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Loans
 9 Months Ended
Sep. 30, 2023
Receivables [Abstract]  
Loans Loans
We estimate the ACL based on relevant available information from both internal and external sources, including historical loss trends, current conditions and forecasts, specific analysis of individual loans, and other relevant and appropriate factors. The allowance process is designed to provide for expected future losses based on our reasonable and supportable (“R&S”) forecast as of the reporting date. Our ACL process is administered by our Risk Management group utilizing a third party software solution, with significant input and ultimate approval from our Executive Enterprise Risk Committee. Further, we have established a CECL Forecast Committee, which includes a cross discipline structure with membership from Executive Management, Risk Management, and Accounting, which approves ACL model assumptions each quarter. Our ACL is comprised of three principal elements: (i) specific analysis of individual loans identified during the review of the loan portfolio, (ii) pooled analysis of loans with similar risk characteristics based on historical experience, adjusted for current conditions, R&S forecasts, and expected prepayments, and (iii) additional allowances based on subjective factors, including local and general economic business factors and trends, portfolio concentrations and changes in the size and/or the general terms of the loan portfolio.
The first ACL element (specific allocations) includes loans that do not share similar risk characteristics and are evaluated on an individual basis. We will typically evaluate on an individual basis loans that are on nonaccrual; commercial loans that have been modified resulting in a concession, for which the borrower is experiencing financial difficulties, and which are considered troubled loan modifications; and severely delinquent mortgage and installment loans. When we determine that foreclosure is probable or when repayment is expected to be provided substantially through the operation or sale of underlying collateral, expected credit losses are based on the fair value of the collateral at the reporting date, adjusted for estimated selling costs. For loans evaluated on an individual basis that are not determined to be collateral dependent, a discounted cash flow analysis is performed to determine expected credit losses.
The second ACL element (pooled analysis) includes loans with similar risk characteristics, which are broken down by segment, class, and risk metric. The Bank’s primary segments of commercial, mortgage, and installment loans are further classified by other relevant attributes, such as collateral type, lien position, occupancy status, amortization method, and balance size. Commercial classes are additionally segmented by risk rating, and mortgage and installment loan classes by credit score tier, which are updated at least semi-annually.
We utilize a discounted cash flow (“DCF”) model to estimate expected future losses for pooled loans. Expected future cash flows are developed from payment schedules over the contractual term, adjusted for forecasted default (probability of default), loss, and prepayment assumptions. We are not required to develop forecasts over the full contractual term of the financial asset or group of financial assets. Rather, for periods beyond which we are able to make or obtain R&S forecasts of expected credit losses, we revert to the long term average on a straight line or immediate basis, as determined by our CECL Forecast Committee, and which may vary depending on the economic outlook and uncertainty.
The DCF model for the mortgage and installment pooled loan segments includes using probability of default (“PD”) assumptions that are derived through regression analysis with forecasted US unemployment levels by credit score tier. We review a composite forecast of approximately 50 analysts as well as the Federal Open Market Committee (“FOMC”) projections in setting the unemployment forecast for the R&S period. The current ACL utilizes a one year R&S forecast followed by immediate reversion to the 30 year average unemployment rate. PD assumptions for the remaining segments are based primarily on historical rates by risk metric as defaults were not strongly correlated with any economic indicator. Loss given default (“LGD”) assumptions for the mortgage loan segment are based on a two year forecast followed by a two year straight line reversion period to the longer term average, while LGD rates for the remaining segments are the historical average for the entire period. Prepayment assumptions represent average rates per segment for a period determined by the CECL Forecast Committee and as calculated through the Bank’s Asset and Liability Management program.
Pooled reserves for the commercial loan segment are calculated using the DCF model with assumptions generally based on historical averages by class and risk rating. Effective risk rating practices allow for strong predictability of defaults and losses over the portfolio’s expected shorter duration, relative to mortgage and installment loans. Our rating system is similar to those employed by state and federal banking regulators.
The third ACL element (additional allocations based on subjective factors) is based on factors that cannot be associated with a specific credit or loan category and reflects our attempt to ensure that the overall ACL appropriately reflects a margin for the imprecision necessarily inherent in the estimates of expected credit losses. We adjust our quantitative model for certain qualitative factors to reflect the extent to which management expects current conditions and R&S forecasts to differ from the conditions that existed for the period over which historical information was evaluated. The qualitative framework reflects changes related to relevant data, such as changes in asset quality trends, portfolio growth and
composition, national and local economic factors, credit policy and administration and other factors not considered in the base quantitative model. We utilize a survey completed by business unit management throughout the Bank, as well as discussion with the CECL Forecast Committee to establish reserves under the qualitative framework.
