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Loans and Allowance for Credit Losses | 9 Months Ended
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Sep. 30, 2023
Loans and Allowance for Credit Losses |
Loans and Allowance for Credit Losses | NOTE 4 Loans and Allowance for Credit Losses The following table presents total loans outstanding, by portfolio segment, as of September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | September 30, |  | December 31,
(dollars in thousands) |  | 2023 |  | 2022
Commercial | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 582,387 | ​ | $ | 583,876
Real estate construction | ​ |  | 97,742 | ​ |  | 97,810
Commercial real estate | ​ |  | 1,025,014 | ​ |  | 881,670
Total commercial | ​ |  | 1,705,143 | ​ |  | 1,563,356
Consumer | ​ |  |  | ​ |  |
Residential real estate first mortgage | ​ |  | 717,793 | ​ |  | 679,551
Residential real estate junior lien | ​ |  | 152,677 | ​ |  | 150,479
Other revolving and installment | ​ |  | 30,817 | ​ |  | 50,608
Total consumer | ​ |  | 901,287 | ​ |  | 880,638
Total loans | ​ | $ | 2,606,430 | ​ | $ | 2,443,994
​ Total loans included net deferred loan fees and costs of $0.5 million and $0.9 million at September 30, 2023 and December 31, 2022, respectively. Unearned discounts associated with the acquisition of Metro Phoenix Bank totaled $5.2 million as of September 30, 2023. Accrued interest receivable on loans is recorded within accrued interest receivable, and totaled $11.5 million at September 30, 2023 and $9.2 million at December 31, 2022. Management monitors the credit quality of its loan portfolio on an ongoing basis. Measurements of delinquency and past due status are based on the contractual terms of each loan. Past due loans are reviewed regularly to identify loans for nonaccrual status. The following tables present a past due aging analysis of total loans outstanding, by portfolio segment, as of September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 90 Days | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Accruing | ​ | 30 - 89 Days | ​ | or More | ​ | ​ | ​ | ​ | Total
(dollars in thousands) |  | Current |  | Past Due |  | Past Due |  | Nonaccrual |  | Loans
Commercial |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial and industrial | ​ | $ | 572,898 | ​ | $ | 2,929 | ​ | $ | — | ​ | $ | 6,560 | ​ | $ | 582,387
Real estate construction | ​ |  | 97,627 | ​ |  | — | ​ |  | — | ​ |  | 115 | ​ |  | 97,742
Commercial real estate | ​ |  | 1,024,118 | ​ |  | — | ​ |  | — | ​ |  | 896 | ​ |  | 1,025,014
Total commercial | ​ |  | 1,694,643 | ​ |  | 2,929 | ​ |  | — | ​ |  | 7,571 | ​ |  | 1,705,143
Consumer | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential real estate first mortgage | ​ |  | 716,799 | ​ |  | 108 | ​ |  | — | ​ | ​ | 886 | ​ |  | 717,793
Residential real estate junior lien | ​ |  | 151,593 | ​ |  | 538 | ​ |  | — | ​ |  | 546 | ​ |  | 152,677
Other revolving and installment | ​ |  | 30,635 | ​ |  | 178 | ​ |  | — | ​ |  | 4 | ​ |  | 30,817
Total consumer | ​ |  | 899,027 | ​ |  | 824 | ​ |  | — | ​ |  | 1,436 | ​ |  | 901,287
Total loans | ​ | $ | 2,593,670 | ​ | $ | 3,753 | ​ | $ | — | ​ | $ | 9,007 | ​ | $ | 2,606,430
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | 90 Days | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Accruing | ​ | 30 - 89 Days | ​ | or More | ​ | ​ | ​ | ​ | Total
(dollars in thousands) |  | Current |  | Past Due |  | Past Due |  | Nonaccrual |  | Loans
Commercial | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Commercial and industrial | ​ | $ | 580,288 | ​ | $ | 2,426 | ​ | $ | — | ​ | $ | 1,162 | ​ | $ | 583,876
Real estate construction | ​ |  | 97,370 | ​ |  | — | ​ |  | — | ​ |  | 440 | ​ |  | 97,810
Commercial real estate | ​ |  | 879,830 | ​ |  | 368 | ​ |  | — | ​ |  | 1,472 | ​ |  | 881,670
Total commercial | ​ |  | 1,557,488 | ​ |  | 2,794 | ​ |  | — | ​ |  | 3,074 | ​ |  | 1,563,356
Consumer | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential real estate first mortgage | ​ |  | 677,471 | ​ |  | 1,545 | ​ |  | — | ​ |  | 535 | ​ |  | 679,551
Residential real estate junior lien | ​ |  | 149,918 | ​ |  | 377 | ​ |  | — | ​ |  | 184 | ​ |  | 150,479
