LOAN PORTFOLIO AND CREDIT QUALITY

12 Months Ended

Dec. 31, 2020

The Bank’s lending activities are conducted principally in the regions of New England, Northern California, and Southern California. The Bank originates single and multi-family Residential mortgage loans, Commercial real estate loans, Commercial and industrial loans, Commercial tax-exempt loans, Construction and land loans, and Home equity and other Consumer loans. Most loans are secured by borrowers’ personal or business assets. The ability of the Bank’s single family residential and consumer borrowers to honor their repayment commitments is generally dependent on the level of overall economic conditions within the Bank’s lending areas. Commercial, construction, and land borrowers’ ability to repay is generally dependent upon the health of the economy and real estate values, including, the performance of the construction sector. Accordingly, the ultimate collectability of a substantial portion of the Bank’s loan portfolio is susceptible to changing conditions in the New England, Northern California, and Southern California economies and real estate markets.

Beginning in the first quarter of 2020, the Company made a change to the loan portfolio segmentation in which

Commercial and industrial and Commercial tax-exempt loans were bifurcated given their different underlying risk

characteristics. Beginning in the second quarter of 2020, the Company also added a segment for loans originated under the

SBA's Paycheck Protection Program (the "PPP"). For the period ended December 31, 2019, there were no PPP loans as the SBA initiated the program in the second quarter of 2020 in response to the COVID-19 pandemic.

The following table presents a summary of the loan portfolio based on the portfolio segment as of the dates indicated:


	December 31, 2020		December 31, 2019
	(In thousands)
Commercial and industrial	$	558,343	$	694,034
Paycheck Protection Program	312,356		—
Commercial tax-exempt	442,159		447,927

Commercial real estate	2,757,375		2,551,274
Construction and land	159,204		225,983
Residential	2,677,464		2,839,155
Home equity	77,364		83,657
Consumer and other	120,044		134,674
Total	$	7,104,309	$	6,976,704

During the year ended December 31, 2020, the Bank sold $72.0 million of Residential mortgage loans resulting in a net gain of $427 thousand. The Company recorded $1.2 million in mortgage servicing rights intangible assets related to the sale of these Residential mortgage loans with servicing rights retained. See Part II. Item 8. “Financial Statements and Supplementary Data - Note 8: Goodwill and Other Intangible Assets” for additional information on the mortgage servicing rights.

The following table presents nonaccrual loans receivable by class of receivable as of the dates indicated:


	December 31, 2020		December 31, 2019
	(In thousands)
Commercial and industrial	$	4,394	$	582
Paycheck Protection Program	—		—
Commercial tax-exempt	—		—

Commercial real estate	5,261		—
Construction and land	—		—
Residential	13,780		13,993
Home equity	415		1,525
Consumer and other	1		3
Total	$	23,851	$	16,103

The Bank’s policy is to discontinue the accrual of interest on a loan when the collectability of principal or interest is in doubt. In certain instances, although infrequent, loans that have become 90 days or more past due may remain on accrual status if the value of the collateral securing the loan is sufficient to cover principal and interest and the loan is in the process of collection. There were no loans 90 days or more past due, but still accruing, as of December 31, 2020 and 2019. The Bank’s policy for returning a loan to accrual status requires the loan to be brought current and for the client to show a history of making timely payments (generally six consecutive months). For TDRs, a return to accrual status generally requires timely payments for a period of six months in accordance with the restructured loan terms, along with meeting other criteria.

The following tables show the payment status of loans receivable by class of receivable as of the dates indicated:


	December 31, 2020
	Accruing Past Due				Nonaccrual Loans
	30-59 Days Past Due		60-89 Days Past Due		Total Accruing Past Due		Current		30-89 Days Past Due		90 Days or Greater Past Due		Total Non- accrual Loans		Current Accruing Loans		Total Loans Receivable
	(In thousands)
Commercial and industrial	$	1,837	$	522	$	2,359	$	3,934	$	87	$	373	$	4,394	$	551,590	$	558,343
Paycheck Protection Program	—		—		—		—		—		—		—		312,356		312,356
Commercial tax-exempt	—		—		—		—		—		—		—		442,159		442,159
Commercial real estate	136		491		627		—		—		5,261		5,261		2,751,487		2,757,375
Construction and land	—		—		—		—		—		—		—		159,204		159,204
Residential	10,960		4,538		15,498		8,183		1,521		4,076		13,780		2,648,186		2,677,464
Home equity	1,107		256		1,363		228		—		187		415		75,586		77,364
Consumer and other	15		—		15		—		1		—		1		120,028		120,044
Total	$	14,055	$	5,807	$	19,862	$	12,345	$	1,609	$	9,897	$	23,851	$	7,060,596	$	7,104,309


