v3.26.1
Loans Receivable and ACL-Loans (Tables)
 6 Months Ended
Jun. 30, 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 June 30, 2026 and December 31, 2025:
(In thousands)June 30, 2026December 31, 2025
Real estate loans:
Residential$28,464 $33,139 
Commercial1,989,747 1,930,979 
Construction153,522 153,778 
2,171,733 2,117,896 
Commercial business715,934 645,321 
Consumer72,026 76,855 
Total loans2,959,693 2,840,072 
ACL-Loans(30,627)(30,705)
Deferred loan origination fees, net(4,176)(4,926)
Loans receivable, net$2,924,890 $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 and six months ended June 30, 2026 and 2025, by portfolio segment:

Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal
(In thousands)
Three Months Ended June 30, 2026
Beginning balance$48 $18,588 $1,912 $7,706 $1,326 $29,580 
Charge-offs— — — (13)(35)(48)
Recoveries— 10 — 8 32 50 
(Credit) provision for credit losses(5)230 519 (38)339 1,045 
Ending balance$43 $18,828 $2,431 $7,663 $1,662 $30,627 

Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal
(In thousands)
Three Months Ended June 30, 2025
Beginning balance$87 $20,562 $2,216 $5,244 $1,376 $29,485 
Charge-offs— — — (15)(5)(20)
Recoveries— — — 112 10 122 
(Credit) provision for credit losses(22)(1,270)688 185 88 (331)
Ending balance$65 $19,292 $2,904 $5,526 $1,469 $29,256 
Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal
(In thousands)
Six Months Ended June 30, 2026
Beginning balance$55 $20,255 $2,251 $6,635 $1,509 $30,705 
Charge-offs— — — (161)(108)(269)
Recoveries— 14 — 23 65 102 
(Credit) provision for credit losses(12)(1,441)180 1,166 196 89 
Ending balance$43 $18,828 $2,431 $7,663 $1,662 $30,627 

Residential Real EstateCommercial Real EstateConstructionCommercial BusinessConsumerTotal
(In thousands)
Six Months Ended June 30, 2025
Beginning balance$94 $21,838 $2,059 $4,070 $946 $29,007 
Charge-offs— (67)— (15)(37)(119)
Recoveries— — — 116 46 162 
(Credit) provision for credit losses(29)(2,479)845 1,355 514 206 
Ending balance$65 $19,292 $2,904 $5,526 $1,469 $29,256 
Loans evaluated for impairment and the related ACL-Loans as of June 30, 2026 and December 31, 2025 were as follows:
PortfolioACL-Loans
(In thousands)
June 30, 2026
Loans individually evaluated for impairment:
Residential real estate$2,687 $— 
Commercial real estate42,158 — 
Construction— — 
Commercial business1,676 — 
Consumer25,852 — 
Subtotal72,373 — 
Loans collectively evaluated for impairment:
Residential real estate25,777 43 
Commercial real estate1,947,589 18,828 
Construction153,522 2,431 
Commercial business714,258 7,663 
Consumer46,174 1,662 
Subtotal2,887,320 30,627 
Total$2,959,693 $30,627 

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 and six months ended June 30, 2026 and June 30, 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Balance at beginning of period$415 $682 $488 $756 
Provision (credit) for credit losses (unfunded commitments)183 (80)110 (154)
Balance at end of period$598 $602 $598 $602 
The following table summarizes the Provision for credit losses for the three and six months ended June 30, 2026 and June 30, 2025:
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Provision (credit) for credit losses (loans)$1,045 $(331)$89 $206 
Provision (credit) for credit losses (unfunded commitments)183 (80)110 (154)
Provision (credit) for credit losses$1,228 $(411)$199 $52 
Schedule of Loan Origination and Risk Designation and Credit Risk Rating The following tables present loans by origination, risk designation on an amortized cost basis (which includes deferred fees and costs and accrued interest), and charge-offs as of June 30, 2026 and December 31, 2025 (dollars in thousands):
Term Loans
Amortized Cost Balances by Origination Year as of June 30, 2026
20262025202420232022PriorTotal
Residential Real Estate Loans
Pass$— $— $— $— $— $25,635 $25,635 
Special Mention— — — — — 268 268 
Substandard— — — — — 2,701 2,701 
Doubtful— — — — — — — 
Total Residential Real Estate Loans$— $— $— $— $— $28,604 $28,604 
Residential Real Estate charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Commercial Real Estate Loans
Pass$265,262 $346,742 $83,841 $85,929 $505,355 $620,808 $1,907,937 
Special Mention— — 9,796 — 27,789 8,440 46,025 
Substandard— — 22,513 — 4,785 14,906 42,204 
Doubtful— — — — — — — 
Total Commercial Real Estate Loans$265,262 $346,742 $116,150 $85,929 $537,929 $644,154 $1,996,166 
Commercial Real Estate charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Construction Loans
Pass$8,461 $38,782 $43,933 $42,043 $5,831 $— $139,050 
Special Mention— — — — 15,274 — 15,274 
Substandard— — — — — — — 
Doubtful— — — — — — — 
Total Construction Loans$8,461 $38,782 $43,933 $42,043 $21,105 $— $154,324 
Construction charge-off
Current period charge-offs$— $— $— $— $— $— $— 
Commercial Business Loans
Pass$124,425 $257,827 $86,224 $62,236 $120,859 $60,013 $711,584 
Special Mention— 968 1,005 — 3,879 — 5,852 
Substandard— 275 — 10 — 1,340 1,625 
Doubtful— 84 — — — — 84 
Total Commercial Business Loans$124,425 $259,154 $87,229 $62,246 $124,738 $61,353 $719,145 
Commercial Business charge-off
Current period charge-offs$— $42 $— $— $— $119 $161 
Consumer Loans
Pass$5,635 $24,386 $22,541 $3,020 $15,416 $37 $71,035 
Special Mention— — — — — — — 
Substandard— — — — — — — 
Doubtful— — — — — — — 
Total Consumer Loans$5,635 $24,386 $22,541 $3,020 $15,416 $37 $71,035 
Consumer charge-off
Current period charge-offs$— $24 $55 $— $24 $5 $108 
Total Loans
Pass$403,783 $667,737 $236,539 $193,228 $647,461 $706,493 $2,855,241 
Special Mention— 968 10,801 — 46,942 8,708 67,419 
Substandard— 275 22,513 10 4,785 18,947 46,530 
Doubtful— 84 — — — — 84 
Total Loans$403,783 $669,064 $269,853 $193,238 $699,188 $734,148 $2,969,274 
Total charge-off
Current period charge-offs$— $66 $55 $— $24 $124 $269 
Term Loans
Amortized Cost Balances by Origination Year as of December 31, 2025
20252024202320222021PriorTotal
Residential Real Estate Loans
Pass$— $— $— $— $— $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 June 30, 2026 and December 31, 2025:
Commercial Credit Quality Indicators
June 30, 2026December 31, 2025
Commercial Real EstateConstructionCommercial BusinessTotalCommercial Real EstateConstructionCommercial BusinessTotal
(In thousands)
Pass$1,901,845 $138,336 $708,458 $2,748,639 $1,832,061 $134,141 $638,012 $2,604,214 
Special Mention45,744 15,186 5,800 66,730 55,114 19,637 5,400 80,151 
Substandard42,158 — 1,592 43,750 43,804 — 1,909 45,713 
Doubtful— — 84 84 — — — — 
Loss— — — — — — — — 
Total loans$1,989,747 $153,522 $715,934 $2,859,203 $1,930,979 $153,778 $645,321 $2,730,078 

Residential and Consumer Credit Quality Indicators
June 30, 2026December 31, 2025
Residential Real EstateConsumerTotalResidential Real EstateConsumerTotal
(In thousands)
Pass$25,512 $72,026 $97,538 $30,110 $76,855 $106,965 
Special Mention265 — 265 278 — 278 
Substandard2,687 — 2,687 2,751 — 2,751 
Doubtful— — — — — — 
Loss— — — — — — 
Total loans$28,464 $72,026 $100,490 $33,139 $76,855 $109,994 
Schedule of Information with Respect to our Loan Portfolio Delinquencies by Portfolio Segment and Amount
The following tables set forth certain information with respect to the Company's loan portfolio delinquencies by portfolio segment as of June 30, 2026 and December 31, 2025:
June 30, 2026
30-59 Days Past Due60-89 Days Past Due90 Days or Greater Past DueTotal Past DueCurrentTotal Loans
(In thousands)
Real estate loans:
Residential real estate$— $— $530 $530 $27,934 $28,464 
Commercial real estate1,532 — 13,923 15,455 1,974,292 1,989,747 
Construction— — — — 153,522 153,522 
Commercial business49 949 617 1,615 714,319 715,934 
Consumer— — — — 72,026 72,026 
Total loans$1,581 $949 $15,070 $17,600 $2,942,093 $2,959,693 

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 June 30, 2026 and December 31, 2025:
June 30, 2026December 31, 2025
(In thousands)
Residential real estate$530 $557 
Commercial real estate13,923 14,445 
Commercial business1,404 1,302 
Construction— — 
Consumer— — 
Total$15,857 $16,304 
Schedule of Individually Evaluated Loans by Portfolio Segment
The following table summarizes individually evaluated loans by portfolio segment as of June 30, 2026 and December 31, 2025.
Carrying AmountUnpaid Principal BalanceAssociated ACL-Loans
June 30, 2026December 31, 2025June 30, 2026December 31, 2025June 30, 2026December 31, 2025
(In thousands)
Individually evaluated loans without a valuation allowance:
Residential real estate$2,687 $2,751 $3,054 $3,098 $— $— 
Commercial real estate42,158 35,767 51,964 45,462 — — 
Construction— — — — — — 
Commercial business1,676 1,595 2,391 2,290 — — 
Consumer25,852 38,820 25,852 38,820 — — 
Total individually evaluated loans without a valuation allowance$72,373 $78,933 $83,261 $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$72,373 $78,933 $83,261 $89,670 $— $— 
The following tables summarize the average carrying amount of individually evaluated loans and interest income recognized on individually evaluated loans by portfolio segment for the three and six months ended June 30, 2026 and 2025:
Average Carrying AmountInterest Income Recognized
Three Months Ended June 30,Three Months Ended June 30,
2026202520262025
(In thousands)
Individually evaluated loans without a valuation allowance:
Residential real estate$2,700 $2,979 $42 $43 
Commercial real estate42,602 17,371 513 84 
Commercial business1,685 7,000 55 55 
Construction— — — — 
Consumer25,380 40,489 357 382 
Total individually evaluated loans without a valuation allowance$72,367 $67,839 $967 $564 
Individually evaluated loans with a valuation allowance:
Residential real estate$— $— $— $— 
Commercial real estate— — — — 
Commercial business— — — — 
Construction— — — — 
Consumer— — — — 
Total individually evaluated loans with a valuation allowance— — — — 
Total individually evaluated loans$72,367 $67,839 $967 $564 
Average Carrying AmountInterest Income Recognized
Six Months Ended June 30,Six Months Ended June 30,
2026202520262025
(In thousands)
Individually evaluated loans without a valuation allowance:
Residential real estate$2,715 $3,025 $84 $103 
Commercial real estate44,648 17,766 1,033 129 
Commercial business1,774 7,322 105 70 
Construction— — — — 
Consumer29,825 47,369 646 775 
Total individually evaluated loans without a valuation allowance$78,962 $75,482 $1,868 $1,077 
Individually evaluated loans with a valuation allowance:
Residential real estate$— $— $— $— 
Commercial real estate— — — — 
Commercial business— — — — 
Construction— — — — 
Consumer— — — — 
Total individually evaluated loans with a valuation allowance— — — — 
Total individually evaluated loans$78,962 $75,482 $1,868 $1,077