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Loans and Allowance for Loan Losses (Tables)

6 Months Ended

Jun. 30, 2022

A summary of the Company’s loan portfolio is as follows:


	June 30,		December 31,
	2022		2021
Commercial real estate loans:
Construction	$	11,568	$	10,095
Non-residential		258,179		245,568
Multi-family		67,953		55,926
Residential real estate loans		39,622		35,646
Commercial and industrial loans⁽¹⁾		91,454		104,323
Consumer loans:
Indirect automobile		434,579		382,088
Home equity		11,588		11,857
Other consumer		9,021		7,955
Total gross loans		923,964		853,458
Net deferred loan costs		11,393		9,068
Allowance for loan losses		(8,169)		(7,559)
Total net loans	$	927,188	$	854,967

⁽¹⁾	Includes $3,560 and $29,464 in U.S. Small Business Administration (“SBA”), paycheck protection program (“PPP”) loans at June 30, 2022 and December 31, 2021, respectively.

Schedule of loans by risk rating and portfolio segment

The following tables present the classes of the loan portfolio summarized by the pass category and the criticized and classified categories of special mention and substandard within the internal risk system:


	June 30, 2022
	Pass		Special Mention		Substandard		Total
Commercial real estate:
Construction	$	11,568	$	—	$	—	$	11,568
Non-residential		246,805		8,026		3,348		258,179
Multifamily		67,953		—		—		67,953
Residential real estate		37,746		—		1,876		39,622
Commercial and industrial		86,772		4,201		481		91,454
Consumer:
Indirect automobile		434,045		—		534		434,579
Home equity		11,466		—		122		11,588
Other consumer		8,983		—		38		9,021
Total	$	905,338	$	12,227	$	6,399	$	923,964


	December 31, 2021
	Pass		Special Mention		Substandard		Total
Commercial real estate:
Construction	$	10,095	$	—	$	—	$	10,095
Non-residential		232,253		10,341		2,974		245,568
Multifamily		55,926		—		—		55,926
Residential real estate		33,416		—		2,230		35,646
Commercial and industrial		98,171		5,377		775		104,323
Consumer:
Indirect automobile		381,354		—		734		382,088
Home equity		11,587		—		270		11,857
Other consumer		7,908		—		47		7,955
Total	$	830,710	$	15,718	$	7,030	$	853,458

Schedule of classes of the loan portfolio by the aging categories of performing loans and nonaccrual loans

The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans:


	June 30, 2022
							Greater Than
			30-59 Days		60-89 Days		90 Days Past		Total Loans
	Current		Past Due		Past Due		Due		Receivable		Non-accrual
Commercial real estate:
Construction	$	11,568	$	—	$	—	$	—	$	11,568	$	—
Non-residential		256,336		—		29		1,814		258,179		1,814
Multifamily		67,953		—		—		—		67,953		—
Residential real estate		37,695		1,322		—		605		39,622		1,876
Commercial and industrial		90,702		456		90		206		91,454		206
Consumer:
Indirect automobile		426,047		7,051		959		522		434,579		534
Home equity		11,378		96		90		24		11,588		122
Other consumer		8,868		73		42		38		9,021		38
Total	$	910,547	$	8,998	$	1,210	$	3,209	$	923,964	$	4,590


	December 31, 2021
							Greater Than
			30-59 Days		60-89 Days		90 Days Past		Total Loans
	Current		Past Due		Past Due		Due		Receivable		Non-accrual
Commercial real estate:
Construction	$	10,095	$	—	$	—	$	—	$	10,095	$	—
Non-residential		242,205		115		527		2,721		245,568		2,721
Multifamily		55,926		—		—		—		55,926		—
Residential real estate		34,363		57		242		984		35,646		2,230
Commercial and industrial		103,517		246		—		560		104,323		687
Consumer:
Indirect automobile		374,729		5,977		715		667		382,088		734
Home equity		11,429		149		106		173		11,857		270
Other consumer		7,702		153		53		47		7,955		47
Total	$	839,966	$	6,697	$	1,643	$	5,152	$	853,458	$	6,689

Schedule of information to impaired loans by loan portfolio class

The following tables summarize information regarding impaired loans by loan portfolio class:


	June 30, 2022
	Recorded		Unpaid Principal		Related		Average Recorded
	Investment		Balance		Allowance		Investment
With no related allowance recorded:
Commercial real estate:
Non-residential	$	1,814	$	2,885	$	—	$	2,461
Residential real estate		1,876		2,476		—		2,162
Commercial and industrial		199		252		—		608
Consumer:
Indirect automobile		308		378		—		294
Home equity		122		123		—		185
Other consumer		38		42		—		42
Total	$	4,357	$	6,156	$	—	$	5,752
With an allowance recorded:
Commercial and industrial	$	7	$	7	$	7	$	2
Consumer:
Indirect automobile		226		233		30		291
Other consumer		—		—		—		9
Total	$	233	$	240	$	37	$	302
Total:
Commercial real estate:
Non-residential	$	1,814	$	2,885	$	—	$	2,461
Residential real estate		1,876		2,476		—		2,162
Commercial and industrial		206		259		7		610
Consumer:
Indirect automobile		534		611		30		585
Home equity		122		123		—		185
Other consumer		38		42		—		51
Total	$	4,590	$	6,396	$	37	$	6,054


