Loans Receivable (Tables)

v3.26.1

Loans Receivable (Tables)	6 Months Ended
	Jun. 30, 2026
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	Loans consist of the following as of June 30, 2026, and December 31, 2025: (Dollars in thousands) June 30, 2026 December 31, 2025 Loans secured by real estate: Residential real estate $ 455,882  $ 442,443  Home equity 55,601  53,497  Commercial real estate 597,364  555,594  Construction and land development 77,710  77,208  Multifamily 180,148  183,902  Total loans secured by real estate 1,366,705  1,312,644  Commercial business 103,281  99,304  Consumer 2,036  870  Manufactured homes 22,050  23,708  Government 9,818  12,298  Loans receivable 1,503,890  1,448,824  Add: Net deferred loan origination costs 1,006  1,606  Loan clearing funds (1,103) (43) Loans receivable, net of deferred fees and costs $ 1,503,793  $ 1,450,387
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 June 30, 2026 Residential real estate $ 4,905  $ 1,844  $ -  $ 6,749  $ 440,937  $ 447,686  $ 8,196  $ 455,882  Home equity 631  145  -  776  54,115  54,891  710  55,601  Commercial real estate 1,920  1,200  -  3,120  590,255  593,375  3,989  597,364  Construction and land development -  -  -  -  77,117  77,117  593  77,710  Multifamily -  1,343  -  1,343  177,045  178,388  1,760  180,148  Commercial business 836  15  -  851  101,140  101,991  1,290  103,281  Consumer -  -  -  -  2,036  2,036  -  2,036  Manufactured homes 325  -  -  325  21,714  22,039  11  22,050  Government -  -  -  -  9,818  9,818  -  9,818  Total $ 8,617  $ 4,547  $ -  $ 13,164  $ 1,474,177  $ 1,487,341  $ 16,549  $ 1,503,890  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
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 June 30, 2026, and December 31, 2025, and gross charge-offs for the six months ended June 30, 2026, and for the year ended December 31, 2025. June 30, 2026 2026 2025 2024 2023 2022 Prior Revolving Revolving Converted to Term Total Total Loans Receivable $ 198,920  $ 194,185  $ 125,149  $ 134,153  $ 259,781  $ 591,702  $ -  $ -  $ 1,503,890  Total current period gross charge-off $ -  $ (5) $ (43) $ -  $ -  $ (25) $ -  $ -  $ (73) Residential real estate Pass (1-6) $ 33,903  $ 20,020  $ 19,174  $ 25,302  $ 76,569  $ 266,626  $ -  $ -  $ 441,594  Special Mention (7) 306  204  -  415  2,278  2,889  -  -  6,092  Substandard (8) -  286  72  900  3,383  3,555  -  -  8,196  Total $ 34,209  $ 20,510  $ 19,246  $ 26,617  $ 82,230  $ 273,070  $ -  $ -  $ 455,882  Current period gross charge-off -  (5) -  -  -  -  -  -  (5) Home equity Pass (1-6) $ 8,688  $ 10,710  $ 7,131  $ 6,662  $ 9,563  $ 11,725  $ -  $ -  $ 54,479  Special Mention (7) -  -  -  72  92  248  -  -  412  Substandard (8) -  -  20  275  40  375  -  -  710  Total $ 8,688  $ 10,710  $ 7,151  $ 7,009  $ 9,695  $ 12,348  $ -  $ -  $ 55,601  Current period gross charge-off -  -  -  -  -  -  -  -  -  Commercial real estate Pass (1-6) $ 79,519  $ 72,398  $ 68,174  $ 69,614  $ 106,223  $ 182,174  $ -  $ -  $ 578,102  Special Mention (7) 365  657  1,439  3,328  3,066  4,803  -  -  13,658  Substandard (8) -  130  1,191  194  1,012  3,077  -  -  5,604  Total $ 79,884  $ 73,185  $ 70,804  $ 73,136  $ 110,301  $ 190,054  $ -  $ -  $ 597,364  Current period gross charge-off -  -  -  -  -  -  -  -  -  Construction and land development Pass (1-6) $ 31,114  $ 32,453  $ 7,527  $ 3,595  $ 278  $ 121  $ -  $ -  $ 75,088  Special Mention (7) 477  -  -  -  -  -  -  -  477  Substandard (8) -  -  -  925  -  1,220  -  -  2,145  Total $ 31,591  $ 32,453  $ 7,527  $ 4,520  $ 278  $ 1,341  $ -  $ -  $ 77,710  Current period gross charge-off -  -  -  -  -  -  -  -  -  Multifamily Pass (1-6) $ 13,120  $ 14,698  $ 6,275  $ 12,225  $ 43,801  $ 84,881  $ -  $ -  $ 175,000  Special Mention (7) 2,139  -  -  -  -  1,249  -  -  3,388  Substandard (8) 420  -  -  194  1,146  -  -  -  1,760  Total $ 15,679  $ 14,698  $ 6,275  $ 12,419  $ 44,947  $ 86,130  $ -  $ -  $ 180,148  Current period gross charge-off -  -  -  -  -  -  -  -  -  Commercial business Pass (1-6) $ 26,902  $ 36,838  $ 12,400  $ 8,492  $ 9,111  $ 4,625  $ -  $ -  $ 98,368  Special Mention (7) 96  838  320  921  720  199  -  -  3,094  Substandard (8) -  475  130  972  79  163  -  -  1,819  Total $ 26,998  $ 38,151  $ 12,850  $ 10,385  $ 9,910  $ 4,987  $ -  $ -  $ 103,281  Current period gross charge-off -  -  (43) -  -  -  -  -  (43) Consumer Pass (1-6) $ 1,871  $ 53  $ 43  $ 48  $ 12  $ 9  $ -  $ -  $ 2,036  Total $ 1,871  $ 53  $ 43  $ 48  $ 12  $ 