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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Sep. 30, 2020

Loans and Leases Receivable Disclosure [Abstract]

Composition of Loan Portfolio, Excluding Residential Loans Held for Sale

The composition of the Company’s loan portfolio, excluding residential loans held for sale, was as follows for the dates indicated:

(In thousands)						September 30, 2020						December 31, 2019
Commercial Loans:
Commercial real estate						$	1,333,733					$	1,243,397
Commercial						360,629						421,108
SBA PPP						223,838						—
HPFC						14,919						21,593
Total commercial loans						1,933,119						1,686,098
Retail Loans:
Residential real estate						1,044,103						1,070,374
Home equity						274,743						312,779
Consumer						22,877						25,772
Total retail loans						1,341,723						1,408,925
Total loans						$	3,274,842					$	3,095,023

Schedule of Loan Balances by Portfolio Segment

The loan balances for each portfolio segment presented above are net of their respective unamortized fair value mark discount on acquired loans and net of unamortized loan origination costs for the dates indicated:

(In thousands)						September 30, 2020						December 31, 2019
Net unamortized fair value mark discount on acquired loans						$	(1,667)					$	(2,593)
Net unamortized loan (fees) origination costs(1)						(2,439)						3,111
Total						$	(4,106)					$	518

(1)    The change in net unamortized loan (fees) origination costs from December 31, 2019 to September 30, 2020, was primarily driven by origination fees capitalized upon origination of SBA PPP loans during the second and third quarters of 2020. As of September 30, 2020, unamortized loan fees on originated SBA PPP loans were $5.4 million.

Summary of Activity in Allowance for Loan Losses

The following tables present the activity in the ALL and select loan information by portfolio segment for the periods indicated:

(In thousands)						Commercial Real Estate						Commercial						SBA PPP						HPFC						Residential Real Estate						Home Equity						Consumer						Total
At or For The Three and Nine Months Ended September 30, 2020
ALL for the three months ended:
Beginning balance						$	18,386					$	4,679					$	113					$	170					$	8,603					$	3,084					$	504					$	35,539
Loans charged off						(33)						(184)						—						—						(25)						(10)						(55)						(307)
Recoveries						3						139						—						—						4						—						36						182
Provision (credit)(1)						1,173						(246)						2						(21)						124						(51)						19						1,000
Ending balance						$	19,529					$	4,388					$	115					$	149					$	8,706					$	3,023					$	504					$	36,414
ALL for the nine months ended:
Beginning balance						$	12,414					$	3,769					$	—					$	216					$	5,842					$	2,423					$	507					$	25,171
Loans charged off						(104)						(857)						—						—						(121)						(61)						(138)						(1,281)
Recoveries						10						255						—						—						27						4						56						352
Provision (credit)(1)						7,209						1,221						115						(67)						2,958						657						79						12,172
Ending balance						$	19,529					$	4,388					$	115					$	149					$	8,706					$	3,023					$	504					$	36,414
ALL balance attributable to loans:
Individually evaluated for impairment						$	36					$	—					$	—					$	—					$	371					$	87					$	—					$	494
Collectively evaluated for impairment						19,493						4,388						115						149						8,335						2,936						504						35,920
Total ending ALL						$	19,529					$	4,388					$	115					$	149					$	8,706					$	3,023					$	504					$	36,414
Loans:
Individually evaluated for impairment						$	460					$	171					$	—					$	—					$	3,128					$	365					$	—					$	4,124
Collectively evaluated for impairment						1,333,273						360,458						223,838						14,919						1,040,975						274,378						22,877						3,270,718
Total ending loans balance						$	1,333,733					$	360,629					$	223,838					$	14,919					$	1,044,103					$	274,743					$	22,877					$	3,274,842
At or For The Three and Nine Months Ended September 30, 2019
ALL for the three months ended:
Beginning balance						$	12,152					$	4,107					$	—					$	280					$	6,249					$	2,992					$	383					$	26,163
Loans charged off						(92)						(183)						—						(11)						(411)						(348)						(258)						(1,303)
Recoveries						34						56						—						—						2						—						3						95
Provision (credit)(1)						(18)						124						—						(32)						382						132						145						733
Ending balance						$	12,076					$	4,104					$	—					$	237					$	6,222					$	2,776					$	273					$	25,688
ALL for the nine months ended:
Beginning balance						$	11,654					$	3,620					$	—					$	337					$	6,071					$	2,796					$	234					$	24,712
Loans charged off						(157)						(636)						—						(11)						(436)						(392)						(278)						(1,910)
Recoveries						41						167						—						—						6						—						14						228
Provision (credit)(1)						538						953						—						(89)						581						372						303						2,658
Ending balance						$	12,076					$	4,104					$	—					$	237					$	6,222					$	2,776					$	273					$	25,688
ALL balance attributable to loans:
Individually evaluated for impairment						$	29					$	303					$	—					$	—					$	337					$	69					$	—					$	738
Collectively evaluated for impairment						12,047						3,801						—						237						5,885						2,707						273						24,950
Total ending ALL						$	12,076					$	4,104					$	—					$	237					$	6,222					$	2,776					$	273					$	25,688
Loans:
Individually evaluated for impairment						$	406					$	646					$	—					$	—					$	3,880					$	585					$	—					$	5,517
Collectively evaluated for impairment						1,255,113						421,108						—						23,712						1,058,018						322,979						24,187						3,105,117
Total ending loans balance						$	1,255,519					$	421,754					$	—					$	23,712					$	1,061,898					$	323,564					$	24,187					$	3,110,634

