v3.26.1
Allowance for Credit Losses on Loans and Off-Balance Sheet Credit Exposures (Tables)
 6 Months Ended
Jun. 30, 2026
Credit Loss [Abstract]  
Schedule of Allowance For Loan Losses, By Class
Changes in the ACL on loans, by loan segment, for the three and six months ended June 30, 2026 and 2025 were as follows:
For The Three Months Ended June 30, 2026Balance,
March 31, 2026		Charge-OffsRecoveriesCredit Loss Expense (Benefit)Balance,
June 30, 2026
(Dollars in thousands)
Non-revolving residential real estate$2,753 $— $4 $67 $2,824 
Revolving residential real estate256 — — 22 278 
Residential real estate3,009 — 4 89 3,102 
Commercial construction real estate585 — — 35 620 
Residential construction real estate122 — — (1)121 
Construction real estate707 — — 34 741 
Non-residential commercial real estate3,759 — — 252 4,011 
Multi-family residential real estate261 — — (4)257 
Commercial real estate4,020 — — 248 4,268 
Commercial241 — — 3 244 
Consumer3 — — (1)2 
Municipal91 — — (58)33 
Total$8,071 $— $4 $315 $8,390 
For The Six Months Ended June 30, 2026Balance,
December 31, 2025		Charge-OffsRecoveriesCredit Loss Expense (Benefit)Balance,
June 30, 2026
(Dollars in thousands)
Non-revolving residential real estate$2,913 $— $7 $(96)$2,824 
Revolving residential real estate263 — — 15 278 
Residential real estate3,176 — 7 (81)3,102 
Commercial construction real estate654 — — (34)620 
Residential construction real estate186 — — (65)121 
Construction real estate840 — — (99)741 
Non-residential commercial real estate3,755 — — 256 4,011 
Multi-family residential real estate239 — — 18 257 
Commercial real estate3,994 — — 274 4,268 
Commercial292 — 1 (49)244 
Consumer5 — — (3)2 
Municipal100 — — (67)33 
Total$8,407 $— $8 $(25)$8,390 
For The Three Months Ended June 30, 2025Balance,
March 31, 2025		Charge-OffsRecoveriesCredit Loss Expense (Benefit)Balance,
June 30, 2025
(Dollars in thousands)
Non-revolving residential real estate$2,866 $— $4 $35 $2,905 
Revolving residential real estate200 — — 30 230 
Residential real estate3,066 — 4 65 3,135 
Commercial construction real estate822 — — 197 1,019 
Residential construction real estate196 — — 23 219 
Construction real estate1,018 — — 220 1,238 
Non-residential commercial real estate3,255 — — (55)3,200 
Multi-family residential real estate258 — — — 258 
Commercial real estate3,513 — — (55)3,458 
Commercial427 — — 12 439 
Consumer7 — 1 (2)6 
Municipal79 — — (48)31 
Total$8,110 $— $5 $192 $8,307 
For The Six Months Ended June 30, 2025Balance,
December 31, 2024		Charge-OffsRecoveriesCredit Loss Expense (Benefit)Balance,
June 30, 2025
(Dollars in thousands)
Non-revolving residential real estate$3,212 $— $9 $(316)$2,905 
Revolving residential real estate280 — — (50)230 
Residential real estate3,492 — 9 (366)3,135 
Commercial construction real estate651 — — 368 1,019 
Residential construction real estate102 — — 117 219 
Construction real estate753 — — 485 1,238 
Non-residential commercial real estate2,766 — — 434 3,200 
Multi-family residential real estate212 — — 46 258 
Commercial real estate2,978 — — 480 3,458 
Commercial377 — — 62 439 
Consumer6 (4)1 3 6 
Municipal74 — — (43)31 
Total$7,680 $(4)$10 $621 $8,307 
Schedule of Fair Value, off-Balance-Sheet Risks The activity in the ACL on off-balance sheet credit exposures for the three and six months ended June 30, 2026 and 2025 was as follows:
For The Three Months Ended June 30,For the Six Months Ended June 30,
2026202520262025
ACL on Off-Balance Sheet Credit Exposures(Dollars in thousands)
Balance at beginning of period$1,105 $877 $1,090 $1,071 
Credit loss (benefit) expense (140)29 (125)(165)
Balance at end of period$965 $906 $965 $906 
