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LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables) | 3 Months Ended
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Mar. 31, 2023
Credit Loss [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):
|  | March 31, 2023 |  | December 31, 2022
Commercial and agricultural: |  |  |  |
Commercial and industrial |  | $ | 244,174 |  |  | $ | 252,044 |
Agricultural |  | 333 |  |  | 249 |
Commercial mortgages: |  |  |  |
Construction |  | 118,660 |  |  | 108,243 |
Commercial mortgages, other |  | 917,637 |  |  | 888,670 |
Residential mortgages |  | 285,944 |  |  | 285,672 |
Consumer loans: |  |  |  |
Home equity lines and loans |  | 84,537 |  |  | 81,401 |
Indirect consumer loans |  | 211,270 |  |  | 202,124 |
Direct consumer loans |  | 11,146 |  |  | 11,045 |
Total loans, net of deferred loan fees and costs |  | 1,873,701 |  |  | 1,829,448 |
Allowance for credit losses |  | (20,075) |  |  | (19,659) |
Loans, net |  | $ | 1,853,626 |  |  | $ | 1,809,789 |
Schedules of Allowance for Credit Loss | The following table presents the activity in the allowance for credit losses by portfolio segment for the three month period ended March 31, 2023 (in thousands):
| Three Months Ended March 31, 2023
Allowance for credit losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Beginning balance | $ | 3,373 |  |  | $ | 11,576 |  |  | $ | 1,845 |  |  | $ | 2,865 |  |  | $ | 19,659 |
Cumulative effect adjustment for the adoption of ASC 326 | 909 |  |  | (695) |  |  | (16) |  |  | 176 |  |  | 374 |
Beginning balance after cumulative effect adjustment | 4,282 |  |  | 10,881 |  |  | 1,829 |  |  | 3,041 |  |  | 20,033 |
Charge-offs | (190) |  |  | — |  |  | — |  |  | (193) |  |  | (383) |
Recoveries | 6 |  |  | — |  |  | — |  |  | 108 |  |  | 114 |
Net recoveries (charge-offs) | (184) |  |  | — |  |  | — |  |  | (85) |  |  | (269) |
Provision (1) | (45) |  |  | 102 |  |  | 63 |  |  | 191 |  |  | 311 |
Ending balance | $ | 4,053 |  |  | $ | 10,983 |  |  | $ | 1,892 |  |  | $ | 3,147 |  |  | $ | 20,075 |
(1) Additional credit provision related to off-balance sheet exposure was $34 thousand for the three months ended March 31, 2023. Refer to Note 1-Summary of Significant Accounting Policies in our Annual report on Form 10-K for the fiscal year ended December 31, 2022, for the allowance for loan losses policy effective prior to the adoption of ASC 326-Financial Instruments-Credit Losses, as of December 31, 2022. The following table presents the activity in the allowance for loan losses by portfolio segment for the three month period ended March 31, 2022.
| Three Months Ended March 31, 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 | (4) |  |  | — |  |  | — |  |  | (194) |  |  | (198) |
Recoveries | 6 |  |  | 1 |  |  | — |  |  | 239 |  |  | 246 |
Net recoveries (charge-offs) | 2 |  |  | 1 |  |  | — |  |  | 45 |  |  | 48 |
Provision | (110) |  |  | (593) |  |  | (197) |  |  | (245) |  |  | (1,145) |
Ending balance | $ | 3,483 |  |  | $ | 12,964 |  |  | $ | 1,606 |  |  | $ | 1,875 |  |  | $ | 19,928 |
Unfunded Commitments The allowance for credit losses on unfunded commitments is recognized as a liability (other liabilities in the Consolidated Balance Sheets), with adjustments to the reserve recognized in the provision for credit losses on the Consolidated Statements of Income. The Corporation established a reserve for unfunded commitments in conjunction with its adoption of ASC 326-Financial Instruments-Credit Losses. The following table presents the activity in the allowance for credit losses on unfunded commitments for the three month periods ended March 31, 2023 and 2022:
| For the Three Months Ended
