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ALLOWANCE FOR CREDIT LOSSES | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
ALLOWANCE FOR CREDIT LOSSES | ALLOWANCE FOR CREDIT LOSSES The following schedules present the activity in the ACL by loan segment for the three and nine months ended September 30, 2024 and September 30, 2023:
Three Months Ended | Real Estate - Residential |  | Real Estate - Commercial |  | Real Estate - Construction and Land |  | Commercial and Industrial |  |  |  | Consumer and Other |  |  |  | Total
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 1,234 |  |  | $ | 1,864 |  |  | $ | 555 |  |  | $ | 7,714 |  |  |  |  | $ | 2,476 |  |  |  |  | $ | 13,843 |
Charge-offs | (20) |  |  | — |  |  | — |  |  | (2,375) |  |  |  |  | (550) |  |  |  |  | (2,945) |
Recoveries | — |  |  | 2 |  |  | — |  |  | 111 |  |  |  |  | 75 |  |  |  |  | 188 |
Provision | (41) |  |  | (3) |  |  | (41) |  |  | 2,855 |  |  |  |  | 330 |  |  |  |  | 3,100 |
Ending Balance | $ | 1,173 |  |  | $ | 1,863 |  |  | $ | 514 |  |  | $ | 8,305 |  |  |  |  | $ | 2,331 |  |  |  |  | $ | 14,186 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 2,542 |  |  | $ | 1,889 |  |  | $ | 359 |  |  | $ | 7,011 |  |  |  |  | $ | 797 |  |  |  |  | $ | 12,598 |
Charge-offs | — |  |  | (108) |  |  | — |  |  | (1,542) |  |  |  |  | (875) |  |  |  |  | (2,525) |
Recoveries | 8 |  |  | 75 |  |  | — |  |  | 114 |  |  |  |  | 93 |  |  |  |  | 290 |
Provision | 131 |  |  | (298) |  |  | 121 |  |  | 1,861 |  |  |  |  | 1,187 |  |  |  |  | 3,002 |
Ending Balance | $ | 2,681 |  |  | $ | 1,558 |  |  | $ | 480 |  |  | $ | 7,444 |  |  |  |  | $ | 1,202 |  |  |  |  | $ | 13,365 |
| Real Estate - Residential |  | Real Estate - Commercial |  | Real Estate - Construction and Land |  | Commercial and Industrial |  |  |  | Consumer and Other |  | Unallocated |  | Total
Nine Months Ended |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 1,987 |  |  | $ | 1,818 |  |  | $ | 519 |  |  | $ | 6,579 |  |  |  |  | $ | 2,594 |  |  | $ | — |  |  | $ | 13,497 |
Charge-offs | (20) |  |  | (60) |  |  | — |  |  | (7,898) |  |  |  |  | (2,299) |  |  | — |  |  | (10,277) |
Recoveries | — |  |  | 6 |  |  | — |  |  | 352 |  |  |  |  | 249 |  |  | — |  |  | 607 |
Provision | (794) |  |  | 99 |  |  | (5) |  |  | 9,272 |  |  |  |  | 1,787 |  |  | — |  |  | 10,359 |
Ending Balance | $ | 1,173 |  |  | $ | 1,863 |  |  | $ | 514 |  |  | $ | 8,305 |  |  |  |  | $ | 2,331 |  |  | $ | — |  |  | $ | 14,186 |
September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Beginning Balance | $ | 731 |  |  | $ | 956 |  |  | $ | 28 |  |  | $ | 6,182 |  |  |  |  | $ | 1,090 |  |  | $ | 59 |  |  | $ | 9,046 |
Impact of adopting ASC 326 | 1,479 |  |  | 613 |  |  | 281 |  |  | 1,116 |  |  |  |  | (323) |  |  | (59) |  |  | 3,107 |
Charge-offs | — |  |  | (108) |  |  | — |  |  | (4,660) |  |  |  |  | (2,214) |  |  | — |  |  | (6,982) |
Recoveries | 8 |  |  | 77 |  |  | — |  |  | 303 |  |  |  |  | 219 |  |  | — |  |  | 607 |
Provision | 463 |  |  | 20 |  |  | 171 |  |  | 4,503 |  |  |  |  | 2,430 |  |  | — |  |  | 7,587 |
Ending Balance | $ | 2,681 |  |  | $ | 1,558 |  |  | $ | 480 |  |  | $ | 7,444 |  |  |  |  | $ | 1,202 |  |  | $ | — |  |  | $ | 13,365 |
