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Loans And The Allowance For Loan Losses (Tables)
 9 Months Ended
Sep. 30, 2020
Loans And The Allowance For Loan Losses [Abstract]  
Schedule Of Loan Portfolio Composition

September 30, 2020

December 31, 2019

Mortgage loans on real estate:

(in thousands)

Residential mortgages

$

364,598 

$

158,572 

Commercial and multi-family

702,624 

645,036 

Construction-Residential

6,761 

1,067 

Construction-Commercial

102,011 

97,848 

Home equities

84,863 

69,351 

Total real estate loans

1,260,857 

971,874 

Commercial and industrial loans

448,092 

251,197 

Consumer and other loans

412 

1,926 

Unaccreted yield adjustments*

(6,285)

1,534 

Total gross loans

1,703,076 

1,226,531 

Allowance for loan losses

(20,601)

(15,175)

Loans, net

$

1,682,475 

$

1,211,356 

* Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated, including $5.8 million of PPP fees at September 30, 2020.
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans

September 30, 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

$

52,162 

$

314,997 

$

367,159 

$

339,810 

Watch

21,322 

303,965 

325,287 

87,414 

Special Mention

2,088 

13,985 

16,073 

5,855 

Substandard

26,439 

69,677 

96,116 

15,013 

Doubtful/Loss

-

-

-

-

Total

$

102,011 

$

702,624 

$

804,635 

$

448,092 

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

September 30, 2020

(in thousands)

Current

Non-accruing

Total

Balance

30-59 days

60-89 days

90+ days

Loans

Balance

Commercial and industrial

$

440,340 

$

575 

$

227 

$

-

$

6,950 

$

448,092 

Residential real estate:

Residential

360,418 

58 

1,266 

-

2,856 

364,598 

Construction

6,038 

-

723 

-

-

6,761 

Commercial real estate:

Commercial

687,280 

-

6,053 

594 

8,697 

702,624 

Construction

100,555 

-

150 

-

1,306 

102,011 

Home equities

82,864 

929 

11 

-

1,059 

84,863 

Consumer and other

398 

3 

7 

4 

-

412 

Total Loans

$

1,677,893 

$

1,565 

$

8,437 

$

598 

$

20,868 

$

1,709,361 

Note: Loan balances do not include $(6.3) million of unaccreted yield adjustments as of September 30, 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 of unamortized yield adjustments 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 September 30, 2020 and 2019.

September 30, 2020

Commercial and Industrial

Commercial Real Estate Mortgages*

Consumer and Other

Residential Mortgages*

Home Equities

Total

Allowance for loan

(in thousands)

losses:

Beginning balance

$

5,260 

$

11,625 

$

233 

$

1,147 

489 

$

18,754 

Charge-offs

(124)

(5)

(14)

-

-

(143)

Recoveries

105 

-

4 

-

-

109 

Provision (Credit)

(23)

1,843 

(187)

218 

30 

1,881 

Ending balance

$

5,218 

$

13,463 

$

36 

$

1,365 

$

519 

$

20,601 

September 30, 2019

Commercial and Industrial

Commercial Real Estate Mortgages*

Consumer and Other

Residential Mortgages*

Home Equities

Total

Allowance for loan

(in thousands)

losses:

Beginning balance

$

5,272 

$

8,637 

$

130 

$

883 

$

326 

$

15,248 

Charge-offs

(91)

(55)

(40)

-

-

(186)

Recoveries

747 

-

4 

-

-

751 

Provision (Credit)

(732)

358 

45 

(87)

(15)

(431)

Ending balance

$

5,196 

$

8,940 

$

139 

$

796 

$

311 

$

15,382 

* Includes construction loans


‎

The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2020 and 2019:

Nine months ended September 30, 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

(143)

(5)

(44)

(29)

(4)

(225)

Recoveries

141 

11 

22 

-

-

174 

Provision (Credit)

673 

4,452 

(97)

323 

126 

5,477 

Ending balance

$

5,218 

$

13,463 

$

36 

$

1,365 

$

519 

$

20,601 

* Includes construction loans

Note: Loan balances do not include $(6.3) million of unaccreted yield adjustments as of September 30, 2020.

Nine months ended September 30, 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

(248)

(56)

(94)

-

-

(398)

Recoveries

786 

-

13 

-

-

799 

Provision (Credit)

290 

152 

114 

(325)

(34)

197 

Ending balance

$

5,196 

$

8,940 

$

139 

$

796 

$

311 

$

15,382 

* Includes construction loans

Note: Loan balances do not include $1.6 million of unamortized yield adjustments as of September 30, 2019.


