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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Assets    
Cash and cash equivalents $ 33,398 $ 30,719
Investment securities    
Available for sale, at fair value (amortized cost $172,568 and $182,027, respectively) 144,306 153,416
Held to maturity, at amortized cost (fair value $839,025 and $885,586, respectively) 1,007,471 1,051,997
Total investment securities 1,151,777 1,205,413
Loans    
Total loans 4,025,226 4,062,856
Less: allowance for credit losses on loans (38,073) (37,774)
Net loans 3,987,153 4,025,082
Federal Home Loan Bank of Boston Stock, at cost 20,247 6,264
Bank owned life insurance 34,866 34,484
Banking premises and equipment, net 22,654 23,297
Right-of-use asset operating leases 23,111 25,098
Deferred income taxes, net 15,841 17,990
Accrued interest receivable 14,573 14,118
Goodwill 64,539 64,539
Merger-related intangibles, net 6,996 7,443
Other assets 114,467 105,290
Total assets 5,489,622 5,559,737
Deposits    
Demand 1,059,563 1,366,395
Interest-bearing checking 1,171,164 908,961
Money market 981,304 1,162,773
Savings 593,210 790,628
Certificates of deposit 637,349 586,619
Total deposits 4,442,590 4,815,376
Borrowings 408,926 105,212
Operating lease liabilities 25,376 27,413
Other liabilities 85,726 94,184
Total liabilities 4,962,618 5,042,185
Shareholders’ Equity    
Common stock, par value $1.00; Authorized: 10,000,000 shares; Outstanding: 7,845,868 shares and 7,796,440 shares, respectively 7,846 7,796
Additional paid-in capital 293,500 293,186
Retained earnings 246,428 237,369
Accumulated other comprehensive loss (20,770) (20,799)
Total shareholders’ equity 527,004 517,552
Total liabilities and shareholders’ equity 5,489,622 5,559,737
Residential Mortgage    
Loans    
Total loans 1,617,194 1,648,838
Commercial Mortgage    
Loans    
Total loans 1,916,159 1,914,423
Home Equity    
Loans    
Total loans 95,975 111,351
Commercial and Industrial    
Loans    
Total loans 367,403 350,650
Consumer    
Loans    
Total loans $ 28,495 $ 37,594