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Loans and Allowance for Credit Losses (Tables) | 3 Months Ended
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Mar. 31, 2023
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract] |
Schedule of Loan Portfolio | As of March 31, 2023 and December 31, 2022, the composition of the loan portfolio by reporting segment and portfolio segment was as follows:
|  | March 31, 2023 |
|  | Bank |  |  | ALC |  |  | Total |
|  | (Dollars in Thousands) |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 69,398 |  |  | $ | — |  |  | $ | 69,398 |
Secured by 1-4 family residential properties |  |  | 85,353 |  |  |  | 1,269 |  |  |  | 86,622 |
Secured by multi-family residential properties |  |  | 63,368 |  |  |  | — |  |  |  | 63,368 |
Secured by non-farm, non-residential properties |  |  | 198,266 |  |  |  | — |  |  |  | 198,266 |
Commercial and industrial loans and leases (1) |  |  | 65,708 |  |  |  | — |  |  |  | 65,708 |
Consumer loans: |  |  |  |  |  |  |  |  |
Direct |  |  | 5,069 |  |  |  | 3,366 |  |  |  | 8,435 |
Branch retail |  |  | — |  |  |  | 12,222 |  |  |  | 12,222 |
Indirect |  |  | 271,870 |  |  |  | — |  |  |  | 271,870 |
Total loans |  |  | 759,032 |  |  |  | 16,857 |  |  |  | 775,889 |
Allowance for credit losses |  |  | 9,624 |  |  |  | 1,975 |  |  |  | 11,599 |
Net loans |  | $ | 749,408 |  |  | $ | 14,882 |  |  | $ | 764,290 |
|  | December 31, 2022 |
|  | Bank |  |  | ALC |  |  | Total |
|  | (Dollars in Thousands) |
Real estate loans: |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 53,914 |  |  | $ | — |  |  | $ | 53,914 |
Secured by 1-4 family residential properties |  |  | 86,518 |  |  |  | 1,477 |  |  |  | 87,995 |
Secured by multi-family residential properties |  |  | 67,852 |  |  |  | — |  |  |  | 67,852 |
Secured by non-farm, non-residential properties |  |  | 200,156 |  |  |  | — |  |  |  | 200,156 |
Commercial and industrial loans and leases (1) |  |  | 73,546 |  |  |  | — |  |  |  | 73,546 |
Consumer loans: |  |  |  |  |  |  |  |  |
Direct |  |  | 5,145 |  |  |  | 4,706 |  |  |  | 9,851 |
Branch retail |  |  | — |  |  |  | 13,992 |  |  |  | 13,992 |
Indirect |  |  | 266,567 |  |  |  | — |  |  |  | 266,567 |
Total loans |  |  | 753,698 |  |  |  | 20,175 |  |  |  | 773,873 |
Allowance for loan and lease losses |  |  | 8,057 |  |  |  | 1,365 |  |  |  | 9,422 |
Net loans |  | $ | 745,641 |  |  | $ | 18,810 |  |  | $ | 764,451 |
(1) Includes equipment financing leases, which totaled $11.2 million and $10.3 million as of March 31, 2023 and December 31, 2022, respectively.
