Loans (Tables)

12 Months Ended

Dec. 31, 2024

Loans

Classification of Loans By Class

(In thousands)	December 31, 2024		December 31, 2023
SBA loans held for investment	$	36,859	$	38,584
SBA PPP loans		1,450		2,318
Commercial loans
SBA 504 loans		48,479		33,669
Commercial & industrial		147,186		128,402
Commercial real estate (1)		1,085,771		986,230
Commercial real estate construction		130,193		129,159
Residential mortgage loans		630,927		631,506
Consumer loans
Home equity		73,223		67,037
Consumer other		3,488		5,639
Residential construction loans		90,918		131,277
Total loans held for investment	$	2,248,494	$	2,153,821
SBA loans held for sale		12,163		18,242
Total loans	$	2,260,657	$	2,172,063

(1) Commercial real estate includes Commercial Mortgage – Owner Occupied, Commercial Mortgage – Nonowner Occupied and Commercial Mortgage – Other. Commercial Mortgage – Other primarily includes multifamily and land loans.

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

The following table shows the internal loan classification risk by loan portfolio classification by origination year as of December 31, 2024:

	Term Loans
	Amortized Cost Basis by Origination Year
(In thousands)		2024		2023		2022		2021		2020		2019 and Earlier		Revolving Loans Amortized Cost Basis		Total
SBA loans held for investment
Risk Rating:
Pass	$	2,167	$	1,580	$	5,205	$	4,961	$	5,570	$	10,085	$	-	$	29,568
Special Mention		-		769		1,740		356		508		729		-		4,102
Substandard		-		-		956		2,116		116		1		-		3,189
Total SBA loans held for investment	$	2,167	$	2,349	$	7,901	$	7,433	$	6,194	$	10,815	$	-	$	36,859
SBA loans held for investment
Current-period gross writeoffs	$	-	$	-	$	300	$	70	$	-	$	-	$	-	$	370
SBA PPP loans
Risk Rating:
Pass	$	-	$	-	$	-	$	1,450	$	-	$	-	$	-	$	1,450
Total SBA PPP loans	$	-	$	-	$	-	$	1,450	$	-	$	-	$	-	$	1,450
Commercial loans
Risk Rating:
Pass	$	189,371	$	167,190	$	331,349	$	161,508	$	123,225	$	330,131	$	94,369	$	1,397,143
Special Mention		-		-		6,269		1,737		-		3,108		17		11,131
Substandard		-		-		-		2		1,187		2,157		9		3,355
Total commercial loans	$	189,371	$	167,190	$	337,618	$	163,247	$	124,412	$	335,396	$	94,395	$	1,411,629
Commercial loans
Current-period gross writeoffs	$	-	$	-	$	38	$	138	$	200	$	107	$	150	$	633
Residential mortgage loans
Risk Rating:
Performing	$	93,825	$	73,862	$	224,295	$	65,192	$	44,366	$	122,916	$	-	$	624,456
Nonperforming		-		227		1,488		2,238		-		2,518		-		6,471
Total residential mortgage loans	$	93,825	$	74,089	$	225,783	$	67,430	$	44,366	$	125,434	$	-	$	630,927
Residential mortgage loans
Current-period gross writeoffs	$	-	$	-	$	-	$	150	$	-	$	-	$	-	$	150
Consumer loans
Risk Rating:
Performing	$	5,898	$	2,602	$	3,275	$	1,515	$	667	$	10,409	$	52,345	$	76,711
Total consumer loans	$	5,898	$	2,602	$	3,275	$	1,515	$	667	$	10,409	$	52,345	$	76,711
Consumer loans
Current-period gross writeoffs	$	-	$	-	$	63	$	100	$	-	$	198	$	-	$	361
Residential construction
Risk Rating:
Pass	$	36,522	$	16,889	$	26,683	$	7,766	$	1,154	$	1,357	$	-	$	90,371
Substandard		-		-		-		-		547		-		-		547
Total residential construction loans	$	36,522	$	16,889	$	26,683	$	7,766	$	1,701	$	1,357	$	-	$	90,918
Residential construction
Current-period gross writeoffs	$	-	$	-	$	-	$	-	$	-	$	277	$	-	$	277
Total loans held for investment	$	327,783	$	263,119	$	601,260	$	248,841	$	177,340	$	483,411	$	146,740	$	2,248,494

The following table shows the internal loan classification risk by loan portfolio classification by origination year as of December 31, 2023:

	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		$	1,938	$	5,339	$	4,723	$	6,083	$	2,634	$	10,996	$	-	$	31,713
Special Mention			-		1,765		356		510		-		31		-		2,662
Substandard			-		1,256		2,186		190		-		577		-		4,209
Total SBA loans held for investment		$	1,938	$	8,360	$	7,265	$	6,783	$	2,634	$	11,604	$	-	$	38,584
SBA loans held for investment
Current-period gross writeoffs		$	-	$	100	$	-	$	-	$	113	$	-	$	-	$	213
SBA PPP loans
Risk Rating:
Pass		$	-	$	-	$	2,318	$	-	$	-	$	-	$	-	$	2,318
Total SBA PPP loans		$	-	$	-	$	2,318	$	-	$	-	$	-	$	-	$	2,318
Commercial loans
Risk Rating:
Pass		$	139,622	$	343,755	$	181,419	$	128,165	$	101,274	$	271,469	$	96,988	$	1,262,692
Special Mention			-		-		1,815		-		1,570		7,423		395		11,203
Substandard			-		-		59		14		288		3,204		-		3,565
Total commercial loans		$	139,622	$	343,755	$	183,293	$	128,179	$	103,132	$	282,096	$	97,383	$	1,277,460
Commercial loans
Current-period gross writeoffs		$	-	$	-	$	150	$	-	$	350	$	252	$	-	$	752
Residential mortgage loans
Risk Rating:
Performing		$	102,892	$	253,919	$	72,586	$	51,999	$	30,482	$	109,302	$	-	$	621,180
Nonperforming			-		2,964		2,714		1,054		945		2,649		-		10,326
Total residential mortgage loans		$	102,892	$	256,883	$	75,300	$	53,053	$	31,427	$	111,951	$	-	$	631,506
Residential mortgage loans
Current-period gross writeoffs		$	-	$	-	$	25	$	-	$	-	$	68	$	-	$	93
Consumer loans
Risk Rating:
Performing		$	3,428	$	4,777	$	3,681	$	670	$	2,481	$	7,507	$	49,751	$	72,295
Nonperforming			-		-		-		125		-		256		-		381
Total consumer loans		$	3,428	$	4,777	$	3,681	$	795	$	2,481	$	7,763	$	49,751	$	72,676
Consumer loans
Current-period gross writeoffs		$	-	$	26	$	552	$	-	$	-	$	-	$	-	$	578
Residential construction loans
Risk Rating:
Performing		$	28,827	$	72,257	$	25,395	$	1,418	$	491	$	748	$	-	$	129,136
Nonperforming			-		-		-		547		-		1,594		-		2,141
Total residential construction loans		$	28,827	$	72,257	$	25,395	$	1,965	$	491	$	2,342	$	-	$	131,277
Residential construction
Current-period gross writeoffs		$	-	$	-	$	-	$	-	$	-	$	600	$	400	$	1,000
Total loans held for investment		$	276,707	$	686,031	$	297,252	$	190,775	$	140,165	$	415,756	$	147,134	$	2,153,821

Aging Analysis of Past Due And Nonaccrual Loans by Loan Class

	December 31, 2024
					90+ days
	30‑59 days		60‑89 days		and still				Total past
(In thousands)	past due		past due		accruing		Nonaccrual		due (1)		Current		Total loans
SBA loans held for investment	$	1,006	$	451	$	—	$	3,850	$	5,307	$	31,552	$	36,859
Commercial loans
SBA 504 loans		—		—		—		—		—		48,479		48,479
Commercial & industrial		941		—		—		1,228		2,169		145,017		147,186
Commercial real estate		22,378		2,339		—		1,746		26,463		1,059,308		1,085,771
Commercial real estate construction		—		—		—		—		—		130,193		130,193
Residential mortgage loans		15,654		4,094		760		5,711		26,219		604,708		630,927
Consumer loans
Home equity		479		2,162		—		—		2,641		70,582		73,223
Consumer other		36		5		—		—		41		3,447		3,488
Residential construction loans		—		—		—		547		547		90,371		90,918
Total loans held for investment		40,494		9,051		760		13,082		63,387		2,183,657		2,247,044
SBA loans held for sale		—		—		—		—		—		12,163		12,163
Total loans, excluding SBA PPP	$	40,494	$	9,051	$	760	$	13,082	$	63,387	$	2,195,820	$	2,259,207

	December 31, 2023
					90+ days
	30‑59 days		60‑89 days		and still				Total past
(In thousands)	past due		past due		accruing		Nonaccrual		due (1)		Current		Total loans
SBA loans held for investment	$	551	$	185	$	—	$	3,444	$	4,180	$	34,404	$	38,584
Commercial loans
SBA 504 loans		—		—		—		—		—		33,669		33,669
Commercial & industrial		288		78		—		283		649		127,753		128,402
Commercial real estate		1,732		—		—		1,665		3,397		982,833		986,230
Commercial real estate construction		—		—		—		—		—		129,159		129,159
Residential mortgage loans		8,719		1,378		946		10,326		21,369		610,137		631,506
Consumer loans
Home equity		14		—		—		381		395		66,642		67,037
Consumer other		28		55		—		—		83		5,556		5,639
Residential construction loans		2,580		—		—		2,141		4,721		126,556		131,277
Total loans held for investment		13,912		1,696		946		18,240		34,794		2,116,709		2,151,503
SBA loans held for sale		—		—		—		—		—		18,242		18,242
Total loans, excluding SBA PPP	$	13,912	$	1,696	$	946	$	18,240	$	34,794	$	2,134,951	$	2,169,745

(1) At December 31, 2024 and 2023, the Company had no SBA PPP loans past due.

