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Allowance For Credit Losses (Tables)

6 Months Ended

Jun. 30, 2024

Financing Receivable, Allowance for Credit Loss

The following tables summarize the activity in the allowance for credit losses, by portfolio loan classification, for the three and six months ended June 30, 2024 and 2023 (in thousands). The allocation of a portion of the allowance in one portfolio segment does not preclude its availability to absorb losses in other portfolio segments.


	Beginning Balance		Charge-offs		Recoveries		Provision for (recovery of) credit losses		Ending Balance
Six months ended June 30, 2024
Commercial and industrial	$	4,474	$	(367)	$	63	$	62	$	4,232

1-4 Family	1,402		(68)		23		5		$	1,362
Hotels	2,211		—		—		217		$	2,428
Multi-family	1,002		—		—		(11)		$	991
Non Residential Non-Owner Occupied	4,077		(3)		3		(283)		$	3,794
Non Residential Owner Occupied	2,453		—		150		(206)		$	2,397
Commercial real estate	11,145		(71)		176		(278)		10,972

Residential real estate	5,398		(305)		228		400		$	5,721
Home equity	490		(148)		47		181		$	570
Consumer	269		(135)		122		121		$	377
DDA overdrafts	969		(729)		742		(166)		$	816
	$	22,745	$	(1,755)	$	1,378	$	320	$	22,688

	Beginning Balance		Impact of Adopting ASU 2022-02		PCD Loan Reserves		Charge-offs		Recoveries		Provision for (recovery of) credit losses		Ending Balance
Six months ended June 30, 2023
Commercial and industrial	$	3,568	$	12	$	—	$	(69)	$	169	$	650	$	4,330

1-4 Family	566		(1)		—		(80)		30		83		598
Hotels	2,332		—		—		(40)		—		(159)		2,133
Multi-family	380		—		500		—		—		129		1,009
Non Residential Non-Owner Occupied	2,019		—		1,536		—		156		1,075		4,786
Non Residential Owner Occupied	1,315		—		775		—		—		288		2,378
Commercial real estate	6,612		(1)		2,811		(120)		186		1,416		10,904

Residential real estate	5,427		(138)		—		(52)		15		321		5,573
Home equity	290		(46)		—		(267)		16		415		408
Consumer	110		(2)		—		(171)		51		346		334
DDA Overdrafts	1,101		—		—		(807)		713		195		1,202
	$	17,108	$	(175)	$	2,811	$	(1,486)	$	1,150	$	3,343	$	22,751


	Beginning Balance		Charge-offs		Recoveries		Provision for (recovery of) credit losses		Ending Balance
Three months ended June 30, 2024
Commercial and industrial	$	4,275	$	(61)	$	38	$	(20)	$	4,232

1-4 Family	1,394		(37)		12		(7)		1,362
Hotels	2,257		—		—		171		2,428
Multi-family	999		—		—		(8)		991
Non Residential Non-Owner Occupied	4,012		(3)		3		(218)		3,794
Non Residential Owner Occupied	2,421		—		150		(174)		2,397
Commercial real estate	11,083		(40)		165		(236)		10,972

Residential real estate	5,137		(286)		179		691		5,721
Home equity	507		(121)		38		146		570
Consumer	426		(20)		24		(53)		377
DDA overdrafts	882		(373)		335		(28)		816
	$	22,310	$	(901)	$	779	$	500	$	22,688

Three months ended June 30, 2023
Commercial and industrial	$	4,289	$	(69)	$	86	$	24	$	4,330

1-4 Family	613		(77)		16		46		598
Hotels	2,184		(40)		—		(11)		2,133
Multi-family	1,027		—		—		(18)		1,009
Non Residential Non-Owner Occupied	4,924		—		12		(150)		4,786
Non Residential Owner Occupied	2,437		—		—		(59)		2,378
Commercial real estate	11,185		(117)		28		(192)		10,904

Residential real estate	5,481		(20)		5		107		5,573
Home equity	400		(200)		12		196		408
Consumer	371		(109)		28		44		334
DDA Overdrafts	998		(357)		315		246		1,202
	$	22,724	$	(872)	$	474	$	425	$	22,751

