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Loans (Tables)
 6 Months Ended
Jun. 30, 2022
Loans [Abstract]  
Summary of Loans Held for Investment
June 30, 2022
December 31, 2021
Total
Percent of
Total
Total
Percent of
Total
Residential Real Estate
$
203,662
14.8
%
$
201,359
16.9
%
Commercial Real Estate
843,445
61.5
%
704,988
59.2
%
Commercial and Industrial
131,271
9.5
%
146,592
12.3
%
Foreign Banks
84,770
6.2
%
59,491
5.0
%
Consumer and Other
 
109,250
8.0
%
79,229
6.6
%
Total
 
gross loans
1,372,398
100.0
%
1,191,659
100.0
%
Less: Deferred fees (cost)
(335)
1,578
Total
 
loans net of deferred fees (cost)
1,372,733
1,190,081
Less: Allowance for credit losses
15,786
15,057
Total
 
net loans
$
1,356,947
$
1,175,024
Allowance for Credit Losses
Residential
Real Estate
Commercial
Real Estate
Commercial
and Industrial
Foreign
Banks
Consumer
and Other
Total
Three Months Ended June 30, 2022
Beginning balance
$
2,357
$
9,183
$
2,355
$
491
$
688
$
15,074
Provision for credit losses
9
107
311
160
118
705
Recoveries
-
-
5
-
3
8
Charge-offs
-
-
-
-
(1)
(1)
Ending Balance
 
$
2,366
$
9,290
$
2,671
$
651
$
808
$
15,786
 
 
 
 
 
Six Months Ended June 30, 2022
 
 
 
 
 
Beginning balance
$
2,498
$
8,758
$
2,775
$
457
$
569
$
15,057
Provision for credit losses
(148)
532
(115)
194
242
705
Recoveries
32
-
11
-
3
46
Charge-offs
(16)
-
-
-
(6)
(22)
Ending Balance
 
$
2,366
$
9,290
$
2,671
$
651
$
808
$
15,786
Residential
Real Estate
Commercial
Real Estate
Commercial
and Industrial
Foreign
Banks
Consumer
and Other
Total
June 30, 2022:
Allowance for credit losses:
Individually evaluated for impairment
$
165
$
-
$
50
$
-
$
104
$
319
Collectively evaluated for impairment
2,201
9,290
2,621
651
704
15,467
Balances, end of period
$
2,366
$
9,290
$
2,671
$
651
$
808
$
15,786
 
 
 
 
 
Loans:
 
 
 
 
 
Individually evaluated for impairment
$
7,307
$
594
$
99
$
-
$
210
$
8,210
Collectively evaluated for impairment
196,355
842,851
131,172
84,770
109,040
1,364,188
Balances, end of period
$
203,662
$
843,445
$
131,271
$
84,770
$
109,250
$
1,372,398
 
 
 
 
 
December 31, 2021:
 
 
 
 
 
Allowance for credit losses:
 
 
 
 
 
Individually evaluated for impairment
$
178
$
-
$
71
$
-
$
111
$
360
Collectively evaluated for impairment
2,320
8,758
2,704
457
458
14,697
Balances, end of period
$
2,498
$
8,758
$
2,775
$
457
$
569
$
15,057
 
 
 
 
 
Loans:
 
 
 
 
 
Individually evaluated for impairment
$
9,006
$
696
$
141
$
-
$
224
$
10,067
Collectively evaluated for impairment
192,353
704,292
146,451
59,491
79,005
1,181,592
Balances, end of period
$
201,359
$
704,988
$
146,592
$
59,491
$
79,229
$
1,191,659
Loan Credit Exposures
As of June 30, 2022
Pass
Special
Mention
Substandard
Doubtful
Total Loans
Residential real estate:
Home equity line of credit ("HELOC") and other
$
707
$
-
$
-
$
-
$
707
1-4 family residential
144,937
-
-
-
144,937
Condo residential
58,018
-
-
-
58,018
203,662
-
-
-
203,662
Commercial real estate:
 
 
 
 
Land and construction
37,326
-
-
-
37,326
Multi-family residential
134,535
-
-
-
134,535
Condo commercial
48,103
-
406
-
48,509
Commercial property
621,789
1,197
-
-
622,986
Leasehold improvements
89
-
-
-
89
841,842
1,197
406
-
843,445
Commercial and industrial:
(1)
 
 
 
 
Secured
111,293
-
462
-
111,755
Unsecured
19,516
-
-
-
19,516
130,809
-
462
-
131,271
 
 
 
 
Foreign banks
84,770
-
-
-
84,770
Consumer and other loans
109,040
-
210
-
109,250
 
 
 
 
Total
$
1,370,123
$
1,197
$
1,078
$
-
$
1,372,398
(1)
 
