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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

12 Months Ended

Dec. 31, 2024

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

Schedule of Loans


		December 31,			December 31,
(in thousands)		2024			2023
Commercial construction		$	131,617		$	154,048
Commercial real estate owner occupied			302,074			310,015
Commercial real estate non-owner occupied			1,358,903			1,144,566
Tax exempt and other			44,275			43,688
Commercial and industrial			319,766			310,883
Residential real estate			888,251			940,334
Home equity			94,141			87,683
Consumer other			8,069			7,832
Total loans			3,147,096			2,999,049
Allowance for credit losses			28,744			28,142
Net loans		$	3,118,352		$	2,970,907

Summary of Unamortized Net Costs and Premiums


		December 31,			December 31,
(in thousands)		2024			2023
Net unamortized loan origination costs		$	1,982		$	3,039
Net unamortized fair value discount on acquired loans			(2,442)			(2,891)
Total		$	(460)		$	148

Schedule of Activity in the Allowance for Credit Losses


		At or for the Year Ended December 31, 2024
		Balance at
		Beginning of												Balance at
(in thousands)		Period			Charge Offs			Recoveries			Provision			End of Period
Commercial construction		$	4,261		$	—		$	—		$	(2,165)		$	2,096
Commercial real estate owner occupied			2,863			(3)			—			(66)			2,794
Commercial real estate non-owner occupied			9,443			—			—			1,661			11,104
Tax exempt and other			119			—			—			9			128
Commercial and industrial			3,259			(187)			29			1,963			5,064
Residential real estate			7,352			—			15			(635)			6,732
Home equity			767			—			11			(37)			741
Consumer other			78			(277)			59			225			85
Total		$	28,142		$	(467)		$	114		$	955		$	28,744


		At or for the Year Ended December 31, 2023
		Balance at
		Beginning of												Balance at
(in thousands)		Period			Charge Offs			Recoveries			Provision			End of Period
Commercial construction		$	2,579		$	—		$	—		$	1,682		$	4,261
Commercial real estate owner occupied			2,189			—			142			532			2,863
Commercial real estate non-owner occupied			9,341			—			—			102			9,443
Tax exempt and other			93			—			—			26			119
Commercial and industrial			3,493			(664)			149			281			3,259
Residential real estate			7,274			(8)			31			55			7,352
Home equity			811			(12)			6			(38)			767
Consumer other			80			(289)			19			268			78
Total		$	25,860		$	(973)		$	347		$	2,908		$	28,142


		At or for the Year Ended December 31, 2022
		Balance at
		Beginning of												Balance at
(in thousands)		Period			Charge Offs			Recoveries			Provision			End of Period
Commercial construction		$	2,111		$	—		$	—		$	468		$	2,579
Commercial real estate owner occupied			2,751			—			120			(682)			2,189
Commercial real estate non-owner occupied			5,650			—			—			3,691			9,341
Tax exempt and other			86			—			—			7			93
Commercial and industrial			5,369			(8)			341			(2,209)			3,493
Residential real estate			5,862			(84)			106			1,390			7,274
Home equity			814			(7)			25			(21)			811
Consumer other			75			(267)			12			260			80
Total		$	22,718		$	(366)		$	604		$	2,904		$	25,860

Schedule of Loans by Risk Rating

The following tables presents our loans by year of origination, loan segmentation and risk indicator as of December 31, 2024 and 2023:



(in thousands)		2024			2023			2022			2021			2020			Prior			Total
Commercial construction
Risk rating:
Pass		$	34,320		$	27,251		$	55,825		$	771		$	4,404		$	9,046		$	131,617
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	34,320		$	27,251		$	55,825		$	771		$	4,404		$	9,046		$	131,617
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate owner occupied
Risk rating:
Pass		$	42,705		$	46,869		$	60,102		$	29,808		$	20,761		$	96,123		$	296,368
Special mention			—			128			—			—			—			2,070			2,198
Substandard			—			—			—			—			—			3,442			3,442
Doubtful			—			—			—			—			—			66			66
Total		$	42,705		$	46,997		$	60,102		$	29,808		$	20,761		$	101,701		$	302,074
Current period gross write-offs			—			—			—			—			—			3			3

