Loans, Leases and Allowance (Tables)

9 Months Ended

Sep. 30, 2025

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

The following table shows the composition of the loan and lease portfolio at September 30, 2025 and December 31, 2024:

	September 30, 2025		December 31, 2024
Commercial mortgage	$	420,680	$	371,705
Commercial and industrial	138,333		126,367
Construction and development	67,446		132,570
Multi-family	216,982		185,864
Residential mortgage	166,594		172,644
Home equity lines of credit	18,816		16,826
Direct financing leases	146,413		148,102
Consumer	19,914		21,218
	1,195,178		1,175,296
Less
Allowance for credit losses on loans and leases	16,365		15,791
Deferred loan fees	581		626
	$	1,178,232	$	1,158,879

Schedule of Financing Receivable Credit Quality Indicators

The following tables present the credit risk profile of the Company’s loan and lease portfolio based on rating category, payment activity, and origination year as of September 30, 2025 and rating category as of December 31, 2024:

	2025		2024		2023		2022		2021		Prior		Revolving loans amortized cost basis		Total
As of September 30, 2025:
Commercial mortgage
Pass	$	53,720	$	31,812	$	43,919	$	81,884	$	54,162	$	110,444	$	37,081	$	413,022
Substandard	—		—		—		—		7,658		—		—		7,658
Total Commercial mortgage	53,720		31,812		43,919		81,884		61,820		110,444		37,081		420,680
Current period gross charge-offs	—		—		—		—		—		—		—		—
Commercial and industrial
Pass	18,134		16,227		23,483		7,079		9,654		11,196		50,683		136,456
Substandard	—		—		—		207		—		32		1,638		1,877
Total Commercial and industrial	18,134		16,227		23,483		7,286		9,654		11,228		52,321		138,333
Current period gross charge-offs	—		—		—		—		2		—		—		2
Construction and development
Pass	20,185		22,079		10,860		1,526		6,763		110		—		61,523
Special Mention	—		—		429		594		—		—		—		1,023
Substandard	—		—		—		—		—		4,900		—		4,900
Total Construction and development	20,185		22,079		11,289		2,120		6,763		5,010		—		67,446
Current period gross charge-offs	—		—		—		—		—		—		—		—
Multi-family
Pass	18,630		18,748		9,126		66,430		46,604		23,892		26,352		209,782
Special Mention	—		—		—		2,362		1,382		—		—		3,744
Substandard	—		—		—		—		—		3,456		—		3,456
Total Multi-family	18,630		18,748		9,126		68,792		47,986		27,348		26,352		216,982
Current period gross charge-offs	—		—		—		—		—		—		—		—
Residential mortgage
Pass	14,666		16,926		30,488		25,482		25,417		49,362		2,819		165,160
Substandard	—		—		107		—		447		880		—		1,434
Total Residential mortgage	14,666		16,926		30,595		25,482		25,864		50,242		2,819		166,594
Current period gross charge-offs	—		—		—		—		—		—		—		—
Home equity
Pass	105		—		182		—		57		—		18,055		18,399
Substandard	—		—		—		—		—		—		417		417
Total Home equity lines of credit	105		—		182		—		57		—		18,472		18,816
Current period gross charge-offs	—		—		—		—		—		—		—		—
Direct financing leases
Pass	45,980		41,426		37,024		15,138		4,842		942		—		145,352
Substandard	—		129		66		136		61		—		—		392
Doubtful	9		201		282		111		60		6		—		669
Total Direct financing leases	45,989		41,756		37,372		15,385		4,963		948		—		146,413
Current period gross charge-offs	—		171		817		326		234		17		—		1,565
Consumer
Pass	5,384		5,079		4,251		3,309		1,332		445		—		19,800
Substandard	—		2		29		39		38		6		—		114
Total Consumer	5,384		5,081		4,280		3,348		1,370		451		—		19,914
Current period gross charge-offs	42		17		39		31		9		23		—		161
Total Loans and Leases	$	176,813	$	152,629	$	160,246	$	204,297	$	158,477	$	205,671	$	137,045	$	1,195,178
Total current period gross charge-offs	$	42	$	188	$	856	$	357	$	245	$	40	$	—	$	1,728

