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Loans and the Allowance for Credit Losses on Loans
 3 Months Ended
Mar. 31, 2025
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:


   
March 31,
    
December 31,
  
(dollars in thousands)
  
2025
    
2024
  
Mortgage loans on real estate:
            
Residential 1-4 family
  
$
177,389
    
$
179,704
  
Commercial - owner occupied
    
132,252
      
127,933
  
Commercial - non-owner occupied
    
306,159
      
310,952
  
Multifamily
    
38,789
      
39,467
  
Construction and land development
    
87,767
      
85,926
  
Second mortgages
    
11,047
      
10,749
  
Equity lines of credit
    
58,846
      
56,851
  
Total mortgage loans on real estate
    
812,249
      
811,582
  
Commercial and industrial loans
    
50,567
      
53,906
  
Consumer automobile loans
    
130,101
      
124,689
  
Other consumer loans
    
16,818
      
17,449
  
Other  (1)
    
3,095
      
2,534
  
Total loans, net of deferred fees (2)
    
1,012,830
      
1,010,160
  
Less:  Allowance for credit losses on loans
    
11,821
      
11,447
  
Loans, net of allowance and deferred fees (2)
  
$
1,001,009
    
$
998,713
  

(1)
Overdrawn accounts are reclassified as loans and included in the Other category in the table above.  Overdrawn deposit accounts totaled $289 thousand and $286 thousand at March 31, 2025 and December 31, 2024, respectively.
(2)
Net deferred loan fees totaled $730 thousand and $868 thousand at March 31, 2025 and December 31, 2024, respectively.

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 March 31, 2025 and December 31, 2024.


Age Analysis of Past Due Loans as of March 31, 2025


(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
  
$
51
    
$
-
    
$
-
    
$
37
    
$
177,301
    
$
177,389
  
Commercial - owner occupied
    
55
      
-
      
-
      
-
      
132,197
      
132,252
  
Commercial - non-owner occupied
    
169
      
-
      
-
      
-
      
305,990
      
306,159
  
Multifamily
    
-
      
-
      
-
      
-
      
38,789
      
38,789
  
Construction and land development
    
-
      
-
      
1,241
      
-
      
86,526
      
87,767
  
Second mortgages
    
242
      
-
      
-
      
-
      
10,805
      
11,047
  
Equity lines of credit
    
94
      
114
      
-
      
43
      
58,595
      
58,846
  
Total mortgage loans on real estate
  
$
611
    
$
114
    
$
1,241
    
$
80
    
$
810,203
    
$
812,249
  
Commercial and industrial loans
    
212
      
64
      
287
      
-
      
50,004
      
50,567
  
Consumer automobile loans
    
1,466
      
314
      
262
      
-
      
128,059
      
130,101
  
Other consumer loans
    
460
      
59
      
94
      
-
      
16,205
      
16,818
  
Other
    
289
      
-
      
-
      
-
      
2,806
      
3,095
  
Total
  
$
3,038
    
$
551
    
$
1,884
    
$
80
    
$
1,007,277
    
$
1,012,830
  

(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.

Age Analysis of Past Due Loans as of December 31, 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
  
$
125
    
$
-
    
$
-
    
$
39
    
$
179,540
    
$
179,704
  
Commercial - owner occupied
    
-
      
-
      
-
      
-
      
127,933
      
127,933
  
Commercial - non-owner occupied
    
-
      
-
      
-
      
-
      
310,952
      
310,952
  
Multifamily
    
-
      
-
      
-
      
-
      
39,467
      
39,467
  
Construction and land development
    
-
      
-
      
-
      
-
      
85,926
      
85,926
  
Second mortgages
    
176
      
13
      
-
      
-
      
10,560
      
10,749
  
Equity lines of credit
    
253
      
64
      
50
      
43
      
56,441
      
56,851
  
Total mortgage loans on real estate
  
$
554
    
$
77
    
$
50
    
$
82
    
$
810,819
    
$
811,582
  
Commercial and industrial loans
    
919
      
181
      
259
      
-
      
52,547
      
53,906
  
Consumer automobile loans
    
2,682
      
898
      
238
      
-
      
120,871
      
124,689
  
Other consumer loans
    
407
      
225
      
94
      
-
      
16,723
      
17,449
  
Other
    
286
      
-
      
-
      
-
      
2,248
      
2,534
  
Total
  
$
4,848
    
$
1,381
    
$
641
    
$
82
    
$
1,003,208
    
$
1,010,160
  

(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 and loans past due 90 days and accruing as of March 31, 2025 and December 31, 2024, by class of loan.



