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Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2025

Loans and Allowance for Credit Losses

Schedule of categories by purpose of loans


		March 31,			December 31,
		2025			2024

		(In thousands)
Commercial and Industrial		$	99,571		$	98,795
Commercial real estate			296,493			291,673
Residential real estate			92,709			91,737
Consumer loans			8,093			8,766

Total gross loans			496,866			490,971

Less allowance for credit losses			(4,095)			(4,026)

Total loans		$	492,771		$	486,945

Schedule of allowance for credit losses by collateral type and recorded investment in loans by purpose


		March 31, 2025
		Commercial and			Commercial
		Industrial			Real Estate			Residential			Installment			Total

		(In thousands)
Allowance for credit losses:

Balance, beginning of period		$	699		$	1,488		$	1,708		$	131		$	4,026
Provision for credit loss expense			19			(63)			129			11			96
Losses charged off			—			—			—			(34)			(34)
Recoveries			1			—			—			6			7
Balance, end of period		$	719		$	1,425		$	1,837		$	114		$	4,095

Ending balance: individually evaluated for credit losses		$	111		$	—		$	—		$	—		$	111
Ending balance: collectively evaluated for credit losses		$	608		$	1,425		$	1,837		$	114		$	3,984
Loans:
Ending balance: individually evaluated for credit losses		$	323		$	1,469		$	—		$	200		$	1,992
Ending balance: collectively evaluated for credit losses		$	99,248		$	295,024		$	92,709		$	7,893		$	494,874


		March 31, 2024
		Commercial and			Commercial
		Industrial			Real Estate			Residential			Installment			Total

		(In thousands)
Allowance for credit losses:

Balance, beginning of period		$	573		$	1,408		$	1,843		$	94		$	3,918
Provision for credit loss expense			15			(31)			(60)			76			—
Losses charged off			—			—			—			(57)			(57)
Recoveries			1			—			—			8			9
Balance, end of period		$	589		$	1,377		$	1,783		$	121		$	3,870

Ending balance: individually evaluated for credit losses		$	75		$	—		$	—		$	—		$	75
Ending balance: collectively evaluated for credit losses		$	514		$	1,377		$	1,783		$	121		$	3,795
Loans:
Ending balance: individually evaluated for credit losses		$	141		$	8		$	235		$	—		$	384
Ending balance: collectively evaluated for losses		$	90,086		$	288,878		$	92,477		$	8,482		$	479,923


					December 31, 2024
		Commercial and			Commercial
		Industrial			Real Estate			Residential			Installment			Total

		(In thousands)
Allowance for credit losses:
Ending balance: individually evaluated for impairment		$	—		$	—		$	—		$	—		$	—
Ending balance: collectively evaluated for impairment		$	699		$	1,488		$	1,708		$	131		$	4,026

Loans:
Ending balance: individually evaluated for impairment		$	—		$	—		$	220		$	—		$	220
Ending balance: collectively evaluated for impairment		$	98,795		$	291,673		$	91,517		$	8,766		$	490,751

Schedule of portfolio quality indicators

Based on the most recent analysis performed, the following table presents the recorded investment in non-homogeneous loans by internal risk rating system as of March 31, 2025 (in thousands):


																				Revolving			Revolving
																				Loans			Loans
																				Amortized			Converted
March 31, 2025		2025			2024			2023			2022			2021			Prior			Cost Basis			to Term			Total
Commercial and Industrial
Risk Rating
Pass		$	6,512		$	21,013		$	17,007		$	10,640		$	7,088		$	18,425		$	17,491		$	—		$	98,176
Special Mention			—			—			—			—			—			—			1,072			—			1,072
Substandard			—			—			41			26			—			186			70			—			323
Doubtful			—			—			—			—			—			—			—			—			—
Total		$	6,512		$	21,013		$	17,048		$	10,666		$	7,088		$	18,611		$	18,633		$	—		$	99,571

Commercial and Industrial
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Commercial real estate
Risk Rating
Pass		$	11,377		$	19,453		$	32,301		$	32,347		$	36,169		$	95,886		$	54,180		$	—		$	281,713
Special Mention			—			—			—			315			—			6,654			6,342			—			13,311
Substandard			—			—			—			—			377			1,092			—			—			1,469
Doubtful			—			—			—			—			—			—			—			—			—
Total		$	11,377		$	19,453		$	32,301		$	32,662		$	36,546		$	103,632		$	60,522		$	—		$	296,493