The ACL represents management’s best estimate of future lifetime expected losses on its HFI loan portfolio. The Company calculates its ACL by estimating expected credit losses on a collective basis for loans that share similar risk characteristics. Loans that do not share similar risk characteristics with other loans are evaluated for credit losses on an individual basis. The Company uses a combination of modeled and non-modeled approaches that incorporates current and future economic conditions to estimate lifetime expected losses on a collective basis. Individually evaluated loans are evaluated for impairment and a portion of the allowance is allocated so that the loan is reported, net, at the present value of estimated future cash flows using the rate implicit in the original loan agreement or at the fair value of collateral adjusted for selling costs as appropriate if repayment is expected solely from the collateral. The Company uses reasonable and supportable forecasts that are developed with internal and external data. These are updated quarterly by management and utilize data from the FOMC’s median forecasts of change in national GDP and of national unemployment. The FOMC’s forecast of GDP and unemployment for the next calendar year is used in conjunction with the most recent 4 quarters of historical data from FRED (Federal Reserve Economic Data) to determine changes in certain qualitative factors used in calculating loss rates. See Note 1 and Note 5 of the Notes to Consolidated Financial Statements for further discussion of the Company’s ACL methodology in the December 31, 2023 Form 10-K. The Company maintains a separate ACL for its off-balance sheet unfunded loan commitments. The ACL on unfunded loan commitments is based on estimates of probability that these commitments will be drawn upon according to historical utilization experience, expected loss severity and loss rates as determined for pooled funded loans. As of September 30, 2024 and December 31, 2023, the ACL for unfunded commitments recorded in other liabilities was $664 and $839, respectively. The following table presents the activity in the ACL for unfunded commitments for the three and nine months ended September 30, 2024 and September 30, 2023:
| For the Three Months Ended |  | For the Nine Months Ended
| September 30, 2024 |  | September 30, 2023 |  | September 30, 2024 |  | September 30, 2023
Balance at beginning of period | $ | 641 |  |  | $ | 844 |  |  | $ | 839 |  |  | $ | 511 |
Impact of adopting ASC 326 | — |  |  | — |  |  | — |  |  | 213 |
Provision for credit losses on unfunded commitments | 23 |  |  | — |  |  | (175) |  |  | 120 |
Unfunded commitments charge-offs | — |  |  | — |  |  | — |  |  | — |
Unfunded commitments recoveries | — |  |  | — |  |  | — |  |  | — |
Balance at end of period | $ | 664 |  |  | $ | 844 |  |  | $ | 664 |  |  | $ | 844 |
The following tables present the principal balance of nonaccrual loans and loans past due over 89 days still on accrual by loan segment at September 30, 2024 and December 31, 2023. In the following tables, the principal balance does not include the government guaranteed balance or loans measured at fair value.
