Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 02, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 0-20146 | |
Entity Registrant Name | EAGLE FINANCIAL SERVICES, INC. | |
Entity Central Index Key | 0000880641 | |
Current Fiscal Year End Date | --12-31 | |
Document Period End Date | Sep. 30, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false | |
Entity Incorporation, State or Country Code | VA | |
Entity Tax Identification Number | 54-1601306 | |
Entity Address, Address Line One | 2 East Main Street | |
Entity Address, City or Town | Berryville | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 22611 | |
City Area Code | (540) | |
Local Phone Number | 955-2510 | |
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 Common Stock, Shares Outstanding | 3,520,894 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Assets | ||
Cash and due from banks | $ 14,154 | $ 16,629 |
Interest-bearing deposits with other institutions | 49,085 | 49,902 |
Federal funds sold | 78,799 | 363 |
Total cash and cash equivalents | 142,038 | 66,894 |
Securities available for sale,at fair value, amortized cost of $163,806 and $175,059, respectively | 133,976 | 149,156 |
Restricted investments, at cost | 8,583 | 9,233 |
Loans held for sale | 3,564 | 153 |
Loans | 1,440,985 | 1,323,783 |
Allowance for credit losses | (14,573) | (11,218) |
Net Loans | 1,426,412 | 1,312,565 |
Bank premises and equipment, net | 18,421 | 18,064 |
Other real estate owned, net of allowance | 0 | 108 |
Bank owned life insurance | 24,404 | 23,862 |
Other assets | 44,072 | 36,682 |
Total assets | 1,801,470 | 1,616,717 |
Deposits: | ||
Noninterest bearing demand deposits | 430,910 | 478,750 |
Savings and interest bearing demand deposits | 656,111 | 627,431 |
Time deposits | 411,359 | 157,894 |
Total deposits | 1,498,380 | 1,264,075 |
Federal funds purchased | 0 | 32,980 |
Federal Home Loan Bank advances, short-term | 0 | 175,000 |
Federal Home Loan Bank advances, long-term | 145,000 | 0 |
Subordinated debt, net of unamortized issuance costs | 29,428 | 29,377 |
Other liabilities | 27,479 | 13,556 |
Total liabilities | 1,700,287 | 1,514,988 |
Commitments and contingencies | ||
Shareholders’ Equity | ||
Preferred stock, $10 par value; 500,000 shares authorized and unissued | 0 | 0 |
Common stock, $2.50 par value; authorized 10,000,000 shares; issued and outstanding 2023, 3,520,894 including 57,014 shares of unvested restricted stock; issued and outstanding 2022, 3,490,171 including 38,780 shares of unvested restricted stock | 8,660 | 8,629 |
Surplus | 13,970 | 13,268 |
Retained earnings | 102,106 | 100,278 |
Accumulated other comprehensive (loss) | (23,553) | (20,446) |
Total shareholders’ equity | 101,183 | 101,729 |
Total liabilities and shareholders’ equity | $ 1,801,470 | $ 1,616,717 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Preferred stock, par value | $ 10 | $ 10 |
Preferred stock, shares authorized | 500,000 | 500,000 |
Common stock, par value | $ 2.5 | $ 2.5 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 3,520,894 | 3,490,171 |
Common stock, shares, outstanding | 3,520,894 | 3,490,171 |
Common stock, unvested restricted shares | 57,014 | 38,780 |
Securities available for sale | $ 163,806 | $ 175,059 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest and Dividend Income | ||||
Interest and fees on loans | $ 20,179 | $ 13,282 | $ 56,100 | $ 35,565 |
Interest and dividends on securities available for sale: | ||||
Taxable interest income | 781 | 851 | 2,370 | 2,477 |
Interest income exempt from federal income taxes | 3 | 59 | 12 | 217 |
Dividends | 147 | 22 | 366 | 49 |
Interest on deposits in banks | 1,030 | 143 | 2,176 | 199 |
Interest on federal funds sold | 51 | 9 | 89 | 15 |
Total interest and dividend income | 22,191 | 14,366 | 61,113 | 38,522 |
Interest Expense | ||||
Interest on deposits | 6,978 | 714 | 15,972 | 1,467 |
Interest on federal funds purchased | 0 | 11 | 70 | 19 |
Interest on Federal Home Loan Bank advances | 1,943 | 404 | 6,006 | 404 |
Interest on subordinated debt | 354 | 338 | 1,063 | 675 |
Total interest expense | 9,275 | 1,467 | 23,111 | 2,565 |
Net Interest Income (Expense) | 12,916 | 12,899 | 38,002 | 35,957 |
Provision for credit losses | 216 | 0 | 1,283 | 900 |
Net interest income after provision for credit losses | 12,700 | 12,899 | 36,719 | 35,057 |
Noninterest Income | ||||
Wealth management fees | 1,190 | 1,094 | 3,611 | 3,077 |
Service charges on deposit accounts | 460 | 432 | 1,343 | 1,195 |
Other service charges and fees | 1,252 | 1,061 | 3,434 | 2,999 |
Gain on the sale of marine finance assets | 463 | 0 | 463 | 0 |
Gain (loss) on the sale of bank premises and equipment | 7 | 8 | 14 | (3) |
(Loss) on sale of securities | 0 | (737) | 0 | (737) |
Gain on sale of loans | 265 | 568 | 913 | 1,544 |
Bank owned life insurance income | 184 | 138 | 542 | 495 |
Other operating income | 388 | 600 | 772 | 1,686 |
Total noninterest income | 4,209 | 3,164 | 11,092 | 10,256 |
Noninterest Expenses | ||||
Salaries and employee benefits | 7,598 | 6,938 | 22,457 | 18,873 |
Occupancy expenses | 570 | 528 | 1,621 | 1,562 |
Equipment expenses | 341 | 299 | 979 | 814 |
Advertising and marketing expenses | 228 | 181 | 866 | 438 |
Stationery and supplies | 69 | 34 | 147 | 135 |
ATM network fees | 426 | 381 | 1,142 | 977 |
Other real estate owned expense | 0 | 0 | 5 | 0 |
(Gain) on other real estate owned | 0 | 0 | (7) | 0 |
FDIC assessment | 495 | 116 | 1,107 | 430 |
Computer software expense | 396 | 252 | 987 | 690 |
Bank franchise tax | 340 | 234 | 916 | 653 |
Professional fees | 497 | 270 | 1,963 | 1,610 |
Data processing fees | 542 | 427 | 1,422 | 1,386 |
Other operating expenses | 2,631 | 1,398 | 5,869 | 3,941 |
Total noninterest expenses | 14,133 | 11,058 | 39,474 | 31,509 |
Income before income taxes | 2,776 | 5,005 | 8,337 | 13,804 |
Income tax expense (benefit) | 457 | 923 | 1,375 | 2,480 |
Net income | $ 2,319 | $ 4,082 | $ 6,962 | $ 11,324 |
Earnings Per Share | ||||
Net income per common share, basic | $ 0.66 | $ 1.17 | $ 1.98 | $ 3.25 |
Net income per common share, diluted | $ 0.66 | $ 1.17 | $ 1.98 | $ 3.25 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Net income | $ 2,319 | $ 4,082 | $ 6,962 | $ 11,324 |
Other comprehensive (loss): | ||||
Unrealized (loss) on available for sale securities net of reclassification adjustments, and net of deferred income tax of $(1,100) and $(1,189) for the three months ended and $(825) and ($5,603) for the nine months ended, respectively | (4,137) | (4,475) | (3,102) | (21,076) |
Changes in benefit obligations and plan assets for post retirement benefit plans, net of reclassification adjustments, net of deferred income tax of $0 and $0 for the three months ended and $(3) and $0 for the nine months ended , respectively | 0 | 0 | (5) | 0 |
Total other comprehensive (loss) | (4,137) | (4,475) | (3,107) | (21,076) |
Total comprehensive income (loss | $ (1,818) | $ (393) | $ 3,855 | $ (9,752) |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Loss) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statement of Comprehensive Income [Abstract] | ||||
Unrealized (loss) on available for sale securities, deferred income tax | $ (1,100) | $ (1,189) | $ (825) | $ (5,603) |
Changes in benefit obligations and plan assets for post retirement benefit plans, deferred income taxes | $ 0 | $ 0 | $ (3) | $ 0 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
Starting Balance at Dec. 31, 2021 | $ 110,280 | $ 8,556 | $ 12,115 | $ 89,764 | $ (155) | |
Net income | 3,250 | 3,250 | ||||
Other comprehensive income (loss) | (10,628) | (10,628) | ||||
Vesting of restricted stock awards, stock incentive plan | 31 | (31) | ||||
Stock-based compensation expense | 195 | 195 | ||||
Issuance of common stock, dividend investment plan | 97 | 7 | 90 | |||
Repurchase and retirement of common stock | (117) | (8) | (109) | |||
Dividends declared | (974) | (974) | ||||
End Balance at Mar. 31, 2022 | 102,103 | 8,586 | 12,260 | 92,040 | (10,783) | |
Starting Balance at Dec. 31, 2021 | 110,280 | 8,556 | 12,115 | 89,764 | (155) | |
Net income | 11,324 | |||||
Other comprehensive income (loss) | (21,076) | |||||
End Balance at Sep. 30, 2022 | 98,500 | 8,600 | 13,003 | 98,128 | (21,231) | |
Starting Balance at Mar. 31, 2022 | 102,103 | 8,586 | 12,260 | 92,040 | (10,783) | |
Net income | 3,992 | 3,992 | ||||
Other comprehensive income (loss) | (5,973) | (5,973) | ||||
Stock-based compensation expense | 222 | 222 | ||||
Issuance of common stock, employee benefit plan | 120 | 8 | 112 | |||
Dividends declared | (974) | (974) | ||||
End Balance at Jun. 30, 2022 | 99,490 | 8,594 | 12,594 | 95,058 | (16,756) | |
Net income | 4,082 | 4,082 | ||||
Other comprehensive income (loss) | (4,475) | (4,475) | ||||
Stock-based compensation expense | 329 | 329 | ||||
Issuance of common stock, dividend investment plan | 101 | 7 | 94 | |||
Issuance of common stock, employee benefit plan | 22 | 2 | 20 | |||
Repurchase and retirement of common stock | (37) | (3) | (34) | |||
Dividends declared | (1,012) | (1,012) | ||||
End Balance at Sep. 30, 2022 | 98,500 | 8,600 | 13,003 | 98,128 | (21,231) | |
Starting Balance at Dec. 31, 2022 | 101,729 | 8,629 | 13,268 | 100,278 | (20,446) | |
Cumulative effect adjustment for CECL | (1,961) | $ (1,961) | ||||
Net income | 2,585 | 2,585 | ||||
Other comprehensive income (loss) | 2,975 | 2,975 | ||||
Vesting of restricted stock awards, stock incentive plan | 31 | (31) | ||||
Stock-based compensation expense | 317 | 317 | ||||
Repurchase and retirement of common stock | (128) | (9) | (119) | |||
Dividends declared | (1,057) | (1,057) | ||||
End Balance at Mar. 31, 2023 | 104,460 | 8,651 | 13,435 | 99,845 | (17,471) | |
Starting Balance at Dec. 31, 2022 | 101,729 | 8,629 | 13,268 | 100,278 | (20,446) | |
Net income | 6,962 | |||||
Other comprehensive income (loss) | (3,107) | |||||
End Balance at Sep. 30, 2023 | 101,183 | 8,660 | 13,970 | 102,106 | (23,553) | |
Starting Balance at Mar. 31, 2023 | 104,460 | 8,651 | 13,435 | 99,845 | (17,471) | |
Net income | 2,058 | 2,058 | ||||
Other comprehensive income (loss) | (1,945) | (1,945) | ||||
Stock-based compensation expense | 323 | 323 | ||||
Issuance of common stock, employee benefit plan | 133 | 10 | 123 | |||
Dividends declared | (1,059) | (1,059) | ||||
End Balance at Jun. 30, 2023 | 103,970 | 8,661 | 13,881 | 100,844 | (19,416) | |
Net income | 2,319 | 2,319 | ||||
Other comprehensive income (loss) | (4,137) | (4,137) | ||||
Vesting of restricted stock awards, stock incentive plan | 11 | (11) | ||||
Stock-based compensation expense | 263 | 263 | ||||
Repurchase and retirement of common stock | (175) | (12) | (163) | |||
Dividends declared | (1,057) | (1,057) | ||||
End Balance at Sep. 30, 2023 | $ 101,183 | $ 8,660 | $ 13,970 | $ 102,106 | $ (23,553) |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||||||
Issuance of restricted stock, stock incentive plan, shares | 4,553 | 12,749 | 12,468 | |||
Issuance of common stock, dividend investment plan, shares | 2,800 | 2,782 | ||||
Issuance of common stock, employee benefit plan, shares | 3,803 | 614 | 3,451 | |||
Shares repurchase and retired | 4,941 | 3,590 | 1,031 | 3,411 | ||
Dividends declared, per share | $ 0.3 | $ 0.3 | $ 0.3 | $ 0.29 | $ 0.28 | $ 0.28 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Cash Flows from Operating Activities | ||
Net income | $ 6,962 | $ 11,324 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 745 | 734 |
Amortization of other assets | 613 | 525 |
Origination of loans held for sale | (27,627) | (13,244) |
Proceeds from sale of loans held for sale | 24,805 | 14,515 |
Net (gains) on sales of loans | (913) | (1,544) |
Provision for credit losses | 1,283 | 900 |
(Gain) on other real estate owned | (7) | 0 |
(Gain) on the sale of marine finance assets | (463) | 0 |
(Gain) loss on the sale and disposal of premises and equipment | (14) | 3 |
Loss on the sale of securities | 0 | 737 |
Amortization of subordinated debt issuance costs | 51 | 33 |
Stock-based compensation expense | 903 | 746 |
Premium amortization on securities, net | 266 | 460 |
Bank owned life insurance income | (542) | (495) |
Changes in assets and liabilities: | ||
(Increase) in other assets | (5,472) | (10,691) |
Increase in other liabilities | 12,297 | 1,108 |
Net cash provided by operating activities | 12,887 | 5,111 |
Cash Flows from Investing Activities | ||
Proceeds from maturities, calls, and principal payments of securities available for sale | 10,987 | 24,135 |
Proceeds from the sale of securities available for sale | 0 | 10,813 |
Purchases of securities available for sale | 0 | (26,813) |
Proceeds from the sale of restricted investments | 4,975 | 0 |
Purchases of restricted investments | (4,326) | (3,559) |
Purchases of bank premises and equipment | (1,127) | (493) |
Proceeds from the sale of bank premises and equipment | 39 | 33 |
Proceeds from the sale of other real estate owned | 115 | 0 |
Changes in collateral posted with other financial institutions, net | 0 | (700) |
Proceeds from sale of marine finance business | 53,537 | 0 |
Proceeds from sales of loans | 49,325 | 97,814 |
Origination of loans net of principal collected | (218,755) | (312,421) |
Funding of capital commitments related to other investments | (495) | (485) |
Net cash (used in) investing activities | (105,725) | (211,676) |
Cash Flows from Financing Activities | ||
Net (decrease) increase in noninterest bearing demand deposits, savings, and interest bearing demand deposits | (19,160) | 69,614 |
Net increase in time deposits | 253,465 | 7,265 |
Net (decrease) in federal funds purchased | (32,980) | 0 |
Net (decrease) in short-term Federal Home Loan Bank advances | (175,000) | 75,000 |
Advances of long-term Federal Home Loan Bank advances | 145,000 | 0 |
Issuance of subordinated debt, net of issuance costs | 0 | 29,327 |
Issuance of common stock employees benefit plan | 133 | 142 |
Repurchase and retirement of common stock | (303) | (154) |
Cash dividends paid | (3,173) | (2,762) |
Net cash provided by financing activities | 167,982 | 178,432 |
Increase (decrease) in cash and cash equivalents | 75,144 | (28,133) |
Cash and Cash Equivalents | ||
Beginning | 66,894 | 64,068 |
Ending | 142,038 | 35,935 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 22,016 | 1,436 |
Income taxes | 1,706 | 2,541 |
Supplemental Schedule of Noncash Investing and Financing Activities: | ||
Unrealized (loss) on securities available for sale | (3,927) | (26,679) |
Minimum postretirement liability adjustment | (8) | 0 |
Repossessed assets acquired in settlement of loans | 304 | 0 |
Issuance of common stock, dividend investment plan | 0 | 198 |
Sales of securities available for sale settled subsequent to quarter end | $ 0 | $ 4,557 |
General
General | 9 Months Ended |
Sep. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
General | NOTE 1. General The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP. In the opinion of management, the accompanying financial statements contain all adjustments (consisting of only normal recurring accruals) necessary to present fairly the financial position at September 30, 2023 and December 31, 2022, the results of operations and the changes in shareholders' equity for the three and nine months ended September 30, 2023 and 2022, and cash flows for the nine months ended September 30, 2023 and 2022. The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results to be expected for the full year. These financial statements should be read in conjunction with the Consolidated Financial Statements and related Notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022 (the “2022 Form 10-K”). Eagle Financial Services, Inc. (the "Company") owns 100 % of Bank of Clarke (the “Bank”). The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiary. All significant intercompany accounts and t ransactions between the Company and the Bank have been eliminated. Certain amounts in the consolidated financial statements have been reclassified to conform to current year presentations. None of the reclassifications were of a material nature and they had no effect on prior year net income or shareholders' equity. On January 1, 2023, the Company adopted Accounting Standards Update ("ASU") 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” ASU 2018-19, “Codification Improvements to Topic 326, Financial Instruments – Credit Losses,” ASU 2019-04, “Codification Improvements to Topic 326, Financial Instruments – Credit Losses, Topic 815, Derivatives and Hedging, and Topic 825, Financial Instruments,” ASU 2019-05, “Financial Instruments – Credit Losses (Topic 326): Targeted Transition Relief,” ASU 2019-10, “Financial instruments—Credit losses (Topic 326), Derivatives and hedging (Topic 815), and Leases (Topic 842)—Effective dates,” ASU 2019-11, “Codification Improvements to Topic 326, Financial Instruments—Credit Losses,” ASU 2020-02, “Financial Instruments-Credit Losses (Topic 326) and Leases (Topic 842),” ASU 2020-03, “Codification Improvements to Financial Instruments” and ASU 2022-02, “Financial Instruments – Credit Losses (Topic 326) - Troubled Debt Restructurings and Vintage Disclosures” (collectively, "ASC 326"). ASC 326 introduced an approach based on current expected credit losses ("CECL") to estimate credit losses on certain types of financial instruments, replacing the incurred loss methodology from prior GAAP. It also applies to unfunded commitments to extend credit, including loan commitments, standby letters of credit, and other similar instruments. It modified the impairment model for available-for-sale debt securities and provided for a simplified accounting model for purchased financial assets with credit deterioration since their origination. It also modified the measurement principles for modifications of loans to borrowers experiencing financial difficulty, including how the allowance for credit losses ("ACL") is measured for such loans. The amendments of ASC 326, upon adoption, were applied on a modified retrospective basis, recording an increase in the reported balance of the allowance for credit losses on loans, increasing the liability for credit losses on commitments to extend credit, and reducing total equity of both the Company and the Bank of Clarke, which resulted in a reduction of regulatory capital of Bank of Clarke. As a result of adopting ASC 326, the Company recorded a decrease to opening retained earnings of approximately $ 2.0 million, net of deferred taxes of approximately $ 521 thousand as of January 1, 2023. The adoption of ASC 326 also replaced previous TDR accounting guidance, and the evaluation of the ACL will include loans previously designated as TDRs together with other loans that share similar risk characteristics. The adoption of ASC 326 did not affect the carrying value of debt securities or the amount of unrealized gains and losses recorded in accumulated other comprehensive loss. Upon adoption of ASC 326, the Company did not have any securities included in its portfolio where other-than-temporary-impairments had previously been recognized or that required an ACL. The following accounting policies have been updated in connection with the adoption of ASC 326 and apply to periods beginning after December 31, 2022. Accounting policies applying to prior periods are described in the 2022 Form 10-K. Securities: Investments in debt securities are classified as either held to maturity, available for sale, or trading, based on management’s intent. Currently all of the Company’s debt securities are classified as available for sale. Available for sale debt securities are carried at estimated fair value with the corresponding unrealized gains and losses recognized in Impairment of debt securities occurs when the fair value of a security is less than its amortized cost. The Company has elected to exclude accrued interest receivable from the amortized cost basis. Accrued interest totaled $ 396 thousand at September 30, 2023, and is included in the other assets line item in the Consolidated Balance Sheets. For debt securities available for sale, impairment is recognized in its entirety in net income if either (i) we intend to sell the security or (ii) it is more-likely-than-not that we will be required to sell the security before recovery of its amortized cost basis. If, however, the Company does not intend to sell the security and it is not more-likely-than-not that the Company will be required to sell the security before recovery, the Company evaluates unrealized losses to determine whether a decline in fair value below amortized cost basis is a result of a credit loss, which occurs when the amortized cost basis of the security exceeds the present value of the cash flows expected to be collected from the security, or other factors such as changes in market interest rates. If a credit loss exists, an allowance for credit losses is recorded that reflects the amount of the impairment related to credit losses, limited by the amount by which the security’s amortized cost basis exceeds its fair value. Changes in the allowance for credit losses are recorded in net income in the period of change and are included in provision for credit losses. Changes in the fair value of debt securities available for sale not resulting from credit losses are recorded in other comprehensive income (loss). The Company regularly reviews unrealized losses in its investments in securities and cash flows expected to be collected from impaired securities based on criteria including the extent to which market value is below amortized cost, the financial health of and specific prospects for the issuer, the Company’s intention with regard to holding the security to maturity and the likelihood that the Company would be required to sell the security before recovery. Loans Held for Investment: The Company makes mortgage, commercial and consumer loans to customers. The Company’s recorded investment in loans that management has the intent and ability to hold for the foreseeable future or until maturity or pay-off generally is reported at the unpaid principal balances adjusted for charges-offs, unearned discounts, any deferred fees or costs on originated loans, and the allowance for credit losses. The Company has elected to exclude accrued interest receivable from the amortized cost basis. Accrued interest totaled $ 4.4 million at September 30, 2023, and is included in the other assets line item in the Consolidated Balance Sheet. Interest on loans is credited to operations based on the principal amount outstanding. Loan fees and origination costs are deferred and the net amount is amortized as an adjustment of the related loan’s yield using the level-yield method. The Company is amortizing these amounts over the life of the related loans. A loan’s past due status is based on the contractual due date of the most delinquent payment due. Loans are generally placed on nonaccrual status when the collection of principal or interest is 90 days or more past due, or earlier, if collection is uncertain based on an evaluation of the net realizable value of the collateral and the financial strength of the borrower. Any accrued interest receivable on loans placed on nonaccrual status is reversed by an adjustment to interest income. Loans greater than 90 days past due may remain on accrual status if management determines it has adequate collateral to cover the principal and interest. For those loans that are carried on nonaccrual status, payments are first applied to principal outstanding. A loan may be returned to accrual status if the borrower has demonstrated a sustained period of repayment performance in accordance with the contractual terms of the loan and there is reasonable assurance the borrower will continue to make payments as agreed. These policies are applied consistently across our loan portfolio. In the ordinary course of business, the Company has entered into commitments to extend credit and standby letters of credit. Such financial instruments are recorded in the Consolidated Balance Sheets when they are funded. Allowance for Credit Losses on Loans: The allowance for credit losses on loans is established through charges to earnings in the form of a provision for credit losses. Loan losses are charged against the allowance for credit losses