Other revolving and installment | ​ |  | 50,360 | ​ |  | 247 | ​ |  | — | ​ |  | 1 | ​ |  | 50,608
Total consumer | ​ |  | 877,749 | ​ |  | 2,169 | ​ |  | — | ​ |  | 720 | ​ |  | 880,638
Total loans | ​ | $ | 2,435,237 | ​ | $ | 4,963 | ​ | $ | — | ​ | $ | 3,794 | ​ | $ | 2,443,994
​ In calculating expected credit losses, the Company includes loans on nonaccrual status and loans 90 days or more past due and still accruing. The following table presents the amortized cost basis on nonaccrual status loans and loans 90 days or more past due and still accruing as of September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of September 30, 2023
​ | ​ | Nonaccrual | ​ | ​ | ​ | ​ | 90 Days
​ | ​ | with no Allowance | ​ | ​ | ​ | ​ | or More
(dollars in thousands) | ​ | for Credit Losses | ​ | Nonaccrual | ​ | Past Due
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | — | ​ | $ | 6,560 | ​ | $ | —
Real estate construction | ​ | ​ | 115 | ​ | ​ | 115 | ​ | ​ | —
Commercial real estate | ​ | ​ | — | ​ | ​ | 896 | ​ | ​ | —
Total commercial | ​ | ​ | 115 | ​ | ​ | 7,571 | ​ | ​ | —
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ | ​ | 880 | ​ | ​ | 886 | ​ | ​ | —
Residential real estate junior lien | ​ | ​ | 46 | ​ | ​ | 546 | ​ | ​ | —
Other revolving and installment | ​ | ​ | — | ​ | ​ | 4 | ​ | ​ | —
Total consumer | ​ | ​ | 926 | ​ | ​ | 1,436 | ​ | ​ | —
Total loans | ​ | $ | 1,041 | ​ | $ | 9,007 | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Nonaccrual | ​ | ​ | ​ | ​ | 90 Days
​ | ​ | with no Allowance | ​ | ​ | ​ | ​ | or More
(dollars in thousands) | ​ | for Credit Losses | ​ | Nonaccrual | ​ | Past Due
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 638 | ​ | $ | 1,162 | ​ | $ | —
Real estate construction | ​ | ​ | — | ​ | ​ | 440 | ​ | ​ | —
Commercial real estate | ​ | ​ | 576 | ​ | ​ | 1,472 | ​ | ​ | —
Total commercial | ​ | ​ | 1,214 | ​ | ​ | 3,074 | ​ | ​ | —
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ | ​ | 535 | ​ | ​ | 535 | ​ | ​ | —
Residential real estate junior lien | ​ | ​ | 184 | ​ | ​ | 184 | ​ | ​ | —
Other revolving and installment | ​ | ​ | 1 | ​ | ​ | 1 | ​ | ​ | —
Total consumer | ​ | ​ | 720 | ​ | ​ | 720 | ​ | ​ | —
Total loans | ​ | $ | 1,934 | ​ | $ | 3,794 | ​ | $ | —
​ Loans with a carrying value of $1.9 billion as of September 30, 2023 and $1.5 billion as of December 31, 2022, were pledged to secure public deposits, and for other purposes required or permitted by law. A loan for which the terms have been modified resulting in a concession represents a loan experiencing financial difficulty. Loans experiencing financial difficulty can include modifications for an interest rate reduction below current market rates, a forgiveness of principal balance, an extension of the loan term, an-other than significant payment delay, or some combination of similar types of modifications. During the three and nine months ended September 30, 2023, the Company did not provide any modifications to loans under these circumstances that were experiencing financial difficulty. The Company’s consumer loan portfolio is primarily comprised of secured loans that are evaluated at origination on a centralized basis against standardized underwriting criteria. The Company generally does not risk rate consumer loans unless a default event such as bankruptcy or extended nonperformance takes place. Credit quality for the consumer loan portfolio is measured by delinquency rates, nonaccrual amounts and actual losses incurred. The Company assigns a risk rating to all commercial loans, except pools of homogeneous loans, and performs detailed internal and external reviews of risk rated loans over a certain threshold to identify credit risks and to assess the overall collectability of the portfolio. These risk ratings are also subject to examination by the Company’s regulators. During the internal reviews, management monitors and analyzes the financial condition of borrowers and guarantors, trends in the industries in which the borrowers operate and the estimated fair values of collateral securing the loans. These credit quality indicators are used to assign a risk rating to each individual