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Loans and Allowance for Loan Losses (Tables)

3 Months Ended

Mar. 31, 2019

Receivables [Abstract]

Past Due Financing Receivables

The following table shows outstanding loans by class and payment aging as of March 31, 2019 and December 31, 2018.

Loan Aging Analysis by Class
(in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Total
March 31, 2019
30-59 days past due	$	320		$	1,584		$	—		$	—		$	517		$	—		$	102		$	2,523
60-89 days past due	—			—			—			—			108			—			—			108
90 days or more past due	—			—			—			—			84			—			—			84
Total past due	320			1,584			—			—			709			—			102			2,715
Current	237,326			309,004			878,494			72,271			123,803			117,558			31,367			1,769,823
Total loans 2	$	237,646		$	310,588		$	878,494		$	72,271		$	124,512		$	117,558		$	31,469		$	1,772,538
Non-accrual loans 1	$	309		$	—		$	—		$	—		$	346		$	—		$	64		$	719
December 31, 2018
30-59 days past due	$	5		$	—		$	1,004		$	—		$	—		$	—		$	112		$	1,121
60-89 days past due	—			—			—			—			—			—			—			—
90 days or more past due	—			—			—			—			—			—			—			—
Total past due	5			—			1,004			—			—			—			112			1,121
Current	230,734			313,277			872,406			76,423			124,696			117,847			27,360			1,762,743
Total loans 2	$	230,739		$	313,277		$	873,410		$	76,423		$	124,696		$	117,847		$	27,472		$	1,763,864
Non-accrual loans 1	$	319		$	—		$	—		$	—		$	313		$	—		$	65		$	697

¹ Includes no purchased credit impaired ("PCI") loans at March 31, 2019 and December 31, 2018. Amounts exclude accreting PCI loans of $2.1 million at March 31, 2019 and December 31, 2018 as we have a reasonable expectation about future cash flows to be collected and we continue to recognize accretable yield on these loans in interest income. There were no accruing loans past due more than ninety days at March 31, 2019 or December 31, 2018.

² Amounts include net deferred loan origination costs of $684 thousand and $635 thousand at March 31, 2019 and December 31, 2018, respectively. Amounts are also net of unaccreted purchase discounts on non-PCI loans of $666 thousand and $708 thousand at March 31, 2019 and December 31, 2018, respectively.

Financing Receivable Credit Quality Indicators

The following table represents an analysis of the carrying amount in loans, net of deferred fees and costs and purchase premiums or discounts, by internally assigned risk grades, including PCI loans, at March 31, 2019 and December 31, 2018.

Credit Risk Profile by Internally Assigned Risk Grade
(in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Purchased credit-impaired			Total
March 31, 2019
Pass	$	226,164		$	294,713		$	875,562		$	69,580		$	122,578		$	117,558		$	31,312		$	2,098		$	1,739,565
Special Mention	10,312			4,613			2,116			—			1,121			—			—			—			18,162
Substandard	1,144			10,086			—			2,691			733			—			157			—			14,811
Total loans	$	237,620		$	309,412		$	877,678		$	72,271		$	124,432		$	117,558		$	31,469		$	2,098		$	1,772,538
December 31, 2018
Pass	$	219,625		$	299,998		$	870,443		$	73,735		$	122,844		$	117,847		$	27,312		$	2,112		$	1,733,916
Special Mention	9,957			4,106			2,156			—			1,121			—			—			—			17,340
Substandard	1,126			7,986			—			2,688			648			—			160			—			12,608
Total loans	$	230,708		$	312,090		$	872,599		$	76,423		$	124,613		$	117,847		$	27,472		$	2,112		$	1,763,864

Troubled Debt Restructurings on Financing Receivables

The following table summarizes the carrying amount of TDR loans by loan class as of March 31, 2019 and December 31, 2018.

(in thousands)
Recorded Investment in Troubled Debt Restructurings 1	March 31, 2019			December 31, 2018
Commercial and industrial	$	1,198		$	1,506
Commercial real estate, owner-occupied	7,001			6,993
Commercial real estate, investor	1,812			1,821
Construction	2,691			2,688
Home equity	251			251
Other residential	460			462
Installment and other consumer 2	675			685
Total	$	14,088		$	14,406

¹There were no acquired TDR loans as of March 31, 2019 or December 31, 2018.

