182 |  |  |  | 75,629 |  |  |  | 75,811 |
Commercial Real Estate |  |  | 252 |  |  |  | 1,027 |  |  |  | 413 |  |  |  | 1,692 |  |  |  | 183,014 |  |  |  | 184,706 |
Commercial Business |  |  | 80 |  |  |  | 25 |  |  |  | 140 |  |  |  | 245 |  |  |  | 62,473 |  |  |  | 62,718 |
Consumer and Other |  |  | 472 |  |  |  | 54 |  |  |  | - |  |  |  | 526 |  |  |  | 57,880 |  |  |  | 58,406 |
Total |  | $ | 2,929 |  |  | $ | 1,538 |  |  | $ | 1,678 |  |  | $ | 6,145 |  |  | $ | 634,335 |  |  | $ | 640,480 |
The following table presents the aging of the amortized cost basis in loans at December 31, 2023:
|  | 30-59 Days |  |  | 60-89 Days |  |  | 90 Days or More |  |  | Total |  |  |  |  |  |  | Total |
|  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Past Due |  |  | Current |  |  | Loans |
|  | (In thousands) |
1-4 Family Residential Mortgage |  | $ | 2,104 |  |  | $ | 335 |  |  | $ | 482 |  |  | $ | 2,921 |  |  | $ | 130,680 |  |  | $ | 133,601 |
Home Equity and Second Mortgage |  |  | 396 |  |  |  | 70 |  |  |  | - |  |  |  | 466 |  |  |  | 62,835 |  |  |  | 63,301 |
Multifamily Residential |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 39,946 |  |  |  | 39,946 |
1-4 Family Residential Construction |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 15,667 |  |  |  | 15,667 |
Other Construction, Development and Land |  |  | 162 |  |  |  | - |  |  |  | 54 |  |  |  | 216 |  |  |  | 76,453 |  |  |  | 76,669 |
Commercial Real Estate |  |  | 834 |  |  |  | - |  |  |  | - |  |  |  | 834 |  |  |  | 167,811 |  |  |  | 168,645 |
Commercial Business |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 68,212 |  |  |  | 68,212 |
Consumer and Other |  |  | 302 |  |  |  | 51 |  |  |  | - |  |  |  | 353 |  |  |  | 56,020 |  |  |  | 56,373 |
Total |  | $ | 3,798 |  |  | $ | 456 |  |  | $ | 536 |  |  | $ | 4,790 |  |  | $ | 617,624 |  |  | $ | 622,414 |
Occasionally, the Company modifies loans to borrowers in financial distress by providing principal forgiveness, a term extension, an other-than-insignificant payment delay or an interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the ACL on loans. In some cases, the Company may provide multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. During the year ended December 31, 2024, the Company modified Commercial Business loans with an amortized cost basis of $2.0 million, or approximately 3% of the amortized cost of all Commercial Business loans, for which the borrowers were experiencing financial distress. The modifications for each loan were the modification of principal and interest payments for 12 months. No principal was forgiven, no payments were delayed, and no interest rates were reduced for the modified loans. All modifications occurred for one borrowing relationship only. The Company monitors the performance of modified loans and none of the modified loans were delinquent at December 31, 2024. There were no modifications to borrowers in financial distress during the year ended December 31, 2023. There were no loans to borrowers experiencing financial distress that were modified during the previous 12 months and which subsequently defaulted during the years ended December 31, 2024 and 2023. There were no unfunded commitments associated with loans modified for borrowers experiencing financial distress as of December 31, 2024 or 2023. Upon the Company’s determination that a modified loan (or portion of a loan) has subsequently been deemed uncollectible, the loan (or a portion of the loan) is written off. Therefore, the amortized cost basis of the loan is reduced by the uncollectible amount and the allowance for credit losses is adjusted by the same amount. The Company does not consider modified loans (or potion of a modified loan) uncollectible as of December 31, 2024 or 2023. 