Enterprise Bancorp (EBTC) 10-Q 9 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Apr. 28, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-33912
Entity Registrant Name	Enterprise Bancorp, Inc.
Entity Incorporation, State or Country Code	MA
Entity Tax Identification Number	04-3308902
Entity Address, Address Line One	222 Merrimack Street,
Entity Address, City or Town	Lowell,
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01852
City Area Code	(978)
Local Phone Number	459-9000
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	EBTC
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		12,221,905
Entity Central Index Key	0001018399
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Cash and cash equivalents:
Cash and due from banks	$ 42,843	$ 36,901
Interest-earning deposits with banks	172,850	230,688
Total cash and cash equivalents	215,693	267,589
Investments:
Debt securities at fair value (amortized cost of $923,485 and $940,227, respectively)	825,520	816,102
Equity securities at fair value	5,375	4,269
Total investment securities at fair value	830,895	820,371
Federal Home Loan Bank ("FHLB") stock	2,343	2,343
Loans held for sale	362	0
Loans:
Total loans	3,230,156	3,180,518
Allowance for credit losses	(55,002)	(52,640)
Net loans	3,175,154	3,127,878
Premises and equipment, net	43,821	44,228
Lease right-of-use asset	24,751	24,923
Accrued interest receivable	18,540	17,117
Deferred income taxes, net	44,432	51,981
Bank-owned life insurance	64,463	64,156
Prepaid income taxes	3,636	683
Prepaid expenses and other assets	12,150	11,408
Goodwill	5,656	5,656
Total assets	4,441,896	4,438,333
Liabilities
Deposits	4,016,156	4,035,806
Borrowed funds	3,199	3,216
Subordinated debt	59,261	59,182
Lease liability	24,285	24,415
Accrued expenses and other liabilities	25,737	31,442
Accrued interest payable	1,940	2,005
Total liabilities	4,130,578	4,156,066
Commitments and Contingencies
Shareholders' Equity
Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued	0	0
Common stock, $0.01 par value per share; 40,000,000 shares authorized; 12,222,717 and 12,133,516 shares issued and outstanding, respectively	122	121
Additional paid-in capital	104,621	103,793
Retained earnings	282,534	274,560
Accumulated other comprehensive loss	(75,959)	(96,207)
Total shareholders' equity	311,318	282,267
Total liabilities and shareholders' equity	$ 4,441,896	$ 4,438,333

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Debt securities, amortized cost	$ 923,485	$ 940,227
Preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, shares issued (in shares)	0	0
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,222,717	12,133,516
Common stock, outstanding (in shares)	12,222,717	12,133,516

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Interest and dividend income:
Loans and loans held for sale	$ 39,556	$ 30,695
Investment securities	5,073	4,588
Other interest-earning assets	2,208	181
Total interest and dividend income	46,837	35,464
Interest expense:
Deposits	5,987	600
Borrowed funds	12	13
Subordinated debt	867	818
Total interest expense	6,866	1,431
Net interest income	39,971	34,033
Provision for credit losses	2,736	530
Net interest income after provision for credit losses	37,235	33,503
Non-interest income:
Wealth management fees	1,587	1,729
Deposit and interchange fees	2,048	1,802
Income on bank-owned life insurance, net	307	295
Net gains on sales of debt securities	0	1,062
Net gains on sales of loans	14	22
Loss on equity securities	(16)	(67)
Other income	817	752
Total non-interest income	4,757	5,595
Non-interest expense:
Salaries and employee benefits	18,521	16,792
Occupancy and equipment expenses	2,501	2,415
Technology and telecommunications expenses	2,675	2,636
Advertising and public relations expenses	681	667
Audit, legal and other professional fees	640	710
Deposit insurance premiums	675	556
Supplies and postage expenses	255	220
Other operating expenses	2,092	1,761
Total non-interest expense	28,040	25,757
Income before income taxes	13,952	13,341
Provision for income taxes	3,184	3,054
Net income	$ 10,768	$ 10,287
Basic earnings per share (in dollars per share)	$ 0.89	$ 0.85
Diluted earnings per share (in dollars per share)	$ 0.88	$ 0.85
Basic weighted average common shares outstanding (in shares)	12,155,320	12,055,991
Diluted weighted average common shares outstanding (in shares)	12,193,756	12,119,836

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Comprehensive Income [Abstract]
Net income	$ 10,768	$ 10,287
Other comprehensive income (loss), net of tax
Net change in fair value of debt securities	20,248	(44,962)
Total other comprehensive income (loss), net of tax	20,248	(44,962)
Total comprehensive income (loss), net	$ 31,016	$ (34,675)

Consolidated Statement of Chang

Consolidated Statement of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2021		12,038,382
Balance, beginning at Dec. 31, 2021	$ 346,895	$ 120	$ 100,352	$ 241,761	$ 4,662
Increase (Decrease) in Stockholders' Equity
Net income	10,287			10,287
Other comprehensive income, net	(44,962)				(44,962)
Common stock dividend declared	(2,469)			(2,469)
Common stock issued under dividend reinvestment plan (in shares)		8,915
Common stock issued under dividend reinvestment plan	346	$ 0	346
Common stock issued, other (in shares)		241
Common stock issued, other	10	$ 0	10
Stock-based compensation, net (in shares)		59,949
Stock-based compensation, net	660	$ 1	659
Net settlement for employee taxes on restricted stock and options (in shares)		(7,728)
Net settlement for employee taxes on restricted stock and options	(286)	$ 0	(286)
Stock options exercised, net (in shares)		3,429
Stock options exercised, net	58	$ 0	58
Ending balance (in shares) at Mar. 31, 2022		12,103,188
Balance, ending at Mar. 31, 2022	$ 310,539	$ 121	101,139	249,579	(40,300)
Beginning balance (in shares) at Dec. 31, 2022	12,133,516	12,133,516
Balance, beginning at Dec. 31, 2022	$ 282,267	$ 121	103,793	274,560	(96,207)
Increase (Decrease) in Stockholders' Equity
Net income	10,768			10,768
Other comprehensive income, net	20,248				20,248
Common stock dividend declared	(2,794)			(2,794)
Common stock issued under dividend reinvestment plan (in shares)		10,395
Common stock issued under dividend reinvestment plan	370	$ 0	370
Common stock issued, other (in shares)		207
Common stock issued, other	7	$ 0	7
Stock-based compensation, net (in shares)		70,943
Stock-based compensation, net	711	$ 1	710
Net settlement for employee taxes on restricted stock and options (in shares)		(5,954)
Net settlement for employee taxes on restricted stock and options	(348)	$ 0	(348)
Stock options exercised, net (in shares)		13,610
Stock options exercised, net	$ 89	$ 0	89
Ending balance (in shares) at Mar. 31, 2023	12,222,717	12,222,717
Balance, ending at Mar. 31, 2023	$ 311,318	$ 122	$ 104,621	$ 282,534	$ (75,959)

Consolidated Statement of Cha_2

Consolidated Statement of Changes in Shareholders' Equity (Parenthetical) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Statement of Stockholders' Equity [Abstract]
Common stock dividends declared (in usd per share)	$ 0.230	$ 0.205

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash flows from operating activities:
Net income	$ 10,768	$ 10,287
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Provision for credit losses	2,736	530
Depreciation and amortization	1,660	1,733
Stock-based compensation expense	522	478
Income on bank-owned life insurance, net	(307)	(295)
Net gains on sales of debt securities	0	(1,062)
Mortgage loans originated for sale	(1,188)	(819)
Proceeds from mortgage loans sold	840	841
Net gains on sales of loans	(14)	(22)
Net loss on equity securities	16	67
Changes in:
Net increase in other assets	(3,597)	(6,124)
Net decrease in other liabilities	(5,762)	(8,879)
Net cash provided by (used in) operating activities	5,674	(3,265)
Cash flows from investing activities:
Proceeds from sales of debt securities	0	32,715
Purchase of debt securities	0	(66,833)
Proceeds from maturities, calls and pay-downs of debt securities	16,433	26,067
Net purchases of equity securities	(1,122)	(1,243)
Net purchases of FHLB capital stock	0	116
Net increase in loans	(49,594)	(42,142)
Additions to premises and equipment, net	(944)	(1,719)
Net cash used in investing activities	(35,227)	(53,039)
Cash flows from financing activities:
Net (decrease) increase in deposits	(19,650)	54,261
Net decrease in borrowed funds	(17)	(2,505)
Cash dividends paid, net of dividend reinvestment plan	(2,424)	(2,123)
Proceeds from issuance of common stock	7	10
Net settlement for employee taxes on restricted stock and options	(348)	(286)
Net proceeds from stock option exercises	89	58
Net cash (used in) provided by financing activities	(22,343)	49,415
Net decrease in cash and cash equivalents	(51,896)	(6,889)
Cash and cash equivalents at beginning of period	267,589	436,576
Cash and cash equivalents at end of period	$ 215,693	$ 429,687

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies (a) Organization of the Company and Basis of Presentation The accompanying unaudited consolidated interim financial statements and these notes should be read in conjunction with the December 31, 2022 audited consolidated financial statements and notes thereto contained in the Annual Report on Form 10-K of Enterprise Bancorp, Inc. (the "Company," "Enterprise," "we," or "our") for the year ended December 31, 2022 (the "2022 Annual Report on Form 10-K") as filed with the Securities and Exchange Commission (the "SEC") on March 8, 2023. The Company has not materially changed its significant accounting policies from those disclosed in its 2022 Annual Report on Form 10-K. See Item (d), " Recent Accounting Pronouncements ," below in this Note 1. The accompanying unaudited consolidated interim financial statements of the Company include the accounts of the Company and its wholly owned subsidiary, Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank (the "Bank"). The Bank is a Massachusetts trust company and state chartered commercial bank organized in 1989. Substantially all of the Company's operations are conducted through the Bank and its subsidiaries. The Bank's subsidiaries include Enterprise Insurance Services, LLC and Enterprise Wealth Services, LLC, both organized under the laws of the State of Delaware, to engage in insurance sales activities and offer non-deposit investment products and services, respectively. In addition, the Bank has the following subsidiaries that are incorporated in the Commonwealth of Massachusetts and classified as security corporations in accordance with applicable Massachusetts General Laws: Enterprise Security Corporation; Enterprise Security Corporation II; and Enterprise Security Corporation III. The security corporations, which hold various types of qualifying securities, are limited to conducting investment activities that the Bank itself would be allowed to conduct under applicable laws. In February 2023, the Bank organized the EBTC NMTC Investment Fund - CHC, LLC (the "NMTC Investment Fund") under the laws of the State of Delaware, in conjunction with the Banks investment in a qualifying New Market Tax Credit ("NMTC") project. The NMTC Investment Fund is the Company's only unconsolidated Variable Interest Entity ("VIE"). The services offered through the Bank and its subsidiaries are managed as one strategic unit and represent the Company's only reportable operating segment. The accompanying unaudited consolidated interim financial statements, and notes thereto, in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 (this "Form 10-Q"), have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the SEC instructions for Quarterly Reports on Form 10-Q. In the opinion of management, the accompanying unaudited consolidated interim financial statements reflect all necessary adjustments, consisting of normal recurring accruals and elimination of intercompany balances, for a fair presentation. Interim results are not necessarily indicative of results to be expected for the entire year, or any future period. (b) Uses of Estimates In preparing the unaudited consolidated interim financial statements in conformity with GAAP, management is required to exercise judgment in determining many of the methodologies, assumptions and estimates to be utilized. These assumptions and estimates affect the reported values of assets and liabilities as of the balance sheet dates and income and expenses for the period then ended. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates should the assumptions and estimates used be incorrect or change over time due to changes in circumstances. Changes in those estimates resulting from continuing changes in the economic environment and other factors will be reflected in the consolidated financial statements and results of operations in future periods. As discussed in the Company's 2022 Annual Report on Form 10-K, the most significant areas in which management applies critical assumptions and estimates are: the estimates of the allowance for credit losses ("ACL") for loans, available for sale securities and reserve for unfunded commitments, and the impairment review of goodwill. Refer to Note 1, "Summary of Significant Accounting Policies," to the Company's audited consolidated financial statements included in the Company's 2022 Annual Report on Form 10-K for accounting policies related to these significant estimates. (c) Unconsolidated Variable Interest Entity / Proportional Accounting In March 2023, the Bank made an equity contribution to the NMTC Investment Fund a newly formed Limited Liability Company in order to invest in NMTC, a program, which is administered by the U.S. Department of the Treasury's Community Development Financial Institutions Fund and allocated to Community Development Entities ("CDE"). The NMTC program provides federal tax incentives for investments in distressed communities and promotes economic improvements through the development of successful businesses in these communities. The NMTCs are available to investors over a seven-year period and are subject to recapture if certain events occur during such period. The Bank invested $3.7 million in the Investment Fund and anticipates receiving $4.8 million of federal tax credits over the next seven years (5% in each of the first three years, and 6% in each of the next four years). The underlying project is structured through a qualified CDE, which in turn has made loans to a qualified active low-income business. The Bank has no unfunded commitments associated with its NMTC investment. The Company has elected to account for the tax equity investment, using the proportional amortization method. Under this method the NMTC Investment Fund is not consolidated with the Company and instead, the initial cost of the investment is amortized in proportion to the amount of tax credits and other tax benefits received over the allotment period. The investment is carried within the line "Prepaid expenses and other assets" on the Company's Consolidated Balance Sheet and the investment amortization expense and tax credits are presented on a net basis within the line "Provision for income taxes" on the Company's Consolidated Statements of Income. During the three months ended March 31, 2023, the related amortization expense and tax credits amounted to $44 thousand and $153 thousand, respectively. (d) Recent Accounting Pronouncements Accounting pronouncements adopted by the Company In March 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-02, "Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The election can be made for each individual qualifying tax credit investment. Under the proportional amortization method, the initial cost of an investment is amortized in proportion to the amount of tax credits and other tax benefits received, with the amortization and tax credits recognized as a component of income tax expense. To qualify for the proportional amortization method, all of the following conditions must be met: (1) It is probable that the income tax credits allocated to the tax equity investor will be available; (2) The tax equity investor does not have the ability to exercise significant influence over the operating and financial policies of the underlying project; (3) Substantially all of the projected benefits are from income tax credits and other income tax benefits; (4) The tax equity investor's projected yield based solely on the cash flows from the income tax credits and other income tax benefits is positive; and (5) The tax equity investor is a limited liability investor in the limited liability entity for both legal and tax purposes, and the tax equity investor's liability is limited to its capital investment. Under the proportional amortization method, the investment shall be tested for impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. An impairment loss shall be measured as the amount by which the carrying amount of an investment exceeds its fair value. A previously recognized impairment loss shall not be reversed. ASU 2023-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The Company has elected to early adopt ASU 2022-01 effective on January 1, 2023, applying the new guidance to a new investment in NMTC made in the first quarter of 2023, and the adoption did not have a significant impact on the financial statements. In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method." This ASU clarifies the guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. The ASU amends the guidance in ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities," that, among other things, established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. The Company adopted ASU 2022-01 effective on January 1, 2023 and the adoption did not have a significant impact on the financial statements. In March 2022, the FASB issued ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures." This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit loss ("CECL") methodology for estimating allowances for credit losses and enhances the disclosure requirements for loan restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross charge-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The Company adopted ASU 2022-02 effective on January 1, 2023, prospectively, and the adoption did not have a significant impact on the financial statements. (e) Subsequent Events The Company has evaluated subsequent events and transactions from March 31, 2023 through the date this Form 10-Q was filed with the SEC for potential recognition or disclosure as required by GAAP and determined there were no material subsequent events requiring recognition or disclosure.

