XML 9 R2.htm IDEA: XBRL DOCUMENT v3.24.1.u1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Assets    
Cash and cash equivalents $ 29,705 $ 33,004
Investment securities    
Available for sale, at fair value (amortized cost $159,483 and $163,376, respectively) 133,222 137,838
Held to maturity, at amortized cost (fair value $777,383 and $805,428, respectively) 940,618 959,332
Total investment securities 1,073,840 1,097,170
Loans    
Total loans 3,994,749 4,021,544
Less: allowance for credit losses on loans (39,347) (38,944)
Net loans 3,955,402 3,982,600
Federal Home Loan Bank of Boston Stock, at cost 24,291 19,056
Bank owned life insurance 35,471 35,265
Banking premises and equipment, net 20,858 21,753
Right-of-use asset operating leases 21,694 23,233
Deferred income taxes, net 14,359 15,299
Accrued interest receivable 15,226 15,765
Goodwill 64,539 64,539
Merger-related intangibles, net 6,327 6,550
Other assets 112,128 103,432
Total assets 5,373,840 5,417,666
Deposits    
Demand- Non Interest bearing 965,090 1,032,413
Interest-bearing checking 1,202,713 1,132,518
Money market 934,958 983,480
Savings 507,640 498,386
Certificates of deposit 574,981 674,381
Total deposits 4,185,382 4,321,178
Borrowings 546,405 452,155
Operating lease liabilities 23,914 25,165
Other liabilities 82,543 84,595
Total liabilities 4,838,244 4,883,093
Shareholders’ Equity    
Common stock, par value $1.00; Authorized: 10,000,000 shares; Outstanding: 7,845,598 shares and 7,845,452 shares, respectively 7,846 7,845
Additional paid-in capital 294,294 293,950
Retained earnings 252,124 250,492
Accumulated other comprehensive loss (18,668) (17,714)
Total shareholders’ equity 535,596 534,573
Total liabilities and shareholders’ equity 5,373,840 5,417,666
Residential Mortgage    
Loans    
Total loans 1,611,271 1,626,264
Commercial Mortgage    
Loans    
Total loans 1,922,278 1,931,473
Home Equity    
Loans    
Total loans 90,647 95,649
Commercial and Industrial    
Loans    
Total loans 348,549 343,711
Consumer    
Loans    
Total loans $ 22,004 $ 24,447