v3.25.3

Portfolio Loans Receivable and Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2025
Receivables [Abstract] |
Schedule of Major Categories of Total Loans Outstanding | The following is a summary of the major categories of total loans outstanding:
|  | September 30, 2025 |  | December 31, 2024
(in thousands) |  | Amount |  | Percent |  | Amount |  | Percent
Real estate: |  |  |  |  |  |  |  |
Residential |  | $ | 740,060 |  |  | 26 | % |  | $ | 688,552 |  |  | 26 | %
Commercial |  | 987,519 |  |  | 35 |  |  | 943,019 |  |  | 36 |
Construction |  | 344,290 |  |  | 12 |  |  | 321,252 |  |  | 12 |
Commercial and Industrial |  | 619,148 |  |  | 22 |  |  | 554,550 |  |  | 21 |
Credit card, net of reserve(1) |  | 136,483 |  |  | 5 |  |  | 127,766 |  |  | 5 |
Other consumer |  | 2,010 |  |  | — |  |  | 2,089 |  |  | — |
Portfolio loans receivable, gross |  | 2,829,510 |  |  | 100 | % |  | 2,637,228 |  |  | 100 | %
Deferred origination fees, net |  | (7,527) |  |  |  |  | (7,065) |  |  |
Allowance for credit losses |  | (53,045) |  |  |  |  | (48,652) |  |  |
Portfolio loans receivable, net |  | $ | 2,768,938 |  |  |  |  | $ | 2,581,511 |  |  |
_____________ (1) Credit card loans are presented net of reserve for interest and fees.
Schedule of Changes in Allowance for Credit Losses by Loan Segment Class | The following tables set forth the changes in the ACL by loan segment class for the three and nine months ended September 30, 2025 and September 30, 2024. The ACL on loans at September 30, 2025 included $3.4 million on acquired purchased credit deteriorated (“PCD”) loans established as a measurement period adjustment to the Day 1 purchase accounting.
(in thousands) |  | Beginning Balance |  | Measurement Period Adjustment for Acquired PCD Loans |  | Provision (Release of Provision) for Credit Losses |  | Charge-Offs |  | Recoveries |  | Ending Balance
Three Months Ended September 30, 2025 |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 6,772 |  |  | $ | — |  |  | $ | 249 |  |  | $ | — |  |  | $ | 7 |  |  | $ | 7,028 |
Commercial |  | 14,262 |  |  | — |  |  | 603 |  |  | — |  |  | — |  |  | 14,865 |
Construction |  | 3,410 |  |  | — |  |  | 321 |  |  | — |  |  | — |  |  | 3,731 |
Commercial and Industrial |  | 16,249 |  |  | 3,424 |  |  | 680 |  |  | (336) |  |  | — |  |  | 20,017 |
Credit card |  | 6,749 |  |  | — |  |  | 2,797 |  |  | (2,156) |  |  | 9 |  |  | 7,399 |
Other consumer |  | 5 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 5 |
Total |  | $ | 47,447 |  |  | $ | 3,424 |  |  | $ | 4,650 |  |  | $ | (2,492) |  |  | $ | 16 |  |  | $ | 53,045 |
Nine Months Ended September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 6,945 |  |  | $ | — |  |  | $ | 76 |  |  | $ | (1) |  |  | $ | 8 |  |  | $ | 7,028 |
Commercial |  | 16,041 |  |  | — |  |  | 519 |  |  | (1,695) |  |  | — |  |  | 14,865 |
Construction |  | 2,973 |  |  | — |  |  | 1,022 |  |  | (264) |  |  | — |  |  | 3,731 |
Commercial and Industrial |  | 16,377 |  |  | 3,424 |  |  | 1,764 |  |  | (1,597) |  |  | 49 |  |  | 20,017 |
Credit card |  | 6,301 |  |  | — |  |  | 7,606 |  |  | (6,524) |  |  | 16 |  |  | 7,399 |
Other consumer |  | 15 |  |  | — |  |  | (10) |  |  | — |  |  | — |  |  | 5 |
Total |  | $ | 48,652 |  |  | $ | 3,424 |  |  | $ | 10,977 |  |  | $ | (10,081) |  |  | $ | 73 |  |  | $ | 53,045 |
