XML 77 R35.htm IDEA: XBRL DOCUMENT v3.25.4
Loans (Tables)
 12 Months Ended
Dec. 31, 2025
Receivables [Abstract]  
Summary of Loans
The following table presents a summary of loans:
(Dollars in thousands)
December 31,20252024
Commercial:
Commercial real estate (1)
$2,183,985 $2,154,504 
Commercial & industrial (2)
564,082 542,474 
Total commercial2,748,067 2,696,978 
Residential Real Estate:
Residential real estate (3)
2,050,399 2,126,171 
Consumer:
Home equity318,862 297,119 
Other (4)
17,060 17,570 
Total consumer335,922 314,689 
Total loans (5)
$5,134,388 $5,137,838 
(1)CRE consists of commercial mortgages primarily secured by non-owner occupied income-producing property, as well as construction and development loans. Construction and development loans are made to businesses for land development or the on-site construction of industrial, commercial, or residential buildings.
(2)C&I consists of loans to businesses and individuals, a portion of which are fully or partially collateralized by real estate.
(3)Residential real estate consists of mortgage and homeowner construction loans secured by one- to four-family residential properties. Also, includes a negative basis adjustment associated with fair value hedges of $335 thousand and $1.5 million, respectively, at December 31, 2025 and 2024. See Note 9 for additional disclosure.
(4)Other consists of loans to individuals secured by general aviation aircraft and other personal installment loans.
(5)Includes net unamortized loan origination costs of $11.0 million and $10.9 million, respectively, at December 31, 2025 and 2024 and net unamortized premiums on loans purchased from and serviced by other financial institutions of $198 thousand and $242 thousand, respectively, at December 31, 2025 and 2024.
Past Due Loans The following tables present an aging analysis of past due loans, segregated by class of loans:
(Dollars in thousands)Days Past Due
December 31, 2025Current30-5960-8990 or MoreTotal Past DueTotal Loans
Commercial:
Commercial real estate
$2,183,337 $648 $— $— $648 $2,183,985 
Commercial & industrial
564,075 7 — — 7 564,082 
Total commercial2,747,412 655 — — 655 2,748,067 
Residential Real Estate:
Residential real estate
2,041,304 3,533 2,560 3,002 9,095 2,050,399 
Consumer:
Home equity
317,255 1,095 166 346 1,607 318,862 
Other
17,034 26 — — 26 17,060 
Total consumer334,289 1,121 166 346 1,633 335,922 
Total loans$5,123,005 $5,309 $2,726 $3,348 $11,383 $5,134,388 

(Dollars in thousands)Days Past Due
December 31, 2024Current30-5960-8990 or MoreTotal Past DueTotal Loans
Commercial:
Commercial real estate
$2,154,504 $— $— $— $— $2,154,504 
Commercial & industrial
541,574 518 382 — 900 542,474 
Total commercial2,696,078 518 382 — 900 2,696,978 
Residential Real Estate:
Residential real estate
2,118,430 3,476 1,892 2,373 7,741 2,126,171 
Consumer:
Home equity
294,172 1,630 410 907 2,947 297,119 
Other
17,176 44 350 — 394 17,570 
Total consumer311,348 1,674 760 907 3,341 314,689 
Total loans$5,125,856 $5,668 $3,034 $3,280 $11,982 $5,137,838 
Nonaccrual Loans
The following is a summary of nonaccrual loans, segregated by class of loans:
(Dollars in thousands)
December 31, 2025December 31, 2024
Nonaccrual LoansNonaccrual Loans
With an ACLWithout an ACLTotalWith an ACLWithout an ACLTotal
Commercial:
Commercial real estate
$— $— $— $10,053 $— $10,053 
Commercial & industrial
— — — 515 — 515 
Total commercial— — — 10,568 — 10,568 
Residential Real Estate:
Residential real estate
9,830 1,269 11,099 9,743 1,024 10,767 
Consumer:
Home equity
1,824 — 1,824 1,972 — 1,972 
Other
— — — — — — 
Total consumer1,824 — 1,824 1,972 — 1,972 
Total nonaccrual loans$11,654 $1,269 $12,923 $22,283 $1,024 $23,307 
Accruing loans 90 days or more past due$— $— 
The following table presents interest income recognized on nonaccrual loans:
(Dollars in thousands)Interest Income Recognized
Years Ended December 31,202520242023
Commercial:
Commercial real estate$— $197 $2,719 
Commercial & industrial— 8 59 
Total commercial— 205 2,778 
Residential Real Estate:
Residential real estate489 542 466 
Consumer:
Home equity157 161 107 
Other— — 4 
Total consumer157 161 111 
Total$646 $908 $3,355 
Summary of TLMs
The following table presents the carrying value at December 31, 2025, of TLMs made during the year, segregated by class of loans and type of concession granted:
(Dollars in thousands)

Other-than-Insignificant Payment DelayTotal
% of Total Loan Class (1)
Commercial:
Commercial real estate$5,605$5,605—%
Commercial & industrial——— 
Total commercial5,6055,605— 
Residential Real Estate:
Residential real estate2,3102,310—
Total$7,915$7,915—%
(1)Percentage of TLMs to the total loans outstanding within the respective loan class.

