XML 36 R29.htm IDEA: XBRL DOCUMENT v3.25.1
Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2025
Allowance For Loan Losses [Abstract]  
Schedule of Changes in the Allowance for Credit Losses

The following table summarizes all activity related to the ACL from December 31, 2024 to March 31, 2025 and to the recorded PCL for the three months ended March 31, 2025 (in thousands):

 

ACL - Loans

Reserves as of December 31, 2024

 

Q1 2025 Charge-Offs

 

Q1 2025 Recoveries

 

Q1 2025 PCL

 

Reserves as of March 31, 2025

 

Individually evaluated

$

2,485

 

$

-

 

$

-

 

$

5

 

$

2,490

 

     Overdraft

 

-

 

 

(38

)

 

9

 

 

29

 

 

-

 

     Pooled - quantitative

 

6,570

 

 

(263

)

 

20

 

 

311

 

 

6,638

 

     Pooled - qualitative

 

4,269

 

 

-

 

 

-

 

 

159

 

 

4,428

 

     Purchased

 

3,919

 

 

(207

)

 

139

 

 

-

 

 

3,851

 

Total ACL - Loans

$

17,243

 

$

(508

)

$

168

 

$

504

 

$

17,407

 

 

 

 

 

 

 

 

 

 

 

 

ACL - Held-To-Maturity

 

257

 

 

-

 

 

-

 

 

-

 

 

257

 

 

 

 

 

 

 

 

 

 

 

 

Other Liabilities - Unfunded Commitments

 

550

 

 

-

 

 

-

 

 

(47

)

 

503

 

Total ACL

$

18,050

 

$

(508

)

$

168

 

$

457

 

$

18,167

 

 

The following table summarizes all activity related to the ACL from December 31, 2023 to March 31, 2024 and to the recorded PCL for the three months ended March 31, 2024 (in thousands):

 

ACL - Loans

Reserves as of December 31, 2023

 

Q1 2024 Charge-Offs

 

Q1 2024 Recoveries

 

Q1 2024 PCL

 

Reserves as of March 31, 2024

 

Individually evaluated

$

3,716

 

$

-

 

$

-

 

$

100

 

$

3,816

 

     Overdraft

 

364

 

 

(5

)

 

4

 

 

-

 

 

363

 

     Pooled - quantitative

 

6,203

 

 

(63

)

 

34

 

 

101

 

 

6,275

 

     Pooled - qualitative

 

3,566

 

 

-

 

 

-

 

 

509

 

 

4,075

 

     Purchased

 

2,126

 

 

-

 

 

-

 

 

-

 

 

2,126

 

Total ACL - Loans

$

15,975

 

$

(68

)

$

38

 

$

710

 

$

16,655

 

 

 

 

 

 

 

 

 

 

 

 

ACL - Held-To-Maturity

 

352

 

 

-

 

 

-

 

 

15

 

 

367

 

 

 

 

 

 

 

 

 

 

 

 

Other Liabilities - Unfunded Commitments

 

589

 

 

-

 

 

-

 

 

1

 

 

590

 

Total ACL

$

16,916

 

$

(68

)

$

38

 

$

726

 

$

17,612

 

 
Schedule of Changes in the Allowance for Loan Losses An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class.

 

 

 

As of and for the three months ended March 31, 2025

 

 

 

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

first-lien

 

 

Residential

 

 

 

 

 

 

 

 

Other

 

 

Paycheck

 

 

 

residential

 

 

construction

 

 

Commercial

 

 

Commercial

 

 

commercial

 

 

Protection

 

(In thousands)

 

mortgage

 

 

mortgage

 

 

real estate

 

 

lines of credit

 

 

and industrial

 

 

Program

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

$

1,467

 

 

$

592

 

 

$

6,746

 

 

$

749

 

 

$

2,879

 

 

$

-

 

Charge-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

(92

)

 

 

(80

)

 

 

-

 

Recoveries

 

 

3

 

 

 

-

 

 

 

1

 

 

 

-

 

 

 

4

 

 

 

-

 

Provisions (credits)

 

 

(37

)

 

 

(88

)

 

 

332

 

 

 

254

 

 

 

45

 

 

 

-

 

Ending balance

 

$

1,433

 

 

$

504

 

 

$

7,079

 

 

$

911

 

 

$

2,848

 

 

$

-

 

Ending balance: related to loans
   individually evaluated

 

$

41

 

 

$

-

 

 

$

1,004

 

 

$

253

 

 

$

1,012

 

 

$

-

 

Ending balance: related to loans
   collectively evaluated

 

$

1,392

 

 

$

504

 

 

$

6,075

 

 

$

658

 

 

$

1,836

 

 

$

-

 

Loans receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

243,854

 

 

$

3,162

 

