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Loans (Tables)

6 Months Ended

Jun. 30, 2021

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Composition of Loan Portfolio

The following table shows the composition of the Company's loan portfolio as of June 30, 2021 and 2020 and at December 31, 2020:

			June 30, 2021												December 31, 2020												June 30, 2020
Commercial
Real estate			$	527,415,000					33.2			%			$	442,121,000					29.9			%			$	397,155,000					27.4			%
Construction			65,794,000						4.1			%			56,565,000						3.8			%			47,169,000						3.2			%
Other			298,747,000						18.8			%			285,015,000						19.3			%			327,967,000						22.6			%
Municipal			41,079,000						2.6			%			43,783,000						3.0			%			49,644,000						3.4			%
Residential
Term			523,344,000						33.0			%			522,070,000						35.3			%			499,693,000						34.4			%
Construction			29,818,000						1.9			%			21,600,000						1.5			%			14,707,000						1.1			%
Home equity line of credit			77,709,000						4.9			%			79,750,000						5.4			%			87,019,000						6.0			%
Consumer			24,358,000						1.5			%			25,857,000						1.8			%			28,269,000						1.9			%
Total			$	1,588,264,000					100.0			%			$	1,476,761,000					100.0			%			$	1,451,623,000					100.0			%

Schedule of 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 June 30, 2021, 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			$	75,000					$	—					$	191,000					$	266,000					$	527,149,000					$	527,415,000					$	—
Construction			13,000						—						16,000						29,000						65,765,000						65,794,000						—
Other			62,000						—						821,000						883,000						297,864,000						298,747,000						—
Municipal			—						—						—						—						41,079,000						41,079,000						—
Residential
Term			134,000						773,000						715,000						1,622,000						521,722,000						523,344,000						—
Construction			—						—						—						—						29,818,000						29,818,000						—
Home equity line of credit			43,000						—						246,000						289,000						77,420,000						77,709,000						17,000
Consumer			140,000						104,000						87,000						331,000						24,027,000						24,358,000						87,000
Total			$	467,000					$	877,000					$	2,076,000					$	3,420,000					$	1,584,844,000					$	1,588,264,000					$	104,000

Information on the past-due status of loans by class of financing receivable as of December 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			$	139,000					$	190,000					$	226,000					$	555,000					$	441,566,000					$	442,121,000					$	—
Construction			13,000						—						80,000						93,000						56,472,000						56,565,000						—
Other			490,000						62,000						2,082,000						2,634,000						282,381,000						285,015,000						1,464,000
Municipal			—						—						—						—						43,783,000						43,783,000						—
Residential
Term			540,000						1,799,000						1,616,000						3,955,000						518,115,000						522,070,000						23,000
Construction			—						—						—						—						21,600,000						21,600,000						—
Home equity line of credit			1,645,000						324,000						367,000						2,336,000						77,414,000						79,750,000						—
Consumer			89,000						42,000						18,000						149,000						25,708,000						25,857,000						18,000
Total			$	2,916,000					$	2,417,000					$	4,389,000					$	9,722,000					$	1,467,039,000					$	1,476,761,000					$	1,505,000

Information on the past-due status of loans by class of financing receivable as of June 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			$	134,000					$	76,000					$	1,048,000					$	1,258,000					$	395,897,000					$	397,155,000					$	—
Construction			—						—						—						—						47,169,000						47,169,000						—
Other			172,000						11,000						1,741,000						1,924,000						326,043,000						327,967,000						1,464,000
Municipal			—						—						—						—						49,644,000						49,644,000						—
Residential
Term			270,000						1,413,000						1,850,000						3,533,000						496,160,000						499,693,000						—
Construction			—						—						—						—						14,707,000						14,707,000						—
Home equity line of credit			896,000						145,000						1,540,000						2,581,000						84,438,000						87,019,000						—
Consumer			146,000						106,000						9,000						261,000						28,008,000						28,269,000						4,000
Total			$	1,618,000					$	1,751,000					$	6,188,000					$	9,557,000					$	1,442,066,000					$	1,451,623,000					$	1,468,000

Schedule of Modification Statuses by Portfolio Segment

Modification statuses by portfolio segment are summarized below:

Commercial/Municipal Loan Modifications
			Units			Percentage			Balance			Percentage
Paid Off			121			20		%	$	19,750,000		8		%
Subsequent Modification			13			2		%	7,800,000			3		%
Still in Original Modification			2			—		%	228,000			—		%
Out of Modification			469			78		%	209,919,000			89		%
Total			605			100		%	$	237,697,000		100		%
Residential Real Estate Modifications
			Units			Percentage			Balance			Percentage
Paid Off			57			15		%	$	10,535,000		20		%
Subsequent Modification			115			30		%	13,320,000			25		%
Still in Original Modification			6			2		%	574,000			1		%
Out of Modification			198			53		%	28,483,000			54		%
Total			376			100		%	$	52,912,000		100		%

