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Loans Receivables and Allowance for Loan and Lease Losses (Tables)
 12 Months Ended
Dec. 31, 2022
Receivables [Abstract]  
Schedule of Loans Receivable
As of December 31, 2022 and 2021, loans receivable, net, consisted of the following:
December 31,
(In thousands)20222021
Loan portfolio segment:
Commercial Real Estate$437,443 $365,247 
Residential Real Estate124,140 158,591 
Commercial and Industrial138,787 122,810 
Consumer and Other141,091 59,364 
Construction4,922 21,781 
Construction to Permanent - CRE1,933 11,695 
Loans receivable, gross848,316 739,488 
Allowance for loan and lease losses(10,310)(9,905)
Loans receivable, net$838,006 $729,583 
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Accretable Yield Movement Schedule A summary of changes in the accretable discount for PCI loans for the year ended December 31, 2020 follows:
(In thousands)Year Ended December 31, 2020
Accretable discount, beginning of period$(47)
Accretion2 
Other changes, net45 
Accretable discount, end of period$— 
Allowance for Credit Loss
The following tables summarize the activity in the allowance for loan and lease losses, allocated to segments of the loan portfolio, for each year in the three-year period ended December 31, 2022:
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
Permanent
- CRE 		Unallocated Total
As of and for the year ended December 31, 2022
Allowance for loan and lease losses:
December 31, 2021$5,063 $1,700 $2,532 $253 $78 $41 $238 $9,905 
Charge-offs— — (70)(1,690)(68)— — (1,828)
Recoveries154 4 69 121 — — — 348 
Provisions (credits)1,749 (1,039)(1,128)2,523 14 (31)(203)1,885 
December 31, 2022$6,966 $665 $1,403 $1,207 $24 $10 $35 $10,310 
As of and for the year ended December 31, 2021
Allowance for loan and lease losses:
December 31, 2020$4,485 $1,379 $3,284 $295 $739 $162 $240 $10,584 
Charge-offs(51)(3)(212)(23)(69)— — (358)
Recoveries— 3 65 111 — — — 179 
Provisions (credits)629 321 (605)(130)(592)(121)(2)(500)
December 31, 2021$5,063 $1,700 $2,532 $253 $78 $41 $238 $9,905 
As of and for the year ended December 31, 2020
Allowance for loan and lease losses:
December 31, 2019$3,789 $1,038 $4,340 $341 $477 $130 $— $10,115 
Charge-offs(1,032)(24)(677)(45)— — — (1,778)
Recoveries— 1 70 6 — — — 77 
Provisions (credits)1,728 364 (449)(7)262 32 240 2,170 
December 31, 2020$4,485 $1,379 $3,284 $295 $739 $162 $240 $10,584 
The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for impairment as of December 31, 2022 and 2021:
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
 Permanent
 - CRE 		Unallocated Total
December 31, 2022
Allowance for loan and lease losses:
Individually evaluated for impairment$5,430 $5 $608 $— $— $— $— $6,043 
Collectively evaluated for impairment1,536 660 795 1,207 24 10 35 4,267 
Total allowance for loan and lease losses$6,966 $665 $1,403 $1,207 $24 $10 $35 $10,310 
Loans receivable, gross:
Individually evaluated for impairment$11,241 $2,508 $4,653 $514 $— $— $— $18,916 
Collectively evaluated for impairment426,202 121,632 134,134 140,577 4,922 1,933 — 829,400 
Total loans receivable, gross$437,443 $124,140 $138,787 $141,091 $4,922 $1,933 $— $848,316 
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
Permanent
- CRE 		Unallocated Total
December 31, 2021
Allowance for loan and lease losses:
Individually evaluated for impairment$1,567 $3 $722 $— $— $— $— $2,292 
Collectively evaluated for impairment3,496 1,697 1,810 253 78 41 238 7,613 
Total allowance for loan losses$5,063 $1,700 $2,532 $253 $78 $41 $238 $9,905 
Loans receivable, gross:
Individually evaluated for impairment$15,704 $2,954 $4,031 $523 $— $— $— $23,212 
Collectively evaluated for impairment349,543 155,637 118,779 58,841 21,781 11,695 — 716,276 
Total loans receivable, gross$365,247 $158,591 $122,810 $59,364 $21,781 $11,695 $— $739,488 
Financing Receivable, Past Due
The following tables summarize performing and non-performing (i.e., non-accruing) loans receivable by portfolio segment, by aging category, by delinquency status as of December 31, 2022.
