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Loans Receivables and Allowance for Credit Losses (Tables)
 12 Months Ended
Dec. 31, 2023
Credit Loss [Abstract]  
Schedule of Loans Receivable
As of December 31, 2023 and 2022, loans receivable, net, consisted of the following:
December 31,
(In thousands)20232022
Loan portfolio segment:
Commercial Real Estate$472,093 $437,443 
Residential Real Estate106,783 124,140 
Commercial and Industrial163,565 138,787 
Consumer and Other99,688 141,091 
Construction4,266 4,922 
Construction to Permanent - CRE2,464 1,933 
Loans receivable, gross848,859 848,316 
Allowance for credit losses(15,925)(10,310)
Loans receivable, net$832,934 $838,006 
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, 2023:
(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, 2023
Allowance for credit losses:
December 31, 2022$6,966 $665 $1,403 $1,207 $24 $10 $35 $10,310 
Impact of ASC 326 Adoption1,626 189 219 10,977 (4)29 (35)13,001 
Charge-offs(6,346)(515)(927)(10,479)(150)— — (18,417)
Recoveries— 14 34 1,080 — — — 1,128 
Provisions3,843 254 540 5,058 134 74 — 9,903 (1)
December 31, 2023$6,089 $607 $1,269 $7,843 $4 $113 $— $15,925 
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 
(Credits) provisions1,749 (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 
The allowance and provision for the year ended December 31, 2023 are not comparable to prior periods due to the adoption of CECL.
(1) The provision on credit losses included in the above table for the year ended December 31, 2023 does not include the credit on unfunded loan commitments of $(2.5) million for the year ended December 31, 2023.
Schedule of Individually Evaluated for Impairment
The following tables summarize, by loan portfolio segment, the amount of loans receivable evaluated individually and collectively for allowance for credit losses as of December 31, 2023:
(In thousands)Commercial
Real Estate 		Residential
Real Estate 		Commercial
and
Industrial 		Consumer
and
Other 		Construction Construction to
 Permanent
 - CRE 		Unallocated Total
December 31, 2023
Allowance for credit losses:
Individually evaluated loans$3,813 $— $392 $— $— $— $— $4,205 
Collectively evaluated loans2,276 607 877 7,843 4 113 — 11,720 
Total allowance for credit losses$6,089 $607 $1,269 $7,843 $4 $113 $— $15,925 
Loans receivable, gross:
Individually evaluated loans$12,775 $— $3,904 $— $454 $— $— $17,133 
Collectively evaluated loans459,318 106,783 159,661 99,688 3,812 2,464 — 831,726 
Total loans receivable, gross$472,093 $106,783 $163,565 $99,688 $4,266 $2,464 $— $848,859 

The following tables presents the balance in the allowance for loan and lease losses and the recorded investment in loans by portfolio segment based on impairment method as of December 31, 2022:
(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 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 
Financing Receivable Credit Quality Indicators
The following tables summarize loan amortized cost by vintage, credit quality indicator and class of loans based on year of origination:
Term of Loans by Origination
As of December 31, 2023:20232022202120202019PriorRevolvingTotal Loans
Receivable
Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$104,683 $138,091 $111,308 $3,401 $31,832 $63,526 $— $452,841 
Special mention— 6,482 — — — — — 6,482 
Substandard— 1,799 — 280 10,000 691 — 12,770 
104,683 146,372 111,308 3,681 41,832 64,217 — 472,093 
Residential Real Estate:
Pass— 1,251 2,975 11,577 15,770 74,596 614 106,783 
— 1,251 2,975 11,577 15,770 74,596 614 106,783 
Commercial and Industrial:
Pass2,696 13,916 23,099 8,004 9,578 7,024 96,431 160,748 
Special mention6 348 — — 37 11 104 506 
Substandard16 — 801 — 401 1,093 — 2,311 
2,718 14,264 23,900 8,004 10,016 8,128 96,535 163,565 
Consumer and Other:
Pass6,470 36,668 4,724 — 5,590 14,314 30,945 98,711 
Substandard197 645 61 — — — 74 977 
6,667 37,313 4,785 — 5,590 14,314 31,019 99,688 
Construction:
Pass— — 3,812 — — — — 3,812 
Substandard— — — — 454 — — 454 
— — 3,812 — 454 — — 4,266 
Construction to Permanent - CRE:
Special mention— — 2,464 — — — — 2,464 
— — 2,464 — — — — 2,464 
Total$114,068 $199,200 $149,244 $23,262 $73,662 $161,255 $128,168 $848,859 
Loans receivable, gross:
Pass113,849 189,926 145,918 22,982 62,770 159,460 127,990 822,895 
Special mention6 6,830 2,464 — 37 11 104 9,452 
Substandard213 2,444 862 280 10,855 1,784 74 16,512 
Loans receivable, gross$114,068 $199,200 $149,244 $23,262 $73,662 $161,255 $128,168 $848,859 
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, 2023.
