INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

INCOME TAXES

Schedule of pretax income shown from continuing operations

(in thousands)	2025
Domestic	$	45,935
Total pretax income from continuing operations	$	45,935

Schedule of Components of Income Tax Expense (Benefit)

(in thousands)	2025
Current Expense:
Federal	$	7,395
State and city		1,685
Total current tax expense		9,080
Deferred tax (benefit) expense:
Federal		(278)
State and city		214
Total income tax expense	$	9,016

(in thousands)	2024		2023
Current:
Federal tax expense	$	7,688	$	10,704
State tax expense		1,748		2,247
Total current tax expense		9,436		12,951
Deferred tax (benefit) expense		(366)		(686)
Total income tax expense	$	9,070	$	12,265

Schedule of Effective Income Tax Rate Reconciliation

	2025
(in thousands, except ratios)	Amount		Rate
U.S. Federal statutory tax rate	$	9,646	21.00	%
State and local income taxes, net of federal income tax effect (a)		1,500	3.20
Tax credits, net of benefits (b)		(263)	(0.57)
Nontaxable or nondeductible items:
Tax exempt interest Income		(1,492)	(3.22)
Bank owned life insurance income		(535)	(1.16)
Other		160	0.72
Effective tax rate	$	9,016	19.64	%

(a) State taxes in New Hampshire and Massachusetts made up the majority (greater than 50 percent) of the tax effect in this category.

(b) Includes tax expense related to proportional amortization of $1.4 million and tax benefit related to flow-through losses of $175 thousand.

	2024				2023
(in thousands, except ratios)	Amount		Rate		Amount		Rate
Statutory tax rate	$	11,049	21.00	%	$	11,995	21.00	%
Increase (decrease) resulting from:
State taxes, net of federal benefit		1,287	2.45			1,539	2.69
Tax exempt interest		(1,405)	(2.67)			(1,042)	(1.82)
Federal tax credits		(239)	(0.45)			(471)	(0.82)
Officers' life insurance		(416)	(0.79)			(578)	(1.01)
Gain on disposal of low income housing tax credit investments		—	—			—	—
Stock-based compensation plans		(37)	(0.07)			17	0.03
Other		(1,169)	(2.22)			805	1.40
Effective tax rate	$	9,070	17.25	%	$	12,265	21.47	%

Schedule of income taxes paid

(in thousands, except ratios)	2025
Federal	$	5,000
State and local
New Hampshire		625
Massachusetts		450
Maine		320
All other states		204
Total	$	6,599

Schedule of Deferred Tax Assets and Liabilities

(in thousands)	2025
Deferred Tax Assets:
Unrealized gain or loss on securities available for sale	$	10,106
Allowance for credit losses		8,158
Acquired available-for-sale debt securities fair value mark		4,620
Deferred compensation		4,907
Lease liability		2,394
Equity compensation		1,491
Unrealized gain or loss on derivatives		905
Non-accrual interest		887
Contract incentives		860
Deferred loan origination fees, net		543
Acquisition fair value adjustments		7,512
Other		—
Total gross deferred tax assets		42,383
Deferred tax liabilities:
Acquired deposits and core deposit intangible		3,674
Right of use asset		2,216
Branch acquisition costs and goodwill		2,687
Depreciation		1,910
Mortgage servicing rights		795
Prepaid pension		738
Prepaid expenses		421
Other		16
Total deferred tax liabilities		12,457
Net deferred tax asset	$	29,926

	2024
(in thousands)	Assets		Liabilities
Allowance for credit losses	$	6,872	$	—
Deferred compensation		3,941		—
Unrealized gain or loss on securities available for sale		14,557		—
Unrealized gain or loss on derivatives		786		—
Depreciation		—		1,403
Deferred loan origination fees, net		13		—
Non-accrual interest		731		—
Branch acquisition costs and goodwill		—		2,363
Core deposit intangible		—		547
Acquisition fair value adjustments		260		—
Prepaid expenses		—		287
Mortgage servicing rights		—		738
Equity compensation		1,269		—
Prepaid pension		—		673
Contract incentives		391		—
Right of use asset		—		2,053
Lease liability		2,209		—
Other		365		—
Total	$	31,394	$	8,064