(in thousands) |  | Beginning Balance |  |  |  |  |  | Provision (Release of Provision) for Credit Losses |  | Charge-Offs |  | Recoveries |  | Ending Balance
Three Months Ended September 30, 2024 |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 5,999 |  |  |  |  |  |  | $ | (21) |  |  | $ | 4 |  |  | $ | — |  |  | $ | 5,982 |
Commercial |  | 11,682 |  |  |  |  |  |  | 593 |  |  | (570) |  |  | — |  |  | 11,705 |
Construction |  | 2,299 |  |  |  |  |  |  | 305 |  |  | — |  |  | — |  |  | 2,604 |
Commercial and Industrial |  | 4,076 |  |  |  |  |  |  | 577 |  |  | (368) |  |  | 2 |  |  | 4,287 |
Credit card |  | 6,758 |  |  |  |  |  |  | 2,294 |  |  | (1,727) |  |  | 4 |  |  | 7,329 |
Other consumer |  | 18 |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | 18 |
Total |  | $ | 30,832 |  |  |  |  |  |  | $ | 3,748 |  |  | $ | (2,661) |  |  | $ | 6 |  |  | $ | 31,925 |
Nine Months Ended September 30, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 5,518 |  |  |  |  |  |  | $ | 1,094 |  |  | $ | (630) |  |  | $ | — |  |  | $ | 5,982 |
Commercial |  | 10,316 |  |  |  |  |  |  | 1,959 |  |  | (570) |  |  | — |  |  | 11,705 |
Construction |  | 2,271 |  |  |  |  |  |  | 333 |  |  | — |  |  | — |  |  | 2,604 |
Commercial and Industrial |  | 4,406 |  |  |  |  |  |  | 349 |  |  | (470) |  |  | 2 |  |  | 4,287 |
Credit card |  | 6,087 |  |  |  |  |  |  | 6,151 |  |  | (5,019) |  |  | 110 |  |  | 7,329 |
Other consumer |  | 12 |  |  |  |  |  |  | 6 |  |  | — |  |  | — |  |  | 18 |
Total |  | $ | 28,610 |  |  |  |  |  |  | $ | 9,892 |  |  | $ | (6,689) |  |  | $ | 112 |  |  | $ | 31,925 |
Schedule of Past Due Loans Segregated by Age and Class of Loans | Past due loans, segregated by age and class of loans, as of September 30, 2025 and December 31, 2024 were as follows:
Portfolio Loans Past Due |  |  |  |  |  |  |  |  |  |
|  | Loans 30-59 Days Past Due |  | Loans 60-89 Days Past Due |  | Loans 90 or More Days Past Due |  | Total Past Due Loans |  | Current Loans |  | Total Portfolio Loans |  | Accruing Loans 90 or More Days Past Due 1 |  | Nonaccrual Loans
(in thousands) |  |  |  |  |  |  |  |
September 30, 2025 |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 9,584 |  |  | $ | 2,541 |  |  | $ | 7,278 |  |  | $ | 19,403 |  |  | $ | 720,657 |  |  | $ | 740,060 |  |  | $ | 615 |  |  | $ | 6,551 |
Commercial |  | 20,590 |  |  | 401 |  |  | 13,320 |  |  | 34,311 |  |  | 953,208 |  |  | 987,519 |  |  | 23 |  |  | 16,687 |
Construction |  | 307 |  |  | 3,197 |  |  | 9,709 |  |  | 13,213 |  |  | 331,077 |  |  | 344,290 |  |  | 3,196 |  |  | 6,513 |
Commercial and Industrial |  | 2,376 |  |  | 13,345 |  |  | 15,248 |  |  | 30,969 |  |  | 588,179 |  |  | 619,148 |  |  | 361 |  |  | 22,496 |
Credit card |  | 7,436 |  |  | 6,477 |  |  | 1,881 |  |  | 15,794 |  |  | 120,689 |  |  | 136,483 |  |  | 1,881 |  |  | — |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,010 |  |  | 2,010 |  |  | — |  |  | — |
Total |  | $ | 40,293 |  |  | $ | 25,961 |  |  | $ | 47,436 |  |  | $ | 113,690 |  |  | $ | 2,715,820 |  |  | $ | 2,829,510 |  |  | $ | 6,076 |  |  | $ | 52,247 |
|  | Loans 30-59 Days Past Due |  | Loans 60-89 Days Past Due |  | Loans 90 or More Days Past Due |  | Total Past Due Loans |  | Current Loans |  | Total Portfolio Loans |  | Accruing Loans 90 or More Days Past Due |  | Nonaccrual Loans
December 31, 2024 |  |  |  |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 1,656 |  |  | $ | 4,913 |  |  | $ | 6,644 |  |  | $ | 13,213 |  |  | $ | 675,339 |  |  | $ | 688,552 |  |  | $ | — |  |  | $ | 8,652 |
