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Loans Receivable (Tables) | 9 Months Ended
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Sep. 30, 2025
Receivables [Abstract] |
Schedule of Accounts, Notes, Loans and Financing Receivable | Loans consist of the following as of September 30, 2025, and December 31, 2024:
(Dollars in thousands) | September 30, 2025 |  | December 31, 2024
Loans secured by real estate: |  |  |
Residential real estate | $ | 450,007 |  |  | $ | 467,293 |
Home equity | 51,813 |  |  | 49,758 |
Commercial real estate | 564,558 |  |  | 551,674 |
Construction and land development | 79,678 |  |  | 82,874 |
Multifamily | 192,698 |  |  | 212,455 |
Total loans secured by real estate | 1,338,754 |  |  | 1,364,054 |
Commercial business | 96,192 |  |  | 104,246 |
Consumer | 348 |  |  | 551 |
Manufactured homes | 24,372 |  |  | 26,708 |
Government | 12,298 |  |  | 11,024 |
Loans receivable | 1,471,964 |  |  | 1,506,583 |
Add: |  |  |
Net deferred loan origination costs | 1,719 |  |  | 2,439 |
Loan clearing funds | 91 |  |  | (46) |
Loans receivable, net of deferred fees and costs | $ | 1,473,774 |  |  | $ | 1,508,976 |
Schedule of Financing Receivable, Past Due | The Company's age analysis of past due loans is summarized below:
(Dollars in thousands) | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due |  | Total Past Due and Accruing |  | Current |  | Accruing Loans |  | Nonaccrual Loans |  | Total Loans Receivable
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate | $ | 4,848 |  |  | $ | 615 |  |  | $ | - |  |  | $ | 5,463 |  |  | $ | 438,730 |  |  | $ | 444,193 |  |  | $ | 5,814 |  |  | $ | 450,007 |
Home equity | 375 |  |  | 263 |  |  | - |  |  | 638 |  |  | 50,294 |  |  | 50,932 |  |  | 881 |  |  | 51,813 |
Commercial real estate | 2,714 |  |  | 6,349 |  |  | - |  |  | 9,063 |  |  | 553,431 |  |  | 562,494 |  |  | 2,064 |  |  | 564,558 |
Construction and land development | 811 |  |  | - |  |  | - |  |  | 811 |  |  | 78,150 |  |  | 78,961 |  |  | 717 |  |  | 79,678 |
Multifamily | 174 |  |  | 491 |  |  | - |  |  | 665 |  |  | 190,301 |  |  | 190,966 |  |  | 1,732 |  |  | 192,698 |
Commercial business | 2,041 |  |  | 47 |  |  | - |  |  | 2,088 |  |  | 91,420 |  |  | 93,508 |  |  | 2,684 |  |  | 96,192 |
Consumer | - |  |  | - |  |  | - |  |  | - |  |  | 348 |  |  | 348 |  |  | - |  |  | 348 |
Manufactured homes | 81 |  |  | 90 |  |  | - |  |  | 171 |  |  | 24,201 |  |  | 24,372 |  |  | - |  |  | 24,372 |
Government | - |  |  | - |  |  | - |  |  | - |  |  | 12,298 |  |  | 12,298 |  |  | - |  |  | 12,298 |
Total | $ | 11,044 |  |  | $ | 7,855 |  |  | $ | - |  |  | $ | 18,899 |  |  | $ | 1,439,173 |  |  | $ | 1,458,072 |  |  | $ | 13,892 |  |  | $ | 1,471,964 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate | $ | 4,423 |  |  | $ | 1,184 |  |  | $ | - |  |  | $ | 5,607 |  |  | $ | 457,021 |  |  | $ | 462,628 |  |  | $ | 4,665 |  |  | $ | 467,293 |
Home equity | 1,002 |  |  | 123 |  |  | - |  |  | 1,125 |  |  | 48,150 |  |  | 49,275 |  |  | 483 |  |  | 49,758 |
Commercial real estate | 4,556 |  |  | 571 |  |  | - |  |  | 5,127 |  |  | 545,267 |  |  | 550,394 |  |  | 1,280 |  |  | 551,674 |
Construction and land development | 2,039 |  |  | - |  |  | - |  |  | 2,039 |  |  | 80,177 |  |  | 82,216 |  |  | 658 |  |  | 82,874 |
Multifamily | 1,961 |  |  | 359 |  |  | - |  |  | 2,320 |  |  | 206,773 |  |  | 209,093 |  |  | 3,362 |  |  | 212,455 |
Commercial business | 493 |  |  | 508 |  |  | - |  |  | 1,001 |  |  | 99,955 |  |  | 100,956 |  |  | 3,290 |  |  | 104,246 |
Consumer | 5 |  |  | - |  |  | - |  |  | 5 |  |  | 546 |  |  | 551 |  |  | - |  |  | 551 |
Manufactured homes | 428 |  |  | 54 |  |  | - |  |  | 482 |  |  | 26,226 |  |  | 26,708 |  |  | - |  |  | 26,708 |
Government | - |  |  | - |  |  | - |  |  | - |  |  | 11,024 |  |  | 11,024 |  |  | - |  |  | 11,024 |
Total | $ | 14,907 |  |  | $ | 2,799 |  |  | $ | - |  |  | $ | 17,706 |  |  | $ | 1,475,139 |  |  | $ | 1,492,845 |  |  | $ | 13,738 |  |  | $ | 1,506,583 |
Schedule of Financing Receivable Credit Quality Indicators | The following table shows the amortized cost of loans, segregated by portfolio segment, credit quality rating and year of origination as of September 30, 2025, and December 31, 2024, and gross charge-offs for the nine months ended September 30, 2025, and for the year ended December 31, 2024.
