XML 32 R25.htm IDEA: XBRL DOCUMENT v3.24.3
Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of Loans

The following schedule details the loans of the Company at September 30, 2024 and December 31, 2023:

 

 

 

(In Thousands)

 

 

 

September 30, 2024

 

 

December 31, 2023

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

1,092,678

 

 

$

959,218

 

Commercial and multi-family real estate

 

 

1,489,823

 

 

 

1,313,284

 

Construction, land development and farmland

 

 

944,946

 

 

 

901,336

 

Commercial, industrial and agricultural

 

 

133,451

 

 

 

127,659

 

1-4 family equity lines of credit

 

 

231,108

 

 

 

202,731

 

Consumer and other

 

 

111,318

 

 

 

104,373

 

Total loans before net deferred loan fees

 

 

4,003,324

 

 

 

3,608,601

 

Net deferred loan fees

 

 

(13,950

)

 

 

(13,078

)

Total loans

 

 

3,989,374

 

 

 

3,595,523

 

Less: Allowance for credit losses

 

 

(48,042

)

 

 

(44,848

)

Net loans

 

 

3,941,332

 

 

$

3,550,675

 
Summary of Transactions in Allowance for Credit Losses

Transactions in the allowance for credit losses for the nine months ended September 30, 2024 and 2023 are summarized as follows:

 

 

 

(In Thousands)

 

 

 

Residential
1-4 Family
Real Estate

 

 

Commercial
and Multi-family Real Estate

 

 

Construction,
Land
Development
and Farmland

 

 

Commercial,
Industrial
and
Agricultural

 

 

1-4 family
Equity Lines
of Credit

 

 

Consumer
and Other

 

 

Total

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses - loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance January 1,

 

$

8,765

 

 

 

17,422

 

 

 

14,027

 

 

 

1,533

 

 

 

1,809

 

 

 

1,292

 

 

 

44,848

 

Provision for credit losses

 

 

423

 

 

 

1,860

 

 

 

788

 

 

 

19

 

 

 

63

 

 

 

410

 

 

 

3,563

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(23

)

 

 

—

 

 

 

(727

)

 

 

(750

)

Recoveries

 

 

34

 

 

 

—

 

 

 

17

 

 

 

13

 

 

 

—

 

 

 

317

 

 

 

381

 

Ending balance

 

$

9,222

 

 

$

19,282

 

 

$

14,832

 

 

$

1,542

 

 

$

1,872

 

 

$

1,292

 

 

 

48,042

 

 

 

 

 

(In Thousands)

 

 

 

Residential
1-4 Family
Real Estate

 

 

Commercial
and Multi-
family Real
Estate

 

 

Construction,
Land
Development
and
Farmland

 

 

Commercial,
Industrial
and
Agricultural

 

 

1-4 family
Equity Lines
of Credit

 

 

Consumer
and Other

 

 

Total

 

September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses - loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance January 1,

 

$

7,310

 

 

 

15,299

 

 

 

13,305

 

 

 

1,437

 

 

 

1,170

 

 

 

1,292

 

 

 

39,813

 

Provision

 

 

1,187

 

 

 

1,769

 

 

 

1,400

 

 

 

119

 

 

 

312

 

 

 

894

 

 

 

5,681

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(1,162

)

 

 

(1,162

)

Recoveries

 

 

19

 

 

 

—

 

 

 

17

 

 

 

1

 

 

 

—

 

 

 

332

 

 

 

369

 

Ending balance

 

$

8,516

 

 

 

17,068

 

 

 

14,722

 

 

 

1,557

 

 

 

1,482

 

 

 

1,356

 

 

 

44,701

 

Transactions in the allowance for credit losses for the three months ended September 30, 2024 and 2023 are summarized as follows:

 

 

 

(In Thousands)

 

 

 

Residential
1-4 Family
Real Estate

 

 

Commercial
and Multi-
family Real
Estate

 

 

Construction,
Land
Development
and Farmland

 

 

Commercial,
Industrial
and
Agricultural

 

 

1-4 family
Equity Lines
of Credit

 

 

Consumer
and Other

 

 

Total

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses - loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance July 1,

 

$

8,837

 

 

 

17,640

 

 

 

13,574

 

 

 

1,432

 

 

 

1,877

 

 

 

1,301

 

 

 

44,661

 

Provision for credit losses

 

 

377

 

 

 

1,642

 