for the difference between the carrying value of the loan and the estimated net realizable value or fair value of the collateral, if collateral dependent, when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. The allowance represents management’s current estimate of expected credit losses over the contractual term of loans held for investment, and is recorded at an amount that, in management’s judgment, reduces the recorded investment in loans to the net amount expected to be collected. No allowance for credit loss is recorded on accrued interest receivable and amounts written-off are reversed by an adjustment to interest income. Management’s judgment in determining the level of the allowance is based on evaluations of historical loan losses, current conditions and reasonable and supportable forecasts relevant to the collectability of loans. Loans that share common risk characteristics are evaluated collectively using a loss-rate, or cohort methodology to estimate its current expected credit losses on loans. The cohort method identifies and captures the balances of pooled loans with similar risk characteristics, as of a point in time to form a cohort, then tracks the respective losses generated by that cohort of loans over their remaining lives. This method encompasses loan balances for as long as the loans are outstanding. Management’s estimate of the allowance for credit losses on loans that are collectively evaluated also includes a qualitative assessment of available information relevant to assessing collectability that is not captured in the loss estimation process. Factors considered by management include economic conditions including reasonable and supportable forecasts of economic conditions; the nature and volume of the loan portfolio; the volume and severity of delinquencies and adversely classified loan balances; lending policy and procedures; credit administration and lending staff; loan review; concentrations of credit and the value of underlying collateral. This evaluation is inherently subjective, as it requires estimates that are susceptible to significant revision as more information becomes available. Loans that do not share common risk characteristics with other loans are evaluated individually and are not included in the collective analysis. The allowance for credit losses on loans that are individually evaluated may be estimated based on their expected cash flows, or, in the case of loans for which repayment is expected substantially through the operation or sale of collateral when the borrower is experiencing financial difficulty, may be measured based on the fair value of the collateral less estimated costs to sell. Additional disclosures related to loans and the allowance for credit losses on loans are reflected in note 5. Reserve for Unfunded Commitments: The Company records a reserve, reported in other liabilities, for expected credit losses on commitments to extend credit that are not unconditionally cancelable by the Company. The reserve for unfunded commitments is measured based on the principles utilized in estimating the allowance for credit losses on loans and an estimate of the amount of unfunded commitments expected to be advanced. Changes in the reserve for unfunded commitments are recorded through the provision for credit losses. The reserve totaled $ 417 thousand at September 30, 2023 and $ 65 thousand at December 31, 2022. The initial adjustment for the adoption of ASC 326 was an increase in the reserve of $ 406 thousand and the Company recorded a provision of $( 0 ) and $( 54 ) thousand for the three and nine months ended September 30, 2023 , respectively. |
Stock-Based Compensation Plan
Stock-Based Compensation Plan | 9 Months Ended |
Sep. 30, 2023 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Stock-Based Compensation Plan | NOTE 2. Stock-Based Compensation Plan On May 16, 2023, the Company’s shareholders approved the 2023 Stock Incentive Plan which allows key employees and directors to increase their personal financial interest in the Company. The 2023 plan permits the issuance of incentive stock options and non-qualified stock options and the award of common stock, restricted stock, and stock units. The plan authorizes the issuance of up to 250,000 shares of common stock. The 2023 Stock Incentive Plan replaced the 2014 Stock Incentive Plan. The Company periodically grants restricted stock to its directors, executive officers and certain non-executive officers. Restricted stock provides grantees with rights to shares of common stock upon completion of a service period or achievement of Company performance measures. During the restriction period, all shares are considered outstanding and dividends are paid to the grantee. Outside directors are periodically granted restricted shares which vest over a period of one year . Prior to 2023, the vesting period for outside directors was typically less than nine months. Executive officers have been granted restricted shares which vest over a three year service period and restricted shares which vest based on meeting annual performance measures over a two year period. Certain non-executive officers also have been granted restricted shares which vest over a three year service period. The Company recognizes compensation expense over the restricted period based on the fair value of the Company's stock on the grant date. The Company's policy is to recognize forfeitures as they occur. As of September 30, 2023, there was $ 759 thousand of unrecognized compensation cost related to nonvested restricted stock. The following table presents restricted stock activity for the nine months ended September 30, 2023 and 2022: Nine Months Ended September 30, 2023 2022 Shares Weighted Shares Weighted Nonvested, beginning of period 38,780 $ 33.47 31,738 $ 30.70 Granted 37,941 36.60 31,648 34.40 Vested ( 17,302 ) 33.29 ( 12,468 ) 30.00 Forfeited ( 2,405 ) 36.80 ( 810 ) 29.69 Nonvested, end of period 57,014 $ 35.57 50,108 $ 33.72 |
Earnings Per Common Share
Earnings Per Common Share | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Common Share | NOTE 3. Earnings Per Common Share Basic earnings per share represents income available to common shareholders divided by the weighted average number of common shares outstanding during the period. Nonvested restricted shares are included in the weighted average number of common shares used to compute basic earnings per share because of dividend participation and voting rights. Diluted earnings per share reflects additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. The number of potential common shares is determined using the treasury method. The following table shows the weighted average number of shares used in computing earnings per share for the three and nine months ended September 30, 2023 and 2022. During 2023 and 2022 , there were no potentially dilutive securities outstanding. Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Average number of common shares outstanding used to calculate basic and diluted earnings per share 3,526,943 3,487,555 3,524,441 3,479,876 |
Securities
Securities | 9 Months Ended |
Sep. 30, 2023 | |
Debt Securities, Available-for-Sale [Abstract] | |
Securities | NOTE 4. Securities On January 1, 2023, the Company adopted ASC 326, which made changes to accounting for available for sale debt securities whereby credit losses should be presented as an allowance, rather than as a write-down when management does not intend to sell and does not believe that it is more likely than not they will be required to sell a security prior to maturity. In addition, ASC 326 requires financial assets measured at amortized cost to measure an expected credit loss under the CECL methodology that requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. All securities information presented as of September 30, 2023 is in accordance with ASC 326. All securities information presented as of December 31, 2022 or a prior date is presented in accordance with previously applicable GAAP. Amortized costs and fair values of securities available for sale at September 30, 2023 and December 31, 2022 were as follows: Amortized Gross Gross Fair Value September 30, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ 9,259 $ — $ ( 1,011 ) $ 8,248 Mortgage-backed securities 143,206 — ( 27,616 ) 115,590 Obligations of states and political subdivisions 6,591 — ( 423 ) 6,168 Subordinated debt 4,750 — ( 780 ) 3,970 $ 163,806 $ — $ ( 29,830 ) $ 133,976 December 31, 2022 (in thousands) Obligations of U.S. government corporations and agencies $ 9,993 $ — $ ( 858 ) $ 9,135 Mortgage-backed securities 153,289 — ( 24,136 ) 129,153 Obligations of states and political subdivisions 7,027 2 ( 422 ) 6,607 Subordinated debt 4,750 — ( 489 ) 4,261 $ 175,059 $ 2 $ ( 25,905 ) $ 149,156 The amortized cost and estimated fair value of securities at September 30, 2023 , by the earlier of contractual maturity or expected maturity, are shown below. The Company has elected to exclude accrued interest receivable, totaling $ 396 thousand at September 30, 2023, from the amortized cost basis of securities. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (in thousands) Due in one year or less $ 1,667 $ 1,646 Due after one year through five years 5,124 4,705 Due after five years through ten years 20,776 18,124 Due after ten years 136,239 109,501 $ 163,806 $ 133,976 During the nine months ended September 30, 2023 , the Company sold no available for sale securities. During the nine months ended September 30, 2022, the Company sold $ 15.4 million of available for sale securities recognizing $ 6 thousand in gross gains and $ 743 thousand in gross losses. The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous gross unrealized loss position, at September 30, 2023 and December 31, 2022 were as follows: Less than 12 months 12 months or more Total Fair Value Gross Fair Value Gross Fair Value Gross September 30, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ — $ — $ 8,248 $ 1,011 $ 8,248 $ 1,011 Mortgage-backed securities — — 115,590 27,616 115,590 27,616 Obligations of states and political subdivisions 485 16 5,283 407 5,768 423 Subordinated debt 218 32 3,252 748 3,470 780 $ 703 $ 48 $ 132,373 $ 29,782 $ 133,076 $ 29,830 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2022 (in thousands) Obligations of U.S. government corporations and agencies $ 6,140 $ 543 $ 2,994 $ 315 $ 9,134 $ 858 Mortgage-backed securities 31,771 4,052 97,382 20,084 129,153 24,136 Obligations of states and political subdivisions 6,065 422 — — 6,065 422 Subordinated debt 2,431 319 1,080 170 3,511 489 $ 46,407 $ 5,336 $ 101,456 $ 20,569 $ 147,863 $ 25,905 The reference point for determining when securities are in an unrealized loss position is month end. As such, it is possible that a security's market value exceeded its amortized cost on other days during the past twelve-month period. There were 104 debt securities with a fair value below the amortized cost basis, totaling $ 133.1 million of aggregate fair value as of September 30, 2023. The Company concluded that a credit loss does not exist in its securities portfolio at September 30, 2023, and no impairment loss has been recognized based on the fact that (1) changes in fair value were caused primarily by fluctuations in interest rates, (2) securities with unrealized losses had generally high credit quality, (3) the Company intends to hold these investments in debt securities to maturity and it is more-likely-than-not that the Company will not be required to sell these investments before a recovery of its investment, and (4) issuers have continued to make timely payments of principal and interest. Additionally, the Company’s mortgage-backed securities are entirely issued by either U.S. government agencies or U.S. government-sponsored enterprises. Collectively, these entities provide a guarantee, which is either explicitly or implicitly supported by the full faith and credit of the U.S. government, that investors in such mortgage-backed securities will receive timely principal and interest payments. Securities having a carrying v alue of $ 13.8 mi llion at September 30, 2023 were pledged as security for trust accounts. The composition of restricted investments at September 30, 2023 and December 31, 2022 was as follows: September 30, 2023 December 31, 2022 (in thousands) Federal Reserve Bank Stock $ 344 $ 944 Federal Home Loan Bank Stock 8,099 8,149 Community Bankers’ Bank Stock 140 140 $ 8,583 $ 9,233 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Loans and Allowance for Loan Losses | NOTE 5. Loans and Allowance for Credit Losses on Loans The composition of loans at September 30, 2023 and December 31, 2022 was as follows: September 30, December 31, 2023 2022 (in thousands) Mortgage real estate loans: Construction & Secured by Farmland $ 80,012 $ 89,651 HELOCs 44,719 43,588 Residential First Lien - Investor 120,547 111,074 Residential First Lien - Owner Occupied 162,919 125,088 Residential Junior Liens 12,284 11,417 Commercial - Owner Occupied 244,088 232,115 Commercial - Non-Owner Occupied & Multifamily 355,122 315,326 Commercial and industrial loans: SBA PPP loans 57 74 Other commercial and industrial loans 96,830 99,571 Marine loans 260,518 230,874 Consumer loans 42,538 44,841 Overdrafts 207 218 Other loans 13,089 12,503 Total loans $ 1,432,930 $ 1,316,340 Net deferred loan costs and premiums 8,055 7,443 Allowance for credit losses ( 14,573 ) ( 11,218 ) $ 1,426,412 $ 1,312,565 At September 30, 2023 , the Company was servicing $ 5.2 million of loans for other financial institutions which are not included in the table above. Also excluded from the table above are net servicing assets of $ 83 thousand at September 30, 2023, which are recorded in other assets in the Consolidated Balance Sheets. When loans are sold with servicing retained, servicing assets are recorded which represent the Company's right to service loans that were sold. Servicing assets are initially recorded by the Company at fair value and are subsequently amortized in proportion to, and over the period of, estimated net servicing income. On August 23, 2023, the Company completed the sale of certain assets of its marine finance division to an unrelated third-party. Under the Sale Agreements, the Company sold its interest in marine floor plan loans, the servicing rights associated with marine loans that had been sold to outside investors prior to August 23, 2023, and other assets that were not individually significant. Refer to Note 16 for additional information related to this transaction. Changes in the allowance for credit losses on loans for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 (in thousands) Balance, beginning $ 14,511 $ 9,847 $ 11,218 $ 8,787 Cumulative effect adjustment for adoption of ASC 326 — — 2,077 — Provision for credit losses 218 — 1,337 900 Recoveries added to the allowance 31 976 255 1,224 Credit losses charged to the allowance ( 187 ) ( 81 ) ( 314 ) ( 169 ) Balance, ending $ 14,573 $ 10,742 $ 14,573 $ 10,742 Nonaccrual and past due loans by class at September 30, 2023 were as follows: September 30, 2023 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ — $ — $ 80,012 $ 80,012 $ — HELOCs 124 — — 124 44,595 44,719 — Residential First Lien - Investor — — — — 120,547 120,547 — Residential First Lien - Owner Occupied 114 48 36 198 162,721 162,919 — Residential Junior Liens 9 — — 9 12,275 12,284 — Commercial - Owner Occupied — — — — 244,088 244,088 — Commercial - Non-Owner Occupied & Multifamily — — — — 355,122 355,122 — Commercial and industrial loans: SBA PPP loans — — — — 57 57 — Other commercial and industrial loans — 90 234 324 96,506 96,830 — Marine loans — 5 367 372 260,146 260,518 — Consumer loans 261 86 66 413 42,125 42,538 66 Overdrafts — — — — 207 207 — Other loans — — — — 13,089 13,089 — Total $ 508 $ 229 $ 703 $ 1,440 $ 1,431,490 $ 1,432,930 $ 66 September 30, 2023 (in thousands) Nonaccruals with No Allowance for Credit Losses Nonaccrual with an Allowance for Credit Losses Nonaccrual Mortgage real estate loans: Construction & Secured by Farmland $ 97 $ — $ 97 HELOCs 15 — 15 Residential First Lien - Investor 1,093 — 1,093 Residential First Lien - Owner Occupied 115 — 115 Residential Junior Liens 3 — 3 Commercial - Owner Occupied 27 — 27 Commercial - Non-Owner Occupied & Multifamily 3,656 — 3,656 Commercial and industrial loans: SBA PPP loans — — — Other commercial and industrial loans 12 312 324 Marine loans 367 — 367 Consumer loans — — — Overdrafts — — — Other loans — — — Total $ 5,385 $ 312 $ 5,697 Nonaccrual and past due loans by class at December 31, 2022 were as follows: December 31, 2022 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Nonaccrual Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ 101 $ 101 $ 89,550 $ 89,651 $ — $ 397 HELOCs 149 — — 149 43,439 43,588 — 155 Residential First Lien - Investor — — — — 111,074 111,074 — — Residential First Lien - Owner Occupied 222 — 39 261 124,827 125,088 — 175 Residential Junior Liens — — — — 11,417 11,417 — 6 Commercial - Owner Occupied — — — — 232,115 232,115 — — Commercial - Non-Owner Occupied & Multifamily — — — — 315,326 315,326 — 1,356 Commercial and industrial loans: SBA PPP loans — — — — 74 74 — — Other commercial and industrial loans 15 — 73 88 99,483 99,571 — 73 Marine loans — — — — 230,874 230,874 — — Consumer loans 56 — 318 374 44,467 44,841 318 — Overdrafts — — — — 218 218 — — Other loans — — — — 12,503 12,503 — — Total $ 442 $ — $ 531 $ 973 $ 1,315,367 $ 1,316,340 $ 318 $ 2,162 The allowance for credit losses on loans by segment at September 30, 2023 and December 31, 2022 was as follows: As of and For the Nine Months Ended September 30, 2023 (in thousands) Construction Residential Commercial Commercial Marine Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 2,714 $ 1,735 $ 2,221 $ 2,222 $ 1,555 $ 299 $ 472 $ — $ 11,218 Cumulative effect adjustment for adoption of ASC 326 $ ( 1,840 ) $ 1,933 $ 3,584 $ ( 1,102 ) $ ( 285 ) $ ( 123 ) $ ( 90 ) $ — $ 2,077 Charge-Offs — — — — ( 126 ) ( 38 ) ( 150 ) — ( 314 ) Recoveries 5 14 — 13 — 45 178 — 255 Provision ( 134 ) 765 496 92 289 48 ( 28 ) ( 191 ) 1,337 Ending balance $ 745 $ 4,447 $ 6,301 $ 1,225 $ 1,433 $ 231 $ 382 $ ( 191 ) $ 14,573 Ending balance: Individually evaluated $ — $ — $ — $ 312 $ — $ — $ — $ — $ 312 Ending balance: collectively evaluated $ 745 $ 4,447 $ 6,301 $ 913 $ 1,433 $ 231 $ 382 $ ( 191 ) $ 14,261 Loans: Ending balance $ 80,012 $ 340,469 $ 599,210 $ 96,887 $ 260,518 $ 42,538 $ 13,296 $ — $ 1,432,930 Ending balance individually evaluated $ 96 $ 1,172 $ 3,672 $ 312 $ 430 $ — $ — $ — $ 5,682 Ending balance collectively evaluated $ 79,916 $ 339,297 $ 595,538 $ 96,575 $ 260,088 $ 42,538 $ 13,296 $ — $ 1,427,248 As of and For the Year Ended December 31, 2022 (in thousands) Construction Residential Commercial Commercial Marine Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 2,794 $ 1,671 $ 1,729 $ 1,294 $ 789 $ 219 $ 291 $ — $ 8,787 Charge-Offs — ( 9 ) — ( 300 ) — ( 79 ) ( 271 ) — ( 659 ) Recoveries 9 888 197 109 — 44 13 — 1,260 Provision ( 89 ) ( 815 ) 295 1,119 766 115 439 — 1,830 Ending balance $ 2,714 $ 1,735 $ 2,221 $ 2,222 $ 1,555 $ 299 $ 472 $ — $ 11,218 Ending balance: Individually evaluated for impairment $ — $ 27 $ — $ 73 $ — $ — $ — $ — $ 100 Ending balance: collectively evaluated for impairment $ 2,714 $ 1,708 $ 2,221 $ 2,149 $ 1,555 $ 299 $ 472 $ — $ 11,118 Loans: Ending balance $ 89,651 $ 291,167 $ 547,441 $ 99,645 $ 230,874 $ 44,841 $ 12,721 $ — $ 1,316,340 Ending balance individually evaluated for impairment $ 1,044 $ 3,719 $ 1,695 $ 141 $ — $ 22 $ — $ — $ 6,621 Ending balance collectively evaluated for impairment $ 88,607 $ 287,448 $ 545,746 $ 99,504 $ 230,874 $ 44,819 $ 12,721 $ — $ 1,309,719 The following table presents the amortized cost basis of collateral-dependent loans by loan portfolio segment: September 30, 2023 (in thousands) (in thousands) Real Estate Collateral Other Collateral Total Mortgage real estate loans: Construction & Secured by Farmland $ 96 $ — $ 96 HELOCs — — — Residential First Lien - Investor 1,093 — 1,093 Residential First Lien - Owner Occupied 79 — 79 Residential Junior Liens — — — Commercial - Owner Occupied 16 — 16 Commercial - Non-Owner Occupied & Multifamily 3,656 — 3,656 Commercial and industrial loans: SBA PPP loans — — — Other commercial and industrial loans — 312 312 Marine loans — 430 430 Consumer loans — — — Overdrafts — — — Other loans — — — $ 4,940 $ 742 $ 5,682 The Company did not identify any significant changes in the extent to which collateral secures its collateral dependent loans, whether in the form of general deterioration or from other factors during the period ended September 30, 2023. 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 loans individually to classify the loans as to credit risk. This anallysis is performed on a quarterly basis. The following table presents risk ratings by loan portfolio segment and origination year (for 2023 only). Description of these ratings are as follows: Pass Pass loans exhibit acceptable history of profits, cash flow ability and liquidity. Sufficient cash flow exists to service the loan. All obligations have been paid by the borrower in an as agreed manner. Special Mention Special mention loans exhibit negative trends and potential weakness that, if left uncorrected, may negatively affect the borrower’s ability to repay its obligations. The risk of default is not imminent and the borrower still demonstrates sufficient financial strength to service debt. Classified Classified loans include loans rated Substandard, Doubtful and Loss. • Substandard loans exhibit well defined weaknesses resulting in a higher probability of default. The borrowers exhibit adverse financial trends and a diminishing ability or willingness to service debt. • Doubtful loans exhibit all of the characteristics inherent in substandard loans; however given the severity of weaknesses, the collection of 100% of the principal is unlikely under current conditions. • Loss loans are considered uncollectible over a reasonable period of time and of such little value that its continuance as a bankable asset is not warranted. Credit quality information by class at September 30, 2023 and December 31, 2022 was as follows: September 30, 2023 Term Loan Amortized Cost Basis by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage real estate loans: Construction & Secured by Farmland Pass $ 26,098 $ 23,622 $ 6,921 $ 5,418 $ 2,423 $ 3,682 $ 7,532 $ — $ 75,696 Special Mention — 1,179 985 — 1,048 821 — — 4,033 Classified — — — 147 — 136 — — 283 Total $ 26,098 $ 24,801 $ 7,906 $ 5,565 $ 3,471 $ 4,639 $ 7,532 $ — $ 80,012 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — HELOCs Pass $ — $ — $ — $ — $ — $ — $ 44,654 $ — $ 44,654 Special Mention — — — — — — 49 — 49 Classified — — — — — — 16 — 16 Total $ — $ — $ — $ — $ — $ — $ 44,719 $ — $ 44,719 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Investor Pass $ 16,530 $ 26,717 $ 32,126 $ 11,375 $ 4,754 $ 24,517 $ — $ — $ 116,019 Special Mention — 1,670 233 626 — 907 — — 3,436 Classified — — 1,092 — — — — — 1,092 Total $ 16,530 $ 28,387 $ 33,451 $ 12,001 $ 4,754 $ 25,424 $ — $ — $ 120,547 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Owner Occupied Pass $ 43,193 $ 31,810 $ 24,017 $ 36,231 $ 4,040 $ 22,299 $ — $ — $ 161,590 Special Mention — — — — — 472 — — 472 Classified — — — — — 857 — — 857 Total $ 43,193 $ 31,810 $ 24,017 $ 36,231 $ 4,040 $ 23,628 $ — $ — $ 162,919 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Junior Liens Pass $ 1,766 $ 2,969 $ 3,499 $ 1,515 $ 653 $ 1,844 $ — $ — $ 12,246 Special Mention — — — — — — — — — Classified — — — — — 38 — — 38 Total $ 1,766 $ 2,969 $ 3,499 $ 1,515 $ 653 $ 1,882 $ — $ — $ 12,284 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Owner Occupied Pass $ 26,226 $ 68,359 $ 42,515 $ 26,101 $ 16,245 $ 51,463 $ 2,670 $ — $ 233,579 Special Mention — 1,882 67 2,161 1,087 1,422 — — 6,619 Classified — — 3,362 501 — 27 — — 3,890 Total $ 26,226 $ 70,241 $ 45,944 $ 28,763 $ 17,332 $ 52,912 $ 2,670 $ — $ 244,088 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Non-Owner Occupied & Multifamily Pass $ 52,459 $ 93,832 $ 66,232 $ 74,303 $ 17,044 $ 44,118 $ 1,196 $ — $ 349,184 Special Mention — — 2,282 — — — — — 2,282 Classified — — — 2,368 — 1,288 — — 3,656 Total $ 52,459 $ 93,832 $ 68,514 $ 76,671 $ 17,044 $ 45,406 $ 1,196 $ — $ 355,122 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial and industrial loans: SBA PPP loans Pass $ — $ — $ 57 $ — $ — $ — $ — $ — $ 57 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ — $ 57 $ — $ — $ — $ — $ — $ 57 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial and industrial loans Pass $ 13,637 $ 28,991 $ 9,264 $ 2,182 $ 2,870 $ 4,130 $ 31,256 $ — $ 92,330 Special Mention 1,529 — — — 1 10 2,636 — 4,176 Classified 231 81 — 3 — — 9 — 324 Total $ 15,397 $ 29,072 $ 9,264 $ 2,185 $ 2,871 $ 4,140 $ 33,901 $ — $ 96,830 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Marine loans Pass $ 90,224 $ 132,659 $ 36,594 $ 674 $ — $ — $ — $ — $ 260,151 Special Mention — — — — — — — — — Classified 367 — — — — — — — 367 Total $ 90,591 $ 132,659 $ 36,594 $ 674 $ — $ — $ — $ — $ 260,518 Current period gross charge-offs $ — $ 126 $ — $ — $ — $ — $ — $ — $ 126 Consumer loans Pass $ 2,542 $ 14,375 $ 6,416 $ 9,032 $ 1,810 $ 37 $ 8,326 $ — $ 42,538 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 2,542 $ 14,375 $ 6,416 $ 9,032 $ 1,810 $ 37 $ 8,326 $ — $ 42,538 Current period gross charge-offs $ — $ 3 $ — $ — $ — $ — $ 35 $ — $ 38 Overdrafts Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Classified 207 — — — — — — — 207 Total $ 207 $ — $ — $ — $ — $ — $ — $ — $ 207 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ 150 $ — $ 150 Other loans Pass $ 72 $ 10,173 $ 30 $ 9 $ — $ 2,685 $ 120 $ — $ 13,089 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 72 $ 10,173 $ 30 $ 9 $ — $ 2,685 $ 120 $ — $ 13,089 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total by Risk Category Pass $ 272,747 $ 433,507 $ 227,671 $ 166,840 $ 49,839 $ 154,775 $ 95,754 $ — $ 1,401,133 Special Mention 1,529 4,731 3,567 2,787 2,136 3,632 2,685 — 21,067 Classified 805 81 4,454 3,019 — 2,346 25 — 10,730 Total $ 275,081 $ 438,319 $ 235,692 $ 172,646 $ 51,975 $ 160,753 $ 98,464 $ — $ 1,432,930 Total current period gross charge-offs $ — $ 129 $ — $ — $ — $ — $ 185 $ — $ 314 As of December 31, 2022 (in thousands) INTERNAL RISK RATING GRADES Pass Special Substandard Doubtful Loss Total Commercial - Non Real Estate: Commercial & Industrial $ 247,061 $ 526 $ 72 $ — $ — $ 247,659 Commercial Real Estate: Owner Occupied 212,074 20,020 21 — — 232,115 Non-owner occupied 257,625 16,189 1,706 — — 275,520 Construction and Farm land: Residential 11,235 — 21 — — 11,256 Commercial 69,427 153 8,815 — — 78,395 Residential: Equity Lines 43,124 310 154 — — 43,588 Single family 251,247 5,972 951 — — 258,170 Multifamily 39,806 — — — — 39,806 All other loans 12,721 — — — — 12,721 Total $ 1,144,320 $ 43,170 $ 11,740 $ — $ — $ 1,199,230 Performing Nonperforming Consumer Credit Exposure by Payment Activity $ 116,908 $ 202 |
