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ALLOWANCE FOR CREDIT LOSSES - LOANS | 12 Months Ended
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Dec. 31, 2024
ALLOWANCE FOR CREDIT LOSSES - LOANS |
ALLOWANCE FOR CREDIT LOSSES - LOANS | 7. ALLOWANCE FOR CREDIT LOSSES – LOANS The following tables summarize the roll forward of the allowance for credit losses by loan portfolio segment for the years ended December 31, 2024 and 2023 (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | BALANCE AT | ​ | CHARGE- | ​ | ​ | ​ | ​ | PROVISION | ​ | BALANCE AT
​ |  | DECEMBER 31, 2023 | ​ | OFFS |  | RECOVERIES |  | (RECOVERY) |  | DECEMBER 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial real estate (owner occupied) | ​ | $ | 1,529 | ​ | $ | — | ​ | $ | 24 | ​ | $ | (1,155) | ​ | $ | 398
Other commercial and industrial | ​ |  | 3,030 | ​ |  | (427) | ​ |  | 45 | ​ |  | 212 | ​ |  | 2,860
Commercial real estate (non-owner occupied) - retail | ​ |  | 3,488 | ​ |  | — | ​ |  | — | ​ |  | 207 | ​ |  | 3,695
Commercial real estate (non-owner occupied) - multi-family | ​ |  | 1,430 | ​ |  | — | ​ |  | 3 | ​ |  | 45 | ​ |  | 1,478
Other commercial real estate (non-owner occupied) | ​ |  | 3,428 | ​ |  | (1,571) | ​ |  | 11 | ​ |  | 1,583 | ​ |  | 3,451
Residential mortgages | ​ |  | 1,021 | ​ |  | — | ​ |  | 18 | ​ |  | (200) | ​ |  | 839
Consumer | ​ |  | 1,127 | ​ |  | (207) | ​ |  | 81 | ​ |  | 190 | ​ |  | 1,191
Total | ​ | $ | 15,053 | ​ | $ | (2,205) | ​ | $ | 182 | ​ | $ | 882 | ​ | $ | 13,912
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | BALANCE AT | ​ | ​ | IMPACT OF | ​ | CHARGE- | ​ | ​ | ​ | ​ | PROVISION | ​ | BALANCE AT
​ |  | DECEMBER 31, 2022 | ​ | ​ | ADOPTING ASC 326 |  | OFFS |  | RECOVERIES |  | (RECOVERY) |  | DECEMBER 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Commercial real estate (owner occupied) | ​ | $ | — | ​ | $ | 1,380 | ​ | $ | — | ​ | $ | 24 | ​ | $ | 125 | ​ | $ | 1,529
Other commercial and industrial | ​ |  | — | ​ |  | 2,908 | ​ |  | (480) | ​ |  | 3 | ​ |  | 599 | ​ |  | 3,030
Commercial real estate (non-owner occupied) - retail | ​ |  | — | ​ |  | 1,432 | ​ |  | (2,028) | ​ |  | — | ​ |  | 4,084 | ​ |  | 3,488
Commercial real estate (non-owner occupied) - multi-family | ​ |  | — | ​ |  | 1,226 | ​ |  | — | ​ |  | 6 | ​ |  | 198 | ​ |  | 1,430
Other commercial real estate (non-owner occupied) | ​ |  | 5,972 | ​ |  | (2,776) | ​ |  | (804) | ​ |  | 14 | ​ |  | 1,022 | ​ |  | 3,428
Commercial (owner occupied real estate and other) | ​ |  | 2,653 | ​ |  | (2,653) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Residential mortgages | ​ |  | 1,380 | ​ |  | (355) | ​ |  | (54) | ​ |  | 14 | ​ |  | 36 | ​ |  | 1,021
Consumer | ​ |  | 85 | ​ |  | 695 | ​ |  | (275) | ​ |  | 123 | ​ |  | 499 | ​ |  | 1,127
Allocation for general risk | ​ |  | 653 | ​ |  | (653) | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Total | ​ | $ | 10,743 | ​ | $ | 1,204 | ​ | $ | (3,641) | ​ | $ | 184 | ​ | $ | 6,563 | ​ | $ | 15,053
​ The Company recorded an $882,000 provision for credit losses on the loan portfolio in 2024 compared to a provision of $6.6 million for the year ended December 31, 2023, resulting in a favorable change of $5.7 million. The lower provision for credit losses for the 2024 year reflects provision recoveries recognized for the loan portfolio during the first and third quarters. These recoveries were more than offset by the fourth quarter provision of $1.0 million. The provision for credit losses in the fourth quarter of 2024 reflects the unfavorable impact on loss rates used to calculate the allowance for credit losses in accordance with CECL and a $400,000 specific reserve established on a new other commercial and industrial (C&I) loan transferred to non-accrual status. The unfavorable impact on loss rates resulted from a $1.6 million partial charge-down of a $3.6 million other commercial real estate (non-owner occupied) loan that was transferred to non-accrual status during the fourth quarter on which a specific reserve had already been established earlier in the year. Additionally, the provision expense was impacted by the strong level of loan growth experienced during the fourth quarter of 2024. The significantly higher provision expense for credit losses on loans recorded during the year ended December 31, 2023 was due to the negative impact that the Rite Aid bankruptcy had on several commercial real estate properties. Specifically, the 2023 allowance for loan credit losses provision of $6.6 million was recorded after Rite Aid, a national tenant in several commercial real estate properties financed by the Company, declared bankruptcy in the fourth quarter. As a result of that action, the Company updated its comprehensive evaluation of its exposure to Rite Aid throughout its loan portfolio as it received