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Loans Receivable and Allowance for Credit Losses (Tables)

3 Months Ended

Mar. 31, 2025

Credit Loss [Abstract]

Schedule of Loans Receivable

As of March 31, 2025 and December 31, 2024, loans receivable, net, consisted of the following:

(In thousands)						March 31, 2025						December 31, 2024
Loan portfolio segment:
Commercial Real Estate						$	401,403					$	419,489
Residential Real Estate						90,753						92,215
Commercial and Industrial						122,375						129,608
Consumer and Other						53,498						59,973
Construction						3,823						3,830
Construction to Permanent - CRE						2,357						2,357
Loans receivable, gross						674,209						707,472
Allowance for credit losses						(6,729)						(7,305)
Loans receivable, net						$	667,480					$	700,167

Schedule of 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, 2025 and 2024:

(In thousands)			Commercial Real Estate						Residential Real Estate						Commercial and Industrial						Consumer and Other						Construction						Construction to Permanent - CRE												Total
Three Months Ended March 31, 2025
Allowance for credit losses:
December 31, 2024			$	2,241					$	596					$	1,077					$	3,386					$	5					$	—											$	7,305
Charge-offs			(635)						—						(119)						(916)						—						—												(1,670)
Recoveries			—						—						86						252						—						—												338
Provisions (credits)			669						43						124						(115)						3						32												756			(1)
March 31, 2025			$	2,275					$	639					$	1,168					$	2,607					$	8					$	32											$	6,729
Three Months Ended March 31, 2024
Allowance for credit losses:
December 31, 2023			$	6,089					$	607					$	1,269					$	7,843					$	4					$	113											$	15,925
Charge-offs			(158)						(21)						(410)						(2,523)						—						—												(3,112)
Recoveries			—						—						6						305						—						—												311
(Credit) provision			(311)						85						334						655						3						(113)												653			(2)
March 31, 2024			$	5,620					$	671					$	1,199					$	6,280					$	7					$	—											$	13,777

(1) The provision on credit losses included in the above table for the three months ended March 31, 2025 does not include the credit on unfunded loan commitments of $23,000.

(2) The provision on credit losses included in the above table for the three months ended March 31, 2024 does not include the provsion on unfunded loan commitments of $5,000.

The following table reflects information about the individually evaluated loans by segment as of March 31, 2025 and December 31, 2024:

(In thousands)			March 31, 2025																		December 31, 2024
			Recorded Investment						Principal Outstanding						Related Allowance						Recorded Investment						Principal Outstanding						Related Allowance
With no related allowance recorded:
Commercial Real Estate			$	17,106					$	33,372					$	—					$	18,361					$	34,224					$	—
Commercial and Industrial			2,922						7,428						—						1,831						2,251						—
Construction to permanent - CRE			—						—						—						2,357						2,476						—
			20,028						40,800						—						22,549						38,951						—
With a related allowance recorded:
Commercial Real Estate			6,602						6,725						278						974						969						403
Commercial and Industrial			—						—						—						1,492						1,810						60
Construction to permanent - CRE			2,357						2,476						32						—						—						—
			8,959						9,201						310						2,466						2,779						463
Individually evaluated loans, Total:
Commercial Real Estate			23,708						40,097						278						19,335						35,193						403
Commercial and Industrial			2,922						7,428						—						3,323						4,061						60
Construction to permanent - CRE			2,357						2,476						32						2,357						2,476						—
Total			$	28,987					$	50,001					$	310					$	25,015					$	41,730					$	463

The following table summarizes additional information regarding individually evaluated loans by segment for the three months ended March 31, 2025 and 2024:

			Three Month Ended March 31,
(In thousands)			2025												2024
			Average Recorded Investment						Interest Income Recognized						Average Recorded Investment						Interest Income Recognized
With no related allowance recorded:
Commercial Real Estate			$	17,696					$	18					$	6,286					$	37
Commercial and Industrial			3,070						—						2,855						44
Construction			—						—						442						—
Construction to permanent - CRE			—						—						2,464						—
			20,766						18						12,047						81
With a related allowance recorded:
Commercial Real Estate			6,688						—						9,781						—
Commercial and Industrial			—						—						1,005						—
Construction to permanent - CRE			2,357						—						—						—
			9,045						—						10,786						—
Individually evaluated loans, Total:
Commercial Real Estate			24,384						18						16,067						37
Commercial and Industrial			3,070						—						3,860						44
Construction			—						—						442						—
Construction to permanent - CRE			2,357						—						2,464						—
Total			$	29,811					$	18					$	22,833					$	81

