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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2023

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Loans


		March 31,			December 31,
(in thousands)		2023			2022
Commercial construction		$	132,960		$	117,577
Commercial real estate owner occupied			261,365			244,814
Commercial real estate non-owner occupied			1,149,030			1,146,674
Tax exempt			43,253			42,879
Commercial and industrial			298,384			297,112
Residential real estate			961,701			954,968
Home equity			89,777			90,865
Consumer other			7,535			7,801
Total loans			2,944,005			2,902,690
Allowance for credit losses			26,607			25,860
Net loans		$	2,917,398		$	2,876,830

Summary of Unamortized Net Costs and Premiums


		March 31,			December 31,
(in thousands)		2023			2022
Net unamortized loan origination costs		$	3,233		$	3,184
Net unamortized fair value discount on acquired loans			(3,339)			(3,506)
Total		$	(106)		$	(322)

Schedule of Activity in the Allowance for Credit Losses


		At or for the Three Months Ended March 31, 2023
		Balance at
		Beginning of												Balance at
(in thousands)		Period			Charge Offs			Recoveries			Provision			End of Period
Commercial construction		$	2,579		$	—		$	—		$	455		$	3,034
Commercial real estate owner occupied			2,189			—			—			159			2,348
Commercial real estate non-owner occupied			9,341			—			—			3			9,344
Tax exempt			93			—			—			—			93
Commercial and industrial			3,493			(1)			6			117			3,615
Residential real estate			7,274			(4)			8			27			7,305
Home equity			811			—			2			(21)			792
Consumer other			80			(63)			1			58			76
Total		$	25,860		$	(68)		$	17		$	798		$	26,607


		At or for the Three Months Ended March 31, 2022
		Balance at
		Beginning of												Balance at
(in thousands)		Period			Charge Offs			Recoveries			Provision			End of Period
Commercial construction		$	2,111		$	—		$	—		$	(1,110)		$	1,001
Commercial real estate owner occupied			2,751			—			54			(132)			2,673
Commercial real estate non-owner occupied			5,650			—			—			1,357			7,007
Tax exempt			86			—			—			(86)			—
Commercial and industrial			5,369			—			25			(655)			4,739
Residential real estate			5,862			(15)			91			940			6,878
Home equity			814			(2)			5			10			827
Consumer other			75			(66)			3			53			65
Total		$	22,718		$	(83)		$	178		$	377		$	23,190

Schedule of Loans by Risk Rating

The following table presents our loans by year of origination, loan segmentation and risk indicator as of March 31, 2023:



(in thousands)		2023			2022			2021			2020			2019			Prior			Total
Commercial construction
Risk rating:
Pass		$	375		$	67,868		$	36,035		$	3,541		$	—		$	954		$	108,773
Special mention			—			—			—			24,187			—			—			24,187
Substandard			—			—			—			—			—			—			—
Total		$	375		$	67,868		$	36,035		$	27,728		$	—		$	954		$	132,960
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate owner occupied
Risk rating:
Pass		$	2,829		$	30,185		$	23,375		$	22,719		$	30,348		$	146,061		$	255,517
Special mention			—			—			—			240			659			531			1,430
Substandard			—			—			—			—			—			4,282			4,282
Doubtful			—			—			—			—			—			136			136
Total		$	2,829		$	30,185		$	23,375		$	22,959		$	31,007		$	151,010		$	261,365
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate non-owner occupied
Risk rating:
Pass		$	2,795		$	372,122		$	228,413		$	144,782		$	89,518		$	270,794		$	1,108,424
Special mention			—			—			21,498			—			—			4,135			25,633
Substandard			—			—			—			—			115			14,722			14,837
Doubtful			—			—			—			—			—			136			136
Total		$	2,795		$	372,122		$	249,911		$	144,782		$	89,633		$	289,787		$	1,149,030
Current period gross write-offs			—			—			—			—			—			—			—

Tax exempt
Risk rating:
Pass		$	2		$	10,612		$	946		$	247		$	714		$	30,732		$	43,253
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	2		$	10,612		$	946		$	247		$	714		$	30,732		$	43,253
Current period gross write-offs			—			—			—			—			—			—			—

