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Loans and Allowance for Loan Losses (Tables)
 12 Months Ended
Dec. 31, 2019
Receivables [Abstract]  
Composition of Loan Portfolio, Excluding Residential Loans Held for Sale
The composition of the Company’s loan portfolio, excluding residential loans held for sale, was as follows for the dates indicated:
 
 
December 31,
(In thousands)
 
2019
 
2018
Residential real estate
 
$
1,070,374

 
$
992,866

Commercial real estate
 
1,243,397

 
1,269,533

Commercial
 
421,108

 
381,780

Home equity
 
312,779

 
327,763

Consumer
 
25,772

 
20,624

HPFC
 
21,593

 
33,656

Total loans
 
$
3,095,023

 
$
3,026,222
Schedule of Loan Balances for Each Portfolio Segment
The loan balances for each portfolio segment presented above are net of their respective net unamortized fair value mark discount on acquired loans and net unamortized loan origination costs for the dates indicated:
 
 
December 31,
(In thousands)
 
2019
 
2018
Net unamortized fair value mark discount on acquired loans
 
$
2,593

 
$
3,936

Net unamortized loan origination costs
 
(3,111
)
 
(1,865
)
Total
 
$
(518
)
 
$
2,071
Activity in Allowance for Loan Losses by Portfolio Segment
The following table presents the activity in the ALL and select loan information by portfolio segment for the periods indicated:
(In thousands)
 
Residential Real Estate
 
Commercial Real Estate
 
Commercial
 
Home Equity
 
Consumer
 
HPFC
 
Total
At or For the Year Ended
  December 31, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ALL:
 
  

 
  

 
  

 
  

 
  

 
 
 
  

Beginning balance
 
$
6,071

 
$
11,654

 
$
3,620

 
$
2,796

 
$
234

 
$
337

 
$
24,712

Loans charged off
 
(462
)
 
(300
)
 
(1,167
)
 
(412
)
 
(301
)
 
(71
)
 
(2,713
)
Recoveries
 
16

 
49

 
225

 
1

 
19

 
—

 
310

Provision (credit)(1)
 
217

 
1,011

 
1,091

 
38

 
555

 
(50
)
 
2,862

Ending balance
 
$
5,842

 
$
12,414

 
$
3,769

 
$
2,423

 
$
507

 
$
216

 
$
25,171

ALL balance attributable loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
364

 
$
30

 
$
—

 
$
69

 
$
—

 
$
—

 
$
463

Collectively evaluated for impairment
 
5,478

 
12,384

 
3,769

 
2,354

 
507

 
216

 
24,708

Total ending ALL
 
$
5,842

 
$
12,414

 
$
3,769

 
$
2,423

 
$
507

 
$
216

 
$
25,171

Loans:
 
  

 
  

 
  

 
  

 
  

 
 
 
  

Individually evaluated for impairment
 
$
3,384

 
$
402

 
$
319

 
$
373

 
$
—

 
$
—

 
$
4,478

Collectively evaluated for impairment
 
1,066,990

 
1,242,995

 
420,789

 
312,406

 
25,772

 
21,593

 
3,090,545

Total loan balances
 
$
1,070,374

 
$
1,243,397

 
$
421,108

 
$
312,779

 
$
25,772

 
$
21,593

 
$
3,095,023

At or For the Year Ended
  December 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ALL:
 
  

 
  

 
  

 
  

 
  

 
 
 
  

Beginning balance
 
$
5,086

 
$
11,863

 
$
4,171

 
$
2,367

 
$
233

 
$
451

 
$
24,171

Loans charged off
 
(173
)
 
(512
)
 
(736
)
 
(476
)
 
(96
)
 
(255
)
 
(2,248
)
Recoveries
 
90

 
28

 
1,770

 
44

 
11

 
1

 
1,944

Provision (credit)(1)
 
1,068

 
275

 
(1,585
)
 