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, public information, historical payment experience, credit documentation, and current economic trends, among other factors. The Company classifies loans based on credit risk at least quarterly. The Company uses the following regulatory definitions for risk ratings: Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or of the institution’s credit position at some future date. Substandard: Loans classified as substandard are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss: Loans classified as loss are considered uncollectible and of such little value that their continuance on the institution’s books as an asset is not warranted. Loans not meeting the criteria above that are analyzed individually as part of the described process are considered to be pass rated loans. Based on the most recent analysis performed, the risk category of loans by class of loans as of December 31, 2024 and gross write-offs for the year then ended are as follows:
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving |  |  | Total |
|  | (In thousands) |
1-4 Family Residential Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 22,095 |  |  | $ | 31,871 |  |  | $ | 26,756 |  |  | $ | 23,181 |  |  | $ | 5,824 |  |  | $ | 27,218 |  |  | $ | - |  |  | $ | 136,945 |
Special Mention |  |  | - |  |  |  | 31 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 445 |  |  |  | - |  |  |  | 476 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 427 |  |  |  | - |  |  |  | 427 |
Doubtful |  |  | - |  |  |  | - |  |  |  | 41 |  |  |  | 154 |  |  |  | 73 |  |  |  | 918 |  |  |  | - |  |  |  | 1,186 |
|  | $ | 22,095 |  |  | $ | 31,902 |  |  | $ | 26,797 |  |  | $ | 23,335 |  |  | $ | 5,897 |  |  | $ | 29,008 |  |  | $ | - |  |  | $ | 139,034 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 4 |  |  | $ | - |  |  | $ | 4 |
Home Equity and Second Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 2,014 |  |  | $ | 3,962 |  |  | $ | 3,617 |  |  | $ | 353 |  |  | $ | 182 |  |  | $ | 242 |  |  | $ | 56,590 |  |  | $ | 66,960 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 80 |  |  |  | 80 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 147 |  |  |  | 147 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 568 |  |  |  | - |  |  |  | 568 |
|  | $ | 2,014 |  |  | $ | 3,962 |  |  | $ | 3,617 |  |  | $ | 353 |  |  | $ | 182 |  |  | $ | 810 |  |  | $ | 56,817 |  |  | $ | 67,755 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Multifamily Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 964 |  |  | $ | 3,534 |  |  | $ | 11,820 |  |  | $ | 8,505 |  |  | $ | 7,663 |  |  | $ | 4,319 |  |  | $ | - |  |  | $ | 36,805 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 964 |  |  | $ | 3,534 |  |  | $ | 11,820 |  |  | $ | 8,505 |  |  | $ | 7,663 |  |  | $ | 4,319 |  |  | $ | - |  |  | $ | 36,805 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
1-4 Family Residential Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 12,186 |  |  | $ | 1,498 |  |  | $ | 642 |  |  | $ | - |  |  | $ | 829 |  |  | $ | - |  |  | $ | - |  |  | $ | 15,155 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 90 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 90 |
|  | $ | 12,186 |  |  | $ | 1,498 |  |  | $ | 642 |  |  | $ | 90 |  |  | $ | 829 |  |  | $ | - |  |  | $ | - |  |  | $ | 15,245 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving |  |  | Total |
|  | (In thousands) |
Other Construction, Development and Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 11,687 |  |  | $ | 26,093 |  |  | $ | 31,645 |  |  | $ | 1,823 |  |  | $ | 1,443 |  |  | $ | 3,014 |  |  | $ | - |  |  | $ | 75,705 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 47 |  |  |  | - |  |  |  | 47 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 59 |  |  |  | - |  |  |  | 59 |
