Loans Receivable (Tables)

v3.26.1

Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2025
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Loans consist of the following as of December 31, 2025, and December 31, 2024: (Dollars in thousands) December 31, 2025 December 31, 2024 Loans secured by real estate: Residential real estate $ 442,443  $ 467,293  Home equity 53,497  49,758  Commercial real estate 555,594  551,674  Construction and land development 77,208  82,874  Multifamily 183,902  212,455  Total loans secured by real estate 1,312,644  1,364,054  Commercial business 99,304  104,246  Consumer 870  551  Manufactured homes 23,708  26,708  Government 12,298  11,024  Loans receivable 1,448,824  1,506,583  Add: Net deferred loan origination costs 1,606  2,439  Loan clearing funds (43) (46) Loans receivable, net of deferred fees and costs $ 1,450,387  $ 1,508,976
Schedule of Financing Receivable, Past Due	The Company's age analysis of past due loans is summarized below: (Dollars in thousands) 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Total Past Due and Accruing Current Accruing Loans Nonaccrual Loans Total Loans Receivable December 31, 2025 Residential real estate $ 4,991  $ 1,552  $ -  $ 6,543  $ 429,968  $ 436,511  $ 5,932  $ 442,443  Home equity 324  -  -  324  52,363  52,687  810  53,497  Commercial real estate 4,106  3,905  -  8,011  546,022  554,033  1,561  555,594  Construction and land development 2,343  129  -  2,472  74,083  76,555  653  77,208  Multifamily 450  1,303  -  1,753  181,453  183,206  696  183,902  Commercial business 1,214  47  -  1,261  96,604  97,865  1,439  99,304  Consumer -  -  -  -  870  870  -  870  Manufactured homes 241  28  -  269  23,368  23,637  71  23,708  Government -  -  -  -  12,298  12,298  -  12,298  Total $ 13,669  $ 6,964  $ -  $ 20,633  $ 1,417,029  $ 1,437,662  $ 11,162  $ 1,448,824  December 31, 2024 Residential real estate $ 4,423  $ 1,184  $ -  $ 5,607  $ 457,021  $ 462,628  $ 4,665  $ 467,293  Home equity 1,002  123  -  1,125  48,150  49,275  483  49,758  Commercial real estate 4,556  571  -  5,127  545,267  550,394  1,280  551,674  Construction and land development 2,039  -  -  2,039  80,177  82,216  658  82,874  Multifamily 1,961  359  -  2,320  206,773  209,093  3,362  212,455  Commercial business 493  508  -  1,001  99,955  100,956  3,290  104,246  Consumer 5  -  -  5  546  551  -  551  Manufactured homes 428  54  -  482  26,226  26,708  -  26,708  Government -  -  -  -  11,024  11,024  -  11,024  Total $ 14,907  $ 2,799  $ -  $ 17,706  $ 1,475,139  $ 1,492,845  $ 13,738  $ 1,506,583
Schedule of Financing Receivable Credit Quality Indicators	The following table shows the amortized cost of loans, segregated by portfolio segment, credit quality rating and year of origination as of December 31, 2025, and December 31, 2024, and gross charge-offs for the year ended December 31, 2025, and for the year ended December 31, 2024. December 31, 2025 2025 2024 2023 2022 2021 Prior Revolving Revolving Converted to Term Total Total Loans Receivable $ 132,738  $ 125,371  $ 125,504  $ 257,065  $ 260,859  $ 438,852  $ 106,883  $ 1,552  $ 1,448,824  Total current period gross charge-off $ (202) $ -  $ (44) $ -  $ (13) $ (496) $ -  $ -  $ (755) Residential real estate Pass (1-6) $ 12,570  $ 19,139  $ 26,559  $ 80,834  $ 93,636  $ 196,415  $ 2,477  $ -  $ 431,630  Special Mention (7) -  -  619  1,464  