loan. The Company’s ratings are aligned to pass and criticized categories. The criticized category includes special mention, substandard, and doubtful risk ratings. The risk ratings are defined as follows: Pass: A pass loan is a credit with no existing or known potential weaknesses deserving of management’s close attention. Special Mention: Loans classified as special mention have a potential weakness that deserves management’s close attention. If left uncorrected, this potential weakness may result in deterioration of the repayment prospects for the loan or of the Company’s credit position at some future date. Special mention loans are not adversely classified and do not expose the Company to sufficient risk to warrant adverse classification. Substandard: Loans classified as substandard are not adequately protected by the current net worth and paying capacity of the borrower or of the collateral pledged, if any. Loans classified as substandard have a well-defined weakness or weaknesses that jeopardize the repayment of the debt. Well-defined weaknesses include a borrower’s lack of marketability, inadequate cash flow or collateral support, failure to complete construction on time, or the failure to fulfill economic expectations. They are characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Doubtful: Loans classified as doubtful have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or repayment in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. Loss: Loans classified as loss are considered uncollectible and charged off immediately. ​ The following table sets forth the amortized cost basis of loans by credit quality indicator and vintage based on the most recent analysis performed, as of September 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Revolving | ​ | ​ | ​
(dollars in thousands) |  | Term Loans Amortized Cost Basis by Origination Year | ​ | Loans Amortized | ​ | ​ | ​
As of September 30, 2023 | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | Prior | ​ | Cost Basis | ​ | Total
Commercial and industrial | ​ | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​
Pass | ​ | $ | 104,091 | ​ | $ | 107,346 | ​ | $ | 75,494 | ​ | $ | 67,184 | ​ | $ | 37,877 | ​ | $ | 50,189 | ​ | $ | 108,524 | ​ | $ | 550,705
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 273 | ​ | ​ | 273
Substandard | ​ | ​ | 117 | ​ | ​ | 5,052 | ​ | ​ | 377 | ​ | ​ | 8,064 | ​ | ​ | 104 | ​ | ​ | 2,214 | ​ | ​ | 15,481 | ​ | ​ | 31,409
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subtotal | ​ | ​ | 104,208 | ​ | ​ | 112,398 | ​ | ​ | 75,871 | ​ | ​ | 75,248 | ​ | ​ | 37,981 | ​ | ​ | 52,403 | ​ | ​ | 124,278 | ​ | ​ | 582,387
Real estate construction | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | ​ | 14,284 | ​ | ​ | 39,029 | ​ | ​ | 18,594 | ​ | ​ | 144 | ​ | ​ | 9,506 | ​ | ​ | 1,054 | ​ | ​ | — | ​ | ​ | 82,611
Special mention | ​ | ​ | — | ​ | ​ | 15,131 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 15,131
Substandard | ​ | ​ | — |  | ​ | — |  | ​ | — |  | ​ | — |  | ​ | — |  | ​ | — | ​ | ​ | — |  | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subtotal | ​ | ​ | 14,284 | ​ | ​ | 54,160 | ​ | ​ | 18,594 | ​ | ​ | 144 | ​ | ​ | 9,506 | ​ | ​ | 1,054 | ​ | ​ | — | ​ | ​ | 97,742
Commercial real estate | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | ​ | 151,721 | ​ | ​ | 277,347 | ​ | ​ | 140,323 | ​ | ​ | 158,590 | ​ | ​ | 108,798 | ​ | ​ | 164,538 | ​ | ​ | 16,765 | ​ | ​ | 1,018,082
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — |  | ​ | 97 |  | ​ | 886 |  | ​ | — |  | ​ | 4,157 |  | ​ | 1,792 | ​ | ​ | — |  | ​ | 6,932
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subtotal | ​ | ​ | 151,721 | ​ | ​ | 277,444 | ​ | ​ | 141,209 | ​ | ​ | 158,590 | ​ | ​ | 112,955 | ​ | ​ | 166,330 | ​ | ​ | 16,765 | ​ | ​ | 1,025,014
Residential real estate first mortgage | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | ​ | 58,972 | ​ | ​ | 203,782 | ​ | ​ | 222,783 | ​ | ​ | 109,029 | ​ | ​ | 33,356 | ​ | ​ | 89,480 | ​ | ​ | 284 | ​ | ​ | 717,686
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 107 | ​ | ​ | — | ​ | ​ | 107
