v3.26.1
LOANS AND ALLOWANCE FOR CREDIT LOSSES ON LOANS (Tables)
 6 Months Ended
Jun. 30, 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)June 30,
2026		December 31,
2025
Commercial Loans:
Commercial real estate - non-owner-occupied$1,778,428 $1,778,985 
Commercial real estate - owner-occupied412,674 406,120 
Commercial431,211 417,439 
Total commercial loans2,622,313 2,602,544 
Retail Loans:
Residential real estate1,997,226 2,012,922 
Home equity367,818 332,256 
Consumer17,111 17,416 
Total retail loans2,382,155 2,362,594 
Total loans$5,004,468 $4,965,138 
Schedule of Loan Balances by Portfolio Segment
The loan balances for each portfolio segment presented above are net of their respective unamortized fair value mark discount on acquired loans and net of unamortized loan origination costs for the dates indicated:
(In thousands)June 30,
2026		December 31,
2025
Net unamortized fair value mark discount on acquired loans$(72,496)$(79,747)
Net unamortized loan origination costs7,270 7,022 
Total$(65,226)$(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
 June 30, 2026
Beginning balance, March 31, 2026
$18,400 $4,048 $6,088 $13,121 $3,810 $109 $45,576 
Charge-offs— — (602)(24)— (48)(674)
Recoveries1 — 220 6 — 7 234 
(Credit) provision for loan losses(657)(70)690 358 105 42 468 
Ending balance, June 30, 2026
$17,744 $3,978 $6,396 $13,461 $3,915 $110 $45,604 
As of or for the Six Months Ended
  June 30, 2026
Beginning balance, December 31, 2025
$18,304 $4,328 $5,718 $12,832 $3,950 $144 $45,276 
Charge-offs— — (1,229)(24)— (91)(1,344)
Recoveries1 4 372 12 — 9 398 
(Credit) provision for loan losses(561)(354)1,535 641 (35)48 1,274 
Ending balance, June 30, 2026
$17,744 $3,978 $6,396 $13,461 $3,915 $110 $45,604 
As of or for the Three Months Ended
  June 30, 2025
Beginning balance, March 31, 2025
$18,952 $4,192 $6,135 $13,872 $3,416 $156 $46,723 
Charge-offs— — (350)— — (75)(425)
Recoveries1 — 120 5 — 2 128 
Provision (credit) for loan losses
445 122 6,170 (368)149 78 6,596 
Ending balance, June 30, 2025
$19,398 $4,314 $12,075 $13,509 $3,565 $161 $53,022 
As of or for the Six Months Ended
  June 30, 2025
Beginning balance, December 31, 2024
$14,897 $2,481 $5,856 $9,979 $2,397 $118 $35,728 
Charge-offs— (191)(1,245)(4)(3)(102)(1,545)
Recoveries2 51 230 11 — 5 299 
Acquired PCD loans
1,659 340 575 305 165 27 3,071 
Provision for loan losses:
Provision for acquired non-PCD loans
2,335 840 816 1,979 268 55 6,293 
General provision for loan losses505 793 5,843 1,239 738 58 9,176 
Total provision for loan losses2,840 1,633 6,659 3,218 1,006 113 15,469 
Ending balance, June 30, 2025
$19,398 $4,314 $12,075 $13,509 $3,565 $161 $53,022 
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 loan 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 June 30, 2026
Commercial real estate - non-owner-occupied
Risk rating:
Pass (Grades 1-6)$84,379 $196,766 $113,041 $88,297 $311,074 $871,865 $— $— $1,665,422 
Special mention (Grade 7)— 1,000 — — 14,829 3,784 — — 19,613 
Substandard (Grade 8)— — 284 15,418 51,079 26,612 — — 93,393 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - non-owner-occupied$84,379 $197,766 $113,325 $103,715 $376,982 $902,261 $— $— $1,778,428 
Gross charge-offs for the six months ended $— $— $— $— $— $— $— $— $— 
Commercial real estate - owner-occupied
Risk rating:
Pass (Grades 1-6)$32,907 $57,487 $49,609 $29,731 $44,425 $176,786 $— $— $390,945 
Special mention (Grade 7)— — 873 — — 439 — — 1,312 
Substandard (Grade 8)— — 395 2,428 2,776 14,818 — — 20,417 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial real estate - owner occupied$32,907 $57,487 $50,877 $32,159 $47,201 $192,043 $— $— $412,674 
Gross charge-offs for the six months ended
$— $— $— $— $— $— $— $— $— 
Commercial
Risk rating:
Pass (Grades 1-6)$42,740 $34,638 $68,954 $17,599 $20,583 $72,000 $122,064 $41,104 $419,682 
Special mention (Grade 7)— 552 860 312 9 124 306 3,277 5,440 
Substandard (Grade 8)— 149 — 470 2,254 540 812 1,864 6,089 
Doubtful (Grade 9)— — — — — — — — — 
Total commercial$42,740 $35,339 $69,814 $18,381 $22,846 $72,664 $123,182 $46,245 $431,211 
Gross charge-offs for the six months ended
$30 $— $146 $20 $27 $472 $333 $201 $1,229 
Residential Real Estate
Risk rating:
Pass (Grades 1-6)$108,603 $180,244 $95,569 $111,459 $525,421 $970,101 $468 $1,658 $1,993,523 
Special mention (Grade 7)— — — — — — — — — 
Substandard (Grade 8)— — — 416 721 2,566 — — 3,703 
Doubtful (Grade 9)— — — — — — — — — 
Total residential real estate$108,603 $180,244 $95,569 $111,875 $526,142 $972,667 $468 $1,658 $1,997,226 
Gross charge-offs for the six months ended
$— $— $— $— $— $24 $— $— $24 
Home equity
Risk rating:
Performing$1,066 $2,812 $3,062 $11,764 $17,363 $10,792 $303,851 $16,607 $367,317 
Non-performing— — — — — 38 342 121 501 
Total home equity
$1,066 $2,812 $3,062 $11,764 $17,363 $10,830 $304,193 $16,728 $367,818 
Gross charge-offs for the three months ended
$— $— $— $— $— $— $— $— $— 
Consumer
Risk rating:
Performing$1,973 $3,138 $2,073 $2,033 $1,222 $2,215 $4,456 $— $17,110 
Non-performing— — — 1 — — — — 1 
Total consumer
$1,973 $3,138 $2,073 $2,034 $1,222 $2,215 $4,456 $— $17,111 
Gross charge-offs for the six months ended
$19 $17 $5 $22 $9 $— $19 $— $91 
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 $11,478 $263,240 $17,219 $331,587 
Non-performing— — — — — 32 393 244 669 
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
June 30, 2026
Commercial real estate - non-owner-occupied$1,365 $744 $5,084 $7,193 $1,771,235 $1,778,428 $— 
Commercial real estate - owner-occupied95 1,096 — 1,191 411,483 412,674 — 
Commercial1,997 613 2,259 4,869 426,342 431,211 — 
Residential real estate1,186 516 1,261 2,963 1,994,263 1,997,226 — 
Home equity204 220 256 680 367,138 367,818 — 
Consumer30 16 — 46 17,065 17,111 — 
Total$4,877 $3,205 $8,860 $16,942 $4,987,526 $5,004,468 $— 
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:
June 30,
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$950 $4,524 $5,474 $429 $— $429 
Commercial real estate - owner-occupied580 — 580 210 — 210 
Commercial2,871 — 2,871 3,003 39 3,042 
Residential real estate2,715 — 2,715 2,667 — 2,667 
Home equity501 — 501 672 — 672 
Consumer1 — 1 3 — 3 
Total$7,618 $4,524 $12,142 $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 and six months ended June 30, 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 $130,000 and $183,000 for the three months ended June 30, 2026 and 2025, respectively and for the six months ended June 30, 2026 and 2025 is estimated to have been $393,000 and $256,000, 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:
June 30,
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
— 601 601 — 39 39 
Residential real estate— — — 597 — 597 
Total$4,524 $601 $5,125 $597 $39 $636