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Loans (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2020 and 2019 and at December 31, 2019:

			September 30, 2020												December 31, 2019												September 30, 2019
Commercial
Real estate			$	407,128,000					28.3			%			$	372,810,000					28.7			%			$	368,165,000					29.1			%
Construction			52,038,000						3.6			%			38,084,000						3.0			%			37,242,000						2.9			%
Other			309,297,000						21.5			%			218,773,000						16.9			%			201,859,000						16.0			%
Municipal			44,110,000						3.1			%			41,288,000						3.2			%			36,522,000						2.9			%
Residential
Term			497,667,000						34.6			%			492,455,000						37.9			%			485,490,000						38.4			%
Construction			16,101,000						1.2			%			14,813,000						1.2			%			14,118,000						1.1			%
Home equity line of credit			82,982,000						5.8			%			92,349,000						7.1			%			94,144,000						7.5			%
Consumer			27,323,000						1.9			%			26,503,000						2.0			%			25,919,000						2.1			%
Total			$	1,436,646,000					100.0			%			$	1,297,075,000					100.0			%			$	1,263,459,000					100.0			%

Past Due Loans Aging

For all loan classes, loans over 30 days past due are considered delinquent. Information on the past-due status of loans by class of financing receivable as of September 30, 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			$	2,397,000					$	58,000					$	454,000					$	2,909,000					$	404,219,000					$	407,128,000					$	—
Construction			—						—						80,000						80,000						51,958,000						52,038,000						—
Other			547,000						258,000						1,871,000						2,676,000						306,621,000						309,297,000						1,464,000
Municipal			—						—						—						—						44,110,000						44,110,000						—
Residential
Term			2,550,000						357,000						1,602,000						4,509,000						493,158,000						497,667,000						—
Construction			—						—						—						—						16,101,000						16,101,000						—
Home equity line of credit			868,000						65,000						1,392,000						2,325,000						80,657,000						82,982,000						—
Consumer			219,000						28,000						30,000						277,000						27,046,000						27,323,000						30,000
Total			$	6,581,000					$	766,000					$	5,429,000					$	12,776,000					$	1,423,870,000					$	1,436,646,000					$	1,494,000

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 September 30, 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			$	305,000					$	233,000					$	661,000					$	1,199,000					$	366,966,000					$	368,165,000					$	—
Construction			14,000						279,000						—						293,000						36,949,000						37,242,000						—
Other			35,000						289,000						339,000						663,000						201,196,000						201,859,000						—
Municipal			—						—						—						—						36,522,000						36,522,000						—
Residential
Term			650,000						767,000						3,806,000						5,223,000						480,267,000						485,490,000						—
Construction			—						—						—						—						14,118,000						14,118,000						—
Home equity line of credit			693,000						306,000						868,000						1,867,000						92,277,000						94,144,000						—
Consumer			234,000						317,000						18,000						569,000						25,350,000						25,919,000						18,000
Total			$	1,931,000					$	2,191,000					$	5,692,000					$	9,814,000					$	1,253,645,000					$	1,263,459,000					$	18,000

Nonaccrual Loans

Information on nonaccrual loans as of September 30, 2020 and 2019 and at December 31, 2019 is presented in the following table:

			September 30, 2020						December 31, 2019						September 30, 2019
Commercial
Real estate			$	1,771,000					$	1,784,000					$	1,807,000
Construction			307,000						256,000						256,000
Other			503,000						6,534,000						6,871,000
Municipal			—						—						—
Residential
Term			4,467,000						5,899,000						6,840,000
Construction			—						—						—
Home equity line of credit			2,063,000						2,171,000						1,078,000
Consumer			—						5,000						6,000
Total			$	9,111,000					$	16,649,000					$	16,858,000

Impaired Loans by Class of Financing Receivable

A breakdown of impaired loans by class of financing receivable as of and for the periods ended September 30, 2020 is presented in the following table:

