Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

Loans and Allowance for Credit Losses

Schedule of categories of loans

	March 31,		December 31,
	2024		2023
	(In thousands)
Commercial and Industrial	$	90,227	$	91,294
Commercial real estate		288,886		291,859
Residential real estate		92,712		93,364
Consumer loans		8,482		6,719
Total gross loans		480,307		483,236
Less allowance for credit losses		(3,870)		(3,918)
Total loans	$	476,437	$	479,318

Schedule of allowance for Credit Losses and Recorded Investment in Loans

	March 31, 2024
			Commercial
	Commercial and Industrial		Real Estate		Residential		Installment		Total
	(In thousands)
Allowance for credit losses:
Balance, beginning of period	$	573	$	1,408	$	1,843	$	94	$	3,918
Provision for credit loss expense		15		(31)		(60)		76		—
Losses charged off		—		—		—		(57)		(57)
Recoveries		1		—		—		8		9
Balance, end of period	$	589	$	1,377	$	1,783	$	121	$	3,870
Ending balance: individually evaluated for credit losses	$	75	$	—	$	—	$	—	$	75
Ending balance: collectively evaluated for credit losses	$	514	$	1,377	$	1,783	$	121	$	3,795
Loans:
Ending balance: individually evaluated for credit losses	$	141	$	8	$	235	$	—	$	384
Ending balance: collectively evaluated for credit losses	$	90,086	$	288,878	$	92,477	$	8,482	$	479,923

	March 31, 2023
			Commercial
	Commercial and Industrial		Real Estate		Residential		Installment		Total
	(In thousands)
Allowance for credit losses:
Balance, beginning of period	$	215	$	815	$	816	$	206	$	2,052
Impact of adopting ASC 326		755		388		1,379		(103)		2,419
Provision for credit loss expense		15		(1)		(39)		25		—
Losses charged off		—		—		—		(29)		(29)
Recoveries		5		—		—		5		10
Balance, end of period	$	990	$	1,202	$	2,156	$	104	$	4,452
Ending balance: individually evaluated for credit losses	$	—	$	—	$	—	$	—	$	—
Ending balance: collectively evaluated for credit losses	$	990	$	1,202	$	2,156	$	104	$	4,452
Loans:
Ending balance: individually evaluated for credit losses	$	14	$	9	$	—	$	—	$	23
Ending balance: collectively evaluated for losses	$	88,506	$	275,433	$	93,386	$	6,340	$	463,665

			December 31, 2023
			Commercial
	Commercial and Industrial		Real Estate		Residential		Installment		Total
	(In thousands)
Allowance for credit losses:
Ending balance: individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—
Ending balance: collectively evaluated for impairment	$	573	$	1,408	$	1,843	$	94	$	3,918
Loans:
Ending balance: individually evaluated for impairment	$	—	$	8	$	318	$	—	$	326
Ending balance: collectively evaluated for impairment	$	91,294	$	291,851	$	93,046	$	6,719	$	481,910

Schedule of portfolio quality indicators

													Revolving		Revolving
													Loans		Loans
													Amortized		Converted
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		to Term		Total
Commercial and Industrial
Risk Rating
Pass	$	4,680	$	20,578	$	13,995	$	11,901	$	12,920	$	10,280	$	14,447	$	—	$	88,801
Special Mention		—		—		26		—		—		138		1,121		—		1,285
Substandard		—		141		—		—		—		—		—		—		141
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	4,680	$	20,719	$	14,021	$	11,901	$	12,920	$	10,418	$	15,568	$	—	$	90,227
Commercial and Industrial
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate
Risk Rating
Pass	$	1,597	$	37,728	$	36,617	$	47,995	$	32,776	$	79,510	$	45,246	$	—	$	281,469
Special Mention		—		—		—		242		2,034		4,108		1,025		—		7,409
Substandard		—		—		—		—		8		—		—		—		8
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	1,597	$	37,728	$	36,617	$	48,237	$	34,801	$	83,618	$	46,271	$	—	$	288,886
Commercial real estate
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total
Pass	$	6,277	$	58,306	$	50,612	$	59,896	$	45,696	$	89,790	$	59,693	$	—	$	370,270
Special Mention		—		—		26		242		2,034		4,246		2,146		—		8,694
Substandard		—		141		—		—		8		—		—		—		149
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	6,277	$	58,447	$	50,638	$	60,138	$	47,738	$	94,036	$	61,839	$	—	$	379,113
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

													Revolving		Revolving
													Loans		Loans
													Amortized		Converted
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		to Term		Total
Residential Real Estate
Payment Performance
Performing	$	1,198	$	12,063	$	18,064	$	16,066	$	18,828	$	26,098	$	—	$	—	$	92,317
Nonperforming		—		—		—		—		36		359		—		—		395
Total	$	1,198	$	12,063	$	18,064	$	16,066	$	18,864	$	26,457	$	—	$	—	$	92,712
Residential real estate
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Consumer
Payment Performance
Performing	$	2,486	$	2,056	$	1,212	$	565	$	417	$	1,377	$	369	$	—	$	8,482
Nonperforming		—		—		—		—		—		—		—		—		—
Total	$	2,486	$	2,056	$	1,212	$	565	$	417	$	1,377	$	369	$	—	$	8,482
Consumer
Current period gross charge-offs	$	28	$	29	$	—	$	—	$	—	$	—	$	—	$	—	$	57
Total
Payment Performance
Performing	$	3,684	$	14,119	$	19,276	$	16,631	$	19,245	$	27,475	$	369	$	—	$	100,799
Nonperforming		—		—		—		—		36		359		—		—		395
Total	$	3,684	$	14,119	$	19,277	$	16,631	$	19,281	$	27,834	$	369	$	—	$	101,194

													Revolving		Revolving
													Loans		Loans
													Amortized		Converted
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		to Term		Total
Commercial and industrial
Risk Rating
Pass	$	21,847	$	14,723	$	13,067	$	14,042	$	6,017	$	5,292	$	15,019	$	—	$	90,007
Special Mention		—		26		—		—		—		128		1,133		—		1,287
Substandard		—		—		—		—		—		—		—		—		—
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	21,847	$	14,752	$	13,067	$	14,042	$	6,017	$	5,459	$	16,152	$	—	$	91,294
Commercial and industrial
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Commercial real estate
Risk Rating
Pass	$	29,246	$	35,721	$	48,569	$	34,671	$	26,562	$	57,441	$	55,141	$	—	$	287,351
Special Mention		—		—		242		2,050		—		2,121		—		—		4,413
Substandard		—		—		—		—		—		95		—		—		95
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	29,246	$	35,721	$	48,811	$	36,721	$	26,562	$	59,657	$	55,141	$	—	$	291,859
Commercial real estate
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Total
Pass	$	51,093	$	50,444	$	61,636	$	48,713	$	32,579	$	62,733	$	70,160	$	—	$	377,358
Special Mention		—		26		242		2,050		—		2,249		1,133		—		5,700
Substandard		—		—		—		—		—		95		—		—		95
Doubtful		—		—		—		—		—		—		—		—		—
Total	$	51,093	$	50,470	$	62,878	$	50,763	$	32,579	$	65,077	$	71,293	$	—	$	383,153
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

															Revolving		Revolving
															Loans		Loans
															Amortized		Converted
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		to Term		Total
Residential Real Estate
Payment Performance
Performing	$	12,036	$	18,297	$	16,343	$	19,476	$	5,687	$	21,046	$	—	$	—	$	92,885
Nonperforming		—		—		—		38		—		441		—		—		479
Total	$	12,036	$	18,297	$	16,343	$	19,514	$	5,687	$	21,487	$	—	$	—	$	93,364
Residential real estate
Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Consumer
Payment Performance
Performing	$	2,484	$	1,396	$	674	$	456	$	385	$	953	$	371	$	—	$	6,719
Nonperforming		—		—		—		—		—		—		—		—		—
Total	$	2,484	$	1,396	$	674	$	456	$	385	$	953	$	371	$	—	$	6,719
Consumer
Current period gross charge-offs	$	138	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	138
Total
Payment Performance
Performing	$	14,520	$	19,693	$	17,017	$	19,932	$	6,072	$	21,999	$	371	$	—	$	99,604
Nonperforming		—		—		—		38		—-		441		—		—		479
Total	$	14,520	$	19,693	$	17,017	$	19,970	$	6,072	$	24,440	$	371	$	—	$	100,083
Current period gross charge-offs	$	138	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	138

Schedule of loan portfolio aging analysis

Loan Portfolio Aging Analysis

As of March 31, 2024

	30-59 Days		60‑89 Days		Greater
	Past Due		Past Due		Than 90 Days				Total Past
	and		and		and				Due and				Total Loans
	Accruing		Accruing		Accruing		Non Accrual		Non Accrual		Current		Receivable
	(In thousands)
Commercial and Industrial	$	135	$	66	$	165	$	75	$	441	$	89,786	$	90,227
Commercial real estate		—		—		242		7		249		288,637		288,886
Residential		266		68		—		395		729		91,983		92,712
Installment		3		8		—		—		11		8,471		8,482
Total	$	404	$	142	$	407	$	477	$	1,430	$	478,877	$	480,307

Loan Portfolio Aging Analysis

As of December 31, 2023

	30‑59 Days		60‑89 Days		Greater
	Past Due		Past Due		Than 90 Days				Total Past
	and		and		and				Due and				Total Loans
	Accruing		Accruing		Accruing		Non Accrual		Non Accrual		Current		Receivable
	(In thousands)
Commercial and Insustrial	$	10	$	48	$	154	$	—	$	212	$	91,082	$	91,294
Commercial real estate		—		242		—		8		250		291,609		291,859
Residential		201		—		—		479		680		92,684		93,364
Installment		5		—		—		—		5		6,714		6,719
Total	$	216	$	290	$	154	$	487	$	1,147	$	482,089	$	483,236

Schedule of amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest

							Loans Past
							Due Over 90 Days		Total
	Nonaccrual with no ACL		Nonaccrual with ACL		Total Nonaccrual		Still Accruing		Nonperforming
	(In thousands)
Commercial and Industrial	$	—	$	75	$	75	$	165	$	240
Commercial real estate		7		—		7		242		249
Residential		395		—		395		—		395
Installment		—		—		—		—		—
Total	$	402	$	75	$	477	$	407	$	884

							Loans Past
							Due Over 90 Days		Total
	Nonaccrual with no ACL		Nonaccrual with ACL		Total Nonaccrual		Still Accruing		Nonperforming
	(In thousands)
Commercial and Industrial	$	—	$	—	$	—	$	154	$	154
Commercial real estate		8		—		8		—		8
Residential		479		—		479		—		479
Consumer		—		—		—		—		—
Total	$	487	$	—	$	487	$	154	$	641