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Allowance for Loan Losses (Tables)

9 Months Ended

Sep. 30, 2020

Receivables [Abstract]

Allowance for Loan Losses by Class of Financing Receivable and Allowance

A breakdown of the allowance for loan losses as of September 30, 2020, December 31, 2019, and September 30, 2019, by class of financing receivable and allowance element, is presented in the following tables:

As of September 30, 2020			Specific Reserves on Loans Evaluated Individually for Impairment						General Reserves on Loans Based on Historical Loss Experience						Reserves for Qualitative Factors						Unallocated Reserves						Total Reserves
Commercial
Real estate			$	135,000					$	686,000					$	3,940,000					$	—					$	4,761,000
Construction			19,000						87,000						501,000						—						607,000
Other			128,000						521,000						2,993,000						—						3,642,000
Municipal			—						—						139,000						—						139,000
Residential
Term			204,000						275,000						2,037,000						—						2,516,000
Construction			—						10,000						71,000						—						81,000
Home equity line of credit			403,000						79,000						975,000						—						1,457,000
Consumer			1,000						168,000						423,000						—						592,000
Unallocated			—						—						—						1,576,000						1,576,000
			$	890,000					$	1,826,000					$	11,079,000					$	1,576,000					$	15,371,000

As of December 31, 2019			Specific Reserves on Loans Evaluated Individually for Impairment						General Reserves on Loans Based on Historical Loss Experience						Reserves for Qualitative Factors						Unallocated Reserves						Total Reserves
Commercial
Real estate			$	251,000					$	729,000					$	2,762,000					$	—					$	3,742,000
Construction			—						76,000						289,000						—						365,000
Other			1,273,000						430,000						1,626,000						—						3,329,000
Municipal			—						—						27,000						—						27,000
Residential
Term			237,000						153,000						634,000						—						1,024,000
Construction			—						5,000						20,000						—						25,000
Home equity line of credit			447,000						130,000						501,000						—						1,078,000
Consumer			5,000						460,000						402,000						—						867,000
Unallocated			—						—						—						1,182,000						1,182,000
			$	2,213,000					$	1,983,000					$	6,261,000					$	1,182,000					$	11,639,000

As of September 30, 2019			Specific Reserves on Loans Evaluated Individually for Impairment						General Reserves on Loans Based on Historical Loss Experience						Reserves for Qualitative Factors						Unallocated Reserves						Total Reserves
Commercial
Real estate			$	258,000					$	792,000					$	2,745,000					$	—					$	3,795,000
Construction			—						79,000						274,000						—						353,000
Other			1,275,000						436,000						1,509,000						—						3,220,000
Municipal			—						—						26,000						—						26,000
Residential
Term			337,000						185,000						615,000						—						1,137,000
Construction			—						5,000						18,000						—						23,000
Home equity line of credit			184,000						155,000						485,000						—						824,000
Consumer			6,000						285,000						389,000						—						680,000
Unallocated			—						—						—						1,707,000						1,707,000
			$	2,060,000					$	1,937,000					$	6,061,000					$	1,707,000					$	11,765,000

Summary of Risk Ratings for Loans

The following table summarizes the risk ratings for the Company's commercial real estate, commercial construction, commercial other, and municipal loans as of September 30, 2020:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	2,251,000					$	23,000					$	2,274,000
2 Above Average			8,492,000						1,627,000						5,361,000						42,262,000						57,742,000
3 Satisfactory			84,178,000						3,145,000						140,360,000						369,000						228,052,000
4 Average			230,954,000						27,907,000						107,552,000						1,456,000						367,869,000
5 Watch			68,565,000						18,919,000						46,211,000						—						133,695,000
6 OAEM			2,028,000						—						1,291,000						—						3,319,000
7 Substandard			12,911,000						440,000						6,271,000						—						19,622,000
8 Doubtful			—						—						—						—						—
Total			$	407,128,000					$	52,038,000					$	309,297,000					$	44,110,000					$	812,573,000

The following table summarizes the risk ratings for the Company's commercial real estate, commercial construction, commercial other, and municipal loans as of December 31, 2019:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	4,258,000					$	32,000					$	4,290,000
2 Above Average			12,393,000						794,000						6,187,000						38,290,000						57,664,000
3 Satisfactory			74,709,000						2,305,000						41,527,000						379,000						118,920,000
4 Average			205,510,000						19,017,000						107,389,000						2,587,000						334,503,000
5 Watch			63,582,000						15,488,000						47,152,000						—						126,222,000
6 OAEM			1,160,000						—						1,988,000						—						3,148,000
7 Substandard			15,456,000						480,000						10,272,000						—						26,208,000
8 Doubtful			—						—						—						—						—
Total			$	372,810,000					$	38,084,000					$	218,773,000					$	41,288,000					$	670,955,000

