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Loans and Allowance for Loan Losses - (Tables)

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Past Due Financing Receivables

The following table shows outstanding loans by class and payment aging as of September 30, 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
September 30, 2019
30-59 days past due	$	—		$	—		$	—		$	—		$	440		$	—		$	153		$	593
60-89 days past due	—			—			—			—			94			—			—			94
90 days or more past due	20			—			—			—			73			—			—			93
Total past due	20			—			—			—			607			—			153			780
Current	260,808			310,486			896,066			50,254			121,207			130,781			28,308			1,797,910
Total loans 2	$	260,828		$	310,486		$	896,066		$	50,254		$	121,814		$	130,781		$	28,461		$	1,798,690
Non-accrual loans 1	$	195		$	—		$	—		$	—		$	167		$	—		$	60		$	422
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 September 30, 2019 and December 31, 2018. Amounts exclude accreting PCI loans with carrying values totaling $2.1 million at September 30, 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 September 30, 2019 or December 31, 2018.

² Amounts include net deferred loan origination costs of $980 thousand and $635 thousand at September 30, 2019 and December 31, 2018, respectively. Amounts are also net of unaccreted purchase discounts on non-PCI loans of $669 thousand and $708 thousand at September 30, 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 September 30, 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
September 30, 2019
Pass	$	219,346		$	290,074		$	893,574		$	50,254		$	120,400		$	130,781		$	28,313		$	2,059		$	1,734,801
Special Mention	41,092			10,198			1,664			—			1,000			—			—			—			53,954
Substandard	386			9,061			—			—			340			—			148			—			9,935
Total loans	$	260,824		$	309,333		$	895,238		$	50,254		$	121,740		$	130,781		$	28,461		$	2,059		$	1,798,690
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 September 30, 2019 and December 31, 2018.

(in thousands)
Recorded Investment in Troubled Debt Restructurings 1	September 30, 2019			December 31, 2018
Commercial and industrial	$	1,139		$	1,506
Commercial real estate, owner-occupied	6,999			6,993
Commercial real estate, investor	1,786			1,821
Construction	880			2,688
Home equity	251			251
Other residential	454			462
Installment and other consumer	653			685
Total	$	12,162		$	14,406

¹There were no acquired TDR loans as of September 30, 2019 or December 31, 2018. TDR loans on non-accrual status totaled $233 thousand and $65 thousand at September 30, 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 September 30, 2019:
None	—		$	—		$	—		$	—
TDRs during the three months ended September 30, 2018:
None	—		$	—		$	—		$	—

TDRs during the nine months ended September 30, 2019:
Commercial and industrial	1		$	298		$	298		$	173
TDRs during the nine months ended September 30, 2018:
Commercial and industrial	2		$	254		$	245		$	235

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
September 30, 2019
Recorded investment in impaired loans:
With no specific allowance recorded	$	375		$	—		$	—		$	—		$	168		$	454		$	101		$	1,098
With a specific allowance recorded	785			6,999			1,786			880			251			—			552			11,253
Total recorded investment in impaired loans	$	1,160		$	6,999		$	1,786		$	880		$	419		$	454		$	653		$	12,351
Unpaid principal balance of impaired loans	$	1,140		$	6,993		$	1,776		$	876		$	417		$	453		$	652		$	12,307
Specific allowance	183			85			45			12			5			—			59			389
Average recorded investment in impaired loans during the quarter ended September 30, 2019	1,324			7,000			1,791			684			413			456			659			12,327
Interest income recognized on impaired loans during the quarter ended September 30, 20191	16			67			20			400			9			4			6			522
Average recorded investment in impaired loans during the nine months ended September 30, 2019	1,495			6,998			1,804			1,687			497			458			670			13,609
Interest income recognized on impaired loans during the nine months ended September 30, 20191	56			199			59			456			42			14			18			844
Average recorded investment in impaired loans during the quarter ended September 30, 2018	1,840			7,000			1,837			2,690			651			987			700			15,705
Interest income recognized on impaired loans during the quarter ended September 30, 20181	31			67			20			39			5			13			7			182
Average recorded investment in impaired loans during the nine months ended September 30, 2018	2,019			7,002			1,925			2,831			698			1,029			708			16,212
Interest income recognized on impaired loans during the nine months ended September 30, 20181	214			199			63			114			15			38			22			665