Commercial real estate
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Total
Pass		$	17,889		$	40,466		$	49,308		$	42,987		$	43,257		$	114,311		$	71,671		$	—		$	379,889
Special Mention			—			—			—			315			—			6,654			7,414			—			14,383
Substandard			—			—			41			26			377			1,278			70			—			1,792
Doubtful			—			—			—			—			—			—			—			—			—
Total		$	17,889		$	40,466		$	49,349		$	43,328		$	43,634		$	122,243		$	79,155		$	—		$	396,064
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—


																				Revolving			Revolving
																				Loans			Loans
																				Amortized			Converted
March 31, 2025		2025			2024			2023			2022			2021			Prior			Cost Basis			to Term			Total
Residential Real Estate
Payment Performance
Performing		$	2,414		$	9,410		$	10,234		$	16,772		$	14,846		$	38,769		$	—		$	—		$	92,445
Nonperforming			—			—			21			—			16			227			—			—			264
Total		$	2,414		$	9,410		$	10,255		$	16,772		$	14,862		$	38,996		$	—		$	—		$	92,709

Residential real estate
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Consumer
Payment Performance
Performing		$	418		$	4,099		$	1,199		$	698		$	305		$	980		$	375		$	—		$	8,074
Nonperforming			—			—			2			—			—			17			—			—			19
Total		$	418		$	4,099		$	1,201		$	698		$	305		$	997		$	375		$	—		$	8,093

Consumer
Current period gross charge-offs		$	34		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	34

Total
Payment Performance
Performing		$	2,632		$	13,509		$	11,433		$	17,470		$	15,151		$	39,752		$	375		$	—		$	100,322
Nonperforming			—			—			23			—			16			241			—			—			280
Total		$	2,632		$	13,509		$	11,456		$	17,470		$	15,167		$	39,993		$	375		$	—		$	100,602

The following tables show the portfolio quality indicators.

Based on the most recent analysis performed, the following table presents the recorded investment in non-homogeneous loans by internal risk rating system as of December 31, 2024 (in thousands):


																				Revolving			Revolving
																				Loans			Loans
																				Amortized			Converted
December 31, 2024		2024			2023			2022			2021			2020			Prior			Cost Basis			to Term			Total
Commercial and industrial
Risk Rating
Pass		$	22,474		$	17,993		$	11,487		$	8,082		$	10,099		$	8,295		$	19,068		$	—		$	97,498
Special Mention			—			—			26			—			—			185			1,086			—			1,297
Substandard			—			—			—			—			—			—			—			—			—
Doubtful			—			—			—			—			—			—			—			—			—
Total		$	22,474		$	17,993		$	11,513		$	8,082		$	10,099		$	8,480		$	20,154		$	—		$	98,795

Commercial and industrial
Current period gross charge-offs		$	—		$	127		$	—		$	—		$	—		$	—		$	—		$	—		$	127

Commercial real estate
Risk Rating
Pass		$	19,554		$	30,858		$	32,972		$	36,870		$	31,461		$	68,279		$	57,096		$	—		$	277,090
Special Mention			—			—			315			242			—			7,781			6,229			—			14,567
Substandard			—			—			—			—			—			16			—			—			16
Doubtful			—			—			—			—			—			—			—			—			—
Total		$	19,554		$	30,858		$	33,287		$	37,112		$	31,461		$	76,076		$	63,325		$	—		$	291,673

Commercial real estate
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	—

Total
Pass		$	42,028		$	48,851		$	44,459		$	44,952		$	41,560		$	76,574		$	76,164		$	—		$	374,588
Special Mention			—			—			341			242			—			7,966			7,315			—			15,864
Substandard			—			—			—			—			—			16			—			—			16
Doubtful			—			—			—			—			—			—			—			—			—
Total		$	42,028		$	48,851		$	44,800		$	45,194		$	41,560		$	84,556		$	83,479		$	—		$	390,468
Current period gross charge-offs		$	—		$	127		$	—		$	—		$	—		$	—		$	—		$	—		$	127


