XML 38 R31.htm IDEA: XBRL DOCUMENT v3.25.1
Loans And Leases (Tables)
 3 Months Ended
Mar. 31, 2025
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract]  
Schedule of Loan Portfolio

As of March 31, 2025 and December 31, 2024, the composition of the loan portfolio by portfolio segment was as follows:

 

 

March 31, 2025

 

December 31, 2024

 

Real estate loans:

 

 

 

 

Construction, land development and other land loans

$

58,572

 

$

65,537

 

Secured by 1-4 family residential properties

 

68,523

 

 

69,999

 

Secured by multi-family residential properties

 

106,374

 

 

101,057

 

Secured by non-residential commercial real estate

 

214,065

 

 

227,751

 

Commercial and industrial loans and leases (1)

 

45,166

 

 

44,238

 

Consumer loans:

 

 

 

 

Direct

 

4,610

 

 

4,774

 

Indirect

 

351,025

 

 

309,683

 

Total loans

 

848,335

 

 

823,039

 

   Allowance for credit losses on loans and leases

 

10,405

 

 

10,184

 

 Net loans (2)

$

837,930

 

$

812,855

 

 

 

(1)
Includes equipment financing leases, which totaled $15.2 million as of March 31, 2025 and $14.2 million as of December 31, 2024.
(2)
Loans are presented net of unearned income and unamortized deferred fees and costs of $0.8 million as of both March 31, 2025 and December 31, 2024. In addition, loans are also presented net of unamortized premiums associated with indirect loans of $13.7 million and $10.6 million as of March 31, 2025 and December 31, 2024, respectively.
Allowance for Credit Losses on Loans and Leases

The following tables present changes in the ACL on loans and leases, as well as unfunded lending commitments, during the three months ended March 31, 2025 and 2024:

 

 

 

As of and for the Three Months Ended March 31, 2025

 

 

 

Construction,
Land
Development,
and Other

 

 

Real Estate
1-4
Family

 

 

Real
Estate
Multi-
Family

 

 

Non-
Residential Commercial Real estate

 

 

Commercial and
Industrial

 

 

Direct
Consumer

 

 

Indirect
Consumer

 

 

Total

 

 

 

(Dollars in Thousands)

 

Allowance for credit losses on loans and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

352

 

 

$

406

 

 

$

546

 

 

$

1,428

 

 

$

1,531

 

 

$

49

 

 

$

5,872

 

 

$

10,184

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(422

)

 

 

(422

)

Recoveries

 

 

—

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

16

 

 

 

57

 

 

 

74

 

 

 

153

 

Provision for (recovery of) credit losses on loans and leases

 

 

(73

)

 

 

(57

)

 

 

(17

)

 

 

(157

)

 

 

(20

)

 

 

(59

)

 

 

873

 

 

 

490

 

Allowance for credit losses on loans and leases

 

$

279

 

 

$

355

 

 

$

529

 

 

$

1,271

 

 

$

1,527

 

 

$

47

 

 

$

6,397

 

 

$

10,405

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

280

 

 

$

1

 

 

$

43

 

 

$

16

 

 

$

34

 

 

$

2

 

 

$

—

 

 

$

376

 

Provision for (recovery of) credit losses on unfunded lending commitments

 

 

50

 

 

 

—

 

 

 

(1

)

 

 

(9

)

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

38

 

Allowance for credit losses on unfunded lending commitments

 

$

330

 

 

$

1

 

 

$

42

 

 

$

7

 

 

$

34

 

 

$

—

 

 

$

—

 

 

$

414

 

 

 

 

As of and for the Three Months Ended March 31, 2024

 

 

 

Construction,
Land
Development,
and Other

 

 

Real Estate
1-4
Family

 

 

Real
Estate
Multi-
Family

 

 

Non-
Residential Commercial Real estate

 

 

Commercial and
Industrial

 

 

Direct
Consumer

 

 

Indirect
Consumer

 

 

Total

 

 

 

(Dollars in Thousands)

 

Allowance for credit losses on loans and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

565

 

 

$

591

 

 

$

415

 

 

$

1,425

 

 

$

513

 

 

$

64

 

 

$

6,934

 

 

$

10,507

 

Charge-offs

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(22

)

 

 

(366

)

 

 

(390

)

Recoveries

 

 

—

 

 

 

23

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

100

 

 

 

84

 

 

 

207

 

Provision for (recovery of) credit losses on loans and leases

 