Commercial |  | 4,957 |  |  | 7,570 |  |  | 7,001 |  |  | 19,528 |  |  | 923,491 |  |  | 943,019 |  |  | 100 |  |  | 14,312 |
Construction |  | 1,000 |  |  | 415 |  |  | 4,309 |  |  | 5,724 |  |  | 315,528 |  |  | 321,252 |  |  | — |  |  | 4,309 |
Commercial and Industrial |  | 10,981 |  |  | 1,245 |  |  | 1,049 |  |  | 13,275 |  |  | 541,275 |  |  | 554,550 |  |  | — |  |  | 2,968 |
Credit card |  | 6,923 |  |  | 6,561 |  |  | 1,544 |  |  | 15,028 |  |  | 112,738 |  |  | 127,766 |  |  | 1,544 |  |  | — |
Other consumer |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,089 |  |  | 2,089 |  |  | — |  |  | — |
Total |  | $ | 25,517 |  |  | $ | 20,704 |  |  | $ | 20,547 |  |  | $ | 66,768 |  |  | $ | 2,570,460 |  |  | $ | 2,637,228 |  |  | $ | 1,644 |  |  | $ | 30,241 |
1 Accruing Loans 90 or More Days Past Due are well-collateralized and in the process of collection. The balance includes a $3.2 million loan that was collected after September 30, 2025 and is now resolved.
Schedule of Nonaccrual Loans | The following presents the nonaccrual loans as of September 30, 2025 and December 31, 2024:
|  | September 30, 2025 |  |
|  | Nonaccrual with No Allowance for Credit Loss |  | Nonaccrual with an Allowance for Credit Loss |  | Total Nonaccrual Loans |  | Interest Recognized on Nonaccrual Loans |  |
(in thousands) |  |  |  |  |
Real estate: |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 6,543 |  |  | $ | 8 |  |  | $ | 6,551 |  |  | $ | 92 |  |  |
Commercial |  | 15,380 |  |  | 1,307 |  |  | 16,687 |  |  | 10 |  |  |
Construction |  | 6,513 |  |  | — |  |  | 6,513 |  |  | 490 |  |  |
Commercial and Industrial |  | 13,859 |  |  | 8,637 |  |  | 22,496 |  |  | 394 |  |  |
Total |  | $ | 42,295 |  |  | $ | 9,952 |  |  | $ | 52,247 |  |  | $ | 986 |  |  |
|  | December 31, 2024 |  |
|  | Nonaccrual with No Allowance for Credit Loss |  | Nonaccrual with an Allowance for Credit Loss |  | Total Nonaccrual Loans |  | Interest Recognized on Nonaccrual Loans |  |
Real estate: |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 8,055 |  |  | $ | 597 |  |  | $ | 8,652 |  |  | $ | 38 |  |  |
Commercial |  | 3,205 |  |  | 11,107 |  |  | 14,312 |  |  | 122 |  |  |
Construction |  | 4,309 |  |  | — |  |  | 4,309 |  |  | 144 |  |  |
Commercial and Industrial |  | 247 |  |  | 2,721 |  |  | 2,968 |  |  | 106 |  |  |
Total |  | $ | 15,816 |  |  | $ | 14,425 |  |  | $ | 30,241 |  |  | $ | 410 |  |  |
Collateral dependent loans amortized cost |  |  |  |
(in thousands) |  | September 30, 2025 |  | December 31, 2024
Real estate: |  |  |  |
Residential |  | $ | 6,657 |  |  | $ | 8,780 |
Commercial |  | 14,862 |  |  | 14,803 |
Construction |  | 5,232 |  |  | 4,301 |
Commercial and Industrial |  | 11,235 |  |  | 6,551 |
Total |  | $ | 37,986 |  |  | $ | 34,435 |
Schedule of Loan Modifications to Borrowers Experiencing Financial Difficulty | The Company made one loan modification on loans to borrowers experiencing financial difficulty during the nine months ended September 30, 2025 as follows:
Modifications |  |  |  |  |  |
(in thousands) |  | Amortized Cost Basis |  | % of Total Loan Type |  | Financial Effect
Real estate: |  |  |  |  |  |
Commercial and Industrial |  | 44 |  |  | 0.007 | % |  | Extended maturity date of one loan which reduced monthly payment amount for the borrower.
