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Loans (Tables)

12 Months Ended

Dec. 31, 2021

Loans and Leases Receivable Disclosure [Abstract]

Loan Portfolio

The Company’s loan portfolio consisted of the following at December 31 (in thousands):


		Principal Amount Outstanding				Net Deferred Loan (Fees) Costs				Loans, Net
2021
Commercial business		$	639,368			$	(1,075	)		$	638,293
Commercial mortgage			1,415,486				(2,698	)			1,412,788
Residential real estate loans			563,579				13,720				577,299
Residential real estate lines			75,515				3,016				78,531
Consumer indirect			923,052				34,996				958,048
Other consumer			14,355				122				14,477
Total		$	3,631,355			$	48,081				3,679,436
Allowance for credit losses - loans											(39,676	)
Total loans, net										$	3,639,760

2020
Commercial business		$	798,409			$	(4,261	)		$	794,148
Commercial mortgage			1,256,525				(2,624	)			1,253,901
Residential real estate loans			586,537				13,263				599,800
Residential real estate lines			86,708				3,097				89,805
Consumer indirect			812,816				27,605				840,421
Other consumer			16,913				150				17,063
Total		$	3,557,908			$	37,230				3,595,138
Allowance for credit losses - loans											(52,420	)
Total loans, net										$	3,542,718

Recorded Investment by Loan Class in Current and Nonaccrual Loans

The Company’s recorded investment, by loan class, in current and nonaccrual loans, as well as an analysis of accruing delinquent loans is set forth as of December 31 (in thousands):


		30-59 Days Past Due				60-89 Days Past Due				Greater Than 90 Days				Total Past Due				Nonaccrual				Current				Total Loans				Nonaccrual with no allowance
2021
Commercial business		$	659			$	34			$	797			$	1,490			$	602			$	637,276			$	639,368			$	477
Commercial mortgage			69				-				-				69				6,414				1,409,003				1,415,486				781
Residential real estate loans			1,148				141				-				1,289				2,373				559,917				563,579				2,373
Residential real estate lines			18				3				-				21				200				75,294				75,515				200
Consumer indirect			5,706				770				-				6,476				1,780				914,796				923,052				1,780
Other consumer			121				1				-				122				-				14,233				14,355				-
Total loans, gross		$	7,721			$	949			$	797			$	9,467			$	11,369			$	3,610,519			$	3,631,355			$	5,611

2020
Commercial business		$	264			$	87			$	-			$	351			$	1,975			$	796,083			$	798,409			$	1,502
Commercial mortgage			822				26				-				848				2,906				1,252,771				1,256,525				2,709
Residential real estate loans			984				60				-				1,044				2,587				582,906				586,537				2,587
Residential real estate lines			40				15				-				55				323				86,330				86,708				323
Consumer indirect			3,966				1,348				-				5,314				1,495				806,007				812,816				1,495
Other consumer			133				18				231				382				-				16,531				16,913				-
Total loans, gross		$	6,209			$	1,554			$	231			$	7,994			$	9,286			$	3,540,628			$	3,557,908			$	8,616

The Company had $797 thousand of PPP loans greater than 90 days past due and still accruing interest (included in Commercial business above) as of December 31, 2021. Repayment of PPP loans is guaranteed by the SBA.

Summary of Collateral Dependent Loans

The amortized cost basis of collateral dependent loans categorized by collateral type are set forth as of the dates indicated (in thousands):


		Collateral Type
		Business Assets				Real Property				Total				Specific Reserve
December 31, 2021
Commercial business		$	326			$	993			$	1,319			$	1,055
Commercial mortgage			-				37,936				37,936				4,716
Total		$	326			$	38,929			$	39,255			$	5,771

December 31, 2020
Commercial business		$	2,379			$	-			$	2,379			$	1,383
Commercial mortgage			-				36,625				36,625				8,187
Total		$	2,379			$	36,625			$	39,004			$	9,570

Commercial Loan Portfolio Categorized by Internally Assigned Asset Classification

The following tables sets forth the Company’s commercial loan portfolio, categorized by internally assigned asset classification, as of the dates indicated (in thousands):