																				Revolving			Revolving
																				Loans			Loans
																				Amortized			Converted
December 31, 2024		2024			2023			2022			2021			2020			Prior			Cost Basis			to Term			Total
Residential Real Estate
Payment Performance
Performing		$	9,480		$	10,469		$	16,912		$	15,174		$	17,401		$	21,993		$	—		$	—		$	91,429
Nonperforming			—			22			—			17			—			269			—			—			308
Total		$	9,480		$	10,491		$	16,912		$	15,191		$	17,401		$	22,262		$	—		$	—		$	91,737

Residential real estate
Current period gross charge-offs		$	—		$	—		$	—		$	—		$	—		$	17		$	—		$	—		$	17

Consumer
Payment Performance
Performing		$	4,619		$	1,427		$	798		$	349		$	275		$	907		$	376		$	—		$	8,751
Nonperforming			—			—			—			—			15			—			—			—			15
Total		$	4,619		$	1,427		$	798		$	349		$	290		$	907		$	376		$	—		$	8,766

Consumer
Current period gross charge-offs		$	144		$	72		$	—		$	—		$	—		$	—		$	—		$	—		$	216

Total
Payment Performance
Performing		$	14,099		$	11,896		$	17,710		$	15,523		$	17,676		$	22,900		$	376		$	—		$	100,180
Nonperforming			—			22			—			17			15			269			—			—			323
Total		$	14,099		$	11,918		$	17,710		$	15,540		$	17,691		$	23,169		$	376		$	—		$	100,503
Current period gross charge-offs		$	144		$	72		$	—		$	—		$	—		$	17		$	—		$	—		$	233

Schedule of loan portfolio aging analysis

Loan Portfolio Aging Analysis

As of March 31, 2025


		30-59 Days			60‑89 Days			Greater
		Past Due			Past Due			Than 90 Days						Total Past
		and			and			and						Due and						Total Loans
		Accruing			Accruing			Accruing			Non Accrual			Non Accrual			Current			Receivable

		(In thousands)
Commercial and Industrial		$	27		$	—		$	—		$	323		$	350		$	99,221		$	99,571
Commercial real estate			338			—			—			1,335			1,673			294,820			296,493
Residential			443			30			—			264			737			91,972			92,709
Installment			58			5			3			16			82			8,011			8,093
Total		$	866		$	35		$	3		$	1,938		$	2,842		$	494,024		$	496,866

Loan Portfolio Aging Analysis

As of December 31, 2024


		30‑59 Days			60‑89 Days			Greater
		Past Due			Past Due			Than 90 Days						Total Past
		and			and			and						Due and						Total Loans
		Accruing			Accruing			Accruing			Non Accrual			Non Accrual			Current			Receivable

		(In thousands)
Commercial and Insustrial		$	—		$	43		$	41		$	170		$	254		$	98,541		$	98,795
Commercial real estate			48			—			—			258			306			291,367			291,673
Residential			95			30			—			308			433			91,304			91,737
Installment			15			2			15			—			32			8,734			8,766
Total		$	158		$	75		$	56		$	736		$	1,025		$	489,946		$	490,971

Schedule of amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest

The following table present the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of March 31, 2025:


											Loans Past
											Due Over 90 Days			Total
		Nonaccrual with no ACL			Nonaccrual with ACL			Total Nonaccrual			Still Accruing			Nonperforming

		(In thousands)
Commercial and Industrial		$	211		$	112		$	323		$	—		$	323
Commercial real estate			1,335			—			1,335			—			1,335
Residential			264			—			264			—			264
Installment			16			—			16			3			19
Total		$	1,826		$	112		$	1,938		$	3		$	1,941

The following table present the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of December 31, 2024:


											Loans Past
											Due Over 90 Days			Total
		Nonaccrual with no ACL			Nonaccrual with ACL			Total Nonaccrual			Still Accruing			Nonperforming

		(In thousands)
Commercial and Industrial		$	170		$	—		$	170		$	41		$	211
Commercial real estate			258			—			258			—			258
Residential			308			—			308			—			308
Consumer			—			—			—			15			15
Total		$	736		$	—		$	736		$	56		$	792