 

 

1,248

 

 

 

119

 

 

 

(5

)

 

 

183

 

 

 

3,563

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(9

)

 

 

—

 

 

 

(266

)

 

 

(275

)

Recoveries

 

 

8

 

 

 

—

 

 

 

11

 

 

 

—

 

 

 

—

 

 

 

74

 

 

 

93

 

Ending balance

 

$

9,222

 

 

 

19,282

 

 

 

14,832

 

 

 

1,542

 

 

 

1,872

 

 

 

1,292

 

 

 

48,042

 

 

 

 

 

(In Thousands)

 

 

 

Residential
1-4 Family
Real Estate

 

 

Commercial
and Multi-
family Real
Estate

 

 

Construction,
Land
Development
and
Farmland

 

 

Commercial,
Industrial
and
Agricultural

 

 

1-4 family
Equity Lines
of Credit

 

 

Consumer
and Other

 

 

Total

 

September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Allowance for credit losses - loans:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Beginning balance July 1,

 

$

8,231

 

 

 

16,544

 

 

 

14,189

 

 

 

1,567

 

 

 

1,422

 

 

 

1,410

 

 

 

43,363

 

Provision

 

 

276

 

 

 

524

 

 

 

523

 

 

 

(11

)

 

 

60

 

 

 

269

 

 

 

1,641

 

Charge-offs

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

(430

)

 

 

(430

)

Recoveries

 

 

9

 

 

 

—

 

 

 

10

 

 

 

1

 

 

 

—

 

 

 

107

 

 

 

127

 

Ending balance

 

$

8,516

 

 

 

17,068

 

 

 

14,722

 

 

 

1,557

 

 

 

1,482

 

 

 

1,356

 

 

 

44,701

 
Schedule of Amortized Cost Basis of Collateral Dependent Loans

The following table presents the amortized cost basis of collateral dependent loans at September 30, 2024 and December 31, 2023 which are individually evaluated to determine expected credit losses:

 

 

In Thousands

 

 

 

Real Estate

 

 

Other

 

 

Total

 

September 30, 2024

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

2,325

 

 

 

—

 

 

 

2,325

 

Commercial and multi-family real estate

 

 

31,314

 

 

 

—

 

 

 

31,314

 

Construction, land development and farmland

 

 

2,537

 

 

 

—

 

 

 

2,537

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

1,408

 

 

 

—

 

 

 

1,408

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

37,584

 

 

 

—

 

 

 

37,584

 

 

 

 

In Thousands

 

 

 

Real Estate

 

 

Other

 

 

Total

 

December 31, 2023

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

1,949

 

 

 

—

 

 

 

1,949

 

Commercial and multi-family real estate

 

 

2,889

 

 

 

—

 

 

 

2,889

 

Construction, land development and farmland

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

$

4,838

 

 

 

—

 

 

 

4,838

 
Schedule of Loans on Nonaccrual Status

Loans on Nonaccrual Status

 

 

In Thousands

 

 

 

September 30,

 

 

December 31,

 

 

 

2024

 

 

2023

 

Residential 1-4 family real estate

 

$

398

 

 

$

—

 

Commercial and multi-family real estate

 

 

3,609

 

 

 

—

 

Construction, land development and farmland

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

750

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

Total

 

$

4,757

 

 

$

—

 
Schedule of Age Analysis of Past Due Loans

 

 

(In thousands)

 

 

 

30-59 Days
Past Due

 

 

60-89 Days
Past Due

 

 

Non Accrual
or Greater
Than 89 Days
Past Due

 

 

Total Non
Accrual and
Past Due

 

 

Current

 

 

Total Loans

 

 

Recorded
Investment
Greater Than
89 Days Past
Due and
Accruing

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

2,256

 

 

 

1,106

 

 

 

1,151

 

 

 

4,513

 

 

 

1,088,165

 

 

 

1,092,678

 

 

$

753

 

Commercial and multi-family real estate

 

 

1,185

 

 

 

154

 

 

 

3,609

 

 

 

4,948

 

 

 

1,484,875

 

 

 

1,489,823

 

 

 

—

 

Construction, land development and
   farmland

 

 

2,352

 

 

 

—

 

 

 

135

 

 

 

2,487

 

 

 

942,459

 

 

 

944,946

 

 

 

135

 

Commercial, industrial and agricultural

 

 

209

 

 

 

—

 

 

 

—

 