Total |  | $ | 44 |  |  |  |  |
The Company made four loan modifications on loans to borrowers experiencing financial difficulty during the nine months ended September 30, 2024 as follows:
Modifications |  |  |  |  |  |
(in thousands) |  | Amortized Cost Basis |  | % of Total Loan Type |  | Financial Effect
Real estate: |  |  |  |  |  |
Residential |  | $ | 760 |  |  | 0.199 | % |  | Added 1 year to the life of the loan which reduced monthly payment amount for the borrower; Reduced contractual interest rate from 8.375% to 6.375% on one loan.
Residential - Home Equity |  | 91 |  |  | 0.164 | % |  | Added 22 years to the life of the loan which reduced monthly payment amount for the borrower; Reduced contractual interest rate from 10.490% to 6.375% on one loan.
Commercial and Industrial |  | 112 |  |  | 0.044 | % |  | Provided 6 months payment deferral to borrower through the Bank’s standard deferral program on one loan; Reduced contractual interest rate from 11.250% to 6.000% on one loan.
Total |  | $ | 963 |  |  |  |  |
Schedule of Financing Receivable Modified Past Due | The following table presents the payment status of loans that have been modified in the last twelve months:
|  | September 30, 2025
|  |  |  | Past Due |  | Past Due |  |  |  |
(in thousands) |  | Current |  | 30-89 Days |  | 90 Days or More |  | Nonaccrual |  | Total
Real estate: |  |  |  |  |  |  |  |  |  |
Residential |  | $ | 44 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 44 |
Residential - Home Equity |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial |  | 524 |  |  | — |  |  | — |  |  | 890 |  |  | 1,414 |
Commercial and Industrial |  | 2,504 |  |  | — |  |  | — |  |  | — |  |  | 2,504 |
|  | $ | 3,072 |  |  | $ | — |  |  | $ | — |  |  | $ | 890 |  |  | $ | 3,962 |
Schedule of Loans by Credit Quality Indicators and Gross Charge-Offs | The following table presents the balances of classified loans based on the most recent credit quality indicator analysis. Classified loans include Special Mention, Substandard and Doubtful loans. Pass classified loans include loans graded exceptional, very good, good, satisfactory, and pass/watch. Credit card loans are ungraded as they are not individually graded. Charge-offs presented represent gross charge-offs recognized in the current period:
September 30, 2025 |  | Term Loans by Origination Year |  |  |  |
(in thousands) |  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving |  | Total
Residential – Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 163,768 |  |  | $ | 117,167 |  |  | $ | 104,384 |  |  | $ | 110,192 |  |  | $ | 67,743 |  |  | $ | 161,696 |  |  | $ | — |  |  | $ | 724,950 |
Special Mention |  | — |  |  | — |  |  | 1,991 |  |  | 2,030 |  |  | 1,232 |  |  | 3,567 |  |  | — |  |  | 8,820 |
Substandard |  | 580 |  |  | 287 |  |  | — |  |  | 33 |  |  | 322 |  |  | 5,068 |  |  | — |  |  | 6,290 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 164,348 |  |  | 117,454 |  |  | 106,375 |  |  | 112,255 |  |  | 69,297 |  |  | 170,331 |  |  | — |  |  | 740,060 |
Commercial – Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 126,825 |  |  | 222,560 |  |  | 57,351 |  |  | 128,644 |  |  | 130,560 |  |  | 249,602 |  |  | — |  |  | 915,542 |
Special Mention |  | — |  |  | — |  |  | 2,526 |  |  | 39,436 |  |  | 5,718 |  |  | 6,581 |  |  | — |  |  | 54,261 |
Substandard |  | — |  |  | — |  |  | 5,967 |  |  | 5,989 |  |  | 1,611 |  |  | 4,149 |  |  | — |  |  | 17,716 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 126,825 |  |  | 222,560 |  |  | 65,844 |  |  | 174,069 |  |  | 137,889 |  |  | 260,332 |  |  | — |  |  | 987,519 |
Construction – Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 65,799 |  |  | 110,579 |  |  | 84,932 |  |  | 44,504 |  |  | 11,615 |  |  | 17,680 |  |  | — |  |  | 335,109 |
Special Mention |  | — |  |  | — |  |  | 1,000 |  |  | — |  |  | 1,668 |  |  | — |  |  | — |  |  | 2,668 |
