Loans And Allowance For Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of Company's Loan

The following presents a summary of the Company’s loans at amortized cost as of the dates noted (dollars in thousands):

	December 31,
	2023			2022
1-4 Family residential real estate	$	61,645		$	63,176
Commercial		50,169			48,567
Consumer and other		698			1,048
Construction		34,538			43,664
Non-Owner Occupied (NOO) CRE		168,404			185,699
Owner Occupied (OO) CRE		82,228			61,375
Multifamily		60,546			61,201
Gross loans		458,228			464,730
Deferred loan fees		(1,201	)		(1,370	)
Loans held for investment		457,027			463,360
Less: allowance for credit losses		(5,860	)		(4,778	)
Loans, net	$	451,167		$	458,582

Schedule of Allowance for Credit Losses

Allocation of a portion of the allowance for credit losses to one category of loans does not preclude its availability to absorb losses in other categories. The following table presents the activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2023, and December 31, 2022 (dollars in thousands):

	1–4 Family Residential Real Estate			Commercial			Consumer and Other			Construction			NOO Commercial Real Estate			OO Commercial Real Estate			Multifamily			Total
Changes in allowance for credit losses for the year ended December 31, 2023
Beginning balance	$	454		$	1,382		$	56		$	222		$	1,680		$	555		$	429		$	4,778
Impact of adopting of ASU 2016-13		(33	)		(307	)		(50	)		441			271			142			140			604
Provision (credit) for loan losses		309			170			2			(151	)		3,290			504			51			4,175
Loans charged off		—			(321	)		—			—			(3,382	)		—			—			(3,703	)
Recoveries		6			—			—			—						—			—			6
Balance on December 31, 2023	$	736		$	924		$	8		$	512		$	1,859		$	1,201		$	620		$	5,860
	1–4 Family Residential Real Estate			Commercial			Consumer and Other			Construction			NOO Commercial Real Estate			OO Commercial Real Estate			Multifamily			Total
Changes in allowance for loan losses for the year ended December 31, 2022
Beginning balance	$	470		$	647		$	101		$	282		$	2,565		$	731		$	532		$	5,328
Provision (credit) for loan losses		49			3,640			(45	)		(60	)		(885	)		(176	)		(103	)		2,420
Loans charged off		(72	)		(2,905	)		—			—			—			—			—			(2,977	)
Recoveries		7			—			—			—			—			—			—			7
Balance on December 31, 2022	$	454		$	1,382		$	56		$	222		$	1,680		$	555		$	429		$	4,778
Allowance for loan losses - December 31, 2022
Ending balance individually evaluated for impairment	$	—		$	99		$	—		$	—		$	—		$	—		$	—		$	99
Ending balance collectively evaluated for impairment		454			1,283			56			222			1,680			555			429			4,679
Total	$	454		$	1,382		$	56		$	222		$	1,680		$	555		$	429		$	4,778
Gross loans - December 31, 2022
Ending balance individually evaluated for impairment	$	719		$	1,641		$	—		$	1,591		$	—		$	—		$	—		$	3,951
Ending balance collectively evaluated for impairment		62,457			46,926			1,048			42,073			185,699			61,375			61,201			460,779
Total	$	63,176		$	48,567		$	1,048		$	43,664		$	185,699		$	61,375		$	61,201		$	464,730

Schedule of Loan Category and Aging Analysis of Loans

The following table presents the aging of the recorded investment in contractually past due loans, as of December 31, 2023, and 2022. It is shown by class of loans (dollars in thousands):

	Loans Contractually Past Due
December 31, 2023	30–59 Days		60–89 Days		Over 90 Days		Total		Loans Not Past Due		Total
1-4 Family residential real estate	$	409	$	—	$	—	$	409	$	61,236	$	61,645
Commercial		—		—		589		589		49,580		50,169
Consumer and other		—		—		—		—		698		698
Construction		—		—		—		—		34,538		34,538
NOO CRE		—		—		—		168,404		—		168,404
OO CRE		—		—		—		—		82,228		82,228
Multifamily		—		—		—		—		60,546		60,546
Total	$	409	$	—	$	589	$	998	$	457,230	$	458,228
	Loans Contractually Past Due
December 31, 2022	30–59 Days		60–89 Days		Over 90 Days		Total		Loans Not Past Due		Total
1-4 Family residential real estate	$	536	$	441	$	—	$	977	$	62,199	$	63,176
Commercial		313		427		292		1,032		47,535		48,567
Consumer and other		—		—		—		—		1,048		1,048
Construction		—		—		—		—		43,664		43,664
NOO CRE		512		—		—		512		185,187		185,699
OO CRE		—		—		—		—		61,375		61,375
Multifamily		—		519		—		519		60,682		61,201
Total	$	1,361	$	1,387	$	292	$	3,040	$	461,690	$	464,730

Schedule of Average Recorded Investment and Interest Income Recognized

December 31, 2022 (dollars in thousands)	Unpaid Principal Balance		Recorded Investment		Allowance for Loan Losses Allocated		Average Recorded Investment
With no related allowance recorded:
Construction	$	1,591	$	1,591	$	—	$	1,464
1-4 Family Residential RE		719		719		—		739
Commercial and Industrial		—		—		—		—
Consumer		—		—		—		—
With an allowance recorded:
Commercial Real Estate		—		—		—		—
1-4 Family Residential RE		—		—		—		—
Commercial and Industrial		4,546		1,641		99		4,333
Consumer		—		—		—		—
Total	$	6,856	$	3,951	$	99	$	6,536

