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Loans, Leases and Allowance (Tables)

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The following table shows the composition of the loan and lease portfolio at March 31, 2026 and December 31, 2025:

			March 31, 2026						December 31, 2025
Commercial mortgage			$	414,875					$	414,316
Commercial and industrial			145,214						142,508
Construction and development			74,318						71,705
Multi-family			208,034						208,894
Residential mortgage			166,257						171,063
Home equity lines of credit			21,398						20,147
Direct financing leases			142,979						145,806
Consumer			18,179						19,280
			1,191,254						1,193,719
Less
Allowance for credit losses on loans and leases			16,740						16,466
Deferred loan fees			392						440
			$	1,174,122					$	1,176,813

Schedule of Financing Receivable Credit Quality Indicators

The following tables present the credit risk profile of the Company’s loan and lease portfolio based on rating category, payment activity, and origination year as of March 31, 2026 and December 31, 2025:

			2026						2025						2024						2023						2022						Prior						Revolving loans amortized cost basis						Total
As of March 31, 2026:
Commercial mortgage
Pass			$	4,220					$	66,928					$	30,684					$	41,649					$	80,511					$	136,857					$	45,505					$	406,354
Special Mention			873						—						—						—						—						—						—						873
Substandard			—						—						—						—						—						7,648						—						7,648
Total Commercial mortgage			5,093						66,928						30,684						41,649						80,511						144,505						45,505						414,875
Current period gross charge-offs			—						—						—						—						—						—						—						—
Commercial and industrial
Pass			5,127						23,299						13,967						20,297						5,497						20,067						55,166						143,420
Substandard			—						—						—						—						137						29						1,628						1,794
Total Commercial and industrial			5,127						23,299						13,967						20,297						5,634						20,096						56,794						145,214
Current period gross charge-offs			—						—						—						—						—						—						—						—
Construction and development
Pass			7,680						36,194						6,735						1,913						1,509						15,387						—						69,418
Substandard			—						—						—						—						—						4,900						—						4,900
Total Construction and development			7,680						36,194						6,735						1,913						1,509						20,287						—						74,318
Current period gross charge-offs			—						—						—						—						—						—						—						—
Multi-family
Pass			1,840						19,004						16,966						11,005						60,392						64,027						27,649						200,883
Substandard			—						—						—						—						2,362						4,789						—						7,151
Total Multi-family			1,840						19,004						16,966						11,005						62,754						68,816						27,649						208,034
Current period gross charge-offs			—						—						—						—						—						—						—						—
Residential mortgage
Pass			2,852						21,079						13,536						29,155						24,279						69,537						4,077						164,515
Substandard			—						—						—						107						46						1,589						—						1,742
Total Residential mortgage			2,852						21,079						13,536						29,262						24,325						71,126						4,077						166,257
Current period gross charge-offs			—						—						—						—						—						—						—						—
Home equity
Pass			59						45						—						222						—						57						20,973						21,356
Special Mention			—						—						—						—						—						—						30						30
Substandard			—						—						—						—						—						—						12						12
Total Home equity lines of credit			59						45						—						222						—						57						21,015						21,398
Current period gross charge-offs			—						—						—						—						—						—						—						—
Direct financing leases
Pass			14,718						54,920						33,251						26,709						9,755						2,257						—						141,610
Substandard			—						31						16						166						59						13						—						285
Doubtful			—						76						239						530						220						19						—						1,084
Total Direct financing leases			14,718						55,027						33,506						27,405						10,034						2,289						—						142,979
Current period gross charge-offs			—						14						120						304						37						63						—						538
Consumer
Pass			1,203						5,550						4,150						3,331						2,553						1,340						—						18,127
Substandard			—						—						—						21						19						12						—						52
Total Consumer			1,203						5,550						4,150						3,352						2,572						1,352						—						18,179
Current period gross charge-offs			7						—						—						4						—						—						—						11
Total Loans and Leases			$	38,572					$	227,126					$	119,544					$	135,105					$	187,339					$	328,528					$	155,040					$	1,191,254
Total current period gross charge-offs			$	7					$	14					$	120					$	308					$	37					$	63					$	—					$	549