861

 
86

 
140

 
845

Ending balance
 
$
6,071

 
$
11,654

 
$
3,620

 
$
2,796

 
$
234

 
$
337

 
$
24,712

ALL balance attributable loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
586

 
$
23

 
$
53

 
$
162

 
$
—

 
$
—

 
$
824

Collectively evaluated for impairment
 
5,485

 
11,631

 
3,567

 
2,634

 
234

 
337

 
23,888

Total ending ALL
 
$
6,071

 
$
11,654

 
$
3,620

 
$
2,796

 
$
234

 
$
337

 
$
24,712

Loans:
 
  

 
  

 
  

 
  

 
  

 
 
 
  

Individually evaluated for impairment
 
$
4,762

 
$
930

 
$
786

 
$
442

 
$
6

 
$
—

 
$
6,926

Collectively evaluated for impairment
 
988,104

 
1,268,603

 
380,994

 
327,321

 
20,618

 
33,656

 
3,019,296

Total loan balances
 
$
992,866

 
$
1,269,533

 
$
381,780

 
$
327,763

 
$
20,624

 
$
33,656

 
$
3,026,222

(In thousands)
 
Residential Real Estate
 
Commercial Real Estate
 
Commercial
 
Home Equity
 
Consumer
 
HPFC
 
Total
At or For the Year Ended
  December 31, 2017:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
ALL:
 
  

 
  

 
  

 
  

 
  

 
 
 
  

Beginning balance
 
$
4,160

 
$
12,154

 
$
3,755

 
$
2,194

 
$
181

 
$
672

 
$
23,116

Loans charged off
 
(482
)
 
(124
)
 
(1,014
)
 
(434
)
 
(124
)
 
(290
)
 
(2,468
)
Recoveries
 
30

 
141

 
301

 
2

 
17

 
6

 
497

Provision (credit)(1)
 
1,378

 
(308
)
 
1,129

 
605

 
159

 
63

 
3,026

Ending balance
 
$
5,086

 
$
11,863

 
$
4,171

 
$
2,367

 
$
233

 
$
451

 
$
24,171

ALL balance attributable loans:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Individually evaluated for impairment
 
$
568

 
$
1,441

 
$
—

 
$
—

 
$
—

 
$
—

 
$
2,009

Collectively evaluated for impairment
 
4,518

 
10,422

 
4,171

 
2,367

 
233

 
451

 
22,162

Total ending ALL
 
$
5,086

 
$
11,863

 
$
4,171

 
$
2,367

 
$
233

 
$
451

 
$
24,171

Loans:
 
  

 
  

 
  

 
  

 
  

 
 
 
  

Individually evaluated for impairment
 
$
5,171

 
$
6,199

 
$
1,791

 
$
429

 
$
—

 
$
—

 
$
13,590

Collectively evaluated for impairment
 
853,198

 
1,157,824

 
371,609

 
322,949

 
18,149

 
45,120

 
2,768,849

Total loan balances
 
$
858,369

 
$
1,164,023

 
$
373,400

 
$
323,378

 
$
18,149

 
$
45,120

 
$
2,782,439

(1)
The provision (credit) for loan losses excludes any impact for the change in the reserve for unfunded commitments, which represents management's estimate of the amount required to reflect the probable inherent losses on outstanding letters of credit and unused lines of credit. The reserve for unfunded commitments was presented within accrued interest and other liabilities on the consolidated statements of condition. At December 31, 2019, 2018, and 2017, the reserve for unfunded commitments was $21,000, $22,000 and $20,000, respectively.
Schedule of Provision for Credit Losses
The following table reconciles the provision for loan losses to the provision for credit losses as presented on the consolidated statement of income for the periods indicated:
 
 
For the Year Ended
December 31,
(In thousands)
 
2019
 
2018
 
2017
Provision for loan losses
 
$
2,862

 
$
845

 
$
3,026

Change in reserve for unfunded commitments
 
(1
)
 