(In thousands)Performing (Accruing) Loans
As of December 31, 2022:30 - 59
Days
Past Due 		60 - 89
Days
Past Due 		90 Days
or
Greater
Past Due 		Total
Past Due 		Current Total
Performing
Loans 		Non-
accruing
Loans 		Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$— $— $— $— $401,313 $401,313 $— $401,313 
Special mention— — — — 24,559 24,559 — 24,559 
Substandard330 — — 330 — 330 11,241 11,571 
330 — — 330 425,872 426,202 11,241 437,443 
Residential Real Estate:
Pass330 — — 330 120,715 121,045 — 121,045 
Special mention— — — — 625 625 — 625 
Substandard— — — — — — 2,470 2,470 
330 — — 330 121,340 121,670 2,470 124,140 
Commercial and Industrial:
Pass2 — 230 232 131,092 131,324 — 131,324 
Special mention— — — — 597 597 — 597 
Substandard1,488 412 — 1,900 133 2,033 4,833 6,866 
1,490 412 230 2,132 131,822 133,954 4,833 138,787 
Consumer and Other:
Pass929 3,175 925 5,029 135,990 141,019 — 141,019 
Substandard— — — — 23 23 49 72 
929 3,175 925 5,029 136,013 141,042 49 141,091 
Construction:
Pass895 — — 895 3,503 4,398 — 4,398 
Special mention— — — — 524 524 — 524 
895 — — — — — 895 — 4,027 — 4,922 — 4,922 
Construction to Permanent -CRE:
Pass— — — — 1,933 1,933 — 1,933 
— — — — 1,933 1,933 — 1,933 
Total$3,974 $3,587 $1,155 $8,716 $821,007 $829,723 $18,593 $848,316 
Loans receivable, gross:
Pass2,156 3,175 1,155 6,486 794,546 801,032 — 801,032 
Special mention— — — — 26,305 26,305 — 26,305 
Substandard1,818 412 — 2,230 156 2,386 18,593 20,979 
Loans receivable, gross$3,974 $3,587 $1,155 $8,716 $821,007 $829,723 $18,593 $848,316 
The following tables summarize performing and non-performing (i.e., non-accruing) loans receivable by portfolio segment, by aging category, by delinquency status as of December 31, 2021.
(In thousands)Performing (Accruing) Loans
As of December 31, 2021:30 - 59 Days
Past Due 		60 - 89 Days
Past Due 		90 Days
or
Greater Past
Due 		Total
Past Due 		Current Total
Performing
Loans 		Non-accruing
Loans 		Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$696 $— $— $696 $324,858 $325,554 $— $325,554 
Special mention— — — — 16,625 16,625 — 16,625 
Substandard— — — — 7,364 7,364 15,704 23,068 
696 — — 696 348,847 349,543 15,704 365,247 
Residential Real Estate:
Pass— — — — 154,044 154,044 — 154,044 
Special mention— — — — 1,399 1,399 — 1,399 
Substandard— — — — — — 3,148 3,148 
— — — — 155,443 155,443 3,148 158,591 
Commercial and Industrial:
Pass243 — — 243 114,306 114,549 — 114,549 
Special mention— — — — 1,951 1,951 — 1,951 
Substandard— — — — 2,209 2,209 4,101 6,310 
243 — — 243 118,466 118,709 4,101 122,810 
Consumer and Other:
Pass— 26 2 28 59,171 59,199 — 59,199 
Substandard— — — — 23 23 142 165 
— 26 2 28 59,194 59,222 142 59,364 
Construction:        
Pass— — — — 21,781 21,781 — 21,781 
— — — — 21,781 21,781 — 21,781 
Construction to Permanent - CRE:
Pass— — — — 11,695 11,695 — 11,695 
— — — — 11,695 11,695 — 11,695 
        
Total$939 $26 $2 $967 $715,426 $716,393 $23,095 $739,488 
Loans receivable, gross:
Pass$939 $26 $2 $967 $685,855 $686,822 $— $686,822 
Special mention— — — — 19,975 19,975 — 19,975 
Substandard— — — — 9,596 9,596 23,095 32,691 
Loans receivable, gross$939 $26 $2 $967 $715,426 $716,393 $23,095 $739,488 
Financing Receivable, Nonaccrual
The following tables summarize non-performing (i.e., non-accruing) loans by aging category and status, within the applicable loan portfolio segment as of December 31, 2022 and 2021:
(In thousands)Non-accruing Loans
30 - 59
Days
Past Due 		60 - 89
Days
Past Due 		90 Days or
Greater Past
Due 		Total
Past Due 		Current Total
Non-accruing
Loans
As of December 31, 2022:
Loan portfolio segment:
Commercial Real Estate:
Substandard$— $— $11,241 $11,241 $— $11,241 
Residential Real Estate:
Substandard657 — 1,796 2,453 17 2,470 
Commercial and Industrial:
Substandard46 395 3,196 3,637 1,196 4,833 
Consumer and Other:
Substandard— — 27 27 22 49 
Total non-accruing loans$703 $395 $16,260 $17,358 $1,235 $18,593 
As of December 31, 2021:
Loan portfolio segment:
Commercial Real Estate:
Substandard$— $— $15,704 $15,704 $— $15,704 
Residential Real Estate:
Substandard— — 2,419 2,419 729 3,148 
Commercial and Industrial:
Substandard— 491 2,458 2,949 1,152 4,101 
Consumer and Other:
Substandard— 94 28 122 20 142 
Total non-accruing loans$— $585 $20,609 $21,194 $1,901 $23,095 
Financing Receivable, Troubled Debt Restructuring
The following table summarizes the recorded investment in TDRs as of December 31, 2022 and 2021:
(In thousands)December 31, 2022December 31, 2021
Loan portfolio segment:Number of
Loans 		Recorded
Investment		Number of
Loans 		Recorded
Investment
Commercial Real Estate1$8,806 1$8,884 
Residential Real Estate3814 3870 
Consumer and Other2537 3640 
Total TDR Loans610,157 710,394 
Less:
TDRs included in non-accrual loans2(9,464)3(9,688)
Total accrual TDR Loans4$693 4$706 
The following loans were modified as TDR during the year ended December 31, 2020.