information on leases that Rite Aid either rejected or modified. The evaluation required the recognition of $2.0 million in charge-offs related to two non-owner occupied commercial real estate (CRE) loans in which Rite Aid was the sole tenant. There was also a partial charge-down of $804,000 on another non-owner occupied CRE loan for a mixed-use retail/office property in which Rite Aid was the major tenant. Also contributing to the significant increase in the provision for credit losses in 2023 was an unfavorable adjustment to the historical loss factors used to calculate the allowance for credit losses in accordance with CECL requirements and growth within the loan portfolio. The following tables summarize the loan portfolio and allowance for credit losses by the primary segments of the loan portfolio. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | COMMERCIAL | ​ | COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | COMMERCIAL | ​ | ​ | ​ | REAL ESTATE | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | (NON-OWNER OCCUPIED) - | ​ | (NON-OWNER OCCUPIED) - | ​ | REAL ESTATE | ​ | RESIDENTIAL | ​ | ​ | ​ | ​ | ​ | ​
Loans: |  | (OWNER OCCUPIED) |  | AND INDUSTRIAL |  | RETAIL |  | MULTI-FAMILY |  | (NON-OWNER OCCUPIED) |  | MORTGAGES |  | CONSUMER |  | TOTAL
​ | ​ | (IN THOUSANDS)
Individually evaluated | ​ | $ | 3,429 | ​ | $ | 1,675 | ​ | $ | — | ​ | $ | — | ​ | $ | 8,773 | ​ | $ | 379 | ​ | $ | 10 | ​ | $ | 14,266
Collectively evaluated | ​ |  | 83,524 | ​ |  | 145,576 | ​ |  | 181,778 | ​ |  | 132,364 | ​ |  | 225,109 | ​ |  | 176,731 | ​ |  | 108,601 | ​ |  | 1,053,683
Total loans | ​ | $ | 86,953 | ​ | $ | 147,251 | ​ | $ | 181,778 | ​ | $ | 132,364 | ​ | $ | 233,882 | ​ | $ | 177,110 | ​ | $ | 108,611 | ​ | $ | 1,067,949
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | COMMERCIAL | ​ | COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | COMMERCIAL | ​ | ​ | ​ | REAL ESTATE | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | (NON-OWNER OCCUPIED) - | ​ | (NON-OWNER OCCUPIED) - | ​ | REAL ESTATE | ​ | RESIDENTIAL | ​ | ​ | ​ | ​ | ​ | ​
credit losses: |  | (OWNER OCCUPIED) |  | AND INDUSTRIAL |  | RETAIL |  | MULTI-FAMILY |  | (NON-OWNER OCCUPIED) |  | MORTGAGES |  | CONSUMER |  | TOTAL
​ | ​ | (IN THOUSANDS)
Specific reserve allocation | ​ | $ | — | ​ | $ | 541 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 541
General reserve allocation | ​ |  | 398 | ​ |  | 2,319 | ​ |  | 3,695 | ​ |  | 1,478 | ​ |  | 3,451 | ​ |  | 839 | ​ |  | 1,191 | ​ |  | 13,371
Total allowance for credit losses | ​ | $ | 398 | ​ | $ | 2,860 | ​ | $ | 3,695 | ​ | $ | 1,478 | ​ | $ | 3,451 | ​ | $ | 839 | ​ | $ | 1,191 | ​ | $ | 13,912
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | COMMERCIAL | ​ | COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | COMMERCIAL | ​ | ​ | ​ | REAL ESTATE | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | (NON-OWNER OCCUPIED) - | ​ | (NON-OWNER OCCUPIED) - | ​ | REAL ESTATE | ​ | RESIDENTIAL | ​ | ​ | ​ | ​ | ​ | ​
Loans: | ​ | (OWNER OCCUPIED) |  | AND INDUSTRIAL |  | RETAIL |  | MULTI-FAMILY |  | (NON-OWNER OCCUPIED) |  | MORTGAGES |  | CONSUMER |  | TOTAL
​ | ​ | (IN THOUSANDS)
Individually evaluated | ​ | $ | 187 | ​ | $ | 1,694 | ​ | $ | — | ​ | $ | — | ​ | $ | 8,780 | ​ | $ | 173 | ​ | $ | — | ​ | $ | 10,834
Collectively evaluated | ​ |  | 88,960 | ​ |  | 157,730 | ​ |  | 161,961 | ​ |  | 110,008 | ​ |  | 231,506 | ​ |  | 174,497 | ​ |  | 102,775 | ​ |  | 1,027,437
Total loans | ​ | $ | 89,147 | ​ | $ | 159,424 | ​ | $ | 161,961 | ​ | $ | 110,008 | ​ | $ | 240,286 | ​ | $ | 174,670 | ​ | $ | 102,775 | ​ | $ | 1,038,271
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | COMMERCIAL | ​ | COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | COMMERCIAL | ​ | ​ | ​ | REAL ESTATE | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Allowance for | ​ | REAL ESTATE | ​ | OTHER COMMERCIAL | ​ | (NON-OWNER OCCUPIED) - | ​ | (NON-OWNER OCCUPIED) - | ​ | REAL ESTATE | ​ | RESIDENTIAL | ​ | ​ | ​ | ​ | ​ | ​
credit losses: | ​ | (OWNER OCCUPIED) |  | AND INDUSTRIAL |  | RETAIL |  | MULTI-FAMILY |  | (NON-OWNER OCCUPIED) |  | MORTGAGES |  | CONSUMER |  | TOTAL
​ |  | (IN THOUSANDS)
Specific reserve allocation | ​ | $ | — | ​ | $ | 414 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 414
General reserve allocation | ​ |  | 1,529 | ​ |  | 2,616 | ​ |  | 3,488 | ​ |  | 1,430 | ​ |  | 3,428 | ​ |  | 1,021 | ​ |  | 1,127 | ​ |  | 14,639
Total allowance for credit losses | ​ | $ | 1,529 | ​ | $ | 3,030 | ​ | $ | 3,488 | ​ | $ | 1,430 | ​ | $ | 3,428 | ​ | $ | 1,021 | ​ | $ | 1,127 | ​ | $ | 15,053
​ ​ The following tables present the amortized cost basis of collateral-dependent loans which were individually evaluated for a specific reserve allocation in the allowance for credit losses by class of loans (in thousands).
