XML 38 R31.htm IDEA: XBRL DOCUMENT

Loans (Tables)

3 Months Ended

Mar. 31, 2025

Loans and Leases Receivable Disclosure [Abstract]

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, 2025
Commercial business		$	708,698			$	403			$	709,101
Commercial mortgage–construction			567,981				(1,622	)			566,359
Commercial mortgage–multifamily			476,400				(533	)			475,867
Commercial mortgage–non-owner occupied			900,843				(1,164	)			899,679
Commercial mortgage–owner occupied			286,421				(30	)			286,391
Residential real estate loans			633,750				10,233				643,983
Residential real estate lines			71,562				3,207				74,769
Consumer indirect			826,730				26,446				853,176
Other consumer			44,024				(71	)			43,953
Total		$	4,516,409			$	36,869				4,553,278
Allowance for credit losses–loans											(48,964	)
Total loans, net										$	4,504,314
December 31, 2024
Commercial business		$	664,846			$	475			$	665,321
Commercial mortgage–construction			584,296				(1,677	)			582,619
Commercial mortgage–multifamily			471,499				(545	)			470,954
Commercial mortgage–non-owner occupied			859,079				(1,092	)			857,987
Commercial mortgage–owner occupied			288,042				(6	)			288,036
Residential real estate loans			639,466				10,740				650,206
Residential real estate lines			72,308				3,244				75,552
Consumer indirect			819,116				26,656				845,772
Other consumer			42,827				(70	)			42,757
Total		$	4,441,479			$	37,725				4,479,204
Allowance for credit losses–loans											(48,041	)
Total loans, net										$	4,431,163

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 specific allowance
March 31, 2025
Commercial business		$	373			$	199			$	—			$	572			$	5,672			$	702,454			$	708,698			$	356
Commercial mortgage–construction			2,329				—				—				2,329				19,684				545,968				567,981				19,460
Commercial mortgage–multifamily			219				—				—				219				—				476,181				476,400				—
Commercial mortgage–non-owner occupied			244				—				—				244				4,766				895,833				900,843				286
Commercial mortgage–owner occupied			—				—				—				—				349				286,072				286,421				349
Residential real estate loans			1,725				62				—				1,787				6,035				625,928				633,750				6,035
Residential real estate lines			96				85				—				181				316				71,065				71,562				316
Consumer indirect			5,257				1,662				—				6,919				2,917				816,894				826,730				2,917
Other consumer			289				149				36				474				243				43,307				44,024				243
Total loans, gross		$	10,532			$	2,157			$	36			$	12,725			$	39,982			$	4,463,702			$	4,516,409			$	29,962
December 31, 2024
Commercial business		$	293			$	9			$	8			$	310			$	5,609			$	658,927			$	664,846			$	427
Commercial mortgage–construction			-				2,285				-				2,285				20,280				561,731				584,296				19,460
Commercial mortgage–multifamily			-				-				-				-				-				471,499				471,499				-
Commercial mortgage–non-owner occupied			256				-				-				256				4,773				854,050				859,079				4,773
Commercial mortgage–owner occupied			-				-				-				-				354				287,688				288,042				354
Residential real estate loans			3,435				95				-				3,530				6,918				629,018				639,466				6,918
Residential real estate lines			370				47				-				417				253				71,638				72,308				253
Consumer indirect			12,734				2,219				-				14,953				3,157				801,006				819,116				3,157
Other consumer			109				135				35				279				19				42,529				42,827				19
Total loans, gross		$	17,197			$	4,790			$	43			$	22,030			$	41,363			$	4,378,086			$	4,441,479			$	35,361

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 March 31, 2025 (in thousands):


		Term Extension
		Amortized Cost Basis				% of Total Loans
Loan Type
Commercial business		$	—				0.0	%
Commercial mortgage–construction			—				0.0	%
Commercial mortgage–multifamily			—				0.0	%
Commercial mortgage–non-owner occupied			—				0.0	%
Commercial mortgage–owner occupied			—				0.0	%
Residential real estate loans			2,069				0.1	%
Residential real estate lines			—				0.0	%
Consumer indirect			—				0.0	%
Other consumer			—				0.0	%
Total		$	2,069				0.1	%

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 loan, which reduced the 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 in the three months ended March 31, 2025 (in thousands):