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subtotal | ​ | ​ | 58,972 | ​ | ​ | 203,782 | ​ | ​ | 222,783 | ​ | ​ | 109,029 | ​ | ​ | 33,356 | ​ | ​ | 89,587 | ​ | ​ | 284 | ​ | ​ | 717,793
Residential real estate junior lien | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | ​ | 17,021 | ​ | ​ | 16,755 | ​ | ​ | 6,452 | ​ | ​ | 4,908 | ​ | ​ | 1,779 | ​ | ​ | 6,299 | ​ | ​ | 97,541 | ​ | ​ | 150,755
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 331 | ​ | ​ | 1,591 | ​ | ​ | 1,922
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subtotal | ​ | ​ | 17,021 | ​ | ​ | 16,755 | ​ | ​ | 6,452 | ​ | ​ | 4,908 | ​ | ​ | 1,779 | ​ | ​ | 6,630 | ​ | ​ | 99,132 | ​ | ​ | 152,677
Other revolving and installment | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | ​ | 5,786 | ​ | ​ | 6,936 | ​ | ​ | 1,319 | ​ | ​ | 5,159 | ​ | ​ | 2,000 | ​ | ​ | 1,442 | ​ | ​ | 8,175 | ​ | ​ | 30,817
Special mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Subtotal | ​ | ​ | 5,786 | ​ | ​ | 6,936 | ​ | ​ | 1,319 | ​ | ​ | 5,159 | ​ | ​ | 2,000 | ​ | ​ | 1,442 | ​ | ​ | 8,175 | ​ | ​ | 30,817
Total Loans | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | ​ | 351,875 | ​ | ​ | 651,195 | ​ | ​ | 464,965 | ​ | ​ | 345,014 | ​ | ​ | 193,316 | ​ | ​ | 313,002 | ​ | ​ | 231,289 | ​ | ​ | 2,550,656
Special mention | ​ | ​ | — | ​ | ​ | 15,131 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 273 | ​ | ​ | 15,404
Substandard | ​ | ​ | 117 | ​ | ​ | 5,149 | ​ | ​ | 1,263 | ​ | ​ | 8,064 | ​ | ​ | 4,261 | ​ | ​ | 4,444 | ​ | ​ | 17,072 | ​ | ​ | 40,370
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total loans | ​ | $ | 351,992 | ​ | $ | 671,475 | ​ | $ | 466,228 | ​ | $ | 353,078 | ​ | $ | 197,577 | ​ | $ | 317,446 | ​ | $ | 248,634 | ​ | $ | 2,606,430
​ ​ The following table sets forth the risk category of loans by class of loans and credit quality indicator used on the most recent analysis performed as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | ​ | ​ | ​ | Criticized | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Special | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(dollars in thousands) |  | Pass |  | Mention |  | Substandard |  | Doubtful |  | Total
Commercial |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial and industrial | ​ | $ | 558,694 | ​ | $ | 21,969 | ​ | $ | 3,213 | ​ | $ | — | ​ | $ | 583,876
Real estate construction | ​ |  | 97,548 | ​ |  | — | ​ |  | 262 | ​ |  | — | ​ |  | 97,810
Commercial real estate | ​ |  | 873,270 | ​ |  | — | ​ |  | 8,400 | ​ |  | — | ​ |  | 881,670
Total commercial | ​ | ​ | 1,529,512 | ​ | ​ | 21,969 | ​ | ​ | 11,875 | ​ | ​ | — | ​ | ​ | 1,563,356
Consumer | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential real estate first mortgage | ​ |  | 678,743 | ​ |  | 63 | ​ |  | 745 | ​ |  | — | ​ |  | 679,551
Residential real estate junior lien | ​ |  | 149,847 | ​ |  | — | ​ |  | 632 | ​ |  | — | ​ |  | 150,479
Other revolving and installment | ​ |  | 50,607 | ​ |  | — | ​ |  | 1 | ​ |  | — | ​ |  | 50,608
Total consumer | ​ |  | 879,197 | ​ |  | 63 | ​ |  | 1,378 | ​ |  | — | ​ |  | 880,638
Total loans | ​ | $ | 2,408,709 | ​ | $ | 22,032 | ​ | $ | 13,253 | ​ | $ | — | ​ | $ | 2,443,994
​ The adequacy of the allowance for credit losses on loans is assessed at the end of each quarter. The allowance for credit losses is estimated using relevant information, from internal and external sources, relating to past events, current conditions, and reasonable supportable forecasts. Historical data is evaluated in multiple components of the expected credit loss, including the reasonable and supportable forecast of each loan segment. Historical experience is used to infer probability of default and loss given the reasonable and supportable forecast period. Qualitative reserves reflect management’s overall estimate of the extent to which current expected credit losses on collectively evaluated loans will differ from historical loss experience. The analysis takes into consideration other analytics performed within the organization, such as enterprise and concentration management, along with other credit-related analytics as deemed appropriate. The following tables present, by loan portfolio segment, a summary of the changes in the allowance for credit losses on loans for the three and nine months ended September 30, 2023 and 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, 2023
