| Loan Diversification
30.9%
10.0%
42.5%
12.5%
3.3% 0.8%
Loan Segments as of December 31, 2023
Construction Loans
Commercial
Business
Commercial
Real Estate
Real Estate Mortgage
Municipal Personal Consumer
• Loan growth of 8.4% in 2023.
• Commercial real estate loan growth through organic
growth and strategic partnerships.
• Residential mortgage loan growth for the second
consecutive year.
• Growth without sacrificing asset quality.
• Relatively stable loan segmentation.
Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
Total Loans (in thousands) $400,590 $417,661 $418,303 $484,512 $525,394
Real Estate Mortgage $152,278 $141,438 $131,754 $150,290 $162,385
Construction Loans $46,710 $61,051 $43,281 $50,748 $52,589
Commercial Real Estate $124,622 $122,698 $159,806 $199,206 $223,077
Commercial Business $51,785 $68,057 $62,639 $61,458 $65,821
Municipal Loans $16,377 $18,550 $16,323 $18,770 $17,232
Personal Consumer $8,818 $5,867 $4,500 $4,040 $4,290
Net Loan Growth 4.3% 0.2% 15.8% 8.4%
Percentage of Total Loans Dec-19 Dec-20 Dec-21 Dec-22 Dec-23
Real Estate Mortgage 38.0% 33.9% 31.5% 31.0% 30.9%
Construction Loans 11.7% 14.6% 10.3% 10.5% 10.0%
Commercial Real Estate 31.1% 29.4% 38.2% 41.1% 42.5%
Commercial Business 12.9% 16.3% 15.0% 12.7% 12.5%
Municipal Loans 4.1% 4.4% 3.9% 3.9% 3.3%
Personal Consumer 2.2% 1.4% 1.1% 0.8% 0.8% |