Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2024 | May 09, 2024 | |
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 | Mar. 31, 2024 | |
Document Fiscal Year Focus | 2024 | |
Document Fiscal Period Focus | Q1 | |
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 | 3,556,844 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Assets | ||
Cash and due from banks | $ 12,887 | $ 15,417 |
Interest-bearing deposits with other institutions | 55,393 | 96,649 |
Federal funds sold | 59,353 | 26,287 |
Total cash and cash equivalents | 127,633 | 138,353 |
Securities available for sale, at fair value, amortized cost of $156,962 and $160,251, respectively | 131,867 | 137,443 |
Restricted investments, at cost | 9,239 | 9,568 |
Loans held for sale | 1,593 | 1,661 |
Loans | 1,439,052 | 1,462,686 |
Allowance for credit losses | (14,448) | (14,493) |
Net Loans | 1,424,604 | 1,448,193 |
Bank premises and equipment, net | 17,954 | 18,108 |
Bank owned life insurance | 29,843 | 29,575 |
Other assets | 40,168 | 42,696 |
Total assets | 1,782,901 | 1,825,597 |
Deposits: | ||
Noninterest bearing demand deposits | 424,869 | 436,619 |
Savings and interest bearing demand deposits | 666,730 | 656,439 |
Time deposits | 382,343 | 413,264 |
Total deposits | 1,473,942 | 1,506,322 |
Federal funds purchased | 347 | 0 |
Federal Home Loan Bank advances, short-term | 10,000 | 20,000 |
Federal Home Loan Bank advances, long-term | 145,000 | 145,000 |
Subordinated debt, net of unamortized issuance costs | 29,461 | 29,444 |
Other liabilities | 16,446 | 16,452 |
Total liabilities | 1,675,196 | 1,717,218 |
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 2024, 3,557,229 including 75,297 shares of unvested restricted stock; issued and outstanding 2023, 3,520,894 including 56,914 shares of unvested restricted stock | 8,705 | 8,660 |
Surplus | 14,368 | 14,280 |
Retained earnings | 104,449 | 103,445 |
Accumulated other comprehensive (loss) | (19,817) | (18,006) |
Total shareholders’ equity | 107,705 | 108,379 |
Total liabilities and shareholders’ equity | $ 1,782,901 | $ 1,825,597 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
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 | 3,557,229 | 3,520,894 |
Common stock, shares, outstanding | 3,557,229 | 3,520,894 |
Common stock, unvested restricted shares | 75,297 | 56,914 |
Securities available for sale | $ 156,962 | $ 160,251 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Interest and Dividend Income | ||
Interest and fees on loans | $ 19,963 | $ 17,167 |
Interest and dividends on securities available for sale: | ||
Taxable interest income | 758 | 804 |
Interest income exempt from federal income taxes | 5 | 4 |
Dividends | 156 | 83 |
Interest on deposits in banks | 991 | 490 |
Interest on federal funds sold | 39 | 10 |
Total interest and dividend income | 21,912 | 18,558 |
Interest Expense | ||
Interest on deposits | 7,424 | 3,459 |
Interest on federal funds purchased | 0 | 70 |
Interest on Federal Home Loan Bank advances | 1,710 | 2,031 |
Interest on subordinated debt | 354 | 354 |
Total interest expense | 9,488 | 5,914 |
Net Interest Income | 12,424 | 12,644 |
Provision for credit losses | 475 | 664 |
Net interest income after provision for credit losses | 11,949 | 11,980 |
Noninterest Income | ||
Wealth management fees | 1,456 | 1,158 |
Service charges on deposit accounts | 454 | 436 |
Other service charges and fees | 969 | 1,047 |
Gain on sale of loans | 161 | 456 |
Bank owned life insurance income | 268 | 179 |
Other operating income | 163 | 250 |
Total noninterest income | 3,471 | 3,526 |
Noninterest Expenses | ||
Salaries and employee benefits | 7,185 | 7,298 |
Occupancy expenses | 569 | 518 |
Equipment expenses | 373 | 323 |
Advertising and marketing expenses | 237 | 296 |
Stationery and supplies | 24 | 22 |
ATM network fees | 380 | 351 |
Other real estate owned expense | 0 | 5 |
(Gain) on other real estate owned | 0 | (7) |
FDIC assessment | 409 | 266 |
Computer software expense | 233 | 310 |
Bank franchise tax | 331 | 263 |
Professional fees | 506 | 713 |
Data processing fees | 565 | 402 |
Other operating expenses | 1,565 | 1,626 |
Total noninterest expenses | 12,377 | 12,386 |
Income before income taxes | 3,043 | 3,120 |
Income tax expense | 495 | 535 |
Net income | $ 2,548 | $ 2,585 |
Earnings Per Share | ||
Net income per common share, basic | $ 0.72 | $ 0.73 |
Net income per common share, diluted | $ 0.72 | $ 0.73 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statement of Comprehensive Income [Abstract] | ||
Net Income (Loss) | $ 2,548 | $ 2,585 |
Other comprehensive (loss) income: | ||
Unrealized (loss) gain on available for sale securities, net of deferred income tax of $(480) and $792 for the three months ended, respectively | (1,807) | 2,980 |
Changes in benefit obligations and plan assets for post retirement benefit plans, net of reclassification adjustments, net of deferred income tax of $(1) and $(3) for the three months ended, respectively | (4) | (5) |
Total other comprehensive (loss) income | (1,811) | 2,975 |
Total comprehensive income | $ 737 | $ 5,560 |
Consolidated Statements of Co_2
Consolidated Statements of Comprehensive Income (Unaudited) (Parenthetical) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statement of Comprehensive Income [Abstract] | ||
Unrealized (loss) on available for sale securities, deferred income tax | $ (480) | $ 792 |
Changes in benefit obligations and plan assets for post retirement benefit plans, deferred income taxes | $ (1) | $ (3) |
Consolidated Statements of Chan
Consolidated Statements of Changes In Shareholders' Equity - USD ($) $ in Thousands | Total | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income (Loss) [Member] |
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 (Loss) | 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, 2023 | 108,379 | 8,660 | 14,280 | 103,445 | (18,006) | |
Cumulative effect adjustment for adopton of ASU 2023-02 | (477) | $ 477 | (477) | |||
Net Income (Loss) | 2,548 | 2,548 | ||||
Other comprehensive income (loss) | (1,811) | (1,811) | ||||
Vesting of restricted stock awards, stock incentive plan | 59 | (59) | ||||
Stock-based compensation expense | 302 | 302 | ||||
Repurchase and retirement of common stock | (169) | (14) | (155) | |||
Dividends declared | (1,067) | (1,067) | ||||
End Balance at Mar. 31, 2024 | $ 107,705 | $ 8,705 | $ 14,368 | $ 104,449 | $ (19,817) |
Consolidated Statements of Ch_2
Consolidated Statements of Changes In Shareholders' Equity (Parenthetical) - $ / shares | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Statement of Stockholders' Equity [Abstract] | ||
Issuance of restricted stock, stock incentive plan, shares | 23,557 | 12,749 |
Shares repurchase and retired | 5,605 | 3,590 |
Dividends declared, per share | $ 0.3 | $ 0.3 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Cash Flows from Operating Activities | ||
Net Income (Loss) | $ 2,548 | $ 2,585 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation | 248 | 244 |
Amortization of other assets | 139 | 319 |
Origination of loans held for sale | (10,755) | (4,078) |
Proceeds from sale of loans held for sale | 10,984 | 4,445 |
Net (gain) on sales of loans | (161) | (456) |
Provision for credit losses | 475 | 664 |
(Gain) on other real estate owned | 0 | (7) |
Amortization of subordinated debt issuance costs | 17 | 17 |
Stock-based compensation expense | 302 | 317 |
Premium amortization on securities, net | 68 | 93 |
Bank owned life insurance income | (268) | (179) |
Changes in assets and liabilities: | ||
Decrease (increase) in other assets | 2,452 | (3,017) |
Increase (decrease) in other liabilities | 705 | (733) |
Net cash provided by operating activities | 6,754 | 214 |
Cash Flows from Investing Activities | ||
Proceeds from maturities, calls, and principal payments of securities available for sale | 3,221 | 3,945 |
Proceeds from the sale of restricted investments | 950 | 0 |
Purchases of restricted investments | (621) | (2,069) |
Purchases of bank premises and equipment | (94) | (7) |
Proceeds from the sale of other real estate owned | 0 | 115 |
Proceeds from sales of loans | 0 | 23,762 |
Origination of loans net of principal collected | 23,003 | (100,575) |
Funding of capital commitments related to other investments | (664) | (275) |
Net cash provided by (used in) investing activities | 25,795 | (75,104) |
Cash Flows from Financing Activities | ||
Net (decrease) increase in noninterest bearing demand deposits, savings, and interest bearing demand deposits | (1,459) | 10,744 |
Net (decrease) increase in time deposits | (30,921) | 115,132 |
Net increase (decrease) in federal funds purchased | 347 | (32,980) |
Net (decrease) in short-term Federal Home Loan Bank advances | (10,000) | 0 |
Advances of long-term Federal Home Loan Bank advances | 0 | 45,000 |
Repurchase and retirement of common stock | (169) | (128) |
Cash dividends paid | (1,067) | (1,057) |
Net cash (used in) provided by financing activities | (43,269) | 136,711 |
(Decrease) increase in cash and cash equivalents | (10,720) | 61,821 |
Cash and Cash Equivalents | ||
Beginning | 138,353 | 66,894 |
Ending | 127,633 | 128,715 |
Supplemental Disclosures of Cash Flow Information | ||
Interest | 9,923 | 4,795 |
Income taxes | 0 | 311 |
Supplemental Schedule of Noncash Investing and Financing Activities: | ||
Unrealized (loss) on securities available for sale | (2,287) | 3,772 |
Minimum postretirement liability adjustment | (5) | (8) |
Repossessed assets acquired in settlement of loans | $ 111 | $ 0 |
Pay vs Performance Disclosure
Pay vs Performance Disclosure - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Pay vs Performance Disclosure | ||
Net Income (Loss) | $ 2,548 | $ 2,585 |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended |
Mar. 31, 2024 | |
Trading Arrangements, by Individual | |
Rule 10b5-1 Arrangement Adopted | false |
Non-Rule 10b5-1 Arrangement Adopted | false |
Rule 10b5-1 Arrangement Terminated | false |
Non-Rule 10b5-1 Arrangement Terminated | false |
General
General | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 and December 31, 2023, the results of operations and the changes in shareholders' equity for the three months ended March 31, 2024 and 2023, and cash flows for the three months ended March 31, 2024 and 2023. The results of operations for the three months ended March 31, 2024 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, 2023 (the “2023 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, 2024, the Company adopted Accounting Standards Update ("ASU") 2023-02, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method," ("ASC 323"). 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 adoption resulted in an adjustment of $ 477 thousand, which reduced the investment balance and shareholders' equity. Th e 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 pre serve and protect project assets. |
Stock-Based Compensation Plan
Stock-Based Compensation Plan | 3 Months Ended |
Mar. 31, 2024 | |
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 . 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 March 31, 2024 , there was $ 1.4 million of unrecognized compensation cost related to nonvested restricted stock. The following table presents restricted stock activity for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Shares Weighted Shares Weighted Nonvested, beginning of period 56,914 $ 35.06 38,780 $ 33.47 Granted 41,940 30.00 36,378 36.80 Vested ( 23,557 ) 34.22 ( 12,749 ) 32.33 Forfeited — — — — Nonvested, end of period 75,297 $ 32.45 62,409 $ 35.64 |
Earnings Per Common Share
Earnings Per Common Share | 3 Months Ended |
Mar. 31, 2024 | |
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 months ended March 31, 2024 and 2023. During 2024 and 2023 , there were no potentially dilutive securities outstanding. Three Months Ended March 31, 2024 2023 Average number of common shares outstanding used to calculate basic and diluted earnings per share 3,557,203 3,522,431 |
Securities
Securities | 3 Months Ended |
Mar. 31, 2024 | |
Debt Securities, Available-for-Sale [Abstract] | |
Securities | NOTE 4. Securities On January 1, 2023, the Company adopted Accounting Standards Codification ("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 current expected credit losses ("CECL") methodology that requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. All securities information presented below is in accordance with ASC 326. Amortized costs and fair values of securities available for sale at March 31, 2024 and December 31, 2023 were as follows: Amortized Gross Gross Fair Value March 31, 2024 (in thousands) Obligations of U.S. government corporations and agencies $ 8,960 $ — $ ( 739 ) $ 8,221 Mortgage-backed securities 137,061 — ( 23,330 ) 113,731 Obligations of states and political subdivisions 6,191 — ( 360 ) 5,831 Subordinated debt 4,750 — ( 666 ) 4,084 $ 156,962 $ — $ ( 25,095 ) $ 131,867 December 31, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ 9,258 $ — $ ( 667 ) $ 8,591 Mortgage-backed securities 140,052 — ( 21,230 ) 118,822 Obligations of states and political subdivisions 6,191 1 ( 261 ) 5,931 Subordinated debt 4,750 — ( 651 ) 4,099 $ 160,251 $ 1 $ ( 22,809 ) $ 137,443 The amortized cost and estimated fair value of securities at March 31, 2024 , by the earlier of contractual maturity or expected maturity, are shown below. The Company has elected to exclude accrued interest receivable, totaling $ 380 thousand at March 31, 2024, 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 $ 1,269 $ 1,263 Due after one year through five years 7,446 7,033 Due after five years through ten years 17,473 15,512 Due after ten years 130,774 108,059 $ 156,962 $ 131,867 There have been no sales of available for sale securities during the three months ended March 31, 2024, or 2023. 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 March 31, 2024 and December 31, 2023 were as follows: Less than 12 months 12 months or more Total Fair Value Gross Fair Value Gross Fair Value Gross March 31, 2024 (in thousands) Obligations of U.S. government corporations and agencies $ — $ — $ 8,221 $ 739 $ 8,221 $ 739 Mortgage-backed securities — — 113,731 23,330 113,731 23,330 Obligations of states and political subdivisions 496 4 5,335 356 5,831 360 Subordinated debt — — 3,584 666 3,584 666 $ 496 $ 4 $ 130,871 $ 25,091 $ 131,367 $ 25,095 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, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ — $ — $ 8,591 $ 667 $ 8,591 $ 667 Mortgage-backed securities — — 118,822 21,230 118,822 21,230 Obligations of states and political subdivisions — — 5,430 261 5,430 261 Subordinated debt 221 29 3,378 622 3,599 651 $ 221 $ 29 $ 136,221 $ 22,780 $ 136,442 $ 22,809 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 $ 131.4 million of aggregate fair value as of March 31, 2024. The Company concluded that a credit loss does not exist in its securities portfolio at March 31, 2024, 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 $ 7.4 mi llion at March 31, 2024 were pledged as security for trust accounts. The composition of restricted investments at March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 December 31, 2023 (in thousands) Federal Reserve Bank Stock $ 344 $ 344 Federal Home Loan Bank Stock 8,755 9,084 Community Bankers’ Bank Stock 140 140 $ 9,239 $ 9,568 |
Loans and Allowance for Loan Lo
Loans and Allowance for Loan Losses | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Loans and Allowance for Credit Losses on Loan | NOTE 5. Loans and Allowance for Credit Losses on Loans The composition of loans at March 31, 2024 and December 31, 2023 was as follows: March 31, December 31, 2024 2023 (in thousands) Mortgage real estate loans: Construction & Secured by Farmland $ 82,692 $ 84,145 HELOCs 46,329 47,674 Residential First Lien - Investor 113,813 117,431 Residential First Lien - Owner Occupied 181,323 178,180 Residential Junior Liens 12,690 12,831 Commercial - Owner Occupied 254,744 251,456 Commercial - Non-Owner Occupied & Multifamily 344,192 348,879 Commercial and industrial loans: SBA PPP loans 45 51 Other commercial and industrial loans 100,067 107,777 Marine loans 247,042 251,168 Consumer loans 34,529 42,419 Overdrafts 1,559 253 Other loans 12,466 12,895 Total loans $ 1,431,491 $ 1,455,159 Net deferred loan costs and premiums 7,561 7,527 Allowance for credit losses ( 14,448 ) ( 14,493 ) $ 1,424,604 $ 1,448,193 At March 31, 2024 , the Company was servicing $ 7.6 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 $ 144 thousand at March 31, 2024, 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. Changes in the allowance for credit losses on loans for the three months ended March 31, 2024 and 2023, and the year ended December 31, 2023 were as follows: Three Months Ended Year Ended Three Months Ended March 31, December 31, March 31, 2024 2023 2023 (in thousands) Balance, beginning $ 14,493 $ 11,218 $ 11,218 Cumulative effect adjustment for adoption of ASC 326 — 2,077 2,077 Provision for credit losses 475 1,641 709 Recoveries added to the allowance 185 298 21 Credit losses charged to the allowance ( 705 ) ( 741 ) ( 75 ) Balance, ending $ 14,448 $ 14,493 $ 13,950 Past due loans by class at March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 (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 $ — $ — $ — $ — $ 82,692 $ 82,692 $ — HELOCs — 19 — 19 46,310 46,329 — Residential First Lien - Investor 904 — — 904 112,909 113,813 — Residential First Lien - Owner Occupied 139 — 147 286 181,037 181,323 — Residential Junior Liens — — 9 9 12,681 12,690 — Commercial - Owner Occupied 7 — — 7 254,737 254,744 — Commercial - Non-Owner Occupied & Multifamily 295 — — 295 343,897 344,192 — Commercial and industrial loans: SBA PPP loans — — — — 45 45 — Other commercial and industrial loans — — 162 162 99,905 100,067 159 Marine loans 605 — 514 1,119 245,923 247,042 — Consumer loans 222 — 252 474 34,055 34,529 252 Overdrafts — — — — 1,559 1,559 — Other loans — — — — 12,466 12,466 — Total $ 2,172 $ 19 $ 1,084 $ 3,275 $ 1,428,216 $ 1,431,491 $ 411 December 31, 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 $ — $ — $ — $ — $ 84,145 $ 84,145 $ — HELOCs — — — — 47,674 47,674 — Residential First Lien - Investor 844 253 — 1,097 116,334 117,431 — Residential First Lien - Owner Occupied — 78 149 227 177,953 178,180 — Residential Junior Liens — — 9 9 12,822 12,831 — Commercial - Owner Occupied — — — — 251,456 251,456 — Commercial - Non-Owner Occupied & Multifamily — — — — 348,879 348,879 — Commercial and industrial loans: SBA PPP loans — — — — 51 51 — Other commercial and industrial loans 9 — 26 35 107,742 107,777 14 Marine loans — — 552 552 250,616 251,168 — Consumer loans 173 — 167 340 42,079 42,419 167 Overdrafts — — — — 253 253 — Other loans — — — — 12,895 12,895 — Total $ 1,026 $ 331 $ 903 $ 2,260 $ 1,452,899 $ 1,455,159 $ 181 Nonaccrual loans by class at March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 (in thousands) (in thousands) Nonaccruals with No Allowance for Credit Losses Nonaccrual with an Allowance for Credit Losses Nonaccrual Nonaccruals with No Allowance for Credit Losses Nonaccrual with an Allowance for Credit Losses Nonaccrual Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ — $ 95 $ — $ 95 HELOCs — — — 15 — 15 Residential First Lien - Investor 1,063 — 1,063 1,085 — 1,085 Residential First Lien - Owner Occupied 224 — 224 228 — 228 Residential Junior Liens 9 — 9 11 — 11 Commercial - Owner Occupied 7 — 7 22 — 22 Commercial - Non-Owner Occupied & Multifamily 2,336 — 2,336 3,625 — 3,625 Commercial and industrial loans: SBA PPP loans — — — — — — Other commercial and industrial loans 3 — 3 12 — 12 Marine loans 514 — 514 552 — 552 Consumer loans — — — — — — Overdrafts — — — — — — Other loans — — — — — — Total $ 4,156 $ — $ 4,156 $ 5,645 $ — $ 5,645 The allowance for credit losses on loans by segment at March 31, 2024 and December 31, 2023 was as follows: As of and For the Three Months Ended March 31, 2024 (in thousands) Construction Residential Commercial Commercial Marine Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 772 $ 4,725 $ 6,224 $ 1,027 $ 1,153 $ 198 $ 394 $ — $ 14,493 Charge-Offs ( 94 ) ( 15 ) — ( 74 ) ( 453 ) ( 38 ) ( 31 ) — ( 705 ) Recoveries 2 6 155 14 — 5 3 — 185 Provision 197 ( 95 ) ( 473 ) 24 841 ( 32 ) ( 85 ) 98 475 Ending balance $ 877 $ 4,621 $ 5,906 $ 991 $ 1,541 $ 133 $ 281 $ 98 $ 14,448 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment $ 877 $ 4,621 $ 5,906 $ 991 $ 1,541 $ 133 $ 281 $ 98 $ 14,448 Loans: Ending balance $ 82,692 $ 354,155 $ 598,936 $ 100,112 $ 247,042 $ 34,529 $ 14,025 $ — $ 1,431,491 Ending balance: Individually evaluated for impairment $ — $ 1,263 $ 2,336 $ — $ 514 $ — $ — $ — $ 4,113 Ending balance: Collectively evaluated for impairment $ 82,692 $ 352,892 $ 596,600 $ 100,112 $ 246,528 $ 34,529 $ 14,025 $ — $ 1,427,378 As of and For the Year Ended December 31, 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 — — — ( 312 ) ( 126 ) ( 121 ) ( 182 ) — ( 741 ) Recoveries 8 18 — 43 — 48 181 — 298 Provision ( 110 ) 1,039 419 176 9 95 13 — 1,641 Ending balance $ 772 $ 4,725 $ 6,224 $ 1,027 $ 1,153 $ 198 $ 394 $ — $ 14,493 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment $ 772 $ 4,725 $ 6,224 $ 1,027 $ 1,153 $ 198 $ 394 $ — $ 14,493 Loans: Ending balance $ 84,145 $ 356,116 $ 600,335 $ 107,828 $ 251,168 $ 42,419 $ 13,148 $ — $ 1,455,159 Ending balance: Individually evaluated for impairment $ 95 $ 1,288 $ 3,639 $ — $ 552 $ — $ — $ — $ 5,574 Ending balance: Collectively evaluated for impairment $ 84,050 $ 354,828 $ 596,696 $ 107,828 $ 250,616 $ 42,419 $ 13,148 $ — $ 1,449,585 The following table presents the amortized cost basis of collateral-dependent loans by loan portfolio segment: March 31, 2024 December 31, 2023 (in thousands) (in thousands) (in thousands) Real Estate Collateral Other Collateral Total Real Estate Collateral Other Collateral Total Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ — $ 95 $ — $ 95 HELOCs — — — — — — Residential First Lien - Investor 1,063 — 1,063 1,086 — 1,086 Residential First Lien - Owner Occupied 191 — 191 194 — 194 Residential Junior Liens 9 — 9 8 — 8 Commercial - Owner Occupied — — — 14 — 14 Commercial - Non-Owner Occupied & Multifamily 2,336 — 2,336 3,625 — 3,625 Commercial and industrial loans: SBA PPP loans — — — — — — Other commercial and industrial loans — — — — — — Marine loans — 514 514 — 552 552 Consumer loans — — — — — — Overdrafts — — — — — — Other loans — — — — — — $ 3,599 $ 514 $ 4,113 $ 5,022 $ 552 $ 5,574 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 March 31, 2024. 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 analysis is performed on a quarterly basis. The following table presents risk ratings by loan portfolio segment and origination year. 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 March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 Term Loan Amortized Cost Basis by Origination Year (in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage real estate loans: Construction & Secured by Farmland Pass $ 3,581 $ 32,199 $ 20,332 $ 4,911 $ 4,797 $ 5,904 $ 3,225 $ — $ 74,949 Special Mention — 6,532 — — — 1,032 — — 7,564 Classified — — — — 143 36 — — 179 Total $ 3,581 $ 38,731 $ 20,332 $ 4,911 $ 4,940 $ 6,972 $ 3,225 $ — $ 82,692 Current period gross charge-offs $ — $ — $ — $ — $ — $ 94 $ — $ — $ 94 HELOCs Pass $ — $ — $ — $ — $ — $ — $ 46,280 $ — $ 46,280 Special Mention — — — — — — 49 — 49 Classified — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ 46,329 $ — $ 46,329 Current period gross charge-offs $ — $ — $ — $ — $ — $ 14 $ — $ — $ 14 Residential First Lien - Investor Pass $ 1,674 $ 18,785 $ 22,529 $ 30,136 $ 9,795 $ 24,715 $ — $ 1,146 $ 108,780 Special Mention — — 277 276 1,772 1,645 — — 3,970 Classified — — — 1,063 — — — — 1,063 Total $ 1,674 $ 18,785 $ 22,806 $ 31,475 $ 11,567 $ 26,360 $ — $ 1,146 $ 113,813 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Owner Occupied Pass $ 8,267 $ 55,504 $ 34,025 $ 23,561 $ 35,310 $ 23,404 $ — $ 556 $ 180,627 Special Mention — — — — — 47 — — 47 Classified — — — — — 649 — — 649 Total $ 8,267 $ 55,504 $ 34,025 $ 23,561 $ 35,310 $ 24,100 $ — $ 556 $ 181,323 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Junior Liens Pass $ 242 $ 2,643 $ 2,836 $ 3,357 $ 1,460 $ 1,926 $ — $ 186 $ 12,650 Special Mention — — — — — — — — — Classified — — — — — 25 — 15 40 Total $ 242 $ 2,643 $ 2,836 $ 3,357 $ 1,460 $ 1,951 $ — $ 201 $ 12,690 Current period gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ 1 Commercial - Owner Occupied Pass $ 3,795 $ 35,991 $ 66,215 $ 35,461 $ 22,616 $ 62,550 $ 1,629 $ 4,226 $ 232,483 Special Mention — 558 10,193 4,397 2,129 3,525 — — 20,802 Classified — — — 958 494 7 — — 1,459 Total $ 3,795 $ 36,549 $ 76,408 $ 40,816 $ 25,239 $ 66,082 $ 1,629 $ 4,226 $ 254,744 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Non-Owner Occupied & Multifamily Pass $ 959 $ 41,292 $ 80,586 $ 65,003 $ 62,800 $ 47,580 $ 1,196 $ 5,561 $ 304,977 Special Mention — 15,671 10,807 3,659 6,741 — — — 36,878 Classified — — — — 2,337 — — — 2,337 Total $ 959 $ 56,963 $ 91,393 $ 68,662 $ 71,878 $ 47,580 $ 1,196 $ 5,561 $ 344,192 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial and industrial loans: SBA PPP loans Pass $ — $ — $ — $ 45 $ — $ — $ — $ — $ 45 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ — $ — $ 45 $ — $ — $ — $ — $ 45 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial and industrial loans Pass $ 3,766 $ 12,803 $ 25,956 $ 8,154 $ 4,421 $ 6,268 $ 32,496 $ 1,042 $ 94,906 Special Mention — 2,969 — — — 44 1,829 316 5,158 Classified — — — — 3 — — — 3 Total $ 3,766 $ 15,772 $ 25,956 $ 8,154 $ 4,424 $ 6,312 $ 34,325 $ 1,358 $ 100,067 Current period gross charge-offs $ — $ 11 $ 9 $ — $ 54 $ — $ — $ — $ 74 Marine loans Pass $ — $ 84,210 $ 126,544 $ 35,114 $ 660 $ — $ — $ — $ 246,528 Special Mention — — — — — — — — — Classified — 514 — — — — — — 514 Total $ — $ 84,724 $ 126,544 $ 35,114 $ 660 $ — $ — $ — $ 247,042 Current period gross charge-offs $ — $ 366 $ 87 $ — $ — $ — $ — $ — $ 453 Consumer loans Pass $ 699 $ 2,993 $ 13,411 $ 5,966 $ 8,448 $ 1,692 $ 1,279 $ 41 $ 34,529 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 699 $ 2,993 $ 13,411 $ 5,966 $ 8,448 $ 1,692 $ 1,279 $ 41 $ 34,529 Current period gross charge-offs $ 28 $ 10 $ — $ — $ — $ — $ — $ — $ 38 Overdrafts Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Classified 1,559 — — — — — — — 1,559 Total $ 1,559 $ — $ — $ — $ — $ — $ — $ — $ 1,559 Current period gross charge-offs $ 31 $ — $ — $ — $ — $ — $ — $ — $ 31 Other loans Pass $ — $ 65 $ 9,927 $ — $ — $ 2,409 $ 59 $ 6 $ 12,466 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ 65 $ 9,927 $ — $ — $ 2,409 $ 59 $ 6 $ 12,466 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total by Risk Category Pass $ 22,983 $ 286,485 $ 402,361 $ 211,708 $ 150,307 $ 176,448 $ 86,164 $ 12,764 $ 1,349,220 Special Mention — 25,730 21,277 8,332 10,642 6,293 1,878 316 74,468 Classified 1,559 514 — 2,021 2,977 717 — 15 7,803 Total $ 24,542 $ 312,729 $ 423,638 $ 222,061 $ 163,926 $ 183,458 $ 88,042 $ 13,095 $ 1,431,491 Total current period gross charge-offs $ 59 $ 387 $ 96 $ — $ 54 $ 109 $ — $ — $ 705 December 31, 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 $ 34,617 $ 21,460 $ 7,584 $ 4,851 $ 2,389 $ 2,829 $ 7,052 $ 57 $ 80,839 Special Mention — 1,173 — — 1,040 815 — — 3,028 Classified — — — 145 — 133 — — 278 Total $ 34,617 $ 22,633 $ 7,584 $ 4,996 $ 3,429 $ 3,777 $ 7,052 $ 57 $ 84,145 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — HELOCs Pass $ — $ — $ — $ — $ — $ — $ 47,610 $ — $ 47,610 Special Mention — — — — — — 49 — 49 Classified — — — — — — 15 — 15 Total $ — $ — $ — $ — $ — $ — $ 47,674 $ — $ 47,674 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Investor Pass $ 19,394 $ 23,205 $ 31,371 $ 10,667 $ 4,054 $ 22,265 $ — $ 367 $ 111,323 Special Mention — 1,273 — 1,180 626 1,944 — — 5,023 Classified — — 1,085 — — — — — 1,085 Total $ 19,394 $ 24,478 $ 32,456 $ 11,847 $ 4,680 $ 24,209 $ — $ 367 $ 117,431 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Owner Occupied Pass $ 59,007 $ 33,793 $ 23,749 $ 35,783 $ 3,932 $ 20,413 $ — $ 589 $ 177,266 Special Mention — — — — — 258 — — 258 Classified — — — — — 656 — — 656 Total $ 59,007 $ 33,793 $ 23,749 $ 35,783 $ 3,932 $ 21,327 $ — $ 589 $ 178,180 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Junior Liens Pass $ 2,562 $ 2,902 $ 3,429 $ 1,486 $ 606 $ 1,613 $ — $ 189 $ 12,787 Special Mention — — — — — — — — — Classified — — — — — 27 — 17 44 Total $ 2,562 $ 2,902 $ 3,429 $ 1,486 $ 606 $ 1,640 $ — $ 206 $ 12,831 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Owner Occupied Pass $ 36,736 $ 68,868 $ 40,707 $ 22,871 $ 13,971 $ 50,059 $ 3,088 $ 4,364 $ 240,664 Special Mention — 3,817 64 2,145 1,877 1,402 — — 9,305 Classified — — 967 498 — 8 — 14 1,487 Total $ 36,736 $ 72,685 $ 41,738 $ 25,514 $ 15,848 $ 51,469 $ 3,088 $ 4,378 $ 251,456 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Non-Owner Occupied & Multifamily Pass $ 56,510 $ 88,518 $ 64,005 $ 65,075 $ 15,563 $ 34,619 $ 1,196 $ 5,651 $ 331,137 Special Mention 624 4,748 3,685 5,060 — — — — 14,117 Classified — — — 2,355 — 1,270 — — 3,625 Total $ 57,134 $ 93,266 $ 67,690 $ 72,490 $ 15,563 $ 35,889 $ 1,196 $ 5,651 $ 348,879 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial and industrial loans: SBA PPP loans Pass $ — $ — $ 51 $ — $ — $ — $ — $ — $ 51 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ — $ 51 $ — $ — $ — $ — $ — $ 51 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial and industrial loans Pass $ 15,052 $ 26,798 $ 8,659 $ 4,824 $ 2,629 $ 3,898 $ 43,188 $ 1,005 $ 106,053 Special Mention 1,125 — — 13 1 9 220 344 1,712 Classified — — — 3 — — 9 — 12 Total $ 16,177 $ 26,798 $ 8,659 $ 4,840 $ 2,630 $ 3,907 $ 43,417 $ 1,349 $ 107,777 Current period gross charge-offs $ 231 $ 81 $ — $ — $ — $ — $ — $ — $ 312 Marine loans Pass $ 86,001 $ 128,456 $ 35,492 $ 667 $ — $ — $ — $ — $ 250,616 Special Mention — — — — — — — — — Classified 367 185 — — — — — — 552 Total $ 86,368 $ 128,641 $ 35,492 $ 667 $ — $ — $ — $ — $ 251,168 Current period gross charge-offs $ — $ 126 $ — $ — $ — $ — $ — $ — $ 126 Consumer loans Pass $ 3,427 $ 13,950 $ 6,205 $ 8,687 $ 1,747 $ 21 $ 8,354 $ 28 $ 42,419 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 3,427 $ 13,950 $ 6,205 $ 8,687 $ 1,747 $ 21 $ 8,354 $ 28 $ 42,419 Current period gross charge-offs $ — $ 3 $ — $ 66 $ — $ — $ 52 $ — $ 121 Overdrafts Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Classified 253 — — — — — — — 253 Total $ 253 $ — $ — $ — $ — $ — $ — $ — $ 253 Current period gross charge-offs $ 182 $ — $ — $ — $ — $ — $ — $ — $ 182 Other loans Pass $ 69 $ 10,176 $ — $ — $ — $ 2,587 $ 55 $ 8 $ 12,895 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 69 $ 10,176 $ — $ — $ — $ 2,587 $ 55 $ 8 $ 12,895 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total by Risk Category Pass $ 313,375 $ 418,126 $ 221,252 $ 154,911 $ 44,891 $ 138,304 $ 110,543 $ 12,258 $ 1,413,660 Special Mention 1,749 11,011 3,749 8,398 3,544 4,428 269 344 33,492 Classified 620 185 2,052 3,001 — 2,094 24 31 8,007 Total $ 315,744 $ 429,322 $ 227,053 $ 166,310 $ 48,435 $ 144,826 $ 110,836 $ 12,633 $ 1,455,159 Total current period gross charge-offs $ 413 $ 210 $ — $ 66 $ — $ — $ 52 $ — $ 741 |
Restructurings for Borrowers Ex
Restructurings for Borrowers Experiencing Financial Difficulty | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Restructurings for Borrowers Experiencing Financial Difficulty | NOTE 6. Restructurings for Borrowers Experiencing Financial Difficulty There were no loans modified during the three months ended March 31, 2024. The following table presents the amortized cost of loans that were modified during the three months ended March 31, 2023 by loan portfolio segment: 2023 (Dollars in thousands) Term Extension Total % of Total Class of Loans Mortgage real estate loans: Residential First Lien - Owner Occupied $ 355 $ 355 0.27 % Total $ 355 $ 355 None of the loans that were modified defaulted during the three months ended March 31, 2023 and the loans remain current with contractual payments as of March 31, 2024. The financial effects of the term extensions during the prior-year period added a weighted average of 1.0 years to the life of loans which reduced the payment amounts for the borrowers. 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 | 3 Months Ended |
Mar. 31, 2024 | |
Deposits [Abstract] | |
Deposits | N OTE 7. Deposits The composition of deposits at March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 December 31, 2023 (in thousands) Noninterest bearing demand deposits $ 424,869 $ 436,619 Savings and interest bearing demand deposits: NOW accounts $ 263,579 $ 253,353 Money market accounts 263,791 263,633 Regular savings accounts 139,360 139,453 $ 666,730 $ 656,439 Time deposits: Balances of less than $250,000 $ 243,226 $ 257,418 Balances of $250,000 and more 139,117 155,846 $ 382,343 $ 413,264 $ 1,473,942 $ 1,506,322 |
Leases
Leases | 3 Months Ended |
Mar. 31, 2024 | |
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) March 31, 2024 December 31, 2023 Lease liabilities $ 4,588 $ 4,653 Right-of-use assets $ 4,291 $ 4,387 Weighted average remaining lease term 13 years 14 years Weighted average discount rate 3.11 % 3.09 % Three Months Ended Lease Cost March 31, 2024 March 31, 2023 Operating lease cost $ 132 $ 132 Short-term lease cost 4 4 Total lease cost $ 136 $ 136 Cash paid for amounts included in the measurement of lease liabilities $ 118 $ 117 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 March 31, 2024 Twelve months ending March 31, 2025 $ 481 Twelve months ending March 31, 2026 484 Twelve months ending March 31, 2027 393 Twelve months ending March 31, 2028 392 Twelve months ending March 31, 2029 397 Thereafter 3,654 Total undiscounted cash flows $ 5,801 Discount ( 1,213 ) Lease liabilities $ 4,588 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 and December 31, 2023: Fair Value Measurements at March 31, 2024 Using Balance as of Quoted Prices Significant Significant March 31, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 8,221 $ — $ 8,221 $ — Mortgage-backed securities 113,731 — 113,731 — Obligations of states and political subdivisions 5,831 — 5,831 — Subordinated debt 4,084 — 4,084 — Derivative: Interest rate swaps 1,513 — 1,513 — Total assets at fair value $ 133,380 $ — $ 133,380 $ — Liabilities: Interest rate swaps $ 1,513 $ — $ 1,513 $ — Total liabilities at fair value $ 1,513 $ — $ 1,513 $ — Fair Value Measurements at December 31, 2023 Using Balance as of Quoted Prices Significant Significant December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 8,591 $ — $ 8,591 $ — Mortgage-backed securities 118,822 — 118,822 — Obligations of states and political subdivisions 5,931 — 5,931 — Subordinated debt 4,099 — 4,099 — Derivative: Interest rate swap 1,465 — 1,465 — Total assets at fair value $ 138,908 $ — $ 138,908 $ — Liabilities: Interest rate swap 1,465 — 1,465 — Total liabilities at fair value $ 1,465 $ — $ 1,465 $ — 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 months ended March 31, 2024 and the year ended December 31, 2023. 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 March 31, 2024 or December 31, 2023. 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 credit 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 March 31, 2024 or December 31, 2023. Repossessed Assets: Assets acquired through, or in lieu of, loan foreclosure are held for sale and are initially recorded at the fair value of the asset, 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 credit losses. Costs of significant improvements are capitalized, whereas costs relating to holding assets are expensed. 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 an asset to fair value less cost to sell. The fair value measurement of repossessed assets 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 $ 415 thousand and $ 304 thousand at March 31, 2024 and December 31, 2023. The following table displays quantitative information about Level 3 Fair Value Measurements for certain financial assets measured at fair value on a nonrecurring basis for March 31, 2024 and December 31, 2023. Quantitative information about Level 3 Fair Value Measurements March 31, 2024 Valuation Technique(s) Unobservable Input Range Weighted Average (1) Assets: Repossessed assets Discounted appraised value Selling cost 4 % - 10 % 8 % Quantitative information about Level 3 Fair Value Measurements December 31, 2023 Valuation Technique(s) Unobservable Input Range Weighted Average (1) Assets: Repossessed assets Discounted appraised value Selling cost 10 % 10 % (1) Weighted based on the relative fair value of the specific items measured at fair value. The following table summarizes the Company's nonfinancial assets that were measured at fair value on a nonrecurring basis at March 31, 2024 and December 31, 2023. Carrying value at March 31, 2024 Balance as of Identical Observable Unobservable March 31, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Nonfinancial Assets: Repossessed assets 415 — — 415 Carrying value at December 31, 2023 Balance as of Quoted Prices Significant Significant December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Nonfinancial Assets: Repossessed assets $ 304 $ — $ — $ 304 The carrying value and fair value of the Company’s financial instruments at March 31, 2024 and December 31, 2023 were as follows: Fair Value Measurements at March 31, 2024 Using Carrying Quoted Prices Significant Significant Fair Value March 31, 2024 (Level 1) (Level 2) (Level 3) March 31, 2024 (in thousands) Financial assets: Cash and short-term investments $ 127,633 $ 127,633 $ — $ — $ 127,633 Securities 131,867 — 131,867 — 131,867 Restricted investments 9,239 — 9,239 — 9,239 Loans held for sale 1,593 1,593 — 1,593 Loans, net 1,424,604 — — 1,340,172 1,340,172 Bank owned life insurance 29,843 — 29,843 — 29,843 Accrued interest receivable 5,137 — 5,137 — 5,137 Interest rate swaps 1,513 — 1,513 — 1,513 Financial liabilities: Deposits $ 1,473,942 $ — $ 1,473,772 $ — $ 1,473,772 Federal funds purchased 347 — 347 — 347 Federal Home Loan Bank advances, short-term 10,000 — 9,977 — 9,977 Federal Home Loan Bank advances, long-term 145,000 — 145,145 — 145,145 Subordinated debt, net of unamortized issuance costs 29,461 — 25,122 — 25,122 Accrued interest payable 1,912 — 1,912 — 1,912 Interest rate swaps 1,513 — 1,513 — 1,513 Fair Value Measurements at December 31, 2023 Using Carrying Value Quoted Prices Significant Significant Fair Value December 31, 2023 (Level 1) (Level 2) (Level 3) December 31, 2023 (in thousands) Financial assets: Cash and short-term investments $ 138,353 $ 138,353 $ — $ — $ 138,353 Securities 137,443 — 137,443 — 137,443 Restricted Investments 9,568 — 9,568 — 9,568 Loans held for sale 1,661 1,661 — 1,661 Loans, net 1,448,193 — — 1,377,017 1,377,017 Bank owned life insurance 29,575 — 29,575 — 29,575 Accrued interest receivable 5,008 — 5,008 — 5,008 Interest rate swap 1,465 — 1,465 — 1,465 Financial liabilities: Deposits $ 1,506,322 $ — $ 1,506,147 $ — $ 1,506,147 Federal Home Loan Bank advances, short-term 20,000 — 19,954 — 19,954 Federal Home Loan Bank advances, long-term 145,000 — 145,141 — 145,141 Subordinated debt, net of unamortized issuance costs 29,444 — 25,581 — 25,581 Accrued interest payable 2,364 — 2,364 — 2,364 Interest rate swap 1,465 — 1,465 — 1,465 |
