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Allowance For Credit Losses | 9 Months Ended
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Sep. 30, 2024
Receivables [Abstract] |
Allowance For Credit Losses | Allowance for Credit Losses The following tables summarize the activity in the allowance for credit losses, by portfolio loan classification, for the three and nine months ended September 30, 2024 and 2023 (in thousands). The allocation of a portion of the allowance in one portfolio segment does not preclude its availability to absorb losses in other portfolio segments.
| Beginning Balance | Charge-offs | Recoveries | Provision for (recovery of) credit losses | Ending Balance |  |  |  |  |  |  |  |
Nine months ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 4,474 |  | $ | (573) |  | $ | 87 |  | $ | 532 |  | $ | 4,520 |  |  |  |  |  |  |  |  |
1-4 Family | 1,402 |  | (177) |  | 202 |  | (193) |  | 1,234 |  |  |  |  |  |  |  |  |
Hotels | 2,211 |  | — |  | — |  | 29 |  | 2,240 |  |  |  |  |  |  |  |  |
Multi-family | 1,002 |  | — |  | — |  | (5) |  | 997 |  |  |  |  |  |  |  |  |
Non Residential Non-Owner Occupied | 4,077 |  | (3) |  | 6 |  | (1,043) |  | 3,037 |  |  |  |  |  |  |  |  |
Non Residential Owner Occupied | 2,453 |  | (1,800) |  | 161 |  | 1,316 |  | 2,130 |  |  |  |  |  |  |  |  |
Commercial real estate | 11,145 |  | (1,980) |  | 369 |  | 104 |  | 9,638 |  |  |  |  |  |  |  |  |
Residential real estate | 5,398 |  | (348) |  | 255 |  | 586 |  | 5,891 |  |  |  |  |  |  |  |  |
Home equity | 490 |  | (205) |  | 60 |  | 279 |  | 624 |  |  |  |  |  |  |  |  |
Consumer | 269 |  | (159) |  | 147 |  | 69 |  | 326 |  |  |  |  |  |  |  |  |
DDA overdrafts | 969 |  | (1,165) |  | 1,079 |  | (50) |  | 833 |  |  |  |  |  |  |  |  |
| $ | 22,745 |  | $ | (4,430) |  | $ | 1,997 |  | $ | 1,520 |  | $ | 21,832 |  |  |  |  |  |  |  |  |
| Beginning Balance | Impact of Adopting ASU 2022-02 | PCD Loan Reserves | Charge-offs | Recoveries | Provision for (recovery of) credit losses | Ending Balance |  |  |  |  |  |
Nine months ended September 30, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 3,568 |  | $ | 12 |  | $ | — |  | $ | (69) |  | $ | 766 |  | $ | 371 |  | $ | 4,648 |  |  |  |  |  |  |
1-4 Family | 566 |  | (1) |  | — |  | (335) |  | 42 |  | 390 |  | 662 |  |  |  |  |  |  |
Hotels | 2,332 |  | — |  | — |  | (40) |  | — |  | (72) |  | 2,220 |  |  |  |  |  |  |
Multi-family | 380 |  | — |  | 500 |  | — |  | — |  | 135 |  | 1,015 |  |  |  |  |  |  |
Non Residential Non-Owner Occupied | 2,019 |  | — |  | 1,536 |  | — |  | 162 |  | 1,081 |  | 4,798 |  |  |  |  |  |  |
Non Residential Owner Occupied | 1,315 |  | — |  | 775 |  | — |  | 56 |  | 318 |  | 2,464 |  |  |  |  |  |  |
Commercial real estate | 6,612 |  | (1) |  | 2,811 |  | (375) |  | 260 |  | 1,852 |  | 11,159 |  |  |  |  |  |  |
Residential real estate | 5,427 |  | (138) |  | — |  | (141) |  | 43 |  | 200 |  | 5,391 |  |  |  |  |  |  |
Home equity | 290 |  | (46) |  | — |  | (379) |  | 34 |  | 533 |  | 432 |  |  |  |  |  |  |
Consumer | 110 |  | (2) |  | — |  | (181) |  | 78 |  | 320 |  | 325 |  |  |  |  |  |  |
DDA Overdrafts | 1,101 |  | — |  | — |  | (1,229) |  | 1,034 |  | 267 |  | 1,173 |  |  |  |  |  |  |
| $ | 17,108 |  | $ | (175) |  | $ | 2,811 |  | $ | (2,374) |  | $ | 2,215 |  | $ | 3,543 |  | $ | 23,128 |  |  |  |  |  |  |
| Beginning Balance | Charge-offs | Recoveries | Provision for (recovery of) credit losses | Ending Balance
Three months ended September 30, 2024 |  |  |  |  |
Commercial and industrial | $ | 4,232 |  | $ | (206) |  | $ | 24 |  | $ | 470 |  | $ | 4,520 |
1-4 Family | 1,362 |  | (109) |  | 179 |  | (198) |  | 1,234 |
Hotels | 2,428 |  | — |  | — |  | (188) |  | 2,240 |
Multi-family | 991 |  | — |  | — |  | 6 |  | 997 |
Non Residential Non-Owner Occupied | 3,794 |  | — |  | 3 |  | (760) |  | 3,037 |
Non Residential Owner Occupied | 2,397 |  | (1,800) |  | 11 |  | 1,522 |  | 2,130 |
Commercial real estate | 10,972 |  | (1,909) |  | 193 |  | 382 |  | 9,638 |
Residential real estate | 5,721 |  | (43) |  | 27 |  | 186 |  | 5,891 |
Home equity | 570 |  | (57) |  | 13 |  | 98 |  | 624 |
Consumer | 377 |  | (24) |  | 25 |  | (52) |  | 326 |
