Allowance for Credit Losses and Reserve for Unfunded Loan Commitments (Tables)

12 Months Ended

Dec. 31, 2024

Allowance for Credit Losses and Reserve for Unfunded Loan Commitments

Activity in the Allowance for Loan Losses by Portfolio Segment

The following tables detail the activity in the allowance for credit losses by portfolio segment for the past two years:

	For the year ended December 31, 2024
										Residential
(In thousands)	SBA		Commercial		Residential		Consumer		Construction		Total
Balance, beginning of period	$	1,221	$	15,876	$	6,529	$	1,022	$	1,206	$	25,854
Charge-offs		(370)		(633)		(150)		(361)		(277)		(1,791)
Recoveries		47		204		—		67		—		318
Net charge-offs		(323)		(429)		(150)		(294)		(277)		(1,473)
Provision for (credit to) credit losses charged to expense		637		1,914		(125)		47		(66)		2,407
Balance, end of period	$	1,535	$	17,361	$	6,254	$	775	$	863	$	26,788

	For the year ended December 31, 2023
										Residential
(In thousands)	SBA		Commercial		Residential		Consumer		Construction		Total
Balance, beginning of period	$	875	$	15,254	$	5,450	$	990	$	2,627	$	25,196
Impact of adoption of ASU 2016-13 ("CECL")		163		171		376		101		36		847
Charge-offs		(213)		(752)		(93)		(578)		(1,000)		(2,636)
Recoveries		20		400		—		84		111		615
Net charge-offs		(193)		(352)		(93)		(494)		(889)		(2,021)
Provision for (credit to) credit losses charged to expense		376		803		796		425		(568)		1,832
Balance, end of period	$	1,221	$	15,876	$	6,529	$	1,022	$	1,206	$	25,854

Allowance for Credit Losses on Financing Receivables

The following tables present loans and related allowance for credit losses, by portfolio segment, as of December 31^st for the past two years:

	December 31, 2024
	SBA, Held									Residential
(In thousands)	for Investment		Commercial		Residential		Consumer			Construction	Total
Allowance for credit losses ending balance:
Individually evaluated for impairment	$	755	$	62	$	52	$	—	$	102	$	971
Collectively evaluated for impairment		780		17,299		6,202		775		761		25,817
Total	$	1,535	$	17,361	$	6,254	$	775	$	863	$	26,788
Loan ending balances:
Individually evaluated for impairment	$	3,850	$	2,974	$	6,471	$	—	$	547	$	13,842
Collectively evaluated for impairment		34,459		1,408,655		624,456		76,711		90,371		2,234,652
Total loans held for investment	$	38,309	$	1,411,629	$	630,927	$	76,711	$	90,918	$	2,248,494

	December 31, 2023
	SBA, Held									Residential
(In thousands)	for Investment		Commercial		Residential		Consumer			Construction	Total
Allowance for credit losses ending balance:
Individually evaluated for impairment	$	348	$	341	$	306	$	—	$	—	$	995
Collectively evaluated for impairment		873		15,535		6,223		1,022		1,206		24,859
Total	$	1,221	$	15,876	$	6,529	$	1,022	$	1,206	$	25,854
Loan ending balances:
Individually evaluated for impairment	$	3,444	$	1,948	$	11,272	$	381	$	2,141	$	19,186
Collectively evaluated for impairment		37,458		1,275,512		620,234		72,295		129,136		2,134,635
Total loans held for investment	$	40,902	$	1,277,460	$	631,506	$	72,676	$	131,277	$	2,153,821