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Loans and the Allowance for Credit Losses on Loans
 9 Months Ended
Sep. 30, 2024
Loans and the Allowance for Credit Losses on Loans [Abstract]  
Loans and the Allowance for Credit Losses on Loans
Note 3. Loans and the Allowance for Credit Losses on Loans


The following is a summary of the balances in each class of the Company’s portfolio of loans held for investment as of the dates indicated:


   
September 30,
    
December 31,
  
(dollars in thousands)
  
2024
    
2023
  
Mortgage loans on real estate:
            
Residential 1-4 family
  
$
183,091
    
$
188,517
  
Commercial - owner occupied
    
133,991
      
156,466
  
Commercial - non-owner occupied
    
304,331
      
285,250
  
Multifamily
    
39,232
      
29,207
  
Construction and land development
    
90,555
      
107,179
  
Second mortgages
    
10,428
      
10,148
  
Equity lines of credit
    
59,901
      
55,981
  
Total mortgage loans on real estate
    
821,529
      
832,748
  
Commercial and industrial loans
    
51,947
      
64,112
  
Consumer automobile loans
    
130,210
      
160,437
  
Other consumer loans
    
18,500
      
19,718
  
Other  (1)
    
3,526
      
3,237
  
Total loans, net of deferred fees (2)
    
1,025,712
      
1,080,252
  
Less:  Allowance for credit losses on loans
    
11,700
      
12,206
  
Loans, net of allowance and deferred fees (2)
  
$
1,014,012
    
$
1,068,046
  

(1)
Overdrawn accounts are reclassified as loans and included in the Other category in the table above.  Overdrawn deposit accounts totaled $425 thousand and $244 thousand at September 30, 2024 and December 31, 2023, respectively.
(2)
Net deferred loan fees totaled $1.0 million on September 30, 2024 and $1.2 million on  December 31, 2023.

All classes of loans are considered past due if the required principal and interest payments have not been received as of the date such payments were due. Interest and fees continue to accrue on past due loans until the date the loan is placed in nonaccrual status, if applicable. Any accrued interest receivable on loans placed on nonaccrual status is reversed by an adjustment to interest income. The following table includes an aging analysis of the recorded investment in past due loans as of the dates indicated. Also included in the table below are loans that are 90 days or more past due as to interest and principal and still accruing interest, because they are well-secured and in the process of collection. The following tables show the aging of the Company’s loan portfolio, by class, as of September 30, 2024 and December 31, 2023.


Age Analysis of Past Due Loans as of September 30, 2024


(dollars in thousands)
  
30 - 59 Days
Past Due
    
60 - 89 Days
Past Due
    
90 or More
Days Past
Due and still
Accruing
    
Nonaccrual(2)
    
Total Current
Loans (1)
    
Total
Loans
  
Mortgage loans on real estate:
                                    
Residential 1-4 family
  
$
-
    
$
-
    
$
-
    
$
41
    
$
183,050
    
$
183,091
  
Commercial - owner occupied
    
-
      
-
      
374
      
-
      
133,617
      
133,991
  
Commercial - non-owner occupied
    
11,751
      
185
      
-
      
-
      
292,395
      
304,331
  
Multifamily
    
-
      
-
      
-
      
-
      
39,232
      
39,232
  
Construction and land development
    
-
      
-
      
-
      
-
      
90,555
      
90,555
  
Second mortgages
    
-
      
-
      
19
      
-
      
10,409
      
10,428
  
Equity lines of credit
    
117
      
99
      
-
      
44
      
59,641
      
59,901
  
Total mortgage loans on real estate
  
$
11,868
    
$
284
    
$
393
    
$
85
    
$
808,899
    
$
821,529
  
Commercial and industrial loans
    
724
      
749
      
86
      
-
      
50,388
      
51,947
  
Consumer automobile loans
    
2,355
      
466
      
336
      
-
      
127,053
      
130,210
  
Other consumer loans
    
37
      
286
      
94
      
-
      
18,083
      
18,500
  
Other
    
28
      
6
      
-
      
-
      
3,492
      
3,526
  
Total
  
$
15,012
    
$
1,791
    
$
909
    
$
85
    
$
1,007,915
    
$
1,025,712
  

Age Analysis of Past Due Loans as of December 31, 2023

(dollars in thousands)
  