DDA overdrafts | 816 |  | (436) |  | 337 |  | 116 |  | 833 |
| $ | 22,688 |  | $ | (2,675) |  | $ | 619 |  | $ | 1,200 |  | $ | 21,832 |
Three months ended September 30, 2023 |  |  |  |  |
Commercial and industrial | $ | 4,330 |  | $ | — |  | $ | 597 |  | $ | (279) |  | $ | 4,648 |
1-4 Family | 598 |  | (255) |  | 12 |  | 307 |  | 662 |
Hotels | 2,133 |  | — |  | — |  | 87 |  | 2,220 |
Multi-family | 1,009 |  | — |  | — |  | 6 |  | 1,015 |
Non Residential Non-Owner Occupied | 4,786 |  | — |  | 6 |  | 6 |  | 4,798 |
Non Residential Owner Occupied | 2,378 |  | — |  | 56 |  | 30 |  | 2,464 |
Commercial real estate | 10,904 |  | (255) |  | 74 |  | 436 |  | 11,159 |
Residential real estate | 5,573 |  | (89) |  | 28 |  | (121) |  | 5,391 |
Home equity | 408 |  | (112) |  | 18 |  | 118 |  | 432 |
Consumer | 334 |  | (10) |  | 27 |  | (26) |  | 325 |
DDA Overdrafts | 1,202 |  | (422) |  | 321 |  | 72 |  | 1,173 |
| $ | 22,751 |  | $ | (888) |  | $ | 1,065 |  | $ | 200 |  | $ | 23,128 |
Management systematically monitors the loan portfolio and the appropriateness of the allowance for credit losses on a quarterly basis to provide for expected losses inherent in the portfolio. Management assesses the risk in each loan type based on historica l trends, the general economic environment of its local markets, individual loan performance and other relevant factors. The Company's estimate of future economic conditions utilized in its provision estimate is primarily dependent on expected unemployment ranges over a two-year period. Beyond two years, a straight line reversion to historical average loss rates is applied over the life of the loan pool in the migration methodology. The vintage methodology applies future average loss rates based on net losses in historical periods where the unemployment rate was within the forecasted range. Individual credits in excess of $1 million are selected at least annually for detailed loan reviews, which are utilized by management to assess the risk in the portfolio and the appropriateness of the allowance. Non-Performing Loans Interest income on loans is accrued and credited to operations based upon the principal amount outstanding, using methods that generally result in level rates of return. Loan origination fees, and certain direct costs, are deferred and amortized as an adjustment to the yield over the term of the loan. The accrual of interest generally is discontinued when a loan becomes 90 days past due as to principal or interest for all loan types. However, any loan may be placed on non-accrual status if the Company receives information that indicates a borrower is unable to meet the contractual terms of its respective loan agreement. Other indicators considered for placing a loan on non-accrual status include the borrower’s involvement in bankruptcies, foreclosures, repossessions, litigation and any other situation resulting in doubt as to whether full collection of contractual principal and interest is attainable. When interest accruals are discontinued, unpaid interest recognized in income in the current year is reversed, and interest accrued in prior years is charged to the allowance for credit losses. Management may elect to continue the accrual of interest when the net realizable value of collateral exceeds the principal balance and related accrued interest, and the loan is in the process of collection. Generally for all loan classes, interest income during the period the loan is non-performing is recorded on a cash basis after recovery of principal is reasonably assured. Cash payments received on nonperforming loans are typically applied directly against the outstanding principal balance until the loan is fully repaid. Generally, loans are restored to accrual status when the obligation is brought current, the borrower has performed in accordance with the contractual terms for a reasonable period of time, and the ultimate collectability of the total contractual principal and interest is no longer in doubt. The following table presents the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of September 30, 2024 (in thousands):
| Non-accrual With No | Non-accrual With | Loans Past Due