An analysis of the allowance for credit losses by portfolio segment for the three months ended September 30, follows:
Commercial Mortgage Installment Subjective
Allocation 		Total
(In thousands)
2023
Balance at beginning of period$16,284 $20,080 $4,315 $13,285 $53,964 
Additions (deductions)   
Provision for credit losses1,112 (170)(42)455 1,355 
Recoveries credited to the allowance178 112 467 — 757 
Loans charged against the allowance(24)— (557)— (581)
Balance at end of period$17,550 $20,022 $4,183 $13,740 $55,495 
2022
Balance at beginning of period$11,059 $20,313 $4,220 $12,291 $47,883 
Additions (deductions)  
Provision for credit losses1,184 1,219 263 469 3,135 
Recoveries credited to the allowance202 78 450 — 730 
Loans charged against the allowance— — (606)— (606)
Balance at end of period$12,445 $21,610 $4,327 $12,760 $51,142 
An analysis of the ACL by portfolio segment for the nine months ended September 30, follows:
Commercial Mortgage Installment Subjective
Allocation 		Total
(In thousands)
2023
Balance at beginning of period$13,817 $21,633 $4,290 $12,695 $52,435 
Additions (deductions)    
Provision for credit losses4,350 (1,835)280 1,045 3,840 
Recoveries credited to the allowance436 255 1,391 — 2,082 
Loans charged against the allowance(1,053)(31)(1,778)— (2,862)
Balance at end of period$17,550 $20,022 $4,183 $13,740 $55,495 
    
2022    
Balance at beginning of period$11,519 $19,221 $3,749 $12,763 $47,252 
Additions (deductions)    
Provision for credit losses496 2,087 1,203 (3)3,783 
Recoveries credited to the allowance430 346 1,228 — 2,004 
Loans charged against the allowance— (44)(1,853)— (1,897)
Balance at end of period$12,445 $21,610 $4,327 $12,760 $51,142 
Loans on non-accrual status and past due more than 90 days (“Non-performing Loans”) follow:
Non-
Accrual
with no
Allowance
for Credit
Loss		Non-
Accrual
with an
Allowance
for Credit
Loss		Total
Non-
Accrual		90+ and
Still
Accruing		Total Non-
Performing
Loans
(In thousands)
September 30, 2023
Commercial
Commercial and industrial (1)$— $8 $8 $— $8 
Commercial real estate— — — — — 
Mortgage
1-4 family owner occupied - jumbo— — — — — 
1-4 family owner occupied - non-jumbo (2)1,061 1,531 2,592 — 2,592 
1-4 family non-owner occupied— 498 498 — 498 
1-4 family - 2nd lien— 545 545 — 545 
Resort lending— 271 271 — 271 
Installment
Boat lending— 264 264 — 264 
Recreational vehicle lending— 307 307 — 307 
Other— 230 230 — 230 
Total
$1,061 $3,654 $4,715 $— $4,715 
Accrued interest excluded from total$— $— $— $— $— 
December 31, 2022
Commercial
Commercial and industrial (1)$— $9 $9 $— $9 
Commercial real estate— — — — — 
Mortgage
1-4 family owner occupied - jumbo— — — — — 
1-4 family owner occupied - non-jumbo (2)1,077 852 1,929 — 1,929 
1-4 family non-owner occupied152 323 475 — 475 
1-4 family - 2nd lien— 562 562 — 562 
Resort lending110 38 148 — 148 
Installment
Boat lending— 380 380 — 380 
Recreational vehicle lending— 30 30 — 30 
Other— 188 188 — 188 
Total$1,339 $2,382 $3,721 $— $3,721 
Accrued interest excluded from total$— $— $— $— $— 
(1)Non-performing commercial and industrial loans exclude $0.023 million and $0.029 million of government guaranteed loans at September 30, 2023 and December 31, 2022, respectively.
(2)Non-performing 1-4 family owner occupied – non jumbo loans exclude $2.231 million and $1.631 million of government guaranteed loans at September 30, 2023 and December 31, 2022, respectively.
The following table provides collateral information by class of loan for collateral-dependent loans with a specific reserve. A loan is considered to be collateral dependent when the borrower is experiencing financial difficulty and the repayment is expected to be provided substantially through the operation or sale of collateral.