 

95

 

 

 

(80

)

 

 

(15

)

 

 

(75

)

 

 

(24

)

 

 

(74

)

 

 

285

 

 

 

112

 

Allowance for credit losses on loans and leases

 

$

660

 

 

$

532

 

 

$

400

 

 

$

1,350

 

 

$

489

 

 

$

68

 

 

$

6,937

 

 

$

10,436

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

450

 

 

$

1

 

 

$

9

 

 

$

2

 

 

$

102

 

 

$

5

 

 

$

—

 

 

$

569

 

Provision for (recovery of) credit losses on unfunded lending commitments

 

 

(100

)

 

 

(1

)

 

 

(1

)

 

 

4

 

 

 

—

 

 

 

(14

)

 

 

—

 

 

 

(112

)

Allowance for credit losses on unfunded lending commitments

 

$

350

 

 

$

—

 

 

$

8

 

 

$

6

 

 

$

102

 

 

$

(9

)

 

$

—

 

 

$

457

 
Loans and Leases By Credit Quality Indicators

The tables below illustrate the carrying amount of loans and leases by credit quality indicator and year of origination as of March 31, 2025, as well as gross charge-offs for the three months ended March 31, 2025.

 

 

 

 

 

March 31, 2025

 

 

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Total

 

 

 

 

 

(Dollars in Thousands)

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

 

Pass

 

$

419

 

 

$

1,975

 

 

$

7,927

 

 

$

37,404

 

 

$

7,874

 

 

$

453

 

 

$

56,052

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

56

 

 

 

—

 

 

 

56

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

2,464

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,464

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

419

 

 

$

1,975

 

 

$

10,391

 

 

$

37,404

 

 

$

7,930

 

 

$

453

 

 

$

58,572

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by multi-family residential properties

 

Pass

 

$

550

 

 

$

7,942

 

 

$

8,598

 

 

$

33,497

 

 

$

22,698

 

 

$

24,592

 

 

$

97,877

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,497

 

 

 

—

 

 

 

—

 

 

 

8,497

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

550

 

 

$

7,942

 

 

$

8,598

 

 

$

41,994

 

 

$

22,698

 

 

$

24,592

 

 

$

106,374

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by non-residential commercial real estate

 

Pass

 

$

97

 

 

$

25,153

 

 

$

24,120

 

 

$

22,423

 

 

$

36,049

 

 

$

101,145

 

 

$

208,987

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

546

 

 

 

3,186

 

 

 

—

 

 

 

331

 

 

 

4,063

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

475

 

 

 

540

 

 

 

1,015

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

97

 

 

$

25,153

 

 

$

24,666

 

 

$

25,609

 

 

$

36,524

 

 

$

102,016

 

 

$

214,065

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans and leases

 

Pass

 

$

2,579

 

 

$

13,244

 

 

$

5,278

 

 

$

3,261

 

 

$

4,917

 

 

$

12,899

 

 

$

42,178

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

26

 

 

 

51

 

 

 

—

 

 

 

77

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

259

 

 

 

259

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

2,652

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,652

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

2,579

 

 

$

13,244

 

 

$

7,930

 

 

$

3,287

 

 

$

4,968

 

 

$

13,158

 

 

$

45,166

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial

 

Pass

 

$

3,645

 

 

$

48,314

 

 

$

45,923

 

 

$

96,585

 

 

$

71,538

 

 

$

139,089

 

 

$

405,094

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

546

 

 

 

11,709

 

 

 

107

 

 

 

331

 

 

 

12,693

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

2,464

 

 

 

—

 

 

 

475

 

 

 

799

 

 

 

3,738

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

2,652

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,652

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

$

3,645

 

 

$

48,314

 

 

$

51,585

 

 

$

108,294

 

 

$

72,120

 

 

$

140,219

 

 

$

424,177

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

March 31, 2025

 

 

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Total

 

 

 

 

 

(Dollars in Thousands)

 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

Performing

 

$

395

 

 

$

4,295

 

 

$

3,366

 

 

$

17,982

 

 

$

14,169

 

 

$

26,749

 

 

$

66,956

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,567

 

 

 

1,567

 

 

 

Subtotal

 

$

395

 

 

$

4,295

 

 

$

3,366

 

 

$

17,982

 

 

$

14,169

 

 

$

28,316

 

 

$

68,523

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

Performing

 

$

785

 

 