|  | $ | 11,687 |  |  | $ | 26,093 |  |  | $ | 31,645 |  |  | $ | 1,823 |  |  | $ | 1,443 |  |  | $ | 3,120 |  |  | $ | - |  |  | $ | 75,811 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 22,024 |  |  | $ | 20,478 |  |  | $ | 41,583 |  |  | $ | 26,748 |  |  | $ | 19,760 |  |  | $ | 44,237 |  |  | $ | 2,129 |  |  | $ | 176,959 |
Special Mention |  |  | - |  |  |  | 511 |  |  |  | 3,032 |  |  |  | - |  |  |  | - |  |  |  | 292 |  |  |  | - |  |  |  | 3,835 |
Substandard |  |  | 311 |  |  |  | 716 |  |  |  | - |  |  |  | 557 |  |  |  | 211 |  |  |  | 1,704 |  |  |  | - |  |  |  | 3,499 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 413 |  |  |  | - |  |  |  | 413 |
|  | $ | 22,335 |  |  | $ | 21,705 |  |  | $ | 44,615 |  |  | $ | 27,305 |  |  | $ | 19,971 |  |  | $ | 46,646 |  |  | $ | 2,129 |  |  | $ | 184,706 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial Business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 8,414 |  |  | $ | 10,636 |  |  | $ | 9,590 |  |  | $ | 8,699 |  |  | $ | 4,750 |  |  | $ | 4,543 |  |  | $ | 12,895 |  |  | $ | 59,527 |
Special Mention |  |  | 486 |  |  |  | 149 |  |  |  | 130 |  |  |  | 126 |  |  |  | 15 |  |  |  | - |  |  |  | 162 |  |  |  | 1,068 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 57 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 57 |
Doubtful |  |  | - |  |  |  | 107 |  |  |  | 1,926 |  |  |  | - |  |  |  | - |  |  |  | 33 |  |  |  | - |  |  |  | 2,066 |
|  | $ | 8,900 |  |  | $ | 10,892 |  |  | $ | 11,646 |  |  | $ | 8,882 |  |  | $ | 4,765 |  |  | $ | 4,576 |  |  | $ | 13,057 |  |  | $ | 62,718 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Consumer and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 18,932 |  |  | $ | 16,555 |  |  | $ | 8,274 |  |  | $ | 3,574 |  |  | $ | 810 |  |  | $ | 7,554 |  |  | $ | 2,577 |  |  | $ | 58,276 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 130 |  |  |  | 130 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 18,932 |  |  | $ | 16,555 |  |  | $ | 8,274 |  |  | $ | 3,574 |  |  | $ | 810 |  |  | $ | 7,554 |  |  | $ | 2,707 |  |  | $ | 58,406 |
Current period gross write-offs |  | $ | 25 |  |  | $ | 74 |  |  | $ | 131 |  |  | $ | 27 |  |  | $ | 8 |  |  | $ | 3 |  |  | $ | 77 |  |  | $ | 345 |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |
|  | 2024 |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | Prior |  |  | Revolving |  |  | Total |
|  | (In thousands) |
Total Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 98,316 |  |  | $ | 114,627 |  |  | $ | 133,927 |  |  | $ | 72,883 |  |  | $ | 41,261 |  |  | $ | 91,127 |  |  | $ | 74,191 |  |  | $ | 626,332 |
Special Mention |  |  | 486 |  |  |  | 691 |  |  |  | 3,162 |  |  |  | 126 |  |  |  | 15 |  |  |  | 737 |  |  |  | 242 |  |  |  | 5,459 |
Substandard |  |  | 311 |  |  |  | 716 |  |  |  | - |  |  |  | 614 |  |  |  | 211 |  |  |  | 2,178 |  |  |  | 277 |  |  |  | 4,307 |
Doubtful |  |  | - |  |  |  | 107 |  |  |  | 1,967 |  |  |  | 244 |  |  |  | 73 |  |  |  | 1,991 |  |  |  | - |  |  |  | 4,382 |
|  | $ | 99,113 |  |  | $ | 116,141 |  |  | $ | 139,056 |  |  | $ | 73,867 |  |  | $ | 41,560 |  |  | $ | 96,033 |  |  | $ | 74,710 |  |  | $ | 640,480 |
Current period gross write-offs |  | $ | 25 |  |  | $ | 74 |  |  | $ | 131 |  |  | $ | 27 |  |  | $ | 8 |  |  | $ | 7 |  |  | $ | 77 |  |  | $ | 349 |
Based on the most recent analysis performed, the risk category of loans by class of loans as of December 31, 2023 and gross write-offs for the year then ended are as follows:
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Revolving |  |  | Total |
|  | (In thousands) |
1-4 Family Residential Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 34,344 |  |  | $ | 31,551 |  |  | $ | 25,846 |  |  | $ | 6,913 |  |  | $ | 9,525 |  |  | $ | 23,628 |  |  | $ | - |  |  | $ | 131,807 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 144 |  |  |  | - |  |  |  | 144 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 75 |  |  |  | 265 |  |  |  | 155 |  |  |  | - |  |  |  | 495 |
