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Loans, net and allowance for credit losses (Tables)

9 Months Ended

Sep. 30, 2023

Loans, net and allowance for credit losses

Schedule of major classifications of loans outstanding



(Dollars in thousands)			September 30, 2023		December 31, 2022
Commercial and Industrial		$	404,245		$	433,048
Municipal			176,935			166,210
Total			581,180			599,258
Real estate
Commercial			1,846,350			1,709,827
Residential			357,647			330,728
Total			2,203,997			2,040,555
Consumer
Indirect Auto			78,953			76,461
Consumer Other			6,839			13,842
Total			85,792			90,303
Total		$	2,870,969		$	2,730,116

Schedule of changes in allowance for loan losses account by major classification of loans


(Dollars in thousands)								Real estate
September 30, 2023		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Beginning Balance July 1, 2023		$	2,751		$	827		$	14,961		$	3,767		$	912		$	23,218
Charge-offs															(65)			(65)
Recoveries			4									3			16			23
Provisions (credits)			(504)			40			134			128			36			(166)
Ending balance		$	2,251		$	867		$	15,095		$	3,898		$	899		$	23,010

(Dollars in thousands)								Real estate
September 30, 2022		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for loan losses:
Beginning Balance July 1, 2022		$	6,522		$	1,244		$	17,569		$	3,220		$	819		$	29,374
Charge-offs									(15)						(86)			(101)
Recoveries			10						32			1			56			99
Provisions (credits)			(12)			7			437			9			9			450
Ending balance		$	6,520		$	1,251		$	18,023		$	3,230		$	798		$	29,822


(Dollars in thousands)								Real estate
September 30, 2023		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Beginning Balance January 1, 2023		$	4,365		$	1,247		$	17,915		$	3,072		$	873		$	27,472
Impact of adopting ASU 2016-13			(1,683)			747			(3,344)			967			30			(3,283)
Beginning Balance January 1, 2023			2,682			1,994			14,571			4,039			903			24,189
Charge-offs			(4)												(213)			(217)
Recoveries			9						1			22			109			141
Provisions (credits)			(436)			(1,127)			523			(163)			100			(1,103)
Ending balance		$	2,251		$	867		$	15,095		$	3,898		$	899		$	23,010

(Dollars in thousands)								Real estate
September 30, 2022		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for loan losses:
Beginning Balance January 1, 2022		$	7,466		$	987		$	15,928		$	3,209		$	793		$	28,383
Charge-offs			(161)						(147)			(2)			(244)			(554)
Recoveries			39						109			4			141			293
Provisions (credits)			(824)			264			2,133			19			108			1,700
Ending balance		$	6,520		$	1,251		$	18,023		$	3,230		$	798		$	29,822

Schedule of nonaccrual loans



			September 30, 2023
			Total			Nonaccrual with			Nonaccrual with
			Nonaccrual			an Allowance for			no Allowance for
(Dollars in thousands)			Loans			Credit Losses			Credit Losses
Commercial		$	42		$	42		$
Municipal
Real estate:
Commercial			2,065						2,065
Residential			687						687
Consumer			266						266
Total		$	3,060		$	42		$	3,018



									December 31, 2022
									Total
									Nonaccrual
(Dollars in thousands)									Loans
Commercial								$	86
Municipal
Real estate:
Commercial									1,155
Residential									562
Consumer									232
Total								$	2,035

Summarized information concerning impaired loans


		September 30, 2022
											This Quarter							Year-to-Date
					Unpaid						Average			Interest				Average			Interest
		Recorded			Principal			Related			Recorded			Income				Recorded			Income
(Dollars in thousands)		Investment			Balance			Allowance			Investment			Recognized				Investment			Recognized
With no related allowance:
Commercial		$	94		$	425		$			$	110		$	3		$	129		$	7
Municipal
Real estate:
Commercial			2,389			3,193						2,431			9			2497			31
Residential			918			1,102						957			6			915			16
Consumer			245			256						258						215
Total			3,646			4,976						3,756			18			3,756			54
With an allowance recorded:
Commercial			20			20			19			27						29
Municipal
Real estate:
Commercial			332			332			1			381			7			429			15
Residential			243			247			21			257			3			297			9
Consumer
Total			595			599			41			665			10			755			24
Total impaired loans
Commercial			114			445			19			137			3			158			7
Municipal
Real estate:
Commercial			2,721			3,525			1			2,812			16			2,926			46
Residential			1,161			1,349			21			1,214			9			1,212			25
Consumer			245			256						258						215
Total		$	4,241		$	5,575		$	41		$	4,421		$	28		$	4,511		$	78

Schedule of major classification of loans portfolio summarized by credit quality




(Dollars in thousands)			2023			2022			2021			2020			2019			Prior			Revolving Loans Amortized Cost Basis			Total
Commercial
Pass		$	12,683		$	40,553		$	36,636		$	28,862		$	47,241		$	89,914		$	139,540		$	395,429
Special Mention																					41			41
Substandard			15						43						39			540			8,138			8,775
Total Commercial			12,698			40,553			36,679			28,862			47,280			90,454			147,719			404,245

