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Loans (Tables)
6 Months Ended
Jun. 30, 2023
Loans  
Classification of Loans By Class

The following table sets forth the classification of loans by class, including unearned fees, deferred costs and excluding the allowance for loan losses as of June 30, 2023 and December 31, 2022:

(In thousands)

    

June 30, 2023

    

December 31, 2022

SBA loans held for investment

$

39,878

$

38,468

SBA PPP loans

2,555

5,908

Commercial loans

 

 

  

SBA 504 loans

 

31,657

 

35,077

Commercial other

 

130,737

 

117,566

Commercial real estate

 

931,756

 

903,126

Commercial real estate construction

 

161,882

 

131,774

Residential mortgage loans

 

633,414

 

605,091

Consumer loans

 

 

Home equity

 

68,379

 

68,310

Consumer other

7,611

9,854

Residential construction loans

139,424

163,457

Total loans held for investment

$

2,147,293

$

2,078,631

SBA loans held for sale

 

20,074

 

27,928

Total loans

$

2,167,367

$

2,106,559

Aging Analysis of Past Due And Nonaccrual Loans by Loan Class

The following tables set forth an aging analysis of past due and nonaccrual loans as of June 30, 2023 and December 31, 2022:

June 30, 2023

    

    

    

90+ days

    

    

    

    

3059 days

6089 days

and still

Total past

(In thousands)

past due

past due

accruing

Nonaccrual

due

Current

Total loans

SBA loans held for investment

$

$

192

$

$

3,591

$

3,783

$

36,095

$

39,878

Commercial loans

 

  

 

  

 

  

 

  

 

  

 

 

  

SBA 504 loans

 

 

 

 

 

 

31,657

 

31,657

Commercial other

 

 

 

 

630

 

630

 

130,107

 

130,737

Commercial real estate

 

 

 

 

205

 

205

 

931,551

 

931,756

Commercial real estate construction

 

 

 

 

 

 

161,882

 

161,882

Residential mortgage loans

 

 

5,444

 

 

8,607

 

14,051

 

619,363

 

633,414

Consumer loans

 

 

 

 

 

  

 

 

Home equity

 

 

 

 

 

 

68,379

 

68,379

Consumer other

86

35

121

7,490

7,611

Residential construction loans

3,182

3,182

136,242

139,424

Total loans held for investment, excluding SBA PPP

86

5,671

16,215

21,972

2,122,766

2,144,738

SBA loans held for sale

 

 

 

 

 

 

20,074

 

20,074

Total loans, excluding SBA PPP

$

86

$

5,671

$

$

16,215

$

21,972

$

2,142,840

$

2,164,812

December 31, 2022

    

    

    

90+ days

    

    

    

    

3059 days

6089 days

and still

Total past

(In thousands)

past due

past due

accruing

Nonaccrual

due

Current

Total loans

SBA loans held for investment

$

$

576

$

$

690

$

1,266

$

37,202

$

38,468

Commercial loans

 

  

 

  

 

  

 

  

 

  

 

  

 

  

SBA 504 loans

 

 

 

 

 

 

35,077

 

35,077

Commercial other

 

198

 

300

 

 

777

 

1,275

 

116,291

 

117,566

Commercial real estate

 

22

 

188

 

 

805

 

1,015

 

902,111

 

903,126

Commercial real estate construction

 

 

 

 

 

 

131,774

 

131,774

Residential mortgage loans

 

 

982

 

 

3,361

 

4,343

 

600,748

 

605,091

Consumer loans

 

 

 

 

 

  

 

 

Home equity

 

 

 

 

 

 

68,310

 

68,310

Consumer other

18

 

7

 

 

 

25

 

9,829

 

9,854

Residential construction loans

3,432

3,432

160,025

163,457

Total loans held for investment, excluding SBA PPP

238

2,053

9,065

11,356

2,061,367

2,072,723

SBA loans held for sale

 

2,195

 

 

 

 

2,195

 

25,733

 

27,928

Total loans, excluding SBA PPP

$

2,433

$

2,053

$

$

9,065

$

13,551

$

2,087,100

$

2,100,651

Schedule of Loan Classification Risk by Loan Portfolio Classification by Origination Year

Term Loans

Amortized Cost Basis by Origination Year

(In thousands)

2023

2022

2021

2020

2019

2018 and Earlier

Revolving Loans Amortized Cost Basis

Total

SBA loans held for investment

Risk Rating:

Pass

$

979

$

7,339

$

5,132

$

6,247

$

2,704

$

11,627

$

-

$

34,028

Special Mention

-

-

-

702

-

758

-

1,460

Substandard

-

1,361

2,237

-

-

792

-

4,390

Total SBA loans held for investment

$

979

$

8,700

$

7,369

$

6,949

$

2,704

$

13,177

$

-

$

39,878

SBA loans held for investment

Current-period gross writeoffs

$

-

$

-

$

-

$

-

$

113

$

-

$

-

$

113

SBA PPP loans

Risk Rating:

Pass

$

-

$

-

$

2,555

$

-

$

-

$

-

$

-

$

2,555

Special Mention

-

-

-

-

-

-

-

-

Substandard

-

-

-

-

-

-

-

-

Total SBA PPP loans

$

-

$

-

$

2,555

$

-

$

-

$

-

$

-

$

2,555

Commercial loans

Risk Rating:

Pass

$

84,290

$

345,498

$

185,728

$

138,087

$

103,348

$

286,754

$

93,312

$

1,237,017

Special Mention

-

86

2,100

-

2,251

11,386

395

16,218

Substandard

-

-

-

220

-

2,577

-

2,797

Total commercial loans

$

84,290

$

345,584

$

187,828

$

138,307

$

105,599

$

300,717

$

93,707

$

1,256,032

Residential mortgage loans

Risk Rating:

Performing

$

69,505

$

266,630

$

77,180

$

54,857

$

34,294

$

122,341

$

-

$

624,807

Nonperforming

1,711

2,331

2,413

795

276

1,081

-

8,607

Total residential mortgage loans

$

71,216

$

268,961

$

79,593

$

55,652

$

34,570

$

123,422

$

-

$

633,414

Consumer loans

Risk Rating:

Performing

$

1,562

$

5,438

$

5,650

$

724

$

3,399

$

8,321

$

50,626

$

75,720

Nonperforming

-

-

-

-

-

-

270

270

Total consumer loans

$

1,562

$

5,438

$

5,650

$

724

$

3,399

$

8,321

$

50,896

$

75,990

Consumer loans

Current-period gross writeoffs

$

-

$

-

$

345

$

-

$

-

$

-

$

-

$

345

Residential construction

Risk Rating:

Performing

$

13,093

$

76,151

$

37,515

$

7,751

$

500

$

1,232

$

-

$

136,242

Nonperforming

-

-

352

-

-

1,795

1,035

3,182

Total residential construction loans

$

13,093

$

76,151

$

37,867

$

7,751

$

500

$

3,027

$

1,035

$

139,424

Residential construction

Current-period gross writeoffs

$

-

$

-

$

-

$

-

$

-

$

500

$

400

$

900

Total loans held for investment

$

171,140

$

704,834

$

320,862

$

209,383

$

146,772

$

448,664

$

145,638

$

2,147,293

Loan Portfolio by Class According to Their Credit Quality Indicators

    

December 31, 2022

SBA & Commercial loans - Internal risk ratings

(In thousands)

    

Pass

    

Special mention

    

Substandard

    

Total

SBA loans held for investment

$

37,163

$

558

$

747

$

38,468

SBA PPP loans

5,908

5,908

Commercial loans

 

  

 

  

 

  

 

  

SBA 504 loans

 

35,077

 

 

 

35,077

Commercial other

 

110,107

 

6,220

 

1,239

 

117,566

Commercial real estate

 

894,110

 

6,228

 

2,788

 

903,126

Commercial real estate construction

 

131,774

 

 

 

131,774

Total commercial loans

 

1,171,068

 

12,448

 

4,027

 

1,187,543

Total SBA and commercial loans

$

1,214,139

$

13,006

$

4,774

$

1,231,919

Residential mortgage, Consumer & Residential construction loans - Performing/Nonperforming

(In thousands)

 

  

Performing

Nonperforming

Total

Residential mortgage loans

 

  

$

601,730

$

3,361

$

605,091

Consumer loans

 

  

 

  

 

 

  

Home equity

 

  

 

68,310

 

 

68,310

Consumer other

9,854

 

 

9,854

Total consumer loans

78,164

 

 

78,164

Residential construction loans

160,025

3,432

163,457

Total residential mortgage, consumer and residential construction loans

 

  

$

839,919

$

6,793

$

846,712

Schedule of Amortized Cost Basis of Loans Modified, Disaggregated by Class of Gross Loans and Type of Concession Granted

The following table shows the amortized cost basis at the end of the reporting period of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of gross loans and type of concession granted (numbers in thousands) during the six months ended June 30, 2023:

Term Extension

Amortized Cost Basis

% of Total Class of

June 30, 2023

Gross Loans

Commercial

$

954

0.08

%