Loans and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2021

Receivables [Abstract]

Schedule of Financing Receivables

(Dollars in thousands)	March 31, 2021		December 31, 2020
Construction	$	115,971	$	106,760
Residential real estate		449,651		443,542
Commercial real estate		641,155		661,232
Commercial		218,923		211,256
Consumer		35,822		31,466
Total loans		1,461,522		1,454,256
Allowance for credit losses		(14,313)		(13,888)
Total loans, net	$	1,447,209	$	1,440,368

Allowance for Credit Losses on Financing Receivables

			Residential		Commercial
(Dollars in thousands)	Construction		real estate		real estate		Commercial		Consumer		Total
March 31, 2021
Loans individually evaluated for impairment	$	329	$	5,281	$	6,638	$	248	$	28	$	12,524
Loans collectively evaluated for impairment		115,642		444,370		634,517		218,675		35,794		1,448,998
Total loans	$	115,971	$	449,651	$	641,155	$	218,923	$	35,822	$	1,461,522
Allowance for credit losses allocated to:
Loans individually evaluated for impairment	$	—	$	95	$	—	$	—	$	—	$	95
Loans collectively evaluated for impairment		2,796		3,604		5,097		2,000		721		14,218
Total allowance	$	2,796	$	3,699	$	5,097	$	2,000	$	721	$	14,313

			Residential		Commercial
(Dollars in thousands)	Construction		real estate		real estate		Commercial		Consumer		Total
December 31, 2020
Loans individually evaluated for impairment	$	331	$	5,722	$	6,917	$	258	$	28	$	13,256
Loans collectively evaluated for impairment		106,429		437,820		654,315		210,998		31,438		1,441,000
Total loans	$	106,760	$	443,542	$	661,232	$	211,256	$	31,466	$	1,454,256
Allowance for credit losses allocated to:
Loans individually evaluated for impairment	$	—	$	135	$	78	$	—	$	—	$	213
Loans collectively evaluated for impairment		2,022		3,564		5,348		2,089		652		13,675
Total allowance	$	2,022	$	3,699	$	5,426	$	2,089	$	652	$	13,888

Impaired Financing Receivables

			Recorded		Recorded
	Unpaid		investment		investment				Quarter-to-date		Interest
	principal		with no		with an		Related		average recorded		recorded
(Dollars in thousands)	balance		allowance		allowance		allowance		investment		investment
March 31, 2021
Impaired nonaccrual loans:
Construction	$	297	$	297	$	—	$	—	$	297	$	—
Residential real estate		1,309		1,222		—		—		1,411		—
Commercial real estate		4,085		3,085		—		—		3,012		—
Commercial		396		248		—		—		251		—
Consumer		28		28		—		—		28		—
Total	$	6,115	$	4,880	$	—	$	—	$	4,999	$	—
Impaired accruing TDRs:
Construction	$	32	$	32	$	—	$	—	$	33	$	—
Residential real estate		3,381		2,250		1,131		95		3,530		40
Commercial real estate		3,043		3,043		—		—		3,065		23
Commercial		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total	$	6,456	$	5,325	$	1,131	$	95	$	6,628	$	63
Other impaired accruing loans:
Construction	$	—	$	—	$	—	$	—	$	—	$	—
Residential real estate		678		678		—		—		853		5
Commercial real estate		510		510		—		—		510		1
Commercial		—		—		—		—		50		—
Consumer		—		—		—		—		—		—
Total	$	1,188	$	1,188	$	—	$	—	$	1,413	$	6
Total impaired loans:
Construction	$	329	$	329	$	—	$	—	$	330	$	—
Residential real estate		5,368		4,150		1,131		95		5,794		45
Commercial real estate		7,638		6,638		—		—		6,587		24
Commercial		396		248		—		—		301		—
Consumer		28		28		—		—		28		—
Total	$	13,759	$	11,393	$	1,131	$	95	$	13,040	$	69