Allowance for Credit Losses | The following tables present changes in the allowance for credit losses during the three months ended March 31, 2023 and 2022:
|  | As of and for the Three Months Ended March 31, 2023 |
|  | Construction, Land Development, and Other |  |  | Real Estate 1-4 Family |  |  | Real Estate Multi- Family |  |  | Non- Farm Non- Residential |  |  | Commercial and Industrial |  |  | Direct Consumer |  |  | Branch Retail |  |  | Indirect Consumer |  |  | Total |
|  | (Dollars in Thousands) |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 517 |  |  | $ | 832 |  |  | $ | 646 |  |  | $ | 1,970 |  |  | $ | 919 |  |  | $ | 866 |  |  | $ | 518 |  |  | $ | 3,154 |  |  | $ | 9,422 |
Impact of adopting CECL accounting guidance |  |  | (94 | ) |  |  | (39 | ) |  |  | (85 | ) |  |  | (147 | ) |  |  | (20 | ) |  |  | 47 |  |  |  | 628 |  |  |  | 1,833 |  |  |  | 2,123 |
Charge-offs |  |  | — |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (215 | ) |  |  | (155 | ) |  |  | (156 | ) |  |  | (534 | )
Recoveries |  |  | — |  |  |  | 16 |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 198 |  |  |  | 77 |  |  |  | 28 |  |  |  | 319 |
Provision for (recovery of) credit losses |  |  | 97 |  |  |  | (32 | ) |  |  | (52 | ) |  |  | (61 | ) |  |  | (117 | ) |  |  | (4 | ) |  |  | — |  |  |  | 438 |  |  |  | 269 |
Ending balance |  | $ | 520 |  |  | $ | 769 |  |  | $ | 509 |  |  | $ | 1,762 |  |  | $ | 782 |  |  | $ | 892 |  |  | $ | 1,068 |  |  | $ | 5,297 |  |  | $ | 11,599 |
|  | As of and for the Three Months Ended March 31, 2022 |
|  | Construction, Land Development, and Other |  |  | Real Estate 1-4 Family |  |  | Real Estate Multi- Family |  |  | Non- Farm Non- Residential |  |  | Commercial and Industrial |  |  | Direct Consumer |  |  | Branch Retail |  |  | Indirect Consumer |  |  | Total |
|  | (Dollars in Thousands) |
Allowance for loan and lease losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning balance |  | $ | 628 |  |  | $ | 690 |  |  | $ | 437 |  |  | $ | 1,958 |  |  | $ | 860 |  |  | $ | 1,004 |  |  | $ | 304 |  |  | $ | 2,439 |  |  | $ | 8,320 |
Charge-offs |  |  | — |  |  |  | (2 | ) |  |  | — |  |  |  | — |  |  |  | — |  |  |  | (601 | ) |  |  | (101 | ) |  |  | (25 | ) |  |  | (729 | )
Recoveries |  |  | 1 |  |  |  | 8 |  |  |  | — |  |  |  | 1 |  |  |  | — |  |  |  | 128 |  |  |  | 23 |  |  |  | 11 |  |  |  | 172 |
Provision for (recovery of) loan and lease losses |  |  | (142 | ) |  |  | (12 | ) |  |  | 47 |  |  |  | (185 | ) |  |  | 29 |  |  |  | 533 |  |  |  | 295 |  |  |  | 156 |  |  |  | 721 |
Ending balance |  | $ | 487 |  |  | $ | 684 |  |  | $ | 484 |  |  | $ | 1,774 |  |  | $ | 889 |  |  | $ | 1,064 |  |  | $ | 521 |  |  | $ | 2,581 |  |  | $ | 8,484 |
Schedule of Loan and Lease Losses and Recorded Investment in Loans by Loan Classification and by Impairment Evaluation | The following table details the allowance for loan and lease losses and recorded investment in loans by loan classification and by impairment evaluation as of December 31, 2022, as determined in accordance with ASC 310, Receivables, prior to the adoption of ASC 326:
|  | As of the Year Ended December 31, 2022 |
|  | Construction, Land Development, and Other |  |  | Real Estate 1-4 Family |  |  | Real Estate Multi- Family |  |  | Non- Farm Non- Residential |  |  | Commercial and Industrial |  |  | Direct Consumer |  |  | Branch Retail |  |  | Indirect Consumer |  |  | Total |
|  | (Dollars in Thousands) |
Ending balance of allowance attributable to loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | 7 |  |  | $ | — |  |  | $ | — |  |  | $ | 252 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 259 |
Collectively evaluated for impairment |  |  | 517 |  |  |  | 825 |  |  |  | 646 |  |  |  | 1,970 |  |  |  | 667 |  |  |  | 886 |  |  |  | 518 |  |  |  | 3,154 |  |  |  | 9,163 |
Total allowance for loan and lease losses |  | $ | 517 |  |  | $ | 832 |  |  | $ | 646 |  |  | $ | 1,970 |  |  | $ | 919 |  |  | $ | 886 |  |  | $ | 518 |  |  | $ | 3,154 |  |  | $ | 9,422 |
Ending balance of loans receivable: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | — |  |  | $ | 582 |  |  | $ | — |  |  | $ | 2,492 |  |  | $ | 2,429 |  |  | $ | 18 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,521 |
Collectively evaluated for impairment |  |  | 53,914 |  |  |  | 87,413 |  |  |  | 67,852 |  |  |  | 197,664 |  |  |  | 71,117 |  |  |  | 9,833 |  |  |  | 13,992 |  |  |  | 266,567 |  |  |  | 768,352 |
Total loans receivable |  | $ | 53,914 |  |  | $ | 87,995 |  |  | $ | 67,852 |  |  | $ | 200,156 |  |  | $ | 73,546 |  |  | $ | 9,851 |  |  | $ | 13,992 |  |  | $ | 266,567 |  |  | $ | 773,873 |
Loans By Credit Quality Indicators | The tables below illustrate the carrying amount of loans by credit quality indicator and year of origination as of March 31, 2023:
|  |  |  | March 31, 2023 |
|  |  |  | Loans at Amortized Cost Basis by Origination Year |  |  |  |
|  |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Total |
|  |  |  | (Dollars in Thousands) |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | Pass |  | $ | — |  |  | $ | 31,710 |  |  | $ | 31,359 |  |  | $ | 5,625 |  |  | $ | — |  |  | $ | 704 |  |  | $ | 69,398 |
|  | Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Subtotal |  | $ | — |  |  | $ | 31,710 |  |  | $ | 31,359 |  |  | $ | 5,625 |  |  | $ | — |  |  | $ | 704 |  |  | $ | 69,398 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by multi-family residential properties |  | Pass |  | $ | 320 |  |  | $ | 16,533 |  |  | $ | 14,459 |  |  | $ | 701 |  |  | $ | 7,325 |  |  | $ | 24,030 |  |  | $ | 63,368 |
|  | Special Mention |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Subtotal |  | $ | 320 |  |  | $ | 16,533 |  |  | $ | 14,459 |  |  | $ | 701 |  |  | $ | 7,325 |  |  | $ | 24,030 |  |  | $ | 63,368 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by non-farm, non-residential properties |  | Pass |  | $ | 516 |  |  | $ | 37,109 |  |  | $ | 24,459 |  |  | $ | 59,612 |  |  | $ | 19,152 |  |  | $ | 52,144 |  |  | $ | 192,992 |
|  | Special Mention |  |  | — |  |  |  | — |  |  |  | 1,319 |  |  |  | 546 |  |  |  | — |  |  |  | 645 |  |  |  | 2,510 |