Restructurings for Borrowers Ex
Restructurings for Borrowers Experiencing Financial Difficulty | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Restructurings for Borrowers Experiencing Financial Difficulty | NOTE 6. Restructurings for Borrowers Experiencing Financial Difficulty The Company adopted the amendments in ASU 2022-02, which eliminated accounting guidance on TDR loans for creditors and requires enhanced disclosures for loan modifications to borrowers experiencing financial difficulty that we made on or after January 1, 2023. The following table presents the amortized cost of loans that were modified during the nine months ended September 30, 2023 by loan portfolio segment: September 30, 2023 (in thousands) Term Extension Total % of Total Class of Loans Mortgage real estate loans: Residential First Lien - Owner Occupied $ 355 $ 355 0.22 % Total $ 355 $ 355 None of the loans that were modified defaulted during the nine months ended September 30, 2023 and the loans remain current with contractual payments as of September 30, 2023. The financial effects of the term extensions during the period added a weighted average of 1.0 years to the life of loans which reduced the payment amounts for the borrowers. There were no loans to borrowers experiencing financial difficulty that were modified during the three months ended September 30, 2023. Prior to the adoption of ASU 2022-02, the Company accounted for a modification to the contractual terms of a loan that resulting in granting a concession to a borrower experiencing financial difficulties as a TDR. During the three and nine months ended September 30, 2022, the Company classified five and 11 loans, respectively as troubled debt restructurings. Three Months Ended September 30, 2022 (in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Consumer: Installment 1 $ 20 $ 21 Residential: Single Family 4 894 894 Total 5 $ 914 $ 915 Nine Months Ended September 30, 2022 (in thousands) Number of Pre-Modification Outstanding Post-Modification Outstanding Commercial Real Estate: Owner Occupied 1 $ 185 $ 185 Non-Owner Occupied 1 161 161 Construction and Farmland: Commercial 1 639 639 Consumer: Installment 1 20 21 Residential: Single family 7 1,433 1,451 Total 11 $ 2,438 $ 2,457 There were no payment defaults during the three and nine months ended September 30, 2022 for TDRs that were restructured within the preceding twelve-month period. Management defines default as over 30 days contractually past due under the modified terms, the foreclosure and/or repossession of the collateral, or the charge-off of the loan during the twelve-month period subsequent to the modification. |
Deposits
Deposits | 9 Months Ended |
Sep. 30, 2023 | |
Deposits [Abstract] | |
Deposits | N OTE 7. Deposits The composition of deposits at September 30, 2023 and December 31, 2022 was as follows: September 30, 2023 December 31, 2022 (in thousands) Noninterest bearing demand deposits $ 430,910 $ 478,750 Savings and interest bearing demand deposits: NOW accounts $ 188,330 $ 167,197 Money market accounts 325,712 220,498 Regular savings accounts 142,069 239,736 $ 656,111 $ 627,431 Time deposits: Balances of less than $250,000 $ 265,856 $ 87,531 Balances of $250,000 and more 145,503 70,363 $ 411,359 $ 157,894 $ 1,498,380 $ 1,264,075 |
Leases
Leases | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Leases | NOTE 8. Leases Lease liabilities represent the Company’s obligation to make lease payments and are presented at each reporting date as the net present value of the remaining contractual cash flows. Cash flows are discounted at the Company’s incremental borrowing rate in effect at the commencement date of the lease. Right-of-use assets represent the Company’s right to use the underlying asset for the lease term and are calculated as the sum of the lease liability and if applicable, prepaid rent, initial direct costs and any incentives received from the lessor. The Company’s four long-term lease agreements are classified as operating leases. These leases offer the option to extend the lease term and the Company has included such extensions in its calculation of the lease liability to the extent the options are reasonably certain of being exercised. The lease agreements do not provide for a residual value guarantee and have no restrictions or covenants that would impact dividends or require incurring additional financial obligations. The following tables present information about the Company’s leases: (dollars in thousands) September 30, 2023 December 31, 2022 Lease liabilities $ 4,736 $ 4,978 Right-of-use assets $ 4,482 $ 4,766 Weighted average remaining lease term 14 years 14 years Weighted average discount rate 3.08 % 3.04 % Three Months Ended Nine Months Ended Lease Cost September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease cost $ 132 $ 132 $ 396 $ 396 Short-term lease cost 4 3 11 11 Total lease cost $ 136 $ 135 $ 407 $ 407 Cash paid for amounts included in the measurement of lease liabilities $ 118 $ 116 $ 354 $ 348 A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liabilities is as follows: (dollars in thousands) As of Lease payments due September 30, 2023 Twelve months ending September 30, 2024 $ 478 Twelve months ending September 30, 2025 497 Twelve months ending September 30, 2026 428 Twelve months ending September 30, 2027 390 Twelve months ending September 30, 2028 394 Thereafter 3,853 Total undiscounted cash flows $ 6,040 Discount ( 1,304 ) Lease liabilities $ 4,736 |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | NOTE 9. Fair Value Measurements GAAP requires the Company to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of assets and liabilities is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. “Fair Value Measurements” defines fair value, establishes a framework for measuring fair value, establishes a three-level valuation hierarchy for disclosure of fair value measurement and enhances disclosure requirements for fair value measurements. The valuation hierarchy is based upon the transparency of inputs to the valuation of an asset or liability as of the measurement date. The three levels are defined as follows: Level 1 Inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets. Level 2 Inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Level 3 Inputs to the valuation methodology are unobservable and significant to the fair value measurement. The following section provides a description of the valuation methodologies used for instruments measured at fair value on a recurring basis, as well as the general classification of such instruments pursuant to the valuation hierarchy: Securities Available for Sale: Where quoted prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. Level 1 securities would include highly liquid government bonds, mortgage products and exchange traded equities. If quoted market prices are not available, then fair values are estimated by using pricing models, quoted prices of securities with similar characteristics, or discounted cash flow. Level 2 securities would include U.S. agency securities, mortgage-backed agency securities, obligations of states and political subdivisions and certain corporate, asset backed and other securities. In certain cases where there is limited activity or less transparency around inputs to the valuation, securities are classified within Level 3 of the valuation hierarchy. Derivative instruments are recorded at fair value on a recurring basis. The Company utilizes derivative instruments as part of the management of interest rate risk to modify the re-pricing characteristics of certain portions of the Company’s interest-bearing assets and liabilities. The Company has contracted with a third-party vendor to provide valuations for derivatives using standard valuation techniques and therefore classifies such valuations as Level 2. The Company has considered counterparty credit risk in the valuation of its derivative assets and has considered its own credit risk in the valuation of its derivative liabilities. The following table presents balances of financial assets and liabilities measured at fair value on a recurring basis at September 30, 2023 and December 31, 2022: Fair Value Measurements at September 30, 2023 Using Balance as of Quoted Prices Significant Significant September 30, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 8,248 $ — $ 8,248 $ — Mortgage-backed securities 115,590 — 115,590 — Obligations of states and political subdivisions 6,168 — 6,168 — Subordinated debt 3,970 — 3,970 — Derivative: Interest rate swaps 1,828 — 1,828 — Total assets at fair value $ 135,804 $ — $ 135,804 $ — Liabilities: Interest rate swaps $ 1,828 $ — $ 1,828 $ — Total liabilities at fair value $ 1,828 $ — $ 1,828 $ — Fair Value Measurements at December 31, 2022 Balance as of Quoted Prices Significant Significant December 31, 2022 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 9,135 $ — $ 9,135 $ — Mortgage-backed securities 129,153 — 129,153 — Obligations of states and political subdivisions 6,607 — 6,607 — Subordinated debt 4,261 — 4,261 — Derivative: Interest rate swap 1,017 — 1,017 — Total assets at fair value $ 150,173 $ — $ 150,173 $ — Liabilities: Interest rate swap 1,017 — 1,017 — Total liabilities at fair value $ 1,017 $ — $ 1,017 $ — Certain financial assets are measured at fair value on a nonrecurring basis in accordance with GAAP. Adjustments to the fair value of these assets usually result from the application of lower of cost or market accounting or write downs of individual assets. The following describes the valuation techniques used by the Company to measure certain financial and nonfinancial assets recorded at fair value on a nonrecurring basis in the financial statements: Loans Held for Sale: Loans held for sale are carried at the lower of cost or market value. These loans currently consist of one-to-four family residential loans originated for sale in the secondary market. Fair value is based on the price secondary markets are currently offering for similar loans using observable market data which is not materially different than cost due to the short duration between origination and sale (Level 2). The Company records any fair value adjustments on a nonrecurring basis. No nonrecurring fair value adjustments were recorded on loans held for sale during three and nine months ended September 30, 2023 and the year ended December 31, 2022. Individually Evaluated Collateral-Dependent Loans: The estimated fair value of individually evaluated collateral-dependent loans is based on the value of the underlying collateral or the value of the underlying collateral, less estimated cost to sell, as appropriate. Collateral is generally real estate; however, collateral may include vehicles, equipment, inventory, accounts receivable, and/or other business assets. The value of real estate collateral is determined using a market valuation approach based on an appraisal conducted by an independent, licensed appraiser. The value of other assets may also be based on an appraisal, market quotations, aging schedules or other sources. Collateral-dependent individually evaluated loans are classified within Level 3 of the fair value hierarchy. Any fair value adjustments are recorded in the period incurred as a provision for credit losses on the Consolidated Statements of Income. There were no individually evaluated collateral dependent loans recorded at fair value at September 30, 2023 or December 31, 2022. Other Real Estate Owned: Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the property, less estimated selling costs, establishing a new costs basis. Any write-downs based on the asset’s fair value at the date of acquisition are charged to the allowance for loan losses. Costs of significant property improvements are capitalized, whereas costs relating to holding property are expensed. The portion of interest costs relating to development of real estate is capitalized. Valuations are periodically obtained by management, and any subsequent write-downs are recorded as a charge to operations, if necessary, to reduce the carrying value of a property to fair value less cost to sell. The fair value measurement of real estate held in other real estate owned is assessed in the same manner as impaired loans described above. We believe that the fair value follows the provisions of GAAP. The Company held no other real estate owned at September 30, 2023 and had a balance of $ 108 thousand in other real estate owned at December 31, 2022. The following table displays quantitative information about Level 3 Fair Value Measurements for certain assets measured at fair value on a nonrecurring basis at December 31, 2022: Quantitative information about Level 3 Fair Value Measurements December 31, 2022 Valuation Technique(s) Unobservable Input Range Weighted Average (1) Assets: Other real estate owned Discounted contract price Discount for selling costs 6 % 6 % (1) Unobservable inputs were weighted by the relative fair values of the instruments. The following table summarizes the Company’s assets that were measured at fair value on a nonrecurring basis at December 31, 2022: Carrying value at December 31, 2022 Balance as of Quoted Prices Significant Significant December 31, 2022 (Level 1) (Level 2) (Level 3) (in thousands) Nonfinancial Assets: Other real estate owned $ 108 $ — $ 108 $ — The carrying value and fair value of the Company’s financial instruments at September 30, 2023 and December 31, 2022 were as follows: Fair Value Measurements at September 30, 2023 Using Carrying Quoted Prices Significant Significant Fair Value September 30, 2023 (Level 1) (Level 2) (Level 3) September 30, 2023 (in thousands) Financial assets: Cash and short-term investments $ 142,038 $ 142,038 $ — $ — $ 142,038 Securities 133,976 — 133,976 — 133,976 Restricted Investments 8,583 — 8,583 — 8,583 Loans held for sale 3,564 3,564 — 3,564 Loans, net 1,426,412 — — 1,356,742 1,356,742 Bank owned life insurance 24,404 — 24,404 — 24,404 Accrued interest receivable 4,794 — 4,794 — 4,794 Interest rate swaps 1,828 — 1,828 — 1,828 Financial liabilities: Deposits $ 1,498,380 $ — $ 1,495,212 $ — $ 1,495,212 Federal Home Loan Bank advances, long-term 145,000 — 144,125 — 144,125 Subordinated debt, net of unamortized issuance costs 29,428 — 25,602 — 25,602 Accrued interest payable 1,970 — 1,970 — 1,970 Interest rate swaps 1,828 — 1,828 — 1,828 Fair Value Measurements at December 31, 2022 Using Carrying Value Quoted Prices Significant Significant Fair Value December 31, 2022 (Level 1) (Level 2) (Level 3) December 31, 2022 (in thousands) Financial assets: Cash and short-term investments $ 66,894 $ 66,894 $ — $ — $ 66,894 Securities 149,156 — 149,156 — 149,156 Restricted Investments 9,233 — 9,233 — 9,233 Loans held for sale 153 153 — 153 Loans, net 1,312,565 — — 1,260,149 1,260,149 Bank owned life insurance 23,862 — 23,862 — 23,862 Accrued interest receivable 3,902 — 3,902 — 3,902 Interest rate swap 1,017 — 1,017 — 1,017 Financial liabilities: Deposits $ 1,264,075 $ — $ 1,262,859 $ — $ 1,262,859 Federal funds purchased 32,980 — 32,980 — 32,980 Federal Home Loan Bank advances, short-term 175,000 — 174,705 — 174,705 Subordinated debt, net of unamortized issuance costs 29,377 — 26,101 — 26,101 Accrued interest payable 926 — 926 — 926 Interest rate swap 1,017 — 1,017 — 1,017 |
Change in Accumulated Other Com
Change in Accumulated Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Change in Accumulated Other Comprehensive Income (Loss) | NOTE 10. Change in Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) includes unrealized gains and losses on available for sale securities and changes in benefit obligations and plan assets for the post retirement benefit plan. Changes to accumulated other comprehensive income (loss) are presented net of their tax effect as a component of equity. Reclassifications out of accumulated other comprehensive income (loss) are recorded in the Consolidated Statements of Income either as a gain or loss. Changes to accumulated other comprehensive income (loss) by component are shown in the following table for the periods indicated: Three Months Ended September 30, 2023 2022 Unrealized Change in Total Unrealized Change in Total (dollars in thousands) (dollars in thousands) July 1 $ ( 19,430 ) $ 14 $ ( 19,416 ) $ ( 16,775 ) $ 19 $ ( 16,756 ) Other comprehensive (loss) before reclassifications ( 5,237 ) — ( 5,237 ) ( 6,401 ) — ( 6,401 ) Reclassifications — — — 737 — 737 Tax effect of current period changes 1,100 — 1,100 1,189 — 1,189 Current period changes net of taxes ( 4,137 ) — ( 4,137 ) ( 4,475 ) — ( 4,475 ) September 30 $ ( 23,567 ) $ 14 $ ( 23,553 ) $ ( 21,250 ) $ 19 $ ( 21,231 ) Nine Months Ended September 30, 2023 2022 Unrealized Change in Total Unrealized Change in Total (dollars in thousands) (dollars in thousands) January 1 $ ( 20,465 ) $ 19 $ ( 20,446 ) $ ( 174 ) $ 19 $ ( 155 ) Other comprehensive income (loss) before reclassifications ( 3,927 ) ( 8 ) ( 3,935 ) ( 27,416 ) — ( 27,416 ) Reclassifications — — — 737 — 737 Tax effect of current period changes 825 3 828 5,603 — 5,603 Current period changes net of taxes ( 3,102 ) ( 5 ) ( 3,107 ) ( 21,076 ) — ( 21,076 ) September 30 $ ( 23,567 ) $ 14 $ ( 23,553 ) $ ( 21,250 ) $ 19 $ ( 21,231 ) For the three and nine months ended September 30, 2023 there were no reclassifications out of accumulated other comprehensive income (loss). For the three and nine months ended September 30, 2022, $( 737 ) thousand was reclassified out of accumulated other comprehensive income (loss) and appeared as loss on sale of securities in the Consolidated Statements of Income. For the three and nine months ended September 30, 2022, the tax related to these reclassifications was $ 155 thousand, which is included in income tax expense in the Consolidated Statements of Income. |
Other Real Estate Owned
Other Real Estate Owned | 9 Months Ended |
Sep. 30, 2023 | |
Real Estate [Abstract] | |
Real Estate Owned | NOTE 11. Other Real Estate Owned The following table is a summary of other real estate owned (“OREO”) activity for the nine months ended September 30, 2023 and 2022 and the year ended December 31, 2022: Nine Months Ended Year Ended Nine Months Ended September 30, December 31, September 30, 2023 2022 2022 (in thousands) Balance, beginning $ 108 $ — $ — Transfer from loans — 108 — Gain on foreclosures — — — Sales ( 108 ) — — Valuation adjustments — — — Balance, ending $ — $ 108 $ — The major classifications of other real estate owned in the consolidated balance sheets at December 31, 2022 were as follows: December 31, 2022 (in thousands) Construction and Farmland $ — Residential Real Estate 108 Commercial Real Estate — Subtotal $ 108 Less valuation allowance — Total $ 108 There were no consumer mortgage collateralized by residential real estate in the process of foreclosure at September 30, 2023 and December 31, 2022 . |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments (Notes) | 9 Months Ended |
Sep. 30, 2023 | |
Federal Home Loan Banks [Abstract] | |
Qualified Affordable Housing Project Investments | NOTE 12. Qualified Affordable Housing Project Investments The Company invests in qualified affordable housing projects. The general purpose of these investments is to encourage and assist participants in investing in low-income residential rental properties located in the Commonwealth of Virginia, develop and implement strategies to maintain projects as low-income housing, provide tax credits and other tax benefits to investors, and to preserve and protect project assets. At September 30, 2023 and December 31, 2022 , the balance of the investment for qualified affordable housing projects was $ 2.1 million and $ 2.3 million, respectively. These balances are reflected in Other assets on the Consolidated Balance Sheets. Total unfunded commitments related to the investments in qualified affordable housing projects totaled zero at both September 30, 2023 and December 31, 2022. During each of the three months ended September 30, 2023 and September 30, 2022 , the Company recognized amortization expense of $ 54 thousand and $ 82 thousand, respectively. The Company recognized amortization expenses of $ 211 thousand and $ 196 thousand for the nine months ended September 30, 2023 and 2022, respectively. The amortization expense was included in Other operating expenses on the Consolidated Statements of Income. Total estimated credits to be received during 2023 are $ 355 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during the nine months ended September 30, 2023 and 2022, were $ 268 thousand and $ 269 thousand, respectively . |
Recent Accounting Pronouncement
Recent Accounting Pronouncements and Other Authoritative Guidance | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Recent Accounting Pronouncements and Other Authoritative Guidance | NOTE 13. Recent Accounting Pronouncements and Other Authoritative Guidance In March 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-02, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method”. These amendments allow reporting entities to elect to account for qualifying tax equity investments using the proportional amortization method, regardless of the program giving rise to the related income tax credits. The ASU is effective for public business entities for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted for all entities in any interim period. The Company does not expect the adoption of ASU 2023-02 to have a material impact on its consolidated financial statements. In July 2023, the FASB issued ASU 2023-03, "Presentation of Financial Statements (Topic 205), Income Statement - Reporting Comprehensive Income (Topic 220), Distinguishing Liabilities from Equity (Topic 480), Equity (Topic 505), and Compensation - Stock Compensation (Topic 718)". This ASU amends the FASB Accounting Standards Codification for SEC paragraphs pursuant to SEC Staff Accounting Bulletin No. 120, SEC Staff Announcement at the March 24, 2022 EITF Meeting, and Staff Accounting Bulletin Topic 6.B, Accounting Series Release 280 - General Revision of Regulation S-X: Income or Loss Applicable to Common Stock. ASU 2023-03 is effective upon addition to the FASB Codification. The Company does not expect the adoption of ASU 2023-03 to have a material impact on its consolidated financial statements. Recently Adopted Accounting Developments In June 2016, the FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” The ASU, as amended, requires an entity to measure expected credit losses for financial assets carried at amortized cost based on historical experience, current conditions, and reasonable and supportable forecasts. Among other things, the ASU also amended the impairment model for available for sale securities and addressed purchased financial assets with deterioration. ASU 2016-13 was effective for the Company on January 1, 2023. The adjustment recorded at adoption to the overall allowance for credit losses, which consisted of adjustments to the allowance for credit losses on loans, as well as an adjustment to the Company’s reserve for unfunded loan commitments, was $ 2.5 million. The adjustment net of tax recorded to shareholders’ equity totaled $ 2.0 million. In March 2022, the FASB issued ASU No. 2022-02, “Financial Instruments-Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 addresses areas identified by the FASB as part of its post-implementation review of the credit losses standard (ASU 2016-13) that introduced the CECL model. The amendments eliminate the accounting guidance for troubled debt restructurings by creditors that have adopted the CECL model and enhance the disclosure requirements for loan refinancings and restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross write-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The amendments in this ASU should be applied prospectively, except for the transition method related to the recognition and measurement of TDRs, an entity has the option to apply a modified retrospective transition method, resulting in a cumulative-effect adjustment to retained earnings in the period of adoption. ASU 2022-02 was effective for the Company on January 1, 2023. |
Borrowings
Borrowings | 9 Months Ended |
Sep. 30, 2023 | |
Advance from Federal Home Loan Bank [Abstract] | |
Borrowings | NOTE 14. Borrowings On March 31, 2022, the Company entered into Subordinated Note Purchase Agreements with certain purchasers pursuant to which the Company issued and sold $ 30.0 million in aggregate principal amount of its 4.50 % Fixed-to-Floating Rate Subordinated Notes due April 1, 2032 (the “Notes”). The Company plans on using the net proceeds of the Notes offering for general corporate purposes, organic growth and to support the Bank’s regulatory capital ratios. The Notes were structured to qualify as Tier 2 capital for regulatory capital purposes at the holding company and bear an initial interest rate of 4.50 % until April 1, 2027 , with interest during this period payable semi-annually in arrears. From and including April 1, 2027, to but excluding the maturity date or early redemption date, the interest rate will reset quarterly to an annual floating rate equal to three-month SOFR, plus 2.35 %, with interest during this period paya ble quarterly in arrears. The Notes are redeemable by the Company at its option, in whole or in part, on or after April 1, 2027 . Initial debt issuance costs were $ 673 thousand. The debt balance of $ 30.0 million is presented net of unamortized issuance costs of $ 572 thousand at September 30, 2023. The Company had $ 145.0 million in total borrowings with the FHLB at September 30, 2023 , with zero being short-term borrowings and $ 145.0 million being long-term borrowings. The interest rates on the long-term borrowings with the FHLB ranged from 4.43 % to 4.83 %, with a weighted average rate of 4.65 %. Of the long-term FHLB borrowings, $ 50.0 million is due in 2024 , $ 55.0 million is due in 2025 and $ 40.0 million is due in 2026 . The Company had $ 175.0 million in short-term outstanding borrowings with the FHLB at December 31, 2022 . The Company had a $ 80.6 million irrevocable letter of credit at September 30, 2023 with the FHLB to secure public deposits. |
Derivatives
Derivatives | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivatives | NOTE 15. Derivatives The Company uses derivative financial instruments primarily to manage risks to the Company associated with changing interest rates, and to assist customers with their risk management objectives. Derivative contracts that are not designated in a qualifying hedging relationships include customer accommodation loan swaps. The Company enters into interest rate swaps with certain qualifying commercial loan customers to meet their interest rate risk management needs. The Bank simultaneously enters into interest rate swaps with dealer counterparties, with identical notional amounts and offsetting terms. The net result of these interest rate swaps is that the customer pays a fixed rate of interest and the Company receives a floating rate. These back-to-back loan swaps are derivative financial instruments and are reported at fair value in “other assets” and “other liabilities” in the Consolidated Balance Sheets. Changes in the fair value of loan swaps are recorded in other noninterest income and sum to zero because of the offsetting terms of the swaps with borrowers and the swaps with dealer counterparties. The following table summarize key elements of the Company's derivative instruments at September 30, 2023 and December 31, 2022. September 30, 2023 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 41,284 $ 1,781 $ 47 Matched interest rate swaps with counterparty 41,284 47 1,781 December 31, 2022 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 23,141 $ 1,017 $ — Matched interest rate swaps with counterparty 23,141 — 1,017 |
Business Segments
Business Segments | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 16. Business Segments The Company has two reportable operating segments: community banking and marine lending. Revenue from community banking operations consist primarily of net interest income related to investments in loan and securities and outstanding deposits and borrowings, fees earned on deposit accounts and debit card interchange activity. Revenue from marine lending operations consist primarily of net interest income related to commercial and consumer marine loans and gains on sales of loans. On August 23, 2023, the Company completed a sale of specific assets from its marine lending segment. As part of the sale, the Company sold its interest in marine vessel floor plan loans totaling $ 52.8 million, its rights to service loans that had been sold to secondary market investors prior to the date of sale (valued at $ 595.4 thousand on balance sheet prior to sale), and other assets that were not individually significant. The Company received total consideration, net of selling expenses, of $ 53.5 million and recognized a gain of $ 463 thousand. The assets sold as well as their related revenues and contribution to earnings did not constitute a significant portion of the Company's assets or operating results for the year-to-date period ending September 30, 2023. Subsequent to the sale of these assets, the Company retained ownership of its marine vessel retail loans which continue to constitute a significant portion of the Company's assets, revenues, and earnings. The Company expects to cease accepting new marine lending business and hold the retained outstanding loans until they are ultimately repaid. Financial information of the parent company and the Bank of Clarke Wealth Management Division is included in the "All Other" category. The parent company's revenue and expenses are comprised primarily of interest expense associated with subordinated debt. The wealth management division's net revenues are comprised primarily of income from offering wealth management services and insurance products through third-party service providers. The following table provides income and asset information as of September 30, 2023 and December 31, 2022 and for the three and nine months ended September 30, 2023 and September 30, 2022, which are included within the Consolidated Balance Sheets and Consolidated Statements of Income. The results by business segment are based on management’s accounting process, which assigns income statement items and assets to each operating segment. Given the Company's reportable segments are contained within the Bank, management must make certain allocations of expenses, which may not be representative of the costs expected to be incurred if the specific business segments operated as stand-alone entities. Subsequent to the third quarter of 2023 and going forward, the Company expects it will continue to evaluate its business segments and internal reporting structure, including the production of discrete financial information to the chief operating decision-maker. Three Months Ended September 30, 2023 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 17,779 $ 4,412 $ — $ — $ 22,191 Interest Expense 7,563 1,358 354 — 9,275 Net Interest Income (Expense) 10,216 3,054 ( 354 ) — 12,916 Gain on sales of loans 253 12 — — 265 Other noninterest income 1,741 1,013 1,190 — 3,944 Net Revenue 12,210 4,079 836 — 17,125 Provision for credit losses 453 ( 237 ) — — 216 Noninterest expense 11,131 2,285 717 — 14,133 Income before taxes 626 2,031 119 — 2,776 Income tax expense 2 427 28 — 457 Net Income $ 624 $ 1,604 $ 91 $ — $ 2,319 Other data: Capital expenditures $ 1,120 $ — $ — $ — $ 1,120 Depreciation and amortization 715 32 48 — 795 Three Months Ended September 30, 2022 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 12,449 $ 1,917 $ — $ — $ 14,366 Interest Expense 1,042 88 337 — 1,467 Net Interest Income (Expense) 11,407 1,829 ( 337 ) — 12,899 Gain on sales of loans 216 352 — — 568 Other noninterest income 1,476 25 1,095 — 2,596 Net Revenue 13,099 2,206 758 — 16,063 Provision for credit losses ( 202 ) 202 — — — Noninterest expense 9,243 1,155 660 — 11,058 Income before taxes 4,058 849 98 — 5,005 Income tax expense 724 178 21 — 923 Net Income $ 3,334 $ 671 $ 77 $ — $ 4,082 Other data: Capital expenditures $ — $ 162 $ — $ — $ 162 Depreciation and amortization 699 64 49 — 812 Nine Months Ended September 30, 2023 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 49,479 $ 11,634 $ — $ — $ 61,113 Interest Expense 18,015 4,033 1,063 — 23,111 Net Interest Income (Expense) 31,464 7,601 ( 1,063 ) — 38,002 Gain on sales of loans 589 324 — — 913 Other noninterest income 5,462 1,106 3,611 — 10,179 Net Revenue 37,515 9,031 2,548 — 49,094 Provision for credit losses 1,405 ( 122 ) — — 1,283 Noninterest expense 32,247 4,925 2,302 — 39,474 Income before taxes 3,863 4,228 246 — 8,337 Income tax expense 435 888 52 — 1,375 Net Income $ 3,428 $ 3,340 $ 194 $ — $ 6,962 Other data: Capital expenditures $ 1,091 $ 36 $ — $ — $ 1,127 Depreciation and amortization 989 224 145 — 1,358 Nine Months Ended September 30, 2022 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 33,906 $ 4,616 $ — $ — $ 38,522 Interest Expense 1,713 177 675 — 2,565 Net Interest Income (Expense) 32,193 4,439 ( 675 ) — 35,957 Gain on sales of loans 468 1,076 — — 1,544 Other noninterest income 5,575 60 3,077 — 8,712 Net Revenue 38,236 5,575 2,402 — 46,213 Provision for credit losses 388 512 — — 900 Noninterest expense 26,800 2,442 2,267 — 31,509 Income before taxes 11,048 2,621 135 — 13,804 Income tax expense 1,902 550 28 — 2,480 Net Income $ 9,146 $ 2,071 $ 107 $ — $ 11,324 Other data: Capital expenditures $ 307 $ 170 $ 16 $ — $ 493 Depreciation and amortization 974 157 128 — 1,259 Community Banking Marine Lending All Other Eliminations Consolidated Total assets at September 30, 2023 $ 1,530,922 $ 268,704 $ 1,844 $ — $ 1,801,470 Total assets at December 31, 2022 $ 1,377,461 $ 237,595 $ 1,661 $ — $ 1,616,717 |
Employee Stock Ownership Plan
Employee Stock Ownership Plan | 9 Months Ended |
Sep. 30, 2023 | |
Shares Held in Employee Stock Ownership Plan [Abstract] | |
Employee Stock Ownership Plan | NOTE 17. Employee Stock Ownership Plan During the second quarter, the Company’s employee stock ownership plan was terminated. As part of the termination process, which is ongoing, and as required by applicable law, participants have been offered the opportunity to direct the Company to repurchase of shares of Company stock distributed from the plan. Through September 30, 2023, 3,772 shares were repurchased and retired and 82,606 shares moved to participant accounts. |
Stock-Based Compensation Plan (
Stock-Based Compensation Plan (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Restricted Stock Activity | The following table presents restricted stock activity for the nine months ended September 30, 2023 and 2022: Nine Months Ended September 30, 2023 2022 Shares Weighted Shares Weighted Nonvested, beginning of period 38,780 $ 33.47 31,738 $ 30.70 Granted 37,941 36.60 31,648 34.40 Vested ( 17,302 ) 33.29 ( 12,468 ) 30.00 Forfeited ( 2,405 ) 36.80 ( 810 ) 29.69 Nonvested, end of period 57,014 $ 35.57 50,108 $ 33.72 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
Weighted Average Number Of Shares Used In Computing Earnings Per Share | The following table shows the weighted average number of shares used in computing earnings per share for the three and nine months ended September 30, 2023 and 2022. During 2023 and 2022 , there were no potentially dilutive securities outstanding. Three Months Ended Nine Months Ended September 30, September 30, 2023 2022 2023 2022 Average number of common shares outstanding used to calculate basic and diluted earnings per share 3,526,943 3,487,555 3,524,441 3,479,876 |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Debt Securities, Available-for-Sale [Abstract] | |
Amortized Costs and Fair Values of Securities Available for Sale | Amortized costs and fair values of securities available for sale at September 30, 2023 and December 31, 2022 were as follows: Amortized Gross Gross Fair Value September 30, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ 9,259 $ — $ ( 1,011 ) $ 8,248 Mortgage-backed securities 143,206 — ( 27,616 ) 115,590 Obligations of states and political subdivisions 6,591 — ( 423 ) 6,168 Subordinated debt 4,750 — ( 780 ) 3,970 $ 163,806 $ — $ ( 29,830 ) $ 133,976 December 31, 2022 (in thousands) Obligations of U.S. government corporations and agencies $ 9,993 $ — $ ( 858 ) $ 9,135 Mortgage-backed securities 153,289 — ( 24,136 ) 129,153 Obligations of states and political subdivisions 7,027 2 ( 422 ) 6,607 Subordinated debt 4,750 — ( 489 ) 4,261 $ 175,059 $ 2 $ ( 25,905 ) $ 149,156 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of securities at September 30, 2023 , by the earlier of contractual maturity or expected maturity, are shown below. The Company has elected to exclude accrued interest receivable, totaling $ 396 thousand at September 30, 2023, from the amortized cost basis of securities. Expected maturities will differ from contractual maturities because borrowers may have the right to prepay obligations with or without call or prepayment penalties. Amortized Cost Fair Value (in thousands) Due in one year or less $ 1,667 $ 1,646 Due after one year through five years 5,124 4,705 Due after five years through ten years 20,776 18,124 Due after ten years 136,239 109,501 $ 163,806 $ 133,976 |
Fair Value and Gross Unrealized Losses for Securities Available for Sale | The fair value and gross unrealized losses for securities available for sale, totaled by the length of time that individual securities have been in a continuous gross unrealized loss position, at September 30, 2023 and December 31, 2022 were as follows: Less than 12 months 12 months or more Total Fair Value Gross Fair Value Gross Fair Value Gross September 30, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ — $ — $ 8,248 $ 1,011 $ 8,248 $ 1,011 Mortgage-backed securities — — 115,590 27,616 115,590 27,616 Obligations of states and political subdivisions 485 16 5,283 407 5,768 423 Subordinated debt 218 32 3,252 748 3,470 780 $ 703 $ 48 $ 132,373 $ 29,782 $ 133,076 $ 29,830 Less than 12 months 12 months or more Total Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses Fair Value Gross Unrealized Losses December 31, 2022 (in thousands) Obligations of U.S. government corporations and agencies $ 6,140 $ 543 $ 2,994 $ 315 $ 9,134 $ 858 Mortgage-backed securities 31,771 4,052 97,382 20,084 129,153 24,136 Obligations of states and political subdivisions 6,065 422 — — 6,065 422 Subordinated debt 2,431 319 1,080 170 3,511 489 $ 46,407 $ 5,336 $ 101,456 $ 20,569 $ 147,863 $ 25,905 |
Schedule Composition of Restricted Investments | The composition of restricted investments at September 30, 2023 and December 31, 2022 was as follows: September 30, 2023 December 31, 2022 (in thousands) Federal Reserve Bank Stock $ 344 $ 944 Federal Home Loan Bank Stock 8,099 8,149 Community Bankers’ Bank Stock 140 140 $ 8,583 $ 9,233 |
Loans and Allowance for Loan _2
Loans and Allowance for Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Schedule Of Composition Of Loans | The composition of loans at September 30, 2023 and December 31, 2022 was as follows: September 30, December 31, 2023 2022 (in thousands) Mortgage real estate loans: Construction & Secured by Farmland $ 80,012 $ 89,651 HELOCs 44,719 43,588 Residential First Lien - Investor 120,547 111,074 Residential First Lien - Owner Occupied 162,919 125,088 Residential Junior Liens 12,284 11,417 Commercial - Owner Occupied 244,088 232,115 Commercial - Non-Owner Occupied & Multifamily 355,122 315,326 Commercial and industrial loans: SBA PPP loans 57 74 Other commercial and industrial loans 96,830 99,571 Marine loans 260,518 230,874 Consumer loans 42,538 44,841 Overdrafts 207 218 Other loans 13,089 12,503 Total loans $ 1,432,930 $ 1,316,340 Net deferred loan costs and premiums 8,055 7,443 Allowance for credit losses ( 14,573 ) ( 11,218 ) $ 1,426,412 $ 1,312,565 |
Changes In Allowance For Loan Losses | Changes in the allowance for credit losses on loans for the three and nine months ended September 30, 2023 and 2022 were as follows: Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2023 2022 2023 2022 (in thousands) Balance, beginning $ 14,511 $ 9,847 $ 11,218 $ 8,787 Cumulative effect adjustment for adoption of ASC 326 — — 2,077 — Provision for credit losses 218 — 1,337 900 Recoveries added to the allowance 31 976 255 1,224 Credit losses charged to the allowance ( 187 ) ( 81 ) ( 314 ) ( 169 ) Balance, ending $ 14,573 $ 10,742 $ 14,573 $ 10,742 |
Nonaccrual And Past Due Loans By Class | Nonaccrual and past due loans by class at September 30, 2023 were as follows: September 30, 2023 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ — $ — $ 80,012 $ 80,012 $ — HELOCs 124 — — 124 44,595 44,719 — Residential First Lien - Investor — — — — 120,547 120,547 — Residential First Lien - Owner Occupied 114 48 36 198 162,721 162,919 — Residential Junior Liens 9 — — 9 12,275 12,284 — Commercial - Owner Occupied — — — — 244,088 244,088 — Commercial - Non-Owner Occupied & Multifamily — — — — 355,122 355,122 — Commercial and industrial loans: SBA PPP loans — — — — 57 57 — Other commercial and industrial loans — 90 234 324 96,506 96,830 — Marine loans — 5 367 372 260,146 260,518 — Consumer loans 261 86 66 413 42,125 42,538 66 Overdrafts — — — — 207 207 — Other loans — — — — 13,089 13,089 — Total $ 508 $ 229 $ 703 $ 1,440 $ 1,431,490 $ 1,432,930 $ 66 September 30, 2023 (in thousands) Nonaccruals with No Allowance for Credit Losses Nonaccrual with an Allowance for Credit Losses Nonaccrual Mortgage real estate loans: Construction & Secured by Farmland $ 97 $ — $ 97 HELOCs 15 — 15 Residential First Lien - Investor 1,093 — 1,093 Residential First Lien - Owner Occupied 115 — 115 Residential Junior Liens 3 — 3 Commercial - Owner Occupied 27 — 27 Commercial - Non-Owner Occupied & Multifamily 3,656 — 3,656 Commercial and industrial loans: SBA PPP loans — — — Other commercial and industrial loans 12 312 324 Marine loans 367 — 367 Consumer loans — — — Overdrafts — — — Other loans — — — Total $ 5,385 $ 312 $ 5,697 Nonaccrual and past due loans by class at December 31, 2022 were as follows: December 31, 2022 (in thousands) 30 - 59 60 - 89 90 or More Total Past Current Total Loans 90 or More Nonaccrual Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ 101 $ 101 $ 89,550 $ 89,651 $ — $ 397 HELOCs 149 — — 149 43,439 43,588 — 155 Residential First Lien - Investor — — — — 111,074 111,074 — — Residential First Lien - Owner Occupied 222 — 39 261 124,827 125,088 — 175 Residential Junior Liens — — — — 11,417 11,417 — 6 Commercial - Owner Occupied — — — — 232,115 232,115 — — Commercial - Non-Owner Occupied & Multifamily — — — — 315,326 315,326 — 1,356 Commercial and industrial loans: SBA PPP loans — — — — 74 74 — — Other commercial and industrial loans 15 — 73 88 99,483 99,571 — 73 Marine loans — — — — 230,874 230,874 — — Consumer loans 56 — 318 374 44,467 44,841 318 — Overdrafts — — — — 218 218 — — Other loans — — — — 12,503 12,503 — — Total $ 442 $ — $ 531 $ 973 $ 1,315,367 $ 1,316,340 $ 318 $ 2,162 |
Allowance for credit losses on loans by segment | The allowance for credit losses on loans by segment at September 30, 2023 and December 31, 2022 was as follows: As of and For the Nine Months Ended September 30, 2023 (in thousands) Construction Residential Commercial Commercial Marine Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 2,714 $ 1,735 $ 2,221 $ 2,222 $ 1,555 $ 299 $ 472 $ — $ 11,218 Cumulative effect adjustment for adoption of ASC 326 $ ( 1,840 ) $ 1,933 $ 3,584 $ ( 1,102 ) $ ( 285 ) $ ( 123 ) $ ( 90 ) $ — $ 2,077 Charge-Offs — — — — ( 126 ) ( 38 ) ( 150 ) — ( 314 ) Recoveries 5 14 — 13 — 45 178 — 255 Provision ( 134 ) 765 496 92 289 48 ( 28 ) ( 191 ) 1,337 Ending balance $ 745 $ 4,447 $ 6,301 $ 1,225 $ 1,433 $ 231 $ 382 $ ( 191 ) $ 14,573 Ending balance: Individually evaluated $ — $ — $ — $ 312 $ — $ — $ — $ — $ 312 Ending balance: collectively evaluated $ 745 $ 4,447 $ 6,301 $ 913 $ 1,433 $ 231 $ 382 $ ( 191 ) $ 14,261 Loans: Ending balance $ 80,012 $ 340,469 $ 599,210 $ 96,887 $ 260,518 $ 42,538 $ 13,296 $ — $ 1,432,930 Ending balance individually evaluated $ 96 $ 1,172 $ 3,672 $ 312 $ 430 $ — $ — $ — $ 5,682 Ending balance collectively evaluated $ 79,916 $ 339,297 $ 595,538 $ 96,575 $ 260,088 $ 42,538 $ 13,296 $ — $ 1,427,248 As of and For the Year Ended December 31, 2022 (in thousands) Construction Residential Commercial Commercial Marine Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 2,794 $ 1,671 $ 1,729 $ 1,294 $ 789 $ 219 $ 291 $ — $ 8,787 Charge-Offs — ( 9 ) — ( 300 ) — ( 79 ) ( 271 ) — ( 659 ) Recoveries 9 888 197 109 — 44 13 — 1,260 Provision ( 89 ) ( 815 ) 295 1,119 766 115 439 — 1,830 Ending balance $ 2,714 $ 1,735 $ 2,221 $ 2,222 $ 1,555 $ 299 $ 472 $ — $ 11,218 Ending balance: Individually evaluated for impairment $ — $ 27 $ — $ 73 $ — $ — $ — $ — $ 100 Ending balance: collectively evaluated for impairment $ 2,714 $ 1,708 $ 2,221 $ 2,149 $ 1,555 $ 299 $ 472 $ — $ 11,118 Loans: Ending balance $ 89,651 $ 291,167 $ 547,441 $ 99,645 $ 230,874 $ 44,841 $ 12,721 $ — $ 1,316,340 Ending balance individually evaluated for impairment $ 1,044 $ 3,719 $ 1,695 $ 141 $ — $ 22 $ — $ — $ 6,621 Ending balance collectively evaluated for impairment $ 88,607 $ 287,448 $ 545,746 $ 99,504 $ 230,874 $ 44,819 $ 12,721 $ — $ 1,309,719 |
Amortized cost basis of collateral-dependent loans by loan portfolio segment | The following table presents the amortized cost basis of collateral-dependent loans by loan portfolio segment: September 30, 2023 (in thousands) (in thousands) Real Estate Collateral Other Collateral Total Mortgage real estate loans: Construction & Secured by Farmland $ 96 $ — $ 96 HELOCs — — — Residential First Lien - Investor 1,093 — 1,093 Residential First Lien - Owner Occupied 79 — 79 Residential Junior Liens — — — Commercial - Owner Occupied 16 — 16 Commercial - Non-Owner Occupied & Multifamily 3,656 — 3,656 Commercial and industrial loans: SBA PPP loans — — — Other commercial and industrial loans — 312 312 Marine loans — 430 430 Consumer loans — — — Overdrafts — — — Other loans — — — $ 4,940 $ 742 $ 5,682 |
Credit Quality Information By Class | Credit quality information by class at September 30, 2023 and December 31, 2022 was as follows: September 30, 2023 Term Loan Amortized Cost Basis by Origination Year (in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage real estate loans: Construction & Secured by Farmland Pass $ 26,098 $ 23,622 $ 6,921 $ 5,418 $ 2,423 $ 3,682 $ 7,532 $ — $ 75,696 Special Mention — 1,179 985 — 1,048 821 — — 4,033 Classified — — — 147 — 136 — — 283 Total $ 26,098 $ 24,801 $ 7,906 $ 5,565 $ 3,471 $ 4,639 $ 7,532 $ — $ 80,012 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — HELOCs Pass $ — $ — $ — $ — $ — $ — $ 44,654 $ — $ 44,654 Special Mention — — — — — — 49 — 49 Classified — — — — — — 16 — 16 Total $ — $ — $ — $ — $ — $ — $ 44,719 $ — $ 44,719 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Investor Pass $ 16,530 $ 26,717 $ 32,126 $ 11,375 $ 4,754 $ 24,517 $ — $ — $ 116,019 Special Mention — 1,670 233 626 — 907 — — 3,436 Classified — — 1,092 — — — — — 1,092 Total $ 16,530 $ 28,387 $ 33,451 $ 12,001 $ 4,754 $ 25,424 $ — $ — $ 120,547 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Owner Occupied Pass $ 43,193 $ 31,810 $ 24,017 $ 36,231 $ 4,040 $ 22,299 $ — $ — $ 161,590 Special Mention — — — — — 472 — — 472 Classified — — — — — 857 — — 857 Total $ 43,193 $ 31,810 $ 24,017 $ 36,231 $ 4,040 $ 23,628 $ — $ — $ 162,919 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Junior Liens Pass $ 1,766 $ 2,969 $ 3,499 $ 1,515 $ 653 $ 1,844 $ — $ — $ 12,246 Special Mention — — — — — — — — — Classified — — — — — 38 — — 38 Total $ 1,766 $ 2,969 $ 3,499 $ 1,515 $ 653 $ 1,882 $ — $ — $ 12,284 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Owner Occupied Pass $ 26,226 $ 68,359 $ 42,515 $ 26,101 $ 16,245 $ 51,463 $ 2,670 $ — $ 233,579 Special Mention — 1,882 67 2,161 1,087 1,422 — — 6,619 Classified — — 3,362 501 — 27 — — 3,890 Total $ 26,226 $ 70,241 $ 45,944 $ 28,763 $ 17,332 $ 52,912 $ 2,670 $ — $ 244,088 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Non-Owner Occupied & Multifamily Pass $ 52,459 $ 93,832 $ 66,232 $ 74,303 $ 17,044 $ 44,118 $ 1,196 $ — $ 349,184 Special Mention — — 2,282 — — — — — 2,282 Classified — — — 2,368 — 1,288 — — 3,656 Total $ 52,459 $ 93,832 $ 68,514 $ 76,671 $ 17,044 $ 45,406 $ 1,196 $ — $ 355,122 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial and industrial loans: SBA PPP loans Pass $ — $ — $ 57 $ — $ — $ — $ — $ — $ 57 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ — $ 57 $ — $ — $ — $ — $ — $ 57 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial and industrial loans Pass $ 13,637 $ 28,991 $ 9,264 $ 2,182 $ 2,870 $ 4,130 $ 31,256 $ — $ 92,330 Special Mention 1,529 — — — 1 10 2,636 — 4,176 Classified 231 81 — 3 — — 9 — 324 Total $ 15,397 $ 29,072 $ 9,264 $ 2,185 $ 2,871 $ 4,140 $ 33,901 $ — $ 96,830 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Marine loans Pass $ 90,224 $ 132,659 $ 36,594 $ 674 $ — $ — $ — $ — $ 260,151 Special Mention — — — — — — — — — Classified 367 — — — — — — — 367 Total $ 90,591 $ 132,659 $ 36,594 $ 674 $ — $ — $ — $ — $ 260,518 Current period gross charge-offs $ — $ 126 $ — $ — $ — $ — $ — $ — $ 126 Consumer loans Pass $ 2,542 $ 14,375 $ 6,416 $ 9,032 $ 1,810 $ 37 $ 8,326 $ — $ 42,538 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 2,542 $ 14,375 $ 6,416 $ 9,032 $ 1,810 $ 37 $ 8,326 $ — $ 42,538 Current period gross charge-offs $ — $ 3 $ — $ — $ — $ — $ 35 $ — $ 38 Overdrafts Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Classified 207 — — — — — — — 207 Total $ 207 $ — $ — $ — $ — $ — $ — $ — $ 207 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ 150 $ — $ 150 Other loans Pass $ 72 $ 10,173 $ 30 $ 9 $ — $ 2,685 $ 120 $ — $ 13,089 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 72 $ 10,173 $ 30 $ 9 $ — $ 2,685 $ 120 $ — $ 13,089 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total by Risk Category Pass $ 272,747 $ 433,507 $ 227,671 $ 166,840 $ 49,839 $ 154,775 $ 95,754 $ — $ 1,401,133 Special Mention 1,529 4,731 3,567 2,787 2,136 3,632 2,685 — 21,067 Classified 805 81 4,454 3,019 — 2,346 25 — 10,730 Total $ 275,081 $ 438,319 $ 235,692 $ 172,646 $ 51,975 $ 160,753 $ 98,464 $ — $ 1,432,930 Total current period gross charge-offs $ — $ 129 $ — $ — $ — $ — $ 185 $ — $ 314 As of December 31, 2022 (in thousands) INTERNAL RISK RATING GRADES Pass Special Substandard Doubtful Loss Total Commercial - Non Real Estate: Commercial & Industrial $ 247,061 $ 526 $ 72 $ — $ — $ 247,659 Commercial Real Estate: Owner Occupied 212,074 20,020 21 — — 232,115 Non-owner occupied 257,625 16,189 1,706 — — 275,520 Construction and Farm land: Residential 11,235 — 21 — — 11,256 Commercial 69,427 153 8,815 — — 78,395 Residential: Equity Lines 43,124 310 154 — — 43,588 Single family 251,247 5,972 951 — — 258,170 Multifamily 39,806 — — — — 39,806 All other loans 12,721 — — — — 12,721 Total $ 1,144,320 $ 43,170 $ 11,740 $ — $ — $ 1,199,230 Performing Nonperforming Consumer Credit Exposure by Payment Activity $ 116,908 $ 202 |
Restructurings for Borrowers _2
Restructurings for Borrowers Experiencing Financial Difficulty (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Modified amortized cost of loans | The following table presents the amortized cost of loans that were modified during the nine months ended September 30, 2023 by loan portfolio segment: September 30, 2023 (in thousands) Term Extension Total % of Total Class of Loans Mortgage real estate loans: Residential First Lien - Owner Occupied $ 355 $ 355 0.22 % Total $ 355 $ 355 |
Schedule of Troubled Debt Restructurings on Financing Receivables | During the three and nine months ended September 30, 2022, the Company classified five and 11 loans, respectively as troubled debt restructurings. Three Months Ended September 30, 2022 (in thousands) Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Consumer: Installment 1 $ 20 $ 21 Residential: Single Family 4 894 894 Total 5 $ 914 $ 915 Nine Months Ended September 30, 2022 (in thousands) Number of Pre-Modification Outstanding Post-Modification Outstanding Commercial Real Estate: Owner Occupied 1 $ 185 $ 185 Non-Owner Occupied 1 161 161 Construction and Farmland: Commercial 1 639 639 Consumer: Installment 1 20 21 Residential: Single family 7 1,433 1,451 Total 11 $ 2,438 $ 2,457 |
Deposits (Tables)
Deposits (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Deposits [Abstract] | |
Composition of Deposits | The composition of deposits at September 30, 2023 and December 31, 2022 was as follows: September 30, 2023 December 31, 2022 (in thousands) Noninterest bearing demand deposits $ 430,910 $ 478,750 Savings and interest bearing demand deposits: NOW accounts $ 188,330 $ 167,197 Money market accounts 325,712 220,498 Regular savings accounts 142,069 239,736 $ 656,111 $ 627,431 Time deposits: Balances of less than $250,000 $ 265,856 $ 87,531 Balances of $250,000 and more 145,503 70,363 $ 411,359 $ 157,894 $ 1,498,380 $ 1,264,075 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Assets And Liabilities, Lessee | The following tables present information about the Company’s leases: (dollars in thousands) September 30, 2023 December 31, 2022 Lease liabilities $ 4,736 $ 4,978 Right-of-use assets $ 4,482 $ 4,766 Weighted average remaining lease term 14 years 14 years Weighted average discount rate 3.08 % 3.04 % Three Months Ended Nine Months Ended Lease Cost September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease cost $ 132 $ 132 $ 396 $ 396 Short-term lease cost 4 3 11 11 Total lease cost $ 136 $ 135 $ 407 $ 407 Cash paid for amounts included in the measurement of lease liabilities $ 118 $ 116 $ 354 $ 348 |
Lessee, Operating Lease, Liability, Maturity | A maturity analysis of operating lease liabilities and reconciliation of the undiscounted cash flows to the total operating lease liabilities is as follows: (dollars in thousands) As of Lease payments due September 30, 2023 Twelve months ending September 30, 2024 $ 478 Twelve months ending September 30, 2025 497 Twelve months ending September 30, 2026 428 Twelve months ending September 30, 2027 390 Twelve months ending September 30, 2028 394 Thereafter 3,853 Total undiscounted cash flows $ 6,040 Discount ( 1,304 ) Lease liabilities $ 4,736 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis | The following table presents balances of financial assets and liabilities measured at fair value on a recurring basis at September 30, 2023 and December 31, 2022: Fair Value Measurements at September 30, 2023 Using Balance as of Quoted Prices Significant Significant September 30, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 8,248 $ — $ 8,248 $ — Mortgage-backed securities 115,590 — 115,590 — Obligations of states and political subdivisions 6,168 — 6,168 — Subordinated debt 3,970 — 3,970 — Derivative: Interest rate swaps 1,828 — 1,828 — Total assets at fair value $ 135,804 $ — $ 135,804 $ — Liabilities: Interest rate swaps $ 1,828 $ — $ 1,828 $ — Total liabilities at fair value $ 1,828 $ — $ 1,828 $ — Fair Value Measurements at December 31, 2022 Balance as of Quoted Prices Significant Significant December 31, 2022 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 9,135 $ — $ 9,135 $ — Mortgage-backed securities 129,153 — 129,153 — Obligations of states and political subdivisions 6,607 — 6,607 — Subordinated debt 4,261 — 4,261 — Derivative: Interest rate swap 1,017 — 1,017 — Total assets at fair value $ 150,173 $ — $ 150,173 $ — Liabilities: Interest rate swap 1,017 — 1,017 — Total liabilities at fair value $ 1,017 $ — $ 1,017 $ — |
Quantitative Information About Level 3 Fair Value Measurements For Certain Financial Assets | The following table displays quantitative information about Level 3 Fair Value Measurements for certain assets measured at fair value on a nonrecurring basis at December 31, 2022: Quantitative information about Level 3 Fair Value Measurements December 31, 2022 Valuation Technique(s) Unobservable Input Range Weighted Average (1) Assets: Other real estate owned Discounted contract price Discount for selling costs 6 % 6 % (1) Unobservable inputs were weighted by the relative fair values of the instruments. |
Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis | The following table summarizes the Company’s assets that were measured at fair value on a nonrecurring basis at December 31, 2022: Carrying value at December 31, 2022 Balance as of Quoted Prices Significant Significant December 31, 2022 (Level 1) (Level 2) (Level 3) (in thousands) Nonfinancial Assets: Other real estate owned $ 108 $ — $ 108 $ — |
Company's Financial Instruments | The carrying value and fair value of the Company’s financial instruments at September 30, 2023 and December 31, 2022 were as follows: Fair Value Measurements at September 30, 2023 Using Carrying Quoted Prices Significant Significant Fair Value September 30, 2023 (Level 1) (Level 2) (Level 3) September 30, 2023 (in thousands) Financial assets: Cash and short-term investments $ 142,038 $ 142,038 $ — $ — $ 142,038 Securities 133,976 — 133,976 — 133,976 Restricted Investments 8,583 — 8,583 — 8,583 Loans held for sale 3,564 3,564 — 3,564 Loans, net 1,426,412 — — 1,356,742 1,356,742 Bank owned life insurance 24,404 — 24,404 — 24,404 Accrued interest receivable 4,794 — 4,794 — 4,794 Interest rate swaps 1,828 — 1,828 — 1,828 Financial liabilities: Deposits $ 1,498,380 $ — $ 1,495,212 $ — $ 1,495,212 Federal Home Loan Bank advances, long-term 145,000 — 144,125 — 144,125 Subordinated debt, net of unamortized issuance costs 29,428 — 25,602 — 25,602 Accrued interest payable 1,970 — 1,970 — 1,970 Interest rate swaps 1,828 — 1,828 — 1,828 Fair Value Measurements at December 31, 2022 Using Carrying Value Quoted Prices Significant Significant Fair Value December 31, 2022 (Level 1) (Level 2) (Level 3) December 31, 2022 (in thousands) Financial assets: Cash and short-term investments $ 66,894 $ 66,894 $ — $ — $ 66,894 Securities 149,156 — 149,156 — 149,156 Restricted Investments 9,233 — 9,233 — 9,233 Loans held for sale 153 153 — 153 Loans, net 1,312,565 — — 1,260,149 1,260,149 Bank owned life insurance 23,862 — 23,862 — 23,862 Accrued interest receivable 3,902 — 3,902 — 3,902 Interest rate swap 1,017 — 1,017 — 1,017 Financial liabilities: Deposits $ 1,264,075 $ — $ 1,262,859 $ — $ 1,262,859 Federal funds purchased 32,980 — 32,980 — 32,980 Federal Home Loan Bank advances, short-term 175,000 — 174,705 — 174,705 Subordinated debt, net of unamortized issuance costs 29,377 — 26,101 — 26,101 Accrued interest payable 926 — 926 — 926 Interest rate swap 1,017 — 1,017 — 1,017 |
Change in Accumulated Other C_2
Change in Accumulated Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Changes To Accumulated Other Comprehensive Income By Components | Changes to accumulated other comprehensive income (loss) by component are shown in the following table for the periods indicated: Three Months Ended September 30, 2023 2022 Unrealized Change in Total Unrealized Change in Total (dollars in thousands) (dollars in thousands) July 1 $ ( 19,430 ) $ 14 $ ( 19,416 ) $ ( 16,775 ) $ 19 $ ( 16,756 ) Other comprehensive (loss) before reclassifications ( 5,237 ) — ( 5,237 ) ( 6,401 ) — ( 6,401 ) Reclassifications — — — 737 — 737 Tax effect of current period changes 1,100 — 1,100 1,189 — 1,189 Current period changes net of taxes ( 4,137 ) — ( 4,137 ) ( 4,475 ) — ( 4,475 ) September 30 $ ( 23,567 ) $ 14 $ ( 23,553 ) $ ( 21,250 ) $ 19 $ ( 21,231 ) Nine Months Ended September 30, 2023 2022 Unrealized Change in Total Unrealized Change in Total (dollars in thousands) (dollars in thousands) January 1 $ ( 20,465 ) $ 19 $ ( 20,446 ) $ ( 174 ) $ 19 $ ( 155 ) Other comprehensive income (loss) before reclassifications ( 3,927 ) ( 8 ) ( 3,935 ) ( 27,416 ) — ( 27,416 ) Reclassifications — — — 737 — 737 Tax effect of current period changes 825 3 828 5,603 — 5,603 Current period changes net of taxes ( 3,102 ) ( 5 ) ( 3,107 ) ( 21,076 ) — ( 21,076 ) September 30 $ ( 23,567 ) $ 14 $ ( 23,553 ) $ ( 21,250 ) $ 19 $ ( 21,231 ) |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Real Estate [Abstract] | |
Other Real Estate Owned Rollforward | The following table is a summary of other real estate owned (“OREO”) activity for the nine months ended September 30, 2023 and 2022 and the year ended December 31, 2022: Nine Months Ended Year Ended Nine Months Ended September 30, December 31, September 30, 2023 2022 2022 (in thousands) Balance, beginning $ 108 $ — $ — Transfer from loans — 108 — Gain on foreclosures — — — Sales ( 108 ) — — Valuation adjustments — — — Balance, ending $ — $ 108 $ — |
Schedule of Real Estate Properties | The major classifications of other real estate owned in the consolidated balance sheets at December 31, 2022 were as follows: December 31, 2022 (in thousands) Construction and Farmland $ — Residential Real Estate 108 Commercial Real Estate — Subtotal $ 108 Less valuation allowance — Total $ 108 |
Derivatives (Tables)
Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Summarize Key Elements of Derivative Instruments | The following table summarize key elements of the Company's derivative instruments at September 30, 2023 and December 31, 2022. September 30, 2023 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 41,284 $ 1,781 $ 47 Matched interest rate swaps with counterparty 41,284 47 1,781 December 31, 2022 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 23,141 $ 1,017 $ — Matched interest rate swaps with counterparty 23,141 — 1,017 |
Business Segments (Tables)
Business Segments (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Segment Reporting [Abstract] | |
Schedule of reportable operating segments | The following table provides income and asset information as of September 30, 2023 and December 31, 2022 and for the three and nine months ended September 30, 2023 and September 30, 2022, which are included within the Consolidated Balance Sheets and Consolidated Statements of Income. The results by business segment are based on management’s accounting process, which assigns income statement items and assets to each operating segment. Given the Company's reportable segments are contained within the Bank, management must make certain allocations of expenses, which may not be representative of the costs expected to be incurred if the specific business segments operated as stand-alone entities. Subsequent to the third quarter of 2023 and going forward, the Company expects it will continue to evaluate its business segments and internal reporting structure, including the production of discrete financial information to the chief operating decision-maker. Three Months Ended September 30, 2023 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 17,779 $ 4,412 $ — $ — $ 22,191 Interest Expense 7,563 1,358 354 — 9,275 Net Interest Income (Expense) 10,216 3,054 ( 354 ) — 12,916 Gain on sales of loans 253 12 — — 265 Other noninterest income 1,741 1,013 1,190 — 3,944 Net Revenue 12,210 4,079 836 — 17,125 Provision for credit losses 453 ( 237 ) — — 216 Noninterest expense 11,131 2,285 717 — 14,133 Income before taxes 626 2,031 119 — 2,776 Income tax expense 2 427 28 — 457 Net Income $ 624 $ 1,604 $ 91 $ — $ 2,319 Other data: Capital expenditures $ 1,120 $ — $ — $ — $ 1,120 Depreciation and amortization 715 32 48 — 795 Three Months Ended September 30, 2022 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 12,449 $ 1,917 $ — $ — $ 14,366 Interest Expense 1,042 88 337 — 1,467 Net Interest Income (Expense) 11,407 1,829 ( 337 ) — 12,899 Gain on sales of loans 216 352 — — 568 Other noninterest income 1,476 25 1,095 — 2,596 Net Revenue 13,099 2,206 758 — 16,063 Provision for credit losses ( 202 ) 202 — — — Noninterest expense 9,243 1,155 660 — 11,058 Income before taxes 4,058 849 98 — 5,005 Income tax expense 724 178 21 — 923 Net Income $ 3,334 $ 671 $ 77 $ — $ 4,082 Other data: Capital expenditures $ — $ 162 $ — $ — $ 162 Depreciation and amortization 699 64 49 — 812 Nine Months Ended September 30, 2023 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 49,479 $ 11,634 $ — $ — $ 61,113 Interest Expense 18,015 4,033 1,063 — 23,111 Net Interest Income (Expense) 31,464 7,601 ( 1,063 ) — 38,002 Gain on sales of loans 589 324 — — 913 Other noninterest income 5,462 1,106 3,611 — 10,179 Net Revenue 37,515 9,031 2,548 — 49,094 Provision for credit losses 1,405 ( 122 ) — — 1,283 Noninterest expense 32,247 4,925 2,302 — 39,474 Income before taxes 3,863 4,228 246 — 8,337 Income tax expense 435 888 52 — 1,375 Net Income $ 3,428 $ 3,340 $ 194 $ — $ 6,962 Other data: Capital expenditures $ 1,091 $ 36 $ — $ — $ 1,127 Depreciation and amortization 989 224 145 — 1,358 Nine Months Ended September 30, 2022 Community Banking Marine Lending All Other Eliminations Consolidated (in thousands) Interest Income $ 33,906 $ 4,616 $ — $ — $ 38,522 Interest Expense 1,713 177 675 — 2,565 Net Interest Income (Expense) 32,193 4,439 ( 675 ) — 35,957 Gain on sales of loans 468 1,076 — — 1,544 Other noninterest income 5,575 60 3,077 — 8,712 Net Revenue 38,236 5,575 2,402 — 46,213 Provision for credit losses 388 512 — — 900 Noninterest expense 26,800 2,442 2,267 — 31,509 Income before taxes 11,048 2,621 135 — 13,804 Income tax expense 1,902 550 28 — 2,480 Net Income $ 9,146 $ 2,071 $ 107 $ — $ 11,324 Other data: Capital expenditures $ 307 $ 170 $ 16 $ — $ 493 Depreciation and amortization 974 157 128 — 1,259 Community Banking Marine Lending All Other Eliminations Consolidated Total assets at September 30, 2023 $ 1,530,922 $ 268,704 $ 1,844 $ — $ 1,801,470 Total assets at December 31, 2022 $ 1,377,461 $ 237,595 $ 1,661 $ — $ 1,616,717 |
General (Additional Information
General (Additional Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2023 | Jan. 01, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||
Ownership percentage in subsidiaries | 100% | 100% | ||
Adjustment to retained earnings, net of deferred income taxes, and adjustments to the allowance for credit losses on loans | $ 2,000 | |||
Net of deferred taxes | $ 521 | |||
Accrued interest receivable | $ 4,400 | $ 4,400 | ||
Accrued interest receivables | 396 | 396 | ||
Reserve credit losses for Unfunded Commitments | 417 | 417 | $ 65 | |
initial adjustment for the adoption of credit losses for Unfunded Commitments | 406 | |||
Provision for Other Credit Losses | $ 0 | $ (54) |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 9 Months Ended | |
Sep. 30, 2023 | May 16, 2023 | |
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Stock incentive plan, authorized common stock | 250,000 | |
Unrecognized compensation cost related to unvested Restricted Stock | $ 759 | |
Directors [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Vesting service period of grants | 1 year | |
Service Period [Member] | Officer [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Vesting service period of grants | 3 years | |
Service Period [Member] | Executive Officer [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Vesting service period of grants | 3 years | |
Performance Measure [Member] | Executive Officer [Member] | ||
Share Based Compensation Arrangement By Share Based Payment Award [Line Items] | ||
Vesting service period of grants | 2 years |
Stock-Based Compensation Plan_2
Stock-Based Compensation Plan (Restricted Stock Activity) (Details) - $ / shares | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | ||
Shares, Nonvested, beginning of period | 38,780 | 31,738 |
Shares, Granted | 37,941 | 31,648 |
Shares, Vested | (17,302) | (12,468) |
Shares, Forfeited | (2,405) | (810) |
Shares, Nonvested, end of period | 57,014 | 50,108 |
Weighted Average Grant Date Fair Value, Nonvested, beginning of period | $ 33.47 | $ 30.7 |
Weighted Average Grant Date Fair Value, Granted | 36.6 | 34.4 |
Weighted Average Grant Date Fair Value, Vested | 33.29 | 30 |
Weighted average Grant Date Fair Value, Forfeited | 36.8 | 29.69 |
Weighted Average Grant Date Fair Value, Nonvested, end of period | $ 35.57 | $ 33.72 |
Earnings Per Common Share (Weig
Earnings Per Common Share (Weighted Average Number Of Shares Used In Computing Earnings Per Share) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Earnings Per Share [Abstract] | ||||
Potentially dilutive securities outstanding | 0 | 0 | 0 | 0 |
Average number of common shares outstanding used to calculate basic earnings per share | 3,526,943 | 3,487,555 | 3,524,441 | 3,479,876 |
Average number of common shares outstanding used to calculate diluted earnings per share | 3,526,943 | 3,487,555 | 3,524,441 | 3,479,876 |
Securities - (Amortized Costs a
Securities - (Amortized Costs and Fair Values of Securities Available for Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 163,806 | $ 175,059 |
Gross Unrealized Gains | 0 | 2 |
Gross Unrealized (Losses) | (29,830) | (25,905) |
Fair Value | 133,976 | 149,156 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 9,259 | 9,993 |
Gross Unrealized (Losses) | (1,011) | (858) |
Fair Value | 8,248 | 9,135 |
Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 143,206 | 153,289 |
Gross Unrealized (Losses) | (27,616) | (24,136) |
Fair Value | 115,590 | 129,153 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 6,591 | 7,027 |
Gross Unrealized Gains | 2 | |
Gross Unrealized (Losses) | (423) | (422) |
Fair Value | 6,168 | 6,607 |
Subordinated Debt [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 4,750 | 4,750 |
Gross Unrealized (Losses) | (780) | (489) |
Fair Value | $ 3,970 | $ 4,261 |
Securities - (Contractual Matur
Securities - (Contractual Maturity of Securities Available for Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Securities, Available-for-Sale [Abstract] | ||
Due in one year or less, Amortized Cost | $ 1,667 | |
Due after one year through five years, Amortized Cost | 5,124 | |
Due after five years through ten years, Amortized Cost | 20,776 | |
Due after ten years, Amortized Cost | 136,239 | |
Amortized Cost | 163,806 | $ 175,059 |
Due in one year or less, Fair Value | 1,646 | |
Due after one year through five years, Fair Value | 4,705 | |
Due after five years through ten years, Fair Value | 18,124 | |
Due after ten years, Fair Value | 109,501 | |
Fair Value | $ 133,976 | $ 149,156 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Thousands | 9 Months Ended | ||
Sep. 30, 2023 USD ($) Security | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
Schedule Of Available For Sale Securities [Line Items] | |||
Accrued interest receivable | $ 396 | ||
Available-for-sale securities, gross realized gains | 0 | $ 6 | |
Proceeds from sale of available for sale securities | 15,400 | ||
Available-for-sale securities, gross realized losses | $ 743 | ||
Amortized cost basis | 163,806 | $ 175,059 | |
Debt securities, available-for-sale | 133,976 | $ 149,156 | |
Pledged as Collateral [Member] | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Debt securities, available-for-sale | $ 13,800 | ||
Available-for-Sale Securities [Member] | |||
Schedule Of Available For Sale Securities [Line Items] | |||
Debt securities included in gross unrealized losses on available for sale securities | Security | 104 | ||
Amortized cost basis | $ 133,100 |
Securities (Fair Value and Gros
Securities (Fair Value and Gross Unrealized Losses for Securities Available for Sale) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | $ 703 | $ 46,407 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 48 | 5,336 |
Fair Value, 12 months or more | 132,373 | 101,456 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 29,782 | 20,569 |
Fair Value, Total | 133,076 | 147,863 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 29,830 | 25,905 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 6,140 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 543 | |
Fair Value, 12 months or more | 8,248 | 2,994 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 1,011 | 315 |
Fair Value, Total | 8,248 | 9,134 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 1,011 | 858 |
Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 31,771 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4,052 | |
Fair Value, 12 months or more | 115,590 | 97,382 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 27,616 | 20,084 |
Fair Value, Total | 115,590 | 129,153 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 27,616 | 24,136 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 485 | 6,065 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 16 | 422 |
Fair Value, 12 months or more | 5,283 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 407 | |
Fair Value, Total | 5,768 | 6,065 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 423 | 422 |
Subordinated Debt [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 218 | 2,431 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 32 | 319 |
Fair Value, 12 months or more | 3,252 | 1,080 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 748 | 170 |
Fair Value, Total | 3,470 | 3,511 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 780 | $ 489 |
Securities (Restricted Investme
Securities (Restricted Investments) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | $ 8,583 | $ 9,233 |
Federal Reserve Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | 344 | 944 |
Federal Home Loan Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | 8,099 | 8,149 |
Community Bankers' Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | $ 140 | $ 140 |
Loans and Allowance for Loan _3
Loans and Allowance for Loan Losses (Schedule of Composition of Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | $ 1,432,930 | $ 1,316,340 |
Net deferred loan costs and premiums | 8,055 | 7,443 |
Allowance for credit losses | (14,573) | (11,218) |
Net Loans | 1,426,412 | 1,312,565 |
Construction & Secured by Farmland | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 80,012 | 89,651 |
HELOCs | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 44,719 | 43,588 |
Residential First Lien - Investor | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 120,547 | 111,074 |
Residential First Lien - Owner Occupied | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 162,919 | 125,088 |
SBA PPP loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 57 | 74 |
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 355,122 | 315,326 |
Residential Junior Liens | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 12,284 | 11,417 |
Marine loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 260,518 | 230,874 |
Commercial - Owner Occupied | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 244,088 | 232,115 |
Consumer loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 42,538 | 44,841 |
Other commercial and industrial loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 96,830 | 99,571 |
All other loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 13,089 | 12,503 |
Overdrafts | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | $ 207 | $ 218 |
Loans and Allowance for Loan _4
Loans and Allowance for Loan Losses (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 1,432,930 | $ 1,316,340 |
Other Assets | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net servicing assets | 83 | |
Marine Loans | Other Assets | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans Sold, Currently being Serviced | $ 5,200 |
Loans and Allowance for Loan _5
Loans and Allowance for Loan Losses (Changes In Allowance For Loan Losses) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Receivables [Abstract] | |||||
Balance Beginning | $ 14,511 | $ 9,847 | $ 11,218 | $ 8,787 | $ 8,787 |
Cumulative effect adjustment for adoption of ASC 326 | 2,077 | ||||
Provision for credit losses | 218 | 0 | 1,337 | 900 | 1,830 |
Recoveries added to the allowance | 31 | 976 | 255 | 1,224 | 1,260 |
Loan losses charged to the allowance | (187) | (81) | (314) | (169) | (659) |
Ending Balance | $ 14,573 | $ 10,742 | $ 14,573 | $ 10,742 | $ 11,218 |
Loans and Allowance for Loan _6
Loans and Allowance for Loan Losses (Nonaccrual And Past Due Loans By Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | $ 1,431,490 | $ 1,199,230 |
Total Loans | 1,432,930 | 1,316,340 |
90 or More Days Past Due Still Accruing | 66 | 318 |
Nonaccrual Loans | 5,697 | 2,162 |
Nonaccruals with No Allowance for Credit Losses | 5,385 | |
Nonaccrual with an Allowance for Credit Losses | 312 | |
Construction & Secured by Farmland | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 80,012 | 89,550 |
Total Loans | 80,012 | 89,651 |
Nonaccrual Loans | 97 | 397 |
Nonaccruals with No Allowance for Credit Losses | 97 | |
Nonaccrual with an Allowance for Credit Losses | ||
HELOCs | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 44,595 | 43,439 |
Total Loans | 44,719 | 43,588 |
Nonaccrual Loans | 15 | 155 |
Nonaccruals with No Allowance for Credit Losses | 15 | |
Nonaccrual with an Allowance for Credit Losses | ||
Residential First Lien - Investor | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 120,547 | 111,074 |
Total Loans | 120,547 | 111,074 |
Nonaccrual Loans | 1,093 | |
Nonaccruals with No Allowance for Credit Losses | 1,093 | |
Nonaccrual with an Allowance for Credit Losses | ||
Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 162,721 | 124,827 |
Total Loans | 162,919 | 125,088 |
Nonaccrual Loans | 115 | 175 |
Nonaccruals with No Allowance for Credit Losses | 115 | |
Nonaccrual with an Allowance for Credit Losses | ||
Residential Junior Liens | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 12,275 | 11,417 |
Total Loans | 12,284 | 11,417 |
Nonaccrual Loans | 3 | 6 |
Nonaccruals with No Allowance for Credit Losses | 3 | |
Nonaccrual with an Allowance for Credit Losses | ||
Commercial - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 244,088 | 232,115 |
Total Loans | 244,088 | 232,115 |
Nonaccrual Loans | 27 | |
Nonaccruals with No Allowance for Credit Losses | 27 | |
Nonaccrual with an Allowance for Credit Losses | ||
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 355,122 | 315,326 |
Total Loans | 355,122 | 315,326 |
Nonaccrual Loans | 3,656 | 1,356 |
Nonaccruals with No Allowance for Credit Losses | 3,656 | |
Nonaccrual with an Allowance for Credit Losses | ||
SBA PPP loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 57 | 74 |
Total Loans | 57 | 74 |
Nonaccrual Loans | ||
Nonaccruals with No Allowance for Credit Losses | ||
Nonaccrual with an Allowance for Credit Losses | ||
Other commercial and industrial loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 96,506 | 99,483 |
Total Loans | 96,830 | 99,571 |
Nonaccrual Loans | 324 | 73 |
Nonaccruals with No Allowance for Credit Losses | 12 | |
Nonaccrual with an Allowance for Credit Losses | 312 | |
Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 260,146 | 230,874 |
Total Loans | 260,518 | 230,874 |
Nonaccrual Loans | 367 | |
Nonaccruals with No Allowance for Credit Losses | 367 | |
Nonaccrual with an Allowance for Credit Losses | ||
Overdrafts | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 207 | 218 |
Total Loans | 207 | 218 |
Nonaccrual Loans | ||
Nonaccruals with No Allowance for Credit Losses | ||
Nonaccrual with an Allowance for Credit Losses | ||
Other Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 13,089 | 12,503 |
Total Loans | 13,089 | 12,503 |
Nonaccrual Loans | ||
Nonaccruals with No Allowance for Credit Losses | ||
Nonaccrual with an Allowance for Credit Losses | ||
Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 42,125 | 44,467 |
Total Loans | 42,538 | 44,841 |
90 or More Days Past Due Still Accruing | 66 | 318 |
Nonaccrual Loans | ||
Nonaccruals with No Allowance for Credit Losses | ||
Nonaccrual with an Allowance for Credit Losses | ||
30-59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 508 | 442 |
30-59 Days Past Due | HELOCs | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 124 | 149 |
30-59 Days Past Due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 114 | 222 |
30-59 Days Past Due | Residential Junior Liens | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 9 | |
30-59 Days Past Due | Other commercial and industrial loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 15 | |
30-59 Days Past Due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 261 | 56 |
60 - 89 Days Past due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 229 | |
60 - 89 Days Past due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 48 | |
60 - 89 Days Past due | Other commercial and industrial loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 90 | |
60 - 89 Days Past due | Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 5 | |
60 - 89 Days Past due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 86 | |
90 or More Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 703 | 531 |
90 or More Days Past Due | Construction & Secured by Farmland | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 101 | |
90 or More Days Past Due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 36 | 39 |
90 or More Days Past Due | Other commercial and industrial loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 234 | 73 |
90 or More Days Past Due | Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 367 | |
90 or More Days Past Due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 66 | 318 |
Financial Asset, Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 1,440 | 973 |
Financial Asset, Past Due | Construction & Secured by Farmland | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 101 | |
Financial Asset, Past Due | HELOCs | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 124 | 149 |
Financial Asset, Past Due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 198 | 261 |
Financial Asset, Past Due | Residential Junior Liens | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 9 | |
Financial Asset, Past Due | Other commercial and industrial loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 324 | 88 |
Financial Asset, Past Due | Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 372 | |
Financial Asset, Past Due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | $ 413 | 374 |
Financial Asset, Not Past Due [Member] | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | $ 1,315,367 |
Loans and Allowance for Loan _7
Loans and Allowance for Loan Losses (Allowance For Loan Losses By Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | $ 14,511 | $ 9,847 | $ 11,218 | $ 8,787 | $ 8,787 |
Cumulative effect adjustment for adoption of ASC 326 | 2,077 | ||||
Credit losses charged to the allowance | (187) | (81) | (314) | (169) | (659) |
Recoveries | 31 | 976 | 255 | 1,224 | 1,260 |
Provision for credit losses | 218 | 0 | 1,337 | 900 | 1,830 |
Ending Balance | 14,573 | $ 10,742 | 14,573 | 10,742 | 11,218 |
Ending balance: Individually evaluated for impairment | 312 | 312 | 100 | ||
Ending balance: collectively evaluated for impairment | 14,261 | 14,261 | 11,118 | ||
Ending balance | 1,432,930 | 1,432,930 | 1,316,340 | ||
Ending balance individually evaluated for impairment | 5,682 | 5,682 | 6,621 | ||
Ending balance collectively evaluated for impairment | 1,427,248 | 1,427,248 | 1,309,719 | ||
Construction And Farmland | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 2,714 | 2,794 | 2,794 | ||
Cumulative effect adjustment for adoption of ASC 326 | (1,840) | ||||
Credit losses charged to the allowance | |||||
Recoveries | 5 | 9 | |||
Provision for credit losses | (134) | (89) | |||
Ending Balance | 745 | 745 | 2,714 | ||
Ending balance: Individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 745 | 745 | 2,714 | ||
Ending balance | 80,012 | 80,012 | 89,651 | ||
Ending balance individually evaluated for impairment | 96 | 96 | 1,044 | ||
Ending balance collectively evaluated for impairment | 79,916 | 79,916 | 88,607 | ||
Residential Real Estate | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 1,735 | 1,671 | 1,671 | ||
Cumulative effect adjustment for adoption of ASC 326 | 1,933 | ||||
Credit losses charged to the allowance | (9) | ||||
Recoveries | 14 | 888 | |||
Provision for credit losses | 765 | (815) | |||
Ending Balance | 4,447 | 4,447 | 1,735 | ||
Ending balance: Individually evaluated for impairment | 27 | ||||
Ending balance: collectively evaluated for impairment | 4,447 | 4,447 | 1,708 | ||
Ending balance | 340,469 | 340,469 | 291,167 | ||
Ending balance individually evaluated for impairment | 1,172 | 1,172 | 3,719 | ||
Ending balance collectively evaluated for impairment | 339,297 | 339,297 | 287,448 | ||
Commercial Real Estate & MultiFamily | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 2,221 | 1,729 | 1,729 | ||
Cumulative effect adjustment for adoption of ASC 326 | 3,584 | ||||
Credit losses charged to the allowance | |||||
Recoveries | 197 | ||||
Provision for credit losses | 496 | 295 | |||
Ending Balance | 6,301 | 6,301 | 2,221 | ||
Ending balance: Individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 6,301 | 6,301 | 2,221 | ||
Ending balance | 599,210 | 599,210 | 547,441 | ||
Ending balance individually evaluated for impairment | 3,672 | 3,672 | 1,695 | ||
Ending balance collectively evaluated for impairment | 595,538 | 595,538 | 545,746 | ||
Commercial | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 2,222 | 1,294 | 1,294 | ||
Cumulative effect adjustment for adoption of ASC 326 | (1,102) | ||||
Credit losses charged to the allowance | (300) | ||||
Recoveries | 13 | 109 | |||
Provision for credit losses | (92) | 1,119 | |||
Ending Balance | 1,225 | 1,225 | 2,222 | ||
Ending balance: Individually evaluated for impairment | 73 | ||||
Ending balance: collectively evaluated for impairment | 913 | 913 | 2,149 | ||
Ending balance | 96,887 | 96,887 | 99,645 | ||
Ending balance individually evaluated for impairment | 312 | 312 | 141 | ||
Ending balance collectively evaluated for impairment | 96,575 | 96,575 | 99,504 | ||
Marine | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 1,555 | 789 | 789 | ||
Cumulative effect adjustment for adoption of ASC 326 | (285) | ||||
Credit losses charged to the allowance | (126) | ||||
Recoveries | |||||
Provision for credit losses | 289 | 766 | |||
Ending Balance | 1,433 | 1,433 | 1,555 | ||
Ending balance: Individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 1,433 | 1,433 | 1,555 | ||
Ending balance | 260,518 | 260,518 | 230,874 | ||
Ending balance individually evaluated for impairment | 430 | 430 | |||
Ending balance collectively evaluated for impairment | 260,088 | 260,088 | 230,874 | ||
Consumer | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 299 | 219 | 219 | ||
Cumulative effect adjustment for adoption of ASC 326 | (123) | ||||
Credit losses charged to the allowance | (38) | (79) | |||
Recoveries | 45 | 44 | |||
Provision for credit losses | 48 | 115 | |||
Ending Balance | 231 | 231 | 299 | ||
Ending balance: Individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 231 | 231 | 299 | ||
Ending balance | 42,538 | 42,538 | 44,841 | ||
Ending balance individually evaluated for impairment | 22 | ||||
Ending balance collectively evaluated for impairment | 42,538 | 42,538 | 44,819 | ||
All Other Loans | |||||
Financing Receivable Impaired [Line Items] | |||||
Balance Beginning | 472 | $ 291 | 291 | ||
Cumulative effect adjustment for adoption of ASC 326 | (90) | ||||
Credit losses charged to the allowance | (150) | (271) | |||
Recoveries | 178 | 13 | |||
Provision for credit losses | 28 | 439 | |||
Ending Balance | 382 | 382 | 472 | ||
Ending balance: Individually evaluated for impairment | |||||
Ending balance: collectively evaluated for impairment | 382 | 382 | 472 | ||
Ending balance | 13,296 | 13,296 | 12,721 | ||
Ending balance individually evaluated for impairment | |||||
Ending balance collectively evaluated for impairment | 13,296 | 13,296 | $ 12,721 | ||
Unallocated | |||||
Financing Receivable Impaired [Line Items] | |||||
Provision for credit losses | (191) | ||||
Ending Balance | (191) | (191) | |||
Ending balance: collectively evaluated for impairment | $ (191) | $ (191) |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses on Loans - Amortized cost basis of collateral-dependent loans by loan portfolio segment (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | $ 5,682 |
Construction & Secured by Farmland | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 96 |
HELOCs | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | |
Residential First Lien - Investor | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 1,093 |
Residential First Lien - Owner Occupied | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 79 |
Residential Junior Liens | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | |
Commercial - Owner Occupied | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 16 |
Commercial - Non-Owner Occupied & Multifamily | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 3,656 |
SBA PPP loans | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | |
Other commercial and industrial loans | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | 312 |
Marine loans | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | 0 |
Real Estate Collateral [Member] | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | 4,940 |
Real Estate Collateral [Member] | Construction & Secured by Farmland | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 96 |
Real Estate Collateral [Member] | HELOCs | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | |
Real Estate Collateral [Member] | Residential First Lien - Investor | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 1,093 |
Real Estate Collateral [Member] | Residential First Lien - Owner Occupied | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 79 |
Real Estate Collateral [Member] | Residential Junior Liens | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | |
Real Estate Collateral [Member] | Commercial - Owner Occupied | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 16 |
Real Estate Collateral [Member] | Commercial - Non-Owner Occupied & Multifamily | |
Financing Receivable, Past Due [Line Items] | |
Mortgage real estate loans | 3,656 |
Other Collateral [Member] | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | 742 |
Other Collateral [Member] | Other commercial and industrial loans | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | 312 |
Other Collateral [Member] | Marine loans | |
Financing Receivable, Past Due [Line Items] | |
Commercial and industrial loans | $ 430 |
Loans and Allowance for Loan _8
Loans and Allowance for Loan Losses (Credit Quality Information By Class) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | $ 1,431,490 | $ 1,199,230 |
Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,144,320 | |
Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 43,170 | |
Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 11,740 | |
Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Performing | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 116,908 | |
Nonperforming | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 202 | |
Commercial - Non Real Estate Commercial And Industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 57 | 247,659 |
Commercial - Non Real Estate Commercial And Industrial | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 57 | |
Commercial - Non Real Estate Commercial And Industrial | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 57 | 247,061 |
Commercial - Non Real Estate Commercial And Industrial | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 57 | |
Commercial - Non Real Estate Commercial And Industrial | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | 526 |
Commercial - Non Real Estate Commercial And Industrial | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non Real Estate Commercial And Industrial | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 72 | |
Commercial - Owner Occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 244,088 | 232,115 |
Commercial - Owner Occupied | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,226 | |
Commercial - Owner Occupied | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 70,241 | |
Commercial - Owner Occupied | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 45,944 | |
Commercial - Owner Occupied | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 28,763 | |
Commercial - Owner Occupied | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 17,332 | |
Commercial - Owner Occupied | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 52,912 | |
Commercial - Owner Occupied | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,670 | |
Commercial - Owner Occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 233,579 | 212,074 |
Commercial - Owner Occupied | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,226 | |
Commercial - Owner Occupied | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 68,359 | |
Commercial - Owner Occupied | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 42,515 | |
Commercial - Owner Occupied | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,101 | |
Commercial - Owner Occupied | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 16,245 | |
Commercial - Owner Occupied | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 51,463 | |
Commercial - Owner Occupied | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,670 | |
Commercial - Owner Occupied | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,619 | 20,020 |
Commercial - Owner Occupied | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,882 | |
Commercial - Owner Occupied | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 67 | |
Commercial - Owner Occupied | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,161 | |
Commercial - Owner Occupied | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,087 | |
Commercial - Owner Occupied | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,422 | |
Commercial - Owner Occupied | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,890 | |
Commercial - Owner Occupied | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Owner Occupied | Classified [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,362 | |
Commercial - Owner Occupied | Classified [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 501 | |
Commercial - Owner Occupied | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 27 | |
Commercial - Owner Occupied | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Owner Occupied | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 21 | |
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 355,122 | 275,520 |
Commercial - Non-Owner Occupied & Multifamily | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 52,459 | |
Commercial - Non-Owner Occupied & Multifamily | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 93,832 | |
Commercial - Non-Owner Occupied & Multifamily | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 68,514 | |
Commercial - Non-Owner Occupied & Multifamily | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 76,671 | |
Commercial - Non-Owner Occupied & Multifamily | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 17,044 | |
Commercial - Non-Owner Occupied & Multifamily | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 45,406 | |
Commercial - Non-Owner Occupied & Multifamily | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,196 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 349,184 | 257,625 |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 52,459 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 93,832 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 66,232 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 74,303 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 17,044 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44,118 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,196 | |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,282 | 16,189 |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,282 | |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non-Owner Occupied & Multifamily | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,656 | |
Commercial - Non-Owner Occupied & Multifamily | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Commercial - Non-Owner Occupied & Multifamily | Classified [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,368 | |
Commercial - Non-Owner Occupied & Multifamily | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,288 | |
Commercial - Non-Owner Occupied & Multifamily | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,706 | |
HELOCs [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44,719 | |
HELOCs [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
HELOCs [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44,719 | |
HELOCs [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44,654 | |
HELOCs [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
HELOCs [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44,654 | |
HELOCs [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 49 | |
HELOCs [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
HELOCs [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 49 | |
HELOCs [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 16 | |
HELOCs [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
HELOCs [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 16 | |
Residential First Lien - Investor [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 120,547 | |
Residential First Lien - Investor [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 16,530 | |
Residential First Lien - Investor [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 28,387 | |
Residential First Lien - Investor [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 33,451 | |
Residential First Lien - Investor [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,001 | |
Residential First Lien - Investor [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,754 | |
Residential First Lien - Investor [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 25,424 | |
Residential First Lien - Investor [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Investor [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 116,019 | |
Residential First Lien - Investor [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 16,530 | |
Residential First Lien - Investor [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,717 | |
Residential First Lien - Investor [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 32,126 | |
Residential First Lien - Investor [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 11,375 | |
Residential First Lien - Investor [Member] | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,754 | |
Residential First Lien - Investor [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,517 | |
Residential First Lien - Investor [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Investor [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,436 | |
Residential First Lien - Investor [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Investor [Member] | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,670 | |
Residential First Lien - Investor [Member] | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 233 | |
Residential First Lien - Investor [Member] | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 626 | |
Residential First Lien - Investor [Member] | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 907 | |
Residential First Lien - Investor [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Investor [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,092 | |
Residential First Lien - Investor [Member] | Classified [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,092 | |
Residential First Lien - Investor [Member] | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Investor [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 162,919 | |
Residential First Lien - Owner Occupied [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 43,193 | |
Residential First Lien - Owner Occupied [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 31,810 | |
Residential First Lien - Owner Occupied [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,017 | |
Residential First Lien - Owner Occupied [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36,231 | |
Residential First Lien - Owner Occupied [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,040 | |
Residential First Lien - Owner Occupied [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 23,628 | |
Residential First Lien - Owner Occupied [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 161,590 | |
Residential First Lien - Owner Occupied [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 43,193 | |
Residential First Lien - Owner Occupied [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 31,810 | |
Residential First Lien - Owner Occupied [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,017 | |
Residential First Lien - Owner Occupied [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36,231 | |
Residential First Lien - Owner Occupied [Member] | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,040 | |
Residential First Lien - Owner Occupied [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 22,299 | |
Residential First Lien - Owner Occupied [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 472 | |
Residential First Lien - Owner Occupied [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied [Member] | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 472 | |
Residential First Lien - Owner Occupied [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 857 | |
Residential First Lien - Owner Occupied [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied [Member] | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 857 | |
Residential First Lien - Owner Occupied [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,284 | |
Residential Junior Liens [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,766 | |
Residential Junior Liens [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,969 | |
Residential Junior Liens [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,499 | |
Residential Junior Liens [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,515 | |
Residential Junior Liens [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 653 | |
Residential Junior Liens [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,882 | |
Residential Junior Liens [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,246 | |
Residential Junior Liens [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,766 | |
Residential Junior Liens [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,969 | |
Residential Junior Liens [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,499 | |
Residential Junior Liens [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,515 | |
Residential Junior Liens [Member] | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 653 | |
Residential Junior Liens [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,844 | |
Residential Junior Liens [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 38 | |
Residential Junior Liens [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Classified [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Junior Liens [Member] | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 38 | |
Residential Junior Liens [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Other commercial and industrial loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 96,830 | |
Other commercial and industrial loans [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15,397 | |
Other commercial and industrial loans [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 29,072 | |
Other commercial and industrial loans [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,264 | |
Other commercial and industrial loans [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,185 | |
Other commercial and industrial loans [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,871 | |
Other commercial and industrial loans [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,140 | |
Other commercial and industrial loans [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 33,901 | |
Other commercial and industrial loans [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 92,330 | |
Other commercial and industrial loans [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,637 | |
Other commercial and industrial loans [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 28,991 | |
Other commercial and industrial loans [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,264 | |
Other commercial and industrial loans [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,182 | |
Other commercial and industrial loans [Member] | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,870 | |
Other commercial and industrial loans [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,130 | |
Other commercial and industrial loans [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 31,256 | |
Other commercial and industrial loans [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,176 | |
Other commercial and industrial loans [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,529 | |
Other commercial and industrial loans [Member] | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1 | |
Other commercial and industrial loans [Member] | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10 | |
Other commercial and industrial loans [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,636 | |
Other commercial and industrial loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 324 | |
Other commercial and industrial loans [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 231 | |
Other commercial and industrial loans [Member] | Classified [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 81 | |
Other commercial and industrial loans [Member] | Classified [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | ||
Other commercial and industrial loans [Member] | Classified [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3 | |
Other commercial and industrial loans [Member] | Classified [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | ||
Other commercial and industrial loans [Member] | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | ||
Other commercial and industrial loans [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9 | |
Construction And Farmland Residential | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 80,012 | 11,256 |
Construction And Farmland Residential | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,098 | |
Construction And Farmland Residential | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,801 | |
Construction And Farmland Residential | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 7,906 | |
Construction And Farmland Residential | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,565 | |
Construction And Farmland Residential | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,471 | |
Construction And Farmland Residential | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,639 | |
Construction And Farmland Residential | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 7,532 | |
Construction And Farmland Residential | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 75,696 | 11,235 |
Construction And Farmland Residential | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,098 | |
Construction And Farmland Residential | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 23,622 | |
Construction And Farmland Residential | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,921 | |
Construction And Farmland Residential | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,418 | |
Construction And Farmland Residential | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,423 | |
Construction And Farmland Residential | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,682 | |
Construction And Farmland Residential | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 7,532 | |
Construction And Farmland Residential | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,033 | |
Construction And Farmland Residential | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Construction And Farmland Residential | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,179 | |
Construction And Farmland Residential | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 985 | |
Construction And Farmland Residential | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Construction And Farmland Residential | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,048 | |
Construction And Farmland Residential | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 821 | |
Construction And Farmland Residential | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Construction And Farmland Residential | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 283 | |
Construction And Farmland Residential | Classified [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 147 | |
Construction And Farmland Residential | Classified [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | ||
Construction And Farmland Residential | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 136 | |
Construction And Farmland Residential | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | ||
Construction And Farmland Residential | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 21 | |
Marine loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 260,518 | |
Current period gross charge-offs | 126 | |
Marine loans [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 90,591 | |
Marine loans [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 132,659 | |
Current period gross charge-offs | 126 | |
Marine loans [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36,594 | |
Marine loans [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 674 | |
Marine loans [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Marine loans [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 260,151 | |
Marine loans [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 90,224 | |
Marine loans [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 132,659 | |
Marine loans [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36,594 | |
Marine loans [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 674 | |
Marine loans [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Marine loans [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Marine loans [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Marine loans [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Marine loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 367 | |
Marine loans [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 367 | |
Marine loans [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Consumer loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 42,538 | |
Current period gross charge-offs | 38 | |
Consumer loans [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,542 | |
Current period gross charge-offs | 0 | |
Consumer loans [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 14,375 | |
Current period gross charge-offs | 3 | |
Consumer loans [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,416 | |
Consumer loans [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,032 | |
Consumer loans [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,810 | |
Consumer loans [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 37 | |
Consumer loans [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,326 | |
Current period gross charge-offs | 0 | |
Consumer loans [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 42,538 | |
Consumer loans [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,542 | |
Consumer loans [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 14,375 | |
Consumer loans [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,416 | |
Consumer loans [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,032 | |
Consumer loans [Member] | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,810 | |
Consumer loans [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 37 | |
Consumer loans [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,326 | |
Consumer loans [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Consumer loans [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Consumer loans [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Consumer loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Consumer loans [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Consumer loans [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 207 | |
Current period gross charge-offs | 150 | |
Overdrafts [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Current period gross charge-offs | 0 | |
Overdrafts [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Current period gross charge-offs | 150 | |
Overdrafts [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Overdrafts [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 207 | |
Overdrafts [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 207 | |
Other Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,089 | |
Other Loans [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 72 | |
Other Loans [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10,173 | |
Other Loans [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 30 | |
Other Loans [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9 | |
Other Loans [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,685 | |
Other Loans [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 120 | |
Other Loans [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,089 | |
Other Loans [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 72 | |
Other Loans [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10,173 | |
Other Loans [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 30 | |
Other Loans [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9 | |
Other Loans [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,685 | |
Other Loans [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 120 | |
Other Loans [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Other Loans [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Other Loans [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Other Loans [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Other Loans [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Other Loans [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Construction And Farmland Commercial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 78,395 | |
Construction And Farmland Commercial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 69,427 | |
Construction And Farmland Commercial | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 153 | |
Construction And Farmland Commercial | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,815 | |
Residential Equity Lines | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 43,588 | |
Residential Equity Lines | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 43,124 | |
Residential Equity Lines | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 310 | |
Residential Equity Lines | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 154 | |
Residential Single Family | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 258,170 | |
Residential Single Family | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 251,247 | |
Residential Single Family | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,972 | |
Residential Single Family | Substandard | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 951 | |
Residential Single Family | Doubtful | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential Multifamily | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 39,806 | |
Residential Multifamily | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 39,806 | |
Residential Multifamily | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Total by Risk Category [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,432,930 | |
Current period gross charge-offs | 314 | |
Total by Risk Category [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 275,081 | |
Current period gross charge-offs | 0 | |
Total by Risk Category [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 438,319 | |
Current period gross charge-offs | 129 | |
Total by Risk Category [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 235,692 | |
Total by Risk Category [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 172,646 | |
Total by Risk Category [Member] | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 51,975 | |
Total by Risk Category [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 160,753 | |
Total by Risk Category [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 98,464 | |
Current period gross charge-offs | 185 | |
Total by Risk Category [Member] | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,401,133 | |
Total by Risk Category [Member] | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 272,747 | |
Total by Risk Category [Member] | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 433,507 | |
Total by Risk Category [Member] | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 227,671 | |
Total by Risk Category [Member] | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 166,840 | |
Total by Risk Category [Member] | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 49,839 | |
Total by Risk Category [Member] | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 154,775 | |
Total by Risk Category [Member] | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 95,754 | |
Total by Risk Category [Member] | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 21,067 | |
Total by Risk Category [Member] | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,529 | |
Total by Risk Category [Member] | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,731 | |
Total by Risk Category [Member] | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,567 | |
Total by Risk Category [Member] | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,787 | |
Total by Risk Category [Member] | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,136 | |
Total by Risk Category [Member] | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,632 | |
