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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)

9 Months Ended

Sep. 30, 2022

Receivables [Abstract]

Schedule of 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):

						September 30, 2022						December 31, 2021
Commercial and agricultural:
Commercial and industrial						$	262,014					$	256,893
Agricultural						75						394
Commercial mortgages:
Construction						105,330						82,204
Commercial mortgages, other						836,190						720,358
Residential mortgages						283,128						259,334
Consumer loans:
Home equity lines and loans						76,871						70,670
Indirect consumer loans						168,214						118,569
Direct consumer loans						10,933						9,827
Total loans, net of deferred loan fees and costs						1,742,755						1,518,249
Interest receivable on loans						5,128						4,133
Total recorded investment in loans						$	1,747,883					$	1,522,382

Schedule of 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 September 30, 2022 and 2021 (in thousands):

			Three Months Ended September 30, 2022
Allowance for loan losses			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Beginning balance			$	3,564					$	10,314					$	1,714					$	1,893					$	17,485
Charge-offs			—						—						—						(277)						(277)
Recoveries			6						1						40						121						168
Net recoveries (charge-offs)			6						1						40						(156)						(109)
Provision			(55)						671						42						597						1,255
Ending balance			$	3,515					$	10,986					$	1,796					$	2,334					$	18,631

			Three Months Ended September 30, 2021
Allowance for loan losses			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Beginning balance			$	3,628					$	12,963					$	1,791					$	2,294					$	20,676
Charge-offs			—						(44)						—						(190)						(234)
Recoveries			8						1						—						133						142
Net recoveries (charge-offs)			8						(43)						—						(57)						(92)
Provision			(15)						361						80						(70)						356
Ending balance			$	3,621					$	13,281					$	1,871					$	2,167					$	20,940

The following tables present the activity in the allowance for loan losses by portfolio segment for the nine month periods ended September 30, 2022 and 2021 (in thousands):

			Nine Months Ended September 30, 2022
Allowance for loan losses			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Beginning balance			$	3,591					$	13,556					$	1,803					$	2,075					$	21,025
Charge-offs			(20)						(687)						—						(599)						(1,306)
Recoveries			37						3						40						466						546
Net recoveries (charge-offs)			17						(684)						40						(133)						(760)
Provision			(93)						(1,886)						(47)						392						(1,634)
Ending balance			$	3,515					$	10,986					$	1,796					$	2,334					$	18,631

			Nine Months Ended September 30, 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			(25)						(44)						(71)						(510)						(650)
Recoveries			283						2						10						424						719
Net recoveries (charge-offs)			258						(42)						(61)						(86)						69
Provision			(1,130)						1,827						(147)						(603)						(53)
Ending balance			$	3,621					$	13,281					$	1,871					$	2,167					$	20,940

Schedule of 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 September 30, 2022 and December 31, 2021 (in thousands):

			September 30, 2022
Allowance for loan losses:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Ending allowance balance attributable to loans:
Individually evaluated for impairment			$	1,323					$	41					$	—					$	41					$	1,405
Collectively evaluated for impairment			2,192						10,945						1,796						2,293						17,226
Total ending allowance balance			$	3,515					$	10,986					$	1,796					$	2,334					$	18,631

			December 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			$	1,394					$	1,571					$	—					$	65					$	3,030
Collectively evaluated for impairment			2,197						11,985						1,803						2,010						17,995
Total ending allowance balance			$	3,591					$	13,556					$	1,803					$	2,075					$	21,025

			September 30, 2022
Loans:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Loans individually evaluated for impairment			$	2,531					$	4,313					$	768					$	277					$	7,889
Loans collectively evaluated for  impairment			260,388						940,188						283,076						256,342						1,739,994
Total ending loans balance			$	262,919					$	944,501					$	283,844					$	256,619					$	1,747,883