																					For the nine months ended September 30, 2020												For the quarter ended September 30, 2020
			Recorded Investment						Unpaid Principal Balance						Related Allowance						Average Recorded Investment						Recognized Interest Income						Average Recorded Investment						Recognized Interest Income
With No Related Allowance
Commercial
Real estate			$	3,730,000					$	4,528,000					$	—					$	4,673,000					$	117,000					$	4,068,000					$	33,000
Construction			308,000						337,000						—						402,000						—						256,000						—
Other			862,000						887,000						—						796,000						19,000						814,000						6,000
Municipal			—						—						—						—						—						—						—
Residential
Term			7,783,000						9,058,000						—						9,173,000						123,000						8,024,000						31,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			1,478,000						1,551,000						—						1,284,000						10,000						1,438,000						2,000
Consumer			—						—						—						—						—						—						—
			$	14,161,000					$	16,361,000					$	—					$	16,328,000					$	269,000					$	14,600,000					$	72,000
With an Allowance Recorded
Commercial
Real estate			$	1,023,000					$	1,047,000					$	135,000					$	1,032,000					$	32,000					$	1,027,000					$	11,000
Construction			701,000						701,000						19,000						546,000						25,000						701,000						8,000
Other			161,000						183,000						128,000						1,523,000						—						143,000						—
Municipal			—						—						—						—						—						—						—
Residential
Term			2,399,000						2,466,000						204,000						2,002,000						63,000						2,207,000						27,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			886,000						886,000						403,000						981,000						1,000						870,000						1,000
Consumer			10,000						10,000						1,000						10,000						—						3,000						—
			$	5,180,000					$	5,293,000					$	890,000					$	6,094,000					$	121,000					$	4,951,000					$	47,000
Total
Commercial
Real estate			$	4,753,000					$	5,575,000					$	135,000					$	5,705,000					$	149,000					$	5,095,000					$	44,000
Construction			1,009,000						1,038,000						19,000						948,000						25,000						957,000						8,000
Other			1,023,000						1,070,000						128,000						2,319,000						19,000						957,000						6,000
Municipal			—						—						—						—						—						—						—
Residential
Term			10,182,000						11,524,000						204,000						11,175,000						186,000						10,231,000						58,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			2,364,000						2,437,000						403,000						2,265,000						11,000						2,308,000						3,000
Consumer			10,000						10,000						1,000						10,000						—						3,000						—
			$	19,341,000					$	21,654,000					$	890,000					$	22,422,000					$	390,000					$	19,551,000					$	119,000

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 periods ended September 30, 2019 is presented in the following table:

																					For the nine months ended September 30, 2019												For the quarter ended September 30, 2019
			Recorded Investment						Unpaid Principal Balance						Related Allowance						Average Recorded Investment						Recognized Interest Income						Average Recorded Investment						Recognized Interest Income
With No Related Allowance
Commercial
Real estate			$	7,332,000					$	7,630,000					$	—					$	7,929,000					$	266,000					$	7,242,000					$	83,000
Construction			978,000						990,000						—						929,000						35,000						980,000						12,000
Other			892,000						930,000						—						997,000						22,000						921,000						8,000
Municipal			—						—						—						—						—						—						—
Residential
Term			10,664,000						12,305,000						—						9,877,000						202,000						10,487,000						63,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			827,000						883,000						—						965,000						16,000						917,000						6,000
Consumer			—						—						—						—						—						—						—
			$	20,693,000					$	22,738,000					$	—					$	20,697,000					$	541,000					$	20,547,000					$	172,000
With an Allowance Recorded
Commercial
Real estate			$	1,717,000					$	1,732,000					$	258,000					$	1,538,000					$	72,000					$	1,721,000					$	23,000
Construction			—						—						—						—						—						—						—
Other			6,440,000						6,949,000						1,275,000						6,918,000						1,000						6,465,000						1,000
Municipal			—						—						—						—						—						—						—
Residential
Term			2,782,000						3,121,000						337,000						2,306,000						61,000						2,858,000						25,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			571,000						590,000						184,000						99,000						—						248,000						—
Consumer			6,000						6,000						6,000						1,000						—						2,000						—
			$	11,516,000					$	12,398,000					$	2,060,000					$	10,862,000					$	134,000					$	11,294,000					$	49,000
Total
Commercial
Real estate			$	9,049,000					$	9,362,000					$	258,000					$	9,467,000					$	338,000					$	8,963,000					$	106,000
Construction			978,000						990,000						—						929,000						35,000						980,000						12,000
Other			7,332,000						7,879,000						1,275,000						7,915,000						23,000						7,386,000						9,000
Municipal			—						—						—						—						—						—						—
Residential
Term			13,446,000						15,426,000						337,000						12,183,000						263,000						13,345,000						88,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			1,398,000						1,473,000						184,000						1,064,000						16,000						1,165,000						6,000
Consumer			6,000						6,000						6,000						1,000						—						2,000						—
			$	32,209,000					$	35,136,000					$	2,060,000					$	31,559,000					$	675,000					$	31,841,000					$	221,000

