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Loans (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [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 September 30, 2022 and 2021 and at December 31, 2021:

			September 30, 2022												December 31, 2021												September 30, 2021
Commercial
Real estate			$	638,708,000					34.5			%			$	576,198,000					35.0			%			$	550,077,000					34.0			%
Construction			129,036,000						6.9			%			79,365,000						4.8			%			73,302,000						4.6			%
Other			310,110,000						16.7			%			264,570,000						16.1			%			288,121,000						17.8			%
Municipal			48,702,000						2.6			%			48,362,000						2.9			%			40,616,000						2.5			%
Residential
Term			595,031,000						32.0			%			550,783,000						33.4			%			537,811,000						33.3			%
Construction			41,631,000						2.2			%			31,763,000						1.9			%			29,358,000						1.8			%
Home equity line of credit			73,938,000						4.0			%			73,632,000						4.5			%			74,594,000						4.6			%
Consumer			20,819,000						1.1			%			22,976,000						1.4			%			23,333,000						1.4			%
Total			$	1,857,975,000					100.0			%			$	1,647,649,000					100.0			%			$	1,617,212,000					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 September 30, 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			$	—					$	4,000					$	191,000					$	195,000					$	638,513,000					$	638,708,000					$	—
Construction			—						—						—						—						129,036,000						129,036,000						—
Other			172,000						16,000						83,000						271,000						309,839,000						310,110,000						—
Municipal			—						—						—						—						48,702,000						48,702,000						—
Residential
Term			79,000						77,000						166,000						322,000						594,709,000						595,031,000						—
Construction			—						—						—						—						41,631,000						41,631,000						—
Home equity line of credit			473,000						29,000						—						502,000						73,436,000						73,938,000						—
Consumer			143,000						28,000						0						171,000						20,648,000						20,819,000						—
Total			$	867,000					$	154,000					$	440,000					$	1,461,000					$	1,856,514,000					$	1,857,975,000					—

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 September 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			$	33,000					$	—					$	226,000					$	259,000					$	549,818,000					$	550,077,000					$	36,000
Construction			13,000						15,000						—						28,000						73,274,000						73,302,000						—
Other			92,000						359,000						225,000						676,000						287,445,000						288,121,000						—
Municipal			—						—						—						—						40,616,000						40,616,000						—
Residential
Term			549,000						918,000						986,000						2,453,000						535,358,000						537,811,000						190,000
Construction			—						—						—						—						29,358,000						29,358,000						—
Home equity line of credit			251,000						25,000						131,000						407,000						74,187,000						74,594,000						—
Consumer			90,000						202,000						3,000						295,000						23,038,000						23,333,000						3,000
Total			$	1,028,000					$	1,519,000					$	1,571,000					$	4,118,000					$	1,613,094,000					$	1,617,212,000					$	229,000

Schedule of Nonaccrual Loans

Information on nonaccrual loans as of September 30, 2022 and 2021 and at December 31, 2021 is presented in the following table:

			September 30, 2022						December 31, 2021						September 30, 2021
Commercial
Real estate			$	195,000					$	242,000					$	604,000
Construction			25,000						27,000						23,000
Other			756,000						1,068,000						1,251,000
Municipal			—						—						—
Residential
Term			637,000						3,808,000						3,785,000
Construction			—						—						—
Home equity line of credit			247,000						457,000						482,000
Consumer			—						—						—
Total			$	1,860,000					$	5,602,000					$	6,145,000

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 September 30, 2022 is presented in the following table:

												For the nine months ended September 30, 2022						For the quarter ended September 30, 2022
			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			$	1,295,000		$	1,607,000		$	—		$	1,497,000		$	42,000		$	1,314,000		$	14,000
Construction			25,000			27,000			—			26,000			—			25,000			—
Other			399,000			459,000			—			432,000			10,000			405,000			2,000
Municipal			—			—			—			—			—			—			—
Residential
Term			1,912,000			2,139,000			—			5,381,000			40,000			4,666,000			(9,000)
Construction			—			—			—			—			—			—			—
Home equity line of credit			247,000			279,000			—			298,000			—			249,000			—
Consumer			—			—			—			1,000			—			—			—
			$	3,878,000		$	4,511,000		$	—		$	7,635,000		$	92,000		$	6,659,000		$	7,000
With an Allowance Recorded
Commercial
Real estate			$	—		$	—		$	—		$	14,000		$	—		$	—		$	—
Construction			661,000			661,000			6,000			661,000			27,000			661,000			16,000
Other			552,000			647,000			315,000			745,000			—			679,000			—
Municipal			—			—			—			—			—			—			—
Residential
Term			1,264,000			1,267,000			99,000			1,562,000			34,000			1,384,000			9,000
Construction			—			—			—			—			—			—			—
Home equity line of credit			—			—			—			11,000			—			—			—
Consumer			—			—			—			—			—			—			—
			$	2,477,000		$	2,575,000		$	420,000		$	2,993,000		$	61,000		$	2,724,000		$	25,000
Total
Commercial
Real estate			$	1,295,000		$	1,607,000		$	—		$	1,511,000		$	42,000		$	1,314,000		$	14,000
Construction			686,000			688,000			6,000			687,000			27,000			686,000			16,000
Other			951,000			1,106,000			315,000			1,177,000			10,000			1,084,000			2,000
Municipal			—			—			—			—			—			—			—
Residential
Term			3,176,000			3,406,000			99,000			6,942,000			74,000			6,050,000			—
Construction			—			—			—			—			—			—			—
Home equity line of credit			247,000			279,000			—			310,000			—			249,000			—
Consumer			—			—			—			1,000			—			—			—
			$	6,355,000		$	7,086,000		$	420,000		$	10,628,000		$	153,000		$	9,383,000		$	32,000

