Loans (Tables)

9 Months Ended

Sep. 30, 2026

The following table presents the carrying value of loans, segregated by class of loans:


(Dollars in thousands)	September 30, 2026	December 31, 2025
Commercial:


Commercial real estate (1)	$2,116,435	$2,183,985
Commercial & industrial (2)	661,617	564,082
Total commercial	2,778,052	2,748,067
Residential Real Estate:


Residential real estate (3)	2,030,656	2,050,399
Consumer:


Home equity	340,253	318,862
Other (4)	15,891	17,060
Total consumer	356,144	335,922
Total loans (5)	$5,164,852	$5,134,388

(1)CRE consists of commercial mortgages primarily secured by non-owner occupied income-producing property, as well as construction and development loans. Construction and development loans are made to businesses for land development or the on-site construction of industrial, commercial, or residential buildings.

(2)C&I consists of loans to businesses and individuals, a portion of which are fully or partially collateralized by owner occupied real estate.

(3)Residential real estate consists of mortgage and homeowner construction loans secured by one- to four-family residential properties. Also, includes negative basis adjustments associated with fair value hedges of $2.2 million and $335 thousand, respectively, at September 30, 2026 and December 31, 2025. See Note 6 for additional disclosure.

(4)Other consists of loans to individuals secured by general aviation aircraft and other personal installment loans.

(5)Includes net unamortized loan origination costs of $11.3 million and $11.0 million, respectively, at September 30, 2026 and December 31, 2025 and net unamortized premiums on loans purchased from and serviced by other financial institutions of $181 thousand and $198 thousand, respectively, at September 30, 2026 and December 31, 2025.

Past Due Loans

The following tables present an aging analysis of past due loans, segregated by class of loans:


(Dollars in thousands)		Days Past Due
September 30, 2026	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$2,101,747	$8,114	$—	$6,574	$14,688	$2,116,435
Commercial & industrial	661,124	4	—	489	493	661,617
Total commercial	2,762,871	8,118	—	7,063	15,181	2,778,052
Residential Real Estate:
Residential real estate	2,020,001	4,476	2,944	3,235	10,655	2,030,656
Consumer:
Home equity	338,251	1,006	60	936	2,002	340,253
Other	15,845	42	4	—	46	15,891
Total consumer	354,096	1,048	64	936	2,048	356,144
Total loans	$5,136,968	$13,642	$3,008	$11,234	$27,884	$5,164,852


(Dollars in thousands)		Days Past Due
December 31, 2025	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$2,183,337	$648	$—	$—	$648	$2,183,985
Commercial & industrial	564,075	7	—	—	7	564,082
Total commercial	2,747,412	655	—	—	655	2,748,067
Residential Real Estate:
Residential real estate	2,041,304	3,533	2,560	3,002	9,095	2,050,399
Consumer:
Home equity	317,255	1,095	166	346	1,607	318,862
Other	17,034	26	—	—	26	17,060
Total consumer	334,289	1,121	166	346	1,633	335,922
Total loans	$5,123,005	$5,309	$2,726	$3,348	$11,383	$5,134,388

Nonaccrual Loans

The following table is a summary of nonaccrual loans, segregated by class of loans:


(Dollars in thousands)	September 30, 2026			December 31, 2025
	Nonaccrual Loans			Nonaccrual Loans
	With an ACL	Without an ACL	Total	With an ACL	Without an ACL	Total
Commercial:
Commercial real estate	$12,605	$—	$12,605	$—	$—	$—
Commercial & industrial	127	362	489	—	—	—
Total commercial	12,732	362	13,094	—	—	—
Residential Real Estate:
Residential real estate	8,701	988	9,689	9,830	1,269	11,099
Consumer:
Home equity	1,726	27	1,753	1,824	—	1,824
Other	—	—	—	—	—	—
Total consumer	1,726	27	1,753	1,824	—	1,824
Total nonaccrual loans	$23,159	$1,377	$24,536	$11,654	$1,269	$12,923
Accruing loans 90 days or more past due			$—			$—

Summary of TLMs

The following table presents the carrying value at September 30, 2026, of TLMs made during the three months and nine months ended September 30, 2026, segregated by class of loans and type of concession granted:


(Dollars in thousands)
Three and nine months ended September 30, 2026	Combination (1)	Total	% of Loan Class (2)
Commercial:
Commercial real estate	$18,526	$18,526	1	%








Total	$18,526	$18,526	—	%

(1)Combination includes an interest rate reduction, maturity extension and other-than-insignificant payment delay.

