Allowance For Credit Losses (Tables)

3 Months Ended

Mar. 31, 2024

Financing Receivable, Allowance for Credit Loss

The following table summarizes the activity in the allowance for credit losses, by portfolio loan classification, for the three months ended March 31, 2024 and 2023 (in thousands). The allocation of a portion of the allowance in one portfolio segment does not preclude its availability to absorb losses in other portfolio segments.


	Beginning Balance		Impact of Adopting ASU 2022-02		PCD Loan Reserves		Charge-offs		Recoveries		Provision for (recovery of) credit losses		Ending Balance
Three months ended March 31, 2024
Commercial and industrial	$	4,474	$	—	$	—	$	(306)	$	25	$	82	$	4,275

1-4 Family	1,402		—		—		(31)		11		12		1,394
Hotels	2,211		—		—		—		—		46		2,257
Multi-family	1,002		—		—		—		—		(3)		999
Non Residential Non-Owner Occupied	4,077		—		—		—		—		(65)		4,012
Non Residential Owner Occupied	2,453		—		—		—		—		(32)		2,421
Commercial real estate	11,145		—		—		(31)		11		(42)		11,083

Residential real estate	5,398		—		—		(19)		49		(291)		5,137
Home equity	490		—		—		(27)		9		35		507
Consumer	269		—		—		(115)		98		174		426
DDA overdrafts	969		—		—		(356)		407		(138)		882
	$	22,745	$	—	$	—	$	(854)	$	599	$	(180)	$	22,310

Three months ended March 31, 2023
Commercial and industrial	$	3,565	$	12	$	—	$	—	$	83	$	626	$	4,286

1-4 Family	566		(1)		—		(3)		14		37		613
Hotels	2,332		—		—		—		—		(148)		2,184
Multi-family	380		—		500		—		—		147		1,027
Non Residential Non-Owner Occupied	2,019		—		1,536		—		144		1,225		4,924
Non Residential Owner Occupied	1,315		—		775		—		—		347		2,437
Commercial real estate	6,612		(1)		2,811		(3)		158		1,608		11,185

Residential real estate	5,430		(138)		—		(32)		10		214		5,484
Home equity	290		(46)		—		(67)		4		219		400
Consumer	110		(2)		—		(62)		23		302		371
DDA Overdrafts	1,101		—		—		(450)		398		(51)		998
	$	17,108	$	(175)	$	2,811	$	(614)	$	676	$	2,918	$	22,724

Financing Receivable, Nonaccrual

The following table presents the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of March 31, 2024 (in thousands):


	Non-accrual With No		Non-accrual With		Loans Past Due
	Allowance for		Allowance for		Over 90 Days
	Credit Losses		Credit Losses		Still Accruing
Commercial & Industrial	$	—	$	3,405	$	—

1-4 Family	—		672		—
Hotels	—		—		—
Multi-family	—		—		—
Non Residential Non-Owner Occupied	—		410		—
Non Residential Owner Occupied	—		2,725		—
Commercial Real Estate	—		3,807		—

Residential Real Estate	—		3,452		—
Home Equity	—		121		—
Consumer	—		1		—
Total	$	—	$	10,786	$	—

The following table presents the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2023 (in thousands):


	Non-accrual With No		Non-accrual With		Loans Past Due
	Allowance for		Allowance for		Over 90 Days
	Credit Losses		Credit Losses		Still Accruing
Commercial & Industrial	$	1,000	$	1,211	$	—

1-4 Family	—		521		—
Hotels	—		—		—
Multi-family	—		—		—
Non Residential Non-Owner Occupied	—		446		—
Non Residential Owner Occupied	—		1,420		—
Commercial Real Estate	—		2,387		—

Residential Real Estate	—		2,849		214
Home Equity	—		111		56
Consumer	—		—		—
Total	$	1,000	$	6,558	$	270

Financing Receivable, Past Due

The following tables present the aging of the amortized cost basis in past-due loans as of March 31, 2024 and December 31, 2023 by class of loan (in thousands):


	March 31, 2024
	30-59		60-89		90+		Total		Current		Non-		Total
	Past Due		Past Due		Past Due		Past Due		Loans		accrual		Loans
Commercial and industrial	$	25	$	—	$	—	$	25	$	404,340	$	3,405	$	407,770

1-4 Family	—		—		—		—		201,706		672		202,378
Hotels	—		—		—		—		354,929		—		354,929
Multi-family	—		—		—		—		186,555		—		186,555
Non Residential Non-Owner Occupied	138		—		—		138		682,061		410		682,609
Non Residential Owner Occupied	—		—		—		—		229,715		2,725		232,440
Commercial real estate	138		—		—		138		1,654,966		3,807		1,658,911