| Allowance for | Allowance for | Over 90 Days
| Credit Losses | Credit Losses | Still Accruing
Commercial & Industrial | $ | 614 |  | $ | 3,017 |  | $ | — |
1-4 Family | — |  | 271 |  | — |
Hotels | — |  | — |  | — |
Multi-family | — |  | — |  | — |
Non Residential Non-Owner Occupied | — |  | 380 |  | — |
Non Residential Owner Occupied | 6,105 |  | 2,275 |  | — |
Commercial Real Estate | 6,105 |  | 2,926 |  | — |
Residential Real Estate | — |  | 2,596 |  | 19 |
Home Equity | — |  | 109 |  | 37 |
Consumer | — |  | — |  | 46 |
Total | $ | 6,719 |  | $ | 8,648 |  | $ | 102 |
The following table presents the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2023 (in thousands):
| Non-accrual With No | Non-accrual With | Loans Past Due
| Allowance for | Allowance for | Over 90 Days
| Credit Losses | Credit Losses | Still Accruing
Commercial & Industrial | $ | 1,000 |  | $ | 1,211 |  | $ | — |
1-4 Family | — |  | 521 |  | — |
Hotels | — |  | — |  | — |
Multi-family | — |  | — |  | — |
Non Residential Non-Owner Occupied | — |  | 446 |  | — |
Non Residential Owner Occupied | — |  | 1,420 |  | — |
Commercial Real Estate | — |  | 2,387 |  | — |
Residential Real Estate | — |  | 2,849 |  | 214 |
Home Equity | — |  | 111 |  | 56 |
Consumer | — |  | — |  | — |
Total | $ | 1,000 |  | $ | 6,558 |  | $ | 270 |
The Company recognized no interest income on non-accrual loans during each of the three and nine months ended September 30, 2024 and 2023. As of September 30, 2024, the company had one commercial and industrial loan and three owner occupied commercial real estate loans that were considered individually evaluated collateral-dependent loans totaling $6.72 million. The company had one commercial and industrial individually evaluated collateral dependent loan recorded at $1.0 million as of December 31, 2023. Changes in the fair value of the collateral for collateral-dependent loans are reported as a provision for credit loss or a recovery of credit loss in the period of change. Generally, all loan types are considered past due when the contractual terms of a loan are not met and the borrower is 30 days or more past due on a payment. Furthermore, residential and home equity loans are generally subject to charge-off when the loan becomes 120 days past due, depending on the estimated fair value of the collateral less cost to dispose, versus the outstanding loan balance. Commercial loans are generally charged off when the loan becomes 120 days past due. Open-end consumer loans are generally charged off when the loan becomes 180 days past due. The following tables present the aging of the amortized cost basis in past-due loans as of September 30, 2024 and December 31, 2023 by class of loan (in thousands):
| September 30, 2024
| 30-59 | 60-89 | 90+ | Total | Current | Non- | Total
| Past Due | Past Due | Past Due | Past Due | Loans | accrual | Loans
Commercial and industrial | $ | 57 |  | $ | — |  | $ | — |  | $ | 57 |  | $ | 420,726 |  | $ | 3,631 |  | $ | 424,414 |
1-4 Family | 992 |  | — |  | — |  | 992 |  | 193,407 |  | 271 |  | 194,670 |
Hotels | — |  | — |  | — |  | — |  | 383,232 |  | — |  | 383,232 |
Multi-family | — |  | — |  | — |  | — |  | 193,875 |  | — |  | 193,875 |
Non Residential Non-Owner Occupied | — |  | — |  | — |  | — |  | 664,830 |  | 380 |  | 665,210 |
Non Residential Owner Occupied | — |  | — |  | — |  | — |  | 228,446 |  | 8,380 |  | 236,826 |
Commercial real estate | 992 |  | — |  | — |  | 992 |  | 1,663,790 |  | 9,031 |  | 1,673,813 |
Residential real estate | 7,540 |  | 646 |  | 19 |  | 8,205 |  | 1,795,777 |  | 2,596 |  | 1,806,578 |
Home Equity | 1,436 |  | 98 |  | 37 |  | 1,571 |  | 188,469 |  | 109 |  | 190,149 |
Consumer | 96 |  | 19 |  | 46 |  | 161 |  | 58,549 |  | — |  | 58,710 |
Overdrafts | 327 |  | 6 |  | — |  | 333 |  | 3,833 |  | — |  | 4,166 |
Total | $ | 10,448 |  | $ | 769 |  | $ | 102 |  | $ | 11,319 |  | $ | 4,131,144 |  | $ | 15,367 |  | $ | 4,157,830 |
| December 31, 2023
| 30-59 | 60-89 | 90+ | Total | Current | Non- | Total
| Past Due | Past Due | Past Due | Past Due | Loans | accrual | Loans
Commercial and industrial | $ | 185 |  | $ | 250 |  | $ | — |  | $ | 435 |  | $ | 424,305 |  | $ | 2,211 |  | $ | 426,951 |
