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Loans Receivable and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2025
Credit Loss [Abstract]  
Schedule of Loans Receivable
As of September 30, 2025 and December 31, 2024, loans receivable, net, consisted of the following:
(In thousands)September 30, 2025December 31, 2024
Loan portfolio segment:
Commercial Real Estate$360,802 $419,489 
Residential Real Estate83,672 92,215 
Commercial and Industrial123,359 129,608 
Consumer and Other20,802 59,973 
Construction— 3,830 
Construction to Permanent - CRE31 2,357 
Loans receivable, gross588,666 707,472 
Allowance for credit losses(7,187)(7,305)
Loans receivable, net$581,479 $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 September 30, 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 September 30, 2025
Allowance for credit losses:
June 30, 2025$2,436 $519 $1,785 $3,050 $5 $— $7,795 
Charge-offs(144)— — (292)— — (436)
Recoveries— 1 3 227 — — 231 
Provisions (credits)212 285 1,642 (2,537)(5)— (403)(1)
September 30, 2025$2,504 $805 $3,430 $448 $— $— $7,187 
Three Months Ended September 30, 2024
Allowance for credit losses:
June 30, 2024$7,958 $678 $1,215 $5,133 $5 $— $14,989 
Charge-offs(124)— (122)(1,266)— — (1,512)
Recoveries— — 160 263 — — 423 
Provisions (credits)1,211 (70)(197)143 (3)— 1,084 (2)
September 30, 2024$9,045 $608 $1,056 $4,273 $2 $— $14,984 
(1) The provision on credit losses included in the above table for the three months ended September 30, 2025 does not include the credit on unfunded loan commitments of $27,000.
(2) The provision on credit losses included in the above table for the three months ended September 30, 2024 does not include the credit on unfunded loan commitments of $58,000.
The following tables summarize the activity in the allowance for credit losses, allocated to segments of the loan portfolio, for the nine months ended September 30, 2025 and 2024:
(In thousands)Commercial
Real Estate 		Residential Real Estate Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction
to
Permanent
- CRE 		Total
Nine Months Ended September 30, 2025      
Allowance for credit losses:      
December 31, 2024$2,241 $596 $1,077 $3,386 $5 $— $7,305 
Charge-offs(779)— (130)(1,962)— — (2,871)
Recoveries— 1 109 688 — — 798 
Provisions (credits)1,042 208 2,374 (1,664)(5)— 1,955 (3)
September 30, 2025$2,504 $805 $3,430 $448 $— $— $7,187 
Nine Months Ended September 30, 2024
Allowance for credit losses:
December 31, 2023$6,089 $607 $1,269 $7,843 $4 $113 $15,925 
Charge-offs(282)(21)(936)(5,638)— — (6,877)
Recoveries— — 238 828 — — 1,066 
Provisions (credits)3,238 22 485 1,240 (2)(113)4,870 (4)
September 30, 2024$9,045 $608 $1,056 $4,273 $2 $— $14,984 
(3) The provision on credit losses for the nine months ended September 30, 2025 does not include the credit on unfunded loan commitments of $128,000.
(4) The provision on credit losses for the nine months ended September 30, 2024 does not include the credit on unfunded loan commitments of $94,000.
The following table reflects information about the individually evaluated loans by segment as of September 30, 2025 and December 31, 2024:
(In thousands)September 30, 2025December 31, 2024
Recorded
Investment 		Principal
Outstanding 		Related
Allowance 		Recorded Investment Principal Outstanding Related Allowance
With no related allowance recorded:
Commercial Real Estate$19,891 $36,424 $— $18,361 $34,224 $— 
Residential Real Estate57 58 — — — — 
Commercial and Industrial1,934 2,370 — 1,831 2,251 — 
Construction to permanent - CRE31 149 — 2,357 2,476 — 
21,913 39,001 — 22,549 38,951 — 
With a related allowance recorded:
Commercial Real Estate218 2,026 116 974 969 403 
Commercial and Industrial2,595 5,031 1,564 1,492 1,810 60 
2,813 7,057 1,680 2,466 2,779 463 
Individually evaluated loans, Total:
Commercial Real Estate20,109 38,450 116 19,335 35,193 403 
Residential Real Estate57 58 — — — — 
Commercial and Industrial4,529 7,401 1,564 3,323 4,061 60 
Construction to permanent - CRE31 149 — 2,357 2,476 — 
Total$24,726 $46,058 $1,680 $25,015 $41,730 $463 
The following table summarizes additional information regarding individually evaluated loans by segment for the three and nine months ended September 30, 2025 and 2024:
Three Month Ended September 30,Nine Months Ended September 30,
(In thousands)2025202420252024
Average Recorded Investment Interest Income Recognized 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$20,046 $— $3,923 $— $21,890 $18 $3,922 $— 
Residential Real Estate58 2 — — 59 2 — — 
Commercial and Industrial1,933 — 4,479 125 2,003 — 3,720 236 
Construction to permanent - CRE31 — 2,357 — 1,427 — 2,411 — 
22,068 2 10,759 125 25,379 20 10,053 236 
With a related allowance recorded:
Commercial Real Estate218 63 24,627 59 318 63 25,018 274 
Commercial and Industrial2,596 169 — — 2,623 169 — — 
2,814 232 24,627 59 2,941 232 25,018 274 
Individually evaluated loans, Total:
Commercial Real Estate20,264 63 28,550 59 22,208 81 28,940 274 
Residential Real Estate58 2 — — 59 2 — — 
Commercial and Industrial4,529 169 4,479 125 4,626 169 3,720 236 
Construction to permanent - CRE31 — 2,357 — 1,427 — 2,411 — 
Total$24,882 $234 $35,386 $184 $28,320 $252 $35,071 $510 
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 September 30, 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
September 30, 2025
Allowance for credit losses:
Individually evaluated loans$116 $— $1,564 $— $— $— $1,680 
Collectively evaluated loans2,388 805 1,866 448 — — 5,507 
Total allowance for credit losses$2,504 $805 $3,430 $448 $— $— $7,187 
Loans receivable, gross:
Individually evaluated loans$20,109 $57 $4,529 $— $— $31 $24,726 
Collectively evaluated loans340,693 83,615 118,830 20,802 — — 563,940 
Total loans receivable, gross$360,802 $83,672 $123,359 $20,802 $— $31 $588,666 
(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 loans1,838 596 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 loans400,154 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 loans by vintage, credit quality indicator, class of loans and charge-offs based on year of origination as of September 30, 2025:
Term of Loans by Origination
As of September 30, 2025:20252024202320222021PriorRevolvingTotal Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$19,229 $— $87,292 $90,159 $80,052 $56,628 $— $333,360 
Special mention— — 3,643 — — 1,210 — 4,853 
Substandard— — 183 6,871 10,784 4,751 — 22,589 
Total 19,229 — 91,118 97,030 90,836 62,589 — 360,802 
Current period gross charge-offs— — — — — 779 — 779 
Residential Real Estate:
Pass1,126 3,165 — 5,318 21,932 50,097 1,058 82,696 
Special mention— — — — — 919 — 919 
Substandard— — — — — 57 — 57 
Total 1,126 3,165 — 5,318 21,932 51,073 1,058 83,672 
Current period gross charge-offs— — — — — — — — 
Commercial and Industrial:
Pass5,848 756 3,598 11,687 17,782 5,692 63,192 108,555 
Special mention— — 3 17 35 439 4,206 4,700 
Substandard— — 271 351 842 6,379 2,261 10,104 
Total 5,848 756 3,872 12,055 18,659 12,510 69,659 123,359 
Current period gross charge-offs— — — — — 130 — 130 
Consumer and Other:
Pass203 262 431 582 9 13,666 5,339 20,492 
Substandard— — 25 34 — — 251 310 
Total 203 262 456 616 9 13,666 5,590 20,802 
Current period gross charge-offs— 91 1,642 229 — — — 1,962 
Construction:
Pass— — — — — — — — 
Total — — — — — — — — 
Construction to Permanent - CRE:
Substandard— — — — 31 — — 31 
Total — — — — 31 — — 31 
Total loans$26,406 $4,183 $95,446 $115,019 $131,467 $139,838 $76,307 $588,666 
 Total Current period gross charge-offs$— $91 $1,642 $229 $— $909 $— $2,871 
Loans receivable, gross:
Pass$26,406 $4,183 $91,321 $107,746 $119,775 $126,083 $69,589 $545,103 
Special mention— — 3,646 17 35 2,568 4,206 10,472 
Substandard— — 479 7,256 11,657 11,187 2,512 33,091 
Total Loans receivable, gross$26,406 $4,183 $95,446 $115,019 $131,467 $139,838 $76,307 $588,666 
 Total Current period gross charge-offs$— $91 $1,642 $229 $— $909 $— $2,871 
The following tables summarize loan amortized cost by vintage, credit quality indicator, class of loans and charge-offs based on year of origination as of December 31, 2024:
Term of Loans by Origination
As of December 31, 2024:20242023202220212020PriorRevolvingTotal Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$— $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:
Pass372 — 1,218 2,811 9,546 74,937 792 89,676 
Special mention— — — — 1,053 1,377 — 2,430 
Substandard— — — — — 109 — 109 
Total372 — 1,218 2,811 10,599 76,423 792 92,215 
Current period gross charge-offs— — — — — 21 — 21 
Commercial and Industrial:
Pass843 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 
Total843 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:
Pass290 2,514 15,907 1,846 — 15,305 23,381 59,243 
Substandard— 72 393 13 — — 252 730 
Total290 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 $— $22,593 
Schedule of Financing Receivable, Past Due
The following tables summarize performing and non-performing (i.e., non-accruing) loans receivable by portfolio segment, by aging category, by delinquency status as of September 30, 2025:
(In thousands)Performing (Accruing) Loans
As of September 30, 2025:30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Performing Loans Non- accruing Loans Loans Receivable Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$— $— $— $— $330,360 $330,360 $3,000 $333,360 
Special mention— — — — 4,853 4,853 — 4,853 
Substandard— — — — 5,480 5,480 17,109 22,589 
— — — — 340,693 340,693 20,109 360,802 
Residential Real Estate:
Pass479 — — 479 82,217 82,696 — 82,696 
Special mention184 — — 184 735 919 — 919 
Substandard— — — — — — 57 57 
663 — — 663 82,952 83,615 57 83,672 
Commercial and Industrial:
Pass321 1,098 — 1,419 105,137 106,556 1,999 108,555 
Special mention— — — — 4,700 4,700 — 4,700 
Substandard— 351 — 351 6,289 6,640 3,464 10,104 
321 1,449 — 1,770 116,126 117,896 5,463 123,359 
Consumer and Other:
Pass219 26 — 245 20,247 20,492 — 20,492 
Substandard— — — — — — 310 310 
219 26 — 245 20,247 20,492 310 20,802 
Construction:
Pass— — — — — — — — 
— — — — — — — — 
Construction to Permanent - CRE:
Substandard— — — — — — 31 31 
— — — — — — 31 31 
Total$1,203 $1,475 $— $2,678 $560,018 $562,696 $25,970 $588,666 
Loans receivable, gross:
Pass$1,019 $1,124 $— $2,143 $537,961 $540,104 $4,999 $545,103 
Special mention184 — — 184 10,288 10,472 — 10,472 
Substandard— 351 — 351 11,769 12,120 20,971 33,091 
Loans receivable, gross$1,203 $1,475 $— $2,678 $560,018 $562,696 $25,970 $588,666 
The following tables summarize performing and non-performing loans (i.e., non-accruing) receivable by portfolio segment, by aging category, by delinquency status as of December 31, 2024:
(In thousands)Performing (Accruing) Loans
As of December 31, 2024:30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Performing Loans Non- accruing Loans Loans Receivable Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$— $— $— $— $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:
Pass838 — — 838 88,838 89,676 — 89,676 
Special mention— — — — 2,430 2,430 — 2,430 
Substandard— — — — — — 109 109 
838 — — 838 91,268 92,106 109 92,215 
Commercial and Industrial:
Pass1,107 — — 1,107 110,046 111,153 2,349 113,502 
Special mention— — — — 8,308 8,308 — 8,308 
Substandard350 — — 350 6,456 6,806 992 7,798 
1,457 — — 1,457 124,810 126,267 3,341 129,608 
Consumer and Other:
Pass602 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 
Substandard350 — — 350 15,188 15,538 17,551 33,089 
Loans receivable, gross$2,897 $687 $— $3,584 $678,017 $681,601 $25,871 $707,472 
Schedule of Financing Receivable, Nonaccrual
The following tables summarize non-performing (i.e., non-accruing) loans by aging category and status, within the applicable loan portfolio segment as of September 30, 2025 and December 31, 2024:
(In thousands) Non-accruing Loans
 30 - 59
Days
Past Due 		60 - 89
Days
Past Due 		90 Days or
Greater Past
Due 		Total
Past Due 		Current Total
Non-accruing
Loans
As of September 30, 2025: 
Loan portfolio segment: 
Commercial Real Estate: 
Pass$— $— $3,000 $3,000 $— $3,000 
Substandard 3,270 — 7,534 10,804 6,305 17,109 
Residential Real Estate: 
Substandard — — 57 57 — 57 
Commercial and Industrial: 
Pass— — 1,999 1,999 — 1,999 
Substandard 2,208 — 1,246 3,454 10 3,464 
Consumer and Other: 
Substandard — 2 308 310 — 310 
Construction to permanent - CRE:
Substandard— — 31 31 — 31 
Total non-accruing loans $5,478 $2 $14,175 $19,655 $6,315 $25,970 
 
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