Troubled Debt Restructurings on Financing Receivables

The following table shows TDRs by class and the specific reserve as of September 30, 2020:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			16						$	4,054,000					$	130,000
Construction			1						701,000						19,000
Other			6						729,000						92,000
Municipal			—						—						—
Residential
Term			51						7,430,000						153,000
Construction			—						—						—
Home equity line of credit			3						466,000						—
Consumer			1						10,000						1,000
			78						$	13,390,000					$	395,000

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 September 30, 2019:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			19						$	7,559,000					$	249,000
Construction			1						721,000						—
Other			7						6,951,000						1,232,000
Municipal			—						—						—
Residential
Term			52						8,563,000						202,000
Construction			—						—						—
Home equity line of credit			3						487,000						—
Consumer			—						—						—
			82						$	24,281,000					$	1,683,000

As of September 30, 2020, 15 of the loans classified as TDRs with a total balance of $2,814,000 were more than 30 days past due. Of these loans, two 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 September 30, 2020:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			3						$	1,472,000					$	—
Construction			—						—						—
Other			4						424,000						92,000
Municipal			—						—						—
Residential
Term			6						743,000						—
Construction			—						—						—
Home equity line of credit			1						165,000						—
Consumer			1						10,000						1,000
			15						$	2,814,000					$	93,000

As of September 30, 2019, nine of the loans classified as TDRs with a total balance of $1,084,000 were more than 30 days past due. Of these loans, four 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 September 30, 2019:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			—						$	—					$	—
Construction			—						—						—
Other			3						251,000						131,000
Municipal			—						—						—
Residential
Term			5						666,000						11,000
Construction			—						—						—
Home equity line of credit			1						167,000						—
Consumer			—						—						—
			9						$	1,084,000					$	142,000

For the nine months ended September 30, 2020, three 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 September 30, 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						187,000						23,000
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			1						10,000						10,000						1,000
			3						$	245,000					$	197,000					$	24,000

For the nine months ended September 30, 2019, 10 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 September 30, 2019:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			2						$	110,000					$	95,000					$	95,000
Construction			—						—						—						—
Other			—						—						—						—
Municipal			—						—						—						—
Residential
Term			8						998,000						882,000						73,000
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			10						$	1,108,000					$	977,000					$	168,000

For the quarter ended September 30, 2020, one loan was 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 September 30, 2020:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			—						—						—						—
Other			—						—						—						—
Municipal			—						—						—						—
Residential
Term			—						—						—						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			1						10,000						10,000						1,000
			1						$	10,000					$	10,000					$	1,000

For the quarter ended September 30, 2019, 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 September 30, 2019:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			—						—						—						—
Other			—						—						—						—
Municipal			—						—						—						—
Residential
Term			2						317,000						276,000						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			2						$	317,000					$	276,000					$	—

Modification Statuses by Portfolio Segment

Modification statuses by portfolio segment are summarized below:

Commercial/Municipal Loan Modifications
			Units			Percentage			Balance			Percentage
Paid Off			34			6.0		%	$	6,031,000		3.0		%
Subsequent Modification			41			7.0		%	20,443,000			9.0		%
Still in Original Modification			55			9.0		%	30,188,000			13.0		%
Out of Modification			452			78.0		%	171,407,000			75.0		%
Total			582			100.0		%	$	228,069,000		100.0		%
Residential Real Estate Modifications
			Units			Percentage			Balance			Percentage
Paid Off			17			5.0		%	$	3,102,000		6.0		%
Subsequent Modification			97			28.0		%	13,857,000			27.0		%
Still in Original Modification			125			35.0		%	15,565,000			31.0		%
Out of Modification			111			32.0		%	17,949,000			36.0		%
Total			350			100.0		%	$	50,473,000		100.0		%

Consumer Loan Modifications
			Units			Percentage			Balance			Percentage
Paid Off			8			13.0		%	$	95,000		9.0		%
Subsequent Modification			—			—		%	—			—		%
Still in Original Modification			52			81.0		%	967,000			86.0		%
Out of Modification			4			6.0		%	58,000			5.0		%
Total			64			100.0		%	$	1,120,000		100.0		%

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