Allowance for credit losses on unfunded commitments | March 31, 2023 |  | March 31, 2022
Beginning balance | $ | — |  |  | $ | — |
Impact of ASC 326 adoption | 1,082 |  |  | — |
Provision for unfunded commitments | (34) |  |  | — |
Ending balance | $ | 1,048 |  |  | $ | — |
The following table presents the provision for credit losses on loans and unfunded commitments for the three month period ended March 31, 2023, based upon the current expected credit loss methodology, and the provision for loan losses on loans for the three month period ended March 31, 2022, based upon the incurred loss methodology:
|  | For the Three Months Ended
| Provision for credit losses | March 31, 2023 |  | March 31, 2022
| Provision for credit losses on loans | $ | 311 |  |  | $ | (1,145) |
| Provision for unfunded commitments | (34) |  |  | — |
| Total provision (credit) for credit losses | $ | 277 |  |  | $ | (1,145) |
The following tables present the balance in the allowance for credit losses and allowance for loan losses, and the amortized cost basis in loans by portfolio segment, as of March 31, 2023 and December 31, 2022 (in thousands):
| March 31, 2023
Allowance for credit losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |
Individually analyzed | $ | 1,040 |  |  | $ | 36 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,076 |
Collectively analyzed | 3,013 |  |  | 10,947 |  |  | 1,892 |  |  | 3,147 |  |  | 18,999 |
Total ending allowance balance | $ | 4,053 |  |  | $ | 10,983 |  |  | $ | 1,892 |  |  | $ | 3,147 |  |  | $ | 20,075 |
| December 31, 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 | $ | 1,078 |  |  | $ | 38 |  |  | $ | — |  |  | $ | 31 |  |  | $ | 1,147 |
Collectively evaluated for impairment | 2,295 |  |  | 11,538 |  |  | 1,845 |  |  | 2,834 |  |  | 18,512 |
Total ending allowance balance | $ | 3,373 |  |  | $ | 11,576 |  |  | $ | 1,845 |  |  | $ | 2,865 |  |  | $ | 19,659 |
| March 31, 2023
Loans: | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Loans individually analyzed | $ | 1,779 |  |  | $ | 4,089 |  |  | $ | 715 |  |  | $ | 254 |  |  | $ | 6,837 |
Loans collectively analyzed | 242,728 |  |  | 1,032,208 |  |  | 285,229 |  |  | 306,699 |  |  | 1,866,864 |
Total ending loans balance | $ | 244,507 |  |  | $ | 1,036,297 |  |  | $ | 285,944 |  |  | $ | 306,953 |  |  | $ | 1,873,701 |
| December 31, 2022
Loans: | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Loans individually evaluated for impairment | $ | 2,112 |  |  | $ | 4,383 |  |  | $ | 723 |  |  | $ | 264 |  |  | $ | 7,482 |
Loans collectively evaluated for impairment | 250,181 |  |  | 992,530 |  |  | 284,949 |  |  | 294,306 |  |  | 1,821,966 |
Total ending loans balance | $ | 252,293 |  |  | $ | 996,913 |  |  | $ | 285,672 |  |  | $ | 294,570 |  |  | $ | 1,829,448 |
Schedule of Financing Receivable, Modified | The following table summarizes the amortized cost basis of loans modified as of March 31, 2023:
| March 31, 2023
Loans modified under ASU 2022-02: | Principal Reduction |  | Interest Rate Reduction |  | Term Extension |  | Combination |  | Total |  | (%) of Loan Class (1)
Commercial mortgages | $ | — |  |  | $ | — |  |  | $ | 277 |  |  | $ | — |  |  | $ | 277 |  |  | 0.03 | %
Total | $ | — |  |  | $ | — |  |  | $ | 277 |  |  | $ | — |  |  | $ | 277 |  |  |
(1) Represents the amortized cost basis of loans modified during the period as a percentage of the period-end loan balances by class. The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty during the three month period ended March 31, 2023:
| March 31, 2023
Effect of loan modifications under ASU 2022-02: | Principal Reduction (in thousands) |  | Weighted-average interest rate reduction (%) |  | Weighted-average term extension (in months) |