	December 31, 2019
	Accruing Past Due				Nonaccrual Loans
	30-59 Days Past Due		60-89 Days Past Due		Total Accruing Past Due		Current		30-89 Days Past Due		90 Days or Greater Past Due		Total Non- accrual Loans		Current Accruing Loans		Total Loans Receivable
	(In thousands)
Commercial and industrial	$	828	$	—	$	828	$	—	$	241	$	341	$	582	$	692,624	$	694,034
Commercial tax-exempt	—		—		—		—		—		—		—		447,927		447,927
Commercial real estate	1,420		—		1,420		—		—		—		—		2,549,854		2,551,274
Construction and land	—		—		—		—		—		—		—		225,983		225,983
Residential	19,133		1,038		20,171		9,593		759		3,641		13,993		2,804,991		2,839,155
Home equity	369		—		369		220		148		1,157		1,525		81,763		83,657
Consumer and other	1,008		2,149		3,157		1		—		2		3		131,514		134,674
Total	$	22,758	$	3,187	$	25,945	$	9,814	$	1,148	$	5,141	$	16,103	$	6,934,656	$	6,976,704

Nonaccrual and delinquent loans are affected by many factors, such as economic and business conditions, interest rates, unemployment levels, and real estate collateral values, among others. In periods of prolonged economic decline, borrowers may become more severely affected over time as liquidity levels decline and the borrower’s ability to continue to make payments deteriorates.

With respect to real estate collateral values, the declines from the peak, as well as the value of the real estate at the time of origination versus the current value, can impact the level of problem loans. For instance, if the loan to value ratio at the time of renewal has increased due to the decline in the real estate value since origination, the loan may no longer meet the Bank’s underwriting standards and may be considered for classification as a problem loan dependent upon a review of risk factors. There could be an increase in these situations as the economic conditions brought on by the COVID-19 pandemic could lead to a decline in collateral values.

Generally, when a collateral dependent loan becomes impaired, an updated appraisal of the collateral, if appropriate, is obtained. If the impaired loan has not been upgraded to a performing status within a reasonable amount of time, the Bank will

continue to obtain updated appraisals as deemed necessary, especially during periods of declining property values. The COVID-19 pandemic has limited the Bank’s ability to obtain updated appraisals. In lieu of appraisals, the Bank may use other valuation techniques in the short-term. The Bank did not use any alternative valuation techniques in 2020.

The past due status of a loan is determined in accordance with its contractual repayment terms. All loan types are reported past due when one scheduled payment is due and unpaid for 30 days or more. Loans with modified terms under the

CARES Act are not considered past due if they are complying with the modified terms.

The following tables present the loan portfolio’s credit risk profile by internally assigned grade and class of receivable as of the dates indicated:


	December 31, 2020
	By Loan Grade or Nonaccrual Status
	Pass		Special Mention		Accruing Classified (1)		Nonaccrual Loans		Total
	(In thousands)
Commercial and industrial	$	519,680	$	11,314	$	22,955	$	4,394	$	558,343
Paycheck Protection Program	312,356		—		—		—		312,356
Commercial tax-exempt	434,850		2,806		4,503		—		442,159
Commercial real estate	2,505,424		170,521		76,169		5,261		2,757,375
Construction and land	156,908		2,296		—		—		159,204
Residential	2,660,684		—		3,000		13,780		2,677,464
Home equity	76,693		—		256		415		77,364
Consumer and other	119,743		300		—		1		120,044
Total	$	6,786,338	$	187,237	$	106,883	$	23,851	$	7,104,309


	December 31, 2019
	By Loan Grade or Nonaccrual Status
	Pass		Special Mention		Accruing Classified (1)		Nonaccrual Loans		Total
	(In thousands)
Commercial and industrial	$	656,364	$	12,101	$	24,987	$	582	$	694,034
Commercial tax-exempt	436,721		7,154		4,052		—		447,927
Commercial real estate	2,495,702		32,014		23,558		—		2,551,274
Construction and land	225,526		457		—		—		225,983
Residential	2,820,909		—		4,253		13,993		2,839,155
Home equity	81,060		—		1,072		1,525		83,657
Consumer and other	134,371		300		—		3		134,674
Total	$	6,850,653	$	52,026	$	57,922	$	16,103	$	6,976,704

___________________

(1) Accruing Classified may include both Substandard and Doubtful classifications.

