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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 12 Months Ended
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Dec. 31, 2021
Receivables [Abstract] |
Components of Loans in Consolidated Balance Sheet | The components of loans in the Consolidated Balance Sheet at December 31, were as follows:
(Dollars in thousands) |  | 2021 |  | 2020
Commercial and non-residential real estate |  | $ | 1,480,527 |  |  | $ | 1,141,114 |
Residential |  | 306,140 |  |  | 240,264 |
Home equity |  | 22,186 |  |  | 30,828 |
Consumer |  | 43,919 |  |  | 3,156 |
PCI loans: |  |  |  |
Commercial and non-residential real estate |  | 13,904 |  |  | 21,008 |
Residential |  | 4,358 |  |  | 16,943 |
Consumer |  | 413 |  |  | 1,488 |
Total loans |  | 1,871,447 |  |  | 1,454,801 |
Deferred loan origination costs and (fees), net |  | (1,609) |  |  | (1,057) |
Loans receivable |  | $ | 1,869,838 |  |  | $ | 1,453,744 |
Primary Segments of the Loan Portfolio | The following table summarizes the primary segments of the loan portfolio, excluding PCI loans, as of December 31, 2021 and 2020:
(Dollars in thousands) |  | Commercial |  | Residential |  | Home Equity |  | Consumer |  | Total
December 31, 2021 |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 13,800 |  |  | $ | 8,179 |  |  | $ | 217 |  |  | $ | 259 |  |  | $ | 22,455 |
Collectively evaluated for impairment |  | 1,466,727 |  |  | 297,961 |  |  | 21,969 |  |  | 43,660 |  |  | 1,830,317 |
Total loans |  | $ | 1,480,527 |  |  | $ | 306,140 |  |  | $ | 22,186 |  |  | $ | 43,919 |  |  | $ | 1,852,772 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Individually evaluated for impairment |  | $ | 13,334 |  |  | $ | 1,960 |  |  | $ | 95 |  |  | $ | 5 |  |  | $ | 15,394 |
Collectively evaluated for impairment |  | 1,127,780 |  |  | 238,304 |  |  | 30,733 |  |  | 3,151 |  |  | 1,399,968 |
Total loans |  | $ | 1,141,114 |  |  | $ | 240,264 |  |  | $ | 30,828 |  |  | $ | 3,156 |  |  | $ | 1,415,362 |
Impaired Loans by Class | The following table presents impaired loans by class, excluding PCI loans, segregated by those for which a specific allowance was required and those for which a specific allowance was not necessary as of December 31, 2021 and 2020:
|  | Impaired Loans with Specific Allowance |  | Impaired Loans with No Specific Allowance |  | Total Impaired Loans
(Dollars in thousands) |  | Recorded Investment |  | Related Allowance |  | Recorded Investment |  | Recorded Investment |  | Unpaid Principal Balance
December 31, 2021 |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 2,401 |  |  | $ | 232 |  |  | $ | 8,796 |  |  | $ | 11,197 |  |  | $ | 13,010 |
Commercial real estate |  | 668 |  |  | 243 |  |  | 543 |  |  | 1,211 |  |  | 1,329 |
Acquisition and development |  | — |  |  | — |  |  | 1,392 |  |  | 1,392 |  |  | 2,807 |
Total commercial |  | 3,069 |  |  | 475 |  |  | 10,731 |  |  | 13,800 |  |  | 17,146 |
Residential |  | — |  |  | — |  |  | 8,179 |  |  | 8,179 |  |  | 8,219 |
Home equity |  | — |  |  | — |  |  | 217 |  |  | 217 |  |  | 221 |
Consumer |  | — |  |  | — |  |  | 259 |  |  | 259 |  |  | 259 |
Total impaired loans |  | $ | 3,069 |  |  | $ | 475 |  |  | $ | 19,386 |  |  | $ | 22,455 |  |  | $ | 25,845 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 3,431 |  |  | $ | 1,032 |  |  | $ | 5,653 |  |  | $ | 9,084 |  |  | $ | 10,440 |
Commercial real estate |  | 772 |  |  | 264 |  |  | 944 |  |  | 1,716 |  |  | 1,864 |