Change in Accumulated Other Com
Change in Accumulated Other Comprehensive Income (Loss) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Unrealized Change in Total Unrealized Change in Total (dollars in thousands) (dollars in thousands) January 1 $ ( 18,020 ) $ 14 $ ( 18,006 ) $ ( 20,465 ) $ 19 $ ( 20,446 ) Other comprehensive (loss) income before reclassifications ( 2,287 ) ( 4 ) ( 2,291 ) 3,772 ( 8 ) 3,764 Reclassifications — ( 1 ) ( 1 ) — — — Tax effect of current period changes 480 1 481 ( 792 ) 3 ( 789 ) Current period changes net of taxes ( 1,807 ) ( 4 ) ( 1,811 ) 2,980 ( 5 ) 2,975 March 31 $ ( 19,827 ) $ 10 $ ( 19,817 ) $ ( 17,485 ) $ 14 $ ( 17,471 ) For the three months ended March 31, 2024 reclassifications out of accumulated other comprehensive income (loss) totaled $ 1 thousand and were recognized as a component of post retirement benefit cost in noninterest expenses of the Consolidated Statements of Income. Tax related to the reclassification was $ 1 thousand . |
Other Real Estate Owned
Other Real Estate Owned | 3 Months Ended |
Mar. 31, 2024 | |
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 three months ended March 31, 2024 and 2023 and the year ended December 31, 2023: Three Months Ended Year Ended Three Months Ended March 31, December 31, March 31, 2024 2023 2023 (in thousands) Balance, beginning $ — $ 108 $ 108 Transfer from loans — — — Gain on foreclosures — — — Sales — ( 108 ) ( 108 ) Valuation adjustments — — — Balance, ending $ — $ — $ — There were no loans collateralized by residential real estate in the process of foreclosure at March 31, 2024 and December 31, 2023 . |
Qualified Affordable Housing Pr
Qualified Affordable Housing Project Investments (Notes) | 3 Months Ended |
Mar. 31, 2024 | |
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. On January 1, 2024, the Company adopted ASU 2023-02, “Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." The adoption resulted in an adjustment of $ 477 thousand, which reduced the investment balance and shareholders' equity. At March 31, 2024 and December 31, 2023 , the balance of the investment for qualified affordable housing projects was $ 1.5 million and $ 2.0 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 March 31, 2024 and December 31, 2023. During each of the three months ended March 31, 2024 and March 31, 2023 , the Company recognized amortization expense of $ 74 thousand and $ 104 thousand, respectively. Beginning in 2024, upon adoption of ASU 2023-02, the amortization expense was included in income tax expense, while in 2023 and prior it was included in Other operating expenses on the Consolidated Statements of Income. Total estimated credits to be received during 2024 are $ 306 thousand based on the most recent quarterly estimates received from the funds. Total tax credits and other tax benefits recognized during the three months ended March 31, 2024 and 2023, were $ 77 thousand and $ 90 thousand, respectively . |
Recent Accounting Pronouncement
Recent Accounting Pronouncements and Other Authoritative Guidance | 3 Months Ended |
Mar. 31, 2024 | |
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 Pending Adoption In March 2024, the Financial Accounting Standards Board ("FASB") issued ASU 2024-02, “Codification Improvements – Amendments to Remove References to the Concepts Statements”. This ASU contains amendments to the Codification that remove references to various Concepts Statements. In most instances, the references are extraneous and not required to understand or apply the guidance. In other instances, the references were used in prior Statements to provide guidance in certain topical areas. This ASU is effective for fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied prospectively to all new transactions recognized on or after the date that the entity first applies the amendments or retrospectively to the beginning of the earliest comparative period presented in which the amendments were first applied. If an entity adopts the amendments retrospectively, it should adjust the opening balance of retained earnings as of the beginning of the earliest comparative period presented. The Company does not expect the adoption of ASU 2024-02 to have a material impact on our consolidated financial statements. In March 2024, the FASB issued ASU 2024-01, “Compensation – Stock Compensation (Topic 718): Scope Application of Profits Interest and Similar Awards”. This ASU provides an illustrative example intended to demonstrate how entities that account for profits interest and similar awards would determine whether a profits interest award should be accounted for in accordance with Topic 718. This ASU is effective for annual periods beginning after December 15, 2024, and interim periods within those annual periods. Early adoption is permitted. If an entity adopts the amendments in an interim period, it must adopt them as of the beginning of the annual period that includes that interim period. Transition can be done either retrospectively or prospectively. The Company does not expect the adoption of ASU 2024-01 to have a material impact on our consolidated financial statements. In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740), Improvements to Income Tax Disclosures." The amendments in this ASU require an entity to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold, which is greater than five percent of the amount computed by multiplying pretax income by the entity's applicable statutory rate, on an annual basis. Additionally, the amendments in this ASU require an entity to disclose the amount of income taxes paid (net of refunds received) disaggregated by federal, state, and foreign taxes and the amount of income taxes paid (net of refunds received) disaggregated by individual jurisdictions that are equal to or greater than five percent of total income taxes paid (net of refunds received). Lastly, the amendments in this ASU require an entity to disclose income (or loss) from continuing operations before income tax expense (or benefit) disaggregated between domestic and foreign and income tax expense (or benefit) from continuing operations disaggregated by federal, state, and foreign. This ASU is effective for annual periods beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied on a prospective basis; however, retrospective application is permitted. The Company does not expect the adoption of ASU 2023-09 to have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures.” The amendments in this ASU are intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. This ASU requires disclosure of significant segment expenses that are regularly provided to the chief operating decision marker ("CODM"), an amount for other segment items by reportable segment and a description of its composition, all annual disclosures required by FASB ASU Topic 280 in interim periods as well, and the title and position of the CODM and how the CODM uses the reported measures. Additionally, this ASU requires that at least one of the reported segment profit and loss measures should be the measure that is most consistent with the measurement principles used in an entity’s consolidated financial statements. Lastly, this ASU requires public business entities with a single reportable segment to provide all disclosures required by these amendments in this ASU and all existing segment disclosures in Topic 280. This ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The amendments should be applied retrospectively. The Company does not expect the adoption of ASU 2023-07 to have a material impact on its consolidated financial statements. Recently Adopted In March 2023, 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. ASU 2023-02 was effective for the Company on January 1, 2024. The adjustment recorded at adoption consisted of a decrease to other assets and shareholders' equity of $ 477 thousand. In addition, during 2024 and forward, the amortization will be posted to income taxes instead of non-interest expense. |
Borrowings
Borrowings | 3 Months Ended |
Mar. 31, 2024 | |
Debt Disclosure [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 uses 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 $ 539 thousand at March 31, 2024. The Company had $ 155.0 million in total borrowings with the FHLB at March 31, 2024 , with $ 10.0 million 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 . At December 31, 2023 , the Company had $ 145.0 million in long-term and $ 20.0 million in short-term outstanding borrowings with the FHLB. The Company had $ 115.6 million in irrevocable letters of credit at March 31, 2024 with the FHLB to secure public deposits. |
Derivatives
Derivatives | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 and December 31, 2023. March 31, 2024 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 40,815 $ 1,234 $ 279 Matched interest rate swaps with counterparty 40,815 279 1,234 December 31, 2023 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 41,051 $ 844 $ 621 Matched interest rate swaps with counterparty 41,051 621 844 |
Business Segments
Business Segments | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Business Segments | NOTE 16. Business Segments The Company has three reportable operating segments: community banking, marine lending and wealth management. 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. 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. 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 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 $ 435 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 ended December 31, 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 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 following table provides income and asset information as of March 31, 2024 and December 31, 2023 and for the three months ended March 31, 2024 and March 31, 2023, 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. 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 March 31, 2024 Community Banking Marine Lending Wealth Management All Other Eliminations Consolidated (in thousands) Interest Income $ 18,450 $ 3,462 $ — $ — $ — $ 21,912 Interest Expense 7,694 1,440 — 354 — 9,488 Net Interest Income (Expense) 10,756 2,022 — ( 354 ) — 12,424 Gain on sales of loans 161 — — — — 161 Other noninterest income 1,932 — 1,378 — — 3,310 Net Revenue 12,849 2,022 1,378 ( 354 ) — 15,895 Provision for credit losses 86 389 — — — 475 Noninterest expense 11,317 218 729 113 — 12,377 Income before taxes 1,446 1,415 649 ( 467 ) — 3,043 Income tax expense 145 297 136 ( 83 ) — 495 Net Income $ 1,301 $ 1,118 $ 513 $ ( 384 ) $ — $ 2,548 Other data: Capital expenditures $ 91 $ — $ 3 $ — $ — $ 94 Depreciation and amortization 338 — 32 17 — 387 Three Months Ended March 31, 2023 Community Banking Marine Lending Wealth Management All Other Eliminations Consolidated (in thousands) Interest Income $ 15,241 $ 3,317 $ — $ — $ — $ 18,558 Interest Expense 4,367 1,193 — 354 — 5,914 Net Interest Income (Expense) 10,874 2,124 — ( 354 ) — 12,644 Gain on sales of loans 214 242 — — — 456 Other noninterest income 1,862 50 1,158 — — 3,070 Net Revenue 12,950 2,416 1,158 ( 354 ) — 16,170 Provision for credit losses 506 158 — — — 664 Noninterest expense 10,360 1,282 603 141 — 12,386 Income before taxes 2,084 976 555 ( 495 ) — 3,120 Income tax expense 327 205 117 ( 114 ) — 535 Net Income $ 1,757 $ 771 $ 438 $ ( 381 ) $ — $ 2,585 Other data: Capital expenditures $ ( 10 ) $ 17 $ — $ — $ — $ 7 Depreciation and amortization 420 95 31 17 — 563 Community Banking Marine Lending Wealth Management All Other Eliminations Consolidated Total assets at March 31, 2024 $ 1,526,973 $ 253,912 $ 1,051 $ 965 $ — $ 1,782,901 Total assets at December 31, 2023 $ 1,562,600 $ 261,011 $ 1,080 $ 906 $ — $ 1,825,597 |
Stock-Based Compensation Plan (
Stock-Based Compensation Plan (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | |
Restricted Stock Activity | The following table presents restricted stock activity for the three months ended March 31, 2024 and 2023: Three Months Ended March 31, 2024 2023 Shares Weighted Shares Weighted Nonvested, beginning of period 56,914 $ 35.06 38,780 $ 33.47 Granted 41,940 30.00 36,378 36.80 Vested ( 23,557 ) 34.22 ( 12,749 ) 32.33 Forfeited — — — — Nonvested, end of period 75,297 $ 32.45 62,409 $ 35.64 |
Earnings Per Common Share (Tabl
Earnings Per Common Share (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 months ended March 31, 2024 and 2023. During 2024 and 2023 , there were no potentially dilutive securities outstanding. Three Months Ended March 31, 2024 2023 Average number of common shares outstanding used to calculate basic and diluted earnings per share 3,557,203 3,522,431 |
Securities (Tables)
Securities (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 and December 31, 2023 were as follows: Amortized Gross Gross Fair Value March 31, 2024 (in thousands) Obligations of U.S. government corporations and agencies $ 8,960 $ — $ ( 739 ) $ 8,221 Mortgage-backed securities 137,061 — ( 23,330 ) 113,731 Obligations of states and political subdivisions 6,191 — ( 360 ) 5,831 Subordinated debt 4,750 — ( 666 ) 4,084 $ 156,962 $ — $ ( 25,095 ) $ 131,867 December 31, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ 9,258 $ — $ ( 667 ) $ 8,591 Mortgage-backed securities 140,052 — ( 21,230 ) 118,822 Obligations of states and political subdivisions 6,191 1 ( 261 ) 5,931 Subordinated debt 4,750 — ( 651 ) 4,099 $ 160,251 $ 1 $ ( 22,809 ) $ 137,443 |
Investments Classified by Contractual Maturity Date | The amortized cost and estimated fair value of securities at March 31, 2024 , by the earlier of contractual maturity or expected maturity, are shown below. The Company has elected to exclude accrued interest receivable, totaling $ 380 thousand at March 31, 2024, 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 $ 1,269 $ 1,263 Due after one year through five years 7,446 7,033 Due after five years through ten years 17,473 15,512 Due after ten years 130,774 108,059 $ 156,962 $ 131,867 |
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 March 31, 2024 and December 31, 2023 were as follows: Less than 12 months 12 months or more Total Fair Value Gross Fair Value Gross Fair Value Gross March 31, 2024 (in thousands) Obligations of U.S. government corporations and agencies $ — $ — $ 8,221 $ 739 $ 8,221 $ 739 Mortgage-backed securities — — 113,731 23,330 113,731 23,330 Obligations of states and political subdivisions 496 4 5,335 356 5,831 360 Subordinated debt — — 3,584 666 3,584 666 $ 496 $ 4 $ 130,871 $ 25,091 $ 131,367 $ 25,095 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, 2023 (in thousands) Obligations of U.S. government corporations and agencies $ — $ — $ 8,591 $ 667 $ 8,591 $ 667 Mortgage-backed securities — — 118,822 21,230 118,822 21,230 Obligations of states and political subdivisions — — 5,430 261 5,430 261 Subordinated debt 221 29 3,378 622 3,599 651 $ 221 $ 29 $ 136,221 $ 22,780 $ 136,442 $ 22,809 |
Schedule Composition of Restricted Investments | The composition of restricted investments at March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 December 31, 2023 (in thousands) Federal Reserve Bank Stock $ 344 $ 344 Federal Home Loan Bank Stock 8,755 9,084 Community Bankers’ Bank Stock 140 140 $ 9,239 $ 9,568 |
Loans and Allowance for Loan _2
Loans and Allowance for Loan Losses (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Schedule of composition of loans | The composition of loans at March 31, 2024 and December 31, 2023 was as follows: March 31, December 31, 2024 2023 (in thousands) Mortgage real estate loans: Construction & Secured by Farmland $ 82,692 $ 84,145 HELOCs 46,329 47,674 Residential First Lien - Investor 113,813 117,431 Residential First Lien - Owner Occupied 181,323 178,180 Residential Junior Liens 12,690 12,831 Commercial - Owner Occupied 254,744 251,456 Commercial - Non-Owner Occupied & Multifamily 344,192 348,879 Commercial and industrial loans: SBA PPP loans 45 51 Other commercial and industrial loans 100,067 107,777 Marine loans 247,042 251,168 Consumer loans 34,529 42,419 Overdrafts 1,559 253 Other loans 12,466 12,895 Total loans $ 1,431,491 $ 1,455,159 Net deferred loan costs and premiums 7,561 7,527 Allowance for credit losses ( 14,448 ) ( 14,493 ) $ 1,424,604 $ 1,448,193 |
