XML 62 R36.htm IDEA: XBRL DOCUMENT v3.24.0.1

Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Schedule of originated and acquired credit losses by portfolio segment

Changes in the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021 are summarized as follows:

Allowance for Credit Losses - Loans and Leases

(In thousands)			2023			2022			2021
Total allowance at beginning of year			$	45,934		$	42,843		$	51,669
Impact of adopting ASU 2022-02			64			0			0
Provision (credit) for credit loss expense			4,865			2,499			(2,805)
Recoveries on loans and leases			1,820			1,798			1,725
Charge-offs on loans and leases			(1,099)			(1,206)			(7,746)
Total allowance at end of year			$	51,584		$	45,934		$	42,843

Allowance for Credit Losses - Off-Balance Sheet Credit Exposures

(In thousands)			2023			2022			2021
Liabilities for off-balance sheet credit exposures at beginning of period			$	2,796		$	2,506		$	1,920
(Credit) provision for credit loss expense related to off-balance sheet credit exposures			(526)			290			586
Liabilities for off-balance sheet credit exposures at end of period			$	2,270		$	2,796		$	2,506

The following tables detail activity in the allowance for credit losses for loans for the years ended December 31, 2023 and 2022. The allocation of a portion of the allowance to one category of loans does not preclude its availability to absorb losses in other categories.

December 31, 2023
(In thousands)			Commercial & Industrial			Commercial Real Estate			Residential Real Estate			Consumer and Other			Finance Leases			Total
Allowance for credit losses:
Beginning balance			$	6,039		$	27,287		$	11,154		$	1,358		$	96		$	45,934
Impact of adopting ASU 2016-13			2			16			46			0			0			64
Charge-offs			(34)			0			(20)			(1,045)			0			(1,099)
Recoveries			87			1,292			186			255			0			1,820
Provision (credit) for credit loss expense			573			2,986			334			989			(17)			4,865
Ending Balance			$	6,667		$	31,581		$	11,700		$	1,557		$	79		$	51,584

December 31, 2022
(In thousands)			Commercial & Industrial			Commercial Real Estate			Residential Real Estate			Consumer and Other			Finance Leases			Total
Allowance for credit losses:
Beginning balance			$	6,335		$	24,813		$	10,139		$	1,492		$	64		$	42,843
Charge-offs			(559)			(50)			(53)			(544)			0			(1,206)
Recoveries			195			951			346			306			0			1,798
Provision for credit loss expense			68			1,573			722			104			32			2,499
Ending Balance			$	6,039		$	27,287		$	11,154		$	1,358		$	96		$	45,934

The following tables presents the amortized cost basis of collateral dependent loans, which are individually evaluated to determine expected credit losses, and the related allowance for credit losses allocated to these loans as of December 31, 2023 and 2022:

December 31, 2023
(In thousands)			Real Estate			Business Assets			Other			Total			ACL Allocation
Commercial and Industrial			$	2,035		$	0		$	0		$	2,035		$	0
Commercial Real Estate			42,333			0			0			42,333			1,082
Total Loans and Leases			$	44,368		$	0		$	0		$	44,368		$	1,082

December 31, 2022
(In thousands)			Real Estate			Business Assets			Other			Total			ACL Allocation
Commercial and Industrial			$	642		$	28		$	0		$	670		$	0
Commercial Real Estate			13,209			0			78			13,287			0
Commercial Real Estate - Agriculture			1,515			0			0			1,515			0
Residential Real Estate			188			0			0			188			3
Total Loans and Leases			$	15,554		$	28		$	78		$	15,660		$	3

Schedule of troubled debt restructurings

The following tables present loans by class modified in 2022 as troubled debt restructurings. Post-modification balances reflect paydowns and charge-offs at time of modification.

December 31, 2022			Year Ended
												Defaulted TDRs2
(In thousands)			Number of Loans			Pre- Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment			Number of Loans			Post- Modification Outstanding Recorded Investment
Residential real estate
Mortgages1			7			$	714		$	714		1			$	87
Total			7			$	714		$	714		1			$	87

1Represents the following concessions: extension of term and reduction of rate.

2TDRs that defaulted during the 12 months ended December 31, 2022, that had been restructured in the prior twelve months.

