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Loans and Allowance for Credit Losses on Loans - (Tables)

6 Months Ended

Jun. 30, 2021

Receivables [Abstract]

Schedule of Loans by Class

The following table presents the amortized cost of loans by class as of June 30, 2021 and December 31, 2020.

(in thousands)			June 30, 2021			December 31, 2020
Commercial and industrial			$	423,646		$	498,408
Real estate:
Commercial owner-occupied			296,407			304,963
Commercial investor-owned			967,335			961,208
Construction			80,841			73,046
Home equity			92,510			104,813
Other residential			120,903			123,395
Installment and other consumer loans			21,125			22,723
Total loans, at amortized cost 1			2,002,767			2,088,556
Allowance for credit losses on loans			(19,100)			(22,874)
Total loans, net			$	1,983,667		$	2,065,682

1 Amortized cost includes net deferred loan origination fees of $(5.2) million and $(4.9) million at June 30, 2021 and December 31, 2020, respectively. Amounts are also net of unrecognized purchase discounts of $737 thousand and $815 thousand at June 30, 2021 and December 31, 2020, respectively. Amortized cost excludes accrued interest, which totaled $7.3 million and $8.8 million at June 30, 2021 and December 31, 2020, respectively, and is included in interest receivable and other assets in the consolidated statements of condition.

Financing Receivable Credit Quality Indicators

The following tables present the loan portfolio by loan class, origination year and internal risk rating as of June 30, 2021 and December 31, 2020. Generally, existing term loans that were re-underwritten are reflected in the table in the year of renewal. Lines of credit that have a conversion feature at the time of origination, such as construction to perm loans, are presented by year of origination.

(in thousands)			Term Loans - Amortized Cost by Origination Year																		Revolving Loans Amortized Cost
June 30, 2021			2021			2020			2019			2018			2017			Prior						Total
Commercial and industrial:
Pass			$	137,058		$	129,992		$	20,274		$	10,797		$	3,621		$	35,228		$	82,806		$	419,776
Special Mention			—			—			638			442			101			5			445			1,631
Substandard			—			1,099			369			—			—			—			771			2,239
Total commercial and industrial			$	137,058		$	131,091		$	21,281		$	11,239		$	3,722		$	35,233		$	84,022		$	423,646
Commercial real estate, owner-occupied:
Pass			$	19,776		$	29,440		$	26,861		$	40,403		$	40,695		$	94,071		$	—		$	251,246
Special Mention			—			—			—			2,360			16,419			8,173			—			26,952
Substandard			—			7,148			293			—			—			10,768			—			18,209
Total commercial real estate, owner-occupied			$	19,776		$	36,588		$	27,154		$	42,763		$	57,114		$	113,012		$	—		$	296,407
Commercial real estate, investor-owned:
Pass			$	115,580		$	159,350		$	142,354		$	136,108		$	72,393		$	311,508		$	98		$	937,391
Special Mention			—			—			5,203			5,461			1,803			7,920			—			20,387
Substandard			—			—			2,715			4,422			—			2,420			—			9,557
Total commercial real estate, investor-owned			$	115,580		$	159,350		$	150,272		$	145,991		$	74,196		$	321,848		$	98		$	967,335
Construction:
Pass			$	3,699		$	43,733		$	24,379		$	9,030		$	—		$	—		$	—		$	80,841
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Total construction			$	3,699		$	43,733		$	24,379		$	9,030		$	—		$	—		$	—		$	80,841
Home equity:
Pass			$	—		$	—		$	—		$	—		$	—		$	511		$	91,191		$	91,702
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			386			422			808
Total home equity			$	—		$	—		$	—		$	—		$	—		$	897		$	91,613		$	92,510