The following table presents the loan portfolio’s credit risk profile by loan origination year and class of receivable as of the dates indicated:


	December 31, 2020
	Loan Origination Year By Loan Grade or Nonaccrual Status
	2020		2019		2018		2017		2016		Prior		Revolving		Revolving Converted to Term (2)		Total
	(In thousands)
Commercial and industrial
Pass	$	96,230	$	80,949	$	65,506	$	13,378	$	17,972	$	43,592	$	191,252	$	10,801	$	519,680
Special Mention	358		2,413		1,008		674		—		2,688		3,911		262		11,314
Accruing Classified (1)	1,184		223		6,247		—		—		110		8,683		6,508		22,955
Nonaccrual	—		141		350		—		813		14		1,012		2,064		4,394
Total	$	97,772	$	83,726	$	73,111	$	14,052	$	18,785	$	46,404	$	204,858	$	19,635	$	558,343
Paycheck Protection Program
Pass	$	312,356	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	312,356



Total	$	312,356	$	—	$	—	$	—	$	—	$	—	$	—	$	—	$	312,356
Commercial tax-exempt
Pass	$	53,225	$	20,586	$	40,451	$	24,624	$	102,133	$	190,798	$	—	$	3,033	$	434,850
Special Mention	—		—		—		—		—		2,806		—		—		2,806
Accruing Classified (1)	—		—		—		—		—		4,503		—		—		4,503

Total	$	53,225	$	20,586	$	40,451	$	24,624	$	102,133	$	198,107	$	—	$	3,033	$	442,159
Commercial real estate
Pass	$	311,605	$	462,144	$	247,228	$	308,437	$	375,713	$	657,563	$	126,544	$	16,190	$	2,505,424
Special Mention	21,661		13,851		12,382		29,461		37,123		56,043		—		—		170,521
Accruing Classified (1)	3,161		49,637		14,000		—		—		9,371		—		—		76,169
Nonaccrual	—		5,212		—		—		—		—		49		—		5,261
Total	$	336,427	$	530,844	$	273,610	$	337,898	$	412,836	$	722,977	$	126,593	$	16,190	$	2,757,375
Construction and land
Pass	$	43,042	$	63,914	$	31,434	$	16,288	$	2,230	$	—	$	—	$	—	$	156,908
Special Mention	—		—		2,296		—		—		—		—		—		2,296


Total	$	43,042	$	63,914	$	33,730	$	16,288	$	2,230	$	—	$	—	$	—	$	159,204
Residential
Pass	$	603,414	$	471,237	$	366,390	$	388,845	$	352,330	$	478,468	$	—	$	—	$	2,660,684

Accruing Classified (1)	—		—		—		—		—		3,000		—		—		3,000
Nonaccrual	—		604		272		2,373		62		10,469		—		—		13,780
Total	$	603,414	$	471,841	$	366,662	$	391,218	$	352,392	$	491,937	$	—	$	—	$	2,677,464
Home equity
Pass	$	—	$	—	$	252	$	—	$	686	$	553	$	64,985	$	10,217	$	76,693

Accruing Classified (1)	—		—		—		—		—		—		—		256		256
Nonaccrual	—		—		—		—		—		276		139		—		415
Total	$	—	$	—	$	252	$	—	$	686	$	829	$	65,124	$	10,473	$	77,364
Consumer and other
Pass	$	728	$	158	$	25	$	—	$	81	$	574	$	118,177	$	—	$	119,743
Special Mention	—		—		—		—		—		—		300		—		300

Nonaccrual	—		—		—		—		—		—		1		—		1
Total	$	728	$	158	$	25	$	—	$	81	$	574	$	118,478	$	—	$	120,044
Total
Pass	$	1,420,600	$	1,098,988	$	751,286	$	751,572	$	851,145	$	1,371,548	$	500,958	$	40,241	$	6,786,338
Special Mention	22,019		16,264		15,686		30,135		37,123		61,537		4,211		262		187,237
Accruing Classified (1)	4,345		49,860		20,247		—		—		16,984		8,683		6,764		106,883
Nonaccrual	—		5,957		622		2,373		875		10,759		1,201		2,064		23,851
Total	$	1,446,964	$	1,171,069	$	787,841	$	784,080	$	889,143	$	1,460,828	$	515,053	$	49,331	$	7,104,309

______________________

(1) Accruing Classified may include both Substandard and Doubtful classifications.

