Hanmi Financial Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loans (Tables)

Loans (Tables)

3 Months Ended

Mar. 31, 2024

Loans consisted of the following as of the dates indicated:


	March 31, 2024			December 31, 2023
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,091,059		$	1,107,360
Hospitality		740,160			740,519
Office		575,847			574,981
Other (1)		1,367,395			1,366,534
Total commercial property loans		3,774,461			3,789,394
Construction		104,216			100,345
Residential (2)		970,362			962,661
Total real estate loans		4,849,039			4,852,400
Commercial and industrial loans (3)		774,851			747,819
Equipment financing agreements		553,950			582,215
Loans receivable		6,177,840			6,182,434
Allowance for credit losses		(68,270	)		(69,462	)
Loans receivable, net	$	6,109,570		$	6,112,972

(1)

Includes mixed-use, multifamily, industrial, gas stations, faith-based facilities, and medical; all other property types represent less than one percent of total loans receivable.

(2)

Includes $1.5 million and $1.9 million of home equity loans and lines, and $5.3 million and $4.5 million of personal loans at March 31, 2024 and December 31, 2023, respectively.

(3)

At March 31, 2024 and December 31, 2023, Paycheck Protection Program loans were $0.1 million and $0.2 million, respectively.

Activity for Loans Held for Sale

The following is the activity for loans held for sale for the following periods:


	Real Estate			Commercial and Industrial			Total
	(in thousands)
Three months ended March 31, 2024
Balance at beginning of period	$	8,792		$	3,221		$	12,013
Originations and transfers		9,614			8,018			17,632
Sales		(16,900	)		(8,687	)		(25,587	)
Principal paydowns and amortization		(52	)		(7	)		(59	)
Balance at end of period	$	1,454		$	2,545		$	3,999

Three months ended March 31, 2023
Balance at beginning of period	$	3,775		$	4,268		$	8,043
Originations and transfers		16,387			8,929			25,316
Sales		(19,781	)		(9,918	)		(29,699	)
Principal paydowns and amortization		(2	)		(6	)		(8	)
Balance at end of period	$	379		$	3,273		$	3,652

Loans Purchased by Portfolio Segment

The following table presents loans purchased by portfolio segment for the following periods:


	Three Months Ended
	March 31,
	2024		2023
	(in thousands)
Commercial real estate	$	274	$	—
Commercial and industrial		9,924		—
Residential real estate		—		—
Total	$	10,198	$	—

Allowance for Credit Losses by Portfolio Segment

The following table details the information on the allowance for credit losses by portfolio segment for the following periods:


	Real Estate			Commercial and Industrial			Equipment Financing Agreements			Total
	(in thousands)
Three months ended March 31, 2024
Balance at beginning of period	$	45,499		$	10,257		$	13,706			69,462
Charge-offs		—			(155	)		(1,968	)		(2,123	)
Recoveries		46			58			423			527
Credit loss expense (recovery)		(2,961	)		1,676			1,689			404
Ending balance	$	42,584		$	11,836		$	13,850		$	68,270

Three months ended March 31, 2023
Balance at beginning of period	$	44,026		$	15,267		$	12,230		$	71,523
Charge-offs		(412	)		(210	)		(1,616	)		(2,238	)
Recoveries		68			235			480			783
Credit loss expense (recovery)		(151	)		41			2,291			2,181
Ending balance	$	43,531		$	15,333		$	13,385		$	72,249

The table below presents the allowance for credit losses by portfolio segment as a percentage of the total allowance for credit losses and loans by portfolio segment as a percentage of the aggregate investment of loans receivable as of:


	March 31, 2024										December 31, 2023
	Allowance Amount		Percentage of Total Allowance			Total Loans		Percentage of Total Loans			Allowance Amount		Percentage of Total Allowance			Total Loans		Percentage of Total Loans
	(dollars in thousands)
Real estate loans:
Commercial property
Retail	$	10,095		14.8	%	$	1,091,059		17.7	%	$	10,264		14.8	%	$	1,107,360		17.9	%
Hospitality		11,668		17.1			740,160		12.0			15,534		22.4			740,519		12.0
Office		3,740		5.5			575,847		9.3			3,024		4.4			574,981		9.3
Other		8,270		12.1			1,367,395		22.1			8,663		12.4			1,366,534		22.1
Total commercial property loans		33,773		49.5			3,774,461		61.1			37,485		54.0			3,789,394		61.3
Construction		2,611		3.8			104,216		1.7			2,756		4.0			100,345		1.6
Residential		6,200		9.1			970,362		15.7			5,258		7.5			962,661		15.6
Total real estate loans		42,584		62.4			4,849,039		78.5			45,499		65.5			4,852,400		78.5
Commercial and industrial loans		11,836		17.3			774,851		12.5			10,257		14.8			747,819		12.1
Equipment financing agreements		13,850		20.3			553,950		9.0			13,706		19.7			582,215		9.4
Total	$	68,270		100.0	%	$	6,177,840		100.0	%	$	69,462		100.0	%	$	6,182,434		100.0	%

Summary of Amortized Cost Basis of Collateral Dependent Loans By Class of Loans

The following table represents the amortized cost basis of collateral-dependent loans by class of loans, for which repayment is expected to be obtained through the sale of the underlying collateral, as of:


	March 31, 2024		December 31, 2023
	(in thousands)
Real estate loans:
Commercial property
Retail	$	—	$	1,530
Hospitality		299		338
Other		2,147		305
Total commercial property loans		2,446		2,173
Residential		—		1
Total real estate loans		2,446		2,174
Commercial and industrial loans		3,927		5,178
Total	$	6,373	$	7,352

Credit Quality of Loan Portfolio


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2024		2023		2022		2021		2020			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
March 31, 2024
Real estate loans:
Commercial property
Risk Rating							`
Pass / Pass-Watch	$	109,310	$	614,621	$	978,263	$	847,463	$	567,561		$	578,221		$	46,941		$	3,742,380
Special Mention		4,399		—		3,979		3,252		5,628			967			1,409			19,634
Classified		1,573		—		1,197		—		—			9,677			—			12,447
Total commercial property		115,282		614,621		983,439		850,715		573,189			588,865			48,350			3,774,461
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		(5	)		(41	)		—			(46	)

Construction
Risk Rating
Pass / Pass-Watch		49,902		26,003		—		—		—			—			—			75,905
Special Mention		—		—		—		28,311		—			—			—			28,311
Classified		—		—		—		—		—			—			—			—
Total construction		49,902		26,003		—		28,311		—			—			—			104,216
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			—			—			—

Residential
Risk Rating
Pass / Pass-Watch		52,132		256,261		369,965		156,338		12,510			117,129			5,777			970,112
Special Mention		—		—		—		—		—			—			250			250
Classified		—		—		—		—		—			—			—			—
Total residential		52,132		256,261		369,965		156,338		12,510			117,129			6,027			970,362
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			—			—			—

Total real estate loans
Risk Rating
Pass / Pass-Watch		211,344		896,885		1,348,228		1,003,801		580,071			695,350			52,718			4,788,397
Special Mention		4,399		—		3,979		31,563		5,628			967			1,659			48,195
Classified		1,573		—		1,197		—		—			9,677			—			12,447
Total real estate loans		217,316		896,885		1,353,404		1,035,364		585,699			705,994			54,377			4,849,039
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		(5	)		(41	)		—			(46	)

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		97,014		98,018		161,227		76,197		17,368			19,615			287,010			756,449
Special Mention		403		—		13,595		—		99			24			—			14,121
Classified		—		—		96		—		—			258			3,927			4,281
Total commercial and industrial loans		97,417		98,018		174,918		76,197		17,467			19,897			290,937			774,851
YTD gross charge-offs		—		—		126		—		—			29			—			155
YTD net charge-offs (recoveries)		—		—		126		—		—			5			(34	)		97