​ | ​ | ​ | ​
​ | ​ | COLLATERAL TYPE
DECEMBER 31, 2024 | ​ | REAL ESTATE
Commercial: | ​ | ​ | ​
Commercial real estate (owner occupied) | ​ | $ | 3,429
Other commercial and industrial | ​ | ​ | 1,000
Commercial real estate (non-owner occupied): |  | ​ | ​
Other | ​ | ​ | 8,773
Residential mortgages |  | ​ | 378
Consumer |  | ​ | 10
Total | ​ | $ | 13,590
​
​ | ​ | ​ | ​
​ | ​ | COLLATERAL TYPE
DECEMBER 31, 2023 | ​ | REAL ESTATE
Commercial: | ​ | ​ | ​
Commercial real estate (owner occupied) | ​ | $ | 187
Commercial real estate (non-owner occupied): |  | ​ | ​
Other | ​ | ​ | 8,780
Residential mortgages |  | ​ | 173
Total | ​ | $ | 9,140
​ Non-Performing Assets from the Loan Portfolio ​ Non-performing assets from the loan portfolio are comprised of (i) loans which are on a non-accrual basis, (ii) loans which are contractually past due 90 days or more as to interest or principal payments, and (iii) other real estate owned (OREO – real estate acquired through foreclosure and in-substance foreclosures) and repossessed assets. ​ Loans will be transferred to non-accrual status when, based on current information and events, it is probable that the Company will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in evaluating the loan include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The following table presents non-accrual loans, loans past due over 90 days still accruing interest, and OREO and repossessed assets by portfolio class (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2024
​ |  | NON-ACCRUAL WITH NO ACL |  | NON-ACCRUAL WITH ACL |  | TOTAL NON-ACCRUAL |  | LOANS PAST DUE OVER 90 DAYS STILL ACCRUING | ​ | OREO AND REPOSSESSED ASSETS |  | TOTAL NON-PERFORMING ASSETS
Commercial real estate (owner occupied) | ​ | $ | 152 | ​ | $ | — | ​ | $ | 152 | ​ | $ | — | ​ | $ | — | ​ | $ | 152
Other commercial and industrial | ​ | ​ | — | ​ | ​ | 675 | ​ | ​ | 675 | ​ | ​ | 97 | ​ | ​ | 234 | ​ | ​ | 1,006
Other commercial real estate (non-owner occupied) | ​ | ​ | 8,773 | ​ | ​ | — | ​ | ​ | 8,773 | ​ | ​ | — | ​ | ​ | 1,476 | ​ | ​ | 10,249
Residential mortgages | ​ | ​ | 379 | ​ | ​ | — | ​ | ​ | 379 | ​ | ​ | 26 | ​ | ​ | 14 | ​ | ​ | 419
Consumer | ​ | ​ | 10 | ​ | ​ | 821 | ​ | ​ | 831 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 831
Total | ​ | $ | 9,314 | ​ | $ | 1,496 | ​ | $ | 10,810 | ​ | $ | 123 | ​ | $ | 1,724 | ​ | $ | 12,657
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2023
​ |  | NON-ACCRUAL WITH NO ACL |  | NON-ACCRUAL WITH ACL |  | TOTAL NON-ACCRUAL |  | LOANS PAST DUE OVER 90 DAYS STILL ACCRUING | ​ | OREO AND REPOSSESSED ASSETS |  | TOTAL NON-PERFORMING ASSETS
Commercial real estate (owner occupied) | ​ | $ | 187 | ​ | $ | — | ​ | $ | 187 | ​ | $ | — | ​ | $ | — | ​ | $ | 187
Other commercial and industrial | ​ | ​ | — | ​ | ​ | 1,694 | ​ | ​ | 1,694 | ​ | ​ | 211 | ​ | ​ | — | ​ | ​ | 1,905
Other commercial real estate (non-owner occupied) | ​ | ​ | 8,780 | ​ | ​ | — | ​ | ​ | 8,780 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,780
Residential mortgages | ​ | ​ | 173 | ​ | ​ | 545 | ​ | ​ | 718 | ​ | ​ | — | ​ | ​ | 15 | ​ | ​ | 733
Consumer | ​ | ​ | — | ​ | ​ | 788 | ​ | ​ | 788 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 788
Total | ​ | $ | 9,140 | ​ | $ | 3,027 | ​ | $ | 12,167 | ​ | $ | 211 | ​ | $ | 15 | ​ | $ | 12,393
​ It should be noted that the Company has elected to exclude accrued interest receivable from the measurement of its ACL. When a loan is placed in non-accrual status, any outstanding interest is reversed against interest income. ​ Non-performing assets from the loan portfolio increased from $12.4 million at December 31, 2023 to $12.7 million at December 31, 2024. Non-performing assets from the loan portfolio were at 1.19% of total loans as of December 31, 2024. The Company recognized net loan charge-offs of $2.0 million, or 0.19% of total average loans, in 2024 compared to net loan charge-offs of $3.5 million, or 0.35% of total average loans, in 2023. In summary, the allowance for credit losses provided 127% coverage of non-performing loans and 1.30% of total loans at December 31, 2024 compared to 122% coverage of non-performing loans and 1.45% of total loans at December 31, 2023. Foreclosed assets acquired in settlement of loans carried at fair value less estimated costs to sell are included in other assets on the Consolidated Balance Sheets. As of December 31, 2024 and 2023, a total of $14,000 and $15,000, respectively, of residential real estate foreclosed assets were included in other assets. As of December 31, 2024, the Company had initiated formal foreclosure procedures on $198,000 of residential mortgages. ​ Credit Quality Indicators ​ The Company categorizes loans into risk categories based on relevant information about the ability of borrowers to service their debt such as: current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. The Company analyzes loans individually to classify the loans as to credit risk. ​ Management uses a nine-point internal risk rating system to monitor the credit quality of the overall loan portfolio. The first six categories are considered not criticized. The first five pass categories are aggregated, while the pass-6, special mention, substandard and doubtful categories are disaggregated to separate pools. The criticized rating categories utilized by management generally follow bank regulatory definitions. The special mention category includes assets that are currently protected but are potentially weak, resulting in