Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 13, 2023 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Amendment Flag | false | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | BANK OF THE JAMES FINANCIAL GROUP, INC. | |
Entity Incorporation, State or Country Code | VA | |
Entity File Number | 001-35402 | |
Entity Tax Identification Number | 20-0500300 | |
Entity Address, Address Line One | 828 Main Street, | |
Entity Address, City or Town | Lynchburg | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 24504 | |
City Area Code | 434 | |
Local Phone Number | 846-2000 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Document Fiscal Year Focus | 2023 | |
Entity Central Index Key | 0001275101 | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Title of 12(b) Security | Common Stock, 2.14 per share par value | |
Trading Symbol | BOTJ | |
Security Exchange Name | NASDAQ | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,543,338 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 20,105,000 | $ 30,025,000 |
Federal funds sold | 79,424,000 | 31,737,000 |
Total cash and cash equivalents | 99,529,000 | 61,762,000 |
Securities held-to-maturity, at amortized cost (fair value of $3,028 in 2023 and $3,135 in 2022) net of allowance for credit loss of $0 in 2023 | 3,626,000 | 3,639,000 |
Securities available-for-sale, at fair value | 181,977,000 | 185,787,000 |
Restricted stock, at cost | 1,541,000 | 1,387,000 |
Loans, net of allowance for credit losses of $7,320 in 2023 and $6,259 in 2022 | 599,585,000 | 605,366,000 |
Loans held for sale | 3,325,000 | 2,423,000 |
Premises and equipment, net | 18,371,000 | 17,974,000 |
Interest receivable | 2,707,000 | 2,736,000 |
Cash value - bank owned life insurance | 21,443,000 | 19,237,000 |
Other real estate owned | 0 | 566,000 |
Customer relationship intangibles | 7,425,000 | 7,845,000 |
Goodwill | 2,054,000 | 2,054,000 |
Other assets | 19,304,000 | 17,795,000 |
Total assets | 960,887,000 | 928,571,000 |
Deposits | ||
Noninterest bearing demand | 154,628,000 | 154,884,000 |
NOW, money market and savings | 524,721,000 | 560,479,000 |
Time deposits | 200,854,000 | 132,775,000 |
Total deposits | 880,203,000 | 848,138,000 |
Capital notes, net | 10,041,000 | 10,037,000 |
Other borrowings | 10,030,000 | 10,457,000 |
Interest payable | 381,000 | 89,000 |
Other liabilities | 10,103,000 | 9,624,000 |
Total liabilities | 910,758,000 | 878,345,000 |
Commitments and Contingencies | ||
Stockholders’ equity | ||
Preferred stock; authorized 1,000,000 shares; none issued and outstanding | ||
Common stock $2.14 par value; authorized 10,000,000 shares; issued and outstanding 4,543,338 as of September 30, 2023 and 4,628,657 as of December 31, 2022 | 9,723,000 | 9,905,000 |
Additional paid-in-capital | 35,253,000 | 36,068,000 |
Retained earnings | 34,931,000 | 31,034,000 |
Accumulated other comprehensive (loss) | (29,778,000) | (26,781,000) |
Total stockholders’ equity | 50,129,000 | 50,226,000 |
Total liabilities and stockholders’ equity | $ 960,887,000 | $ 928,571,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Consolidated Balance Sheets [Abstract] | ||
Securities held-to-maturity, fair value | $ 3,028,000 | $ 3,135,000 |
Debt Securities, Held-to-Maturity, Allowance for Credit Loss | 0 | 0 |
Allowance for Credit Losses | $ 7,320,000 | $ 6,259,000 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value | $ 2.14 | $ 2.14 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 4,543,338 | 4,628,657 |
Common stock, shares outstanding | 4,543,338 | 4,628,657 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest Income | ||||
Loans | $ 7,990,000 | $ 6,830,000 | $ 23,251,000 | $ 18,909,000 |
Securities | ||||
U.S. Government and agency obligations | 321,000 | 331,000 | 962,000 | 911,000 |
Mortgage backed securities | 435,000 | 437,000 | 1,255,000 | 1,196,000 |
Municipals - taxable | 286,000 | 257,000 | 853,000 | 812,000 |
Municipals - tax exempt | 18,000 | 32,000 | 55,000 | 55,000 |
Dividends | 8,000 | 5,000 | 49,000 | 36,000 |
Corporates | 139,000 | 144,000 | 423,000 | 395,000 |
Interest bearing deposits | 134,000 | 101,000 | 375,000 | 135,000 |
Federal Funds sold | 812,000 | 262,000 | 1,601,000 | 463,000 |
Total interest income | 10,143,000 | 8,399,000 | 28,824,000 | 22,912,000 |
Deposits | ||||
NOW, money market savings | 894,000 | 133,000 | 1,916,000 | 374,000 |
Time deposits | 1,683,000 | 143,000 | 3,918,000 | 467,000 |
FHLB borrowings | 31,000 | |||
Finance leases | 22,000 | 24,000 | 66,000 | 73,000 |
Other borrowings | 98,000 | 117,000 | 297,000 | 339,000 |
Capital notes | 82,000 | 82,000 | 245,000 | 245,000 |
Total interest expense | 2,779,000 | 499,000 | 6,473,000 | 1,498,000 |
Net interest income | 7,364,000 | 7,900,000 | 22,351,000 | 21,414,000 |
Recovery of credit losses | (164,000) | (300,000) | (278,000) | (900,000) |
Net interest income after recovery of credit losses | 7,528,000 | 8,200,000 | 22,629,000 | 22,314,000 |
Noninterest income | ||||
Gain on sales of loans held for sale | 989,000 | 1,472,000 | 3,065,000 | 4,675,000 |
Service charges, fees and commissions | 1,004,000 | 1,313,000 | 2,942,000 | 2,563,000 |
Wealth management fees | 1,050,000 | 959,000 | 3,098,000 | 2,935,000 |
Life insurance income | 139,000 | 113,000 | 405,000 | 338,000 |
Other | 19,000 | (3,000) | 179,000 | 8,000 |
Total noninterest income | 3,201,000 | 3,854,000 | 9,689,000 | 10,519,000 |
Noninterest expenses | ||||
Salaries and employee benefits | 4,683,000 | 4,529,000 | 13,296,000 | 13,051,000 |
Occupancy | 458,000 | 445,000 | 1,389,000 | 1,348,000 |
Equipment | 501,000 | 647,000 | 1,813,000 | 1,870,000 |
Supplies | 118,000 | 116,000 | 399,000 | 380,000 |
Professional, data processing, and other outside expense | 1,371,000 | 1,619,000 | 4,154,000 | 3,544,000 |
Marketing | 204,000 | 222,000 | 683,000 | 661,000 |
Credit expense | 218,000 | 244,000 | 623,000 | 765,000 |
Other real estate expenses, net | 3,000 | 195,000 | 36,000 | 207,000 |
FDIC insurance expense | 126,000 | 121,000 | 321,000 | 382,000 |
Amortization of intangibles | 46,000 | 140,000 | 420,000 | 420,000 |
Other | 412,000 | 601,000 | 957,000 | 1,491,000 |
Total noninterest expenses | 8,140,000 | 8,879,000 | 24,091,000 | 24,119,000 |
Income before income taxes | 2,589,000 | 3,175,000 | 8,227,000 | 8,714,000 |
Income tax expense | 511,000 | 601,000 | 1,631,000 | 1,709,000 |
Net Income | $ 2,078,000 | $ 2,574,000 | $ 6,596,000 | $ 7,005,000 |
Weighted average shares outstanding - basic | 4,543,338 | 4,683,581 | 4,568,789 | 4,721,423 |
Weighted average shares outstanding - diluted | 4,543,338 | 4,683,581 | 4,568,789 | 4,721,423 |
Earnings per common share – basic | $ 0.46 | $ 0.55 | $ 1.44 | $ 1.48 |
Earnings per common share – diluted | $ 0.46 | $ 0.55 | $ 1.44 | $ 1.48 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive Income (Loss) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Consolidated Statements Of Comprehensive Income (Loss) | ||||
Net Income | $ 2,078,000 | $ 2,574,000 | $ 6,596,000 | $ 7,005,000 |
Other comprehensive loss: | ||||
Unrealized (loss) on securities available-for-sale | (5,462,000) | (7,368,000) | (3,794,000) | (32,530,000) |
Tax effect | 1,147,000 | 1,548,000 | 797,000 | 6,832,000 |
Other comprehensive loss, net of tax | (4,315,000) | (5,820,000) | (2,997,000) | (25,698,000) |
Comprehensive (loss) income | $ (2,237,000) | $ (3,246,000) | $ 3,599,000 | $ (18,693,000) |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Cash flows from operating activities | |||||||
Net Income | $ 2,078,000 | $ 1,984,000 | $ 2,574,000 | $ 2,139,000 | $ 6,596,000 | $ 7,005,000 | |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||||
Depreciation and amortization | 1,079,000 | 1,022,000 | |||||
Net amortization (accretion) of premiums and discounts on securities | (579,000) | 338,000 | |||||
Amortization of debt issuance costs | 10,000 | 10,000 | |||||
(Gain) on sales of loans held for sale | (989,000) | (1,472,000) | (3,065,000) | (4,675,000) | |||
Proceeds from sales of loans held for sale | 126,245,000 | 176,736,000 | |||||
Origination of loans held for sale | (124,082,000) | (173,732,000) | |||||
Recovery of credit losses | (164,000) | (300,000) | (278,000) | (900,000) | |||
Loss on sale of other real estate owned | 3,000 | ||||||
Impairment of other real estate owned | 23,000 | 195,000 | |||||
Gain on sales of equipment | 2,000 | ||||||
Amortization of intangibles | 46,000 | 140,000 | 420,000 | 420,000 | |||
Bank owned life insurance income | (139,000) | (113,000) | (405,000) | (338,000) | |||
Loss on disposition of equipment | 2,000 | ||||||
Decrease (increase) in interest receivable | 29,000 | (318,000) | |||||
(Increase) in other assets | (154,000) | (838,000) | |||||
Increase (decrease) in interest payable | 292,000 | (9,000) | |||||
(Decrease) increase in other liabilities | (167,000) | 447,000 | |||||
Net cash provided by operating activities | 5,969,000 | 5,363,000 | |||||
Cash flows from investing activities | |||||||
Purchases of securities available-for-sale | (8,166,000) | (71,581,000) | |||||
Proceeds from maturities, calls and paydowns of securities available-for-sale | 8,775,000 | 8,861,000 | |||||
Purchases of bank owned life insurance | (1,800,000) | ||||||
Purchase of Federal Home Loan Bank stock | (154,000) | (63,000) | |||||
Proceeds from sale of other real estate owned | 540,000 | ||||||
Origination of loans, net of principal collected | 4,814,000 | (36,748,000) | |||||
Purchases of premises and equipment | (1,478,000) | (921,000) | |||||
Net cash provided by (used in) investing activities | 2,531,000 | (100,452,000) | |||||
Cash flows from financing activities | |||||||
Net increase (decrease) in deposits | 32,065,000 | (3,987,000) | |||||
Principal payments on finance lease obligations | (274,000) | (267,000) | |||||
Principal payments on other borrowings | (427,000) | (393,000) | |||||
Repurchase of common stock | (997,000) | (1,402,000) | |||||
Dividends paid to common stockholders | (1,100,000) | (995,000) | |||||
Net cash provided by (used in) financing activities | 29,267,000 | (7,044,000) | |||||
Increase (decrease) in cash and cash equivalents | 37,767,000 | (102,133,000) | |||||
Cash and cash equivalents at beginning of period | $ 61,762,000 | $ 183,153,000 | 61,762,000 | 183,153,000 | 183,153,000 | ||
Cash and cash equivalents at end of period | $ 99,529,000 | $ 81,020,000 | 99,529,000 | 81,020,000 | $ 61,762,000 | ||
Noncash transactions | |||||||
Fair value adjustment for securities available-for-sale | (3,793,000) | (32,530,000) | |||||
Cash transactions | |||||||
Cash paid for interest | 6,181,000 | 1,507,000 | |||||
Cash paid for income taxes | $ 1,465,000 | $ 1,430,000 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders’ Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive (Loss) [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Total |
Balance at Dec. 31, 2021 | $ 10,145,000 | $ 37,230,000 | $ 23,440,000 | $ (1,386,000) | $ 69,429,000 | ||
Balance, shares at Dec. 31, 2021 | 4,740,657 | ||||||
Net Income | 2,139,000 | 2,139,000 | |||||
Dividends paid on common stock | (332,000) | (332,000) | |||||
Other comprehensive income (loss) | (10,657,000) | (10,657,000) | |||||
Balance at Mar. 31, 2022 | $ 10,145,000 | 37,230,000 | 25,247,000 | (12,043,000) | 60,579,000 | ||
Balance, shares at Mar. 31, 2022 | 4,740,657 | ||||||
Balance at Dec. 31, 2021 | $ 10,145,000 | 37,230,000 | 23,440,000 | (1,386,000) | 69,429,000 | ||
Balance, shares at Dec. 31, 2021 | 4,740,657 | ||||||
Net Income | 7,005,000 | ||||||
Other comprehensive income (loss) | (25,698,000) | ||||||
Balance at Sep. 30, 2022 | $ 9,905,000 | 36,068,000 | 29,450,000 | (27,084,000) | 48,339,000 | ||
Balance, shares at Sep. 30, 2022 | 4,628,657 | ||||||
Balance at Mar. 31, 2022 | $ 10,145,000 | 37,230,000 | 25,247,000 | (12,043,000) | 60,579,000 | ||
Balance, shares at Mar. 31, 2022 | 4,740,657 | ||||||
Net Income | 2,292,000 | 2,292,000 | |||||
Dividends paid on common stock | (332,000) | (332,000) | |||||
Other comprehensive income (loss) | (9,221,000) | (9,221,000) | |||||
Balance at Jun. 30, 2022 | $ 10,145,000 | 37,230,000 | 27,207,000 | (21,264,000) | 53,318,000 | ||
Balance, shares at Jun. 30, 2022 | 4,740,657 | ||||||
Net Income | 2,574,000 | 2,574,000 | |||||
Dividends paid on common stock | (331,000) | (331,000) | |||||
Repurchase of common stock | $ (240,000) | (1,162,000) | (1,402,000) | ||||
Repurchase of common stock, shares | (112,000) | ||||||
Other comprehensive income (loss) | (5,820,000) | (5,820,000) | |||||
Balance at Sep. 30, 2022 | $ 9,905,000 | 36,068,000 | 29,450,000 | (27,084,000) | 48,339,000 | ||
Balance, shares at Sep. 30, 2022 | 4,628,657 | ||||||
Balance at Dec. 31, 2022 | $ 9,905,000 | 36,068,000 | $ (1,599,000) | 31,034,000 | (26,781,000) | $ (1,599,000) | 50,226,000 |
Balance, shares at Dec. 31, 2022 | 4,628,657 | ||||||
Net Income | 1,984,000 | 1,984,000 | |||||
Dividends paid on common stock | (370,000) | (370,000) | |||||
Repurchase of common stock | $ (147,000) | (666,000) | (813,000) | ||||
Repurchase of common stock, shares | (68,619) | ||||||
Other comprehensive income (loss) | 2,583,000 | 2,583,000 | |||||
Balance at Mar. 31, 2023 | $ 9,758,000 | 35,402,000 | 31,049,000 | (24,198,000) | 52,011,000 | ||
Balance, shares at Mar. 31, 2023 | 4,560,038 | ||||||
Balance at Dec. 31, 2022 | $ 9,905,000 | 36,068,000 | $ (1,599,000) | 31,034,000 | (26,781,000) | $ (1,599,000) | 50,226,000 |
Balance, shares at Dec. 31, 2022 | 4,628,657 | ||||||
Net Income | 6,596,000 | ||||||
Other comprehensive income (loss) | (2,997,000) | ||||||
Balance at Sep. 30, 2023 | $ 9,723,000 | 35,253,000 | 34,931,000 | (29,778,000) | $ 50,129,000 | ||
Balance, shares at Sep. 30, 2023 | 4,543,338 | ||||||
Accounting Standards Update [Extensible Enumeration] | us-gaap:AccountingStandardsUpdate201613Member | ||||||
Balance at Mar. 31, 2023 | $ 9,758,000 | 35,402,000 | 31,049,000 | (24,198,000) | $ 52,011,000 | ||
Balance, shares at Mar. 31, 2023 | 4,560,038 | ||||||
Net Income | 2,534,000 | 2,534,000 | |||||
Dividends paid on common stock | (364,000) | (364,000) | |||||
Repurchase of common stock | $ (35,000) | (149,000) | (184,000) | ||||
Repurchase of common stock, shares | (16,700) | ||||||
Other comprehensive income (loss) | (1,265,000) | (1,265,000) | |||||
Balance at Jun. 30, 2023 | $ 9,723,000 | 35,253,000 | 33,219,000 | (25,463,000) | 52,732,000 | ||
Balance, shares at Jun. 30, 2023 | 4,543,338 | ||||||
Net Income | 2,078,000 | 2,078,000 | |||||
Dividends paid on common stock | (366,000) | (366,000) | |||||
Other comprehensive income (loss) | (4,315,000) | (4,315,000) | |||||
Balance at Sep. 30, 2023 | $ 9,723,000 | $ 35,253,000 | $ 34,931,000 | $ (29,778,000) | $ 50,129,000 | ||
Balance, shares at Sep. 30, 2023 | 4,543,338 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | ||||||
Dividend on common stock, per share | $ 0.08 | $ 0.08 | $ 0.08 | $ 0.07 | $ 0.07 | $ 0.07 |
Basis Of Presentation
Basis Of Presentation | 9 Months Ended |
Sep. 30, 2023 | |
Basis of Presentation [Abstract] | |
Basis Of Presentation | Note 1 – Basis of Presentation Bank of the James Financial Group, Inc.’s (“Financial” or the “Company”) primary market area consists of the area commonly referred to as Region 2000 which encompasses the seven jurisdictions of the Town of Altavista, Amherst County, Appomattox County, the Town of Bedford, Bedford County, Campbell County, and the City of Lynchburg. Within the last several years, the Company expanded into Charlottesville, Roanoke, Blacksburg, Harrisonburg, Lexington, Rustburg, and Wytheville. The unaudited consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In management’s opinion the accompanying financial statements, which unless otherwise noted are unaudited, reflect all adjustments, consisting solely of normal recurring accruals, necessary for a fair presentation of the financial information as of September 30, 2023 and for the three and nine months ended September 30, 2023 and 2022 in conformity with accounting principles generally accepted in the United States of America. Additional information concerning the organization and business of Financial, accounting policies followed, and other related information is contained in Financial’s Annual Report on Form 10-K for the year ended December 31, 2022. These financial statements should be read in conjunction with the audited consolidated financial statements and footnotes for the year ended December 31, 2022 included in Financial’s Annual Report on Form 10-K. Results for the three and nine month periods ended September 30, 2023 is not necessarily indicative of the results that may be expected for the year ending December 31, 2023. |
Significant Accounting Policies
Significant Accounting Policies And Estimates | 9 Months Ended |
Sep. 30, 2023 | |
Significant Accounting Policies And Estimates [Abstract] | |
Significant Accounting Policies And Estimates | Note 2 – Significant Accounting Policies and Estimates The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America which require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to the determination of the allowance for credit losses for loans. Significant Accounting Policies and Estimates Application of the principles of GAAP and practices within the banking industry requires management to make estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements may reflect different estimates, assumptions, and judgments. Certain policies inherently rely more extensively on the use of estimates, assumptions, and judgments and as such may have a greater possibility of producing results that could be materially different than originally reported. The Company’s significant accounting policies followed in the preparation of the unaudited consolidated financial statements are disclosed in Note 1 of the audited financial statements and notes for the year ended December 31, 2022 and are contained in the Company’s 2022 Annual Report on Form 10-K. There have been no significant changes to the application of significant accounting policies since December 31, 2022, except for the following: Accounting Standards Adopted in 2023 ASU 2016-13: On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The CECL methodology requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost are presented at the net amount expected to be collected by using an allowance for credit losses. In addition, CECL made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities if management does not intend to sell and does not believe that it is more likely than not, they will be required to sell. The Company adopted ASC 326 and all related subsequent amendments thereto effective January 1, 2023 using the modified retrospective approach for all financial assets measured at amortized cost and off-balance sheet credit exposures. At adoption, the after Note 2 – Significant Accounting Policies and Estimates (continued) tax impact to retained earnings was an approximate reduction of $ 1.6 million based on our evaluation as of that date. This adjustment consisted of increases to the allowance for credit losses on loans, as well as the Company’s allowance for unfunded loan commitments. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2023. As of December 31, 2022, the Company did no t have any other-than-temporarily impaired investment securities. The Company did no t record an allowance for credit losses for securities classified as available-for-sale or held-to-maturity upon adoption. The Company elected not to measure an allowance for credit losses for accrued interest receivable and instead elected to reverse interest income on loans or securities that are placed on nonaccrual status, which is generally when the instrument is 90 days past due, or earlier if the Company believes the collection of interest is doubtful. The Company has concluded that this policy results in the timely reversal of uncollectible interest. Allowance for Credit Losses - Held-to-Maturity Securities The primary indicators of credit quality for the Company’s held-to-maturity portfolio are security type and credit rating, which are influenced by a number of factors including obligor cash flow, geography, seniority, among other factors. Currently, the Company’s held-to-maturity securities consist completely of securities covered by the explicit or implied guarantee of the United States government or one of its agencies. Changes in the allowance for credit loss are recorded as provision for (or recovery of) credit losses in the Consolidated Statements of Income. The Company did no t have an allowance for credit losses on held-to-maturity securities as of September 30, 2023 or upon adoption of ASC 326. Allowance for Credit Losses - Available-for-Sale Securities Management evaluates all available-for-sale securities in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company evaluates whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specific to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected are compared to the amortized cost basis of the security and any deficiency is recorded as an allowance for credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any amount of unrealized loss that has not been recorded through an allowance for credit loss is recognized in other comprehensive income. Changes in the allowance for credit loss are recorded as a provision for (or recovery of) credit losses in the Consolidated Statements of Income. Losses are charged against the allowance for credit loss when management believes an available-for-sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met. At September 30, 2023, there was no allowance for credit loss related to the available-for-sale portfolio. As set forth under “Interest receivable” on the Company’s Consolidated Balance Sheets, accrued interest receivable on available-for-sale securities totaled approximately $ 1.09 million at September 30, 2023 and was excluded from the estimate of credit losses. Note 2 – Significant Accounting Policies and Estimates (continued) Allowance for Credit Losses - Loans The allowance for loan credit losses represents an amount which, in management’s judgment, is adequate to absorb the lifetime expected losses that may be sustained on outstanding loans at the balance sheet date based on the evaluation of the size and current risk characteristics of the loan portfolio, past events, current conditions, reasonable and supportable forecasts of future economic conditions, and prepayment experience. The allowance for loan credit losses is measured and recorded upon the initial recognition of a financial asset. The allowance for loan credit losses is reduced by charge-offs, net of recoveries of previous losses, and is increased or decreased by a provision for (or recovery of) credit losses, which is recorded in the Consolidated Statements of Income. The Company is utilizing a discounted cash flow model to estimate its current expected credit losses. For the purposes of calculating its quantitative reserves, the Company has segmented its loan portfolio based on loans which share similar risk characteristics. Within the quantitative portion of the calculation, the Company utilizes at least one or a combination of loss drivers, which may include unemployment rates and/or gross domestic product (“GDP”), to adjust its loss rates over a reasonable and supportable forecast period of one year. A straight-line reversion technique is used for the following four quarters, at which time the Company reverts to historical averages. To further adjust the allowance for credit losses for expected losses not already included within the quantitative component of the calculation, the Company may consider qualitative factors, including but not limited to: variability in the economic forecast, changes in volume and severity of adversely classified loans, changes in concentrations of credit, changes in the nature and volume of the loan segments, factors related to credit administration, and other idiosyncratic risks not embedded in the data used in the model. Loans that do not share risk characteristics are evaluated on an individual basis. The Company designates individually evaluated loans on nonaccrual status as collateral dependent loans, as well as other loans that management of the Company designates as having higher risk and loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses. Under CECL, for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The adoption of CECL did not result in a significant change to any other credit risk management and monitoring processes, including identification of past due or delinquent borrowers, nonaccrual practices or charge-off policy. Allowance for Credit Losses – Unfunded Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to provision for (or recovery of) credit losses in the Consolidated Statements of Income. The allowance for credit losses on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodology as the loan portfolio, taking into consideration the likelihood that funding will occur as well as any third-party guarantees. The allowance for unfunded commitments is included in other liabilities on the Company’s consolidated balance sheets. Accrued Interest Receivable The Company has elected to exclude accrued interest from the amortized cost basis in its determination of the allowance for credit losses for both loans and held-to-maturity securities, as well as elected the policy to write-off accrued interest receivable directly through the reversal of interest income. Accrued interest totaled approximately $ 1.62 million on loans and $ 16 thousand on held-to-maturity securities at September 30, 2023, and is included in “Interest Receivable” on the Company’s Consolidated Balance Sheets. ASU 2022-02: On January 1, 2023, the Company adopted ASU 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for troubled debt restructurings (“TDRs”) by creditors that have adopted the CECL model and enhance the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the amendments require that the Company disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The Company adopted the standard prospectively and it did not have a material impact on the financial statements. |
Earnings Per Common Share (EPS)
Earnings Per Common Share (EPS) | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Common Share (EPS) [Abstract] | |
Earnings Per Common Share (EPS) | Note 3 – Earnings Per Common Share (EPS) The following is a summary of the earnings per share calculation for the three and nine months ended September 30, 2023 and 2022. Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Net income $ 2,078,000 $ 2,574,000 $ 6,596,000 $ 7,005,000 Weighted average number of shares outstanding - basic and diluted 4,543,338 4,683,581 4,568,789 4,721,423 Earnings per common share - basic and diluted $ 0.46 $ 0.55 $ 1.44 $ 1.48 In 2022, all restricted stock units (RSUs) were excluded from calculating diluted earnings per share as the Company elected to settle units vesting in 2022 wholly in cash. There are currently no outstanding RSUs as of September 30, 2023. There were no potentially dilutive shares outstanding in 2023 and 2022. Consequently, the weighted average shares and weighted average diluted shares were identical. |
Stock Based Compensation
Stock Based Compensation | 9 Months Ended |
Sep. 30, 2023 | |
Stock Based Compensation [Abstract] | |
Stock Based Compensation | Note 4 – Stock Based Compensation Accounting standards require companies to recognize the cost of employee services received in exchange for awards of equity instruments, such as stock options and restricted stock, based on the fair value of those awards. At the annual meeting of shareholders held on May 15, 2018, the shareholders approved the Bank of the James Financial Group, Inc. 2018 Equity Incentive Plan (the “2018 Incentive Plan”). The 2018 Incentive Plan permits the issuance of up to 250,000 shares of common stock for awards to key employees of the Company and its subsidiaries in the form of stock options, restricted stock, restricted stock units, stock awards and performance units. On January 2, 2019, the Company granted its first block of equity compensation under the 2018 Incentive Plan consisting of 24,500 restricted stock units. The recipients of restricted stock units do not receive shares of the Company’s stock immediately, but instead may receive shares, cash in lieu of shares, or a combination thereof upon satisfying the requisite service period specified by the terms and conditions of the grant. Additionally, the recipients of restricted stock units do not enjoy the rights of holder of the Company’s common stock until the units have vested and as such, they do not have voting rights or rights to nonforfeitable dividends. The related compensation expense is based on the fair value of the Company’s stock. The RSUs granted in 2019 vested over 3 years in thirds. The first one -third vested on January 2, 2020, the second one -third vested on January 2, 2021 and the final one -third vested January 2, 2022. The value of all of the vested portions of the grant were settled with cash payments and no shares were issued. The total expense recognized for the three and nine months ended September 30, 2023 and 2022 in connection with the restricted stock unit awards was $ 0 . At September 30, 2023, there is no further unrecognized stock-based compensation expense related to the restricted stock units granted on January 2, 2019 as all units have vested and have been settled. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 5 – Fair Value Measurements Determination of Fair Value The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. In accordance with the Fair Value Measurements and Disclosures topic of FASB ASC, the fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market and in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for the Company’s various financial instruments. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. The fair value guidance provides a consistent definition of fair value, which focuses on exit price in the principal or most advantageous market and in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. Fair Value Hierarchy In accordance with this guidance, the Company groups its financial assets and financial liabilities generally measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 inputs to the valuation methodology are unobservable and significant to the fair value measurement. Fair Value on a Recurring Basis Securities Available-for-Sale Fair values of securities available-for sale are based on quoted prices available in an active market. If quoted prices are available, these securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. Currently, all of the Company’s securities are considered to be Level 2 securities. Note 5 – Fair Value Measurements (continued) Derivatives Assets/Liabilities – Interest Rate Lock Commitments (IRLCs) The Company recognizes IRLCs at fair value based on the price of the underlying loans obtained from an investor for loans that will be delivered on a best efforts basis while taking into consideration the probability that the rate lock commitments will close. All of the Company’s IRLCs are classified as Level 3. The below tables summarize the Company’s financial assets that were measured at fair value on a recurring basis during the period. Carrying Value at September 30, 2023 (in thousands) Quoted Prices Significant Significant in Active Other Unobservable Balance as of Markets for Observable Inputs September 30, Identical Assets Inputs (Level 3) Description 2023 (Level 1) (Level 2) U.S. Treasuries $ 4,884 $ — $ 4,884 $ — U.S. agency obligations 59,528 — 59,528 — Mortgage-backed securities 65,285 — 65,285 — Municipals 37,780 — 37,780 — Corporates 14,500 — 14,500 — Total available-for-sale securities $ 181,977 $ — $ 181,977 $ — IRLCs - asset 50 — — 50 Total assets at fair value $ 182,027 $ — $ 181,977 $ 50 Carrying Value at December 31, 2022 (in thousands) Quoted Prices Significant Significant in Active Other Unobservable Balance as of Markets for Observable Inputs December 31, Identical Assets Inputs (Level 3) Description 2022 (Level 1) (Level 2) U.S. Treasuries $ 4,741 $ — $ 4,741 $ — U.S. agency obligations 59,273 — 59,273 — Mortgage-backed securities 67,842 — 67,842 — Municipals 37,855 — 37,855 — Corporates 16,076 — 16,076 — Total available-for-sale securities $ 185,787 $ — $ 185,787 $ — IRLCs – asset 91 — — 91 Total assets at fair value $ 185,878 $ — $ 185,787 $ 91 Note 5 – Fair Value Measurements (continued) The following table provides additional quantitative information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value: Quantitative information about Level 3 Fair Value Measurements for September 30, 2023 (dollars in thousands) Fair Value Valuation Technique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs – asset $ 50 Market approach Range of pull through rate 70 % - 100 % ( 85 %) (1) Weighted based on the relative value of the instruments Quantitative information about Level 3 Fair Value Measurements for December 31, 2022 (dollars in thousands) Fair Value Valuation Technique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs - asset $ 91 Market approach Range of pull through rate 70 % - 100 % ( 85 %) (1) Weighted based on the relative value of the instruments Fair Value on a Non-recurring Basis Collateral Dependent Loans with an ACLL In accordance with ASC 326 , we may determine that an individual loan exhibits unique risk characteristics which differentiate it from other loans within our loan pools. In such cases, the loans are evaluated for expected credit losses on an individual basis and excluded from the collective evaluation. Specific allocations of the allowance for credit losses are determined by analyzing the borrower’s ability to repay amounts owed, collateral deficiencies, the relative risk grade of the loan and economic conditions affecting the borrower’s industry, among other things. A loan is considered to be collateral dependent when, based upon management’s assessment, the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. In such cases, expected credit losses are based on the fair value of the collateral at the measurement date, adjusted for estimated selling costs if satisfaction of the loan depends on the sale of the collateral. We reevaluate the fair value of collateral supporting collateral dependent loans on a quarterly basis. The fair value of real estate collateral supporting collateral dependent loans is evaluated by appraisal services using a methodology that is consistent with the Uniform Standards of Professional Appraisal Practice. As of September 30, 2023, we had no collateral dependent loans with an ACLL. Loans held for sale Loans held for sale are carried at cost which approximates estimated fair value. These loans currently consist of one-to-four family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2). As such, the Company records fair value adjustments on a nonrecurring basis. No nonrecurring fair value adjustments were recorded on loans held for sale during the period ended September 30, 2023. Gains and losses on the sale of loans are recorded within gains on sales of loans held for sale on the Consolidated Statements of Income. Other real estate owned Certain assets such as other real estate owned (OREO) are measured at fair value less cost to sell. We believe that the fair value component in its valuation follows the provisions of ASC 820. Real estate acquired through foreclosure is transferred to OREO. The measurement of loss associated with OREO is based on the fair value of the collateral compared to the unpaid loan balance and anticipated costs to sell the property. The value of OREO property is determined utilizing an income or market valuation approach based on an appraisal conducted by an independent, licensed appraiser outside of the Bank using observable market data (Level 2). Note 5 – Fair Value Measurements (continued) Any fair value adjustments are recorded in the period incurred and expensed against current earnings. However, in situations where the collateral is a house or building in the process of construction, the appraisal is more than 12 months old, management has determined the fair value of the collateral is further impaired below the appraised value, or the appraisal is not based solely on market comparables adjusted for observable inputs, the value is considered Level 3. There was no OREO as of September 30, 2023. The following table summarizes the Company’s collateral dependent loans and OREO measured at fair value on a nonrecurring basis as of December 31, 2022 (in thousands): Carrying Value at December 31, 2022 Description Balance as of December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans* $ 854 $ — $ — $ 854 Other real estate owned 566 — — 566 * Includes loans charged down to the net realizable value of the collateral. The following table sets forth information regarding the quantitative inputs used to value assets classified as Level 3: Quantitative information about Level 3 Fair Value Measurements for December 31, 2022 (dollars in thousands) Fair Value Valuation Technique(s) Unobservable Input Range (Weighted Average) (1) Assets Impaired loans $ 854 Discounted appraised value Selling cost 0 % - 10 % ( 8 %) Discount for lack of marketability and age of appraisal 0 % - 20 % ( 6 %) OREO 566 Discounted appraised value Selling cost 10 % Discount for lack of marketability and age of appraisal 0 % - 27 % ( 26 %) (1) Weighted based on the relative value of the instruments. Financial Instruments FASB ASC 825, Financial Instruments, requires disclosure about fair value of financial instruments, including those financial assets and financial liabilities that are not required to be measured and reported at fair value on a recurring or nonrecurring basis. ASC 825 excludes certain financial instruments and all nonfinancial instruments from its disclosure requirements. Accordingly, the aggregate fair value amounts presented may not necessarily represent the underlying fair value of the Company. The carrying amounts and estimated fair values of the Company’s financial instruments are presented in the following tables whether or not recognized on the Consolidated Balance Sheets at fair value. Note 5 – Fair Value Measurements (continued) The estimated fair values, and related carrying or notional amounts, of Financial’s financial instruments and their placement in the fair value hierarchy at September 30, 2023 and December 31, 2022 was as follows (in thousands): Fair Value Measurements at September 30, 2023 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks $ 20,105 $ 20,105 $ - $ - $ 20,105 Federal funds sold 79,424 79,424 - - 79,424 Securities Available-for-sale 181,977 - 181,977 - 181,977 Held-to-maturity, net 3,626 - 3,028 - 3,028 Restricted stock 1,541 - 1,541 - 1,541 Loans, net (1) 599,585 - - 561,420 561,420 Loans held for sale 3,325 - 3,325 - 3,325 Interest receivable 2,707 - 2,707 - 2,707 BOLI 21,443 - 21,443 - 21,443 Derivatives - IRLCs 50 - - 50 50 Liabilities Deposits $ 880,203 $ - $ 876,005 $ - 876,005 Capital notes 10,041 - 9,411 - 9,411 Other borrowings 10,030 - 9,532 - 9,532 Interest payable 381 - 381 - 381 Fair Value Measurements at December 31, 2022 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks 30,025 $ 30,025 $ - $ - $ 30,025 Federal funds sold 31,737 31,737 - - 31,737 Securities Available-for-sale 185,787 - 185,787 - 185,787 Held-to-maturity 3,639 - 3,135 - 3,135 Restricted stock 1,387 - 1,387 - 1,387 Loans, net (1) 605,366 - — 564,802 564,802 Loans held for sale 2,423 - 2,423 - 2,423 Interest receivable 2,736 - 2,736 - 2,736 BOLI 19,237 - 19,237 - 19,237 Derivatives - IRLCs 91 - — 91 91 Liabilities Deposits $ 848,138 $ - $ 850,102 $ - $ 850,102 Capital notes 10,037 - 9,200 - 9,200 Other borrowings 10,457 - 9,438 - 9,438 Interest payable 89 - 89 - 89 (1) Carrying amount is net of unearned income and the Allowance. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2023 | |
Securities [Abstract] | |
Securities | Note 6 – Securities The following tables summarize the Bank’s holdings for both securities held-to-maturity and securities available-for-sale as of September 30, 2023 and December 31, 2022 (amounts in thousands): September 30, 2023 Amortized Gross Unrealized Fair Cost Gains Losses Value Held-to-maturity U.S. agency obligations $ 3,626 $ — $ ( 598 ) $ 3,028 Available-for-sale U.S. Treasuries $ 4,967 $ — $ ( 83 ) $ 4,884 U.S. agency obligations 69,591 — ( 10,063 ) 59,528 Mortgage-backed securities 78,702 — ( 13,417 ) 65,285 Municipals 50,884 — ( 13,104 ) 37,780 Corporates 15,527 — ( 1,027 ) 14,500 $ 219,671 $ — $ ( 37,694 ) $ 181,977 December 31, 2022 Amortized Gross Unrealized Fair Cost Gains Losses Value Held-to-maturity U.S. agency obligations $ 3,639 $ — $ ( 504 ) $ 3,135 Available-for-sale U.S. Treasuries $ 4,912 $ — $ ( 171 ) $ 4,741 U.S. agency obligations 68,833 — ( 9,560 ) 59,273 Mortgage-backed securities 78,955 — ( 11,113 ) 67,842 Municipals 49,951 — ( 12,096 ) 37,855 Corporates 17,037 — ( 961 ) 16,076 $ 219,688 $ — $ ( 33,901 ) $ 185,787 Note 6 – Securities (continued) The following tables summarize the fair value of securities available for sale as of September 30, 2023 and securities available for sale and held-to- maturity as of December 31, 2022 and the corresponding amounts of unrealized losses. Management uses the valuation as of month-end in determining when securities are in an unrealized loss position (amounts in thousands): September 30, 2023 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available-for-sale U.S. Treasuries $ — $ — $ 4,884 $ 83 $ 4,884 $ 83 U.S. agency obligations 996 1 58,532 10,062 59,528 10,063 Mortgage-backed securities 5,154 120 60,131 13,297 65,285 13,417 Municipals 1,638 183 36,142 12,921 37,780 13,104 Corporates — — 6,500 1,027 6,500 1,027 Total $ 7,788 $ 304 $ 166,189 $ 37,390 $ 173,977 $ 37,694 December 31, 2022 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Held-to-maturity U.S. agency obligations $ 3,135 $ 504 $ — $ — $ 3,135 $ 504 Available-for-sale U.S. Treasuries 4,741 171 — — 4,741 171 U.S. agency obligations 27,708 2,838 31,565 6,722 59,273 9,560 Mortgage-backed securities 42,024 5,656 25,818 5,457 67,842 11,113 Municipals 10,847 2,245 27,008 9,851 37,855 12,096 Corporates 6,568 469 1,508 492 8,076 961 Total temporarily impaired securities $ 95,023 $ 11,883 $ 85,899 $ 22,522 $ 180,922 $ 34,405 As of September 30, 2023, the Bank owned 121 securities in an unrealized loss position. Of the securities, 51 were S&P rated AAA, 63 were rated AA, five were rated A, one was rated BBB, and one was non-rated. As of September 30, 2023, 53 of these securities were municipal issues, 60 were backed by the U.S. government, and eight were issues of publicly traded domestic corporations. The Company monitors its municipal and corporate securities by periodically reviewing the issuer’s cash-flow and revenue streams, as well as other economic factors that could affect the issuer’s ability to service and/or repay the debt. The Company has evaluated available for sale securities in an unrealized loss position for credit related impairment at September 30, 2023 and concluded no impairment existed based on a combination of factors, which included: (1) the securities are of high credit quality (2) unrealized losses are primarily the result of market volatility and increases in market interest rates, (3) the contractual terms of the investments do not permit the issuers to settle the securities at a price less than the par value of each investment, (4) issuers continue to make timely principal and interest payments, and (5) the Company does not intend to sell any of the investments before recovery of its amortized cost basis, nor is it likely that management will be required to sell the securities. As such, there was no t an allowance for credit losses on available-for-sale securities at September 30, 2023. The Company’s held-to-maturity portfolio is covered by the explicit or implied guarantee of the United States government or one of its agencies and rated investment grade or higher. As a result, the Company did not have an allowance for credit losses on held-to-maturity securities as of September 30, 2023 or upon adoption of ASC 326. All held-to-maturity and available for sale securities were current with no securities past due or on nonaccrual as of September 30, 2023. Note 6 – Securities (continued) There were no sales of available-for-sale securities during the three and nine months ended September 30, 2023 and 2022. The amortized costs and fair values of securities at September 30, 2023, by contractual maturity, are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. September 30, 2023 Amortized Costs Fair Value Held-to-maturity: Due in one year or less $ - $ - Due after one year through five years - - Due after five years through ten years 2,422 2,079 Due after ten years 1,204 949 Total securities Held-to-maturity $ 3,626 $ 3,028 Amortized Costs Fair Value Available-for-sale: Due in one year or less $ 5,963 $ 5,879 Due after one year through five years 43,680 39,461 Due after five years through ten years 66,288 56,046 Due after ten years 103,740 80,591 Total securities Available-for-sale $ 219,671 $ 181,977 |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2023 | |