|  | Substandard |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 2,764 |  |  |  | 2,764 |
|  | Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Subtotal |  | $ | 516 |  |  | $ | 37,109 |  |  | $ | 25,778 |  |  | $ | 60,158 |  |  | $ | 19,152 |  |  | $ | 55,553 |  |  | $ | 198,266 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial and industrial loans |  | Pass |  | $ | 2,332 |  |  | $ | 8,894 |  |  | $ | 17,835 |  |  | $ | 4,992 |  |  | $ | 4,195 |  |  | $ | 24,938 |  |  | $ | 63,186 |
|  | Special Mention |  |  | — |  |  |  | 190 |  |  |  | 1,100 |  |  |  | 249 |  |  |  | 93 |  |  |  | — |  |  |  | 1,632 |
|  | Substandard |  |  | — |  |  |  | 49 |  |  |  | 328 |  |  |  | 37 |  |  |  | 179 |  |  |  | 297 |  |  |  | 890 |
|  | Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Subtotal |  | $ | 2,332 |  |  | $ | 9,133 |  |  | $ | 19,263 |  |  | $ | 5,278 |  |  | $ | 4,467 |  |  | $ | 25,235 |  |  | $ | 65,708 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Total commercial |  | Pass |  | $ | 3,168 |  |  | $ | 94,246 |  |  | $ | 88,112 |  |  | $ | 70,930 |  |  | $ | 30,672 |  |  | $ | 101,816 |  |  | $ | 388,944 |
|  | Special Mention |  |  | — |  |  |  | 190 |  |  |  | 2,419 |  |  |  | 795 |  |  |  | 93 |  |  |  | 645 |  |  |  | 4,142 |
|  | Substandard |  |  | — |  |  |  | 49 |  |  |  | 328 |  |  |  | 37 |  |  |  | 179 |  |  |  | 3,061 |  |  |  | 3,654 |
|  | Doubtful |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  | Loss |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
|  |  |  | $ | 3,168 |  |  | $ | 94,485 |  |  | $ | 90,859 |  |  | $ | 71,762 |  |  | $ | 30,944 |  |  | $ | 105,522 |  |  | $ | 396,740 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
|  |  |  | March 31, 2023 |
|  |  |  | Loans at Amortized Cost Basis by Origination Year |  |  |  |
|  |  |  | 2023 |  |  | 2022 |  |  | 2021 |  |  | 2020 |  |  | 2019 |  |  | Prior |  |  | Total |
|  |  |  | (Dollars in Thousands) |
Consumer: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Secured by 1-4 family residential properties |  | Performing |  | $ | 1,762 |  |  | $ | 21,937 |  |  | $ | 16,092 |  |  | $ | 12,095 |  |  | $ | 10,346 |  |  | $ | 23,337 |  |  | $ | 85,569 |
|  | Non-performing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 164 |  |  |  | 889 |  |  |  | 1,053 |
|  | Subtotal |  | $ | 1,762 |  |  | $ | 21,937 |  |  | $ | 16,092 |  |  | $ | 12,095 |  |  | $ | 10,510 |  |  | $ | 24,226 |  |  | $ | 86,622 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 8 |  |  | $ | 8 |
Direct |  | Performing |  | $ | 740 |  |  | $ | 2,021 |  |  | $ | 3,378 |  |  | $ | 1,467 |  |  | $ | 533 |  |  | $ | 273 |  |  | $ | 8,412 |
|  | Non-performing |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | — |  |  |  | — |  |  |  | 17 |  |  |  | 23 |
|  | Subtotal |  | $ | 740 |  |  | $ | 2,021 |  |  | $ | 3,384 |  |  | $ | 1,467 |  |  | $ | 533 |  |  | $ | 290 |  |  | $ | 8,435 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 149 |  |  | $ | 47 |  |  | $ | 1 |  |  | $ | 18 |  |  | $ | 215 |
Branch retail |  | Performing |  | $ | — |  |  | $ | — |  |  | $ | 3,215 |  |  | $ | 3,743 |  |  | $ | 2,173 |  |  | $ | 3,077 |  |  | $ | 12,208 |
