Allowance for Credit Losses (Tables)

12 Months Ended

Dec. 31, 2024

Allowance for Credit Loss [Abstract]

Summary of Allowance for Credit Losses by Loan Segment

The following tables summarize the activity in the allowance for credit losses by loan segment for the year ended December 31, 2024.

	Beginning balance		Charge-offs			Recoveries		Allowance for Credit Losses on PCD Acquired Loans			Provision for credit losses			Ending balance
(In Thousands)	For the Year Ended December 31, 2024
Allowance for credit losses:
Agriculture and farmland	$	12	$	—		$	—	$	—		$	(1	)	$	11
Construction		959		—			4		—			(70	)		893
Commercial & industrial		2,940		(152	)		89		—			1,216			4,093
Commercial real estate
Multifamily		1,483		—			2		—			320			1,805
Owner occupied		6,572		(29	)		1		—			(933	)		5,611
Non-owner occupied		5,773		(54	)		11		2,300			1,315			9,345
Residential real estate
First liens		4,778		(4	)		26		—			(1,405	)		3,395
Second liens and lines of credit		1,072		(9	)		14		—			77			1,154
Municipal		79		—			—		—			(31	)		48
Consumer and other loans		99		(185	)		12		—			154			80
Total	$	23,767	$	(433	)	$	159	$	2,300		$	642		$	26,435
	Beginning balance		Impact of adopting ASC 326			Allowance for Credit Losses on PCD Acquired Loans		Charge-offs			Recoveries			Provision for credit losses			Ending balance
(In Thousands)	For the Year Ended December 31, 2023
Allowance for credit losses:
Agriculture and farmland	$	279	$	(190	)	$	—	$	—		$	—		$	(77	)	$	12
Construction		274		513			39		—			—			133			959
Commercial & industrial		583		283			303		(200	)		1			1,970			2,940
Commercial real estate
Multifamily		480		340			97		—			—			566			1,483
Owner occupied		635		760			1,816		—			—			3,361			6,572
Non-owner occupied		1,116		3,195			1,937		—			—			(475	)		5,773
Residential real estate
First liens		1,029		635			42		—			54			3,018			4,778
Second liens and lines of credit		218		140			64		—			61			589			1,072
Municipal		12		(2	)		—		—			—			69			79
Consumer and other loans		40		(19	)		5		—			—			73			99
Total	$	4,666	$	5,655		$	4,303	$	(200	)	$	116		$	9,227		$	23,767

Summary of Amortized Cost Basis of Nonaccrual Loans and Loans Past due Over 89 Days Still Accruing

The following table presents the amortized cost basis of nonaccrual loans and loans past due over 89 days still accruing by segments of the loan portfolio.

	As of December 31, 2024
(In Thousands)	Nonaccrual with No Allowance for Credit Loss		Nonaccrual with a related Allowance for Credit Loss		Total Nonaccrual		Loans 90 days or greater past due still accruing
Agriculture and farmland	$	—	$	—	$	—	$	—
Construction		9		—		9		157
Commercial & industrial		125		7		132		—
Commercial real estate
Multifamily		—		—		—		—
Owner occupied		6,171		3,581		9,752		—
Non-owner occupied		398		3,931		4,329		—
Residential real estate
First liens		1,975		—		1,975		289
Second liens and lines of credit		482		—		482		—
Municipal		—		—		—		—
Consumer and other loans		—		—		—		48
Total	$	9,160	$	7,519	$	16,679	$	494
	As of December 31, 2023
(In Thousands)	Nonaccrual with No Allowance for Credit Loss		Nonaccrual with a related Allowance for Credit Loss		Total Nonaccrual		Loans 90 days or greater past due still accruing
Agriculture and farmland	$	—	$	—	$	—	$	—
Construction		191		—		191		—
Commercial & industrial		53		8		61		58
Commercial real estate
Multifamily		—		—		—		—
Owner occupied		2,465		83		2,548		6
Non-owner occupied		948		281		1,229		—
Residential real estate
First liens		2,346		361		2,707		149
Second liens and lines of credit		294		—		294		—
Municipal		—		—		—		—
Consumer and other loans		7		—		7		—
Total	$	6,304	$	733	$	7,037	$	213

Summary by Class of Loans, Carrying Value of Collateral Dependent Nonaccrual Loans and Type of Collateral

The following table presents, by class of loans, the carrying value of collateral dependent nonaccrual loans and type of collateral as of December 31, 2024 and 2023.

