Loans (Tables)

3 Months Ended

Mar. 31, 2026

The following table presents the carrying value of loans, segregated by class of loans:


(Dollars in thousands)	March 31, 2026	December 31, 2025
Commercial:


Commercial real estate (1)	$2,084,804	$2,183,985
Commercial & industrial (2)	568,177	564,082
Total commercial	2,652,981	2,748,067
Residential Real Estate:


Residential real estate (3)	2,029,092	2,050,399
Consumer:


Home equity	316,353	318,862
Other (4)	16,459	17,060
Total consumer	332,812	335,922
Total loans (5)	$5,014,885	$5,134,388

(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 owner occupied real estate.

(3)Residential real estate consists of mortgage and homeowner construction loans secured by one- to four-family residential properties. Also, includes negative basis adjustments associated with fair value hedges of $923 thousand and $335 thousand, respectively, at March 31, 2026 and December 31, 2025. See Note 6 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 $11.3 million and $11.0 million, respectively, at March 31, 2026 and December 31, 2025 and net unamortized premiums on loans purchased from and serviced by other financial institutions of $193 thousand and $198 thousand, respectively, at March 31, 2026 and December 31, 2025.

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
March 31, 2026	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$2,078,230	$6,574	$—	$—	$6,574	$2,084,804
Commercial & industrial	567,707	344	—	126	470	568,177
Total commercial	2,645,937	6,918	—	126	7,044	2,652,981
Residential Real Estate:
Residential real estate	2,022,465	3,018	1,185	2,424	6,627	2,029,092
Consumer:
Home equity	313,607	854	1,545	347	2,746	316,353
Other	16,428	28	—	3	31	16,459
Total consumer	330,035	882	1,545	350	2,777	332,812
Total loans	$4,998,437	$10,818	$2,730	$2,900	$16,448	$5,014,885


(Dollars in thousands)		Days Past Due
December 31, 2025	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$2,183,337	$648	$—	$—	$648	$2,183,985
Commercial & industrial	564,075	7	—	—	7	564,082
Total commercial	2,747,412	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 consumer	334,289	1,121	166	346	1,633	335,922
Total loans	$5,123,005	$5,309	$2,726	$3,348	$11,383	$5,134,388

Included in past due loans as of March 31, 2026 and December 31, 2025, were nonaccrual loans of $12.3 million and $8.3 million, respectively. In addition, all loans 90 days or more past due at March 31, 2026 and December 31, 2025 were classified as nonaccrual.

Nonaccrual Loans

The following table is a summary of nonaccrual loans, segregated by class of loans:


(Dollars in thousands)	March 31, 2026			December 31, 2025
	Nonaccrual Loans			Nonaccrual Loans
	With an ACL	Without an ACL	Total	With an ACL	Without an ACL	Total
Commercial:
Commercial real estate	$28,923	$—	$28,923	$—	$—	$—
Commercial & industrial	126	—	126	—	—	—
Total commercial	29,049	—	29,049	—	—	—
Residential Real Estate:
Residential real estate	8,633	998	9,631	9,830	1,269	11,099
Consumer:
Home equity	1,757	—	1,757	1,824	—	1,824
Other	3	—	3	—	—	—
Total consumer	1,760	—	1,760	1,824	—	1,824
Total nonaccrual loans	$39,442	$998	$40,440	$11,654	$1,269	$12,923
Accruing loans 90 days or more past due			$—			$—

The following table presents interest income recognized on nonaccrual loans:



(Dollars in thousands)
Three months ended March 31,	2026	2025
Commercial:
Commercial real estate	$588	$—
Commercial & industrial	—	2
Total commercial	588	2
Residential Real Estate:
Residential real estate	152	153
Consumer:
Home equity	22	37
Other	—	—
Total consumer	22	37
Total	$762	$192

Summary of TLMs

There were no loans modified as a TLM for the three months ended March 31, 2026.

The following table presents the carrying value at March 31, 2025 of TLMs made during the period indicated, segregated by class of loans and type of concession granted:



(Dollars in thousands)
Three months ended March 31, 2025	Other-than-Insignificant Payment Delay	Total	% of Loan Class (1)




Residential Real Estate:
Residential real estate	$1,431	$1,431	—	%




Total	$1,431	$1,431	—	%

(1)Percentage of TLMs to the total loans outstanding within the respective loan class.