² There were two TDR loans on non-accrual status with recorded investments totaling $64 thousand and $65 thousand at March 31, 2019 and December 31, 2018, respectively.

The following table presents information for loans modified in a TDR during the presented periods, including the number of modified contracts, the recorded investment in the loans prior to modification, and the recorded investment in the loans at period end after being restructured. The table excludes fully charged-off TDR loans and loans modified in a TDR and subsequently paid-off during the years presented.

(dollars in thousands)	Number of Contracts Modified		Pre-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment			Post-Modification Outstanding Recorded Investment at Period End
TDRs during the three months ended March 31, 2019:
None	—		$	—		$	—		$	—
TDRs during the three months ended March 31, 2018:
None	—		$	—		$	—		$	—

Impaired Financing Receivables

The following tables summarize information by class on impaired loans and their related allowances. Total impaired loans include non-accrual loans, accruing TDR loans and accreting PCI loans that have experienced post-acquisition declines in cash flows expected to be collected.

(in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Total
March 31, 2019
Recorded investment in impaired loans:
With no specific allowance recorded	$	328		$	—		$	—		$	2,691		$	346		$	460		$	109		$	3,934
With a specific allowance recorded	1,179			7,001			1,812			—			251			—			566			10,809
Total recorded investment in impaired loans	$	1,507		$	7,001		$	1,812		$	2,691		$	597		$	460		$	675		$	14,743
Unpaid principal balance of impaired loans	$	1,489		$	6,993		$	1,801		$	2,687		$	595		$	459		$	674		$	14,698
Specific allowance	424			161			47			—			5			—			67			704
Average recorded investment in impaired loans during the quarter ended March 31, 2019	1,666			6,997			1,816			2,690			580			461			680			14,890
Interest income recognized on impaired loans during the quarter ended March 31, 20191	22			66			20			42			4			5			6			165
Average recorded investment in impaired loans during the quarter ended March 31, 2018	2,216			7,003			2,012			2,972			746			1,070			717			16,736
Interest income recognized on impaired loans during the quarter ended March 31, 20181	155			66			22			38			5			13			7			306

¹ No interest income on impaired loans was recognized on a cash basis during the three months ended March 31, 2019. Interest income recognized on a cash basis totaled $128 thousand in the three months ended March 31, 2018 and was related to the pay-off of two non-accrual commercial PCI loans.

(in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Total
December 31, 2018
Recorded investment in impaired loans:
With no specific allowance recorded	$	303		$	—		$	—		$	2,688		$	313		$	462		$	111		$	3,877
With a specific allowance recorded	1,522			6,993			1,821			—			251			—			574			11,161
Total recorded investment in impaired loans	$	1,825		$	6,993		$	1,821		$	2,688		$	564		$	462		$	685		$	15,038
Unpaid principal balance of impaired loans	$	1,813		$	6,993		$	1,812		$	2,688		$	562		$	461		$	684		$	15,013
Specific allowance	$	466		$	189		$	45		$	—		$	5		$	—		$	73		$	778

Allowance for Credit Losses on Financing Receivables

The following tables disclose activity in the allowance for loan losses ("ALLL") and the recorded investment in loans by class, as well as the related ALLL disaggregated by impairment evaluation method.

Allowance for Loan Losses Rollforward for the Period
(in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Unallocated			Total
Three months ended March 31, 2019
Beginning balance	$	2,436		$	2,407		$	7,703		$	756		$	915		$	800		$	310		$	494		$	15,821
Provision (reversal)	180			(49		)	63			(52		)	8			—			30			(180		)	—
Charge-offs	(9		)	—			—			—			—			—			—			—			(9		)
Recoveries	5			—			—			—			—			—			—			—			5
Ending balance	$	2,612		$	2,358		$	7,766		$	704		$	923		$	800		$	340		$	314		$	15,817
Three months ended March 31, 2018
Beginning balance	$	3,654		$	2,294		$	6,475		$	681		$	1,031		$	536		$	378		$	718		$	15,767
Provision (reversal)	35			(214		)	(20		)	16			(52		)	7			(27		)	255			—
Charge-offs	—			—			—			—			—			—			—			—			—
Recoveries	4			—			—			—			—			—			—			—			4
Ending balance	$	3,693		$	2,080		$	6,455		$	697		$	979		$	543		$	351		$	973		$	15,771