​ | ​ | Beginning | ​ | Provision for | ​ | Loan | ​ | Loan | ​ | Ending
(dollars in thousands) |  | Balance |  | Credit Losses |  | Charge-offs |  | Recoveries |  | Balance
Commercial |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |
Commercial and industrial | ​ | $ | 7,813 | ​ | $ | 442 | ​ | $ | (134) | ​ | $ | 456 | ​ | $ | 8,577
Real estate construction | ​ |  | 3,646 | ​ |  | 1,063 | ​ |  | — | ​ |  | — | ​ |  | 4,709
Commercial real estate | ​ |  | 12,965 | ​ |  | (270) | ​ |  | — | ​ |  | 11 | ​ |  | 12,706
Total commercial | ​ |  | 24,424 | ​ |  | 1,235 | ​ |  | (134) | ​ |  | 467 | ​ |  | 25,992
Consumer | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential real estate first mortgage | ​ |  | 7,901 | ​ |  | (389) | ​ |  | (9) | ​ |  | 254 | ​ |  | 7,757
Residential real estate junior lien | ​ |  | 1,351 | ​ |  | (14) | ​ |  | — | ​ |  | — | ​ |  | 1,337
Other revolving and installment | ​ |  | 293 | ​ |  | (58) | ​ |  | (8) | ​ |  | 24 | ​ |  | 251
Total consumer | ​ |  | 9,545 | ​ |  | (461) | ​ |  | (17) | ​ |  | 278 | ​ |  | 9,345
Unallocated | ​ |  | 1,727 | ​ |  | (774) | ​ |  | — | ​ |  | — | ​ |  | 953
Total | ​ | $ | 35,696 | ​ | $ | — | ​ | $ | (151) | ​ | $ | 745 | ​ | $ | 36,290
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended September 30, 2023
​ | ​ | Beginning | ​ | Adoption | ​ | Provision for | ​ | Loan | ​ | Loan | ​ | Ending
(dollars in thousands) |  | Balance |  | of ASC 326 |  | Credit Losses(1) |  | Charge-offs |  | Recoveries |  | Balance
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 9,158 | ​ | $ | (862) | ​ | $ | (275) | ​ | $ | (394) | ​ | $ | 950 | ​ | $ | 8,577
Real estate construction | ​ | ​ | 1,446 | ​ | ​ | 2,518 | ​ | ​ | 745 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,709
Commercial real estate | ​ | ​ | 12,688 | ​ | ​ | (424) | ​ | ​ | 408 | ​ | ​ | — | ​ | ​ | 34 | ​ | ​ | 12,706
Total commercial | ​ | ​ | 23,292 | ​ | ​ | 1,232 | ​ | ​ | 878 | ​ | ​ | (394) | ​ | ​ | 984 | ​ | ​ | 25,992
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ | ​ | 5,769 | ​ | ​ | 2,080 | ​ | ​ | (339) | ​ | ​ | (9) | ​ | ​ | 256 | ​ | ​ | 7,757
Residential real estate junior lien | ​ | ​ | 1,289 | ​ | ​ | (67) | ​ | ​ | 140 | ​ | ​ | (77) | ​ | ​ | 52 | ​ | ​ | 1,337
Other revolving and installment | ​ | ​ | 528 | ​ | ​ | (104) | ​ | ​ | (188) | ​ | ​ | (36) | ​ | ​ | 51 | ​ | ​ | 251
Total consumer | ​ | ​ | 7,586 | ​ | ​ | 1,909 | ​ | ​ | (387) | ​ | ​ | (122) | ​ | ​ | 359 | ​ | ​ | 9,345
Unallocated | ​ | ​ | 268 | ​ | ​ | 716 | ​ | ​ | (31) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 953
Total | ​ | $ | 31,146 | ​ | $ | 3,857 | ​ | $ | 460 | ​ | $ | (516) | ​ | $ | 1,343 | ​ | $ | 36,290
(1) | The difference in the credit loss expense reported herein compared to the Consolidated Statements of Income is associated with the credit loss expense of $44 thousand related to off-balance sheet credit exposures and $46 thousand related to investment securities held-to-maturity.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30, 2022
​ | ​ | Beginning | ​ | Provision for | ​ | Loan | ​ | Loan | ​ | Ending
(dollars in thousands) |  | Balance |  | Loan Losses |  | Charge-offs |  | Recoveries |  | Balance
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 10,333 | ​ | $ | (845) | ​ | $ | (672) | ​ | $ | 105 | ​ | $ | 8,921
Real estate construction | ​ | ​ | 878 | ​ |  | 378 | ​ |  | — | ​ |  | 76 | ​ | ​ | 1,332
Commercial real estate | ​ | ​ | 10,834 | ​ |  | 1,335 | ​ |  | — | ​ |  | 101 | ​ | ​ | 12,270
Total commercial | ​ | ​ | 22,045 | ​ |  | 868 | ​ |  | (672) | ​ |  | 282 | ​ | ​ | 22,523
Consumer | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​
Residential real estate first mortgage | ​ | ​ | 6,175 | ​ |  | (584) | ​ |  | — | ​ |  | — | ​ | ​ | 5,591
Residential real estate junior lien | ​ | ​ | 1,467 | ​ |  | (109) | ​ |  | — | ​ |  | 7 | ​ | ​ | 1,365
Other revolving and installment | ​ | ​ | 634 | ​ |  | (75) | ​ |  | (75) | ​ |  | 53 | ​ | ​ | 537
