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Loans and Allowance for Credit Losses (Tables)
3 Months Ended
Mar. 31, 2025
Loans and Allowance for Credit Losses  
Schedule of Classes of loans

    

March 31, 

December 31, 

2025

    

2024

Mortgage loans on real estate:

 

  

 

  

Residential 1-4 family

$

65,146

$

65,721

Commercial

 

24,735

 

21,412

Construction and land development

 

1,448

 

1,637

Total mortgage loans on real estate

 

91,329

 

88,770

Commercial loans

 

5,099

 

4,656

Consumer

 

3,817

 

3,479

 

100,245

 

96,905

Plus:

Deferred Loan Costs

76

69

Less:

 

  

 

  

Allowance for credit losses

 

745

 

700

Net loans

$

99,576

$

96,274

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

For the Three Months Ended

March 31, 2025

Mortgage Loans on Real Estate

Construction 

Residential  

and Land 

    

1-4 Family

    

Commercial

    

Development

    

Commercial

Allowance for credit losses:

Balance, beginning of period

$

271

$

339

$

13

$

60

Provision charged to expense

 

(5)

 

44

 

(2)

 

6

Losses charged off

 

 

 

 

Recoveries

 

 

 

 

Balance, end of period

$

266

$

383

$

11

$

66

Allowance for credit losses for unfunded loan commitments

Balance, beginning of period

$

2

$

7

$

6

$

2

Provision charged to expense

 

2

14

(6)

 

1

Losses charged off

Recoveries

Balance, end of period

$

4

$

21

$

$

3

    

For the Three Months Ended

March 31, 2025 (Continued)

    

Consumer

    

Total

Allowance for credit losses:

 

  

 

  

Balance, beginning of period

$

17

$

700

Provision charged to expense

 

2

 

45

Losses charged off

 

 

Recoveries

 

 

Balance, end of year

$

19

$

745

Allowance for credit losses for unfunded loan commitments

Balance, beginning of year

$

$

17

Provision charged to expense

 

 

11

Losses charged off

 

 

Recoveries

 

 

Balance, end of year

$

$

28

    

For the Three Months Ended

March 31, 2024

Mortgage Loans on Real Estate

Construction  

Residential  

and Land  

    

1-4 Family

    

Commercial

    

Development

    

Commercial

Allowance for credit losses:

Balance, beginning of period

$

247

$

332

$

15

$

65

Provision charged to expense

 

9

 

16

 

(4)

10

Losses charged off

 

 

 

 

Recoveries

 

 

 

 

Balance, end of year

$

256

$

348

$

11

$

75

Allowance for credit losses for unfunded loan commitments

Balance, beginning of year

$

2

$

10

$

8

$

2

Provision charged to expense

 

2

 

(3)

 

(6)

 

2

Losses charged off

Recoveries

Balance, end of year

$

4

$

7

$

2

$

4

    

For the Three Months Ended

March 31, 2024 (Continued)

    

Consumer

    

Total

Allowance for credit losses:

 

  

 

  

Balance, beginning of period

$

16

$

675

Provision charged to expense

 

 

31

Losses charged off

 

 

Recoveries

 

 

Balance, end of year

$

16

$

706

Allowance for credit losses for unfunded loan commitments

Balance, beginning of year

$

$

22

Provision charged to expense

 

 

(5)

Losses charged off

Recoveries

Balance, end of year

$

$

17

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 March 31, 

2025

2024

Provision for credit losses:

Loans

$

45

$

31

Unfunded loan commitments

11

(5)

Total

$

56

$

26

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

March 31, 2025

Revolving

Lines of

    

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

    

Credit

    

Total

Pass

Residential 1-4 Family

$

866

$

7,908

$

7,441

$

8,763

$

7,439

$

31,601

$

772

$

64,790

Commercial Real Estate

3,933

5,074

3,322

3,984

3,374

3,926

23,613

Construction and Land Development

 

481

802

165

1,448

Commercial

 

518

1,060

2,667

130

208

87

429

5,099

Consumer

 

772

1,446

854

275

318

152

3,817

Total Pass

$

6,089

$

15,969

$

15,086

$

13,152

$

11,339

$

35,931

$

1,201

$

98,767

Special Mention

Residential 1-4 Family

$

$

$

$

$

$

$

$

Commercial Real Estate

631

631

Construction and Land Development

 

