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Loans Receivable and Allowance for Credit Losses (Tables)
 3 Months Ended
Mar. 31, 2023
Credit Loss [Abstract]  
Schedule of Loans Receivable
As of March 31, 2023 and December 31, 2022, loans receivable, net, consisted of the following:
(In thousands)March 31, 2023December 31, 2022
Loan portfolio segment:
Commercial Real Estate$464,410 $437,443 
Residential Real Estate118,892 124,140 
Commercial and Industrial153,773 138,787 
Consumer and Other132,410 141,091 
Construction7,052 4,922 
Construction to Permanent - CRE2,232 1,933 
Loans receivable, gross878,769 848,316 
Allowance for credit losses(24,780)(10,310)
Loans receivable, net$853,989 $838,006 
Allowance for Credit Loss
The following tables summarize the activity in the allowance for credit losses, allocated to segments of the loan portfolio, for the three months ended March 31, 2023 and loan and lease losses for three months ended March 31, 2022:
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
Permanent
- CRE 		Unallocated Total
Three Months Ended March 31, 2023
Allowance for credit losses:
December 31, 2022$6,966 $665 $1,403 $1,207 $24 $10 $35 $10,310 
Impact of ASC 326 Adoption1,626 189 219 10,977 (4)29 (35)13,001 
Charge-offs— — (2)(1,796)— — — (1,798)
Recoveries— — 7 173 — — — 180 
Provisions (credits)1,217 (1)172 1,690 1 8 — 3,087 
March 31, 2023$9,809 $853 $1,799 $12,251 $21 $47 $— $24,780 
Three Months Ended March 31, 2022
Allowance for loan and lease losses:
December 31, 2021$5,063 $1,700 $2,532 $253 $78 $41 $238 $9,905 
Charge-offs— — (68)(47)(70)— — (185)
Recoveries— 1 15 1 — — — 17 
Provisions (credits)(174)(189)381 112 48 (32)(146)— 
March 31, 2022$4,889 $1,512 $2,860 $319 $56 $9 $92 $9,737 
(1) The allowance and provision for the three months ended March 31, 2023 are not comparable to prior periods due to the adoption of CECL. The provision on credit losses for three months ended March 31, 2023 does not include the credit on unfunded commitments of $867,000 for the three months ended March 31, 2023.
Schedule of Individually Evaluated for Impairment
The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for impairment as of March 31, 2023:
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
 Permanent
 - CRE 		Unallocated Total
March 31, 2023
Allowance for loan and lease losses:
Individually evaluated for impairment$6,352 $29 $754 $— $— $— $— $7,135 
Collectively evaluated for impairment3,457 824 1,045 12,251 21 47 — 17,645 
Total allowance for loan and lease losses$9,809 $853 $1,799 $12,251 $21 $47 $— $24,780 
Loans receivable, gross:
Individually evaluated for impairment$11,368 $2,491 $7,559 $512 $2,317 $— $— $24,247 
Collectively evaluated for impairment453,042 116,401 146,214 131,898 4,735 2,232 — 854,522 
Total loans receivable, gross$464,410 $118,892 $153,773 $132,410 $7,052 $2,232 $— $878,769 
The following tables presents the balance in the allowance for loan and lease losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2022:
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
Permanent
- CRE 		Unallocated Total
December 31, 2022
Allowance for loan and lease losses:
Individually evaluated for impairment$5,430 $5 $608 $— $— $— $— $6,043 
Collectively evaluated for impairment1,536 660 795 1,207 24 10 35 4,267 
Total allowance for loan losses$6,966 $665 $1,403 $1,207 $24 $10 $35 $10,310 
Loans receivable, gross:
Individually evaluated for impairment$11,241 $2,508 $4,653 $514 $— $— $— $18,916 
Collectively evaluated for impairment426,202 121,632 134,134 140,577 4,922 1,933 — 829,400 
Total loans receivable, gross$437,443 $124,140 $138,787 $141,091 $4,922 $1,933 $— $848,316 
Financing Receivable Credit Quality Indicators
The following tables summarize loan amortized cost by vintage, credit quality indicator and class of loans based on year of origination:
Term of Loans by Origination
As of March 31, 2023:20232022202120202019PriorRevolvingTotal Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$32,600 $167,018 $129,918 $3,750 $30,339 $68,519 $— $432,144 
Special mention— — — — 10,933 4,941 — 15,874 
Substandard— — — — 10,981 5,411 — 16,392 
32,600 167,018 129,918 3,750 52,253 78,871 — 464,410 
Residential Real Estate:
Pass191 1,274 3,533 12,170 16,084 82,044 527 115,823 
Special mention— — — — — 617 — 617 
Substandard— — — — — 2,452 — 2,452 
191 1,274 3,533 12,170 16,084 85,113 527 118,892 
Commercial and Industrial:
Pass633 16,042 23,495 8,377 9,288 5,013 82,113 144,961 
Special mention— — — — 549 11 — 560 
Substandard— 732 969 432 4,401 1,306 412 8,252 
633 16,774 24,464 8,809 14,238 6,330 82,525 153,773 
Consumer and Other:
Pass4,999 62,902 8,460 — 6,186 15,490 34,302 132,339 
Substandard— — — — — 71 — 71 
4,999 62,902 8,460 — 6,186 15,561 34,302 132,410 
Construction:
Pass— — 4,225 — — — — 4,225 
Special mention— — — — 510 — — 510 
Substandard— — — 2,317 — — — 2,317 
— — 4,225 2,317 510 — — 7,052 
Construction to Permanent -CRE:
Pass— — 2,232 — — — — 2,232 
— — 2,232 — — — — 2,232 
Total$38,423 $247,968 $172,832 $27,046 $89,271 $185,875 $117,354 $878,769 
Loans receivable, gross:
Pass$38,423 $247,236 $171,863 $24,297 $61,897 $171,066 $— $116,942 $831,724 
Special mention— — — — 11,992 5,569 — — 17,561 
Substandard— 732 969 2,749 15,382 9,240 — 412 29,484 
Loans receivable, gross$38,423 $247,968 $172,832 $27,046 $89,271 $185,875 $117,354 $878,769 
Financing Receivable, Past Due
The following tables summarize performing and non-performing (i.e., non-accruing) loans receivable by portfolio segment, by aging category, by delinquency status as of March 31, 2023.