30 - 59 Days
Past Due
    
60 - 89 Days
Past Due
    
90 or More
Days Past
Due and still
Accruing
    
Nonaccrual(2)
    
Total Current
Loans (1)
    
Total
Loans
  
Mortgage loans on real estate:
                                    
Residential 1-4 family
  
$
1,194
    
$
-
    
$
368
    
$
142
    
$
186,813
    
$
188,517
  
Commercial - owner occupied
    
100
      
-
      
322
      
-
      
156,044
      
156,466
  
Commercial - non-owner occupied
    
-
      
896
      
-
      
-
      
284,354
      
285,250
  
Multifamily
    
-
      
-
      
-
      
-
      
29,207
      
29,207
  
Construction and land development
    
-
      
-
      
-
      
-
      
107,179
      
107,179
  
Second mortgages
    
160
      
6
      
-
      
-
      
9,982
      
10,148
  
Equity lines of credit
    
205
      
-
      
-
      
46
      
55,730
      
55,981
  
Total mortgage loans on real estate
  
$
1,659
    
$
902
    
$
690
    
$
188
    
$
829,309
    
$
832,748
  
Commercial and industrial loans
    
527
      
427
      
306
      
-
      
62,852
      
64,112
  
Consumer automobile loans
    
3,254
      
706
      
661
      
-
      
155,816
      
160,437
  
Other consumer loans
    
634
      
264
      
123
      
-
      
18,697
      
19,718
  
Other
    
29
      
-
      
-
      
-
      
3,208
      
3,237
  
Total
  
$
6,103
    
$
2,299
    
$
1,780
    
$
188
    
$
1,069,882
    
$
1,080,252
  

(1)
 For purposes of this table, Total Current Loans includes loans that are 1 - 29 days past due.
(2)
 For purposes of this table, if a loan is past due and on nonaccrual, it is included in the nonaccrual column and not also in its respective past due column.


The following table shows the Company’s amortized cost basis of loans on nonaccrual status as of September 30, 2024 and December 31, 2023.


   
Nonaccrual
         Nonaccrual with no ACLL
  
(dollars in thousands)
  
September 30, 2024
    
December 31, 2023
      September 30, 2024      December 31, 2023  
Mortgage loans on real estate:
                        
Residential 1-4 family
  
$
41
    
$
142
     $ 41     $ -  
Commercial - non-owner occupied
    -       -       -       -  
Second mortgages
    -       -       -       -  
Equity lines of credit
    
44
      
46
       -       -  
Total mortgage loans on real estate
    
85
      
188
       41       -  
Commercial and industrial loans
    
-
      
-
       -       -  
Consumer automobile loans
    
-
      
-
       -       -  
Other consumer loans
     -       -       -       -  
Total
  
$
85
    
$
188
       41       -  

The Company’s loan portfolio may include certain loans modified, where economic concessions have been granted to borrowers who are experiencing financial difficulties. These concessions typically result from the Company’s loss mitigation activities and could include reduction in the interest rate below current market rates for borrowers with similar risk profiles, payment extensions, forgiveness of principal, forbearance or other actions intended to maximize collection. The Company closely monitors the performance of modified loans to understand the effectiveness of modification efforts. Upon the determination that all or a portion of a modified loan is uncollectible, that amount is charged against the ACL. The Company did not grant any such modifications during the three and nine months ended September 30, 2024 and September 30, 2023.


Allowance for Credit Losses on Loans


ACLL is a material estimate for the Company. The Company estimates its ACLL on a quarterly basis. The Company models the ACLL using two primary segments, commercial and consumer. Within each segment, loan classes are further identified based on similar risk characteristics. The Company has identified the following classes within each segment:


 •
Commercial: commercial and industrial, real estate - construction and land development, real estate – commercial (owner occupied and non-owner occupied), and other loans

•
Consumer: real estate – mortgage, and consumer loans

Each portfolio class has risk characteristics as follows:


 •
Commercial and industrial: Commercial and industrial loans carry risks associated with the successful operation of a business or project, in addition to other risks associated with the ownership of a business. The repayment of these loans may be dependent upon the profitability and cash flows of the business. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time and cannot be appraised with as much precision.

