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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 12 Months Ended
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Dec. 31, 2023
Loans and Leases Receivable Disclosure [Abstract] |
Composition of Loan Portfolio by Type | The composition of the loan portfolio, net of deferred loan fees at December 31, 2023 and 2022 is summarized as follows (in thousands):
| 2023 |  | 2022
Commercial and agricultural: |  |  |
Commercial and industrial | $ | 264,140 |  |  | $ | 252,044 |
Agricultural | 256 |  |  | 249 |
Commercial mortgages: |  |  |
Construction | 138,887 |  |  | 108,243 |
Commercial mortgages, other | 984,038 |  |  | 888,670 |
Residential mortgages | 277,992 |  |  | 285,672 |
Consumer loans: |  |  |
Home equity lines and loans | 87,056 |  |  | 81,401 |
Indirect consumer loans | 210,423 |  |  | 202,124 |
Direct consumer loans | 9,872 |  |  | 11,045 |
Total loans, net of deferred loan fees | 1,972,664 |  |  | 1,829,448 |
Allowance for credit losses | (22,517) |  |  | (19,659) |
Loans, net of allowance for credit losses | $ | 1,950,147 |  |  | $ | 1,809,789 |
Allowance for Loan Losses by Portfolio Segment | The following tables present the activity in the allowance for credit losses by portfolio segment for the year ended December 31, 2023 and the allowance for loan losses for the year ended December 31, 2022 , respectively (in thousands):
| December 31, 2023
Allowance for credit losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  |  |  | Total
Beginning balance, January 1, 2023 | $ | 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, January 1, 2023 | 4,282 |  |  | 10,881 |  |  | 1,829 |  |  | 3,041 |  |  |  |  | 20,033 |
Charge Offs: | (281) |  |  | — |  |  | (32) |  |  | (1,070) |  |  |  |  | (1,383) |
Recoveries: | 22 |  |  | 4 |  |  | — |  |  | 416 |  |  |  |  | 442 |
Net (charge offs) recoveries | (259) |  |  | 4 |  |  | (32) |  |  | (654) |  |  |  |  | (941) |
Provision (1) | 1,032 |  |  | 1,141 |  |  | 397 |  |  | 855 |  |  |  |  | 3,425 |
Ending balance, December 31, 2023 | $ | 5,055 |  |  | $ | 12,026 |  |  | $ | 2,194 |  |  | $ | 3,242 |  |  |  |  | $ | 22,517 |
(1) Additional provision related to off-balance sheet exposure was a credit of $163 thousand for the year ended December 31, 2023.
| December 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: | (20) |  |  | (687) |  |  | (17) |  |  | (770) |  |  |  |  | (1,494) |
Recoveries: | 42 |  |  | 3 |  |  | 40 |  |  | 597 |  |  |  |  | 682 |
Net recoveries (charge offs) | 22 |  |  | (684) |  |  | 23 |  |  | (173) |  |  |  |  | (812) |
Provision | (240) |  |  | (1,296) |  |  | 19 |  |  | 963 |  |  |  |  | (554) |
Ending balance | $ | 3,373 |  |  | $ | 11,576 |  |  | $ | 1,845 |  |  | $ | 2,865 |  |  |  |  | $ | 19,659 |
Unfunded Commitments The allowance for credit losses on unfunded commitments represents the amount held against credit exposures that are not represented on the Consolidated Balance Sheets. The allowance is recognized as a liability, a component of Other liabilities on the Consolidated Balance Sheets, with adjustments to the allowance recognized in the provision for credit losses line item 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 years ended December 31, 2023 and 2022:
Allowance for credit losses on unfunded commitments | For the Twelve Months Ended December 31,
| 2023 |  | 2022
Beginning balance | $ | — |  |  | $ | — |
Impact of adoption of ASC-326 | 1,082 |  |  | — |
Provision for credit losses on unfunded commitments | (163) |  |  | — |
Ending balance | $ | 919 |  |  | $ | — |
The following table presents the provision for credit losses on loans and unfunded commitments for the year ended December 31, 2023 , based upon the current expected credit loss methodology, and the provision for loan losses on loans for the year ended December 31, 2022, based upon the incurred loss methodology:
| For the Twelve Months Ended December 31,
Provision for credit losses | 2023 |  | 2022
Provision for credit losses on loans | $ | 3,425 |  |  | $ | (554) |
Provision for credit losses on unfunded commitments | (163) |  |  | — |
Total provision (credit) for credit losses | $ | 3,262 |  |  | $ | (554) |
The following tables present the balance in the Allowance for credit losses and the amortized cost basis in loans by portfolio segment and based on analysis status as of December 31, 2023 and the allowance for loan losses and the amortized cost basis in loans by portfolio as of December 31, 2022, respectively (in thousands):
| December 31, 2023
Allowance for credit losses | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |
Individually analyzed | $ | 1,928 |  |  | $ | 27 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,955 |
Collectively analyzed | 3,127 |  |  | 11,999 |  |  | 2,194 |  |  | 3,242 |  |  | 20,562 |
Total ending allowance balance | $ | 5,055 |  |  | $ | 12,026 |  |  | $ | 2,194 |  |  | $ | 3,242 |  |  | $ | 22,517 |
| 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 |
| December 31, 2023
Loans | Commercial and Agricultural |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Loans individually analyzed | $ | 2,067 |  |  | $ | 5,968 |  |  | $ | — |  |  | $ | — |  |  | $ | 8,035 |
Loans collectively analyzed | 262,329 |  |  | 1,116,957 |  |  | 277,992 |  |  | 307,351 |  |  | 1,964,629 |
Total ending loans balance | $ | 264,396 |  |  | $ | 1,122,925 |  |  | $ | 277,992 |  |  | $ | 307,351 |  |  | $ | 1,972,664 |
| 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 |
Financing Receivable, Modified | he following table summarizes the amortized cost basis of loans modified during the year ended December 31, 2023 (in thousands):
| December 31, 2023
Loans modified under ASU 2022-02 | Principal Reduction |  | Interest Rate Reduction |  | Term Extension |  | Payment Delay |  | Combination |  | Total |  | (%) of Loan Class (1)
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial & industrial | $ | — |  |  | $ | — |  |  | $ | 1,011 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,011 |  |  | 0.38 | %
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Commercial mortgages, other | — |  |  | — |  |  | 272 |  |  | 1,878 |  |  | — |  |  | 2,150 |  |  | 0.22 | %
Residential mortgages | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | — |  |  | — |  |  | 116 |  |  | — |  |  | — |  |  | 116 |  |  | 0.13 | %
Indirect consumer loans | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Direct consumer loans | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — | %
Total | $ | — |  |  | $ | — |  |  | $ | 1,399 |  |  | $ | 1,878 |  |  | $ | — |  |  | $ | 3,277 |  |  |
(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 year ended December 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) |  | Weighted-average payment delay (in months)
Commercial and agricultural: |  |  |  |  |  |  |
Commercial & industrial | $ | — |  |  | — | % |  | 12 months |  |
Agricultural | $ | — |  |  | — | % |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |
Construction | $ | — |  |  | — | % |  |  |  |
Commercial mortgages, other | $ | — |  |  | — | % |  | 60 months |  | 4 months
Residential mortgages | $ | — |  |  | — | % |  |  |  |
Consumer loans: |  |  |  |  |  |  |
Home equity lines and loans | $ | — |  |  | — | % |  | 180 months |  |
Indirect consumer loans | $ | — |  |  | — | % |  |  |  |
Direct consumer loans | $ | — |  |  | — | % |  |  |  |
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 December 31, 2023 (in thousands):
|  | December 31, 2023 |  |
|  | Amortized Cost Basis |  | Related Allowance |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |
Commercial and industrial (1) (2) |  | $ | 353 |  |  | $ | 214 |  |  |  |  |
