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Loans, net and allowance for credit losses (Tables)

6 Months Ended

Jun. 30, 2025

Loans, net and allowance for credit losses

Schedule of major classifications of loans outstanding


(Dollars in thousands)		June 30, 2025			December 31, 2024
Commercial
Commercial and Industrial		$	678,539		$	648,102
Municipal			194,529			187,918
Total			873,068			836,020
Real estate
Commercial			2,252,574			2,294,113
Residential			573,864			551,383
Total			2,826,438			2,845,496
Consumer
Indirect Auto			104,618			117,914
Consumer Other			13,929			14,955
Total			118,547			132,869
Equipment Financing			179,472			179,120
Total		$	3,997,525		$	3,993,505

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


		June 30, 2025
								Real estate									Equipment
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Financing			Total
Allowance for credit losses:
Beginning Balance April 1, 2025		$	6,422		$	1,249		$	20,861		$	5,069		$	2,281		$	5,172		$	41,054
Charge-offs			(415)						(62)						(259)			(415)			(1,151)
Recoveries			292						566			64			145			159			1,226
(Credits) provisions			(76)			197			(745)			(127)			14			498			(239)
Ending balance		$	6,223		$	1,446		$	20,620		$	5,006		$	2,181		$	5,414		$	40,890

		June 30, 2024
								Real estate									Equipment
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Financing			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, 2025
								Real estate									Equipment
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Financing			Total
Allowance for credit losses:
Beginning Balance January 1, 2025		$	6,004		$	1,072		$	21,804		$	4,924		$	2,540		$	5,432		$	41,776
Charge-offs			(572)						(62)			(92)			(646)			(1,012)			(2,384)
Recoveries			305						566			65			318			283			1,537
Provisions (Credits)			486			374			(1,688)			109			(31)			711			(39)
Ending balance		$	6,223		$	1,446		$	20,620		$	5,006		$	2,181		$	5,414		$	40,890

		June 30, 2024
								Real estate									Equipment
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Financing			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

Schedule of information concerning nonaccrual loans by major loan classification


		June 30, 2025
								Real estate									Equipment
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Financing			Total
Allowance for credit losses:
Ending balance		$	6,223		$	1,446		$	20,620		$	5,006		$	2,181		$	5,414		$	40,890
Ending balance: individually evaluated			286															385			671
Ending balance: collectively evaluated			5,937			1,446			20,620			5,006			2,181			5,029			40,219
Loans receivable:
Ending balance		$	678,539		$	194,529		$	2,252,574		$	573,864		$	118,547		$	179,472		$	3,997,525
Individually evaluated - collateral dependent - real estate			1,718						10,330			1,960									14,008
Individually evaluated - collateral dependent - non-real estate			376						931									1,471			2,778
Collectively evaluated			676,445			194,529			2,241,313			571,904			118,547			178,001			3,980,739


		December 31, 2024
								Real estate									Equipment
(Dollars in thousands)		Commercial			Municipal			Commercial			Residential			Consumer			Financing			Total
Allowance for loan losses:
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			646,189			187,918			2,278,503			548,171			132,869			177,691			3,971,341

Schedule of nonaccrual loans



			June 30, 2025
			Total			Nonaccrual with			Nonaccrual with
			Nonaccrual			an Allowance for			no Allowance for
(Dollars in thousands)			Loans			Credit Losses			Credit Losses
Commercial		$	2,094		$	906		$	1,188
Municipal
Real estate:
Commercial			11,261						11,261
Residential			1,885						1,885
Consumer			699						699
Equipment Financing			1,451			1,196			255
Total		$	17,390		$	2,102		$	15,288



			December 31, 2024
			Total			Nonaccrual with			Nonaccrual with
			Nonaccrual			an Allowance for			no Allowance for
(Dollars in thousands)			Loans			Credit Losses			Credit Losses
Commercial		$	1,907		$	343		$	1,564
Municipal
Real estate:
Commercial			15,609			2,574			13,035
Residential			2,809						2,809
Consumer			744						744
Equipment Financing			1,430			819			611
Total		$	22,499		$	3,736		$	18,763

Schedule of major classification of loans portfolio summarized by credit quality


		As of June 30, 2025
(Dollars in thousands)			2025			2024			2023			2022			2021			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total
Commercial
Pass		$	53,110		$	67,936		$	60,956		$	71,046		$	55,199		$	117,515		$	215,243		$	128		$	641,133
Special Mention			378			1,203			1,119			550			4,228			2,849			16,611			906			27,844
Substandard									470			643			808			388			7,253						9,562
Total Commercial			53,488			69,139			62,545			72,239			60,235			120,752			239,107			1,034			678,539

Municipal
Pass			10,194			10,414			1,387			49,464			96,720			24,803			1,547						194,529
Special Mention
Substandard
Total Municipal			10,194			10,414			1,387			49,464			96,720			24,803			1,547						194,529