(In thousands)Performing (Accruing) Loans
As of March 31, 2023:30 - 59
Days
Past Due 		60 - 89
Days
Past Due 		90 Days
or
Greater
Past Due 		Total
Past Due 		Current Total
Performing
Loans 		Non-
accruing
Loans 		Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$4,387 $— $— $4,387 $427,757 $432,144 $— $432,144 
Special mention— — — — 15,874 15,874 — 15,874 
Substandard327 — — 327 4,698 5,025 11,367 16,392 
4,714 — — 4,714 448,329 453,043 11,367 464,410 
Residential Real Estate:
Pass174 — 329 503 115,320 115,823 — 115,823 
Special mention— — — — 617 617 — 617 
Substandard— — — — — — 2,452 2,452 
174 — 329 503 115,937 116,440 2,452 118,892 
Commercial and Industrial:
Pass372 — 1,318 1,690 143,271 144,961 — 144,961 
Special mention— — — — 560 560 — 560 
Substandard547 — — 547 120 667 7,585 8,252 
919 — 1,318 2,237 143,951 146,188 7,585 153,773 
Consumer and Other:
Pass1,126 899 1,745 3,770 128,569 132,339 — 132,339 
Substandard— — — — 23 23 48 71 
1,126 899 1,745 3,770 128,592 132,362 48 132,410 
Construction:
Pass— — — — 4,225 4,225 — 4,225 
Special mention— — — — 510 510 — 510 
Substandard— — — — — — 2,317 2,317 
— — — — 4,735 4,735 2,317 7,052 
Construction to Permanent -CRE:
Pass— — — — 2,232 2,232 — 2,232 
— — — — 2,232 2,232 — 2,232 
Total$6,933 $899 $3,392 $11,224 $843,776 $855,000 $23,769 $878,769 
Loans receivable, gross:
Pass$6,059 $899 $3,392 $10,350 $821,374 $831,724 $— $831,724 
Special mention— — — — 17,561 17,561 — 17,561 
Substandard874 — — 874 4,841 5,715 23,769 29,484 
Loans receivable, gross$6,933 $899 $3,392 $11,224 $843,776 $855,000 $23,769 $878,769 
The following tables summarize performing and non-performing loans (i.e., non-accruing) receivable by portfolio segment, by aging category, by delinquency status as of December 31, 2022.