			December 31, 2021
Loans:			Commercial and Agricultural						Commercial Mortgages						Residential Mortgages						Consumer Loans						Total
Loans individually evaluated for impairment			$	2,427					$	7,967					$	938					$	315					$	11,647
Loans collectively evaluated for  impairment			255,586						796,858						259,029						199,262						1,510,735
Total ending loans balance			$	258,013					$	804,825					$	259,967					$	199,577					$	1,522,382

Schedule of Impaired Financing Receivables

The following table presents loans individually evaluated for impairment recognized by class of loans as of September 30, 2022 and December 31, 2021 (in thousands):

			September 30, 2022																		December 31, 2021
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			$	570					$	569					$	—					$	954					$	948					$	—
Commercial mortgages:
Construction			12						12						—						129						130						—
Commercial mortgages, other			4,261						4,260						—						6,940						4,278						—
Residential mortgages			777						768						—						951						938						—
Consumer loans:
Home equity lines and loans			160						144						—						185						169						—
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial			1,961						1,962						1,323						5,350						1,479						1,394
Commercial mortgages:
Commercial mortgages, other			41						41						41						3,550						3,559						1,571
Consumer loans:
Home equity lines and loans			133						133						41						146						146						65
Total			$	7,915					$	7,889					$	1,405					$	18,205					$	11,647					$	3,030

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 nine month periods ended September 30, 2022 and 2021 (in thousands):

						Three Months Ended   September 30, 2022												Three Months Ended   September 30, 2021												Nine Months Ended   September 30, 2022												Nine Months Ended   September 30, 2021
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						$	585					$	—					$	1,378					$	3					$	761					$	—					$	1,645					$	3
Commercial mortgages:
Construction						55						—						151						1						88						—						167						5
Commercial mortgages, other						4,150						7						4,665						8						4,171						14						4,743						23
Residential mortgages						846						9						950						12						890						19						1,034						29
Consumer loans:
Home equity lines & loans						149						—						184						2						157						—						299						5
With an allowance recorded:
Commercial and agricultural:
Commercial and industrial						1,643						2						1,545						4						1,545						5						1,511						6
Commercial mortgages:
Commercial mortgages, other						42						—						3,644						25						1,563						—						1,905						25
Consumer loans:
Home equity lines and loans						134						—						155						—						139						—						160						—
Total						$	7,604					$	18					$	12,672					$	55					$	9,314					$	38					$	11,464					$	96

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

Schedule of Recorded Investment in Past Due and Non-Accrual Status by Class of Loans

The following table presents the recorded investment in non-accrual and loans past due 90 days or more and still accruing by class of loan as of September 30, 2022 and December 31, 2021 (in thousands):

						Non-accrual												Loans Past Due 90 Days or More and Still Accruing
						September 30, 2022						December 31, 2021						September 30, 2022						December 31, 2021
Commercial and agricultural:
Commercial and industrial						$	2,360					$	1,932					$	—					$	4
Commercial mortgages:
Construction						12						34						—						—
Commercial mortgages, other						3,840						3,844						—						—
Residential mortgages						699						1,039						—						—
Consumer loans:
Home equity lines and loans						833						790						—						—
Indirect consumer loans						565						462						—						—
Direct consumer loans						1						13						—						—
Total						$	8,310					$	8,114					$	—					$	4

The following tables present the aging of the recorded investment in loans as of September 30, 2022 and December 31, 2021 (in thousands):

			September 30, 2022
			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			$	12					$	—					$	101					$	113											$	262,731					$	262,844
Agricultural			—						—						—						—												75						75
Commercial mortgages:
Construction			12						—						—						12												105,652						105,664
Commercial mortgages, other			246						17						531						794												838,043						838,837
Residential mortgages			1,952						316						396						2,664												281,180						283,844
Consumer loans:
Home equity lines and loans			133						159						457						749												76,356						77,105
Indirect consumer loans			905						230						270						1,405												167,126						168,531
Direct consumer loans			3						1						—						4												10,979						10,983
Total			$	3,263					$	723					$	1,755					$	5,741											$	1,742,142					$	1,747,883

