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Allowance For Credit Losses On Loans (Tables)

9 Months Ended

Sep. 30, 2025

Allowance For Credit Losses On Loans [Abstract]

Changes In And Allocation Of Allowance For Loan Losses

Changes in the allowance for credit losses on loans during the periods presented were as follows:

		Three Months Ended September 30,						Nine Months Ended September 30,
(In thousands)		2025			2024			2025			2024
Balance, beginning of period		$	19,624		$	22,410		$	18,679		$	19,131
Provision for credit losses on loans			1,364			–			2,255			3,279
Charge-offs			–			(95)			–			(95)
Recoveries			37			–			91			–
Balance, end of period		$	21,025		$	22,315		$	21,025		$	22,315

Accrued interest receivable related to loans totaled $7.4 million at both September 30, 2025 and December 31, 2024 and was reported in accrued interest receivable and other assets on the consolidated balance sheets. Accrued interest receivable was excluded from the estimate of credit losses.

‎

Allocation of the allowance for credit losses on loans by portfolio segment for the three and nine months ended September 30, 2025 and 2024 are as follows:

		For the Three Months Ended September 30,
		2025
(In thousands)		Commercial and Industrial			Construction			Residential Real Estate			Commercial Real Estate			Consumer			Total
Balance, June 30, 2025		$	12,058		$	2,534		$	353		$	4,654		$	25		$	19,624
Provision for credit losses on loans (1)			959			270			25			107			3			1,364
Charge-offs			–			–			–			–			–			–
Recoveries			37			–			–			–			–			37
Balance, September 30, 2025		$	13,054		$	2,804		$	378		$	4,761		$	28		$	21,025
		2024
Balance, June 30, 2024		$	12,589		$	3,205		$	144		$	6,465		$	7		$	22,410
Provision for credit losses on loans (1)			364			44			15			(425)			2			–
Charge-offs			(95)			–			–			–			–			(95)
Recoveries			–			–			–			–			–			–
Balance, September 30, 2024		$	12,858		$	3,249		$	159		$	6,040		$	9		$	22,315
		For the Nine Months Ended September 30,
		2025
(In thousands)		Commercial and Industrial			Construction			Residential Real Estate			Commercial Real Estate			Consumer			Total
Balance, December 31, 2024		$	10,170		$	3,005		$	286		$	5,207		$	11		$	18,679
Provision for credit losses on loans (1)			2,793			(201)			92			(446)			17			2,255
Charge-offs			–			–			–			–			–			–
Recoveries			91			–			–			–			–			91
Balance, September 30, 2025		$	13,054		$	2,804		$	378		$	4,761		$	28		$	21,025
		2024
Balance, December 31, 2023		$	9,794		$	3,156		$	145		$	6,035		$	1		$	19,131
Provision for credit losses on loans (1)			3,159			93			14			5			8			3,279
Charge-offs			(95)			–			–			–			–			(95)
Recoveries			–			–			–			–			–			–
Balance, September 30, 2024		$	12,858		$	3,249		$	159		$	6,040		$	9		$	22,315
						9,794			3,156			145			6,035			1
(1) Excludes provision for unfunded commitments of ($9,000) and $0 for the three months ended September 30, 2025 and 2024, respectively, and $25,000 and $38,000 for the nine months ended September 30, 2025 and 2024, respectively.

Amortized Cost Basis Of Loans On Nonaccrual Status And Loans Past Due

‎

The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 89 days still accruing as of September 30, 2025 and December 31, 2024:

September 30, 2025

(In thousands)

Nonaccrual Loans With No Allowance for Credit Losses

Nonaccrual Loans With Allowance for Credit Losses

Total Nonaccrual Loans

Loans Past Due over 89 Days Still Accruing

Commercial and industrial

$

–

$

2,748

$

2,748

$

–

Construction

–

–

–

–

Residential Real Estate

–

–

–

–

Commercial Real Estate

–

–

–

–

Consumer

–

–

–

–

Total

$

–

$

2,748

$

2,748

$

–

December 31, 2024

(In thousands)

Nonaccrual Loans With No Allowance for Credit Losses

Nonaccrual Loans With Allowance for Credit Losses

Total Nonaccrual Loans

Loans Past Due over 89 Days Still Accruing

Commercial and industrial

$

113

$

1,234

$

1,347

$

–

Construction

–

–

–

–

Residential Real Estate

–

–

–

–

Commercial Real Estate

–

–

–

–

Consumer

–

–

–

–

Total

$

113

$

1,234

$

1,347

$

–

Risk Category And Gross Charge-Offs By Vintage Year

The following tables present the risk category and gross charge-offs by vintage year, which is the year of origination or most recent renewal, as of the date indicated. Gross charge-offs are presented for the nine months ended September 30, 2025 and the year ended December 31, 2024 in the tables below:

