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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

6 Months Ended

Jun. 30, 2019

Loans and Leases Receivable Disclosure [Abstract]

Composition of the loan portfolio by type

The composition of the loan portfolio, net of deferred origination fees and costs, is summarized as follows (in thousands):

		June 30,   2019				December 31,   2018
Commercial and agricultural:
Commercial and industrial		$	206,588			$	202,526
Agricultural		210				328
Commercial mortgages:
Construction		39,606				54,476
Commercial mortgages, other		608,894				606,694
Residential mortgages		183,835				182,724
Consumer loans:
Credit cards		—				1,449
Home equity lines and loans		94,465				98,145
Indirect consumer loans		138,658				149,380
Direct consumer loans		16,115				16,184
Total loans, net of deferred origination fees and costs		1,288,371				1,311,906
Interest receivable on loans		4,052				3,703
Total recorded investment in loans		$	1,292,423			$	1,315,609

Allowance for loan losses by portfolio segment

The following tables present the activity in the allowance for loan losses by portfolio segment for the three month periods ended June 30, 2019 and 2018 (in thousands):

	Three Months Ended June 30, 2019
Allowance for loan losses	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Beginning balance	$	5,429			$	9,474			$	1,215			$	3,627			$	19,745
Charge-offs	(48		)		—				(39		)		(318		)		(405		)
Recoveries	4				1				45				116				166
Net recoveries (charge-offs)	(44		)		1				6				(202		)		(239		)
Provision	91				70				8				(19		)		150
Ending balance	$	5,476			$	9,545			$	1,229			$	3,406			$	19,656

	Three Months Ended June 30, 2018
Allowance for loan losses	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Beginning balance	$	7,003			$	8,640			$	1,407			$	4,340			$	21,390
Charge-offs	(3,624		)		(145		)		(71		)		(463		)		(4,303		)
Recoveries	11				1				—				184				196
Net recoveries (charge-offs)	(3,613		)		(144		)		(71		)		(279		)		(4,107		)
Provision	1,579				244				109				430				2,362
Ending balance	$	4,969			$	8,740			$	1,445			$	4,491			$	19,645

The following tables present the activity in the allowance for loan losses by portfolio segment for the six month periods ended June 30, 2019 and 2018 (in thousands):

	Six Months Ended June 30, 2019
Allowance for loan losses	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Beginning balance:	$	5,383			$	8,184			$	1,226			$	4,151			$	18,944
Charge-offs:	(55		)		—				(41		)		(757		)		(853		)
Recoveries:	15				2				45				260				322
Net recoveries (charge-offs)	(40		)		2				4				(497		)		(531		)
Provision	133				1,359				(1		)		(248		)		1,243
Ending balance	$	5,476			$	9,545			$	1,229			$	3,406			$	19,656

	Six Months Ended June 30, 2018
Allowance for loan losses	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Beginning balance:	$	6,976			$	8,514			$	1,316			$	4,355			$	21,161
Charge-offs:	(3,644		)		(145		)		(165		)		(921		)		(4,875		)
Recoveries:	21				2				5				260				288
Net recoveries (charge-offs)	(3,623		)		(143		)		(160		)		(661		)		(4,587		)
Provision	1,616				369				289				797				3,071
Ending balance	$	4,969			$	8,740			$	1,445			$	4,491			$	19,645

Allowance for loan losses and the recorded investment in loans based on impairment method

The following tables present the balance in the allowance for loan losses and the recorded investment in loans by portfolio segment and based on impairment method as of June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
Allowance for loan losses:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	1,726			$	2,738			$	—			$	—			$	4,464
Collectively evaluated for impairment	3,750				6,807				1,229				3,406				15,192
Total ending allowance balance	$	5,476			$	9,545			$	1,229			$	3,406			$	19,656

	December 31, 2018
Allowance for loan losses:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	1,743			$	446			$	—			$	—			$	2,189
Collectively evaluated for impairment	3,640				7,738				1,226				4,151				16,755
Total ending allowance balance	$	5,383			$	8,184			$	1,226			$	4,151			$	18,944

	June 30, 2019
Loans:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Loans individually evaluated for impairment	$	2,074			$	14,056			$	385			$	160			$	16,675
Loans collectively evaluated for  impairment	205,395				636,546				183,962				249,845				1,275,748
Total ending loans balance	$	207,469			$	650,602			$	184,347			$	250,005			$	1,292,423

