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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2020

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):

		March 31,   2020				December 31,   2019
Commercial and agricultural:
Commercial and industrial		$	235,690			$	230,018
Agricultural		289				274
Commercial mortgages:
Construction		40,957				43,962
Commercial mortgages, other		618,831				604,832
Residential mortgages		192,722				188,338
Consumer loans:
Credit cards		—				—
Home equity lines and loans		88,149				91,784
Indirect consumer loans		129,473				134,973
Direct consumer loans		14,350				15,038
Total loans, net of deferred origination fees and costs		1,320,461				1,309,219
Interest receivable on loans		3,759				3,684
Total recorded investment in loans		$	1,324,220			$	1,312,903

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 March 31, 2020 and 2019 (in thousands):

	Three Months Ended March 31, 2020
Allowance for loan losses	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Beginning balance	$	10,227			$	8,869			$	1,252			$	3,130			$	23,478
Charge-offs	(30		)		—				—				(403		)		(433		)
Recoveries	4				1				—				135				140
Net recoveries (charge-offs)	(26		)		—				—				(268		)		(294		)
Provision	990				1,603				169				288				3,050
Ending balance	$	11,191			$	10,472			$	1,421			$	3,149			$	26,233

	Three Months Ended March 31, 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	(7		)		—				(2		)		(439		)		(448		)
Recoveries	11				1				—				144				156
Net recoveries (charge-offs)	4				1				(2		)		(295		)		(292		)
Provision	42				1,289				(9		)		(229		)		1,093
Ending balance	$	5,429			$	9,474			$	1,215			$	3,627			$	19,745

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 March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
Allowance for loan losses:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Ending allowance balance attributable to loans:
Individually evaluated for impairment	$	5,851			$	2,058			$	—			$	—			$	7,909
Collectively evaluated for impairment	5,340				8,414				1,421				3,149				18,324
Total ending allowance balance	$	11,191			$	10,472			$	1,421			$	3,149			$	26,233

	December 31, 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	$	6,000			$	2,097			$	—			$	—			$	8,097
Collectively evaluated for impairment	4,227				6,772				1,252				3,130				15,381
Total ending allowance balance	$	10,227			$	8,869			$	1,252			$	3,130			$	23,478

	March 31, 2020
Loans:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Loans individually evaluated for impairment	$	5,952			$	8,478			$	518			$	149			$	15,097
Loans collectively evaluated for  impairment	230,698				653,183				192,751				232,491				1,309,123
Total ending loans balance	$	236,650			$	661,661			$	193,269			$	232,640			$	1,324,220

	December 31, 2019
Loans:	Commercial and Agricultural				Commercial Mortgages				Residential Mortgages				Consumer Loans				Total
Loans individually evaluated for impairment	$	6,147			$	8,844			$	525			$	149			$	15,665
Loans collectively evaluated for  impairment	224,775				641,726				188,349				242,388				1,297,238
Total ending loans balance	$	230,922			$	650,570			$	188,874			$	242,537			$	1,312,903

Summary of impaired financing receivables

The following table presents loans individually evaluated for impairment recognized by class of loans as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020												December 31, 2019
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	$	105			$	106			$	—			$	133			$	133			$	—
Commercial mortgages:
Construction	231				232				—				247				247				—
Commercial mortgages, other	3,219				3,220				—				3,501				3,503				—
Residential mortgages	547				518				—				554				525				—
Consumer loans:
Home equity lines and loans	171				149				—				171				149				—
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial	5,845				5,846				5,851				6,013				6,014				6,000
Commercial mortgages:
Commercial mortgages, other	5,025				5,026				2,058				5,093				5,094				2,097
Total	$	15,143			$	15,097			$	7,909			$	15,712			$	15,665			$	8,097

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-month periods ended March 31, 2020 and 2019 (in thousands):

		Three Months Ended   March 31, 2020								Three Months Ended   March 31, 2019
With no related allowance recorded:		Average Recorded Investment				Interest Income Recognized (1)				Average Recorded Investment				Interest Income Recognized (1)
Commercial and agricultural:
Commercial and industrial		$	120			$	—			$	325			$	1
Commercial mortgages:
Construction		239				2				301				2
Commercial mortgages, other		3,362				—				3,889				5
Residential mortgages		521				5				397				2
Consumer loans:
Home equity lines & loans		149				2				111				1
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial		5,930				—				1,807				—
Commercial mortgages:
Commercial mortgages, other		5,060				—				3,523				—
Total		$	15,381			$	9			$	10,353			$	11

(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 March 31, 2020 and December 31, 2019 (in thousands):

