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Loans, net and allowance for credit losses (Tables)

3 Months Ended

Mar. 31, 2024

Loans, net and allowance for credit losses

Schedule of major classifications of loans outstanding



(Dollars in thousands)			March 31, 2024		December 31, 2023
Commercial and Industrial		$	461,387		$	368,411
Municipal			173,370			175,304
Total			634,757			543,715
Real estate
Commercial			1,783,851			1,863,118
Residential			361,490			360,803
Total			2,145,341			2,223,921
Consumer
Indirect Auto			71,675			75,389
Consumer Other			6,639			6,872
Total			78,314			82,261
Total		$	2,858,412		$	2,849,897

Schedule of major classifications of loans by past due status


		March 31, 2024
								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		$	219		$	179		$	360		$	758		$	460,629		$	461,387		$
Municipal															173,370			173,370
Real estate:
Commercial			3,079			3			274			3,356			1,780,495			1,783,851
Residential			633			37			1,270			1,940			359,550			361,490			656
Consumer			704			221			125			1,050			77,264			78,314
Total		$	4,635		$	440		$	2,029		$	7,104		$	2,851,308		$	2,858,412		$	656


		December 31, 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		$	53		$	155		$	10		$	218		$	368,193		$	368,411		$
Municipal															175,304			175,304
Real estate:
Commercial			152			5			279			436			1,862,682			1,863,118
Residential			1,456			50			1,610			3,116			357,687			360,803			986
Consumer			1,069			285			85			1,439			80,822			82,261
Total		$	2,730		$	495		$	1,984		$	5,209		$	2,844,688		$	2,849,897		$	986

Schedule of nonaccrual loans



			March 31, 2024
			Total			Nonaccrual with			Nonaccrual with
			Nonaccrual			an Allowance for			no Allowance for
(Dollars in thousands)			Loans			Credit Losses			Credit Losses
Commercial		$	539		$	98		$	441
Municipal
Real estate:
Commercial			5,359						5,359
Residential			882						882
Consumer			276						276
Total		$	7,056		$	98		$	6,958



			December 31, 2023
			Total			Nonaccrual with			Nonaccrual with
			Nonaccrual			an Allowance for			no Allowance for
(Dollars in thousands)			Loans			Credit Losses			Credit Losses
Commercial		$	10		$	10		$
Municipal
Real estate:
Commercial			2,974			1,170			1,804
Residential			760						760
Consumer			218						218
Total		$	3,962		$	1,180		$	2,782

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


		March 31, 2024
								Real estate
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Beginning Balance January 1, 2024		$	2,272		$	788		$	14,153		$	3,782		$	900		$	21,895
Charge-offs			(5)												(103)			(108)
Recoveries			55									2			45			102
(Credits) provisions			(35)			(90)			317			474			42			708
Ending balance		$	2,287		$	698		$	14,470		$	4,258		$	884		$	22,597

		March 31, 2023
								Real estate
(Dollars in thousands)		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 ASC 326			(1,683)			747			(3,344)			987			30			(3,263)
Beginning Balance January 1, 2023			2,682			1,994			14,571			4,059			903			24,209
Charge-offs			(4)												(71)			(75)
Recoveries									1			16			49			66
Provisions (credits)			(197)			324			1,120			(207)			204			1,244
Ending balance		$	2,481		$	2,318		$	15,692		$	3,868		$	1,085		$	25,444

Schedule of major classification of loans portfolio summarized by credit quality


		As of March 31, 2024
(Dollars in thousands)			2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total
Commercial
Pass		$	9,059		$	43,069		$	58,185		$	43,439		$	31,963		$	89,109		$	183,150		$			$	457,974
Special Mention									827			172						49			832						1,880
Substandard						87			38			41						483			884						1,533
Total Commercial			9,059			43,156			59,050			43,652			31,963			89,641			184,866						461,387

Municipal
Pass			2,567			1,378			47,745			94,616			10,719			13,545			2,800						173,370
Special Mention
Substandard
Total Municipal			2,567			1,378			47,745			94,616			10,719			13,545			2,800						173,370

Commercial real estate
Pass			21,826			123,323			528,902			449,088			132,037			516,029									1,771,205
Special Mention									807			893						385									2,085
Substandard						168			1,812			1,329			159			7,093									10,561
Total Commercial real estate			21,826			123,491			531,521			451,310			132,196			523,507									1,783,851

Residential real estate
Pass			3,333			27,735			54,794			65,368			26,107			97,641			85,633			164			360,775
Special Mention
Substandard						4									329			378			4						715
Total Residential real estate			3,333			27,739			54,794			65,368			26,436			98,019			85,637			164			361,490