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 March 31, 2025 and December 31, 2024:

(In thousands)			Commercial Real Estate						Residential Real Estate						Commercial and Industrial						Consumer and Other						Construction						Construction to  Permanent  - CRE												Total
March 31, 2025
Allowance for credit losses:
Individually evaluated loans			$	278					$	—					$	—					$	—					$	—					$	32											$	310
Collectively evaluated loans			1,997						639						1,168						2,607						8						—												6,419
Total allowance for credit losses			$	2,275					$	639					$	1,168					$	2,607					$	8					$	32											$	6,729
Loans receivable, gross:
Individually evaluated loans			$	23,708					$	—					$	2,922					$	—					$	—					$	2,357											$	28,987
Collectively evaluated loans			377,695						90,753						119,453						53,498						3,823						—												645,222
Total loans receivable, gross			$	401,403					$	90,753					$	122,375					$	53,498					$	3,823					$	2,357											$	674,209

(In thousands)			Commercial Real Estate						Residential Real Estate						Commercial and Industrial						Consumer and Other						Construction						Construction to Permanent - CRE												Total
December 31, 2024
Allowance for credit losses:
Individually evaluated loans			$	403					$	—					$	60					$	—					$	—					$	—											$	463
Collectively evaluated loans			1,838						596						1,017						3,386						5						—												6,842
Total allowance for credit losses			$	2,241					$	596					$	1,077					$	3,386					$	5					$	—											$	7,305
Loans receivable, gross:
Individually evaluated loans			$	19,335					$	—					$	3,323					$	—					$	—					$	2,357											$	25,015
Collectively evaluated loans			400,154						92,215						126,285						59,973						3,830						—												682,457
Total loans receivable, gross			$	419,489					$	92,215					$	129,608					$	59,973					$	3,830					$	2,357											$	707,472

Schedule of Financing Receivable Credit Quality Indicators

The following tables summarize loan amortized cost by vintage, credit quality indicator, class of loans and charge-offs based on year of origination as of March 31, 2025:

			Term of Loans by Origination
As of March 31, 2025:			2025						2024						2023						2022						2021						Prior						Revolving						Total Loans Receivable Gross
Loan portfolio segment:
Commercial Real Estate:
Pass			$	—					$	—					$	102,635					$	118,403					$	81,028					$	66,602					$	—					$	368,668
Special mention			—						—						3,679						1,999						—						1,236						—						6,914
Substandard			—						—						1,094						8,146						11,081						5,500						—						25,821
Total			—						—						107,408						128,548						92,109						73,338						—						401,403
Current period gross charge-offs			—						—						—						—						—						635						—						635
Residential Real Estate:
Pass			—						1,494						—						1,210						2,790						81,978						869						88,341
Special mention			—						—						—						—						—						2,412						—						2,412
Substandard			—						—						—						—						—						—						—						—
Total			—						1,494						—						1,210						2,790						84,390						869						90,753
Current period gross charge-offs			—						—						—						—						—						—						—						—
Commercial and Industrial:
Pass			—						815						2,402						12,815						19,480						6,911						64,708						107,131
Special mention			—						—						283						18						38						528						4,506						5,373
Substandard			—						—						223						367						842						6,148						2,291						9,871
Total			—						815						2,908						13,200						20,360						13,587						71,505						122,375
Current period gross charge-offs			—						—						—						—						—						119						—						119
Consumer and Other:
Pass			106						262						1,947						12,508						1,396						14,754						21,821						52,794
Substandard			—						—						40						241						46						5						372						704
Total			106						262						1,987						12,749						1,442						14,759						22,193						53,498
Current period gross charge-offs			—						9						802						105						—						—						—						916
Construction:
Pass			—						—						—						—						3,823						—						—						3,823
Total			—						—						—						—						3,823						—						—						3,823
Construction to Permanent - CRE:
Substandard			—						—						—						—						2,357						—						—						2,357
Total			—						—						—						—						2,357						—						—						2,357
Total loans			$	106					$	2,571					$	112,303					$	155,707					$	122,881					$	186,074					$	94,567					$	674,209
Total Current period gross charge-offs			$	—					$	9					$	802					$	105					$	—					$	754					$	—					$	1,670
Loans receivable, gross:
Pass			$	106					$	2,571					$	106,984					$	144,936					$	108,517					$	170,245					$	87,398					$	620,757
Special mention			—						—						3,962						2,017						38						4,176						4,506						14,699
Substandard			—						—						1,357						8,754						14,326						11,653						2,663						38,753
Total Loans receivable, gross			$	106					$	2,571					$	112,303					$	155,707					$	122,881					$	186,074					$	94,567					$	674,209
Total Current period gross charge-offs			$	—					$	9					$	802					$	105					$	—					$	754					$	—					$	1,670