Agricultural (2) |  | 26 |  |  | 26 |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |
Construction (1) |  | 2,209 |  |  | — |  |  |  |  |
Commercial mortgages, other (1) (2) (3) |  | 3,759 |  |  | 27 |  |  |  |  |
Total |  | $ | 6,347 |  |  | $ | 267 |  |  |  |  |
(1) Secured by commercial real estate (2) Secured by business assets (3) Secured by residential real estate
Financing Receivable, Troubled Debt | 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 | 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 | 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 average amortized basis and interest income recognized for loans individually analyzed, by class, as of December 31, 2023 and loans individually evaluated for impairment, by class, as of December 31, 2022, (in thousands):
| December 31, 2023 |  | December 31, 2022 |  |
With no related allowance recorded: | Average Amortized Cost Basis |  | Interest Income Recognized (1) |  | Average Amortized Cost Basis |  | Interest Income Recognized (1) |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 431 |  |  | $ | — |  |  | $ | 814 |  |  | $ | — |  |  |  |  |
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction | 443 |  |  | 103 |  |  | 71 |  |  | — |  |  |  |  |
Commercial mortgages | 3,988 |  |  | 5 |  |  | 4,211 |  |  | 14 |  |  |  |  |
Residential mortgages | 288 |  |  | — |  |  | 864 |  |  | 37 |  |  |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity lines & loans | 99 |  |  | — |  |  | 153 |  |  | — |  |  |  |  |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | 1,328 |  |  | 55 |  |  | 1,453 |  |  | 5 |  |  |  |  |
Agricultural | 11 |  |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial mortgages | 33 |  |  | — |  |  | 1,258 |  |  | — |  |  |  |  |
Residential mortgages | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 25 |  |  | — |  |  | 137 |  |  | — |  |  |  |  |
Direct consumer loans | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Total | $ | 6,646 |  |  | $ | 163 |  |  | $ | 8,961 |  |  | $ | 56 |  |  |  |  |
(1) Cash basis interest income approximates interest income recognized.
Recorded Investment in Past Due and Non-Accrual Status by Class of Loans | The following table presents the amortized cost basis of non-accrual loans with no related allowance for credit losses, total non-accrual loans, and loans pasts due for 90 days or greater which are still accruing, by class of loans, as of December 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
| 2023 |  | 2022 |  | 2023 |  | 2022 |  | 2023 |  | 2022
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 76 |  |  | $ | 1,035 |  |  | $ | 1,904 |  |  | $ | 1,946 |  |  | $ | 10 |  |  | $ | 1 |
Agricultural | — |  |  | — |  |  | 26 |  |  | — |  |  | — |  |  | — |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction | 2,209 |  |  | 5 |  |  | 2,209 |  |  | 5 |  |  | — |  |  | — |
Commercial mortgages | 3,732 |  |  | 3,890 |  |  | 3,760 |  |  | 3,928 |  |  | — |  |  | — |
Residential mortgages | 1,315 |  |  | 986 |  |  | 1,315 |  |  | 986 |  |  | — |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Credit cards | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Home equity lines and loans | 508 |  |  | 729 |  |  | 508 |  |  | 760 |  |  | — |  |  | — |
Indirect consumer loans | 687 |  |  | 540 |  |  | 687 |  |  | 540 |  |  | — |  |  | — |
Direct consumer loans | 2 |  |  | 13 |  |  | 2 |  |  | 13 |  |  | — |  |  | — |
Total | $ | 8,529 |  |  | $ | 7,198 |  |  | $ | 10,411 |  |  | $ | 8,178 |  |  | $ | 10 |  |  | $ | 1 |
The following tables present the aging of the amortized cost basis in loans as of December 31, 2023 and December 31, 2022 (in thousands):
| December 31, 2023
| 30 - 59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 89 Days Past Due |  | Total Past Due |  |  |  | Loans Not Past Due |  | Total