$

1,868

 

 

$

881

 

 

$

348

 

 

$

374

 

 

$

354

 

 

$

4,610

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

785

 

 

$

1,868

 

 

$

881

 

 

$

348

 

 

$

374

 

 

$

354

 

 

$

4,610

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indirect

 

Performing

 

$

54,604

 

 

$

54,338

 

 

$

68,690

 

 

$

71,003

 

 

$

52,649

 

 

$

49,379

 

 

$

350,663

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

202

 

 

 

98

 

 

 

—

 

 

 

62

 

 

 

362

 

 

 

Subtotal

 

$

54,604

 

 

$

54,338

 

 

$

68,892

 

 

$

71,101

 

 

$

52,649

 

 

$

49,441

 

 

$

351,025

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

59

 

 

$

289

 

 

$

35

 

 

$

39

 

 

$

422

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Total consumer

 

Performing

 

$

55,784

 

 

$

60,501

 

 

$

72,937

 

 

$

89,333

 

 

$

67,192

 

 

$

76,482

 

 

$

422,229

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

202

 

 

 

98

 

 

 

—

 

 

 

1,629

 

 

 

1,929

 

 

 

 

 

$

55,784

 

 

$

60,501

 

 

$

73,139

 

 

$

89,431

 

 

$

67,192

 

 

$

78,111

 

 

$

424,158

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

59

 

 

$

289

 

 

$

35

 

 

$

39

 

 

$

422

 

 

The tables below illustrate the carrying amount of loans and leases by credit quality indicator and year of origination as of December 31, 2024, as well as gross charge-offs for the year ended December 31, 2024.

 

 

 

 

 

December 31, 2024

 

 

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Total

 

 

 

 

 

(Dollars in Thousands)

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

 

Pass

 

$

852

 

 

$

4,626

 

 

$

45,087

 

 

$

11,931

 

 

$

41

 

 

$

450

 

 

$

62,987

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

61

 

 

 

—

 

 

 

—

 

 

 

61

 

 

 

Substandard

 

 

—

 

 

 

2,489

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,489

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

852

 

 

$

7,115

 

 

$

45,087

 

 

$

11,992

 

 

$

41

 

 

$

450

 

 

$

65,537

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by multi-family residential properties

 

Pass

 

$

7,941

 

 

$

8,218

 

 

$

42,077

 

 

$

17,557

 

 

$

5,592

 

 

$

19,672

 

 

$

101,057

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

7,941

 

 

$

8,218

 

 

$

42,077

 

 

$

17,557

 

 

$

5,592

 

 

$

19,672

 

 

$

101,057

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by non-residential commercial real estate

 

Pass

 

$

25,251

 

 

$

24,906

 

 

$

34,930

 

 

$

36,793

 

 

$

54,527

 

 

$

49,681

 

 

$

226,088

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

316

 

 

 

—

 

 

 

334

 

 

 

—

 

 

 

650

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

483

 

 

 

147

 

 

 

383

 

 

 

1,013

 

 

 

Doubtful

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

25,251

 

 

$

24,906

 

 

$

35,246

 

 

$

37,276

 

 

$

55,008

 

 

$

50,064

 

 

$

227,751

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

248

 

 

$

248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans

 

Pass

 

$

13,458

 

 

$

5,562

 

 

$

3,499

 

 

$

5,189

 

 

$

2,888

 

 

$

9,963

 

 

$

40,559

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

30

 

 

 

60

 

 

 

—

 

 

 

—

 

 

 

90

 

 

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

 

 

—

 

 

 

303

 

 

 

305

 

 

 

Doubtful

 

 

—

 

 

 

3,284

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,284

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

13,458

 

 

$

8,846

 

 

$

3,529

 

 

$

5,251

 

 

$

2,888

 

 

$

10,266

 

 

$

44,238

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

54

 

 

$

—

 

 

$

43

 

 

$

24

 

 

$

121

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial

 

Pass

 

$

47,502

 

 

$

43,312

 

 

$

125,593

 

 

$

71,470

 

 

$

63,048

 

 

$

79,766

 

 

$

430,691

 

 

 

Special Mention

 

 

—

 

 

 

—

 

 

 

346

 

 

 

121

 

 

 

334

 

 

 

—

 

 

 

801

 

 

 

Substandard

 

 

—

 

 

 

2,489

 

 

 

—

 

 

 

485

 

 

 

147

 

 

 

