v3.22.0.1
Portfolio Loans Receivable (Tables)
 12 Months Ended
Dec. 31, 2021
Receivables [Abstract]  
Schedule of Loans Receivable Major categories of portfolio loans are as follows:
December 31,
(in thousands)20212020
Real estate:
Residential$401,607 $437,860 
Commercial556,339 392,550 
Construction255,147 224,904 
Commercial175,956 157,127 
Credit card, net of reserve141,120 102,186 
Other consumer1,033 1,649 
1,531,202 1,316,276 
Deferred origination fees, net(7,220)(774)
Allowance for loan losses(25,181)(23,434)
Portfolio loans receivable, net$1,498,801 $1,292,068 
Schedule Of Activity In Accretable Discounts On Loans Acquired
The activity in the accretable discounts on loans acquired was as follows:
December 31,
(in thousands)20212020
Accretable discount at beginning of period$221 $429 
Accretion and payoff of loans(55)(208)
Accretable discount at end of period$166 $221 
Schedule of Allowance for Credit Losses on Loans Receivables The following tables present, by class and reserving methodology, the allocation of the allowance for loan losses and the gross investment in loans as of December 31, 2021 and 2020.
(in thousands)Provision for
Loan Losses		Allowance for Loan Losses
Ending Balance Evaluated
for Impairment:		Outstanding Loan
Balances Evaluated
for Impairment:
December 31, 2021Beginning
Balance		Charge-OffsRecoveriesEnding
Balance		IndividuallyCollectivelyIndividuallyCollectively
Real estate:
Residential$7,153 $(1,541)$— $— $5,612 $— $5,612 $2,835 $398,772 
Commercial6,786 1,941 (161)— 8,566 — 8,566 25 556,314 
Construction4,595 103 — 1 4,699 — 4,699 7,803 247,344 
Commercial2,417 253 (39)6 2,637 218 2,419 676 175,280 
Credit card (1)
2,462 2,612 (1,454)35 3,655 — 3,655 — 141,120 
Other consumer
21 (9)— — 12 — 12 — 1,033 
$23,434 $3,359 $(1,654)$42 $25,181 $218 $24,963 $11,339 $1,519,863 
December 31, 2020
Real estate:
Residential$4,135 $3,018 $— $— $7,153 $— $7,153 $4,687 $433,173 
Commercial3,572 3,214 — — 6,786 — 6,786 2,358 390,192 
Construction2,668 2,216 (296)7 4,595 — 4,595 1,736 223,168 
Commercial1,548 1,102 (233)— 2,417 253 2,164 1,182 155,945 
Credit card (1)
1,368 1,681 (637)50 2,462 — 2,462 — 102,186 
Other consumer10 11 — — 21 — 21 — 1,649 
$13,301 $11,242 $(1,166)$57 $23,434 $253 $23,181 $9,963 $1,306,313 
_______________
(1) Credit cards loans are collectively evaluated by past due status and as such are not individually risk rated.
Schedule of Past Due Loans Receivables
Past due portfolio loans, segregated by delinquency and class of loans, as of December 31, 2021 and 2020 were as follows:
Loans
30-89 Days
Past Due		Loans
90 or More
Days
Past Due		Total
Past Due
Loans		Current
Loans		Total
Loans		Accruing
Loans 90 or
More days
Past Due		Nonaccrual
Loans
(in thousands)
December 31, 2021
Real estate:
Residential$469 $2,494 $2,963 $398,644 $401,607 $72 $2,835 
Commercial367 25 392 555,947 556,339 — 25 
Construction— 7,803 7,803 247,344 255,147 — 7,803 
Commercial183 593 776 175,180 175,956 — 676 
Credit card19,022 10 19,032 122,088 141,120 10 — 
Other consumer— — — 1,033 1,033 — — 
$20,041 $10,925 $30,966 $1,500,236 $1,531,202 $82 $11,339 
December 31, 2020
Real estate:
Residential$1,029 $3,539 $4,568 $433,292 $437,860 $— $3,581 
Commercial36 2,583 2,619 389,931 392,550 225 2,358 
Construction1,444 442 1,886 223,018 224,904 — 1,886 
Commercial486 741 1,227 155,900 157,127 — 1,182 
Credit card13,811 6 13,817 88,369 102,186 6 — 
Other consumer— — — 1,649 1,649 — — 
$16,806 $7,311 $24,117 $1,292,159 $1,316,276 $231 $9,007 
Schedule of Impaired Loans Receivables
Impaired loans also include acquired loans for which management has recorded a nonaccretable discount. Impaired loans as of December 31, 2021 and 2020 were as follows:
Unpaid
Contractual
Principal
Balance		Recorded
Investment
with no
Allowance		Recorded
Investment
with
Allowance		Total
Recorded
Investment		Related
