Loans and Allowance for Credit Losses (Tables)

9 Months Ended

Sep. 30, 2024

Loans and Allowance for Credit Losses

Schedule of Classes of loans

	September 30,		December 31,
	2024		2023
Mortgage loans on real estate:
Residential 1-4 family	$	65,001	$	62,842
Commercial		21,166		17,739
Construction and land development		1,306		2,780
Total mortgage loans on real estate		87,473		83,361
Commercial loans		4,851		5,000
Consumer		3,648		3,029
		95,972		91,390
Less:
Allowance for credit losses		859		675
Net loans	$	95,113	$	90,715

Schedule of balance in the allowance for credit losses and the recorded investment in loans

	For the Three Months Ended
	September 30, 2024
	Mortgage Loans on Real Estate
					Construction
	Residential				and Land
	1-4 Family		Commercial		Development		Commercial
Allowance for credit losses:
Balance, beginning of period	$	258	$	347	$	8	$	62
Provision charged to expense		9		158		(3)		(47)
Losses charged off		—		—		—		(1)
Recoveries		—		—		—		49
Balance, end of period	$	267	$	505	$	5	$	63
Allowance for credit losses for unfunded loan commitments
Balance, beginning of period	$	4	$	8	$	11	$	3
Provision charged to expense		(1)		(1)		(6)		—
Losses charged off		—		—		—		—
Recoveries		—		—		—		—
Balance, end of period	$	3	$	7	$	5	$	3

	For the Three Months Ended
	September 30, 2024 (Continued)
	Consumer		Total
Allowance for credit losses:
Balance, beginning of period	$	18	$	693
Provision charged to expense		4		121
Losses charged off		(3)		(4)
Recoveries		—		49
Balance, end of year	$	19	$	859
Allowance for credit losses for unfunded loan commitments
Balance, beginning of year	$	—	$	26
Provision charged to expense		—		(8)
Losses charged off		—		—
Recoveries		—		—
Balance, end of year	$	—	$	18

	For the Three Months Ended
	September 30, 2023
	Mortgage Loans on Real Estate
					Construction
	Residential				and Land
	1-4 Family		Commercial		Development		Commercial
Allowance for credit losses:
Balance, beginning of period	$	237	$	287	$	9	$	39
Provision charged to expense		7		33		3		20
Losses charged off		—		—		—		—
Recoveries		—		—		—		—
Balance, end of year	$	244	$	320	$	12	$	59
Allowance for credit losses for unfunded loan commitments
Balance, beginning of year	$	2	$	10	$	8	$	3
Provision charged to expense		(1)		—		8		—
Losses charged off		—		—		—		—
Recoveries		—		—		—		—
Balance, end of year	$	1	$	10	$	16	$	3

	For the Three Months Ended
	September 30, 2023 (Continued)
	Consumer		Total
Allowance for credit losses:
Balance, beginning of period	$	15	$	587
Provision charged to expense		1		64
Losses charged off		—		—
Recoveries		—		—
Balance, end of year	$	16	$	651
Allowance for credit losses for unfunded loan commitments
Balance, beginning of year	$	—	$	23
Provision charged to expense		—		7
Losses charged off		—		—
Recoveries		—		—
Balance, end of year	$	—	$	30

	For the Nine Months Ended
	September 30, 2024
	Mortgage Loans on Real Estate
					Construction
	Residential				and Land
	1-4 Family		Commercial		Development		Commercial
Allowance for credit losses:
Balance, beginning of year	$	247	$	332	$	15	$	65
Provision charged to expense		20		173		(10)		(39)
Losses charged off		—		—		—		(12)
Recoveries		—		—		—		49
Balance, end of year	$	267	$	505	$	5	$	63
Allowance for credit losses for unfunded loan commitments
Balance, beginning of year	$	2	$	10	$	8	$	2
Provision charged to expense		1		(3)		(3)		1
Losses charged off		—		—		—		—
Recoveries		—		—		—		—
Balance, end of year	$	3	$	7	$	5	$	3

	For the Nine Months Ended
	September 30, 2024 (Continued)
	Consumer		Total
Allowance for credit losses:
Balance, beginning of year	$	16	$	675
Provision charged to expense		6		150
Losses charged off		(3)		(15)
Recoveries		—		49
Balance, end of year	$	19	$	859
Allowance for credit losses for unfunded loan commitments
Balance, beginning of year	$	—	$	22
Provision charged to expense		—		(4)
Losses charged off		—		—
Recoveries		—		—
Balance, end of year	$	—	$	18

