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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

6 Months Ended

Jun. 30, 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):

						June 30, 2020						December 31, 2019
Commercial and agricultural:
Commercial and industrial						$	395,044					$	230,018
Agricultural						416						274
Commercial mortgages:
Construction						47,180						43,962
Commercial mortgages, other						623,261						604,832
Residential mortgages						207,999						188,338
Consumer loans:
Home equity lines and loans						85,927						91,784
Indirect consumer loans						124,921						134,973
Direct consumer loans						13,250						15,038
Total loans, net of deferred origination fees and costs						1,497,998						1,309,219
Interest receivable on loans						4,748						3,684
Total recorded investment in loans						$	1,502,746					$	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 June 30, 2020 and 2019 (in thousands):

			Three Months Ended June 30, 2020
Allowance for loan losses			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Beginning balance			$	11,191					$	10,472					$	1,421					$	3,149					$	26,233
Charge-offs			(36)						(2,143)						(13)						(297)						(2,489)
Recoveries			5						—						49						72						126
Net recoveries (charge-offs)			(31)						(2,143)						36						(225)						(2,363)
Provision			(2,833)						2,220						434						439						260
Ending balance			$	8,327					$	10,549					$	1,891					$	3,363					$	24,130

			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

The following tables present the activity in the allowance for loan losses by portfolio segment for the six month periods ended June 30, 2020 and 2019 (in thousands):

			Six Months Ended June 30, 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:			(65)						(2,143)						(13)						(700)						(2,921)
Recoveries:			8						—						48						207						263
Net recoveries (charge-offs)			(57)						(2,143)						35						(493)						(2,658)
Provision			(1,843)						3,823						604						726						3,310
Ending balance			$	8,327					$	10,549					$	1,891					$	3,363					$	24,130

			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

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

			June 30, 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			$	5,431					$	213					$	—					$	62					$	5,706
Collectively evaluated for impairment			2,896						10,336						1,891						3,301						18,424
Total ending allowance balance			$	8,327					$	10,549					$	1,891					$	3,363					$	24,130

			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

			June 30, 2020
Loans:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Loans individually evaluated for impairment			$	6,572					$	7,162					$	1,170					$	837					$	15,741
Loans collectively evaluated for  impairment			390,126						665,378						207,523						223,978						1,487,005
Total ending loans balance			$	396,698					$	672,540					$	208,693					$	224,815					$	1,502,746

			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 June 30, 2020 and December 31, 2019 (in thousands):

			June 30, 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			$	1,089					$	1,088					$	—					$	133					$	133					$	—
Commercial mortgages:
Construction			219						220						—						247						247						—
Commercial mortgages, other			6,887						4,743						—						3,501						3,503						—
Residential mortgages			1,190						1,170						—						554						525						—
Consumer loans:
Home equity lines and loans			672						657						—						171						149						—
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial			5,481						5,484						5,431						6,013						6,014						6,000
Commercial mortgages:
Commercial mortgages, other			2,197						2,199						213						5,093						5,094						2,097
Consumer loans:
Home equity lines and loans			180						180						62						—						—						—
Total			$	17,915					$	15,741					$	5,706					$	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 and six month periods ended June 30, 2020 and 2019 (in thousands):

						Three Months Ended   June 30, 2020																		Three Months Ended   June 30, 2019																		Six Months Ended   June 30, 2020																		Six Months Ended   June 30, 2019
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						$	597					$	—					$	289					$	—					$	442					$	—					$	308					$	1
Commercial mortgages:
Construction						226						2						285						2						233						4						293						5
Commercial mortgages, other						3,982						—						3,640						3						3,822						—						3,738						6
Residential mortgages						844						5						388						2						738						10						393						4
Consumer loans:
Home equity lines & loans						403						2						163						1						318						3						127						1
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial						5,665						2						1,817						—						5,781						2						1,805						—
Commercial mortgages:
Commercial mortgages, other						3,613						8						7,741						—						4,107						8						5,795						—
Consumer loans:
Home equity lines and loans						90						—						—						—						60						—						—						—
Total						$	15,420					$	19					$	14,323					$	8					$	15,501					$	27					$	12,459					$	17