Schedule of loan category and loan by risk categories

	Term Loans Amortized Cost by Origination
December 31, 2023	2023		2022		2021		2020		2019		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
1-4 Family
Pass	$	4,244	$	24,009	$	12,236	$	7,928	$	1,466	$	9,622	$	1,717	$	—	$	61,222
Special Mention		—		—		—		—		—		357		—		—		357
Substandard		—		—		—		—		—		67		—		—		67
Doubtful		—		—		—		—		—		—		—		—		—
Total 1-4 Family		4,244		24,009		12,236		7,928		1,466		10,045		1,717		—		61,645
Current year-to-date gross write-offs		—		—		—		—		—		—		—		—		—
Commercial
Pass		13,150		15,405		3,234		3,176		87		1,546		10,139		—		46,737
Special Mention		—		163		—		2,018		—		—		—		—		2,181
Substandard		—		—		—		903		96		—		—		—		999
Doubtful		—		—		—		—		252		—		—		—		252
Total Commercial		13,150		15,568		3,234		6,097		435		1,546		10,139		—		50,169
Current year-to-date gross write-offs		—		—		—		—		321		—		—		—		321
Consumer and other
Pass		43		138		—		5		10		3		499		—		698
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total Consumer and Other		43		138		—		5		10		3		499		—		698
Current year-to-date gross write-offs		—		—		—		—		—		—		—		—		—
Construction
Pass		7,788		21,551		3,938		38		310		592		321		—		34,538
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total Construction		7,788		21,551		3,938		38		310		592		321		—		34,538
Current year-to-date gross write-offs		—		—		—		—		—		—		—		—		—
NOO CRE
Pass		7,187		35,899		53,442		21,091		13,491		30,911		6,140		—		168,161
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		—		243		—		—		—		—		243
Doubtful		—		—		—		—		—		—		—		—		—
Total NOO CRE		7,187		35,899		53,442		21,334		13,491		30,911		6,140		—		168,404
Current year-to-date gross write-offs		3,382		—		—		—		—		—		—		—		3,382
OO CRE
Pass		20,726		12,365		20,807		7,966		5,806		4,214		—		—		71,884
Special Mention		228		—		7,196		—		—		1,690		—		—		9,114
Substandard		—		—		—		37		1,193		—		—		—		1,230
Doubtful		—		—		—		—		—		—		—		—		—
Total OO CRE		20,954		12,365		28,003		8,003		6,999		5,904		—		—		82,228
Current year-to-date gross write-offs		—		—		—		—		—		—		—		—		—
Multi Family
Pass		500		15,652		22,007		7,572		6,369		7,105		371		—		59,575
Special Mention		—		—		—		—		—		—		—		—		—
Substandard		—		—		970		—		—		—		—		—		970
Doubtful		—		—		—		—		—		—		—		—		—
Total Multi Family		500		15,652		22,977		7,572		6,369		7,105		371		—		60,546
Current year-to-date gross write-offs		—		—		—		—		—		—		—		—		—
Total	$	53,866	$	125,182	$	123,830	$	50,977	$	29,080	$	56,106	$	19,187	$	—	$	458,228
Total year-to-date gross write-offs	$	3,382	$	—	$	—	$	—	$	321	$	—	$	—	$	—	$	3,703

As of December 31, 2022, the risk category of loans by class of loans was as follows (dollars in thousands):

December 31, 2022	Pass		Special Mention		Substandard		Doubtful		Not Risk Rated		Total
1-4 Family	$	62,517	$	—	$	659	$	—	$	—	$	63,176
Commercial		46,474		377		1,716		—		—		48,567
Consumer and other		993		—		—		—		55		1,048
Construction		42,073		—		1,591		—		—		43,664
NOO CRE		185,699		—		—		—		—		185,699
OO CRE		57,407		3,685		283		—		—		61,375
Multi Family		61,201		—		—		—		—		61,201
Total	$	456,364	$	4,062	$	4,249	$	—	$	55	$	464,730

Schedule of Nonaccrual Loans

	As of December 31, 2023
	Non-accrual loans with no ACL		Total non-accrual loans		Loans past due over 89 days and still accruing
1-4 Family residential real estate	$	66	$	66	$	—
Commercial		847		1,208		—
Consumer and other		—		—		—
Construction		—		—		—
NOO CRE		—		—		—
OO CRE		—		—		—
Multifamily		970		970		—
Total	$	1,883	$	2,244	$	—
	As of December 31, 2022
	Non-accrual loans with no ACL		Total non-accrual loans		Loans past due over 89 days and still accruing
1-4 Family residential real estate	$	719	$	719	$	—
Commercial		—		1,641		292
Consumer and other		—		—		—
Construction		1,591		1,591		—
NOO CRE		—		—		—
OO CRE		—		—		—
Multifamily		—		—		—
Total	$	2,310	$	3,951	$	292

Schedule of Collateral Dependent Loans

	As of December 31, 2023 Collateral Dependent Loans
	Secured by Real Estate		Secured by Other		Total
1-4 Family residential real estate	$	66	$	—	$	66
Commercial		—		1,208		1,208
Consumer and other		—		—		—
Construction		—		—		—
NOO CRE		—		—		—
OO CRE		—		—		—
Multifamily		970		—		970
Total	$	1,036	$	1,208	$	2,244