		Non-accrual								Loans Past Due 90 Days or More and Still Accruing
		March 31, 2020				December 31, 2019				March 31, 2020				December 31, 2019
Commercial and agricultural:
Commercial and industrial		$	5,951			$	6,147			$	8			$	7
Commercial mortgages:
Construction		73				80				—				—
Commercial mortgages, other		8,247				8,407				—				—
Residential mortgages		2,265				2,155				—				—
Consumer loans:
Credit cards		—				—				—				—
Home equity lines and loans		638				641				—				—
Indirect consumer loans		767				571				—				—
Direct consumer loans		7				7				—				—
Total		$	17,948			$	18,008			$	8			$	7

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 March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
	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	$	347			$	1,373			$	4,264			$	5,984			$	230,376			$	236,360
Agricultural	—				—				—				—				290				290
Commercial mortgages:
Construction	—				—				—				—				41,073				41,073
Commercial mortgages, other	2,385				1,211				2,297				5,893				614,695				620,588
Residential mortgages	1,432				286				1,131				2,849				190,420				193,269
Consumer loans:
Home equity lines and loans	368				174				95				637				87,784				88,421
Indirect consumer loans	1,050				216				376				1,642				128,167				129,809
Direct consumer loans	33				21				6				60				14,350				14,410
Total	$	5,615			$	3,281			$	8,169			$	17,065			$	1,307,155			$	1,324,220

	December 31, 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	$	1,285			$	49			$	4,398			$	5,732			$	224,916			$	230,648
Agricultural	—				—				—				—				274				274
Commercial mortgages:
Construction	—				—				—				—				44,082				44,082
Commercial mortgages, other	440				277				2,165				2,883				603,605				606,488
Residential mortgages	1,016				804				956				2,775				186,099				188,874
Consumer loans:
Credit cards	—				—				—				—				—				—
Home equity lines and loans	353				151				149				653				91,412				92,065
Indirect consumer loans	1,546				377				355				2,278				133,088				135,366
Direct consumer loans	32				10				6				49				15,057				15,106
Total	$	4,672			$	1,668			$	8,029			$	14,370			$	1,298,533			$	1,312,903

Loans by class modified as troubled debt restructurings

The following table present loans by class modified as TDRs that occurred during the three months ended March 31, 2019 (dollars in thousands):

March 31, 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

The TDRs described above did not increase the allowance for loan losses and resulted in no charge-offs during the three-month period ended March 31, 2019.

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

Based on the analyses performed as of March 31, 2020 and December 31, 2019, the risk category of the recorded investment of loans by class of loans is as follows (in thousands):

	March 31, 2020
	Not Rated				Pass				Special Mention				Substandard				Doubtful				Total
Commercial and agricultural:
Commercial and industrial	$	—			$	214,801			$	5,852			$	9,926			$	5,781			$	236,360
Agricultural	—				290				—				—				—				290
Commercial mortgages:
Construction	—				37,123				398				3,552				—				41,073
Commercial mortgages	—				593,742				11,483				11,008				4,355				620,588
Residential mortgages	191,004				—				—				2,265				—				193,269
Consumer loans:
Home equity lines and loans	87,783				—				—				638				—				88,421
Indirect consumer loans	129,042				—				—				767				—				129,809
Direct consumer loans	14,403				—				—				7				—				14,410
Total	$	422,232			$	845,956			$	17,733			$	28,163			$	10,136			$	1,324,220

	December 31, 2019
	Not Rated				Pass				Special Mention				Substandard				Doubtful				Total
Commercial and agricultural:
Commercial and industrial	$	—			$	208,552			$	5,915			$	10,361			$	5,820			$	230,648
Agricultural	—				274				—				—				—				274
Commercial mortgages:
Construction	—				40,304				168				3,610				—				44,082
Commercial mortgages	—				577,266				12,451				12,356				4,415				606,488
Residential mortgages	186,719				—				—				2,155				—				188,874
Consumer loans:
Credit cards	—				—				—				—				—				—
Home equity lines and loans	91,424				—				—				641				—				92,065
Indirect consumer loans	134,795				—				—				571				—				135,366
Direct consumer loans	15,099				—				—				7				—				15,106
Total	$	428,037			$	826,396			$	18,534			$	29,701			$	10,235			$	1,312,903

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 March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
					Consumer Loans
	Residential Mortgages				Credit Card				Home Equity Lines and Loans				Indirect Consumer Loans				Other Direct Consumer Loans
Performing	$	191,004			$	—			$	87,783			$	129,042			$	14,403
Non-Performing	2,265				—				638				767				7
	$	193,269			$	—			$	88,421			$	129,809			$	14,410

	December 31, 2019
					Consumer Loans
	Residential Mortgages				Credit Card				Home Equity Lines and Loans				Indirect Consumer Loans				Other Direct Consumer Loans
Performing	$	186,719			$	—			$	91,424			$	134,795			$	15,099
Non-Performing	2,155				—				641				571				7
	$	188,874			$	—			$	92,065			$	135,366			$	15,106

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