Loans And The Allowance For Loan Losses (Tables)

3 Months Ended

Mar. 31, 2020

Loans And The Allowance For Loan Losses [Abstract]


	March 31, 2020		December 31, 2019
Mortgage loans on real estate:	(in thousands)
Residential mortgages	$	156,125	$	158,572
Commercial and multi-family		666,651		645,036
Construction-Residential		298		1,067
Construction-Commercial		96,698		97,848
Home equities		67,629		69,351
Total real estate loans		987,401		971,874

Commercial and industrial loans		256,157		251,197
Consumer and other loans		1,223		1,926
Net deferred loan origination costs		1,425		1,534
Total gross loans		1,246,206		1,226,531

Allowance for loan losses		(18,157)		(15,175)

Loans, net	$	1,228,049	$	1,211,356

Data, At Class Level, Of Credit Quality Indicators Of Certain Loans



March 31, 2020
(in thousands)
Corporate Credit Exposure – By Credit Rating	Commercial Real Estate Construction		Commercial and Multi-Family Mortgages		Total Commercial Real Estate		Commercial and Industrial
Acceptable or better	$	73,866	$	476,629	$	550,495	$	184,214
Watch		12,493		165,806		178,299		50,615
Special Mention		8,133		11,024		19,157		11,836
Substandard		2,206		13,192		15,398		9,492
Doubtful/Loss		-		-		-		-
Total	$	96,698	$	666,651	$	763,349	$	256,157




December 31, 2019
(in thousands)
Corporate Credit Exposure – By Credit Rating	Commercial Real Estate Construction		Commercial and Multi-Family Mortgages		Total Commercial Real Estate		Commercial and Industrial
Acceptable or better	$	73,646	$	451,297	$	524,943	$	165,255
Watch		13,380		171,277		184,657		68,665
Special Mention		8,359		15,725		24,084		7,631
Substandard		2,463		6,737		9,200		9,646
Doubtful/Loss		-		-		-		-
Total	$	97,848	$	645,036	$	742,884	$	251,197

Recorded Investment In Loans Past Due



March 31, 2020
(in thousands)

		Current							Non-accruing		Total
		Balance	30-59 days		60-89 days		90+ days		Loans		Balance

Commercial and industrial	$	245,230	$	1,094	$	2,613	$	-	$	7,220	$	256,157
Residential real estate:
Residential		151,557		3,160		-		-		1,408		156,125
Construction		298		-		-		-		-		298
Commercial real estate:
Commercial		650,625		10,009		-		-		6,017		666,651
Construction		93,488		1,892		-		-		1,318		96,698
Home equities		66,552		302		24		-		751		67,629
Consumer and other		1,206		11		3		3		-		1,223
Total Loans	$	1,208,956	$	16,468	$	2,640	$	3	$	16,714	$	1,244,781

Note: Loan balances do not include $1.4 million in net deferred loan origination costs as of March 31, 2020.



	December 31, 2019
	(in thousands)

			Current							Non-accruing		Total
			Balance	30-59 days		60-89 days		90+ days		Loans		Balance

Commercial and industrial		$	245,658	$	705	$	-	$	-	$	4,834	$	251,197
Residential real estate:
Residential			153,630		2,616		888		-		1,438		158,572
Construction			865		-		202		-		-		1,067
Commercial real estate:
Commercial			630,016		3,482		5,879		-		5,659		645,036
Construction			92,667		2,886		720		-		1,575		97,848
Home equities			67,868		354		239		-		890		69,351
Consumer and other			1,907		15		4		-		-		1,926
Total Loans		$	1,192,611	$	10,058	$	7,932	$	-	$	14,396	$	1,224,997

Note: Loan balances do not include $1.5 million in net deferred loan origination costs as of December 31, 2019.