The amortized cost of collateral-dependent loans by class follows:
Collateral TypeAllowance
for
Credit Losses
Real
Estate		Other
(In thousands)
September 30, 2023
Commercial
Commercial and industrial$1,728 $2,994 $1,588 
Commercial real estate2,068 — — 
Mortgage   
1-4 family owner occupied - jumbo— — — 
1-4 family owner occupied - non-jumbo2,228 — 271 
1-4 family non-owner occupied159 — 159 
1-4 family - 2nd lien366 — 165 
Resort lending271 — 211 
Installment
Boat lending— 207 73 
Recreational vehicle lending— 235 83 
Other— 89 32 
Total$6,820 $3,525 $2,582 
Accrued interest excluded from total$14 $13  
December 31, 2022
Commercial
Commercial and industrial$748 $1,309 $197 
Commercial real estate7,329 — 1,243 
Mortgage
1-4 family owner occupied - jumbo— — — 
1-4 family owner occupied - non-jumbo1,721 — 229 
1-4 family non-owner occupied233 — 29 
1-4 family - 2nd lien368 — 203 
Resort lending148 — 14 
Installment
Boat lending— 297 101 
Recreational vehicle lending— 30 11 
Other6 128 47 
Total$10,553 $1,764 $2,074 
Accrued interest excluded from total$40 $6  
An aging analysis of loans by class follows:
Loans Past DueLoans not
Past Due		Total
Loans
30-59 days60-89 days90+ daysTotal
(In thousands)
September 30, 2023
Commercial
Commercial and industrial$200 $— $31 $231 $773,183 $773,414 
Commercial real estate— — — — 852,708 852,708 
Mortgage
1-4 family owner occupied - jumbo— 544 — 544 840,602 841,146 
1-4 family owner occupied - non-jumbo1,948 1,244 1,176 4,368 299,388 303,756 
1-4 family non-owner occupied17 12 158 187 180,491 180,678 
1-4 family - 2nd lien132 125 354 611 112,875 113,486 
Resort lending— — 271 271 36,571 36,842 
Installment
Boat lending688 131 207 1,026 273,158 274,184 
Recreational vehicle lending520 213 203 936 258,609 259,545 
Other275 76 88 439 105,288 105,727 
Total$3,780 $2,345 $2,488 $8,613 $3,732,873 $3,741,486 
Accrued interest excluded from total$31 $32 $— $63 $11,899 $11,962 
December 31, 2022
Commercial
Commercial and industrial$— $— $38 $38 $732,425 $732,463 
Commercial real estate— — — — 734,390 734,390 
Mortgage
1-4 family owner occupied - jumbo— — — — 752,563 752,563 
1-4 family owner occupied - non-jumbo1,400 521 869 2,790 282,842 285,632 
1-4 family non-owner occupied61 93 200 354 182,746 183,100 
1-4 family - 2nd lien420 107 47 574 104,703 105,277 
Resort lending54 — 148 202 41,635 41,837 
Installment
Boat lending528 14 295 837 252,128 252,965 
Recreational vehicle lending639 147 18 804 269,869 270,673 
Other215 46 123 384 106,068 106,452 
Total$3,317 $928 $1,738 $5,983 $3,459,369 $3,465,352 
Accrued interest excluded from total$27 $7 $— $34 $9,975 $10,009 
During the three and nine months ended September 30, 2023, there were no troubled loan modifications or subsequent defaults.

During the nine months ended September 30, 2022, the terms of one loan were modified as a TDR. The modification of the terms of this loan included a reduction of the stated interest rate of the loan and a 34 month extension of the maturity date. The pre- and post-modification outstanding loan balances were both $0.3 million at September 30, 2022. This TDR increased the ACL by $0.03 million and resulted in zero charge-offs during the nine months ended September 30, 2022. There were no TDRs that subsequently defaulted within twelve months following the modification during the three and nine month period ended September 30, 2022.
A loan is considered to be in payment default generally once it is 90 days contractually past due under the modified terms.
In order to determine whether a borrower is experiencing financial difficulty, we perform an evaluation of the probability that the borrower will be in payment default on any of its debt in the foreseeable future without the modification. This evaluation is performed under our internal underwriting policy.
Credit Quality Indicators – As part of our on-going monitoring of the credit quality of our loan portfolios, we track certain credit quality indicators including (a) risk grade of commercial loans, (b) the level of classified commercial loans, (c) credit scores of mortgage and installment loan borrowers, and (d) delinquency history and non-performing loans.
For commercial loans, we use a loan rating system that is similar to those employed by state and federal banking regulators. Loans are graded on a scale of 1 to 12. A description of the general characteristics of the ratings follows:
Rating 1 through 6: These loans are generally referred to as our “non-watch” commercial credits that include very high or exceptional credit fundamentals through acceptable credit fundamentals.
Rating 7 and 8: These loans are generally referred to as our “watch” commercial credits. These ratings include loans to borrowers that exhibit potential credit weakness or downward trends. If not checked or cured these trends could weaken our asset or credit position. While potentially weak, no loss of principal or interest is envisioned with these ratings.
Rating 9: These loans are generally referred to as our “substandard accruing” commercial credits. This rating includes loans to borrowers that exhibit a well-defined weakness where payment default is probable and loss is possible if deficiencies are not corrected. Generally, loans with this rating are considered collectible as to both principal and interest primarily due to collateral coverage.