Commercial and agricultural: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | $ | 1,196 |  |  | $ | 31 |  |  | $ | 10 |  |  | $ | 1,237 |  |  |  |  | $ | 262,903 |  |  | $ | 264,140 |
Agricultural | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 256 |  |  | 256 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | 2,164 |  |  | — |  |  | 2,207 |  |  | 4,371 |  |  |  |  | 134,516 |  |  | 138,887 |
Commercial mortgages | 1,022 |  |  | 103 |  |  | 261 |  |  | 1,386 |  |  |  |  | 982,652 |  |  | 984,038 |
Residential mortgages | 2,244 |  |  | 201 |  |  | 585 |  |  | 3,030 |  |  |  |  | 274,962 |  |  | 277,992 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |
Home equity lines and loans | 461 |  |  | 87 |  |  | 366 |  |  | 914 |  |  |  |  | 86,142 |  |  | 87,056 |
Indirect consumer loans | 2,473 |  |  | 501 |  |  | 426 |  |  | 3,400 |  |  |  |  | 207,023 |  |  | 210,423 |
Direct consumer loans | 2 |  |  | 20 |  |  | — |  |  | 22 |  |  |  |  | 9,850 |  |  | 9,872 |
Total | $ | 9,562 |  |  | $ | 943 |  |  | $ | 3,855 |  |  | $ | 14,360 |  |  |  |  | $ | 1,958,304 |  |  | $ | 1,972,664 |
| December 31, 2022
| 30 - 59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 89 Days 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 | 1,058 |  |  | — |  |  | 486 |  |  | 1,544 |  |  |  |  | 887,126 |  |  | 888,670 |
Residential mortgages | 1,360 |  |  | 709 |  |  | 294 |  |  | 2,363 |  |  |  |  | 283,309 |  |  | 285,672 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | — |  |  | — |  |  | — |  |  | — |  |  |  |  | — |  |  | — |
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 |
Risk Category of Recorded Investment of Loans by Class of Loans | Based on the analyses performed as of December 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 | $ | 41,601 |  |  | $ | 35,768 |  |  | $ | 17,506 |  |  | $ | 10,195 |  |  | $ | 33,436 |  |  | $ | 7,746 |  |  | $ | 92,114 |  |  | $ | — |  |  | $ | 238,366 |
Special Mention | 185 |  |  | 2,103 |  |  | — |  |  | — |  |  | — |  |  | 432 |  |  | 9,730 |  |  | 10,672 |  |  | 23,122 |
Substandard | — |  |  | 24 |  |  | 991 |  |  | 109 |  |  | 23 |  |  | 456 |  |  | — |  |  | 161 |  |  | 1,764 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 790 |  |  | 75 |  |  | 23 |  |  | 888 |
Total | 41,786 |  |  | 37,895 |  |  | 18,497 |  |  | 10,304 |  |  | 33,459 |  |  | 9,424 |  |  | 101,919 |  |  | 10,856 |  |  | 264,140 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 272 |  |  | — |  |  | — |  |  | 281 |
Agricultural |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | 15 |  |  | 150 |  |  | — |  |  | — |  |  | — |  |  | 65 |  |  | — |  |  | 230 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 26 |  |  | 26 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | — |  |  | 15 |  |  | 150 |  |  | — |  |  | — |  |  | — |  |  | 65 |  |  | 26 |  |  | 256 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 11,275 |  |  | 1,445 |  |  | — |  |  | — |  |  | 28 |  |  | 1,178 |  |  | 122,752 |  |  | — |  |  | 136,678 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 2,207 |  |  | 2 |  |  | — |  |  | — |  |  | 2,209 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 11,275 |  |  | 1,445 |  |  | — |  |  | — |  |  | 2,235 |  |  | 1,180 |  |  | 122,752 |  |  | — |  |  | 138,887 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 91,636 |  |  | 207,277 |  |  | 123,040 |  |  | 90,635 |  |  | 39,175 |  |  | 168,878 |  |  | 233,999 |  |  | — |  |  | 954,640 |
Special Mention | — |  |  | 2,533 |  |  | 8,189 |  |  | 2,609 |  |  | — |  |  | 3,216 |  |  | — |  |  | 5,426 |  |  | 21,973 |
Substandard | 272 |  |  | 1,107 |  |  | 345 |  |  | 1,022 |  |  | — |  |  | 4,143 |  |  | 97 |  |  | 412 |  |  | 7,398 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |  |  | — |  |  | — |  |  | 27 |
