Allowance For Credit Losses (Tables)

3 Months Ended

Mar. 31, 2025

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 months ended March 31, 2025 and 2024 (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
Three months ended March 31, 2025
Commercial and industrial	$	4,541	$	(30)	$	37	$	213	$	4,761

1-4 Family	1,366		—		27		27		1,420
Hotels	2,355		(220)		—		(5)		2,130
Multi-family	1,390		—		—		19		1,409
Non Residential Non-Owner Occupied	3,001		—		3		152		3,156
Non Residential Owner Occupied	1,725		—		—		55		1,780
Commercial real estate	9,837		(220)		30		248		9,895

Residential real estate	5,731		—		1		(312)		5,420
Home equity	643		(1)		4		(53)		593
Consumer	381		(129)		9		26		287
DDA overdrafts	789		(379)		425		(122)		713
	$	21,922	$	(759)	$	506	$	—	$	21,669

	Beginning Balance		Charge-offs		Recoveries		Provision for (recovery of) credit losses		Ending Balance
Three months ended March 31, 2024
Commercial and industrial	$	4,474	$	(306)	$	25	$	82	$	4,275

1-4 Family	1,402		(31)		11		12		$	1,394
Hotels	2,211		—		—		46		$	2,257
Multi-family	1,002		—		—		(3)		$	999
Non Residential Non-Owner Occupied	4,077		—		—		(65)		$	4,012
Non Residential Owner Occupied	2,453		—		—		(32)		$	2,421
Commercial real estate	11,145		(31)		11		(42)		$	11,083

Residential real estate	5,398		(19)		49		(291)		$	5,137
Home equity	490		(27)		9		35		$	507
Consumer	269		(115)		98		174		$	426
DDA Overdrafts	969		(356)		407		(138)		$	882
	$	22,745	$	(854)	$	599	$	(180)	$	22,310

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 March 31, 2025 (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	$	539	$	2,242	$	—

1-4 Family	—		83		—
Hotels	1,794		—		—
Multi-family	—		—		—
Non Residential Non-Owner Occupied	—		314		—
Non Residential Owner Occupied	5,888		1,613		—
Commercial Real Estate	7,682		2,010		—

Residential Real Estate	—		3,226		—
Home Equity	—		269		26
Consumer	—		—		—
Total	$	8,221	$	7,747	$	26

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, 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	$	590	$	2,571	$	—

1-4 Family	—		134		—
Hotels	—		—		—
Multi-family	—		—		—
Non Residential Non-Owner Occupied	—		346		—
Non Residential Owner Occupied	6,012		1,341		—
Commercial Real Estate	6,012		1,821		—

Residential Real Estate	—		2,823		156
Home Equity	—		212		26
Consumer	—		—		—
Total	$	6,602	$	7,427	$	182

Financing Receivable, Past Due

The following tables present the aging of the amortized cost basis in past-due loans as of March 31, 2025 and December 31, 2024 by class of loan (in thousands):


	March 31, 2025
	30-59		60-89		90+		Total		Current		Non-		Total
	Past Due		Past Due		Past Due		Past Due		Loans		accrual		Loans
Commercial and industrial	$	4	$	—	$	—	$	4	$	420,480	$	2,781	$	423,265

1-4 Family	—		—		—		—		195,558		83		195,641
Hotels	—		—		—		—		370,964		1,794		372,758
Multi-family	152		—		—		152		215,394		—		215,546
Non Residential Non-Owner Occupied	—		—		—		—		742,009		314		742,323
Non Residential Owner Occupied	130		194		—		324		224,907		7,501		232,732
Commercial real estate	282		194		—		476		1,748,832		9,692		1,759,000

Residential real estate	4,858		1,078		—		5,936		1,832,689		3,226		1,841,851
Home Equity	807		59		26		892		202,092		269		203,253
Consumer	8		1		—		9		54,661		—		54,670
Overdrafts	210		4		—		214		3,571		—		3,785
Total	$	6,169	$	1,336	$	26	$	7,531	$	4,262,325	$	15,968	$	4,285,824


	December 31, 2024
	30-59		60-89		90+		Total		Current		Non-		Total
	Past Due		Past Due		Past Due		Past Due		Loans		accrual		Loans
Commercial and industrial	$	—	$	—	$	—	$	—	$	416,677	$	3,161	$	419,838

1-4 Family	106		—		—		106		197,018		134		197,258
Hotels	—		—		—		—		389,660		—		389,660
Multi-family	—		—		—		—		240,943		—		240,943
Non Residential Non-Owner Occupied	—		—		—		—		706,919		346		707,265
Non Residential Owner Occupied	134		—		—		134		226,010		7,353		233,497
Commercial real estate	240		—		—		240		1,760,550		7,833		1,768,623