   
Nonaccrual
     Nonaccrual with no ACLL
         90 Days and still Accruing
  
(dollars in thousands)
  
March 31, 2025
    
December 31, 2024
       March 31, 2025     December 31, 2024      March 31, 2025
      December 31, 2024
  
Mortgage loans on real estate:
                                    
Residential 1-4 family
  
$
37
    
$
39
     $ 37     $ 39     $
-     $
-  
Commercial - owner occupied
    -       -       -       -       -       -  
Construction and land development
    -
       -
       -
       -
       1,241       -  
Equity lines of credit
    
43
      
43
       43       -       -       50  
Total mortgage loans on real estate
    
80
      
82
       80       39       1,241       50  
Commercial and industrial loans
    
-
      
-
       -       -       287       259  
Consumer automobile loans
    
-
      
-
       -       -       262       238  
Other consumer loans
     -       -       -       -       94       94  
Total
  
$
80
    
$
82
     $
80     $
39     $
1,884     $
641  

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 months ended March 31, 2025 and 2024.


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 present the activity in the ACLL by portfolio class for the three months ended March 31, 2025 and March 31, 2024.



Allowance for Credit Losses

For the Three Months Ended March 31, 2025


(dollars in thousands)
  
Commercial
and Industrial
    
Real Estate
Construction
and Land
Development
   
Real Estate -
Mortgage (1)
    
Real Estate -
Commercial (2)
    
Consumer (3)
    
Other
    
Total
  
Allowance for credit losses on loans:
                                      
Balance, beginning
  
$
480
    
$
814
    
$
2,874
    
$
5,493
    
$
1,641
    
$
145
    
$
11,447
  
Charge-offs
    
(133
)
    
-
      
(19
)
    
-
      
(225
)
    
(46
)
    
(423
)
Recoveries
    
2
      
-
      
4
      
-
      
42
      
24
      
72
  
Provision (recovery) for loan losses
    
114
      
12
      
(10
)
    
406
      
257
      
(54
)
    
725
  
Ending Balance
  
$
463
    
$
826
    
$
2,849
    
$
5,899
    
$
1,715
    
$
69
    
$
11,821
  

For the Three Months Ended March 31, 2024

(dollars in thousands)
  
Commercial
and Industrial
    
Real Estate
Construction
    
Real Estate -
Mortgage (1)
    
Real Estate -
Commercial (2)
    
Consumer (3)
    
Other
    
Total
  
Allowance for loan losses:
                                          
Balance, beginning
  
$
573
    
$
982
    
$
2,904
    
$
5,742
    
$
1,827
    
$
178
    
$
12,206
  
Charge-offs
    
-
      
-
      
-
      
-
      
(462
)
    
(32
)
    
(494
)
Recoveries
    
4
      
-
      
13
      
11
      
123
      
7
      
158
  
Provision (recovery) for loan losses
    
(91
)
    
33
      
(72
)
    
(129
)
    
294
      
43
      
78
  
Ending Balance
  
$
486
    
$
1,015
    
$
2,845
    
$
5,624
    
$
1,782
    
$
196
    
$
11,948
  

(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 March 31,
  
(dollars in thousands)
  
2025
    
2024
  
Provision for credit losses:
            
Provision for loans
  
$
725
    
$
78
  
(Recovery of) provison for unfunded commitments
    
(8
)
    
2
  
Total
  
$
717
    
$
80
  

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:


   
March 31, 2025
  
   
Term Loans Amortized Cost Basis by Origination Year
              
(dollars in thousands)
  
2025
    
2024
    
2023
    
2022
    
2021
    
Prior
    
Revolving
Loans
    
Total
  
Construction and land development
                                                
Pass
  
$
8,203
    
$
30,637
    
$
24,644
    
$
20,694
    
$
1,329
    
$
1,019
    
$
-
    
$
86,526
  
OAEM
    
-
      
-
      
-
      
-
      
117
      
1,124
      
-
      
1,241
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total construction and land development
  
$
8,203
    
$
30,637
    
$
24,644
    
$
20,694
    
$
1,446
    
$
2,143
    
$
-
    
$
87,767
  
                                                                 
Commercial real estate - owner occupied
                                                                
Pass
  
$
9,625
    
$
12,068
    
$
8,369
    
$
21,586
    
$
15,650
    
$
63,890
    
$
1,064
    
$
132,252
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial real estate - owner occupied
  