			December 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			$	413					$	148					$	26					$	587											$	257,031					$	257,618
Agricultural			—						—						—						—												395						395
Commercial mortgages:
Construction			—						—						—						—												82,435						82,435
Commercial mortgages, other			24						224						1,302						1,550												720,840						722,390
Residential mortgages			580						32						652						1,264												258,703						259,967
Consumer loans:
Home equity lines and loans			256						69						424						749												70,105						70,854
Indirect consumer loans			1,179						424						255						1,858												116,997						118,855
Direct consumer loans			24						11						13						48												9,820						9,868
Total			$	2,476					$	908					$	2,672					$	6,056											$	1,516,326					$	1,522,382

Schedule of 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 September 30, 2021 (dollars in thousands):

September 30, 2021						Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Commercial mortgages:
Commercial mortgages, other						2						$	502					$	502
Total						2						$	502					$	502

The following table presents loans by class modified as TDRs that occurred during the nine month period ended September 30, 2021 (dollars in thousands):

September 30, 2021						Number of Loans						Pre-Modification Outstanding Recorded Investment						Post-Modification Outstanding Recorded Investment
Troubled debt restructurings:
Commercial and agricultural:
Commercial and industrial						—						$	—					$	—
Commercial mortgages:
Commercial mortgages, other						6						$	6,596					$	6,596
Total						6						$	6,596					$	6,596

Schedule of Risk Category of the Recorded Investment of Loans by Class of Loans

Based on the analyses performed as of September 30, 2022 and December 31, 2021, the risk category of the recorded investment of loans by class of loans is as follows (in thousands):

			September 30, 2022
			Not Rated						Pass						Special Mention						Substandard						Doubtful												Total
Commercial and agricultural:
Commercial and industrial			$	—					$	255,235					$	3,366					$	3,313					$	930											$	262,844
Agricultural			—						75						—						—						—												75
Commercial mortgages:
Construction			—						105,473						179						12						—												105,664
Commercial mortgages			—						802,080						28,910						7,806						41												838,837
Residential mortgages			283,145						—						—						699						—												283,844
Consumer loans:
Home equity lines and loans			76,272						—						—						833						—												77,105
Indirect consumer loans			167,966						—						—						565						—												168,531
Direct consumer loans			10,983						—						—						—						—												10,983
Total			$	538,366					$	1,162,863					$	32,455					$	13,228					$	971											$	1,747,883

			December 31, 2021
			Not Rated						Pass						Special Mention						Substandard						Doubtful												Total
Commercial and agricultural:
Commercial and industrial			$	—					$	250,529					$	2,892					$	3,108					$	1,089											$	257,618
Agricultural			—						395						—						—						—												395
Commercial mortgages:
Construction			—						82,404						—						31						—												82,435
Commercial mortgages			—						672,741						31,072						17,458						1,119												722,390
Residential mortgages			258,928						—						—						1,039						—												259,967
Consumer loans:
Home equity lines and loans			70,064						—						—						790						—												70,854
Indirect consumer loans			118,393						—						—						462						—												118,855
Direct consumer loans			9,855						—						—						13						—												9,868
Total			$	457,240					$	1,006,069					$	33,964					$	22,901					$	2,208											$	1,522,382

Schedule of 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 September 30, 2022 and December 31, 2021 (in thousands):

			September 30, 2022
															Consumer Loans
			Residential Mortgages												Home Equity Lines and Loans						Indirect Consumer Loans						Other Direct Consumer Loans
Performing			$	283,145											$	76,272					$	167,966					$	10,982
Non-Performing			699												833						565						1
			$	283,844											$	77,105					$	168,531					$	10,983

			December 31, 2021
															Consumer Loans
			Residential Mortgages												Home Equity Lines and Loans						Indirect Consumer Loans						Other Direct Consumer Loans
Performing			$	258,928											$	70,064					$	118,393					$	9,855
Non-Performing			1,039												790						462						13
			$	259,967											$	70,854					$	118,855					$	9,868

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