	December 31, 2021
	Recorded		Unpaid Principal		Related		Average Recorded
	Investment		Balance		Allowance		Investment
With no related allowance recorded:
Commercial real estate:
Non-residential	$	2,721	$	3,797	$	—	$	2,290
Residential real estate		2,230		2,786		—		2,459
Commercial and industrial		687		921		—		674
Consumer:
Indirect automobile		345		408		—		219
Home equity		270		276		—		338
Other consumer		47		48		—		50
Total	$	6,300	$	8,236	$	—	$	6,030
With an allowance recorded:
Commercial real estate:
Commercial and industrial	$	—	$	—	$	—	$	148
Consumer:
Indirect automobile		389		395		68		286
Total	$	389	$	395	$	68	$	434
Total:
Commercial real estate:
Non-residential	$	2,721	$	3,797	$	—	$	2,290
Residential real estate		2,230		2,786		—		2,459
Commercial and industrial		687		921		—		822
Consumer:
Indirect automobile		734		803		68		505
Home equity		270		276		—		338
Other consumer		47		48		—		50
Total	$	6,689	$	8,631	$	68	$	6,464

Schedule of loan balances by segment

The following tables summarize the segments of the loan portfolio and the allowance for loan losses, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment and the activity in the allowance for loan losses for the periods then ended:


	Commercial				Commercial
	Real Estate		Residential		and Industrial		Indirect		Consumer		Totals

	Three months ended June 30, 2022
Allowance for loan losses:
Beginning balance	$	3,314	$	55	$	743	$	3,535	$	53	$	7,700
Provision for loan losses		126		4		115		60		41		346
Loans charged-off		—		—		—		(407)		(38)		(445)
Recoveries		—		—		1		550		17		568
Ending balance	$	3,440	$	59	$	859	$	3,738	$	73	$	8,169

	Commercial		Residential		Commercial
	Real Estate		Real Estate		and Industrial			Indirect	Consumer		Totals

	Three months ended June 30, 2021
Allowance for loan losses:
Beginning balance	$	4,162	$	131	$	1,319	$	5,512	$	137	$	11,261
(Credit to) provision for loan losses		671		(11)		(647)		(1,366)		205		(1,148)
Loans charged-off		—		—		(1)		(491)		(6)		(498)
Recoveries		—		—		88		416		7		511
Ending balance	$	4,833	$	120	$	759	$	4,071	$	343	$	10,126


	Commercial		Residential		Commercial
	Real Estate		Real Estate		and Industrial		Indirect		Consumer		Totals

	Six months ended June 30, 2022

Allowance for loan losses:
Beginning balance	$	3,317	$	54	$	725	$	3,416	$	47	$	7,559
Provision for (credit to) loan losses		123		(105)		133		355		61		567
Loans charged-off		—		(44)		—		(1,054)		(61)		(1,159)
Recoveries		—		154		1		1,021		26		1,202
Ending balance	$	3,440	$	59	$	859	$	3,738	$	73	$	8,169
Ending balance:
Loans deemed impaired	$	—	$	—	$	7	$	30	$	—	$	37
Loans not deemed impaired	$	3,440	$	59	$	852	$	3,708	$	73	$	8,132
Loan receivables:
Ending balance	$	337,700	$	39,622	$	91,454	$	434,579	$	20,609	$	923,964
Ending balance:
Loans deemed impaired	$	1,814	$	1,876	$	206	$	534	$	160	$	4,590
Loans not deemed impaired	$	335,886	$	37,746	$	91,248	$	434,045	$	20,449	$	919,374


	Commercial		Residential		Commercial
	Real Estate		Real Estate		and Industrial			Indirect	Consumer		Totals

	Six months ended June 30, 2021
Allowance for loan losses:
Beginning balance	$	5,354	$	117	$	1,050	$	4,974	$	138	$	11,633
(Credit to) provision for loan losses		(521)		—		(378)		(509)		191		(1,217)
Loans charged-off		—		—		(1)		(1,117)		(9)		(1,127)
Recoveries		—		3		88		723		23		837
Ending balance	$	4,833	$	120	$	759	$	4,071	$	343	$	10,126
Ending balance:
Loans deemed impaired	$	—	$	—	$	285	$	51	$	—	$	336
Loans not deemed impaired	$	4,833	$	120	$	474	$	4,020	$	343	$	9,790
Loan receivables:
Ending balance	$	287,920	$	38,392	$	144,620	$	372,479	$	21,496	$	864,907
Ending balance:
Loans deemed impaired	$	2,426	$	2,537	$	848	$	396	$	468	$	6,675
Loans not deemed impaired	$	285,494	$	35,855	$	143,772	$	372,083	$	21,028	$	858,232


	Commercial		Residential		Commercial
	Real Estate		Real Estate		and Industrial		Indirect		Consumer		Totals

	December 31, 2021
Allowance for loan losses:
Ending balance:
Loans deemed impaired	$	—	$	—	$	—	$	68	$	—	$	68
Loans not deemed impaired	$	3,317	$	54	$	725	$	3,348	$	47	$	7,491
Loan receivables:
Ending balance	$	311,589	$	35,646	$	104,323	$	382,088	$	19,812	$	853,458
Ending balance:
Loans deemed impaired	$	2,721	$	2,230	$	687	$	734	$	317	$	6,689
Loans not deemed impaired	$	308,868	$	33,416	$	103,636	$	381,354	$	19,495	$	846,769