Schedule of Financing Receivable Credit Quality Indicators
The following table summarizes the Company's loans by year of origination and by loan ratings applied by management to the Company's loans by segment as well as gross charge-offs by year of origination and loan segment as of and for the period ended June 30, 2026:

June 30, 202620262025202420232022PriorRevolvingTotal
(Dollars in thousands)
Non-revolving residential real estate
Pass$40,368 $50,664 $57,136 $47,069 $85,136 $137,032 $— $417,405 
Satisfactory/Monitor3,225 4,961 5,701 3,890 8,912 10,868 — 37,557 
Substandard— — — — 861 109 — 970 
Total non-revolving residential real estate43,593 55,625 62,837 50,959 94,909 148,009 — 455,932 
Gross charge-offs for the six months ended
— — — — — — — — 
Revolving residential real estate
Pass— — — — — — 29,706 29,706 
Satisfactory/Monitor— — — — — — 1,944 1,944 
Substandard— — — — — — — — 
Total revolving residential real estate— — — — — — 31,650 31,650 
Gross charge-offs for the six months ended
— — — — — — — — 
Commercial construction real estate
Pass2,517 4,621 5,247 911 1,288 1,578 — 16,162 
Satisfactory/Monitor15,637 7,822 5,440 946 — 769 — 30,614 
Substandard— — — — — — — — 
Total commercial construction real estate18,154 12,443 10,687 1,857 1,288 2,347 — 46,776 
Gross charge-offs for the six months ended
— — — — — — — — 
Residential construction real estate
Pass8,122 29,024 7,335 533 347 — — 45,361 
Satisfactory/Monitor42 3,160 359 — — 3,368 — 6,929 
Substandard— — — — — — — — 
Total residential construction real estate8,164 32,184 7,694 533 347 3,368 — 52,290 
Gross charge-offs for the six months ended
— — — — — — — — 
June 30, 202620262025202420232022PriorRevolvingTotal
(Dollars in thousands)
Non-residential commercial real estate
Pass7,633 5,310 4,860 12,963 50,074 91,458 4,728 177,026 
Satisfactory/Monitor4,555 10,837 87,883 12,322 12,036 29,196 15,655 172,484 
Substandard— — — 12,513 — 3,859 309 16,681 
Total non-residential commercial real estate12,188 16,147 92,743 37,798 62,110 124,513 20,692 366,191 
Gross charge-offs for the six months ended
— — — — — — — — 
Multi-family residential real estate
Pass5,023 836 1,325 34 3,944 44,817 — 55,979 
Satisfactory/Monitor— 1,943 1,884 5,598 12,448 20,969 — 42,842 
Substandard— — — — — 224 — 224 
Total multi-family residential real estate5,023 2,779 3,209 5,632 16,392 66,010 — 99,045 
Gross charge-offs for the six months ended
— — — — — — — — 
Commercial
Pass1,497 2,035 2,589 1,721 1,439 5,089 4,733 19,103 
Satisfactory/Monitor541 829 816 1,460 1,896 4,885 778 11,205 
Substandard— — — — — 185 — 185 
Total commercial2,038 2,864 3,405 3,181 3,335 10,159 5,511 30,493 
Gross charge-offs for the six months ended
— — — — — — — — 
Consumer
Pass773 538 514 323 29 181 22 2,380 
Satisfactory/Monitor— — — — — — — — 
Substandard— — — — — — 
Total consumer773 538 514 323 29 181 22 2,380 
Gross charge-offs for the six months ended
— — — — — — — — 
Municipal
Pass4,607 6,141 7,514 8,934 239 3,101 — 30,536 
Satisfactory/Monitor1,528 8 — — — — — 1,536 
Substandard— — — — — — — — 
Total municipal6,135 6,149 7,514 8,934 239 3,101 — 32,072 
Gross charge-offs for the six months ended
— — — — — — — — 
Total Loans$96,068 $128,729 $188,603 $109,217 $178,649 $357,688 $57,875 $1,116,829 
Gross charge-offs for the six months ended
$— $— $— $— $— $— $— $— 
The following table summarizes the Company's loans by year of origination and by loan ratings applied by management to the Company's loans by segment as well as gross charge-offs by year of origination and loan segment as of and for the year ended December 31, 2025:
December 31, 202520252024202320222021PriorRevolvingTotal