September 30, 2025 | 2025 | 2024 | 2023 | 2022 | 2021 | Prior | Revolving | Revolving Converted to Term | Total
Total Loans Receivable | $ | 96,295 |  | $ | 125,770 |  | $ | 128,741 |  | $ | 272,358 |  | $ | 271,138 |  | $ | 474,161 |  | $ | 102,022 |  | $ | 1,479 |  | $ | 1,471,964 |
Total current period gross charge-off | $ | (33) |  | $ | - |  | $ | (44) |  | $ | - |  | $ | (2) |  | $ | (339) |  | $ | - |  | $ | - |  | $ | (418) |
Residential real estate |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 8,909 |  | $ | 17,218 |  | $ | 28,272 |  | $ | 82,991 |  | $ | 95,407 |  | $ | 202,715 |  | $ | 3,465 |  | $ | - |  | $ | 438,977 |
Special Mention (7) | - |  | - |  | 459 |  | 1,324 |  | 739 |  | 2,610 |  | - |  | - |  | 5,132 |
Substandard (8) | 127 |  | - |  | 869 |  | 1,484 |  | 528 |  | 2,890 |  | - |  | - |  | 5,898 |
Total | $ | 9,036 |  | $ | 17,218 |  | $ | 29,600 |  | $ | 85,799 |  | $ | 96,674 |  | $ | 208,215 |  | $ | 3,465 |  | $ | - |  | $ | 450,007 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Home equity |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 626 |  | $ | 94 |  | $ | 43 |  | $ | 239 |  | $ | 51 |  | $ | 2,338 |  | $ | 46,043 |  | $ | 1,032 |  | $ | 50,466 |
Special Mention (7) | - |  | 28 |  | 7 |  | - |  | 20 |  | 74 |  | 145 |  | 186 |  | 460 |
Substandard (8) | - |  | - |  | - |  | - |  | - |  | 217 |  | 409 |  | 261 |  | 887 |
Total | $ | 626 |  | $ | 122 |  | $ | 50 |  | $ | 239 |  | $ | 71 |  | $ | 2,629 |  | $ | 46,597 |  | $ | 1,479 |  | $ | 51,813 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Commercial real estate |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 46,040 |  | $ | 60,004 |  | $ | 63,815 |  | $ | 110,836 |  | $ | 84,291 |  | $ | 176,061 |  | $ | 3,367 |  | $ | - |  | $ | 544,414 |
Special Mention (7) | 25 |  | 873 |  | 2,221 |  | 4,853 |  | 3,423 |  | 6,685 |  | - |  | - |  | 18,080 |
Substandard (8) | - |  | - |  | - |  | 826 |  | - |  | 1,238 |  | - |  | - |  | 2,064 |
Total | $ | 46,065 |  | $ | 60,877 |  | $ | 66,036 |  | $ | 116,515 |  | $ | 87,714 |  | $ | 183,984 |  | $ | 3,367 |  | $ | - |  | $ | 564,558 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Construction and land development |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 26,125 |  | $ | 26,218 |  | $ | 16,188 |  | $ | 3,165 |  | $ | 1,562 |  | $ | 1,010 |  | $ | 3,103 |  | $ | - |  | $ | 77,371 |
Substandard (8) | - |  | - |  | 1,002 |  | 64 |  | 1,241 |  | - |  | - |  | - |  | 2,307 |
Total | $ | 26,125 |  | $ | 26,218 |  | $ | 17,190 |  | $ | 3,229 |  | $ | 2,803 |  | $ | 1,010 |  | $ | 3,103 |  | $ | - |  | $ | 79,678 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Multifamily |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 4,040 |  | $ | 6,317 |  | $ | 8,059 |  | $ | 54,547 |  | $ | 66,642 |  | $ | 48,206 |  | $ | 346 |  | $ | - |  | $ | 188,157 |
Special Mention (7) | 262 |  | - |  | - |  | 758 |  | 375 |  | 1,414 |  | - |  | - |  | 2,809 |
Substandard (8) | - |  | - |  | 208 |  | 417 |  | - |  | 1,107 |  | - |  | - |  | 1,732 |
Total | $ | 4,302 |  | $ | 6,317 |  | $ | 8,267 |  | $ | 55,722 |  | $ | 67,017 |  | $ | 50,727 |  | $ | 346 |  | $ | - |  | $ | 192,698 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | (46) |  | - |  | - |  | (46) |