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		35,518		198,213		190,684		88,306		19,607			14,681			—			547,009
Special Mention		—		—		—		—		—			—			—			—
Classified		—		846		3,613		1,729		216			537			—			6,941
Total equipment financing agreements		35,518		199,059		194,297		90,035		19,823			15,218			—			553,950
YTD gross charge-offs		—		19		1,364		400		170			15			—			1,968
YTD net charge-offs (recoveries)		—		19		1,207		310		164			(155	)		—			1,545

Total loans receivable:
Risk Rating
Pass / Pass-Watch		343,876		1,193,116		1,700,139		1,168,304		617,046			729,646			339,728			6,091,855
Special Mention		4,802		—		17,574		31,563		5,727			991			1,659			62,316
Classified		1,573		846		4,906		1,729		216			10,472			3,927			23,669
Total loans receivable	$	350,251	$	1,193,962	$	1,722,619	$	1,201,596	$	622,989		$	741,109		$	345,314		$	6,177,840
YTD gross charge-offs		—		19		1,490		400		170			44			—			2,123
YTD net charge-offs (recoveries)		—		19		1,333		310		159			(191	)		(34	)		1,596

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2023		2022		2021			2020		2019		Prior			Revolving Loans Amortized Cost Basis			Total

December 31, 2023
Real estate loans:
Commercial property
Risk Rating
Pass / Pass-Watch	$	683,819	$	986,822	$	858,821		$	572,950	$	378,067	$	238,400		$	30,236		$	3,749,115
Special Mention		4,400		3,997		3,271			5,670		711		2,310			1,406			21,765
Classified		3,065		1,080		4,899			—		5,578		3,892			—			18,514
Total commercial property		691,284		991,899		866,991			578,620		384,356		244,602			31,642			3,789,394
YTD gross charge-offs		—		—		—			411		—		216			—			627
YTD net charge-offs (recoveries)		—		—		—			403		—		(81	)		—			322

Construction
Risk Rating
Pass / Pass-Watch		72,039		—		—			—		—		—			—			72,039
Special Mention		—		—		28,306			—		—		—			—			28,306
Classified		—		—		—			—		—		—			—			—
Total construction		72,039		—		28,306			—		—		—			—			100,345
YTD gross charge-offs		—		—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—		—		—			—		—		—			—			—

Residential
Risk Rating
Pass / Pass-Watch		290,196		375,712		158,618			12,656		217		119,736			5,025			962,160
Special Mention		—		—		—			—		—		—			500			500
Classified		—		—		—			—		—		1			—			1
Total residential		290,196		375,712		158,618			12,656		217		119,737			5,525			962,661
YTD gross charge-offs		—		—		—			—		—		—			—			—
YTD net charge-offs (recoveries)		—		—		—			—		—		(7	)		—			(7	)

Total real estate loans
Risk Rating
Pass / Pass-Watch		1,046,054		1,362,534		1,017,439			585,606		378,284		358,136			35,261			4,783,314
Special Mention		4,400		3,997		31,577			5,670		711		2,310			1,906			50,571
Classified		3,065		1,080		4,899			—		5,578		3,893			—			18,515
Total real estate loans		1,053,519		1,367,611		1,053,915			591,276		384,573		364,339			37,167			4,852,400
YTD gross charge-offs		—		—		—			411		—		216			—			627
YTD net charge-offs (recoveries)		—		—		—			403		—		(88	)		—			315

Commercial and industrial loans:
Risk Rating
Pass / Pass-Watch		177,864		169,209		84,198			31,348		9,971		12,920			242,044			727,554
Special Mention		—		14,578		—			102		—		65			(1	)		14,744
Classified		329		—		—			—		79		174			4,939			5,521
Total commercial and industrial loans		178,193		183,787		84,198			31,450		10,050		13,159			246,982			747,819
YTD gross charge-offs		—		17		—			—		110		410			6,120			6,657
YTD net charge-offs (recoveries)		—		5		(7	)		—		101		(6,621	)		6,090			(432	)