|  | Non-performing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 14 |  |  |  | — |  |  |  | — |  |  |  | 14 |
|  | Subtotal |  | $ | — |  |  | $ | — |  |  | $ | 3,215 |  |  | $ | 3,757 |  |  | $ | 2,173 |  |  | $ | 3,077 |  |  | $ | 12,222 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | — |  |  | $ | 40 |  |  | $ | 44 |  |  | $ | 20 |  |  | $ | 51 |  |  | $ | 155 |
Indirect |  | Performing |  | $ | 18,453 |  |  | $ | 102,067 |  |  | $ | 76,676 |  |  | $ | 60,415 |  |  | $ | 6,674 |  |  | $ | 7,560 |  |  | $ | 271,845 |
|  | Non-performing |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 11 |  |  |  | 14 |  |  |  | — |  |  |  | 25 |
|  | Subtotal |  | $ | 18,453 |  |  | $ | 102,067 |  |  | $ | 76,676 |  |  | $ | 60,426 |  |  | $ | 6,688 |  |  | $ | 7,560 |  |  | $ | 271,870 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | 45 |  |  | $ | 42 |  |  | $ | 40 |  |  | $ | — |  |  | $ | 29 |  |  | $ | 156 |
Total consumer: |  | Performing |  | $ | 20,955 |  |  | $ | 126,025 |  |  | $ | 99,361 |  |  | $ | 77,720 |  |  | $ | 19,726 |  |  | $ | 34,247 |  |  | $ | 378,034 |
|  | Non-performing |  |  | — |  |  |  | — |  |  |  | 6 |  |  |  | 25 |  |  |  | 178 |  |  |  | 906 |  |  |  | 1,115 |
|  |  |  | $ | 20,955 |  |  | $ | 126,025 |  |  | $ | 99,367 |  |  | $ | 77,745 |  |  | $ | 19,904 |  |  | $ | 35,153 |  |  | $ | 379,149 |
|  | Current period gross charge-offs |  | $ | — |  |  | $ | 45 |  |  | $ | 231 |  |  | $ | 131 |  |  | $ | 21 |  |  | $ | 106 |  |  | $ | 534 |
The tables below illustrate the carrying amount of loans by credit quality indicator as of December 31, 2022:
|  | December 31, 2022 |
|  | Pass 1-5 |  |  | Special Mention 6 |  |  | Substandard 7 |  |  | Total |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | 53,914 |  |  | $ | — |  |  | $ | — |  |  | $ | 53,914 |
Secured by multi-family residential properties |  |  | 67,852 |  |  |  | — |  |  |  | — |  |  |  | 67,852 |
Secured by non-farm, non-residential properties |  |  | 197,004 |  |  |  | 651 |  |  |  | 2,501 |  |  |  | 200,156 |
Commercial and industrial loans |  |  | 70,500 |  |  |  | — |  |  |  | 3,046 |  |  |  | 73,546 |
Total |  | $ | 389,270 |  |  | $ | 651 |  |  | $ | 5,547 |  |  | $ | 395,468 |
As a percentage of total loans |  |  | 98.43 | % |  |  | 0.17 | % |  |  | 1.40 | % |  |  | 100.00 | %
|  | December 31, 2022 |
|  | Performing |  |  | Nonperforming |  |  | Total |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |
Secured by 1-4 family residential properties |  | $ | 86,871 |  |  | $ | 1,124 |  |  | $ | 87,995 |
Consumer loans: |  |  |  |  |  |  |  |  |
Direct |  |  | 9,805 |  |  |  | 46 |  |  |  | 9,851 |
Branch retail |  |  | 13,960 |  |  |  | 32 |  |  |  | 13,992 |
Indirect |  |  | 266,496 |  |  |  | 71 |  |  |  | 266,567 |
Total |  | $ | 377,132 |  |  | $ | 1,273 |  |  | $ | 378,405 |
As a percentage of total loans |  |  | 99.66 | % |  |  | 0.34 | % |  |  | 100.00 | %
Aging Analysis of Past Due Loans | The following table provides an aging analysis of past due loans by class as of March 31, 2023:
|  | As of March 31, 2023 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days Or Greater |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days And Accruing |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 69,398 |  |  | $ | 69,398 |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 262 |  |  |  | 18 |  |  |  | 56 |  |  |  | 336 |  |  |  | 86,286 |  |  |  | 86,622 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 63,368 |  |  |  | 63,368 |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 198,266 |  |  |  | 198,266 |  |  |  | — |
Commercial and industrial loans |  |  | 3 |  |  |  | — |  |  |  | 173 |  |  |  | 176 |  |  |  | 65,532 |  |  |  | 65,708 |  |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct |  |  | 97 |  |  |  | 45 |  |  |  | 24 |  |  |  | 166 |  |  |  | 8,269 |  |  |  | 8,435 |  |  |  | — |
Branch retail |  |  | 92 |  |  |  | 23 |  |  |  | 14 |  |  |  | 129 |  |  |  | 12,093 |  |  |  | 12,222 |  |  |  | — |
Indirect |  |  | 179 |  |  |  | — |  |  |  | 25 |  |  |  | 204 |  |  |  | 271,666 |  |  |  | 271,870 |  |  |  | — |
Total |  | $ | 633 |  |  | $ | 86 |  |  | $ | 292 |  |  | $ | 1,011 |  |  | $ | 774,878 |  |  | $ | 775,889 |  |  | $ | — |
As a percentage of total loans |  |  | 0.08 | % |  |  | 0.01 | % |  |  | 0.04 | % |  |  | 0.13 | % |  |  | 99.87 | % |  |  | 100.00 | % |  |  |
The following table provides an aging analysis of past due loans by class as of December 31, 2022:
|  | As of December 31, 2022 |
|  | 30-59 Days Past Due |  |  | 60-89 Days Past Due |  |  | 90 Days Or Greater |  |  | Total Past Due |  |  | Current |  |  | Total Loans |  |  | Recorded Investment > 90 Days And Accruing |
|  | (Dollars in Thousands) |
Loans secured by real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 53,914 |  |  | $ | 53,914 |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 801 |  |  |  | 87 |  |  |  | 78 |  |  |  | 966 |  |  |  | 87,029 |  |  |  | 87,995 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 67,852 |  |  |  | 67,852 |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 137 |  |  |  | — |  |  |  | — |  |  |  | 137 |  |  |  | 200,019 |  |  |  | 200,156 |  |  |  | — |
Commercial and industrial loans |  |  | 61 |  |  |  | — |  |  |  | 300 |  |  |  | 361 |  |  |  | 73,185 |  |  |  | 73,546 |  |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Direct |  |  | 251 |  |  |  | 50 |  |  |  | 30 |  |  |  | 330 |  |  |  | 9,521 |  |  |  | 9,851 |  |  |  | — |
Branch retail |  |  | 258 |  |  |  | 85 |  |  |  | 32 |  |  |  | 375 |  |  |  | 13,617 |  |  |  | 13,992 |  |  |  | — |
Indirect |  |  | 186 |  |  |  | 55 |  |  |  | 71 |  |  |  | 312 |  |  |  | 266,255 |  |  |  | 266,567 |  |  |  | — |
Total |  | $ | 1,694 |  |  | $ | 277 |  |  | $ | 511 |  |  | $ | 2,481 |  |  | $ | 771,392 |  |  | $ | 773,873 |  |  | $ | — |
As a percentage of total loans |  |  | 0.21 | % |  |  | 0.04 | % |  |  | 0.07 | % |  |  | 0.32 | % |  |  | 99.68 | % |  |  | 100.00 | % |  |  |
Non-accruing Loans | March 31, 2023. Also presented is the balance of loans on nonaccrual status at March 31, 2023 for which there was no related allowance for credit losses recorded.
