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Loans and Allowance for Credit Losses on Loans (Tables)

12 Months Ended

Dec. 31, 2024

Receivables [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:

						December 31,
(In thousands)						2024						2023
Commercial Loans:
Commercial real estate - non-owner-occupied						$	1,387,252					$	1,370,446
Commercial real estate - owner-occupied						324,712						301,860
Commercial						382,785						403,901
Total commercial loans						2,094,749						2,076,207
Retail Loans:
Residential real estate						1,752,249						1,763,378
Home equity						253,251						240,341
Consumer						15,010						18,168
Total retail loans						2,020,510						2,021,887
Total loans						$	4,115,259					$	4,098,094

Schedule of Loan Balances for Each Portfolio Segment

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

						December 31,
(In thousands)						2024						2023
Net unamortized fair value mark discount on acquired loans						$	(79)					$	(168)
Net unamortized loan origination costs						6,685						7,113
Total						$	6,606					$	6,945

Activity in Allowance for Loan Losses by Portfolio Segment

The following table presents the activity in the ACL on loans, as reported under CECL, for the periods indicated:

						Commercial Real Estate
(In thousands)						Non-Owner-Occupied						Owner- Occupied						Commercial									Residential Real Estate						Home Equity						Consumer						Total
At or For the Year Ended December 31, 2024
Beginning balance, December 31, 2023						$	16,581					$	2,290					$	4,869								$	10,254					$	2,217					$	724					$	36,935
Loans charged-off						—						—						(1,784)									—						(1)						(98)						(1,883)
Recoveries						10						—						455									26						98						34						623
(Credit) provision for loan losses						(1,694)						191						2,316									(301)						83						(542)						53
Ending balance, December 31, 2024						$	14,897					$	2,481					$	5,856								$	9,979					$	2,397					$	118					$	35,728
At or For the Year Ended December 31, 2023
Beginning balance, December 31, 2022						$	17,296					$	2,362					$	5,446								$	9,089					$	2,225					$	504					$	36,922
Loans charged-off						—						(58)						(1,560)									(18)						—						(91)						(1,727)
Recoveries						19						—						471									44						1						31						566
(Credit) provision for loan losses						(734)						(14)						512									1,139						(9)						280						1,174
Ending balance, December 31, 2023						$	16,581					$	2,290					$	4,869								$	10,254					$	2,217					$	724					$	36,935

Credit Risk Exposure Indicators by Portfolio Segment

Based on the most recent analysis performed, the risk category of loans by portfolio segment by vintage, reported under the CECL methodology, was as follows as of December 31, 2024:

(In thousands)						2024						2023						2022						2021						2020						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term						Total
Commercial real estate - non-owner-occupied
Risk rating:
Pass (Grades 1-6)						$	91,377					$	107,607					$	324,743					$	285,862					$	140,686					$	390,527					$	—					$	—					$	1,340,802
Special mention (Grade 7)						—						—						—						—						342						225						—						—						567
Substandard (Grade 8)						—						195						25,252						—						—						20,436						—						—						45,883
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total commercial real estate - non-owner-occupied						$	91,377					$	107,802					$	349,995					$	285,862					$	141,028					$	411,188					$	—					$	—					$	1,387,252
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Commercial real estate - owner-occupied
Risk rating:
Pass (Grades 1-6)						$	53,436					$	31,141					$	48,633					$	71,629					$	19,582					$	89,092					$	—					$	—					$	313,513
Special mention (Grade 7)						—						—						—						1,900						—						304						—						—						2,204
Substandard (Grade 8)						—						540						822						191						—						7,442						—						—						8,995
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total commercial real estate - owner-occupied						$	53,436					$	31,681					$	49,455					$	73,720					$	19,582					$	96,838					$	—					$	—					$	324,712
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Commercial
Risk rating:
Pass (Grades 1-6)						$	81,815					$	26,918					$	44,283					$	30,134					$	16,644					$	23,014					$	115,795					$	37,211					$	375,814
Special mention (Grade 7)						534						—						—						—						—						—						282						—						816
Substandard (Grade 8)						—						1,030						706						159						125						1,175						984						1,976						6,155
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total commercial						$	82,349					$	27,948					$	44,989					$	30,293					$	16,769					$	24,189					$	117,061					$	39,187					$	382,785
Gross charge-offs for the year ended						$	—					$	146					$	47					$	54					$	89					$	1,017					$	357					$	74					$	1,784
Residential Real Estate
Risk rating:
Pass (Grades 1-6)						$	133,856					$	151,020					$	500,756					$	502,285					$	204,756					$	255,104					$	406					$	1,175					$	1,749,358
Special mention (Grade 7)						—						—						—						—						—						—						—						—						—
Substandard (Grade 8)						—						—						—						778						—						2,113						—						—						2,891
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total residential real estate						$	133,856					$	151,020					$	500,756					$	503,063					$	204,756					$	257,217					$	406					$	1,175					$	1,752,249
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Home equity
Risk rating:
Performing						$	3,708					$	13,961					$	20,003					$	439					$	302					$	13,378					$	185,581					$	15,448					$	252,820
Non-performing						—						—						—						—						—						8						264						159						431
Total home equity						$	3,708					$	13,961					$	20,003					$	439					$	302					$	13,386					$	185,845					$	15,607					$	253,251
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	—					$	1					$	—					$	1
Consumer
Risk rating:
Performing						$	4,307					$	3,188					$	2,784					$	1,080					$	380					$	2,102					$	1,151					$	—					$	14,992
Non-performing						—						—						15						—						—						3						—						—						18
Total consumer						$	4,307					$	3,188					$	2,799					$	1,080					$	380					$	2,105					$	1,151					$	—					$	15,010
Gross charge-offs for the year ended						$	—					$	47					$	18					$	14					$	5					$	—					$	14					$	—					$	98

