v3.26.1
Loans Receivable and ACL-Loans (Tables)
 3 Months Ended
Mar. 31, 2026
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]  
Schedule of Loan Portfolio
The following table sets forth a summary of the loan portfolio at March 31, 2026 and December 31, 2025:
(In thousands)March 31, 2026December 31, 2025
Real estate loans:
Residential$30,128 $33,139 
Commercial1,896,565 1,930,979 
Construction155,826 153,778 
2,082,519 2,117,896 
Commercial business723,272 645,321 
Consumer60,827 76,855 
Total loans2,866,618 2,840,072 
ACL-Loans(29,580)(30,705)
Deferred loan origination fees, net(4,360)(4,926)
Loans receivable, net$2,832,678 $2,804,441 
Schedule of Impairment of ACL-Loans and Related Portfolio
The following tables set forth the activity in the Company’s ACL-Loans for the three months ended March 31, 2026 and 2025, by portfolio segment:    
Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal
(In thousands)
Three Months Ended March 31, 2026
Beginning balance$55 $20,255 $2,251 $6,635 $1,509 $30,705 
Charge-offs— — — (148)(73)(221)
Recoveries— 5 — 15 33 53 
Provision (credit) for credit losses(7)(1,672)(339)1,204 (143)(957)
Ending balance$48 $18,588 $1,912 $7,706 $1,326 $29,580 

Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal
(In thousands)
Three Months Ended March 31, 2025
Beginning Balance$94 $21,838 $2,059 $4,070 $946 $29,007 
Charge-offs— (67)— — (33)(100)
Recoveries— — — 4 36 40 
(Credit) provision for credit losses(7)(1,209)157 1,170 427 538 
Ending balance$87 $20,562 $2,216 $5,244 $1,376 $29,485 
Loans evaluated for impairment and the related ACL-Loans as of March 31, 2026 and December 31, 2025 were as follows:
PortfolioACL-Loans
(In thousands)
March 31, 2026
Loans individually evaluated for impairment:
Residential real estate$2,719 $— 
Commercial real estate40,095 — 
Construction— — 
Commercial business1,665 — 
Consumer25,662 — 
Subtotal70,141 — 
Loans collectively evaluated for impairment:
Residential real estate27,409 48 
Commercial real estate1,856,470 18,588 
Construction155,826 1,912 
Commercial business721,607 7,706 
Consumer35,165 1,326 
Subtotal2,796,477 29,580 
Total$2,866,618 $29,580 

PortfolioACL-Loans
(In thousands)
December 31, 2025
Loans individually evaluated for impairment:
Residential real estate$2,751 $— 
Commercial real estate35,767 — 
Construction— — 
Commercial business1,595 — 
Consumer38,820 — 
Subtotal78,933 — 
Loans collectively evaluated for impairment:
Residential real estate30,388 55 
Commercial real estate1,895,212 20,255 
Construction153,778 2,251 
Commercial business643,726 6,635 
Consumer38,035 1,509 
Subtotal2,761,139 30,705 
Total$2,840,072 $30,705 
The following table presents a roll forward of the ACL-Unfunded Commitments for the three months ended March 31, 2026 and March 31, 2025:
Three Months Ended March 31,
20262025
(In thousands)
Balance at beginning of period$488 $756 
(Credit) for credit losses (unfunded commitments)(72)(75)
Balance at end of period$416 $681 
The following table summarizes the Provision (credit) for credit losses for the three months ended March 31, 2026 and March 31, 2025:
Three Months Ended March 31,
20262025
(In thousands)
(Credit) provision for credit losses (loans)$(957)$538 
(Credit) for credit losses (unfunded commitments)(72)(75)
(Credit) provision for credit losses$(1,029)$463 
Schedule of Loan Origination and Risk Designation and Credit Risk Rating The following tables present loans by origination and risk designation on an amortized cost basis (which includes deferred fees and costs and accrued interest) as of March 31, 2026 and December 31, 2025 (dollars in thousands):
Term Loans
Amortized Cost Balances by Origination Year as of March 31, 2026
20262025202420232022PriorTotal
Residential Real Estate Loans
Pass$— $— $— $— $— $27,265 $27,265 
Special Mention— — — — — 274 274 
Substandard— — — — — 2,734 2,734 
Doubtful— — — — — — — 
Total Residential Real Estate Loans$— $— $— $— $— $30,273 $30,273 
Residential Real Estate charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Commercial Real Estate Loans
Pass$66,583 $353,665 $86,298 $97,865 $532,193 $652,190 $1,788,794 
Special Mention— — 9,834 — 62,258 1,654 73,746 
Substandard— — 21,432 — 3,575 15,112 40,119 
Doubtful— — — — — — — 
Total Commercial Real Estate Loans$66,583 $353,665 $117,564 $97,865 $598,026 $668,956 $1,902,659 
Commercial Real Estate charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Construction Loans
Pass$7,838 $37,569 $43,495 $42,054 $5,817 $— $136,773 
Special Mention— — — — 19,845 — 19,845 
Substandard— — — — — — — 
Doubtful— — — — — — — 
Total Construction Loans$7,838 $37,569 $43,495 $42,054 $25,662 $— $156,618 
Construction charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Commercial Business Loans
Pass$83,747 $284,163 $95,500 $65,388 $127,138 $65,052 $720,988 
Special Mention— 14 1,008 — 4,009 — 5,031 
Substandard— 287 — 19 — 1,307 1,613 
Doubtful— 84 — — — — 84 
Total Commercial Business Loans$83,747 $284,548 $96,508 $65,407 $131,147 $66,359 $727,716 
Commercial Business charge-off
Current period charge-offs$— $29 $— $— $— $119 $148 
Consumer Loans
Pass$492 $22,837 $19,114 $3,021 $15,201 $40 $60,705 
Special Mention— — — — — — — 
Substandard— — — — — — — 
Doubtful— — — — — — — 
Total Consumer Loans$492 $22,837 $19,114 $3,021 $15,201 $40 $60,705 
Consumer charge-off
Current period charge-offs$— $21 $34 $— $13 $5 $73 
Total Loans
Pass$158,660 $698,234 $244,407 $208,328 $680,349 $744,547 $2,734,525 
Special Mention— 14 10,842 — 86,112 1,928 98,896 
Substandard— 287 21,432 19 3,575 19,153 44,466 
Doubtful— 84 — — — — 84 
Total Loans$158,660 $698,619 $276,681 $208,347 $770,036 $765,628 $2,877,971 
Total charge-off
Current period charge-offs$— $50 $34 $— $13 $124 $221 
Term Loans
Amortized Cost Balances by Origination Year as of December 31, 2025
20252024202320222021PriorTotal
Residential Real Estate Loans
Pass$— $— $— $— $— $30,252 $30,252 
Special Mention— — — — — 281 281 
Substandard— — — — — 2,766 2,766 
Doubtful— — — — — — — 
Total Residential Real Estate Loans$— $— $— $— $— $33,299 $33,299 
Residential Real Estate charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Commercial Real Estate Loans
Pass$391,466 $97,473 $104,421 $573,183 $213,785 $458,047 $1,838,375 
Special Mention— — — 53,776 — 1,666 55,442 
Substandard— 21,358 — 7,059 8,521 6,934 43,872 
Doubtful— — — — — — — 
Total Commercial Real Estate Loans$391,466 $118,831 $104,421 $634,018 $222,306 $466,647 $1,937,689 
Commercial Real Estate charge-off
Current period charge-offs$— $— $— $— $67 $— $67 
Construction Loans
Pass$37,221 $40,676 $51,218 $5,720 $— $— $134,835 
Special Mention— — — 19,744 — — 19,744 
Substandard— — — — — — — 
Doubtful— — — — — — — 
Total Construction Loans$37,221 $40,676 $51,218 $25,464 $— $— $154,579 
Construction charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Commercial Business Loans
Pass$284,001 $91,887 $66,754 $130,596 $40,896 $25,904 $640,038 
Special Mention— — 7 5,302 — 127 5,436 
Substandard294 — 30 316 1,299 3 1,942 
Doubtful— — — — — — — 
Total Commercial Business Loans$284,295 $91,887 $66,791 $136,214 $42,195 $26,034 $647,416 
Commercial Business charge-off
Current period charge-offs$29 $— $— $— $— $— $29 
Consumer Loans
Pass$21,332 $21,782 $3,022 $28,844 $— $38 $75,018 
Special Mention— — — — — — — 
Substandard— — — — — — — 
Doubtful— — — — — — — 
Total Consumer Loans$21,332 $21,782 $3,022 $28,844 $— $38 $75,018 
Consumer charge-off
Current period charge-offs$74 $— $— $— $— $10 $84 
Total Loans
Pass$734,020 $251,818 $225,415 $738,343 $254,681 $514,241 $2,718,518 
Special Mention— — 7 78,822 — 2,074 80,903 
Substandard294 21,358 30 7,375 9,820 9,703 48,580 
Doubtful— — — — — — — 
Total Loans$734,314 $273,176 $225,452 $824,540 $264,501 $526,018 $2,848,001 
Total charge-off
Current period charge-offs$103 $— $— $— $67 $10 $180 
The following tables present credit risk ratings by loan segment as of March 31, 2026 and December 31, 2025:
Commercial Credit Quality Indicators
March 31, 2026December 31, 2025
Commercial Real EstateConstructionCommercial BusinessTotalCommercial Real EstateConstructionCommercial BusinessTotal
(In thousands)
Pass$1,783,008 $136,101 $716,606 $2,635,715 $1,832,061 $134,141 $638,012 $2,604,214 
Special Mention73,462 19,725 5,001 98,188 55,114 19,637 5,400 80,151 
Substandard40,095 — 1,581 41,676 43,804 — 1,909 45,713 
Doubtful— — 84 84 — — — — 
Loss— — — — — — — — 
Total loans$1,896,565 $155,826 $723,272 $2,775,663 $1,930,979 $153,778 $645,321 $2,730,078 

Residential and Consumer Credit Quality Indicators
March 31, 2026December 31, 2025
Residential Real EstateConsumerTotalResidential Real EstateConsumerTotal
(In thousands)
Pass$27,138 $60,827 $87,965 $30,110 $76,855 $106,965 
Special Mention271 — 271 278 — 278 
Substandard2,719 — 2,719 2,751 — 2,751 
Doubtful— — — — — — 
Loss— — — — — — 
Total loans$30,128 $60,827 $90,955 $33,139 $76,855 $109,994 
Schedule of Information with Respect to our Loan Portfolio Delinquencies by Portfolio Segment and Amount
The following tables set forth certain information with respect to the Company's loan portfolio delinquencies by portfolio segment as of March 31, 2026 and December 31, 2025:
March 31, 2026
30-59 Days Past Due60-89 Days Past Due90 Days or Greater Past DueTotal Past DueCurrentTotal Loans
(In thousands)
Real estate loans:
Residential real estate$1,088 $— $— $1,088 $29,040 $30,128 
Commercial real estate5,767 — 8,651 14,418 1,882,147 1,896,565 
Construction— — — — 155,826 155,826 
Commercial business987 — 1,362 2,349 720,923 723,272 
Consumer— — — — 60,827 60,827 
Total loans$7,842 $— $10,013 $17,855 $2,848,763 $2,866,618 

December 31, 2025
30-59 Days Past Due60-89 Days Past Due90 Days or Greater Past DueTotal Past DueCurrentTotal Loans
(In thousands)
Real estate loans:
Residential real estate$557 $— $— $557 $32,582 $33,139 
Commercial real estate56 — 5,901 5,957 1,925,022 1,930,979 
Construction— — — — 153,778 153,778 
Commercial business1,106 17 1,273 2,396 642,925 645,321 
Consumer5 — — 5 76,850 76,855 
Total loans$1,724 $17 $7,174 $8,915 $2,831,157 $2,840,072 
Schedule of Nonaccrual Loans by Portfolio Segment
The following is a summary of nonaccrual loans by portfolio segment as of March 31, 2026 and December 31, 2025:
March 31, 2026December 31, 2025
(In thousands)
Residential real estate$544 $557 
Commercial real estate17,112 14,445 
Commercial business1,380 1,302 
Construction— — 
Consumer— — 
Total$19,036 $16,304 
Schedule of Evaluated Loans by Portfolio Segment
The following table summarizes individually evaluated loans by portfolio segment as of March 31, 2026 and December 31, 2025.
Carrying AmountUnpaid Principal BalanceAssociated ACL-Loans
March 31, 2026December 31, 2025March 31, 2026December 31, 2025March 31, 2026December 31, 2025
(In thousands)
Individually evaluated loans without a valuation allowance:
Residential real estate$2,719 $2,751 $3,076 $3,098 $— $— 
Commercial real estate40,095 35,767 49,873 45,462 — — 
Construction— — — — — — 
Commercial business1,665 1,595 2,377 2,290 — — 
Consumer25,662 38,820 25,662 38,820 — — 
Total individually evaluated loans without a valuation allowance70,141 78,933 80,988 89,670 — — 
Individually evaluated loans with a valuation allowance:
Residential real estate$— $— $— $— $— $— 
Commercial real estate— — — — — — 
Construction— — — — — — 
Commercial business— — — — — — 
Consumer— — — — — — 
Total individually evaluated loans with a valuation allowance— — — — — — 
Total individually evaluated loans$70,141 $78,933 $80,988 $89,670 $— $— 
The following table summarizes the average carrying amount of individually evaluated loans and interest income recognized on individually evaluated loans by portfolio segment for the three months ended March 31, 2026 and 2025:

Average Carrying AmountInterest Income Recognized
Three Months Ended March 31,Three Months Ended March
 31,
2026202520262025
(In thousands)
Individually evaluated loans without a valuation allowance:
Residential real estate$2,729 $3,071 $42 $64 
Commercial real estate42,464 18,161 483 48 
Commercial business1,863 7,643 56 20 
Construction— — — — 
Consumer34,270 54,249 290 569 
Total individually evaluated loans without a valuation allowance81,326 83,124 871 701 
Individually evaluated loans with a valuation allowance:
Residential real estate$— $— $— $— 
Commercial real estate— — — — 
Commercial business— — — — 
Construction— — — — 
Consumer— — — — 
Total individually evaluated loans with a valuation allowance— — — — 
Total individually evaluated loans$81,326 $83,124 $871 $701