Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2025

Loans and Allowance for Credit Losses

Schedule of summary loan portfolio

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

	September 30,		December 31,
	2025		2024
Commercial real estate loans:
Construction	$	14,395	$	26,611
Non-residential		412,921		350,962
Multi-family		113,127		105,030
Residential real estate loans		99,154		86,651
Commercial and industrial loans		90,231		91,517
Consumer loans:
Indirect automobile		234,098		295,669
Home equity		11,766		11,656
Other consumer		6,136		6,830
Total gross loans		981,828		974,926
Dealer reserves		4,002		5,392
Allowance for credit losses		(8,196)		(8,539)
Total net loans	$	977,634	$	971,779

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:

	September 30, 2025
							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	$	14,395	$	—	$	—	$	—	$	14,395	$	—
Non-residential		411,253		—		—		1,668		412,921		1,668
Multifamily		113,116		—		—		11		113,127		11
Residential real estate		97,473		1,047		296		338		99,154		1,233
Commercial and industrial		89,488		392		298		53		90,231		53
Consumer:
Indirect automobile		225,713		6,752		875		758		234,098		777
Home equity		11,503		263		—		—		11,766		—
Other consumer		6,002		119		12		3		6,136		3
Total	$	968,943	$	8,573	$	1,481	$	2,831	$	981,828	$	3,745

	December 31, 2024
							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	$	26,611	$	—	$	—	$	—	$	26,611	$	—
Non-residential		348,220		873		—		1,869		350,962		1,869
Multifamily		105,008		22		—		—		105,030		—
Residential real estate		85,961		604		—		86		86,651		1,182
Commercial and industrial		91,090		57		159		211		91,517		319
Consumer:
Indirect automobile		283,458		10,062		1,593		556		295,669		590
Home equity		11,173		153		156		174		11,656		174
Other consumer		6,689		121		20		—		6,830		—
Total	$	958,210	$	11,892	$	1,928	$	2,896	$	974,926	$	4,134

Schedule of amortized cost basis of nonaccrual loans

The following table presents the Company’s amortized cost basis of non-accrual loans for which there is no related ACL:

	September 30, 2025		December 31, 2024
Commercial real estate:
Non-residential	$	1,668	$	1,869
Multifamily		11		—
Residential real estate		937		1,182
Commercial and industrial		53		299
Consumer:
Indirect automobile		248		131
Home equity		—		174
Total	$	2,917	$	3,655

The following table presents the Company’s amortized cost basis of only those non-accrual loans with a related ACL:

	September 30, 2025				December 31, 2024
	Non-accrual loans		Related ACL		Non-accrual loans		Related ACL
Residential real estate	$	296	$	15	$	—	$	—
Commercial and industrial		—		—		20		20
Consumer:
Indirect automobile		529		181		459		139
Other consumer		3		1		—		—
Total	$	828	$	197	$	479	$	159

Schedule of loan balances by segment

Activity in the Company’s ACL for loans for the three and nine months ended September 30, 2025 is summarized in the table below.

	Commercial				Commercial
	Real Estate		Residential		and Industrial		Indirect		Consumer		Totals
	Three months ended September 30, 2025
Allowance for credit losses:
Beginning balance	$	3,110	$	722	$	648	$	3,576	$	175	$	8,231
Provision for (reversal of) credit losses		883		34		(45)		63		(7)		928
Loans charged-off		(629)		—		(7)		(675)		(13)		(1,324)
Recoveries		—		—		—		356		5		361
Ending balance	$	3,364	$	756	$	596	$	3,320	$	160	$	8,196

		Commercial				Commercial
		Real Estate		Residential		and Industrial		Indirect		Consumer		Totals
Allowance for credit losses:	Nine months ended September 30, 2025
Beginning balance	$	2,988	$	575	$	684	$	4,133	$	159	$	8,539
Provision for (reversal of) credit losses		1,005		181		91		(68)		12		1,221
Loans charged-off		(629)		—		(182)		(1,935)		(44)		(2,790)
Recoveries		—		—		3		1,190		33		1,226
Ending balance	$	3,364	$	756	$	596	$	3,320	$	160	$	8,196

Activity in the Company’s ACL for loans for the three and nine months ended September 30, 2024 is summarized in the tables below.

	Commercial		Residential		Commercial
	Real Estate		Real Estate		and Industrial			Indirect	Consumer		Totals
	Three months ended September 30, 2024
Allowance for credit losses:
Beginning balance	$	2,806	$	377	$	576	$	3,698	$	117	$	7,574
Provision for (reversal of) credit losses		80		11		(20)		784		68		923
Loans charged-off		—		—		(1)		(863)		(55)		(919)
Recoveries		—		—		1		568		6		575
Ending balance	$	2,886	$	388	$	556	$	4,187	$	136	$	8,153

	Commercial		Residential		Commercial
	Real Estate		Real Estate		and Industrial			Indirect	Consumer		Totals
	Nine months ended September 30, 2024
Allowance for credit losses:
Beginning balance	$	2,716	$	346	$	606	$	4,348	$	108	$	8,124
Provision for credit losses		461		42		31		795		127		1,456
Loans charged-off		(291)		—		(83)		(2,676)		(136)		(3,186)
Recoveries		—		—		2		1,720		37		1,759
Ending balance	$	2,886	$	388	$	556	$	4,187	$	136	$	8,153

Schedule of ACL for unfunded commitments

Activity in the Company’s ACL for unfunded commitments for the three and nine months ended September 30, 2025 and 2024 is summarized in the tables below.