|  | Loans on Non-Accrual Status |
|  | March 31, 2023 |
|  | (Dollars in Thousands) |
|  | Total nonaccrual loans |  | Nonaccrual loans with no allowance for credit losses |  | Loans past due 90 days or more and still accruing |
Loans secured by real estate: |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  | $ | — |  | $ | — |
Secured by 1-4 family residential properties |  |  | 856 |  |  | 483 |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  | — |  |  | — |
Secured by non-farm, non-residential properties |  |  | — |  |  | — |  |  | — |
Commercial and industrial loans |  |  | 296 |  |  | 113 |  |  | — |
Consumer loans: |  |  |  |  |  |  | — |
Direct |  |  | 23 |  |  | 17 |  |  | — |
Branch retail |  |  | 14 |  |  | — |  |  | — |
Indirect |  |  | 25 |  |  | — |  |  | — |
Total loans |  | $ | 1,214 |  | $ | 613 |  | $ | — |
The following table provides an analysis of nonaccruing loans by portfolio segment as of December 31, 2022:
| Loans on Non-Accrual Status |
| December 31, 2022 |
| (Dollars in Thousands) |
Loans secured by real estate: |  |
Construction, land development and other land loans | $ | — |
Secured by 1-4 family residential properties |  | 914 |
Secured by multi-family residential properties |  | — |
Secured by non-farm, non-residential properties |  | — |
Commercial and industrial loans |  | 605 |
Consumer loans: |  |
Direct |  | 29 |
Branch retail |  | 32 |
Indirect |  | 71 |
Total loans | $ | 1,651 |
Loans Individually Evaluated, as well as any Related Allowance for Loans and Lease Losses | The following table presents impaired loans as of December 31, 2022 as determined under ASC 310 prior to the adoption of ASC 326. Impaired loans generally include nonaccrual loans and other loans deemed to be impaired but that continue to accrue interest. Presented are the carrying amount, unpaid principal balance and related allowance of impaired loans as of December 31, 2022 by portfolio segment:
|  | December 31, 2022 |
|  | Carrying Amount |  |  | Unpaid Principal Balance |  |  | Related Allowances |
|  | (Dollars in Thousands) |
Impaired loans with no related allowance recorded |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 568 |  |  |  | 568 |  |  |  | — |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 2,492 |  |  |  | 2,492 |  |  |  | — |
Commercial and industrial |  |  | 2,076 |  |  |  | 2,076 |  |  |  | — |
Direct consumer |  |  | 18 |  |  |  | 18 |  |  |  | — |
Total impaired loans with no related allowance recorded |  | $ | 5,154 |  |  | $ | 5,154 |  |  | $ | — |
Impaired loans with an allowance recorded |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 14 |  |  |  | 14 |  |  |  | 7 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | — |  |  |  | — |  |  |  | — |
Commercial and industrial |  |  | 353 |  |  |  | 353 |  |  |  | 252 |
Direct consumer |  |  | — |  |  |  | — |  |  |  | — |
Total impaired loans with an allowance recorded |  | $ | 367 |  |  | $ | 367 |  |  | $ | 259 |
Total impaired loans |  |  |  |  |  |  |  |  |
Loans secured by real estate |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 582 |  |  |  | 582 |  |  |  | 7 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 2,492 |  |  |  | 2,492 |  |  |  | — |
Commercial and industrial |  |  | 2,429 |  |  |  | 2,429 |  |  |  | 252 |
Direct consumer |  |  | 18 |  |  |  | 18 |  |  |  | — |
Total impaired loans |  | $ | 5,521 |  |  | $ | 5,521 |  |  | $ | 259 |
The following table details the average recorded investment and the amount of interest income recognized and received for the three months ended March 31, 2022, respectively, related to impaired loans as determined under ASC 310 prior to the adoption of ASC 326:
|  | Three Months Ended March 31, 2022 |
|  | Average Recorded Investment |  |  | Interest Income Recognized |  |  | Interest Income Received |
|  | (Dollars in Thousands) |
Loans secured by real estate |  |  |  |  |  |  |  |  |
Construction, land development and other land loans |  | $ | — |  |  | $ | — |  |  | $ | — |
Secured by 1-4 family residential properties |  |  | 642 |  |  |  | 2 |  |  |  | 1 |
Secured by multi-family residential properties |  |  | — |  |  |  | — |  |  |  | — |
Secured by non-farm, non-residential properties |  |  | 1,043 |  |  |  | 13 |  |  |  | 15 |
Commercial and industrial |  |  | 739 |  |  |  | 5 |  |  |  | 5 |
Direct consumer |  |  | 20 |  |  |  | — |  |  |  | 1 |
Total |  | $ | 2,444 |  |  | $ | 20 |  |  | $ | 22 |

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