Total | 91,908 |  |  | 210,917 |  |  | 131,574 |  |  | 94,266 |  |  | 39,175 |  |  | 176,264 |  |  | 234,096 |  |  | 5,838 |  |  | 984,038 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 14,027 |  |  | 50,556 |  |  | 49,428 |  |  | 69,070 |  |  | 15,093 |  |  | 44,628 |  |  | 33,875 |  |  | — |  |  | 276,677 |
Substandard | — |  |  | 75 |  |  | 346 |  |  | — |  |  | 169 |  |  | 725 |  |  | — |  |  | — |  |  | 1,315 |
Total | 14,027 |  |  | 50,631 |  |  | 49,774 |  |  | 69,070 |  |  | 15,262 |  |  | 45,353 |  |  | 33,875 |  |  | — |  |  | 277,992 |
Gross charge offs | — |  |  | 32 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 32 |
Home equity lines and loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 13,743 |  |  | 16,621 |  |  | 5,797 |  |  | 3,110 |  |  | 2,845 |  |  | 10,342 |  |  | 34,090 |  |  | — |  |  | 86,548 |
Substandard | — |  |  | 77 |  |  | — |  |  | — |  |  | — |  | (1) |  | 293 |  |  | 25 |  |  | 113 |  |  | 508 |
Total | 13,743 |  |  | 16,698 |  |  | 5,797 |  |  | 3,110 |  |  | 2,845 |  |  | 10,635 |  |  | 34,115 |  |  | 113 |  |  | 87,056 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6 |  |  | — |  |  | 6 |
Indirect consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 72,264 |  |  | 98,008 |  |  | 23,015 |  |  | 9,192 |  |  | 3,870 |  |  | 3,387 |  |  | — |  |  | — |  |  | 209,736 |
Substandard | 119 |  |  | 246 |  |  | 135 |  |  | 48 |  |  | 36 |  |  | 103 |  |  | — |  |  | — |  |  | 687 |
Total | 72,383 |  |  | 98,254 |  |  | 23,150 |  |  | 9,240 |  |  | 3,906 |  |  | 3,490 |  |  | — |  |  | — |  |  | 210,423 |
Gross charge offs | 184 |  |  | 375 |  |  | 215 |  |  | 121 |  |  | 21 |  |  | 55 |  |  | — |  |  | — |  |  | 971 |
Direct consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 3,005 |  |  | 2,745 |  |  | 785 |  |  | 256 |  |  | 53 |  |  | 357 |  |  | 2,669 |  |  | — |  |  | 9,870 |
Substandard | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total | 3,005 |  |  | 2,745 |  |  | 785 |  |  | 258 |  |  | 53 |  |  | 357 |  |  | 2,669 |  |  | — |  |  | 9,872 |
Gross charge offs | 4 |  |  | 15 |  |  | 8 |  |  | 6 |  |  | — |  |  | 54 |  |  | 6 |  |  | — |  |  | 93 |
| — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total loans | $ | 248,127 |  |  | $ | 418,600 |  |  | $ | 229,727 |  |  | $ | 186,248 |  |  | $ | 96,935 |  |  | $ | 246,703 |  |  | $ | 529,491 |  |  | $ | 16,833 |  |  | $ | 1,972,664 |
Total Gross charge-offs | $ | 188 |  |  | $ | 422 |  |  | $ | 223 |  |  | $ | 127 |  |  | $ | 30 |  |  | $ | 381 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 1,383 |
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 |  |  |  |  |  |  |  |  |  |  |  |  |
Credit cards | — |  |  | — |  |  |  |  | — |  |  | — |  |  | — |  |  | — |
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 |
Recorded Investment in Residential and Consumer Loans Based on Payment Activity | For residential and consumer loan classes, the Corporation evaluated credit quality based on the aging status of the loan, which was presented by payment activity. The following table presents the amortized cost basis in residential and consumer loans based on payment activity as of December 31, 2023 (in thousands):
| December 31, 2023
|  |  |  |  | Consumer Loans
| Residential Mortgages |  |  |  | Home Equity Lines and Loans |  | Indirect Consumer Loans |  | Other Direct Consumer Loans
Performing | $ | 276,677 |  |  |  |  | $ | 86,548 |  |  | $ | 209,736 |  |  | $ | 9,870 |
Non-Performing | 1,315 |  |  |  |  | 508 |  |  | 687 |  |  | 2 |
Total | $ | 277,992 |  |  |  |  | $ | 87,056 |  |  | $ | 210,423 |  |  | $ | 9,872 |
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 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):
| December 31, 2022
|  |  |  |  | Consumer Loans
| 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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