an undue and unwarranted credit risk, but not to the point of justifying a substandard classification. Loans in the substandard category have well-defined weaknesses that jeopardize the liquidation of the debt and have a distinct possibility that some loss will be sustained if the weaknesses are not corrected. Loans in the doubtful category have all the weaknesses inherent in those classified as substandard, with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. All loans greater than 90 days past due, or for which any portion of the loan represents a specific allocation of the allowance for credit losses are typically placed in substandard or doubtful. To help ensure that risk ratings are accurate and reflect the present and future capacity of borrowers to repay a loan as agreed, the Company has a structured loan rating process, which dictates that, at a minimum, credit reviews are mandatory for all commercial and commercial mortgage loan relationships with aggregate balances in excess of $1,000,000 within a 12-month period. Generally, consumer and residential mortgage loans are included in the pass categories unless a specific action, such as bankruptcy, delinquency, or death occurs to raise awareness of a possible credit event. The Company’s commercial relationship managers are responsible for the timely and accurate risk rating of the loans in their portfolios at origination and on an ongoing basis. Risk ratings are assigned by the account officer, but require independent review and rating concurrence from the Company’s internal Loan Review Department. The Loan Review Department is an experienced, independent function which reports directly to the Board’s Audit Committee. The scope of commercial portfolio coverage by the Loan Review Department is defined and presented to the Audit Committee for approval on an annual basis. The actual loan review coverage for the year ended December 31, 2024 was 30% of the commercial loan portfolio. In addition to loan monitoring by the account officer and Loan Review Department, the Company also requires presentation of all credits rated pass-6 with aggregate balances greater than $2,000,000, all credits rated special mention or substandard with aggregate balances greater than $250,000, and all credits rated doubtful with aggregate balances greater than $100,000 on an individual basis to the Company’s Loan Loss Reserve Committee on a quarterly basis. Additionally, the Asset Quality Task Force, which is a group comprised of senior level personnel, meets monthly to monitor the status of problem loans. The following tables present the classes of the commercial and commercial real estate loan portfolios summarized by the aggregate pass and the criticized categories of special mention, substandard and doubtful within the internal risk rating system. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | REVOLVING | ​ | REVOLVING | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | LOANS | ​ | LOANS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | AMORTIZED | ​ | CONVERTED | ​ | ​ | ​
​ | ​ | TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR | ​ | COST | ​ | TO | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | PRIOR |  | BASIS |  | TERM |  | TOTAL
​ | ​ | (IN THOUSANDS)
Commercial real estate (owner occupied) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 10,294 | ​ | $ | 17,016 | ​ | $ | 6,648 | ​ | $ | 10,675 | ​ | $ | 10,476 | ​ | $ | 26,393 | ​ | $ | 324 | ​ | $ | 856 | ​ | $ | 82,682
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,680 | ​ | ​ | — | ​ | ​ | 591 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 4,271
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 10,294 | ​ | $ | 17,016 | ​ | $ | 6,648 | ​ | $ | 14,355 | ​ | $ | 10,476 | ​ | $ | 26,984 | ​ | $ | 324 | ​ | $ | 856 | ​ | $ | 86,953
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Other commercial and industrial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 16,714 | ​ | $ | 19,357 | ​ | $ | 20,977 | ​ | $ | 7,397 | ​ | $ | 4,568 | ​ | $ | 19,280 | ​ | $ | 54,455 | ​ | $ | — | ​ | $ | 142,748
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | 480 | ​ | ​ | 409 | ​ | ​ | 1,753 | ​ | ​ | — | ​ | ​ | 689 | ​ | ​ | 1,172 | ​ | ​ | — | ​ | ​ | 4,503
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 16,714 | ​ | $ | 19,837 | ​ | $ | 21,386 | ​ | $ | 9,150 | ​ | $ | 4,568 | ​ | $ | 19,969 | ​ | $ | 55,627 | ​ | $ | — | ​ | $ | 147,251
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | 427 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 427
Commercial real estate (non-owner occupied) - retail | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 29,349 | ​ | $ | 38,912 | ​ | $ | 20,935 | ​ | $ | 31,934 | ​ | $ | 21,322 | ​ | $ | 38,047 | ​ | $ | 32 | ​ | $ | 942 | ​ | $ | 181,473
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 305 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 305
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 29,349 | ​ | $ | 38,912 | ​ | $ | 21,240 | ​ | $ | 31,934 | ​ | $ | 21,322 | ​ | $ | 38,047 | ​ | $ | 32 | ​ | $ | 942 | ​ | $ | 181,778
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Commercial real estate (non-owner occupied) - multi-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 25,984 | ​ | $ | 28,807 | ​ | $ | 16,423 | ​ | $ | 16,816 | ​ | $ | 11,513 | ​ | $ | 30,066 | ​ | $ | 475 | ​ | $ | — | ​ | $ | 130,084
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 915 | ​ | ​ | 1,365 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,280
