Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2023

Accounting Policies [Abstract]

Impact on Loans and Allowance for Credit Losses Due to Adoption of ASU 326

The impact of the change from the incurred loss model to the current expected credit loss model is detailed below:

	January 1, 2023
(Dollars in thousands)	Pre-adoption		Adoption Impact			As Reported
Assets:
ACL on loans
Commercial and industrial	$	1,110	$	658		$	1,768
Commercial real estate		2,760		(541	)		2,219
Commercial lessors of buildings		—		974			974
Construction		803		(515	)		288
Consumer mortgage		1,268		(580	)		688
Home equity line of credit		—		201			201
Consumer installment		233		(183	)		50
Consumer indirect		—		91			91
Unallocated		664		(664	)		—
Total allowance for credit losses - loans		6,838		(559	)	$	6,279
Liabilities:
ACL for off-balance sheet commitments		—		493			493
Total allowance for credit losses	$	6,838		(66	)	$	6,772

The following table presents the Bank's loan portfolio, prior to the adoption of ASC 326, by category of loans and the impact of the change from the adoption of the standard:

(Dollars in thousands)	December 31, 2022			Adoption Impact			Post Adoption January 1, 2023
Commercial and industrial	$	129,343		$	(2,209	)	$	127,134
Commercial real estate		231,785			(70,625	)		161,160
Commercial lessors of buildings		—			83,728			83,728
Construction		55,318			(10,452	)		44,866
Consumer mortgage		194,125			(44,338	)		149,787
Home equity line of credit		—			44,243			44,243
Consumer installment		16,387			(6,730	)		9,657
Consumer indirect		—			6,383			6,383
	$	626,958		$	—		$	626,958
Gross loans prior to deferred fees
Deferred loan costs, net		213			—			213
Allowance for credit losses		(6,838	)		559			(6,279	)
Total net loans	$	620,333		$	559		$	620,892