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Loans (Tables)

3 Months Ended

Mar. 31, 2022

Loans and Leases Receivable Disclosure [Abstract]

Schedule of Composition of Loan Portfolio

The following table shows the composition of the Company's loan portfolio by class of financing receivable as of March 31, 2022 and 2021 and at December 31, 2021:

			March 31, 2022												December 31, 2021												March 31, 2021
Commercial
Real estate			$	588,301,000					34.5			%			$	576,198,000					35.0			%			$	469,974,000					31.0			%
Construction			102,982,000						6.0			%			79,365,000						4.8			%			53,394,000						3.5			%
Other			267,666,000						15.7			%			264,570,000						16.1			%			297,488,000						19.6			%
Municipal			50,867,000						3.0			%			48,362,000						2.9			%			49,476,000						3.3			%
Residential
Term			566,320,000						33.1			%			550,783,000						33.4			%			520,317,000						34.3			%
Construction			36,272,000						2.1			%			31,763,000						1.9			%			24,796,000						1.6			%
Home equity line of credit			72,863,000						4.3			%			73,632,000						4.5			%			77,210,000						5.1			%
Consumer			22,077,000						1.3			%			22,976,000						1.4			%			24,117,000						1.6			%
Total			$	1,707,348,000					100.0			%			$	1,647,649,000					100.0			%			$	1,516,772,000					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 March 31, 2022, 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			$	8,000					$	—					$	555,000					$	563,000					$	587,738,000					$	588,301,000					$	—
Construction			12,000						—						—						12,000						102,970,000						102,982,000						—
Other			165,000						—						104,000						269,000						267,397,000						267,666,000						—
Municipal			—						—						—						—						50,867,000						50,867,000						—
Residential
Term			1,394,000						—						1,037,000						2,431,000						563,889,000						566,320,000						26,000
Construction			—						—						—						—						36,272,000						36,272,000						—
Home equity line of credit			653,000						—						174,000						827,000						72,036,000						72,863,000						—
Consumer			53,000						68,000						15,000						136,000						21,941,000						22,077,000						20,000
Total			$	2,285,000					$	68,000					$	1,885,000					$	4,238,000					$	1,703,110,000					$	1,707,348,000					$	46,000

Information on the past-due status of loans by class of financing receivable as of December 31, 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			$	249,000					$	—					$	191,000					$	440,000					$	575,758,000					$	576,198,000					$	—
Construction			12,000						—						12,000						24,000						79,341,000						79,365,000						—
Other			30,000						23,000						104,000						157,000						264,413,000						264,570,000						—
Municipal			—						—						—						—						48,362,000						48,362,000						—
Residential
Term			348,000						169,000						1,780,000						2,297,000						548,486,000						550,783,000						—
Construction			—						—						—						—						31,763,000						31,763,000						—
Home equity line of credit			741,000						159,000						135,000						1,035,000						72,597,000						73,632,000						—
Consumer			168,000						192,000						32,000						392,000						22,584,000						22,976,000						32,000
Total			$	1,548,000					$	543,000					$	2,254,000					$	4,345,000					$	1,643,304,000					$	1,647,649,000					$	32,000

Information on the past-due status of loans by class of financing receivable as of March 31, 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			$	186,000					$	—					$	283,000					$	469,000					$	469,505,000					$	469,974,000					$	—
Construction			47,000						—						80,000						127,000						53,267,000						53,394,000						—
Other			696,000						11,000						628,000						1,335,000						296,153,000						297,488,000						9,000
Municipal			—						—						—						—						49,476,000						49,476,000						—
Residential
Term			1,183,000						148,000						958,000						2,289,000						518,028,000						520,317,000						71,000
Construction			111,000						—						—						111,000						24,685,000						24,796,000						—
Home equity line of credit			547,000						45,000						408,000						1,000,000						76,210,000						77,210,000						—
Consumer			284,000						2,000						5,000						291,000						23,826,000						24,117,000						5,000
Total			$	3,054,000					$	206,000					$	2,362,000					$	5,622,000					$	1,511,150,000					$	1,516,772,000					$	85,000

Schedule of Nonaccrual Loans

Information on nonaccrual loans as of March 31, 2022 and 2021 and at December 31, 2021 is presented in the following table:

			March 31, 2022						December 31, 2021						March 31, 2021
Commercial
Real estate			$	604,000					$	242,000					$	748,000
Construction			27,000						27,000						89,000
Other			1,014,000						1,068,000						1,675,000
Municipal			—						—						—
Residential
Term			3,113,000						3,808,000						3,577,000
Construction			—						—						—
Home equity line of credit			291,000						457,000						852,000
Consumer			—						—						—
Total			$	5,049,000					$	5,602,000					$	6,941,000

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 March 31, 2022 is presented in the following table:

												For the three months ended March 31, 2022
			Recorded Investment			Unpaid Principal Balance			Related Allowance			Average Recorded Investment			Recognized Interest Income
With No Related Allowance
Commercial
Real estate			$	1,733,000		$	2,039,000		$	—		$	1,577,000		$	13,000
Construction			27,000			28,000			—			27,000			—
Other			452,000			503,000			—			458,000			4,000
Municipal			—			—			—			—			—
Residential
Term			5,637,000			6,741,000			—			5,793,000			23,000
Construction			—			—			—			—			—
Home equity line of credit			191,000			217,000			—			320,000			—
Consumer			1,000			1,000			—			2,000			—
			$	8,041,000		$	9,529,000		$	—		$	8,177,000		$	40,000
With an Allowance Recorded
Commercial
Real estate			$	42,000		$	71,000		$	42,000		$	42,000		—
Construction			661,000			661,000			13,000			661,000			6,000
Other			781,000			865,000			532,000			794,000			—
Municipal			—			—			—			—			—
Residential
Term			1,629,000			1,674,000			118,000			1,735,000			12,000
Construction			—			—			—			—			—
Home equity line of credit			100,000			100,000			7,000			33,000			—
Consumer			—			—			—			—			—
			$	3,213,000		$	3,371,000		$	712,000		$	3,265,000		$	18,000
Total
Commercial
Real estate			$	1,775,000		$	2,110,000		$	42,000		$	1,619,000		$	13,000
Construction			688,000			689,000			13,000			688,000			6,000
Other			1,233,000			1,368,000			532,000			1,252,000			4,000
Municipal			—			—			—			—			—
Residential
Term			7,266,000			8,415,000			118,000			7,528,000			35,000
Construction			—			—			—			—			—
Home equity line of credit			291,000			317,000			7,000			353,000			—
Consumer			1,000			1,000			—			2,000			—
			$	11,254,000		$	12,900,000		$	712,000		$	11,442,000		$	58,000

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, 2021 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			$	1,386,000					$	1,689,000					$	—					$	1,590,000					$	63,000
Construction			28,000						28,000						—						22,000						—
Other			917,000						1,009,000						—						1,051,000						15,000
Municipal			—						—						—						—						—
Residential
Term			6,178,000						7,238,000						—						6,429,000						87,000
Construction			—						—						—						—						—
Home equity line of credit			457,000						487,000						—						461,000						—
Consumer			2,000						2,000						—						—						1,000
			$	8,968,000					$	10,453,000					$	—					$	9,553,000					$	166,000
With an Allowance Recorded
Commercial
Real estate			$	42,000					$	71,000					$	42,000					$	614,000					—
Construction			661,000						661,000						16,000						661,000						22,000
Other			386,000						411,000						381,000						396,000						—
Municipal			—						—						—						—						—
Residential
Term			1,995,000						2,164,000						137,000						1,897,000						54,000
Construction			—						—						—						—						—
Home equity line of credit			—						—						—						—						—
Consumer			—						—						—						—						—
			$	3,084,000					$	3,307,000					$	576,000					$	3,568,000					$	76,000
Total
Commercial
Real estate			$	1,428,000					$	1,760,000					$	42,000					$	2,204,000					$	63,000
Construction			689,000						689,000						16,000						683,000						22,000
Other			1,303,000						1,420,000						381,000						1,447,000						15,000
Municipal			—						—						—						—						—
Residential
Term			8,173,000						9,402,000						137,000						8,326,000						141,000
Construction			—						—						—						—						—
Home equity line of credit			457,000						487,000						—						461,000						—
Consumer			2,000						2,000						—						—						1,000
			$	12,052,000					$	13,760,000					$	576,000					$	13,121,000					$	242,000

