Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2024 | Aug. 01, 2024 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jun. 30, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q2 | |
Current Fiscal Year End Date | --12-31 | |
Entity Registrant Name | CSB BANCORP INC /OH | |
Trading Symbol | CSBB | |
Entity Central Index Key | 0000880417 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Bankruptcy Proceedings, Reporting Current | true | |
Title of 12(g) Security | Common Shares, $6.25 par value | |
Security Exchange Name | NONE | |
Entity Common Stock, Shares Outstanding | 2,662,459 | |
Entity File Number | 000-21714 | |
Entity Incorporation, State or Country Code | OH | |
Entity Tax Identification Number | 34-1687530 | |
Entity Address, Address Line One | 91 North Clay Street | |
Entity Address, Address Line Two | P.O. Box 232 | |
Entity Address, City or Town | Millersburg | |
Entity Address, State or Province | OH | |
Entity Address, Postal Zip Code | 44654 | |
City Area Code | 330 | |
Local Phone Number | 674-9015 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Consolidated Balance Sheets (Un
Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Cash and cash equivalents | ||
Cash and due from banks | $ 19,873 | $ 24,463 |
Interest-earning deposits with banks | 35,941 | 39,614 |
Federal Funds Sold | 391 | |
Total cash and cash equivalents | 56,205 | 64,077 |
Securities | ||
Available-for-sale, at fair value | 127,279 | 140,080 |
Held-to-maturity fair value of $183,484 in 2024 and $194,730 in 2023 ($0 credit loss allowance) | 216,899 | 226,279 |
Equity securities | 230 | 259 |
Restricted stock, at cost | 1,520 | 1,535 |
Total securities | 345,928 | 368,153 |
Loans held for sale | 228 | |
Loans | 721,916 | 701,404 |
Less allowance for credit losses | 10,587 | 6,607 |
Net loans | 711,329 | 694,797 |
Premises and equipment, net | 13,538 | 13,002 |
Bank-owned life insurance | 25,793 | 25,410 |
Goodwill | 4,728 | 4,728 |
Accrued interest receivable and other assets | 9,566 | 8,522 |
TOTAL ASSETS | 1,167,315 | 1,178,689 |
Deposits | ||
Noninterest-bearing | 277,749 | 301,697 |
Interest-bearing | 746,086 | 725,730 |
Total deposits | 1,023,835 | 1,027,427 |
Short-term borrowings | 27,842 | 35,843 |
Other borrowings | 1,326 | 1,754 |
Allowance for credit losses on off-balance sheet commitments | 477 | 736 |
Accrued interest payable and other liabilities | 3,467 | 4,990 |
Total liabilities | 1,056,947 | 1,070,750 |
SHAREHOLDERS' EQUITY | ||
Common stock, $6.25 par value. Authorized 9,000,000 shares; issued 2,980,602 shares; outstanding 2,663,924 shares in 2024 and 2,669,938 in 2023 | 18,629 | 18,629 |
Additional paid-in capital | 9,815 | 9,815 |
Retained earnings | 99,766 | 97,297 |
Treasury stock at cost: 316,678 shares in 2024 and 310,664 shares in 2023 | (7,757) | (7,532) |
Accumulated other comprehensive loss | (10,085) | (10,270) |
Total shareholders' equity | 110,368 | 107,939 |
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | $ 1,167,315 | $ 1,178,689 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Statement of Financial Position [Abstract] | ||
Held-to-maturity, fair value | $ 183,484,000 | $ 194,730,000 |
Held-to-maturity, credit loss allowance | $ 0 | $ 0 |
Common stock, par value | $ 6.25 | $ 6.25 |
Common stock, authorized shares | 9,000,000 | 9,000,000 |
Common stock, shares issued | 2,980,602 | 2,980,602 |
Common stock, shares outstanding | 2,663,924 | 2,669,938 |
Treasury stock, at cost | 316,678 | 310,664 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
INTEREST AND DIVIDEND INCOME | ||||
Loans, including fees | $ 10,219 | $ 8,711 | $ 20,428 | $ 16,680 |
Taxable securities | 1,817 | 1,945 | 3,707 | 3,957 |
Nontaxable securities | 88 | 102 | 176 | 203 |
Other | 379 | 444 | 748 | 989 |
Total interest and dividend income | 12,503 | 11,202 | 25,059 | 21,829 |
INTEREST EXPENSE | ||||
Deposits | 3,489 | 2,128 | 6,789 | 3,712 |
Short-term borrowings | 81 | 70 | 181 | 136 |
Other borrowings | 8 | 10 | 16 | 22 |
Total interest expense | 3,578 | 2,208 | 6,986 | 3,870 |
NET INTEREST INCOME | 8,925 | 8,994 | 18,073 | 17,959 |
Provision for credit loss expense - loans | 3,697 | 242 | 4,300 | 274 |
Recovery for credit loss expense - off-balance sheet commitments | (808) | (102) | (259) | (165) |
Total provision for credit loss expense | 2,889 | 140 | 4,041 | 109 |
NET INTEREST INCOME AFTER CREDIT LOSS EXPENSE | 6,036 | 8,854 | 14,032 | 17,850 |
NONINTEREST INCOME | ||||
Gain on sale of loans, net | 73 | 56 | 109 | 59 |
Earnings on bank owned life insurance | 194 | 172 | 382 | 341 |
Unrealized (loss) gain on equity securities, net | (23) | 4 | (29) | 13 |
Other income | 230 | 224 | 446 | 423 |
Total noninterest income | 1,741 | 1,733 | 3,513 | 3,361 |
NONINTEREST EXPENSES | ||||
Salaries and employee benefits | 3,056 | 3,389 | 6,525 | 6,683 |
Occupancy expense | 294 | 284 | 577 | 566 |
Equipment expense | 201 | 189 | 425 | 396 |
Professional and director fees | 437 | 386 | 769 | 707 |
Financial institutions tax | 216 | 192 | 432 | 384 |
Marketing and public relations | 142 | 136 | 270 | 259 |
Software expense | 414 | 421 | 842 | 820 |
Debit card expense | 193 | 169 | 382 | 315 |
FDIC insurance expense | 129 | 178 | 264 | 249 |
Other expenses | 732 | 705 | 1,470 | 1,389 |
Total noninterest expenses | 5,814 | 6,049 | 11,956 | 11,768 |
Income before income taxes | 1,963 | 4,538 | 5,589 | 9,443 |
FEDERAL INCOME TAX PROVISION | 348 | 894 | 1,041 | 1,865 |
NET INCOME | $ 1,615 | $ 3,644 | $ 4,548 | $ 7,578 |
Basic net earnings per share | $ 0.61 | $ 1.36 | $ 1.71 | $ 2.82 |
Diluted net earnings per share | $ 0.61 | $ 1.36 | $ 1.71 | $ 2.82 |
Deposit Account [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | $ 291 | $ 300 | $ 571 | $ 592 |
Fiduciary and Trust [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | 283 | 252 | 677 | 510 |
Debit Card [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | 528 | 533 | 1,035 | 1,054 |
Credit Card [Member] | ||||
NONINTEREST INCOME | ||||
Noninterest income | $ 165 | $ 192 | $ 322 | $ 369 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 1,615 | $ 3,644 | $ 4,548 | $ 7,578 |
Other comprehensive income (loss) | ||||
Unrealized gain (loss) arising during the period | 291 | (1,923) | 147 | (596) |
Amortization of discount on securities transferred to held-to-maturity | 46 | 48 | 87 | 94 |
Income tax effect | (71) | 394 | (49) | 105 |
Other comprehensive income (loss) | 266 | (1,481) | 185 | (397) |
Total comprehensive income | $ 1,881 | $ 2,163 | $ 4,733 | $ 7,181 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Cumulative Effect of Adoption [Memnber] | Common Stock [Member] | Additional Paid-In Capital [Member] | Retained Earnings [Member] | Retained Earnings [Member] Cumulative Effect of Adoption [Memnber] | Treasury Stock [Member] | Accumulated Other Comprehensive Loss [Member] |
Balance at beginning of period at Dec. 31, 2022 | $ 95,920 | $ 52 | $ 18,629 | $ 9,815 | $ 86,502 | $ 52 | $ (6,107) | $ (12,919) |
Accounting Standards Update [Extensible Enumeration] | us-gaap:AccountingStandardsUpdate201613Member | |||||||
Net income | $ 7,578 | 7,578 | ||||||
Other comprehensive income (loss) | (397) | (397) | ||||||
Purchase of treasury shares | (1,030) | (1,030) | ||||||
Cash dividends declared | (1,983) | (1,983) | ||||||
Balance at end of period at Jun. 30, 2023 | 100,140 | 18,629 | 9,815 | 92,149 | (7,137) | (13,316) | ||
Balance at beginning of period at Mar. 31, 2023 | 99,007 | 18,629 | 9,815 | 89,524 | (7,126) | (11,835) | ||
Net income | 3,644 | 3,644 | ||||||
Other comprehensive income (loss) | (1,481) | (1,481) | ||||||
Purchase of treasury shares | (11) | (11) | ||||||
Cash dividends declared | (1,019) | (1,019) | ||||||
Balance at end of period at Jun. 30, 2023 | 100,140 | 18,629 | 9,815 | 92,149 | (7,137) | (13,316) | ||
Balance at beginning of period at Dec. 31, 2023 | 107,939 | 18,629 | 9,815 | 97,297 | (7,532) | (10,270) | ||
Net income | 4,548 | 4,548 | ||||||
Other comprehensive income (loss) | 185 | 185 | ||||||
Purchase of treasury shares | (225) | (225) | ||||||
Cash dividends declared | (2,079) | (2,079) | ||||||
Balance at end of period at Jun. 30, 2024 | 110,368 | 18,629 | 9,815 | 99,766 | (7,757) | (10,085) | ||
Balance at beginning of period at Mar. 31, 2024 | 109,555 | 18,629 | 9,815 | 99,191 | (7,729) | (10,351) | ||
Net income | 1,615 | 1,615 | ||||||
Other comprehensive income (loss) | 266 | 266 | ||||||
Purchase of treasury shares | (28) | (28) | ||||||
Cash dividends declared | (1,040) | (1,040) | ||||||
Balance at end of period at Jun. 30, 2024 | $ 110,368 | $ 18,629 | $ 9,815 | $ 99,766 | $ (7,757) | $ (10,085) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Stockholders' Equity [Abstract] | ||||
Purchase of treasury shares, shares | 759 | 300 | 6,014 | 27,251 |
Cash dividends declared per share | $ 0.39 | $ 0.38 | $ 0.78 | $ 0.74 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2024 | Jun. 30, 2023 | |
Statement of Cash Flows [Abstract] | ||
NET CASH FROM OPERATING ACTIVITIES | $ 5,989 | $ 6,194 |
Securities: | ||
Proceeds from repayments, available-for-sale | 12,720 | 4,350 |
Proceeds from repayments, held-to-maturity | 9,318 | 9,118 |
Purchases, available-for-sale | (492) | |
Redemption of FHLB stock | 15 | 1,823 |
Loan originations, net | (20,560) | (37,565) |
Property, equipment, and software acquisitions | (1,029) | (234) |
Net cash provided by (used in) investing activities | 464 | (23,000) |
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net decrease in deposits | (3,592) | (1,746) |
Net decrease in short-term borrowings | (8,001) | (4,030) |
Repayment of other borrowings | (428) | (599) |
Cash dividends paid | (2,079) | (1,983) |
Purchase of treasury shares | (225) | (1,030) |
Net cash used in financing activities | (14,325) | (9,388) |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (7,872) | (26,194) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 64,077 | 86,420 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 56,205 | 60,226 |
Cash paid during the year for: | ||
Interest | 6,927 | 3,778 |
Income taxes | $ 1,950 | $ 2,650 |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | N OTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accompanying condensed consolidated financial statements include the accounts of CSB Bancorp, Inc. and its wholly-owned subsidiaries, The Commercial and Savings Bank (the “Bank”) and CSB Investment Services, LLC (together referred to as the “Company” or “CSB”). All significant intercompany transactions and balances have been eliminated in consolidation. The condensed consolidated financial statements have been prepared without audit. In the opinion of management, all adjustments (which include normal recurring adjustments) necessary to present fairly the Company’s financial position at June 30, 2024, and the results of operations and changes in cash flows for the periods presented have been made. Certain information and footnote disclosures typically included in financial statements prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) have been omitted. The Annual Report for CSB for the year ended December 31, 2023, contains Consolidated Financial Statements and related footnote disclosures, which should be read in conjunction with the accompanying condensed Consolidated Financial Statements. The results of operations for the period ended June 30, 2024 are not necessarily indicative of the operating results for the full year or any future interim period. Certain items in the prior-year financial statements were reclassified to conform to the current-year presentation. Such reclassifications had no effect on net income or shareholders’ equity. USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS In preparing the Consolidated Financial Statements, in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for credit losses and the fair value of financial instruments. RECENTLY ISSUED ACCOUNTING PRONOUNCMENTS In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic740): Improvements to Income Tax Disclosure . This new guidance is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This Update also includes certain other amendments to improve the effectiveness of income tax disclosures. It is effective for public business entities for annual periods beginning after December 15, 2024. This update is not expected to have a significant impact on the Company's financial statements. |
Securities
Securities | 6 Months Ended |
Jun. 30, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Securities | Note 2 – SECURITIES Securities consist of the following on June 30, 2024 and December 31, 2023: (Dollars in thousands) Amortized Gross Gross Allowance for Credit Losses Fair June 30, 2024 Available-for-sale U.S. Treasury securities $ 11,065 $ — $ ( 253 ) $ — $ 10,812 U.S. Government agencies 13,999 — ( 655 ) — 13,344 Mortgage-backed securities of government agencies 66,544 14 ( 7,731 ) — 58,827 Asset-backed securities of government agencies 473 — ( 4 ) — 469 State and political subdivisions 17,429 — ( 1,017 ) — 16,412 Corporate bonds 29,090 4 ( 1,679 ) — 27,415 Total available-for-sale 138,600 18 ( 11,339 ) — 127,279 Held-to-maturity U.S. Treasury securities $ 10,329 $ — $ ( 784 ) — $ 9,545 Mortgage-backed securities of government agencies 204,036 — ( 32,372 ) — 171,664 State and political subdivisions 2,534 — ( 259 ) — 2,275 Total held-to-maturity 216,899 — ( 33,415 ) — 183,484 Equity securities 185 45 — — 230 Restricted stock 1,520 — — — 1,520 Total securities $ 357,204 $ 63 $ ( 44,754 ) $ — $ 312,513 December 31, 2023 Available-for-sale U.S. Treasury securities $ 18,110 $ — $ ( 421 ) $ — $ 17,689 U.S. Government agencies 14,000 — ( 848 ) — 13,152 Mortgage-backed securities of government agencies 72,279 98 ( 7,332 ) — 65,045 Asset-backed securities of government agencies 548 — ( 25 ) — 523 State and political subdivisions 17,476 — ( 890 ) — 16,586 Corporate bonds 29,135 6 ( 2,056 ) — 27,085 Total available-for-sale 151,548 104 ( 11,572 ) — 140,080 Held-to-maturity U.S. Treasury securities 10,305 — ( 798 ) — 9,507 Mortgage-backed securities of government agencies 213,425 — ( 30,534 ) — 182,891 State and political subdivisions 2,549 2 ( 219 ) — 2,332 Total held-to-maturity 226,279 2 ( 31,551 ) — 194,730 Equity securities 185 74 — — 259 Restricted stock 1,535 — — — 1,535 Total securities $ 379,547 $ 180 $ ( 43,123 ) $ — $ 336,604 Note 2 – SECURITIES (continued) The amortized cost and fair value of debt securities on June 30, 2024, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized cost Fair value Available-for-sale Due in one year or less $ 25,351 $ 24,823 Due after one through five years 32,105 30,382 Due after five through ten years 18,386 16,737 Due after ten years 62,758 55,337 Total debt securities available-for-sale $ 138,600 $ 127,279 Held-to-maturity Due in one year or less $ 2,499 $ 2,466 Due after one through five years 5,176 4,842 Due after five through ten years 4,879 4,251 Due after ten years 204,345 171,925 Total debt securities held-to-maturity $ 216,899 $ 183,484 Securities with a fair value of approximately $ 147 million and $ 126 million were pledged on June 30, 2024 and December 31, 2023, respectively, to secure public deposits, as well as other deposits and borrowings as required or permitted by law. Restricted stock primarily consists of investments in Federal Home Loan Bank of Cincinnati (FHLB) and Federal Reserve Bank stock. The Bank’s investment in FHLB stock amounted to approximately $ 1.0 million on June 30, 2024 and December 31, 2023 . The FHLB redeemed approximately $ 15 thousand in stock at $ 100 par value per share during the six-month period ended June 30, 2024 . Federal Reserve Bank stock was $ 471 thousand on June 30, 2024 and December 31, 2023. There were no proceeds from sales of securities for the three and six-month period ended