$
9,625
    
$
12,068
    
$
8,369
    
$
21,586
    
$
15,650
    
$
63,890
    
$
1,064
    
$
132,252
  
                                                                 
Commercial real estate - non-owner occupied
                                                                
Pass
  
$
5,789
    
$
9,796
    
$
37,862
    
$
70,766
    
$
93,214
    
$
76,729
    
$
442
    
$
294,598
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
11,561
      
-
      
-
      
11,561
  
Total commercial real estate - non-owner occupied
  
$
5,789
    
$
9,796
    
$
37,862
    
$
70,766
    
$
104,775
    
$
76,729
    
$
442
    
$
306,159
  
                                                                 
Commercial and industrial
                                                                
Pass
  
$
2,612
    
$
10,337
    
$
10,811
    
$
8,971
    
$
2,562
    
$
3,715
    
$
11,129
    
$
50,137
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
114
      
-
      
114
  
Substandard
    
-
      
-
      
143
      
170
      
3
      
-
      
-
      
316
  
Total commercial and industrial
  
$
2,612
    
$
10,337
    
$
10,954
    
$
9,141
    
$
2,565
    
$
3,829
    
$
11,129
    
$
50,567
  
                                                                 
Multifamily real estate
                                                                
Pass
  
$
-
    
$
-
    
$
6,932
    
$
1,334
    
$
2,063
    
$
22,889
    
$
5,571
    
$
38,789
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total multifamily real estate
  
$
-
    
$
-
    
$
6,932
    
$
1,334
    
$
2,063
    
$
22,889
    
$
5,571
    
$
38,789
  
                                                                 
Residential 1-4 family
                                                                
Pass
  
$
2,384
    
$
15,060
    
$
29,714
    
$
36,054
    
$
32,387
    
$
74,960
    
$
56,593
    
$
247,152
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
49
      
-
      
81
      
-
      
130
  
Total residential 1-4 family
  
$
2,384
    
$
15,060
    
$
29,714
    
$
36,103
    
$
32,387
    
$
75,041
    
$
56,593
    
$
247,282
  
                                                                 
Consumer - automobile
                                                                
Pass
  
$
19,682
    
$
23,073
    
$
28,804
    
$
47,123
    
$
6,171
    
$
4,875
    
$
-
    
$
129,728
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
145
      
82
      
51
      
49
      
46
      
-
      
373
  
Total consumer - automobile
  
$
19,682
    
$
23,218
    
$
28,886
    
$
47,174
    
$
6,220
    
$
4,921
    
$
-
    
$
130,101
  
                                                                 
Consumer - other
                                                                
Pass
  
$
179
    
$
978
    
$
164
    
$
311
    
$
213
    
$
13,411
    
$
1,408
    
$
16,664
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
154
      
-
      
154
  
Total consumer - other
  
$
179
    
$
978
    
$
164
    
$
311
    
$
213
    
$
13,565
    
$
1,408
    
$
16,818
  
                                                                 
Other
                                                                
Pass
  
$
1,901
    
$
162
    
$
-
    
$
-
    
$
274
    
$
758
    
$
-
    
$
3,095
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total other
  
$
1,901
    
$
162
    
$
-
    
$
-
    
$
274
    
$
758
    
$
-
    
$
3,095
  
                                                                 
Total loans
                                                                
Pass
  
$
50,375
    
$
102,111
    
$
147,300
    
$
206,839
    
$
153,863
    
$
262,246
    
$
76,207
    
$
998,941
  
OAEM
    
-
      
-
      
-
      
-
      
117
      
1,238
      
-
      
1,355
  
Substandard
    
-
      
145
      
225
      
270
      
11,613
      
281
      
-
      
12,534
  
Total loans
  
$
50,375
    
$
102,256
    
$
147,525
    
$
207,109
    
$
165,593
    
$
263,765
    
$
76,207
    
$
1,012,830
  




December 31, 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
  
$
34,692
    
$
24,752
    
$
22,882
    
$
1,476
    
$
1,749
    
$
375
    
$
-
    
$
85,926
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total construction and land development
  
$
34,692
    
$
24,752
    
$
22,882
    
$
1,476
    
$
1,749
    
$
375
    
$
-
    
$
85,926
  
                                                                 
Commercial real estate - owner occupied
                                                                
Pass
  
$
12,111
    
$
8,432
    
$
21,984
    
$
18,533
    
$
10,860
    
$
54,917
    
$
1,096
    
$
127,933
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial real estate - owner occupied
  
$
12,111
    
$
8,432
    
$
21,984
    
$
18,533
    
$
10,860
    
$
54,917
    
$
1,096
    
$
127,933
  
                                                                 
Commercial real estate - non-owner occupied
                                                                
Pass
  
$
9,845
    
$
41,205
    
$
71,545
    
$
94,393
    
$
39,153
    
$
42,184
    
$
215
    
$
298,540
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
767
      
-
      
767
  
Substandard
    
-
      
-
      
-
      
11,645
      
-
      
-
      
-
      
11,645
  
Total commercial real estate - non-owner occupied
  
$
9,845
    
$
41,205
    
$
71,545
    
$
106,038
    
$
39,153
    
$
42,951
    
$
215
    
$
310,952
  
                                                                 
Commercial and industrial
                                                                
Pass
  
$
5,578
    
$
12,391
    
$
11,198
    
$
3,058
    
$
919
    
$
3,455
    
$
17,307
    
$
53,906
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total commercial and industrial
  
