Loans Receivable

12 Months Ended

Dec. 31, 2024

Loans and Leases Receivable Disclosure [Abstract]

Loans Receivable

4. LOANS RECEIVABLE

The portfolio segments and classes of loans are as follows:

(In Thousands)	December 31, 2024			December 31, 2023
Agriculture and farmland loans	$	67,741		$	65,861
Construction loans		152,619			161,825
Commercial & industrial loans		245,833			232,412
Commercial real estate loans
Multifamily		211,778			176,843
Owner occupied		477,742			474,964
Non-owner occupied		628,237			551,481
Residential real estate loans
First liens		373,469			376,092
Second liens and lines of credit		76,713			66,648
Consumer and other loans		17,086			16,740
Municipal loans		3,886			5,244
		2,255,104			2,128,110
Deferred costs		645			174
Allowance for credit losses		(26,435	)		(23,767	)
Total	$	2,229,314		$	2,104,517

The above table does not include loans that are held for sale related to the New Jersey branch sale.

The Company originates commercial, residential, and consumer loans within its primary market areas of southcentral and southeastern Pennsylvania, northern Virginia, eastern Maryland, Delaware, and southern New Jersey. A significant portion of the loan portfolio is secured by real estate.

At December 31, 2024 and 2023, the Company serviced residential mortgage loans for the FHLB in the amount of $40,578 and $44,167, respectively.