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Loans, net and allowance for credit losses (Tables)

6 Months Ended

Jun. 30, 2024

Loans, net and allowance for credit losses

Schedule of major classifications of loans outstanding



(Dollars in thousands)			June 30, 2024		December 31, 2023
Commercial and Industrial		$	461,014		$	368,411
Municipal			170,991			175,304
Total			632,005			543,715
Real estate
Commercial			1,793,652			1,863,118
Residential			369,671			360,803
Total			2,163,323			2,223,921
Consumer
Indirect Auto			66,792			75,389
Consumer Other			7,433			6,872
Total			74,225			82,261
Total		$	2,869,553		$	2,849,897

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


		June 30, 2024
								Real estate
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Beginning Balance April 1, 2024		$	2,287		$	698		$	14,470		$	4,258		$	884		$	22,597
Charge-offs			(41)												(94)			(135)
Recoveries			25									2			38			65
(Credits) provisions			(100)			13			686			(30)			27			596
Ending balance		$	2,171		$	711		$	15,156		$	4,230		$	855		$	23,123

		June 30, 2023
								Real estate
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for loan losses:
Beginning Balance April 1, 2023		$	2,481		$	2,318		$	15,692		$	3,868		$	1,085		$	25,444
Charge-offs															(77)			(77)
Recoveries			5									3			44			52
Provisions (credits)			265			(1,491)			(731)			(104)			(140)			(2,201)
Ending balance		$	2,751		$	827		$	14,961		$	3,767		$	912		$	23,218


		June 30, 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			(46)												(197)			(243)
Recoveries			80									4			83			167
(Credits) provisions			(135)			(77)			1,003			444			69			1,304
Ending balance		$	2,171		$	711		$	15,156		$	4,230		$	855		$	23,123

		June 30, 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)			967			30			(3,283)
Beginning Balance January 1, 2023			2,682			1,994			14,571			4,039			903			24,189
Charge-offs			(4)												(148)			(152)
Recoveries			5						1			19			93			118
Provisions (credits)			68			(1,167)			389			(291)			64			(937)
Ending balance		$	2,751		$	827		$	14,961		$	3,767		$	912		$	23,218

Schedule of information concerning nonaccrual loans by major loan classification


		June 30, 2024
								Real estate
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Total
Allowance for credit losses:
Ending balance		$	2,171		$	711		$	15,156		$	4,230		$	855		$	23,123
Ending balance: individually evaluated			7						415									422
Ending balance: collectively evaluated		$	2,164		$	711		$	14,741		$	4,230		$	855		$	22,701
Loans receivable:
Ending balance		$	461,014		$	170,991		$	1,793,652		$	369,671		$	74,225		$	2,869,553
Individually evaluated - collateral dependent - real estate			378						5,139			1,327						6,844
Individually evaluated - collateral dependent - non-real estate			7															7
Collectively evaluated			460,629			170,991			1,788,513			368,344			74,225			2,862,702



		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 nonaccrual loans



			June 30, 2024
			Total			Nonaccrual with			Nonaccrual with
			Nonaccrual			an Allowance for			no Allowance for
(Dollars in thousands)			Loans			Credit Losses			Credit Losses
Commercial		$	378		$	7		$	371
Municipal
Real estate:
Commercial			5,138			4,923			215
Residential			1,327						1,327
Consumer			274						274
Total		$	7,117		$	4,930		$	2,187



			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 major classification of loans portfolio summarized by credit quality


		As of June 30, 2024
(Dollars in thousands)			2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total
Commercial
Pass		$	13,103		$	36,862		$	67,146		$	65,299		$	35,316		$	91,621		$	141,169		$	139		$	450,655
Special Mention			1,253			1,142			733			246			2,113			1,451			1,777						8,715
Substandard						32			62			40						497			1,013						1,644
Total Commercial			14,356			38,036			67,941			65,585			37,429			93,569			143,959			139			461,014

Municipal
Pass			1,106			1,307			49,200			93,134			10,433			15,773			38						170,991
Special Mention
Substandard
Total Municipal			1,106			1,307			49,200			93,134			10,433			15,773			38						170,991

Commercial real estate
Pass			67,209			131,565			532,372			437,529			127,512			461,610						92			1,757,889
Special Mention						2,360			967			1,138			1,061			19,988									25,514
Substandard						167			1,845			1,318			157			6,762									10,249
Total Commercial real estate			67,209			134,092			535,184			439,985			128,730			488,360						92			1,793,652

Residential real estate
Pass			12,525			28,059			50,687			64,295			25,489			95,395			91,919			60			368,429
Special Mention
Substandard						4									307			927			4						1,242
Total Residential real estate			12,525			28,063			50,687			64,295			25,796			96,322			91,923			60			369,671

Consumer
Pass			7,199			22,998			24,658			9,795			3,842			3,942			1,517						73,951
Special Mention
Substandard						60			31			115			35			33									274
Total Consumer			7,199			23,058			24,689			9,910			3,877			3,975			1,517						74,225

Total Loans		$	102,395		$	224,556		$	727,701		$	672,909		$	206,265		$	697,999		$	237,437		$	291		$	2,869,553

Gross charge-offs
Commercial		$			$	41		$			$			$			$	5		$			$			$	46
Municipal
Commercial real estate
Residential real estate
Consumer						15			81			60			11			30									197
Total Gross charge-offs		$			$	56		$	81		$	60		$	11		$	35		$			$			$	243



		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 major classifications of loans by past due status


		June 30, 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		$	463		$	290		$	7		$	760		$	460,254		$	461,014		$
Municipal															170,991			170,991
Real estate:
Commercial			3,871			2,086			4,003			9,960			1,783,692			1,793,652
Residential			1,395			101			713			2,209			367,462			369,671
Consumer			865			313			134			1,312			72,913			74,225
Total		$	6,594		$	2,790		$	4,857		$	14,241		$	2,855,312		$	2,869,553		$


		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 allowance for credit losses on off balance sheet commitments


			For the three months ended
(Dollars in thousands)			June 30, 2024			June 30, 2023
Beginning balance		$	530		$	264
Provision for (credit to) credit losses recorded in noninterest expense			(196)			(171)
Total allowance for credit losses on off balance sheet commitments		$	334		$	93

			For the six months ended
(Dollars in thousands)			June 30, 2024			June 30, 2023
Beginning balance		$	43		$	179
Impact of adopting Topic 326						270
Provision for (credit to) credit losses recorded in noninterest expense			291			(356)
Total allowance for credit losses on off balance sheet commitments		$	334		$	93

Summary of contractual amounts of off-balance sheet commitments

The contractual amounts of off-balance sheet commitments at June 30, 2024 and 2023 are as follows:


(Dollars in thousands)		2024			2023
Commitments to extend credit		$	86,125		$	228,887
Unused portions of lines of credit			383,483			368,372
Standby letters of credit			43,659			52,826
		$	513,267		$	650,085