The following table presents the carrying value at December 31, 2024, of TLMs made during the year, segregated by class of loans and type of concession granted:
(Dollars in thousands)
Maturity ExtensionOther-than-Insignificant Payment Delay
Combination (1)
Total
% of Total Loan Class (2)
Commercial:
Commercial real estate$3,340$—$6,713$10,053—%
Commercial & industrial5155,000—5,5151 
Total commercial3,8555,0006,71315,5681 
Residential Real Estate:
Residential real estate—260—260—
Total$3,855$5,260$6,713$15,828—%
(1)Combination includes an interest rate reduction, payment deferral and maturity extension.
(2)Percentage of TLMs to the total loans outstanding within the respective loan class.
The following tables present the financial effect of TLMs made during the periods indicated, segregated by class of loans:

Year ended December 31, 2025
Financial Effect
Other-than-Insignificant Payment Delay:
Commercial real estate
Provided payment delay for a weighted average period of 6 months
Residential real estate
Provided payment delay for a weighted average period of 6 months


Year ended December 31, 2024
Financial Effect
Interest Rate Reduction:
Commercial real estate
Provided interest rate reduction by a weighted average rate of 3%
Maturity Extension:
Commercial real estate
Provided maturity extension for a weighted average period of 12 months
Commercial & industrial
Provided maturity extension for a weighted average period of 120 months
Other-than-Insignificant Payment Delay:
Commercial real estate
Provided payment delay for a weighted average period of 5 months
Commercial & industrial
Provided payment delay for a weighted average period of 12 months
Residential real estate
Provided payment delay for a weighted average period of 6 months
Aging of TLMs
Management closely monitors the performance of TLMs to understand the effectiveness of the modifications. As of the dates indicated, the following table presents an aging analysis of TLMs that have been modified in the past 12 months:
(Dollars in thousands)Days Past Due
December 31, 2025Current30-5960-89Over 90Total Past DueTotal Loans
Commercial:
Commercial real estate
$5,605 $— $— $— $— $5,605 
Commercial & industrial
— — — — — — 
Total commercial5,605 — — — — 5,605 
Residential Real Estate:
Residential real estate
2,047 263 — — 263 2,310 
Total loans$7,652 $263 $— $— $263 $7,915 

At December 31, 2025, a $263 thousand residential real estate loan, which was modified as a TLM in the previous 12 months, had a subsequent payment default.