		Payment Status (Amortized Cost Basis)
		Current				30-89 Days Past Due				90+ Days Past Due
Loan Type
Commercial business		$	—			$	—			$	—
Commercial mortgage–construction			—				—				—
Commercial mortgage–multifamily			—				—				—
Commercial mortgage–non-owner occupied			—				—				—
Commercial mortgage–owner occupied			—				—				—
Residential real estate loans			1,131				220				718
Residential real estate lines			—				—				—
Consumer indirect			—				—				—
Other consumer			—				—				—
Total		$	1,131			$	220			$	718

(4.) LOANS (Continued)

Summary of Collateral Dependent Loans

The following table presents the amortized cost basis of collateral dependent loans by collateral type as of March 31, 2025 and December 31, 2024 (in thousands):


		Collateral type
		Business assets				Real property				Total				Specific Reserve

March 31, 2025
Commercial business		$	5,995			$	9,000			$	14,995			$	2,188
Commercial mortgage–construction			—				15,684				15,684				224
Commercial mortgage–multifamily			—				—				—				—
Commercial mortgage–non-owner occupied			—				17,759				17,759				1,259
Commercial mortgage–owner occupied			—				702				702				—
Total		$	5,995			$	43,145			$	49,140			$	3,671

December 31, 2024
Commercial business		$	5,860			$	5,000			$	10,860			$	2,073
Commercial mortgage–construction			—				29,792				29,792				820
Commercial mortgage–multifamily			—				—				—				—
Commercial mortgage–non-owner occupied			—				17,767				17,767				—
Commercial mortgage–owner occupied			—				720				720				—
Total		$	5,860			$	53,279			$	59,139			$	2,893

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
		2025				2024				2023				2022				2021				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
March 31, 2025
Commercial business:
Uncriticized		$	41,526			$	114,920			$	94,666			$	59,338			$	42,342			$	38,381			$	285,253			$	—			$	676,426
Special mention			10				2,218				4,922				277				49				1,574				8,926				—				17,976
Substandard			—				161				844				17				17				173				7,872				—				9,084
Doubtful			—				—				—				5,040				21				172				382				—				5,615
Total		$	41,536			$	117,299			$	100,432			$	64,672			$	42,429			$	40,300			$	302,433			$	—			$	709,101
Current period gross write-offs		$	—			$	—			$	—			$	—			$	14			$	125			$	—			$	—			$	139

Commercial mortgage–construction
Uncriticized		$	5,782			$	60,520			$	190,361			$	281,659			$	—			$	6,023			$	—			$	—			$	544,345
Special mention			—				—				—				—				2,330				—				—				—				2,330
Substandard			—				—				—				—				—				—				—				—				—
Doubtful			—				—				224				—				19,460				—				—				—				19,684
Total		$	5,782			$	60,520			$	190,585			$	281,659			$	21,790			$	6,023			$	—			$	—			$	566,359
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial mortgage–multifamily
Uncriticized		$	5,980			$	27,096			$	105,706			$	49,177			$	142,693			$	127,014			$	—			$	—			$	457,666
Special mention			—				—				—				4,321				—				12,990				—				—				17,311
Substandard			—				—				—				—				—				890				—				—				890
Doubtful			—				—				—				—				—				—				—				—				—
Total		$	5,980			$	27,096			$	105,706			$	53,498			$	142,693			$	140,894			$	—			$	—			$	475,867
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial mortgage–non-owner occupied
Uncriticized		$	44,766			$	84,099			$	66,078			$	250,161			$	98,249			$	325,955			$	—			$	—			$	869,308
Special mention			—				—				—				—				4,655				7,750				—				—				12,405
Substandard			—				—				12,994				—				206				—				—				—				13,200
Doubtful			—				—				—				286				—				4,480				—				—				4,766
Total		$	44,766			$	84,099			$	79,072			$	250,447			$	103,110			$	338,185			$	—			$	—			$	899,679
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial mortgage–owner occupied
Uncriticized		$	837			$	68,016			$	40,585			$	47,957			$	33,607			$	92,262			$	—			$	—			$	283,264
Special mention			—				—				—				448				—				1,211				—				—				1,659
Substandard			—				—				—				219				—				900				—				—				1,119
Doubtful			—				—				—				—				—				349				—				—				349
Total		$	837			$	68,016			$	40,585			$	48,624			$	33,607			$	94,722			$	—			$	—			$	286,391
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

(4.) LOANS (Continued)


