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LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables) | 12 Months Ended
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Dec. 31, 2024
Loans and Leases Receivable Disclosure [Abstract] |
Composition of Loan Portfolio by Type | The composition of the loan portfolio, net of deferred loan fees as of December 31, 2024 and 2023 is summarized as follows (in thousands):
| 2024 |  | 2023
Commercial and industrial | $ | 299,521 |  |  | $ | 264,396 |
Commercial mortgages: |  |  |
Construction | 94,943 |  |  | 138,887 |
Commercial mortgages, other | 1,122,061 |  |  | 984,038 |
Residential mortgages | 274,979 |  |  | 277,992 |
Consumer loans: |  |  |
Home equity lines and loans | 93,220 |  |  | 87,056 |
Indirect consumer loans | 178,118 |  |  | 210,423 |
Direct consumer loans | 8,577 |  |  | 9,872 |
Total loans, net of deferred loan fees | 2,071,419 |  |  | 1,972,664 |
Allowance for credit losses | (21,388) |  |  | (22,517) |
Loans, net of allowance for credit losses | $ | 2,050,031 |  |  | $ | 1,950,147 |
Allowance for Loan Losses by Portfolio Segment | The following tables present the activity in the allowance for credit losses by portfolio segment for the years ended December 31, 2024 and 2023 (in thousands):
| December 31, 2024
Allowance for credit losses | Commercial and Industrial |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  |  |  | Total
Beginning balance, January 1, 2024 | $ | 5,055 |  |  | $ | 12,026 |  |  | $ | 2,194 |  |  | $ | 3,242 |  |  |  |  | $ | 22,517 |
Charge Offs: | (302) |  |  | — |  |  | (21) |  |  | (1,550) |  |  |  |  | (1,873) |
Recoveries: | 128 |  |  | 4 |  |  | 62 |  |  | 519 |  |  |  |  | 713 |
Net (charge offs) recoveries | (174) |  |  | 4 |  |  | 41 |  |  | (1,031) |  |  |  |  | (1,160) |
Provision (1) | (361) |  |  | (816) |  |  | 24 |  |  | 1,184 |  |  |  |  | 31 |
Ending balance, December 31, 2024 | $ | 4,520 |  |  | $ | 11,214 |  |  | $ | 2,259 |  |  | $ | 3,395 |  |  |  |  | $ | 21,388 |
(1) Additional provision related to off-balance sheet exposure was a credit of $77 thousand for the year ended December 31, 2024.
| December 31, 2023
Allowance for credit losses | Commercial and Industrial |  | 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 recoveries (charge offs) | (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. The following table presents the activity in the allowance for credit losses on unfunded commitments for the years ended December 31, 2024 and 2023:
| For the Years Ended December 31,
Allowance for credit losses on unfunded commitments | 2024 |  | 2023
Beginning balance | $ | 919 |  |  | $ | — |
Impact of adoption of ASC-326 | — |  |  | 1,082 |
Provision for credit losses on unfunded commitments | (77) |  |  | (163) |
Ending balance | $ | 842 |  |  | $ | 919 |
The following table presents the provision for credit losses on loans and unfunded commitments for the years ended December 31, 2024 and 2023 (in thousands):
| For the Years Ended December 31,
Provision for credit losses | 2024 |  | 2023
Provision for credit losses on loans | $ | 31 |  |  | $ | 3,425 |
Provision for credit losses on unfunded commitments | (77) |  |  | (163) |
Total provision (credit) for credit losses | $ | (46) |  |  | $ | 3,262 |
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, 2024 and 2023 (in thousands):
| December 31, 2024
Allowance for credit losses | Commercial and Industrial |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Ending allowance balance attributable to loans: |  |  |  |  |  |  |  |  |
Individually analyzed | $ | 1,446 |  |  | $ | 106 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,552 |
Collectively analyzed | 3,074 |  |  | 11,108 |  |  | 2,259 |  |  | 3,395 |  |  | 19,836 |
Total ending allowance balance | $ | 4,520 |  |  | $ | 11,214 |  |  | $ | 2,259 |  |  | $ | 3,395 |  |  | $ | 21,388 |
| December 31, 2023
Allowance for credit losses | Commercial and Industrial |  | 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, 2024