Commercial mortgages | $— |  | —% |  | 60 |
Schedule of Analysis of Collateral Dependent Loans | The following table presents the amortized cost basis and related allowance for credit loss of individually analyzed loans considered to be collateral dependent as of March 31, 2023 (in thousands):
|  | March 31, 2023
|  | Amortized Cost Basis |  | Related Allowance
Commercial and agricultural: |  |  |  |
Commercial and industrial (1) (3) |  | $ | 573 |  |  | $ | 168 |
Commercial mortgages: |  |  |  |
Commercial mortgages, other (1) |  | 4,413 |  |  | 36 |
Residential mortgages (2) |  | 715 |  |  | — |
Consumer loans |  |  |  |
Home equity lines and loans (2) |  | 254 |  |  | — |
Total |  | $ | 5,955 |  |  | $ | 204 |
(1) Secured by commercial real estate (2) Secured by residential real estate (3) Secured by business assets
Schedule of Impaired Financing Receivables | The following is a summary of impaired loans as of December 31, 2022 (in thousands):
|  | December 31, 2022
With no related allowance recorded: |  | Unpaid Principal Balance |  | Recorded Investment |  | Allowance for Loan Losses Allocated
Commercial and agricultural: |  |  |  |  |  |
Commercial and industrial |  | $ | 1,026 |  |  | $ | 1,025 |  |  | $ | — |
Commercial mortgages: |  |  |  |  |  |
Construction |  | 5 |  |  | 5 |  |  | — |
Commercial mortgages, other |  | 4,346 |  |  | 4,341 |  |  | — |
Residential mortgages |  | 767 |  |  | 760 |  |  | — |
Consumer loans: |  |  |  |  |  |
Home equity lines and loans |  | 154 |  |  | 138 |  |  | — |
With an allowance recorded: |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |
Commercial and industrial |  | 1,086 |  |  | 1,088 |  |  | 1,078 |
Commercial mortgages: |  |  |  |  |  |
Commercial mortgages, other |  | 38 |  |  | 38 |  |  | 38 |
Consumer loans: |  |  |  |  |  |
Home equity lines and loans |  | 126 |  |  | 127 |  |  | 31 |
Total |  | $ | 7,548 |  |  | $ | 7,522 |  |  | $ | 1,147 |
The following table presents the amortized cost basis and interest income of loans individually evaluated recognized by class of loans for the three month periods ended March 31, 2023 and 2022 (in thousands):
|  | Three Months Ended March 31, 2023 |  | Three Months Ended March 31, 2022 |  |  |  |
With no related allowance recorded: |  | Amortized Cost Basis |  | Interest Income Recognized (1) |  | Amortized Cost Basis |  | Interest Income Recognized (1) |  |  |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | $ | 729 |  |  | $ | — |  |  | $ | 926 |  |  | $ | 3 |  |  |  |  |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Construction |  | — |  |  | — |  |  | 113 |  |  | 1 |  |  |  |  |  |  |  |  |
Commercial mortgages, other |  | 4,053 |  |  | 7 |  |  | 4,105 |  |  | 7 |  |  |  |  |  |  |  |  |
Residential mortgages |  | 715 |  |  | 9 |  |  | 895 |  |  | 11 |  |  |  |  |  |  |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines & loans |  | 254 |  |  | — |  |  | 161 |  |  | 1 |  |  |  |  |  |  |  |  |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial |  | 1,049 |  |  | 2 |  |  | 1,414 |  |  | 3 |  |  |  |  |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgages, other |  | 36 |  |  | — |  |  | 2,601 |  |  | 21 |  |  |  |  |  |  |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans |  | — |  |  | — |  |  | 141 |  |  | — |  |  |  |  |  |  |  |  |
Total |  | $ | 6,836 |  |  | $ | 18 |  |  | $ | 10,356 |  |  | $ | 47 |  |  |  |  |  |  |  |  |
(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 amortized cost basis in non-accrual and loans past due 90 days or more and still accruing by class of loan as of March 31, 2023 and December 31, 2022 (in thousands):
| Non-accrual with no allowance for credit losses |  | Non-accrual |  | Loans Past Due 90 Days or More and Still Accruing