Acquisition and development |  | — |  |  | — |  |  | 2,534 |  |  | 2,534 |  |  | 3,939 |
Total commercial |  | 4,203 |  |  | 1,296 |  |  | 9,131 |  |  | 13,334 |  |  | 16,243 |
Residential |  | — |  |  | — |  |  | 1,960 |  |  | 1,960 |  |  | 2,232 |
Home equity |  | — |  |  | — |  |  | 95 |  |  | 95 |  |  | 95 |
Consumer |  | — |  |  | — |  |  | 5 |  |  | 5 |  |  | 5 |
Total impaired loans |  | $ | 4,203 |  |  | $ | 1,296 |  |  | $ | 11,191 |  |  | $ | 15,394 |  |  | $ | 18,575 |
The carrying amount of the PCI loan portfolio is as follows:
(Dollars in thousands) |  | As of December 31, 2021 |  | As of December 31, 2020
Commercial |  | $ | 13,904 |  |  | $ | 21,008 |
Residential |  | 4,358 |  |  | 16,943 |
Consumer |  | 413 |  |  | 1,488 |
Outstanding balance |  | $ | 18,675 |  |  | $ | 39,439 |
Carrying amount, net of allowance |  | $ | 18,012 |  |  | $ | 39,355 |
Average Recorded Investment in Impaired Loans and Related Interest Income Recognized | The following table presents the average recorded investment in impaired loans, excluding PCI loans, and related interest income recognized for the years ended:
|  | December 31, 2021 |  | December 31, 2020 |  | December 31, 2019
(Dollars in thousands) |  | Average Investment in Impaired Loans |  | Interest Income Recognized on Accrual Basis |  | Interest Income Recognized on Cash Basis |  | Average Investment in Impaired Loans |  | Interest Income Recognized on Accrual Basis |  | Interest Income Recognized on Cash Basis |  | Average Investment in Impaired Loans |  | Interest Income Recognized on Accrual Basis |  | Interest Income Recognized on Cash Basis
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 7,701 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,066 |  |  | $ | — |  |  | $ | — |  |  | $ | 3,202 |  |  | $ | — |  |  | $ | — |
Commercial real estate |  | 2,051 |  |  | 60 |  |  | 43 |  |  | 3,057 |  |  | 97 |  |  | 104 |  |  | 3,220 |  |  | 162 |  |  | 140 |
Acquisition and development |  | 344 |  |  | — |  |  | — |  |  | 1,207 |  |  | 67 |  |  | 73 |  |  | 2,151 |  |  | 123 |  |  | 131 |
Total commercial |  | 10,096 |  |  | 60 |  |  | 43 |  |  | 10,330 |  |  | 164 |  |  | 177 |  |  | 8,573 |  |  | 285 |  |  | 271 |
Residential |  | 5,992 |  |  | 15 |  |  | 14 |  |  | 2,541 |  |  | 19 |  |  | 19 |  |  | 2,719 |  |  | 16 |  |  | 16 |
Home equity |  | 81 |  |  | — |  |  | — |  |  | 87 |  |  | — |  |  | — |  |  | 154 |  |  | 2 |  |  | 2 |
Consumer |  | 41 |  |  | — |  |  | — |  |  | 7 |  |  | — |  |  | — |  |  | 45 |  |  | — |  |  | — |
Total |  | $ | 16,210 |  |  | $ | 75 |  |  | $ | 57 |  |  | $ | 12,965 |  |  | $ | 183 |  |  | $ | 196 |  |  | $ | 11,491 |  |  | $ | 303 |  |  | $ | 289 |
Classes of the Loan Portfolio Summarized by the Aggregate Pass and the Criticized Categories | The following table represents the classes of the loan portfolio, excluding PCI loans, summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of December 31, 2021 and 2020:
(Dollars in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
December 31, 2021 |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 657,733 |  |  | $ | 11,964 |  |  | $ | 17,581 |  |  | $ | 28 |  |  | $ | 687,306 |
Commercial real estate |  | 520,446 |  |  | 12,065 |  |  | 29,134 |  |  | 73 |  |  | 561,718 |
Acquisition and development |  | 89,768 |  |  | 4,960 |  |  | 4,031 |  |  | 1,064 |  |  | 99,823 |
SBA PPP |  | 131,680 |  |  | — |  |  | — |  |  | — |  |  | 131,680 |
Total commercial |  | 1,399,627 |  |  | 28,989 |  |  | 50,746 |  |  | 1,165 |  |  | 1,480,527 |