Substandard |  | — |  |  | — |  |  | 1,976 |  |  | — |  |  | 593 |  |  | 3,944 |  |  | — |  |  | 6,513 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 65,799 |  |  | 110,579 |  |  | 87,908 |  |  | 44,504 |  |  | 13,876 |  |  | 21,624 |  |  | — |  |  | 344,290 |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 133,635 |  |  | 149,007 |  |  | 98,043 |  |  | 94,645 |  |  | 35,890 |  |  | 71,822 |  |  | — |  |  | 583,042 |
Special Mention |  | — |  |  | 202 |  |  | 101 |  |  | 801 |  |  | 129 |  |  | 5,775 |  |  | — |  |  | 7,008 |
Substandard |  | 4,213 |  |  | 326 |  |  | 16,688 |  |  | 1,737 |  |  | 1,525 |  |  | 4,609 |  |  | — |  |  | 29,098 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 137,848 |  |  | 149,535 |  |  | 114,832 |  |  | 97,183 |  |  | 37,544 |  |  | 82,206 |  |  | — |  |  | 619,148 |
Other consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 598 |  |  | 1,176 |  |  | — |  |  | 52 |  |  | 54 |  |  | 130 |  |  | — |  |  | 2,010 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 598 |  |  | 1,176 |  |  | — |  |  | 52 |  |  | 54 |  |  | 130 |  |  | — |  |  | 2,010 |
Credit card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ungraded |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 136,483 |  |  | 136,483 |
Portfolio loans receivable, gross |  | $ | 495,418 |  |  | $ | 601,304 |  |  | $ | 374,959 |  |  | $ | 428,063 |  |  | $ | 258,660 |  |  | $ | 534,623 |  |  | $ | 136,483 |  |  | $ | 2,829,510 |
September 30, 2025 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | 2025 |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | Prior |  | Revolving |  | Total
Gross Charge-Offs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 1,695 |  |  | — |  |  | 1,695 |
Construction |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 264 |  |  | — |  |  | 264 |
Commercial and Industrial |  | — |  |  | 15 |  |  | 713 |  |  | 252 |  |  | 8 |  |  | 609 |  |  | — |  |  | 1,597 |
Credit card |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,522 |  |  | 6,522 |
Total |  | $ | — |  |  | $ | 15 |  |  | $ | 713 |  |  | $ | 252 |  |  | $ | 8 |  |  | $ | 2,568 |  |  | $ | 6,522 |  |  | $ | 10,078 |
December 31, 2024 |  | Term Loans by Origination Year |  |  |  |
(in thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving |  | Total
Residential – Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | $ | 155,867 |  |  | $ | 129,639 |  |  | $ | 122,203 |  |  | $ | 76,906 |  |  | $ | 69,647 |  |  | $ | 117,272 |  |  | $ | — |  |  | $ | 671,534 |
Special Mention |  | — |  |  | — |  |  | 2,065 |  |  | 1,242 |  |  | 3,604 |  |  | — |  |  | — |  |  | 6,911 |
Substandard |  | — |  |  | — |  |  | — |  |  | 3,422 |  |  | 189 |  |  | 6,496 |  |  | — |  |  | 10,107 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 155,867 |  |  | 129,639 |  |  | 124,268 |  |  | 81,570 |  |  | 73,440 |  |  | 123,768 |  |  | — |  |  | 688,552 |
Commercial – Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 235,929 |  |  | 61,372 |  |  | 170,611 |  |  | 146,642 |  |  | 92,038 |  |  | 207,631 |  |  | — |  |  | 914,223 |
Special Mention |  | — |  |  | 2,300 |  |  | 10,747 |  |  | 5,052 |  |  | — |  |  | 788 |  |  | — |  |  | 18,887 |
Substandard |  | — |  |  | — |  |  | 7,558 |  |  | — |  |  | 320 |  |  | 2,031 |  |  | — |  |  | 9,909 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 235,929 |  |  | 63,672 |  |  | 188,916 |  |  | 151,694 |  |  | 92,358 |  |  | 210,450 |  |  | — |  |  | 943,019 |
Construction – Real estate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 98,942 |  |  | 129,202 |  |  | 46,532 |  |  | 20,634 |  |  | 15,458 |  |  | 6,175 |  |  | — |  |  | 316,943 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,252 |  |  | 2,057 |  |  | — |  |  | 4,309 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 98,942 |  |  | 129,202 |  |  | 46,532 |  |  | 20,634 |  |  | 17,710 |  |  | 8,232 |  |  | — |  |  | 321,252 |