	December 31, 2024
(In Thousands)	Real Estate		Business Assets		Other		Total
Agriculture and farmland loans	$	—	$	—	$	—	$	—
Construction		9		—		—		9
Commercial & industrial loans		—		132		—		132
Commercial real estate loans
Multifamily		—		—		—		—
Owner occupied		9,752		—		—		9,752
Non-owner occupied		4,329		—		—		4,329
Residential real estate loans
First liens		1,975		—		—		1,975
Second liens and lines of credit		482		—		—		482
Municipal		—		—		—		—
Consumer and other loans		—		—		—		—
Total	$	16,547	$	132	$	—	$	16,679
	December 31, 2023
(In Thousands)	Real Estate		Business Assets		Other		Total
Agriculture and farmland loans	$	—	$	—	$	—	$	—
Construction		191		—		—		191
Commercial & industrial loans		—		61		—		61
Commercial real estate loans
Multifamily		—		—		—		—
Owner occupied		2,548		—		—		2,548
Non-owner occupied		1,229		—		—		1,229
Residential real estate loans
First liens		2,707		—		—		2,707
Second liens and lines of credit		294		—		—		294
Municipal		—		—		—		—
Consumer and other loans		—		—		7		7
Total	$	6,969	$	61	$	7	$	7,037

Summary of Aging Analysis of the Recorded Investment of Past-Due Loans

The following table presents an aging analysis of the recorded investment of past due loans at December 31, 2024 and December 31, 2023.

	December 31, 2024
(In Thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total   Loans
Agriculture and farmland	$	23	$	—	$	—	$	23	$	67,718	$	67,741
Construction		197		—		166		363		152,256		152,619
Commercial & industrial		41		—		90		131		245,702		245,833
Commercial real estate
Multifamily		314		—		—		314		211,464		211,778
Owner occupied		334		660		8,768		9,762		467,980		477,742
Non-owner occupied		—		—		398		398		627,839		628,237
Residential real estate
First liens		686		317		1,220		2,223		371,246		373,469
Second liens and lines of credit		191		119		276		586		76,127		76,713
Consumer and other loans		7		1		48		56		17,030		17,086
Municipal		—		—		—		—		3,886		3,886
Total	$	1,793	$	1,097	$	10,966	$	13,856	$	2,241,248	$	2,255,104
	December 31, 2023
(In Thousands)	30-59 Days Past Due		60-89 Days Past Due		90 Days or Greater Past Due		Total Past Due		Current		Total   Loans
Agriculture and farmland	$	14	$	—	$	—	$	14	$	65,847	$	65,861
Construction		10		—		191		201		161,624		161,825
Commercial & industrial		46		1		118		165		232,247		232,412
Commercial real estate
Multifamily		—		—		—		—		176,843		176,843
Owner occupied		156		2,802		137		3,095		471,869		474,964
Non-owner occupied		—		86		1,239		1,325		550,156		551,481
Residential real estate
First liens		719		419		872		2,010		374,082		376,092
Second liens and lines of credit		279		128		97		504		66,144		66,648
Consumer and other loans		15		15		7		37		16,703		16,740
Municipal		—		—		—		—		5,244		5,244
Total	$	1,239	$	3,451	$	2,661	$	7,351	$	2,120,759	$	2,128,110

Summary of Classes of the Loan Portfolio Summarized by the Internal Risk Rating System

The following table presents the classes of the loan portfolio summarized by the internal risk rating system as of December 31, 2024.