September 30, 2024 | Nonaccrual with no ACL(1) |  | Nonaccrual with ACL(1) |  | Loans Past Due Over 89 Days Still Accruing(1)
Real estate - residential | $ | — |  |  | $ | 4,838 |  |  | $ | 233 |  |
Real estate - commercial | — |  |  | 4,207 |  |  | — |  |
Commercial and industrial | — |  |  | 1,429 |  |  | 3 |  |
Consumer and other | — |  |  | — |  |  | 282 |  |
Total | $ | — |  |  | $ | 10,474 |  |  | $ | 518 |  |
December 31, 2023 | Nonaccrual with no ACL(1) |  | Nonaccrual with ACL(1) |  | Loans Past Due Over 89 Days Still Accruing(1)
Real estate - residential | $ | — |  |  | $ | 4,654 |  |  | $ | 583 |
Real estate - commercial | — |  |  | 1,159 |  |  | — |
Commercial and industrial | — |  |  | 1,587 |  |  | — |
Consumer and other | — |  |  | — |  |  | 282 |
Total | $ | — |  |  | $ | 7,400 |  |  | $ | 865 |
(1) Excludes loans measured at fair value. See Note 6. Fair Value for additional information. A financial asset is considered collateral dependent when the debtor is experiencing financial difficulty and repayment is expected to be provided substantially through the sale or operation of the collateral. Expected credit losses for collateral dependent loans are based on the fair value of the collateral at the reporting date, adjusted for selling costs as appropriate. Significant quarter over quarter changes are reflective of changes in nonaccrual status and not necessarily associated with credit quality indicators like appraised value. As of September 30, 2024 there were no loans individually evaluated. The following table presents the principal balance of individually analyzed collateral dependent loans by loan portfolio segment as of December 31, 2023:
December 31, 2023 |  |  |  | Type of Collateral |  | ACL
|  |  |  |  | Business Assets |  |
Commercial and industrial |  |  |  |  | $ | 390 |  |  | $ | 255 |
The following table presents the aging of the principal balance of past due loans HFI at amortized cost at September 30, 2024 by loan segment:
| 30-89 Days Past Due |  | Greater Than 89 Days Past Due |  | Total Past Due |  | Loans Not Past Due (1) |  | Total Loans
Real estate - residential | $ | 1,926 |  |  | $ | 5,070 |  |  | $ | 6,996 |  |  | $ | 314,744 |  |  | $ | 321,740 |
Real estate - commercial | 499 |  |  | 4,108 |  |  | 4,607 |  |  | 287,419 |  |  | 292,026 |
Real estate - construction and land | — |  |  | — |  |  | — |  |  | 33,784 |  |  | 33,784 |
Commercial and industrial | 3,332 |  |  | 1,228 |  |  | 4,560 |  |  | 195,652 |  |  | 200,212 |
Commercial and industrial - PPP | — |  |  | — |  |  | — |  |  | 1,656 |  |  | 1,656 |
Consumer and other | 747 |  |  | 282 |  |  | 1,029 |  |  | 91,517 |  |  | 92,546 |
Total | $ | 6,504 |  |  | $ | 10,688 |  |  | $ | 17,192 |  |  | $ | 924,772 |  |  | $ | 941,964 |
(1) $1,733 of balances 30-89 days past due and $4,252 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guarantee. Of those loans, $1,228 of commercial and industrial PPP loans were delinquent as of September 30, 2024.
The following table presents the aging of the principal balance of past due loans HFI at amortized cost at December 31, 2023 by loan segment:
| 30-89 Days Past Due |  | Greater Than 89 Days Past Due |  | Total Past Due |  | Loans Not Past Due (1) |  | Total Loans
Real estate - residential | $ | 1,840 |  |  | $ | 5,184 |  |  | $ | 7,024 |  |  | $ | 257,102 |  |  | $ | 264,126 |
Real estate - commercial | 2,870 |  |  | 791 |  |  | 3,661 |  |  | 289,934 |  |  | 293,595 |
Real estate - construction and land | — |  |  | — |  |  | — |  |  | 26,272 |  |  | 26,272 |
Commercial and industrial | 3,970 |  |  | 603 |  |  | 4,573 |  |  | 172,993 |  |  | 177,566 |
Commercial and industrial - PPP | — |  |  | — |  |  | — |  |  | 3,202 |  |  | 3,202 |
Consumer and other | 1,221 |  |  | 282 |  |  | 1,503 |  |  | 45,784 |  |  | 47,287 |
Total | $ | 9,901 |  |  | $ | 6,860 |  |  | $ | 16,761 |  |  | $ | 795,287 |  |  | $ | 812,048 |
(1) $1,469 of balances 30-89 days past due and $638 of balances greater than 89 days past due are reported as Loans Not Past Due as a result of the government guarantee. Of those loans, $261 of commercial and industrial PPP loans were delinquent as of December 31, 2023.
