LOANS (Tables)

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Summary of loans receivable outstanding

(Dollars in thousands)	March 31, 2024		December 31, 2023
Real estate secured:
Commercial	$	239,600	$	240,187
Construction and land development		29,475		28,830
Residential 1-4 family		237,425		238,233
Multifamily		34,494		34,571
Farmland		16,455		16,401
Total real estate loans		557,449		558,222
Commercial		52,063		53,230
Agriculture		3,607		3,508
Consumer installment loans		25,058		22,639
All other loans		417		512
Total loans	$	638,594	$	638,111

Summary of loans receivable on nonaccrual status

	March 31, 2024						December 31, 2023
	With No Allowance		With an Allowance		Total		With No Allowance		With an Allowance		Total
(Dollars in thousands)
Real estate secured:
Commercial	$	2,096	$	142	$	2,238	$	544	$	268	$	812
Residential 1-4 family		3,002		—		3,002		2,495		—		2,495
Multifamily		179		—		179		199		—		199
Total real estate loans		5,277		142		5,419		3,238		268		3,506
Commercial		—		98		98		—		—		—
Consumer installment loans and other loans		32		—		32		28		—		28
Total loans receivable on nonaccrual status	$	5,309	$	240	$	5,549	$	3,266	$	268	$	3,534

Schedule of summary of impaired loans

	March 31, 2024				December 31, 2023
	Unpaid Principal Balance		Related Allowance		Unpaid Principal Balance		Related Allowance
(Dollars in thousands)
Real estate secured:
Commercial	$	2,550	$	1	$	812	$	64
Residential 1-4 family		307		—		312		—
Total real estate loans		2,857		1		1,124		64
Commercial		241		111		—		—
Total	$	3,098	$	112	$	1,124	$	64

The following table is an age analysis of past due loans receivable as of March 31, 2024, segregated by class:

The following table is an age analysis of past due loans receivable as of March 31, 2024, segregated by class:

March 31, 2024 (Dollars in thousands)	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans
Real estate secured:
Commercial	$	1,305	$	337	$	268	$	1,910	$	237,690	$	239,600
Construction and land development		5		—		—		5		29,470		29,475
Residential 1-4 family		2,371		664		792		3,827		233,598		237,425
Multifamily		—		—		—		—		34,494		34,494
Farmland		301		—		—		301		16,154		16,455
Total real estate loans		3,982		1,001		1,060		6,043		551,406		557,449
Commercial		490		—		—		490		51,573		52,063
Agriculture		—		—		—		—		3,607		3,607
Consumer installment Loans		112		71		5		188		24,870		25,058
All other loans		—		—		—		—		417		417
Total loans	$	4,584	$	1,072	$	1,065	$	6,721	$	631,873	$	638,594

The following table is an age analysis of past due loans receivable as of December 31, 2023, segregated by class:

December 31, 2023 (Dollars in thousands)	Loans 30-59 Days Past Due		Loans 60-89 Days Past Due		Loans 90 or More Days Past Due		Total Past Due Loans		Current Loans		Total Loans
Real estate secured:
Commercial	$	878	$	—	$	268	$	1,146	$	239,041	$	240,187
Construction and land development		85		4		—		89		28,741		28,830
Residential 1-4 family		2,628		1,119		886		4,633		233,600		238,233
Multifamily		—		—		199		199		34,372		34,571
Farmland		—		—		—		—		16,401		16,401
Total real estate loans		3,591		1,123		1,353		6,067		552,155		558,222
Commercial		—		20		—		20		53,210		53,230
Agriculture		8		—		—		8		3,500		3,508
Consumer installment Loans		140		11		1		152		22,487		22,639
All other loans		—		—		—		—		512		512
Total loans	$	3,739	$	1,154	$	1,354	$	6,247	$	631,864	$	638,111

The following table presents the credit risk grade of loans by origination year as of March 31, 2024:

The following table presents the credit risk grade of loans by origination year as of March 31, 2024:

As of March 31, 2024
(Dollars are in thousands)	2024			2023			2022			2021			2020		Prior		Revolving			Total
Commercial real estate
Pass	$	2,769		$	46,559		$	49,038		$	48,397		$	27,901	$	61,331	$	965		$	236,960
Special mention		—			—			—			—			—		362		—			362
Substandard		—			—			—			1,166			313		799		—			2,278
Total commercial real estate	$	2,769		$	46,559		$	49,038		$	49,563		$	28,214	$	62,492	$	965		$	239,600
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Construction and Land Development
Pass	$	1,365		$	12,980		$	3,841		$	4,739		$	2,468	$	4,082	$	—		$	29,475
Special mention		—			—			—			—			—		—		—			—
Substandard		—			—			—			—			—		—		—			—
Total construction and land development	$	1,365		$	12,980		$	3,841		$	4,739		$	2,468	$	4,082	$	—		$	29,475
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Residential 1-4 family
Pass	$	5,957		$	27,646		$	32,317		$	40,234		$	13,139	$	91,408	$	23,855		$	234,556
Special mention		—			—			—			—			—		254		—			254
Substandard		—			87			—			123			—		2,271		134			2,615
Total residential 1-4 family	$	5,957		$	27,733		$	32,317		$	40,357		$	13,139	$	93,933	$	23,989		$	237,425
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Multifamily
Pass	$	597		$	6,262		$	10,482		$	7,997		$	2,596	$	6,381	$	—		$	34,315
Special mention		—			—			—			—			—		—		—			—
Substandard		—			54			—			—			—		125		—			179
Total multifamily	$	597		$	6,316		$	10,482		$	7,997		$	2,596	$	6,506	$	—		$	34,494
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Farmland
Pass	$	413		$	1,795		$	2,251		$	3,330		$	768	$	7,734	$	—		$	16,291
Special mention		—			—			—			—			—		164		—			164
Substandard		—			—			—			—			—		—		—			—
Total farmland	$	413		$	1,795		$	2,251		$	3,330		$	768	$	7,898	$	—		$	16,455
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Commercial
Pass	$	4,822		$	17,921		$	7,729		$	5,084		$	1,434	$	3,076	$	11,819		$	51,885
Special mention		—			—			—			—			—		3		—			3
Substandard		—			77			98			—			—		—		—			175
Total commercial	$	4,822		$	17,998		$	7,827		$	5,084		$	1,434	$	3,079	$	11,819		$	52,063
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Agriculture
Pass	$	168		$	515		$	483		$	337		$	103	$	591	$	1,392		$	3,589
Special mention		—			—			—			—			—		—		—			—
Substandard		—			—			—			—			—		18		—			18
Total agriculture	$	168		$	515		$	483		$	337		$	103	$	609	$	1,392		$	3,607
Current period gross charge-offs	$	—		$	—		$	—		$	—		$	—	$	—	$	—		$	—
Consumer and All Other
Pass	$	5,176		$	10,818		$	4,175		$	2,041		$	762	$	1,239	$	1,249		$	25,460
Special mention		—			—			1			—			—		—		—			1
Substandard		6			5			—			1			2		—		—			14
Total consumer and all other	$	5,182		$	10,823		$	4,176		$	2,042		$	764	$	1,239	$	1,249		$	25,475
Current period gross charge-offs	$	(46	)	$	(10	)	$	(2	)	$	(6	)	$	—	$	—	$	(6	)	$	(70	)
Total	$	21,273		$	124,719		$	110,415		$	113,449		$	49,486	$	179,838	$	39,414		$	638,594
Total current period gross charge-offs	$	(46	)	$	(10	)	$	(2	)	$	(6	)	$	—	$	—	$	(6	)	$	(70	)

The following table presents the credit risk grade of loans by origination year as of December 31, 2023:

As of December 31, 2023
(Dollars are in thousands)		2023		2022		2021		2020		2019		Prior		Revolving		Total
Commercial real estate
Pass	$	46,616	$	49,061	$	48,943	$	28,651	$	20,004	$	43,524	$	997	$	237,796
Special mention		-		-		1,171		314		-		92		-		1,577
Substandard		-		-		-		-		429		385		-		814
Total commercial real estate	$	46,616	$	49,061	$	50,114	$	28,965	$	20,433	$	44,001	$	997	$	240,187
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Construction and Land Development
Pass	$	12,043	$	5,990	$	4,738	$	2,521	$	1,799	$	1,637	$	-	$	28,728
Special mention		-		-		-		-		-		102		-		102
Substandard		-		-		-		-		-		-		-		-
Total construction and land development	$	12,043	$	5,990	$	4,738	$	2,521	$	1,799	$	1,739	$	-	$	28,830
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Residential 1-4 family
Pass	$	29,006	$	33,986	$	41,214	$	13,566	$	13,662	$	80,087	$	23,553	$	235,074
Special mention		-		-		-		-		-		259		-		259
Substandard		87		-		49		-		38		2,662		64		2,900
Total residential 1-4 family	$	29,093	$	33,986	$	41,263	$	13,566	$	13,700	$	83,008	$	23,617	$	238,233
Current period gross charge-offs	$	-	$	-	$	(30)	$	-	$	-	$	(21)	$	-	$	(51)
Multifamily
Pass	$	5,779	$	11,483	$	7,965	$	2,626	$	1,081	$	5,438	$	-	$	34,372
Special mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		199		-		199
Total multifamily	$	5,779	$	11,483	$	7,965	$	2,626	$	1,081	$	5,637	$	-	$	34,571
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Farmland
Pass	$	1,807	$	2,222	$	3,414	$	776	$	1,205	$	6,793	$	-	$	16,217
Special mention		-		-		-		-		-		184		-		184
Substandard		-		-		-		-		-		-		-		-
Total farmland	$	1,807	$	2,222	$	3,414	$	776	$	1,205	$	6,977	$	-	$	16,401
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	-	$	-	$	-
Commercial
Pass	$	19,306	$	10,228	$	5,638	$	1,591	$	2,167	$	1,342	$	12,777	$	53,049
Special mention		78		100		-		-		-		3		-		181
Substandard		-		-		-		-		-		-		-		-
Total commercial	$	19,384	$	10,328	$	5,638	$	1,591	$	2,167	$	1,345	$	12,777	$	53,230
Current period gross charge-offs	$	-	$	(5)	$	(14)	$	-	$	(26)	$	-	$	-	$	(45)
Agriculture
Pass	$	565	$	518	$	347	$	127	$	67	$	649	$	1,217	$	3,490
Special mention		-		-		-		-		-		-		-		-
Substandard		-		-		-		-		-		18		-		18
Total agriculture	$	565	$	518	$	347	$	127	$	67	$	667	$	1,217	$	3,508
Current period gross charge-offs	$	-	$	-	$	-	$	-	$	-	$	(59)	$	-	$	(59)
Consumer and All Other
Pass	$	12,352	$	4,822	$	2,408	$	864	$	594	$	761	$	1,339	$	23,140
Special mention		-		1		-		-		-		-		-		1
Substandard		4		-		1		3		1		1		-		10
Total consumer and all other	$	12,356	$	4,823	$	2,409	$	867	$	595	$	762	$	1,339	$	23,151
Current period gross charge-offs	$	(198)	$	(49)	$	(13)	$	-	$	-	$	(2)	$	(59)	$	(321)
Total	$	127,643	$	118,411	$	115,888	$	51,039	$	41,047	$	144,136	$	39,947	$	638,111
Total current period gross charge-offs	$	(198)	$	(54)	$	(57)	$	-	$	(26)	$	(82)	$	(59)	$	(476)