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The following table illustrates the impact of ASC 326: (Details) - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Loans $ 2,024,824 $ 1,989,276 [1]    
   Allowance for credit losses on loans (20,267) [2],[3] (19,931) [2],[4] $ (19,787) $ (21,157)
    Deferred tax asset 13,636 15,027    
Allowance for credit losses on off-balance sheet exposures (597)    
Retained earnings, net of tax $ (136,993) (127,982)    
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]        
Loans [1]   1,991,389    
   Allowance for credit losses on loans [4]   (21,113)    
    Deferred tax asset   15,023    
Allowance for credit losses on off-balance sheet exposures   (918)    
Retained earnings, net of tax   (127,991)    
Cumulative Effect, Period of Adoption, Adjustment [Member]        
Loans [1]   2,113    
   Allowance for credit losses on loans [4]   (1,182)    
    Deferred tax asset   (4)    
Allowance for credit losses on off-balance sheet exposures   (918)    
Retained earnings, net of tax   $ (9)    
[1] Purchase credit deteriorated (“PCD loans”) gross up of cost basis of loans totaled $422,000 for commercial real estate loans and $1,691,000 for commercial and industrial loans.
[2] The Company adopted ASU 2016-13 on January 1, 2023 with a modified retrospective approach. Accordingly, beginning at January 1, 2023, the allowance for credit losses was determined in accordance with ASC 326, “Financial Instruments-Credit Losses.”
[3] The balance of $7.5 million in accrued interest receivable is excluded from amortized cost and the calculation of the allowance for credit losses at December 31, 2023.
[4] Increase to allowance for credit losses on loans of $2,113,000 for PCD loans gross up and a decrease of $931,000 for pooled loans through retained earnings.