Loans Held for Investment (Tables)

12 Months Ended

Dec. 31, 2024

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Components of Loans

The components of loans were as follows at December 31, 2024 and 2023:

	December 31, 2024			December 31, 2023
	(dollars in thousands)
Residential mortgage loans (1-4 family):
Fixed	$	98,694		$	94,267
Variable		155,948			154,630
Construction		34,139			15,764
Total residential mortgage loans		288,781			264,661
Commercial loans
Real estate		241,063			206,267
Other		94,981			69,619
Total commerical loans		336,044			275,886
Consumer loans:
Home equity		106,550			98,331
Other consumer		26,690			27,740
Total consumer loans		133,240			126,071
Total loans held for investment		758,065			666,618
Less:
Undisbursed portion of mortgage loans		(161	)		(118	)
Net deferred loan costs (fees)		(1,007	)		(816	)
Allowance for credit losses		(6,244	)		(6,203	)
Total loans held for investment, net	$	750,653		$	659,481

Summary of Investment in Loans by Credit Quality Indicators by Year of Origin

Loans with a risk rating of 1 through 6 are classified as “Pass” rated credits in the following tables. Nonrated loans are also classified as “Pass.” The following table presents the Company's recorded investment in loans by credit quality indicators by year of origin as of December 31, 2024 and gross charge-offs for the year ended December 31, 2024.

	Term Loans
1-4 Family Residential	2024		2023		2022		2021		2020		Prior		Revolving Lines		Total
Pass	$	15,139	$	61,966	$	66,541	$	30,758	$	22,112	$	47,915	$	—	$	244,431
Special Mention		—		—		257		—		—		32		—		289
Substandard		—		3,179		3,254		1,128		140		2,221		—		9,922
Doubtful		—		—		—		—		—		—		—		—
Total	$	15,139	$	65,145	$	70,052	$	31,886	$	22,252	$	50,168	$	—	$	254,642
Residential Construction	2024		2023		2022		2021		2020		Prior		Revolving		Total
Pass	$	23,044	$	11,095	$	—	$	—	$	—	$	—	$	—	$	34,139
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total	$	23,044	$	11,095	$	—	$	—	$	—	$	—	$	—	$	34,139
Commercial Real Estate	2024		2023		2022		2021		2020		Prior		Revolving		Total
Pass	$	50,394	$	47,231	$	40,122	$	11,240	$	17,629	$	73,990	$	—	$	240,606
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		457		—		—		457
Doubtful		—		—		—		—		—		—		—		—
Total	$	50,394	$	47,231	$	40,122	$	11,240	$	18,086	$	73,990	$	—	$	241,063
Commercial	2024		2023		2022		2021		2020		Prior		Revolving		Total
Pass	$	39,529	$	4,011	$	6,107	$	8,062	$	5,041	$	4,138	$	23,556	$	90,444
Special Mention		—		—		1,424		—		—		188		—		1,612
Substandard		42		250		226		—		459		1,239		566		2,782
Doubtful		—		45		—		—		—		—		98		143
Total	$	39,571	$	4,306	$	7,757	$	8,062	$	5,500	$	5,565	$	24,220	$	94,981
Home Equity	2024		2023		2022		2021		2020		Prior		Revolving		Total
Pass	$	4,592	$	7,597	$	1,643	$	73	$	62	$	1,020	$	89,267	$	104,254
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		46		—		—		2		2,225		2,273
Doubtful		—		—		—		—		—		—		23		23
Total	$	4,592	$	7,597	$	1,689	$	73	$	62	$	1,022	$	91,515	$	106,550
Other Consumer	2024		2023		2022		2021		2020		Prior		Revolving		Total
Pass	$	10,209	$	9,673	$	3,628	$	1,045	$	507	$	7	$	1,235	$	26,304
Special Mention		189		—		—		—		—		—		—		189
Substandard		—		15		—		1		—		—		47		63
Doubtful		74		36		10		14		—		—		—		134
Total	$	10,472	$	9,724	$	3,638	$	1,060	$	507	$	7	$	1,282	$	26,690
All Loans	2024		2023		2022		2021		2020		Prior		Revolving		Total
Pass	$	142,907	$	141,573	$	118,041	$	51,178	$	45,351	$	127,070	$	114,058	$	740,178
Special Mention		189		-		1,681		—		—		220		-		2,090
Substandard		42		3,444		3,526		1,129		1,056		3,462		2,838		15,497
Doubtful		74		81		10		14		—		—		121		300
Total Loans	$	143,212	$	145,098	$	123,258	$	52,321	$	46,407	$	130,752	$	117,017	$	758,065
Gross charge-offs	$	—	$	123	$	374	$	45	$	178	$	21	$	920	$	1,661

Loans with a risk rating of 1 through 6 are classified as “Pass” rated credits in the following tables. Nonrated loans are also classified as “Pass.” The following table presents the Company's recorded investment in loans by credit quality indicators by year of origin as of December 31, 2023 and gross charge-offs for the year ended December 31, 2023.

	Term Loans
1-4 Family Residential	2023		2022		2021		2020		2019		Prior		Revolving Lines		Total
Pass	$	58,213	$	71,746	$	35,005	$	22,795	$	6,493	$	47,727	$	291	$	242,270
Special Mention		—		261		—		—		—		95		—		356
Substandard		808		1,767		653		328		124		2,591		—		6,271
Doubtful		—		—		—		—		—		—		—		—
Total	$	59,021	$	73,774	$	35,658	$	23,123	$	6,617	$	50,413	$	291	$	248,897
Residential Construction	2023		2022		2021		2020		2019		Prior		Revolving		Total
Pass	$	14,585	$	1,179	$	—	$	—	$	—	$	—	$	—	$	15,764
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—
Total	$	14,585	$	1,179	$	—	$	—	$	—	$	—	$	—	$	15,764
Commercial Real Estate	2023		2022		2021		2020		2019		Prior		Revolving		Total
Pass	$	42,867	$	43,365	$	11,703	$	17,491	$	14,490	$	52,597	$	12,537	$	195,050
Special Mention		—		—		—		—		—		9,394		—		9,394
Substandard		—		—		—		1,823		—		—		—		1,823
Doubtful		—		—		—		—		—		—		—		—
Total	$	42,867	$	43,365	$	11,703	$	19,314	$	14,490	$	61,991	$	12,537	$	206,267
Commercial	2023		2022		2021		2020		2019		Prior		Revolving		Total
Pass	$	9,265	$	2,120	$	5,936	$	4,457	$	769	$	1,292	$	41,555	$	65,394
Special Mention		—		—		—		286		208		—		1,281		1,775
Substandard		69		326		—		129		80		—		1,405		2,009
Doubtful		—		97		25		—		—		146		173		441
Total	$	9,334	$	2,543	$	5,961	$	4,872	$	1,057	$	1,438	$	44,414	$	69,619
Home Equity	2023		2022		2021		2020		2019		Prior		Revolving		Total
Pass	$	10,399	$	6,726	$	6,218	$	4,119	$	1,861	$	5,118	$	62,361	$	96,802
Special Mention		—		—		—		—		—		—		66		66
Substandard		—		680		—		—		175		130		441		1,426
Doubtful		—		—		—		—		—		—		37		37
Total	$	10,399	$	7,406	$	6,218	$	4,119	$	2,036	$	5,248	$	62,905	$	98,331
Other Consumer	2023		2022		2021		2020		2019		Prior		Revolving		Total
Pass	$	8,334	$	1,557	$	1,144	$	227	$	166	$	56	$	16,209	$	27,693
Special Mention		27		—		—		—		—		—		—		27
Substandard		13		—		—		—		—		—		7		20
Doubtful		—		—		—		—		—		—		—		—
Total	$	8,374	$	1,557	$	1,144	$	227	$	166	$	56	$	16,216	$	27,740
All Loans	2023		2022		2021		2020		2019		Prior		Revolving		Total
Pass	$	143,663	$	126,693	$	60,006	$	49,089	$	23,779	$	106,790	$	132,953	$	642,973
Special Mention		27		261		—		286		208		9,489		1,347		11,618
Substandard		890		2,773		653		2,280		379		2,721		1,853		11,549
Doubtful		—		97		25		—		—		146		210		478
Total Loans	$	144,580	$	129,824	$	60,684	$	51,655	$	24,366	$	119,146	$	136,363	$	666,618
Gross charge-offs	$	27	$	116	$	38	$	34	$	64	$	83	$	1,445	$	1,807

Summary of Changes in the Allowance for Credit Losses

The following table outlines the changes in the allowance for credit losses by category, the allowance for loans individually and collectively evaluated, and the balances of loans individually and collectively evaluated, for the year ended December 31, 2024:

	1-4 Family					Commercial			Other			Home		Other
	Residential			Construction		Real Estate			Commercial			Equity		Consumer			Total
						(dollars in thousands)
Allowance
Beginning balance, January 1, 2024	$	1,210		$	1	$	2,218		$	1,586		$	536	$	652		$	6,203
Charge-offs		(306	)		—		—			(1,114	)		—		(241	)		(1,661	)
Recoveries		6			2		—			118			—		46			172
Provision for Credit Loss		550			132		63			296			300		189			1,530
Reallocations		786			404		(2,024	)		323			388		123			—
Balance at end of period	$	2,246		$	539	$	257		$	1,209		$	1,224	$	769		$	6,244
Ending allowance balance for loans individually evaluated	$	477		$	—	$	—		$	283		$	146	$	122		$	1,028
Ending allowance balance for loans collectively evaluated	$	1,769		$	539	$	257		$	926		$	1,078	$	647		$	5,216
Loans Receivable
Total period-end balance	$	254,642		$	34,139	$	241,063		$	94,981		$	106,550	$	26,690		$	758,065
Balance of loans individually evaluated	$	10,350		$	—	$	1,709		$	1,928		$	2,529	$	143		$	16,659
Balance of loans collectively evaluated	$	244,292		$	34,139	$	239,354		$	93,053		$	104,021	$	26,547		$	741,406

The following table outlines the changes in the allowance for credit losses by category, the allowance for loans individually and collectively evaluated, and the balances of loans individually and collectively evaluated, for the year ended December 31, 2023:

	1-4 Family						Commercial		Other			Home			Other
	Residential			Construction			Real Estate		Commercial			Equity			Consumer			Total
							(dollars in thousands)
Allowance
Beginning balance, January 1, 2023	$	839		$	3		$	880	$	4,303		$	385		$	888		$	7,298
Charge-offs		(5	)		—			—		(1,277	)		(47	)		(478	)		(1,807	)
Recoveries		—			—			3		30			—			30			63
Provision for Credit Loss		—			—			—		649			—			—			649
Reallocations		376			(2	)		1,335		(2,119	)		198			212			—
Balance at end of year	$	1,210		$	1		$	2,218	$	1,586		$	536		$	652		$	6,203
Ending allowance balance for loans individually evaluated	$	361		$	—		$	—	$	492		$	—		$	58		$	911
Ending allowance balance for loans collectively evaluated	$	849		$	1		$	2,218	$	1,094		$	536		$	594		$	5,292
Loans Receivable
Total period-end balance	$	248,897		$	15,764		$	206,267	$	69,619		$	98,331		$	27,740		$	666,618
Balance of loans individually evaluated	$	6,173		$	—		$	—	$	1,795		$	723		$	109		$	8,800
Balance of loans collectively evaluated	$	242,724		$	15,764		$	206,267	$	67,824		$	97,608		$	27,631		$	657,818

Summary of Loan Class of Past Due and Non-accrual Loans

The following tables present a summary by loan class of past due and non-accrual loans as of December 31, 2024 and 2023 (dollars in thousands):

					Greater Than								Past Due>
	30-59 Days		60-89 Days		90 Days		Total				Total		90 Days and
	Past Due		Past Due		Past Due		Past Due		Current		Loans		Accruing
December 31, 2024
1-4 family residential	$	16,549	$	6,043	$	6,026	$	28,618	$	226,024	$	254,642	$	—
Construction		—		—		—		—		34,139		34,139		—
Commercial real estate		101		—		—		101		240,962		241,063		—
Other commercial		401		194		622		1,217		93,764		94,981		—
Home equity		2,073		787		1,217		4,077		102,473		106,550		—
Other consumer		409		80		118		607		26,083		26,690		—
Total	$	19,533	$	7,104	$	7,983	$	34,620	$	723,445	$	758,065	$	—

	December 31, 2024
	Nonaccrual Loans with		Nonaccrual Loans		Total Nonaccrual
	No Allowance		with an Allowance		Loans
1-4 family residential	$	6,128	$	4,102	$	10,230
Construction		—		—		—
Commercial real estate		—		—		—
Other commercial		484		281		765
Home equity		1,670		164		1,834
Other consumer		35		125		160
Total	$	8,317	$	4,672	$	12,989

					Greater Than								Past Due>
	30-59 Days		60-89 Days		90 Days		Total				Total		90 Days and
	Past Due		Past Due		Past Due		Past Due		Current		Loans		Accruing
December 31, 2023
1-4 family residential	$	1,820	$	1,126	$	2,858	$	5,804	$	243,093	$	248,897	$	—
Construction		—		—		—		—		15,764		15,764		—
Commercial real estate		—		—		—		—		206,267		206,267		—
Other commercial		689		79		1,007		1,775		67,844		69,619		—
Home equity		1,135		593		396		2,124		96,207		98,331		—
Other consumer		273		171		5		449		27,291		27,740		—
Total	$	3,917	$	1,969	$	4,266	$	10,152	$	656,466	$	666,618	$	—

	December 31, 2023
	Nonaccrual Loans with		Nonaccrual Loans		Total Nonaccrual
	No Allowance		with an Allowance		Loans
1-4 family residential	$	2,226	$	3,108	$	5,334
Construction		—		—		—
Commercial real estate		426		—		426
Other commercial		422		892		1,314
Home equity		561		—		561
Other consumer		9		21		30
Total	$	3,644	$	4,021	$	7,665