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 25,984 | ​ | $ | 28,807 | ​ | $ | 16,423 | ​ | $ | 16,816 | ​ | $ | 12,428 | ​ | $ | 31,431 | ​ | $ | 475 | ​ | $ | — | ​ | $ | 132,364
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Other commercial real estate (non-owner occupied) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 27,801 | ​ | $ | 32,514 | ​ | $ | 35,365 | ​ | $ | 40,876 | ​ | $ | 16,226 | ​ | $ | 61,619 | ​ | $ | 4,537 | ​ | $ | 194 | ​ | $ | 219,132
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,488 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,488
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 569 | ​ | ​ | 199 | ​ | ​ | — | ​ | ​ | 10,494 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 11,262
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 27,801 | ​ | $ | 32,514 | ​ | $ | 35,934 | ​ | $ | 41,075 | ​ | $ | 16,226 | ​ | $ | 75,601 | ​ | $ | 4,537 | ​ | $ | 194 | ​ | $ | 233,882
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 1,571 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,571
Total by risk rating |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 110,142 | ​ | $ | 136,606 | ​ | $ | 100,348 | ​ | $ | 107,698 | ​ | $ | 64,105 | ​ | $ | 175,405 | ​ | $ | 59,823 | ​ | $ | 1,992 | ​ | $ | 756,119
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 305 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,488 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,793
Substandard | ​ | ​ | — | ​ | ​ | 480 | ​ | ​ | 978 | ​ | ​ | 5,632 | ​ | ​ | 915 | ​ | ​ | 13,139 | ​ | ​ | 1,172 | ​ | ​ | — | ​ | ​ | 22,316
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 110,142 | ​ | $ | 137,086 | ​ | $ | 101,631 | ​ | $ | 113,330 | ​ | $ | 65,020 | ​ | $ | 192,032 | ​ | $ | 60,995 | ​ | $ | 1,992 | ​ | $ | 782,228
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | 427 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,571 | ​ | $ | — | ​ | $ | — | ​ | $ | 1,998
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | REVOLVING | ​ | REVOLVING | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | LOANS | ​ | LOANS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | AMORTIZED | ​ | CONVERTED | ​ | ​ | ​
​ | ​ | TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR | ​ | COST | ​ | TO | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | PRIOR |  | BASIS |  | TERM |  | TOTAL
​ | ​ | (IN THOUSANDS)
Commercial real estate (owner occupied) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 17,801 | ​ | $ | 6,750 | ​ | $ | 15,067 | ​ | $ | 8,415 | ​ | $ | 10,322 | ​ | $ | 26,538 | ​ | $ | 351 | ​ | $ | — | ​ | $ | 85,244
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 464 | ​ | ​ | — | ​ | ​ | 2,252 | ​ | ​ | — | ​ | ​ | 923 | ​ | ​ | — | ​ | ​ | 3,639
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 264 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 264
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 17,801 | ​ | $ | 6,750 | ​ | $ | 15,531 | ​ | $ | 8,415 | ​ | $ | 12,574 | ​ | $ | 26,802 | ​ | $ | 1,274 | ​ | $ | — | ​ | $ | 89,147
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Other commercial and industrial | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 22,662 | ​ | $ | 34,816 | ​ | $ | 12,767 | ​ | $ | 5,831 | ​ | $ | 4,912 | ​ | $ | 19,587 | ​ | $ | 56,391 | ​ | $ | 70 | ​ | $ | 157,036
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 127 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 127
Substandard | ​ | ​ | — | ​ | ​ | 619 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,578 | ​ | ​ | 64 | ​ | ​ | — | ​ | ​ | 2,261
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 22,662 | ​ | $ | 35,435 | ​ | $ | 12,894 | ​ | $ | 5,831 | ​ | $ | 4,912 | ​ | $ | 21,165 | ​ | $ | 56,455 | ​ | $ | 70 | ​ | $ | 159,424
Current period gross charge-offs | ​ | $ | — | ​ | $ | 75 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 405 | ​ | $ | — | ​ | $ | — | ​ | $ | 480
Commercial real estate (non-owner occupied) - retail | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 35,545 | ​ | $ | 23,368 | ​ | $ | 33,110 | ​ | $ | 23,146 | ​ | $ | 9,226 | ​ | $ | 35,102 | ​ | $ | 983 | ​ | $ | — | ​ | $ | 160,480
Special Mention | ​ | ​ | — | ​ | ​ | 314 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,167 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,481
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 35,545 | ​ | $ | 23,682 | ​ | $ | 33,110 | ​ | $ | 23,146 | ​ | $ | 9,226 | ​ | $ | 36,269 | ​ | $ | 983 | ​ | $ | — | ​ | $ | 161,961
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 2,028 | ​ | $ | — | ​ | $ | — | ​ | $ | 2,028
Commercial real estate (non-owner occupied) - multi-family | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 22,620 | ​ | $ | 16,767 | ​ | $ | 16,622 | ​ | $ | 12,041 | ​ | $ | 9,638 | ​ | $ | 28,632 | ​ | $ | 1,321 | ​ | $ | — | ​ | $ | 107,641
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Substandard | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 966 | ​ | ​ | 1,278 | ​ | ​ | 123 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,367
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 22,620 | ​ | $ | 16,767 | ​ | $ | 16,622 | ​ | $ | 13,007 | ​ | $ | 10,916 | ​ | $ | 28,755 | ​ | $ | 1,321 | ​ | $ | — | ​ | $ | 110,008
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Other commercial real estate (non-owner occupied) | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 29,591 | ​ | $ | 36,398 | ​ | $ | 48,267 | ​ | $ | 20,168 | ​ | $ | 23,025 | ​ | $ | 54,792 | ​ | $ | 5,670 | ​ | $ | — | ​ | $ | 217,911