The following tables summarize loan amortized cost by vintage, credit quality indicator, class of loans and charge-offs based on year of origination as of December 31, 2024:

			Term of Loans by Origination
As of December 31, 2024:			2023						2022						2021						2020						2019						Prior						Revolving						Total Loans Receivable Gross
Loan portfolio segment:
Commercial Real Estate:
Pass			$	—					$	102,906					$	130,143					$	88,275					$	2,085					$	69,858					$	—					$	393,267
Special mention			—						3,697						—						—						—						430						—						4,127
Substandard			—						1,099						6,691						8,615						233						5,457						—						22,095
Total			—						107,702						136,834						96,890						2,318						75,745						—						419,489
Current period gross charge-offs			—						—						—						—						—						13,889						—						13,889
Residential Real Estate:
Pass			372						—						1,218						2,811						9,546						74,937						792						89,676
Special mention			—						—						—						—						1,053						1,377						—						2,430
Substandard			—						—						—						—						—						109						—						109
Total			372						—						1,218						2,811						10,599						76,423						792						92,215
Current period gross charge-offs			—						—						—						—						—						21						—						21
Commercial and Industrial:
Pass			843						2,449						13,607						19,892						839						6,410						69,462						113,502
Special mention			—						289						18						39						—						573						7,389						8,308
Substandard			—						258						486						844						5,669						488						53						7,798
Total			843						2,996						14,111						20,775						6,508						7,471						76,904						129,608
Current period gross charge-offs			—						—						—						—						—						1,252						—						1,252
Consumer and Other:
Pass			290						2,514						15,907						1,846						—						15,305						23,381						59,243
Substandard			—						72						393						13						—						—						252						730
Total			290						2,586						16,300						1,859						—						15,305						23,633						59,973
Current period gross charge-offs			—						313						5,997						635						—						486						—						7,431
Construction:
Pass			—						—						—						3,830						—						—						—						3,830
Total			—						—						—						3,830						—						—						—						3,830
Construction to Permanent - CRE:
Substandard			—						—						—						2,357						—						—						—						2,357
Total			—						—						—						2,357						—						—						—						2,357
Total loans			$	1,505					$	113,284					$	168,463					$	128,522					$	19,425					$	174,944					$	101,329					$	707,472
Total Current period gross charge-offs			$	—					$	313					$	5,997					$	635					$	—					$	15,648					$	—					$	22,593
Loans receivable, gross:
Pass			$	1,505					$	107,869					$	160,875					$	116,654					$	12,470					$	166,510					$	93,635					$	659,518
Special mention			—						3,986						18						39						1,053						2,380						7,389						14,865
Substandard			—						1,429						7,570						11,829						5,902						6,054						305						33,089
Loans receivable, gross			$	1,505					$	113,284					$	168,463					$	128,522					$	19,425					$	174,944					$	101,329					$	707,472
Total Current period gross charge-offs			$	—					$	313					$	5,997					$	635					$	—					$	15,648					$	—					$	22,593

Schedule of 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, 2025:

(In thousands)						Performing (Accruing) Loans
As of March 31, 2025:						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						$	—					$	—					$	—					$	—					$	363,933					$	363,933					$	4,735					$	368,668
Special mention						—						—						—						—						6,914						6,914						—						6,914
Substandard						149						—						—						149						6,699						6,848						18,973						25,821
						149						—						—						149						377,546						377,695						23,708						401,403
Residential Real Estate:
Pass						823						—						—						823						87,518						88,341						—						88,341
Special mention						—						—						—						—						2,412						2,412						—						2,412
						823						—						—						823						89,930						90,753						—						90,753
Commercial and Industrial:
Pass						1,104						—						—						1,104						103,978						105,082						2,049						107,131
Special mention						—						—						—						—						5,373						5,373						—						5,373
Substandard						350						—						—						350						8,633						8,983						888						9,871
						1,454						—						—						1,454						117,984						119,438						2,937						122,375
Consumer and Other:
Pass						465						393						—						858						51,936						52,794						—						52,794
Substandard						—						—						—						—						—						—						704						704
						465						393						—						858						51,936						52,794						704						53,498
Construction:
Pass						—						—						—						—						3,823						3,823						—						3,823
						—						—						—						—						3,823						3,823						—						3,823
Construction to Permanent - CRE:
Substandard						—						—						—						—						—						—						2,357						2,357
						—						—						—						—						—						—						2,357						2,357
Total						$	2,891					$	393					$	—					$	3,284					$	641,219					$	644,503					$	29,706					$	674,209
Loans receivable, gross:
Pass						$	2,392					$	393					$	—					$	2,785					$	611,188					$	613,973					$	6,784					$	620,757
Special mention						—						—						—						—						14,699						14,699						—						14,699
Substandard						499						—						—						499						15,332						15,831						22,922						38,753
Loans receivable, gross						$	2,891					$	393					$	—					$	3,284					$	641,219					$	644,503					$	29,706					$	674,209

