Loans, net and allowance for credit losses

Schedule of major classifications of loans by past due status


	December 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	$	2,740	$	157	$	838	$	3,735	$	644,367	$	648,102	$
Municipal										187,918		187,918
Real estate:
Commercial		2,800		141		11,164		14,105		2,280,008		2,294,113
Residential		2,390		997		2,477		5,864		545,519		551,383		403
Consumer		2,393		539		492		3,424		129,445		132,869		55
Equipment Financing		639		1,259		815		2,713		176,407		179,120
Total	$	10,962	$	3,093	$	15,786	$	29,841	$	3,963,664	$	3,993,505	$	458


	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 major classification of loans portfolio summarized by credit quality


	As of December 31, 2024
(Dollars in thousands)		2024		2023		2022		2021		2020		Prior		Revolving Loans Amortized Cost Basis		Revolving Loans Converted to Term		Total
Commercial
Pass	$	61,657	$	69,329	$	83,123	$	64,488	$	29,950	$	91,906	$	199,737	$	68	$	600,258
Special Mention		1,273		1,131		686		13,475		2,043		1,261		16,840				36,709
Substandard				300		854		904		85		597		8,395				11,135
Total Commercial		62,930		70,760		84,663		78,867		32,078		93,764		224,972		68		648,102

Municipal
Pass		5,072		6,254		50,886		99,064		9,932		13,816		2,894				187,918
Special Mention
Substandard
Total Municipal		5,072		6,254		50,886		99,064		9,932		13,816		2,894				187,918

Commercial real estate
Pass		161,186		196,779		651,254		525,233		156,970		538,905						2,230,327
Special Mention		1,231		46		2,724		4,361		1,635		24,951						34,948
Substandard				3,276		8,883		1,106		1,704		13,869						28,838
Total Commercial real estate		162,417		200,101		662,861		530,700		160,309		577,725						2,294,113

Residential real estate
Pass		39,488		45,172		77,862		123,154		50,831		106,877		105,867		67		549,318
Special Mention
Substandard								126		296		1,565		78				2,065
Total Residential real estate		39,488		45,172		77,862		123,280		51,127		108,442		105,945		67		551,383

Consumer
Pass		28,872		38,223		38,668		18,963		4,132		2,495		853				132,206
Special Mention
Substandard		65		156		209		124		43		64		2				663
Total Consumer		28,937		38,379		38,877		19,087		4,175		2,559		855				132,869

Equipment Financing
Pass		67,100		66,341		39,323		4,259										177,023
Special Mention				261		125												386
Substandard				697		1,014												1,711
Total Equipment Financing		67,100		67,299		40,462		4,259										179,120

Total Loans	$	365,944	$	427,965	$	955,611	$	855,257	$	257,621	$	796,306	$	334,666	$	135	$	3,993,505

Gross charge-offs
Commercial	$		$	41	$		$	2	$		$	8	$		$		$	51
Municipal
Commercial real estate												282						282
Residential real estate
Consumer		90		245		255		183		32		87						892
Equipment Financing				551		109												660
Total Gross charge-offs	$	90	$	837	$	364	$	185	$	32	$	377	$		$		$	1,885



	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 financing receivable, modified, past due


		At December 31, 2024
(Dollars in thousands)		Current		30-89 Days Past Due		90 Days or More Past Due		Total
Nonaccrual Modified Loans to Borrowers Experiencing Financial Difficulty:
Commercial and Industrial	$		$	408	$		$	408
Total	$		$	408	$		$	408

Schedule of information concerning nonaccrual loans by major loan classification


	December 31, 2024
					Real estate						Equipment
(Dollars in thousands)	Commercial		Municipal		Commercial		Residential		Consumer		Financing		Total
Allowance for credit losses:
Beginning balance	$	2,272	$	788	$	14,153	$	3,782	$	900	$		$	21,895
Non PCD allowance for credit losses at acquisition		2,259		502		4,149		1,785		1,470		4,163		14,328
PCD allowance for credit losses at acquisition		337		71		371		468		320		274		1,841
Charge-offs		(51)				(282)				(892)		(660)		(1,885)
Recoveries		90				69		16		478		141		794
Provisions (Credits)		1,097		(289)		3,344		(1,127)		264		1,514		4,803
Ending balance	$	6,004	$	1,072	$	21,804	$	4,924	$	2,540	$	5,432	$	41,776
Ending balance: individually evaluated for impairment		325				190						434		949
Ending balance: collectively evaluated for impairment	$	5,679	$	1,072	$	21,614	$	4,924	$	2,540	$	4,998	$	40,827
Loans receivable:
Ending balance	$	648,102	$	187,918	$	2,294,113	$	551,383	$	132,869	$	179,120	$	3,993,505
Individually evaluated - collateral dependent - real estate		906				15,326		3,212						19,444
Individually evaluated - collateral dependent - non-real estate		1,007				284						1,429		2,720
Collectively evaluated for impairment	$	646,189	$	187,918	$	2,278,503	$	548,171	$	132,869	$	177,691	$	3,971,341

*See Note 2 - Business Combination and the initial provision for non-PCD loans.


	December 31, 2023
					Real estate
(Dollars in thousands)	Commercial		Municipal		Commercial		Residential		Consumer		Total
Allowance for credit losses:
Beginning balance	$	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		2,682		1,994		14,571		4,039		903		24,189
Charge-offs		(58)				(2,598)				(369)		(3,025)
Recoveries		11				1		24		129		165
(Credits) provisions		(363)		(1,206)		2,179		(281)		237		566
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 for impairment	$	368,394	$	175,304	$	1,860,144	$	359,054	$	82,261	$	2,845,157

The following table represents the allowance for loan losses by major classification of loan and whether the loans were individually or collectively evaluated for impairment at December 31, 2022, prior to the adoption of ASC 326.


	December 31, 2022
					Real estate
(Dollars in thousands)	Commercial		Municipal		Commercial		Residential		Consumer		Total
Allowance for loan losses:
Beginning balance	$	6,498	$	1,955	$	15,928	$	3,209	$	793	$	28,383
Charge-offs		(161)				(284)		(31)		(311)		(787)
Recoveries		40				110		4		171		325
(Credits) provisions		(2,012)		(708)		2,161		(110)		220		(449)
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