| March 31, 2023 |  | March 31, 2023 |  | December 31, 2022 |  | March 31, 2023 |  | December 31, 2022
Commercial and agricultural: |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 730 |  |  | $ | 1,623 |  |  | $ | 1,946 |  |  | $ | 6 |  |  | $ | 1 |
Commercial mortgages: |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | 5 |  |  | — |  |  | — |
Commercial mortgages, other | 3,611 |  |  | 3,647 |  |  | 3,928 |  |  | — |  |  | — |
Residential mortgages | 1,036 |  |  | 1,036 |  |  | 986 |  |  | — |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |
Home equity lines and loans | 866 |  |  | 866 |  |  | 760 |  |  | — |  |  | — |
Indirect consumer loans | 556 |  |  | 556 |  |  | 540 |  |  | — |  |  | — |
Direct consumer loans | 3 |  |  | 3 |  |  | 13 |  |  | — |  |  | — |
Total | $ | 6,802 |  |  | $ | 7,731 |  |  | $ | 8,178 |  |  | $ | 6 |  |  | $ | 1 |
The following tables present the aging of the amortized cost basis of loans as of March 31, 2023 and December 31, 2022 (in thousands):
| March 31, 2023
| 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 | $ | 67 |  |  | $ | 8 |  |  | $ | 16 |  |  | $ | 91 |  |  |  |  | $ | 244,083 |  |  | $ | 244,174 |
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 333 |  |  | 333 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | 2,284 |  |  | — |  |  | — |  |  | 2,284 |  |  |  |  | 116,376 |  |  | 118,660 |
Commercial mortgages, other | 246 |  |  | — |  |  | 297 |  |  | 543 |  |  |  |  | 917,094 |  |  | 917,637 |
Residential mortgages | 933 |  |  | 57 |  |  | 412 |  |  | 1,402 |  |  |  |  | 284,542 |  |  | 285,944 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 261 |  |  | 57 |  |  | 568 |  |  | 886 |  |  |  |  | 83,651 |  |  | 84,537 |
Indirect consumer loans | 1,036 |  |  | 52 |  |  | 265 |  |  | 1,353 |  |  |  |  | 209,917 |  |  | 211,270 |
Direct consumer loans | 10 |  |  | — |  |  | — |  |  | 10 |  |  |  |  | 11,136 |  |  | 11,146 |
Total | $ | 4,837 |  |  | $ | 174 |  |  | $ | 1,558 |  |  | $ | 6,569 |  |  |  |  | $ | 1,867,132 |  |  | $ | 1,873,701 |
| December 31, 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 | $ | 74 |  |  | $ | 3 |  |  | $ | 1 |  |  | $ | 78 |  |  |  |  | $ | 251,966 |  |  | $ | 252,044 |
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 249 |  |  | 249 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 108,243 |  |  | 108,243 |
Commercial mortgages, other | 1,058 |  |  | — |  |  | 486 |  |  | 1,544 |  |  |  |  | 887,126 |  |  | 888,670 |
Residential mortgages | 1,360 |  |  | 709 |  |  | 294 |  |  | 2,363 |  |  |  |  | 283,309 |  |  | 285,672 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 193 |  |  | 121 |  |  | 442 |  |  | 756 |  |  |  |  | 80,645 |  |  | 81,401 |
Indirect consumer loans | 1,397 |  |  | 193 |  |  | 250 |  |  | 1,840 |  |  |  |  | 200,284 |  |  | 202,124 |
Direct consumer loans | 2 |  |  | 19 |  |  | 1 |  |  | 22 |  |  |  |  | 11,023 |  |  | 11,045 |
Total | $ | 4,084 |  |  | $ | 1,045 |  |  | $ | 1,474 |  |  | $ | 6,603 |  |  |  |  | $ | 1,822,845 |  |  | $ | 1,829,448 |
Schedule of Risk Category of the Recorded Investment of Loans by Class of Loans | Based on the analyses performed as of March 31, 2023, the risk category of the amortized cost basis of loans by class of loans and vintage, as well as the gross charge-offs by loan class and vintage for the period, are as follows (in thousands):
| Term Loans Amortized Cost by Origination Year |  | Revolving Loans Amortized Cost |  | Revolving Loans Converted to Term |  | Total
| 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  |  |
Commercial & industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 7,750 |  |  | $ | 43,899 |  |  | $ | 21,452 |  |  | $ | 14,723 |  |  | $ | 38,017 |  |  | $ | 12,844 |  |  | $ | 88,666 |  |  | $ | — |  |  | $ | 227,351 |
