Restructurings for Borrowers Experiencing Financial Difficulty

6 Months Ended

Jun. 30, 2024

Restructurings for Borrowers Experiencing Financial Difficulty

NOTE 6. Restructurings for Borrowers Experiencing Financial Difficulty

There were no loans modified during the three and six months ended June 30, 2024, or the three months ended June 30, 2023. The following table presents the amortized cost of two loans that were modified during the six months ended June 30, 2023 by loan portfolio segment:


	For the Six Months Ended June 30,
	2023
	(Dollars in thousands)
	Term Extension		Total		% of Total Class of Loans
Mortgage real estate loans:
Residential First Lien - Owner Occupied	$	355	$	355		0.25	%
Total	$	355	$	355

None of the loans that were modified defaulted during the six months ended June 30, 2023 and the loans remain current with contractual payments as of June 30, 2024. The financial effects of the term extensions during the prior-year period added a weighted average of 1.0 years to the life of loans which reduced the payment amounts for the borrowers.

Management defines default as over 30 days contractually past due under the modified terms, the foreclosure and/or repossession of the collateral, or the charge-off of the loan during the twelve-month period subsequent to the modification.