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Allowance for Credit Losses on Loans and Off-Balance Sheet Credit Exposures (Tables)
 12 Months Ended
Dec. 31, 2023
Credit Loss [Abstract]  
Schedule Of Allowance For Loan Losses, By Class
Changes in the ACL on loans, by class of loans, for the year ended December 31, 2023 were as follows:
December 31, 2023Balance, December 31, 2022Impact of Adoption of ASU No. 2016-13Charge-OffsRecoveriesCredit Loss Expense (Benefit)Balance, December 31, 2023
(Dollars in thousands)
Non-revolving residential real estate$2,294 $(270)$— $1 $336 $2,361 
Revolving residential real estate123 25 — — $11 159 
Residential real estate2,417 (245)— 1 347 2,520 
Commercial construction real estate611 982 — — (558)1,035 
Residential construction real estate421 (290)— — 32 163 
Construction real estate1,032 692 — — (526)1,198 
Non-residential commercial real estate2,931 (757)— — 8 2,182 
Multi-family residential real estate1,004 (780)— — 20 244 
Commercial real estate3,935 (1,537)— — 28 2,426 
Commercial301 191 — — (140)352 
Consumer10 (5)(8)3 5 5 
Municipal95 (42)— — 12 65 
Unallocated549 (549)— — — — 
Total$8,339 $(1,495)$(8)$4 $(274)$6,566 

Changes in the ACL on loans, by class of loans under the incurred loss methodology, for the year ended December 31, 2022 were as follows:
December 31, 2022Balance, December 31, 2021Charge-OffsRecoveriesCredit Loss Expense (Benefit)Balance, December 31, 2022
(Dollars in thousands)
Residential real estate$2,068 $— $— $349 $2,417 
Construction real estate837 — — 195 1,032 
Commercial real estate4,122 — — (187)3,935 
Commercial275 (1)2 25 301 
Consumer11 (3)5 (3)10 
Municipal86 — — 9 95 
Unallocated937 — — (388)549 
Total$8,336 $(4)$7 $— $8,339 
Schedule of Fair Value, off-Balance-Sheet Risks The Company's activity in the ACL on off-balance sheet credit exposures for the year ended December 31, 2023 was as follows:
2023
ACL on Off-Balance Sheet Credit Exposures(Dollars in thousands)
Balance, December 31, 2022
$— 
Impact of adoption of ASU No. 2016-131,458 
Credit loss benefit(225)
Balance, December 31, 2023$1,233 
The following table shows financial instruments outstanding whose contract amount represents credit risk at December 31:
 Contract or
Notional Amount
 20232022
(Dollars in thousands)
Commitments to originate loans$35,193 $39,217 
Unused lines of credit192,104 185,539 
Standby and commercial letters of credit1,557 1,762 
Credit card arrangements157 241 
MPF credit enhancement obligation, net (See Note 19)744 396 
Commitment to purchase investment in a real estate limited partnership— 3,000 
        Total$229,755 $230,155 
Schedule Of Financing Receivable Credit Quality Indicators
The following table summarizes the Company's loans by year of origination and by loan ratings applied by management to the Company's loans by class as of December 31, 2023:
20232022202120202019PriorRevolvingTotal
Residential Real Estate(Dollars in thousands)
Pass$84,211 $112,215 $83,137 $29,704 $8,991 $53,021 $— $371,279 
Satisfactory/Monitor4,362 7,038 5,671 2,280 386 5,873 — 25,610 
Substandard— — — 14 — 506 — 520 
Non-revolving residential real estate88,573 119,253 88,808 31,998 9,377 59,400 — 397,409 
Pass— — — — — — 17,133 17,133 
Satisfactory/Monitor— — — — — — 1,724 1,724 
Substandard— — — — — — 45 45 
Revolving residential real estate— — — — — — 18,902 18,902 
Construction Real Estate
Pass3,736 5,767 2,736 616 437 873 — 14,165 
Satisfactory/Monitor10,312 3,673 8,352 355 — 116 — 22,808 
Substandard— — — — — — — — 
Commercial construction real estate14,048 9,440 11,088 971 437 989 — 36,973 
Pass24,496 17,904 498 — — 123 — 43,021 