Commercial and industrial
Risk rating:
Pass		$	14,313		$	74,242		$	26,272		$	59,235		$	29,188		$	88,912		$	292,162
Special mention			45			1,403			—			48			956			735			3,187
Substandard			—			102			142			120			335			2,336			3,035
Doubtful			—			—			—			—			—			—			—
Total		$	14,358		$	75,747		$	26,414		$	59,403		$	30,479		$	91,983		$	298,384
Current period gross write-offs			—			—			—			—			—			1			1


(in thousands)		2023			2022			2021			2020			2019			Prior			Total
Residential real estate
Performing		$	21,385		$	196,948		$	176,209		$	109,432		$	67,756		$	385,905		$	957,635
Nonperforming			—			—			43			—			48			3,975			4,066
Total		$	21,385		$	196,948		$	176,252		$	109,432		$	67,804		$	389,880		$	961,701
Current period gross write-offs			—			—			—			—			—			4			4

Home equity
Performing		$	3,428		$	18,315		$	10,306		$	7,383		$	5,953		$	43,459		$	88,844
Nonperforming			—			—			—			—			—			933			933
Total		$	3,428		$	18,315		$	10,306		$	7,383		$	5,953		$	44,392		$	89,777
Current period gross write-offs			—			—			—			—			—			—			—

Consumer other
Performing		$	1,862		$	2,659		$	1,150		$	718		$	181		$	961		$	7,531
Nonperforming			—			—			—			4			—			—			4
Total		$	1,862		$	2,659		$	1,150		$	722		$	181		$	961		$	7,535
Current period gross write-offs			—			52			8			2			—		$	1			63

Total Loans		$	47,034		$	774,456		$	524,389		$	372,656		$	225,771		$	999,699		$	2,944,005

The following table presents our loans by year of origination, loan segmentation and risk indicator as of December 31, 2022:



(in thousands)		2022			2021			2020			2019			2018			Prior			Total
Commercial construction
Risk rating:
Pass		$	49,722		$	38,837		$	2,865		$	1,011		$	964		$	—		$	93,399
Special mention			—			—			24,178			—			—			—			24,178
Substandard			—			—			—			—			—			—			—
Total		$	49,722		$	38,837		$	27,043		$	1,011		$	964		$	—		$	117,577

Commercial real estate owner occupied
Risk rating:
Pass		$	22,371		$	11,290		$	23,014		$	31,352		$	46,398		$	103,295		$	237,720
Special mention			—			—			243			666			173			1,870			2,952
Substandard			—			—			—			—			77			3,924			4,001
Doubtful			—			—			—			—			—			141			141
Total		$	22,371		$	11,290		$	23,257		$	32,018		$	46,648		$	109,230		$	244,814

Commercial real estate non-owner occupied
Risk rating:
Pass		$	370,856		$	228,414		$	145,096		$	88,111		$	35,213		$	238,395		$	1,106,085
Special mention			—			21,390			—			127			911			16,612			39,040
Substandard			—			—			—			—			—			1,404			1,404
Doubtful			—			—			—			—			—			145			145
Total		$	370,856		$	249,804		$	145,096		$	88,238		$	36,124		$	256,556		$	1,146,674

Tax exempt
Risk rating:
Pass		$	8,686		$	1,020		$	252		$	772		$	13,231		$	18,918		$	42,879
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	8,686		$	1,020		$	252		$	772		$	13,231		$	18,918		$	42,879

Commercial and industrial
Risk rating:
Pass		$	83,151		$	26,948		$	62,835		$	27,491		$	9,511		$	81,316		$	291,252
Special mention			1,450			—			53			803			201			619			3,126
Substandard			—			113			111			65			299			2,106			2,694
Doubtful			—			—			—			—			—			40			40
Total		$	84,601		$	27,061		$	62,999		$	28,359		$	10,011		$	84,081		$	297,112


(in thousands)		2022			2021			2020			2019			2018			Prior			Total
Residential real estate
Performing		$	195,320		$	177,480		$	111,021		$	69,170		$	47,797		$	349,795		$	950,583
Nonperforming			—			45			—			49			641			3,650			4,385
Total		$	195,320		$	177,525		$	111,021		$	69,219		$	48,438		$	353,445		$	954,968

