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CAPITAL RATIOS AND SHAREHOLDERS' EQUITY (Tables)

3 Months Ended

Mar. 31, 2025

CAPITAL RATIOS AND SHAREHOLDERS' EQUITY

Schedule of Actual and Required Capital Ratios


		March 31, 2025
								Minimum Required for							Minimum Required to
		Actual						Capital Adequacy purposes							be Well Capitalized
(in thousands, except ratios)		Amount			Ratio			Amount			Ratio			Amount			Ratio
Company (consolidated)
Total capital to risk-weighted assets		$	461,309		13.69	%		$	269,669		8.00	%		$	N/A		N/A	%
Common equity Tier 1 capital to risk-weighted assets			392,951		11.66				151,689		4.50				N/A		N/A
Tier 1 capital to risk-weighted assets			413,571		12.27				202,252		6.00				N/A		N/A
Tier 1 capital to average assets (leverage ratio)			413,571		10.30				160,540		4.00				N/A		N/A

Bank
Total capital to risk-weighted assets		$	457,937		13.61	%		$	269,086		8.00	%		$	336,357		10.00	%
Common equity Tier 1 capital to risk-weighted assets			426,199		12.67				151,360		4.50				218,631		6.50
Tier 1 capital to risk-weighted assets			426,199		12.67				201,813		6.00				269,084		8.00
Tier 1 capital to average assets (leverage ratio)			426,199		10.63				160,365		4.00				200,457		5.00


		December 31, 2024
								Minimum Required for							Minimum Required to
		Actual						Capital Adequacy purposes							be Well Capitalized
(in thousands, except ratios)		Amount			Ratio			Amount			Ratio			Amount			Ratio
Company (consolidated)
Total capital to risk-weighted assets		$	454,960		13.47	%		$	270,206		8.00	%		$	N/A		N/A	%
Common equity Tier 1 capital to risk-weighted assets			386,548		11.45				151,918		4.50				N/A		N/A
Tier 1 capital to risk-weighted assets			407,168		12.06				202,571		6.00				N/A		N/A
Tier 1 capital to average assets (leverage ratio)			407,168		10.30				158,123		4.00				N/A		N/A

Bank
Total capital to risk-weighted assets		$	452,823		13.44	%		$	269,538		8.00	%		$	336,922		10.00	%
Common equity Tier 1 capital to risk-weighted assets			421,031		12.50				151,571		4.50				218,936		6.50
Tier 1 capital to risk-weighted assets			421,031		12.50				202,095		6.00				269,460		8.00
Tier 1 capital to average assets (leverage ratio)			421,031		10.66				157,985		4.00				197,482		5.00

Schedule of Components of Accumulated other comprehensive income (loss)


(in thousands)		March 31, 2025			December 31, 2024
Accumulated other comprehensive loss, before tax:
Net unrealized loss on AFS securities, net of reclassifications		$	(57,233)		$	(62,298)
Net unrealized loss on hedging derivatives			(5,322)			(3,368)
Net unrealized loss on post-retirement plans			(1,565)			(1,565)

Income taxes related to items of accumulated other comprehensive loss:
Net unrealized loss on AFS securities, net of reclassifications			13,674			14,557
Net unrealized loss on hedging derivatives			1,270			786
Net unrealized loss on post-retirement plans			352			352
Accumulated other comprehensive loss		$	(48,824)		$	(51,536)

Schedule of Components of Other Comprehensive Income (Loss)


(in thousands)		Before Tax			Tax Effect			Net of Tax
Three Months Ended March 31, 2025
Net unrealized gain (loss) on AFS securities, net of reclassifications:
Net unrealized gain (loss) arising during the period		$	3,861		$	(732)		$	3,129
Less: reclassification adjustment for gains (losses) realized in net income			(1,204)			151			(1,053)
Net unrealized gain (loss) on AFS securities			5,065			(883)			4,182

Net unrealized gain (loss) on hedging derivatives:
Net unrealized gain (loss) arising during the period			(1,954)			484			(1,470)
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on cash flow hedging derivatives			(1,954)			484			(1,470)

Net unrealized gain (loss) on post-retirement plans:
Net unrealized gain (loss) arising during the period			—			—			—
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on post-retirement plans			—			—			—
Other comprehensive gain (loss)		$	3,111		$	(399)		$	2,712

Three Months Ended March 31, 2024
Net unrealized gain (loss) on AFS securities, net of reclassifications:
Net unrealized gain (loss) arising during the period		$	(2,597)		$	613		$	(1,984)
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on AFS securities			(2,597)			613			(1,984)

Net unrealized gain (loss) on hedging derivatives:
Net unrealized gain (loss) arising during the period			(937)			221			(716)
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on cash flow hedging derivatives			(937)			221			(716)

Net unrealized gain (loss) on post-retirement plans:
Net unrealized gain (loss) arising during the period			22			(28)			(6)
Less: reclassification adjustment for gains (losses) realized in net income			—			—			—
Net unrealized gain (loss) on post-retirement plans			22			(28)			(6)
Other comprehensive gain (loss)		$	(3,512)		$	806		$	(2,706)

Schedule of Changes in Components of Accumulated Other Comprehensive Income (Loss)



		Net unrealized			Net unrealized			Net unrealized
		gain (loss)			gain (loss)			loss
		on AFS			on hedging			on pension
(in thousands)		Securities			derivatives			plans			Total
Three Months Ended March 31, 2025
Balance at beginning of period		$	(47,741)		$	(2,582)		$	(1,213)		$	(51,536)
Other comprehensive gain (loss) before reclassifications			3,129			(1,470)			—			1,659
Less: amounts reclassified from accumulated other comprehensive income			(1,053)			—			—			(1,053)
Total other comprehensive gain (loss)			4,182			(1,470)			—			2,712
Balance at end of period		$	(43,559)		$	(4,052)		$	(1,213)		$	(48,824)

Three Months Ended March 31, 2024
Balance at beginning of period		$	(47,649)		$	(1,010)		$	(1,203)		$	(49,862)
Other comprehensive gain (loss) before reclassifications			(1,984)			(716)			(6)			(2,706)
Less: amounts reclassified from accumulated other comprehensive income			—			—			—			—
Total other comprehensive gain (loss)			(1,984)			(716)			(6)			(2,706)
Balance at end of period		$	(49,633)		$	(1,726)		$	(1,209)		$	(52,568)