Enterprise Bancorp (EBTC) 10-K 8 Mar 24 2023 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 29, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 296,960,546
Entity Common Stock, Shares Outstanding		12,278,649
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement for its annual meeting of shareholders to be held on May 7, 2024, are incorporated by reference in Part III of this Form 10-K.
Entity Central Index Key	0001018399
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Auditor Information [Abstract]
Auditor Name	RSM US LLP
Auditor Location	Boston, Massachusetts
Auditor Firm ID	49

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Cash and cash equivalents:
Cash and due from banks	$ 37,443	$ 36,901
Interest-earning deposits with banks	19,149	230,688
Total cash and cash equivalents	56,592	267,589
Investments:
Debt securities at fair value (amortized cost of $763,981 and $940,227, respectively)	661,113	816,102
Equity securities at fair value	7,058	4,269
Total investment securities at fair value	668,171	820,371
Federal Home Loan Bank stock	2,402	2,343
Loans held for sale	200	0
Loans:
Total loans	3,567,631	3,180,518
Allowance for credit losses	(58,995)	(52,640)
Net loans	3,508,636	3,127,878
Premises and equipment, net	44,931	44,228
Lease right-of-use asset	24,820	24,923
Accrued interest receivable	19,233	17,117
Deferred income taxes, net	49,166	51,981
Bank-owned life insurance	65,455	64,156
Prepaid income taxes	1,589	683
Prepaid expenses and other assets	19,183	11,408
Goodwill	5,656	5,656
Total assets	4,466,034	4,438,333
Liabilities
Deposits	3,977,521	4,035,806
Borrowed funds	25,768	3,216
Subordinated debt	59,498	59,182
Lease liability	24,441	24,415
Accrued expenses and other liabilities	45,011	31,442
Accrued interest payable	4,678	2,005
Total liabilities	4,136,917	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; 12,272,674 and 12,133,516 shares issued and outstanding, respectively	123	121
Additional paid-in capital	107,377	103,793
Retained earnings	301,380	274,560
Accumulated other comprehensive loss	(79,763)	(96,207)
Total shareholders' equity	329,117	282,267
Total liabilities and shareholders' equity	$ 4,466,034	$ 4,438,333

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Debt securities, amortized cost	$ 763,981	$ 940,227
Preferred stock, par value (in dollars 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 dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,272,674	12,133,516
Common stock, shares outstanding (in shares)	12,272,674	12,133,516

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest and dividend income:
Loans and loans held for sale	$ 172,535	$ 135,934	$ 133,208
Investment securities	18,575	18,965	15,143
Other interest-earning assets	9,943	6,014	682
Total interest and dividend income	201,053	160,913	149,033
Interest expense:
Deposits	44,389	5,711	3,922
Borrowed funds	113	52	60
Subordinated debt	3,467	3,352	3,495
Total interest expense	47,969	9,115	7,477
Net interest income	153,084	151,798	141,556
Provision for credit losses	9,249	5,800	1,770
Net interest income after provision for credit losses	143,835	145,998	139,786
Non-interest income:
Wealth management fees	6,730	6,533	6,787
Deposit and interchange fees	8,475	8,196	6,971
Income on bank-owned life insurance, net	1,264	1,202	821
Net (losses) gains on sales of debt securities	(2,419)	(1,973)	128
Net gains on sales of loans	34	30	833
Net gain on sale of OREO	0	0	1,126
Net gain on sale of insurance commissions	0	2,034	0
Loss on termination of swaps	0	0	(1,847)
Gain (loss) on equity securities	666	(514)	246
Other income	2,859	2,954	3,042
Total non-interest income	17,609	18,462	18,107
Non-interest expense:
Salaries and employee benefits	72,283	72,120	66,633
Occupancy and equipment expenses	9,722	9,299	9,650
Technology and telecommunications expenses	10,656	10,735	10,574
Advertising and public relations expenses	2,786	2,758	2,373
Audit, legal and other professional fees	2,945	2,949	2,347
Deposit insurance premiums	2,712	1,783	1,910
Supplies and postage expenses	998	912	819
Loss on extinguishment of subordinated debt	0	0	713
Other operating expenses	8,097	7,758	7,116
Total non-interest expense	110,199	108,314	102,135
Income before income taxes	51,245	56,146	55,758
Provision for income taxes	13,187	13,430	13,587
Net income	$ 38,058	$ 42,716	$ 42,171
Basic earnings per share (in dollars per share)	$ 3.11	$ 3.53	$ 3.51
Diluted earnings per share (in dollars per share)	$ 3.11	$ 3.52	$ 3.50
Basic weighted average common shares outstanding (in shares)	12,223,626	12,103,033	12,005,838
Diluted weighted average common shares outstanding (in shares)	12,244,036	12,149,777	12,051,293

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 38,058	$ 42,716	$ 42,171
Other comprehensive income (loss), net of taxes:
Net change in fair value of debt securities	16,444	(100,869)	(19,554)
Net change in fair value of cash flow hedges	0	0	2,023
Total other comprehensive income (loss), net	16,444	(100,869)	(17,531)
Total comprehensive income (loss), net	$ 54,502	$ (58,153)	$ 24,640

Consolidated Statements of Chan

Consolidated Statements of Changes in Shareholders' Equity - USD ($) $ in Thousands	Total	CECL adjustment upon adoption	Common Stock	Additional Paid-in Capital	Retained Earnings	Retained Earnings CECL adjustment upon adoption	Accumulated Other Comprehensive Income/(Loss)
Balance, beginning, outstanding (in shares) at Dec. 31, 2020			11,937,795
Balance, beginning at Dec. 31, 2020	$ 334,426	$ (6,510)	$ 119	$ 97,137	$ 214,977	$ (6,510)	$ 22,193
Increase (Decrease) in Shareholders' Equity
Net income	42,171				42,171
Other comprehensive income (loss), net	(17,531)						(17,531)
Common stock dividend declared	(8,877)				(8,877)
Common stock issued under dividend reinvestment plan (in shares)			36,651
Common stock issued under dividend reinvestment plan	1,250			1,250
Common stock issued, other (in shares)			1,766
Common stock issued, other	59			59
Stock-based compensation, net (in shares)			63,329
Stock-based compensation, net	2,094		$ 1	2,093
Net settlement for employee taxes on restricted stock and options (in shares)			(10,029)
Net settlement for employee taxes on restricted stock and options	(346)			(346)
Stock options exercised, net (in shares)			8,870
Stock option exercised, net	159			159
Balance, ending, outstanding (in shares) at Dec. 31, 2021			12,038,382
Balance, ending at Dec. 31, 2021	346,895		$ 120	100,352	241,761		4,662
Increase (Decrease) in Shareholders' Equity
Net income	42,716				42,716
Other comprehensive income (loss), net	(100,869)						(100,869)
Common stock dividend declared	(9,917)				(9,917)
Common stock issued under dividend reinvestment plan (in shares)			40,640
Common stock issued under dividend reinvestment plan	1,396			1,396
Common stock issued, other (in shares)			1,378
Common stock issued, other	47			47
Stock-based compensation, net (in shares)			59,338
Stock-based compensation, net	2,314		$ 1	2,313
Net settlement for employee taxes on restricted stock and options (in shares)			(11,713)
Net settlement for employee taxes on restricted stock and options	(433)			(433)
Stock options exercised, net (in shares)			5,491
Stock option exercised, net	$ 118			118
Balance, ending, outstanding (in shares) at Dec. 31, 2022	12,133,516		12,133,516
Balance, ending at Dec. 31, 2022	$ 282,267		$ 121	103,793	274,560		(96,207)
Increase (Decrease) in Shareholders' Equity
Net income	38,058				38,058
Other comprehensive income (loss), net	16,444						16,444
Common stock dividend declared	(11,238)				(11,238)
Common stock issued under dividend reinvestment plan (in shares)			50,443
Common stock issued under dividend reinvestment plan	1,504		$ 1	1,503
Common stock issued, other (in shares)			1,474
Common stock issued, other	44			44
Stock-based compensation, net (in shares)			79,074
Stock-based compensation, net	2,305		$ 1	2,304
Net settlement for employee taxes on restricted stock and options (in shares)			(9,229)
Net settlement for employee taxes on restricted stock and options	(447)			(447)
Stock options exercised, net (in shares)			17,396
Stock option exercised, net	$ 180			180
Balance, ending, outstanding (in shares) at Dec. 31, 2023	12,272,674		12,272,674
Balance, ending at Dec. 31, 2023	$ 329,117		$ 123	$ 107,377	$ 301,380		$ (79,763)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Shareholders' Equity (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Stockholders' Equity [Abstract]
Common stock dividend declared (in dollars per share)	$ 0.92	$ 0.82	$ 0.74

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 38,058	$ 42,716	$ 42,171
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	9,249	5,800	1,770
Depreciation and amortization	6,188	7,036	7,809
Stock-based compensation expense	2,269	2,316	2,060
Income on bank-owned life insurance, net	(1,264)	(1,202)	(821)
Net losses (gains) on sales of debt securities	2,419	1,973	(128)
Net (gains) losses on equity securities	(666)	514	(246)
Mortgage loans originated for sale	(2,247)	(1,263)	(29,123)
Proceeds from mortgage loans sold	2,081	1,293	30,327
Net gains on sales of loans	(34)	(30)	(833)
Net gains on sales of OREO	0	0	(1,126)
Loss on termination of swaps	0	0	1,847
Changes in:
Net (increase) decrease in other assets	(12,818)	(11,322)	9,324
Net increase (decrease) in other liabilities	13,922	169	(798)
Net cash provided by operating activities	57,157	48,000	62,233
Cash flows from investing activities:
Proceeds from sales of debt securities	84,779	69,620	3,059
Purchase of debt securities	0	(145,868)	(491,213)
Proceeds from maturities, calls and pay-downs of debt securities	88,176	82,834	87,347
Net purchases of equity securities	(2,123)	(2,998)	(793)
Net purchases of FHLB capital stock	(59)	(179)	(259)
Net (increase) decrease in loans	(387,218)	(260,073)	146,812
Additions to premises and equipment, net	(6,019)	(4,838)	(4,187)
Proceeds from OREO sales	0	0	3,526
Purchase of bank-owned life insurance	0	0	(30,770)
Net cash used in investing activities	(222,464)	(261,502)	(286,478)
Cash flows from financing activities:
Net (decrease) increase in deposits	(58,285)	55,567	428,976
Advancements from long-term borrowings	22,957	302	5,085
Repayments of long-term borrowings	(405)	(2,565)	(4,380)
Repayment of subordinated debt	0	0	(15,600)
Loss on extinguishment of subordinated debt	0	0	713
Cash dividends paid, net of dividend reinvestment plan	(9,734)	(8,521)	(7,627)
Proceeds from issuance of common stock	44	47	59
Net settlement for employee taxes on restricted stock and options	(447)	(433)	(346)
Net proceeds from stock option exercises	180	118	159
Net cash (used in) provided by financing activities	(45,690)	44,515	407,039
Net (decrease) increase in cash and cash equivalents	(210,997)	(168,987)	182,794
Cash and cash equivalents at beginning of year	267,589	436,576	253,782
Cash and cash equivalents at end of year	$ 56,592	$ 267,589	$ 436,576

