LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)

3 Months Ended

Mar. 31, 2026

LOANS AND ALLOWANCE FOR CREDIT LOSSES

Schedule of Loans


		March 31,			December 31,
(in thousands)		2026			2025
Commercial construction		$	219,802		$	213,779
Commercial real estate owner occupied			360,331			385,843
Commercial real estate non-owner occupied			1,431,667			1,450,597
Municipal and other			37,713			43,106
Commercial and industrial			345,800			315,370
Residential real estate			1,061,921			1,068,413
Home equity			114,267			114,484
Consumer other			13,747			14,267
Total loans			3,585,248			3,605,859
Allowance for credit losses			34,315			34,052
Net loans		$	3,550,933		$	3,571,807

Summary of Unamortized Net Costs and Premiums


		March 31,			December 31,
(in thousands)		2026			2025
Net unamortized loan origination costs		$	1,835		$	1,929
Net unamortized fair value discount on acquired loans			(35,796)			(36,739)
Total		$	(33,961)		$	(34,810)

Schedule of Activity in the Allowance for Credit Losses


		At or for the Three Months Ended March 31, 2026
		Balance at
		Beginning of									Provision/			Balance at
(in thousands)		Period			Charge Offs			Recoveries			(Credit)			End of Period
Commercial construction		$	4,371		$	—		$	—		$	(43)		$	4,328
Commercial real estate owner occupied			4,045			—			—			(418)			3,627
Commercial real estate non-owner occupied			12,837			—			—			972			13,809
Tax exempt			119			—			—			(8)			111
Commercial and industrial			5,378			—			36			135			5,549
Residential real estate			6,350			(3)			11			(386)			5,972
Home equity			814			(9)			2			(30)			777
Consumer other			138			(85)			6			83			142
Total		$	34,052		$	(97)		$	55		$	305		$	34,315


		At or for the Three Months Ended March 31, 2025
		Balance at
		Beginning of									Provision/			Balance at
(in thousands)		Period			Charge Offs			Recoveries			(Credit)			End of Period
Commercial construction		$	2,096		$	—		$	—		$	(31)		$	2,065
Commercial real estate owner occupied			2,794			—			—			36			2,830
Commercial real estate non-owner occupied			11,104			—			—			(181)			10,923
Municipal and other			128			—			—			(16)			112
Commercial and industrial			5,064			(39)			2			387			5,414
Residential real estate			6,732			—			4			(289)			6,447
Home equity			741			—			5			(2)			744
Consumer other			85			(45)			—			39			79
Total		$	28,744		$	(84)		$	11		$	(57)		$	28,614

Schedule of Loans by Risk Rating

The following table presents our loans by year of origination, loan segmentation and risk indicator as of March 31, 2026:



(in thousands)		2026			2025			2024			2023			2022			Prior			Total
Commercial construction
Risk rating:
Pass		$	803		$	80,856		$	61,622		$	47,255		$	22,429		$	6,808		$	219,773
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			29			29
Total		$	803		$	80,856		$	61,622		$	47,255		$	22,429		$	6,837		$	219,802
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate owner occupied
Risk rating:
Pass		$	14,828		$	43,641		$	37,528		$	43,488		$	72,572		$	130,275		$	342,332
Special mention			—			—			—			871			590			14,474			15,935
Substandard			—			—			—			—			—			2,004			2,004
Doubtful			—			—			—			—			—			60			60
Total		$	14,828		$	43,641		$	37,528		$	44,359		$	73,162		$	146,813		$	360,331
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate non-owner occupied
Risk rating:
Pass		$	48,344		$	237,462		$	78,958		$	55,769		$	327,565		$	542,171		$	1,290,269
Special mention			—			—			25,356			—			32,489			48,032			105,877
Substandard			—			—			—			7,567			—			16,502			24,069
Doubtful			—			—			—			—			—			11,452			11,452
Total		$	48,344		$	237,462		$	104,314		$	63,336		$	360,054		$	618,157		$	1,431,667
Current period gross write-offs			—			—			—			—			—			—			—

Municipal and other
Risk rating:
Pass		$	475		$	3,258		$	2,850		$	4,630		$	6,030		$	20,470		$	37,713
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	475		$	3,258		$	2,850		$	4,630		$	6,030		$	20,470		$	37,713
Current period gross write-offs			—			—			—			—			—			—			—