686

 

 

 

3,807

 

 

 

Doubtful

 

 

—

 

 

 

3,284

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,284

 

 

 

Loss

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

 

 

$

47,502

 

 

$

49,085

 

 

$

125,939

 

 

$

72,076

 

 

$

63,529

 

 

$

80,452

 

 

$

438,583

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

54

 

 

$

—

 

 

$

43

 

 

$

272

 

 

$

369

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Total

 

 

 

 

 

(Dollars in Thousands)

 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

Performing

 

$

4,559

 

 

$

3,525

 

 

$

18,060

 

 

$

14,746

 

 

$

5,884

 

 

$

21,612

 

 

$

68,386

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,613

 

 

 

1,613

 

 

 

Subtotal

 

$

4,559

 

 

$

3,525

 

 

$

18,060

 

 

$

14,746

 

 

$

5,884

 

 

$

23,225

 

 

$

69,999

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

2

 

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct consumer

 

Performing

 

$

2,397

 

 

$

1,077

 

 

$

430

 

 

$

487

 

 

$

283

 

 

$

100

 

 

$

4,774

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

2,397

 

 

$

1,077

 

 

$

430

 

 

$

487

 

 

$

283

 

 

$

100

 

 

$

4,774

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

1

 

 

$

42

 

 

$

3

 

 

$

16

 

 

$

62

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indirect consumer

 

Performing

 

$

54,546

 

 

$

72,461

 

 

$

74,514

 

 

$

55,904

 

 

$

41,908

 

 

$

10,350

 

 

$

309,683

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

54,546

 

 

$

72,461

 

 

$

74,514

 

 

$

55,904

 

 

$

41,908

 

 

$

10,350

 

 

$

309,683

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

21

 

 

$

95

 

 

$

278

 

 

$

531

 

 

$

329

 

 

$

127

 

 

$

1,381

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Total consumer:

 

Performing

 

$

61,502

 

 

$

77,063

 

 

$

93,004

 

 

$

71,137

 

 

$

48,075

 

 

$

32,062

 

 

$

382,843

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,613

 

 

 

1,613

 

 

 

 

 

$

61,502

 

 

$

77,063

 

 

$

93,004

 

 

$

71,137

 

 

$

48,075

 

 

$

33,675

 

 

$

384,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

21

 

 

$

95

 

 

$

279

 

 

$

573

 

 

$

332

 

 

$

145

 

 

$

1,445

 

 
Aging Analysis of Past Due Loans

The following table provides an aging analysis of past due loans by class as of March 31, 2025:

 

 

 

As of March 31, 2025

 

 

 

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

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

58,572

 

 

$

58,572

 

 

$

—

 

Secured by 1-4 family residential
   properties

 

 

227

 

 

 

—

 

 

 

—

 

 

 

227

 

 

 

68,296

 

 

 

68,523

 

 

 

—

 

Secured by multi-family residential
   properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

106,374

 

 

 

106,374

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

—

 

 

 

—

 

 

 

22

 

 

 

22

 

 

 

214,043

 

 

 

214,065

 

 

 

—

 

Commercial and industrial loans

 

 

63

 

 

 

—

 

 

 

2,652

 

 

 

2,715

 

 

 

42,451

 

 

 

45,166

 

 

 

—

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

—

 

 

 

 

 

 

 

 

 

 

Direct

 

 

3

 

 

 

1

 

 

 

—

 

 

 

4

 

 

 

4,606

 

 

 

4,610

 

 

 

—

 

Indirect

 

 

594

 

 

 

295

 

 

 

362

 

 

 

1,251

 

 

 

349,774

 

 

 

351,025

 

 

 

—

 

Total

 

$

887

 

 

$

296

 

 

$

3,036

 

 

$

4,219

 

 

$

844,116

 

 

$

848,335

 

 

$

—

 

As a percentage of total loans

 

 

0.10

%

 

 

0.03

%

 

 

0.36

%

 

 

0.50

%

 

 

99.50

%

 

 

100.00

%

 

 

 

 

 

 

The following table provides an aging analysis of past due loans by class as of December 31, 2024:

 

 

 

As of December 31, 2024

 

 

 

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

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

65,537

 

 

$

65,537

 

 

$

—

 

Secured by 1-4 family residential
   properties

 

 

515

 

 

 

—

 

 

 

—

 

 

 

515

 

 

 

69,484

 

 

 

69,999

 