	December 31, 2024
	Term Loans Amortized Cost Basis by Origination Year
(In Thousands)	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Agriculture and farmland
Pass	$	11,357	$	1,040	$	13,682	$	8,761	$	4,780	$	21,105	$	5,320	$	—	$	66,045
Special mention		—		10		—		51		—		1,387		248		—		1,696
Substandard or lower		—		—		—		—		—		—		—		—		—
Total Agriculture and farmland	$	11,357	$	1,050	$	13,682	$	8,812	$	4,780	$	22,492	$	5,568	$	—	$	67,741
Agriculture and farmland
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
Construction
Pass		38,681		54,929		17,645		18,952		1,226		8,567		12,422		—		152,422
Special mention				—		—		—		—		—		—		—		—
Substandard or lower		—		197		—		—		—		—		—		—		197
Total Construction		38,681		55,126		17,645		18,952		1,226		8,567		12,422		—		152,619
Construction
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
Commercial & industrial
Pass		36,194		23,645		18,632		18,880		10,145		8,154		115,655		—		231,305
Special mention		301		153		4,606		88		—		363		7,023		—		12,534
Substandard or lower		74		51		384		47		—		299		1,139		—		1,994
Total Commercial & industrial		36,569		23,849		23,622		19,015		10,145		8,816		123,817		—		245,833
Commercial & industrial
Current period gross charge-offs		—		—		—		—		20		7		125		—		152
Commercial real estate - Multifamily
Pass		34,006		11,064		84,497		49,859		19,451		11,232		685		—		210,794
Special mention		—		—		984		—		—		—		—		—		984
Substandard or lower		—		—		—		—		—		—		—		—		—
Total Commercial real estate - Multifamily		34,006		11,064		85,481		49,859		19,451		11,232		685		—		211,778
Commercial real estate - Multifamily
Current period gross charge-offs		—		—		—		—		—		—		—		—		—

	December 31, 2024
	Term Loans Amortized Cost Basis by Origination Year
(In Thousands)	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Commercial real estate - Owner occupied
Pass		52,566		56,674		101,351		83,703		48,003		99,600		15,120		—		457,017
Special mention		—		—		365		1,984		416		5,608		262		—		8,635
Substandard or lower		—		—		9,327		—		—		2,632		131		—		12,090
Total Commercial real estate - Owner occupied		52,566		56,674		111,043		85,687		48,419		107,840		15,513		—		477,742
Commercial real estate - Owner occupied
Current period gross charge-offs		—		—		—		—		23		6		—		—		29
Commercial real estate - Non-owner occupied
Pass		78,928		60,584		187,113		111,191		48,512		120,340		8,535		—		615,203
Special mention		744		—		—		1,536		3,352		3,073		—		—		8,705
Substandard or lower		—		—		—		3,931		—		324		74		—		4,329
Total Commercial real estate - Non-owner occupied		79,672		60,584		187,113		116,658		51,864		123,737		8,609		—		628,237
Commercial real estate - Non-owner occupied
Current period gross charge-offs		—		—		—		—		—		54		—		—		54
Municipal
Pass		71		356		—		350		939		2,088		82		—		3,886
Special mention		—		—		—		—		—		—		—		—		—
Substandard or lower		—		—		—		—		—		—		—		—		—
Total Municipal		71		356		—		350		939		2,088		82		—		3,886
Municipal
Current period gross charge-offs		—		—		—		—		—		—		—		—		—
Total
Pass	$	251,803	$	208,292	$	422,920	$	291,696	$	133,056	$	271,086	$	157,819	$	—	$	1,736,672
Special mention		1,045		163		5,955		3,659		3,768		10,431		7,533		—		32,554
Substandard or lower		74		248		9,711		3,978		—		3,255		1,344		—		18,610
Total	$	252,922	$	208,703	$	438,586	$	299,333	$	136,824	$	284,772	$	166,696	$	—	$	1,787,836

The following tables present the classes of the loan portfolio summarized by the internal risk rating system as of December 31, 2023.