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 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 consolidated financial statements of Enterprise Bancorp, Inc. (the "Company," "Enterprise," "we," or "our"), a Massachusetts corporation, 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 the Company's operations are conducted through the Bank and its subsidiaries. The Bank's subsidiaries include Enterprise Wealth Services, LLC, organized under the laws of the State of Delaware, to offer non-deposit investment products and services. 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 for the purpose of investing in a local NMTC project which provides federal tax incentives for investments in distressed communities. The NMTC are discussed in Note 15, " Income Taxes" The Company's headquarters and the Bank's main office are located at 222 Merrimack Street in Lowell, Massachusetts. At December 31, 2023, the Company had 27 full-service branch banking offices serving the Northern Middlesex, Northern Essex and Northern Worcester counties of Massachusetts and Southern Hillsborough and Southern Rockingham counties in New Hampshire. Through the Bank and its subsidiaries, the Company offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options. The Company also provides a range of wealth management services. 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 FDIC and the Massachusetts Division of Banks (the "Division") have regulatory authority over the Bank. The Bank is also subject to certain regulatory requirements of the Board of Governors of the Federal Reserve System (the "Federal Reserve Board") and, with respect to its New Hampshire branch operations, the New Hampshire Banking Department. The business and operations of the Company are subject to the regulatory oversight of the Federal Reserve Board. The Division also retains supervisory jurisdiction over the Company. The accompanying audited consolidated financial statements and notes thereto have been prepared in accordance with U.S. GAAP and the instructions for SEC Form 10-K through the rules and interpretive releases of the SEC under federal securities law. In the opinion of management, the accompanying audited consolidated financial statements reflect all necessary adjustments consisting of normal recurring accruals for a fair presentation. All significant intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements. Certain previous years' amounts in the consolidated financial statements, and notes thereto, have been reclassified to conform to the current year's presentation. The Company has evaluated subsequent events and transactions from December 31, 2023, through the filing date of this Annual Report on Form 10-K with the SEC for potential recognition or disclosure as required by GAAP and determined that there were no material subsequent events requiring recognition or disclosure. (b) Uses of Estimates In preparing the consolidated 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 years 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. The most significant areas in which management applies critical assumptions and estimates are the estimates of the allowance for credit losses for loans and available for sale securities, the reserve for unfunded commitments, and the impairment review of goodwill, which are each discussed below. (c) Cash and Cash Equivalents Cash equivalents are defined as highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts of cash and present insignificant risk of changes in value due to changes in interest rates. The Company's cash and cash equivalents may be comprised of cash on hand and cash items due from banks, interest-earning deposits with banks (deposit accounts, excess reserve cash balances, money markets, and money market mutual fund accounts) and overnight and term federal funds sold to money center banks. Balances in cash and cash equivalents will fluctuate due primarily to the timing of net cash flows from deposits, borrowings, loans and investments, and the immediate liquidity needs of the Company. (d) Restricted Cash and Investments Certain of the Company's derivative agreements contain provisions for collateral to be posted if the derivative exposure exceeds a threshold amount. When the Company has pledged cash as collateral in relation to certain derivatives, the cash is carried as restricted cash within "Interest-earning deposits with banks." See Note 9, "Derivatives and Hedging Activities," to the Company's consolidated financial statements of this Form 10-K below for more information about the Company's collateral related to its derivatives. As a member of the FHLB, the Company is required to purchase certain levels of FHLB capital stock at par value in association with outstanding advances from the FHLB. From time-to-time, the FHLB may initiate the repurchase, at par value, of "excess" levels of its capital stock held by member banks. This stock is classified as a restricted investment and is carried at cost, which management believes approximates fair value. FHLB stock represents the only restricted investment held by the Company. Management regularly reviews its holdings of FHLB stock for impairment, and as of December 31, 2023, the Company has determined that no allowance for credit losses on FHLB stock was necessary. (e) Investment Securities Investments in debt securities that are intended to be held for indefinite periods of time, but which may not be held to maturity or on a long-term basis are considered to be "available-for-sale" and are carried at fair value. Included as available-for-sale are debt securities that are purchased in connection with the Company's asset-liability risk management strategy and that may be sold in response to changes in interest rates, prepayment risk and other related factors. In instances where the Company has the positive intent to hold debt securities to maturity, these securities will be classified as held-to-maturity and carried at amortized cost. As of the balance sheet dates, all the Company's debt securities were classified as available-for-sale and carried at fair value. Net unrealized appreciation and depreciation on debt securities available-for-sale, net of applicable income taxes, are recorded in the Company's Consolidated Statement of Comprehensive Income as a component of "Accumulated other comprehensive (loss) income." The net unrealized gain or loss in the Company's debt security portfolio fluctuates as market interest rates rise and fall. Due to the fixed rate nature of this portfolio, as market rates fall, the value of the portfolio rises, and as market rates rise, the value of the portfolio declines. The unrealized gains or losses on debt securities will also decline as the securities approach maturity. The Company's equity securities are carried at fair value with changes in fair value recognized in the Company's Consolidated Income Statement as a component of "Other income." The net gains and losses on equity securities that will be recognized as a component of "Non-interest income" in the future will depend on the amount of dollars invested in equities, the magnitude of changes in equity markets and the amount of gains or losses realized through equity sales. Investment securities' discounts are accreted and premiums are amortized over the period of estimated principal repayment using methods that approximate the interest method. Gains or losses on the sale of investment securities are recognized on the trade date on a specific identification basis. ACL for Available-for-Sale Securities Methodology In accordance with ASC "Financial Instruments—Credit Losses (Topic 326), the Company's expected credit losses on available-for-sale debt securities are presented as an allowance rather than as a write-down. The Company measures expected credit losses on available-for-sale securities based upon the unrealized gain or loss position of the security. For available-for-sale debt securities in an unrealized loss position, the Company evaluates qualitative criteria to determine any expected loss unless the Company intends to sell, or it is more likely than not that the Company will be required to sell before recovery of the amortized cost. In the latter two circumstances, the Company recognizes the entire difference between the security’s amortized cost basis and its fair value as a write-down of the investment balance with a charge to earnings. Otherwise, management’s analysis considers various factors, which include among other considerations (1) the present value of the cash flows expected to be collected compared to the amortized cost of the security, (2) duration and magnitude of the decline in value, (3) the financial condition of the issuer or issuers, and (4) structure of the security. If the Company does not expect to recover the entire amortized cost basis of the security, an allowance for credit losses for available-for-sale securities would be recorded, with a related charge to earnings, limited by the difference of the amortized cost of the security to its fair value. Subsequent measurements of the ACL for available-for-sale securities may result in a reversal the allowance for credit losses, not to exceed the amount initially recognized. In addition, the Company has elected to exclude accrued interest from the measurement of the allowance for credit losses for available-for-sale debt securities and to continue to write-off uncollectible accrued interest receivable by reversing interest income. At December 31, 2023, management performed its quarterly analysis of all securities with unrealized losses and determined that all were attributable to increases in market interest rates. Management concluded that no ACL for available-for-sale securities was considered necessary as of December 31, 2023 and anticipates they will mature or be called at par value. The Company does not intend to sell these investments and has determined, based upon available evidence, that it is more likely than not that the Company will not be required to sell each security before the recovery of its amortized cost basis. (f) Loans Held for Sale Depending on the current interest-rate environment, management projections of future interest rates and the overall asset-liability management program of the Company, management may elect to sell those fixed and adjustable-rate residential mortgage loans which are eligible for sale in the secondary market or hold some or all of this residential loan production for the Company's portfolio. Mortgage loans are generally not pooled for sale, but instead sold on an individual basis. Enterprise may retain or sell the servicing when selling the loans. Loans sold are subject to standard secondary market underwriting and eligibility representations and warranties over the life of the loan and are subject to an early payment default period covering the first four payments for certain loan sales. Loans held for sale are carried at the lower of aggregate amortized cost or fair value on a separate line on the balance sheet. Fair value is based on comparable market prices for loans with similar rates and terms. When loans are sold, a gain or loss is recognized to the extent that the sales proceeds plus unamortized fees and costs exceed, or are less than, the carrying value of the loans. Gains and losses are determined using the specific identification method. (g) Loans Loans made by the Company to businesses, non-profits and professional practices include commercial real estate mortgage loans, construction and land development loans, secured and unsecured commercial loans and lines of credit, and letters of credit. Loans made to individuals include conventional residential mortgage loans, home equity lines, residential construction loans on owner-occupied primary and secondary residences, and secured and unsecured personal loans and lines of credit. Most loans granted by the Company are collateralized by real estate, equipment, or receivables and/or are guaranteed by the principals of the borrower. Loans are reported at the principal amount outstanding, net of deferred origination fees and costs. The aggregate amounts of overdrawn deposit accounts are reclassified as loan balances. Loan origination fees received, offset by direct loan origination costs, are deferred and amortized using the straight-line method over three years to five years for lines of credit and demand notes or over the life of the related loans using the level-yield method for all other types of loans. When loans are paid off, the unamortized fees and costs are recognized as an adjustment to interest income. Certain of the Company's directors, officers, principal shareholders, and their associates are credit customers of the Company in the ordinary course of business. In addition, certain directors are also directors, trustees, officers or shareholders of corporations and non-profit entities or members of partnerships that are customers of the Bank and that enter into loan and other transactions with the Bank in the ordinary course of business. All loans and commitments included in such transactions are on such terms, including interest rates, repayment terms and collateral, as those prevailing at the time for comparable transactions with persons who are not affiliated with the Bank and do not involve more than a normal risk of collectability or present other features unfavorable to the Bank. From time to time, the Company participates with other banks in the financing of certain commercial projects. In order to qualify for sale accounting under GAAP, the rights and obligations of each participating bank are divided proportionately among the participating banks in an amount equal to their share of ownership and with equal priority among all banks. Each participation is governed by individual participation agreements executed by the lead bank and the participants at loan origination. When a participation qualifies as a sale under GAAP, the balances participated out to other institutions are not carried as assets on the Company's consolidated financial statements. When a participation does not qualify as a sale under GAAP, the loan is carried at gross principal outstanding and the balances participated out to other institutions are carried as secured borrowings on the Company's consolidated financial statements. The Company performs an independent credit analysis of each commitment and a review of the participating institution prior to participation in the loan, and an annual review thereafter of each participating institution. Loans originated by other banks in which the Company is the participating institution are carried in the loan portfolio at the Company's pro rata share of ownership. Participating loans with other institutions provide banks the opportunity to retain customer relationships and reduce credit risk exposure among each participating bank, while providing customers with larger credit vehicles than the individual bank might be willing or able to offer independently. The Company seeks to lessen its credit risk exposure by managing its loan portfolio to avoid concentration by industry, relationship size and source of repayment, and through sound underwriting practices and the credit risk management function; however, management recognizes that credit losses will occur and that the amount of these losses will fluctuate depending on the risk characteristics of the loan portfolio and economic conditions. (h) Credit Risk Management and ACL for Loans Methodology Inherent in the lending process is the risk of loss due to customer non-payment, or "credit risk." The Company's commercial lending focus may entail significant additional credit risks compared to long-term financing on existing, owner-occupied residential real estate. The credit risk management function focuses on a wide variety of factors and early detection of credit issues is critical to minimize credit losses. Accordingly, management regularly monitors these factors, among others, through ongoing credit reviews by the Company's Credit Department, an external loan review service, reviews by members of senior management as well as reviews by the Board's Loan Committee and the Board. These reviews include the assessment of internal credit quality indicators such as, among others, the risk classification of loans, past due and non-accrual loans, loans individually evaluated or with hardship modifications, and the level of foreclosure activity. Credit Risk Management The Company's loan risk rating system classifies loans depending on risk of loss characteristics. The classifications range from "substantially risk free" for the highest quality loans and loans that are secured by cash collateral, through a satisfactory range of "minimal," "moderate," "better than average," and "average" risk, all of which are considered "pass" rated credits. The adverse classifications range from "special mention," for loans that may need additional monitoring, to the more severe classifications of "substandard," "doubtful," and "loss" based on criteria established under banking regulations. Loans classified as "substandard" include those characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as "doubtful" have all the weaknesses inherent in a substandard rated loan with the added characteristic that the weaknesses make collection or full payment from liquidation, based on existing facts, conditions, and values, highly questionable and improbable. Loans classified as "loss" are generally considered uncollectible at present, although long term recovery of part or all of loan proceeds may be possible. These "loss" loans would require a specific loss reserve or charge-off. Loans which are evaluated to be of weaker credit quality are classified as adverse and placed on the "watch asset list" and reviewed on a more frequent basis by management. Adversely classified loans may be accruing or in non-accrual status and may be additionally designated as individually evaluated or restructured, or some combination thereof. Loans on which the accrual of interest has been discontinued are designated as non-accrual loans and the classified portions are credit downgraded to one of the adversely classified categories noted above. Accrual of interest on loans is generally discontinued when a loan becomes contractually past due, with respect to interest or principal, by 90 days, or when reasonable doubt exists as to the full and timely collection of interest or principal. When a loan is placed on non-accrual status, all interest previously accrued but not collected is reversed against current period interest income. Interest accruals are resumed on such loans only when payments are brought current and have remained current for a period of 180 days or when, in the judgment of management, the collectability of both principal and interest is reasonably assured. Interest payments received on loans in a non-accrual status are generally applied to principal on the books of the Company. Loans individually evaluated consist primarily of loans for which management considers it probable that not all amounts due (principals and interest) will be collected in accordance with the original contractual terms and, to a lesser extent, if applicable, loans that management deems as individually significant or with unique risk characteristics or for some other reason based on management’s judgement. Management considers the individual payment status, net worth and earnings potential of the borrower, and the value and cash flow of the collateral as factors to determine if a loan will be paid in accordance with its contractual terms. Effective on January 1, 2023, the Company adopted ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings 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 experiencing financial difficulty 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 for 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 or not a delay in payment resulting from the current modification is insignificant. Individually evaluated adversely classified loans will be considered for upgrade based on the borrower's sustained performance over time and their improving financial condition. Consistent with the criteria for returning non-accrual loans to accrual status, the borrower must demonstrate the ability to continue to service the loan in accordance with the original or modified terms and, in the judgment of management, the collectability of the remaining balances, both principal and interest, are reasonably assured. A specific allowance is assigned to the loan for the amount of estimated credit loss. Individually evaluated loans are charged-off, in whole or in part, when management believes that the recorded investment in the loan is uncollectible. ACL for Loans Methodology In accordance with ASC "Financial Instruments—Credit Losses (Topic 326)," the CECL methodology requires early recognition of credit losses using a lifetime credit loss measurement approach that also requires the consideration of reasonable and supportable forecasts in the estimate. The CECL methodology is applicable to the loan portfolio, measured at amortized cost. It also applies to off-balance sheet credit exposures such as unadvanced loan & line balances, commitments to originate loans, standby letters of credit, and other similar instruments, which are not unconditionally cancellable. Additionally, the Company has elected to continue to present the accrued interest receivable balance on loans separate from amortized costs, exclude accrued interest from the measurement of the allowance for credit losses for loans and to continue to write-off uncollectible accrued interest receivable by reversing interest income. The ACL for loans is established through a provision for credit losses, recorded as a direct charge to earnings. The ACL for loans is a valuation account that is deducted from the amortized cost to present the net amount of the loan portfolio expected to be collected. Credit losses are charged against the ACL for loans when management believes that the collectability of the amortized cost of a loan's principal balance is unlikely. Recoveries on loans previously charged-off are credited to the ACL for loans, generally at the time cash is received on a charged-off account. Arriving at an appropriate level of ACL for loans involves a high degree of management judgement. The underlying assumptions, estimates and assessments used to estimate the ACL for loans reflects the Company’s best estimate of model assumptions and forecasted conditions at that time. Changes in such estimates can significantly affect the ACL for loans and the provision for credit losses. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company's ACL for loans. Such agencies may require the Company to recognize additions to the ACL for loans based on judgments different from those of management. It is possible and likely that the Company will experience credit losses that are different from the current estimates and future additions to the ACL for loans may be necessary. On a quarterly basis, the Company makes an assessment to estimate the ACL for loans necessary to cover expected lifetime credit losses. The adequacy of the ACL for loans is reviewed and evaluated on a regular basis by an internal management committee, a sub-committee of the Company's Board of Directors (the "Board") and the full Board. In making its assessment on the adequacy of the ACL for loans, management considers several quantitative and qualitative factors from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. The Company uses a systematic methodology to measure the amount of estimated loan losses. The methodology uses a two-tiered approach that applies general reserves for larger groups of homogeneous loans, segmented by loan type and specific reserves for loans individually evaluated. Loans collectively evaluated Management segments loans of similar risk characteristics using the Open Pool method by first calculating each segment's loss rate as net charge-offs over the expected average life of each segment, divided by the average loan balance over that same period. The historic loss factor is an average of the loss rate over a 5-year look-back period, which approximates the average age of charged-off loans. These historic loss factors are then adjusted up or down based on management's assessment of quantitative and qualitative factors. These key factors including quantitative facts about the loan portfolio such as: commercial concentrations by industry, property type and real estate location; the growth and composition of the loan portfolio; trends in risk classification of individual loans and higher risk problem assets; the level of delinquent, non-performing, and individually evaluated loans; the level of hardship loan modifications; foreclosure activity; net charge-offs; as well as trends in the general levels of these indicators. In addition, management monitors qualitative factors such as: expansion in the Company's geographic market area; the experience level of lenders and any changes in underwriting criteria; Market conditions, including general conditions in the multi-family, commercial real estate and construction and development markets in the Company's local region as well as changes in current and forecasted economic conditions, such as changes in gross domestic product, the unemployment rate and new jobs created, real estate values, commercial vacancy rates, recession risk estimates and other relevant economic factors. Management uses a two-year reasonable and supportable forecast, and for periods beyond the forecast period, reverts immediately to historical loss rates. Management weighs the current effect of each of these areas on each particular loan segment in determining the allowance allocation factors. Management must exercise significant judgment when evaluating the effect of these quantitative and qualitative factors on the amount of the ACL for loans as data may not be reasonably available or directly applicable to determine the precise impact of a factor on the collectability over the remaining average life. The methodology contemplates a range of acceptable levels for these factors due to the subjective nature of the factors and the qualitative considerations related to the credit risk in the portfolio. Although 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, during the quarter ended September 30, 2023, the Company made a minor modification to its ACL estimation process used in the prior year. The Company streamlined its allowance estimation process to collectively evaluate all loans not individually evaluated as one cohort segmented by loan type. Previously, the Company separately evaluated non-classified loans and adversely classified loans. The change did not have a material impact on the ACL for loans at December 31, 2023. Management recognizes that additional issues may also impact the estimate of expected credit losses to some degree. From time to time management will re-evaluate the qualitative factors, regulatory guidance, and industry data in use in order to consider the impact of other issues which, based on changing circumstances, may become more significant in the future. Loans individually evaluated For loans that are individually evaluated, as discussed above, management estimates the credit loss by comparing the loan's carrying value against either (i) the present value of the expected future cash flows discounted at the loan's effective interest-rate; (ii) the loan's observable market price; or (iii) the expected realizable fair value of the collateral, in the case of collateral dependent loans. A specific allowance is assigned to the loan for the amount of estimated credit loss. Individually evaluated loans are charged-off, in whole or in part, when management believes that the recorded investment in the loan is uncollectible. Reserve for unfunded commitments The reserve for unfunded commitments is included in the line item "Accrued expenses and other liabilities" on the Company’s Consolidated Balance Sheets. Management applies the CECL methodology to off-balance sheet commitments in a manner consistent with on-balance sheet loan loss rates. Additionally, the estimate of credit loss incorporates assumptions for both the likelihood and amount of funding over the estimated life of the commitments. Management periodically reviews and updates its assumptions for estimated funding rates. (i) Other Real Estate Owned Real estate acquired by the Company through foreclosure proceedings or the acceptance of a deed in lieu of foreclosure is classified as OREO. When property is acquired, it is recorded at the estimated fair value of the property acquired, less estimated costs to sell, establishing a new cost basis and carried on the Consolidated Balance Sheet in the line item "Prepaid expenses and other assets." The estimated fair value is based on market appraisals and the Company's internal analysis. Any loan balance more than the estimated realizable fair value on the date of transfer is charged to the allowance for credit losses on that date. All costs incurred thereafter in maintaining the property, as well as subsequent declines in fair value are charged to non-interest expense. (j) Premises and Equipment Land is carried at cost. All other premises and equipment costs are stated at

