v3.25.4
Loans and Leases (Tables)
 12 Months Ended
Dec. 31, 2025
Financing Receivable, Allowance for Credit Loss, Writeoff, after Recovery [Abstract]  
Schedule of Loan Portfolio

As of December 31, 2025 and 2024, the composition of the loan portfolio by portfolio segment was as follows:

 

 

 

December 31, 2025

 

 

December 31, 2024

 

 

 

(Dollars in Thousands)

 

Real estate loans:

 

 

 

 

 

 

Construction, land development and other land loans

 

$

32,618

 

 

$

65,537

 

Secured by 1-4 family residential properties

 

 

66,996

 

 

 

69,999

 

Secured by multi-family residential properties

 

 

117,769

 

 

 

101,057

 

Secured by non-residential commercial real estate

 

 

200,699

 

 

 

227,751

 

Commercial and industrial loans (1)

 

 

48,360

 

 

 

44,238

 

Consumer loans:

 

 

 

 

 

 

Direct

 

 

4,844

 

 

 

4,774

 

Indirect

 

 

381,732

 

 

 

309,683

 

Total loans

 

 

853,018

 

 

 

823,039

 

 Allowance for credit losses on loans and leases

 

 

10,704

 

 

 

10,184

 

Net loans (2)

 

$

842,314

 

 

$

812,855

 

 

 

(1)
Includes equipment financing leases, totaling $12.6 million and $14.2 million as of December 31, 2025 and 2024, respectively.
(2)
Loans are presented net of unearned income and unamortized deferred fees and costs of $0.6 million and $0.8 million as of December 31, 2025 and 2024, respectively. Loans are also presented net of unamortized premiums associated with indirect loans of $15.6 million and $10.6 million as of December 31, 2025 and 2024, respectively.
Allowance for Credit Losses on Loans and Leases

The following tables present changes in the allowance for credit losses on loans and leases, as well as unfunded lending commitments, by portfolio segment, during the years ended December 31, 2025 and 2024:

 

 

 

As of and for the Year Ended December 31, 2025

 

 

 

Construction,
Land
Development,
and Other

 

 

Real Estate
1-4
Family

 

 

Real
Estate
Multi-
Family

 

 

Non-
Residential Commercial Real estate

 

 

Commercial and
Industrial

 

 

Direct
Consumer

 

 

Indirect
Consumer

 

 

Total

 

 

 

(Dollars in Thousands)

 

Allowance for credit losses on loans and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

352

 

 

$

406

 

 

$

546

 

 

$

1,428

 

 

$

1,531

 

 

$

49

 

 

$

5,872

 

 

$

10,184

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(2,215

)

 

 

(9

)

 

 

(1,892

)

 

 

(4,116

)

Recoveries

 

 

—

 

 

 

29

 

 

 

—

 

 

 

49

 

 

 

165

 

 

 

191

 

 

 

200

 

 

 

634

 

Provision for (recovery of) credit losses

 

 

(130

)

 

 

(64

)

 

 

120

 

 

 

(57

)

 

 

918

 

 

 

(181

)

 

 

3,396

 

 

 

4,002

 

Allowance for credit losses on loans and leases

 

$

222

 

 

$

371

 

 

$

666

 

 

$

1,420

 

 

$

399

 

 

$

50

 

 

$

7,576

 

 

$

10,704

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

280

 

 

$

1

 

 

$

43

 

 

$

16

 

 

$

34

 

 

$

2

 

 

$

—

 

 

$

376

 

Provision for (recovery of) credit losses on unfunded lending commitments

 

 

(26

)

 

 

—

 

 

 

3

 

 

 

48

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

29

 

Allowance for credit losses on unfunded lending commitments

 

$

254

 

 

$

1

 

 

$

46

 

 

$

64

 

 

$

38

 

 

$

2

 

 

$

—

 

 

$

405

 

 

 

 

As of and for the Year Ended December 31, 2024

 

 

 

Construction,
Land
Development,
and Other

 

 

Real Estate
1-4
Family

 

 

Real
Estate
Multi-
Family

 

 

Non-
Residential Commercial Real estate

 

 

Commercial and
Industrial

 

 

Direct
Consumer

 

 