	Commercial				Commercial
	Real Estate		Residential		and Industrial		Indirect		Consumer		Totals
	Three months ended September 30, 2025
Allowance for credit losses:
Beginning balance	$	73	$	3	$	107	$	—	$	20	$	203
(Reversal of) provision for credit losses		(23)		(2)		1		—		—		(24)
Ending balance	$	50	$	1	$	108	$	—	$	20	$	179

	Commercial				Commercial
	Real Estate		Residential		and Industrial		Indirect		Consumer		Totals
	Nine months ended September 30, 2025
Allowance for credit losses:
Beginning balance	$	119	$	1	$	104	$	—	$	20	$	244
(Reversal of) provision for credit losses		(69)		—		4		—		—		(65)
Ending balance	$	50	$	1	$	108	$	—	$	20	$	179

	Commercial				Commercial
	Real Estate		Residential		and Industrial		Indirect		Consumer		Totals
	Three months ended September 30, 2024
Allowance for credit losses:
Beginning balance	$	160	$	3	$	80	$	—	$	11	$	254
(Reversal of) provision for credit losses		(42)		(2)		6		—		4		(34)
Ending balance	$	118	$	1	$	86	$	—	$	15	$	220

	Commercial				Commercial
	Real Estate		Residential		and Industrial		Indirect		Consumer		Totals
	Nine months ended September 30, 2024
Allowance for credit losses:
Beginning balance	$	172	$	—	$	72	$	—	$	13	$	257
(Reversal of) provision for credit losses		(54)		1		14		—		2		(37)
Ending balance	$	118	$	1	$	86	$	—	$	15	$	220

Summary of provision for credit losses

The following table summarizes the provision for credit losses for the three and nine months ended September 30, 2025 and 2024:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2025		2024		2025		2024
Provision for credit losses - loans	$	928	$	923	$	1,221	$	1,456
(Reversal of) provision for credit losses - unfunded commitments		(24)		(34)		(65)		(37)
Provision for credit losses	$	904	$	889	$	1,156	$	1,419

Schedule of loans by risk rating and portfolio segment

The following table presents the credit risk profile of the Company’s loan portfolio (excluding loans in process) based on rating category, as well as gross write-offs for the nine months ended September 30, 2025, and by fiscal year of origination as of September 30, 2025.

													Revolving
	Loans by Origination Year												Loans
	2025		2024		2023		2022		2021		Prior		Amortized Cost		Total
Commercial construction
Pass	$	2,000	$	-	$	-	$	-	$	-	$	-	$	-	$	2,000
Watch		400		11,995		-		-		-		-		-		12,395
Total commercial construction		2,400		11,995		-		-		-		-		-		14,395
Commercial non-residential
Pass	$	61,629	$	45,073	$	36,368	$	35,293	$	26,251	$	76,283	$	-	$	280,897
Watch		12,190		8,419		25,203		23,460		2,525		41,342		-		113,139
Special mention		-		-		7,969		1,608		843		5,635		-		16,055
Substandard		-		-		-		720		-		2,110		-		2,830
Total commercial non-residential		73,819		53,492		69,540		61,081		29,619		125,370		-		412,921
Current-period gross write-offs		-		-		-		629		-		-		-		629
Multifamily
Pass	$	11,025	$	741	$	594	$	18,161	$	33,717	$	7,137	$	-	$	71,375
Watch		-		5,642		10,216		10,827		5,553		9,514		-		41,752
Total multifamily		11,025		6,383		10,810		28,988		39,270		16,651		-		113,127
Residential
Performing	$	17,996	$	14,803	$	26,010	$	21,215	$	1,941	$	15,956	$	-	$	97,921
Non-performing		-		-		-		296		-		937		-		1,233
Total residential		17,996		14,803		26,010		21,511		1,941		16,893		-		99,154
Commercial and industrial
Pass	$	5,470	$	10,080	$	7,408	$	14,935	$	6,213	$	595	$	19,369	$	64,070
Watch		3,275		3,009		895		4,923		158		965		11,988		25,213
Special mention		-		-		-		468		83		86		250		887
Substandard		-		-		-		-		22		-		39		61
Total commercial and industrial		8,745		13,089		8,303		20,326		6,476		1,646		31,646		90,231
Current-period gross write-offs				11		6		-		-		165		-		182
Indirect automobile
Performing	$	36,701	$	42,867	$	53,277	$	68,687	$	24,170	$	7,619	$	-	$	233,321
Non-performing		-		53		127		386		131		80		-		777
Total indirect automobile		36,701		42,920		53,404		69,073		24,301		7,699		-		234,098
Current-period gross write-offs		56		298		352		720		401		108		-		1,935
Home equity
Performing	$	593	$	208	$	-	$	-	$	-	$	3,362	$	7,603	$	11,766
Total home equity		593		208		-		-		-		3,362		7,603		11,766
Other consumer
Performing	$	1,833	$	1,684	$	1,107	$	1,083	$	195	$	12	$	219	$	6,133
Non-performing		-		-		3		-		-		-		-		3
Total other consumer		1,833		1,684		1,110		1,083		195		12		219		6,136
Current-period gross write-offs		11		15		12		6		-		-		-		44
Total Loans
Pass/performing	$	137,247	$	115,456	$	124,764	$	159,374	$	92,487	$	110,964	$	27,191	$	767,483
Watch		15,865		29,065		36,314		39,210		8,236		51,821		11,988		192,499
Special mention		0		-		7,969		2,076		926		5,721		250		16,942
Substandard		-		-		-		720		22		2,110		39		2,891
Non-performing		-		53		130		682		131		1,017		-		2,013
Total Loans	$	153,112	$	144,574	$	169,177	$	202,062	$	101,802	$	171,633	$	39,468	$	981,828
Total Current-period gross write-offs	$	67	$	324	$	370	$	1,355	$	401	$	273	$	-	$	2,790

