v3.25.2
Allowance For Credit Losses On Loans (Tables)
 6 Months Ended
Jun. 30, 2025
Allowance For Credit Losses On Loans [Abstract]  
Changes In And Allocation Of Allowance For Loan Losses Changes in the allowance for credit losses on loans during the periods presented were as follows:

Three Months Ended June 30,

Six Months Ended June 30,

(In thousands)

2025

2024

2025

2024

Balance, beginning of period

$

18,722

$

19,342

$

18,679

$

19,131

Provision for credit losses on loans

891

3,068

891

3,279

Charge-offs

–

–

–

–

Recoveries

11

–

54

–

Balance, end of period

$

19,624

$

22,410

$

19,624

$

22,410

Accrued interest receivable related to loans totaled $7.2 million and $7.4 million at June 30, 2025, and December 31, 2024, respectively, and was reported in accrued interest receivable and other assets on the consolidated balance sheets. Accrued interest receivable was excluded from the estimate of credit losses.


‎

Allocation of the allowance for credit losses on loans by portfolio segment for the three and six months ended June 30, 2025 and 2024 are as follows:

For the Three Months Ended June 30,

2025

(In thousands)

Commercial and Industrial

Construction

Residential Real Estate

Commercial Real Estate

Consumer

Total

Balance, March 31, 2025

$

10,989

$

2,822

$

367

$

4,523

$

21

$

18,722

Provision for credit losses on loans (1)

1,058

(288)

(14)

131

4

891

Charge-offs

–

–

–

–

–

–

Recoveries

11

–

–

–

–

11

Balance, June 30, 2025

$

12,058

$

2,534

$

353

$

4,654

$

25

$

19,624

2024

Balance, March 31, 2024

$

9,833

$

3,453

$

136

$

5,916

$

4

$

19,342

Provision for credit losses on loans (1)

2,756

(248)

8

549

3

3,068

Charge-offs

–

–

–

–

–

–

Recoveries

–

–

–

–

–

–

Balance, June 30, 2024

$

12,589

$

3,205

$

144

$

6,465

$

7

$

22,410

For the Six Months Ended June 30,

2025

(In thousands)

Commercial and Industrial

Construction

Residential Real Estate

Commercial Real Estate

Consumer

Total

Balance, December 31, 2024

$

10,170

$

3,005

$

286

$

5,207

$

11

$

18,679

Provision for credit losses on loans (1)

1,834

(471)

67

(553)

14

891

Charge-offs

–

–

–

–

–

–

Recoveries

54

–

–

–

–

54

Balance, June 30, 2025

$

12,058

$

2,534

$

353

$

4,654

$

25

$

19,624

2024

Balance, December 31, 2023

$

9,794

$

3,156

$

145

$

6,035

$

1

$

19,131

Provision for credit losses on loans (1)

2,795

49

(1)

430

6

3,279

Charge-offs

–

–

–

–

–

–

Recoveries

–

–

–

–

–

–

Balance, June 30, 2024

$

12,589

$

3,205

$

144

$

6,465

$

7

$

22,410

9,794

3,156

145

6,035

1

(1) Excludes provision for unfunded commitments of $34,000 and ($70,000) for the three months ended June 30, 2025 and 2024, respectively, and $34,000 and $38,000 for the six months ended June 30, 2025 and 2024, respectively.
Amortized Cost Basis Of Loans On Nonaccrual Status And Loans Past Due
‎

The following table presents the amortized cost basis of loans on nonaccrual status and loans past due over 89 days still accruing as of June 30, 2025 and December 31, 2024:

June 30, 2025

(In thousands)

Nonaccrual Loans With No Allowance for Credit Losses

Nonaccrual Loans With Allowance for Credit Losses

Total Nonaccrual Loans

Loans Past Due over 89 Days Still Accruing

Commercial and industrial

$

104

$

1,228

$

1,332

$

–

Construction

–

–

–

–

Residential Real Estate

–

–

–

–

Commercial Real Estate

–

–

–

–

Consumer

–

–

–

–

Total

$

104

$

1,228

$

1,332

$

–

December 31, 2024

(In thousands)