Indirect
Consumer

 

 

Total

 

 

 

(Dollars in Thousands)

 

Allowance for credit losses on loans and leases:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

565

 

 

$

591

 

 

$

415

 

 

$

1,425

 

 

$

513

 

 

$

64

 

 

$

6,934

 

 

$

10,507

 

Charge-offs

 

 

—

 

 

 

(2

)

 

 

—

 

 

 

(248

)

 

 

(121

)

 

 

(62

)

 

 

(1,381

)

 

 

(1,814

)

Recoveries

 

 

20

 

 

 

56

 

 

 

—

 

 

 

—

 

 

 

2

 

 

 

300

 

 

 

298

 

 

 

676

 

Provision for (recovery of) credit losses

 

 

(233

)

 

 

(239

)

 

 

131

 

 

 

251

 

 

 

1,137

 

 

 

(253

)

 

 

21

 

 

 

815

 

Allowance for credit losses on loans and leases

 

$

352

 

 

$

406

 

 

$

546

 

 

$

1,428

 

 

$

1,531

 

 

$

49

 

 

$

5,872

 

 

$

10,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses on unfunded lending commitments:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance

 

$

450

 

 

$

1

 

 

$

9

 

 

$

2

 

 

$

102

 

 

$

5

 

 

$

-

 

 

$

569

 

Provision for (recovery of) credit losses on unfunded lending commitments

 

 

(170

)

 

 

—

 

 

 

34

 

 

 

14

 

 

 

(68

)

 

 

(3

)

 

 

—

 

 

 

(193

)

Allowance for credit losses on unfunded lending commitments

 

$

280

 

 

$

1

 

 

$

43

 

 

$

16

 

 

$

34

 

 

$

2

 

 

$

—

 

 

$

376

 
Loans By Credit Quality Indicators

The tables below illustrate the carrying amount of loans by credit quality indicator and year of origination as of December 31, 2025:

 

 

December 31, 2025

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Total

 

 

 

(Dollars in Thousands)

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

Pass

$

3,255

 

 

$

14,459

 

 

$

5,678

 

 

$

—

 

 

$

4

 

 

$

145

 

 

$

23,541

 

 

Special Mention

 

—

 

 

 

6,821

 

 

 

—

 

 

 

—

 

 

 

18

 

 

 

—

 

 

 

6,839

 

 

Substandard

 

—

 

 

 

—

 

 

 

2,238

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,238

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

3,255

 

 

$

21,280

 

 

$

7,916

 

 

$

—

 

 

$

22

 

 

$

145

 

 

$

32,618

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by multi-family residential properties

Pass

$

1,243

 

 

$

200

 

 

$

10,351

 

 

$

68,835

 

 

$

13,600

 

 

$

23,540

 

 

$

117,769

 

 

Special Mention

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Substandard

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

1,243

 

 

$

200

 

 

$

10,351

 

 

$

68,835

 

 

$

13,600

 

 

$

23,540

 

 

$

117,769

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by non-residential commercial real estate

Pass

$

4,495

 

 

$

24,887

 

 

$

16,179

 

 

$

21,485

 

 

$

34,071

 

 

$

95,071

 

 

$

196,188

 

 

Special Mention

 

—

 

 

 

—

 

 

 

536

 

 

 

2,839

 

 

 

—

 

 

 

324

 

 

 

3,699

 

 

Substandard

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

449

 

 

 

363

 

 

 

812

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

4,495

 

 

$

24,887

 

 

$

16,715

 

 

$

24,324

 

 

$

34,520

 

 

$

95,758

 

 

$

200,699

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans

Pass

$

14,634

 

 

$

13,960

 

 

$

4,396

 

 

$

2,403

 

 

$

3,510

 

 

$

9,310

 

 

$

48,213

 

 

Special Mention

 

—

 

 

 

—

 

 

 

—

 

 

 

17

 

 

 

36

 

 

 

—

 

 

 

53

 

 

Substandard

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

94

 

 

 

94

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

14,634

 

 

$

13,960

 

 

$

4,396

 

 

$

2,420

 

 

$

3,546

 

 

$

9,404

 

 

$

48,360

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

2,215

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

2,215

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial

Pass

$

23,627

 