Residential |  | 294,933 |  |  | 899 |  |  | 9,815 |  |  | 493 |  |  | 306,140 |
Home equity |  | 21,582 |  |  | 387 |  |  | 191 |  |  | 26 |  |  | 22,186 |
Consumer |  | 43,645 |  |  | 15 |  |  | 259 |  |  | — |  |  | 43,919 |
Total Loans |  | $ | 1,759,787 |  |  | $ | 30,290 |  |  | $ | 61,011 |  |  | $ | 1,684 |  |  | $ | 1,852,772 |
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 496,222 |  |  | $ | 9,529 |  |  | $ | 17,045 |  |  | $ | 1,095 |  |  | $ | 523,891 |
Commercial real estate |  | 356,544 |  |  | 32,044 |  |  | 34,001 |  |  | 533 |  |  | 423,122 |
Acquisition and development |  | 80,771 |  |  | 25,001 |  |  | 4,184 |  |  | 2,170 |  |  | 112,126 |
SBA PPP |  | 81,975 |  |  | — |  |  | — |  |  | — |  |  | 81,975 |
Total commercial |  | 1,015,512 |  |  | 66,574 |  |  | 55,230 |  |  | 3,798 |  |  | 1,141,114 |
Residential |  | 236,250 |  |  | 948 |  |  | 2,896 |  |  | 170 |  |  | 240,264 |
Home equity |  | 30,277 |  |  | 381 |  |  | 144 |  |  | 26 |  |  | 30,828 |
Consumer |  | 3,124 |  |  | 32 |  |  | — |  |  | — |  |  | 3,156 |
Total Loans |  | $ | 1,285,163 |  |  | $ | 67,935 |  |  | $ | 58,270 |  |  | $ | 3,994 |  |  | $ | 1,415,362 |
The following tables represent the classes of the PCI loan portfolio summarized by the aggregate Pass and the criticized categories of Special Mention, Substandard and Doubtful within the internal risk rating system as of December 31, 2021 and December 31, 2020, respectively:
(Dollars in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
December 31, 2021 |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial Business |  | $ | 2,257 |  |  | $ | 159 |  |  | $ | 207 |  |  | $ | 6 |  |  | $ | 2,629 |
Commercial Real Estate |  | 7,499 |  |  | 1,571 |  |  | 1,948 |  |  | — |  |  | 11,018 |
Acquisition & Development |  | 178 |  |  | 79 |  |  | — |  |  | — |  |  | 257 |
Total Commercial |  | 9,934 |  |  | 1,809 |  |  | 2,155 |  |  | 6 |  |  | 13,904 |
Residential |  | 3,406 |  |  | — |  |  | 952 |  |  | — |  |  | 4,358 |
Consumer |  | 36 |  |  | — |  |  | 377 |  |  | — |  |  | 413 |
Total Loans |  | $ | 13,376 |  |  | $ | 1,809 |  |  | $ | 3,484 |  |  | $ | 6 |  |  | $ | 18,675 |
(Dollars in thousands) |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  | Total
December 31, 2020 |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |
Commercial Business |  | $ | 12,263 |  |  | $ | 136 |  |  | $ | 345 |  |  | $ | 4,860 |  |  | $ | 17,604 |
Commercial Real Estate |  | 982 |  |  | 3 |  |  | 263 |  |  | 21 |  |  | 1,269 |
Acquisition & Development |  | 1,900 |  |  | — |  |  | — |  |  | 235 |  |  | 2,135 |
Total Commercial |  | 15,145 |  |  | 139 |  |  | 608 |  |  | 5,116 |  |  | 21,008 |
Residential |  | 15,157 |  |  | — |  |  | 1,665 |  |  | 121 |  |  | 16,943 |
Consumer |  | 1,256 |  |  | — |  |  | — |  |  | 232 |  |  | 1,488 |
Total Loans |  | $ | 31,558 |  |  | $ | 139 |  |  | $ | 2,273 |  |  | $ | 5,469 |  |  | $ | 39,439 |
Classes of the Loan Portfolio Summarized by Aging Categories | The following table presents the classes of the loan portfolio, excluding PCI loans, summarized by aging categories of performing loans and nonaccrual loans as of December 31, 2021 and 2020:
(Dollars in thousands) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Total Loans |  | Non-Accrual |  | 90+ Days Still Accruing
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 684,086 |  |  | $ | 1,718 |  |  | $ | 11 |  |  | $ | 1,491 |  |  | $ | 3,220 |  |  | $ | 687,306 |  |  | $ | 8,261 |  |  | $ | — |