1,063  1,651  -  -  4,797  Substandard (8) 296  74  887  1,475  430  2,854  -  -  6,016  Total $ 12,866  $ 19,213  $ 28,065  $ 83,773  $ 95,129  $ 200,920  $ 2,477  $ -  $ 442,443  Current period gross charge-off -  -  -  -  (13) -  -  -  (13) Home equity Pass (1-6) $ 766  $ 92  $ 41  $ 232  $ 49  $ 2,086  $ 47,926  $ 1,187  $ 52,379  Special Mention (7) -  -  7  -  -  59  45  194  305  Substandard (8) -  24  -  -  20  181  417  171  813  Total $ 766  $ 116  $ 48  $ 232  $ 69  $ 2,326  $ 48,388  $ 1,552  $ 53,497  Current period gross charge-off -  -  -  -  -  -  -  -  -  Commercial real estate Pass (1-6) $ 58,029  $ 65,768  $ 62,929  $ 111,515  $ 78,531  $ 160,344  $ 3,717  $ -  $ 540,833  Special Mention (7) 25  410  2,214  2,865  3,403  4,283  -  -  13,200  Substandard (8) -  -  208  221  -  1,132  -  -  1,561  Total $ 58,054  $ 66,178  $ 65,351  $ 114,601  $ 81,934  $ 165,759  $ 3,717  $ -  $ 555,594  Current period gross charge-off -  -  -  -  -  -  -  -  -  Construction and land development Pass (1-6) $ 36,388  $ 19,226  $ 12,795  $ 2,288  $ 1,074  $ 753  $ 1,893  $ -  $ 74,417  Special Mention (7) -  -  -  129  428  -  -  -  557  Substandard (8) -  -  939  60  1,235  -  -  -  2,234  Total $ 36,388  $ 19,226  $ 13,734  $ 2,477  $ 2,737  $ 753  $ 1,893  $ -  $ 77,208  Current period gross charge-off -  -  -  -  -  -  -  -  -  Multifamily Pass (1-6) $ 12,249  $ 6,289  $ 11,215  $ 44,804  $ 64,357  $ 40,791  $ 644  $ -  $ 180,349  Special Mention (7) -  -  -  756  374  1,727  -  -  2,857  Substandard (8) -  -  200  409  -  87  -  -  696  Total $ 12,249  $ 6,289  $ 11,415  $ 45,969  $ 64,731  $ 42,605  $ 644  $ -  $ 183,902  Current period gross charge-off -  -  -  -  -  (201) -  -  (201) Commercial business Pass (1-6) $ 6,601  $ 11,813  $ 5,661  $ 7,121  $ 4,595  $ 10,980  $ 48,326  $ -  $ 95,097  Special Mention (7) 299  61  260  62  18  737  1,331  -  2,768  Substandard (8) -  87  898  34  124  189  107  -  1,439  Total $ 6,900  $ 11,961  $ 6,819  $ 7,217  $ 4,737  $ 11,906  $ 49,764  $ -  $ 99,304  Current period gross charge-off (158) -  (44) -  -  (293) -  -  (495) Consumer Pass (1-6) $ 705  $ 58  $ 72  $ 19  $ 16  $ -  $ -  $ -  $ 870  Total $ 705  $ 58  $ 72  $ 19  $ 16  $ -  $ -  $ -  $ 870  Current period gross charge-off (44) -  -  -  -  (2) -  -  (46) Manufactured homes Pass (1-6) $ -  $ -  $ -  $ 1,733  $ 10,383  $ 11,493  $ -  $ -  $ 23,609  Special Mention (7) -  -  -  -  -  28  -  -  $ 28  Substandard (8) -  -  -  -  46  25  -  -  71  Total $ -  $ -  $ -  $ 1,733  $ 10,429  $ 11,546  $ -  $ -  $ 23,708  Current period gross charge-off -  -  -  -  -  -  -  -  -  Government Pass (1-6) $ 4,810  $ 2,330  $ -  $ 1,044  $ 1,077  $ 3,037  $ -  $ -  $ 12,298  Total $ 4,810  $ 2,330  $ -  $ 1,044  $ 1,077  $ 3,037  $ -  $ -  $ 12,298  Current period gross charge-off -  -  -  -  -  -  -  -  -  December 31, 2024 2024 2023 2022 2021 2020 Prior Revolving Revolving Converted to Term Total Total Loans Receivable $ 124,670  $ 143,098  $ 291,855  $ 308,352  $ 211,268  $ 324,738  $ 102,602  $ -  $ 1,506,583  Total current period gross charge-off $ (64) $ -  $ (1,010) $ (125) $ (2) $ (1,267) $ -  $ -  (2,468) Residential real estate Pass (1-6) $ 13,118  $ 30,947  $ 90,324  $ 99,390  $ 102,552  $ 119,449  $ 2,468  $ -  $ 458,248  Special Mention (7) -  371  365  1,064  554  1,937  -  -  4,291  Substandard (8) -  539  1,161  601  510  1,943  -  -  4,754  