v3.26.1
LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS (Tables)
 3 Months Ended
Mar. 31, 2026
Loans and Leases Receivable Disclosure [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:
(In thousands)March 31,
2026		December 31,
2025
Commercial Loans:
Commercial real estate - non-owner-occupied$1,780,079 $1,778,985 
Commercial real estate - owner-occupied415,662 406,120 
Commercial414,694 417,439 
Total commercial loans2,610,435 2,602,544 
Retail Loans:
Residential real estate1,993,435 2,012,922 
Home equity342,874 332,256 
Consumer16,273 17,416 
Total retail loans2,352,582 2,362,594 
Total loans$4,963,017 $4,965,138 
Schedule of Loan Balances by Portfolio Segment
The loan balances for each portfolio segment presented above are net of their respective unamortized fair value mark discount on acquired loans and net of unamortized loan origination costs for the dates indicated:
(In thousands)March 31,
2026		December 31,
2025
Net unamortized fair value mark discount on acquired loans$(75,908)$(79,747)
Net unamortized loan origination costs7,031 7,022 
Total$(68,877)$(72,725)
Summary of Activity in Allowance for Loan Losses
The following table presents the activity in the ACL on loans for the periods indicated:
Commercial Real Estate
(In thousands)Non-Owner-OccupiedOwner- OccupiedCommercialResidential Real EstateHome EquityConsumerTotal
As of or for the Three Months Ended
 March 31, 2026
Beginning balance, December 31, 2025
$18,304 $4,328 $5,718 $12,832 $3,950 $144 $45,276 
Charge-offs— — (627)— — (43)(670)
Recoveries— 4 152 6 — 2 164 
Provision (credit) for loan losses
96 (284)845 283 (140)6 806 
Ending balance, March 31, 2026
$18,400 $4,048 $6,088 $13,121 $3,810 $109 $45,576 
As of or for the Three Months Ended
  March 31, 2025
Beginning balance, December 31, 2024
$14,897 $2,481 $5,856 $9,979 $2,397 $118 $35,728 
Charge-offs— (191)(896)(4)(3)(26)(1,120)
Recoveries1 51 110 6 — 3 171 
Acquired PCD loans
1,659 340 575 305 165 27 3,071 
Provision for loans losses:
Provision for acquired non-PCD loans
2,335 840 816 1,979 268 55 6,293 
General provision (credit) for loan losses
60 671 (326)1,607 589 (21)2,580 
Total provision for loan losses2,395 1,511 490 3,586 857 34 8,873 
Ending balance, March 31, 2025
$18,952 $4,192 $6,135 $13,872 $3,416 $156 $46,723 
As of or for the Year Ended
   December 31, 2025
Beginning balance, December 31, 2024
$14,897 $2,481 $5,856 $9,979 $2,397 $118 $35,728 
Charge-offs(3,029)(191)(12,659)(4)(21)(185)(16,089)
Recoveries9 60 428 25 1 12 535 
Acquired PCD loans
1,659 340 575 305 165 27 3,071 
Provision for loans losses:
Provision for acquired non-PCD loans
2,335 840 816 1,979 268 55 6,293 
General provision for loan losses
2,433 798 10,702 548 1,140 117 15,738 
Total provision for loan losses4,768 1,638 11,518 2,527 1,408 172 22,031 
Ending balance, December 31, 2025
$18,304 $4,328 $5,718 $12,832 $3,950 $144 $45,276 
Credit Risk Exposure Indicators by Portfolio Segment
Based on the most recent analysis performed, the risk category of loans by portfolio segment by vintage was as follows as of and for the dates indicated:
Revolving Loans
(In thousands)20262025202420232022Prior
Amortized Cost Basis
Converted to Term
Total
As of and for the period ended March 31, 2026
Commercial real estate - non-owner-occupied      
Risk rating:
Pass (Grades 1-6)$29,370 $196,730 $118,939 $104,985 $336,009 $884,090 $— $— $1,670,123 
Special mention (Grade 7)— — — — — 543 — — 543 
Substandard (Grade 8)— — 301 5,738 46,971 56,403 — — 109,413 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - non-owner-occupied$29,370 $196,730 $119,240 $110,723 $382,980 $941,036 $— $— $1,780,079 
Gross charge-offs for the three months ended
$— $— $— $— $— $— $— $— $— 
Commercial real estate - owner-occupied      
Risk rating:
Pass (Grades 1-6)$21,246 $57,687 $51,851 $32,455 $42,329 $186,381 $— $— $391,949 
Special mention (Grade 7)— — — — — 212 — — 212 
Substandard (Grade 8)— — 402 1,909 6,094 15,096 — — 23,501 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - owner occupied$21,246 $57,687 $52,253 $34,364 $48,423 $201,689 $— $— $415,662 
Gross charge-offs for the three months ended
$— $— $— $— $— $— $— $— $— 
Commercial
      