Business Segments [Abstract] | |
Business Segments | Note 7 – Business Segments The Company has three reportable business segments: (i) a traditional full-service community banking segment, (ii) a mortgage loan origination business, and (iii) a registered investment advisory business (sometimes referred to as the wealth management business). The community banking business segment includes Bank of the James which provides loans, deposits, investments and insurance to retail and commercial customers throughout Region 2000 and other areas within Central Virginia. The mortgage segment provides a variety of mortgage loan products principally within Region 2000. Mortgage loans are originated and sold in the secondary market through purchase commitments from investors with servicing released. Because of the pre-arranged purchase commitments, there is minimal risk to the Company. The investment advisory business offers investment advisory services through Financial’s wholly-owned subsidiary, Pettyjohn, Wood & White, Inc. All of the Company’s reportable segments are service based. The mortgage business is a gain on sale business and the investment advisory business is fee for service based, while the Bank’s primary source of revenue is net interest income. The Bank also provides a referral network for the mortgage origination business and the investment advisory business. The mortgage business may also be in a position to refer its customers to the Bank for banking services when appropriate. Information about reportable business segments and reconciliation of such information to the consolidated financial statements for the three and nine months ended September 30, 2023 and 2022 was as follows (dollars in thousands): Note 7 – Business Segments (continued) Business Segments Investment Community Advisory Banking Mortgage Services Total For the three months ended September 30, 2023 Net interest income $ 7,364 $ - $ - $ 7,364 Recovery of credit losses ( 164 ) - - ( 164 ) Net interest income after recovery of credit losses 7,528 - - 7,528 Noninterest income 1,162 989 1,050 3,201 Noninterest expenses 6,661 1,073 406 8,140 Income (loss) before income taxes 2,029 ( 84 ) 644 2,589 Income tax expense (benefit) 393 ( 17 ) 135 511 Net income (loss) $ 1,636 $ ( 67 ) $ 509 $ 2,078 Total assets $ 945,407 $ 3,781 $ 11,699 $ 960,887 For the three months ended September 30, 2022 Net interest income $ 7,900 $ - $ - $ 7,900 Recovery of credit losses ( 300 ) - - ( 300 ) Net interest income after recovery of credit losses 8,200 - - 8,200 Noninterest income 1,423 1,472 959 3,854 Noninterest expenses 7,095 1,280 504 8,879 Income before income taxes 2,528 192 455 3,175 Income tax expense 505 40 56 601 Net income $ 2,023 $ 152 $ 399 $ 2,574 Total assets $ 944,890 $ 4,081 $ 13,599 $ 962,570 Investment Community Advisory Banking Mortgage Services Total For the nine months ended September 30, 2023 Net interest income $ 22,351 $ - $ - $ 22,351 Recovery of credit losses ( 278 ) - - ( 278 ) Net interest income after recovery of credit losses 22,629 - - 22,629 Noninterest income 3,526 3,065 3,098 9,689 Noninterest expenses 19,751 2,705 1,635 24,091 Income before income taxes 6,404 360 1,463 8,227 Income tax expense 1,248 76 307 1,631 Net income $ 5,156 $ 284 $ 1,156 $ 6,596 Total assets $ 945,407 $ 3,781 $ 11,699 $ 960,887 For the nine months ended September 30, 2022 Net interest income $ 21,414 $ - $ - $ 21,414 Recovery of credit losses ( 900 ) - - ( 900 ) Net interest income after recovery of credit losses 22,314 - - 22,314 Noninterest income 2,909 4,675 2,935 10,519 Noninterest expenses 18,596 3,889 1,634 24,119 Income before income taxes 6,627 786 1,301 8,714 Income tax expense 1,310 165 234 1,709 Net income $ 5,317 $ 621 $ 1,067 $ 7,005 Total assets $ 944,890 $ 4,081 $ 13,599 $ 962,570 |
Loans, Allowance For Credit Los
Loans, Allowance For Credit Losses And OREO | 9 Months Ended |
Sep. 30, 2023 | |
Loans, Allowance For Credit Losses And OREO [Abstract] | |
Loans, allowance for credit losses and OREO | Note 8 – Loans, allowance for credit losses and OREO On January 1, 2023, the Company adopted the amendments within ASU 2016-13 using the modified retrospective method for all financial assets measured at amortized cost and off-balance sheet credit exposures. Accordingly, the Company’s financials results for reporting periods beginning after January 1, 2023 are presented in accordance with ASC 326 while prior period amounts have not been adjusted and continue to be reported with legacy GAAP. For a detailed discussion of the impact of the adoption of ASU 2016-13 and information related to loans and credit quality, including accounting policies and methodologies used to estimate the allowance for credit losses, see Note 1. The Company’s primary portfolio segments have changed to align with the methodology applied in estimating the allowance for credit losses under CECL and are reflected as such in the disclosures as of and for the period ended September 30, 2023 as provided below. Previously, management’s established methodology used to determine the adequacy of the allowance for credit losses that assessed the risks and losses expected in the loan portfolio. For purposes of determining the allowance for credit losses prior to the adoption of CECL, the Bank segmented certain loans in the portfolio by product type. Within these segments, the Bank sub-segmented its portfolio into classes, based on the associated risks. The classifications set forth below for December 31, 2022 and prior periods do not correspond directly to the classifications set forth in the call report (Form FFIEC 041). Management determined that after the adoption of CECL, the classifications set forth below were more appropriate for use in identifying and managing risk in the loan portfolio. Loan Segments After CECL Adoption: Loan Classes After CECL Adoption: Commercial Commercial and Industrial Loans Commercial Real Estate Commercial Mortgages – Owner Occupied Commercial Mortgages – Non-Owner Occupied Commercial Construction/Land Consumer Consumer Open-End Consumer Closed-End Residential Residential Mortgages Residential Consumer Construction/Land Note 8 – Loans, allowance for credit losses and OREO (continued) A summary of loans, net (1) is as follows (dollars in thousands): As of September 30, 2023 Commercial $ 65,827 Commercial Real Estate: Commercial Mortgages-Owner Occupied 128,646 Commercial Mortgages-Non-Owner Occupied 177,073 Commercial Construction/Land 23,745 Consumer Consumer Open-End 52,023 Consumer Closed-End 25,908 Residential: Residential Mortgages 103,273 Residential Consumer Construction/Land 30,410 Total loans $ 606,905 Less allowance for credit losses 7,320 Net loans $ 599,585 As of December 31, 2022 Commercial $ 95,885 Commercial Real Estate: Commercial Mortgages-Owner Occupied 135,189 Commercial Mortgages-Non-Owner Occupied 206,701 Commercial Construction 12,135 Consumer Consumer Unsecured 2,828 Consumer Secured 95,131 Residential: Residential Mortgages 43,049 Residential Consumer Construction 20,707 Total loans $ 611,625 Less allowance for credit losses 6,259 Net loans $ 605,366 (1) Includes net deferred costs of $ 982 and $ 1,114 as of September 30, 2023 and December 31, 2022, respectively. Note 8 – Loans, allowance for credit losses and OREO (continued) The following table presents the amortized cost basis of collateral dependent loans by loan segment: Collateral Dependent Loans September 30, 2023 (dollars in thousands) Business/Other Assets Real Estate Commercial $ 394 $ - Commercial Real Estate - 3,736 Consumer - 307 Residential - 1,114 Total $ 394 $ 5,157 Impaired loans by class as of and for the period ended December 31, 2022 were as follows: Impaired Loans (dollars in thousands) As of and For the Year Ended December 31, 2022 Unpaid Average Interest Recorded Principal Related Recorded Income 2022 Investment (1) Balance Allowance Investment Recognized With No Related Allowance Recorded: Commercial $ - $ - $ - 9 - Commercial Real Estate Commercial Mortgages-Owner Occupied 554 581 - 1,573 48 Commercial Mortgage Non-Owner Occupied 518 526 - 310 23 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 249 249 - 154 12 Residential Residential Mortgages 1,345 1,428 - 1,331 54 Residential Consumer Construction - - - - - With an Allowance Recorded: Commercial $ - $ - $ - - - Commercial Real Estate Commercial Mortgages-Owner Occupied - - - - - Commercial Mortgage Non-Owner Occupied - - - - - Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured - - - - - Residential Residential Mortgages - - - - - Residential Consumer Construction - - - - - Totals: Commercial $ - $ - $ - $ 9 $ - Commercial Real Estate Commercial Mortgages-Owner Occupied 554 581 - 1,573 48 Commercial Mortgage Non-Owner Occupied 518 526 - 310 23 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 249 249 - 154 12 Residential Residential Mortgages 1,345 1,428 - 1,331 54 Residential Consumer Construction - - - - - $ 2,666 $ 2,784 $ - $ 3,377 $ 137 (1) Recorded Investment is net of charge-offs and interest paid while a loan is in nonaccrual status. Note 8 – Loans, allowance for credit losses and OREO (continued) The following tables present the activity in the allowance for credit losses for the year-to-date periods ended and the distribution of the allowance by segment as of September 30, 2023 and December 31, 2022. Allowance for Credit Losses and Recorded Investment in Loans (dollars in thousands) As of and For the Nine Months Ended September 30, 2023 Commercial 2023 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance, December 31, 2022 $ 1,102 $ 2,902 $ 904 $ 1,351 $ 6,259 Adoption of ASU 2016-13 ( 526 ) 1,157 257 357 1,245 Charge-Offs ( 137 ) - ( 56 ) ( 3 ) ( 196 ) Recoveries 50 91 42 17 200 Provision (Recovery of) 23 ( 187 ) ( 41 ) 17 ( 188 ) Ending Balance, September 30, 2023 512 3,963 1,106 1,739 7,320 Ending Balance: Individually evaluated - - - - - Ending Balance: Collectively evaluated 512 3,963 1,106 1,739 7,320 Totals: $ 512 $ 3,963 $ 1,106 $ 1,739 $ 7,320 Financing Receivables: Ending Balance: Individually evaluated $ 394 $ 3,736 $ 307 $ 1,114 $ 5,551 Ending Balance: Collectively evaluated 65,433 325,728 77,624 132,569 601,354 Totals: $ 65,827 $ 329,464 $ 77,931 $ 133,683 $ 606,905 Note 8 – Loans, allowance for credit losses and OREO (continued) As of and For the Year Ended December 31, 2022 Commercial 2022 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance $ 1,471 $ 3,637 $ 860 $ 947 $ 6,915 Charge-Offs - ( 137 ) ( 25 ) - ( 162 ) Recoveries 104 212 18 72 406 Provision (Recovery of) ( 473 ) ( 810 ) 51 332 ( 900 ) Ending Balance 1,102 2,902 904 1,351 6,259 Ending Balance: Individually evaluated for impairment - - - - - Ending Balance: Collectively evaluated for impairment 1,102 2,902 904 1,351 6,259 Totals: $ 1,102 $ 2,902 $ 904 $ 1,351 $ 6,259 Financing Receivables: Ending Balance: Individually evaluated for impairment $ - $ 1,072 $ 249 $ 1,345 $ 2,666 Ending Balance: Collectively evaluated for impairment 95,885 352,953 97,710 62,411 608,959 Totals: $ 95,885 $ 354,025 $ 97,959 $ 63,756 $ 611,625 Note 8 – Loans, allowance for credit losses and OREO (continued) Credit Quality Indicators The Bank’s internal risk rating system is in place to grade commercial and commercial real estate loans. Category ratings are reviewed periodically by lenders and the credit review area of the Bank based on the borrower’s individual situation. Additionally, internal and external monitoring and review of credits are conducted on an annual basis. Below is a summary and definition of the Bank’s risk rating categories: RATING 1 Excellent RATING 2 Above Average RATING 3 Satisfactory RATING 4 Acceptable / Low Satisfactory RATING 5 Monitor RATING 6 Special Mention RATING 7 Substandard RATING 8 Doubtful RATING 9 Loss We segregate loans into the above categories based on the following criteria and we review the characteristics of each rating at least annually, generally during the first quarter. The characteristics of these ratings are as follows: “Pass.” These are loans having risk ratings of 1 through 4. Pass loans are to persons or business entities with an acceptable financial condition, appropriate collateral margins, appropriate cash flow to service the existing loan, and an appropriate leverage ratio. The borrower has paid all obligations as agreed and it is expected that this type of payment history will continue. When necessary, acceptable personal guarantors support the loan. “Monitor.” These are loans having a risk rating of 5. Monitor loans have currently acceptable risk but may have the potential for a specific defined weakness in the borrower’s operations and the borrower’s ability to generate positive cash flow on a sustained basis. The borrower’s recent payment history may currently or in the future be characterized by late payments. The Bank’s risk exposure is mitigated by collateral supporting the loan. The collateral is considered to be well-margined, well maintained, accessible and readily marketable. “Special Mention.” These are loans having a risk rating of 6. Special Mention loans have weaknesses that deserve management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the asset or in the bank’s credit position at some future date. Special Mention loans are not adversely classified and do not expose an institution to sufficient risk to warrant adverse classification. These loans do warrant more than routine monitoring due to a weakness caused by adverse events. “Substandard.” These are loans having a risk rating of 7. Substandard loans are considered to have specific and well-defined weaknesses that jeopardize the viability of the Bank’s credit extension. The payment history for the loan has been inconsistent and the expected or projected primary repayment source may be inadequate to service the loan. The estimated net liquidation value of the collateral pledged and/or ability of the personal guarantor(s) to pay the loan may not adequately protect the Bank. There is a distinct possibility that the Bank will sustain some loss if the deficiencies associated with the loan are not corrected in the near term. A substandard loan would not automatically meet our definition of impaired unless the loan is significantly past due and the borrower’s performance and financial condition provides evidence that it is probable that the Bank will be unable to collect all amounts due. “Doubtful.” These are loans having a risk rating of 8. Doubtful rated loans have all the weaknesses inherent in a loan that is classified substandard but with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. The possibility of loss is extremely high. “Loss.” These are loans having a risk rating of 9. Loss rated loans are not considered collectible under normal circumstances and there is no realistic expectation for any future payment on the loan. Loss rated loans are fully charged off. Note 8 – Loans, allowance for credit losses and OREO (continued) The table below details the amortized cost of the classes of loans by credit quality indicator and year of origination as of September 30, 2023. Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Revolving Loans Converted to Term Commercial: Risk Rating Pass $ 5,114 $ 4,921 $ 9,499 $ 7,010 $ 2,974 $ 19,014 $ 16,426 $ 64,958 $ 43 Special Mention - - - 134 - - 269 403 - Substandard - 19 233 - 7 207 - 466 180 Total $ 5,114 $ 4,940 $ 9,732 $ 7,144 $ 2,981 $ 19,221 $ 16,695 $ 65,827 $ 223 Commercial Real Estate: Commercial Mort. - Owner Occupied Risk Rating Pass $ 6,944 $ 22,122 $ 46,430 $ 8,181 $ 9,141 $ 32,094 $ 1,115 $ 126,027 $ 162 Special Mention - - - - - 462 - 462 - Substandard 94.00 107 - 46 290 1,620 - 2,157 - Total $ 7,038 $ 22,229 $ 46,430 $ 8,227 $ 9,431 $ 34,176 $ 1,115 $ 128,646 $ 162 Commercial Mort. - Non-Owner Occupied Risk Rating Pass $ 11,874 $ 52,960 $ 35,694 $ 10,344 $ 4,466 $ 54,146 $ 6,416 $ 175,900 $ - Special Mention - - - - - - - - - Substandard - - - - 1,173 - - 1,173 - Total $ 11,874 $ 52,960 $ 35,694 $ 10,344 $ 5,639 $ 54,146 $ 6,416 $ 177,073 $ - Commercial Construction/Land Risk Rating Pass $ 553 $ 6,290 $ 9,935 $ 3,096 $ 635 $ 473 $ 2,357 $ 23,339 $ - Special Mention - - - - - - - - - Substandard - - 406 - - - - 406 - Total $ 553 $ 6,290 $ 10,341 $ 3,096 $ 635 $ 473 $ 2,357 $ 23,745 $ - Consumer: Consumer - Open-End Risk Rating Pass $ - $ - $ - $ - $ - $ - $ 51,804 $ 51,804 $ 1,081 Special Mention - - - - - - - - - Substandard - - - - - - 219 219 - Total $ - $ - $ - $ - $ - $ - $ 52,023 $ 52,023 $ 1,081 Consumer - Closed-End Risk Rating Pass $ 4,128 $ 11,680 $ 675 $ 562 $ 8,034 $ 665 $ - $ 25,744 $ - Special Mention - - - 15 - - - 15 - Substandard - - - - 32 117 - 149 - Total $ 4,128 $ 11,680 $ 675 $ 577 $ 8,066 $ 782 $ - $ 25,908 $ - Residential: Residential Mortgages Risk Rating Pass $ 22,245 $ 24,834 $ 10,276 $ 9,110 $ 7,260 $ 26,378 $ - $ 100,103 $ - Special Mention - - - - - 1,716 - 1,716 - Substandard - - - 105 56 1,293 - 1,454 - Total $ 22,245 $ 24,834 $ 10,276 $ 9,215 $ 7,316 $ 29,387 $ - $ 103,273 $ - Residential Consumer Constr./Land Risk Rating Pass $ 6,116 $ 10,745 $ 6,270 $ 2,520 $ 2,173 $ 2,586 $ - $ 30,410 $ - Special Mention - - - - - - - - - Substandard - - - - - - - - - Total $ 6,116 $ 10,745 $ 6,270 $ 2,520 $ 2,173 $ 2,586 $ - $ 30,410 $ - Totals: Risk Rating Pass $ 56,974 $ 133,552 $ 118,779 $ 40,823 $ 34,683 $ 135,356 $ 78,118 $ 598,285 $ 1,286 Special Mention - - - 149 - 2,178 269 2,596 - Substandard 94 126 639 151 1,558 3,237 219 6,024 180 Total $ 57,068 $ 133,678 $ 119,418 $ 41,123 $ 36,241 $ 140,771 $ 78,606 $ 606,905 $ 1,466 Note 8 – Loans, allowance for credit losses and OREO (continued) The following table details the current period gross charge-offs of loans by year of origination as of September 30, 2023 Current Period Gross Charge-Offs by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Revolving Loans Converted to Term Commercial $ - $ - $ - $ 17 $ - $ 120 $ - $ 137 $ - Commercial Real Estate: Commercial Mortgages-Owner Occupied - - - - - - - - - Commercial Mortgages-Non-Owner Occupied - - - - - - - - - Commercial Construction/Land - - - - - - - - - Consumer: Consumer Open-End - - - - - 6 6 12 - Consumer Closed-End - 25 19 - - - - 44 - Residential: Residential Mortgages - - - - - 3 - 3 - Residential Consumer Construction/Land - - - - - - - - - Total $ - $ 25 $ 19 $ 17 $ - $ 129 $ 6 $ 196 $ - Note 8 – Loans, allowance for credit losses and OREO (continued) The following tables present credit quality information by class of loans as of December 31, 2022. Credit Quality Information - by Class December 31, 2022 2022 Pass Monitor Special Substandard Doubtful Totals Mention Commercial $ 89,889 $ 4,418 $ 1,465 $ 113 $ — $ 95,885 Commercial Real Estate: Commercial Mortgages-Owner Occupied 132,686 1,931 — 572 — 135,189 Commercial Mortgages-Non-Owner Occupied 204,810 — 1,182 709 — 206,701 Commercial Construction 12,126 9 — — — 12,135 Consumer Consumer Unsecured 2,809 — 19 — — 2,828 Consumer Secured 94,788 — — 343 — 95,131 Residential: Residential Mortgages 41,591 — — 1,458 — 43,049 Residential Consumer Construction 19,178 1,529 — — — 20,707 Totals $ 597,877 $ 7,887 $ 2,666 $ 3,195 $ — $ 611,625 Loans on Non-Accrual Status (dollars in thousands) CECL Incurred Loss September 30, 2023 December 31, 2022 Nonaccrual Loans Nonaccrual Loans With No Allowance With an Allowance Total Commercial $ 72 $ - $ 72 $ - Commercial Real Estate: Commercial Mortgages – Owner Occupied 107 - 107 - Commercial Mortgages-Non-Owner Occupied - - - 518 Commercial Construction/Land 406 - 406 - Consumer Consumer Open-End - - - - Consumer Closed-End - - - 20 Residential: Residential Mortgages - - - 95 Residential Consumer Construction - - - - Total $ 585 $ - $ 585 $ 633 Note 8 – Loans, allowance for credit losses and OREO (continued) The following tables present an aging analysis of the loan portfolio by class and past due as of September 30, 2023 and December 31, 2022. Age Analysis of Past Due Loans as of September 30, 2023 Recorded Greater Investment 2023 30-59 Days 60-89 Days than Total Past Total > 90 Days & Past Due Past Due 90 Days Due Current Loans Accruing Commercial $ 72 $ — $ — $ 72 $ 65,755 $ 65,827 $ — Commercial Real Estate: Commercial Mortgages-Owner Occupied — 107 — 107 128,539 128,646 — Commercial Mortgages-Non-Owner Occupied — — — — 177,073 177,073 — Commercial Construction/Land — — — — 23,745 23,745 — Consumer: Consumer Open-End 175 — — 175 51,848 52,023 — Consumer Closed-End 162 — — 162 25,746 25,908 — Residential: Residential Mortgages 595 — — 595 102,678 103,273 — Residential Consumer Construction/Land — — — — 30,410 30,410 — Total $ 1,004 $ 107 $ — $ 1,111 $ 605,794 $ 606,905 $ — Age Analysis of Past Due Loans as of December 31, 2022 2022 Greater Investment 30-59 Days 60-89 Days than Total Past Total > 90 Days & Past Due Past Due 90 Days Due Current Loans Accruing Commercial $ 52 $ 194 $ — $ 246 $ 95,639 $ 95,885 $ — Commercial Real Estate: Commercial Mortgages-Owner Occupied — — — — 135,189 135,189 — Commercial Mortgages-Non-Owner Occupied 55 — — 55 206,646 206,701 — Commercial Construction — 397 — 397 11,738 12,135 — Consumer: Consumer Unsecured 15 — — 15 2,813 2,828 — Consumer Secured 62 — 13 75 95,056 95,131 — Residential: Residential Mortgages 139 — 95 234 42,815 43,049 — Residential Consumer Construction — — — — 20,707 20,707 — Total $ 323 $ 591 $ 108 $ 1,022 $ 610,603 $ 611,625 $ — Note 8 – Loans, allowance for credit losses and OREO (continued) Occasionally, the Bank modifies loans to borrowers experiencing financial difficulties by providing principal forgiveness, term extensions, interest rate reductions or payment deferrals. As the effect of most modifications is already included in the allowance for credit losses due to the measurement methodologies used in its estimate, the allowance for credit losses is typically not adjusted upon modification. When principal forgiveness is provided at modification, the amount forgiven is charged against the allowance for credit losses. There were no loan modifications to borrowers experiencing financial difficulty during the three and nine months ended September 30, 2023. Troubled Debt Restructurings (TDR) There were no loan modifications that would have been classified as TDRs during the three and nine months ended September 30, 2022. There were no loan modifications classified as TDRs within the last twelve months that defaulted during the three and nine months ended September 30, 2022. The Company adopted ASU 2022-02 on January 1, 2023, which eliminated the accounting guidance for TDRs. ACL on Unfunded Commitments The Company maintains an allowance for off-balance sheet credit exposures such as unfunded balances for existing lines of credit, commitments to extend future credit, as well as both standby and commercial letters of credit when there is a contractual obligation to extend credit and when this extension of credit is not unconditionally cancellable by the Company. The allowance for off-balance sheet credit exposures is adjusted as a provision for (or recovery of) credit losses in the Consolidated Statements of Income. The estimate includes consideration of the likelihood that funding will occur, which is based on a historical funding study derived from internal information, and an estimate of expected credit losses on commitments expected to be funded over its estimated life, which are the same loss rates that are used in computing the allowance for loan credit losses. The allowance for credit losses for unfunded loan commitments of $ 690,000 at September 30, 2023, is separately classified within Other Liabilities on the Consolidated Balance Sheets. The following table presents the balance and activity in the ACL for unfunded commitments for the nine months ended September 30, 2023: Allowance for Credit Losses on Unfunded Commitments Balance, December 31, 2022 $ - Adoption of ASU 2016-13 779 Recovery of credit losses ( 89 ) Balance September 30, 2023 $ 690 Note 8 – Loans, allowance for credit losses and OREO (continued) Other Real Estate Owned We also classify other real estate owned (OREO) as a nonperforming asset. OREO represents real property owned by the Bank which was acquired through purchase at foreclosure or from the borrower through a deed in lieu of foreclosure. OREO decreased to $ 0 on September 30, 2023 from $ 566 on December 31, 2022 . The decrease was a result of the sale of two OREO properties for a total of $ 540 , one of which had previously been written down by $ 26 . The following table represents the changes in OREO balance during the nine months ended September 30, 2023 and year ended December 31, 2022. OREO Changes (dollars in thousands) Nine Months Ended Year Ended September 30, 2023 December 31, 2022 Balance at the beginning of the year (net) $ 566 $ 761 Transfers from loans — — Capitalized costs — — Valuation adjustments ( 23 ) ( 195 ) Sales proceeds ( 540 ) — Loss on disposition ( 3 ) — Balance at the end of the period (net) $ — $ 566 At September 30, 2023 and December 31, 2022, the Company had no consumer mortgage loans secured by residential real estate for which foreclosure was in process. The Company held no residential real estate properties in other real estate owned as of September 30, 2023 and December 31, 2022. |