(In thousands)Performing (Accruing) Loans
As of December 31, 2022:30 - 59 Days
Past Due 		60 - 89 Days
Past Due 		90 Days
or
Greater Past
Due 		Total
Past Due 		Current Total
Performing
Loans 		Non-accruing
Loans 		Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$— $— $— $— $401,313 $401,313 $— $401,313 
Special mention— — — — 24,559 24,559 — 24,559 
Substandard330 — — 330 — 330 11,241 11,571 
330 — — 330 425,872 426,202 11,241 437,443 
Residential Real Estate:
Pass330 — — 330 120,715 121,045 — 121,045 
Special mention— — — — 625 625 — 625 
Substandard— — — — — — 2,470 2,470 
330 — — 330 121,340 121,670 2,470 124,140 
Commercial and Industrial:
Pass2 — 230 232 131,092 131,324 — 131,324 
Special mention— — — — 597 597 — 597 
Substandard1,488 412 — 1,900 133 2,033 4,833 6,866 
1,490 412 230 2,132 131,822 133,954 4,833 138,787 
Consumer and Other:
Pass929 3,175 925 5,029 135,990 141,019 — 141,019 
Substandard— — — — 23 23 49 72 
929 3,175 925 5,029 136,013 141,042 49 141,091 
Construction:
Pass895 — — 895 3,503 4,398 — 4,398 
Special mention— — — — 524 524 — 524 
895 — — 895 4,027 4,922 — 4,922 
Construction to Permanent - CRE:
Pass— — — — 1,933 1,933 — 1,933 
— — — — 1,933 1,933 — 1,933 
Total$3,974 $3,587 $1,155 $8,716 $821,007 $829,723 $18,593 $848,316 
Loans receivable, gross:
Pass$2,156 $3,175 $1,155 $6,486 $794,546 $801,032 $— $801,032 
Special mention— — — — 26,305 26,305 — 26,305 
Substandard1,818 412 — 2,230 156 2,386 18,593 20,979 
Loans receivable, gross$3,974 $3,587 $1,155 $8,716 $821,007 $829,723 $18,593 $848,316 
Financing Receivable, Nonaccrual
The following tables summarize non-performing (i.e., non-accruing) loans by aging category and status, within the applicable loan portfolio segment as of March 31, 2023 and December 31, 2022:
(In thousands) Non-accruing Loans
 30 - 59
Days
Past Due 		60 - 89
Days
Past Due 		90 Days or
Greater Past
Due 		Total
Past Due 		Current Total
Non-accruing
Loans
As of March 31, 2023: 
Loan portfolio segment: 
Commercial Real Estate: 
Substandard $— $— $11,367 $11,367 $— $11,367 
Residential Real Estate: 
Substandard 641 — 1,795 2,436 16 2,452 
Commercial and Industrial: 
Substandard — 914 5,521 6,435 1,150 7,585 
Consumer and Other: 
Substandard — — 27 27 21 48 
Construction:
Substandard2,317 — — 2,317 — 2,317 
Total non-accruing loans $2,958 $914 $18,710 $22,582 $1,187 $23,769 
 
As of December 31, 2022: 
Loan portfolio segment: 
Commercial Real Estate: 
Substandard $— $— $11,241 $11,241 $— $11,241 
Residential Real Estate: 
Substandard 657 — 1,796 2,453 17 2,470 
Commercial and Industrial: 
Substandard 46 395 3,196 3,637 1,196 4,833 
Consumer and Other: 
Substandard — — 27 27 22 49 
Total non-accruing loans $703 $395 $16,260 $17,358 $1,235 $18,593 
Impaired Financing Receivables
The following table reflects information about the individually evaluated loans by class as of March 31, 2023 and December 31, 2022:
(In thousands) March 31, 2023December 31, 2022
 Recorded
Investment 		Principal
Outstanding 		Related
Allowance 		Recorded Investment Principal Outstanding Related Allowance
With no related allowance recorded: 
Commercial Real Estate $387 $430 $— $2,435 $2,428 $— 
Residential Real Estate 763 882 — 2,402 2,224 — 
Commercial and Industrial 2,524 4,801 — 1,939 2,424 — 
Consumer and Other 512 512 — 514 514 — 
Construction2,317 2,317 — — — — 
 6,503 8,942 — 7,290 7,590 — 
With a related allowance recorded: 
Commercial Real Estate $10,981 $10,968 $6,352 8,806 8,656 5,430 
Residential Real Estate 1,728 1,553 29 106 105 5 
Commercial and Industrial 5,035 5,241 754 2,714 2,863 608 
Consumer and Other — — — — — — 
 17,744 17,762 7,135 11,626 11,624 6,043 
 
Individually evaluated loans, Total: 
Commercial Real Estate 11,368 11,398 6,352 11,241 11,084 5,430 
Residential Real Estate 2,491 2,435 29 2,508 2,329 5 
Commercial and Industrial 7,559 10,042 754 4,653 5,287 608 
Consumer and Other 512 512 — 514 514 — 
Construction2,317 2,317 — — — — 
Total $24,247 $26,704 $7,135 $18,916 $19,214 $6,043 
The following table summarizes additional information regarding individually evaluated loans by class for the three months ended March 31, 2023 and 2022.
(In thousands)Three Months Ended March 31, 2023Three Months Ended March 31, 2022
Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized
With no related allowance recorded:
Commercial Real Estate$899 $— $6,806 $32 
Residential Real Estate1,179 3 2,840 8 
Commercial and Industrial2,402 82 621 4 
Consumer and Other513 9 522 4 
Construction1,738 — — — 
6,731 94 10,789 48 
With a related allowance recorded:
Commercial Real Estate10,405 154 8,873 25 
Residential Real Estate1,352 1 1,328 21 
Commercial and Industrial4,052 43 2,738 2 
Consumer and Other18 — 165 1 
15,827 198 13,104 49 
Individually evaluated loans, Total:
Commercial Real Estate11,304 154 15,679 57 
Residential Real Estate2,531 4 4,168 29 
Commercial and Industrial6,454 125 3,359 6 
Consumer and Other531 9 687 5 
Construction1,738 — — — 
Total$22,558 $292 $23,893 $97