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Allowance for Credit Losses and Reserve for Unfunded Loan Commitments (Tables)
9 Months Ended
Sep. 30, 2023
Allowance for Credit Losses and Reserve for Unfunded Loan Commitments  
Activity in the Allowance for Loan Losses by Portfolio Segment

The following tables detail the activity in the allowance for credit losses by portfolio segment for the three and nine months ended September 30, 2023 and 2022:

For the three months ended September 30, 2023

SBA

Residential

(In thousands)

Held for Investment

Commercial

Residential

Consumer

construction

Total

Balance, beginning of period

$

1,556

$

15,516

$

6,437

$

845

$

1,634

$

25,988

Charge-offs

 

(100)

 

(500)

 

 

(52)

 

 

(652)

Recoveries

 

1

 

10

 

 

37

 

 

48

Net (charge-offs) recoveries

 

(99)

 

(490)

 

 

(15)

 

 

(604)

Provision for (credit to) credit losses charged to expense

 

199

 

325

 

(6)

 

130

 

(114)

 

534

Balance, end of period

$

1,656

$

15,351

$

6,431

$

960

$

1,520

$

25,918

For the three months ended September 30, 2022

Residential

(In thousands)

SBA

Commercial

Residential

Consumer

construction

Total

Balance, beginning of period

$

758

$

14,908

$

4,786

$

803

$

1,603

$

22,858

Charge-offs

 

 

(501)

 

 

(50)

 

 

(551)

Recoveries

 

5

 

23

 

 

9

 

 

37

Net recoveries (charge-offs)

 

5

 

(478)

 

 

(41)

 

 

(514)

Provision for (credit to) credit losses charged to expense

 

68

 

803

 

449

 

349

 

(152)

 

1,517

Balance, end of period

$

831

$

15,233

$

5,235

$

1,111

$

1,451

$

23,861

For the nine months ended September 30, 2023

SBA

Residential

(In thousands)

Held for Investment

Commercial

Residential

Consumer

construction

Total

Balance, beginning of period

$

875

$

15,254

$

5,450

$

990

$

2,627

$

25,196

Effect of adopting Accounting Standards Update ("ASU") No. 2016-13 ("CECL")

163

171

376

101

36

847

Charge-offs

 

(213)

 

(500)

 

 

(397)

 

(900)

 

(2,010)

Recoveries

 

16

 

377

 

 

73

 

 

466

Net (charge-offs) recoveries

 

(197)

 

(123)

 

 

(324)

 

(900)

 

(1,544)

Provision for (credit to) loan losses charged to expense

 

815

 

49

 

605

 

193

 

(243)

 

1,419

Balance, end of period

$

1,656

$

15,351

$

6,431

$

960

$

1,520

$

25,918

For the nine months ended September 30, 2022

Residential

(In thousands)

SBA

Commercial

Residential

Consumer

construction

Total

Balance, beginning of period

$

1,074

$

15,053

$

4,114

$

671

$

1,390

$

22,302

Charge-offs

 

 

(1,001)

 

 

(96)

 

 

(1,097)

Recoveries

 

33

 

83

 

1

 

13

 

 

130

Net (charge-offs) recoveries

 

33

 

(918)

 

1

 

(83)

 

 

(967)

Provision (credit) for loan losses charged to expense

 

(276)

 

1,098

 

1,120

 

523

 

61

 

2,526

Balance, end of period

$

831

$

15,233

$

5,235

$

1,111

$

1,451

$

23,861

Allowance for Credit Losses on Financing Receivables

The following tables present loans and their related allowance for credit losses, by portfolio segment, as of September 30, 2023 and December 31, 2022:

September 30, 2023

SBA

Residential

(In thousands)

Held for Investment

Commercial

Residential

Consumer

construction

Total

Allowance for credit losses ending balance:

 

  

 

  

 

  

 

  

 

  

 

  

Individually evaluated

$

619

$

369

$

386

$

$

285

$

1,659

Collectively evaluated

 

1,037

 

14,982

 

6,045

 

960

 

1,235

 

24,259

Total

$

1,656

$

15,351

$

6,431

$

960

$

1,520

$

25,918

Loan ending balances:

 

  

 

  

 

  

 

  

 

  

 

  

Individually evaluated

$

256

$

750

$

11,059

$

131

$

3,201

$

15,397

Collectively evaluated

 

40,617

 

1,275,406

 

617,569

 

72,058

 

130,249

 

2,135,899

Total

$

40,873

$

1,276,156

$

628,628

$

72,189

$

133,450

$

2,151,296

December 31, 2022

Residential

(In thousands)

SBA

Commercial

Residential

Consumer

construction

Total

Allowance for credit losses ending balance:

 

  

 

  

 

  

 

  

 

 

  

Individually evaluated for impairment

$

115

$

516

$

36

$

$

1,112

$

1,779

Collectively evaluated for impairment

 

760

 

14,738

 

5,414

 

990

 

1,515

 

23,417

Total

$

875

$

15,254

$

5,450

$

990

$

2,627

$

25,196

Loan ending balances:

 

  

 

  

 

  

 

  

 

 

  

Individually evaluated for impairment

$

690

$

3,101

$

3,361

$

$

3,432

$

10,584

Collectively evaluated for impairment

 

71,614

 

1,184,442

 

601,730

 

78,164

 

160,025

 

2,095,975

Total

$

72,304

$

1,187,543

$

605,091

$

78,164

$

163,457

$

2,106,559