XML 24 R14.htm IDEA: XBRL DOCUMENT v3.22.2.2
Loans by Type
 9 Months Ended
Sep. 30, 2022
Receivables [Abstract]  
Loans by Type Loans by Type
A summary of loans is as follows:
(In thousands)September 30,
2022		December 31,
2021
Commercial and industrial $539,272 $450,336 
Real estate:
Commercial:
Mortgage 98,088 108,759 
Construction 26,284 24,797 
Faith-based:
Mortgage 365,584 355,582 
Construction 7,853 14,664 
Paycheck Protection Program (“PPP”) — 6,299 
Other20 130 
Total loans $1,037,101 $960,567 
The following table presents the aging of loans past due by category at September 30, 2022 and December 31, 2021:
PerformingNonperforming
(In thousands)Current30-59
Days		60-89
Days		90
Days
and
Over		Non-
accrual		Total
Loans
September 30, 2022
Commercial and industrial $539,272 $— $— $— $— $539,272 
Real estate
Commercial:
Mortgage 98,088 — — — — 98,088 
Construction 26,284 — — — — 26,284 
Faith-based:
Mortgage 365,584 — — — — 365,584 
Construction 7,853 — — — — 7,853 
PPP — — — — — — 
Other20 — — — — 20 
Total $1,037,101 $— $— $— $— $1,037,101 
December 31, 2021
Commercial and industrial $450,336 $— $— $— $— $450,336 
Real estate
Commercial:
Mortgage 108,759 — — — — 108,759 
Construction 24,797 — — — — 24,797 
Faith-based:
Mortgage 355,582 — — — — 355,582 
Construction 14,664 — — — — 14,664 
PPP 6,299 — — — — 6,299 
Other130 — — — — 130 
Total $960,567 $— $— $— $— $960,567 
The following table presents the credit exposure of the loan portfolio by internally assigned credit grade as of September 30, 2022 and December 31, 2021:
(In thousands)
Loans
Subject to
Normal
Monitoring1
Performing
Loans Subject
to Special
Monitoring2
Nonperforming
Loans Subject
to Special
Monitoring2
Total Loans
September 30, 2022
Commercial and industrial $536,066 $3,206 $— $539,272 
Real estate
Commercial:
Mortgage 97,558 530 — 98,088 
Construction 26,284 — — 26,284 
Faith-based:
Mortgage 364,627 957 — 365,584 
Construction 7,853 — — 7,853 
Other20 — — 20 
Total $1,032,408 $4,693 $— $1,037,101 
December 31, 2021
Commercial and industrial $440,607 $9,729 $— $450,336 
Real estate
Commercial:
Mortgage 108,759 — — 108,759 
Construction 24,797 — — 24,797 
Faith-based:
Mortgage 352,717 2,865 — 355,582 
Construction 14,664 — — 14,664 
PPP 6,299 — — 6,299 
Other130 — — 130 
Total $947,973 $12,594 $— $960,567 
1 Loans subject to normal monitoring involve borrowers of acceptable-to-strong credit quality and risk, who have the apparent ability to satisfy their loan obligations.
2 Loans subject to special monitoring possess some credit deficiency or potential weakness which requires a high level of management attention.
The Company had no loans evaluated for expected credit losses on an individual basis as of September 30, 2022 or December 31, 2021. There were no foreclosed loans recorded as other real estate owned as of September 30, 2022 or December 31, 2021. There were no loans considered troubled debt restructurings as of September 30, 2022 or December 31, 2021.
A summary of the activity in allowance for credit losses (“ACL”) by category for the periods ended September 30, 2022 and December 31, 2021 is as follows:
(In thousands)C&ICREFaith-based
CRE		ConstructionTotal
Balance at December 31, 2020
$4,635 $1,175 $5,717 $417 $11,944 
Provision for (release of) credit losses 387 (144)(48)(125)70 
Recoveries 12 — 15 — 27 
Balance at December 31, 2021
$5,034 $1,031 $5,684 $292 $12,041 
Provision for (release of) credit losses 919 (129)259 (53)996 
Recoveries 12 — — — 12 
Balance at September 30, 2022
$5,965 $902 $5,943 $239 $13,049 
The provision for credit losses during the period ended September 30, 2022 was primarily driven by growth of the loan portfolio.