XML 38 R30.htm IDEA: XBRL DOCUMENT

Loans (Tables)

6 Months Ended

Jun. 30, 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
June 30, 2025
Commercial business		$	725,691			$	527			$	726,218
Commercial mortgage–construction			538,722				(2,170	)			536,552
Commercial mortgage–multifamily			496,832				(609	)			496,223
Commercial mortgage–non-owner occupied			874,304				(1,097	)			873,207
Commercial mortgage–owner occupied			309,184				(13	)			309,171
Residential real estate loans			637,342				9,863				647,205
Residential real estate lines			72,452				3,223				75,675
Consumer indirect			807,798				25,654				833,452
Other consumer			38,366				(67	)			38,299
Total		$	4,500,691			$	35,311				4,536,002
Allowance for credit losses–loans											(47,291	)
Total loans, net										$	4,488,711
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
June 30, 2025
Commercial business		$	267			$	5,495			$	—			$	5,762			$	3,671			$	716,258			$	725,691			$	324
Commercial mortgage–construction			—				2,377				—				2,377				19,621				516,724				538,722				19,460
Commercial mortgage–multifamily			—				—				—				—				—				496,832				496,832				—
Commercial mortgage–non-owner occupied			—				—				—				—				164				874,140				874,304				164
Commercial mortgage–owner occupied			231				—				—				231				—				308,953				309,184				—
Residential real estate loans			2,261				—				—				2,261				5,885				629,196				637,342				5,885
Residential real estate lines			80				10				—				90				299				72,063				72,452				299
Consumer indirect			7,178				1,484				—				8,662				2,571				796,565				807,798				2,571
Other consumer			371				8				34				413				191				37,762				38,366				191
Total loans, gross		$	10,388			$	9,374			$	34			$	19,796			$	32,402			$	4,448,493			$	4,500,691			$	28,894
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, for the following periods (in thousands):


		Term Extension
		Three months ended June 30,								Six months ended June 30,
		2025				2024				2025				2024
Loan Type
Commercial business		$	—			$	—			$	—			$	—
Commercial mortgage–construction			—				—				—				—
Commercial mortgage–multifamily			—				—				—				—
Commercial mortgage–non-owner occupied			—				—				—				—
Commercial mortgage–owner occupied			—				—				—				—
Residential real estate loans			317				295				686				449
Residential real estate lines			—				—				—				—
Consumer indirect			—				—				—				—
Other consumer			—				—				—				—
Total		$	317			$	295			$	686			$	449

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 during the three and six months ended June 30, 2025 and 2024:


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 twelve months ended June 30, 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			546				140				323
Residential real estate lines			—				—				—
Consumer indirect			—				—				—
Other consumer			—				—				—
Total		$	546			$	140			$	323

(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 June 30, 2025 and December 31, 2024 (in thousands):


		Collateral type
		Business assets				Real property				Total				Specific Reserve

June 30, 2025
Commercial business		$	5,777			$	3,230			$	9,007			$	3,039
Commercial mortgage–construction			—				19,621				19,621				161
Commercial mortgage–multifamily			—				4,452				4,452				—
Commercial mortgage–non-owner occupied			—				12,994				12,994				—
Commercial mortgage–owner occupied			—				512				512				—
Total		$	5,777			$	40,809			$	46,586			$	3,200

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
June 30, 2025
Commercial business:
Uncriticized		$	72,487			$	114,796			$	87,416			$	59,276			$	40,254			$	29,072			$	295,907			$	—			$	699,208
Special mention			40				2,323				3,660				—				16				2,585				7,364				—				15,988
Substandard			—				156				343				9				—				173				6,698				—				7,379
Doubtful			—				—				—				3,113				21				172				337				—				3,643
Total		$	72,527			$	117,275			$	91,419			$	62,398			$	40,291			$	32,002			$	310,306			$	—			$	726,218
Current period gross write-offs		$	—			$	—			$	—			$	1,932			$	14			$	129			$	—			$	—			$	2,075

Commercial mortgage–construction
Uncriticized		$	11,301			$	82,325			$	172,695			$	232,896			$	—			$	5,829			$	—			$	—			$	505,046
Special mention			—				—				6,240				3,268				2,377				—				—				—				11,885
Substandard			—				—				—				—				—				—				—				—				—
Doubtful			—				—				173				—				19,448				—				—				—				19,621
Total		$	11,301			$	82,325			$	179,108			$	236,164			$	21,825			$	5,829			$	—			$	—			$	536,552
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial mortgage–multifamily
Uncriticized		$	37,821			$	25,279			$	104,571			$	55,952			$	140,216			$	119,664			$	—			$	—			$	483,503
Special mention			—				—				—				320				—				7,867				—				—				8,187
Substandard			—				—				—				4,223				—				310				—				—				4,533
Doubtful			—				—				—				—				—				—				—				—				—
Total		$	37,821			$	25,279			$	104,571			$	60,495			$	140,216			$	127,841			$	—			$	—			$	496,223
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	—

Commercial mortgage–non-owner occupied
Uncriticized		$	67,477			$	80,600			$	67,159			$	238,774			$	91,416			$	304,025			$	—			$	—			$	849,451
Special mention			—				—				—				—				4,619				5,738				—				—				10,357
Substandard			—				—				12,994				328				—				77				—				—				13,399
Doubtful			—				—				—				—				—				—				—				—				—
Total		$	67,477			$	80,600			$	80,153			$	239,102			$	96,035			$	309,840			$	—			$	—			$	873,207
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	597			$	—			$	—			$	597