			Recorded		Recorded				March 31, 2020
	Unpaid		investment		investment				Quarter-to-date		Interest
	principal		with no		with an		Related		average recorded		income
(Dollars in thousands)	balance		allowance		allowance		allowance		investment		recognized
December 31, 2020
Impaired nonaccrual loans:
Construction	$	297	$	297	$	—	$	—	$	99	$	—
Residential real estate		1,665		1,585		—		—		2,871		—
Commercial real estate		4,288		3,220		67		67		7,352		—
Commercial		401		258		—		—		382		—
Consumer		28		28		—		—		—		—
Total	$	6,679	$	5,388	$	67	$	67	$	10,704	$	—
Impaired accruing TDRs:
Construction	$	34	$	34	$	—	$	—	$	39	$	1
Residential real estate		3,845		2,617		1,228		135		4,023		38
Commercial real estate		3,118		2,479		639		11		3,406		24
Commercial		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total	$	6,997	$	5,130	$	1,867	$	146	$	7,468	$	63
Other impaired accruing loans:
Construction	$	—	$	—	$	—	$	—	$	—	$	—
Residential real estate		292		292		—		—		—		—
Commercial real estate		512		512		—		—		—		—
Commercial		—		—		—		—		—		—
Consumer		—		—		—		—		—		—
Total	$	804	$	804	$	—	$	—	$	—	$	—
Total impaired loans:
Construction	$	331	$	331	$	—	$	—	$	138	$	1
Residential real estate		5,802		4,494		1,228		135		6,894		38
Commercial real estate		7,918		6,211		706		78		10,758		24
Commercial		401		258		—		—		382		—
Consumer		28		28		—		—		—		—
Total	$	14,480	$	11,322	$	1,934	$	213	$	18,172	$	63

Troubled Debt Restructurings on Financing Receivables

The following tables provide a roll-forward for TDRs as of March 31, 2021 and March 31, 2020.

	1/1/2021												3/31/2021
	TDR		New		Disbursements		Charge-		Reclassifications/				TDR		Related
(Dollars in thousands)	Balance		TDRs		(Payments)		offs		Transfer In/(Out)		Payoffs		Balance		Allowance
For three months ended
March 31, 2021
Accruing TDRs
Construction	$	34	$	—	$	(2)	$	—	$	—	$	—	$	32	$	—
Residential real estate		3,845		—		(29)		—		—		(435)		3,381		95
Commercial real estate		3,118		—		(75)		—		—		—		3,043		—
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
Total	$	6,997	$	—	$	(106)	$	—	$	—	$	(435)	$	6,456	$	95
Nonaccrual TDRs
Construction	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Residential real estate		—		—		—		—		—		—		—		—
Commercial real estate		—		—		—		—		—		—		—		—
Commercial		258		—		(10)		—		—		—		248		—
Consumer		—		—		—		—		—		—		—		—
Total	$	258	$	—	$	(10)	$	—	$	—	$	—	$	248	$	—
Total	$	7,255	$	—	$	(116)	$	—	$	—	$	(435)	$	6,704	$	95

	1/1/2020												3/31/2020
	TDR		New		Disbursements		Charge-		Reclassifications/				TDR		Related
(Dollars in thousands)	Balance		TDRs		(Payments)		offs		Transfer In/(Out)		Payoffs		Balance		Allowance
For three months ended
March 31, 2020
Accruing TDRs
Construction	$	41	$	—	$	(3)	$	—	$	—	$	—	$	38	$	—
Residential real estate		4,041		—		(28)		—		—		—		4,013		174
Commercial real estate		3,419		—		(26)		—		—		—		3,393		18
Commercial		—		—		—		—		—		—		—		—
Consumer		—		—		—		—		—		—		—		—
Total	$	7,501	$	—	$	(57)	$	—	$	—	$	—	$	7,444	$	192
Nonaccrual TDRs
Construction	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—
Residential real estate		1,393		—		(26)		—		—		—		1,367		94
Commercial real estate		—		1,506		(344)		—		—		—		1,162		—
Commercial		299		—		(10)		—		—		—		289		—
Consumer		—		—		—		—		—		—		—		—
Total	$	1,692	$	1,506	$	(380)	$	—	$	—	$	—	$	2,818	$	94
Total	$	9,193	$	1,506	$	(437)	$	—	$	—	$	—	$	10,262	$	286

There were no loans modified and considered to be TDRs during the three months ended March 31, 2021 and 1 loan modified and considered to be TDR during the three months ended March 31, 2020. The following tables provide information on loans that were modified and considered to be TDRs during the three months ended March 31, 2021 and March 31, 2020.

