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Loans and Allowance for Credit Losses on Loans (Tables)
 6 Months Ended
Jun. 30, 2025
Receivables [Abstract]  
Schedule of Loans by Class
The following table presents the amortized cost of loans by portfolio class as of June 30, 2025 and December 31, 2024.

(in thousands)June 30, 2025December 31, 2024
Commercial and industrial$154,576 $152,263 
Real estate:
  Commercial owner-occupied320,439 321,962 
  Commercial non-owner occupied1,285,803 1,273,596 
  Construction25,018 36,970 
  Home equity95,241 88,325 
  Other residential127,947 143,207 
Installment and other consumer loans64,614 66,933 
Total loans, at amortized cost 1
2,073,638 2,083,256 
Allowance for credit losses on loans(29,854)(30,656)
Total loans, net of allowance for credit losses on loans$2,043,784 $2,052,600 
1 Amortized cost includes net deferred loan origination costs of $2.6 million and $2.5 million at June 30, 2025 and December 31, 2024, respectively. Amounts are also net of unrecognized purchase discounts of $1.0 million and $1.1 million at June 30, 2025 and December 31, 2024, respectively. Amortized cost excludes accrued interest, which totaled $6.6 million and $6.8 million at June 30, 2025 and December 31, 2024, respectively, and is included in interest receivable and other assets in the consolidated statements of condition.
Schedule of Loans by Risk Grade and Origination Year
The following tables present the loan portfolio by loan portfolio class, origination/renewal year and internal risk rating as of June 30, 2025 and December 31, 2024. The current year vintage table reflects gross charge-offs by loan portfolio class and year of origination. 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 YearRevolving Loans Amortized Cost
June 30, 202520252024202320222021PriorTotal
Commercial and industrial:
Pass and Watch$13,121 $8,645 $18,731 $6,956 $1,013 $26,512 $68,946 $143,924 
Special Mention— — — — — 161 — 161 
Substandard— 503 — 2,793 — — 7,195 10,491 
Total commercial and industrial$13,121 $9,148 $18,731 $9,749 $1,013 $26,673 $76,141 $154,576 
Gross current period charge-offs$— $— $— $— $— $— $(52)$(52)
Commercial real estate, owner-occupied:
Pass and Watch$16,368 $14,513 $12,908 $41,062 $43,799 $161,450 $70 $290,170 
Special Mention— — 372 — 18,516 5,082 — 23,970 
Substandard— — 99 3,214 — 2,986 — 6,299 
Total commercial real estate, owner-occupied$16,368 $14,513 $13,379 $44,276 $62,315 $169,518 $70 $320,439 
Commercial real estate, non-owner occupied:
Pass and Watch$63,956 $105,302 $64,138 $158,730 $193,971 $585,928 $10,962 $1,182,987 
Special Mention1,095 15,244 — 2,712 — 41,639 — 60,690 
Substandard2,771 — — — — 39,355 — 42,126 
Total commercial real estate, non-owner occupied$67,822 $120,546 $64,138 $161,442 $193,971 $666,922 $10,962 $1,285,803 
Gross current period charge-offs$— $— $— $— $(809)$— $— $(809)
(in thousands)Term Loans - Amortized Cost by Origination YearRevolving Loans Amortized Cost
June 30, 202520252024202320222021PriorTotal
Construction:
Pass and Watch$4,372 $13,938 $— $— $— $— $— $18,310 
Special Mention6,708 — — — — — — 6,708 
Total construction$11,080 $13,938 $— $— $— $— $— $25,018 
Home equity:
Pass and Watch$— $76 $13 $— $— $928 $92,708 $93,725 
Substandard— — — — — 170 1,346 1,516 
Total home equity$— $76 $13 $— $— $1,098 $94,054 $95,241 
Other residential:
Pass and Watch$2,386 $24,818 $16,851 $17,979 $11,636 $53,995 $— $127,665 
Substandard— — 76 — 206 — — 282 
Total other residential$2,386 $24,818 $16,927 $17,979 $11,842 $53,995 $— $127,947 
Installment and other consumer:
Pass and Watch$7,185 $15,439 $12,231 $9,449 $7,171 $11,438 $1,325 $64,238 
Substandard— — 176 — 190 10 — 376 
Total installment and other consumer$7,185 $15,439 $12,407 $9,449 $7,361 $11,448 $1,325 $64,614 
Gross current period charge-offs$— $— $— $— $— $(15)$(1)$(16)
Total loans:
Pass and Watch$107,388 $182,731 $124,872 $234,176 $257,590 $840,251 $174,011 $1,921,019 
Total Special Mention$7,803 $15,244 $372 $2,712 $18,516 $46,882 $— $91,529 
Total Substandard$2,771 $503 $351 $6,007 $396 $42,521 $8,541 $61,090 
Totals$117,962 $198,478 $125,595 $242,895 $276,502 $929,654 $182,552 $2,073,638 
Total gross current period charge-offs$— $— $— $— $(809)$(15)$(53)$(877)

(in thousands)Term Loans - Amortized Cost by Origination YearRevolving Loans Amortized Cost
December 31, 202420242023202220212020PriorTotal
Commercial and industrial:
Pass and Watch$9,951 $20,282 $7,742 $1,371 $2,650 $27,487 $71,212 $140,695 
Special Mention598 — — — 5 221 7,286 8,110 
Substandard— — 2,793 — — — 665 3,458 
Total commercial and industrial$10,549 $20,282 $10,535 $1,371 $2,655 $27,708 $79,163 $152,263 
Commercial real estate, owner-occupied:
Pass and Watch$14,638 $13,386 $43,381 $44,536 $41,160 $130,197 $169 $287,467 
Special Mention— 378 — 18,870 804 9,499 — 29,551 
Substandard— — 2,110 — — 2,834 — 4,944 
Total commercial real estate, owner-occupied$14,638 $13,764 $45,491 $63,406 $41,964 $142,530 $169 $321,962 
Commercial real estate, non-owner occupied:
Pass and Watch$119,053 $64,906 $162,804 $196,661 $179,060 $442,574 $9,178 $1,174,236 
Special Mention18,343 — 2,736 2,097 729 39,888 — 63,793 
Substandard— 497 — 2,127 — 32,943 — 35,567 
Total commercial real estate, non-owner occupied$137,396 $65,403 $165,540 $200,885 $179,789 $515,405 $9,178 $1,273,596 
Construction:
Pass and Watch$18,128 $— $11,380 $— $— $— $— $29,508 
Special Mention7,462 — — — — — — 7,462 
Total construction$25,590 $— $11,380 $— $— $— $— $36,970 
Home equity:
Pass and Watch$94 $13 $— $— $— $968 $86,337 $87,412 
Substandard— — — — — 174 739 913 
Total home equity$94 $13 $— $— $— $1,142 $87,076 $88,325 
(in thousands)Term Loans - Amortized Cost by Origination YearRevolving Loans Amortized Cost
December 31, 202420242023202220212020PriorTotal
Other residential:
Pass and Watch$35,390 $17,267 $19,682 $12,989 $24,378 $33,501 $— $143,207 
Total other residential$35,390 $17,267 $19,682 $12,989 $24,378 $33,501 $— $143,207 
Installment and other consumer:
Pass and Watch$17,525 $15,429 $10,841 $7,798 $2,788 $10,901 $1,429 $66,711 
Substandard— — — 207 — 15 — 222 
Total installment and other consumer$17,525 $15,429 $10,841 $8,005 $2,788 $10,916 $1,429 $66,933 
Gross current period charge-offs$— $(14)$— $(39)$— $(1)$(4)$(58)
Total loans:
Pass and Watch$214,779 $131,283 $255,830 $263,355 $250,036 $645,628 $168,325 $1,929,236 
Total Special Mention$26,403 $378 $2,736 $20,967 $1,538 $49,608 $7,286 $108,916 
Total Substandard$— $497 $4,903 $2,334 $— $35,966 $1,404 $45,104 
Totals$241,182 $132,158 $263,469 $286,656 $251,574 $731,202 $177,015 $2,083,256 
Schedule of Loans Outstanding and Aging Analysis
The following table shows the amortized cost of loans by portfolio class, payment aging and non-accrual status as of June 30, 2025 and December 31, 2024.
Loan Aging Analysis by Class
(in thousands)Commercial and industrialCommercial real estate, owner-occupiedCommercial real estate, non-owner occupiedConstructionHome equityOther residentialInstallment and other consumerTotal
June 30, 2025        
 30-59 days past due$695 $1,008 $— $— $986 $— $325 $3,014 
 60-89 days past due1 — — — 149 76 — 226 
 90 days or more past due 1
2,793 356 8,118 — 749 206 10 12,232 
Total past due3,489 1,364 8,118 — 1,884 282 335 15,472 
Current151,087 319,075 1,277,685 25,018 93,357 127,665 64,279 2,058,166 
Total loans 1
$154,576 $320,439 $1,285,803 $25,018 $95,241 $127,947 $64,614 $2,073,638 
Non-accrual loans 2
$2,793 $1,554 $26,012 $— $1,456 $282 $375 $32,472 
Non-accrual loans with no allowance$— $1,554 $8,835 $— $1,456 $206 $375 $12,426 
December 31, 2024        
 30-59 days past due$203 $208 $718 $— $738 $— $415 $2,282 
 60-89 days past due— 559 — — 186 — 7 752 
 90 days or more past due 1
2,793 113 10,742 — 248 — 8 13,904 
Total past due2,996 880 11,460 — 1,172 — 430 16,938 
Current149,267 321,082 1,262,136 36,970 87,153 143,207 66,503 2,066,318 
Total loans 1
$152,263 $321,962 $1,273,596 $36,970 $88,325 $143,207 $66,933 $2,083,256 
Non-accrual loans 2
$2,845 $1,537 $28,525 $— $752 $— $222 $33,881 
Non-accrual loans with no allowance$— $1,537 $497 $— $752 $— $207 $2,993 
1 There were no non-performing loans over 90 days past due and accruing interest as of June 30, 2025 or December 31, 2024.
2 None of the non-accrual loans as of June 30, 2025 or December 31, 2024 were earning interest on a cash or accrual basis. We reversed $11 thousand and $44 thousand in accrued interest income for loans that were placed on non-accrual status during the three and six months ended June 30, 2025, respectively. We reversed accrued interest income of $256 thousand and $266 thousand for loans that were placed on non-accrual status during the three and six months ended June 30, 2024, respectively.
Schedule of Collateral Dependent Non-Accrual Loans
The following table presents the amortized cost basis of individually analyzed collateral-dependent loans, which were all on non-accrual status, by portfolio class at June 30, 2025 and December 31, 2024.
Amortized Cost by Collateral Type
(in thousands)Commercial Real EstateResidential Real EstateOther
Total 1
Allowance for Credit Losses
June 30, 2025
Commercial real estate, owner-occupied$1,554 $— $— $1,554 $— 
Commercial real estate, non-owner occupied26,012 — — 26,012 7,307 
Home equity— 1,456 — 1,456 — 
Other residential— 282 — 282 36 
Total$27,566 $1,738 $— $29,304 $7,343 
December 31, 2024
Commercial and industrial$52 $— $— $52 $52 
Commercial real estate, owner-occupied1,537 — — 1,537 — 
Commercial real estate, non-owner occupied28,525 — — 28,525 7,933 
Home equity752 752 
Installment and other consumer— — 222 222 15 
Total$30,114 $752 $222 $31,088 $8,000 
1 There were no collateral-dependent residential real estate mortgage loans in process of foreclosure or in substance repossessed at June 30, 2025 and December 31, 2024. The weighted average loan-to-value of real estate secured collateral dependent loans was approximately 103% at June 30, 2025 and 115% at December 31, 2024.
Schedule of Loan Modifications to Borrowers Experiencing Financial Difficulty
The following table summarizes the amortized cost of loans as of June 30, 2025 and June 30, 2024 that were modified during the three months and six months ended June 30, 2025 and during the three and six months ended June 30, 2024, by portfolio class and type of modification granted.
(in thousands)Term ExtensionTotal ModificationsPercent of Portfolio Class Total
Three months ended June 30, 2025
Commercial non-owner occupied3,488 3,488 0.3 %
Total
Six months ended June 30, 2025
Commercial non-owner occupied3,488 3,488 0.3 %
Total$3,488 $3,488 
(in thousands)Term ExtensionTotal ModificationsPercent of Portfolio Class Total
Three months ended June 30, 2024
Home Equity159 159 0.2 %
Total$159 $159 
Six months ended June 30, 2024
Commercial and industrial$2,191 $2,191 1.3 %
Home equity241 241 0.3 %
Total$2,432 $2,432 
The following table summarizes the financial effect of loan modifications presented in the tables above during the three and six months ended June 30, 2025 and June 30, 2024 by portfolio class.

Weighted-Average Term Extension (in years)
Three months ended June 30, 2025
Commercial non-owner occupied1.2
Six months ended June 30, 2025
Commercial non-owner occupied1.2
Weighted-Average Term Extension (in years)
Three months ended June 30, 2024
Home Equity1.0
Six months ended June 30, 2024
Commercial and industrial0.3
Home Equity5.6
The Bank closely monitors the performance of the modified loans to understand the effectiveness of its modification efforts. The following table summarizes the amortized cost and payment status of loans as of June 30, 2025 and June 30, 2024 that were modified during the three and six months ended June 30, 2025 and June 30, 2024 by portfolio class.
(in thousands)Current30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueTotalNon-Accrual
Three months ended June 30, 2025
Commercial non-owner occupied3,488 — — — 3,488 717 
Total$3,488 $— $— $— $3,488 $717 
Six months ended June 30, 2025
Commercial non-owner occupied3,488 — — — 3,488 717 
Total$3,488 $— $— $— $3,488 $717 
(in thousands)Current30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueTotalNon-Accrual
Three months ended June 30, 2024
Home Equity159 — — — 159 120 
Total$159 $— $— $— $159 $120 
Six months ended June 30, 2024
Commercial and industrial$— $— $1,796 $— $1,796 $1,796 
Home equity238 — — — 238 199 
Total$238 $— $1,796 $— $2,034 $1,995 
Schedule of Allowance for Credit Losses on Financing Receivables
The following table presents the details of the allowance for credit losses on loans segregated by loan portfolio class as of June 30, 2025 and December 31, 2024.

Allocation of the Allowance for Credit Losses on Loans
(in thousands)Commercial and industrialCommercial real estate, owner-occupiedCommercial real estate, non-owner occupiedConstructionHome equityOther residentialInstallment and other consumerUnallocatedTotal
June 30, 2025        
Modeled expected credit losses$895 $1,295 $7,711 $38 $722 $1,072 $615 $— $12,348 
Qualitative adjustments640 1,107 6,498 346 61 2 256 1,180 10,090 
Specific allocations73 — 7,307 — — 36 — — 7,416 
Total$1,608 $2,402 $21,516 $384 $783 $1,110 $871 $1,180 $29,854 
December 31, 2024        
Modeled expected credit losses$759 $1,241 $7,632 $41 $620 $1,133 $625 $— $12,051 
Qualitative adjustments672 1,120 6,528 597 64 8 268 1,255 10,512 
Specific allocations145 — 7,933 — — — 15 — 8,093 
Total$1,576 $2,361 $22,093 $638 $684 $1,141 $908 $1,255 $30,656 
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 industrialCommercial real estate, owner-occupiedCommercial real estate, non-owner occupiedConstructionHome equityOther residentialInstallment and other consumerUnallocatedTotal
Three months ended June 30, 2025
Beginning balance$1,508 $2,319 $21,761 $416 $698 $1,074 $884 $1,246 $29,906 
Provision (Reversal)152 83 (245)(32)85 36 (13)(66)— 
(Charge-offs)(52)— — — — — — — (52)
Recoveries— — — — — — — — — 
Ending balance$1,608 $2,402 $21,516 $384 $783 $1,110 $871 $1,180 $29,854 
Three months ended June 30, 2024
Beginning balance$1,727 $2,500 $15,704 $1,282 $627 $692 $920 $2,049 $25,501 
Provision (Reversal)177 (92)6,461 (408)23 77 (12)(1,026)5,200 
(Charge-offs)(29)— — — — — (1)— (30)
Recoveries1 — — — — — 3 — 4 
Ending balance$1,876 $2,408 $22,165 $874 $650 $769 $910 $1,023 $30,675 
Six months ended June 30, 2025
Beginning balance$1,576 $2,361 $22,093 $638 $684 $1,141 $908 $1,255 $30,656 
Provision (Reversal)84 41 232 (254)99 (31)(21)(75)75 
(Charge-offs)(52)— (809)— — — (16)— (877)
Recoveries— — — — — — — — — 
Ending balance$1,608 $2,402 $21,516 $384 $783 $1,110 $871 $1,180 $29,854 
Six months ended June 30, 2024
Beginning balance$1,712 $2,476 $14,933 $1,832 $552 $653 $976 $2,038 $25,172 
Provision (Reversal)196 (68)7,232 (958)98 116 (51)(1,015)5,550 
(Charge-offs)(33)— — — — — (18)— (51)
Recoveries1 — — — — — 3 — 4 
Ending balance$1,876 $2,408 $22,165 $874 $650 $769 $910 $1,023 $30,675