Special Mention | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,777 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 3,777
Substandard | ​ | ​ | — | ​ | ​ | 1,043 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 6,243 | ​ | ​ | 11,113 | ​ | ​ | — | ​ | ​ | 199 | ​ | ​ | 18,598
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 29,591 | ​ | $ | 37,441 | ​ | $ | 48,267 | ​ | $ | 20,168 | ​ | $ | 29,268 | ​ | $ | 69,682 | ​ | $ | 5,670 | ​ | $ | 199 | ​ | $ | 240,286
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 804 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 804
Total by risk rating |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Pass | ​ | $ | 128,219 | ​ | $ | 118,099 | ​ | $ | 125,833 | ​ | $ | 69,601 | ​ | $ | 57,123 | ​ | $ | 164,651 | ​ | $ | 64,716 | ​ | $ | 70 | ​ | $ | 728,312
Special Mention | ​ | ​ | — | ​ | ​ | 314 | ​ | ​ | 591 | ​ | ​ | — | ​ | ​ | 2,252 | ​ | ​ | 4,944 | ​ | ​ | 923 | ​ | ​ | — | ​ | ​ | 9,024
Substandard | ​ | ​ | — | ​ | ​ | 1,662 | ​ | ​ | — | ​ | ​ | 966 | ​ | ​ | 7,521 | ​ | ​ | 13,078 | ​ | ​ | 64 | ​ | ​ | 199 | ​ | ​ | 23,490
Doubtful | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | —
Total | ​ | $ | 128,219 | ​ | $ | 120,075 | ​ | $ | 126,424 | ​ | $ | 70,567 | ​ | $ | 66,896 | ​ | $ | 182,673 | ​ | $ | 65,703 | ​ | $ | 269 | ​ | $ | 760,826
Current period gross charge-offs | ​ | $ | — | ​ | $ | 75 | ​ | $ | — | ​ | $ | — | ​ | $ | 804 | ​ | $ | 2,433 | ​ | $ | — | ​ | $ | — | ​ | $ | 3,312
​ It is generally the policy of the Bank that the outstanding balance of any residential mortgage or home equity loan that exceeds 90-days past due as to principal and/or interest is transferred to non-accrual status and an evaluation is completed to determine the fair value of the collateral less selling costs, unless the balance is minor. A charge-down is recorded for any deficiency balance determined from the collateral evaluation. It is generally the policy of the Bank that the outstanding balance of any unsecured consumer loan that exceeds 90-days past due as to principal and/or interest is charged off. Loans past due 90 days or more and loans in non-accrual status are considered non-performing. The following tables present the performing and non-performing outstanding balances of the residential mortgage and consumer loan portfolio classes. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | REVOLVING | ​ | REVOLVING | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | LOANS | ​ | LOANS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | AMORTIZED | ​ | CONVERTED | ​ | ​ | ​
​ | ​ | TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR | ​ | COST | ​ | TO | ​ | ​ | ​
​ |  | 2024 |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | PRIOR |  | BASIS |  | TERM |  | TOTAL
​ | ​ | (IN THOUSANDS)
Residential mortgages | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performing | ​ | $ | 12,877 | ​ | $ | 15,602 | ​ | $ | 10,400 | ​ | $ | 57,540 | ​ | $ | 41,868 | ​ | $ | 38,418 | ​ | $ | — | ​ | $ | — | ​ | $ | 176,705
Non-performing | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 405 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 405
Total | ​ | $ | 12,877 | ​ | $ | 15,602 | ​ | $ | 10,400 | ​ | $ | 57,540 | ​ | $ | 41,868 | ​ | $ | 38,823 | ​ | $ | — | ​ | $ | — | ​ | $ | 177,110
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performing | ​ | $ | 11,476 | ​ | $ | 10,988 | ​ | $ | 16,397 | ​ | $ | 7,605 | ​ | $ | 2,475 | ​ | $ | 4,299 | ​ | $ | 53,876 | ​ | $ | 664 | ​ | $ | 107,780
Non-performing | ​ | ​ | — | ​ | ​ | 110 | ​ | ​ | 46 | ​ | ​ | — | ​ | ​ | 59 | ​ | ​ | 344 | ​ | ​ | 272 | ​ | ​ | — | ​ | ​ | 831
Total | ​ | $ | 11,476 | ​ | $ | 11,098 | ​ | $ | 16,443 | ​ | $ | 7,605 | ​ | $ | 2,534 | ​ | $ | 4,643 | ​ | $ | 54,148 | ​ | $ | 664 | ​ | $ | 108,611
Current period gross charge-offs | ​ | $ | 5 | ​ | $ | 6 | ​ | $ | 21 | ​ | $ | 19 | ​ | $ | 13 | ​ | $ | 143 | ​ | $ | — | ​ | $ | — | ​ | $ | 207
Total by payment performance |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performing | ​ | $ | 24,353 | ​ | $ | 26,590 | ​ | $ | 26,797 | ​ | $ | 65,145 | ​ | $ | 44,343 | ​ | $ | 42,717 | ​ | $ | 53,876 | ​ | $ | 664 | ​ | $ | 284,485
Non-performing | ​ | ​ | — | ​ | ​ | 110 | ​ | ​ | 46 | ​ | ​ | — | ​ | ​ | 59 | ​ | ​ | 749 | ​ | ​ | 272 | ​ | ​ | — | ​ | ​ | 1,236
Total | ​ | $ | 24,353 | ​ | $ | 26,700 | ​ | $ | 26,843 | ​ | $ | 65,145 | ​ | $ | 44,402 | ​ | $ | 43,466 | ​ | $ | 54,148 | ​ | $ | 664 | ​ | $ | 285,721
Current period gross charge-offs | ​ | $ | 5 | ​ | $ | 6 | ​ | $ | 21 | ​ | $ | 19 | ​ | $ | 13 | ​ | $ | 143 | ​ | $ | — | ​ | $ | — | ​ | $ | 207
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | REVOLVING | ​ | REVOLVING | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | LOANS | ​ | LOANS | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | AMORTIZED | ​ | CONVERTED | ​ | ​ | ​
​ | ​ | TERM LOANS AMORTIZED COST BASIS BY ORIGINATION YEAR | ​ | COST | ​ | TO | ​ | ​ | ​
​ |  | 2023 |  | 2022 |  | 2021 |  | 2020 |  | 2019 |  | PRIOR |  | BASIS |  | TERM |  | TOTAL
​ | ​ | (IN THOUSANDS)
Residential mortgages | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performing | ​ | $ | 14,576 | ​ | $ | 11,620 | ​ | $ | 61,172 | ​ | $ | 44,049 | ​ | $ | 7,092 | ​ | $ | 35,443 | ​ | $ | — | ​ | $ | — | ​ | $ | 173,952
Non-performing | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 718 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 718
