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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 70,766 $ 30,719
Investment securities    
Available for sale, at fair value (amortized cost $178,186 and $182,027, respectively) 152,183 153,416
Held to maturity, at amortized cost (fair value $879,323 and $885,586, respectively) 1,030,858 1,051,997
Total investment securities 1,183,041 1,205,413
Loans    
Total loans 4,018,082 4,062,856
Less: allowance for credit losses on loans (38,005) (37,774)
Net loans 3,980,077 4,025,082
Federal Home Loan Bank of Boston Stock, at cost 12,172 6,264
Bank owned life insurance 34,674 34,484
Banking premises and equipment, net 22,941 23,297
Right-of-use asset operating leases 23,855 25,098
Deferred income taxes, net 14,598 17,990
Accrued interest receivable 14,129 14,118
Goodwill 64,539 64,539
Merger-related intangibles, net 7,219 7,443
Other assets 100,573 105,290
Total assets 5,528,584 5,559,737
Deposits    
Demand 1,166,643 1,366,395
Interest-bearing checking 1,071,165 908,961
Money market 998,465 1,162,773
Savings 668,385 790,628
Certificates of deposit 752,118 586,619
Total deposits 4,656,776 4,815,376
Borrowings 240,997 105,212
Operating lease liabilities 26,082 27,413
Other liabilities 78,780 94,184
Total liabilities 5,002,635 5,042,185
Shareholders’ Equity    
Common stock, par value $1.00; Authorized: 10,000,000 shares; Outstanding: 7,833,997 shares and 7,796,440 shares, respectively 7,834 7,796
Additional paid-in capital 292,250 293,186
Retained earnings 244,561 237,369
Accumulated other comprehensive loss (18,696) (20,799)
Total shareholders’ equity 525,949 517,552
Total liabilities and shareholders’ equity 5,528,584 5,559,737
Residential Mortgage    
Loans    
Total loans 1,631,751 1,648,838
Commercial Mortgage    
Loans    
Total loans 1,906,018 1,914,423
Home Equity    
Loans    
Total loans 101,715 111,351
Commercial and Industrial    
Loans    
Total loans 343,686 350,650
Consumer    
Loans    
Total loans $ 34,912 $ 37,594