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Summary of Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2023

Accounting Policies [Abstract]

Summary of impact of the adoption

The following table illustrates the impact of the adoption of ASU 2016-13:

		January 1, 2023
		As reported under ASC 326			Pre-ASC 326 Adoption			Impact of ASC 326 Adoption
		(Dollars in thousands)
ASSETS
Allowance for credit losses on loans:
Commercial real estate (CRE)		$	788		$	942		$	(154	)
Multifamily (MF)			55			54			1
Commercial and industrial (C+I)			273			184			89
Acquisition, development, and land (ADL)			120			138			(18	)
1-4 family residential (RES)			1,847			2,048			(201	)
Home equity line of credit (HELOC)			88			81			7
Consumer (CON)			114			100			14
Unallocated			1			34			(33	)
Allowance for credit losses on loans		$	3,286		$	3,581			(295	)
LIABILITIES
Allowance for credit losses on OBS credit exposures		$	308		$	18		$	290

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- References

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- Definition

Tabular disclosure of changes in accounting principles, including adoption of new accounting pronouncements, that describes the new methods, amount and effects on financial statement line items.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-1

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-12

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 270
-SubTopic 10
-Section 45
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482989/270-10-45-13

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