0001538263-24-000105 | 10-Q | XBRL Viewer

Deposit Accounts

9 Months Ended

Sep. 30, 2024

Deposit accounts at the dates indicated consist of the following:


	September 30, 2024		December 31, 2023
Noninterest-bearing accounts	$	684,501	$	784,950
NOW accounts	534,517		591,270
Money market accounts	1,345,289		1,246,807
Savings accounts	179,762		194,486
Certificates of deposit	1,017,519		843,860
Total	$	3,761,588	$	3,661,373

Deposits from executive officers and directors and their associates totaled approximately $522 and $1,555 at September 30, 2024 and December 31, 2023, respectively.

As of September 30, 2024, scheduled maturities of certificates of deposit were as follows:


Remainder of 2024	$	323,770
2025	675,894
2026	11,266
2027	4,586
2028	1,329
Thereafter	674
Total	$	1,017,519

Certificates of deposit with balances of $250 or greater totaled $158,523 and $118,035 at September 30, 2024 and December 31, 2023, respectively. Generally, deposit amounts in excess of $250 are not federally insured.

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Deposit Accounts - Schedule of Deposit Accounts (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits [Abstract]
Noninterest-bearing accounts	$ 684,501	$ 784,950
NOW accounts	534,517	591,270
Money market accounts	1,345,289	1,246,807
Savings accounts	179,762	194,486
Certificates of deposit	1,017,519	843,860
Deposits	3,761,588	3,661,373
Deposits received from executive officers and directors and their associates	$ 522	$ 1,555

Leases - Supplement Balance Sheet (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Renewal term (in years)	15 years
ROU assets	$ 8,373	$ 9,259
Lease liabilities	$ 9,917	$ 10,975
Weighted-average remaining lease terms (years)	8 years 4 months 24 days	8 years 9 months 18 days
Weighted-average discount rate	3.46%	3.41%

Fair Value of Financial Instruments - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value off-balance sheet risks, amount, liability	$ 988,551	$ 982,397
Minimum \| Fair Value, Inputs, Level 3 \| Real Estate Loans \| Collateral discounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 3 fair value measurements during the period	0.08
Minimum \| Fair Value, Inputs, Level 3 \| Real Estate Loans \| Discount Spread
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 3 fair value measurements during the period	0.05
Maximum \| Fair Value, Inputs, Level 3 \| Real Estate Loans \| Collateral discounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 3 fair value measurements during the period	0.12
Maximum \| Fair Value, Inputs, Level 3 \| Real Estate Loans \| Discount Spread
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Level 3 fair value measurements during the period	0.15

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid In Capital	Retained Earnings	Unearned ESOP Shares	Accumulated Other Comprehensive Income (Loss)
Balance at beginning of period (in shares) at Dec. 31, 2022		15,673,595
Balance at beginning of period at Dec. 31, 2022	$ 410,155	$ 157	$ 128,486	$ 290,271	$ (5,026)	$ (3,733)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	36,580			36,580
Cash dividends declared on common stock	(5,052)			(5,052)
Forfeited restricted stock (in shares)		(5,520)
Retired stock (in shares)		(14,796)
Retired stock	(382)		(382)
Granted restricted stock (in shares)		54,339
Stock issued for RSUs (in shares)		18,494
Stock issued for Quantum acquisition (in shares)		1,374,646
Stock issued for Quantum acquisition	$ 37,734	$ 14	37,720
Exercised stock options (in shares)	279,549	279,549
Exercised stock options	$ 4,099	$ 3	4,096
Share-based compensation expense	1,206		1,206
ESOP compensation expense	934		537		397
Other comprehensive income (loss)	(863)					(863)
Balance at end of period (in shares) at Sep. 30, 2023		17,380,307
Balance at end of period at Sep. 30, 2023	484,411	$ 174	171,663	321,799	(4,629)	(4,596)
Balance at beginning of period (in shares) at Jun. 30, 2023		17,366,673
Balance at beginning of period at Jun. 30, 2023	471,186	$ 174	171,222	308,651	(4,761)	(4,100)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,833			14,833
Cash dividends declared on common stock	(1,685)			(1,685)
Forfeited restricted stock (in shares)		(1,630)
Retired stock (in shares)		(5,730)
Retired stock	(133)		(133)
Granted restricted stock (in shares)		1,000
Stock issued for RSUs (in shares)		18,494
Exercised stock options (in shares)		1,500
Exercised stock options	24		24
Share-based compensation expense	383		383
ESOP compensation expense	299		167		132
Other comprehensive income (loss)	(496)					(496)
Balance at end of period (in shares) at Sep. 30, 2023		17,380,307
Balance at end of period at Sep. 30, 2023	$ 484,411	$ 174	171,663	321,799	(4,629)	(4,596)
Balance at beginning of period (in shares) at Dec. 31, 2023	17,387,069	17,387,069
Balance at beginning of period at Dec. 31, 2023	$ 499,893	$ 174	172,366	333,401	(4,497)	(1,551)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	40,597			40,597
Cash dividends declared on common stock	(5,615)			(5,615)
Common stock repurchased (in shares)		(23,483)
Common stock repurchased	(645)		(645)
Forfeited restricted stock (in shares)		(2,211)
Retired stock (in shares)		(12,751)
Retired stock	$ (365)		(365)
Granted restricted stock (in shares)		73,502
Stock issued for RSUs (in shares)		10,683
Exercised stock options (in shares)	82,113	82,113
Exercised stock options	$ 2,024	$ 1	2,023
Share-based compensation expense	1,363		1,363
ESOP compensation expense	1,151		753		398
Other comprehensive income (loss)	$ 1,601					1,601
Balance at end of period (in shares) at Sep. 30, 2024	17,514,922	17,514,922
Balance at end of period at Sep. 30, 2024	$ 540,004	$ 175	175,495	368,383	(4,099)	50
Balance at beginning of period (in shares) at Jun. 30, 2024		17,437,326
Balance at beginning of period at Jun. 30, 2024	523,628	$ 175	172,907	357,147	(4,232)	(2,369)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	13,112			13,112
Cash dividends declared on common stock	(1,876)			(1,876)
Forfeited restricted stock (in shares)		(2,211)
Retired stock (in shares)		(3,989)
Retired stock	(132)		(132)
Granted restricted stock (in shares)		1,000
Stock issued for RSUs (in shares)		10,683
Exercised stock options (in shares)		72,113
Exercised stock options	1,865		1,865
Share-based compensation expense	541		541
ESOP compensation expense	447		314		133
Other comprehensive income (loss)	$ 2,419					2,419
Balance at end of period (in shares) at Sep. 30, 2024	17,514,922	17,514,922
Balance at end of period at Sep. 30, 2024	$ 540,004	$ 175	$ 175,495	$ 368,383	$ (4,099)	$ 50

Fair Value of Financial Instruments

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Fair Value of Financial Instruments

Fair value is the exchange price that would be received for an asset or paid to transfer a liability (exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. There are three levels of inputs that may be used to measure fair values:

Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date.

Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data.

Level 3: Significant unobservable inputs that reflect a company's own assumptions about the assumptions that market participants would use in pricing an asset or liability.

A financial instrument's level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The following is a description of valuation methodologies used for assets recorded at fair value. As of both September 30, 2024 and December 31, 2023, the Company did not have any liabilities recorded at fair value.

The methods of determining the fair value of assets and liabilities presented in this note are consistent with the methodologies disclosed in Note 20 of the 2023 Form 10-KT.

Financial Assets Recorded at Fair Value

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:


	September 30, 2024
	Total		Level 1		Level 2		Level 3
Debt securities available for sale

MBS, residential	$	132,756	$	—	$	132,756	$	—
Municipal bonds	3,424		—		3,424		—
Corporate bonds	4,372		—		4,372		—
Total debt securities available for sale	$	140,552	$	—	$	140,552	$	—

Loans held for sale	$	2,968	$	—	$	2,968	$	—


	December 31, 2023
	Total		Level 1		Level 2		Level 3
Debt securities available for sale

MBS, residential	$	104,499	$	—	$	104,499	$	—
Municipal bonds	3,409		—		3,409		—
Corporate bonds	19,042		—		19,042		—
Total debt securities available for sale	$	126,950	$	—	$	126,950	$	—

Loans held for sale	$	3,359	$	—	$	3,359	$	—

Debt securities available for sale are valued on a recurring basis at quoted market prices where available. If quoted market prices are not available, fair values are based on quoted prices of comparable securities. Level 1 securities include those traded on an active exchange, such as the New York Stock Exchange or U.S. Treasury securities that are traded by dealers or brokers in active over-the-counter markets and money market funds. Level 2 securities include MBS and debentures issued by GSEs, municipal bonds and corporate debt securities. The Company has no Level 3 securities.

Loans held for sale carried at fair value are valued at the individual loan level using quoted secondary market prices.

There were no transfers between levels during the nine months ended September 30, 2024 or 2023.

The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated:


	September 30, 2024
	Total		Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate loans
Commercial real estate – owner occupied	$	593	$	—	$	—	$	593
Commercial real estate – non-owner occupied	3,186		—		—		3,186
Commercial loans
Commercial and industrial	240		—		—		240
Equipment finance	768		—		—		768



Total	$	4,787	$	—	$	—	$	4,787


	December 31, 2023
	Total		Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate loans
Commercial real estate – owner occupied	$	438	$	—	$	—	$	438
Commercial loans
Commercial and industrial	108		—		—		108
Equipment finance	578		—		—		578


Total	$	1,124	$	—	$	—	$	1,124

A loan is considered to be collateral dependent when, based on current information and events, the Company expects repayment of the financial assets to be provided substantially through the operation or sale of the collateral and the Company has determined that the borrower is experiencing financial difficulty as of the measurement date. For real estate loans, the fair value of the loan's collateral is determined by a third-party appraisal, which is then adjusted for the estimated selling and closing costs related to liquidation of the collateral (typically ranging from 8% to 12% of the appraised value). For this asset class, the actual valuation methods (income, sales comparable or cost) vary based on the status of the project or property. Additional discounts of 5% to 15% may be applied depending on the age of the appraisals. The unobservable inputs may vary depending on the age of the appraisals. The unobservable inputs may vary depending on the individual asset

with no one of the three methods being the predominant approach. For non-real estate loans, the fair value of the loan's collateral may be determined using an appraisal, net book value per the borrower's financial statements or aging reports, adjusted or discounted based on management's historical knowledge, changes in market conditions from the time of the valuation and management's expertise and knowledge of the customer and customer's business.

The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2024 and December 31, 2023, are summarized below:


	September 30, 2024
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	293,477	$	293,477	$	293,477	$	—	$	—

Certificates of deposit in other banks	29,290		29,290		—		29,290		—
Debt securities available for sale, at fair value	140,552		140,552		—		140,552		—
FHLB and FRB stock	18,384		N/A		N/A		N/A		N/A
SBIC investments, at cost	15,489		15,489		—		—		15,489
Loans held for sale, at fair value	2,968		2,968		2,968		—		—
Loans held for sale, at the lower of cost or fair value	189,722		191,792		—		—		191,792
Loans, net	3,650,761		3,568,832		—		—		3,568,832
Accrued interest receivable	17,523		17,523		229		615		16,679
Liabilities
Noninterest-bearing and NOW deposits	1,219,018		1,219,018		—		1,219,018		—
Money market accounts	1,345,289		1,345,289		—		1,345,289		—
Savings accounts	179,762		179,762		—		179,762		—
Certificates of deposit	1,017,519		1,018,102		—		1,018,102		—
Junior subordinated debt	10,096		9,802		—		9,802		—
Borrowings	260,013		260,185		—		260,185		—
Accrued interest payable	10,796		10,796		—		10,796		—


	December 31, 2023
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	347,140	$	347,140	$	347,140	$	—	$	—

Certificates of deposit in other banks	34,722		34,722		—		34,722		—
Debt securities available for sale, at fair value	126,950		126,950		—		126,950		—
FHLB and FRB stock	18,393		N/A		N/A		N/A		N/A
SBIC investments, at cost	13,789		13,789		—		—		13,789
Loans held for sale, at fair value	3,359		3,359		3,359		—		—
Loans held for sale, at the lower of cost or fair value	198,433		200,869		—		—		200,869
Loans, net	3,591,381		3,472,491		—		—		3,472,491
Accrued interest receivable	16,902		16,902		107		656		16,139
Liabilities
Noninterest-bearing and NOW deposits	1,376,220		1,376,220		—		1,376,220		—
Money market accounts	1,246,807		1,246,807		—		1,246,807		—
Savings accounts	194,486		194,486		—		194,486		—
Certificates of deposit	843,860		839,501		—		839,501		—
Junior subordinated debt	10,021		9,767		—		9,767		—
Borrowings	433,763		433,747		—		433,747		—
Accrued interest payable	6,849		6,849		—		6,849		—

The Company had off-balance sheet financial commitments, which included approximately $988,551 and $982,397 of commitments to originate loans, undisbursed portions of construction loans, unused lines of credit and standby letters of credit at September 30, 2024 and December 31, 2023, respectively (see "Note 12 – Commitments and Contingencies"). Since these commitments are based on current rates, the carrying amount approximates the fair value.

Deposit Accounts - Schedule of Maturities of Certificates of Deposit (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Deposits [Abstract]
Remainder of 2024	$ 323,770
2025	675,894
2026	11,266
2027	4,586
2028	1,329
Thereafter	674
Total	$ 1,017,519

Net Income per Share (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Schedule of Earnings Per Share, Basic and Diluted

The following is a reconciliation of the numerator and denominator of basic and diluted net income per common share as of the dates indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator
Net income	$	13,112	$	14,833	$	40,597	$	36,580
Allocation of earnings to participating securities	(132)		(117)		(410)		(292)
Numerator for basic and diluted EPS - net income available to common stockholders	$	12,980	$	14,716	$	40,187	$	36,288



Denominator
Weighted-average common shares outstanding - basic	16,931,793		16,792,177		16,891,619		16,532,335
Dilutive effect of assumed exercise of stock options	96,031		8,724		46,709		20,984
Weighted-average common shares outstanding - diluted	17,027,824		16,800,901		16,938,328		16,553,319
Net income per share - basic	$	0.77	$	0.88	$	2.38	$	2.19
Net income per share - diluted	$	0.76	$	0.88	$	2.37	$	2.18

Equity Incentive Plan - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested, number of shares (in shares)	48,970	74,960
Remaining contractual life (years)	4 years	4 years 9 months 18 days	4 years 7 months 6 days	3 years 10 months 24 days
Options outstanding (in shares)		74,960
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized	$ 261	$ 428
Remaining contractual life (years)	5 years	5 years
Compensation cost not yet recognized, period for recognition (in years)	1 year 1 month 6 days	1 year 4 months 24 days
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost not yet recognized, period for recognition (in years)	1 year 8 months 12 days	1 year 8 months 12 days
Compensation not yet recognized, share-based awards other than options	$ 3,523	$ 2,751
Non-option equity instruments, outstanding (in shares)	172,302	133,222
2022 Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)	1,000,000

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
ROU assets - noncash additions (operating leases)	$ 0	$ 3,956
Cash paid for amounts included in the measurement of lease liabilities (operating leases)	1,140	1,019
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	$ 0	$ 22

Equity Incentive Plan

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Equity Incentive Plan

The Company historically provided stock-based awards through the 2013 Omnibus Incentive Plan, which provided for awards of restricted stock, restricted stock units, stock options, stock appreciation rights and cash awards to directors, directors emeritus, officers, employees and advisory directors. On November 14, 2022, at the Company's annual meeting, stockholders approved the 2022 Omnibus Incentive Plan which provides for the same types of awards as described under the 2013 Omnibus Incentive Plan. Going forward, any future grants will be made under this plan.

The cost of equity-based awards under the 2022 Omnibus Incentive Plan generally is based on the fair value of the awards on their grant date. The maximum number of shares that may be utilized for awards under the plan is 1,000,000. Shares of common stock issued under the plan will be issued out of authorized but unissued shares, some or all of which may be repurchased shares.

The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the dates indicated below:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Share-based compensation expense	$	541	$	383	$	1,363	$	1,206
Tax benefit	128		90		323		283

The table below presents stock option activity and related information for the nine months ended September 30, 2024 and 2023:


	Options	Weighted-Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Options outstanding at December 31, 2022	849,623	$	22.06	3.9	$	2,958


Exercised	(279,549)	14.66
Forfeited	(27,724)	25.39

Options outstanding at September 30, 2023	542,350	$	25.70	4.8	$	157
Exercisable at September 30, 2023	467,390	$	25.40	4.4	$	157
Non-vested at September 30, 2023	74,960	$	27.58	7.7	$	—

Options outstanding at December 31, 2023	534,350	$	25.85	4.6	$	776

Exercised	(82,113)	24.65
Forfeited	(23,600)	25.94

Options outstanding at September 30, 2024	428,637	$	26.07	4.0	$	3,433
Exercisable at September 30, 2024	379,667	$	25.85	3.7	$	3,124
Non-vested at September 30, 2024	48,970	$	27.77	6.9	$	309

There were no options granted during the nine months ended September 30, 2024 and 2023.

At September 30, 2024, the Company had $261 of unrecognized compensation expense related to 48,970 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.1 years at September 30, 2024. At September 30, 2023, the Company had $428 of unrecognized compensation expense

related to 74,960 stock options originally scheduled to vest over a five-year period. The weighted average period over which compensation cost related to non-vested awards is expected to be recognized was 1.4 years at September 30, 2023.

The table below presents restricted stock award activity and related information:


	Restricted Stock Awards(1)	Performance-Based Restricted Stock Units(2)	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested at December 31, 2022	100,992	22,843	$	27.28	$	2,033
Granted	54,339	23,684	27.39
Vested	(41,590)	(18,494)	26.07
Forfeited	(5,520)	(3,032)	27.14
Non-vested at September 30, 2023	108,221	25,001	$	27.69	$	2,887

Non-vested at December 31, 2023	106,143	25,001	$	27.70	$	3,530
Granted	73,502	17,690	26.96
Vested	(36,639)	(10,683)	28.26
Forfeited	(2,211)	(501)	27.36
Non-vested at September 30, 2024	140,795	31,507	$	27.16	$	5,872

(1)Restricted stock awards are scheduled to vest over 1.0 year for director awards and 5.0 years for employee awards.

(2)Performance-based restricted stock units are scheduled to vest over 3.0 years assuming the applicable financial goals are met.

At September 30, 2024, unrecognized compensation expense was $3,523 related to 172,302 shares of restricted stock and restricted stock units. The weighted average period over which compensation cost related to non-vested awards was expected to be recognized was 1.7 years at September 30, 2024. At September 30, 2023, unrecognized compensation expense was $2,751 related to 133,222 shares of restricted stock and restricted stock units. The weighted average period over which compensation cost related to non-vested awards was expected to be recognized was 1.7 years at September 30, 2023.

Debt Securities - Available for Sale Securities Table (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 140,486	$ 128,964
Gross Unrealized Gains	2,041	1,194
Gross Unrealized Losses	(1,975)	(3,208)
Estimated Fair Value	140,552	126,950
MBS, residential
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	132,026	105,477
Gross Unrealized Gains	2,041	1,194
Gross Unrealized Losses	(1,311)	(2,172)
Estimated Fair Value	132,756	104,499
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,460	3,487
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(36)	(78)
Estimated Fair Value	3,424	3,409
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,000	20,000
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(628)	(958)
Estimated Fair Value	$ 4,372	$ 19,042

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-2

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+ Details

Leases - Lessor, Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Lessor, Lease, Description [Line Items]
Leased asset	$ 33,865		$ 33,865		$ 30,121
Operating lease, residual value of leased asset	14,140		14,140		14,958
Direct financing lease, interest income	$ 1,181	$ 995	$ 3,348	$ 2,810
Direct financing lease, lease receivable					$ 70,150
Minimum
Lessor, Lease, Description [Line Items]
Term of contract	1 year		1 year
Maximum
Lessor, Lease, Description [Line Items]
Term of contract	7 years		7 years

Loans and Allowance for Credit Losses on Loans

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Loans and Allowance for Credit Losses on Loans

Loans consist of the following at the dates indicated(1):


	September 30, 2024		December 31, 2023
Commercial real estate loans
Construction and land development	$	300,905	$	305,269
Commercial real estate – owner occupied	544,689		536,545
Commercial real estate – non-owner occupied	881,340		875,694
Multifamily	114,155		88,623
Total commercial real estate loans	1,841,089		1,806,131
Commercial loans
Commercial and industrial	286,809		237,255
Equipment finance	443,033		465,573
Municipal leases	158,560		150,292

Total commercial loans	888,402		853,120
Residential real estate loans
Construction and land development	63,016		96,646
One-to-four family	627,845		584,405
HELOCs	194,909		185,878
Total residential real estate loans	885,770		866,929
Consumer loans	83,631		113,842
Total loans, net of deferred loan fees and costs	3,698,892		3,640,022
ACL on loans	(48,131)		(48,641)
Loans, net	$	3,650,761	$	3,591,381

(1) At September 30, 2024 and December 31, 2023 accrued interest receivable of $16,679 and $16,218, respectively, was accounted for separately from the amortized cost basis.

All qualifying one-to-four family loans, HELOCs, commercial real estate loans and FHLB of Atlanta stock are pledged as collateral by a blanket pledge to secure outstanding FHLB advances.

Loans are made to the Company's executive officers, directors and their associates during the ordinary course of business. The aggregate amount of loans to such related parties totaled approximately $253 and $209 at September 30, 2024 and December 31, 2023, respectively. In relation to these loans are unfunded commitments that totaled approximately $3 at both September 30, 2024 and December 31, 2023, respectively.

Loans are monitored for credit quality on a recurring basis and the composition of the loans outstanding by credit quality indicator is provided below. Loan credit quality indicators are developed through review of individual borrowers on an ongoing basis. Generally, loans are monitored for performance on a quarterly basis with the credit quality indicators adjusted as needed. The indicators represent the rating for loans as of the date presented based on the most recent assessment performed. These credit quality indicators are defined as follows:

Pass – A pass rated loan is not adversely classified because it does not display any of the characteristics for adverse classification.