Loans | Commercial and Industrial |  | Commercial Mortgages |  | Residential Mortgages |  | Consumer Loans |  | Total
Loans individually analyzed | $ | 1,512 |  |  | $ | 4,959 |  |  | $ | — |  |  | $ | — |  |  | $ | 6,471 |
Loans collectively analyzed | 298,009 |  |  | 1,212,045 |  |  | 274,979 |  |  | 279,915 |  |  | 2,064,948 |
Total ending loans balance | $ | 299,521 |  |  | $ | 1,217,004 |  |  | $ | 274,979 |  |  | $ | 279,915 |  |  | $ | 2,071,419 |
| December 31, 2023
Loans | Commercial and Industrial |  | 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 |
Financing Receivable, Modified | The following tables summarize the amortized cost basis of loans modified during the years ended December 31, 2024 and 2023 (in thousands):
| December 31, 2024
Loans modified under ASU 2022-02 | Principal Reduction |  | Interest Rate Reduction |  | Term Extension |  | Payment Delay |  | Combination |  | Total |  | (%) of Loan Class (1)
Commercial & industrial | $ | — |  |  | $ | — |  |  | $ | 384 |  |  | $ | — |  |  | $ | — |  |  | $ | 384 |  |  | 0.13 | %
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial mortgages, other | — |  |  | — |  |  | — |  |  | 376 |  |  | — |  |  | 376 |  |  | 0.03 | %
Residential mortgages | — |  |  | — |  |  | — |  |  | 440 |  |  | — |  |  | 440 |  |  | 0.16 | %
Total | $ | — |  |  | $ | — |  |  | $ | 384 |  |  | $ | 816 |  |  | $ | — |  |  | $ | 1,200 |  |  |
(1) Represents the amortized cost basis of loans modified during the period as a percentage of the period-end loan balances by class.
| 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 & industrial | $ | — |  |  | $ | — |  |  | $ | 1,011 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,011 |  |  | 0.38 | %
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  | — |  |  |
Commercial mortgages, other | — |  |  | — |  |  | 272 |  |  | 1,878 |  |  | — |  |  | 2,150 |  |  | 0.22 | %
Consumer loans: |  |  |  |  |  |  |  |  |  |  | — |  |  |
Home equity lines and loans | — |  |  | — |  |  | 116 |  |  | — |  |  | — |  |  | 116 |  |  | 0.13 | %
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 tables present the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023:
| December 31, 2024
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 & industrial | $— |  | —% |  | 60 months |  | 0 months
Commercial mortgages: |  |  |  |  |  |  |
Commercial mortgages, other | $— |  | —% |  | 0 months |  | 101 months
Residential mortgages | $— |  | —% |  | 0 months |  | 6 months
| December 31, 2023
| Principal Reduction (in thousands) |  | Weighted average interest rate reduction (%) |  | Weighted average term extension (in months) |  | Weighted average payment delay (in months)
Commercial & industrial | — |  | —% |  | 12 months |  | 0 months
Commercial mortgages: |  |  |  |  |  |  |
Commercial mortgages, other | — |  | —% |  | 60 months |  | 4 months
Consumer loans: |  |  |  |  |  |  |
Home equity lines and loans | — |  | —% |  | 180 months |  | 0 months
Schedule of Recorded Investment in Past Due and Non-Accrual Status by Class of Loans | The following tables present the performance of such loans that were modified in the twelve month periods preceding December 31, 2024 and 2023 (in thousands):
| Twelve Months Ended December 31, 2024
Past Due Status of Modifications under ASU 2022-02: | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 89 Days Past Due |  | Loans Not Past Due |  | Total
Commercial and industrial | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 384 |  |  | $ | 384 |
Commercial mortgages: |  |  |  |  |  |  |  |  |
Commercial mortgages, other | — |  |  | — |  |  | — |  |  | 376 |  |  | 376 |
Residential mortgages (1) | — |  |  | — |  |  | 440 |  |  | — |  |  | 440 |
Total | $ | — |  |  | $ | — |  |  | $ | 440 |  |  | $ | 760 |  |  | $ | 1,200 |
(1) The residential mortgage included in the above table was contractually past due as of December 31, 2024, but was otherwise performing on its modified terms.