Special mention | 100 |  |  | 104 |  |  | 350 |  |  | 3 |  |  | 86 |  |  | 457 |  |  | 3,478 |  |  | 9,315 |  |  | 13,893 |
Substandard | — |  |  | 36 |  |  | — |  |  | 412 |  |  | 28 |  |  | 370 |  |  | 629 |  |  | 588 |  |  | 2,063 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 867 |  |  | — |  |  | — |  |  | 867 |
Total | 7,850 |  |  | 44,039 |  |  | 21,802 |  |  | 15,138 |  |  | 38,131 |  |  | 14,538 |  |  | 92,773 |  |  | 9,903 |  |  | 244,174 |
Gross charge-offs | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 190 |  |  | $ | — |  |  | $ | — |  |  | $ | 190 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | 17 |  |  | 170 |  |  | — |  |  | — |  |  | — |  |  | 146 |  |  | — |  |  | 333 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | — |  |  | 17 |  |  | 170 |  |  | — |  |  | — |  |  | — |  |  | 146 |  |  | — |  |  | 333 |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 8,311 |  |  | 2,819 |  |  | 1,975 |  |  | — |  |  | 2,317 |  |  | 1,205 |  |  | 101,857 |  |  | — |  |  | 118,484 |
Special mention | — |  |  | 176 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 176 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 8,311 |  |  | 2,995 |  |  | 1,975 |  |  | — |  |  | 2,317 |  |  | 1,205 |  |  | 101,857 |  |  | — |  |  | 118,660 |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 31,729 |  |  | 214,915 |  |  | 129,614 |  |  | 99,057 |  |  | 40,489 |  |  | 180,523 |  |  | 192,038 |  |  | — |  |  | 888,365 |
Special mention | — |  |  | 2,563 |  |  | 8,828 |  |  | 1,033 |  |  | — |  |  | 3,867 |  |  | — |  |  | 6,154 |  |  | 22,445 |
Substandard | 277 |  |  | 1,186 |  |  | — |  |  | — |  |  | — |  |  | 4,790 |  |  | 97 |  |  | 441 |  |  | 6,791 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 36 |  |  | — |  |  | — |  |  | 36 |
Total | 32,006 |  |  | 218,664 |  |  | 138,442 |  |  | 100,090 |  |  | 40,489 |  |  | 189,216 |  |  | 192,135 |  |  | 6,595 |  |  | 917,637 |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 5,594 |  |  | 52,576 |  |  | 52,443 |  |  | 75,198 |  |  | 16,416 |  |  | 52,615 |  |  | 30,066 |  |  | — |  |  | 284,908 |
Substandard | — |  |  | 107 |  |  | 64 |  |  | 111 |  |  | 181 |  |  | 573 |  |  | — |  |  | — |  |  | 1,036 |
Total | 5,594 |  |  | 52,683 |  |  | 52,507 |  |  | 75,309 |  |  | 16,597 |  |  | 53,188 |  |  | 30,066 |  |  | — |  |  | 285,944 |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Home equity lines and loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 3,945 |  |  | 19,073 |  |  | 6,477 |  |  | 3,827 |  |  | 3,110 |  |  | 12,740 |  |  | 34,500 |  |  | — |  |  | 83,672 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 121 |  |  | 392 |  |  | 352 |  |  | — |  |  | 865 |
Total | 3,945 |  |  | 19,073 |  |  | 6,477 |  |  | 3,827 |  |  | 3,231 |  |  | 13,132 |  |  | 34,852 |  |  | — |  |  | 84,537 |
Gross charge-offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 8 |  |  | — |  |  | 8 |
Indirect consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 26,012 |  |  | 123,593 |  |  | 32,138 |  |  | 14,374 |  |  | 7,385 |  |  | 7,211 |  |  | — |  |  | — |  |  | 210,713 |
Substandard | — |  |  | 186 |  |  | 98 |  |  | 59 |  |  | 73 |  |  | 141 |  |  | — |  |  | — |  |  | 557 |
Total | 26,012 |  |  | 123,779 |  |  | 32,236 |  |  | 14,433 |  |  | 7,458 |  |  | 7,352 |  |  | — |  |  | — |  |  | 211,270 |
Gross charge-offs | — |  |  | 43 |  |  | 36 |  |  | 30 |  |  | 12 |  |  | 23 |  |  | — |  |  | — |  |  | 144 |
Direct consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 1,121 |  |  | 3,956 |  |  | 1,330 |  |  | 630 |  |  | 266 |  |  | 478 |  |  | 3,362 |  |  | — |  |  | 11,143 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3 |  |  | — |  |  | — |  |  | 3 |
