Allowance for Credit Losses (Tables)
|
6 Months Ended |
Jun. 30, 2026 |
|---|
| Allowance For Loan Losses [Abstract] |
|
| Schedule of Changes in the Allowance for Credit Losses |
The following tables summarize the activity related to the ACL as of and for the three and six months ended June 30, 2026 and 2025:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2026 |
|
(Dollars in thousands) |
|
Reserves as of March 31, 2026 |
|
|
Q2 2026 Charge-Offs |
|
|
Q2 2026 Recoveries |
|
|
Q2 2026 PCL |
|
|
Reserves as of June 30, 2026 |
|
Individually evaluated |
|
$ |
18,472 |
|
|
$ |
(1,604 |
) |
|
$ |
18 |
|
|
$ |
(199 |
) |
|
$ |
16,687 |
|
Collectively evaluated: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overdraft |
|
|
- |
|
|
|
(29 |
) |
|
|
5 |
|
|
|
24 |
|
|
|
- |
|
Pooled - quantitative |
|
|
9,274 |
|
|
|
(146 |
) |
|
|
32 |
|
|
|
4 |
|
|
|
9,164 |
|
Pooled - qualitative |
|
|
(1,229 |
) |
|
|
- |
|
|
|
- |
|
|
|
(11 |
) |
|
|
(1,240 |
) |
Purchased |
|
|
2,449 |
|
|
|
(383 |
) |
|
|
243 |
|
|
|
- |
|
|
|
2,309 |
|
Total ACL - Loans |
|
$ |
28,966 |
|
|
$ |
(2,162 |
) |
|
$ |
298 |
|
|
$ |
(182 |
) |
|
$ |
26,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACL - Held-To-Maturity Securities |
|
|
176 |
|
|
|
- |
|
|
|
- |
|
|
|
(22 |
) |
|
|
154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Liabilities - Unfunded Commitments |
|
|
588 |
|
|
|
- |
|
|
|
- |
|
|
|
49 |
|
|
|
637 |
|
Total ACL |
|
$ |
29,730 |
|
|
$ |
(2,162 |
) |
|
$ |
298 |
|
|
$ |
(155 |
) |
|
$ |
27,711 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended June 30, 2025 |
|
(Dollars in thousands) |
|
Reserves as of March 31, 2025 |
|
|
Q2 2025 Charge-Offs |
|
|
Q2 2025 Recoveries |
|
|
Q2 2025 PCL |
|
|
Reserves as of June 30, 2025 |
|
Individually evaluated |
|
$ |
2,490 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
(151 |
) |
|
$ |
2,339 |
|
Collectively evaluated: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overdraft |
|
|
- |
|
|
|
(28 |
) |
|
|
10 |
|
|
|
18 |
|
|
|
- |
|
Pooled - quantitative |
|
|
6,638 |
|
|
|
(2,371 |
) |
|
|
54 |
|
|
|
2,217 |
|
|
|
6,538 |
|
Pooled - qualitative |
|
|
4,428 |
|
|
|
- |
|
|
|
- |
|
|
|
(911 |
) |
|
|
3,517 |
|
Purchased |
|
|
3,851 |
|
|
|
(445 |
) |
|
|
183 |
|
|
|
- |
|
|
|
3,589 |
|
Total ACL - Loans |
|
$ |
17,407 |
|
|
$ |
(2,844 |
) |
|
$ |
247 |
|
|
$ |
1,173 |
|
|
$ |
15,983 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACL - Held-To-Maturity Securities |
|
|
257 |
|
|
|
- |
|
|
|
- |
|
|
|
5 |
|
|
|
262 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Liabilities - Unfunded Commitments |
|
|
503 |
|
|
|
- |
|
|
|
- |
|
|
|
19 |
|
|
|
522 |
|
Total ACL |
|
$ |
18,167 |
|
|
$ |
(2,844 |
) |
|
$ |
247 |
|
|
$ |
1,197 |
|
|
$ |
16,767 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Six Months Ended June 30, 2026 |
