XML 35 R26.htm IDEA: XBRL DOCUMENT v3.22.1
Allowance for Loan Losses (Tables)
 3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Changes in Allowance for Loan Losses

The following tables show the change in the allowance for loan losses by loan segment for the three months ended March 31, 2022 and 2021, respectively:

 

Commercial

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

2,429

 

 

$

2,753

 

Provision for (recovery of) loan losses

 

 

190

 

 

 

(87

)

Charge-offs

 

 

—

 

 

 

(118

)

Recoveries

 

 

7

 

 

 

7

 

Net (charge-offs) recoveries

 

 

7

 

 

 

(111

)

Balance at end of period

 

$

2,626

 

 

$

2,555

 

 

 

Non-Commercial

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

1,597

 

 

$

1,649

 

Provision for (recovery of) loan losses

 

 

(72

)

 

 

53

 

Charge-offs

 

 

(6

)

 

 

(20

)

Recoveries

 

 

11

 

 

 

15

 

Net (charge-offs) recoveries

 

 

5

 

 

 

(5

)

Balance at end of period

 

$

1,530

 

 

$

1,697

 

 

Total

 

Three Months Ended March 31,

 

 

 

2022

 

 

2021

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Balance, beginning of period

 

$

4,026

 

 

$

4,402

 

Provision for (recovery of) loan losses

 

 

118

 

 

 

(34

)

Charge-offs

 

 

(6

)

 

 

(138

)

Recoveries

 

 

18

 

 

 

22

 

Net (charge-offs) recoveries

 

 

12

 

 

 

(116

)

Balance at end of period

 

$

4,156

 

 

$

4,252

 
Schedule of Loans and Reserve Balances by Loan Segment Both Individually and Collectively Evaluated for Impairment

The following tables show period-end loans and reserve balances by loan segment both individually and collectively evaluated for impairment at March 31, 2022 and December 31, 2021:

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually Evaluated

 

 

Collectively Evaluated

 

 

Total

 

 

 

Reserve

 

 

Loans

 

 

Reserve

 

 

Loans

 

 

Reserve

 

 

Loans

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

130

 

 

$

2,146

 

 

$

2,496

 

 

$

288,416

 

 

$

2,626

 

 

$

290,562

 

Non-Commercial

 

 

113

 

 

 

1,945

 

 

 

1,417

 

 

 

153,417

 

 

 

1,530

 

 

 

155,362

 

Total

 

$

243

 

 

$

4,091

 

 

$

3,913

 

 

$

441,833

 

 

$

4,156

 

 

$

445,924

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Individually Evaluated

 

 

Collectively Evaluated

 

 

Total

 

 

 

Reserve

 

 

Loans

 

 

Reserve

 

 

Loans

 

 

Reserve

 

 

Loans

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

102

 

 

$

2,573

 

 

$

2,327

 

 

$

269,876

 

 

$

2,429

 

 

$

272,449

 

Non-Commercial

 

 

112

 

 

 

2,135

 

 

 

1,485

 

 

 

146,195

 

 

 

1,597

 

 

 

148,330

 

Total

 

$

214

 

 

$

4,708

 

 

$

3,812

 

 

$

416,071

 

 

$

4,026

 

 

$

420,779

 
Past Due Information of Loan Portfolio by Class

Past due loan information is used by management when assessing the adequacy of the allowance for loan losses. The following tables summarize the past due information of the loan portfolio by class as of the dates indicated:

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

30-89 Days

Past Due

 

 

Loans

90 Days

or More

Past due and

and Non-accrual

 

 

Total Past

Due Loans

 

 

Current

Loans

 

 

Total

Loans

 

 

Accruing

Loans 90 or

More Days

Past Due

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

122

 

 

$

381

 

 

$

503

 

 

$

79,620

 

 

$

80,123

 

 

$

—

 

SBA Paycheck Protection Program (PPP)

 

 

9

 

 

 

—

 

 

 

9

 

 

 

7,590

 

 

 

7,599

 

 

 

—

 

Real estate - commercial

 

 

127

 

 

 

286

 

 

 

413

 

 

 

154,321

 

 

 

154,734

 

 

 

—

 

Other real estate construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

42,713

 

 

 

42,713

 

 

 

—

 

Real estate 1-4 family construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,927

 

 

 

8,927

 

 

 

—

 

Real estate - residential

 

 

211

 

 

 

163

 

 

 

374

 

 

 

84,355

 

 

 

84,729

 

 

 

—

 

Home equity

 

 

19

 

 

 

31

 

 

 

50

 

 

 

52,616

 

 

 

52,666

 

 

 

—

 

Consumer loans

 

 

38

 

 

 

—

 

 

 

38

 

 

 

9,002

 

 

 

9,040

 

 

 

—

 

Other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,393

 

 

 

5,393

 

 

 

—

 

Total

 

$

526

 

 

$

861

 

 

$

1,387

 

 

$

444,537

 

 

$

445,924

 

 