Commercial business |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 4,972 |  | $ | 12,472 |  | $ | 6,226 |  | $ | 7,795 |  | $ | 4,902 |  | $ | 11,562 |  | $ | 43,819 |  | $ | - |  | $ | 91,748 |
Special Mention (7) | 47 |  | 64 |  | 326 |  | 65 |  | 24 |  | - |  | 1,234 |  | - |  | 1,760 |
Substandard (8) | 158 |  | 87 |  | 960 |  | 179 |  | 128 |  | 1,081 |  | 91 |  | - |  | 2,684 |
Total | $ | 5,177 |  | $ | 12,623 |  | $ | 7,512 |  | $ | 8,039 |  | $ | 5,054 |  | $ | 12,643 |  | $ | 45,144 |  | $ | - |  | $ | 96,192 |
Current period gross charge-off | - |  | - |  | (44) |  | - |  | - |  | (293) |  | - |  | - |  | (337) |
Consumer |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 154 |  | $ | 65 |  | $ | 86 |  | $ | 22 |  | $ | 21 |  | $ | - |  | $ | - |  | $ | - |  | $ | 348 |
Total | $ | 154 |  | $ | 65 |  | $ | 86 |  | $ | 22 |  | $ | 21 |  | $ | - |  | $ | - |  | $ | - |  | $ | 348 |
Current period gross charge-off | (33) |  | - |  | - |  | - |  | (2) |  | - |  | - |  | - |  | (35) |
Manufactured homes |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | - |  | $ | - |  | $ | - |  | $ | 1,749 |  | $ | 10,707 |  | $ | 11,826 |  | $ | - |  | $ | - |  | $ | 24,282 |
Special Mention (7) | - |  | - |  | - |  | - |  | - |  | 90 |  | - |  | - |  | $ | 90 |
Substandard (8) | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Total | $ | - |  | $ | - |  | $ | - |  | $ | 1,749 |  | $ | 10,707 |  | $ | 11,916 |  | $ | - |  | $ | - |  | $ | 24,372 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Government |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 4,810 |  | $ | 2,330 |  | $ | - |  | $ | 1,044 |  | $ | 1,077 |  | $ | 3,037 |  | $ | - |  | $ | - |  | $ | 12,298 |
Total | $ | 4,810 |  | $ | 2,330 |  | $ | - |  | $ | 1,044 |  | $ | 1,077 |  | $ | 3,037 |  | $ | - |  | $ | - |  | $ | 12,298 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
December 31, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Revolving | Revolving Converted to Term | Total
Total Loans Receivable | $ | 124,670 |  | $ | 143,098 |  | $ | 291,855 |  | $ | 308,352 |  | $ | 211,268 |  | $ | 324,738 |  | $ | 102,602 |  | $ | - |  | $ | 1,506,583 |
Total current period gross charge-off | $ | (64) |  | $ | - |  | $ | (1,010) |  | $ | (125) |  | $ | (2) |  | $ | (1,267) |  | $ | - |  | $ | - |  | (2,468) |
Residential real estate |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 13,118 |  | $ | 30,947 |  | $ | 90,324 |  | $ | 99,390 |  | $ | 102,552 |  | $ | 119,449 |  | $ | 2,468 |  | $ | - |  | $ | 458,248 |
Special Mention (7) | - |  | 371 |  | 365 |  | 1,064 |  | 554 |  | 1,937 |  | - |  | - |  | 4,291 |
Substandard (8) | - |  | 539 |  | 1,161 |  | 601 |  | 510 |  | 1,943 |  | - |  | - |  | 4,754 |
Total | $ | 13,118 |  | $ | 31,857 |  | $ | 91,850 |  | $ | 101,055 |  | $ | 103,616 |  | $ | 123,329 |  | $ | 2,468 |  | $ | - |  | $ | 467,293 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | (28) |  | - |  | - |  | (28) |
Home equity |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 193 |  | $ | 68 |  | $ | 153 |  | $ | 110 |  | $ | - |  | $ | 3,342 |  | $ | 44,943 |  | $ | - |  | $ | 48,809 |
Special Mention (7) | - |  | 132 |  | - |  | - |  | 3 |  | 15 |  | 309 |  | - |  | 459 |
Substandard (8) | 26 |  | - |  | 138 |  | - |  | - |  | 218 |  | 108 |  | - |  | 490 |