Special Mention – A special mention loan has potential weaknesses that deserve management’s close attention. If left uncorrected, such potential weaknesses may result in deterioration of the repayment prospects or collateral position at some future date. Special mention loans are not adversely classified and do not warrant adverse classification.

Substandard – A substandard loan is inadequately protected by the current net worth and paying capacity of the obligor, or of the collateral pledged, if any. Loans classified as substandard generally have a well-defined weakness, or weaknesses, that jeopardize the liquidation of the debt. These loans are characterized by the distinct possibility of loss if the deficiencies are not corrected.

Doubtful – A loan classified as doubtful has all the weaknesses inherent in a loan classified substandard with the added characteristic that the weaknesses make collection or liquidation in full highly questionable and improbable, on the basis of currently existing facts, conditions and values.

Loss – Loans classified as loss are considered uncollectible and of such little value that their continuing to be carried as a loan is not warranted. This classification is not necessarily equivalent to no potential for recovery or salvage value, but rather that it is not appropriate to defer a full write-off even though partial recovery may be effected in the future.

The following tables present the credit risk profile by risk grade for commercial real estate, commercial, residential real estate and consumer loans by origination year as of September 30, 2024. Also included in the tables detailing loan balances are gross charge-offs for the nine months ended September 30, 2024.


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	99,027	$	57,217	$	62,655	$	59,756	$	9,950	$	7,439	$	4,097	$	300,141
Special mention	—		—		—		—		764		—		—		764
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	99,027	$	57,217	$	62,655	$	59,756	$	10,714	$	7,439	$	4,097	$	300,905

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate – owner occupied
Risk rating
Pass	$	44,445	$	35,877	$	65,978	$	99,150	$	83,016	$	201,112	$	4,414	$	533,992
Special mention	—		—		151		136		441		2,239		—		2,967
Substandard	—		274		254		284		1		6,588		—		7,401
Doubtful	—		—		—		305		—		24		—		329
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – owner occupied	$	44,445	$	36,151	$	66,383	$	99,875	$	83,458	$	209,963	$	4,414	$	544,689

Current period gross charge-offs	$	—	$	—	$	77	$	—	$	—	$	208	$	—	$	285

Commercial real estate – non-owner occupied
Risk rating
Pass	$	57,539	$	22,168	$	98,035	$	147,252	$	176,222	$	335,226	$	9,360	$	845,802
Special mention	—		—		3,675		3,830		—		15,095		—		22,600
Substandard	—		—		3,046		—		—		9,892		—		12,938
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – non-owner occupied	$	57,539	$	22,168	$	104,756	$	151,082	$	176,222	$	360,213	$	9,360	$	881,340

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Multifamily
Risk rating
Pass	$	9,919	$	5,505	$	6,581	$	19,195	$	46,656	$	25,961	$	—	$	113,817
Special mention	—		—		—		—		—		87		—		87
Substandard	—		—		—		—		—		251		—		251
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total multifamily	$	9,919	$	5,505	$	6,581	$	19,195	$	46,656	$	26,299	$	—	$	114,155

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	10	$	—	$	10

Total commercial real estate
Risk rating
Pass	$	210,930	$	120,767	$	233,249	$	325,353	$	315,844	$	569,738	$	17,871	$	1,793,752
Special mention	—		—		3,826		3,966		1,205		17,421		—		26,418
Substandard	—		274		3,300		284		1		16,731		—		20,590
Doubtful	—		—		—		305		—		24		—		329
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	210,930	$	121,041	$	240,375	$	329,908	$	317,050	$	603,914	$	17,871	$	1,841,089

Total current period gross charge-offs	$	—	$	—	$	77	$	—	$	—	$	218	$	—	$	295

(1)As previously announced, on July 24, 2023, the Board of Directors approved a change in the Company's fiscal year end from June 30 to December 31. "2023-S" represents the six-month transition period ended December 31, 2023. All subsequent periods are based on a calendar year end.


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Commercial and industrial
Risk rating
Pass	$	63,013	$	26,895	$	43,555	$	38,078	$	11,407	$	23,761	$	71,858	$	278,567
Special mention	—		—		—		449		99		2,617		151		3,316
Substandard	—		279		1,340		1,498		524		860		169		4,670
Doubtful	—		—		—		—		—		256		—		256
Loss	—		—		—		—		—		—		—		—
Total commercial and industrial	$	63,013	$	27,174	$	44,895	$	40,025	$	12,030	$	27,494	$	72,178	$	286,809

Current period gross charge-offs	$	—	$	—	$	1,168	$	1,056	$	51	$	1,089	$	—	$	3,364

Equipment finance
Risk rating
Pass	$	98,055	$	69,198	$	138,203	$	77,660	$	35,051	$	14,040	$	—	$	432,207
Special mention	—		84		752		932		429		260		—		2,457
Substandard	—		—		—		3,218		—		114		—		3,332
Doubtful	—		328		1,953		2,221		485		50		—		5,037
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	98,055	$	69,610	$	140,908	$	84,031	$	35,965	$	14,464	$	—	$	443,033

Current period gross charge-offs	$	—	$	—	$	2,129	$	2,509	$	486	$	307	$	—	$	5,431

Municipal leases
Risk rating
Pass	$	17,098	$	18,901	$	25,129	$	23,173	$	24,869	$	49,390	$	—	$	158,560
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total municipal leases	$	17,098	$	18,901	$	25,129	$	23,173	$	24,869	$	49,390	$	—	$	158,560

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total commercial
Risk rating
Pass	$	178,166	$	114,994	$	206,887	$	138,911	$	71,327	$	87,191	$	71,858	$	869,334
Special mention	—		84		752		1,381		528		2,877		151		5,773
Substandard	—		279		1,340		4,716		524		974		169		8,002
Doubtful	—		328		1,953		2,221		485		306		—		5,293
Loss	—		—		—		—		—		—		—		—
Total commercial	$	178,166	$	115,685	$	210,932	$	147,229	$	72,864	$	91,348	$	72,178	$	888,402

Total current period gross charge-offs	$	—	$	—	$	3,297	$	3,565	$	537	$	1,396	$	—	$	8,795


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	8,676	$	13,703	$	27,536	$	9,671	$	2,712	$	584	$	—	$	62,882
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		134		—		134
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	8,676	$	13,703	$	27,536	$	9,671	$	2,712	$	718	$	—	$	63,016

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

One-to-four family
Risk rating
Pass	$	30,254	$	20,789	$	147,351	$	152,076	$	101,669	$	161,554	$	7,590	$	621,283
Special mention	—		—		—		—		—		493		45		538
Substandard	189		355		594		670		—		4,201		—		6,009
Doubtful	—		—		—		—		—		15		—		15
Loss	—		—		—		—		—		—		—		—
Total one-to-four family	$	30,443	$	21,144	$	147,945	$	152,746	$	101,669	$	166,263	$	7,635	$	627,845

Current period gross charge-offs	$	—	$	—	$	—	$	7	$	—	$	5	$	—	$	12

HELOCs
Risk rating
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	190,533	$	190,533
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		4,376		4,376
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total HELOCs	$	—	$	—	$	—	$	—	$	—	$	—	$	194,909	$	194,909

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	48	$	48

Total residential real estate
Risk rating
Pass	$	38,930	$	34,492	$	174,887	$	161,747	$	104,381	$	162,138	$	198,123	$	874,698
Special mention	—		—		—		—		—		493		45		538
Substandard	189		355		594		670		—		4,335		4,376		10,519
Doubtful	—		—		—		—		—		15		—		15
Loss	—		—		—		—		—		—		—		—
Total residential real estate	$	39,119	$	34,847	$	175,481	$	162,417	$	104,381	$	166,981	$	202,544	$	885,770

Total current period gross charge-offs	$	—	$	—	$	—	$	7	$	—	$	5	$	48	$	60


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Total consumer
Risk rating
Pass	$	5,013	$	20,200	$	37,074	$	9,780	$	6,192	$	4,075	$	250	$	82,584
Special mention	—		—		—		—		—		—		—		—
Substandard	54		52		479		123		169		147		16		1,040
Doubtful	—		—		5		—		2		—		—		7
Loss	—		—		—		—		—		—		—		—
Total consumer	$	5,067	$	20,252	$	37,558	$	9,903	$	6,363	$	4,222	$	266	$	83,631

Total current period gross charge-offs	$	35	$	165	$	459	$	227	$	86	$	47	$	2	$	1,021

The following tables present the credit risk profile by risk grade for commercial real estate, commercial, residential real estate and consumer loans by origination year as of December 31, 2023(2). Also included in the tables detailing loan balances are gross charge-offs for the year ended December 31, 2023.


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	61,716	$	105,170	$	88,320	$	37,197	$	201	$	7,581	$	4,805	$	304,990
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		279		—		—		—		—		279
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	61,716	$	105,170	$	88,599	$	37,197	$	201	$	7,581	$	4,805	$	305,269

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate – owner occupied
Risk rating
Pass	$	35,428	$	61,090	$	104,005	$	90,506	$	72,121	$	159,328	$	3,486	$	525,964
Special mention	—		149		148		447		2,033		3,699		—		6,476
Substandard	—		—		379		1		338		2,886		—		3,604
Doubtful	—		—		—		—		289		212		—		501
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – owner occupied	$	35,428	$	61,239	$	104,532	$	90,954	$	74,781	$	166,125	$	3,486	$	536,545

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	290	$	—	$	290

Commercial real estate – non-owner occupied
Risk rating
Pass	$	11,716	$	104,881	$	155,782	$	185,264	$	95,749	$	302,341	$	6,460	$	862,193
Special mention	—		—		—		—		—		294		—		294
Substandard	—		3,078		—		—		6,180		3,949		—		13,207
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – non-owner occupied	$	11,716	$	107,959	$	155,782	$	185,264	$	101,929	$	306,584	$	6,460	$	875,694

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Multifamily
Risk rating
Pass	$	5,515	$	4,184	$	18,597	$	21,411	$	10,921	$	25,400	$	644	$	86,672
Special mention	—		—		1,583		—		—		89		—		1,672
Substandard	—		—		—		—		—		279		—		279
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total multifamily	$	5,515	$	4,184	$	20,180	$	21,411	$	10,921	$	25,768	$	644	$	88,623

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total commercial real estate
Risk rating
Pass	$	114,375	$	275,325	$	366,704	$	334,378	$	178,992	$	494,650	$	15,395	$	1,779,819
Special mention	—		149		1,731		447		2,033		4,082		—		8,442
Substandard	—		3,078		658		1		6,518		7,114		—		17,369
Doubtful	—		—		—		—		289		212		—		501
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	114,375	$	278,552	$	369,093	$	334,826	$	187,832	$	506,058	$	15,395	$	1,806,131

Total current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	290	$	—	$	290

(2)This table reflects the correction of an immaterial error in the prior period disclosure. See "Note 1 – Summary of Significant Accounting Policies" for further information.


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Commercial and industrial
Risk rating
Pass	$	19,180	$	51,742	$	60,487	$	14,146	$	11,071	$	22,352	$	49,663	$	228,641
Special mention	—		329		227		158		54		81		—		849
Substandard	—		671		341		29		1,380		307		3,707		6,435
Doubtful	—		713		—		—		222		—		264		1,199
Loss	—		—		—		—		—		131		—		131
Total commercial and industrial	$	19,180	$	53,455	$	61,055	$	14,333	$	12,727	$	22,871	$	53,634	$	237,255

Current period gross charge-offs	$	—	$	1,337	$	402	$	184	$	574	$	618	$	—	$	3,115

Equipment finance
Risk rating
Pass	$	83,332	$	172,704	$	113,363	$	57,295	$	25,552	$	4,854	$	—	$	457,100
Special mention	—		338		666		383		341		252		—		1,980
Substandard	—		206		—		—		—		134		—		340
Doubtful	—		2,645		2,498		626		384		—		—		6,153
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	83,332	$	175,893	$	116,527	$	58,304	$	26,277	$	5,240	$	—	$	465,573

Current period gross charge-offs	$	—	$	550	$	912	$	539	$	29	$	14	$	—	$	2,044

Municipal leases
Risk rating
Pass	$	17,372	$	34,203	$	28,241	$	15,742	$	7,358	$	47,376	$	—	$	150,292
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total municipal leases	$	17,372	$	34,203	$	28,241	$	15,742	$	7,358	$	47,376	$	—	$	150,292

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total commercial
Risk rating
Pass	$	119,884	$	258,649	$	202,091	$	87,183	$	43,981	$	74,582	$	49,663	$	836,033
Special mention	—		667		893		541		395		333		—		2,829
Substandard	—		877		341		29		1,380		441		3,707		6,775
Doubtful	—		3,358		2,498		626		606		—		264		7,352
Loss	—		—		—		—		—		131		—		131
Total commercial	$	119,884	$	263,551	$	205,823	$	88,379	$	46,362	$	75,487	$	53,634	$	853,120

Total current period gross charge-offs	$	—	$	1,887	$	1,314	$	723	$	603	$	632	$	—	$	5,159


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	7,669	$	64,716	$	18,841	$	4,002	$	44	$	1,237	$	—	$	96,509
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		137		—		137
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	7,669	$	64,716	$	18,841	$	4,002	$	44	$	1,374	$	—	$	96,646

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

One-to-four family
Risk rating
Pass	$	19,532	$	102,902	$	153,029	$	109,870	$	48,971	$	139,061	$	5,395	$	578,760
Special mention	—		—		—		—		—		511		—		511
Substandard	—		383		258		—		202		4,268		—		5,111
Doubtful	—		—		—		—		—		23		—		23
Loss	—		—		—		—		—		—		—		—
Total one-to-four family	$	19,532	$	103,285	$	153,287	$	109,870	$	49,173	$	143,863	$	5,395	$	584,405

Current period gross charge-offs	$	—	$	—	$	13	$	3	$	12	$	4	$	—	$	32

HELOCs
Risk rating
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	183,815	$	183,815
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		2,034		2,034
Doubtful	—		—		—		—		—		—		29		29
Loss	—		—		—		—		—		—		—		—
Total HELOCs	$	—	$	—	$	—	$	—	$	—	$	—	$	185,878	$	185,878

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total residential real estate
Risk rating
Pass	$	27,201	$	167,618	$	171,870	$	113,872	$	49,015	$	140,298	$	189,210	$	859,084
Special mention	—		—		—		—		—		511		—		511
Substandard	—		383		258		—		202		4,405		2,034		7,282
Doubtful	—		—		—		—		—		23		29		52
Loss	—		—		—		—		—		—		—		—
Total residential real estate	$	27,201	$	168,001	$	172,128	$	113,872	$	49,217	$	145,237	$	191,273	$	866,929

Total current period gross charge-offs	$	—	$	—	$	13	$	3	$	12	$	4	$	—	$	32


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Total consumer
Risk rating
Pass	$	26,569	$	51,351	$	14,408	$	9,672	$	6,313	$	4,068	$	309	$	112,690
Special mention	—		—		—		—		—		—		—		—
Substandard	—		329		265		210		172		141		24		1,141
Doubtful	—		7		—		3		—		—		—		10
Loss	—		—		—		—		—		1		—		1
Total consumer	$	26,569	$	51,687	$	14,673	$	9,885	$	6,485	$	4,210	$	333	$	113,842

Total current period gross charge-offs	$	6	$	401	$	118	$	34	$	11	$	9	$	—	$	579

The following tables present aging analyses of past due loans (including nonaccrual loans) by segment and class for the periods indicated:



	Past Due								Total Loans
	30-89 Days		90 Days+		Total		Current
September 30, 2024
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	300,905	$	300,905
Commercial real estate – owner occupied	4,040		612		4,652		540,037		544,689
Commercial real estate – non-owner occupied	—		4,004		4,004		877,336		881,340
Multifamily	—		—		—		114,155		114,155
Total commercial real estate	4,040		4,616		8,656		1,832,433		1,841,089
Commercial
Commercial and industrial	227		3,283		3,510		283,299		286,809
Equipment finance	1,938		3,235		5,173		437,860		443,033
Municipal leases	—		—		—		158,560		158,560

Total commercial	2,165		6,518		8,683		879,719		888,402
Residential real estate
Construction and land development	—		132		132		62,884		63,016
One-to-four family	1,360		1,287		2,647		625,198		627,845
HELOCs	1,564		1,914		3,478		191,431		194,909
Total residential real estate	2,924		3,333		6,257		879,513		885,770
Consumer	463		211		674		82,957		83,631
Total loans	$	9,592	$	14,678	$	24,270	$	3,674,622	$	3,698,892


	Past Due								Total Loans
	30-89 Days		90 Days+		Total		Current
December 31, 2023
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	305,269	$	305,269
Commercial real estate – owner occupied	657		501		1,158		535,387		536,545
Commercial real estate – non-owner occupied	4,032		—		4,032		871,662		875,694
Multifamily	—		—		—		88,623		88,623
Total commercial real estate	4,689		501		5,190		1,800,941		1,806,131
Commercial
Commercial and industrial	974		2,667		3,641		233,614		237,255
Equipment finance	5,411		4,019		9,430		456,143		465,573
Municipal leases	—		—		—		150,292		150,292

Total commercial	6,385		6,686		13,071		840,049		853,120
Residential real estate
Construction and land development	—		132		132		96,514		96,646
One-to-four family	958		1,068		2,026		582,379		584,405
HELOCs	1,240		1,622		2,862		183,016		185,878
Total residential real estate	2,198		2,822		5,020		861,909		866,929
Consumer	535		301		836		113,006		113,842
Total loans	$	13,807	$	10,310	$	24,117	$	3,615,905	$	3,640,022

The following table presents the recorded investment in loans on nonaccrual status, by segment and class, including restructured loans. It also includes interest income recognized on nonaccrual loans for the nine months ended September 30, 2024.


	September 30, 2024		December 31, 2023		90 Days+ & Still Accruing as of September 30, 2024		Nonaccrual with No ACL as of September 30, 2024		Interest Income Recognized
Commercial real estate

Commercial real estate – owner occupied	$	7,215	$	912	$	—	$	5,370	$	70
Commercial real estate – non-owner occupied	4,004		4,032		—		—		39
Multifamily	55		74		—		—		4
Total commercial real estate	11,274		5,018		—		5,370		113
Commercial
Commercial and industrial	3,978		2,774		—		643		56
Equipment finance	8,543		6,463		—		3,321		166


Total commercial	12,521		9,237		—		3,964		222
Residential real estate
Construction and land development	132		132		—		—		—
One-to-four family	2,102		2,205		—		—		70
HELOCs	2,477		2,173		—		—		34
Total residential real estate	4,711		4,510		—		—		104
Consumer	400		568		—		—		17
Total loans	$	28,906	$	19,333	$	—	$	9,334	$	456

The following tables present analyses of the ACL on loans by segment for the periods indicated. In addition to the provision for credit losses on loans presented below, benefits of $15 and $35 for off-balance sheet credit exposures were recorded during the three and nine months ended September 30, 2024, respectively. Benefits of $280 and $385 for off-balance sheet credit exposures were recorded during the three and nine months ended September 30, 2023, respectively. In addition, for the nine months ended September 30, 2023, $4,921 and $369 of the provision for credit losses was recognized to establish ACLs on Quantum's loan portfolio and off-balance-sheet credit exposure, respectively.


	Three Months Ended September 30, 2024
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	20,539	$	18,115	$	9,103	$	1,466	$	49,223

Provision for credit losses	134		2,061		714		81		2,990


Charge-offs	(87)		(3,987)		—		(370)		(4,444)
Recoveries	24		255		9		74		362
Net (charge-offs) recoveries	(63)		(3,732)		9		(296)		(4,082)
Balance at end of period	$	20,610	$	16,444	$	9,826	$	1,251	$	48,131


	Three Months Ended September 30, 2023
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	20,690	$	15,216	$	9,284	$	2,003	$	47,193
Provision for credit losses	(30)		2,383		260		237		2,850
Charge-offs	(290)		(2,167)		(27)		(320)		(2,804)
Recoveries	1		94		31		52		178
Net (charge-offs) recoveries	(289)		(2,073)		4		(268)		(2,626)
Balance at end of period	$	20,371	$	15,526	$	9,548	$	1,972	$	47,417


	Nine Months Ended September 30, 2024
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	20,323	$	17,025	$	9,285	$	2,008	$	48,641

Provision for credit losses	558		7,381		442		54		8,435


Charge-offs	(295)		(8,795)		(60)		(1,021)		(10,171)
Recoveries	24		833		159		210		1,226
Net (charge-offs) recoveries	(271)		(7,962)		99		(811)		(8,945)
Balance at end of period	$	20,610	$	16,444	$	9,826	$	1,251	$	48,131


	Nine Months Ended September 30, 2023
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	15,059	$	12,382	$	9,048	$	2,370	$	38,859
Provision for credit losses	5,309		6,484		286		41		12,120
Initial ACL on PCD loans	292		72		5		—		369
Charge-offs	(290)		(3,830)		(96)		(667)		(4,883)
Recoveries	1		418		305		228		952
Net (charge-offs) recoveries	(289)		(3,412)		209		(439)		(3,931)
Balance at end of period	$	20,371	$	15,526	$	9,548	$	1,972	$	47,417

A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and the repayment is expected to be provided substantially through the operation or sale of collateral. The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, as well as collateral coverage for those loans for the periods indicated below:


	Type and Extent of Collateral Securing CDAs								Non-CDAs
September 30, 2024	Residential Property		Investment Property		Commercial Property		Business Assets					Total
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	—		$	300,905	$	300,905
Commercial real estate – owner occupied	—		—		6,495		—			538,194		544,689
Commercial real estate – non-owner occupied	—		—		4,276		—			877,064		881,340
Multifamily	—		—		—		—			114,155		114,155
Total commercial real estate	—		—		10,771		—			1,830,318		1,841,089
Commercial
Commercial and industrial	—		—		—		829			285,980		286,809
Equipment finance	—		—		—		4,536			438,497		443,033
Municipal leases	—		—		—		—			158,560		158,560

Total commercial	—		—		—		5,365			883,037		888,402
Residential real estate
Construction and land development	—		—		—		—			63,016		63,016
One-to-four family	—		—		—		—			627,845		627,845
HELOCs	—		—		—		—			194,909		194,909
Total residential real estate	—		—		—		—			885,770		885,770
Consumer	—		—		—		—			83,631		83,631
Total	$	—	$	—	$	10,771	$	5,365		$	3,682,756	$	3,698,892
Total collateral value	$	—	$	—	$	15,743	$	4,879


	Type and Extent of Collateral Securing CDAs								Non-CDAs
December 31, 2023	Residential Property		Investment Property		Commercial Property		Business Assets					Total
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	—		$	305,269	$	305,269
Commercial real estate – owner occupied	—		—		1,821		—			534,724		536,545
Commercial real estate – non-owner occupied	—		—		4,310		—			871,384		875,694
Multifamily	—		—		—		—			88,623		88,623
Total commercial real estate	—		—		6,131		—			1,800,000		1,806,131
Commercial
Commercial and industrial	—		—		—		1,322			235,933		237,255
Equipment finance	—		—		—		1,304			464,269		465,573
Municipal leases	—		—		—		—			150,292		150,292

Total commercial	—		—		—		2,626			850,494		853,120
Residential real estate
Construction and land development	—		—		—		—			96,646		96,646
One-to-four family	—		—		—		—			584,405		584,405
HELOCs	510		—		—		—			185,368		185,878
Total residential real estate	510		—		—		—			866,419		866,929
Consumer	—		—		—		—			113,842		113,842
Total	$	510	$	—	$	6,131	$	2,626		$	3,630,755	$	3,640,022
Total collateral value	$	733	$	—	$	5,627	$	686

Modifications to Borrowers Experiencing Financial Difficulty

The Company modifies loans to borrowers experiencing financial difficulty by providing principal forgiveness, a term extension, an other-than-insignificant payment delay or interest rate adjustments. In some cases, the Company provides multiple types of modifications on one loan. Typically, one type of modification, such as a term extension, is granted initially. If the borrower continues to experience financial difficulty, another modification, such as principal forgiveness, may be granted. For loans included in the combination columns in the table below, multiple types of modifications have been made on the same loan within the current reporting period.