	December 31, 2023
	Term Loans Amortized Cost Basis by Origination Year
(In Thousands)	2023		2022		2021		2020		2019		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Agriculture and farmland
Pass	$	1,466	$	14,372	$	9,613	$	5,147	$	2,319	$	22,627	$	5,114	$	29	$	60,687
Special mention	—		—			30	—			811		1,206		342	—			2,389
Substandard or lower		13	—			15		121	—			2,576		60	—			2,785
Total Agriculture and farmland	$	1,479	$	14,372	$	9,658	$	5,268	$	3,130	$	26,409	$	5,516	$	29	$	65,861
Agriculture and farmland
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Construction
Pass		55,462		45,206		30,593		2,932		6,161		5,446		14,424		1,317		161,541
Special mention	—		—		—		—		—		—			93	—			93
Substandard or lower	—		—		—			98	—		—		—			93		191
Total Construction		55,462		45,206		30,593		3,030		6,161		5,446		14,517		1,410		161,825
Construction
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Commercial & industrial
Pass		29,586		31,653		24,184		13,831		4,285		7,536		119,602		68		230,745
Special mention	—			113		139	—			15		4		1,071	—			1,342
Substandard or lower	—		—			47	—			194	—			43		41		325
Total Commercial & industrial		29,586		31,766		24,370		13,831		4,494		7,540		120,716		109	$	232,412
Commercial & industrial
Current period gross charge-offs	—		—		—		—		—		—			200	—			200
Commercial real estate - Multifamily
Pass		12,587		80,127		50,320		18,871		6,031		6,737		298	—			174,971
Special mention	—		—		—		—		—		—		—		—		—
Substandard or lower	—		—		—		—		—			1,872	—		—			1,872
Total Commercial real estate - Multifamily		12,587		80,127		50,320		18,871		6,031		8,609		298	—			176,843
Commercial real estate - Multifamily
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
	December 31, 2023
	Term Loans Amortized Cost Basis by Origination Year
(In Thousands)	2023		2022		2021		2020		2019		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Commercial real estate - Owner occupied
Pass		53,765		127,684		96,193		50,888		39,043		83,753		7,801		6		459,133
Special mention	—			377		3,125	—			6,318	—			429	—			10,249

Substandard or lower	—		—		—			626		2,408		2,391		157	—			5,582
Total Commercial real estate - Owner occupied		53,765		128,061		99,318		51,514		47,769		86,144		8,387		6		474,964
Commercial real estate - Owner occupied
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Commercial real estate - Non-owner occupied
Pass		58,210		173,415		118,081		56,025		59,792		78,465		6,177		86		550,251
Special mention	—		—			42	—		—		—		—		—			42
Substandard or lower	—		—			325	—			56		558		249	—			1,188
Total Commercial real estate - Non-owner occupied		58,210		173,415		118,448		56,025		59,848		79,023		6,426		86		551,481
Commercial real estate - Non-owner occupied
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Municipal
Pass		529	—			420		1,675	—			2,526		94	—			5,244
Special mention	—		—		—		—		—		—		—		—		—
Substandard or lower	—		—		—		—		—		—		—		—		—
Total - Municipal		529	—			420		1,675	—			2,526		94	—			5,244
Municipal
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Total
Pass	$	211,605	$	472,457	$	329,404	$	149,369	$	117,631	$	207,090	$	153,510	$	1,506	$	1,642,572
Special mention	—			490		3,336	—			7,144		1,210		1,935	—			14,115
Substandard or lower		13	—			387		845		2,658		7,397		509		134		11,943
Total	$	211,618	$	472,947	$	333,127	$	150,214	$	127,433	$	215,697	$	155,954	$	1,640	$	1,668,630

The following tables present the amortized cost of these loans based on payment activity, by origination year, as of December 31, 2024 and 2023.

