Loans and Related Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

Loans And Related Allowances For Loan Losses [Abstract]

Loan Portfolio Segments

(in thousands)	Commercial Real Estate		Acquisition and Development		Commercial and Industrial		Residential Mortgage		Consumer		Total
March 31, 2024
Individually evaluated for impairment	$	819	$	—	$	12,085	$	1,971	$	—	$	14,875
Collectively evaluated for impairment		492,000		83,424		262,637		500,019		59,372		1,397,452
Total loans	$	492,819	$	83,424	$	274,722	$	501,990	$	59,372	$	1,412,327
December 31, 2023
Individually evaluated for impairment	$	826	$	—	$	—	$	2,137	$	—	$	2,963
Collectively evaluated for impairment		492,877		77,060		274,604		497,734		61,429		1,403,704
Total loans	$	493,703	$	77,060	$	274,604	$	499,871	$	61,429	$	1,406,667

Loan Portfolio Summarized by the Past Due Status

(in thousands)	Current		30-59 Days Past Due		60-89 Days Past Due		90 Days+ Past Due		Total Past Due and Accruing		Non- Accrual		Total Loans
March 31, 2024
Commercial real estate:
Non-owner-occupied	$	293,109	$	1,387	$	—	$	—	$	1,387	$	219	$	294,715
All other CRE		197,505		—		—		—		—		599		198,104
Acquisition and development:
1-4 family residential construction		18,781		—		—		—		—		—		18,781
All other A&D		64,538		—		—		—		—		105		64,643
Commercial and industrial		262,061		559		9		—		568		12,093		274,722
Residential mortgage:
Residential mortgage - term		436,673		1,845		—		61		1,906		2,528		441,107
Residential mortgage - home equity		60,013		310		210		15		535		335		60,883
Consumer		58,037		840		323		44		1,207		128		59,372
Total	$	1,390,717	$	4,941	$	542	$	120	$	5,603	$	16,007	$	1,412,327
December 31, 2023
Commercial real estate:
Non-owner-occupied	$	296,343	$	—	$	—	$	—	$	—	$	227	$	296,570
All other CRE		196,123		411		—		—		411		599		197,133
Acquisition and development:
1-4 family residential construction		18,224		—		—		—		—		—		18,224
All other A&D		58,723		—		—		—		—		113		58,836
Commercial and industrial		274,465		120		19		—		139		—		274,604
Residential mortgage:
Residential mortgage - term		433,878		130		717		384		1,231		2,720		437,829
Residential mortgage - home equity		61,021		520		158		75		753		268		62,042
Consumer		60,576		463		277		84		824		29		61,429
Total	$	1,399,353	$	1,644	$	1,171	$	543	$	3,358	$	3,956	$	1,406,667

Primary Segments of the Allowance for Loan Loss

(in thousands)	Commercial Real Estate		Acquisition and Development		Commercial and Industrial		Residential Mortgage		Consumer		Total
March 31, 2024
Individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—
Collectively evaluated for impairment		4,962		1,014		4,002		7,017		987		17,982
Total ACL	$	4,962	$	1,014	$	4,002	$	7,017	$	987	$	17,982
December 31, 2023
Individually evaluated for impairment	$	—	$	—	$	—	$	—	$	—	$	—
Collectively evaluated for impairment		5,120		940		3,717		6,774		929		17,480
Total ACL	$	5,120	$	940	$	3,717	$	6,774	$	929	$	17,480

Schedule of amortized cost basis of collateral-dependent individually evaluated loans

	March 31, 2024
(in thousands)	Real Estate			Other Collateral	Non-Accrual Loans with No Allowance
Commercial real estate	$	819	$	—	$	819
Commercial and industrial		—		12,085		12,085
Residential mortgage		1,971		—		1,971
Total Loans	$	2,790	$	12,085	$	14,875

	December 31, 2023
(in thousands)	Real Estate			Other Collateral	Non-Accrual Loans with No Allowance
Commercial real estate	$	826	$	—	$	826
Residential mortgage		2,137		—		2,137
Total Loans	$	2,963	$	—	$	2,963