Financing Receivable, Nonaccrual

The following table presents the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of June 30, 2024 (in thousands):


	Non-accrual With No		Non-accrual With		Loans Past Due
	Allowance for		Allowance for		Over 90 Days
	Credit Losses		Credit Losses		Still Accruing
Commercial & Industrial	$	—	$	3,135	$	—

1-4 Family	—		511		—
Hotels	—		—		—
Multi-family	—		—		—
Non Residential Non-Owner Occupied	—		392		—
Non Residential Owner Occupied	—		2,215		—
Commercial Real Estate	—		3,118		—

Residential Real Estate	—		3,214		18
Home Equity	—		63		32
Consumer	—		—		—
Total	$	—	$	9,530	$	50

The following table presents the amortized cost basis of loans on non-accrual status and loans past due over 90 days still accruing as of December 31, 2023 (in thousands):


	Non-accrual With No		Non-accrual With		Loans Past Due
	Allowance for		Allowance for		Over 90 Days
	Credit Losses		Credit Losses		Still Accruing
Commercial & Industrial	$	1,000	$	1,211	$	—

1-4 Family	—		521		—
Hotels	—		—		—
Multi-family	—		—		—
Non Residential Non-Owner Occupied	—		446		—
Non Residential Owner Occupied	—		1,420		—
Commercial Real Estate	—		2,387		—

Residential Real Estate	—		2,849		214
Home Equity	—		111		56
Consumer	—		—		—
Total	$	1,000	$	6,558	$	270

Financing Receivable, Past Due

The following tables present the aging of the amortized cost basis in past-due loans as of June 30, 2024 and December 31, 2023 by class of loan (in thousands):


	June 30, 2024
	30-59		60-89		90+		Total		Current		Non-		Total
	Past Due		Past Due		Past Due		Past Due		Loans		accrual		Loans
Commercial and industrial	$	1,087	$	—	$	—	$	1,087	$	404,090	$	3,135	$	408,312

1-4 Family	—		—		—		—		195,481		511		195,992
Hotels	—		—		—		—		370,954		—		370,954
Multi-family	—		—		—		—		190,390		—		190,390
Non Residential Non-Owner Occupied	—		—		—		—		667,938		392		668,330
Non Residential Owner Occupied	565		—		—		565		233,213		2,215		235,993
Commercial real estate	565		—		—		565		1,657,976		3,118		1,661,659

Residential real estate	7,154		819		18		7,991		1,786,055		3,214		1,797,260
Home Equity	685		102		32		819		178,725		63		179,607
Consumer	82		15		—		97		62,255		—		62,352
Overdrafts	323		4		—		327		3,356		—		3,683
Total	$	9,896	$	940	$	50	$	10,886	$	4,092,457	$	9,530	$	4,112,873


	December 31, 2023
	30-59		60-89		90+		Total		Current		Non-		Total
	Past Due		Past Due		Past Due		Past Due		Loans		accrual		Loans
Commercial and industrial	$	185	$	250	$	—	$	435	$	424,305	$	2,211	$	426,951

1-4 Family	67		25		—		92		205,624		521		206,237
Hotels	—		—		—		—		357,142		—		357,142
Multi-family	—		—		—		—		189,165		—		189,165
Non Residential Non-Owner Occupied	—		—		—		—		680,144		446		680,590
Non Residential Owner Occupied	623		—		—		623		238,285		1,420		240,328
Commercial real estate	690		25		—		715		1,670,360		2,387		1,673,462

Residential real estate	7,034		811		214		8,059		1,777,241		2,849		1,788,149
Home Equity	1,020		159		56		1,235		165,855		111		167,201
Consumer	129		—		—		129		65,117		—		65,246
Overdrafts	355		9		—		364		4,550		—		4,914
Total	$	9,413	$	1,254	$	270	$	10,937	$	4,107,428	$	7,558	$	4,125,923

Financing Receivable, Credit Quality Indicators

Based on the most recent analysis performed, the risk category of loans by class of loans at June 30, 2024 and December 31, 2023 is as follows (in thousands), with the loans acquired from Citizens categorized by their origination date:


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial and industrial
Pass	$	33,449	$	67,212	$	34,966	$	69,107	$	39,615	$	33,908	$	95,411	$	373,668
Special mention	—		—		—		—		—		6		—		6
Substandard	594		532		2,500		650		2,829		2,332		25,201		34,638
Total	$	34,043	$	67,744	$	37,466	$	69,757	$	42,444	$	36,246	$	120,612	$	408,312
YTD Gross Charge-offs	$	—	$	—	$	—	$	69	$	—	$	48	$	250	$	367



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial and industrial
Pass	$	70,494	$	47,473	$	76,605	$	47,688	$	21,820	$	18,328	$	111,546	$	393,954
Special mention	—		33		—		2,600		22		—		70		2,725
Substandard	379		2,748		854		775		923		1,538		23,055		30,272
Total	$	70,873	$	50,254	$	77,459	$	51,063	$	22,765	$	19,866	$	134,671	$	426,951



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
1-4 Family
Pass	$	17,866	$	34,254	$	43,102	$	29,922	$	19,365	$	36,133	$	11,110	$	191,752
Special mention	—		556		433		—		910		638		249		2,786
Substandard	—		—		74		—		244		1,136		—		1,454
Total	$	17,866	$	34,810	$	43,609	$	29,922	$	20,519	$	37,907	$	11,359	$	195,992
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	68	$	—	$	68



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
1-4 Family
Pass	$	38,143	$	53,907	$	32,058	$	21,363	$	12,073	$	29,846	$	13,967	$	201,357
Special mention	565		451		—		1,167		—		730		250		3,163
Substandard	—		77		—		250		131		1,259		—		1,717
Total	$	38,708	$	54,435	$	32,058	$	22,780	$	12,204	$	31,835	$	14,217	$	206,237


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Hotels
Pass	$	20,819	$	47,272	$	80,386	$	32,366	$	3,085	$	157,213	$	297	$	341,438
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		3,964		25,552		—		29,516
Total	$	20,819	$	47,272	$	80,386	$	32,366	$	7,049	$	182,765	$	297	$	370,954
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Hotels
Pass	$	47,739	$	82,200	$	33,560	$	3,327	$	58,384	$	101,740	$	305	$	327,255
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		4,020		23,604		2,263		—		29,887
Total	$	47,739	$	82,200	$	33,560	$	7,347	$	81,988	$	104,003	$	305	$	357,142



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Multi-family
Pass	$	5,544	$	7,138	$	28,646	$	24,200	$	57,529	$	66,009	$	1,324	$	190,390
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Total	$	5,544	$	7,138	$	28,646	$	24,200	$	57,529	$	66,009	$	1,324	$	190,390
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Multi-family
Pass	$	6,925	$	21,320	$	28,268	$	63,750	$	38,007	$	29,814	$	1,081	$	189,165
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		—		—		—
Total	$	6,925	$	21,320	$	28,268	$	63,750	$	38,007	$	29,814	$	1,081	$	189,165






													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Non-Owner Occupied
Pass	$	13,227	$	112,157	$	117,880	$	95,691	$	55,526	$	223,500	$	19,246	$	637,227
Special mention	—		—		—		97		645		24,545		—		25,287
Substandard	76		—		—		143		2,197		3,400		—		5,816
Total	$	13,303	$	112,157	$	117,880	$	95,931	$	58,368	$	251,445	$	19,246	$	668,330
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	3	$	—	$	3



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Non-Owner Occupied
Pass	$	117,515	$	119,382	$	99,210	$	59,083	$	64,332	$	156,941	$	32,111	$	648,574
Special mention	—		—		102		731		165		24,747		—		25,745
Substandard	—		—		145		2,395		79		3,652		—		6,271
Total	$	117,515	$	119,382	$	99,457	$	62,209	$	64,576	$	185,340	$	32,111	$	680,590



