Loans

12 Months Ended

Dec. 31, 2024

Receivables [Abstract]

Loans

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:

	2024		2023
	(Dollars in thousands)
Residential real estate
Non-revolving residential real estate	$	445,425	$	397,409
Revolving residential real estate	21,884		18,902
Construction real estate
Commercial construction real estate	54,985		36,973
Residential construction real estate	51,202		51,662
Commercial real estate
Non-residential commercial real estate	330,010		298,148
Multi-family residential real estate	104,328		105,344
Commercial	35,175		40,448
Consumer	2,523		2,589
Municipal	110,204		76,795
Gross loans	1,155,736		1,028,270
ACL on loans	(7,680)		(6,566)
Net deferred loan costs	2,162		1,752
Net loans	$	1,150,218	$	1,023,456

Qualifying residential first mortgage loans and certain commercial real estate loans with a carrying value of $394.5 million and $343.7 million were pledged as collateral for borrowings from the FHLB under a blanket lien at December 31, 2024 and 2023, respectively.

Accrued interest receivable on loans totaled $5.2 million and $4.0 million at December 31, 2024 and December 31, 2023, respectively, and is excluded from the estimate of credit losses described in Note 7.