(2) Amounts for revolving loans converted to term loans represent only those loans that have been converted to term loans after December 31, 2016. Due to data limitations, information prior to December 31, 2016 is unavailable.

The following tables present, by class of receivable, the balance of impaired loans with and without a related Allowance for loan losses, the associated Allowance for loan losses for those impaired loans with a related Allowance for loan losses, and the total unpaid principal on impaired loans:


	As of and for the year ended December 31, 2020
	Recorded Investment (1)		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized while Impaired
	(In thousands)
With no related allowance recorded:
Commercial and industrial	$	2,262	$	2,307	n/a		$	2,512	$	141
Paycheck Protection Program	—		—		n/a		—		—
Commercial tax-exempt	—		—		n/a		302		20
Commercial real estate	5,212		5,384		n/a		4,818		33
Construction and land	—		—		n/a		—		—
Residential	14,523		14,783		n/a		15,509		534
Home equity	367		367		n/a		922		16
Consumer and other	—		—		n/a		—		—
Subtotal	$	22,364	$	22,841	n/a		$	24,063	$	744
With an allowance recorded:
Commercial and industrial	$	2,053	$	2,090	$	279	$	378	$	1
Paycheck Protection Program	—		—		—		—		—
Commercial tax-exempt	—		—		—		—		—
Commercial real estate	50		50		50		23		—
Construction and land	—		—		—		—		—
Residential	419		419		54		498		13
Home equity	256		256		17		264		7
Consumer and other	—		—		—		—		—
Subtotal	$	2,778	$	2,815	$	400	$	1,163	$	21
Total:
Commercial and industrial	$	4,315	$	4,397	$	279	$	2,890	$	142
Paycheck Protection Program	—		—		—		—		—
Commercial tax-exempt	—		—		—		302		20
Commercial real estate	5,262		5,434		50		4,841		33
Construction and land	—		—		—		—		—
Residential	14,942		15,202		54		16,007		547
Home equity	623		623		17		1,186		23
Consumer and other	—		—		—		—		—
Total	$	25,142	$	25,656	$	400	$	25,226	$	765

___________________

(1)Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, which was applied to principal.


	As of and for the year ended December 31, 2019
	Recorded Investment (1)		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Recognized while Impaired
	(In thousands)
With no related allowance recorded:
Commercial and industrial	$	470	$	553	n/a		$	1,062	$	268
Commercial tax-exempt	—		—		n/a		—		—
Commercial real estate	733		733		n/a		155		262
Construction and land	—		—		n/a		—		—
Residential	15,362		15,622		n/a		13,700		636
Home equity	1,557		2,119		n/a		2,095		35
Consumer and other	—		—		n/a		—		—
Subtotal	$	18,122	$	19,027	n/a		$	17,012	$	1,201
With an allowance recorded:
Commercial and industrial	$	254	$	254	$	146	$	736	$	33
Commercial tax-exempt	—		—		—		—		—
Commercial real estate	—		—		—		—		—
Construction and land	—		—		—		—		—
Residential	538		538		67		1,130		23
Home equity	273		273		22		545		4
Consumer and other	—		—		—		—		—
Subtotal	$	1,065	$	1,065	$	235	$	2,411	$	60
Total:
Commercial and industrial	$	724	$	807	$	146	$	1,798	$	301
Commercial tax-exempt	—		—		—		—		—
Commercial real estate	733		733		—		155		262
Construction and land	—		—		—		—		—
Residential	15,900		16,160		67		14,830		659
Home equity	1,830		2,392		22		2,640		39
Consumer and other	—		—		—		—		—
Total	$	19,187	$	20,092	$	235	$	19,423	$	1,261

____________________

(1)Recorded investment represents the client loan balance net of historical charge-offs and historical nonaccrual interest paid, if applicable, which was applied to principal.