June 30, 2024 and 2023. All gains and losses recognized on equity securities during the three and six-month periods were unrealized. Note 2 – SECURITIES (continued) The following table presents gross unrealized losses and fair value of securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, on June 30, 2024 and December 31, 2023: Securities in a continuous unrealized loss position Less than 12 months 12 months or more Total (Dollars in thousands) Gross Fair Gross Fair Gross Fair June 30, 2024 Available-for-sale U.S. Treasury securities $ — $ — $ ( 253 ) $ 10,812 $ ( 253 ) $ 10,812 U.S. Government agencies — — ( 655 ) 13,344 ( 655 ) 13,344 Mortgage-backed securities of government agencies ( 70 ) 5,475 ( 7,661 ) 49,762 ( 7,731 ) 55,237 Asset-backed securities of government agencies — — ( 4 ) 469 ( 4 ) 469 State and political subdivisions ( 2 ) 423 ( 1,015 ) 15,874 ( 1,017 ) 16,297 Corporate bonds — — ( 1,679 ) 26,915 ( 1,679 ) 26,915 Total temporarily impaired available-for-sale securities $ ( 72 ) $ 5,898 $ ( 11,267 ) $ 117,176 $ ( 11,339 ) $ 123,074 December 31, 2023 Available-for-sale U.S. Treasury securities $ — $ — $ ( 421 ) $ 17,689 $ ( 421 ) $ 17,689 U.S. Government agencies — — ( 848 ) 13,152 ( 848 ) 13,152 Mortgage-backed securities of government agencies ( 3 ) 1,909 ( 7,329 ) 52,144 ( 7,332 ) 54,053 Asset-backed securities of government agencies — — ( 25 ) 523 ( 25 ) 523 State and political subdivisions ( 28 ) 1,783 ( 862 ) 14,263 ( 890 ) 16,046 Corporate bonds — — ( 2,056 ) 26,586 ( 2,056 ) 26,586 Total temporarily impaired available-for-sale securities $ ( 31 ) $ 3,692 $ ( 11,541 ) $ 124,357 $ ( 11,572 ) $ 128,049 Note 2 – SECURITIES (continued) There were 121 securities in an unrealized loss position on June 30, 2024 , 117 of which were in a continuous loss position for twelve (12) months or more. Each quarter the Company conducts a comprehensive security-level impairment assessment on the securities portfolio. Management believes the Company will fully recover the cost of these securities. Unrealized losses on the Company’s fixed-rate debt securities are a result of interest rate increases. U.S. Treasury securities and investments in securities of U.S. government sponsored agency bonds comprise $ 83 million of total AFS securities. The remaining $ 44 million of non-agency debt securities is made up of Corporate Bonds and debt securities to State and Political Subdivisions. For non-agency debt securities, the Company verified the current credit ratings remain above investment grade. Non-rated debt securities total $ 10.5 million. Annually, management reviews the credit profile of each non-rated issue and assesses whether any impairment to the contractually obligated cash flow is likely to occur. Based on these reviews, management has concluded the underlying creditworthiness for each security remains sufficient to maintain required payment obligations and, therefore, no allowance for credit losses has been recorded. Management believes the value will recover as the securities approach maturity or market interest rates change. The Bank monitors the credit quality of held-to-maturity debt securities primarily through utilizing their credit rating. The Bank monitors the credit rating on a quarterly basis. There are no nonperforming held-to-maturity securities. As of June 30, 2024 , no ACL was required for any held-to-maturity security. The majority of the securities are explicitly or implicitly guaranteed by the United States government, and any estimate of expected credit losses would be insignificant to the Bank. The following table summarizes the amortized cost of held-to maturity debt securities at June 30, 2024 and December 31, 2023, aggregated by credit quality indicator: (Dollars in thousands) U.S. Treasury securities Mortgage- backed securities of government agencies State and political subdivisions June 30, 2024 Credit rating: AAA / AA / A $ 10,329 $ 204,036 $ 2,534 BBB / BB / B — — — Lower than B — — — Non-rated — — — Total $ 10,329 $ 204,036 $ 2,534 December 31, 2023 Credit rating: AAA / AA / A $ 10,305 $ 213,425 $ 2,549 BBB / BB / B — — — Lower than B — — — Non-rated — — — Total $ 10,305 $ 213,425 $ 2,549 |
Loans
Loans | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Loans | NOTE 3 – LOANS The composition of net loans receivable as of June 30, 2024 and December 31, 2023: (Dollars in thousands) June 30, December 31, 2023 Commercial and industrial $ 143,950 $ 152,125 Commercial real estate 194,637 190,702 Commercial lessors of buildings 96,235 82,687 Construction 55,275 49,214 Consumer mortgage 171,198 166,891 Home equity line of credit 44,331 43,269 Consumer installment 10,646 10,636 Consumer indirect 5,734 5,957 Total loans 722,006 701,481 Allowance for credit losses ( 10,587 ) ( 6,607 ) Deferred loan fees, net ( 90 ) ( 77 ) Net Loans $ 711,329 $ 694,797 Loan Origination/Risk Management The Company has certain lending policies and procedures in place that are designed to maximize loan income within an acceptable level of risk. Management reviews and approves these policies and procedures on a regular basis. A reporting system supplements the review process by providing management with frequent reports related to loan production, loan quality, concentrations of credit, loan delinquencies and non-performing and potential problem loans. Diversification in the loan portfolio is a means of managing risk associated with fluctuations in economic conditions. Commercial loans are underwritten after evaluating and understanding the borrower’s ability to operate profitably and prudently expand its business. Underwriting standards are designed to promote relationship banking rather than transactional banking. The Company’s management examines current and occasionally projected cash flows to determine the ability of the borrower to repay their obligations as agreed. Commercial loans are primarily made based on the identified cash flows of the borrower and secondarily on the underlying collateral provided by the borrower. The cash flows of borrowers; however, may not be as expected and the collateral securing these loans may fluctuate in value. Most commercial loans are secured by the assets being financed or other business assets such as accounts receivable, inventory, and equipment, and may incorporate a personal guarantee; however, some short-term loans may be made on an unsecured basis. In the case of loans secured by accounts receivable, the availability of funds for the repayment of these loans may be substantially dependent on the ability of the borrower to collect amounts due from its customers. NOTE 3 – LOANS (CONTINUED) Commercial real estate loans are subject to underwriting standards and processes similar to commercial loans, in addition to those of real estate loans. These loans are viewed primarily as cash flow loans and secondarily as loans secured by real estate. Commercial real estate lending typically involves higher loan principal amounts, and the repayment of these loans is largely dependent on the successful operation of the property securing the loan or the business conducted on the property securing the loan. Commercial real estate loans may be adversely affected by conditions in the real estate markets or in the general economy. The properties securing the Company’s commercial real estate portfolio are diverse in terms of type. This diversity helps reduce the Company’s exposure to adverse economic events that affect any single industry. Management monitors and evaluates commercial real estate loans based on collateral, geography, and risk grade criteria. In addition, management tracks the level of owner-occupied commercial real estate loans versus non-owner occupied. The top ten collateral exposures in commercial real estate and commercial lessors of buildings at June 30, 2024 are as follows: Industrial, manufacturing and production $ 57 million; warehouses $ 38 million; healthcare $ 27 million; residential investment property $ 24 million; retail strip centers $ 17 million; senior housing $ 17 million; automotive industry $ 15 million; retail buildings $ 14 million; lodging $ 11 million; and office buildings $ 8 million. With respect to loans to developers and builders that are secured by non-owner-occupied properties, the Company generally requires the borrower to have had an existing relationship with the Company and have a proven record of success. Construction and land development loans are underwritten utilizing independent appraisal reviews, sensitivity analysis of absorption and lease rates, and financial analysis of the developers and property owners. Construction and land development loans are generally based upon estimates of costs and value associated with the completed project. These estimates may be inaccurate. Construction and land development loans often involve the disbursement of substantial funds with repayment dependent on the success of the ultimate project. Sources of repayment for these types of loans may be pre-committed permanent loans from approved long-term lenders, sales of developed property, or an interim loan commitment from the Company until permanent financing is obtained. These loans are closely monitored by on-site inspections and are considered to have higher risk than other real estate loans due to their ultimate repayment being sensitive to interest rate changes, governmental regulation of real property, general economic conditions, and the availability of long-term financing. The Company originates consumer loans utilizing a judgmental underwriting process. To monitor and manage consumer loan risk, policies and procedures are developed and modified, as needed. This activity, coupled with relatively small loan amounts that are spread across many individual borrowers, mitigates risk. The Company maintains an independent credit department that reviews and validates the credit risk program on a periodic basis. Results of these reviews are presented to management. The loan review process complements and reinforces the risk identification and assessment decisions made by lenders and credit personnel, as well as the Company’s policies and procedures. Loans serviced for others approximated $ 136 million and $ 132 million on June 30, 2024 and December 31, 2023, respectively. NOTE 3 – LOANS (CONTINUED) Concentrations of Credit Nearly all the Company’s lending activity occurs within the state of Ohio, including the four counties of Holmes, Stark, Tuscarawas and Wayne, as well as other markets. The majority of the Company’s loan portfolio consists of commercial and commercial real estate loans. Credit concentrations, including commitments, as determined using North American Industry Classification Codes (NAICS), to the three largest industries compared to total loans on June 30, 2024 , included $ 75.8 million, or 11 %, of total loans to lessors of non-residential buildings, $ 39.3 million, or 5 %, of total loans to manufacturers of animal food, and $ 30.5 million, or 4 %, of total loans to hotels. These loans are generally secured by real property and equipment, with repayment expected from operational cash flow. Credit evaluation is based on a review of cash flow coverage of principal, interest payments, and the adequacy of the collateral received. Allowance for Credit Losses The following table details activity in the allowance for credit losses ("ACL") by portfolio segment for the three-months ended June 30, 2024 and 2023. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. For the three and six months ended June 30, 2024 , the increase in the provision for commercial and industrial loans and commercial real estate loans primarily relates to one individually evaluated commercial loan relationship which has a collateral shortfall. As of June 30, 2024, this loan relationship has a specific reserve of $ 4.1 million. The remaining provision amounts for the quarter are primarily a result of changes in loan volume and weighted average remaining maturities of the loans in each category. For the three and six month periods in 2023 the increase in the provision for commercial and industrial loans primarily related to the increase in loan volume. The change in provision for commercial lessors of buildings related to the increase in loans graded special mention. The decrease in provision for commercial real estate loans was due to the payoff of one larger loan relationship with a specific allocation. (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions (Recovery) Ending Balance Three Months Ended June 30, 2024 Commercial and industrial $ 2,224 $ ( 257 ) $ 12 $ 3,295 $ 5,274 Commercial real estate 1,612 — 1 420 2,033 Commercial lessors of buildings 1,344 — — ( 16 ) 1,328 Construction 323 — — 3 326 Consumer mortgage 1,068 — 8 ( 15 ) 1,061 Home equity line of credit 284 — — ( 8 ) 276 Consumer installment 74 ( 17 ) 4 13 74 Consumer indirect 207 — 3 5 215 $ 7,136 $ ( 274 ) $ 28 $ 3,697 $ 10,587 Six Months Ended June 30, 2024 Commercial and industrial $ 1,737 $ ( 268 ) $ 19 $ 3,786 $ 5,274 Commercial real estate 1,637 — 1 395 2,033 Commercial lessors of buildings 1,200 — — 128 1,328 Construction 333 — — ( 7 ) 326 Consumer mortgage 1,107 — 9 ( 55 ) 1,061 Home equity line of credit 288 — — ( 12 ) 276 Consumer installment 76 ( 35 ) 7 26 74 Consumer indirect 229 ( 59 ) 6 39 215 $ 6,607 $ ( 362 ) $ 42 $ 4,300 $ 10,587 NOTE 3 – LOANS (CONTINUED) (Dollars in thousands) Beginning Balance Impact of Adopting ASC 326 Charge-offs Recoveries Provisions (Recovery) Ending Balance Three Months Ended June 30, 2023 Commercial and industrial $ 1,821 $ — $ — $ 9 $ 289 $ 2,119 Commercial real estate 2,236 — — — ( 354 ) 1,882 Commercial lessors of buildings 965 — — — 272 1,237 Construction 271 — — — 12 283 Consumer mortgage 693 — — 1 20 714 Home equity line of credit 186 — — — ( 8 ) 178 Consumer installment 47 — ( 15 ) 5 15 52 Consumer indirect 88 — — 10 ( 4 ) 94 Unallocated — — — — — — $ 6,307 $ — $ ( 15 ) $ 25 $ 242 $ 6,559 Six Months Ended June 30, 2023 Commercial and industrial $ 1,110 $ 658 $ — $ 19 $ 332 $ 2,119 Commercial real estate 2,760 ( 541 ) — 1 ( 338 ) 1,882 Commercial lessors of buildings — 974 — — 263 1,237 Construction 803 ( 515 ) — — ( 5 ) 283 Consumer mortgage 1,268 ( 580 ) — 1 25 714 Home equity line of credit — 201 — — ( 23 ) 178 Consumer installment 233 ( 183 ) ( 23 ) 5 20 52 Consumer indirect — 91 ( 31 ) 34 — 94 Unallocated 664 ( 664 ) — — — — $ 6,838 $ ( 559 ) $ ( 54 ) $ 60 $ 274 $ 6,559 NOTE 3 – LOANS (CONTINUED) Age Analysis of Past-Due Loans Receivable and Nonperforming Loans The performance and credit quality of the loan portfolio is also monitored by analyzing the age of the loans receivable as determined by the length of time a recorded payment is past due. The following table presents the classes of the loan portfolio summarized by the past-due status. (Dollars in thousands) Current 30-59 60-89 90 Days + Total Past Due Total June 30, 2024 Commercial and industrial $ 143,869 $ 61 $ 20 $ — $ 81 $ 143,950 Commercial real estate 194,637 — — — — 194,637 Commercial lessors of buildings 96,235 — — — — 96,235 Construction 55,275 — — — — 55,275 Consumer mortgage 169,824 1,286 88 — 1,374 171,198 Home equity line of credit 44,132 93 72 34 199 44,331 Consumer installment 10,620 17 9 — 26 10,646 Consumer indirect 5,682 52 — — 52 5,734 Total Loans $ 720,274 $ 1,509 $ 189 $ 34 $ 1,732 $ 722,006 December 31, 2023 Commercial and industrial $ 151,964 $ 111 $ 50 $ — $ 161 $ 152,125 Commercial real estate 190,702 — — — — 190,702 Commercial lessors of buildings 82,687 — — — — 82,687 Construction 49,214 — — — — 49,214 Consumer mortgage 166,411 307 173 — 480 166,891 Home equity line of credit 42,955 33 281 — 314 43,269 Consumer installment 10,602 25 9 — 34 10,636 Consumer indirect 5,821 52 84 — 136 5,957 Total Loans $ 700,356 $ 528 $ 597 $ — $ 1,125 $ 701,481 NOTE 3 – LOANS (CONTINUED) The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of June 30, 2024 and December 31, 2023: (Dollars in thousands) Nonaccrual with no ACL Nonaccrual with ACL Total Nonaccrual Loans Past Due 90 Days or More Still Accruing Total Nonperforming June 30, 2024 Commercial and industrial $ 39 $ 5,251 $ 5,290 $ — $ 5,290 Commercial real estate — 1,099 1,099 — 1,099 Commercial lessors of buildings 13 — 13 — 13 Construction — — — — — Consumer mortgage 122 — 122 — 122 Home equity line of credit — — — 34 34 Consumer installment 14 — 14 — 14 Consumer indirect 111 — 111 — 111 Total Loans $ 299 $ 6,350 $ 6,649 $ 34 $ 6,683 December 31, 2023 Commercial and industrial $ 59 $ — $ 59 $ — $ 59 Commercial real estate 62 — 62 — 62 Commercial lessors of buildings 15 — 15 — 15 Construction — — — — — Consumer mortgage 172 — 172 — 172 Home equity line of credit — — — — — Consumer installment 49 — 49 — 49 Consumer indirect 39 — 39 — 39 Total Loans $ 396 $ — $ 396 $ — $ 396 Interest income recognized on nonaccrual loans for the six months ended June 30, 2024 was $ 33 thousand. Collateral-Dependent Financial Assets When loan repayment is expected to be provided substantially through the operation or sale of collateral and the borrower is experiencing financial difficulty, expected credit losses are based on the fair value of the collateral. The class of loan represents the primary collateral type associated with the loan. There were no collateral dependent loans as of December 31, 2023. The following table presents the amortized cost basis of collateral dependent loans by class of loan: Type of Collateral (Dollars in thousands) Real Estate Blanket Liens June 30, 2024 Commercial and industrial $ — $ 5,251 Commercial real estate 1,099 — Total collateral dependent loans $ 1,099 $ 5,251 NOTE 3 – LOANS (CONTINUED) Credit Quality Indicators The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes commercial loans individually by classifying the loans as to credit risk. This analysis includes all commercial loans before origination and an annual review of those with an outstanding commitment greater than $ 500 thousand. The Company uses the following definitions for risk ratings: Pass . Loans classified as pass (Cash Secured, Exceptional, Acceptable, Monitor, or Pass Watch) may exhibit a wide array of characteristics but at a minimum represent an acceptable risk to the Bank. Borrowers in this rating may have leveraged but acceptable balance sheet positions, satisfactory asset quality, stable to favorable sales and earnings trends, acceptable liquidity and adequate cash flow. Loans are considered fully collectible and require an average amount of administration. While generally adhering to credit policy, these loans may exhibit occasional exceptions that do not result in undue risk to the Bank. Borrowers are generally capable of absorbing setbacks, financial and otherwise, without the threat of failure. Special Mention . Assets assigned a Special Mention grade are not considered classified assets but are considered criticized. These assets exhibit potential weaknesses that, deserve management’s close attention. If left uncorrected, those potential weaknesses may result in deterioration of the repayment prospects for the asset or in the Bank’s credit position at some future date. Loans in this rating warrant special attention but have not yet reached the point of concern for loss. These assets have deteriorated sufficiently to the point they would have difficulty refinancing elsewhere. Similarly, purchasers of the business would not be eligible for bank financing unless they represent a significantly stronger credit risk. Substandard . Loans classified as substandard are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected. Doubtful . Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently known facts, conditions, and values, highly questionable and improbable. NOTE 3 – LOANS (CONTINUED) Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Based on the most recent analysis performed, the following tables present the recorded investment in non-homogeneous loans by internal risk rating system as of June 30, 2024 and December 31, 2023: Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total June 30, 2024 Commercial and industrial: Pass $ 8,357 $ 30,310 $ 21,888 $ 9,692 $ 4,015 $ 8,008 $ 43,459 $ — $ 125,729 Special mention 63 58 179 156 277 — 2,322 — 3,055 Substandard — 1,486 3,006 938 328 1,056 8,352 — 15,166 Doubtful — — — — — — — — — Total $ 8,420 $ 31,854 $ 25,073 $ 10,786 $ 4,620 $ 9,064 $ 54,133 $ — $ 143,950 YTD gross charge-offs $ — $ 246 $ - $ — $ - $ 22 $ - $ — $ - $ — $ — $ — $ 268 Commercial real estate: Pass $ 6,793 $ 23,687 $ 40,996 $ 49,193 $ 14,045 $ 39,537 $ 822 $ — $ 175,073 Special Mention — 237 1,467 3,041 2,069 510 — — 7,324 Substandard 348 1,099 — — — 10,793 — — 12,240 Doubtful — — — — — — — — — Total $ 7,141 $ 25,023 $ 42,463 $ 52,234 $ 16,114 $ 50,840 $ 822 $ — $ 194,637 YTD gross charge-offs $ — $ — $ - $ — $ - $ — $ - $ — $ - $ — $ — $ — Commercial lessors of buildings: Pass $ 17,262 $ 21,112 $ 22,031 $ 15,655 $ 3,274 $ 14,544 $ 391 $ — $ 94,269 Special Mention — — — 184 — — — — 184 Substandard — — 567 233 969 13 — — 1,782 Doubtful — — — — — — — — — Total $ 17,262 $ 21,112 $ 22,598 $ 16,072 $ 4,243 $ 14,557 $ 391 $ — $ 96,235 YTD gross charge-offs $ — $ — $ - $ — $ - $ — $ - $ — $ - $ — $ — $ — $ — Commercial Construction: Pass $ 4,785 $ 30,418 $ 9,926 $ 760 $ 851 $ 470 $ 1,352 $ — $ 48,562 Special Mention — — — — — — — Substandard — — — — — 76 — — 76 Doubtful — — — — — — — — — Total $ 4,785 $ 30,418 $ 9,926 $ 760 $ 851 $ 546 $ 1,352 $ — $ 48,638 YTD gross charge-offs $ — $ — $ - $ — $ - $ — $ - $ — $ - $ — $ — $ — $ — Total Pass $ 37,197 $ 105,527 $ 94,841 $ 75,300 $ 22,185 $ 62,559 $ 46,024 $ — $ 443,633 Special Mention 63 295 1,646 3,381 2,346 510 2,322 — 10,563 Substandard 348 2,585 3,573 1,171 1,297 11,938 8,352 — 29,264 Doubtful — — — — — — — — — Total $ 37,608 $ 108,407 $ 100,060 $ 79,852 $ 25,828 $ 75,007 $ 56,698 $ — $ 483,460 YTD commercial gross charge-offs $ — $ 246 $ — $ 22 $ — $ — $ — $ — $ 268 NOTE 3 – LOANS (CONTINUED) Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total December 31, 2023 Commercial and industrial: Pass $ 32,037 $ 25,996 $ 12,196 $ 5,207 $ 3,388 $ 7,112 $ 45,423 $ — $ 131,359 Special mention 76 225 522 33 33 65 3,872 — 4,826 Substandard 782 2,968 1,021 1,017 106 1,416 8,630 — 15,940 Doubtful — — — — — — — — — Total $ 32,895 $ 29,189 $ 13,739 $ 6,257 $ 3,527 $ 8,593 $ 57,925 $ — $ 152,125 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: Pass $ 22,206 $ 38,696 $ 54,830 $ 12,233 $ 19,543 $ 21,938 $ 647 $ — $ 170,093 Special Mention 241 1,380 2,292 2,496 — 322 — — 6,731 Substandard 1,150 — 888 — 466 11,374 — — 13,878 Doubtful — — — — — — — — — Total $ 23,597 $ 40,076 $ 58,010 $ 14,729 $ 20,009 $ 33,634 $ 647 $ — $ 190,702 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial lessors of buildings: Pass $ 18,353 $ 22,762 $ 15,455 $ 6,429 $ 3,543 $ 8,934 $ 360 $ — $ 75,836 Special Mention — 436 1,687 — 3,578 — — — 5,701 Substandard — — — 989 — 161 — — 1,150 Doubtful — — — — — — — — — Total $ 18,353 $ 23,198 $ 17,142 $ 7,418 $ 7,121 $ 9,095 $ 360 $ — $ 82,687 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial construction: Pass $ 24,119 $ 14,855 $ 576 $ 272 $ 281 $ 256 $ — $ — $ 40,359 Special Mention — 258 43 635 — — — — 936 Substandard — — — 30 80 — — — 110 Doubtful — — — — — — — — — Total $ 24,119 $ 15,113 $ 619 $ 937 $ 361 $ 256 $ — $ — $ 41,405 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total Pass $ 96,715 $ 102,309 $ 83,057 $ 24,141 $ 26,755 $ 38,240 $ 46,430 $ — $ 417,647 Special Mention 317 2,299 4,544 3,164 3,611 387 3,872 — 18,194 Substandard 1,932 2,968 1,909 2,036 652 12,951 8,630 — 31,078 Doubtful — — — — — — — — — Total $ 98,964 $ 107,576 $ 89,510 $ 29,341 $ 31,018 $ 51,578 $ 58,932 $ — $ 466,919 YTD commercial gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — NOTE 3 – LOANS (CONTINUED) The Company monitors the credit risk profile by payment activity for the loan classes listed below. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. The following table presents the amortized cost in consumer loans based on payment activity as of June 30, 2024 and December 31, 2023: Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total June 30, 2024 Consumer mortgage: Performing $ 8,086 $ 27,855 $ 33,551 $ 34,420 $ 30,606 $ 36,558 $ — $ — $ 171,076 Nonperforming — — — — — 122 — — 122 Total $ 8,086 $ 27,855 $ 33,551 $ 34,420 $ 30,606 $ 36,680 $ — $ — $ 171,198 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer Construction: Performing $ 1,884 $ 3,142 $ 1,076 $ 168 $ 324 $ 43 $ — $ — $ 6,637 Nonperforming — — — — — — — — — Total $ 1,884 $ 3,142 $ 1,076 $ 168 $ 324 $ 43 $ — $ — $ 6,637 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Home equity line of credit: Performing $ — $ — $ — $ — $ — $ — $ 44,257 $ 40 $ 44,297 Nonperforming — — — — — — 34 — 34 Total $ — $ — $ — $ — $ — $ — $ 44,291 $ 40 $ 44,331 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer installment: Performing $ 2,785 $ 4,400 $ 2,216 $ 623 $ 336 $ 205 $ 67 $ — $ 10,632 Nonperforming — 7 — — — 7 — — 14 Total $ 2,785 $ 4,407 $ 2,216 $ 623 $ 336 $ 212 $ 67 $ — $ 10,646 YTD gross charge-offs $ — $ 12 $ 15 $ 2 $ 1 $ 5 $ — $ — $ 35 Consumer indirect: Performing $ 545 $ 715 $ 1,011 $ 537 $ 530 $ 2,285 $ — $ — $ 5,623 Nonperforming — 22 — — — 89 — — 111 Total $ 545 $ 737 $ 1,011 $ 537 $ 530 $ 2,374 $ — $ — $ 5,734 YTD gross charge-offs $ — $ — $ — $ — $ — $ 59 $ — $ — $ 59 Total Performing $ 13,300 $ 36,112 $ 37,854 $ 35,748 $ 31,796 $ 39,091 $ 44,324 $ 40 $ 238,265 Nonperforming — 29 — — — 218 34 — 281 Total $ 13,300 $ 36,141 $ 37,854 $ 35,748 $ 31,796 $ 39,309 $ 44,358 $ 40 $ 238,546 YTD consumer gross charge-offs $ — $ 12 $ 15 $ 2 $ 1 $ 64 $ — $ — $ 94 NOTE 3 – LOANS (CONTINUED) Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total December 31, 2023 Consumer mortgage: Performing $ 24,521 $ 34,798 $ 35,802 $ 32,259 $ 8,931 $ 30,408 $ — $ — $ 166,719 Nonperforming — — — — — 172 — — 172 Total $ 24,521 $ 34,798 $ 35,802 $ 32,259 $ 8,931 $ 30,580 $ — $ — $ 166,891 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer construction: Performing $ 5,463 $ 1,477 $ 264 $ 483 $ 81 $ 41 $ — $ — $ 7,809 Nonperforming — — — — — — — — — Total $ 5,463 $ 1,477 $ 264 $ 483 $ 81 $ 41 $ — $ — $ 7,809 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Home equity line of credit: Performing $ — $ — $ — $ — $ — $ — $ 43,223 $ 46 $ 43,269 Nonperforming — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ 43,223 $ 46 $ 43,269 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer installment: Performing $ 5,705 $ 3,067 $ 981 $ 513 $ 118 $ 184 $ 68 $ — $ 10,636 Nonperforming — — — — — — — — — Total $ 5,705 $ 3,067 $ 981 $ 513 $ 118 $ 184 $ 68 $ — $ 10,636 YTD gross charge-offs $ 2 $ 12 $ 19 $ 5 $ 2 $ 6 $ — $ — $ 46 Consumer indirect: Performing $ 858 $ 1,086 $ 622 $ 568 $ 607 $ 2,128 $ — $ — $ 5,869 Nonperforming — 3 — — 81 4 — — 88 Total $ 858 $ 1,089 $ 622 $ 568 $ 688 $ 2,132 $ — $ — $ 5,957 YTD gross charge-offs $ — $ — $ — $ — $ — $ 66 $ — $ — $ 66 Total Performing $ 36,547 $ 40,428 $ 37,669 $ 33,823 $ 9,737 $ 32,761 $ 43,291 $ 46 $ 234,302 Nonperforming — 3 — — 81 176 — — 260 Total $ 36,547 $ 40,431 $ 37,669 $ 33,823 $ 9,818 $ 32,937 $ 43,291 $ 46 $ 234,562 YTD consumer gross charge-offs $ 2 $ 12 $ 19 $ 5 $ 2 $ 72 $ — $ — $ 112 Consumer mortgages are substantially secured by one to four family owner occupied properties and consumer indirect loans are substantially secured by recreational vehicles. All nonperforming consumer loans are evaluated when placed on nonaccrual status and may be charged down based on the collateral fair value less cost to sell if that value is lower than the outstanding balance. As of June 30, 2024 there were two loans secured by consumer real estate totaling $ 38 thousand in process of foreclosure. Modifications to Borrowers Experiencing Financial Difficulty Occasionally, the Bank modifies loans to borrowers in financial distress by providing – principal forgiveness, term extension, an other-than-insignificant payment delay or interest rate reduction. When principal forgiveness is provided, the amount of forgiveness is charged-off against the allowance for credit losses. In some cases, the Bank may provide multiple types of concessions on one loan. Typically, one type of concession, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another concession, such as principal forgiveness, may be granted. There were no modifications of loans to borrowers in financial distress completed during the six months ended June 30, 2024 and 2023. |
Short-Term Borrowings
Short-Term Borrowings | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
Short-Term Borrowings | NOTE 4 – SHORT-TERM BORROWINGS The following table provides additional detail regarding repurchase agreements and the related collateral accounted for as secured borrowings. Remaining Contractual Maturity June 30, December 31, (Dollars in thousands) 2024 2023 Securities of U.S. Government Agencies and mortgage-backed securities of $ 27,995 $ 36,002 Repurchase agreements 27,842 35,843 |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jun. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 5 – FAIR VALUE MEASUREMENTS The Company provides disclosures about assets and liabilities carried at fair value. The framework provides a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities and lowest priority to unobservable inputs. The three broad levels of the fair value hierarchy are described below: Level I: Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Company has the ability to access. Level II: Inputs to the valuation methodology include quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in inactive markets; inputs other than quoted prices that are observable for the asset or liability; and inputs that are derived principally from or corroborated by observable market data by corroborated or other means. If the asset or liability has a specified (contractual) term, the Level II input must be observable for substantially the full term of the asset or liability. Level III: Inputs to the valuation methodology are unobservable and significant to the fair value measurement. NOTE 5 – FAIR VALUE MEASUREMENTS (CONTINUED) The following table presents the assets reported on the Consolidated Balance Sheets at their fair value on a recurring basis as of June 30, 2024 and December 31, 2023 by level within the fair value hierarchy. No liabilities are carried at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities with readily determinable values and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. Equity securities without readily determinable values are carried at amortized cost adjusted for impairment and observable price changes and are not included in the table below. (Dollars in thousands) Level I Level II Level III Total June 30, 2024 Assets: Securities available-for-sale U.S. Treasury securities $ 10,812 $ — $ — $ 10,812 U.S. Government agencies — 13,344 — 13,344 Mortgage-backed securities of government agencies — 58,827 — 58,827 Asset-backed securities of government agencies — 469 — 469 State and political subdivisions — 16,412 — 16,412 Corporate bonds — 27,415 — 27,415 Total available-for-sale securities $ 10,812 $ 116,467 $ — $ 127,279 Equity securities $ 184 $ — $ — $ 184 December 31, 2023 Assets: Securities available-for-sale U.S. Treasury securities $ 17,689 $ — $ — $ 17,689 U.S. Government agencies — 13,152 — 13,152 Mortgage-backed securities of government agencies — 65,045 — 65,045 Asset-backed securities of government agencies — 523 — 523 State and political subdivisions — 16,586 — 16,586 Corporate bonds — 27,085 — 27,085 Total available-for-sale securities $ 17,689 $ 122,391 $ — $ 140,080 Equity securities $ 213 $ — $ — $ 213 NOTE 5 – FAIR VALUE MEASUREMENTS (CONTINUED) The following methods and assumptions were used by the Company in determining the fair value of assets measured at fair value on a nonrecurring basis as described below: Individually evaluated collateral dependent loans: Loans that are collateral dependent are written down to fair value through the establishment of specific reserves. Techniques used to value the collateral securing these loans include: quoted market prices for identical assets classified as Level I inputs; observable inputs, employed by certified appraisers, for similar assets classified as Level II inputs. In cases where valuation techniques included unobservable inputs and are based on estimates and assumptions developed by management based on the best information available under each circumstance, the asset valuation is classified as Level III inputs. The following table presents the assets measured on a nonrecurring basis on the consolidated balance sheet at their fair value as of June 30, 2024, by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total June 30, 2024 Individually evaluated collateral dependent loans recorded at fair value: Commercial and industrial $ — $ — $ 1,577 $ 1,577 Commercial real estate — — 679 679 Total individually evaluated collateral dependent loans recorded at fair value: $ — $ — $ 2,256 $ 2,256 |