Based on the most recent analysis performed, the risk category of loans by portfolio segment by vintage, reported under the CECL methodology, was as follows as of December 31, 2023:

(In thousands)						2023						2022						2021						2020						2019						Prior						Revolving Loans Amortized Cost Basis						Revolving Loans Converted to Term						Total
As of December 31, 2023
Commercial real estate - non-owner-occupied
Risk rating:
Pass (Grades 1-6)						$	103,012					$	364,777					$	296,152					$	146,707					$	116,777					$	320,101					$	—					$	—					$	1,347,526
Special mention (Grade 7)						7,997						—						—						350						33						3,597						—						—						11,977
Substandard (Grade 8)						747						450						—						2,287						114						7,345						—						—						10,943
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total commercial real estate - non-owner-occupied						$	111,756					$	365,227					$	296,152					$	149,344					$	116,924					$	331,043					$	—					$	—					$	1,370,446
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Commercial real estate - owner-occupied
Risk rating:
Pass (Grades 1-6)						$	26,902					$	53,550					$	76,575					$	24,608					$	18,728					$	89,133					$	—					$	—					$	289,496
Special mention (Grade 7)						—						—						2,355						—						—						141						—						—						2,496
Substandard (Grade 8)						—						402						320						—						—						9,146						—						—						9,868
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total commercial real estate - owner-occupied						$	26,902					$	53,952					$	79,250					$	24,608					$	18,728					$	98,420					$	—					$	—					$	301,860
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	58					$	—					$	—					$	58
Commercial
Risk rating:
Pass (Grades 1-6)						$	41,871					$	54,323					$	56,102					$	24,338					$	25,620					$	35,442					$	119,119					$	36,895					$	393,710
Special mention (Grade 7)						45						—						152						195						—						101						660						5						1,158
Substandard (Grade 8)						248						588						296						769						955						1,354						2,415						2,408						9,033
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total commercial						$	42,164					$	54,911					$	56,550					$	25,302					$	26,575					$	36,897					$	122,194					$	39,308					$	403,901
Gross charge-offs for the year ended						$	—					$	68					$	137					$	31					$	20					$	1,075					$	82					$	147					$	1,560
Residential Real Estate
Risk rating:
Pass (Grades 1-6)						$	160,315					$	539,835					$	540,980					$	220,943					$	70,917					$	226,126					$	370					$	386					$	1,759,872
Special mention (Grade 7)						—						—						—						—						—						—						—						—						—
Substandard (Grade 8)						—						—						963						—						89						2,454						—						—						3,506
Doubtful (Grade 9)						—						—						—						—						—						—						—						—						—
Total residential real estate						$	160,315					$	539,835					$	541,943					$	220,943					$	71,006					$	228,580					$	370					$	386					$	1,763,378
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	18					$	—					$	—					$	18
Home equity
Risk rating:
Performing						$	15,976					$	23,104					$	547					$	324					$	4,124					$	12,686					$	169,416					$	13,405					$	239,582
Non-performing						—						—						—						—						—						11						527						221						759
Total home equity						$	15,976					$	23,104					$	547					$	324					$	4,124					$	12,697					$	169,943					$	13,626					$	240,341
Gross charge-offs for the year ended						$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—					$	—
Consumer
Risk rating:
Performing						$	5,525					$	4,908					$	2,068					$	815					$	345					$	2,279					$	2,191					$	—					$	18,131
Non-performing						—						—						5						—						—						32						—						—						37
Total consumer						$	5,525					$	4,908					$	2,073					$	815					$	345					$	2,311					$	2,191					$	—					$	18,168
Gross charge-offs for the year ended						$	2					$	19					$	31					$	14					$	8					$	4					$	13					$	—					$	91