•
Real estate - construction and land development: Construction loans carry risks that the project will not be finished according to schedule, the project will not be finished according to budget and the value of the collateral may at any point in time be less than the principal amount of the loan. Construction loans also bear the risk that the general contractor, who may or may not be the loan customer, may be unable to finish the construction project as planned because of financial pressure unrelated to the project.

•
Real estate – commercial (owner occupied and non-owner occupied): Commercial real estate loans carry risks associated with the successful operation of a business if owner occupied. If non-owner occupied, the repayment of these loans may be dependent upon the profitability and cash flow from rent receipts.

•
Real estate - mortgage: Residential mortgage loans and equity lines of credit carry risks associated with the continued credit-worthiness of the borrower and changes in the value of the collateral.

•
Consumer loans: Consumer loans carry risks associated with the continued credit-worthiness of the borrowers and the value of the collateral. Consumer loans are more likely than real estate loans to be immediately adversely affected by job loss, divorce, illness, or personal bankruptcy.

•
Other loans: Other loans are loans to mortgage companies, loans for purchasing or carrying securities, and loans to insurance, investment, and finance companies. These loans carry risks associated with the successful operation of a business. In addition, there is risk associated with the value of collateral other than real estate which may depreciate over time, depend on interest rates, or fluctuate in active trading markets.


The following tables presents the activity in the ACLL by portfolio class for the nine months ended September 30, 2024 and September 30, 2023.



Allowance for Credit Losses and Recorded Investment in Loans
For the Nine Months Ended September 30, 2024  
(dollars in thousands)
  
Commercial
and Industrial
    
Real Estate
Construction
and Land
Development
    
Real Estate -
Mortgage (1)
    
Real Estate -
Commercial (2)
    
Consumer (3)
    
Other
    
Unallocated
    
Total
  
Allowance for credit losses on loans:
                                            
Balance, beginning
  
$
573
    
$
982
    
$
2,904
    
$
5,742
    
$
1,827
    
$
178
    
$
-
    
$
12,206
  
Charge-offs
    
(163
)
    
-
      
-
      
-
      
(1,198
)
    
(165
)
    
-
      
(1,526
)
Recoveries
    
8
      
-
      
26
      
12
      
324
      
39
      
-
      
409
  
Provision for (recovery of) loan losses
    
24
      
(129
)
    
(29
)
    
(160
)
    
729
      
176
      
-
      
611
  
Ending Balance
  
$
442
    
$
853
    
$
2,901
    
$
5,594
    
$
1,682
    
$
228
    
$
-
    
$
11,700
  

For the Nine Months Ended September 30, 2023
(dollars in thousands)
  
Commercial
and Industrial
    
Real Estate
Construction
and Land
Development
    
Real Estate -
Mortgage (1)
    
Real Estate -
Commercial (2)
    
Consumer (3)
    
Other
    
Unallocated
    
Total
  
Allowance for credit losses on loans:
                                                
Balance, beginning
  
$
673
    
$
552
    
$
2,575
    
$
4,499
    
$
2,065
    
$
156
    
$
6
    
$
10,526
  
Day 1 impact of adoption of CECL
     (11 )     19       87       1,048       (365 )     (137 )     -       641  
Charge-offs
    
(159
)
    
-
      
-
      
-
      
(813
)
    
(228
)
    
-
      
(1,200
)
Recoveries
    
64
      
-
      
28
      
-
      
393
      
41
      
-
      
526
  
Provision for (recovery of) loan losses
    
78
      
258
      
192
      
244
      
270
      
315
      
(6
)
    
1,351
  
Ending Balance
  
$
645
    
$
829
    
$
2,882
    
$
5,791
    
$
1,550
    
$
147
    
$
-
    
$
11,844
  

(1)
The real estate-mortgage segment included residential 1-4 family, multi-family, second mortgages and equity lines of credit.
(2) The real estate-commercial segment included commercial-owner occupied and commercial non-owner occupied.
(3)
The consumer segment included consumer automobile loans.

The following table presents a breakdown of the provision for credit losses for the periods indicated.