Fair Values of Financial Instru
Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Fair Values of Financial Instruments | NOTE 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS The estimated fair values of recognized financial instruments carried at amortized cost as of June 30, 2024 and December 31, 2023 are as follows: (Dollars in thousands) Carrying Level I Level II Level III Fair Value June 30, 2024 Financial assets Securities held-to-maturity $ 216,899 $ 9,545 $ 173,939 $ — $ 183,484 Net loans 711,329 — — 674,962 674,962 Mortgage servicing rights 597 — — 597 597 Financial liabilities Deposits $ 1,023,835 $ 800,814 $ — $ 224,821 $ 1,025,635 Other borrowings 1,326 — — 1,154 1,154 December 31, 2023 Financial assets Securities held-to-maturity $ 226,279 $ 9,507 $ 185,223 $ — $ 194,730 Net loans 694,797 — — 663,510 663,510 Mortgage servicing rights 600 — — 600 600 Financial liabilities Deposits $ 1,027,427 $ 835,847 $ — $ 193,126 $ 1,028,973 Other borrowings 1,754 — — 1,546 1,546 Other financial instruments carried at amortized cost include cash and cash equivalents, restricted stock, bank-owned life insurance, accrued interest receivable, short-term borrowings, and accrued interest payable, all of which have a Level I fair value that approximates their carrying value. The Company also has unrecognized financial instruments on June 30, 2024 and December 31, 2023 , related to commitments to extend credit and letters of credit. The aggregate contract amount of such financial instruments was approximately $ 292 million on June 30, 2024 and $ 282 million on December 31, 2023. NOTE 6 – FAIR VALUES OF FINANCIAL INSTRUMENTS (CONTINUED) The fair value estimates of financial instruments are made at a specific point in time based on relevant market information. Since no ready market exists for a significant portion of the financial instruments, fair value estimates are largely based on judgments after considering such factors as future expected credit losses, current economic conditions, risk characteristics of various financial instruments, and other factors. These estimates are subjective in nature and involve uncertainties and matters of significant judgment and therefore, cannot be determined with precision. Changes in assumptions could significantly affect these estimates. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive Loss | 6 Months Ended |
Jun. 30, 2024 | |
Equity [Abstract] | |
Accumulated Other Comprehensive Loss | Note 7- ACCUMULATED OTHER COMPREHENSIVE LOSS The following table presents the changes in accumulated other comprehensive loss by component net of tax for the three and six months ended June 30, 2024 and 2023: (Dollars in thousands) Pretax Tax Effect After-tax Three Months Ended June 30, 2024 Balance, beginning of period $ ( 13,102 ) $ 2,751 ( 10,351 ) Unrealized holding gain on available-for-sale securities arising during 291 ( 61 ) 230 Amortization of held-to-maturity discount resulting from transfer 46 ( 10 ) 36 Total other comprehensive income 337 ( 71 ) 266 Balance, end of period $ ( 12,765 ) $ 2,680 $ ( 10,085 ) Six Months Ended June 30, 2024 Balance, beginning of period $ ( 12,999 ) $ 2,729 $ ( 10,270 ) Unrealized holding gain on available-for-sale securities arising during 147 ( 31 ) 116 Amortization of held-to-maturity discount resulting from transfer 87 ( 18 ) 69 Total other comprehensive income 234 ( 49 ) 185 Balance, end of period $ ( 12,765 ) $ 2,680 $ ( 10,085 ) Three Months Ended June 30, 2023 Balance, beginning of period $ ( 14,981 ) $ 3,146 $ ( 11,835 ) Unrealized holding loss on available-for-sale securities arising during ( 1,923 ) 404 ( 1,519 ) Amortization of held-to-maturity discount resulting from transfer 48 ( 10 ) 38 Total other comprehensive loss ( 1,875 ) 394 ( 1,481 ) Balance, end of period $ ( 16,856 ) $ 3,540 $ ( 13,316 ) Six Months Ended June 30, 2023 Balance, beginning of period $ ( 16,354 ) $ 3,435 $ ( 12,919 ) Unrealized holding loss on available-for-sale securities arising during ( 596 ) 125 ( 471 ) Amortization of held-to-maturity discount resulting from transfer 94 ( 20 ) 74 Total other comprehensive loss ( 502 ) 105 ( 397 ) Balance, end of period $ ( 16,856 ) $ 3,540 $ ( 13,316 ) |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2024 | |
Accounting Policies [Abstract] | |
Use of Estimates in Preparing Financial Statements | USE OF ESTIMATES IN PREPARING FINANCIAL STATEMENTS In preparing the Consolidated Financial Statements, in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the Consolidated Balance Sheets and reported amounts of revenues and expenses during each reporting period. Actual results could differ from those estimates. The most significant estimates susceptible to change in the near term relate to management’s determination of the allowance for credit losses and the fair value of financial instruments. |
Recently Issued Accounting Pronouncements | RECENTLY ISSUED ACCOUNTING PRONOUNCMENTS In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic740): Improvements to Income Tax Disclosure . This new guidance is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in this Update address investor requests for more transparency about income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid information. This Update also includes certain other amendments to improve the effectiveness of income tax disclosures. It is effective for public business entities for annual periods beginning after December 15, 2024. This update is not expected to have a significant impact on the Company's financial statements. |
Securities (Tables)
Securities (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Investments, Debt and Equity Securities [Abstract] | |
Summary of Securities Available-for-Sale and Restricted Stock | Securities consist of the following on June 30, 2024 and December 31, 2023: (Dollars in thousands) Amortized Gross Gross Allowance for Credit Losses Fair June 30, 2024 Available-for-sale U.S. Treasury securities $ 11,065 $ — $ ( 253 ) $ — $ 10,812 U.S. Government agencies 13,999 — ( 655 ) — 13,344 Mortgage-backed securities of government agencies 66,544 14 ( 7,731 ) — 58,827 Asset-backed securities of government agencies 473 — ( 4 ) — 469 State and political subdivisions 17,429 — ( 1,017 ) — 16,412 Corporate bonds 29,090 4 ( 1,679 ) — 27,415 Total available-for-sale 138,600 18 ( 11,339 ) — 127,279 Held-to-maturity U.S. Treasury securities $ 10,329 $ — $ ( 784 ) — $ 9,545 Mortgage-backed securities of government agencies 204,036 — ( 32,372 ) — 171,664 State and political subdivisions 2,534 — ( 259 ) — 2,275 Total held-to-maturity 216,899 — ( 33,415 ) — 183,484 Equity securities 185 45 — — 230 Restricted stock 1,520 — — — 1,520 Total securities $ 357,204 $ 63 $ ( 44,754 ) $ — $ 312,513 December 31, 2023 Available-for-sale U.S. Treasury securities $ 18,110 $ — $ ( 421 ) $ — $ 17,689 U.S. Government agencies 14,000 — ( 848 ) — 13,152 Mortgage-backed securities of government agencies 72,279 98 ( 7,332 ) — 65,045 Asset-backed securities of government agencies 548 — ( 25 ) — 523 State and political subdivisions 17,476 — ( 890 ) — 16,586 Corporate bonds 29,135 6 ( 2,056 ) — 27,085 Total available-for-sale 151,548 104 ( 11,572 ) — 140,080 Held-to-maturity U.S. Treasury securities 10,305 — ( 798 ) — 9,507 Mortgage-backed securities of government agencies 213,425 — ( 30,534 ) — 182,891 State and political subdivisions 2,549 2 ( 219 ) — 2,332 Total held-to-maturity 226,279 2 ( 31,551 ) — 194,730 Equity securities 185 74 — — 259 Restricted stock 1,535 — — — 1,535 Total securities $ 379,547 $ 180 $ ( 43,123 ) $ — $ 336,604 |
Summary of Amortized Cost and Fair Value of Debt Securities | The amortized cost and fair value of debt securities on June 30, 2024, by contractual maturity, are shown below. Actual maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. (Dollars in thousands) Amortized cost Fair value Available-for-sale Due in one year or less $ 25,351 $ 24,823 Due after one through five years 32,105 30,382 Due after five through ten years 18,386 16,737 Due after ten years 62,758 55,337 Total debt securities available-for-sale $ 138,600 $ 127,279 Held-to-maturity Due in one year or less $ 2,499 $ 2,466 Due after one through five years 5,176 4,842 Due after five through ten years 4,879 4,251 Due after ten years 204,345 171,925 Total debt securities held-to-maturity $ 216,899 $ 183,484 |
Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities | The following table presents gross unrealized losses and fair value of securities available-for-sale, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, on June 30, 2024 and December 31, 2023: Securities in a continuous unrealized loss position Less than 12 months 12 months or more Total (Dollars in thousands) Gross Fair Gross Fair Gross Fair June 30, 2024 Available-for-sale U.S. Treasury securities $ — $ — $ ( 253 ) $ 10,812 $ ( 253 ) $ 10,812 U.S. Government agencies — — ( 655 ) 13,344 ( 655 ) 13,344 Mortgage-backed securities of government agencies ( 70 ) 5,475 ( 7,661 ) 49,762 ( 7,731 ) 55,237 Asset-backed securities of government agencies — — ( 4 ) 469 ( 4 ) 469 State and political subdivisions ( 2 ) 423 ( 1,015 ) 15,874 ( 1,017 ) 16,297 Corporate bonds — — ( 1,679 ) 26,915 ( 1,679 ) 26,915 Total temporarily impaired available-for-sale securities $ ( 72 ) $ 5,898 $ ( 11,267 ) $ 117,176 $ ( 11,339 ) $ 123,074 December 31, 2023 Available-for-sale U.S. Treasury securities $ — $ — $ ( 421 ) $ 17,689 $ ( 421 ) $ 17,689 U.S. Government agencies — — ( 848 ) 13,152 ( 848 ) 13,152 Mortgage-backed securities of government agencies ( 3 ) 1,909 ( 7,329 ) 52,144 ( 7,332 ) 54,053 Asset-backed securities of government agencies — — ( 25 ) 523 ( 25 ) 523 State and political subdivisions ( 28 ) 1,783 ( 862 ) 14,263 ( 890 ) 16,046 Corporate bonds — — ( 2,056 ) 26,586 ( 2,056 ) 26,586 Total temporarily impaired available-for-sale securities $ ( 31 ) $ 3,692 $ ( 11,541 ) $ 124,357 $ ( 11,572 ) $ 128,049 |
Summary of Amortized Cost of Held-to Maturity Debt Securities Aggregated by Credit Quality Indicator | The following table summarizes the amortized cost of held-to maturity debt securities at June 30, 2024 and December 31, 2023, aggregated by credit quality indicator: (Dollars in thousands) U.S. Treasury securities Mortgage- backed securities of government agencies State and political subdivisions June 30, 2024 Credit rating: AAA / AA / A $ 10,329 $ 204,036 $ 2,534 BBB / BB / B — — — Lower than B — — — Non-rated — — — Total $ 10,329 $ 204,036 $ 2,534 December 31, 2023 Credit rating: AAA / AA / A $ 10,305 $ 213,425 $ 2,549 BBB / BB / B — — — Lower than B — — — Non-rated — — — Total $ 10,305 $ 213,425 $ 2,549 |
Loans (Tables)
Loans (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Receivables [Abstract] | |
Summary of Loans | The composition of net loans receivable as of June 30, 2024 and December 31, 2023: (Dollars in thousands) June 30, December 31, 2023 Commercial and industrial $ 143,950 $ 152,125 Commercial real estate 194,637 190,702 Commercial lessors of buildings 96,235 82,687 Construction 55,275 49,214 Consumer mortgage 171,198 166,891 Home equity line of credit 44,331 43,269 Consumer installment 10,646 10,636 Consumer indirect 5,734 5,957 Total loans 722,006 701,481 Allowance for credit losses ( 10,587 ) ( 6,607 ) Deferred loan fees, net ( 90 ) ( 77 ) Net Loans $ 711,329 $ 694,797 |
Summary of Allowance for Loan Losses | Allowance for Credit Losses The following table details activity in the allowance for credit losses ("ACL") by portfolio segment for the three-months ended June 30, 2024 and 2023. Allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories. For the three and six months ended June 30, 2024 , the increase in the provision for commercial and industrial loans and commercial real estate loans primarily relates to one individually evaluated commercial loan relationship which has a collateral shortfall. As of June 30, 2024, this loan relationship has a specific reserve of $ 4.1 million. The remaining provision amounts for the quarter are primarily a result of changes in loan volume and weighted average remaining maturities of the loans in each category. For the three and six month periods in 2023 the increase in the provision for commercial and industrial loans primarily related to the increase in loan volume. The change in provision for commercial lessors of buildings related to the increase in loans graded special mention. The decrease in provision for commercial real estate loans was due to the payoff of one larger loan relationship with a specific allocation. (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions (Recovery) Ending Balance Three Months Ended June 30, 2024 Commercial and industrial $ 2,224 $ ( 257 ) $ 12 $ 3,295 $ 5,274 Commercial real estate 1,612 — 1 420 2,033 Commercial lessors of buildings 1,344 — — ( 16 ) 1,328 Construction 323 — — 3 326 Consumer mortgage 1,068 — 8 ( 15 ) 1,061 Home equity line of credit 284 — — ( 8 ) 276 Consumer installment 74 ( 17 ) 4 13 74 Consumer indirect 207 — 3 5 215 $ 7,136 $ ( 274 ) $ 28 $ 3,697 $ 10,587 Six Months Ended June 30, 2024 Commercial and industrial $ 1,737 $ ( 268 ) $ 19 $ 3,786 $ 5,274 Commercial real estate 1,637 — 1 395 2,033 Commercial lessors of buildings 1,200 — — 128 1,328 Construction 333 — — ( 7 ) 326 Consumer mortgage 1,107 — 9 ( 55 ) 1,061 Home equity line of credit 288 — — ( 12 ) 276 Consumer installment 76 ( 35 ) 7 26 74 Consumer indirect 229 ( 59 ) 6 39 215 $ 6,607 $ ( 362 ) $ 42 $ 4,300 $ 10,587 NOTE 3 – LOANS (CONTINUED) (Dollars in thousands) Beginning Balance Impact of Adopting ASC 326 Charge-offs Recoveries Provisions (Recovery) Ending Balance Three Months Ended June 30, 2023 Commercial and industrial $ 1,821 $ — $ — $ 9 $ 289 $ 2,119 Commercial real estate 2,236 — — — ( 354 ) 1,882 Commercial lessors of buildings 965 — — — 272 1,237 Construction 271 — — — 12 283 Consumer mortgage 693 — — 1 20 714 Home equity line of credit 186 — — — ( 8 ) 178 Consumer installment 47 — ( 15 ) 5 15 52 Consumer indirect 88 — — 10 ( 4 ) 94 Unallocated — — — — — — $ 6,307 $ — $ ( 15 ) $ 25 $ 242 $ 6,559 Six Months Ended June 30, 2023 Commercial and industrial $ 1,110 $ 658 $ — $ 19 $ 332 $ 2,119 Commercial real estate 2,760 ( 541 ) — 1 ( 338 ) 1,882 Commercial lessors of buildings — 974 — — 263 1,237 Construction 803 ( 515 ) — — ( 5 ) 283 Consumer mortgage 1,268 ( 580 ) — 1 25 714 Home equity line of credit — 201 — — ( 23 ) 178 Consumer installment 233 ( 183 ) ( 23 ) 5 20 52 Consumer indirect — 91 ( 31 ) 34 — 94 Unallocated 664 ( 664 ) — — — — $ 6,838 $ ( 559 ) $ ( 54 ) $ 60 $ 274 $ 6,559 |