Revenue Recognition
Revenue Recognition | 9 Months Ended |
Sep. 30, 2023 | |
Revenue Recognition [Abstract] | |
Revenue Recognition | Note 9 – Revenue Recognition Topic 606 does not apply to revenue associated with financial instruments, including revenue from loans and securities. Topic 606 is applicable to noninterest revenue streams such as deposit related fees, interchange fees, merchant income, and annuity and insurance commissions. Noninterest revenue streams in-scope of Topic 606 are discussed below. Service Charges Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business checking accounts), monthly service fees, check orders, and other deposit account related fees. The Company’s performance obligation for account analysis fees and monthly service fees is generally satisfied, and the related revenue recognized, over the period in which the service is provided. Check orders and other deposit account related fees are largely transactional based, and therefore, the Company’s performance obligation is satisfied, and related revenue recognized, at a point in time. Payment for service charges on deposit accounts is primarily received immediately or at the end of the month through a direct charge to customers’ accounts. Fees and Commissions Fees, exchange, and other service charges are primarily comprised of debit and credit card income, ATM fees, merchant services income, treasury services income and other service charges. Debit and credit card income is primarily comprised of interchange fees earned whenever the Company’s debit and credit cards are processed through card payment networks such as Visa. ATM fees are primarily generated when a Company cardholder uses a non-Company ATM or a non-Company cardholder uses a Company ATM. Merchant services income mainly represents fees charged to merchants to process their debit and credit card transactions, in addition to account management fees. Treasury services income primarily represents fees charged to customers for sweep, positive pay and lockbox services. Other service charges include revenue from processing wire transfers, bill pay service, cashier’s checks, and other services. The Company’s performance obligation for fees, exchange, and other service charges are largely satisfied, and related revenue recognized, when the services are rendered or upon completion. Payment is typically received immediately or at the end of the month. Note 9 – Revenue Recognition (continued) Wealth Management Fees The Company earns fees from its contracts with its investment advisory clients to manage client assets and for the provision of miscellaneous services. These fees are primarily earned over time as the Company charges its clients on a quarterly (which may not be a calendar quarter) basis in accordance with its investment advisory agreements. Fees are generally assessed based on a tiered scale of the market value of the client’s assets under management at quarter end. Other Other noninterest income consists of other recurring revenue streams such as commissions from sales of mutual funds and other investments, safety deposit box rental fees, and other miscellaneous revenue streams. Commissions from the sale of mutual funds and other investments are recognized on trade date, which is when the Company has satisfied its performance obligation. The Company also receives periodic service fees (i.e., trailers) from mutual fund companies typically based on a percentage of net asset value. Trailer revenue is recorded over time, usually monthly or quarterly, as net asset value is determined. Safe deposit box rental fees are charged to the customer on an annual basis and recognized upon receipt of payment. The Company determined that since rentals and renewals occur fairly consistently over time, revenue is recognized on a basis consistent with the duration of the performance obligation. |
Acquisitions
Acquisitions | 9 Months Ended |
Sep. 30, 2023 | |
Acquisitions [Abstract] | |
Acquisitions | Note 10 – Acquisitions Goodwill arises from business combinations and is generally determined as the excess of fair value of the consideration transferred, plus the fair value of any noncontrolling interests in the acquired entity, over the fair value of the net assets acquired and liabilities assumed as of the acquisition date. Goodwill and intangible assets acquired in a purchase business combination and determined to have an indefinite useful life are not amortized, but tested for impairment at least annually or more frequently if events and circumstances exists that indicate that a goodwill impairment test should be performed. On December 31, 2021, Financial completed its acquisition of all the outstanding shares of Pettyjohn, Wood & White, Inc. (“PWW”), a Lynchburg, Virginia-based investment advisory firm with approximately $ 650 million in assets under management and advisement at the time of the acquisition. The acquisition was undertaken to enhance Financial’s service line offerings as well as augment its noninterest income streams. Following the acquisition, PWW operates as a subsidiary of Financial. The transaction was accounted for using the acquisition method of accounting, and accordingly, assets acquired, liabilities assumed, and consideration transferred were recorded at their estimated fair values on the acquisition date. The fair values were subject to refinement for up to one year after the closing date of the acquisition. The acquisition date fair value of the consideration transferred upon closing on December 31, 2021 totaled $ 10.5 million, which was paid in cash. The preliminary fair values of the assets acquired and liabilities assumed were $ 9.3 million and $ 1.8 million, respectively, resulting in an acquisition date balance of goodwill totaling approximately $ 3.0 million. The principal component of the assets acquired was $ 8.4 million of amortizable intangible assets, which primarily relate to the value of customer relationships acquired with the acquisition of PWW. The Company is amortizing these intangible assets over a 15 -year period using the straight-line method. The Company has selected September 1 of each year as the date to perform the annual impairment test. The Company performed a qualitative assessment of goodwill at September 1, 2022, and concluded that no impairment existed. Intangible assets with definite useful lives are amortized over estimated useful lives to their estimated residual values. Goodwill is the only intangible asset with an indefinite life on our balance sheet. In accordance with the acquisition agreement, a working capital adjustment was paid in 2022 totaling approximately $ 818 thousand to the former owners of PWW. As such, Financial adjusted the total consideration transferred by increasing its investment in PWW by the amount of cash paid and also recorded a corresponding increase to the balance of goodwill. Additionally, in 2022, it was determined a valid IRC 338(h)(10) election was filed, which in effect, will treat the acquisition of PWW’s outstanding shares as an asset acquisition for tax purposes. The balance of goodwill was reduced by $ 1.8 million with a corresponding increase to deferred income taxes (included in the other assets caption) to appropriately reflect this determination. The adjusted balance of goodwill of $ 2.1 million is expected to be deductible for income tax purposes. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements And Other Authoritative Guidance | 9 Months Ended |
Sep. 30, 2023 | |
Recent Accounting Pronouncements And Other Authoritative Guidance [Abstract] | |
Recent accounting pronouncements and other authoritative guidance | Note 11 – Recent accounting pronouncements and other authoritative guidance In October 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-06, “Disclosure Improvements: Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative”. This ASU incorporates certain U.S. Securities and Exchange Commission (SEC) disclosure requirements into the FASB Accounting Standards Codification. The amendments in the ASU are expected to clarify or improve disclosure and presentation requirements of a variety of Codification Topics, allow users to more easily compare entities subject to the SEC’s existing disclosures with those entities that were not previously subject to the requirements, and align the requirements in the Codification with the SEC’s regulations. For entities subject to the SEC’s existing disclosure requirements and for entities required to file or furnish financial statements with or to the SEC in preparation for the sale of or for purposes of issuing securities that are not subject to contractual restrictions on transfer, the effective date for each amendment will be the date on which the SEC removes that related disclosure from its rules. For all other entities, the amendments will be effective two years later. However, if by June 30, 2027, the SEC has not removed the related disclosure from its regulations, the amendments will be removed from the Codification and not become effective for any entity. The Company does not expect the adoption of ASU 2023-06 to have a material impact on its consolidated financial statements. In July 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-03, “Presentation of Financial Statements (Topic 205), Income Statement—Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation—Stock Compensation (Topic 718)”. This ASU amends the FASB Accounting Standards Codification for SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280—General Revision of Regulation S-X: Income or Loss Applicable to Common Stock. ASU 2023-03 is effective upon addition to the FASB Codification. The Company does not expect the adoption of ASU 2023-03 to have a material impact on its consolidated financial statements. In March 2023, the Financial Accounting Standards Board (FASB) issued ASU 2023-01, “Leases (Topic 842): Common Control Arrangements”. These amendments require entities to amortize leasehold improvements associated with common control leases over the useful life to the common control group. The ASU is effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the fiscal year that includes that interim period. Transition can be done either retrospectively or prospectively. The Company does not expect the adoption of ASU 2023-01 to have a material impact on its consolidated financial statements. In December 2022, the Financial Accounting Standards Board (FASB) issued ASU 2022-06, “Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848”. ASU 2022-06 extends the period of time preparers can utilize the reference rate reform relief guidance in Topic 848. The objective of the guidance in Topic 848 is to provide relief during the temporary transition period, so the FASB included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. In 2021, the UK Financial Conduct Authority (FCA) delayed the intended cessation date of certain tenors of USD LIBOR to June 30, 2023. To ensure the relief in Topic 848 covers the period of time during which a significant number of modifications may take place, the ASU defers the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The ASU is effective for all entities upon issuance. The Company continues to assess the impact on the Company’s transition away from LIBOR for its loan and other financial instruments and has determined that there is minimal exposure. |
Basis of Presentation (Policies
Basis of Presentation (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Significant Accounting Policies And Estimates [Abstract] | |
Basis Of Accounting | Bank of the James Financial Group, Inc.’s (“Financial” or the “Company”) primary market area consists of the area commonly referred to as Region 2000 which encompasses the seven jurisdictions of the Town of Altavista, Amherst County, Appomattox County, the Town of Bedford, Bedford County, Campbell County, and the City of Lynchburg. Within the last several years, the Company expanded into Charlottesville, Roanoke, Blacksburg, Harrisonburg, Lexington, Rustburg, and Wytheville. The unaudited consolidated financial statements have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. In management’s opinion the accompanying financial statements, which unless otherwise noted are unaudited, reflect all adjustments, consisting solely of normal recurring accruals, necessary for a fair presentation of the financial information as of September 30, 2023 and for the three and nine months ended September 30, 2023 and 2022 in conformity with accounting principles generally accepted in the United States of America. Additional information concerning the organization and business of Financial, accounting policies followed, and other related information is contained in Financial’s Annual Report on Form 10-K for the year ended December 31, 2022. These financial statements should be read in conjunction with the audited consolidated financial statements and footnotes for the year ended December 31, 2022 included in Financial’s Annual Report on Form 10-K. Results for the three and nine month periods ended September 30, 2023 is not necessarily indicative of the results that may be expected for the year ending December 31, 2023. |
Significant Accounting Polici_2
Significant Accounting Policies And Estimates (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Significant Accounting Policies And Estimates [Abstract] | |
Use of Estimates | The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America which require management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Material estimates that are particularly susceptible to significant changes in the near term relate to the determination of the allowance for credit losses for loans. Significant Accounting Policies and Estimates Application of the principles of GAAP and practices within the banking industry requires management to make estimates, assumptions, and judgments that affect the amounts reported in the financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements may reflect different estimates, assumptions, and judgments. Certain policies inherently rely more extensively on the use of estimates, assumptions, and judgments and as such may have a greater possibility of producing results that could be materially different than originally reported. |
Allowance for Credit Losses | On January 1, 2023, the Company adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (“ASC 326”). This standard replaced the incurred loss methodology with an expected loss methodology that is referred to as the current expected credit loss (“CECL”) methodology. The CECL methodology requires an estimate of credit losses for the remaining estimated life of the financial asset using historical experience, current conditions, and reasonable and supportable forecasts and generally applies to financial assets measured at amortized cost, including loan receivables and held-to-maturity debt securities, and some off-balance sheet credit exposures such as unfunded commitments to extend credit. Financial assets measured at amortized cost are presented at the net amount expected to be collected by using an allowance for credit losses. In addition, CECL made changes to the accounting for available-for-sale debt securities. One such change is to require credit losses to be presented as an allowance rather than as a write-down on available-for-sale debt securities if management does not intend to sell and does not believe that it is more likely than not, they will be required to sell. The Company adopted ASC 326 and all related subsequent amendments thereto effective January 1, 2023 using the modified retrospective approach for all financial assets measured at amortized cost and off-balance sheet credit exposures. At adoption, the after Note 2 – Significant Accounting Policies and Estimates (continued) tax impact to retained earnings was an approximate reduction of $ 1.6 million based on our evaluation as of that date. This adjustment consisted of increases to the allowance for credit losses on loans, as well as the Company’s allowance for unfunded loan commitments. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2023. As of December 31, 2022, the Company did no t have any other-than-temporarily impaired investment securities. The Company did no t record an allowance for credit losses for securities classified as available-for-sale or held-to-maturity upon adoption. The Company elected not to measure an allowance for credit losses for accrued interest receivable and instead elected to reverse interest income on loans or securities that are placed on nonaccrual status, which is generally when the instrument is 90 days past due, or earlier if the Company believes the collection of interest is doubtful. The Company has concluded that this policy results in the timely reversal of uncollectible interest. |
Allowance for Credit Losses - Held-to-Maturity Securities | Allowance for Credit Losses - Held-to-Maturity Securities The primary indicators of credit quality for the Company’s held-to-maturity portfolio are security type and credit rating, which are influenced by a number of factors including obligor cash flow, geography, seniority, among other factors. Currently, the Company’s held-to-maturity securities consist completely of securities covered by the explicit or implied guarantee of the United States government or one of its agencies. Changes in the allowance for credit loss are recorded as provision for (or recovery of) credit losses in the Consolidated Statements of Income. The Company did no t have an allowance for credit losses on held-to-maturity securities as of September 30, 2023 or upon adoption of ASC 326. |
Allowance for Credit Losses - Available-for-Sale Securities | Allowance for Credit Losses - Available-for-Sale Securities Management evaluates all available-for-sale securities in an unrealized loss position on a quarterly basis, and more frequently when economic or market conditions warrant such evaluation. If the Company has the intent to sell the security or it is more likely than not that the Company will be required to sell the security, the security is written down to fair value and the entire loss is recorded in earnings. If either of the above criteria is not met, the Company evaluates whether the decline in fair value is the result of credit losses or other factors. In making the assessment, the Company may consider various factors including the extent to which fair value is less than amortized cost, downgrades in the ratings of the security by a rating agency, the failure of the issuer to make scheduled interest or principal payments and adverse conditions specific to the security. If the assessment indicates that a credit loss exists, the present value of cash flows expected to be collected are compared to the amortized cost basis of the security and any deficiency is recorded as an allowance for credit loss, limited by the amount that the fair value is less than the amortized cost basis. Any amount of unrealized loss that has not been recorded through an allowance for credit loss is recognized in other comprehensive income. Changes in the allowance for credit loss are recorded as a provision for (or recovery of) credit losses in the Consolidated Statements of Income. Losses are charged against the allowance for credit loss when management believes an available-for-sale security is confirmed to be uncollectible or when either of the criteria regarding intent or requirement to sell is met. At September 30, 2023, there was no allowance for credit loss related to the available-for-sale portfolio. As set forth under “Interest receivable” on the Company’s Consolidated Balance Sheets, accrued interest receivable on available-for-sale securities totaled approximately $ 1.09 million at September 30, 2023 and was excluded from the estimate of credit losses. |