Consumer Loan Modifications
			Units			Percentage			Balance			Percentage
Paid Off			21			30		%	$	179,000		17		%
Subsequent Modification			2			3		%	43,000			4		%
Out of Modification			46			67		%	837,000			79		%
Total			69			100		%	$	1,059,000		100		%

Schedule of Nonaccrual Loans

Information on nonaccrual loans as of June 30, 2021 and 2020 and at December 31, 2020 is presented in the following table:

			June 30, 2021						December 31, 2020						June 30, 2020
Commercial
Real estate			$	1,029,000					$	543,000					$	1,245,000
Construction			105,000						89,000						232,000
Other			1,452,000						1,481,000						323,000
Municipal			—						—						—
Residential
Term			3,820,000						3,593,000						4,685,000
Construction			—						—						—
Home equity line of credit			575,000						1,015,000						1,854,000
Consumer			—						—						5,000
Total			$	6,981,000					$	6,721,000					$	8,344,000

Schedule of Impaired Loans by Class of Financing Receivable

A breakdown of impaired loans by class of financing receivable as of and for the period ended June 30, 2021 is presented in the following table:

																					For the six months ended June 30, 2021												For the quarter ended June 30, 2021
			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			$	2,145,000					$	2,490,000					$	—					$	2,295,000					$	35,000					$	2,412,000					$	18,000
Construction			106,000						106,000						—						92,000						—						94,000						—
Other			1,567,000						1,638,000						—						1,615,000						8,000						1,575,000						3,000
Municipal			—						—						—						—						—						—						—
Residential
Term			7,506,000						8,770,000						—						7,256,000						68,000						7,329,000						33,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			574,000						607,000						—						815,000						—						756,000						—
Consumer			6,000						6,000						—						7,000						—						—						—
			$	11,904,000					$	13,617,000					$	—					$	12,080,000					$	111,000					$	12,166,000					$	54,000
With an Allowance Recorded
Commercial
Real estate			$	929,000					$	956,000					$	167,000					$	954,000					$	20,000					$	939,000					$	11,000
Construction			681,000						681,000						19,000						681,000						11,000						681,000						5,000
Other			422,000						439,000						403,000						498,000						5,000						471,000						5,000
Municipal			—						—						—						—						—						—						—
Residential
Term			1,620,000						1,662,000						118,000						1,810,000						23,000						1,662,000						7,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			22,000						22,000						—						11,000						—						15,000						—
Consumer			—						—						—						—						—						—						—
			$	3,674,000					$	3,760,000					$	707,000					$	3,954,000					$	59,000					$	3,768,000					$	28,000
Total
Commercial
Real estate			$	3,074,000					$	3,446,000					$	167,000					$	3,249,000					$	55,000					$	3,351,000					$	29,000
Construction			787,000						787,000						19,000						773,000						11,000						775,000						5,000
Other			1,989,000						2,077,000						403,000						2,113,000						13,000						2,046,000						8,000
Municipal			—						—						—						—						—						—						—
Residential
Term			9,126,000						10,432,000						118,000						9,066,000						91,000						8,991,000						40,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			596,000						629,000						—						826,000						—						771,000						—
Consumer			6,000						6,000						—						7,000						—						—						—
			$	15,578,000					$	17,377,000					$	707,000					$	16,034,000					$	170,000					$	15,934,000					$	82,000

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, 2020 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			$	2,060,000					$	2,368,000					$	—					$	4,123,000					$	127,000
Construction			89,000						89,000						—						358,000						—
Other			1,591,000						1,623,000						—						999,000						15,000
Municipal			—						—						—						—						—
Residential
Term			7,335,000						8,629,000						—						8,773,000						193,000
Construction			—						—						—						—						—
Home equity line of credit			1,015,000						1,089,000						—						1,219,000						—
Consumer			8,000						8,000						—						1,000						1,000
			$	12,098,000					$	13,806,000					$	—					$	15,473,000					$	336,000
With an Allowance Recorded
Commercial
Real estate			$	969,000					$	995,000					$	112,000					$	1,018,000					$	43,000
Construction			681,000						681,000						18,000						579,000						30,000
Other			188,000						202,000						169,000						1,193,000						3,000
Municipal			—						—						—						—						—
Residential
Term			2,079,000						2,134,000						163,000						2,073,000						65,000
Construction			—						—						—						—						—
Home equity line of credit			24,000						24,000						—						744,000						1,000
Consumer			—						—						—						8,000						—
			$	3,941,000					$	4,036,000					$	462,000					$	5,615,000					$	142,000
Total
Commercial
Real estate			$	3,029,000					$	3,363,000					$	112,000					$	5,141,000					$	170,000
Construction			770,000						770,000						18,000						937,000						30,000
Other			1,779,000						1,825,000						169,000						2,192,000						18,000
Municipal			—						—						—						—						—
Residential
Term			9,414,000						10,763,000						163,000						10,846,000						258,000
Construction			—						—						—						—						—
Home equity line of credit			1,039,000						1,113,000						—						1,963,000						1,000
Consumer			8,000						8,000						—						9,000						1,000
			$	16,039,000					$	17,842,000					$	462,000					$	21,088,000					$	478,000

