Loans and Allowance for Credit Losses - Loans (Tables)

12 Months Ended

Dec. 31, 2023

Loans and Allowance for Credit Losses - Loans

Schedule of major categories of loans

	December 31,
(dollars in thousands)	2023		2022
Loans Secured by Real Estate
Construction and land	$	4,636	$	4,499
Farmland		325		333
Single-family residential		86,887		80,251
Multi-family		5,165		5,304
Commercial		39,217		42,936
Total loans secured by real estate		136,230		133,323
Commercial and Industrial
Commercial and industrial		10,850		8,990
SBA guaranty		5,924		6,158
Total commercial and industrial loans		16,774		15,148
Consumer Loans
Consumer		2,039		1,521
Automobile		21,264		36,448
Total consumer loans		23,303		37,969
Loans, net of deferred fees and costs		176,307		186,440
Less: Allowance for credit losses		(2,157)		(2,162)
Loans, net	$	174,150	$	184,278

Schedule of activity due from directors and other related parties

	December 31,
(dollars in thousands)	2023		2022
Balance at beginning of year	$	—	$	—
Additions		150		1,078
Repayments		—		(1,078)
Balance at end of year	$	150	$	—

Schedule of total allowance by loan segment

	Loans Secured By Real Estate										Commercial and Industrial Loans						Consumer Loans
December 31, 2023	Construction				Single-family						Commercial				Commercial
(dollars in thousands)	and Land		Farmland		Residential		Multi-family		Commercial		and Industrial		SBA Guaranty		SBA PPP		Consumer		Automobile		Total
Balance, beginning of year	$	44	$	20	$	1,230	$	103	$	221	$	174	$	22	$	—	$	23	$	325	$	2,162
Charge-offs		—		—		—		—		—		—		—		—		(79)		(124)		(203)
Recoveries		—		—		—		—		—		—		—		—		1		101		102
Release for credit losses		(13)		(2)		60		(7)		(31)		130		(1)		—		85		(125)		96
Balance, end of year	$	31	$	18	$	1,290	$	96	$	190	$	304	$	21	$	—	$	30	$	177	$	2,157
Individually evaluated for impairment:
Balance in allowance	$	—	$	—	$	21	$	—	$	—	$	179	$	—	$	—	$	—	$	—	$	200
Related loan balance		—		—		30		—		—		299		—		—		—		—		329
Collectively evaluated for impairment:
Balance in allowance	$	31	$	18	$	1,269	$	96	$	190	$	125	$	21	$	—	$	30	$	177	$	1,957
Related loan balance		4,636		325		86,857		5,165		39,217		10,551		5,924		—		2,039		21,264		175,978

	Loans Secured By Real Estate										Commercial and Industrial Loans						Consumer Loans
December 31, 2022	Construction				Single-family						Commercial				Commercial
(dollars in thousands)	and Land		Farmland		Residential		Multi-family		Commercial		and Industrial		SBA Guaranty		SBA PPP		Consumer		Automobile		Total
Balance, beginning of year	$	5	$	11	$	1,357	$	105	$	278	$	115	$	30	$	—	$	36	$	533	$	2,470
Charge-offs		—		—		—		—		—		(200)		(9)		—		(14)		(169)		(392)
Recoveries		—		—		—		—		—		—		—		—		8		188		196
Release for credit losses		39		9		(127)		(2)		(57)		259		1		—		(7)		(227)		(112)
Balance, end of year	$	44	$	20	$	1,230	$	103	$	221	$	174	$	22	$	—	$	23	$	325	$	2,162
Individually evaluated for impairment:
Balance in allowance	$	—	$	—	$	20	$	—	$	—	$	59	$	—	$	—	$	—	$	—	$	79
Related loan balance		—		—		34		—		—		300		—		—		—		—		334
Collectively evaluated for impairment:
Balance in allowance	$	44	$	20	$	1,210	$	103	$	221	$	115	$	22	$	—	$	23	$	325	$	2,083
Related loan balance		4,499		333		80,217		5,304		42,936		8,690		6,158		—		1,521		36,448		186,106

Schedule of current period gross charge-offs by the year of origination

	Gross Charge-offs
December 31, 2023	Term Loans by Origination Year												Revolving
(dollars in thousands)	2023		2022		2021		2020		2019		Prior		Loans		Total
Consumer Loans
Consumer	$	—	$	—	$	—	$	—	$	—	$	79	$	—	$	79
Automobile						47		43		27		7				124
Total gross charge-offs this period	$	—	$	—	$	47	$	43	$	27	$	86	$	—	$	203