 

 

209

 

 

 

133,242

 

 

 

133,451

 

 

 

—

 

1-4 family equity lines of credit

 

 

1,540

 

 

 

83

 

 

 

877

 

 

 

2,500

 

 

 

228,608

 

 

 

231,108

 

 

 

127

 

Consumer and other

 

 

563

 

 

 

80

 

 

 

133

 

 

 

776

 

 

 

110,542

 

 

 

111,318

 

 

 

133

 

Total

 

$

8,105

 

 

 

1,423

 

 

 

5,905

 

 

 

15,433

 

 

 

3,987,891

 

 

 

4,003,324

 

 

$

1,148

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

1,544

 

 

 

552

 

 

 

1,178

 

 

 

3,274

 

 

 

955,944

 

 

 

959,218

 

 

$

1,178

 

Commercial and multi-family real estate

 

 

5,846

 

 

 

—

 

 

 

—

 

 

 

5,846

 

 

 

1,307,438

 

 

 

1,313,284

 

 

 

—

 

Construction, land development and
   farmland

 

 

2,959

 

 

 

1

 

 

 

—

 

 

 

2,960

 

 

 

898,376

 

 

 

901,336

 

 

 

—

 

Commercial, industrial and agricultural

 

 

52

 

 

 

—

 

 

 

7

 

 

 

59

 

 

 

127,600

 

 

 

127,659

 

 

 

7

 

1-4 family equity lines of credit

 

 

571

 

 

 

209

 

 

 

106

 

 

 

886

 

 

 

201,845

 

 

 

202,731

 

 

 

106

 

Consumer and other

 

 

350

 

 

 

78

 

 

 

118

 

 

 

546

 

 

 

103,827

 

 

 

104,373

 

 

 

118

 

Total

 

$

11,322

 

 

 

840

 

 

 

1,409

 

 

 

13,571

 

 

 

3,595,030

 

 

 

3,608,601

 

 

$

1,409

 
Modified Financing Receivables

 

 

(In Thousands)

 

 

 

Principal
Forgiveness

 

 

Payment
Delay

 

 

Term
Extension

 

 

Interest Rate
Reduction

 

 

Combination
Term
Extension and
Principal
Forgiveness

 

 

Combination Term Extension and Interest Rate Reduction

 

 

Total Class of Financing Receivable

 

Nine Months Ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

950

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

0.09

%

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

478

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.03

%

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Total

 

$

—

 

 

$

—

 

 

$

1,428

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

0.04

%

As of September 30, 2024, the Company has not committed to lend additional amounts to the borrowers included in the previous table.

 

 

 

(In Thousands)

 

 

 

Principal
Forgiveness

 

 

Payment
Delay

 

 

Term
Extension

 

 

Interest Rate
Reduction

 

 

Combination
Term
Extension and
Principal
Forgiveness

 

 

Combination Term Extension and Interest Rate Reduction

 

 

Total Class of Financing Receivable

 

Nine Months Ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

947

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

0.10

%

Commercial and multi-family real estate

 

 

—

 

 

 

2,423

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.20

%

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

96

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.08

%

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Total

 

$

—

 

 

$

3,370

 

 

$

96

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

0.10

%

As of September 30, 2023, the Company had not committed to lend additional amounts to the borrowers included in the previous table.

The following tables present the amortized cost basis of loans at September 30, 2024 and September 30, 2023 that were both experiencing financial difficulty and modified during the three months ended September 30, 2024 or three months ended September 30, 2023, by class and type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to each class of financing receivable is also presented below.

 

 

 

(In Thousands)

 

 

 

Principal
Forgiveness

 

 

Payment
Delay

 

 

Term
Extension

 

 

Interest Rate
Reduction

 

 

Combination
Term
Extension and
Principal
Forgiveness

 

 

Combination Term Extension and Interest Rate Reduction

 

 

Total Class of Financing Receivable

 

Three Months Ended September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

—

%

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

478

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

0.03

%

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Total

 

$

—

 

 

$

—

 

 

$

478

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

0.01

%

 

 

 

 

(In Thousands)

 

 

 

Principal
Forgiveness

 

 

Payment
Delay

 

 

Term
Extension

 

 

Interest Rate
Reduction

 

 

Combination
Term
Extension and
Principal
Forgiveness

 

 

Combination Term Extension and Interest Rate Reduction

 

 

Total Class of Financing Receivable

 

Three Months Ended September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

—

%

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

%

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

—

%

 

 

In Thousands

 

 

 

30-59 Days Past Due

 

 

60-89 Days Past Due

 

 

Greater Than 89 Days Past Due

 

 

Total Past Due

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

As evidenced above, no loans that were modified within the twelve months prior to September 30, 2024 were thirty (30) days or more past due at September 30, 2024.

