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Loans (Tables)

3 Months Ended

Mar. 31, 2020

Loans and Leases Receivable Disclosure [Abstract]

Composition of Loan Portfolio

The following table shows the composition of the Company's loan portfolio as of March 31, 2020 and 2019 and at December 31, 2019:

	March 31, 2020						December 31, 2019						March 31, 2019
Commercial
Real estate	$	382,753,000			28.5	%	$	372,810,000			28.7	%	$	357,760,000			28.3	%
Construction	43,913,000				3.3	%	38,084,000				3.0	%	34,231,000				2.7	%
Other	237,896,000				17.7	%	218,773,000				16.9	%	205,462,000				16.2	%
Municipal	43,537,000				3.2	%	41,288,000				3.2	%	54,246,000				4.3	%
Residential
Term	500,971,000				37.3	%	492,455,000				37.9	%	474,241,000				37.5	%
Construction	15,202,000				1.1	%	14,813,000				1.2	%	18,450,000				1.5	%
Home equity line of credit	90,674,000				6.7	%	92,349,000				7.1	%	95,692,000				7.6	%
Consumer	29,262,000				2.2	%	26,503,000				2.0	%	24,557,000				1.9	%
Total	$	1,344,208,000			100.0	%	$	1,297,075,000			100.0	%	$	1,264,639,000			100.0	%

Past Due Loans Aging

Information on the past-due status of loans by class of financing receivable as of March 31, 2020, 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	$	2,935,000			$	2,000			$	1,297,000			$	4,234,000			$	378,519,000			$	382,753,000			$	22,000
Construction	59,000				—				246,000				305,000				43,608,000				43,913,000				—
Other	1,678,000				295,000				3,895,000				5,868,000				232,028,000				237,896,000				3,536,000
Municipal	—				—				—				—				43,537,000				43,537,000				—
Residential
Term	4,270,000				171,000				3,320,000				7,761,000				493,210,000				500,971,000				192,000
Construction	—				—				—				—				15,202,000				15,202,000				—
Home equity line of credit	1,566,000				264,000				1,481,000				3,311,000				87,363,000				90,674,000				—
Consumer	250,000				18,000				82,000				350,000				28,912,000				29,262,000				20,000
Total	$	10,758,000			$	750,000			$	10,321,000			$	21,829,000			$	1,322,379,000			$	1,344,208,000			$	3,770,000

Information on the past-due status of loans by class of financing receivable as of December 31, 2019, 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	$	786,000			$	377,000			$	611,000			$	1,774,000			$	371,036,000			$	372,810,000			$	—
Construction	—				14,000				257,000				271,000				37,813,000				38,084,000				—
Other	2,764,000				465,000				1,799,000				5,028,000				213,745,000				218,773,000				1,464,000
Municipal	—				—				—				—				41,288,000				41,288,000				—
Residential
Term	1,129,000				1,132,000				2,379,000				4,640,000				487,815,000				492,455,000				86,000
Construction	—				—				—				—				14,813,000				14,813,000				—
Home equity line of credit	1,169,000				58,000				1,730,000				2,957,000				89,392,000				92,349,000				—
Consumer	291,000				46,000				10,000				347,000				26,156,000				26,503,000				10,000
Total	$	6,139,000			$	2,092,000			$	6,786,000			$	15,017,000			$	1,282,058,000			$	1,297,075,000			$	1,560,000

Information on the past-due status of loans by class of financing receivable as of March 31, 2019, 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	$	282,000			$	825,000			$	621,000			$	1,728,000			$	356,032,000			$	357,760,000			$	—
Construction	47,000				—				286,000				333,000				33,898,000				34,231,000				—
Other	664,000				63,000				303,000				1,030,000				204,432,000				205,462,000				—
Municipal	—				—				—				—				54,246,000				54,246,000				—
Residential
Term	2,659,000				1,153,000				1,434,000				5,246,000				468,995,000				474,241,000				—
Construction	—				—				—				—				18,450,000				18,450,000				—
Home equity line of credit	1,985,000				11,000				369,000				2,365,000				93,327,000				95,692,000				—
Consumer	411,000				163,000				4,000				578,000				23,979,000				24,557,000				4,000
Total	$	6,048,000			$	2,215,000			$	3,017,000			$	11,280,000			$	1,253,359,000			$	1,264,639,000			$	4,000

Nonaccrual Loans

Information on nonaccrual loans as of March 31, 2020 and 2019 and at December 31, 2019 is presented in the following table:

	March 31, 2020				December 31, 2019				March 31, 2019
Commercial
Real estate	$	1,748,000			$	1,784,000			$	1,468,000
Construction	246,000				256,000				286,000
Other	457,000				6,534,000				7,067,000
Municipal	—				—				—
Residential
Term	5,615,000				5,899,000				4,211,000
Construction	—				—				—
Home equity line of credit	1,916,000				2,171,000				702,000
Consumer	66,000				5,000				2,000
Total	$	10,048,000			$	16,649,000			$	13,736,000