		Term Loans Amortized Cost Basis by Origination Year
		2021				2020				2019				2018				2017				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2021
Commercial Business
Uncriticized		$	141,925			$	91,338			$	68,433			$	42,631			$	24,847			$	12,033			$	248,338			$	-			$	629,545
Special mention			-				132				166				44				180				1,344				1,993				-				3,859
Substandard			45				256				169				745				415				49				3,210				-				4,889
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	141,970			$	91,726			$	68,768			$	43,420			$	25,442			$	13,426			$	253,541			$	-			$	638,293
Commercial Mortgage
Uncriticized		$	342,483			$	339,988			$	176,753			$	147,247			$	128,381			$	167,739			$	3,712			$	-			$	1,306,303
Special mention			11,184				2,450				29,759				2,344				8,269				27,635				-				-				81,641
Substandard			1,001				77				2,950				11,607				3,209				6,000				-				-				24,844
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	354,668			$	342,515			$	209,462			$	161,198			$	139,859			$	201,374			$	3,712			$	-			$	1,412,788

		Term Loans Amortized Cost Basis by Origination Year
		2020				2019				2018				2017				2016				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2020
Commercial Business
Uncriticized		$	350,992			$	112,469			$	82,029			$	31,990			$	8,195			$	16,600			$	179,770			$	-			$	782,045
Special mention			-				360				21				709				41				1,025				2,995				-				5,151
Substandard			193				211				1,183				464				202				309				4,390				-				6,952
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	351,185			$	113,040			$	83,233			$	33,163			$	8,438			$	17,934			$	187,155			$	-			$	794,148
Commercial Mortgage
Uncriticized		$	310,364			$	227,406			$	163,839			$	161,771			$	74,915			$	154,399			$	731			$	-			$	1,093,425
Special mention			14,299				42,305				19,505				27,530				12,256				28,744				43				-				144,682
Substandard			189				2,521				1,890				1,648				3				9,344				199				-				15,794
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	324,852			$	272,232			$	185,234			$	190,949			$	87,174			$	192,487			$	973			$	-			$	1,253,901

Retail Loan Portfolio Categorized by Performance Status

The following tables sets forth the Company’s retail loan portfolio, categorized by payment status, as of the dates indicated (in thousands):


		Term Loans Amortized Cost Basis by Origination Year
		2021				2020				2019				2018				2017				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2021
Residential Real Estate Loans
Performing		$	92,620			$	129,240			$	85,876			$	65,866			$	50,932			$	150,392			$	-			$	-			$	574,926
Nonperforming			79				55				225				557				899				558				-				-				2,373
Total		$	92,699			$	129,295			$	86,101			$	66,423			$	51,831			$	150,950			$	-			$	-			$	577,299
Residential Real Estate Lines
Performing		$	-			$	-			$	-			$	-			$	-			$	-			$	70,521			$	7,810			$	78,331
Nonperforming			-				-				-				-				-				-				39				161				200
Total		$	-			$	-			$	-			$	-			$	-			$	-			$	70,560			$	7,971			$	78,531
Consumer Indirect
Performing		$	452,601			$	206,472			$	122,849			$	90,998			$	51,598			$	31,750			$	-			$	-			$	956,268
Nonperforming			417				515				436				230				136				46				-				-				1,780
Total		$	453,018			$	206,987			$	123,285			$	91,228			$	51,734			$	31,796			$	-			$	-			$	958,048
Other Consumer
Performing		$	4,422			$	3,738			$	1,681			$	763			$	280			$	1,044			$	2,549			$	-			$	14,477
Nonperforming			-				-				-				-				-				-				-				-				-
Total		$	4,422			$	3,738			$	1,681			$	763			$	280			$	1,044			$	2,549			$	-			$	14,477