A breakdown of impaired loans by class of financing receivable as of and for the period ended March 31, 2021 is presented in the following table:

												For the three months ended March 31, 2021
			Recorded Investment			Unpaid Principal Balance			Related Allowance			Average Recorded Investment			Recognized Interest Income
With No Related Allowance
Commercial
Real estate			$	2,223,000		$	2,550,000		$	—		$	2,179,000		$	17,000
Construction			89,000			89,000			—			89,000			—
Other			1,593,000			1,650,000			—			1,654,000			5,000
Municipal			—			—			—			—			—
Residential
Term			7,183,000			8,416,000			—			7,184,000			35,000
Construction			—			—			—			—			—
Home equity line of credit			852,000			928,000			—			872,000			—
Consumer			7,000			7,000			—			7,000			—
			$	11,947,000		$	13,640,000		$	—		$	11,985,000		$	57,000
With an Allowance Recorded
Commercial
Real estate			$	978,000		$	1,013,000		$	174,000		$	968,000		$	9,000
Construction			681,000			681,000			21,000			681,000			6,000
Other			627,000			643,000			563,000			525,000			—
Municipal			—			—			—			—			—
Residential
Term			2,084,000			2,113,000			142,000			1,957,000			16,000
Construction			—			—			—			—			—
Home equity line of credit			23,000			23,000			—			8,000			—
Consumer			—			—			—			—			—
			$	4,393,000		$	4,473,000		$	900,000		$	4,139,000		$	31,000
Total
Commercial
Real estate			$	3,201,000		$	3,563,000		$	174,000		$	3,147,000		$	26,000
Construction			770,000			770,000			21,000			770,000			6,000
Other			2,220,000			2,293,000			563,000			2,179,000			5,000
Municipal			—			—			—			—			—
Residential
Term			9,267,000			10,529,000			142,000			9,141,000			51,000
Construction			—			—			—			—			—
Home equity line of credit			875,000			951,000			—			880,000			—
Consumer			7,000			7,000			—			7,000			—
			$	16,340,000		$	18,113,000		$	900,000		$	16,124,000		$	88,000

Schedule of Troubled Debt Restructurings on Financing Receivables

The following table shows TDRs by class and the specific reserve as of March 31, 2022:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			8						$	1,212,000					$	42,000
Construction			1						661,000						13,000
Other			5						735,000						326,000
Municipal			—						—						—
Residential
Term			41						5,181,000						118,000
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			1						1,000						—
			56						$	7,790,000					$	499,000

The following table shows TDRs by class and the specific reserve as of December 31, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			8						$	1,227,000					$	42,000
Construction			1						661,000						16,000
Other			5						765,000						337,000
Municipal			—						—						—
Residential
Term			45						5,686,000						137,000
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			1						2,000						—
			60						$	8,341,000					$	532,000

The following table shows TDRs by class and the specific reserve as of March 31, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			13						$	2,525,000					$	174,000
Construction			1						681,000						21,000
Other			7						964,000						358,000
Municipal			—						—						—
Residential
Term			49						6,947,000						142,000
Construction			—						—						—
Home equity line of credit			2						182,000						—
Consumer			1						7,000						—
			73						$	11,306,000					$	695,000

As of March 31, 2022, five of the loans classified as TDRs with a total balance of $380,000 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, 2022:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			—						$	—					$	—
Construction			—						—						—
Other			2						190,000						—
Municipal			—						—						—
Residential
Term			3						190,000						—
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			—						—						—
			5						$	380,000					$	—

As of March 31, 2021, 11 of the loans classified as TDRs with a total balance of $1,017,000 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 March 31, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			2						$	72,000					$	72,000
Construction			—						—
Other			4						419,000						92,000
Municipal			—						—
Residential
Term			4						366,000						—
Construction			—						—						—
Home equity line of credit			1						160,000						—
Consumer			—						—						—
			11						$	1,017,000					$	164,000

For the three months ended March 31, 2022, no loans were placed on TDR status.

For the three months ended March 31, 2021, one loan was placed on TDR status. The following table shows this TDR by class and associated specific reserves included in the allowance for loan losses as of March 31, 2021:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			—						—						—						—
Other			1						262,000						262,000						262,000
Municipal			—						—						—						—
Residential
Term			—						—						—						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			1						$	262,000					$	262,000					$	262,000

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