1-4 Family | 67 |  | 25 |  | — |  | 92 |  | 205,624 |  | 521 |  | 206,237 |
Hotels | — |  | — |  | — |  | — |  | 357,142 |  | — |  | 357,142 |
Multi-family | — |  | — |  | — |  | — |  | 189,165 |  | — |  | 189,165 |
Non Residential Non-Owner Occupied | — |  | — |  | — |  | — |  | 680,144 |  | 446 |  | 680,590 |
Non Residential Owner Occupied | 623 |  | — |  | — |  | 623 |  | 238,285 |  | 1,420 |  | 240,328 |
Commercial real estate | 690 |  | 25 |  | — |  | 715 |  | 1,670,360 |  | 2,387 |  | 1,673,462 |
Residential real estate | 7,034 |  | 811 |  | 214 |  | 8,059 |  | 1,777,241 |  | 2,849 |  | 1,788,149 |
Home Equity | 1,020 |  | 159 |  | 56 |  | 1,235 |  | 165,855 |  | 111 |  | 167,201 |
Consumer | 129 |  | — |  | — |  | 129 |  | 65,117 |  | — |  | 65,246 |
Overdrafts | 355 |  | 9 |  | — |  | 364 |  | 4,550 |  | — |  | 4,914 |
Total | $ | 9,413 |  | $ | 1,254 |  | $ | 270 |  | $ | 10,937 |  | $ | 4,107,428 |  | $ | 7,558 |  | $ | 4,125,923 |
Loan Restructurings The Company evaluates all loan restructurings in accordance with ASU No. 2022-02 for loan modifications to determine if the restructuring results in a new loan or a continuation of the existing loan. Loan modifications to borrowers experiencing financial difficulty that result in a direct change in the timing or amount of contractual cash flows include situations where there is principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions, and combinations of the listed modifications. Therefore, the disclosures related to loan restructurings are only for modifications that directly affect cash flows. During the three and nine months ended September 30, 2024, the company had one loan considered to be a restructured loan with a total balance of $0.2 million. The Company had no loan modifications that were considered restructured loans during the three and nine months ended September 30, 2023. A loan that is considered a restructured loan may be subject to the individually evaluated loan analysis, otherwise, the restructured loan will remain in the appropriate segment in the Allowance for Credit Losses model and associated reserves will be adjusted based on changes in the discounted cash flows resulting from the modification of the restructured loan. Credit Quality Indicators All commercial loans within the portfolio are subject to internal risk rating. All non-commercial loans are evaluated based on payment history. The Company’s internal risk ratings for commercial loans are: Exceptional, Good, Acceptable, Pass/Watch, Special Mention, Substandard and Doubtful. Each internal risk rating is defined in the loan policy using the following criteria: balance sheet yields; ratios and leverage; cash flow spread and coverage; prior history; capability of management; market position/industry; potential impact of changing economic, legal, regulatory or environmental conditions; purpose; structure; collateral support; and guarantor support. Risk grades are generally assigned by the primary lending officer and are periodically evaluated by the Company’s internal loan review process. Based on an individual loan’s risk grade, estimated loss percentages are applied to the outstanding balance of the loan to determine the amount of expected loss. The Company categorizes loans into risk categories based on relevant information regarding the customer’s debt service ability, capacity and overall collateral position, along with other economic trends and historical payment performance. The risk rating for each credit is updated when the Company receives current financial information, the loan is reviewed by the Company’s internal loan review and credit administration departments, or the loan becomes delinquent or impaired. The risk grades are updated a minimum of annually for loans rated Exceptional, Good, Acceptable, or Pass/Watch. Loans rated Special Mention, Substandard or Doubtful are reviewed at least quarterly. The Company uses the following definitions for its risk ratings:
Risk Rating | Description
Pass Ratings: |
(a) Exceptional | Loans classified as exceptional are secured with liquid collateral conforming to the internal loan policy. Loans rated within this category pose minimal risk of loss to the bank.