	For the Nine Months Ended
	September 30, 2023
	Mortgage Loans on Real Estate
					Construction
	Residential				and Land
	1-4 Family		Commercial		Development		Commercial
Allowance for credit losses:
Balance, beginning of year	$	262	$	218	$	11	$	36
Provision charged to expense		1		28		(5)		28
CECL Adoption Adjustment		(19)		74		6		(5)
Losses charged off		—		—		—		—
Recoveries		—		—		—		—
Balance, end of year	$	244	$	320	$	12	$	59
Allowance for credit losses:
Balance, beginning of year	$	—	$	—	$	—	$	—
Provision charged to expense		1		10		16		3
Losses charged off		—		—		—		—
Recoveries		—		—		—		—
Balance, end of year	$	1	$	10	$	16	$	3

	For the Nine Months Ended
	September 30, 2023 (Continued)
	Consumer		Total
Allowance for credit losses:
Balance, beginning of year	$	16	$	543
Provision charged to expense		1		53
CECL Adoption Adjustment		(1)		55
Losses charged off		—		—
Recoveries		—		—
Balance, end of year	$	16	$	651
Allowance for credit losses for unfunded loan commitments:
Balance, beginning of year	$	—	$	—
Provision charged to expense		—		30
Losses charged off		—		—
Recoveries		—		—
Balance, end of year	$	—	$	30

Schedule of components of the provision for credit losses

The provision for credit losses is determined by the Company as the amount that is added to ACL accounts to bring the ACL to that, in management's judgement, is necessary to absorb expected credit losses over the lives of the respective financial instruments. The following table presents the components of the provision for credit losses:
	Three months ended September 30,				Nine months ended September 30,
	2024		2023		2024		2023
Provision for credit losses:
Loans	$	121	$	64	$	150	$	53
Unfunded loan commitments		(8)		7		(4)		30
Total	$	113	$	71	$	146	$	83

Schedule of credit risk profile of the Bank's loan portfolio based on internal rating category and payment activity

	September 30, 2024
													Revolving
													Lines of
	2024		2023		2022		2021		2020		Prior		Credit		Total
Pass
Residential 1-4 Family	$	5,893	$	7,614	$	9,062	$	7,663	$	14,986	$	18,633	$	884	$	64,735
Commercial Real Estate		4,662		3,358		4,084		3,473		1,320		2,971		—		19,868
Construction and Land Development		287		846		—		—		47		126		—		1,306
Commercial		694		3,156		254		224		10		106		407		4,851
Consumer		1,530		1,035		478		409		185		11		—		3,648
Total Pass	$	13,066	$	16,009	$	13,878	$	11,769	$	16,548	$	21,847	$	1,291	$	94,408
Special Mention
Residential 1-4 Family	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Real Estate		—		642		—		—		—		—		—		642
Construction and Land Development		—		—		—		—		—		—		—		—
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
Total Special Mention	$	—	$	642	$	—	$	—	$	—	$	—	$	—	$	642
Substandard
Residential 1-4 Family	$	—	$	—	$	—	$	—	$	—	$	266	$	—	$	266
Commercial Real Estate		—		—		—		—		—		656		—		656
Construction and Land Development		—		—		—		—		—		—		—		—
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
Total Substandard	$	—	$	—	$	—	$	—	$	—	$	922	$	—	$	922
Total	$	13,066	$	16,651	$	13,878	$	11,769	$	16,548	$	22,769	$	1,291	$	95,972
Current period gross charge-offs:
Residential 1-4 Family	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Real Estate		—		—		—		—		—		—		—		—
Construction and Land Development		—		—		—		—		—		—		—		—
Commercial		—		(12)		—		—		—		—		—		(12)
Consumer		—		(3)		—		—		—		—		—		(3)
	$	—	$	(15)	$	—	$	—	$	—	$	—	$	—	$	(15)

	December 31, 2023
													Revolving
													Lines of
	2023		2022		2021		2020		2019		Prior		Credit		Total
Pass
Residential 1-4 Family	$	6,760	$	9,720	$	8,273	$	15,866	$	5,981	$	14,832	$	839	$	62,271
Commercial Real Estate		3,166		4,229		3,666		1,419		1,546		2,384		—		16,410
Construction and Land Development		2,594		—		—		49		—		137		—		2,780
Commercial		3,470		360		246		47		13		134		730		5,000
Consumer		1,352		699		589		252		101		36		—		3,029
Total Pass	$	17,342	$	15,008	$	12,774	$	17,633	$	7,641	$	17,523	$	1,569	$	89,490
Special Mention
Residential 1-4 Family	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Real Estate		660		—		—		—		—		513		—		1,173
Construction and Land Development		—		—		—		—		—		—		—		—
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
Total Special Mention	$	660	$	—	$	—	$	—	$	—	$	513	$	—	$	1,173
Substandard
Residential 1-4 Family	$	—	$	—	$	—	$	—	$	40	$	531	$	—	$	571
Commercial Real Estate		—		—		—		—		—		156		—		156
Construction and Land Development		—		—		—		—		—		—		—		—
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
Total Substandard	$	—	$	—	$	—	$	—	$	40	$	687	$	—	$	727
Total	$	18,002	$	15,008	$	12,774	$	17,633	$	7,681	$	18,723	$	1,569	$	91,390
Current period gross charge-offs:
Residential 1-4 Family	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial Real Estate		—		—		—		—		—		—		—		—
Construction and Land Development		—		—		—		—		—		—		—		—
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Schedule of Bank's loan portfolio aging analysis

September 30, 2024							2024				Total
	30-59 Days		60-89 Days		90 Days and		Total Past				Loans
	Past Due		Past Due		Greater		Due		Current		Receivable
Mortgage loans on real estate:
Residential 1-4 family	$	149	$	208	$	266	$	623	$	64,378	$	65,001
Commercial		240		13		156		409		20,757		21,166
Construction and land development		—		—		—		—		1,306		1,306
Total real estate loans		389		221		422		1,032		86,441		87,473
Commercial		—		—		—		—		4,851		4,851
Consumer		28		—		—		28		3,620		3,648
Total	$	417	$	221	$	422	$	1,060	$	94,912	$	95,972

December 31, 2023							2023				Total
	30-59 Days		60-89 Days		Greater Than		Total Past				Loans
	Past Due		Past Due		90 Days		Due		Current		Receivable
Mortgage loans on real estate:
Residential 1-4 family	$	959	$	170	$	142	$	1,271	$	61,571	$	62,842
Commercial		—		—		156		156		17,583		17,739
Construction and land development		—		—		—		—		2,780		2,780
Total real estate loans		959		170		298		1,427		81,934		83,361
Commercial		15		—		—		15		4,985		5,000
Consumer		—		—		—		—		3,029		3,029
Total	$	974	$	170	$	298	$	1,442	$	89,948	$	91,390

Schedule of information regarding collateral dependent loans

	September 30, 2024				December 31, 2023
	Loan		Specific		Loan		Specific
	Balance		Allowance		Balance		Allowance
Mortgage loans on real estate:
Residential 1-4 family		266		—	$	618	$	1
Commercial		156		156		1,301		—
Construction and land development		—		—		—		—
Total real estate loans		422		156		1,919		1
Commercial		—		—		—		—
Consumer		—		—		—		—
Total	$	422	$	156	$	1,919	$	1

Schedule of nonaccrual loans

							Total		Interest		Amortized
	Nonaccrual		Nonaccrual				Nonaccrual		Income		Cost Basis
	Loans with No		Loans with an		Total		Loans at		Recognized on		of Loans 90+
	Allowance for		Allowance for		Nonaccrual		Beginning of		Nonaccrual		Days Past Due
	Credit Losses		Credit Losses		Loans		Year		Loans		Not on Nonaccrual
September 30, 2024
Residential - First Mortgage		266		—		266		177		—		—
Commercial real estate		—		156		156		156		—		—
Construction and land development		—		—		—		—		—		—
Commercial and Industrial		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total	$	266	$	156	$	422	$	333	$	—	$	—
							Total		Interest		Amortized
	Nonaccrual		Nonaccrual				Nonaccrual		Income		Cost Basis
	Loans with No		Loans with an		Total		Loans at		Recognized on		of Loans 90+
	Allowance for		Allowance for		Nonaccrual		Beginning of		Nonaccrual		Days Past Due
	Credit Losses		Credit Losses		Loans		Year		Loans		Not on Nonaccrual
December 31, 2023
Residential - First Mortgage		177		—		177		117		—		—
Commercial real estate		156		—		156		—		—		—
Construction and land development		—		—		—		—		—		—
Commercial and Industrial		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total	$	333	$	—	$	333	$	117	$	—	$	—