The following table describes the financial effect of TLMs made during the periods indicated, segregated by class of loans:



Three months ended March 31, 2025			Financial Effect



Other-than-Insignificant Payment Delay:
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 tables present an aging analysis of TLMs that have been modified in the past 12 months:



(Dollars in thousands)		Days Past Due
March 31, 2026	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$5,605	$—	$—	$—	$—	$5,605
Commercial & industrial	—	—	—	—	—	—
Total commercial	5,605	—	—	—	—	5,605
Residential Real Estate:
Residential real estate	633	—	—	—	—	633




Total loans	$6,238	$—	$—	$—	$—	$6,238



(Dollars in thousands)		Days Past Due
March 31, 2025	Current	30-59	60-89	90 or More	Total Past Due	Total Loans
Commercial:
Commercial real estate	$7,605	$—	$—	$—	$—	$7,605
Commercial & industrial	5,000	—	—	—	—	5,000
Total commercial	12,605	—	—	—	—	12,605
Residential Real Estate:
Residential real estate	1,686	—	—	—	—	1,686




Total loans	$14,291	$—	$—	$—	$—	$14,291

Collateral Dependent Individually Analyzed Loans

The following table presents the carrying value of collateral dependent individually analyzed loans:


(Dollars in thousands)	March 31, 2026		December 31, 2025
	Carrying Value	Related Allowance	Carrying Value	Related Allowance
Commercial:
Commercial real estate (1)	$12,179	$1,500	$5,605	$—
Commercial & industrial (2)	—	—	—	—
Total commercial	12,179	1,500	5,605	—
Residential Real Estate:
Residential real estate (3)	1,631	—	1,903	—
Consumer:
Home equity (3)	—	—	—	—
Other	3	3	—	—
Total consumer	3	3	—	—
Total	$13,813	$1,503	$7,508	$—

(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 March 31, 2026:


(Dollars in thousands)	Term Loans Amortized Cost by Origination Year
	2026	2025	2024	2023	2022	Prior	Revolving Loans Amortized Cost	Revolving Loans Converted to Term Loans	Total
Commercial:
CRE:
Pass	$58,895	$369,781	$98,630	$282,310	$475,205	$701,930	$9,303	$929	$1,996,983
Special mention	—	27,521	—	11,977	9,502	3,773	—	—	52,773
Classified	—	6,574	—	—	22,349	6,125	—	—	35,048
Total CRE	58,895	403,876	98,630	294,287	507,056	711,828	9,303	929	2,084,804
Gross charge-offs	—	—	—	—	—	—	—	—	—

C&I:
Pass	9,120	91,604	38,889	53,572	127,057	174,893	70,653	317	566,105
Special mention	—	—	784	—	335	126	701	—	1,946
Classified	—	—	—	—	—	126	—	—	126
Total C&I	9,120	91,604	39,673	53,572	127,392	175,145	71,354	317	568,177





Gross charge-offs	17	—	—	—	—	—	—	—	17

Residential Real Estate:
Current (1)	30,985	161,148	46,821	317,827	676,119	790,488	—	—	2,023,388
Past due	—	—	—	—	1,023	5,604	—	—	6,627
Total residential real estate	30,985	161,148	46,821	317,827	677,142	796,092	—	—	2,030,015
Gross charge-offs	—	—	—	—	—	—	—	—	—

Consumer:
Home equity:
Current	2,885	16,260	9,461	13,964	9,646	10,877	236,681	13,833	313,607
Past due	—	—	73	212	49	392	458	1,562	2,746
Total home equity	2,885	16,260	9,534	14,176	9,695	11,269	237,139	15,395	316,353
Gross charge-offs	—	—	—	—	—	—	—	—	—

Other:
Current	802	4,058	2,456	3,001	1,738	4,110	263	—	16,428
Past due	24	5	—	—	—	1	1	—	31
Total other	826	4,063	2,456	3,001	1,738	4,111	264	—	16,459




Gross charge-offs	66	—	—	1	—	—	—	—	67

Loans, amortized cost	$102,711	$676,951	$197,114	$682,863	$1,323,023	$1,698,445	$318,060	$16,641	$5,015,808
Gross charge-offs	$83	$—	$—	$1	$—	$—	$—	$—	$84

(1)Excludes a $923 thousand negative basis adjustment associated with fair value hedges. See Note 6 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, 2025:


(Dollars in thousands)	Term Loans Amortized Cost by Origination Year
	2025	2024	2023	2022	2021	Prior	Revolving Loans Amortized Cost	Revolving Loans Converted to Term Loans	Total
Commercial:
CRE:
Pass	$432,404	$102,312	$338,922	$490,011	$302,383	$438,112	$9,426	$942	$2,114,512
Special mention	33,416	—	—	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 mention	3,569	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-offs	49	—	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 estate	161,291	50,709	332,253	690,150	345,581	470,750	—	—	2,050,734
Gross charge-offs	—	—	—	—	—	—	—	—	—

Consumer:
Home equity:
Current	16,839	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 equity	16,839	10,542	14,720	9,969	5,327	6,309	239,548	15,608	318,862
Gross charge-offs	—	—	—	—	—	—	—	—	—

Other:
Current	4,295	2,588	3,366	1,790	1,616	3,123	256	—	17,034
Past due	26	—	—	—	—	—	—	—	26
Total other	4,321	2,588	3,366	1,790	1,616	3,123	256	—	17,060
Gross charge-offs	323	—	1	—	—	3	—	—	327





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 6 for additional disclosure.