Total | $ | 219 |  | $ | 200 |  | $ | 291 |  | $ | 110 |  | $ | 3 |  | $ | 3,575 |  | $ | 45,360 |  | $ | - |  | $ | 49,758 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Commercial real estate |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 49,861 |  | $ | 67,290 |  | $ | 123,342 |  | $ | 96,206 |  | $ | 53,864 |  | $ | 148,529 |  | $ | 2,976 |  | $ | - |  | $ | 542,068 |
Special Mention (7) | 974 |  | - |  | 1,036 |  | 2,375 |  | 668 |  | 2,930 |  | 25 |  | - |  | 8,008 |
Substandard (8) | - |  | - |  | - |  | - |  | 202 |  | 1,396 |  | - |  | - |  | 1,598 |
Total | $ | 50,835 |  | $ | 67,290 |  | $ | 124,378 |  | $ | 98,581 |  | $ | 54,734 |  | $ | 152,855 |  | $ | 3,001 |  | $ | - |  | $ | 551,674 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Construction and land development |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 34,599 |  | $ | 24,360 |  | $ | 3,732 |  | $ | 7,867 |  | $ | 224 |  | $ | 820 |  | $ | 5,312 |  | $ | - |  | $ | 76,914 |
Special Mention (7) | - |  | - |  | - |  | 1,207 |  | 2,468 |  | - |  | - |  | - |  | 3,675 |
Substandard (8) | - |  | 1,018 |  | - |  | 1,267 |  | - |  | - |  | - |  | - |  | 2,285 |
Total | $ | 34,599 |  | $ | 25,378 |  | $ | 3,732 |  | $ | 10,341 |  | $ | 2,692 |  | $ | 820 |  | $ | 5,312 |  | $ | - |  | $ | 82,874 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Multifamily |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 6,398 |  | $ | 8,923 |  | $ | 56,771 |  | $ | 74,716 |  | $ | 36,075 |  | $ | 20,066 |  | $ | 627 |  | $ | - |  | $ | 203,576 |
Special Mention (7) | - |  | - |  | 780 |  | 3,332 |  | 1,217 |  | - |  | - |  | - |  | 5,329 |
Substandard (8) | - |  | - |  | 446 |  | 1,219 |  | 1,516 |  | 369 |  | - |  | - |  | 3,550 |
Total | $ | 6,398 |  | $ | 8,923 |  | $ | 57,997 |  | $ | 79,267 |  | $ | 38,808 |  | $ | 20,435 |  | $ | 627 |  | $ | - |  | $ | 212,455 |
Current period gross charge-off | - |  | - |  | - |  | (125) |  | - |  | - |  | - |  | - |  | (125) |
Commercial business |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 14,655 |  | $ | 8,123 |  | $ | 9,441 |  | $ | 6,094 |  | $ | 3,653 |  | $ | 11,416 |  | $ | 44,046 |  | $ | - |  | $ | 97,428 |
Special Mention (7) | - |  | 25 |  | 978 |  | 39 |  | - |  | 800 |  | 1,686 |  | - |  | 3,528 |
Substandard (8) | - |  | 1,139 |  | 80 |  | 171 |  | 177 |  | 1,621 |  | 102 |  | - |  | 3,290 |
Total | $ | 14,655 |  | $ | 9,287 |  | $ | 10,499 |  | $ | 6,304 |  | $ | 3,830 |  | $ | 13,837 |  | $ | 45,834 |  | $ | - |  | $ | 104,246 |
Current period gross charge-off | - |  | - |  | (1,010) |  | - |  | - |  | (1,239) |  | - |  | - |  | (2,249) |
Consumer |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 301 |  | $ | 163 |  | $ | 34 |  | $ | 51 |  | $ | - |  | $ | 2 |  | $ | - |  | $ | - |  | $ | 551 |
Substandard (8) | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Total | $ | 301 |  | $ | 163 |  | $ | 34 |  | $ | 51 |  | $ | - |  | $ | 2 |  | $ | - |  | $ | - |  | $ | 551 |
Current period gross charge-off | (64) |  | - |  | - |  | - |  | (2) |  | - |  | - |  | - |  | (66) |
Manufactured homes |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | - |  | $ | - |  | $ | 1,634 |  | $ | 11,360 |  | $ | 7,559 |  | $ | 6,101 |  | $ | - |  | $ | - |  | $ | 26,654 |
Substandard (8) | - |  | - |  | - |  | 28 |  | 26 |  | - |  | - |  | - |  | 54 |
