(State or other jurisdiction of | (I.R.S. Employer | |||||||
incorporation or organization) | Identification No.) |
(Address of principal executive offices) | (Zip Code) |
Title of each class | Trading Symbol | Name of each exchange on which registered | ||||||||||||
Large accelerated filer ☐ | ☒ | ||||||||||||||||
Non-accelerated filer | ☐ | Smaller reporting company | |||||||||||||||
Emerging growth company |
Dollars in thousands, except per share data | June 30, 2023 | December 31, 2022 | ||||||||||||
ASSETS | ||||||||||||||
Cash and due from banks | $ | $ | ||||||||||||
Interest bearing deposits with banks | ||||||||||||||
Total Cash and Cash Equivalents | ||||||||||||||
Equity securities with readily determinable fair values | ||||||||||||||
Debt securities available for sale | ||||||||||||||
Securities held to maturity, fair value $ | ||||||||||||||
Loans held for sale | ||||||||||||||
Loans, net of allowance for credit losses $ | ||||||||||||||
Assets held for sale | ||||||||||||||
Premises and equipment, net | ||||||||||||||
Right of use assets | ||||||||||||||
Restricted investment in bank stocks | ||||||||||||||
Investment in bank-owned life insurance | ||||||||||||||
Investments in low-income housing partnerships | ||||||||||||||
Goodwill | ||||||||||||||
Intangible assets, net | ||||||||||||||
Foreclosed assets held for resale | ||||||||||||||
Other assets | ||||||||||||||
Total Assets | $ | $ | ||||||||||||
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||||||||
LIABILITIES | ||||||||||||||
Deposits: | ||||||||||||||
Non-interest bearing | $ | $ | ||||||||||||
Interest bearing | ||||||||||||||
Total Deposits | ||||||||||||||
Short-term borrowings | ||||||||||||||
Long-term borrowings | ||||||||||||||
Lease liabilities | ||||||||||||||
Allowance for unfunded commitments | ||||||||||||||
Other liabilities | ||||||||||||||
Total Liabilities | ||||||||||||||
STOCKHOLDERS’ EQUITY | ||||||||||||||
Preferred stock, $ | ||||||||||||||
Common stock, $ | ||||||||||||||
Treasury stock, at cost; | ( | ( | ||||||||||||
Additional paid-in capital | ||||||||||||||
Retained earnings | ||||||||||||||
Accumulated other comprehensive loss | ( | ( | ||||||||||||
Total Stockholders’ Equity | ||||||||||||||
Total Liabilities and Stockholders’ Equity | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
Dollars in thousands, except per share data | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
INTEREST AND DIVIDEND INCOME | ||||||||||||||||||||||||||
Loans, including fees | ||||||||||||||||||||||||||
Taxable | $ | $ | $ | $ | ||||||||||||||||||||||
Tax-exempt | ||||||||||||||||||||||||||
Securities: | ||||||||||||||||||||||||||
Taxable | ||||||||||||||||||||||||||
Tax-exempt | ||||||||||||||||||||||||||
Dividends | ||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||
Total Interest Income | ||||||||||||||||||||||||||
INTEREST EXPENSE | ||||||||||||||||||||||||||
Deposits | ||||||||||||||||||||||||||
Short-term borrowings | ||||||||||||||||||||||||||
Long-term borrowings | ||||||||||||||||||||||||||
Total Interest Expense | ||||||||||||||||||||||||||
Net Interest Income | ||||||||||||||||||||||||||
Reversal of Credit Losses | ( | ( | ||||||||||||||||||||||||
Provision for Unfunded Commitments | ||||||||||||||||||||||||||
Net Interest Income after Provisions for (Reversal of) Credit Losses and Unfunded Commitments | ||||||||||||||||||||||||||
OTHER INCOME | ||||||||||||||||||||||||||
Commissions from insurance sales | ||||||||||||||||||||||||||
Service charges on deposit accounts | ||||||||||||||||||||||||||
Income from fiduciary, investment management and brokerage activities | ||||||||||||||||||||||||||
Gain from mortgage loans held for sale | ||||||||||||||||||||||||||
Earnings on investment in bank-owned life insurance | ||||||||||||||||||||||||||
Net losses on sales or calls of securities | ( | ( | ||||||||||||||||||||||||
Net (losses) gains on equity securities | ( | ( | ( | |||||||||||||||||||||||
Gain on assets held for sale | ||||||||||||||||||||||||||
Service charges on ATM and debit card transactions | ||||||||||||||||||||||||||
Other | ||||||||||||||||||||||||||
Total Other Income | ||||||||||||||||||||||||||
OTHER EXPENSES | ||||||||||||||||||||||||||
Salaries and employee benefits | ||||||||||||||||||||||||||
Net occupancy | ||||||||||||||||||||||||||
Equipment | ||||||||||||||||||||||||||
Other tax | ||||||||||||||||||||||||||
Professional services | ||||||||||||||||||||||||||
Supplies and postage | ||||||||||||||||||||||||||
Marketing and corporate relations | ||||||||||||||||||||||||||
FDIC and regulatory | ||||||||||||||||||||||||||
Intangible assets amortization | ||||||||||||||||||||||||||
Other operating | ||||||||||||||||||||||||||
Total Other Expenses | ||||||||||||||||||||||||||
Income before Income Taxes | ||||||||||||||||||||||||||
PROVISION FOR INCOME TAXES | ||||||||||||||||||||||||||
Net Income | $ | $ | $ | $ | ||||||||||||||||||||||
PER SHARE DATA | ||||||||||||||||||||||||||
Basic earnings | $ | $ | $ | $ | ||||||||||||||||||||||
Diluted earnings | $ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
Dollars in thousands | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
NET INCOME | $ | $ | $ | $ | ||||||||||||||||||||||
OTHER COMPREHENSIVE INCOME | ||||||||||||||||||||||||||
SECURITIES | ||||||||||||||||||||||||||
Unrealized losses arising during the period, net of income taxes of $( | ( | ( | ( | ( | ||||||||||||||||||||||
Reclassification adjustment for net losses included in net income, net of income taxes of $ | ||||||||||||||||||||||||||
Total unrealized loss on investment securities | ( | ( | ( | ( | ||||||||||||||||||||||
Amortization of unrealized losses on securities previously transferred to held to maturity, net of income taxes of $ | ||||||||||||||||||||||||||
Total amortization of unrealized losses on investment securities | ||||||||||||||||||||||||||
PENSION | ||||||||||||||||||||||||||
Amortization of pension net loss, transition liability, and prior service cost, net of income taxes of $( | ||||||||||||||||||||||||||
Unrecognized net loss, net of income taxes of $ | ||||||||||||||||||||||||||
Total unrealized loss on pension | ||||||||||||||||||||||||||
TOTAL OTHER COMPREHENSIVE LOSS | ( | ( | ( | ( | ||||||||||||||||||||||
TOTAL COMPREHENSIVE INCOME (LOSS) | $ | $ | ( | $ | $ | ( |
Dollars in thousands | Common Stock | Treasury Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Total Stockholders’ Equity | ||||||||||||||||||||||||||||||||
BALANCE – January 1, 2023 | $ | $ | ( | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||
Cumulative effect for adoption of Topic 326, net of tax | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive income, net of taxes | — | — | — | — | ||||||||||||||||||||||||||||||||||
Common stock shares issued ( | — | — | — | |||||||||||||||||||||||||||||||||||
Repurchase of common stock ( | — | ( | — | — | — | ( | ||||||||||||||||||||||||||||||||
Issuance of restricted common shares, net of forfeiture and shares withheld for taxes ( | — | ( | — | — | ||||||||||||||||||||||||||||||||||
Compensation expense for restricted shares | — | — | — | — | ||||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
BALANCE – March 31, 2023 | ( | ( | ||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of taxes | — | — | — | — | ( | ( | ||||||||||||||||||||||||||||||||
Common stock shares issued ( | — | — | — | |||||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
BALANCE – June 30, 2023 | $ | $ | ( | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||
Dollars in thousands | Common Stock | Treasury Stock | Additional Paid-in Capital | Retained Earnings | Accumulated Other Comprehensive Loss | Total Stockholders’ Equity | ||||||||||||||||||||||||||||||||
BALANCE – January 1, 2022 | $ | $ | ( | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of taxes | — | — | — | — | ( | ( | ||||||||||||||||||||||||||||||||
Common stock shares issued ( | — | — | — | |||||||||||||||||||||||||||||||||||
Restricted stock grants ( | — | — | — | |||||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
BALANCE – March 31, 2022 | ( | ( | ||||||||||||||||||||||||||||||||||||
Net income | — | — | — | — | ||||||||||||||||||||||||||||||||||
Other comprehensive loss, net of taxes | — | — | — | — | ( | ( | ||||||||||||||||||||||||||||||||
Common stock shares issued ( | — | — | — | |||||||||||||||||||||||||||||||||||
Repurchased shares ( | — | ( | — | — | — | ( | ||||||||||||||||||||||||||||||||
Cash dividends declared ($ | — | — | — | ( | — | ( | ||||||||||||||||||||||||||||||||
BALANCE – June 30, 2022 | $ | $ | ( | $ | $ | $ | ( | $ | ||||||||||||||||||||||||||||||
Six Months Ended June 30, | ||||||||||||||
Dollars in thousands | 2023 | 2022 | ||||||||||||
CASH FLOWS FROM OPERATING ACTIVITIES | ||||||||||||||
Net income | $ | $ | ||||||||||||
Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||||||||
Gain on sales of loans originated for sale | ( | ( | ||||||||||||
Gain on sales of foreclosed assets held for resale, including writedowns | ( | |||||||||||||
Earnings on investment in bank-owned life insurance | ( | ( | ||||||||||||
Loss on sales or calls of securities | ||||||||||||||
(Gain) Loss on equity securities | ( | |||||||||||||
Restricted stock compensation expense | ||||||||||||||
Depreciation and amortization | ||||||||||||||
Provision for credit losses and provision for unfunded commitments | ||||||||||||||
Net amortization of investment securities premiums | ||||||||||||||
Decrease (Increase) in accrued interest receivable | ( | |||||||||||||
Increase (Decrease) in accrued interest payable | ( | |||||||||||||
Mortgage loans originated for sale | ( | ( | ||||||||||||
Proceeds from sales of loans originated for sale | ||||||||||||||
Decrease (Increase) in other assets | ( | |||||||||||||
(Increase) Decrease in deferred tax expense | ( | |||||||||||||
Increase in other liabilities | ||||||||||||||
Net Cash Provided by Operating Activities | ||||||||||||||
CASH FLOWS FROM INVESTING ACTIVITIES | ||||||||||||||
Proceeds from calls/maturities of investment securities held to maturity | ||||||||||||||
Proceeds from calls/maturities of investment securities available for sale | ||||||||||||||
Proceeds from sales of investment securities available for sale | ||||||||||||||
Proceeds from sales of equity securities | ||||||||||||||
Purchase of investment securities available for sale | ( | |||||||||||||
Purchase of investment securities held to maturity | ( | |||||||||||||
(Purchase) Redemption of restricted investment in bank stocks | ( | |||||||||||||
Net increase in loans | ( | ( | ||||||||||||
Acquisition of insurance agency | ( | |||||||||||||
Capital expenditures | ( | ( | ||||||||||||
Proceeds from sales of premises and equipment | ||||||||||||||
Proceeds from sales of foreclosed real estate and assets held for sale | ||||||||||||||
Net Cash Provided by (Used in) Investing Activities | ( | |||||||||||||
CASH FLOWS FROM FINANCING ACTIVITIES | ||||||||||||||
Net decrease in demand deposits | ( | ( | ||||||||||||
Net decrease in time certificates of deposits and interest bearing deposits | ( | ( | ||||||||||||
Net increase (decrease) in short-term borrowings | ( | |||||||||||||
Proceeds from long-term borrowings | ||||||||||||||
Repayments on long-term borrowings | ( | |||||||||||||
Dividends paid | ( | ( | ||||||||||||
Common stock repurchased | ( | ( | ||||||||||||
Common stock issued | ||||||||||||||
Net Cash Used in Financing Activities | ( | ( | ||||||||||||
Net Decrease in Cash and Cash Equivalents | ( | ( | ||||||||||||
CASH AND CASH EQUIVALENTS — BEGINNING | ||||||||||||||
CASH AND CASH EQUIVALENTS — ENDING | $ | $ | ||||||||||||
Supplemental disclosures of cash flow information | ||||||||||||||
Interest paid | $ | $ | ||||||||||||
Income taxes paid | $ | $ | ||||||||||||
Non-cash investing activities | ||||||||||||||
Investments transferred from available for sale to held to maturity | $ | $ | ||||||||||||
January 1, 2023 | ||||||||||||||||||||
In thousands | As Reported Under Topic 326 | Pre Topic 326 | Impact of Topic 326 Adoption | |||||||||||||||||
Allowance for Credit Losses on Loans: | ||||||||||||||||||||
Commercial and industrial | $ | ( | $ | ( | $ | |||||||||||||||
Commercial real estate | ( | ( | ( | |||||||||||||||||
Commercial real estate construction | ( | ( | ( | |||||||||||||||||
Residential mortgage | ( | ( | ( | |||||||||||||||||
Home equity lines of credit | ( | ( | ( | |||||||||||||||||
Consumer | ( | ( | ||||||||||||||||||
Unallocated | ( | |||||||||||||||||||
Allowance for credit losses on loans | $ | ( | $ | ( | $ | ( | ||||||||||||||
Assets: | ||||||||||||||||||||
Total Loans, net of allowance for credit losses | $ | $ | $ | |||||||||||||||||
Net deferred tax asset | ||||||||||||||||||||
Liabilities: | ||||||||||||||||||||
Allowance for unfunded commitments | ||||||||||||||||||||
Equity: | ||||||||||||||||||||
Retained earnings |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In thousands | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
Service cost | $ | $ | $ | $ | ||||||||||||||||||||||
Interest cost | ||||||||||||||||||||||||||
Expected return on plan assets | ( | ( | ( | ( | ||||||||||||||||||||||
Amortization of net loss | ||||||||||||||||||||||||||
Net Periodic Benefit Income | $ | ( | $ | ( | $ | ( | $ | ( |
In thousands | Unrealized Losses on Securities | Pension Liability | Accumulated Other Comprehensive Loss | |||||||||||||||||
Ending Balance — December 31, 2022 | $ | ( | $ | ( | $ | ( | ||||||||||||||
Beginning balance — January 1, 2023 | $ | ( | $ | ( | $ | ( | ||||||||||||||
Amounts reclassified from accumulated other comprehensive loss, net of tax | ||||||||||||||||||||
Unrealized loss on available for sale securities, net of tax | ( | ( | ||||||||||||||||||
Realized losses on securities, net of tax | ||||||||||||||||||||
Amortization of unrealized losses on securities transferred to held to maturity, net of tax | ||||||||||||||||||||
Amortization of pension net loss, transition liability and prior service cost, net of tax | ||||||||||||||||||||
Unrecognized pension net gain, net of tax | ||||||||||||||||||||
Net current period other comprehensive (loss) income | ( | ( | ||||||||||||||||||
Ending Balance — June 30, 2023 | $ | ( | $ | ( | $ | ( |
In thousands | Banking | Insurance | Total | |||||||||||||||||
2023 | ||||||||||||||||||||
Interest income and other income from external customers | $ | $ | $ | |||||||||||||||||
Interest expense | ||||||||||||||||||||
Depreciation and amortization expense | ||||||||||||||||||||
Income before income taxes | ||||||||||||||||||||
Total assets | ||||||||||||||||||||
Capital expenditures | ||||||||||||||||||||
2022 | ||||||||||||||||||||
Interest income and other income from external customers | $ | $ | $ | |||||||||||||||||
Interest expense | ||||||||||||||||||||
Depreciation and amortization expense | ||||||||||||||||||||
Income before income taxes | ||||||||||||||||||||
Total assets | ||||||||||||||||||||
Capital expenditures |
In thousands | Banking | Insurance | Total | |||||||||||||||||
2023 | ||||||||||||||||||||
Interest income and other income from external customers | $ | $ | $ | |||||||||||||||||
Interest expense | ||||||||||||||||||||
Depreciation and amortization expense | ||||||||||||||||||||
Income before income taxes | ||||||||||||||||||||
Total assets | ||||||||||||||||||||
Capital expenditures | ||||||||||||||||||||
2022 | ||||||||||||||||||||
Interest income and other income from external customers | $ | $ | $ | |||||||||||||||||
Interest expense | ||||||||||||||||||||
Depreciation and amortization expense | ||||||||||||||||||||
Income before income taxes | ||||||||||||||||||||
Total assets | ||||||||||||||||||||
Capital expenditures |
In thousands | Amortized Cost | Gross Unrealized Gains | Gross Unrealized Losses | Fair Value | ||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||
U.S. Government and agencies | $ | $ | $ | $ | ||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||
U.S. Government and agencies | $ | $ | $ | $ | ||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||
Amortized Cost | Gross Unrecognized Gains | Gross Unrecognized Losses | Fair Value | |||||||||||||||||||||||
SECURITIES HELD TO MATURITY | ||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||
Mortgage-backed securities | $ | $ | $ | $ | ||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||
Mortgage-backed securities | $ | $ | $ | $ | ||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||
$ | $ | $ | $ |
In thousands | Fair Value at January 1, 2023 | Purchases | Sales/reclassification | Gains | Losses on sales of securities | Fair Value at June 30, 2023 | ||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||
CRA Mutual Fund | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Canapi Ventures SBIC Fund | ||||||||||||||||||||||||||||||||||||||
Stock in other banks | ||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ |
In thousands | Fair Value at January 1, 2022 | Purchases | Sales | Gains | Losses | Fair Value at December 31, 2022 | ||||||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||
CRA Mutual Fund | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Canapi Ventures SBIC Fund | ||||||||||||||||||||||||||||||||||||||
Stock in other banks | ||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ |
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||||||||
In thousands | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | Fair Value | Unrealized Losses | ||||||||||||||||||||||||||||||||
SECURITIES AVAILABLE FOR SALE | ||||||||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||
U.S. Government and agencies | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||
U.S. Government and agencies | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||
Less than 12 Months | 12 Months or More | Total | ||||||||||||||||||||||||||||||||||||
Fair Value | Unrecognized Losses | Fair Value | Unrecognized Losses | Fair Value | Unrecognized Losses | |||||||||||||||||||||||||||||||||
SECURITIES HELD TO MATURITY | ||||||||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||
Mortgage-backed securities | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||||||||||||||
$ | $ | $ | $ | $ | $ |