Rating 10 and 11: These loans are generally referred to as our ‘‘substandard - non-accrual’’ and ‘‘doubtful’’ commercial credits. Our doubtful rating includes a sub classification for a loss rate other than 50% (which is the standard doubtful loss rate). These ratings include loans to borrowers with weaknesses that make collection of the loan in full, on the basis of current facts, conditions and values at best questionable and at worst improbable. All of these loans are placed in non-accrual.
Rating 12: These loans are generally referred to as our “loss” commercial credits. This rating includes loans to borrowers that are deemed incapable of repayment and are charged-off.
The following tables summarize loan ratings by loan class for our commercial portfolio loan segment at September 30, 2023 and December 31, 2022:
Commercial
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis		Total
20232022202120202019Prior
(In thousands)
September 30, 2023
Commercial and industrial
Non-watch (1-6)$89,614 $161,231 $81,054 $48,715 $52,897 $116,890 $186,838 $737,239 
Watch (7-8)598 4,622 3,087 5,274 4,204 3,972 9,695 31,452 
Substandard Accrual (9)— 930 1,447 48 1,442 53 772 4,692 
Non-Accrual (10-11)— — — — — 31 — 31 
Total$90,212 $166,783 $85,588 $54,037 $58,543 $120,946 $197,305 $773,414 
Accrued interest excluded from total$150 $448 $163 $131 $136 $533 $970 $2,531 
Current period gross charge-offs$— $— $— $— $— $69 $24 $93 
Commercial real estate
Non-watch (1-6)$154,789 $181,519 $142,549 $30,333 $83,663 $188,916 $45,739 $827,508 
Watch (7-8)— — 15,144 — 2,364 5,624 — 23,132 
Substandard Accrual (9)— — — — 2,068 — — 2,068 
Non-Accrual (10-11)— — — — — — — — 
Total$154,789 $181,519 $157,693 $30,333 $88,095 $194,540 $45,739 $852,708 
Accrued interest excluded from total$312 $689 $644 $68 $354 $686 $177 $2,930 
Current period gross charge-offs$— $— $— $— $960 $— $— $960 
Total Commercial
Non-watch (1-6)$244,403 $342,750 $223,603 $79,048 $136,560 $305,806 $232,577 $1,564,747 
Watch (7-8)598 4,622 18,231 5,274 6,568 9,596 9,695 54,584 
Substandard Accrual (9)— 930 1,447 48 3,510 53 772 6,760 
Non-Accrual (10-11)— — — — — 31 — 31 
Total$245,001 $348,302 $243,281 $84,370 $146,638 $315,486 $243,044 $1,626,122 
Accrued interest excluded from total$462 $1,137 $807 $199 $490 $1,219 $1,147 $5,461 
Current period gross charge-offs$— $— $— $— $960 $69 $24 $1,053 
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis 		Total
20222021202020192018Prior
(In thousands)
December 31, 2022
Commercial and industrial
Non-watch (1-6)$157,561 $89,251 $58,292 $45,792 $30,715 $95,908 $237,906 $715,425 
Watch (7-8)680 4,539 781 1,690 105 4,474 2,793 15,062 
Substandard Accrual (9)— 971 68 388 109 402 — 1,938 
Non-Accrual (10-11)— — — — — 38 — 38 
Total$158,241 $94,761 $59,141 $47,870 $30,929 $100,822 $240,699 $732,463 
Accrued interest excluded from total$238 $178 $146 $105 $181 $308 $890 $2,046 
Commercial real estate
Non-watch (1-6)$170,238 $154,918 $38,062 $97,762 $56,580 $159,514 $42,030 $719,104 
Watch (7-8)— 182 313 4,769 1,010 1,641 112 8,027 
Substandard Accrual (9)— — — 181 2,014 5,064 — 7,259 
Non-Accrual (10-11)— — — — — — — — 
Total$170,238 $155,100 $38,375 $102,712 $59,604 $166,219 $42,142 $734,390 
Accrued interest excluded from total$609 $468 $88 $368 $206 $515 $109 $2,363 
Total Commercial
Non-watch (1-6)$327,799 $244,169 $96,354 $143,554 $87,295 $255,422 $279,936 $1,434,529 
Watch (7-8)680 4,721 1,094 6,459 1,115 6,115 2,905 23,089 
Substandard Accrual (9)— 971 68 569 2,123 5,466 — 9,197 
Non-Accrual (10-11)— — — — — 38 — 38 
Total$328,479 $249,861 $97,516 $150,582 $90,533 $267,041 $282,841 $1,466,853 
Accrued interest excluded from total$847 $646 $234 $473 $387 $823 $999 $4,409 
For each of our mortgage and installment portfolio segment classes, we generally monitor credit quality based on the credit scores of the borrowers. These credit scores are generally updated semi-annually.