   
Three Months Ended September 30,
     Nine Months Ended September 30,  
(dollars in thousands)
  
2024
    
2023
     2024     2023
  
Provision for credit losses:
                        
Provision for loans
  
$
342
    
$
478
     $ 611     $ 1,351  
Provision for (recovery of) unfunded commitments
    
(60
)
    
27
       12       (109 )
Total
  
$
282
    
$
505
     $ 623     $ 1,242  

Credit Quality Indicators
Credit quality indicators are utilized to help estimate the collectability of each loan. Consumer loans not secured by real estate and made to individuals for household, family and other personal expenditures are segmented into pools based on days past due, while all other loans, including loans to consumers that are secured by real estate, are segmented by risk grades. While other credit quality indicators are evaluated and analyzed as part of the Company’s credit risk management activities, the Company uses internally-assigned risk grades as the primary indicator to estimate the capability of borrowers to repay the contractual obligations of their loan agreements as scheduled or at all. The Company’s internal risk grade system is based on experiences with similarly graded loans. Credit risk grades are updated at least quarterly as additional information becomes available, at which time management analyzes the resulting scores to track loan performance.
 
The Company’s internally assigned risk grades are as follows:
 

 		•
Pass: Loans are of acceptable risk.

•
Other Assets Especially Mentioned (OAEM): Loans have potential weaknesses that deserve management’s close attention.

•
Substandard: Loans reflect significant deficiencies due to several adverse trends of a financial, economic, or managerial nature.

•
Doubtful: Loans have all the weaknesses inherent in a substandard loan with added characteristics that make collection or liquidation in full based on currently existing facts, conditions, and values highly questionable or improbable.

•
Loss: Loans have been identified for charge-off because they are considered uncollectible and of such little value that their continuance as bankable assets is not warranted.
 

The following tables present credit quality exposures by internally assigned risk ratings originated as of the dates indicated:


   
September 30, 2024
  
   
Term Loans Amortized Cost Basis by Origination Year
              
(dollars in thousands)
  
2024
    
2023
    
2022
    
2021
    
2020
    
Prior
    
Revolving
Loans
    
Total
  
Construction and land development
                                                
Pass
  
$
23,765
    
$
33,523
    
$
28,783
    
$
1,503
    
$
1,803
    
$
292
    
$
886
    
$
90,555
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total construction and land development
  
$
23,765
    
$
33,523
    
$
28,783
    
$
1,503
    
$
1,803
    
$
292
    
$
886
    
$
90,555
  
                                                                 
Commercial real estate - owner occupied
                                                                
Pass
  
$
7,238
    
$
9,427
    
$
27,689
    
$
20,510
    
$
11,002
    
$
57,394
    
$
725
    
$
133,985
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
6
      
-
      
6
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial real estate - owner occupied
  
$
7,238
    
$
9,427
    
$
27,689
    
$
20,510
    
$
11,002
    
$
57,400
    
$
725
    
$
133,991
  
                                                                 
Commercial real estate - non-owner occupied
                                                                
Pass
  
$
3,218
    
$
33,721
    
$
66,168
    
$
102,785
    
$
39,557
    
$
45,934
    
$
424
    
$
291,807
  
OAEM
    
-
      
-
      
-
      
11,751
      
-
      
773
      
-
      
12,524
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial real estate - non-owner occupied
  
$
3,218
    
$
33,721
    
$
66,168
    
$
114,536
    
$
39,557
    
$
46,707
    
$
424
    
$
304,331
  
                                                                 
Commercial and industrial
                                                                
Pass
  
$
4,079
    
$
13,956
    
$
14,307
    
$
3,322
    
$
1,095
    
$
5,681
    
$
9,507
    
$
51,947
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial and industrial
  
$
4,079
    
$
13,956
    
$
14,307
    
$
3,322
    
$
1,095
    
$
5,681
    
$
9,507
    
$
51,947
  
                                                                 
Multifamily real estate
                                                                
Pass
  
$
-
    
$
7,625
    
$
1,352
    
$
2,099
    
$
586
    
$
22,664
    
$
4,906
    
$
39,232
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total multifamily real estate
  
$
-
    
$
7,625
    
$
1,352
    
$
2,099
    
$
586
    
$
22,664
    
$
4,906
    
$
39,232
  
                                                                 
Residential 1-4 family
                                                                
Pass
  
$
7,352
    
$
34,061
    
$
39,474
    
$
33,339
    
$
25,554
    
$
56,135
    
$
57,461
    
$
253,376
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
44
      
-
      
44
  
Total residential 1-4 family
  
$
7,352
    
$
34,061
    
$
39,474
    
$
33,339
    
$
25,554
    
$
56,179
    
$
57,461
    
$
253,420
  
                                                                 
Consumer - automobile
                                                                
Pass
  
$
17,086
    
$
37,825
    
$
60,537
    
$
8,477
    
$
2,423
    
$
3,862
    
$
-
    
$
130,210
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total consumer - automobile
  
