XML 50 R40.htm IDEA: XBRL DOCUMENT

Loans (Tables)

12 Months Ended

Dec. 31, 2023

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
2023
Commercial business		$	734,947			$	753			$	735,700
Commercial mortgage			2,009,269				(3,950	)			2,005,319
Residential real estate loans			637,173				12,649				649,822
Residential real estate lines			73,972				3,395				77,367
Consumer indirect			915,723				33,108				948,831
Other consumer			45,167				(67	)			45,100
Total		$	4,416,251			$	45,888				4,462,139
Allowance for credit losses – loans											(51,082	)
Total loans, net										$	4,411,057
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

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
2023
Commercial business		$	341			$	-			$	-			$	341			$	5,664			$	728,942			$	734,947			$	341
Commercial mortgage			5,900				727				-				6,627				10,563				1,992,079				2,009,269				10,563
Residential real estate loans			2,614				80				-				2,694				6,364				628,115				637,173				6,364
Residential real estate lines			163				20				-				183				221				73,568				73,972				221
Consumer indirect			16,128				3,204				-				19,332				3,814				892,577				915,723				3,814
Other consumer			122				27				21				170				13				44,984				45,167				13
Total loans, gross		$	25,268			$	4,058			$	21			$	29,347			$	26,639			$	4,360,265			$	4,416,251			$	21,316
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

Amortized Cost basis of Loans Modified to Borrowers Experiencing Financial Difficulty

The following table presents the amortized cost basis of loans modified to borrowers experiencing financial difficulty, disaggregated by loan class and type of concession granted as of December 31, 2023 (in thousands):


		Amortized Cost Basis
Loan Type		Interest Rate Reduction				Term Extension				Principal Forgiveness				Combination - Term Extension and Principal Forgiveness				Combination - Term Extension and Interest Rate Reduction				Total				% of Total Loans
Commercial business		$	-			$	-			$	-			$	-			$	-			$	-				0.0	%
Commercial mortgage			-				-				-				-				-				-				0.0	%
Residential real estate loans			-				935				-				-				-				935				0.1	%
Residential real estate lines			-				-				-				-				-				-				0.0	%
Consumer indirect			-				-				-				-				-				-				0.0	%
Other consumer			-				-				-				-				-				-				0.0	%
Total		$	-			$	935			$	-			$	-			$	-			$	935				0.0	%

Financial Effect of the Modifications Made to Borrowers Experiencing Financial Difficulty

The following table describes the financial effect of the modifications made to borrowers experiencing financial difficulty:


Term Extension
Loan Type		Financial Effect
Residential real estate loans		Added a weighted average 10.0 years to the life of the loans, which reduced monthly payment amount for the borrower.

Performance of Loans that are Modified to Borrowers Experiencing Financial Difficulty

The following table depicts the performance of loans that have been modified during the year ended December 31, 2023 (in thousands):


		Payment Status (Amortized Cost Basis)
Loan Type		Current				30-89 Days Past Due				90+ Days Past Due
Commercial business		$	-			$	-			$	-
Commercial mortgage			-				-				-
Residential real estate loans			611				-				324
Residential real estate lines			-				-				-
Consumer indirect			-				-				-
Other consumer			-				-				-
Total		$	611			$	-			$	324

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, 2023
Commercial business		$	8,698			$	5,000			$	13,698			$	2,198
Commercial mortgage			-				26,575				26,575				559
Total		$	8,698			$	31,575			$	40,273			$	2,757

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

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
		2023				2022				2021				2020				2019				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2023
Commercial Business:
Uncriticized		$	111,035			$	124,572			$	77,079			$	49,531			$	21,971			$	64,648			$	257,585			$	-			$	706,421
Special mention			7,532				-				2,400				-				114				-				2,442				-				12,488
Substandard			1,609				11				81				-				-				888				8,532				-				11,121
Doubtful			-				5,097				-				-				14				397				162				-				5,670
Total		$	120,176			$	129,680			$	79,560			$	49,531			$	22,099			$	65,933			$	268,721			$	-			$	735,700
Current period gross write-offs		$	-			$	5			$	3			$	31			$	8			$	235			$	-			$	-			$	282
Commercial Mortgage:
Uncriticized		$	350,370			$	603,686			$	328,916			$	209,213			$	151,022			$	294,703			$	-			$	-			$	1,937,910
Special mention			-				494				17,136				8,982				119				11,355				-				-				38,086
Substandard			-				338				212				918				-				17,291				-				-				18,759
Doubtful			1,397				-				4,098				14				67				4,988				-				-				10,564
Total		$	351,767			$	604,518			$	350,362			$	219,127			$	151,208			$	328,337			$	-			$	-			$	2,005,319
Current period gross write-offs		$	981			$	-			$	-			$	13			$	-			$	18			$	-			$	-			$	1,012

		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

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																								Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
		2023				2022				2021				2020				2019				Prior
December 31, 2023
Residential Real Estate Loans:
Performing		$	112,704			$	80,117			$	80,323			$	109,601			$	70,325			$	190,388			$	-			$	-			$	643,458
Nonperforming			-				384				1,190				1,354				1,137				2,299				-				-				6,364
Total		$	112,704			$	80,501			$	81,513			$	110,955			$	71,462			$	192,687			$	-			$	-			$	649,822
Current period gross write-offs		$	-			$	-			$	-			$	-			$	32			$	95			$	-			$	-			$	127
Residential Real Estate Lines:
Performing		$	-			$	-			$	-			$	-			$	-			$	-			$	72,128			$	5,018			$	77,146
Nonperforming			-				-				-				-				-				-				55				166				221
Total		$	-			$	-			$	-			$	-			$	-			$	-			$	72,183			$	5,184			$	77,367
Current period gross write-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	28			$	13			$	41
Consumer Indirect:
Performing		$	247,194			$	336,369			$	232,891			$	78,652			$	31,091			$	18,820			$	-			$	-			$	945,017
Nonperforming			724				1,083				1,273				380				224				130				-				-				3,814
Total		$	247,918			$	337,452			$	234,164			$	79,032			$	31,315			$	18,950			$	-			$	-			$	948,831
Current period gross write-offs		$	1,371			$	6,279			$	5,845			$	1,787			$	1,282			$	1,459			$	-			$	-			$	18,023
Other Consumer:
Performing		$	35,483			$	3,990			$	1,424			$	949			$	217			$	256			$	2,747			$	-			$	45,066
Nonperforming			13				-				-				-				-				-				21				-				34
Total		$	35,496			$	3,990			$	1,424			$	949			$	217			$	256			$	2,768			$	-			$	45,100
Current period gross write-offs		$	902			$	127			$	105			$	52			$	31			$	20			$	47			$	-			$	1,284

(5.) LOANS (Continued)


		Term Loans Amortized Cost Basis by Origination Year																								Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
		2022				2021				2020				2019				2018				Prior
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

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
2023
Beginning balance			12,585				14,412				3,301				608				14,238				269			$	45,413
Charge-offs			(282	)			(1,012	)			(127	)			(41	)			(18,023	)			(1,284	)			(20,769	)
Recoveries			391				977				38				-				10,428				391				12,225
Provision			408				1,481				2,074				197				7,456				2,597				14,213
Ending balance		$	13,102			$	15,858			$	5,286			$	764			$	14,099			$	1,973			$	51,082

2022
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
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
(Benefit) provision			(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