Total | $ | - |  | $ | - |  | $ | 1,634 |  | $ | 11,388 |  | $ | 7,585 |  | $ | 6,101 |  | $ | - |  | $ | - |  | $ | 26,708 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Government |  |  |  |  |  |  |  |  |
Pass (1-6) | $ | 4,545 |  | $ | - |  | $ | 1,440 |  | $ | 1,255 |  | $ | - |  | $ | 3,784 |  | $ | - |  | $ | - |  | $ | 11,024 |
Total | $ | 4,545 |  | $ | - |  | $ | 1,440 |  | $ | 1,255 |  | $ | - |  | $ | 3,784 |  | $ | - |  | $ | - |  | $ | 11,024 |
Current period gross charge-off | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |  | - |
Schedule of Financing Receivable, Modified | The following table shows the amortized cost basis of loans at September 30, 2025, that were both experiencing financial difficulty and modified during the three and nine months ended September 30, 2025, segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to the amortized cost of each segment of financing receivable is also presented below.
|  | For the three months ended September 30, 2025
(Dollars in thousands) |  | Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | % of Total Segment Financing Receivables
Residential real estate |  | $ | - |  |  | $ | 307 |  |  | $ | - |  |  | $ | - |  |  | 0.07 | %
Commercial real estate |  | - |  |  | 390 |  |  | - |  |  | - |  |  | 0.07 | %
Total |  | $ | - |  |  | $ | 697 |  |  | $ | - |  |  | $ | - |  |  | 0.05 | %
|  | For the three months ended September 30, 2024
(Dollars in thousands) |  | Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | % of Total Segment Financing Receivables
Residential real estate |  | $ | 121 |  |  | $ | 332 |  |  | $ | - |  |  | $ | - |  |  | 0.10 | %
Total |  | $ | 121 |  |  | $ | 332 |  |  | $ | - |  |  | $ | - |  |  | 0.03 | %
|  | For the nine months ended September 30, 2025
(Dollars in thousands) |  | Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | % of Total Segment Financing Receivables
Residential real estate |  | $ | - |  |  | $ | 472 |  |  | $ | - |  |  | $ | - |  |  | 0.10 | %
Commercial real estate |  | 135 |  |  | 390 |  |  | - |  |  | - |  |  | 0.09 | %
Construction and land development |  | 654 |  |  | - |  |  | - |  |  | - |  |  | 0.82 | %
Commercial business |  | 1,053 |  |  | - |  |  | - |  |  | - |  |  | 1.09 | %
Total |  | $ | 1,842 |  |  | $ | 862 |  |  | $ | - |  |  | $ | - |  |  | 0.18 | %
|  | For the nine months ended September 30, 2024
(Dollars in thousands) |  | Payment Delay |  | Term Extension |  | Interest Rate Reduction |  | Combination Term Extension and Interest Rate Reduction |  | % of Total Segment Financing Receivables
Residential real estate |  | $ | 253 |  |  | $ | 1,807 |  |  | $ | - |  |  | $ | - |  |  | 0.44 | %
Total |  | $ | 253 |  |  | $ | 1,807 |  |  | $ | - |  |  | $ | - |  |  | 0.14 | %
The financial effects of payment delay modifications and term extension modifications had a forbearance average of five months and one hundred eighty-seven months weighted average extension to life of loan, respectively. There were no commitments to lend additional amounts to the borrowers included in the previous tables. The borrowers with term extension have had their maturity dates extended and as a result their monthly payments were reduced or had payments added to the end of the loan which resulted in payment relief.