Available for Sale | Held to Maturity | |||||||||||||||||||||||||
In thousands | Amortized Cost | Fair Value | Amortized Cost | Fair Value | ||||||||||||||||||||||
1 year or less | $ | $ | $ | $ | ||||||||||||||||||||||
Over 1 year through 5 years | ||||||||||||||||||||||||||
Over 5 years through 10 years | ||||||||||||||||||||||||||
Over 10 years | ||||||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||
$ | $ | $ | $ |
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||||||||||||
In thousands | 2023 | 2022 | 2023 | 2022 | ||||||||||||||||||||||
Proceeds | $ | $ | $ | $ | ||||||||||||||||||||||
Gross gains | ||||||||||||||||||||||||||
Gross losses | ||||||||||||||||||||||||||
In thousands | June 30, 2023 | December 31, 2022 | ||||||||||||
Commercial and industrial | $ | $ | ||||||||||||
Commercial real estate | ||||||||||||||
Commercial real estate construction | ||||||||||||||
Residential mortgage | ||||||||||||||
Home equity lines of credit | ||||||||||||||
Consumer | ||||||||||||||
Total Loans | $ | $ |
In thousands | June 30, 2023 | December 31, 2022 | ||||||||||||
Commercial and industrial | $ | $ | ||||||||||||
Commercial real estate | ||||||||||||||
Commercial real estate construction | ||||||||||||||
Residential mortgage | ||||||||||||||
Home equity lines of credit | ||||||||||||||
$ | $ |
In thousands | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 and Prior | Revolving | Total | ||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial and industrial | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate construction | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Residential Mortgage | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Home equity lines of credit | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Total Portfolio loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Portfolio loans | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Year-to-date gross charge-offs | $ | $ | $ | $ | $ | $ | $ | $ |
In thousands | Commercial and Industrial | Commercial Real Estate | Commercial Real Estate Construction | Residential Mortgage | Home Equity Lines of Credit | Consumer | Total | |||||||||||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Pass | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Special Mention | ||||||||||||||||||||||||||||||||||||||||||||
Substandard | ||||||||||||||||||||||||||||||||||||||||||||
Doubtful | ||||||||||||||||||||||||||||||||||||||||||||
Loss | ||||||||||||||||||||||||||||||||||||||||||||
Total Portfolio Loans | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Performing Loans | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Nonperforming Loans | ||||||||||||||||||||||||||||||||||||||||||||
Total Portfolio Loans | $ | $ | $ | $ | $ | $ | $ |
In thousands | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 and Prior | Revolving | Total | ||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial and industrial | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Commercial real estate construction | ||||||||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Residential Mortgage | ||||||||||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Home equity lines of credit | ||||||||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Consumer | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Portfolio loans | ||||||||||||||||||||||||||||||||||||||||||||||||||
Performing | ||||||||||||||||||||||||||||||||||||||||||||||||||
Nonperforming | ||||||||||||||||||||||||||||||||||||||||||||||||||
Total Portfolio loans | $ | $ | $ | $ | $ | $ | $ | $ |
In thousands | 30–59 Days Past Due | 60–89 Days Past Due | >90 Days Past Due | Total Past Due | Current | Total Loans Receivable | Loans Receivable >90 Days and Accruing | |||||||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||
Total Loans | $ | $ | $ | $ | $ | $ | $ |
In thousands | 30–59 Days Past Due | 60–89 Days Past Due | >90 Days Past Due | Total Past Due | Current | Total Loans Receivable | Loans Receivable >90 Days and Accruing | |||||||||||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||||||||||||||||||||
Commercial real estate construction | ||||||||||||||||||||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||||||||||||||||||||
Home equity lines of credit | ||||||||||||||||||||||||||||||||||||||||||||
Consumer | ||||||||||||||||||||||||||||||||||||||||||||
Total Loans | $ | $ | $ | $ | $ | $ | $ |
Individually Evaluated Loans with Allowance | Individually Evaluated Loans with No Allowance | |||||||||||||||||||||||||
In thousands | Recorded Investment | Related Allowance | Recorded Investment | Related Allowance | ||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | ||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||
Commercial real estate construction | ||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||
Home equity lines of credit | ||||||||||||||||||||||||||
$ | $ | $ | $ | |||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||
Commercial and industrial | $ | $ | $ | $ | ||||||||||||||||||||||
Commercial real estate | ||||||||||||||||||||||||||
Commercial real estate construction | ||||||||||||||||||||||||||
Residential mortgage | ||||||||||||||||||||||||||
Home equity lines of credit | ||||||||||||||||||||||||||
$ | $ | $ | $ |
June 30, 2023 | ||||||||||||||
Type of Collateral | ||||||||||||||
In thousands | Business Assets | Real Estate | ||||||||||||
Commercial and industrial | $ | $ | ||||||||||||
Commercial real estate | ||||||||||||||
Commercial real estate construction | ||||||||||||||
Residential mortgage | ||||||||||||||
Home equity lines of credit | ||||||||||||||
Consumer | ||||||||||||||
Total | $ | $ |
In thousands | Commercial and Industrial | Commercial Real Estate | Commercial Real Estate Construction | Residential Mortgage | Home Equity Lines of Credit | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||||||||||||||||
AS OF AND FOR THE PERIOD ENDED JUNE 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Credit Losses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance - April 1, 2023 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provisions (credits) | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||
Ending balance - June 30, 2023 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Beginning balance - January 1, 2023 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Impact of CECL adoption | ( | ( | ( | $ | ||||||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provisions (credits) | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||
Ending balance - June 30, 2023 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Loans Receivable | ||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
AS OF AND FOR THE PERIOD ENDED JUNE 30, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Beginning balance - April 1, 2022 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provisions (credits) | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||
Ending balance - June 30, 2022 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Beginning balance - January 1, 2022 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Charge-offs | ( | ( | ( | ( | ||||||||||||||||||||||||||||||||||||||||||||||
Recoveries | ||||||||||||||||||||||||||||||||||||||||||||||||||
Provisions (credits) | ( | ( | ( | |||||||||||||||||||||||||||||||||||||||||||||||
Ending balance - June 30, 2022 | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Loans Receivable | ||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ |
In thousands | Commercial and Industrial | Commercial Real Estate | Commercial Real Estate Construction | Residential Mortgage | Home Equity Lines of Credit | Consumer | Unallocated | Total | ||||||||||||||||||||||||||||||||||||||||||
AS OF DECEMBER 31, 2022 | ||||||||||||||||||||||||||||||||||||||||||||||||||
Allowance for Loan Losses | ||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Loans Receivable | ||||||||||||||||||||||||||||||||||||||||||||||||||
Ending balance | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: individually evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ | ||||||||||||||||||||||||||||||||||||||||||
Ending balance: collectively evaluated for impairment | $ | $ | $ | $ | $ | $ | $ | $ |
June 30, 2023 | ||||||||||||||||||||||||||||||||
In thousands | Basis | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
U.S. Government and agencies | $ | $ | $ | $ | ||||||||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||||||||
Total securities available for sale | Recurring | $ | $ | $ | $ | |||||||||||||||||||||||||||
Equity securities with readily determinable fair values | Recurring | $ | $ | $ | $ | |||||||||||||||||||||||||||
Individually evaluated loans | Nonrecurring | $ | $ | $ | $ | |||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||
In thousands | Basis | Total | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
U.S. Government and agencies | $ | $ | $ | $ | ||||||||||||||||||||||||||||
Mortgage-backed securities | ||||||||||||||||||||||||||||||||
State and municipal | ||||||||||||||||||||||||||||||||
Corporate bonds | ||||||||||||||||||||||||||||||||
Total securities available for sale | Recurring | $ | $ | $ | $ | |||||||||||||||||||||||||||
Equity securities with readily determinable fair values | Recurring | $ | $ | $ | $ | |||||||||||||||||||||||||||
Collateral dependent impaired loans | Nonrecurring | $ | $ | $ | $ |
Quantitative Information about Level 3 Fair Value Measurements | |||||||||||||||||||||||||||||||||||
Dollars in thousands | Fair Value Estimate | Valuation Technique | Unobservable Input | Range | Weighted Average | ||||||||||||||||||||||||||||||
June 30, 2023 | |||||||||||||||||||||||||||||||||||
Individually evaluated loans | $ | Appraisal of collateral | (a) | Appraisal adjustments | (b) | ( | ( | ||||||||||||||||||||||||||||
December 31, 2022 | |||||||||||||||||||||||||||||||||||
Impaired loans | $ | Appraisal of collateral | (a) | Appraisal adjustments | (b) | ( | ( |
June 30, 2023 | ||||||||||||||||||||||||||||||||
In thousands | Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Interest-bearing deposits with banks | ||||||||||||||||||||||||||||||||
Equity securities with readily determinable fair values | ||||||||||||||||||||||||||||||||
Debt securities available for sale | ||||||||||||||||||||||||||||||||
Securities held to maturity | ||||||||||||||||||||||||||||||||
Loans held for sale | ||||||||||||||||||||||||||||||||
Loans, less allowance for credit losses | ||||||||||||||||||||||||||||||||
Accrued interest receivable | ||||||||||||||||||||||||||||||||
Restricted investment in bank stocks | N/A | N/A | ||||||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Demand deposits and savings | ||||||||||||||||||||||||||||||||
Time deposits | ||||||||||||||||||||||||||||||||
Short-term sweep accounts | ||||||||||||||||||||||||||||||||
Short & long-term borrowings | ||||||||||||||||||||||||||||||||
Trust preferred and subordinated debt | ||||||||||||||||||||||||||||||||
Accrued interest payable | ||||||||||||||||||||||||||||||||
Off-balance sheet financial instruments |
December 31, 2022 | ||||||||||||||||||||||||||||||||
In thousands | Carrying Amount | Fair Value | Level 1 | Level 2 | Level 3 | |||||||||||||||||||||||||||
Financial assets: | ||||||||||||||||||||||||||||||||
Cash and due from banks | $ | $ | $ | $ | $ | |||||||||||||||||||||||||||
Interest-bearing deposits with banks | ||||||||||||||||||||||||||||||||
Equity securities with readily determinable fair values | ||||||||||||||||||||||||||||||||
Debt securities available for sale | ||||||||||||||||||||||||||||||||
Securities held to maturity | ||||||||||||||||||||||||||||||||
Loans held for sale | ||||||||||||||||||||||||||||||||
Loans, less allowance for credit losses | ||||||||||||||||||||||||||||||||
Accrued interest receivable | ||||||||||||||||||||||||||||||||
Restricted investment in bank stocks | ||||||||||||||||||||||||||||||||
Financial liabilities: | ||||||||||||||||||||||||||||||||
Demand deposits and savings | ||||||||||||||||||||||||||||||||
Time deposits | ||||||||||||||||||||||||||||||||
Short-term sweep accounts | ||||||||||||||||||||||||||||||||
Short & long-term borrowings | ||||||||||||||||||||||||||||||||
Trust preferred and subordinated debt | ||||||||||||||||||||||||||||||||
Accrued interest payable | ||||||||||||||||||||||||||||||||
Off-balance sheet financial instruments |
In thousands | June 30, 2023 | December 31, 2022 | ||||||||||||
Noninterest-bearing demand | $ | $ | ||||||||||||
Interest-bearing checking, savings, and money markets | ||||||||||||||
Certificates of deposit of $250,000 or less | ||||||||||||||
Certificates of deposit greater than $250,000 | ||||||||||||||
Total | $ | $ |
In thousands | ||||||||
3 months or less | $ | |||||||
Over 3 months through 12 months | ||||||||
Over 1 year through 3 years | ||||||||
Over 3 years | ||||||||
Total | $ |
In thousands | June 30, 2023 | December 31, 2022 | ||||||||||||
Securities sold under repurchase agreements | $ | $ | ||||||||||||
FHLB advance | ||||||||||||||
$ | $ |
In thousands | June 30, 2023 | December 31, 2022 | ||||||||||||
FHLB advances | $ | $ | ||||||||||||
Trust preferred subordinated debt | ||||||||||||||
Subordinated debt | ||||||||||||||
$ | $ |
In thousands | Six Months Ended June 30, 2023 | Year Ended December 31, 2022 | ||||||||||||
Beginning balance – January 1 | $ | 17,861 | $ | 19,033 | ||||||||||
Impact of CECL adoption | 1,618 | — | ||||||||||||
Provisions charged to operations | (176) | — | ||||||||||||
Recoveries on charged-off loans | 44 | 114 | ||||||||||||
Loans charged-off | (199) | (1,286) | ||||||||||||
Ending balance | $ | 19,148 | $ | 17,861 |
Dollars in thousands | Number of Credit Relationships | Balance | Specific Loss Allocations | Current Year Charge-Offs | Location | Originated | ||||||||||||||||||||||||||||||||
June 30, 2023 | ||||||||||||||||||||||||||||||||||||||
Owner occupied commercial real estate | 7 | $ | 1,944 | $ | 184 | $ | — | In market | 2012 - 2020 | |||||||||||||||||||||||||||||
Commercial and industrial | 3 | 744 | 647 | — | In market | 2017 - 2018 | ||||||||||||||||||||||||||||||||
Home equity line of credit | 1 | 202 | — | — | In market | 2016 | ||||||||||||||||||||||||||||||||
Total | 11 | $ | 2,890 | $ | 831 | $ | — | |||||||||||||||||||||||||||||||
December 31, 2022 | ||||||||||||||||||||||||||||||||||||||
Owner occupied commercial real estate | 5 | $ | 1,772 | $ | 192 | $ | — | In market | 2012 - 2019 | |||||||||||||||||||||||||||||
Investment/rental residential real estate | 1 | 101 | — | — | In market | 2016 | ||||||||||||||||||||||||||||||||
Commercial and industrial | 2 | 781 | 628 | — | In market | 2017 - 2018 | ||||||||||||||||||||||||||||||||
Total | 8 | $ | 2,654 | $ | 820 | $ | — |
Actual1 | For Capital Adequacy Purposes2 | To Be Well Capitalized Under Prompt Corrective Action Regulations | |||||||||||||||
June 30, 2023 | |||||||||||||||||
Tier 1 leverage ratio (to average assets) | |||||||||||||||||
ACNB Corporation | 11.79 | % | 4.00 | % | N/A | ||||||||||||
ACNB Bank | 10.93 | % | 4.00 | % | 5.00 | % | |||||||||||
Common Tier 1 capital ratio (to risk-weighted assets) | |||||||||||||||||
ACNB Corporation | 15.38 | % | 4.50 | % | N/A | ||||||||||||
ACNB Bank | 14.99 | % | 4.50 | % | 6.50 | % | |||||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | |||||||||||||||||
ACNB Corporation | 15.72 | % | 6.00 | % | N/A | ||||||||||||
ACNB Bank | 14.99 | % | 6.00 | % | 8.00 | % | |||||||||||
Total risk-based capital ratio | |||||||||||||||||
ACNB Corporation | 17.67 | % | 8.00 | % | N/A | ||||||||||||
ACNB Bank | 16.07 | % | 8.00 | % | 10.00 | % | |||||||||||
March 31, 2023 | |||||||||||||||||
Tier 1 leverage ratio (to average assets) | |||||||||||||||||
ACNB Corporation | 11.09 | % | 4.00 | % | N/A | ||||||||||||
ACNB Bank | 10.32 | % | 4.00 | % | 5.00 | % | |||||||||||
Common Tier 1 capital ratio (to risk-weighted assets) | |||||||||||||||||
ACNB Corporation | 15.21 | % | 4.50 | % | N/A | ||||||||||||
ACNB Bank | 14.84 | % | 4.50 | % | 6.50 | % | |||||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | |||||||||||||||||
ACNB Corporation | 15.56 | % | 6.00 | % | N/A | ||||||||||||
ACNB Bank | 14.84 | % | 6.00 | % | 8.00 | % | |||||||||||
Total risk-based capital ratio | |||||||||||||||||
ACNB Corporation | 17.56 | % | 8.00 | % | N/A | ||||||||||||
ACNB Bank | 15.96 | % | 8.00 | % | 10.00 | % | |||||||||||
December 31, 2022 | |||||||||||||||||
Tier 1 leverage ratio (to average assets) | |||||||||||||||||
ACNB Corporation | 9.91 | % | 4.00 | % | N/A | ||||||||||||
ACNB Bank | 9.50 | % | 4.00 | % | 5.00 | % | |||||||||||
Common Tier 1 capital ratio (to risk-weighted assets) | |||||||||||||||||
ACNB Corporation | 15.00 | % | 4.50 | % | N/A | ||||||||||||
ACNB Bank | 14.68 | % | 4.50 | % | 6.50 | % | |||||||||||
Tier 1 risk-based capital ratio (to risk-weighted assets) | |||||||||||||||||
ACNB Corporation | 15.36 | % | 6.00 | % | N/A | ||||||||||||
ACNB Bank | 14.68 | % | 6.00 | % | 8.00 | % | |||||||||||
Total risk-based capital ratio | |||||||||||||||||
ACNB Corporation | 17.32 | % | 8.00 | % | N/A | ||||||||||||
ACNB Bank | 15.76 | % | 8.00 | % | 10.00 | % |
Total number of shares purchased | Average price paid per share | Total number of shares purchased as part of publicly announced plan | Maximum number of shares that may yet be purchased under the plan | ||||||||||||||||||||
April 1 - April 30, 2023 | 0 | $ | — | 850 | 254,725 | ||||||||||||||||||
May 1 - May 31, 2023 | 0 | — | 850 | 254,725 | |||||||||||||||||||
June 1 - June 30, 2023 | 0 | — | 850 | 254,725 |
Exhibit 2.1 | ||||||||
Exhibit 2.2 | ||||||||
Exhibit 2.3 | ||||||||
Exhibit 3(i) | ||||||||
Exhibit 3(ii) | ||||||||
Exhibit 4.1 | ||||||||
Exhibit 10.1 | ||||||||
Exhibit 10.2 | ||||||||
Exhibit 10.3 | ||||||||
Exhibit 10.4 | ||||||||
Exhibit 10.5 | ||||||||
Exhibit 10.6 | ||||||||
Exhibit 10.7 | ||||||||
Exhibit 10.8 | ||||||||
Exhibit 10.9 | ||||||||
Exhibit 10.10 | ||||||||
Exhibit 10.11 | ||||||||
Exhibit 10.12 | ||||||||
Exhibit 10.13 | ||||||||
Exhibit 10.14 | ||||||||
Exhibit 10.15 | ||||||||
Exhibit 10.16 | ||||||||
Exhibit 10.17 | ||||||||
Exhibit 10.18 | ||||||||
Exhibit 10.19 | ||||||||