Municipal
Pass			1,191			48,439			96,517			11,387			22			19,292			87			176,935
Special Mention
Substandard
Total Municipal			1,191			48,439			96,517			11,387			22			19,292			87			176,935

Commercial real estate
Pass			120,565			551,075			495,384			147,219			153,519			370,440						1,838,202
Special Mention						484									298			434						1,216
Substandard			170						1,636			162			618			4,346						6,932
Total Commercial real estate			120,735			551,559			497,020			147,381			154,435			375,220						1,846,350

Residential real estate
Pass			21,151			54,932			67,074			28,033			17,125			87,298			81,347			356,960
Special Mention
Substandard			4									329						349			5			687
Total Residential real estate			21,155			54,932			67,074			28,362			17,125			87,647			81,352			357,647

Consumer
Pass			24,163			33,055			13,885			6,285			3,765			3,602			772			85,527
Special Mention
Substandard						51			105			51			12			34			12			265
Total Consumer			24,163			33,106			13,990			6,336			3,777			3,636			784			85,792

Total Loans		$	179,942		$	728,589		$	711,280		$	222,328		$	222,639		$	576,249		$	229,942		$	2,870,969

Gross charge-offs
Commercial		$			$			$			$			$			$			$	4		$	4
Municipal
Commercial real estate
Residential real estate
Consumer						32			79			50			37			15						213
Total Gross charge-offs		$			$	32		$	79		$	50		$	37		$	15		$	4		$	217


		December 31, 2022
					Special
(Dollars in thousands)		Pass			Mention			Substandard			Doubtful			Total
Commercial		$	424,411		$	7,822		$	815		$			$	433,048
Municipal			166,210												166,210
Real estate:
Commercial			1,699,041			7,509			3,277						1,709,827
Residential			329,098						1,630						330,728
Consumer			90,020						283						90,303
Total		$	2,708,780		$	15,331		$	6,005		$			$	2,730,116

Schedule of information concerning nonaccrual loans by major loan classification


(Dollars in thousands)								Real estate
September 30, 2023		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Ending balance		$	2,251		$	867		$	15,095		$	3,898		$	899		$	23,010
Ending balance: individually evaluated			42															42
Ending balance: collectively evaluated		$	2,209		$	867		$	15,095		$	3,898		$	899		$	22,968
Loans receivable:
Ending balance		$	404,245		$	176,935		$	1,846,350		$	357,647		$	85,792		$	2,870,969
Individually evaluated - collateral dependent - real estate			61						2,065			1,327						3,453
Individually evaluated - collateral dependent - non-real estate			42															42
Collectively evaluated			404,142			176,935			1,844,285			356,320			85,792			2,867,474



(Dollars in thousands)								Real estate
December 31, 2022		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for loan losses:
Ending balance		$	4,365		$	1,247		$	17,915		$	3,072		$	873		$	27,472
Ending balance: individually evaluated for impairment			19									21						40
Ending balance: collectively evaluated for impairment		$	4,346		$	1,247		$	17,915		$	3,051		$	873		$	27,432
Loans receivable:
Ending balance		$	433,048		$	166,210		$	1,709,827		$	330,728		$	90,303		$	2,730,116
Ending balance: individually evaluated for impairment			98						2,063			1,760						3,921
Ending balance: collectively evaluated for impairment			432,950			166,210			1,707,764			328,968			90,303			2,726,195

Schedule of major classifications of loans by past due status


		September 30, 2023
								Greater												Loans > 90
		30-59 Days			60-89 Days			than 90			Total Past									Days and
(Dollars in thousands)		Past Due			Past Due			Days			Due			Current			Total Loans			Accruing
Commercial		$	57		$	5		$	103		$	165		$	404,080		$	404,245		$	60
Municipal															176,935			176,935
Real estate:
Commercial						1,660			392			2,052			1,844,298			1,846,350
Residential			1,032			20			1,041			2,093			355,554			357,647			640
Consumer			795			376			174			1,345			84,447			85,792
Total		$	1,884		$	2,061		$	1,710		$	5,655		$	2,865,314		$	2,870,969		$	700


		December 31, 2022
								Greater												Loans > 90
		30-59 Days			60-89 Days			than 90			Total Past									Days and
(Dollars in thousands)		Past Due			Past Due			Days			Due			Current			Total Loans			Accruing
Commercial		$	137		$	38		$	86		$	261		$	432,787		$	433,048		$
Municipal															166,210			166,210
Real estate:
Commercial			102			2			334			438			1,709,389			1,709,827
Residential			1,162			128			988			2,278			328,450			330,728			748
Consumer			690			199			120			1,009			89,294			90,303
Total		$	2,091		$	367		$	1,528		$	3,986		$	2,726,130		$	2,730,116		$	748

Schedule of allowance for credit losses on off balance sheet commitments


(Dollars in thousands)			September 30, 2023
Balance at December 31, 2022		$	179
Impact of adopting Topic 326			270
Credit recorded in noninterest expense			(368)
Total allowance for credit losses on off balance sheet commitments		$	81