XML 22 R11.htm IDEA: XBRL DOCUMENT

Note 4 - Loans and Allowance for Credit Losses

3 Months Ended

Mar. 31, 2025

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

4.	Loans and Allowance for Credit Losses

Loans at March 31, 2025 and December 31, 2024 consisted of the following:

	March 31,			December 31,
(In thousands)	2025			2024


1-4 Family Residential Mortgage	$	140,853		$	138,936
Home Equity and Second Mortgage		67,074			66,549
Multifamily Residential		45,891			36,822
1-4 Family Residential Construction		17,573			15,245
Other Construction, Development and Land		70,168			75,840
Commercial Real Estate		189,309			184,851
Commercial Business		63,343			62,727
Consumer and Other		57,148			58,406
Principal loan balance		651,359			639,376

Deferred loan origination fees and costs, net		1,117			1,104
Allowance for credit losses		(9,535	)		(9,281	)

Loans, net	$	642,941		$	631,199

The Allowance for Credit Losses (“ACL”) on loans is measured on a collective (pooled) basis when similar risk characteristics exist. The Company’s pools/segments are largely determined based on loan types as defined by Call Report instructions. The Company has identified and utilizes the following portfolio segments:

1–4 Family Residential Mortgage – 1–4 Family Residential Mortgage loans are primarily secured by 1-4 family residences that are owner-occupied and serve as the primary residence of the borrower. In addition, the Company typically has a senior (1st lien) position securing the collateral of loans in this portfolio. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by unemployment levels in the market area due to economic conditions. Repayment may also be impacted by changes in residential property values.

Home Equity and Second Mortgage – Home Equity and Second Mortgage loans and lines of credit are primarily secured by 1-4 family residences that are owner-occupied and serve as the primary residence of the borrower. However, the Company typically has a junior lien position securing the collateral of loans in this portfolio. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by unemployment levels in the market area due to economic conditions. Repayment may also be impacted by changes in residential property values. While secured by collateral similar to that of the 1–4 Family Residential Mortgage loans, loans within this segment are considered to carry elevated risk due to the Company’s junior lien position on the underlying collateral property.

Multi-family Residential – Multi-family Residential loans are primarily secured by properties such as apartment complexes and other multi-tenant properties within the Company’s market area. In some situations, the collateral may reside outside of the Company’s typical market area. Repayment of these loans is often dependent on the successful operation and management of the properties and collection of associated rents. Repayment of such loans may be affected by adverse conditions in the real estate market or the economy.

1–4 Family Residential Construction – 1–4 Family Residential Construction loans are generally secured by 1-4 family residences that will be owner-occupied upon completion. Risks inherent in construction lending are related to the market value of the property held as collateral, the cost and timing of constructing or improving a property, movements in interest rates and the real estate market during the construction phase, and the ability of the borrower to obtain permanent financing. Repayment of these loans is primarily dependent on the personal income of the borrowers, which can be impacted by unemployment levels in the market area due to economic conditions. Repayment may also be impacted by changes in residential property values.

Other Construction, Development and Land – Other Construction, Development and Land loans include loans secured by multi-family properties, commercial projects, and vacant land. This portfolio includes both owner-occupied and speculative investment properties. Risks inherent in construction lending are related to the market value of the property held as collateral, the cost and timing of constructing or improving a property, the borrower’s ability to use funds generated by a project to service a loan until a project is completed, movements in interest rates and the real estate market during the construction phase, and the ability of the borrower to obtain permanent financing.

Commercial Real Estate – Commercial Real Estate loans are comprised of loans secured by various types of collateral including warehouses, retail space, and mixed-use buildings, among others, located in the Company’s primary lending area. Risks related to commercial real estate lending are related to the market value of the property taken as collateral, the underlying cash flows, and general economic condition of the local real estate market. Repayment of these loans is generally dependent on the ability of the borrower to attract tenants at lease rates that provide for adequate debt service and can be impacted by local economic conditions which impact vacancy rates. The Company generally obtains loan guarantees from financially capable parties for Commercial Real Estate loans. To a lesser degree, this segment also includes loans secured by farmland. The risks associated with loans secured by farmland are related to the market value of the property taken as collateral and the underlying cash flows from farming operations and general economic conditions.