(In thousands)Performing (Accruing) Loans
As of December 31, 2023:30 - 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$2,274 $231 $— $2,505 $448,707 $451,212 $1,629 $452,841 
Special mention— — — — 6,482 6,482 — 6,482 
Substandard— — — — 1,624 1,624 11,146 12,770 
2,274 231 — 2,505 456,813 459,318 12,775 472,093 
Residential Real Estate:
Pass1,439 — — 1,439 105,344 106,783 — 106,783 
1,439 — — 1,439 105,344 106,783 — 106,783 
Commercial and Industrial:
Pass420 10 — 430 157,335 157,765 2,983 160,748 
Special mention— 348 — 348 158 506 — 506 
Substandard526 — — 526 847 1,373 938 2,311 
946 358 — 1,304 158,340 159,644 3,921 163,565 
Consumer and Other:
Pass1,327 1,015 341 2,683 96,028 98,711 — 98,711 
Substandard— — — — — — 977 977 
1,327 1,015 341 2,683 96,028 98,711 977 99,688 
Construction:
Pass— — — — 3,812 3,812 — 3,812 
Substandard— — — — — — 454 454 
— — — — 3,812 3,812 454 4,266 
Construction to Permanent - CRE:
Special mention— — — — 2,464 2,464 — 2,464 
— — — — 2,464 2,464 — 2,464 
Total$5,986 $1,604 $341 $7,931 $822,801 $830,732 $18,127 $848,859 
Loans receivable, gross:
Pass5,460 1,256 341 7,057 811,226 818,283 4,612 822,895 
Special mention— 348 — 348 9,104 9,452 — 9,452 
Substandard526 — — 526 2,471 2,997 13,515 16,512 
Loans receivable, gross$5,986 $1,604 $341 $7,931 $822,801 $830,732 $18,127 $848,859 
The following tables summarize performing and non-performing (i.e., non-accruing) loans receivable by portfolio segment, by aging category, by delinquency status as of December 31, 2022.
(In thousands)Performing (Accruing) Loans
As of December 31, 2022:30 - 59 Days Past Due 60 - 89 Days Past Due 90 Days or Greater Past Due Total Past Due Current Total Performing Loans Non- accruing Loans Loans Receivable Gross
Loan portfolio segment:
Commercial Real Estate:
Pass$— $— $— $— $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:
Pass$2,156 $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 $848,316 
Financing Receivable, Nonaccrual
The following tables summarize non-performing (i.e., non-accruing) loans by aging category and status, within the applicable loan portfolio segment as of December 31, 2023 and 2022:
(In thousands)Non-accruing Loans
30 - 59
Days
Past Due 		60 - 89
Days
Past Due 		90 Days or
Greater Past
Due 		Total
Past Due 		Current Total
Non-accruing
Loans
As of December 31, 2023:
Loan portfolio segment:
Commercial Real Estate:
Pass$— $— $1,629 $1,629 $— $1,629 
Substandard— 770 439 1,209 9,937 11,146 
Commercial and Industrial:
Pass— — 2,054 2,054 929 2,983 
Substandard— 371 535 906 32 938 
Consumer and Other:
Substandard— 16 887 903 74 977 
Construction:
Substandard— — — — 454 454 
Total non-accruing loans$— $1,157 $5,544 $6,701 $11,426 $18,127 
As of December 31, 2022:
Loan portfolio segment:
Commercial Real Estate:
Substandard$— $— $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 
Impaired Financing Receivables
The following table reflects information about the individually evaluated loans by class as of December 31, 2023 and 2022:
(In thousands)December 31, 2023December 31, 2022
Recorded
Investment 		Principal
Outstanding 		Related
Allowance 		Recorded Investment Principal Outstanding Related Allowance
With no related allowance recorded:
Commercial Real Estate$2,838 $5,879 $— $2,435 $2,428 $— 
Residential Real Estate— — — 2,402 2,224 — 
Commercial and Industrial2,266 2,899 — 1,939 2,424 — 
Consumer and Other— — — 514 514 — 
Construction454 461 — — — — 
5,558 9,239 — 7,290 7,590 — 
With a related allowance recorded:
Commercial Real Estate$9,937 $10,137 $3,813 $8,806 $8,656 $5,430 
Residential Real Estate— — — 106 105 5 
Commercial and Industrial1,638 3,159 392 2,714 2,863 608 
11,575 13,296 4,205 11,626 11,624 6,043 
Individually evaluated loans, Total:
Commercial Real Estate$12,775 $16,016 $3,813 $11,241 $11,084 $5,430 
Residential Real Estate— — — 2,508 2,329 5 
Commercial and Industrial3,904 6,058 392 4,653 5,287 608 
Consumer and Other— — — 514 514 — 
Construction454 — 461 — — — — — — — 
Total$17,133 $22,535 $4,205 $18,916 $19,214 $6,043 
For each year in the three-year period ended December 31, 2023, 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)202320222021
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$1,164 $181 $5,702 $87 $7,636 $103 
Residential Real Estate534 — 2,925 35 4,014 51 
Commercial and Industrial2,580 5 748 63 2,548 12 
Consumer and Other158 — 464 23 702 16 
Construction753 34 — — — — 
5,189 220 9,839 208 14,900 182 
With a related allowance recorded:
Commercial Real Estate$12,957 $696 $8,307 $113 $8,869 $66 
Residential Real Estate1,156 — 107 6 109 5 
Commercial and Industrial3,359 214 3,348 28 2,234 126 
17,472 910 11,762 147 11,212 197 
Individually evaluated loans, Total:
Commercial Real Estate$14,121 $877 $14,009 $200 $16,505 $169 
Residential Real Estate1,690 — 3,032 41 4,123 56 
Commercial and Industrial5,939 219 4,096 91 4,782 138 
Consumer and Other158 — 464 23 702 16 
Construction753 34 — — 
Total$22,661 $1,130 $21,601 $355 $26,112 $379