Schedule of Aging of Accruing Past Due and Nonaccrual Loans | The following table presents the classes of the loan portfolio summarized by the past-due status. (Dollars in thousands) Current 30-59 60-89 90 Days + Total Past Due Total June 30, 2024 Commercial and industrial $ 143,869 $ 61 $ 20 $ — $ 81 $ 143,950 Commercial real estate 194,637 — — — — 194,637 Commercial lessors of buildings 96,235 — — — — 96,235 Construction 55,275 — — — — 55,275 Consumer mortgage 169,824 1,286 88 — 1,374 171,198 Home equity line of credit 44,132 93 72 34 199 44,331 Consumer installment 10,620 17 9 — 26 10,646 Consumer indirect 5,682 52 — — 52 5,734 Total Loans $ 720,274 $ 1,509 $ 189 $ 34 $ 1,732 $ 722,006 December 31, 2023 Commercial and industrial $ 151,964 $ 111 $ 50 $ — $ 161 $ 152,125 Commercial real estate 190,702 — — — — 190,702 Commercial lessors of buildings 82,687 — — — — 82,687 Construction 49,214 — — — — 49,214 Consumer mortgage 166,411 307 173 — 480 166,891 Home equity line of credit 42,955 33 281 — 314 43,269 Consumer installment 10,602 25 9 — 34 10,636 Consumer indirect 5,821 52 84 — 136 5,957 Total Loans $ 700,356 $ 528 $ 597 $ — $ 1,125 $ 701,481 NOTE 3 – LOANS (CONTINUED) The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of June 30, 2024 and December 31, 2023: (Dollars in thousands) Nonaccrual with no ACL Nonaccrual with ACL Total Nonaccrual Loans Past Due 90 Days or More Still Accruing Total Nonperforming June 30, 2024 Commercial and industrial $ 39 $ 5,251 $ 5,290 $ — $ 5,290 Commercial real estate — 1,099 1,099 — 1,099 Commercial lessors of buildings 13 — 13 — 13 Construction — — — — — Consumer mortgage 122 — 122 — 122 Home equity line of credit — — — 34 34 Consumer installment 14 — 14 — 14 Consumer indirect 111 — 111 — 111 Total Loans $ 299 $ 6,350 $ 6,649 $ 34 $ 6,683 December 31, 2023 Commercial and industrial $ 59 $ — $ 59 $ — $ 59 Commercial real estate 62 — 62 — 62 Commercial lessors of buildings 15 — 15 — 15 Construction — — — — — Consumer mortgage 172 — 172 — 172 Home equity line of credit — — — — — Consumer installment 49 — 49 — 49 Consumer indirect 39 — 39 — 39 Total Loans $ 396 $ — $ 396 $ — $ 396 |
Schedule of Collateral Dependent Loans | The following table presents the amortized cost basis of collateral dependent loans by class of loan: Type of Collateral (Dollars in thousands) Real Estate Blanket Liens June 30, 2024 Commercial and industrial $ — $ 5,251 Commercial real estate 1,099 — Total collateral dependent loans $ 1,099 $ 5,251 |
Summary of Loans by Credit Quality Indicator | Loans not meeting the criteria above that are analyzed individually as part of the above-described process are considered to be pass rated loans. Based on the most recent analysis performed, the following tables present the recorded investment in non-homogeneous loans by internal risk rating system as of June 30, 2024 and December 31, 2023: Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total June 30, 2024 Commercial and industrial: Pass $ 8,357 $ 30,310 $ 21,888 $ 9,692 $ 4,015 $ 8,008 $ 43,459 $ — $ 125,729 Special mention 63 58 179 156 277 — 2,322 — 3,055 Substandard — 1,486 3,006 938 328 1,056 8,352 — 15,166 Doubtful — — — — — — — — — Total $ 8,420 $ 31,854 $ 25,073 $ 10,786 $ 4,620 $ 9,064 $ 54,133 $ — $ 143,950 YTD gross charge-offs $ — $ 246 $ - $ — $ - $ 22 $ - $ — $ - $ — $ — $ — $ 268 Commercial real estate: Pass $ 6,793 $ 23,687 $ 40,996 $ 49,193 $ 14,045 $ 39,537 $ 822 $ — $ 175,073 Special Mention — 237 1,467 3,041 2,069 510 — — 7,324 Substandard 348 1,099 — — — 10,793 — — 12,240 Doubtful — — — — — — — — — Total $ 7,141 $ 25,023 $ 42,463 $ 52,234 $ 16,114 $ 50,840 $ 822 $ — $ 194,637 YTD gross charge-offs $ — $ — $ - $ — $ - $ — $ - $ — $ - $ — $ — $ — Commercial lessors of buildings: Pass $ 17,262 $ 21,112 $ 22,031 $ 15,655 $ 3,274 $ 14,544 $ 391 $ — $ 94,269 Special Mention — — — 184 — — — — 184 Substandard — — 567 233 969 13 — — 1,782 Doubtful — — — — — — — — — Total $ 17,262 $ 21,112 $ 22,598 $ 16,072 $ 4,243 $ 14,557 $ 391 $ — $ 96,235 YTD gross charge-offs $ — $ — $ - $ — $ - $ — $ - $ — $ - $ — $ — $ — $ — Commercial Construction: Pass $ 4,785 $ 30,418 $ 9,926 $ 760 $ 851 $ 470 $ 1,352 $ — $ 48,562 Special Mention — — — — — — — Substandard — — — — — 76 — — 76 Doubtful — — — — — — — — — Total $ 4,785 $ 30,418 $ 9,926 $ 760 $ 851 $ 546 $ 1,352 $ — $ 48,638 YTD gross charge-offs $ — $ — $ - $ — $ - $ — $ - $ — $ - $ — $ — $ — $ — Total Pass $ 37,197 $ 105,527 $ 94,841 $ 75,300 $ 22,185 $ 62,559 $ 46,024 $ — $ 443,633 Special Mention 63 295 1,646 3,381 2,346 510 2,322 — 10,563 Substandard 348 2,585 3,573 1,171 1,297 11,938 8,352 — 29,264 Doubtful — — — — — — — — — Total $ 37,608 $ 108,407 $ 100,060 $ 79,852 $ 25,828 $ 75,007 $ 56,698 $ — $ 483,460 YTD commercial gross charge-offs $ — $ 246 $ — $ 22 $ — $ — $ — $ — $ 268 Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total December 31, 2023 Commercial and industrial: Pass $ 32,037 $ 25,996 $ 12,196 $ 5,207 $ 3,388 $ 7,112 $ 45,423 $ — $ 131,359 Special mention 76 225 522 33 33 65 3,872 — 4,826 Substandard 782 2,968 1,021 1,017 106 1,416 8,630 — 15,940 Doubtful — — — — — — — — — Total $ 32,895 $ 29,189 $ 13,739 $ 6,257 $ 3,527 $ 8,593 $ 57,925 $ — $ 152,125 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial real estate: Pass $ 22,206 $ 38,696 $ 54,830 $ 12,233 $ 19,543 $ 21,938 $ 647 $ — $ 170,093 Special Mention 241 1,380 2,292 2,496 — 322 — — 6,731 Substandard 1,150 — 888 — 466 11,374 — — 13,878 Doubtful — — — — — — — — — Total $ 23,597 $ 40,076 $ 58,010 $ 14,729 $ 20,009 $ 33,634 $ 647 $ — $ 190,702 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial lessors of buildings: Pass $ 18,353 $ 22,762 $ 15,455 $ 6,429 $ 3,543 $ 8,934 $ 360 $ — $ 75,836 Special Mention — 436 1,687 — 3,578 — — — 5,701 Substandard — — — 989 — 161 — — 1,150 Doubtful — — — — — — — — — Total $ 18,353 $ 23,198 $ 17,142 $ 7,418 $ 7,121 $ 9,095 $ 360 $ — $ 82,687 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial construction: Pass $ 24,119 $ 14,855 $ 576 $ 272 $ 281 $ 256 $ — $ — $ 40,359 Special Mention — 258 43 635 — — — — 936 Substandard — — — 30 80 — — — 110 Doubtful — — — — — — — — — Total $ 24,119 $ 15,113 $ 619 $ 937 $ 361 $ 256 $ — $ — $ 41,405 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total Pass $ 96,715 $ 102,309 $ 83,057 $ 24,141 $ 26,755 $ 38,240 $ 46,430 $ — $ 417,647 Special Mention 317 2,299 4,544 3,164 3,611 387 3,872 — 18,194 Substandard 1,932 2,968 1,909 2,036 652 12,951 8,630 — 31,078 Doubtful — — — — — — — — — Total $ 98,964 $ 107,576 $ 89,510 $ 29,341 $ 31,018 $ 51,578 $ 58,932 $ — $ 466,919 YTD commercial gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — The Company monitors the credit risk profile by payment activity for the loan classes listed below. Loans past due 90 days or more and loans on nonaccrual status are considered nonperforming. The following table presents the amortized cost in consumer loans based on payment activity as of June 30, 2024 and December 31, 2023: Term Loans Amortized Cost Basis by Origination Year (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total June 30, 2024 Consumer mortgage: Performing $ 8,086 $ 27,855 $ 33,551 $ 34,420 $ 30,606 $ 36,558 $ — $ — $ 171,076 Nonperforming — — — — — 122 — — 122 Total $ 8,086 $ 27,855 $ 33,551 $ 34,420 $ 30,606 $ 36,680 $ — $ — $ 171,198 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer Construction: Performing $ 1,884 $ 3,142 $ 1,076 $ 168 $ 324 $ 43 $ — $ — $ 6,637 Nonperforming — — — — — — — — — Total $ 1,884 $ 3,142 $ 1,076 $ 168 $ 324 $ 43 $ — $ — $ 6,637 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Home equity line of credit: Performing $ — $ — $ — $ — $ — $ — $ 44,257 $ 40 $ 44,297 Nonperforming — — — — — — 34 — 34 Total $ — $ — $ — $ — $ — $ — $ 44,291 $ 40 $ 44,331 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer installment: Performing $ 2,785 $ 4,400 $ 2,216 $ 623 $ 336 $ 205 $ 67 $ — $ 10,632 Nonperforming — 7 — — — 7 — — 14 Total $ 2,785 $ 4,407 $ 2,216 $ 623 $ 336 $ 212 $ 67 $ — $ 10,646 YTD gross charge-offs $ — $ 12 $ 15 $ 2 $ 1 $ 5 $ — $ — $ 35 Consumer indirect: Performing $ 545 $ 715 $ 1,011 $ 537 $ 530 $ 2,285 $ — $ — $ 5,623 Nonperforming — 22 — — — 89 — — 111 Total $ 545 $ 737 $ 1,011 $ 537 $ 530 $ 2,374 $ — $ — $ 5,734 YTD gross charge-offs $ — $ — $ — $ — $ — $ 59 $ — $ — $ 59 Total Performing $ 13,300 $ 36,112 $ 37,854 $ 35,748 $ 31,796 $ 39,091 $ 44,324 $ 40 $ 238,265 Nonperforming — 29 — — — 218 34 — 281 Total $ 13,300 $ 36,141 $ 37,854 $ 35,748 $ 31,796 $ 39,309 $ 44,358 $ 40 $ 238,546 YTD consumer gross charge-offs $ — $ 12 $ 15 $ 2 $ 1 $ 64 $ — $ — $ 94 Term Loans Amortized Cost Basis by Origination Year 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total December 31, 2023 Consumer mortgage: Performing $ 24,521 $ 34,798 $ 35,802 $ 32,259 $ 8,931 $ 30,408 $ — $ — $ 166,719 Nonperforming — — — — — 172 — — 172 Total $ 24,521 $ 34,798 $ 35,802 $ 32,259 $ 8,931 $ 30,580 $ — $ — $ 166,891 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer construction: Performing $ 5,463 $ 1,477 $ 264 $ 483 $ 81 $ 41 $ — $ — $ 7,809 Nonperforming — — — — — — — — — Total $ 5,463 $ 1,477 $ 264 $ 483 $ 81 $ 41 $ — $ — $ 7,809 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Home equity line of credit: Performing $ — $ — $ — $ — $ — $ — $ 43,223 $ 46 $ 43,269 Nonperforming — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ 43,223 $ 46 $ 43,269 YTD gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Consumer installment: Performing $ 5,705 $ 3,067 $ 981 $ 513 $ 118 $ 184 $ 68 $ — $ 10,636 Nonperforming — — — — — — — — — Total $ 5,705 $ 3,067 $ 981 $ 513 $ 118 $ 184 $ 68 $ — $ 10,636 YTD gross charge-offs $ 2 $ 12 $ 19 $ 5 $ 2 $ 6 $ — $ — $ 46 Consumer indirect: Performing $ 858 $ 1,086 $ 622 $ 568 $ 607 $ 2,128 $ — $ — $ 5,869 Nonperforming — 3 — — 81 4 — — 88 Total $ 858 $ 1,089 $ 622 $ 568 $ 688 $ 2,132 $ — $ — $ 5,957 YTD gross charge-offs $ — $ — $ — $ — $ — $ 66 $ — $ — $ 66 Total Performing $ 36,547 $ 40,428 $ 37,669 $ 33,823 $ 9,737 $ 32,761 $ 43,291 $ 46 $ 234,302 Nonperforming — 3 — — 81 176 — — 260 Total $ 36,547 $ 40,431 $ 37,669 $ 33,823 $ 9,818 $ 32,937 $ 43,291 $ 46 $ 234,562 YTD consumer gross charge-offs $ 2 $ 12 $ 19 $ 5 $ 2 $ 72 $ — $ — $ 112 Consumer mortgages are substantially secured by one to four family owner occupied properties and consumer indirect loans are substantially secured by recreational vehicles. All nonperforming consumer loans are evaluated when placed on nonaccrual status and may be charged down based on the collateral fair value less cost to sell if that value is lower than the outstanding balance. As of June 30, 2024 there were two loans secured by consumer real estate totaling $ 38 thousand in process of foreclosure. |
Short-Term Borrowings (Tables)
Short-Term Borrowings (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Debt Disclosure [Abstract] | |
Summary of Repurchase Agreements and Related Collateral Accounted for as Secured Borrowings | The following table provides additional detail regarding repurchase agreements and the related collateral accounted for as secured borrowings. Remaining Contractual Maturity June 30, December 31, (Dollars in thousands) 2024 2023 Securities of U.S. Government Agencies and mortgage-backed securities of $ 27,995 $ 36,002 Repurchase agreements 27,842 35,843 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Fair Value Disclosures [Abstract] | |
Schedule of Fair Value of Assets Measured on Recurring Basis | The following table presents the assets reported on the Consolidated Balance Sheets at their fair value on a recurring basis as of June 30, 2024 and December 31, 2023 by level within the fair value hierarchy. No liabilities are carried at fair value. Financial assets and liabilities are classified in their entirety based on the lowest level of input that is significant to the fair value measurement. Equity securities with readily determinable values and U.S. Treasury Notes are valued at the closing price reported on the active market on which the individual securities are traded. Obligations of U.S. government agencies, mortgage-backed securities, asset-backed securities, obligations of states and political subdivisions and corporate bonds are valued at observable market data for similar assets. Equity securities without readily determinable values are carried at amortized cost adjusted for impairment and observable price changes and are not included in the table below. (Dollars in thousands) Level I Level II Level III Total June 30, 2024 Assets: Securities available-for-sale U.S. Treasury securities $ 10,812 $ — $ — $ 10,812 U.S. Government agencies — 13,344 — 13,344 Mortgage-backed securities of government agencies — 58,827 — 58,827 Asset-backed securities of government agencies — 469 — 469 State and political subdivisions — 16,412 — 16,412 Corporate bonds — 27,415 — 27,415 Total available-for-sale securities $ 10,812 $ 116,467 $ — $ 127,279 Equity securities $ 184 $ — $ — $ 184 December 31, 2023 Assets: Securities available-for-sale U.S. Treasury securities $ 17,689 $ — $ — $ 17,689 U.S. Government agencies — 13,152 — 13,152 Mortgage-backed securities of government agencies — 65,045 — 65,045 Asset-backed securities of government agencies — 523 — 523 State and political subdivisions — 16,586 — 16,586 Corporate bonds — 27,085 — 27,085 Total available-for-sale securities $ 17,689 $ 122,391 $ — $ 140,080 Equity securities $ 213 $ — $ — $ 213 |
Schedule of Assets Measured on Nonrecurring Basis | The following table presents the assets measured on a nonrecurring basis on the consolidated balance sheet at their fair value as of June 30, 2024, by level within the fair value hierarchy. (Dollars in thousands) Level I Level II Level III Total June 30, 2024 Individually evaluated collateral dependent loans recorded at fair value: Commercial and industrial $ — $ — $ 1,577 $ 1,577 Commercial real estate — — 679 679 Total individually evaluated collateral dependent loans recorded at fair value: $ — $ — $ 2,256 $ 2,256 |
Fair Values of Financial Inst_2
Fair Values of Financial Instruments (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Investments, All Other Investments [Abstract] | |
Schedule of Estimated Fair Values of Recognized Financial Instruments Carried at Amortized Cost | The estimated fair values of recognized financial instruments carried at amortized cost as of June 30, 2024 and December 31, 2023 are as follows: (Dollars in thousands) Carrying Level I Level II Level III Fair Value June 30, 2024 Financial assets Securities held-to-maturity $ 216,899 $ 9,545 $ 173,939 $ — $ 183,484 Net loans 711,329 — — 674,962 674,962 Mortgage servicing rights 597 — — 597 597 Financial liabilities Deposits $ 1,023,835 $ 800,814 $ — $ 224,821 $ 1,025,635 Other borrowings 1,326 — — 1,154 1,154 December 31, 2023 Financial assets Securities held-to-maturity $ 226,279 $ 9,507 $ 185,223 $ — $ 194,730 Net loans 694,797 — — 663,510 663,510 Mortgage servicing rights 600 — — 600 600 Financial liabilities Deposits $ 1,027,427 $ 835,847 $ — $ 193,126 $ 1,028,973 Other borrowings 1,754 — — 1,546 1,546 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive Loss (Tables) | 6 Months Ended |
Jun. 30, 2024 | |
Equity [Abstract] | |
Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax | The following table presents the changes in accumulated other comprehensive loss by component net of tax for the three and six months ended June 30, 2024 and 2023: (Dollars in thousands) Pretax Tax Effect After-tax Three Months Ended June 30, 2024 Balance, beginning of period $ ( 13,102 ) $ 2,751 ( 10,351 ) Unrealized holding gain on available-for-sale securities arising during 291 ( 61 ) 230 Amortization of held-to-maturity discount resulting from transfer 46 ( 10 ) 36 Total other comprehensive income 337 ( 71 ) 266 Balance, end of period $ ( 12,765 ) $ 2,680 $ ( 10,085 ) Six Months Ended June 30, 2024 Balance, beginning of period $ ( 12,999 ) $ 2,729 $ ( 10,270 ) Unrealized holding gain on available-for-sale securities arising during 147 ( 31 ) 116 Amortization of held-to-maturity discount resulting from transfer 87 ( 18 ) 69 Total other comprehensive income 234 ( 49 ) 185 Balance, end of period $ ( 12,765 ) $ 2,680 $ ( 10,085 ) Three Months Ended June 30, 2023 Balance, beginning of period $ ( 14,981 ) $ 3,146 $ ( 11,835 ) Unrealized holding loss on available-for-sale securities arising during ( 1,923 ) 404 ( 1,519 ) Amortization of held-to-maturity discount resulting from transfer 48 ( 10 ) 38 Total other comprehensive loss ( 1,875 ) 394 ( 1,481 ) Balance, end of period $ ( 16,856 ) $ 3,540 $ ( 13,316 ) Six Months Ended June 30, 2023 Balance, beginning of period $ ( 16,354 ) $ 3,435 $ ( 12,919 ) Unrealized holding loss on available-for-sale securities arising during ( 596 ) 125 ( 471 ) Amortization of held-to-maturity discount resulting from transfer 94 ( 20 ) 74 Total other comprehensive loss ( 502 ) 105 ( 397 ) Balance, end of period $ ( 16,856 ) $ 3,540 $ ( 13,316 ) |
Securities - Summary of Securit
Securities - Summary of Securities Available-for-Sale and Restricted Stock (Detail) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2024 | Dec. 31, 2023 | |
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | $ 138,600 | $ 151,548 |
Gross Unrealized Gains, Available-for-sale | 18 | 104 |
Gross Unrealized Losses, Available-for-sale | (11,339) | (11,572) |
Fair Value, Available-for-sale | 127,279 | 140,080 |
Amortized Cost, Held to maturity | 216,899 | 226,279 |
Gross Unrealized Gains, Held to maturity | 2 | |
Gross Unrealized Losses, Held to maturity | (33,415) | (31,551) |
Fair Value, Held to maturity | 183,484 | 194,730 |
Amortized Cost | 357,204 | 379,547 |
Gross Unrealized Gains | 63 | 180 |
Gross Unrealized Losses | (44,754) | (43,123) |
Fair Value | 312,513 | 336,604 |
U.S. Treasury Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 11,065 | 18,110 |
Gross Unrealized Losses, Available-for-sale | (253) | (421) |
Fair Value, Available-for-sale | 10,812 | 17,689 |
Amortized Cost, Held to maturity | 10,329 | 10,305 |
Gross Unrealized Losses, Held to maturity | (784) | (798) |
Fair Value, Held to maturity | 9,545 | 9,507 |
U.S. Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 13,999 | 14,000 |
Gross Unrealized Losses, Available-for-sale | (655) | (848) |
Fair Value, Available-for-sale | 13,344 | 13,152 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 66,544 | 72,279 |
Gross Unrealized Gains, Available-for-sale | 14 | 98 |
Gross Unrealized Losses, Available-for-sale | (7,731) | (7,332) |
Fair Value, Available-for-sale | 58,827 | 65,045 |
Amortized Cost, Held to maturity | 204,036 | 213,425 |
Gross Unrealized Losses, Held to maturity | (32,372) | (30,534) |
Fair Value, Held to maturity | 171,664 | 182,891 |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 473 | 548 |
Gross Unrealized Losses, Available-for-sale | (4) | (25) |
Fair Value, Available-for-sale | 469 | 523 |
State and Political Subdivisions [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 17,429 | 17,476 |
Gross Unrealized Losses, Available-for-sale | (1,017) | (890) |
Fair Value, Available-for-sale | 16,412 | 16,586 |
Amortized Cost, Held to maturity | 2,534 | 2,549 |
Gross Unrealized Gains, Held to maturity | 2 | |
Gross Unrealized Losses, Held to maturity | (259) | (219) |
Fair Value, Held to maturity | 2,275 | 2,332 |
Corporate Bonds [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Available-for-sale | 29,090 | 29,135 |
Gross Unrealized Gains, Available-for-sale | 4 | 6 |
Gross Unrealized Losses, Available-for-sale | (1,679) | (2,056) |
Fair Value, Available-for-sale | 27,415 | 27,085 |
Equity Securities [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost, Equity securities | 185 | 185 |
Gross Unrealized Gains, Equity securities | 45 | 74 |
Fair Value, Equity securities | 230 | 259 |
Restricted Stock [Member] | ||
Schedule of Trading Securities and Other Trading Assets [Line Items] | ||
Amortized Cost | 1,520 | 1,535 |
Fair Value | $ 1,520 | $ 1,535 |
Securities - Summary of Amortiz
Securities - Summary of Amortized Cost and Fair Value of Debt Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Available-for-sale | ||
Due in one year or less, Amortized Cost | $ 25,351 | |
Due after one through five years, Amortized Cost | 32,105 | |
Due after five through ten years, Amortized Cost | 18,386 | |
Due after ten years, Amortized Cost | 62,758 | |
Amortized Cost, Available-for-sale | 138,600 | $ 151,548 |
Due in one year or less, Fair Value | 24,823 | |
Due after one through five years, Fair Value | 30,382 | |
Due after five through ten years, Fair Value | 16,737 | |
Due after ten years, Fair Value | 55,337 | |
Total debt securities available-for-sale, Fair Value | 127,279 | 140,080 |
Held-to-maturity | ||
Due in one year or less, Amortized Cost | 2,499 | |
Due after one through five years, Amortized cost | 5,176 | |
Due after five through ten years, Amortized Cost | 4,879 | |
Due after ten years, Amortized Cost | 204,345 | |
Amortized Cost, Held to maturity | 216,899 | 226,279 |
Due in one year or less, Fair Value | 2,466 | |
Due after one through five years, Fair Value | 4,842 | |
Due after five through ten years, Fair Value | 4,251 | |
Due after ten years, Fair Value | 171,925 | |
Total debt securities held-to-maturity, Fair Value | $ 183,484 | $ 194,730 |
Securities - Additional Informa
Securities - Additional Information (Detail) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 USD ($) Security $ / shares | Jun. 30, 2023 USD ($) | Jun. 30, 2024 USD ($) Security $ / shares | Jun. 30, 2023 USD ($) | Dec. 31, 2023 USD ($) | |
Debt and Equity Securities, FV-NI [Line Items] | |||||
Fair value of pledged securities | $ 147,000,000 | $ 147,000,000 | $ 126,000,000 | ||
Restricted stock investment in FHLB stock | 1,000,000 | 1,000,000 | 1,000,000 | ||
Federal Home Loan Bank redemption of stock | $ 15,000 | $ 15,000 | |||
Federal Home Loan Bank redemption par value per share | $ / shares | $ 100 | $ 100 | |||
Federal Reserve Bank stock | $ 471,000 | $ 471,000 | 471,000 | ||
Proceeds from sale of available-for-sale securities | $ 0 | $ 0 | $ 0 | $ 0 | |
Number of securities in an unrealized loss position, Total | Security | 121 | 121 | |||
Number of securities in continuous unrealized loss position, 12 months or more | Security | 117 | ||||
Held to maturity security, allowance for credit loss | $ 0 | $ 0 | 0 | ||
Total available-for-sale securities | 127,279,000 | 127,279,000 | $ 140,080,000 | ||
US Treasury Securities And US Government Sponsored Agency Bonds [Member] | |||||
Debt and Equity Securities, FV-NI [Line Items] | |||||
Total available-for-sale securities | 83,000,000 | 83,000,000 | |||
Non-agency Debt Securities [Member] | |||||
Debt and Equity Securities, FV-NI [Line Items] | |||||
Total available-for-sale securities | 44,000,000 | 44,000,000 | |||
Non-agency Debt Securities [Member] | Non-rated Debt Securities [Member] | |||||
Debt and Equity Securities, FV-NI [Line Items] | |||||
Total available-for-sale securities | $ 10,500,000 | $ 10,500,000 |
Securities - Summary of Gross U
Securities - Summary of Gross Unrealized Losses and Fair Value of Available for Sale Securities (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | $ (72) | $ (31) |
Available-for-sale, Fair Value, Less Than 12 Months | 5,898 | 3,692 |
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (11,267) | (11,541) |
Available-for-sale, Fair Value, 12 Months or More | 117,176 | 124,357 |
Available-for-sale, Gross Unrealized Losses, Total | (11,339) | (11,572) |
Available-for-sale, Fair Value, Total | 123,074 | 128,049 |
Held-to-maturity, Gross Unrealized Losses, Total | (33,415) | (31,551) |
U.S. Treasury Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (253) | (421) |
Available-for-sale, Fair Value, 12 Months or More | 10,812 | 17,689 |
Available-for-sale, Gross Unrealized Losses, Total | (253) | (421) |
Available-for-sale, Fair Value, Total | 10,812 | 17,689 |
Held-to-maturity, Gross Unrealized Losses, Total | (784) | (798) |
U.S. Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (655) | (848) |
Available-for-sale, Fair Value, 12 Months or More | 13,344 | 13,152 |
Available-for-sale, Gross Unrealized Losses, Total | (655) | (848) |
Available-for-sale, Fair Value, Total | 13,344 | 13,152 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (70) | (3) |
Available-for-sale, Fair Value, Less Than 12 Months | 5,475 | 1,909 |
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (7,661) | (7,329) |
Available-for-sale, Fair Value, 12 Months or More | 49,762 | 52,144 |
Available-for-sale, Gross Unrealized Losses, Total | (7,731) | (7,332) |
Available-for-sale, Fair Value, Total | 55,237 | 54,053 |
Held-to-maturity, Gross Unrealized Losses, Total | (32,372) | (30,534) |
Asset-Backed Securities of Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (4) | (25) |
Available-for-sale, Fair Value, 12 Months or More | 469 | 523 |
Available-for-sale, Gross Unrealized Losses, Total | (4) | (25) |
Available-for-sale, Fair Value, Total | 469 | 523 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, Less Than 12 Months | (2) | (28) |
Available-for-sale, Fair Value, Less Than 12 Months | 423 | 1,783 |
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (1,015) | (862) |
Available-for-sale, Fair Value, 12 Months or More | 15,874 | 14,263 |
Available-for-sale, Gross Unrealized Losses, Total | (1,017) | (890) |
Available-for-sale, Fair Value, Total | 16,297 | 16,046 |
Held-to-maturity, Gross Unrealized Losses, Total | (259) | (219) |
Corporate Bonds [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available-for-sale, Gross Unrealized Losses, 12 Months or More | (1,679) | (2,056) |
Available-for-sale, Fair Value, 12 Months or More | 26,915 | 26,586 |
Available-for-sale, Gross Unrealized Losses, Total | (1,679) | (2,056) |
Available-for-sale, Fair Value, Total | $ 26,915 | $ 26,586 |
Securities - Summary of Amort_2
Securities - Summary of Amortized Cost of Held-to Maturity Debt Securities Aggregated by Credit Quality Indicator (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | $ 216,899 | $ 226,279 |
U.S. Treasury Securities [Member] | ||
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | 10,329 | 10,305 |
U.S. Treasury Securities [Member] | AAA / AA / A [Member] | ||
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | 10,329 | 10,305 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | 204,036 | 213,425 |
Mortgage-Backed Securities of Government Agencies [Member] | AAA / AA / A [Member] | ||
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | 204,036 | 213,425 |
State and Political Subdivisions [Member] | ||
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | 2,534 | 2,549 |
State and Political Subdivisions [Member] | AAA / AA / A [Member] | ||
Debt Securities, Held-to-Maturity, Credit Quality Indicator [Line Items] | ||
Amortized Cost, Held to maturity | $ 2,534 | $ 2,549 |
Loans - Summary of Loans (Detai
Loans - Summary of Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Mar. 31, 2024 | Dec. 31, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | $ 722,006 | $ 701,481 | ||||
Allowance for credit losses | (10,587) | $ (7,136) | (6,607) | $ (6,559) | $ (6,307) | $ (6,838) |
Deferred loan fees, net | (90) | (77) | ||||
Net loans | 711,329 | 694,797 | ||||
Commercial and Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 143,950 | 152,125 | ||||
Allowance for credit losses | (5,274) | (2,224) | (1,737) | (2,119) | (1,821) | (1,110) |
Commercial Real Estate [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 194,637 | 190,702 | ||||
Allowance for credit losses | (2,033) | (1,612) | (1,637) | (1,882) | (2,236) | (2,760) |
Commercial Lessors of Buildings [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 96,235 | 82,687 | ||||
Allowance for credit losses | (1,328) | (1,344) | (1,200) | (1,237) | (965) | |
Construction [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 55,275 | 49,214 | ||||
Allowance for credit losses | (326) | (323) | (333) | (283) | (271) | (803) |
Consumer Mortgage [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 171,198 | 166,891 | ||||
Allowance for credit losses | (1,061) | (1,068) | (1,107) | (714) | (693) | (1,268) |
Home Equity Line of Credit [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 44,331 | 43,269 | ||||
Allowance for credit losses | (276) | (284) | (288) | (178) | (186) | |
Consumer Installment [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 10,646 | 10,636 | ||||
Allowance for credit losses | (74) | (74) | (76) | (52) | (47) | $ (233) |
Consumer Indirect [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Total Loans | 5,734 | 5,957 | ||||
Allowance for credit losses | $ (215) | $ (207) | $ (229) | $ (94) | $ (88) |
Loans - Additional Information
Loans - Additional Information (Detail) | 6 Months Ended | |
Jun. 30, 2024 USD ($) Loan Industry | Dec. 31, 2023 USD ($) | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans serviced for others | $ 136,000,000 | $ 132,000,000 |
Total Loans | 721,916,000 | $ 701,404,000 |
Outstanding balance of commercial loans classified under credit risk, minimum amount | 500,000 | |
Loan relationship specific reserve | 4,100,000 | |
Consumer Mortgage [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Interest income recognized on nonaccrual loans | 33,000 | |
Consumer Real Estate [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Mortgage loans on consumer real estate | $ 38,000 | |
Number of loans secured | Loan | 2 | |
Industrial, Manufacturing and Production [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | $ 57,000,000 | |
Warehouses [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 38,000,000 | |
Health Care [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 27,000,000 | |
Residential Investment Property [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 24,000,000 | |
Retail Strip Centers [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 17,000,000 | |
Senior Housing [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 17,000,000 | |
Automotive Industry [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 15,000,000 | |
Retail Buildings [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 14,000,000 | |
Lodging [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | 11,000,000 | |
Office Building [Member] | Commercial Real Estate and Commercial Lessors [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans pledged as collateral dependent exposures | $ 8,000,000 | |
Credit Concentration Risk [Member] | Loans Receivable [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Number of industries for credit concentrations | Industry | 3 | |
Credit Concentration Risk [Member] | Loans Receivable [Member] | Lessors of Non Residential Buildings [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 75,800,000 | |
Concentration of credit percentage of total loans | 11% | |
Credit Concentration Risk [Member] | Loans Receivable [Member] | Manufacturers of Animal Food [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 39,300,000 | |
Concentration of credit percentage of total loans | 5% | |
Credit Concentration Risk [Member] | Loans Receivable [Member] | Hotels [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Total Loans | $ 30,500,000 | |
Concentration of credit percentage of total loans | 4% |
Loans - Schedule of Allowance f
Loans - Schedule of Allowance for Credit Losses by Portfolio Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | $ 7,136 | $ 6,307 | $ 6,607 | $ 6,838 | $ 6,838 |
Charge-offs | (274) | (15) | (362) | (54) | |
Recoveries | 28 | 25 | 42 | 60 | |