The following table presents the amortized cost basis of loans at September 30, 2024, that were both experiencing financial difficulty and modified during the three and nine months ended September 30, 2024, by class and type of modification. The percentage of the amortized cost basis of loans that were modified to borrowers in financial difficulty as compared to the amortized cost basis of each class of financing receivable is also presented.


	Three Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment		Combination Term Extension & Principal Forgiveness		Combination Term Extension & Interest Rate Reduction		% of Total Class of Financing Receivable
Commercial real estate

Commercial real estate – owner-occupied	$	—	$	675	$	—	$	161	$	—	$	—	0.15	%


	Nine Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment		Combination Term Extension & Principal Forgiveness		Combination Term Extension & Interest Rate Reduction		% of Total Class of Financing Receivable
Commercial real estate

Commercial real estate – owner-occupied	$	—	$	675	$	—	$	161	$	—	$	—	0.15	%
Commercial real estate – non-owner-occupied	—		956		—		—		—		—		0.11	%

Commercial loans
Commercial and industrial	—		2,137		630		147		—		—		1.02	%







Total	$	—	$	3,768	$	630	$	308	$	—	$	—	0.10	%

The following table presents loans that had a payment default during the periods indicated that had previously been modified within the prior twelve months. For purposes of this table, a loan is considered to be in default when it becomes 30 days contractually past due under the modified terms.


	Three Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment
Commercial real estate


Commercial real estate – non-owner-occupied	$	—	$	305	$	—	$	—

Commercial loans
Commercial and industrial	—		637		—		—







Total	$	—	$	942	$	—	$	—


	Nine Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment
Commercial real estate


Commercial real estate – non-owner-occupied	$	—	$	1,261	$	—	$	—

Commercial loans
Commercial and industrial	—		637		—		—







Total	$	—	$	1,898	$	—	$	—

Off-Balance Sheet Credit Exposure

The Company maintains a separate reserve for credit losses on off-balance sheet credit exposures, including unfunded loan commitments, which is included in other liabilities on the consolidated balance sheet. The reserve for credit losses on off-balance sheet credit exposures is adjusted as a provision for credit losses in the consolidated statement of income. The estimate includes consideration of the likelihood that funding will occur and an estimate of ECLs on commitments expected to be funded over its estimated life, utilizing the same models and approaches for the Company's other loan portfolio segments described above, as these unfunded commitments share similar risk characteristics as its loan portfolio segments. The Company has identified the unfunded portion of certain lines of credit as unconditionally cancellable credit exposures, meaning the Company can cancel the unfunded commitment at any time. No credit loss estimate is reported for off-balance sheet credit exposures that are unconditionally cancellable by the Company or for undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement. At September 30, 2024 and December 31, 2023, the ACL on off-balance sheet credit exposures included in other liabilities was $2,552 and $2,587, respectively.

Loans and Allowance for Credit Losses on Loans - Modified Financing Receivable (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024
Financing Receivable, Modifications
% of Total Class of Financing Receivable		0.10%
Principal Forgiveness
Financing Receivable, Modifications
Amortized cost		$ 0
Modified, subsequent default	$ 0	0
Payment Delay
Financing Receivable, Modifications
Amortized cost		3,768
Modified, subsequent default	942	1,898
Term Extension
Financing Receivable, Modifications
Amortized cost		630
Modified, subsequent default	0	0
Interest Rate Adjustment
Financing Receivable, Modifications
Amortized cost		308
Modified, subsequent default	$ 0	0
Combination Term Extension & Principal Forgiveness
Financing Receivable, Modifications
Amortized cost		0
Combination Term Extension & Interest Rate Reduction
Financing Receivable, Modifications
Amortized cost		$ 0
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied
Financing Receivable, Modifications
% of Total Class of Financing Receivable	0.15%	0.15%
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Principal Forgiveness
Financing Receivable, Modifications
Amortized cost	$ 0	$ 0
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Payment Delay
Financing Receivable, Modifications
Amortized cost	675	675
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Term Extension
Financing Receivable, Modifications
Amortized cost	0	0
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Interest Rate Adjustment
Financing Receivable, Modifications
Amortized cost	161	161
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Combination Term Extension & Principal Forgiveness
Financing Receivable, Modifications
Amortized cost	0	0
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Combination Term Extension & Interest Rate Reduction
Financing Receivable, Modifications
Amortized cost	0	$ 0
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied
Financing Receivable, Modifications
% of Total Class of Financing Receivable		0.11%
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Principal Forgiveness
Financing Receivable, Modifications
Amortized cost		$ 0
Modified, subsequent default	0	0
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Payment Delay
Financing Receivable, Modifications
Amortized cost		956
Modified, subsequent default	305	1,261
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Term Extension
Financing Receivable, Modifications
Amortized cost		0
Modified, subsequent default	0	0
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Interest Rate Adjustment
Financing Receivable, Modifications
Amortized cost		0
Modified, subsequent default	0	0
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Combination Term Extension & Principal Forgiveness
Financing Receivable, Modifications
Amortized cost		0
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Combination Term Extension & Interest Rate Reduction
Financing Receivable, Modifications
Amortized cost		$ 0
Commercial \| Commercial and Industrial Loan
Financing Receivable, Modifications
% of Total Class of Financing Receivable		1.02%
Commercial \| Commercial and Industrial Loan \| Principal Forgiveness
Financing Receivable, Modifications
Amortized cost		$ 0
Modified, subsequent default	0	0
Commercial \| Commercial and Industrial Loan \| Payment Delay
Financing Receivable, Modifications
Amortized cost		2,137
Modified, subsequent default	637	637
Commercial \| Commercial and Industrial Loan \| Term Extension
Financing Receivable, Modifications
Amortized cost		630
Modified, subsequent default	0	0
Commercial \| Commercial and Industrial Loan \| Interest Rate Adjustment
Financing Receivable, Modifications
Amortized cost		147
Modified, subsequent default	$ 0	0
Commercial \| Commercial and Industrial Loan \| Combination Term Extension & Principal Forgiveness
Financing Receivable, Modifications
Amortized cost		0
Commercial \| Commercial and Industrial Loan \| Combination Term Extension & Interest Rate Reduction
Financing Receivable, Modifications
Amortized cost		$ 0

Deposit Accounts (Tables)

9 Months Ended

Sep. 30, 2024

Deposits [Abstract]

Schedule of Deposit Accounts

Deposit accounts at the dates indicated consist of the following:


	September 30, 2024		December 31, 2023
Noninterest-bearing accounts	$	684,501	$	784,950
NOW accounts	534,517		591,270
Money market accounts	1,345,289		1,246,807
Savings accounts	179,762		194,486
Certificates of deposit	1,017,519		843,860
Total	$	3,761,588	$	3,661,373

Schedule of Maturities of Certificates of Deposit

As of September 30, 2024, scheduled maturities of certificates of deposit were as follows:


Remainder of 2024	$	323,770
2025	675,894
2026	11,266
2027	4,586
2028	1,329
Thereafter	674
Total	$	1,017,519

Debt Securities (Tables)

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Schedule of Available-for-sale Securities Reconciliation

Debt securities available for sale consist of the following at the dates indicated:


	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

MBS, residential	$	132,026	$	2,041	$	(1,311)	$	132,756
Municipal bonds	3,460		—		(36)		3,424
Corporate bonds	5,000		—		(628)		4,372

Total	$	140,486	$	2,041	$	(1,975)	$	140,552


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

MBS, residential	$	105,477	$	1,194	$	(2,172)	$	104,499
Municipal bonds	3,487		—		(78)		3,409
Corporate bonds	20,000		—		(958)		19,042

Total	$	128,964	$	1,194	$	(3,208)	$	126,950

Investments Classified by Contractual Maturity Date

Debt securities available for sale by contractual maturity at September 30, 2024 and December 31, 2023 are shown below. MBS are not included in the maturity categories because the borrowers in the underlying pools may prepay without penalty; therefore, it is unlikely that the securities will pay at their stated maturity schedule.



	September 30, 2024
	Amortized Cost		Estimated Fair Value
Due within one year	$	1,525	$	1,522
Due after one year through five years	1,935		1,902
Due after five years through ten years	5,000		4,372
Due after ten years	—		—
MBS, residential	132,026		132,756
Total	$	140,486	$	140,552



	December 31, 2023
	Amortized Cost		Estimated Fair Value
Due within one year	$	15,000	$	14,848
Due after one year through five years	3,487		3,409
Due after five years through ten years	5,000		4,194
Due after ten years	—		—
MBS, residential	105,477		104,499
Total	$	128,964	$	126,950

Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value

The gross unrealized losses and the fair value for debt securities available for sale aggregated by the length of time that individual securities have been in a continuous unrealized loss position as of September 30, 2024 and December 31, 2023 were as follows:


	September 30, 2024
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

MBS, residential	$	19	$	—	$	68,509	$	(1,311)	$	68,528	$	(1,311)
Municipal bonds	—		—		3,424		(36)		3,424		(36)
Corporate bonds	—		—		3,622		(628)		3,622		(628)
Total	$	19	$	—	$	75,555	$	(1,975)	$	75,574	$	(1,975)


	December 31, 2023
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

MBS, residential	$	46,978	$	(393)	$	35,200	$	(1,779)	$	82,178	$	(2,172)
Municipal bonds	—		—		3,409		(78)		3,409		(78)
Corporate bonds	618		(132)		17,674		(826)		18,292		(958)
Total	$	47,596	$	(525)	$	56,283	$	(2,683)	$	103,879	$	(3,208)

Summary of Significant Accounting Policies	9 Months Ended
Summary of Significant Accounting Policies	Sep. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The consolidated unaudited financial statements presented in this report include the accounts of HomeTrust Bancshares, Inc., a Maryland corporation (“HomeTrust”), and its wholly-owned subsidiary, HomeTrust Bank (the “Bank”). As used throughout this report, the term the “Company” refers to HomeTrust and its consolidated subsidiary, unless the context otherwise requires. HomeTrust is a bank holding company primarily engaged in the business of planning, directing and coordinating the business activities of the Bank. The Bank is a North Carolina state chartered bank and provides a wide range of retail and commercial banking products within its geographic footprint, which includes: North Carolina (the Asheville metropolitan area, the "Piedmont" region, Charlotte and Raleigh/Cary), South Carolina (Greenville and Charleston), East Tennessee (Kingsport/Johnson City, Knoxville and Morristown), Southwest Virginia (the Roanoke Valley) and Georgia (Greater Atlanta). The Bank operates under a single set of corporate policies and procedures and is recognized as a single banking segment for financial reporting purposes. As a result of its merger with Quantum on February 12, 2023, HomeTrust became the 100% successor owner of the Quantum Capital Statutory Trust II Delaware trust. The sole assets of the trust represent the proceeds of offerings loaned in exchange for subordinated debentures with similar terms to the trust preferred securities. The accompanying unaudited consolidated financial statements have been prepared in accordance with US GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Transition Report on Form 10-KT for the six-month transition period ended December 31, 2023 ("2023 Form 10-KT") filed with the SEC on March 12, 2024. The results of operations for the nine months ended September 30, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024, the period which will be covered on a Report on Form 10-K. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified the determination of the provision and the ACL on loans as an accounting policy that, due to the judgments, estimates and assumptions inherent in the policy, is critical to an understanding of the Company's financial statements. This policy and the related judgments, estimates and assumptions are described in greater detail in the notes to the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies and Estimates) in the 2023 Form 10-KT. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to this critical accounting policy, the use of other judgments, estimates and assumptions could result in material differences in the Company's results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on these estimates and the Company's financial condition and operating results in future periods. Prior Period Disclosure Correction Within "Note 6 – Loans and Allowance for Credit Losses on Loans", the tables disclosing our credit risk profile by origination year as of December 31, 2023, beginning on page 18 of this document, reflect the correction of an immaterial error in the prior period disclosure. The correction of the disclosure error redistributed $264,101 in loans from the "Revolving" columns to the "Term Loans By Origination Fiscal Year" columns. The error's only impact was to the identified disclosure and therefore had no effect on net income or stockholders' equity as previously reported.

Debt Securities - Available for Sale Securities Continuous Unrealized Loss Position Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	$ 19	$ 47,596
12 Months or Longer, Fair Value	75,555	56,283
Total, Fair Value	75,574	103,879
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)
12 Months or More, Fair Value	0	(525)
12 Months or More, Unrealized Losses	(1,975)	(2,683)
Total, Unrealized Losses	(1,975)	(3,208)
MBS, residential
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	19	46,978
12 Months or Longer, Fair Value	68,509	35,200
Total, Fair Value	68,528	82,178
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)
12 Months or More, Fair Value	0	(393)
12 Months or More, Unrealized Losses	(1,311)	(1,779)
Total, Unrealized Losses	(1,311)	(2,172)
Municipal bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	0
12 Months or Longer, Fair Value	3,424	3,409
Total, Fair Value	3,424	3,409
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)
12 Months or More, Fair Value	0	0
12 Months or More, Unrealized Losses	(36)	(78)
Total, Unrealized Losses	(36)	(78)
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Less than 12 Months, Fair Value	0	618
12 Months or Longer, Fair Value	3,622	17,674
Total, Fair Value	3,622	18,292
Available-for-sale Securities, Continuous Unrealized Loss Position, Aggregate Loss [Abstract] (Deprecated 2018-01-31)
12 Months or More, Fair Value	0	(132)
12 Months or More, Unrealized Losses	(628)	(826)
Total, Unrealized Losses	$ (628)	$ (958)

Leases - Maturity Schedule for Finance and Operating Leases (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Operating Leases
Remainder of 2024	$ 460
2025	1,716
2026	1,707
2027	1,729
2028	1,539
Thereafter	4,413
Total undiscounted minimum lease payments	11,564
Less: amount representing interest	(1,647)
Lease liabilities	$ 9,917	$ 10,975

Commitment and Contingencies (Tables)

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Other Commitments

The table below presents details of loan commitments outstanding as of the dates indicated:


	September 30, 2024		December 31, 2023
Variable rate commitments	$	62,261	$	42,826
Fixed rate commitments(1)	32,157		27,682
Total loan commitments	$	94,418	$	70,508
Range of fixed interest rates	2.00% - 16.40%		2.11% - 11.25%

Undisbursed portions of construction loans	$	152,434	$	170,425
Pre-approved but unused lines of credit(2)	$	689,013	$	690,566

(1)Fixed rate commitments had terms ranging from three to 30 years as of each date presented.

(2)Principally second mortgage home equity loans and overdraft protection loans.

Debt Securities - Schedule of Investments Classified by Contractual Maturity Date (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost
Due within one year	$ 1,525	$ 15,000
Due after one year through five years	1,935	3,487
Due after five years through ten years	5,000	5,000
Due after ten years	0	0
Total	140,486	128,964
Estimated Fair Value
Due within one year	1,522	14,848
Due after one year through five years	1,902	3,409
Due after five years through ten years	4,372	4,194
Due after ten years	0	0
Estimated Fair Value	140,552	126,950
MBS, residential
Amortized Cost
Total	132,026	105,477
Estimated Fair Value
Estimated Fair Value	$ 132,756	$ 104,499

Loans Held For Sale (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Loans Held for Sale

Loans held for sale, at the lower of cost or fair value, consist of the following as of the dates indicated:


	September 30, 2024		December 31, 2023
One-to-four family	$	788	$	—
SBA	23,267		30,650
HELOCs	165,667		167,783

Total loans held for sale, at the lower of cost or fair value	$	189,722	$	198,433

Loans consist of the following at the dates indicated(1):


	September 30, 2024		December 31, 2023
Commercial real estate loans
Construction and land development	$	300,905	$	305,269
Commercial real estate – owner occupied	544,689		536,545
Commercial real estate – non-owner occupied	881,340		875,694
Multifamily	114,155		88,623
Total commercial real estate loans	1,841,089		1,806,131
Commercial loans
Commercial and industrial	286,809		237,255
Equipment finance	443,033		465,573
Municipal leases	158,560		150,292

Total commercial loans	888,402		853,120
Residential real estate loans
Construction and land development	63,016		96,646
One-to-four family	627,845		584,405
HELOCs	194,909		185,878
Total residential real estate loans	885,770		866,929
Consumer loans	83,631		113,842
Total loans, net of deferred loan fees and costs	3,698,892		3,640,022
ACL on loans	(48,131)		(48,641)
Loans, net	$	3,650,761	$	3,591,381

(1) At September 30, 2024 and December 31, 2023 accrued interest receivable of $16,679 and $16,218, respectively, was accounted for separately from the amortized cost basis.

The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, as well as collateral coverage for those loans for the periods indicated below:


	Type and Extent of Collateral Securing CDAs								Non-CDAs
September 30, 2024	Residential Property		Investment Property		Commercial Property		Business Assets					Total
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	—		$	300,905	$	300,905
Commercial real estate – owner occupied	—		—		6,495		—			538,194		544,689
Commercial real estate – non-owner occupied	—		—		4,276		—			877,064		881,340
Multifamily	—		—		—		—			114,155		114,155
Total commercial real estate	—		—		10,771		—			1,830,318		1,841,089
Commercial
Commercial and industrial	—		—		—		829			285,980		286,809
Equipment finance	—		—		—		4,536			438,497		443,033
Municipal leases	—		—		—		—			158,560		158,560

Total commercial	—		—		—		5,365			883,037		888,402
Residential real estate
Construction and land development	—		—		—		—			63,016		63,016
One-to-four family	—		—		—		—			627,845		627,845
HELOCs	—		—		—		—			194,909		194,909
Total residential real estate	—		—		—		—			885,770		885,770
Consumer	—		—		—		—			83,631		83,631
Total	$	—	$	—	$	10,771	$	5,365		$	3,682,756	$	3,698,892
Total collateral value	$	—	$	—	$	15,743	$	4,879


	Type and Extent of Collateral Securing CDAs								Non-CDAs
December 31, 2023	Residential Property		Investment Property		Commercial Property		Business Assets					Total
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	—		$	305,269	$	305,269
Commercial real estate – owner occupied	—		—		1,821		—			534,724		536,545
Commercial real estate – non-owner occupied	—		—		4,310		—			871,384		875,694
Multifamily	—		—		—		—			88,623		88,623
Total commercial real estate	—		—		6,131		—			1,800,000		1,806,131
Commercial
Commercial and industrial	—		—		—		1,322			235,933		237,255
Equipment finance	—		—		—		1,304			464,269		465,573
Municipal leases	—		—		—		—			150,292		150,292

Total commercial	—		—		—		2,626			850,494		853,120
Residential real estate
Construction and land development	—		—		—		—			96,646		96,646
One-to-four family	—		—		—		—			584,405		584,405
HELOCs	510		—		—		—			185,368		185,878
Total residential real estate	510		—		—		—			866,419		866,929
Consumer	—		—		—		—			113,842		113,842
Total	$	510	$	—	$	6,131	$	2,626		$	3,630,755	$	3,640,022
Total collateral value	$	733	$	—	$	5,627	$	686

Debt Securities

9 Months Ended

Sep. 30, 2024

Investments, Debt and Equity Securities [Abstract]

Debt Securities

Debt securities available for sale consist of the following at the dates indicated:


	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

MBS, residential	$	132,026	$	2,041	$	(1,311)	$	132,756
Municipal bonds	3,460		—		(36)		3,424
Corporate bonds	5,000		—		(628)		4,372

Total	$	140,486	$	2,041	$	(1,975)	$	140,552


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value

MBS, residential	$	105,477	$	1,194	$	(2,172)	$	104,499
Municipal bonds	3,487		—		(78)		3,409
Corporate bonds	20,000		—		(958)		19,042

Total	$	128,964	$	1,194	$	(3,208)	$	126,950



	September 30, 2024
	Amortized Cost		Estimated Fair Value
Due within one year	$	1,525	$	1,522
Due after one year through five years	1,935		1,902
Due after five years through ten years	5,000		4,372
Due after ten years	—		—
MBS, residential	132,026		132,756
Total	$	140,486	$	140,552



	December 31, 2023
	Amortized Cost		Estimated Fair Value
Due within one year	$	15,000	$	14,848
Due after one year through five years	3,487		3,409
Due after five years through ten years	5,000		4,194
Due after ten years	—		—
MBS, residential	105,477		104,499
Total	$	128,964	$	126,950

The Company had no sales of debt securities available for sale and no gross realized gains or losses were recognized during the nine months ended September 30, 2024 and 2023.

