Loans (Tables)
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6 Months Ended |
Jun. 30, 2025 |
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| Loans |
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| Classification of Loans By Class |
| | | | | | | (In thousands) | | June 30, 2025 | | December 31, 2024 | SBA loans held for investment | | | 38,059 | | | 38,309 | Commercial loans | | | | | | | SBA 504 | | | 49,947 | | | 48,479 | Commercial & industrial | | | 164,176 | | | 147,186 | Commercial real estate2 | | | 1,195,016 | | | 1,085,771 | Commercial real estate construction | | | 101,990 | | | 130,193 | Residential mortgage loans | | | 666,560 | | | 630,927 | Consumer loans | | | | | | | Home equity | | | 79,828 | | | 73,223 | Consumer other | | | 2,736 | | | 3,488 | Residential construction loans | | | 70,930 | | | 90,918 | Total loans held for investment | | $ | 2,369,242 | | $ | 2,248,494 | Loans held for sale1 | | | 13,352 | | | 12,163 | Total loans | | $ | 2,382,594 | | $ | 2,260,657 |
1Loans held for sale included SBA and residential mortgage loans of $7.8 million and $5.6 million as of June 30, 2025, respectively. Loans held for sale included SBA loans of $12.2 million as of December 31, 2024. 2Commercial real estate includes Commercial Mortgage – Owner Occupied, Commercial Mortgage – Nonowner Occupied and Commercial Mortgage – Other. Commercial Mortgage – Other primarily includes multifamily and land loans.
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| Aging Analysis of Past Due And Nonaccrual Loans by Loan Class |
| | | | | | | | | | | | | | | | | | | | | | | | June 30, 2025 | | | | | | | | | 90+ days | | | | | | | | | | | | | | | 30‑59 days | | 60‑89 days | | and still | | | | Total past | | | | | | | (In thousands) | | past due | | past due | | accruing | | Nonaccrual | | due | | Current | | Total loans | SBA loans held for investment | | $ | 6,209 | | $ | 31 | | $ | — | | $ | 4,177 | | $ | 10,417 | | $ | 27,642 | | $ | 38,059 | Commercial loans | | | | | | | | | | | | | | | | | | | | | | SBA 504 | | | — | | | — | | | — | | | — | | | — | | | 49,947 | | | 49,947 | Commercial & industrial | | | 131 | | | 194 | | | — | | | 1,243 | | | 1,568 | | | 162,608 | | | 164,176 | Commercial real estate | | | 1,809 | | | 2,232 | | | 2,876 | | | 2,269 | | | 9,186 | | | 1,185,830 | | | 1,195,016 | Commercial real estate construction | | | — | | | — | | | — | | | — | | | — | | | 101,990 | | | 101,990 | Residential mortgage loans | | | 10,165 | | | 5,133 | | | — | | | 7,980 | | | 23,278 | | | 643,282 | | | 666,560 | Consumer loans | | | | | | | | | | | | | | | | | | | | | | Home equity | | | 350 | | | 3,037 | | | — | | | — | | | 3,387 | | | 76,441 | | | 79,828 | Consumer other | | | 23 | | | 8 | | | — | | | — | | | 31 | | | 2,705 | | | 2,736 | Residential construction loans | | | — | | | — | | | — | | | 171 | | | 171 | | | 70,759 | | | 70,930 | Total loans held for investment | | | 18,687 | | | 10,635 | | | 2,876 | | | 15,840 | | | 48,038 | | | 2,321,204 | | | 2,369,242 | Loans held for sale | | | — | | | — | | | — | | | — | | | — | | | 13,352 | | | 13,352 | Total loans | | $ | 18,687 | | $ | 10,635 | | $ | 2,876 | | $ | 15,840 | | $ | 48,038 | | $ | 2,334,556 | | $ | 2,382,594 |