Investment Securities

Investment Securities	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities Debt Securities All of the Company's debt securities were classified as available-for-sale and carried at fair value as of the dates specified in the tables below. The amortized cost and fair values of debt securities at the dates specified are summarized as follows: March 31, 2023 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Federal agency obligations $ 5,012 $ 1 $ — $ 5,013 U.S. treasury securities 45,955 — 2,045 43,910 Federal agency collateralized mortgage obligations ("CMO") 461,436 203 54,796 406,843 Federal agency mortgage-backed securities ("MBS") 23,892 64 2,776 21,180 Taxable municipal securities 287,421 36 37,173 250,284 Tax-exempt municipal securities 82,182 246 485 81,943 Corporate bonds 5,636 — 109 5,527 Subordinated corporate bonds 11,951 — 1,131 10,820 Total debt securities, at fair value $ 923,485 $ 550 $ 98,515 $ 825,520 December 31, 2022 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Federal agency obligations $ 5,014 $ — $ 37 $ 4,977 U.S. treasury securities 45,942 — 2,691 43,251 Federal agency CMO 474,777 3 67,798 406,982 Federal agency MBS 24,172 27 3,178 21,021 Taxable municipal securities 287,435 29 48,187 239,277 Tax-exempt municipal securities 84,457 66 870 83,653 Corporate bonds 6,480 — 186 6,294 Subordinated corporate bonds 11,950 — 1,303 10,647 Total debt securities, at fair value $ 940,227 $ 125 $ 124,250 $ 816,102 At March 31, 2023, management performed its quarterly analysis of all securities with unrealized losses and determined that the losses were primarily attributable to significant increases in market interest rates experienced during the last twelve months. Management concluded that no ACL for available-for-sale securities was necessary as of March 31, 2023 and anticipates they will mature or be called at par value. Accrued interest receivable on available-for-sale debt securities, included in the "Accrued Interest Receivable" line item on the Company's Consolidated Balance Sheets, amounted to $4.8 million and $4.0 million at March 31, 2023 and December 31, 2022, respectively. The following tables summarize the duration of unrealized losses for debt securities at March 31, 2023 and December 31, 2022: March 31, 2023 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized # of Holdings U.S. treasury securities $ — $ — $ 43,910 $ 2,045 $ 43,910 $ 2,045 6 Federal agency CMO 46,380 844 335,270 53,952 381,650 54,796 98 Federal agency MBS — — 19,217 2,776 19,217 2,776 11 Taxable municipal securities 20,486 729 226,761 36,444 247,247 37,173 272 Tax-exempt municipal securities 31,239 155 9,801 330 41,040 485 80 Corporate bonds 4,857 82 670 27 5,527 109 25 Subordinated corporate bonds 1,886 66 8,935 1,065 10,821 1,131 6 Total $ 104,848 $ 1,876 $ 644,564 $ 96,639 $ 749,412 $ 98,515 498 December 31, 2022 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized # of Holdings Federal agency obligations $ 4,977 $ 37 $ — $ — $ 4,977 $ 37 1 U.S. treasury securities 2,878 109 40,374 2,582 43,252 2,691 6 Federal agency CMO 164,391 13,004 233,051 54,794 397,442 67,798 102 Federal agency MBS 9,923 797 9,165 2,381 19,088 3,178 11 Taxable municipal securities 93,345 10,411 144,903 37,776 238,248 48,187 273 Tax-exempt municipal securities 66,277 870 — — 66,277 870 112 Corporate bonds 6,294 186 — — 6,294 186 31 Subordinated corporate bonds 6,206 743 4,440 560 10,646 1,303 6 Total $ 354,291 $ 26,157 $ 431,933 $ 98,093 $ 786,224 $ 124,250 542 The contractual maturity distribution at March 31, 2023 of debt securities was as follows: (Dollars in thousands) Amortized Cost Fair Value Due in one year or less $ 43,577 $ 42,648 Due after one, but within five years 137,025 133,624 Due after five, but within ten years 304,972 267,490 Due after ten years 437,911 381,758 Total debt securities $ 923,485 $ 825,520 Scheduled contractual maturities shown above may not reflect the actual maturities of the investments. The actual MBS/CMO cash flows likely will be faster than presented above due to prepayments and amortization. Similarly, included in the table above are callable securities, comprised of municipal securities and corporate bonds, with a fair value of $162.1 million, which can be redeemed by the issuers prior to the maturity presented above. Management considers these factors when evaluating the interest-rate risk in the Company's asset-liability management program. From time to time, the Company may pledge debt securities as collateral for deposit account balances of municipal customers, and for borrowing capacity with the FHLB and the Federal Reserve Bank of Boston ("FRB"). The fair value of debt securities pledged as collateral for these purposes was $814.7 million and $804.2 million at March 31, 2023 and December 31, 2022, respectively. Sales of debt securities for the three months ended March 31, 2023 and March 31, 2022 are summarized as follows: Three months ended March 31, (Dollars in thousands) 2023 2022 Amortized cost of debt securities sold (1) $ — $ 31,653 Gross realized gains on sales — 1,062 Gross realized losses on sales — — Total proceeds from sales of debt securities $ — $ 32,715 _________________________________________ (1) Amortized cost of investments sold is determined on a specific identification basis and includes pending trades based on trade date, if applicable. Equity Securities The Company held equity securities with a fair value of $5.4 million at March 31, 2023 and $4.3 million at December 31, 2022. At March 31, 2023, the equity portfolio consisted of investments in broad-based equity index funds and common stock of entities in the financial services industry. The equity portfolio also included mutual funds held in conjunction with the Company's supplemental executive retirement and deferred compensation plan. Gains and losses on equity securities for the three months ended March 31, 2023 and March 31, 2022 are summarized as follows: Three months ended March 31, (Dollars in thousands) 2023 2022 Net losses recognized during the period on equity securities $ (16) $ (67) Less: Net gains recognized on equity securities sold during the period — — Unrealized losses recognized during the reporting period on equity securities still held at the end of the period $ (16) $ (67)

Loans

Loans	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Loans	Loans Loan Portfolio Classifications Major classifications of loans and their amortized cost as of the dates indicated were as follows: (Dollars in thousands) March 31, December 31, Commercial real estate $ 1,929,544 $ 1,921,410 Commercial and industrial 423,864 414,490 Commercial construction 456,735 424,049 Total commercial loans 2,810,143 2,759,949 Residential mortgages 335,834 332,632 Home equity loans and lines 75,809 79,807 Consumer 8,370 8,130 Total retail loans 420,013 420,569 Total loans 3,230,156 3,180,518 ACL for loans (55,002) (52,640) Net loans $ 3,175,154 $ 3,127,878 Net deferred loan origination fees, included in the amortized costs of loans reflected in the table above, amounted to $5.1 million at March 31, 2023 and $5.2 million at December 31, 2022. Accrued interest receivable on loans amounted to $13.7 million and $13.1 million at March 31, 2023 and December 31, 2022, respectively, and was included in the "Accrued interest receivable" line item on the Company's Consolidated Balance Sheets. Commercial loans originated by other banks in which the Company is a participating institution are carried at the pro-rata share of ownership and amounted to $101.7 million at March 31, 2023 and $94.8 million at December 31, 2022. See also "Loans serviced for others" below for information related to commercial loans participated out to various other institutions. Loans serviced for others At March 31, 2023 and December 31, 2022, the Company was servicing residential mortgage loans owned by investors amounting to $8.7 million and $8.9 million, respectively. Additionally, the Company was servicing commercial loans originated by the Company and participated out to various other institutions amounting to $58.3 million and $59.1 million at March 31, 2023 and December 31, 2022, respectively. Loans serving as collateral Loans designated as qualified collateral and pledged to the FHLB for borrowing capacity as of the dates indicated are summarized below: (Dollars in thousands) March 31, December 31, Commercial real estate $ 393,513 $ 113,830 Residential mortgages 314,595 309,023 Home equity 33,971 39,724 Total loans pledged to FHLB $ 742,079 $ 462,577

ACL for Loans

ACL for Loans	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
ACL for Loans	ACL for Loans There have been no material changes to the Company's ACL for loans methodology, underwriting practices, or credit risk management system used to estimate credit loss exposure since December 31, 2022. See Note 4, "ACL for Loans," to the Company's audited consolidated financial statements contained in the 2022 Annual Report on Form 10-K. Risk ratings and adversely classified loans The Company's loan risk rating system classifies loans depending on risk of loss characteristics. Adversely classified ratings for loans determined to be of weaker credit range from "special mention," for loans that may need additional monitoring, to the more severe adverse classifications of "substandard," "doubtful," and "loss" based on criteria established under banking regulations. The following tables present the amortized cost basis of the Company's loan portfolio risk ratings within portfolio classifications, by origination date, or revolving status as of the dates indicated: Balance at March 31, 2023 Term Loans by Origination Year (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Commercial real estate Pass $ 32,192 $ 389,368 $ 375,042 $ 200,608 $ 220,511 $ 677,333 $ 1,315 $ — $ 1,896,369 Special mention — — — — 503 19,068 — — 19,571 Substandard — — 280 — 1,014 12,310 — — 13,604 Total commercial real estate 32,192 389,368 375,322 200,608 222,028 708,711 1,315 — 1,929,544 Current period charge-offs — — — — — — — — — Commercial and industrial Pass 18,135 62,802 53,038 31,245 27,351 53,141 170,851 976 417,539 Special mention — — — — — 282 2,192 925 3,399 Substandard — — 19 — 7 602 2,298 — 2,926 Total commercial and industrial 18,135 62,802 53,057 31,245 27,358 54,025 175,341 1,901 423,864 Current period charge-offs 5 6 — — — 72 — — 83 Commercial construction Pass 22,313 162,026 182,219 33,775 23,818 7,533 21,053 — 452,737 Special mention — — — — 3,998 — — — 3,998 Total commercial construction 22,313 162,026 182,219 33,775 27,816 7,533 21,053 — 456,735 Current period charge-offs — — — — — — — — — Residential mortgages Pass 6,516 113,213 72,701 48,817 19,705 72,358 — — 333,310 Special mention — — — — — 113 — — 113 Substandard — — — — 1,055 1,356 — — 2,411 Total residential mortgages 6,516 113,213 72,701 48,817 20,760 73,827 — — 335,834 Current period charge-offs — — — — — — — — — Home equity Pass — 421 588 453 338 2,152 71,443 46 75,441 Substandard — — 273 — — 95 — — 368 Total home equity — 421 861 453 338 2,247 71,443 46 75,809 Current period charge-offs — — — — — — — — — Consumer Pass 652 3,257 1,705 977 933 846 — — 8,370 Total consumer 652 3,257 1,705 977 933 846 — — 8,370 Current period charge-offs 1 5 — — — — — — 6 Total loans $ 79,808 $ 731,087 $ 685,865 $ 315,875 $ 299,233 $ 847,189 $ 269,152 $ 1,947 $ 3,230,156 Total current period charge-offs $ 6 $ 11 $ — $ — $ — $ 72 $ — $ — $ 89 Balance at December 31, 2022 Term Loans by Origination Year (Dollars in thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Total Commercial real estate Pass $ 391,515 $ 381,771 $ 204,125 $ 218,664 $ 114,175 $ 577,354 $ 1,347 $ 200 $ 1,889,151 Special mention — — — 507 2,041 16,248 — — 18,796 Substandard — 289 — 1,160 1,404 10,610 — — 13,463 Total commercial real estate 391,515 382,060 204,125 220,331 117,620 604,212 1,347 200 1,921,410 Commercial and industrial Pass 59,824 53,059 33,027 29,293 13,364 43,724 171,670 3,235 407,196 Special mention — — — 11 66 278 3,132 — 3,487 Substandard — 19 — 8 138 325 2,964 353 3,807 Total commercial and industrial 59,824 53,078 33,027 29,312 13,568 44,327 177,766 3,588 414,490 Commercial construction Pass 151,107 169,549 35,651 31,189 7,729 3,379 19,778 1,473 419,855 Special mention — — — 3,900 — — — — 3,900 Substandard — 294 — — — — — — 294 Total commercial construction 151,107 169,843 35,651 35,089 7,729 3,379 19,778 1,473 424,049 Residential mortgages Pass 112,804 73,955 49,549 20,140 18,799 54,620 — — 329,867 Special mention — — — — — 325 — — 325 Substandard — — — 1,060 — 1,380 — — 2,440 Total residential mortgages 112,804 73,955 49,549 21,200 18,799 56,325 — — 332,632 Home equity Pass 328 596 456 345 — 1,220 75,324 1,054 79,323 Substandard — 273 — — — 211 — — 484 Total home equity 328 869 456 345 — 1,431 75,324 1,054 79,807 Consumer Pass 3,144 1,852 1,063 1,045 606 420 — — 8,130 Total consumer 3,144 1,852 1,063 1,045 606 420 — — 8,130 Total loans $ 718,722 $ 681,657 $ 323,871 $ 307,322 $ 158,322 $ 710,094 $ 274,215 $ 6,315 $ 3,180,518 The total amortized cost basis of adversely classified loans amounted to $46.4 million, or 1.44% of total loans, at March 31, 2023, and $47.0 million, or 1.48% of total loans, at December 31, 2022. Past due and non-accrual loans The following tables present an age analysis of past due loans by portfolio classification as of the dates indicated: Balance at March 31, 2023 (Dollars in thousands) 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Due Loans (1) Current Loans (1) Total Commercial real estate $ 2,589 $ 384 $ 2,091 $ 5,064 $ 1,924,480 $ 1,929,544 Commercial and industrial 206 601 78 885 422,979 423,864 Commercial construction — — — — 456,735 456,735 Residential mortgages 431 1,055 — 1,486 334,348 335,834 Home equity 119 — 73 192 75,617 75,809 Consumer 14 45 — 59 8,311 8,370 Total loans $ 3,359 $ 2,085 $ 2,242 $ 7,686 $ 3,222,470 $ 3,230,156 Balance at December 31, 2022 (Dollars in thousands) 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Due Loans (1) Current Loans (1) Total Commercial real estate $ 2,818 $ 1,268 $ 1,631 $ 5,717 $ 1,915,693 $ 1,921,410 Commercial and industrial 786 39 217 1,042 413,448 414,490 Commercial construction 412 — 294 706 423,343 424,049 Residential mortgages 1,119 55 149 1,323 331,309 332,632 Home equity 163 — 73 236 79,571 79,807 Consumer 21 — — 21 8,109 8,130 Total loans $ 5,319 $ 1,362 $ 2,364 $ 9,045 $ 3,171,473 $ 3,180,518 _______________________________________ (1) The loan balances in the tables above include loans designated as non-accrual according to their payment due status. At March 31, 2023 and December 31, 2022, all loans past due 90 days or more were carried as non-accrual, however, not all non-accrual loans were 90 days or more past due in their payments. Loans that were less than 90 days past due where reasonable doubt existed as to the full and timely collection of interest or principal have also been designated as non-accrual, despite their payment due status. The following tables present the amortized cost of non-accrual loans by portfolio classification as of the dates indicated: Balance at March 31, 2023 (Dollars in thousands) Total Non-accrual Loans Non-accrual Loans without a Specific Reserve Non-accrual Loans with a Specific Reserve Related Specific Commercial real estate $ 4,926 $ 3,912 $ 1,014 $ 274 Commercial and industrial 673 325 348 309 Commercial construction — — — — Residential mortgages 1,565 1,565 — — Home equity 368 95 273 85 Consumer — — — — Total loans $ 7,532 $ 5,897 $ 1,635 $ 668 Balance at December 31, 2022 (Dollars in thousands) Total Non-accrual Loans Non-accrual Loans without a Specific Reserve Non-accrual Loans with a Specific Reserve Related Specific Commercial real estate $ 3,355 $ 2,317 $ 1,038 $ 298 Commercial and industrial 730 348 382 382 Commercial construction 294 294 — — Residential mortgages 1,532 1,532 — — Home equity 211 211 — — Consumer — — — — Total loans $ 6,122 $ 4,702 $ 1,420 $ 680 The ratio of non-accrual loans to total loans amounted to 0.23% and 0.19% at March 31, 2023 and December 31, 2022, respectively. At March 31, 2023 and December 31, 2022, additional funding commitments for non-accrual loans were not material. Collateral dependent loans The total recorded investment in collateral dependent loans amounted to $22.8 million at March 31, 2023 compared to $25.2 million at December 31, 2022. Total accruing collateral dependent loans amounted to $15.6 million while non-accrual collateral dependent loans amounted to $7.2 million as of March 31, 2023. As of December 31, 2022, total accruing collateral dependent loans amounted to $19.5 million, while non-accrual collateral dependent loans amounted to $5.7 million. The following tables present the recorded investment in collateral dependent loans and the related specific allowance by portfolio allocation as of the dates indicated: Balance at March 31, 2023 (Dollars in thousands) Unpaid Total Recorded Recorded Recorded Related Specific Commercial real estate $ 22,783 $ 20,163 $ 19,149 $ 1,014 $ 274 Commercial and industrial 2,867 562 524 38 12 Commercial construction — — — — — Residential mortgages 1,873 1,678 1,678 — — Home equity 435 368 95 273 85 Consumer — — — — — Total $ 27,958 $ 22,771 $ 21,446 $ 1,325 $ 371 Balance at December 31, 2022 (Dollars in thousands) Unpaid Total Recorded Recorded Recorded Related Specific Commercial real estate $ 24,530 $ 21,916 $ 20,878 $ 1,038 $ 298 Commercial and industrial 3,210 863 863 — — Commercial construction 294 294 294 — — Residential mortgages 2,096 1,914 1,914 — — Home equity 386 211 211 — — Consumer — — — — — Total $ 30,516 $ 25,198 $ 24,160 $ 1,038 $ 298 At March 31, 2023 and December 31, 2022, additional funding commitments for collateral dependent loans were not material. Loan modifications to borrowers experiencing financial difficulty Effective on January 1, 2023, the Company adopted ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings ("TDR") and Vintage Disclosures," which eliminated the accounting guidance for TDRs and enhanced the disclosure requirements for loan restructurings made with borrowers experiencing financial difficulty. The adoption did not have a significant impact on the financial statements. The Company continues to work with loan customers and may enter into loan modifications to the extent deemed to be necessary or appropriate while attempting to achieve the best mutual outcome given the individual financial circumstances and future prospects of the borrower. An assessment of whether a borrower is experiencing financial difficulty is made on the date of the modification. Modifications made to borrowers experiencing financial difficulty may be concessions in the form of principal forgiveness, interest rate reductions, payment deferrals of principal, interest or both, or term extensions, or some combination thereof. When a debt has been previously modified, the Company considers the cumulative effect of modifications made within the prior twelve-month period before the current modification, when determining whether a delay in payment resulting from the current modification is insignificant, or not. The following table presents the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty by type of concession granted during the period indicated: Three months ended March 31, 2023 (Dollars in thousands) Payment Deferrals % of Loan Class Total Commercial real estate $ 281 0.01 % Commercial and industrial 38 0.01 % Total $ 319 0.01 % The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the period indicated: Three months ended March 31, 2023 Weighted-Average Payment Deferrals Commercial real estate 0.5 years Commercial and industrial 0.5 years The Company closely monitors the performance of the loans that are modified to borrowers experiencing financial difficulty to understand the effectiveness of its modification efforts. The following table presents the performance status of loans that had been modified within the preceding twelve months for borrowers experiencing financial difficulty, at the period indicated. Balance at March 31, 2023 (Dollars in thousands) Current 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Commercial real estate $ 406 $ — $ — $ 1,014 $ 1,014 Commercial and industrial 237 — — — — Commercial construction — — — — — Residential mortgages — — — — — Home equity — — — — — Consumer — — — — — Total $ 643 $ — $ — $ 1,014 $ 1,014 During the three months ended March 31, 2023, there were no subsequent defaults on loans that had been modified within the preceding twelve months for borrowers experiencing financial difficulty, and at March 31, 2023, additional funding commitments to borrowers experiencing financial difficulty who were party to a loan modification were immaterial. Prior-period troubled debt restructuring disclosures Prior to adopting the new accounting standard on loan modifications, the Company accounted for modifications of loans to borrowers experiencing financial difficulty as TDRs, when the modification resulted in a concession and specific reserves were charged to the ACL if necessary for the amount of estimated credit loss. The following discussion reflects loans that were considered TDRs prior to January 1, 2023. For further information on the Company's TDR accounting policies, see Note 1, "Summary of Significant Accounting Policies," to the Company's audited consolidated financial statements contained in the 2022 Annual Report on Form 10-K. At March 31, 2022, additional funding commitments for TDR loans were immaterial. The following table presents the number and balance of loans modified as TDRs, by portfolio classification, during the period indicated: Three months ended March 31, 2022 (Dollars in thousands) Number of Pre-modification Post-modification Commercial real estate 2 $ 1,718 $ 1,699 Total 2 $ 1,718 $ 1,699 There were no subsequent charge-offs associated with the TDRs noted in the table above during the three months ended March 31, 2022. Payment defaults by portfolio classification, during the three months indicated, on loans modified as TDRs within the preceding twelve months are detailed below: Three months ended March 31, 2022 (Dollars in thousands) Number of TDRs that Defaulted Post-modification Outstanding Commercial and industrial 1 $ 48 Total 1 $ 48 The following table sets forth the post modification balances of TDRs listed by type of modification for TDRs that occurred during the three-month period indicated: Three months ended March 31, 2022 (Dollars in thousands) Number of Amount Temporary payment reduction and payment re-amortization of remaining principal over extended term 1 $ 1,404 Temporary interest only payment plan 1 295 Total 2 $ 1,699 Amount of ACL for loans associated with TDRs listed above $ — ACL for loans and provision for credit loss activity The following table presents changes in the provision for credit losses on loans and unfunded commitments during the three-month periods indicated: Three months ended (Dollars in thousands) March 31, March 31, Provision for credit losses on loans $ 2,318 $ 825 Provision for unfunded commitments 418 (295) Total provision for credit losses $ 2,736 $ 530 ACL for loans The ACL for loans amounted to $55.0 million and $52.6 million at March 31, 2023 and December 31, 2022, respectively. The ACL for loans to total loans ratio was 1.70% and 1.66% at March 31, 2023 and December 31, 2022, respectively. The following tables present changes in the ACL for loans by portfolio classification, during the three months indicated: (Dollars in thousands) Commercial Real Commercial and Commercial Construction Residential Home Consumer Total Beginning Balance at December 31, 2022 $ 36,564 $ 8,896 $ 3,961 $ 2,255 $ 633 $ 331 $ 52,640 Provision for credit losses on loans 1,161 438 492 123 76 28 2,318 Recoveries — 127 — — 3 3 133 Less: Charge-offs — 83 — — — 6 89 Ending Balance at March 31, 2023 $ 37,725 $ 9,378 $ 4,453 $ 2,378 $ 712 $ 356 $ 55,002 (Dollars in thousands) Commercial Real Commercial and Commercial Construction Residential Home Consumer Total Beginning Balance at December 31, 2021 $ 31,847 $ 9,574 $ 4,090 $ 1,405 $ 465 $ 323 $ 47,704 Provision for credit losses on loans 2,089 (543) (572) (83) (15) (51) 825 Recoveries — 24 — — 4 5 33 Less: Charge-offs — 105 — — — 33 138 Ending Balance at March 31, 2022 $ 33,936 $ 8,950 $ 3,518 $ 1,322 $ 454 $ 244 $ 48,424 Reserve for unfunded commitments The Company's reserve for unfunded commitments amounted to $4.7 million at March 31, 2023 and $4.3 million at December 31, 2022. Management believes that the Company's ACL for loans and reserve for unfunded commitments were adequate as of March 31, 2023. Other real estate owned ("OREO") The Company carried no OREO at March 31, 2023 and December 31, 2022. At March 31, 2023 and December 31, 2022, the Company had no consumer mortgage loans secured by residential real estate properties for which formal foreclosure proceedings were in process according to local requirements of the applicable jurisdictions.

