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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

3 Months Ended

Mar. 31, 2021

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, 2021						December 31, 2020
Commercial and agricultural:
Commercial and industrial						$	398,923					$	368,663
Agricultural						436						283
Commercial mortgages:
Construction						58,326						61,945
Commercial mortgages, other						670,628						654,663
Residential mortgages						245,231						239,401
Consumer loans:
Home equity lines and loans						74,868						78,547
Indirect consumer loans						120,881						120,538
Direct consumer loans						11,656						12,423
Total loans, net of deferred loan fees and costs						1,580,949						1,536,463
Interest receivable on loans						5,035						5,035
Total recorded investment in loans						$	1,585,984					$	1,541,498

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, 2021 and 2020 (in thousands):

			Three Months Ended March 31, 2021
Allowance for loan losses			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Beginning balance			$	4,493					$	11,496					$	2,079					$	2,856					$	20,924
Charge-offs			—						—						(26)						(164)						(190)
Recoveries			296						—						—						138						434
Net recoveries (charge-offs)			296						—						(26)						(26)						244
Provision			(452)						290						62						(159)						(259)
Ending balance			$	4,337					$	11,786					$	2,115					$	2,671					$	20,909

			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)						1						—						(268)						(293)
Provision			990						1,603						169						288						3,050
Ending balance			$	11,191					$	10,473					$	1,421					$	3,150					$	26,235

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, 2021 and December 31, 2020 (in thousands):

			March 31, 2021
Allowance for loan losses:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Ending allowance balance attributable to loans:
Individually evaluated for impairment			$	1,430					$	107					$	—					$	42					$	1,579
Collectively evaluated for impairment			2,907						11,679						2,115						2,629						19,330
Total ending allowance balance			$	4,337					$	11,786					$	2,115					$	2,671					$	20,909

			December 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			$	1,401					$	74					$	—					$	52					$	1,527
Collectively evaluated for impairment			3,092						11,422						2,079						2,804						19,397
Total ending allowance balance			$	4,493					$	11,496					$	2,079					$	2,856					$	20,924

			March 31, 2021
Loans:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Loans individually evaluated for impairment			$	3,378					$	5,223					$	964					$	357					$	9,922
Loans collectively evaluated for  impairment			397,341						726,215						244,879						207,627						1,576,062
Total ending loans balance			$	400,719					$	731,438					$	245,843					$	207,984					$	1,585,984

			December 31, 2020
Loans:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Loans individually evaluated for impairment			$	3,400					$	5,117					$	1,271					$	801					$	10,589
Loans collectively evaluated for  impairment			366,852						714,028						238,742						211,287						1,530,909
Total ending loans balance			$	370,252					$	719,145					$	240,013					$	212,088					$	1,541,498

Summary of impaired financing receivables

The following table presents loans individually evaluated for impairment recognized by class of loans as of March 31, 2021 and December 31, 2020 (in thousands):

			March 31, 2021																		December 31, 2020
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			$	1,860					$	1,860					$	—					$	1,960					$	1,963					$	—
Commercial mortgages:
Construction			175						176						—						188						189						—
Commercial mortgages, other			7,542						4,881						—						6,814						4,760						—
Residential mortgages			981						964						—						1,283						1,271						—
Consumer loans:
Home equity lines and loans			213						196						—						645						631						—
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial			5,380						1,518						1,430						5,228						1,437						1,401
Commercial mortgages:
Commercial mortgages, other			256						166						107						258						168						74
Consumer loans:
Home equity lines and loans			161						161						42						170						170						52
Total			$	16,568					$	9,922					$	1,579					$	16,546					$	10,589					$	1,527

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, 2021 and 2020 (in thousands):

						Three Months Ended   March 31, 2021												Three Months Ended   March 31, 2020
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						$	1,912					$	13					$	120					$	—
Commercial mortgages:
Construction						182						2						239						2
Commercial mortgages, other						4,822						8						3,362						—
Residential mortgages						1,118						8						521						5
Consumer loans:
Home equity lines & loans						413						2						149						2
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial						1,477						2						5,930						—
Commercial mortgages:
Commercial mortgages, other						167						—						5,060						—
Consumer loans:
Home equity lines and loans						166						—						—						—
Total						$	10,257					$	35					$	15,381					$	9

(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, 2021 and December 31, 2020 (in thousands):