			2025						2024						2023						2022						2021						Prior						Revolving loans amortized cost basis						Total
As of December 31, 2025:
Commercial mortgage
Pass			$	65,746					$	28,457					$	43,078					$	81,156					$	38,485					$	104,920					$	44,820					$	406,662
Substandard			—						—						—						—						7,654						—						—						7,654
Total Commercial mortgage			65,746						28,457						43,078						81,156						46,139						104,920						44,820						414,316
Current period gross charge-offs			—						—						—						—						—						—						—						—
Commercial and industrial
Pass			24,361						14,524						21,342						6,601						9,148						11,218						53,505						140,699
Substandard			—						—						—						173						—						30						1,606						1,809
Total Commercial and industrial			24,361						14,524						21,342						6,774						9,148						11,248						55,111						142,508
Current period gross charge-offs			—						—						—						—						2						—						—						2
Construction and development
Pass			31,478						14,823						1,914						1,516						15,946						105						—						65,782
Special Mention			—						—						429						594						—						—						—						1,023
Substandard			—						—						—						—						—						4,900						—						4,900
Total Construction and development			31,478						14,823						2,343						2,110						15,946						5,005						—						71,705
Current period gross charge-offs			—						—						—						—						—						—						—						—
Multi-family
Pass			19,060						16,545						10,946						62,286						46,369						20,269						26,246						201,721
Substandard			—						—						—						2,362						1,355						3,456						—						7,173
Total Multi-family			19,060						16,545						10,946						64,648						47,724						23,725						26,246						208,894
Current period gross charge-offs			—						—						—						—						—						—						—						—
Residential mortgage
Pass			25,873						14,224						29,613						24,979						25,038						46,869						2,944						169,540
Substandard			—						—						234						—						446						843						—						1,523
Total Residential mortgage			25,873						14,224						29,847						24,979						25,484						47,712						2,944						171,063
Current period gross charge-offs			—						—						—						—						—						—						—						—
Home equity
Pass			48						—						224						—						57						—						19,730						20,059
Substandard			—						—						—						—						—						—						88						88
Total Home equity lines of credit			48						—						224						—						57						—						19,818						20,147
Current period gross charge-offs			—						—						—						—						—						—						—						—
Direct financing leases
Pass			59,587						37,199						31,748						12,243						3,128						604						—						144,509
Substandard			—						64						225						232						61						—						—						582
Doubtful			40						212						392						38						33						—						—						715
Total Direct financing leases			59,627						37,475						32,365						12,513						3,222						604						—						145,806
Current period gross charge-offs			9						260						961						413						291						23						—						1,957
Consumer
Pass			6,246						4,586						3,793						2,933						1,163						391						122						19,234
Substandard			—						—						24						—						22						—						—						46
Total Consumer			6,246						4,586						3,817						2,933						1,185						391						122						19,280
Current period gross charge-offs			51						19						55						72						9						23						—						229
Total Loans and Leases			$	232,439					$	130,634					$	143,962					$	195,113					$	148,905					$	193,605					$	149,061					$	1,193,719
Total current period gross charge-offs			$	60					$	279					$	1,016					$	485					$	302					$	46					$	—					$	2,188

Schedule of Loans Classified by Aging Analysis

The following tables present the Company’s loan and lease portfolio aging analysis of the recorded investment in loans and leases as of March 31, 2026 and December 31, 2025:

			March 31, 2026
			Delinquent Loans and Leases																								Current						Total Portfolio Loans and Leases						Total Loans and Leases > 90 Days Accruing
			30-59 Days Past Due						60-89 Days Past Due						90 Days and Over						Total Past Due
Commercial mortgage			$	—					$	873					$	7,435					$	8,308					$	406,567					$	414,875					$	—
Commercial and industrial			—						—						—						—						145,214						145,214						—
Construction and development			—						—						4,900						4,900						69,418						74,318						—
Multi-family			3,458						—						2,362						5,820						202,214						208,034						—
Residential mortgage			739						701						1,742						3,182						163,075						166,257						1,665
Home equity			199						7						13						219						21,179						21,398						13
Direct financing leases			149						62						—						211						142,768						142,979						—
Consumer			30						79						52						161						18,018						18,179						52
Totals			$	4,575					$	1,722					$	16,504					$	22,801					$	1,168,453					$	1,191,254					$	1,730

			December 31, 2025
			Delinquent Loans and Leases																								Current						Total Portfolio Loans and Leases						Total Loans and Leases > 90 Days Accruing
			30-59 Days Past Due						60-89 Days Past Due						90 Days and Over						Total Past Due
Commercial mortgage			$	—					$	—					$	7,435					$	7,435					$	406,881					$	414,316					$	—
Commercial and industrial			—						—						—						—						142,508						142,508						—
Construction and development			—						—						4,900						4,900						66,805						71,705						—
Multi-family			—						—						2,362						2,362						206,532						208,894						2,362
Residential mortgage			773						481						1,522						2,776						168,287						171,063						1,445
Home equity			126						70						88						284						19,863						20,147						88
Direct financing leases			511						296						299						1,106						144,700						145,806						299
Consumer			148						50						46						244						19,036						19,280						46
Totals			$	1,558					$	897					$	16,652					$	19,107					$	1,174,612					$	1,193,719					$	4,240