| | | | | | | | | | | | | | | | | | | | | | | | December 31, 2024 | | | | | | | | | 90+ days | | | | | | | | | | | | | | | 30‑59 days | | 60‑89 days | | and still | | | | Total past | | | | | | | (In thousands) | | past due | | past due | | accruing | | Nonaccrual | | due | | Current | | Total loans | SBA loans held for investment | | $ | 1,006 | | $ | 451 | | $ | — | | $ | 3,850 | | $ | 5,307 | | $ | 33,002 | | $ | 38,309 | Commercial loans | | | | | | | | | | | | | | | | | | | | | | SBA 504 | | | — | | | — | | | — | | | — | | | — | | | 48,479 | | | 48,479 | Commercial & industrial | | | 941 | | | — | | | — | | | 1,228 | | | 2,169 | | | 145,017 | | | 147,186 | Commercial real estate | | | 22,378 | | | 2,339 | | | — | | | 1,746 | | | 26,463 | | | 1,059,308 | | | 1,085,771 | Commercial real estate construction | | | — | | | — | | | — | | | — | | | — | | | 130,193 | | | 130,193 | Residential mortgage loans | | | 15,654 | | | 4,094 | | | 760 | | | 5,711 | | | 26,219 | | | 604,708 | | | 630,927 | Consumer loans | | | | | | | | | | | | | | | | | | | | | | Home equity | | | 479 | | | 2,162 | | | — | | | — | | | 2,641 | | | 70,582 | | | 73,223 | Consumer other | | | 36 | | | 5 | | | — | | | — | | | 41 | | | 3,447 | | | 3,488 | Residential construction loans | | | — | | | — | | | — | | | 547 | | | 547 | | | 90,371 | | | 90,918 | Total loans held for investment | | | 40,494 | | | 9,051 | | | 760 | | | 13,082 | | | 63,387 | | | 2,185,107 | | | 2,248,494 | Loans held for sale | | | — | | | — | | | — | | | — | | | — | | | 12,163 | | | 12,163 | Total loans | | $ | 40,494 | | $ | 9,051 | | $ | 760 | | $ | 13,082 | | $ | 63,387 | | $ | 2,197,270 | | $ | 2,260,657 |
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| Individually Evaluated Loans with Associated Allowance Amount |
| | | | | | | | | | | | June 30, 2025 | | | Unpaid | | | | | Allowance for | | | principal | | Recorded | | Credit Losses | (In thousands) | | balance | | investment | | Allocated | With no related allowance: | | | | | | | | | | SBA loans held for investment | | $ | 286 | | $ | 188 | | $ | — | Commercial loans | | | | | | | | | | Commercial & industrial | | | 638 | | | 33 | | | — | Commercial real estate | | | 4,850 | | | 4,236 | | | — | Total commercial loans | | | 5,488 | | | 4,269 | | | — | Residential mortgage loans | | | 6,668 | | | 6,668 | | | — | Total individually evaluated loans with no related allowance | | | 12,442 | | | 11,125 | | | — | | | | | | | | | | | With an allowance: | | | | | | | | | | SBA loans held for investment | | | 4,940 | | | 3,990 | | | 416 | Commercial loans | | | | | | | | | | Commercial & industrial | | | 1,510 | | | 1,210 | | | 150 | Commercial real estate | | | 912 | | | 909 | | | 1 | Total commercial loans | | | 2,422 | | | 2,119 | | | 151 | Residential mortgage loans | | | 1,437 | | | 1,312 | | | 168 | Residential construction loans | | | 171 | | | 171 | | | 44 | Total individually evaluated loans with a related allowance | | | 8,970 | | | 7,592 | | | 779 | | | | | | | | | | | Total individually evaluated loans: | | | | | | | | | | SBA loans held for investment | | | 5,226 | | | 4,178 | | | 416 | Commercial loans | | | | | | | | | | Commercial & industrial | | | 2,148 | | | 1,243 | | | 150 | Commercial real estate | | | 5,762 | | | 5,145 | | | 1 | Total commercial loans | | | 7,910 | | | 6,388 | | | 151 | Residential mortgage loans | | | 8,105 | | | 7,980 | | | 168 | Residential construction loans | | | 171 | | | 171 | | | 44 | Total individually evaluated loans | | $ | 21,412 | | $ | 18,717 | | $ | 779 |