| Twelve Months Ended December 31, 2023
Past Due Status of Modifications under ASU 2022-02: | 30-59 Days Past Due |  | 60-89 Days Past Due |  | Greater Than 89 Days Past Due |  | Loans Not Past Due |  | Total
Commercial and industrial | $ | 875 |  |  | $ | — |  |  | $ | — |  |  | $ | 136 |  |  | $ | 1,011 |
Commercial mortgages: |  |  |  |  |  |  |  |  |
Commercial mortgages, other | — |  |  | — |  |  | — |  |  | 2,150 |  |  | 2,150 |
Consumer loans: |  |  |  |  |  |  |  |  |
Home equity lines and loans | — |  |  | — |  |  | — |  |  | 116 |  |  | 116 |
Total | $ | 875 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,402 |  |  | $ | 3,277 |
The following table presents the amortized cost basis of nonaccrual loans with no related specific allocation in the allowance for credit losses, total nonaccrual loans, and loans pasts due 90 days or greater which were still accruing, by class of loans, as of December 31, 2024 and 2023 (in thousands):
| Nonaccrual with no allowance for credit losses |  | Nonaccrual |  | Loans Past Due 90 Days or More and Still Accruing
| 2024 |  | 2023 |  | 2024 |  | 2023 |  | 2024 |  | 2023
Commercial and industrial | $ | 76 |  |  | $ | 76 |  |  | $ | 1,534 |  |  | $ | 1,930 |  |  | $ | 23 |  |  | $ | 10 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | 2,209 |  |  | — |  |  | 2,209 |  |  | — |  |  | — |
Commercial mortgages | 3,981 |  |  | 3,732 |  |  | 4,959 |  |  | 3,760 |  |  | — |  |  | — |
Residential mortgages | 1,372 |  |  | 1,315 |  |  | 1,372 |  |  | 1,315 |  |  | — |  |  | — |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 613 |  |  | 508 |  |  | 613 |  |  | 508 |  |  | — |  |  | — |
Indirect consumer loans | 474 |  |  | 687 |  |  | 474 |  |  | 687 |  |  | — |  |  | — |
Direct consumer loans | 2 |  |  | 2 |  |  | 2 |  |  | 2 |  |  | — |  |  | — |
Total | $ | 6,518 |  |  | $ | 8,529 |  |  | $ | 8,954 |  |  | $ | 10,411 |  |  | $ | 23 |  |  | $ | 10 |
The following tables present the aging of the amortized cost basis in loans as of December 31, 2024 and 2023 (in thousands):
| December 31, 2024
| 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 industrial | $ | 140 |  |  | $ | 201 |  |  | $ | 702 |  |  | $ | 1,043 |  |  |  |  | $ | 298,478 |  |  | $ | 299,521 |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  |  |  | 94,943 |  |  | 94,943 |
Commercial mortgages | 1,032 |  |  | — |  |  | 3,258 |  |  | 4,290 |  |  |  |  | 1,117,771 |  |  | 1,122,061 |
Residential mortgages | 1,529 |  |  | 662 |  |  | 696 |  |  | 2,887 |  |  |  |  | 272,092 |  |  | 274,979 |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | 231 |  |  | — |  |  | 364 |  |  | 595 |  |  |  |  | 92,625 |  |  | 93,220 |
Indirect consumer loans | 2,101 |  |  | 719 |  |  | 235 |  |  | 3,055 |  |  |  |  | 175,063 |  |  | 178,118 |
Direct consumer loans | 14 |  |  | 6 |  |  | 1 |  |  | 21 |  |  |  |  | 8,556 |  |  | 8,577 |
Total | $ | 5,047 |  |  | $ | 1,588 |  |  | $ | 5,256 |  |  | $ | 11,891 |  |  |  |  | $ | 2,059,528 |  |  | $ | 2,071,419 |
| 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 industrial | $ | 1,196 |  |  | $ | 31 |  |  | $ | 10 |  |  | $ | 1,237 |  |  |  |  | $ | 263,159 |  |  | $ | 264,396 |
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: |  |  |  |  |  |  |  |  |  |  |  |  |
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 |
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, 2024 and 2023 (in thousands):
| December 31, 2024 |  | December 31, 2023 |  |
| Amortized Cost Basis |  | Related Allowance |  | Amortized Cost Basis |  | Related Allowance |  |  |  |