Leases

Leases	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Leases	LeasesAs of March 31, 2023, the Company had 16 facilities contracted under various non-cancelable operating leases, most of which provide options to the Company to extend the lease periods and include periodic rent adjustments. Lease expense for the three months ended March 31, 2023 and March 31, 2022 were $404 thousand and $416 thousand, respectively. Variable lease costs and short-term lease expenses included in lease expense during these periods were immaterial. The weighted average remaining lease term for operating leases at March 31, 2023 and March 31, 2022 was 29.2 years and 30.1 years, respectively. The weighted average discount rate was 3.51% at March 31, 2023 and 3.45% at March 31, 2022. At March 31, 2023, the remaining undiscounted cash flows by year of these lease liabilities were as follows: (Dollars in thousands) Operating Leases 2023 (nine remaining months) $ 1,067 2024 1,435 2025 1,441 2026 1,452 2027 1,454 Thereafter 32,346 Total lease payments 39,195 Less: Imputed interest 14,910 Total lease liability $ 24,285

Deposits

Deposits	3 Months Ended
	Mar. 31, 2023
Deposits [Abstract]
Deposits	Deposits Deposits are summarized as follows as of the periods indicated: (Dollars in thousands) March 31, 2023 December 31, 2022 Non-interest checking $ 1,247,253 $ 1,361,588 Interest-bearing checking 641,194 678,715 Savings 297,790 326,666 Money market 1,454,858 1,381,645 CDs $250,000 or less 222,116 187,758 CDs greater than $250,000 152,945 99,434 Deposits $ 4,016,156 $ 4,035,806 All of the Company's deposits outstanding at both March 31, 2023 and December 31, 2022 were customer deposits, and the Company had no brokered deposits at either March 31, 2023 or December 31, 2022. Customer deposits include reciprocal balances from checking, money market deposits and CDs received from participating banks in nationwide deposit networks due to our customers electing to participate in Company offered programs which allow for enhanced Federal Deposit Insurance Corporation ("FDIC") deposit insurance. Under this enhanced deposit insurance program, the equivalent of the customers' original deposited funds comes back to the Company and are carried within the appropriate category under deposits. The Company's balances in these reciprocal products were $721.1 million and $589.7 million at March 31, 2023 and December 31, 2022, respectively.

Borrowed Funds and Subordinated

Borrowed Funds and Subordinated Debt	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Borrowed Funds and Subordinated Debt	Borrowed Funds and Subordinated Debt The Company's borrowed funds amounted to $3.2 million at both March 31, 2023 and December 31, 2022 and were comprised of FHLB advances related to specific lending projects under the FHLB's community development and affordable housing programs as well as a small portion of borrowed funds from the New Hampshire Business Finance Authority borrowing under a New Hampshire community development program. Borrowed funds at March 31, 2023 and December 31, 2022 are summarized, as follows: March 31, 2023 December 31, 2022 (Dollars in thousands) Balance Rate Balance Rate Over 5 years $ 3,199 1.55 % $ 3,216 1.55 % Total borrowed funds $ 3,199 1.55 % $ 3,216 1.55 %

Derivatives and Hedging Activit

Derivatives and Hedging Activities	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities For further information on the Company's derivatives and hedging activities, see Note 9, "Derivatives and Hedging," to the Company's audited consolidated financial statements contained in the 2022 Annual Report on Form 10-K. The tables below present a summary of the Company's derivative financial instruments, notional amounts and fair values at the periods presented: March 31, 2023 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1) Liability Notional Amount Liability Derivatives (1) Derivatives not subject to hedge accounting Interest-rate contracts - pay floating, receive fixed $ — $ — $ 7,714 $ 624 Interest-rate contracts - pay fixed, receive floating 7,714 624 — — Risk participation agreements sold — — 46,907 98 Total back-to-back interest-rate swaps $ 7,714 $ 624 $ 54,621 $ 722 December 31, 2022 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1) Liability Notional Amount Liability Derivatives (1) Derivatives not subject to hedge accounting Interest-rate contracts - pay floating, receive fixed $ — $ — $ 7,777 $ 782 Interest-rate contracts - pay fixed, receive floating 7,777 782 — — Risk participation agreements sold — — 24,660 73 Total back-to-back interest-rate swaps $ 7,777 $ 782 $ 32,437 $ 855 __________________________________________ (1) Accrued interest balances related to the Company's interest-rate swaps are not included in the fair values above and are immaterial. The Company had no derivative fair value or cash flow hedges at either March 31, 2023 or December 31, 2022. Interest-rate Contracts Each back-to-back interest-rate swap consists of two interest-rate swaps (a customer swap and offsetting counterparty swap) and amounted to a total number of four interest-rate swaps outstanding at March 31, 2023 and December 31, 2022. As a result of this offsetting relationship, there were no net gains or losses recognized in income on back-to-back swaps during the three months ended March 31, 2023 or March 31, 2022. Interest-rate swaps with counterparties are subject to master netting agreements, while interest-rate swaps with customers are not. At March 31, 2023 and December 31, 2022, all back-to-back swaps with the counterparty were in asset positions, therefore there was no netting reflected in the Company's Consolidated Balance Sheets as of the respective dates. Risk Participation Agreements The Company enters into risk participation agreements ("RPA") for which the Company has assumed credit risk for customers' performance under interest-rate swap agreements related to the customers' commercial loan and receives fee income commensurate with the risk assumed. The RPA and the customers' loan are secured by the same collateral. Credit Risk The Company had one active interest-rate swap institutional counterparty that was rated A and A2 by Standard & Poor's and Moody's, respectively, at March 31, 2023. When the Company has credit risk exposure, collateral is posted by the counterparty. Collateral posted by counterparties is restricted and not considered an asset of the Company, therefore, it is not carried on the Company's Consolidated Balance Sheets. If the Company posts collateral, the restricted cash is carried on the Company's Consolidated Balance Sheets. At March 31, 2023, the Company had no credit risk exposure relating to interest-rate swaps with counterparties and posted no cash collateral. At December 31, 2022, the Company had credit risk exposure relating to interest-rate swaps with counterparties of $708 thousand and cash collateral posted by counterparties amounted to $20 thousand. Credit-risk-related Contingent Features There have been no material changes to the credit-risk-related contingent provisions contained within the Company's interest-rate swaps with counterparties since December 31, 2022. As of March 31, 2023, the fair value of derivatives related to these agreements was at a net liability position of $10 thousand, which excludes any adjustment for nonperformance risk. The Company has minimum collateral posting thresholds with certain of its derivative counterparties and as of March 31, 2023, has not posted collateral related to these agreements. Other Derivative Related Activity At both March 31, 2023 and December 31, 2022, the Company had one participation loan for which the originating bank utilizes a back-to-back interest-rate swap structure and the Company has assumed a contingent liability commensurate with its participation percentage in the loan. At March 31, 2023, management considers the risk of material swap loss exposure related to this participation loan to be unlikely based on the borrower's financial and collateral strength.

Regulatory Capital Requirements

Regulatory Capital Requirements	3 Months Ended
	Mar. 31, 2023
Compliance with Regulatory Capital Requirements under Banking Regulations [Abstract]
Regulatory Capital Requirements	Regulatory Capital Requirements As of March 31, 2023 and December 31, 2022, the Company met the definition of "well-capitalized" under the applicable regulations of the Board of Governors of the Federal Reserve System and the Bank qualified as "well-capitalized" under the prompt corrective action regulations of the FDIC and the Basel III capital guidelines. The Company's and the Bank's actual capital amounts and ratios are presented as of March 31, 2023 and December 31, 2022 in the tables below: Actual Minimum Capital for Capital Adequacy Purposes (1) Minimum Capital to be Well Capitalized (2) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of March 31, 2023 The Company Total Capital to risk-weighted assets ("RWA") $ 485,903 13.55 % $ 286,953 8.00 % N/A N/A Tier 1 Capital to RWA 381,621 10.64 % 215,215 6.00 % N/A N/A Tier 1 Capital to average assets ("AA") or Leverage Ratio 381,621 8.47 % 180,292 4.00 % N/A N/A Common Equity Tier 1 Capital to RWA 381,621 10.64 % 161,411 4.50 % N/A N/A The Bank Total Capital to RWA $ 486,014 13.55 % $ 286,953 8.00 % $ 358,692 10.00 % Tier 1 Capital to RWA 440,993 12.29 % 215,215 6.00 % 286,953 8.00 % Tier 1 Capital to AA, Leverage Ratio 440,993 9.78 % 180,292 4.00 % 225,365 5.00 % Common Equity Tier 1 Capital to RWA 440,993 12.29 % 161,411 4.50 % 233,150 6.50 % Actual Minimum Capital (1) Minimum Capital to be Well Capitalized (2) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022 The Company Total Capital to RWA $ 476,307 13.49 % $ 282,567 8.00 % N/A N/A Tier 1 Capital to RWA 372,817 10.56 % 211,926 6.00 % N/A N/A Tier 1 Capital to AA, Leverage Ratio 372,817 8.10 % 184,194 4.00 % N/A N/A Common Equity Tier 1 Capital to RWA 372,817 10.56 % 158,944 4.50 % N/A N/A The Bank Total Capital to RWA $ 475,668 13.47 % $ 282,567 8.00 % $ 353,209 10.00 % Tier 1 Capital to RWA 431,359 12.21 % 211,926 6.00 % 282,567 8.00 % Tier 1 Capital to AA, Leverage Ratio 431,359 9.37 % 184,194 4.00 % 230,243 5.00 % Common Equity Tier 1 Capital to RWA 431,359 12.21 % 158,944 4.50 % 229,586 6.50 % __________________________________________ (1) Before application of the capital conservation buffer of 2.50% as of March 31, 2023, and December 31, 2022. See discussion below. (2) For the Bank to qualify as "well-capitalized," it must maintain at least the minimum ratios listed under the regulatory prompt corrective action framework. This framework does not apply to the Company.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Comprehensive Income (Loss)	Comprehensive Income (Loss) The following table presents a reconciliation of the changes in the components of other comprehensive income (loss) for the dates indicated, including the amount of income tax (expense) benefit allocated to each component of other comprehensive income (loss): Three months ended March 31, 2023 Three months ended March 31, 2022 (Dollars in thousands) Pre-Tax Tax Benefit (Expense) After Tax Amount Pre-Tax Tax Benefit (Expense) After Tax Amount Change in fair value of debt securities $ 26,160 $ (5,912) $ 20,248 $ (56,974) $ 12,840 $ (44,134) Less: net security gains reclassified into non-interest income — — — 1,062 (234) 828 Net change in fair value of debt securities 26,160 (5,912) 20,248 (58,036) 13,074 (44,962) Total other comprehensive income (loss), net $ 26,160 $ (5,912) $ 20,248 $ (58,036) $ 13,074 $ (44,962) Information on the Company's accumulated other comprehensive income (loss), net of tax, is comprised of the following components as of the periods indicated: Three months ended March 31, 2023 Three months ended March 31, 2022 (Dollars in thousands) Unrealized Gains (Losses) on Debt Securities Total Unrealized Gains (Losses) on Debt Securities Total Accumulated other comprehensive (loss) income - beginning balance $ (96,207) $ (96,207) $ 4,662 $ 4,662 Total other comprehensive loss, net 20,248 20,248 (44,962) (44,962) Accumulated other comprehensive loss - ending balance $ (75,959) $ (75,959) $ (40,300) $ (40,300)

Stock-Based Compensation

Stock-Based Compensation	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation There have been no material changes to The Enterprise Bancorp, Inc. 2016 Stock Incentive Plan (the "2016 Plan") since December 31, 2022. As of March 31, 2023, 376,429 shares of Company common stock remained available for future grants under the 2016 Plan. Total stock-based compensation expense was $522 thousand for the three months ended March 31, 2023, compared to $478 thousand for the three months ended March 31, 2022. Stock Option Awards The Company issued no stock options during the three months ended March 31, 2023. The table below provides a summary of the options granted, including the weighted average fair value, the fair value as a percentage of the market value of the stock at the date of grant and the average assumptions used in the model for the prior period: Three months ended March 31, 2022 Options granted 16,797 Term in years 10 Weighted average assumptions used in the fair value model: Expected volatility 44 % Expected dividend yield 3.05 % Expected life in years 6.5 Risk-free interest-rate 2.19 % Weighted average market price on date of grants $ 38.58 Per share weighted average fair value $ 14.40 Fair value as a percentage of market value at grant date 37 % Options granted during the first three months of 2022 generally vest 50% in year two and 50% in year four, on or about the anniversary date of the awards. The Company utilizes the Black-Scholes option valuation model to determine the per share grant date fair value of stock option grants. The Company recognized stock-based compensation expense related to stock option awards of $50 thousand for the three months ended March 31, 2023, compared to $48 thousand for the three months ended March 31, 2022. Restricted Stock Awards Restricted stock awards are granted at the market price of the Company's common stock on the date of the grant. Employee restricted stock awards generally vest over four years in equal portions beginning on or about the first anniversary date of the restricted stock award or are performance-based restricted stock awards that vest upon the Company achieving certain predefined performance objectives. Non-employee director restricted stock awards generally vest over two years in equal portions beginning on or about the first anniversary date of the restricted stock award. The table below provides a summary of restricted stock awards granted during the periods indicated: Three months ended March 31, Restricted Stock Awards (number of underlying shares) 2023 2022 Two-year vesting — 8,823 Four-year vesting 32,719 21,554 Performance-based vesting 31,270 22,254 Total restricted stock awards granted 63,989 52,631 Weighted average grant date fair value $ 32.32 $ 38.58 Stock-based compensation expense recognized in association with stock awards, mainly restricted stock awards, amounted to $407 thousand for the three months ended March 31, 2023, compared to $360 thousand for the three months ended March 31, 2022. Stock in Lieu of Directors' Fees Non-employee members of the Company's Board of Directors (the "Board") may opt to receive newly issued shares of the Company's common stock in lieu of cash compensation for attendance at meetings of the Board and committees of the Board. Stock-based compensation expense related to these directors' fees amounted to $65 thousand for the three months ended March 31, 2023, compared to $70 thousand for the three months ended March 31, 2022.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings per Share The table below presents basic earnings per share and the increase in average shares outstanding, using the treasury stock method, for the diluted earnings per share calculation for the periods indicated: Three months ended March 31, 2023 2022 Basic weighted average common shares outstanding 12,155,320 12,055,991 Dilutive shares 38,436 63,845 Diluted weighted average common shares outstanding 12,193,756 12,119,836 There were 34,164 and 34,210 stock options outstanding for the three months ended March 31, 2023 and March 31, 2022, respectively, that were determined to be anti-dilutive and therefore excluded from the calculation of dilutive shares for those periods. These stock options, which were not dilutive, may potentially dilute earnings per share in the future. Unvested participating restricted awards amounted to 135,216 shares and 106,658 shares as of March 31, 2023 and December 31, 2022, respectively.

