Loans (Tables)

6 Months Ended

Jun. 30, 2026

Receivables [Abstract]

Summary of Major Classification of Loans

Major classifications of loans at the indicated dates are as follows:



(In thousands)		June 30, 2026				December 31, 2025
Residential mortgage loans:
1-4 family first-lien residential mortgages		$	233,501			$	239,692
Construction			1,242				2,039
Total residential mortgage loans			234,743				241,731
Commercial loans:
Real estate			388,154				380,311
Lines of credit			77,886				75,371
Other commercial and industrial			75,987				81,210
Paycheck Protection Program loans			41				63
Tax exempt loans			2,512				6,716
Total commercial loans			544,580				543,671
Consumer loans:
Home equity and junior liens			53,219				49,783
Other consumer			57,232				62,825
Total consumer loans			110,451				112,608
Subtotal loans			889,774				898,010
Net deferred loan fees			(799	)			(1,340	)
Loans, net of deferred fees			888,975				896,670
Less allowance for credit losses			26,920				29,436
Loans receivable, net		$	862,055			$	867,234

Summary of Purchased Loans Pools

The following tables detail the purchased loan positions held by the Bank at June 30, 2026 and December 31, 2025. The date of earliest acquisition is depicted within the tables below:


		June 30, 2026
(In thousands, except number of loans)		Original Balance				Current Balance				Unamortized Premium/ (Discount)				Number of Loans				Maturity Range (in years)		Cumulative net charge-offs
Commercial and industrial loans (6/2019)		$	6,800			$	390			$	-				12			1-3		$	-
Home equity lines of credit (8/2019)			21,900				2,400				-				68			3-24			74
Residential real estate loans (12/2019)			4,300				3,800				251				50			15-25			-
Unsecured consumer loan pool 1 (12/2019)			5,400				6				-				3			0-1			-
Unsecured consumer installment loans pool 3 (12/2019)			10,300				35				-				29			0-7			145
Secured consumer installment loans pool 4 (12/2020)			14,500				7,700				(1,130	)			444			19-23			-
Unsecured consumer loans pool 5 (1/2021) 1			24,400				10,100				(288	)			535			5-20			1,461
Secured consumer installment loans (11/2021)			21,300				13,900				(2,410	)			759			15-23			1,061
Unsecured consumer loans pool 6 (11/2021) 1			22,200				12,800				(1,724	)			475			5-22			1,654
Revolving commercial line of credit 1 (7/2024)			1,050				14,000				14				1			0-1			-
Revolving commercial line of credit 2 (3/2026)			5,000				4,400				9				1			0-1			-
Revolving commercial line of credit 3 (5/2026)			360				360				10				1			0-1			-
Total		$	137,510			$	69,891			$	(5,268	)			2,378					$	4,395

		December 31, 2025
(In thousands, except number of loans)		Original Balance				Current Balance				Unamortized Premium/ (Discount)				Number of Loans				Maturity Range (in years)		Cumulative net charge-offs
Commercial and industrial loans (6/2019)		$	6,800			$	700			$	-				16			1-4		$	-
Home equity lines of credit (8/2019)			21,900				2,700				2				74			3-24			103
Residential real estate loans (12/2019)			4,300				3,900				266				51			15-23			-
Unsecured consumer loan pool 1 (12/2019)			5,400				100				-				29			0-1			-
Unsecured consumer installment loans pool 3 (12/2019)			10,300				45				1				31			0-7			112
Secured consumer installment loans pool 4 (12/2020)			14,500				8,100				(1,189	)			452			20-23			24
Unsecured consumer loans pool 5 (1/2021) 1			24,400				10,800				(313	)			552			5-20			1,361
Secured consumer installment loans (11/2021)			21,300				14,700				(2,537	)			771			15-23			803
Unsecured consumer loans pool 6 (11/2021) 1			22,200				13,500				(1,822	)			490			5-20			1,573
Revolving commercial line of credit 1 (7/2024)			1,050				14,000				19				1			0-1			-
Total		$	132,150			$	68,545			$	(5,573	)			2,467					$	3,976

1 On December 7, 2023, the Bank settled two pay-fixed interest rate swap derivative contracts, previously established with an unaffiliated third party and designated as fair value interest rate hedges. The hedging swap contracts were related to two purchased consumer installment loan pools comprised of loans secured by residential home solar power infrastructure. These contracts were entered into on February 13, 2021 (notional amount of $12.2 million) and December 8, 2021 (notional amount of $8.5 million). The Bank realized gains related to the settlement of these two hedging contracts were $117,000 and $694,000, respectively. These gains on the extinguishments of the hedging swap contracts are reported as a reduction of the carrying value of the hedged loan pools and will be recognized as an enhancement to the reported yield on those loan pools over the original contractual life of the hedging swap contracts. The unamortized portion of these gains totaled $570,000 at June 30, 2026.

Summary of Aggregate Pass Rating and the Classified Ratings

The following tables present the classes of the loan portfolio as of June 30, 2026, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated:


		Term Loans By Origination Year
(In thousands)		2026				2025				2024				2023				2022				Prior				Revolving loans				Revolving loans converted to term loans				Total
Commercial real estate:
Pass		$	13,773			$	56,235			$	43,142			$	29,145			$	49,012			$	149,785			$	-			$	-			$	341,092
Special Mention			-				-				6,048				11,758				560				8,753				-				-				27,119
Substandard			-				3,474				824				1,232				7,247				7,116				-				-				19,893
Doubtful			-				-				-				-				-				50				-				-				50
Total commercial real estate			13,773				59,709				50,014				42,135				56,819				165,704				-				-				388,154
Commercial lines of credit:
Pass			-				-				-				-				-				-				65,788				3,979				69,767
Special Mention			-				-				-				-				-				-				5,965				147				6,112
Substandard			-				-				-				-				-				-				1,915				78				1,993
Doubtful			-				-				-				-				-				-				14				-				14
Total commercial lines of credit			-				-				-				-				-				-				73,682				4,204				77,886
Other commercial and industrial:
Pass			4,572				12,463				12,084				9,573				10,240				12,526				2,304				-				63,762
Special Mention			-				916				1,168				2,026				-				463				-				-				4,573
Substandard			-				-				189				170				-				4,938				-				-				5,297
Doubtful			-				-				-				2,355				-				-				-				-				2,355
Total other commercial and industrial			4,572				13,379				13,441				14,124				10,240				17,927				2,304				-				75,987
Paycheck Protection Program loans:
Pass			-				-				-				-				-				41				-				-				41
Special Mention			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Doubtful			-				-				-				-				-				-				-				-				-
Total Paycheck Protection Program loans			-				-				-				-				-				41				-				-				41
Tax exempt loans:
Pass			-				2,150				2				-				-				360				-				-				2,512
Special Mention			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Doubtful			-				-				-				-				-				-				-				-				-
Total tax exempt loans			-				2,150				2				-				-				360				-				-				2,512
1-4 family first-lien residential mortgages:
Pass			9,155				11,650				10,086				13,596				24,944				159,380				-				-				228,811
Special Mention			-				123				-				-				156				2,070				-				-				2,349
Substandard			-				-				-				-				97				1,495				-				-				1,592
Doubtful			-				-				-				107				-				642				-				-				749
Total 1-4 family first-lien residential mortgages			9,155				11,773				10,086				13,703				25,197				163,587				-				-				233,501
Residential construction:
Pass			533				709				-				-				-				-				-				-				1,242
Special Mention			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Doubtful			-				-				-				-				-				-				-				-				-
Total residential construction			533				709				-				-				-				-				-				-				1,242
Home equity and junior liens:
Pass			3,511				1,850				2,243				3,112				2,554				11,604				25,800				1,137				51,811
Special Mention			-				-				-				40				229				52				-				6				327
Substandard			-				-				-				-				27				202				840				-				1,069
Doubtful			-				-				-				-				-				12				-				-				12
Total home equity and junior liens			3,511				1,850				2,243				3,152				2,810				11,870				26,640				1,143				53,219
Other Consumer:
Pass			1,170				2,135				1,905				47,002				1,985				2,840				-				-				57,037
Special Mention			-				-				26				-				-				78				-				-				104
Substandard			-				-				27				-				1				63				-				-				91
Doubtful			-				-				-				-				-				-				-				-				-
Total other consumer			1,170				2,135				1,958				47,002				1,986				2,981				-				-				57,232
Net deferred loan fees			84				57				42				(6	)			(158	)			(818	)			-				-				(799	)
Loans, net of deferred fees		$	32,798			$	91,762			$	77,786			$	120,110			$	96,894			$	361,652			$	102,626			$	5,347			$	888,975

The following tables present the classes of the loan portfolio as of December 31, 2025, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated:


		Term Loans By Origination Year
(In thousands)		2025				2024				2023				2022				2021				Prior				Revolving loans				Revolving loans converted to term loans				Total
Commercial real estate:
Pass		$	49,693			$	42,604			$	29,527			$	51,634			$	35,764			$	121,653			$	-			$	-			$	330,875
Special Mention			-				6,113				11,761				7,747				-				4,875				-				-				30,496
Substandard			3,474				830				1,235				2,220				8,456				2,674				-				-				18,889
Doubtful			-				-				-				-				-				51				-				-				51
Total commercial real estate			53,167				49,547				42,523				61,601				44,220				129,253				-				-				380,311
Commercial lines of credit:
Pass			-				-				-				-				-				-				64,594				2,516				67,110
Special Mention			-				-				-				-				-				-				6,080				-				6,080
Substandard			-				-				-				-				-				-				2,119				47				2,166
Doubtful			-				-				-				-				-				-				15				-				15
Total commercial lines of credit			-				-				-				-				-				-				72,808				2,563				75,371
Other commercial and industrial:
Pass			14,970				14,164				12,205				11,416				2,234				12,413				999				-				68,401
Special Mention			959				1,422				2,013				-				21				1,339				-				-				5,754
Substandard			-				189				310				-				9				4,192				-				-				4,700
Doubtful			-				-				2,355				-				-				-				-				-				2,355
Total other commercial and industrial			15,929				15,775				16,883				11,416				2,264				17,944				999				-				81,210
Paycheck Protection Program loans:
Pass			-				-				-				-				-				63				-				-				63
Special Mention			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Doubtful			-				-				-				-				-				-				-				-				-
Total Paycheck Protection Program loans			-				-				-				-				-				63				-				-				63
Tax exempt loans:
Pass			2,619				4				-				-				-				4,093				-				-				6,716
Special Mention			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Doubtful			-				-				-				-				-				-				-				-				-
Total tax exempt loans			2,619				4				-				-				-				4,093				-				-				6,716
1-4 family first-lien residential mortgages:
Pass			14,993				10,769				14,905				26,481				42,090				125,533				-				-				234,771
Special Mention			123				-				-				160				949				1,317				-				-				2,549
Substandard			-				-				107				100				89				1,429				-				-				1,725
Doubtful			-				-				-				-				-				647				-				-				647
Total 1-4 family first-lien residential mortgages			15,116				10,769				15,012				26,741				43,128				128,926				-				-				239,692
Residential construction:
Pass			2,039				-				-				-				-				-				-				-				2,039
Special Mention			-				-				-				-				-				-				-				-				-
Substandard			-				-				-				-				-				-				-				-				-
Doubtful			-				-				-				-				-				-				-				-				-
Total residential construction			2,039				-				-				-				-				-				-				-				2,039
Home equity and junior liens:
Pass			4,623				2,502				3,298				2,694				2,517				10,459				21,313				883				48,289
Special Mention			-				-				41				205				-				66				64				6				382
Substandard			-				-				-				27				-				208				865				-				1,100
Doubtful			-				-				-				-				12				-				-				-				12
Total home equity and junior liens			4,623				2,502				3,339				2,926				2,529				10,733				22,242				889				49,783
Other Consumer:
Pass			2,738				2,407				51,295				2,665				1,414				2,033				-				-				62,552
Special Mention			10				27				11				13				-				91				-				-				152
Substandard			-				40				4				12				65				-				-				-				121
Doubtful			-				-				-				-				-				-				-				-				-
Total other consumer			2,748				2,474				51,310				2,690				1,479				2,124				-				-				62,825
Net deferred loan fees			(371	)			62				(9	)			(170	)			(158	)			(694	)			-				-				(1,340	)
Loans, net of deferred fees		$	95,870			$	81,133			$	129,058			$	105,204			$	93,462			$	292,442			$	96,049			$	3,452			$	896,670

Summary of Age Analysis of Past Due Loans Segregated by Portfolio Segment and Class of Loans

An aging analysis of past due loans, not including net deferred loan costs, segregated by portfolio segment and class of loans, as of June 30, 2026 and December 31, 2025, are detailed in the following tables:


		As of June 30, 2026
		30-59 Days				60-89 Days				90 Days				Total								Total Loans
(In thousands)		Past Due				Past Due				and Over				Past Due				Current				Receivable
Residential mortgage loans:
1-4 family first-lien residential mortgages		$	2,734			$	847			$	2,080			$	5,661			$	227,840			$	233,501
Construction			-				-				-				-				1,242				1,242
Total residential mortgage loans			2,734				847				2,080				5,661				229,082				234,743
Commercial loans:
Real estate			1,170				-				22,762				23,932				364,222				388,154
Lines of credit			155				49				1,885				2,089				75,797				77,886
Other commercial and industrial			214				265				8,065				8,544				67,443				75,987
Paycheck Protection Program loans			-				-				-				-				41				41
Tax exempt loans			-				-				-				-				2,512				2,512
Total commercial loans			1,539				314				32,712				34,565				510,015				544,580
Consumer loans:
Home equity and junior liens			520				232				511				1,263				51,956				53,219
Other consumer			589				471				407				1,467				55,765				57,232
Total consumer loans			1,109				703				918				2,730				107,721				110,451
Total loans		$	5,382			$	1,864			$	35,710			$	42,956			$	846,818			$	889,774

		As of December 31, 2025
		30-59 Days				60-89 Days				90 Days				Total								Total Loans
(In thousands)		Past Due				Past Due				and Over				Past Due				Current				Receivable
Residential mortgage loans:
1-4 family first-lien residential mortgages		$	2,871			$	2,934			$	1,977			$	7,782			$	231,910			$	239,692
Construction			-				-				-				-				2,039				2,039
Total residential mortgage loans			2,871				2,934				1,977				7,782				233,949				241,731
Commercial loans:
Real estate			9,042				7,461				15,567				32,070				348,241				380,311
Lines of credit			444				-				1,135				1,579				73,792				75,371
Other commercial and industrial			315				508				7,914				8,737				72,473				81,210
Paycheck Protection Program loans			-				-				-				-				63				63
Tax exempt loans			-				-				-				-				6,716				6,716
Total commercial loans			9,801				7,969				24,616				42,386				501,285				543,671
Consumer loans:
Home equity and junior liens			615				229				537				1,381				48,402				49,783
Other consumer			649				399				431				1,479				61,346				62,825
Total consumer loans			1,264				628				968				2,860				109,748				112,608
Total loans		$	13,936			$	11,531			$	27,561			$	53,028			$	844,982			$	898,010

Summary of Nonaccrual Loans Segregated by Class of Loan

As of June 30, 2026 and December 31, 2025, the amount of interest income recognized on nonaccrual loans and the cost basis of nonaccrual loans, for which there is no ACL, are detailed in the following tables. All loans greater than 90 days past due are classified as nonaccrual.


		As of and for the six months ended June 30, 2026
(In thousands)		Nonaccrual Loans				Nonaccrual loans without related allowance for credit loss				Recognized interest income
Residential mortgage loans:
1-4 family first-lien residential mortgages		$	2,080			$	-			$	23
Total residential mortgage loans			2,080				-				23
Commercial loans:
Real estate			22,762				11,222				38
Lines of credit			1,885								2
Other commercial and industrial			8,065				184				42
Total commercial loans			32,712				11,406				82
Consumer loans:
Home equity and junior liens			511				-				6
Other consumer			407				-				13
Total consumer loans			918				-				19
Total nonaccrual loans		$	35,710			$	11,406			$	124


		As of and for the year ended December 31, 2025
(In thousands)		Nonaccrual Loans				Nonaccrual loans without related allowance for credit loss				Recognized interest income
Residential mortgage loans:
1-4 family first-lien residential mortgages		$	1,977			$	-			$	108
Total residential mortgage loans			1,977				-				108
Commercial loans:
Real estate			15,567				4,853				428
Lines of credit			1,135				-				109
Other commercial and industrial			7,914				-				449
Total commercial loans			24,616				4,853				986
Consumer loans:
Home equity and junior liens			537				-				44
Other consumer			431				-				20
Total consumer loans			968				-				64
Total nonaccrual loans		$	27,561			$	4,853			$	1,158

Summary of Amortized Cost Basis Of Loans

The following tables present the amortized cost basis of loans modified for borrowers experiencing financial difficulty, by class and by type of modification.


		Three Months Ended June 30, 2026								Three Months Ended June 30, 2025
(Dollars in thousands)		Term Extension				Total Class of Receivable				Term Extension				Total Class of Receivable
Residential mortgage loans		$	-				-			$	-				-
Commercial real estate			-				-				-				-
Commercial lines of credit			-				-				-				-
Commercial and industrial			-				-				2,369				2.8	%
Home equity and consumer			-				-				-				-
Total		$	-				0.0	%		$	2,369				2.8	%


		As of June 30, 2026								As of June 30, 2025
(In thousands)		Term Extension				Total Class of Receivable				Term Extension				Total Class of Receivable
Residential mortgage loans		$	-				-			$	-				-
Commercial real estate			-				-				2,017				0.5	%
Commercial lines of credit			25				0.0	%			-				-
Commercial and industrial			2,355				3.1	%			2,369				2.8	%
Home equity and consumer			-				-				-				-
Total		$	2,380				3.1	%		$	4,386				3.3	%


		Three Months Ended June 30, 2026								Three Months Ended June 30, 2025
(Dollars in thousands)		Interest Rate Reduction				Total Class of Receivable				Interest Rate Reduction				Total Class of Receivable
Residential mortgage loans		$	-				-			$	-				-
Commercial real estate			-				-				11,495				3.0	%
Commercial lines of credit			-				-				-				-
Commercial and industrial			-				-				-				-
Home equity and consumer			-				-				-				-
Total		$	-				0.0	%		$	11,495				3.0	%


		As of June 30, 2026								As of June 30, 2025
(In thousands)		Interest Rate Reduction				Total Class of Receivable				Interest Rate Reduction				Total Class of Receivable
Residential mortgage loans		$	-				-			$	-				-
Commercial real estate			11,495				3.0	%			11,495				3.0	%
Commercial lines of credit			-				-				-				-
Commercial and industrial			1,305				1.7	%			-				-
Home equity and consumer			-				-				-				-
Total		$	12,800				4.7	%		$	11,495				3.0	%