Allowance for Credit Losses - Loans | Allowance for Credit Losses - Loans The allowance for loan credit losses represents an amount which, in management’s judgment, is adequate to absorb the lifetime expected losses that may be sustained on outstanding loans at the balance sheet date based on the evaluation of the size and current risk characteristics of the loan portfolio, past events, current conditions, reasonable and supportable forecasts of future economic conditions, and prepayment experience. The allowance for loan credit losses is measured and recorded upon the initial recognition of a financial asset. The allowance for loan credit losses is reduced by charge-offs, net of recoveries of previous losses, and is increased or decreased by a provision for (or recovery of) credit losses, which is recorded in the Consolidated Statements of Income. The Company is utilizing a discounted cash flow model to estimate its current expected credit losses. For the purposes of calculating its quantitative reserves, the Company has segmented its loan portfolio based on loans which share similar risk characteristics. Within the quantitative portion of the calculation, the Company utilizes at least one or a combination of loss drivers, which may include unemployment rates and/or gross domestic product (“GDP”), to adjust its loss rates over a reasonable and supportable forecast period of one year. A straight-line reversion technique is used for the following four quarters, at which time the Company reverts to historical averages. To further adjust the allowance for credit losses for expected losses not already included within the quantitative component of the calculation, the Company may consider qualitative factors, including but not limited to: variability in the economic forecast, changes in volume and severity of adversely classified loans, changes in concentrations of credit, changes in the nature and volume of the loan segments, factors related to credit administration, and other idiosyncratic risks not embedded in the data used in the model. Loans that do not share risk characteristics are evaluated on an individual basis. The Company designates individually evaluated loans on nonaccrual status as collateral dependent loans, as well as other loans that management of the Company designates as having higher risk and loans for which the repayment is expected to be provided substantially through the operation or sale of the collateral. These loans do not share common risk characteristics and are not included within the collectively evaluated loans for determining the allowance for credit losses. Under CECL, for collateral dependent loans, the Company has adopted the practical expedient to measure the allowance for credit losses based on the fair value of collateral. The allowance for credit losses is calculated on an individual loan basis based on the shortfall between the fair value of the loan’s collateral, which is adjusted for liquidation costs/discounts, and amortized cost. If the fair value of the collateral exceeds the amortized cost, no allowance is required. The adoption of CECL did not result in a significant change to any other credit risk management and monitoring processes, including identification of past due or delinquent borrowers, nonaccrual practices or charge-off policy. |
Allowance for Credit Losses - Unfunded Commitments | Allowance for Credit Losses – Unfunded Commitments Financial instruments include off-balance sheet credit instruments, such as commitments to make loans and commercial letters of credit issued to meet customer financing needs. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for off-balance sheet loan commitments is represented by the contractual amount of those instruments. Such financial instruments are recorded when they are funded. The Company records an allowance for credit losses on off-balance sheet credit exposures, unless the commitments to extend credit are unconditionally cancelable, through a charge to provision for (or recovery of) credit losses in the Consolidated Statements of Income. The allowance for credit losses on off-balance sheet credit exposures is estimated by loan segment at each balance sheet date under the current expected credit loss model using the same methodology as the loan portfolio, taking into consideration the likelihood that funding will occur as well as any third-party guarantees. The allowance for unfunded commitments is included in other liabilities on the Company’s consolidated balance sheets. |
Accrued Interest Receivable | Accrued Interest Receivable The Company has elected to exclude accrued interest from the amortized cost basis in its determination of the allowance for credit losses for both loans and held-to-maturity securities, as well as elected the policy to write-off accrued interest receivable directly through the reversal of interest income. Accrued interest totaled approximately $ 1.62 million on loans and $ 16 thousand on held-to-maturity securities at September 30, 2023, and is included in “Interest Receivable” on the Company’s Consolidated Balance Sheets. |
ASU 2022-02 Financial Instruments Credit Losses, Troubled Debt Restructurings and Vintage Disclosures | ASU 2022-02: On January 1, 2023, the Company adopted ASU 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for troubled debt restructurings (“TDRs”) by creditors that have adopted the CECL model and enhance the disclosure requirements for certain loan refinancings and restructurings by creditors when a borrower is experiencing financial difficulty. In addition, the amendments require that the Company disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The Company adopted the standard prospectively and it did not have a material impact on the financial statements. |
Earnings Per Common Share (EP_2
Earnings Per Common Share (EPS) (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Common Share (EPS) [Abstract] | |
Earnings Per Share | Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Net income $ 2,078,000 $ 2,574,000 $ 6,596,000 $ 7,005,000 Weighted average number of shares outstanding - basic and diluted 4,543,338 4,683,581 4,568,789 4,721,423 Earnings per common share - basic and diluted $ 0.46 $ 0.55 $ 1.44 $ 1.48 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Fair Value Assets Measured On Recurring Basis | Carrying Value at September 30, 2023 (in thousands) Quoted Prices Significant Significant in Active Other Unobservable Balance as of Markets for Observable Inputs September 30, Identical Assets Inputs (Level 3) Description 2023 (Level 1) (Level 2) U.S. Treasuries $ 4,884 $ — $ 4,884 $ — U.S. agency obligations 59,528 — 59,528 — Mortgage-backed securities 65,285 — 65,285 — Municipals 37,780 — 37,780 — Corporates 14,500 — 14,500 — Total available-for-sale securities $ 181,977 $ — $ 181,977 $ — IRLCs - asset 50 — — 50 Total assets at fair value $ 182,027 $ — $ 181,977 $ 50 Carrying Value at December 31, 2022 (in thousands) Quoted Prices Significant Significant in Active Other Unobservable Balance as of Markets for Observable Inputs December 31, Identical Assets Inputs (Level 3) Description 2022 (Level 1) (Level 2) U.S. Treasuries $ 4,741 $ — $ 4,741 $ — U.S. agency obligations 59,273 — 59,273 — Mortgage-backed securities 67,842 — 67,842 — Municipals 37,855 — 37,855 — Corporates 16,076 — 16,076 — Total available-for-sale securities $ 185,787 $ — $ 185,787 $ — IRLCs – asset 91 — — 91 Total assets at fair value $ 185,878 $ — $ 185,787 $ 91 |
Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis | Carrying Value at December 31, 2022 Description Balance as of December 31, 2022 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Impaired loans* $ 854 $ — $ — $ 854 Other real estate owned 566 — — 566 * Includes loans charged down to the net realizable value of the collateral. |
Fair Value Carrying And Notional Amounts | Fair Value Measurements at September 30, 2023 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks $ 20,105 $ 20,105 $ - $ - $ 20,105 Federal funds sold 79,424 79,424 - - 79,424 Securities Available-for-sale 181,977 - 181,977 - 181,977 Held-to-maturity, net 3,626 - 3,028 - 3,028 Restricted stock 1,541 - 1,541 - 1,541 Loans, net (1) 599,585 - - 561,420 561,420 Loans held for sale 3,325 - 3,325 - 3,325 Interest receivable 2,707 - 2,707 - 2,707 BOLI 21,443 - 21,443 - 21,443 Derivatives - IRLCs 50 - - 50 50 Liabilities Deposits $ 880,203 $ - $ 876,005 $ - 876,005 Capital notes 10,041 - 9,411 - 9,411 Other borrowings 10,030 - 9,532 - 9,532 Interest payable 381 - 381 - 381 Fair Value Measurements at December 31, 2022 using Quoted Prices Significant in Active Other Significant Markets for Observable Unobservable Carrying Identical Assets Inputs Inputs Assets Amounts (Level 1) (Level 2) (Level 3) Balance Cash and due from banks 30,025 $ 30,025 $ - $ - $ 30,025 Federal funds sold 31,737 31,737 - - 31,737 Securities Available-for-sale 185,787 - 185,787 - 185,787 Held-to-maturity 3,639 - 3,135 - 3,135 Restricted stock 1,387 - 1,387 - 1,387 Loans, net (1) 605,366 - — 564,802 564,802 Loans held for sale 2,423 - 2,423 - 2,423 Interest receivable 2,736 - 2,736 - 2,736 BOLI 19,237 - 19,237 - 19,237 Derivatives - IRLCs 91 - — 91 91 Liabilities Deposits $ 848,138 $ - $ 850,102 $ - $ 850,102 Capital notes 10,037 - 9,200 - 9,200 Other borrowings 10,457 - 9,438 - 9,438 Interest payable 89 - 89 - 89 (1) Carrying amount is net of unearned income and the Allowance. |
Fair Value, Recurring [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Quantitative Information About Assets Measured At Fair Value Level | The following table provides additional quantitative information about assets measured at fair value on a recurring basis and for which we have utilized Level 3 inputs to determine fair value: Quantitative information about Level 3 Fair Value Measurements for September 30, 2023 (dollars in thousands) Fair Value Valuation Technique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs – asset $ 50 Market approach Range of pull through rate 70 % - 100 % ( 85 %) (1) Weighted based on the relative value of the instruments Quantitative information about Level 3 Fair Value Measurements for December 31, 2022 (dollars in thousands) Fair Value Valuation Technique(s) Unobservable Input Range (Weighted Average) (1) Assets IRLCs - asset $ 91 Market approach Range of pull through rate 70 % - 100 % ( 85 %) (1) Weighted based on the relative value of the instruments |
Fair Value, Nonrecurring [Member] | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |
Quantitative Information About Assets Measured At Fair Value Level | Quantitative information about Level 3 Fair Value Measurements for December 31, 2022 (dollars in thousands) Fair Value Valuation Technique(s) Unobservable Input Range (Weighted Average) (1) Assets Impaired loans $ 854 Discounted appraised value Selling cost 0 % - 10 % ( 8 %) Discount for lack of marketability and age of appraisal 0 % - 20 % ( 6 %) OREO 566 Discounted appraised value Selling cost 10 % Discount for lack of marketability and age of appraisal 0 % - 27 % ( 26 %) (1) Weighted based on the relative value of the instruments. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Securities [Abstract] | |
Summary Of Securities Held-To-Maturity And Securities Available-For-Sale | September 30, 2023 Amortized Gross Unrealized Fair Cost Gains Losses Value Held-to-maturity U.S. agency obligations $ 3,626 $ — $ ( 598 ) $ 3,028 Available-for-sale U.S. Treasuries $ 4,967 $ — $ ( 83 ) $ 4,884 U.S. agency obligations 69,591 — ( 10,063 ) 59,528 Mortgage-backed securities 78,702 — ( 13,417 ) 65,285 Municipals 50,884 — ( 13,104 ) 37,780 Corporates 15,527 — ( 1,027 ) 14,500 $ 219,671 $ — $ ( 37,694 ) $ 181,977 December 31, 2022 Amortized Gross Unrealized Fair Cost Gains Losses Value Held-to-maturity U.S. agency obligations $ 3,639 $ — $ ( 504 ) $ 3,135 Available-for-sale U.S. Treasuries $ 4,912 $ — $ ( 171 ) $ 4,741 U.S. agency obligations 68,833 — ( 9,560 ) 59,273 Mortgage-backed securities 78,955 — ( 11,113 ) 67,842 Municipals 49,951 — ( 12,096 ) 37,855 Corporates 17,037 — ( 961 ) 16,076 $ 219,688 $ — $ ( 33,901 ) $ 185,787 |
Gross Unrealized Losses And Fair Value Of The Bank’s Investments | September 30, 2023 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Available-for-sale U.S. Treasuries $ — $ — $ 4,884 $ 83 $ 4,884 $ 83 U.S. agency obligations 996 1 58,532 10,062 59,528 10,063 Mortgage-backed securities 5,154 120 60,131 13,297 65,285 13,417 Municipals 1,638 183 36,142 12,921 37,780 13,104 Corporates — — 6,500 1,027 6,500 1,027 Total $ 7,788 $ 304 $ 166,189 $ 37,390 $ 173,977 $ 37,694 December 31, 2022 Less than 12 months More than 12 months Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses Held-to-maturity U.S. agency obligations $ 3,135 $ 504 $ — $ — $ 3,135 $ 504 Available-for-sale U.S. Treasuries 4,741 171 — — 4,741 171 U.S. agency obligations 27,708 2,838 31,565 6,722 59,273 9,560 Mortgage-backed securities 42,024 5,656 25,818 5,457 67,842 11,113 Municipals 10,847 2,245 27,008 9,851 37,855 12,096 Corporates 6,568 469 1,508 492 8,076 961 Total temporarily impaired securities $ 95,023 $ 11,883 $ 85,899 $ 22,522 $ 180,922 $ 34,405 |
Contractual Maturities Of Investment Securities | September 30, 2023 Amortized Costs Fair Value Held-to-maturity: Due in one year or less $ - $ - Due after one year through five years - - Due after five years through ten years 2,422 2,079 Due after ten years 1,204 949 Total securities Held-to-maturity $ 3,626 $ 3,028 Amortized Costs Fair Value Available-for-sale: Due in one year or less $ 5,963 $ 5,879 Due after one year through five years 43,680 39,461 Due after five years through ten years 66,288 56,046 Due after ten years 103,740 80,591 Total securities Available-for-sale $ 219,671 $ 181,977 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Business Segments [Abstract] | |
Schedule Of Segment Reporting Information, By Segment | Business Segments Investment Community Advisory Banking Mortgage Services Total For the three months ended September 30, 2023 Net interest income $ 7,364 $ - $ - $ 7,364 Recovery of credit losses ( 164 ) - - ( 164 ) Net interest income after recovery of credit losses 7,528 - - 7,528 Noninterest income 1,162 989 1,050 3,201 Noninterest expenses 6,661 1,073 406 8,140 Income (loss) before income taxes 2,029 ( 84 ) 644 2,589 Income tax expense (benefit) 393 ( 17 ) 135 511 Net income (loss) $ 1,636 $ ( 67 ) $ 509 $ 2,078 Total assets $ 945,407 $ 3,781 $ 11,699 $ 960,887 For the three months ended September 30, 2022 Net interest income $ 7,900 $ - $ - $ 7,900 Recovery of credit losses ( 300 ) - - ( 300 ) Net interest income after recovery of credit losses 8,200 - - 8,200 Noninterest income 1,423 1,472 959 3,854 Noninterest expenses 7,095 1,280 504 8,879 Income before income taxes 2,528 192 455 3,175 Income tax expense 505 40 56 601 Net income $ 2,023 $ 152 $ 399 $ 2,574 Total assets $ 944,890 $ 4,081 $ 13,599 $ 962,570 Investment Community Advisory Banking Mortgage Services Total For the nine months ended September 30, 2023 Net interest income $ 22,351 $ - $ - $ 22,351 Recovery of credit losses ( 278 ) - - ( 278 ) Net interest income after recovery of credit losses 22,629 - - 22,629 Noninterest income 3,526 3,065 3,098 9,689 Noninterest expenses 19,751 2,705 1,635 24,091 Income before income taxes 6,404 360 1,463 8,227 Income tax expense 1,248 76 307 1,631 Net income $ 5,156 $ 284 $ 1,156 $ 6,596 Total assets $ 945,407 $ 3,781 $ 11,699 $ 960,887 For the nine months ended September 30, 2022 Net interest income $ 21,414 $ - $ - $ 21,414 Recovery of credit losses ( 900 ) - - ( 900 ) Net interest income after recovery of credit losses 22,314 - - 22,314 Noninterest income 2,909 4,675 2,935 10,519 Noninterest expenses 18,596 3,889 1,634 24,119 Income before income taxes 6,627 786 1,301 8,714 Income tax expense 1,310 165 234 1,709 Net income $ 5,317 $ 621 $ 1,067 $ 7,005 Total assets $ 944,890 $ 4,081 $ 13,599 $ 962,570 |
Loans, Allowance For Credit L_2
Loans, Allowance For Credit Losses And OREO (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Loans, Allowance For Credit Losses And OREO [Abstract] | |
Summary Of Loans, Net | As of September 30, 2023 Commercial $ 65,827 Commercial Real Estate: Commercial Mortgages-Owner Occupied 128,646 Commercial Mortgages-Non-Owner Occupied 177,073 Commercial Construction/Land 23,745 Consumer Consumer Open-End 52,023 Consumer Closed-End 25,908 Residential: Residential Mortgages 103,273 Residential Consumer Construction/Land 30,410 Total loans $ 606,905 Less allowance for credit losses 7,320 Net loans $ 599,585 As of December 31, 2022 Commercial $ 95,885 Commercial Real Estate: Commercial Mortgages-Owner Occupied 135,189 Commercial Mortgages-Non-Owner Occupied 206,701 Commercial Construction 12,135 Consumer Consumer Unsecured 2,828 Consumer Secured 95,131 Residential: Residential Mortgages 43,049 Residential Consumer Construction 20,707 Total loans $ 611,625 Less allowance for credit losses 6,259 Net loans $ 605,366 (1) Includes net deferred costs of $ 982 and $ 1,114 as of September 30, 2023 and December 31, 2022, respectively. |
Amortized Cost Basis of Collateral Dependent Loans | Collateral Dependent Loans September 30, 2023 (dollars in thousands) Business/Other Assets Real Estate Commercial $ 394 $ - Commercial Real Estate - 3,736 Consumer - 307 Residential - 1,114 Total $ 394 $ 5,157 |
Impaired Loans | Impaired Loans (dollars in thousands) As of and For the Year Ended December 31, 2022 Unpaid Average Interest Recorded Principal Related Recorded Income 2022 Investment (1) Balance Allowance Investment Recognized With No Related Allowance Recorded: Commercial $ - $ - $ - 9 - Commercial Real Estate Commercial Mortgages-Owner Occupied 554 581 - 1,573 48 Commercial Mortgage Non-Owner Occupied 518 526 - 310 23 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 249 249 - 154 12 Residential Residential Mortgages 1,345 1,428 - 1,331 54 Residential Consumer Construction - - - - - With an Allowance Recorded: Commercial $ - $ - $ - - - Commercial Real Estate Commercial Mortgages-Owner Occupied - - - - - Commercial Mortgage Non-Owner Occupied - - - - - Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured - - - - - Residential Residential Mortgages - - - - - Residential Consumer Construction - - - - - Totals: Commercial $ - $ - $ - $ 9 $ - Commercial Real Estate Commercial Mortgages-Owner Occupied 554 581 - 1,573 48 Commercial Mortgage Non-Owner Occupied 518 526 - 310 23 Commercial Construction - - - - - Consumer Consumer Unsecured - - - - - Consumer Secured 249 249 - 154 12 Residential Residential Mortgages 1,345 1,428 - 1,331 54 Residential Consumer Construction - - - - - $ 2,666 $ 2,784 $ - $ 3,377 $ 137 (1) Recorded Investment is net of charge-offs and interest paid while a loan is in nonaccrual status. |
Allowance for Credit Losses and Recorded Investment in Loans | Allowance for Credit Losses and Recorded Investment in Loans (dollars in thousands) As of and For the Nine Months Ended September 30, 2023 Commercial 2023 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance, December 31, 2022 $ 1,102 $ 2,902 $ 904 $ 1,351 $ 6,259 Adoption of ASU 2016-13 ( 526 ) 1,157 257 357 1,245 Charge-Offs ( 137 ) - ( 56 ) ( 3 ) ( 196 ) Recoveries 50 91 42 17 200 Provision (Recovery of) 23 ( 187 ) ( 41 ) 17 ( 188 ) Ending Balance, September 30, 2023 512 3,963 1,106 1,739 7,320 Ending Balance: Individually evaluated - - - - - Ending Balance: Collectively evaluated 512 3,963 1,106 1,739 7,320 Totals: $ 512 $ 3,963 $ 1,106 $ 1,739 $ 7,320 Financing Receivables: Ending Balance: Individually evaluated $ 394 $ 3,736 $ 307 $ 1,114 $ 5,551 Ending Balance: Collectively evaluated 65,433 325,728 77,624 132,569 601,354 Totals: $ 65,827 $ 329,464 $ 77,931 $ 133,683 $ 606,905 Note 8 – Loans, allowance for credit losses and OREO (continued) As of and For the Year Ended December 31, 2022 Commercial 2022 Commercial Real Estate Consumer Residential Total Allowance for Credit Losses: Beginning Balance $ 1,471 $ 3,637 $ 860 $ 947 $ 6,915 Charge-Offs - ( 137 ) ( 25 ) - ( 162 ) Recoveries 104 212 18 72 406 Provision (Recovery of) ( 473 ) ( 810 ) 51 332 ( 900 ) Ending Balance 1,102 2,902 904 1,351 6,259 Ending Balance: Individually evaluated for impairment - - - - - Ending Balance: Collectively evaluated for impairment 1,102 2,902 904 1,351 6,259 Totals: $ 1,102 $ 2,902 $ 904 $ 1,351 $ 6,259 Financing Receivables: Ending Balance: Individually evaluated for impairment $ - $ 1,072 $ 249 $ 1,345 $ 2,666 Ending Balance: Collectively evaluated for impairment 95,885 352,953 97,710 62,411 608,959 Totals: $ 95,885 $ 354,025 $ 97,959 $ 63,756 $ 611,625 |