 

$

53,506

 

 

$

36,604

 

 

$

92,723

 

 

$

51,185

 

 

$

128,066

 

 

$

385,711

 

 

Special Mention

 

—

 

 

 

6,821

 

 

 

536

 

 

 

2,856

 

 

 

54

 

 

 

324

 

 

 

10,591

 

 

Substandard

 

—

 

 

 

—

 

 

 

2,238

 

 

 

—

 

 

 

449

 

 

 

457

 

 

 

3,144

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

23,627

 

 

$

60,327

 

 

$

39,378

 

 

$

95,579

 

 

$

51,688

 

 

$

128,847

 

 

$

399,446

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

2,215

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

2,215

 

 

 

 

 

 

 

December 31, 2025

 

 

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

 

2025

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

Prior

 

 

Total

 

 

 

 

 

(Dollars in Thousands)

 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

Performing

 

$

6,018

 

 

$

4,584

 

 

$

2,654

 

 

$

17,339

 

 

$

13,902

 

 

$

21,941

 

 

$

66,438

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

558

 

 

 

558

 

 

 

Subtotal

 

$

6,018

 

 

$

4,584

 

 

$

2,654

 

 

$

17,339

 

 

$

13,902

 

 

$

22,499

 

 

$

66,996

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

Performing

 

$

2,902

 

 

$

1,073

 

 

$

426

 

 

$

142

 

 

$

173

 

 

$

128

 

 

$

4,844

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

2,902

 

 

$

1,073

 

 

$

426

 

 

$

142

 

 

$

173

 

 

$

128

 

 

$

4,844

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

4

 

 

$

—

 

 

$

5

 

 

$

—

 

 

$

—

 

 

$

9

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indirect

 

Performing

 

$

134,498

 

 

$

45,268

 

 

$

57,633

 

 

$

60,092

 

 

$

44,463

 

 

$

39,347

 

 

$

381,301

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

43

 

 

 

85

 

 

 

303

 

 

 

431

 

 

 

Subtotal

 

$

134,498

 

 

$

45,268

 

 

$

57,633

 

 

$

60,135

 

 

$

44,548

 

 

$

39,650

 

 

$

381,732

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

20

 

 

$

151

 

 

$

278

 

 

$

512

 

 

$

353

 

 

$

578

 

 

$

1,892

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Total consumer

 

Performing

 

$

143,418

 

 

$

50,925

 

 

$

60,713

 

 

$

77,573

 

 

$

58,538

 

 

$

61,416

 

 

$

452,583

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

43

 

 

 

85

 

 

 

861

 

 

 

989

 

 

 

 

 

$

143,418

 

 

$

50,925

 

 

$

60,713

 

 

$

77,616

 

 

$

58,623

 

 

$

62,277

 

 

$

453,572

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

20

 

 

$

155

 

 

$

278

 

 

$

517

 

 

$

353

 

 

$

578

 

 

$

1,901

 

 

 

 

 

 

 

 

 

 

The tables below illustrate the carrying amount of loans by credit quality indicator and year of origination as of December 31, 2024:

 

 

December 31, 2024

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Total

 

 

 

(Dollars in Thousands)

 

Commercial:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

Pass

$

852

 

 

$

4,626

 

 

$

45,087

 

 

$

11,931

 

 

$

41

 

 

$

450

 

 

$

62,987

 

 

Special Mention

 

—

 

 

 

—

 

 

 

—

 

 

 

61

 

 

 

—

 

 

 

—

 

 

 

61

 

 

Substandard

 

—

 

 

 

2,489

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,489

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

852

 

 

$

7,115

 

 

$

45,087

 

 

$

11,992

 

 

$

41

 

 

$

450

 

 

$

65,537

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by multi-family residential properties

Pass

$

7,941

 

 

$

8,218

 

 

$

42,077

 

 

$

17,557

 

 

$

5,592

 

 

$

19,672

 

 

$

101,057

 

 

Special Mention

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Substandard

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

7,941

 

 

$

8,218

 

 

$

42,077

 

 

$

17,557

 

 

$

5,592

 

 

$

19,672

 

 

$

101,057

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by non-residential commercial real estate

Pass

$

25,251

 

 

$

24,906

 