(2)Percentage of TLMs to the total loans outstanding within the respective loan class.

The following tables present the carrying value at September 30, 2025 of TLMs made during the periods indicated, segregated by class of loans and type of concession granted:



(Dollars in thousands)
Three months ended September 30, 2025	Other-than-Insignificant Payment Delay	Total	% of Loan Class (1)
Commercial:
Commercial real estate	$5,412	$5,412	—	%


Residential Real Estate:
Residential real estate	$263	$263	—	%




Total	$5,675	$5,675	—	%

(1)Percentage of TLMs to the total loans outstanding within the respective loan class.



(Dollars in thousands)
Nine months ended September 30, 2025	Other-than-Insignificant Payment Delay	Total	% of Loan Class (1)
Commercial:
Commercial real estate	$5,412	$5,412	—	%


Residential Real Estate:
Residential real estate	1,684	1,684	—




Total	$7,096	$7,096	—	%

(1)Percentage of TLMs to the total loans outstanding within the respective loan class.

The following tables describe the financial effect of TLMs made during the periods indicated, segregated by class of loans:



Three and nine months ended September 30, 2026			Financial Effect
Combination - Interest Rate Reduction, Maturity Extension and Other-than-Insignificant Payment Delay:
Commercial real estate			Provided a weighted average interest rate reduction of 0.5%, maturity extension of 24 months, and a principal payment deferral for 36 months



Three months ended September 30, 2025			Financial Effect
Other-than-Insignificant Payment Delay:
Commercial real estate			Provided a weighted average payment delay of 6 months

Residential real estate			Provided a weighted average payment delay of 4 months



Nine months ended September 30, 2025			Financial Effect
Other-than-Insignificant Payment Delay:
Commercial real estate			Provided a weighted average payment delay of 6 months

Residential real estate			Provided a weighted average payment delay of 6 months

Aging of TLMs

Management closely monitors the performance of TLMs to understand the effectiveness of the modifications. As of the dates indicated, the following tables present an aging analysis of TLMs that have been modified in the past 12 months:



(Dollars in thousands)		Days Past Due
September 30, 2026	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$24,096	$—	$—	$—	$—	$24,096


Residential Real Estate:
Residential real estate	626	—	—	—	—	626




Total loans	$24,722	$—	$—	$—	$—	$24,722



(Dollars in thousands)		Days Past Due
September 30, 2025	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$5,412	$—	$—	$—	$—	$5,412
Commercial & industrial	5,000	—	—	—	—	5,000
Total commercial	10,412	—	—	—	—	10,412
Residential Real Estate:
Residential real estate	1,684	—	—	—	—	1,684




Total loans	$12,096	$—	$—	$—	$—	$12,096

Collateral Dependent Individually Analyzed Loans

The following table presents the carrying value of collateral dependent individually analyzed loans:


(Dollars in thousands)	September 30, 2026		December 31, 2025
	Carrying Value	Related Allowance	Carrying Value	Related Allowance
Commercial:
Commercial real estate (1)	$12,605	$4,419	$5,605	$—
Commercial & industrial (2)	489	126	—	—
Total commercial	13,094	4,545	5,605	—
Residential Real Estate:
Residential real estate (3)	761	—	1,903	—
Consumer:
Home equity (3)	27	—	—	—
Other	—	—	—	—
Total consumer	27	—	—	—
Total	$13,882	$4,545	$7,508	$—

(1) Secured by income-producing property.

(2) Secured by business assets.

(3) Secured by one- to four-family residential properties.

Credit Quality Indicators

The following table includes information on credit quality indicators and gross charge-offs for the Corporation’s loan portfolio, segregated by class of loans as of September 30, 2026:


(Dollars in thousands)	Term Loans Amortized Cost by Origination Year
	2026	2025	2024	2023	2022	Prior	Revolving Loans Amortized Cost	Revolving Loans Converted to Term Loans	Total
Commercial:
CRE:
Pass	$383,514	$330,129	$75,906	$197,442	$436,323	$622,056	$9,542	$905	$2,055,817
Special mention	3,726	28,436	—	11,982	3,869	—	—	—	48,013
Classified	—	6,574	—	—	—	6,031	—	—	12,605
Total CRE	387,240	365,139	75,906	209,424	440,192	628,087	9,542	905	2,116,435
Gross charge-offs	—	—	—	—	3,830	—	—	—	3,830