Commercial mortgage–owner occupied
Uncriticized		$	11,015			$	68,195			$	24,027			$	64,368			$	39,076			$	98,987			$	—			$	—			$	305,668
Special mention			—				—				—				—				—				2,256				—				—				2,256
Substandard			—				—				—				—				205				878				—				—				1,083
Doubtful			—				—				—				—				—				164				—				—				164
Total		$	11,015			$	68,195			$	24,027			$	64,368			$	39,281			$	102,285			$	—			$	—			$	309,171
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
June 30, 2025
Residential real estate loans:
Performing		$	22,680			$	57,367			$	106,461			$	73,081			$	70,826			$	310,905			$	—			$	—			$	641,320
Nonperforming			—				112				514				506				1,005				3,748				—				—				5,885
Total		$	22,680			$	57,479			$	106,975			$	73,587			$	71,831			$	314,653			$	—			$	—			$	647,205
Current period gross write-offs		$	—			$	—			$	17			$	—			$	129			$	16			$	—			$	—			$	162

Residential real estate lines:
Performing		$	—			$	—			$	—			$	—			$	—			$	—			$	71,496			$	3,880			$	75,376
Nonperforming			—				—				—				—				—				—				141				158				299
Total		$	—			$	—			$	—			$	—			$	—			$	—			$	71,637			$	4,038			$	75,675
Current period gross write-offs		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	27			$	27

Consumer indirect:
Performing		$	158,095			$	187,733			$	151,811			$	185,473			$	111,617			$	36,152			$	—			$	—			$	830,881
Nonperforming			75				313				570				816				506				291				—				—				2,571
Total		$	158,170			$	188,046			$	152,381			$	186,289			$	112,123			$	36,443			$	—			$	—			$	833,452
Current period gross write-offs		$	17			$	1,095			$	1,915			$	3,163			$	1,918			$	869			$	—			$	—			$	8,977

Other consumer:
Performing		$	3,095			$	5,689			$	24,572			$	1,713			$	455			$	300			$	2,250			$	—			$	38,074
Nonperforming			—				10				171				7				—				—				37				—				225
Total		$	3,095			$	5,699			$	24,743			$	1,720			$	455			$	300			$	2,287			$	—			$	38,299
Current period gross write-offs		$	175			$	87			$	414			$	29			$	11			$	11			$	26			$	—			$	753


		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 and six months ended June 30, 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 June 30, 2025
Allowance for credit losses–loans:
Beginning balance		$	7,621			$	5,312			$	4,110			$	9,709			$	4,013			$	4,862			$	949			$	11,798			$	590			$	48,964
Charge-offs			(1,936	)			—				—				(597	)			—				(97	)			(27	)			(4,149	)			(541	)			(7,347	)
Recoveries			33				—				—				1				1				5				—				3,207				50				3,297
(Benefit) provision			3,278				(798	)			(180	)			(245	)			(927	)			(132	)			47				927				407				2,377
Ending balance		$	8,996			$	4,514			$	3,930			$	8,868			$	3,087			$	4,638			$	969			$	11,783			$	506			$	47,291

Six months ended June 30, 2025
Beginning balance		$	8,665			$	6,824			$	3,458			$	7,330			$	4,183			$	3,596			$	793			$	12,705			$	487			$	48,041
Charge-offs			(2,075	)			—				—				(597	)			—				(162	)			(27	)			(8,977	)			(753	)			(12,591	)
Recoveries			115				—				—				2				2				29				—				5,886				138				6,172
(Benefit) provision			2,291				(2,310	)			472				2,133				(1,098	)			1,175				203				2,169				634				5,669
Ending balance		$	8,996			$	4,514			$	3,930			$	8,868			$	3,087			$	4,638			$	969			$	11,783			$	506			$	47,291

						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 June 30, 2024
Allowance for credit losses–loans:
Beginning balance		$	12,991			$	3,593			$	3,159			$	5,546			$	1,815			$	4,630			$	794			$	9,854			$	693			$	43,075
Charge-offs			(53	)			—				—				—				—				(99	)			—				(3,746	)			(311	)			(4,209	)
Recoveries			46				—				—				2				1				3				—				2,902				133				3,087
Provision			(738	)			117				850				532				(250	)			(323	)			(25	)			1,832				4				1,999
Ending balance		$	12,246			$	3,710			$	4,009			$	6,080			$	1,566			$	4,211			$	769			$	10,842			$	519			$	43,952
Six months ended June 30, 2024
Beginning balance		$	13,102				3,710				4,009				6,074				2,065			$	5,286			$	764			$	14,099			$	1,973				51,082
Charge-offs			(70	)			—				—				—				—				(107	)			—				(9,963	)			(580	)			(10,720	)
Recoveries			100				—				—				3				1				7				—				6,146				220				6,477
Provision (benefit)			(886	)			—				—				3				(500	)			(975	)			5				560				(1,094	)			(2,887	)
Ending balance		$	12,246			$	3,710			$	4,009			$	6,080			$	1,566			$	4,211			$	769			$	10,842			$	519			$	43,952