Loans And Allowance For Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

Loans And Allowance For Credit Losses [Abstract]


	As of	As of
	September 30, 2024	December 31, 2023
Commercial	$ 60,342	$ 65,324
Commercial Real Estate:
Commercial Mortgages-Owner Occupied	143,791	131,519
Commercial Mortgages-Non-Owner Occupied	189,977	175,344
Commercial Construction/Land	22,358	21,966
Consumer:
Consumer Open-End	47,919	50,282
Consumer Closed-End	27,171	26,235
Residential:
Residential Mortgages	114,989	106,990
Residential Consumer Construction/Land	27,643	31,673

Total loans	$ 634,190	$ 609,333

Less allowance for credit losses	7,078	7,412

Net loans	$ 627,112	$ 601,921

Amortized Cost Basis Of Collateral Dependent Loans


Collateral Dependent Loans	September 30, 2024
(dollars in thousands)	Business/Other Assets	Real Estate
Commercial	$ 3,866	$ -
Commercial Real Estate	-	8,409
Consumer	-	605
Residential	-	1,261
Total	$ 3,866	$ 10,275


Collateral Dependent Loans	December 31, 2023
(dollars in thousands)	Business/Other Assets	Real Estate
Commercial	$ 313	$ -
Commercial Real Estate	-	3,566
Consumer	-	329
Residential	-	1,105
Total	$ 313	$ 5,000

Allowance For Credit Losses And Recorded Investment In Loans


	Allowance for Credit Losses
	(dollars in thousands)
	As of and For the Three Months Ended September 30, 2024
		Commercial
2024	Commercial	Real Estate	Consumer	Residential	Total

Allowance for Credit Losses:
Beginning Balance, June 30, 2024	$ 606	$ 3,748	$ 897	$ 1,700	$ 6,951
Charge-Offs	-	-	-	-	-
Recoveries	1	2	18	-	21
Provision for (recovery of)	(118)	165	(17)	76	106
Ending Balance, September 30, 2024	$ 489	$ 3,915	$ 898	$ 1,776	$ 7,078

	As of and For the Nine Months Ended September 30, 2024
	(dollars in thousands)
		Commercial
2024	Commercial	Real Estate	Consumer	Residential	Total
Allowance for Credit Losses:

Beginning Balance, December 31, 2023	$ 514	$ 3,985	$ 1,093	$ 1,820	$ 7,412
Charge-Offs	(8)	-	(76)	-	(84)
Recoveries	199	6	38	1	244
Recovery of	(216)	(76)	(157)	(45)	(494)
Ending Balance, September 30, 2024	$ 489	$ 3,915	$ 898	$ 1,776	$ 7,078


	Allowance for Credit Losses
	(dollars in thousands)
	As of and For the Three Months Ended September 30, 2023
		Commercial
2023	Commercial	Real Estate	Consumer	Residential	Total
Allowance for Credit Losses:

Beginning Balance, June 30, 2023	$ 571	$ 4,052	$ 1,161	$ 1,802	$ 7,586
Charge-Offs	(120)	-	(24)	-	(144)
Recoveries	2	1	3	2	8
Provision for (recovery of)	59	(90)	(34)	(65)	(130)
Ending Balance, September 30, 2023	$ 512	$ 3,963	$ 1,106	$ 1,739	$ 7,320

	As of and For the Nine Months Ended September 30, 2023
	(dollars in thousands)
		Commercial
2023	Commercial	Real Estate	Consumer	Residential	Total
Allowance for Credit Losses:

Beginning Balance, December 31, 2022	$ 1,102	$ 2,902	$ 904	$ 1,351	$ 6,259
Adoption of ASU 2016-13	(526)	1,157	257	357	1,245
Charge-Offs	(137)	-	(56)	(3)	(196)
Recoveries	50	91	42	17	200
Provision for (recovery of)	23	(187)	(41)	17	(188)
Ending Balance, September 30, 2023	$ 512	$ 3,963	$ 1,106	$ 1,739	$ 7,320

Amortized Cost Basis By Origination Year


	Term Loans Amortized Cost Basis by Origination Year
	2024	2023	2022	2021	2020	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Commercial:
Risk Rating
Pass	$ 8,413	$ 3,897	$ 3,677	$ 7,693	$ 1,419	$ 13,805	$ 16,780	$ 29	$ 55,713
Special Mention	68	-	45	84	121	2	384	-	704
Substandard	-	933	14	220	-	106	2,477	175	3,925
Total	$ 8,481	$ 4,830	$ 3,736	$ 7,997	$ 1,540	$ 13,913	$ 19,641	$ 204	$ 60,342