Investment Securities

Investment Securities	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investment Securities	Investment Securities As of December 31, 2023, and 2022 , the investment portfolio was comprised primarily of debt securities, with a small portion of the investment portfolio invested in equity 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: 2023 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Federal agency obligations $ 5,006 $ — $ 28 $ 4,978 U.S. treasury securities 16,993 — 1,068 15,925 Federal agency CMO 396,665 33 61,947 334,751 Federal agency MBS 21,586 31 2,805 18,812 Taxable municipal securities 262,168 34 35,225 226,977 Tax-exempt municipal securities 45,548 156 285 45,419 Corporate bonds 4,058 — 92 3,966 Subordinated corporate bonds 11,957 — 1,672 10,285 Total debt securities, at fair value $ 763,981 $ 254 $ 103,122 $ 661,113 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 Accrued interest receivable on available-for-sale debt securities, included in the " Accrued Interest Receivable At December 31, 2023, management performed its quarterly analysis of all securities with unrealized losses and determined that the losses were attributable to significant increases in market interest rates. Management concluded that no ACL for available-for-sale securities was necessary as of December 31, 2023 and anticipates they will mature or be called at par value. The Company does not intend to sell these investments and has determined, based upon available evidence, that it is more likely than not that the Company will not be required to sell each security before the recovery of its amortized cost basis. The following tables summarize the duration of unrealized losses for debt securities at December 31, 2023 and 2022: 2023 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized # of Holdings Federal agency obligations $ 4,978 $ 28 $ — $ — $ 4,978 $ 28 1 U.S. treasury securities — — 15,925 1,068 15,925 1,068 4 Federal agency CMO 8,810 18 311,221 61,929 320,031 61,947 86 Federal agency MBS — — 17,114 2,805 17,114 2,805 10 Taxable municipal securities 1,993 316 223,949 34,909 225,942 35,225 251 Tax-exempt municipal securities 11,890 55 10,519 230 22,409 285 53 Corporate bonds — — 3,966 92 3,966 92 18 Subordinated corporate bonds — — 10,285 1,672 10,285 1,672 6 Total temporarily impaired debt securities $ 27,671 $ 417 $ 592,979 $ 102,705 $ 620,650 $ 103,122 429 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 40,373 2,582 43,251 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 temporarily impaired debt securities $ 354,291 $ 26,157 $ 431,932 $ 98,093 $ 786,223 $ 124,250 542 The contractual maturity distribution at December 31, 2023 of debt securities was as follows: (Dollars in thousands) Amortized Cost Fair Value Due in one year or less $ 30,657 $ 30,252 Due after one, but within five years 85,847 81,696 Due after five, but within ten years 252,508 217,720 Due after ten years 394,969 331,445 Total debt securities $ 763,981 $ 661,113 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 $133.4 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 FRB. The fair value of debt securities pledged as collateral for these purposes was $650.8 million and $804.2 million at December 31, 2023 and 2022, respectively. Sales of debt securities, for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: (Dollars in thousands) 2023 2022 2021 Amortized cost of debt securities sold (1) $ 87,198 $ 71,593 $ 2,931 Gross realized gains on sales — 1,061 128 Gross realized losses on sales (2,419) (3,034) — Total proceeds from sales of debt securities $ 84,779 $ 69,620 $ 3,059 __________________________________________ (1) Amortized cost of investments sold is determined on a specific identification basis and includes pending trades based on trade date, if applicable. Tax-exempt interest earned on the municipal securities portfolio amounted to $2.6 million for the year ended December 31, 2023, compared to $3.4 million for each of the years ended December 31, 2022 and 2021. The average balance of tax-exempt investments was $64.1 million and $86.0 million for the years ended December 31, 2023 and December 31, 2022, respectively. Equity Securities At December 31, 2023, the Company held equity securities with a fair value of $7.1 million, which consisted of $4.4 million in management directed investments and $2.7 million in mutual funds held in conjunction with the Company's supplemental executive retirement and deferred compensation plan. At December 31, 2022, the Company held equity securities with a fair value of $4.3 million, which consisted of $2.9 million in management directed investments and $1.4 million in mutual funds held in conjunction with the Company's supplemental executive retirement and deferred compensation plan. Gains and losses on equity securities for the years ended December 31, 2023 and 2022 are summarized as follows: (Dollars in thousands) 2023 2022 Net gains (losses) recognized during the period on equity securities $ 666 $ (514) Less: Net losses realized on equity securities sold during the period (5) (17) Unrealized gains (losses) recognized during the reporting period on equity securities still held at the end of the period $ 671 $ (497)

Loans

Loans	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Loans	Loans Loan Portfolio Classifications Major classifications of loans at amortized cost at the periods indicated were as follows: (Dollars in thousands) December 31, 2023 December 31, 2022 Commercial real estate $ 2,064,737 $ 1,921,410 Commercial and industrial 430,749 414,490 Commercial construction 585,113 424,049 Total commercial loans 3,080,599 2,759,949 Residential mortgages 393,142 332,632 Home equity 85,375 79,807 Consumer 8,515 8,130 Total retail loans 487,032 420,569 Total loans 3,567,631 3,180,518 Allowance for credit losses (58,995) (52,640) Net loans $ 3,508,636 $ 3,127,878 Net deferred loan origination fees, included in the amortized costs of loans reflected in the table above, amounted to $5.4 million at December 31, 2023 and $5.2 million at December 31, 2022. Accrued interest receivable on loans amounted to $16.1 million and $13.1 million at December 31, 2023 and December 31, 2022, respectively, and was included in the " Accrued interest receivable 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 $126.6 million at December 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. Related Party Loans As of December 31, 2023 and 2022 , the outstanding loan balances to directors, officers, principal shareholders, and their associates were $31.4 million and $33.5 million, respectively. All loans to these related parties were current and accruing as of those dates. Unadvanced portions of lines of credit available to these individuals were $35.7 million and $12.5 million, as of December 31, 2023 and 2022, respectively. During 2023, new loans and net increases in loan balances or lines of credit under existing commitments of $1.5 million were made and principal pay-downs of $19.7 million were received. During 2022, new loans and net increases in loan balances or lines of credit under existing commitments of $5.2 million were made and principal pay-downs of $11.4 million were received. Loans serviced for others At December 31, 2023 and 2022, the Company was servicing residential mortgage loans owned by investors amounting to $7.7 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 $69.8 million and $59.1 million at December 31, 2023 and 2022, respectively. Loans serving as collateral Loans designated as qualified collateral and pledged to the FHLB for borrowing capacity for the periods indicated are summarized below: (Dollars in thousands) December 31, 2023 December 31, 2022 Commercial real estate $ 495,831 $ 113,830 Residential mortgages 369,062 309,023 Home equity 35,540 39,724 Total loans pledged to FHLB $ 900,433 $ 462,577 Tax-Exempt Interest Tax-exempt interest earned on qualified commercial loans was $2.0 million for the year ended December 31, 2023, $1.7 million for the year ended December 31, 2022 and $1.8 million for the year ended December 31, 2021. Average tax-exempt loan balances were $47.0 million and $63.9 million for the years ended December 31, 2023 and 2022, respectively.

Credit Risk Management and ACL

Credit Risk Management and ACL for Loans	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Credit Risk Management and ACL for Loans	Credit Risk Management and ACL for Loans See item (h) "Credit Risk Management and ACL for Loans Methodology" contained in Note 1, "Summary of Significant Accounting Policies" of this Form 10-K, for additional information on the Company's loan accounting policies, Credit Risk monitoring, and ACL methodology. 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 December 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 $ 215,679 $ 371,606 $ 367,011 $ 201,621 $ 217,055 $ 641,034 $ 12,130 $ 107 $ 2,026,243 Special mention 31 15,782 — — 489 9,948 — — 26,250 Substandard — 1,311 631 — 969 8,883 — 450 12,244 Total commercial real estate 215,710 388,699 367,642 201,621 218,513 659,865 12,130 557 2,064,737 Current period charge-offs — — — — — — — — — Commercial and industrial Pass 73,608 51,990 45,278 24,778 23,724 44,609 156,465 3,402 423,854 Special mention — — — 70 215 201 2,227 223 2,936 Substandard — — 18 — 1 209 316 3,415 3,959 Total commercial and industrial 73,608 51,990 45,296 24,848 23,940 45,019 159,008 7,040 430,749 Current period charge-offs 15 248 — — 67 266 — — 596 Commercial construction Pass 192,462 164,313 143,203 22,017 16,247 10,532 27,261 — 576,035 Special mention — 7,905 — — 1,173 — — — 9,078 Total commercial construction 192,462 172,218 143,203 22,017 17,420 10,532 27,261 — 585,113 Current period charge-offs — — — — — — — — — Residential mortgages Pass 82,848 107,222 69,979 46,674 19,205 65,311 — — 391,239 Special mention — — — — — 109 — — 109 Substandard — — 236 — 1,055 503 — — 1,794 Total residential mortgages 82,848 107,222 70,215 46,674 20,260 65,923 — — 393,142 Current period charge-offs — — — — — — — — — Home equity Pass 1,203 775 561 444 317 1,738 79,421 636 85,095 Substandard — — — — — 72 — 208 280 Total home equity 1,203 775 561 444 317 1,810 79,421 844 85,375 Current period charge-offs — — — — — — — — — Consumer Pass 3,705 1,652 1,371 722 623 442 — — 8,515 Total consumer 3,705 1,652 1,371 722 623 442 — — 8,515 Current period charge-offs 35 — — — — 1 — — 36 Total loans $ 569,536 $ 722,556 $ 628,288 $ 296,326 $ 281,073 $ 783,591 $ 277,820 $ 8,441 $ 3,567,631 Total current period charge-offs $ 50 $ 248 $ — $ — $ 67 $ 267 $ — $ — $ 632 Balance at December 31, 2022 Term Loans by Origination Year (Dollars in thousands) 2022 2021 2020 2019 2018 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 $56.7 million, or 1.59% of total loans, at December 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 December 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 $ 1,181 $ 774 $ 1,334 $ 3,289 $ 2,061,448 $ 2,064,737 Commercial and industrial 660 64 — 724 430,025 430,749 Commercial construction — — — — 585,113 585,113 Residential mortgages 1,265 — 1,277 2,542 390,600 393,142 Home equity 53 — 97 150 85,225 85,375 Consumer 25 2 — 27 8,488 8,515 Total loans $ 3,184 $ 840 $ 2,708 $ 6,732 $ 3,560,899 $ 3,567,631 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 table above include loans designated as non-accrual despite their payment due status. At December 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 December 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 $ 5,369 $ 4,400 $ 969 $ 229 Commercial and industrial 4,262 736 3,526 2,658 Commercial construction — — — — Residential mortgages 1,526 1,526 — — Home equity 257 257 — — Consumer — — — — Total loans $ 11,414 $ 6,919 $ 4,495 $ 2,887 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 0.32% and 0.19% at December 31, 2023 and December 31, 2022, respectively. At December 31, 2023 and December 31, 2022, additional funding commitments for non-accrual loans were not material. The reduction in interest income for the years ended December 31, associated with non-accruing loans is summarized as follows: (Dollars in thousands) 2023 2022 2021 Income that would have been recognized if non-accrual loans had been on accrual $ 1,285 $ 1,083 $ 2,028 Less income recognized 191 1,050 633 Reduction in interest income $ 1,094 $ 33 $ 1,395 Collateral dependent loans The total recorded investment in collateral dependent loans amounted to $13.7 million at December 31, 2023 compared to $25.2 million at December 31, 2022. Total accruing collateral dependent loans amounted to $2.4 million, while non-accrual collateral dependent loans amounted to $11.3 million as of December 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. Loans that have been individually evaluated and repayment is expected substantially from the operations or ultimate sale of the underlying collateral are deemed to be collateral dependent loans. Collateral dependent loans are adversely classified loans. These loans may be accruing or on non-accrual status. Collateral dependent loans are carried at the lower of the recorded investment in the loan or the estimated fair value. Underlying collateral will vary by type of loan, as discussed below. Commercial real estate loans include loans secured by both owner and non-owner occupied (investor) real estate. These loans are typically secured by a variety of commercial, residential investment, and industrial property types, including one-to-four and multi-family apartment buildings, office, industrial, or mixed-use facilities, strip shopping centers, or other commercial properties. Commercial and industrial credits may be unsecured loans and lines to financially strong borrowers, loans secured in whole or in part by real estate unrelated to the principal purpose of the loan or secured by inventories, equipment, or receivables. Commercial construction loans include the development of residential housing and condominium projects, the development of commercial and industrial use property, and loans for the purchase and improvement of raw land. These loans are secured in whole or in part by underlying real estate collateral. Residential mortgage loans and home equity lines may be secured by one-to-four family residential properties serving as the borrower's primary residence, or as vacation homes or investment properties. Consumer loans consist primarily of secured or unsecured personal loans, loans under energy efficiency financing programs in conjunction with Massachusetts public utilities, and overdraft protection lines on checking accounts. Management does not set any minimum delay of payments as a factor in reviewing for individual evaluation. Management considers the individual payment status, net worth and earnings potential of the borrower, and the value and cash flow of the collateral as factors to determine if a loan will be paid in accordance with its contractual terms. The following tables present the recorded investment in collateral dependent individually evaluated loans and the related specific allowance by portfolio allocation as of the dates indicated: Balance at December 31, 2023 (Dollars in thousands) Unpaid Total Recorded Recorded Recorded Related Specific Commercial real estate $ 8,703 $ 7,148 $ 6,180 $ 968 $ 229 Commercial and industrial 6,804 4,332 950 3,382 2,526 Commercial construction — — — — — Residential mortgages 2,117 1,902 1,902 — — Home equity 359 281 281 — — Consumer — — — — — Total $ 17,983 $ 13,663 $ 9,313 $ 4,350 $ 2,755 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 The Company's obligation to fulfill the additional funding commitments on individually evaluated loans is generally contingent on the borrower's compliance with the terms of the credit agreement. If the borrower is not in compliance, additional funding commitments may or may not be made at the Company's discretion. At December 31, 2023 and December 31, 2022, additional funding commitments for individually evaluated collateral dependent loans were not material. Loan modifications to borrowers experiencing financial difficulty 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: Twelve months ended December 31, 2023 (Dollars in thousands) Payment Deferrals % of Loan Class Total Commercial real estate $ 270 0.01 % Commercial and industrial 177 0.04 % Residential mortgages 31 0.01 % Total $ 478 0.01 % The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the period indicated: Twelve months ended December 31, 2023 Weighted Average Payment Deferrals Commercial real estate 0.5 years Commercial and industrial 0.5 years Residential mortgages 0.5 years The Company closely monitors the performance of loans that are modified for 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 December 31, 2023 (Dollars in thousands) Current 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Commercial real estate $ — $ — $ 270 $ — $ 270 Commercial and industrial 143 — 34 — 34 Commercial construction — — — — — Residential mortgages 31 — — — — Home equity — — — — — Consumer — — — — — Total $ 174 $ — $ 304 $ — $ 304 During the year ended December 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 December 31, 2023, additional funding commitments to borrowers experiencing financial difficulty who were party to a loan modification were immaterial. Prior Period TDR 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 Form 10-K. Total TDR loans amounted to $8.4 million at December 31, 2022. At December 31, 2022, TDR loans on accrual status amounted to $6.0 million, and TDR loans included in non-accrual loans amounted to $2.4 million. The Company continues to work with customers and enters into loan modifications (which may or may not be TDRs) 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. At December 31, 2022, additional funding commitments for TDR loans were not material. The Company's obligation to fulfill the additional funding commitments on TDR loans is generally contingent on the borrower's compliance with the terms of the credit agreement. If the borrower is not in compliance, additional funding commitments may or may not be made at the Company's discretion. The following table presents the number and balance of loans modified as TDRs, by portfolio classification, during the periods indicated: December 31, 2022 (Dollars in thousands) Number of Restructurings Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Commercial real estate 6 $ 3,342 $ 2,563 Commercial and industrial 2 225 246 Total 8 $ 3,567 $ 2,809 There were no subsequent charge-offs of new TDRs noted in the table above during the year ended December 31, 2022. Interest payments received on non-accruing 2022 TDR loans which were applied to principal and not recognized as interest income were not material. Payment defaults by portfolio classification, during the year indicated, on loans modified as TDRs within the preceding twelve months are detailed below: December 31, 2022 (Dollars in thousands) Number of TDRs that Defaulted Post-modification Outstanding Recorded Investment Commercial real estate 3 $ 1,044 Total 3 $ 1,044 The following table sets forth the post modification balances of TDRs listed by type of modification for TDRs that occurred during the period indicated: December 31, 2022 (Dollars in thousands) Number of Restructurings Amount Temporary interest-only payment plan 3 $ 138 Other payment concessions 5 2,671 Total 8 $ 2,809 Allowance for credit losses associated with TDR loans listed above $ 298 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 years ended December 31 as indicated: (Dollars in thousands) 2023 2022 2021 Provision for credit losses on loans $ 6,460 $ 5,175 $ 543 Provision for unfunded commitments 2,789 625 1,227 Total provision for credit losses $ 9,249 $ 5,800 $ 1,770 The ACL for loans amounted to $59.0 million and $52.6 million at December 31, 2023 and December 31, 2022, respectively. The ACL for loans to total loans ratio was 1.65% and 1.66% at December 31, 2023 and December 31, 2022, respectively. Changes in the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: (Dollars in thousands) 2023 2022 2021 Balance at beginning of year $ 52,640 $ 47,704 $ 44,565 CECL adjustment upon adoption — — 6,560 Provision 6,460 5,175 543 Recoveries 527 272 363 Less: Charge-offs 632 511 4,327 Balance at end of year $ 58,995 $ 52,640 $ 47,704 The following tables present changes in the ACL for loans by portfolio classification, during the periods presented below: (Dollars in thousands) Commercial Real Estate Commercial and Industrial Commercial Construction Residential Mortgage Home Equity Consumer Total Beginning Balance at December 31, 2022 $ 36,564 $ 8,896 $ 3,961 $ 2,255 $ 633 $ 331 $ 52,640 Provision for credit losses for loans 1,510 2,292 2,825 (103) (66) 2 6,460 Recoveries — 497 1 — 12 17 527 Less: Charge-offs — 596 — — — 36 632 Ending Balance at December 31, 2023 $ 38,074 $ 11,089 $ 6,787 $ 2,152 $ 579 $ 314 $ 58,995 (Dollars in thousands) Commercial Real Estate Commercial and Industrial Commercial Construction Residential Mortgage Home Equity Consumer Total Beginning Balance at December 31, 2021 $ 31,847 $ 9,574 $ 4,090 $ 1,405 $ 465 $ 323 $ 47,704 Provision for credit losses for loans 4,967 (710) (129) 850 157 40 5,175 Recoveries — 242 — — 11 19 272 Less: Charge-offs 250 210 — — — 51 511 Ending Balance at December 31, 2022 $ 36,564 $ 8,896 $ 3,961 $ 2,255 $ 633 $ 331 $ 52,640 Reserve for unfunded commitments The Company’s reserve for unfunded commitments amounted to $7.1 million as of December 31, 2023 and $4.3 million at December 31, 2022. Other real estate owned The Company carried no OREO at December 31, 2023 or December 31, 2022. During the years ended December 31, 2023, and 2022, there were no additions to or sales of OREO. During the year ended December 31, 2021, there was one addition to OREO, which was subsequently sold in the same year. For the years ended December 31, 2023, 2022 and 2021, there were no write-downs of OREO. At December 31, 2023, the Company had $1.2 million in 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. The Company had no such loans at December 31, 2022.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Premises and Equipment	Premises and Equipment Premises and equipment at December 31, 2023, and 2022, are summarized as follows: (Dollars in thousands) 2023 2022 Land and land improvements $ 9,090 $ 9,090 Bank premises and leasehold improvements 57,899 56,266 Computer software and equipment 18,636 15,636 Furniture, fixtures, and equipment 26,362 25,118 Total premises and equipment, before accumulated depreciation 111,987 106,110 Less accumulated depreciation (67,056) (61,882) Total premises and equipment, net of accumulated depreciation $ 44,931 $ 44,228 Total depreciation expense related to premises and equipment amounted to $5.3 million for both of the years ended December 31, 2023, 2022, and $6.2 million for the year ended December 31, 2021.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases For the Company, material leases consist of operating leases on our facilities, mainly branch leases; leases 12-months or less and immaterial equipment leases have been excluded. As of December 31, 2023, the Company had 16 active operating real estate leases. The Company's leased facilities are 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. While the Company typically exercises its option to extend lease terms, the lease contains provisions that allow the Company, upon notification, to terminate the lease at the end of the lease term, or any option period. Several real estate leases also provide the Company the right of first refusal should the property be offered for sale. Lease expenses for the years ended December 31, 2023, and 2022 amounted to $1.6 million, respectively, and $1.5 million for the year ended December 31, 2021. Variable lease costs and short-term lease expenses included in lease expense during this period were immaterial. The weighted average remaining lease term for operating leases at December 31, 2023 and 2022 was 28.4 years and 29.4 years, respectively. The weighted average discount rate was 3.55% and 3.51% at December 31, 2023 and 2022, respectively. At December 31, 2023, the remaining undiscounted cash flows by year of these lease liabilities were as follows: (Dollars in thousands) Operating Leases 2024 $ 1,450 2025 1,457 2026 1,468 2027 1,474 2028 1,477 Thereafter 31,723 Total lease payments $ 39,049 Less: Imputed interest 14,608 Total lease liability $ 24,441