Commercial and industrial: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial (1) (2) | $ | 130 |  |  | $ | 65 |  |  | $ | 379 |  |  | $ | 240 |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction (1) | — |  |  | — |  |  | 2,209 |  |  | — |  |  |  |  |
Commercial mortgages, other (1) (2) (3) | 4,959 |  |  | 106 |  |  | 3,759 |  |  | 27 |  |  |  |  |
Total | $ | 5,089 |  |  | $ | 171 |  |  | $ | 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 table presents the average amortized basis in and interest income recognized on loans individually analyzed, by class, as of December 31, 2024 and 2023 (in thousands):
| December 31, 2024 |  | December 31, 2023 |  |
With no related allowance recorded: | Average Amortized Cost Basis |  | Interest Income Recognized (1) |  | Average Amortized Cost Basis |  | Interest Income Recognized (1) |  |  |  |
Commercial and industrial | $ | 102 |  |  | $ | 4 |  |  | $ | 431 |  |  | $ | — |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction | 1,753 |  |  | — |  |  | 443 |  |  | 103 |  |  |  |  |
Commercial mortgages | 2,876 |  |  | — |  |  | 3,988 |  |  | 5 |  |  |  |  |
Residential mortgages | — |  |  | — |  |  | 288 |  |  | — |  |  |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity lines & loans | — |  |  | — |  |  | 99 |  |  | — |  |  |  |  |
With an allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial and industrial | 1,797 |  |  | 8 |  |  | 1,339 |  |  | 55 |  |  |  |  |
Commercial mortgages: |  |  |  |  |  |  |  |  |  |  |
Construction | — |  |  | — |  |  | — |  |  | — |  |  |  |  |
Commercial mortgages | 379 |  |  | — |  |  | 33 |  |  | — |  |  |  |  |
Consumer loans: |  |  |  |  |  |  |  |  |  |  |
Home equity lines and loans | — |  |  | — |  |  | 25 |  |  | — |  |  |  |  |
Total | $ | 6,907 |  |  | $ | 12 |  |  | $ | 6,646 |  |  | $ | 163 |  |  |  |  |
(1) Cash basis interest income approximates interest income recognized.
Risk Category of Recorded Investment of Loans by Class of Loans | Based on the analyses performed as of December 31, 2024, 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
| 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | Prior |  |  |
Commercial & Industrial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 44,130 |  |  | $ | 32,157 |  |  | $ | 34,862 |  |  | $ | 16,787 |  |  | $ | 8,326 |  |  | $ | 27,452 |  |  | $ | 108,819 |  |  | $ | 1,380 |  |  | $ | 273,913 |
Special Mention | 810 |  |  | 262 |  |  | 3,933 |  |  | — |  |  | 4,390 |  |  | 3,673 |  |  | 10,203 |  |  | 62 |  |  | 23,333 |
Substandard | 99 |  |  | — |  |  | 8 |  |  | 733 |  |  | 30 |  |  | — |  |  | 379 |  |  | 318 |  |  | 1,567 |
Doubtful | 21 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 687 |  |  | — |  |  | — |  |  | 708 |
Total | 45,060 |  |  | 32,419 |  |  | 38,803 |  |  | 17,520 |  |  | 12,746 |  |  | 31,812 |  |  | 119,401 |  |  | 1,760 |  |  | 299,521 |
Gross charge offs | — |  |  | 84 |  |  | 200 |  |  | 6 |  |  | — |  |  | — |  |  | 12 |  |  | — |  |  | 302 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 19,344 |  |  | 46,954 |  |  | 17,568 |  |  | 9,058 |  |  | — |  |  | 1,536 |  |  | 483 |  |  | — |  |  | 94,943 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 19,344 |  |  | 46,954 |  |  | 17,568 |  |  | 9,058 |  |  | — |  |  | 1,536 |  |  | 483 |  |  | — |  |  | 94,943 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 120,351 |  |  | 132,539 |  |  | 294,225 |  |  | 162,843 |  |  | 107,341 |  |  | 264,306 |  |  | 6,793 |  |  | 832 |  |  | 1,089,230 |