Commercial and Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 129,043 |  |  | 130,647 |  |  | 117,346 |  |  | 42,747 |  |  | 21,356 |  |  | 107,953 |  |  | — |  |  | 549,092 |
Special Mention |  | 232 |  |  | — |  |  | 489 |  |  | — |  |  | — |  |  | 270 |  |  | — |  |  | 991 |
Substandard |  | — |  |  | 209 |  |  | 712 |  |  | 205 |  |  | 3,239 |  |  | 102 |  |  | — |  |  | 4,467 |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 129,275 |  |  | 130,856 |  |  | 118,547 |  |  | 42,952 |  |  | 24,595 |  |  | 108,325 |  |  | — |  |  | 554,550 |
Other consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass |  | 1,226 |  |  | 278 |  |  | 73 |  |  | 95 |  |  | 76 |  |  | 341 |  |  | — |  |  | 2,089 |
Special Mention |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total |  | 1,226 |  |  | 278 |  |  | 73 |  |  | 95 |  |  | 76 |  |  | 341 |  |  | — |  |  | 2,089 |
Credit card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Ungraded |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 127,766 |  |  | 127,766 |
Portfolio loans receivable, gross |  | $ | 621,239 |  |  | $ | 453,647 |  |  | $ | 478,336 |  |  | $ | 296,945 |  |  | $ | 208,179 |  |  | $ | 451,116 |  |  | $ | 127,766 |  |  | $ | 2,637,228 |
December 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(in thousands) |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  | Revolving |  | Total
Gross Charge-Offs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Residential real estate |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 907 |  |  | $ | — |  |  | $ | 907 |
Commercial real estate |  | — |  |  | — |  |  | 570 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 570 |
Commercial and Industrial |  | 84 |  |  | 80 |  |  | 306 |  |  | — |  |  | — |  |  | 136 |  |  | — |  |  | 606 |
Credit card |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 7,145 |  |  | 7,145 |
Total |  | $ | 84 |  |  | $ | 80 |  |  | $ | 876 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,043 |  |  | $ | 7,145 |  |  | $ | 9,228 |
Schedule of Outstanding Loan Commitments | Outstanding loan commitments were as follows:
(in thousands) |  | September 30, 2025 |  | December 31, 2024
Unused lines of credit |  |  |  |
Real Estate: |  |  |  |
Residential |  | $ | 21,655 |  |  | $ | 20,996 |
Residential - Home Equity |  | 42,960 |  |  | 46,900 |
Commercial |  | 21,812 |  |  | 44,201 |
Construction |  | 90,818 |  |  | 85,984 |
Commercial and Industrial |  | 68,813 |  |  | 79,961 |
Credit card(1) |  | 137,816 |  |  | 124,732 |
Other consumer |  | 229 |  |  | 255 |
Total |  | $ | 384,103 |  |  | $ | 403,029 |
Letters of credit |  | $ | 1,633 |  |  | $ | 3,122 |
_______________ (1)Outstanding loan commitments in the credit card portfolio include $98.4 million and $97.2 million in secured and partially secured balances as of September 30, 2025 and December 31, 2024, respectively.
Schedule of Credit Losses for Financing Receivables | Activity for this account is as follows for the periods presented:
|  | Three months ended |  | Nine months ended
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Balance at beginning of period |  | $ | 1,191 |  |  | $ | 1,052 |  |  | $ | 1,191 |  |  | $ | 806 |
Provision for credit losses on unfunded commitments |  | 217 |  |  | 17 |  |  | 217 |  |  | 263 |
Balance at end of period |  | $ | 1,408 |  |  | $ | 1,069 |  |  | $ | 1,408 |  |  | $ | 1,069 |
Activity in this reserve is as follows for the periods presented:
|  | Three months ended |  | Nine months ended
(in thousands) |  | September 30, 2025 |  | September 30, 2024 |  | September 30, 2025 |  | September 30, 2024
Balance at beginning of period |  | $ | 2,294 |  |  | $ | 912 |  |  | $ | 2,260 |  |  | $ | 985 |
Provision for (release of) mortgage loan put-back reserve |  | 19 |  |  | 20 |  |  | 53 |  |  | (53) |
Balance at end of period |  | $ | 2,313 |  |  | $ | 932 |  |  | $ | 2,313 |  |  | $ | 932 |

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