	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Total
As of December 31, 2024:
Commercial mortgage
Pass	$	22,469	$	40,634	$	82,254	$	65,852	$	31,382	$	90,763	$	33,393	$	366,747
Substandard	—		—		—		234		4,724		—		—		4,958
Total Commercial mortgage	22,469		40,634		82,254		66,086		36,106		90,763		33,393		371,705
Current period gross charge-offs	—		—		—		—		—		—		—		—
Commercial and industrial
Pass	18,197		28,998		9,866		11,111		2,703		9,648		44,026		124,549
Substandard	—		—		282		—		—		35		1,501		1,818
Total Commercial and industrial	18,197		28,998		10,148		11,111		2,703		9,683		45,527		126,367
Current period gross charge-offs	—		—		—		—		—		16		—		16
Construction and development
Pass	20,811		44,837		43,691		18,185		30		116		—		127,670
Substandard	—		—		—		—		—		4,900		—		4,900
Total Construction and development	20,811		44,837		43,691		18,185		30		5,016		—		132,570
Current period gross charge-offs	—		—		—		—		—		—		—		—
Multi-family
Pass	7,252		3,789		61,936		50,178		6,195		24,845		26,751		180,946
Special Mention	—		—		—		1,461		3,457		—		—		4,918
Total Multi-family	7,252		3,789		61,936		51,639		9,652		24,845		26,751		185,864
Current period gross charge-offs	—		—		—		—		—		—		—		—
Residential mortgage
Pass	22,614		33,949		28,498		28,302		16,239		39,174		2,513		171,289
Substandard	—		35		—		450		—		870		—		1,355
Total Residential mortgage	22,614		33,984		28,498		28,752		16,239		40,044		2,513		172,644
Current period gross charge-offs	—		—		—		—		—		10		—		10
Home equity
Pass	18		198		—		57		—		—		16,539		16,812
Substandard	—		—		—		—		—		—		14		14
Total Home equity lines of credit	18		198		—		57		—		—		16,553		16,826
Current period gross charge-offs	—		—		—		—		—		—		—		—
Direct financing leases
Pass	53,286		53,601		25,447		11,381		3,336		329		—		147,380
Substandard	127		318		175		40		28		—		—		688
Doubtful	—		9		—		7		18		—		—		34
Total Direct financing leases	53,413		53,928		25,622		11,428		3,382		329		—		148,102
Current period gross charge-offs	—		741		592		325		72		1		—		1,731
Consumer
Pass	6,807		6,272		5,200		2,088		438		314		—		21,119
Substandard	—		3		47		49		—		—		—		99
Total Consumer	6,807		6,275		5,247		2,137		438		314		—		21,218
Current period gross charge-offs	47		89		114		32		—		3		—		285
Total Loans and Leases	$	151,581	$	212,643	$	257,396	$	189,395	$	68,550	$	170,994	$	124,737	$	1,175,296
Total current period gross charge-offs	$	47	$	830	$	706	$	357	$	72	$	30	$	—	$	2,042

Schedule of Loans Classified by Aging Analysis

The following tables present the Company’s loan and lease portfolio aging analysis of the recorded investment in loans and leases as of September 30, 2025 and December 31, 2024:

	September 30, 2025
	Delinquent Loans and Leases								Current		Total Portfolio Loans and Leases		Total Loans and Leases > 90 Days Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 Days and Over		Total Past Due
Commercial mortgage	$	—	$	—	$	704	$	704	$	419,976	$	420,680	$	—
Commercial and industrial	—		81		—		81		138,252		138,333		—
Construction and development	—		—		4,900		4,900		62,546		67,446		—
Multi-family	—		—		2,362		2,362		214,620		216,982		2,362
Residential mortgage	874		344		1,432		2,650		163,944		166,594		1,357
Home equity	203		40		417		660		18,156		18,816		417
Direct financing leases	588		44		162		794		145,619		146,413		162
Consumer	170		38		114		322		19,592		19,914		114
Totals	$	1,835	$	547	$	10,091	$	12,473	$	1,182,705	$	1,195,178	$	4,412

	December 31, 2024
	Delinquent Loans and Leases								Current		Total Portfolio Loans and Leases		Total Loans and Leases > 90 Days Accruing
	30-59 Days Past Due		60-89 Days Past Due		90 Days and Over		Total Past Due
Commercial mortgage	$	101	$	216	$	—	$	317	$	371,388	$	371,705	$	—
Commercial and industrial	419		—		—		419		125,948		126,367		—
Construction and development	429		240		4,900		5,569		127,001		132,570		—
Multi-family	—		—		—		—		185,864		185,864		—
Residential mortgage	781		540		1,356		2,677		169,967		172,644		1,261
Home equity	11		58		14		83		16,743		16,826		14
Direct financing leases	673		362		340		1,375		146,727		148,102		340
Consumer	108		183		99		390		20,828		21,218		99
Totals	$	2,522	$	1,599	$	6,709	$	10,830	$	1,164,466	$	1,175,296	$	1,714

Schedule of Financing Receivable, Nonaccrual

The following table presents information on the Company’s nonaccrual loans and leases at September 30, 2025 and December 31, 2024:

	September 30, 2025				December 31, 2024
	Nonaccrual loans and leases		Nonaccrual loans and leases without an allowance for credit losses		Nonaccrual loans and leases		Nonaccrual loans and leases without an allowance for credit losses
Commercial mortgage	$	704	$	—	$	—	$	—
Commercial and industrial	32		32		35		—
Construction and development	4,900		—		4,900		—
Residential mortgage	76		76		94		94
Direct financing leases	669		669		34		34
Total nonaccrual loans and leases	$	6,381	$	777	$	5,063	$	128

The following tables present the Company's amortized cost basis of collateral dependent loans, and their respective collateral type, which are individually analyzed to determine expected credit losses as of September 30, 2025 and December 31, 2024:

	September 30, 2025
	Commercial Real Estate		Multi-family Housing		Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial mortgage	$	7,436	$	—	$	—	$	—	$	7,436	$	150
Commercial and industrial	—		—		—		1,638		1,638		—
Construction and development	5,923		—		—		—		5,923		1,750
Multi-family	—		7,201		—		—		7,201		250
Residential mortgage	—		—		124		—		124		—
Total	$	13,359	$	7,201	$	124	$	1,638	$	22,322	$	2,150

	December 31, 2024
	Commercial Real Estate		Multi-family Housing		Residential Real Estate		Other		Total		Allowance on Collateral Dependent Loans
Commercial mortgage	$	4,724	$	—	$	—	$	—	$	4,724	$	—
Commercial and industrial	—		—		—		1,501		1,501		—
Construction and development	4,900		—		—		—		4,900		1,000
Multi-family	—		1,461		—		—		1,461		—
Residential mortgage	—		—		143		—		143		—
Total	$	9,624	$	1,461	$	143	$	1,501	$	12,729	$	1,000

Schedule of Direct Financing Lease, Lease Income

The following lists the components of the net investment in direct financing leases:

	September 30, 2025		December 31, 2024
Total minimum lease payments to be received	$	167,468	$	168,934
Initial direct costs	9,198		9,360
	176,666		178,294
Less: Unearned income	(30,253)		(30,192)
Net investment in direct finance leases	$	146,413	$	148,102

Schedule of Lessor, Operating Lease, Payment to be Received, Fiscal Year Maturity

The following table summarizes the future minimum lease payments receivable subsequent to September 30, 2025:

Remainder of 2025	$	18,028
2026	61,105
2027	44,158
2028	27,686
2029	13,083
Thereafter	3,408
	$	167,468

Schedule of Financing Receivable, Allowance for Credit Loss

The following tables summarize changes in the allowance for credit losses by segment for the three and nine months ended September 30, 2025 and 2024, respectively:

	Balances, June 30, 2025		Provision for (reversal of) credit losses		Charge-offs		Recoveries		Balances, September 30, 2025
Commercial mortgage	$	4,788	$	(157)	$	—	$	—	$	4,631
Commercial and industrial	1,660		53		(2)		11		1,722
Construction and development	2,143		153		—		—		2,296
Multi-family	2,652		(85)		—		—		2,567
Residential mortgage	1,876		(52)		—		2		1,826
Home equity	211		(34)		—		—		177
Direct financing leases	2,512		553		(400)		118		2,783
Consumer	377		32		(61)		15		363
Total	$	16,219	$	463	$	(463)	$	146	$	16,365

	Balances, December 31, 2024		Provision for (reversal of) credit losses		Charge-offs		Recoveries		Balances, September 30, 2025
Commercial mortgage	$	4,486	$	145	$	—	$	—	$	4,631
Commercial and industrial	1,483		225		(2)		16		1,722
Construction and development	2,243		53		—		—		2,296
Multi-family	2,660		(93)		—		—		2,567
Residential mortgage	1,910		(108)		—		24		1,826
Home equity	184		(7)		—		—		177
Direct financing leases	2,469		1,595		(1,565)		284		2,783
Consumer	356		103		(161)		65		363
Total	$	15,791	$	1,913	$	(1,728)	$	389	$	16,365

	Balances, June 30, 2024		Provision for (reversal of) credit losses		Charge-offs		Recoveries		Balances, September 30, 2024
Commercial mortgage	$	4,781	$	(531)	$	—	$	—	$	4,250
Commercial and industrial	1,421		152		(16)		3		1,560
Construction and development	3,464		(1,096)		—		—		2,368
Multi-family	2,097		500		—		—		2,597
Residential mortgage	1,761		220		—		2		1,983
Home equity	133		43		—		—		176
Direct financing leases	1,920		983		(463)		18		2,458
Consumer	305		66		(34)		44		381
Total	$	15,882	$	337	$	(513)	$	67	$	15,773

	Balances, December 31, 2023		Provision for (reversal of) credit losses		Charge-offs		Recoveries		Balances, September 30, 2024
Commercial mortgage	$	4,655	$	(405)	$	—	$	—	$	4,250
Commercial and industrial	1,281		217		(16)		78		1,560
Construction and development	3,883		(1,515)		—		—		2,368
Multi-family	1,789		808		—		—		2,597
Residential mortgage	1,681		301		(10)		11		1,983
Home equity	102		74		—		—		176
Direct financing leases	1,955		1,706		(1,334)		131		2,458
Consumer	317		144		(172)		92		381
Total	$	15,663	$	1,330	$	(1,532)	$	312	$	15,773

The following tables detail activity in the allowance for credit losses on unfunded commitments during the three and nine months ended September 30, 2025 and 2024:

	Three Months Ended September 30,
	2025		2024
Beginning balance	$	584	$	1,103
Reversal of credit losses	(194)		(436)
Ending balance	$	390	$	667

	Nine Months Ended September 30,
	2025		2024
Beginning balance	$	558	$	1,642
Reversal of credit losses	(168)		(975)
Ending balance	$	390	$	667