Exhibit 10.20 | ||||||||
Exhibit 10.21 | ||||||||
Exhibit 10.22 | ||||||||
Exhibit 10.23 | ||||||||
Exhibit 10.24 | ||||||||
Exhibit 10.25 | ||||||||
Exhibit 10.26 | ||||||||
Exhibit 10.27 | ||||||||
Exhibit 10.28 | ||||||||
Exhibit 10.29 | ||||||||
Exhibit 10.30 | ||||||||
Exhibit 18 | ||||||||
Exhibit 31.1 | ||||||||
Exhibit 31.2 | ||||||||
Exhibit 32.1 |
Exhibit 101.LAB | XBRL Taxonomy Extension Label Linkbase. | |||||||
Exhibit 101.PRE | XBRL Taxonomy Extension Presentation Linkbase. | |||||||
Exhibit 101.INS | XBRL Instance Document – The Instance Document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document. | |||||||
Exhibit 101.SCH | XBRL Taxonomy Extension Schema. | |||||||
Exhibit 101.CAL | XBRL Taxonomy Extension Calculation Linkbase. | |||||||
Exhibit 101.DEF | XBRL Taxonomy Extension Definition Linkbase. | |||||||
Exhibit 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101). |
ACNB CORPORATION (Registrant) | |||||||||||
Date: | August 4, 2023 | /s/ James P. Helt | |||||||||
James P. Helt | |||||||||||
President & Chief Executive Officer | |||||||||||
/s/ Jason H. Weber | |||||||||||
Jason H. Weber | |||||||||||
Executive Vice President/Treasurer & | |||||||||||
Chief Financial Officer (Principal Financial Officer) |
Date: | August 4, 2023 | By: | /s/ James P. Helt | |||||||||||
James P. Helt | ||||||||||||||
President & Chief Executive Officer |
Date: | August 4, 2023 | By: | /s/ Jason H. Weber | |||||||||||
Jason H. Weber | ||||||||||||||
Executive Vice President/Treasurer & Chief Financial Officer (Principal Financial Officer) |
By: | /s/ James P. Helt | |||||||||||||
James P. Helt | ||||||||||||||
President & Chief Executive Officer | ||||||||||||||
Date: | August 4, 2023 |
By: | /s/ Jason H, Weber | |||||||||||||
Jason H. Weber | ||||||||||||||
Executive Vice President/Treasurer & Chief Financial Officer (Principal Financial Officer) | ||||||||||||||
Date: | August 4, 2023 |
CONSOLIDATED STATEMENTS OF CONDITION (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Statement of Financial Position [Abstract] | ||
Securities held to maturity, fair value | $ 58,133 | $ 58,078 |
Allowance for credit losses on loans | $ 19,148 | $ 17,861 |
Preferred stock, par value (in dollars per share) | $ 2.50 | $ 2.50 |
Preferred stock, shares authorized | 20,000,000 | 20,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
Common stock, par value (in dollars per share) | $ 2.50 | $ 2.50 |
Common stock, shares authorized | 20,000,000 | 20,000,000 |
Common stock, shares issued | 8,888,732 | 8,838,720 |
Common stock, shares outstanding | 8,564,282 | 8,515,120 |
Treasury stock, shares | 324,450 | 323,600 |
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|||||||||
Statement of Comprehensive Income [Abstract] | ||||||||||||
NET INCOME | $ 9,524 | $ 8,630 | $ 18,547 | $ 15,229 | ||||||||
SECURITIES | ||||||||||||
Unrealized losses arising during the period, net of income taxes of $(2,077), $(3,630), $(1,442) and $(9,758), respectively | (6,891) | (12,701) | (1,255) | (34,139) | ||||||||
Reclassification adjustment for net losses included in net income, net of income taxes of $138, $0, $172 and $0, respectively (A) (C) | [1],[2] | 410 | 0 | 556 | 0 | |||||||
Total unrealized loss on investment securities | (6,481) | (12,701) | (699) | (34,139) | ||||||||
Amortization of unrealized losses on securities previously transferred to held to maturity, net of income taxes of $13, $0, $78, and $0, respectively (D) | [3] | 265 | 0 | 487 | 0 | |||||||
Total amortization of unrealized losses on investment securities | 265 | 0 | 487 | 0 | ||||||||
PENSION | ||||||||||||
Amortization of pension net loss, transition liability, and prior service cost, net of income taxes of $(26), $22, $24 and $45, respectively (B) (C) | [2],[4] | 124 | 79 | 172 | 158 | |||||||
Unrecognized net loss, net of income taxes of $0, $0, $0 and $0, respectively (C) | [2] | 0 | 0 | 0 | 0 | |||||||
Total unrealized loss on pension | 124 | 79 | 172 | 158 | ||||||||
TOTAL OTHER COMPREHENSIVE LOSS | (6,092) | (12,622) | (40) | (33,981) | ||||||||
TOTAL COMPREHENSIVE INCOME (LOSS) | $ 3,432 | $ (3,992) | $ 18,507 | $ (18,752) | ||||||||
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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) (Parenthetical) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Statement of Comprehensive Income [Abstract] | ||||
SECURITIES: Unrealized (losses) gains arising during the period, income taxes | $ (2,077) | $ (3,630) | $ (1,442) | $ (9,758) |
SECURITIES: Reclassification adjustment for gains included in net income, income taxes | 138 | 0 | 172 | 0 |
SECURITIES: Amortization of unrealized losses on securities transferred to held to maturity, income taxes | (13) | 0 | (78) | 0 |
PENSION: Amortization of pension net loss, transition liability, and prior service cost, income taxes | (26) | 22 | 24 | 45 |
PENSION: Unrecognized net loss, income tax | $ 0 | $ 0 | $ 0 | $ 0 |
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (UNAUDITED) (Parenthetical) - $ / shares |
3 Months Ended | |||
---|---|---|---|---|
Jun. 30, 2023 |
Mar. 31, 2023 |
Jun. 30, 2022 |
Mar. 31, 2022 |
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Statement of Stockholders' Equity [Abstract] | ||||
Common stock shares issued (in shares) | 5,526 | 5,889 | 5,532 | 5,587 |
Common stock shares repurchased (in shares) | 850 | 88,225 | ||
Restricted stock grants (in shares) | 43,074 | 21,935 | ||
Cash dividends declared (in dollars per share) | $ 0.28 | $ 0.28 | $ 0.26 | $ 0.26 |
Basis of Presentation and Nature of Operations |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis of Presentation and Nature of Operations | Basis of Presentation and Nature of Operations ACNB Corporation (the Corporation or ACNB), headquartered in Gettysburg, Pennsylvania, provides banking, insurance, and financial services to businesses and consumers through its wholly-owned subsidiaries, ACNB Bank (Bank) and ACNB Insurance Services, Inc. The Bank engages in full-service commercial and consumer banking and wealth management services, including trust and retail brokerage, through its twenty-six community banking offices, including seventeen community banking office locations in Adams, Cumberland, Franklin and York Counties, Pennsylvania, and nine community banking office locations in Carroll and Frederick Counties, Maryland. There are also loan production offices situated in Lancaster and York, Pennsylvania, and Hunt Valley, Maryland. ACNB Insurance Services, Inc. is a full-service insurance agency based in Westminster, Maryland, with additional locations in Jarrettsville, Maryland, and Gettysburg, Pennsylvania. The agency offers a broad range of property, casualty, health, life and disability insurance to both individual and commercial clients. The Corporation’s primary sources of revenue are interest income on loans and investment securities and fee income on its products and services. Expenses consist of interest expense on deposits and borrowed funds, provisions for credit losses, and other operating expenses. The accompanying unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. In the opinion of management, the accompanying unaudited consolidated financial statements contain all adjustments necessary to present fairly ACNB Corporation’s balance sheet and statement of income, comprehensive (loss) income, changes in stockholders’ equity, and cash flows. All such adjustments are of a normal recurring nature. The accounting policies followed by the Corporation are set forth in Note A to the Corporation’s consolidated financial statements in the 2022 ACNB Corporation Annual Report on Form 10-K, filed with the SEC on March 3, 2023. It is suggested that the consolidated financial statements contained herein be read in conjunction with the consolidated financial statements and notes included in the Corporation’s Annual Report on Form 10-K. The results of operations for the three and six month periods ended June 30, 2023, are not necessarily indicative of the results to be expected for the full year. Certain reclassifications have been made to the prior period financial statements to conform to the current period presentation. Reclassifications had no material effect on prior year net income or stockholders’ equity. The Corporation has evaluated events and transactions occurring subsequent to the balance sheet date of June 30, 2023, for items that should potentially be recognized or disclosed in the consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. Newly adopted pronouncements in 2023: In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, universally referred to as Current Expected Credit Loss (CECL). The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today are still permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on available-for-sale debt securities and purchased financial assets with credit deterioration. For smaller reporting companies, such as the Corporation, this standard (Topic 326) was effective as of January 1, 2023. The Bank’s CECL Committee, which includes members from Credit Administration, Accounting/Finance, Risk Management and Internal Audit, has oversight by the Chief Executive Officer, Chief Financial Officer, and Chief Credit Officer. The Bank engaged a third-party to assist in developing the CECL model and to assist with evaluation of data and methodologies related to this standard. As part of its process of adopting CECL, management implemented a third party software solution and determined appropriate loan segments, methodologies, model assumptions and qualitative components. The Bank’s CECL model includes portfolio loan segmentation based upon similar risk characteristics and both a quantitative and qualitative component of the calculation which incorporates a forecasting component of certain economic variables. The Bank’s implementation plan also includes the assessment and documentation of appropriate processes, policies and internal controls. Management had a third party independent consultant review and validate the CECL model. In addition, Topic 326 amends the accounting for credit losses on certain debt securities. The Corporation did not record any allowance for credit losses on its debt securities as a result of adopting Topic 326. The ultimate impact of adopting Topic 326, and at each subsequent reporting period, is highly dependent on credit quality, macroeconomic forecasts and conditions, composition of the loans and securities portfolio, along with other management judgments. The Corporation adopted Topic 326 using the modified retrospective method. Results for reporting periods beginning after January 1, 2023 are presented under Topic 326 while prior period amounts continue to be reported in accordance with previously applicable GAAP. In connection with the adoption of Topic 326, the Corporation made changes to the loan portfolio segments to align with the methodology applied in determining the allowance under CECL. Refer to Note 8 — “Loans and Allowance for Credit Losses” in the Notes to Consolidated Financial Statements for further discussion of these portfolio segments. The adoption of Topic 326 resulted in a Day 1 adjustment of $3.3 million, including an increase to the allowance for credit losses (ACL) of $1.6 million and a $1.6 million reserve on unfunded loan commitments recorded in the liabilities section on the Consolidated Statements of Condition on January 1, 2023. As of January 1, 2023, the Corporation recorded a cumulative effect adjustment of $2.4 million to decrease retained earnings related to the adoption of Topic 326. Upon CECL adoption the Corporation elected to implement the regulatory agencies’ capital transition relief over the permissible three-year period. The following table illustrates the impact of Topic 326:
The ACL represents an amount which, in management’s judgment, is adequate to absorb expected losses on outstanding loans at the balance sheet date based on the evaluation of the size and current risk characteristics of the loan portfolio, past events, current conditions, reasonable and supportable forecasts of future economic conditions and prepayment experience. The ACL is measured and recorded upon the initial recognition of a financial asset. The ACL is reduced by charge-offs, net of recoveries of previous losses, and is increased or decreased by a provision for credit losses, which is recorded as a current period operating expense. Determination of an appropriate ACL is inherently complex and requires the use of significant and highly subjective estimates. The reasonableness of the ACL is reviewed quarterly by management. Management believes it uses relevant information available to make determinations about the ACL and that it has established the existing allowance in accordance with GAAP. However, the determination of the ACL requires significant judgment, and estimates of expected losses in the loan portfolio can vary significantly from the amounts actually observed. While management uses available information to recognize expected losses, future additions to the ACL may be necessary based on changes in the loans comprising the portfolio, changes in the current and forecasted economic conditions, changes to the interest rate environment which may directly impact prepayment and curtailment rate assumptions, and changes in the financial condition of borrowers. The adoption of CECL accounting did not result in a significant change to any other credit risk management and monitoring processes, including identification of past due or delinquent borrowers, nonaccrual practices or charge-off policy. The Corporation’s methodology for estimating the ACL includes: Segmentation. The Corporation’s loan portfolio is segmented by loan types that have similar risk characteristics and behave similarly during economic cycles. Specific Analysis. A specific reserve analysis is applied to certain individually evaluated loans. These loans are evaluated quarterly generally based on collateral value, observable market value or the present value of expected future cash flows. A specific reserve is established if the fair value is less than the loan balance. A charge-off is recognized when the loss is quantifiable. Individually evaluated loans not specifically analyzed reside in the Quantitative Analysis. Quantitative Analysis. The Corporation elected to use Discounted Cash Flow (DCF) and chose unemployment rate as the driving factor of their economic forecasts. In regards to unemployment rates, the Corporation elected to forecast economic factors over the period of the next four quarters. The Corporation chose not to extend beyond four quarters given the inherent risks associated with forecasting. The Corporation utilizes relevant 3rd party forecasts as a basis and support for its own forecast. These forecasts are assumed to revert to the long-term average and utilized in the model to estimate the probability of default and loss given default through regression. The Corporation elected a reversion period of four quarters. The Corporation deemed four quarters to be a reasonable time period to ensure it did not include irrelevant information, but also not too short to introduce unnecessary volatility. Model assumptions include, but are not limited to the discount rate, prepayment speeds, funding rates, and curtailments. The product of the probability of default and the loss given default is the estimated loss rate, which varies over time. The estimated loss rate is applied within the appropriate periods in the cash flow model to determine the net present value. Net present value is also impacted by assumptions related to the duration between default and recovery. The reserve is based on the difference between the summation of the principal balances taking amortized costs into consideration and the summation of the net present values. Qualitative Analysis. Based on management’s review and analysis of internal, external and model risks, management may adjust the model output. Management reviews the peaks and troughs of the model’s calibration, taking into account economic forecasts to develop guardrails that serve as the basis for determining the reasonableness of the model’s output and makes adjustments as necessary. This process challenges unexpected variability resulting from outputs beyond the model’s calibration that appear to be unreasonable. Additionally, management may adjust the economic forecast if it is incompatible with known market conditions based on management’s experience and perspective. The current expected losses of $1.6 million were recorded due to the adoption of CECL, which now incorporates the concept of lifetime losses. Between the Day 1 CECL model and the model ended June 30, 2023, a reduction in the current expected losses of $176,000 was recognized, which resulted in a total current expected loss balance of $19.1 million as of June 30, 2023. Included in the allowance for unfunded commitments in the first quarter of 2023, was $1.6 million recorded upon Day 1 CECL adoption. Between the Day 1 CECL model and the model ended June 30, 2023, an additional $397,000 of provision was recognized, which resulted in a total allowance for unfunded commitments of $2.1 million at June 30, 2023. In March 2022, the FASB issued ASU 2022-02, “Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures.” ASU 2022-02 made certain targeted amendments specific to troubled debt restructurings (TDRs) by creditors and vintage disclosure related to gross write-offs. Upon adoption, the Corporation is required to apply the loan and refinancing and restructuring guidance to determine whether a modification results in a new loan or a continuation of an existing loan, rather than applying the recognition and measurement guidance for TDRs. The ASU also requires companies to disclose current-period gross write-offs by year of origination for financing receivables and net investment in leases within scope of Subtopic 326-20. ASU 2022-02 is effective March 31, 2023, for entities that have adopted ASU 2016-13, otherwise effective date is the same as ASU 2016-13. The Corporation adopted ASU 2016-13 on January 1, 2023 and simultaneously implemented ASU 2022-02.