Commercial Real Estate:
Commercial Mort. - Owner Occupied
Risk Rating
Pass	$ 20,272	$ 9,132	$ 21,849	$ 40,684	$ 7,271	$ 36,987	$ 826	$ 155	$ 137,176
Special Mention	-	-	-	-	-	700	-	-	700
Substandard	-	93	-	2,945	44	2,833	-	-	5,915
Total	$ 20,272	$ 9,225	$ 21,849	$ 43,629	$ 7,315	$ 40,520	$ 826	$ 155	$ 143,791

Commercial Mort. - Non-Owner Occupied
Risk Rating
Pass	$ 32,420	$ 12,360	$ 49,899	$ 27,855	$ 9,828	$ 50,634	$ 5,808	$ -	$ 188,804
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	-	-	1,173	-	-	-	1,173
Total	$ 32,420	$ 12,360	$ 49,899	$ 27,855	$ 11,001	$ 50,634	$ 5,808	$ -	$ 189,977

Commercial Construction/Land
Risk Rating
Pass	$ 3,906	$ 2,804	$ 774	$ 9,577	$ 2,035	$ 1,038	$ 904	$ -	$ 21,038
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	957	363	-	-	-	-	1,320
Total	$ 3,906	$ 2,804	$ 1,731	$ 9,940	$ 2,035	$ 1,038	$ 904	$ -	$ 22,358

Consumer:
Consumer - Open-End
Risk Rating
Pass	$ -	$ -	$ -	$ -	$ -	$ -	$ 46,021	$ 1,471	$ 47,492
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	-	-	-	-	427	-	427
Total	$ -	$ -	$ -	$ -	$ -	$ -	$ 46,448	$ 1,471	$ 47,919

Consumer - Closed-End
Risk Rating
Pass	$ 4,413	$ 4,757	$ 9,907	$ 426	$ 434	$ 6,795	$ -	$ -	$ 26,732
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	38.00	-	209	-	-	192	-	-	439
Total	$ 4,451	$ 4,757	$ 10,116	$ 426	$ 434	$ 6,987	$ -	$ -	$ 27,171

Residential:
Residential Mortgages
Risk Rating
Pass	$ 17,828	$ 24,198	$ 23,223	$ 9,166	$ 8,551	$ 30,003	$ -	$ -	$ 112,969
Special Mention	-	-	-	-	-	398	-	-	398
Substandard	-	-	270	-	103	1,249	-	-	1,622
Total	$ 17,828	$ 24,198	$ 23,493	$ 9,166	$ 8,654	$ 31,650	$ -	$ -	$ 114,989


Residential Consumer Constr./Land
Risk Rating
Pass	$ 9,853	$ 8,854	$ 2,908	$ 1,201	$ 859	$ 3,968	$ -	$ -	$ 27,643
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	-	-	-	-	-	-	-
Total	$ 9,853	$ 8,854	$ 2,908	$ 1,201	$ 859	$ 3,968	$ -	$ -	$ 27,643

Totals:
Risk Rating
Pass	$ 97,105	$ 66,002	$ 112,237	$ 96,602	$ 30,397	$ 143,230	$ 70,339	$ 1,655	$ 617,567
Special Mention	68	-	45	84	121	1,100	384	-	1,802
Substandard	38	1,026	1,450	3,528	1,320	4,380	2,904	175	14,821
Total	$ 97,211	$ 67,028	$ 113,732	$ 100,214	$ 31,838	$ 148,710	$ 73,627	$ 1,830	$ 634,190

‎

Note 8 – Loans and allowance for credit losses (continued)

The table below details the amortized cost of the classes of loans by credit quality indicator and year of origination as of December 31, 2023.


	Term Loans Amortized Cost Basis by Origination Year
	2023	2022	2021	2020	2019	Prior	Revolving Loans Amortized Cost Basis	Revolving Loans Converted to Term	Total
Commercial
Risk Rating
Pass	$ 6,086	$ 4,559	$ 9,091	$ 6,067	$ 2,754	$ 18,429	$ 17,302	$ 39	$ 64,327
Special Mention	100	-	-	132	-	-	382	-	614
Substandard	-	18	51	-	6	127	-	181	383
Total	$ 6,186	$ 4,577	$ 9,142	$ 6,199	$ 2,760	$ 18,556	$ 17,684	$ 220	$ 65,324

Commercial Real Estate:
Commercial Mort. - Owner Occupied
Risk Rating
Pass	$ 10,260	$ 23,120	$ 45,838	$ 7,972	$ 8,988	$ 31,254	$ 1,471	$ 159	$ 129,062
Special Mention	-	-	-	-	-	456	-	-	456
Substandard	94	-	-	45	283	1,579	-	-	2,001
Total	$ 10,354	$ 23,120	$ 45,838	$ 8,017	$ 9,271	$ 33,289	$ 1,471	$ 159	$ 131,519