Individually Evaluated Loans with Associated Allowance Amount

	December 31, 2024
	Unpaid				Allowance for
	principal		Recorded		Credit Losses
(In thousands)	balance		investment		Allocated
With no related allowance:
SBA loans held for investment	$	432	$	334	$	—
Commercial loans
Commercial & industrial		638		33		—
Commercial real estate		2,055		1,746		—
Total commercial loans		2,693		1,779		—
Residential mortgage loans		4,238		4,238		—
Total individually evaluated loans with no related allowance		7,363		6,351		—
With an allowance:
SBA loans held for investment		4,011		3,516		755
Commercial loans
Commercial & industrial		1,672		1,195		62
Total commercial loans		1,672		1,195		62
Residential mortgage loans		2,413		2,233		52
Residential construction loans		547		547		102
Total individually evaluated loans with a related allowance		8,643		7,491		971
Total individually evaluated loans:
SBA loans held for investment		4,443		3,850		755
Commercial loans
Commercial & industrial		2,310		1,228		62
Commercial real estate		2,055		1,746		—
Total commercial loans		4,365		2,974		62
Residential mortgage loans		6,651		6,471		52
Residential construction loans		547		547		102
Total individually evaluated loans	$	16,006	$	13,842	$	971

	December 31, 2023
	Unpaid				Allowance for
	principal		Recorded		Credit Losses
(In thousands)	balance		investment		Allocated
With no related allowance:
SBA loans held for investment	$	2,264	$	2,186	$	—
Commercial loans
Commercial real estate		2,734		1,607		—
Total commercial loans		2,734		1,607		—
Residential mortgage loans		7,146		7,121		—
Consumer loans
Home equity		390		388		—
Total consumer loans		390		388		—
Residential construction loans		2,757		2,141		—
Total individually evaluated loans with no related allowance		15,291		13,443		—
With an allowance:
SBA loans held for investment		1,383		1,258		348
Commercial loans
Commercial & industrial		638		283		283
Commercial real estate		209		58		58
Total commercial loans		847		341		341
Residential mortgage loans		4,182		4,151		306
Total individually evaluated loans with a related allowance		6,412		5,750		995
Total individually evaluated loans:
SBA loans held for investment		3,647		3,444		348
Commercial loans
Commercial & industrial		638		283		283
Commercial real estate		2,943		1,665		58
Total commercial loans		3,581		1,948		341
Residential mortgage loans		11,328		11,272		306
Consumer loans:
Home equity		390		381		—
Total consumer loans		390		381		—
Residential construction loans		2,757		2,141		—
Total individually evaluated loans	$	21,703	$	19,186	$	995

Schedule of Servicing Assets

	For the years ended December 31,
(In thousands)	2024		2023
Balance, beginning of year	$	881	$	691
Servicing assets capitalized		186		576
Amortization of expense, net		(404)		(386)
Balance, end of year	$	663	$	881

Schedule of Related Party Transactions

(In thousands)	December 31, 2024		December 31, 2023
Balance, beginning of year	$	7,894	$	8,124
New loans and advances		1,500		788
Loan repayments		(1,078)		(953)
Loans removed		—		(65)
Balance, end of year	$	8,316	$	7,894

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

	Payment Delay					Term Extension
		Principal	Percentage			Principal	Percentage
(In thousands)		Balance	of Loan Class			Balance	of Loan Class
SBA loans held for investment	$	93	0.3	%	$	—	—	%
Commercial loans
Commercial real estate		632	0.1			—	—
Commercial & industrial		—	—			1,882	2.4
Residential mortgage loans		—	—			1,033	0.2
Consumer loans
Home equity		—	—			2,162	3.0
Balance, December 31, 2024	$	725	0.1	%	$	5,077	0.2	%

	Principal Forgiveness					Payment Delay				Term Extension
		Principal	Percentage			Principal	Percentage			Principal	Percentage
(In thousands)		Balance	of Loan Class			Balance	of Loan Class			Balance	of Loan Class
SBA loans held for investment	$	9	0.1	%	$	—	—	%	$	—	—	%
Commercial loans
Commercial & industrial		—	—			—	—			835	0.1
Commercial real estate		—	—			1,290	0.1			732	0.1
Consumer loans
Home equity		—	—			—	—			103	0.1
Balance, December 31, 2023	$	9	0.1	%	$	1,290	0.1	%	$	1,670	0.1	%