Commercial Business – Commercial Business loans include lines of credit to businesses, term loans and letters of credit secured by business assets such as equipment, accounts receivable, inventory, or other assets excluding real estate. Loans in this portfolio may also be unsecured and are generally made to finance capital expenditures or fund operations. Commercial Business loans contain risks related to the value of the collateral securing the loan and the repayment is primarily dependent upon the financial success and viability of the borrower. As with Commercial Real Estate loans, the Company generally obtains loan guarantees from financially capable parties for Commercial Business loans.

Consumer and Other Loans – Consumer and Other Loans consist mainly of loans secured by new and used automobiles and trucks, recreational vehicles such as boats and RVs, mobile homes and secured and unsecured loans to individuals. The risks associated with these loans are related to local economic conditions including the unemployment level. To a lesser degree, this segment also includes loans secured by lawn and farm equipment, well as farm output and loans secured by marketable securities. The risks associated with these loans are related to local economic conditions including the unemployment level, general economic conditions impacting crop prices, the supply chain and the fair value of the security collateral.

Loans that do not share risk characteristics are evaluated on an individual basis. In addition, loans evaluated individually are not included in the collective evaluation. When management determines that foreclosure is probable or the borrower is experiencing financial difficulty at the reporting date and repayment is expected to be provided substantially through the operation or sale of the collateral, expected credit losses are based on the fair value of the collateral at the reporting date adjusted for selling costs.

The following table provides the components of the Company’s amortized cost basis in loans at March 31, 2025:

										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	$	140,853	$	67,074	$	45,891		$	17,573	$	70,168		$	189,309		$	63,343		$	57,148	$	651,359

Net deferred loan origination fees and costs		89		1,214		(17	)		-		(30	)		(137	)		(2	)		-		1,117

Amortized cost basis in loans	$	140,942	$	68,288	$	45,874		$	17,573	$	70,138		$	189,172		$	63,341		$	57,148	$	652,476

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

An analysis of the changes in the ACL on loans for the three months ended March 31, 2025 is as follows:

											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	$	1,592		$	478	$	545		$	184	$	588	$	2,459		$	2,424		$	1,011		$	9,281
Provision for credit losses		(157	)		89		(114	)		39		591		(131	)		(61	)		82			338
Charge-offs		-			-		-			-		-		-			(27	)		(100	)		(127	)
Recoveries		3			-		-			-		-		-			1			39			43

Ending balance	$	1,438		$	567	$	431		$	223	$	1,179	$	2,328		$	2,337		$	1,032		$	9,535

An analysis of the changes in the ACL on loans for the three months ended March 31, 2024 is as follows:

											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		(152	)		35		91		(16	)		7		634		(129	)		(190	)		280
Charge-offs		(1	)		-		-		-			-		-		-			(99	)		(100	)
Recoveries		1			3		-		-			-		1		-			40			45

Ending balance	$	1,338		$	444	$	423	$	192		$	811	$	2,754	$	1,302		$	966		$	8,230

Accrued interest on loans of $2.4 million at March 31, 2025 and December 31, 2024 is included in accrued interest receivable on the consolidated balance sheets and is excluded from the estimate of credit losses.

The Company utilizes the Weighted Average Remaining Maturity (“WARM”) method in determining expected future credit losses. The WARM method uses average annual charge-off rates and the remaining life of the loan to estimate the ACL. For the Company’s loan portfolios, the remaining contractual life for each loan is adjusted by the expected scheduled payments and estimated prepayments. The average annual charge-off rate is applied to the amortization adjusted remaining life of the loan to determine the unadjusted lifetime historical charge-off rate. The Company’s expected loss estimate is anchored in historical credit loss experience, with an emphasis on all available portfolio data. The Company’s historical look-back periods for the loan portfolio range from one to 10 years depending on the WARM of the given portfolio segment and are updated on an annual basis.

The Company estimates the ACL on loans using relevant available information from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. Reasonable and supportable forecasts typically utilize a 12-month period with immediate reversion to historical losses. Historical loss experience provides the basis for the estimation of expected credit losses. Qualitative adjustments to historical loss information are made for losses reflected by peers, changes in underwriting standards, changes in economic conditions, changes in delinquency levels, collateral values and other factors.