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Deposits:
Deposits	Deposits Deposits at December 31, are summarized as follows: (Dollars in thousands) 2023 2022 Non-interest checking $ 1,070,104 $ 1,361,588 Interest-bearing checking 697,632 678,715 Savings 285,770 326,666 Money market 1,402,939 1,381,645 CDs $250,000 or less 295,789 187,758 CDs greater than $250,000 225,287 99,434 Deposits $ 3,977,521 $ 4,035,806 All of the Company's deposits outstanding, at both December 31, 2023 and 2022, were customer deposits, and the Company had no brokered deposits at either December 31, 2023 or 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 third-party enhanced 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 $835.0 million and $589.7 million at December 31, 2023 and December 31, 2022, respectively. The aggregate amounts of overdrawn deposits that have been reclassified as loan balances were $498 thousand and $490 thousand at December 31, 2023 and 2022, respectively. The following table presents the scheduled maturities of CDs as of December 31, of the years indicated: (Dollars in thousands) 2023 2022 Due in less than twelve months $ 494,320 $ 227,658 Due in over one year through two years 23,737 51,392 Due in over two years through three years 2,431 6,919 Due in over three years through four years 371 400 Due in over four years through five years 179 619 Due in over five years 38 204 Total CDs $ 521,076 $ 287,192

Borrowed Funds and Subordinated

Borrowed Funds and Subordinated Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Borrowed Funds and Subordinated Debt	Borrowed Funds and Subordinated Debt Borrowed funds and subordinated debt outstanding at December 31, for the years indicated are summarized as follows: 2023 2022 2021 (Dollars in thousands) Amount Average Amount Average Amount Average FHLB advances $ 2,830 1.71 % $ 2,913 1.71 % $ 5,479 1.07 % FRB advances 20,000 4.84 % — — % — — % Other borrowings 2,938 0.40 % 303 — % — — % Total borrowed funds $ 25,768 3.99 % $ 3,216 1.55 % $ 5,479 1.07 % Subordinated debt $ 59,498 5.84 % $ 59,182 5.66 % $ 58,979 5.54 % The Company's borrowed funds at December 31, 2023, 2022 and 2021 were comprised of overnight or short-term advances from the FRB through the BTFP, term advances related to specific lending projects under the FHLB's community development and affordable housing programs as well as borrowed funds from the NH BFA borrowing under a New Hampshire community development program. NH BFA advances are categorized as "Other borrowings" in the tables below. At December 31, 2023, 2022 and 2021, the contractual maturity distribution of borrowed funds with the weighted average cost for each category is set forth below: 2023 2022 2021 (Dollars in thousands) Balance Rate Balance Rate Balance Rate Within 12 months $ 20,000 4.84 % $ — — % $ 2,485 0.29 % Between 1 and 5 years 270 — % — — % — — % Over 5 years 5,498 1.09 % 3,216 1.55 % 2,994 1.70 % Maximum FHLB and other borrowings outstanding at any month-end period during 2023 was $25.8 million, $4.2 million for 2022 and $8.6 million for 2021. The following table summarizes the average balance and average cost of borrowed funds for the years indicated: Year ended December 31, 2023 2022 2021 (Dollars in thousands) Average Average Average Average Average Average FHLB advances $ 3,548 2.65 % $ 3,266 1.59 % $ 7,632 0.79 % FRB advances 534 3.39 % — — % — — % Other borrowings 1,008 0.13 % 20 — % — — % Total borrowed funds $ 5,090 2.23 % $ 3,286 1.58 % $ 7,632 0.79 % As a member of the FHLB, the Bank has the potential capacity to borrow an amount up to the value of its discounted qualified collateral. Borrowings from the FHLB are secured by certain securities from the Company's investment portfolio not otherwise pledged and certain residential and commercial real estate loans. At December 31, 2023, based on qualifying collateral less outstanding advances, the Bank had the capacity to borrow additional funds from the FHLB of up to approximately $860.0 million. In addition, based on qualifying corporate and municipal bond collateral, the Bank had the capacity to borrow funds from the FRB up to approximately $320.0 million at December 31, 2023. The Bank also has pre-approved borrowing arrangements with large correspondent banks to provide overnight and short-term borrowing capacity. The Company had outstanding subordinated debt, net of deferred issuance costs, of $59.5 million, and $59.2 million at December 31, 2023, and December 31, 2022, respectively. The debt consists of fixed-to-floating rate notes due in 2030 and callable at the Company's option on or after July 15, 2025. The subordinated notes are intended to qualify as Tier 2 capital for regulatory purposes. The subordinated notes pay interest at a fixed rate of 5.25% per annum through July 15, 2025, after which floating quarterly rates apply. Original debt issuance costs were $1.2 million and have been netted against the subordinated debt on the consolidated balance sheet in accordance with accounting guidance. These costs are being amortized to interest expense over the life of the subordinated notes.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The tables below present a summary of the Company's derivative financial instruments, notional amounts and fair values for the periods presented: As of December 31, 2023 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1)(2) Liability Notional Amount Liability Derivatives (1)(2) Derivatives designated as hedging instruments Interest-rate contracts - pay fixed, receive floating $ — $ — $ 100,000 $ 760 Total cash flow hedge interest-rate swaps $ — $ — $ 100,000 $ 760 Derivatives not subject to hedge accounting Interest-rate contracts - pay floating, receive fixed $ — $ — $ 7,524 $ 630 Interest-rate contracts - pay fixed, receive floating 7,524 630 — — Risk participation agreements sold — — 46,910 65 Total derivatives not subject to hedge accounting $ 7,524 $ 630 $ 54,434 $ 695 As of December 31, 2022 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1)(2) Liability Notional Amount Liability Derivatives (1)(2) 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. (2) The assets and liabilities related to the pay fixed, receive floating interest-rate contracts are subject to a master netting agreement and are presented net in the Consolidated Balance Sheet. Derivatives designated as hedging instruments Fair value hedges Derivatives designated as fair value hedges are utilized to mitigate the risk of adverse interest-rate fluctuations on specifically identified assets or liabilities. The Company's fair value hedges are used to manage its exposure to changes in the fair value of hedged items caused by changes in interest rates. During the year ended December 31, 2023, the Company entered into three pay fixed, receive float, interest rate swap agreements all with a 2-year term. As of December 31, 2023, these interest rate swap agreements had a combined notional value of $100.0 million. Each interest rate swap agreement was designated as a fair value hedge and involves the net settlement of receiving floating-rate payments from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The table below presents the carrying amount of hedged items and cumulative fair value hedging basis adjustments for the periods presented. There were no fair value hedges outstanding at December 31, 2022. As of December 31, 2023 (Dollars in thousands) Balance Sheet Location of Hedged Item Carrying Amount of Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Interest-rate contracts - loans Loans $ 100,755 $ 755 The table below presents the gains (losses) from interest rate derivatives accounted for as fair value hedges and the related hedged items. (Dollars in thousands) Affected Income Statement Line Item December 31, 2023 Derivatives designated as fair value hedges: Fair value adjustments on derivatives Net interest income $ (760) Fair value adjustments on hedged instrument Net interest income 755 Total $ (5) Derivatives not subject to hedge accounting Interest-rate Contracts The Company has a "Back-to-Back Swap" program whereby the Bank enters into an interest-rate swap with qualified commercial banking customers and simultaneously enters into equal and opposite interest-rate swap with a swap counterparty. The customer interest-rate swap agreement allows commercial banking customers to convert a floating-rate loan payment to a fixed-rate payment. Each Back-to-Back 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 December 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 years ended December 31, 2023, 2022, or 2021. Interest-rate swaps with the counterparty are subject to master netting agreements, while interest-rate swaps with customers are not. At December 31, 2023, all the back-to-back swaps with the counterparty were in asset positions and at December 31, 2022, all the back-to-back swaps with the counterparty were in liability 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 RPAs 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 RPAs and the customers' loan are secured by the same collateral. Credit Risk By using derivative financial instruments, the Company exposes itself to counterparty credit risk. Credit risk is the risk of failure by the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes the Company, which creates credit risk for the Company. When the fair value of a derivative is negative, the Company owes the counterparty and, therefore, it does not possess credit risk. The credit risk in derivative instruments is mitigated by entering into transactions with highly rated counterparties that management believes to be creditworthy. Additionally, counterparty interest-rate swaps contain provisions for collateral to be posted if the derivative exposure exceeds a threshold amount. The Company had two active interest-rate swap institutional counterparties which were rated A and A+ by S&P Global Ratings, respectively, and both of which were rated A2 by Moody's Investor Services at December 31, 2023. When the Company has credit risk exposure, cash 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. The Company has minimum collateral posting thresholds with certain of its derivative counterparties and as of December 31, 2023, the Company had no credit risk exposure relating to interest-rate swaps with counterparties compared to $782 thousand in credit risk exposure at December 31, 2022. At December 31, 2023, cash collateral posted by the Company amounted to $570 thousand while counterparties posted cash collateral of $590 thousand. At December 31, 2022, the Company posted no collateral in connection with these agreements while counterparties posted cash collateral of $27 thousand. Credit-risk-related Contingent Features The Company's interest-rate swaps with counterparties contain credit-risk-related contingent provisions. These provisions provide the counterparty with the right to terminate its derivative positions and require the Company to settle its obligations under the agreements if the Company defaults on certain of its indebtedness. As of December 31, 2023, the fair value of derivatives related to these agreements was at a net liability position of $130 thousand, which excludes any adjustment for nonperformance risk. Other Derivative Related Activity

Commitments, Contingencies and

Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk	Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk The Company is party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of its customers. These financial instruments include commitments to originate loans, letters of credit, and unadvanced portions of loans and lines of credit. The instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the Consolidated Balance Sheets. The contractual amounts of these instruments reflect the extent of involvement the Company has in the particular classes of financial instruments. The Company's exposure to credit loss in the event of nonperformance by the other party to the financial instrument for loan commitments and letters of credit is represented by the contractual amounts of those instruments. The Company uses the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. Financial instruments with off-balance sheet credit risk at December 31, 2023 and 2022 are as follows: (Dollars in thousands) 2023 2022 Commitments to originate loans $ 41,326 $ 27,148 Commitments to originate residential mortgages loans for sale — 170 Commitments to sell residential mortgage loans 200 170 Letters of credit 15,610 25,081 Unadvanced portions of commercial real estate loans 87,943 43,938 Unadvanced portions of commercial loans and lines 633,702 629,531 Unadvanced portions of construction loans (commercial & residential) 540,269 409,803 Unadvanced portions of home equity lines 156,216 146,558 Unadvanced portions of consumer loans 3,679 4,059 Commitments to originate loans are agreements to lend to a customer provided there is no violation of any condition established in the contract. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee by the customer. Since some of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. The Company evaluates each customer's credit worthiness on a case-by-case basis. The amount of collateral obtained, if deemed necessary by the Company upon extension of credit, is based on management’s credit evaluation of the borrower. The Company originates residential mortgage loans intended for sale under agreements to sell such loans on an individual loan basis and may retain or sell the servicing when selling the loans. Loans sold are subject to standard secondary market underwriting and eligibility representations and warranties over the life of the loan and are subject to an early payment default period covering the first four payments for certain loan sales. Letters of credit are conditional commitments issued by the Company to guarantee the financial obligation or performance of a customer to a third-party. The credit risk involved in issuing letters of credit is essentially the same as that involved in extending loan facilities to customers. If the letter of credit is drawn upon, a loan is created for the customer, generally a commercial loan, with the same criteria associated with similar commercial loans. Unadvanced portions of loans and lines of credit represent credit extended to customers but not yet drawn upon and are secured or guaranteed under preexisting loan agreements and credit evaluations having taken into consideration the full commitment amount. See also Note 9, "Derivatives and Hedging Activities," and Note 1, "Summary of Significant Accounting Policies," under Item (p), "Derivatives," to the Company's consolidated financial statements of this Form 10-K, contained above, for information on the Company's interest-rate lock commitments, interest-rate swaps, and participation in loans originated by third-party banks with potential contingent liabilities. There are no material pending legal proceedings to which the Company or its subsidiaries are a party or to which any of its property is subject, other than ordinary and routine litigation incidental to the business of the Company. Management does not believe resolution of any present litigation will have a material adverse effect on the consolidated financial condition or results of operations of the Company.

