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

(in thousands)September 30, 2025December 31, 2024
Commercial and industrial$154,303 $152,263 
Real estate:
  Commercial owner-occupied313,996 321,962 
  Commercial non-owner occupied1,324,263 1,273,596 
  Construction15,869 36,970 
  Home equity95,872 88,325 
  Other residential122,924 143,207 
Installment and other consumer loans63,127 66,933 
Total loans, at amortized cost 1
2,090,354 2,083,256 
Allowance for credit losses on loans(29,853)(30,656)
Total loans, net of allowance for credit losses on loans$2,060,501 $2,052,600 
1 Amortized cost includes net deferred loan origination costs of $2.6 million and $2.5 million at September 30, 2025 and December 31, 2024, respectively. Amounts are also net of unrecognized purchase discounts of $1.0 million and $1.1 million at September 30, 2025 and December 31, 2024, respectively. Amortized cost excludes accrued interest, which totaled $6.6 million and $6.8 million at September 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 September 30, 2025 and December 31, 2024. The current year vintage table reflects year to date 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
September 30, 202520252024202320222021PriorTotal
Commercial and industrial:
Pass and Watch$17,685 $7,774 $16,188 $6,586 $843 $23,629 $71,751 $144,456 
Special Mention— — — — — 132 — 132 
Substandard— 478 — 2,793 — — 6,444 9,715 
Total commercial and industrial$17,685 $8,252 $16,188 $9,379 $843 $23,761 $78,195 $154,303 
Gross current period charge-offs$— $— $— $— $— $— $(53)$(53)
Commercial real estate, owner-occupied:
Pass and Watch$27,063 $12,206 $12,480 $40,144 $43,430 $148,185 $272 $283,780 
Special Mention— — $369 — 18,336 5,332 — 24,037 
Substandard1,515 — 94 3,176 — 1,394 — 6,179 
Total commercial real estate, owner-occupied$28,578 $12,206 $12,943 $43,320 $61,766 $154,911 $272 $313,996 
Commercial real estate, non-owner occupied:
Pass and Watch$135,256 $102,525 $55,282 $160,497 $192,643 $569,725 $11,373 $1,227,301 
Special Mention3,529 15,249 — — — 45,572 — 64,350 
Substandard— — — — — 32,612 — 32,612 
Total commercial real estate, non-owner occupied$138,785 $117,774 $55,282 $160,497 $192,643 $647,909 $11,373 $1,324,263 
Gross current period charge-offs$— $— $— $— $(809)$— $— $(809)
(in thousands)Term Loans - Amortized Cost by Origination YearRevolving Loans Amortized Cost
September 30, 202520252024202320222021PriorTotal
Construction:
Pass and Watch$4,896 $10,973 $— $— $— $— $— $15,869 
Total construction$4,896 $10,973 $— $— $— $— $— $15,869 
Home equity:
Pass and Watch$99 $76 $13 $— $— $742 $94,328 $95,258 
Substandard— — — — — 165 449 614 
Total home equity$99 $76 $13 $— $— $907 $94,777 $95,872 
Other residential:
Pass and Watch$2,381 $22,641 $16,663 $17,850 $10,780 $52,535 $— $122,850 
Substandard— — 74 — — — — 74 
Total other residential$2,381 $22,641 $16,737 $17,850 $10,780 $52,535 $— $122,924 
Installment and other consumer:
Pass and Watch$9,657 $14,570 $11,380 $8,677 $7,139 $9,912 $1,606 $62,941 
Substandard— — 176 — — 10 — 186 
Total installment and other consumer$9,657 $14,570 $11,556 $8,677 $7,139 $9,922 $1,606 $63,127 
Gross current period charge-offs$— $— $— $— $— $(15)$(1)$(16)
Total loans:
Pass and Watch$197,037 $170,765 $112,006 $233,754 $254,835 $804,728 $179,330 $1,952,455 
Total Special Mention$3,529 $15,249 $369 $— $18,336 $51,036 $— $88,519 
Total Substandard$1,515 $478 $344 $5,969 $— $34,181 $6,893 $49,380 
Totals$202,081 $186,492 $112,719 $239,723 $273,171 $889,945 $186,223 $2,090,354 
Total gross current period charge-offs$— $— $— $— $(809)$(15)$(54)$(878)