Residential real estate	4,876		159		—		5,035		1,778,277		3,452		1,786,764
Home Equity	854		174		—		1,028		170,143		121		171,292
Consumer	65		10		—		75		63,480		1		63,556
Overdrafts	403		3		—		406		3,089		—		3,495
Total	$	6,361	$	346	$	—	$	6,707	$	4,074,295	$	10,786	$	4,091,788


	December 31, 2023
	30-59		60-89		90+		Total		Current		Non-		Total
	Past Due		Past Due		Past Due		Past Due		Loans		accrual		Loans
Commercial and industrial	$	185	$	250	$	—	$	435	$	424,305	$	2,211	$	426,951

1-4 Family	67		25		—		92		205,624		521		206,237
Hotels	—		—		—		—		357,142		—		357,142
Multi-family	—		—		—		—		189,165		—		189,165
Non Residential Non-Owner Occupied	—		—		—		—		680,144		446		680,590
Non Residential Owner Occupied	623		—		—		623		238,285		1,420		240,328
Commercial real estate	690		25		—		715		1,670,360		2,387		1,673,462

Residential real estate	7,034		811		214		8,059		1,777,241		2,849		1,788,149
Home Equity	1,020		159		56		1,235		165,855		111		167,201
Consumer	129		—		—		129		65,117		—		65,246
Overdrafts	355		9		—		364		4,550		—		4,914
Total	$	9,413	$	1,254	$	270	$	10,937	$	4,107,428	$	7,558	$	4,125,923

Financing Receivable, Credit Quality Indicators

Based on the most recent analysis performed, the risk category of loans by class of loans at March 31, 2024 and December 31, 2023 is as follows (in thousands), with the loans acquired from Citizens categorized by their origination date:


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial and industrial
Pass	$	11,932	$	66,867	$	46,209	$	72,430	$	41,097	$	39,592	$	99,859	$	377,986
Special mention	—		—		—		—		—		13		—		13
Substandard	378		571		2,609		720		579		2,385		22,529		29,771
Total	$	12,310	$	67,438	$	48,818	$	73,150	$	41,676	$	41,990	$	122,388	$	407,770
YTD Gross Charge-offs	$	—	$	—	$	—	$	56	$	—	$	—	$	250	$	306



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial and industrial
Pass	$	70,494	$	47,473	$	76,605	$	47,688	$	21,820	$	18,328	$	111,546	$	393,954
Special mention	—		33		—		2,600		22		—		70		2,725
Substandard	379		2,748		854		775		923		1,538		23,055		30,272
Total	$	70,873	$	50,254	$	77,459	$	51,063	$	22,765	$	19,866	$	134,671	$	426,951



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
1-4 Family
Pass	$	7,065	$	37,204	$	52,219	$	30,773	$	20,261	$	38,973	$	11,437	$	197,932
Special mention	—		559		436		—		920		648		248		2,811
Substandard	—		—		75		—		247		1,313		—		1,635
Total	$	7,065	$	37,763	$	52,730	$	30,773	$	21,428	$	40,934	$	11,685	$	202,378
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	31	$	—	$	31



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
1-4 Family
Pass	$	38,143	$	53,907	$	32,058	$	21,363	$	12,073	$	29,846	$	13,967	$	201,357
Special mention	565		451		—		1,167		—		730		250		3,163
Substandard	—		77		—		250		131		1,259		—		1,717
Total	$	38,708	$	54,435	$	32,058	$	22,780	$	12,204	$	31,835	$	14,217	$	206,237


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Hotels
Pass	$	1,283	$	47,491	$	81,289	$	32,956	$	3,206	$	158,679	$	301	$	325,205
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		3,991		25,733		—		29,724
Total	$	1,283	$	47,491	$	81,289	$	32,956	$	7,197	$	184,412	$	301	$	354,929
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Hotels
Pass	$	47,739	$	82,200	$	33,560	$	3,327	$	58,384	$	101,740	$	305	$	327,255
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		4,020		23,604		2,263		—		29,887
Total	$	47,739	$	82,200	$	33,560	$	7,347	$	81,988	$	104,003	$	305	$	357,142



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Multi-family
Pass	$	719	$	7,177	$	20,881	$	27,328	$	63,118	$	66,753	$	579	$	186,555
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Total	$	719	$	7,177	$	20,881	$	27,328	$	63,118	$	66,753	$	579	$	186,555
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Multi-family
Pass	$	6,925	$	21,320	$	28,268	$	63,750	$	38,007	$	29,814	$	1,081	$	189,165
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Total	$	6,925	$	21,320	$	28,268	$	63,750	$	38,007	$	29,814	$	1,081	$	189,165