		Term Loans Amortized Cost Basis by Origination Year
		2024				2023				2022				2021				2020				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2024
Commercial business:
Uncriticized		$	121,094			$	90,618			$	69,669			$	43,566			$	20,745			$	19,409			$	267,186			$	-			$	632,287
Special mention			2,218				4,814				297				57				8				1,678				9,297				-				18,369
Substandard			169				937				20				19				22				184				7,789				-				9,140
Doubtful			-				-				5,039				21				-				172				293				-				5,525
Total		$	123,481			$	96,369			$	75,025			$	43,663			$	20,775			$	21,443			$	284,565			$	-			$	665,321
Current period gross write-offs		$	-			$	5			$	-			$	20			$	-			$	274			$	-			$	-			$	299

Commercial mortgage–construction
Uncriticized		$	52,470			$	175,559			$	311,182			$	3,753			$	341			$	6,516			$	-			$	-			$	549,821
Special mention			-				-				722				2,284				-				-				-				-				3,006
Substandard			-				-				-				-				-				9,512				-				-				9,512
Doubtful			-				820				-				19,460				-				-				-				-				20,280
Total		$	52,470			$	176,379			$	311,904			$	25,497			$	341			$	16,028			$	-			$	-			$	582,619
Current period gross write-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

Commercial mortgage–multifamily
Uncriticized		$	26,339			$	105,838			$	43,924			$	143,994			$	65,206			$	67,715			$	-			$	-			$	453,016
Special mention			-				-				3,625				-				6,825				6,234				-				-				16,684
Substandard			-				-				-				-				463				791				-				-				1,254
Doubtful			-				-				-				-				-				-				-				-				-
Total		$	26,339			$	105,838			$	47,549			$	143,994			$	72,494			$	74,740			$	-			$	-			$	470,954
Current period gross write-offs		$	-			$	-			$	-			$	13			$	-			$	-			$	-			$	-			$	13

Commercial mortgage–non-owner occupied
Uncriticized		$	83,677			$	66,338			$	245,618			$	99,175			$	82,368			$	250,316			$	-			$	-			$	827,492
Special mention			-				-				-				4,691				-				7,829				-				-				12,520
Substandard			-				12,994				-				208				-				-				-				-				13,202
Doubtful			-				-				293				-				-				4,480				-				-				4,773
Total		$	83,677			$	79,332			$	245,911			$	104,074			$	82,368			$	262,625			$	-			$	-			$	857,987
Current period gross write-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

Commercial mortgage–owner occupied
Uncriticized		$	67,060			$	41,274			$	48,517			$	34,049			$	43,528			$	50,967			$	-			$	-			$	285,395
Special mention			-				-				451				-				126				1,110				-				-				1,687
Substandard			-				-				224				-				366				10				-				-				600
Doubtful			-				-				-				-				-				354				-				-				354
Total		$	67,060			$	41,274			$	49,192			$	34,049			$	44,020			$	52,441			$	-			$	-			$	288,036
Current period gross write-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

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
		2025				2024				2023				2022				2021				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
March 31, 2025
Residential real estate loans:
Performing		$	7,278			$	55,394			$	109,236			$	74,207			$	72,467			$	319,366			$	—			$	—			$	637,948
Nonperforming			—				—				456				440				1,265				3,874				—				—				6,035
Total		$	7,278			$	55,394			$	109,692			$	74,647			$	73,732			$	323,240			$	—			$	—			$	643,983
Current period gross write-offs		$	—			$	—			$	—			$	—			$	49			$	16			$	—			$	—			$	65

Residential real estate lines:
Performing		$	—			$	—			$	—			$	—			$	—			$	—			$	70,401			$	4,052			$	74,453
Nonperforming			—				—				—				—				—				—				139				177				316
Total		$	—			$	—			$	—			$	—			$	—			$	—			$	70,540			$	4,229			$	74,769
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Consumer indirect:
Performing		$	91,991			$	203,478			$	168,101			$	210,863			$	129,711			$	46,115			$	—			$	—			$	850,259
Nonperforming			—				282				757				713				762				403				—				—				2,917
Total		$	91,991			$	203,760			$	168,858			$	211,576			$	130,473			$	46,518			$	—			$	—			$	853,176
Current period gross write-offs		$	—			$	534			$	971			$	1,887			$	957			$	479			$	—			$	—			$	4,828