Total $ 13,118  $ 31,857  $ 91,850  $ 101,055  $ 103,616  $ 123,329  $ 2,468  $ -  $ 467,293  Current period gross charge-off -  -  -  -  -  (28) -  -  (28) Home equity Pass (1-6) $ 193  $ 68  $ 153  $ 110  $ -  $ 3,342  $ 44,943  $ -  $ 48,809  Special Mention (7) -  132  -  -  3  15  309  -  459  Substandard (8) 26  -  138  -  -  218  108  -  490  Total $ 219  $ 200  $ 291  $ 110  $ 3  $ 3,575  $ 45,360  $ -  $ 49,758  Current period gross charge-off -  -  -  -  -  -  -  -  -  Commercial real estate Pass (1-6) $ 49,861  $ 67,290  $ 123,342  $ 96,206  $ 53,864  $ 148,529  $ 2,976  $ -  $ 542,068  Special Mention (7) 974  -  1,036  2,375  668  2,930  25  -  8,008  Substandard (8) -  -  -  -  202  1,396  -  -  1,598  Total $ 50,835  $ 67,290  $ 124,378  $ 98,581  $ 54,734  $ 152,855  $ 3,001  $ -  $ 551,674  Current period gross charge-off -  -  -  -  -  -  -  -  -  Construction and land development Pass (1-6) $ 34,599  $ 24,360  $ 3,732  $ 7,867  $ 224  $ 820  $ 5,312  $ -  $ 76,914  Special Mention (7) -  -  -  1,207  2,468  -  -  -  3,675  Substandard (8) -  1,018  -  1,267  -  -  -  -  2,285  Total $ 34,599  $ 25,378  $ 3,732  $ 10,341  $ 2,692  $ 820  $ 5,312  $ -  $ 82,874  Current period gross charge-off -  -  -  -  -  -  -  -  -  Multifamily Pass (1-6) $ 6,398  $ 8,923  $ 56,771  $ 74,716  $ 36,075  $ 20,066  $ 627  $ -  $ 203,576  Special Mention (7) -  -  780  3,332  1,217  -  -  -  5,329  Substandard (8) -  -  446  1,219  1,516  369  -  -  3,550  Total $ 6,398  $ 8,923  $ 57,997  $ 79,267  $ 38,808  $ 20,435  $ 627  $ -  $ 212,455  Current period gross charge-off -  -  -  (125) -  -  -  -  (125) Commercial business Pass (1-6) $ 14,655  $ 8,123  $ 9,441  $ 6,094  $ 3,653  $ 11,416  $ 44,046  $ -  $ 97,428  Special Mention (7) -  25  978  39  -  800  1,686  -  3,528  Substandard (8) -  1,139  80  171  177  1,621  102  -  3,290  Total $ 14,655  $ 9,287  $ 10,499  $ 6,304  $ 3,830  $ 13,837  $ 45,834  $ -  $ 104,246  Current period gross charge-off -  -  (1,010) -  -  (1,239) -  -  (2,249) Consumer Pass (1-6) $ 301  $ 163  $ 34  $ 51  $ -  $ 2  $ -  $ -  $ 551  Substandard (8) -  -  -  -  -  -  -  -  -  Total $ 301  $ 163  $ 34  $ 51  $ -  $ 2  $ -  $ -  $ 551  Current period gross charge-off (64) -  -  -  (2) -  -  -  (66) Manufactured homes Pass (1-6) $ -  $ -  $ 1,634  $ 11,360  $ 7,559  $ 6,101  $ -  $ -  $ 26,654  Substandard (8) -  -  -  28  26  -  -  -  54  Total $ -  $ -  $ 1,634  $ 11,388  $ 7,585  $ 6,101  $ -  $ -  $ 26,708  Current period gross charge-off -  -  -  -  -  -  -  -  -  Government Pass (1-6) $ 4,545  $ -  $ 1,440  $ 1,255  $ -  $ 3,784  $ -  $ -  $ 11,024  Total $ 4,545  $ -  $ 1,440  $ 1,255  $ -  $ 3,784  $ -  $ -  $ 11,024  Current period gross charge-off -  -  -  -  -  -  -  -  -
Schedule of Financing Receivable, Modified	The following tables show the amortized cost basis of loans at December 31, 2025 and December 31, 2024, that were both experiencing financial difficulty and modified during the years ended December 31, 2025 and December 31, 2024, segregated by portfolio segment and type of modification. The percentage of the amortized cost of loans that were modified to borrowers in financial distress as compared to the amortized cost of each segment of financing receivable is also presented below. For the year ended December 31, 2025 (Dollars in thousands) Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Interest