$
5,578
    
$
12,391
    
$
11,198
    
$
3,058
    
$
919
    
$
3,455
    
$
17,307
    
$
53,906
  
                                                                 
Multifamily real estate
                                                                
Pass
  
$
-
    
$
6,966
    
$
1,343
    
$
2,081
    
$
580
    
$
22,495
    
$
6,002
    
$
39,467
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total multifamily real estate
  
$
-
    
$
6,966
    
$
1,343
    
$
2,081
    
$
580
    
$
22,495
    
$
6,002
    
$
39,467
  
                                                                 
Residential 1-4 family
                                                                
Pass
  
$
12,100
    
$
32,787
    
$
37,879
    
$
32,992
    
$
23,912
    
$
53,012
    
$
54,540
    
$
247,222
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
82
      
-
      
82
  
Total residential 1-4 family
  
$
12,100
    
$
32,787
    
$
37,879
    
$
32,992
    
$
23,912
    
$
53,094
    
$
54,540
    
$
247,304
  
 
                                                                
Consumer - automobile
                                                                
Pass
  
$
24,763
    
$
33,695
    
$
53,434
    
$
7,397
    
$
1,939
    
$
3,461
    
$
-
    
$
124,689
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total consumer - automobile
  
$
24,763
    
$
33,695
    
$
53,434
    
$
7,397
    
$
1,939
    
$
3,461
    
$
-
    
$
124,689
  
                                                                 
Consumer - other
                                                                
Pass
  
$
1,041
    
$
182
    
$
345
    
$
236
    
$
14
    
$
14,037
    
$
1,594
    
$
17,449
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total consumer - other
  
$
1,041
    
$
182
    
$
345
    
$
236
    
$
14
    
$
14,037
    
$
1,594
    
$
17,449
  
                                                                 
Other
                                                                
Pass
  
$
1,490
    
$
-
    
$
-
    
$
274
    
$
-
    
$
770
    
$
-
    
$
2,534
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Substandard
    
-
      
-
      
-
      
-
      
-
      
-
      
-
      
-
  
Total other
  
$
1,490
    
$
-
    
$
-
    
$
274
    
$
-
    
$
770
    
$
-
    
$
2,534
  
                                                                 
Total loans
                                                                
Pass
  
$
101,620
    
$
160,410
    
$
220,610
    
$
160,440
    
$
79,126
    
$
194,706
    
$
80,754
    
$
997,666
  
OAEM
    
-
      
-
      
-
      
-
      
-
      
767
      
-
      
767
  
Substandard
    
-
      
-
      
-
      
11,645
      
-
      
82
      
-
      
11,727
  
Total loans
  
$
101,620
    
$
160,410
    
$
220,610
    
$
172,085
    
$
79,126
    
$
195,555
    
$
80,754
    
$
1,010,160
  


The following tables detail the current period gross charge-offs of loans by year of origination for the three months ended March 31, 2025 and March 31, 2024:


   
March 31, 2025
  
   
Current Period Charge-offs by Origination Year
              
(dollars in thousands)
  
2025
    
2024
    
2023
    
2022
    
2021
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Total
  
Commercial and industrial
  $
-    
 $
-     $
48     $
85     $
-     $
-     $
-     $
133  
Residential 1-4 Family
  
-
    
-
    
-
    
-
    
-
    
19
    
-
    
19
  
Consumer - automobile
    
-
      
34
      
125
      
37
      
20
      
9
      
-
      
225
  
Other (1)
    
46
      
-
      
-
      
-
      
-
      
-
      
-
      
46
  
Total
  
$
46
    
$
34
    
$
173
    
$
122
    
$
20
    
$
28
    
$
-
    
$
423
  
(1)
Gross charge-offs of other loans for the three months ended March 31, 2025 included $46 thousand of demand deposit overdrafts that originated in 2025.

   
March 31, 2024
  
   
Current Period Charge-offs by Origination Year
              
(dollars in thousands)
  
2024
    
2023
    
2022
    
2021
    
2020
    
Prior
    
Revolving
Loans
Amortized
Cost Basis
    
Total
  
Consumer - automobile
   $
-
     $
79
     $
266
     $
102
     $
3
     $
10
     $
-
     $
460
  
Consumer - other
    
-
      
-
      
-
      
-
      
-
      
2
      
-
      
2
  
Other (1)
    
32
      
-
      
-
      
-
      
-
      
-
      
-
      
32
  
Total
  
$
32
    
$
79
    
$
266
    
$
102
    
$
3
    
$
12
    
$
-
    
$
494
  
(1)
 Gross charge-offs of other loans for the three months ended March 31, 2024 included $32 thousand of demand deposit overdrafts that originated in 2024.

As of March 31, 2025 and December 31, 2024, 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.