The following table presents the credit risk profile of the Company’s loan portfolio (excluding loans in process) based on rating category, as well as gross write-offs for the year ended December 31, 2024, and by fiscal year of origination as of December 31, 2024.

													Revolving
	Loans by Origination Year												Loans
	2024		2023		2022		2021		2020		Prior		Amortized Cost		Total
Commercial construction
Watch	$	6,509	$	17,261	$	2,841	$	-	$	-	$	-	$	-	$	26,611
Total commercial construction		6,509		17,261		2,841		-		-		-		-		26,611
Commercial non-residential
Pass	$	46,429	$	36,900	$	47,082	$	27,329	$	16,104	$	69,260	$	-	$	243,104
Watch		8,515		14,336		16,201		7,341		10,952		33,799		-		91,144
Special mention		-		-		3,009		873		322		5,745		-		9,949
Substandard		-		-		2,834		-		-		3,931		-		6,765
Total commercial non-residential		54,944		51,236		69,126		35,543		27,378		112,735		-		350,962
Current-period gross write-offs		-		-		-		-		-		291		-		291
Multifamily
Pass	$	-	$	1,398	$	18,410	$	28,939	$	2,034	$	5,296	$	-	$	56,077
Watch		5,673		10,235		11,027		11,863		-		10,155		-		48,953
Total multifamily		5,673		11,633		29,437		40,802		2,034		15,451		-		105,030
Residential
Performing	$	15,456	$	26,755	$	23,922	$	2,032	$	2,638	$	14,666	$	-	$	85,469
Non-performing		-		-		-		-		-		1,182		-		1,182
Total residential		15,456		26,755		23,922		2,032		2,638		15,848		-		86,651
Commercial and industrial
Pass	$	13,386	$	9,810	$	19,044	$	7,944	$	650	$	957	$	17,303	$	69,094
Watch		3,269		745		5,667		191		365		1,081		10,004		21,322
Special mention		-		-		506		191		98		6		-		801
Substandard		-		-		-		-		-		103		38		141
Doubtful		-		-		-		-		-		159		-		159
Total commercial and industrial		16,655		10,555		25,217		8,326		1,113		2,306		27,345		91,517
Current-period gross write-offs		-		40		-		7		-		561		-		608
Indirect automobile
Performing	$	54,048	$	72,083	$	104,879	$	42,286	$	15,440	$	6,343	$	-	$	295,079
Non-performing		46		78		182		187		62		35		-		590
Total indirect automobile		54,094		72,161		105,061		42,473		15,502		6,378		-		295,669
Current-period gross write-offs		171		812		1,533		665		256		189		-		3,626
Home equity
Performing	$	341	$	-	$	-	$	-	$	-	$	3,684	$	7,457	$	11,482
Non-performing		-		-		-		-		-		174		-		174
Total home equity		341		-		-		-		-		3,858		7,457		11,656
Other consumer
Performing	$	2,581	$	1,703	$	1,829	$	400	$	89	$	11	$	217	$	6,830
Total other consumer		2,581		1,703		1,829		400		89		11		217		6,830
Current-period gross write-offs		12		82		73		6		24		4		-		201
Total Loans
Pass/performing	$	132,241	$	148,649	$	215,166	$	108,930	$	36,955	$	100,217	$	24,977	$	767,135
Watch		23,966		42,577		35,736		19,395		11,317		45,035		10,004		188,030
Special mention		0		-		3,515		1,064		420		5,751		-		10,750
Substandard		-		-		2,834		-		0		4,034		38		6,906
Doubtful		-		-		-		-		-		159		-		159
Non-performing		46		78		182		187		62		1,391		-		1,946
Total Loans	$	156,253	$	191,304	$	257,433	$	129,576	$	48,754	$	156,587	$	35,019	$	974,926
Total Current-period gross write-offs	$	183	$	934	$	1,606	$	678	$	280	$	1,045	$	-	$	4,726