Debt securities available for sale with amortized costs totaling $19,310 and $43,846 and market values of $19,139 and $42,329 at September 30, 2024 and December 31, 2023, respectively, were pledged as collateral to secure various public deposits and other borrowings.


	September 30, 2024
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

MBS, residential	$	19	$	—	$	68,509	$	(1,311)	$	68,528	$	(1,311)
Municipal bonds	—		—		3,424		(36)		3,424		(36)
Corporate bonds	—		—		3,622		(628)		3,622		(628)
Total	$	19	$	—	$	75,555	$	(1,975)	$	75,574	$	(1,975)


	December 31, 2023
	Less than 12 Months				12 Months or More				Total
	Fair Value		Unrealized Losses		Fair Value		Unrealized Losses		Fair Value		Unrealized Losses

MBS, residential	$	46,978	$	(393)	$	35,200	$	(1,779)	$	82,178	$	(2,172)
Municipal bonds	—		—		3,409		(78)		3,409		(78)
Corporate bonds	618		(132)		17,674		(826)		18,292		(958)
Total	$	47,596	$	(525)	$	56,283	$	(2,683)	$	103,879	$	(3,208)

The total number of securities with unrealized losses at September 30, 2024 and December 31, 2023 were 157 and 187, respectively.

Management evaluates securities for impairment where there has been a decline in fair value below the amortized cost basis of a security to determine whether there is a credit loss associated with the decline in fair value on at least a quarterly basis, and more frequently when economic or market concerns warrant such evaluation. All debt securities available for sale in an unrealized loss position as of September 30, 2024 continue to perform as scheduled and management does not believe that there is a credit loss or that a provision for credit losses is necessary. Also, as part of management's evaluation of its intent and ability to hold investments for a period of time sufficient to allow for any anticipated recovery in the market, management considers its investment strategy, cash flow needs, liquidity position, capital adequacy and interest rate risk position. Management does not currently intend to sell the securities within the portfolio and it is not more-likely-than-not that securities will be required to be sold. See "Note 1 – Summary of Significant Accounting Policies" in our 2023 Form 10-KT for further discussion.

Management continues to monitor all of its securities with a high degree of scrutiny. There can be no assurance that management will not conclude in future periods that conditions existing at that time indicate some or all of its securities may be sold or would require a charge to earnings as a provision for credit losses in such periods.

Management excludes the accrued interest receivable balance from the amortized cost basis in measuring ECL on investment securities and does not record an ACL on accrued interest receivable. As of September 30, 2024 and December 31, 2023, accrued interest receivable for debt securities available for sale was $494 and $469, respectively.

Borrowings (Tables)

9 Months Ended

Sep. 30, 2024

Federal Home Loan Banks [Abstract]

Schedule of Debt

Borrowings, outside of junior subordinated debt, consist of the following at the dates indicated:


	September 30, 2024				December 31, 2023
	Balance		Weighted Average Rate		Balance		Weighted Average Rate
FHLB advances (short-term)	$	100,000	5.07	%	$	105,000	5.44	%
FRB advances (short-term)	154,000		5.00		310,000		5.50
Revolving lines of credit	6,013		8.50		18,763		9.00
Total other borrowings	$	260,013	5.11	%	$	433,763	5.64	%

Borrowings - Narrative (Details) $ in Thousands	9 Months Ended
Borrowings - Narrative (Details) $ in Thousands	Sep. 30, 2024 USD ($) bank	Dec. 31, 2023 USD ($) bank
Debt Instrument [Line Items]
Amount available to borrow in additional FHLB advances	$ 162,189	$ 72,766
Number of unaffiliated banks \| bank	3	3
Balance	$ 260,013	$ 433,763
Revolving lines of credit
Debt Instrument [Line Items]
Balance	6,013	18,763
Line of credit facility, maximum borrowing capacity	$ 40,000	40,000
Revolving lines of credit \| Base Rate
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
FRB \| Revolving lines of credit
Debt Instrument [Line Items]
Unused line of credit	$ 170,507	55,254
Unaffiliated Banks \| Revolving lines of credit
Debt Instrument [Line Items]
Unused line of credit	$ 158,987	$ 146,237

Subsequent Event	9 Months Ended
Subsequent Event	Sep. 30, 2024
Subsequent Events [Abstract]
Subsequent Event	Subsequent Event Hurricane Helene made landfall on September 26, 2024, causing significant property damage across certain parts of our market areas, particularly in Western North Carolina. This resulted in widespread disruptions in power, water, internet and cellular service. The Bank remained functionally operational throughout the storm and, as of November 8, 2024, all of our banking locations were open and most of the affected areas in our markets were recovering well. We do, however, expect to experience increased loan delinquencies and loan restructurings as a result of the storm, particularly in the short-term, as customers undertake recovery and clean-up efforts, including the submission of insurance claims. In order to assist our customers, we continue to offer payment deferrals of up to six months. Through November 8, 2024, customers with loan balances totaling approximately $120.0 million have accepted such a deferment. Based on our initial assessments of the potential credit impact and damage, during the quarter ended September 30, 2024, we recorded a qualitative allocation of $2.2 million in our allowance for credit losses for the potential impact of the storm upon our loan portfolio. Although the total impact of the storm will not be known for some time, through November 8, 2024, no concerns have been raised regarding the adequacy of the reserve established at September 30, 2024.

Consolidated Balance Sheets (Parentheticals) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Debt securities available for sale, at fair value, amortized cost	$ 140,486	$ 128,964
Preferred stock par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock authorized shares	10,000,000	10,000,000
Preferred stock issued shares	0	0
Preferred stock shares outstanding	0	0
Common stock par value (in dollars per share)	$ 0.01	$ 0.01
Common stock shares authorized	60,000,000	60,000,000
Common stock shares issued	17,514,922	17,387,069
Common stock shares outstanding	17,514,922	17,387,069

Loans and Allowance for Credit Losses on Loans - Schedule of Allowance for Credit Losses on Financing Receivables After Adoption of ASU 2016-13 (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	$ 49,223	$ 47,193	$ 48,641	$ 38,859
Provision for credit losses	2,990	2,850	8,435	12,120
Initial ACL on PCD loans				369
Charge-offs	(4,444)	(2,804)	(10,171)	(4,883)
Recoveries	362	178	1,226	952
Net (charge-offs) recoveries	(4,082)	(2,626)	(8,945)	(3,931)
Balance at end of period	48,131	47,417	48,131	47,417
Commercial Real Estate
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	20,539	20,690	20,323	15,059
Provision for credit losses	134	(30)	558	5,309
Initial ACL on PCD loans				292
Charge-offs	(87)	(290)	(295)	(290)
Recoveries	24	1	24	1
Net (charge-offs) recoveries	(63)	(289)	(271)	(289)
Balance at end of period	20,610	20,371	20,610	20,371
Commercial
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	18,115	15,216	17,025	12,382
Provision for credit losses	2,061	2,383	7,381	6,484
Initial ACL on PCD loans				72
Charge-offs	(3,987)	(2,167)	(8,795)	(3,830)
Recoveries	255	94	833	418
Net (charge-offs) recoveries	(3,732)	(2,073)	(7,962)	(3,412)
Balance at end of period	16,444	15,526	16,444	15,526
Residential
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	9,103	9,284	9,285	9,048
Provision for credit losses	714	260	442	286
Initial ACL on PCD loans				5
Charge-offs	0	(27)	(60)	(96)
Recoveries	9	31	159	305
Net (charge-offs) recoveries	9	4	99	209
Balance at end of period	9,826	9,548	9,826	9,548
Consumer Portfolio
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Balance at beginning of period	1,466	2,003	2,008	2,370
Provision for credit losses	81	237	54	41
Initial ACL on PCD loans				0
Charge-offs	(370)	(320)	(1,021)	(667)
Recoveries	74	52	210	228
Net (charge-offs) recoveries	(296)	(268)	(811)	(439)
Balance at end of period	$ 1,251	$ 1,972	$ 1,251	$ 1,972

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Consolidated Statements of Income - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest and dividend income
Loans	$ 63,305	$ 58,496	$ 185,418	$ 162,526
Debt securities available for sale	1,616	1,259	4,424	3,780
Other investments and interest-bearing deposits	1,728	2,110	5,576	5,356
Total interest and dividend income	66,649	61,865	195,418	171,662
Interest expense
Deposits	23,692	16,429	65,693	36,955
Junior subordinated debt	235	236	705	563
Borrowings	648	3,040	3,550	6,634
Total interest expense	24,575	19,705	69,948	44,152
Net interest income	42,074	42,160	125,470	127,510
Provision for credit losses	2,975	2,570	8,400	11,735
Net interest income after provision for credit losses	39,099	39,590	117,070	115,775
Noninterest income
Service charges and fees on deposit accounts	2,336	2,318	6,839	6,967
Loan income and fees	684	559	2,009	1,913
Gain on sale of loans held for sale	1,900	1,293	5,185	4,213
BOLI income	828	1,749	3,470	2,844
Operating lease income	1,637	1,785	5,087	4,515
Gain (loss) on sale of premises and equipment	0	0	(9)	982
Other	897	923	2,625	2,391
Total noninterest income	8,282	8,627	25,206	23,825
Noninterest expense
Salaries and employee benefits	17,082	16,514	50,666	49,436
Occupancy expense, net	2,436	2,489	7,292	7,556
Computer services	3,192	3,173	9,396	9,386
Telephone, postage and supplies	547	652	1,712	1,942
Marketing and advertising	408	487	1,659	1,555
Deposit insurance premiums	589	717	1,674	1,878
Core deposit intangible amortization	567	859	1,896	2,324
Merger-related expenses	0	0	0	4,741
Other	5,764	4,673	16,364	14,490
Total noninterest expense	30,585	29,564	90,659	93,308
Income before income taxes	16,796	18,653	51,617	46,292
Income tax expense	3,684	3,820	11,020	9,712
Net income	$ 13,112	$ 14,833	$ 40,597	$ 36,580
Net income per common share
Basic (in dollars per share)	$ 0.77	$ 0.88	$ 2.38	$ 2.19
Diluted (in dollars per share)	$ 0.76	$ 0.88	$ 2.37	$ 2.18
Average shares outstanding
Basic (in shares)	16,931,793	16,792,177	16,891,619	16,532,335
Diluted (in shares)	17,027,824	16,800,901	16,938,328	16,553,319

Loans and Allowance for Credit Losses on Loans - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		20 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable
Off-balance-sheet, credit loss, liability, credit loss expense (reversal)	$ 15	$ 280	$ 35	$ 385
Provision for credit losses	2,990	$ 2,850	8,435	12,120
Reserve for credit losses for off-balance sheet credit exposures included in other liabilities	2,552		2,552		$ 2,552	$ 2,587
Quantum
Accounts, Notes, Loans and Financing Receivable
Provision for credit losses				4,921
Recognition of an ACL on PCD loans				$ 369	369
Executive Officers, Directors, and Associates \| Related Party
Accounts, Notes, Loans and Financing Receivable
Loans, net	253		253		253	209
Executive Officers, Directors, and Associates \| Related Party \| Unfunded Loan Commitment
Accounts, Notes, Loans and Financing Receivable
Loans, net	$ 3		$ 3		$ 3	$ 3

Leases (Tables)

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Assets and Liabilities, Lessee

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



	September 30, 2024			December 31, 2023
Supplemental balance sheet information
ROU assets	$	8,373		$	9,259

Lease liabilities	$	9,917		$	10,975

Weighted-average remaining lease terms (years)	8.4			8.8
Weighted-average discount rate	3.46		%	3.41		%

Lessee, Operating Lease, Liability, Maturity

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2024:



Remainder of 2024	$	460
2025	1,716
2026	1,707
2027	1,729
2028	1,539
Thereafter	4,413
Total undiscounted minimum lease payments	11,564
Less: amount representing interest	(1,647)
Total lease liability	$	9,917

Lease, Cost

The following table presents components of operating lease expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost (included in occupancy expense, net)	$	407	$	430	$	1,221	$	1,240
Variable lease cost (included in occupancy expense, net)	1		1		4		3
Sublease income (included in other noninterest income)	(43)		(42)		(128)		(126)
Total operating lease expense, net	$	365	$	389	$	1,097	$	1,117

upplemental lease cash flow information for the periods indicated:


	Nine Months Ended September 30,
	2024		2023
ROU assets - noncash additions (operating leases)	$	—	$	3,956

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	1,140		1,019
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	—		22

Schedule of Total Equipment Finance Operating Lease Income and Depreciation Expense

The following table presents total equipment finance operating lease income and depreciation expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease income	$	1,637	$	1,785	$	5,087	$	4,515
Depreciation expense	2,102		1,393		5,666		3,924

Lessor, Operating Lease, Payments to be Received, Maturity

The following schedule summarizes aggregate future minimum lease payments to be received at September 30, 2024:



Remainder of 2024	$	2,170
2025	7,924
2026	6,001
2027	3,410
2028	3,134
Thereafter	4,045
Total of future minimum payments	$	26,684

Sales-type and Direct Financing Leases, Lease Receivable, Maturity

The following schedule summarizes, as of September 30, 2024, aggregate future minimum finance lease payments to be received:



Remainder of 2024	$	7,891
2025	24,024
2026	20,199
2027	15,546
2028	9,013
Thereafter	6,627
Total undiscounted minimum lease payments	83,300
Less: amount representing interest	(11,175)
Total lease receivable	$	72,125

Leases - Lessee - Finance Lease (Details) $ in Thousands	3 Months Ended
Leases - Lessee - Finance Lease (Details) $ in Thousands	Mar. 31, 2023 USD ($)
Leases [Abstract]
Payments to acquire real estate	$ 1,249
Finance lease, interest expense	$ 15

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Feb. 12, 2023
Revision of Prior Period, Error Correction, Adjustment
Business Acquisition [Line Items]
Financing receivable, excluding accrued interest, revolving	$ 264,101
Quantum
Business Acquisition [Line Items]
Business acquisition, percentage of voting interests acquired		100.00%

Equity Incentive Plan - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended		12 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Options
Options Outstanding, Beginning of Period (in shares)	534,350	849,623	849,623
Exercised (in shares)	(82,113)	(279,549)
Forfeited (in shares)	(23,600)	(27,724)
Options Outstanding, End of period (in shares)	428,637	542,350	534,350	849,623
Exercisable (in shares)	379,667	467,390
Weighted-Average Exercise Price
Options Outstanding, Beginning of Period (in usd per share)	$ 25.85	$ 22.06	$ 22.06
Exercised (in usd per share)	24.65	14.66
Forfeited (in usd per share)	25.94	25.39
Options Outstanding, End of Period (in usd per share)	26.07	25.70	$ 25.85	$ 22.06
Exercisable (in usd per share)	$ 25.85	$ 25.40
Remaining contractual life (years)	4 years	4 years 9 months 18 days	4 years 7 months 6 days	3 years 10 months 24 days
Exercisable (in years)	3 years 8 months 12 days	4 years 4 months 24 days
Aggregate intrinsic value	$ 3,433	$ 157	$ 776	$ 2,958
Aggregate intrinsic value	$ 3,124	$ 157
Non-vested Options
Nonvested, number of shares (in shares)	48,970	74,960
Nonvested, weighted average grant date fair value (in dollars per share)	$ 27.77	$ 27.58
Nonvested, contractual term (in years)	6 years 10 months 24 days	7 years 8 months 12 days
Nonvested, intrinsic value	$ 309	$ 0

Commitments and Contingencies - Loan Commitments Outstanding (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Other Commitments
Variable rate commitments	$ 62,261	$ 42,826
Fixed rate commitments	32,157	27,682
Total loan commitments	94,418	70,508
Unused commitments to extend credit	$ 689,013	$ 690,566
Minimum
Other Commitments
Range of fixed interest rates	2.00%	2.11%
Loan commitments terms	3 years
Maximum
Other Commitments
Range of fixed interest rates	16.40%	11.25%
Loan commitments terms	30 years
Construction and development
Other Commitments
Unused commitments to extend credit	$ 152,434	$ 170,425

Loans and Allowance for Credit Losses on Loans - Schedule of Past Due Loans Still Accruing and Nonaccruing Interest (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	$ 28,906	$ 19,333
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	9,334
Interest Income Recognized	456
Commercial Real Estate
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	11,274	5,018
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	5,370
Interest Income Recognized	113
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	7,215	912
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	5,370
Interest Income Recognized	70
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	4,004	4,032
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	39
Commercial Real Estate \| Multifamily Loan
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	55	74
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	4
Commercial
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	12,521	9,237
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	3,964
Interest Income Recognized	222
Commercial \| Commercial and Industrial Loan
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	3,978	2,774
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	643
Interest Income Recognized	56
Commercial \| Equipment Finance
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	8,543	6,463
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	3,321
Interest Income Recognized	166
Residential
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	4,711	4,510
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	104
Residential \| Construction Loans
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	132	132
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	0
Residential \| One-To-Four Family Loan
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	2,102	2,205
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	70
Residential \| HELOC's Loan
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	2,477	2,173
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	34
Consumer Portfolio
Accounts, Notes, Loans and Financing Receivable
Financing Receivable, Excluding Accrued Interest, Nonaccrual	400	$ 568
Financing Receivable, Excluding Accrued Interest, 90 Days or More Past Due, Still Accruing	0
Financing Receivable, Excluding Accrued Interest, Nonaccrual, No Allowance	0
Interest Income Recognized	$ 17

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2024	Nov. 01, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	001-35593
Entity Registrant Name	HOMETRUST BANCSHARES, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	45-5055422
Entity Address, Address Line One	10 Woodfin Street
Entity Address, City or Town	Asheville
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28801
City Area Code	828
Local Phone Number	259-3939
Title of 12(b) Security	Common Stock, par value $.01 per share
Trading Symbol	HTBI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		17,529,922
Entity Central Index Key	0001538263
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Commitments and Contingencies

9 Months Ended

Sep. 30, 2024

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

Loan Commitments – Legally binding commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many commitments may expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. In the normal course of business, there are various outstanding commitments to extend credit that are not reflected in the consolidated financial statements.

The table below presents details of loan commitments outstanding as of the dates indicated:


	September 30, 2024		December 31, 2023
Variable rate commitments	$	62,261	$	42,826
Fixed rate commitments(1)	32,157		27,682
Total loan commitments	$	94,418	$	70,508
Range of fixed interest rates	2.00% - 16.40%		2.11% - 11.25%

Undisbursed portions of construction loans	$	152,434	$	170,425
Pre-approved but unused lines of credit(2)	$	689,013	$	690,566

(1)Fixed rate commitments had terms ranging from three to 30 years as of each date presented.

(2)Principally second mortgage home equity loans and overdraft protection loans.

The commitments presented in the above table represent the Company’s exposure to credit risk and, in the opinion of management, have no more than the normal lending risk that the Company commits to its borrowers.

The Company has two types of commitments related to certain one-to-four family loans held for sale: rate lock commitments and forward loan commitments. Rate lock commitments are commitments to extend credit to a customer that has an interest rate lock and are considered derivative instruments. The rate lock commitments do not qualify for hedge accounting. In order to mitigate the risk from interest rate fluctuations, the Company enters into forward loan sale commitments such as TBAs, mandatory delivery commitments with investors, or best efforts forward sale commitments with investors. The fair value of these interest rate lock commitments was not material at September 30, 2024 or December 31, 2023.

SBIC Commitments – As of September 30, 2024, the Company had committed $28,000 across nine SBIC investments with $8,598 remaining to be drawn, while as of December 31, 2023, the Company had committed $24,000 across eight SBIC investments with $7,984 remaining to be drawn. Although the remaining capital commitments may or may not be called in the future, under the terms of the associated limited partnership agreements, the Company's exposure will not extend beyond the amount of the original commitments.

Guarantees – Standby letters of credit obligate the Company to meet certain financial obligations of its customers, if, under the contractual terms of the agreement, the customers are unable to do so. The financial standby letters of credit issued by the Company are irrevocable and payment is only guaranteed upon the borrower's failure to perform its obligations to the beneficiary. Total commitments under standby letters of credit as of September 30, 2024 and December 31, 2023 were $52,686 and $50,897, respectively. There was no liability recorded for these letters of credit at September 30, 2024 or December 31, 2023.

Litigation – From time to time, the Company is involved in litigation matters in the ordinary course of business. These proceedings and the associated legal claims are often contested, and the outcome of individual matters is not always predictable. These claims and counter claims typically arise during the course of collection efforts on problem loans or with respect to actions to enforce liens on properties in which the Company holds a security interest. The Company is not a party to any pending legal proceedings that management believes would have a material adverse effect on the Company’s financial condition or results of operations.