		Term Loans Amortized Cost Basis by Origination Year
		2020				2019				2018				2017				2016				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2020
Residential Real Estate Loans
Performing		$	137,926			$	103,923			$	87,153			$	66,446			$	67,473			$	134,292			$	-			$	-			$	597,213
Nonperforming			-				199				765				665				233				725				-				-				2,587
Total		$	137,926			$	104,122			$	87,918			$	67,111			$	67,706			$	135,017			$	-			$	-			$	599,800
Residential Real Estate Lines
Performing		$	-			$	-			$	-			$	-			$	-			$	-			$	79,257			$	10,225			$	89,482
Nonperforming			-				-				-				-				-				-				65				258				323
Total		$	-			$	-			$	-			$	-			$	-			$	-			$	79,322			$	10,483			$	89,805
Consumer Indirect
Performing		$	295,216			$	202,187			$	166,773			$	111,008			$	47,793			$	15,949			$	-			$	-			$	838,926
Nonperforming			70				652				319				287				132				35				-				-				1,495
Total		$	295,286			$	202,839			$	167,092			$	111,295			$	47,925			$	15,984			$	-			$	-			$	840,421
Other Consumer
Performing		$	6,774			$	3,177			$	1,765			$	907			$	369			$	508			$	3,563			$	-			$	17,063
Nonperforming			-				-				-				-				-				-				-				-				-
Total		$	6,774			$	3,177			$	1,765			$	907			$	369			$	508			$	3,563			$	-			$	17,063

Changes in the Allowance for Loan Losses

The following tables set forth the changes in the allowance for credit losses - loans for the years ended December 31 (in thousands):


		Commercial Business				Commercial Mortgage				Residential Real Estate Loans				Residential Real Estate Lines				Consumer Indirect				Other Consumer				Total
2021
Allowance for credit losses - loans:
Beginning balance			13,580				21,763				3,924				674				12,165				314			$	52,420
Charge-offs			(669	)			(3,999	)			(148	)			(141	)			(7,236	)			(1,026	)			(13,219	)
Recoveries			881				185				92				-				5,980				321				7,459
Provision (benefit)			(2,693	)			(3,172	)			(2,264	)			(154	)			702				597				(6,984	)
Ending balance		$	11,099			$	14,777			$	1,604			$	379			$	11,611			$	206			$	39,676

2020
Allowance for credit losses - loans:
Beginning balance, prior to adoption of ASC 326		$	11,358			$	5,681			$	1,059			$	118			$	11,852			$	414			$	30,482
Impact of adopting ASC 326			(246	)			7,310				3,290				607				(1,234	)			(133	)		$	9,594
Beginning balance, after adoption of ASC 326			11,112				12,991				4,349				725				10,618				281				40,076
Charge-offs			(9,093	)			(1,792	)			(100	)			-				(9,959	)			(681	)			(21,625	)
Recoveries			1,709				37				28				3				5,681				352				7,810
Provision (benefit)			9,852				10,527				(353	)			(54	)			5,825				362				26,159
Ending balance		$	13,580			$	21,763			$	3,924			$	674			$	12,165			$	314			$	52,420


		Commercial Business				Commercial Mortgage				Residential Real Estate Loans				Residential Real Estate Lines				Consumer Indirect				Other Consumer				Total
2019
Allowance for loan losses:
Beginning balance		$	14,312			$	5,219			$	1,112			$	210			$	12,572			$	489				33,914
Charge-offs			(2,481	)			(2,997	)			(340	)			(13	)			(10,810	)			(1,170	)			(17,811	)
Recoveries			492				17				43				6				5,390				387				6,335
Provision (benefit)			(965	)			3,442				244				(85	)			4,700				708				8,044
Ending balance		$	11,358			$	5,681			$	1,059			$	118			$	11,852			$	414			$	30,482
Evaluated for impairment:
Individually		$	214			$	479			$	-			$	-			$	-			$	-			$	693
Collectively		$	11,144			$	5,202			$	1,059			$	118			$	11,852			$	414			$	29,789

Loans:
Ending balance		$	571,222			$	1,108,315			$	560,717			$	101,048			$	822,179			$	15,984			$	3,179,465
Evaluated for impairment:
Individually		$	1,177			$	3,146			$	-			$	-			$	-			$	-			$	4,323
Collectively		$	570,045			$	1,105,169			$	560,717			$	101,048			$	822,179			$	15,984			$	3,175,142