Modifications to Borrowers Experiencing Financial Difficulty For the three and nine months ended September 30, 2024 and the year ended December 31, 2023, there were no loan modifications to borrowers experiencing financial difficulty and no loan modifications that subsequently defaulted during the period. Credit Quality Indicators Internal risk-rating grades are assigned to loans by lending, credit administration or loan review personnel, based on an analysis of the financial and collateral strength and other credit attributes underlying each loan. Management analyzes the resulting ratings, as well as other statistics and factors such as delinquency, to track the migration performance of the portfolio balances. This analysis is performed at least annually. The Bank uses the following definitions for its risk ratings: Pass – Loans properly approved, documented, collateralized, and performing which do not reflect an abnormal credit risk. Special Mention – These credits have potential weaknesses that may, if not checked or corrected, weaken the asset, or inadequately protect the Company’s position at some future date. These assets pose elevated risk, but their weakness does not yet justify a “Substandard” classification. Substandard – These loans are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Doubtful – These loans have all the weaknesses inherent in those classified as Substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. The table below sets forth principal balance for the commercial loan portfolio disaggregated by loan segment based on internally assigned risk ratings at September 30, 2024 and gross write offs for the nine months ended September 30, 2024:
|  |  |  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  | Loans |  | Loans |  |
| Term Loans Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Cost Basis |  | to Term |  | Total
Real estate - commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 40,742 |  |  | $ | 67,755 |  |  | $ | 71,376 |  |  | $ | 47,918 |  |  | $ | 53,626 |  |  | $ | 2,528 |  |  | $ | — |  |  | $ | 283,945 |
Special mention | 154 |  |  | 814 |  |  | 2,368 |  |  | 117 |  |  | 410 |  |  | 10 |  |  | — |  |  | 3,873 |
Substandard | — |  |  | 2,971 |  |  | 291 |  |  | 99 |  |  | 847 |  |  | — |  |  | — |  |  | 4,208 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total real estate - commercial loans, at amortized cost, gross | 40,896 |  |  | 71,540 |  |  | 74,035 |  |  | 48,134 |  |  | 54,883 |  |  | 2,538 |  |  | — |  |  | 292,026 |
Gross write offs | — |  |  | — |  |  | 60 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 60 |
Real estate - construction and land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,951 |  |  | 19,747 |  |  | 9,245 |  |  | 2,841 |  |  | — |  |  | — |  |  | — |  |  | 33,784 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total real estate - construction and land loans, at amortized cost, gross | 1,951 |  |  | 19,747 |  |  | 9,245 |  |  | 2,841 |  |  | — |  |  | — |  |  | — |  |  | 33,784 |
Gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
|  |  |  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  | Loans |  | Loans |  |
| Term Loans Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Cost Basis |  | to Term |  | Total
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 51,316 |  |  | 42,657 |  |  | 35,791 |  |  | 11,170 |  |  | 39,896 |  |  | 9,057 |  |  | — |  |  | 189,887 |
Special mention | 215 |  |  | 1,994 |  |  | 2,268 |  |  | 626 |  |  | 3,739 |  |  | — |  |  | — |  |  | 8,842 |
Substandard | — |  |  | 42 |  |  | 459 |  |  | 11 |  |  | 971 |  |  | — |  |  | — |  |  | 1,483 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial and industrial loans, at amortized cost, gross | 51,531 |  |  | 44,693 |  |  | 38,518 |  |  | 11,807 |  |  | 44,606 |  |  | 9,057 |  |  | — |  |  | 200,212 |
Gross write offs | — |  |  | 2,533 |  |  | 2,572 |  |  | 317 |  |  | 2,476 |  |  | — |  |  | — |  |  | 7,898 |