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

						Non-accrual																		Loans Past Due 90 Days or More and Still Accruing
						June 30, 2020						December 31, 2019						June 30, 2020						December 31, 2019
Commercial and agricultural:
Commercial and industrial						$	6,439					$	6,147					$	3					$	7
Commercial mortgages:
Construction						70						80						—						—
Commercial mortgages, other						6,416						8,407						—						—
Residential mortgages						2,537						2,155						—						—
Consumer loans:
Home equity lines and loans						1,061						641						—						—
Indirect consumer loans						755						571						—						—
Direct consumer loans						1						7						—						—
Total						$	17,279					$	18,008					$	3					$	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 June 30, 2020 and December 31, 2019 (in thousands):

			June 30, 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			$	3,796					$	215					$	276					$	4,287											$	391,993					$	396,280
Agricultural			—						—						—						—												418						418
Commercial mortgages:
Construction			—						—						—						—												47,329						47,329
Commercial mortgages, other			1,046						347						1,881						3,274												621,937						625,211
Residential mortgages			590						364						733						1,687												207,006						208,693
Consumer loans:
Home equity lines and loans			180						53						96						329												85,855						86,184
Indirect consumer loans			499						102						386						987												124,331						125,318
Direct consumer loans			2						1						—						3												13,310						13,313
Total			$	6,113					$	1,082					$	3,372					$	10,567											$	1,492,179					$	1,502,746

			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			441						277						2,165						2,883												603,605						606,488
Residential mortgages			1,016						803						956						2,775												186,099						188,874
Consumer loans:
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						11						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 tables present loans by class modified as TDRs that occurred during the three month period ended June 30, 2020 and June 30, 2019 (dollars in thousands):

June 30, 2020						Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Commercial and agricultural:
Commercial and industrial						$	2					$	929					$	929
Commercial mortgages:
Commercial mortgages, other						4						1,297						1,297
Residential mortgages						3						677						677
Consumer loans:
Home equity lines and loans						3						738						738
Total						$	12					$	3,641					$	3,641

The TDRs described above increased the allowance for loan losses by $0.2 million and resulted in no charge-offs during the three month period ended June 30, 2020. There were no loans modified as TDRs during the three month period ended June 30, 2019.

The following tables present loans by class modified as TDRs that occurred during the six month period ended June 30, 2020 and June 30, 2019 (dollars in thousands):

June 30, 2020						Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Commercial and agricultural:
Commercial and industrial						$	2					$	929					$	929
Commercial mortgages:
Commercial mortgages, other						4						1,297						1,297
Residential mortgages						3						677						677
Consumer loans:
Home equity lines and loans						3						738						738
Total						$	12					$	3,641					$	3,641

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

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

Based on the analyses performed as of June 30, 2020 and December 31, 2019, the risk category of the recorded investment of loans by class of loans is as follows (in thousands):

			June 30, 2020
			Not Rated						Pass						Special Mention						Substandard						Doubtful												Total
Commercial and agricultural:
Commercial and industrial			$	—					$	382,873					$	4,324					$	3,786					$	5,297											$	396,280
Agricultural			—						418						—						—						—												418
Commercial mortgages:
Construction			—						43,235						546						3,548						—												47,329
Commercial mortgages			—						596,641						14,436						11,868						2,266												625,211
Residential mortgages			206,156						—						—						2,537						—												208,693
Consumer loans:
Home equity lines and loans			85,123						—						—						1,061						—												86,184
Indirect consumer loans			124,563						—						—						755						—												125,318
Direct consumer loans			13,312						—						—						1						—												13,313
Total			$	429,154					$	1,023,167					$	19,306					$	23,556					$	7,563											$	1,502,746

			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:
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 June 30, 2020 and December 31, 2019 (in thousands):

			June 30, 2020
															Consumer Loans
			Residential Mortgages												Home Equity Lines and Loans						Indirect Consumer Loans						Other Direct Consumer Loans
Performing			$	206,156											$	85,123					$	124,563					$	13,312
Non-Performing			2,537												1,061						755						1
			$	208,693											$	86,184					$	125,318					$	13,313

			December 31, 2019
												Consumer Loans
			Residential Mortgages												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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