Satisfactory/Monitor3,978 2,114 568 1,981 — — — 8,641 
Substandard— — — — — — — — 
Residential construction real estate28,474 20,018 1,066 1,981 — 123 — 51,662 
Commercial Real Estate
Pass5,977 44,428 34,562 18,327 23,650 57,197 16,629 200,770 
Satisfactory/Monitor17,908 24,563 13,819 5,552 6,172 23,521 3,486 95,021 
Substandard— — — 1,773 — 516 68 2,357 
Non-residential commercial real estate23,885 68,991 48,381 25,652 29,822 81,234 20,183 298,148 
Pass250 5,364 10,208 2,061 8,226 34,993 — 61,102 
Satisfactory/Monitor841 12,485 11,863 5,664 9,933 2,126 — 42,912 
Substandard— — — — — 1,330 — 1,330 
Multi-family residential real estate1,091 17,849 22,071 7,725 18,159 38,449 — 105,344 
Pass1,958 6,394 2,125 671 2,849 7,755 4,992 26,744 
Satisfactory/Monitor1,914 1,243 2,350 467 132 6,717 648 13,471 
Substandard— — — — — 4 229 233 
Commercial3,872 7,637 4,475 1,138 2,981 14,476 5,869 40,448 
Pass1,566 342 131 98 229 175 28 2,569 
Satisfactory/Monitor20 — — — — — — 20 
Substandard— — — — — — — — 
Consumer1,586 342 131 98 229 175 28 2,589 
Pass66,396 2,942 986 1,931 130 4,410 — 76,795 
Satisfactory/Monitor— — — — — — — — 
Substandard— — — — — — — — 
Municipal66,396 2,942 986 1,931 130 4,410 — 76,795 
Total Loans$227,925 $246,472 $177,006 $71,494 $61,135 $199,256 $44,982 $1,028,270 
The following table summarizes the loan ratings applied by management to the Company's loans by class, under the incurred loss methodology, as of December 31, 2022:
December 31, 2022Residential Real EstateConstruction Real EstateCommercial Real EstateCommercialConsumerMunicipalTotal
(Dollars in thousands)
Pass$328,885 $47,356 $258,175 $36,338 $2,197 $87,980 $760,931 
Satisfactory/Monitor21,429 49,206 111,077 4,368 7 — 186,087 
Substandard2,119 58 8,695 267 — — 11,139 
Total$352,433 $96,620 $377,947 $40,973 $2,204 $87,980 $958,157 
Schedule of Financing Receivable, Nonaccrual
A summary of current and past due loans as of December 31, 2023 follows:
December 31, 202330-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(Dollars in thousands)
Residential real estate
Non-revolving residential real estate$2,015 $312 $162 $2,489 $394,920 $397,409 
Revolving residential real estate— — 17 17 18,885 18,902 
Construction real estate
Commercial construction real estate17 — — 17 36,956 36,973 
Residential construction real estate— — — — 51,662 51,662 
Commercial real estate
Non-residential commercial real estate197 — — 197 297,951 298,148 
Multi-family residential real estate1,058 — — 1,058 104,286 105,344 
Commercial4 — — 4 40,444 40,448 
Consumer14 — — 14 2,575 2,589 
Municipal— — — — 76,795 76,795 
Total$3,305 $312 $179 $3,796 $1,024,474 $1,028,270 

A summary of current and past due loans as of December 31, 2022, under the incurred loss methodology, follows:
December 31, 202230-59 Days60-89 Days90 Days and OverTotal Past DueCurrentTotal
(Dollars in thousands)
Residential real estate$1,724 $79 $289 $2,092 $350,341 $352,433 
Construction real estate535 — — 535 96,085 96,620 
Commercial real estate515 2,087 34 2,636 375,311 377,947 
Commercial7 160 — 167 40,806 40,973 
Consumer7 — — 7 2,197 2,204 
Municipal— — — — 87,980 87,980 
Total$2,788 $2,326 $323 $5,437 $952,720 $958,157 
A summary of nonaccrual loans as of December 31, 2023 follows:
December 31, 2023NonaccrualNonaccrual With No Allowance for Credit Losses90 Days and Over and Accruing
Residential real estate(Dollars in thousands)
Non-revolving residential real estate$— $— $162 
Revolving residential real estate17 — — 
Commercial real estate
Non-residential commercial real estate1,841 1,841 — 
Total$1,858 $1,841 $162 