 

$

381,479

 

 

$

65,074

 

 

$

91,644

 

 

$

96

 

Ending balance: individually
   evaluated

 

$

1,170

 

 

$

-

 

 

$

10,650

 

 

$

503

 

 

$

2,945

 

 

$

-

 

Ending balance: collectively
   evaluated

 

$

242,684

 

 

$

3,162

 

 

$

370,829

 

 

$

64,571

 

 

$

88,699

 

 

$

96

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

Tax exempt

 

 

and junior liens

 

 

Consumer

 

 

Total

 

 

 

 

 

 

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

$

4

 

 

$

715

 

 

$

4,091

 

 

 

17,243

 

 

 

 

 

 

 

Charge-offs

 

 

-

 

 

 

-

 

 

 

(336

)

 

 

(508

)

 

 

 

 

 

 

Recoveries

 

 

-

 

 

 

1

 

 

 

159

 

 

 

168

 

 

 

 

 

 

 

Provisions (credits)

 

 

(2

)

 

 

(22

)

 

 

22

 

 

 

504

 

 

 

 

 

 

 

Ending balance

 

$

2

 

 

$

694

 

 

$

3,936

 

 

$

17,407

 

 

 

 

 

 

 

Ending balance: related to loans
   individually evaluated

 

$

-

 

 

$

180

 

 

$

-

 

 

$

2,490

 

 

 

 

 

 

 

Ending balance: related to loans
   collectively evaluated

 

$

2

 

 

$

514

 

 

$

3,936

 

 

$

14,917

 

 

 

 

 

 

 

Loans receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

4,446

 

 

$

52,315

 

 

$

71,681

 

 

$

913,751

 

 

 

 

 

 

 

Ending balance: individually
   evaluated

 

$

-

 

 

$

530

 

 

$

-

 

 

$

15,798

 

 

 

 

 

 

 

Ending balance: collectively
   evaluated

 

$

4,446

 

 

$

51,785

 

 

$

71,681

 

 

$

897,953

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of and for the three months ended March 31, 2024

 

 

 

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

first-lien

 

 

Residential

 

 

 

 

 

 

 

 

Other

 

 

Paycheck

 

 

 

residential

 

 

construction

 

 

Commercial

 

 

Commercial

 

 

commercial

 

 

Protection

 

(In thousands)

 

mortgage

 

 

mortgage

 

 

real estate

 

 

lines of credit

 

 

and industrial

 

 

Program

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

$

1,608

 

 

$

858

 

 

$

5,751

 

 

$

1,674

 

 

$

3,281

 

 

$

-

 

Charge-offs

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Recoveries

 

 

2

 

 

 

-

 

 

 

6

 

 

 

-

 

 

 

5

 

 

 

-

 

Provisions (credits)

 

 

9

 

 

 

(56

)

 

 

810

 

 

 

(283

)

 

 

117

 

 

 

-

 

Ending balance

 

$

1,619

 

 

$

802

 

 

$

6,567

 

 

$

1,391

 

 

$

3,403

 

 

$

-

 

Ending balance: related to loans
   individually evaluated

 

$

138

 

 

$

-

 

 

$

1,057

 

 

$

725

 

 

$

1,710

 

 

$

-

 

Ending balance: related to loans
  collectively evaluated

 

$

1,481

 

 

$

802

 

 

$

5,510

 

 

$

666

 

 

$

1,693

 

 

$

-

 

Loans receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

252,026

 

 

$

1,689

 

 

$

363,467

 

 

$

67,416

 

 

$

91,178

 

 

$

147

 

Ending balance: individually
   evaluated

 

$

2,129

 

 

$

-

 

 

$

12,138

 

 

$

1,270

 

 

$

6,849

 

 

$

-

 

Ending balance: collectively
   evaluated

 

$

249,897

 

 

$

1,689

 

 

$

351,329

 

 

$

66,146

 

 

$

84,329

 

 

$

147

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

Other

 

 

 

 

 

 

 

 

 

 

 

 

Tax exempt

 

 

and junior liens

 

 

Consumer

 

 

Total

 

 

 

 

 

 

 

Allowance for credit losses:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning Balance

 

$

1

 

 

$

657

 

 

$

2,145

 

 

$

15,975

 

 

 

 

 

 

 

Charge-offs

 

 

-

 

 

 

-

 

 

 

(68

)

 

 

(68

)

 

 

 

 

 

 

Recoveries

 

 

-

 

 

 

-

 

 

 

25

 

 

 

38

 

 

 

 

 

 

 

Provisions

 

 

1

 

 

 

5

 

 

 

107

 

 

 

710

 

 

 

 

 

 

 

Ending balance

 

$

2

 

 

$

662

 

 

$

2,209

 

 