|
(Dollars in thousands) |
|
Reserves as of December 31, 2025 |
|
|
2026 Charge-Offs |
|
|
2026 Recoveries |
|
|
2026 PCL |
|
|
Reserves as of June 30, 2026 |
|
Individually evaluated |
|
$ |
18,142 |
|
|
$ |
(1,725 |
) |
|
$ |
18 |
|
|
$ |
252 |
|
|
$ |
16,687 |
|
Collectively evaluated: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Overdraft |
|
|
- |
|
|
|
(66 |
) |
|
|
11 |
|
|
|
55 |
|
|
|
- |
|
Pooled - quantitative |
|
|
8,336 |
|
|
|
(353 |
) |
|
|
448 |
|
|
|
733 |
|
|
|
9,164 |
|
Pooled - qualitative |
|
|
168 |
|
|
|
- |
|
|
|
- |
|
|
|
(1,408 |
) |
|
|
(1,240 |
) |
Purchased |
|
|
2,790 |
|
|
|
(783 |
) |
|
|
302 |
|
|
|
- |
|
|
|
2,309 |
|
Total ACL - Loans |
|
|
29,436 |
|
|
|
(2,927 |
) |
|
|
779 |
|
|
|
(368 |
) |
|
|
26,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
ACL - Held-To-Maturity Securities |
|
|
176 |
|
|
|
- |
|
|
|
- |
|
|
|
(22 |
) |
|
|
154 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other Liabilities - Unfunded Commitments |
|
|
570 |
|
|
|
- |
|
|
|
- |
|
|
|
67 |
|
|
|
637 |
|
Total ACL |
|
$ |
30,182 |
|
|
$ |
(2,927 |
) |
|
$ |
779 |
|
|
$ |
(323 |
) |
|
$ |
27,711 |
|
|
| Schedule of Changes in the Allowance for Loan Losses |
An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the three months ended June 30, 2026 |
|
(In thousands) |
|
1-4 family first-lien residential mortgage |
|
|
Residential construction mortgage |
|
|
Commercial real estate |
|
|
Commercial lines of credit |
|
|
Other commercial and industrial |
|
|
Paycheck Protection Program |
|
|
Tax exempt |
|
|
Home equity & junior liens |
|
|
Other consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance |
|
$ |
1,890 |
|
|
$ |
678 |
|
|
$ |
11,760 |
|
|
$ |
2,729 |
|
|
$ |
8,810 |
|
|
$ |
- |
|
|
$ |
5 |
|
|
$ |
587 |
|
|
$ |
2,507 |
|
|
$ |
28,966 |
|
Charge-offs |
|
|
- |
|
|
|
- |
|
|
|
(1,584 |
) |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
(48 |
) |
|
|
(530 |
) |
|
|
(2,162 |
) |
Recoveries |
|
|
1 |
|
|
|
- |
|
|
|
22 |
|
|
|
1 |
|
|
|
12 |
|
|
|
- |
|
|
|
- |
|
|
|
89 |
|
|
|
173 |
|
|
|
298 |
|
Provisions (credits) |
|
|
5 |
|
|
|
(146 |
) |
|
|
1,176 |
|
|
|
356 |
|
|
|
(1,747 |
) |
|
|
- |
|
|
|
(2 |
) |
|
|
82 |
|
|
|
94 |
|
|
|
(182 |
) |
Ending balance |
|
$ |
1,896 |
|
|
$ |
532 |
|
|
$ |
11,374 |
|
|
$ |
3,086 |
|
|
$ |
7,075 |
|
|
$ |
- |
|
|
$ |
3 |
|
|
$ |
710 |
|
|
$ |
2,244 |
|
|
$ |
26,920 |
|
Ending balance: related to loans
individually evaluated |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,223 |
|
|
$ |
2,940 |
|
|
$ |
6,287 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
237 |
|
|
$ |
- |
|
|
$ |
16,687 |
|
Ending balance: related to loans
collectively evaluated |
|
$ |
1,896 |
|
|
$ |
532 |
|
|
$ |
4,151 |
|
|
$ |
146 |
|
|
$ |
788 |
|
|
$ |
- |
|
|
$ |
3 |
|
|
$ |
473 |
|
|
$ |
2,244 |
|
|
$ |
10,233 |
|