The following table presents the performance of such loans that have been modified for the nine months ended September 30, 2023:

 

 

 

In Thousands

 

 

 

30-59 Days Past Due

 

 

60-89 Days Past Due

 

 

Greater Than 89 Days Past Due

 

 

Total Past Due

 

September 30, 2023

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

As evidenced above, no loans that were modified within the nine months prior to September 30, 2023 were thirty (30) days or more past due at September 30, 2023.

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the nine months ended September 30, 2024 and 2023 (dollars in thousands):

 

 

 

Nine Months Ended September 30, 2024

 

 

Nine Months Ended September 30, 2023

 

 

 

Principal
Forgiveness

 

 

Weighted-Average
Interest Rate Reduction

 

 

Weighted-Average Months of Term Extension

 

 

Principal
Forgiveness

 

 

Weighted-Average
Interest Rate Reduction

 

 

Weighted-Average Months of Term Extension

 

Residential 1-4 family real estate

 

$

—

 

 

 

—

%

 

 

6

 

 

$

—

 

 

 

—

%

 

$

—

 

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

12

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

37

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

 

—

%

 

 

18

 

 

$

—

 

 

 

—

%

 

 

37

 

 

 

Three Months Ended September 30, 2024

 

 

Three Months Ended September 30, 2023

 

 

 

Principal
Forgiveness

 

 

Weighted-Average
Interest Rate Reduction

 

 

Weighted-Average Months of Term Extension

 

 

Principal
Forgiveness

 

 

Weighted-Average
Interest Rate Reduction

 

 

Weighted-Average Months of Term Extension

 

Residential 1-4 family real estate

 

$

—

 

 

 

—

%

 

 

—

 

 

$

—

 

 

 

—

%

 

 

—

 

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

12

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

 

—

%

 

 

12

 

 

$

—

 

 

 

—

%

 

 

—

 

 

 

Three Months Ended September 30, 2024

 

 

Nine Months Ended September 30, 2024

 

 

 

Principal Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate Reduction

 

 

Principal Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate Reduction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

 

Three Months Ended September 30, 2023

 

 

Nine Months Ended September 30, 2023

 

 

 

Principal Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate Reduction

 

 

Principal Forgiveness

 

 

Payment Delay

 

 

Term Extension

 

 

Interest Rate Reduction

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

Commercial and multi-family real estate

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and
   farmland

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

1-4 family equity lines of credit

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 

 

$

—

 
Schedule of Loan Portfolio by Risk Rating

The table below presents loan balances classified within each risk rating category by primary loan type and based on year of origination as of September 30, 2024:

 

 

 

In Thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

225,338

 

 

 

134,753

 

 

 

283,195

 

 

 

226,476

 

 

 

77,648

 

 

 

123,992

 

 

 

12,678

 

 

 

1,084,080

 

Special mention

 

 

951

 

 

 

1,071

 

 

 

1,375

 

 

 

246

 

 

 

853

 

 

 

2,904

 

 

 

—

 

 

 

7,400

 

Substandard

 

 

—

 

 

 

—

 

 

 

379

 

 

 

376

 

 

 

—

 

 

 

369

 

 

 

74

 

 

 

1,198

 

Total Residential 1-4 family real estate

 

$

226,289

 

 

 

135,824

 

 

 

284,949

 

 

 

227,098

 

 

 

78,501

 

 

 

127,265

 

 

 

12,752

 

 

 

1,092,678

 

Residential 1-4 family real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial and multi-family real estate

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

206,279

 

 

 

111,799

 

 

 

314,215

 

 

 

377,127

 

 

 

133,535

 

 

 

262,941

 

 

 

51,820

 

 

 

1,457,716

 

Special mention

 

 

—

 

 

 

—

 

 

 

23,228

 

 

 

—

 

 

 

713

 

 

 

419

 

 

 

—

 

 

 

24,360

 

Substandard

 

 

—

 

 

 

3,609

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

4,138

 

 

 

—

 

 

 

7,747

 

Total Commercial and multi-family real
   estate

 