(b) Good | Loans classified as good have similar characteristics that include a strong balance sheet, satisfactory debt service coverage ratios, strong management and/or guarantors, and little exposure to economic cycles. Loans in this category generally have a low chance of loss to the bank.
(c) Acceptable | Loans classified as acceptable have acceptable liquidity levels, adequate debt service coverage ratios, experienced management, and have average exposure to economic cycles. Loans within this category generally have a low risk of loss to the bank.
(d) Pass/watch | Loans classified as pass/watch have erratic levels of leverage and/or liquidity, cash flow is volatile and the borrower is subject to moderate economic risk. A borrower in this category poses a low to moderate risk of loss to the bank.
Special mention | Loans classified as special mention have a potential weakness(es) that deserves management’s close attention. The potential weakness could result in deterioration of the loan repayment or the bank’s credit position at some future date. A loan rated in this category poses a moderate loss risk to the bank.
Substandard | Loans classified as substandard reflect a customer with a well-defined weakness that jeopardizes the liquidation of the debt. Loans in this category have the possibility that the bank will sustain some loss if the deficiencies are not corrected and the bank’s collateral value is weakened by the financial deterioration of the borrower.
Doubtful | Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristics that make collection of the full contract amount highly improbable. Loans rated in this category are most likely to cause the bank to have a loss due to a collateral shortfall or a negative capital position.
Based on the most recent analysis performed, the risk category of loans by class of loans at September 30, 2024 and December 31, 2023 is as follows (in thousands), with the loans acquired from Citizens categorized by their origination date:
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial and industrial |  |  |  |  |  |  |  |
Pass | $ | 56,281 |  | $ | 66,407 |  | $ | 28,116 |  | $ | 65,707 |  | $ | 38,036 |  | $ | 24,463 |  | $ | 110,509 |  | $ | 389,519 |
Special mention | 60 |  | — |  | — |  | — |  | — |  | — |  | — |  | 60 |
Substandard | 967 |  | 492 |  | 2,382 |  | 600 |  | 2,620 |  | 2,089 |  | 25,685 |  | 34,835 |
Total | $ | 57,308 |  | $ | 66,899 |  | $ | 30,498 |  | $ | 66,307 |  | $ | 40,656 |  | $ | 26,552 |  | $ | 136,194 |  | $ | 424,414 |
YTD Gross Charge-offs | $ | — |  | $ | 6 |  | $ | — |  | $ | 69 |  | $ | — |  | $ | 248 |  | $ | 250 |  | $ | 573 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial and industrial |  |  |  |  |  |  |  |
Pass | $ | 70,494 |  | $ | 47,473 |  | $ | 76,605 |  | $ | 47,688 |  | $ | 21,820 |  | $ | 18,328 |  | $ | 111,546 |  | $ | 393,954 |
Special mention | — |  | 33 |  | — |  | 2,600 |  | 22 |  | — |  | 70 |  | 2,725 |
Substandard | 379 |  | 2,748 |  | 854 |  | 775 |  | 923 |  | 1,538 |  | 23,055 |  | 30,272 |
Total | $ | 70,873 |  | $ | 50,254 |  | $ | 77,459 |  | $ | 51,063 |  | $ | 22,765 |  | $ | 19,866 |  | $ | 134,671 |  | $ | 426,951 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