Rate Reduction % of Total Segment Financing Receivables Residential real estate $ -  $ 601  $ -  $ -  0.14 % Commercial real estate 131  390  -  -  0.09 % Construction and land development 593  -  -  -  0.77 % Commercial business 945  -  -  -  0.95 % Total $ 1,669  $ 991  $ -  $ -  0.18 % For the year ended December 31, 2024 (Dollars in thousands) Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Interest Rate Reduction % of Total Segment Financing Receivables Residential real estate $ 528  $ 1,115  $ -  $ -  0.35 % Home Equity 41  -  -  -  0.01 % Total $ 569  $ 1,115  $ -  $ -  0.11 % The financial effects of payment delay modifications and term extension modifications had a forbearance average of five months and one hundred eighty-six months weighted average extension to life of loan, respectively. There were no commitments to lend additional amounts to the borrowers included in the previous tables. The borrowers with term extension have had their maturity dates extended and as a result their monthly payments were reduced or had payments added to the end of the loan which resulted in payment relief. For the year ended December 31, 2025 (Dollars in thousands) Principal Forgiveness Weighted average interest rate reduction Weighted average term extension (months) Payment delay (months) Residential real estate $ -  —  % 6 - Commercial real estate $ -  —  % 180 5 Construction and land development $ -  —  % - 5 Commercial business $ -  —  % - 5 For the year ended December 31, 2024 (Dollars in thousands) Principal Forgiveness Weighted average interest rate reduction Weighted average term extension (months) Payment delay (months) Residential real estate $ -  —  % 7 6 The Company closely monitors the performance of loans that have been modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following tables present the performance of such loans in the twelve months following modification. December 31, 2025 (Dollars in thousands) Current 30-59 Days Past Due 60-89 Days  Past Due Greater Than 90 Days Past Due Residential real estate $ 582  $ 19  $ -  $ -  Commercial real estate 390  -  -  131  Construction and land development -  -  -  593  Commercial business -  -  -  945  Total $ 972  $ 19  $ -  $ 1,669  December 31, 2024 (Dollars in thousands) Current 30-59 Days Past Due 60-89 Days  Past Due Greater Than 90 Days Past Due Residential real estate $ 545  $ 570  $ -  $ 528  Home equity -  -  -  41  Total $ 545  $ 570  $ -  $ 569
Schedule of Accretable Yield from Financing Receivables	Accretable yield, or income recorded for the year ended December 31, is as follows: (Dollars in thousands) Total 2024 $ 799  2025 837  Accretable yield, or income expected to be recorded in the future is as follows: (Dollars in thousands) Total 2026 438  2027 294  2028 277  2029 243  2030 and thereafter 2,275  Total $ 3,527
Schedule of Financing Receivable, Allowance for Credit Loss	The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the year ended December 31, 2025: (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Allowance for credit losses: Residential real estate $ 4,481  $ (13) $ 66  $ (1,777) $ 2,757  Home equity 835  -  -  (147) 688  Commercial real estate 6,444  -  4  2,704  9,152  Construction and land development 2,651  -  -  (1,537) 1,114  Multifamily 1,003  (201) 29  1,247  2,078  Commercial business 1,185  (495) 460  433  1,583  Consumer 5  (46) 9  34  2  