‎

The following table presents the allocation of the allowance for loan losses according to portfolio segment summarized on the basis of the Company’s impairment methodology as of September 30, 2020 and December 31, 2020:

September 30, 2020

(in thousands)

Commercial and Industrial

Commercial Real Estate Mortgages*

Consumer and Other

Residential Mortgages*

Home Equities

Total

Allowance for loan

losses:

Ending balance:

Loans acquired with deteriorated credit quality

$

-

$

-

$

-

$

-

$

-

$

-

Individually evaluated for impairment

1,103 

154 

-

-

-

1,257 

Collectively evaluated for impairment

4,115 

13,309 

36 

1,365 

519 

19,344 

Total

$

5,218 

$

13,463 

$

36 

$

1,365 

$

519 

$

20,601 

Loans:

Ending balance:

Loans acquired with deteriorated credit quality

$

-

$

-

$

-

$

870 

$

-

$

870 

Individually evaluated for impairment

7,160 

10,502 

-

3,138 

1,492 

22,292 

Collectively evaluated for impairment

440,932 

794,133 

412 

367,351 

83,371 

1,686,199 

Total

$

448,092 

$

804,635 

$

412 

$

371,359 

$

84,863 

$

1,709,361 

* Includes construction loans


‎

December 31, 2019

(in thousands)

Commercial and Industrial

Commercial Real Estate Mortgages*

Consumer and Other

Residential Mortgages*

Home Equities

Total

Allowance for loan

losses:

Ending balance:

Individually evaluated for impairment

$

442 

$

9 

$

21 

$

5 

$

-

$

477 

Collectively evaluated for impairment

4,105 

8,996 

134 

1,066 

397 

14,698 

Total

$

4,547 

$

9,005 

$

155 

$

1,071 

$

397 

$

15,175 

Loans:

Ending balance:

Individually evaluated for impairment

$

6,558 

$

7,791 

$

21 

$

2,804 

$

1,453 

$

18,627 

Collectively evaluated for impairment

244,639 

735,093 

1,905 

156,835 

67,898 

1,206,370 

Total

$

251,197 

$

742,884 

$

1,926 

$

159,639 

$

69,351 

$

1,224,997 

* Includes construction loans
Data, At Class Level, Of Impaired Loans

At September 30, 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

$

2,358 

$

2,580 

$

-

$

2,624 

$

79 

$

29 

Residential real estate:

Residential

3,954 

4,314 

-

4,018 

76 

49 

Construction

-

-

-

-

 

-

 

-

Commercial real estate:

Commercial

5,824 

6,398 

-

6,056 

180 

36 

Construction

1,306 

1,352 

-

1,326 

26 

-

Home equities

1,492 

1,714 

-

1,565 

41 

16 

Consumer and other

-

-

-

-

 

-

 

-

Total impaired loans

$

14,934 

$

16,358 

$

-

$

15,589 

$

402 

$

130 


‎

At September 30, 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

$

4,802 

$

4,942 

$

1,103 

$

4,941 

$

189 

$

15 

Residential real estate:

Residential

-

-

-

-

-

-

Construction

-

-

-

-

-

-

Commercial real estate:

Commercial

3,372 

3,396 

154 

3,378 

101 

10 

Construction

-

-

-

-

-

-

Home equities

-

-

-

-

-

-

Consumer and other

-

-

-

-

-

-

Total impaired loans

$

8,174 

$

8,338 

$

1,257 

$

8,319 

$

290 

$

25 

At September 30, 2020

Recorded Investment

Unpaid Principal Balance

Related Allowance

Average Recorded Investment

Interest Income Foregone

Interest Income Recognized

Total:

(in thousands)

Commercial and industrial

$

7,160 

$

7,522 

$

1,103 

$

7,565 

$

268 

$

44 

Residential real estate:

Residential

3,954 

4,314 

-

4,018 

76 

49 

Construction

-

-

-

-

-

-

Commercial real estate:

Commercial

9,196 

9,794 

154 

9,434 

281 

46 

Construction

1,306 

1,352 

-

1,326 

26 

-

Home equities

1,492 

1,714 

-

1,565 

41 

16 

Consumer and other

-

-

-

-

-

-

Total impaired loans

$

23,108 

$

24,696 

$

1,257 

$

23,908 

$

692 

$

155 


‎

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

September 30, 2020

(in thousands)

Total

Nonaccruing

Accruing

Related Allowance

Commercial and industrial

$

1,828 

$

1,618 

$

210 

$

360 

Residential real estate:

Residential

1,741 

589 

1,152 

-

Construction

-

-

-

-

Commercial real estate:

Commercial and multi-family

3,463 

2,965 

498 

-

Construction

-

-

-

-

Home equities

562 

129 

433 

-

Consumer and other

-

-

-

-

Total TDR loans

$

7,594 

$

5,301 

$

2,293 

$

360 

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 September 30, 2020

Three months ended September 30, 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:

Extension of maturity

-

$

-

$

-

1 

$

21 

$

21 

Term-out line of credit

-

-

-

1 

42 

42 

Residential Real Estate & Construction:

Extension of maturity and

interest rate reduction

1 

97 

97 

3 

307 

307 

Commercial Real Estate & Construction

-

-

-

-

-

-

Home Equities:

Extension of maturity and

interest rate reduction

-

-

-

1 

110 

110 

Consumer and other loans

-

-

-

-

-

-

Other

-

-

-

-

-

-


‎

Nine months ended September 30, 2020

Nine months ended September 30, 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:

Extension of maturity

-

$

-

$

-

1 

$

21 

$

21 

Term-out line of credit

-

-

-

1 

42 

42 

Residential Real Estate & Construction:

Combination of concessions

1 

56 

56 

-

-

-

Extension of maturity and

interest rate reduction

1 

97 

97 

3 

307 

307 

Commercial Real Estate & Construction

-

-

-

-

-

-

Home Equities:

Extension of maturity and

interest rate reduction

-

-

-

3 

390 

390 

Consumer and other loans

-

-

-

-

-

-