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Loans

6 Months Ended

Jun. 30, 2023

Loans

Loans

8.    Loans

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Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of any deferred fees or costs and an allowance for credit losses. Accrued interest receivable on loans totaled $3.5 million as of June 30, 2023 and December 31, 2022 which is reported in accrued interest income receivable on the Consolidated Balance Sheets and is excluded from the estimate of credit losses. Interest income is accrued on the unpaid principal balance. Loan origination fees, net of certain direct origination costs, are deferred and recognized as an adjustment of the yield (interest income) over the contractual life of the loan.

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The segments of the Company’s loan portfolio are disaggregated into classes that allows management to monitor risk and performance. The loan classes used are consistent with the internal reports evaluated by the Company’s management and Board of Directors to monitor risk and performance within various segments of its loan portfolio. The commercial loan segment includes both the owner occupied commercial real estate loan and the other commercial and industrial loan classes. The commercial real estate loan segment includes the non-owner occupied commercial real estate loan classes of retail, multi-family, and other. The residential mortgage loan segment is comprised of first lien amortizing residential mortgage loans while the consumer loan segment consists primarily of home equity loans secured by residential real estate, installment loans, and overdraft lines of credit associated with customer deposit accounts.

The loan portfolio of the Company consists of the following (in thousands):

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​	​	​	​
​	​	June 30, 2023
Commercial:	​	​	​
Commercial real estate (owner occupied) (1)	​	$	86,949
Other commercial and industrial	​	​	150,842
Commercial real estate (non-owner occupied):		​	​
Retail (1)	​	​	153,164
Multi-family (1)	​	​	100,322
Other (1)	​	​	219,558
Residential mortgages		​	175,787
Consumer		​	101,039
Loans, net of unearned income	​	$	987,661

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​	​	​	​
​	​	December 31, 2022
Commercial:	​	​	​
Commercial and industrial	​	$	153,398
Paycheck Protection Program (PPP)	​	​	22
Commercial real estate (owner occupied) (1)		​	75,158
Commercial real estate (non-owner occupied) (1)		​	450,744
Residential mortgages (1)		​	297,971
Consumer		​	13,473
Loans, net of unearned income	​	$	990,766

(1) Real estate construction loans constituted 2.4% and 4.7% of the Company’s total loans, net of unearned income as of June 30, 2023 and December 31, 2022, respectively.

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Loan balances at June 30, 2023 and December 31, 2022 are net of unearned income of $327,000 and $343,000, respectively.

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- References

No definition available.

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- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org//310-10/tableOfContent

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