Schedule of changes in allowance for loan losses | Changes in the allowance for credit losses on loans for the three months ended March 31, 2024 and 2023, and the year ended December 31, 2023 were as follows: Three Months Ended Year Ended Three Months Ended March 31, December 31, March 31, 2024 2023 2023 (in thousands) Balance, beginning $ 14,493 $ 11,218 $ 11,218 Cumulative effect adjustment for adoption of ASC 326 — 2,077 2,077 Provision for credit losses 475 1,641 709 Recoveries added to the allowance 185 298 21 Credit losses charged to the allowance ( 705 ) ( 741 ) ( 75 ) Balance, ending $ 14,448 $ 14,493 $ 13,950 |
Schedule of nonaccrual And past due loans by class | Past due loans by class at March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 (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 $ — $ — $ — $ — $ 82,692 $ 82,692 $ — HELOCs — 19 — 19 46,310 46,329 — Residential First Lien - Investor 904 — — 904 112,909 113,813 — Residential First Lien - Owner Occupied 139 — 147 286 181,037 181,323 — Residential Junior Liens — — 9 9 12,681 12,690 — Commercial - Owner Occupied 7 — — 7 254,737 254,744 — Commercial - Non-Owner Occupied & Multifamily 295 — — 295 343,897 344,192 — Commercial and industrial loans: SBA PPP loans — — — — 45 45 — Other commercial and industrial loans — — 162 162 99,905 100,067 159 Marine loans 605 — 514 1,119 245,923 247,042 — Consumer loans 222 — 252 474 34,055 34,529 252 Overdrafts — — — — 1,559 1,559 — Other loans — — — — 12,466 12,466 — Total $ 2,172 $ 19 $ 1,084 $ 3,275 $ 1,428,216 $ 1,431,491 $ 411 December 31, 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 $ — $ — $ — $ — $ 84,145 $ 84,145 $ — HELOCs — — — — 47,674 47,674 — Residential First Lien - Investor 844 253 — 1,097 116,334 117,431 — Residential First Lien - Owner Occupied — 78 149 227 177,953 178,180 — Residential Junior Liens — — 9 9 12,822 12,831 — Commercial - Owner Occupied — — — — 251,456 251,456 — Commercial - Non-Owner Occupied & Multifamily — — — — 348,879 348,879 — Commercial and industrial loans: SBA PPP loans — — — — 51 51 — Other commercial and industrial loans 9 — 26 35 107,742 107,777 14 Marine loans — — 552 552 250,616 251,168 — Consumer loans 173 — 167 340 42,079 42,419 167 Overdrafts — — — — 253 253 — Other loans — — — — 12,895 12,895 — Total $ 1,026 $ 331 $ 903 $ 2,260 $ 1,452,899 $ 1,455,159 $ 181 Nonaccrual loans by class at March 31, 2024 and December 31, 2023 were as follows: March 31, 2024 December 31, 2023 (in thousands) (in thousands) Nonaccruals with No Allowance for Credit Losses Nonaccrual with an Allowance for Credit Losses Nonaccrual Nonaccruals with No Allowance for Credit Losses Nonaccrual with an Allowance for Credit Losses Nonaccrual Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ — $ 95 $ — $ 95 HELOCs — — — 15 — 15 Residential First Lien - Investor 1,063 — 1,063 1,085 — 1,085 Residential First Lien - Owner Occupied 224 — 224 228 — 228 Residential Junior Liens 9 — 9 11 — 11 Commercial - Owner Occupied 7 — 7 22 — 22 Commercial - Non-Owner Occupied & Multifamily 2,336 — 2,336 3,625 — 3,625 Commercial and industrial loans: SBA PPP loans — — — — — — Other commercial and industrial loans 3 — 3 12 — 12 Marine loans 514 — 514 552 — 552 Consumer loans — — — — — — Overdrafts — — — — — — Other loans — — — — — — Total $ 4,156 $ — $ 4,156 $ 5,645 $ — $ 5,645 |
Schedule of allowance for credit losses on loans by segment | The allowance for credit losses on loans by segment at March 31, 2024 and December 31, 2023 was as follows: As of and For the Three Months Ended March 31, 2024 (in thousands) Construction Residential Commercial Commercial Marine Consumer All Other Unallocated Total Allowance for credit losses: Beginning Balance $ 772 $ 4,725 $ 6,224 $ 1,027 $ 1,153 $ 198 $ 394 $ — $ 14,493 Charge-Offs ( 94 ) ( 15 ) — ( 74 ) ( 453 ) ( 38 ) ( 31 ) — ( 705 ) Recoveries 2 6 155 14 — 5 3 — 185 Provision 197 ( 95 ) ( 473 ) 24 841 ( 32 ) ( 85 ) 98 475 Ending balance $ 877 $ 4,621 $ 5,906 $ 991 $ 1,541 $ 133 $ 281 $ 98 $ 14,448 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment $ 877 $ 4,621 $ 5,906 $ 991 $ 1,541 $ 133 $ 281 $ 98 $ 14,448 Loans: Ending balance $ 82,692 $ 354,155 $ 598,936 $ 100,112 $ 247,042 $ 34,529 $ 14,025 $ — $ 1,431,491 Ending balance: Individually evaluated for impairment $ — $ 1,263 $ 2,336 $ — $ 514 $ — $ — $ — $ 4,113 Ending balance: Collectively evaluated for impairment $ 82,692 $ 352,892 $ 596,600 $ 100,112 $ 246,528 $ 34,529 $ 14,025 $ — $ 1,427,378 As of and For the Year Ended December 31, 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 — — — ( 312 ) ( 126 ) ( 121 ) ( 182 ) — ( 741 ) Recoveries 8 18 — 43 — 48 181 — 298 Provision ( 110 ) 1,039 419 176 9 95 13 — 1,641 Ending balance $ 772 $ 4,725 $ 6,224 $ 1,027 $ 1,153 $ 198 $ 394 $ — $ 14,493 Ending balance: Individually evaluated for impairment $ — $ — $ — $ — $ — $ — $ — $ — $ — Ending balance: Collectively evaluated for impairment $ 772 $ 4,725 $ 6,224 $ 1,027 $ 1,153 $ 198 $ 394 $ — $ 14,493 Loans: Ending balance $ 84,145 $ 356,116 $ 600,335 $ 107,828 $ 251,168 $ 42,419 $ 13,148 $ — $ 1,455,159 Ending balance: Individually evaluated for impairment $ 95 $ 1,288 $ 3,639 $ — $ 552 $ — $ — $ — $ 5,574 Ending balance: Collectively evaluated for impairment $ 84,050 $ 354,828 $ 596,696 $ 107,828 $ 250,616 $ 42,419 $ 13,148 $ — $ 1,449,585 |
Schedule of 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: March 31, 2024 December 31, 2023 (in thousands) (in thousands) (in thousands) Real Estate Collateral Other Collateral Total Real Estate Collateral Other Collateral Total Mortgage real estate loans: Construction & Secured by Farmland $ — $ — $ — $ 95 $ — $ 95 HELOCs — — — — — — Residential First Lien - Investor 1,063 — 1,063 1,086 — 1,086 Residential First Lien - Owner Occupied 191 — 191 194 — 194 Residential Junior Liens 9 — 9 8 — 8 Commercial - Owner Occupied — — — 14 — 14 Commercial - Non-Owner Occupied & Multifamily 2,336 — 2,336 3,625 — 3,625 Commercial and industrial loans: SBA PPP loans — — — — — — Other commercial and industrial loans — — — — — — Marine loans — 514 514 — 552 552 Consumer loans — — — — — — Overdrafts — — — — — — Other loans — — — — — — $ 3,599 $ 514 $ 4,113 $ 5,022 $ 552 $ 5,574 |
Schedule of credit quality information by class | Credit quality information by class at March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 Term Loan Amortized Cost Basis by Origination Year (in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Mortgage real estate loans: Construction & Secured by Farmland Pass $ 3,581 $ 32,199 $ 20,332 $ 4,911 $ 4,797 $ 5,904 $ 3,225 $ — $ 74,949 Special Mention — 6,532 — — — 1,032 — — 7,564 Classified — — — — 143 36 — — 179 Total $ 3,581 $ 38,731 $ 20,332 $ 4,911 $ 4,940 $ 6,972 $ 3,225 $ — $ 82,692 Current period gross charge-offs $ — $ — $ — $ — $ — $ 94 $ — $ — $ 94 HELOCs Pass $ — $ — $ — $ — $ — $ — $ 46,280 $ — $ 46,280 Special Mention — — — — — — 49 — 49 Classified — — — — — — — — — Total $ — $ — $ — $ — $ — $ — $ 46,329 $ — $ 46,329 Current period gross charge-offs $ — $ — $ — $ — $ — $ 14 $ — $ — $ 14 Residential First Lien - Investor Pass $ 1,674 $ 18,785 $ 22,529 $ 30,136 $ 9,795 $ 24,715 $ — $ 1,146 $ 108,780 Special Mention — — 277 276 1,772 1,645 — — 3,970 Classified — — — 1,063 — — — — 1,063 Total $ 1,674 $ 18,785 $ 22,806 $ 31,475 $ 11,567 $ 26,360 $ — $ 1,146 $ 113,813 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential First Lien - Owner Occupied Pass $ 8,267 $ 55,504 $ 34,025 $ 23,561 $ 35,310 $ 23,404 $ — $ 556 $ 180,627 Special Mention — — — — — 47 — — 47 Classified — — — — — 649 — — 649 Total $ 8,267 $ 55,504 $ 34,025 $ 23,561 $ 35,310 $ 24,100 $ — $ 556 $ 181,323 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Residential Junior Liens Pass $ 242 $ 2,643 $ 2,836 $ 3,357 $ 1,460 $ 1,926 $ — $ 186 $ 12,650 Special Mention — — — — — — — — — Classified — — — — — 25 — 15 40 Total $ 242 $ 2,643 $ 2,836 $ 3,357 $ 1,460 $ 1,951 $ — $ 201 $ 12,690 Current period gross charge-offs $ — $ — $ — $ — $ — $ 1 $ — $ — $ 1 Commercial - Owner Occupied Pass $ 3,795 $ 35,991 $ 66,215 $ 35,461 $ 22,616 $ 62,550 $ 1,629 $ 4,226 $ 232,483 Special Mention — 558 10,193 4,397 2,129 3,525 — — 20,802 Classified — — — 958 494 7 — — 1,459 Total $ 3,795 $ 36,549 $ 76,408 $ 40,816 $ 25,239 $ 66,082 $ 1,629 $ 4,226 $ 254,744 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial - Non-Owner Occupied & Multifamily Pass $ 959 $ 41,292 $ 80,586 $ 65,003 $ 62,800 $ 47,580 $ 1,196 $ 5,561 $ 304,977 Special Mention — 15,671 10,807 3,659 6,741 — — — 36,878 Classified — — — — 2,337 — — — 2,337 Total $ 959 $ 56,963 $ 91,393 $ 68,662 $ 71,878 $ 47,580 $ 1,196 $ 5,561 $ 344,192 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Commercial and industrial loans: SBA PPP loans Pass $ — $ — $ — $ 45 $ — $ — $ — $ — $ 45 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ — $ — $ 45 $ — $ — $ — $ — $ 45 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Other commercial and industrial loans Pass $ 3,766 $ 12,803 $ 25,956 $ 8,154 $ 4,421 $ 6,268 $ 32,496 $ 1,042 $ 94,906 Special Mention — 2,969 — — — 44 1,829 316 5,158 Classified — — — — 3 — — — 3 Total $ 3,766 $ 15,772 $ 25,956 $ 8,154 $ 4,424 $ 6,312 $ 34,325 $ 1,358 $ 100,067 Current period gross charge-offs $ — $ 11 $ 9 $ — $ 54 $ — $ — $ — $ 74 Marine loans Pass $ — $ 84,210 $ 126,544 $ 35,114 $ 660 $ — $ — $ — $ 246,528 Special Mention — — — — — — — — — Classified — 514 — — — — — — 514 Total $ — $ 84,724 $ 126,544 $ 35,114 $ 660 $ — $ — $ — $ 247,042 Current period gross charge-offs $ — $ 366 $ 87 $ — $ — $ — $ — $ — $ 453 Consumer loans Pass $ 699 $ 2,993 $ 13,411 $ 5,966 $ 8,448 $ 1,692 $ 1,279 $ 41 $ 34,529 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ 699 $ 2,993 $ 13,411 $ 5,966 $ 8,448 $ 1,692 $ 1,279 $ 41 $ 34,529 Current period gross charge-offs $ 28 $ 10 $ — $ — $ — $ — $ — $ — $ 38 Overdrafts Pass $ — $ — $ — $ — $ — $ — $ — $ — $ — Special Mention — — — — — — — — — Classified 1,559 — — — — — — — 1,559 Total $ 1,559 $ — $ — $ — $ — $ — $ — $ — $ 1,559 Current period gross charge-offs $ 31 $ — $ — $ — $ — $ — $ — $ — $ 31 Other loans Pass $ — $ 65 $ 9,927 $ — $ — $ 2,409 $ 59 $ 6 $ 12,466 Special Mention — — — — — — — — — Classified — — — — — — — — — Total $ — $ 65 $ 9,927 $ — $ — $ 2,409 $ 59 $ 6 $ 12,466 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Total by Risk Category Pass $ 22,983 $ 286,485 $ 402,361 $ 211,708 $ 150,307 $ 176,448 $ 86,164 $ 12,764 $ 1,349,220 Special Mention — 25,730 21,277 8,332 10,642 6,293 1,878 316 74,468 Classified 1,559 514 — 2,021 2,977 717 — 15 7,803 Total $ 24,542 $ 312,729 $ 423,638 $ 222,061 $ 163,926 $ 183,458 $ 88,042 $ 13,095 $ 1,431,491 Total current period gross charge-offs $ 59 $ 387 $ 96 $ — $ 54 $ 109 $ — $ — $ 705 |
Restructurings for Borrowers _2
Restructurings for Borrowers Experiencing Financial Difficulty (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Receivables [Abstract] | |
Modified amortized cost of loans | There were no loans modified during the three months ended March 31, 2024. The following table presents the amortized cost of loans that were modified during the three months ended March 31, 2023 by loan portfolio segment: 2023 (Dollars in thousands) Term Extension Total % of Total Class of Loans Mortgage real estate loans: Residential First Lien - Owner Occupied $ 355 $ 355 0.27 % Total $ 355 $ 355 |
Deposits (Tables)
Deposits (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Deposits [Abstract] | |
Composition of Deposits | The composition of deposits at March 31, 2024 and December 31, 2023 was as follows: March 31, 2024 December 31, 2023 (in thousands) Noninterest bearing demand deposits $ 424,869 $ 436,619 Savings and interest bearing demand deposits: NOW accounts $ 263,579 $ 253,353 Money market accounts 263,791 263,633 Regular savings accounts 139,360 139,453 $ 666,730 $ 656,439 Time deposits: Balances of less than $250,000 $ 243,226 $ 257,418 Balances of $250,000 and more 139,117 155,846 $ 382,343 $ 413,264 $ 1,473,942 $ 1,506,322 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Leases [Abstract] | |
Assets And Liabilities, Lessee | The following tables present information about the Company’s leases: (dollars in thousands) March 31, 2024 December 31, 2023 Lease liabilities $ 4,588 $ 4,653 Right-of-use assets $ 4,291 $ 4,387 Weighted average remaining lease term 13 years 14 years Weighted average discount rate 3.11 % 3.09 % Three Months Ended Lease Cost March 31, 2024 March 31, 2023 Operating lease cost $ 132 $ 132 Short-term lease cost 4 4 Total lease cost $ 136 $ 136 Cash paid for amounts included in the measurement of lease liabilities $ 118 $ 117 |
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 March 31, 2024 Twelve months ending March 31, 2025 $ 481 Twelve months ending March 31, 2026 484 Twelve months ending March 31, 2027 393 Twelve months ending March 31, 2028 392 Twelve months ending March 31, 2029 397 Thereafter 3,654 Total undiscounted cash flows $ 5,801 Discount ( 1,213 ) Lease liabilities $ 4,588 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 and December 31, 2023: Fair Value Measurements at March 31, 2024 Using Balance as of Quoted Prices Significant Significant March 31, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 8,221 $ — $ 8,221 $ — Mortgage-backed securities 113,731 — 113,731 — Obligations of states and political subdivisions 5,831 — 5,831 — Subordinated debt 4,084 — 4,084 — Derivative: Interest rate swaps 1,513 — 1,513 — Total assets at fair value $ 133,380 $ — $ 133,380 $ — Liabilities: Interest rate swaps $ 1,513 $ — $ 1,513 $ — Total liabilities at fair value $ 1,513 $ — $ 1,513 $ — Fair Value Measurements at December 31, 2023 Using Balance as of Quoted Prices Significant Significant December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Assets: Securities available for sale Obligations of U.S. government corporations and agencies $ 8,591 $ — $ 8,591 $ — Mortgage-backed securities 118,822 — 118,822 — Obligations of states and political subdivisions 5,931 — 5,931 — Subordinated debt 4,099 — 4,099 — Derivative: Interest rate swap 1,465 — 1,465 — Total assets at fair value $ 138,908 $ — $ 138,908 $ — Liabilities: Interest rate swap 1,465 — 1,465 — Total liabilities at fair value $ 1,465 $ — $ 1,465 $ — |
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 financial assets measured at fair value on a nonrecurring basis for March 31, 2024 and December 31, 2023. Quantitative information about Level 3 Fair Value Measurements March 31, 2024 Valuation Technique(s) Unobservable Input Range Weighted Average (1) Assets: Repossessed assets Discounted appraised value Selling cost 4 % - 10 % 8 % Quantitative information about Level 3 Fair Value Measurements December 31, 2023 Valuation Technique(s) Unobservable Input Range Weighted Average (1) Assets: Repossessed assets Discounted appraised value Selling cost 10 % 10 % (1) Weighted based on the relative fair value of the specific items measured at fair value. |
Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis | The following table summarizes the Company's nonfinancial assets that were measured at fair value on a nonrecurring basis at March 31, 2024 and December 31, 2023. Carrying value at March 31, 2024 Balance as of Identical Observable Unobservable March 31, 2024 (Level 1) (Level 2) (Level 3) (in thousands) Nonfinancial Assets: Repossessed assets 415 — — 415 Carrying value at December 31, 2023 Balance as of Quoted Prices Significant Significant December 31, 2023 (Level 1) (Level 2) (Level 3) (in thousands) Nonfinancial Assets: Repossessed assets $ 304 $ — $ — $ 304 |
Company's Financial Instruments | The carrying value and fair value of the Company’s financial instruments at March 31, 2024 and December 31, 2023 were as follows: Fair Value Measurements at March 31, 2024 Using Carrying Quoted Prices Significant Significant Fair Value March 31, 2024 (Level 1) (Level 2) (Level 3) March 31, 2024 (in thousands) Financial assets: Cash and short-term investments $ 127,633 $ 127,633 $ — $ — $ 127,633 Securities 131,867 — 131,867 — 131,867 Restricted investments 9,239 — 9,239 — 9,239 Loans held for sale 1,593 1,593 — 1,593 Loans, net 1,424,604 — — 1,340,172 1,340,172 Bank owned life insurance 29,843 — 29,843 — 29,843 Accrued interest receivable 5,137 — 5,137 — 5,137 Interest rate swaps 1,513 — 1,513 — 1,513 Financial liabilities: Deposits $ 1,473,942 $ — $ 1,473,772 $ — $ 1,473,772 Federal funds purchased 347 — 347 — 347 Federal Home Loan Bank advances, short-term 10,000 — 9,977 — 9,977 Federal Home Loan Bank advances, long-term 145,000 — 145,145 — 145,145 Subordinated debt, net of unamortized issuance costs 29,461 — 25,122 — 25,122 Accrued interest payable 1,912 — 1,912 — 1,912 Interest rate swaps 1,513 — 1,513 — 1,513 Fair Value Measurements at December 31, 2023 Using Carrying Value Quoted Prices Significant Significant Fair Value December 31, 2023 (Level 1) (Level 2) (Level 3) December 31, 2023 (in thousands) Financial assets: Cash and short-term investments $ 138,353 $ 138,353 $ — $ — $ 138,353 Securities 137,443 — 137,443 — 137,443 Restricted Investments 9,568 — 9,568 — 9,568 Loans held for sale 1,661 1,661 — 1,661 Loans, net 1,448,193 — — 1,377,017 1,377,017 Bank owned life insurance 29,575 — 29,575 — 29,575 Accrued interest receivable 5,008 — 5,008 — 5,008 Interest rate swap 1,465 — 1,465 — 1,465 Financial liabilities: Deposits $ 1,506,322 $ — $ 1,506,147 $ — $ 1,506,147 Federal Home Loan Bank advances, short-term 20,000 — 19,954 — 19,954 Federal Home Loan Bank advances, long-term 145,000 — 145,141 — 145,141 Subordinated debt, net of unamortized issuance costs 29,444 — 25,581 — 25,581 Accrued interest payable 2,364 — 2,364 — 2,364 Interest rate swap 1,465 — 1,465 — 1,465 |
Change in Accumulated Other C_2
Change in Accumulated Other Comprehensive Income (Loss) (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 2023 Unrealized Change in Total Unrealized Change in Total (dollars in thousands) (dollars in thousands) January 1 $ ( 18,020 ) $ 14 $ ( 18,006 ) $ ( 20,465 ) $ 19 $ ( 20,446 ) Other comprehensive (loss) income before reclassifications ( 2,287 ) ( 4 ) ( 2,291 ) 3,772 ( 8 ) 3,764 Reclassifications — ( 1 ) ( 1 ) — — — Tax effect of current period changes 480 1 481 ( 792 ) 3 ( 789 ) Current period changes net of taxes ( 1,807 ) ( 4 ) ( 1,811 ) 2,980 ( 5 ) 2,975 March 31 $ ( 19,827 ) $ 10 $ ( 19,817 ) $ ( 17,485 ) $ 14 $ ( 17,471 ) |