C&I:
Pass	133,384	95,857	37,628	50,811	115,332	156,371	70,694	279	660,356
Special mention	—	—	772	—	—	—	—	—	772
Classified	—	—	—	—	362	126	1	—	489
Total C&I	133,384	95,857	38,400	50,811	115,694	156,497	70,695	279	661,617





Gross charge-offs	41	—	—	—	—	—	—	—	41

Residential Real Estate:
Current (1)	145,947	155,659	44,572	291,209	640,650	744,174	—	—	2,022,211
Past due	—	—	—	766	3,654	6,235	—	—	10,655
Total residential real estate	145,947	155,659	44,572	291,975	644,304	750,409	—	—	2,032,866
Gross charge-offs	—	—	—	—	—	—	—	—	—

Consumer:
Home equity:
Current	18,676	14,239	8,106	12,428	8,423	9,166	252,705	14,508	338,251
Past due	—	—	72	58	240	339	515	778	2,002
Total home equity	18,676	14,239	8,178	12,486	8,663	9,505	253,220	15,286	340,253
Gross charge-offs	—	—	—	—	—	—	—	—	—

Other:
Current	2,318	3,610	1,910	2,776	1,455	3,520	256	—	15,845
Past due	29	15	—	—	—	2	—	—	46
Total other	2,347	3,625	1,910	2,776	1,455	3,522	256	—	15,891




Gross charge-offs	197	—	—	1	—	2	1	—	201

Loans, amortized cost	$687,594	$634,519	$168,966	$567,472	$1,210,308	$1,548,020	$333,713	$16,470	$5,167,062
Gross charge-offs	$238	$—	$—	$1	$3,830	$2	$1	$—	$4,072

(1)Excludes a $2.2 million negative basis adjustment associated with fair value hedges. See Note 6 for additional disclosure.

The following table includes information on credit quality indicators and gross charge-offs for the Corporation’s loan portfolio, segregated by class of loans as of December 31, 2025:


(Dollars in thousands)	Term Loans Amortized Cost by Origination Year
	2025	2024	2023	2022	2021	Prior	Revolving Loans Amortized Cost	Revolving Loans Converted to Term Loans	Total
Commercial:
CRE:
Pass	$432,404	$102,312	$338,922	$490,011	$302,383	$438,112	$9,426	$942	$2,114,512
Special mention	33,416	—	—	27,743	—	2,157	—	—	63,316
Classified	—	—	—	—	—	6,157	—	—	6,157
Total CRE	465,820	102,312	338,922	517,754	302,383	446,426	9,426	942	2,183,985
Gross charge-offs	—	—	—	—	—	5,715	—	—	5,715

C&I:
Pass	87,523	39,556	54,047	125,846	20,057	159,707	58,146	315	545,197
Special mention	3,569	788	—	3,442	1,095	3,865	6,000	—	18,759
Classified	—	—	—	—	126	—	—	—	126
Total C&I	91,092	40,344	54,047	129,288	21,278	163,572	64,146	315	564,082
Gross charge-offs	49	—	8,345	—	—	299	—	—	8,693






Residential Real Estate:
Current (1)	161,291	50,709	332,253	690,150	345,038	462,198	—	—	2,041,639
Past due	—	—	—	—	543	8,552	—	—	9,095
Total residential real estate	161,291	50,709	332,253	690,150	345,581	470,750	—	—	2,050,734
Gross charge-offs	—	—	—	—	—	—	—	—	—

Consumer:
Home equity:
Current	16,839	10,508	14,662	9,969	5,190	6,086	238,734	15,267	317,255
Past due	—	34	58	—	137	223	814	341	1,607
Total home equity	16,839	10,542	14,720	9,969	5,327	6,309	239,548	15,608	318,862
Gross charge-offs	—	—	—	—	—	—	—	—	—

Other:
Current	4,295	2,588	3,366	1,790	1,616	3,123	256	—	17,034
Past due	26	—	—	—	—	—	—	—	26
Total other	4,321	2,588	3,366	1,790	1,616	3,123	256	—	17,060
Gross charge-offs	323	—	1	—	—	3	—	—	327





Loans, amortized cost	$739,363	$206,495	$743,308	$1,348,951	$676,185	$1,090,180	$313,376	$16,865	$5,134,723
Gross charge-offs	$372	$—	$8,346	$—	$—	$6,017	$—	$—	$14,735

(1)Excludes a $335 thousand negative basis adjustment associated with fair value hedges. See Note 6 for additional disclosure.