Nonaccrual Loans With No Allowance for Credit Losses

Nonaccrual Loans With Allowance for Credit Losses

Total Nonaccrual Loans

Loans Past Due over 89 Days Still Accruing

Commercial and industrial

$

113

$

1,234

$

1,347

$

–

Construction

–

–

–

–

Residential Real Estate

–

–

–

–

Commercial Real Estate

–

–

–

–

Consumer

–

–

–

–

Total

$

113

$

1,234

$

1,347

$

–
Credit Risk Profile By Internally Assigned Grade


‎

The following tables present the risk category and gross charge-offs by vintage year, which is the year of origination or most recent renewal, as of the date indicated. Gross charge-offs are presented for the six months ended June 30, 2025 and the year ended December 31, 2024 in the tables below:

Term Loans Amortized Cost Basis by Origination Year

(In thousands)

2025

2024

2023

2022

2021

Prior

Revolving Loans Amortized Cost Basis

Revolving Loans Converted to Term

Total

June 30, 2025

Commercial and industrial

Risk Rating

Pass

$

103,400 

$

116,907 

$

61,101 

$

47,282 

$

34,990 

$

13,164 

$

448,463 

$

5,500 

$

830,807 

Special Mention

–

–

4,296 

3,689 

–

–

8,992 

–

16,977 

Substandard

–

–

3,695 

170 

–

–

1,989 

–

5,854 

Substandard - Nonaccrual

–

–

–

–

–

104 

–

–

104 

Doubtful

–

–

1,228 

–

–

–

–

–

1,228 

Total

$

103,400 

$

116,907 

$

70,320 

$

51,141 

$

34,990 

$

13,268 

$

459,444 

$

5,500 

$

854,970 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Construction

Risk Rating

Pass

$

16,404 

$

65,563 

$

53,402 

$

28,705 

$

14,903 

$

7,713 

$

–

$

–

$

186,690 

Special Mention

–

–

–

2,784 

16,016 

–

–

–

18,800 

Total

$

16,404 

$

65,563 

$

53,402 

$

31,489 

$

30,919 

$

7,713 

$

–

$

–

$

205,490 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Residential Real Estate

Risk Rating

Pass

$

1,849 

$

1,630 

$

4,363 

$

672 

$

–

$

2,758 

$

20,198 

$

–

$

31,470 

Total

$

1,849 

$

1,630 

$

4,363 

$

672 

$

–

$

2,758 

$

20,198 

$

–

$

31,470 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Commercial Real Estate

Risk Rating

Pass

$

106,634 

$

58,260 

$

159,492 

$

130,419 

$

133,379 

$

222,388 

$

7,758 

$

–

$

818,330 

Total

$

106,634 

$

58,260 

$

159,492 

$

130,419 

$

133,379 

$

222,388 

$

7,758 

$

–

$

818,330 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Consumer

Risk Rating

Pass

$

–

$

–

$

–

$

–

$

–

$

–

$

2,386 

$

–

$

2,386 

Total

$

–

$

–

$

–

$

–

$

–

$

–

$

2,386 

$

–

$

2,386 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Total

Pass

$

228,287 

$

242,360 

$

278,358 

$

207,078 

$

183,272 

$

246,023 

$

478,805 

$

5,500 

$

1,869,683 

Special Mention

–

–

4,296 

6,473 

16,016 

–

8,992 

–

35,777 

Substandard

–

–

3,695 

170 

–

–

1,989 

–

5,854 

Substandard - Nonaccrual

–

–

–

–

–

104 

–

–

104 

Doubtful

–

–

1,228 

–

–

–

–

–

1,228 

Total

$

228,287 

$

242,360 

$

287,577 

$

213,721 

$

199,288 

$

246,127 

$

489,786 

$

5,500 

$

1,912,646 


‎

Term Loans Amortized Cost Basis by Origination Year

(In thousands)

2024

2023

2022

2021

2020

Prior

Revolving Loans Amortized Cost Basis

Revolving Loans Converted to Term

Total

December 31, 2024

Commercial and industrial

Risk Rating

Pass

$

131,267 

$

95,642 

$

66,474 

$

74,282 

$

13,715 

$

6,223 

$

413,781 

$

–

$

801,384 

Special Mention

–

5,524 

4,031 

318 

69 

–

1,950 

–

11,892 

Substandard

–

–

329 

–

–

–

2,470 

–

2,799 

Substandard - Nonaccrual

–

–

–

–

–

113 

–

–

113 

Doubtful

–

1,234 

–

–

–

–

–

–

1,234 

Total

$

131,267 

$

102,400 

$

70,834 

$

74,600 

$

13,784 

$

6,336 

$

418,201 

$

–

$

817,422 

Gross charge-offs

$

4,361 

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

4,361 

Construction

Risk Rating

Pass

$

60,400 

$

71,819 

$

49,680 

$

23,694 

$

3,971 

$

3,780 

$

6,632 

$

–

$

219,976 

Special Mention

–

–

3,060 

24,019 

–

–

–

–

27,079 

Total

$

60,400 

$

71,819 

$

52,740 

$

47,713 

$

3,971 

$

3,780 

$

6,632 

$

–

$

247,055 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Residential Real Estate

Risk Rating

Pass

$

1,070 

$

4,395 

$

677 

$

–

$

1,970 

$

857 

$

18,453 

$

–

$

27,422 

Total

$

1,070 

$

4,395 

$

677 

$

–

$

1,970 

$

857 

$

18,453 

$

–

$

27,422 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Commercial Real Estate

Risk Rating

Pass

$

58,681 

$

163,333 

$

134,121 

$

143,578 

$

46,213 

$

203,190 

$

20,723 

$

–

$

769,839 

Special Mention

–

–

–

–

–

1,420 

2,000 

–

3,420 

Total

$

58,681 

$

163,333 

$

134,121 

$

143,578 

$

46,213 

$

204,610 

$

22,723 

$

–

$

773,259 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Consumer

Risk Rating

Pass

$

–

$

–

$

–

$

–

$

–

$

–

$

957 

$

–

$

957 

Total

$

–

$

–

$

–

$

–

$

–

$

–

$

957 

$

–

$

957 

Gross charge-offs

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

$

–

Total

Pass

$

251,418 

$

335,189 

$

250,952 

$

241,554 

$

65,869 

$

214,050 

$

460,546 

$

–

$

1,819,578 

Special Mention

–

5,524 

7,091 

24,337 

69 

1,420 

3,950 

–

42,391 

Substandard

–

–

329 

–

–

–

2,470 

–

2,799 

Substandard - Nonaccrual

–

–

–

–

–

113 

–

–

113 

Doubtful

–

1,234 

–

–

–

–

–

–

1,234 

Total

$

251,418 

$

341,947 

$

258,372 

$

265,891 

$

65,938 

$

215,583 

$

466,966 

$

–

$

1,866,115 
Outstanding Loan Balances Of Collateral-Dependent Loans By Portfolio Segment

Collateral Type

(In thousands)

Real Property

Business Assets

Accounts Receivable

Equipment

Total

June 30, 2025

Commercial and industrial

$

104

$

–

$

–

$

–

$

104

Construction

–

–

–

–

–

Residential Real Estate

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

Consumer

–

–

–

–

–

Total

$

104

$

–

$

–

$

–

$

104

December 31, 2024

Commercial and industrial

$

113

$

–

$

–

$

–

$

113

Construction

–

–

–

–

–

Residential Real Estate

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

Consumer

–

–

–

–

–

Total

$

113

$

–

$

–

$

–

$

113
Amortized Cost Basis Of Loans Experiencing Both Financial Difficulty And Modified

(In thousands)

Term Extension

Payment Delay and Term Extension

Interest Rate Reduction and Payment Delay

Interest Rate Reduction, Payment Delay and Term Extension

Principal Forgiveness, Interest Rate Reduction, Payment Delay and Term Extension

Total

% of Total Class

Three Months Ended June 30, 2025

Commercial and industrial

$

–

$

–

$

–

$

–

$

–

$

–

–

%

Construction

4,509

–

–

–

–

4,509

2.19

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

4,509

$

–

$

–

$

–

$

–

$

4,509

0.24

%

Six Months Ended June 30, 2025

Commercial and industrial

$

2,295

$

–

$

–

$

–

$

–

$

2,295

0.27

%

Construction

28,276

–

–

–

–

28,276

13.76

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

30,571

$

–

$

–

$

–

$

–

$

30,571

1.60

%

Three Months Ended June 30, 2024

Commercial and industrial

$

–

$

4,323

$

–

$

–

$

–

$

4,323

0.53

%

Construction

2,478

–

–

–

–

2,478

1.02

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

2,478

$

4,323

$

–

$

–

$

–

$

6,801

0.38

%

Six Months Ended June 30, 2024

Commercial and industrial

$

16,352

$

4,323

$

–

$

–

$

–

$

20,675

2.51

%

Construction

11,242

–

–

–

–

11,242

4.64

Residential Real Estate

–

–

–

–

–

–

–

Commercial Real Estate

–

–

–

–

–

–

–

Consumer

–

–

–

–

–

–

–

Total

$

27,594

$

4,323

$

–

$

–

$

–

$

31,917

1.77

%