Comprehensive Income (Loss)

Comprehensive Income (Loss)	12 Months Ended
	Dec. 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): Year ended December 31, 2023 Year ended December 31, 2022 (Dollars in thousands) Pre-Tax Tax (Expense) Benefit After Tax Amount Pre-Tax Tax Benefit After Tax Amount Change in fair value of debt securities $ 18,838 $ (4,279) $ 14,559 $ (132,005) $ 29,782 $ (102,223) Less: net security (losses) gains reclassified into non-interest income (2,419) 534 (1,885) (1,973) 619 (1,354) Net change in fair value of debt securities 21,257 (4,813) 16,444 (130,032) 29,163 (100,869) Total other comprehensive income (loss), net $ 21,257 $ (4,813) $ 16,444 $ (130,032) $ 29,163 $ (100,869) Information on the Company's accumulated other comprehensive loss, net of tax, is comprised of the following components as of the periods indicated: Year ended December 31, 2023 Year ended December 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 income (loss), net 16,444 16,444 (100,869) (100,869) Accumulated other comprehensive loss - ending balance $ (79,763) $ (79,763) $ (96,207) $ (96,207)

Shareholders' Equity

Shareholders' Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Shareholders' Equity	Shareholders' Equity Shares Authorized and Share Issuance The Company's authorized capital is divided into common stock and preferred stock. The Company is authorized to issue 40,000,000 shares of common stock, with a par value of $0.01 per share, and as of December 31, 2023 had 12,272,674 shares issued and outstanding. Holders of common stock are entitled to one vote per share and are entitled to receive dividends if, as and when declared by the Board. Dividend and liquidation rights of the common stock may be subject to the rights of any outstanding preferred stock. The Company is also authorized to issue 1,000,000 shares of preferred stock, with a par value of $0.01 per share. No preferred stock has been issued as of the date of this Form 10-K. The Company has a shareholders' rights plan. Under the plan, each share of common stock includes a right to purchase under certain circumstances one one-hundredth of a share of the Company's Series A Junior Participating Preferred Stock, par value $0.01 per share, at a purchase price of $122.50 per one one-hundredth of a preferred share, subject to adjustment, or, in certain circumstances, to receive cash, property, shares of common stock or other securities of the Company. The rights are not presently exercisable and remain attached to the shares of common stock until the occurrence of certain triggering events that would ordinarily be associated with an unsolicited acquisition or attempted acquisition of 10% or more of the Company's outstanding shares of common stock. The rights have no voting or dividend privileges, and unless and until they become exercisable, have no dilutive effect on the earnings of the Company. The rights will expire, unless earlier redeemed, exchanged, or otherwise rescinded by the Company, on January 13, 2028. The Company's stock incentive plans permit the Board to grant, under various terms, stock options (for the purchase of newly issued shares of common stock), common stock, restricted stock awards, restricted stock units and stock appreciation rights to officers and other employees, non-employee directors and consultants. See Note 14, "Stock-Based Compensation," to the Company's consolidated financial statements of this Form 10-K, contained below, for additional information regarding the Company's stock incentive plans. Capital Raised and Capital Adequacy Requirements Capital planning by the Company and the Bank considers current needs and anticipated future growth. Ongoing sources of capital include the retention of earnings, less dividends paid, proceeds from the exercise of employee stock options and proceeds from purchases of shares pursuant to the DRSPP. Additional sources of capital for the Company and the Bank have been proceeds from the issuance of common stock and proceeds from the issuance of subordinated debt. The Company believes its current capital is adequate to support ongoing operations. Management believes, as of December 31, 2023, that the Company and the Bank met all capital adequacy requirements to which they were subject. As of December 31, 2023 and December 31, 2022, the Company met the definition of "well-capitalized" under the applicable Federal Reserve Board regulations and the Bank qualified as "well-capitalized" under the prompt corrective action regulations of Basel III and the FDIC. The Company's and the Bank's actual capital amounts and ratios are presented as of December 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 December 31, 2023 The Company Total Capital to risk-weighted assets $ 511,692 13.12 % $ 312,035 8.00 % N/A N/A Tier 1 Capital to risk-weighted assets 403,224 10.34 % 234,026 6.00 % N/A N/A Tier 1 Capital to average assets (or Leverage Ratio) 403,224 8.74 % 184,471 4.00 % N/A N/A Common Equity Tier 1 Capital to risk-weighted assets 403,224 10.34 % 175,520 4.50 % N/A N/A The Bank Total Capital to risk-weighted assets $ 510,645 13.09 % $ 312,035 8.00 % $ 390,044 10.00 % Tier 1 Capital to risk-weighted assets 461,675 11.84 % 234,026 6.00 % 312,035 8.00 % Tier 1 Capital to average assets (or Leverage Ratio) 461,675 10.01 % 184,471 4.00 % 230,589 5.00 % Common Equity Tier 1 Capital to risk-weighted assets 461,675 11.84 % 175,520 4.50 % 253,528 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 risk-weighted assets $ 476,307 13.49 % $ 282,567 8.00 % N/A N/A Tier 1 Capital to risk-weighted assets 372,817 10.56 % 211,926 6.00 % N/A N/A Tier 1 Capital to average assets (or Leverage Ratio) 372,817 8.10 % 184,194 4.00 % N/A N/A Common Equity Tier 1 Capital to risk-weighted assets 372,817 10.56 % 158,944 4.50 % N/A N/A The Bank Total Capital to risk-weighted assets $ 475,668 13.47 % $ 282,567 8.00 % $ 353,209 10.00 % Tier 1 Capital to risk-weighted assets 431,359 12.21 % 211,926 6.00 % 282,567 8.00 % Tier 1 Capital to average assets (or Leverage Ratio) 431,359 9.37 % 184,194 4.00 % 230,243 5.00 % Common Equity Tier 1 Capital to risk-weighted assets 431,359 12.21 % 158,944 4.50 % 229,586 6.50 % __________________________________________ (1) Before application of the capital conservation buffer of 2.50%. 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. The Company is subject to the Basel III capital ratio requirements, which include a "capital conservation buffer" of 2.50% above the regulatory minimum risk-based capital adequacy requirements shown above. If a banking organization dips into its capital conservation buffer it may be restricted in its activities, including its ability to pay dividends and discretionary bonus payments to its executive officers. Both the Company's and the Bank's actual ratios, as outlined in the table above, exceeded the Basel III risk-based capital requirement with the capital conservation buffer as of December 31, 2023. The Basel III minimum capital ratio requirements as applicable to the Company and the Bank with the capital conservation buffer are summarized in the table below: Basel III Minimum for Capital Adequacy Purposes Basel III Additional Capital Conservation Buffer Basel III "Adequate" Ratio with Capital Conservation Buffer Total Capital to RWA 8.00% 2.50% 10.50% Tier 1 Capital to RWA 6.00% 2.50% 8.50% Tier 1 Capital to AA, or Leverage Ratio 4.00% N/A 4.00% Common equity tier 1 capital to RWA 4.50% 2.50% 7.00% Failure to meet minimum capital requirements can initiate or result in certain mandatory and possibly additional discretionary supervisory actions by regulators that, if undertaken, could have a material adverse effect on the Company's consolidated financial statements. Under applicable capital adequacy requirements and the regulatory framework for prompt corrective action applicable to the Bank, the Company must meet specific capital guidelines that involve quantitative measures of the Company's assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company's capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. See also "Supervision and Regulation," contained in Item 1, "Business," of this Form 10-K for further information on the Company's Basel III and capital requirements. Dividends For the year ended December 31, 2023, the Company declared $11.2 million in cash dividends and shareholders utilized the dividend reinvestment portion of the DRSPP to purchase an aggregate of 50,443 shares of the Company's common stock totaling $1.5 million. During the year ended December 31, 2022, the Company declared $9.9 million in cash dividends and shareholders utilized the dividend reinvestment portion of the DRSPP to purchase 40,640 shares of the Company's common stock totaling $1.4 million. In 2021, the Company declared $8.9 million in cash dividends and shareholders utilized the dividend reinvestment portion of the DRSPP to purchase 36,651 shares of the Company's common stock totaling $1.3 million. See "Shares Authorized and Share Issuance" above in this Note 12 of this Form 10-K for more information on the DRSPP, including the direct stock purchase component of the plan.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans Defined Contribution Plans The Company has a 401(k) defined contribution employee benefit plan. The 401(k) plan allows eligible employees to contribute a percentage of their earnings to the plan. A portion of an employee's contribution, as determined by the Compensation and Human Resources Committee of the Board of Directors, is matched by the Company. During the years ended December 31, 2023, 2022 and 2021 the Company's percentage match was 70% up to the first 6% contributed by the employee. All eligible employees, at least 18 years of age and completing 1 hour of service, may participate in the 401(k) plan. Vesting for the Company's 401(k) retirement plan matching contribution is based on years of service with participants becoming 25% vested on the anniversary of their hire date and each subsequent year until they are 100% vested following four years of service. Unvested amounts not distributed to an employee following termination of employment are used to offset plan expenses and the Company's matching contributions. The Company's expense for the 401(k) plan match was $2.1 million, $1.9 million, and $1.7 million, respectively, for the years ended December 31, 2023, 2022 and 2021, respectively. Additionally, the Company maintains the Enterprise Bank Supplemental Executive Retirement and Deferred Compensation Plan. The plan is unfunded and is maintained for the purpose of providing deferred compensation to a certain group of management employees. Total expenses for the deferred compensation plan were $315 thousand and $787 thousand for the years ended December 31, 2023 and 2022, respectively. Supplemental Employee Retirement Plan The Company has salary continuation agreements with two of its current executive officers and one former executive officer. These salary continuation agreements provide for predetermined fixed-cash supplemental retirement benefits to be provided for a period of 20 years after each individual reaches a defined "benefit age." The individuals covered under the SERP have reached the defined benefit age and are receiving payments under the SERP. Additionally, the Company has not recognized service costs in the current or prior year as each officer had previously attained their individually defined benefit age and was fully vested under the SERP. This non-qualified plan represents a direct liability of the Company, and as such, the Company has no specific assets set aside to settle the benefit obligation. The aggregate amount accrued, or the "accumulated benefit obligation," is equal to the present value of the benefits to be provided to the employee or any beneficiary. Because the Company's benefit obligations provide for predetermined fixed-cash payments, the Company does not have any unrecognized costs to be included as a component of accumulated other comprehensive income. The amounts charged to expense for the SERP are included in the table below. The Company anticipates accruing an additional $58 thousand to the SERP for the year ending December 31, 2024. The following table provides a reconciliation of the changes in the supplemental retirement benefit obligation and the net periodic benefit cost for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Reconciliation of benefit obligation: Benefit obligation at beginning of year $ 1,420 $ 1,708 $ 1,923 Net periodic benefit cost: Interest cost 69 74 61 Actuarial gain (21) (86) — Net periodic benefit costs $ 48 $ (12) $ 61 Benefits paid (276) (276) (276) Benefit obligation at end of year $ 1,192 $ 1,420 $ 1,708 Funded status: Accrued liability as of December 31 $ (1,192) $ (1,420) $ (1,708) Discount rate used for benefit obligation (1) 5.25 % 4.75 % 3.25 % __________________________________________ (1) Management utilizes the Moody's 20-year AA corporate bond rates to establish the reasonableness of the discount rate used. The Company reviews and periodically updates the discount rate to reflect changes in bond market rates. The impact of the discount rate change is reflected as the actuarial gain or loss. SERP benefits expected to be paid in each of the next five years and in the aggregate five years thereafter: (Dollars in thousands) Payments 2024 $ 276 2025 276 2026 276 2027 275 2028 165 2029-2033 119 Supplemental Life Insurance The Company has provided supplemental life insurance through split-dollar life insurance arrangements for certain executive and senior officers on whom the Bank owns BOLI. See Item (l), "Bank Owned Life Insurance," in Note 1, "Summary of Significant Accounting Policies," to the Company's consolidated financial statements of this Form 10-K, contained above, for further information regarding BOLI. These arrangements provide a death benefit to the officer's designated beneficiaries that extend to post-retirement periods for some of the supplemental life insurance plans. The Company has recognized a liability for these future post-retirement benefits. These non-qualified plans represent a direct liability of the Company, and, as such, the Company has no specific assets set aside to settle the benefit obligation. The funded status is the aggregate amount accrued, or the "accumulated post-retirement benefit obligation," which is the present value of the post-retirement benefits associated with this arrangement. The following table provides a reconciliation of the changes in the post-retirement supplemental life insurance plan obligation and the net periodic benefit cost for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Reconciliation of benefit obligation: Benefit obligation at beginning of year $ 2,358 $ 2,620 $ 2,631 Net periodic benefit cost: Service cost (29) (26) (23) Interest cost 115 105 83 Actuarial gain (167) (341) (71) Total net period cost $ (81) $ (262) $ (11) Benefit obligation at end of year $ 2,277 $ 2,358 $ 2,620 Funded status: Accrued liability as of December 31 $ (2,277) $ (2,358) $ (2,620) Discount rate used for benefit obligation (1) 5.25 % 4.75 % 3.25 % __________________________________________ (1) Management utilizes the Moody's 20-year AA corporate bond rates to establish the reasonableness of the discount rate used. The Company reviews and periodically updates the discount rate to reflect changes in bond market rates. The impact of the discount rate change is reflected as the actuarial gain or loss. The amounts charged to expense for supplemental life insurance are included in the table above. The Company anticipates accruing an additional $105 thousand to the plan for the year ending December 31, 2024.