Allowance for Loan Losses and Recorded Investment in Loans
(dollars in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Unallocated			Total
March 31, 2019
Ending ALLL related to loans collectively evaluated for impairment	$	2,188		$	2,197		$	7,719		$	704		$	918		$	800		$	273		$	314		$	15,113
Ending ALLL related to loans individually evaluated for impairment	424			161			47			—			5			—			67			—			704
Ending ALLL related to PCI loans	—			—			—			—			—			—			—			—			—
Ending balance	$	2,612		$	2,358		$	7,766		$	704		$	923		$	800		$	340		$	314		$	15,817
Recorded Investment:
Collectively evaluated for impairment	$	236,113		$	302,411		$	875,866		$	69,580		$	123,835		$	117,098		$	30,794		$	—		$	1,755,697
Individually evaluated for impairment	1,507			7,001			1,812			2,691			597			460			675			—			14,743
PCI loans	26			1,176			816			—			80			—			—			—			2,098
Total	$	237,646		$	310,588		$	878,494		$	72,271		$	124,512		$	117,558		$	31,469		$	—		$	1,772,538
Ratio of allowance for loan losses to total loans	1.10		%	0.76		%	0.88		%	0.97		%	0.74		%	0.68		%	1.08		%	NM			0.89		%
Allowance for loan losses to non-accrual loans	845		%	NM			NM			NM			267		%	NM			531		%	NM			2,200		%

NM - Not Meaningful

Allowance for Loan Losses and Recorded Investment in Loans
(dollars in thousands)	Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor			Construction			Home equity			Other residential			Installment and other consumer			Unallocated			Total
December 31, 2018
Ending ALLL related to loans collectively evaluated for impairment	$	1,970		$	2,218		$	7,658		$	756		$	910		$	800		$	237		$	494		$	15,043
Ending ALLL related to loans individually evaluated for impairment	466			189			45			—			5			—			73			—			778
Ending ALLL related to purchased credit-impaired loans	—			—			—			—			—			—			—			—			—
Ending balance	$	2,436		$	2,407		$	7,703		$	756		$	915		$	800		$	310		$	494		$	15,821
Recorded Investment:
Collectively evaluated for impairment	$	228,883		$	305,097		$	870,778		$	73,735		$	124,049		$	117,385		$	26,787		$	—		$	1,746,714
Individually evaluated for impairment	1,825			6,993			1,821			2,688			564			462			685			—			15,038
Purchased credit-impaired	31			1,187			811			—			83			—			—			—			2,112
Total	$	230,739		$	313,277		$	873,410		$	76,423		$	124,696		$	117,847		$	27,472		$	—		$	1,763,864
Ratio of allowance for loan losses to total loans	1.06		%	0.77		%	0.88		%	0.99		%	0.73		%	0.68		%	1.13		%	NM			0.90		%
Allowance for loan losses to non-accrual loans	NM			NM			NM			NM			292		%	NM			NM			NM			2,270		%

NM - Not Meaningful

Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period

The following table reflects the unpaid principal balance and related carrying value of PCI loans.

PCI Loans	March 31, 2019						December 31, 2018
(in thousands)	Unpaid Principal Balance			Carrying Value			Unpaid Principal Balance			Carrying Value
Commercial and industrial	$	78		$	26		$	89		$	31
Commercial real estate, owner occupied	1,233			1,176			1,247			1,187
Commercial real estate, investor	1,025			816			1,033			811
Home equity	205			80			210			83
Total purchased credit-impaired loans	$	2,541		$	2,098		$	2,579		$	2,112

Accretable Yield Activity

The activities in the accretable yield, or income expected to be earned over the remaining lives of the PCI loans were as follows:

Accretable Yield	Three months ended
(in thousands)	March 31, 2019			March 31, 2018
Balance at beginning of period	$	934		$	1,254
Accretion	(59		)	(112		)
Balance at end of period	$	875		$	1,142

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