Commercial and industrial
Risk rating:
Pass		$	23,599		$	43,538		$	72,994		$	53,334		$	40,367		$	94,304		$	328,136
Special mention			104			9,984			95			1,421			850			1,187			13,641
Substandard			—			69			585			63			390			2,671			3,778
Doubtful			—			—			—			—			85			160			245
Total		$	23,703		$	53,591		$	73,674		$	54,818		$	41,692		$	98,322		$	345,800
Current period gross write-offs			—			—			—			—			—			—			—


Residential real estate
Performing		$	18,744		$	47,382		$	42,554		$	72,699		$	206,930		$	665,214		$	1,053,523
Nonperforming			—			—			—			1,242			1,999			5,157			8,398
Total		$	18,744		$	47,382		$	42,554		$	73,941		$	208,929		$	670,371		$	1,061,921
Current period gross write-offs			—			—			—			—			—			3			3

Home equity
Performing		$	2,768		$	22,376		$	21,750		$	14,905		$	11,837		$	39,550		$	113,186
Nonperforming			—			—			—			95			222			764			1,081
Total		$	2,768		$	22,376		$	21,750		$	15,000		$	12,059		$	40,314		$	114,267
Current period gross write-offs			—			—			—			—			—			9			9

Consumer other
Performing		$	2,312		$	5,070		$	2,218		$	2,425		$	642		$	983		$	13,650
Nonperforming			—			46			11			40			—			—			97
Total		$	2,312		$	5,116		$	2,229		$	2,465		$	642		$	983		$	13,747
Current period gross write-offs			—			6			—			7			1			71			85

Total Loans		$	111,977		$	493,682		$	346,521		$	305,804		$	724,997		$	1,602,267		$	3,585,248

The following table presents our loans by year of origination, loan segmentation and risk indicator as of December 31, 2025:



(in thousands)		2025			2024			2023			2022			2021			Prior			Total
Commercial construction
Risk rating:
Pass		$	62,267		$	62,422		$	43,824		$	22,609		$	2,373		$	5,819		$	199,314
Special mention			—			14,434			—			—			—			—			14,434
Substandard			—			—			—			—			—			31			31
Total		$	62,267		$	76,856		$	43,824		$	22,609		$	2,373		$	5,850		$	213,779
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate owner occupied
Risk rating:
Pass		$	60,013		$	37,785		$	47,601		$	74,993		$	31,512		$	115,774		$	367,678
Special mention			—			—			878			596			13,377			1,329			16,180
Substandard			—			—			—			—			—			1,895			1,895
Doubtful			—			—			—			—			—			90			90
Total		$	60,013		$	37,785		$	48,479		$	75,589		$	44,889		$	119,088		$	385,843
Current period gross write-offs			—			—			—			—			—			—			—

Commercial real estate non-owner occupied
Risk rating:
Pass		$	234,960		$	78,781		$	56,134		$	329,779		$	188,810		$	420,958		$	1,309,422
Special mention			—			25,392			—			32,650			21,930			25,313			105,285
Substandard			—			—			7,596			—			—			28,294			35,890
Doubtful			—			—			—			—			—			—			—
Total		$	234,960		$	104,173		$	63,730		$	362,429		$	210,740		$	474,565		$	1,450,597
Current period gross write-offs			—			—			—			—			—			—			—

Municipal and other
Risk rating:
Pass		$	7,824		$	2,852		$	4,629		$	6,030		$	918		$	20,853		$	43,106
Special mention			—			—			—			—			—			—			—
Substandard			—			—			—			—			—			—			—
Total		$	7,824		$	2,852		$	4,629		$	6,030		$	918		$	20,853		$	43,106
Current period gross write-offs			—			—			—			—			—			—			—

Commercial and industrial
Risk rating:
Pass		$	54,711		$	67,007		$	45,202		$	41,687		$	9,046		$	88,496		$	306,149
Special mention			127			104			1,366			1,766			431			1,108			4,902
Substandard			70			581			56			395			395			2,576			4,073
Doubtful			—			—			—			85			5			156			246
Total		$	54,908		$	67,692		$	46,624		$	43,933		$	9,877		$	92,336		$	315,370
Current period gross write-offs			—			86			—			—			25			626			737


Residential real estate
Performing		$	45,303		$	47,589		$	76,856		$	211,153		$	187,848		$	491,752		$	1,060,501
Nonperforming			—			—			1,279			1,289			1,229			4,115			7,912
Total		$	45,303		$	47,589		$	78,135		$	212,442		$	189,077		$	495,867		$	1,068,413
Current period gross write-offs			—			—			—			—			—			—			—

Home equity
Performing		$	20,279		$	22,933		$	15,121		$	12,304		$	6,672		$	35,992		$	113,301
Nonperforming			—			—			99			227			89			768			1,183
Total		$	20,279		$	22,933		$	15,220		$	12,531		$	6,761		$	36,760		$	114,484
Current period gross write-offs			—			—			—			—			—			—			—

Consumer other
Performing		$	6,764		$	2,538		$	2,848		$	971		$	328		$	742		$	14,191
Nonperforming			46			11			17			—			—			2			76
Total		$	6,810		$	2,549		$	2,865		$	971		$	328		$	744		$	14,267
Current period gross write-offs			—			26			27			16			4			211			284

Total Loans		$	492,364		$	362,429		$	303,506		$	736,534		$	464,963		$	1,246,063		$	3,605,859

Summary of Past Due Loans


		March 31, 2026
(in thousands)		30-59			60-89			90+			Total Past Due			Current			Total Loans
Commercial construction		$	150		$	—		$	—		$	150		$	219,652		$	219,802
Commercial real estate owner occupied			250			480			668			1,398			358,933			360,331
Commercial real estate non-owner occupied			—			—			116			116			1,431,551			1,431,667
Municipal and other			—			—			—			—			37,713			37,713
Commercial and industrial			431			311			724			1,466			344,334			345,800
Residential real estate			11,593			510			3,287			15,390			1,046,531			1,061,921
Home equity			546			65			290			901			113,366			114,267
Consumer other			188			16			51			255			13,492			13,747
Total		$	13,158		$	1,382		$	5,136		$	19,676		$	3,565,572		$	3,585,248


		December 31, 2025
(in thousands)		30-59			60-89			90+			Total Past Due			Current			Total Loans
Commercial construction		$	162		$	—		$	—		$	162		$	213,617		$	213,779
Commercial real estate owner occupied			641			—			723			1,364			384,479			385,843
Commercial real estate non-owner occupied			—			—			122			122			1,450,475			1,450,597
Municipal and other			—			—			—			—			43,106			43,106
Commercial and industrial			899			26			893			1,818			313,552			315,370
Residential real estate			9,162			1,190			4,640			14,992			1,053,421			1,068,413
Home equity			876			549			476			1,901			112,583			114,484
Consumer other			33			45			51			129			14,138			14,267
Total		$	11,773		$	1,810		$	6,905		$	20,488		$	3,585,371		$	3,605,859

Summary of Non-Accrual Loans


		March 31, 2026
					Nonaccrual With No			90+ Days Past
(in thousands)		Nonaccrual			Related Allowance			Due and Accruing
Commercial construction		$	29		$	—		$	—
Commercial real estate owner occupied			770			228			158
Commercial real estate non-owner occupied			11,627			—			—
Municipal and other			—			—			—
Commercial and industrial			1,139			141			—
Residential real estate			8,398			1,024			—
Home equity			1,081			1			—
Consumer other			97			4			—
Total		$	23,141		$	1,398		$	158


		December 31, 2025
					Nonaccrual With No			90+ Days Past
(in thousands)		Nonaccrual			Related Allowance			Due and Accruing
Commercial construction		$	31		$	—		$	—
Commercial real estate owner occupied			829			237			—
Commercial real estate non-owner occupied			184			—			—
Municipal and other			—			—			—
Commercial and industrial			1,371			141			—
Residential real estate			7,912			1,044			—
Home equity			1,183			1			—
Consumer other			76			4			—
Total		$	11,586		$	1,427		$	—

Schedule of Amortized Cost Basis of Collateral-Dependent Loans


		March 31, 2026						December 31, 2025
(in thousands)		Real Estate			Other			Real Estate			Other
Commercial construction		$	—		$	—		$	—		$	—
Commercial real estate owner occupied			365			—			378			—
Commercial real estate non-owner occupied			13,419			—			1,985			—
Municipal and other			—			—			—			—
Commercial and industrial			—			2,078			—			2,410
Residential real estate			166			—			318			—
Home equity			—			—			119			—
Consumer other			—			—			—			—
Total		$	13,950		$	2,078		$	2,800		$	2,410

Schedule of Amortized Cost Basis of Loans Experiencing Financial Difficulty and modification


(in thousands)		Principal Forgiveness			Payment Delay			Term Extension			Interest Rate Reduction			Combination Interest Rate Reduction and Term Extension			% of Total Class of Loans
Three Months Ended March 31, 2026
Commercial construction		$	—		$	—		$	—		$	—		$	—		—	%
Commercial real estate owner occupied			—			157			—			—			—		0.04
Commercial real estate non-owner occupied			—			11,452			—			—			—		0.80
Municipal and other			—			—			—			—			—		—
Commercial and industrial			—			32			69			—			—		0.03
Residential real estate			—			—			—			—			—		—
Home equity			—			—			—			—			—		—
Consumer other			—			—			—			—			—		—
Total		$	—		$	11,641		$	69		$	—		$	—		0.33	%


(in thousands)		Principal Forgiveness			Payment Delay			Term Extension			Interest Rate Reduction			Combination Interest Rate Reduction and Term Extension			% of Total Class of Loans
Three Months Ended March 31, 2025
Commercial construction		$	—		$	—		$	—		$	—		$	—		—	%
Commercial real estate owner occupied			—			—			—			—			—		—
Commercial real estate non-owner occupied			—			—			—			—			—		—
Municipal and other			—			—			—			—			—		—
Commercial and industrial			—			—			283			—			—		0.09
Residential real estate			—			—			—			—			—		—
Home equity			—			—			—			—			—		—
Consumer other			—			—			—			—			—		—
Total		$	—		$	—		$	283		$	—		$	—		0.01	%

Schedule of Financial Effect of Loan Modifications


		Weighted-Average Months of Payment Delay			Weighted-Average Months of Term Extension				Weighted-Average Interest Rate Reduction
Three Months Ended March 31, 2026
Commercial construction			—			—			—	%
Commercial real estate owner occupied			6			—			—
Commercial real estate non-owner occupied			4			—			—
Municipal and other			—			—			—
Commercial and industrial			4			12			—
Residential real estate			—			—			—
Home equity			—			—			—
Consumer other			—			—			—


		Weighted-Average Months of Payment Delay			Weighted-Average Months of Term Extension				Weighted-Average Interest Rate Reduction
Three Months Ended March 31, 2025
Commercial construction			—			—			—	%
Commercial real estate owner occupied			—			—			—
Commercial real estate non-owner occupied			—			—			—
Municipal and other			—			—			—
Commercial and industrial			—			53			—
Residential real estate			—			—			—
Home equity			—			—			—
Consumer other			—			—			—

Schedule of Unpaid Principal Balance and Carrying Amount of PCD Loans


		March 31, 2026						December 31, 2025
(in thousands)		Unpaid Principal Balance			Carrying Value			Unpaid Principal Balance			Carrying Value
Commercial real estate owner occupied		$	1,081		$	1,012		$	1,103		$	1,032
Commercial real estate non-owner occupied			4,594			4,335			4,632			4,359
Commercial and industrial			2,083			2,051			2,139			2,104
Residential real estate			1,275			1,191			1,306			1,221
Home equity			505			488			506			479
Consumer other			40			38			40			39
Total		$	9,578		$	9,115		$	9,726		$	9,234

Schedule of Reconciliation of Acquired PCD Loans at Acquisition


(in thousands)
Fair value of PCD loans at acquisition		$	8,887
Non-credit related discount			713
Allowance for credit losses on PCD loans			1,622
Par value of PCD loans at acquisition		$	11,222

Unfunded Loan Commitment

LOANS AND ALLOWANCE FOR CREDIT LOSSES

Schedule of Activity in the Allowance for Credit Losses


		Three Months Ended March 31,
(in thousands)		2026			2025
Beginning Balance		$	3,845		$	3,049
Provision for credit losses			(226)			(74)
Ending Balance		$	3,619		$	2,975