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Loans Receivables and Allowance for Credit Losses (Tables) | 12 Months Ended
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Dec. 31, 2023
Credit Loss [Abstract] |
Schedule of Loans Receivable | As of December 31, 2023 and 2022, loans receivable, net, consisted of the following:
| December 31,
(In thousands) | 2023 |  | 2022
Loan portfolio segment: |  |  |
Commercial Real Estate | $ | 472,093 |  |  | $ | 437,443 |
Residential Real Estate | 106,783 |  |  | 124,140 |
Commercial and Industrial | 163,565 |  |  | 138,787 |
Consumer and Other | 99,688 |  |  | 141,091 |
Construction | 4,266 |  |  | 4,922 |
Construction to Permanent - CRE | 2,464 |  |  | 1,933 |
Loans receivable, gross | 848,859 |  |  | 848,316 |
Allowance for credit losses | (15,925) |  |  | (10,310) |
Loans receivable, net | $ | 832,934 |  |  | $ | 838,006 |
Allowance for Credit Loss | The following tables summarize the activity in the allowance for loan and lease losses, allocated to segments of the loan portfolio, for each year in the three-year period ended December 31, 2023:
(In thousands) | Commercial Real Estate |  | Residential Real Estate |  | Commercial and Industrial |  | Consumer and Other |  | Construction |  | Construction to Permanent - CRE |  | Unallocated |  | Total |
As of and for the year ended December 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 Adoption | 1,626 |  |  | 189 |  |  | 219 |  |  | 10,977 |  |  | (4) |  |  | 29 |  |  | (35) |  |  | 13,001 |  |
Charge-offs | (6,346) |  |  | (515) |  |  | (927) |  |  | (10,479) |  |  | (150) |  |  | — |  |  | — |  |  | (18,417) |  |
Recoveries | — |  |  | 14 |  |  | 34 |  |  | 1,080 |  |  | — |  |  | — |  |  | — |  |  | 1,128 |  |
Provisions | 3,843 |  |  | 254 |  |  | 540 |  |  | 5,058 |  |  | 134 |  |  | 74 |  |  | — |  |  | 9,903 |  | (1) |
December 31, 2023 | $ | 6,089 |  |  | $ | 607 |  |  | $ | 1,269 |  |  | $ | 7,843 |  |  | $ | 4 |  |  | $ | 113 |  |  | $ | — |  |  | $ | 15,925 |  |
As of and for the year ended December 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 | — |  |  | — |  |  | (70) |  |  | (1,690) |  |  | (68) |  |  | — |  |  | — |  |  | (1,828) |  |
Recoveries | 154 |  |  | 4 |  |  | 69 |  |  | 121 |  |  | — |  |  | — |  |  | — |  |  | 348 |  |
(Credits) provisions | 1,749 |  |  | (1,039) |  |  | (1,128) |  |  | 2,523 |  |  | 14 |  |  | (31) |  |  | (203) |  |  | 1,885 |  |
December 31, 2022 | $ | 6,966 |  |  | $ | 665 |  |  | $ | 1,403 |  |  | $ | 1,207 |  |  | $ | 24 |  |  | $ | 10 |  |  | $ | 35 |  |  | $ | 10,310 |  |
As of and for the year ended December 31, 2021 |
Allowance for loan and lease losses: |
December 31, 2020 | $ | 4,485 |  |  | $ | 1,379 |  |  | $ | 3,284 |  |  | $ | 295 |  |  | $ | 739 |  |  | $ | 162 |  |  | $ | 240 |  |  | $ | 10,584 |  |
Charge-offs | (51) |  |  | (3) |  |  | (212) |  |  | (23) |  |  | (69) |  |  | — |  |  | — |  |  | (358) |  |
Recoveries | — |  |  | 3 |  |  | 65 |  |  | 111 |  |  | — |  |  | — |  |  | — |  |  | 179 |  |
Provisions (credits) | 629 |  |  | 321 |  |  | (605) |  |  | (130) |  |  | (592) |  |  | (121) |  |  | (2) |  |  | (500) |  |
December 31, 2021 | $ | 5,063 |  |  | $ | 1,700 |  |  | $ | 2,532 |  |  | $ | 253 |  |  | $ | 78 |  |  | $ | 41 |  |  | $ | 238 |  |  | $ | 9,905 |  |
