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Loans and Allowance for Credit Losses (Tables)
 9 Months Ended
Sep. 30, 2024
Receivables [Abstract]  
Schedule of financing receivables
The following table provides information about the principal classes of the loan portfolio at September 30, 2024 and December 31, 2023.
($ in thousands)September 30, 2024% of Total LoansDecember 31, 2023% of Total Loans
Construction$337,113 7.12 %$299,000 6.40 %
Residential real estate1,570,998 33.19 %1,490,438 32.10 %
Commercial real estate2,276,381 48.09 %2,286,154 49.30 %
Commercial225,083 4.75 %229,939 5.00 %
Consumer317,149 6.70 %328,896 7.10 %
Credit cards7,185 0.15 %6,583 0.10 %
Total loans 4,733,909 100.00 %4,641,010 100.00 %
Allowance for credit losses on loans(58,669)(57,351)
Total loans, net$4,675,240 $4,583,659 
Schedule of Non accrual Loans
The following table provides information on nonaccrual loans by loan class as of September 30, 2024 and December 31, 2023.
($ in thousands)Non-Accrual with no allowance for credit lossNon-Accrual with an allowance for credit lossTotal Non-Accrual Loans
September 30, 2024
Nonaccrual loans:
Construction$207 $— $207 
Residential real estate6,500 438 6,938 
Commercial real estate3,447 2,239 5,686 
Commercial 490 586 1,076 
Consumer295 463 758 
Credit cards— 179 179 
Total$10,939 $3,905 $14,844 
Interest income $174 $57 $231 
($ in thousands)Non-Accrual with no allowance for credit lossNon-Accrual with an allowance for credit lossTotal Non-Accrual Loans
December 31, 2023
Nonaccrual loans:
Construction$626 $— $626 
Residential real estate5,865 480 6,345 
Commercial real estate4,364 — 4,364 
Commercial176 368 544 
Consumer216 689 905 
Total$11,247 $1,537 $12,784 
Interest income$399 $53 $452 
($ in thousands)Non-Accrual Delinquent LoansNon-Accrual Current LoansTotal Non-Accrual Loans
September 30, 2024
Nonaccrual loans:
Construction$207 $— $207 
Residential real estate4,516 2,422 6,938 
Commercial real estate2,810 2,876 5,686 
Commercial58 1,018 1,076 
Consumer707 51 758 
Credit cards156 23 179 
Total$8,454 $6,390 $14,844 
($ in thousands)Non-Accrual Delinquent LoansNon-Accrual Current LoansTotal Non-Accrual Loans
December 31, 2023
Nonaccrual loans:
Construction$221 $405 $626 
Residential real estate4,137 2,208 6,345 
Commercial real estate1,215 3,149 4,364 
Commercial28 516 544 
Consumer903 2 905 
Total$6,504 $6,280 $12,784 
Schedule of financing receivable credit quality indicators
The following tables provides information on loan risk ratings as of September 30, 2024 and gross write-offs during the nine months ended September 30, 2024.
Term Loans by Origination YearRevolving LoansRevolving Converted to Term LoansTotal
($ in thousands)Prior20202021202220232024
September 30, 2024
Construction
Pass$33,471 $10,572 $24,666 $79,428 $90,132 $76,594 $20,283 $1,760 $336,906 
Substandard60 — — 147 — — — — 207 
Total$33,531 $10,572 $24,666 $79,575 $90,132 $76,594 $20,283 $1,760 $337,113 
Gross Charge-offs$— $— $(12)$— $— $— $— $— $(12)
Residential real estate
Pass$343,013 $101,078 $242,689 $402,062 $255,274 $82,959 $120,721 $14,124 $1,561,920 
Special Mention395 530 — — — — 163 — 1,088 
Substandard5,511 — 1,353 295 355 — 476 — 7,990 
Total$348,919 $101,608 $244,042 $402,357 $255,629 $82,959 $121,360 $14,124 $1,570,998 
Gross Charge-offs$(1)$— $— $— $— $— $— $— $(1)
Commercial real estate
