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Loans
 12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Loans Loans
Loan Portfolio Classifications

Major classifications of loans at amortized cost at the periods indicated were as follows:
(Dollars in thousands)December 31, 2024December 31, 2023
Commercial real estate owner-occupied$704,634 $619,302 
Commercial real estate non owner-occupied1,563,201 1,445,435 
Commercial and industrial
479,821 430,749 
Commercial construction679,969 585,113 
Total commercial loans3,427,625 3,080,599 
Residential mortgages443,096 393,142 
Home equity103,858 85,375 
Consumer8,319 8,515 
Total retail loans555,273 487,032 
Total loans3,982,898 3,567,631 
Allowance for credit losses(63,498)(58,995)
Net loans$3,919,400 $3,508,636 

Net deferred loan origination fees, included in the amortized costs of loans reflected in the table above, amounted to $4.1 million at December 31, 2024 and $5.4 million at December 31, 2023.

Accrued interest receivable on loans amounted to $17.8 million and $16.1 million at December 31, 2024 and 2023, respectively, and was included in the "Accrued interest receivable" line item on the Company’s Consolidated Balance Sheets.

Commercial loans originated by other banks in which the Company is a participating institution are carried at the pro-rata share of ownership and amounted to $163.7 million at December 31, 2024 and $126.6 million at December 31, 2023. See also "Loans serviced for others" below for information related to commercial loans participated out to various other institutions.

Related Party Loans

As of December 31, 2024 and 2023, the outstanding loan balances to directors, officers, principal shareholders, and their associates were $35.4 million and $31.4 million, respectively. All loans to these related parties were current and accruing as of those dates. Unadvanced portions of lines of credit available to these individuals were $34.8 million and $35.7 million as of December 31, 2024 and 2023, respectively. During 2024, new loans and net increases in loan balances or lines of credit under existing commitments of $10.5 million were made and principal pay-downs of $7.4 million were received. During 2023, new loans and net increases in loan balances or lines of credit under existing commitments of $1.5 million were made and principal pay-downs of $19.7 million were received.

Loans serviced for others

At December 31, 2024 and 2023, the Company was servicing residential mortgage loans owned by investors amounting to $6.7 million and $7.7 million, respectively. Additionally, the Company was servicing commercial loans originated by the Company and participated out to various other institutions amounting to $77.4 million and $69.8 million at December 31, 2024 and 2023, respectively.
Loans serving as collateral

Loans designated as qualified collateral and pledged to the FHLB for borrowing capacity for the periods indicated are summarized below:
(Dollars in thousands)December 31, 2024December 31, 2023
Commercial real estate$423,494 $495,831 
Residential mortgages409,423 369,062 
Home equity33,418 35,540 
Total loans pledged to FHLB$866,335 $900,433 

Tax-Exempt Interest

Tax-exempt interest earned on qualified commercial loans was $2.2 million for the year ended December 31, 2024, $2.0 million for the year ended December 31, 2023 and $1.7 million for the year ended December 31, 2022. Average tax-exempt loan balances were $47.9 million and $47.0 million for the years ended December 31, 2024 and 2023, respectively.