Allowance		Average
Recorded
Investment		Interest
Recognized
(in thousands)
December 31, 2021
Real estate
   Residential$3,022 $2,835 $— $2,835 $— $4,578 $345 
   Commercial90 25 — 25 — 90 82 
   Construction7,885 7,803 — 7,803 — 9,746 209 
Commercial832 340 336 676 218 1,056 282 
$11,829 $11,003 $336 $11,339 $218 $15,470 $918 
December 31, 2020
Real estate
   Residential$3,960 $3,726 $— $3,726 $— $3,982 $136 
   Commercial2,490 2,358 — 2,358 — 2,519 46 
Construction1,996 1,886 — 1,886 — 1,809 15 
Commercial1,344 791 391 1,182 253 1,826 58 
$9,790 $8,761 $391 $9,152 $253 $10,136 $255 
Schedule of Loans Receivables Credit Quality Indicators
The following table presents the balances of classified loans based on the risk grade. The Company grades all credit cards loans as Pass. Classified loans include Special Mention, Substandard, and Doubtful loans:
(in thousands)
Pass(1)
Special MentionSubstandardDoubtfulTotal
December 31, 2021
Real estate:
Residential
$394,488 $2,540 $4,579 $— $401,607 
Commercial
548,244 8,070 25 — 556,339 
Construction
243,848 3,496 7,803 — 255,147 
Commercial164,066 10,417 1,473 — 175,956 
Credit card141,120 — — — 141,120 
Other consumer1,033 — — — 1,033 
Total$1,492,799 $24,523 $13,880 $— $1,531,202 
December 31, 2020
Real estate:
Residential
$428,260 $5,150 $4,450 $— $437,860 
Commercial
383,311 6,881 2,358 — 392,550 
Construction
220,057 1,112 3,735 — 224,904 
Commercial145,365 9,766 1,996 — 157,127 
Credit card102,186 — — — 102,186 
Other consumer1,649 — — — 1,649 
Total$1,280,828 $22,909 $12,539 $— $1,316,276 
________________________
(1) Pass includes loans graded exceptional, very good, good, satisfactory and pass/watch, in addition to credit card loans which are not individually graded.
Schedule of Troubled Debt Restructurings on Loans Receivables The status of TDRs is as follows:
Number of
Contracts		Recorded Investment
(dollars in thousands)PerformingNonperformingTotal
December 31, 2021
Real estate:
Residential
4 $— $450 $450 
Commercial1 — 83 83 
Total5 $— $533 $533 
December 31, 2020
Real estate:
Residential
3 $— $145 $145 
Commercial2 — 294 294 
Total5 $— $439 $439 
Schedule Of Outstanding Loan Commitments
Outstanding loan commitments were as follows:
December 31,
(in thousands)20212020
Unused lines of credit
Commercial$15,747 $15,973 
Commercial real estate37,640 32,398 
Residential real estate17,225 20,848 
Home equity118,518 118,843 
Commercial and industrial45,135 50,877 
Credit card(1)
123,874 92,452 
Personal2,247 185 
$360,386 $331,576 
Commitments to originate residential loans held for sale$1,385 $11,444 
Letters of credit$5,105 $5,102 
_______________
(1) Outstanding loan commitments in the credit card portfolio include $98.2 million and $89.5 million in secured balances as of December 31, 2021 and 2020, respectively.
Schedule of Credit Losses for Financing Receivables
The Company maintains a reserve for off-balance sheet items such as unfunded lines of credit. Activity for this account is as follows:
(in thousands)20212020
Balance at beginning of period$1,776 $1,226 
Provision expense (release)(40)550 
Add: Recoveries— — 
Less: Charge-offs— — 
Balance at end of period$1,736 $1,776 
The Company makes representations and warranties that loans sold to investors meet their program's guidelines and that the information provided by the borrowers is accurate and complete. In the event of a default on a loan sold, the investor may make a claim for losses due to document deficiencies, program non-compliance, early payment default, and fraud or borrower misrepresentations.
The Company maintains a reserve for potential losses on mortgage loans sold. Activity in this reserve is as follows for the periods presented:
(in thousands)20212020
Balance at beginning of period$1,160 $576 
Add: Provision 4 598 
Add: Recoveries— — 
Less: Charge-offs— (14)
Balance at end of period$1,164 $1,160