A summary of nonaccrual loans as of December 31, 2022, under the incurred loss methodology, follows:
December 31, 2022NonaccrualNonaccrual With No Allowance for Credit Losses90 Days and Over and Accruing
(Dollars in thousands)
Residential real estate$103 $— $186 
Construction real estate6 6 — 
Commercial real estate2,102 — — 
Total$2,211 $6 $186 
Schedule Of Composition of Net Loans
The composition of Net loans at December 31, by regulatory call report code segmentation based on underlying collateral or purpose for certain loan types, was as follows:
20232022
(Dollars in thousands)
Residential real estate
Non-revolving residential real estate$397,409 $335,470 
Revolving residential real estate18,902 16,963 
Construction real estate
Commercial construction real estate36,973 56,501 
Residential construction real estate51,662 40,119 
Commercial real estate
Non-residential commercial real estate298,148 282,397 
Multi-family residential real estate105,344 95,550 
Commercial40,448 40,973 
Consumer2,589 2,204 
Municipal76,795 87,980 
    Gross loans1,028,270 958,157 
ACL on loans(6,566)(8,339)
Net deferred loan costs1,752 1,336 
    Net loans$1,023,456 $951,154 
The following table presents collateral dependent loans to borrowers experiencing financial difficulty by loan class and collateral type as of the balance sheet dates:
December 31, 2023December 31, 2022
Real EstateReal Estate
(Dollars in thousands)
Non-residential commercial real estate$1,841 $2,068 
Schedule Of Impaired Financing Receivables
The following table provides information with respect to impaired loans by class of loan as of and for year ended December 31, 2022, prior to the adoption of CECL:
December 31, 2022For The Year Ended December 31, 2022
Recorded Investment
(1)		Principal Balance
(1)		Related AllowanceAverage Recorded InvestmentInterest Income Recognized
(Dollars in thousands)
Residential real estate$190 $200 $21 
Commercial real estate2,068 2,068 9 
With an allowance recorded2,258 2,268 30 
Residential real estate1,283 1,787 — 
Construction real estate58 83 — 
Commercial real estate5,865 6,403 — 
Commercial7 7 — 
With no allowance recorded7,213 8,280 — 
Residential real estate1,473 1,987 21 $1,570 $101 
Construction real estate58 83 — 116 27 
Commercial real estate7,933 8,471 9 5,822 185 
Commercial7 7 — 8 1 
Total$9,471 $10,548 $30 $7,516 $314 
____________________
(1)Does not reflect government guaranties on impaired loans as of December 31, 2022 totaling $423 thousand.
Schedule of Financing Receivable, Modified The following tables summarize loan modifications to borrowers experiencing financial difficulty by loan class, type of modification and the financial effect of the modifications as of and for the year ended December 31, 2023:
Interest Rate Reduction
Amortized Cost Basis% of Loan ClassFinancial Effect
(Dollars in thousands)
Non-residential commercial real estate$398 0.13 %
Reduced weighted average contractual interest rate from 8.75% to 6.85%
Multi-family residential real estate440 0.42 %
Reduced weighted average contractual interest rate from 9.25% to 7.75%

Payment Delay
Amortized Cost Basis% of Loan ClassFinancial Effect
(Dollars in thousands)
Non-residential commercial real estate$3,383 1.13 %
Modification allowed for 7 months of interest only payments with remaining balances due at maturity.
The following table presents the performance of loans as of December 31, 2023 that have been modified in the last twelve months:
December 31, 2023CurrentPast Due
30-89 Days		Past Due 90 Days and Over
(Dollars in thousands)
Non-residential commercial real estate$3,781 $— $— 
Multi-family residential real estate440 — —