Other Commitments and Contingencies (Tables)
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6 Months Ended |
Jun. 30, 2026 |
|---|
| Lessee Disclosure [Abstract] |
|
| Summary of Classification of ROU Assets and Lease Liabilities on Consolidated Balance Sheets |
The following table represents the classification of the Company’s ROU assets and lease liabilities on the consolidated balance sheets:
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|
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|
|
|
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(In thousands) |
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|
|
June 30, 2026 |
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|
December 31, 2025 |
|
Lease right-of-use assets: |
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|
|
|
|
|
|
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Operating leases |
|
Premises and equipment, net |
|
$ |
4,931 |
|
|
$ |
5,163 |
|
Finance leases |
|
Premises and equipment, net |
|
|
434 |
|
|
|
445 |
|
Total lease right-of-use assets |
|
|
|
$ |
5,365 |
|
|
$ |
5,608 |
|
|
|
|
|
|
|
|
|
|
Lease liabilities: |
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|
|
|
|
|
|
|
Operating leases |
|
Accrued expenses and other liabilities |
|
$ |
5,088 |
|
|
$ |
5,297 |
|
Finance leases |
|
Accrued expenses and other liabilities |
|
|
377 |
|
|
|
397 |
|
Total lease liabilities |
|
|
|
$ |
5,465 |
|
|
$ |
5,694 |
|
|
| Summary of Weighted-Average Remaining Lease Term and Discount Rate |
The following table presents the weighted average remaining lease term and the weighted average discount rate:
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June 30, 2026 |
|
|
December 31, 2025 |
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Weighted-average remaining lease term (in years) |
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|
|
|
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Operating leases |
|
|
9.50 |
|
|
|
10.01 |
|
Finance leases |
|
|
7.00 |
|
|
|
7.58 |
|
|
|
|
|
|
|
|
Weighted-average discount rate |
|
|
|
|
|
|
Operating leases liabilities |
|
|
6.46 |
% |
|
|
6.47 |
% |
Finance lease liabilities |
|
|
4.00 |
% |
|
|
4.00 |
% |
|
| Components of Lease Expense for Operating and Finance Leases |
The following table presents the components of lease expense for operating leases:
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Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(In thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Operating lease expense: |
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|
|
|
|
|
|
|
|
|
|
|
Operating lease cost |
|
$ |
199 |
|
|
$ |
199 |
|
|
$ |
398 |
|
|
$ |
401 |
|
Variable lease cost |
|
|
6 |
|
|
|
6 |
|
|
|
13 |
|
|
|
13 |
|
Total lease cost, net |
|
$ |
205 |
|
|
$ |
205 |
|
|
$ |
411 |
|
|
$ |
414 |
|
The following table presents the components of lease expense for finance leases:
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Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(In thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Finance lease expense: |
|
|
|
|
|
|
|
|
|
|
|
|
Amortization of right-of-use asset |
|
$ |
5 |
|
|
$ |
5 |
|
|
$ |
10 |
|
|
$ |
10 |
|
Interest on lease liabilities |
|
|
4 |
|
|
|
4 |
|
|
|
8 |
|
|
|
8 |
|
Total lease cost, net |
|
$ |
9 |
|
|
$ |
9 |
|
|
$ |
18 |
|
|
$ |
18 |
|
|
| Supplemental Cash Flow Information Related to Leases |
Supplemental cash flow information related to leases was as follows:
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|
Three Months Ended June 30, |
|
|
Six Months Ended June 30, |
|
(In thousands) |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
Cash paid for amounts included in the measurement of lease liabilities: |
|
|
|
|
|
|
|
|
|
|
|
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Operating cash flows from operating leases |
|
$ |
188 |
|
|
$ |
184 |
|
|
$ |
375 |
|
|
$ |
371 |
|
Operating cash flows from finance leases |
|
|
10 |
|
|
|
9 |
|
|
|
20 |
|
|
|
18 |
|
Financing cash flows from finance leases |
|
|
4 |
|
|
|
4 |
|
|
|
8 |
|
|
|
8 |
|
|
| Future Undiscounted Lease Payments |
Future undiscounted lease payments for operating leases with initial terms of one year or more as of June 30, 2026 are as follows:
|
|
|
|
|
|
|
|
|
(In thousands) |
|
Operating Leases |
|
|
Finance Leases |
|
2026 |
|
$ |
377 |
|
|
$ |
28 |
|
2027 |
|
|
765 |
|
|
|
57 |
|
2028 |
|
|
778 |
|
|
|
58 |
|
2029 |
|
|
765 |
|
|
|
60 |
|
2030 |
|
|
673 |
|
|
|
62 |
|
Thereafter |
|
|
3,363 |
|
|
|
169 |
|
Total undiscounted lease payments |
|
$ |
6,721 |
|
|
$ |
434 |
|
Less: imputed interest |
|
|
1,633 |
|
|
|
57 |
|
Net lease liabilities |
|
$ |
5,088 |
|
|
$ |
377 |
|
|
| Off-Balance-Sheet Financial Instruments Related to Credit Risk |
Off-balance-sheet financial instruments whose contract amounts represent credit risk include the following:
|
|
|
|
|
|
|
|
|
(In thousands) |
|
June 30, 2026 |
|
|
December 31, 2025 |
|
Unadvanced lines of credit |
|
$ |
297,880 |
|
|
$ |
258,739 |
|
Unadvanced construction loans |
|
|
40,106 |
|
|
|
27,799 |
|
Residential mortgage loan commitments |
|
|
4,092 |
|
|
|
3,976 |
|
Commercial and mortgage loan commitments |
|
|
49,560 |
|
|
|
51,947 |
|
Standby letters of credit |
|
|
3,971 |
|
|
|
4,726 |
|
Total |
|
$ |
395,609 |
|
|
$ |
347,187 |
|
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