The following table presents, by class of receivable, the average recorded investment balance of impaired loans and interest income recognized on impaired loans:


	Year Ended December 31,
	2020				2019				2018
	Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized		Average Recorded Investment		Interest Income Recognized
	(In thousands)
Commercial and industrial	$	2,890	$	142	$	1,798	$	301	$	2,245	$	84
Paycheck Protection Program	—		—		n/a		n/a		n/a		n/a
Commercial tax-exempt	302		20		—		—		—		—
Commercial real estate	4,841		33		155		262		6,089		2,249
Construction and land	—		—		—		—		50		16
Residential	16,007		547		14,830		659		10,423		430
Home equity	1,186		23		2,640		39		2,000		35
Consumer and other	—		—		—		—		10		3
Total	$	25,226	$	765	$	19,423	$	1,261	$	20,817	$	2,817

When management determines that it is probable that the Bank will not collect all principal and interest on a loan in accordance with the original loan terms, the loan is designated as impaired.

On March 22, 2020, regulators issued an interagency statement encouraging financial institutions to work with

borrowers affected by the COVID-19 pandemic. The interagency statement also provided additional information regarding loan

modifications. The regulators indicated they will not criticize institutions for working with borrowers in a safe and sound

manner and have indicated that related modifications will not automatically result in a TDR. The regulators also provided

supervisory views that loans modified under this program would not be considered past due or nonaccrual. Subsequently, this guidance was extended through 2021 with the second stimulus package signed into law on December 28, 2020.

The regulators view prudent loan modification programs offered to financial institution customers affected by the

COVID-19 pandemic as positive and proactive actions that can manage adverse impacts on borrowers, and lead to improved

loan performance and reduced credit risk. The statement indicated that short-term modifications made on a good faith basis in

response to the COVID-19 pandemic to borrowers who were current prior to any relief are not TDRs.

Loans that are designated as impaired require an analysis to determine the amount of impairment, if any. Impairment would be indicated as a result of the carrying value of the loan exceeding either the estimated collateral value, less costs to sell, for collateral dependent loans or the net present value of the projected cash flow, discounted at the loan’s contractual effective interest rate, for loans not considered to be collateral dependent. Generally, shortfalls in the analysis on collateral dependent loans would result in the impairment amount being charged-off to the Allowance for loan losses. Shortfalls on cash flow dependent loans may be carried as specific allocations to the general reserve unless a known loss is determined to have occurred, in which case such known loss is charged-off.

Loans in the held for sale category are carried at the lower of amortized cost or estimated fair value in the aggregate and are excluded from the Allowance for loan losses analysis.

As of December 31, 2020, the Bank has pledged $2.2 billion of loans in a blanket lien agreement with the Federal Home Loan Bank of Boston (“FHLB”). The Bank also has $332.8 million of loans pledged as collateral at the Federal Reserve Bank (“FRB”) for access to their discount window. As of December 31, 2019, the Bank had pledged $2.5 billion of loans to the FHLB and $395.3 million of loans to the FRB.

The Bank may, under certain circumstances, restructure loans as a concession to borrowers who are experiencing financial difficulty. These loans are outside of the guidelines to not be considered a TDR by recent regulatory guidance. Such loans are classified as TDRs and are included in impaired loans. TDRs typically result from the Bank’s loss mitigation activities which, among other things, could include rate reductions, payment extensions, and/or principal forgiveness. As of December 31, 2020 and 2019, TDRs totaled $13.9 million and $12.6 million, respectively. As of December 31, 2020, $7.2 million of the $13.9 million of TDRs were on accrual status. As of December 31, 2019, $7.1 million of the $12.6 million of TDRs were on accrual status. As of December 31, 2020 and 2019, the Company had no commitments to lend additional funds to debtors for loans whose terms had been modified in a TDR.

Since all TDR loans are considered impaired loans, they are individually evaluated for impairment. The resulting impairment, if any, would have an impact on the Allowance for loan losses as a specific reserve or charge-off. If, prior to the classification as a TDR, the loan was not impaired, there would have been a general or allocated reserve on the particular loan. Therefore, depending upon the result of the impairment analysis, there could be an increase or decrease in the related Allowance for loan losses. Prior to the adoption of ASU 2016-13 on January 1, 2020, a general or allocated reserve would have been applied. Many loans initially categorized as TDRs are already on nonaccrual status and are already considered impaired.

Therefore, there is generally not a material change to the Allowance for loan losses when a nonaccruing loan is categorized as a TDR.