Amortized Cost Basis by Origination Year | Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Revolving Loans Converted to Term Commercial: Risk Rating Pass $ 5,114 $ 4,921 $ 9,499 $ 7,010 $ 2,974 $ 19,014 $ 16,426 $ 64,958 $ 43 Special Mention - - - 134 - - 269 403 - Substandard - 19 233 - 7 207 - 466 180 Total $ 5,114 $ 4,940 $ 9,732 $ 7,144 $ 2,981 $ 19,221 $ 16,695 $ 65,827 $ 223 Commercial Real Estate: Commercial Mort. - Owner Occupied Risk Rating Pass $ 6,944 $ 22,122 $ 46,430 $ 8,181 $ 9,141 $ 32,094 $ 1,115 $ 126,027 $ 162 Special Mention - - - - - 462 - 462 - Substandard 94.00 107 - 46 290 1,620 - 2,157 - Total $ 7,038 $ 22,229 $ 46,430 $ 8,227 $ 9,431 $ 34,176 $ 1,115 $ 128,646 $ 162 Commercial Mort. - Non-Owner Occupied Risk Rating Pass $ 11,874 $ 52,960 $ 35,694 $ 10,344 $ 4,466 $ 54,146 $ 6,416 $ 175,900 $ - Special Mention - - - - - - - - - Substandard - - - - 1,173 - - 1,173 - Total $ 11,874 $ 52,960 $ 35,694 $ 10,344 $ 5,639 $ 54,146 $ 6,416 $ 177,073 $ - Commercial Construction/Land Risk Rating Pass $ 553 $ 6,290 $ 9,935 $ 3,096 $ 635 $ 473 $ 2,357 $ 23,339 $ - Special Mention - - - - - - - - - Substandard - - 406 - - - - 406 - Total $ 553 $ 6,290 $ 10,341 $ 3,096 $ 635 $ 473 $ 2,357 $ 23,745 $ - Consumer: Consumer - Open-End Risk Rating Pass $ - $ - $ - $ - $ - $ - $ 51,804 $ 51,804 $ 1,081 Special Mention - - - - - - - - - Substandard - - - - - - 219 219 - Total $ - $ - $ - $ - $ - $ - $ 52,023 $ 52,023 $ 1,081 Consumer - Closed-End Risk Rating Pass $ 4,128 $ 11,680 $ 675 $ 562 $ 8,034 $ 665 $ - $ 25,744 $ - Special Mention - - - 15 - - - 15 - Substandard - - - - 32 117 - 149 - Total $ 4,128 $ 11,680 $ 675 $ 577 $ 8,066 $ 782 $ - $ 25,908 $ - Residential: Residential Mortgages Risk Rating Pass $ 22,245 $ 24,834 $ 10,276 $ 9,110 $ 7,260 $ 26,378 $ - $ 100,103 $ - Special Mention - - - - - 1,716 - 1,716 - Substandard - - - 105 56 1,293 - 1,454 - Total $ 22,245 $ 24,834 $ 10,276 $ 9,215 $ 7,316 $ 29,387 $ - $ 103,273 $ - Residential Consumer Constr./Land Risk Rating Pass $ 6,116 $ 10,745 $ 6,270 $ 2,520 $ 2,173 $ 2,586 $ - $ 30,410 $ - Special Mention - - - - - - - - - Substandard - - - - - - - - - Total $ 6,116 $ 10,745 $ 6,270 $ 2,520 $ 2,173 $ 2,586 $ - $ 30,410 $ - Totals: Risk Rating Pass $ 56,974 $ 133,552 $ 118,779 $ 40,823 $ 34,683 $ 135,356 $ 78,118 $ 598,285 $ 1,286 Special Mention - - - 149 - 2,178 269 2,596 - Substandard 94 126 639 151 1,558 3,237 219 6,024 180 Total $ 57,068 $ 133,678 $ 119,418 $ 41,123 $ 36,241 $ 140,771 $ 78,606 $ 606,905 $ 1,466 |
Gross Charge-Offs by Origination Year | Current Period Gross Charge-Offs by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Total Revolving Loans Converted to Term Commercial $ - $ - $ - $ 17 $ - $ 120 $ - $ 137 $ - Commercial Real Estate: Commercial Mortgages-Owner Occupied - - - - - - - - - Commercial Mortgages-Non-Owner Occupied - - - - - - - - - Commercial Construction/Land - - - - - - - - - Consumer: Consumer Open-End - - - - - 6 6 12 - Consumer Closed-End - 25 19 - - - - 44 - Residential: Residential Mortgages - - - - - 3 - 3 - Residential Consumer Construction/Land - - - - - - - - - Total $ - $ 25 $ 19 $ 17 $ - $ 129 $ 6 $ 196 $ - |
Credit Quality Information-By Class | Credit Quality Information - by Class December 31, 2022 2022 Pass Monitor Special Substandard Doubtful Totals Mention Commercial $ 89,889 $ 4,418 $ 1,465 $ 113 $ — $ 95,885 Commercial Real Estate: Commercial Mortgages-Owner Occupied 132,686 1,931 — 572 — 135,189 Commercial Mortgages-Non-Owner Occupied 204,810 — 1,182 709 — 206,701 Commercial Construction 12,126 9 — — — 12,135 Consumer Consumer Unsecured 2,809 — 19 — — 2,828 Consumer Secured 94,788 — — 343 — 95,131 Residential: Residential Mortgages 41,591 — — 1,458 — 43,049 Residential Consumer Construction 19,178 1,529 — — — 20,707 Totals $ 597,877 $ 7,887 $ 2,666 $ 3,195 $ — $ 611,625 |
Loans On Non-Accrual Status | CECL Incurred Loss September 30, 2023 December 31, 2022 Nonaccrual Loans Nonaccrual Loans With No Allowance With an Allowance Total Commercial $ 72 $ - $ 72 $ - Commercial Real Estate: Commercial Mortgages – Owner Occupied 107 - 107 - Commercial Mortgages-Non-Owner Occupied - - - 518 Commercial Construction/Land 406 - 406 - Consumer Consumer Open-End - - - - Consumer Closed-End - - - 20 Residential: Residential Mortgages - - - 95 Residential Consumer Construction - - - - Total $ 585 $ - $ 585 $ 633 |
Age Analysis Of Past Due Financing Receivables | Age Analysis of Past Due Loans as of September 30, 2023 Recorded Greater Investment 2023 30-59 Days 60-89 Days than Total Past Total > 90 Days & Past Due Past Due 90 Days Due Current Loans Accruing Commercial $ 72 $ — $ — $ 72 $ 65,755 $ 65,827 $ — Commercial Real Estate: Commercial Mortgages-Owner Occupied — 107 — 107 128,539 128,646 — Commercial Mortgages-Non-Owner Occupied — — — — 177,073 177,073 — Commercial Construction/Land — — — — 23,745 23,745 — Consumer: Consumer Open-End 175 — — 175 51,848 52,023 — Consumer Closed-End 162 — — 162 25,746 25,908 — Residential: Residential Mortgages 595 — — 595 102,678 103,273 — Residential Consumer Construction/Land — — — — 30,410 30,410 — Total $ 1,004 $ 107 $ — $ 1,111 $ 605,794 $ 606,905 $ — Age Analysis of Past Due Loans as of December 31, 2022 2022 Greater Investment 30-59 Days 60-89 Days than Total Past Total > 90 Days & Past Due Past Due 90 Days Due Current Loans Accruing Commercial $ 52 $ 194 $ — $ 246 $ 95,639 $ 95,885 $ — Commercial Real Estate: Commercial Mortgages-Owner Occupied — — — — 135,189 135,189 — Commercial Mortgages-Non-Owner Occupied 55 — — 55 206,646 206,701 — Commercial Construction — 397 — 397 11,738 12,135 — Consumer: Consumer Unsecured 15 — — 15 2,813 2,828 — Consumer Secured 62 — 13 75 95,056 95,131 — Residential: Residential Mortgages 139 — 95 234 42,815 43,049 — Residential Consumer Construction — — — — 20,707 20,707 — Total $ 323 $ 591 $ 108 $ 1,022 $ 610,603 $ 611,625 $ — |
Allowance for Credit Losses on Unfunded Commitments | Allowance for Credit Losses on Unfunded Commitments Balance, December 31, 2022 $ - Adoption of ASU 2016-13 779 Recovery of credit losses ( 89 ) Balance September 30, 2023 $ 690 |
Changes in OREO Balance | Nine Months Ended Year Ended September 30, 2023 December 31, 2022 Balance at the beginning of the year (net) $ 566 $ 761 Transfers from loans — — Capitalized costs — — Valuation adjustments ( 23 ) ( 195 ) Sales proceeds ( 540 ) — Loss on disposition ( 3 ) — Balance at the end of the period (net) $ — $ 566 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2023 item | |
Basis of Presentation [Abstract] | |
Number of jurisdictions | 7 |
Significant Accounting Polici_3
Significant Accounting Policies And Estimates (Narrative) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Sep. 30, 2023 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Retained Earnings (Accumulated Deficit) | $ 31,034,000 | $ 34,931,000 |
Allowance for credit losses on held-to-maturity securities | 0 | 0 |
Interest Receivable | 2,736,000 | 2,707,000 |
Allowance for credit losses on available for sale securities | 0 | 0 |
Other than temporarily impairment | 0 | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Retained Earnings (Accumulated Deficit) | $ (1,600,000) | |
Available-for-sale Debt securities [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Interest Receivable | 1,090,000 | |
Loans [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Interest Receivable | 1,620,000 | |
Securities Held to Maturity [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Interest Receivable | $ 16,000 |
Earnings Per Common Share (EP_3
Earnings Per Common Share (EPS) (Narrative) (Details) - shares | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Earnings Per Common Share (EPS) [Abstract] | ||
Options excluded from calculating diluted EPS because their effect was anti-dilutive | 0 | 0 |
Restricted stock units | 0 |
Earnings Per Common Share (EP_4
Earnings Per Common Share (EPS) (Earnings Per Share) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Earnings Per Common Share (EPS) [Abstract] | ||||||||
Net Income | $ 2,078,000 | $ 2,534,000 | $ 1,984,000 | $ 2,574,000 | $ 2,292,000 | $ 2,139,000 | $ 6,596,000 | $ 7,005,000 |
Weighted average number of shares outstanding - basic | 4,543,338 | 4,683,581 | 4,568,789 | 4,721,423 | ||||
Weighted average shares outstanding – diluted | 4,543,338 | 4,683,581 | 4,568,789 | 4,721,423 | ||||
Earnings per common share – basic | $ 0.46 | $ 0.55 | $ 1.44 | $ 1.48 | ||||
Earnings per common share – diluted | $ 0.46 | $ 0.55 | $ 1.44 | $ 1.48 |
Stock Based Compensation (Narra
Stock Based Compensation (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Jan. 02, 2022 | Jan. 02, 2021 | Jan. 02, 2020 | Jan. 02, 2019 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | May 15, 2018 | |
The 2018 Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Shares authorized | 250,000 | ||||||||
Restricted Stock [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Unrecognized stock based compensation expense | $ 0 | $ 0 | |||||||
Restricted Stock [Member] | The 2018 Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Shares granted | 24,500 | ||||||||
Vested period | 3 years | ||||||||
Shares issued | 0 | 0 | |||||||
Stock based compensation expense | $ 0 | $ 0 | $ 0 | $ 0 | |||||
Year One [Member] | Restricted Stock [Member] | The 2018 Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Percentage of shares vested | 33.30% | ||||||||
Year Two [Member] | The 2018 Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Percentage of shares vested | 33.30% | ||||||||
Year Three [Member] | The 2018 Incentive Plan [Member] | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||
Percentage of shares vested | 33.30% |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) | 9 Months Ended | ||
Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans Receivable, Loan Balances | $ 606,905,000 | $ 611,625,000 | |
Other real estate owned | 0 | 566,000 | $ 761,000 |
Asset Pledged as Collateral [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans Receivable, Loan Balances | 0 | ||
Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Loans held for sale, fair value adjustment | $ 0 | ||
Other real estate owned | 566,000 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Nonrecurring [Member] | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Other real estate owned | $ 566,000 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Assets Measured On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | $ 181,977 | $ 185,787 |
IRLCs - asset | 50 | 91 |
Total assets at fair value | 182,027 | 185,878 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
IRLCs - asset | ||
Total assets at fair value | ||
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 181,977 | 185,787 |
IRLCs - asset | ||
Total assets at fair value | 181,977 | 185,787 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
IRLCs - asset | 50 | 91 |
Total assets at fair value | 50 | 91 |
U.S. Treasuries [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 4,884 | 4,741 |
U.S. Treasuries [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
U.S. Treasuries [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 4,884 | 4,741 |
U.S. Treasuries [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
U.S. Agency Obligations [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 59,528 | 59,273 |
U.S. Agency Obligations [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
U.S. Agency Obligations [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 59,528 | 59,273 |
U.S. Agency Obligations [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Mortgage-Backed Securities [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 65,285 | 67,842 |
Mortgage-Backed Securities [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Mortgage-Backed Securities [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 65,285 | 67,842 |
Mortgage-Backed Securities [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Municipals [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 37,780 | 37,855 |
Municipals [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Municipals [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 37,780 | 37,855 |
Municipals [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Corporates [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 14,500 | 16,076 |
Corporates [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
Corporates [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | 14,500 | 16,076 |
Corporates [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Securities available-for-sale, at fair value | ||
IRLCs - Asset [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
IRLCs - asset | ||
IRLCs - Asset [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
IRLCs - asset | ||
IRLCs - Asset [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
IRLCs - asset | $ 50 | $ 91 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Assets Measured At Fair Value Level ) (Details) $ in Thousands | Sep. 30, 2023 USD ($) item | Dec. 31, 2022 USD ($) item |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | $ 182,027 | $ 185,878 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | 50 | 91 |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | $ 50 | $ 91 |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Minimum [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Range (Weighted Average) | item | 0.70 | 0.70 |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Maximum [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Range (Weighted Average) | item | 1 | 1 |
IRLCs - Asset [Member] | Fair Value, Recurring [Member] | Weighted Average [Member] | Valuation, Market Approach [Member] | Significant Unobservable Inputs (Level 3) [Member] | Measurement Input, Range Of Pull Through Rate [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Range (Weighted Average) | item | 0.85 | 0.85 |
Fair Value Measurements (Impair
Fair Value Measurements (Impaired Loans And Other Real Estate Owned Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Other real estate owned | $ 0 | $ 566,000 | $ 761,000 |
Fair Value, Nonrecurring [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impaired loans | 854,000 | ||
Other real estate owned | 566,000 | ||
Significant Unobservable Inputs (Level 3) [Member] | Fair Value, Nonrecurring [Member] | |||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | |||
Impaired loans | 854,000 | ||
Other real estate owned | $ 566,000 |
Fair Value Measurements (Inform
Fair Value Measurements (Information Regarding Quantitative Inputs Used To Value Assets Classified As Level 3 - Nonrecurring) (Details) $ in Thousands | Sep. 30, 2023 USD ($) | Dec. 31, 2022 USD ($) item |
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | $ 182,027 | $ 185,878 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | $ 50 | 91 |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | $ 854 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Minimum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 0 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Minimum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 0 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Maximum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 0.10 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Maximum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 0.20 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Weighted Average [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 0.08 | |
Fair Value, Nonrecurring [Member] | Impaired Loans [Member] | Weighted Average [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Impaired loans | 0.06 | |
Fair Value, Nonrecurring [Member] | OREO [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Assets, Fair Value | $ | $ 566 | |
Fair Value, Nonrecurring [Member] | OREO [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Selling Cost [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
OREO | 0.10 | |
Fair Value, Nonrecurring [Member] | OREO [Member] | Minimum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
OREO | 0 | |
Fair Value, Nonrecurring [Member] | OREO [Member] | Maximum [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
OREO | 0.27 | |
Fair Value, Nonrecurring [Member] | OREO [Member] | Weighted Average [Member] | Discounted Appraised Value [Member] | Significant Unobservable Inputs (Level 3) [Member] | Discount For Lack Of Marketability And Age Of Appraisal [Member] | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
OREO | 0.26 |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Carrying And Notional Amounts) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | $ 20,105 | $ 30,025 |
Federal funds sold | 79,424 | 31,737 |
Available-for-sale Securities, Debt Securities | 181,977 | 185,787 |
Held-to-maturity | 3,626 | 3,639 |
Restricted stock | 1,541 | 1,387 |
Loans held for sale | 3,325 | 2,423 |
Interest receivable | 2,707 | 2,736 |
BOLI | 21,443 | 19,237 |
Derivatives | 50 | 91 |
Other borrowings | 10,030 | 10,457 |
Interest payable | 381 | 89 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 20,105 | 30,025 |
Federal funds sold | 79,424 | 31,737 |
Available-for-sale Securities, Debt Securities | ||
Held-to-maturity | ||
Restricted stock | ||
Loans, net | ||
Loans held for sale | ||
Interest receivable | ||
BOLI | ||
Derivatives | ||
Deposits | ||
Capital notes | ||
Other borrowings | ||
Interest payable | ||
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | ||
Federal funds sold | ||
Available-for-sale Securities, Debt Securities | 181,977 | 185,787 |
Held-to-maturity | 3,028 | 3,135 |
Restricted stock | 1,541 | 1,387 |
Loans, net | ||
Loans held for sale | 3,325 | 2,423 |
Interest receivable | 2,707 | 2,736 |
BOLI | 21,443 | 19,237 |
Derivatives | ||
Deposits | 876,005 | 850,102 |
Capital notes | 9,411 | 9,200 |
Other borrowings | 9,532 | 9,438 |
Interest payable | 381 | 89 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | ||
Federal funds sold | ||
Available-for-sale Securities, Debt Securities | ||
Held-to-maturity | ||
Restricted stock | ||
Loans, net | 561,420 | 564,802 |
Loans held for sale | ||
Interest receivable | ||
BOLI | ||
Derivatives | 50 | 91 |
Deposits | ||
Capital notes | ||
Other borrowings | ||
Interest payable | ||
Carrying Amounts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 20,105 | 30,025 |
Federal funds sold | 79,424 | 31,737 |
Available-for-sale Securities, Debt Securities | 181,977 | 185,787 |
Held-to-maturity | 3,626 | 3,639 |
Restricted stock | 1,541 | 1,387 |
Loans, net | 599,585 | 605,366 |
Loans held for sale | 3,325 | 2,423 |
Interest receivable | 2,707 | 2,736 |
BOLI | 21,443 | 19,237 |
Deposits | 880,203 | 848,138 |
Capital notes | 10,041 | 10,037 |
Other borrowings | 10,030 | 10,457 |
Interest payable | 381 | 89 |
Fair Values [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and due from banks | 20,105 | 30,025 |
Federal funds sold | 79,424 | 31,737 |
Available-for-sale Securities, Debt Securities | 181,977 | 185,787 |
Held-to-maturity | 3,028 | 3,135 |
Restricted stock | 1,541 | 1,387 |
Loans, net | 561,420 | 564,802 |
Loans held for sale | 3,325 | 2,423 |
Interest receivable | 2,707 | 2,736 |
BOLI | 21,443 | 19,237 |
Deposits | 876,005 | 850,102 |
Capital notes | 9,411 | 9,200 |
Other borrowings | 9,532 | 9,438 |
Interest payable | 381 | 89 |
IRLCs - Asset [Member] | Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivatives | ||
IRLCs - Asset [Member] | Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivatives | ||
IRLCs - Asset [Member] | Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivatives | 50 | 91 |
IRLCs - Asset [Member] | Carrying Amounts [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivatives | 50 | 91 |
IRLCs - Asset [Member] | Fair Values [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Derivatives | $ 50 | $ 91 |
Securities (Narrative) (Details
Securities (Narrative) (Details) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 USD ($) security | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) security | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Marketable Securities [Line Items] | |||||
Number of securities past due or on nonaccrual | 0 | ||||
Securities evaluated for other than temporary impairment | 121 | 121 | |||
Proceeds from sale of securities available-for-sale | $ | $ 0 | $ 0 | $ 0 | $ 0 | |
Available for sale securities in an unrealized loss position for credit related impairment | $ | 0 | ||||
Debt securities, available-for-sale, allowance for credit Loss | $ | 0 | 0 | |||
Allowance for credit losses on held-to-maturity securities | $ | $ 0 | $ 0 | $ 0 | ||
Publicly Traded Domestic Corporations [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 8 | 8 | |||
U.S. Agency Obligations [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 60 | 60 | |||
Municipals [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 53 | 53 | |||
Non-rated [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 1 | 1 | |||
S&P Rated AAA [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 51 | 51 | |||
S&P Rated AA [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 63 | 63 | |||
S&P Rated A [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 5 | 5 | |||
S&P Rated BBB [Member] | |||||
Marketable Securities [Line Items] | |||||
Securities evaluated for other than temporary impairment | 1 | 1 |
Securities (Summary Of Securiti
Securities (Summary Of Securities Held-To-Maturity And Securities Available-For-Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Marketable Securities [Line Items] | ||
Total securities Held-to-maturity, Amortized Costs | $ 3,626 | $ 3,639 |
Held-to-Maturity, Fair Value | 3,028 | 3,135 |
Total securities Available-for-sale, Amortized Cost | 219,671 | 219,688 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | (37,694) | (33,901) |
Available-for-sale, Fair Value | 181,977 | 185,787 |
U.S. Treasuries [Member] | ||
Marketable Securities [Line Items] | ||
Total securities Available-for-sale, Amortized Cost | 4,967 | 4,912 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | (83) | (171) |
Available-for-sale, Fair Value | 4,884 | 4,741 |
U.S. Agency Obligations [Member] | ||
Marketable Securities [Line Items] | ||
Total securities Held-to-maturity, Amortized Costs | 3,626 | 3,639 |
Held-to-maturity, Gross Unrealized Gains | ||
Held-to-maturity, Gross Unrealized Losses | (598) | (504) |
Held-to-Maturity, Fair Value | 3,028 | 3,135 |
Total securities Available-for-sale, Amortized Cost | 69,591 | 68,833 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | (10,063) | (9,560) |
Available-for-sale, Fair Value | 59,528 | 59,273 |
Mortgage-Backed Securities [Member] | ||
Marketable Securities [Line Items] | ||
Total securities Available-for-sale, Amortized Cost | 78,702 | 78,955 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | (13,417) | (11,113) |
Available-for-sale, Fair Value | 65,285 | 67,842 |
Municipals [Member] | ||
Marketable Securities [Line Items] | ||
Total securities Available-for-sale, Amortized Cost | 50,884 | 49,951 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | (13,104) | (12,096) |
Available-for-sale, Fair Value | 37,780 | 37,855 |
Corporates [Member] | ||
Marketable Securities [Line Items] | ||
Total securities Available-for-sale, Amortized Cost | 15,527 | 17,037 |
Available-for-Sale, Gross Unrealized Gains | ||