Commercial real estate non-owner occupied
Risk rating:
Pass		$	142,348		$	47,986		$	405,235		$	234,520		$	156,873		$	295,646		$	1,282,608
Special mention			—			—			—			20,446			3,913			26,969			51,328
Substandard			—			7,702			—			—			—			17,265			24,967
Doubtful			—			—			—			—			—			—			—
Total		$	142,348		$	55,688		$	405,235		$	254,966		$	160,786		$	339,880		$	1,358,903
Current period gross write-offs			—			—			—			—			—			—			—

Tax exempt and other
Risk rating:
Pass		$	11,026		$	2,669		$	6,283		$	602		$	178		$	23,517		$	44,275
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	11,026		$	2,669		$	6,283		$	602		$	178		$	23,517		$	44,275
Current period gross write-offs			—			—			—			—			—			—			—

Commercial and industrial
Risk rating:
Pass		$	79,211		$	62,047		$	47,739		$	12,154		$	32,239		$	65,002		$	298,392
Special mention			9			14,878			1,266			834			60			632			17,679
Substandard			128			72			408			221			—			2,866			3,695
Doubtful			—			—			—			—			—			—			—
Total		$	79,348		$	76,997		$	49,413		$	13,209		$	32,299		$	68,500		$	319,766
Current period gross write-offs			—			48			28			62			18			31			187


(in thousands)		2024			2023			2022			2021			2020			Prior			Total
Residential real estate
Performing		$	35,872		$	67,708		$	174,677		$	154,229		$	89,752		$	362,421		$	884,659
Nonperforming			—			194			458			—			—			2,940			3,592
Total		$	35,872		$	67,902		$	175,135		$	154,229		$	89,752		$	365,361		$	888,251
Current period gross write-offs			—			—			—			—			—			—			—

Home equity
Performing		$	19,175		$	15,762		$	12,515		$	6,648		$	5,536		$	33,238		$	92,874
Nonperforming			—			—			198			53			—			1,016			1,267
Total		$	19,175		$	15,762		$	12,713		$	6,701		$	5,536		$	34,254		$	94,141
Current period gross write-offs			—			—			—			—			—			—			—

Consumer other
Performing		$	4,432		$	1,644		$	870		$	276		$	108		$	715		$	8,045
Nonperforming			—			8			—			1			—			15			24
Total		$	4,432		$	1,652		$	870		$	277		$	108		$	730		$	8,069
Current period gross write-offs			—			59			12			—			2			204			277

Total Loans		$	369,226		$	294,918		$	765,576		$	460,563		$	313,824		$	942,989		$	3,147,096

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

(in thousands)		2023			2022			2021			2020			2019			Prior			Total
Commercial construction
Risk rating:
Pass		$	14,040		$	99,115		$	35,978		$	3,992		$	—		$	923		$	154,048
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	14,040		$	99,115		$	35,978		$	3,992		$	—		$	923		$	154,048
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate owner occupied
Risk rating:
Pass		$	57,603		$	61,015		$	43,228		$	20,209		$	20,462		$	91,187		$	293,704
Special mention			160			387			7,488			1,596			—			3,066			12,697
Substandard			—			—			—			—			—			3,497			3,497
Doubtful			—			—			—			—			—			117			117
Total		$	57,763		$	61,402		$	50,716		$	21,805		$	20,462		$	97,867		$	310,015
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate non-owner occupied
Risk rating:
Pass		$	41,270		$	353,613		$	199,311		$	127,231		$	78,759		$	238,973		$	1,039,157
Special mention			7,809			—			14,134			37,249			15,246			17,108			91,546
Substandard			—			—			—			—			—			13,863			13,863
Doubtful			—			—			—			—			—			—			—
Total		$	49,079		$	353,613		$	213,445		$	164,480		$	94,005		$	269,944		$	1,144,566
Current period gross write-offs			—			—			—			—			—			—			—

Tax exempt and other
Risk rating:
Pass		$	6,340		$	8,468		$	787		$	208		$	590		$	27,295		$	43,688
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	6,340		$	8,468		$	787		$	208		$	590		$	27,295		$	43,688
Current period gross write-offs			—			—			—			—			—			—			—