(in thousands)			Term Loans - Amortized Cost by Origination Year																		Revolving Loans Amortized Cost
June 30, 2021			2021			2020			2019			2018			2017			Prior						Total
Other residential:
Pass			$	12,426		$	33,282		$	27,503		$	18,566		$	8,948		$	20,178		$	—		$	120,903
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Total other residential			$	12,426		$	33,282		$	27,503		$	18,566		$	8,948		$	20,178		$	—		$	120,903
Installment and other consumer:
Pass			$	3,318		$	2,038		$	3,320		$	2,305		$	1,248		$	7,183		$	1,713		$	21,125
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Total installment and other consumer			$	3,318		$	2,038		$	3,320		$	2,305		$	1,248		$	7,183		$	1,713		$	21,125
Total loans:
Pass			$	291,857		$	397,835		$	244,691		$	217,209		$	126,905		$	468,679		$	175,808		$	1,922,984
Total Special Mention			$	—		$	—		$	5,841		$	8,263		$	18,323		$	16,098		$	445		$	48,970
Total Substandard			$	—		$	8,247		$	3,377		$	4,422		$	—		$	13,574		$	1,193		$	30,813
Totals			$	291,857		$	406,082		$	253,909		$	229,894		$	145,228		$	498,351		$	177,446		$	2,002,767

(in thousands)			Term Loans - Amortized Cost by Origination Year																		Revolving Loans Amortized Cost
December 31, 2020			2020			2019			2018			2017			2016			Prior						Total
Commercial and industrial:
Pass			$	308,237		$	22,589		$	12,596		$	4,508		$	5,915		$	34,282		$	85,889		$	474,016
Special Mention			—			2,034			1,318			141			11			49			19,092			22,645
Substandard			1,747			—			—			—			—			—			—			1,747
Total commercial and industrial			$	309,984		$	24,623		$	13,914		$	4,649		$	5,926		$	34,331		$	104,981		$	498,408
Commercial real estate, owner-occupied:
Pass			$	31,029		$	27,581		$	32,603		$	43,843		$	12,768		$	101,014		$	—		$	248,838
Special Mention			—			—			11,764			17,062			7,343			6,601			—			42,770
Substandard			7,147			—			—			—			6,208			—			—			13,355
Total commercial real estate, owner-occupied			$	38,176		$	27,581		$	44,367		$	60,905		$	26,319		$	107,615		$	—		$	304,963
Commercial real estate, investor-owned:
Pass			$	162,300		$	144,751		$	173,955		$	100,842		$	94,862		$	253,611		$	117		$	930,438
Special Mention			—			10,695			—			1,819			—			8,124			—			20,638
Substandard			—			2,716			4,435			—			1,553			1,428			—			10,132
Total commercial real estate, investor-owned			$	162,300		$	158,162		$	178,390		$	102,661		$	96,415		$	263,163		$	117		$	961,208
Construction:
Pass			$	31,654		$	30,150		$	11,242		$	—		$	—		$	—		$	—		$	73,046
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Total construction			$	31,654		$	30,150		$	11,242		$	—		$	—		$	—		$	—		$	73,046
Home equity:
Pass			$	—		$	—		$	—		$	—		$	128		$	694		$	102,614		$	103,436
Special Mention			—			—			—			—			—			—			799			799
Substandard			—			—			—			—			—			391			187			578
Total home equity			$	—		$	—		$	—		$	—		$	128		$	1,085		$	103,600		$	104,813
Other residential:
Pass			$	34,447		$	31,079		$	23,673		$	10,574		$	6,035		$	17,587		$	—		$	123,395
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—			—
Total other residential			$	34,447		$	31,079		$	23,673		$	10,574		$	6,035		$	17,587		$	—		$	123,395
Installment and other consumer:
Pass			$	2,361		$	4,382		$	3,483		$	1,543		$	3,423		$	4,921		$	2,593		$	22,706
Special Mention			—			—			—			—			—			—			—			—
Substandard			—			—			—			17			—			—			—			17
Total installment and other consumer			$	2,361		$	4,382		$	3,483		$	1,560		$	3,423		$	4,921		$	2,593		$	22,723
Total loans:
Pass			$	570,028		$	260,532		$	257,552		$	161,310		$	123,131		$	412,109		$	191,213		$	1,975,875
Total Special Mention			$	—		$	12,729		$	13,082		$	19,022		$	7,354		$	14,774		$	19,891		$	86,852
Total Substandard			$	8,894		$	2,716		$	4,435		$	17		$	7,761		$	1,819		$	187		$	25,829
Totals			$	578,922		$	275,977		$	275,069		$	180,349		$	138,246		$	428,702		$	211,291		$	2,088,556

Past Due Financing Receivables

The following table shows the amortized cost of loans by class, payment aging and non-accrual status as of June 30, 2021 and December 31, 2020.

Loan Aging Analysis by Class
(in thousands)			Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor-owned			Construction			Home equity			Other residential			Installment and other consumer			Total
June 30, 2021
30-59 days past due			$	367		$	—		$	—		$	—		$	—		$	—		$	—		$	367
60-89 days past due			—			—			—			—			121			—			—			121
90 days or more past due			—			—			878			—			—			—			—			878
Total past due			367			—			878			—			121			—			—			1,366
Current			423,279			296,407			966,457			80,841			92,389			120,903			21,125			2,001,401
Total loans 1			$	423,646		$	296,407		$	967,335		$	80,841		$	92,510		$	120,903		$	21,125		$	2,002,767
Non-accrual loans 2			$	—		$	7,148		$	1,597		$	—		$	445		$	—		$	—		$	9,190
Non-accrual loans with no allowance			$	—		$	7,148		$	1,597		$	—		$	445		$	—		$	—		$	9,190
December 31, 2020
30-59 days past due			$	—		$	—		$	1,673		$	—		$	274		$	—		$	136		$	2,083
60-89 days past due			—			—			—			—			—			—			622			622
90 days or more past due			—			—			—			—			—			—			—			—
Total past due			—			—			1,673			—			274			—			758			2,705
Current			498,408			304,963			959,535			73,046			104,539			123,395			21,965			2,085,851
Total loans 1			$	498,408		$	304,963		$	961,208		$	73,046		$	104,813		$	123,395		$	22,723		$	2,088,556
Non-accrual loans 2			$	—		$	7,147		$	1,610		$	—		$	459		$	—		$	17		$	9,233
Non-accrual loans with no allowance			$	—		$	7,147		$	1,610		$	—		$	459		$	—		$	17		$	9,233

1 There were no loans past due more than ninety days accruing interest at June 30, 2021 or December 31, 2020.

2 None of the non-accrual loans as of June 30, 2021 or December 31, 2020 were earning interest on a cash basis. We recognized no interest income on non-accrual loans for the three and six months ended June 30, 2021 and 2020. There were no new loans placed on non-accrual status during the six months ended June 30, 2021. Accrued interest of $20 thousand was reversed from interest income for loans that were placed on non-accrual status during the six months ended June 30, 2020.

Schedule of Collateral Dependent Loans

The following table presents the amortized cost basis of individually analyzed collateral-dependent non-accrual loans by class at June 30, 2021 and December 31, 2020.

			Amortized Cost by Collateral Type
(in thousands)			Commercial Real Estate			Residential Real Estate						Other			Total			Allowance for Credit Losses
June 30, 2021
Commercial real estate, owner-occupied			$	7,148		$	—					$	—		$	7,148		$	—
Commercial real estate, investor-owned			1,597			—						—			1,597			—
Home equity			—			445						—			445			—
Total			$	8,745		$	445					$	—		$	9,190		$	—
December 31, 2020
Commercial real estate, owner-occupied			$	7,147		$	—					$	—		$	7,147		$	—
Commercial real estate, investor-owned			1,610			—						—			1,610			—
Home equity			—			459						—			459			—
Installment and other consumer			—			—						17			17			—
Total			$	8,757		$	459					$	17		$	9,233		$	—

Troubled Debt Restructurings on Financing Receivables

The following table summarizes the carrying amount of TDR loans by loan class as of June 30, 2021 and December 31, 2020.