Total | ​ | $ | 14,576 | ​ | $ | 11,620 | ​ | $ | 61,172 | ​ | $ | 44,049 | ​ | $ | 7,092 | ​ | $ | 36,161 | ​ | $ | — | ​ | $ | — | ​ | $ | 174,670
Current period gross charge-offs | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 54 | ​ | $ | — | ​ | $ | — | ​ | $ | 54
Consumer | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performing | ​ | $ | 13,890 | ​ | $ | 20,430 | ​ | $ | 9,782 | ​ | $ | 3,190 | ​ | $ | 1,169 | ​ | $ | 4,515 | ​ | $ | 48,344 | ​ | $ | 667 | ​ | $ | 101,987
Non-performing | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 73 | ​ | ​ | 42 | ​ | ​ | 280 | ​ | ​ | 157 | ​ | ​ | 221 | ​ | ​ | 788
Total | ​ | $ | 13,905 | ​ | $ | 20,430 | ​ | $ | 9,782 | ​ | $ | 3,263 | ​ | $ | 1,211 | ​ | $ | 4,795 | ​ | $ | 48,501 | ​ | $ | 888 | ​ | $ | 102,775
Current period gross charge-offs | ​ | $ | 9 | ​ | $ | 35 | ​ | $ | 43 | ​ | $ | 7 | ​ | $ | 8 | ​ | $ | 173 | ​ | $ | — | ​ | $ | — | ​ | $ | 275
Total by payment performance |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Performing | ​ | $ | 28,466 | ​ | $ | 32,050 | ​ | $ | 70,954 | ​ | $ | 47,239 | ​ | $ | 8,261 | ​ | $ | 39,958 | ​ | $ | 48,344 | ​ | $ | 667 | ​ | $ | 275,939
Non-performing | ​ | ​ | 15 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 73 | ​ | ​ | 42 | ​ | ​ | 998 | ​ | ​ | 157 | ​ | ​ | 221 | ​ | ​ | 1,506
Total | ​ | $ | 28,481 | ​ | $ | 32,050 | ​ | $ | 70,954 | ​ | $ | 47,312 | ​ | $ | 8,303 | ​ | $ | 40,956 | ​ | $ | 48,501 | ​ | $ | 888 | ​ | $ | 277,445
Current period gross charge-offs | ​ | $ | 9 | ​ | $ | 35 | ​ | $ | 43 | ​ | $ | 7 | ​ | $ | 8 | ​ | $ | 227 | ​ | $ | — | ​ | $ | — | ​ | $ | 329
​ Management further monitors the performance and credit quality of the loan portfolio by analyzing the age of the portfolio as determined by the length of time a recorded payment is past due. The following tables present the classes of the loan portfolio summarized by the aging categories of performing loans and non-accrual loans. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2024
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | 30 – 59 | ​ | 60 – 89 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | DAYS | ​ | DAYS | ​ | 90+ DAYS | ​ | TOTAL | ​ | NON- | ​ | TOTAL
​ |  | CURRENT |  | PAST DUE |  | PAST DUE |  | PAST DUE |  | PAST DUE |  | ACCRUAL |  | LOANS
​ | ​ | (IN THOUSANDS)
Commercial real estate (owner occupied) | ​ | $ | 86,368 | ​ | $ | 433 | ​ | $ | — | ​ | $ | — | ​ | $ | 433 | ​ | $ | 152 | ​ | $ | 86,953
Other commercial and industrial | ​ | ​ | 144,627 | ​ | ​ | 1,852 | ​ | ​ | — | ​ | ​ | 97 | ​ | ​ | 1,949 | ​ | ​ | 675 | ​ | ​ | 147,251
Commercial real estate (non-owner occupied) - retail | ​ |  | 181,778 | ​ |  | — | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ | ​ | 181,778
Commercial real estate (non-owner occupied) - multi-family | ​ |  | 132,364 | ​ |  | — | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ | ​ | 132,364
Other commercial real estate (non-owner occupied) | ​ | ​ | 224,914 | ​ | ​ | 195 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 195 | ​ | ​ | 8,773 | ​ | ​ | 233,882
Residential mortgages | ​ |  | 175,817 | ​ |  | 852 | ​ | ​ | 36 | ​ |  | 26 | ​ |  | 914 | ​ |  | 379 | ​ | ​ | 177,110
Consumer | ​ |  | 106,796 | ​ |  | 948 | ​ | ​ | 36 | ​ |  | — | ​ |  | 984 | ​ |  | 831 | ​ | ​ | 108,611
Total | ​ | $ | 1,052,664 | ​ | $ | 4,280 | ​ | $ | 72 | ​ | $ | 123 | ​ | $ | 4,475 | ​ | $ | 10,810 | ​ | $ | 1,067,949
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | AT DECEMBER 31, 2023
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | 30 – 59 | ​ | 60 – 89 | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | DAYS | ​ | DAYS | ​ | 90+ DAYS | ​ | TOTAL | ​ | NON- | ​ | TOTAL
​ |  | CURRENT |  | PAST DUE |  | PAST DUE |  | PAST DUE |  | PAST DUE |  | ACCRUAL |  | LOANS
​ | ​ | (IN THOUSANDS)
Commercial real estate (owner occupied) | ​ | $ | 88,960 | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | 187 | ​ | $ | 89,147
Other commercial and industrial | ​ | ​ | 156,971 | ​ | ​ | 526 | ​ | ​ | 22 | ​ | ​ | 211 | ​ | ​ | 759 | ​ | ​ | 1,694 | ​ | ​ | 159,424
Commercial real estate (non-owner occupied) - retail | ​ |  | 161,961 | ​ |  | — | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ | ​ | 161,961
Commercial real estate (non-owner occupied) - multi-family | ​ |  | 110,008 | ​ |  | — | ​ | ​ | — | ​ |  | — | ​ |  | — | ​ |  | — | ​ | ​ | 110,008
Other commercial real estate (non-owner occupied) | ​ | ​ | 231,506 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 8,780 | ​ | ​ | 240,286
Residential mortgages | ​ |  | 173,497 | ​ |  | 437 | ​ | ​ | 18 | ​ |  | — | ​ |  | 455 | ​ |  | 718 | ​ | ​ | 174,670
Consumer | ​ |  | 101,383 | ​ |  | 604 | ​ | ​ | — | ​ |  | — | ​ |  | 604 | ​ |  | 788 | ​ | ​ | 102,775
Total | ​ | $ | 1,024,286 | ​ | $ | 1,567 | ​ | $ | 40 | ​ | $ | 211 | ​ | $ | 1,818 | ​ | $ | 12,167 | ​ | $ | 1,038,271
​ Loan Modifications to Borrowers Experiencing Financial Difficulty ​ Occasionally, the Company modifies loans to borrowers experiencing financial difficulty as a result of our loss mitigation activities. A variety of solutions are offered to borrowers, including loan modifications that may result in principal forgiveness, interest rate reductions, term extensions, payment delays, or combinations thereof. ​
| ● | Principal forgiveness includes principal and accrued interest forgiveness. When principal forgiveness is provided, the amount of forgiveness is charged off against the ACL.