Other Real Estate Owned (Tables
Other Real Estate Owned (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Real Estate [Abstract] | |
Other Real Estate Owned Rollforward | The following table is a summary of other real estate owned (“OREO”) activity for the three months ended March 31, 2024 and 2023 and the year ended December 31, 2023: Three Months Ended Year Ended Three Months Ended March 31, December 31, March 31, 2024 2023 2023 (in thousands) Balance, beginning $ — $ 108 $ 108 Transfer from loans — — — Gain on foreclosures — — — Sales — ( 108 ) ( 108 ) Valuation adjustments — — — Balance, ending $ — $ — $ — |
Derivatives (Tables)
Derivatives (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
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 March 31, 2024 and December 31, 2023. March 31, 2024 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 40,815 $ 1,234 $ 279 Matched interest rate swaps with counterparty 40,815 279 1,234 December 31, 2023 Notional Amount Assets Liabilities (in thousands) Customer-related interest rate swap contracts: Matched interest rate swaps with borrower $ 41,051 $ 844 $ 621 Matched interest rate swaps with counterparty 41,051 621 844 |
Business Segments (Tables)
Business Segments (Tables) | 3 Months Ended |
Mar. 31, 2024 | |
Segment Reporting [Abstract] | |
Schedule of reportable operating segments | The following table provides income and asset information as of March 31, 2024 and December 31, 2023 and for the three months ended March 31, 2024 and March 31, 2023, 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. 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 March 31, 2024 Community Banking Marine Lending Wealth Management All Other Eliminations Consolidated (in thousands) Interest Income $ 18,450 $ 3,462 $ — $ — $ — $ 21,912 Interest Expense 7,694 1,440 — 354 — 9,488 Net Interest Income (Expense) 10,756 2,022 — ( 354 ) — 12,424 Gain on sales of loans 161 — — — — 161 Other noninterest income 1,932 — 1,378 — — 3,310 Net Revenue 12,849 2,022 1,378 ( 354 ) — 15,895 Provision for credit losses 86 389 — — — 475 Noninterest expense 11,317 218 729 113 — 12,377 Income before taxes 1,446 1,415 649 ( 467 ) — 3,043 Income tax expense 145 297 136 ( 83 ) — 495 Net Income $ 1,301 $ 1,118 $ 513 $ ( 384 ) $ — $ 2,548 Other data: Capital expenditures $ 91 $ — $ 3 $ — $ — $ 94 Depreciation and amortization 338 — 32 17 — 387 Three Months Ended March 31, 2023 Community Banking Marine Lending Wealth Management All Other Eliminations Consolidated (in thousands) Interest Income $ 15,241 $ 3,317 $ — $ — $ — $ 18,558 Interest Expense 4,367 1,193 — 354 — 5,914 Net Interest Income (Expense) 10,874 2,124 — ( 354 ) — 12,644 Gain on sales of loans 214 242 — — — 456 Other noninterest income 1,862 50 1,158 — — 3,070 Net Revenue 12,950 2,416 1,158 ( 354 ) — 16,170 Provision for credit losses 506 158 — — — 664 Noninterest expense 10,360 1,282 603 141 — 12,386 Income before taxes 2,084 976 555 ( 495 ) — 3,120 Income tax expense 327 205 117 ( 114 ) — 535 Net Income $ 1,757 $ 771 $ 438 $ ( 381 ) $ — $ 2,585 Other data: Capital expenditures $ ( 10 ) $ 17 $ — $ — $ — $ 7 Depreciation and amortization 420 95 31 17 — 563 Community Banking Marine Lending Wealth Management All Other Eliminations Consolidated Total assets at March 31, 2024 $ 1,526,973 $ 253,912 $ 1,051 $ 965 $ — $ 1,782,901 Total assets at December 31, 2023 $ 1,562,600 $ 261,011 $ 1,080 $ 906 $ — $ 1,825,597 |
General (Additional Information
General (Additional Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 01, 2024 | Mar. 31, 2024 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Ownership percentage in subsidiaries | 100% | |
Cumulative Effect Period of Adoption, Adjustment | $ 477 | $ (477) |
Stock-Based Compensation (Narra
Stock-Based Compensation (Narrative) (Details) - USD ($) $ in Millions | 3 Months Ended | |
Mar. 31, 2024 | 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 | $ 1.4 | |
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 | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Share-Based Payment Arrangement, Noncash Expense [Abstract] | ||
Shares, Nonvested, beginning of period | 56,914 | 38,780 |
Shares, Granted | 41,940 | 36,378 |
Shares, Vested | (23,557) | (12,749) |
Shares, Forfeited | 0 | 0 |
Shares, Nonvested, end of period | 75,297 | 62,409 |
Weighted Average Grant Date Fair Value, Nonvested, beginning of period | $ 35.06 | $ 33.47 |
Weighted Average Grant Date Fair Value, Granted | 30 | 36.8 |
Weighted Average Grant Date Fair Value, Vested | 34.22 | 32.33 |
Weighted average Grant Date Fair Value, Forfeited | 0 | 0 |
Weighted Average Grant Date Fair Value, Nonvested, end of period | $ 32.45 | $ 35.64 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Earnings Per Share [Abstract] | ||
Potentially dilutive securities outstanding | 0 | 0 |
Average number of common shares outstanding used to calculate basic earnings per share | 3,557,203 | 3,522,431 |
Average number of common shares outstanding used to calculate diluted earnings per share | 3,557,203 | 3,522,431 |
Securities - (Amortized Costs a
Securities - (Amortized Costs and Fair Values of Securities Available for Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | $ 156,962 | $ 160,251 |
Gross Unrealized Gains | 0 | 1 |
Gross Unrealized (Losses) | (25,095) | (22,809) |
Securities | 131,867 | 137,443 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 8,960 | 9,258 |
Gross Unrealized (Losses) | (739) | (667) |
Securities | 8,221 | 8,591 |
Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 137,061 | 140,052 |
Gross Unrealized (Losses) | (23,330) | (21,230) |
Securities | 113,731 | 118,822 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 6,191 | 6,191 |
Gross Unrealized Gains | 1 | |
Gross Unrealized (Losses) | (360) | (261) |
Securities | 5,831 | 5,931 |
Subordinated Debt [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Amortized Cost | 4,750 | 4,750 |
Gross Unrealized (Losses) | (666) | (651) |
Securities | $ 4,084 | $ 4,099 |
Securities - (Contractual Matur
Securities - (Contractual Maturity of Securities Available for Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Debt Securities, Available-for-Sale [Abstract] | ||
Due in one year or less, Amortized Cost | $ 1,269 | |
Due after one year through five years, Amortized Cost | 7,446 | |
Due after five years through ten years, Amortized Cost | 17,473 | |
Due after ten years, Amortized Cost | 130,774 | |
Amortized Cost | 156,962 | $ 160,251 |
Due in one year or less, Fair Value | 1,263 | |
Due after one year through five years, Fair Value | 7,033 | |
Due after five years through ten years, Fair Value | 15,512 | |
Due after ten years, Fair Value | 108,059 | |
Fair Value | $ 131,867 | $ 137,443 |
Securities (Narrative) (Details
Securities (Narrative) (Details) $ in Thousands | Mar. 31, 2024 USD ($) Security | Dec. 31, 2023 USD ($) |
Schedule Of Available For Sale Securities [Line Items] | ||
Accrued interest receivable | $ 380 | |
Amortized cost basis | 156,962 | $ 160,251 |
Debt securities, available-for-sale | 131,867 | $ 137,443 |
Pledged as Collateral [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Debt securities, available-for-sale | $ 7,400 | |
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 | $ 131,400 |
Securities (Fair Value and Gros
Securities (Fair Value and Gross Unrealized Losses for Securities Available for Sale) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | $ 496 | $ 221 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4 | 29 |
Fair Value, 12 months or more | 130,871 | 136,221 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 25,091 | 22,780 |
Fair Value, Total | 131,367 | 136,442 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 25,095 | 22,809 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Fair Value, 12 months or more | 8,221 | 8,591 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 739 | 667 |
Fair Value, Total | 8,221 | 8,591 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 739 | 667 |
Mortgage-Backed Securities [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 0 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 0 |
Fair Value, 12 months or more | 113,731 | 118,822 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 23,330 | 21,230 |
Fair Value, Total | 113,731 | 118,822 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 23,330 | 21,230 |
Obligations of States and Political Subdivisions [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 496 | 0 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 4 | 0 |
Fair Value, 12 months or more | 5,335 | 5,430 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 356 | 261 |
Fair Value, Total | 5,831 | 5,430 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 360 | 261 |
Subordinated Debt [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Fair Value, Less than 12 months | 0 | 221 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss | 0 | 29 |
Fair Value, 12 months or more | 3,584 | 3,378 |
Available-for-sale Securities, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | 666 | 622 |
Fair Value, Total | 3,584 | 3,599 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | $ 666 | $ 651 |
Securities (Restricted Investme
Securities (Restricted Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | $ 9,239 | $ 9,568 |
Federal Reserve Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | 344 | 344 |
Federal Home Loan Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | 8,755 | 9,084 |
Community Bankers' Bank Stock [Member] | ||
Carrying Value Qualitative Disclosures Related To Election [Line Items] | ||
Restricted Investments | $ 140 | $ 140 |
Loans and Allowance for Credit
Loans and Allowance for Credit Losses on Loans - Schedule of Composition of Loans (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | $ 1,431,491 | $ 1,455,159 |
Net deferred loan costs and premiums | 7,561 | 7,527 |
Allowance for credit losses | (14,448) | (14,493) |
Net Loans | 1,424,604 | 1,448,193 |
Construction & Secured by Farmland | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 82,692 | 84,145 |
HELOCs | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 46,329 | 47,674 |
Residential First Lien - Investor | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 113,813 | 117,431 |
Residential First Lien - Owner Occupied | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 181,323 | 178,180 |
SBA PPP loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 45 | 51 |
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 344,192 | 348,879 |
Residential Junior Liens | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 12,690 | 12,831 |
Marine loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 247,042 | 251,168 |
Commercial - Owner Occupied | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 254,744 | 251,456 |
Consumer loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 34,529 | 42,419 |
Other Commercial And Industrial Loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 100,067 | 107,777 |
All other loans | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | 12,466 | 12,895 |
Overdrafts | ||
Financing Receivable Allowance For Credit Losses [Line Items] | ||
Loans | $ 1,559 | $ 253 |
Loans and Allowance for Credi_2
Loans and Allowance for Credit Losses on Loans (Narrative) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable Recorded Investment [Line Items] | ||
Loans | $ 1,431,491 | $ 1,455,159 |
Other Assets | ||
Financing Receivable Recorded Investment [Line Items] | ||
Loans Sold, Currently being Serviced | 7,600 | |
Net servicing assets | $ 144 |
Loans and Allowance for Credi_3
Loans and Allowance for Credit Losses on Loans - Schedule of Changes in Allowance for Loan Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Receivables [Abstract] | |||
Balance Beginning | $ 14,493 | $ 11,218 | $ 11,218 |
Cumulative effect adjustment for adoption of ASC 326 | 0 | 2,077 | 2,077 |
Provision for credit losses | 475 | 709 | 1,641 |
Recoveries added to the allowance | 185 | 21 | 298 |
Loan losses charged to the allowance | (705) | (75) | (741) |
Ending Balance | $ 14,448 | $ 13,950 | $ 14,493 |
Loans and Allowance for Credi_4
Loans and Allowance for Credit Losses on Loans - Schedule of Nonaccrual and Past Due Loans by Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | $ 1,428,216 | $ 1,452,899 |
Total Loans | 1,431,491 | 1,455,159 |
90 or More Days Past Due Still Accruing | 411 | 181 |
Nonaccrual Loans | 4,156 | 5,645 |
Nonaccruals with No Allowance for Credit Losses | 4,156 | 5,645 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Construction & Secured by Farmland | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 82,692 | 84,145 |
Total Loans | 82,692 | 84,145 |
Nonaccrual Loans | 0 | 95 |
Nonaccruals with No Allowance for Credit Losses | 0 | 95 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
HELOCs | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 46,310 | 47,674 |
Total Loans | 46,329 | 47,674 |
Nonaccrual Loans | 0 | 15 |
Nonaccruals with No Allowance for Credit Losses | 0 | 15 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Residential First Lien - Investor | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 112,909 | 116,334 |
Total Loans | 113,813 | 117,431 |
Nonaccrual Loans | 1,063 | 1,085 |
Nonaccruals with No Allowance for Credit Losses | 1,063 | 1,085 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 181,037 | 177,953 |
Total Loans | 181,323 | 178,180 |
Nonaccrual Loans | 224 | 228 |
Nonaccruals with No Allowance for Credit Losses | 224 | 228 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Residential Junior Liens | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 12,681 | 12,822 |
Total Loans | 12,690 | 12,831 |
Nonaccrual Loans | 9 | 11 |
Nonaccruals with No Allowance for Credit Losses | 9 | 11 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Commercial - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 254,737 | 251,456 |
Total Loans | 254,744 | 251,456 |
Nonaccrual Loans | 7 | 22 |
Nonaccruals with No Allowance for Credit Losses | 7 | 22 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 343,897 | 348,879 |
Total Loans | 344,192 | 348,879 |
Nonaccrual Loans | 2,336 | 3,625 |
Nonaccruals with No Allowance for Credit Losses | 2,336 | 3,625 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
SBA PPP loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 45 | 51 |
Total Loans | 45 | 51 |
Nonaccrual Loans | 0 | 0 |
Nonaccruals with No Allowance for Credit Losses | 0 | 0 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Other Commercial And Industrial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 99,905 | 107,742 |
Total Loans | 100,067 | 107,777 |
90 or More Days Past Due Still Accruing | 159 | 14 |
Nonaccrual Loans | 3 | 12 |
Nonaccruals with No Allowance for Credit Losses | 3 | 12 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 245,923 | 250,616 |
Total Loans | 247,042 | 251,168 |
Nonaccrual Loans | 514 | 552 |
Nonaccruals with No Allowance for Credit Losses | 514 | 552 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 34,055 | 42,079 |
Total Loans | 34,529 | 42,419 |
90 or More Days Past Due Still Accruing | 252 | 167 |
Nonaccrual Loans | 0 | 0 |
Nonaccruals with No Allowance for Credit Losses | 0 | 0 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Overdrafts | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 1,559 | 253 |
Total Loans | 1,559 | 253 |
Nonaccrual Loans | 0 | 0 |
Nonaccruals with No Allowance for Credit Losses | 0 | 0 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
Other Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 12,466 | 12,895 |
Total Loans | 12,466 | 12,895 |
Nonaccrual Loans | 0 | 0 |
Nonaccruals with No Allowance for Credit Losses | 0 | 0 |
Nonaccrual with an Allowance for Credit Losses | 0 | 0 |
30-59 Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 2,172 | 1,026 |
30-59 Days Past Due | Residential First Lien - Investor | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 904 | 844 |
30-59 Days Past Due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 139 | |
30-59 Days Past Due | Commercial - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 7 | |
30-59 Days Past Due | Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 295 | |
30-59 Days Past Due | Other Commercial And Industrial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 9 | |
30-59 Days Past Due | Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 605 | |
30-59 Days Past Due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 222 | 173 |
60 - 89 Days Past due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 19 | 331 |
60 - 89 Days Past due | HELOCs | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 19 | |
60 - 89 Days Past due | Residential First Lien - Investor | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 253 | |
60 - 89 Days Past due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 78 | |
90 or More Days Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 1,084 | 903 |
90 or More Days Past Due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 147 | 149 |
90 or More Days Past Due | Residential Junior Liens | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 9 | 9 |
90 or More Days Past Due | Other Commercial And Industrial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 162 | 26 |
90 or More Days Past Due | Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 514 | 552 |
90 or More Days Past Due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 252 | 167 |
Financial Asset, Past Due | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 3,275 | 2,260 |
Financial Asset, Past Due | HELOCs | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 19 | |
Financial Asset, Past Due | Residential First Lien - Investor | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 904 | 1,097 |
Financial Asset, Past Due | Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 286 | 227 |
Financial Asset, Past Due | Residential Junior Liens | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 9 | 9 |
Financial Asset, Past Due | Commercial - Owner Occupied | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 7 | |
