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Allowance for Loan Losses (Tables)

12 Months Ended

Dec. 31, 2020

Receivables [Abstract]

Allowance for loan losses by class of financing receivable and allowance

The following table summarizes the composition of the allowance for loan losses, by class of financing receivable and allowance, as of December 31, 2020 and 2019:

As of December 31,			2020						2019
Allowance for Loans Evaluated Individually for Impairment
Commercial
Real estate			$	112,000					$	251,000
Construction			18,000						—
Other			169,000						1,273,000
Municipal			—						—
Residential
Term			163,000						237,000
Construction			—						—
Home equity line of credit			—						447,000
Consumer			—						5,000
Total			$	462,000					$	2,213,000
Allowance for Loans Evaluated Collectively for Impairment
Commercial
Real estate			$	5,066,000					$	3,491,000
Construction			644,000						365,000
Other			3,269,000						2,056,000
Municipal			171,000						27,000
Residential
Term			2,416,000						787,000
Construction			102,000						25,000
Home equity line of credit			1,211,000						631,000
Consumer			778,000						862,000
Unallocated			2,134,000						1,182,000
Total			$	15,791,000					$	9,426,000
Total Allowance for Loan Losses
Commercial
Real estate			$	5,178,000					$	3,742,000
Construction			662,000						365,000
Other			3,438,000						3,329,000
Municipal			171,000						27,000
Residential
Term			2,579,000						1,024,000
Construction			102,000						25,000
Home equity line of credit			1,211,000						1,078,000
Consumer			778,000						867,000
Unallocated			2,134,000						1,182,000
Total			$	16,253,000					$	11,639,000

Loan losses by loan segment and allowance element

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

As of December 31, 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			$	112,000					$	721,000					$	4,345,000					$	—					$	5,178,000
Construction			18,000						92,000						552,000						—						662,000
Other			169,000						465,000						2,804,000						—						3,438,000
Municipal			—						—						171,000						—						171,000
Residential
Term			163,000						145,000						2,271,000						—						2,579,000
Construction			—						6,000						96,000						—						102,000
Home equity line of credit			—						151,000						1,060,000						—						1,211,000
Consumer			—						282,000						496,000						—						778,000
Unallocated			—						—						—						2,134,000						2,134,000
			$	462,000					$	1,862,000					$	11,795,000					$	2,134,000					$	16,253,000

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

Summary of risk ratings for loans

The following table summarizes the risk ratings for the Company's commercial construction, commercial real estate, commercial other and municipal loans as of December 31, 2020:

			Commercial Real Estate						Commercial Construction						Commercial Other						Municipal Loans						All Risk- Rated Loans
1 Strong			$	—					$	—					$	2,402,000					$	19,000					$	2,421,000
2 Above average			5,938,000						2,343,000						6,326,000						41,939,000						56,546,000
3 Satisfactory			91,475,000						2,889,000						104,432,000						369,000						199,165,000
4 Average			261,539,000						31,221,000						120,570,000						1,456,000						414,786,000
5 Watch			72,840,000						19,893,000						44,293,000						—						137,026,000
6 OAEM			2,754,000						—						234,000						—						2,988,000
7 Substandard			7,575,000						219,000						6,758,000						—						14,552,000
8 Doubtful			—						—						—						—						—
Total			$	442,121,000					$	56,565,000					$	285,015,000					$	43,783,000					$	827,484,000

The following table summarizes the risk ratings for the Company's commercial construction, commercial real estate, 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

Allowance for loan losses transactions

The following tables present allowance for loan losses activity by class, allowance for loan loss balances by class and related loan balances by class for the years ended December 31, 2020, 2019 and 2018:

For the year ended December 31, 2020			Commercial																								Residential												Home Equity Line of Credit
			Real Estate						Construction						Other						Municipal						Term						Construction												Consumer						Unallocated						Total
Allowance for loan losses:
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
Chargeoffs			1,088,000						—						27,000						—						66,000						—						153,000						327,000						—						1,661,000
Recoveries			—						—						37,000						—						34,000						—						22,000						132,000						—						225,000
Provision			2,524,000						297,000						99,000						144,000						1,587,000						77,000						264,000						106,000						952,000						6,050,000
Ending balance			$	5,178,000					$	662,000					$	3,438,000					$	171,000					$	2,579,000					$	102,000					$	1,211,000					$	778,000					$	2,134,000					$	16,253,000
Ending balance specifically evaluated for impairment			$	112,000					$	18,000					$	169,000					$	—					$	163,000					$	—					$	—					$	—					$	—					$	462,000
Ending balance collectively evaluated for impairment			$	5,066,000					$	644,000					$	3,269,000					$	171,000					$	2,416,000					$	102,000					$	1,211,000					$	778,000					$	2,134,000					$	15,791,000
Related loan balances:
Ending balance			$	442,121,000					$	56,565,000					$	285,015,000					$	43,783,000					$	522,070,000					$	21,600,000					$	79,750,000					$	25,857,000					$	—					$	1,476,761,000
Ending balance specifically evaluated for impairment			$	3,029,000					$	770,000					$	1,779,000					$	—					$	9,414,000					$	—					$	1,039,000					$	8,000					$	—					$	16,039,000
Ending balance collectively evaluated for impairment			$	439,092,000					$	55,795,000					$	283,236,000					$	43,783,000					$	512,656,000					$	21,600,000					$	78,711,000					$	25,849,000					$	—					$	1,460,722,000

For the year ended December 31, 2019			Commercial																								Residential												Home Equity Line of Credit
			Real Estate						Construction						Other						Municipal						Term						Construction												Consumer						Unallocated						Total
Allowance for loan losses:
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
Chargeoffs			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
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:
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

For the year ended December 31, 2018			Commercial																								Residential												Home Equity Line of Credit
			Real Estate						Construction						Other						Municipal						Term						Construction												Consumer						Unallocated						Total
Allowance for loan losses:
Beginning balance			$	3,872,000					$	434,000					$	3,358,000					$	20,000					$	1,130,000					$	36,000					$	692,000					$	545,000					$	642,000					$	10,729,000
Chargeoffs			168,000						—						423,000						—						213,000						—						121,000						348,000						—						1,273,000
Recoveries			52,000						—						40,000						—						64,000						—						24,000						96,000						—						276,000
Provision (credit)			(189,000)						(179,000)						566,000						4,000						254,000						(2,000)						135,000						337,000						574,000						1,500,000
Ending 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
Ending balance specifically evaluated for impairment			$	260,000					$	—					$	1,696,000					$	—					$	335,000					$	—					$	17,000					$	—					$	—					$	2,308,000
Ending balance collectively evaluated for impairment			$	3,307,000					$	255,000					$	1,845,000					$	24,000					$	900,000					$	34,000					$	713,000					$	630,000					$	1,216,000					$	8,924,000
Related loan balances:
Ending balance			$	353,243,000					$	27,304,000					$	196,391,000					$	51,128,000					$	469,145,000					$	17,743,000					$	98,469,000					$	24,860,000					$	—					$	1,238,283,000
Ending balance specifically evaluated for impairment			$	9,760,000					$	721,000					$	9,259,000					$	—					$	10,904,000					$	—					$	1,092,000					$	15,000					$	—					$	31,751,000
Ending balance collectively evaluated for impairment			$	343,483,000					$	26,583,000					$	187,132,000					$	51,128,000					$	458,241,000					$	17,743,000					$	97,377,000					$	24,845,000					$	—					$	1,206,532,000

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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.

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Tabular disclosure for the allowance which consists of four elements: (1) specific reserves for loans evaluated individually for impairment; (2) general reserves for types or portfolios of loans based on historical loan loss experience, (3) qualitative reserves judgmentally adjusted for local and national economic conditions, and other factors as applicable; and (4) unallocated reserves.

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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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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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