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Earnings Per Share and Restricted Stock |
6 Months Ended |
---|---|
Jun. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings Per Share and Restricted Stock | Earnings Per Share and Restricted Stock The Corporation has a simple capital structure. Basic earnings per share of common stock is computed based on 8,517,741 and 8,695,133 weighted average shares of common stock outstanding for the six months ended June 30, 2023 and 2022, respectively, and 8,512,145 and 8,705,994 for the three months ended June 30, 2023 and 2022, respectively. Diluted earnings per share of common stock is computed based on 8,541,423 and 8,695,133 weighted average shares of common stock outstanding for the six months ended June 30, 2023 and 2022, respectively, and 8,523,877 and 8,705,994 for the three months ended June 30, 2023 and 2022, respectively. At June 30, 2023 the Corporation had 35,500 unvested shares. The ACNB Corporation 2009 Restricted Stock Plan expired by its own terms after 10 years on February 24, 2019. No further shares may be issued under this plan. Of the 200,000 shares of common stock authorized under this plan, 25,945 shares were issued. The remaining 174,055 shares were transferred to the ACNB Corporation 2018 Omnibus Stock Incentive Plan. On May 1, 2018, shareholders approved and ratified the ACNB Corporation 2018 Omnibus Stock Incentive Plan, effective as of March 20, 2018, in which awards shall not exceed, in the aggregate, 400,000 shares of common stock, plus any shares that are authorized, but not issued, under the ACNB Corporation 2009 Restricted Stock Plan. As of June 30, 2023, 100,746 shares were issued under this plan, of which 65,246 were fully vested, none vested during the quarter, and the remaining 35,500 will vest over the next two years. The maximum number of shares that may yet be granted under this plan is 473,309. Plan expense is recognized over the vesting period of the stock issued under both plans. $254,000 and $116,000 of compensation expenses related to the grants were recognized during the three months ended June 30, 2023 and 2022, respectively. $748,000 and $358,000 of compensation expenses related to the grants were recognized during the six months ended June 30, 2023 and 2022, respectively.
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Retirement Benefits |
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Postemployment Benefits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Retirement Benefits | Retirement Benefits The components of net periodic benefit income related to the non-contributory, defined benefit pension plan for the three and six month periods ended June 30 were as follows:
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Guarantees |
6 Months Ended |
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Jun. 30, 2023 | |
Guarantees [Abstract] | |
Guarantees | Guarantees The Corporation does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Standby letters of credit are written conditional commitments issued by the Corporation to guarantee the performance of a customer to a third party. Generally, all letters of credit, when issued, have expiration dates within one year. The credit risk involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Corporation generally holds collateral and/or personal guarantees supporting these commitments. The Corporation had $17,997,000 in standby letters of credit as of June 30, 2023. Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. The current amount of the liability, as of June 30, 2023, for guarantees under standby letters of credit issued is not material.
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Accumulated Other Comprehensive Loss |
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Stockholders' Equity Note [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accumulated Other Comprehensive Loss | Accumulated Other Comprehensive Loss The components of accumulated other comprehensive loss, net of taxes, are as follows:
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Segment Reporting |
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting | Segment Reporting The Corporation has two reporting segments, the Bank and ACNB Insurance Services, Inc. ACNB Insurance Services, Inc., is managed separately from the banking segment, which includes the Bank and related financial services that the Corporation offers through its banking subsidiary. ACNB Insurance Services, Inc., offers a broad range of property and casualty, life, and health insurance to both commercial and individual clients. Segment information for the six month periods ended June 30, 2023 and 2022, is as follows:
Segment information for the three month periods ended June 30, 2023 and 2022, is as follows:
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Securities |
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Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Securities | Securities Amortized cost and fair value of securities at June 30, 2023, and December 31, 2022, were as follows:
Fair value of equity securities with readily determinable fair values at June 30, 2023 and December 31, 2022, are as follows:
The following table shows the Corporation’s investments’ gross unrealized and unrecognized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2023, and December 31, 2022:
All mortgage-backed security investments are government sponsored enterprise (GSE) pass-through instruments issued by the Federal National Mortgage Association (FNMA), Government National Mortgage Association (GNMA) or Federal Home Loan Mortgage Corporation (FHLMC), which guarantee the timely payment of principal on these investments. The Corporation adopted ASU 2016-13, “Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” on January 1, 2023 and did not record an allowance for credit losses on its investment securities during the quarter ended June 30, 2023. The Corporation regularly reviews debt securities for expected credit loss using both qualitative and quantitative criteria, as necessary, based on the composition of the portfolio at period end. Management sells securities from its available for sale portfolio in an effort to manage and allocate the portfolio. Amortized cost and fair value at June 30, 2023, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties. Securities not due at a single maturity date are shown separately.
The proceeds from sales of securities and the associated gains and losses are listed below:
At June 30, 2023, and December 31, 2022, securities with a carrying value of $247,854,000 and $342,180,000, respectively, were pledged as collateral as required by law on public and trust deposits, repurchase agreements, and for other purposes.
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Loans and Allowance for Credit Losses |
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Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Loans and Allowance for Credit Losses | Loans and Allowance for Credit Losses The following table presents the composition of the loan portfolio as of June 30, 2023, and December 31, 2022:
The following table presents nonaccrual loans as of June 30, 2023, and December 31, 2022:
Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process at June 30, 2023 and December 31, 2022, totaled $569,000 and $1,101,000, respectively. No additional funds are committed to be advanced in connection with individually evaluated loans. Loan Modifications On January 1, 2023, the Corporation adopted the accounting guidance in ASU 2022-02, which eliminates the recognition and measurement of troubled debt restructurings (TDRs). Due to the removal of the TDR designation, the Corporation evaluates all loan restructurings according to the accounting guidance for loan modifications to determine if the restructuring results in a new loan or a continuation of the existing loan. Loan modifications to borrowers experiencing financial difficulty that result in a direct change in the timing or amount of contractual cash flows include situations where there is principal forgiveness, interest rate reductions, other-than-insignificant payment delays, term extensions, and combinations of the above. Therefore, the disclosures related to loan restructurings are only for modifications that directly affect cash flows. As of June 30, 2023, the Corporation had no modified loans or any commitments to lend any additional funds on modified loans. As of June 30, 2023, the Corporation had no loans that defaulted during the period and had been modified preceding the payment default when the borrower was experiencing financial difficulty at the time of modification. For purposes of this disclosure, a default occurs when, within 12 months of the original modification, either a full or partial charge-off occurs or the loan becomes 90 days or more past due. Allowance for credit losses In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments”, universally referred to as Current Expected Credit Loss (CECL). The amendments in this ASU, among other things, require the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Financial institutions and other organizations will now use forward-looking information to better inform their credit loss estimates. Many of the loss estimation techniques applied today are still permitted, although the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, the ASU amends the accounting for credit losses on debt securities and purchased financial assets with credit deterioration. For smaller reporting companies, such as the Corporation, this standard (Topic 326) was effective as of January 1, 2023. The Corporation maintains an allowance for credit losses (ACL) at a level determined to be adequate to absorb expected credit losses associated with the Corporation’s financial instruments over the life of those instruments as of the balance sheet date. The Corporation develops and documents a systematic ACL methodology based on the following portfolio segments: 1) Commercial and Industrial, 2) Commercial Real Estate, 3) Commercial Real Estate Construction, 4) Residential Mortgage, and 5) Home Equity Lines of Credit. The Corporation’s loan portfolio is segmented by loan types that have similar risk characteristics and behave similarly during economic cycles. The segmentation in the CECL model is different from the segmentation in the Incurred Loss Model, however there was minimal impact on the presentation of the financial statement disclosures. The following is a discussion of the key risks by portfolio segment that management assesses in preparing the ACL. Commercial and Industrial Lending — The Corporation originates commercial and industrial loans primarily to businesses located in its primary market area and surrounding areas. These loans are used for various business purposes which include short-term loans and lines of credit to finance machinery and equipment purchases, inventory, and accounts receivable. Generally, the maximum term for loans extended on machinery and equipment is based on the projected useful life of such machinery and equipment. Most business lines of credit are written on demand and may be renewed annually. Commercial and industrial loans are generally secured with short-term assets; however, in many cases, additional collateral such as real estate is provided as additional security for the loan. Loan-to-value maximum values have been established by the Corporation and are specific to the type of collateral. Collateral values may be determined using invoices, inventory reports, accounts receivable aging reports, collateral appraisals, etc. In underwriting commercial and industrial loans, an analysis is performed to evaluate the borrower’s character and capacity to repay the loan, the adequacy of the borrower’s capital and collateral, as well as the conditions affecting the borrower. Evaluation of the borrower’s past, present and future cash flows is also an important aspect of the Corporation’s analysis. Commercial loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions. Commercial Real Estate Lending — The Corporation engages in commercial real estate lending in its primary market area and surrounding areas. The Corporation’s commercial loan portfolio is secured primarily by commercial retail space, office buildings, and hotels. Generally, commercial real estate loans have terms that do not exceed 20 years, have loan-to-value ratios of up to 80% of the appraised value of the property, and are typically secured by personal guarantees of the borrowers. In underwriting these loans, the Corporation performs a thorough analysis of the financial condition of the borrower, the borrower’s credit history, and the reliability and predictability of the cash flow generated by the property securing the loan. Appraisals on properties securing commercial real estate loans originated by the Corporation are performed by independent appraisers. Commercial real estate loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions and the complexities involved in valuing the underlying collateral. Commercial Real Estate Construction Lending — The Corporation engages in commercial real estate construction lending in its primary market area and surrounding areas. The Corporation’s commercial real estate construction lending consists of commercial and residential site development loans, as well as commercial building construction and residential housing construction loans. The Corporation’s commercial real estate construction loans are generally secured with the subject property. Terms of construction loans depend on the specifics of the project, such as estimated absorption rates, estimated time to complete, etc. In underwriting commercial real estate construction loans, the Corporation performs a thorough analysis of the financial condition of the borrower, the borrower’s credit history, and the reliability and predictability of the cash flow generated by the project using feasibility studies, market data, etc. Appraisals on properties securing commercial real estate construction loans originated by the Corporation are performed by independent appraisers. Commercial real estate construction loans generally present a higher level of risk than other types of loans due primarily to the effect of general economic conditions and the uncertainties surrounding total construction costs. Residential Mortgage Lending — One-to-four family residential mortgage loan originations, including home equity closed-end loans, are generated by the Corporation’s marketing efforts, its present customers, walk-in customers, and referrals. These loans originate primarily within the Corporation’s market area or with customers primarily from the market area. The Corporation offers fixed-rate and adjustable-rate mortgage loans with terms up to a maximum of 30 years for both permanent structures and those under construction. The Corporation’s one-to-four family residential mortgage originations are secured primarily by properties located in its primary market area and surrounding areas. The majority of the Corporation’s residential mortgage loans originate with a loan-to-value of 80% or less. Loans in excess of 80% are required to have private mortgage insurance. In underwriting one-to-four family residential real estate loans, the Corporation evaluates both the borrower’s financial ability to repay the loan as agreed and the value of the property securing the loan. Properties securing real estate loans made by the Corporation are appraised by independent appraisers. The Corporation generally requires borrowers to obtain an attorney’s title opinion or title insurance, as well as fire and property insurance (including flood insurance, if necessary) in an amount not less than the amount of the loan. The Corporation has not engaged in subprime residential mortgage originations. Residential mortgage loans are subject to risk due primarily to general economic conditions, as well as periods of weak housing markets. Home Equity Lines of Credit Lending — The Corporation originates home equity lines of credit primarily within the Corporation’s market area or with customers primarily from the market area. Home equity lines of credit are generated by the Corporation’s marketing efforts, its present customers, walk-in customers, and referrals. Home equity lines of credit are secured by the borrower’s primary residence with a maximum loan-to-value of 90% and a maximum term of 20 years. In underwriting home equity lines of credit, the Corporation evaluates both the value of the property securing the loan and the borrower’s financial ability to repay the loan as agreed. The ability to repay is determined by the borrower’s employment history, current financial condition, and credit background. Home equity lines of credit generally present a moderate level of risk due primarily to general economic conditions, as well as periods of weak housing markets. Junior liens inherently have more credit risk by virtue of the fact that another financial institution may have a higher security position in the case of foreclosure liquidation of collateral to extinguish the debt. Generally, foreclosure actions could become more prevalent if the real estate markets are weak and property values deteriorate. Consumer Lending — The Corporation offers a variety of secured and unsecured consumer loans, including those for vehicles and mobile homes and loans secured by savings deposits. These loans originate primarily within the Corporation’s market area or with customers primarily from the market area. Consumer loan terms vary according to the type and value of collateral and the creditworthiness of the borrower. In underwriting consumer loans, a thorough analysis of the borrower’s financial ability to repay the loan as agreed is performed. The ability to repay is determined by the borrower’s employment history, current financial condition, and credit background. Consumer loans may entail greater credit risk than residential mortgage loans or home equity lines of credit, particularly in the case of consumer loans which are unsecured or are secured by rapidly depreciable assets such as automobiles or recreational equipment. In such cases, any repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment of the outstanding loan balance as a result of the greater likelihood of damage, loss or depreciation. In addition, consumer loan collections are dependent on the borrower’s continuing financial stability, and thus are more likely to be affected by adverse personal circumstances. Furthermore, the application of various federal and state laws, including bankruptcy and insolvency laws, may limit the amount which can be recovered on such loans. Credit Quality Indicators: The Corporation’s portfolio grading analysis estimates the capability of the borrower to repay the contractual obligations of the loan agreements as scheduled or at all. The Corporation’s internal credit risk grading system is based on debt service coverage, collateral values and other subjective factors. Mortgage and consumer loans are defaulted to a pass grade until a loan migrates to past due status. Special Mention – Considered “Other Assets Especially Mentioned”, these loans are currently protected, but are potentially weak. Loans in this rating category constitute an undue and unwarranted credit risk, but not to the point of justifying a classification of substandard. The credit risk may be relatively minor, yet constitutes an unwarranted risk in light of the circumstances surrounding a specific loan. Substandard – Loans in this category are inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the Bank will sustain some loss if the deficiencies are not corrected. Loss potential, while existing in the aggregate amount of substandard assets, does not have to exist in individual loans classified as substandard. Doubtful – Loans in this category have all the weaknesses inherent in one classified substandard with the added characteristic that the weaknesses make collection or liquidation in full, on the basis of currently existing facts, conditions and values, highly questionable and improbable. The possibility of loss is extremely high, but because of certain important and reasonable specific pending factors which may work to strengthen the credit, its classification as an estimated loss is deferred until its more exact status may be determined. Pending factors include proposed merger, acquisition, or liquidation procedures, capital injection, perfecting liens on additional collateral, and refinancing plans. Loans not meeting the criteria above that are analyzed individually as part of the above described process are considered to be pass-related loans. The following table presents loan balances by year of origination and internally assigned risk rating for ACNB’s portfolio segments as of June 30, 2023:
The following table presents the recorded investment in loan classes by internally assigned risk ratings and loan classes by performing and nonperforming status as of December 31, 2022:
The following table presents loan balances by year of origination and performing and nonperforming status for ACNB’s portfolio segments as of June 30, 2023:
The following tables present the classes of the loan portfolio summarized by the past due status as of June 30, 2023, and December 31, 2022:
The following table summarizes information relative to individually evaluated loans by loan portfolio class as of June 30, 2023 and December 31, 2022:
A loan is considered individually evaluated when it is transferred to nonaccrual status. During the three and six months ended June 30, 2023, no material amount of interest income was recognized on individually evaluated loans subsequent to their classification as individually evaluated loans. The adoption of Topic 326 resulted in certain acquired and purchase credit impaired loans being added to the individually evaluated loan category and a prior troubled debt restructured loan was moved to performing status due to loan repayment history. The following table presents the amortized cost basis of individually evaluated loans as of June 30, 2023. Changes in the fair value of the collateral for individually evaluated loans are reported as provision for credit losses or a reversal of provision for credit losses in the period of change.