Allowance for Loan Losses Summarized by Loan Portfolio Segments

Three months ended (in thousands)	Commercial Real Estate		Acquisition and Development		Commercial and Industrial		Residential Mortgage		Consumer		Unallocated		Total
Beginning balance at January 1, 2024	$	5,120	$	940	$	3,717	$	6,774	$	929	$	—	$	17,480
Loan charge-offs		—		—		(112)		—		(506)		—		(618)
Recoveries collected		37		3		31		18		70		—		159
Credit loss (credit)/expense		(195)		71		366		225		494		—		961
ACL balance at March 31, 2024	$	4,962	$	1,014	$	4,002	$	7,017	$	987	$	—	$	17,982
Beginning balance at January 1, 2023 prior to adoption of ASC 326	$	6,345	$	979	$	2,845	$	3,160	$	877	$	430	$	14,636
Impact of adopting ASC 326		(1,143)		(15)		1,334		2,112		208		(430)		2,066
Loan charge-offs		—		—		—		(6)		(333)		—		(339)
Recoveries collected		5		5		4		18		62		—		94
Credit loss (credit)/expense		(345)		134		(428)		1,040		13		—		414
ACL balance at March 31, 2023	$	4,862	$	1,103	$	3,755	$	6,324	$	827	$	—	$	16,871

Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating

(in thousands)	2024		2023		2022		2021		2020		2019 and Prior		Revolving		Total Portfolio Loans
March 31, 2024
Commercial real estate:
Non-owner-occupied
Pass	$	1,709	$	23,394	$	66,664	$	29,960	$	53,161	$	106,806	$	1,076	$	282,770
Special Mention		—		—		—		—		744		—		—		744
Substandard		—		—		—		—		—		11,201		—		11,201
Total non-owner occupied		1,709		23,394		66,664		29,960		53,905		118,007		1,076		294,715
Current period gross charge-offs		—		—		—		—		—		—		—		—
All other CRE
Pass		710		29,970		31,545		26,411		20,165		81,304		4,206		194,311
Special Mention		—		—		—		—		567		—		—		567
Substandard		—		—		—		—		—		2,626		600		3,226
Total all other CRE		710		29,970		31,545		26,411		20,732		83,930		4,806		198,104
Current period gross charge-offs		—		—		—		—		—		—		—		—
Acquisition and development:
1-4 family residential construction
Pass		129		16,488		337		—		—		—		1,827		18,781
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total acquisition and development		129		16,488		337		—		—		—		1,827		18,781
Current period gross charge-offs		—		—		—		—		—		—		—		—
All other A&D
Pass		3,553		20,963		18,794		1,949		3,022		11,860		4,397		64,538
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		105		—		105
Total all other A&D		3,553		20,963		18,794		1,949		3,022		11,965		4,397		64,643
Current period gross charge-offs		—		—		—		—		—		—		—		—
Commercial and industrial:
Pass		9,089		45,722		63,811		22,485		8,883		17,848		78,843		246,681
Special Mention		—		536		—		—		2,047		—		3,815		6,398
Substandard		—		—		9,338		1,799		6,696		862		2,948		21,643
Total commercial and industrial		9,089		46,258		73,149		24,284		17,626		18,710		85,606		274,722
Current period gross charge-offs		—		—		56		—		41		15		—		112
Residential mortgage:
Residential mortgage - term
Pass		6,398		52,650		97,246		86,175		37,658		152,285		2,118		434,530
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		925		15		5,581		56		6,577
Total residential mortgage - term		6,398		52,650		97,246		87,100		37,673		157,866		2,174		441,107
Current period gross charge-offs		—		—		—		—		—		—		—		—
Residential mortgage - home equity
Pass		—		965		4,447		843		460		694		52,732		60,141
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		74		—		37		15		616		742
Total residential mortgage - home equity		—		965		4,521		843		497		709		53,348		60,883
Current period gross charge-offs		—		—		—		—		—		—		—		—
Consumer:
Pass		3,030		16,279		9,519		5,470		1,879		20,149		2,808		59,134
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		61		26		119		21		5		6		238
Total consumer		3,030		16,340		9,545		5,589		1,900		20,154		2,814		59,372
Current period gross charge-offs		50		371		51		11		1		22		—		506
Total Portfolio Loans
Pass		24,618		206,431		292,363		173,293		125,228		390,946		148,007		1,360,886
Special Mention		—		536		—		—		3,358		—		3,815		7,709
Substandard		—		61		9,438		2,843		6,769		20,395		4,226		43,732
Total Portfolio Loans	$	24,618	$	207,028	$	301,801	$	176,136	$	135,355	$	411,341	$	156,048	$	1,412,327
Current YTD Period:
Current period gross charge-offs	$	50	$	371	$	107	$	11	$	42	$	37	$	—	$	618