$

206,279

 

 

 

115,408

 

 

 

337,443

 

 

 

377,127

 

 

 

134,248

 

 

 

267,498

 

 

 

51,820

 

 

 

1,489,823

 

Commercial and multi-family real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and
   farmland

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

211,227

 

 

 

227,456

 

 

 

182,378

 

 

 

70,561

 

 

 

15,019

 

 

 

14,103

 

 

 

220,866

 

 

 

941,610

 

Special mention

 

 

—

 

 

 

439

 

 

 

135

 

 

 

33

 

 

 

—

 

 

 

48

 

 

 

2,550

 

 

 

3,205

 

Substandard

 

 

—

 

 

 

—

 

 

 

131

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

131

 

Total Construction, land development
   and farmland

 

$

211,227

 

 

 

227,895

 

 

 

182,644

 

 

 

70,594

 

 

 

15,019

 

 

 

14,151

 

 

 

223,416

 

 

 

944,946

 

Construction, land development and
   farmland:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

12,777

 

 

 

13,563

 

 

 

30,534

 

 

 

5,451

 

 

 

10,242

 

 

 

22,100

 

 

 

38,396

 

 

 

133,063

 

Special mention

 

 

90

 

 

 

115

 

 

 

34

 

 

 

12

 

 

 

—

 

 

 

—

 

 

 

106

 

 

 

357

 

Substandard

 

 

—

 

 

 

—

 

 

 

18

 

 

 

—

 

 

 

13

 

 

 

—

 

 

 

—

 

 

 

31

 

Total Commercial, industrial and
   agricultural

 

$

12,867

 

 

 

13,678

 

 

 

30,586

 

 

 

5,463

 

 

 

10,255

 

 

 

22,100

 

 

 

38,502

 

 

 

133,451

 

Commercial, industrial and agricultural:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

19

 

 

 

4

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

23

 

1-4 family equity lines of credit

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

228,597

 

 

 

228,597

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

2,304

 

 

 

2,304

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

207

 

 

 

207

 

Total 1-4 family equity lines of credit

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

231,108

 

 

 

231,108

 

1-4 family equity lines of credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

26,028

 

 

 

18,403

 

 

 

8,882

 

 

 

3,105

 

 

 

12,901

 

 

 

9,486

 

 

 

32,153

 

 

 

110,958

 

Special mention

 

 

4

 

 

 

76

 

 

 

116

 

 

 

37

 

 

 

35

 

 

 

14

 

 

 

1

 

 

 

283

 

Substandard

 

 

2

 

 

 

28

 

 

 

34

 

 

 

13

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

77

 

Total Consumer and other

 

$

26,034

 

 

 

18,507

 

 

 

9,032

 

 

 

3,155

 

 

 

12,936

 

 

 

9,500

 

 

 

32,154

 

 

 

111,318

 

Consumer and other:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

8

 

 

 

133

 

 

 

126

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

453

 

 

 

727

 

 

 

In Thousands

 

 

 

2024

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

September 30, 2024

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

681,649

 

 

 

505,974

 

 

 

819,204

 

 

 

682,720

 

 

 

249,345

 

 

 

432,622

 

 

 

584,510

 

 

 

3,956,024

 

Special mention

 

 

1,045

 

 

 

1,701

 

 

 

24,888

 

 

 

328

 

 

 

1,601

 

 

 

3,385

 

 

 

4,961

 

 

 

37,909

 

Substandard

 

 

2

 

 

 

3,637

 

 

 

562

 

 

 

389

 

 

 

13

 

 

 

4,507

 

 

 

281

 

 

 

9,391

 

Total

 

$

682,696

 

 

 

511,312

 

 

 

844,654

 

 

 

683,437

 

 

 

250,959

 

 

 

440,514

 

 

 

589,752

 

 

 

4,003,324

 

 

 

In Thousands

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Revolving

 

 

 

 

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Loans

 

 

Total

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Residential 1-4 family real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

165,655

 

 

 

297,535

 

 

 

239,035

 

 

 

89,563

 

 

 

56,092

 

 

 

90,119

 

 

 

16,585

 

 

 

954,584

 

Special mention

 

 

76

 

 

 

859

 

 

 

225

 

 

 

876

 

 

 

137

 

 

 

1,558

 

 

 

—

 

 

 

3,731

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

128

 

 

 

775

 

 

 

—

 

 

 