The following tables present the balance of TDRs that were restructured or defaulted during the periods indicated:


	As of and for the year ended December 31, 2020
	Restructured Year to Date					TDRs that defaulted that were restructured in prior twelve months
	# of Loans	Pre-modification recorded investment		Post-modification recorded investment		# of Loans	Post-modification recorded investment
	(In thousands, except number of loans)
Commercial and industrial	4	$	1,769	$	1,769	1	$	49
Commercial tax-exempt	—	—		—		—	—
Commercial real estate	—	—		—		—	—
Construction and land	—	—		—		—	—
Residential	1	2,373		2,373		1	1,562
Home equity	—	—		—		1	251
Consumer and other	—	—		—		—	—
Total	5	$	4,142	$	4,142	3	$	1,862


	As of and for the year ended December 31, 2020
	Extension of Term			Temporary Rate Reduction			Payment Deferral			Combination of Concessions (1)			Total Concessions
	# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment
	(In thousands, except number of loans)
Commercial and industrial	1	$	643	—	$	—	—	$	—	3	$	1,126	4	$	1,769
Commercial tax-exempt	—	—		—	—		—	—		—	—		—	—
Commercial real estate	—	—		—	—		—	—		—	—		—	—
Construction and Land	—	—		—	—		—	—		—	—		—	—
Residential	—	—		—	—		1	2,373		—	—		1	2,373
Home Equity	—	—		—	—		—	—		—	—		—	—
Consumer and other	—	—		—	—		—	—		—	—		—	—
Total	1	$	643	—	$	—	1	$	2,373	3	$	1,126	5	$	4,142

____________________

(1)Combination of concessions includes loans that have had more than one modification, including extension of term, temporary reduction of interest rate, and/or payment deferral.


	As of and for the year ended December 31, 2019
	Restructured Year to Date					TDRs that defaulted that were restructured in prior twelve months
	# of Loans	Pre-modification recorded investment		Post-modification recorded investment		# of Loans	Post-modification recorded investment
	(In thousands, except number of loans)
Commercial and industrial	2	$	449	$	449	1	$	270
Commercial tax-exempt	—	—		—		—	—
Commercial real estate	1	736		736		—	—
Construction and land	—	—		—		—	—
Residential	5	6,801		6,845		—	—
Home equity	2	525		534		—	—
Consumer and other	—	—		—		—	—
Total	10	$	8,511	$	8,564	1	$	270


	As of and for the year ended December 31, 2019
	Extension of Term			Temporary Rate Reduction			Payment Deferral			Combination of Concessions (1)			Total Concessions
	# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment		# of Loans	Post- modifi- cation recorded invest- ment
	(In thousands, except number of loans)
Commercial and industrial	2	$	449	—	$	—	—	$	—	—	$	—	2	$	449
Commercial tax-exempt	—	—		—	—		—	—		—	—		—	$	—
Commercial real estate	1	736		—	—		—	—		—	—		1	$	736
Construction and Land	—	—		—	—		—	—		—	—		—	$	—
Residential	—	—		2	3,227		3	3,618		—	—		5	$	6,845
Home Equity	—	—		1	283		1	251		—	—		2	$	534
Consumer and other	—	—		—	—		—	—		—	—		—	$	—
Total	3	$	1,185	3	$	3,510	4	$	3,869	—	$	—	10	$	8,564

___________________

(1)Combination of concessions includes loans that have had more than one modification, including extension of term, temporary reduction of interest rate, and/or payment deferral.

Loan participations serviced for others and loans serviced for others are not included in the Company's total loans. The following table presents a summary of the loan participations serviced for others and loans serviced for others based on class of receivable as of the dates indicated:


	December 31, 2020		December 31, 2019
	(In thousands)
Commercial and industrial	$	110,589	$	14,533
Commercial tax-exempt	17,604		18,101
Commercial real estate	130,551		121,929
Construction and land	93,874		75,451
Total loan participations serviced for others	$	352,618	$	230,014

Residential	$	168,110	$	204,696
Total loans serviced for others	$	168,110	$	204,696

Any loans to senior management, executive officers, and directors are made in the ordinary course of business, under normal credit terms, including interest rates and collateral requirements prevailing at the time of origination for

comparable transactions with other persons and do not represent more than normal credit risk. The Bank’s current policy is generally not to originate these types of loans. Total loans include deferred loan origination (fees)/costs, net of $0.3 million and $8.1 million as of December 31, 2020 and 2019, respectively.