9  $ -  $ -  $ 2,036  Current period gross charge-off -  -  -  -  -  (25) -  -  (25) Manufactured homes Pass (1-6) $ -  $ 95  $ 73  $ 19  $ 1,564  $ 20,288  $ -  $ -  $ 22,039  Special Mention (7) -  -  -  -  -  11  -  -  $ 11  Total $ -  $ 95  $ 73  $ 19  $ 1,564  $ 20,299  $ -  $ -  $ 22,050  Current period gross charge-off -  -  -  -  -  -  -  -  -  Government Pass (1-6) $ -  $ 4,330  $ 1,180  $ -  $ 844  $ 3,464  $ -  $ -  $ 9,818  Total $ -  $ 4,330  $ 1,180  $ -  $ 844  $ 3,464  $ -  $ -  $ 9,818  Current period gross charge-off -  -  -  -  -  -  -  -  -  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  Substandard (8) -  -  -  -  -  -  -  -  -  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 -  -  -  -  -  -  -  -  -
Schedule of Financing Receivable, Modified	The following table shows the amortized cost basis of loans at June 30, 2026 and June 30, 2025, that were both experiencing financial difficulty and modified during the three and six months ended June 30, 2026 and June 30, 2025, 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. Three Months Ended June 30, 2026 (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 $ 783  $ 117  $ -  $ -  0.20 % Home equity 32  -  -  -  0.06 % Total $ 815  $ 117  $ -  $ -  0.06 % Three Months Ended June 30, 2025 (Dollars in thousands) Payment Delay Term Extension Interest Rate Reduction Combination Term Extension and Interest Rate Reduction % of Total Segment Financing Receivables Commercial business $ 1,851  $ -  $ -  $ -  1.75 % Six Months Ended June 30, 2026 (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 $ 1,453  $ 1,512  $ -  $ -  0.65 % Home equity 32  -  -  -  0.06 % Total $ 1,485  $ 1,512  $ -  $ -  0.20 % Six Months Ended June 30, 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 $ -  $ 168  $ -  $ -  0.04 % Commercial business $ 1,851  $ -  $ -  $ -  1.75 % Total $ 1,851  $ 168  $ -  $ -  0.14 % There were no commitments to lend additional amounts to the borrowers included in the previous tables. The borrowers with term extensions either had payments deferred to the end of the loan term, providing payment relief, or had contractual maturity dates extended, resulting in a reduction in monthly payments. Three Months Ended June 30, 2026 (Dollars in thousands) Principal Forgiveness Weighted average interest rate reduction Weighted average term extension (months) Average Payment delay (months) Residential real estate $ -  —  % 11 5 Home equity $ -  —  % 0 3 Three Months Ended June 30, 2025 (Dollars in thousands) Principal Forgiveness Weighted average interest rate reduction Weighted average term extension (months) Average Payment delay (months) Commercial business $ -  —  % 0 5 For the six months ended June 30, 2026 (Dollars in thousands) Principal Forgiveness Weighted average interest rate reduction Weighted average term extension (months) Average Payment delay (months) Residential real estate $ -  —  % 4 6 Home equity $ -  —  % 0 3 For the six months ended June 30, 2025 (Dollars in thousands) Principal Forgiveness Weighted average interest rate reduction Weighted average term extension (months) Payment delay (months) Residential real estate $ -  —  % 6 0 Commercial business $ -  —  % 0 5 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. June 30, 2026 (Dollars in thousands) Current 30-59 Days Past Due 60-89 Days  Past Due Greater Than 90 Days Past Due Residential real estate $ 816  $ -  $ 1,139  $ 1,453  Home equity -  -  -  32  Commercial real estate 386  -  -  -  Total $ 1,202  $ -  $ 1,139  $ 1,485  June 30, 2025 (Dollars in thousands) Current 30-59 Days Past Due 60-89 Days Past Due Greater Than 90 Days Past Due Residential real estate $ 197  $ 53  $ 461  $ 316  Home equity 33  -  -  -  Commercial business 4  -  -  1,847  Total $ 234  $ 53  $ 461  $ 2,163
Schedule of Accretable Yield from Financing Receivables	Accretable yield, or income recorded for the six months ended June 30, is as follows: (Dollars in thousands) Total 2025 $ 439  2026 334  Accretable yield, or income expected to be recorded in the future is as follows: (Dollars in thousands) Total Remainder of 2026 $ 185  2027 287  2028 273  2029 240  2030 233  2031 and thereafter 1,957  Total $ 3,175