(In thousands)						Commercial Real Estate						Commercial						SBA PPP						HPFC						Residential Real Estate						Home Equity						Consumer						Total
At or For The Year Ended December 31, 2019
ALL:
Beginning balance						$	11,654					$	3,620					$	—					$	337					$	6,071					$	2,796					$	234					$	24,712
Loans charged off						(300)						(1,167)						—						(71)						(462)						(412)						(301)						(2,713)
Recoveries						49						225						—						—						16						1						19						310
Provision (credit)(1)						1,011						1,091						—						(50)						217						38						555						2,862
Ending balance						$	12,414					$	3,769					$	—					$	216					$	5,842					$	2,423					$	507					$	25,171
ALL balance attributable to loans:
Individually evaluated for impairment						$	30					$	—					$	—					$	—					$	364					$	69					$	—					$	463
Collectively evaluated for impairment						12,384						3,769						—						216						5,478						2,354						507						24,708
Total ending ALL						$	12,414					$	3,769					$	—					$	216					$	5,842					$	2,423					$	507					$	25,171
Loans:
Individually evaluated for impairment						$	402					$	319					$	—					$	—					$	3,384					$	373					$	—					$	4,478
Collectively evaluated for impairment						1,242,995						420,789						—						21,593						1,066,990						312,406						25,772						3,090,545
Total ending loans balance						$	1,243,397					$	421,108					$	—					$	21,593					$	1,070,374					$	312,779					$	25,772					$	3,095,023

(1)     The provision (credit) for loan losses excludes any impact for the change in the reserve for unfunded commitments, which represents management's estimate of the amount required to reflect the probable inherent losses on outstanding letters of credit and unused lines of credit. The reserve for unfunded commitments is presented within accrued interest and other liabilities on the consolidated statements of condition. At September 30, 2020 and 2019, and December 31, 2019, the reserve for unfunded commitments was $9,000, $11,000 and $21,000, respectively.

Schedule of Provision for Credit Losses

The following reconciles the provision for loan losses to the provision for credit losses as presented on the consolidated statements of income for the periods indicated:

						Three Months Ended September 30,												Nine Months Ended September 30,												Year Ended December 31, 2019
(In thousands)						2020						2019						2020						2019
Provision for loan losses						$	1,000					$	733					$	12,172					$	2,658					$	2,862
Change in reserve for unfunded commitments						(13)						(3)						(12)						(11)						(1)
Provision for credit losses						$	987					$	730					$	12,160					$	2,647					$	2,861

Temporary Loan Modifications

For the dates indicated, the Company's loans impacted by the COVID-19 pandemic and operating under temporary short-term payment deferral arrangements for a period of 180 days or less were as follows:

						September 30, 2020																		June 30, 2020
(In thousands, except number of units)						Units						Recorded Investment						% of Total Loans						Units						Recorded Investment						% of Total Loans
Commercial						210						$	105,879					3.2		%				1,023						$	415,606					12.5		%
Retail						502						75,337						2.3		%				740						131,116						3.9		%
Total						712						$	181,216					5.5		%				1,763						$	546,722					16.4		%

Credit Risk Exposure Indicators by Portfolio Segment

The following summarizes credit risk exposure indicators by portfolio segment as of the following dates:

(In thousands)						Commercial Real Estate						Commercial						SBA PPP						HPFC						Residential  Real Estate						Home Equity						Consumer						Total
September 30, 2020
Pass (Grades 1-6)						$	1,273,616					$	354,160					$	223,838					$	14,100					$	1,037,649					$	—					$	—					$	2,903,363
Performing						—						—						—						—						—						272,246						22,873						295,119
Special Mention (Grade 7)						23,899						2,762						—						—						405						—						—						27,066
Substandard (Grade 8)						36,218						3,707						—						819						6,049						—						—						46,793
Non-performing						—						—						—						—						—						2,497						4						2,501
Total						$	1,333,733					$	360,629					$	223,838					$	14,919					$	1,044,103					$	274,743					$	22,877					$	3,274,842
December 31, 2019
Pass (Grades 1-6)						$	1,196,683					$	415,870					$	—					$	20,667					$	1,062,825					$	—					$	—					$	2,696,045
Performing						—						—						—						—						—						310,653						25,748						336,401
Special Mention (Grade 7)						31,753						2,544						—						89						473						—						—						34,859
Substandard (Grade 8)						14,961						2,694						—						837						7,076						—						—						25,568
Non-performing						—						—						—						—						—						2,126						24						2,150
Total						$	1,243,397					$	421,108					$	—					$	21,593					$	1,070,374					$	312,779					$	25,772					$	3,095,023

Loan Aging Analysis by Portfolio Segment

The following is a loan aging analysis by portfolio segment (including loans past due over 90 days and non-accrual loans) and a summary of non-accrual loans, which include TDRs, and loans past due over 90 days and accruing as of the following dates:

(In thousands)						30-59 Days Past Due						60-89 Days Past Due						90 Days or Greater Past Due						Total Past Due						Current						Total Loans Outstanding						Loans > 90 Days Past Due and Accruing						Non-Accrual Loans
September 30, 2020
Commercial real estate						$	671					$	1,490					$	246					$	2,407					$	1,331,326					$	1,333,733					$	—					$	565
Commercial						1,315						—						605						1,920						358,709						360,629						—						605
SBA PPP						—						—						—						—						223,838						223,838						—						—
HPFC						233						228						304						765						14,154						14,919						—						509
Residential real estate						1,036						775						3,369						5,180						1,038,923						1,044,103						—						4,017
Home equity						367						109						2,102						2,578						272,165						274,743						—						2,499
Consumer						48						56						4						108						22,769						22,877						—						4
Total						$	3,670					$	2,658					$	6,630					$	12,958					$	3,261,884					$	3,274,842					$	—					$	8,199
December 31, 2019
Commercial real estate						$	267					$	1,720					$	544					$	2,531					$	1,240,866					$	1,243,397					$	—					$	1,122
Commercial						548						—						417						965						420,143						421,108						—						420
SBA PPP						—						—						—						—						—						—						—						—
HPFC						—						243						288						531						21,062						21,593						—						364
Residential real estate						2,297						627						2,598						5,522						1,064,852						1,070,374						—						4,096
Home equity						681						238						1,459						2,378						310,401						312,779						—						2,130
Consumer						108						31						23						162						25,610						25,772						—						24
Total						$	3,901					$	2,859					$	5,329					$	12,089					$	3,082,934					$	3,095,023					$	—					$	8,156

Troubled Debt Restructuring and Specific Reserve Related to TDRs

The following is a summary of TDRs, by portfolio segment, and the associated specific reserve included within the ALL for the dates indicated:

						Number of Contracts												Recorded Investment												Specific Reserve
(In thousands, except number of contracts)						September 30, 2020						December 31, 2019						September 30, 2020						December 31, 2019						September 30, 2020						December 31, 2019
Residential real estate						21						22						$	2,670					$	2,869					$	371					$	364
Commercial real estate						2						2						331						338						36						30
Commercial						2						2						107						123						—						—
Consumer and home equity						1						1						297						299						87						69
Total						26						27						$	3,405					$	3,629					$	494					$	463

Summary of Impaired Loan Balances and Associated Allowance by Portfolio Segment

The following is a summary of impaired loan balances and the associated allowance by portfolio segment as of and for the periods indicated:

																								For the Three Months Ended												For the Nine Months Ended
(In thousands)						Recorded Investment						Unpaid Principal Balance						Related Allowance						Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
September 30, 2020:
With an allowance recorded:
Commercial real estate						$	126					$	126					$	36					$	127					$	2					$	127					$	6
Commercial						—						—						—						—						—						—						—
SBA PPP						—						—						—						—						—						—						—
HPFC						—						—						—						—						—						—						—
Residential real estate						2,394						2,394						371						2,349						33						2,328						79
Home equity						316						316						87						317						—						318						—
Consumer						—						—						—						—						—						—						—
Ending balance						2,836						2,836						494						2,793						35						2,773						85
Without an allowance recorded:
Commercial real estate						334						548						—						334						3						304						9
Commercial						171						233						—						175						1						242						4
SBA PPP						—						—						—						—						—						—						—
HPFC						—						—						—						—						—						—						—
Residential real estate						734						858						—						791						2						909						4
Home equity						49						187						—						50						—						52						—
Consumer						—						—						—						—						—						—						—
Ending balance						1,288						1,826						—						1,350						6						1,507						17
Total impaired loans						$	4,124					$	4,662					$	494					$	4,143					$	41					$	4,280					$	102
September 30, 2019:
With an allowance recorded:
Commercial real estate						$	130					$	130					$	29					$	130					$	3					$	130					$	9
Commercial						442						442						303						301						—						365						—
SBA PPP						—						—						—						—						—						—						—
HPFC						—						—						—						—						—						—						—
Residential real estate						2,337						2,337						337						3,026						28						3,137						84
Home equity						318						318						69						658						—						573						—
Consumer						—						—						—						—						—						—						—
Ending Balance						3,227						3,227						738						4,115						31						4,205						93
Without an allowance recorded:
Commercial real estate						276						435						—						278						3						408						10
Commercial						204						267						—						214						1						218						5
SBA PPP						—						—						—						—						—						—						—
HPFC						—						—						—						—						—						—						—
Residential real estate						1,543						2,007						—						1,337						11						1,325						28
Home equity						267						705						—						131						—						130						—
Consumer						—						—						—						—						—						—						—
Ending Balance						2,290						3,414						—						1,960						15						2,081						43
Total impaired loans						$	5,517					$	6,641					$	738					$	6,075					$	46					$	6,286					$	136

																								For the Year Ended
(In thousands)						Recorded Investment						Unpaid Principal Balance						Related Allowance						Average Recorded Investment						Interest Income Recognized
December 31, 2019:
With an allowance recorded:
Commercial real estate						$	128					$	128					$	30					$	130					$	11
Commercial						—						—						—						292						—
SBA PPP						—						—						—						—						—
HPFC						—						—						—						—						—
Residential real estate						2,395						2,395						364						2,989						110
Home equity						318						318						69						522						—
Consumer						—						—						—						—						—
Ending Balance						2,841						2,841						463						3,933						121
Without an allowance recorded:
Commercial real estate						274						433						—						381						13
Commercial						319						685						—						238						7
SBA PPP						—						—						—						—						—
HPFC						—						—						—						—						—
Residential real estate						989						1,116						—						1,258						21
Home equity						55						192						—						115						—
Consumer						—						—						—						1						—
Ending Balance						1,637						2,426						—						1,993						41
Total impaired loans						$	4,478					$	5,267					$	463					$	5,926					$	162

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Tabular disclosure of allowance for credit loss on financing receivable.

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-SubTopic 10
-Section 50
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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
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447

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-Publisher FASB
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Tabular disclosure of aging analysis for financing receivable.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
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