Commercial real estate |  | 561,519 |  |  | 126 |  |  | — |  |  | 73 |  |  | 199 |  |  | 561,718 |  |  | 192 |  |  | — |
Acquisition and development |  | 98,524 |  |  | 67 |  |  | 412 |  |  | 820 |  |  | 1,299 |  |  | 99,823 |  |  | 1,392 |  |  | — |
SBA PPP |  | 131,680 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 131,680 |  |  | — |  |  | — |
Total commercial |  | 1,475,809 |  |  | 1,911 |  |  | 423 |  |  | 2,384 |  |  | 4,718 |  |  | 1,480,527 |  |  | 9,845 |  |  | — |
Residential |  | 300,988 |  |  | 3,343 |  |  | 285 |  |  | 1,524 |  |  | 5,152 |  |  | 306,140 |  |  | 7,636 |  |  | — |
Home equity |  | 21,974 |  |  | — |  |  | 119 |  |  | 93 |  |  | 212 |  |  | 22,186 |  |  | 217 |  |  | — |
Consumer |  | 41,991 |  |  | 1,211 |  |  | 461 |  |  | 256 |  |  | 1,928 |  |  | 43,919 |  |  | 259 |  |  | — |
Total Loans |  | $ | 1,840,762 |  |  | $ | 6,465 |  |  | $ | 1,288 |  |  | $ | 4,257 |  |  | $ | 12,010 |  |  | $ | 1,852,772 |  |  | $ | 17,957 |  |  | $ | — |
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | $ | 521,799 |  |  | $ | 1,040 |  |  | $ | 33 |  |  | $ | 1,019 |  |  | $ | 2,092 |  |  | $ | 523,891 |  |  | $ | 8,601 |  |  | $ | — |
Commercial real estate |  | 422,343 |  |  | 34 |  |  | 212 |  |  | 533 |  |  | 779 |  |  | 423,122 |  |  | 944 |  |  | — |
Acquisition and development |  | 109,686 |  |  | — |  |  | — |  |  | 2,440 |  |  | 2,440 |  |  | 112,126 |  |  | 2,534 |  |  | — |
SBA PPP |  | 81,975 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 81,975 |  |  | — |  |  | — |
Total commercial |  | 1,135,803 |  |  | 1,074 |  |  | 245 |  |  | 3,992 |  |  | 5,311 |  |  | 1,141,114 |  |  | 12,079 |  |  | — |
Residential |  | 235,420 |  |  | 2,058 |  |  | 1,969 |  |  | 817 |  |  | 4,844 |  |  | 240,264 |  |  | 1,534 |  |  | — |
Home equity |  | 30,369 |  |  | 289 |  |  | 75 |  |  | 95 |  |  | 459 |  |  | 30,828 |  |  | 95 |  |  | — |
Consumer |  | 3,156 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,156 |  |  | 5 |  |  | — |
Total Loans |  | $ | 1,404,748 |  |  | $ | 3,421 |  |  | $ | 2,289 |  |  | $ | 4,904 |  |  | $ | 10,614 |  |  | $ | 1,415,362 |  |  | $ | 13,713 |  |  | $ | — |
The following tables present the classes of the PCI loan portfolio summarized by aging categories of performing loans and non- accrual loans as of December 31, 2021 and December 31, 2020, respectively:
(Dollars in thousands) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Total Loans |  | Non-Accrual |  |
December 31, 2021 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Business |  | $ | 2,416 |  |  | $ | — |  |  | $ | — |  |  | $ | 213 |  |  | $ | 213 |  |  | $ | 2,629 |  |  | $ | — |  |  |
Commercial Real Estate |  | 7,680 |  |  | 649 |  |  | — |  |  | 2689 |  |  | 3338 |  |  | 11,018 |  |  | — |  |  |
Acquisition & Development |  | 243 |  |  | — |  |  | — |  |  | 14 |  |  | 14 |  |  | 257 |  |  | — |  |  |
Total Commercial |  | 10,339 |  |  | 649 |  |  | — |  |  | 2,916 |  |  | 3,565 |  |  | 13,904 |  |  | — |  |  |
Residential |  | 3,081 |  |  | 325 |  |  | — |  |  | 952 |  |  | 1,277 |  |  | 4,358 |  |  | — |  |  |
Consumer |  | 36 |  |  | — |  |  | — |  |  | 377 |  |  | 377 |  |  | 413 |  |  | — |  |  |
Total Loans |  | $ | 13,456 |  |  | $ | 974 |  |  | $ | — |  |  | $ | 4,245 |  |  | $ | 5,219 |  |  | $ | 18,675 |  |  | $ | — |  |  |
(Dollars in thousands) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total Past Due |  | Total Loans |  | Non-Accrual