Equipment financing agreements:
Risk Rating
Pass / Pass-Watch		215,670		211,228		101,622			24,340		18,832		3,192			—			574,884
Special Mention		—		—		—			—		—		—			—			—
Classified		392		4,171		1,945			365		401		57			—			7,331
Total equipment financing agreements		216,062		215,399		103,567			24,705		19,233		3,249			—			582,215
YTD gross charge-offs		178		3,944		3,267			386		799		232			—			8,806
YTD net charge-offs (recoveries)		178		3,744		2,858			244		250		(114	)		—			7,160

Total loans receivable:
Risk Rating
Pass / Pass-Watch		1,439,588		1,742,971		1,203,259			641,294		407,087		374,248			277,305			6,085,752
Special Mention		4,400		18,575		31,577			5,772		711		2,375			1,905			65,315
Classified		3,786		5,251		6,844			365		6,058		4,124			4,939			31,367
Total loans receivable	$	1,447,774	$	1,766,797	$	1,241,680		$	647,431	$	413,856	$	380,747		$	284,149		$	6,182,434
YTD gross charge-offs		178		3,961		3,267			797		909		858			6,120			16,090
YTD net charge-offs (recoveries)		178		3,749		2,851			647		351		(6,823	)		6,090			7,043

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.

Loans by Vintage Year and Payment Performance


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2024		2023		2022		2021		2020			Prior			Revolving Loans Amortized Cost Basis			Total
	(in thousands)
March 31, 2024
Real estate loans:
Commercial property
Payment performance
Performing	$	113,709	$	614,621	$	983,314	$	850,715	$	573,189		$	587,509		$	48,350		$	3,771,407
Nonperforming		1,573		—		125		—		—			1,356			—			3,054
Total commercial property		115,282		614,621		983,439		850,715		573,189			588,865			48,350			3,774,461
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		(5	)		(41	)		—			(46	)

Construction
Payment performance
Performing		49,902		26,003		—		28,311		—			—			—			104,216
Nonperforming		—		—		—		—		—			—			—			—
Total construction		49,902		26,003		—		28,311		—			—			—			104,216
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			—			—			—

Residential
Payment performance
Performing		52,132		256,261		369,965		156,338		12,510			117,129			6,027			970,362
Nonperforming		—		—		—		—		—			—			—			—
Total residential		52,132		256,261		369,965		156,338		12,510			117,129			6,027			970,362
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		—			—			—			—

Total real estate loans
Payment performance
Performing		215,743		896,885		1,353,279		1,035,364		585,699			704,638			54,377			4,845,985
Nonperforming		1,573		—		125		—		—			1,356			—			3,054
Total real estate loans		217,316		896,885		1,353,404		1,035,364		585,699			705,994			54,377			4,849,039
YTD gross charge-offs		—		—		—		—		—			—			—			—
YTD net charge-offs (recoveries)		—		—		—		—		(5	)		(41	)		—			(46	)

Commercial and industrial loans:
Payment performance
Performing		97,417		98,018		174,904		76,197		17,467			19,809			287,010			770,822
Nonperforming		—		—		14		—		—			88			3,927			4,029
Total commercial and industrial loans		97,417		98,018		174,918		76,197		17,467			19,897			290,937			774,851
YTD gross charge-offs		—		—		126		—		—			29			—			155
YTD net charge-offs (recoveries)		—		—		126		—		—			5			(34	)		97

Equipment financing agreements:
Payment performance
Performing		35,518		198,213		190,684		88,306		19,607			14,681			—			547,009
Nonperforming		—		846		3,613		1,729		216			537			—			6,941
Total equipment financing agreements		35,518		199,059		194,297		90,035		19,823			15,218			—			553,950
YTD gross charge-offs		—		19		1,364		400		170			15			—			1,968
YTD net charge-offs (recoveries)		—		19		1,207		310		164			(155	)		—			1,545

Total loans receivable:
Payment performance
Performing		348,678		1,193,116		1,718,867		1,199,867		622,773			739,128			341,387			6,163,816
Nonperforming		1,573		846		3,752		1,729		216			1,981			3,927			14,024
Total loans receivable	$	350,251	$	1,193,962	$	1,722,619	$	1,201,596	$	622,989		$	741,109		$	345,314		$	6,177,840
YTD gross charge-offs		—		19		1,490		400		170			44			—			2,123
YTD net charge-offs (recoveries)		—		19		1,333		310		159			(191	)		(34	)		1,596

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.