Commercial

 

Consumer

 

Total Special Mention

$

$

$

631

$

$

$

$

$

631

Substandard

Residential 1-4 Family

$

$

$

$

$

$

356

$

$

356

Commercial Real Estate

491

491

Construction and Land Development

 

Commercial

 

Consumer

 

Total Substandard

$

$

$

$

$

$

847

$

$

847

Total

$

6,089

$

15,969

$

15,717

$

13,152

$

11,339

$

36,778

$

1,201

$

100,245

Current period gross charge-offs:

Residential 1-4 Family

$

$

$

$

$

$

$

$

Commercial Real Estate

Construction and Land Development

Commercial

Consumer

$

$

$

$

$

$

$

$

December 31, 2024

Revolving

Lines of

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Credit

    

Total

Pass

Residential 1-4 Family

$

8,124

$

7,509

$

8,960

$

7,554

$

14,686

$

17,705

$

835

$

65,373

Commercial Real Estate

5,344

3,339

4,034

3,440

1,285

2,837

20,279

Construction and Land Development

 

625

843

46

123

1,637

Commercial

 

1,086

2,742

180

215

6

93

334

4,656

Consumer

 

1,659

945

322

373

172

8

3,479

Total Pass

$

16,838

$

15,378

$

13,496

$

11,582

$

16,195

$

20,766

$

1,169

$

95,424

Special Mention

Residential 1-4 Family

$

$

$

$

$

$

$

$

Commercial Real Estate

637

637

Construction and Land Development

 

Commercial

 

Consumer

 

Total Special Mention

$

$

637

$

$

$

$

$

$

637

Substandard

Residential 1-4 Family

$

$

$

$

$

$

348

$

$

348

Commercial Real Estate

496

496

Construction and Land Development

 

Commercial

 

Consumer

 

Total Substandard

$

$

$

$

$

$

844

$

$

844

Total

$

16,838

$

16,015

$

13,496

$

11,582

$

16,195

$

21,610

$

1,169

$

96,905

Current period gross charge-offs:

Residential 1-4 Family

$

$

$

$

$

$

$

$

Commercial Real Estate

(179)

(179)

Construction and Land Development

Commercial

(13)

(13)

Consumer

(2)

(2)

$

$

(15)

$

$

$

$

(179)

$

$

(194)

Schedule of Bank's loan portfolio aging analysis

March 31, 2025

    

    

    

    

2025

    

    

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

$

372

$

$

156

$

528

$

64,618

$

65,146

Commercial

 

249

 

 

 

249

 

24,486

 

24,735

Construction and land development

 

 

 

 

 

1,448

 

1,448

Total real estate loans

 

621

 

 

156

 

777

 

90,552

 

91,329

Commercial

 

 

 

 

 

5,099

 

5,099

Consumer

 

31

 

3

 

 

34

 

3,783

 

3,817

Total

$

652

$

3

$

156

$

811

$

99,434

$

100,245

December 31, 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

$

445

$

219

$

317

$

981

$

64,740

$

65,721

Commercial

 

 

 

 

 

21,412

 

21,412

Construction and land development

 

 

 

 

 

1,637

 

1,637

Total real estate loans

 

445

 

219

 

317

 

981

 

87,789

 

88,770

Commercial

 

 

 

 

 

4,656

 

4,656

Consumer

 

46

 

 

 

46

 

3,433

 

3,479

Total

$

491

$

219

$

317

$

1,027

$

95,878

$

96,905

Schedule of information regarding collateral dependent loans

March 31, 2025

December 31, 2024

Loan

Specific

Loan

Specific

Balance

Allowance

    

Balance

    

Allowance

Mortgage loans on real estate:

Residential 1-4 family

356

$

348

$

Commercial

491

496

Construction and land development

Total real estate loans

847

844

Commercial

Consumer

Total

$

847

$

$

844

$

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

March 31, 2025

 

 

Residential - First Mortgage

356

356

348

 

 

Commercial real estate

 

 

Construction and land development

Commercial and Industrial

Consumer

Total

$

356

$

$

356

$

348

$

$

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, 2024

 

 

Residential - First Mortgage

348

348

177

 

 

Commercial real estate

156

 

 

Construction and land development

Commercial and Industrial

Consumer

Total

$

348

$

$

348

$

333

$

$