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The FASB defines the fair value of an asset or liability to be the price which a seller would receive in an orderly transaction between market participants (an exit price) and also establishes a fair value hierarchy segregating fair value measurements using three levels of inputs: (Level 1) quoted market prices in active markets for identical assets or liabilities; (Level 2) significant other observable inputs, including quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs such as interest rates and yield curves, volatilities, prepayment speeds, credit risks and default rates which provide a reasonable basis for fair value determination or inputs derived principally from observed market data; and (Level 3) significant unobservable inputs for situations in which there is little, if any, market activity for the asset or liability. Unobservable inputs must reflect reasonable assumptions that market participants would use in pricing the asset or liability, which are developed based on the best information available under the circumstances. The following tables summarize significant assets and liabilities carried at fair value and placement in the fair value hierarchy at the dates specified: March 31, 2023 Fair Value Measurements Using: (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) Assets measured on a recurring basis: Debt securities $ 825,520 $ — $ 825,520 $ — Equity securities — — — — FHLB stock 2,343 — 2,343 — Interest-rate swaps 624 — 624 — Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) 954 — — 954 Liabilities measured on a recurring basis: Interest-rate swaps $ 624 $ — $ 624 $ — RPA sold 98 — 98 — December 31, 2022 Fair Value Measurements Using: (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) Assets measured on a recurring basis: Debt securities $ 816,102 $ — $ 816,102 $ — Equity securities 4,269 4,269 — — FHLB stock 2,343 — 2,343 — Interest-rate swaps 782 — 782 — Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) 740 — — 740 Liabilities measured on a recurring basis: Interest-rate swaps $ 782 $ — $ 782 $ — RPA sold 73 — 73 — The Company utilizes third-party pricing vendors to provide valuations on its debt securities. The Company's equity portfolio fair value is measured based on quoted market prices for the shares; therefore, these securities are categorized as Level 1 within the fair value hierarchy. The Bank is required to purchase FHLB stock at par value in association with advances from the FHLB. The stock is issued, redeemed, repurchased and transferred by the FHLB only at their fixed par value. This stock is classified as a restricted investment and carried at FHLB par value which management believes approximates fair value; therefore, these securities are categorized as Level 2 measures. The fair values of derivative assets and liabilities, which are comprised of back-to-back swaps and risk participation agreements, represent a FASB Level 2 measurement and are based on settlement values adjusted for credit risks and observable market interest-rate curves. Refer also to Note 8, "Derivatives and Hedging Activities," this Form 10-Q, contained above, for additional information on the Company's interest-rate swaps. For loans individually assessed and deemed to be collateral dependent management has estimated the value and the probable credit loss by comparing the loan's amortized cost against the expected realizable fair value of the collateral (appraised value, or internal analysis, less estimated cost to sell, adjusted as necessary for changes in relevant valuation factors subsequent to the measurement date). Certain inputs used in these assessments, and possible subsequent adjustments, are not always observable, and therefore, collateral dependent loans carried at realizable fair value are categorized as Level 3 within the fair value hierarchy. A specific reserve is assigned to the collateral dependent loan for the amount of management's estimated probable credit loss. The specific reserve assigned to individually evaluated loans that are collateral dependent amounted to $371 thousand at March 31, 2023, compared to $298 thousand at December 31, 2022. The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company utilized Level 3 inputs (significant unobservable inputs for situations in which there is little, if any, market activity for the asset or liability) to determine fair value as of March 31, 2023 and December 31, 2022: Fair Value (Dollars in thousands) March 31, 2023 December 31, 2022 Valuation Technique Unobservable Input Unobservable Input Value or Range Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) $ 954 $ 740 Appraisal of collateral Appraisal adjustments (1) 15% - 50% __________________________________________ (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. Estimated Fair Values of Assets and Liabilities In addition to disclosures regarding the measurement of assets and liabilities carried at fair value on the Company's Consolidated Balance Sheets, the Company is also required to disclose fair value information about financial instruments for which it is practicable to estimate that value, whether or not recognized on the Company's Consolidated Balance Sheets. Financial instruments for which the fair value is disclosed but not recognized on the Company's Consolidated Balance Sheets are summarized below. The table includes the carrying value, estimated fair value and its placement in the fair value hierarchy as follows: March 31, 2023 Fair Value Measurement (Dollars in thousands) Carrying Fair Value Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial assets: Loans held for sale $ 362 $ 358 $ — $ 358 $ — Loans, net 3,175,154 3,017,247 — — 3,017,247 Financial liabilities: CDs 375,061 370,316 — 370,316 — Borrowed funds 3,199 2,191 — 2,191 — Subordinated debt 59,261 55,671 — 55,671 — December 31, 2022 Fair Value Measurement (Dollars in thousands) Carrying Fair Value Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial assets: Loans, net $ 3,127,878 $ 2,952,778 $ — $ — $ 2,952,778 Financial liabilities: CDs 287,192 281,800 — 281,800 — Borrowed funds 3,216 2,006 — 2,006 — Subordinated debt 59,182 55,407 — 55,407 — Excluded from the tables above are certain financial instruments with carrying values that approximated their fair value at the dates indicated, as they were short-term in nature or payable on demand. These include cash and cash equivalents, accrued interest and non-term deposit accounts. The respective carrying values of these instruments would all be classified within Level 1 in the fair value hierarchy.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The supplemental cash flow information for the three months ended March 31, 2023 and March 31, 2022 is as follows: Three months ended March 31, (Dollars in thousands) 2023 2022 Supplemental financial data: Cash paid for: interest $ 6,931 $ 2,222 Cash paid for: income taxes 4,455 5,060 Cash paid for: lease liability 340 331 Supplemental schedule of non-cash activity: Net purchases of investment securities not yet settled — 1,500

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
Accounting Policies [Abstract]
Organization of the Company and Basis of Presentation	Organization of the Company and Basis of Presentation The accompanying unaudited consolidated interim financial statements and these notes should be read in conjunction with the December 31, 2022 audited consolidated financial statements and notes thereto contained in the Annual Report on Form 10-K of Enterprise Bancorp, Inc. (the "Company," "Enterprise," "we," or "our") for the year ended December 31, 2022 (the "2022 Annual Report on Form 10-K") as filed with the Securities and Exchange Commission (the "SEC") on March 8, 2023. The Company has not materially changed its significant accounting policies from those disclosed in its 2022 Annual Report on Form 10-K. See Item (d), " Recent Accounting Pronouncements ," below in this Note 1. The accompanying unaudited consolidated interim financial statements of the Company include the accounts of the Company and its wholly owned subsidiary, Enterprise Bank and Trust Company, commonly referred to as Enterprise Bank (the "Bank"). The Bank is a Massachusetts trust company and state chartered commercial bank organized in 1989. Substantially all of the Company's operations are conducted through the Bank and its subsidiaries.
Organization of the Company and Basis of Presentation - Basis of Accounting	The accompanying unaudited consolidated interim financial statements, and notes thereto, in this Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2023 (this "Form 10-Q"), have been prepared in accordance with U.S. generally accepted accounting principles ("GAAP") for interim financial information and the SEC instructions for Quarterly Reports on Form 10-Q. In the opinion of management, the accompanying unaudited consolidated interim financial statements reflect all necessary adjustments, consisting of normal recurring accruals and elimination of intercompany balances, for a fair presentation.
Organization of the Company and Basis of Presentation - Reclassifications	Interim results are not necessarily indicative of results to be expected for the entire year, or any future period.
Uses of Estimates	Uses of Estimates In preparing the unaudited consolidated interim financial statements in conformity with GAAP, management is required to exercise judgment in determining many of the methodologies, assumptions and estimates to be utilized. These assumptions and estimates affect the reported values of assets and liabilities as of the balance sheet dates and income and expenses for the period then ended. As future events and their effects cannot be determined with precision, actual results could differ significantly from these estimates should the assumptions and estimates used be incorrect or change over time due to changes in circumstances. Changes in those estimates resulting from continuing changes in the economic environment and other factors will be reflected in the consolidated financial statements and results of operations in future periods. As discussed in the Company's 2022 Annual Report on Form 10-K, the most significant areas in which management applies critical assumptions and estimates are: the estimates of the allowance for credit losses ("ACL") for loans, available for sale securities and reserve for unfunded commitments, and the impairment review of goodwill. Refer to Note 1, "Summary of Significant Accounting Policies," to the Company's audited consolidated financial statements included in the Company's 2022 Annual Report on Form 10-K for accounting policies related to these significant estimates.
Unconsolidated Variable Interest Entity / Proportional Accounting	Unconsolidated Variable Interest Entity / Proportional Accounting In March 2023, the Bank made an equity contribution to the NMTC Investment Fund a newly formed Limited Liability Company in order to invest in NMTC, a program, which is administered by the U.S. Department of the Treasury's Community Development Financial Institutions Fund and allocated to Community Development Entities ("CDE"). The NMTC program provides federal tax incentives for investments in distressed communities and promotes economic improvements through the development of successful businesses in these communities. The NMTCs are available to investors
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting pronouncements adopted by the Company In March 2023, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") 2023-02, "Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method." ASU 2023-02 permits reporting entities to elect to account for their tax equity investments, regardless of the tax credit program from which the income tax credits are received, using the proportional amortization method if certain conditions are met. The election can be made for each individual qualifying tax credit investment. Under the proportional amortization method, the initial cost of an investment is amortized in proportion to the amount of tax credits and other tax benefits received, with the amortization and tax credits recognized as a component of income tax expense. To qualify for the proportional amortization method, all of the following conditions must be met: (1) It is probable that the income tax credits allocated to the tax equity investor will be available; (2) The tax equity investor does not have the ability to exercise significant influence over the operating and financial policies of the underlying project; (3) Substantially all of the projected benefits are from income tax credits and other income tax benefits; (4) The tax equity investor's projected yield based solely on the cash flows from the income tax credits and other income tax benefits is positive; and (5) The tax equity investor is a limited liability investor in the limited liability entity for both legal and tax purposes, and the tax equity investor's liability is limited to its capital investment. Under the proportional amortization method, the investment shall be tested for impairment when events or changes in circumstances indicate that it is more likely than not that the carrying amount of the investment will not be realized. An impairment loss shall be measured as the amount by which the carrying amount of an investment exceeds its fair value. A previously recognized impairment loss shall not be reversed. ASU 2023-02 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2023. The Company has elected to early adopt ASU 2022-01 effective on January 1, 2023, applying the new guidance to a new investment in NMTC made in the first quarter of 2023, and the adoption did not have a significant impact on the financial statements. In March 2022, the FASB issued ASU 2022-01, "Derivatives and Hedging (Topic 815): Fair Value Hedging—Portfolio Layer Method." This ASU clarifies the guidance on fair value hedge accounting of interest rate risk for portfolios of financial assets. The ASU amends the guidance in ASU 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities," that, among other things, established the "last-of-layer" method for making the fair value hedge accounting for these portfolios more accessible. ASU 2022-01 renames that method the "portfolio layer" method and addresses feedback from stakeholders regarding its application. The Company adopted ASU 2022-01 effective on January 1, 2023 and the adoption did not have a significant impact on the financial statements. In March 2022, the FASB issued ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures." This ASU eliminates the accounting guidance for troubled debt restructurings by creditors that have adopted the current expected credit loss ("CECL") methodology for estimating allowances for credit losses and enhances the disclosure requirements for loan restructurings made with borrowers experiencing financial difficulty. In addition, the amendments require a public business entity to disclose current-period gross charge-offs for financing receivables and net investment in leases by year of origination in the vintage disclosures. The Company adopted ASU 2022-02 effective on January 1, 2023, prospectively, and the adoption did not have a significant impact on the financial statements.
Subsequent Events	Subsequent Events The Company has evaluated subsequent events and transactions from March 31, 2023 through the date this Form 10-Q was filed with the SEC for potential recognition or disclosure as required by GAAP and determined there were no material subsequent events requiring recognition or disclosure.

Investment Securities (Tables)

Investment Securities (Tables)	3 Months Ended
	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Debt Securities, Available-for-Sale Investments Reconciliation	The amortized cost and fair values of debt securities at the dates specified are summarized as follows: March 31, 2023 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Federal agency obligations $ 5,012 $ 1 $ — $ 5,013 U.S. treasury securities 45,955 — 2,045 43,910 Federal agency collateralized mortgage obligations ("CMO") 461,436 203 54,796 406,843 Federal agency mortgage-backed securities ("MBS") 23,892 64 2,776 21,180 Taxable municipal securities 287,421 36 37,173 250,284 Tax-exempt municipal securities 82,182 246 485 81,943 Corporate bonds 5,636 — 109 5,527 Subordinated corporate bonds 11,951 — 1,131 10,820 Total debt securities, at fair value $ 923,485 $ 550 $ 98,515 $ 825,520 December 31, 2022 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Federal agency obligations $ 5,014 $ — $ 37 $ 4,977 U.S. treasury securities 45,942 — 2,691 43,251 Federal agency CMO 474,777 3 67,798 406,982 Federal agency MBS 24,172 27 3,178 21,021 Taxable municipal securities 287,435 29 48,187 239,277 Tax-exempt municipal securities 84,457 66 870 83,653 Corporate bonds 6,480 — 186 6,294 Subordinated corporate bonds 11,950 — 1,303 10,647 Total debt securities, at fair value $ 940,227 $ 125 $ 124,250 $ 816,102
Schedule of Unrealized Loss on Debt Securities, Available-for-Sale Investments	The following tables summarize the duration of unrealized losses for debt securities at March 31, 2023 and December 31, 2022: March 31, 2023 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized # of Holdings U.S. treasury securities $ — $ — $ 43,910 $ 2,045 $ 43,910 $ 2,045 6 Federal agency CMO 46,380 844 335,270 53,952 381,650 54,796 98 Federal agency MBS — — 19,217 2,776 19,217 2,776 11 Taxable municipal securities 20,486 729 226,761 36,444 247,247 37,173 272 Tax-exempt municipal securities 31,239 155 9,801 330 41,040 485 80 Corporate bonds 4,857 82 670 27 5,527 109 25 Subordinated corporate bonds 1,886 66 8,935 1,065 10,821 1,131 6 Total $ 104,848 $ 1,876 $ 644,564 $ 96,639 $ 749,412 $ 98,515 498 December 31, 2022 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized # of Holdings Federal agency obligations $ 4,977 $ 37 $ — $ — $ 4,977 $ 37 1 U.S. treasury securities 2,878 109 40,374 2,582 43,252 2,691 6 Federal agency CMO 164,391 13,004 233,051 54,794 397,442 67,798 102 Federal agency MBS 9,923 797 9,165 2,381 19,088 3,178 11 Taxable municipal securities 93,345 10,411 144,903 37,776 238,248 48,187 273 Tax-exempt municipal securities 66,277 870 — — 66,277 870 112 Corporate bonds 6,294 186 — — 6,294 186 31 Subordinated corporate bonds 6,206 743 4,440 560 10,646 1,303 6 Total $ 354,291 $ 26,157 $ 431,933 $ 98,093 $ 786,224 $ 124,250 542
Debt Securities, Available-for-Sale Investments Classified by Contractual Maturity Date	The contractual maturity distribution at March 31, 2023 of debt securities was as follows: (Dollars in thousands) Amortized Cost Fair Value Due in one year or less $ 43,577 $ 42,648 Due after one, but within five years 137,025 133,624 Due after five, but within ten years 304,972 267,490 Due after ten years 437,911 381,758 Total debt securities $ 923,485 $ 825,520
Schedule of Realized Gain (Loss) on Sales of Debt Securities, Available-for-Sale Investments	Sales of debt securities for the three months ended March 31, 2023 and March 31, 2022 are summarized as follows: Three months ended March 31, (Dollars in thousands) 2023 2022 Amortized cost of debt securities sold (1) $ — $ 31,653 Gross realized gains on sales — 1,062 Gross realized losses on sales — — Total proceeds from sales of debt securities $ — $ 32,715 _________________________________________ (1) Amortized cost of investments sold is determined on a specific identification basis and includes pending trades based on trade date, if applicable.
Gain (Loss) on Equity Securities	Gains and losses on equity securities for the three months ended March 31, 2023 and March 31, 2022 are summarized as follows: Three months ended March 31, (Dollars in thousands) 2023 2022 Net losses recognized during the period on equity securities $ (16) $ (67) Less: Net gains recognized on equity securities sold during the period — — Unrealized losses recognized during the reporting period on equity securities still held at the end of the period $ (16) $ (67)