Provisions (Recovery) | 3,697 | 242 | 4,300 | 274 | |
Ending Balance | 10,587 | 6,559 | 10,587 | 6,559 | 6,607 |
Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | (559) | (559) | |||
Commercial and Industrial [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 2,224 | 1,821 | 1,737 | 1,110 | 1,110 |
Charge-offs | (257) | (268) | |||
Recoveries | 12 | 9 | 19 | 19 | |
Provisions (Recovery) | 3,295 | 289 | 3,786 | 332 | |
Ending Balance | 5,274 | 2,119 | 5,274 | 2,119 | 1,737 |
Commercial and Industrial [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 658 | 658 | |||
Commercial Real Estate [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 1,612 | 2,236 | 1,637 | 2,760 | 2,760 |
Recoveries | 1 | 1 | 1 | ||
Provisions (Recovery) | 420 | (354) | 395 | (338) | |
Ending Balance | 2,033 | 1,882 | 2,033 | 1,882 | 1,637 |
Commercial Real Estate [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | (541) | (541) | |||
Commercial Lessors of Buildings [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 1,344 | 965 | 1,200 | ||
Provisions (Recovery) | (16) | 272 | 128 | 263 | |
Ending Balance | 1,328 | 1,237 | 1,328 | 1,237 | 1,200 |
Commercial Lessors of Buildings [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 974 | 974 | |||
Construction [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 323 | 271 | 333 | 803 | 803 |
Provisions (Recovery) | 3 | 12 | (7) | (5) | |
Ending Balance | 326 | 283 | 326 | 283 | 333 |
Construction [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | (515) | (515) | |||
Consumer Mortgage [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 1,068 | 693 | 1,107 | 1,268 | 1,268 |
Recoveries | 8 | 1 | 9 | 1 | |
Provisions (Recovery) | (15) | 20 | (55) | 25 | |
Ending Balance | 1,061 | 714 | 1,061 | 714 | 1,107 |
Consumer Mortgage [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | (580) | (580) | |||
Home Equity Line of Credit [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 284 | 186 | 288 | ||
Provisions (Recovery) | (8) | (8) | (12) | (23) | |
Ending Balance | 276 | 178 | 276 | 178 | 288 |
Home Equity Line of Credit [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 201 | 201 | |||
Consumer Installment [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 74 | 47 | 76 | 233 | 233 |
Charge-offs | (17) | (15) | (35) | (23) | |
Recoveries | 4 | 5 | 7 | 5 | |
Provisions (Recovery) | 13 | 15 | 26 | 20 | |
Ending Balance | 74 | 52 | 74 | 52 | 76 |
Consumer Installment [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | (183) | (183) | |||
Consumer Indirect [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 207 | 88 | 229 | ||
Charge-offs | (59) | (31) | |||
Recoveries | 3 | 10 | 6 | 34 | |
Provisions (Recovery) | 5 | (4) | 39 | ||
Ending Balance | $ 215 | $ 94 | $ 215 | 94 | 229 |
Consumer Indirect [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 91 | 91 | |||
Unallocated [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | 664 | 664 | |||
Unallocated [Member] | Impact of Adopting ASC 326 [Member] | |||||
Financing Receivable Allowance For Credit Losses [Line Items] | |||||
Beginning Balance | $ (664) | $ (664) |
Loans - Schedule of Aging of Ac
Loans - Schedule of Aging of Accruing Past Due and Nonaccrual Loans (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 722,006 | $ 701,481 |
Non-accrual | 6,649 | 396 |
Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 720,274 | 700,356 |
30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,509 | 528 |
60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 189 | 597 |
90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 34 | |
Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,732 | 1,125 |
Commercial and Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 143,950 | 152,125 |
Non-accrual | 5,290 | 59 |
Commercial and Industrial [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 143,869 | 151,964 |
Commercial and Industrial [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 61 | 111 |
Commercial and Industrial [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 20 | 50 |
Commercial and Industrial [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 81 | 161 |
Commercial Real Estate [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 194,637 | 190,702 |
Non-accrual | 1,099 | 62 |
Commercial Real Estate [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 194,637 | 190,702 |
Commercial Lessors of Buildings [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 96,235 | 82,687 |
Non-accrual | 13 | 15 |
Commercial Lessors of Buildings [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 96,235 | 82,687 |
Construction [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 55,275 | 49,214 |
Construction [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 55,275 | 49,214 |
Consumer Mortgage [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 171,198 | 166,891 |
Non-accrual | 122 | 172 |
Consumer Mortgage [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 169,824 | 166,411 |
Consumer Mortgage [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,286 | 307 |
Consumer Mortgage [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 88 | 173 |
Consumer Mortgage [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 1,374 | 480 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 44,331 | 43,269 |
Home Equity Line of Credit [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 44,132 | 42,955 |
Home Equity Line of Credit [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 93 | 33 |
Home Equity Line of Credit [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 72 | 281 |
Home Equity Line of Credit [Member] | 90 Days Plus Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 34 | |
Home Equity Line of Credit [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 199 | 314 |
Consumer Installment [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 10,646 | 10,636 |
Non-accrual | 14 | 49 |
Consumer Installment [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 10,620 | 10,602 |
Consumer Installment [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 17 | 25 |
Consumer Installment [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 9 | 9 |
Consumer Installment [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 26 | 34 |
Consumer Indirect [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 5,734 | 5,957 |
Non-accrual | 111 | 39 |
Consumer Indirect [Member] | Current | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 5,682 | 5,821 |
Consumer Indirect [Member] | 30 to 59 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 52 | 52 |
Consumer Indirect [Member] | 60 to 89 Days Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | 84 | |
Consumer Indirect [Member] | Total Past Due [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Loans | $ 52 | $ 136 |
Loans - Schedule of Collateral
Loans - Schedule of Collateral Dependent Loans (Detail) $ in Thousands | Jun. 30, 2024 USD ($) |
Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Total collateral dependent loans | $ 1,099 |
Real Estate [Member] | Commercial Real Estate [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Total collateral dependent loans | 1,099 |
Blanket Liens [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Total collateral dependent loans | 5,251 |
Blanket Liens [Member] | Commercial and Industrial [Member] | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |
Total collateral dependent loans | $ 5,251 |
Loans - Schedule of Amortized C
Loans - Schedule of Amortized Cost Basis Of Loans On Nonaccrual Status And Loans Past Due Over 90 Days Still Accruing Interest (Details) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | $ 299 | $ 396 |
Nonaccrual with ACL | 6,350 | |
Total Nonaccrual | 6,649 | 396 |
Loans Past Due 90 Days or More Still Accruing | 34 | |
Total Nonperforming | 6,683 | 396 |
Commercial and Industrial [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | 39 | 59 |
Nonaccrual with ACL | 5,251 | |
Total Nonaccrual | 5,290 | 59 |
Total Nonperforming | 5,290 | 59 |
Commercial Real Estate [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | 62 | |
Nonaccrual with ACL | 1,099 | |
Total Nonaccrual | 1,099 | 62 |
Total Nonperforming | 1,099 | 62 |
Commercial Lessors of Buildings [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | 13 | 15 |
Total Nonaccrual | 13 | 15 |
Total Nonperforming | 13 | 15 |
Consumer Mortgage [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | 122 | 172 |
Total Nonaccrual | 122 | 172 |
Total Nonperforming | 122 | 172 |
Home Equity Line of Credit [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Loans Past Due 90 Days or More Still Accruing | 34 | |
Total Nonperforming | 34 | |
Consumer Installment [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | 14 | 49 |
Total Nonaccrual | 14 | 49 |
Total Nonperforming | 14 | 49 |
Consumer Indirect [Member] | ||
Financing Receivable, Nonaccrual [Line Items] | ||
Nonaccrual with no ACL | 111 | 39 |
Total Nonaccrual | 111 | 39 |
Total Nonperforming | $ 111 | $ 39 |
Loans - Schedule of the Credit
Loans - Schedule of the Credit Quality Indicators Recorded Investment in Non-homogeneous Loans by Internal Risk Rating System (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Financing Receivable, Recorded Investment [Line Items] | |||||
YTD gross charge-offs | $ 274 | $ 15 | $ 362 | $ 54 | |
Total | 722,006 | 722,006 | $ 701,481 | ||
Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 37,608 | 37,608 | 98,964 | ||
2023 | 108,407 | 108,407 | 107,576 | ||
2022 | 100,060 | 100,060 | 89,510 | ||
2021 | 79,852 | 79,852 | 29,341 | ||
2020 | 25,828 | 25,828 | 31,018 | ||
Prior | 75,007 | 75,007 | 51,578 | ||
Fiscal year before latest fiscal year, YTD gross charge-offs | 246 | ||||
Three years before latest fiscal year, YTD gross charge-offs | 22 | ||||
YTD gross charge-offs | 268 | ||||
Revolving Loans Amortized Cost Basis | 56,698 | 56,698 | 58,932 | ||
Total | 483,460 | 483,460 | 466,919 | ||
Pass [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 37,197 | 37,197 | 96,715 | ||
2023 | 105,527 | 105,527 | 102,309 | ||
2022 | 94,841 | 94,841 | 83,057 | ||
2021 | 75,300 | 75,300 | 24,141 | ||
2020 | 22,185 | 22,185 | 26,755 | ||
Prior | 62,559 | 62,559 | 38,240 | ||
Revolving Loans Amortized Cost Basis | 46,024 | 46,024 | 46,430 | ||
Total | 443,633 | 443,633 | 417,647 | ||
Special Mention [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 63 | 63 | 317 | ||
2023 | 295 | 295 | 2,299 | ||
2022 | 1,646 | 1,646 | 4,544 | ||
2021 | 3,381 | 3,381 | 3,164 | ||
2020 | 2,346 | 2,346 | 3,611 | ||
Prior | 510 | 510 | 387 | ||
Revolving Loans Amortized Cost Basis | 2,322 | 2,322 | 3,872 | ||
Total | 10,563 | 10,563 | 18,194 | ||
Substandard [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 348 | 348 | 1,932 | ||
2023 | 2,585 | 2,585 | 2,968 | ||
2022 | 3,573 | 3,573 | 1,909 | ||
2021 | 1,171 | 1,171 | 2,036 | ||
2020 | 1,297 | 1,297 | 652 | ||
Prior | 11,938 | 11,938 | 12,951 | ||
Revolving Loans Amortized Cost Basis | 8,352 | 8,352 | 8,630 | ||
Total | 29,264 | 29,264 | 31,078 | ||
Commercial and Industrial [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
YTD gross charge-offs | 257 | 268 | |||
Total | 143,950 | 143,950 | 152,125 | ||
Commercial and Industrial [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 8,420 | 8,420 | 32,895 | ||
2023 | 31,854 | 31,854 | 29,189 | ||
2022 | 25,073 | 25,073 | 13,739 | ||
2021 | 10,786 | 10,786 | 6,257 | ||
2020 | 4,620 | 4,620 | 3,527 | ||
Prior | 9,064 | 9,064 | 8,593 | ||
Fiscal year before latest fiscal year, YTD gross charge-offs | 246 | ||||
Three years before latest fiscal year, YTD gross charge-offs | 22 | ||||
YTD gross charge-offs | 268 | ||||
Revolving Loans Amortized Cost Basis | 54,133 | 54,133 | 57,925 | ||
Total | 143,950 | 143,950 | 152,125 | ||
Commercial and Industrial [Member] | Pass [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 8,357 | 8,357 | 32,037 | ||
2023 | 30,310 | 30,310 | 25,996 | ||
2022 | 21,888 | 21,888 | 12,196 | ||
2021 | 9,692 | 9,692 | 5,207 | ||
2020 | 4,015 | 4,015 | 3,388 | ||
Prior | 8,008 | 8,008 | 7,112 | ||
Revolving Loans Amortized Cost Basis | 43,459 | 43,459 | 45,423 | ||
Total | 125,729 | 125,729 | 131,359 | ||
Commercial and Industrial [Member] | Special Mention [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 63 | 63 | 76 | ||
2023 | 58 | 58 | 225 | ||
2022 | 179 | 179 | 522 | ||
2021 | 156 | 156 | 33 | ||
2020 | 277 | 277 | 33 | ||
Prior | 65 | ||||
Revolving Loans Amortized Cost Basis | 2,322 | 2,322 | 3,872 | ||
Total | 3,055 | 3,055 | 4,826 | ||
Commercial and Industrial [Member] | Substandard [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 782 | ||||
2023 | 1,486 | 1,486 | 2,968 | ||
2022 | 3,006 | 3,006 | 1,021 | ||
2021 | 938 | 938 | 1,017 | ||
2020 | 328 | 328 | 106 | ||
Prior | 1,056 | 1,056 | 1,416 | ||
Revolving Loans Amortized Cost Basis | 8,352 | 8,352 | 8,630 | ||
Total | 15,166 | 15,166 | 15,940 | ||
Commercial Real Estate [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total | 194,637 | 194,637 | 190,702 | ||
Commercial Real Estate [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 7,141 | 7,141 | 23,597 | ||
2023 | 25,023 | 25,023 | 40,076 | ||
2022 | 42,463 | 42,463 | 58,010 | ||
2021 | 52,234 | 52,234 | 14,729 | ||
2020 | 16,114 | 16,114 | 20,009 | ||
Prior | 50,840 | 50,840 | 33,634 | ||
Revolving Loans Amortized Cost Basis | 822 | 822 | 647 | ||
Total | 194,637 | 194,637 | 190,702 | ||
Commercial Real Estate [Member] | Pass [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 6,793 | 6,793 | 22,206 | ||
2023 | 23,687 | 23,687 | 38,696 | ||
2022 | 40,996 | 40,996 | 54,830 | ||
2021 | 49,193 | 49,193 | 12,233 | ||
2020 | 14,045 | 14,045 | 19,543 | ||
Prior | 39,537 | 39,537 | 21,938 | ||
Revolving Loans Amortized Cost Basis | 822 | 822 | 647 | ||
Total | 175,073 | 175,073 | 170,093 | ||
Commercial Real Estate [Member] | Special Mention [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 241 | ||||
2023 | 237 | 237 | 1,380 | ||
2022 | 1,467 | 1,467 | 2,292 | ||
2021 | 3,041 | 3,041 | 2,496 | ||
2020 | 2,069 | 2,069 | |||
Prior | 510 | 510 | 322 | ||
Total | 7,324 | 7,324 | 6,731 | ||
Commercial Real Estate [Member] | Substandard [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 348 | 348 | 1,150 | ||
2023 | 1,099 | 1,099 | |||
2022 | 888 | ||||
2020 | 466 | ||||
Prior | 10,793 | 10,793 | 11,374 | ||
Total | 12,240 | 12,240 | 13,878 | ||
Commercial Lessors of Buildings [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
Total | 96,235 | 96,235 | 82,687 | ||
Commercial Lessors of Buildings [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 17,262 | 17,262 | 18,353 | ||
2023 | 21,112 | 21,112 | 23,198 | ||
2022 | 22,598 | 22,598 | 17,142 | ||
2021 | 16,072 | 16,072 | 7,418 | ||
2020 | 4,243 | 4,243 | 7,121 | ||
Prior | 14,557 | 14,557 | 9,095 | ||
Revolving Loans Amortized Cost Basis | 391 | 391 | 360 | ||
Total | 96,235 | 96,235 | 82,687 | ||
Commercial Lessors of Buildings [Member] | Pass [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 17,262 | 17,262 | 18,353 | ||
2023 | 21,112 | 21,112 | 22,762 | ||
2022 | 22,031 | 22,031 | 15,455 | ||
2021 | 15,655 | 15,655 | 6,429 | ||
2020 | 3,274 | 3,274 | 3,543 | ||
Prior | 14,544 | 14,544 | 8,934 | ||
Revolving Loans Amortized Cost Basis | 391 | 391 | 360 | ||
Total | 94,269 | 94,269 | 75,836 | ||
Commercial Lessors of Buildings [Member] | Special Mention [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2023 | 436 | ||||
2022 | 1,687 | ||||
2021 | 184 | 184 | |||
2020 | 3,578 | ||||
Total | 184 | 184 | 5,701 | ||
Commercial Lessors of Buildings [Member] | Substandard [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2022 | 567 | 567 | |||
2021 | 233 | 233 | 989 | ||
2020 | 969 | 969 | |||
Prior | 13 | 13 | 161 | ||
Total | 1,782 | 1,782 | 1,150 | ||