The allowance and provision for the year ended December 31, 2023 are not comparable to prior periods due to the adoption of CECL. (1) The provision on credit losses included in the above table for the year ended December 31, 2023 does not include the credit on unfunded loan commitments of $(2.5) million for the year ended December 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 allowance for credit losses as of December 31, 2023:
(In thousands) | Commercial Real Estate |  | Residential Real Estate |  | Commercial and Industrial |  | Consumer and Other |  | Construction |  | Construction to Permanent - CRE |  | Unallocated |  | Total
December 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Allowance for credit losses: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated loans | $ | 3,813 |  |  | $ | — |  |  | $ | 392 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 4,205 |
Collectively evaluated loans | 2,276 |  |  | 607 |  |  | 877 |  |  | 7,843 |  |  | 4 |  |  | 113 |  |  | — |  |  | 11,720 |
Total allowance for credit losses | $ | 6,089 |  |  | $ | 607 |  |  | $ | 1,269 |  |  | $ | 7,843 |  |  | $ | 4 |  |  | $ | 113 |  |  | $ | — |  |  | $ | 15,925 |
Loans receivable, gross: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Individually evaluated loans | $ | 12,775 |  |  | $ | — |  |  | $ | 3,904 |  |  | $ | — |  |  | $ | 454 |  |  | $ | — |  |  | $ | — |  |  | $ | 17,133 |
Collectively evaluated loans | 459,318 |  |  | 106,783 |  |  | 159,661 |  |  | 99,688 |  |  | 3,812 |  |  | 2,464 |  |  | — |  |  | 831,726 |
Total loans receivable, gross | $ | 472,093 |  |  | $ | 106,783 |  |  | $ | 163,565 |  |  | $ | 99,688 |  |  | $ | 4,266 |  |  | $ | 2,464 |  |  | $ | — |  |  | $ | 848,859 |
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 impairment | 1,536 |  |  | 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 impairment | 426,202 |  |  | 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 December 31, 2023: | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | Prior |  | Revolving |  | Total Loans Receivable Gross
Loan portfolio segment: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | $ | 104,683 |  |  | $ | 138,091 |  |  | $ | 111,308 |  |  | $ | 3,401 |  |  | $ | 31,832 |  |  | $ | 63,526 |  |  | $ | — |  |  | $ | 452,841 |
Special mention | — |  |  | 6,482 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 6,482 |
Substandard | — |  |  | 1,799 |  |  | — |  |  | 280 |  |  | 10,000 |  |  | 691 |  |  | — |  |  | 12,770 |
| 104,683 |  |  | 146,372 |  |  | 111,308 |  |  | 3,681 |  |  | 41,832 |  |  | 64,217 |  |  | — |  |  | 472,093 |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | 1,251 |  |  | 2,975 |  |  | 11,577 |  |  | 15,770 |  |  | 74,596 |  |  | 614 |  |  | 106,783 |
| — |  |  | 1,251 |  |  | 2,975 |  |  | 11,577 |  |  | 15,770 |  |  | 74,596 |  |  | 614 |  |  | 106,783 |
Commercial and Industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 2,696 |  |  | 13,916 |  |  | 23,099 |  |  | 8,004 |  |  | 9,578 |  |  | 7,024 |  |  | 96,431 |  |  | 160,748 |
Special mention | 6 |  |  | 348 |  |  | — |  |  | — |  |  | 37 |  |  | 11 |  |  | 104 |  |  | 506 |
Substandard | 16 |  |  | — |  |  | 801 |  |  | — |  |  | 401 |  |  | 1,093 |  |  | — |  |  | 2,311 |
| 2,718 |  |  | 14,264 |  |  | 23,900 |  |  | 8,004 |  |  | 10,016 |  |  | 8,128 |  |  | 96,535 |  |  | 163,565 |
Consumer and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 6,470 |  |  | 36,668 |  |  | 4,724 |  |  | — |  |  | 5,590 |  |  | 14,314 |  |  | 30,945 |  |  | 98,711 |
Substandard | 197 |  |  | 645 |  |  | 61 |  |  | — |  |  | — |  |  | — |  |  | 74 |  |  | 977 |