Loans (Tables)

Loans (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Schedule of Loans by Loan Classification	Major classifications of loans and their amortized cost as of the dates indicated were as follows: (Dollars in thousands) March 31, December 31, Commercial real estate $ 1,929,544 $ 1,921,410 Commercial and industrial 423,864 414,490 Commercial construction 456,735 424,049 Total commercial loans 2,810,143 2,759,949 Residential mortgages 335,834 332,632 Home equity loans and lines 75,809 79,807 Consumer 8,370 8,130 Total retail loans 420,013 420,569 Total loans 3,230,156 3,180,518 ACL for loans (55,002) (52,640) Net loans $ 3,175,154 $ 3,127,878
Schedule of Loans Pledged as Collateral	Loans designated as qualified collateral and pledged to the FHLB for borrowing capacity as of the dates indicated are summarized below: (Dollars in thousands) March 31, December 31, Commercial real estate $ 393,513 $ 113,830 Residential mortgages 314,595 309,023 Home equity 33,971 39,724 Total loans pledged to FHLB $ 742,079 $ 462,577

ACL for Loans (Tables)

ACL for Loans (Tables)	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
Financing Receivable Credit Quality Indicators	The following tables present the amortized cost basis of the Company's loan portfolio risk ratings within portfolio classifications, by origination date, or revolving status as of the dates indicated: Balance at March 31, 2023 Term Loans by Origination Year (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Total Commercial real estate Pass $ 32,192 $ 389,368 $ 375,042 $ 200,608 $ 220,511 $ 677,333 $ 1,315 $ — $ 1,896,369 Special mention — — — — 503 19,068 — — 19,571 Substandard — — 280 — 1,014 12,310 — — 13,604 Total commercial real estate 32,192 389,368 375,322 200,608 222,028 708,711 1,315 — 1,929,544 Current period charge-offs — — — — — — — — — Commercial and industrial Pass 18,135 62,802 53,038 31,245 27,351 53,141 170,851 976 417,539 Special mention — — — — — 282 2,192 925 3,399 Substandard — — 19 — 7 602 2,298 — 2,926 Total commercial and industrial 18,135 62,802 53,057 31,245 27,358 54,025 175,341 1,901 423,864 Current period charge-offs 5 6 — — — 72 — — 83 Commercial construction Pass 22,313 162,026 182,219 33,775 23,818 7,533 21,053 — 452,737 Special mention — — — — 3,998 — — — 3,998 Total commercial construction 22,313 162,026 182,219 33,775 27,816 7,533 21,053 — 456,735 Current period charge-offs — — — — — — — — — Residential mortgages Pass 6,516 113,213 72,701 48,817 19,705 72,358 — — 333,310 Special mention — — — — — 113 — — 113 Substandard — — — — 1,055 1,356 — — 2,411 Total residential mortgages 6,516 113,213 72,701 48,817 20,760 73,827 — — 335,834 Current period charge-offs — — — — — — — — — Home equity Pass — 421 588 453 338 2,152 71,443 46 75,441 Substandard — — 273 — — 95 — — 368 Total home equity — 421 861 453 338 2,247 71,443 46 75,809 Current period charge-offs — — — — — — — — — Consumer Pass 652 3,257 1,705 977 933 846 — — 8,370 Total consumer 652 3,257 1,705 977 933 846 — — 8,370 Current period charge-offs 1 5 — — — — — — 6 Total loans $ 79,808 $ 731,087 $ 685,865 $ 315,875 $ 299,233 $ 847,189 $ 269,152 $ 1,947 $ 3,230,156 Total current period charge-offs $ 6 $ 11 $ — $ — $ — $ 72 $ — $ — $ 89 Balance at December 31, 2022 Term Loans by Origination Year (Dollars in thousands) 2021 2020 2019 2018 2017 Prior Revolving Loans Revolving Loans Converted to Term Total Commercial real estate Pass $ 391,515 $ 381,771 $ 204,125 $ 218,664 $ 114,175 $ 577,354 $ 1,347 $ 200 $ 1,889,151 Special mention — — — 507 2,041 16,248 — — 18,796 Substandard — 289 — 1,160 1,404 10,610 — — 13,463 Total commercial real estate 391,515 382,060 204,125 220,331 117,620 604,212 1,347 200 1,921,410 Commercial and industrial Pass 59,824 53,059 33,027 29,293 13,364 43,724 171,670 3,235 407,196 Special mention — — — 11 66 278 3,132 — 3,487 Substandard — 19 — 8 138 325 2,964 353 3,807 Total commercial and industrial 59,824 53,078 33,027 29,312 13,568 44,327 177,766 3,588 414,490 Commercial construction Pass 151,107 169,549 35,651 31,189 7,729 3,379 19,778 1,473 419,855 Special mention — — — 3,900 — — — — 3,900 Substandard — 294 — — — — — — 294 Total commercial construction 151,107 169,843 35,651 35,089 7,729 3,379 19,778 1,473 424,049 Residential mortgages Pass 112,804 73,955 49,549 20,140 18,799 54,620 — — 329,867 Special mention — — — — — 325 — — 325 Substandard — — — 1,060 — 1,380 — — 2,440 Total residential mortgages 112,804 73,955 49,549 21,200 18,799 56,325 — — 332,632 Home equity Pass 328 596 456 345 — 1,220 75,324 1,054 79,323 Substandard — 273 — — — 211 — — 484 Total home equity 328 869 456 345 — 1,431 75,324 1,054 79,807 Consumer Pass 3,144 1,852 1,063 1,045 606 420 — — 8,130 Total consumer 3,144 1,852 1,063 1,045 606 420 — — 8,130 Total loans $ 718,722 $ 681,657 $ 323,871 $ 307,322 $ 158,322 $ 710,094 $ 274,215 $ 6,315 $ 3,180,518
Past Due Financing Receivables	The following tables present an age analysis of past due loans by portfolio classification as of the dates indicated: Balance at March 31, 2023 (Dollars in thousands) 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Due Loans (1) Current Loans (1) Total Commercial real estate $ 2,589 $ 384 $ 2,091 $ 5,064 $ 1,924,480 $ 1,929,544 Commercial and industrial 206 601 78 885 422,979 423,864 Commercial construction — — — — 456,735 456,735 Residential mortgages 431 1,055 — 1,486 334,348 335,834 Home equity 119 — 73 192 75,617 75,809 Consumer 14 45 — 59 8,311 8,370 Total loans $ 3,359 $ 2,085 $ 2,242 $ 7,686 $ 3,222,470 $ 3,230,156 Balance at December 31, 2022 (Dollars in thousands) 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Due Loans (1) Current Loans (1) Total Commercial real estate $ 2,818 $ 1,268 $ 1,631 $ 5,717 $ 1,915,693 $ 1,921,410 Commercial and industrial 786 39 217 1,042 413,448 414,490 Commercial construction 412 — 294 706 423,343 424,049 Residential mortgages 1,119 55 149 1,323 331,309 332,632 Home equity 163 — 73 236 79,571 79,807 Consumer 21 — — 21 8,109 8,130 Total loans $ 5,319 $ 1,362 $ 2,364 $ 9,045 $ 3,171,473 $ 3,180,518 _______________________________________ (1) The loan balances in the tables above include loans designated as non-accrual according to their payment due status.
Financing Receivable, Nonaccrual	The following tables present the amortized cost of non-accrual loans by portfolio classification as of the dates indicated: Balance at March 31, 2023 (Dollars in thousands) Total Non-accrual Loans Non-accrual Loans without a Specific Reserve Non-accrual Loans with a Specific Reserve Related Specific Commercial real estate $ 4,926 $ 3,912 $ 1,014 $ 274 Commercial and industrial 673 325 348 309 Commercial construction — — — — Residential mortgages 1,565 1,565 — — Home equity 368 95 273 85 Consumer — — — — Total loans $ 7,532 $ 5,897 $ 1,635 $ 668 Balance at December 31, 2022 (Dollars in thousands) Total Non-accrual Loans Non-accrual Loans without a Specific Reserve Non-accrual Loans with a Specific Reserve Related Specific Commercial real estate $ 3,355 $ 2,317 $ 1,038 $ 298 Commercial and industrial 730 348 382 382 Commercial construction 294 294 — — Residential mortgages 1,532 1,532 — — Home equity 211 211 — — Consumer — — — — Total loans $ 6,122 $ 4,702 $ 1,420 $ 680
Impaired Financing Receivables	The following tables present the recorded investment in collateral dependent loans and the related specific allowance by portfolio allocation as of the dates indicated: Balance at March 31, 2023 (Dollars in thousands) Unpaid Total Recorded Recorded Recorded Related Specific Commercial real estate $ 22,783 $ 20,163 $ 19,149 $ 1,014 $ 274 Commercial and industrial 2,867 562 524 38 12 Commercial construction — — — — — Residential mortgages 1,873 1,678 1,678 — — Home equity 435 368 95 273 85 Consumer — — — — — Total $ 27,958 $ 22,771 $ 21,446 $ 1,325 $ 371 Balance at December 31, 2022 (Dollars in thousands) Unpaid Total Recorded Recorded Recorded Related Specific Commercial real estate $ 24,530 $ 21,916 $ 20,878 $ 1,038 $ 298 Commercial and industrial 3,210 863 863 — — Commercial construction 294 294 294 — — Residential mortgages 2,096 1,914 1,914 — — Home equity 386 211 211 — — Consumer — — — — — Total $ 30,516 $ 25,198 $ 24,160 $ 1,038 $ 298
Troubled Debt Restructurings on Financing Receivables	The following table presents the amortized cost basis of loan modifications made to borrowers experiencing financial difficulty by type of concession granted during the period indicated: Three months ended March 31, 2023 (Dollars in thousands) Payment Deferrals % of Loan Class Total Commercial real estate $ 281 0.01 % Commercial and industrial 38 0.01 % Total $ 319 0.01 % The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the period indicated: Three months ended March 31, 2023 Weighted-Average Payment Deferrals Commercial real estate 0.5 years Commercial and industrial 0.5 years Balance at March 31, 2023 (Dollars in thousands) Current 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Commercial real estate $ 406 $ — $ — $ 1,014 $ 1,014 Commercial and industrial 237 — — — — Commercial construction — — — — — Residential mortgages — — — — — Home equity — — — — — Consumer — — — — — Total $ 643 $ — $ — $ 1,014 $ 1,014 The following table presents the number and balance of loans modified as TDRs, by portfolio classification, during the period indicated: Three months ended March 31, 2022 (Dollars in thousands) Number of Pre-modification Post-modification Commercial real estate 2 $ 1,718 $ 1,699 Total 2 $ 1,718 $ 1,699 Three months ended March 31, 2022 (Dollars in thousands) Number of TDRs that Defaulted Post-modification Outstanding Commercial and industrial 1 $ 48 Total 1 $ 48 The following table sets forth the post modification balances of TDRs listed by type of modification for TDRs that occurred during the three-month period indicated: Three months ended March 31, 2022 (Dollars in thousands) Number of Amount Temporary payment reduction and payment re-amortization of remaining principal over extended term 1 $ 1,404 Temporary interest only payment plan 1 295 Total 2 $ 1,699 Amount of ACL for loans associated with TDRs listed above $ —
Change in Provisions for Credit Losses	The following table presents changes in the provision for credit losses on loans and unfunded commitments during the three-month periods indicated: Three months ended (Dollars in thousands) March 31, March 31, Provision for credit losses on loans $ 2,318 $ 825 Provision for unfunded commitments 418 (295) Total provision for credit losses $ 2,736 $ 530
Allowance for Credit Losses on Financing Receivables	The following tables present changes in the ACL for loans by portfolio classification, during the three months indicated: (Dollars in thousands) Commercial Real Commercial and Commercial Construction Residential Home Consumer Total Beginning Balance at December 31, 2022 $ 36,564 $ 8,896 $ 3,961 $ 2,255 $ 633 $ 331 $ 52,640 Provision for credit losses on loans 1,161 438 492 123 76 28 2,318 Recoveries — 127 — — 3 3 133 Less: Charge-offs — 83 — — — 6 89 Ending Balance at March 31, 2023 $ 37,725 $ 9,378 $ 4,453 $ 2,378 $ 712 $ 356 $ 55,002 (Dollars in thousands) Commercial Real Commercial and Commercial Construction Residential Home Consumer Total Beginning Balance at December 31, 2021 $ 31,847 $ 9,574 $ 4,090 $ 1,405 $ 465 $ 323 $ 47,704 Provision for credit losses on loans 2,089 (543) (572) (83) (15) (51) 825 Recoveries — 24 — — 4 5 33 Less: Charge-offs — 105 — — — 33 138 Ending Balance at March 31, 2022 $ 33,936 $ 8,950 $ 3,518 $ 1,322 $ 454 $ 244 $ 48,424

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2023
Leases [Abstract]
Operating Lease Liability Maturity Table as Lessee	At March 31, 2023, the remaining undiscounted cash flows by year of these lease liabilities were as follows: (Dollars in thousands) Operating Leases 2023 (nine remaining months) $ 1,067 2024 1,435 2025 1,441 2026 1,452 2027 1,454 Thereafter 32,346 Total lease payments 39,195 Less: Imputed interest 14,910 Total lease liability $ 24,285

Deposits (Tables)

Deposits (Tables)	3 Months Ended
	Mar. 31, 2023
Banking and Thrift, Interest [Abstract]
Schedule of Deposit Liabilities	Deposits are summarized as follows as of the periods indicated: (Dollars in thousands) March 31, 2023 December 31, 2022 Non-interest checking $ 1,247,253 $ 1,361,588 Interest-bearing checking 641,194 678,715 Savings 297,790 326,666 Money market 1,454,858 1,381,645 CDs $250,000 or less 222,116 187,758 CDs greater than $250,000 152,945 99,434 Deposits $ 4,016,156 $ 4,035,806

Borrowed Funds (Tables)

Borrowed Funds (Tables)	3 Months Ended
	Mar. 31, 2023
Debt Disclosure [Abstract]
Schedule of Borrowed Funds Maturity	Borrowed funds at March 31, 2023 and December 31, 2022 are summarized, as follows: March 31, 2023 December 31, 2022 (Dollars in thousands) Balance Rate Balance Rate Over 5 years $ 3,199 1.55 % $ 3,216 1.55 % Total borrowed funds $ 3,199 1.55 % $ 3,216 1.55 %

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	3 Months Ended
	Mar. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivatives, Fair Value and Classification	The tables below present a summary of the Company's derivative financial instruments, notional amounts and fair values at the periods presented: March 31, 2023 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1) Liability Notional Amount Liability Derivatives (1) Derivatives not subject to hedge accounting Interest-rate contracts - pay floating, receive fixed $ — $ — $ 7,714 $ 624 Interest-rate contracts - pay fixed, receive floating 7,714 624 — — Risk participation agreements sold — — 46,907 98 Total back-to-back interest-rate swaps $ 7,714 $ 624 $ 54,621 $ 722 December 31, 2022 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1) Liability Notional Amount Liability Derivatives (1) Derivatives not subject to hedge accounting Interest-rate contracts - pay floating, receive fixed $ — $ — $ 7,777 $ 782 Interest-rate contracts - pay fixed, receive floating 7,777 782 — — Risk participation agreements sold — — 24,660 73 Total back-to-back interest-rate swaps $ 7,777 $ 782 $ 32,437 $ 855 __________________________________________

Regulatory Capital Requiremen_2

Regulatory Capital Requirements (Tables)	3 Months Ended
	Mar. 31, 2023
Compliance with Regulatory Capital Requirements under Banking Regulations [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The Company's and the Bank's actual capital amounts and ratios are presented as of March 31, 2023 and December 31, 2022 in the tables below: Actual Minimum Capital for Capital Adequacy Purposes (1) Minimum Capital to be Well Capitalized (2) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of March 31, 2023 The Company Total Capital to risk-weighted assets ("RWA") $ 485,903 13.55 % $ 286,953 8.00 % N/A N/A Tier 1 Capital to RWA 381,621 10.64 % 215,215 6.00 % N/A N/A Tier 1 Capital to average assets ("AA") or Leverage Ratio 381,621 8.47 % 180,292 4.00 % N/A N/A Common Equity Tier 1 Capital to RWA 381,621 10.64 % 161,411 4.50 % N/A N/A The Bank Total Capital to RWA $ 486,014 13.55 % $ 286,953 8.00 % $ 358,692 10.00 % Tier 1 Capital to RWA 440,993 12.29 % 215,215 6.00 % 286,953 8.00 % Tier 1 Capital to AA, Leverage Ratio 440,993 9.78 % 180,292 4.00 % 225,365 5.00 % Common Equity Tier 1 Capital to RWA 440,993 12.29 % 161,411 4.50 % 233,150 6.50 % Actual Minimum Capital (1) Minimum Capital to be Well Capitalized (2) (Dollars in thousands) Amount Ratio Amount Ratio Amount Ratio As of December 31, 2022 The Company Total Capital to RWA $ 476,307 13.49 % $ 282,567 8.00 % N/A N/A Tier 1 Capital to RWA 372,817 10.56 % 211,926 6.00 % N/A N/A Tier 1 Capital to AA, Leverage Ratio 372,817 8.10 % 184,194 4.00 % N/A N/A Common Equity Tier 1 Capital to RWA 372,817 10.56 % 158,944 4.50 % N/A N/A The Bank Total Capital to RWA $ 475,668 13.47 % $ 282,567 8.00 % $ 353,209 10.00 % Tier 1 Capital to RWA 431,359 12.21 % 211,926 6.00 % 282,567 8.00 % Tier 1 Capital to AA, Leverage Ratio 431,359 9.37 % 184,194 4.00 % 230,243 5.00 % Common Equity Tier 1 Capital to RWA 431,359 12.21 % 158,944 4.50 % 229,586 6.50 % __________________________________________ (1) Before application of the capital conservation buffer of 2.50% as of March 31, 2023, and December 31, 2022. See discussion below. (2) For the Bank to qualify as "well-capitalized," it must maintain at least the minimum ratios listed under the regulatory prompt corrective action framework. This framework does not apply to the Company.