Commercial and industrial - PPP |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | — |  |  | 223 |  |  | 434 |  |  | — |  |  | — |  |  | 657 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | 999 |  |  | — |  |  | — |  |  | 999 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total commercial and industrial - PPP loans, at amortized cost, gross | — |  |  | — |  |  | — |  |  | 223 |  |  | 1,433 |  |  | — |  |  | — |  |  | 1,656 |
Gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
The table below sets forth principal balance for the commercial loan portfolio disaggregated by loan segment based on internally assigned risk ratings at December 31, 2023 and gross write offs for the year ended December 31, 2023:
|  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  | Loans |  | Loans |  |  |  |
| Term Loans Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |  |  |
| 2023 |  | 2022 |  | 2021 |  | Prior |  | Cost Basis |  | to Term |  | Total |  |
Real estate - commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 94,092 |  |  | $ | 79,712 |  |  | $ | 50,985 |  |  | $ | 64,648 |  |  | $ | 2,439 |  |  | $ | — |  |  | $ | 291,876 |  |  |
Special mention | — |  |  | 482 |  |  | 78 |  |  | — |  |  | — |  |  | — |  |  | 560 |  |  |
Substandard | — |  |  | 195 |  |  | 31 |  |  | 933 |  |  | — |  |  | — |  |  | 1,159 |  |  |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total real estate - commercial loans, at amortized cost, gross | 94,092 |  |  | 80,389 |  |  | 51,094 |  |  | 65,581 |  |  | 2,439 |  |  | — |  |  | 293,595 |  |  |
Gross write offs | — |  |  | 101 |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 108 |  |  |
|  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |  |  |
|  |  |  |  |  |  |  |  | Loans |  | Loans |  |  |  |
| Term Loans Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |  |  |
| 2023 |  | 2022 |  | 2021 |  | Prior |  | Cost Basis |  | to Term |  | Total |  |
Real estate - construction and land |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 11,366 |  |  | 12,755 |  |  | 2,151 |  |  | — |  |  | — |  |  | — |  |  | 26,272 |  |  |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total real estate - construction and land loans, at amortized cost, gross | 11,366 |  |  | 12,755 |  |  | 2,151 |  |  | — |  |  | — |  |  | — |  |  | 26,272 |  |  |
Gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Commercial and industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 51,212 |  |  | 45,325 |  |  | 13,807 |  |  | 54,003 |  |  | 10,750 |  |  | — |  |  | 175,097 |  |  |
Special mention | — |  |  | 150 |  |  | 43 |  |  | 671 |  |  | — |  |  | — |  |  | 864 |  |  |
Substandard | — |  |  | 1,004 |  |  | 14 |  |  | 587 |  |  | — |  |  | — |  |  | 1,605 |  |  |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total commercial and industrial loans, at amortized cost, gross | 51,212 |  |  | 46,479 |  |  | 13,864 |  |  | 55,261 |  |  | 10,750 |  |  | — |  |  | 177,566 |  |  |
Gross write offs | 325 |  |  | 1,543 |  |  | 259 |  |  | 4,113 |  |  | — |  |  | — |  |  | 6,240 |  |  |
Commercial and industrial - PPP |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Risk Rating |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | 135 |  |  | 3,067 |  |  | — |  |  | — |  |  | 3,202 |  |  |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total commercial and industrial - PPP loans, at amortized cost, gross | — |  |  | — |  |  | 135 |  |  | 3,067 |  |  | — |  |  | — |  |  | 3,202 |  |  |
Gross write offs | — |  |  | — |  |  | — |  |  | 223 |  |  | — |  |  | — |  |  | 223 |  |  |
The Company considers the performance of the loan portfolio to determine its impact on the ACL. For residential and consumer loan classes, the Company evaluates credit quality based on the aging status of the loan by payment activity. The following table presents the principal balance at September 30, 2024 in residential and consumer loans based on payment activity as well as gross write offs for the nine months ended September 30, 2024.