The following tables summarize the allowance for credit losses and allowance for loan losses and recorded investment in loans receivable:
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Fair Value Measurements |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fair Value Measurements | Fair Value Measurements Management uses its best judgment in estimating the fair value of the Corporation’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Corporation could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective reporting dates and have not been reevaluated or updated for purposes of these consolidated financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period end. Fair value measurement and disclosure guidance defines fair value as the price that would be received to sell the asset or transfer the liability in an orderly transaction (that is, not a forced liquidation or distressed sale) between market participants at the measurement date under current market conditions. Fair value measurement and disclosure guidance provides a list of factors that a reporting entity should evaluate to determine whether there has been a significant decrease in the volume and level of activity for the asset or liability in relation to normal market activity for the asset or liability. When the reporting entity concludes there has been a significant decrease in the volume and level of activity for the asset or liability, further analysis of the information from that market is needed and significant adjustments to the related prices may be necessary to estimate fair value in accordance with fair value measurement and disclosure guidance. This guidance further clarifies that when there has been a significant decrease in the volume and level of activity for the asset or liability, some transactions may not be orderly. In those situations, the entity must evaluate the weight of the evidence to determine whether the transaction is orderly. The guidance provides a list of circumstances that may indicate that a transaction is not orderly. A transaction price that is not associated with an orderly transaction is given little, if any, weight when estimating fair value. Fair value measurement and disclosure guidance establishes a fair value hierarchy that prioritizes the inputs to valuation methods used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). The three levels of the fair value hierarchy are as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities. Level 2: Quoted prices in markets that are not active, or inputs that are observable, either directly or indirectly, for substantially the full term of the asset or liability. Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported with little or no market activity). An asset or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. For assets measured at fair value, the fair value measurements by level within the fair value hierarchy, and the basis of measurement used at June 30, 2023, and December 31, 2022, are as follows:
The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value:
(a) Fair value is generally determined through management’s estimate or independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable. (b) Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received, and/or age of the appraisal. The following information should not be interpreted as an estimate of the fair value of the entire Corporation since a fair value calculation is only provided for a limited portion of the Corporation’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Corporation’s disclosures and those of other companies may not be meaningful. The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments as of June 30, 2023:
The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments as of December 31, 2022:
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Deposits |
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Deposits [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits | Deposits The following table presents the composition of deposits at the dates presented:
All deposit accounts are insured by the FDIC up to the maximum amount allowed by law. The Dodd-Frank Act, signed into law on July 21, 2010, makes permanent the $250,000 limit for federal deposit insurance and the coverage limit applies per depositor, per insured depository institution for each account ownership. Certificates of deposit maturing as of June 30, 2023 are as follows:
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Borrowings |
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Debt Disclosure [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Borrowings | Borrowings The Corporation had short-term debt outstanding as follows:
Borrowings with original maturities of one year or less are classified as short-term. Securities sold under repurchase agreements are comprised of customer repurchase agreements, which are sweep accounts with next-day maturities utilized by larger commercial customers to earn interest on their funds. Securities are pledged to these customers in an amount at least equal to the outstanding balance. The short-term FHLB advance matures in 2023 with a fixed interest rate of 5.63%. The Corporation had long-term debt outstanding as follows:
The long-term FHLB advances mature between 2027 and 2028 and have a weighted average rate of 4.40%, with a prepayment penalty. The advances are collateralized by the assets defined in the security agreement and FHLB capital stock. Based on this collateral and ACNB’s holding of FHLB stock, ACNB is eligible to borrow up to $813,925,000, of which $728,692,000 is available at June 30, 2023. The trust preferred subordinated debt is comprised of debt securities issued by Frederick County Bancorp, Inc. (FCBI) in December 2006 and assumed by ACNB Corporation through the acquisition. FCBI completed the private placement of an aggregate of $6,000,000 of trust preferred securities. The interest rate on the subordinated debentures is currently adjusted quarterly to 163 basis points over three-month LIBOR. The debenture has a provision for when LIBOR is no longer available. On June 15, 2023, the most recent interest rate reset date, the interest rate was adjusted to 7.18% for the period ending September 14, 2023. The trust preferred securities mature on December 15, 2036, and may be redeemed at par, at the Corporation’s option, on any interest payment date. The proceeds were transferred to FCBI as trust preferred subordinated debt under the same terms and conditions. The Corporation then contributed the full amount to the Bank in the form of Tier 1 capital. The Corporation has, through various contractual agreements, fully and unconditionally guaranteed all of the trust obligations with respect to the capital securities. On March 30, 2021, ACNB Corporation (the Company) entered into Subordinated Note Purchase Agreements (Purchase Agreements) with certain institutional accredited investors and qualified institutional buyers (the Purchasers) pursuant to which the Company sold and issued $15.0 million in aggregate principal amount of its 4.00% fixed-to-floating rate subordinated notes due March 31, 2031 (the Notes). The Notes will bear interest at a fixed rate of 4.00% per year, from and including March 30, 2021 to, but excluding, March 31, 2026 or earlier redemption date. From and including March 31, 2026 to, but excluding the maturity date or earlier redemption date, the interest rate will reset quarterly at a variable rate equal to the then current 90-day average Secured Overnight Financing Rate (SOFR) plus 329 basis points. As provided in the Notes, the interest rate on the Notes during the applicable floating rate period may be determined based on a rate other than the 90-day average SOFR. The Notes were issued by the Company to the Purchasers at a price equal to 100% of their face amount. The Company used the net proceeds it received from the sale of the Notes to retire outstanding debt of the Company, repurchase issued and outstanding shares of the Company, support general corporate purposes, underwrite growth opportunities, create an interest reserve for the Notes, and downstream proceeds to ACNB Bank (the Bank), to be used by the Bank to continue to meet regulatory capital requirements, increase the regulatory lending ability of the Bank, and support the Bank’s organic growth initiatives. The Notes have a stated maturity of March 31, 2031, are redeemable by the Company at its option, in whole or in part, on or after March 30, 2026, and at any time upon the occurrences of certain events.
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New Accounting Pronouncements |
6 Months Ended |
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Jun. 30, 2023 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Pronouncements | Recently issued but not effective Accounting Pronouncements ASU 2020-04 In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848)”. The ASU provided optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendment only applies to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. The ASU is effective as of March 12, 2020 through December 31, 2022. Furthermore, in December 2022, the FASB issued ASU 2022-06, “Deferral of the Sunset Date of Reference Rate Reform (Topic 848)”. This ASU extends the sunset date of ASC Topic 848 (Reference Rate Reform) to December 31, 2024, in response to the United Kingdom’s Financial Conduct Authority (FCA) extension of the intended cessation date of LIBOR in the United States. The Corporation evaluated the impact of this standard, and believes that its adoption will not have a material impact on the Corporation’s consolidated financial condition or results of operations.
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New Accounting Pronouncements (Policies) |
6 Months Ended |
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Jun. 30, 2023 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Pronouncements | Recently issued but not effective Accounting Pronouncements ASU 2020-04 In March 2020, the FASB issued ASU 2020-04, “Reference Rate Reform (Topic 848)”. The ASU provided optional expedients and exceptions for applying GAAP to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. The amendment only applies to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of the reference rate reform. The ASU is effective as of March 12, 2020 through December 31, 2022. Furthermore, in December 2022, the FASB issued ASU 2022-06, “Deferral of the Sunset Date of Reference Rate Reform (Topic 848)”. This ASU extends the sunset date of ASC Topic 848 (Reference Rate Reform) to December 31, 2024, in response to the United Kingdom’s Financial Conduct Authority (FCA) extension of the intended cessation date of LIBOR in the United States. The Corporation evaluated the impact of this standard, and believes that its adoption will not have a material impact on the Corporation’s consolidated financial condition or results of operations.
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Organization, Consolidation and Presentation of Financial Statements (Tables) |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Impact of Topic 326 | The following table illustrates the impact of Topic 326:
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Retirement Benefits (Tables) |
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Postemployment Benefits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of net periodic benefit expense (income) | The components of net periodic benefit income related to the non-contributory, defined benefit pension plan for the three and six month periods ended June 30 were as follows:
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Accumulated Other Comprehensive Loss (Tables) |
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Stockholders' Equity Note [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of accumulated other comprehensive loss | The components of accumulated other comprehensive loss, net of taxes, are as follows:
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Segment Reporting (Tables) |
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Segment Reporting [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of Segment Information | Segment information for the six month periods ended June 30, 2023 and 2022, is as follows:
Segment information for the three month periods ended June 30, 2023 and 2022, is as follows:
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Securities (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Investments, Debt and Equity Securities [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of amortized cost and fair value of securities | Amortized cost and fair value of securities at June 30, 2023, and December 31, 2022, were as follows:
Fair value of equity securities with readily determinable fair values at June 30, 2023 and December 31, 2022, are as follows:
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Schedule of unrealized losses and fair value | The following table shows the Corporation’s investments’ gross unrealized and unrecognized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, at June 30, 2023, and December 31, 2022:
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Schedule of amortized cost and fair value by contractual maturity | Amortized cost and fair value at June 30, 2023, by contractual maturity, where applicable, are shown below. Expected maturities will differ from contractual maturities because issuers may have the right to call or prepay with or without penalties. Securities not due at a single maturity date are shown separately.
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Gain (Loss) on Securities | The proceeds from sales of securities and the associated gains and losses are listed below:
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Loans and Allowance for Credit Losses (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of the composition of the loan portfolio | The following table presents the composition of the loan portfolio as of June 30, 2023, and December 31, 2022:
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Schedule of nonaccrual loans by loan portfolio class | The following table presents nonaccrual loans as of June 30, 2023, and December 31, 2022:
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Schedule of classes of loan portfolio summarized by the aggregate risk rating | The following table presents loan balances by year of origination and internally assigned risk rating for ACNB’s portfolio segments as of June 30, 2023:
The following table presents the recorded investment in loan classes by internally assigned risk ratings and loan classes by performing and nonperforming status as of December 31, 2022:
The following table presents loan balances by year of origination and performing and nonperforming status for ACNB’s portfolio segments as of June 30, 2023:
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Schedule of classes of loan portfolio summarized by the past due status | The following tables present the classes of the loan portfolio summarized by the past due status as of June 30, 2023, and December 31, 2022:
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Financing Receivable, Loan Portfolio Class | The following table summarizes information relative to individually evaluated loans by loan portfolio class as of June 30, 2023 and December 31, 2022:
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Financing Receivable, Amortized Cost Basis | The following table presents the amortized cost basis of individually evaluated loans as of June 30, 2023. Changes in the fair value of the collateral for individually evaluated loans are reported as provision for credit losses or a reversal of provision for credit losses in the period of change.
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Summary of allowance for loan losses and recorded investment in loans receivable | The following tables summarize the allowance for credit losses and allowance for loan losses and recorded investment in loans receivable:
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Fair Value Measurements (Tables) |
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Fair Value Disclosures [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of fair value measurements by level within the fair value hierarchy and the basis of measurement used | For assets measured at fair value, the fair value measurements by level within the fair value hierarchy, and the basis of measurement used at June 30, 2023, and December 31, 2022, are as follows:
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||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis for which the Corporation has utilized Level 3 inputs to determine fair value:
(a) Fair value is generally determined through management’s estimate or independent third-party appraisals of the underlying collateral, which generally includes various Level 3 inputs which are not observable. (b) Appraisals may be adjusted downward by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range of liquidation expenses and other appraisal adjustments are presented as a percentage of the appraisal. Higher downward adjustments are caused by negative changes to the collateral or conditions in the real estate market, actual offers or sales contracts received, and/or age of the appraisal.
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Schedule of carrying amount, exit pricing concept fair value and placement in the fair value hierarchy | The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments as of June 30, 2023:
The following presents the carrying amount, fair value, and placement in the fair value hierarchy of the Corporation’s financial instruments as of December 31, 2022:
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Deposits (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposits [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Deposit Liabilities, Type | The following table presents the composition of deposits at the dates presented:
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Time Deposit Maturities | Certificates of deposit maturing as of June 30, 2023 are as follows:
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Borrowings (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2023 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Debt Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of short-term debt outstanding | The Corporation had short-term debt outstanding as follows:
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Schedule of long-term debt outstanding | The Corporation had long-term debt outstanding as follows:
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Retirement Benefits (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023
USD ($)
person
|
Jun. 30, 2022
USD ($)
|
Jun. 30, 2023
USD ($)
person
|
Jun. 30, 2022
USD ($)
|
|
Postemployment Benefits [Abstract] | ||||
Service cost | $ 124 | $ 194 | $ 248 | $ 388 |
Interest cost | 373 | 263 | 746 | 526 |
Expected return on plan assets | (663) | (784) | (1,326) | (1,568) |
Amortization of net loss | 98 | 101 | 196 | 203 |
Net Periodic Benefit Income | $ (68) | $ (226) | $ (136) | $ (451) |
Number of active, vested, terminated and retired persons in the plan | person | 343 | 343 |
Guarantees (Details) $ in Thousands |
6 Months Ended |
---|---|
Jun. 30, 2023
USD ($)
| |
Guarantor Obligations [Line Items] | |
Line of credit facility expiration period | 1 year |
Standby Letters of Credit | |
Guarantor Obligations [Line Items] | |
Guarantees amount | $ 17,997 |
Segment Reporting (Details) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2023
USD ($)
|
Jun. 30, 2022
USD ($)
|
Jun. 30, 2023
USD ($)
segment
|
Jun. 30, 2022
USD ($)
|
Dec. 31, 2022
USD ($)
|
|
Segment Reporting [Abstract] | |||||
Number of reporting segments | segment | 2 | ||||
Segment Reporting Information [Line Items] | |||||
Interest income and other income from external customers | $ 29,407 | $ 26,772 | $ 58,300 | $ 49,308 | |
Interest Expense | 1,223 | 892 | 2,040 | 1,916 | |
Depreciation and amortization | 851 | 955 | 1,734 | 1,834 | |
Income before income taxes | 12,055 | 10,874 | 23,476 | 19,104 | |
Total assets | 2,378,151 | 2,683,162 | 2,378,151 | 2,683,162 | $ 2,525,507 |
Capital expenditures | 48 | 389 | 106 | 720 | |
Banking | |||||
Segment Reporting Information [Line Items] | |||||
Interest income and other income from external customers | 26,567 | 23,964 | 53,558 | 45,300 | |
Interest Expense | 1,223 | 880 | 2,040 | 1,898 | |
Depreciation and amortization | 639 | 745 | 1,312 | 1,493 | |
Income before income taxes | 11,109 | 9,806 | 22,401 | 18,162 | |
Total assets | 2,358,549 | 2,663,184 | 2,358,549 | 2,663,184 | |
Capital expenditures | 48 | 383 | 100 | 703 | |
Insurance | |||||
Segment Reporting Information [Line Items] | |||||
Interest income and other income from external customers | 2,840 | 2,808 | 4,742 | 4,008 | |
Interest Expense | 0 | 12 | 0 | 18 | |
Depreciation and amortization | 212 | 210 | 422 | 341 | |
Income before income taxes | 946 | 1,068 | 1,075 | 942 | |
Total assets | 19,602 | 19,978 | 19,602 | 19,978 | |
Capital expenditures | $ 0 | $ 6 | $ 6 | $ 17 |
Securities - Schedule of Amortized Cost and Fair Value of Securities (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
SECURITIES AVAILABLE FOR SALE | ||
Available-for-sale, Amortized Cost | $ 518,307 | $ 617,641 |
Gross Unrealized Gains | 0 | 553 |
Gross Unrealized Losses | 66,055 | 64,640 |
Debt securities available for sale | 452,252 | 553,554 |
SECURITIES HELD TO MATURITY | ||
Held to Maturity, Amortized Cost | 64,926 | 64,977 |
Gross Unrecognized Gains | 0 | 0 |
Gross Unrecognized Losses | 6,793 | 6,899 |
Fair Value | 58,133 | 58,078 |
U.S. Government and agencies | ||
SECURITIES AVAILABLE FOR SALE | ||
Available-for-sale, Amortized Cost | 228,489 | 241,467 |
Gross Unrealized Gains | 0 | 0 |
Gross Unrealized Losses | 29,659 | 30,468 |
Debt securities available for sale | 198,830 | 210,999 |
Mortgage-backed securities | ||
SECURITIES AVAILABLE FOR SALE | ||
Available-for-sale, Amortized Cost | 271,698 | 327,535 |
Gross Unrealized Gains | 0 | 342 |
Gross Unrealized Losses | 33,408 | 32,159 |
Debt securities available for sale | 238,290 | 295,718 |
SECURITIES HELD TO MATURITY | ||