$

16,655

 

 

 

 

 

 

 

Ending balance: related to loans
   individually evaluated

 

$

-

 

 

$

146

 

 

$

70

 

 

$

3,846

 

 

 

 

 

 

 

Ending balance: related to loans
  collectively evaluated

 

$

2

 

 

$

516

 

 

$

2,139

 

 

$

12,809

 

 

 

 

 

 

 

Loans receivables:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Ending balance

 

$

3,374

 

 

$

35,723

 

 

$

77,106

 

 

$

892,126

 

 

 

 

 

 

 

Ending balance: individually
   evaluated

 

$

-

 

 

$

715

 

 

$

70

 

 

$

23,171

 

 

 

 

 

 

 

Ending balance: collectively
   evaluated

 

$

3,374

 

 

$

35,008

 

 

$

77,036

 

 

$

868,955

 

 

 

 

 

 

 

 
Schedule of Allowance for Loan Losses on Basis of Calculation Methodology

The allocation of the allowance for credit losses summarized on the basis of the Company’s calculation methodology was as follows:

 

 

 

As of March 31, 2025

 

 

 

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

first-lien

 

 

Residential

 

 

 

 

 

 

 

 

Other

 

 

 

residential

 

 

construction

 

 

Commercial

 

 

Commercial

 

 

commercial

 

(In thousands)

 

mortgage

 

 

mortgage

 

 

real estate

 

 

lines of credit

 

 

and industrial

 

Specifically reserved

 

$

41

 

 

$

-

 

 

$

1,004

 

 

$

253

 

 

$

1,012

 

Historical loss rate

 

 

1,440

 

 

 

504

 

 

 

2,880

 

 

 

154

 

 

 

1,111

 

Qualitative factors

 

 

(48

)

 

 

-

 

 

 

3,195

 

 

 

504

 

 

 

725

 

Total

 

$

1,433

 

 

$

504

 

 

$

7,079

 

 

$

911

 

 

$

2,848

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

Other

 

 

 

 

 

 

 

 

 

Tax exempt

 

 

and junior liens

 

 

consumer

 

 

Total

 

 

 

 

Specifically reserved

 

$

-

 

 

$

392

 

 

$

3,639

 

 

$

6,341

 

 

 

 

Historical loss rate

 

 

2

 

 

 

281

 

 

 

266

 

 

 

6,638

 

 

 

 

Qualitative factors

 

 

-

 

 

 

21

 

 

 

31

 

 

 

4,428

 

 

 

 

Total

 

$

2

 

 

$

694

 

 

$

3,936

 

 

$

17,407

 

 

 

 

 

 

 

As of December 31, 2024

 

 

 

1-4 family

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

first-lien

 

 

Residential

 

 

 

 

 

 

 

 

Other

 

 

 

residential

 

 

construction

 

 

Commercial

 

 

Commercial

 

 

commercial

 

(In thousands)

 

mortgage

 

 

mortgage

 

 

real estate

 

 

lines of credit

 

 

and industrial

 

Specifically reserved

 

$

42

 

 

$

-

 

 

$

853

 

 

$

154

 

 

$

1,165

 

Historical loss rate

 

 

1,474

 

 

 

592

 

 

 

2,779

 

 

 

126

 

 

 

1,032

 

Qualitative factors

 

 

(49

)

 

 

-

 

 

 

3,114

 

 

 

469

 

 

 

682

 

Total

 

$

1,467

 

 

$

592

 

 

$

6,746

 

 

$

749

 

 

$

2,879

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Home equity

 

 

Other

 

 

 

 

 

 

 

 

 

Tax exempt

 

 

and junior liens

 

 

consumer

 

 

Total

 

 

 

 

Specifically reserved

 

$

-

 

 

$

416

 

 

$

3,774

 

 

$

6,404

 

 

 

 

Historical loss rate

 

 

4

 

 

 

278

 

 

 

285

 

 

 

6,570

 

 

 

 

Qualitative factors

 

 

-

 

 

 

21

 

 

 

32

 

 

 

4,269

 

 

 

 

Total

 

$

4

 

 

$

715

 

 

$

4,091

 

 

$

17,243

 

 

 

 
Schedule of Allowance for Credit Losses Amortized Cost

The following table details the amortized cost of collateral dependent loans at March 31, 2025 and December 31, 2024:

 

(In thousands)

March 31, 2025

 

December 31, 2024

 

Commercial and industrial

$

3,349

 

$

7,478

 

Commercial real estate

 

10,650

 

 

8,591

 

Residential (1-4 family) first mortgages

 

373

 

 

374

 

Home equity loans and lines of credit

 

504

 

 

528

 

Consumer loans

 

-

 

 

67

 

Total loans

$

14,876

 

$

17,038