Total consumer | ​ | ​ | 8,276 | ​ | ​ | (768) | ​ | ​ | (75) | ​ | ​ | 60 | ​ | ​ | 7,493
Unallocated | ​ | ​ | 1,052 | ​ |  | (100) | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 952
Total | ​ | $ | 31,373 | ​ | $ | — | ​ | $ | (747) | ​ | $ | 342 | ​ | $ | 30,968
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine months ended September 30, 2022
​ | ​ | Beginning | ​ | Provision for | ​ | Loan | ​ | Loan | ​ | Ending
(dollars in thousands) |  | Balance |  | Loan Losses |  | Charge-offs |  | Recoveries |  | Balance
Commercial | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Commercial and industrial | ​ | $ | 8,925 | ​ | $ | 1,011 | ​ | $ | (1,336) | ​ | $ | 321 | ​ | $ | 8,921
Real estate construction | ​ |  | 783 | ​ |  | 473 | ​ |  | — | ​ |  | 76 | ​ |  | 1,332
Commercial real estate | ​ |  | 12,376 | ​ |  | (229) | ​ |  | — | ​ |  | 123 | ​ |  | 12,270
Total commercial | ​ |  | 22,084 | ​ |  | 1,255 | ​ |  | (1,336) | ​ |  | 520 | ​ |  | 22,523
Consumer | ​ |  | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Residential real estate first mortgage | ​ |  | 6,532 | ​ |  | (941) | ​ |  | — | ​ |  | — | ​ |  | 5,591
Residential real estate junior lien | ​ |  | 1,295 | ​ |  | (151) | ​ |  | — | ​ | ​ | 221 | ​ |  | 1,365
Other revolving and installment | ​ |  | 481 | ​ |  | 65 | ​ |  | (130) | ​ |  | 121 | ​ |  | 537
Total consumer | ​ |  | 8,308 | ​ |  | (1,027) | ​ |  | (130) | ​ |  | 342 | ​ |  | 7,493
Unallocated | ​ |  | 1,180 | ​ |  | (228) | ​ |  | — | ​ |  | — | ​ |  | 952
Total | ​ | $ | 31,572 | ​ | $ | — | ​ | $ | (1,466) | ​ | $ | 862 | ​ | $ | 30,968
​ ​ The following table presents, by loan portfolio segment, a summary of charge-offs, by vintage, for the nine months ended September 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Gross Charge-offs for nine months ended September 30, 2023
(dollars in thousands) | ​ | 2023 | ​ | 2022 | ​ | 2021 | ​ | 2020 | ​ | 2019 | ​ | Prior | ​ | Total
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 39 | ​ | $ | — | ​ | $ | 28 | ​ | $ | 11 | ​ | $ | 247 | ​ | $ | 69 | ​ | $ | 394
Real estate construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Commercial real estate | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total commercial | ​ | ​ | 39 | ​ | ​ | — | ​ | ​ | 28 | ​ | ​ | 11 | ​ | ​ | 247 | ​ | ​ | 69 | ​ | ​ | 394
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 9
Residential real estate junior lien | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 77 | ​ | ​ | 77
Other revolving and installment | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | — | ​ | ​ | 27 | ​ | ​ | 4 | ​ | ​ | 3 | ​ | ​ | 36
Total consumer | ​ | ​ | — | ​ | ​ | 2 | ​ | ​ | 9 | ​ | ​ | 27 | ​ | ​ | 4 | ​ | ​ | 80 | ​ | ​ | 122
Total loans | ​ | $ | 39 | ​ | $ | 2 | ​ | $ | 37 | ​ | $ | 38 | ​ | $ | 251 | ​ | $ | 149 | ​ | $ | 516
​ The following tables present the amortized cost and related allowance for credit losses on loans, by portfolio segment, as of September 30, 2023 and December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | September 30, 2023
​ | ​ | Amortized Cost | ​ | Allowance for Credit Losses on Loans
​ | ​ | Individually | ​ | Collectively | ​ | ​ | ​ | ​ | Individually | ​ | Collectively | ​ | ​ | ​
​ | ​ | Evaluated for | ​ | Evaluated for | ​ | ​ | ​ | ​ | Evaluated for | ​ | Evaluated for | ​ | ​ | ​
(dollars in thousands) |  | Impairment |  | Impairment |  | Total |  | Impairment |  | Impairment |  | Total
Commercial | ​ | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 6,559 | ​ | $ | 575,828 | ​ | $ | 582,387 | ​ | $ | 1,352 | ​ | $ | 7,225 | ​ | $ | 8,577
Real estate construction | ​ |  | 115 | ​ |  | 97,627 | ​ |  | 97,742 | ​ | ​ | — | ​ | ​ | 4,709 | ​ | ​ | 4,709
Commercial real estate | ​ |  | 896 | ​ |  | 1,024,118 | ​ |  | 1,025,014 | ​ | ​ | — | ​ | ​ | 12,706 | ​ | ​ | 12,706
Total commercial | ​ |  | 7,570 | ​ |  | 1,697,573 | ​ |  | 1,705,143 | ​ | ​ | 1,352 | ​ | ​ | 24,640 | ​ | ​ | 25,992
Consumer | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ |  | 886 | ​ |  | 716,907 | ​ |  | 717,793 | ​ | ​ | — | ​ | ​ | 7,757 | ​ | ​ | 7,757
Residential real estate junior lien | ​ |  | 547 | ​ |  | 152,130 | ​ |  | 152,677 | ​ | ​ | — | ​ | ​ | 1,337 | ​ | ​ | 1,337