Financial Asset, Past Due | Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 295 | |
Financial Asset, Past Due | Other Commercial And Industrial Loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 162 | 35 |
Financial Asset, Past Due | Marine loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | 1,119 | 552 |
Financial Asset, Past Due | Consumer loans | ||
Financing Receivable Recorded Investment Past Due [Line Items] | ||
Current loans | $ 474 | $ 340 |
Loans and Allowance for Credi_5
Loans and Allowance for Credit Losses on Loans - Schedule of Allowance for Loan Losses by Segment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | $ 14,493 | $ 11,218 | $ 11,218 |
Cumulative effect adjustment for adoption of ASC 326 | 0 | 2,077 | 2,077 |
Credit losses charged to the allowance | (705) | (75) | (741) |
Recoveries | 185 | 21 | 298 |
Provision for credit losses | 475 | 709 | 1,641 |
Ending Balance | 14,448 | 13,950 | 14,493 |
Ending balance: Individually evaluated for impairment | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 14,448 | 14,493 | |
Ending balance | 1,431,491 | 1,455,159 | |
Ending balance individually evaluated for impairment | 4,113 | 5,574 | |
Ending balance collectively evaluated for impairment | 1,427,378 | 1,449,585 | |
Construction And Farmland | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 772 | 2,714 | 2,714 |
Cumulative effect adjustment for adoption of ASC 326 | (1,840) | ||
Credit losses charged to the allowance | (94) | 0 | |
Recoveries | 2 | 8 | |
Provision for credit losses | 197 | (110) | |
Ending Balance | 877 | 772 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 877 | 772 | |
Ending balance | 82,692 | 84,145 | |
Ending balance individually evaluated for impairment | 0 | 95 | |
Ending balance collectively evaluated for impairment | 82,692 | 84,050 | |
Residential Real Estate | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 4,725 | 1,735 | 1,735 |
Cumulative effect adjustment for adoption of ASC 326 | 1,933 | ||
Credit losses charged to the allowance | (15) | 0 | |
Recoveries | 6 | 18 | |
Provision for credit losses | (95) | 1,039 | |
Ending Balance | 4,621 | 4,725 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 4,621 | 4,725 | |
Ending balance | 354,155 | 356,116 | |
Ending balance individually evaluated for impairment | 1,263 | 1,288 | |
Ending balance collectively evaluated for impairment | 352,892 | 354,828 | |
Commercial Real Estate & MultiFamily | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 6,224 | 2,221 | 2,221 |
Cumulative effect adjustment for adoption of ASC 326 | 3,584 | ||
Credit losses charged to the allowance | 0 | ||
Recoveries | 155 | 0 | |
Provision for credit losses | (473) | 419 | |
Ending Balance | 5,906 | 6,224 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 5,906 | 6,224 | |
Ending balance | 598,936 | 600,335 | |
Ending balance individually evaluated for impairment | 2,336 | 3,639 | |
Ending balance collectively evaluated for impairment | 596,600 | 596,696 | |
Commercial | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 1,027 | 2,222 | 2,222 |
Cumulative effect adjustment for adoption of ASC 326 | (1,102) | ||
Credit losses charged to the allowance | (74) | (312) | |
Recoveries | 14 | 43 | |
Provision for credit losses | 24 | 176 | |
Ending Balance | 991 | 1,027 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 991 | 1,027 | |
Ending balance | 100,112 | 107,828 | |
Ending balance individually evaluated for impairment | 0 | 0 | |
Ending balance collectively evaluated for impairment | 100,112 | 107,828 | |
Marine | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 1,153 | 1,555 | 1,555 |
Cumulative effect adjustment for adoption of ASC 326 | (285) | ||
Credit losses charged to the allowance | (453) | (126) | |
Recoveries | 0 | ||
Provision for credit losses | 841 | 9 | |
Ending Balance | 1,541 | 1,153 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 1,541 | 1,153 | |
Ending balance | 247,042 | 251,168 | |
Ending balance individually evaluated for impairment | 514 | 552 | |
Ending balance collectively evaluated for impairment | 246,528 | 250,616 | |
Consumer | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 198 | 299 | 299 |
Cumulative effect adjustment for adoption of ASC 326 | (123) | ||
Credit losses charged to the allowance | (38) | (121) | |
Recoveries | 5 | 48 | |
Provision for credit losses | (32) | 95 | |
Ending Balance | 133 | 198 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 133 | 198 | |
Ending balance | 34,529 | 42,419 | |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 34,529 | 42,419 | |
All Other Loans | |||
Financing Receivable Impaired [Line Items] | |||
Balance Beginning | 394 | $ 472 | 472 |
Cumulative effect adjustment for adoption of ASC 326 | (90) | ||
Credit losses charged to the allowance | (31) | (182) | |
Recoveries | 3 | 181 | |
Provision for credit losses | (85) | 13 | |
Ending Balance | 281 | 394 | |
Ending balance: Individually evaluated for impairment | 0 | ||
Ending balance: collectively evaluated for impairment | 281 | 394 | |
Ending balance | 14,025 | 13,148 | |
Ending balance individually evaluated for impairment | 0 | ||
Ending balance collectively evaluated for impairment | 14,025 | $ 13,148 | |
Unallocated | |||
Financing Receivable Impaired [Line Items] | |||
Provision for credit losses | 98 | ||
Ending Balance | 98 | ||
Ending balance: collectively evaluated for impairment | $ 98 |
Loans and Allowance for Credi_6
Loans and Allowance for Credit Losses on Loans - Schedule of Amortized Cost Basis of Collateral-Dependent Loans by Loan Portfolio Segment (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable, Past Due [Line Items] | ||
Commercial and industrial loans | $ 4,113 | $ 5,574 |
Construction & Secured by Farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 95 | |
Residential First Lien - Investor | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 1,063 | 1,086 |
Residential First Lien - Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 191 | 194 |
Residential Junior Liens | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 9 | 8 |
Commercial - Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 14 | |
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 2,336 | 3,625 |
Marine loans | ||
Financing Receivable, Past Due [Line Items] | ||
Commercial and industrial loans | 514 | 552 |
Real Estate Collateral [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Commercial and industrial loans | 3,599 | 5,022 |
Real Estate Collateral [Member] | Construction & Secured by Farmland | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 95 | |
Real Estate Collateral [Member] | Residential First Lien - Investor | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 1,063 | 1,086 |
Real Estate Collateral [Member] | Residential First Lien - Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 191 | 194 |
Real Estate Collateral [Member] | Residential Junior Liens | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 9 | 8 |
Real Estate Collateral [Member] | Commercial - Owner Occupied | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 14 | |
Real Estate Collateral [Member] | Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable, Past Due [Line Items] | ||
Mortgage real estate loans | 2,336 | 3,625 |
Other Collateral [Member] | ||
Financing Receivable, Past Due [Line Items] | ||
Commercial and industrial loans | 514 | 552 |
Other Collateral [Member] | Marine loans | ||
Financing Receivable, Past Due [Line Items] | ||
Commercial and industrial loans | $ 514 | $ 552 |
Loans and Allowance for Credi_7
Loans and Allowance for Credit Losses on Loans - Schedule of Credit Quality Information By Class (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | $ 1,428,216 | $ 1,452,899 |
Commercial - Non Real Estate Commercial And Industrial | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 45 | 51 |
Commercial - Non Real Estate Commercial And Industrial | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 45 | 51 |
Commercial - Non Real Estate Commercial And Industrial | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 45 | 51 |
Commercial - Non Real Estate Commercial And Industrial | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 45 | 51 |
Commercial - Owner Occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 254,744 | 251,456 |
Commercial - Owner Occupied | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,795 | |
Commercial - Owner Occupied | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36,549 | 36,736 |
Commercial - Owner Occupied | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 76,408 | 72,685 |
Commercial - Owner Occupied | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 40,816 | 41,738 |
Commercial - Owner Occupied | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 25,239 | 25,514 |
Commercial - Owner Occupied | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15,848 | |
Commercial - Owner Occupied | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 66,082 | 51,469 |
Commercial - Owner Occupied | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,629 | 3,088 |
Commercial - Owner Occupied | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,226 | 4,378 |
Commercial - Owner Occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 232,483 | 240,664 |
Commercial - Owner Occupied | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,795 | |
Commercial - Owner Occupied | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 35,991 | 36,736 |
Commercial - Owner Occupied | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 66,215 | 68,868 |
Commercial - Owner Occupied | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 35,461 | 40,707 |
Commercial - Owner Occupied | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 22,616 | 22,871 |
Commercial - Owner Occupied | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,971 | |
Commercial - Owner Occupied | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 62,550 | 50,059 |
Commercial - Owner Occupied | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,629 | 3,088 |
Commercial - Owner Occupied | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,226 | 4,364 |
Commercial - Owner Occupied | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 20,802 | 9,305 |
Commercial - Owner Occupied | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 558 | |
Commercial - Owner Occupied | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10,193 | 3,817 |
Commercial - Owner Occupied | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,397 | 64 |
Commercial - Owner Occupied | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,129 | 2,145 |
Commercial - Owner Occupied | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,877 | |
Commercial - Owner Occupied | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,525 | 1,402 |
Commercial - Owner Occupied | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,459 | 1,487 |
Commercial - Owner Occupied | Classified | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 958 | 967 |
Commercial - Owner Occupied | Classified | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 494 | 498 |
Commercial - Owner Occupied | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 7 | 8 |
Commercial - Owner Occupied | Classified | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 14 | |
Commercial - Non-Owner Occupied & Multifamily | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 344,192 | 348,879 |
Commercial - Non-Owner Occupied & Multifamily | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 959 | |
Commercial - Non-Owner Occupied & Multifamily | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 56,963 | 57,134 |
Commercial - Non-Owner Occupied & Multifamily | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 91,393 | 93,266 |
Commercial - Non-Owner Occupied & Multifamily | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 68,662 | 67,690 |
Commercial - Non-Owner Occupied & Multifamily | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 71,878 | 72,490 |
Commercial - Non-Owner Occupied & Multifamily | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15,563 | |
Commercial - Non-Owner Occupied & Multifamily | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 47,580 | 35,889 |
Commercial - Non-Owner Occupied & Multifamily | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,196 | 1,196 |
Commercial - Non-Owner Occupied & Multifamily | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,561 | 5,651 |
Commercial - Non-Owner Occupied & Multifamily | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 304,977 | 331,137 |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 959 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 41,292 | 56,510 |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 80,586 | 88,518 |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 65,003 | 64,005 |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 62,800 | 65,075 |
Commercial - Non-Owner Occupied & Multifamily | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15,563 | |
Commercial - Non-Owner Occupied & Multifamily | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 47,580 | 34,619 |
Commercial - Non-Owner Occupied & Multifamily | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,196 | 1,196 |
Commercial - Non-Owner Occupied & Multifamily | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,561 | 5,651 |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36,878 | 14,117 |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15,671 | 624 |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10,807 | 4,748 |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,659 | 3,685 |
Commercial - Non-Owner Occupied & Multifamily | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,741 | 5,060 |
Commercial - Non-Owner Occupied & Multifamily | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,337 | 3,625 |
Commercial - Non-Owner Occupied & Multifamily | Classified | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,337 | 2,355 |
Commercial - Non-Owner Occupied & Multifamily | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,270 | |
HELOCs | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 46,329 | 47,674 |
Current period gross charge-offs | 14 | |
HELOCs | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Current period gross charge-offs | 14 | |
HELOCs | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 46,329 | 47,674 |
HELOCs | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 46,280 | 47,610 |
HELOCs | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 46,280 | 47,610 |
HELOCs | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 49 | 49 |
HELOCs | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 49 | 49 |
HELOCs | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15 | |
HELOCs | Classified | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15 | |
Residential First Lien - Investor | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 113,813 | 117,431 |
Residential First Lien - Investor | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,674 | |
Residential First Lien - Investor | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 18,785 | 19,394 |
Residential First Lien - Investor | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 22,806 | 24,478 |
Residential First Lien - Investor | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 31,475 | 32,456 |
Residential First Lien - Investor | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 11,567 | 11,847 |
Residential First Lien - Investor | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,680 | |
Residential First Lien - Investor | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 26,360 | 24,209 |
Residential First Lien - Investor | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,146 | 367 |
Residential First Lien - Investor | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 108,780 | 111,323 |
Residential First Lien - Investor | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,674 | |
Residential First Lien - Investor | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 18,785 | 19,394 |
Residential First Lien - Investor | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 22,529 | 23,205 |
Residential First Lien - Investor | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 30,136 | 31,371 |
Residential First Lien - Investor | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,795 | 10,667 |
Residential First Lien - Investor | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,054 | |
Residential First Lien - Investor | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,715 | 22,265 |
Residential First Lien - Investor | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,146 | 367 |
Residential First Lien - Investor | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,970 | 5,023 |
Residential First Lien - Investor | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 277 | 1,273 |
Residential First Lien - Investor | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 276 | |
Residential First Lien - Investor | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,772 | 1,180 |
Residential First Lien - Investor | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 626 | |
Residential First Lien - Investor | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,645 | 1,944 |
Residential First Lien - Investor | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,063 | 1,085 |
Residential First Lien - Investor | Classified | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,063 | 1,085 |
Residential First Lien - Investor | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 0 | |
Residential First Lien - Owner Occupied | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 181,323 | 178,180 |
Residential First Lien - Owner Occupied | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,267 | |
Residential First Lien - Owner Occupied | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 55,504 | 59,007 |
Residential First Lien - Owner Occupied | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 34,025 | 33,793 |
Residential First Lien - Owner Occupied | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 23,561 | 23,749 |
Residential First Lien - Owner Occupied | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 35,310 | 35,783 |
Residential First Lien - Owner Occupied | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,932 | |