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	3 Months Ended
	Mar. 31, 2023
Equity [Abstract]
Schedule of Comprehensive Income (Loss) Reconciliation of Changes	The following table presents a reconciliation of the changes in the components of other comprehensive income (loss) for the dates indicated, including the amount of income tax (expense) benefit allocated to each component of other comprehensive income (loss): Three months ended March 31, 2023 Three months ended March 31, 2022 (Dollars in thousands) Pre-Tax Tax Benefit (Expense) After Tax Amount Pre-Tax Tax Benefit (Expense) After Tax Amount Change in fair value of debt securities $ 26,160 $ (5,912) $ 20,248 $ (56,974) $ 12,840 $ (44,134) Less: net security gains reclassified into non-interest income — — — 1,062 (234) 828 Net change in fair value of debt securities 26,160 (5,912) 20,248 (58,036) 13,074 (44,962) Total other comprehensive income (loss), net $ 26,160 $ (5,912) $ 20,248 $ (58,036) $ 13,074 $ (44,962)
Schedule of Accumulated Other Comprehensive Income (Loss)	Information on the Company's accumulated other comprehensive income (loss), net of tax, is comprised of the following components as of the periods indicated: Three months ended March 31, 2023 Three months ended March 31, 2022 (Dollars in thousands) Unrealized Gains (Losses) on Debt Securities Total Unrealized Gains (Losses) on Debt Securities Total Accumulated other comprehensive (loss) income - beginning balance $ (96,207) $ (96,207) $ 4,662 $ 4,662 Total other comprehensive loss, net 20,248 20,248 (44,962) (44,962) Accumulated other comprehensive loss - ending balance $ (75,959) $ (75,959) $ (40,300) $ (40,300)

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	3 Months Ended
	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions	The table below provides a summary of the options granted, including the weighted average fair value, the fair value as a percentage of the market value of the stock at the date of grant and the average assumptions used in the model for the prior period: Three months ended March 31, 2022 Options granted 16,797 Term in years 10 Weighted average assumptions used in the fair value model: Expected volatility 44 % Expected dividend yield 3.05 % Expected life in years 6.5 Risk-free interest-rate 2.19 % Weighted average market price on date of grants $ 38.58 Per share weighted average fair value $ 14.40 Fair value as a percentage of market value at grant date 37 %
Schedule of Restricted Stock Awards Granted	The table below provides a summary of restricted stock awards granted during the periods indicated: Three months ended March 31, Restricted Stock Awards (number of underlying shares) 2023 2022 Two-year vesting — 8,823 Four-year vesting 32,719 21,554 Performance-based vesting 31,270 22,254 Total restricted stock awards granted 63,989 52,631 Weighted average grant date fair value $ 32.32 $ 38.58

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2023
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The table below presents basic earnings per share and the increase in average shares outstanding, using the treasury stock method, for the diluted earnings per share calculation for the periods indicated: Three months ended March 31, 2023 2022 Basic weighted average common shares outstanding 12,155,320 12,055,991 Dilutive shares 38,436 63,845 Diluted weighted average common shares outstanding 12,193,756 12,119,836

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring and Nonrecurring Basis	The following tables summarize significant assets and liabilities carried at fair value and placement in the fair value hierarchy at the dates specified: March 31, 2023 Fair Value Measurements Using: (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) Assets measured on a recurring basis: Debt securities $ 825,520 $ — $ 825,520 $ — Equity securities — — — — FHLB stock 2,343 — 2,343 — Interest-rate swaps 624 — 624 — Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) 954 — — 954 Liabilities measured on a recurring basis: Interest-rate swaps $ 624 $ — $ 624 $ — RPA sold 98 — 98 — December 31, 2022 Fair Value Measurements Using: (Dollars in thousands) Fair Value (Level 1) (Level 2) (Level 3) Assets measured on a recurring basis: Debt securities $ 816,102 $ — $ 816,102 $ — Equity securities 4,269 4,269 — — FHLB stock 2,343 — 2,343 — Interest-rate swaps 782 — 782 — Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) 740 — — 740 Liabilities measured on a recurring basis: Interest-rate swaps $ 782 $ — $ 782 $ — RPA sold 73 — 73 —
Quantitative Information About Significant Unobservable Inputs for Fair Value Measurements	The following table presents additional quantitative information about assets measured at fair value on a non-recurring basis for which the Company utilized Level 3 inputs (significant unobservable inputs for situations in which there is little, if any, market activity for the asset or liability) to determine fair value as of March 31, 2023 and December 31, 2022: Fair Value (Dollars in thousands) March 31, 2023 December 31, 2022 Valuation Technique Unobservable Input Unobservable Input Value or Range Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) $ 954 $ 740 Appraisal of collateral Appraisal adjustments (1) 15% - 50% __________________________________________ (1) Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses.
Fair Value, by Balance Sheet Grouping	Financial instruments for which the fair value is disclosed but not recognized on the Company's Consolidated Balance Sheets are summarized below. The table includes the carrying value, estimated fair value and its placement in the fair value hierarchy as follows: March 31, 2023 Fair Value Measurement (Dollars in thousands) Carrying Fair Value Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial assets: Loans held for sale $ 362 $ 358 $ — $ 358 $ — Loans, net 3,175,154 3,017,247 — — 3,017,247 Financial liabilities: CDs 375,061 370,316 — 370,316 — Borrowed funds 3,199 2,191 — 2,191 — Subordinated debt 59,261 55,671 — 55,671 — December 31, 2022 Fair Value Measurement (Dollars in thousands) Carrying Fair Value Level 1 Inputs Level 2 Inputs Level 3 Inputs Financial assets: Loans, net $ 3,127,878 $ 2,952,778 $ — $ — $ 2,952,778 Financial liabilities: CDs 287,192 281,800 — 281,800 — Borrowed funds 3,216 2,006 — 2,006 — Subordinated debt 59,182 55,407 — 55,407 —

Supplemental Cash Flow (Tables)

Supplemental Cash Flow (Tables)	3 Months Ended
	Mar. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The supplemental cash flow information for the three months ended March 31, 2023 and March 31, 2022 is as follows: Three months ended March 31, (Dollars in thousands) 2023 2022 Supplemental financial data: Cash paid for: interest $ 6,931 $ 2,222 Cash paid for: income taxes 4,455 5,060 Cash paid for: lease liability 340 331 Supplemental schedule of non-cash activity: Net purchases of investment securities not yet settled — 1,500

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) segment
Tax Credit Carryforward [Line Items]
Reportable operating segments | segment	1
Federal tax credits, first three years, percent	5%
Federal tax credits, next four years, percent	6%
Consolidated Entity, Excluding Consolidated VIE
Tax Credit Carryforward [Line Items]
Available to investmment	7 years
Amortization	$ 44
Investment tax credit	153
Consolidated Entity, Excluding Consolidated VIE | NMTC Investment Fund
Tax Credit Carryforward [Line Items]
Noncontrolling Interest in Variable Interest Entity	3,700
Federal tax credits	$ 4,800

Investment Securities - Investm

Investment Securities - Investments Reconciliation (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 923,485	$ 940,227
Unrealized Gains	550	125
Unrealized Losses	98,515	124,250
Fair Value	825,520	816,102
Federal agency obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,012	5,014
Unrealized Gains	1	0
Unrealized Losses	0	37
Fair Value	5,013	4,977
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	45,955	45,942
Unrealized Gains	0	0
Unrealized Losses	2,045	2,691
Fair Value	43,910	43,251
Federal agency CMO
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	461,436	474,777
Unrealized Gains	203	3
Unrealized Losses	54,796	67,798
Fair Value	406,843	406,982
Federal agency MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	23,892	24,172
Unrealized Gains	64	27
Unrealized Losses	2,776	3,178
Fair Value	21,180	21,021
Taxable municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	287,421	287,435
Unrealized Gains	36	29
Unrealized Losses	37,173	48,187
Fair Value	250,284	239,277
Tax-exempt municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	82,182	84,457
Unrealized Gains	246	66
Unrealized Losses	485	870
Fair Value	81,943	83,653
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,636	6,480
Unrealized Gains	0	0
Unrealized Losses	109	186
Fair Value	5,527	6,294
Subordinated corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	11,951	11,950
Unrealized Gains	0	0
Unrealized Losses	1,131	1,303
Fair Value	$ 10,820	$ 10,647

Investment Securities - Narrati

Investment Securities - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Accrued interest related to AFS debt securities	$ 4,800		$ 4,000
Callable debt securities, fair value	162,100
Sale of debt securities	0	$ 32,715
Equity securities at fair value	5,375		4,269
Collateral Pledged
Debt Securities, Available-for-sale [Line Items]
Debt securities, pledged as collateral	$ 814,700		$ 804,200

Investment Securities - Debt Se

Investment Securities - Debt Securities Continuous Loss Position (Details) $ in Thousands	Mar. 31, 2023 USD ($) investment	Dec. 31, 2022 USD ($) investment
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 104,848	$ 354,291
Temporarily impaired debt securities, less than 12 months, unrealized losses	1,876	26,157
Temporarily impaired debt securities, 12 months or longer, fair value	644,564	431,933
Temporarily impaired debt securities, 12 months or longer, unrealized losses	96,639	98,093
Temporarily impaired debt securities, fair value	749,412	786,224
Temporarily impaired debt securities, unrealized losses	$ 98,515	$ 124,250
Number of holdings | investment	498	542
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 0	$ 2,878
Temporarily impaired debt securities, less than 12 months, unrealized losses	0	109
Temporarily impaired debt securities, 12 months or longer, fair value	43,910	40,374
Temporarily impaired debt securities, 12 months or longer, unrealized losses	2,045	2,582
Temporarily impaired debt securities, fair value	43,910	43,252
Temporarily impaired debt securities, unrealized losses	$ 2,045	$ 2,691
Number of holdings | investment	6	6
Federal agency obligations
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value		$ 4,977
Temporarily impaired debt securities, less than 12 months, unrealized losses		37
Temporarily impaired debt securities, 12 months or longer, fair value		0
Temporarily impaired debt securities, 12 months or longer, unrealized losses		0
Temporarily impaired debt securities, fair value		4,977
Temporarily impaired debt securities, unrealized losses		$ 37
Number of holdings | investment		1
Federal agency CMO
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 46,380	$ 164,391
Temporarily impaired debt securities, less than 12 months, unrealized losses	844	13,004
Temporarily impaired debt securities, 12 months or longer, fair value	335,270	233,051
Temporarily impaired debt securities, 12 months or longer, unrealized losses	53,952	54,794
Temporarily impaired debt securities, fair value	381,650	397,442
Temporarily impaired debt securities, unrealized losses	$ 54,796	$ 67,798
Number of holdings | investment	98	102
Federal agency MBS
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 0	$ 9,923
Temporarily impaired debt securities, less than 12 months, unrealized losses	0	797
Temporarily impaired debt securities, 12 months or longer, fair value	19,217	9,165
Temporarily impaired debt securities, 12 months or longer, unrealized losses	2,776	2,381
Temporarily impaired debt securities, fair value	19,217	19,088
Temporarily impaired debt securities, unrealized losses	$ 2,776	$ 3,178
Number of holdings | investment	11	11
Taxable municipal securities
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 20,486	$ 93,345
Temporarily impaired debt securities, less than 12 months, unrealized losses	729	10,411
Temporarily impaired debt securities, 12 months or longer, fair value	226,761	144,903
Temporarily impaired debt securities, 12 months or longer, unrealized losses	36,444	37,776
Temporarily impaired debt securities, fair value	247,247	238,248
Temporarily impaired debt securities, unrealized losses	$ 37,173	$ 48,187
Number of holdings | investment	272	273
Tax-exempt municipal securities
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 31,239	$ 66,277
Temporarily impaired debt securities, less than 12 months, unrealized losses	155	870
Temporarily impaired debt securities, 12 months or longer, fair value	9,801	0
Temporarily impaired debt securities, 12 months or longer, unrealized losses	330	0
Temporarily impaired debt securities, fair value	41,040	66,277
Temporarily impaired debt securities, unrealized losses	$ 485	$ 870
Number of holdings | investment	80	112
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 4,857	$ 6,294
Temporarily impaired debt securities, less than 12 months, unrealized losses	82	186
Temporarily impaired debt securities, 12 months or longer, fair value	670	0
Temporarily impaired debt securities, 12 months or longer, unrealized losses	27	0
Temporarily impaired debt securities, fair value	5,527	6,294
Temporarily impaired debt securities, unrealized losses	$ 109	$ 186
Number of holdings | investment	25	31
Subordinated corporate bonds
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 1,886	$ 6,206
Temporarily impaired debt securities, less than 12 months, unrealized losses	66	743
Temporarily impaired debt securities, 12 months or longer, fair value	8,935	4,440
Temporarily impaired debt securities, 12 months or longer, unrealized losses	1,065	560
Temporarily impaired debt securities, fair value	10,821	10,646
Temporarily impaired debt securities, unrealized losses	$ 1,131	$ 1,303
Number of holdings | investment	6	6

Investment Securities - Debt _2

Investment Securities - Debt Securities Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 43,577
Due after one, but within five years	137,025
Due after five, but within ten years	304,972
Due after ten years	437,911
Amortized Cost	923,485	$ 940,227
Fair Value
Due in one year or less	42,648
Due after one, but within five years	133,624
Due after five, but within ten years	267,490
Due after ten years	381,758
Fair Value	$ 825,520	$ 816,102

Investment Securities - Debt _3

Investment Securities - Debt Securities Sales (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Amortized cost of debt securities sold	$ 0	$ 31,653
Gross realized gains on sales	0	1,062
Gross realized losses on sales	0	0
Total proceeds from sales of debt securities	$ 0	$ 32,715

Investment Securities - Equity

Investment Securities - Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Investments, Debt and Equity Securities [Abstract]
Net losses recognized during the period on equity securities	$ (16)	$ (67)
Less: Net gains recognized on equity securities sold during the period	0	0
Unrealized losses recognized during the reporting period on equity securities still held at the end of the period	$ (16)	$ (67)

Loans - Balance by Class of Loa

Loans - Balance by Class of Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Loan Portfolio Classifications, Adoption of CECL
Total loans	$ 3,230,156	$ 3,180,518
ACL for loans	(55,002)	(52,640)
Net loans	3,175,154	3,127,878
Commercial
Loan Portfolio Classifications, Adoption of CECL
Total loans	2,810,143	2,759,949
Commercial real estate
Loan Portfolio Classifications, Adoption of CECL
Total loans	1,929,544	1,921,410
Commercial and industrial
Loan Portfolio Classifications, Adoption of CECL
Total loans	423,864	414,490
Commercial construction
Loan Portfolio Classifications, Adoption of CECL
Total loans	456,735	424,049
Retail
Loan Portfolio Classifications, Adoption of CECL
Total loans	420,013	420,569
Residential mortgages
Loan Portfolio Classifications, Adoption of CECL
Total loans	335,834	332,632
Home equity loans and lines
Loan Portfolio Classifications, Adoption of CECL
Total loans	75,809	79,807
Consumer
Loan Portfolio Classifications, Adoption of CECL
Total loans	$ 8,370	$ 8,130