Doubtful |  |  | - |  |  |  | 48 |  |  |  | 192 |  |  |  | 78 |  |  |  | - |  |  |  | 837 |  |  |  | - |  |  |  | 1,155 |
|  | $ | 34,344 |  |  | $ | 31,599 |  |  | $ | 26,038 |  |  | $ | 7,066 |  |  | $ | 9,790 |  |  | $ | 24,764 |  |  | $ | - |  |  | $ | 133,601 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | 2 |  |  | $ | - |  |  | $ | - |  |  | $ | 29 |  |  | $ | - |  |  | $ | 31 |
Home Equity and Second Mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 5,267 |  |  | $ | 4,380 |  |  | $ | 529 |  |  | $ | 232 |  |  | $ | 163 |  |  | $ | 327 |  |  | $ | 51,794 |  |  | $ | 62,692 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 61 |  |  |  | 61 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 94 |  |  |  | 94 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 264 |  |  |  | 190 |  |  |  | - |  |  |  | 454 |
|  | $ | 5,267 |  |  | $ | 4,380 |  |  | $ | 529 |  |  | $ | 232 |  |  | $ | 427 |  |  | $ | 517 |  |  | $ | 51,949 |  |  | $ | 63,301 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 15 |  |  | $ | 15 |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Revolving |  |  | Total |
|  | (In thousands) |
Multifamily Residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 3,374 |  |  | $ | 10,495 |  |  | $ | 9,534 |  |  | $ | 7,943 |  |  | $ | 4,137 |  |  | $ | 4,463 |  |  | $ | - |  |  | $ | 39,946 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 3,374 |  |  | $ | 10,495 |  |  | $ | 9,534 |  |  | $ | 7,943 |  |  | $ | 4,137 |  |  | $ | 4,463 |  |  | $ | - |  |  | $ | 39,946 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
1-4 Family Residential Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 9,193 |  |  | $ | 4,180 |  |  | $ | 831 |  |  | $ | 1,119 |  |  | $ | - |  |  | $ | 257 |  |  | $ | - |  |  | $ | 15,580 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  |  | - |  |  |  | - |  |  |  | 87 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 87 |
|  | $ | 9,193 |  |  | $ | 4,180 |  |  | $ | 918 |  |  | $ | 1,119 |  |  | $ | - |  |  | $ | 257 |  |  | $ | - |  |  | $ | 15,667 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Other Construction, Development and Land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 26,717 |  |  | $ | 35,673 |  |  | $ | 7,495 |  |  | $ | 2,655 |  |  | $ | 1,231 |  |  | $ | 2,795 |  |  | $ | - |  |  | $ | 76,566 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 49 |  |  |  | - |  |  |  | 49 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 54 |  |  |  | - |  |  |  | 54 |
|  | $ | 26,717 |  |  | $ | 35,673 |  |  | $ | 7,495 |  |  | $ | 2,655 |  |  | $ | 1,231 |  |  | $ | 2,898 |  |  | $ | - |  |  | $ | 76,669 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
Commercial Real Estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 14,818 |  |  | $ | 40,675 |  |  | $ | 29,656 |  |  | $ | 19,589 |  |  | $ | 18,231 |  |  | $ | 38,818 |  |  | $ | 1,755 |  |  | $ | 163,542 |
Special Mention |  |  | 823 |  |  |  | - |  |  |  | 573 |  |  |  | 1,622 |  |  |  | 417 |  |  |  | 62 |  |  |  | 550 |  |  |  | 4,047 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 231 |  |  |  | - |  |  |  | 825 |  |  |  | - |  |  |  | 1,056 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 15,641 |  |  | $ | 40,675 |  |  | $ | 30,229 |  |  | $ | 21,442 |  |  | $ | 18,648 |  |  | $ | 39,705 |  |  | $ | 2,305 |  |  | $ | 168,645 |
Current period gross write-offs |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | - |
|  | Term Loans Amortized Cost Basis by Origination Year |  |  |  |  |  |  |  |  |
|  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Revolving |  |  | Total |
|  | (In thousands) |
Commercial Business |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 14,717 |  |  | $ | 12,603 |  |  | $ | 11,049 |  |  | $ | 5,706 |  |  | $ | 5,312 |  |  | $ | 3,646 |  |  | $ | 12,384 |  |  | $ | 65,417 |