	December 31, 2024
	Term Loans Amortized Cost Basis by Origination Year
(In Thousands)	2024		2023		2022		2021		2020		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Residential real estate - First liens
Performing	$	28,532	$	48,601	$	86,197	$	82,086	$	35,962	$	78,244	$	11,583	$	—	$	371,205
Nonperforming		—		—		—		219		29		2,016		—		—		2,264
Total Residential real estate - First liens	$	28,532	$	48,601	$	86,197	$	82,305	$	35,991	$	80,260	$	11,583	$	—	$	373,469
Residential real estate - First liens
Current period gross charge-offs		—		—		—		—		—		4		—		—		4
Residential real estate - Second liens and lines of credit
Performing		2,643		940		985		349		61		1,666		68,937		650		76,231
Nonperforming		—		—		—		—		—		294		188		—		482
Total Residential real estate - Second liens and lines of credit		2,643		940		985		349		61		1,960		69,125		650		76,713
Residential real estate - Second liens and lines of credit
Current period gross charge-offs		—		—		—		—		—		9		—		—		9
Consumer and other
Performing		2,610		4,433		1,863		113		52		67		7,900		—		17,038
Nonperforming		—		—		—		—		—		48		—		—		48
Total Consumer and other		2,610		4,433		1,863		113		52		115		7,900		—		17,086
Consumer and other
Current period gross charge-offs		—		6		4		6		1		18		150		—		185
Total
Performing	$	33,785	$	53,974	$	89,045	$	82,548	$	36,075	$	79,977	$	88,420	$	650	$	464,474
Nonperforming		—		—		—		219		29		2,358		188		—		2,794
Total	$	33,785	$	53,974	$	89,045	$	82,767	$	36,104	$	82,335	$	88,608	$	650	$	467,268

	December 31, 2023
	Term Loans Amortized Cost Basis by Origination Year
(In Thousands)	2023		2022		2021		2020		2019		Prior		Revolving loans amortized cost basis		Revolving loans converted to term		Total
Residential real estate - First liens
Performing	$	41,984	$	90,220	$	95,232	$	37,966	$	22,934	$	75,918	$	8,982	$	—	$	373,236
Nonperforming	—		—			33		101		208		2,514	—		—			2,856
Total Residential real estate - First liens	$	41,984	$	90,220	$	95,265	$	38,067	$	23,142	$	78,432	$	8,982	$	—	$	376,092
Residential real estate - First liens
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Residential real estate - Second liens and lines of credit
Performing		1,045		1,702		386		184		205		2,259		60,573	—			66,354
Nonperforming	—		—		—		—		—		—			294	—			294
Total Residential real estate - Second liens and lines of credit		1,045		1,702		386		184		205		2,259		60,867	—			66,648
Residential real estate - Second liens and lines of credit
Current period gross charge-offs	—		—		—		—		—		—		—		—		—
Consumer and other
Performing		5,007		437		213		150		73		85		10,768	—			16,733
Nonperforming	—		—		—		—		—		—			7	—			7
Total Consumer and other		5,007		437		213		150		73		85		10,775	—			16,740
Consumer and other
Current period gross charge-offs	—		—		—		—		—		—		1		—		1
Total
Performing	$	48,036	$	92,359	$	95,831	$	38,300	$	23,212	$	78,262	$	80,323	$	—	$	456,323
Nonperforming	—		—			33		101		208		2,514		301	—			3,157
Total	$	48,036	$	92,359	$	95,864	$	38,401	$	23,420	$	80,776	$	80,624	$	—	$	459,480

Schedule of Credit Deteriorated Loans

The Company has purchased loans for which there was, at acquisition, evidence of more than insignificant deterioration of credit quality since origination. The carrying amount of these loans is as follows.

(In Thousands)	2024
Purchase price of loans at acquisition	$	435,704
Allowance for credit losses at acquisition		6,603
Non-credit (discount) premium at acquisition		(16,981	)
Par value of acquired loans at acquisition	$	425,326