2

 
9

Provision for credit losses
 
$
2,861

 
$
847

 
$
3,035
Credit Risk Exposure Indicators by Portfolio Segment
The following table summarizes credit risk exposure indicators by portfolio segment as of the following dates:
(In thousands)
 
Residential Real Estate
 
Commercial Real Estate
 
Commercial
 
Home Equity
 
Consumer
 
HPFC
 
Total
December 31, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass (Grades 1 – 6)
 
$
1,062,825

 
$
1,196,683

 
$
415,870

 
$
—

 
$
—

 
$
20,667

 
$
2,696,045

Performing
 
—

 
—

 
—

 
310,653

 
25,748

 
—

 
336,401

Special Mention (Grade 7)
 
473

 
31,753

 
2,544

 
—

 
—

 
89

 
34,859

Substandard (Grade 8)
 
7,076

 
14,961

 
2,694

 
—

 
—

 
837

 
25,568

Non-performing
 
—

 
—

 
—

 
2,126

 
24

 
—

 
2,150

Total
 
$
1,070,374

 
$
1,243,397

 
$
421,108

 
$
312,779

 
$
25,772

 
$
21,593

 
$
3,095,023

December 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Pass (Grades 1 – 6)
 
$
983,086

 
$
1,247,190

 
$
374,429

 
$
—

 
$
—

 
$
32,261

 
$
2,636,966

Performing
 
—

 
—

 
—

 
325,917

 
20,595

 
—

 
346,512

Special Mention (Grade 7)
 
887

 
7,921

 
3,688

 
—

 
—

 
123

 
12,619

Substandard (Grade 8)
 
8,893

 
14,422

 
3,663

 
—

 
—

 
1,272

 
28,250

Non-performing
 
—

 
—

 
—

 
1,846

 
29

 
—

 
1,875

Total
 
$
992,866

 
$
1,269,533

 
$
381,780

 
$
327,763

 
$
20,624

 
$
33,656

 
$
3,026,222
Loan Aging Analysis by Portfolio Segment (Including Loans Past Due Over Ninety Days and Non Accrual Loans) and Summary of Non Accrual Loans, Which Include Troubled Debt Restructured Loans, and Loans Past Due Over Ninety Days and Accruing
The following is a loan aging analysis by portfolio segment (including loans past due over 90 days and non-accrual loans) and a summary of non-accrual loans, which include TDRs, and loans past due over 90 days and accruing as of the following dates:
(In thousands)
 
30 –  59 Days Past Due
 
60 – 89 Days Past Due
 
Greater Than 90 Days
 
Total Past Due
 
Current
 
Total Loans Outstanding
 
Loans > 90 Days Past Due and Accruing
 
Non-Accrual Loans
December 31, 2019:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate
 
$
2,297

 
$
627

 
$
2,598

 
$
5,522

 
$
1,064,852

 
$
1,070,374

 
$
—

 
$
4,096

Commercial real estate
 
267

 
1,720

 
544

 
2,531

 
1,240,866

 
1,243,397

 
—

 
1,122

Commercial
 
548

 
—

 
417

 
965

 
420,143

 
421,108

 
—

 
420

Home equity
 
681

 
238

 
1,459

 
2,378

 
310,401

 
312,779

 
—

 
2,130

Consumer
 
108

 
31

 
23

 
162

 
25,610

 
25,772

 
—

 
24

HPFC
 
—

 
243

 
288

 
531

 
21,062

 
21,593

 
—

 
364

Total
 
$
3,901

 
$
2,859

 
$
5,329

 
$
12,089

 
$
3,082,934

 
$
3,095,023

 
$
—

 
$
8,156

December 31, 2018:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Residential real estate
 