Special Mention |  |  | 208 |  |  |  | 2,097 |  |  |  | 106 |  |  |  | 48 |  |  |  | 160 |  |  |  | - |  |  |  | 138 |  |  |  | 2,757 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 38 |  |  |  | - |  |  |  | - |  |  |  | 38 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 14,925 |  |  | $ | 14,700 |  |  | $ | 11,155 |  |  | $ | 5,754 |  |  | $ | 5,510 |  |  | $ | 3,646 |  |  | $ | 12,522 |  |  | $ | 68,212 |
Current period gross write-offs |  | $ | - |  |  | $ | 155 |  |  | $ | 2 |  |  | $ | 26 |  |  | $ | - |  |  | $ | 6 |  |  | $ | 16 |  |  | $ | 205 |
Consumer and Other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 23,335 |  |  | $ | 13,906 |  |  | $ | 7,662 |  |  | $ | 2,604 |  |  | $ | 846 |  |  | $ | 5,446 |  |  | $ | 2,484 |  |  | $ | 56,283 |
Special Mention |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 90 |  |  |  | 90 |
Doubtful |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
|  | $ | 23,335 |  |  | $ | 13,906 |  |  | $ | 7,662 |  |  | $ | 2,604 |  |  | $ | 846 |  |  | $ | 5,446 |  |  | $ | 2,574 |  |  | $ | 56,373 |
Current period gross write-offs |  | $ | 16 |  |  | $ | 90 |  |  | $ | 107 |  |  | $ | 25 |  |  | $ | 24 |  |  | $ | 52 |  |  | $ | 116 |  |  | $ | 430 |
Total loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 131,765 |  |  | $ | 153,463 |  |  | $ | 92,602 |  |  | $ | 46,761 |  |  | $ | 39,445 |  |  | $ | 79,380 |  |  | $ | 68,417 |  |  | $ | 611,833 |
Special Mention |  |  | 1,031 |  |  |  | 2,097 |  |  |  | 679 |  |  |  | 1,670 |  |  |  | 577 |  |  |  | 255 |  |  |  | 749 |  |  |  | 7,058 |
Substandard |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 306 |  |  |  | 303 |  |  |  | 980 |  |  |  | 184 |  |  |  | 1,773 |
Doubtful |  |  | - |  |  |  | 48 |  |  |  | 279 |  |  |  | 78 |  |  |  | 264 |  |  |  | 1,081 |  |  |  | - |  |  |  | 1,750 |
|  | $ | 132,796 |  |  | $ | 155,608 |  |  | $ | 93,560 |  |  | $ | 48,815 |  |  | $ | 40,589 |  |  | $ | 81,696 |  |  | $ | 69,350 |  |  | $ | 622,414 |
Current period gross write-offs |  | $ | 16 |  |  | $ | 245 |  |  | $ | 111 |  |  | $ | 51 |  |  | $ | 24 |  |  | $ | 87 |  |  | $ | 147 |  |  | $ | 681 |
Allowance for Loan Losses Prior to the adoption of ASC 326 on January 1, 2023, the Company calculated the allowance for loan losses using the incurred loss methodology. The following tables are disclosures related to the allowance for loan losses in prior periods. An analysis of the allowance for loan losses for the year ended December 31, 2022 is as follows:
|  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Home Equity |  |  |  |  |  |  |  |  |
|  | Residential |  |  |  |  |  |  |  |  |  |  | Commercial |  |  | Commercial |  |  | and Second |  |  | Other |  |  |  |  |
|  | Real Estate |  |  | Land |  |  | Construction |  |  | Real Estate |  |  | Business |  |  | Mortgage |  |  | Consumer |  |  | Total |
|  | (In thousands) |
Allowance for Loan Losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 1,174 |  |  | $ | 234 |  |  | $ | 403 |  |  | $ | 1,884 |  |  | $ | 873 |  |  | $ | 527 |  |  | $ | 988 |  |  | $ | 6,083 |
Provisions |  |  | 247 |  |  |  | 31 |  |  |  | 123 |  |  |  | 147 |  |  |  | 173 |  |  |  | 1 |  |  |  | 228 |  |  |  | 950 |
Charge-offs |  |  | (48 | ) |  |  | - |  |  |  | - |  |  |  | - |  |  |  | (9 | ) |  |  | - |  |  |  | (448 | ) |  |  | (505 | )
Recoveries |  |  | 10 |  |  |  | - |  |  |  | - |  |  |  | - |  |  |  | 9 |  |  |  | 2 |  |  |  | 223 |  |  |  | 244 |
Ending balance |  | $ | 1,383 |  |  | $ | 265 |  |  | $ | 526 |  |  | $ | 2,031 |  |  | $ | 1,046 |  |  | $ | 530 |  |  | $ | 991 |  |  | $ | 6,772 |
The following table summarizes the Company’s impaired loans for the year ended December 31, 2022. The Company did not recognize any interest income on impaired loans using the cash receipts method of accounting for the year ended December 31, 2022.