Other revolving and installment | ​ |  | 4 | ​ |  | 30,813 | ​ |  | 30,817 | ​ | ​ | — | ​ | ​ | 251 | ​ | ​ | 251
Total consumer | ​ |  | 1,437 | ​ |  | 899,850 | ​ |  | 901,287 | ​ | ​ | — | ​ | ​ | 9,345 | ​ | ​ | 9,345
Unallocated | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 953
Total loans | ​ | $ | 9,007 | ​ | $ | 2,597,423 | ​ | $ | 2,606,430 | ​ | $ | 1,352 | ​ | $ | 33,985 | ​ | $ | 36,290
​ ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Recorded Investment | ​ | Allowance for Loan Losses
​ | ​ | Individually | ​ | Collectively | ​ | ​ | ​ | ​ | Individually | ​ | Collectively | ​ | ​ | ​
(dollars in thousands) |  | Evaluated |  | Evaluated |  | Total |  | Evaluated |  | Evaluated |  | Total
Commercial | ​ | ​ |  |  | ​ |  |  | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 1,313 | ​ | $ | 582,563 | ​ | $ | 583,876 | ​ | $ | 275 | ​ | $ | 8,883 | ​ | $ | 9,158
Real estate construction | ​ |  | 262 | ​ |  | 97,548 | ​ |  | 97,810 | ​ | ​ | 97 | ​ | ​ | 1,349 | ​ | ​ | 1,446
Commercial real estate | ​ |  | 1,472 | ​ |  | 880,198 | ​ |  | 881,670 | ​ | ​ | 582 | ​ | ​ | 12,106 | ​ | ​ | 12,688
Total commercial | ​ |  | 3,047 | ​ |  | 1,560,309 | ​ |  | 1,563,356 | ​ | ​ | 954 | ​ | ​ | 22,338 | ​ | ​ | 23,292
Consumer | ​ |  |  | ​ |  |  | ​ |  |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ |  | 535 | ​ |  | 679,016 | ​ |  | 679,551 | ​ | ​ | — | ​ | ​ | 5,769 | ​ | ​ | 5,769
Residential real estate junior lien | ​ |  | 184 | ​ | ​ | 150,295 | ​ |  | 150,479 | ​ | ​ | — | ​ | ​ | 1,289 | ​ | ​ | 1,289
Other revolving and installment | ​ |  | 1 | ​ |  | 50,607 | ​ |  | 50,608 | ​ | ​ | — | ​ | ​ | 528 | ​ | ​ | 528
Total consumer | ​ |  | 720 | ​ |  | 879,918 | ​ |  | 880,638 | ​ | ​ | — | ​ | ​ | 7,586 | ​ | ​ | 7,586
Unallocated | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 268
Total loans | ​ | $ | 3,767 | ​ | $ | 2,440,227 | ​ | $ | 2,443,994 | ​ | $ | 954 | ​ | $ | 29,924 | ​ | $ | 31,146
​ The following table presents the amortized cost basis of collateral dependent loans, by the primary collateral type, which are individually evaluated to determine expected credit losses, and the related ACL allocated to these loans, as of September 30, 2023: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of September 30, 2023
​ | ​ | Primary Type of Collateral
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Allowance for
(dollars in thousands) | ​ | Real estate | ​ | Equipment | ​ | Other | ​ | Total | ​ | Credit Losses
Commercial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Commercial real estate | ​ | ​ | 572 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 572 | ​ | ​ | 572
Total commercial | ​ | ​ | 572 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 572 | ​ | ​ | 572
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Residential real estate first mortgage | ​ | ​ | 886 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 886 | ​ | ​ | 3
Residential real estate junior lien | ​ | ​ | 46 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 46 | ​ | ​ | —
Other revolving and installment | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4 | ​ | ​ | 4 | ​ | ​ | 2
Total consumer | ​ | ​ | 932 | ​ | ​ | — | ​ | ​ | 4 | ​ | ​ | 936 | ​ | ​ | 5
Total loans | ​ | $ | 1,504 | ​ | $ | — | ​ | $ | 4 | ​ | $ | 1,508 | ​ | $ | 577
​ Pre-ASC 326 Adoption impaired loan disclosures The table below summarizes key information on impaired loans as of December 31, 2022: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, 2022
​ | ​ | Recorded | ​ | Unpaid | ​ | Related
(dollars in thousands) |  | Investment |  | Principal |  | Allowance
Impaired loans with a valuation allowance | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 675 | ​ | $ | 711 | ​ | $ | 275
Real estate construction | ​ | ​ | 262 | ​ | ​ | 440 | ​ | ​ | 97
Commercial real estate | ​ |  | 896 | ​ |  | 900 | ​ |  | 582
Residential real estate first mortgage | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total impaired loans with a valuation allowance | ​ | ​ | 1,833 | ​ | ​ | 2,051 | ​ | ​ | 954
Impaired loans without a valuation allowance |  | ​ |  |  | ​ |  |  | ​ |