	Term Loans
	Amortized Cost Basis by Origination Year (1)
	2023		2022		2021			2020		2019		Prior			Revolving Loans Amortized Cost Basis		Total

December 31, 2023
Real estate loans:
Commercial property
Payment performance
Performing	$	689,449	$	991,899	$	866,841		$	578,620	$	384,275	$	243,819		$	31,642	$	3,786,545
Nonperforming		1,835		—		150			—		81		783			—		2,849
Total commercial property		691,284		991,899		866,991			578,620		384,356		244,602			31,642		3,789,394
YTD gross charge-offs		—		—		—			411		—		216			—		627
YTD net charge-offs (recoveries)		—		—		—			403		—		(81	)		—		322

Construction
Payment performance
Performing		72,039		—		28,306			—		—		—			—		100,345
Nonperforming		—		—		—			—		—		—			—		—
Total construction		72,039		—		28,306			—		—		—			—		100,345
YTD gross charge-offs		—		—		—			—		—		—			—		—
YTD net charge-offs (recoveries)		—		—		—			—		—		—			—		—

Residential
Payment performance
Performing		290,196		375,712		158,618			12,656		217		119,736			5,525		962,660
Nonperforming		—		—		—			—		—		1			—		1
Total residential		290,196		375,712		158,618			12,656		217		119,737			5,525		962,661
YTD gross charge-offs		—		—		—			—		—		—			—		—
YTD net charge-offs (recoveries)		—		—		—			—		—		(7	)		—		(7	)

Total real estate loans
Payment performance
Performing		1,051,684		1,367,611		1,053,765			591,276		384,492		363,555			37,167		4,849,550
Nonperforming		1,835		—		150			—		81		784			—		2,850
Total real estate loans		1,053,519		1,367,611		1,053,915			591,276		384,573		364,339			37,167		4,852,400
YTD gross charge-offs		—		—		—			411		—		216			—		627
YTD net charge-offs (recoveries)		—		—		—			403		—		(88	)		—		315

Commercial and industrial loans:
Payment performance
Performing		177,864		183,787		84,198			31,415		10,050		13,066			242,134		742,514
Nonperforming		329		—		—			35		—		93			4,848		5,305
Total commercial and industrial loans		178,193		183,787		84,198			31,450		10,050		13,159			246,982		747,819
YTD gross charge-offs		—		17		—			—		110		410			6,120		6,657
YTD net charge-offs (recoveries)		—		5		(7	)		—		101		(6,621	)		6,090		(432	)

Equipment financing agreements:
Payment performance
Performing		215,670		211,228		101,622			24,340		18,844		3,192			—		574,896
Nonperforming		392		4,171		1,945			365		389		57			—		7,319
Total equipment financing agreements		216,062		215,399		103,567			24,705		19,233		3,249			—		582,215
YTD gross charge-offs		178		3,944		3,267			386		799		232			—		8,806
YTD net charge-offs (recoveries)		178		3,744		2,858			244		250		(114	)		—		7,160

Total loans receivable:
Payment performance
Performing		1,445,218		1,762,626		1,239,585			647,031		413,386		379,813			279,301		6,166,960
Nonperforming		2,556		4,171		2,095			400		470		934			4,848		15,474
Total loans receivable	$	1,447,774	$	1,766,797	$	1,241,680		$	647,431	$	413,856	$	380,747		$	284,149	$	6,182,434
YTD gross charge-offs		178		3,961		3,267			797		909		858			6,120		16,090
YTD net charge-offs (recoveries)		178		3,749		2,851			647		351		(6,823	)		6,090		7,043

(1)

Includes extensions, renewals, or modifications of credit contracts, which consist of a new credit decision.