All outstanding PPP loans were internally graded
 
pass.
As of December 31, 2021
Pass
Special
Mention
Substandard
Doubtful
Total Loans
Residential real estate:
Home equity line of credit ("HELOC") and other
$
701
$
-
$
-
$
-
$
701
1-4 family residential
130,840
-
4,581
-
135,421
Condo residential
65,237
-
-
-
65,237
196,778
-
4,581
-
201,359
Commercial real estate:
Land and construction
24,581
-
-
-
24,581
Multi-family residential
127,489
-
-
-
127,489
Condo commercial
41,983
-
417
-
42,400
Commercial property
509,189
1,222
-
-
510,411
Leasehold improvements
107
-
-
-
107
703,349
1,222
417
-
704,988
Commercial and industrial:
(1)
Secured
97,605
-
536
-
98,141
Unsecured
48,434
-
17
-
48,451
146,039
-
553
-
146,592
Foreign banks
59,491
-
-
-
59,491
Consumer and other loans
79,005
-
224
-
79,229
Total
$
1,184,662
$
1,222
$
5,775
$
-
$
1,191,659
(1)
 
All outstanding PPP loans were internally graded
 
pass.
Aging Analysis of Accruing and Total Non-Accruing Loans
Accruing
As of June 30, 2022:
Current
Past Due 30-
89 Days
Past Due 90
Days or >
and Still
Accruing
Total
Accruing
Non-Accrual
Total Loans
Residential real estate:
Home equity line of credit and other
$
707
$
-
 
$
-
$
707
$
-
$
707
1-4 family residential
144,937
-
-
144,937
-
144,937
Condo residential
57,338
680
-
58,018
-
58,018
202,982
680
-
203,662
-
203,662
Commercial real estate:
 
-
 
Land and construction
37,326
-
-
37,326
-
37,326
Multi-family residential
134,535
-
-
134,535
-
134,535
Condo commercial
48,509
-
-
48,509
-
48,509
Commercial property
622,986
-
-
622,986
-
622,986
Leasehold improvements
89
-
-
89
-
89
843,445
-
-
843,445
-
843,445
Commercial and industrial:
 
-
 
Secured
111,556
199
-
111,755
-
111,755
Unsecured
19,516
-
-
19,516
-
19,516
131,072
199
-
131,271
-
131,271
 
-
 
Foreign banks
84,770
-
-
84,770
-
84,770
Consumer and other
109,250
-
-
109,250
-
109,250
 
-
 
Total
$
1,371,519
$
879
$
-
$
1,372,398
$
-
$
1,372,398
Accruing
As of December 31, 2021:
Current
Past Due
30-89 Days
Past Due 90
Days or >
and Still
Accruing
Total
Accruing
Non-Accrual
Total Loans
Residential real estate:
Home equity line of credit and other
$
701
$
-
$
-
$
701
$
-
$
701
1-4 family residential
133,942
289
-
134,231
1,190
135,421
Condo residential
64,243
994
-
65,237
-
65,237
198,886
1,283
-
200,169
1,190
201,359
Commercial real estate:
 
 
 
 
Land and construction
24,581
-
-
24,581
-
24,581
Multi-family residential
127,053
436
-
127,489
-
127,489
Condo commercial
42,400
-
-
42,400
-
42,400
Commercial property
510,411
-
-
510,411
-
510,411
Leasehold improvements
107
-
-
107
-
107
704,552
436
-
704,988
-
704,988
Commercial and industrial:
 
 
 
 
Secured
98,141
-
-
98,141
-
98,141
Unsecured
48,041
410
-
48,451
-
48,451
146,182
410
-
146,592
-
146,592
 
 
 
 
Foreign banks
59,491
-
-
59,491
-
59,491
Consumer and other
78,969
260
-
79,229
-
79,229
 
 
Total
$
1,188,080
$
2,389
$
-
$
1,190,469
$
1,190
$
1,191,659
Impaired Loans
June 30, 2022
December 31, 2021
Unpaid
Principal
Balance
Net
Investment
Balance
Valuation
Allowance
Unpaid
Principal
Balance
Net
Investment
Balance
Valuation
Allowance
Impaired Loans with No Specific Allowance:
Residential real estate
$
3,598
$
3,592
$
-
$
5,021
$
5,035
$
-
Commercial real estate
593
593
-
696
695
-
4,191
4,185
-
5,717
5,730
-
Impaired Loans with Specific Allowance:
 
 
 
 
 
 
Residential real estate
3,710
3,677
165
3,985
3,950
178
Commercial and industrial
99
99
50
141
141
71
Consumer and other
210
210
104
224
224
111
4,019
3,986
319
4,350
4,315
360
Total
$
8,210
$
8,171
$
319
$
10,067
$
10,045
$
360
Three Months Ended June 30,
Six Months Ended June 30,
2022
2021
2022
2021
Residential real estate
$
7,332
$
8,321
$
7,890
$
9,027
Commercial real estate
599
718
631
723
Commercial and industrial
115
188
124
192
Consumer and other
214
262
217
268
Total
$
8,260
$
9,489
$
8,862
$
10,210
Performing and Non-Performing Troubled Debt Restructurings
June 30, 2022
December 31, 2021
Accrual Status
Non-Accrual
Status
Total TDRs
Accrual Status
Non-Accrual
Status
Total TDRs
Residential real estate
$
7,307
$
-
$
7,307
$
7,815
$
-
$
7,815
Commercial real estate
594
-
594
696
-
696
Commercial and industrial
99
-
99
141
-
141
Consumer and other
 
210
-
210
224
-
224
Total
$
8,210
$
-
$
8,210
$
8,876
$
-
$
8,876