Available-for-Sale, Gross Unrealized Losses | (1,027) | (961) |
Available-for-sale, Fair Value | $ 14,500 | $ 16,076 |
Securities (Gross Unrealized Lo
Securities (Gross Unrealized Losses And Fair Value Of The Bank’s Investments) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Marketable Securities [Line Items] | ||
Fair Value, Less than 12 months | $ 7,788 | $ 95,023 |
Fair Value, More than 12 months | 166,189 | 85,899 |
Fair Value, Total | 173,977 | 180,922 |
Unrealized Losses, Less than 12 months | 304 | 11,883 |
Unrealized Losses, More than 12 months | 37,390 | 22,522 |
Unrealized Losses, Total | 37,694 | 34,405 |
U.S. Treasuries [Member] | ||
Marketable Securities [Line Items] | ||
Fair Value, Less than 12 months | 4,741 | |
Fair Value, More than 12 months | 4,884 | |
Fair Value, Total | 4,884 | 4,741 |
Unrealized Losses, Less than 12 months | 171 | |
Unrealized Losses, More than 12 months | 83 | |
Unrealized Losses, Total | 83 | 171 |
U.S. Agency Obligations [Member] | ||
Marketable Securities [Line Items] | ||
Fair Value, Less than 12 months, Held-to-maturity | 3,135 | |
Unrealized Losses, Less than 12 months, Held-to-maturity | 504 | |
Fair Value, Total, Held-to-maturity | 3,135 | |
Unrealized Losses, Total, Held-to-maturity | 504 | |
Fair Value, Less than 12 months | 996 | 27,708 |
Fair Value, More than 12 months | 58,532 | 31,565 |
Fair Value, Total | 59,528 | 59,273 |
Unrealized Losses, Less than 12 months | 1 | 2,838 |
Unrealized Losses, More than 12 months | 10,062 | 6,722 |
Unrealized Losses, Total | 10,063 | 9,560 |
Mortgage-Backed Securities [Member] | ||
Marketable Securities [Line Items] | ||
Fair Value, Less than 12 months | 5,154 | 42,024 |
Fair Value, More than 12 months | 60,131 | 25,818 |
Fair Value, Total | 65,285 | 67,842 |
Unrealized Losses, Less than 12 months | 120 | 5,656 |
Unrealized Losses, More than 12 months | 13,297 | 5,457 |
Unrealized Losses, Total | 13,417 | 11,113 |
Municipals [Member] | ||
Marketable Securities [Line Items] | ||
Fair Value, Less than 12 months | 1,638 | 10,847 |
Fair Value, More than 12 months | 36,142 | 27,008 |
Fair Value, Total | 37,780 | 37,855 |
Unrealized Losses, Less than 12 months | 183 | 2,245 |
Unrealized Losses, More than 12 months | 12,921 | 9,851 |
Unrealized Losses, Total | 13,104 | 12,096 |
Corporates [Member] | ||
Marketable Securities [Line Items] | ||
Fair Value, Less than 12 months | 6,568 | |
Fair Value, More than 12 months | 6,500 | 1,508 |
Fair Value, Total | 6,500 | 8,076 |
Unrealized Losses, Less than 12 months | 469 | |
Unrealized Losses, More than 12 months | 1,027 | 492 |
Unrealized Losses, Total | $ 1,027 | $ 961 |
Securities (Contractual Maturit
Securities (Contractual Maturities Of Investment Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities [Abstract] | ||
Held-to-Maturity, Amortized Cost, Due after five years through ten years | $ 2,422 | |
Held-to-Maturity, Amortized Cost, Due after ten years | 1,204 | |
Securities Held-to-maturity | 3,626 | $ 3,639 |
Held-to-Maturity, Fair Values, Due after five years through ten years | 2,079 | |
Held-to-Maturity, Fair Values, Due after ten years | 949 | |
Securities held-to-maturity | 3,028 | 3,135 |
Available-for-Sale, Amortized Cost, Due in one year or less | 5,963 | |
Available-for-Sale, Amortized Cost, Due after one year through five years | 43,680 | |
Available-for-Sale, Amortized Cost, Due after five years through ten years | 66,288 | |
Available-for-Sale, Amortized Cost, Due after ten years | 103,740 | |
Total securities Available-for-sale, Amortized Cost | 219,671 | 219,688 |
Available-for-Sale, Fair Values, Due in one year or less | 5,879 | |
Available-for-Sale, Fair Values, Due after one year through five years | 39,461 | |
Available-for-Sale, Fair Values, Due after five years through ten years | 56,046 | |
Available-for-Sale, Fair Values, Due after ten years | 80,591 | |
Available-for-Sale, Fair Values | $ 181,977 | $ 185,787 |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2023 segment | |
Business Segments [Abstract] | |
Number of reportable segments | 3 |
Business Segments (Schedule Of
Business Segments (Schedule Of Segment Reporting Information, By Segment) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |||||||||
Net interest income | $ 7,364,000 | $ 7,900,000 | $ 22,351,000 | $ 21,414,000 | |||||
Recovery of loan/credit losses | (164,000) | (300,000) | (278,000) | (900,000) | |||||
Net interest income after recovery of credit losses | 7,528,000 | 8,200,000 | 22,629,000 | 22,314,000 | |||||
Noninterest income | 3,201,000 | 3,854,000 | 9,689,000 | 10,519,000 | |||||
Noninterest expenses | 8,140,000 | 8,879,000 | 24,091,000 | 24,119,000 | |||||
Income before income taxes | 2,589,000 | 3,175,000 | 8,227,000 | 8,714,000 | |||||
Income tax expense (benefit) | 511,000 | 601,000 | 1,631,000 | 1,709,000 | |||||
Net Income | 2,078,000 | $ 2,534,000 | $ 1,984,000 | 2,574,000 | $ 2,292,000 | $ 2,139,000 | 6,596,000 | 7,005,000 | |
Total assets | 960,887,000 | 962,570,000 | 960,887,000 | 962,570,000 | $ 928,571,000 | ||||
Community Banking [Member] | Operating Segments [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | 7,364,000 | 7,900,000 | 22,351,000 | 21,414,000 | |||||
Recovery of loan/credit losses | (164,000) | (300,000) | (278,000) | (900,000) | |||||
Net interest income after recovery of credit losses | 7,528,000 | 8,200,000 | 22,629,000 | 22,314,000 | |||||
Noninterest income | 1,162,000 | 1,423,000 | 3,526,000 | 2,909,000 | |||||
Noninterest expenses | 6,661,000 | 7,095,000 | 19,751,000 | 18,596,000 | |||||
Income before income taxes | 2,029,000 | 2,528,000 | 6,404,000 | 6,627,000 | |||||
Income tax expense (benefit) | 393,000 | 505,000 | 1,248,000 | 1,310,000 | |||||
Net Income | 1,636,000 | 2,023,000 | 5,156,000 | 5,317,000 | |||||
Total assets | 945,407,000 | 944,890,000 | 945,407,000 | 944,890,000 | |||||
Mortgage [Member] | Operating Segments [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | |||||||||
Recovery of loan/credit losses | |||||||||
Net interest income after recovery of credit losses | |||||||||
Noninterest income | 989,000 | 1,472,000 | 3,065,000 | 4,675,000 | |||||
Noninterest expenses | 1,073,000 | 1,280,000 | 2,705,000 | 3,889,000 | |||||
Income before income taxes | (84,000) | 192,000 | 360,000 | 786,000 | |||||
Income tax expense (benefit) | (17,000) | 40,000 | 76,000 | 165,000 | |||||
Net Income | (67,000) | 152,000 | 284,000 | 621,000 | |||||
Total assets | 3,781,000 | 4,081,000 | 3,781,000 | 4,081,000 | |||||
Investment Advisory Services [Member] | Operating Segments [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Net interest income | |||||||||
Recovery of loan/credit losses | |||||||||
Net interest income after recovery of credit losses | |||||||||
Noninterest income | 1,050,000 | 959,000 | 3,098,000 | 2,935,000 | |||||
Noninterest expenses | 406,000 | 504,000 | 1,635,000 | 1,634,000 | |||||
Income before income taxes | 644,000 | 455,000 | 1,463,000 | 1,301,000 | |||||
Income tax expense (benefit) | 135,000 | 56,000 | 307,000 | 234,000 | |||||
Net Income | 509,000 | 399,000 | 1,156,000 | 1,067,000 | |||||
Total assets | $ 11,699,000 | $ 13,599,000 | $ 11,699,000 | $ 13,599,000 |
Loans, Allowance For Credit L_3
Loans, Allowance For Credit Losses And OREO (Narrative) (Details) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2023 USD ($) contract item loan | Sep. 30, 2022 contract | Sep. 30, 2023 USD ($) contract loan item | Sep. 30, 2022 contract | Dec. 31, 2022 USD ($) item | Dec. 31, 2021 USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Other real estate owned | $ 0 | $ 0 | $ 566,000 | $ 761,000 | ||
Other real estate writedown | $ 26,000 | |||||
Loan modifications that would have been classified as TDRs | contract | 0 | 0 | 0 | 0 | ||
Loan modifications classified as TDRs | contract | 0 | 0 | ||||
Consumer mortgage loan secured by residential real estate | $ 0 | $ 0 | 0 | |||
Number of loans modified | loan | 1 | 1 | ||||
Financing Receivable, Allowance for Credit Losses | $ 7,320,000 | $ 7,320,000 | $ 6,259,000 | 6,915,000 | ||
Proceeds from Sale of Other Real Estate | $ 540,000 | |||||
Residential [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Number of real estate properties sold | item | 2 | 2 | ||||
Number of real estate properties held | item | 0 | 0 | 0 | |||
Financing Receivable, Allowance for Credit Losses | $ 1,739,000 | $ 1,739,000 | $ 1,351,000 | $ 947,000 | ||
Unfunded Loan Commitment [Member] | ||||||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||||||
Financing Receivable, Allowance for Credit Losses | $ 690,000 | $ 690,000 |
Loans, Allowance For Credit L_4
Loans, Allowance For Credit Losses And OREO (Summary Of Loans, Net) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Dec. 31, 2021 |
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 606,905 | $ 611,625 | |
Financing Receivable, Allowance for Credit Losses | 7,320 | 6,259 | $ 6,915 |
Loans, net | 599,585 | 605,366 | |
Net deferred costs | 982 | 1,114 | |
Commercial [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 65,827 | 95,885 | |
Financing Receivable, Allowance for Credit Losses | 512 | 1,102 | 1,471 |
Commercial Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 329,464 | 354,025 | |
Financing Receivable, Allowance for Credit Losses | 3,963 | 2,902 | 3,637 |
Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 77,931 | 97,959 | |
Financing Receivable, Allowance for Credit Losses | 1,106 | 904 | 860 |
Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 133,683 | 63,756 | |
Financing Receivable, Allowance for Credit Losses | 1,739 | 1,351 | $ 947 |
Commercial Mortgages-Owner Occupied [Member] | Commercial Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 128,646 | 135,189 | |
Commercial Mortgages-Non-Owner Occupied [Member] | Commercial Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 177,073 | 206,701 | |
Commercial Construction/Land [Member] | Commercial Real Estate [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 23,745 | 12,135 | |
Consumer Open-End [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 52,023 | ||
Consumer Closed-End [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 25,908 | ||
Consumer Unsecured [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 2,828 | ||
Consumer Secured [Member] | Consumer [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 95,131 | ||
Residential Mortgages [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | 103,273 | 43,049 | |
Residential Consumer Construction/Land [Member] | Residential [Member] | |||
Loans and Leases Receivable Disclosure [Line Items] | |||
Total loans | $ 30,410 | $ 20,707 |
Loans, Allowance For Credit L_5
Loans, Allowance For Credit Losses And OREO (Amortized Cost Basis of Collateral Dependent Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | $ 606,905 | $ 611,625 |
Business/Other Assets [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 394 | |
Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 5,157 | |
Commercial [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 65,827 | 95,885 |
Commercial [Member] | Business/Other Assets [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 394 | |
Commercial [Member] | Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 329,464 | 354,025 |
Commercial Real Estate [Member] | Business/Other Assets [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 3,736 | |
Consumer [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 77,931 | 97,959 |
Consumer [Member] | Business/Other Assets [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | ||
Consumer [Member] | Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 307 | |
Residential [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | 133,683 | $ 63,756 |
Residential [Member] | Business/Other Assets [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | ||
Residential [Member] | Real Estate [Member] | ||
Loans and Leases Receivable Disclosure [Line Items] | ||
Total loans | $ 1,114 |
Loans, Allowance For Credit L_6
Loans, Allowance For Credit Losses And OREO (Impaired Loans) (Details) $ in Thousands | 12 Months Ended |
Dec. 31, 2022 USD ($) | |
Financing Receivable, Impaired [Line Items] | |
Totals: Recorded Investment | $ 2,666 |
Totals: Unpaid Principal Balance | 2,784 |
Totals: Related Allowance | |
Totals: Average Recorded Investment | 3,377 |
Totals: Interest Income Recognized | 137 |
Commercial [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | |
With No Related Allowance Recorded: Unpaid Principal Balance | |
With No Related Allowance Recorded: Average Recorded Investment | 9 |
With No Related Allowance Recorded: Interest Income Recognized | |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | |
Totals: Unpaid Principal Balance | |
Totals: Related Allowance | |
Totals: Average Recorded Investment | 9 |
Totals: Interest Income Recognized | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | 554 |
With No Related Allowance Recorded: Unpaid Principal Balance | 581 |
With No Related Allowance Recorded: Average Recorded Investment | 1,573 |
With No Related Allowance Recorded: Interest Income Recognized | 48 |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | 554 |
Totals: Unpaid Principal Balance | 581 |
Totals: Related Allowance | |
Totals: Average Recorded Investment | 1,573 |
Totals: Interest Income Recognized | 48 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | 518 |
With No Related Allowance Recorded: Unpaid Principal Balance | 526 |
With No Related Allowance Recorded: Average Recorded Investment | 310 |
With No Related Allowance Recorded: Interest Income Recognized | 23 |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | 518 |
Totals: Unpaid Principal Balance | 526 |
Totals: Related Allowance | |
Totals: Average Recorded Investment | 310 |
Totals: Interest Income Recognized | 23 |
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | |
With No Related Allowance Recorded: Unpaid Principal Balance | |
With No Related Allowance Recorded: Average Recorded Investment | |
With No Related Allowance Recorded: Interest Income Recognized | |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | |
Totals: Unpaid Principal Balance | |
Totals: Related Allowance | |
Totals: Average Recorded Investment | |
Totals: Interest Income Recognized | |
Consumer [Member] | Consumer Unsecured [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | |
With No Related Allowance Recorded: Unpaid Principal Balance | |
With No Related Allowance Recorded: Average Recorded Investment | |
With No Related Allowance Recorded: Interest Income Recognized | |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | |
Totals: Unpaid Principal Balance | |
Totals: Related Allowance | |
Totals: Average Recorded Investment | |
Totals: Interest Income Recognized | |
Consumer [Member] | Consumer Secured [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | 249 |
With No Related Allowance Recorded: Unpaid Principal Balance | 249 |
With No Related Allowance Recorded: Average Recorded Investment | 154 |
With No Related Allowance Recorded: Interest Income Recognized | 12 |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | 249 |
Totals: Unpaid Principal Balance | 249 |
Totals: Related Allowance | |
Totals: Average Recorded Investment | 154 |
Totals: Interest Income Recognized | 12 |
Residential [Member] | Residential Mortgages [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | 1,345 |
With No Related Allowance Recorded: Unpaid Principal Balance | 1,428 |
With No Related Allowance Recorded: Average Recorded Investment | 1,331 |
With No Related Allowance Recorded: Interest Income Recognized | 54 |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | 1,345 |
Totals: Unpaid Principal Balance | 1,428 |
Totals: Related Allowance | |
Totals: Average Recorded Investment | 1,331 |
Totals: Interest Income Recognized | 54 |
Residential [Member] | Residential Consumer Construction/Land [Member] | |
Financing Receivable, Impaired [Line Items] | |
With No Related Allowance Recorded: Recorded Investment | |
With No Related Allowance Recorded: Unpaid Principal Balance | |
With No Related Allowance Recorded: Average Recorded Investment | |
With No Related Allowance Recorded: Interest Income Recognized | |
With An Allowance Recorded: Recorded Investment | |
With An Allowance Recorded: Unpaid Principal Balance | |
With An Allowance Recorded: Average Recorded Investment | |
With An Allowance Recorded: Interest Income Recognized | |
Totals: Recorded Investment | |
Totals: Unpaid Principal Balance | |
Totals: Related Allowance | |
Totals: Average Recorded Investment | |
Totals: Interest Income Recognized |
Loans, Allowance For Credit L_7
Loans, Allowance For Credit Losses And OREO (Allowance for Credit Losses and Recorded Investment in Loans) (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | $ 6,259 | $ 6,915 |
Allowance for Credit Losses: Charge-Offs | (196) | (162) |
Allowance for Credit Losses: Recoveries | 200 | 406 |
Allowance for Credit Losses: Provision (Recovery of) | (188) | (900) |
Allowance for Credit Losses: Ending Balance | 7,320 | 6,259 |
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 7,320 | 6,259 |
Allowance for Credit Losses | 7,320 | 6,259 |
Financing Receivables: Ending Balance: Individually evaluated for impairment | 5,551 | 2,666 |
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 601,354 | 608,959 |
Total loans | $ 606,905 | 611,625 |
Accounting Standards Update [Extensible Enumeration] | us-gaap:AccountingStandardsUpdate201613Member | |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | $ 1,245 | |
Allowance for Credit Losses: Ending Balance | 1,245 | |
Allowance for Credit Losses | 1,245 | |
Commercial [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | 1,102 | 1,471 |
Allowance for Credit Losses: Charge-Offs | (137) | |
Allowance for Credit Losses: Recoveries | 50 | 104 |
Allowance for Credit Losses: Provision (Recovery of) | 23 | (473) |
Allowance for Credit Losses: Ending Balance | 512 | 1,102 |
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 512 | 1,102 |
Allowance for Credit Losses | 512 | 1,102 |
Financing Receivables: Ending Balance: Individually evaluated for impairment | 394 | |
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 65,433 | 95,885 |
Total loans | 65,827 | 95,885 |
Commercial [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | (526) | |
Allowance for Credit Losses: Ending Balance | (526) | |
Allowance for Credit Losses | (526) | |
Commercial Real Estate [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | 2,902 | 3,637 |
Allowance for Credit Losses: Charge-Offs | (137) | |
Allowance for Credit Losses: Recoveries | 91 | 212 |
Allowance for Credit Losses: Provision (Recovery of) | (187) | (810) |
Allowance for Credit Losses: Ending Balance | 3,963 | 2,902 |
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 3,963 | 2,902 |
Allowance for Credit Losses | 3,963 | 2,902 |
Financing Receivables: Ending Balance: Individually evaluated for impairment | 3,736 | 1,072 |
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 325,728 | 352,953 |
Total loans | 329,464 | 354,025 |
Commercial Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | 1,157 | |
Allowance for Credit Losses: Ending Balance | 1,157 | |
Allowance for Credit Losses | 1,157 | |
Consumer [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | 904 | 860 |
Allowance for Credit Losses: Charge-Offs | (56) | (25) |
Allowance for Credit Losses: Recoveries | 42 | 18 |
Allowance for Credit Losses: Provision (Recovery of) | (41) | 51 |
Allowance for Credit Losses: Ending Balance | 1,106 | 904 |
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 1,106 | 904 |
Allowance for Credit Losses | 1,106 | 904 |
Financing Receivables: Ending Balance: Individually evaluated for impairment | 307 | 249 |
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 77,624 | 97,710 |
Total loans | 77,931 | 97,959 |
Consumer [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | 257 | |
Allowance for Credit Losses: Ending Balance | 257 | |
Allowance for Credit Losses | 257 | |
Residential [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | 1,351 | 947 |
Allowance for Credit Losses: Charge-Offs | (3) | |
Allowance for Credit Losses: Recoveries | 17 | 72 |
Allowance for Credit Losses: Provision (Recovery of) | 17 | 332 |
Allowance for Credit Losses: Ending Balance | 1,739 | 1,351 |
Allowance for Credit Losses: Ending Balance: Individually evaluated for impairment | ||
Allowance for Credit Losses: Ending Balance: Collectively evaluated for impairment | 1,739 | 1,351 |
Allowance for Credit Losses | 1,739 | 1,351 |
Financing Receivables: Ending Balance: Individually evaluated for impairment | 1,114 | 1,345 |
Financing Receivables: Ending Balance: Collectively evaluated for impairment | 132,569 | 62,411 |
Total loans | 133,683 | 63,756 |
Residential [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Financing Receivable, Allowance for Credit Losses [Line Items] | ||
Allowance for Credit Losses: Beginning Balance | $ 357 | |
Allowance for Credit Losses: Ending Balance | 357 | |
Allowance for Credit Losses | $ 357 |
Loans, Allowance For Credit L_8
Loans, Allowance For Credit Losses And OREO (Amortized Cost Basis by Origination Year) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | $ 57,068 | |
2022 | 133,678 | |
2021 | 119,418 | |
2020 | 41,123 | |
2019 | 36,241 | |
Prior | 140,771 | |
Revolving Loans Amortized Cost Basis | 78,606 | |
Total loans | 606,905 | $ 611,625 |
Revolving Loans Converted to Term | 1,466 | |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 56,974 | |
2022 | 133,552 | |
2021 | 118,779 | |
2020 | 40,823 | |
2019 | 34,683 | |
Prior | 135,356 | |
Revolving Loans Amortized Cost Basis | 78,118 | |
Total loans | 598,285 | 597,877 |
Revolving Loans Converted to Term | 1,286 | |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | 149 | |
2019 | ||
Prior | 2,178 | |
Revolving Loans Amortized Cost Basis | 269 | |
Total loans | 2,596 | 2,666 |
Revolving Loans Converted to Term | ||
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 94 | |
2022 | 126 | |
2021 | 639 | |
2020 | 151 | |
2019 | 1,558 | |
Prior | 3,237 | |
Revolving Loans Amortized Cost Basis | 219 | |
Total loans | 6,024 | 3,195 |
Revolving Loans Converted to Term | 180 | |
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 5,114 | |
2022 | 4,940 | |
2021 | 9,732 | |
2020 | 7,144 | |
2019 | 2,981 | |
Prior | 19,221 | |
Revolving Loans Amortized Cost Basis | 16,695 | |