Commercial real estate
Pass			129,836			151,578			187,238			609,100			472,097			636,185						399			2,186,433
Special Mention			581			96			304			1,207			7,060			26,763						89			36,100
Substandard						1,222			3,517			11,322			4,214			9,766									30,041
Total Commercial real estate			130,417			152,896			191,059			621,629			483,371			672,714						488			2,252,574

Residential real estate
Pass			28,548			38,840			42,289			70,653			109,201			160,240			122,925						572,696
Special Mention
Substandard															123			967			78						1,168
Total Residential real estate			28,548			38,840			42,289			70,653			109,324			161,207			123,003						573,864

Consumer
Pass			14,182			24,671			30,695			29,602			13,655			4,170			835						117,810
Special Mention
Substandard						36			102			245			173			178			3						737
Total Consumer			14,182			24,707			30,797			29,847			13,828			4,348			838						118,547

Equipment Financing
Pass			30,875			60,616			54,862			29,742			1,304												177,399
Special Mention									148			20															168
Substandard			246			226			844			589															1,905
Total Equipment Financing			31,121			60,842			55,854			30,351			1,304												179,472

Total Loans		$	267,950		$	356,838		$	383,931		$	874,183		$	764,782		$	983,824		$	364,495		$	1,522		$	3,997,525

Gross charge-offs
Commercial		$			$			$			$	24		$	57		$	491		$			$			$	572
Municipal
Commercial real estate												62															62
Residential real estate												92															92
Consumer						104			206			256			56			24									646
Equipment Financing									559			453															1,012
Total Gross charge-offs		$			$	104		$	765		$	887		$	113		$	515		$			$			$	2,384



		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

Schedule of major classifications of loans by past due status


		June 30, 2025
								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		$	648		$	200		$	1,922		$	2,770		$	675,769		$	678,539		$
Municipal															194,529			194,529
Real estate:
Commercial			5,049			411			6,984			12,444			2,240,130			2,252,574
Residential			1,599			650			1,504			3,753			570,111			573,864			70
Consumer			2,154			448			312			2,914			115,633			118,547			2
Equipment Financing			1,507			426			424			2,357			177,115			179,472
Total		$	10,957		$	2,135		$	11,146		$	24,238		$	3,973,287		$	3,997,525		$	72


		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

Schedule of allowance for credit losses on off balance sheet commitments


			For the Three Months Ended
(Dollars in thousands)			June 30, 2025			June 30, 2024
Beginning balance		$	677		$	530
Provision for (credit to) credit losses recorded in noninterest expense			172			(196)
Total allowance for credit losses on off balance sheet commitments		$	849		$	334

			For the Six Months Ended
(Dollars in thousands)			June 30, 2025			June 30, 2024
Beginning balance		$	880		$	43
Charge-off			(1)
(Credit to) provision for credit losses recorded in noninterest expense			(30)			291
Total allowance for credit losses on off balance sheet commitments		$	849		$	334

Summary of contractual amounts of off-balance sheet commitments

The contractual amounts of off-balance sheet commitments at June 30, 2025 and December 31, 2024 are as follows:


(Dollars in thousands)		June 30, 2025			December 31, 2024
Commitments to extend credit		$	603,551		$	589,725
Unused portions of lines of credit			163,600			150,840
Standby letters of credit			69,775			60,353
		$	836,926		$	800,918

Summary loans whose terms have been modified resulting in troubled debt restructurings

Other-Than-Insignificant Payment Delay

For the six months ended June 30, 2025 and June 30, 2024

2025

2024

Number
of

Amortized Cost

% of Total Class of Financing

Related

Number
of

Amortized Cost

% of Total Class of Financing

Related

(Dollars in thousands)

Loans

Basis

Receivable

Reserve

Loans

Basis

Receivable

Reserve

Nonaccrual Modified Loans to Borrowers Experiencing Financial Difficulty:

Commercial and industrial

1

$

242

0.036%

$

$

$

Total

$

242

$

$

$

Schedule of financing receivable, modified, financial effect



		Other-Than-Insignificant Payment Delay
(Dollars in thousands)		No. of Loans		Financial Effect
For the Six Months Ended June 30, 2025
Nonaccrual Modified Loans to Borrowers Experiencing Financial Difficulty:
Commercial and Industrial		1		Modified principal and interest payment to interest only for 4 months

Total		1
For the Six Months Ended June 30, 2024
Nonaccrual Modified Loans to Borrowers Experiencing Financial Difficulty:
Commercial and Industrial
Total

Schedule of financing receivable, modified, past due

For the six months ended June 30, 2025

(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

$

$

$

242

$

242

Total

$

$

$

242

$

242

For the six months ended June 30, 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

$

$

$

$

Total

$

$

$

$