Residential real estate	6,014		842		156		7,012		1,813,775		2,823		1,823,610
Home Equity	687		189		26		902		198,078		212		199,192
Consumer	145		128		—		273		57,543		—		57,816
Overdrafts	384		7		—		391		5,306		—		5,697
Total	$	7,470	$	1,166	$	182	$	8,818	$	4,251,929	$	14,029	$	4,274,776

Financing Receivable, Credit Quality Indicators

Based on the most recent analysis performed, the risk category of loans by class of loans at March 31, 2025 and December 31, 2024 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
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial and industrial
Pass	$	7,097	$	62,974	$	60,033	$	24,661	$	60,277	$	55,300	$	119,002	$	389,344
Special mention	—		60		4		—		—		—		—		64
Substandard	—		903		449		1,633		450		4,272		26,150		33,857
Total	$	7,097	$	63,937	$	60,486	$	26,294	$	60,727	$	59,572	$	145,152	$	423,265
YTD Gross Charge-offs	$	—	$	30	$	—	$	—	$	—	$	—	$	—	$	30



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial and industrial
Pass	$	65,161	$	63,650	$	26,201	$	62,445	$	36,440	$	21,148	$	109,869	$	384,914
Special mention	60		5		—		—		—		—		—		65
Substandard	1,134		452		1,926		548		2,449		2,051		26,299		34,859
Total	$	66,355	$	64,107	$	28,127	$	62,993	$	38,889	$	23,199	$	136,168	$	419,838



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial real estate -
1-4 Family
Pass	$	5,325	$	38,658	$	25,594	$	37,914	$	27,123	$	46,657	$	9,872	$	191,143
Special mention	—		—		—		527		—		703		—		1,230
Substandard	—		—		—		1,650		409		1,209		—		3,268
Total	$	5,325	$	38,658	$	25,594	$	40,091	$	27,532	$	48,569	$	9,872	$	195,641
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
1-4 Family
Pass	$	39,992	$	28,545	$	38,562	$	27,846	$	18,218	$	29,102	$	10,011	$	192,276
Special mention	—		—		180		—		842		613		—		1,635
Substandard	—		—		1,688		411		312		936		—		3,347
Total	$	39,992	$	28,545	$	40,430	$	28,257	$	19,372	$	30,651	$	10,011	$	197,258


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial real estate -
Hotels
Pass	$	—	$	46,793	$	48,536	$	77,271	$	30,548	$	145,023	$	—	$	348,171
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		24,587		—		24,587
Total	$	—	$	46,793	$	48,536	$	77,271	$	30,548	$	169,610	$	—	$	372,758
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	220	$	—	$	220



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Hotels
Pass	$	46,980	$	48,278	$	78,225	$	31,161	$	6,742	$	152,896	$	288	$	364,570
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		—		—		25,090		—		25,090
Total	$	46,980	$	48,278	$	78,225	$	31,161	$	6,742	$	177,986	$	288	$	389,660



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial real estate -
Multi-family
Pass	$	18,437	$	48,863	$	7,080	$	18,078	$	18,977	$	100,882	$	2,234	$	214,551
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		—		540		455		—		—		995
Total	$	18,437	$	48,863	$	7,080	$	18,618	$	19,432	$	100,882	$	2,234	$	215,546
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Multi-family
Pass	$	73,914	$	6,939	$	18,191	$	19,174	$	56,587	$	63,314	$	1,825	$	239,944
Special mention	—		—		—		—		—		—		—		—
Substandard	—		—		542		457		—		—		—		999
Total	$	73,914	$	6,939	$	18,733	$	19,631	$	56,587	$	63,314	$	1,825	$	240,943


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Non-Owner Occupied
Pass	$	39,330	$	79,414	$	108,472	$	114,636	$	90,664	$	261,947	$	19,561	$	714,024
Special mention	—		—		—		543		89		24,457		—		25,089
Substandard	—		71		—		—		138		3,001		—		3,210
Total	$	39,330	$	79,485	$	108,472	$	115,179	$	90,891	$	289,405	$	19,561	$	742,323
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Non-Owner Occupied
Pass	$	76,051	$	110,212	$	115,753	$	92,783	$	53,513	$	213,886	$	16,284	$	678,482
Special mention	—		—		839		92		486		24,108		—		25,525
Substandard	73		15		—		139		—		3,031		—		3,258
Total	$	76,124	$	110,227	$	116,592	$	93,014	$	53,999	$	241,025	$	16,284	$	707,265



