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Business Combination (Tables)
 6 Months Ended
Jun. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
Business Combination
The total merger consideration of $83.8 million is allocated to Traditions’ tangible and intangible assets and liabilities based on their fair values as follows:
(In thousands)Traditions Bancorp, Inc.
Book Value
1/31/2025		Acquisition Accounting AdjustmentsTraditions Bancorp, Inc.
Fair Value
1/31/2025
Consideration
Common stock$83,649 
Cash consideration157
Fair value of total consideration transferred$83,806 
Recognized amounts of identifiable assets acquired and liabilities assumed
Cash and cash equivalents$36,363 $— $36,363 
Investment securities, available for sale98,484 (818)97,666 
Loans held for sale12,512 — 12,512 
Total loans673,805 (25,343)648,462 
Less: Allowance for credit losses(4,045)2,581 (1,464)
Loans, net669,760 (22,762)646,998 
Premises and equipment, net7,235 (362)6,873 
Right of use asset2,932 — 2,932 
Restricted investment in bank stocks3,323 — 3,323 
Investment in bank-owned life insurance16,384 — 16,384 
Core deposit intangibles— 18,854 18,854 
Other assets14,147 1,398 15,545 
Total assets acquired$861,140 $(3,690)$857,450 
Deposits$741,723 $(215)$741,508 
Borrowings40,000 188 40,188 
Lease liability3,125 — 3,125 
Allowance for unfunded commitments118 852 970 
Other liabilities8,158 (41)8,117 
Total liabilities assumed$793,124 $784 $793,908 
Total identifiable net assets$68,016 $(4,474)$63,542 
Goodwill$20,264 
Financing Receivable, Purchased with Credit Deterioration The following table presents details related to the fair value of acquired PCD loans at the Acquisition date:
(In thousands)Unpaid Principal BalanceTotal Premium/(Discount)Gross Up for PCD Allowance for Credit LossesFair Value of PCD Loans
PCD Accruing$140,053 $(5,359)$1,464 $136,158 
PCD Non-Accruing2,962 (528)— 2,434 
Total PCD Loans$143,015 $(5,887)$1,464 $138,592 
Business Combination, Pro Forma Information
The following table presents supplemental pro forma information for the three and six months ended June 30, 2025 and 2024 as if the acquisition had occurred January 1, 2024. The unaudited pro forma information includes acquisition accounting adjustments for interest income on loans acquired, amortization of core deposit intangibles arising from the transaction, depreciation expense on property acquired, interest expense of deposits acquired, and the related income tax effects. The pro forma financial information is not necessarily indicative of the results of operations that would have occurred had the
transactions been affected on the assumed dates. In addition, the unaudited proforma information excludes merger-related expenses and the provision for credit losses on non-PCD loans at the Acquisition date, and does not reflect management’s estimate of any revenue-enhancing opportunities or anticipated cost savings as a result of the integration:
Three months ended June 30,Six Months Ended June 30,
(In thousands)2025202420252024
Net interest income$30,550 $29,234 $61,698 $57,986 
Net income12,726 14,140 24,156 23,397