The following tables summarize credit scores by loan class for our mortgage and installment loan portfolio segments at September 30, 2023 and December 31, 2022:
Mortgage (1)
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis		Total
20232022202120202019Prior
(In thousands)
September 30, 2023
1-4 family owner occupied - jumbo
800 and above$5,778 $25,024 $56,386 $17,942 $4,590 $5,027 $499 $115,246 
750-79937,645 126,267 202,333 63,734 19,976 18,693 1,024 469,672 
700-74916,196 48,227 71,004 24,661 11,723 12,439 1,496 185,746 
650-6992,039 11,233 20,227 10,123 2,291 5,751 — 51,664 
600-649— 4,552 1,748 3,981 1,131 3,122 — 14,534 
550-599— 1,078 499 — — — — 1,577 
500-549— — 550 1,480 — 677 — 2,707 
Under 500— — — — — — — — 
Unknown— — — — — — — — 
Total$61,658 $216,381 $352,747 $121,921 $39,711 $45,709 $3,019 $841,146 
Accrued interest excluded from total$266 $669 $754 $293 $113 $156 $23 $2,274 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Mortgage (1)
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis		Total
20232022202120202019Prior
(In thousands)
September 30, 2023 - continued
1-4 family owner occupied - non-jumbo
800 and above$2,197 $8,999 $8,949 $4,629 $2,872 $9,432 $4,128 $41,206 
750-79911,105 36,171 24,067 14,942 5,009 18,221 7,883 117,398 
700-7496,630 21,429 10,896 5,379 3,936 23,609 3,401 75,280 
650-6999,606 8,206 4,390 3,671 2,487 12,577 1,299 42,236 
600-649— 232 783 1,343 946 8,699 58 12,061 
550-599— 241 1,061 682 705 5,072 94 7,855 
500-549— — 306 1,654 476 2,872 — 5,308 
Under 500— — 95 150 740 1,427 — 2,412 
Unknown— — — — — — — — 
Total$29,538 $75,278 $50,547 $32,450 $17,171 $81,909 $16,863 $303,756 
Accrued interest excluded from total$107 $262 $118 $79 $51 $307 $134 $1,058 
Current period gross charge-offs$— $— $— $— $— $26 $— $26 
1-4 family non-owner occupied
800 and above$2,566 $2,888 $11,981 $2,837 $3,383 $6,672 $1,557 $31,884 
750-79910,860 20,388 32,253 12,347 5,743 13,679 2,913 98,183 
700-7493,265 7,066 8,859 5,446 1,558 6,484 2,131 34,809 
650-699291 1,348 2,496 2,812 217 3,594 570 11,328 
600-649— 389 137 — 30 1,692 88 2,336 
550-599— — 541 — 75 1,052 60 1,728 
500-549— — — — — 221 — 221 
Under 500— — — — — 189 — 189 
Unknown— — — — — — — — 
Total$16,982 $32,079 $56,267 $23,442 $11,006 $33,583 $7,319 $180,678 
Accrued interest excluded from total$65 $116 $156 $66 $35 $132 $56 $626 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
1-4 family - 2nd lien
800 and above$187 $912 $539 $617 $183 $1,375 $9,794 $13,607 
750-7991,618 2,883 2,899 2,435 1,074 3,637 35,805 50,351 
700-7491,450 2,186 1,656 618 567 2,469 24,817 33,763 
650-699553 188 424 806 172 1,330 7,418 10,891 
600-649— 166 109 — 129 902 2,069 3,375 
550-599— — — 39 33 234 169 475 
500-549— — — — 172 496 186 854 
Under 500— — — — 76 94 — 170 
Unknown— — — — — — — — 
Total$3,808 $6,335 $5,627 $4,515 $2,406 $10,537 $80,258 $113,486 
Accrued interest excluded from total$13 $27 $14 $12 $9 $45 $653 $773 
Current period gross charge-offs$— $— $— $— $— $5 $— $5 
Mortgage - continued (1)
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis		Total
20232022202120202019Prior
(In thousands)
September 30, 2023 - continued
Resort lending
800 and above$— $— $523 $— $— $6,177 $— $6,700 
750-799— 821 960 1,046 180 14,492 — 17,499 
700-749— 109 592 250 — 6,519 — 7,470 
650-699— — — 50 — 4,134 — 4,184 
600-649— — — — — 451 — 451 
550-599— — — — — 352 — 352 
500-549— — — — — 92 — 92 
Under 500— — — — — 94 — 94 
Unknown— — — — — — — — 
Total$— $930 $2,075 $1,346 $180 $32,311 $— $36,842 
Accrued interest excluded from total$— $4 $4 $4 $— $133 $— $145 