													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Non-Owner Occupied
Pass	$	7,100	$	117,981	$	117,295	$	97,393	$	56,351	$	228,071	$	27,051	$	651,242
Special mention	—		—		—		99		655		24,730		—		25,484
Substandard	—		—		—		144		2,217		3,522		—		5,883
Total	$	7,100	$	117,981	$	117,295	$	97,636	$	59,223	$	256,323	$	27,051	$	682,609
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Non-Owner Occupied
Pass	$	117,515	$	119,382	$	99,210	$	59,083	$	64,332	$	156,941	$	32,111	$	648,574
Special mention	—		—		102		731		165		24,747		—		25,745
Substandard	—		—		145		2,395		79		3,652		—		6,271
Total	$	117,515	$	119,382	$	99,457	$	62,209	$	64,576	$	185,340	$	32,111	$	680,590



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Owner Occupied
Pass	$	4,098	$	42,164	$	30,613	$	40,609	$	16,334	$	71,192	$	2,673	$	207,683
Special mention	—		—		—		153		—		3,216		86		3,455
Substandard	—		3,890		887		1,984		1,179		12,998		364		21,302
Total	$	4,098	$	46,054	$	31,500	$	42,746	$	17,513	$	87,406	$	3,123	$	232,440
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Owner Occupied
Pass	$	41,481	$	34,320	$	42,203	$	16,990	$	21,772	$	52,363	$	6,060	$	215,189
Special mention	—		—		164		—		2,880		431		188		3,663
Substandard	3,957		909		2,010		1,212		1,335		11,792		261		21,476
Total	$	45,438	$	35,229	$	44,377	$	18,202	$	25,987	$	64,586	$	6,509	$	240,328


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Total
Pass	$	20,265	$	252,016	$	302,297	$	229,059	$	159,269	$	563,667	$	42,045	$	1,568,618
Special mention	—		559		436		252		1,574		28,594		334		31,749
Substandard	—		3,890		962		2,128		7,634		43,566		364		58,544
Total	$	20,265	$	256,465	$	303,695	$	231,439	$	168,477	$	635,827	$	42,743	$	1,658,911
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	31	$	—	$	31


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Total
Pass	$	251,802	$	311,129	$	235,298	$	164,514	$	194,569	$	370,704	$	53,522	$	1,581,538
Special mention	565		451		266		1,898		3,045		25,909		438		32,572
Substandard	3,957		986		2,155		7,877		25,148		18,968		261		59,352
Total	$	256,324	$	312,566	$	237,719	$	174,289	$	222,762	$	415,581	$	54,221	$	1,673,462


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Residential real estate
Performing	$	41,448	$	228,544	$	384,545	$	307,583	$	243,604	$	505,442	$	72,281	$	1,783,447
Non-performing	—		—		137		183		360		2,072		565		3,317
Total	$	41,448	$	228,544	$	384,682	$	307,766	$	243,964	$	507,514	$	72,846	$	1,786,764
YTD Gross Charge-offs	$	—	$	—	$	18	$	—	$	—	$	1	$	—	$	19

													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Residential real estate
Performing	$	234,802	$	392,865	$	314,617	$	250,030	$	109,736	$	410,925	$	72,324	$	1,785,299
Non-performing	$	161	$	119	$	183	$	26	$	713	$	1,349	$	299	$	2,850
Total	$	234,963	$	392,984	$	314,800	$	250,056	$	110,449	$	412,274	$	72,623	$	1,788,149



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Home equity
Performing	$	6,265	$	28,636	$	13,355	$	5,874	$	3,521	$	7,507	$	105,878	$	171,036
Non-performing	—		—		—		—		14		—		242		256
Total	$	6,265	$	28,636	$	13,355	$	5,874	$	3,535	$	7,507	$	106,120	$	171,292
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	19	$	8	$	27



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Home equity
Performing	$	29,611	$	13,921	$	6,218	$	3,826	$	2,510	$	5,108	$	105,896	$	167,090
Non-performing	—		—		—		14		—		—		97		111
Total	$	29,611	$	13,921	$	6,218	$	3,840	$	2,510	$	5,108	$	105,993	$	167,201



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Consumer
Performing	$	6,125	$	29,723	$	15,947	$	3,920	$	2,699	$	3,029	$	2,113	$	63,556
Non-performing	—		—		—		—		—		—		—		—
Total	$	6,125	$	29,723	$	15,947	$	3,920	$	2,699	$	3,029	$	2,113	$	63,556
YTD Gross Charge-offs	$	—	$	14	$	29	$	—	$	—	$	71	$	1	$	115



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Consumer
Performing	$	33,700	$	18,293	$	4,531	$	3,148	$	2,120	$	1,645	$	1,809	$	65,246
Non-performing	—		—		—		—		—		—		—		—
Total	$	33,700	$	18,293	$	4,531	$	3,148	$	2,120	$	1,645	$	1,809	$	65,246