Other consumer:
Performing		$	4,842			$	6,389			$	26,678			$	2,006			$	591			$	387			$	2,781			$	—			$	43,674
Nonperforming			—				7				225				—				—				2				45				—				279
Total		$	4,842			$	6,396			$	26,903			$	2,006			$	591			$	389			$	2,826			$	—			$	43,953
Current period gross write-offs		$	—			$	106			$	73			$	13			$	6			$	5			$	9			$	—			$	212


		Term Loans Amortized Cost Basis by Origination Year
		2024				2023				2022				2021				2020				Prior				Revolving Loans Amortized Cost Basis				Revolving Loans Converted to Term				Total
December 31, 2024
Residential real estate loans:
Performing		$	54,345			$	110,882			$	75,264			$	73,754			$	99,943			$	229,100			$	-			$	-			$	643,288
Nonperforming			-				658				625				1,410				1,436				2,789				-				-				6,918
Total		$	54,345			$	111,540			$	75,889			$	75,164			$	101,379			$	231,889			$	-			$	-			$	650,206
Current period gross write-offs		$	-			$	-			$	-			$	-			$	-			$	109			$	-			$	-			$	109

Residential real estate lines:
Performing		$	-			$	-			$	-			$	-			$	-			$	-			$	71,059			$	4,240			$	75,299
Nonperforming			-				-				-				-				-				-				74				179				253
Total		$	-			$	-			$	-			$	-			$	-			$	-			$	71,133			$	4,419			$	75,552
Current period gross write-offs		$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-			$	-

Consumer indirect:
Performing		$	215,964			$	183,917			$	235,262			$	149,499			$	41,773			$	16,200			$	-			$	-			$	842,615
Nonperforming			262				482				1,130				694				351				238				-				-				3,157
Total		$	216,226			$	184,399			$	236,392			$	150,193			$	42,124			$	16,438			$	-			$	-			$	845,772
Current period gross write-offs		$	361			$	4,814			$	5,964			$	4,621			$	1,708			$	1,511			$	-			$	-			$	18,979

Other consumer:
Performing		$	7,482			$	28,777			$	2,316			$	729			$	281			$	242			$	2,876			$	-			$	42,703
Nonperforming			3				2				1				6				1				-				41				-				54
Total		$	7,485			$	28,779			$	2,317			$	735			$	282			$	242			$	2,917			$	-			$	42,757
Current period gross write-offs		$	527			$	129			$	124			$	33			$	27			$	11			$	92			$	-			$	943

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, 2025 and 2024 (in thousands):


						Commercial Mortgage																Residential Real Estate
		Commercial Business				Construction				Multi- family				Non-Owner Occupied				Owner Occupied				Loans				Lines				Consumer Indirect				Other Consumer				Total
Three months ended March 31, 2025
Allowance for credit losses–loans:
Beginning balance		$	8,665			$	6,824			$	3,458			$	7,330			$	4,183			$	3,596			$	793			$	12,705			$	487			$	48,041
Charge-offs			(139	)			—				—				—				—				(65	)			—				(4,828	)			(212	)			(5,244	)
Recoveries			82				—				—				1				1				24				—				2,679				88				2,875
(Benefit) provision			(987	)			(1,512	)			652				2,378				(171	)			1,307				156				1,242				227				3,292
Ending balance		$	7,621			$	5,312			$	4,110			$	9,709			$	4,013			$	4,862			$	949			$	11,798			$	590			$	48,964

						Commercial Mortgage																Residential Real Estate
		Commercial Business				Construction				Multi- family				Non-Owner Occupied				Owner Occupied				Loans				Lines				Consumer Indirect				Other Consumer				Total
Three months ended March 31, 2024
Allowance for credit losses–loans:
Beginning balance		$	13,102			$	3,710			$	4,009			$	6,074			$	2,065			$	5,286			$	764			$	14,099			$	1,973			$	51,082
Charge-offs			(17	)			—				—				—				—				(8	)			—				(6,217	)			(269	)			(6,511	)
Recoveries			54				—				—				1				—				4				—				3,244				87				3,390
Provision			(148	)			(117	)			(850	)			(529	)			(250	)			(652	)			30				(1,272	)			(1,098	)			(4,886	)
Ending balance		$	12,991			$	3,593			$	3,159			$	5,546			$	1,815			$	4,630			$	794			$	9,854			$	693			$	43,075