Commercial Mort. - Non-Owner Occupied
Risk Rating
Pass	$ 13,069	$ 52,341	$ 35,419	$ 10,210	$ 4,397	$ 52,583	$ 6,152	$ -	$ 174,171
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	-	1,173	-	-	-	-	1,173
Total	$ 13,069	$ 52,341	$ 35,419	$ 11,383	$ 4,397	$ 52,583	$ 6,152	$ -	$ 175,344

Commercial Construction/Land
Risk Rating
Pass	$ 1,848	$ 3,157	$ 9,869	$ 2,842	$ 628	$ 463	$ 2,768	$ -	$ 21,575
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	391	-	-	-	-	-	391
Total	$ 1,848	$ 3,157	$ 10,260	$ 2,842	$ 628	$ 463	$ 2,768	$ -	$ 21,966

Consumer:
Consumer - Open-End
Risk Rating
Pass	$ -	$ -	$ -	$ -	$ -	$ -	$ 48,576	$ 1,466	$ 50,042
Special Mention	-	-	-	-	-	-	-	-	-
Substandard	-	-	-	-	-	-	240	-	240
Total	$ -	$ -	$ -	$ -	$ -	$ -	$ 48,816	$ 1,466	$ 50,282

Consumer - Closed-End
Risk Rating
Pass	$ 5,587	$ 11,121	$ 588	$ 529	$ 7,647	$ 601	$ -	$ -	$ 26,073
Special Mention	-	-	-	14	-	-	-	-	14
Substandard	-	-	-	-	32	116	-	-	148
Total	$ 5,587	$ 11,121	$ 588	$ 543	$ 7,679	$ 717	$ -	$ -	$ 26,235

Residential:
Residential Mortgages
Risk Rating
Pass	$ 26,854	$ 24,740	$ 10,220	$ 9,007	$ 7,161	$ 25,935	$ -	$ -	$ 103,917
Special Mention	-	-	-	-	-	1,687	-	-	1,687
Substandard	-	-	-	105	54	1,227	-	-	1,386
Total	$ 26,854	$ 24,740	$ 10,220	$ 9,112	$ 7,215	$ 28,849	$ -	$ -	$ 106,990


Residential Consumer Construction/Land
Risk Rating
Pass	$ 10,762	$ 11,341	$ 3,821	$ 1,414	$ 1,896	$ 2,417	$ -	$ -	$ 31,651
Special Mention	-	-	22	-	-	-	-	-	22
Substandard	-	-	-	-	-	-	-	-	-
Total	$ 10,762	$ 11,341	$ 3,843	$ 1,414	$ 1,896	$ 2,417	$ -	$ -	$ 31,673

Totals:
Risk Rating
Pass	$ 74,466	$ 130,379	$ 114,846	$ 38,041	$ 33,471	$ 131,682	$ 76,269	$ 1,664	$ 600,818
Special Mention	100	-	22	146	-	2,143	382	-	2,793
Substandard	94	18	442	1,323	375	3,049	240	181	5,722
Total	$ 74,660	$ 130,397	$ 115,310	$ 39,510	$ 33,846	$ 136,874	$ 76,891	$ 1,845	$ 609,333

‎

Gross Charge-Offs By Origination Year


Current Period Gross Charge-Offs by Origination Year (in thousands)


As of September 30, 2024	2024	2023	2022	2021	2020	Prior	Revolving Loans Amortized Cost Basis	Total	Revolving Loans Converted to Term
Commercial	$ -	$ 8	$ -	$ -	$ -	$ -	$ -	$ 8	$ -
Commercial Real Estate:
Commercial Mortgages-Owner Occupied	-	-	-	-	-	-	-	-	-
Commercial Mortgages-Non-Owner Occupied	-	-	-	-	-	-	-	-	-
Commercial Construction/Land	-	-	-	-	-	-	-	-	-
Consumer:
Consumer Open-End	-	-	-	-	-	2	-	2	-
Consumer Closed-End	-	-	74	-	-	-	-	74	-
Residential:
Residential Mortgages	-	-	-	-	-	-	-	-	-
Residential Consumer Construction/Land	-	-	-	-	-	-	-	-	-