(Dollars in thousands)
Non-revolving residential real estate
Pass$52,182 $67,718 $53,671 $90,305 $71,858 $69,511 $— $405,245 
Satisfactory/Monitor5,955 6,865 5,160 9,346 5,114 6,648 — 39,088 
Substandard— — — 629 — 237 — 866 
Total non-revolving residential real estate58,137 74,583 58,831 100,280 76,972 76,396 — 445,199 
Gross charge-offs for the year ended— — — — — — — — 
Revolving residential real estate
Pass— — — — — — 27,284 27,284 
Satisfactory/Monitor— — — — — — 1,771 1,771 
Substandard— — — — — — 20 20 
Total revolving residential real estate— — — — — — 29,075 29,075 
Gross charge-offs for the year ended— — — — — — — — 
Commercial construction real estate
Pass5,464 6,170 1,265 1,493 1,108 887 — 16,387 
Satisfactory/Monitor3,999 29,181 959 — 739 79 — 34,957 
Substandard— — — — — 3 — 3 
Total commercial construction real estate9,463 35,351 2,224 1,493 1,847 969 — 51,347 
Gross charge-offs for the year ended— — — — — — — — 
Residential construction real estate
Pass32,317 11,714 989 783 — — — 45,803 
Satisfactory/Monitor1,714 1,591 — — 3,357 13 — 6,675 
Substandard— — — — — — — — 
Total residential construction real estate34,031 13,305 989 783 3,357 13 — 52,478 
Gross charge-offs for the year ended— — — — — — — — 
Non-residential commercial real estate
Pass8,114 4,897 10,954 51,325 27,871 63,526 4,729 171,416 
Satisfactory/Monitor10,839 60,589 14,690 12,398 15,742 27,512 17,049 158,819 
Substandard— — 12,933 — — 2,732 — 15,665 
Total non-residential commercial real estate18,953 65,486 38,577 63,723 43,613 93,770 21,778 345,900 
Gross charge-offs for the year ended— — — — — — — — 
Multi-family residential real estate
Pass846 449 39 4,025 4,709 44,467 — 54,535 
Satisfactory/Monitor2,202 1,763 5,665 12,857 14,801 7,208 — 44,496 
Substandard— — — — — 238 — 238 
Total multi-family residential real estate3,048 2,212 5,704 16,882 19,510 51,913 — 99,269 
Gross charge-offs for the year ended— — — — — — — — 
Commercial
Pass2,104 2,115 2,015 1,653 990 4,539 4,879 18,295 
Satisfactory/Monitor885 2,153 1,554 2,093 1,670 3,771 538 12,664 
Substandard— — — — — 200 — 200 
Total commercial2,989 4,268 3,569 3,746 2,660 8,510 5,417 31,159 
Gross charge-offs for the year ended41 — — — — — — 41 
December 31, 202520252024202320222021PriorRevolvingTotal
(Dollars in thousands)
Consumer
Pass1,152 564 434 40 8 192 24 2,414 
Satisfactory/Monitor— — — — — — — — 
Substandard— — — — — — — — 
Total consumer1,152 564 434 40 8 192 24 2,414 
Gross charge-offs for the year ended— 1 4 1 — — — 6 
Municipal
Pass94,572 8,416 9,277 384 311 3,397 — 116,357 
Satisfactory/Monitor1,536 — — — — — — 1,536 
Substandard— — — — — — — — 
Total municipal96,108 8,416 9,277 384 311 3,397 — 117,893 
Gross charge-offs for the year ended— — — — — — — — 
Total Loans$223,881 $204,185 $119,605 $187,331 $148,278 $235,160 $56,294 $1,174,734 
Gross charge-offs for the year ended$41 $1 $4 $1 $— $— $— $47 
Schedule of Financing Receivable, Nonaccrual
A summary of current and past due loans as of June 30, 2026 and December 31, 2025 follows:
June 30, 202630-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(Dollars in thousands)
Residential real estate
Non-revolving residential real estate$109 $540 $815 $1,464 $454,468 $455,932 
Revolving residential real estate100 — — 100 31,550 31,650 
Construction real estate
Commercial construction real estate— — — — 46,776 46,776 
Residential construction real estate— — — — 52,290 52,290 
Commercial real estate
Non-residential commercial real estate4,478 309 — 4,787 361,404 366,191 
Multi-family residential real estate224 — — 224 98,821 99,045 
Commercial192 9 — 201 30,292 30,493 
Consumer— — — — 2,380 2,380 
Municipal— — — — 32,072 32,072 
