Loans (Tables)

12 Months Ended

Dec. 31, 2023

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Composition of Loan Portfolio by Major Loan Classification

The composition of the loan portfolio by major loan classification appears below. Note that all loan balances are presented net of credit and other fair value discounts, when applicable. The Company has elected to exclude accrued interest receivable, totaling $4.3 million and $2.6 million as of December 31, 2023 and December 31, 2022, respectively, from the amortized cost basis of loans.

(Dollars in thousands)	December 31,			December 31,
	2023			2022
Commercial	$	152,517		$	71,139
Real estate construction and land		33,682			37,541
1-4 family residential mortgages		317,558			323,185
Commercial mortgages		550,867			459,125
Consumer		38,041			45,425
Total loans	$	1,092,665		$	936,415
Less: Allowance for credit losses		(8,395	)		(5,552	)
Net loans	$	1,084,270		$	930,863

Summary of Outstanding Principal Balance and Carrying Amount of Loans Acquired in Business Combination

The outstanding principal balance of loans acquired in business combinations as of December 31, 2023 are as follows:

(Dollars in thousands)	December 31, 2023
	Acquired Loans - Purchased Credit Deteriorated		Acquired Loans - Purchased Performing		Acquired Loans - Total
Outstanding principal balance	$	29,206	$	267,717	$	296,923
Carrying amount:
Commercial	$	62	$	9,242	$	9,304
Real estate construction and land		662		1,727		2,389
1-4 family residential mortgages		10,046		143,323		153,369
Commercial mortgages		12,251		109,500		121,751
Consumer		33		678		711
Total acquired loans	$	23,054	$	264,470	$	287,524

The outstanding principal balance and the carrying amount at December 31, 2022 of loans acquired in business combinations were as follows:

(Dollars in thousands)	December 31, 2022
	Acquired Loans - Purchased Credit Impaired		Acquired Loans - Purchased Performing		Acquired Loans - Total
Outstanding principal balance	$	43,250	$	290,604	$	333,854
Carrying amount:
Commercial	$	630	$	12,606	$	13,236
Real estate construction and land		1,461		8,530		9,991
1-4 family residential mortgages		9,076		164,280		173,356
Commercial mortgages		20,828		99,206		120,034
Consumer		72		1,277		1,349
Total acquired loans	$	32,067	$	285,899	$	317,966

Summary of Changes in Accretable Yield of Loans Classified as Purchased Credit Impaired

The following table presents a summary of the changes in the accretable yield of loans classified as purchased credit impaired:

(Dollars in thousands)	Twelve Months Ended
	December 31, 2022
Accretable yield, beginning of period	$	13,742
Additions		—
Accretion		(3,393	)
Reclassification from nonaccretable difference		9,022
Other changes, net		(3,503	)
Accretable yield, end of period	$	15,868

Schedule of Activity In Related Party Loans

Activity in related party loans during 2023 and 2022 is presented in the following table.

(Dollars in thousands)	2023			2022
Balance outstanding at beginning of year	$	15,533		$	16,592
Principal additions		132			613
Principal reductions		(2,650	)		(1,672	)
Balance outstanding at end of year	$	13,015		$	15,533

Schedule of Aging of Past Due Loans

The following table shows the aging of the Company's loan portfolio, by class, at December 31, 2023:

	30-59 Days		60-89 Days		90 Days or More Past Due and Still Accruing		Nonaccrual Loans		Current		Total Loans
(Dollars in thousands)
Commercial	$	378	$	369	$	782	$	-	$	150,988	$	152,517
Real estate construction and land		70		37		-		-		33,575		33,682
1-4 family residential mortgages		1,834		860		-		1,438		313,426		317,558
Commercial mortgages		6,304		-		-		414		544,149		550,867
Consumer loans		225		141		97		-		37,578		38,041
Total Loans	$	8,811	$	1,407	$	879	$	1,852	$	1,079,716	$	1,092,665

The following tables show the aging of past due loans as of December 31, 2022:

Past Due Aging as of December 31, 2022	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		PCI		Current		Total Loans		90 Days Past Due and Accruing
(Dollars in thousands)
Commercial	$	-	$	24	$	-	$	24	$	630	$	70,485	$	71,139	$	-
Real estate construction and land		287		-		75		362		1,461		35,718		37,541		-
1-4 family residential mortgages		1,176		191		598		1,965		9,076		312,144		323,185		-
Commercial mortgages		330		-		646		976		20,828		437,321		459,125		646
Consumer loans		315		41		59		415		72		44,938		45,425		59
Total Loans	$	2,108	$	256	$	1,378	$	3,742	$	32,067	$	900,606	$	936,415	$	705

Schedule of Impaired Loans Classified as Non-Accruals by Class

The following table shows the Company's amortized cost basis of loans on nonaccrual status as of December 31, 2023 and December 31, 2022.

	CECL						Incurred Loss
	December 31, 2023						December 31, 2022
(Dollars in thousands)	Nonaccrual Loans with No Allowance		Nonaccrual Loans with an Allowance		Total Nonaccrual Loans		Nonaccrual Loans
Commercial	$	-	$	-	$	-	$	-
Real estate construction and land		-		-		-		-
1-4 family residential mortgages		1,383		55		1,438		673
Commercial mortgages		414		-		414		-
Consumer		-		-		-		-
Total Loans	$	1,797	$	55	$	1,852	$	673

Schedule of Loans Modified Under Terms of a TDR

The following table provides a summary, by class, of TDRs as of December 31, 2022 that continued to accrue interest under the terms of the restructuring agreement, which were considered to be performing, and TDRs that were placed in nonaccrual status which were considered to be nonperforming:

Troubled debt restructurings	December 31, 2022
(Dollars in thousands)	No. of Loans		Recorded Investment
Performing TDRs
1-4 family residential mortgages		1	$	88
Consumer		46		700
Total performing TDRs		47	$	788
Nonperforming TDRs
1-4 family residential mortgages		1	$	495
Total nonperforming TDRs		1	$	495
Total TDRs		48	$	1,283