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

																					For the six months ended June 30, 2020												For the quarter ended June 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			$	4,757,000					$	5,013,000					$	—					$	4,975,000					$	84,000					$	4,794,000					$	37,000
Construction			233,000						257,000						—						475,000						—						234,000						—
Other			713,000						737,000						—						787,000						13,000						781,000						10,000
Municipal			—						—						—						—						—						—						—
Residential
Term			8,293,000						9,620,000						—						9,746,000						92,000						9,478,000						25,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			1,299,000						1,362,000						—						1,207,000						8,000						1,228,000						4,000
Consumer			—						—						—						—						—						—						—
			$	15,295,000					$	16,989,000					$	—					$	17,190,000					$	197,000					$	16,515,000					$	76,000
With an Allowance Recorded
Commercial
Real estate			$	992,000					$	1,015,000					$	199,000					$	1,034,000					$	21,000					$	1,004,000					$	13,000
Construction			701,000						701,000						20,000						468,000						17,000						701,000						7,000
Other			140,000						159,000						132,000						2,213,000						—						157,000						—
Municipal			—						—						—						—						—						—						—
Residential
Term			2,018,000						2,047,000						269,000						1,900,000						36,000						1,800,000						23,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			862,000						862,000						292,000						1,038,000						—						951,000						—
Consumer			5,000						5,000						5,000						15,000						—						5,000						—
			$	4,718,000					$	4,789,000					$	917,000					$	6,668,000					$	74,000					$	4,618,000					$	43,000
Total
Commercial
Real estate			$	5,749,000					$	6,028,000					$	199,000					$	6,009,000					$	105,000					$	5,798,000					$	50,000
Construction			934,000						958,000						20,000						943,000						17,000						935,000						7,000
Other			853,000						896,000						132,000						3,000,000						13,000						938,000						10,000
Municipal			—						—						—						—						—						—						—
Residential
Term			10,311,000						11,667,000						269,000						11,646,000						128,000						11,278,000						48,000
Construction			—						—						—						—						—						—						—
Home equity line of credit			2,161,000						2,224,000						292,000						2,245,000						8,000						2,179,000						4,000
Consumer			5,000						5,000						5,000						15,000						—						5,000						—
			$	20,013,000					$	21,778,000					$	917,000					$	23,858,000					$	271,000					$	21,133,000					$	119,000

Schedule of Troubled Debt Restructurings on Financing Receivables

The following table shows TDRs by class and the specific reserve as of June 30, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			13						$	2,490,000					$	166,000
Construction			2						762,000						19,000
Other			7						956,000						357,000
Municipal			—						—						—
Residential
Term			48						6,546,000						118,000
Construction			—						—						—
Home equity line of credit			1						22,000						—
Consumer			1						6,000						—
			72						$	10,782,000					$	660,000

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

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			13						$	2,558,000					$	106,000
Construction			1						681,000						18,000
Other			6						717,000						96,000
Municipal			—						—						—
Residential
Term			51						7,384,000						149,000
Construction			—						—						—
Home equity line of credit			2						186,000						—
Consumer			1						8,000						—
			74						$	11,534,000					$	369,000

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

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			16						$	4,585,000					$	194,000
Construction			1						701,000						20,000
Other			7						777,000						131,000
Municipal			—						—						—
Residential
Term			51						7,477,000						198,000
Construction			—						—						—
Home equity line of credit			3						473,000						—
Consumer			—						—						—
			78						$	14,013,000					$	543,000

As of June 30, 2021, 11 of the loans classified as TDRs with a total balance of $737,000 were more than 30 days past due. Of these loans, none 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 June 30, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			1						$	25,000					$	25,000
Construction			—						—						—
Other			4						419,000						92,000
Municipal			—						—						—
Residential
Term			5						287,000						—
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			1						6,000						—
			11						$	737,000					$	117,000

As of June 30, 2020, 11 of the loans classified as TDRs with a total balance of $1,479,000 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 June 30, 2020:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			—						$	—					$	—
Construction			—						—
Other			3						247,000						131,000
Municipal			—						—
Residential
Term			7						1,066,000						—
Construction			—						—						—
Home equity line of credit			1						166,000						—
Consumer			—						—						—
			11						$	1,479,000					$	131,000

For the six months ended June 30, 2021, three loans were placed on TDR status. The following table shows this TDR, by class and the associated specific reserve included in the allowance for loan losses as of June 30, 2021:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			1						80,000						80,000						—
Other			1						261,000						261,000						261,000
Municipal			—						—						—						—
Residential
Term			1						9,000						4,000						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			3						$	350,000					$	345,000					$	261,000

For the six months ended June 30, 2020, two 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 June 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						188,000						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			2						$	235,000					$	188,000					$	—

For the quarter ended June 30, 2021, 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 June 30, 2021:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			1						80,000						80,000						—
Other			—						—						—						—
Municipal			—						—						—						—
Residential
Term			1						9,000						4,000						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			2						$	89,000					$	84,000					$	—

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Financing Receivable, Modification Statuses

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No definition available.

+ Details

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