Held to Maturity, Amortized Cost | 2,864 | 3,279 |
Gross Unrecognized Gains | 0 | 0 |
Gross Unrecognized Losses | 186 | 194 |
Fair Value | 2,678 | 3,085 |
State and municipal | ||
SECURITIES AVAILABLE FOR SALE | ||
Available-for-sale, Amortized Cost | 0 | 15,235 |
Gross Unrealized Gains | 0 | 196 |
Gross Unrealized Losses | 0 | 196 |
Debt securities available for sale | 0 | 15,235 |
SECURITIES HELD TO MATURITY | ||
Held to Maturity, Amortized Cost | 62,062 | 61,698 |
Gross Unrecognized Gains | 0 | 0 |
Gross Unrecognized Losses | 6,607 | 6,705 |
Fair Value | 55,455 | 54,993 |
Corporate bonds | ||
SECURITIES AVAILABLE FOR SALE | ||
Available-for-sale, Amortized Cost | 18,120 | 33,404 |
Gross Unrealized Gains | 0 | 15 |
Gross Unrealized Losses | 2,988 | 1,817 |
Debt securities available for sale | $ 15,132 | $ 31,602 |
Securities - Schedule of Required Fair Value Disclosures for Equity Securities (Details) - USD ($) $ in Thousands |
6 Months Ended | 12 Months Ended |
---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|
Equity Securities, FV-NI, Realized Gain (Loss) [Roll Forward] | ||
Fair value at beginning of period | $ 1,719 | $ 2,609 |
Purchases | 0 | 206 |
Sales/reclassification | 798 | 811 |
Gains | 5 | 13 |
Losses on sales of securities | 11 | 298 |
Fair value at end of period | 915 | 1,719 |
CRA Mutual Fund | ||
Equity Securities, FV-NI, Realized Gain (Loss) [Roll Forward] | ||
Fair value at beginning of period | 915 | 1,036 |
Purchases | 0 | 0 |
Sales/reclassification | 0 | 0 |
Gains | 0 | 0 |
Losses on sales of securities | 0 | 121 |
Fair value at end of period | 915 | 915 |
Canapi Ventures SBIC Fund | ||
Equity Securities, FV-NI, Realized Gain (Loss) [Roll Forward] | ||
Fair value at beginning of period | 206 | 0 |
Purchases | 0 | 206 |
Sales/reclassification | 206 | 0 |
Gains | 0 | 0 |
Losses on sales of securities | 0 | 0 |
Fair value at end of period | 0 | 206 |
Stock in other banks | ||
Equity Securities, FV-NI, Realized Gain (Loss) [Roll Forward] | ||
Fair value at beginning of period | 598 | 1,573 |
Purchases | 0 | 0 |
Sales/reclassification | 592 | 811 |
Gains | 5 | 13 |
Losses on sales of securities | 11 | 177 |
Fair value at end of period | $ 0 | $ 598 |
Securities - Schedule of Unrealized Losses and Fair Value (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
SECURITIES AVAILABLE FOR SALE | ||
Fair Value, Less than 12 Months | $ 16,989 | $ 277,241 |
Unrealized Losses, Less than 12 Months | 1,264 | 22,236 |
Fair Value, 12 Months or More | 435,263 | 253,968 |
Unrealized Losses, 12 Months or More | 64,791 | 42,404 |
Total Fair Value | 452,252 | 531,209 |
Total Unrealized Losses | 66,055 | 64,640 |
SECURITIES HELD TO MATURITY | ||
Fair Value, Less than 12 Months | 285 | 41,171 |
Unrealized Losses, Less than 12 Months | 0 | 4,069 |
Fair Value, 12 Months or More | 57,848 | 16,907 |
Unrealized Losses, 12 Months or More | 6,793 | 2,830 |
Total Fair Value | 58,133 | 58,078 |
Total Unrealized Losses | 6,793 | 6,899 |
U.S. Government and agencies | ||
SECURITIES AVAILABLE FOR SALE | ||
Fair Value, Less than 12 Months | 0 | 25,426 |
Unrealized Losses, Less than 12 Months | 0 | 1,461 |
Fair Value, 12 Months or More | 198,830 | 185,573 |
Unrealized Losses, 12 Months or More | 29,659 | 29,007 |
Total Fair Value | 198,830 | 210,999 |
Total Unrealized Losses | 29,659 | 30,468 |
Mortgage-backed securities | ||
SECURITIES AVAILABLE FOR SALE | ||
Fair Value, Less than 12 Months | 14,612 | 221,249 |
Unrealized Losses, Less than 12 Months | 891 | 19,362 |
Fair Value, 12 Months or More | 223,678 | 63,145 |
Unrealized Losses, 12 Months or More | 32,517 | 12,797 |
Total Fair Value | 238,290 | 284,394 |
Total Unrealized Losses | 33,408 | 32,159 |
SECURITIES HELD TO MATURITY | ||
Fair Value, Less than 12 Months | 0 | 3,085 |
Unrealized Losses, Less than 12 Months | 0 | 194 |
Fair Value, 12 Months or More | 2,678 | 0 |
Unrealized Losses, 12 Months or More | 186 | 0 |
Total Fair Value | 2,678 | 3,085 |
Total Unrealized Losses | 186 | 194 |
State and municipal | ||
SECURITIES AVAILABLE FOR SALE | ||
Fair Value, Less than 12 Months | 0 | 6,229 |
Unrealized Losses, Less than 12 Months | 0 | 196 |
Fair Value, 12 Months or More | 0 | 0 |
Unrealized Losses, 12 Months or More | 0 | 0 |
Total Fair Value | 0 | 6,229 |
Total Unrealized Losses | 0 | 196 |
SECURITIES HELD TO MATURITY | ||
Fair Value, Less than 12 Months | 285 | 38,086 |
Unrealized Losses, Less than 12 Months | 0 | 3,875 |
Fair Value, 12 Months or More | 55,170 | 16,907 |
Unrealized Losses, 12 Months or More | 6,607 | 2,830 |
Total Fair Value | 55,455 | 54,993 |
Total Unrealized Losses | 6,607 | 6,705 |
Corporate bonds | ||
SECURITIES AVAILABLE FOR SALE | ||
Fair Value, Less than 12 Months | 2,377 | 24,337 |
Unrealized Losses, Less than 12 Months | 373 | 1,217 |
Fair Value, 12 Months or More | 12,755 | 5,250 |
Unrealized Losses, 12 Months or More | 2,615 | 600 |
Total Fair Value | 15,132 | 29,587 |
Total Unrealized Losses | $ 2,988 | $ 1,817 |
Securities - Narrative (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
Debt Securities, Available-for-sale [Line Items] | |||||
Carrying value of securities pledged as collateral as required by law on public and trust deposits, repurchase agreements, and for other purposes | $ 247,854 | $ 247,854 | $ 342,180 | ||
Gross gains | 15 | $ 0 | 243 | $ 0 | |
Gross losses | $ 561 | $ 0 | $ 982 | $ 0 |
Securities - Schedule of Amortized Cost and Fair Value by Contractual Maturity (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Available for Sale Amortized Cost | ||
1 year or less | $ 0 | |
Over 1 year through 5 years | 161,885 | |
Over 5 years through 10 years | 80,151 | |
Over 10 years | 4,573 | |
Without single maturity date | 271,698 | |
Available-for-sale, Amortized Cost | 518,307 | $ 617,641 |
Available for Sale Fair Value | ||
1 year or less | 0 | |
Over 1 year through 5 years | 144,664 | |
Over 5 years through 10 years | 65,766 | |
Over 10 years | 3,532 | |
Without single maturity date | 238,290 | |
Available for Sale, Fair Value | 452,252 | 553,554 |
Held-to-Maturity Amortized Cost | ||
1 year or less | 285 | |
Over 1 year through 5 years | 380 | |
Over 5 years through 10 years | 17,005 | |
Over 10 years | 44,392 | |
Mortgage-backed securities | 2,864 | |
Held to Maturity, Amortized Cost | 64,926 | 64,977 |
Held-to-Maturity Fair Value | ||
1 year or less | 285 | |
Over 1 year through 5 years | 359 | |
Over 5 years through 10 years | 15,738 | |
Over 10 years | 39,073 | |
Mortgage-backed securities | 2,678 | |
Held to Maturity, Fair Value | 58,133 | 58,078 |
Mortgage-backed securities | ||
Available for Sale Amortized Cost | ||
Available-for-sale, Amortized Cost | 271,698 | 327,535 |
Available for Sale Fair Value | ||
Available for Sale, Fair Value | 238,290 | 295,718 |
Held-to-Maturity Amortized Cost | ||
Held to Maturity, Amortized Cost | 2,864 | 3,279 |
Held-to-Maturity Fair Value | ||
Held to Maturity, Fair Value | $ 2,678 | $ 3,085 |
Securities - Gain (Loss) on Securities (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
|
Investments, Debt and Equity Securities [Abstract] | ||||
Proceeds | $ 32,235 | $ 0 | $ 79,215 | $ 0 |
Gross gains | 15 | 0 | 243 | 0 |
Gross losses | $ 561 | $ 0 | $ 982 | $ 0 |
Loans and Allowance for Credit Losses - Schedule of the Composition of the Loan Portfolio (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|---|
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | $ 1,573,817 | $ 1,538,610 | $ 1,509,792 |
Commercial and industrial | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | 158,537 | 178,762 | 177,115 |
Commercial real estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | 873,787 | 821,805 | 818,117 |
Commercial real estate construction | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | 73,951 | 80,470 | 69,120 |
Residential mortgage | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | 372,819 | 362,098 | 348,475 |
Home equity lines of credit | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | 85,019 | 84,141 | 83,589 |
Consumer | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing receivable, before allowance for credit loss | $ 9,704 | $ 11,334 | $ 13,376 |
Loans and Allowance for Credit Losses - Schedule of Nonaccrual Loans by Classes of the Loan Portfolio (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Financing Receivable, Past Due [Line Items] | ||
Total nonaccrual loans | $ 2,890 | $ 2,654 |
Commercial and industrial | ||
Financing Receivable, Past Due [Line Items] | ||
Total nonaccrual loans | 744 | 781 |
Commercial real estate | ||
Financing Receivable, Past Due [Line Items] | ||
Total nonaccrual loans | 1,601 | 1,873 |
Commercial real estate construction | ||
Financing Receivable, Past Due [Line Items] | ||
Total nonaccrual loans | 0 | 0 |
Residential mortgage | ||
Financing Receivable, Past Due [Line Items] | ||
Total nonaccrual loans | 343 | 0 |
Home equity lines of credit | ||
Financing Receivable, Past Due [Line Items] | ||
Total nonaccrual loans | $ 202 | $ 0 |
Loans and Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Thousands |
6 Months Ended | |
---|---|---|
Jun. 30, 2023 |
Dec. 31, 2022 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings are in process | $ 569 | $ 1,101 |
Maximum | Commercial real estate | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable term | 20 years | |
Loan-to-value ratio (no greater than) | 80.00% | |
Maximum | Residential mortgage | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable term | 30 years | |
Loan-to-value ratio (no greater than) | 80.00% | |
Loan-to-value ratio that requires private mortgage insurance (in excess of) | 80.00% | |
Maximum | Home equity lines of credit | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Financing receivable term | 20 years | |
Loan-to-value ratio (no greater than) | 90.00% |
Loans and Allowance for Credit Losses - Schedule of Classes of the Loan Portfolio Summarized by the Aggregate Risk Rating (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | $ 120,809 | $ 120,809 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 302,633 | 302,633 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 251,864 | 251,864 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 121,821 | 121,821 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 115,020 | 115,020 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 529,661 | 529,661 | |||
Financing Receivable, Revolving | 132,009 | 132,009 | |||
Financing receivable, before allowance for credit loss | 1,573,817 | $ 1,509,792 | 1,573,817 | $ 1,509,792 | $ 1,538,610 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 5 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 62 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 32 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 7 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 16 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 77 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 82 | 38 | 199 | 120 | |
Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 120,029 | 120,029 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 296,884 | 296,884 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 249,425 | 249,425 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 119,234 | 119,234 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 108,659 | 108,659 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 502,719 | 502,719 | |||
Financing Receivable, Revolving | 128,624 | 128,624 | |||
Financing receivable, before allowance for credit loss | 1,525,574 | 1,525,574 | 1,489,259 | ||
Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 772 | 772 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 5,730 | 5,730 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 2,439 | 2,439 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 2,567 | 2,567 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 5,804 | 5,804 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 19,951 | 19,951 | |||
Financing Receivable, Revolving | 2,855 | 2,855 | |||
Financing receivable, before allowance for credit loss | 40,118 | 40,118 | 41,908 | ||
Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 8 | 8 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 19 | 19 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 20 | 20 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 557 | 557 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 6,991 | 6,991 | |||
Financing Receivable, Revolving | 530 | 530 | |||
Financing receivable, before allowance for credit loss | 8,125 | 8,125 | 7,443 | ||
Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 120,809 | 120,809 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 302,633 | 302,633 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 251,864 | 251,864 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 121,821 | 121,821 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 114,696 | 114,696 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 526,830 | 526,830 | |||
Financing Receivable, Revolving | 131,505 | 131,505 | |||
Financing receivable, before allowance for credit loss | 1,570,158 | 1,570,158 | 1,534,753 | ||
Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 324 | 324 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,831 | 2,831 | |||
Financing Receivable, Revolving | 504 | 504 | |||
Financing receivable, before allowance for credit loss | 3,659 | 3,659 | 3,857 | ||
Commercial and industrial | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,187 | 3,187 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 27,255 | 27,255 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 39,524 | 39,524 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 17,399 | 17,399 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 15,136 | 15,136 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 27,196 | 27,196 | |||
Financing Receivable, Revolving | 28,840 | 28,840 | |||
Financing receivable, before allowance for credit loss | 158,537 | 177,115 | 158,537 | 177,115 | 178,762 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 29 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 34 | 29 | 97 | |
Commercial and industrial | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,061 | 3,061 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 26,848 | 26,848 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 39,180 | 39,180 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 16,865 | 16,865 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 14,949 | 14,949 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 25,763 | 25,763 | |||
Financing Receivable, Revolving | 26,949 | 26,949 | |||
Financing receivable, before allowance for credit loss | 153,615 | 153,615 | 173,437 | ||
Commercial and industrial | Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 118 | 118 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 388 | 388 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 344 | 344 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 514 | 514 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 174 | 174 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 613 | 613 | |||
Financing Receivable, Revolving | 1,387 | 1,387 | |||
Financing receivable, before allowance for credit loss | 3,538 | 3,538 | 4,035 | ||
Commercial and industrial | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 8 | 8 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 19 | 19 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 20 | 20 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 13 | 13 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 820 | 820 | |||
Financing Receivable, Revolving | 504 | 504 | |||
Financing receivable, before allowance for credit loss | 1,384 | 1,384 | 1,290 | ||
Commercial and industrial | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Commercial and industrial | Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Commercial and industrial | Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,187 | 3,187 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 27,255 | 27,255 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 39,524 | 39,524 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 17,399 | 17,399 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 15,136 | 15,136 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 26,956 | 26,956 | |||
Financing Receivable, Revolving | 28,336 | 28,336 | |||
Financing receivable, before allowance for credit loss | 157,793 | 157,793 | 177,981 | ||
Commercial and industrial | Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 240 | 240 | |||
Financing Receivable, Revolving | 504 | 504 | |||
Financing receivable, before allowance for credit loss | 744 | 744 | 781 | ||
Commercial real estate | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 72,528 | 72,528 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 152,576 | 152,576 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 145,888 | 145,888 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 69,291 | 69,291 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 77,693 | 77,693 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 340,852 | 340,852 | |||
Financing Receivable, Revolving | 14,959 | 14,959 | |||
Financing receivable, before allowance for credit loss | 873,787 | 818,117 | 873,787 | 818,117 | 821,805 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | 0 | |
Commercial real estate | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 72,354 | 72,354 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 147,795 | 147,795 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 144,506 | 144,506 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 67,743 | 67,743 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 72,227 | 72,227 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 321,050 | 321,050 | |||
Financing Receivable, Revolving | 14,273 | 14,273 | |||
Financing receivable, before allowance for credit loss | 839,948 | 839,948 | 786,711 | ||
Commercial real estate | Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 174 | 174 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 4,781 | 4,781 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 1,382 | 1,382 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,548 | 1,548 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 4,922 | 4,922 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 15,107 | 15,107 | |||
Financing Receivable, Revolving | 686 | 686 | |||
Financing receivable, before allowance for credit loss | 28,600 | 28,600 | 29,540 | ||
Commercial real estate | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 544 | 544 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,695 | 4,695 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 5,239 | 5,239 | 5,554 | ||
Commercial real estate | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Commercial real estate | Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Commercial real estate | Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 72,528 | 72,528 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 152,576 | 152,576 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 145,888 | 145,888 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 69,291 | 69,291 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 77,369 | 77,369 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 339,575 | 339,575 | |||
Financing Receivable, Revolving | 14,959 | 14,959 | |||
Financing receivable, before allowance for credit loss | 872,186 | 872,186 | 819,932 | ||
Commercial real estate | Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 324 | 324 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,277 | 1,277 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 1,601 | 1,601 | 1,873 | ||
Commercial real estate construction | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,045 | 9,045 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 44,246 | 44,246 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 7,420 | 7,420 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,109 | 1,109 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 342 | 342 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,538 | 4,538 | |||
Financing Receivable, Revolving | 7,251 | 7,251 | |||
Financing receivable, before allowance for credit loss | 73,951 | 69,120 | 73,951 | 69,120 | 80,470 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | 0 | |
Commercial real estate construction | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,045 | 9,045 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 43,769 | 43,769 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 7,420 | 7,420 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,016 | 1,016 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 342 | 342 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 3,781 | 3,781 | |||
Financing Receivable, Revolving | 7,251 | 7,251 | |||
Financing receivable, before allowance for credit loss | 72,624 | 72,624 | 78,652 | ||
Commercial real estate construction | Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 477 | 477 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 93 | 93 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 757 | 757 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 1,327 | 1,327 | 1,818 | ||
Commercial real estate construction | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Commercial real estate construction | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Commercial real estate construction | Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Commercial real estate construction | Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,045 | 9,045 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 44,246 | 44,246 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 7,420 | 7,420 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,109 | 1,109 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 342 | 342 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,538 | 4,538 | |||
Financing Receivable, Revolving | 7,251 | 7,251 | |||
Financing receivable, before allowance for credit loss | 73,951 | 73,951 | 80,470 | ||