Loans receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance, gross |
|
$ |
233,501 |
|
|
$ |
1,242 |
|
|
$ |
388,154 |
|
|
$ |
77,886 |
|
|
$ |
75,987 |
|
|
$ |
41 |
|
|
$ |
2,512 |
|
|
$ |
53,219 |
|
|
$ |
57,232 |
|
|
$ |
889,774 |
|
Ending balance: individually
evaluated |
|
$ |
819 |
|
|
$ |
- |
|
|
$ |
52,308 |
|
|
$ |
9,367 |
|
|
$ |
15,551 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
599 |
|
|
$ |
- |
|
|
$ |
78,644 |
|
Ending balance: collectively
evaluated |
|
$ |
232,682 |
|
|
$ |
1,242 |
|
|
$ |
335,846 |
|
|
$ |
68,519 |
|
|
$ |
60,436 |
|
|
$ |
41 |
|
|
$ |
2,512 |
|
|
$ |
52,620 |
|
|
$ |
57,232 |
|
|
$ |
811,130 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of and for the three months ended June 30, 2025 |
|
(In thousands) |
|
1-4 family first-lien residential mortgage |
|
|
Residential construction mortgage |
|
|
Commercial real estate |
|
|
Commercial lines of credit |
|
|
Other commercial and industrial |
|
|
Paycheck Protection Program |
|
|
Tax exempt |
|
|
Home equity & junior liens |
|
|
Other consumer |
|
|
Total |
|
Allowance for credit losses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Beginning Balance |
|
$ |
1,433 |
|
|
$ |
504 |
|
|
$ |
7,079 |
|
|
$ |
911 |
|
|
$ |
2,848 |
|
|
$ |
- |
|
|
$ |
2 |
|
|
$ |
694 |
|
|
$ |
3,936 |
|
|
$ |
17,407 |
|
Charge-offs |
|
|
(12 |
) |
|
|
- |
|
|
|
(868 |
) |
|
|
(195 |
) |
|
|
(1,243 |
) |
|
|
- |
|
|
|
- |
|
|
|
(25 |
) |
|
|
(501 |
) |
|
|
(2,844 |
) |
Recoveries |
|
|
1 |
|
|
|
- |
|
|
|
11 |
|
|
|
17 |
|
|
|
8 |
|
|
|
- |
|
|
|
- |
|
|
|
47 |
|
|
|
163 |
|
|
|
247 |
|
Provisions (credits) |
|
|
(80 |
) |
|
|
39 |
|
|
|
174 |
|
|
|
19 |
|
|
|
1,058 |
|
|
|
- |
|
|
|
1 |
|
|
|
(53 |
) |
|
|
15 |
|
|
|
1,173 |
|
Ending balance |
|
$ |
1,342 |
|
|
$ |
543 |
|
|
$ |
6,396 |
|
|
$ |
752 |
|
|
$ |
2,671 |
|
|
$ |
- |
|
|
$ |
3 |
|
|
$ |
663 |
|
|
$ |
3,613 |
|
|
$ |
15,983 |
|
Ending balance: related to loans
individually evaluated |
|
$ |
135 |
|
|
$ |
- |
|
|
$ |
810 |
|
|
$ |
71 |
|
|
$ |
1,098 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
180 |
|
|
$ |
- |
|
|
$ |
2,294 |
|
Ending balance: related to loans
collectively evaluated |
|
$ |
1,207 |
|
|
$ |
543 |
|
|
$ |
5,586 |
|
|
$ |
681 |
|
|
$ |
1,573 |
|
|
$ |
- |
|
|
$ |
3 |
|
|
$ |
483 |
|
|
$ |
3,613 |
|
|
$ |
13,689 |
|
Loans receivables: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Ending balance, gross |
|
$ |
240,833 |
|
|
$ |
3,520 |
|
|
$ |
381,575 |
|
|
$ |
75,487 |
|
|
$ |
85,578 |
|
|
$ |
85 |
|
|
$ |
6,349 |
|
|
$ |
49,339 |
|
|
$ |
68,439 |
|
|
$ |
911,205 |
|
Ending balance: individually
evaluated |
|
$ |
1,903 |
|
|
$ |
- |
|
|
$ |
5,160 |
|
|
$ |
974 |
|
|
$ |
3,567 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
529 |
|
|
$ |
- |
|
|
$ |
12,133 |
|
Ending balance: collectively
evaluated |
|
$ |
238,930 |
|
|
$ |
3,520 |
|
|
$ |
376,415 |
|
|
$ |
74,513 |
|
|
$ |
82,011 |
|
|
$ |
85 |
|
|
$ |
6,349 |
|
|
$ |
48,810 |
|
|
$ |
68,439 |
|
|
$ |
899,072 |
|
|
| Schedule of Allowance for Loan Losses on Basis of Calculation Methodology |
The allocation of the ACL summarized on the basis of the Company’s calculation methodology was as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of June 30, 2026 |
|
(In thousands) |
|
1-4 family first-lien residential mortgage |
|
|
Residential construction mortgage |
|
|
Commercial real estate |
|
|
Commercial lines of credit |
|
|
Other commercial and industrial |
|
|
Tax exempt |
|
|
Home equity and junior liens |
|
|
Other consumer |
|
|
Total |
|
Specifically reserved |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
7,223 |
|
|
$ |
2,940 |
|
|
$ |
6,287 |
|
|
$ |
- |
|
|
$ |
473 |
|
|
$ |
2,073 |
|
|
|
18,996 |
|
Historical loss rate |
|
|
2,148 |
|
|
|
581 |
|
|
|
4,884 |
|
|
|
173 |
|
|
|
927 |
|
|
|
3 |
|
|
|
275 |
|
|
|
173 |
|
|
|
9,164 |
|
Qualitative factors |
|
|
(252 |
) |
|
|
(49 |
) |
|
|
(733 |
) |
|
|
(27 |
) |
|
|
(139 |
) |
|
|
- |
|
|
|
(38 |
) |
|
|
(2 |
) |
|
|
(1,240 |
) |
Total |
|
$ |
1,896 |
|
|
$ |
532 |
|
|
$ |
11,374 |
|
|
$ |
3,086 |
|
|
$ |
7,075 |
|
|
$ |
3 |
|
|
$ |
710 |
|
|
$ |
2,244 |
|
|
$ |
26,920 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2025 |
|
(In thousands) |
|
1-4 family first-lien residential mortgage |
|
|
Residential construction mortgage |
|
|
Commercial real estate |
|
|
Commercial lines of credit |
|
|
Other commercial and industrial |
|
|
Tax exempt |
|
|
Home equity and junior liens |
|
|
Other consumer |
|
|
Total |
|
Specifically reserved |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
6,523 |
|
|
$ |
3,519 |
|
|
$ |
7,913 |
|
|
$ |
- |
|
|
$ |
394 |
|
|
$ |
2,583 |
|
|
$ |
20,932 |
|
Historical loss rate |
|
|
2,332 |
|
|
|
474 |
|
|
|
3,858 |
|
|
|
165 |
|
|
|
1,038 |
|
|
|
5 |
|
|
|
296 |
|
|
|
168 |
|
|
|
8,336 |
|
Qualitative factors |
|
|
(191 |
) |
|
|
- |
|
|
|
199 |
|
|
|
14 |
|
|
|
113 |
|
|
|
- |
|
|
|
15 |
|
|
|
18 |
|
|
|
168 |
|
Total |
|
$ |
2,141 |
|
|
$ |
474 |
|
|
$ |
10,580 |
|
|
$ |
3,698 |
|
|
$ |
9,064 |
|
|
$ |
5 |
|
|
$ |
705 |
|
|
$ |
2,769 |
|
|
$ |
29,436 |
|
|
| Schedule of Allowance for Credit Losses Amortized Cost |
The following table details the amortized cost of collateral dependent loans at June 30, 2026 and December 31, 2025:
|
|
|
|
|
|
|
|
|
(In thousands) |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Commercial and industrial |
|
$ |
24,918 |
|
|
$ |
34,182 |
|
Commercial real estate |
|
|
52,308 |
|
|
|
54,008 |
|
Residential (1-4 family) first mortgages |
|
|
819 |
|
|
|
613 |
|
Home equity loans and lines of credit |
|
|
599 |
|
|
|
599 |
|
Consumer loans |
|
|
- |
|
|
|
- |
|
Total loans |
|
$ |
78,644 |
|
|
$ |
89,402 |
|
|