Loan Aging Analysis by Portfolio Segment (Including Loans Past Due Over Ninety Days and Non Accrual Loans) and Summary of Non Accrual Loans, Which Include Troubled Debt Restructured Loans, and Loans Past Due Over Ninety Days and Accruing

The following is a loan aging analysis by portfolio segment (including loans past due over 90 days and non-accrual loans) 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
December 31, 2024:
Commercial real estate - non-owner-occupied						$	59					$	—					$	130					$	189					$	1,387,063					$	1,387,252					$	—
Commercial real estate - owner-occupied						85						545						430						1,060						323,652						324,712						—
Commercial						373						265						1,548						2,186						380,599						382,785						—
Residential real estate						333						333						974						1,640						1,750,609						1,752,249						—
Home equity						428						141						125						694						252,557						253,251						—
Consumer						55						13						18						86						14,924						15,010						—
Total						$	1,333					$	1,297					$	3,225					$	5,855					$	4,109,404					$	4,115,259					$	—
December 31, 2023:
Commercial real estate - non-owner-occupied						$	44					$	41					$	184					$	269					$	1,370,177					$	1,370,446					$	—
Commercial real estate - owner-occupied						655						—						—						655						301,205						301,860						—
Commercial						1,153						1,199						1,155						3,507						400,394						403,901						—
Residential real estate						1,317						322						1,094						2,733						1,760,645						1,763,378						—
Home equity						521						451						301						1,273						239,068						240,341						—
Consumer						85						8						5						98						18,070						18,168						—
Total						$	3,775					$	2,021					$	2,739					$	8,535					$	4,089,559					$	4,098,094					$	—

Financing Receivable, Nonaccrual

The following table presents the amortized cost basis of loans on non-accrual status by portfolio segment as of the dates indicated:

						December 31,
						2024																		2023
(In thousands)						Non-Accrual Loans With an Allowance						Non-Accrual Loans Without an Allowance						Total Non-Accrual Loans						Non-Accrual Loans With an Allowance						Non-Accrual Loans Without an Allowance						Total Non-Accrual Loans
Commercial real estate - non-owner-occupied						$	129					$	—					$	129					$	261					$	—					$	261
Commercial real estate - owner-occupied						430						—						430						125						—						125
Commercial						1,927						—						1,927						1,725						—						1,725
Residential real estate						1,891						—						1,891						2,541						—						2,541
Home equity						434						—						434						759						—						759
Consumer						18						—						18						37						—						37
Total						$	4,829					$	—					$	4,829					$	5,448					$	—					$	5,448

The following table presents the amortized cost basis of collateral-dependent loans by portfolio segment and collateral type, as of the dates indicated:

						December 31, 2024															December 31, 2023
						Collateral Type									Total Collateral -Dependent Non-Accrual Loans						Collateral Type									Total Collateral -Dependent Non-Accrual Loans
(In thousands)						Real Estate						Other Assets									Real Estate						Other Assets
Commercial real estate - non-owner-occupied						$	4,448					$	—		$	4,448					$	4,494					$	—		$	4,494
Commercial						—						669			669						671						—			671
Total						$	4,448					$	669		$	5,117					$	5,165					$	—		$	5,165

Summary of All Troubled Debt Restructuring Loans (Accruing and Non Accruing) by Portfolio Segment

The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable as of December 31, 2024 and 2023, is also presented below:

(In thousands)						Number of modified loans						Principal Forgiveness						Payment Delay						Term Extension						Interest Rate Reduction						Combination Term Extension and Principal Forgiveness						Combination Term Extension and Interest Rate Reduction						Total % of Portfolio
December 31, 2024:
Commercial						3						$	—					$	—					$	1,060					$	—					$	—					$	—					0.3		%
Total						3						$	—					$	—					$	1,060					$	—					$	—					$	—					—		%
December 31, 2023:
Commercial real estate - non-owner-occupied						1						$	—					$	—					$	4,494					$	—					$	—					$	—					0.3		%
Total						1						$	—					$	—					$	4,494					$	—					$	—					$	—					0.1		%

The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the year ended December 31, 2024 and December 31, 2023:

(In thousands)						Principal Forgiveness						Weighted Average Interest Rate Reduction						Weighted Average Term Extension (Years)
December 31, 2024:
Commercial						$	—					—		%				1.4
December 31, 2023:
Commercial real estate - non-owner-occupied						$	—					—		%				1.3

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