Residential First Lien - Owner Occupied | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,100 | 21,327 |
Residential First Lien - Owner Occupied | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 556 | 589 |
Residential First Lien - Owner Occupied | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 180,627 | 177,266 |
Residential First Lien - Owner Occupied | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,267 | |
Residential First Lien - Owner Occupied | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 55,504 | 59,007 |
Residential First Lien - Owner Occupied | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 34,025 | 33,793 |
Residential First Lien - Owner Occupied | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 23,561 | 23,749 |
Residential First Lien - Owner Occupied | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 35,310 | 35,783 |
Residential First Lien - Owner Occupied | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,932 | |
Residential First Lien - Owner Occupied | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 23,404 | 20,413 |
Residential First Lien - Owner Occupied | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 556 | 589 |
Residential First Lien - Owner Occupied | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 47 | 258 |
Residential First Lien - Owner Occupied | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 47 | 258 |
Residential First Lien - Owner Occupied | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 649 | 656 |
Residential First Lien - Owner Occupied | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 649 | 656 |
Residential Junior Liens | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,690 | 12,831 |
Current period gross charge-offs | 1 | |
Residential Junior Liens | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 242 | |
Residential Junior Liens | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,643 | 2,562 |
Residential Junior Liens | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,836 | 2,902 |
Residential Junior Liens | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,357 | 3,429 |
Residential Junior Liens | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,460 | 1,486 |
Residential Junior Liens | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 606 | |
Residential Junior Liens | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,951 | 1,640 |
Current period gross charge-offs | 1 | |
Residential Junior Liens | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 201 | |
Residential Junior Liens | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 206 | |
Residential Junior Liens | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,650 | 12,787 |
Residential Junior Liens | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 242 | |
Residential Junior Liens | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,643 | 2,562 |
Residential Junior Liens | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,836 | 2,902 |
Residential Junior Liens | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,357 | 3,429 |
Residential Junior Liens | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,460 | 1,486 |
Residential Junior Liens | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 606 | |
Residential Junior Liens | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,926 | 1,613 |
Residential Junior Liens | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 186 | 189 |
Residential Junior Liens | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 40 | 44 |
Residential Junior Liens | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 25 | 27 |
Residential Junior Liens | Classified | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15 | 17 |
Other Commercial And Industrial Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 100,067 | 107,777 |
Current period gross charge-offs | 74 | 312 |
Other Commercial And Industrial Loans | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,766 | |
Other Commercial And Industrial Loans | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 15,772 | 16,177 |
Current period gross charge-offs | 11 | 231 |
Other Commercial And Industrial Loans | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 25,956 | 26,798 |
Current period gross charge-offs | 9 | 81 |
Other Commercial And Industrial Loans | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,154 | 8,659 |
Other Commercial And Industrial Loans | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,424 | 4,840 |
Current period gross charge-offs | 54 | |
Other Commercial And Industrial Loans | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,630 | |
Other Commercial And Industrial Loans | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,312 | 3,907 |
Other Commercial And Industrial Loans | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 34,325 | 43,417 |
Other Commercial And Industrial Loans | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,358 | 1,349 |
Other Commercial And Industrial Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 94,906 | 106,053 |
Other Commercial And Industrial Loans | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,766 | |
Other Commercial And Industrial Loans | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,803 | 15,052 |
Other Commercial And Industrial Loans | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 25,956 | 26,798 |
Other Commercial And Industrial Loans | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,154 | 8,659 |
Other Commercial And Industrial Loans | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,421 | 4,824 |
Other Commercial And Industrial Loans | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,629 | |
Other Commercial And Industrial Loans | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,268 | 3,898 |
Other Commercial And Industrial Loans | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 32,496 | 43,188 |
Other Commercial And Industrial Loans | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,042 | 1,005 |
Other Commercial And Industrial Loans | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,158 | 1,712 |
Other Commercial And Industrial Loans | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,969 | 1,125 |
Other Commercial And Industrial Loans | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13 | |
Other Commercial And Industrial Loans | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1 | |
Other Commercial And Industrial Loans | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44 | 9 |
Other Commercial And Industrial Loans | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,829 | 220 |
Other Commercial And Industrial Loans | Special Mention | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 316 | 344 |
Other Commercial And Industrial Loans | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3 | 12 |
Other Commercial And Industrial Loans | Classified | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3 | |
Other Commercial And Industrial Loans | Classified | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3 | |
Other Commercial And Industrial Loans | Classified | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9 | |
Marine loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 247,042 | 251,168 |
Current period gross charge-offs | 453 | 126 |
Marine loans | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 84,724 | 86,368 |
Current period gross charge-offs | 366 | |
Marine loans | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 126,544 | 128,641 |
Current period gross charge-offs | 87 | 126 |
Marine loans | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 35,114 | 35,492 |
Marine loans | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 660 | 667 |
Marine loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 246,528 | 250,616 |
Marine loans | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 84,210 | 86,001 |
Marine loans | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 126,544 | 128,456 |
Marine loans | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 35,114 | 35,492 |
Marine loans | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 660 | 667 |
Marine loans | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 514 | 552 |
Marine loans | Classified | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 514 | 367 |
Marine loans | Classified | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 185 | |
Consumer loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 34,529 | 42,419 |
Current period gross charge-offs | 38 | 121 |
Consumer loans | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 699 | |
Current period gross charge-offs | 28 | |
Consumer loans | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,993 | 3,427 |
Current period gross charge-offs | 10 | |
Consumer loans | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,411 | 13,950 |
Current period gross charge-offs | 3 | |
Consumer loans | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,966 | 6,205 |
Consumer loans | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,448 | 8,687 |
Current period gross charge-offs | 66 | |
Consumer loans | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,747 | |
Consumer loans | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,692 | 21 |
Consumer loans | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,279 | 8,354 |
Current period gross charge-offs | 52 | |
Consumer loans | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 41 | 28 |
Consumer loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 34,529 | 42,419 |
Consumer loans | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 699 | |
Consumer loans | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,993 | 3,427 |
Consumer loans | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,411 | 13,950 |
Consumer loans | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,966 | 6,205 |
Consumer loans | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,448 | 8,687 |
Consumer loans | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,747 | |
Consumer loans | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,692 | 21 |
Consumer loans | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,279 | 8,354 |
Consumer loans | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 41 | 28 |
Construction & Secured by Farmland | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 82,692 | 84,145 |
Current period gross charge-offs | 94 | |
Construction & Secured by Farmland | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,581 | |
Construction & Secured by Farmland | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 38,731 | 34,617 |
Construction & Secured by Farmland | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 20,332 | 22,633 |
Construction & Secured by Farmland | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,911 | 7,584 |
Construction & Secured by Farmland | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,940 | 4,996 |
Construction & Secured by Farmland | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,429 | |
Construction & Secured by Farmland | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,972 | 3,777 |
Current period gross charge-offs | 94 | |
Construction & Secured by Farmland | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,225 | 7,052 |
Construction & Secured by Farmland | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 57 | |
Construction & Secured by Farmland | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 74,949 | 80,839 |
Construction & Secured by Farmland | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,581 | |
Construction & Secured by Farmland | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 32,199 | 34,617 |
Construction & Secured by Farmland | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 20,332 | 21,460 |
Construction & Secured by Farmland | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,911 | 7,584 |
Construction & Secured by Farmland | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 4,797 | 4,851 |
Construction & Secured by Farmland | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,389 | |
Construction & Secured by Farmland | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 5,904 | 2,829 |
Construction & Secured by Farmland | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,225 | 7,052 |
Construction & Secured by Farmland | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 57 | |
Construction & Secured by Farmland | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 7,564 | 3,028 |
Construction & Secured by Farmland | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,532 | |
Construction & Secured by Farmland | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,173 | |
Construction & Secured by Farmland | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,040 | |
Construction & Secured by Farmland | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,032 | 815 |
Construction & Secured by Farmland | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 179 | 278 |
Construction & Secured by Farmland | Classified | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 143 | 145 |
Construction & Secured by Farmland | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 36 | 133 |
Overdrafts | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,559 | 253 |
Current period gross charge-offs | 31 | 182 |
Overdrafts | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,559 | |
Current period gross charge-offs | 31 | |
Overdrafts | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 253 | |
Current period gross charge-offs | 182 | |
Overdrafts | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,559 | 253 |
Overdrafts | Classified | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,559 | |
Overdrafts | Classified | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 253 | |
Other Loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,466 | 12,895 |
Other Loans | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 65 | 69 |
Other Loans | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,927 | 10,176 |
Other Loans | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,409 | 2,587 |
Other Loans | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 59 | 55 |
Other Loans | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6 | 8 |
Other Loans | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,466 | 12,895 |
Other Loans | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 65 | 69 |
Other Loans | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 9,927 | 10,176 |
Other Loans | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,409 | 2,587 |
Other Loans | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 59 | 55 |
Other Loans | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6 | 8 |
Total by Risk Category | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,431,491 | 1,455,159 |
Current period gross charge-offs | 705 | 741 |
Total by Risk Category | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24,542 | |
Current period gross charge-offs | 59 | |
Total by Risk Category | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 312,729 | 315,744 |
Current period gross charge-offs | 387 | 413 |
Total by Risk Category | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 423,638 | 429,322 |
Current period gross charge-offs | 96 | 210 |
Total by Risk Category | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 222,061 | 227,053 |
Total by Risk Category | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 163,926 | 166,310 |
Current period gross charge-offs | 54 | 66 |
Total by Risk Category | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 48,435 | |
Total by Risk Category | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 183,458 | 144,826 |
Current period gross charge-offs | 109 | |
Total by Risk Category | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 88,042 | 110,836 |
Current period gross charge-offs | 52 | |
Total by Risk Category | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 13,095 | 12,633 |
Total by Risk Category | Pass | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,349,220 | 1,413,660 |
Total by Risk Category | Pass | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 22,983 | |
Total by Risk Category | Pass | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 286,485 | 313,375 |
Total by Risk Category | Pass | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 402,361 | 418,126 |
Total by Risk Category | Pass | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 211,708 | 221,252 |
Total by Risk Category | Pass | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 150,307 | 154,911 |
Total by Risk Category | Pass | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 44,891 | |
Total by Risk Category | Pass | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 176,448 | 138,304 |
Total by Risk Category | Pass | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 86,164 | 110,543 |
Total by Risk Category | Pass | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 12,764 | 12,258 |
Total by Risk Category | Special Mention | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 74,468 | 33,492 |
Total by Risk Category | Special Mention | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 25,730 | 1,749 |
Total by Risk Category | Special Mention | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 21,277 | 11,011 |
Total by Risk Category | Special Mention | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 8,332 | 3,749 |
Total by Risk Category | Special Mention | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 10,642 | 8,398 |
Total by Risk Category | Special Mention | 2019 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 3,544 | |
Total by Risk Category | Special Mention | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 6,293 | 4,428 |
Total by Risk Category | Special Mention | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,878 | 269 |
Total by Risk Category | Special Mention | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 316 | 344 |
Total by Risk Category | Classified | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 7,803 | 8,007 |
Total by Risk Category | Classified | 2024 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 1,559 | |
Total by Risk Category | Classified | 2023 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 514 | 620 |
