ALLOWANCE FOR CREDIT LOSSES - LOANS

Schedule of loan portfolio and allowance for credit losses

AT DECEMBER 31, 2024

COMMERCIAL

REAL ESTATE

OTHER COMMERCIAL

REAL ESTATE

OTHER COMMERCIAL

(NON-OWNER OCCUPIED) -

REAL ESTATE

RESIDENTIAL

Loans:

(OWNER OCCUPIED)

AND INDUSTRIAL

RETAIL

MULTI-FAMILY

(NON-OWNER OCCUPIED)

MORTGAGES

CONSUMER

TOTAL

(IN THOUSANDS)

Individually evaluated

$

3,429

$

1,675

$

—

$

—

$

8,773

$

379

$

10

$

14,266

Collectively evaluated

83,524

145,576

181,778

132,364

225,109

176,731

108,601

1,053,683

Total loans

$

86,953

$

147,251

$

181,778

$

132,364

$

233,882

$

177,110

$

108,611

$

1,067,949

AT DECEMBER 31, 2024

COMMERCIAL

REAL ESTATE

OTHER COMMERCIAL

Allowance for

REAL ESTATE

OTHER COMMERCIAL

(NON-OWNER OCCUPIED) -

REAL ESTATE

RESIDENTIAL

credit losses:

(OWNER OCCUPIED)

AND INDUSTRIAL

RETAIL

MULTI-FAMILY

(NON-OWNER OCCUPIED)

MORTGAGES

CONSUMER

TOTAL

(IN THOUSANDS)

Specific reserve allocation

$

—

$

541

$

—

$

—

$

—

$

—

$

—

$

541

General reserve allocation

398

2,319

3,695

1,478

3,451

839

1,191

13,371

Total allowance for credit losses

$

398

$

2,860

$

3,695

$

1,478

$

3,451

$

839

$

1,191

$

13,912


	AT DECEMBER 31, 2023
					COMMERCIAL		COMMERCIAL
	COMMERCIAL				REAL ESTATE		REAL ESTATE		OTHER COMMERCIAL
	REAL ESTATE		OTHER COMMERCIAL		(NON-OWNER OCCUPIED) -		(NON-OWNER OCCUPIED) -		REAL ESTATE		RESIDENTIAL
Loans:	(OWNER OCCUPIED)		AND INDUSTRIAL		RETAIL		MULTI-FAMILY		(NON-OWNER OCCUPIED)		MORTGAGES		CONSUMER		TOTAL

	(IN THOUSANDS)
Individually evaluated	$	187	$	1,694	$	—	$	—	$	8,780	$	173	$	—	$	10,834
Collectively evaluated		88,960		157,730		161,961		110,008		231,506		174,497		102,775		1,027,437
Total loans	$	89,147	$	159,424	$	161,961	$	110,008	$	240,286	$	174,670	$	102,775	$	1,038,271


	AT DECEMBER 31, 2023
					COMMERCIAL		COMMERCIAL
	COMMERCIAL				REAL ESTATE		REAL ESTATE		OTHER COMMERCIAL
Allowance for	REAL ESTATE		OTHER COMMERCIAL		(NON-OWNER OCCUPIED) -		(NON-OWNER OCCUPIED) -		REAL ESTATE		RESIDENTIAL
credit losses:	(OWNER OCCUPIED)		AND INDUSTRIAL		RETAIL		MULTI-FAMILY		(NON-OWNER OCCUPIED)		MORTGAGES		CONSUMER		TOTAL

	(IN THOUSANDS)
Specific reserve allocation	$	—	$	414	$	—	$	—	$	—	$	—	$	—	$	414
General reserve allocation		1,529		2,616		3,488		1,430		3,428		1,021		1,127		14,639
Total allowance for credit losses	$	1,529	$	3,030	$	3,488	$	1,430	$	3,428	$	1,021	$	1,127	$	15,053

Schedule of non performing assets from the loan portfolio


	AT DECEMBER 31, 2024
	NON-ACCRUAL WITH NO ACL		NON-ACCRUAL WITH ACL		TOTAL NON-ACCRUAL		LOANS PAST DUE OVER 90 DAYS STILL ACCRUING		OREO AND REPOSSESSED ASSETS		TOTAL NON-PERFORMING ASSETS
Commercial real estate (owner occupied)	$	152	$	—	$	152	$	—	$	—	$	152
Other commercial and industrial		—		675		675		97		234		1,006
Other commercial real estate (non-owner occupied)		8,773		—		8,773		—		1,476		10,249
Residential mortgages		379		—		379		26		14		419
Consumer		10		821		831		—		—		831
Total	$	9,314	$	1,496	$	10,810	$	123	$	1,724	$	12,657


	AT DECEMBER 31, 2023
	NON-ACCRUAL WITH NO ACL		NON-ACCRUAL WITH ACL		TOTAL NON-ACCRUAL		LOANS PAST DUE OVER 90 DAYS STILL ACCRUING		OREO AND REPOSSESSED ASSETS		TOTAL NON-PERFORMING ASSETS
Commercial real estate (owner occupied)	$	187	$	—	$	187	$	—	$	—	$	187
Other commercial and industrial		—		1,694		1,694		211		—		1,905
Other commercial real estate (non-owner occupied)		8,780		—		8,780		—		—		8,780
Residential mortgages		173		545		718		—		15		733
Consumer		—		788		788		—		—		788
Total	$	9,140	$	3,027	$	12,167	$	211	$	15	$	12,393

Schedule of Residential and consumer portfolio


	AT DECEMBER 31, 2024
													REVOLVING		REVOLVING
													LOANS		LOANS
													AMORTIZED		CONVERTED
	TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR												COST		TO
	2024		2023		2022		2021		2020		PRIOR		BASIS		TERM		TOTAL