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation The Company currently has one active stock incentive plan: The Enterprise Bancorp, Inc. 2016 Stock Incentive Plan, as amended. The Company's stock-based compensation expense related to these plans includes stock options and stock awards to officers and other employees included in salary and benefits expense, and stock awards and stock compensation in lieu of cash fees to non-employee directors both included in other operating expenses. Total stock-based compensation expense was $2.3 million, for the years ended December 31, 2023, and 2022, respectively, and $2.1 million for the year ended December 31, 2021. The total tax benefit recognized related to the stock-based compensation expense was $637 thousand, $651 thousand, and $579 thousand for the years ended December 31, 2023, 2022 and 2021, respectively. Tax benefits associated with employee exercises and vesting of stock compensation amounted to $108 thousand, $147 thousand and $85 thousand for the years ended December 31, 2023, 2022, and 2021, respectively. Stock Option Awards Stock options granted generally vest 50% in year two and 50% in year four, on or about the anniversary date of the awards. Under the terms of the plans, stock options may not be granted at less than 100% of the fair market value of the shares on the date of grant and may not have a term of more than 10 years. The Company utilizes the Black-Scholes option valuation model in order to determine the per share grant date fair value of stock option grants. The Company issued no stock options during the year ended December 31, 2023. The table below provides a summary of the stock options granted, including the weighted average fair value, the fair value as a percentage of the market value of the underlying stock at the date of grant and the average assumptions used in the model for the years indicated: Stock Option Awards 2022 2021 Stock options granted 17,060 17,580 Term in years 10 10 Weighted average assumptions used in the fair value model: Expected volatility 44 % 44 % Expected dividend yield 3.05 % 3.01 % Expected life in years 6.5 6.5 Risk-free interest rate 2.20 % 1.28 % Weighted average market price on date of grants $ 38.57 $ 32.73 Per share weighted average fair value $ 14.40 $ 11.95 Fair value as a percentage of market value at grant date 37 % 36 % The expected volatility is the anticipated variability in the Company's share price over the expected life of the stock option and is based on the Company's historical volatility. The expected dividend yield is the Company's projected dividends based on historical annualized dividend yield to coincide with volatility divided by its share price at the date of grant. The expected life represents the period of time that the stock option is expected to be outstanding. The Company utilized the simplified method, under which the expected term equals the vesting term plus the contractual term divided by two. The risk-free interest rate is based on the U.S. Department of the Treasury rate in effect at the time of grant for a period equivalent to the expected life of the stock option. Stock option transactions during the year ended December 31, 2023 are summarized as follows: (Dollars in thousands, except per share data) Options Weighted Average Exercise Weighted Average Remaining Life in Years Aggregate Outstanding December 31, 2022 197,249 $ 26.33 4.4 $ 1,824 Granted — — Exercised 33,998 17.87 Forfeited/Expired 712 33.91 Outstanding December 31, 2023 162,539 $ 28.07 4.2 $ 824 Vested and Exercisable at December 31, 2023 126,161 $ 26.37 3.3 $ 777 The intrinsic value of stock options vested and exercisable represents the total pretax value that would have been received by the stock option holders had all in-the-money vested stock option holders exercised their options on December 31, 2023. At December 31, 2023, 103,568 of the vested and exercisable stock options were in-the money. Cash received from stock option exercises amounted to $180 thousand, $118 thousand, and $159 thousand during the years ended December 31, 2023,2022 and 2021, respectively. The total intrinsic value of stock options exercised amounted to $563 thousand, $93 thousand and $173 thousand during the years ended December 31, 2023, 2022 and 2021, respectively. Cash paid by the Company for the net settlement of stock options to cover employee tax obligations amounted to $153 thousand, $8 thousand and $16 thousand during the years ended December 31, 2023, 2022 and 2021, respectively. Stock option activity during the year ended December 31, 2023 for unvested options are summarized as follows: Unvested Options Options Weighted Average Grant Date Fair Value Unvested December 31, 2022 56,257 $ 11.34 Granted — — Vested 19,879 10.24 Forfeited — — Unvested December 31, 2023 36,378 $ 11.94 The total fair value of stock options vested (based on grant date fair value) during the years ended December 31, 2023, 2022 and 2021, was $204 thousand, $186 thousand, and $171 thousand, respectively. Compensation expense recognized in association with the stock option awards amounted to $175 thousand, $206 thousand and $187 thousand for the years ended December 31, 2023, 2022 and 2021, respectively. The total tax benefit recognized related to the stock option expense was $49 thousand, $58 thousand and $52 thousand for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, there was $202 thousand of unrecognized stock-based compensation expense related to non-vested stock options. That cost is expected to be recognized over the remaining weighted average vesting period of 1.8 years. 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 years indicated: Restricted Stock Awards (number of underlying shares) 2023 2022 2021 Two-year vesting 9,915 8,823 8,109 Four-year vesting 32,719 22,147 24,307 Performance-based vesting 31,270 22,254 21,559 Total restricted stock awards 73,904 53,224 53,975 Weighted average grant date fair value $ 32.04 $ 38.57 $ 32.73 The restricted stock awards allow for the non-forfeitable receipt of dividends, and the voting of all shares, whether or not vested, throughout the vesting periods at the same proportional level as common shares outstanding. Upon vesting, restricted stock awards may be net settled to cover payment for employee tax obligations, resulting in shares of common stock being reacquired by the Company. During the years ended December 31, 2023, 2022 and 2021 the Company paid $294 thousand, $425 thousand and $330 thousand, respectively, to net settle the vesting of restricted stock awards to cover employee tax obligations. Any shares that are returned to the Company prior to vesting or as payment for employee tax obligations upon vesting shall remain available for issuance under such plan, while the plan is still effective. The following table sets forth a summary of the activity for the Company's restricted stock awards: Restricted Weighted Average Grant Price Per Share Unvested December 31, 2022 106,658 $ 34.68 Granted 73,904 32.04 Vested/released 47,822 33.20 Forfeited 2,701 33.58 Unvested December 31, 2023 130,039 $ 33.75 Stock-based compensation expense recognized in association with the restricted stock awards amounted to $1.9 million for both of the years ended December 31, 2023 and 2022, respectively and $1.6 million for the year ended December 31, 2021. The total tax benefit recognized related to restricted stock award compensation expense was $527 thousand, $522 thousand and $456 thousand for the years ended December 31, 2023, 2022 and 2021, respectively. As of December 31, 2023, there remained $2.6 million of unrecognized compensation expense related to the restricted stock awards. That cost is expected to be recognized over the remaining weighted average vesting period of 2.3 years. The total fair value of restricted stock awards vested (based on grant date fair value) during the years ended December 31, 2023, 2022 and 2021 was $1.6 million, $1.8 million and $1.7 million, respectively. Stock in Lieu of Directors' Fees In addition to the restricted stock awards discussed above, non-employee members of the Company's Board may opt to receive newly issued shares of the Company's common in stock in lieu of cash compensation for attendance at Board and Board Committee meetings. These shares are valued based on the Company's average quarterly close price and are issued in January of the following year. Stock in lieu of directors' fees expense was $218 thousand for the year ended December 31, 2023, which represented 7,224 shares issued in January of 2024, compared to $254 thousand for the year ended December 31, 2022, which represented 7,265 shares issued in January of 2023, and $252 thousand for the year ended December 31, 2021, which represented 7,375 shares issued in January of 2022. The total tax benefit recognized related to the stock in lieu of directors' fees for meeting attendance was $61 thousand for the year ended December 31, 2023, and $71 thousand, for both of the years ended December 31, 2022 and 2021.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The components of income tax expense for the years ended December 31, were calculated using the asset and liability method as follows: (Dollars in thousands) 2023 2022 2021 Current expense: Federal $ 10,424 $ 11,996 $ 10,786 State 4,763 4,606 3,771 Total current expense 15,187 16,602 14,557 Deferred benefit: Federal (1,425) (2,027) (945) State (575) (1,145) (25) Total deferred benefit (2,000) (3,172) (970) Total income tax expense $ 13,187 $ 13,430 $ 13,587 The provision for income taxes differs from the amount computed by applying the statutory U.S. federal income tax rate of 21% for 2023, 2022 and 2021 to income before taxes as follows: (Dollars in thousands) 2023 2022 2021 Computed income tax expense at statutory rate $ 10,761 $ 11,791 $ 11,709 State income taxes, net of federal tax benefit 3,309 2,734 2,959 Tax-exempt income, net of disallowance (758) (804) (832) Bank-owned life insurance income, net (265) (252) (172) Tax (benefit) expense from stock compensation (108) (147) (85) New market tax credit (135) — — Other 383 108 8 Total income tax expense $ 13,187 $ 13,430 $ 13,587 Effective income tax rate 25.7 % 23.9 % 24.4 % At December 31, the tax effects of each type of income and expense item that give rise to deferred taxes are as follows: (Dollars in thousands) 2023 2022 Deferred tax asset: Allowance for credit losses $ 18,278 $ 15,822 Depreciation 3,524 3,270 Net unrealized losses on equity securities 51 53 Net unrealized losses on debt securities 23,105 27,918 Supplemental employee retirement plans 330 932 Deferred compensation and benefits 3,976 3,042 Non-accrual interest 1,608 1,425 Stock-based compensation expense 878 724 Lease liability 6,757 6,781 Other 6 1,049 Total 58,513 61,016 Deferred tax liability: Goodwill 1,564 1,571 Deferred origination costs 848 616 Lease ROU asset 6,862 6,781 Other 73 67 Total 9,347 9,035 Net deferred tax asset $ 49,166 $ 51,981 Management believes based upon positive historical and expected future earnings that it is more likely than not the Company will generate sufficient taxable income to realize the deferred tax asset existing at December 31, 2023. However, factors beyond management's control, such as the general state of the economy, can affect future levels of taxable income and there can be no assurances that sufficient taxable income will be generated to fully realize the deferred tax assets in the future. The Company paid total estimated income taxes during the years ended December 31, 2023, 2022 and 2021 of $15.6 million, $17.0 million and $12.3 million, respectively. The Company did not have unrecognized tax benefits accrued as income tax liabilities or receivables or as deferred tax items at December 31, 2023, or December 31, 2022. The Company is generally subject to examinations by taxing authorities for the prior three tax years. The Company invests in qualified affordable housing projects as a limited partner. As of December 31, 2023,the Company recognized no Federal Low Income Housing tax credits. There are no remaining tax credits related to these Federal Low Income Housing Tax Credit program expected to be realized. During the years ended December 31, 2022 and 2021, the Company recognized $36 thousand and $71 thousand in Federal Low Income Housing tax credits.

Earnings per Share

Earnings per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings per Share	Earnings per Share The table below presents the increase in average shares outstanding, using the treasury stock method, for the diluted earnings per share calculation for the years indicated: 2023 2022 2021 Basic weighted average common shares outstanding 12,223,626 12,103,033 12,005,838 Dilutive shares 20,410 46,744 45,455 Diluted weighted average common shares outstanding 12,244,036 12,149,777 12,051,293 There were 61,425, 34,291 and 31,677 stock options outstanding at December 31, 2023, 2022 and 2021, respectively, that were determined to be anti-dilutive and therefore excluded from the calculation of dilutive shares for the years ended December 31, 2023, 2022 and 2021. These stock options, which were not dilutive at that date, may potentially dilute earnings per share in the future. The Company issues stock options and restricted stock awards to officers and other employees and restricted stock awards and stock compensation in lieu of cash fees to non-employee directors. The restricted stock awards allow for the non-forfeitable receipt of dividends, and the voting of all shares, whether or not vested, throughout the vesting periods at the same proportional level as common shares outstanding. The unvested restricted stock awards are the Company's only participating securities and are included in shares outstanding. Unvested participating restricted awards amounted to 130,039 shares and 106,658 shares as of December 31, 2023 and December 31, 2022, respectively.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 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: December 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 $ 661,113 $ — $ 661,113 $ — Equity securities 7,058 7,058 — — FHLB stock 2,402 — 2,402 — Interest-rate swaps 630 — 630 — Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) $ 1,595 $ — $ — $ 1,595 Liabilities measured on a recurring basis: Interest-rate swaps $ 1,390 $ — $ 1,390 $ — RPA sold 65 — 65 — 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 did not transfer any assets between the fair value measurement levels during the years ended December 31, 2023 or December 31, 2022. All of the Company's debt securities are considered "available-for-sale" and are carried at fair value. The debt security category above may include federal agency obligations, U.S. treasury securities, commercial and residential federal agency MBS, municipal securities, corporate bonds, and CDs, as held at those dates. The Company utilizes third-party pricing vendors to provide valuations on its debt securities. Fair values provided by the vendors were generally determined based upon pricing matrices utilizing observable market data inputs for similar or benchmark securities in active markets and/or based on a matrix pricing methodology which employs The Bond Market Association's standard calculations for cash flow and price/yield analysis, live benchmark bond pricing and terms/condition data available from major pricing sources. Therefore, management regards the inputs and methods used by third-party pricing vendors to be "Level 2 inputs and methods" as defined in the "fair value hierarchy." The Company periodically obtains a second price from an impartial third-party on debt securities to assess the reasonableness of prices provided by the primary independent pricing vendor. The Company's equity securities 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 Level 2 measurement and are based on settlement values adjusted for credit risks and observable market interest-rate curves. The settlement values are determined using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative, reflecting the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest-rate curves. Credit risk adjustments consider factors such as the likelihood of default by the Company and its counterparties, its net exposures and remaining contractual life. The change in value of derivative assets and liabilities attributable to credit risk was not significant during the reported periods. The fair value of individually evaluated collateral dependent loan balances in the table above represent those collateral dependent commercial loans where management has estimated the probable credit loss by comparing the loan's carrying value 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 are categorized as Level 3 within the fair value hierarchy. A specific allowance is assigned to the collateral dependent loan for the amount of management's estimated probable credit loss. The specific allowances assigned to the collateral dependent individually evaluated loans amounted to $2.8 million at December 31, 2023 compared to $298 thousand at December 31, 2022. Letters of credit are conditional commitments issued by the Company to guarantee the financial obligation or performance of a customer to a third-party. The fair value of these commitments was estimated to be the fees charged to enter into similar agreements, and accordingly these fair value measures are deemed to be FASB Level 2 measurements. In accordance with the FASB, the estimated fair values of these commitments are carried on the Consolidated Balance Sheet as a liability and amortized to income over the life of the letters of credit, which are typically one year. The estimated fair value of these commitments carried on the Consolidated Balance Sheets at December 31, 2023 and December 31, 2022 were deemed immaterial. Interest-rate lock commitments related to the origination of mortgage loans that will be sold are considered derivative instruments. The commitments to sell loans are also considered derivative instruments. The Company generally does not pool mortgage loans for sale, but instead sells the loans on an individual basis. To reduce the net interest rate exposure arising from its loan sale activity, the Company enters into the commitment to sell these loans at essentially the same time that the interest-rate lock commitment is quoted on the origination of the loan. The Company estimates the fair value of these derivatives based on current secondary mortgage market prices. These commitments are accounted for in accordance with FASB guidance. The fair values of the Company's derivative instruments are deemed to be FASB Level 2 measurements. At December 31, 2023 and December 31, 2022, the estimated fair value of the Company's interest-rate lock commitments and commitments to sell these mortgage loans were deemed immaterial. 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 December 31, 2023 and December 31, 2022: Fair Value (Dollars in thousands) December 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) $ 1,595 $ 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 Consolidated Balance Sheet, 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 Consolidated Balance Sheet. The carrying values, estimated fair values and placement in the fair value hierarchy of the Company's financial instruments for which fair value is only disclosed but not recognized on the Consolidated Balance Sheets at the dates indicated are summarized as follows: December 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 $ 200 $ 201 $ — $ 201 $ — Loans, net 3,508,636 3,353,968 — $ — 3,353,968 Financial liabilities: CDs 521,076 518,928 — 518,928 — Borrowed funds 25,768 24,081 — 24,081 — Subordinated debt 59,498 55,572 — 55,572 — 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 of their fair value hierarchy. Also excluded from these tables are the fair values of commitments for unused portions of lines of credit and commitments to originate loans that were short-term, at current market rates and estimated to have no significant change in fair value.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Supplement Cash Flow Information	Supplemental Cash Flow Information The supplemental cash flow information for the years indicated is as follows: (Dollars in thousands) 2023 2022 2021 Supplemental financial data: Cash paid for: interest $ 45,296 $ 8,647 $ 7,880 Cash paid for: estimated income taxes 15,610 16,983 12,335 Cash paid for: lease liability 1,412 1,380 1,251 Supplemental schedule of non-cash activity: Transfer from loans to other real estate owned — — 2,400 ROU lease assets: operating leases (1) 611 31 6,608 _________________________________________ (1) Represents net new ROU lease assets added in the periods indicated.