(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 September 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
September 30, 2025        
 30-59 days past due$248 $— $9,556 $— $407 $— $272 $10,483 
 60-89 days past due50 — 437 — — — 146 633 
 90 days or more past due 1
3,488 375 8,118 — 148 74 185 12,388 
Total past due3,786 375 18,111 — 555 74 603 23,504 
Current150,517 313,621 1,306,152 15,869 95,317 122,850 62,524 2,066,850 
Total loans 1
$154,303 $313,996 $1,324,263 $15,869 $95,872 $122,924 $63,127 $2,090,354 
Non-accrual loans 2
$3,488 $1,488 $25,701 $— $553 $74 $185 $31,489 
Non-accrual loans with no allowance$— $1,488 $8,831 $— $553 $— $185 $11,057 
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 September 30, 2025 or December 31, 2024.
2 None of the non-accrual loans as of September 30, 2025 or December 31, 2024 were earning interest on a cash or accrual basis. We reversed $5 thousand and $49 thousand in accrued interest income for loans that were placed on non-accrual status during the three and nine months ended September 30, 2025, respectively. We reversed accrued interest income of $257 thousand and $523 thousand for loans that were placed on non-accrual status during the three and nine months ended September 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 September 30, 2025 and December 31, 2024.
Amortized Cost by Collateral Type
(in thousands)Commercial Real EstateResidential Real EstateOther
Total 1
Allowance for Credit Losses
September 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 September 30, 2025 and December 31, 2024. The weighted average loan-to-value of real estate secured collateral dependent loans was approximately 104% at September 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 September 30, 2025 and September 30, 2024 that were modified during the three months and nine months ended September 30, 2025 and during the nine months ended September 30, 2024, by portfolio class and type of modification granted. There were no modifications of loans during the three months ended September 30, 2024 requiring disclosure.

(in thousands)Term ExtensionTotal ModificationsPercent of Portfolio Class Total
Three months ended September 30, 2025
Commercial owner-occupied1,515 1,515 0.5 %
Total$1,515 $1,515 
Nine months ended September 30, 2025
Commercial owner-occupied1,515 1,515 0.5 %
Commercial non-owner occupied3,424 3,424 0.3 %
Total$4,939 $4,939 
(in thousands)Term ExtensionTotal ModificationsPercent of Portfolio Class Total
Nine months ended September 30, 2024
Home equity192 192 0.2 %
Total$192 $192 
The following table summarizes the financial effect of loan modifications presented in the tables above during the three and nine months ended September 30, 2025 and September 30, 2024 by portfolio class.

Weighted-Average Term Extension (in years)
Three months ended September 30, 2025
Commercial owner-occupied0.5
Nine months ended September 30, 2025
Commercial owner-occupied0.5
Commercial non-owner occupied1.2
Weighted-Average Term Extension (in years)
Nine months ended September 30, 2024
Home Equity6.5
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 September 30, 2025 and September 30, 2024 that were modified during the three and nine months ended September 30, 2025 and September 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 September 30, 2025
Commercial owner occupied1,515 — — — 1,515 — 
Total$1,515 $— $— $— $1,515 $— 
Nine months ended September 30, 2025
Commercial owner-occupied1,515 — — — 1,515 — 
Commercial non-owner occupied3,424 — — — 3,424 712 
Total$4,939 $— $— $— $4,939 $712 
(in thousands)Current30-59 Days Past Due60-89 Days Past Due90 Days or More Past DueTotalNon-Accrual
Nine months ended September 30, 2024
Home equity192 — — — 192 117 
Total$192 $— $— $— $192 $117 
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 September 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
September 30, 2025        
Modeled expected credit losses$1,307 $1,599 $7,916 $39 $701 $1,168 $754 $— $13,484 
Qualitative adjustments543 866 5,940 190 66 2 227 1,171 9,005 
Specific allocations43 — 7,301 — — 20 — — 7,364 
Total$1,893 $2,465 $21,157 $229 $767 $1,190 $981 $1,171 $29,853 
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 September 30, 2025
Beginning balance$1,608 $2,402 $21,516 $384 $783 $1,110 $871 $1,180 $29,854 
Provision (Reversal)286 63 (359)(155)(16)80 110 (9)— 
(Charge-offs)(1)— — — — — — — (1)
Recoveries— — — — — — — — — 
Ending balance$1,893 $2,465 $21,157 $229 $767 $1,190 $981 $1,171 $29,853 
Three months ended September 30, 2024
Beginning balance$1,876 $2,408 $22,165 $874 $650 $769 $910 $1,023 $30,675 
(Reversal) Provision(158)(63)(65)(214)(3)376 10 117 — 
(Charge-offs)— — — — — — — — — 
Recoveries— — — — — — — — — 
Ending balance$1,718 $2,345 $22,100 $660 $647 $1,145 $920 $1,140 $30,675 
Nine months ended September 30, 2025
Beginning balance$1,576 $2,361 $22,093 $638 $684 $1,141 $908 $1,255 $30,656 
Provision (Reversal)370 104 (127)(409)83 49 89 (84)75 
(Charge-offs)(53)— (809)— — — (16)— (878)
Recoveries— — — — — — — — — 
Ending balance$1,893 $2,465 $21,157 $229 $767 $1,190 $981 $1,171 $29,853 
Nine months ended September 30, 2024
Beginning balance$1,712 $2,476 $14,933 $1,832 $552 $653 $976 $2,038 $25,172 
Provision (Reversal)38 (131)7,167 (1,172)95 492 (41)(898)5,550 
(Charge-offs)(33)— — — — — (18)— (51)
Recoveries1 — — — — — 3 — 4 
Ending balance$1,718 $2,345 $22,100 $660 $647 $1,145 $920 $1,140 $30,675