$
3,300

 
$
2,046

 
$
4,520

 
$
9,866

 
$
983,000

 
$
992,866

 
$
—

 
$
5,492

Commercial real estate
 
1,794

 
369

 
1,108

 
3,271

 
1,266,262

 
1,269,533

 
—

 
1,380

Commercial
 
150

 
19

 
799

 
968

 
380,812

 
381,780

 
—

 
1,279

Home equity
 
907

 
607

 
1,476

 
2,990

 
324,773

 
327,763

 
—

 
1,846

Consumer
 
67

 
15

 
29

 
111

 
20,513

 
20,624

 
14

 
15

HPFC
 
—

 
183

 
423

 
606

 
33,050

 
33,656

 
—

 
518

Total
 
$
6,218

 
$
3,239

 
$
8,355

 
$
17,812

 
$
3,008,410

 
$
3,026,222

 
$
14

 
$
10,530
Troubled Debt Restructuring and Specific Reserve Related to TDRs
The following is a summary of TDRs, by portfolio segment, and the associated specific reserve included within the ALL for the dates indicated:
 
 
Number of Contracts
 
Recorded Investment
 
Specific Reserve
(In thousands, except number of contracts)
 
December 31,
 
December 31,
 
December 31,
 
2019
 
2018
 
2019
 
2018
 
2019
 
2018
Residential real estate
 
22

 
25

 
$
2,869

 
$
3,614

 
$
364

 
$
443

Commercial real estate
 
2

 
2

 
338

 
347

 
30

 
23

Commercial
 
2

 
2

 
123

 
141

 
—

 
—

Consumer and home equity
 
1

 
2

 
299

 
304

 
69

 
162

Total
 
27

 
31

 
$
3,629

 
$
4,406

 
$
463

 
$
628
Summary of All Troubled Debt Restructuring Loans (Accruing and Non Accruing) by Portfolio Segment
The following represents loan modifications that qualify as TDRs that occurred during the periods indicated:
 
 
Number of Contracts
 
Pre-Modification
Outstanding
Recorded Investment
 
Post-Modification
Outstanding
Recorded Investment
 
Specific Reserve
(In thousands, except number of contracts)
 
For the Year Ended December 31,
 
For the Year Ended December 31,
 
For the Year Ended December 31,
 
For the Year Ended December 31,
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
 
2019
 
2018
 
2017
Residential real estate:
 


 


 
 
 


 


 
 
 


 


 
 
 


 


 
 
Maturity concession
 
—

 
—

 
2

 
$
—

 
$
—

 
$
298

 
$
—

 
$
—

 
$
298

 
$
—

 
$
—

 
$
15

Interest rate concession
 
—

 
—

 
1

 
—

 
—

 
134

 
—

 
—

 
145

 
—

 
—

 
—

Interest rate and maturity concession
 
2

 
2

 
1

 
64

 
231

 
148

 
69

 
254

 
156

 
15

 
50

 
30

Payment deferral
 
—

 
1

 
—

 
—

 
166

 
—

 
—

 
166

 
—

 
—

 
45

 
—

Home equity:
 


 


 
 
 


 


 
 
 


 


 
 
 


 


 
 
Interest rate and maturity concession
 
—

 
—

 
1

 
—

 
—

 
315

 
—

 
—

 
315

 
—

 
—

 
—

Total
 
2

 
3

 
5

 
$
64

 
$
397

 
$
895

 
$
69

 
$
420


$
914

 
$
15

 
$
95

 
$
45
Summary of Impaired Loan Balances and Associated Allowance by Portfolio Segment
The following is a summary of impaired loan balances and the associated allowance by portfolio segment as of and for the periods indicated:
 
 
 
 
 
 
 
 
For the Year Ended
(In thousands)
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized
December 31, 2019:
 
 
 
 
 
 
 
 
 
 
With related allowance recorded:
 
  

 
  

 
  

 
  

 
  