|  |  |  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |
|  |  |  |  |  |  |  |  |  |  | Loans |  | Loans |  |
| Term Loans Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Cost Basis |  | to Term |  | Total
Real estate - residential |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 31,743 |  |  | $ | 28,410 |  |  | $ | 84,265 |  |  | $ | 23,020 |  |  | $ | 17,892 |  |  | $ | 131,339 |  |  | $ | — |  |  | $ | 316,669 |
Nonperforming | — |  |  | — |  |  | 814 |  |  | 132 |  |  | 2,949 |  |  | 1,176 |  |  | — |  |  | 5,071 |
Total real estate - residential loans, at amortized cost, gross | 31,743 |  |  | 28,410 |  |  | 85,079 |  |  | 23,152 |  |  | 20,841 |  |  | 132,515 |  |  | — |  |  | 321,740 |
Gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | 20 |  |  | — |  |  | — |  |  | 20 |
Consumer and other |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | 56,112 |  |  | 22,437 |  |  | 11,635 |  |  | 701 |  |  | 156 |  |  | 1,223 |  |  | — |  |  | 92,264 |
Nonperforming | 32 |  |  | 16 |  |  | 234 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 282 |
Total consumer and other loans, at amortized cost, gross | 56,144 |  |  | 22,453 |  |  | 11,869 |  |  | 701 |  |  | 156 |  |  | 1,223 |  |  | — |  |  | 92,546 |
Gross write offs | — |  |  | 228 |  |  | 1,888 |  |  | 33 |  |  | 150 |  |  | — |  |  | — |  |  | 2,299 |
The following table presents the principal balance at December 31, 2023 in residential and consumer loans based on payment activity as well as gross write offs for the year ended December 31, 2023.
|  |  |  |  |  |  |  |  | Revolving |  | Revolving |  |
|  |  |  |  |  |  |  |  | Loans |  | Loans |  |
| Term Loans Amortized Cost Basis by Origination Year |  | Amortized |  | Converted |  |
| 2023 |  | 2022 |  | 2021 |  | Prior |  | Cost Basis |  | to Term |  | Total
Real estate - residential |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | $ | 31,377 |  |  | $ | 83,951 |  |  | $ | 24,524 |  |  | $ | 19,709 |  |  | $ | 99,328 |  |  | $ | — |  |  | $ | 258,889 |
Nonperforming | — |  |  | 1,197 |  |  | 286 |  |  | 2,951 |  |  | 803 |  |  | — |  |  | 5,237 |
Total real estate - residential loans, at amortized cost, gross | 31,377 |  |  | 85,148 |  |  | 24,810 |  |  | 22,660 |  |  | 100,131 |  |  | — |  |  | 264,126 |
Gross write offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Consumer and other |  |  |  |  |  |  |  |  |  |  |  |  |
Payment Performance |  |  |  |  |  |  |  |  |  |  |  |  |
Performing | 25,491 |  |  | 19,390 |  |  | 930 |  |  | 204 |  |  | 990 |  |  | — |  |  | 47,005 |
Nonperforming | — |  |  | 258 |  |  | 24 |  |  | — |  |  | — |  |  | — |  |  | 282 |
Total consumer and other loans, at amortized cost, gross | 25,491 |  |  | 19,648 |  |  | 954 |  |  | 204 |  |  | 990 |  |  | — |  |  | 47,287 |
Gross write offs | 79 |  |  | 3,182 |  |  | 11 |  |  | 8 |  |  | — |  |  | — |  |  | 3,280 |

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