The following table summarizes the risk ratings for the Company's commercial real estate, commercial construction, commercial other, and municipal loans as of September 30, 2019:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	3,835,000					$	35,000					$	3,870,000
2 Above Average			12,595,000						34,000						5,836,000						33,768,000						52,233,000
3 Satisfactory			84,567,000						2,154,000						45,742,000						386,000						132,849,000
4 Average			186,605,000						20,931,000						85,485,000						2,333,000						295,354,000
5 Watch			67,674,000						13,867,000						48,498,000						—						130,039,000
6 OAEM			504,000						—						2,070,000						—						2,574,000
7 Substandard			16,220,000						256,000						10,393,000						—						26,869,000
8 Doubtful			—						—						—						—						—
Total			$	368,165,000					$	37,242,000					$	201,859,000					$	36,522,000					$	643,788,000

Allowance for Loan Losses Transactions

The following table presents allowance for loan losses activity by class for the nine months and quarter ended September 30, 2020, and allowance for loan loss balances by class and related loan balances by class as of September 30, 2020:

			Commercial									Municipal			Residential						Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the nine months ended September 30, 2020
Beginning balance			$	3,742,000		$	365,000		$	3,329,000		$	27,000		$	1,024,000		$	25,000		$	1,078,000		$	867,000		$	1,182,000		$	11,639,000
Charge offs			532,000			—			24,000			—			46,000			—			153,000			238,000			—			993,000
Recoveries			—			—			24,000			—			31,000			—			20,000			100,000			—			175,000
Provision (credit)			1,551,000			242,000			313,000			112,000			1,507,000			56,000			512,000			(137,000)			394,000			4,550,000
Ending balance			$	4,761,000		$	607,000		$	3,642,000		$	139,000		$	2,516,000		$	81,000		$	1,457,000		$	592,000		$	1,576,000		$	15,371,000
For the three months ended September 30, 2020
Beginning balance			$	4,511,000		$	524,000		$	3,689,000		$	110,000		$	2,261,000		$	64,000		$	1,284,000		$	658,000		$	1,009,000		$	14,110,000
Charge offs			532,000			—			7,000			—			—			—			—			37,000			—			576,000
Recoveries			—			—			4,000			—			5,000			—			1,000			27,000			—			37,000
Provision (credit)			782,000			83,000			(44,000)			29,000			250,000			17,000			172,000			(56,000)			567,000			1,800,000
Ending balance			$	4,761,000		$	607,000		$	3,642,000		$	139,000		$	2,516,000		$	81,000		$	1,457,000		$	592,000		$	1,576,000		$	15,371,000
Allowance for loan losses as of September 30, 2020
Ending balance specifically evaluated for impairment			$	135,000		$	19,000		$	128,000		$	—		$	204,000		$	—		$	403,000		$	1,000		$	—		$	890,000
Ending balance collectively evaluated for impairment			$	4,626,000		$	588,000		$	3,514,000		$	139,000		$	2,312,000		$	81,000		$	1,054,000		$	591,000		$	1,576,000		$	14,481,000
Related loan balances as of September 30, 2020
Ending balance			$	407,128,000		$	52,038,000		$	309,297,000		$	44,110,000		$	497,667,000		$	16,101,000		$	82,982,000		$	27,323,000		$	—		$	1,436,646,000
Ending balance specifically evaluated for impairment			$	4,753,000		$	1,009,000		$	1,023,000		$	—		$	10,182,000		$	—		$	2,364,000		$	10,000		$	—		$	19,341,000
Ending balance collectively evaluated for impairment			$	402,375,000		$	51,029,000		$	308,274,000		$	44,110,000		$	487,485,000		$	16,101,000		$	80,618,000		$	27,313,000		$	—		$	1,417,305,000

The following table presents allowance for loan losses activity by class for the year ended December 31, 2019 and allowance for loan loss balances by class and related loan balances by class as of December 31, 2019:

			Commercial									Municipal			Residential						Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the year ended December 31, 2019
Beginning balance			$	3,567,000		$	255,000		$	3,541,000		$	24,000		$	1,235,000		$	34,000		$	730,000		$	630,000		$	1,216,000		$	11,232,000
Charge offs			89,000			—			179,000			—			445,000			—			69,000			338,000			—			1,120,000
Recoveries			15,000			—			73,000			—			57,000			—			4,000			128,000			—			277,000
Provision (credit)			249,000			110,000			(106,000)			3,000			177,000			(9,000)			413,000			447,000			(34,000)			1,250,000
Ending balance			$	3,742,000		$	365,000		$	3,329,000		$	27,000		$	1,024,000		$	25,000		$	1,078,000		$	867,000		$	1,182,000		$	11,639,000
Allowance for loan losses as of December 31, 2019
Ending balance specifically evaluated for impairment			$	251,000		$	—		$	1,273,000		$	—		$	237,000		$	—		$	447,000		$	5,000		$	—		$	2,213,000
Ending balance collectively evaluated for impairment			$	3,491,000		$	365,000		$	2,056,000		$	27,000		$	787,000		$	25,000		$	631,000		$	862,000		$	1,182,000		$	9,426,000
Related loan balances as of December 31, 2019
Ending balance			$	372,810,000		$	38,084,000		$	218,773,000		$	41,288,000		$	492,455,000		$	14,813,000		$	92,349,000		$	26,503,000		$	—		$	1,297,075,000
Ending balance specifically evaluated for impairment			$	6,309,000		$	958,000		$	7,075,000		$	—		$	12,439,000		$	—		$	2,488,000		$	5,000		$	—		$	29,274,000
Ending balance collectively evaluated for impairment			$	366,501,000		$	37,126,000		$	211,698,000		$	41,288,000		$	480,016,000		$	14,813,000		$	89,861,000		$	26,498,000		$	—		$	1,267,801,000

The following table presents allowance for loan losses activity by class for the nine months and quarter ended September 30, 2019, and allowance for loan loss balances by class and related loan balances by class as of September 30, 2019:

			Commercial									Municipal			Residential						Home Equity Line of Credit			Consumer			Unallocated			Total
			Real Estate			Construction			Other						Term			Construction
For the nine months ended September 30, 2019
Beginning balance			$	3,567,000		$	255,000		$	3,541,000		$	24,000		$	1,235,000		$	34,000		$	730,000		$	630,000		$	1,216,000		$	11,232,000
Charge offs			53,000			—			123,000			—			93,000			—			38,000			235,000			—			542,000
Recoveries			15,000			—			70,000			—			10,000			—			3,000			102,000			—			200,000
Provision (credit)			266,000			98,000			(268,000)			2,000			(15,000)			(11,000)			129,000			183,000			491,000			875,000
Ending balance			$	3,795,000		$	353,000		$	3,220,000		$	26,000		$	1,137,000		$	23,000		$	824,000		$	680,000		$	1,707,000		$	11,765,000
For the three months ended September 30, 2019
Beginning balance			$	3,609,000		$	309,000		$	3,281,000		$	25,000		$	1,106,000		$	23,000		$	633,000		$	649,000		$	1,836,000		$	11,471,000
Charge offs			—			—			14,000			—			—			—			—			48,000			—			62,000
Recoveries			2,000			—			68,000			—			4,000			—			1,000			31,000			—			106,000
Provision (credit)			184,000			44,000			(115,000)			1,000			27,000			—			190,000			48,000			(129,000)			250,000
Ending balance			$	3,795,000		$	353,000		$	3,220,000		$	26,000		$	1,137,000		$	23,000		$	824,000		$	680,000		$	1,707,000		$	11,765,000
Allowance for loan losses as of September 30, 2019
Ending balance specifically evaluated for impairment			$	258,000		$	—		$	1,275,000		$	—		$	337,000		$	—		$	184,000		$	6,000		$	—		$	2,060,000
Ending balance collectively evaluated for impairment			$	3,537,000		$	353,000		$	1,945,000		$	26,000		$	800,000		$	23,000		$	640,000		$	674,000		$	1,707,000		$	9,705,000
Related loan balances as of September 30, 2019
Ending balance			$	368,165,000		$	37,242,000		$	201,859,000		$	36,522,000		$	485,490,000		$	14,118,000		$	94,144,000		$	25,919,000		$	—		$	1,263,459,000
Ending balance specifically evaluated for impairment			$	9,049,000		$	978,000		$	7,332,000		$	—		$	13,446,000		$	—		$	1,398,000		$	6,000		$	—		$	32,209,000
Ending balance collectively evaluated for impairment			$	359,116,000		$	36,264,000		$	194,527,000		$	36,522,000		$	472,044,000		$	14,118,000		$	92,746,000		$	25,913,000		$	—		$	1,231,250,000

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- Definition

Tabular disclosure for the roll forward of change in allowance for loan losses from period to period and related loan balances.

+ References

No definition available.

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- Definition

Tabular disclosure of allowance for credit loss on financing receivable.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 11B
-URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953423-111524

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 13
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919249-210447

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X

- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121599337&loc=SL82919230-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 29
-URI http://asc.fasb.org/extlink&oid=121611835&loc=SL6953659-111524

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