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Loans (Tables)

3 Months Ended

9 Months Ended

Mar. 31, 2022

Sep. 30, 2021

Loans and Leases Receivable Disclosure [Abstract]

Loan Portfolio

The Company’s loan portfolio consisted of the following as of the dates indicated (in thousands):

		Principal Amount Outstanding				Net Deferred Loan (Fees) Costs				Loans, Net
March 31, 2022
Commercial business		$	625,238			$	(97	)		$	625,141
Commercial mortgage			1,437,341				(2,582	)			1,434,759
Residential real estate loans			561,208				13,687				574,895
Residential real estate lines			73,809				3,051				76,860
Consumer indirect			970,919				36,485				1,007,404
Other consumer			14,473				116				14,589
Total		$	3,682,988			$	50,660				3,733,648
Allowance for credit losses - loans											(40,966	)
Total loans, net										$	3,692,682
December 31, 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

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 the dates indicated (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
March 31, 2022
Commercial business		$	762			$	13			$	491			$	1,266			$	499			$	623,473			$	625,238			$	459
Commercial mortgage			11,286				—				—				11,286				3,838				1,422,217				1,437,341				3,778
Residential real estate loans			919				37				—				956				2,878				557,374				561,208				2,878
Residential real estate lines			73				15				—				88				128				73,593				73,809				128
Consumer indirect			5,348				1,526				—				6,874				1,771				962,274				970,919				1,771
Other consumer			100				7				2				109				10				14,354				14,473				10
Total loans, gross		$	18,488			$	1,598			$	493			$	20,579			$	9,124			$	3,653,285			$	3,682,988			$	9,024
December 31, 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

Summary of Collateral Dependent Loans

The following table presents the amortized cost basis of collateral dependent loans by collateral type as of March 31, 2022 and December 31, 2021 (in thousands):

		Collateral type
		Business assets				Real property				Total				Specific Reserve
March 31, 2022
Commercial business		$	220			$	984			$	1,204			$	1,044
Commercial mortgage			—				35,236				35,236				3,650
Total		$	220			$	36,220			$	36,440			$	4,694
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

Commercial Loan Portfolio Categorized by Internally Assigned Asset Classification

The following tables set 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
		2022				2021				2020				2019				2018				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
March 31, 2022
Commercial Business
Uncriticized		$	24,519			$	128,347			$	88,856			$	75,146			$	40,051			$	35,565			$	225,544			$	—			$	618,028
Special mention			—				39				55				152				66				994				1,487				—				2,793
Substandard			—				42				168				134				608				453				2,915				—				4,320
Doubtful			—				—				—				—				—				—				—				—				—
Total		$	24,519			$	128,428			$	89,079			$	75,432			$	40,725			$	37,012			$	229,946			$	—			$	625,141
Commercial Mortgage
Uncriticized		$	70,550			$	361,901			$	327,340			$	175,565			$	128,402			$	264,718			$	3,688			$	—			$	1,332,164
Special mention			14,940				495				2,321				14,625				12,524				35,177				—				—				80,082
Substandard			2,862				1,249				181				86				9,981				8,154				—				—				22,513
Doubtful			—				—				—				—				—				—				—				—				—
Total		$	88,352			$	363,645			$	329,842			$	190,276			$	150,907			$	308,049			$	3,688			$	—			$	1,434,759

		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

Retail Loan Portfolio Categorized by Performance Status

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

		Term Loans Amortized Cost Basis by Origination Year
		2022				2021				2020				2019				2018				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
March 31, 2022
Residential Real Estate Loans
Performing		$	18,887			$	91,758			$	127,171			$	83,004			$	61,876			$	189,321			$	—			$	—			$	572,017
Nonperforming			—				79				164				482				574				1,579				—				—				2,878
Total		$	18,887			$	91,837			$	127,335			$	83,486			$	62,450			$	190,900			$	—			$	—			$	574,895
Residential Real Estate Lines
Performing		$	—			$	—			$	—			$	—			$	—			$	—			$	69,005			$	7,727			$	76,732
Nonperforming			—				—				—				—				—				—				37				91				128
Total		$	—			$	—			$	—			$	—			$	—			$	—			$	69,042			$	7,818			$	76,860
Consumer Indirect
Performing		$	147,648			$	432,445			$	185,779			$	106,725			$	77,069			$	55,967			$	—			$	—			$	1,005,633
Nonperforming			—				688				430				359				191				103				—				—				1,771
Total		$	147,648			$	433,133			$	186,209			$	107,084			$	77,260			$	56,070			$	—			$	—			$	1,007,404
Other Consumer
Performing		$	1,662			$	3,939			$	3,251			$	1,393			$	599			$	902			$	2,831			$	—			$	14,577
Nonperforming			—				12				—				—				—				—				—				—				12
Total		$	1,662			$	3,951			$	3,251			$	1,393			$	599			$	902			$	2,831			$	—			$	14,589

		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

Changes in the Allowance for Loan Losses

The following table sets forth the changes in the allowance for credit losses - loans for the three months ended March 31, 2022 and 2021 (in thousands):

		Commercial Business				Commercial Mortgage				Residential Real Estate Loans				Residential Real Estate Lines				Consumer Indirect				Other Consumer				Total
March 31, 2022
Allowance for credit losses - loans:
Beginning balance		$	11,099			$	14,777			$	1,604			$	379			$	11,611			$	206			$	39,676
Charge-offs			(51	)			—				—				—				(2,486	)			(376	)			(2,913	)
Recoveries			88				1				5				5				1,936				91				2,126
(Benefit) provision			(1,015	)			(1,032	)			243				41				3,507				333				2,077
Ending balance		$	10,121			$	13,746			$	1,852			$	425			$	14,568			$	254			$	40,966
March 31, 2021
Allowance for credit losses - loans:
Beginning balance		$	13,580			$	21,763			$	3,924			$	674			$	12,165			$	314			$	52,420
Charge-offs			(86	)			(203	)			(11	)			(70	)			(2,413	)			(81	)			(2,864	)
Recoveries			238				—				5				—				1,670				64				1,977
(Benefit) provision			(1,062	)			1,112				(809	)			(122	)			(865	)			41				(1,705	)
Ending balance		$	12,670			$	22,672			$	3,109			$	482			$	10,557			$	338			$	49,828

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