Equity Incentive Plan - Schedule of Nonvested Restricted Stock Units and Performance-Based Restricted Stock Units Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022
Weighted- Average Grant Date Fair Value
Aggregate intrinsic value	$ 3,124	$ 157
Restricted Stock
Restricted Stock Awards(1)
Non-vested, Beginning Balance (in shares)	106,143	100,992
Granted (in shares)	73,502	54,339
Vested (in shares)	(36,639)	(41,590)
Forfeited (in shares)	(2,211)	(5,520)
Non-vested, Ending Balance (in shares)	140,795	108,221
Weighted- Average Grant Date Fair Value
Non-vested, Beginning Balance (in usd per share)	$ 27.70	$ 27.28
Granted (in usd per share)	26.96	27.39
Vested (in usd per share)	28.26	26.07
Forfeited (in dollars per share)	27.36	27.14
Non-vested, Ending Balance (in usd per share)	$ 27.16	$ 27.69
Aggregate intrinsic value	$ 5,872	$ 2,887	$ 3,530	$ 2,033
Restricted Stock \| Share-Based Payment Arrangement, Nonemployee
Weighted- Average Grant Date Fair Value
Vesting period	1 year
Restricted Stock \| Share-Based Payment Arrangement, Employee
Weighted- Average Grant Date Fair Value
Vesting period	5 years
Performance-Based Restricted Stock Units
Restricted Stock Awards(1)
Non-vested, Beginning Balance (in shares)	25,001	22,843
Granted (in shares)	17,690	23,684
Vested (in shares)	(10,683)	(18,494)
Forfeited (in shares)	(501)	(3,032)
Non-vested, Ending Balance (in shares)	31,507	25,001
Weighted- Average Grant Date Fair Value
Vesting period	3 years

Borrowings

9 Months Ended

Sep. 30, 2024

Federal Home Loan Banks [Abstract]

Borrowings

Junior Subordinated Debentures

On February 21, 2007, Quantum formed a Connecticut statutory trust, Quantum Capital Statutory Trust II (the "Trust"), which issued $11,000 of trust preferred securities that were designed to qualify as Tier I capital under Federal Reserve Board guidelines. All of the common securities of the Trust were owned by Quantum. The proceeds from the issuance of the common securities and the trust preferred securities were used by the Trust to purchase $11,341 of junior subordinated debentures of Quantum. As a result of its merger with Quantum on February 12, 2023, HomeTrust became the 100% successor owner of the Trust.

The trust preferred securities accrue and pay quarterly distributions at a floating rate of 3-month Term SOFR plus 2.20%, which was 6.79% at September 30, 2024. The Company has guaranteed distributions and other payments due on the trust preferred securities to the extent the Trust has insufficient funds with which to make the distributions and other payments. The net combined effect of all documents entered into in connection with the trust preferred securities is that the Company is liable to make the distributions and other payments required on the trust preferred securities.

The trust preferred securities are mandatorily redeemable upon maturity of the debentures on March 15, 2037, or upon earlier redemption as provided in the indenture. The Company has the right to redeem the debentures purchased by the Trust, in whole or in part, on or after March 15, 2012. As specified in the indenture, if the debentures are redeemed prior to maturity, the redemption price will be the principal amount and any accrued but unpaid interest.

Other Borrowings

Borrowings, outside of junior subordinated debt, consist of the following at the dates indicated:


	September 30, 2024				December 31, 2023
	Balance		Weighted Average Rate		Balance		Weighted Average Rate
FHLB advances (short-term)	$	100,000	5.07	%	$	105,000	5.44	%
FRB advances (short-term)	154,000		5.00		310,000		5.50
Revolving lines of credit	6,013		8.50		18,763		9.00
Total other borrowings	$	260,013	5.11	%	$	433,763	5.64	%

All qualifying one-to-four family loans, HELOCs, commercial real estate loans, multifamily loans and FHLB of Atlanta stock are pledged as collateral to secure outstanding FHLB advances while commercial construction, indirect auto, and equipment and municipal leases are pledged as collateral to secure outstanding FRB advances. At September 30, 2024 and December 31, 2023, the Company had the ability to borrow $162,189 and $72,766, respectively, through additional FHLB advances and $170,507 and $55,254, respectively, through the unused portion of a line of credit with the FRB.

At September 30, 2024 and December 31, 2023, the Company maintained revolving lines of credit with three unaffiliated banks, the unused portions of which totaled $158,987 and $146,237, respectively. At September 30, 2024 and December 31, 2023, HomeTrust had drawn $6,013 and $18,763, respectively, on a $40,000 revolving line of credit which bears interest at The Wall Street Journal prime rate plus 50 basis points, maturing on January 28, 2025, although the term may be extended for an additional year if no events of default have occurred.

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 13,112	$ 14,833	$ 40,597	$ 36,580

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(g)(1)(ii))
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 323
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147482765/220-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
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-URI https://asc.fasb.org//1943274/2147483443/250-10-50-3

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Subparagraph (a)
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/exampleRef
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-Section 55
-Paragraph 10
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-URI https://asc.fasb.org//1943274/2147480167/946-830-55-10

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
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-Paragraph 7
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-URI https://asc.fasb.org//1943274/2147483581/946-220-45-7

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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Reference 25: http://www.xbrl.org/2003/role/disclosureRef
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
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Reference 27: http://www.xbrl.org/2003/role/disclosureRef
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Reference 28: http://www.xbrl.org/2003/role/disclosureRef
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Reference 29: http://www.xbrl.org/2003/role/disclosureRef
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Reference 30: http://www.xbrl.org/2003/role/disclosureRef
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Reference 31: http://www.xbrl.org/2003/role/disclosureRef
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Reference 32: http://www.xbrl.org/2003/role/exampleRef
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Reference 33: http://www.xbrl.org/2003/role/disclosureRef
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Reference 34: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483499/205-20-50-7

Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef
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-Section 45
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-URI https://asc.fasb.org//1943274/2147482740/230-10-45-28

Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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-SubTopic 10
-Name Accounting Standards Codification
-Section 45
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Reference 37: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1

+ Details

Deposit Accounts - Certificates of Deposit With Balances of $250 Or Greater (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits [Abstract]
Certificates of deposit with balances of $250 or greater	$ 158,523	$ 118,035

Leases - Total Equipment Finance Operating Lease Income and Depreciation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease income	$ 1,637	$ 1,785	$ 5,087	$ 4,515
Depreciation expense	$ 2,102	$ 1,393	$ 5,666	$ 3,924

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Stockholders' Equity [Abstract]
Common stock, dividends, declared (in dollars per share)	$ 0.00011	$ 0.00010	$ 0.00033	$ 0.00030

Borrowings - Junior Subordinated Debentures (Details) - USD ($) $ in Thousands		9 Months Ended
	Feb. 21, 2007	Sep. 30, 2024	Feb. 12, 2023
Quantum
Debt Instrument [Line Items]
Business acquisition, percentage of voting interests acquired			100.00%
Junior Subordinated Debt
Debt Instrument [Line Items]
Debt instrument, face amount	$ 11,341
Junior Subordinated Debt \| SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.20%
Debt instrument, interest rate, effective percentage		6.79%
Quantum
Debt Instrument [Line Items]
Trust preferred securities	$ 11,000

Loans Held For Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable
Total loans held for sale, at the lower of cost or fair value	$ 189,722	$ 198,433
Loans held for sale, at fair value	2,968	3,359
Amortized cost of loans held for sale	2,914	3,286
One-to-four family
Accounts, Notes, Loans and Financing Receivable
Total loans held for sale, at the lower of cost or fair value	788	0
SBA
Accounts, Notes, Loans and Financing Receivable
Total loans held for sale, at the lower of cost or fair value	23,267	30,650
HELOCs
Accounts, Notes, Loans and Financing Receivable
Total loans held for sale, at the lower of cost or fair value	$ 165,667	$ 167,783

Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following table presents financial assets measured at fair value on a recurring basis at the dates indicated:


	September 30, 2024
	Total		Level 1		Level 2		Level 3
Debt securities available for sale

MBS, residential	$	132,756	$	—	$	132,756	$	—
Municipal bonds	3,424		—		3,424		—
Corporate bonds	4,372		—		4,372		—
Total debt securities available for sale	$	140,552	$	—	$	140,552	$	—

Loans held for sale	$	2,968	$	—	$	2,968	$	—


	December 31, 2023
	Total		Level 1		Level 2		Level 3
Debt securities available for sale

MBS, residential	$	104,499	$	—	$	104,499	$	—
Municipal bonds	3,409		—		3,409		—
Corporate bonds	19,042		—		19,042		—
Total debt securities available for sale	$	126,950	$	—	$	126,950	$	—

Loans held for sale	$	3,359	$	—	$	3,359	$	—

Fair Value Measurements, Nonrecurring

The following table presents financial assets measured at fair value on a non-recurring basis at the dates indicated:


	September 30, 2024
	Total		Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate loans
Commercial real estate – owner occupied	$	593	$	—	$	—	$	593
Commercial real estate – non-owner occupied	3,186		—		—		3,186
Commercial loans
Commercial and industrial	240		—		—		240
Equipment finance	768		—		—		768



Total	$	4,787	$	—	$	—	$	4,787


	December 31, 2023
	Total		Level 1		Level 2		Level 3
Collateral dependent loans
Commercial real estate loans
Commercial real estate – owner occupied	$	438	$	—	$	—	$	438
Commercial loans
Commercial and industrial	108		—		—		108
Equipment finance	578		—		—		578


Total	$	1,124	$	—	$	—	$	1,124

Fair Value, by Balance Sheet Grouping

The stated carrying value and estimated fair value amounts of financial instruments as of September 30, 2024 and December 31, 2023, are summarized below:


	September 30, 2024
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	293,477	$	293,477	$	293,477	$	—	$	—

Certificates of deposit in other banks	29,290		29,290		—		29,290		—
Debt securities available for sale, at fair value	140,552		140,552		—		140,552		—
FHLB and FRB stock	18,384		N/A		N/A		N/A		N/A
SBIC investments, at cost	15,489		15,489		—		—		15,489
Loans held for sale, at fair value	2,968		2,968		2,968		—		—
Loans held for sale, at the lower of cost or fair value	189,722		191,792		—		—		191,792
Loans, net	3,650,761		3,568,832		—		—		3,568,832
Accrued interest receivable	17,523		17,523		229		615		16,679
Liabilities
Noninterest-bearing and NOW deposits	1,219,018		1,219,018		—		1,219,018		—
Money market accounts	1,345,289		1,345,289		—		1,345,289		—
Savings accounts	179,762		179,762		—		179,762		—
Certificates of deposit	1,017,519		1,018,102		—		1,018,102		—
Junior subordinated debt	10,096		9,802		—		9,802		—
Borrowings	260,013		260,185		—		260,185		—
Accrued interest payable	10,796		10,796		—		10,796		—


	December 31, 2023
	Carrying Value		Fair Value		Level 1		Level 2		Level 3
Assets
Cash and cash equivalents	$	347,140	$	347,140	$	347,140	$	—	$	—

Certificates of deposit in other banks	34,722		34,722		—		34,722		—
Debt securities available for sale, at fair value	126,950		126,950		—		126,950		—
FHLB and FRB stock	18,393		N/A		N/A		N/A		N/A
SBIC investments, at cost	13,789		13,789		—		—		13,789
Loans held for sale, at fair value	3,359		3,359		3,359		—		—
Loans held for sale, at the lower of cost or fair value	198,433		200,869		—		—		200,869
Loans, net	3,591,381		3,472,491		—		—		3,472,491
Accrued interest receivable	16,902		16,902		107		656		16,139
Liabilities
Noninterest-bearing and NOW deposits	1,376,220		1,376,220		—		1,376,220		—
Money market accounts	1,246,807		1,246,807		—		1,246,807		—
Savings accounts	194,486		194,486		—		194,486		—
Certificates of deposit	843,860		839,501		—		839,501		—
Junior subordinated debt	10,021		9,767		—		9,767		—
Borrowings	433,763		433,747		—		433,747		—
Accrued interest payable	6,849		6,849		—		6,849		—

Equity Incentive Plan (Tables)

9 Months Ended

Sep. 30, 2024

Share-Based Payment Arrangement [Abstract]

Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs

The table below presents share-based compensation expense and the estimated related tax benefit for stock options and restricted stock for the dates indicated below:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Share-based compensation expense	$	541	$	383	$	1,363	$	1,206
Tax benefit	128		90		323		283

Equity Incentive Plan Stock Option Activity

The table below presents stock option activity and related information for the nine months ended September 30, 2024 and 2023:


	Options	Weighted-Average Exercise Price		Remaining Contractual Life (Years)	Aggregate Intrinsic Value
Options outstanding at December 31, 2022	849,623	$	22.06	3.9	$	2,958


Exercised	(279,549)	14.66
Forfeited	(27,724)	25.39

Options outstanding at September 30, 2023	542,350	$	25.70	4.8	$	157
Exercisable at September 30, 2023	467,390	$	25.40	4.4	$	157
Non-vested at September 30, 2023	74,960	$	27.58	7.7	$	—

Options outstanding at December 31, 2023	534,350	$	25.85	4.6	$	776

Exercised	(82,113)	24.65
Forfeited	(23,600)	25.94

Options outstanding at September 30, 2024	428,637	$	26.07	4.0	$	3,433
Exercisable at September 30, 2024	379,667	$	25.85	3.7	$	3,124
Non-vested at September 30, 2024	48,970	$	27.77	6.9	$	309

Schedule of Nonvested Restricted Stock Units Activity

The table below presents restricted stock award activity and related information:


	Restricted Stock Awards(1)	Performance-Based Restricted Stock Units(2)	Weighted- Average Grant Date Fair Value		Aggregate Intrinsic Value
Non-vested at December 31, 2022	100,992	22,843	$	27.28	$	2,033
Granted	54,339	23,684	27.39
Vested	(41,590)	(18,494)	26.07
Forfeited	(5,520)	(3,032)	27.14
Non-vested at September 30, 2023	108,221	25,001	$	27.69	$	2,887

Non-vested at December 31, 2023	106,143	25,001	$	27.70	$	3,530
Granted	73,502	17,690	26.96
Vested	(36,639)	(10,683)	28.26
Forfeited	(2,211)	(501)	27.36
Non-vested at September 30, 2024	140,795	31,507	$	27.16	$	5,872

(1)Restricted stock awards are scheduled to vest over 1.0 year for director awards and 5.0 years for employee awards.

(2)Performance-based restricted stock units are scheduled to vest over 3.0 years assuming the applicable financial goals are met.

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Assets
Cash	$ 18,980	$ 18,307
Interest-bearing deposits	274,497	328,833
Cash and cash equivalents	293,477	347,140
Certificates of deposit in other banks	29,290	34,722
Debt securities available for sale, at fair value (amortized cost of $140,486 and $128,964 at September 30, 2024 and December 31, 2023, respectively)	140,552	126,950
FHLB and FRB stock	18,384	18,393
SBIC investments, at cost	15,489	13,789
Loans held for sale, at fair value	2,968	3,359
Loans held for sale, at the lower of cost or fair value	189,722	198,433
Loans, net of deferred loan fees and costs	3,698,892	3,640,022
ACL on loans	(48,131)	(48,641)
Loans, net	3,650,761	3,591,381
Premises and equipment, net	69,603	70,937
Accrued interest receivable	17,523	16,902
Deferred income taxes, net	10,100	11,796
BOLI	90,021	88,257
Goodwill	34,111	34,111
Core deposit intangibles, net	7,162	9,059
Other assets	68,130	107,404
Total assets	4,637,293	4,672,633
Liabilities
Deposits	3,761,588	3,661,373
Junior subordinated debt	10,096	10,021
Borrowings	260,013	433,763
Other liabilities	65,592	67,583
Total liabilities	4,097,289	4,172,740
Stockholders' equity
Preferred stock, $0.01 par value, 10,000,000 shares authorized, none issued or outstanding	0	0
Common stock, $0.01 par value, 60,000,000 shares authorized, 17,514,922 shares issued and outstanding at September 30, 2024; 17,387,069 at December 31, 2023	175	174
Additional paid in capital	175,495	172,366
Retained earnings	368,383	333,401
Unearned ESOP shares	(4,099)	(4,497)
Accumulated other comprehensive income (loss)	50	(1,551)
Total stockholders' equity	540,004	499,893
Total liabilities and stockholders' equity	$ 4,637,293	$ 4,672,633

Debt Securities - Narrative (Details)	9 Months Ended
Debt Securities - Narrative (Details)	Sep. 30, 2024 USD ($) security	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) security
Debt Securities, Available-for-sale [Line Items]
Proceeds from sale of securities available for sale	$ 0	$ 0
Gross realized gain (loss)	0	$ 0
Estimated Fair Value	140,552,000		$ 126,950,000
Securities available for sale pledged as collateral market value	$ 19,139,000		$ 42,329,000
Number of securities with unrealized losses \| security	157		187
Accrued interest receivable for investment securities available for sale	$ 494,000		$ 469,000
Collateral Pledged
Debt Securities, Available-for-sale [Line Items]
Estimated Fair Value	$ 19,310,000		$ 43,846,000

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

+ Details

Merger with Quantum - Narrative (Details) $ in Thousands	Feb. 12, 2023 USD ($) location	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Business Acquisition [Line Items]
Number of locations \| location	2
Goodwill		$ 34,111	$ 34,111
Quantum
Business Acquisition [Line Items]
Aggregate amount of consideration to be paid	$ 70,771
Prepaid cash consideration to stockholders	15,869
Goodwill	$ 8,473

- Definition

Amount after accumulated impairment loss of an asset representing future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized.

+ References + Details

Subsequent Event (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	9 Months Ended
Subsequent Event (Details) - USD ($) $ in Thousands	Nov. 08, 2024	Sep. 30, 2024	Sep. 30, 2024
Subsequent Event [Line Items]
Allowance for credit loss, period increase		$ 2,200
Payment Delay
Subsequent Event [Line Items]
Loans modified			$ 3,768
Subsequent Event
Subsequent Event [Line Items]
Payment deferral period	6 months
Subsequent Event \| Payment Delay
Subsequent Event [Line Items]
Loans modified	$ 120,000

Leases - Lessor, Fiscal Year Maturity Schedule (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2024	$ 2,170
2025	7,924
2026	6,001
2027	3,410
2028	3,134
Thereafter	4,045
Total of future minimum payments	26,684
Financing Leases
Remainder of 2024	7,891
2025	24,024
2026	20,199
2027	15,546
2028	9,013
Thereafter	6,627
Total undiscounted minimum lease payments	83,300
Less: amount representing interest	(11,175)
Total lease receivable	$ 72,125

Loans and Allowance for Credit Losses on Loans - Schedule of Accounts, Notes, Loans and Financing Receivable (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	$ 3,698,892		$ 3,698,892			$ 3,640,022
ACL on loans	(48,131)	$ (47,417)	(48,131)	$ (47,417)	$ (49,223)	(48,641)	$ (47,193)	$ (38,859)
Loans, net	3,650,761		3,650,761			3,591,381
Accrued interest receivable	16,679		16,679			16,218
Provision for credit losses	2,990	2,850	8,435	12,120
Charge-offs	(4,444)	(2,804)	(10,171)	(4,883)
Recoveries	362	178	1,226	952
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery)	(4,082)	(2,626)	(8,945)	(3,931)
Commercial Real Estate
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	1,841,089		1,841,089			1,806,131
ACL on loans	(20,610)	(20,371)	(20,610)	(20,371)	(20,539)	(20,323)	(20,690)	(15,059)
Provision for credit losses	134	(30)	558	5,309
Charge-offs	(87)	(290)	(295)	(290)
Recoveries	24	1	24	1
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery)	(63)	(289)	(271)	(289)
Commercial Real Estate \| Construction Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	300,905		300,905			305,269
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	544,689		544,689			536,545
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	881,340		881,340			875,694
Commercial Real Estate \| Multifamily Loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	114,155		114,155			88,623
Commercial
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	888,402		888,402			853,120
ACL on loans	(16,444)	(15,526)	(16,444)	(15,526)	(18,115)	(17,025)	(15,216)	(12,382)
Provision for credit losses	2,061	2,383	7,381	6,484
Charge-offs	(3,987)	(2,167)	(8,795)	(3,830)
Recoveries	255	94	833	418
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery)	(3,732)	(2,073)	(7,962)	(3,412)
Commercial \| Commercial and Industrial Loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	286,809		286,809			237,255
Commercial \| Equipment Finance
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	443,033		443,033			465,573
Commercial \| Municipal Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	158,560		158,560			150,292
Residential
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	885,770		885,770			866,929
ACL on loans	(9,826)	(9,548)	(9,826)	(9,548)	(9,103)	(9,285)	(9,284)	(9,048)
Provision for credit losses	714	260	442	286
Charge-offs	0	(27)	(60)	(96)
Recoveries	9	31	159	305
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery)	9	4	99	209
Residential \| Construction Loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	63,016		63,016			96,646
Residential \| One-To-Four Family Loan
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	627,845		627,845			584,405
Consumer Portfolio
Financing Receivable, Allowance for Credit Loss [Line Items]
Loans, net of deferred loan fees and costs	83,631		83,631			113,842
ACL on loans	(1,251)	(1,972)	(1,251)	(1,972)	$ (1,466)	$ (2,008)	$ (2,003)	$ (2,370)
Provision for credit losses	81	237	54	41
Charge-offs	(370)	(320)	(1,021)	(667)
Recoveries	74	52	210	228
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss, Writeoff (Recovery)	$ (296)	$ (268)	$ (811)	$ (439)

Loans Held For Sale

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Loans Held For Sale

Loans held for sale, at the lower of cost or fair value, consist of the following as of the dates indicated:


	September 30, 2024		December 31, 2023
One-to-four family	$	788	$	—
SBA	23,267		30,650
HELOCs	165,667		167,783

Total loans held for sale, at the lower of cost or fair value	$	189,722	$	198,433

The carrying balance of loans held for sale, at fair value, was $2,968 and $3,359 at September 30, 2024 and December 31, 2023, respectively, while the amortized cost of these loans was $2,914 and $3,286 at the same dates.

Borrowings - Schedule of Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Balance	$ 260,013	$ 433,763
Weighted Average Rate	5.11%	5.64%
FHLB advances (short-term)
Debt Instrument [Line Items]
Balance	$ 100,000	$ 105,000
Weighted Average Rate	5.07%	5.44%
FRB advances (short-term)
Debt Instrument [Line Items]
Balance	$ 154,000	$ 310,000
Weighted Average Rate	5.00%	5.50%
Revolving lines of credit
Debt Instrument [Line Items]
Balance	$ 6,013	$ 18,763
Weighted Average Rate	8.50%	9.00%

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Merger with Quantum (Tables)

9 Months Ended

Sep. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

The following table provides a summary of the assets acquired, liabilities assumed, associated preliminary fair value adjustments and provisional period adjustments by the Company as of the merger date. As provided for under US GAAP, management had up to 12 months following the date of merger to finalize the fair value adjustments. Management has completed its evaluation and the values in the table below are considered final.


	Quantum		Fair Value Adjustments		Provisional Period Adjustments		As Recorded by HomeTrust
Assets acquired
Cash and cash equivalents	$	47,769	$	—	$	—	$	47,769
Debt securities available for sale	10,608		—		—		10,608
FHLB and FRB stock	1,125		—		—		1,125
Loans(1)	567,140		(5,207)		—		561,933
Premises and equipment	4,415		4,668		—		9,083
Accrued interest receivable	1,706		—		—		1,706

BOLI	9,066		—		—		9,066

Core deposit intangibles	—		12,210		—		12,210
Other assets	2,727		569		(179)		3,117
Total assets acquired	$	644,556	$	12,240	$	(179)	$	656,617
Liabilities assumed
Deposits	$	570,419	$	183	$	—	$	570,602
Junior subordinated debt	11,341		(1,408)		—		9,933
Other borrowings	24,728		—		—		24,728
Deferred income taxes	—		1,341		250		1,591
Other liabilities	3,334		—		—		3,334
Total liabilities assumed	$	609,822	$	116	$	250	$	610,188

Net assets acquired							$	46,429

Consideration paid
Common stock consideration
Shares of Quantum							574,157
Exchange ratio							2.3942
HomeTrust common stock issued							1,374,647
Price per share of HomeTrust common stock on February 10, 2023							$	27.45
HomeTrust common stock consideration							$	37,734
Cash consideration(2)							17,168
Total consideration							$	54,902

Goodwill							$	8,473

(1)Adjustments to Quantum's total loans include the elimination of Quantum's existing allowance for loan losses of $5,972, the recognition of an ACL at close on PCD loans of $369, and adjustments to reflect the estimated credit fair value mark on the non-PCD loan portfolio of $2,932 and the estimated interest rate fair value adjustment on the loan portfolio as a whole (non-PCD and PCD) of $7,878.

(2)As indicated in the Current Report on Form 8-K/A filed with the SEC on March 30, 2023, the amount of cash consideration paid at closing differs from the $57.54 per share, or $33,037, reported in the Current Report on Form 8-K filed on February 13, 2023, which announced the closing of the merger. Consistent with the merger agreement, between the execution of the merger agreement and the transaction closing date, Quantum's principal stockholders had the option to withdraw some or all of the amount of cash consideration to eventually be paid at closing in advance of the closing date. The amount of cash consideration paid at closing was reduced by the amount withdrawn during this time period.

Merger with Quantum - Schedule of Recognized Identified Assets Acquired and Liabilities Assumed (Details) - Quantum - USD ($) $ / shares in Units, $ in Thousands			9 Months Ended	20 Months Ended
	Mar. 30, 2023	Feb. 12, 2023	Sep. 30, 2023	Sep. 30, 2024	Feb. 10, 2023
Business Acquisition [Line Items]
Cash and cash equivalents		$ 47,769		$ 47,769
Debt securities available for sale		10,608		10,608
FHLB and FRB stock		1,125		1,125
Loans		567,140		561,933
Premises and equipment		4,415		9,083
Accrued interest receivable		1,706		1,706
BOLI		9,066		9,066
Core deposit intangibles		0		12,210
Other assets		2,727		3,117
Total assets acquired		644,556		656,617
Deposits		570,419		570,602
Junior subordinated debt		11,341		9,933
Other borrowings		24,728		24,728
Deferred income taxes		0		1,591
Other liabilities		3,334		3,334
Total liabilities assumed		609,822		610,188
Net assets acquired				46,429
Adjustments, existing allowance for loan losses				5,972
Recognition of an ACL on PCD loans			$ 369	369
Estimated credit fair value mark on the non-PCD loan portfolio				2,932
Estimated interest rate fair value adjustment on the loan portfolio as a whole				7,878
Price per share (in dollars per share)	$ 57.54				$ 27.45
HomeTrust common stock consideration	$ 33,037	$ 37,734
Fair Value Adjustments
Business Acquisition [Line Items]
Fair Value Adjustments, Loans				(5,207)
Fair Value Adjustments, Premises and equipment				4,668
Fair Value Adjustments, Core deposit intangibles				12,210
Fair Value Adjustments, Other assets				569
Fair Value Adjustments, Total assets acquired				12,240
Fair Value Adjustments, Deposits				183
Fair Value Adjustments, Junior subordinated debt				(1,408)
Fair Value Adjustments, Deferred income taxes				1,341
Fair Value Adjustments, Total liabilities assumed				116
Provisional Period Adjustments
Business Acquisition [Line Items]
Fair Value Adjustments, Other assets				(179)
Fair Value Adjustments, Total assets acquired				(179)
Fair Value Adjustments, Deferred income taxes				250
Fair Value Adjustments, Total liabilities assumed				$ 250

Merger with Quantum - Schedule of Business Acquisitions, by Acquisition (Details) $ / shares in Units, $ in Thousands	Mar. 30, 2023 USD ($) $ / shares	Feb. 12, 2023 USD ($) shares	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Feb. 10, 2023 $ / shares
Business Acquisition [Line Items]
Goodwill			$ 34,111	$ 34,111
Quantum
Business Acquisition [Line Items]
Shares of Quantum (in shares) \| shares		574,157,000
Exchange ratio		2,394.2000
Stock issued for Quantum acquisition (in shares) \| shares		1,374,647,000,000
Price per share (in dollars per share) \| $ / shares	$ 57.54				$ 27.45
HomeTrust common stock consideration	$ 33,037	$ 37,734
Cash consideration		17,168
Business Combination, Consideration Transferred, Total		54,902
Goodwill		$ 8,473

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Operating activities
Net income	$ 40,597	$ 36,580
Adjustments to reconcile net income to net cash used in operating activities:
Provision for credit losses	8,400	11,735
Depreciation and amortization of premises and equipment and equipment for operating leases	8,558	7,104
Deferred income tax expense	1,217	492
Net accretion of purchase accounting adjustments on loans	(2,033)	(1,703)
Net amortization and accretion	5,037	4,572
SBIC investments income	(895)	(1,415)
Loss (gain) on sale of premises and equipment	9	(982)
Loss on sale or writedown of REO	0	89
Loss incurred at the end of operating leases - lessor	1,308	211
BOLI income	(3,470)	(2,844)
Gain on sale of loans held for sale	(5,185)	(4,213)
Origination of loans held for sale	(201,485)	(302,355)
Proceeds from sales of loans held for sale	198,199	163,179
New deferred loan origination costs, net	(1,931)	(1,108)
Increase in accrued interest receivable and other assets	(8,241)	(11,480)
Share-based compensation expense	1,363	1,206
ESOP compensation expense	1,151	934
Increase (decrease) in other liabilities	(1,932)	1,121
Net cash provided by (used in) operating activities	40,667	(98,877)
Investing activities
Purchase of debt securities available for sale	(33,258)	(23,232)
Proceeds from maturities, calls and paydowns of debt securities available for sale	22,598	47,055
Purchases of CDs in other banks	(3,925)	(12,683)
Proceeds from maturities of CDs in other banks	9,357	6,674
Net (purchases) redemptions of FHLB and FRB stock	9	(4,826)
Net capital contributions in SBIC investments, at cost	(805)	(757)
Net increase in loans	(50,301)	(102,161)
Purchase of BOLI	(28)	(99)
Collection of receivable representing proceeds from redemption of BOLI policies	44,334	2,285
Death benefit proceeds from BOLI policies	2,363	0
Purchase of equipment for operating leases	(13,703)	(11,676)
Proceeds from sale of equipment for operating leases - lessor	8,657	9,236
Purchase of premises and equipment	(1,492)	(2,539)
Proceeds from sale of premises and equipment and assets held for sale	0	2,332
Proceeds from sale of REO	0	108
Net cash received in merger	0	30,601
Net cash used in investing activities	(16,194)	(59,682)
Financing activities
Net increase in deposits	100,215	22,339
Net increase (decrease) in revolving line of credit	(12,750)	20,263
Net decrease in short-term borrowings	(161,000)	302,000
Repayment of long-term borrowings	0	(24,728)
Common stock repurchased	(645)	0
Cash dividends paid	(5,615)	(5,052)
Retired stock	(365)	(382)
Exercised stock options	2,024	4,099
Net cash provided by financing activities	(78,136)	318,539
Net increase (decrease) in cash and cash equivalents	(53,663)	159,980
Cash and cash equivalents at beginning of period	347,140	165,034
Cash and cash equivalents at end of period	293,477	325,014
Cash paid during the period for
Interest	66,001	38,415
Income taxes	13,664	11,923
Noncash transactions
Unrealized gain (loss) in value of debt securities available for sale, net of income taxes	1,601	(863)
Transfer of loans held for sale to loans held for investment	17,040	17,798
Transfer of loans to repossessed assets	872	0
ROU asset and lease liabilities for operating lease accounting	0	3,917
Fair value of assets acquired	0	665,090
Fair value of liabilities assumed	0	610,188
Net assets acquired	$ 0	$ 54,902

Net Income per Share - Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator
Net income	$ 13,112	$ 14,833	$ 40,597	$ 36,580
Allocation of earnings to participating securities	(132)	(117)	(410)	(292)
Numerator for basic and diluted EPS - net income available to common stockholders	$ 12,980	$ 14,716	$ 40,187	$ 36,288
Denominator
Weighted-average common shares outstanding - basic (in shares)	16,931,793	16,792,177	16,891,619	16,532,335
Dilutive effect of assumed exercises of stock options (in shares)	96,031	8,724	46,709	20,984
Weighted-average common shares outstanding - diluted (in shares)	17,027,824	16,800,901	16,938,328	16,553,319
Net income per share - basic (in dollars per share)	$ 0.77	$ 0.88	$ 2.38	$ 2.19
Net income per share - diluted (in dollars per share)	$ 0.76	$ 0.88	$ 2.37	$ 2.18

Leases - Schedule of Lease Cost (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Operating lease cost (included in occupancy expense, net)	$ 407	$ 430	$ 1,221	$ 1,240
Variable lease cost (included in occupancy expense, net)	1	1	4	3
Sublease income (included in other noninterest income)	(43)	(42)	(128)	(126)
Total operating lease expense, net	$ 365	$ 389	$ 1,097	$ 1,117

Commitments and Contingencies - Narrative (Details) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024 USD ($) investment	Dec. 31, 2023 USD ($) investment
Other Commitments
Committed capital, SBIC investments	$ 28,000	$ 24,000
Number of SBIC investments for committed capital \| investment	9	8
Committed capital, SBIC investments, remaining to be drawn	$ 8,598	$ 7,984
Letters of credit outstanding	$ 52,686	$ 50,897

Equity Incentive Plan Equity Incentive Plan - Share Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Share-based compensation expense	$ 541	$ 383	$ 1,363	$ 1,206
Tax benefit	$ 128	$ 90	$ 323	$ 283

Summary of Significant Accounting Policies (Policies)	9 Months Ended
Summary of Significant Accounting Policies (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting	The accompanying unaudited consolidated financial statements have been prepared in accordance with US GAAP for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X as promulgated by the SEC. Accordingly, they do not include all the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation of the financial position and results of operations for the periods presented have been included. It is recommended that these unaudited interim consolidated financial statements be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company's Transition Report on Form 10-KT for the six-month transition period ended December 31, 2023 ("2023 Form 10-KT") filed with the SEC on March 12, 2024. The results of operations for the nine months ended September 30, 2024 are not necessarily indicative of results that may be expected for the year ending December 31, 2024, the period which will be covered on a Report on Form 10-K.
Use of Estimates	The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect amounts reported in the financial statements. Various elements of the Company's accounting policies, by their nature, are inherently subject to estimation techniques, valuation assumptions and other subjective assessments. In particular, management has identified the determination of the provision and the ACL on loans as an accounting policy that, due to the judgments, estimates and assumptions inherent in the policy, is critical to an understanding of the Company's financial statements. This policy and the related judgments, estimates and assumptions are described in greater detail in the notes to the Consolidated Financial Statements and Management's Discussion and Analysis of Financial Condition and Results of Operations (Critical Accounting Policies and Estimates) in the 2023 Form 10-KT. Management believes that the judgments, estimates and assumptions used in the preparation of the financial statements are appropriate based on the factual circumstances at the time. However, given the sensitivity of the financial statements to this critical accounting policy, the use of other judgments, estimates and assumptions could result in material differences in the Company's results of operations or financial condition. Further, subsequent changes in economic or market conditions could have a material impact on these estimates and the Company's financial condition and operating results in future periods.
Prior Period Disclosure Correction	Prior Period Disclosure Correction Within "Note 6 – Loans and Allowance for Credit Losses on Loans", the tables disclosing our credit risk profile by origination year as of December 31, 2023, beginning on page 18 of this document, reflect the correction of an immaterial error in the prior period disclosure. The correction of the disclosure error redistributed $264,101 in loans from the "Revolving" columns to the "Term Loans By Origination Fiscal Year" columns. The error's only impact was to the identified disclosure and therefore had no effect on net income or stockholders' equity as previously reported.
Newly Issued but Not Yet Effective Accounting Standards	Newly Issued but Not Yet Effective Accounting Standards ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." In November 2023, the FASB issued ASU 2023-07 which will require public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. Public entities will be required to disclose other segment items for each reportable segment and provide a description of its composition. Significant expense categories are derived from expenses that are regularly reported to an entity's chief operating decision-makers and included in segment-reported measures of profit or loss. The ASU will also require a public entity to disclose the title and position of the chief operating decision-maker and explain how the chief operating decision-maker uses the reported measures of profit or loss to assess segment performance. Lastly, ASU 2023-07 also requires interim disclosures of certain segment-related disclosures that previously were required only on an annual basis and clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements under Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The ASU requires entities to adopt the changes to the segment reporting guidance on a retrospective basis and early adoption is permitted. The Company will update its segment-related disclosures upon adoption of the ASU. ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." In December 2023, the FASB issued ASU 2023-09 which requires entities to disclose more detailed information in the reconciliation of their statutory tax rate to their effective tax rate. The ASU also requires entities to disclose more detailed information about income taxes paid, including by jurisdiction. This ASU is effective for public business entities for annual reporting periods beginning after December 15, 2024 and interim periods beginning after December 15, 2025. The Company will update its income tax disclosures upon adoption of the ASU.

Net Income per Share - Antidilutive Stock Options (Details) - shares	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	45,450	512,150

Net Income per Share

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

Net Income per Share

The following is a reconciliation of the numerator and denominator of basic and diluted net income per common share as of the dates indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Numerator
Net income	$	13,112	$	14,833	$	40,597	$	36,580
Allocation of earnings to participating securities	(132)		(117)		(410)		(292)
Numerator for basic and diluted EPS - net income available to common stockholders	$	12,980	$	14,716	$	40,187	$	36,288



Denominator
Weighted-average common shares outstanding - basic	16,931,793		16,792,177		16,891,619		16,532,335
Dilutive effect of assumed exercise of stock options	96,031		8,724		46,709		20,984
Weighted-average common shares outstanding - diluted	17,027,824		16,800,901		16,938,328		16,553,319
Net income per share - basic	$	0.77	$	0.88	$	2.38	$	2.19
Net income per share - diluted	$	0.76	$	0.88	$	2.37	$	2.18

Potential dilutive shares are excluded from the computation of earnings per share if their effect is anti-dilutive. There were 45,450 and 512,150 stock options that were anti-dilutive as of September 30, 2024 and 2023, respectively.

Loans and Allowance for Credit Losses on Loans (Tables)

9 Months Ended

Sep. 30, 2024

Receivables [Abstract]

Schedule of Accounts, Notes, Loans and Financing Receivable

Loans held for sale, at the lower of cost or fair value, consist of the following as of the dates indicated:


	September 30, 2024		December 31, 2023
One-to-four family	$	788	$	—
SBA	23,267		30,650
HELOCs	165,667		167,783

Total loans held for sale, at the lower of cost or fair value	$	189,722	$	198,433

Loans consist of the following at the dates indicated(1):


	September 30, 2024		December 31, 2023
Commercial real estate loans
Construction and land development	$	300,905	$	305,269
Commercial real estate – owner occupied	544,689		536,545
Commercial real estate – non-owner occupied	881,340		875,694
Multifamily	114,155		88,623
Total commercial real estate loans	1,841,089		1,806,131
Commercial loans
Commercial and industrial	286,809		237,255
Equipment finance	443,033		465,573
Municipal leases	158,560		150,292

Total commercial loans	888,402		853,120
Residential real estate loans
Construction and land development	63,016		96,646
One-to-four family	627,845		584,405
HELOCs	194,909		185,878
Total residential real estate loans	885,770		866,929
Consumer loans	83,631		113,842
Total loans, net of deferred loan fees and costs	3,698,892		3,640,022
ACL on loans	(48,131)		(48,641)
Loans, net	$	3,650,761	$	3,591,381

(1) At September 30, 2024 and December 31, 2023 accrued interest receivable of $16,679 and $16,218, respectively, was accounted for separately from the amortized cost basis.

The following tables provide a breakdown between loans identified as CDAs and non-CDAs, by segment and class, as well as collateral coverage for those loans for the periods indicated below:


	Type and Extent of Collateral Securing CDAs								Non-CDAs
September 30, 2024	Residential Property		Investment Property		Commercial Property		Business Assets					Total
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	—		$	300,905	$	300,905
Commercial real estate – owner occupied	—		—		6,495		—			538,194		544,689
Commercial real estate – non-owner occupied	—		—		4,276		—			877,064		881,340
Multifamily	—		—		—		—			114,155		114,155
Total commercial real estate	—		—		10,771		—			1,830,318		1,841,089
Commercial
Commercial and industrial	—		—		—		829			285,980		286,809
Equipment finance	—		—		—		4,536			438,497		443,033
Municipal leases	—		—		—		—			158,560		158,560

Total commercial	—		—		—		5,365			883,037		888,402
Residential real estate
Construction and land development	—		—		—		—			63,016		63,016
One-to-four family	—		—		—		—			627,845		627,845
HELOCs	—		—		—		—			194,909		194,909
Total residential real estate	—		—		—		—			885,770		885,770
Consumer	—		—		—		—			83,631		83,631
Total	$	—	$	—	$	10,771	$	5,365		$	3,682,756	$	3,698,892
Total collateral value	$	—	$	—	$	15,743	$	4,879


	Type and Extent of Collateral Securing CDAs								Non-CDAs
December 31, 2023	Residential Property		Investment Property		Commercial Property		Business Assets					Total
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	—		$	305,269	$	305,269
Commercial real estate – owner occupied	—		—		1,821		—			534,724		536,545
Commercial real estate – non-owner occupied	—		—		4,310		—			871,384		875,694
Multifamily	—		—		—		—			88,623		88,623
Total commercial real estate	—		—		6,131		—			1,800,000		1,806,131
Commercial
Commercial and industrial	—		—		—		1,322			235,933		237,255
Equipment finance	—		—		—		1,304			464,269		465,573
Municipal leases	—		—		—		—			150,292		150,292

Total commercial	—		—		—		2,626			850,494		853,120
Residential real estate
Construction and land development	—		—		—		—			96,646		96,646
One-to-four family	—		—		—		—			584,405		584,405
HELOCs	510		—		—		—			185,368		185,878
Total residential real estate	510		—		—		—			866,419		866,929
Consumer	—		—		—		—			113,842		113,842
Total	$	510	$	—	$	6,131	$	2,626		$	3,630,755	$	3,640,022
Total collateral value	$	733	$	—	$	5,627	$	686

Financing Receivable Credit Quality Indicators


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	99,027	$	57,217	$	62,655	$	59,756	$	9,950	$	7,439	$	4,097	$	300,141
Special mention	—		—		—		—		764		—		—		764
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	99,027	$	57,217	$	62,655	$	59,756	$	10,714	$	7,439	$	4,097	$	300,905

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate – owner occupied
Risk rating
Pass	$	44,445	$	35,877	$	65,978	$	99,150	$	83,016	$	201,112	$	4,414	$	533,992
Special mention	—		—		151		136		441		2,239		—		2,967
Substandard	—		274		254		284		1		6,588		—		7,401
Doubtful	—		—		—		305		—		24		—		329
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – owner occupied	$	44,445	$	36,151	$	66,383	$	99,875	$	83,458	$	209,963	$	4,414	$	544,689

Current period gross charge-offs	$	—	$	—	$	77	$	—	$	—	$	208	$	—	$	285

Commercial real estate – non-owner occupied
Risk rating
Pass	$	57,539	$	22,168	$	98,035	$	147,252	$	176,222	$	335,226	$	9,360	$	845,802
Special mention	—		—		3,675		3,830		—		15,095		—		22,600
Substandard	—		—		3,046		—		—		9,892		—		12,938
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – non-owner occupied	$	57,539	$	22,168	$	104,756	$	151,082	$	176,222	$	360,213	$	9,360	$	881,340

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Multifamily
Risk rating
Pass	$	9,919	$	5,505	$	6,581	$	19,195	$	46,656	$	25,961	$	—	$	113,817
Special mention	—		—		—		—		—		87		—		87
Substandard	—		—		—		—		—		251		—		251
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total multifamily	$	9,919	$	5,505	$	6,581	$	19,195	$	46,656	$	26,299	$	—	$	114,155

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	10	$	—	$	10

Total commercial real estate
Risk rating
Pass	$	210,930	$	120,767	$	233,249	$	325,353	$	315,844	$	569,738	$	17,871	$	1,793,752
Special mention	—		—		3,826		3,966		1,205		17,421		—		26,418
Substandard	—		274		3,300		284		1		16,731		—		20,590
Doubtful	—		—		—		305		—		24		—		329
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	210,930	$	121,041	$	240,375	$	329,908	$	317,050	$	603,914	$	17,871	$	1,841,089

Total current period gross charge-offs	$	—	$	—	$	77	$	—	$	—	$	218	$	—	$	295


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Commercial and industrial
Risk rating
Pass	$	63,013	$	26,895	$	43,555	$	38,078	$	11,407	$	23,761	$	71,858	$	278,567
Special mention	—		—		—		449		99		2,617		151		3,316
Substandard	—		279		1,340		1,498		524		860		169		4,670
Doubtful	—		—		—		—		—		256		—		256
Loss	—		—		—		—		—		—		—		—
Total commercial and industrial	$	63,013	$	27,174	$	44,895	$	40,025	$	12,030	$	27,494	$	72,178	$	286,809

Current period gross charge-offs	$	—	$	—	$	1,168	$	1,056	$	51	$	1,089	$	—	$	3,364

Equipment finance
Risk rating
Pass	$	98,055	$	69,198	$	138,203	$	77,660	$	35,051	$	14,040	$	—	$	432,207
Special mention	—		84		752		932		429		260		—		2,457
Substandard	—		—		—		3,218		—		114		—		3,332
Doubtful	—		328		1,953		2,221		485		50		—		5,037
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	98,055	$	69,610	$	140,908	$	84,031	$	35,965	$	14,464	$	—	$	443,033

Current period gross charge-offs	$	—	$	—	$	2,129	$	2,509	$	486	$	307	$	—	$	5,431

Municipal leases
Risk rating
Pass	$	17,098	$	18,901	$	25,129	$	23,173	$	24,869	$	49,390	$	—	$	158,560
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total municipal leases	$	17,098	$	18,901	$	25,129	$	23,173	$	24,869	$	49,390	$	—	$	158,560

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total commercial
Risk rating
Pass	$	178,166	$	114,994	$	206,887	$	138,911	$	71,327	$	87,191	$	71,858	$	869,334
Special mention	—		84		752		1,381		528		2,877		151		5,773
Substandard	—		279		1,340		4,716		524		974		169		8,002
Doubtful	—		328		1,953		2,221		485		306		—		5,293
Loss	—		—		—		—		—		—		—		—
Total commercial	$	178,166	$	115,685	$	210,932	$	147,229	$	72,864	$	91,348	$	72,178	$	888,402

Total current period gross charge-offs	$	—	$	—	$	3,297	$	3,565	$	537	$	1,396	$	—	$	8,795


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	8,676	$	13,703	$	27,536	$	9,671	$	2,712	$	584	$	—	$	62,882
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		134		—		134
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	8,676	$	13,703	$	27,536	$	9,671	$	2,712	$	718	$	—	$	63,016

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

One-to-four family
Risk rating
Pass	$	30,254	$	20,789	$	147,351	$	152,076	$	101,669	$	161,554	$	7,590	$	621,283
Special mention	—		—		—		—		—		493		45		538
Substandard	189		355		594		670		—		4,201		—		6,009
Doubtful	—		—		—		—		—		15		—		15
Loss	—		—		—		—		—		—		—		—
Total one-to-four family	$	30,443	$	21,144	$	147,945	$	152,746	$	101,669	$	166,263	$	7,635	$	627,845

Current period gross charge-offs	$	—	$	—	$	—	$	7	$	—	$	5	$	—	$	12

HELOCs
Risk rating
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	190,533	$	190,533
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		4,376		4,376
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total HELOCs	$	—	$	—	$	—	$	—	$	—	$	—	$	194,909	$	194,909

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	48	$	48

Total residential real estate
Risk rating
Pass	$	38,930	$	34,492	$	174,887	$	161,747	$	104,381	$	162,138	$	198,123	$	874,698
Special mention	—		—		—		—		—		493		45		538
Substandard	189		355		594		670		—		4,335		4,376		10,519
Doubtful	—		—		—		—		—		15		—		15
Loss	—		—		—		—		—		—		—		—
Total residential real estate	$	39,119	$	34,847	$	175,481	$	162,417	$	104,381	$	166,981	$	202,544	$	885,770

Total current period gross charge-offs	$	—	$	—	$	—	$	7	$	—	$	5	$	48	$	60


	Term Loans By Origination Fiscal Year
September 30, 2024	2024		2023-S(1)		2023		2022		2021		Prior		Revolving		Total
Total consumer
Risk rating
Pass	$	5,013	$	20,200	$	37,074	$	9,780	$	6,192	$	4,075	$	250	$	82,584
Special mention	—		—		—		—		—		—		—		—
Substandard	54		52		479		123		169		147		16		1,040
Doubtful	—		—		5		—		2		—		—		7
Loss	—		—		—		—		—		—		—		—
Total consumer	$	5,067	$	20,252	$	37,558	$	9,903	$	6,363	$	4,222	$	266	$	83,631

Total current period gross charge-offs	$	35	$	165	$	459	$	227	$	86	$	47	$	2	$	1,021


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	61,716	$	105,170	$	88,320	$	37,197	$	201	$	7,581	$	4,805	$	304,990
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		279		—		—		—		—		279
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	61,716	$	105,170	$	88,599	$	37,197	$	201	$	7,581	$	4,805	$	305,269

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Commercial real estate – owner occupied
Risk rating
Pass	$	35,428	$	61,090	$	104,005	$	90,506	$	72,121	$	159,328	$	3,486	$	525,964
Special mention	—		149		148		447		2,033		3,699		—		6,476
Substandard	—		—		379		1		338		2,886		—		3,604
Doubtful	—		—		—		—		289		212		—		501
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – owner occupied	$	35,428	$	61,239	$	104,532	$	90,954	$	74,781	$	166,125	$	3,486	$	536,545

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	290	$	—	$	290

Commercial real estate – non-owner occupied
Risk rating
Pass	$	11,716	$	104,881	$	155,782	$	185,264	$	95,749	$	302,341	$	6,460	$	862,193
Special mention	—		—		—		—		—		294		—		294
Substandard	—		3,078		—		—		6,180		3,949		—		13,207
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total commercial real estate – non-owner occupied	$	11,716	$	107,959	$	155,782	$	185,264	$	101,929	$	306,584	$	6,460	$	875,694

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Multifamily
Risk rating
Pass	$	5,515	$	4,184	$	18,597	$	21,411	$	10,921	$	25,400	$	644	$	86,672
Special mention	—		—		1,583		—		—		89		—		1,672
Substandard	—		—		—		—		—		279		—		279
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total multifamily	$	5,515	$	4,184	$	20,180	$	21,411	$	10,921	$	25,768	$	644	$	88,623

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total commercial real estate
Risk rating
Pass	$	114,375	$	275,325	$	366,704	$	334,378	$	178,992	$	494,650	$	15,395	$	1,779,819
Special mention	—		149		1,731		447		2,033		4,082		—		8,442
Substandard	—		3,078		658		1		6,518		7,114		—		17,369
Doubtful	—		—		—		—		289		212		—		501
Loss	—		—		—		—		—		—		—		—
Total commercial real estate	$	114,375	$	278,552	$	369,093	$	334,826	$	187,832	$	506,058	$	15,395	$	1,806,131

Total current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	290	$	—	$	290

(2)This table reflects the correction of an immaterial error in the prior period disclosure. See "Note 1 – Summary of Significant Accounting Policies" for further information.


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Commercial and industrial
Risk rating
Pass	$	19,180	$	51,742	$	60,487	$	14,146	$	11,071	$	22,352	$	49,663	$	228,641
Special mention	—		329		227		158		54		81		—		849
Substandard	—		671		341		29		1,380		307		3,707		6,435
Doubtful	—		713		—		—		222		—		264		1,199
Loss	—		—		—		—		—		131		—		131
Total commercial and industrial	$	19,180	$	53,455	$	61,055	$	14,333	$	12,727	$	22,871	$	53,634	$	237,255

Current period gross charge-offs	$	—	$	1,337	$	402	$	184	$	574	$	618	$	—	$	3,115

Equipment finance
Risk rating
Pass	$	83,332	$	172,704	$	113,363	$	57,295	$	25,552	$	4,854	$	—	$	457,100
Special mention	—		338		666		383		341		252		—		1,980
Substandard	—		206		—		—		—		134		—		340
Doubtful	—		2,645		2,498		626		384		—		—		6,153
Loss	—		—		—		—		—		—		—		—
Total equipment finance	$	83,332	$	175,893	$	116,527	$	58,304	$	26,277	$	5,240	$	—	$	465,573

Current period gross charge-offs	$	—	$	550	$	912	$	539	$	29	$	14	$	—	$	2,044

Municipal leases
Risk rating
Pass	$	17,372	$	34,203	$	28,241	$	15,742	$	7,358	$	47,376	$	—	$	150,292
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total municipal leases	$	17,372	$	34,203	$	28,241	$	15,742	$	7,358	$	47,376	$	—	$	150,292

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total commercial
Risk rating
Pass	$	119,884	$	258,649	$	202,091	$	87,183	$	43,981	$	74,582	$	49,663	$	836,033
Special mention	—		667		893		541		395		333		—		2,829
Substandard	—		877		341		29		1,380		441		3,707		6,775
Doubtful	—		3,358		2,498		626		606		—		264		7,352
Loss	—		—		—		—		—		131		—		131
Total commercial	$	119,884	$	263,551	$	205,823	$	88,379	$	46,362	$	75,487	$	53,634	$	853,120

Total current period gross charge-offs	$	—	$	1,887	$	1,314	$	723	$	603	$	632	$	—	$	5,159


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Construction and land development
Risk rating
Pass	$	7,669	$	64,716	$	18,841	$	4,002	$	44	$	1,237	$	—	$	96,509
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		137		—		137
Doubtful	—		—		—		—		—		—		—		—
Loss	—		—		—		—		—		—		—		—
Total construction and land development	$	7,669	$	64,716	$	18,841	$	4,002	$	44	$	1,374	$	—	$	96,646

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

One-to-four family
Risk rating
Pass	$	19,532	$	102,902	$	153,029	$	109,870	$	48,971	$	139,061	$	5,395	$	578,760
Special mention	—		—		—		—		—		511		—		511
Substandard	—		383		258		—		202		4,268		—		5,111
Doubtful	—		—		—		—		—		23		—		23
Loss	—		—		—		—		—		—		—		—
Total one-to-four family	$	19,532	$	103,285	$	153,287	$	109,870	$	49,173	$	143,863	$	5,395	$	584,405

Current period gross charge-offs	$	—	$	—	$	13	$	3	$	12	$	4	$	—	$	32

HELOCs
Risk rating
Pass	$	—	$	—	$	—	$	—	$	—	$	—	$	183,815	$	183,815
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		2,034		2,034
Doubtful	—		—		—		—		—		—		29		29
Loss	—		—		—		—		—		—		—		—
Total HELOCs	$	—	$	—	$	—	$	—	$	—	$	—	$	185,878	$	185,878

Current period gross charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

Total residential real estate
Risk rating
Pass	$	27,201	$	167,618	$	171,870	$	113,872	$	49,015	$	140,298	$	189,210	$	859,084
Special mention	—		—		—		—		—		511		—		511
Substandard	—		383		258		—		202		4,405		2,034		7,282
Doubtful	—		—		—		—		—		23		29		52
Loss	—		—		—		—		—		—		—		—
Total residential real estate	$	27,201	$	168,001	$	172,128	$	113,872	$	49,217	$	145,237	$	191,273	$	866,929

Total current period gross charge-offs	$	—	$	—	$	13	$	3	$	12	$	4	$	—	$	32


	Term Loans By Origination Fiscal Year
December 31, 2023	2023-S(1)		2023		2022		2021		2020		Prior		Revolving		Total
Total consumer
Risk rating
Pass	$	26,569	$	51,351	$	14,408	$	9,672	$	6,313	$	4,068	$	309	$	112,690
Special mention	—		—		—		—		—		—		—		—
Substandard	—		329		265		210		172		141		24		1,141
Doubtful	—		7		—		3		—		—		—		10
Loss	—		—		—		—		—		1		—		1
Total consumer	$	26,569	$	51,687	$	14,673	$	9,885	$	6,485	$	4,210	$	333	$	113,842

Total current period gross charge-offs	$	6	$	401	$	118	$	34	$	11	$	9	$	—	$	579

Past Due Financing Receivables

The following tables present aging analyses of past due loans (including nonaccrual loans) by segment and class for the periods indicated:



	Past Due								Total Loans
	30-89 Days		90 Days+		Total		Current
September 30, 2024
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	300,905	$	300,905
Commercial real estate – owner occupied	4,040		612		4,652		540,037		544,689
Commercial real estate – non-owner occupied	—		4,004		4,004		877,336		881,340
Multifamily	—		—		—		114,155		114,155
Total commercial real estate	4,040		4,616		8,656		1,832,433		1,841,089
Commercial
Commercial and industrial	227		3,283		3,510		283,299		286,809
Equipment finance	1,938		3,235		5,173		437,860		443,033
Municipal leases	—		—		—		158,560		158,560

Total commercial	2,165		6,518		8,683		879,719		888,402
Residential real estate
Construction and land development	—		132		132		62,884		63,016
One-to-four family	1,360		1,287		2,647		625,198		627,845
HELOCs	1,564		1,914		3,478		191,431		194,909
Total residential real estate	2,924		3,333		6,257		879,513		885,770
Consumer	463		211		674		82,957		83,631
Total loans	$	9,592	$	14,678	$	24,270	$	3,674,622	$	3,698,892


	Past Due								Total Loans
	30-89 Days		90 Days+		Total		Current
December 31, 2023
Commercial real estate
Construction and land development	$	—	$	—	$	—	$	305,269	$	305,269
Commercial real estate – owner occupied	657		501		1,158		535,387		536,545
Commercial real estate – non-owner occupied	4,032		—		4,032		871,662		875,694
Multifamily	—		—		—		88,623		88,623
Total commercial real estate	4,689		501		5,190		1,800,941		1,806,131
Commercial
Commercial and industrial	974		2,667		3,641		233,614		237,255
Equipment finance	5,411		4,019		9,430		456,143		465,573
Municipal leases	—		—		—		150,292		150,292

Total commercial	6,385		6,686		13,071		840,049		853,120
Residential real estate
Construction and land development	—		132		132		96,514		96,646
One-to-four family	958		1,068		2,026		582,379		584,405
HELOCs	1,240		1,622		2,862		183,016		185,878
Total residential real estate	2,198		2,822		5,020		861,909		866,929
Consumer	535		301		836		113,006		113,842
Total loans	$	13,807	$	10,310	$	24,117	$	3,615,905	$	3,640,022

Schedule of Past Due Loans Still Accruing and Nonaccruing Interest


	September 30, 2024		December 31, 2023		90 Days+ & Still Accruing as of September 30, 2024		Nonaccrual with No ACL as of September 30, 2024		Interest Income Recognized
Commercial real estate

Commercial real estate – owner occupied	$	7,215	$	912	$	—	$	5,370	$	70
Commercial real estate – non-owner occupied	4,004		4,032		—		—		39
Multifamily	55		74		—		—		4
Total commercial real estate	11,274		5,018		—		5,370		113
Commercial
Commercial and industrial	3,978		2,774		—		643		56
Equipment finance	8,543		6,463		—		3,321		166


Total commercial	12,521		9,237		—		3,964		222
Residential real estate
Construction and land development	132		132		—		—		—
One-to-four family	2,102		2,205		—		—		70
HELOCs	2,477		2,173		—		—		34
Total residential real estate	4,711		4,510		—		—		104
Consumer	400		568		—		—		17
Total loans	$	28,906	$	19,333	$	—	$	9,334	$	456

Allowance for Credit Losses on Financing Receivables


	Three Months Ended September 30, 2024
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	20,539	$	18,115	$	9,103	$	1,466	$	49,223

Provision for credit losses	134		2,061		714		81		2,990


Charge-offs	(87)		(3,987)		—		(370)		(4,444)
Recoveries	24		255		9		74		362
Net (charge-offs) recoveries	(63)		(3,732)		9		(296)		(4,082)
Balance at end of period	$	20,610	$	16,444	$	9,826	$	1,251	$	48,131


	Three Months Ended September 30, 2023
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	20,690	$	15,216	$	9,284	$	2,003	$	47,193
Provision for credit losses	(30)		2,383		260		237		2,850
Charge-offs	(290)		(2,167)		(27)		(320)		(2,804)
Recoveries	1		94		31		52		178
Net (charge-offs) recoveries	(289)		(2,073)		4		(268)		(2,626)
Balance at end of period	$	20,371	$	15,526	$	9,548	$	1,972	$	47,417


	Nine Months Ended September 30, 2024
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	20,323	$	17,025	$	9,285	$	2,008	$	48,641

Provision for credit losses	558		7,381		442		54		8,435


Charge-offs	(295)		(8,795)		(60)		(1,021)		(10,171)
Recoveries	24		833		159		210		1,226
Net (charge-offs) recoveries	(271)		(7,962)		99		(811)		(8,945)
Balance at end of period	$	20,610	$	16,444	$	9,826	$	1,251	$	48,131


	Nine Months Ended September 30, 2023
	Commercial Real Estate		Commercial		Residential Real Estate		Consumer		Total
Balance at beginning of period	$	15,059	$	12,382	$	9,048	$	2,370	$	38,859
Provision for credit losses	5,309		6,484		286		41		12,120
Initial ACL on PCD loans	292		72		5		—		369
Charge-offs	(290)		(3,830)		(96)		(667)		(4,883)
Recoveries	1		418		305		228		952
Net (charge-offs) recoveries	(289)		(3,412)		209		(439)		(3,931)
Balance at end of period	$	20,371	$	15,526	$	9,548	$	1,972	$	47,417

Modified Financing Receivables


	Three Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment		Combination Term Extension & Principal Forgiveness		Combination Term Extension & Interest Rate Reduction		% of Total Class of Financing Receivable
Commercial real estate

Commercial real estate – owner-occupied	$	—	$	675	$	—	$	161	$	—	$	—	0.15	%


	Nine Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment		Combination Term Extension & Principal Forgiveness		Combination Term Extension & Interest Rate Reduction		% of Total Class of Financing Receivable
Commercial real estate

Commercial real estate – owner-occupied	$	—	$	675	$	—	$	161	$	—	$	—	0.15	%
Commercial real estate – non-owner-occupied	—		956		—		—		—		—		0.11	%

Commercial loans
Commercial and industrial	—		2,137		630		147		—		—		1.02	%







Total	$	—	$	3,768	$	630	$	308	$	—	$	—	0.10	%


	Three Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment
Commercial real estate


Commercial real estate – non-owner-occupied	$	—	$	305	$	—	$	—

Commercial loans
Commercial and industrial	—		637		—		—







Total	$	—	$	942	$	—	$	—


	Nine Months Ended September 30, 2024
	Principal Forgiveness		Payment Delay		Term Extension		Interest Rate Adjustment
Commercial real estate


Commercial real estate – non-owner-occupied	$	—	$	1,261	$	—	$	—

Commercial loans
Commercial and industrial	—		637		—		—







Total	$	—	$	1,898	$	—	$	—

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 13,112	$ 14,833	$ 40,597	$ 36,580
Other comprehensive income (loss)
Gains (losses) arising during the period	3,143	(643)	2,080	(1,121)
Deferred income tax (expense) benefit	(724)	147	(479)	258
Total other comprehensive income (loss)	2,419	(496)	1,601	(863)
Comprehensive income	$ 15,531	$ 14,337	$ 42,198	$ 35,717

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

+ Details

- Definition

Amount after tax and reclassification adjustments of other comprehensive income (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
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-Topic 505
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-URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A

+ Details

Recent Accounting Pronouncements	9 Months Ended
Recent Accounting Pronouncements	Sep. 30, 2024
Accounting Changes and Error Corrections [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements Newly Issued but Not Yet Effective Accounting Standards ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." In November 2023, the FASB issued ASU 2023-07 which will require public entities to disclose information about their reportable segments' significant expenses on an interim and annual basis. Public entities will be required to disclose other segment items for each reportable segment and provide a description of its composition. Significant expense categories are derived from expenses that are regularly reported to an entity's chief operating decision-makers and included in segment-reported measures of profit or loss. The ASU will also require a public entity to disclose the title and position of the chief operating decision-maker and explain how the chief operating decision-maker uses the reported measures of profit or loss to assess segment performance. Lastly, ASU 2023-07 also requires interim disclosures of certain segment-related disclosures that previously were required only on an annual basis and clarifies that entities with a single reportable segment are subject to both new and existing segment reporting requirements under Topic 280. ASU 2023-07 is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The ASU requires entities to adopt the changes to the segment reporting guidance on a retrospective basis and early adoption is permitted. The Company will update its segment-related disclosures upon adoption of the ASU. ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." In December 2023, the FASB issued ASU 2023-09 which requires entities to disclose more detailed information in the reconciliation of their statutory tax rate to their effective tax rate. The ASU also requires entities to disclose more detailed information about income taxes paid, including by jurisdiction. This ASU is effective for public business entities for annual reporting periods beginning after December 15, 2024 and interim periods beginning after December 15, 2025. The Company will update its income tax disclosures upon adoption of the ASU.

- Definition

The entire disclosure for change in accounting principle. Includes, but is not limited to, nature, reason, and method of adopting amendment to accounting standards or other change in accounting principle.

+ References

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+ Details

Leases

9 Months Ended

Sep. 30, 2024

Leases [Abstract]

Leases

As Lessee - Operating Leases

The Company's operating leases primarily include office space and bank branches. Certain leases include one or more options to renew, with renewal terms that can extend the lease term up to 15 additional years. The exercise of lease renewal options is at management's sole discretion. When it is reasonably certain that the Company will exercise our option to renew or extend the lease term, that option is included in estimating the value of the ROU and lease liability. The Company's lease agreements do not contain any material residual value guarantees or material restrictive covenants. Most of the Company's lease agreements include periodic rate adjustments for inflation. The depreciable life of ROU assets and leasehold improvements are limited to the shorter of the useful life or the expected lease term. Leases with an initial term of 12 months or less are not recorded on the Company's Consolidated Balance Sheet. The Company recognizes lease expenses for these leases over the lease term.

