MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY	12 Months Ended
Dec. 31, 2024
Broker-Dealer [Abstract]
MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY	NOTE 8 MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Company modifies loans by providing principal forgiveness on certain of its real estate loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses. In some cases, the Company will modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. On September 27, 2024, Hurricane Helene passed through western North Carolina, southwest Virginia and northeast Tennessee, causing flood and wind damage in its path. To assist borrowers impacted by this natural disaster, we offered short-term payment deferrals of 3 months. At December 31, 2024, 36 loans totaling $9.2 million are participating in this deferral program. One of these loans, a residential mortgage loan totaling $178,000, received an additional 3 month deferral, due to the extent of damage to the property. Additionally, there were no loans that had a payment default during the year that were modified in the previous 12 months.

MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY

12 Months Ended

Dec. 31, 2024

MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY

NOTE 8 MODIFICATIONS MADE TO BORROWERS EXPERIENCING FINANCIAL DIFFICULTY

An assessment of whether a borrower is experiencing financial difficulty is made on the date of a modification. Because the effect of most modifications made to borrowers experiencing financial difficulty is already included in the allowance for credit losses because of the measurement methodologies used to estimate the allowance, a change to the allowance for credit losses is generally not recorded upon modification. Occasionally, the Company modifies loans by providing principal forgiveness on certain of its real estate loans. When principal forgiveness is provided, the amortized cost basis of the asset is written off against the allowance for credit losses. The amount of the principal forgiveness is deemed to be uncollectible; therefore, that portion of the loan is written off, resulting in a reduction of the amortized cost basis and a corresponding adjustment to the allowance for credit losses.

In some cases, the Company will modify a certain loan by providing multiple types of concessions. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted.

On September 27, 2024, Hurricane Helene passed through western North Carolina, southwest Virginia and northeast Tennessee, causing flood and wind damage in its path. To assist borrowers impacted by this natural disaster, we offered short-term payment deferrals of 3 months. At December 31, 2024, 36 loans totaling $9.2 million are participating in this deferral program. One of these loans, a residential mortgage loan totaling $178,000, received an additional 3 month deferral, due to the extent of damage to the property. Additionally, there were no loans that had a payment default during the year that were modified in the previous 12 months.