Manufactured homes 252  -  -  (136) 116  Government 55  -  -  (39) 16  Total $ 16,911  $ (755) $ 568  $ 782  $ 17,506  The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the year ended December 31, 2024: (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Allowance for credit losses: Residential real estate $ 3,984  $ (28) $ 44  $ 481  $ 4,481  Home equity 698  -  -  137  835  Commercial real estate 7,045  -  5  (606) 6,444  Construction and land development 4,206  -  -  (1,555) 2,651  Multifamily 933  (125) 31  164  1,003  Commercial business 1,649  (2,249) 310  1,475  1,185  Consumer 7  (66) 22  42  5  Manufactured homes 181  -  -  71  252  Government 65  -  -  (10) 55  Total $ 18,768  $ (2,468) $ 412  $ 199  $ 16,911
Schedule of Collateral Dependent Loans	The table below presents the amortized cost basis of collateral dependent loans and the related allowance for credit losses in accordance with ASC 326.. (Dollars in thousands) December 31, 2025 Real Estate Equipment/Inventory Accounts Receivable Vehicles Total ACL Allocation Residential real estate $ 2,185  $ -  $ -  $ -  $ 2,185  $ 39  Home equity 4  -  -  -  4  -  Commercial real estate 1,561  -  -  -  1,561  86  Construction and land development 2,234  -  -  -  2,234  -  Multifamily 696  -  -  -  696  -  Commercial business -  1,267  130  42  1,439  138  Total $ 6,680  $ 1,267  $ 130  $ 42  $ 8,119  $ 263  (Dollars in thousands) December 31, 2024 Real Estate Equipment/Inventory Accounts Receivable Vehicles Total ACL Allocation Residential real estate $ 3,012  $ -  $ -  $ -  $ 3,012  $ 50  Home equity 219  -  -  -  219  -  Commercial real estate 1,598  -  -  -  1,598  43  Construction and land development 2,285  -  -  -  2,285  -  Multifamily 3,550  -  -  -  3,550  -  Commercial business 712  1,399  1,428  144  3,683  191  Total $ 11,376  $ 1,399  $ 1,428  $ 144  $ 14,347  $ 284
Schedule of Financing Receivable, Nonaccrual	The following table presents nonaccrual loans and loans past due over 90 days still on accrual by class of loans: As of December 31, 2025 Nonaccrual with No Allowance for Credit Loss Nonaccrual with Allowance for Credit Loss Nonaccrual Loans in Total Loans Past Due over 90 Days Still Accruing Residential real estate $ 1,873  $ 4,059  $ 5,932  $ -  Home equity -  810  810  -  Commercial real estate 1,158  403  1,561  -  Construction and land development 653  -  653  -  Multifamily 696  -  696  -  Commercial business 391  1,048  1,439  -  Manufactured homes -  71  71  -  Total $ 4,771  $ 6,391  $ 11,162  $ -  As of December 31, 2024 Nonaccrual with No Allowance for Credit Loss Nonaccrual with Allowance for Credit Loss Nonaccrual Loans in Total Loans Past Due over 90 Days Still Accruing Residential real estate $ 1,514  $ 3,150  $ 4,664  $ -  Home equity 179  304  483  -  Commercial real estate 1,078  202  1,280  -  Construction and land development 659  -  659  -  Multifamily 3,362  -  3,362  -  Commercial business 3,099  191  3,290  -  Total $ 9,891  $ 3,847  $ 13,738  $ -
Schedule of Changes in Liability for Credit Loss on Unfunded Commitments	The following table shows the changes in the liability for credit losses on unfunded loan commitments. (Dollars in thousands) Year ended, December 31, 2025 Year ended, December 31, 2024 Balance, beginning of period $ 2,739  $ 3,441  Provision for (benefit from) unfunded loan commitments (987) (702) Balance, end of period $ 1,752  $ 2,739