Risk rating:
Pass (Grades 1-6)$18,495 $37,893 $72,288 $21,400 $24,715 $76,407 $131,607 $26,031 $408,836 
Special mention (Grade 7)— — 832 — — 4 118 — 954 
Substandard (Grade 8)— — — 455 1,047 505 327 2,570 4,904 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial$18,495 $37,893 $73,120 $21,855 $25,762 $76,916 $132,052 $28,601 $414,694 
Gross charge-offs for the three months ended
$— $— $100 $— $— $240 $279 $8 $627 
Residential Real Estate      
Risk rating:
Pass (Grades 1-6)$42,193 $189,852 $105,420 $119,154 $533,241 $998,203 $457 $1,665 $1,990,185 
Special mention (Grade 7)— — — — 729 2,521 — — 3,250 
Substandard (Grade 8)— — — — — — — — — 
Doubtful (Grade 9)— — — — — — — — — 
Total residential real estate$42,193 $189,852 $105,420 $119,154 $533,970 $1,000,724 $457 $1,665 $1,993,435 
Gross charge-offs for the three months ended
$— $— $— $— $— $— $— $— $— 
Home equity
      
Risk rating:
Performing$106 $2,958 $3,444 $13,057 $17,925 $11,379 $276,652 $16,757 $342,278 
Non-performing— — — — — 31 346 219 596 
Total home equity
$106 $2,958 $3,444 $13,057 $17,925 $11,410 $276,998 $16,976 $342,874 
Gross charge-offs for the three months ended
$— $— $— $— $— $— $— $— $— 
Consumer
      
Risk rating:
Performing$2,103 $3,633 $2,412 $2,638 $1,472 $1,023 $2,990 $— $16,271 
Non-performing— — — 2 — — — — 2 
Total consumer
$2,103 $3,633 $2,412 $2,640 $1,472 $1,023 $2,990 $— $16,273 
Gross charge-offs for the three months ended
$— $— $5 $13 $9 $— $16 $— $43 
Revolving Loans
(In thousands)20252024202320222021Prior
Amortized Cost Basis
Converted to Term
Total
As of and for the year ended December 31, 2025
Commercial real estate - non-owner-occupied
Risk rating:
Pass (Grades 1-6)$195,567 $115,477 $105,941 $365,087 $301,695 $622,183 $— $— $1,705,950 
Special mention (Grade 7)— — 2,930 21,809 3,820 3,360 — — 31,919 
Substandard (Grade 8)— 163 2,759 1,828 9,240 27,126 — — 41,116 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - non-owner-occupied$195,567 $115,640 $111,630 $388,724 $314,755 $652,669 $— $— $1,778,985 
Gross charge-offs for the year ended$— $— $— $3,002 $— $27 $— $— $3,029 
Commercial real estate - owner-occupied
Risk rating:
Pass (Grades 1-6)$57,560 $52,520 $33,877 $44,121 $81,853 $114,789 $— $— $384,720 
Special mention (Grade 7)— — 1,917 802 7 362 — — 3,088 
Substandard (Grade 8)— 406 — 6,168 1,640 10,098 — — 18,312 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - owner-occupied$57,560 $52,926 $35,794 $51,091 $83,500 $125,249 $— $— $406,120 
Gross charge-offs for the year ended$— $— $— $185 $— $6 $— $— $191 
Commercial
Risk rating:
Pass (Grades 1-6)$44,856 $75,863 $23,409 $27,740 $20,248 $56,358 $132,366 $30,888 $411,728 
Special mention (Grade 7)— 490 — — — — 239 199 928 
Substandard (Grade 8)— 101 542 1,013 285 242 1,501 1,099 4,783 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial$44,856 $76,454 $23,951 $28,753 $20,533 $56,600 $134,106 $32,186 $417,439 
Gross charge-offs for the year ended
$69 $2,536 $7,070 $76 $18 $1,041 $211 $1,638 $12,659 
Residential Real Estate
Risk rating:
Pass (Grades 1-6)$190,648 $123,858 $130,316 $544,724 $547,965 $469,671 $447 $1,673 $2,009,302 
Special mention (Grade 7)— — — — — — — — — 
Substandard (Grade 8)— — — 819 792 2,009 — — 3,620 
Doubtful (Grade 9)— — — — — — — — — 
Total residential real estate$190,648 $123,858 $130,316 $545,543 $548,757 $471,680 $447 $1,673 $2,012,922 
Gross charge-offs for the year ended
$— $— $— $— $— $4 $— $— $4 
Home equity
Risk rating:
Performing$2,945 $3,660 $14,036 $18,609 $400 $11,475 $263,240 $17,219 $331,584 
Non-performing— — — — — 35 393 244 672 
Total home equity$2,945 $3,660 $14,036 $18,609 $400 $11,510 $263,633 $17,463 $332,256 
Gross charge-offs for the year ended
$— $— $— $— $— $— $18 $3 $21 
Consumer
Risk rating:
Performing$4,203 $2,761 $3,174 $1,781 $465 $2,085 $2,944 $— $17,413 
Non-performing— — 3 — — — — — 3 
Total consumer$4,203 $2,761 $3,177 $1,781 $465 $2,085 $2,944 $— $17,416 
Gross charge-offs for the year ended$5 $34 $51 $6 $1 $56 $32 $— $185 
Loan Aging Analysis by Portfolio Segment
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 Due		60-89 Days
Past Due		90 Days or Greater
Past Due		Total
Past Due		CurrentTotal Loans
Outstanding		Loans > 90
Days Past
Due and
Accruing
March 31, 2026       
Commercial real estate - non-owner-occupied$406 $393 $4,665 $5,464 $1,774,615 $1,780,079 $— 
Commercial real estate - owner-occupied— — 20 20 415,642 415,662 — 
Commercial986 550 2,190 3,726 410,968 414,694 — 
Residential real estate872 48 652 1,572 1,991,863 1,993,435 — 
Home equity250 159 338 747 342,127 342,874 — 
Consumer51 7 — 58 16,215 16,273 — 
Total$2,565 $1,157 $7,865 $11,587 $4,951,430 $4,963,017 $— 
December 31, 2025       
Commercial real estate - non-owner-occupied$4,698 $— $3 $4,701 $1,774,284 $1,778,985 $— 
Commercial real estate - owner-occupied586 210 — 796 405,324 406,120 — 
Commercial1,462 66 1,915 3,443 413,996 417,439 — 
Residential real estate1,448 312 1,380 3,140 2,009,782 2,012,922 — 
Home equity779 30 444 1,253 331,003 332,256 — 
Consumer42 17 — 59 17,357 17,416 — 
Total$9,015 $635 $3,742 $13,392 $4,951,746 $4,965,138 $— 
Financing Receivable, Nonaccrual
The following table presents the amortized cost basis of loans on non-accrual status by portfolio segment as of the dates indicated:
March 31,
2026		December 31,
2025
(In thousands)Non-Accrual Loans With an Allowance
Non-Accrual Loans Without an Allowance
Total Non-Accrual LoansNon-Accrual Loans With an AllowanceNon-Accrual Loans Without an AllowanceTotal Non-Accrual Loans
Commercial real estate - non-owner-occupied$5,017 $— $5,017 $429 $— $429 
Commercial real estate - owner-occupied403 — 403 210 — 210 
Commercial2,689 — 2,689 3,003 39 3,042 
Residential real estate2,252 — 2,252 2,667 — 2,667 
Home equity596 — 596 672 — 672 
Consumer2 — 2 3 — 3 
Total$10,959 $— $10,959 $6,984 $39 $7,023 

The Company's policy is to reverse previously recorded accrued interest income when a loan is placed on non-accrual, as such, the Company did not record any interest income on its non-accrual loans for the three months ended March 31, 2026 and 2025.

Interest income that would have been recognized if loans on non-accrual status had been current in accordance with their original terms, including accrued interest reversed during the period when loans were placed on non‑accrual, is estimated to have been $263,000 and $73,000 for the three months ended March 31, 2026 and 2025, respectively.

Collateral-dependent loans are loans for which repayment is expected to be provided substantially by the underlying collateral and there are no other available and reliable sources of repayment. The following table presents the amortized cost basis of collateral-dependent loans by portfolio segment and collateral type, as of the dates indicated:
March 31,
2026		December 31,
2025
Collateral Type
Total Collateral -Dependent Non-Accrual Loans
Collateral Type
Total Collateral -Dependent Non-Accrual Loans
(In thousands)Real EstateOther AssetsReal Estate Other Assets
Commercial real estate - non-owner occupied$4,524 $— $4,524 $— $— $— 
Commercial
— 880 880 — 39 39 
Residential real estate— — — 597 — 597 
Total$4,524 $880 $5,404 $597 $39 $636