Total by Risk Category [Member] | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,685 | |
Total by Risk Category [Member] | Classified [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10,730 | |
Total by Risk Category [Member] | Classified [Member] | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 805 | |
Total by Risk Category [Member] | Classified [Member] | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 81 | |
Total by Risk Category [Member] | Classified [Member] | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,454 | |
Total by Risk Category [Member] | Classified [Member] | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,019 | |
Total by Risk Category [Member] | Classified [Member] | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,346 | |
Total by Risk Category [Member] | Classified [Member] | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | $ 25 | |
All Other Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,721 | |
All Other Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | $ 12,721 |
Restructurings for Borrowers _3
Restructurings for Borrowers Experiencing Financial Difficulty (Narrative) (Details) - Contract | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Financing Receivable Modifications [Line Items] | |||
Mortgage loans on real estate weighted average term | 1 year | ||
Number of payment defaults | 0 | 0 | |
Residential Single Family | |||
Financing Receivable Modifications [Line Items] | |||
Loan is considered payment default | 30 days |
Restructurings for Borrowers _4
Restructurings for Borrowers Experiencing Financial Difficulty (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Term Extension | |
Troubled Debt Restructuring Subsequent Periods [Line Items] | |
Total | $ 355 |
Total Modification | |
Troubled Debt Restructuring Subsequent Periods [Line Items] | |
Total | $ 355 |
Residential First Lien - Owner Occupied | |
Troubled Debt Restructuring Subsequent Periods [Line Items] | |
Mortgage loans on real estate, percentage | 0.22% |
Residential First Lien - Owner Occupied | Term Extension | |
Troubled Debt Restructuring Subsequent Periods [Line Items] | |
Total | $ 355 |
Residential First Lien - Owner Occupied | Total Modification | |
Troubled Debt Restructuring Subsequent Periods [Line Items] | |
Total | $ 355 |
Restructurings for Borrowers _5
Restructurings for Borrowers Experiencing Financial Difficulty (Schedule of Troubled Debt Restructurings on Financing Receivables) (Details) $ in Thousands | 3 Months Ended | 9 Months Ended |
Sep. 30, 2022 USD ($) Contract | Sep. 30, 2022 USD ($) Contract | |
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Number of Contracts | Contract | 5 | 11 |
Pre-Modification Outstanding Recorded Investment | $ 914 | $ 2,438 |
Post-Modification Outstanding Recorded Investment | $ 915 | $ 2,457 |
Commercial - Owner Occupied | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Number of Contracts | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 185 | |
Post-Modification Outstanding Recorded Investment | $ 185 | |
Construction And Farmland Residential | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Number of Contracts | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 639 | |
Post-Modification Outstanding Recorded Investment | $ 639 | |
Residential Single Family | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Number of Contracts | Contract | 4 | 7 |
Pre-Modification Outstanding Recorded Investment | $ 894 | $ 1,433 |
Post-Modification Outstanding Recorded Investment | $ 894 | $ 1,451 |
Consumer Installment | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Number of Contracts | Contract | 1 | 1 |
Pre-Modification Outstanding Recorded Investment | $ 20 | $ 20 |
Post-Modification Outstanding Recorded Investment | $ 21 | $ 21 |
Commercial - Non-Owner Occupied & Multifamily | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Number of Contracts | Contract | 1 | |
Pre-Modification Outstanding Recorded Investment | $ 161 | |
Post-Modification Outstanding Recorded Investment | $ 161 |
Deposits (Composition Of Deposi
Deposits (Composition Of Deposits) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Deposits [Abstract] | ||
Noninterest bearing demand deposits | $ 430,910 | $ 478,750 |
NOW accounts | 188,330 | 167,197 |
Money market accounts | 325,712 | 220,498 |
Regular savings accounts | 142,069 | 239,736 |
Savings and interest bearing demand deposits | 656,111 | 627,431 |
Balances of less than $250,000 | 265,856 | 87,531 |
Balances of $250,000 and more | 145,503 | 70,363 |
Time deposits | 411,359 | 157,894 |
Total deposits | $ 1,498,380 | $ 1,264,075 |
Leases - Schedule of Lease Info
Leases - Schedule of Lease Information (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Lessee, Lease, Description [Line Items] | |||||
Lease liabilities | $ 4,736 | $ 4,736 | $ 4,978 | ||
Right-of-use assets | $ 4,482 | $ 4,482 | $ 4,766 | ||
Weighted average remaining lease term | 14 years | 14 years | 14 years | ||
Weighted average discount rate | 3.08% | 3.08% | 3.04% | ||
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities | Other Liabilities | ||
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets | Other Assets | ||
Lease Cost | |||||
Operating lease cost | $ 132 | $ 132 | $ 396 | $ 396 | |
Short-term lease cost | 4 | 3 | 11 | 11 | |
Total lease cost | 136 | 135 | 407 | 407 | |
Cash paid for amounts included in the measurement of lease liabilities | $ 118 | $ 116 | $ 354 | $ 348 |
Leases - Schedule of Maturity o
Leases - Schedule of Maturity of Lease Liability (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Lessee, Lease, Description [Line Items] | ||
Twelve months ending September 30, 2024 | $ 478 | |
Twelve months ending September 30, 2025 | 497 | |
Twelve months ending September 30, 2026 | 428 | |
Twelve months ending September 30, 2027 | 390 | |
Twelve months ending September 30, 2028 | 394 | |
Thereafter | 3,853 | |
Total undiscounted cash flows | 6,040 | |
Discount | (1,304) | |
Lease liabilities | $ 4,736 | $ 4,978 |
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities |
Fair Value Measurements (Financ
Fair Value Measurements (Financial Assets And Liabilities Measured At Fair Value On A Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Securities available for sale | ||
Total assets at fair value | $ 135,804 | $ 150,173 |
Derivative: | ||
Interest rate swaps | 1,828 | 1,017 |
Liabilities: | ||
Interest rate swaps | 1,828 | 1,017 |
Total liabilities at fair value | 1,828 | 1,017 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Securities available for sale | ||
Total assets at fair value | 8,248 | 9,135 |
Mortgage-Backed Securities [Member] | ||
Securities available for sale | ||
Total assets at fair value | 115,590 | 129,153 |
Obligations of States and Political Subdivisions [Member] | ||
Securities available for sale | ||
Total assets at fair value | 6,168 | 6,607 |
Subordinated Debt [Member] | ||
Securities available for sale | ||
Total assets at fair value | 3,970 | 4,261 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available for sale | ||
Total assets at fair value | 135,804 | 150,173 |
Derivative: | ||
Interest rate swaps | 1,828 | 1,017 |
Liabilities: | ||
Interest rate swaps | 1,828 | 1,017 |
Total liabilities at fair value | 1,828 | 1,017 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of U.S. Government Corporations and Agencies [Member] | ||
Securities available for sale | ||
Total assets at fair value | 8,248 | 9,135 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities [Member] | ||
Securities available for sale | ||
Total assets at fair value | 115,590 | 129,153 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | ||
Securities available for sale | ||
Total assets at fair value | 6,168 | 6,607 |
Significant Other Observable Inputs (Level 2) [Member] | Subordinated Debt [Member] | ||
Securities available for sale | ||
Total assets at fair value | $ 3,970 | $ 4,261 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Balance Other Real Estate Own | $ 0 | $ 0 | $ 108 |
Loans Held For Sale [Member] | Changes Measurement | Fair Value Measurements Nonrecurring [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | |||
Nonrecurring fair value adjustments | $ 0 | $ 0 | $ 0 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements For Certain Financial Assets) (Details) - Other Real Estate Owned [Member] | 12 Months Ended | |
Dec. 31, 2022 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Quantitative information about Level 3 Fair Value Measurements | 6% | |
Measurement Input Discount For Selling Costs Member | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Quantitative information about Level 3 Fair Value Measurements | 6% | [1] |
[1] (1) Unobservable inputs were weighted by the relative fair values of the instruments. |
Fair Value Measurements (Fina_2
Fair Value Measurements (Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financial Assets: | ||
Other real estate owned, net of allowance | $ 0 | $ 108 |
Nonfinancial Assets [Member] | ||
Financial Assets: | ||
Other real estate owned, net of allowance | 108 | |
Significant Other Observable Inputs (Level 2) [Member] | Fair Value Measurements Nonrecurring [Member] | Nonfinancial Assets [Member] | ||
Financial Assets: | ||
Other real estate owned, net of allowance | $ 108 |
Fair Value Measurements (Compan
Fair Value Measurements (Company's Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financial Assets: | ||
Cash and short-term investments | $ 142,038 | $ 66,894 |
Fair Value | 133,976 | 149,156 |
Restricted Investments | 8,583 | 9,233 |
Loans held for sale | 3,564 | 153 |
Loans, net | 1,426,412 | 1,312,565 |
Bank owned life insurance | 24,404 | 23,862 |
Accrued interest receivable | 4,794 | 3,902 |
Interest rate swaps | 1,828 | 1,017 |
Financial liabilities: | ||
Deposits | 1,498,380 | 1,264,075 |
Federal Home Loan Bank advances, short-term | 175,000 | |
Federal Home Loan Bank advances, long-term | 145,000 | 0 |
Federal funds purchased | 0 | 32,980 |
Subordinated debt, net of unamortized issuance costs | 29,428 | 29,377 |
Accrued interest payable | 1,970 | 926 |
Interest rate swaps | 1,828 | 1,017 |
Fair Value [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 142,038 | 66,894 |
Fair Value | 133,976 | 149,156 |
Restricted Investments | 8,583 | 9,233 |
Loans held for sale | 3,564 | 153 |
Loans, net | 1,356,742 | 1,260,149 |
Bank owned life insurance | 24,404 | 23,862 |
Accrued interest receivable | 4,794 | 3,902 |
Interest rate swaps | 1,828 | 1,017 |
Financial liabilities: | ||
Deposits | 1,495,212 | 1,262,859 |
Federal Home Loan Bank advances, short-term | 174,705 | |
Federal Home Loan Bank advances, long-term | 144,125 | |
Federal funds purchased | 32,980 | |
Subordinated debt, net of unamortized issuance costs | 25,602 | 26,101 |
Accrued interest payable | 1,970 | 926 |
Interest rate swaps | 1,828 | 1,017 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 142,038 | 66,894 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Fair Value | 133,976 | 149,156 |
Restricted Investments | 8,583 | 9,233 |
Loans held for sale | 3,564 | 153 |
Bank owned life insurance | 24,404 | 23,862 |
Accrued interest receivable | 4,794 | 3,902 |
Interest rate swaps | 1,828 | 1,017 |
Financial liabilities: | ||
Deposits | 1,495,212 | 1,262,859 |
Federal Home Loan Bank advances, short-term | 174,705 | |
Federal Home Loan Bank advances, long-term | 144,125 | |
Federal funds purchased | 32,980 | |
Subordinated debt, net of unamortized issuance costs | 25,602 | 26,101 |
Accrued interest payable | 1,970 | 926 |
Interest rate swaps | 1,828 | 1,017 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Loans, net | $ 1,356,742 | $ 1,260,149 |
Change in Accumulated Other C_3
Change in Accumulated Other Comprehensive Income - (Loss) Changes To Accumulated Other Comprehensive Income By Components (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||
Beginning balance | $ (19,416) | $ (20,446) | $ (16,756) | $ (155) | $ (20,446) | $ (155) | ||
Other comprehensive (loss) before reclassifications | (5,237) | (6,401) | (3,935) | (27,416) | ||||
Reclassifications | 737 | 737 | ||||||
Tax effect of current period changes | 1,100 | 1,189 | 828 | 5,603 | ||||
Total other comprehensive (loss) | (4,137) | $ (1,945) | 2,975 | (4,475) | $ (5,973) | (10,628) | (3,107) | (21,076) |
Ending balance | (23,553) | (19,416) | (21,231) | (16,756) | (23,553) | (21,231) | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||
Beginning balance | (19,430) | (20,465) | (16,775) | (174) | (20,465) | (174) | ||
Other comprehensive (loss) before reclassifications | (5,237) | (6,401) | (3,927) | (27,416) | ||||
Reclassifications | 0 | 737 | 0 | 737 | ||||
Tax effect of current period changes | (1,100) | 1,189 | 825 | 5,603 | ||||
Total other comprehensive (loss) | (4,137) | (4,475) | (3,102) | (21,076) | ||||
Ending balance | (23,567) | (19,430) | (21,250) | (16,775) | (23,567) | (21,250) | ||
Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||||||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||||||
Beginning balance | 14 | $ 19 | 19 | $ 19 | 19 | 19 | ||
Other comprehensive (loss) before reclassifications | (8) | |||||||
Tax effect of current period changes | 3 | |||||||
Total other comprehensive (loss) | (5) | |||||||
Ending balance | $ 14 | $ 14 | $ 19 | $ 19 | $ 14 | $ 19 |
Change in Accumulated Other C_4
Change in Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Reclassification adjustments | $ 737 | $ 737 | ||
Tax expense related to reclassification | 155 | 155 | ||
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||||
Accumulated Other Comprehensive Income Loss [Line Items] | ||||
Reclassification adjustments | $ 0 | $ 737 | $ 0 | $ 737 |
Other Real Estate Owned - Other
Other Real Estate Owned - Other Real Estate Owned Rollforward (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Real Estate [Abstract] | |||
Balance, beginning | $ 108 | $ 0 | $ 0 |
Transfer from loans | 0 | 0 | 108 |
Gain on foreclosures | 0 | 0 | 0 |
Sales | (108) | 0 | 0 |
Valuation adjustments | 0 | 0 | 0 |
Balance, ending | $ 0 | $ 0 | $ 108 |
Other Real Estate Owned - Sched
Other Real Estate Owned - Schedule of Real Estate Properties (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Past Due [Line Items] | ||||
Other real estate, gross | $ 108 | |||
Other Real Estate, Total | $ 0 | 108 | $ 0 | $ 0 |
Residential | ||||
Financing Receivable, Past Due [Line Items] | ||||
Other real estate, gross | 108 | |||
Commercial Real Estate Portfolio Segment Member | ||||
Financing Receivable, Past Due [Line Items] | ||||
Other real estate, gross | $ 0 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Federal Home Loan Banks [Abstract] | |||||
Amortization Method Qualified Affordable Housing Project Investments | $ 2,100 | $ 2,100 | $ 2,300 | ||
Qualified Affordable Housing Project Investments, Commitment | 0 | 0 | $ 0 | ||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | $ 54 | $ 82 | 211 | $ 196 | |
Affordable Housing Tax Credits and Other Tax Benefits Expected to Be Received | 355 | ||||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | $ 268 | $ 269 |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements and Other Authoritative Guidance (Additional Information) (Details) $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
Adjustment to the allowance for credit losses on loans | $ 2.5 |
Adjusted net of tax recorded to shareholders equity | $ 2 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 6 Months Ended | 9 Months Ended | ||
Jun. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | Mar. 31, 2022 | |
Debt Instrument [Line Items] | ||||
Fixed floating rate | 4.50% | |||
fixed rate end date | Apr. 01, 2027 | |||
Debt issuance costs | $ 673 | |||
Debt balance | 30,000 | |||
Federal Home Loan Bank, Advance | $ 175,000 | |||
Unamortized debt issuance cost | 572 | |||
Federal Home Loan Bank of Atlanta | ||||
Debt Instrument [Line Items] | ||||
Federal Home Loan Bank, Advance | 145,000 | |||
Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
FHLB irrevocable letter of credit | 80,600 | |||
Federal Home Loan Bank, Advance | $ 175,000 | |||
Short-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Federal Home Loan Bank, Advance | $ 0 | |||
Long-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Federal home loan bank, weighted average interest rate | 4.65% | |||
Federal Home Loan Bank, Advance | $ 145,000 | |||
Minimum [Member] | Long-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Federal Home Loan Bank, Advances, Interest Rate | 4.43% | |||
Maximum [Member] | Long-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Federal Home Loan Bank, Advances, Interest Rate | 4.83% | |||
SOFR | ||||
Debt Instrument [Line Items] | ||||
Redemption interest rate | 2.35% | |||
Debt, redemption date | Apr. 01, 2027 | |||
Subordinated Notes due April 1, 2032 | ||||
Debt Instrument [Line Items] | ||||
Aggregate principal amount | $ 30,000 | |||
Fixed floating rate | 4.50% | |||
Due in 2024 | Long-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Debt, maturity date | Sep. 30, 2024 | |||
Debt balance | $ 50,000 | |||
Due in 2025 | Long-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Debt, maturity date | Sep. 30, 2025 | |||
Debt balance | $ 55,000 | |||
Due in 2026 | Long-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Debt, maturity date | Sep. 30, 2026 | |||
Debt balance | $ 40,000 |
Derivative (Summarize Key Eleme
Derivative (Summarize Key Elements of Derivative Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Derivative [Line Items] | ||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets |
Derivative Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities |
Customer-related interest rate swap contracts | Matched interest rate swaps with borrower | ||
Derivative [Line Items] | ||
Notional Amount | $ 41,284 | $ 23,141 |
Assets | 1,781 | 1,017 |
Liabilities | 47 | 0 |
Customer-related interest rate swap contracts | Matched interest rate swaps with counterparty | ||
Derivative [Line Items] | ||
Notional Amount | 41,284 | 23,141 |
Assets | 47 | 0 |
Liabilities | $ 1,781 | $ 1,017 |
Business Segments - Schedule of
Business Segments - Schedule of the wealth management division's revenue and expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Segment Reporting Information [Line Items] | |||||||||
Interest Expense | $ 9,275 | $ 1,467 | $ 23,111 | $ 2,565 | |||||
Net Interest Income (Expense) | 12,916 | 12,899 | 38,002 | 35,957 | |||||
Gain on sales of loans | 913 | 1,544 | |||||||
Other noninterest income | 388 | 600 | 772 | 1,686 | |||||
Provision for credit losses | 216 | 0 | 1,283 | 900 | |||||
Noninterest expense | 14,133 | 11,058 | 39,474 | 31,509 | |||||
Income before taxes | 2,776 | 5,005 | 8,337 | 13,804 | |||||
Income tax expense | 457 | 923 | 1,375 | 2,480 | |||||
Net income | 2,319 | $ 2,058 | $ 2,585 | 4,082 | $ 3,992 | $ 3,250 | 6,962 | 11,324 | |
Other data: | |||||||||
Total assets | 1,801,470 | 1,801,470 | $ 1,616,717 | ||||||
Community Banking [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Interest Income | 17,779 | 12,449 | 49,479 | 33,906 | |||||
Interest Expense | 7,563 | 1,042 | 18,015 | 1,713 | |||||
Net Interest Income (Expense) | 10,216 | 11,407 | 31,464 | 32,193 | |||||
Gain on sales of loans | 253 | 216 | 589 | 468 | |||||
Other noninterest income | 1,741 | 1,476 | 5,462 | 5,575 | |||||
Net Revenue | 12,210 | 13,099 | 37,515 | 38,236 | |||||
Provision for credit losses | 453 | (202) | 1,405 | 388 | |||||
Noninterest expense | 11,131 | 9,243 | 32,247 | 26,800 | |||||
Income before taxes | 626 | 4,058 | 3,863 | 11,048 | |||||
Income tax expense | 2 | 724 | 435 | 1,902 | |||||
Net income | 624 | 3,334 | 3,428 | 9,146 | |||||
Other data: | |||||||||
Capital expenditures | 1,120 | 0 | 1,091 | 307 | |||||
Depreciation and amortization | 715 | 699 | 989 | 974 | |||||
Total assets | 1,530,922 | 1,530,922 | 1,377,461 | ||||||
Marine Lending [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Interest Income | 4,412 | 1,917 | 11,634 | 4,616 | |||||
Interest Expense | 1,358 | 88 | 4,033 | 177 | |||||
Net Interest Income (Expense) | 3,054 | 1,829 | 7,601 | 4,439 | |||||
Gain on sales of loans | 12 | 352 | 324 | 1,076 | |||||
Other noninterest income | 1,013 | 25 | 1,106 | 60 | |||||
Net Revenue | 4,079 | 2,206 | 9,031 | 5,575 | |||||
Provision for credit losses | (237) | 202 | (122) | 512 | |||||
Noninterest expense | 2,285 | 1,155 | 4,925 | 2,442 | |||||
Income before taxes | 2,031 | 849 | 4,228 | 2,621 | |||||
Income tax expense | 427 | 178 | 888 | 550 | |||||
Net income | 1,604 | 671 | 3,340 | 2,071 | |||||
Other data: | |||||||||
Capital expenditures | 0 | 162 | 36 | 170 | |||||
Depreciation and amortization | 32 | 64 | 224 | 157 | |||||
Total assets | 268,704 | 268,704 | 237,595 | ||||||
All Other [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Interest Income | 0 | 0 | 0 | 0 | |||||
Interest Expense | 354 | 337 | 1,063 | 675 | |||||
Net Interest Income (Expense) | (354) | (337) | (1,063) | (675) | |||||
Gain on sales of loans | 0 | 0 | 0 | 0 | |||||
Other noninterest income | 1,190 | 1,095 | 3,611 | 3,077 | |||||
Net Revenue | 836 | 758 | 2,548 | 2,402 | |||||
Provision for credit losses | 0 | 0 | 0 | 0 | |||||
Noninterest expense | 717 | 660 | 2,302 | 2,267 | |||||
Income before taxes | 119 | 98 | 246 | 135 | |||||
Income tax expense | 28 | 21 | 52 | 28 | |||||
Net income | 91 | 77 | 194 | 107 | |||||
Other data: | |||||||||
Capital expenditures | 0 | 0 | 0 | 16 | |||||
Depreciation and amortization | 48 | 49 | 145 | 128 | |||||
Total assets | 1,844 | 1,844 | 1,661 | ||||||
Eliminations [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Interest Income | 0 | 0 | 0 | 0 | |||||
Interest Expense | 0 | 0 | 0 | 0 | |||||
Net Interest Income (Expense) | 0 | 0 | 0 | 0 | |||||
Gain on sales of loans | 0 | 0 | 0 | 0 | |||||
Other noninterest income | 0 | 0 | 0 | 0 | |||||
Net Revenue | 0 | 0 | 0 | 0 | |||||
Provision for credit losses | 0 | 0 | 0 | 0 | |||||
Noninterest expense | 0 | 0 | 0 | 0 | |||||
Income before taxes | 0 | 0 | 0 | 0 | |||||
Income tax expense | 0 | 0 | 0 | 0 | |||||
Net income | 0 | 0 | 0 | 0 | |||||
Other data: | |||||||||
Capital expenditures | 0 | 0 | 0 | 0 | |||||
Depreciation and amortization | 0 | 0 | 0 | 0 | |||||
Total assets | 0 | 0 | 0 | ||||||
Consolidated [Member] | |||||||||
Segment Reporting Information [Line Items] | |||||||||
Interest Income | 22,191 | 14,366 | 61,113 | 38,522 | |||||
Interest Expense | 9,275 | 1,467 | 23,111 | 2,565 | |||||
Net Interest Income (Expense) | 12,916 | 12,899 | 38,002 | 35,957 | |||||
Gain on sales of loans | 265 | 568 | 913 | 1,544 | |||||
Other noninterest income | 3,944 | 2,596 | 10,179 | 8,712 | |||||
Net Revenue | 17,125 | 16,063 | 49,094 | 46,213 | |||||
Provision for credit losses | 216 | 0 | 1,283 | 900 | |||||
Noninterest expense | 14,133 | 11,058 | 39,474 | 31,509 | |||||
Income before taxes | 2,776 | 5,005 | 8,337 | 13,804 | |||||
Income tax expense | 457 | 923 | 1,375 | 2,480 | |||||
Net income | 2,319 | 4,082 | 6,962 | 11,324 | |||||
Other data: | |||||||||
Capital expenditures | 1,120 | 162 | 1,127 | 493 | |||||
Depreciation and amortization | 795 | $ 812 | 1,358 | $ 1,259 | |||||
Total assets | $ 1,801,470 | $ 1,801,470 | $ 1,616,717 |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Aug. 23, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Segment Reporting Information [Line Items] | |||||
Gain On Sale Of Finance Business | $ 463,000 | $ 0 | $ 463,000 | $ 0 | |
Axos Bank [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Loans sold | $ 52,800,000 | ||||
Service loan | 595,400 | ||||
Loan Purchase Agreement [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Selling Expense net | 53,500,000 | ||||
Gain On Sale Of Finance Business | $ 463,000 |
Employee Stock Ownership Plan (
Employee Stock Ownership Plan (Additional Information) (Details) - shares | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2023 | |
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||||
Shares repurchase and retired | 4,941 | 3,590 | 1,031 | 3,411 | ||
Employee Stock Ownership Plan [Member] | ||||||
Employee Stock Ownership Plan (ESOP) Disclosures [Line Items] | ||||||
Shares repurchase and retired | 3,772 | |||||
Shares moved to participant accounts | 82,606 |