Total loans | 65,827 | 95,885 |
Revolving Loans Converted to Term | 223 | |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 5,114 | |
2022 | 4,921 | |
2021 | 9,499 | |
2020 | 7,010 | |
2019 | 2,974 | |
Prior | 19,014 | |
Revolving Loans Amortized Cost Basis | 16,426 | |
Total loans | 64,958 | 89,889 |
Revolving Loans Converted to Term | 43 | |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | 134 | |
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | 269 | |
Total loans | 403 | 1,465 |
Revolving Loans Converted to Term | ||
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | 19 | |
2021 | 233 | |
2020 | ||
2019 | 7 | |
Prior | 207 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 466 | 113 |
Revolving Loans Converted to Term | 180 | |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 329,464 | 354,025 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 7,038 | |
2022 | 22,229 | |
2021 | 46,430 | |
2020 | 8,227 | |
2019 | 9,431 | |
Prior | 34,176 | |
Revolving Loans Amortized Cost Basis | 1,115 | |
Total loans | 128,646 | 135,189 |
Revolving Loans Converted to Term | 162 | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 6,944 | |
2022 | 22,122 | |
2021 | 46,430 | |
2020 | 8,181 | |
2019 | 9,141 | |
Prior | 32,094 | |
Revolving Loans Amortized Cost Basis | 1,115 | |
Total loans | 126,027 | 132,686 |
Revolving Loans Converted to Term | 162 | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | 462 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 462 | |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 94 | |
2022 | 107 | |
2021 | ||
2020 | 46 | |
2019 | 290 | |
Prior | 1,620 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 2,157 | 572 |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 11,874 | |
2022 | 52,960 | |
2021 | 35,694 | |
2020 | 10,344 | |
2019 | 5,639 | |
Prior | 54,146 | |
Revolving Loans Amortized Cost Basis | 6,416 | |
Total loans | 177,073 | 206,701 |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 11,874 | |
2022 | 52,960 | |
2021 | 35,694 | |
2020 | 10,344 | |
2019 | 4,466 | |
Prior | 54,146 | |
Revolving Loans Amortized Cost Basis | 6,416 | |
Total loans | 175,900 | 204,810 |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | 1,182 | |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | 1,173 | |
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | 1,173 | 709 |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 553 | |
2022 | 6,290 | |
2021 | 10,341 | |
2020 | 3,096 | |
2019 | 635 | |
Prior | 473 | |
Revolving Loans Amortized Cost Basis | 2,357 | |
Total loans | 23,745 | 12,135 |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 553 | |
2022 | 6,290 | |
2021 | 9,935 | |
2020 | 3,096 | |
2019 | 635 | |
Prior | 473 | |
Revolving Loans Amortized Cost Basis | 2,357 | |
Total loans | 23,339 | 12,126 |
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | ||
Revolving Loans Converted to Term | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | 406 | |
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | 406 | |
Revolving Loans Converted to Term | ||
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 77,931 | 97,959 |
Consumer [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | 52,023 | |
Total loans | 52,023 | |
Revolving Loans Converted to Term | 1,081 | |
Consumer [Member] | Consumer Open-End [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | 51,804 | |
Total loans | 51,804 | |
Revolving Loans Converted to Term | 1,081 | |
Consumer [Member] | Consumer Open-End [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | ||
Revolving Loans Converted to Term | ||
Consumer [Member] | Consumer Open-End [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | 219 | |
Total loans | 219 | |
Revolving Loans Converted to Term | ||
Consumer [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 4,128 | |
2022 | 11,680 | |
2021 | 675 | |
2020 | 577 | |
2019 | 8,066 | |
Prior | 782 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 25,908 | |
Revolving Loans Converted to Term | ||
Consumer [Member] | Consumer Closed-End [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 4,128 | |
2022 | 11,680 | |
2021 | 675 | |
2020 | 562 | |
2019 | 8,034 | |
Prior | 665 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 25,744 | |
Revolving Loans Converted to Term | ||
Consumer [Member] | Consumer Closed-End [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | 15 | |
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | 15 | |
Revolving Loans Converted to Term | ||
Consumer [Member] | Consumer Closed-End [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | 32 | |
Prior | 117 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 149 | |
Revolving Loans Converted to Term | ||
Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 133,683 | 63,756 |
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 22,245 | |
2022 | 24,834 | |
2021 | 10,276 | |
2020 | 9,215 | |
2019 | 7,316 | |
Prior | 29,387 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 103,273 | 43,049 |
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Mortgages [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 22,245 | |
2022 | 24,834 | |
2021 | 10,276 | |
2020 | 9,110 | |
2019 | 7,260 | |
Prior | 26,378 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 100,103 | 41,591 |
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Mortgages [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | 1,716 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 1,716 | |
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Mortgages [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | 105 | |
2019 | 56 | |
Prior | 1,293 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 1,454 | 1,458 |
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 6,116 | |
2022 | 10,745 | |
2021 | 6,270 | |
2020 | 2,520 | |
2019 | 2,173 | |
Prior | 2,586 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 30,410 | 20,707 |
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | 6,116 | |
2022 | 10,745 | |
2021 | 6,270 | |
2020 | 2,520 | |
2019 | 2,173 | |
Prior | 2,586 | |
Revolving Loans Amortized Cost Basis | ||
Total loans | 30,410 | 19,178 |
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | ||
Revolving Loans Converted to Term | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
2023 | ||
2022 | ||
2021 | ||
2020 | ||
2019 | ||
Prior | ||
Revolving Loans Amortized Cost Basis | ||
Total loans | ||
Revolving Loans Converted to Term |
Loans, Allowance For Credit L_9
Loans, Allowance For Credit Losses And OREO (Gross Charge-Offs by Origination Year) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | 25 |
2021 | 19 |
2020 | 17 |
2019 | |
Prior | 129 |
Revolving Loans Amortized Cost Basis | 6 |
Total | 196 |
Revolving Loans Converted to Term | |
Commercial [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | |
2021 | |
2020 | 17 |
2019 | |
Prior | 120 |
Revolving Loans Amortized Cost Basis | |
Total | 137 |
Revolving Loans Converted to Term | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | |
2021 | |
2020 | |
2019 | |
Prior | |
Revolving Loans Amortized Cost Basis | |
Total | |
Revolving Loans Converted to Term | |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | |
2021 | |
2020 | |
2019 | |
Prior | |
Revolving Loans Amortized Cost Basis | |
Total | |
Revolving Loans Converted to Term | |
Consumer [Member] | Consumer Open-End [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | |
2021 | |
2020 | |
2019 | |
Prior | 6 |
Revolving Loans Amortized Cost Basis | 6 |
Total | 12 |
Revolving Loans Converted to Term | |
Consumer [Member] | Consumer Closed-End [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | 25 |
2021 | 19 |
2020 | |
2019 | |
Prior | |
Revolving Loans Amortized Cost Basis | |
Total | 44 |
Revolving Loans Converted to Term | |
Residential [Member] | Residential Mortgages [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | |
2021 | |
2020 | |
2019 | |
Prior | 3 |
Revolving Loans Amortized Cost Basis | |
Total | 3 |
Revolving Loans Converted to Term | |
Residential [Member] | Residential Consumer Construction/Land [Member] | |
Financing Receivable, Recorded Investment [Line Items] | |
2023 | |
2022 | |
2021 | |
2020 | |
2019 | |
Prior | |
Revolving Loans Amortized Cost Basis | |
Total | |
Revolving Loans Converted to Term |
Loans, Allowance For Credit _10
Loans, Allowance For Credit Losses And OREO (Credit Quality Information-By Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | $ 606,905 | $ 611,625 |
Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 598,285 | 597,877 |
Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 7,887 | |
Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,596 | 2,666 |
Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 6,024 | 3,195 |
Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Commercial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 65,827 | 95,885 |
Commercial [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 64,958 | 89,889 |
Commercial [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 4,418 | |
Commercial [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 403 | 1,465 |
Commercial [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 466 | 113 |
Commercial [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 329,464 | 354,025 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 128,646 | 135,189 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 126,027 | 132,686 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,931 | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 462 | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,157 | 572 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 177,073 | 206,701 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 175,900 | 204,810 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,182 | |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,173 | 709 |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 23,745 | 12,135 |
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 23,339 | 12,126 |
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 9 | |
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 406 | |
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Consumer [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 77,931 | 97,959 |
Consumer [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,828 | |
Consumer [Member] | Consumer Unsecured [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 2,809 | |
Consumer [Member] | Consumer Unsecured [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Consumer [Member] | Consumer Unsecured [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 19 | |
Consumer [Member] | Consumer Unsecured [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Consumer [Member] | Consumer Unsecured [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Consumer [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 95,131 | |
Consumer [Member] | Consumer Secured [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 94,788 | |
Consumer [Member] | Consumer Secured [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Consumer [Member] | Consumer Secured [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Consumer [Member] | Consumer Secured [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 343 | |
Consumer [Member] | Consumer Secured [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Residential [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 133,683 | 63,756 |
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 103,273 | 43,049 |
Residential [Member] | Residential Mortgages [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 100,103 | 41,591 |
Residential [Member] | Residential Mortgages [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Residential [Member] | Residential Mortgages [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,716 | |
Residential [Member] | Residential Mortgages [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,454 | 1,458 |
Residential [Member] | Residential Mortgages [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 30,410 | 20,707 |
Residential [Member] | Residential Consumer Construction/Land [Member] | Pass [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 30,410 | 19,178 |
Residential [Member] | Residential Consumer Construction/Land [Member] | Monitor [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | 1,529 | |
Residential [Member] | Residential Consumer Construction/Land [Member] | Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | Doubtful [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total loans |
Loans, Allowance For Credit _11
Loans, Allowance For Credit Losses And OREO (Loans On Non-Accrual Status) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | $ 585 | |
With an Allowance | ||
Total | 585 | $ 633 |
Commercial [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | 72 | |
With an Allowance | ||
Total | 72 | |
Commercial [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | 406 | |
With an Allowance | ||
Total | 406 | |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | 107 | |
With an Allowance | ||
Total | 107 | |
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | ||
With an Allowance | ||
Total | 518 | |
Consumer [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | ||
With an Allowance | ||
Total | ||
Consumer [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | ||
With an Allowance | ||
Total | 20 | |
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | ||
With an Allowance | ||
Total | 95 | |
Residential [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
With No Allowance | ||
With an Allowance | ||
Total |
Loans, Allowance For Credit _12
Loans, Allowance For Credit Losses And OREO (Age Analysis Of Past Due Financing Receivables) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | $ 606,905 | $ 611,625 |
Recorded Investment > 90 Days & Accruing | ||
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 1,004 | 323 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 107 | 591 |
Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 108 | |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 1,111 | 1,022 |
Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 605,794 | 610,603 |
Commercial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 65,827 | 95,885 |
Recorded Investment > 90 Days & Accruing | ||
Commercial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 72 | 52 |
Commercial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 194 | |
Commercial [Member] | Greater than 90 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 72 | 246 |
Commercial [Member] | Current [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 65,755 | 95,639 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 329,464 | 354,025 |
Commercial Real Estate [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 128,646 | 135,189 |
Recorded Investment > 90 Days & Accruing | ||
Commercial Real Estate [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 177,073 | 206,701 |
Recorded Investment > 90 Days & Accruing | ||
Commercial Real Estate [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 23,745 | 12,135 |
Recorded Investment > 90 Days & Accruing | ||
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 55 | |
Commercial Real Estate [Member] | 30 to 59 Days Past Due [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 107 | |
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | 60 to 89 Days Past Due [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 397 | |
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Greater than 90 Days Past Due [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Commercial Real Estate [Member] | Total Past Due [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 107 | |
Commercial Real Estate [Member] | Total Past Due [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 55 | |
Commercial Real Estate [Member] | Total Past Due [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 397 | |
Commercial Real Estate [Member] | Current [Member] | Commercial Mortgages-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 128,539 | 135,189 |
Commercial Real Estate [Member] | Current [Member] | Commercial Mortgages-Non-Owner Occupied [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 177,073 | 206,646 |
Commercial Real Estate [Member] | Current [Member] | Commercial Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 23,745 | 11,738 |
Consumer [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 77,931 | 97,959 |
Consumer [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 52,023 | |
Recorded Investment > 90 Days & Accruing | ||
Consumer [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 25,908 | |
Recorded Investment > 90 Days & Accruing | ||
Consumer [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 2,828 | |
Recorded Investment > 90 Days & Accruing | ||
Consumer [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 95,131 | |
Recorded Investment > 90 Days & Accruing | ||
Consumer [Member] | 30 to 59 Days Past Due [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 175 | |
Consumer [Member] | 30 to 59 Days Past Due [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 162 | |
Consumer [Member] | 30 to 59 Days Past Due [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 15 | |
Consumer [Member] | 30 to 59 Days Past Due [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 62 | |
Consumer [Member] | 60 to 89 Days Past Due [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | 60 to 89 Days Past Due [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | 60 to 89 Days Past Due [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | 60 to 89 Days Past Due [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | Greater than 90 Days Past Due [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | Greater than 90 Days Past Due [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | Greater than 90 Days Past Due [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Consumer [Member] | Greater than 90 Days Past Due [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 13 | |
Consumer [Member] | Total Past Due [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 175 | |
Consumer [Member] | Total Past Due [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 162 | |
Consumer [Member] | Total Past Due [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 15 | |
Consumer [Member] | Total Past Due [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 75 | |
Consumer [Member] | Current [Member] | Consumer Open-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 51,848 | |
Consumer [Member] | Current [Member] | Consumer Closed-End [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 25,746 | |
Consumer [Member] | Current [Member] | Consumer Unsecured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 2,813 | |
Consumer [Member] | Current [Member] | Consumer Secured [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 95,056 | |
Residential [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 133,683 | 63,756 |
Residential [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 103,273 | 43,049 |
Recorded Investment > 90 Days & Accruing | ||
Residential [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 30,410 | 20,707 |
Recorded Investment > 90 Days & Accruing | ||
Residential [Member] | 30 to 59 Days Past Due [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 595 | 139 |
Residential [Member] | 30 to 59 Days Past Due [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Residential [Member] | 60 to 89 Days Past Due [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Residential [Member] | 60 to 89 Days Past Due [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Residential [Member] | Greater than 90 Days Past Due [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 95 | |
Residential [Member] | Greater than 90 Days Past Due [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Residential [Member] | Total Past Due [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 595 | 234 |
Residential [Member] | Total Past Due [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | ||
Residential [Member] | Current [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | 102,678 | 42,815 |
Residential [Member] | Current [Member] | Residential Consumer Construction/Land [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total loans | $ 30,410 | $ 20,707 |
Loans, Allowance For Credit _13
Loans, Allowance For Credit Losses And OREO (Allowance for Credit Losses on Unfunded Commitments) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Beginning balance | |
Recovery of credit losses | 89 |
Ending balance | 690 |
Cumulative Effect, Period of Adoption, Adjustment [Member] | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |
Beginning balance | $ 779 |
Loans, Allowance For Credit _14
Loans, Allowance For Credit Losses And OREO (Changes In OREO Balance) (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Loans, Allowance For Credit Losses And OREO [Abstract] | ||
Balance at the beginning of the year | $ 566,000 | $ 761,000 |
Transfers from Loans | ||
Capitalized costs | ||
Valuation adjustments | (23,000) | (195,000) |
Sales proceeds | (540,000) | |
Loss on sales | (3,000) | |
Balance at the end of the year | $ 0 | $ 566,000 |
Acquisitions (Narrative) (Detai
Acquisitions (Narrative) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2023 | |
Business Acquisition [Line Items] | |||
Assets acquisition consideration transferred in goodwill | $ 2,054 | $ 2,054 | |
Pettyyjohn, Wood & White, Inc. [Member] | |||
Business Acquisition [Line Items] | |||
Acquisition of assets under management and advisement | $ 650,000 | ||
Acquisition of assets under consideration payment in cash | 10,500 | ||
Assets acquisition consideration transferred in goodwill | 3,000 | ||
Preliminary fair value of assets acquired | 9,300 | ||
Preliminary fair value of liabilities assumed | 1,800 | ||
Adjustment to goodwill | 818 | ||
Goodwill reduced by increase to deferred income taxes | 1,800 | ||
Goodwill expected to be deductible for income tax | $ 2,100 | ||
Pettyyjohn, Wood & White, Inc. [Member] | Customer Relationships [Member] | |||
Business Acquisition [Line Items] | |||
Assets acquisition consideration transferred in amortizable intangible assets | $ 8,400 | ||
Amortizable period of intangible assets | 15 years |