Current period gross charge-offs$— $— $— $— $— $— $— $— 
Total Mortgage
800 and above$10,728 $37,823 $78,378 $26,025 $11,028 $28,683 $15,978 $208,643 
750-79961,228 186,530 262,512 94,504 31,982 68,722 47,625 753,103 
700-74927,541 79,017 93,007 36,354 17,784 51,520 31,845 337,068 
650-69912,489 20,975 27,537 17,462 5,167 27,386 9,287 120,303 
600-649— 5,339 2,777 5,324 2,236 14,866 2,215 32,757 
550-599— 1,319 2,101 721 813 6,710 323 11,987 
500-549— — 856 3,134 648 4,358 186 9,182 
Under 500— — 95 150 816 1,804 — 2,865 
Unknown— — — — — — — — 
Total$111,986 $331,003 $467,263 $183,674 $70,474 $204,049 $107,459 $1,475,908 
Accrued interest excluded from total$451 $1,078 $1,046 $454 $208 $773 $866 $4,876 
Current period gross charge-offs$— $— $— $— $— $31 $— $31 
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis		Total
20222021202020192018Prior
(In thousands)
December 31, 2022
1-4 family owner occupied - jumbo
800 and above$23,764 $54,637 $16,848 $9,211 $2,988 $6,946 $639 $115,033 
750-79997,269 189,653 71,555 16,091 1,828 16,140 683 393,219 
700-74934,158 91,189 28,701 12,666 2,775 8,852 1,536 179,877 
650-69910,905 20,743 7,216 2,554 4,250 4,020 827 50,515 
600-6491,712 1,275 4,534 464 — 2,150 — 10,135 
550-599549 1,516 — — 469 — — 2,534 
500-549— — 561 — — 689 — 1,250 
Under 500— — — — — — — — 
Unknown— — — — — — — — 
Total$168,357 $359,013 $129,415 $40,986 $12,310 $38,797 $3,685 $752,563 
Accrued interest excluded from total$506 $773 $315 $108 $44 $127 $19 $1,892 
1-4 family owner occupied - non-jumbo
800 and above$8,894 $10,498 $5,558 $3,220 $2,074 $6,074 $1,680 $37,998 
750-79933,833 26,239 13,956 6,018 4,501 18,009 9,936 112,492 
700-74917,629 13,526 7,626 3,938 3,263 22,506 3,509 71,997 
650-6997,983 5,124 2,679 3,270 1,992 10,893 983 32,924 
600-6491,539 1,226 1,836 423 1,035 7,044 99 13,202 
550-599— — 56 1,472 938 5,481 132 8,079 
500-549— 76 850 341 570 4,142 115 6,094 
Under 500— 207 764 475 285 1,115 — 2,846 
Unknown— — — — — — — — 
Total$69,878 $56,896 $33,325 $19,157 $14,658 $75,264 $16,454 $285,632 
Accrued interest excluded from total$283 $123 $78 $58 $58 $242 $111 $953 
Mortgage - continued (1)
Term Loans Amortized Cost Basis by Origination YearRevolving
Loans
Amortized
Cost Basis		Total
20222021202020192018Prior
(In thousands)
December 31, 2022 - (continued)
1-4 family non-owner occupied
800 and above$4,329 $9,308 $5,178 $4,147 $752 $5,842 $1,683 $31,239 
750-79922,171 36,363 12,242 6,103 2,549 12,257 4,132 95,817 
700-7498,739 12,423 5,507 1,335 1,198 6,825 1,930 37,957 
650-6991,476 2,489 3,798 190 292 4,350 550 13,145 
600-649954 139 — 107 491 1,475 203 3,369 
550-599— — — 121 54 404 335 914 
500-549— — — — — 402 60 462 
Under 500— — — — — 197 — 197 
Unknown— — — — — — — — 
Total$37,669 $60,722 $26,725 $12,003 $5,336 $31,752 $8,893 $183,100 
Accrued interest excluded from total$106 $161 $69 $36 $21 $108 $57 $558 
1-4 family - 2nd lien
800 and above$238 $282 $454 $267 $200 $503 $8,000 $9,944 
750-7992,109 2,749 2,334 665 333 3,597 38,346 50,133 
700-7491,495 1,820 931 759 459 2,649 20,981 29,094 
650-699192 292 90 237 275 1,496 8,188 10,770 
600-64920 99 258 192 23 974 2,040 3,606 
550-599130 — — — 132 395 228 885 
500-549— — — 18 — 418 122 558 
Under 500— — — 129 3 55 100 287 
Unknown— — — — — — — — 
Total$4,184 $5,242 $4,067 $2,267 $1,425 $10,087 $78,005 $105,277 
Accrued interest excluded from total$11 $11 $8 $7 $4 $36 $511 $588 
Resort lending
800 and above$— $429 $— $— $268 $7,031 $— $7,728 
750-7991,045 1,272 1,211 183 616 15,815 — 20,142 