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 September 30, 2021 is presented in the following table:

												For the nine months ended September 30, 2021						For the quarter ended September 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			$	1,906,000		$	2,257,000		$	—		$	2,215,000		$	50,000		$	2,053,000		$	15,000
Construction			24,000			25,000			—			69,000			—			24,000			—
Other			1,353,000			1,459,000			—			1,534,000			12,000			1,372,000			4,000
Municipal			—			—			—			—			—			—			—
Residential
Term			7,021,000			8,181,000			—			7,231,000			101,000			7,180,000			33,000
Construction			—			—			—			9,000			—			—			—
Home equity line of credit			482,000			516,000			—			725,000			—			546,000			—
Consumer			4,000			4,000			—			6,000			—			4,000			—
			$	10,790,000		$	12,442,000		$	—		$	11,789,000		$	163,000		$	11,179,000		$	52,000
With an Allowance Recorded
Commercial
Real estate			$	894,000		$	923,000		$	138,000		$	940,000		$	30,000		$	910,000		$	10,000
Construction			681,000			681,000			18,000			681,000			17,000			681,000			6,000
Other			402,000			421,000			397,000			466,000			10,000			403,000			5,000
Municipal			—			—			—			—			—			—			—
Residential
Term			1,761,000			1,923,000			129,000			1,753,000			32,000			1,641,000			9,000
Construction			—			—			—			—			—			—			—
Home equity line of credit			21,000			21,000			—			15,000			—			21,000			—
Consumer			—			—			—			1,000			—			3,000			—
			$	3,759,000		$	3,969,000		$	682,000		$	3,856,000		$	89,000		$	3,659,000		$	30,000
Total
Commercial
Real estate			$	2,800,000		$	3,180,000		$	138,000		$	3,155,000		$	80,000		$	2,963,000		$	25,000
Construction			705,000			706,000			18,000			750,000			17,000			705,000			6,000
Other			1,755,000			1,880,000			397,000			2,000,000			22,000			1,775,000			9,000
Municipal			—			—			—			—			—			—			—
Residential
Term			8,782,000			10,104,000			129,000			8,984,000			133,000			8,821,000			42,000
Construction			—			—			—			9,000			—			—			—
Home equity line of credit			503,000			537,000			—			740,000			—			567,000			—
Consumer			4,000			4,000			—			7,000			—			7,000			—
			$	14,549,000		$	16,411,000		$	682,000		$	15,645,000		$	252,000		$	14,838,000		$	82,000

Schedule of Troubled Debt Restructurings on Financing Receivables

The following table shows TDRs by class and the specific reserve as of September 30, 2022:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			6						$	1,100,000					$	—
Construction			1						661,000						6,000
Other			4						461,000						83,000
Municipal			—						—						—
Residential
Term			20						2,704,000						100,000
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			—						—						—
			31						$	4,926,000					$	189,000

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 September 30, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			10						$	2,238,000					$	138,000
Construction			1						681,000						18,000
Other			6						883,000						351,000
Municipal			—						—						—
Residential
Term			45						6,224,000						129,000
Construction			—						—						—
Home equity line of credit			1						21,000						—
Consumer			1						4,000						—
			64						$	10,051,000					$	636,000

As of September 30, 2022, one of the loans classified as TDR with a total balance of $83,000 was more than 30 days past due. This loan had not been placed on TDR status in the previous 12 months. The following table shows this TDR by class and the associated specific reserves included in the allowance for loan losses as of September 30, 2022:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			—						$	—					$	—
Construction			—						—						—
Other			1						83,000						—
Municipal			—						—						—
Residential
Term			—						—						—
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			—						—						—
			1						$	83,000					$	—

As of September 30, 2021, 12 of the loans classified as TDRs with a total balance of $1,095,000 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, 2021:

			Number of Loans						Balance						Specific Reserves
Commercial
Real estate			—						$	—					$	—
Construction			—						—
Other			5						641,000						351,000
Municipal			—						—
Residential
Term			6						450,000						—
Construction			—						—						—
Home equity line of credit			—						—						—
Consumer			1						4,000						—
			12						$	1,095,000					$	351,000

For the nine months ended September 30, 2022, 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 September 30, 2022:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			—						—						—						—
Other			—						—						—						—
Municipal			—						—						—						—
Residential
Term			1						38,000						38,000						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			1						$	38,000					$	38,000					$	—

For the nine months ended September 30, 2021, three 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, 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 quarter ended September 30, 2022, one loan was placed on TDR status. The following table shows this TDR by class and the associated specific reserves included in the allowance for loan losses as of September 30, 2022:

			Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment						Specific Reserves
Commercial
Real estate			—						$	—					$	—					$	—
Construction			—						—						—						—
Other			—						—						—						—
Municipal			—						—						—						—
Residential
Term			1						38,000						38,000						—
Construction			—						—						—						—
Home equity line of credit			—						—						—						—
Consumer			—						—						—						—
			1						$	38,000					$	38,000					$	—

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Tabular disclosure of the composition of loans contained in the loan portfolio.

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
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+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 50
-Paragraph 14
-URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919253-210447

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953401-111524

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 326
-SubTopic 20
-Section 55
-Paragraph 80
-URI https://asc.fasb.org/extlink&oid=124267575&loc=SL82922355-210448

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-Section 50
-Paragraph 7
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Tabular disclosure of financing receivable on nonaccrual status.

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Tabular disclosure of financing receivable modified as troubled debt restructuring.

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