Outstanding Recorded Investment
(In thousands)Pre-ModificationPost-Modification
Year Ended December 31,202020202020
Loan portfolio segment:
Commercial Real Estate2$822 $819 
Commercial and Industrial14,000 4,000 
Consumer and Other3413 414 
Total TDR Loans6$5,235 $5,233 
The following table provides information on how loans were modified as TDRs during the year ended December 31, 2020.
(In thousands)Year Ended December 31,
2020
Rate reduction$4,819 
Extension of interest only period121 
Payment deferral293 
Total$5,233 
Impaired Financing Receivables
The following table reflects information about the impaired loans by class as of December 31, 2022 and 2021:
(In thousands)December 31, 2022December 31, 2021
Recorded
Investment 		Principal
Outstanding 		Related
Allowance 		Recorded
Investment 		Principal
Outstanding 		Related
Allowance
With no related allowance recorded:
Commercial Real Estate$2,435 $2,428 $— $6,820 $7,776 $— 
Residential Real Estate2,402 2,224 — 2,847 2,763 — 
Commercial and Industrial1,939 2,424 — 630 758 — 
Consumer and Other514 514 — 523 523 — 
7,290 7,590 — 10,820 11,820 — 
With a related allowance recorded:
Commercial Real Estate$8,806 $8,656 $5,430 $8,884 $8,811 $1,567 
Residential Real Estate223 221 6 461 488 8 
Commercial and Industrial2,895 3,052 609 3,471 3,916 723 
Consumer and Other73 74 — 166 201 1 
11,997 12,003 6,045 12,982 13,416 2,299 
Impaired Loans, Total:
Commercial Real Estate$11,241 $11,084 $5,430 $15,704 $16,587 $1,567 
Residential Real Estate2,625 2,445 6 3,308 3,251 8 
Commercial and Industrial4,834 5,476 609 4,101 4,674 723 
Consumer and Other587 588 — 689 724 1 
Impaired Loans, Total$19,287 $19,593 $6,045 $23,802 $25,236 $2,299 
For each year in the three-year period ended December 31, 2022, the average recorded investment in and interest income recognized on impaired loans without and with a related allowance, by loan portfolio segment, was as follows:
Year Ended December 31,
(In thousands)202220212020
Average
Recorded
Investment 		Interest
Income
Recognized 		Average
Recorded
Investment 		Interest
Income
Recognized 		Average
Recorded
Investment 		Interest
Income
Recognized
With no related allowance recorded:
Commercial Real Estate$6,621 $87 $7,636 $103 $5,859 $39 
Residential Real Estate3,452 34 4,014 51 3,681 28 
Commercial and Industrial565 63 2,548 12 2,111 79 
Consumer and Other342 23 702 16 1,132 47 
10,980 207 14,900 182 12,783 193 
With a related allowance recorded:
Commercial Real Estate$7,096 $113 $8,869 $66 $8,861 $35 
Residential Real Estate518 8 428 21 34 7 
Commercial and Industrial3,365 29 2,239 126 — — 
Consumer and Other342 4 106 7 39 — 
11,321 154 11,642 220 8,934 42 
Impaired Loans, Total:
Commercial Real Estate$13,717 $200 $16,505 $169 $14,720 $74 
Residential Real Estate3,970 42 4,442 72 3,715 35 
Commercial and Industrial3,930 92 4,787 138 2,111 79 
Consumer and Other684 27 808 23 1,171 47 
Impaired Loans, Total$22,301 $361 $26,542 $402 $21,717 $235