			Term Loans Amortized Cost Basis by Origination Year
(In thousands)			2025			2024			2023			2022			2021			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total
September 30, 2025
Commercial and industrial
Risk Rating
Pass		$	148,993		$	73,323		$	54,257		$	42,643		$	28,405		$	5,266		$	495,531		$	5,250		$	853,668
Special Mention			–			–			219			3,595			–			–			5,805			–			9,619
Substandard			–			–			5,258			90			–			–			490			–			5,838
Substandard - Nonaccrual			–			–			1,522			–			–			–			–			–			1,522
Doubtful - Nonaccrual			–			–			1,226			–			–			–			–			–			1,226
Total		$	148,993		$	73,323		$	62,482		$	46,328		$	28,405		$	5,266		$	501,826		$	5,250		$	871,873
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Construction
Risk Rating
Pass		$	32,918		$	69,283		$	52,830		$	22,908		$	5,961		$	6,942		$	–		$	–		$	190,842
Special Mention			–			–			–			3,042			16,323			–			–			–			19,365
Total		$	32,918		$	69,283		$	52,830		$	25,950		$	22,284		$	6,942		$	–		$	–		$	210,207
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Residential Real Estate
Risk Rating
Pass		$	3,336		$	2,267		$	4,348		$	669		$	–		$	2,739		$	22,927		$	–		$	36,286
Total		$	3,336		$	2,267		$	4,348		$	669		$	–		$	2,739		$	22,927		$	–		$	36,286
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Commercial Real Estate
Risk Rating
Pass		$	148,591		$	58,055		$	156,400		$	129,237		$	125,623		$	213,343		$	7,510		$	–		$	838,759
Total		$	148,591		$	58,055		$	156,400		$	129,237		$	125,623		$	213,343		$	7,510		$	–		$	838,759
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Consumer
Risk Rating
Pass		$	–		$	–		$	–		$	–		$	–		$	–		$	2,314		$	–		$	2,314
Total		$	–		$	–		$	–		$	–		$	–		$	–		$	2,314		$	–		$	2,314
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Total
Pass		$	333,838		$	202,928		$	267,835		$	195,457		$	159,989		$	228,290		$	528,282		$	5,250		$	1,921,869
Special Mention			–			–			219			6,637			16,323			–			5,805			–			28,984
Substandard			–			–			5,258			90			–			–			490			–			5,838
Substandard - Nonaccrual			–			–			1,522			–			–			–			–			–			1,522
Doubtful - Nonaccrual			–			–			1,226			–			–			–			–			–			1,226
Total		$	333,838		$	202,928		$	276,060		$	202,184		$	176,312		$	228,290		$	534,577		$	5,250		$	1,959,439

‎

		Term Loans Amortized Cost Basis by Origination Year
(In thousands)			2024			2023			2022			2021			2020			Prior			Revolving Loans Amortized Cost Basis			Revolving Loans Converted to Term			Total
December 31, 2024
Commercial and industrial
Risk Rating
Pass		$	131,267		$	95,642		$	66,474		$	74,282		$	13,715		$	6,223		$	413,781		$	–		$	801,384
Special Mention			–			5,524			4,031			318			69			–			1,950			–			11,892
Substandard			–			–			329			–			–			–			2,470			–			2,799
Substandard - Nonaccrual			–			–			–			–			–			113			–			–			113
Doubtful - Nonaccrual			–			1,234			–			–			–			–			–			–			1,234
Total		$	131,267		$	102,400		$	70,834		$	74,600		$	13,784		$	6,336		$	418,201		$	–		$	817,422
Gross charge-offs		$	4,361		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	4,361
Construction
Risk Rating
Pass		$	60,400		$	71,819		$	49,680		$	23,694		$	3,971		$	3,780		$	6,632		$	–		$	219,976
Special Mention			–			–			3,060			24,019			–			–			–			–			27,079
Total		$	60,400		$	71,819		$	52,740		$	47,713		$	3,971		$	3,780		$	6,632		$	–		$	247,055
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Residential Real Estate
Risk Rating
Pass		$	1,070		$	4,395		$	677		$	–		$	1,970		$	857		$	18,453		$	–		$	27,422
Total		$	1,070		$	4,395		$	677		$	–		$	1,970		$	857		$	18,453		$	–		$	27,422
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Commercial Real Estate
Risk Rating
Pass		$	58,681		$	163,333		$	134,121		$	143,578		$	46,213		$	203,190		$	20,723		$	–		$	769,839
Special Mention			–			–			–			–			–			1,420			2,000			–			3,420
Total		$	58,681		$	163,333		$	134,121		$	143,578		$	46,213		$	204,610		$	22,723		$	–		$	773,259
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Consumer
Risk Rating
Pass		$	–		$	–		$	–		$	–		$	–		$	–		$	957		$	–		$	957
Total		$	–		$	–		$	–		$	–		$	–		$	–		$	957		$	–		$	957
Gross charge-offs		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–		$	–
Total
Pass		$	251,418		$	335,189		$	250,952		$	241,554		$	65,869		$	214,050		$	460,546		$	–		$	1,819,578
Special Mention			–			5,524			7,091			24,337			69			1,420			3,950			–			42,391
Substandard			–			–			329			–			–			–			2,470			–			2,799
Substandard - Nonaccrual			–			–			–			–			–			113			–			–			113
Doubtful - Nonaccrual			–			1,234			–			–			–			–			–			–			1,234
Total		$	251,418		$	341,947		$	258,372		$	265,891		$	65,938		$	215,583		$	466,966		$	–		$	1,866,115