 

$

34,930

 

 

$

36,793

 

 

$

54,527

 

 

$

49,681

 

 

$

226,088

 

 

Special Mention

 

—

 

 

 

—

 

 

 

316

 

 

 

—

 

 

 

334

 

 

 

—

 

 

 

650

 

 

Substandard

 

—

 

 

 

—

 

 

 

—

 

 

 

483

 

 

 

147

 

 

 

383

 

 

 

1,013

 

 

Doubtful

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

25,251

 

 

$

24,906

 

 

$

35,246

 

 

$

37,276

 

 

$

55,008

 

 

$

50,064

 

 

$

227,751

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

248

 

 

$

248

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial and industrial loans

Pass

$

13,458

 

 

$

5,562

 

 

$

3,499

 

 

$

5,189

 

 

$

2,888

 

 

$

9,963

 

 

$

40,559

 

 

Special Mention

 

—

 

 

 

—

 

 

 

30

 

 

 

60

 

 

 

—

 

 

 

—

 

 

 

90

 

 

Substandard

 

—

 

 

 

—

 

 

 

—

 

 

 

2

 

 

 

—

 

 

 

303

 

 

 

305

 

 

Doubtful

 

—

 

 

 

3,284

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,284

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

Subtotal

$

13,458

 

 

$

8,846

 

 

$

3,529

 

 

$

5,251

 

 

$

2,888

 

 

$

10,266

 

 

$

44,238

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

54

 

 

$

—

 

 

$

43

 

 

$

24

 

 

$

121

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total commercial

Pass

$

47,502

 

 

$

43,312

 

 

$

125,593

 

 

$

71,470

 

 

$

63,048

 

 

$

79,766

 

 

$

430,691

 

 

Special Mention

 

—

 

 

 

—

 

 

 

346

 

 

 

121

 

 

 

334

 

 

 

—

 

 

 

801

 

 

Substandard

 

—

 

 

 

2,489

 

 

 

—

 

 

 

485

 

 

 

147

 

 

 

686

 

 

 

3,807

 

 

Doubtful

 

—

 

 

 

3,284

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

3,284

 

 

Loss

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

47,502

 

 

$

49,085

 

 

$

125,939

 

 

$

72,076

 

 

$

63,529

 

 

$

80,452

 

 

$

438,583

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

$

—

 

 

$

—

 

 

$

54

 

 

$

—

 

 

$

43

 

 

$

272

 

 

$

369

 

 

 

 

 

 

 

December 31, 2024

 

 

 

 

 

Loans at Amortized Cost Basis by Origination Year

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Total

 

 

 

 

 

(Dollars in Thousands)

 

Consumer:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Secured by 1-4 family residential properties

 

Performing

 

$

4,559

 

 

$

3,525

 

 

$

18,060

 

 

$

14,746

 

 

$

5,884

 

 

$

21,612

 

 

$

68,386

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,613

 

 

 

1,613

 

 

 

Subtotal

 

$

4,559

 

 

$

3,525

 

 

$

18,060

 

 

$

14,746

 

 

$

5,884

 

 

$

23,225

 

 

$

69,999

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

2

 

 

$

2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

Performing

 

$

2,397

 

 

$

1,077

 

 

$

430

 

 

$

487

 

 

$

283

 

 

$

100

 

 

$

4,774

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

2,397

 

 

$

1,077

 

 

$

430

 

 

$

487

 

 

$

283

 

 

$

100

 

 

$

4,774

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

—

 

 

$

—

 

 

$

1

 

 

$

42

 

 

$

3

 

 

$

16

 

 

$

62

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Indirect

 

Performing

 

$

54,546

 

 

$

72,461

 

 

$

74,514

 

 

$

55,904

 

 

$

41,908

 

 

$

10,350

 

 

$

309,683

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

Subtotal

 

$

54,546

 

 

$

72,461

 

 

$

74,514

 

 

$

55,904

 

 

$

41,908

 

 

$

10,350

 

 

$

309,683

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

21

 

 

$

95

 

 

$

278

 

 

$

531

 

 

$

329

 

 

$

127

 

 

$

1,381

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 Total consumer:

 

Performing

 

$

61,502

 

 

$

77,063

 

