Restructurings for Borrowers Experiencing Financial Difficulty

3 Months Ended

Mar. 31, 2024

Receivables [Abstract]

Restructurings for Borrowers Experiencing Financial Difficulty

NOTE 6. Restructurings for Borrowers Experiencing Financial Difficulty

There were no loans modified during the three months ended March 31, 2024. The following table presents the amortized cost of loans that were modified during the three months ended March 31, 2023 by loan portfolio segment:

	2023
	(Dollars in thousands)
	Term Extension		Total		% of Total Class of Loans
Mortgage real estate loans:
Residential First Lien - Owner Occupied	$	355	$	355		0.27	%
Total	$	355	$	355

None of the loans that were modified defaulted during the three months ended March 31, 2023 and the loans remain current with contractual payments as of March 31, 2024. The financial effects of the term extensions during the prior-year period added a weighted average of 1.0 years to the life of loans which reduced the payment amounts for the borrowers.

Management defines default as over 30 days contractually past due under the modified terms, the foreclosure and/or repossession of the collateral, or the charge-off of the loan during the twelve-month period subsequent to the modification.