Commercial real estate construction | Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Residential mortgage | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,721 | 33,721 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 75,386 | 75,386 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 58,061 | 58,061 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 33,282 | 33,282 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 21,388 | 21,388 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 150,692 | 150,692 | |||
Financing Receivable, Revolving | 289 | 289 | |||
Financing receivable, before allowance for credit loss | 372,819 | 348,475 | 372,819 | 348,475 | 362,098 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 3 | 0 | 3 | |
Residential mortgage | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,241 | 33,241 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 75,302 | 75,302 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 57,348 | 57,348 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 32,870 | 32,870 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 20,680 | 20,680 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 146,279 | 146,279 | |||
Financing Receivable, Revolving | 289 | 289 | |||
Financing receivable, before allowance for credit loss | 366,009 | 366,009 | 356,081 | ||
Residential mortgage | Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 480 | 480 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 84 | 84 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 713 | 713 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 412 | 412 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 708 | 708 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 3,438 | 3,438 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 5,835 | 5,835 | 5,803 | ||
Residential mortgage | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 975 | 975 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 975 | 975 | 214 | ||
Residential mortgage | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Residential mortgage | Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Residential mortgage | Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,721 | 33,721 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 75,386 | 75,386 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 58,061 | 58,061 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 33,282 | 33,282 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 21,388 | 21,388 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 149,704 | 149,704 | |||
Financing Receivable, Revolving | 289 | 289 | |||
Financing receivable, before allowance for credit loss | 371,831 | 371,831 | 361,393 | ||
Residential mortgage | Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 988 | 988 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 988 | 988 | 705 | ||
Home equity lines of credit | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 939 | 939 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 40 | 40 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 99 | 99 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 5,052 | 5,052 | |||
Financing Receivable, Revolving | 78,889 | 78,889 | |||
Financing receivable, before allowance for credit loss | 85,019 | 83,589 | 85,019 | 83,589 | 84,141 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 0 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 0 | 0 | 0 | 0 | |
Home equity lines of credit | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 939 | 939 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 40 | 40 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 99 | 99 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,515 | 4,515 | |||
Financing Receivable, Revolving | 78,107 | 78,107 | |||
Financing receivable, before allowance for credit loss | 83,700 | 83,700 | 83,044 | ||
Home equity lines of credit | Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 36 | 36 | |||
Financing Receivable, Revolving | 782 | 782 | |||
Financing receivable, before allowance for credit loss | 818 | 818 | 712 | ||
Home equity lines of credit | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 501 | 501 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 501 | 501 | 385 | ||
Home equity lines of credit | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Home equity lines of credit | Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Home equity lines of credit | Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 939 | 939 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 40 | 40 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 99 | 99 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,726 | 4,726 | |||
Financing Receivable, Revolving | 78,889 | 78,889 | |||
Financing receivable, before allowance for credit loss | 84,693 | 84,693 | 83,643 | ||
Home equity lines of credit | Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 326 | 326 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 326 | 326 | 498 | ||
Consumer | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,389 | 1,389 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,130 | 3,130 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 971 | 971 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 740 | 740 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 362 | 362 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,331 | 1,331 | |||
Financing Receivable, Revolving | 1,781 | 1,781 | |||
Financing receivable, before allowance for credit loss | 9,704 | 13,376 | 9,704 | 13,376 | 11,334 |
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff | 5 | ||||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff | 62 | ||||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff | 32 | ||||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff | 7 | ||||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff | 16 | ||||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff | 48 | ||||
Financing Receivable, Revolving, Writeoff | 0 | ||||
Financing Receivable, Allowance for Credit Loss, Writeoff | 82 | $ 1 | 170 | $ 20 | |
Consumer | Pass | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,389 | 1,389 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,130 | 3,130 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 971 | 971 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 740 | 740 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 362 | 362 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,331 | 1,331 | |||
Financing Receivable, Revolving | 1,755 | 1,755 | |||
Financing receivable, before allowance for credit loss | 9,678 | 9,678 | 11,334 | ||
Consumer | Special Mention | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Consumer | Substandard | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 26 | 26 | |||
Financing receivable, before allowance for credit loss | 26 | 26 | 0 | ||
Consumer | Doubtful | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | 0 | 0 | 0 | ||
Consumer | Loss | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing receivable, before allowance for credit loss | 0 | ||||
Consumer | Performing Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,389 | 1,389 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,130 | 3,130 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 971 | 971 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 740 | 740 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 362 | 362 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,331 | 1,331 | |||
Financing Receivable, Revolving | 1,781 | 1,781 | |||
Financing receivable, before allowance for credit loss | 9,704 | 9,704 | 11,334 | ||
Consumer | Nonperforming Loans | |||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | 0 | |||
Financing Receivable, Revolving | 0 | 0 | |||
Financing receivable, before allowance for credit loss | $ 0 | $ 0 | $ 0 |
Loans and Allowance for Credit Losses - Schedule of Loan Portfolio Summarized by Performing and Nonperforming (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|---|
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | $ 120,809 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 302,633 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 251,864 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 121,821 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 115,020 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 529,661 | ||
Financing Receivable, Revolving | 132,009 | ||
Financing receivable, before allowance for credit loss | 1,573,817 | $ 1,538,610 | $ 1,509,792 |
Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 120,809 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 302,633 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 251,864 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 121,821 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 114,696 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 526,830 | ||
Financing Receivable, Revolving | 131,505 | ||
Financing receivable, before allowance for credit loss | 1,570,158 | 1,534,753 | |
Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 324 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 2,831 | ||
Financing Receivable, Revolving | 504 | ||
Financing receivable, before allowance for credit loss | 3,659 | 3,857 | |
Commercial and industrial | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,187 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 27,255 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 39,524 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 17,399 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 15,136 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 27,196 | ||
Financing Receivable, Revolving | 28,840 | ||
Financing receivable, before allowance for credit loss | 158,537 | 178,762 | 177,115 |
Commercial and industrial | Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 3,187 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 27,255 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 39,524 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 17,399 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 15,136 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 26,956 | ||
Financing Receivable, Revolving | 28,336 | ||
Financing receivable, before allowance for credit loss | 157,793 | 177,981 | |
Commercial and industrial | Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 240 | ||
Financing Receivable, Revolving | 504 | ||
Financing receivable, before allowance for credit loss | 744 | 781 | |
Commercial real estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 72,528 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 152,576 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 145,888 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 69,291 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 77,693 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 340,852 | ||
Financing Receivable, Revolving | 14,959 | ||
Financing receivable, before allowance for credit loss | 873,787 | 821,805 | 818,117 |
Commercial real estate | Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 72,528 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 152,576 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 145,888 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 69,291 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 77,369 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 339,575 | ||
Financing Receivable, Revolving | 14,959 | ||
Financing receivable, before allowance for credit loss | 872,186 | 819,932 | |
Commercial real estate | Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 324 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,277 | ||
Financing Receivable, Revolving | 0 | ||
Financing receivable, before allowance for credit loss | 1,601 | 1,873 | |
Commercial real estate construction | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,045 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 44,246 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 7,420 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,109 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 342 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,538 | ||
Financing Receivable, Revolving | 7,251 | ||
Financing receivable, before allowance for credit loss | 73,951 | 80,470 | 69,120 |
Commercial real estate construction | Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 9,045 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 44,246 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 7,420 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 1,109 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 342 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,538 | ||
Financing Receivable, Revolving | 7,251 | ||
Financing receivable, before allowance for credit loss | 73,951 | 80,470 | |
Commercial real estate construction | Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | ||
Financing Receivable, Revolving | 0 | ||
Financing receivable, before allowance for credit loss | 0 | 0 | |
Residential mortgage | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,721 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 75,386 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 58,061 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 33,282 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 21,388 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 150,692 | ||
Financing Receivable, Revolving | 289 | ||
Financing receivable, before allowance for credit loss | 372,819 | 362,098 | 348,475 |
Residential mortgage | Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 33,721 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 75,386 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 58,061 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 33,282 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 21,388 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 149,704 | ||
Financing Receivable, Revolving | 289 | ||
Financing receivable, before allowance for credit loss | 371,831 | 361,393 | |
Residential mortgage | Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 988 | ||
Financing Receivable, Revolving | 0 | ||
Financing receivable, before allowance for credit loss | 988 | 705 | |
Home equity lines of credit | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 939 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 40 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 99 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 5,052 | ||
Financing Receivable, Revolving | 78,889 | ||
Financing receivable, before allowance for credit loss | 85,019 | 84,141 | 83,589 |
Home equity lines of credit | Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 939 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 40 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 99 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 4,726 | ||
Financing Receivable, Revolving | 78,889 | ||
Financing receivable, before allowance for credit loss | 84,693 | 83,643 | |
Home equity lines of credit | Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 326 | ||
Financing Receivable, Revolving | 0 | ||
Financing receivable, before allowance for credit loss | 326 | 498 | |
Consumer | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,389 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,130 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 971 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 740 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 362 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,331 | ||
Financing Receivable, Revolving | 1,781 | ||
Financing receivable, before allowance for credit loss | 9,704 | 11,334 | $ 13,376 |
Consumer | Performing Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 1,389 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 3,130 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 971 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 740 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 362 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 1,331 | ||
Financing Receivable, Revolving | 1,781 | ||
Financing receivable, before allowance for credit loss | 9,704 | 11,334 | |
Consumer | Nonperforming Loans | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Financing Receivable, Year One, Originated, Current Fiscal Year | 0 | ||
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year | 0 | ||
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year | 0 | ||
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year | 0 | ||
Financing Receivable, Originated, More than Five Years before Current Fiscal Year | 0 | ||
Financing Receivable, Revolving | 0 | ||
Financing receivable, before allowance for credit loss | $ 0 | $ 0 |
Loans and Allowance for Credit Losses - Schedule of Loan Portfolio Summarized by the Past Due Status (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|---|
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | $ 1,573,817 | $ 1,538,610 | $ 1,509,792 |
Loans Receivable >90 Days and Accruing | 769 | 1,203 | |
30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 1,238 | 5,899 | |
60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 492 | 1,517 | |
>90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 1,273 | 1,620 | |
Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 3,003 | 9,036 | |
Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 1,570,814 | 1,529,574 | |
Commercial and industrial | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 158,537 | 178,762 | 177,115 |
Loans Receivable >90 Days and Accruing | 0 | 0 | |
Commercial and industrial | 30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 0 | 287 | |
Commercial and industrial | 60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 126 | 0 | |
Commercial and industrial | >90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 161 | 162 | |
Commercial and industrial | Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 287 | 449 | |
Commercial and industrial | Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 158,250 | 178,313 | |
Commercial real estate | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 873,787 | 821,805 | 818,117 |
Loans Receivable >90 Days and Accruing | 0 | 0 | |
Commercial real estate | 30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 419 | 2,026 | |
Commercial real estate | 60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 198 | 350 | |
Commercial real estate | >90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 0 | 255 | |
Commercial real estate | Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 617 | 2,631 | |
Commercial real estate | Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 873,170 | 819,174 | |
Commercial real estate construction | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 73,951 | 80,470 | 69,120 |
Loans Receivable >90 Days and Accruing | 0 | 0 | |
Commercial real estate construction | 30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 113 | 24 | |
Commercial real estate construction | 60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 18 | 0 | |
Commercial real estate construction | >90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 0 | 0 | |
Commercial real estate construction | Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 131 | 24 | |
Commercial real estate construction | Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 73,820 | 80,446 | |
Residential mortgage | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 372,819 | 362,098 | 348,475 |
Loans Receivable >90 Days and Accruing | 645 | 705 | |
Residential mortgage | 30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 47 | 2,969 | |
Residential mortgage | 60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 0 | 970 | |
Residential mortgage | >90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 988 | 705 | |
Residential mortgage | Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 1,035 | 4,644 | |
Residential mortgage | Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 371,784 | 357,454 | |
Home equity lines of credit | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 85,019 | 84,141 | 83,589 |
Loans Receivable >90 Days and Accruing | 124 | 498 | |
Home equity lines of credit | 30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 596 | 438 | |
Home equity lines of credit | 60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 123 | 117 | |
Home equity lines of credit | >90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 124 | 498 | |
Home equity lines of credit | Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 843 | 1,053 | |
Home equity lines of credit | Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 84,176 | 83,088 | |
Consumer | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 9,704 | 11,334 | $ 13,376 |
Loans Receivable >90 Days and Accruing | 0 | 0 | |
Consumer | 30–59 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 63 | 155 | |
Consumer | 60–89 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 27 | 80 | |
Consumer | >90 Days Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 0 | 0 | |
Consumer | Total Past Due | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | 90 | 235 | |
Consumer | Current | |||
Financing Receivable, Past Due [Line Items] | |||
Financing receivable, before allowance for credit loss | $ 9,614 | $ 11,099 |
Loans and Allowance for Credit Losses - Summary of Individually Evaluated Loans (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|---|
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | $ 831 | $ 820 | $ 1,574 |
Individually Evaluated Loans with No Allowance | 2,890 | 6,115 | 7,895 |
Recorded Investment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 1,068 | 1,131 | |
Individually Evaluated Loans with No Allowance | 1,822 | 4,984 | |
Related Allowance | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 831 | 820 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Commercial and industrial | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 647 | 628 | 742 |
Individually Evaluated Loans with No Allowance | 744 | 781 | 895 |
Commercial and industrial | Recorded Investment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 744 | 781 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Commercial and industrial | Related Allowance | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 647 | 628 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Commercial real estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 184 | 192 | 832 |
