XML 40 R30.htm IDEA: XBRL DOCUMENT v3.22.1

Loans and Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2021

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]

Major classifications of loans held for investment are as follows:

(In thousands)		December 31, 2021				December 31, 2020
Commercial and industrial		$	83,348			$	79,864
Consumer installment			1,099				10,259
Real estate – residential			5,452				4,319
Real estate – commercial			62,966				44,484
Real estate – construction and land			2,585				8,396
SBA:
SBA 7(a) guaranteed			145,983				164,687
SBA 7(a) unguaranteed			52,524				52,179
SBA 504			35,348				35,553
USDA			806				801
Factored receivables			38,636				-
Gross loans			428,747				400,542
Less:
Allowance for loan losses			4,152				2,941
Net loans		$	424,595			$	397,601

Financing Receivable, Nonaccrual [Table Text Block]

Non-accrual loans, segregated by class of loans, were as follows:

(In thousands)		December 31, 2021				December 31, 2020
Non-accrual loans:
Commercial and industrial		$	-			$	158
Real estate – commercial			149				-
SBA guaranteed			2,039				1,118
SBA unguaranteed			-				517
Total		$	2,188			$	1,793

Impaired Financing Receivables [Table Text Block]

The Company’s impaired loans and related allowance is summarized in the following table:

		Unpaid				Recorded				Recorded
		Contractual				Investment				Investment				Total								Average				Interest
		Principal				With No				With				Recorded				Related				Recorded				Income
(In thousands)		Balance				Allowance				Allowance				Investment				Allowance				Investment				Recognized
December 31, 2021																						Year Ended
Commercial and industrial		$	-			$	-			$	-			$	-			$	-			$	73			$	4
SBA			3,658				3,071				-				3,071				-				6,333				21
Total		$	3,658			$	3,071			$	-			$	3,071			$	-			$	6,406			$	25
December 31, 2020																						Year Ended
Commercial and industrial		$	-			$	-			$	-			$	-			$	-			$	10			$	-
Real estate – construction and land			-				-				-				-				-				313				-
SBA			6,649				2,976				-				2,976				-				3,206				61
Total		$	6,649			$	2,976			$	-			$	2,976			$	-			$	3,529			$	61

Financing Receivable, Past Due [Table Text Block]

Loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. The Company’s past due loans are as follows:

																						Total 90
						90 Days																Days Past
		30-89 Days				or More				Total				Total				Total				Due Still
(In thousands)		Past Due				Past Due				Past Due				Current				Loans				Accruing
December 31, 2021
Commercial and industrial		$	4			$	-			$	4			$	83,344			$	83,348			$	-
Consumer installment			-				-				-				1,099				1,099				-
Real estate – residential			-				-				-				5,452				5,452				-
Real estate – commercial			219				-				219				62,747				62,966				-
Real estate – construction and land			-				-				-				2,585				2,585				-
SBA			1,762				-				1,762				232,093				233,855				-
USDA			-				-				-				806				806				-
Factored receivables			1,743				400				2,143				36,493				38,636				400
Total		$	3,728			$	400			$	4,128			$	424,619			$	428,747			$	400
December 31, 2020
Commercial and industrial		$	-			$	-			$	-			$	79,864			$	79,864			$	-
Consumer installment			-				-				-				10,259				10,259				-
Real estate – residential			-				-				-				4,319				4,319				-
Real estate – commercial			121				158				279				44,205				44,484				-
Real estate – construction and land			-				-				-				8,396				8,396				-
SBA			-				1,635				1,635				250,784				252,419				-
USDA			-				-				-				801				801				-
Total		$	121			$	1,793			$	1,914			$	398,628			$	400,542			$	-

Financing Receivable Credit Quality Indicators [Table Text Block]

The following table summarizes the Company’s internal ratings of its loans as of the dates indicated:

						Pass-				Special
(In thousands)		Pass				Watch				Mention				Substandard				Doubtful				Total
December 31, 2021
Commercial and industrial		$	82,105			$	1,243			$	-			$	-			$	-			$	83,348
Consumer installment			1,099				-				-				-				-				1,099
Real estate – residential			5,242				-				-				210				-				5,452
Real estate – commercial			62,817				-				-				149				-				62,966
Real estate – construction and land			2,585				-				-				-				-				2,585
SBA			213,630				16,265				2,659				1,301				-				233,855
USDA			806				-				-				-				-				806
Factored receivables			38,636				-				-				-				-				38,636
Total		$	406,920			$	17,508			$	2,659			$	1,660			$	-			$	428,747
December 31, 2020
Commercial and industrial		$	79,134			$	730			$	-			$	-			$	-			$	79,864
Consumer installment			10,259				-				-				-				-				10,259
Real estate – residential			4,319				-				-				-				-				4,319
Real estate – commercial			44,326				-				-				158				-				44,484
Real estate – construction and land			8,396				-				-				-				-				8,396
SBA			243,533				5,242				1,794				1,850				-				252,419
USDA			801				-				-				-				-				801
Total		$	390,768			$	5,972			$	1,794			$	2,008			$	-			$	400,542