Schedule of Financing Receivable, Allowance for Credit Loss	The following tables show the changes in the allowance for credit losses, segregated by portfolio segment, for the three and six months ended June 30, 2026, and 2025. The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the three months ended June 30, 2026: (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Allowance for credit losses: Residential real estate $ 3,036  $ -  $ 49  $ 131  $ 3,216  Home equity 682  -  -  54  736  Commercial real estate 8,630  -  -  230  8,860  Construction and land development 1,661  -  -  (38) 1,623  Multifamily 2,081  -  -  (108) 1,973  Commercial business 1,065  (43) 35  107  1,164  Consumer 1  (11) 1  11  2  Manufactured homes 125  -  -  (9) 116  Government 4  -  -  -  4  Total $ 17,285  $ (54) $ 85  $ 378  $ 17,694  The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the three months ended June 30, 2025: (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Allowance for credit losses: Residential real estate $ 2,442  $ -  $ 19  $ 294  $ 2,755  Home equity 622  -  -  116  738  Commercial real estate 9,657  -  -  (507) 9,150  Construction and land development 1,644  -  -  (149) 1,495  Multifamily 2,192  -  -  109  2,301  Commercial business 1,234  -  404  (35) 1,603  Consumer 3  (10) 1  8  2  Manufactured homes 129  -  -  (4) 125  Government 32  -  -  (17) 15  Total $ 17,955  $ (10) $ 424  $ (185) $ 18,184  The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the six months ended June 30, 2026: (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Allowance for credit losses: Residential real estate $ 2,757  $ (5) $ 70  $ 394  $ 3,216  Home equity 688  -  -  48  736  Commercial real estate 9,152  -  -  (292) 8,860  Construction and land development 1,114  -  -  509  1,623  Multifamily 2,078  -  -  (105) 1,973  Commercial business 1,583  (43) 35  (411) 1,164  Consumer 2  (25) 2  23  2  Manufactured homes 116  -  -  -  116  Government 16  -  -  (12) 4  Total $ 17,506  $ (73) $ 107  $ 154  $ 17,694  The Company's activity in the allowance for credit losses, by loan segment, is summarized below for the six months ended June 30, 2025: (Dollars in thousands) Beginning Balance Charge-offs Recoveries Provisions Ending Balance Allowance for credit losses: Residential real estate $ 4,481  $ -  $ 35  $ (1,761) $ 2,755  Home equity 835  -  -  (97) 738  Commercial real estate 6,444  -  4  2,702  9,150  Construction and land development 2,651  -  -  (1,156) 1,495  Multifamily 1,003  (46) 10  1,334  2,301  Commercial business 1,185  (61) 460  19  1,603  Consumer 5  (21) 1  17  2  Manufactured homes 252  -  -  (127) 125  Government 55  -  -  (40) 15  Total $ 16,911  $ (128) $ 510  $ 891  $ 18,184
Schedule of Collateral Dependent Loans	The table below presents the amortized cost basis of collateral dependent loans, including loans evaluated individually and collectively, and the related ACL allocation recognized on individually evaluated loans, where applicable, in accordance with ASC 326. (Dollars in thousands) June 30, 2026 Real Estate Equipment/Inventory Accounts Receivable Vehicles Total ACL-Individual Evaluation Residential real estate $ 8,196  $ -  $ -  $ -  $ 8,196  $ -  Home equity 710  -  -  -  710  -  Commercial real estate 3,989  -  -  -  3,989  90  Construction and land development 593  -  -  -  593  -  Multifamily 1,760  -  -  -  1,760  -  Commercial business -  1,161  103  26  1,290  57  Manufactured homes 11  -  -  -  11  -  Total $ 15,259  $ 1,161  $ 103  $ 26  $ 16,549  $ 147  (Dollars in thousands) December 31, 2025 Real Estate Equipment/Inventory Accounts Receivable Vehicles Total ACL-Individual Evaluation 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
Schedule of Financing Receivable, Nonaccrual	The following table presents non–accrual loans and loans past due over 90 days still on accrual by class of loans: As of June 30, 2026 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 $ 559  $ 7,637  $ 8,196  $ -  Home equity -  710  710  -  Commercial real estate 3,989  -  3,989  -  Construction and land development 593  -  593  -  Multifamily 1,760  -  1,760  -  Commercial business 1,290  -  1,290  -  Manufactured homes -  11  11  -  Total $ 8,191  $ 8,358  $ 16,549  $ -  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  $ -
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) Three months ended, June 30, 2026 Three months ended, June 30, 2025 Balance, beginning of period $ 2,031  $ 2,116  Provision for (benefit from) unfunded loan commitments (114) (89) Balance, end of period $ 1,917  $ 2,027  (Dollars in thousands) Six months ended, June 30, 2026 Six months ended, June 30, 2025 Balance, beginning of period $ 1,752  $ 2,739  Provision for (benefit from) unfunded loan commitments 165  (712) Balance, end of period $ 1,917  $ 2,027