$
17,086
    
$
37,825
    
$
60,537
    
$
8,477
    
$
2,423
    
$
3,862
    
$
-
    
$
130,210
  
                                                                 
Consumer - other
                                                                
Pass
  
$
1,005
    
$
220
    
$
375
    
$
257
    
$
38
    
$
14,638
    
$
1,967
    
$
18,500
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total consumer - other
  
$
1,005
    
$
220
    
$
375
    
$
257
    
$
38
    
$
14,638
    
$
1,967
    
$
18,500
  
                                                                 
Other
                                                                
Pass
  
$
2,259
    
$
-
    
$
-
    
$
274
    
$
-
    
$
993
    
$
-
    
$
3,526
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total other
  
$
2,259
    
$
-
    
$
-
    
$
274
    
$
-
    
$
993
    
$
-
    
$
3,526
  
                                                                 
Total loans
                                                                
Pass
  
$
66,002
    
$
170,358
    
$
238,685
    
$
172,566
    
$
82,058
    
$
207,593
    
$
75,876
    
$
1,013,138
  
OAEM
    
-
      
-
      
-
      
11,751
      
-
      
779
      
-
      
12,530
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
44
      
-
      
44
  
Total loans
  
$
66,002
    
$
170,358
    
$
238,685
    
$
184,317
    
$
82,058
    
$
208,416
    
$
75,876
    
$
1,025,712
  




December 31, 2023
  
   
Term Loans Amortized Cost Basis by Origination Year
              
(dollars in thousands)
  
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Revolving
Loans
    
Total
  
Construction and land development
                                                
Pass
  
$
40,168
    
$
36,581
    
$
25,770
    
$
3,630
    
$
297
    
$
285
    
$
448
    
$
107,179
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total construction and land development
  
$
40,168
    
$
36,581
    
$
25,770
    
$
3,630
    
$
297
    
$
285
    
$
448
    
$
107,179
  
                                                                 
Commercial real estate - owner occupied
                                                                
Pass
  
$
10,145
    
$
33,720
    
$
21,058
    
$
13,708
    
$
12,025
    
$
56,978
    
$
5,680
    
$
153,314
  
OAEM
    
-
      
-
      
-
      
-
      
77
      
2,985
      
-
      
3,062
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
90
      
-
      
90
  
Total commercial real estate - owner occupied
  
$
10,145
    
$
33,720
    
$
21,058
    
$
13,708
    
$
12,102
    
$
60,053
    
$
5,680
    
$
156,466
  
                                                                 
Commercial real estate - non-owner occupied
                                                                
Pass
  
$
31,539
    
$
53,217
    
$
96,755
    
$
38,704
    
$
10,517
    
$
51,451
    
$
2,263
    
$
284,446
  
OAEM
    
-
      
-
      
-
      
-
      
804
      
-
      
-
      
804
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial real estate - non-owner occupied
  
$
31,539
    
$
53,217
    
$
96,755
    
$
38,704
    
$
11,321
    
$
51,451
    
$
2,263
    
$
285,250
  
                                                                 
Commercial and industrial
                                                                
Pass
  
$
18,248
    
$
21,698
    
$
4,300
    
$
1,691
    
$
2,192
    
$
2,075
    
$
13,908
    
$
64,112
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial and industrial
  
$
18,248
    
$
21,698
    
$
4,300
    
$
1,691
    
$
2,192
    
$
2,075
    
$
13,908
    
$
64,112
  
                                                                 
Multifamily real estate
                                                                
Pass
  
$
6,568
    
$
3,841
    
$
2,151
    
$
605
    
$
5,955
    
$
9,005
    
$
1,082
    
$
29,207
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total multifamily real estate
  