Condensed Parent Company Only F

Condensed Parent Company Only Financial Statements	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Condensed Parent Company Only Financial Statements	Condensed Parent Company Only Financial Statements Balance Sheets December 31, (Dollars in thousands, except per share data) 2023 2022 Assets Cash $ 2,089 $ 1,929 Investment in subsidiaries 387,978 340,966 Other assets — — Total assets $ 390,067 $ 342,895 Liabilities and Shareholders' Equity Liabilities Subordinated debt $ 59,498 $ 59,182 Accrued interest payable 1,444 1,444 Other liabilities 8 2 Total liabilities 60,950 60,628 Shareholders' equity: Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued — — Common stock $0.01 par value per share; 40,000,000 shares authorized; 12,272,674 and 12,133,516 shares issued, respectively 123 121 Additional paid-in capital 107,377 103,793 Retained earnings 301,380 274,560 Accumulated other comprehensive income (79,763) (96,207) Total shareholders' equity 329,117 282,267 Total liabilities and shareholders' equity $ 390,067 $ 342,895 Statements of Income For the years ended December 31, (Dollars in thousands) 2023 2022 2021 Equity in undistributed net income of subsidiaries $ 30,315 $ 36,701 $ 22,985 Dividends distributed by subsidiaries 10,200 8,900 22,350 Total income 40,515 45,601 45,335 Interest expense 3,467 3,352 3,495 Other operating expenses 347 270 891 Total operating expenses 3,814 3,622 4,386 Income before income taxes 36,701 41,979 40,949 Benefit from income taxes (1,357) (737) (1,222) Net income $ 38,058 $ 42,716 $ 42,171 Statements of Cash Flows For the years ended December 31, (Dollars in thousands) 2023 2022 2021 Cash flows from operating activities: Net income $ 38,058 $ 42,716 $ 42,171 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (30,315) (36,701) (22,985) Payment from subsidiary bank for stock compensation expense 2,305 2,315 2,094 Changes in: Net decrease (increase) in other assets (253) 205 66 Net increase (decrease) in other liabilities 322 202 (25) Net cash provided by operating activities 10,117 8,737 21,321 Cash flows from investing activities: Investment in subsidiary — — — Net cash used in investing activities — — — Cash flows from financing activities: Repayment of subordinated debt — — (14,887) Proceeds from the issuance of subordinated debt — — — Cash dividends paid, net of dividend reinvestment plan (9,734) (8,521) (7,627) Proceeds from issuance of common stock 44 47 59 Net settlement for employee tax withholding on restricted stock and options (447) (433) (346) Net proceeds from exercise of stock options 180 118 159 Net cash (used in) provided by financing activities (9,957) (8,789) (22,642) Net (decrease) increase in cash and cash equivalents 160 (52) (1,321) Cash at beginning of year 1,929 1,981 3,302 Cash at end of year $ 2,089 $ 1,929 $ 1,981 The Parent Company's Statements of Comprehensive Income and Statements of Changes in Shareholders' Equity are identical to the Consolidated Statements of Comprehensive Income and the Consolidated Statements of Changes in Shareholders' Equity and therefore are not presented here.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net income	$ 38,058	$ 42,716	$ 42,171