Financing Receivable, Allowance for Credit Loss [Table Text Block]

The following table summarizes the Company’s internal ratings of its loans as of the dates indicated:

(In thousands)		Commercial and Industrial				Consumer Installment				Real Estate Residential				Real Estate Commercial				Real Estate Construction and Land				SBA				USDA				Factored Receivables				Total
December 31, 2021
Beginning Balance		$	928			$	91			$	52			$	527			$	100			$	1,225			$	18			$	-			$	2,941
Provision for loan losses			189				(76	)			24				342				(60	)			1,031				2				762				2,214
Charge-offs			-				-				-				-				-				(952	)			-				(168	)			(1,120	)
Recoveries			37				-				-				-				-				20				-				60				117
Net recoveries (charge-offs)			37				-				-				-				-				(932	)			-				(108	)			(1,003	)
Ending balance		$	1,154			$	15			$	76			$	869			$	40			$	1,324			$	20			$	654			$	4,152
December 31, 2020
Beginning Balance		$	501			$	27			$	22			$	347			$	76			$	435			$	-			$	-			$	1,408
Provision for loan losses			394				64				30				180				24				999				18				-				1,709
Charge-offs			-				-				-				-				-				(218	)			-				-				(218	)
Recoveries			33				-				-				-				-				9				-				-				42
Net recoveries			33				-				-				-				-				(209	)			-				-				(176	)
Ending balance		$	928			$	91			$	52			$	527			$	100			$	1,225			$	18			$	-			$	2,941

(In thousands)		Commercial and Industrial				Consumer Installment				Real Estate Residential				Real Estate Commercial				Real Estate Construction and Land				SBA				USDA				Factored Receivables				Total
December 31, 2021
Loans individually evaluated for impairment		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Loans collectively evaluated for impairment			1,154				15				76				869				40				1,324				20				654				4,152
Ending balance		$	1,154			$	15			$	76			$	869			$	40			$	1,324			$	20			$	654			$	4,152
December 31, 2020
Loans individually evaluated for impairment		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-
Loans collectively evaluated for impairment			928				91				52				527				100				1,225				18				-				2,941
Ending balance		$	928			$	91			$	52			$	527			$	100			$	1,225			$	18			$	-			$	2,941

(In thousands)		Commercial and Industrial				Consumer Installment				Real Estate Residential				Real Estate Commercial				Real Estate Construction and Land				SBA				USDA				Factored Receivables				Total
December 31, 2021
Loans individually evaluated for impairment		$	-			$	-			$	-			$	-			$	-			$	3,071			$	-			$	-			$	3,071
Loans collectively evaluated for impairment			83,348				1,099				5,452				62,966				2,585				230,784				806				38,636				425,676
Ending balance		$	83,348			$	1,099			$	5,452			$	62,966			$	2,585			$	233,855			$	806			$	38,636			$	428,747
December 31, 2020
Loans individually evaluated for impairment		$	-			$	-			$	-			$	-			$	-			$	2,976			$	-			$	-			$	2,976
Loans collectively evaluated for impairment			79,864				10,259				4,319				44,484				8,396				249,443				801				-				397,566
Ending balance		$	79,864			$	10,259			$	4,319			$	44,484			$	8,396			$	252,419			$	801			$	-			$	400,542

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919249-210447

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of impaired financing receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5212-111524

+ Details

Name:	us-gaap_ImpairedFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of aging analysis for financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7A
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 55
-Paragraph 80
-URI http://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524

+ Details

Name:	us-gaap_PastDueFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
-URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682

+ Details

Name:	us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivable on nonaccrual status.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
-URI http://asc.fasb.org/extlink&oid=123577603&loc=d3e5111-111524

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 16
-URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919258-210447

+ Details

Name:	us-gaap_ScheduleOfFinancingReceivablesNonAccrualStatusTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration