Commitments and Contingencies

6 Months Ended

Jun. 30, 2024

Commitments and Contingencies [Abstract]

Commitments and Contingencies

Note 7. Commitments and Contingencies

Credit-Related Financial Instruments

The Company is a party to credit-related financial instruments with off-balance-sheet risk in the normal course of business in order to meet the financing needs of its customers. These financial instruments include commitments to extend credit, standby letters of credit and commercial letters of credit. Such commitments involve, to varying degrees, elements of credit and interest rate risk in excess of the amount recognized in the Consolidated Balance Sheets.

The Company’s exposure to credit loss is represented by the contractual amount of these commitments. The Company follows the same credit policies in making such commitments as it does for on-balance-sheet instruments. Financial instruments whose contract amounts represent credit risk were outstanding as of June 30, 2024 and December 31, 2023 were as follows:

	June 30,		December 31,
(dollars in thousands)	2024		2023
Commitments to extend credit:
Home equity lines of credit	$	94,729	$	91,885
Commercial real estate, construction and development loans committed but not funded		72,861		74,218
Other lines of credit (principally commercial)		49,251		47,622
Total	$	216,841	$	213,725
Letters of credit	$	816	$	802