1-4 Family |  |  |  |  |  |  |  |
Pass | $ | 27,206 |  | $ | 31,363 |  | $ | 41,961 |  | $ | 29,178 |  | $ | 18,817 |  | $ | 33,885 |  | $ | 8,664 |  | $ | 191,074 |
Special mention | — |  | 442 |  | 183 |  | — |  | 900 |  | 629 |  | 250 |  | 2,404 |
Substandard | — |  | — |  | 100 |  | — |  | 240 |  | 852 |  | — |  | 1,192 |
Total | $ | 27,206 |  | $ | 31,805 |  | $ | 42,244 |  | $ | 29,178 |  | $ | 19,957 |  | $ | 35,366 |  | $ | 8,914 |  | $ | 194,670 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 177 |  | $ | — |  | $ | 177 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
1-4 Family |  |  |  |  |  |  |  |
Pass | $ | 38,143 |  | $ | 53,907 |  | $ | 32,058 |  | $ | 21,363 |  | $ | 12,073 |  | $ | 29,846 |  | $ | 13,967 |  | $ | 201,357 |
Special mention | 565 |  | 451 |  | — |  | 1,167 |  | — |  | 730 |  | 250 |  | 3,163 |
Substandard | — |  | 77 |  | — |  | 250 |  | 131 |  | 1,259 |  | — |  | 1,717 |
Total | $ | 38,708 |  | $ | 54,435 |  | $ | 32,058 |  | $ | 22,780 |  | $ | 12,204 |  | $ | 31,835 |  | $ | 14,217 |  | $ | 206,237 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Hotels |  |  |  |  |  |  |  |
Pass | $ | 37,281 |  | $ | 47,588 |  | $ | 79,172 |  | $ | 31,767 |  | $ | 6,896 |  | $ | 154,958 |  | $ | 293 |  | $ | 357,955 |
Special mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | 25,277 |  | — |  | 25,277 |
Total | $ | 37,281 |  | $ | 47,588 |  | $ | 79,172 |  | $ | 31,767 |  | $ | 6,896 |  | $ | 180,235 |  | $ | 293 |  | $ | 383,232 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Hotels |  |  |  |  |  |  |  |
Pass | $ | 47,739 |  | $ | 82,200 |  | $ | 33,560 |  | $ | 3,327 |  | $ | 58,384 |  | $ | 101,740 |  | $ | 305 |  | $ | 327,255 |
Special mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | 4,020 |  | 23,604 |  | 2,263 |  | — |  | 29,887 |
Total | $ | 47,739 |  | $ | 82,200 |  | $ | 33,560 |  | $ | 7,347 |  | $ | 81,988 |  | $ | 104,003 |  | $ | 305 |  | $ | 357,142 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Multi-family |  |  |  |  |  |  |  |
Pass | $ | 14,909 |  | $ | 6,888 |  | $ | 27,946 |  | $ | 20,741 |  | $ | 57,060 |  | $ | 65,118 |  | $ | 1,213 |  | $ | 193,875 |
Special mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 14,909 |  | $ | 6,888 |  | $ | 27,946 |  | $ | 20,741 |  | $ | 57,060 |  | $ | 65,118 |  | $ | 1,213 |  | $ | 193,875 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Multi-family |  |  |  |  |  |  |  |
Pass | $ | 6,925 |  | $ | 21,320 |  | $ | 28,268 |  | $ | 63,750 |  | $ | 38,007 |  | $ | 29,814 |  | $ | 1,081 |  | $ | 189,165 |
Special mention | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Substandard | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 6,925 |  | $ | 21,320 |  | $ | 28,268 |  | $ | 63,750 |  | $ | 38,007 |  | $ | 29,814 |  | $ | 1,081 |  | $ | 189,165 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Non Residential Non-Owner Occupied |  |  |  |  |  |  |
Pass | $ | 23,257 |  | $ | 111,608 |  | $ | 117,333 |  | $ | 94,144 |  | $ | 55,148 |  | $ | 219,487 |  | $ | 15,993 |  | $ | 636,970 |
Special mention | — |  | — |  | — |  | 94 |  | 492 |  | 24,359 |  | — |  | 24,945 |
Substandard | 75 |  | 23 |  | — |  | 141 |  | — |  | 3,056 |  | — |  | 3,295 |