| 6,667 |  |  | 37,313 |  |  | 4,785 |  |  | — |  |  | 5,590 |  |  | 14,314 |  |  | 31,019 |  |  | 99,688 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | 3,812 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 3,812 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 454 |  |  | — |  |  | — |  |  | 454 |
| — |  |  | — |  |  | 3,812 |  |  | — |  |  | 454 |  |  | — |  |  | — |  |  | 4,266 |
Construction to Permanent - CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention | — |  |  | — |  |  | 2,464 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,464 |
| — |  |  | — |  |  | 2,464 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,464 |
Total | $ | 114,068 |  |  | $ | 199,200 |  |  | $ | 149,244 |  |  | $ | 23,262 |  |  | $ | 73,662 |  |  | $ | 161,255 |  |  | $ | 128,168 |  |  | $ | 848,859 |
Loans receivable, gross: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 113,849 |  |  | 189,926 |  |  | 145,918 |  |  | 22,982 |  |  | 62,770 |  |  | 159,460 |  |  | 127,990 |  |  | 822,895 |
Special mention | 6 |  |  | 6,830 |  |  | 2,464 |  |  | — |  |  | 37 |  |  | 11 |  |  | 104 |  |  | 9,452 |
Substandard | 213 |  |  | 2,444 |  |  | 862 |  |  | 280 |  |  | 10,855 |  |  | 1,784 |  |  | 74 |  |  | 16,512 |
Loans receivable, gross | $ | 114,068 |  |  | $ | 199,200 |  |  | $ | 149,244 |  |  | $ | 23,262 |  |  | $ | 73,662 |  |  | $ | 161,255 |  |  | $ | 128,168 |  |  | $ | 848,859 |
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 December 31, 2023.
(In thousands) | Performing (Accruing) Loans |  |  |  |
As of December 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 | $ | 2,274 |  |  | $ | 231 |  |  | $ | — |  |  | $ | 2,505 |  |  | $ | 448,707 |  |  | $ | 451,212 |  |  | $ | 1,629 |  |  | $ | 452,841 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | 6,482 |  |  | 6,482 |  |  | — |  |  | 6,482 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 1,624 |  |  | 1,624 |  |  | 11,146 |  |  | 12,770 |
| 2,274 |  |  | 231 |  |  | — |  |  | 2,505 |  |  | 456,813 |  |  | 459,318 |  |  | 12,775 |  |  | 472,093 |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,439 |  |  | — |  |  | — |  |  | 1,439 |  |  | 105,344 |  |  | 106,783 |  |  | — |  |  | 106,783 |
| 1,439 |  |  | — |  |  | — |  |  | 1,439 |  |  | 105,344 |  |  | 106,783 |  |  | — |  |  | 106,783 |
Commercial and Industrial: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 420 |  |  | 10 |  |  | — |  |  | 430 |  |  | 157,335 |  |  | 157,765 |  |  | 2,983 |  |  | 160,748 |
Special mention | — |  |  | 348 |  |  | — |  |  | 348 |  |  | 158 |  |  | 506 |  |  | — |  |  | 506 |
Substandard | 526 |  |  | — |  |  | — |  |  | 526 |  |  | 847 |  |  | 1,373 |  |  | 938 |  |  | 2,311 |
| 946 |  |  | 358 |  |  | — |  |  | 1,304 |  |  | 158,340 |  |  | 159,644 |  |  | 3,921 |  |  | 163,565 |
Consumer and Other: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 1,327 |  |  | 1,015 |  |  | 341 |  |  | 2,683 |  |  | 96,028 |  |  | 98,711 |  |  | — |  |  | 98,711 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 977 |  |  | 977 |
| 1,327 |  |  | 1,015 |  |  | 341 |  |  | 2,683 |  |  | 96,028 |  |  | 98,711 |  |  | 977 |  |  | 99,688 |
Construction: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | — |  |  | — |  |  | 3,812 |  |  | 3,812 |  |  | — |  |  | 3,812 |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 454 |  |  | 454 |
| — |  |  | — |  |  | — |  |  | — |  |  | 3,812 |  |  | 3,812 |  |  | 454 |  |  | 4,266 |
Construction to Permanent - CRE: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | 2,464 |  |  | 2,464 |  |  | — |  |  | 2,464 |