Pass$800,556 $282,792 $407,056 $432,621 $213,652 $82,252 $34,021 $— $2,252,950 
Special Mention7,162 — 5,428 — — — 531 — 13,121 
Substandard7,227 — 3,055 — — — 28 — 10,310 
Total$814,945 $282,792 $415,539 $432,621 $213,652 $82,252 $34,580 $— $2,276,381 
Gross Charge-offs$— $— $— $— $— $— $— $— $— 
Commercial
Pass$27,330 $11,866 $43,586 $31,181 $30,278 $28,198 $48,252 $849 $221,540 
Special Mention120 — — — — — — 69 189 
Substandard593 — 9 1,324 524 — 553 351 3,354 
Total$28,043 $11,866 $43,595 $32,505 $30,802 $28,198 $48,805 $1,269 $225,083 
Gross Charge-offs$(45)$(11)$— $(56)$(65)$— $— $— $(177)
Consumer
Pass$889 $11,679 $64,634 $122,668 $68,778 $47,032 $711 $— $316,391 
Special Mention— — — — — — — — — 
Substandard2 3 97 555 101 — — — 758 
Total$891 $11,682 $64,731 $123,223 $68,879 $47,032 $711 $— $317,149 
Gross Charge-offs$(545)$(9)$(217)$(1,578)$(35)$— $(17)$— $(2,401)
Total
Pass$1,205,259 $417,987 $782,631 $1,067,960 $658,114 $317,035 $223,988 $16,733 $4,689,707 
Special Mention7,677 530 5,428 — — — 694 69 14,398 
Substandard13,393 3 4,514 2,321 980 — 1,057 351 22,619 
Total loans by risk category$1,226,329 $418,520 $792,573 $1,070,281 $659,094 $317,035 $225,739 $17,153 $4,726,724 
Total gross charge-offs$(591)$(20)$(229)$(1,634)$(100)$— $(17)$— $(2,591)
Term Loans by Origination YearRevolving LoansRevolving Converted to Term LoansTotal
($ in thousands)Prior20202021202220232024
September 30, 2024
Credit Cards
Performing$— $— $— $— $— $— $7,006 $— $7,006 
Non-Performing— — — — — — 179 — 179 
Total$— $— $— $— $— $— $7,185 $— $7,185 
Gross Charge-offs$— $— $— $— $— $— $(405)$— $(405)
Total loans evaluated by performing status$— $— $— $— $— $— $7,185 $— $7,185 
Total gross charge-offs$— $— $— $— $— $— $(405)$— $(405)
Total Recorded Investment$1,226,329 $418,520 $792,573 $1,070,281 $659,094 $317,035 $232,924 $17,153 $4,733,909 
Schedule of past due financing receivables
The following tables provides information on loan risk ratings as of December 31, 2023 and gross write-offs during twelve months ended December 31, 2023.
Term Loans by Origination YearRevolving
loans		Revolving
converted to
term loans		Total
($ in thousands)Prior20192020202120222023
December 31, 2023
Construction
Pass$23,450 $15,721 $14,773 $34,325 $101,426 $100,620 $8,056 $— $298,371 
Substandard199 — — 12 418 — — — 629 
Total$23,649 $15,721 $14,773 $34,337 $101,844 $100,620 $8,056 $— $299,000 
Gross Charge-offs$— $— $— $— $— $— $— $— $— 
Residential real estate
Pass$317,528 $54,387 $105,269 $251,269 $392,378 $239,914 $119,777 $874 $1,481,396 
Special Mention154 256 564 503 — — 192 — 1,669 
Substandard6,000 — — — — — 1,373 — 7,373 
Total$323,682 $54,643 $105,833 $251,772 $392,378 $239,914 $121,342 $874 $1,490,438 
Gross Charge-offs$— $— $— $— $— $— $(119)$— $(119)
Commercial real estate
Pass$670,042 $190,753 $311,980 $426,750 $428,240 $210,915 $14,873 $2,138 $2,255,691 
Special Mention14,986 331 — 5,501 4,446 — 100 409 25,773 
Substandard2,119 2,029 — 542 — — — — 4,690 
Total$687,147 $193,113 $311,980 $432,793 $432,686 $210,915 $14,973 $2,547 $2,286,154 
Gross Charge-offs$(512)$— $(814)$— $— $— $— $— $(1,326)
Commercial
Pass$23,771 $12,946 $14,464 $41,621 $35,897 $27,901 $49,160 $22,284 $228,044 
Special Mention143 — — 425 — — 251 — 819 
Substandard160 69 — — 487 — 314 46 1,076 
Total$24,074 $13,015 $14,464 $42,046 $36,384 $27,901 $49,725 $22,330 $229,939 
Gross Charge-offs$(1)$— $— $— $— $— $(242)$(243)
Consumer
