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Loans (Tables)

12 Months Ended

Dec. 31, 2018

Loans and Leases Receivable Disclosure [Abstract]

Composition of Loan Portfolio

The following table shows the composition of the Company's loan portfolio as of December 31, 2018 and 2017:

	December 31, 2018							December 31, 2017
Commercial
Real estate	$	353,243,000			28.5	%		$	323,809,000			27.8	%
Construction	27,304,000				2.2	%		38,056,000				3.3	%
Other	196,391,000				15.9	%		181,528,000				15.6	%
Municipal	51,128,000				4.1	%		33,391,000				2.9	%
Residential
Term	469,145,000				37.9	%		432,661,000				37.1	%
Construction	17,743,000				1.4	%		17,868,000				1.5	%
Home equity line of credit	98,469,000				8.0	%		111,302,000				9.6	%
Consumer	24,860,000				2.0	%		25,524,000				2.2	%
Total loans	$	1,238,283,000			100.0	%		$	1,164,139,000			100.0	%

Loans to Directors, Officers and Employees which exceed $60,000

A summary of loans to directors and executive officers is as follows:

For the years ended December 31,	2018				2017
Balance at beginning of year	$	22,354,000			$	23,293,000
New loans	1,341,000				867,000
Repayments	(1,192,000		)		(1,806,000		)
Retired director	(354,000		)		—
Balance at end of year	$	22,149,000			$	22,354,000

Past Due Loans Aging

Information on the past-due status of loans as of December 31, 2018, is presented in the following table:

	30-59 Days Past Due				60-89 Days Past Due				90+ Days Past Due				All Past Due				Current				Total				90+ Days & Accruing
Commercial
Real estate	$	1,274,000			$	—			$	777,000			$	2,051,000			$	351,192,000			$	353,243,000			$	—
Construction	—				10,000				—				10,000				27,294,000				27,304,000				—
Other	455,000				5,000				120,000				580,000				195,811,000				196,391,000				—
Municipal	—				—				—				—				51,128,000				51,128,000				—
Residential
Term	1,097,000				3,518,000				2,023,000				6,638,000				462,507,000				469,145,000				339,000
Construction	76,000				—				—				76,000				17,667,000				17,743,000				—
Home equity line of credit	2,819,000				419,000				493,000				3,731,000				94,738,000				98,469,000				—
Consumer	237,000				25,000				27,000				289,000				24,571,000				24,860,000				12,000
Total	$	5,958,000			$	3,977,000			$	3,440,000			$	13,375,000			$	1,224,908,000			$	1,238,283,000			$	351,000

Information on the past-due status of loans as of December 31, 2017, is presented in the following table:

	30-59 Days Past Due				60-89 Days Past Due				90+ Days Past Due				All Past Due				Current				Total				90+ Days & Accruing
Commercial
Real estate	$	574,000			$	80,000			$	220,000			$	874,000			$	322,935,000			$	323,809,000			$	—
Construction	—				—				—				—				38,056,000				38,056,000				—
Other	542,000				6,663,000				574,000				7,779,000				173,749,000				181,528,000				—
Municipal	—				—				—				—				33,391,000				33,391,000				—
Residential
Term	1,031,000				4,372,000				2,256,000				7,659,000				425,002,000				432,661,000				436,000
Construction	101,000				370,000				—				471,000				17,397,000				17,868,000				—
Home equity line of credit	537,000				445,000				725,000				1,707,000				109,595,000				111,302,000				—
Consumer	159,000				18,000				9,000				186,000				25,338,000				25,524,000				9,000
Total	$	2,944,000			$	11,948,000			$	3,784,000			$	18,676,000			$	1,145,463,000			$	1,164,139,000			$	445,000

Nonaccrual Loans

Information on nonaccrual loans as of December 31, 2018 and 2017 is presented in the following table:

As of December 31,	2018				2017
Commercial
Real estate	$	1,226,000			$	752,000
Construction	—				—
Other	8,664,000				9,357,000
Municipal	—				—
Residential
Term	4,062,000				3,778,000
Construction	—				—
Home equity line of credit	760,000				833,000
Consumer	15,000				16,000
Total	$	14,727,000			$	14,736,000

Impaired Loans

Information regarding impaired loans is as follows:

For the years ended December 31,	2018				2017				2016
Average investment in impaired loans	$	31,805,000			$	29,108,000			$	28,217,000
Interest income recognized on impaired loans, all on cash basis	864,000				784,000				1,104,000