Residential real estate
 
$
2,395

 
$
2,395

 
$
364

 
$
2,989

 
$
110

Commercial real estate
 
128

 
128

 
30

 
130

 
11

Commercial
 
—

 
—

 
—

 
292

 
—

Home equity
 
318

 
318

 
69

 
522

 
—

Consumer
 
—

 
—

 
—

 
—

 
—

HPFC
 
—

 
—

 
—

 
—

 
—

Ending balance
 
2,841

 
2,841

 
463

 
3,933

 
121

Without related allowance recorded:
 
  

 
  

 
  

 
  

 
  

Residential real estate
 
989

 
1,116

 
—

 
1,258

 
21

Commercial real estate
 
274

 
433

 
—

 
381

 
13

Commercial
 
319

 
685

 
—

 
238

 
7

Home equity
 
55

 
192

 
—

 
115

 
—

Consumer
 
—

 
—

 
—

 
1

 
—

HPFC
 
—

 
—

 
—

 
—

 
—

Ending balance
 
1,637

 
2,426

 
—

 
1,993

 
41

Total impaired loans
 
$
4,478

 
$
5,267

 
$
463

 
$
5,926

 
$
162

December 31, 2018:
 
 
 
 
 
 
 
 
 
 
With related allowance recorded:
 
  

 
  

 
  

 
  

 
  

Residential real estate
 
$
3,471

 
$
3,471

 
$
586

 
$
3,591

 
$
127

Commercial real estate
 
131

 
131

 
23

 
1,969

 
11

Commercial
 
556

 
556

 
53

 
111

 
—

Home equity
 
318

 
318

 
162

 
250

 
—

Consumer
 
—

 
—

 
—

 
—

 
—

HPFC
 
—

 
—

 
—

 
—

 
—

Ending balance
 
4,476

 
4,476

 
824

 
5,921

 
138

Without related allowance recorded:
 
  

 
  

 
  

 
  

 
  

Residential real estate
 
1,291

 
1,415

 
—

 
1,524

 
34

Commercial real estate
 
799

 
975

 
—

 
2,269

 
13

Commercial
 
230

 
293

 
—

 
1,379

 
8

Home equity
 
124

 
305

 
—

 
195

 
—

Consumer
 
6

 
13

 
—

 
1

 
—

HPFC
 
—

 
—

 
—

 
—

 
—

Ending balance
 
2,450

 
3,001

 
—

 
5,368

 
55

Total impaired loans
 
$
6,926

 
$
7,477

 
$
824

 
$
11,289

 
$
193

 
 
 
 
 
 
 
 
For the Year Ended
(In thousands)
 
Recorded Investment
 
Unpaid Principal Balance
 
Related Allowance
 
Average Recorded Investment
 
Interest Income Recognized
December 31, 2017:
 
 
 
 
 
 
 
 
 
 
With related allowance recorded:
 
  

 
  

 
  

 
  

 
  

Residential real estate
 
$
3,858

 
$
3,858

 
$
568

 
$
3,177

 
$
131

Commercial real estate
 
5,422

 
5,422

 
1,441

 
8,900

 
22

Commercial
 
—

 
—

 
—

 
31

 
—

Home equity
 
—

 
—

 
—

 
125

 
—

Consumer
 
—

 
—

 
—

 
—

 
—

HPFC
 
—

 
—

 
—

 
24

 
—

Ending balance
 
9,280

 
9,280

 
2,009

 
12,257

 
153

Without related allowance recorded:
 
  

 
  

 
  

 
  

 
  

Residential real estate
 
1,313

 
1,673

 
—

 
1,345

 
15

Commercial real estate
 
777

 
1,084

 
—

 
1,132

 
29

Commercial
 
1,791

 
2,964

 
—

 
1,920

 
10

Home equity
 
429

 
495

 
—

 
310

 
8

Consumer
 
—

 
—

 
—

 
2

 
—

HPFC
 
—

 
—

 
—

 
—

 
—

Ending balance
 
4,310

 
6,216

 
—

 
4,709

 
62

Total impaired loans
 
$
13,590

 
$
15,496

 
$
2,009

 
$
16,966

 
$
215