|  | For the three months ended September 30, 2025
(Dollars in thousands) |  | Principal Forgiveness |  | Weighted average interest rate reduction |  | Weighted average term extension (months) |  | Payment delay (months)
Residential real estate |  | $ | - |  |  | — | % |  | 7 |  | -
Commercial real estate |  | $ | - |  |  | — | % |  | 180 |  | -
|  | For the three months ended September 30, 2024
(Dollars in thousands) |  | Principal Forgiveness |  | Weighted average interest rate reduction |  | Weighted average term extension (months) |  | Payment delay (months)
Residential real estate |  | $ | - |  |  | — | % |  | 4 |  | 7
|  | For the nine months ended September 30, 2025
(Dollars in thousands) |  | Principal Forgiveness |  | Weighted average interest rate reduction |  | Weighted average term extension (months) |  | Payment delay (months)
Residential real estate |  | $ | - |  |  | — | % |  | 7 |  | -
Commercial real estate |  | $ | - |  |  | — | % |  | 180 |  | 5
|  | For the nine months ended September 30, 2024
(Dollars in thousands) |  | Principal Forgiveness |  | Weighted average interest rate reduction |  | Weighted average term extension (months) |  | Payment delay (months)
Residential real estate |  | $ | - |  |  | — | % |  | 4 |  | 5
The Company closely monitors the performance of loans that have been modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables present the performance of such loans in the twelve months following modification.
| September 30, 2025
(Dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due
Residential real estate | $ | 500 |  |  | $ | - |  |  | $ | 378 |  |  | $ | 315 |
Home equity | 30 |  |  | - |  |  | - |  |  | - |
Commercial real estate | 390 |  |  | - |  |  | - |  |  | 135 |
Construction and land development | - |  |  | - |  |  | - |  |  | 654 |
Commercial business | 2 |  |  | - |  |  | - |  |  | 1,051 |
Total | $ | 922 |  |  | $ | - |  |  | $ | 378 |  |  | $ | 2,155 |
| September 30, 2024
(Dollars in thousands) | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 90 Days Past Due
Residential real estate | $ | 774 |  |  | $ | 194 |  |  | $ | 121 |  |  | $ | 132 |
Total | $ | 774 |  |  | $ | 194 |  |  | $ | 121 |  |  | $ | 132 |
Schedule of Accretable Yield from Financing Receivables | Accretable yield, or income recorded for the nine months ended September 30, is as follows:
(Dollars in thousands) | Total
2024 | $ | 649 |
2025 | 610 |
Accretable yield, or income expected to be recorded in the future is as follows:
(Dollars in thousands) | Total
Remainder of 2025 | $ | 142 |
2026 | 440 |
2027 | 296 |
2028 | 280 |
2029 | 246 |
2030 and thereafter | 2,302 |
Total | $ | 3,706 |
Schedule of Financing Receivable, Allowance for Credit Loss | The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the three months ended September 30, 2025:
(Dollars in thousands) | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provisions |  | Ending Balance
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Residential real estate | $ | 2,755 |  |  | $ | - |  |  | $ | 15 |  |  | $ | (22) |  |  | $ | 2,748 |
Home equity | 738 |  |  | - |  |  | - |  |  | (56) |  |  | 682 |
Commercial real estate | 9,150 |  |  | - |  |  | - |  |  | 86 |  |  | 9,236 |
Construction and land development | 1,495 |  |  | - |  |  | - |  |  | (345) |  |  | 1,150 |
Multifamily | 2,301 |  |  | - |  |  | 1 |  |  | 226 |  |  | 2,528 |
Commercial business | 1,603 |  |  | (276) |  |  | - |  |  | 141 |  |  | 1,468 |
Consumer | 2 |  |  | (14) |  |  | 6 |  |  | 9 |  |  | 3 |