Schedule of credit quality indicators on loans by class of commercial and industrial loans and commercial real estate loans

The following table presents credit quality indicators by total loans on an amortized cost basis by origination year, and current year gross writeoffs as of December 31, 2023:

December 31, 2023
(In thousands)			2023			2022			2021			2020			2019			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total Loans
Commercial and Industrial - Other:
Internal risk grade:
Pass			$	130,993		$	92,335		$	68,030		$	28,237		$	33,618		$	141,758		$	212,349		$	5,063		$	712,383
Special Mention			915			196			222			242			79			1,287			682			0			3,623
Substandard			0			46			78			329			18			2,833			2,580			0			5,884
Total Commercial and Industrial - Other			$	131,908		$	92,577		$	68,330		$	28,808		$	33,715		$	145,878		$	215,611		$	5,063		$	721,890
Current-period gross writeoffs			$	6		$	0		$	0		$	0		$	0		$	29		$	0		$	0		$	35
Commercial and Industrial - PPP:
Pass			$	0		$	0		$	264		$	140		$	0		$	0		$	0		$	0		$	404
Special Mention			0			0			0			0			0			0			0			0			0
Substandard			0			0			0			0			0			0			0			0			0
Total Commercial and Industrial - PPP			$	0		$	0		$	264		$	140		$	0		$	0		$	0		$	0		$	404
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0
Commercial and Industrial - Agriculture:
Pass			$	24,924		$	11,935		$	3,341		$	3,114		$	3,268		$	16,759		$	36,728		$	1,030		$	101,099
Special Mention			0			0			47			0			0			0			0			0			47
Substandard			0			0			0			56			0			8			1			0			65
Total Commercial and Industrial - Agriculture			$	24,924		$	11,935		$	3,388		$	3,170		$	3,268		$	16,767		$	36,729		$	1,030		$	101,211
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0
Commercial Real Estate
Pass			$	246,016		$	317,583		$	365,975		$	292,960		$	272,722		$	921,201		$	34,346		$	24,949		$	2,475,752
Special Mention			0			632			0			17,133			11,422			16,100			0			0			45,287
Substandard			0			15,300			2,128			0			2,059			45,709			1,356			0			66,552
Total Commercial Real Estate			$	246,016		$	333,515		$	368,103		310,093			286,203			983,010			$	35,702		$	24,949		$	2,587,591
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0
Commercial Real Estate - Agriculture:
Pass			$	14,668		$	37,256		$	22,813		$	21,001		$	23,794		$	93,890		$	257		$	6,364		$	220,043
Special Mention			0			0			0			0			378			1,033			0			0			1,411
Substandard			0			0			0			0			170			46			0			0			216
Total Commercial Real Estate - Agriculture			$	14,668		$	37,256		$	22,813		$	21,001		$	24,342		$	94,969		$	257		$	6,364		$	221,670
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0

(In thousands)			2023			2022			2021			2020			2019			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total Loans
Commercial Real Estate - Construction
Pass			$	9,265		$	2,793		$	8,068		$	2,501		$	357		$	596		$	274,224		$	5,602		$	303,406
Special Mention			0			0			0			0			0			0			0			0			0
Substandard			0			0			0			0			0			0			0			0			0
Total Commercial Real Estate - Construction			$	9,265		$	2,793		$	8,068		$	2,501		$	357		$	596		$	274,224		$	5,602		$	303,406
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0
Residential - Home Equity
Performing			$	2,378		$	2,237		$	890		$	529		$	832		$	8,178		$	164,205		$	5,837		$	185,086
Nonperforming			0			0			0			0			0			337			2,893			0			3,230
Total Residential - Home Equity			$	2,378		$	2,237		$	890		$	529		$	832		$	8,515		$	167,098		$	5,837		$	188,316
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	20		$	0		$	0		$	20
Residential - Mortgages
Performing			$	131,004		$	186,401		$	256,127		$	221,945		$	109,594		$	456,167		$	0		$	0		$	1,361,238
Nonperforming			0			393			329			986			883			9,446			0			0			12,037
Total Residential - Mortgages			$	131,004		$	186,794		$	256,456		$	222,931		$	110,477		$	465,613		$	0		$	0		$	1,373,275
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0		$	0
Consumer - Direct
Performing			$	50,295		$	13,327		$	11,316		$	5,157		$	4,037		$	9,857		$	2,723		$	0		$	96,712
Nonperforming			2			0			0			0			70			157			1			0			230
Total Consumer - Direct			$	50,297		$	13,327		$	11,316		$	5,157		$	4,107		$	10,014		$	2,724		$	0		$	96,942
Current-period gross writeoffs			$	801		$	29		$	16		$	21		$	83		$	28		$	0		$	0		$	978
Consumer - Indirect
Performing			$	0		$	0		$	97		$	68		$	402		$	234		$	0		$	0		$	801
Nonperforming			0			0			0			0			30			10			0			0			40
Total Consumer - Indirect			$	0		$	0		$	97		$	68		$	432		$	244		$	0		$	0		$	841
Current-period gross writeoffs			$	0		$	0		$	0		$	0		$	53		$	14		$	0		$	0		$	67