	(IN THOUSANDS)
Residential mortgages
Performing	$	12,877	$	15,602	$	10,400	$	57,540	$	41,868	$	38,418	$	—	$	—	$	176,705
Non-performing		—		—		—		—		—		405		—		—		405
Total	$	12,877	$	15,602	$	10,400	$	57,540	$	41,868	$	38,823	$	—	$	—	$	177,110
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Consumer
Performing	$	11,476	$	10,988	$	16,397	$	7,605	$	2,475	$	4,299	$	53,876	$	664	$	107,780
Non-performing		—		110		46		—		59		344		272		—		831
Total	$	11,476	$	11,098	$	16,443	$	7,605	$	2,534	$	4,643	$	54,148	$	664	$	108,611
Current period gross charge-offs	$	5	$	6	$	21	$	19	$	13	$	143	$	—	$	—	$	207
Total by payment performance
Performing	$	24,353	$	26,590	$	26,797	$	65,145	$	44,343	$	42,717	$	53,876	$	664	$	284,485
Non-performing		—		110		46		—		59		749		272		—		1,236
Total	$	24,353	$	26,700	$	26,843	$	65,145	$	44,402	$	43,466	$	54,148	$	664	$	285,721
Current period gross charge-offs	$	5	$	6	$	21	$	19	$	13	$	143	$	—	$	—	$	207


	AT DECEMBER 31, 2023
													REVOLVING		REVOLVING
													LOANS		LOANS
													AMORTIZED		CONVERTED
	TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR												COST		TO
	2023		2022		2021		2020		2019		PRIOR		BASIS		TERM		TOTAL

	(IN THOUSANDS)
Residential mortgages
Performing	$	14,576	$	11,620	$	61,172	$	44,049	$	7,092	$	35,443	$	—	$	—	$	173,952
Non-performing		—		—		—		—		—		718		—		—		718
Total	$	14,576	$	11,620	$	61,172	$	44,049	$	7,092	$	36,161	$	—	$	—	$	174,670
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	54	$	—	$	—	$	54
Consumer
Performing	$	13,890	$	20,430	$	9,782	$	3,190	$	1,169	$	4,515	$	48,344	$	667	$	101,987
Non-performing		15		—		—		73		42		280		157		221		788
Total	$	13,905	$	20,430	$	9,782	$	3,263	$	1,211	$	4,795	$	48,501	$	888	$	102,775
Current period gross charge-offs	$	9	$	35	$	43	$	7	$	8	$	173	$	—	$	—	$	275
Total by payment performance
Performing	$	28,466	$	32,050	$	70,954	$	47,239	$	8,261	$	39,958	$	48,344	$	667	$	275,939
Non-performing		15		—		—		73		42		998		157		221		1,506
Total	$	28,481	$	32,050	$	70,954	$	47,312	$	8,303	$	40,956	$	48,501	$	888	$	277,445
Current period gross charge-offs	$	9	$	35	$	43	$	7	$	8	$	227	$	—	$	—	$	329

Schedule of modifications made to borrowers experiencing financial difficulty

The following tables summarize the amortized cost basis of loans modified to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023 (in thousands).


	YEAR ENDED DECEMBER 31, 2024
	PAYMENT DELAY
	AMORTIZED COST BASIS		% OF TOTAL CLASS OF LOANS
Commercial real estate (owner occupied)	$	152		0.17	%
Total	$	152

	TERM EXTENSION
	AMORTIZED COST BASIS		% OF TOTAL CLASS OF LOANS
Other commercial and industrial	$	154		0.10	%
Total	$	154

	COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION
	AMORTIZED COST BASIS		% OF TOTAL CLASS OF LOANS
Other commercial and industrial	$	480		0.33	%
Total	$	480

As of December 31, 2024, the modified loans described in the table above were current as to payments.


	YEAR ENDED DECEMBER 31, 2023
	TERM EXTENSION
	AMORTIZED COST BASIS		% OF TOTAL CLASS OF LOANS
Residential mortgages	$	37		0.02	%
Total	$	37

	COMBINATION - INTEREST RATE REDUCTION AND TERM EXTENSION
	AMORTIZED COST BASIS		% OF TOTAL CLASS OF LOANS
Other commercial real estate (non-owner occupied)	$	6,243		2.60	%
Total	$	6,243


YEAR ENDED DECEMBER 31, 2024
PAYMENT DELAY
LOAN TYPE		FINANCIAL EFFECT
Commercial real estate (owner occupied)		Provided 60 months of additional amortization period to lower borrower's monthly payment.

TERM EXTENSION
LOAN TYPE		FINANCIAL EFFECT
Other commercial and industrial		During the first, second, and third quarters of 2024, provided a maturity date extension of ninety days and modified seasonal principal and interest payments to interest only until maturity. During the fourth quarter, provided the same borrower an additional maturity date extension of one year and required monthly principal and interest payments.

COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION
LOAN TYPE		FINANCIAL EFFECT
Other commercial and industrial		As a result of the borrower's bankruptcy, the maturity date of the loan was extended four years and a portion of the principal balance was converted to an equity investment in the borrower.


YEAR ENDED DECEMBER 31, 2023
TERM EXTENSION
LOAN TYPE		FINANCIAL EFFECT
Residential mortgages		During the fourth quarter, provided a maturity date extension of approximately 15 years.

COMBINATION - INTEREST RATE REDUCTION AND TERM EXTENSION
LOAN TYPE		FINANCIAL EFFECT
Other commercial real estate (non-owner occupied)		During the second quarter, provided seven months of interest only payments at a reduced rate with the remaining portion of interest, totaling approximately $303,000, being deferred until maturity. Additionally, provided three month maturity date extension. A partial charge-down of $804,000 was recorded on this loan in the fourth quarter.