| — |  |  | — |  |  | — |  |  | — |  |  | 2,464 |  |  | 2,464 |  |  | — |  |  | 2,464 |
Total | $ | 5,986 |  |  | $ | 1,604 |  |  | $ | 341 |  |  | $ | 7,931 |  |  | $ | 822,801 |  |  | $ | 830,732 |  |  | $ | 18,127 |  |  | $ | 848,859 |
Loans receivable, gross: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 5,460 |  |  | 1,256 |  |  | 341 |  |  | 7,057 |  |  | 811,226 |  |  | 818,283 |  |  | 4,612 |  |  | 822,895 |
Special mention | — |  |  | 348 |  |  | — |  |  | 348 |  |  | 9,104 |  |  | 9,452 |  |  | — |  |  | 9,452 |
Substandard | 526 |  |  | — |  |  | — |  |  | 526 |  |  | 2,471 |  |  | 2,997 |  |  | 13,515 |  |  | 16,512 |
Loans receivable, gross | $ | 5,986 |  |  | $ | 1,604 |  |  | $ | 341 |  |  | $ | 7,931 |  |  | $ | 822,801 |  |  | $ | 830,732 |  |  | $ | 18,127 |  |  | $ | 848,859 |
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 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 |
Substandard | 330 |  |  | — |  |  | — |  |  | 330 |  |  | — |  |  | 330 |  |  | 11,241 |  |  | 11,571 |
| 330 |  |  | — |  |  | — |  |  | 330 |  |  | 425,872 |  |  | 426,202 |  |  | 11,241 |  |  | 437,443 |
Residential Real Estate: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 330 |  |  | — |  |  | — |  |  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 2 |  |  | — |  |  | 230 |  |  | 232 |  |  | 131,092 |  |  | 131,324 |  |  | — |  |  | 131,324 |
Special mention | — |  |  | — |  |  | — |  |  | — |  |  | 597 |  |  | 597 |  |  | — |  |  | 597 |
Substandard | 1,488 |  |  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 929 |  |  | 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: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Pass | 895 |  |  | — |  |  | — |  |  | 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 |
Substandard | 1,818 |  |  | 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 December 31, 2023 and 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 December 31, 2023: |  |  |  |  |  |  |  |  |  |  |
Loan portfolio segment: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate: |  |  |  |  |  |  |  |  |  |  |
Pass | $ | — |  |  | $ | — |  |  | $ | 1,629 |  |  | $ | 1,629 |  |  | $ | — |  |  | $ | 1,629 |
Substandard | — |  |  | 770 |  |  | 439 |  |  | 1,209 |  |  | 9,937 |  |  | 11,146 |
Commercial and Industrial: |  |  |  |  |  |  |  |  |  |  |
Pass | — |  |  | — |  |  | 2,054 |  |  | 2,054 |  |  | 929 |  |  | 2,983 |
Substandard | — |  |  | 371 |  |  | 535 |  |  | 906 |  |  | 32 |  |  | 938 |
Consumer and Other: |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | 16 |  |  | 887 |  |  | 903 |  |  | 74 |  |  | 977 |
Construction: |  |  |  |  |  |  |  |  |  |  |
Substandard | — |  |  | — |  |  | — |  |  | — |  |  | 454 |  |  | 454 |
Total non-accruing loans | $ | — |  |  | $ | 1,157 |  |  | $ | 5,544 |  |  | $ | 6,701 |  |  | $ | 11,426 |  |  | $ | 18,127 |
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 December 31, 2023 and 2022:
(In thousands) | December 31, 2023 |  | December 31, 2022
| Recorded Investment |  | Principal Outstanding |  | Related Allowance |  | Recorded Investment |  | Principal Outstanding |  | Related Allowance
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate | $ | 2,838 |  |  | $ | 5,879 |  |  | $ | — |  |  | $ | 2,435 |  |  | $ | 2,428 |  |  | $ | — |
Residential Real Estate | — |  |  | — |  |  | — |  |  | 2,402 |  |  | 2,224 |  |  | — |
Commercial and Industrial | 2,266 |  |  | 2,899 |  |  | — |  |  | 1,939 |  |  | 2,424 |  |  | — |