Special Mention | — |  |  | 370 |  |  | 5,935 |  |  | 7,902 |  |  | — |  |  | 10,039 |  |  | 2,000 |  |  | — |  |  | 26,246 |
Substandard | — |  |  | 2,244 |  |  | 1,009 |  |  | 321 |  |  | 1,014 |  |  | 1,982 |  |  | — |  |  | — |  |  | 6,570 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 15 |  |  | — |  |  | — |  |  | 15 |
Total | 120,351 |  |  | 135,153 |  |  | 301,169 |  |  | 171,066 |  |  | 108,355 |  |  | 276,342 |  |  | 8,793 |  |  | 832 |  |  | 1,122,061 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 21,574 |  |  | 20,257 |  |  | 55,321 |  |  | 55,152 |  |  | 64,471 |  |  | 56,708 |  |  | — |  |  | — |  |  | 273,483 |
Substandard | — |  |  | — |  |  | 85 |  |  | 771 |  |  | 220 |  |  | 420 |  |  | — |  |  | — |  |  | 1,496 |
Total | 21,574 |  |  | 20,257 |  |  | 55,406 |  |  | 55,923 |  |  | 64,691 |  |  | 57,128 |  |  | — |  |  | — |  |  | 274,979 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 21 |  |  | — |  |  | — |  |  | 21 |
Home equity lines and loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 13,833 |  |  | 10,657 |  |  | 14,094 |  |  | 4,879 |  |  | 2,503 |  |  | 10,259 |  |  | 35,015 |  |  | 1,252 |  |  | 92,492 |
Special Mention | — |  |  | — |  |  | 115 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 115 |
Substandard | — |  |  | 24 |  |  | 63 |  |  | — |  |  | — |  |  | 195 |  |  | 116 |  |  | 215 |  |  | 613 |
Total | 13,833 |  |  | 10,681 |  |  | 14,272 |  |  | 4,879 |  |  | 2,503 |  |  | 10,454 |  |  | 35,131 |  |  | 1,467 |  |  | 93,220 |
Gross charge offs | — |  |  | — |  |  | 1 |  |  | — |  |  | — |  |  | 11 |  |  | 1 |  |  | — |  |  | 13 |
Indirect consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 37,746 |  |  | 52,480 |  |  | 67,237 |  |  | 13,266 |  |  | 4,194 |  |  | 2,726 |  |  | — |  |  | — |  |  | 177,649 |
Substandard | 75 |  |  | 157 |  |  | 107 |  |  | 79 |  |  | 11 |  |  | 40 |  |  | — |  |  | — |  |  | 469 |
Total | 37,821 |  |  | 52,637 |  |  | 67,344 |  |  | 13,345 |  |  | 4,205 |  |  | 2,766 |  |  | — |  |  | — |  |  | 178,118 |
Gross charge offs | 47 |  |  | 517 |  |  | 525 |  |  | 161 |  |  | 99 |  |  | 116 |  |  | — |  |  | — |  |  | 1,465 |
Direct consumer |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 2,420 |  |  | 1,681 |  |  | 1,454 |  |  | 275 |  |  | 41 |  |  | 225 |  |  | 2,455 |  |  | 14 |  |  | 8,565 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 10 |  |  | 2 |  |  | 12 |
Total | 2,420 |  |  | 1,681 |  |  | 1,454 |  |  | 275 |  |  | 41 |  |  | 225 |  |  | 2,465 |  |  | 16 |  |  | 8,577 |
Gross charge offs | 5 |  |  | 21 |  |  | 20 |  |  | 14 |  |  | — |  |  | 4 |  |  | 8 |  |  | — |  |  | 72 |
| — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total loans | $ | 260,403 |  |  | $ | 299,782 |  |  | $ | 496,016 |  |  | $ | 272,066 |  |  | $ | 192,541 |  |  | $ | 380,263 |  |  | $ | 166,273 |  |  | $ | 4,075 |  |  | $ | 2,071,419 |
Total Gross charge-offs | $ | 52 |  |  | $ | 622 |  |  | $ | 746 |  |  | $ | 181 |  |  | $ | 99 |  |  | $ | 152 |  |  | $ | 21 |  |  | $ | — |  |  | $ | 1,873 |
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 | $ | 41,925 |  |  | $ | 40,579 |  |  | $ | 21,892 |  |  | $ | 13,541 |  |  | $ | 31,233 |  |  | $ | 10,523 |  |  | $ | 77,241 |  |  | $ | 1,662 |  |  | $ | 238,596 |
Special Mention | 185 |  |  | 4,608 |  |  | — |  |  | 4,020 |  |  | — |  |  | 4,690 |  |  | 9,137 |  |  | 482 |  |  | 23,122 |