						Non-accrual												Loans Past Due 90 Days or More and Still Accruing
						March 31, 2021						December 31, 2020						March 31, 2021						December 31, 2020
Commercial and agricultural:
Commercial and industrial						$	2,267					$	2,167					$	3					$	2
Commercial mortgages:
Construction						51						55						—						—
Commercial mortgages, other						4,541						4,415						—						—
Residential mortgages						1,254						1,632						—						—
Consumer loans:
Home equity lines and loans						673						1,159						—						—
Indirect consumer loans						521						519						—						—
Direct consumer loans						18						5						—						—
Total						$	9,325					$	9,952					$	3					$	2

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, 2021 and December 31, 2020 (in thousands):

			March 31, 2021
			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			$	1,066					$	—					$	15					$	1,081											$	399,200					$	400,281
Agricultural			—						—						—						—												438						438
Commercial mortgages:
Construction			—						—						—						—												58,525						58,525
Commercial mortgages, other			1,062						174						320						1,556												671,357						672,913
Residential mortgages			449						68						382						899												244,944						245,843
Consumer loans:
Home equity lines and loans			3						—						278						281												74,800						75,081
Indirect consumer loans			700						132						240						1,072												120,125						121,197
Direct consumer loans			4						—						7						11												11,695						11,706
Total			$	3,284					$	374					$	1,242					$	4,900											$	1,581,084					$	1,585,984

			December 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			$	520					$	14					$	30					$	564											$	369,404					$	369,968
Agricultural			—						—						—						—												284						284
Commercial mortgages:
Construction			—						—						—						—												62,164						62,164
Commercial mortgages, other			1,438						3,696						308						5,442												651,539						656,981
Residential mortgages			817						406						461						1,684												238,329						240,013
Consumer loans:
Home equity lines and loans			521						41						474						1,036												77,725						78,761
Indirect consumer loans			1,268						198						252						1,718												119,135						120,853
Direct consumer loans			34						2						—						36												12,438						12,474
Total			$	4,598					$	4,357					$	1,525					$	10,480											$	1,531,018					$	1,541,498

Loans by class modified as troubled debt restructurings

The following table presents loans by class modified as TDRs that occurred during the three month period ended March 31, 2021 (dollars in thousands):

March 31, 2021						Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Commercial mortgages:
Commercial mortgages, other						2						$	2,488					$	2,488
Total						2						$	2,488					$	2,488

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

Based on the analyses performed as of March 31, 2021 and December 31, 2020, the risk category of the recorded investment of loans by class of loans is as follows (in thousands):

			March 31, 2021
			Not Rated						Pass						Special Mention						Substandard						Doubtful												Total
Commercial and agricultural:
Commercial and industrial			$	—					$	390,138					$	3,232					$	5,652					$	1,259											$	400,281
Agricultural			—						438						—						—						—												438
Commercial mortgages:
Construction			—						57,131						—						1,394						—												58,525
Commercial mortgages			—						631,346						21,502						18,938						1,127												672,913
Residential mortgages			244,589						—						—						1,254						—												245,843
Consumer loans:
Home equity lines and loans			74,408						—						—						673						—												75,081
Indirect consumer loans			120,676						—						—						521						—												121,197
Direct consumer loans			11,688						—						—						18						—												11,706
Total			$	451,361					$	1,079,053					$	24,734					$	28,450					$	2,386											$	1,585,984

			December 31, 2020
			Not Rated						Pass						Special Mention						Substandard						Doubtful												Total
Commercial and agricultural:
Commercial and industrial			$	—					$	360,500					$	2,999					$	5,092					$	1,377											$	369,968
Agricultural			—						284						—						—						—												284
Commercial mortgages:
Construction			—						59,885						—						2,279						—												62,164
Commercial mortgages			—						616,090						23,631						16,128						1,132												656,981
Residential mortgages			238,381						—						—						1,632						—												240,013
Consumer loans:
Home equity lines and loans			77,602						—						—						1,159						—												78,761
Indirect consumer loans			120,334						—						—						519						—												120,853
Direct consumer loans			12,470						—						—						4						—												12,474
Total			$	448,787					$	1,036,759					$	26,630					$	26,813					$	2,509											$	1,541,498

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, 2021 and December 31, 2020 (in thousands):

			March 31, 2021
															Consumer Loans
			Residential Mortgages												Home Equity Lines and Loans						Indirect Consumer Loans						Other Direct Consumer Loans
Performing			$	244,589											$	74,408					$	120,676					$	11,688
Non-Performing			1,254												673						521						18
			$	245,843											$	75,081					$	121,197					$	11,706

			December 31, 2020
															Consumer Loans
			Residential Mortgages												Home Equity Lines and Loans						Indirect Consumer Loans						Other Direct Consumer Loans
Performing			$	238,381											$	77,602					$	120,334					$	12,470
Non-Performing			1,632												1,159						519						4
			$	240,013											$	78,761					$	120,853					$	12,474

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