| ● | Interest rate reductions include modifications where the interest rate is reduced, and interest is deferred.
| ● | Term extensions extend the original contractual maturity date of the loan.
| ● | Payment delays consist of modifications where we expect to collect the contractual amounts due but result in a delay in the receipt of payments specified under the original loan terms. We generally consider payment delays to be insignificant when the delay is three months or less.
​ The following tables summarize the amortized cost basis of loans modified to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023 (in thousands).
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | YEAR ENDED DECEMBER 31, 2024 | ​
​ | ​ | PAYMENT DELAY | ​
​ |  | AMORTIZED COST BASIS |  | % OF TOTAL CLASS OF LOANS |
Commercial real estate (owner occupied) | ​ | $ | 152 | ​ | ​ | 0.17 | %
Total | ​ | $ | 152 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | TERM EXTENSION | ​
​ |  | AMORTIZED COST BASIS |  | % OF TOTAL CLASS OF LOANS |
Other commercial and industrial | ​ | $ | 154 | ​ | ​ | 0.10 | %
Total | ​ | $ | 154 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION | ​
​ |  | AMORTIZED COST BASIS |  | % OF TOTAL CLASS OF LOANS |
Other commercial and industrial | ​ | $ | 480 | ​ | ​ | 0.33 | %
Total | ​ | $ | 480 | ​ | ​ | ​ | ​
​ As of December 31, 2024, the modified loans described in the table above were current as to payments. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | YEAR ENDED DECEMBER 31, 2023 | ​
​ | ​ | TERM EXTENSION | ​
​ |  | AMORTIZED COST BASIS |  | % OF TOTAL CLASS OF LOANS |
Residential mortgages | ​ | $ | 37 | ​ | ​ | 0.02 | %
Total | ​ | $ | 37 | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | COMBINATION - INTEREST RATE REDUCTION AND TERM EXTENSION | ​
​ |  | AMORTIZED COST BASIS |  | % OF TOTAL CLASS OF LOANS |
Other commercial real estate (non-owner occupied) | ​ | $ | 6,243 | ​ | ​ | 2.60 | %
Total | ​ | $ | 6,243 | ​ | ​ | ​ | ​
​ At December 31, 2024 and 2023, the Company had no unfunded loan commitments associated with the loan modifications to borrowers experiencing financial difficulty. ​ The following tables describe the financial effect of the modifications made to borrowers experiencing financial difficulty during the years ended December 31, 2024 and 2023. ​
​ | ​ | ​
YEAR ENDED DECEMBER 31, 2024
PAYMENT DELAY
LOAN TYPE |  | FINANCIAL EFFECT
Commercial real estate (owner occupied) | ​ | Provided 60 months of additional amortization period to lower borrower's monthly payment.
​ | ​ | ​
TERM EXTENSION
LOAN TYPE |  | FINANCIAL EFFECT
Other commercial and industrial | ​ | During the first, second, and third quarters of 2024, provided a maturity date extension of ninety days and modified seasonal principal and interest payments to interest only until maturity. During the fourth quarter, provided the same borrower an additional maturity date extension of one year and required monthly principal and interest payments.
​ | ​ | ​
COMBINATION - PRINCIPAL FORGIVENESS AND TERM EXTENSION
LOAN TYPE |  | FINANCIAL EFFECT
Other commercial and industrial | ​ | As a result of the borrower's bankruptcy, the maturity date of the loan was extended four years and a portion of the principal balance was converted to an equity investment in the borrower.
​
​ | ​ | ​
YEAR ENDED DECEMBER 31, 2023
TERM EXTENSION
LOAN TYPE |  | FINANCIAL EFFECT
Residential mortgages | ​ | During the fourth quarter, provided a maturity date extension of approximately 15 years.
​ | ​ | ​
COMBINATION - INTEREST RATE REDUCTION AND TERM EXTENSION
LOAN TYPE |  | FINANCIAL EFFECT
Other commercial real estate (non-owner occupied) | ​ | During the second quarter, provided seven months of interest only payments at a reduced rate with the remaining portion of interest, totaling approximately $303,000, being deferred until maturity. Additionally, provided three month maturity date extension. A partial charge-down of $804,000 was recorded on this loan in the fourth quarter.
​ During 2023, there was an additional loan modification made to a borrower experiencing financial difficulty in the form of a term extension. The non-accrual, other commercial and industrial loan, in the amount of $405,000, was charged off in the fourth quarter of 2023. The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The other commercial real estate (non-owner occupied) loan modified in 2023 was in non-accrual status and significantly past due as of December 31, 2024. The loan is secured by a mixed use (retail/office) property located within the City of Pittsburgh, but not in the downtown central business district. The loan was considered in default and the Company initiated formal foreclosure procedures on the property during 2024.

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