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Loans and Allowance for Credit Losses on Loans (Tables)
 12 Months Ended
Dec. 31, 2023
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)20232022
Commercial Loans:
Commercial real estate - non-owner-occupied$1,370,446 $1,292,443 
Commercial real estate - owner-occupied301,860 332,494 
Commercial403,901 430,131 
Total commercial loans2,076,207 2,055,068 
Retail Loans:
Residential real estate1,763,378 1,700,266 
Home equity240,341 234,428 
Consumer18,168 20,591 
Total retail loans2,021,887 1,955,285 
Total loans$4,098,094 $4,010,353 
Schedule of Loan Balances for Each Portfolio Segment
The loan balances for each portfolio segment presented above are net of their respective net unamortized fair value mark discount on acquired loans and net unamortized loan origination costs for the dates indicated:
December 31,
(In thousands)
2023
2022
Net unamortized fair value mark discount on acquired loans$(168)$(313)
Net unamortized loan origination costs
7,113 6,890 
Total$6,945 $6,577 
Activity in Allowance for Loan Losses by Portfolio Segment The following table presents the activity in the ACL on loans, as reported under CECL, for the periods indicated:
Commercial Real Estate
(In thousands)Non-Owner-OccupiedOwner- OccupiedCommercialResidential Real EstateHome EquityConsumerTotal
At or For the Year Ended December 31, 2023
Beginning balance, December 31, 2022
$17,296 $2,362 $5,446 $9,089 $2,225 $504 $36,922 
Loans charged-off— (58)(1,560)(18)— (91)(1,727)
Recoveries19 — 471 44 1 31 566 
(Credit) provision for loan losses(734)(14)512 1,139 (9)280 1,174 
Ending balance, December 31, 2023
$16,581 $2,290 $4,869 $10,254 $2,217 $724 $36,935 
At or For the Year Ended December 31, 2022
Beginning balance, December 31, 2021
$18,834 $2,539 $4,202 $6,133 $1,469 $79 $33,256 
Loans charged-off— — (1,042)(66)— (134)(1,242)
Recoveries3 2 379 — 87 7 478 
(Credit) provision for loan losses(1,541)(179)1,907 3,022 669 552 4,430 
Ending balance, December 31, 2022
$17,296 $2,362 $5,446 $9,089 $2,225 $504 $36,922 
Credit Risk Exposure Indicators by Portfolio Segment
Based on the most recent analysis performed, the risk category of loans by portfolio segment by vintage, reported under the CECL methodology, was as follows as of the periods indicated:
(In thousands)
2023
2022202120202019PriorRevolving Loans
Amortized Cost Basis		Revolving Loans
Converted to Term		Total
As of December 31, 2023
Commercial real estate - non-owner-occupied      
Risk rating:
Pass (Grades 1-6)$103,012 $364,777 $296,152 $146,707 $116,777 $320,101 $— $— $1,347,526 
Special mention (Grade 7)7,997 — — 350 33 3,597 — — 11,977 
Substandard (Grade 8)747 450 — 2,287 114 7,345 — — 10,943 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - non-owner-occupied$111,756 $365,227 $296,152 $149,344 $116,924 $331,043 $— $— $1,370,446 
Gross charge-offs for the year ended
$— $— $— $— $— $— $— $— $— 
Commercial real estate - owner-occupied 
Risk rating:
Pass (Grades 1-6)$26,902 $53,550 $76,575 $24,608 $18,728 $89,133 $— $— $289,496 
Special mention (Grade 7)— — 2,355 — — 141 — — 2,496 
Substandard (Grade 8)— 402 320 — — 9,146 — — 9,868 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - owner-occupied$26,902 $53,952 $79,250 $24,608 $18,728 $98,420 $— $— $301,860 
Gross charge-offs for the year ended$— $— $— $— $— $58 $— $— $58 
Commercial
 
Risk rating:
Pass (Grades 1-6)$41,871 $54,323 $56,102 $24,338 $25,620 $35,442 $119,119 $36,895 $393,710 
Special mention (Grade 7)45 — 152 195 — 101 660 5 1,158 
Substandard (Grade 8)248 588 296 769 955 1,354 2,415 2,408 9,033 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial$42,164 $54,911 $56,550 $25,302 $26,575 $36,897 $122,194 $39,308 $403,901 
Gross charge-offs for the year ended
$— $68 $137 $31 $20 $1,075 $82 $147 $1,560 
Residential Real Estate  
Risk rating:
Pass (Grades 1-6)$160,315 $539,835 $540,980 $220,943 $70,917 $226,126 $370 $386 $1,759,872 
Special mention (Grade 7)— — — — — — — — — 
Substandard (Grade 8)— — 963 — 89 2,454 — — 3,506 
Doubtful (Grade 9)— — — — — — — — — 
Total residential real estate$160,315 $539,835 $541,943 $220,943 $71,006 $228,580 $370 $386 $1,763,378 
Gross charge-offs for the year ended
$— $— $— $— $— $18 $— $— $18 
Home equity
  
Risk rating:
Performing$15,976 $23,104 $547 $324 $4,124 $12,686 $169,416 $13,405 $239,582 
Non-performing— — — — — 11 527 221 759 
Total home equity$15,976 $23,104 $547 $324 $4,124 $12,697 $169,943 $13,626 $240,341 
Gross charge-offs for the year ended
$— $— $— $— $— $— $— $— $— 
Consumer
  
Risk rating:
Performing$5,525 $4,908 $2,068 $815 $345 $2,279 $2,191 $— $18,131 
Non-performing— — 5 — — 32 — — 37 
Total consumer$5,525 $4,908 $2,073 $815 $345 $2,311 $2,191 $— $18,168 
Gross charge-offs for the year ended$2 $19 $31 $14 $8 $4 $13 $— $91 
(In thousands)
2022
2021202020192018PriorRevolving Loans
Amortized Cost Basis		Revolving Loans
Converted to Term		Total
As of December 31, 2022
Commercial real estate - non-owner-occupied      
Risk rating:
Pass (Grades 1-6)$339,171 $287,749 $160,621 $125,029 $108,823 $242,024 $— $— $1,263,417 
Special mention (Grade 7)— 167 364 259 75 321 — — 1,186 
Substandard (Grade 8)— 127 1,306 203 7,798 18,406 — — 27,840 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - non-owner-occupied$339,171 $288,043 $162,291 $125,491 $116,696 $260,751 $— $— $1,292,443 
Commercial real estate - owner-occupied      
Risk rating:
Pass (Grades 1-6)$60,127 $80,781 $28,378 $23,381 $39,554 $70,568 $— $— $302,789 
Special mention (Grade 7)— 2,053 — 19,992 — 411 — — 22,456 
Substandard (Grade 8)17 — — — 3,266 3,966 — — 7,249 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - owner-occupied$60,144 $82,834 $28,378 $43,373 $42,820 $74,945 $— $— $332,494 
Commercial      
Risk rating:
Pass (Grades 1-6)$73,537 $70,110 $32,272 $33,491 $22,271 $26,245 $135,157 $30,191 $423,274 
Special mention (Grade 7)— — 93 141 70 189 1,196 12 1,701 
Substandard (Grade 8)149 52 133 216 846 1,524 50 2,186 5,156 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial$73,686 $70,162 $32,498 $33,848 $23,187 $27,958 $136,403 $32,389 $430,131 
Residential Real Estate      
Risk rating:
Pass (Grades 1-6)$533,035 $579,216 $244,691 $79,492 $50,214 $210,262 $340 $— $1,697,250 
Special mention (Grade 7)— — — — — 23 — — 23 
Substandard (Grade 8)— — — — 163 2,830 — — 2,993 
Doubtful (Grade 9)— — — — — — — — — 
Total residential real estate$533,035 $579,216 $244,691 $79,492 $50,377 $213,115 $340 $— $1,700,266 
Home equity      
Risk rating:
Performing$26,712 $693 $341 $4,842 $7,730 $8,551 $173,338 $11,735 $233,942 
Non-performing— — — — — 27 377 82 486 
Total home equity$26,712 $693 $341 $4,842 $7,730 $8,578 $173,715 $11,817 $234,428 
Consumer      
Risk rating:
Performing$8,009 $3,816 $1,702 $1,188 $345 $2,462 $3,069 $— $20,591 
Non-performing— — — — — — — — — 
Total consumer$8,009 $3,816 $1,702 $1,188 $345 $2,462 $3,069 $— $20,591 
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 loans past due over 90 days and accruing as of the following dates:
(In thousands)30 – 59 Days Past Due60 – 89 Days Past Due90 Days or Greater Past DueTotal Past DueCurrentTotal Loans OutstandingLoans > 90 Days Past Due and Accruing
December 31, 2023:
Commercial real estate - non-owner-occupied$44 $41 $184 $269 $1,370,177 $1,370,446 $— 
Commercial real estate - owner-occupied655 — — 655 301,205 301,860 — 
Commercial1,153 1,199 1,155 3,507 400,394 403,901 — 
Residential real estate1,317 322 1,094 2,733 1,760,645 1,763,378 — 
Home equity521 451 301 1,273 239,068 240,341 — 
Consumer85 8 5 98 18,070 18,168 — 
Total$3,775 $2,021 $2,739 $8,535 $4,089,559 $4,098,094 $— 
December 31, 2022:
Commercial real estate - non-owner-occupied$267 $— $11 $278 $1,292,165 $1,292,443 $— 
Commercial real estate - owner-occupied55 — 47 102 332,392 332,494 — 
Commercial667 134 640 1,441 428,690 430,131 — 
Residential real estate852 186 524 1,562 1,698,704 1,700,266 — 
Home equity357 — 171 528 233,900 234,428 — 
Consumer23 11 — 34 20,557 20,591 — 
Total$2,221 $331 $1,393 $3,945 $4,006,408 $4,010,353 $— 
Financing Receivable, Nonaccrual
The following table presents the amortized cost basis of loans on non-accrual status (including non-accruing TDRs) by portfolio segment as of the dates indicated:
December 31,
20232022
(In thousands)Non-Accrual Loans With an AllowanceNon-Accrual Loans Without an AllowanceTotal Non-Accrual LoansNon-Accrual Loans With an AllowanceNon-Accrual Loans Without an AllowanceTotal Non-Accrual Loans
Commercial real estate - non-owner-occupied$261 $— $261 $— $11 $11 
Commercial real estate - owner-occupied125 — 125 — 46 46 
Commercial1,725 — 1,725 415 300 715 
Residential real estate2,541 — 2,541 1,314 419 1,733 
Home equity759 — 759 421 65 486 
Consumer37 — 37 — — — 
Total$5,448 $— $5,448 $2,150 $841 $2,991 
The following table presents the amortized cost basis of collateral-dependent loans by portfolio segment and collateral type, as of the dates indicated:
December 31,
2023
December 31,
2022
Collateral TypeTotal Collateral -Dependent Non-Accrual LoansCollateral TypeTotal Collateral -Dependent Non-Accrual Loans
(In thousands)Real Estate Real Estate
Commercial real estate - non-owner-occupied
$4,494 $4,494 $— $— 
Commercial
671 671 — — 
Residential real estate— — 387 387 
Total$5,165 $5,165 $387 $387 
Summary of All Troubled Debt Restructuring Loans (Accruing and Non Accruing) by Portfolio Segment The percentage of the amortized cost basis of loans that were modified to borrowers in financial distress as compared to the amortized cost basis of each class of financing receivable as of December 31, 2023, is also presented below:
(In thousands)
Principal Forgiveness
Payment Delay
Term Extension
Interest Rate Reduction
Combination Term Extension and Principal Forgiveness
Combination Term Extension and Interest Rate Reduction
Total % of Portfolio
Commercial real estate - non-owner-occupied$— $— $4,494 $— $— $— 0.3 %
Total$— $— $4,494 $— $— $— 0.1 %
The following table presents the financial effect of the loan modifications presented above to borrowers experiencing financial difficulty for the year ended December 31, 2023:
(In thousands)
Principal Forgiveness
Weighted Average Interest Rate Reduction
Weighted Average Term Extension (Years)
Commercial real estate - non-owner-occupied$— — %1.3