Consumer and Other | — |  |  | — |  |  | — |  |  | 514 |  |  | 514 |  |  | — |
Construction | 454 |  |  | 461 |  |  | — |  |  | — |  |  | — |  |  | — |
| 5,558 |  |  | 9,239 |  |  | — |  |  | 7,290 |  |  | 7,590 |  |  | — |
With a related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate | $ | 9,937 |  |  | $ | 10,137 |  |  | $ | 3,813 |  |  | $ | 8,806 |  |  | $ | 8,656 |  |  | $ | 5,430 |
Residential Real Estate | — |  |  | — |  |  | — |  |  | 106 |  |  | 105 |  |  | 5 |
Commercial and Industrial | 1,638 |  |  | 3,159 |  |  | 392 |  |  | 2,714 |  |  | 2,863 |  |  | 608 |
| 11,575 |  |  | 13,296 |  |  | 4,205 |  |  | 11,626 |  |  | 11,624 |  |  | 6,043 |
Individually evaluated loans, Total: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate | $ | 12,775 |  |  | $ | 16,016 |  |  | $ | 3,813 |  |  | $ | 11,241 |  |  | $ | 11,084 |  |  | $ | 5,430 |
Residential Real Estate | — |  |  | — |  |  | — |  |  | 2,508 |  |  | 2,329 |  |  | 5 |
Commercial and Industrial | 3,904 |  |  | 6,058 |  |  | 392 |  |  | 4,653 |  |  | 5,287 |  |  | 608 |
Consumer and Other | — |  |  | — |  |  | — |  |  | 514 |  |  | 514 |  |  | — |
Construction | 454 |  | — |  | 461 |  | — |  | — |  |  | — |  | — |  | — |  | — |  | — |
Total | $ | 17,133 |  |  | $ | 22,535 |  |  | $ | 4,205 |  |  | $ | 18,916 |  |  | $ | 19,214 |  |  | $ | 6,043 |
For each year in the three-year period ended December 31, 2023, the average recorded investment in and interest income recognized on impaired loans without and with a related allowance, by loan portfolio segment, was as follows:
| Year Ended December 31,
(In thousands) | 2023 |  | 2022 |  | 2021
| Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized |  | Average Recorded Investment |  | Interest Income Recognized
With no related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate | $ | 1,164 |  |  | $ | 181 |  |  | $ | 5,702 |  |  | $ | 87 |  |  | $ | 7,636 |  |  | $ | 103 |
Residential Real Estate | 534 |  |  | — |  |  | 2,925 |  |  | 35 |  |  | 4,014 |  |  | 51 |
Commercial and Industrial | 2,580 |  |  | 5 |  |  | 748 |  |  | 63 |  |  | 2,548 |  |  | 12 |
Consumer and Other | 158 |  |  | — |  |  | 464 |  |  | 23 |  |  | 702 |  |  | 16 |
Construction | 753 |  |  | 34 |  |  | — |  |  | — |  |  | — |  |  | — |
| 5,189 |  |  | 220 |  |  | 9,839 |  |  | 208 |  |  | 14,900 |  |  | 182 |
With a related allowance recorded: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate | $ | 12,957 |  |  | $ | 696 |  |  | $ | 8,307 |  |  | $ | 113 |  |  | $ | 8,869 |  |  | $ | 66 |
Residential Real Estate | 1,156 |  |  | — |  |  | 107 |  |  | 6 |  |  | 109 |  |  | 5 |
Commercial and Industrial | 3,359 |  |  | 214 |  |  | 3,348 |  |  | 28 |  |  | 2,234 |  |  | 126 |
| 17,472 |  |  | 910 |  |  | 11,762 |  |  | 147 |  |  | 11,212 |  |  | 197 |
Individually evaluated loans, Total: |  |  |  |  |  |  |  |  |  |  |
Commercial Real Estate | $ | 14,121 |  |  | $ | 877 |  |  | $ | 14,009 |  |  | $ | 200 |  |  | $ | 16,505 |  |  | $ | 169 |
Residential Real Estate | 1,690 |  |  | — |  |  | 3,032 |  |  | 41 |  |  | 4,123 |  |  | 56 |
Commercial and Industrial | 5,939 |  |  | 219 |  |  | 4,096 |  |  | 91 |  |  | 4,782 |  |  | 138 |
Consumer and Other | 158 |  |  | — |  |  | 464 |  |  | 23 |  |  | 702 |  |  | 16 |
Construction | 753 |  |  | 34 |  |  | — |  |  | — |  |  |  |  |
Total | $ | 22,661 |  |  | $ | 1,130 |  |  | $ | 21,601 |  |  | $ | 355 |  |  | $ | 26,112 |  |  | $ | 379 |

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