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, 2024:

(In thousands)						Performing (Accruing) Loans
As of December 31, 2024:						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						$	—					$	—					$	—					$	—					$	387,296					$	387,296					$	5,971					$	393,267
Special mention						—						—						—						—						4,127						4,127						—						4,127
Substandard						—						—						—						—						8,732						8,732						13,363						22,095
						—						—						—						—						400,155						400,155						19,334						419,489
Residential Real Estate:
Pass						838						—						—						838						88,838						89,676						—						89,676
						838						—						—						838						91,268						92,106						109						92,215
Commercial and Industrial:
Pass						1,107						—						—						1,107						110,046						111,153						2,349						113,502
Special mention						—						—						—						—						8,308						8,308						—						8,308
Substandard						350						—						—						350						6,456						6,806						992						7,798
						1,457						—						—						1,457						124,810						126,267						3,341						129,608
Consumer and Other:
Pass						602						687						—						1,289						57,954						59,243						—						59,243
Substandard						—						—						—						—						—						—						730						730
						602						687						—						1,289						57,954						59,243						730						59,973
Construction:
Pass						—						—						—						—						3,830						3,830						—						3,830
						—						—						—						—						3,830						3,830						—						3,830
Construction to Permanent - CRE:
Substandard						—						—						—						—						—						—						2,357						2,357
						—						—						—						—						—						—						2,357						2,357
Total						$	2,897					$	687					$	—					$	3,584					$	678,017					$	681,601					$	25,871					$	707,472
Loans receivable, gross:
Pass						$	2,547					$	687					$	—					$	3,234					$	647,964					$	651,198					$	8,320					$	659,518
Special mention						—						—						—						—						14,865						14,865						—						14,865
Substandard						350						—						—						350						15,188						15,538						17,551						33,089
Loans receivable, gross						$	2,897					$	687					$	—					$	3,584					$	678,017					$	681,601					$	25,871					$	707,472

Schedule of 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, 2025 and December 31, 2024:

(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, 2025:
Loan portfolio segment:
Commercial Real Estate:
Pass						$	—					$	1,510					$	3,225					$	4,735					$	—					$	4,735
Substandard						—						533						8,203						8,736						10,237						18,973
Commercial and Industrial:
Pass						—						909						1,140						2,049						—						2,049
Substandard						—						14						863						877						11						888
Consumer and Other:
Substandard						—						—						704						704						—						704
Construction to permanent - CRE:
Substandard						—						—						2,357						2,357						—						2,357
Total non-accruing loans						$	—					$	2,966					$	16,492					$	19,458					$	10,248					$	29,706
As of December 31, 2024:
Loan portfolio segment:
Commercial Real Estate:
Pass						$	—					$	—					$	4,461					$	4,461					$	1,510					$	5,971
Substandard						974						—						7,947						8,921						4,442						13,363
Residential Real Estate:
Substandard						—						—						109						109						—						109
Commercial and Industrial:
Pass						—						—						2,349						2,349						—						2,349
Substandard						2						—						978						980						12						992
Consumer and Other:
Substandard						—						6						724						730						—						730
Construction to permanent - CRE:
Substandard						—						—						2,357						2,357						—						2,357
Total non-accruing loans						$	976					$	6					$	18,925					$	19,907					$	5,964					$	25,871

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Tabular disclosure of allowance for credit loss on financing receivable.

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No definition available.

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- Definition

Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics.

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- Definition

Tabular disclosure of aging analysis for financing receivable.

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- Definition

Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.

+ References

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Tabular disclosure of financing receivable on nonaccrual status.

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