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Owner Occupied
Pass	$	8,531	$	22,485	$	43,541	$	28,267	$	35,762	$	68,974	$	4,481	$	212,041
Special mention	—		—		—		—		—		2,012		—		2,012
Substandard	—		464		4,006		826		1,925		11,116		342		18,679
Total	$	8,531	$	22,949	$	47,547	$	29,093	$	37,687	$	82,102	$	4,823	$	232,732
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Non Residential Owner Occupied
Pass	$	23,376	$	45,011	$	28,830	$	38,061	$	15,154	$	58,846	$	3,938	$	213,216
Special mention	—		—		—		—		—		2,029		—		2,029
Substandard	—		3,713		842		1,950		1,167		10,221		359		18,252
Total	$	23,376	$	48,724	$	29,672	$	40,011	$	16,321	$	71,096	$	4,297	$	233,497


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Commercial real estate -
Total
Pass	$	71,622	$	236,214	$	233,224	$	276,166	$	203,074	$	623,482	$	36,149	$	1,679,931
Special mention	—		—		—		1,070		89		27,173		—		28,332
Substandard	—		535		4,006		3,016		2,926		39,912		342		50,737
Total	$	71,622	$	236,749	$	237,230	$	280,252	$	206,089	$	690,567	$	36,491	$	1,759,000
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	220	$	—	$	220


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Commercial real estate -
Total
Pass	$	260,313	$	238,984	$	279,562	$	209,025	$	150,213	$	518,042	$	32,346	$	1,688,485
Special mention	—		—		1,019		92		1,327		26,751		—		29,189
Substandard	73		3,728		3,073		2,958		1,479		39,279		359		50,949
Total	$	260,386	$	242,712	$	283,654	$	212,075	$	153,019	$	584,072	$	32,705	$	1,768,623


													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Residential real estate
Performing	$	56,385	$	223,578	$	205,431	$	348,429	$	277,880	$	658,455	$	68,467	$	1,838,625
Non-performing	—		176		—		121		762		1,797		370		3,226
Total	$	56,385	$	223,754	$	205,431	$	348,550	$	278,642	$	660,252	$	68,837	$	1,841,851
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	—

													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Residential real estate
Performing	$	230,045	$	209,641	$	355,495	$	283,509	$	223,004	$	451,144	$	67,949	$	1,820,787
Non-performing	$	179	$	91	$	44	$	628	$	—	$	1,521	$	360	$	2,823
Total	$	230,224	$	209,732	$	355,539	$	284,137	$	223,004	$	452,665	$	68,309	$	1,823,610



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Home equity
Performing	$	4,732	$	31,181	$	24,174	$	10,572	$	4,924	$	8,752	$	118,649	$	202,984
Non-performing	—		—		—		—		—		—		269		269
Total	$	4,732	$	31,181	$	24,174	$	10,572	$	4,924	$	8,752	$	118,918	$	203,253
YTD Gross Charge-offs	$	—	$	—	$	—	$	—	$	—	$	—	$	1	$	1



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Home equity
Performing	$	31,751	$	25,164	$	11,344	$	5,232	$	2,832	$	7,346	$	115,311	$	198,980
Non-performing	—		—		—		—		—		—		212		212
Total	$	31,751	$	25,164	$	11,344	$	5,232	$	2,832	$	7,346	$	115,523	$	199,192



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
March 31, 2025	2025		2024		2023		2022		2021		Prior		Cost Basis		Total
Consumer
Performing	$	4,125	$	15,164	$	18,907	$	10,255	$	1,996	$	2,188	$	2,035	$	54,670
Non-performing	—		—		—		—		—		—		—		—
Total	$	4,125	$	15,164	$	18,907	$	10,255	$	1,996	$	2,188	$	2,035	$	54,670
YTD Gross Charge-offs	$	—	$	15	$	13	$	83	$	—	$	15	$	3	$	129



													Revolving
	Term Loans												Loans
	Amortized Cost Basis by Origination Year and Risk Level												Amortized
December 31, 2024	2024		2023		2022		2021		2020		Prior		Cost Basis		Total
Consumer
Performing	$	17,621	$	21,062	$	11,628	$	2,374	$	1,456	$	1,180	$	2,495	$	57,816
Non-performing	—		—		—		—		—		—		—		—
Total	$	17,621	$	21,062	$	11,628	$	2,374	$	1,456	$	1,180	$	2,495	$	57,816