(Dollars in thousands)Days Past Due
December 31, 2024Current30-5960-89Over 90Total Past DueTotal Loans
Commercial:
Commercial real estate
$10,053 $— $— $— $— $10,053 
Commercial & industrial
5,000 515 — — 515 5,515 
Total commercial15,053 515 — — 515 15,568 
Residential Real Estate:
Residential real estate
260 — — — — 260 
Total loans$15,313 $515 $— $— $515 $15,828 
Collateral Dependent Individually Analyzed Loans
The following table presents the carrying value of collateral dependent individually analyzed loans:
(Dollars in thousands)
December 31, 2025
December 31, 2024
Carrying ValueRelated AllowanceCarrying ValueRelated Allowance
Commercial:
Commercial real estate (1)
$5,605 $— $10,053 $1,252 
Commercial & industrial (2)
— — 515 259 
Total commercial5,605 — 10,568 1,511 
Residential Real Estate:
Residential real estate (3)
1,903 — 1,023 — 
Total$7,508 $— $11,591 $1,511 
(1)    Secured by income-producing property.
(2)    Secured by business assets.
(3)    Secured by one- to four-family residential properties.
Credit Quality Indicators
The following table includes information on credit quality indicators and gross charge-offs for the Corporation’s loan portfolio, segregated by class of loans as of December 31, 2025:
(Dollars in thousands)Term Loans Amortized Cost by Origination Year
20252024202320222021PriorRevolving Loans Amortized CostRevolving Loans Converted to Term LoansTotal
Commercial:
CRE:
Pass $432,404 $102,312 $338,922 $490,011 $302,383 $438,112 $9,426 $942 $2,114,512 
Special mention33,416 — — 27,743 — 2,157 — — 63,316 
Classified— — — — — 6,157 — — 6,157 
Total CRE
465,820 102,312 338,922 517,754 302,383 446,426 9,426 942 2,183,985 
Gross charge-offs— — — — — 5,715 — — 5,715 
C&I:
Pass
87,523 39,556 54,047 125,846 20,057 159,707 58,146 315 545,197 
Special mention3,569 788 — 3,442 1,095 3,865 6,000 — 18,759 
Classified
— — — — 126 — — — 126 
Total C&I
91,092 40,344 54,047 129,288 21,278 163,572 64,146 315 564,082 
Gross charge-offs49 — 8,345 — — 299 — — 8,693 
Residential Real Estate:
Current (1)
161,291 50,709 332,253 690,150 345,038 462,198 — — 2,041,639 
Past due— — — — 543 8,552 — — 9,095 
Total residential real estate161,291 50,709 332,253 690,150 345,581 470,750 — — 2,050,734 
Gross charge-offs— — — — — — — — — 
Consumer:
Home equity:
Current16,839 10,508 14,662 9,969 5,190 6,086 238,734 15,267 317,255 
Past due— 34 58 — 137 223 814 341 1,607 
Total home equity16,839 10,542 14,720 9,969 5,327 6,309 239,548 15,608 318,862 
Gross charge-offs— — — — — — — — — 
Other:
Current4,295 2,588 3,366 1,790 1,616 3,123 256 — 17,034 
Past due26 — — — — — — — 26 
Total other4,321 2,588 3,366 1,790 1,616 3,123 256 — 17,060 
Gross charge-offs323 — 1 — — 3 — — 327 
Totals:
Loans, amortized cost$739,363 $206,495 $743,308 $1,348,951 $676,185 $1,090,180 $313,376 $16,865 $5,134,723 
Gross charge-offs$372 $— $8,346 $— $— $6,017 $— $— $14,735 
(1)Excludes a $335 thousand negative basis adjustment associated with fair value hedges. See Note 9 for additional disclosure.
The following table includes information on credit quality indicators and gross charge-offs for the Corporation’s loan portfolio, segregated by class of loans as of December 31, 2024:
(Dollars in thousands)Term Loans Amortized Cost by Origination Year
20242023202220212020PriorRevolving Loans Amortized CostRevolving Loans Converted to Term LoansTotal
Commercial:
CRE:
Pass $172,931 $432,763 $598,805 $362,292 $125,834 $405,381 $9,879 $989 $2,108,874 
Special mention— 6,116 — — — 2,237 — — 8,353 
Classified31,010 — — — — 6,267 — — 37,277 
Total CRE
203,941 438,879 598,805 362,292 125,834 413,885 9,879 989 2,154,504 
Gross charge-offs— — — — — 1,961 — — 1,961 
C&I:
Pass 38,128 51,162 136,449 23,474 36,954 159,522 76,857 469 523,015 
Special mention— — 3,593 1,172 1,398 6,428 5,381 — 17,972 
Classified811 — — 161 — 515 — — 1,487 
Total C&I
38,939 51,162 140,042 24,807 38,352 166,465 82,238 469 542,474 
Gross charge-offs33 — — — — 175 — — 208 
Residential Real Estate:
Current (1)
74,458 383,983 746,566 375,848 173,676 365,380 — — 2,119,911 
Past due— 287 1,434 — 1,290 4,730 — — 7,741 
Total residential real estate74,458 384,270 748,000 375,848 174,966 370,110 — — 2,127,652 
Gross charge-offs— — — — — — — — — 
Consumer:
Home equity:
Current12,850 18,301 12,749 6,165 2,282 4,815 225,522 11,488 294,172 
Past due— 61 — — 142 630 871 1,243 2,947 
Total home equity12,850 18,362 12,749 6,165 2,424 5,445 226,393 12,731 297,119 
Gross charge-offs— — — — — — — — — 
Other:
Current4,176 4,497 2,331 2,175 757 2,989 251 — 17,176 
Past due24 — 370 — — — — — 394 
Total other4,200 4,497 2,701 2,175 757 2,989 251 — 17,570 
Gross charge-offs229 10 — — 2 3 — — 244 
Totals:
Loans, amortized cost$334,388 $897,170 $1,502,297 $771,287 $342,333 $958,894 $318,761 $14,189 $5,139,319 
Gross charge-offs$262 $10 $— $— $2 $2,139 $— $— $2,413 
(1)Excludes a $1.5 million negative basis adjustment associated with fair value hedges. See Note 9 for additional disclosure.
Loan Servicing Rights The following table presents an analysis of loan servicing rights:
(Dollars in thousands)Loan Servicing
Rights		Valuation
Allowance		Total
Balance at December 31, 2022$9,015 $— $9,015 
Loan servicing rights capitalized1,069 — 1,069 
Amortization(1,538)— (1,538)
Increase in impairment reserve— (34)(34)
Balance at December 31, 20238,546 (34)8,512 
Loan servicing rights capitalized688 — 688 
Amortization(1,567)— (1,567)
Decrease in impairment reserve— 34 34 
Balance at December 31, 20247,667 — 7,667 
Loan servicing rights capitalized345 — 345 
Amortization(1,458)— (1,458)
Decrease in impairment reserve— — — 
Balance at December 31, 2025$6,554 $— $6,554 
Amortization Expense Related to Loan Servicing Assets
The following table presents estimated aggregate amortization expense related to loan servicing assets:
(Dollars in thousands)
Years ending December 31:2026$1,297 
20271,040 
2028834 
2029669 
2030537 
2031 and thereafter2,177 
Total estimated amortization expense$6,554 
Loans Serviced for Others, by Loan Portfolio The following table presents the balance of loans serviced for others by loan portfolio:
(Dollars in thousands)
December 31,20252024
Residential real estate$1,312,227 $1,409,920 
Commercial200,861 179,626 
Total$1,513,088 $1,589,546