700-74985 651 114 — — 6,331 — 7,181 
650-699107 — 53 — — 5,413 — 5,573 
600-649— — — — — 895 — 895 
550-599— — — — — 68 — 68 
500-549— — — — — 140 — 140 
Under 500— — — — — 110 — 110 
Unknown— — — — — — — — 
Total$1,237 $2,352 $1,378 $183 $884 $35,803 $— $41,837 
Accrued interest excluded from total$4 $4 $3 $— $3 $111 $— $125 
Total Mortgage
800 and above$37,225 $75,154 $28,038 $16,845 $6,282 $26,396 $12,002 $201,942 
750-799156,427 256,276 101,298 29,060 9,827 65,818 53,097 671,803 
700-74962,106 119,609 42,879 18,698 7,695 47,163 27,956 326,106 
650-69920,663 28,648 13,836 6,251 6,809 26,172 10,548 112,927 
600-6494,225 2,739 6,628 1,186 1,549 12,538 2,342 31,207 
550-599679 1,516 56 1,593 1,593 6,348 695 12,480 
500-549— 76 1,411 359 570 5,791 297 8,504 
Under 500— 207 764 604 288 1,477 100 3,440 
Unknown— — — — — — — — 
Total$281,325 $484,225 $194,910 $74,596 $34,613 $191,703 $107,037 $1,368,409 
Accrued interest excluded from total$910 $1,072 $473 $209 $130 $624 $698 $4,116 
(1)Credit scores have been updated within the last twelve months.
Installment (1)
Term Loans Amortized Cost Basis by Origination Year
20232022202120202019PriorTotal
(In thousands)
September 30, 2023
Boat lending
800 and above$9,045 $7,028 $8,329 $3,798 $4,537 $7,583 $40,320 
750-79931,098 38,514 31,549 16,162 13,243 22,875 153,441 
700-74914,711 15,631 11,659 5,850 5,112 8,871 61,834 
650-6992,317 3,141 4,040 1,309 1,303 1,954 14,064 
600-649450 452 935 424 108 678 3,047 
550-599— 147 335 15 67 465 1,029 
500-549— — — 164 18 112 294 
Under 500— — 110 — — 45 155 
Unknown— — — — — — — 
Total$57,621 $64,913 $56,957 $27,722 $24,388 $42,583 $274,184 
Accrued interest excluded from total$210 $149 $130 $61 $57 $93 $700 
Current period gross charge-offs$— $28 $— $— $15 $24 $67 
Recreational vehicle lending
800 and above$3,201 $9,133 $11,354 $3,872 $3,907 $5,918 $37,385 
750-79916,444 44,914 40,915 13,082 9,322 12,950 137,627 
700-7496,871 19,854 22,015 6,451 3,964 4,234 63,389 
650-6991,613 4,399 5,411 1,369 1,042 1,472 15,306 
600-64935 570 1,687 227 259 543 3,321 
550-599— 380 516 55 89 170 1,210 
500-549— 373 372 122 164 91 1,122 
Under 500— 24 114 — 39 8 185 
Unknown— — — — — — — 
Total$28,164 $79,647 $82,384 $25,178 $18,786 $25,386 $259,545 
Accrued interest excluded from total$111 $194 $191 $57 $45 $55 $653 
Current period gross charge-offs$14 $29 $148 $32 $66 $— $289 
Other
800 and above$2,528 $1,278 $1,425 $1,096 $691 $898 $7,916 
750-79910,627 11,883 7,785 3,923 1,973 4,686 40,877 
700-7494,341 7,949 5,271 2,551 1,107 3,069 24,288 
650-69921,037 3,411 2,114 624 372 1,346 28,904 
600-649151 617 342 155 93 436 1,794 
550-5996 157 186 81 74 141 645 
500-549— 171 160 15 60 118 524 
Under 500— 54 43 13 20 25 155 
Unknown624 — — — — — 624 
Total$39,314 $25,520 $17,326 $8,458 $4,390 $10,719 $105,727 
Accrued interest excluded from total$85 $61 $33 $18 $11 $64 $272 
Current period gross charge-offs$1,189 $67 $10 $17 $— $139 $1,422 
Installment (1)
Term Loans Amortized Cost Basis by Origination Year
20232022202120202019PriorTotal
(In thousands)
September 30, 2023 - continued
Total installment
800 and above$14,774 $17,439 $21,108 $8,766 $9,135 $14,399 $85,621 
750-79958,169 95,311 80,249 33,167 24,538 40,511 331,945 
700-74925,923 43,434 38,945 14,852 10,183 16,174 149,511 
650-69924,967 10,951 11,565 3,302 2,717 4,772 58,274 
600-649636 1,639 2,964 806 460 1,657 8,162 
550-5996 684 1,037 151 230 776 2,884 
500-549— 544 532 301 242 321 1,940 
Under 500— 78 267 13 59 78 495 
Unknown624 — — — — — 624 
Total$125,099 $170,080 $156,667 $61,358 $47,564 $78,688 $639,456 