Analysis of Past Due Loans, Including Loans on Nonaccrual Status, Disaggregated by Loan Class

The following is an aging analysis of loans, including loans on nonaccrual status, disaggregated by loan class, as of:


	30-59 Days Past Due		60-89 Days Past Due		90 Days or More Past Due		Total Past Due		Current		Total
	(in thousands)
March 31, 2024
Real estate loans:
Commercial property
Retail	$	757	$	—	$	—	$	757	$	1,090,302	$	1,091,059
Hospitality		—		—		—		—		740,160		740,160
Office		—		—		—		—		575,847		575,847
Other		2,950		366		574		3,890		1,363,505		1,367,395
Total commercial property loans		3,707		366		574		4,647		3,769,814		3,774,461
Construction		—		—		—		—		104,216		104,216
Residential		2,190		1,410		—		3,600		966,762		970,362
Total real estate loans		5,897		1,776		574		8,247		4,840,792		4,849,039
Commercial and industrial loans		107		3,989		—		4,096		770,755		774,851
Equipment financing agreements		7,452		1,994		3,924		13,370		540,580		553,950
Total loans receivable	$	13,456	$	7,759	$	4,498	$	25,713	$	6,152,127	$	6,177,840

December 31, 2023
Real estate loans:
Commercial property
Retail	$	632	$	—	$	—	$	632	$	1,106,728	$	1,107,360
Hospitality		—		150		22		172		740,347		740,519
Office		—		—		—		—		574,981		574,981
Other		592		—		—		592		1,365,942		1,366,534
Total commercial property loans		1,224		150		22		1,396		3,787,998		3,789,394
Construction		—		—		—		—		100,345		100,345
Residential		521		336		1		858		961,803		962,661
Total real estate loans		1,745		486		23		2,254		4,850,146		4,852,400
Commercial and industrial loans		76		120		5,178		5,374		742,445		747,819
Equipment financing agreements		7,138		2,134		4,551		13,823		568,392		582,215
Total loans receivable	$	8,959	$	2,740	$	9,752	$	21,451	$	6,160,983	$	6,182,434

Schedule of Amortized Cost Basis of Loans on Nonaccrual Status and Loans Past Due 90 Days and Still Accruing

The following table represents the amortized cost basis of loans on nonaccrual status and loans past due 90 days and still accruing as of March 31, 2024 and December 31, 2023.


	March 31, 2024
	Nonaccrual Loans With No Allowance for Credit Losses		Nonaccrual Loans With Allowance for Credit Losses		Loans Past Due 90 Days Still Accruing		Total Nonperforming Loans
	(in thousands)
Real estate loans:
Commercial property
Retail	$	161	$	437	$	—	$	598
Hospitality		292		—		—		292
Office		—		—		—		—
Other		2,148		16		—		2,164
Total commercial property loans		2,601		453		—		3,054
Total real estate loans		2,601		453		—		3,054
Commercial and industrial loans		—		4,029		—		4,029
Equipment financing agreements		663		6,278		—		6,941
Total	$	3,264	$	10,760	$	—	$	14,024

	December 31, 2023
	Nonaccrual Loans With No Allowance for Credit Losses		Nonaccrual Loans With Allowance for Credit Losses		Loans Past Due 90 Days Still Accruing		Total Nonperforming Loans
	(in thousands)
Real estate loans:
Commercial property
Retail	$	1,717	$	321	$	—	$	2,038
Hospitality		338		150		—		488
Other		305		18		—		323
Total commercial property loans		2,360		489		—		2,849
Residential		1		—		—		1
Total real estate loans		2,361		489		—		2,850
Commercial and industrial loans		5,213		92		—		5,305
Equipment financing agreements		570		6,749		—		7,319
Total	$	8,144	$	7,330	$	—	$	15,474

Non-Performing Assets

The following table details nonperforming assets as of the dates indicated:


	March 31, 2024		December 31, 2023
	(in thousands)
Nonaccrual loans	$	14,024	$	15,474
Total nonperforming loans receivable		14,024		15,474
Other real estate owned (“OREO”)		117		117
Total nonperforming assets	$	14,141	$	15,591