Commercial construction [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 4,785 | 4,785 | 24,119 | ||
2023 | 30,418 | 30,418 | 15,113 | ||
2022 | 9,926 | 9,926 | 619 | ||
2021 | 760 | 760 | 937 | ||
2020 | 851 | 851 | 361 | ||
Prior | 546 | 546 | 256 | ||
Revolving Loans Amortized Cost Basis | 1,352 | 1,352 | |||
Total | 48,638 | 48,638 | 41,405 | ||
Commercial construction [Member] | Pass [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2024 | 4,785 | 4,785 | 24,119 | ||
2023 | 30,418 | 30,418 | 14,855 | ||
2022 | 9,926 | 9,926 | 576 | ||
2021 | 760 | 760 | 272 | ||
2020 | 851 | 851 | 281 | ||
Prior | 470 | 470 | 256 | ||
Revolving Loans Amortized Cost Basis | 1,352 | 1,352 | |||
Total | 48,562 | 48,562 | 40,359 | ||
Commercial construction [Member] | Special Mention [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2023 | 258 | ||||
2022 | 43 | ||||
2021 | 635 | ||||
Total | 936 | ||||
Commercial construction [Member] | Substandard [Member] | Non-Homogeneous Loans [Member] | |||||
Financing Receivable, Recorded Investment [Line Items] | |||||
2021 | 30 | ||||
2020 | 80 | ||||
Prior | 76 | 76 | |||
Total | $ 76 | $ 76 | $ 110 |
Loans - Schedule of the Credi_2
Loans - Schedule of the Credit Quality Indicators Amortized Cost in Residential Consumer Loans Based on Payment Activity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | Dec. 31, 2023 | |
Financing Receivable Recorded Investment [Line Items] | |||||
YTD gross charge-offs | $ 274 | $ 15 | $ 362 | $ 54 | |
Total | 722,006 | 722,006 | $ 701,481 | ||
Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 13,300 | 13,300 | 36,547 | ||
2023 | 36,141 | 36,141 | 40,431 | ||
2022 | 37,854 | 37,854 | 37,669 | ||
2021 | 35,748 | 35,748 | 33,823 | ||
2020 | 31,796 | 31,796 | 9,818 | ||
Prior | 39,309 | 39,309 | 32,937 | ||
Revolving Loans Amortized Cost Basis | 44,358 | 44,358 | 43,291 | ||
Revolving Loans Converted to Term | 40 | 40 | 46 | ||
Total | 238,546 | 238,546 | 234,562 | ||
Performing [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 13,300 | 13,300 | 36,547 | ||
2023 | 36,112 | 36,112 | 40,428 | ||
2022 | 37,854 | 37,854 | 37,669 | ||
2021 | 35,748 | 35,748 | 33,823 | ||
2020 | 31,796 | 31,796 | 9,737 | ||
Prior | 39,091 | 39,091 | 32,761 | ||
Revolving Loans Amortized Cost Basis | 44,324 | 44,324 | 43,291 | ||
Revolving Loans Converted to Term | 40 | 40 | 46 | ||
Total | 238,265 | 238,265 | 234,302 | ||
Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2023 | 29 | 29 | 3 | ||
2020 | 81 | ||||
Prior | 218 | 218 | 176 | ||
Revolving Loans Amortized Cost Basis | 34 | 34 | |||
Total | 281 | 281 | 260 | ||
Consumer Mortgage [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Total | 171,198 | 171,198 | 166,891 | ||
Consumer Mortgage [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 8,086 | 8,086 | 24,521 | ||
2023 | 27,855 | 27,855 | 34,798 | ||
2022 | 33,551 | 33,551 | 35,802 | ||
2021 | 34,420 | 34,420 | 32,259 | ||
2020 | 30,606 | 30,606 | 8,931 | ||
Prior | 36,680 | 36,680 | 30,580 | ||
Total | 171,198 | 171,198 | 166,891 | ||
Consumer Mortgage [Member] | Performing [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 8,086 | 8,086 | 24,521 | ||
2023 | 27,855 | 27,855 | 34,798 | ||
2022 | 33,551 | 33,551 | 35,802 | ||
2021 | 34,420 | 34,420 | 32,259 | ||
2020 | 30,606 | 30,606 | 8,931 | ||
Prior | 36,558 | 36,558 | 30,408 | ||
Total | 171,076 | 171,076 | 166,719 | ||
Consumer Mortgage [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Prior | 122 | 122 | 172 | ||
Total | 122 | 122 | 172 | ||
Commercial construction [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 1,884 | 1,884 | 5,463 | ||
2023 | 3,142 | 3,142 | 1,477 | ||
2022 | 1,076 | 1,076 | 264 | ||
2021 | 168 | 168 | 483 | ||
2020 | 324 | 324 | 81 | ||
Prior | 43 | 43 | 41 | ||
Total | 6,637 | 6,637 | 7,809 | ||
Commercial construction [Member] | Performing [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 1,884 | 1,884 | 5,463 | ||
2023 | 3,142 | 3,142 | 1,477 | ||
2022 | 1,076 | 1,076 | 264 | ||
2021 | 168 | 168 | 483 | ||
2020 | 324 | 324 | 81 | ||
Prior | 43 | 43 | 41 | ||
Total | 6,637 | 6,637 | 7,809 | ||
Home Equity Line of Credit [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Total | 44,331 | 44,331 | 43,269 | ||
Home Equity Line of Credit [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Revolving Loans Amortized Cost Basis | 44,291 | 44,291 | 43,223 | ||
Revolving Loans Converted to Term | 40 | 40 | 46 | ||
Total | 44,331 | 44,331 | 43,269 | ||
Home Equity Line of Credit [Member] | Performing [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Revolving Loans Amortized Cost Basis | 44,257 | 44,257 | 43,223 | ||
Revolving Loans Converted to Term | 40 | 40 | 46 | ||
Total | 44,297 | 44,297 | 43,269 | ||
Home Equity Line of Credit [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Revolving Loans Amortized Cost Basis | 34 | 34 | |||
Total | 34 | 34 | |||
Consumer Installment [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
YTD gross charge-offs | 17 | $ 15 | 35 | 23 | |
Total | 10,646 | 10,646 | 10,636 | ||
Consumer Installment [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 2,785 | 2,785 | 5,705 | ||
2023 | 4,407 | 4,407 | 3,067 | ||
2022 | 2,216 | 2,216 | 981 | ||
2021 | 623 | 623 | 513 | ||
2020 | 336 | 336 | 118 | ||
Prior | 212 | 212 | 184 | ||
Current fiscal year, YTD gross charge-offs | 2 | ||||
Fiscal year before latest fiscal year, YTD gross charge-offs | 12 | 12 | |||
Two years before latest fiscal year, YTD gross charge-offs | 15 | 19 | |||
Three years before latest fiscal year, YTD gross charge-offs | 2 | 5 | |||
Four years before latest fiscal year, YTD gross charge-offs | 1 | 2 | |||
Prior YTD gross charge-offs | 5 | 6 | |||
YTD gross charge-offs | 35 | 46 | |||
Revolving Loans Amortized Cost Basis | 67 | 67 | 68 | ||
Total | 10,646 | 10,646 | 10,636 | ||
Consumer Installment [Member] | Performing [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 2,785 | 2,785 | 5,705 | ||
2023 | 4,400 | 4,400 | 3,067 | ||
2022 | 2,216 | 2,216 | 981 | ||
2021 | 623 | 623 | 513 | ||
2020 | 336 | 336 | 118 | ||
Prior | 205 | 205 | 184 | ||
Revolving Loans Amortized Cost Basis | 67 | 67 | 68 | ||
Total | 10,632 | 10,632 | 10,636 | ||
Consumer Installment [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2023 | 7 | 7 | |||
Prior | 7 | 7 | |||
Total | 14 | 14 | |||
Consumer Indirect [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
YTD gross charge-offs | 59 | $ 31 | |||
Total | 5,734 | 5,734 | 5,957 | ||
Consumer Indirect [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 545 | 545 | 858 | ||
2023 | 737 | 737 | 1,089 | ||
2022 | 1,011 | 1,011 | 622 | ||
2021 | 537 | 537 | 568 | ||
2020 | 530 | 530 | 688 | ||
Prior | 2,374 | 2,374 | 2,132 | ||
Prior YTD gross charge-offs | 59 | 66 | |||
YTD gross charge-offs | 59 | 66 | |||
Total | 5,734 | 5,734 | 5,957 | ||
Consumer Indirect [Member] | Performing [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2024 | 545 | 545 | 858 | ||
2023 | 715 | 715 | 1,086 | ||
2022 | 1,011 | 1,011 | 622 | ||
2021 | 537 | 537 | 568 | ||
2020 | 530 | 530 | 607 | ||
Prior | 2,285 | 2,285 | 2,128 | ||
Total | 5,623 | 5,623 | 5,869 | ||
Consumer Indirect [Member] | Nonperforming Financial Instruments [Member] | Residential Consumer Loans [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
2023 | 22 | 22 | 3 | ||
2020 | 81 | ||||
Prior | 89 | 89 | 4 | ||
Total | $ 111 | 111 | 88 | ||
Consumer [Member] | |||||
Financing Receivable Recorded Investment [Line Items] | |||||
Current fiscal year, YTD gross charge-offs | 2 | ||||
Fiscal year before latest fiscal year, YTD gross charge-offs | 12 | 12 | |||
Two years before latest fiscal year, YTD gross charge-offs | 15 | 19 | |||
Three years before latest fiscal year, YTD gross charge-offs | 2 | 5 | |||
Four years before latest fiscal year, YTD gross charge-offs | 1 | 2 | |||
Prior YTD gross charge-offs | 64 | 72 | |||
YTD gross charge-offs | $ 94 | $ 112 |
Short-Term Borrowings - Summary
Short-Term Borrowings - Summary of Repurchase Agreements and Related Collateral Accounted for as Secured Borrowings (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Short-Term Debt [Abstract] | ||
Securities of U.S. Government Agencies and mortgage-backed securities of government agencies pledged, fair value | $ 27,995 | $ 36,002 |
Repurchase agreements | $ 27,842 | $ 35,843 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Detail) - USD ($) | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value Assets Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | ||
Liabilities carried at fair value | $ 0 | $ 0 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Fair Value of Assets Measured on Recurring Basis (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | $ 127,279 | $ 140,080 |
Equity securities | 230 | 259 |
U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 10,812 | 17,689 |
U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 13,344 | 13,152 |
Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 58,827 | 65,045 |
Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 469 | 523 |
State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 16,412 | 16,586 |
Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 27,415 | 27,085 |
Fair Value, Measurements, Recurring [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 127,279 | 140,080 |
Equity securities | 184 | 213 |
Fair Value, Measurements, Recurring [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 10,812 | 17,689 |
Fair Value, Measurements, Recurring [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 13,344 | 13,152 |
Fair Value, Measurements, Recurring [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 58,827 | 65,045 |
Fair Value, Measurements, Recurring [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 469 | 523 |
Fair Value, Measurements, Recurring [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 16,412 | 16,586 |
Fair Value, Measurements, Recurring [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 27,415 | 27,085 |
Fair Value, Measurements, Recurring [Member] | Level I [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 10,812 | 17,689 |
Equity securities | 184 | 213 |
Fair Value, Measurements, Recurring [Member] | Level I [Member] | U.S. Treasury Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 10,812 | 17,689 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 116,467 | 122,391 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | U.S. Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 13,344 | 13,152 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Mortgage-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 58,827 | 65,045 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Asset-Backed Securities of Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 469 | 523 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | State and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | 16,412 | 16,586 |
Fair Value, Measurements, Recurring [Member] | Level II [Member] | Corporate Bonds [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Total available-for-sale securities | $ 27,415 | $ 27,085 |
Fair Value Measurements - Sch_2
Fair Value Measurements - Schedule of Assets Measured on Nonrecurring Basis (Detail) - Fair Value, Measurements, Nonrecurring [Member] $ in Thousands | Jun. 30, 2024 USD ($) |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Individually evaluated collateral dependent loans | $ 2,256 |
Commercial and Industrial [Member] | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Individually evaluated collateral dependent loans | 1,577 |
Commercial Real Estate [Member] | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Individually evaluated collateral dependent loans | 679 |
Level III [Member] | Commercial and Industrial [Member] | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Individually evaluated collateral dependent loans | 1,577 |
Level III [Member] | Commercial Real Estate [Member] | |
Financing Receivable, Allowance for Credit Loss [Line Items] | |
Individually evaluated collateral dependent loans | $ 679 |
Fair Values of Financial Inst_3
Fair Values of Financial Instruments - Schedule of Estimated Fair Values of Recognized Financial Instruments Carried at Amortized Cost (Detail) - USD ($) $ in Thousands | Jun. 30, 2024 | Dec. 31, 2023 |
Financial assets | ||
Securities held-to-maturity | $ 183,484 | $ 194,730 |
Loans held for sale | 228 | |
Carrying Value [Member] | ||
Financial assets | ||
Securities held-to-maturity | 216,899 | 226,279 |
Net loans | 711,329 | 694,797 |
Financial liabilities | ||
Deposits | 1,023,835 | 1,027,427 |
Other borrowings | 1,326 | 1,754 |
Carrying Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 597 | 600 |
Fair Value [Member] | ||
Financial assets | ||
Securities held-to-maturity | 183,484 | 194,730 |
Net loans | 674,962 | 663,510 |
Financial liabilities | ||
Deposits | 1,025,635 | 1,028,973 |
Other borrowings | 1,154 | 1,546 |
Fair Value [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | 597 | 600 |
Fair Value [Member] | Level I [Member] | ||
Financial assets | ||
Securities held-to-maturity | 9,545 | 9,507 |
Financial liabilities | ||
Deposits | 800,814 | 835,847 |
Fair Value [Member] | Level II [Member] | ||
Financial assets | ||
Securities held-to-maturity | 173,939 | 185,223 |
Fair Value [Member] | Level III [Member] | ||
Financial assets | ||
Net loans | 674,962 | 663,510 |
Financial liabilities | ||
Deposits | 224,821 | 193,126 |
Other borrowings | 1,154 | 1,546 |
Fair Value [Member] | Level III [Member] | Mortgage Servicing Rights [Member] | ||
Financial assets | ||
Mortgage servicing rights | $ 597 | $ 600 |
Fair Values of Financial Inst_4
Fair Values of Financial Instruments - Additional Information (Detail) - USD ($) $ in Millions | Jun. 30, 2024 | Dec. 31, 2023 |
Fair Value Disclosures [Abstract] | ||
Commitments to extend credit and letters of credit | $ 292 | $ 282 |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive Loss - Schedule of Changes in Accumulated Other Comprehensive Loss by Component Net of Tax (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2024 | Jun. 30, 2023 | Jun. 30, 2024 | Jun. 30, 2023 | |
Accumulated Other Comprehensive Loss [Line Items] | ||||
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Pretax | $ 291 | $ (1,923) | $ 147 | $ (596) |
Beginning balance, After-tax | (10,270) | |||
Other comprehensive income (loss) | 266 | (1,481) | 185 | (397) |
Ending Balance, After-tax | (10,085) | (10,085) | ||
Accumulated Net Unrealized Investment Gain (Loss) [Member] | ||||
Accumulated Other Comprehensive Loss [Line Items] | ||||
Beginning balance, Pretax | (13,102) | (14,981) | (12,999) | (16,354) |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Pretax | 291 | (1,923) | 147 | (596) |
Amortization of held-to-maturity discount resulting from transfer, Pretax | 46 | 48 | 87 | 94 |
Total other comprehensive income (loss), Pretax | 337 | (1,875) | 234 | (502) |
Ending balance, Pretax | (12,765) | (16,856) | (12,765) | (16,856) |
Beginning balance, Tax Effect | 2,751 | 3,146 | 2,729 | 3,435 |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, Tax Effect | (61) | 404 | (31) | 125 |
Amortization of held-to-maturity discount resulting from transfer, Tax Effect | (10) | (10) | (18) | (20) |
Total other comprehensive income (loss), Tax Effect | (71) | 394 | (49) | 105 |
Ending Balance, Tax Effect | 2,680 | 3,540 | 2,680 | 3,540 |
Beginning balance, After-tax | (10,351) | (11,835) | (10,270) | (12,919) |
Unrealized holding gain (loss) on available-for-sale securities arising during the period, After-Tax | 230 | (1,519) | 116 | (471) |
Amortization of held-to-maturity discount resulting from transfer, After-tax | 36 | 38 | 69 | 74 |
Other comprehensive income (loss) | 266 | (1,481) | 185 | (397) |
Ending Balance, After-tax | $ (10,085) | $ (13,316) | $ (10,085) | $ (13,316) |