Accrued interest excluded from total$406 $404 $354 $136 $113 $212 $1,625 
Current period gross charge-offs$1,203 $124 $158 $49 $81 $163 $1,778 
Installment - continued (1)
Term Loans Amortized Cost Basis by Origination Year
20222021202020192018PriorTotal
(In thousands)
December 31, 2022
Boat lending
800 and above$7,901 $8,763 $4,391 $5,102 $3,612 $5,955 $35,724 
750-79944,498 37,531 20,179 16,506 12,814 14,504 146,032 
700-74915,390 13,704 7,281 5,848 4,357 6,132 52,712 
650-6993,933 4,135 1,498 1,290 1,032 2,213 14,101 
600-649661 1,043 149 286 200 670 3,009 
550-59922 195 16 53 203 274 763 
500-549277 57 62 43 106 30 575 
Under 500— — — — 26 23 49 
Unknown— — — — — — — 
Total$72,682 $65,428 $33,576 $29,128 $22,350 $29,801 $252,965 
Accrued interest excluded from total$171 $148 $84 $78 $52 $68 $601 
Recreational vehicle lending
800 and above$9,327 $10,752 $4,524 $4,834 $3,416 $4,319 $37,172 
750-79951,555 49,949 16,175 11,920 8,990 7,818 146,407 
700-74923,143 24,945 7,680 4,459 2,279 2,939 65,445 
650-6995,013 6,516 1,598 1,361 727 904 16,119 
600-649793 1,608 374 446 232 268 3,721 
550-599107 381 129 202 234 87 1,140 
500-549— 293 111 61 59 15 539 
Under 500— 85 7 22 — 16 130 
Unknown— — — — — — — 
Total$89,938 $94,529 $30,598 $23,305 $15,937 $16,366 $270,673 
Accrued interest excluded from total$219 $227 $72 $58 $38 $34 $648 
Other
800 and above$1,974 $1,647 $1,449 $942 $366 $731 $7,109 
750-79915,692 9,973 5,521 3,393 1,678 3,612 39,869 
700-7499,848 7,517 3,404 1,801 999 2,653 26,222 
650-69922,740 2,851 1,051 593 405 1,286 28,926 
600-649711 634 127 222 147 507 2,348 
550-599122 63 170 54 115 118 642 
500-54967 217 29 64 19 90 486 
Under 5006 52 22 28 13 28 149 
Unknown701 — — — — — 701 
Total$51,861 $22,954 $11,773 $7,097 $3,742 $9,025 $106,452 
Accrued interest excluded from total$84 $48 $25 $19 $10 $49 $235 
Total installment
800 and above$19,202 $21,162 $10,364 $10,878 $7,394 $11,005 $80,005 
750-799111,745 97,453 41,875 31,819 23,482 25,934 332,308 
700-74948,381 46,166 18,365 12,108 7,635 11,724 144,379 
650-69931,686 13,502 4,147 3,244 2,164 4,403 59,146 
600-6492,165 3,285 650 954 579 1,445 9,078 
550-599251 639 315 309 552 479 2,545 
500-549344 567 202 168 184 135 1,600 
Under 5006 137 29 50 39 67 328 
Unknown701 — — — — — 701 
Total$214,481 $182,911 $75,947 $59,530 $42,029 $55,192 $630,090 
Accrued interest excluded from total$474 $423 $181 $155 $100 $151 $1,484 
(1)Credit scores have been updated within the last twelve months.
Foreclosed residential real estate properties included in other real estate and repossessed assets on our Condensed Consolidated Statements of Financial Condition totaled $0.4 million and $0.4 million at September 30, 2023 and
December 31, 2022, respectively. Retail mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process according to local requirements totaled $0.3 million and $0.8 million at September 30, 2023 and December 31, 2022, respectively.During the nine month period ended September 30, 2023, we sold $51.5 million of portfolio residential mortgage loans servicing retained and recognized a gain (loss) on sale of $(0.15) million. No portfolio residential mortgage loans were sold during the three month period ended September 30, 2023. During the three and nine periods of 2022, we sold $22.7 million and $56.2 million, respectively, of portfolio residential mortgage loans servicing retained and recognized a gain (loss) on sale of $(0.15) million and $0.25 million respectively. These transactions were done primarily for asset/liability management purposes.