Schedule Of Allowance For Loan Losses According To Portfolio Segment

The following tables present the activity in the allowance for loan losses according to portfolio segment for the three month periods ended March 31, 2020 and 2019:




March 31, 2020

(in thousands)	Commercial and Industrial		Commercial Real Estate Mortgages*		Consumer and Other		Residential Mortgages*		Home Equities		Total
Allowance for loan
losses:
Beginning balance	$	4,547	$	9,005	$	155	$	1,071	$	397	$	15,175
Charge-offs		(17)		-		(15)		(29)		(4)		(65)
Recoveries		32		-		16		-		-		48
Provision (Credit)		1,013		1,583		(65)		376		92		2,999
Ending balance	$	5,575	$	10,588	$	91	$	1,418	$	485	$	18,157

Allowance for loan
losses:
Ending balance:
Individually evaluated
for impairment	$	1,012	$	6	$	-	$	-	$	-	$	1,018
Collectively evaluated
for impairment		4,563		10,582		91		1,418		485		17,139
Total	$	5,575	$	10,588	$	91	$	1,418	$	485	$	18,157

Loans:
Ending balance:
Individually evaluated
for impairment	$	7,456	$	7,872	$	-	$	2,591	$	1,252	$	19,171
Collectively evaluated
for impairment		248,701		755,477		1,223		153,832		66,377		1,225,610
Total	$	256,157	$	763,349	$	1,223	$	156,423	$	67,629	$	1,244,781

* Includes construction loans

Note: Loan balances do not include $1.4 million in net deferred loan origination costs as of March 31, 2020.




March 31, 2019

(in thousands)	Commercial and Industrial		Commercial Real Estate Mortgages*		Consumer and Other		Residential Mortgages*		Home Equities		Total
Allowance for loan
losses:
Beginning balance	$	4,368	$	8,844	$	106	$	1,121	$	345	$	14,784
Charge-offs		(121)		-		(23)		-		-		(144)
Recoveries		22		-		7		-		-		29
Provision (Credit)		485		205		21		(168)		(5)		538
Ending balance	$	4,754	$	9,049	$	111	$	953	$	340	$	15,207

Allowance for loan
losses:
Ending balance:
Individually evaluated
for impairment	$	499	$	579	$	22	$	70	$	-	$	1,170
Collectively evaluated
for impairment		4,255		8,470		89		883		340		14,037
Total	$	4,754	$	9,049	$	111	$	953	$	340	$	15,207

Loans:
Ending balance:
Individually evaluated
for impairment	$	4,293	$	15,536	$	22	$	2,963	$	1,661	$	24,475
Collectively evaluated
for impairment		237,216		694,316		1,416		158,230		68,116		1,159,294
Total	$	241,509	$	709,852	$	1,438	$	161,193	$	69,777	$	1,183,769

* Includes construction loans

Note: Loan balances do not include $1.7 million in net deferred loan origination costs as of March 31, 2019.

Data, At Class Level, Of Impaired Loans



		At March 31, 2020
		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Foregone		Interest Income Recognized
With no related allowance recorded:		(in thousands)
Commercial and industrial	$	2,008	$	2,322	$	-	$	2,223	$	30	$	1
Residential real estate:
Residential		2,591		2,870		-		2,672		17		16
Construction		-		-		-		-		-		-
Commercial real estate:
Commercial		6,120		6,643		-		6,358		64		22
Construction		1,318		1,352		-		1,335		15		-
Home equities		1,252		1,463		-		1,301		12		6
Consumer and other		-		-		-		-		-		-
Total impaired loans	$	13,289	$	14,650	$	-	$	13,889	$	138	$	45


		At March 31, 2020
		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Foregone		Interest Income Recognized
With a related allowance recorded:		(in thousands)
Commercial and industrial	$	5,448	$	5,525	$	1,012	$	5,516	$	76	$	2
Residential real estate:
Residential		-		-		-		-		-		-
Construction		-		-		-		-		-		-
Commercial real estate:
Commercial		434		443		6		437		6		-
Construction		-		-		-		-		-		-
Home equities		-		-		-		-		-		-
Consumer and other		-		-		-		-		-		-
Total impaired loans	$	5,882	$	5,968	$	1,018	$	5,953	$	82	$	2


		At March 31, 2020
		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Foregone		Interest Income Recognized
Total:		(in thousands)
Commercial and industrial	$	7,456	$	7,847	$	1,012	$	7,739	$	106	$	3
Residential real estate:
Residential		2,591		2,870		-		2,672		17		16
Construction		-		-		-		-		-		-
Commercial real estate:
Commercial		6,554		7,086		6		6,795		70		22
Construction		1,318		1,352		-		1,335		15		-
Home equities		1,252		1,463		-		1,301		12		6
Consumer and other		-		-		-		-		-		-
Total impaired loans	$	19,171	$	20,618	$	1,018	$	19,842	$	220	$	47