Impaired Loans by Class of Financing Receivable

A breakdown of impaired loans by class of financing receivable as of and for the period ended March 31, 2020 is presented in the following table:

													For the three months ended March 31, 2020
	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Recognized Interest Income
With No Related Allowance
Commercial
Real estate	$	5,162,000			$	5,421,000			$	—			$	5,157,000			$	47,000
Construction	246,000				265,000				—				717,000				—
Other	818,000				848,000				—				793,000				3,000
Municipal	—				—				—				—				—
Residential
Term	10,378,000				12,135,000				—				10,015,000				67,000
Construction	—				—				—				—				—
Home equity line of credit	1,232,000				1,306,000				—				1,185,000				4,000
Consumer	—				—				—				—				—
	$	17,836,000			$	19,975,000			$	—			$	17,867,000			$	121,000
With an Allowance Recorded
Commercial
Real estate	$	1,061,000			$	1,082,000			$	230,000			$	1,064,000			$	8,000
Construction	701,000				701,000				3,000				234,000				10,000
Other	172,000				194,000				172,000				4,269,000				—
Municipal	—				—				—				—				—
Residential
Term	1,660,000				1,755,000				233,000				1,999,000				13,000
Construction	—				—				—				—				—
Home equity line of credit	996,000				1,002,000				296,000				1,124,000				—
Consumer	67,000				67,000				58,000				26,000				—
	$	4,657,000			$	4,801,000			$	992,000			$	8,716,000			$	31,000
Total
Commercial
Real estate	$	6,223,000			$	6,503,000			$	230,000			$	6,221,000			$	55,000
Construction	947,000				966,000				3,000				951,000				10,000
Other	990,000				1,042,000				172,000				5,062,000				3,000
Municipal	—				—				—				—				—
Residential
Term	12,038,000				13,890,000				233,000				12,014,000				80,000
Construction	—				—				—				—				—
Home equity line of credit	2,228,000				2,308,000				296,000				2,309,000				4,000
Consumer	67,000				67,000				58,000				26,000				—
	$	22,493,000			$	24,776,000			$	992,000			$	26,583,000			$	152,000

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 class of financing receivable as of and for the year ended December 31, 2019 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	$	5,235,000			$	5,492,000			$	—			$	7,611,000			$	228,000
Construction	958,000				970,000				—				936,000				47,000
Other	756,000				786,000				—				965,000				29,000
Municipal	—				—				—				—				—
Residential
Term	10,176,000				11,931,000				—				10,033,000				269,000
Construction	—				—				—				—				—
Home equity line of credit	1,087,000				1,151,000				—				997,000				20,000
Consumer	—				—				—				—				—
	$	18,212,000			$	20,330,000			$	—			$	20,542,000			$	593,000
With an Allowance Recorded
Commercial
Real estate	$	1,074,000			$	1,093,000			$	251,000			$	1,528,000			$	60,000
Construction	—				—				—				—				—
Other	6,319,000				6,925,000				1,273,000				6,778,000				—
Municipal	—				—				—				—				—
Residential
Term	2,263,000				2,412,000				237,000				2,424,000				82,000
Construction	—				—				—				—				—
Home equity line of credit	1,401,000				1,412,000				447,000				283,000				—
Consumer	5,000				6,000				5,000				2,000				—
	$	11,062,000			$	11,848,000			$	2,213,000			$	11,015,000			$	142,000
Total
Commercial
Real estate	$	6,309,000			$	6,585,000			$	251,000			$	9,139,000			$	288,000
Construction	958,000				970,000				—				936,000				47,000
Other	7,075,000				7,711,000				1,273,000				7,743,000				29,000
Municipal	—				—				—				—				—
Residential
Term	12,439,000				14,343,000				237,000				12,457,000				351,000
Construction	—				—				—				—				—
Home equity line of credit	2,488,000				2,563,000				447,000				1,280,000				20,000
Consumer	5,000				6,000				5,000				2,000				—
	$	29,274,000			$	32,178,000			$	2,213,000			$	31,557,000			$	735,000

A breakdown of impaired loans by class of financing receivable as of and for the period ended March 31, 2019 is presented in the following table:

													For the three months ended March 31, 2019
	Recorded Investment				Unpaid Principal Balance				Related Allowance				Average Recorded Investment				Recognized Interest Income
With No Related Allowance
Commercial
Real estate	$	8,391,000			$	8,779,000			$	—			$	8,741,000			$	90,000
Construction	1,007,000				1,007,000				—				817,000				12,000
Other	709,000				734,000				—				1,207,000				6,000
Municipal	—				—				—				—				—
Residential
Term	8,926,000				10,345,000				—				9,007,000				68,000
Construction	—				—				—				—				—
Home equity line of credit	1,009,000				1,071,000				—				976,000				5,000
Consumer	—				—				—				—				—
	$	20,042,000			$	21,936,000			$	—			$	20,748,000			$	181,000
With an Allowance Recorded
Commercial
Real estate	$	1,566,000			$	1,583,000			$	233,000			$	1,215,000			$	26,000
Construction	—				—				—				—				—
Other	6,944,000				7,315,000				1,485,000				7,511,000				—
Municipal	—				—				—				—				—
Residential
Term	1,993,000				2,131,000				348,000				1,845,000				17,000
Construction	—				—				—				—				—
Home equity line of credit	21,000				25,000				7,000				29,000				—
Consumer	2,000				2,000				2,000				1,000				—
	$	10,526,000			$	11,056,000			$	2,075,000			$	10,601,000			$	43,000
Total
Commercial
Real estate	$	9,957,000			$	10,362,000			$	233,000			$	9,956,000			$	116,000
Construction	1,007,000				1,007,000				—				817,000				12,000
Other	7,653,000				8,049,000				1,485,000				8,718,000				6,000
Municipal	—				—				—				—				—
Residential
Term	10,919,000				12,476,000				348,000				10,852,000				85,000
Construction	—				—				—				—				—
Home equity line of credit	1,030,000				1,096,000				7,000				1,005,000				5,000
Consumer	2,000				2,000				2,000				1,000				—
	$	30,568,000			$	32,992,000			$	2,075,000			$	31,349,000			$	224,000

Troubled Debt Restructurings on Financing Receivables

The following table shows TDRs by class and the specific reserve as of March 31, 2020:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	16			$	4,688,000			$	225,000
Construction	1			701,000				3,000
Other	7			779,000				131,000
Municipal	—			—				—
Residential
Term	54			8,321,000				197,000
Construction	—			—				—
Home equity line of credit	3			479,000				—
Consumer	—			—				—
	81			$	14,968,000			$	556,000

The following table shows TDRs by class and the specific reserve as of December 31, 2019:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	17			$	4,836,000			$	246,000
Construction	1			701,000				—
Other	8			6,932,000				1,231,000
Municipal	—			—				—
Residential
Term	52			8,472,000				200,000
Construction	—			—				—
Home equity line of credit	3			483,000				—
Consumer	—			—				—
	81			$	21,424,000			$	1,677,000

The following table shows TDRs by class and the specific reserve as of March 31, 2019:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	17			$	8,583,000			$	107,000
Construction	1			721,000				—
Other	10			7,257,000				1,275,000
Municipal	—			—				—
Residential
Term	49			8,331,000				225,000
Construction	—			—				—
Home equity line of credit	3			494,000				—
Consumer	—			—				—
	80			$	25,386,000			$	1,607,000

As of March 31, 2020, 22 of the loans classified as TDRs with a total balance of $3,622,000 were more than 30 days past due. Of these loans, one had been placed on TDR status in the previous 12 months. The following table shows these TDRs by class and the associated specific reserves included in the allowance for loan losses as of March 31, 2020:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	2			$	618,000			$	—
Construction	—			—				—
Other	4			540,000				131,000
Municipal	—			—				—
Residential
Term	15			2,297,000				24,000
Construction	—			—				—
Home equity line of credit	1			167,000				—
Consumer	—			—				—
	22			$	3,622,000			$	155,000

As of March 31, 2019, 10 of the loans classified as TDRs with a total balance of $1,129,000 were more than 30 days past due. Of these loans, three had been placed on TDR status in the previous 12 months. The following table shows these TDRs by class and the associated specific reserves included in the allowance for loan losses as of March 31, 2019:

	Number of Loans			Balance				Specific Reserves
Commercial
Real estate	—			$	—			$	—
Construction	—			—				—
Other	4			261,000				134,000
Municipal	—			—				—
Residential
Term	5			701,000				36,000
Construction	—			—				—
Home equity line of credit	1			167,000				—
Consumer	—			—				—
	10			$	1,129,000			$	170,000

For the three months ended March 31, 2020, two loans were placed 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 March 31, 2020:

	Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment				Specific Reserves
Commercial
Real estate	—			$	—			$	—			$	—
Construction	—			—				—				—
Other	—			—				—				—
Municipal	—			—				—				—
Residential
Term	2			235,000				190,000				—
Construction	—			—				—				—
Home equity line of credit	—			—				—				—
Consumer	—			—				—				—
	2			$	235,000			$	190,000			$	—

For the three months ended March 31, 2019, five loans were placed on TDR status. The following table shows these TDRs by class and associated specific reserves included in the allowance for loan losses as of March 31, 2019:

	Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment				Specific Reserves
Commercial
Real estate	—			$	—			$	—			$	—
Construction	—			—				—				—
Other	—			—				—				—
Municipal	—			—				—				—
Residential
Term	5			573,000				554,000				74,000
Construction	—			—				—				—
Home equity line of credit	—			—				—				—
Consumer	—			—				—				—
	5			$	573,000			$	554,000			$	74,000

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