Schedule of non accrual loans

The following table rolls forward the Company’s activity for nonaccrual loans during the years 2023 and 2022:

	Loans Secured By Real Estate						Commercial and Industrial Loans				Consumer Loans
	Single-family						Commercial
	Residential		Multi-family		Commercial		and Industrial		SBA Guaranty		Consumer		Automobile			Total
(dollars in thousands)
December 31, 2021	$	123	$	—	$	—	$	—	$	71	$	—	$	144	$	338
Transfers into nonaccrual		31				—		502		—		11		207		751
Loans paid down/payoffs		(50)	$	—		—		(3)	$	(61)		(11)		(105)		(230)
Loans returned to accrual status		—		—		—		—		—		—		(29)		(29)
Loans charged off		—		—		—		(200)		(10)		—		(132)		(342)
December 31, 2022	$	104	$	—	$	—	$	299	$	—	$	—	$	85	$	488
Transfers into nonaccrual		307		—		—		—		—		—		175		482
Loans paid down/payoffs		(266)	$	—		—		—	$	—		—		(35)		(301)
Loans returned to accrual status		—		—		—		—		—		—		(19)		(19)
Loans charged off		—		—		—						—		(124)		(124)
December 31, 2023	$	145	$	—	$	—	$	299	$	—	$	—	$	83	$	527

Schedule of risk ratings of loans by categories of loans

	Loans Secured By Real Estate										Commercial and Industrial Loans						Consumer Loans
December 31, 2023	Construction				Single-family						Commercial				Commercial
(dollars in thousands)	and Land		Farmland		Residential		Multi-family		Commercial		and Industrial		SBA Guaranty		SBA PPP		Consumer		Automobile		Total
Pass	$	4,636	$	325	$	86,743	$	5,165	$	39,217	$	10,551	$	5,924	$	—	$	2,039	$	21,110	$	175,709
Special mention		—		—		—		—		—		—		—		—		—		—		—
Substandard		—		—		145		—		—		299		—		—		—		154		598
Doubtful		—		—		—		—		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—		—		—		—		—
	$	4,636	$	325	$	86,887	$	5,165	$	39,217	$	10,850	$	5,924	$	—	$	2,039	$	21,264	$	176,307
Nonaccrual	$	—	$	—	$	145	$	—	$	—	$	299	$	—	$	—	$	—	$	83	$	527
Restructured loans to borrowers with financial difficulty	$	—	$	—	$	30	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	30
Number restructured loans to borrowers with financial difficulty		—		—		1		—		—		—		—		—		—		—		1
Non-performing restructured loans to borrowers with financial difficulty	$	—	$	—	$	30	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	30
Number of non-performing restructured loan accounts		—		—		1		—		—		—		—		—		—		—		1

	Loans Secured By Real Estate										Commercial and Industrial Loans						Consumer Loans
December 31, 2022	Construction				Single-family						Commercial				Commercial
(dollars in thousands)	and Land		Farmland		Residential		Multi-family		Commercial		and Industrial		SBA Guaranty		SBA PPP		Consumer		Automobile		Total
Pass	$	4,499	$	333	$	80,147	$	5,304	$	42,936	$	8,691	$	6,158	$	—	$	1,521	$	36,363	$	185,952
Special mention		—		—		—		—		—		—		—		—		—		—		—
Substandard		—		—		104		—		—		299		—		—		—		80		483
Doubtful		—		—		—		—		—		—		—		—		—		5		5
Loss		—		—		—		—		—		—		—		—		—		—		—
	$	4,499	$	333	$	80,251	$	5,304	$	42,936	$	8,990	$	6,158	$	—	$	1,521	$	36,448	$	186,440
Nonaccrual	$	—	$	—	$	104	$	—	$	—	$	299	$	—	$	—	$	—	$	85	$	488
Restructured loans to borrowers with financial difficulty	$	—	$	—	$	34	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	34
Number restructured loans to borrowers with financial difficulty		—		—		1		—		—		—		—		—		—		—		1
Non-performing restructured loans to borrowers with financial difficulty	$	—	$	—	$	34	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	34
Number of non-performing restructured loan accounts		—		—		1		—		—		—		—		—		—		—		1

Schedule of information about credit quality indicators

The following tables provide information about credit quality indicators by the year of origination at December 31, 2023 and 2022:

	Origination Year
December 31, 2023	2023		2022		2021		2020		2019		Prior		Total
(dollars in thousands)
Loans Secured By Real Estate:
Pass	$	15,316	$	12,507	$	16,675	$	9,739	$	9,457	$	72,391	$	136,085
Special mention		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		145		145
Doubtful		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—
	$	15,316	$	12,507	$	16,675	$	9,739	$	9,457	$	72,536	$	136,230
Commercial and Industrial Loans:
Pass	$	3,515	$	1,099	$	153	$	3,834	$	711	$	7,163	$	16,475
Special mention		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—
Nonaccrual		—		—		299		—		—		—		299
Doubtful		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—
	$	3,515	$	1,099	$	452	$	3,834	$	711	$	7,163	$	16,774
Consumer Loans:
Pass	$	2,140	$	4,598	$	5,697	$	3,364	$	3,481	$	3,940	$	23,220
Special mention		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—
Nonaccrual		—		27		40		9		—		7		83
Doubtful		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—
	$	2,140	$	4,625	$	5,737	$	3,373	$	3,481	$	3,947	$	23,303

	Origination Year
December 31, 2022	2022		2021		2020		2019		2018		Prior		Total
(dollars in thousands)
Loans Secured By Real Estate:
Pass	$	11,941	$	17,685	$	10,337	$	9,852	$	12,670	$	70,734	$	133,219
Special mention		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—
Nonaccrual		—		—		—		—		—		104		104
Doubtful		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—
	$	11,941	$	17,685	$	10,337	$	9,852	$	12,670	$	70,838	$	133,323
Commercial and Industrial Loans:
Pass	$	1,468	$	449	$	4,056	$	875	$	3,581	$	4,420	$	14,849
Special mention		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—
Nonaccrual		—		299		—		—		—		—		299
Doubtful		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—
	$	1,468	$	748	$	4,056	$	875	$	3,581	$	4,420	$	15,148
Consumer Loans:
Pass	$	6,573	$	8,632	$	5,187	$	6,792	$	8,113	$	2,587	$	37,884
Special mention		—		—		—		—		—		—		—
Substandard		—		—		—		—		—		—		—
Nonaccrual		—		27		13		—		40		5		85
Doubtful		—		—		—		—		—		—		—
Loss		—		—		—		—		—		—		—
	$	6,573	$	8,659	$	5,200	$	6,792	$	8,153	$	2,592	$	37,969

Schedule of current, past due, and non-accrual loans by categories of loans and restructured loans

					90 Days or
			30-89 Days		More and
December 31, 2023	Current		Past Due		Still Accruing		Nonaccrual		Total
(dollars in thousands)
Loans Secured by Real Estate
Construction and land	$	4,636	$	—	$	—	$	—	$	4,636
Farmland		325		—		—		—		325
Single-family residential		86,233		509		—		145		86,887
Multi-family		5,165		—		—		—		5,165
Commercial		39,217		—		—		—		39,217
Total loans secured by real estate		135,576		509		—		145		136,230
Commercial and Industrial
Commercial and industrial		10,551		—		—		299		10,850
SBA guaranty		5,924		—		—		—		5,924
Comm SBA PPP		—		—		—		—		—
Total commercial and industrial loans		16,475		—		—		299		16,774
Consumer Loans
Consumer		1,981		58		—		—		2,039
Automobile		20,794		387		—		83		21,264
Total consumer loans		22,775		445		—		83		23,303
	$	174,826	$	954	$	—	$	527	$	176,307

					90 Days or
			30-89 Days		More and
December 31, 2022	Current		Past Due		Still Accruing		Nonaccrual		Total
(dollars in thousands)
Loans Secured by Real Estate
Construction and land	$	4,499	$	—	$	—	$	—	$	4,499
Farmland		333		—		—		—		333
Single-family residential		79,952		185		10		104		80,251
Multi-family		5,304		—		—		—		5,304
Commercial		42,936		—		—		—		42,936
Total loans secured by real estate		133,024		185		10		104		133,323
Commercial and Industrial
Commercial and industrial		8,691		—		—		299		8,990
SBA guaranty		6,158		—		—		—		6,158
Comm SBA PPP		—		—		—		—		—
Total commercial and industrial loans		14,849		—		—		299		15,148
Consumer Loans
Consumer		1,521		—		—		—		1,521
Automobile		36,037		326		—		85		36,448
Total consumer loans		37,558		326		—		85		37,969
	$	185,431	$	511	$	10	$	488	$	186,440