Commercial and industrial
Risk rating:
Pass		$	80,942		$	69,402		$	22,205		$	38,824		$	14,739		$	77,273		$	303,385
Special mention			364			1,446			—			776			28			3,588			6,202
Substandard			58			94			186			109			95			532			1,074
Doubtful			—			—			—			—			87			135			222
Total		$	81,364		$	70,942		$	22,391		$	39,709		$	14,949		$	81,528		$	310,883
Current period gross write-offs			—			—			—			—			5			659			664


(in thousands)		2023			2022			2021			2020			2019			Prior			Total
Residential real estate
Performing		$	72,395		$	194,109		$	165,434		$	96,016		$	62,648		$	345,823		$	936,425
Nonperforming			—			—			41			—			234			3,634			3,909
Total		$	72,395		$	194,109		$	165,475		$	96,016		$	62,882		$	349,457		$	940,334
Current period gross write-offs			—			—			—			—			—			8			8

Home equity
Performing		$	15,582		$	15,334		$	7,873		$	6,633		$	4,800		$	36,652		$	86,874
Nonperforming			—			—			—			—			—			809			809
Total		$	15,582		$	15,334		$	7,873		$	6,633		$	4,800		$	37,461		$	87,683
Current period gross write-offs			—			—			—			—			—			12			12

Consumer other
Performing		$	4,128		$	1,787		$	696		$	301		$	51		$	864		$	7,827
Nonperforming			—			—			4			1			—			—			5
Total		$	4,128		$	1,787		$	700		$	302		$	51		$	864		$	7,832
Current period gross write-offs			—			52			18			5			—			214			289

Total Loans		$	300,691		$	804,770		$	497,365		$	333,145		$	197,739		$	865,339		$	2,999,049

Summary of Past Due Loans


		December 31, 2024
(in thousands)		30-59			60-89			90+			Total Past Due			Current			Total Loans
Commercial construction		$	—		$	—		$	—		$	—		$	131,617		$	131,617
Commercial real estate owner occupied			—			—			6			6			302,068			302,074
Commercial real estate non-owner occupied			184			—			93			277			1,358,626			1,358,903
Tax exempt and other			—			—			—			—			44,275			44,275
Commercial and industrial			428			227			578			1,233			318,533			319,766
Residential real estate			14,076			2,426			663			17,165			871,086			888,251
Home equity			963			441			193			1,597			92,544			94,141
Consumer other			35			20			1			56			8,013			8,069
Total		$	15,686		$	3,114		$	1,534		$	20,334		$	3,126,762		$	3,147,096


		December 31, 2023
(in thousands)		30-59			60-89			90+			Total Past Due			Current			Total Loans
Commercial construction		$	—		$	—		$	—		$	—		$	154,048		$	154,048
Commercial real estate owner occupied			—			—			—			—			310,015			310,015
Commercial real estate non-owner occupied			—			—			103			103			1,144,463			1,144,566
Tax exempt and other			—			—			—			—			43,688			43,688
Commercial and industrial			465			59			330			854			310,029			310,883
Residential real estate			1,520			627			1,999			4,146			936,188			940,334
Home equity			600			—			337			937			86,746			87,683
Consumer other			10			2			—			12			7,820			7,832
Total		$	2,595		$	688		$	2,769		$	6,052		$	2,992,997		$	2,999,049

Summary of Non-Accrual Loans


		December 31, 2024
					Nonaccrual With No			90+ Days Past
(in thousands)		Nonaccrual			Related Allowance			Due and Accruing
Commercial construction		$	—		$	—		$	—
Commercial real estate owner occupied			736			671			—
Commercial real estate non-owner occupied			277			184			—
Tax exempt and other			—			—			—
Commercial and industrial			1,099			295			—
Residential real estate			3,591			898			—
Home equity			1,267			1			2
Consumer other			24			1			—
Total		$	6,994		$	2,050		$	2


		December 31, 2023
					Nonaccrual With No			90+ Days Past
(in thousands)		Nonaccrual			Related Allowance			Due and Accruing
Commercial construction		$	—		$	—		$	—
Commercial real estate owner occupied			103			44			—
Commercial real estate non-owner occupied			340			224			—
Tax exempt and other			—			—			—
Commercial and industrial			363			6			—
Residential real estate			3,908			1,131			118
Home equity			809			1			22
Consumer other			5			—			—
Total		$	5,528		$	1,406		$	140