|  | Average |  |  | Interest |
|  | Recorded |  |  | Income |
|  | Investment |  |  | Recognized |
|  | (In thousands) |
Loans with no related allowance recorded: |  |  |  |  |  |  |  |
Residential |  | $ | 893 |  |  | $ | 12 |
Land |  |  | 71 |  |  |  | - |
Construction |  |  | - |  |  |  | - |
Commercial real estate |  |  | 582 |  |  |  | 25 |
Commercial business |  |  | 137 |  |  |  | 8 |
Home equity and second mortgage |  |  | 155 |  |  |  | - |
Other consumer |  |  | - |  |  |  | - |
|  | $ | 1,838 |  |  | $ | 45 |
Loans with an allowance recorded: |  |  |  |  |  |  |  |
Residential |  | $ | 11 |  |  | $ | - |
Land |  |  | - |  |  |  | - |
Construction |  |  | - |  |  |  | - |
Commercial real estate |  |  | - |  |  |  | - |
Commercial business |  |  | 31 |  |  |  | - |
Home equity and second mortgage |  |  | 172 |  |  |  | - |
Other consumer |  |  | - |  |  |  | - |
|  | $ | 214 |  |  | $ | - |
Total: |  |  |  |  |  |  |  |
Residential |  | $ | 904 |  |  | $ | 12 |
Land |  |  | 71 |  |  |  | - |
Construction |  |  | - |  |  |  | - |
Commercial real estate |  |  | 582 |  |  |  | 25 |
Commercial business |  |  | 168 |  |  |  | 8 |
Home equity and second mortgage |  |  | 327 |  |  |  | - |
Other consumer |  |  | - |  |  |  | - |
|  | $ | 2,052 |  |  | $ | 45 |
There were no TDRs that were restructured during the year ended December 31, 2022. There were no principal charge-offs recorded as a result of TDRs during the year ended December 31, 2022. The Company had no payment defaults (defined as the loan becoming more than 90 days past due, being moved to nonaccrual status, or the collateral being foreclosed upon) for TDRs modified within the previous 12 months during the year ended December 31, 2022. In the event that a TDR subsequently defaults, the Company evaluates the restructuring for possible impairment. As a result, the related allowance may be increased or charge-offs may be taken to reduce the carrying amount of the loan. The Company did not recognize any provisions for loan losses or net charge-offs as a result of defaulted TDRs for the year ended December 31, 2022. ACL on Off-Balance-Sheet Credit Exposures The Company estimates expected credit losses over the contractual period in which the Company is exposed to credit risk via a contractual obligation to extend credit, unless that obligation is unconditionally cancellable by the Company. The estimate includes consideration of the likelihood that funding will occur and an estimate of expected credit losses on commitments expected to be funded over its estimated life. The Company recorded an ACL for unfunded commitments of $131,000 in conjunction with the Company’s adoption of ASU 2016-13 on January 1, 2023. The ACL for off-balance-sheet credit exposures is presented in accrued expenses and other liabilities on the consolidated balance sheets. Changes in the ACL for off-balance-sheet credit exposures are reflected in the provision for credit losses on the consolidated statements of income. There were no changes to the ACL for off-balance-sheet credit exposures during the years ended December 31, 2024 and 2023.

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- Definition The entire disclosure for claims held for amounts due to 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 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482925/835-30-45-2 + Details
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