 

$

93,004

 

 

$

71,137

 

 

$

48,075

 

 

$

32,062

 

 

$

382,843

 

 

 

Non-performing

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

1,613

 

 

 

1,613

 

 

 

 

 

$

61,502

 

 

$

77,063

 

 

$

93,004

 

 

$

71,137

 

 

$

48,075

 

 

$

33,675

 

 

$

384,456

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current period gross charge-offs

 

$

21

 

 

$

95

 

 

$

279

 

 

$

573

 

 

$

332

 

 

$

145

 

 

$

1,445

 

 
Aging Analysis of Past Due Loans

The following table provides an aging analysis of past due loans by portfolio segment as of December 31, 2025:

 

 

 

As of December 31, 2025

 

 

 

30-59
Days
Past
Due

 

 

60-89
Days
Past
Due

 

 

90
Days
Or
Greater

 

 

Total
Past
Due

 

 

Current

 

 

Total
Loans

 

 

Recorded
Investment >
90 Days
And
Accruing

 

 

 

(Dollars in Thousands)

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development
   and other land loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

32,618

 

 

$

32,618

 

 

$

—

 

Secured by 1-4 family residential
   properties

 

 

41

 

 

 

—

 

 

 

374

 

 

 

415

 

 

 

66,581

 

 

 

66,996

 

 

 

—

 

Secured by multi-family residential
   properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

117,769

 

 

 

117,769

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

—

 

 

 

—

 

 

 

363

 

 

 

363

 

 

 

200,336

 

 

 

200,699

 

 

 

—

 

Commercial and industrial loans

 

 

44

 

 

 

—

 

 

 

—

 

 

 

44

 

 

 

48,316

 

 

 

48,360

 

 

 

—

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

 

—

 

 

 

2

 

 

 

—

 

 

 

2

 

 

 

4,842

 

 

 

4,844

 

 

 

—

 

Indirect

 

 

1,244

 

 

 

294

 

 

 

412

 

 

 

1,950

 

 

 

379,782

 

 

 

381,732

 

 

 

—

 

Total

 

$

1,329

 

 

$

296

 

 

$

1,149

 

 

$

2,774

 

 

$

850,244

 

 

$

853,018

 

 

$

—

 

As a percentage of total loans

 

 

0.16

%

 

 

0.03

%

 

 

0.14

%

 

 

0.33

%

 

 

99.67

%

 

 

100.00

%

 

 

 

 

The following table provides an aging analysis of past due loans by portfolio segment as of December 31, 2024:

 

 

 

As of December 31, 2024

 

 

 

30-59
Days
Past
Due

 

 

60-89
Days
Past
Due

 

 

90
Days
Or
Greater

 

 

Total
Past
Due

 

 

Current

 

 

Total
Loans

 

 

Recorded
Investment >
90 Days
And
Accruing

 

 

 

(Dollars in Thousands)

 

Loans secured by real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Construction, land development
   and other land loans

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

65,537

 

 

$

65,537

 

 

$

—

 

Secured by 1-4 family residential
   properties

 

 

515

 

 

 

—

 

 

 

—

 

 

 

515

 

 

 

69,484

 

 

 

69,999

 

 

 

—

 

Secured by multi-family residential
   properties

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

101,057

 

 

 

101,057

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

227,751

 

 

 

227,751

 

 

 

—

 

Commercial and industrial loans

 

 

3,317

 

 

 

—

 

 

 

—

 

 

 

3,317

 

 

 

40,921

 

 

 

44,238

 

 

 

—

 

Consumer loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Direct

 

 

15

 

 

 

—

 

 

 

—

 

 

 

15

 

 

 

4,759

 

 

 

4,774

 

 

 

—

 

Indirect

 

 

489

 

 

 

47

 

 

 

—

 

 

 

536

 

 

 

309,147

 

 

 

309,683

 

 

 

—

 

Total

 

$

4,336

 

 

$

47

 

 

$

—

 

 

$

4,383

 

 

$

818,656

 

 

$

823,039

 

 

$

—

 

As a percentage of total loans

 

 

0.52

%

 

 

0.01

%

 

 

0.00

%

 

 

0.53

%

 

 

99.47

%

 

 

100.00

%

 

 

 

 
Non-accruing Loans

The tables below present the amortized cost of loans on nonaccrual status and loans past due 90 days or more and still accruing interest as of December 31, 2025 and 2024. Also presented is the balance of loans on nonaccrual status as of December 31, 2025 and 2024 for which there was no related ACL recorded.