Manufactured homes | 125 |  |  | - |  |  | - |  |  | (9) |  |  | 116 |
Government | 15 |  |  | - |  |  | - |  |  | 31 |  |  | 46 |
Total | $ | 18,184 |  |  | $ | (290) |  |  | $ | 22 |  |  | $ | 61 |  |  | $ | 17,977 |
The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the three months ended September 30, 2024:
(Dollars in thousands) | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provisions |  | Ending Balance
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Residential real estate | $ | 4,297 |  |  | $ | (28) |  |  | $ | 9 |  |  | $ | 170 |  |  | $ | 4,448 |
Home equity | 727 |  |  | - |  |  | - |  |  | 107 |  |  | 834 |
Commercial real estate | 6,903 |  |  | - |  |  | 1 |  |  | (622) |  |  | 6,282 |
Construction and land development | 3,067 |  |  | - |  |  | - |  |  | (261) |  |  | 2,806 |
Multifamily | 879 |  |  | - |  |  | - |  |  | 650 |  |  | 1,529 |
Commercial business | 2,205 |  |  | (2) |  |  | 222 |  |  | (179) |  |  | 2,246 |
Consumer | 5 |  |  | (17) |  |  | 1 |  |  | 16 |  |  | 5 |
Manufactured homes | 157 |  |  | - |  |  | - |  |  | 90 |  |  | 247 |
Government | 90 |  |  | - |  |  | - |  |  | 28 |  |  | 118 |
Total | $ | 18,330 |  |  | $ | (47) |  |  | $ | 233 |  |  | $ | - |  |  | $ | 18,516 |
The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the nine months ended September 30, 2025:
(Dollars in thousands) | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provisions |  | Ending Balance
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Residential real estate | $ | 4,481 |  |  | $ | - |  |  | $ | 50 |  |  | $ | (1,783) |  |  | $ | 2,748 |
Home equity | 835 |  |  | - |  |  | - |  |  | (153) |  |  | 682 |
Commercial real estate | 6,444 |  |  | - |  |  | 4 |  |  | 2,788 |  |  | 9,236 |
Construction and land development | 2,651 |  |  | - |  |  | - |  |  | (1,501) |  |  | 1,150 |
Multifamily | 1,003 |  |  | (46) |  |  | 11 |  |  | 1,560 |  |  | 2,528 |
Commercial business | 1,185 |  |  | (337) |  |  | 460 |  |  | 160 |  |  | 1,468 |
Consumer | 5 |  |  | (35) |  |  | 7 |  |  | 26 |  |  | 3 |
Manufactured homes | 252 |  |  | - |  |  | - |  |  | (136) |  |  | 116 |
Government | 55 |  |  | - |  |  | - |  |  | (9) |  |  | 46 |
Total | $ | 16,911 |  |  | $ | (418) |  |  | $ | 532 |  |  | $ | 952 |  |  | $ | 17,977 |
The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the nine months ended September 30, 2024:
(Dollars in thousands) | Beginning Balance |  | Charge-offs |  | Recoveries |  | Provisions |  | Ending Balance
Allowance for credit losses: |  |  |  |  |  |  |  |  |
Residential real estate | $ | 3,984 |  |  | $ | (28) |  |  | $ | 30 |  |  | $ | 462 |  |  | $ | 4,448 |
Home equity | 698 |  |  | - |  |  | - |  |  | 136 |  |  | 834 |
Commercial real estate | 7,045 |  |  | - |  |  | 3 |  |  | (766) |  |  | 6,282 |
Construction and land development | 4,206 |  |  | - |  |  | - |  |  | (1,400) |  |  | 2,806 |
Multifamily | 933 |  |  | (66) |  |  | 31 |  |  | 631 |  |  | 1,529 |
Commercial business | 1,649 |  |  | (2) |  |  | 230 |  |  | 369 |  |  | 2,246 |
Consumer | 7 |  |  | (60) |  |  | 7 |  |  | 51 |  |  | 5 |
Manufactured homes | 181 |  |  | - |  |  | - |  |  | 66 |  |  | 247 |
Government | 65 |  |  | - |  |  | - |  |  | 53 |  |  | 118 |
Total | $ | 18,768 |  |  | $ | (156) |  |  | $ | 301 |  |  | $ | (397) |  |  | $ | 18,516 |
Schedule of Collateral Dependent Loans | The table below presents the amortized cost basis and allowance for credit losses (“ACL”) allocated for collateral dependent loans in accordance with ASC 326, which are individually evaluated to determine expected credit losses.
