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Loans (Tables)

3 Months Ended

Mar. 31, 2024

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 March 31, 2024 and 2023 and at December 31, 2023:

			March 31, 2024									December 31, 2023									March 31, 2023
Commercial
Real estate owner occupied			$	327,496,000		15.1			%			$	314,819,000		14.8			%			$	285,224,000		14.4			%
Real estate non-owner occupied			399,658,000			18.4			%			390,167,000			18.3			%			380,922,000			19.2			%
Construction			85,817,000			3.9			%			88,673,000			4.2			%			72,705,000			3.7			%
C&I			321,855,000			14.8			%			315,026,000			14.8			%			294,885,000			14.9			%
Multifamily			101,344,000			4.7			%			93,476,000			4.4			%			81,089,000			4.1			%
Agriculture			45,064,000			2.1			%			45,230,000			2.1			%			48,338,000			2.4			%
Municipal			54,746,000			2.5			%			51,423,000			2.4			%			47,166,000			2.4			%
Residential
Term			678,093,000			31.1			%			674,855,000			31.7			%			606,849,000			30.5			%
Construction			34,824,000			1.6			%			32,358,000			1.5			%			52,712,000			2.7			%
Home Equity
Revolving and term			105,814,000			4.9			%			104,026,000			4.9			%			93,522,000			4.7			%
Consumer			19,035,000			0.9			%			19,401,000			0.9			%			19,435,000			1.0			%
Total			$	2,173,746,000		100.0			%			$	2,129,454,000		100.0			%			$	1,982,847,000		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, 2024, 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 owner occupied			$	283,000		$	164,000		$	—		$	447,000		$	327,049,000		$	327,496,000		$	—
Real estate non-owner occupied			—			—			—			—			399,658,000			399,658,000			—
Construction			—			—			—			—			85,817,000			85,817,000			—
C&I			58,000			14,000			15,000			87,000			321,768,000			321,855,000			—
Multifamily			—			—			—			—			101,344,000			101,344,000			—
Agriculture			119,000			—			—			119,000			44,945,000			45,064,000			—
Municipal			—			—			—			—			54,746,000			54,746,000			—
Residential
Term			36,000			47,000			746,000			829,000			677,264,000			678,093,000			48,000
Construction			—			—			—			—			34,824,000			34,824,000			—
Home equity
Revolving and term			363,000			—			33,000			396,000			105,418,000			105,814,000			—
Consumer			158,000			10,000			2,000			170,000			18,865,000			19,035,000			2,000
Total			$	1,017,000		$	235,000		$	796,000		$	2,048,000		$	2,171,698,000		$	2,173,746,000		$	50,000

Information on the past-due status of loans by class of financing receivable as of December 31, 2023, 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 owner occupied			$	—		$	—		$	—		$	—		$	314,819,000		$	314,819,000		$	—
Real estate non-owner occupied			—			—			—			—			393,636,000			393,636,000			—
Construction			—			9,000			8,000			17,000			88,656,000			88,673,000			—
C&I			714,000			35,000			120,000			869,000			355,918,000			356,787,000			10,000
Multifamily			—			—			—			—			93,476,000			93,476,000			—
Municipal			31,000			—			—			31,000			51,392,000			51,423,000			—
Residential
Term			254,000			818,000			728,000			1,800,000			673,055,000			674,855,000			360,000
Construction			—			—			—			—			32,358,000			32,358,000			—
Home equity
Revolving and term			495,000			95,000			26,000			616,000			103,410,000			104,026,000			—
Consumer			475,000			22,000			58,000			555,000			18,846,000			19,401,000			59,000
Total			$	1,969,000		$	979,000		$	940,000		$	3,888,000		$	2,125,566,000		$	2,129,454,000		$	429,000

Information on the past-due status of loans by class of financing receivable as of March 31, 2023, 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 owner occupied			$	—		$	1,000		$	151,000		$	152,000		$	285,072,000		$	285,224,000		$	—
Real estate non-owner occupied			—			—			—			—			384,457,000			384,457,000			—
Construction			—			—			—			—			72,705,000			72,705,000			—
C&I			106,000			12,000			182,000			300,000			339,388,000			339,688,000			34,000
Multifamily			—			—			—			—			81,089,000			81,089,000			—
Municipal			—			—			—			—			47,166,000			47,166,000			—
Residential
Term			260,000			207,000			339,000			806,000			606,043,000			606,849,000			173,000
Construction			—			—			—			—			52,712,000			52,712,000			—
Home equity
Revolving and term			498,000			6,000			64,000			568,000			92,954,000			93,522,000			—
Consumer			104,000			15,000			1,000			120,000			19,315,000			19,435,000			1,000
Total			$	968,000		$	241,000		$	737,000		$	1,946,000		$	1,980,901,000		$	1,982,847,000		$	208,000

Schedule of Nonaccrual Loans

The following table presents the amortized costs basis of loans on nonaccrual status as of March 31, 2024, December 31, 2023 and March 31, 2023:

			March 31, 2024									December 31, 2023									March 31, 2023
Dollars in thousands			Nonaccrual with Allowance for Credit Loss			Nonaccrual with no Allowance for Credit Loss			Total Nonaccrual			Nonaccrual with Allowance for Credit Loss			Nonaccrual with no Allowance for Credit Loss			Total Nonaccrual			Nonaccrual with Allowance for Credit Loss			Nonaccrual with no Allowance for Credit Loss			Total Nonaccrual
Commercial
Real estate owner occupied			$	—		$	—		$	—		$	—		$	—		$	—		$	—		$	152,000		$	152,000
Real estate non-owner occupied			—			—			—			—			—			—			—			—			—
Construction			—			20,000			20,000			—			29,000			29,000			—			23,000			23,000
C&I			346,000			48,000			394,000			354,000			184,000			538,000			530,000			118,000			648,000
Multifamily			—			—			—			—			—			—			—			—			—
Agriculture			—			33,000			33,000			—			—			—			—			—			—
Municipal			—			—			—			—			—			—			—			—			—
Residential																					—			—			—
Term			—			1,959,000			1,959,000			304,000			1,011,000			1,315,000			—			443,000			443,000
Construction			—			—			—			—			—			—			—			—			—
Home equity																					—			—			—
Revolving and term			—			304,000			304,000			—			296,000			296,000			—			534,000			534,000
Consumer			—			—			—			—			—			—			—			—			—
Total			$	346,000		$	2,364,000		$	2,710,000		$	658,000		$	1,520,000		$	2,178,000		$	530,000		$	1,270,000		$	1,800,000

Schedule of Individually Analyzed Loans by Class of Financing Receivable

The following table presents the amortized cost basis of collateral-dependent loans as of March 31, 2024 by collateral type:

						Collateral Type
						Residential Real Estate						Total
Commercial
Real estate owner occupied						$	—					$	—
Real estate non-owner occupied						—						—
Construction						—						—
C&I						—						—
Multifamily						—						—
Agriculture						—						—
Municipal						—						—
Residential
Term						950,000						950,000
Construction						—						—
Home Equity
Revolving and term						—						—
Consumer						—						—
Total						$	950,000					$	950,000

The following table presents the amortized cost basis of collateral-dependent loans as of December 31, 2023 by collateral type:

						Collateral Type
						Residential Real Estate						Total
Commercial
Real estate owner occupied						$	—					$	—
Real estate non-owner occupied						—						—
Construction						—						—
C&I						—						—
Multifamily						—						—
Municipal						—						—
Residential
Term						685,000						685,000
Construction						—						—
Home Equity
Revolving and term						—						—
Consumer						—						—
Total						$	685,000					$	685,000

For the period ended March 31, 2023, IAL include all loans that had been reported as TDR loans prior to adoption of ASU 2022-02 and loans placed on non-accrual. The following table presents the amortized cost basis of collateral-dependent loans as of March 31, 2023 by collateral type:

			Collateral Type
			Commercial Real Estate			Residential Real Estate			Equipment1			Total
Commercial
Real estate owner occupied			$	198,000		$	—		$	—		$	198,000
Real estate non-owner occupied			844,000			—			—			844,000
Construction			23,000			—			—			23,000
C&I			79,000			—			192,000			271,000
Multifamily			—			—			—			—
Municipal			—			—			—			—
Residential
Term			—			1,438,000			—			1,438,000
Construction			—			—			—			—
Home Equity
Revolving and term			—			534,000			—			534,000
Consumer			—			—			—			—
Total			$	1,144,000		$	1,972,000		$	192,000		$	3,308,000

1Collateral may consist of a boat, vehicle or other equipment.

Schedule of Troubled Debt Restructurings on Financing Receivables

The following tables represent loan modifications made to borrowers experiencing financial difficulty by modification type and class of financing receivable, during the three months ended March 31, 2024:

			Payment Deferral
			Amortized Cost Basis at March 31, 2024			% of Total Class of Financing Receivable
Commercial
Construction			$69,000			0.08%
C&I			61,000			0.02%
Multifamily			1,932,000			1.91%
Residential
Term			1,023,000			0.15%
Total			$3,085,000

			Payment Deferral & Term Extension
			Amortized Cost Basis at March 31, 2024			% of Total Class of Financing Receivable
Home Equity
Revolving and Term			$69,000			0.07%
Total			$69,000

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty for the three months ended March 31, 2024:

			Payment Deferral
			Financial Effect
Commercial
Construction			Temporary payment accommodation, payments deferred to end of loan.
C&I			Temporary payment accommodation, payments deferred to end of loan.
Multifamily			Temporary payment accommodation, payments deferred to end of loan.
Residential
Term			Temporary payment accommodation, payments deferred to end of loan.

			Payment Deferral & Term Extension
			Financial Effect
Home Equity
Revolving and Term			Temporary payment accommodation, extended term 60 days.

The following tables represent loan modifications made to borrowers experiencing financial difficulty by modification type and class of financing receivable, during the three months ended March 31, 2023:

			Term Extension
			Amortized Cost Basis at March 31, 2023			% of Total Class of Financing Receivable
C&I			$23,000			0.01%
Total			$23,000

			Payment Deferral
			Amortized Cost Basis at March 31, 2023			% of Total Class of Financing Receivable
C&I			$227,000			0.07%
Total			$227,000

The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty for the three months ended March 31, 2023:

Term Extension
			Financial Effect
C&I			Extended Term 12 months

Payment Deferral
			Financial Effect
C&I			Temporary payment accommodation, payments deferred to end of loan.

The Company monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table depicts the performance of loans that have been modified during the previous 12 months:

			Payment Status (Amortized Cost Basis)
			Current			30-59 Days Past Due			60-89 Days Past Due			90+ Days Past Due
Commercial
Real estate owner occupied			$	786,000		$	—		$	—		$	—
Construction			69,000			—			—			—
C&I			96,000			—			—			—
Multifamily			1,932,000			—			—			—
Residential
Term			1,023,000			—			—			—
Home Equity
Revolving and term			70,000			—			—			—
Consumer			34,000			—			—			—
Total			$	4,010,000		$	—		$	—		$	—

The following table depicts the performance of loans that have been modified during the three months ended March 31, 2023:

			Payment Status (Amortized Cost Basis)
			Current			30-59 Days Past Due			60-89 Days Past Due			90+ Days Past Due
Commercial
C&I			$	227,000		$	—		$	—		$	23,000
Total			$	227,000		$	—		$	—		$	23,000

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