Substandard | — |  |  | 24 |  |  | 991 |  |  | 109 |  |  | 23 |  |  | 456 |  |  | — |  |  | 161 |  |  | 1,764 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 790 |  |  | 75 |  |  | 49 |  |  | 914 |
Total | 42,110 |  |  | 45,211 |  |  | 22,883 |  |  | 17,670 |  |  | 31,256 |  |  | 16,459 |  |  | 86,453 |  |  | 2,354 |  |  | 264,396 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | 9 |  |  | 272 |  |  | — |  |  | — |  |  | 281 |
Construction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 46,951 |  |  | 68,483 |  |  | 19,066 |  |  | — |  |  | 28 |  |  | 1,669 |  |  | 481 |  |  | — |  |  | 136,678 |
Special Mention | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 2,207 |  |  | 2 |  |  | — |  |  | — |  |  | 2,209 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Total | 46,951 |  |  | 68,483 |  |  | 19,066 |  |  | — |  |  | 2,235 |  |  | 1,671 |  |  | 481 |  |  | — |  |  | 138,887 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Commercial mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 110,864 |  |  | 260,763 |  |  | 161,858 |  |  | 113,198 |  |  | 57,782 |  |  | 244,211 |  |  | 5,197 |  |  | 767 |  |  | 954,640 |
Special Mention | — |  |  | 2,533 |  |  | 8,189 |  |  | 2,609 |  |  | — |  |  | 8,642 |  |  | — |  |  | — |  |  | 21,973 |
Substandard | 272 |  |  | 1,107 |  |  | 345 |  |  | 1,022 |  |  | — |  |  | 4,555 |  |  | 97 |  |  | — |  |  | 7,398 |
Doubtful | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 27 |  |  | — |  |  | — |  |  | 27 |
Total | 111,136 |  |  | 264,403 |  |  | 170,392 |  |  | 116,829 |  |  | 57,782 |  |  | 257,435 |  |  | 5,294 |  |  | 767 |  |  | 984,038 |
Gross charge offs | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Residential mortgages |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 18,653 |  |  | 58,098 |  |  | 60,024 |  |  | 71,369 |  |  | 15,948 |  |  | 52,585 |  |  | — |  |  | — |  |  | 276,677 |
Substandard | — |  |  | 75 |  |  | 346 |  |  | — |  |  | 169 |  |  | 725 |  |  | — |  |  | — |  |  | 1,315 |
Total | 18,653 |  |  | 58,173 |  |  | 60,370 |  |  | 71,369 |  |  | 16,117 |  |  | 53,310 |  |  | — |  |  | — |  |  | 277,992 |
Gross charge offs | — |  |  | 32 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 32 |
Home equity lines and loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Not rated | 13,552 |  |  | 16,384 |  |  | 5,821 |  |  | 3,134 |  |  | 2,867 |  |  | 10,400 |  |  | 33,275 |  |  | 1,115 |  |  | 86,548 |
Substandard | — |  |  | 77 |  |  | — |  |  | — |  |  | — |  |  | 293 |  |  | 25 |  |  | 113 |  |  | 508 |
Total | 13,552 |  |  | 16,461 |  |  | 5,821 |  |  | 3,134 |  |  | 2,867 |  |  | 10,693 |  |  | 33,300 |  |  | 1,228 |  |  | 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 |  |  | 324 |  |  | 2,697 |  |  | 5 |  |  | 9,870 |
Substandard | — |  |  | — |  |  | — |  |  | 2 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2 |
Total | 3,005 |  |  | 2,745 |  |  | 785 |  |  | 258 |  |  | 53 |  |  | 324 |  |  | 2,697 |  |  | 5 |  |  | 9,872 |
Gross charge offs | 4 |  |  | 15 |  |  | 8 |  |  | 6 |  |  | — |  |  | 54 |  |  | 6 |  |  | — |  |  | 93 |
| — |  |  |  |  |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  |
Total loans | $ | 307,790 |  |  | $ | 553,730 |  |  | $ | 302,467 |  |  | $ | 218,500 |  |  | $ | 114,216 |  |  | $ | 343,382 |  |  | $ | 128,225 |  |  | $ | 4,354 |  |  | $ | 1,972,664 |
Total Gross charge-offs | $ | 188 |  |  | $ | 422 |  |  | $ | 223 |  |  | $ | 127 |  |  | $ | 30 |  |  | $ | 381 |  |  | $ | 12 |  |  | $ | — |  |  | $ | 1,383 |

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