Total | $ | 23,332 |  | $ | 111,631 |  | $ | 117,333 |  | $ | 94,379 |  | $ | 55,640 |  | $ | 246,902 |  | $ | 15,993 |  | $ | 665,210 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 3 |  | $ | — |  | $ | 3 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Non Residential Non-Owner Occupied |  |  |  |  |  |  |
Pass | $ | 117,515 |  | $ | 119,382 |  | $ | 99,210 |  | $ | 59,083 |  | $ | 64,332 |  | $ | 156,941 |  | $ | 32,111 |  | $ | 648,574 |
Special mention | — |  | — |  | 102 |  | 731 |  | 165 |  | 24,747 |  | — |  | 25,745 |
Substandard | — |  | — |  | 145 |  | 2,395 |  | 79 |  | 3,652 |  | — |  | 6,271 |
Total | $ | 117,515 |  | $ | 119,382 |  | $ | 99,457 |  | $ | 62,209 |  | $ | 64,576 |  | $ | 185,340 |  | $ | 32,111 |  | $ | 680,590 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Non Residential Owner Occupied |  |  |  |  |  |  |
Pass | $ | 14,220 |  | $ | 46,192 |  | $ | 29,270 |  | $ | 39,095 |  | $ | 15,433 |  | $ | 67,994 |  | $ | 3,299 |  | $ | 215,503 |
Special mention | — |  | — |  | — |  | — |  | — |  | 2,798 |  | — |  | 2,798 |
Substandard | — |  | 3,789 |  | 858 |  | 1,948 |  | 1,168 |  | 10,398 |  | 364 |  | 18,525 |
Total | $ | 14,220 |  | $ | 49,981 |  | $ | 30,128 |  | $ | 41,043 |  | $ | 16,601 |  | $ | 81,190 |  | $ | 3,663 |  | $ | 236,826 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,800 |  | $ | — |  | $ | 1,800 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Non Residential Owner Occupied |  |  |  |  |  |  |
Pass | $ | 41,481 |  | $ | 34,320 |  | $ | 42,203 |  | $ | 16,990 |  | $ | 21,772 |  | $ | 52,363 |  | $ | 6,060 |  | $ | 215,189 |
Special mention | — |  | — |  | 164 |  | — |  | 2,880 |  | 431 |  | 188 |  | 3,663 |
Substandard | 3,957 |  | 909 |  | 2,010 |  | 1,212 |  | 1,335 |  | 11,792 |  | 261 |  | 21,476 |
Total | $ | 45,438 |  | $ | 35,229 |  | $ | 44,377 |  | $ | 18,202 |  | $ | 25,987 |  | $ | 64,586 |  | $ | 6,509 |  | $ | 240,328 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Total |  |  |  |  |  |  |  |
Pass | $ | 116,872 |  | $ | 243,639 |  | $ | 295,683 |  | $ | 214,926 |  | $ | 153,355 |  | $ | 541,441 |  | $ | 29,461 |  | $ | 1,595,377 |
Special mention | — |  | 442 |  | 183 |  | 94 |  | 1,393 |  | 27,786 |  | 250 |  | 30,148 |
Substandard | 75 |  | 3,811 |  | 958 |  | 2,089 |  | 1,408 |  | 39,583 |  | 364 |  | 48,288 |
Total | $ | 116,947 |  | $ | 247,892 |  | $ | 296,824 |  | $ | 217,109 |  | $ | 156,156 |  | $ | 608,810 |  | $ | 30,075 |  | $ | 1,673,813 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 1,980 |  | $ | — |  | $ | 1,980 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Commercial real estate - |  |  |  |  |  |  |  |
Total |  |  |  |  |  |  |  |
Pass | $ | 251,802 |  | $ | 311,129 |  | $ | 235,298 |  | $ | 164,514 |  | $ | 194,569 |  | $ | 370,704 |  | $ | 53,522 |  | $ | 1,581,538 |
Special mention | 565 |  | 451 |  | 266 |  | 1,898 |  | 3,045 |  | 25,909 |  | 438 |  | 32,572 |
Substandard | 3,957 |  | 986 |  | 2,155 |  | 7,877 |  | 25,148 |  | 18,968 |  | 261 |  | 59,352 |
Total | $ | 256,324 |  | $ | 312,566 |  | $ | 237,719 |  | $ | 174,289 |  | $ | 222,762 |  | $ | 415,581 |  | $ | 54,221 |  | $ | 1,673,462 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Residential real estate |  |  |  |  |  |  |  |
