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Loans (Tables)

12 Months Ended

Dec. 31, 2022

Loans and Leases Receivable Disclosure [Abstract]

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


		Principal Amount Outstanding				Net Deferred Loan (Fees) Costs				Loans, Net
2022
Commercial business		$	663,611			$	638			$	664,249
Commercial mortgage			1,683,814				(3,974	)			1,679,840
Residential real estate loans			576,279				13,681				589,960
Residential real estate lines			74,432				3,238				77,670
Consumer indirect			985,580				38,040				1,023,620
Other consumer			15,002				108				15,110
Total		$	3,998,718			$	51,731				4,050,449
Allowance for credit losses – loans											(45,413	)
Total loans, net										$	4,005,036

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 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
2022
Commercial business		$	176			$	10			$	-			$	186			$	340			$	663,085			$	663,611			$	233
Commercial mortgage			-				-				-				-				2,564				1,681,250				1,683,814				659
Residential real estate loans			1,306				28				-				1,334				4,071				570,874				576,279				4,071
Residential real estate lines			264				102				-				366				142				73,924				74,432				142
Consumer indirect			12,637				2,073				-				14,710				3,079				967,791				985,580				3,079
Other consumer			111				1				1				113				1				14,888				15,002				1
Total loans, gross		$	14,494			$	2,214			$	1			$	16,709			$	10,197			$	3,971,812			$	3,998,718			$	8,185

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 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, 2022
Commercial business		$	147			$	993			$	1,140			$	126
Commercial mortgage			-				21,592				21,592				1,152
Total		$	147			$	22,585			$	22,732			$	1,278

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 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
		2022				2021				2020				2019				2018				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2022
Commercial Business
Uncriticized		$	146,581			$	105,001			$	61,115			$	29,644			$	39,625			$	21,467			$	244,848			$	-			$	648,281
Special mention			238				2,351				8,736				7				5				-				1,809				-				13,146
Substandard			-				72				-				42				516				1,034				1,158				-				2,822
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	146,819			$	107,424			$	69,851			$	29,693			$	40,146			$	22,501			$	247,815			$	-			$	664,249
Commercial Mortgage
Uncriticized		$	464,863			$	380,138			$	260,463			$	171,918			$	116,770			$	248,771			$	-			$	-			$	1,642,923
Special mention			-				-				2,319				136				-				11,784				-				-				14,239
Substandard			2,987				202				105				78				10,104				9,202				-				-				22,678
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	467,850			$	380,340			$	262,887			$	172,132			$	126,874			$	269,757			$	-			$	-			$	1,679,840

		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 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
		2022				2021				2020				2019				2018				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2022
Residential Real Estate Loans
Performing		$	79,882			$	85,821			$	118,819			$	76,437			$	55,520			$	169,410			$	-			$	-			$	585,889
Nonperforming			-				305				510				795				677				1,784				-				-				4,071
Total		$	79,882			$	86,126			$	119,329			$	77,232			$	56,197			$	171,194			$	-			$	-			$	589,960
Residential Real Estate Lines
Performing		$	-			$	-			$	-			$	-			$	-			$	-			$	70,942			$	6,586			$	77,528
Nonperforming			-				-				-				-				-				-				34				108				142
Total		$	-			$	-			$	-			$	-			$	-			$	-			$	70,976			$	6,694			$	77,670
Consumer Indirect
Performing		$	440,332			$	331,902			$	126,664			$	59,981			$	39,352			$	22,310			$	-			$	-			$	1,020,541
Nonperforming			748				1,209				432				381				205				104				-				-				3,079
Total		$	441,080			$	333,111			$	127,096			$	60,362			$	39,557			$	22,414			$	-			$	-			$	1,023,620
Other Consumer
Performing		$	6,463			$	2,664			$	2,043			$	761			$	213			$	308			$	2,656			$	-			$	15,108
Nonperforming			-				-				-				-				-				-				2				-				2
Total		$	6,463			$	2,664			$	2,043			$	761			$	213			$	308			$	2,658			$	-			$	15,110

		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 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
2022
Allowance for credit losses - loans:
Beginning balance			11,099				14,777				1,604				379				11,611				206			$	39,676
Charge-offs			(312	)			(1,170	)			(303	)			(38	)			(13,215	)			(1,682	)			(16,720	)
Recoveries			376				2,023				24				39				8,677				343				11,482
Provision (benefit)			1,422				(1,218	)			1,976				228				7,165				1,402				10,975
Ending balance		$	12,585			$	14,412			$	3,301			$	608			$	14,238			$	269			$	45,413

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 (credit)			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