$
6,568
    
$
3,841
    
$
2,151
    
$
605
    
$
5,955
    
$
9,005
    
$
1,082
    
$
29,207
  
                                                                 
Residential 1-4 family
                                                                
Pass
  
$
27,497
    
$
41,062
    
$
39,937
    
$
26,368
    
$
13,009
    
$
52,148
    
$
54,087
    
$
254,108
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
350
      
46
      
142
      
-
      
538
  
Total residential 1-4 family
  
$
27,497
    
$
41,062
    
$
39,937
    
$
26,718
    
$
13,055
    
$
52,290
    
$
54,087
    
$
254,646
  
 
                                                                
Consumer - automobile
                                                                
Pass
  
$
52,750
    
$
83,885
    
$
13,184
    
$
4,152
    
$
1,618
    
$
4,848
    
$
-
    
$
160,437
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total consumer - automobile
  
$
52,750
    
$
83,885
    
$
13,184
    
$
4,152
    
$
1,618
    
$
4,848
    
$
-
    
$
160,437
  
                                                                 
Consumer - other
                                                                
Pass
  
$
323
    
$
765
    
$
330
    
$
109
    
$
11
    
$
16,089
    
$
2,091
    
$
19,718
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total consumer - other
  
$
323
    
$
765
    
$
330
    
$
109
    
$
11
    
$
16,089
    
$
2,091
    
$
19,718
  
                                                                 
Other
                                                                
Pass
  
$
1,620
    
$
-
    
$
292
    
$
-
    
$
-
    
$
1,325
    
$
-
    
$
3,237
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total other
  
$
1,620
    
$
-
    
$
292
    
$
-
    
$
-
    
$
1,325
    
$
-
    
$
3,237
  
                                                                 
Total loans
                                                                
Pass
  
$
188,858
    
$
274,769
    
$
203,777
    
$
88,967
    
$
45,624
    
$
194,204
    
$
79,559
    
$
1,075,758
  
OAEM
    
-
      
-
      
-
      
-
      
881
      
2,985
      
-
      
3,866
  
Substandard
    
-
      
-
      
-
      
350
      
46
      
232
      
-
      
628
  
Total loans
  
$
188,858
    
$
274,769
    
$
203,777
    
$
89,317
    
$
46,551
    
$
197,421
    
$
79,559
    
$
1,080,252
  


The following tables detail the current period gross charge-offs of loans by year of origination for the nine months ended September 30, 2024 and September 30, 2023:


   
September 30, 2024
  
   
Current Period Charge-offs by Origination Year
              
(dollars in thousands)
  
2024
    
2023
    
2022
    
2021
    
2020
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Total
  
Commercial and industrial   $
 28     $
18     $
 108     $
-     $
 -     $
 9     $ -     $
 163  
Consumer - automobile
    
-
      
312
      
655
      
160
      
34
      
28
      
-
      
1,189
  
Consumer - other
    
-
      
-
      
-
      
-
      
-
      
9
      
-
      
9
  
Other (1)
    
165
      
-
      
-
      
-
      
-
      
-
      
-
      
165
  
Total
  
$
193
    
$
330
    
$
763
    
$
160
    
$
34
    
$
46
    
$
-
    
$
1,526
  
(1)
Gross charge-offs of other loans for the nine months ended September 30, 2024 included $165 thousand of demand deposit overdrafts that originated in 2024.

   
September 30, 2023
  
   
Current Period Charge-offs by Origination Year
              
(dollars in thousands)
  
2023
    
2022
    
2021
    
2020
    
2019
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Total
  
Commercial and industrial   $
 -     $
 140     $
 15     $
 4     $
 -     $
 -     $
 -     $
 159  
Consumer - automobile
    
9
    
382
    
267
    
68
    
18
    
51
    
-
    
795
  
Consumer - other
    
-
      
-
      
5
      
-
      
3
      
10
      
-
      
18
  
Other (1)
    
206
      
22
      
-
      
-
      
-
      
-
      
-
      
228
  
Total
  
$
215
    
$
544
    
$
287
    
$
72
    
$
21
    
$
61
    
$
-
    
$
1,200
  
(1)
 Gross charge-offs of other loans for the nine months ended September 30, 2023 included $206 thousand of demand deposit overdrafts that originated in 2023.

As of September 30, 2024 and December 31, 2023, the Company had no collateral dependent loans for which repayment was expected to be derived substantially through the operation or sale of the collateral and where the borrower was experiencing financial difficulty.