v3.25.4
Note 4 - Loans Receivable
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Financing Receivables [Text Block]

Note 4. Loans Receivable

 

Loans receivable were comprised of the following:

 

(Dollars in thousands)

 

December 31, 2024

  

December 31, 2023

 

Residential Real Estate:

        

Single family

 $204,357  $203,417 

Multifamily

  234,884   271,040 

Farmland

  240   145 

Commercial Real Estate:

        

Owner-occupied

  357,724   282,052 

Non-owner occupied

  560,056   461,775 

Construction and Land Development

  393,385   429,637 

Commercial – Non Real-Estate:

        

Commercial & industrial

  82,778   75,415 

Consumer – Non Real Estate:

        

Unsecured

  343   271 

Secured

  1,231   3,339 

Total Gross Loans

  1,834,998   1,727,091 

Less: unearned fees

  (4,992)  (5,448)

Less: allowance for credit losses on loans

  (19,450)  (16,506)

Net Loans

 $1,810,556  $1,705,137 

 

The unsecured consumer loans above include $343,000 and $271,000 of overdrafts reclassified as loans as of  December 31, 2024 and December 31, 2023, respectively.

 

There were nonaccrual loans of $21.7 million and $1.0 million as of December 31, 2024 and December 31, 2023, respectively.

 

The following tables present the segments of the loan portfolio summarized by aging categories as of December 31, 2024 and December 31, 2023:

 

  

December 31, 2024

 

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater than 90 Days Past Due and Still Accruing

  

Nonaccrual

  

Current Loans

  

Total Loans Receivable

 

Residential Real Estate:

                        

Single Family

 $  $62  $  $1,162  $203,133  $204,357 

Multifamily

              234,884   234,884 

Farmland

              240   240 

Commercial Real Estate:

                        

Owner occupied

              357,724   357,724 

Non-owner occupied

           11,160   548,896   560,056 

Construction & Land Development

           4,235   389,150   393,385 

Commercial – Non Real Estate:

                        

Commercial & industrial

           5,093   77,685   82,778 

Consumer – Non Real Estate:

                        

Unsecured

              343   343 

Secured

              1,231   1,231 

Total

 $  $62  $  $21,650  $1,813,286  $1,834,998 

 

  

December 31, 2023

 

(Dollars in thousands)

 

30-59 Days Past Due

  

60-89 Days Past Due

  

Greater than 90 Days Past Due and Still Accruing

  

Nonaccrual

  

Current Loans

  

Total Loans Receivable

 

Residential Real Estate:

                        

Single Family

 $  $  $  $149  $203,268  $203,417 

Multifamily

              271,040   271,040 

Farmland

              145   145 

Commercial Real Estate:

                        

Owner occupied

              282,052   282,052 

Non-owner occupied

              461,775   461,775 

Construction & Land Development

              429,637   429,637 

Commercial – Non Real Estate:

                        

Commercial & industrial

           851   74,564   75,415 

Consumer – Non Real Estate:

                        

Unsecured

              271   271 

Secured

  25      4      3,310   3,339 

Total

 $25  $  $4  $1,000  $1,726,062  $1,727,091