		Premodification		Postmodification
		outstanding		outstanding
	Number of	recorded		recorded		Related
(Dollars in thousands)	contracts	investment		investment		allowance
TDRs:
For three months ended
March 31, 2021
Construction	—	$	—	$	—	$	—
Residential real estate	—		—		—		—
Commercial real estate	—		—		—		—
Commercial	—		—		—		—
Consumer	—		—		—		—
Total	—	$	—	$	—	$	—
For three months ended
March 31, 2020
Construction	—	$	—	$	—	$	—
Residential real estate	—		—		—		—
Commercial real estate	1		1,535		1,506		—
Commercial	—		—		—		—
Consumer	—		—		—		—
Total	1	$	1,535	$	1,506	$	—

Financing Receivable Credit Quality Indicators

					Special
(Dollars in thousands)	Pass/Performing		Pass/Watch		Mention		Substandard		Doubtful		Total
March 31, 2021
Construction	$	91,439	$	22,279	$	1,956	$	297	$	—	$	115,971
Residential real estate		409,929		34,871		2,900		1,951		—		449,651
Commercial real estate		490,787		139,634		1,711		9,023		—		641,155
Commercial		193,713		22,251		2,698		261		—		218,923
Consumer		35,587		205		—		30		—		35,822
Total	$	1,221,455	$	219,240	$	9,265	$	11,562	$	—	$	1,461,522

					Special
(Dollars in thousands)	Pass/Performing		Pass/Watch		Mention		Substandard		Doubtful		Total
December 31, 2020
Construction	$	81,926	$	22,547	$	1,990	$	297	$	—	$	106,760
Residential real estate		401,494		36,759		2,946		2,343		—		443,542
Commercial real estate		514,524		133,892		3,504		9,312		—		661,232
Commercial		182,166		25,870		2,948		272		—		211,256
Consumer		31,221		215		—		30		—		31,466
Total	$	1,211,331	$	219,283	$	11,388	$	12,254	$	—	$	1,454,256

Past Due Financing Receivables

	Accruing
				30‑59 days			60‑89 days			Greater than			Total
(Dollars in thousands)	Current			past due			past due			90 days			past due			Nonaccrual			Total
March 31, 2021
Construction	$	115,642		$	32		$	—		$	—		$	32		$	297		$	115,971
Residential real estate		447,208			505			38			678			1,221			1,222			449,651
Commercial real estate		637,197			363			—			510			873			3,085			641,155
Commercial		218,532			143			—			—			143			248			218,923
Consumer		35,779			15			—			—			15			28			35,822
Total	$	1,454,358		$	1,058		$	38		$	1,188		$	2,284		$	4,880		$	1,461,522
Percent of total loans		99.5	%		0.1	%		—	%		0.1	%		0.2	%		0.3	%		100.0	%

	Accruing
				30‑59 days			60‑89 days			Greater than			Total
(Dollars in thousands)	Current			past due			past due			90 days			past due			Nonaccrual			Total
December 31, 2020
Construction	$	106,463		$	—		$	—		$	—		$	—		$	297		$	106,760
Residential real estate		440,210			517			938			292			1,747			1,585			443,542
Commercial real estate		657,066			367			—			512			879			3,287			661,232
Commercial		210,704			226			68			—			294			258			211,256
Consumer		31,318			119			1			—			120			28			31,466
Total	$	1,445,761		$	1,229		$	1,007		$	804		$	3,040		$	5,455		$	1,454,256
Percent of total loans		99.3	%		0.1	%		0.1	%		0.1	%		0.3	%		0.4	%		100.0	%

Consolidated Allowance for Credit Losses on Financing Receivables

			Residential		Commercial
(Dollars in thousands)	Construction		real estate		real estate		Commercial		Consumer		Total
For three months ended
March 31, 2021
Allowance for credit losses:
Beginning Balance	$	2,022	$	3,699	$	5,426	$	2,089	$	652	$	13,888
Charge-offs		—		—		—		(61)		(4)		(65)
Recoveries		5		6		—		52		2		65
Net (charge-offs) recoveries		5		6		—		(9)		(2)		—
Provision		769		(6)		(329)		(80)		71		425
Ending Balance	$	2,796	$	3,699	$	5,097	$	2,000	$	721	$	14,313

			Residential		Commercial
(Dollars in thousands)	Construction		real estate		real estate		Commercial		Consumer		Total
For three months ended
March 31, 2020
Allowance for credit losses:
Beginning Balance	$	1,576	$	2,501	$	4,032	$	1,929	$	469	$	10,507
Charge-offs		—		(191)		(271)		(82)		(7)		(551)
Recoveries		3		3		1		63		2		72
Net (charge-offs) recoveries		3		(188)		(270)		(19)		(5)		(479)
Provision		(451)		169		203		353		76		350
Ending Balance	$	1,128	$	2,482	$	3,965	$	2,263	$	540	$	10,378