Total$5,103 $858 $815 $6,776 $1,110,053 $1,116,829 
December 31, 202530-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(Dollars in thousands)
Residential real estate
Non-revolving residential real estate$2,984 $479 $867 $4,330 $440,869 $445,199 
Revolving residential real estate10 — — 10 29,065 29,075 
Construction real estate
Commercial construction real estate74 — 3 77 51,270 51,347 
Residential construction real estate— — — — 52,478 52,478 
Commercial real estate
Non-residential commercial real estate233 — — 233 345,667 345,900 
Multi-family residential real estate— — — — 99,269 99,269 
Commercial— — — — 31,159 31,159 
Consumer— — — — 2,414 2,414 
Municipal— — — — 117,893 117,893 
Total$3,301 $479 $870 $4,650 $1,170,084 $1,174,734 
A summary of nonaccrual loans as of June 30, 2026 and December 31, 2025 follows:
June 30, 2026NonaccrualNonaccrual With No Allowance for Credit Losses90 Days and Over and Accruing
Residential real estate(Dollars in thousands)
Non-revolving residential real estate$721 $611 $203 
Commercial real estate
Non-residential commercial real estate14,026 — — 
Multi-family residential real estate224 — — 
Total$14,971 $611 $203 

December 31, 2025NonaccrualNonaccrual With No Allowance for Credit Losses90 Days and Over and Accruing
Residential real estate(Dollars in thousands)
Non-revolving residential real estate$629 $629 $238 
Construction real estate
Commercial construction real estate— — 3 
Commercial real estate
Non-residential commercial real estate12,933 — — 
Total$13,562 $629 $241 
Schedule of Composition of Net Loans
The composition of Net loans as of the balance sheet dates, by regulatory call report code segmentation based on underlying collateral or purpose for certain loan types, was as follows:
June 30,
2026		December 31,
2025
Residential real estate(Dollars in thousands)
Non-revolving residential real estate$455,932 $445,199 
Revolving residential real estate31,650 29,075 
Construction real estate
Commercial construction real estate46,776 51,347 
Residential construction real estate52,290 52,478 
Commercial real estate
Non-residential commercial real estate366,191 345,900 
Multi-family residential real estate99,045 99,269 
Commercial30,493 31,159 
Consumer2,380 2,414 
Municipal32,072 117,893 
   Gross loans1,116,829 1,174,734 
Allowance for credit losses on loans(8,390)(8,407)
Net deferred loan costs2,133 2,066 
    Net loans$1,110,572 $1,168,393 
The following table presents collateral dependent loans to borrowers experiencing financial difficulty by loan class and collateral type as of the balance sheet dates:
June 30, 2026December 31, 2025
Real EstateReal Estate
(Dollars in thousands)
Residential real estate$612 $629 
Non-residential commercial real estate16,515 15,492 
Total$17,127 $16,121 
Schedule of Financing Receivable, Modified
The following tables summarize loan modifications to borrowers experiencing financial difficulty for the three and six months ended June 30, 2025:
Payment Delay
Three Months Ended June 30, 2025Six Months Ended
June 30, 2025
Amortized Cost Basis% of Loan ClassAmortized Cost Basis% of Loan ClassFinancial Effect
(Dollars in thousands)
Commercial construction real estate$12,480 21.75 %$12,480 21.75 %
Modification extended loan draw period 6 months, extended interest only payments by 12 months and extended maturity date by 18 months.
The following table presents the performance of loans as of December 31, 2025 that had been modified in the previous twelve months:
December 31, 2025CurrentPast Due
30-89 Days		Past Due 90 Days and Over
(Dollars in thousands)
Non-residential commercial real estate$12,933 $— $— 
Total$12,933 $— $—