Commercial and industrial | ​ | ​ | 638 | ​ | ​ | 767 | ​ | ​ | —
Real estate construction | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Commercial real estate | ​ | ​ | 576 | ​ |  | 660 | ​ |  | —
Residential real estate first mortgage | ​ | ​ | 535 | ​ |  | 573 | ​ |  | —
Residential real estate junior lien | ​ | ​ | 184 | ​ |  | 218 | ​ |  | —
Other revolving and installment | ​ | ​ | 1 | ​ |  | 1 | ​ |  | —
Total impaired loans without a valuation allowance | ​ | ​ | 1,934 | ​ | ​ | 2,219 | ​ | ​ | —
Total impaired loans | ​ | ​ |  | ​ |  |  | ​ |  |
Commercial and industrial | ​ | ​ | 1,313 | ​ | ​ | 1,478 | ​ | ​ | 275
Real estate construction | ​ | ​ | 262 | ​ | ​ | 440 | ​ | ​ | 97
Commercial real estate | ​ |  | 1,472 | ​ |  | 1,560 | ​ |  | 582
Residential real estate first mortgage | ​ | ​ | 535 | ​ | ​ | 573 | ​ | ​ | —
Residential real estate junior lien | ​ |  | 184 | ​ |  | 218 | ​ |  | —
Other revolving and installment | ​ |  | 1 | ​ |  | 1 | ​ |  | —
Total impaired loans | ​ | $ | 3,767 | ​ | $ | 4,270 | ​ | $ | 954
​ The table below presents the average recorded investment in impaired loans and interest income for the three and nine months ended September 30, 2022:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three months ended September 30,
​ | ​ | 2022
​ | ​ | Average | ​ | ​ | ​
​ | ​ | Recorded | ​ | Interest
(dollars in thousands) |  | Investment |  | Income
Impaired loans with a valuation allowance | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | $ | 722 | ​ | $ | 3
Commercial real estate | ​ | ​ | — | ​ | ​ | —
Residential real estate first mortgage | ​ | ​ | — | ​ | ​ | —
Residential real estate junior lien | ​ | ​ | — | ​ | ​ | —
Other revolving and installment | ​ | ​ | — | ​ | ​ | —
Total impaired loans with a valuation allowance | ​ | ​ | 722 | ​ | ​ | 3
Impaired loans without a valuation allowance |  | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | ​ | 1,371 | ​ | ​ | 7
Commercial real estate | ​ | ​ | 801 | ​ | ​ | 2
Residential real estate first mortgage | ​ | ​ | 2,032 | ​ | ​ | —
Residential real estate junior lien | ​ | ​ | 189 | ​ | ​ | —
Other revolving and installment | ​ | ​ | 8 | ​ | ​ | —
Total impaired loans without a valuation allowance | ​ | ​ | 4,401 | ​ | ​ | 9
Total impaired loans | ​ | ​ | ​ | ​ | ​ | ​
Commercial and industrial | ​ | ​ | 2,093 | ​ | ​ | 10
Commercial real estate | ​ | ​ | 801 | ​ | ​ | 2
Residential real estate first mortgage | ​ | ​ | 2,032 | ​ | ​ | —
Residential real estate junior lien | ​ | ​ | 189 | ​ | ​ | —
Other revolving and installment | ​ | ​ | 8 | ​ | ​ | —
Total impaired loans | ​ | $ | 5,123 | ​ | $ | 12
​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Nine Months Ended September 30,
​ | ​ | 2022
​ | ​ | Average | ​ | ​ | ​
​ | ​ | Recorded | ​ | Interest
(dollars in thousands) |  | Investment |  | Income
Impaired loans with a valuation allowance | ​ |  |  | ​ |  |
Commercial and industrial | ​ | $ | 833 | ​ | $ | 8
Commercial real estate | ​ |  | — | ​ |  | —
Residential real estate first mortgage | ​ | ​ | — | ​ | ​ | —
Residential real estate junior lien | ​ |  | — | ​ |  | —
Other revolving and installment | ​ |  | — | ​ |  | —
Total impaired loans with a valuation allowance | ​ | ​ | 833 | ​ | ​ | 8
Impaired loans without a valuation allowance | ​ | ​ |  |  | ​ |
Commercial and industrial | ​ | ​ | 1,291 | ​ | ​ | 21
Commercial real estate | ​ |  | 805 | ​ |  | 5
Residential real estate first mortgage | ​ |  | 2,108 | ​ |  | —
Residential real estate junior lien | ​ |  | 193 | ​ | ​ | —
Other revolving and installment | ​ |  | 11 | ​ |  | —
Total impaired loans without a valuation allowance | ​ | ​ | 4,408 | ​ | ​ | 26
Total impaired loans | ​ |  |  | ​ |  |
Commercial and industrial | ​ | ​ | 2,124 | ​ | ​ | 29
Commercial real estate | ​ |  | 805 | ​ |  | 5
Residential real estate first mortgage | ​ |  | 2,108 | ​ |  | —
Residential real estate junior lien | ​ |  | 193 | ​ |  | —
Other revolving and installment | ​ |  | 11 | ​ |  | —
Total impaired loans | ​ | $ | 5,241 | ​ | $ | 34
​

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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