Schedule of Financing Receivable, Nonaccrual

The following table presents information on the Company’s nonaccrual loans and leases at March 31, 2026 and December 31, 2025:

			March 31, 2026												December 31, 2025
			Nonaccrual loans and leases						Nonaccrual loans and leases without an allowance for credit losses						Nonaccrual loans and leases						Nonaccrual loans and leases without an allowance for credit losses
Commercial mortgage			$	7,436					$	6,732					$	7,435					$	6,732
Commercial and industrial			29						—						30						—
Construction and development			4,900						—						4,900						—
Multi-family			2,362						2,362						—						—
Residential mortgage			76						76						76						76
Direct financing leases			1,084						1,084						715						715
Total nonaccrual loans and leases			$	15,887					$	10,254					$	13,156					$	7,523

The following tables present the Company's amortized cost basis of collateral dependent loans, and their respective collateral type, which are individually analyzed to determine expected credit losses as of March 31, 2026 and December 31, 2025:

			March 31, 2026
			Commercial Real Estate						Multi-family Housing						Residential Real Estate						Home Equity Line of Credit						Other						Total						Allowance on Collateral Dependent Loans
Commercial mortgage			$	8,309					$	—					$	—					$	—					$	—					$	8,309					$	460
Commercial and industrial			—						—						—						—						1,628						1,628						—
Construction and development			4,900						—						—						—						—						4,900						1,750
Multi-family			—						7,151						—						—						—						7,151						250
Residential mortgage			—						—						240						—						—						240						—
Home equity			—						—						—						30						—						30						—
Total			$	13,209					$	7,151					$	240					$	30					$	1,628					$	22,258					$	2,460

			December 31, 2025
			Commercial Real Estate						Multi-family Housing						Residential Real Estate						Other						Total						Allowance on Collateral Dependent Loans
Commercial mortgage			$	7,435					$	—					$	—					$	—					$	7,435					$	150
Commercial and industrial			—						—						—						1,607						1,607						—
Construction and development			5,923						—						—						—						5,923						1,750
Multi-family			—						7,174						—						—						7,174						250
Residential mortgage			—						—						124						—						124						—
Total			$	13,358					$	7,174					$	124					$	1,607					$	22,263					$	2,150

Schedule of Direct Financing Lease, Lease Income

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

			March 31, 2026						December 31, 2025
Total minimum lease payments to be received			$	163,342					$	166,565
Initial direct costs			9,192						9,422
			172,534						175,987
Less: Unearned income			(29,555)						(30,181)
Net investment in direct finance leases			$	142,979					$	145,806

Schedule of Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity

The following table summarizes the future minimum lease payments receivable subsequent to March 31, 2026:

Remainder of 2026			$	49,542
2027			51,705
2028			35,090
2029			19,014
2030			7,302
Thereafter			689
			$	163,342

Schedule of Financing Receivable, Allowance for Credit Loss

The following tables summarize changes in the allowance for credit losses by segment for the three months ended March 31, 2026 and 2025, respectively:

			Balances, December 31, 2025						Provision for (reversal of) credit losses						Charge-offs						Recoveries						Balances, March 31, 2026
Commercial mortgage			$	4,575					$	238					$	—					$	—					$	4,813
Commercial and industrial			1,812						(14)						—						10						1,808
Construction and development			2,298						165						—						—						2,463
Multi-family			2,336						(9)						—						—						2,327
Residential mortgage			1,833						(47)						—						1						1,787
Home equity			189						11						—						—						200
Direct financing leases			3,075						292						(538)						177						3,006
Consumer			348						(15)						(11)						14						336
Total			$	16,466					$	621					$	(549)					$	202					$	16,740

			Balances, December 31, 2024						Provision for (reversal of) credit losses						Charge-offs						Recoveries						Balances, March 31, 2025
Commercial mortgage			$	4,486					$	248					$	—					$	—					$	4,734
Commercial and industrial			1,483						138						—						2						1,623
Construction and development			2,243						(242)						—						—						2,001
Multi-family			2,660						147						—						—						2,807
Residential mortgage			1,910						(29)						—						20						1,901
Home equity			184						12						—						—						196
Direct financing leases			2,469						409						(518)						107						2,467
Consumer			356						—						(40)						33						349
Total			$	15,791					$	683					$	(558)					$	162					$	16,078

The following table details activity in the allowance for credit losses on unfunded commitments during the three months ended March 31, 2026 and 2025:

			Three Months Ended March 31,
			2026						2025
Beginning balance			$	328					$	558
Provision for credit losses			72						48
Ending balance			$	400					$	606

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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
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-Section 50
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