	December 31, 2018
Loans:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Loans individually evaluated for impairment	$	2,128			$	6,146			$	402			$	55			$	8,731
Loans collectively evaluated for  impairment	201,284				656,842				182,823				265,929				1,306,878
Total ending loans balance	$	203,412			$	662,988			$	183,225			$	265,984			$	1,315,609

Summary of impaired financing receivables

The following table presents loans individually evaluated for impairment recognized by class of loans as of June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019												December 31, 2018
With no related allowance recorded:	Unpaid Principal Balance				Recorded Investment				Allowance for Loan Losses Allocated				Unpaid Principal Balance				Recorded Investment				Allowance for Loan Losses Allocated
Commercial and agricultural:
Commercial and industrial	$	272			$	273			$	—			$	345			$	346			$	—
Commercial mortgages:
Construction	277				278				—				307				308				—
Commercial mortgages, other	3,436				3,438				—				4,007				3,935				—
Residential mortgages	413				385				—				424				402				—
Consumer loans:
Home equity lines and loans	158				160				—				54				55				—
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial	1,800				1,801				1,726				1,780				1,782				1,743
Commercial mortgages:
Commercial mortgages, other	10,423				10,340				2,738				1,902				1,903				446
Total	$	16,779			$	16,675			$	4,464			$	8,819			$	8,731			$	2,189

The following table presents the average recorded investment and interest income of loans individually evaluated for impairment recognized by class of loans for the three and six-month periods ended June 30, 2019 and 2018 (in thousands):

		Three Months Ended   June 30, 2019								Three Months Ended   June 30, 2018								Six Months Ended   June 30, 2019								Six Months Ended   June 30, 2018
With no related allowance recorded:		Average Recorded Investment				Interest Income Recognized (1)				Average Recorded Investment				Interest Income Recognized (1)				Average Recorded Investment				Interest Income Recognized (1)				Average Recorded Investment				Interest Income Recognized (1)
Commercial and agricultural:
Commercial and industrial		$	289			$	—			$	710			$	7			$	308			$	1			$	762			$	15
Commercial mortgages:
Construction		285				2				345				3				293				5				352				6
Commercial mortgages, other		3,640				3				4,290				5				3,738				6				4,240				10
Residential mortgages		388				2				421				2				393				4				423				4
Consumer loans:
Home equity lines & loans		163				1				61				1				127				1				62				2
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial		1,817				—				3,196				—				1,805				—				3,886				—
Commercial mortgages:
Commercial mortgages, other		7,741				—				2,467				1				5,795				—				2,578				3
Total		$	14,323			$	8			$	11,490			$	19			$	12,459			$	17			$	12,303			$	40

(1)Cash basis interest income approximates interest income recognized.

The following table presents the recorded investment in non-accrual and loans past due 90 days or more and still accruing by class of loans as of June 30, 2019 and December 31, 2018 (in thousands):

		Non-accrual								Loans Past Due 90 Days or More and Still Accruing
		June 30, 2019				December 31, 2018				June 30, 2019				December 31, 2018
Commercial and agricultural:
Commercial and industrial		$	2,042			$	2,048			$	57			$	10
Commercial mortgages:
Construction		94				109				—				—
Commercial mortgages, other		13,580				5,529				—				—
Residential mortgages		2,545				2,655				—				—
Consumer loans:
Credit cards		—				—				—				9
Home equity lines and loans		722				1,183				—				—
Indirect consumer loans		526				693				—				—
Direct consumer loans		7				37				—				—
Total		$	19,516			$	12,254			$	57			$	19

Recorded investment in past due and non-accrual status by class of loans

The following tables present the aging of the recorded investment in loans as of June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
	30 - 59 Days Past Due				60 - 89 Days Past Due				90 Days or More Past Due				Total Past Due				Loans Not Past Due				Total
Commercial and agricultural:
Commercial and industrial	$	1,221			$	87			$	128			$	1,436			$	205,822			$	207,258
Agricultural	—				—				—				—				211				211
Commercial mortgages:
Construction	—				—				—				—				39,734				39,734
Commercial mortgages, other	2,593				87				2,126				4,806				606,062				610,868
Residential mortgages	1,894				557				1,039				3,490				180,857				184,347
Consumer loans:
Home equity lines and loans	886				22				251				1,159				93,629				94,788
Indirect consumer loans	1,128				185				201				1,514				137,515				139,029
Direct consumer loans	89				54				—				143				16,045				16,188
Total	$	7,811			$	992			$	3,745			$	12,548			$	1,279,875			$	1,292,423