 

 

—

 

Secured by multi-family residential
   properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

101,057

 

 

 

101,057

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

227,751

 

 

 

227,751

 

 

 

—

 

Commercial and industrial loans

 

 

3,317

 

 

 

—

 

 

 

—

 

 

 

3,317

 

 

 

40,921

 

 

 

44,238

 

 

 

—

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

 

15

 

 

 

—

 

 

 

—

 

 

 

15

 

 

 

4,759

 

 

 

4,774

 

 

 

—

 

Indirect

 

 

489

 

 

 

47

 

 

 

—

 

 

 

536

 

 

 

309,147

 

 

 

309,683

 

 

 

—

 

Total

 

$

4,336

 

 

$

47

 

 

$

—

 

 

$

4,383

 

 

$

818,656

 

 

$

823,039

 

 

$

—

 

As a percentage of total loans

 

 

0.52

%

 

 

0.01

%

 

 

0.00

%

 

 

0.53

%

 

 

99.47

%

 

 

100.00

%

 

 

 
Non-accruing Loans

The tables below present the amortized cost of loans on nonaccrual status and loans past due 90 days or more and still accruing interest as of March 31, 2025 and December 31, 2024. Also presented is the balance of loans on nonaccrual status at March 31, 2025 and December 31, 2024 for which there was no related ACL recorded.

 

 

 

Loans on Non-Accrual Status

 

 

 

March 31, 2025

 

 

 

(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

 

 

632

 

 

389

 

 

—

 

Secured by multi-family residential properties

 

 

—

 

 

—

 

 

—

 

Secured by non-residential commercial real estate

 

 

22

 

 

—

 

 

—

 

Commercial and industrial loans

 

 

2,652

 

 

—

 

 

—

 

Consumer loans:

 

 

 

 

 

 

—

 

Direct

 

 

—

 

 

—

 

 

—

 

Indirect

 

 

362

 

 

—

 

 

—

 

Total loans

 

$

3,668

 

$

389

 

$

—

 

 

 

 

 

 

Loans on Non-Accrual Status

 

 

 

December 31, 2024

 

 

 

(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

 

 

665

 

 

404

 

 

—

 

Secured by multi-family residential properties

 

 

—

 

 

—

 

 

—

 

Secured by non-residential commercial real estate

 

 

—

 

 

—

 

 

—

 

Commercial and industrial loans

 

 

3,284

 

 

—

 

 

—

 

Consumer loans:

 

 

 

 

 

 

—

 

Direct

 

 

—

 

 

—

 

 

—

 

Indirect

 

 

—

 

 

—

 

 

—

 

Total loans

 

$

3,949

 

$

404

 

$

—

 
Schedule of Amortized Cost Basis of Collateral Dependent Loans

The following tables present the amortized cost basis of collateral dependent loans as of March 31, 2025 and December 31, 2024, which loans are individually evaluated to determine credit losses:

 

 

 

March 31, 2025

 

 

 

Real Estate

 

 

Other

 

 

Total

 

 

 

(Dollars in Thousands)

 

Loans secured by real estate

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

 

$

2,464

 

 

$

—

 

 

$

2,464

 

Secured by 1-4 family residential properties

 

 

1,367

 

 

 

—

 

 

 

1,367

 

Secured by multi-family residential properties

 

 

—

 

 

 

—

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

371

 

 

 

—

 

 

 

371

 

Commercial and industrial

 

 

—

 

 

 

2,693

 

 

 

2,693

 

Direct consumer

 

 

—

 

 

 

—

 

 

 

—

 

Total loans individually evaluated

 

$

4,202

 

 

$

2,693

 

 

$

6,895

 

 

 

 

December 31, 2024

 

 

 

Real Estate

 

 

Other

 

 

Total

 

 

 

(Dollars in Thousands)

 

Loans secured by real estate

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

 

$

2,489

 

 

$

—

 

 

$

2,489

 

Secured by 1-4 family residential properties

 

 

1,402

 

 

 

—

 

 

 

1,402

 

Secured by multi-family residential properties

 

 

—

 

 

 

—

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

383

 

 

 

—

 

 

 

383

 

Commercial and industrial

 

 

—

 

 

 

3,327

 

 

 

3,327

 

Direct consumer

 

 

—

 

 

 

—

 

 

 

—

 

Total loans individually evaluated

 

$

4,274

 

 

$

3,327

 

 

$

7,601