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Business |  | $ | 16,264 |  |  | $ | 71 |  |  | $ | 65 |  |  | $ | 1,204 |  |  | $ | 1,340 |  |  | $ | 17,604 |  |  | $ | — |
Commercial Real Estate |  | 1,157 |  |  | — |  |  | — |  |  | 112 |  |  | 112 |  |  | 1,269 |  |  | — |
Acquisition & Development |  | 2,135 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,135 |  |  | — |
Total Commercial |  | 19,556 |  |  | 71 |  |  | 65 |  |  | 1,316 |  |  | 1,452 |  |  | 21,008 |  |  | — |
Residential |  | 13,714 |  |  | 710 |  |  | 145 |  |  | 2,374 |  |  | 3,229 |  |  | 16,943 |  |  | — |
Consumer |  | 1,245 |  |  | 3 |  |  | 1 |  |  | 239 |  |  | 243 |  |  | 1,488 |  |  | — |
Total Loans |  | $ | 34,515 |  |  | $ | 784 |  |  | $ | 211 |  |  | $ | 3,929 |  |  | $ | 4,924 |  |  | $ | 39,439 |  |  | $ | — |
Allowance Activity | The following tables summarize the activity of primary segments of the ALL, excluding the ALL related to PCI loans, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment for the years ending December 31, 2021, 2020 and 2019:
(Dollars in thousands) |  | Commercial |  | Residential |  | Home Equity |  | Consumer |  | Total
ALL balance at December 31, 2020 |  | $ | 24,033 |  |  | $ | 1,378 |  |  | $ | 298 |  |  | $ | 51 |  |  | $ | 25,760 |
Charge-offs |  | (1,367) |  |  | (2) |  |  | — |  |  | (247) |  |  | (1,616) |
Recoveries |  | 231 |  |  | — |  |  | 24 |  |  | 61 |  |  | 316 |
Provision (release) |  | (8,797) |  |  | (428) |  |  | (194) |  |  | 2,562 |  |  | (6,857) |
ALL balance at December 31, 2021 |  | $ | 14,100 |  |  | $ | 948 |  |  | $ | 128 |  |  | $ | 2,427 |  |  | $ | 17,603 |
Individually evaluated for impairment |  | $ | 475 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 475 |
Collectively evaluated for impairment |  | $ | 13,625 |  |  | $ | 948 |  |  | $ | 128 |  |  | $ | 2,427 |  |  | $ | 17,128 |
(Dollars in thousands) |  | Commercial |  | Residential |  | Home Equity |  | Consumer |  | Total
ALL balance at December 31, 2019 |  | $ | 10,098 |  |  | $ | 1,272 |  |  | $ | 327 |  |  | $ | 78 |  |  | $ | 11,775 |
Charge-offs |  | (1,932) |  |  | (224) |  |  | (23) |  |  | — |  |  | (2,179) |
Recoveries |  | 22 |  |  | — |  |  | 9 |  |  | 3 |  |  | 34 |
Provision (release) |  | 15,845 |  |  | 684 |  |  | (15) |  |  | (30) |  |  | 16,484 |
Allowance contributed with mortgage combination transaction |  | — |  |  | (354) |  |  | — |  |  | — |  |  | (354) |
ALL balance at December 31, 2020 |  | $ | 24,033 |  |  | $ | 1,378 |  |  | $ | 298 |  |  | $ | 51 |  |  | $ | 25,760 |
Individually evaluated for impairment |  | $ | 1,296 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,296 |
Collectively evaluated for impairment |  | $ | 22,737 |  |  | $ | 1,378 |  |  | $ | 298 |  |  | $ | 51 |  |  | $ | 24,464 |
(Dollars in thousands) |  | Commercial |  | Residential |  | Home Equity |  | Consumer |  | Total
ALL balance at December 31, 2018 |  | $ | 8,605 |  |  | $ | 1,405 |  |  | $ | 684 |  |  | $ | 245 |  |  | $ | 10,939 |
Charge-offs |  | (998) |  |  | — |  |  | — |  |  | (10) |  |  | (1,008) |
Recoveries |  | 1 |  |  | 1 |  |  | 4 |  |  | 49 |  |  | 55 |
Provision (release) |  | 2,490 |  |  | (134) |  |  | (361) |  |  | (206) |  |  | 1,789 |
ALL balance at December 31, 2019 |  | $ | 10,098 |  |  | $ | 1,272 |  |  | $ | 327 |  |  | $ | 78 |  |  | $ | 11,775 |
Individually evaluated for impairment |  | $ | 574 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 574 |