Total by Risk Category | Classified | 2022 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 185 | |
Total by Risk Category | Classified | 2021 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,021 | 2,052 |
Total by Risk Category | Classified | 2020 | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 2,977 | 3,001 |
Total by Risk Category | Classified | Prior | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 717 | 2,094 |
Total by Risk Category | Classified | Revolving Loans Amortized Cost Basis | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | 24 | |
Total by Risk Category | Classified | Revolving Loans Converted to Term | ||
Financing Receivable Recorded Investment [Line Items] | ||
Financing Receivables | $ 15 | $ 31 |
Restructurings for Borrowers _3
Restructurings for Borrowers Experiencing Financial Difficulty (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2024 | |
Financing Receivable Modifications [Line Items] | |
Mortgage loans on real estate weighted average term | 1 year |
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) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Term Extension | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Total | $ 0 | $ 355 |
Total Modification | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Total | $ 0 | $ 355 |
Residential First Lien - Owner Occupied | ||
Troubled Debt Restructuring Subsequent Periods [Line Items] | ||
Mortgage loans on real estate, percentage | 0.27% | |
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 |
Deposits (Composition Of Deposi
Deposits (Composition Of Deposits) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Deposits [Abstract] | ||
Noninterest bearing demand deposits | $ 424,869 | $ 436,619 |
NOW accounts | 263,579 | 253,353 |
Money market accounts | 263,791 | 263,633 |
Regular savings accounts | 139,360 | 139,453 |
Savings and interest bearing demand deposits | 666,730 | 656,439 |
Balances of less than $250,000 | 243,226 | 257,418 |
Balances of $250,000 and more | 139,117 | 155,846 |
Time deposits | 382,343 | 413,264 |
Total deposits | $ 1,473,942 | $ 1,506,322 |
Leases - Schedule of Lease Info
Leases - Schedule of Lease Information (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Lessee, Lease, Description [Line Items] | |||
Lease liabilities | $ 4,588 | $ 4,653 | |
Right-of-use assets | $ 4,291 | $ 4,387 | |
Weighted average remaining lease term | 13 years | 14 years | |
Weighted average discount rate | 3.11% | 3.09% | |
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other Liabilities | Other Liabilities | |
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets | |
Lease Cost | |||
Operating lease cost | $ 132 | $ 132 | |
Short-term lease cost | 4 | 4 | |
Total lease cost | 136 | 136 | |
Cash paid for amounts included in the measurement of lease liabilities | $ 118 | $ 117 |
Leases - Schedule of Maturity o
Leases - Schedule of Maturity of Lease Liability (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Lessee, Lease, Description [Line Items] | ||
Twelve months ending March 31, 2025 | $ 481 | |
Twelve months ending March 31, 2026 | 484 | |
Twelve months ending March 31, 2027 | 393 | |
Twelve months ending March 31, 2028 | 392 | |
Twelve months ending March 31, 2029 | 397 | |
Thereafter | 3,654 | |
Total undiscounted cash flows | 5,801 | |
Discount | (1,213) | |
Lease liabilities | $ 4,588 | $ 4,653 |
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 | Mar. 31, 2024 | Dec. 31, 2023 |
Securities available for sale | ||
Total assets at fair value | $ 133,380 | $ 138,908 |
Derivative: | ||
Interest rate swaps | 1,513 | 1,465 |
Liabilities: | ||
Interest rate swaps | 1,513 | 1,465 |
Total liabilities at fair value | 1,513 | 1,465 |
Obligations of U.S. Government Corporations and Agencies [Member] | ||
Securities available for sale | ||
Total assets at fair value | 8,221 | 8,591 |
Mortgage-Backed Securities [Member] | ||
Securities available for sale | ||
Total assets at fair value | 113,731 | 118,822 |
Obligations of States and Political Subdivisions [Member] | ||
Securities available for sale | ||
Total assets at fair value | 5,831 | 5,931 |
Subordinated Debt [Member] | ||
Securities available for sale | ||
Total assets at fair value | 4,084 | 4,099 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Securities available for sale | ||
Total assets at fair value | 133,380 | 138,908 |
Derivative: | ||
Interest rate swaps | 1,513 | 1,465 |
Liabilities: | ||
Interest rate swaps | 1,513 | 1,465 |
Total liabilities at fair value | 1,513 | 1,465 |
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 | 8,221 | 8,591 |
Significant Other Observable Inputs (Level 2) [Member] | Mortgage-Backed Securities [Member] | ||
Securities available for sale | ||
Total assets at fair value | 113,731 | 118,822 |
Significant Other Observable Inputs (Level 2) [Member] | Obligations of States and Political Subdivisions [Member] | ||
Securities available for sale | ||
Total assets at fair value | 5,831 | 5,931 |
Significant Other Observable Inputs (Level 2) [Member] | Subordinated Debt [Member] | ||
Securities available for sale | ||
Total assets at fair value | $ 4,084 | $ 4,099 |
Fair Value Measurements (Narrat
Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended |
Mar. 31, 2024 | Dec. 31, 2023 | |
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items] | ||
Balance Other Real Estate Own | $ 0 | $ 0 |
Repossessed Assets | 415 | 304 |
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 |
Fair Value Measurements (Quanti
Fair Value Measurements (Quantitative Information About Level 3 Fair Value Measurements For Certain Financial Assets) (Details) - Repossessed assets | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Dec. 31, 2023 | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |||
Quantitative information about Level 3 Fair Value Measurements | 10% | ||
Minimum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |||
Quantitative information about Level 3 Fair Value Measurements | 4% | ||
Maximum [Member] | |||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | |||
Quantitative information about Level 3 Fair Value Measurements | 10% | ||
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 | [1] | 8% | 10% |
[1] Weighted based on the relative fair value of the specific items measured at fair value. |
Fair Value Measurements (Fina_2
Fair Value Measurements (Financial And Nonfinancial Assets Measured At Fair Value On A Nonrecurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financial Assets: | ||
Repossessed Assets | $ 415 | $ 304 |
Fair Value Measurements Nonrecurring [Member] | Nonfinancial Assets [Member] | ||
Financial Assets: | ||
Repossessed Assets | 415 | 304 |
Significant Unobservable Inputs (Level 3) [Member] | Fair Value Measurements Nonrecurring [Member] | Nonfinancial Assets [Member] | ||
Financial Assets: | ||
Repossessed Assets | $ 415 | $ 304 |
Fair Value Measurements (Compan
Fair Value Measurements (Company's Financial Instruments) (Details) - USD ($) $ in Thousands | Mar. 31, 2024 | Dec. 31, 2023 |
Financial Assets: | ||
Cash and short-term investments | $ 127,633 | $ 138,353 |
Securities | 131,867 | 137,443 |
Restricted Investments | 9,239 | 9,568 |
Loans held for sale | 1,593 | 1,661 |
Loans, net | 1,424,604 | 1,448,193 |
Bank owned life insurance | 29,843 | 29,575 |
Accrued interest receivable | 5,137 | 5,008 |
Interest rate swaps | 1,513 | 1,465 |
Financial liabilities: | ||
Deposits | 1,473,942 | 1,506,322 |
Federal funds purchased | 347 | 0 |
Federal Home Loan Bank advances, short-term | 10,000 | 20,000 |
Federal Home Loan Bank advances, long-term | 145,000 | 145,000 |
Subordinated debt, net of unamortized issuance costs | 29,461 | 29,444 |
Accrued interest payable | 1,912 | 2,364 |
Interest rate swaps | 1,513 | 1,465 |
Fair Value [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 127,633 | 138,353 |
Securities | 131,867 | 137,443 |
Restricted Investments | 9,239 | 9,568 |
Loans held for sale | 1,593 | 1,661 |
Loans, net | 1,340,172 | 1,377,017 |
Bank owned life insurance | 29,843 | 29,575 |
Accrued interest receivable | 5,137 | 5,008 |
Interest rate swaps | 1,513 | 1,465 |
Financial liabilities: | ||
Deposits | 1,473,772 | 1,506,147 |
Federal funds purchased | 347 | |
Federal Home Loan Bank advances, short-term | 9,977 | 19,954 |
Federal Home Loan Bank advances, long-term | 145,145 | 145,141 |
Subordinated debt, net of unamortized issuance costs | 25,122 | 25,581 |
Accrued interest payable | 1,912 | 2,364 |
Interest rate swaps | 1,513 | 1,465 |
Quoted Prices In Active Markets For Identical Assets (Level 1) [Member] | ||
Financial Assets: | ||
Cash and short-term investments | 127,633 | 138,353 |
Significant Other Observable Inputs (Level 2) [Member] | ||
Financial Assets: | ||
Securities | 131,867 | 137,443 |
Restricted Investments | 9,239 | 9,568 |
Loans held for sale | 1,593 | 1,661 |
Bank owned life insurance | 29,843 | 29,575 |
Accrued interest receivable | 5,137 | 5,008 |
Interest rate swaps | 1,513 | 1,465 |
Financial liabilities: | ||
Deposits | 1,473,772 | 1,506,147 |
Federal funds purchased | 347 | |
Federal Home Loan Bank advances, short-term | 9,977 | 19,954 |
Federal Home Loan Bank advances, long-term | 145,145 | 145,141 |
Subordinated debt, net of unamortized issuance costs | 25,122 | 25,581 |
Accrued interest payable | 1,912 | 2,364 |
Interest rate swaps | 1,513 | 1,465 |
Significant Unobservable Inputs (Level 3) [Member] | ||
Financial Assets: | ||
Loans, net | $ 1,340,172 | $ 1,377,017 |
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 | |
Mar. 31, 2024 | Mar. 31, 2023 | |
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | $ (18,006) | $ (20,446) |
Other comprehensive (loss) before reclassifications | (2,291) | 3,764 |
Reclassifications | (1) | |
Tax effect of current period changes | 481 | (789) |
Total other comprehensive (loss) income | (1,811) | 2,975 |
Ending balance | (19,817) | (17,471) |
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | (18,020) | (20,465) |
Other comprehensive (loss) before reclassifications | (2,287) | 3,772 |
Tax effect of current period changes | 480 | (792) |
Total other comprehensive (loss) income | (1,807) | 2,980 |
Ending balance | (19,827) | (17,485) |
Accumulated Defined Benefit Plans Adjustment Attributable to Parent | ||
Accumulated Other Comprehensive Income Loss [Line Items] | ||
Beginning balance | 14 | 19 |
Other comprehensive (loss) before reclassifications | (4) | (8) |
Reclassifications | (1) | |
Tax effect of current period changes | 1 | 3 |
Total other comprehensive (loss) income | (4) | (5) |
Ending balance | $ 10 | $ 14 |
Change in Accumulated Other C_4
Change in Accumulated Other Comprehensive Income (Loss) (Narrative) (Details) $ in Thousands | 3 Months Ended |
Mar. 31, 2024 USD ($) | |
Accumulated Other Comprehensive Income Loss [Line Items] | |
Reclassification adjustments | $ (1) |
Tax expense related to reclassification | 1 |
Defined Benefit Plan | |
Accumulated Other Comprehensive Income Loss [Line Items] | |
Reclassification adjustments | $ 1 |
Other Real Estate Owned - Other
Other Real Estate Owned - Other Real Estate Owned Rollforward (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Real Estate [Abstract] | |||
Balance, beginning | $ 0 | $ 108 | $ 108 |
Transfer from loans | 0 | 0 | 0 |
Gain on foreclosures | 0 | 0 | 0 |
Sales | 0 | (108) | (108) |
Valuation adjustments | 0 | 0 | 0 |
Balance, ending | $ 0 | $ 0 | $ 0 |
Qualified Affordable Housing _2
Qualified Affordable Housing Project Investments (Details) - USD ($) $ in Thousands | 3 Months Ended | |||
Jan. 01, 2024 | Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Federal Home Loan Banks [Abstract] | ||||
Amortization Method Qualified Affordable Housing Project Investments | $ 1,500 | $ 2,000 | ||
Qualified Affordable Housing Project Investments, Commitment | 0 | $ 0 | ||
Amortization Method Qualified Affordable Housing Project Investments, Amortization | 74 | $ 104 | ||
Affordable Housing Tax Credits and Other Tax Benefits Expected to Be Received | 306 | |||
Affordable Housing Tax Credits and Other Tax Benefits, Amount | 77 | $ 90 | ||
Cumulative Effect Period of Adoption, Adjustment | $ 477 | $ (477) |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements and Other Authoritative Guidance (Additional Information) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jan. 01, 2024 | Mar. 31, 2024 | |
Reclassification [Line Items] | ||
Cumulative effect adjustment for adopton of ASU 2023-02 | $ 477 | $ (477) |
Cumulative Effect, Period of Adoption, Adjustment [Member] | ||
Reclassification [Line Items] | ||
Cumulative effect adjustment for adopton of ASU 2023-02 | $ 477 |
Borrowings (Narrative) (Details
Borrowings (Narrative) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2024 | Sep. 30, 2023 | Dec. 31, 2023 | 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 | 10,000 | $ 20,000 | ||
Unamortized debt issuance cost | 539 | |||
Federal Home Loan Bank of Atlanta | ||||
Debt Instrument [Line Items] | ||||
Federal Home Loan Bank, Advance | 155,000 | |||
Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
FHLB irrevocable letter of credit | 115,600 | |||
Federal Home Loan Bank, Advance | 20,000 | |||
Short-Term Debt [Member] | Federal Home Loan Bank Advances | ||||
Debt Instrument [Line Items] | ||||
Federal Home Loan Bank, Advance | $ 10,000 | |||
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 | $ 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 | Mar. 31, 2024 | Dec. 31, 2023 |
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 | $ 40,815 | $ 41,051 |
Assets | 1,234 | 844 |
Liabilities | 279 | 621 |
Customer-related interest rate swap contracts | Matched interest rate swaps with counterparty | ||
Derivative [Line Items] | ||
Notional Amount | 40,815 | 41,051 |
Assets | 279 | 621 |
Liabilities | $ 1,234 | $ 844 |
Business Segments - Schedule of
Business Segments - Schedule of the wealth management division's revenue and expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2024 | Mar. 31, 2023 | Dec. 31, 2023 | |
Segment Reporting Information [Line Items] | |||
Interest Expense | $ 9,488 | $ 5,914 | |
Net Interest Income | 12,424 | 12,644 | |
Gain on sales of loans | 161 | 456 | |
Other noninterest income | 163 | 250 | |
Provision for credit losses | 475 | 664 | |
Noninterest expense | 12,377 | 12,386 | |
Income before taxes | 3,043 | 3,120 | |
Income tax expense | 495 | 535 | |
Net Income (Loss) | 2,548 | 2,585 | |
Other data: | |||
Total assets | 1,782,901 | $ 1,825,597 | |
Community Banking [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 18,450 | 15,241 | |
Interest Expense | 7,694 | 4,367 | |
Net Interest Income | 10,756 | 10,874 | |
Gain on sales of loans | 161 | 214 | |
Other noninterest income | 1,932 | 1,862 | |
Net Revenue | 12,849 | 12,950 | |
Provision for credit losses | 86 | 506 | |
Noninterest expense | 11,317 | 10,360 | |
Income before taxes | 1,446 | 2,084 | |
Income tax expense | 145 | 327 | |
Net Income (Loss) | 1,301 | 1,757 | |
Other data: | |||
Capital expenditures | 91 | 10 | |
Depreciation and amortization | 338 | 420 | |
Total assets | 1,526,973 | 1,562,600 | |
Marine Lending [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 3,462 | 3,317 | |
Interest Expense | 1,440 | 1,193 | |
Net Interest Income | 2,022 | 2,124 | |
Gain on sales of loans | 0 | 242 | |
Other noninterest income | 0 | 50 | |
Net Revenue | 2,022 | 2,416 | |
Provision for credit losses | 389 | 158 | |
Noninterest expense | 218 | 1,282 | |
Income before taxes | 1,415 | 976 | |
Income tax expense | 297 | 205 | |
Net Income (Loss) | 1,118 | 771 | |
Other data: | |||
Capital expenditures | 0 | 17 | |
Depreciation and amortization | 0 | 95 | |
Total assets | 253,912 | 261,011 | |
Wealth Management [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 0 | 0 | |
Interest Expense | 0 | 0 | |
Net Interest Income | 0 | 0 | |
Gain on sales of loans | 0 | 0 | |
Other noninterest income | 1,378 | 1,158 | |
Net Revenue | 1,378 | 1,158 | |
Provision for credit losses | 0 | 0 | |
Noninterest expense | 729 | 603 | |
Income before taxes | 649 | 555 | |
Income tax expense | 136 | 117 | |
Net Income (Loss) | 513 | 438 | |
Other data: | |||
Capital expenditures | 3 | 0 | |
Depreciation and amortization | 32 | 31 | |
Total assets | 1,051 | 1,080 | |
All Other [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 0 | 0 | |
Interest Expense | 354 | 354 | |
Net Interest Income | (354) | (354) | |
Gain on sales of loans | 0 | 0 | |
Other noninterest income | 0 | 0 | |
Net Revenue | (354) | (354) | |
Provision for credit losses | 0 | 0 | |
Noninterest expense | 113 | 141 | |
Income before taxes | (467) | (495) | |
Income tax expense | (83) | (114) | |
Net Income (Loss) | (384) | (381) | |
Other data: | |||
Capital expenditures | 0 | 0 | |
Depreciation and amortization | 17 | 17 | |
Total assets | 965 | 906 | |
Eliminations [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 0 | 0 | |
Interest Expense | 0 | 0 | |
Net Interest Income | 0 | 0 | |
Gain on sales of loans | 0 | 0 | |
Other noninterest income | 0 | 0 | |
Net Revenue | 0 | 0 | |
Provision for credit losses | 0 | 0 | |
Noninterest expense | 0 | 0 | |
Income before taxes | 0 | 0 | |
Income tax expense | 0 | 0 | |
Net Income (Loss) | 0 | 0 | |
Other data: | |||
Capital expenditures | 0 | 0 | |
Depreciation and amortization | 0 | 0 | |
Total assets | 0 | 0 | |
Consolidated [Member] | |||
Segment Reporting Information [Line Items] | |||
Interest Income | 21,912 | 18,558 | |
Interest Expense | 9,488 | 5,914 | |
Net Interest Income | 12,424 | 12,644 | |
Gain on sales of loans | 161 | 456 | |
Other noninterest income | 3,310 | 3,070 | |
Net Revenue | 15,895 | 16,170 | |
Provision for credit losses | 475 | 664 | |
Noninterest expense | 12,377 | 12,386 | |
Income before taxes | 3,043 | 3,120 | |
Income tax expense | 495 | 535 | |
Net Income (Loss) | 2,548 | 2,585 | |
Other data: | |||
Capital expenditures | 94 | 7 | |
Depreciation and amortization | 387 | $ 563 | |
Total assets | $ 1,782,901 | $ 1,825,597 |
Business Segments (Narrative) (
Business Segments (Narrative) (Details) $ in Thousands | Aug. 23, 2023 USD ($) |
Axos Bank [Member] | |
Segment Reporting Information [Line Items] | |
Loans sold | $ 52,800 |
Service loan | 595 |
Loan Purchase Agreement [Member] | |
Segment Reporting Information [Line Items] | |
Proceeds from Sale of Assets Net of Selling Expenses | 53,500 |
Gain on Sale of Marine Business | $ 435 |