The following tables present credit quality indicators (internal risk grade) by class of commercial and industrial loans and commercial real estate loans as of December 31, 2022:

(In thousands)			2022			2021			2020			2019			2018			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total Loans
Commercial and Industrial - Other:
Pass			$	124,190		$	79,861		$	38,158		$	41,391		$	33,238		$	156,038		$	215,890		$	6,466		$	695,232
Special Mention			0			127			421			285			271			1,380			501			0			2,985
Substandard			0			111			442			35			733			503			5,659			0			7,483
Total Commercial and Industrial - Other			$	124,190		$	80,099		$	39,021		$	41,711		$	34,242		$	157,921		$	222,050		$	6,466		$	705,700
Commercial and Industrial - Agriculture:
Pass			$	16,694		$	4,120		$	4,944		$	4,186		$	7,734		$	4,883		$	42,097		$	215		$	84,873
Special Mention			0			58			0			0			0			0			50			0			108
Substandard			0			0			71			0			0			16			5			0			92
Total Commercial and Industrial - Agriculture			$	16,694		$	4,178		$	5,015		$	4,186		$	7,734		$	4,899		$	42,152		$	215		$	85,073
Commercial and Industrial - PPP:
Pass			$	0		$	416		$	340		$	0		$	0		$	0		$	0		$	0		$	756
Special Mention			0			0			0			0			0			0			0			0			0
Substandard			0			0			0			0			0			0			0			0			0
Total Commercial and Industrial - PPP			$	0		$	416		$	340		$	0		$	0		$	0		$	0		$	0		$	756
Commercial Real Estate
Pass			$	342,311		$	367,104		$	311,607		$	279,587		$	203,016		$	812,563		$	10,906		$	24,503		$	2,351,597
Special Mention			643			3,406			1,688			11,462			2,555			25,361			0			0			45,115
Substandard			78			110			0			3,394			1,692			35,221			132			0			40,627
Total Commercial Real Estate			$	343,032		$	370,620		$	313,295		$	294,443		$	207,263		$	873,145		$	11,038		$	24,503		$	2,437,339
Commercial Real Estate - Agriculture:
Pass			$	33,241		$	24,125		$	22,831		$	25,576		$	37,835		$	65,112		$	3,131		$	1,235		$	213,086
Special Mention			0			0			0			401			0			1,142			0			0			1,543
Substandard			0			0			0			186			38			110			0			0			334
Total Commercial Real Estate - Agriculture			$	33,241		$	24,125		$	22,831		$	26,163		$	37,873		$	66,364		$	3,131		$	1,235		$	214,963
Commercial Real Estate - Construction
Pass			$	23,105		$	75,245		$	27,584		$	14,842		$	9,083		$	7,268		$	42,701		$	1,288		$	201,116
Special Mention			0			0			0			0			0			0			0			0			0
Substandard			0			0			0			0			0			0			0			0			0
Total Commercial Real Estate - Construction			$	23,105		$	75,245		$	27,584		$	14,842		$	9,083		$	7,268		$	42,701		$	1,288		$	201,116

The following table presents credit quality indicators by total loans on an amortized cost basis by origination year as of December 31, 2022, continued:

(In thousands)			2022			2021			2020			2019			2018			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total Loans
Residential - Home Equity
Performing			$	3,030		$	1,062		$	637		$	992		$	792		$	3,183		$	175,451		$	1,085		$	186,232
Nonperforming			0			0			0			14			0			25			2,352			0			2,391
Total Residential - Home Equity			$	3,030		$	1,062		$	637		$	1,006		$	792		$	3,208		$	177,803		$	1,085		$	188,623
Residential - Mortgages
Performing			$	187,129		$	272,235		$	239,584		$	117,391		$	66,605		$	452,221		$	0		$	0		$	1,335,165
Nonperforming			218			335			628			682			1,552			7,738			0			0			11,153
Total Residential - Mortgages			$	187,347		$	272,570		$	240,212		$	118,073		$	68,157		$	459,959		$	0		$	0		$	1,346,318
Consumer - Direct
Performing			$	31,243		$	13,999		$	7,372		$	6,138		$	4,386		$	8,029		$	4,070		$	0		$	75,237
Nonperforming			0			0			3			93			76			0			3			$	0		175
Total Consumer - Direct			$	31,243		$	13,999		$	7,375		$	6,231		$	4,462		$	8,029		$	4,073		$	0		$	75,412
Consumer - Indirect
Performing			$	0		$	156		$	146		$	1,092		$	635		$	101		$	0		$	0		$	2,130
Nonperforming			0			0			0			76			10			8			0			0			94
Total Consumer - Indirect			$	0		$	156		$	146		$	1,168		$	645		$	109		$	0		$	0		$	2,224

Schedule of loan modifications with financial difficulty

The following table shows the amortized cost basis at the year ended December 31, 2023 of the loans modified to borrowers experiencing financial difficulty, disaggregated by class of financing receivable and type of concession granted:

(In thousands)			Term Extension			Interest Rate Reduction			Payment Delay and Term Extension			Term Extension and Interest Rate Reduction			Payment Delay			Total			% of Total Class of Loans and Leases
Commercial Real Estate
Commercial Real Estate Other			$	0		$	3,114		$	0		$	0		$	0		$	3,114		0.12		%
Total Commercial Real Estate			0			3,114			0			0			0			3,114			0.10		%
Residential
Mortgages			0			0			0			0			402			402			0.03		%
Total Residential			0			0			0			0			402			402			0.03		%
Consumer
Consumer and Other			21			0			0			0			0			21			0.02		%
Total Consumer			21			0			0			0			0			21			0.02		%
Total Loans and Leases			$	21		$	3,114		$	0		$	0		$	402		$	3,537		0.06		%

The following table shows the aging analysis of loan modifications made to borrowers experiencing financial difficulty as of December 31, 2023:

December 31, 2023			Payment Status (Amorized Cost Basis)
(In thousands)			Current			30-59 Days Past Due			60-89 Days Past Due			90+ Days Past Due			Non-Accrual			Total
Commercial Real Estate
Commercial real estate other			$	3,114		$	0		$	0		$	0		$	0		$	3,114
Total Commercial Real Estate			3,114			0			0			0			0			3,114
Residential Real Estate
Mortgages			158			0			0			0			244			402
Total Residential Real Estate			158			0			0			0			244			402
Consumer and Other
Consumer and other			0			0			0			0			21			21
Total Consumer and Other			0			0			0			0			21			21
Total			$	3,272		$	0		$	0		$	0		$	265		$	3,537

X

- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-13

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-11B

+ Details

Name:	us-gaap_AllowanceForCreditLossesOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479319/326-20-50-5

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-29

+ Details

Name:	us-gaap_FinancingReceivableCreditQualityIndicatorsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_ReceivablesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of troubled debt restructurings in the current period: (1) for each restructuring, the principal changes in terms, the major features of settlement, or both; (2) the aggregate gain (loss) on restructuring of payables; (3) the income tax effect on the gain or loss recognized on the restructuring of payables; (4) the gain (loss) recognized on the restructuring of payables, after the impact of income tax expense or benefit; and (5) the aggregate gain (loss) on transfer of assets recognized during the period, after the impact of income tax expense or benefit.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 470
-SubTopic 60
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481408/470-60-50-1

+ Details

Name:	us-gaap_ScheduleOfDebtorTroubledDebtRestructuringCurrentPeriodTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of financing receivable modified for debtor experiencing financial difficulty.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12A
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481933/310-10-55-12A

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-42

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-42

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 33
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-33

Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 310
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 34
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481962/310-10-50-34

+ Details

Name:	us-gaap_TroubledDebtRestructuringsOnFinancingReceivablesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration