XML 44 R28.htm IDEA: XBRL DOCUMENT v3.25.2
LOANS (Tables)
6 Months Ended
Jun. 30, 2025
LOANS  
Schedule of net loans

    

June 30, 2025

    

December 31, 2024

(In thousands)

Unaudited

Mortgage loans on real estate:

 

  

 

  

One-to four-family first lien residential

$

96,371

$

101,236

Residential construction

 

1,026

 

1,288

Home equity loans and lines of credit

 

14,281

 

11,916

Commercial

 

69,903

 

59,505

Total mortgage loans on real estate

 

181,581

 

173,945

Commercial and industrial

 

23,207

 

23,411

Consumer loans

 

5,063

 

5,339

Total loans

 

209,851

 

202,695

Allowance for credit losses

 

(1,751)

 

(1,804)

Net deferred loan origination (fees) and costs

 

1,497

 

1,538

Net loans

$

209,597

$

202,429

Schedule of loans to customers

The following table presents the loans to customers as of June 30, 2025, based on year of origination within each credit quality indicator:

At June 30, 2025

Unaudited

(In thousands)

Revolving

Loans

Converted

Revolving

to Term

Loans

Loans

Amortized

Amortized

    

2025

    

2024

    

2023

    

2022

    

2021

    

Prior

    

Cost Basis

    

Cost Basis

    

Total

Mortgage loans on real estate:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

One-to-four-family first lien residential:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

$

854

$

2,908

$

11,076

$

17,336

$

10,727

$

53,470

$

$

$

96,371

Total

 

854

 

2,908

 

11,076

 

17,336

 

10,727

 

53,470

 

 

 

96,371

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Residential construction:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

 

757

 

 

117

 

 

152

 

 

 

1,026

Total

 

 

757

 

 

117

 

 

152

 

 

 

1,026

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Home equity loans and lines of credit:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

89

 

651

 

 

 

 

63

 

13,366

 

112

 

14,281

Total

 

89

 

651

 

 

 

 

63

 

13,366

 

112

 

14,281

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Commercial:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

13,177

 

8,998

 

12,034

 

8,127

 

6,762

 

18,062

 

 

 

67,160

Special Mention

 

 

583

 

 

 

 

 

 

 

583

Substandard

 

 

495

 

 

 

 

1,665

 

 

 

2,160

Total

 

13,177

 

10,076

 

12,034

 

8,127

 

6,762

 

19,727

 

 

 

69,903

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Commercial and Industrial:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

3,230

 

5,208

 

4,374

 

3,405

 

1,580

 

2,658

 

 

 

20,455

Special Mention

 

 

324

 

110

 

1,656

 

 

 

 

 

2,090

Substandard

 

 

662

 

 

 

 

 

 

 

662

Total

 

3,230

 

6,194

 

4,484

 

5,061

 

1,580

 

2,658

 

 

 

23,207

Current period gross write-offs

 

 

 

644

 

7

 

4

 

(2)

 

 

 

653

Consumer:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

498

 

2,034

 

865

1,054

 

250

 

268

 

93

 

1

 

5,063

Total

 

498

 

2,034

 

865

 

1,054

 

250

 

268

 

93

 

1

 

5,063

Current period gross write-offs

$

$

15

$

6

$

$

$

$

$

$

21

The following tables present the loans to customers as of December 31, 2024, based on year of origination within each credit quality indicator:

At December 31, 2024

(In thousands)

Revolving

Loans

Converted

Revolving

to Term

Loans

Loans

Amortized

Amortized

    

2024

    

2023

    

2022

    

2021

    

2020

    

Prior

    

Cost Basis

    

Cost Basis

    

Total

Mortgage loans on real estate:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

One-to-four-family first lien residential:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

$

5,633

$

12,938

$

18,451

$

11,101

$

7,929

$

45,184

$

$

$

101,236

Total

 

5,633

 

12,938

 

18,451

 

11,101

 

7,929

 

45,184

 

 

 

101,236

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Residential construction:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

1,006

 

 

120

 

 

101

 

61

 

 

 

1,288

Total

 

1,006

 

 

120

 

 

101

 

61

 

 

 

1,288

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Home equity loans and lines of credit:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

768

 

 

 

 

 

65

 

10,895

 

188

 

11,916

Total

 

768

 

 

 

 

 

65

 

10,895

 

188

 

11,916

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Commercial:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

9,609

 

12,513

 

8,375

 

6,939

 

4,434

 

15,124

 

 

 

56,994

Substandard

 

500

 

 

 

 

97

 

1,914

 

 

 

2,511

Total

 

10,109

 

12,513

 

8,375

 

6,939

 

4,531

 

17,038

 

 

 

59,505

Current period gross write-offs

 

 

 

 

 

 

 

 

 

Commercial and Industrial:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

6,145

 

5,802

 

5,975

 

1,656

 

1,502

 

1,593

 

 

 

22,673

Substandard

 

738

 

 

 

 

 

 

 

 

738

Total

 

6,883

 

5,802

 

5,975

 

1,656

 

1,502

 

1,593

 

 

 

23,411

Current period gross write-offs

 

 

31

 

 

25

 

 

22

 

 

 

78

Consumer:

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

 

  

Pass

 

2,536

 

1,038

 

1,406

 

271

 

47

 

41

 

 

 

5,339

Total

 

2,536

 

1,038

 

1,406

 

271

 

47

 

41

 

 

 

5,339

Current period gross write-offs

$

4

$

10

$

4

$

$

$

$

$

$

18

Schedule of age analysis of past due loans, segregated by class of loans

    

June 30, 2025

(Unaudited)

(In thousands)

30-59 Days

60-89 Days

90 Days

Total Past-

Total Loans

    

Past-Due

    

Past-Due

    

Past-Due

    

Due

    

Current

    

Receivable

Mortgage loans on real estate:

 

  

 

  

 

  

 

  

 

  

 

  

One-to four-family first lien residential

$

961

$

187

$

293

$

1,441

$

94,930

$

96,371

Residential construction

 

 

 

 

 

1,026

 

1,026

Home equity loans and lines of credit

 

 

 

32

 

32

 

14,249

 

14,281

Commercial

 

333

 

 

 

333

 

69,570

 

69,903

Total mortgage loans on real estate

 

1,294

 

187

 

325

 

1,806

 

179,775

 

181,581

Commercial and industrial

 

102

 

 

97

 

199

 

23,008

 

23,207

Consumer loans

 

 

15

 

1

 

16

 

5,047

 

5,063

Total loans

$

1,396

$

202

$

423

$

2,021

$

207,830

$

209,851

    

December 31, 2024

(In thousands)

30-59 Days

60-89 Days

90 Days

Total Past-

Total Loans

    

Past-Due

    

Past-Due

    

Past-Due

    

Due

    

Current

    

Receivable

Mortgage loans on real estate:

 

  

 

  

 

  

 

  

 

  

 

  

One-to four-family first lien residential

$

1,089

$

230

$

369

$

1,688

$

99,548

$

101,236

Residential construction

 

 

 

 

 

1,288

 

1,288

Home equity loans and lines of credit

 

1

 

 

32

 

33

 

11,883

 

11,916

Commercial

 

371

 

 

 

371

 

59,134

 

59,505

Total mortgage loans on real estate

 

1,461

 

230

 

401

 

2,092

 

171,853

 

173,945

Commercial and industrial

 

513

 

 

 

513

 

22,898

 

23,411

Consumer loans

 

5

 

9

 

 

14

 

5,325

 

5,339

Total loans

$

1,979

$

239

$

401

$

2,619

$

200,076

$

202,695

Schedule of nonaccrual loans, segregated by class of loan

June 30, 2025 Unaudited

(In thousands)

Nonaccrual

loans

without

related

allowance

for

Recognized

Nonaccrual

credit

interest

    

loans

    

losses

    

income

Mortgage loans on real estate:

One-to four-family first lien

 

$

369

 

$

369

$

Residential construction

 

 

 

Home equity loans and lines of credit

 

 

 

Commercial

 

43

 

43

 

Consumer loans

 

 

 

Total nonaccrual loans

 

$

412

 

$

412

$

December 31, 2024

(In thousands)

Nonaccrual

loans

without

related

allowance

for

Recognized

Nonaccrual

credit

interest

    

loans

    

losses

    

income

Mortgage loans on real estate:

One-to four-family first lien

 

$

369

 

$

369

$

Residential construction

 

 

 

Home equity loans and lines of credit

 

 

 

Commercial

 

46

 

 

Consumer loans

 

 

 

Total nonaccrual loans

 

$

415

 

$

369

$

Schedule of collateral-dependent loans

June 30, 2025 (Unaudited)

(In thousands)

    

Amortized cost

    

Collateral type

Real estate:

Residential 1-4 family

$

615

 

Residential real estate property

Home equity line of credit

 

32

 

Residential real estate property

Commercial real estate

 

14

 

Commercial real estate property

Total real estate

$

661

 

  

Commercial and industrial loans

$

47

 

Commercial business assets

Total commercial and industrial

$

47

 

  

December 31, 2024

(In thousands)

    

Amortized cost

    

Collateral type

Real estate:

 

  

 

  

Residential 1-4 family

$

620

 

Residential real estate property

Home equity line of credit

 

32

 

Residential real estate property

Total real estate

$

652

 

  

Schedule of loans modified to borrowers experiencing financial difficulty

    

Amortized Cost

    

 

Basis

% of Total Class

 

at June 30, 2025

of Financing

 

(Unaudited)

Receivable

 

Mortgage loans on real estate:

 

  

 

  

Commercial

$

485

 

0.69

%

Total

$

485

 

  

Schedule of changes in the allowance for loan losses

June 30, 2025

Unaudited

(In thousands)

Mortgage

Commercial

Loans

and

on Real

Industrial

Consumer

    

Estate

    

Loans

    

Loans

    

Unallocated

    

Total

Allowance for credit losses:

 

  

 

  

 

  

 

  

 

  

Beginning balance

$

1,071

$

372

$

144

$

217

$

1,804

Charge-offs

 

 

(655)

 

(23)

 

 

(678)

Recoveries

 

 

2

 

2

 

 

4

Provision

 

142

 

718

 

(3)

 

(236)

 

621

Ending balance

$

1,213

$

437

$

120

$

(19)

$

1,751

June 30, 2024

Unaudited

(In thousands)

Mortgage

Commercial

Loans

and

on Real

Industrial

Consumer

    

Estate

    

Loans

    

Loans

    

Unallocated

    

Total

Allowance for credit losses:

Beginning balance

 

$

1,218

 

$

325

 

$

93

 

$

409

 

$

2,045

Charge-offs

(8)

(8)

Recoveries

Provision

(111)

142

59

(75)

15

Ending balance

 

$

1,107

 

$

467

 

$

144

 

$

334

 

$

2,052

Schedule of loans to directors and officers

June 30, 

December 31, 

2025

2024

    

Unaudited`

    

    

Balance, beginning of period

$

780

$

924

Proceeds

 

250

 

Payments

 

(79)

 

(144)

Balance, end of period

$

951

$

780