 

 

 

Loans on Non-Accrual Status

 

 

 

December 31, 2025

 

 

 

(Dollars in Thousands)

 

 

 

Total nonaccrual
loans

 

Nonaccrual loans with no allowance for credit losses

 

Loans past due 90 days or more and still accruing

 

Loans secured by real estate:

 

 

 

 

 

 

 

Construction, land development and other land loans

 

$

—

 

$

—

 

$

—

 

Secured by 1-4 family residential properties

 

 

558

 

 

370

 

 

—

 

Secured by multi-family residential properties

 

 

—

 

 

—

 

 

—

 

Secured by non-residential commercial real estate

 

 

363

 

 

—

 

 

—

 

Commercial and industrial loans

 

 

—

 

 

—

 

 

—

 

Consumer loans:

 

 

 

 

 

 

 

Direct

 

 

21

 

 

—

 

 

—

 

Indirect

 

 

431

 

 

—

 

 

—

 

Total loans

 

$

1,373

 

$

370

 

$

—

 

 

 

 

Loans on Non-Accrual Status

 

 

 

December 31, 2024

 

 

 

(Dollars in Thousands)

 

 

 

Total nonaccrual
loans

 

Nonaccrual loans with no allowance for credit losses

 

Loans past due 90 days or more and still accruing

 

Loans secured by real estate:

 

 

 

 

 

 

 

Construction, land development and other land loans

 

$

—

 

$

—

 

$

—

 

Secured by 1-4 family residential properties

 

 

665

 

 

404

 

 

—

 

Secured by multi-family residential properties

 

 

—

 

 

—

 

 

—

 

Secured by non-residential commercial real estate

 

 

—

 

 

—

 

 

—

 

Commercial and industrial loans

 

 

3,284

 

 

—

 

 

—

 

Consumer loans:

 

 

 

 

 

 

 

Direct

 

 

—

 

 

—

 

 

—

 

Indirect

 

 

—

 

 

—

 

 

—

 

Total loans

 

$

3,949

 

$

404

 

$

—

 

 
Schedule of Amortized Cost Basis of Collateral Dependent Loans

The following tables present the amortized cost basis of collateral dependent loans as of December 31, 2025 and 2024, which loans are individually evaluated to determine credit losses:

 

 

 

December 31, 2025

 

 

 

Real Estate

 

 

Other

 

 

Total

 

 

 

(Dollars in Thousands)

 

Loans secured by real estate

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

 

$

2,238

 

 

$

—

 

 

$

2,238

 

Secured by 1-4 family residential properties

 

 

385

 

 

 

—

 

 

 

385

 

Secured by multi-family residential properties

 

 

—

 

 

 

—

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

363

 

 

 

—

 

 

 

363

 

Commercial and industrial

 

 

—

 

 

 

38

 

 

 

38

 

Direct consumer

 

 

—

 

 

 

—

 

 

 

—

 

Total loans individually evaluated

 

$

2,986

 

 

$

38

 

 

$

3,024

 

 

 

 

December 31, 2024

 

 

 

Real Estate

 

 

Other

 

 

Total

 

 

 

(Dollars in Thousands)

 

Loans secured by real estate

 

 

 

 

 

 

 

 

 

Construction, land development and other land loans

 

$

2,489

 

 

$

—

 

 

$

2,489

 

Secured by 1-4 family residential properties

 

 

1,402

 

 

 

—

 

 

 

1,402

 

Secured by multi-family residential properties

 

 

—

 

 

 

—

 

 

 

—

 

Secured by non-residential commercial real estate

 

 

383

 

 

 

—

 

 

 

383

 

Commercial and industrial

 

 

—

 

 

 

3,327

 

 

 

3,327

 

Direct consumer

 

 

—

 

 

 

—

 

 

 

—

 

Total loans individually evaluated

 

$

4,274

 

 

$

3,327

 

 

$

7,601