Schedule of amortized cost basis of collateral-dependent loans


		December 31, 2024						December 31, 2023
(in thousands)		Real Estate			Other			Real Estate			Other
Commercial construction		$	—		$	—		$	—		$	—
Commercial real estate owner occupied			736			—			104			—
Commercial real estate non-owner occupied			277			—			340			—
Tax exempt and other			—			—			—			—
Commercial and industrial			1,099			—			229			134
Residential real estate			3,591			—			3,908			—
Home equity			1,267			—			808			—
Consumer other			24			—			5			—
Total		$	6,994		$	—		$	5,394		$	134

Schedule of amortized cost basis of of loans experiencing financial difficulty and modification


(in thousands)		Principal Forgiveness			Payment Delay			Term Extension			Interest Rate Reduction			Combination Interest Rate Reduction and Term Extension			% of Total Class of Loans
Twelve Months Ended December 31, 2024
Commercial construction		$	—		$	—		$	—		$	—		$	—		—	%
Commercial real estate owner occupied			—			—			—			—			—		—
Commercial real estate non-owner occupied			—			—			—			—			—		—
Tax exempt and other			—			—			—			—			—		—
Commercial and industrial			—			—			9			—			—		0.00
Residential real estate			—			70			30			—			72		0.02
Home equity			—			—			—			—			—		—
Consumer other			—			—			—			—			—		—
Total		$	—		$	70		$	39		$	—		$	72		0.01	%


(in thousands)		Principal Forgiveness			Payment Delay			Term Extension			Interest Rate Reduction			Combination Interest Rate Reduction and Term Extension			% of Total Class of Loans
Twelve Months Ended December 31, 2023
Commercial construction		$	—		$	—		$	—		$	—		$	—		—	%
Commercial real estate owner occupied			—			—			—			—			—		—
Commercial real estate non-owner occupied			—			—			—			—			—		—
Tax exempt and other			—			—			—			—			—		—
Commercial and industrial			—			65			184			—			—		0.08
Residential real estate			—			—			—			99			—		0.01
Home equity			—			—			—			—			—		—
Consumer other			—			—			—			—			—		—
Total		$	—		$	65		$	184		$	99		$	—		0.01	%

Schedule of financial effect loan modifications


		Weighted-Average Months of Payment Delay			Weighted-Average Months of Term Extension				Weighted-Average Interest Rate Reduction
Twelve Months Ended December 31, 2024
Commercial construction			—			—			—	%
Commercial real estate owner occupied			—			—			—
Commercial real estate non-owner occupied			—			—			—
Tax exempt and other			—			—			—
Commercial and industrial			—			58			—
Residential real estate			3			61			1.25
Home equity			—			—			—
Consumer other			—			—			—


		Weighted-Average Months of Payment Delay			Weighted-Average Months of Term Extension				Weighted-Average Interest Rate Reduction
Twelve Months Ended December 31, 2023
Commercial construction			—			—			—	%
Commercial real estate owner occupied			—			—			—
Commercial real estate non-owner occupied			—			—			—
Tax exempt and other			—			—			—
Commercial and industrial			3			13			—
Residential real estate			—			—			1.38
Home equity			—			—			—
Consumer other			—			—			—

Schedule of Loans to Related Parties


(in thousands)		2024			2023
Beginning balance		$	4,045		$	4,763
Changes in composition⁽¹⁾			—			—
New loans			35			—
Less: repayments			(1,525)			(718)
Ending balance		$	2,555		$	4,045

(1)	Adjustments to reflect changes in status of directors and officers for each year presented.

Schedule of Servicing Rights Activity


		At or for the Twelve Months Ended
		December 31,
(in thousands)		2024			2023
Balance at beginning of year		$	3,161		$	3,383
Additions			530			338
Amortization			(602)			(560)
Balance at end of year		$	3,089		$	3,161

Unfunded Loan Commitment

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

Schedule of Activity in the Allowance for Credit Losses


		At or for the Years Ended December 31,
(in thousands)		2024			2023			2022
Beginning Balance		$	3,825		$	3,910		$	2,152
Provision for credit losses			(776)			(85)			1,758
Ending Balance		$	3,049		$	3,825		$	3,910