Consumer
Pass			3,836			24,447			27,204			10,925			4,508			4,480			2,638						78,038
Special Mention
Substandard						24			49			107			52			42			2						276
Total Consumer			3,836			24,471			27,253			11,032			4,560			4,522			2,640						78,314

Total Loans		$	40,621		$	220,235		$	720,363		$	665,978		$	205,874		$	729,234		$	275,943		$	164		$	2,858,412

Gross charge-offs
Commercial		$			$			$			$			$			$	5		$			$			$	5
Municipal
Commercial real estate
Residential real estate
Consumer									56			39						8									103
Total Gross charge-offs		$			$			$	56		$	39		$			$	13		$			$			$	108



		As of December 31, 2023
(Dollars in thousands)			2023			2022			2021			2020			2019			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total
Commercial
Pass		$	9,856		$	38,172		$	28,127		$	29,966		$	44,551		$	82,190		$	131,536		$	650		$	365,048
Special Mention						876			182									49			832						1,939
Substandard			15			19			42						33			534			781						1,424
Total Commercial			9,871			39,067			28,351			29,966			44,584			82,773			133,149			650			368,411

Municipal
Pass			1,888			48,095			94,791			10,804			16			19,652			58						175,304
Special Mention
Substandard
Total Municipal			1,888			48,095			94,791			10,804			16			19,652			58						175,304

Commercial real estate
Pass			156,277			553,754			491,506			143,068			153,426			351,142						117			1,849,290
Special Mention						1,299									360			2,761									4,420
Substandard			169			1,338			1,520			160			697			5,524									9,408
Total Commercial real estate			156,446			556,391			493,026			143,228			154,483			359,427						117			1,863,118

Residential real estate
Pass			17,385			52,093			65,280			27,118			16,652			84,652			83,507			13,490			360,177
Special Mention
Substandard			4									329						288			5						626
Total Residential real estate			17,389			52,093			65,280			27,447			16,652			84,940			83,512			13,490			360,803

Consumer
Pass			27,053			30,307			12,460			5,441			3,107			2,981			694						82,043
Special Mention
Substandard						58			79			31			30			20									218
Total Consumer			27,053			30,365			12,539			5,472			3,137			3,001			694						82,261

Total Loans		$	212,647		$	726,011		$	693,987		$	216,917		$	218,872		$	549,793		$	217,413		$	14,257		$	2,849,897

Gross charge-offs
Commercial		$			$			$			$	21		$			$	33		$	4		$			$	58
Municipal
Commercial real estate																		2,598									2,598
Residential real estate
Consumer						95			101			69			49			55									369
Total Gross charge-offs		$			$	95		$	101		$	90		$	49		$	2,686		$	4		$			$	3,025

Schedule of information concerning nonaccrual loans by major loan classification


		March 31, 2024
								Real estate
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Ending balance		$	2,287		$	698		$	14,470		$	4,258		$	884		$	22,597
Ending balance: individually evaluated			46															46
Ending balance: collectively evaluated		$	2,241		$	698		$	14,470		$	4,258		$	884		$	22,551
Loans receivable:
Ending balance		$	461,387		$	173,370		$	1,783,851		$	361,490		$	78,314		$	2,858,412
Individually evaluated - collateral dependent - real estate			447						5,359			1,541						7,347
Individually evaluated - collateral dependent - non-real estate			98															98
Collectively evaluated			460,842			173,370			1,778,492			359,949			78,314			2,850,967



		December 31, 2023
								Real estate
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for loan losses:
Ending balance		$	2,272		$	788		$	14,153		$	3,782		$	900		$	21,895
Ending balance: individually evaluated for impairment			10						21									31
Ending balance: collectively evaluated for impairment		$	2,262		$	788		$	14,132		$	3,782		$	900		$	21,864
Loans receivable:
Ending balance		$	368,411		$	175,304		$	1,863,118		$	360,803		$	82,261		$	2,849,897
Individually evaluated - collateral dependent - real estate			7						2,974			1,749						4,730
Individually evaluated - collateral dependent - non-real estate			10															10
Collectively evaluated			368,394			175,304			1,860,144			359,054			82,261			2,845,157

Schedule of allowance for credit losses on off balance sheet commitments


(Dollars in thousands)			March 31, 2024			March 31, 2023
Beginning balance		$	43		$	179
Impact of adopting Topic 326						270
Provision for (credit to) credit losses recorded in noninterest expense			487			(185)
Total allowance for credit losses on off balance sheet commitments		$	530		$	264

Summary of contractual amounts of off-balance sheet commitments

The contractual amounts of off-balance sheet commitments at March 31, 2024 and 2023 are as follows:


(Dollars in thousands)		2024			2023
Commitments to extend credit		$	103,497		$	266,201
Unused portions of lines of credit			370,073			363,389
Standby letters of credit			61,766			54,609
		$	535,336		$	684,199