Pass$621 $961 $14,158 $76,629 $143,507 $91,415 $699 $— $327,990 
Special Mention— — — — — — 2 — 2 
Substandard— 38 5 80 780 — 1 — 904 
Total$621 $999 $14,163 $76,709 $144,287 $91,415 $702 $— $328,896 
Gross Charge-offs$(522)$— $(16)$(17)$(8)$(4)$(7)$— $(574)
Total
Pass$1,035,412 $274,768 $460,644 $830,594 $1,101,448 $670,765 $192,565 $25,296 $4,591,492 
Special Mention15,283 $587 $564 $6,429 $4,446 $— $545 $409 28,263 
Substandard8,478 2,136 5 634 1,685 — 1,688 46 14,672 
Total loans by risk
category		$1,059,173 $277,491 $461,213 $837,657 $1,107,579 $670,765 $194,798 $25,751 $4,634,427 
Total gross
charge-offs		$(1,035)$— $(830)$(17)$(8)$(4)$(126)$(242)$(2,262)
Credit Cards
Performing$— $— $— $— $— $— $6,583 $— $6,583 
Non-Performing— — — — — — — — — 
Total$— $— $— $— $— $— $6,583 $— $6,583 
Gross Charge-offs$— $— $— $— $— $— $(111)$— $(111)
Total loans evaluated
by performing status		$— $— $— $— $— $— $6,583 $— $6,583 
Total gross charge-offs$— $— $— $— $— $— $(111)$— $(111)
Total Recorded
Investment		$1,059,173 $277,491 $461,213 $837,657 $1,107,579 $670,765 $201,381 $25,751 $4,641,010 
The following tables provide information on the aging of the loan portfolio as of September 30, 2024 and December 31, 2023.
Accruing
($ in thousands)30‑59 days past due60‑89 days past due90 days past due and still accruing30-89 days past due and not accruing90 days past due and not accruingTotal past due
Current Accrual Loans (1)
Current Non-Accrual LoansTotal
September 30, 2024
Construction$410 $— $— $— $207 $617 $336,496 $— $337,113 
Residential real estate956 389 205 2,377 2,139 6,066 1,562,510 2,422 1,570,998 
Commercial real estate95 4,443 — 2,239 571 7,348 2,266,157 2,876 2,276,381 
Commercial56 1 6 — 58 121 223,944 1,018 225,083 
Consumer1,558 896 9 439 268 3,170 313,928 51 317,149 
Credit Cards61 98 234 30 126 549 6,613 23 7,185 
Total$3,136 $5,827 $454 $5,085 $3,369 $17,871 $4,709,648 $6,390 $4,733,909 
Percent of total loans0.07 %0.12 %0.01 %0.11 %0.07 %0.38 %99.49 %0.13 %100.0 %
____________________________________
(1)Includes loans measured at fair value of $10.0 million at September 30, 2024.
Accruing
($ in thousands)30‑59 days past due60‑89 days past due90 days past due and still accruing30-89 days past due and not accruing90 days past due and not accruingTotal past due
Current Accrual Loans (1)
Current Non-Accrual LoansTotal
December 31, 2023
Construction$1,919 $— $— $— $221 $2,140 $296,455 $405 $299,000 
Residential real estate2,420 271 108 1,469 2,668 6,936 1,481,294 2,208 1,490,438 
Commercial real estate16 — — — 1,215 1,231 2,281,774 3,149 2,286,154 
Commercial48 — 488 — 28 564 228,859 516 229,939 
Consumer3,224 1,391 — 24 879 5,518 323,376 2 328,896 
Credit cards35 36 142 — — 213 6,370 — 6,583 
Total$7,662 $1,698 $738 $1,493 $5,011 $16,602 $4,618,128 $6,280 $4,641,010 
Percent of total loans0.17 %0.04 %0.02 %0.03 %0.11 %0.36 %99.50 %0.14 %100.00 %
____________________________________
(1)Includes loans measured at fair value of $9.9 million at December 31, 2023.
Schedule of consolidated allowance for credit losses on financing receivables
The following tables provide a summary of the activity in the ACL allocated by loan class for the three and nine months ended September 30, 2024 and September 30, 2023. Allocation of a portion of the allowance to one loan class does not preclude its availability to absorb losses in other loan classes.