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Owner Occupied
Pass	$	9,712	$	46,748	$	29,680	$	39,725	$	15,832	$	66,863	$	3,420	$	211,980
Special mention	—		—		—		152		—		3,183		87		3,422
Substandard	—		3,857		873		1,966		1,175		12,357		363		20,591
Total	$	9,712	$	50,605	$	30,553	$	41,843	$	17,007	$	82,403	$	3,870	$	235,993
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Owner Occupied
Pass	$	41,481	$	34,320	$	42,203	$	16,990	$	21,772	$	52,363	$	6,060	$	215,189
Special mention	—		—		164		—		2,880		431		188		3,663
Substandard	3,957		909		2,010		1,212		1,335		11,792		261		21,476
Total	$	45,438	$	35,229	$	44,377	$	18,202	$	25,987	$	64,586	$	6,509	$	240,328


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Total
Pass	$	67,168	$	247,568	$	299,694	$	221,904	$	151,337	$	549,717	$	35,396	$	1,572,784
Special mention	—		556		433		249		1,556		28,366		336		31,496
Substandard	76		3,857		947		2,109		7,581		42,445		364		57,379
Total	$	67,244	$	251,981	$	301,074	$	224,262	$	160,474	$	620,528	$	36,096	$	1,661,659
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	71	$	—	$	71


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Commercial real estate -
Total
Pass	$	251,802	$	311,129	$	235,298	$	164,514	$	194,569	$	370,704	$	53,522	$	1,581,538
Special mention	565		451		266		1,898		3,045		25,909		438		32,572
Substandard	3,957		986		2,155		7,877		25,148		18,968		261		59,352
Total	$	256,324	$	312,566	$	237,719	$	174,289	$	222,762	$	415,581	$	54,221	$	1,673,462


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Residential real estate
Performing	$	103,664	$	220,559	$	374,506	$	300,066	$	236,034	$	488,930	$	70,786	$	1,794,545
Non-performing	—		—		418		—		421		1,718		158		2,715
Total	$	103,664	$	220,559	$	374,924	$	300,066	$	236,455	$	490,648	$	70,944	$	1,797,260
YTD Gross Charge-offs	$	—	$	—	$	34	$	—	$	—	$	161	$	110	$	305

													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Residential real estate
Performing	$	234,802	$	392,865	$	314,617	$	250,030	$	109,736	$	410,925	$	72,324	$	1,785,299
Non-performing	$	161	$	119	$	183	$	26	$	713	$	1,349	$	299	$	2,850
Total	$	234,963	$	392,984	$	314,800	$	250,056	$	110,449	$	412,274	$	72,623	$	1,788,149



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Home equity
Performing	$	14,470	$	27,556	$	12,799	$	5,616	$	3,241	$	6,981	$	108,382	$	179,045
Non-performing	—		—		—		—		14		—		548		562
Total	$	14,470	$	27,556	$	12,799	$	5,616	$	3,255	$	6,981	$	108,930	$	179,607
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	129	$	19	$	148



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Home equity
Performing	$	29,611	$	13,921	$	6,218	$	3,826	$	2,510	$	5,108	$	105,896	$	167,090
Non-performing	—		—		—		14		—		—		97		111
Total	$	29,611	$	13,921	$	6,218	$	3,840	$	2,510	$	5,108	$	105,993	$	167,201



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
June 30, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Consumer
Performing	$	11,544	$	26,218	$	14,431	$	3,412	$	2,226	$	2,476	$	2,045	$	62,352
Non-performing	—		—		—		—		—		—		—		—
Total	$	11,544	$	26,218	$	14,431	$	3,412	$	2,226	$	2,476	$	2,045	$	62,352
YTD Gross Charge-offs	$	—	$	21	$	29	$	—	$	10	$	74	$	1	$	135



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2023	2023		2022		2021		2020		2019		Prior		Cost Basis		Total
Consumer
Performing	$	33,700	$	18,293	$	4,531	$	3,148	$	2,120	$	1,645	$	1,809	$	65,246
Non-performing	—		—		—		—		—		—		—		—
Total	$	33,700	$	18,293	$	4,531	$	3,148	$	2,120	$	1,645	$	1,809	$	65,246