Qualitative adjustments reflect management’s overall estimate of the extent to which current expected credit losses on collectively evaluated loans will differ from historical loss experience. The analysis takes into consideration industry and collateral concentrations, acquired loan portfolio characteristics and other credit-related analytics as deemed appropriate.

Management exercises significant judgment in evaluating the relevant historical loss experience and the qualitative factors. Management also monitors the differences between estimated and actual incurred loan losses in order to evaluate the effectiveness of the estimation process and make any changes in the methodology as necessary.

Collateral dependent loans are loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral and the borrower is experiencing financial difficulty. 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 March 31, 2025:

	March 31, 2025
	Real								ACL
	Estate		Equipment		Other		Total		Allocation
	(In thousands)

1-4 Family Residential Mortgage	$	1,563	$	-	$	-	$	1,563	$	-
Home Equity and Second Mortgage		639		-		-		639		-
Multifamily Residential		-		-		-		-		-
1-4 Family Residential Construction		91		-		-		91		55
Other Construction, Development and Land		107		-		-		107		-
Commercial Real Estate		3,890		-		-		3,890		-
Commercial Business		-		1,866		149		2,015		1,233
Consumer and Other		-		-		-		-		-
	$	6,290	$	1,866	$	149	$	8,305	$	1,288

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

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 March 31, 2025:

							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	$	1,073	$	-	$	1,073	$	-	$	1,073
Home Equity and Second Mortgage		432		-		432		-		432
Multifamily Residential		-		-		-		-		-
1-4 Family Residential Construction		-		91		91		-		91
Other Construction, Development and Land		60		-		60		-		60
Commercial Real Estate		413		-		413		-		413
Commercial Business		99		1,907		2,006		-		2,006
Consumer and Other		-		-		-		18		18

Total	$	2,077	$	1,998	$	4,075	$	18	$	4,093

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

No interest income was recognized on nonaccrual loans during the three months ended March 31, 2025 and 2024.

The following table presents the aging of the amortized cost basis in loans at March 31, 2025:

	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	$	2,136	$	66	$	714	$	2,916	$	138,026	$	140,942
Home Equity and Second Mortgage		130		98		117		345		67,943		68,288
Multifamily Residential		-		-		-		-		45,874		45,874
1-4 Family Residential Construction		-		-		91		91		17,482		17,573
Other Construction, Development and Land		260		-		60		320		69,818		70,138
Commercial Real Estate		720		311		413		1,444		187,728		189,172
Commercial Business		51		51		140		242		63,099		63,341
Consumer and Other		285		17		18		320		56,828		57,148

Total	$	3,582	$	543	$	1,553	$	5,678	$	646,798	$	652,476

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

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 three months ended March 31, 2025, there were no modifications to borrowers in financial distress. During the three months ended March 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 modification for each loan was the granting of a three-month, interest only payment period with an additional three months added to the original term of the loans. No principal was forgiven, no payments were delayed, and no interest rates were reduced for the modified loans.

The Company monitors the performance of modified loans and no modified loans were delinquent at March 31, 2025 or December 31, 2024. There were no loans to borrowers experiencing financial distress that were modified during the previous 12 months and which subsequently defaulted during the three months ended March 31, 2025 and 2024. There were no unfunded commitments associated with loans modified for borrowers experiencing financial distress as of March 31, 2025 and December 31, 2024.

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 analysis performed at March 31, 2025, the risk category of loans by class of loans is as follows:

	Term Loans Amortized Cost Basis by Origination Year
	2025		2024		2023		2022		2021		Prior		Revolving		Total
	(In thousands)
1-4 Family Residential Mortgage
Pass	$	6,519	$	21,416	$	31,069	$	25,646	$	22,711	$	31,633	$	-	$	138,994
Special Mention		-		-		-		91		93		202		-		386
Substandard		-		-		-		-		-		489		-		489
Doubtful		-		-		31		39		151		852		-		1,073
	$	6,519	$	21,416	$	31,100	$	25,776	$	22,955	$	33,176	$	-	$	140,942

Current period gross write-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Home Equity and Second Mortgage
Pass	$	279	$	1,848	$	3,809	$	3,310	$	312	$	372	$	57,671	$	67,601
Special Mention		-		-		-		-		28		-		19		47
Substandard		-		-		-		-		-		-		208		208
Doubtful		-		43		-		-		-		389		-		432
	$	279	$	1,891	$	3,809	$	3,310	$	340	$	761	$	57,898	$	68,288