($ in thousands)Beginning BalanceCharge-offsRecoveriesNet (charge-offs) recoveriesProvisionsEnding Balance
For three months ended September 30, 2024
Construction$3,471 $— $1 $1 $(578)$2,894 
Residential real estate22,060 — 1 1 1,468 23,529 
Commercial real estate21,424 — — — (147)21,277 
Commercial2,866 (154)1 (153)512 3,225 
Consumer (1)
8,145 (1,015)88 (927)36 7,254 
Credit Card512 (210)— (210)188 490 
Total$58,478 $(1,379)$91 $(1,288)$1,479 $58,669 
____________________________________
(1)Gross charge-offs of consumer loans for the three months ended September 30, 2024 included $156 thousand of demand deposit overdrafts.
($ in thousands)Beginning Balance
Merger Adjustments (2)
Charge-offsRecoveriesNet (charge-offs) recoveriesProvisionsEnding Balance
For Three Months Ended September 30, 2023
Construction$2,386 $3 $— $3 $3 $1,439 $3,831 
Residential real estate9,151 215 — 3 3 9,806 19,175 
Commercial real estate10,267 985 (1,327)— (1,327)12,875 22,800 
Commercial1,956 278 — 2 2 2,101 4,337 
Consumer (1)
5,254 14 (115)45 (70)1,658 6,856 
Credit Card— 18 (60)— (60)94 52 
Total$29,014 $1,513 $(1,502)$53 $(1,449)$27,973 $57,051 
____________________________________
(1)Gross charge-offs of consumer loans for the three months ended September 30, 2023 included $1.5 million of demand deposit overdrafts.
(2)Merger adjustments consist of gross-up for acquired PCD loans in the TCFC merger.
($ in thousands)Beginning
Balance		Charge-
offs		RecoveriesNet (charge-offs)
recoveries		ProvisionsEnding
Balance
For Nine Months Ended September 30, 2024
Construction$3,935 $(12)$7 $(5)$(1,036)$2,894 
Residential real estate21,949 (1)5 4 1,576 23,529 
Commercial real estate20,975 — — — 302 21,277 
Commercial2,671 (177)4 (173)727 3,225 
Consumer (1)
7,601 (2,401)232 (2,169)1,822 7,254 
Credit Card220 (405)9 (396)666 490 
Total$57,351 $(2,996)$257 $(2,739)$4,057 $58,669 
____________________________________
(1)Gross charge-offs of consumer loans for the nine months ended September 30, 2024 included $512 thousands of demand deposit overdrafts.
($ in thousands)Beginning BalanceImpact of ASC 326 Adoption
Merger Adjustments (2)
Charge-offsRecoveriesNet (charge-offs) recoveriesProvisionsEnding Balance
For Nine Months Ended September 30, 2023
Construction$2,973 $1,222 $3 $— 10$10 $(377)$3,831 
Residential real estate2,622 4,974 215 — 3737 11,327 19,175 
Commercial real estate4,899 3,742 985 (1,327)— (1,327)14,501 22,800 
Commercial1,652 401 278 — 1010 1,996 4,337 
Consumer (1)
4,497 452 14 (399)210(189)2,082 6,856 
Credit Card— — 18 (60)— (60)94 52 
Total$16,643 $10,791 $1,513 $(1,786)$267 $(1,519)$29,623 $57,051 
____________________________________
(1)Gross charge-offs of consumer loans for the nine months ended September 30, 2023 included $1.8 million of demand deposit overdrafts.
(2)Merger adjustments consist of gross-up for acquired PCD loans in the TCFC merger.
Schedule of collateral-dependent loans
The following table presents the amortized cost basis of collateral-dependent loans by loan portfolio segment.
September 30, 2024
($ in thousands)Real Estate CollateralOther CollateralTotal
Construction$207 $— $207 
Residential real estate19,600 — 19,600 
Commercial real estate11,905 — 11,905 
Commercial— 3,160 3,160 
Consumer— 756 756 
Total$31,712 $3,916 $35,628 
December 31, 2023
($ in thousands)Real Estate CollateralOther CollateralTotal
Construction$662 $— $662 
Residential real estate8,047 — 8,047 
Commercial real estate6,134 — 6,134 
Commercial— 1,106 1,106 
Consumer— 904 904 
Total$14,843 $2,010 $16,853