903

 

Total Residential 1-4 family real estate

 

$

165,731

 

 

 

298,394

 

 

 

239,260

 

 

 

90,439

 

 

 

56,357

 

 

 

92,452

 

 

 

16,585

 

 

 

959,218

 

Residential 1-4 family real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial and multi-family real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

103,050

 

 

 

321,767

 

 

 

378,418

 

 

 

143,178

 

 

 

91,640

 

 

 

217,645

 

 

 

57,320

 

 

 

1,313,018

 

Special mention

 

 

—

 

 

 

—

 

 

 

155

 

 

 

—

 

 

 

—

 

 

 

31

 

 

 

—

 

 

 

186

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

80

 

 

 

—

 

 

 

80

 

Total Commercial and multi-family real estate

 

$

103,050

 

 

 

321,767

 

 

 

378,573

 

 

 

143,178

 

 

 

91,640

 

 

 

217,756

 

 

 

57,320

 

 

 

1,313,284

 

Commercial and multi-family real estate:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Construction, land development and farmland:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

231,337

 

 

 

306,056

 

 

 

99,456

 

 

 

26,710

 

 

 

7,586

 

 

 

10,141

 

 

 

219,999

 

 

 

901,285

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

51

 

 

 

—

 

 

 

51

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Construction, land development and farmland

 

$

231,337

 

 

 

306,056

 

 

 

99,456

 

 

 

26,710

 

 

 

7,586

 

 

 

10,192

 

 

 

219,999

 

 

 

901,336

 

Construction, land development and farmland:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Commercial, industrial and agricultural:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

16,811

 

 

 

34,507

 

 

 

7,460

 

 

 

12,272

 

 

 

17,066

 

 

 

7,593

 

 

 

31,832

 

 

 

127,541

 

Special mention

 

 

93

 

 

 

7

 

 

 

6

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

12

 

 

 

118

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total Commercial, industrial and agricultural

 

$

16,904

 

 

 

34,514

 

 

 

7,466

 

 

 

12,272

 

 

 

17,066

 

 

 

7,593

 

 

 

31,844

 

 

 

127,659

 

Commercial, industrial and agricultural:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

30

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

30

 

1-4 family equity lines of credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

202,189

 

 

 

202,189

 

Special mention

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

404

 

 

 

404

 

Substandard

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

138

 

 

 

138

 

Total 1-4 family equity lines of credit

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

202,731

 

 

 

202,731

 

1-4 family equity lines of credit:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Consumer and other:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

27,998

 

 

 

15,511

 

 

 

5,331

 

 

 

14,497

 

 

 

4,728

 

 

 

6,381

 

 

 

29,638

 

 

 

104,084

 

Special mention

 

 

4

 

 

 

52

 

 

 

57

 

 

 

7

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

120

 

Substandard

 

 

51

 

 

 

106

 

 

 

—

 

 

 

11

 

 

 

—

 

 

 

1

 

 

 

—

 

 

 

169

 

Total Consumer and other

 

$

28,053

 

 

 

15,669

 

 

 

5,388

 

 

 

14,515

 

 

 

4,728

 

 

 

6,382

 

 

 

29,638

 

 

 

104,373

 

Consumer and other:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Current-period gross charge-offs

 

$

1,843

 

 

 

213

 

 

 

98

 

 

 

22

 

 

 

—

 

 

 

1

 

 

 

151

 

 

 

2,328

 

 

 

In Thousands

 

 

 

2023

 

 

2022

 

 

2021

 

 

2020

 

 

2019

 

 

Prior

 

 

Revolving Loans

 

 

Total

 

December 31, 2023

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

$

544,851

 

 

$

975,376

 

 

$

729,700

 

 

$

286,220

 

 

$

177,112

 

 

$

331,879

 

 

$

557,563

 

 

 

3,602,701

 

Special mention

 

 

173

 

 

 

918

 

 

 

443

 

 

 

883

 

 

 

137

 

 

 

1,640

 

 

 

416

 

 

 

4,610

 

Substandard

 

 

51

 

 

 

106

 

 

 

—

 

 

 

11

 

 

 

128

 

 

 

856

 

 

 

138

 

 

 

1,290

 

Total

 

$

545,075

 

 

 

976,400

 

 

 

730,143

 

 

 

287,114

 

 

 

177,377

 

 

 

334,375

 

 

 

558,117

 

 

 

3,608,601