Performing | $ | 163,811 |  | $ | 215,041 |  | $ | 364,725 |  | $ | 291,741 |  | $ | 228,626 |  | $ | 469,765 |  | $ | 70,273 |  | $ | 1,803,982 |
Non-performing | — |  | — |  | 156 |  | 194 |  | 56 |  | 1,980 |  | 210 |  | 2,596 |
Total | $ | 163,811 |  | $ | 215,041 |  | $ | 364,881 |  | $ | 291,935 |  | $ | 228,682 |  | $ | 471,745 |  | $ | 70,483 |  | $ | 1,806,578 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | 74 |  | $ | — |  | $ | — |  | $ | 164 |  | $ | 110 |  | $ | 348 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Residential real estate |  |  |  |  |  |  |  |
Performing | $ | 234,802 |  | $ | 392,865 |  | $ | 314,617 |  | $ | 250,030 |  | $ | 109,736 |  | $ | 410,925 |  | $ | 72,324 |  | $ | 1,785,299 |
Non-performing | $ | 161 |  | $ | 119 |  | $ | 183 |  | $ | 26 |  | $ | 713 |  | $ | 1,349 |  | $ | 299 |  | $ | 2,850 |
Total | $ | 234,963 |  | $ | 392,984 |  | $ | 314,800 |  | $ | 250,056 |  | $ | 110,449 |  | $ | 412,274 |  | $ | 72,623 |  | $ | 1,788,149 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Home equity |  |  |  |  |  |  |  |
Performing | $ | 25,137 |  | $ | 26,137 |  | $ | 11,733 |  | $ | 5,421 |  | $ | 2,952 |  | $ | 6,488 |  | $ | 112,172 |  | $ | 190,040 |
Non-performing | — |  | — |  | — |  | — |  | 14 |  | — |  | 95 |  | 109 |
Total | $ | 25,137 |  | $ | 26,137 |  | $ | 11,733 |  | $ | 5,421 |  | $ | 2,966 |  | $ | 6,488 |  | $ | 112,267 |  | $ | 190,149 |
YTD Gross Charge-offs | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | 13 |  | $ | 162 |  | $ | 30 |  | $ | 205 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Home equity |  |  |  |  |  |  |  |
Performing | $ | 29,611 |  | $ | 13,921 |  | $ | 6,218 |  | $ | 3,826 |  | $ | 2,510 |  | $ | 5,108 |  | $ | 105,896 |  | $ | 167,090 |
Non-performing | — |  | — |  | — |  | 14 |  | — |  | — |  | 97 |  | 111 |
Total | $ | 29,611 |  | $ | 13,921 |  | $ | 6,218 |  | $ | 3,840 |  | $ | 2,510 |  | $ | 5,108 |  | $ | 105,993 |  | $ | 167,201 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
September 30, 2024 | 2024 | 2023 | 2022 | 2021 | 2020 | Prior | Cost Basis | Total
Consumer |  |  |  |  |  |  |  |
Performing | $ | 13,685 |  | $ | 23,658 |  | $ | 12,993 |  | $ | 2,765 |  | $ | 1,798 |  | $ | 1,830 |  | $ | 1,981 |  | $ | 58,710 |
Non-performing | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 13,685 |  | $ | 23,658 |  | $ | 12,993 |  | $ | 2,765 |  | $ | 1,798 |  | $ | 1,830 |  | $ | 1,981 |  | $ | 58,710 |
YTD Gross Charge-offs | $ | 4 |  | $ | 30 |  | $ | 32 |  | $ | 4 |  | $ | 10 |  | $ | 78 |  | $ | 1 |  | $ | 159 |
|  |  |  |  |  |  | Revolving |
| Term Loans | Loans |
| Amortized Cost Basis by Origination Year and Risk Level | Amortized |
December 31, 2023 | 2023 | 2022 | 2021 | 2020 | 2019 | Prior | Cost Basis | Total
Consumer |  |  |  |  |  |  |  |
Performing | $ | 33,700 |  | $ | 18,293 |  | $ | 4,531 |  | $ | 3,148 |  | $ | 2,120 |  | $ | 1,645 |  | $ | 1,809 |  | $ | 65,246 |
Non-performing | — |  | — |  | — |  | — |  | — |  | — |  | — |  | — |
Total | $ | 33,700 |  | $ | 18,293 |  | $ | 4,531 |  | $ | 3,148 |  | $ | 2,120 |  | $ | 1,645 |  | $ | 1,809 |  | $ | 65,246 |

X
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