$

—

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loans

30-89 Days

Past Due

 

 

Loans

90 Days

or More

Past due and

and Non-accrual

 

 

Total Past

Due Loans

 

 

Current

Loans

 

 

Total

Loans

 

 

Accruing

Loans 90 or

More Days

Past Due

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

201

 

 

$

310

 

 

$

511

 

 

$

72,524

 

 

$

73,035

 

 

$

—

 

SBA Paycheck Protection Program (PPP)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,100

 

 

 

15,100

 

 

 

—

 

Real estate - commercial

 

 

127

 

 

 

292

 

 

 

419

 

 

 

150,124

 

 

 

150,543

 

 

 

—

 

Other real estate construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

28,275

 

 

 

28,275

 

 

 

—

 

Real estate 1-4 family construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,424

 

 

 

8,424

 

 

 

—

 

Real estate - residential

 

 

559

 

 

 

337

 

 

 

896

 

 

 

78,428

 

 

 

79,324

 

 

 

—

 

Home equity

 

 

—

 

 

 

33

 

 

 

33

 

 

 

50,970

 

 

 

51,003

 

 

 

—

 

Consumer loan

 

 

27

 

 

 

—

 

 

 

27

 

 

 

9,552

 

 

 

9,579

 

 

 

—

 

Other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,496

 

 

 

5,496

 

 

 

—

 

Total

 

$

914

 

 

$

972

 

 

$

1,886

 

 

$

418,893

 

 

$

420,779

 

 

$

—

 
Composition of Nonaccrual Loans by Class

The composition of non-accrual loans by class as of March 31, 2022 and December 31, 2021 was as follows:

 

 

 

March 31, 2022

 

 

December 31, 2021

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

381

 

 

$

310

 

SBA Paycheck Protection Program (PPP)

 

 

—

 

 

 

—

 

Real estate - commercial

 

 

286

 

 

 

292

 

Other real estate construction

 

 

—

 

 

 

—

 

Real estate 1 – 4 family construction

 

 

—

 

 

 

—

 

Real estate – residential

 

 

163

 

 

 

337

 

Home equity

 

 

31

 

 

 

33

 

Consumer loans

 

 

—

 

 

 

—

 

Other loans

 

 

—

 

 

 

—

 

 

 

$

861

 

 

$

972

 
Summary of Risk Grades of Portfolio by Class

The tables below summarize risk grades of the loan portfolio by class at March 31, 2022 and December 31, 2021:

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

 

Watch

 

 

Sub-

standard

 

 

Doubtful

 

 

Total

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

77,787

 

 

$

1,955

 

 

$

381

 

 

$

—

 

 

$

80,123

 

SBA Paycheck Protection Program (PPP)

 

 

7,599

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

7,599

 

Real estate - commercial

 

 

151,465

 

 

 

2,983

 

 

 

286

 

 

 

—

 

 

 

154,734

 

Other real estate construction

 

 

42,405

 

 

 

54

 

 

 

254

 

 

 

—

 

 

 

42,713

 

Real estate 1 - 4 family construction

 

 

8,927

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,927

 

Real estate - residential

 

 

82,640

 

 

 

1,530

 

 

 

559

 

 

 

—

 

 

 

84,729

 

Home equity

 

 

52,487

 

 

 

148

 

 

 

31

 

 

 

—

 

 

 

52,666

 

Consumer loans

 

 

9,001

 

 

 

39

 

 

 

—

 

 

 

—

 

 

 

9,040

 

Other loans

 

 

5,393

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,393

 

Total

 

$

437,704

 

 

$

6,709

 

 

$

1,511

 

 

$

—

 

 

$

445,924

 

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Pass

 

 

Watch

 

 

Sub-

standard

 

 

Doubtful

 

 

Total

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

70,235

 

 

$

2,490

 

 

$

310

 

 

$

—

 

 

$

73,035

 

SBA Paycheck Protection Program (PPP)

 

 

15,100

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

15,100

 

Real estate - commercial

 

 

145,084

 

 

 

4,387

 

 

 

1,072

 

 

 

—

 

 

 

150,543

 

Other real estate construction

 

 

27,966

 

 

 

55

 

 

 

254

 

 

 

—

 

 

 

28,275

 

Real estate 1 - 4 family construction

 

 

8,424

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

8,424

 

Real estate - residential

 

 

76,430

 

 

 

2,157

 

 

 

737

 

 

 

—

 

 

 

79,324

 

Home equity

 

 

50,672

 

 

 

298

 

 

 

33

 

 

 

—

 

 

 

51,003

 

Consumer loans

 

 

9,538

 

 

 

41

 

 

 

—

 

 

 

—

 

 

 

9,579

 

Other loans

 

 

5,496

 

 

 

—

 

 

 

—

 

 

 

—

 

 

 

5,496

 

Total

 

$

408,945

 

 

$

9,428

 

 

$

2,406

 

 

$

—

 

 

