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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2022
Dec. 31, 2021
Assets    
Cash and cash equivalents $ 81,748 $ 180,153
Investment securities    
Available for sale, at fair value (amortized cost $202,688 and $201,270, respectively) 188,205 197,803
Held to maturity, at amortized cost (fair value $1,043,391 and $971,092, respectively) 1,115,824 977,061
Total investment securities 1,304,029 1,174,864
Loans held for sale, at lower of cost or fair value 918 1,490
Loans    
Total loans 3,417,213 3,319,106
Less: allowance for credit losses on loans (34,110) (34,496)
Net loans 3,383,103 3,284,610
Federal Home Loan Bank of Boston Stock, at cost 4,816 4,816
Bank owned life insurance 47,157 46,970
Banking premises and equipment, net 17,136 17,326
Right-of-use asset operating leases 29,757 31,273
Deferred income taxes, net 10,460 9,985
Accrued interest receivable 9,718 9,162
Goodwill 51,912 51,912
Merger-related intangibles, net 2,526 2,617
Other assets 75,099 76,366
Total assets 5,018,379 4,891,544
Deposits    
Demand 1,426,310 1,393,935
Interest-bearing checking 785,003 763,188
Money market 1,209,765 1,104,238
Savings 918,895 907,722
Certificates of deposit 133,762 162,069
Total deposits 4,473,735 4,331,152
Borrowings 16,140 16,510
Operating lease liabilities 32,271 33,871
Other liabilities 60,068 72,174
Total liabilities 4,582,214 4,453,707
Shareholders’ Equity    
Common stock, par value $1.00; Authorized: 10,000,000 shares; Outstanding: 7,000,995 shares and 6,968,192 shares, respectively 7,001 6,968
Additional paid-in capital 228,538 229,205
Retained earnings 211,730 202,874
Accumulated other comprehensive income (loss) (11,104) (1,210)
Total shareholders’ equity 436,165 437,837
Total liabilities and shareholders’ equity 5,018,379 4,891,544
Residential Mortgage    
Loans    
Total loans 1,447,141 1,415,079
Commercial Mortgage    
Loans    
Total loans 1,579,494 1,511,002
Home Equity    
Loans    
Total loans 86,559 87,960
Commercial and Industrial    
Loans    
Total loans 262,772 269,446
Consumer    
Loans    
Total loans $ 41,247 $ 35,619