Total	$ -	$ 8	$ 74	$ -	$ -	$ 2	$ -	$ 84	$ -


As of December 31, 2023	2023	2022	2021	2020	2019	Prior	Revolving Loans Amortized Cost Basis	Total	Revolving Loans Converted to Term
Commercial	$ -	$ -	$ -	$ 17	$ -	$ 132	$ -	$ 149	$ -
Commercial Real Estate:
Commercial Mortgages-Owner Occupied	-	-	-	-	-	-	-	-	-
Commercial Mortgages-Non-Owner Occupied	-	-	-	-	-	-	-	-	-
Commercial Construction/Land	-	-	-	-	-	-	-	-	-
Consumer:
Consumer Open-End	-	-	-	-	-	6	7	13	-
Consumer Closed-End	19	33	19	-	-	-	-	71	-
Residential:
Residential Mortgages	-	-	-	-	-	3	-	3	-
Residential Consumer Construction/Land	-	-	-	-	-	-	-	-	-

Total	$ 19	$ 33	$ 19	$ 17	$ -	$ 141	$ 7	$ 236	$ -

Loans On Non-Accrual Status


	September 30, 2024
	Nonaccrual Loans
	With No Allowance	With an Allowance	Total
Commercial	$ 399	$ -	$ 399
Commercial Real Estate:
Commercial Construction/Land	363	-	363
Consumer:
Consumer Closed-End	263	-	263
Residential Mortgages	270	-	270
Total	$ 1,295	$ -	$ 1,295


	December 31, 2023
	Nonaccrual Loans
	With No Allowance	With an Allowance	Total
Commercial Real Estate:
Commercial Construction/Land	$ 391	-	$ 391

Age Analysis Of Past Due Financing Receivables


Age Analysis of Past Due Loans as of September 30, 2024
														Recorded
						Greater								Investment
2024		30-59 Days		60-89 Days		than		Total Past				Total		> 90 Days &
		Past Due		Past Due		90 Days		Due		Current		Loans		Accruing
Commercial	$	56	$	—	$	—	$	56	$	60,286	$	60,342	$	—
Commercial Real Estate:
Commercial Mortgages-Owner Occupied		93		—		—		93		143,698		143,791		—
Commercial Mortgages-Non-Owner Occupied		—		—		—		—		189,977		189,977		—
Commercial Construction/Land		—		—		—		—		22,358		22,358		—
Consumer:
Consumer Open-End		—		—		—		—		47,919		47,919		—
Consumer Closed-End		—		76		125		201		26,970		27,171		—
Residential:
Residential Mortgages		438		202		99		739		114,250		114,989		—
Residential Consumer Construction/Land		—		4		—		4		27,639		27,643		—
Total	$	587	$	282	$	224	$	1,093	$	633,097	$	634,190	$	—


Age Analysis of Past Due Loans as of December 31, 2023
														Recorded
2023						Greater								Investment
		30-59 Days		60-89 Days		than		Total Past				Total		> 90 Days &
		Past Due		Past Due		90 Days		Due		Current		Loans		Accruing
Commercial	$	—	$	—	$	—	$	—	$	65,324	$	65,324	$	—
Commercial Real Estate:
Commercial Mortgages-Owner Occupied		91		—		—		91		131,428		131,519		—
Commercial Mortgages-Non-Owner Occupied		—		—		—		—		175,344		175,344		—
Commercial Construction/Land		—		—		—		—		21,966		21,966		—
Consumer:
Consumer Open-End		357		—		—		357		49,925		50,282		—
Consumer Closed-End		126		89		—		215		26,020		26,235		—
Residential:
Residential Mortgages		396		—		—		396		106,594		106,990		—
Residential Consumer Construction/Land		—		—		—		—		31,673		31,673		—
Total	$	970	$	89	$	—	$	1,059	$	608,274	$	609,333	$	—

Allowance For Credit Losses On Unfunded Commitments


Allowance for Credit Losses on Unfunded Commitments (in thousands)
Balance, June 30, 2024	$ 589
Recovery of credit losses	(14)
Balance September 30, 2024	$ 575

Balance, December 31, 2023	$ 665
Recovery of credit losses	(90)
Balance September 30, 2024	$ 575

Balance, June 30, 2023	$ 723
Recovery of credit losses	(33)
Balance September 30, 2023	$ 690

Balance, December 31, 2022	$ -
Adoption of ASU 2016-13	779
Recovery of credit losses	(89)
Balance September 30, 2023	$ 690

Changes In OREO Balance


OREO Changes
	Nine Months Ended		Year Ended
(in thousands)	September 30, 2024		December 31, 2023
Balance at the beginning of the year	$	—	$	566
Transfers from Loans		—		—
Capitalized costs		—		—
Valuation adjustments		—		(23)
Sales proceeds		—		(540)
Loss on sales		—		(3)
Balance at the end of the year	$	—	$	—