Past Due And Nonaccrual Loan

The Company monitors loans by past due status. The following tables present the aging of past due loans as of September 30, 2025 and December 31, 2024:

		September 30, 2025
(In thousands)		60-89 Days Past Due			Greater Than 89 Days and Still Accruing			Nonaccrual Loans			Total Past Due and Nonaccrual Loans			Current			Total
Commercial and industrial		$	142		$	–		$	2,748		$	2,890		$	868,983		$	871,873
Construction			–			–			–			–			210,207			210,207
Residential Real Estate			–			–			–			–			36,286			36,286
Commercial Real Estate			–			–			–			–			838,759			838,759
Consumer			–			–			–			–			2,314			2,314
Total		$	142		$	–		$	2,748		$	2,890		$	1,956,549		$	1,959,439
		December 31, 2024
(In thousands)		60-89 Days Past Due			Greater Than 89 Days and Still Accruing			Nonaccrual Loans			Total Past Due and Nonaccrual			Current			Total
Commercial and industrial		$	–		$	–		$	1,347		$	1,347		$	816,075		$	817,422
Construction			–			–			–			–			247,055			247,055
Residential Real Estate			–			–			–			–			27,422			27,422
Commercial Real Estate			–			–			–			–			773,259			773,259
Consumer			–			–			–			–			957			957
Total		$	–		$	–		$	1,347		$	1,347		$	1,864,768		$	1,866,115

Outstanding Loan Balances Of Collateral-Dependent Loans By Portfolio Segment

Collateral Type

(In thousands)

Real Property

Business Assets

Accounts Receivable

Equipment

Total

December 31, 2024

Commercial and industrial

$

113

$

–

$

–

$

–

$

113

Construction

–

–

–

–

–

Residential Real Estate

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

Consumer

–

–

–

–

–

Total

$

113

$

–

$

–

$

–

$

113

Amortized Cost Basis Of Loans Experiencing Both Financial Difficulty And Modified

(In thousands)

Term Extension

Payment Delay and/or Term Extension

Interest Rate Reduction and/or Payment Delay

Interest Rate Reduction, Payment Delay and/or Term Extension

Principal Forgiveness, Interest Rate Reduction, Payment Delay and Term Extension

Total

% of Total Class

Three Months Ended September 30, 2025

Commercial and industrial

$

–

$

5,258

$

–

$

–

$

–

$

5,258

0.60

%

Construction

–

–

–

–

–

–

–

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

–

$

5,258

$

–

$

–

$

–

$

5,258

0.27

%

Nine Months Ended September 30, 2025

Commercial and industrial

$

1,523

$

5,258

$

–

$

–

$

–

$

6,781

0.78

%

Construction

24,519

–

–

–

–

24,519

11.66

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

26,042

$

5,258

$

–

$

–

$

–

$

31,300

1.60

%

Three Months Ended September 30, 2024

Commercial and industrial

$

–

$

–

$

–

$

–

$

–

$

–

–

%

Construction

3,906

–

–

–

–

3,906

1.54

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

3,906

$

–

$

–

$

–

$

–

$

3,906

0.22

%

Nine Months Ended September 30, 2024

Commercial and industrial

$

4,326

$

4,323

$

–

$

–

$

–

$

8,649

1.09

%

Construction

15,148

–

–

–

–

15,148

5.96

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

19,474

$

4,323

$

–

$

–

$

–

$

23,797

1.33

%

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