¹ Interest income recognized on a cash basis of $393 thousand and $416 thousand during the respective three and nine months ended September 30, 2019 was related to a principal payment applied to interest collected but unrecognized on a former non-accrual land development loan and the pay-off of three non-accruals. Interest income recognized on a cash basis of $6 thousand and $134 thousand during the three and nine months ended September 30, 2018 was related to the pay-off of three 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 September 30, 2019
Beginning balance	$	2,368		$	2,321		$	7,721		$	619		$	907		$	849		$	323		$	727		$	15,835
Provision (reversal)	326			21			211			(117		)	(28		)	56			(28		)	(41		)	400
Charge-offs	—			—			—			—			—			—			—			—			—
Recoveries	5			—			—			—			—			—			—			—			5
Ending balance	$	2,699		$	2,342		$	7,932		$	502		$	879		$	905		$	295		$	686		$	16,240
Three months ended September 30, 2018
Beginning balance	$	2,597		$	2,339		$	7,390		$	508		$	952		$	746		$	325		$	956		$	15,813
Provision (reversal)	(245		)	83			46			157			(39		)	35			5			(42		)	—
Charge-offs	—			—			—			—			—			—			—			—			—
Recoveries	4			—			—			—			—			—			—			—			4
Ending balance	$	2,356		$	2,422		$	7,436		$	665		$	913		$	781		$	330		$	914		$	15,817

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
Nine months ended September 30, 2019
Allowance for loan losses:
Beginning balance	$	2,436		$	2,407		$	7,703		$	756		$	915		$	800		$	310		$	494		$	15,821
Provision (reversal)	256			(65		)	217			(254		)	(36		)	105			(15		)	192			400
Charge-offs	(9		)	—			—			—			—			—			—			—			(9		)
Recoveries	16			—			12			—			—			—			—			—			28
Ending balance	$	2,699		$	2,342		$	7,932		$	502		$	879		$	905		$	295		$	686		$	16,240
Nine months ended September 30, 2018
Allowance for loan losses:
Beginning balance	$	3,654		$	2,294		$	6,475		$	681		$	1,031		$	536		$	378		$	718		$	15,767
Provision (reversal)	(1,308		)	128			961			(16		)	(118		)	245			(88		)	196			—
Charge-offs	(3		)	—			—			—			—			—			(2		)	—			(5		)
Recoveries	13			—			—			—			—			—			42			—			55
Ending balance	$	2,356		$	2,422		$	7,436		$	665		$	913		$	781		$	330		$	914		$	15,817

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
September 30, 2019
Ending ALLL related to loans collectively evaluated for impairment	$	2,516		$	2,257		$	7,887		$	490		$	874		$	905		$	236		$	686		$	15,851
Ending ALLL related to loans individually evaluated for impairment	183			85			45			12			5			—			59			—			389
Ending ALLL related to PCI loans	—			—			—			—			—			—			—			—			—
Ending balance	$	2,699		$	2,342		$	7,932		$	502		$	879		$	905		$	295		$	686		$	16,240
Recorded Investment:
Collectively evaluated for impairment	$	259,664		$	302,334		$	893,452		$	49,374		$	121,321		$	130,327		$	27,808		$	—		$	1,784,280
Individually evaluated for impairment	1,160			6,999			1,786			880			419			454			653			—			12,351
PCI loans	4			1,153			828			—			74			—			—			—			2,059
Total	$	260,828		$	310,486		$	896,066		$	50,254		$	121,814		$	130,781		$	28,461		$	—		$	1,798,690
Ratio of allowance for loan losses to total loans	1.03		%	0.75		%	0.89		%	1.00		%	0.72		%	0.69		%	1.04		%	NM			0.90		%
Allowance for loan losses to non-accrual loans	1,384		%	NM			NM			NM			526		%	NM			492		%	NM			3,848		%

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	764		%	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	September 30, 2019						December 31, 2018
(in thousands)	Unpaid Principal Balance			Carrying Value			Unpaid Principal Balance			Carrying Value
Commercial and industrial	$	48		$	4		$	89		$	31
Commercial real estate, owner occupied	1,208			1,153			1,247			1,187
Commercial real estate, investor	1,009			828			1,033			811
Home equity	194			74			210			83
Total purchased credit-impaired loans	$	2,459		$	2,059		$	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						Nine months ended
(in thousands)	September 30, 2019			September 30, 2018			September 30, 2019			September 30, 2018
Balance at beginning of period	$	819		$	1,059		$	934		$	1,254
Accretion	(55		)	(63		)	(170		)	(258		)
Balance at end of period	$	764		$	996		$	764		$	996

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