(in thousands)
Recorded Investment in Troubled Debt Restructurings 1			June 30, 2021			December 31, 2020
Commercial and industrial			$	821		$	1,021
Commercial real estate, owner-occupied			7,148			7,147
Commercial real estate, investor-owned			1,729			3,305
Home equity			276			281
Installment and other consumer			745			752
Total			$	10,719		$	12,506

1TDR loans on non-accrual status totaled $7.4 million at both June 30, 2021 and December 31, 2020. Unfunded commitments for TDR loans totaled $845 thousand as of June 30, 2021

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, if applicable.

(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 June 30, 2021:
None			—			$	—		$	—		$	—
TDRs during the three months ended June 30, 2020:
Home equity			1			$	276		$	276		$	276
Installment and other consumer			1			108			108			108
Total			2			$	384		$	384		$	384

TDRs during the six months ended June 30, 2021:
None			—			$	—		$	—		$	—
TDRs during the six months ended June 30, 2020:
Commercial and industrial			1			$	170		$	162		$	144
Home equity			1			276			276			276
Installment and other consumer			3			211			211			210
Total			5			$	657		$	649		$	630

Allowance for Credit Losses on Financing Receivables

The following table discloses activity in the allowance for credit losses on loans for the periods presented.

Allowance for Credit Losses on Loans Rollforward
(in thousands)			Commercial and industrial			Commercial real estate, owner-occupied			Commercial real estate, investor-owned			Construction			Home equity			Other residential			Installment and other consumer			Unallocated			Total
Three months ended June 30, 2021
Beginning balance			$	1,654		$	2,304		$	10,856		$	1,312		$	520		$	757		$	255		$	2,300		$	19,958
Provision (reversal) - CECL			(68)			(267)			(95)			(178)			(158)			(144)			(17)			7			(920)
Charge-offs			—			—			—			—			—			—			—			—			—
Recoveries			4			—			—			8			50			—			—			—			62
Ending balance			$	1,590		$	2,037		$	10,761		$	1,142		$	412		$	613		$	238		$	2,307		$	19,100
Three months ended June 30, 2020
Beginning balance			$	2,784		$	2,797		$	9,225		$	727		$	982		$	1,098		$	363		$	908		$	18,884
Provision - incurred loss			(159)			113			1,178			109			62			168			63			466			2,000
Charge-offs			(20)			—			—			—			—			—			—			—			(20)
Recoveries			4			—			—			—			—			—			—			—			4
Ending balance			$	2,609		$	2,910		$	10,403		$	836		$	1,044		$	1,266		$	426		$	1,374		$	20,868

Allowance for Credit Losses on Loans Rollforward
(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
Six months ended June 30, 2021
Beginning balance			$	2,530		$	2,778		$	12,682		$	1,557		$	738		$	998		$	291		$	1,300		$	22,874
Provision (reversal) - CECL			(947)			(741)			(1,921)			(433)			(376)			(385)			(53)			1,007			(3,849)
Charge-offs			—			—			—			—			—			—			—			—			—
Recoveries			7			—			—			18			50			—			—			—			75
Ending balance			$	1,590		$	2,037		$	10,761		$	1,142		$	412		$	613		$	238		$	2,307		$	19,100
Six months ended June 30, 2020
Beginning balance			$	2,334		$	2,462		$	8,483		$	638		$	850		$	973		$	284		$	653		$	16,677
Provision - incurred loss			287			448			1,920			195			194			293			142			721			4,200
Charge-offs			(20)			—			—			—			—			—			—			—			(20)
Recoveries			8			—			—			3			—			—			—			—			11
Ending balance			$	2,609		$	2,910		$	10,403		$	836		$	1,044		$	1,266		$	426		$	1,374		$	20,868

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Schedule of Collateral Dependent Loans

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Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
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No definition available.

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Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

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Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.3,4)
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Tabular disclosure of financing receivable modified as troubled debt restructuring.

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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 33
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953676-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953682-111524

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