(in thousands)	2023		2022		2021		2020		2019		2018 and Prior		Revolving		Total Portfolio Loans
December 31, 2023
Commercial real estate:
Non-owner-occupied
Pass	$	23,511	$	65,878	$	30,332	$	54,270	$	40,575	$	65,134	$	1,138	$	280,838
Special Mention		—		—		—		—		—		4,331		—		4,331
Substandard		—		—		—		—		—		11,401		—		11,401
Total non-owner occupied		23,511		65,878		30,332		54,270		40,575		80,866		1,138		296,570
Current period gross charge-offs		—		—		—		—		—		87		—		87
All other CRE
Pass		30,130		27,379		27,042		20,691		22,879		60,054		4,495		192,670
Special Mention		—		—		—		644		—		—		—		644
Substandard		—		—		—		—		1,847		1,372		600		3,819
Total all other CRE		30,130		27,379		27,042		21,335		24,726		61,426		5,095		197,133
Current period gross charge-offs		—		—		—		—		—		—		—		—
Acquisition and development:
1-4 family residential construction
Pass		13,745		3,446		—		—		—		—		1,033		18,224
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—		—
Total acquisition and development		13,745		3,446		—		—		—		—		1,033		18,224
Current period gross charge-offs		—		—		—		—		—		—		—		—
All other A&D
Pass		12,184		25,099		2,966		3,046		1,301		9,946		4,181		58,723
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		113		—		113
Total all other A&D		12,184		25,099		2,966		3,046		1,301		10,059		4,181		58,836
Current period gross charge-offs		—		—		—		—		—		—		—		—
Commercial and industrial:
Pass		52,004		66,559		24,387		11,753		8,872		10,052		78,992		252,619
Special Mention		558		—		—		—		—		—		—		558
Substandard		—		9,352		1,854		6,806		98		837		2,480		21,427
Total commercial and industrial		52,562		75,911		26,241		18,559		8,970		10,889		81,472		274,604
Current period gross charge-offs		100		103		35		166		—		19		—		423
Residential mortgage:
Residential mortgage - term
Pass		51,625		94,723		88,835		38,228		25,375		130,402		1,577		430,765
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		138		929		17		98		5,825		57		7,064
Total residential mortgage - term		51,625		94,861		89,764		38,245		25,473		136,227		1,634		437,829
Current period gross charge-offs		—		—		—		—		—		13		—		13
Residential mortgage - home equity
Pass		1,127		4,657		864		475		286		489		53,467		61,365
Special Mention		—		—		—		—		—		—		—		—
Substandard		—		—		—		38		—		16		623		677
Total residential mortgage - home equity		1,127		4,657		864		513		286		505		54,090		62,042
Current period gross charge-offs		—		—		—		—		—		42		—		42
Consumer:
Pass		18,299		10,616		6,361		2,206		510		20,365		2,873		61,230
Special Mention		—		—		—		—		—		—		—		—
Substandard		14		35		113		23		6		2		6		199
Total consumer		18,313		10,651		6,474		2,229		516		20,367		2,879		61,429
Current period gross charge-offs		236		223		74		8		4		329		—		874
Total Portfolio Loans
Pass		202,625		298,357		180,787		130,669		99,798		296,442		147,756		1,356,434
Special Mention		558		—		—		644		—		4,331		—		5,533
Substandard		14		9,525		2,896		6,884		2,049		19,566		3,766		44,700
Total Portfolio Loans	$	203,197	$	307,882	$	183,683	$	138,197	$	101,847	$	320,339	$	151,522	$	1,406,667
Current YTD Period:
Current period gross charge-offs	$	336	$	326	$	109	$	174	$	4	$	490	$	—	$	1,439

Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past.

The following tables present loan balances by year of origination segregated by performing and non-performing loans for the periods presented:

(in thousands)	2024		2023		2022		2021		2020		2019 and Prior		Revolving		Total Portfolio Loans
March 31, 2024
Commercial real estate:
Non-owner-occupied
Performing	$	1,709	$	23,394	$	66,664	$	29,960	$	53,905	$	117,788	$	1,076	$	294,496
Nonperforming		—		—		—		—		—		219		—		219
Total non-owner occupied		1,709		23,394		66,664		29,960		53,905		118,007		1,076		294,715
All other CRE
Performing		710		29,970		31,545		26,411		20,732		83,331		4,806		197,505
Nonperforming		—		—		—		—		—		599		—		599
Total all other CRE		710		29,970		31,545		26,411		20,732		83,930		4,806		198,104
Acquisition and development:
1-4 family residential construction
Performing		129		16,488		337		—		—		—		1,827		18,781
Nonperforming		—		—		—		—		—		—		—		—
Total acquisition and development		129		16,488		337		—		—		—		1,827		18,781
All other A&D
Performing		3,553		20,963		18,794		1,949		3,022		11,860		4,397		64,538
Nonperforming		—		—		—		—		—		105		—		105
Total all other A&D		3,553		20,963		18,794		1,949		3,022		11,965		4,397		64,643
Commercial and industrial:
Performing		9,089		46,258		63,811		22,538		17,626		18,710		84,597		262,629
Nonperforming		—		—		9,338		1,746		—		—		1,009		12,093
Total commercial and industrial		9,089		46,258		73,149		24,284		17,626		18,710		85,606		274,722
Residential mortgage:
Residential mortgage - term
Performing		6,398		52,650		97,246		86,965		37,673		155,443		2,143		438,518
Nonperforming		—		—		—		135		—		2,423		31		2,589
Total residential mortgage - term		6,398		52,650		97,246		87,100		37,673		157,866		2,174		441,107
Residential mortgage - home equity
Performing		—		965		4,447		843		460		693		53,125		60,533
Nonperforming		—		—		74		—		37		16		223		350
Total residential mortgage - home equity		—		965		4,521		843		497		709		53,348		60,883
Consumer:
Performing		3,030		16,309		9,520		5,505		1,900		20,122		2,814		59,200
Nonperforming		—		31		25		84		—		32		—		172
Total consumer		3,030		16,340		9,545		5,589		1,900		20,154		2,814		59,372
Total Portfolio Loans
Performing		24,618		206,997		292,364		174,171		135,318		407,947		154,785		1,396,200
Nonperforming		—		31		9,437		1,965		37		3,394		1,263		16,127
Total Portfolio Loans	$	24,618	$	207,028	$	301,801	$	176,136	$	135,355	$	411,341	$	156,048	$	1,412,327

(in thousands)	2023		2022		2021		2020		2019		2018 and Prior		Revolving		Total Portfolio Loans
December 31, 2023
Commercial real estate:
Non-owner-occupied
Performing	$	23,511	$	65,878	$	30,332	$	54,270	$	40,575	$	80,639	$	1,138	$	296,343
Nonperforming		—		—		—		—		—		227		—		227
Total non-owner occupied		23,511		65,878		30,332		54,270		40,575		80,866		1,138		296,570
All other CRE
Performing		30,130		27,379		27,042		21,335		24,726		60,827		5,095		196,534
Nonperforming		—		—		—		—		—		599		—		599
Total all other CRE		30,130		27,379		27,042		21,335		24,726		61,426		5,095		197,133
Acquisition and development:
1-4 family residential construction
Performing		13,745		3,446		—		—		—		—		1,033		18,224
Nonperforming		—		—		—		—		—		—		—		—
Total acquisition and development		13,745		3,446		—		—		—		—		1,033		18,224
All other A&D
Performing		12,184		25,099		2,966		3,046		1,301		9,946		4,181		58,723
Nonperforming		—		—		—		—		—		113		—		113
Total all other A&D		12,184		25,099		2,966		3,046		1,301		10,059		4,181		58,836
Commercial and industrial:
Performing		52,562		75,911		26,241		18,559		8,970		10,889		81,472		274,604
Nonperforming		—		—		—		—		—		—		—		—
Total commercial and industrial		52,562		75,911		26,241		18,559		8,970		10,889		81,472		274,604
Residential mortgage:
Residential mortgage - term
Performing		51,625		94,722		89,629		38,245		25,375		133,526		1,603		434,725
Nonperforming		—		139		135		—		98		2,701		31		3,104
Total residential mortgage - term		51,625		94,861		89,764		38,245		25,473		136,227		1,634		437,829
Residential mortgage - home equity
Performing		1,127		4,657		864		475		286		488		53,802		61,699
Nonperforming		—		—		—		38		—		17		288		343
Total residential mortgage - home equity		1,127		4,657		864		513		286		505		54,090		62,042
Consumer:
Performing		18,304		10,616		6,405		2,229		516		20,367		2,879		61,316
Nonperforming		9		35		69		—		—		—		—		113
Total consumer		18,313		10,651		6,474		2,229		516		20,367		2,879		61,429
Total Portfolio Loans
Performing		203,188		307,708		183,479		138,159		101,749		316,682		151,203		1,402,168
Nonperforming		9		174		204		38		98		3,657		319		4,499
Total Portfolio Loans	$	203,197	$	307,882	$	183,683	$	138,197	$	101,847	$	320,339	$	151,522	$	1,406,667