Home equity
Performing		$	17,107		$	10,638		$	8,139		$	6,830		$	6,997		$	40,191		$	89,902
Nonperforming			—			—			—			—			—			963			963
Total		$	17,107		$	10,638		$	8,139		$	6,830		$	6,997		$	41,154		$	90,865

Consumer other
Performing		$	4,321		$	1,341		$	863		$	265		$	64		$	942		$	7,796
Nonperforming			—			—			5			—			—			—			5
Total		$	4,321		$	1,341		$	868		$	265		$	64		$	942		$	7,801

Total Loans		$	752,984		$	517,516		$	378,675		$	226,712		$	162,477		$	864,326		$	2,902,690

Summary of Past Due Loans


		March 31, 2023
(in thousands)		30-59			60-89			90+			Total Past Due			Current			Total Loans
Commercial construction		$	—		$	—		$	—		$	—		$	132,960		$	132,960
Commercial real estate owner occupied			197			227			308			732			260,633			261,365
Commercial real estate non-owner occupied			352			—			133			485			1,148,545			1,149,030
Tax exempt			—			—			—			—			43,253			43,253
Commercial and industrial			261			281			134			676			297,708			298,384
Residential real estate			5,325			393			1,728			7,446			954,255			961,701
Home equity			821			—			276			1,097			88,680			89,777
Consumer other			14			9			—			23			7,512			7,535
Total		$	6,970		$	910		$	2,579		$	10,459		$	2,933,546		$	2,944,005


		December 31, 2022
(in thousands)		30-59			60-89			90+			Total Past Due			Current			Total Loans
Commercial construction		$	—		$	—		$	—		$	—		$	117,577		$	117,577
Commercial real estate owner occupied			385			—			—			385			244,429			244,814
Commercial real estate non-owner occupied			45			145			139			329			1,146,345			1,146,674
Tax exempt			—			—			—			—			42,879			42,879
Commercial and industrial			169			—			9			178			296,934			297,112
Residential real estate			803			348			2,029			3,180			951,788			954,968
Home equity			216			160			246			622			90,243			90,865
Consumer other			41			8			—			49			7,752			7,801
Total		$	1,659		$	661		$	2,423		$	4,743		$	2,897,947		$	2,902,690

Summary of Non-Accrual Loans


		March 31, 2023
					Nonaccrual With No			90+ Days Past
(in thousands)		Nonaccrual			Related Allowance			Due and Accruing
Commercial construction		$	—		$	—		$	—
Commercial real estate owner occupied			432			362			—
Commercial real estate non-owner occupied			529			396			—
Tax exempt			—			—			—
Commercial and industrial			1,832			138			—
Residential real estate			4,066			1,181			93
Home equity			933			51			45
Consumer other			4			—			—
Total		$	7,796		$	2,128		$	138


		December 31, 2022
					Nonaccrual With No			90+ Days Past
(in thousands)		Nonaccrual			Related Allowance			Due and Accruing
Commercial construction		$	—		$	—		$	—
Commercial real estate owner occupied			439			360			—
Commercial real estate non-owner occupied			550			411			—
Tax exempt			—			—			—
Commercial and industrial			207			145			—
Residential real estate			4,385			1,361			202
Home equity			963			57			14
Consumer other			5			—			—
Total		$	6,549		$	2,334		$	216

Schedule of amortized cost basis of collateral-dependent loans


		March 31, 2023						December 31, 2022
(in thousands)		Real Estate			Other			Real Estate			Other
Commercial construction		$	—		$	—		$	—		$	—
Commercial real estate owner occupied			432			—			439			—
Commercial real estate non-owner occupied			529			—			550			—
Tax exempt			—			—			—			—
Commercial and industrial			222			1,610			91			116
Residential real estate			4,066			—			4,385			—
Home equity			933			—			963			—
Consumer other			4			—			5			—
Total		$	6,186		$	1,610		$	6,433		$	116

Unfunded Loan Commitment

Accounts, Notes, Loans and Financing Receivable [Line Items]

Schedule of Activity in the Allowance for Credit Losses


(in thousands)		Three Months Ended March 31, 2023			Three Months Ended March 31, 2022
Beginning Balance		$	3,910		$	2,152
Provision for credit losses			(175)			30
Ending Balance		$	3,735		$	2,182