Individually Evaluated Loans with No Allowance | 1,601 | 5,334 | 7,000 |
Commercial real estate | Recorded Investment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 324 | 350 | |
Individually Evaluated Loans with No Allowance | 1,277 | 4,984 | |
Commercial real estate | Related Allowance | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 184 | 192 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Commercial real estate construction | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | 0 |
Individually Evaluated Loans with No Allowance | 0 | 0 | 0 |
Commercial real estate construction | Recorded Investment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Commercial real estate construction | Related Allowance | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Residential mortgage | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | 0 |
Individually Evaluated Loans with No Allowance | 343 | 0 | 0 |
Residential mortgage | Recorded Investment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | |
Individually Evaluated Loans with No Allowance | 343 | 0 | |
Residential mortgage | Related Allowance | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | |
Individually Evaluated Loans with No Allowance | 0 | 0 | |
Home equity lines of credit | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | 0 |
Individually Evaluated Loans with No Allowance | 202 | 0 | $ 0 |
Home equity lines of credit | Recorded Investment | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | |
Individually Evaluated Loans with No Allowance | 202 | 0 | |
Home equity lines of credit | Related Allowance | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with Allowance | 0 | 0 | |
Individually Evaluated Loans with No Allowance | $ 0 | $ 0 |
Loans and Allowance for Credit Losses - Summary of Amortized Cost Basis of Individually Evaluated Loans (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Jun. 30, 2022 |
---|---|---|---|
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | $ 2,890 | $ 6,115 | $ 7,895 |
Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 744 | ||
Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 2,146 | ||
Commercial and industrial | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 744 | 781 | 895 |
Commercial and industrial | Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 744 | ||
Commercial and industrial | Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Commercial real estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 1,601 | 5,334 | 7,000 |
Commercial real estate | Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Commercial real estate | Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 1,601 | ||
Commercial real estate construction | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | 0 | 0 |
Commercial real estate construction | Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Commercial real estate construction | Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Residential mortgage | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 343 | 0 | 0 |
Residential mortgage | Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Residential mortgage | Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 343 | ||
Home equity lines of credit | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 202 | 0 | 0 |
Home equity lines of credit | Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Home equity lines of credit | Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 202 | ||
Consumer | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | $ 0 | $ 0 |
Consumer | Business Assets | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | 0 | ||
Consumer | Real Estate | |||
Financing Receivable, Allowance for Credit Loss [Line Items] | |||
Individually Evaluated Loans with No Allowance | $ 0 |
Loans and Allowance for Credit Losses - Schedule of Allowance for Credit Losses and Recorded Investment in Financing Receivables (Details) - USD ($) $ in Thousands |
3 Months Ended | 6 Months Ended | |||
---|---|---|---|---|---|
Jun. 30, 2023 |
Jun. 30, 2022 |
Jun. 30, 2023 |
Jun. 30, 2022 |
Dec. 31, 2022 |
|
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | $ 19,485 | $ 18,963 | $ 17,861 | $ 19,033 | |
Charge-offs | (82) | (38) | (199) | (120) | |
Recoveries | 18 | 18 | 44 | 30 | |
Allowance for Loan Losses, Ending balance | 19,148 | 18,943 | 19,148 | 18,943 | |
Ending balance: individually evaluated for impairment | 831 | 1,574 | 831 | 1,574 | $ 820 |
Ending balance: collectively evaluated for impairment | 18,317 | 17,369 | 18,317 | 17,369 | 17,041 |
Loans Receivable, Ending balance | 1,573,817 | 1,509,792 | 1,573,817 | 1,509,792 | 1,538,610 |
Loans receivables: Ending balance: individually evaluated for impairment | 2,890 | 7,895 | 2,890 | 7,895 | 6,115 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 1,570,927 | 1,501,897 | 1,570,927 | 1,501,897 | 1,532,495 |
Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | (273) | 0 | (176) | 0 | |
Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 1,618 | ||||
Commercial and Industrial | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 2,105 | 3,280 | 2,848 | 3,176 | |
Charge-offs | 0 | (34) | (29) | (97) | |
Recoveries | 9 | 5 | 10 | 15 | |
Allowance for Loan Losses, Ending balance | 1,941 | 3,116 | 1,941 | 3,116 | |
Ending balance: individually evaluated for impairment | 647 | 742 | 647 | 742 | 628 |
Ending balance: collectively evaluated for impairment | 1,294 | 2,374 | 1,294 | 2,374 | 2,220 |
Loans Receivable, Ending balance | 158,537 | 177,115 | 158,537 | 177,115 | 178,762 |
Loans receivables: Ending balance: individually evaluated for impairment | 744 | 895 | 744 | 895 | 781 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 157,793 | 176,220 | 157,793 | 176,220 | 177,981 |
Commercial and Industrial | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | (173) | (135) | (126) | 22 | |
Commercial and Industrial | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | (762) | ||||
Commercial Real Estate | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 11,032 | 10,625 | 10,016 | 10,716 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Allowance for Loan Losses, Ending balance | 11,728 | 10,839 | 11,728 | 10,839 | |
Ending balance: individually evaluated for impairment | 184 | 832 | 184 | 832 | 192 |
Ending balance: collectively evaluated for impairment | 11,544 | 10,007 | 11,544 | 10,007 | 9,824 |
Loans Receivable, Ending balance | 873,787 | 818,117 | 873,787 | 818,117 | 821,805 |
Loans receivables: Ending balance: individually evaluated for impairment | 1,601 | 7,000 | 1,601 | 7,000 | 5,334 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 872,186 | 811,117 | 872,186 | 811,117 | 816,471 |
Commercial Real Estate | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | 696 | 214 | 606 | 123 | |
Commercial Real Estate | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 1,106 | ||||
Commercial Real Estate Construction | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 2,465 | 666 | 1,000 | 616 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Allowance for Loan Losses, Ending balance | 1,885 | 818 | 1,885 | 818 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 1,885 | 818 | 1,885 | 818 | 1,000 |
Loans Receivable, Ending balance | 73,951 | 69,120 | 73,951 | 69,120 | 80,470 |
Loans receivables: Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 73,951 | 69,120 | 73,951 | 69,120 | 80,470 |
Commercial Real Estate Construction | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | (580) | 152 | (462) | 202 | |
Commercial Real Estate Construction | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 1,347 | ||||
Residential Mortgage | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 3,366 | 3,082 | 3,029 | 3,235 | |
Charge-offs | 0 | (3) | 0 | (3) | |
Recoveries | 0 | 5 | 0 | 5 | |
Allowance for Loan Losses, Ending balance | 3,075 | 3,199 | 3,075 | 3,199 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 3,075 | 3,199 | 3,075 | 3,199 | 3,029 |
Loans Receivable, Ending balance | 372,819 | 348,475 | 372,819 | 348,475 | 362,098 |
Loans receivables: Ending balance: individually evaluated for impairment | 343 | 0 | 343 | 0 | 0 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 372,476 | 348,475 | 372,476 | 348,475 | 362,098 |
Residential Mortgage | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | (291) | 115 | (251) | (38) | |
Residential Mortgage | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 297 | ||||
Home Equity Lines of Credit | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 379 | 426 | 347 | 501 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Allowance for Loan Losses, Ending balance | 388 | 396 | 388 | 396 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 388 | 396 | 388 | 396 | 347 |
Loans Receivable, Ending balance | 85,019 | 83,589 | 85,019 | 83,589 | 84,141 |
Loans receivables: Ending balance: individually evaluated for impairment | 202 | 0 | 202 | 0 | 0 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 84,817 | 83,589 | 84,817 | 83,589 | 84,141 |
Home Equity Lines of Credit | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | 9 | (30) | 24 | (105) | |
Home Equity Lines of Credit | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 17 | ||||
Consumer | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 138 | 385 | 376 | 408 | |
Charge-offs | (82) | (1) | (170) | (20) | |
Recoveries | 9 | 8 | 34 | 10 | |
Allowance for Loan Losses, Ending balance | 131 | 427 | 131 | 427 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 131 | 427 | 131 | 427 | 376 |
Loans Receivable, Ending balance | 9,704 | 13,376 | 9,704 | 13,376 | 11,334 |
Loans receivables: Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 9,704 | 13,376 | 9,704 | 13,376 | 11,334 |
Consumer | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | 66 | 35 | 33 | 29 | |
Consumer | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | (142) | ||||
Unallocated | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | 0 | 499 | 245 | 381 | |
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Allowance for Loan Losses, Ending balance | 0 | 148 | 0 | 148 | |
Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Ending balance: collectively evaluated for impairment | 0 | 148 | 0 | 148 | 245 |
Loans Receivable, Ending balance | 0 | 0 | 0 | 0 | 0 |
Loans receivables: Ending balance: individually evaluated for impairment | 0 | 0 | 0 | 0 | 0 |
Loans Receivable: Ending balance: collectively evaluated for impairment | 0 | 0 | 0 | 0 | $ 0 |
Unallocated | Financing Receivable Excluding Unfunded Commitments | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Provisions (credits) | $ 0 | $ (351) | 0 | $ (233) | |
Unallocated | Impact of CECL adoption | |||||
Allowance for Loan Losses [Roll Forward] | |||||
Allowance for Loan Losses, Beginning balance | $ (245) |
Fair Value Measurements - Schedule of Fair Value Measurements (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
---|---|---|---|
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | $ 452,252 | $ 553,554 | |
Equity securities with readily determinable fair values | 915 | 1,719 | $ 2,609 |
Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 452,252 | 553,554 | |
Equity securities with readily determinable fair values | 0 | 0 | |
Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Equity securities with readily determinable fair values | 0 | 0 | |
U.S. Government and agencies | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 198,830 | 210,999 | |
Mortgage-backed securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 238,290 | 295,718 | |
State and municipal | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 15,235 | |
Corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 15,132 | 31,602 | |
Recurring | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Recurring | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 452,252 | 553,554 | |
Equity securities with readily determinable fair values | 0 | 0 | |
Recurring | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Equity securities with readily determinable fair values | 0 | 0 | |
Recurring | U.S. Government and agencies | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | U.S. Government and agencies | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 198,830 | 210,999 | |
Recurring | U.S. Government and agencies | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | Mortgage-backed securities | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | Mortgage-backed securities | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 238,290 | 295,718 | |
Recurring | Mortgage-backed securities | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | State and municipal | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | State and municipal | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 15,235 | |
Recurring | State and municipal | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | Corporate bonds | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Recurring | Corporate bonds | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 15,132 | 31,602 | |
Recurring | Corporate bonds | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 0 | |
Nonrecurring | Individually evaluated loans | Level 1 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Nonrecurring | Individually evaluated loans | Level 2 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 0 | 0 | |
Nonrecurring | Individually evaluated loans | Level 3 | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | 237 | 3,773 | |
Fair Value | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 452,252 | 553,554 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Fair Value | Recurring | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 452,252 | 553,554 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Fair Value | Recurring | U.S. Government and agencies | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 198,830 | 210,999 | |
Fair Value | Recurring | Mortgage-backed securities | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 238,290 | 295,718 | |
Fair Value | Recurring | State and municipal | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 0 | 15,235 | |
Fair Value | Recurring | Corporate bonds | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Debt securities available for sale | 15,132 | 31,602 | |
Fair Value | Nonrecurring | Individually evaluated loans | |||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | |||
Impaired loans | $ 237 | $ 3,773 |
Fair Value Measurements - Schedule of Additional Quantitative Information (Details) - Nonrecurring - Individually evaluated loans - Level 3 $ in Thousands |
Jun. 30, 2023
USD ($)
|
Dec. 31, 2022
USD ($)
|
---|---|---|
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Fair Value Estimate | $ 237 | $ 3,773 |
Measurement Input, Discount Rate | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Weighted Average | 0.91 | 0.48 |
Measurement Input, Discount Rate | Minimum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Weighted Average | 0.10 | 0.10 |
Measurement Input, Discount Rate | Maximum | ||
Fair Value Inputs, Assets, Quantitative Information [Line Items] | ||
Weighted Average | 0.50 | 0.50 |
Fair Value Measurements - Schedule of Carrying Amount, Fair Value and Placement in Fair Value Hierarchy (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
Dec. 31, 2021 |
---|---|---|---|
Financial assets: | |||
Interest-bearing deposits with banks | $ 59,145 | $ 128,094 | |
Equity securities with readily determinable fair values | 915 | 1,719 | $ 2,609 |
Debt securities available for sale | 452,252 | 553,554 | |
Securities held to maturity | 58,133 | 58,078 | |
Restricted investment in bank stocks | 4,877 | 1,629 | |
Level 1 | |||
Financial assets: | |||
Cash and due from banks | 6,620 | 6,977 | |
Interest-bearing deposits with banks | 59,145 | 128,094 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Debt securities available for sale | 0 | 0 | |
Securities held to maturity | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans, less allowance for credit losses | 0 | 0 | |
Accrued interest receivable | 0 | 0 | |
Restricted investment in bank stocks | 0 | 0 | |
Financial liabilities: | |||
Demand deposits and savings | 0 | 0 | |
Time deposits | 0 | 0 | |
Short-term sweep accounts | 0 | 0 | |
Short & long-term borrowings | 0 | 0 | |
Trust preferred and subordinated debt | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Off-balance sheet financial instruments | 0 | 0 | |
Level 2 | |||
Financial assets: | |||
Cash and due from banks | 18,278 | 33,090 | |
Interest-bearing deposits with banks | 0 | 0 | |
Equity securities with readily determinable fair values | 0 | 0 | |
Debt securities available for sale | 452,252 | 553,554 | |
Securities held to maturity | 58,133 | 58,078 | |
Loans held for sale | 0 | 123 | |
Loans, less allowance for credit losses | 0 | 0 | |
Accrued interest receivable | 6,702 | 6,915 | |
Restricted investment in bank stocks | 1,629 | ||
Financial liabilities: | |||
Demand deposits and savings | 1,752,296 | 1,905,845 | |
Time deposits | 197,480 | 276,182 | |
Short-term sweep accounts | 26,453 | 41,954 | |
Short & long-term borrowings | 85,350 | 0 | |
Trust preferred and subordinated debt | 17,962 | 18,648 | |
Accrued interest payable | 291 | 51 | |
Off-balance sheet financial instruments | 0 | 0 | |
Level 3 | |||
Financial assets: | |||
Cash and due from banks | 0 | 0 | |
Interest-bearing deposits with banks | 0 | 0 | |
Equity securities with readily determinable fair values | 0 | 0 | |
Debt securities available for sale | 0 | 0 | |
Securities held to maturity | 0 | 0 | |
Loans held for sale | 0 | 0 | |
Loans, less allowance for credit losses | 1,485,588 | 1,458,556 | |
Accrued interest receivable | 0 | 0 | |
Restricted investment in bank stocks | 0 | 0 | |
Financial liabilities: | |||
Demand deposits and savings | 0 | 0 | |
Time deposits | 0 | 0 | |
Short-term sweep accounts | 0 | 0 | |
Short & long-term borrowings | 0 | 0 | |
Trust preferred and subordinated debt | 0 | 0 | |
Accrued interest payable | 0 | 0 | |
Off-balance sheet financial instruments | 0 | 0 | |
Carrying Amount | |||
Financial assets: | |||
Cash and due from banks | 24,898 | 40,067 | |
Interest-bearing deposits with banks | 59,145 | 128,094 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Debt securities available for sale | 452,252 | 553,554 | |
Securities held to maturity | 64,926 | 64,977 | |
Loans held for sale | 0 | 123 | |
Loans, less allowance for credit losses | 1,554,669 | 1,520,749 | |
Accrued interest receivable | 6,702 | 6,915 | |
Restricted investment in bank stocks | 4,877 | 1,629 | |
Financial liabilities: | |||
Demand deposits and savings | 1,752,296 | 1,905,845 | |
Time deposits | 211,458 | 293,130 | |
Short-term sweep accounts | 26,703 | 41,954 | |
Short & long-term borrowings | 85,000 | 0 | |
Trust preferred and subordinated debt | 21,000 | 21,000 | |
Accrued interest payable | 291 | 51 | |
Off-balance sheet financial instruments | 0 | 0 | |
Fair Value | |||
Financial assets: | |||
Cash and due from banks | 24,898 | 40,067 | |
Interest-bearing deposits with banks | 59,145 | 128,094 | |
Equity securities with readily determinable fair values | 915 | 1,719 | |
Debt securities available for sale | 452,252 | 553,554 | |
Securities held to maturity | 58,133 | 58,078 | |
Loans held for sale | 0 | 123 | |
Loans, less allowance for credit losses | 1,485,588 | 1,458,556 | |
Accrued interest receivable | 6,702 | 6,915 | |
Restricted investment in bank stocks | 1,629 | ||
Financial liabilities: | |||
Demand deposits and savings | 1,752,296 | 1,905,845 | |
Time deposits | 197,480 | 276,182 | |
Short-term sweep accounts | 26,453 | 41,954 | |
Short & long-term borrowings | 85,350 | 0 | |
Trust preferred and subordinated debt | 17,962 | 18,648 | |
Accrued interest payable | 291 | 51 | |
Off-balance sheet financial instruments | $ 0 | $ 0 |
Deposits - Composition of Deposits (Details) - USD ($) $ in Thousands |
Jun. 30, 2023 |
Dec. 31, 2022 |
---|---|---|
Deposits [Abstract] | ||
Noninterest-bearing demand | $ 569,729 | $ 595,049 |
Interest-bearing checking, savings, and money markets | 1,182,567 | 1,310,796 |
Certificates of deposit of $250,000 or less | 177,475 | 241,562 |
Certificates of deposit greater than $250,000 | 33,983 | 51,568 |
Total Deposits | $ 1,963,754 | $ 2,198,975 |
Deposits - Time Deposit Maturities (Details) $ in Thousands |
Jun. 30, 2023
USD ($)
|
---|---|
Deposits [Abstract] | |
3 months or less | $ 54,402 |
Over 3 months through 12 months | 103,444 |
Over 1 year through 3 years | 47,242 |
Over 3 years | 6,370 |
Total | $ 211,458 |
Borrowings (Details) - USD ($) $ in Thousands |
3 Months Ended | |||
---|---|---|---|---|
Mar. 30, 2021 |
Jun. 30, 2023 |
Mar. 15, 2023 |
Dec. 31, 2022 |
|
Short-Term Debt [Line Items] | ||||
Short-term borrowings | $ 51,703 | $ 41,954 | ||
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | $ 81,000 | 21,000 | ||
Interest rate percentage | 5.63% | |||
Amount eligible to borrow from FHLB | $ 813,925 | |||
Amount available to borrow from FHLB | $ 728,692 | |||
Weighted average rate percentage | 4.40% | |||
FHLB Advances | ||||
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | $ 60,000 | 0 | ||
Subordinated debt | ||||
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | 15,000 | 15,000 | ||
Interest rate percentage | 4.00% | |||
Subordinated debt issued | $ 15,000 | |||
Debt Instrument, issuance price, percentage | 100.00% | |||
Subordinated debt | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate | ||||
Debt Instrument [Line Items] | ||||
Basis spread on prime rate, percentage | 3.29% | |||
Securities sold under agreements to repurchase | ||||
Short-Term Debt [Line Items] | ||||
Short-term borrowings | 26,703 | 41,954 | ||
FHLB Advances | ||||
Short-Term Debt [Line Items] | ||||
Short-term borrowings | 25,000 | 0 | ||
Trust preferred subordinated debt, FCBI | Subordinated debt | ||||
Debt Instrument [Line Items] | ||||
Long-term debt outstanding | 6,000 | $ 6,000 | ||
Subordinated debt issued | $ 6,000 | |||
Trust preferred subordinated debt, FCBI | Subordinated debt | London Interbank Offered Rate (LIBOR) | ||||
Debt Instrument [Line Items] | ||||
Interest rate percentage | 7.18% | |||
Basis spread on prime rate, percentage | 1.63% |
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