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Off-balance-sheet Activities

6 Months Ended

Jun. 30, 2024

Note 5: Off-balance-sheet Activities

Some financial instruments, such as loan commitments, credit lines, letters of credit and overdraft protection, are issued to meet customer financing needs. These are agreements to provide credit or to support the credit of others, as long as conditions established in the contracts are met, and usually have expiration dates. Commitments may expire without being used. Off-balance-sheet risk to credit loss exists up to the face amount of these instruments, although material losses are not anticipated. The same credit policies are used to make such commitments as are used for loans, including obtaining collateral at exercise of the commitment.

A summary of the notional or contractual amounts of financial instruments with off-balance-sheet risk at the indicated dates is as follows:


	June 30,		December 31,
	2024		2023

	(In thousands)
Commercial loans unused lines of credit	$	71,044	$	93,773
Commitment to originate loans		69,766		91,710
Consumer open end lines of credit		35,939		37,024
Standby lines of credit		136		136

Allowance for Credit Losses on Off-Balance Sheet Commitments

The following table present the activity in the allowance for credit losses related to off-balance sheet commitments, that is included in interest payable and other liabilities on the consolidated statement of financial condition for the three and six months ended June 30, 2024 and 2023.


	June 30,
	2024

Balance – December 31, 2023	$	224
Provision for (reversal of) credit losses		—
Balance – March 31, 2024	$	224
Provision for (reversal of) credit losses		(130)
Balance – June 30, 2024	$	94


	June 30,
	2023

Balance – December 31, 2022	$	—
Impact of adopting ASC 326		224
Provision for (reversal of) credit losses		—
Balance – March 31, 2023	$	224
Provision for (reversal of) credit losses		—
Balance – June 30, 2023	$	224