Current period gross write-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Multifamily Residential
Pass	$	7	$	959	$	6,455	$	18,186	$	8,447	$	11,820	$	-	$	45,874
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-
Doubtful		-		-		-		-		-		-		-		-
	$	7	$	959	$	6,455	$	18,186	$	8,447	$	11,820	$	-	$	45,874

Current period gross write-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

1-4 Family Residential Construction
Pass	$	1,194	$	13,513	$	1,198	$	665	$	-	$	912	$	-	$	17,482
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		-		-
Doubtful		-		-		-		-		91		-		-		91
	$	1,194	$	13,513	$	1,198	$	665	$	91	$	912	$	-	$	17,573

Current period gross write-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

	Term Loans Amortized Cost Basis by Origination Year
	2025		2024		2023		2022		2021		Prior		Revolving		Total
	(In thousands)
Other Construction, Development and Land
Pass	$	4,164	$	15,959	$	23,257	$	17,698	$	1,621	$	4,334	$	-	$	67,033
Special Mention		-		-		-		2,998		-		-		-		2,998
Substandard		-		-		-		-		-		47		-		47
Doubtful		-		-		-		-		-		60		-		60
	$	4,164	$	15,959	$	23,257	$	20,696	$	1,621	$	4,441	$	-	$	70,138

Current period gross write-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Commercial Real Estate
Pass	$	2,357	$	21,733	$	19,985	$	47,307	$	26,136	$	61,015	$	2,320	$	180,853
Special Mention		203		-		509		1,924		-		1,793		-		4,429
Substandard		-		311		711		-		553		1,902		-		3,477
Doubtful		-		-		-		-		-		413		-		413
	$	2,560	$	22,044	$	21,205	$	49,231	$	26,689	$	65,123	$	2,320	$	189,172

Current period gross write-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-

Commercial Business
Pass	$	4,716	$	7,767	$	9,913	$	8,898	$	8,391	$	8,961	$	12,020	$	60,666
Special Mention		38		427		33		48		56		16		-		618
Substandard		-		-		-		-		51		-		-		51
Doubtful		-		-		107		1,866		-		33		-		2,006
	$	4,754	$	8,194	$	10,053	$	10,812	$	8,498	$	9,010	$	12,020	$	63,341

Current period gross write-offs	$	-	$	-	$	-	$	27	$	-	$	-	$	-	$	27

Consumer and Other
Pass	$	5,934	$	16,790	$	14,758	$	7,053	$	2,872	$	7,846	$	1,803	$	57,056
Special Mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		-		92		92
Doubtful		-		-		-		-		-		-		-		-
	$	5,934	$	16,790	$	14,758	$	7,053	$	2,872	$	7,846	$	1,895	$	57,148

Current period gross write-offs	$	-	$	35	$	29	$	18	$	-	$	1	$	17	$	100

	Term Loans Amortized Cost Basis by Origination Year
	2025		2024		2023		2022		2021		Prior		Revolving		Total
	(In thousands)
Total Loans
Pass	$	25,170	$	99,985	$	110,444	$	128,763	$	70,490	$	126,893	$	73,814	$	635,559
Special Mention		241		427		542		5,061		177		2,011		19		8,478
Substandard		-		311		711		-		604		2,438		300		4,364
Doubtful		-		43		138		1,905		242		1,747		-		4,075
	$	25,411	$	100,766	$	111,835	$	135,729	$	71,513	$	133,089	$	74,133	$	652,476

Current period gross write-offs	$	-	$	35	$	29	$	45	$	-	$	1	$	17	$	127

Based on the most recent analysis performed, the risk category of loans by class of loans as of December 31, 2024 is 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


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

	Term Loans Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving		Total
	(In thousands)
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


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


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


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

	Term Loans Amortized Cost Basis by Origination Year
	2024		2023		2022		2021		2020		Prior		Revolving		Total
	(In thousands)
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


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


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

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 ACL for off-balance-sheet credit exposures was $131,000 at both March 31, 2025 and December 31, 2024. 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 three months ended March 31, 2025 and 2024.