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



	September 30, 2024			December 31, 2023
Supplemental balance sheet information
ROU assets	$	8,373		$	9,259

Lease liabilities	$	9,917		$	10,975

Weighted-average remaining lease terms (years)	8.4			8.8
Weighted-average discount rate	3.46		%	3.41		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2024:



Remainder of 2024	$	460
2025	1,716
2026	1,707
2027	1,729
2028	1,539
Thereafter	4,413
Total undiscounted minimum lease payments	11,564
Less: amount representing interest	(1,647)
Total lease liability	$	9,917

The following table presents components of operating lease expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost (included in occupancy expense, net)	$	407	$	430	$	1,221	$	1,240
Variable lease cost (included in occupancy expense, net)	1		1		4		3
Sublease income (included in other noninterest income)	(43)		(42)		(128)		(126)
Total operating lease expense, net	$	365	$	389	$	1,097	$	1,117

As Lessee - Finance Lease

During the quarter ended March 31, 2023, the Company purchased the property associated with the finance lease reported historically. The Company purchased the property for $1,249, terminating the existing land lease. Prior to the purchase, interest expense on the lease liability totaled $15 for the three months ended March 31, 2023.

The following table presents supplemental lease cash flow information for the periods indicated:


	Nine Months Ended September 30,
	2024		2023
ROU assets - noncash additions (operating leases)	$	—	$	3,956

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	1,140		1,019
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	—		22

As Lessor - General

The Company leases equipment to commercial end users under operating and finance lease arrangements. The Company's equipment finance leases consist mainly of construction, transportation, healthcare and manufacturing equipment. Many of its operating and finance leases offer the lessee the option to purchase the equipment at fair value or for a fixed purchase option, and most of the leases that do not have a purchase option include renewal provisions resulting in some leases continuing beyond initial contractual terms. The Company's leases do not include early termination options, and continued rent payments are due if leased equipment is not returned at the end of the lease.

As Lessor - Operating Leases

Operating lease income is recognized as a component of noninterest income on a straight-line basis over the lease term. Lease terms range from one to seven years. Assets related to operating leases are included in other assets and the corresponding depreciation expense is recorded on a straight-line basis as a component of other noninterest expense. The net book value of leased assets totaled $33,865 and $30,121 with a residual value of $14,140 and $14,958 as of September 30, 2024 and December 31, 2023, respectively.

The following table presents total equipment finance operating lease income and depreciation expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease income	$	1,637	$	1,785	$	5,087	$	4,515
Depreciation expense	2,102		1,393		5,666		3,924

The following schedule summarizes aggregate future minimum lease payments to be received at September 30, 2024:



Remainder of 2024	$	2,170
2025	7,924
2026	6,001
2027	3,410
2028	3,134
Thereafter	4,045
Total of future minimum payments	$	26,684

As Lessor - Financing Leases

Finance lease income is recognized as a component of loan interest income over the lease term. The finance leases are included as a component of the equipment finance class of financing receivables under the commercial loan segment of the loan portfolio. For the three months ended September 30, 2024 and 2023, interest income on equipment finance leases totaled $1,181 and $995, respectively. For the nine months ended September 30, 2024 and 2023, interest income on equipment finance leases totaled $3,348 and $2,810, respectively.

The lease receivable component of finance lease net investment included within the equipment finance class of financing receivables was $72,125 and $70,150 at September 30, 2024 and December 31, 2023, respectively.

The following schedule summarizes, as of September 30, 2024, aggregate future minimum finance lease payments to be received:



Remainder of 2024	$	7,891
2025	24,024
2026	20,199
2027	15,546
2028	9,013
Thereafter	6,627
Total undiscounted minimum lease payments	83,300
Less: amount representing interest	(11,175)
Total lease receivable	$	72,125

Leases

As Lessee - Operating Leases

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



	September 30, 2024			December 31, 2023
Supplemental balance sheet information
ROU assets	$	8,373		$	9,259

Lease liabilities	$	9,917		$	10,975

Weighted-average remaining lease terms (years)	8.4			8.8
Weighted-average discount rate	3.46		%	3.41		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2024:



Remainder of 2024	$	460
2025	1,716
2026	1,707
2027	1,729
2028	1,539
Thereafter	4,413
Total undiscounted minimum lease payments	11,564
Less: amount representing interest	(1,647)
Total lease liability	$	9,917

The following table presents components of operating lease expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost (included in occupancy expense, net)	$	407	$	430	$	1,221	$	1,240
Variable lease cost (included in occupancy expense, net)	1		1		4		3
Sublease income (included in other noninterest income)	(43)		(42)		(128)		(126)
Total operating lease expense, net	$	365	$	389	$	1,097	$	1,117

As Lessee - Finance Lease

The following table presents supplemental lease cash flow information for the periods indicated:


	Nine Months Ended September 30,
	2024		2023
ROU assets - noncash additions (operating leases)	$	—	$	3,956

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	1,140		1,019
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	—		22

As Lessor - General

As Lessor - Operating Leases

The following table presents total equipment finance operating lease income and depreciation expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease income	$	1,637	$	1,785	$	5,087	$	4,515
Depreciation expense	2,102		1,393		5,666		3,924

The following schedule summarizes aggregate future minimum lease payments to be received at September 30, 2024:



Remainder of 2024	$	2,170
2025	7,924
2026	6,001
2027	3,410
2028	3,134
Thereafter	4,045
Total of future minimum payments	$	26,684

As Lessor - Financing Leases

The following schedule summarizes, as of September 30, 2024, aggregate future minimum finance lease payments to be received:



Remainder of 2024	$	7,891
2025	24,024
2026	20,199
2027	15,546
2028	9,013
Thereafter	6,627
Total undiscounted minimum lease payments	83,300
Less: amount representing interest	(11,175)
Total lease receivable	$	72,125

Leases

As Lessee - Operating Leases

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



	September 30, 2024			December 31, 2023
Supplemental balance sheet information
ROU assets	$	8,373		$	9,259

Lease liabilities	$	9,917		$	10,975

Weighted-average remaining lease terms (years)	8.4			8.8
Weighted-average discount rate	3.46		%	3.41		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2024:



Remainder of 2024	$	460
2025	1,716
2026	1,707
2027	1,729
2028	1,539
Thereafter	4,413
Total undiscounted minimum lease payments	11,564
Less: amount representing interest	(1,647)
Total lease liability	$	9,917

The following table presents components of operating lease expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost (included in occupancy expense, net)	$	407	$	430	$	1,221	$	1,240
Variable lease cost (included in occupancy expense, net)	1		1		4		3
Sublease income (included in other noninterest income)	(43)		(42)		(128)		(126)
Total operating lease expense, net	$	365	$	389	$	1,097	$	1,117

As Lessee - Finance Lease

The following table presents supplemental lease cash flow information for the periods indicated:


	Nine Months Ended September 30,
	2024		2023
ROU assets - noncash additions (operating leases)	$	—	$	3,956

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	1,140		1,019
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	—		22

As Lessor - General

As Lessor - Operating Leases

The following table presents total equipment finance operating lease income and depreciation expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease income	$	1,637	$	1,785	$	5,087	$	4,515
Depreciation expense	2,102		1,393		5,666		3,924

The following schedule summarizes aggregate future minimum lease payments to be received at September 30, 2024:



Remainder of 2024	$	2,170
2025	7,924
2026	6,001
2027	3,410
2028	3,134
Thereafter	4,045
Total of future minimum payments	$	26,684

As Lessor - Financing Leases

The following schedule summarizes, as of September 30, 2024, aggregate future minimum finance lease payments to be received:



Remainder of 2024	$	7,891
2025	24,024
2026	20,199
2027	15,546
2028	9,013
Thereafter	6,627
Total undiscounted minimum lease payments	83,300
Less: amount representing interest	(11,175)
Total lease receivable	$	72,125

Leases

As Lessee - Operating Leases

The following table presents supplemental balance sheet information related to operating leases. ROU assets are included in other assets and lease liabilities are included in other liabilities.



	September 30, 2024			December 31, 2023
Supplemental balance sheet information
ROU assets	$	8,373		$	9,259

Lease liabilities	$	9,917		$	10,975

Weighted-average remaining lease terms (years)	8.4			8.8
Weighted-average discount rate	3.46		%	3.41		%

The following schedule summarizes aggregate future minimum lease payments under these operating leases at September 30, 2024:



Remainder of 2024	$	460
2025	1,716
2026	1,707
2027	1,729
2028	1,539
Thereafter	4,413
Total undiscounted minimum lease payments	11,564
Less: amount representing interest	(1,647)
Total lease liability	$	9,917

The following table presents components of operating lease expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease cost (included in occupancy expense, net)	$	407	$	430	$	1,221	$	1,240
Variable lease cost (included in occupancy expense, net)	1		1		4		3
Sublease income (included in other noninterest income)	(43)		(42)		(128)		(126)
Total operating lease expense, net	$	365	$	389	$	1,097	$	1,117

As Lessee - Finance Lease

The following table presents supplemental lease cash flow information for the periods indicated:


	Nine Months Ended September 30,
	2024		2023
ROU assets - noncash additions (operating leases)	$	—	$	3,956

Cash paid for amounts included in the measurement of lease liabilities (operating leases)	1,140		1,019
Cash paid for amounts included in the measurement of lease liabilities (finance leases)	—		22

As Lessor - General

As Lessor - Operating Leases

The following table presents total equipment finance operating lease income and depreciation expense for the periods indicated:


	Three Months Ended September 30,				Nine Months Ended September 30,
	2024		2023		2024		2023
Operating lease income	$	1,637	$	1,785	$	5,087	$	4,515
Depreciation expense	2,102		1,393		5,666		3,924

The following schedule summarizes aggregate future minimum lease payments to be received at September 30, 2024:



Remainder of 2024	$	2,170
2025	7,924
2026	6,001
2027	3,410
2028	3,134
Thereafter	4,045
Total of future minimum payments	$	26,684

As Lessor - Financing Leases

The following schedule summarizes, as of September 30, 2024, aggregate future minimum finance lease payments to be received:



Remainder of 2024	$	7,891
2025	24,024
2026	20,199
2027	15,546
2028	9,013
Thereafter	6,627
Total undiscounted minimum lease payments	83,300
Less: amount representing interest	(11,175)
Total lease receivable	$	72,125

Merger with Quantum

9 Months Ended

Sep. 30, 2024

Business Combination and Asset Acquisition [Abstract]

Merger with Quantum

On February 12, 2023, the Company merged with Quantum which operated two locations in the Atlanta metro area. The aggregate amount of consideration to be paid per the purchase agreement of approximately $70,771, inclusive of consideration of common stock, other cash consideration, and cash in lieu of fractional shares, included $15,869 of cash consideration paid by Quantum to its stockholders in advance of the closing date as is further described below. These distributions reduced Quantum's stockholders' equity by an equal amount prior to the transaction closing date.


	Quantum		Fair Value Adjustments		Provisional Period Adjustments		As Recorded by HomeTrust
Assets acquired
Cash and cash equivalents	$	47,769	$	—	$	—	$	47,769
Debt securities available for sale	10,608		—		—		10,608
FHLB and FRB stock	1,125		—		—		1,125
Loans(1)	567,140		(5,207)		—		561,933
Premises and equipment	4,415		4,668		—		9,083
Accrued interest receivable	1,706		—		—		1,706

BOLI	9,066		—		—		9,066

Core deposit intangibles	—		12,210		—		12,210
Other assets	2,727		569		(179)		3,117
Total assets acquired	$	644,556	$	12,240	$	(179)	$	656,617
Liabilities assumed
Deposits	$	570,419	$	183	$	—	$	570,602
Junior subordinated debt	11,341		(1,408)		—		9,933
Other borrowings	24,728		—		—		24,728
Deferred income taxes	—		1,341		250		1,591
Other liabilities	3,334		—		—		3,334
Total liabilities assumed	$	609,822	$	116	$	250	$	610,188

Net assets acquired							$	46,429

Consideration paid
Common stock consideration
Shares of Quantum							574,157
Exchange ratio							2.3942
HomeTrust common stock issued							1,374,647
Price per share of HomeTrust common stock on February 10, 2023							$	27.45
HomeTrust common stock consideration							$	37,734
Cash consideration(2)							17,168
Total consideration							$	54,902

Goodwill							$	8,473

Goodwill of $8,473 arising from the merger consisted largely of synergies and the cost saves resulting from the combining of operations of the companies, and is not expected to be deductible for income tax purposes.

Fair Value of Financial Instruments - Schedule of Fair Value, by Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Inputs, Level 1 \| Cash and interest-bearing deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	$ 293,477	$ 347,140
Fair Value, Inputs, Level 1 \| Certificates of deposit in other banks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Small Business Investment Company Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Loans held for sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	2,968	3,359
Fair Value, Inputs, Level 1 \| Loans held for sale, at the lower of cost or fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Loans, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	229	107
Fair Value, Inputs, Level 1 \| Noninterest-bearing and NOW deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Savings accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Junior Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 1 \| Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 2 \| Cash and interest-bearing deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 2 \| Certificates of deposit in other banks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	29,290	34,722
Fair Value, Inputs, Level 2 \| Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	140,552	126,950
Fair Value, Inputs, Level 2 \| Small Business Investment Company Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 2 \| Loans held for sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 2 \| Loans held for sale, at the lower of cost or fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 2 \| Loans, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 2 \| Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	615	656
Fair Value, Inputs, Level 2 \| Noninterest-bearing and NOW deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,219,018	1,376,220
Fair Value, Inputs, Level 2 \| Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,345,289	1,246,807
Fair Value, Inputs, Level 2 \| Savings accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	179,762	194,486
Fair Value, Inputs, Level 2 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,018,102	839,501
Fair Value, Inputs, Level 2 \| Junior Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	9,802	9,767
Fair Value, Inputs, Level 2 \| Other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	260,185	433,747
Fair Value, Inputs, Level 2 \| Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	10,796	6,849
Fair Value, Inputs, Level 3 \| Cash and interest-bearing deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Certificates of deposit in other banks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Small Business Investment Company Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	15,489	13,789
Fair Value, Inputs, Level 3 \| Loans held for sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Loans held for sale, at the lower of cost or fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	191,792	200,869
Fair Value, Inputs, Level 3 \| Loans, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	3,568,832	3,472,491
Fair Value, Inputs, Level 3 \| Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	16,679	16,139
Fair Value, Inputs, Level 3 \| Noninterest-bearing and NOW deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Savings accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Junior Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Fair Value, Inputs, Level 3 \| Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	0	0
Carrying Value \| Cash and interest-bearing deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	293,477	347,140
Carrying Value \| Certificates of deposit in other banks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	29,290	34,722
Carrying Value \| Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	140,552	126,950
Carrying Value \| FHLB Stock
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	18,384	18,393
Carrying Value \| Small Business Investment Company Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	15,489	13,789
Carrying Value \| Loans held for sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	2,968	3,359
Carrying Value \| Loans held for sale, at the lower of cost or fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	189,722	198,433
Carrying Value \| Loans, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	3,650,761	3,591,381
Carrying Value \| Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	17,523	16,902
Carrying Value \| Noninterest-bearing and NOW deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,219,018	1,376,220
Carrying Value \| Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,345,289	1,246,807
Carrying Value \| Savings accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	179,762	194,486
Carrying Value \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,017,519	843,860
Carrying Value \| Junior Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	10,096	10,021
Carrying Value \| Other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	260,013	433,763
Carrying Value \| Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	10,796	6,849
Fair Value \| Cash and interest-bearing deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	293,477	347,140
Fair Value \| Certificates of deposit in other banks
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	29,290	34,722
Fair Value \| Securities available for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	140,552	126,950
Fair Value \| Small Business Investment Company Funds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	15,489	13,789
Fair Value \| Loans held for sale, at fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	2,968	3,359
Fair Value \| Loans held for sale, at the lower of cost or fair value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	191,792	200,869
Fair Value \| Loans, net
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	3,568,832	3,472,491
Fair Value \| Accrued interest receivable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	17,523	16,902
Fair Value \| Noninterest-bearing and NOW deposits
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,219,018	1,376,220
Fair Value \| Money market accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,345,289	1,246,807
Fair Value \| Savings accounts
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	179,762	194,486
Fair Value \| Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	1,018,102	839,501
Fair Value \| Junior Subordinated Debt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	9,802	9,767
Fair Value \| Other borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	260,185	433,747
Fair Value \| Accrued interest payable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial instruments owned	$ 10,796	$ 6,849

Fair Value of Financial Instruments - Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Available-for-Sale Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	$ 140,552	$ 126,950
Available-for-Sale Securities \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Available-for-Sale Securities \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	140,552	126,950
Available-for-Sale Securities \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
MBS, residential
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	132,756	104,499
MBS, residential \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
MBS, residential \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	132,756	104,499
MBS, residential \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Municipal bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	3,424	3,409
Municipal bonds \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Municipal bonds \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	3,424	3,409
Municipal bonds \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	4,372	19,042
Corporate bonds \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Corporate bonds \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	4,372	19,042
Corporate bonds \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Loans held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	2,968	3,359
Loans held for sale \| Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Loans held for sale \| Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	2,968	3,359
Loans held for sale \| Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	$ 0	$ 0

Loans and Allowance for Credit Losses on Loans - Past Due Financing Receivables (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	$ 3,698,892	$ 3,640,022
30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	9,592	13,807
90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	14,678	10,310
Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	24,270	24,117
Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	3,674,622	3,615,905
Commercial Real Estate
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,841,089	1,806,131
Commercial Real Estate \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	4,040	4,689
Commercial Real Estate \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	4,616	501
Commercial Real Estate \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	8,656	5,190
Commercial Real Estate \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,832,433	1,800,941
Commercial Real Estate \| Construction Loans
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	300,905	305,269
Commercial Real Estate \| Construction Loans \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial Real Estate \| Construction Loans \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial Real Estate \| Construction Loans \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial Real Estate \| Construction Loans \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	300,905	305,269
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	544,689	536,545
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	4,040	657
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	612	501
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	4,652	1,158
Commercial Real Estate \| Commercial Real Estate Loan, Owner Occupied \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	540,037	535,387
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	881,340	875,694
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	4,032
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	4,004	0
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	4,004	4,032
Commercial Real Estate \| Commercial Real Estate Loan, Non-Owner Occupied \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	877,336	871,662
Commercial Real Estate \| Multifamily Loan
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	114,155	88,623
Commercial Real Estate \| Multifamily Loan \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial Real Estate \| Multifamily Loan \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial Real Estate \| Multifamily Loan \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial Real Estate \| Multifamily Loan \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	114,155	88,623
Commercial
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	888,402	853,120
Commercial \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	2,165	6,385
Commercial \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	6,518	6,686
Commercial \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	8,683	13,071
Commercial \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	879,719	840,049
Commercial \| Commercial and Industrial Loan
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	286,809	237,255
Commercial \| Commercial and Industrial Loan \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	227	974
Commercial \| Commercial and Industrial Loan \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	3,283	2,667
Commercial \| Commercial and Industrial Loan \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	3,510	3,641
Commercial \| Commercial and Industrial Loan \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	283,299	233,614
Commercial \| Equipment Finance
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	443,033	465,573
Commercial \| Equipment Finance \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,938	5,411
Commercial \| Equipment Finance \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	3,235	4,019
Commercial \| Equipment Finance \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	5,173	9,430
Commercial \| Equipment Finance \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	437,860	456,143
Commercial \| Municipal Loans
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	158,560	150,292
Commercial \| Municipal Loans \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial \| Municipal Loans \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial \| Municipal Loans \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Commercial \| Municipal Loans \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	158,560	150,292
Residential
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	885,770	866,929
Residential \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	2,924	2,198
Residential \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	3,333	2,822
Residential \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	6,257	5,020
Residential \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	879,513	861,909
Residential \| Construction Loans
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	63,016	96,646
Residential \| Construction Loans \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	0	0
Residential \| Construction Loans \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	132	132
Residential \| Construction Loans \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	132	132
Residential \| Construction Loans \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	62,884	96,514
Residential \| One-To-Four Family Loan
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	627,845	584,405
Residential \| One-To-Four Family Loan \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,360	958
Residential \| One-To-Four Family Loan \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,287	1,068
Residential \| One-To-Four Family Loan \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	2,647	2,026
Residential \| One-To-Four Family Loan \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	625,198	582,379
Residential \| HELOC's Loan
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	194,909	185,878
Residential \| HELOC's Loan \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,564	1,240
Residential \| HELOC's Loan \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	1,914	1,622
Residential \| HELOC's Loan \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	3,478	2,862
Residential \| HELOC's Loan \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	191,431	183,016
Consumer Portfolio
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	83,631	113,842
Consumer Portfolio \| 30-89 Days
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	463	535
Consumer Portfolio \| 90 Days+
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	211	301
Consumer Portfolio \| Total
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	674	836
Consumer Portfolio \| Current
Financing Receivable, Past Due [Line Items]
Loans, net of deferred loan fees and costs	$ 82,957	$ 113,006

Fair Value of Financial Instruments - Schedule of Fair Value Measurements, Nonrecurring (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	$ 4,787	$ 1,124
Commercial \| Commercial Real Estate Loan, Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	593	438
Commercial \| Commercial Real Estate Loan, Non-Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	3,186
Commercial \| Commercial and Industrial Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	240	108
Commercial \| Equipment Finance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	768	578
Fair Value, Inputs, Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 1 \| Commercial \| Commercial Real Estate Loan, Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 1 \| Commercial \| Commercial Real Estate Loan, Non-Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0
Fair Value, Inputs, Level 1 \| Commercial \| Commercial and Industrial Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 1 \| Commercial \| Equipment Finance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 2 \| Commercial \| Commercial Real Estate Loan, Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 2 \| Commercial \| Commercial Real Estate Loan, Non-Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0
Fair Value, Inputs, Level 2 \| Commercial \| Commercial and Industrial Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 2 \| Commercial \| Equipment Finance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	0	0
Fair Value, Inputs, Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	4,787	1,124
Fair Value, Inputs, Level 3 \| Commercial \| Commercial Real Estate Loan, Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	593	438
Fair Value, Inputs, Level 3 \| Commercial \| Commercial Real Estate Loan, Non-Owner Occupied
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	3,186
Fair Value, Inputs, Level 3 \| Commercial \| Commercial and Industrial Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	240	108
Fair Value, Inputs, Level 3 \| Commercial \| Equipment Finance
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial assets measured at fair value on a non-recurring basis	$ 768	$ 578