As of December 31,	2018				2017
Balance of impaired loans	$	31,751,000			$	31,392,000
Less portion for which no allowance for loan losses is allocated	(21,030,000		)		(18,023,000		)
Portion of impaired loan balance for which an allowance for loan losses is allocated	$	10,721,000			$	13,369,000
Portion of allowance for loan losses allocated to the impaired loan balance	$	2,308,000			$	1,812,000

Impaired Loans by class of financing receivable

A breakdown of impaired loans by category as of December 31, 2018, is presented in the following table:

	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Recognized Interest Income
With No Related Allowance
Commercial
Real estate	$	8,718,000			$	9,161,000			$	—			$	5,536,000			$	380,000
Construction	721,000				721,000				—				762,000				43,000
Other	1,468,000				1,555,000				—				2,037,000				32,000
Municipal	—				—				—				—				—
Residential
Term	9,136,000				10,317,000				—				9,427,000				289,000
Construction	—				—				—				—				—
Home equity line of credit	972,000				1,035,000				—				1,001,000				20,000
Consumer	15,000				42,000				—				13,000				—
	$	21,030,000			$	22,831,000			$	—			$	18,776,000			$	764,000
With an Allowance Recorded
Commercial
Real estate	$	1,042,000			$	1,059,000			$	260,000			$	3,477,000			$	42,000
Construction	—				—				—				—				—
Other	7,791,000				8,216,000				1,696,000				7,471,000				5,000
Municipal	—				—				—				—				—
Residential
Term	1,768,000				1,998,000				335,000				1,982,000				53,000
Construction	—				—				—				—				—
Home equity line of credit	120,000				124,000				17,000				99,000				—
Consumer	—				—				—				—				—
	$	10,721,000			$	11,397,000			$	2,308,000			$	13,029,000			$	100,000
Total
Commercial
Real estate	$	9,760,000			$	10,220,000			$	260,000			$	9,013,000			$	422,000
Construction	721,000				721,000				—				762,000				43,000
Other	9,259,000				9,771,000				1,696,000				9,508,000				37,000
Municipal	—				—				—				—				—
Residential
Term	10,904,000				12,315,000				335,000				11,409,000				342,000
Construction	—				—				—				—				—
Home equity line of credit	1,092,000				1,159,000				17,000				1,100,000				20,000
Consumer	15,000				42,000				—				13,000				—
	$	31,751,000			$	34,228,000			$	2,308,000			$	31,805,000			$	864,000

Substantially all interest income recognized on impaired loans for all classes of financing receivables was recognized on a cash basis as received.

A breakdown of impaired loans by category as of December 31, 2017, is presented in the following table:

	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Recognized Interest Income
With No Related Allowance
Commercial
Real estate	$	3,791,000			$	3,996,000			$	—			$	5,124,000			$	164,000
Construction	741,000				741,000				—				62,000				38,000
Other	2,591,000				2,671,000				—				1,908,000				36,000
Municipal	—				—				—				—				—
Residential
Term	9,769,000				10,909,000				—				10,770,000				297,000
Construction	—				—				—				—				—
Home equity line of credit	1,115,000				1,429,000				—				1,351,000				18,000
Consumer	16,000				29,000				—				12,000				—
	$	18,023,000			$	19,775,000			$	—			$	19,227,000			$	553,000
With an Allowance Recorded
Commercial
Real estate	$	3,999,000			$	4,116,000			$	224,000			$	4,460,000			$	152,000
Construction	—				—				—				699,000				—
Other	7,327,000				7,371,000				1,309,000				2,584,000				—
Municipal	—				—				—				—				—
Residential
Term	1,979,000				2,144,000				255,000				2,106,000				79,000
Construction	—				—				—				—				—
Home equity line of credit	64,000				67,000				24,000				32,000				—
Consumer	—				—				—				—				—
	$	13,369,000			$	13,698,000			$	1,812,000			$	9,881,000			$	231,000
Total
Commercial
Real estate	$	7,790,000			$	8,112,000			$	224,000			$	9,584,000			$	316,000
Construction	741,000				741,000				—				761,000				38,000
Other	9,918,000				10,042,000				1,309,000				4,492,000				36,000
Municipal	—				—				—				—				—
Residential
Term	11,748,000				13,053,000				255,000				12,876,000				376,000
Construction	—				—				—				—				—
Home equity line of credit	1,179,000				1,496,000				24,000				1,383,000				18,000
Consumer	16,000				29,000				—				12,000				—
	$	31,392,000			$	33,473,000			$	1,812,000			$	29,108,000			$	784,000

A breakdown of impaired loans by category as of December 31, 2016, is presented in the following table:

	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Recognized Interest Income
With No Related Allowance
Commercial
Real estate	$	5,201,000			$	5,614,000			$	—			$	6,252,000			$	220,000
Construction	—				—				—				32,000				—
Other	1,671,000				1,852,000				—				1,074,000				86,000
Municipal	—				—				—				—				—
Residential
Term	11,483,000				12,654,000				—				11,025,000				442,000
Construction	—				—				—				—				—
Home equity line of credit	1,361,000				1,733,000				—				1,213,000				33,000
Consumer	—				—				—				9,000				—
	$	19,716,000			$	21,853,000			$	—			$	19,605,000			$	781,000
With an Allowance Recorded
Commercial
Real estate	$	4,820,000			$	4,925,000			$	505,000			$	4,153,000			$	186,000
Construction	763,000				763,000				100,000				816,000				36,000
Other	72,000				72,000				39,000				317,000				—
Municipal	—				—				—				—				—
Residential
Term	2,186,000				2,328,000				304,000				3,209,000				101,000
Construction	—				—				—				—				—
Home equity line of credit	26,000				28,000				26,000				69,000				—
Consumer	—				—				—				48,000				—
	$	7,867,000			$	8,116,000			$	974,000			$	8,612,000			$	323,000
Total
Commercial
Real estate	$	10,021,000			$	10,539,000			$	505,000			$	10,405,000			$	406,000
Construction	763,000				763,000				100,000				848,000				36,000
Other	1,743,000				1,924,000				39,000				1,391,000				86,000
Municipal	—				—				—				—				—
Residential
Term	13,669,000				14,982,000				304,000				14,234,000				543,000
Construction	—				—				—				—				—
Home equity line of credit	1,387,000				1,761,000				26,000				1,282,000				33,000
Consumer	—				—				—				57,000				—
	$	27,583,000			$	29,969,000			$	974,000			$	28,217,000			$	1,104,000

Troubled Debt Restructurings on Financing Receivables

The following table shows TDRs by class and the specific reserve as of December 31, 2018:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	17			$	8,631,000			$	132,000
Construction	1			721,000				—
Other	10			7,298,000				1,276,000
Municipal	—			—				—
Residential
Term	45			8,074,000				160,000
Construction	—			—				—
Home equity line of credit	3			498,000				—
Consumer	—			—				—
	76			$	25,222,000			$	1,568,000

The following table shows TDRs by class and the specific reserve as of December 31, 2017:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	8			$	7,038,000			$	90,000
Construction	1			741,000				—
Other	4			561,000				—
Municipal	—			—				—
Residential
Term	46			8,948,000				233,000
Construction	—			—				—
Home equity line of credit	3			513,000				—
Consumer	—			—				—
	62			$	17,801,000			$	323,000

As of December 31, 2018, nine of the loans classified as TDRs with a total balance of $1,013,000 were more than 30 days past due. None of these loans had been placed on TDR status in the previous 12 months. The following table shows past-due TDRs by class and the associated specific reserves included in the allowance for loan losses as of December 31, 2018:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	—			$	—			$	—
Construction	—			—				—
Other	—			—				—
Municipal	—			—				—
Residential
Term	8			846,000				26,000
Construction	—			—				—
Home equity line of credit	1			167,000				—
Consumer	—			—				—
	9			$	1,013,000			$	26,000

As of December 31, 2017, 12 of the loans classified as TDRs with a total balance of $1,407,000 were more than 30 days past due. None of these loans had been placed on TDR status in the previous 12 months. The following table shows past-due TDRs by class and the associated specific reserves included in the allowance for loan losses as of December 31, 2017:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	—			$	—			$	—
Construction	—			—				—
Other	—			—				—
Municipal	—			—				—
Residential
Term	11			1,240,000				44,000
Construction	—			—				—
Home equity line of credit	1			167,000				—
Consumer	—			—				—
	12			$	1,407,000			$	44,000

For the year ended December 31, 2018, 18 loans were place on TDR status. The following table shows these TDRs by class and the associated specific reserves included in the allowance for loan losses as of December 31, 2018:

	Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment				Specific Reserves
Commercial
Real estate	9			$	1,729,000			$	1,727,000			42,000
Construction	—			—				—				—
Other	6			7,116,000				6,798,000				1,276,000
Municipal	—			—				—				—
Residential
Term	3			520,000				507,000				26,000
Construction	—			—				—				—
Home equity line of credit	—			—				—				—
Consumer	—			—				—				—
	18			$	9,365,000			$	9,032,000			1,344,000

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