Loans - Loan Categories Narrati

Loans - Loan Categories Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Schedule of Loans by Loan Classification [Line Items]
Loan origination fees	$ 5.1	$ 5.2
Accrued interest receivable on loans	13.7	13.1
Commercial
Schedule of Loans by Loan Classification [Line Items]
Participation loans amount	101.7	94.8
Participations loans sold that are still serviced amount	58.3	59.1
Residential mortgages
Schedule of Loans by Loan Classification [Line Items]
Amount of loans serviced for others	$ 8.7	$ 8.9

Loans - Loans Serving as Collat

Loans - Loans Serving as Collateral (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	$ 3,230,156	$ 3,180,518
Asset Pledged as Collateral without Right | Federal Home Loan Bank Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	742,079	462,577
Commercial real estate
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	1,929,544	1,921,410
Commercial real estate | Asset Pledged as Collateral without Right | Federal Home Loan Bank Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	393,513	113,830
Residential mortgages
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	335,834	332,632
Residential mortgages | Asset Pledged as Collateral without Right | Federal Home Loan Bank Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	314,595	309,023
Home equity
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	75,809	79,807
Home equity | Asset Pledged as Collateral without Right | Federal Home Loan Bank Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	$ 33,971	$ 39,724

ACL for Loans - Credit Risk Ind

ACL for Loans - Credit Risk Indicators (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	$ 79,808	$ 718,722
Year two	731,087	681,657
Year three	685,865	323,871
Year four	315,875	307,322
Year five	299,233	158,322
Prior	847,189	710,094
Revolving Loans	269,152	274,215
Revolving Loans Converted to Term	1,947	6,315
Total loans	3,230,156	3,180,518
Current period charge-offs
Year one	6
Year two	11
Year three	0
Year four	0
Year five	0
Prior	72
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	89
Commercial real estate
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	32,192	391,515
Year two	389,368	382,060
Year three	375,322	204,125
Year four	200,608	220,331
Year five	222,028	117,620
Prior	708,711	604,212
Revolving Loans	1,315	1,347
Revolving Loans Converted to Term	0	200
Total loans	1,929,544	1,921,410
Current period charge-offs
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	0
Commercial real estate | Pass
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	32,192	391,515
Year two	389,368	381,771
Year three	375,042	204,125
Year four	200,608	218,664
Year five	220,511	114,175
Prior	677,333	577,354
Revolving Loans	1,315	1,347
Revolving Loans Converted to Term	0	200
Total loans	1,896,369	1,889,151
Commercial real estate | Special mention
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	507
Year five	503	2,041
Prior	19,068	16,248
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	19,571	18,796
Commercial real estate | Substandard
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	289
Year three	280	0
Year four	0	1,160
Year five	1,014	1,404
Prior	12,310	10,610
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	13,604	13,463
Commercial and industrial
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	18,135	59,824
Year two	62,802	53,078
Year three	53,057	33,027
Year four	31,245	29,312
Year five	27,358	13,568
Prior	54,025	44,327
Revolving Loans	175,341	177,766
Revolving Loans Converted to Term	1,901	3,588
Total loans	423,864	414,490
Current period charge-offs
Year one	5
Year two	6
Year three	0
Year four	0
Year five	0
Prior	72
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	83
Commercial and industrial | Pass
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	18,135	59,824
Year two	62,802	53,059
Year three	53,038	33,027
Year four	31,245	29,293
Year five	27,351	13,364
Prior	53,141	43,724
Revolving Loans	170,851	171,670
Revolving Loans Converted to Term	976	3,235
Total loans	417,539	407,196
Commercial and industrial | Special mention
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	11
Year five	0	66
Prior	282	278
Revolving Loans	2,192	3,132
Revolving Loans Converted to Term	925	0
Total loans	3,399	3,487
Commercial and industrial | Substandard
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	19
Year three	19	0
Year four	0	8
Year five	7	138
Prior	602	325
Revolving Loans	2,298	2,964
Revolving Loans Converted to Term	0	353
Total loans	2,926	3,807
Commercial construction
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	22,313	151,107
Year two	162,026	169,843
Year three	182,219	35,651
Year four	33,775	35,089
Year five	27,816	7,729
Prior	7,533	3,379
Revolving Loans	21,053	19,778
Revolving Loans Converted to Term	0	1,473
Total loans	456,735	424,049
Current period charge-offs
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	0
Commercial construction | Pass
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	22,313	151,107
Year two	162,026	169,549
Year three	182,219	35,651
Year four	33,775	31,189
Year five	23,818	7,729
Prior	7,533	3,379
Revolving Loans	21,053	19,778
Revolving Loans Converted to Term	0	1,473
Total loans	452,737	419,855
Commercial construction | Special mention
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	3,900
Year five	3,998	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	3,998	3,900
Commercial construction | Substandard
Financing Receivable, Credit Quality Indicators [Line Items]
Year one		0
Year two		294
Year three		0
Year four		0
Year five		0
Prior		0
Revolving Loans		0
Revolving Loans Converted to Term		0
Total loans		294
Residential mortgages
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	6,516	112,804
Year two	113,213	73,955
Year three	72,701	49,549
Year four	48,817	21,200
Year five	20,760	18,799
Prior	73,827	56,325
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	335,834	332,632
Current period charge-offs
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	0
Residential mortgages | Pass
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	6,516	112,804
Year two	113,213	73,955
Year three	72,701	49,549
Year four	48,817	20,140
Year five	19,705	18,799
Prior	72,358	54,620
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	333,310	329,867
Residential mortgages | Special mention
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	113	325
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	113	325
Residential mortgages | Substandard
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	1,060
Year five	1,055	0
Prior	1,356	1,380
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	2,411	2,440
Home equity loans and lines
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	328
Year two	421	869
Year three	861	456
Year four	453	345
Year five	338	0
Prior	2,247	1,431
Revolving Loans	71,443	75,324
Revolving Loans Converted to Term	46	1,054
Total loans	75,809	79,807
Current period charge-offs
Year one	0
Year two	0
Year three	0
Year four	0
Year five	0
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	0
Home equity loans and lines | Pass
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	328
Year two	421	596
Year three	588	456
Year four	453	345
Year five	338	0
Prior	2,152	1,220
Revolving Loans	71,443	75,324
Revolving Loans Converted to Term	46	1,054
Total loans	75,441	79,323
Home equity loans and lines | Substandard
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	0	0
Year two	0	273
Year three	273	0
Year four	0	0
Year five	0	0
Prior	95	211
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	368	484
Consumer
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	652	3,144
Year two	3,257	1,852
Year three	1,705	1,063
Year four	977	1,045
Year five	933	606
Prior	846	420
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	8,370	8,130
Current period charge-offs
Year one	1
Year two	5
Year three	0
Year four	0
Year five	0
Prior	0
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	6
Consumer | Pass
Financing Receivable, Credit Quality Indicators [Line Items]
Year one	652	3,144
Year two	3,257	1,852
Year three	1,705	1,063
Year four	977	1,045
Year five	933	606
Prior	846	420
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	$ 8,370	$ 8,130

ACL for Loans - Narrative (Deta

ACL for Loans - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	$ 3,230,156,000		$ 3,180,518,000
Adversely classified loans to all loans, ratio	1.44%		1.48%
The ratio of non-accrual loans to total loans	0.23%		0.19%
Total accruing impaired loans	$ 15,600,000		$ 19,500,000
Total non accruing impaired loans	7,200,000		5,700,000
Post- modification Outstanding Recorded Investment	0	$ 48,000
Post-modification outstanding, subsequent charge-offs		$ 0
Allowance for credit losses	$ 55,002,000		$ 52,640,000
Allowance for credit losses to total loans ratio	1.70%		1.66%
Criticized
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	$ 46,400,000		$ 47,000,000
Unfunded Loan Commitment
Financing Receivable, Allowance for Credit Losses [Line Items]
Allowance for credit losses	4,700,000		4,300,000
Collateral Pledged
Financing Receivable, Allowance for Credit Losses [Line Items]
Total loans	$ 22,800,000		$ 25,200,000

ACL for Loans - Past Due and No

ACL for Loans - Past Due and Non-Accrual Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Schedule of Aging of Financing Receivables
Total loans	$ 3,230,156	$ 3,180,518
Total Non-accrual Loans	7,532	6,122
Non-accrual Loans without a Specific Reserve	5,897	4,702
Non-accrual Loans with a Specific Reserve	1,635	1,420
Related Specific Reserve	668	680
Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	7,686	9,045
30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	3,359	5,319
60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	2,085	1,362
Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	2,242	2,364
Current Loans
Schedule of Aging of Financing Receivables
Total loans	3,222,470	3,171,473
Commercial real estate
Schedule of Aging of Financing Receivables
Total loans	1,929,544	1,921,410
Total Non-accrual Loans	4,926	3,355
Non-accrual Loans without a Specific Reserve	3,912	2,317
Non-accrual Loans with a Specific Reserve	1,014	1,038
Related Specific Reserve	274	298
Commercial real estate | Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	5,064	5,717
Commercial real estate | 30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	2,589	2,818
Commercial real estate | 60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	384	1,268
Commercial real estate | Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	2,091	1,631
Commercial real estate | Current Loans
Schedule of Aging of Financing Receivables
Total loans	1,924,480	1,915,693
Commercial and industrial
Schedule of Aging of Financing Receivables
Total loans	423,864	414,490
Total Non-accrual Loans	673	730
Non-accrual Loans without a Specific Reserve	325	348
Non-accrual Loans with a Specific Reserve	348	382
Related Specific Reserve	309	382
Commercial and industrial | Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	885	1,042
Commercial and industrial | 30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	206	786
Commercial and industrial | 60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	601	39
Commercial and industrial | Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	78	217
Commercial and industrial | Current Loans
Schedule of Aging of Financing Receivables
Total loans	422,979	413,448
Commercial construction
Schedule of Aging of Financing Receivables
Total loans	456,735	424,049
Total Non-accrual Loans	0	294
Non-accrual Loans without a Specific Reserve	0	294
Non-accrual Loans with a Specific Reserve	0	0
Related Specific Reserve	0	0
Commercial construction | Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	0	706
Commercial construction | 30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	0	412
Commercial construction | 60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	0	0
Commercial construction | Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	0	294
Commercial construction | Current Loans
Schedule of Aging of Financing Receivables
Total loans	456,735	423,343
Residential mortgages
Schedule of Aging of Financing Receivables
Total loans	335,834	332,632
Total Non-accrual Loans	1,565	1,532
Non-accrual Loans without a Specific Reserve	1,565	1,532
Non-accrual Loans with a Specific Reserve	0	0
Related Specific Reserve	0	0
Residential mortgages | Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	1,486	1,323
Residential mortgages | 30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	431	1,119
Residential mortgages | 60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	1,055	55
Residential mortgages | Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	0	149
Residential mortgages | Current Loans
Schedule of Aging of Financing Receivables
Total loans	334,348	331,309
Home equity loans and lines
Schedule of Aging of Financing Receivables
Total loans	75,809	79,807
Total Non-accrual Loans	368	211
Non-accrual Loans without a Specific Reserve	95	211
Non-accrual Loans with a Specific Reserve	273	0
Related Specific Reserve	85	0
Home equity loans and lines | Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	192	236
Home equity loans and lines | 30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	119	163
Home equity loans and lines | 60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	0	0
Home equity loans and lines | Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	73	73
Home equity loans and lines | Current Loans
Schedule of Aging of Financing Receivables
Total loans	75,617	79,571
Consumer
Schedule of Aging of Financing Receivables
Total loans	8,370	8,130
Total Non-accrual Loans	0	0
Non-accrual Loans without a Specific Reserve	0	0
Non-accrual Loans with a Specific Reserve	0	0
Related Specific Reserve	0	0
Consumer | Total Past Due Loans
Schedule of Aging of Financing Receivables
Total loans	59	21
Consumer | 30-59 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	14	21
Consumer | 60-89 Days Past Due
Schedule of Aging of Financing Receivables
Total loans	45	0
Consumer | Past Due 90 Days or More
Schedule of Aging of Financing Receivables
Total loans	0	0
Consumer | Current Loans
Schedule of Aging of Financing Receivables
Total loans	$ 8,311	$ 8,109

ACL for Loans - Impaired Loans

ACL for Loans - Impaired Loans (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	$ 27,958	$ 30,516
Total Recorded Investment in Collateral Dependent Loans	22,771	25,198
Recorded Investment without a Specific Reserve	21,446	24,160
Recorded Investment with a Specific Reserve	1,325	1,038
Related Specific Reserve	371	298
Commercial real estate
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	22,783	24,530
Total Recorded Investment in Collateral Dependent Loans	20,163	21,916
Recorded Investment without a Specific Reserve	19,149	20,878
Recorded Investment with a Specific Reserve	1,014	1,038
Related Specific Reserve	274	298
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	2,867	3,210
Total Recorded Investment in Collateral Dependent Loans	562	863
Recorded Investment without a Specific Reserve	524	863
Recorded Investment with a Specific Reserve	38	0
Related Specific Reserve	12	0
Commercial construction
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	0	294
Total Recorded Investment in Collateral Dependent Loans	0	294
Recorded Investment without a Specific Reserve	0	294
Recorded Investment with a Specific Reserve	0	0
Related Specific Reserve	0	0
Residential mortgages
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	1,873	2,096
Total Recorded Investment in Collateral Dependent Loans	1,678	1,914
Recorded Investment without a Specific Reserve	1,678	1,914
Recorded Investment with a Specific Reserve	0	0
Related Specific Reserve	0	0
Home equity loans and lines
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	435	386
Total Recorded Investment in Collateral Dependent Loans	368	211
Recorded Investment without a Specific Reserve	95	211
Recorded Investment with a Specific Reserve	273	0
Related Specific Reserve	85	0
Consumer
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	0	0
Total Recorded Investment in Collateral Dependent Loans	0	0
Recorded Investment without a Specific Reserve	0	0
Recorded Investment with a Specific Reserve	0	0
Related Specific Reserve	$ 0	$ 0

ACL for Loans - Loan Modificati

ACL for Loans - Loan Modifications (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($)
Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 1,014
30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	1,014
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	643
Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 319
% of Loan Class Total	0.01%
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Payment Deferrals	6 months
Commercial real estate | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 1,014
Commercial real estate | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial real estate | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial real estate | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	1,014
Commercial real estate | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	406
Commercial real estate | Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 281
% of Loan Class Total	0.01%
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted-Average Payment Deferrals	6 months
Commercial and industrial | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 0
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial and industrial | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial and industrial | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	237
Commercial and industrial | Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 38
% of Loan Class Total	0.01%
Commercial construction | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 0
Commercial construction | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial construction | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial construction | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Commercial construction | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Residential mortgages | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Residential mortgages | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Residential mortgages | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Residential mortgages | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Residential mortgages | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Home equity loans and lines | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Home equity loans and lines | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Home equity loans and lines | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Home equity loans and lines | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Home equity loans and lines | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Consumer | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Consumer | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Consumer | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Consumer | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	0
Consumer | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Interest Rate Reductions	$ 0

ACL for Loans - Troubled Debt R

ACL for Loans - Troubled Debt Restructures and Prior Period Trouble Debt Restructures (Details)	3 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 USD ($) restructuring	Mar. 31, 2022 USD ($) loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings			2	2
Pre-modification Outstanding Recorded Investment		$ 1,718,000
Post-modification Outstanding Recorded Investment		1,699,000
Number of TDRs that Defaulted | loan				1
Post- modification Outstanding Recorded Investment	$ 0	48,000
Amount of ACL for loans associated with TDRs listed above		0	$ 0	$ 0
Temporary payment reduction and payment re-amortization of remaining principal over extended term
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan				1
Post-modification Outstanding Recorded Investment		1,404,000
Temporary interest only payment plan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan				1
Post-modification Outstanding Recorded Investment		295,000
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | restructuring			2
Pre-modification Outstanding Recorded Investment		1,718,000
Post-modification Outstanding Recorded Investment		1,699,000
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of TDRs that Defaulted | loan				1
Post- modification Outstanding Recorded Investment		$ 48,000

ACL for Loans - Change In Provi

ACL for Loans - Change In Provisions For Credits Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for credit losses	$ 2,736	$ 530
Provision for credit losses on loans
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for credit losses	2,318	825
Provision for unfunded commitments
Financing Receivable, Allowance for Credit Losses [Line Items]
Provision for credit losses	$ 418	$ (295)

ACL for Loans - ACL Activity (D

ACL for Loans - ACL Activity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	$ 52,640
Provision for credit losses on loans	2,736	$ 530
Allowance for credit losses, ending balance	55,002
Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	52,640	47,704
Provision for credit losses on loans	2,318	825
Recoveries	133	33
Less: Charge-offs	89	138
Allowance for credit losses, ending balance	55,002	48,424
Commercial real estate | Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	36,564	31,847
Provision for credit losses on loans	1,161	2,089
Recoveries	0	0
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	37,725	33,936
Commercial and industrial | Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	8,896	9,574
Provision for credit losses on loans	438	(543)
Recoveries	127	24
Less: Charge-offs	83	105
Allowance for credit losses, ending balance	9,378	8,950
Commercial construction | Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	3,961	4,090
Provision for credit losses on loans	492	(572)
Recoveries	0	0
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	4,453	3,518
Residential mortgages | Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	2,255	1,405
Provision for credit losses on loans	123	(83)
Recoveries	0	0
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	2,378	1,322
Home equity loans and lines | Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	633	465
Provision for credit losses on loans	76	(15)
Recoveries	3	4
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	712	454
Consumer | Loans Excluding Unfunded Commitments
Financing Receivable, Excluding Accrued Interest, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, beginning balance	331	323
Provision for credit losses on loans	28	(51)
Recoveries	3	5
Less: Charge-offs	6	33
Allowance for credit losses, ending balance	$ 356	$ 244