$

420,779

 
Summary of Performing and Nonperforming Loans by Class The following tables show the breakdown between performing and nonperforming loans by class at March 31, 2022 and December 31, 2021:

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

Non-

Performing

 

 

Total

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

79,742

 

 

$

381

 

 

$

80,123

 

SBA Paycheck Protection Program (PPP)

 

 

7,599

 

 

 

—

 

 

 

7,599

 

Real estate - commercial

 

 

154,448

 

 

 

286

 

 

 

154,734

 

Other real estate construction

 

 

42,713

 

 

 

—

 

 

 

42,713

 

Real estate 1 – 4 family construction

 

 

8,927

 

 

 

—

 

 

 

8,927

 

Real estate – residential

 

 

84,566

 

 

 

163

 

 

 

84,729

 

Home equity

 

 

52,635

 

 

 

31

 

 

 

52,666

 

Consumer loans

 

 

9,040

 

 

 

—

 

 

 

9,040

 

Other loans

 

 

5,393

 

 

 

—

 

 

 

5,393

 

Total

 

$

445,063

 

 

$

861

 

 

$

445,924

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Performing

 

 

Non-

Performing

 

 

Total

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

72,725

 

 

$

310

 

 

$

73,035

 

SBA Paycheck Protection Program (PPP)

 

 

15,100

 

 

 

—

 

 

 

15,100

 

Real estate - commercial

 

 

150,251

 

 

 

292

 

 

 

150,543

 

Other real estate construction

 

 

28,275

 

 

 

—

 

 

 

28,275

 

Real estate 1 – 4 family construction

 

 

8,424

 

 

 

—

 

 

 

8,424

 

Real estate – residential

 

 

78,987

 

 

 

337

 

 

 

79,324

 

Home equity

 

 

50,970

 

 

 

33

 

 

 

51,003

 

Consumer loans

 

 

9,579

 

 

 

—

 

 

 

9,579

 

Other loans

 

 

5,496

 

 

 

—

 

 

 

5,496

 

Total

 

$

419,807

 

 

$

972

 

 

$

420,779

 
Summary of Loans Deemed Impaired and Specific Reserves Allocated by Class The tables below summarize the loans deemed impaired and the amount of specific reserves allocated by class at March 31, 2022 and December 31, 2021.

 

March 31, 2022

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unpaid

Principal

Balance

 

 

Recorded

Investment

With No

Allowance

 

 

Recorded

Investment

With

Allowance

 

 

Related

Allowance

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

977

 

 

$

—

 

 

$

977

 

 

$

59

 

SBA Paycheck Protection Program (PPP)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate - commercial

 

 

1,169

 

 

 

—

 

 

 

1,169

 

 

 

71

 

Other real estate construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate 1 - 4 family construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate - residential

 

 

1,914

 

 

 

601

 

 

 

1,313

 

 

 

112

 

Home equity

 

 

31

 

 

 

1

 

 

 

30

 

 

 

1

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

4,091

 

 

$

602

 

 

$

3,489

 

 

$

243

 

 

December 31, 2021

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Unpaid

Principal

Balance

 

 

Recorded

Investment

With No

Allowance

 

 

Recorded

Investment

With

Allowance

 

 

Related

Allowance

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

960

 

 

$

—

 

 

$

960

 

 

$

31

 

SBA Paycheck Protection Program (PPP)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate - commercial

 

 

1,613

 

 

 

—

 

 

 

1,613

 

 

 

71

 

Other real estate construction

 

 

0

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate 1 - 4 family construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate - residential

 

 

2,103

 

 

 

777

 

 

 

1,326

 

 

 

111

 

Home equity

 

 

32

 

 

 

2

 

 

 

30

 

 

 

1

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

4,708

 

 

$

779

 

 

$

3,929

 

 

$

214

 

The table below shows interest income received on impaired loans by class for the three months ended March 31, 2022 and 2021.

 

 

Three Months Ended March 31, 2022

 

 

Three Months Ended March 31, 2021

 

 

 

Average

Recorded

Investment

 

 

Interest

Income

 

 

Average

Recorded

Investment

 

 

Interest

Income

 

 

 

(dollars in thousands)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Commercial

 

$

969

 

 

$

4

 

 

$

651

 

 

$

5

 

SBA Paycheck Protection Program (PPP)

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate - commercial

 

 

1,391

 

 

 

24

 

 

 

3,584

 

 

 

24

 

Other real estate construction

 

 

—

 

 

 

—

 

 

 

519

 

 

 

—

 

Real estate 1- 4 family construction

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Real estate - residential

 

 

2,008

 

 

 

63

 

 

 

2,792

 

 

 

38

 

Home equity

 

 

32

 

 

 

—

 

 

 

143

 

 

 

1

 

Consumer loans

 

 

—

 

 

 

—

 

 

 

12

 

 

 

—

 

Other loans

 

 

—

 

 

 

—

 

 

 

—

 

 

 

—

 

Total

 

$

4,400

 

 

$

91

 

 

$

7,701

 

 

$

68