		At December 31, 2019
		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Foregone		Interest Income Recognized
With no related allowance recorded:		(in thousands)
Commercial and industrial	$	3,798	$	4,112	$	-	$	4,046	$	118	$	143
Residential real estate:
Residential		2,744		3,003		-		2,823		73		63
Construction		-		-		-		-		-		-
Commercial real estate:
Commercial		6,019		6,521		-		6,293		225		72
Construction		1,335		1,352		-		1,344		23		50
Home equities		1,453		1,687		-		1,525		64		30
Consumer and other		-		-		-		-		-		-
Total impaired loans	$	15,349	$	16,675	$	-	$	16,031	$	503	$	358


		At December 31, 2019
		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Foregone		Interest Income Recognized
With a related allowance recorded:		(in thousands)
Commercial and industrial	$	2,760	$	2,808	$	442	$	2,764	$	109	$	63
Residential real estate:
Residential		60		62		5		61		3		1
Construction		-		-		-		-		-		-
Commercial real estate:
Commercial		197		197		4		197		8		4
Construction		240		246		5		242		8		9
Home equities		-		-		-		-		-		-
Consumer and other		21		23		21		22		-		1
Total impaired loans	$	3,278	$	3,336	$	477	$	3,286	$	128	$	78


		At December 31, 2019
		Recorded Investment		Unpaid Principal Balance		Related Allowance		Average Recorded Investment		Interest Income Foregone		Interest Income Recognized
Total:		(in thousands)
Commercial and industrial	$	6,558	$	6,920	$	442	$	6,810	$	227	$	206
Residential real estate:
Residential		2,804		3,065		5		2,884		76		64
Construction		-		-		-		-		-		-
Commercial real estate:
Commercial		6,216		6,718		4		6,490		233		76
Construction		1,575		1,598		5		1,586		31		59
Home equities		1,453		1,687		-		1,525		64		30
Consumer and other		21		23		21		22		-		1
Total impaired loans	$	18,627	$	20,011	$	477	$	19,317	$	631	$	436

Loans Classified As Troubled Debt Restructurings



		March 31, 2020
		(in thousands)
		Total		Nonaccruing		Accruing		Related Allowance
Commercial and industrial	$	2,017	$	1,781	$	236	$	396
Residential real estate:
Residential		1,681		498		1,183		-
Construction		-		-		-		-
Commercial real estate:
Commercial and multi-family		3,577		3,040		537		-
Construction		-		-		-		-
Home equities		671		170		501		-
Consumer and other		-		-		-		-
Total TDR loans	$	7,946	$	5,489	$	2,457	$	396



		December 31, 2019
		(in thousands)
		Total		Nonaccruing		Accruing		Related Allowance
Commercial and industrial	$	2,052	$	328	$	1,724	$	26
Residential real estate:
Residential		1,815		449		1,366		-
Construction		-		-		-		-
Commercial real estate:
Commercial and multi-family		3,632		3,075		557		-
Construction		-		-		-		-
Home equities		738		175		563		-
Consumer and other		21		-		21		21
Total TDR loans	$	8,258	$	4,027	$	4,231	$	47

TDR Activity By Type Of Concession Granted To Borrower


	Three months ended March 31, 2020					Three months ended March 31, 2019
	(Recorded Investment in thousands)					(Recorded Investment in thousands)
Troubled Debt Restructurings by Type of Concession	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment	Number of Contracts		Pre-Modification Outstanding Recorded Investment		Post-Modification Outstanding Recorded Investment

Commercial and Industrial		$		$			$		$
Residential Real Estate & Construction:			-		-	-		-		-
Combination of concessions	1		56		56	-		-		-
Commercial Real Estate & Construction
Home Equities:			-		-	-		-		-
Extension of maturity and
interest rate reduction	-		-		-	1		109		109
Consumer and other loans	-		-		-	-		-		-
Other	-		-		-	-		-		-