Total | 1,121 |  |  | 3,956 |  |  | 1,330 |  |  | 630 |  |  | 266 |  |  | 481 |  |  | 3,362 |  |  | — |  |  | 11,146 |
Gross charge-offs | — |  |  | — |  |  | 1 |  |  | 4 |  |  | — |  |  | 36 |  |  | — |  |  | — |  |  | 41 |
Total loans | $ | 84,839 |  |  | $ | 465,206 |  |  | $ | 254,939 |  |  | $ | 209,427 |  |  | $ | 108,489 |  |  | $ | 279,112 |  |  | $ | 455,191 |  |  | $ | 16,498 |  |  | $ | 1,873,701 |
Total gross charge-offs | $ | — |  |  | $ | 43 |  |  | $ | 37 |  |  | $ | 34 |  |  | $ | 12 |  |  | $ | 249 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 383 |
Prior to the adoption of ASC 326-Financial Instruments-Credit Losses, loans not meeting the criteria above that were analyzed individually as part of the above described process were considered pass rated loans as of December 31, 2022. Based upon the analyses performed as of December 31, 2022, the risk category of the recorded investment of loans by class of loans was as follows (in thousands):
| December 31, 2022
| Not Rated |  | Pass |  | Special Mention |  | Substandard |  | Doubtful |  |  |  | Total
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | — |  |  | $ | 235,900 |  |  | $ | 13,349 |  |  | $ | 2,899 |  |  | $ | 893 |  |  |  |  | $ | 253,041 |
Agricultural | — |  |  | 250 |  |  | — |  |  | — |  |  | — |  |  |  |  | 250 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | 108,488 |  |  | 178 |  |  | 5 |  |  | — |  |  |  |  | 108,671 |
Commercial mortgages | — |  |  | 860,389 |  |  | 23,938 |  |  | 7,825 |  |  | 38 |  |  |  |  | 892,190 |
Residential mortgages | 285,459 |  |  | — |  |  | — |  |  | 986 |  |  | — |  |  |  |  | 286,445 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 80,942 |  |  | — |  |  | — |  |  | 760 |  |  | — |  |  |  |  | 81,702 |
Indirect consumer loans | 202,050 |  |  | — |  |  | — |  |  | 540 |  |  | — |  |  |  |  | 202,590 |
Direct consumer loans | 11,094 |  |  | — |  |  | — |  |  | 13 |  |  | — |  |  |  |  | 11,107 |
Total | $ | 579,545 |  |  | $ | 1,205,027 |  |  | $ | 37,465 |  |  | $ | 13,028 |  |  | $ | 931 |  |  |  |  | $ | 1,835,996 |
For residential and consumer loan classes, the Corporation also evaluated credit quality based on the aging status of the loan, which was previously presented, by payment activity. The following table presents the amortized cost basis in residential and consumer loans based on payment activity as of March 31, 2023 (in thousands):
| Consumer Loans
March 31, 2023 | Residential Mortgages |  |  |  | Home Equity Lines and Loans |  | Indirect Consumer Loans |  | Other Direct Consumer Loans
Performing | $ | 284,908 |  |  |  |  | $ | 83,672 |  |  | $ | 210,713 |  |  | $ | 11,143 |
Non-Performing | 1,036 |  |  |  |  | 865 |  |  | 557 |  |  | 3 |
Total | $ | 285,944 |  |  |  |  | $ | 84,537 |  |  | $ | 211,270 |  |  | $ | 11,146 |
Prior to the adoption of ASC 326-Financial Instruments-Credit Losses, the Corporation also evaluated credit quality based on the aging status of the loan, which was previously presented, by payment activity. The following table presents the recorded investment in residential and consumer loans based on payment activity as of December 31, 2022 (in thousands):
| Consumer Loans
December 31, 2022 | Residential Mortgages |  |  |  | Home Equity Lines and Loans |  | Indirect Consumer Loans |  | Other Direct Consumer Loans
Performing | $ | 285,459 |  |  |  |  | $ | 80,942 |  |  | $ | 202,050 |  |  | $ | 11,094 |
Non-Performing | 986 |  |  |  |  | 760 |  |  | 540 |  |  | 13 |
Total | $ | 286,445 |  |  |  |  | $ | 81,702 |  |  | $ | 202,590 |  |  | $ | 11,107 |

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