(Dollars in thousands) |  | September 30, 2025 |  |
|  | Real Estate |  | Equipment/Inventory |  | Accounts Receivable |  | Vehicles |  | Total |  | ACL Allocation
Residential real estate |  | $ | 2,970 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 2,970 |  |  | $ | 40 |
Home equity |  | 206 |  |  | - |  |  | - |  |  | - |  |  | 206 |  |  | - |
Commercial real estate |  | 2,455 |  |  | - |  |  | - |  |  | - |  |  | 2,455 |  |  | 98 |
Construction and land development |  | 2,306 |  |  | - |  |  | - |  |  | - |  |  | 2,306 |  |  | - |
Multifamily |  | 1,732 |  |  | - |  |  | - |  |  | - |  |  | 1,732 |  |  | 407 |
Commercial business |  | - |  |  | 1,520 |  |  | 942 |  |  | 222 |  |  | 2,684 |  |  | 367 |
Total |  | $ | 9,669 |  |  | $ | 1,520 |  |  | $ | 942 |  |  | $ | 222 |  |  | $ | 12,353 |  |  | $ | 912 |
(Dollars in thousands) |  | December 31, 2024 |  |
|  | Real Estate |  | Equipment/Inventory |  | Accounts Receivable |  | Vehicles |  | Total |  | ACL Allocation
Residential real estate |  | $ | 3,012 |  |  | $ | - |  |  | $ | - |  |  | $ | - |  |  | $ | 3,012 |  |  | $ | 50 |
Home equity |  | 219 |  |  | - |  |  | - |  |  | - |  |  | 219 |  |  | - |
Commercial real estate |  | 1,598 |  |  | - |  |  | - |  |  | - |  |  | 1,598 |  |  | 43 |
Construction and land development |  | 2,285 |  |  | - |  |  | - |  |  | - |  |  | 2,285 |  |  | - |
Multifamily |  | 3,550 |  |  | - |  |  | - |  |  | - |  |  | 3,550 |  |  | - |
Commercial business |  | 712 |  |  | 1,399 |  |  | 1,428 |  |  | 144 |  |  | 3,683 |  |  | 191 |
Total |  | $ | 11,376 |  |  | $ | 1,399 |  |  | $ | 1,428 |  |  | $ | 144 |  |  | $ | 14,347 |  |  | $ | 284 |
Schedule of Financing Receivable, Nonaccrual | The following table presents non–accrual loans and loans past due over 90 days still on accrual by class of loans:
As of September 30, 2025 | Nonaccrual with No Allowance for Credit Loss | Nonaccrual with Allowance for Credit Loss | Nonaccrual Loans in Total | Loans Past Due over 90 Days Still Accruing
Residential real estate | $ | 1,705 |  | $ | 4,109 |  | $ | 5,814 |  | $ | - |
Home equity | 30 |  | 851 |  | 881 |  | - |
Commercial real estate | 1,505 |  | 559 |  | 2,064 |  | - |
Construction and land development | 717 |  | - |  | 717 |  | - |
Multifamily | 625 |  | 1,107 |  | 1,732 |  | - |
Commercial business | 2,193 |  | 491 |  | 2,684 |  | - |
Total | $ | 6,775 |  | $ | 7,117 |  | $ | 13,892 |  | $ | - |
As of December 31, 2024 | Nonaccrual with No Allowance for Credit Loss | Nonaccrual with Allowance for Credit Loss | Nonaccrual Loans in Total | Loans Past Due over 90 Days Still Accruing
Residential real estate | $ | 1,514 |  | $ | 3,150 |  | $ | 4,664 |  | $ | - |
Home equity | 179 |  | 304 |  | 483 |  | - |
Commercial real estate | 1,078 |  | 202 |  | 1,280 |  | - |
Construction and land development | 659 |  | - |  | 659 |  | - |
Multifamily | 3,362 |  | - |  | 3,362 |  | - |
Commercial business | 3,099 |  | 191 |  | 3,290 |  | - |
Total | $ | 9,891 |  | $ | 3,847 |  | $ | 13,738 |  | $ | - |
Schedule of Changes in Liability for Credit Loss on Unfunded Commitments | The following table shows the changes in the liability for credit losses on unfunded loan commitments.
(Dollars in thousands) | Three months ended, September 30, 2025 |  | Three months ended, September 30, 2024
Balance, beginning of period | $ | 2,027 |  |  | $ | 3,914 |
Provision for (benefit from) unfunded loan commitments | (361) |  |  | - |
Balance, end of period | $ | 1,666 |  |  | $ | 3,914 |
(Dollars in thousands) | Nine months ended, September 30, 2025 |  | Nine months ended, September 30, 2024
Balance, beginning of period | $ | 2,739 |  |  | $ | 3,441 |
Provision for (benefit from) unfunded loan commitments | (1,073) |  |  | 473 |
Balance, end of period | $ | 1,666 |  |  | $ | 3,914 |

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