Collectively evaluated for impairment |  | $ | 9,524 |  |  | $ | 1,272 |  |  | $ | 327 |  |  | $ | 78 |  |  | $ | 11,201 |
The following tables summarize the primary segments of the ALL, segregated into the amount required for loans individually evaluated for impairment and the amount required for loans collectively evaluated for impairment as of December 31, 2021 and December 31, 2020, respectively, for the PCI loan portfolio:
(Dollars in thousands) |  |  |  | Residential |  |  |  | Consumer |  | Total
ALL balance as of December 31, 2020 |  |  |  | $ | 84 |  |  |  |  | $ | — |  |  | $ | 84 |
Charge-offs |  |  |  | (3) |  |  |  |  | — |  |  | (3) |
Provision |  |  |  | 463 |  |  |  |  | 119 |  |  | 582 |
ALL balance at December 31, 2021 |  |  |  | $ | 544 |  |  |  |  | $ | 119 |  |  | $ | 663 |
Collectively evaluated for impairment |  |  |  | $ | 544 |  |  |  |  | $ | 119 |  |  | 663 |
(Dollars in thousands) |  |  |  | Residential |  |  |  | Consumer |  | Total
ALL balance as of December 31, 2019 |  |  |  | $ | — |  |  |  |  | $ | — |  |  | $ | — |
Charge-offs |  |  |  | (11) |  |  |  |  | — |  |  | (11) |
Provision |  |  |  | 95 |  |  |  |  | — |  |  | 95 |
ALL balance at December 31, 2020 |  |  |  | $ | 84 |  |  |  |  | $ | — |  |  | $ | 84 |
Collectively evaluated for impairment |  |  |  | $ | 84 |  |  |  |  | $ | — |  |  | $ | 84 |
Loans Identified as Troubled Debt Restructuring | The following table presents details related to loans identified as TDRs during the years ended December 31, 2021 and 2020:
|  | New TDRs 1
|  | December 31, 2021 |  | December 31, 2020
(Dollars in thousands) |  | Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment |  | Number of Contracts |  | Pre-Modification Outstanding Recorded Investment |  | Post-Modification Outstanding Recorded Investment
Commercial: |  |  |  |  |  |  |  |  |  |  |  |
Commercial business |  | 2 |  |  | $ | 5,200 |  |  | $ | 4,836 |  |  | 6 |  |  | $ | 6,294 |  |  | $ | 5,326 |
Commercial real estate |  | — |  |  | — |  |  | — |  |  | 2 |  |  | 159 |  |  | 150 |
Total commercial |  | 2 |  |  | 5,200 |  |  | 4,836 |  |  | 8 |  |  | 6,453 |  |  | 5,476 |
Residential |  | — |  |  | — |  |  | — |  |  | 1 |  |  | 87 |  |  | 86 |
Total |  | 2 |  |  | $ | 5,200 |  |  | $ | 4,836 |  |  | 9 |  |  | $ | 6,540 |  |  | $ | 5,562 |
1 The pre-modification and post-modification balances represent the balances outstanding immediately before and after modification of the loan.
Financing Receivable, Accretiable Yield | Accretable yield, or income expected to be collected, is as follows:
(Dollars in thousands) |  | As of December 31, 2021 |  | As of December 31, 2020
Beginning balance |  | $ | 8,313 |  |  | $ | — |
New loans purchased |  | — |  |  | 11,746 |
Accretion of income |  | (3,947) |  |  | (2,945) |
Reclassification from non-accretable difference |  | 2,139 |  |  | (488) |
Ending balance |  | $ | 6,505 |  |  | $ | 8,313 |
Summary of Loans Acquired | PCI loans purchased during 2020, for which it was probable at acquisition that all contractually required payments would not be collected are as follows:
(Dollars in thousands) |  |  |  | As of December 31, 2020
Contractually required payments receivable of loans purchased during the period: |  |  |  |
Commercial |  |  |  | $ | 36,046 |
Residential |  |  |  | 47,787 |
Consumer |  |  |  | 2,990 |
Cash flows expected to be collected at acquisition |  |  |  | $ | 86,823 |
Fair value of loans acquired at acquisition |  |  |  | $ | 50,235 |

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