| | | | | | | | | | | | December 31, 2024 | | | Unpaid | | | | | Allowance for | | | principal | | Recorded | | Credit Losses | (In thousands) | | balance | | investment | | Allocated | With no related allowance: | | | | | | | | | | SBA loans held for investment | | $ | 432 | | $ | 334 | | $ | — | Commercial loans | | | | | | | | | | Commercial & industrial | | | 638 | | | 33 | | | — | Commercial real estate | | | 2,055 | | | 1,746 | | | — | Total commercial loans | | | 2,693 | | | 1,779 | | | — | Residential mortgage loans | | | 4,238 | | | 4,238 | | | — | Total individually evaluated loans with no related allowance | | | 7,363 | | | 6,351 | | | — | | | | | | | | | | | With an allowance: | | | | | | | | | | SBA loans held for investment | | | 4,011 | | | 3,516 | | | 755 | Commercial loans | | | | | | | | | | Commercial & industrial | | | 1,672 | | | 1,195 | | | 62 | Total commercial loans | | | 1,672 | | | 1,195 | | | 62 | Residential mortgage loans | | | 2,413 | | | 2,233 | | | 52 | Residential construction loans | | | 547 | | | 547 | | | 102 | Total individually evaluated loans with a related allowance | | | 8,643 | | | 7,491 | | | 971 | | | | | | | | | | | Total individually evaluated loans: | | | | | | | | | | SBA loans held for investment | | | 4,443 | | | 3,850 | | | 755 | Commercial loans | | | | | | | | | | Commercial & industrial | | | 2,310 | | | 1,228 | | | 62 | Commercial real estate | | | 2,055 | | | 1,746 | | | — | Total commercial loans | | | 4,365 | | | 2,974 | | | 62 | Residential mortgage loans | | | 6,651 | | | 6,471 | | | 52 | Residential construction loans | | | 547 | | | 547 | | | 102 | Total individually evaluated loans | | $ | 16,006 | | $ | 13,842 | | $ | 971 |
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| Schedule of Loan Classification Risk by Loan Portfolio Classification by Origination Year |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans | | | | | | | | | Amortized Cost Basis by Origination Year, June 30, 2025 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | | 2025 | | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 and Earlier | | | Revolving Loans Amortized Cost Basis | | | Total | SBA loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 1,094 | | $ | 3,051 | | $ | 1,282 | | $ | 4,578 | | $ | 6,417 | | $ | 14,433 | | $ | - | | $ | 30,855 | Special Mention | | | - | | | - | | | 732 | | | 1,572 | | | 354 | | | 126 | | | - | | | 2,784 | Substandard | | | - | | | - | | | 368 | | | 1,599 | | | 2,116 | | | 337 | | | - | | | 4,420 | Total SBA loans held for investment | | $ | 1,094 | | $ | 3,051 | | $ | 2,382 | | $ | 7,749 | | $ | 8,887 | | $ | 14,896 | | $ | - | | $ | 38,059 | SBA loans held for investment | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | 455 | | $ | - | | $ | - | | $ | - | | $ | 455 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 156,458 | | $ | 201,932 | | $ | 144,153 | | $ | 330,429 | | $ | 151,458 | | $ | 410,059 | | $ | 99,005 | | $ | 1,493,494 | Special Mention | | | - | | | - | | | - | | | 1,531 | | | 914 | | | 2,948 | | | 140 | | | 5,533 | Substandard | | | - | | | 2,876 | | | - | | | 1,860 | | | 1,162 | | | 6,204 | | | - | | | 12,102 | Total commercial loans | | $ | 156,458 | | $ | 204,808 | | $ | 144,153 | | $ | 333,820 | | $ | 153,534 | | $ | 419,211 | | $ | 99,145 | | $ | 1,511,129 | Commercial loans | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | - | | $ | 1 | | $ | 101 | | $ | - | | $ | 102 | | | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Performing | | $ | 86,936 | | $ | 82,320 | | $ | 61,946 | | $ | 211,180 | | $ | 61,952 | | $ | 154,221 | | $ | - | | $ | 658,555 | Nonperforming | | | - | | | - | | | - | | | 2,897 | | | 1,224 | | | 3,884 | | | - | | | 8,005 | Total residential mortgage loans | | $ | 86,936 | | $ | 82,320 | | $ | 61,946 | | $ | 214,077 | | $ | 63,176 | | $ | 158,105 | | $ | - | | $ | 666,560 | Residential mortgage loans | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | 182 | | $ | 230 | | $ | - | | $ | - | | | 412 | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Performing | | $ | 8,966 | | $ | 5,120 | | $ | 1,488 | | $ | 2,834 | | $ | 1,021 | | $ | 8,489 | | $ | 54,646 | | $ | 82,564 | Total consumer loans | | $ | 8,966 | | $ | 5,120 | | $ | 1,488 | | $ | 2,834 | | $ | 1,021 | | $ | 8,489 | | $ | 54,646 | | $ | 82,564 | Consumer loans | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | 11 | | $ | 60 | | $ | - | | $ | - | | $ | 71 | | | | | | | | | | | | | | | | | | | | | | | | | | Residential construction | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 14,907 | | $ | 33,761 | | $ | 6,519 | | $ | 10,101 | | $ | 1,783 | | $ | 3,688 | | $ | - | | $ | 70,759 | Substandard | | | - | | | - | | | - | | | - | | | - | | | 171 | | | - | | | 171 | Total residential construction loans | | $ | 14,907 | | $ | 33,761 | | $ | 6,519 | | $ | 10,101 | | $ | 1,783 | | $ | 3,859 | | $ | - | | $ | 70,930 | Residential construction | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | | | | | | | | | | | | | | | | | | | | | | | | | Total loans held for investment | | $ | 268,361 | | $ | 329,060 | | $ | 216,488 | | $ | 568,581 | | $ | 228,401 | | $ | 604,560 | | $ | 153,791 | | $ | 2,369,242 |
| | | | | | | | | | | | | | | | | | | | | | | | | | | Term Loans | | | | | | | | | Amortized Cost Basis by Origination Year, December 31, 2024 | | | | | | | (In thousands) | | | 2024 | | | 2023 | | | 2022 | | | 2021 | | | 2020 | | | 2019 and Earlier | | | Revolving Loans Amortized Cost Basis | | | Total | SBA loans held for investment | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 2,167 | | $ | 1,580 | | $ | 5,205 | | $ | 6,411 | | $ | 5,570 | | $ | 10,085 | | $ | - | | $ | 31,018 | Special Mention | | | - | | | 769 | | | 1,740 | | | 356 | | | 508 | | | 729 | | | - | | | 4,102 | Substandard | | | - | | | - | | | 956 | | | 2,116 | | | 116 | | | 1 | | | - | | | 3,189 | Total SBA loans held for investment | | $ | 2,167 | | $ | 2,349 | | $ | 7,901 | | $ | 8,883 | | $ | 6,194 | | $ | 10,815 | | $ | - | | $ | 38,309 | SBA loans held for investment | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | 300 | | $ | 70 | | $ | - | | $ | - | | $ | - | | $ | 370 | | | | | | | | | | | | | | | | | | | | | | | | | | Commercial loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 189,371 | | $ | 167,190 | | $ | 331,349 | | $ | 161,508 | | $ | 123,225 | | $ | 330,131 | | $ | 94,369 | | $ | 1,397,143 | Special Mention | | | - | | | - | | | 6,269 | | | 1,737 | | | - | | | 3,108 | | | 17 | | | 11,131 | Substandard | | | - | | | - | | | - | | | 2 | | | 1,187 | | | 2,157 | | | 9 | | | 3,355 | Total commercial loans | | $ | 189,371 | | $ | 167,190 | | $ | 337,618 | | $ | 163,247 | | $ | 124,412 | | $ | 335,396 | | $ | 94,395 | | $ | 1,411,629 | Commercial loans | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | 38 | | $ | 138 | | $ | 200 | | $ | 107 | | $ | 150 | | $ | 633 | | | | | | | | | | | | | | | | | | | | | | | | | | Residential mortgage loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Performing | | $ | 93,825 | | $ | 73,862 | | $ | 224,295 | | $ | 65,192 | | $ | 44,366 | | $ | 122,916 | | $ | - | | $ | 624,456 | Nonperforming | | | - | | | 227 | | | 1,488 | | | 2,238 | | | - | | | 2,518 | | | - | | | 6,471 | Total residential mortgage loans | | $ | 93,825 | | $ | 74,089 | | $ | 225,783 | | $ | 67,430 | | $ | 44,366 | | $ | 125,434 | | $ | - | | $ | 630,927 | Residential mortgage loans | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | 150 | | $ | - | | $ | - | | $ | - | | $ | 150 | | | | | | | | | | | | | | | | | | | | | | | | | | Consumer loans | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Performing | | $ | 5,898 | | $ | 2,602 | | $ | 3,275 | | $ | 1,515 | | $ | 667 | | $ | 10,409 | | $ | 52,345 | | $ | 76,711 | Total consumer loans | | $ | 5,898 | | $ | 2,602 | | $ | 3,275 | | $ | 1,515 | | $ | 667 | | $ | 10,409 | | $ | 52,345 | | $ | 76,711 | Consumer loans | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | 63 | | $ | 100 | | $ | - | | $ | 198 | | $ | - | | $ | 361 | | | | | | | | | | | | | | | | | | | | | | | | | | Residential construction | | | | | | | | | | | | | | | | | | | | | | | | | Risk Rating: | | | | | | | | | | | | | | | | | | | | | | | | | Pass | | $ | 36,522 | | $ | 16,889 | | $ | 26,683 | | $ | 7,766 | | $ | 1,154 | | $ | 1,357 | | $ | - | | $ | 90,371 | Substandard | | | - | | | - | | | - | | | - | | | 547 | | | - | | | - | | | 547 | Total residential construction loans | | $ | 36,522 | | $ | 16,889 | | $ | 26,683 | | $ | 7,766 | | $ | 1,701 | | $ | 1,357 | | $ | - | | $ | 90,918 | Residential construction | | | | | | | | | | | | | | | | | | | | | | | | | Current-period gross writeoffs | | $ | - | | $ | - | | $ | - | | $ | - | | $ | - | | $ | 277 | | $ | - | | $ | 277 | | | | | | | | | | | | | | | | | | | | | | | | | | Total loans held for investment | | $ | 327,783 | | $ | 263,119 | | $ | 601,260 | | $ | 248,841 | | $ | 177,340 | | $ | 483,411 | | $ | 146,740 | | $ | 2,248,494 |
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| Schedule of Amortized Cost Basis of Loans Modified, Disaggregated by Class of Gross Loans and Type of Concession Granted |
| | | | | | | | | | | | | | | | | | | | | | Payment Delay | | | | Term Extension | | | | Interest Rate Reduction | | | | | Principal | | Percentage | | | | Principal | | Percentage | | | | Principal | | Percentage | | (In thousands) | | | Balance | | of Loan Class | | | | Balance | | of Loan Class | | | | Balance | | of Loan Class | | SBA loans held for investment | | $ | 187 | | 0.5 | % | | $ | 214 | | 0.6 | % | | $ | — | | — | % | Commercial loans | | | | | | | | | | | | | | | | | | | Commercial & industrial | | | — | | — | | | | — | | — | | | | — | | — | | Commercial real estate | | | 628 | | 0.1 | | | | — | | — | | | | 1,860 | | 0.2 | | Residential mortgage loans | | | 1,123 | | 0.2 | | | | — | | — | | | | — | | — | | Consumer loans | | | | | | | | | | | | | | | | | | | Home equity | | | — | | — | | | | 53 | | 0.1 | | | | — | | — | | Balance as of June 30, 2025 | | $ | 1,938 | | 0.1 | % | | $ | 267 | | 0.1 | % | | $ | 1,860 | | 0.1 | % |
| | | | | | | | | | | | | | | | | | | | | | Principal Forgiveness | | | | Payment Delay | | | | Term Extension | | | | | Principal | | Percentage | | | | Principal | | Percentage | | | | Principal | | Percentage | | (In thousands) | | | Balance | | of Loan Class | | | | Balance | | of Loan Class | | | | Balance | | of Loan Class | | SBA loans held for investment | | $ | 4 | | — | % | | $ | 99 | | 0.3 | % | | $ | — | | — | % | Commercial loans | | | | | | | | | | | | | | | | | | | Commercial & industrial | | | — | | — | | | | — | | — | | | | 2,074 | | 1.4 | | Commercial real estate | | | — | | — | | | | 2,619 | | 0.3 | | | | — | | — | | Residential mortgage loans | | | — | | — | | | | 1,036 | | 0.2 | | | | — | | — | | Consumer loans | | | | | | | | | | | | | | | | | | | Home equity | | | — | | — | | | | — | | — | | | | 2,309 | | 3.5 | | Balance as of June 30, 2024 | | $ | 4 | | — | % | | $ | 3,754 | | 0.2 | % | | $ | 4,383 | | 0.2 | % |
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