	December 31, 2018
	30 - 59 Days Past Due				60 - 89 Days Past Due				90 Days or More Past Due				Total Past Due				Loans Not Past Due				Total
Commercial and agricultural:
Commercial and industrial	$	284			$	61			$	71			$	416			$	202,667			$	203,083
Agricultural	16				—				—				16				313				329
Commercial mortgages:
Construction	—				—				—				—				54,626				54,626
Commercial mortgages, other	6,273				158				169				6,600				601,762				608,362
Residential mortgages	2,204				516				1,026				3,746				179,479				183,225
Consumer loans:
Credit cards	1				3				9				13				1,437				1,450
Home equity lines and loans	279				97				730				1,106				97,360				98,466
Indirect consumer loans	1,511				319				436				2,266				147,540				149,806
Direct consumer loans	120				53				31				204				16,058				16,262
Total	$	10,688			$	1,207			$	2,472			$	14,367			$	1,301,242			$	1,315,609

Loans by class modified as troubled debt restructurings

The following tables present loans by class modified as TDRs that occurred during the six months ended June 30, 2019 and 2018 (dollars in thousands):

June 30, 2019		Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Consumer loans:
Home equity lines and loans		1			$	137			$	137
Total		1			$	137			$	137

June 30, 2018		Number of Loans			Pre-Modification Outstanding Recorded Investment				Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Commercial and agricultural:
Commercial and industrial		1			$	100			$	100
Total		1			$	100			$	100

The TDRs described above did not increase the allowance for loan losses and resulted in no charge-offs during the six month periods ended June 30, 2019 and 2018.

Risk category of the recorded investment of loans by class of loans

Based on the analyses performed as of June 30, 2019 and December 31, 2018, the risk category of the recorded investment of loans by class of loans is as follows (in thousands):

	June 30, 2019
	Not Rated				Pass				Special Mention				Substandard				Doubtful				Total
Commercial and agricultural:
Commercial and industrial	$	—			$	195,789			$	2,641			$	7,085			$	1,743			$	207,258
Agricultural	—				211				—				—				—				211
Commercial mortgages:
Construction	—				39,640				—				94				—				39,734
Commercial mortgages	—				582,259				7,343				16,730				4,536				610,868
Residential mortgages	181,802				—				—				2,545				—				184,347
Consumer loans:
Credit cards	—				—				—				—				—				—
Home equity lines and loans	94,066				—				—				722				—				94,788
Indirect consumer loans	138,503				—				—				526				—				139,029
Direct consumer loans	16,181				—				—				7				—				16,188
Total	$	430,552			$	817,899			$	9,984			$	27,709			$	6,279			$	1,292,423

	December 31, 2018
	Not Rated				Pass				Special Mention				Substandard				Doubtful				Total
Commercial and agricultural:
Commercial and industrial	$	—			$	190,666			$	4,452			$	6,222			$	1,743			$	203,083
Agricultural	—				329				—				—				—				329
Commercial mortgages:
Construction	—				54,517				—				109				—				54,626
Commercial mortgages	—				574,221				16,830				15,948				1,363				608,362
Residential mortgages	180,570				—				—				2,655				—				183,225
Consumer loans:
Credit cards	1,450				—				—				—				—				1,450
Home equity lines and loans	97,283				—				—				1,183				—				98,466
Indirect consumer loans	149,113				—				—				693				—				149,806
Direct consumer loans	16,225				—				—				37				—				16,262
Total	$	444,641			$	819,733			$	21,282			$	26,847			$	3,106			$	1,315,609

Recorded investment in residential and consumer loans based on payment activity

The following tables present the recorded investment in residential and consumer loans based on payment activity as of June 30, 2019 and December 31, 2018 (in thousands):

	June 30, 2019
					Consumer Loans
	Residential Mortgages				Credit Card				Home Equity Lines and Loans				Indirect Consumer Loans				Other Direct Consumer Loans
Performing	$	181,802			$	—			$	94,066			$	138,503			$	16,181
Non-Performing	2,545				—				722				526				7
	$	184,347			$	—			$	94,788			$	139,029			$	16,188

	December 31, 2018
					Consumer Loans
	Residential Mortgages				Credit Card				Home Equity Lines and Loans				Indirect Consumer Loans				Other Direct Consumer Loans
Performing	$	180,570			$	1,450			$	97,283			$	149,113			$	16,225
Non-Performing	2,655				—				1,183				693				37
	$	183,225			$	1,450			$	98,466			$	149,806			$	16,262

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