ACL for Loans - Other Real Esta

ACL for Loans - Other Real Estate Owned (Details)	Mar. 31, 2023 loan property	Dec. 31, 2022 loan property
Receivables [Abstract]
OREO, Number of properties owned | property	0	0
Number of consumer mortgage loans in process of foreclosure | loan	0	0

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2023 USD ($) lease	Mar. 31, 2022 USD ($)
Leases [Abstract]
Number of operating leases | lease	16
Operating lease expense | $	$ 404	$ 416
Weighted average remaining lease term on operating leases	29 years 2 months 12 days	30 years 1 month 6 days
Weighted average discount rate for operating leases	3.51%	3.45%

Leases - Leases Maturities (Det

Leases - Leases Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
2023 (nine remaining months)	$ 1,067
2024	1,435
2025	1,441
2026	1,452
2027	1,454
Thereafter	32,346
Total lease payments	39,195
Less: Imputed interest	14,910
Total lease liability	$ 24,285	$ 24,415

Deposits (Details)

Deposits (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Banking and Thrift, Interest [Abstract]
Non-interest checking	$ 1,247,253	$ 1,361,588
Interest-bearing checking	641,194	678,715
Savings	297,790	326,666
Money market	1,454,858	1,381,645
CDs $250,000 or less	222,116	187,758
CDs greater than $250,000	152,945	99,434
Deposits	4,016,156	4,035,806
Reciprocal deposits	$ 721,100	$ 589,700

Borrowed Funds and Subordinat_2

Borrowed Funds and Subordinated Debt - Narrative (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
Borrowed funds	$ 3,199	$ 3,216
Subordinated debt	$ 59,261	$ 59,182

Borrowed Funds and Subordinat_3

Borrowed Funds and Subordinated Debt - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Balance
Over 5 years	$ 3,199	$ 3,216
Total borrowed funds	$ 3,199	$ 3,216
Rate
Over 5 years	1.55%	1.55%
Total borrowed funds	1.55%	1.55%

Derivative Instruments and Hedg

Derivative Instruments and Hedging Activities - Fair Value Classification (Details) - Interest-rate swaps - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset Notional Amount	$ 7,714	$ 7,777
Asset Derivatives	624	782
Liability Notional Amount	54,621	32,437
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	722	855
Pay Floating, Receive Fixed
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset Notional Amount	0	0
Asset Derivatives	0	0
Liability Notional Amount	7,714	7,777
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	624	782
Pay Fixed, Receive Floating
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset Notional Amount	7,714	7,777
Asset Derivatives	624	782
Liability Notional Amount	0	0
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	0	0
Risk Participation Agreements Sold
Derivative Instruments and Hedging Activities Disclosures [Line Items]
Asset Notional Amount	0	0
Asset Derivatives	0	0
Liability Notional Amount	46,907	24,660
Net Amounts of Liabilities Presented in the Consolidated Balance Sheet	$ 98	$ 73

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Narrative (Details)	3 Months Ended		12 Months Ended
	Mar. 31, 2023 USD ($) loan derivativeInstrument counterparty	Mar. 31, 2022 USD ($)	Dec. 31, 2022 USD ($) loan derivativeInstrument
Derivative [Line Items]
Number of counterparties | counterparty	1
Fair value of swaps in a net liability position	$ (10,000)
Number of participation loans with swap contingent liabilities | loan	1		1
Interest-rate swaps
Derivative [Line Items]
Number of instruments held in back to back swaps | derivativeInstrument	2
Number of interest rate swaps | derivativeInstrument	4		4
Gain (loss) on interest rate swaps	$ 0	$ 0
Liability notional amount	54,621,000		$ 32,437,000
Counterparty credit risk exposure on interest rate swaps	0		708,000
Collateral posted for interest-rate swaps	0		20,000
Interest-rate swaps | Risk Participation Agreements Sold
Derivative [Line Items]
Liability notional amount	$ 46,907,000		$ 24,660,000

Regulatory Capital Requiremen_3

Regulatory Capital Requirements - Schedule of Regulatory Capital Requirements (Details) $ in Thousands	Mar. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital to RWA, actual, amount	$ 485,903	$ 476,307
Total capital to RWA, actual, ratio	0.1355	0.1349
Total capital to RWA, minimum capital for capital adequacy purposes, amount	$ 286,953	$ 282,567
Total capital to RWA, minimum capacity for adequacy purposes	0.0800	0.0800
Tier 1 Capital to RWA, actual, amount	$ 381,621	$ 372,817
Tier 1 capital to RWA, actual, ratio	0.1064	0.1056
Tier 1 capital to RWA, minimum capital for capital adequacy purposes, amount	$ 215,215	$ 211,926
Tier 1 capital to RWA, minimum capacity for capital adequacy purposes, ratio	0.0600	0.0600
Tier 1 capital to AA leverage ratio, actual, amount	$ 381,621	$ 372,817
Tier 1 capital to AA leverage ratio, actual, ratio	0.0847	0.0810
Tier 1 capital to AA leverage ratio, minimum capital for capital adequacy purposes, amount	$ 180,292	$ 184,194
Tier 1 capital to AA leverage ratio, minimum capacity for capital adequacy purposes, ratio	0.0400	0.0400
Common equity tier 1 capital to RWA, actual, amount	$ 381,621	$ 372,817
Common equity tier 1 capital to RWA, actual, ratio	10.64%	10.56%
Common equity tier 1 capital to RWA, minimum capital for capital adequacy purposes, amount	$ 161,411	$ 158,944
Common equity tier 1 capital to RWA, minimum capital for capital adequacy purposes, ratio	4.50%	4.50%
Basel III additional capital conservation buffer at full phase-in	2.50%	2.50%
The Bank
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total capital to RWA, actual, amount	$ 486,014	$ 475,668
Total capital to RWA, actual, ratio	0.1355	0.1347
Total capital to RWA, minimum capital for capital adequacy purposes, amount	$ 286,953	$ 282,567
Total capital to RWA, minimum capacity for adequacy purposes	0.0800	0.0800
Total capital to RWA, minimum capital to be well capitalized, amount	$ 358,692	$ 353,209
Total Capital to RWA, minimum capital to be well capitalized, ratio	0.1000	0.1000
Tier 1 Capital to RWA, actual, amount	$ 440,993	$ 431,359
Tier 1 capital to RWA, actual, ratio	0.1229	0.1221
Tier 1 capital to RWA, minimum capital for capital adequacy purposes, amount	$ 215,215	$ 211,926
Tier 1 capital to RWA, minimum capacity for capital adequacy purposes, ratio	0.0600	0.0600
Tier 1 capital to RWA, minimum capital to be well capitalized, amount	$ 286,953	$ 282,567
Tier 1 capital to RWA, minimum capital to be well capitalized, ratio	0.0800	0.0800
Tier 1 capital to AA leverage ratio, actual, amount	$ 440,993	$ 431,359
Tier 1 capital to AA leverage ratio, actual, ratio	0.0978	0.0937
Tier 1 capital to AA leverage ratio, minimum capital for capital adequacy purposes, amount	$ 180,292	$ 184,194
Tier 1 capital to AA leverage ratio, minimum capacity for capital adequacy purposes, ratio	0.0400	0.0400
Tier 1 capital to AA leverage ratio, minimum capital to be well capitalized, amount	$ 225,365	$ 230,243
Tier 1 capital to AA leverage ratio, minimum capital to be well capitalized, ratio	0.0500	0.0500
Common equity tier 1 capital to RWA, actual, amount	$ 440,993	$ 431,359
Common equity tier 1 capital to RWA, actual, ratio	12.29%	12.21%
Common equity tier 1 capital to RWA, minimum capital for capital adequacy purposes, amount	$ 161,411	$ 158,944
Common equity tier 1 capital to RWA, minimum capital for capital adequacy purposes, ratio	4.50%	4.50%
Common equity tier 1 capital to RWA, minimum capital to be well capitalized, amount	$ 233,150	$ 229,586
Common equity tier 1 capital to RWA, minimum capital to be well capitalized, ratio	6.50%	6.50%

Regulatory Capital Requiremen_4

Regulatory Capital Requirements - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2023	Dec. 31, 2022
Compliance with Regulatory Capital Requirements under Banking Regulations [Abstract]
Basel III additional capital conservation buffer at full phase-in	2.50%	2.50%
Capital conservation buffer value	$ 89.7

Comprehensive Income (Loss) - R

Comprehensive Income (Loss) - Reconciliation of Changes (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net change in fair value, after reclassifications, pre tax	$ 26,160	$ (58,036)
Net change in fair value , after reclassification, tax benefit (expense)	(5,912)	13,074
Total other comprehensive income (loss), net of tax	20,248	(44,962)
Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Change in fair value, before reclassifications, pre tax	26,160	(56,974)
Change in fair value, before reclassifications, tax benefit (expense)	(5,912)	12,840
Change in fair value, before reclassifications, after tax amount	20,248	(44,134)
Reclassifications, pre tax	0	1,062
Reclassifications, tax benefit (expense)	0	(234)
Reclassifications, after tax amount	0	828
Net change in fair value, after reclassifications, pre tax	26,160	(58,036)
Net change in fair value , after reclassification, tax benefit (expense)	(5,912)	13,074
Total other comprehensive income (loss), net of tax	$ 20,248	$ (44,962)

Comprehensive Income (Loss) - A

Comprehensive Income (Loss) - AOCI Rollforward (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	$ 282,267	$ 346,895
Total other comprehensive loss, net	20,248	(44,962)
Balance, ending	311,318	310,539
Unrealized Gains (Losses) on Debt Securities
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(96,207)	4,662
Total other comprehensive loss, net	20,248	(44,962)
Balance, ending	(75,959)	(40,300)
Total
AOCI Attributable to Parent, Net of Tax [Roll Forward]
Balance, beginning	(96,207)	4,662
Balance, ending	$ (75,959)	$ (40,300)

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares remain available for future grants (in shares)	376,429
Stock-based compensation expense	$ 522	$ 478
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 50	48
Restricted stock | Employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	4 years
Restricted stock | Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	2 years
Restricted stock and common stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 407	360
Common stock in lieu of cash | Non-Employee Director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 65	$ 70
Vesting, Year Two | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, vesting percentage		50%
Vesting, Year Four | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted, vesting percentage		50%

Stock-Based Compensation - Summ

Stock-Based Compensation - Summary Information for Options Granted (Details) - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)	0	16,797
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term in years		10 years
Weighted average assumptions used in the fair value model:
Expected volatility		44%
Weighted average market price on date of grants (in usd per share)		$ 38.58
Per share weighted average fair value (in usd per share)		$ 14.40
Weighted Average | Stock options
Weighted average assumptions used in the fair value model:
Expected dividend yield		3.05%
Expected life in years		6 years 6 months
Risk-free interest-rate		2.19%
Fair value as a percentage of market value at grant date		37%

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Grants (Details) - Restricted stock - $ / shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted (in shares)	63,989	52,631
Weighted average grant date fair value, stock awards (in usd per share)	$ 32.32	$ 38.58
Non-Employee Director | Two-year vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted (in shares)	0	8,823
Employee | Four-year vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted (in shares)	32,719	21,554
Employee | Performance-based vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted stock awards granted (in shares)	31,270	22,254

Earnings Per Share - Schedule o

Earnings Per Share - Schedule of Weighted Average Number of Shares (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	12,155,320	12,055,991
Dilutive shares (in shares)	38,436	63,845
Diluted weighted average common shares outstanding (in shares)	12,193,756	12,119,836

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive shares excluded from EPS (in shares)	34,164	34,210
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested participating restricted stock awards (in shares)	135,216		106,658

Fair Value Measurements - Recur

Fair Value Measurements - Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Liabilities measured on a recurring basis:
Specific reserve for individually evaluated collateral dependent loans	$ 371	$ 298
Fair Value, Measurements, Recurring | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	624	782
Fair Value, Measurements, Recurring | RPA sold | Fair Value
Liabilities measured on a recurring basis:
Fair value of liabilities	98	73
Fair Value, Measurements, Recurring | Debt securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	825,520	816,102
Fair Value, Measurements, Recurring | Equity securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	4,269
Fair Value, Measurements, Recurring | FHLB stock
Assets measured on a recurring and non-recurring basis:
Fair value of assets	2,343	2,343
Fair Value, Measurements, Recurring | Interest-rate swaps
Assets measured on a recurring and non-recurring basis:
Fair value of assets	624	782
Fair Value, Measurements, Recurring | Level 1 Inputs | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 Inputs | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	0	0
Fair Value, Measurements, Recurring | Level 1 Inputs | Debt securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 1 Inputs | Equity securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	4,269
Fair Value, Measurements, Recurring | Level 1 Inputs | FHLB stock
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 1 Inputs | Interest-rate swaps
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 2 Inputs | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	624	782
Fair Value, Measurements, Recurring | Level 2 Inputs | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	98	73
Fair Value, Measurements, Recurring | Level 2 Inputs | Debt securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	825,520	816,102
Fair Value, Measurements, Recurring | Level 2 Inputs | Equity securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 2 Inputs | FHLB stock
Assets measured on a recurring and non-recurring basis:
Fair value of assets	2,343	2,343
Fair Value, Measurements, Recurring | Level 2 Inputs | Interest-rate swaps
Assets measured on a recurring and non-recurring basis:
Fair value of assets	624	782
Fair Value, Measurements, Recurring | Level 3 Inputs | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 Inputs | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 Inputs | Debt securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 3 Inputs | Equity securities
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 3 Inputs | FHLB stock
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 3 Inputs | Interest-rate swaps
Assets measured on a recurring and non-recurring basis:
Fair value of assets	0	0
Fair Value, Measurements, Nonrecurring
Assets measured on a recurring and non-recurring basis:
Individually evaluated loans (collateral dependent)	954	740
Fair Value, Measurements, Nonrecurring | Level 1 Inputs
Assets measured on a recurring and non-recurring basis:
Individually evaluated loans (collateral dependent)	0	0
Fair Value, Measurements, Nonrecurring | Level 2 Inputs
Assets measured on a recurring and non-recurring basis:
Individually evaluated loans (collateral dependent)	0	0
Fair Value, Measurements, Nonrecurring | Level 3 Inputs
Assets measured on a recurring and non-recurring basis:
Individually evaluated loans (collateral dependent)	$ 954	$ 740

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative (Details) - Fair Value, Measurements, Nonrecurring - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent)	$ 954	$ 740
Level 3 Inputs
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent)	$ 954	740
Level 3 Inputs | Individually evaluated loans (collateral dependent) | Appraisal adjustments | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent), unobservable input value or range	15%
Level 3 Inputs | Individually evaluated loans (collateral dependent) | Appraisal adjustments | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent), unobservable input value or range	50%
Level 3 Inputs | Individually evaluated loans (collateral dependent) | Appraisal of collateral
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent)	$ 954	$ 740

Fair Value Measurements - Balan

Fair Value Measurements - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Dec. 31, 2022
Carrying Value
Financial assets:
Loans held for sale	$ 362
Loans, net	3,175,154	$ 3,127,878
Financial liabilities:
Borrowed funds	3,199	3,216
Subordinated debt	59,261	59,182
Carrying Value | CDs
Financial liabilities:
Deposits	375,061	287,192
Fair Value
Financial assets:
Loans held for sale	358
Loans, net	3,017,247	2,952,778
Financial liabilities:
Borrowed funds	2,191	2,006
Subordinated debt	55,671	55,407
Fair Value | CDs
Financial liabilities:
Deposits	370,316	281,800
Level 1 Inputs
Financial assets:
Loans held for sale	0
Loans, net	0	0
Financial liabilities:
Borrowed funds	0	0
Subordinated debt	0	0
Level 1 Inputs | CDs
Financial liabilities:
Deposits	0	0
Level 2 Inputs
Financial assets:
Loans held for sale	358
Loans, net	0	0
Financial liabilities:
Borrowed funds	2,191	2,006
Subordinated debt	55,671	55,407
Level 2 Inputs | CDs
Financial liabilities:
Deposits	370,316	281,800
Level 3 Inputs
Financial assets:
Loans held for sale	0
Loans, net	3,017,247	2,952,778
Financial liabilities:
Borrowed funds	0	0
Subordinated debt	0	0
Level 3 Inputs | CDs
Financial liabilities:
Deposits	$ 0	$ 0

Supplemental Cash Flow (Details

Supplemental Cash Flow (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Supplemental financial data:
Cash paid for: interest	$ 6,931	$ 2,222
Cash paid for: income taxes	4,455	5,060
Cash paid for: lease liability	340	331
Supplemental schedule of non-cash activity:
Net purchases of investment securities not yet settled	$ 0	$ 1,500