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Organization of the Company and Basis of Presentation - Principles of Consolidation	Organization of the Company and Basis of Presentation The accompanying consolidated financial statements of Enterprise Bancorp, Inc. (the "Company," "Enterprise," "we," or "our"), a Massachusetts corporation, 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 the Company's operations are conducted through the Bank and its subsidiaries. The Bank's subsidiaries include Enterprise Wealth Services, LLC, organized under the laws of the State of Delaware, to offer non-deposit investment products and services. 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 for the purpose of investing in a local NMTC project which provides federal tax incentives for investments in distressed communities. The NMTC are discussed in Note 15, " Income Taxes" The Company's headquarters and the Bank's main office are located at 222 Merrimack Street in Lowell, Massachusetts. At December 31, 2023, the Company had 27 full-service branch banking offices serving the Northern Middlesex, Northern Essex and Northern Worcester counties of Massachusetts and Southern Hillsborough and Southern Rockingham counties in New Hampshire. Through the Bank and its subsidiaries, the Company offers a range of commercial, residential and consumer loan products, deposit products and cash management services, electronic and digital banking options. The Company also provides a range of wealth management services. 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 FDIC and the Massachusetts Division of Banks (the "Division") have regulatory authority over the Bank. The Bank is also subject to certain regulatory requirements of the Board of Governors of the Federal Reserve System (the "Federal Reserve Board") and, with respect to its New Hampshire branch operations, the New Hampshire Banking Department. The business and operations of the Company are subject to the regulatory oversight of the Federal Reserve Board. The Division also retains supervisory jurisdiction over the Company.
Organization of the Company and Basis of Presentation - Basis of Accounting	The accompanying audited consolidated financial statements and notes thereto have been prepared in accordance with U.S. GAAP and the instructions for SEC Form 10-K through the rules and interpretive releases of the SEC under federal securities law. In the opinion of management, the accompanying audited consolidated financial statements reflect all necessary adjustments consisting of normal recurring accruals for a fair presentation. All significant intercompany balances and transactions have been eliminated in the accompanying consolidated financial statements.
Organization of the Company and Basis of Presentation - Reclassifications	Certain previous years' amounts in the consolidated financial statements, and notes thereto, have been reclassified to conform to the current year's presentation.
Organization of the Company and Basis of Presentation - Subsequent Events	The Company has evaluated subsequent events and transactions from December 31, 2023, through the filing date of this Annual Report on Form 10-K with the SEC for potential recognition or disclosure as required by GAAP and determined that there were no material subsequent events requiring recognition or disclosure.
Uses of Estimates	Uses of Estimates In preparing the consolidated 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 years 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. The most significant areas in which management applies critical assumptions and estimates are the estimates of the allowance for credit losses for loans and available for sale securities, the reserve for unfunded commitments, and the impairment review of goodwill, which are each discussed below.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash equivalents are defined as highly liquid investments with original maturities of three months or less, that are readily convertible to known amounts of cash and present insignificant risk of changes in value due to changes in interest rates. The Company's cash and cash equivalents may be comprised of cash on hand and cash items due from banks, interest-earning deposits with banks (deposit accounts, excess reserve cash balances, money markets, and money market mutual fund accounts) and overnight and term federal funds sold to money center banks. Balances in cash and cash equivalents will fluctuate due primarily to the timing of net cash flows from deposits, borrowings, loans and investments, and the immediate liquidity needs of the Company.
Restricted Cash and Investments	Restricted Cash and Investments Certain of the Company's derivative agreements contain provisions for collateral to be posted if the derivative exposure exceeds a threshold amount. When the Company has pledged cash as collateral in relation to certain derivatives, the cash is carried as restricted cash within "Interest-earning deposits with banks." See Note 9, "Derivatives and Hedging Activities," to the Company's consolidated financial statements of this Form 10-K below for more information about the Company's collateral related to its derivatives. As a member of the FHLB, the Company is required to purchase certain levels of FHLB capital stock at par value in association with outstanding advances from the FHLB. From time-to-time, the FHLB may initiate the repurchase, at par value, of "excess" levels of its capital stock held by member banks. This stock is classified as a restricted investment and is carried at cost, which management believes approximates fair value. FHLB stock represents the only restricted investment held by the Company.
Investment Securities	Investment Securities Investments in debt securities that are intended to be held for indefinite periods of time, but which may not be held to maturity or on a long-term basis are considered to be "available-for-sale" and are carried at fair value. Included as available-for-sale are debt securities that are purchased in connection with the Company's asset-liability risk management strategy and that may be sold in response to changes in interest rates, prepayment risk and other related factors. In instances where the Company has the positive intent to hold debt securities to maturity, these securities will be classified as held-to-maturity and carried at amortized cost. As of the balance sheet dates, all the Company's debt securities were classified as available-for-sale and carried at fair value. Net unrealized appreciation and depreciation on debt securities available-for-sale, net of applicable income taxes, are recorded in the Company's Consolidated Statement of Comprehensive Income as a component of "Accumulated other comprehensive (loss) income." The net unrealized gain or loss in the Company's debt security portfolio fluctuates as market interest rates rise and fall. Due to the fixed rate nature of this portfolio, as market rates fall, the value of the portfolio rises, and as market rates rise, the value of the portfolio declines. The unrealized gains or losses on debt securities will also decline as the securities approach maturity. The Company's equity securities are carried at fair value with changes in fair value recognized in the Company's Consolidated Income Statement as a component of "Other income." The net gains and losses on equity securities that will be recognized as a component of "Non-interest income" in the future will depend on the amount of dollars invested in equities, the magnitude of changes in equity markets and the amount of gains or losses realized through equity sales. Investment securities' discounts are accreted and premiums are amortized over the period of estimated principal repayment using methods that approximate the interest method. Gains or losses on the sale of investment securities are recognized on the trade date on a specific identification basis. ACL for Available-for-Sale Securities Methodology In accordance with ASC "Financial Instruments—Credit Losses (Topic 326), the Company's expected credit losses on available-for-sale debt securities are presented as an allowance rather than as a write-down. The Company measures expected credit losses on available-for-sale securities based upon the unrealized gain or loss position of the security. For available-for-sale debt securities in an unrealized loss position, the Company evaluates qualitative criteria to determine any expected loss unless the Company intends to sell, or it is more likely than not that the Company will be required to sell before recovery of the amortized cost. In the latter two circumstances, the Company recognizes the entire difference between the security’s amortized cost basis and its fair value as a write-down of the investment balance with a charge to earnings. Otherwise, management’s analysis considers various factors, which include among other considerations (1) the present value of the cash flows expected to be collected compared to the amortized cost of the security, (2) duration and magnitude of the decline in value, (3) the financial condition of the issuer or issuers, and (4) structure of the security. If the Company does not expect to recover the entire amortized cost basis of the security, an allowance for credit losses for available-for-sale securities would be recorded, with a related charge to earnings, limited by the difference of the amortized cost of the security to its fair value. Subsequent measurements of the ACL for available-for-sale securities may result in a reversal the allowance for credit losses, not to exceed the amount initially recognized. In addition, the Company has elected to exclude accrued interest from the measurement of the allowance for credit losses for available-for-sale debt securities and to continue to write-off uncollectible accrued interest receivable by reversing interest income.
Loans Held for Sale	Loans Held for Sale Depending on the current interest-rate environment, management projections of future interest rates and the overall asset-liability management program of the Company, management may elect to sell those fixed and adjustable-rate residential mortgage loans which are eligible for sale in the secondary market or hold some or all of this residential loan production for the Company's portfolio. Mortgage loans are generally not pooled for sale, but instead sold on an individual basis. Enterprise may retain or sell the servicing when selling the loans. Loans sold are subject to standard secondary market underwriting and eligibility representations and warranties over the life of the loan and are subject to an early payment default period covering the first four payments for certain loan sales. Loans held for sale are carried at the lower of aggregate amortized cost or fair value on a separate line on the balance sheet. Fair value is based on comparable market prices for loans with similar rates and terms. When loans are sold, a gain or loss is recognized to the extent that the sales proceeds plus unamortized fees and costs exceed, or are less than, the carrying value of the loans. Gains and losses are determined using the specific identification method.
Loans	Loans Loans made by the Company to businesses, non-profits and professional practices include commercial real estate mortgage loans, construction and land development loans, secured and unsecured commercial loans and lines of credit, and letters of credit. Loans made to individuals include conventional residential mortgage loans, home equity lines, residential construction loans on owner-occupied primary and secondary residences, and secured and unsecured personal loans and lines of credit. Most loans granted by the Company are collateralized by real estate, equipment, or receivables and/or are guaranteed by the principals of the borrower. Loans are reported at the principal amount outstanding, net of deferred origination fees and costs. The aggregate amounts of overdrawn deposit accounts are reclassified as loan balances. Loan origination fees received, offset by direct loan origination costs, are deferred and amortized using the straight-line method over three years to five years for lines of credit and demand notes or over the life of the related loans using the level-yield method for all other types of loans. When loans are paid off, the unamortized fees and costs are recognized as an adjustment to interest income. Certain of the Company's directors, officers, principal shareholders, and their associates are credit customers of the Company in the ordinary course of business. In addition, certain directors are also directors, trustees, officers or shareholders of corporations and non-profit entities or members of partnerships that are customers of the Bank and that enter into loan and other transactions with the Bank in the ordinary course of business. All loans and commitments included in such transactions are on such terms, including interest rates, repayment terms and collateral, as those prevailing at the time for comparable transactions with persons who are not affiliated with the Bank and do not involve more than a normal risk of collectability or present other features unfavorable to the Bank. From time to time, the Company participates with other banks in the financing of certain commercial projects. In order to qualify for sale accounting under GAAP, the rights and obligations of each participating bank are divided proportionately among the participating banks in an amount equal to their share of ownership and with equal priority among all banks. Each participation is governed by individual participation agreements executed by the lead bank and the participants at loan origination. When a participation qualifies as a sale under GAAP, the balances participated out to other institutions are not carried as assets on the Company's consolidated financial statements. When a participation does not qualify as a sale under GAAP, the loan is carried at gross principal outstanding and the balances participated out to other institutions are carried as secured borrowings on the Company's consolidated financial statements. The Company performs an independent credit analysis of each commitment and a review of the participating institution prior to participation in the loan, and an annual review thereafter of each participating institution. Loans originated by other banks in which the Company is the participating institution are carried in the loan portfolio at the Company's pro rata share of ownership. Participating loans with other institutions provide banks the opportunity to retain customer relationships and reduce credit risk exposure among each participating bank, while providing customers with larger credit vehicles than the individual bank might be willing or able to offer independently.
Credit Risk Management and ACL for Loans Methodology	Credit Risk Management and ACL for Loans Methodology Inherent in the lending process is the risk of loss due to customer non-payment, or "credit risk." The Company's commercial lending focus may entail significant additional credit risks compared to long-term financing on existing, owner-occupied residential real estate. The credit risk management function focuses on a wide variety of factors and early detection of credit issues is critical to minimize credit losses. Accordingly, management regularly monitors these factors, among others, through ongoing credit reviews by the Company's Credit Department, an external loan review service, reviews by members of senior management as well as reviews by the Board's Loan Committee and the Board. These reviews include the assessment of internal credit quality indicators such as, among others, the risk classification of loans, past due and non-accrual loans, loans individually evaluated or with hardship modifications, and the level of foreclosure activity. Credit Risk Management The Company's loan risk rating system classifies loans depending on risk of loss characteristics. The classifications range from "substantially risk free" for the highest quality loans and loans that are secured by cash collateral, through a satisfactory range of "minimal," "moderate," "better than average," and "average" risk, all of which are considered "pass" rated credits. The adverse classifications range from "special mention," for loans that may need additional monitoring, to the more severe classifications of "substandard," "doubtful," and "loss" based on criteria established under banking regulations. Loans classified as "substandard" include those characterized by the distinct possibility that the Company will sustain some loss if the deficiencies are not corrected. Loans classified as "doubtful" have all the weaknesses inherent in a substandard rated loan with the added characteristic that the weaknesses make collection or full payment from liquidation, based on existing facts, conditions, and values, highly questionable and improbable. Loans classified as "loss" are generally considered uncollectible at present, although long term recovery of part or all of loan proceeds may be possible. These "loss" loans would require a specific loss reserve or charge-off. Loans which are evaluated to be of weaker credit quality are classified as adverse and placed on the "watch asset list" and reviewed on a more frequent basis by management. Adversely classified loans may be accruing or in non-accrual status and may be additionally designated as individually evaluated or restructured, or some combination thereof. Loans on which the accrual of interest has been discontinued are designated as non-accrual loans and the classified portions are credit downgraded to one of the adversely classified categories noted above. Accrual of interest on loans is generally discontinued when a loan becomes contractually past due, with respect to interest or principal, by 90 days, or when reasonable doubt exists as to the full and timely collection of interest or principal. When a loan is placed on non-accrual status, all interest previously accrued but not collected is reversed against current period interest income. Interest accruals are resumed on such loans only when payments are brought current and have remained current for a period of 180 days or when, in the judgment of management, the collectability of both principal and interest is reasonably assured. Interest payments received on loans in a non-accrual status are generally applied to principal on the books of the Company. Loans individually evaluated consist primarily of loans for which management considers it probable that not all amounts due (principals and interest) will be collected in accordance with the original contractual terms and, to a lesser extent, if applicable, loans that management deems as individually significant or with unique risk characteristics or for some other reason based on management’s judgement. Management considers the individual payment status, net worth and earnings potential of the borrower, and the value and cash flow of the collateral as factors to determine if a loan will be paid in accordance with its contractual terms. Effective on January 1, 2023, the Company adopted ASU 2022-02, "Financial Instruments—Credit Losses (Topic 326), Troubled Debt Restructurings 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 experiencing financial difficulty 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 for 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 or not a delay in payment resulting from the current modification is insignificant. Individually evaluated adversely classified loans will be considered for upgrade based on the borrower's sustained performance over time and their improving financial condition. Consistent with the criteria for returning non-accrual loans to accrual status, the borrower must demonstrate the ability to continue to service the loan in accordance with the original or modified terms and, in the judgment of management, the collectability of the remaining balances, both principal and interest, are reasonably assured. A specific allowance is assigned to the loan for the amount of estimated credit loss. Individually evaluated loans are charged-off, in whole or in part, when management believes that the recorded investment in the loan is uncollectible. ACL for Loans Methodology In accordance with ASC "Financial Instruments—Credit Losses (Topic 326)," the CECL methodology requires early recognition of credit losses using a lifetime credit loss measurement approach that also requires the consideration of reasonable and supportable forecasts in the estimate. The CECL methodology is applicable to the loan portfolio, measured at amortized cost. It also applies to off-balance sheet credit exposures such as unadvanced loan & line balances, commitments to originate loans, standby letters of credit, and other similar instruments, which are not unconditionally cancellable. Additionally, the Company has elected to continue to present the accrued interest receivable balance on loans separate from amortized costs, exclude accrued interest from the measurement of the allowance for credit losses for loans and to continue to write-off uncollectible accrued interest receivable by reversing interest income. The ACL for loans is established through a provision for credit losses, recorded as a direct charge to earnings. The ACL for loans is a valuation account that is deducted from the amortized cost to present the net amount of the loan portfolio expected to be collected. Credit losses are charged against the ACL for loans when management believes that the collectability of the amortized cost of a loan's principal balance is unlikely. Recoveries on loans previously charged-off are credited to the ACL for loans, generally at the time cash is received on a charged-off account. Arriving at an appropriate level of ACL for loans involves a high degree of management judgement. The underlying assumptions, estimates and assessments used to estimate the ACL for loans reflects the Company’s best estimate of model assumptions and forecasted conditions at that time. Changes in such estimates can significantly affect the ACL for loans and the provision for credit losses. In addition, various regulatory agencies, as an integral part of their examination process, periodically review the Company's ACL for loans. Such agencies may require the Company to recognize additions to the ACL for loans based on judgments different from those of management. It is possible and likely that the Company will experience credit losses that are different from the current estimates and future additions to the ACL for loans may be necessary. On a quarterly basis, the Company makes an assessment to estimate the ACL for loans necessary to cover expected lifetime credit losses. The adequacy of the ACL for loans is reviewed and evaluated on a regular basis by an internal management committee, a sub-committee of the Company's Board of Directors (the "Board") and the full Board. In making its assessment on the adequacy of the ACL for loans, management considers several quantitative and qualitative factors from internal and external sources relating to past events, current conditions, and reasonable and supportable forecasts. The Company uses a systematic methodology to measure the amount of estimated loan losses. The methodology uses a two-tiered approach that applies general reserves for larger groups of homogeneous loans, segmented by loan type and specific reserves for loans individually evaluated. Loans collectively evaluated Management segments loans of similar risk characteristics using the Open Pool method by first calculating each segment's loss rate as net charge-offs over the expected average life of each segment, divided by the average loan balance over that same period. The historic loss factor is an average of the loss rate over a 5-year look-back period, which approximates the average age of charged-off loans. These historic loss factors are then adjusted up or down based on management's assessment of quantitative and qualitative factors. These key factors including quantitative facts about the loan portfolio such as: commercial concentrations by industry, property type and real estate location; the growth and composition of the loan portfolio; trends in risk classification of individual loans and higher risk problem assets; the level of delinquent, non-performing, and individually evaluated loans; the level of hardship loan modifications; foreclosure activity; net charge-offs; as well as trends in the general levels of these indicators. In addition, management monitors qualitative factors such as: expansion in the Company's geographic market area; the experience level of lenders and any changes in underwriting criteria; Market conditions, including general conditions in the multi-family, commercial real estate and construction and development markets in the Company's local region as well as changes in current and forecasted economic conditions, such as changes in gross domestic product, the unemployment rate and new jobs created, real estate values, commercial vacancy rates, recession risk estimates and other relevant economic factors. Management uses a two-year reasonable and supportable forecast, and for periods beyond the forecast period, reverts immediately to historical loss rates. Management weighs the current effect of each of these areas on each particular loan segment in determining the allowance allocation factors. Management must exercise significant judgment when evaluating the effect of these quantitative and qualitative factors on the amount of the ACL for loans as data may not be reasonably available or directly applicable to determine the precise impact of a factor on the collectability over the remaining average life. The methodology contemplates a range of acceptable levels for these factors due to the subjective nature of the factors and the qualitative considerations related to the credit risk in the portfolio. Although 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, during the quarter ended September 30, 2023, the Company made a minor modification to its ACL estimation process used in the prior year. The Company streamlined its allowance estimation process to collectively evaluate all loans not individually evaluated as one cohort segmented by loan type. Previously, the Company separately evaluated non-classified loans and adversely classified loans. The change did not have a material impact on the ACL for loans at December 31, 2023. Management recognizes that additional issues may also impact the estimate of expected credit losses to some degree. From time to time management will re-evaluate the qualitative factors, regulatory guidance, and industry data in use in order to consider the impact of other issues which, based on changing circumstances, may become more significant in the future. Loans individually evaluated For loans that are individually evaluated, as discussed above, management estimates the credit loss by comparing the loan's carrying value against either (i) the present value of the expected future cash flows discounted at the loan's effective interest-rate; (ii) the loan's observable market price; or (iii) the expected realizable fair value of the collateral, in the case of collateral dependent loans. A specific allowance is assigned to the loan for the amount of estimated credit loss. Individually evaluated loans are charged-off, in whole or in part, when management believes that the recorded investment in the loan is uncollectible. Reserve for unfunded commitments The reserve for unfunded commitments is included in the line item "Accrued expenses and other liabilities" on the Company’s Consolidated Balance Sheets. Management applies the CECL methodology to off-balance sheet commitments in a manner consistent with on-balance sheet loan loss rates. Additionally, the estimate of credit loss incorporates assumptions for both the likelihood and amount of funding over the estimated life of the commitments. Management periodically reviews and updates its assumptions for estimated funding rates.
Other Real Estate Owned	Other Real Estate Owned Real estate acquired by the Company through foreclosure proceedings or the acceptance of a deed in lieu of foreclosure is classified as OREO. When property is acquired, it is recorded at the estimated fair value of the property acquired, less estimated costs to sell, establishing a new cost basis and carried on the Consolidated Balance Sheet in the line item "Prepaid expenses and other assets." The estimated fair value is based on market appraisals and the Company's internal analysis. Any loan balance more than the estimated realizable fair value on the date of transfer is charged to the allowance for credit losses on that date. All costs incurred thereafter in maintaining the property, as well as subsequent declines in fair value are charged to non-interest expense.
Premises and Equipment	Premises and Equipment Land is carried at cost. All other premises and equipment costs are stated at cost less accumulated depreciation and amortization. Depreciation or amortization is computed on a straight-line basis over the lesser of the estimated useful lives of the asset or the respective lease term (including renewal options reasonably certain to be exercised) for leasehold improvements generally as follows: Bank premises, land improvements and leasehold improvements 10 to 39 years Computer software and equipment 3 to 5 years Furniture, fixtures and equipment 3 to 10 years
Leases	Leases The Company leases office space, space for ATM locations and certain branch locations under noncancellable operating leases, several of which have renewal options to extend lease terms. Upon commencement of a new lease, the Company will recognize a ROU asset and corresponding lease liability on the Consolidated Balance Sheet for all leases with terms longer than 12 months. The lease liability represents the present value of the future lease payments while the ROU asset represents the lease liability plus any lease prepayments and initial direct costs. The Company’s operating lease agreements contain both lease and non-lease components (such as common area maintenance), which are generally accounted for separately. To calculate the lease liability, the Company uses its incremental borrowing rate as the discount rate to determine the net present value of the lease liability. In determining the term of a lease, the Company included option renewal periods that it considered reasonably certain to be exercised. The Company recognizes lease expense on a straight-line basis in the "Occupancy and equipment expenses" line item within the non-interest expense section of the Consolidated Statement of Income.
Bank Owned Life Insurance	Bank Owned Life Insurance The Company owns BOLI on certain current and former senior and executive officers, utilizing the tax-exempt earnings on BOLI to offset the cost of the Company's benefit plans. The cash surrender value of these policies is included as an asset on the Consolidated Balance Sheet, and any increases in cash surrender value are recorded as income on bank owned life insurance on the Consolidated Statement of Income.
Impairment of Long-Lived Assets Other than Goodwill	Impairment of Long-Lived Assets Other than Goodwill The Company reviews long-lived assets, including premises, equipment, and lease right of use assets for impairment on an ongoing basis or whenever events or changes in business circumstances indicate that the remaining useful life may warrant revision or that the carrying amount of the long-lived asset may not be fully recoverable. If impairment is determined to exist, any related impairment loss is recognized through a charge to earnings. Impairment losses on assets disposed of, if any, are based on the estimated proceeds to be received, less cost of disposal.
Goodwill	Goodwill Goodwill is carried on the Company's consolidated financial statements and is related to the Company's acquisition of two branch offices in July 2000. In accordance with GAAP, the Company does not amortize goodwill and instead, at least annually, evaluates whether the carrying value of goodwill has become impaired. A determination that goodwill has become impaired results in an immediate write-down of goodwill to its determined value with a resulting charge to the Company's Consolidated Statement of Income. Goodwill is evaluated at the reporting unit level. In the case of the Company, the services offered through the Bank and subsidiaries are managed as one strategic unit and represent the Company’s only reportable operating segment. The Company has the option to perform either (i) a qualitative assessment of whether it is "more likely than not" that the reporting unit's fair value is less than its book value, or (ii) a quantitative assessment. 1. Management's qualitative assessment would take into consideration, among other items, macroeconomic conditions, industry and market considerations, cost or margin factors, financial performance and share price. Based on the qualitative assessment, if the Company were to conclude: a) it is "more likely than not" that the fair value of a reporting unit exceeds its book value, goodwill is deemed not impaired, or b) it is "more likely than not" that the fair value of a reporting unit is less than its book value, a quantitative goodwill analysis must be performed. 2.
Wealth Assets Under Management and Administration	Wealth Assets Under Management and Administration
Derivatives and Hedging	Derivatives and Hedging The Company records all derivatives on the balance sheet at fair value. Asset derivatives are included in the line item "Prepaid expenses and other assets," and liability derivatives are included in the "Accrued expenses and other liabilities" line item on the Consolidated Balance Sheets. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative. On the date the derivative instrument is entered into, the Company designates whether the derivative is part of a hedging relationship (i.e., cash flow or fair value hedge). The Company also assesses, both at the hedge’s inception and on an ongoing basis, whether the derivatives used in hedging transactions are highly effective in offsetting the changes in cash flows or fair values of hedged items. Fair value hedges are considered a hedge of the exposure to changes in the fair value of an asset, liability or firm commitment attributable to a particular risk, such as interest rate risk. For derivatives designated and qualifying as fair value hedges, changes in the fair value are recognized in earnings. Cash flow hedges are considered a hedge of the exposure to the variability in expected future cash flows, or other types of forecasted transactions. For derivatives designated and qualifying as cash flow hedges, changes in the fair value of derivative instruments that are highly effective are recorded in other comprehensive income (loss), net of tax and subsequently reclassified into earnings in the same period during which the hedged transaction affects earnings. Any hedge ineffectiveness is recognized directly in earnings. For derivative instruments not designated as hedging instruments, such as back-to-back interest rate swaps and risk participation agreements, changes in fair value are recognized in earnings. See Note 9, "Derivatives and Hedging Activities," to the Company's consolidated financial statements of this Form 10-K, contained below, for further information on the Company's derivative and hedging activities.
Revenue Recognition	Revenue Recognition Interest and dividend income (primarily loan interest income from customers) are our primary sources of revenue and are outside of the scope of ASC 606, "Revenue from Contracts with Customers," and are accounted for under other ASC topics. The core principles of this standard require an entity to recognize revenue on the transfer of goods and services to customers as performance obligations are satisfied. The primary areas of income for the Company within the scope of ASC 606 are wealth management fees and deposit and interchange fees which are components of non-interest income on the Company's Consolidated Statements of Income and are discussed below. Wealth management fees consist of income generated through our wealth management services. Wealth management income is generated primarily by managing customers' financial assets. Revenue is recognized as our performance obligation is completed each month. Revenue earned through our wealth services platform is generated through a third-party arrangement to refer, manage and service customers. For new sales and referrals along with transactional type charges, the performance obligation is based on a point in time and the payment is received and revenue is recognized in the same month as the revenue generating activity. For managing and servicing customers, revenue is recognized when our performance obligation is completed each month. Deposit and interchange fees are comprised of deposit account related charges and income generated from electronic payment interchanges. Deposit account charges consist of certain transactional analysis fees net of earning balance credits, monthly account service fees, and transactional fees such as overdraft fees. Analysis and monthly account services fees are recognized over the period the service is performed. For transactional fees, the performance obligation and the revenue are recognized at a point of time and payment is typically received as the service is rendered. Interchange income is generated primarily from retail debit card transactions processed through the card payment network. The performance obligation and the revenue are recognized when the service is performed.
Stock Based Compensation	Stock-Based Compensation The Company currently has one active stock incentive plan: The Enterprise Bancorp, Inc. 2016 Stock Incentive Plan, as amended (the "2016 Plan"). The 2016 Plan permits the Board to grant, under various terms, both incentive and non-qualified stock options (for the purchase of newly issued shares of common stock), restricted stock, restricted stock units and stock appreciation rights to officers and other employees, and to non-employee directors and consultants. The 2016 Plan also allows for newly issued shares of common stock to be issued without restrictions to officers and other employees, and non-employee directors and consultants. As of December 31, 2023, 370,680 common shares remained available for future grants under the 2016 Plan. Awards previously granted under an earlier, now expired plan remain outstanding and may be exercised through 2028. Under terms of the 2016 Plan, options exercised and restricted stock awards vested may be net settled to cover payment for option costs and employee tax obligations, resulting in shares of common stock being reacquired by the Company and returned to the pool of shares reserved for issuance under the incentive plans. In accordance with Massachusetts law, shares reacquired by the Company will be treated as authorized but unissued shares. The non-employee members of the Company's Board may opt to receive newly issued shares of the Company's common stock in lieu of cash compensation for attendance at Board and Board Committee meetings. These shares are issued annually each January for Board meetings held in the previous year. Directors must make an irrevocable election to receive shares of common stock in lieu of cash fees prior to December 31 st of the preceding year. Directors are granted shares of common stock in lieu of cash fees based on an average quarterly close price of the Company's common stock on the NASDAQ Global Market during the year. From time to time, the Company issues shares to community members for consulting on regional advisory councils and grants shares of fully vested stock as employee anniversary awards. These shares vest immediately and the cost, which is based on the market price on the date of grant and deemed to be immaterial, is expensed in the period in which the services are rendered. The Company's consolidated financial statements include stock-based compensation expense for the portion of stock option awards and stock awards for which the requisite service has been rendered during the period or the estimate of achieving certain predefined performance objectives. The compensation expense has been recorded based on the estimated grant-date fair value of the stock option awards with no adjustment for estimated forfeitures, or in the case of stock awards, the market value of the common stock on the date of grant. Expense adjustments are made for actual forfeitures as they occur. The Company will recognize the remaining estimated compensation expense for the portion of outstanding awards and compensation expense for any future awards, net of actual forfeitures, as the requisite service is rendered (i.e., on a straight-line basis over the remaining vesting period of each award) or as performance objectives are met. Stock awards that do not require future service ("vested awards") will be expensed immediately. Stock-based compensation also includes director stock compensation for stock awards and stock in lieu of cash fees, both included in other operating expenses.
Income Taxes	Income Taxes The Company and its subsidiaries file income tax returns in the U.S. federal jurisdiction and various states, within the directives of the respective enacted tax legislation. The Company uses the asset and liability method of accounting for income taxes. Under this method, deferred tax assets and liabilities are recognized for the future tax expense or benefit attributable to differences between the financial statement carrying amounts and the tax basis of assets and liabilities. The deferred tax assets and liabilities are reflected at currently enacted income tax rates applicable to the period in which the deferred tax assets or liabilities are expected to be realized or settled. As changes in tax laws or rates are enacted, deferred tax assets and liabilities will be adjusted accordingly through the provision for income taxes in the period that includes the enactment date, which may be earlier than the effective date. The Company's policy is to classify interest resulting from underpayment of income taxes as income tax expense in the first period the interest would begin accruing according to the provisions of the relevant tax law. The Company classifies penalties resulting from underpayment of income taxes as income tax expense in the period for which the Company claims or expects to claim an uncertain tax position or in the period in which the Company's judgment changes regarding an uncertain tax position. The income tax provisions will differ from the expense that would result from applying the federal statutory rate to income before taxes, due primarily to the impact of state tax expense, tax-exempt interest from certain investment securities, loans and BOLI and the tax impact from equity compensation activity. Deferred income taxes are recognized based on the expected future tax consequences of differences between the financial statement and tax basis of assets and liabilities, calculated using currently enacted tax rates. Management records net deferred tax assets to the extent we believe these assets will more likely than not be realized. In making this determination, we consider all available positive and negative evidence, including recent financial operations and projected future taxable income.
Earnings Per Share	Earnings per Share Basic earnings per share are calculated by dividing net income available to common shareholders by the weighted average number of common shares outstanding (including participating securities) during the year. The Company's only participating securities are unvested restricted stock awards that contain non-forfeitable rights to dividends. Diluted earnings per share reflects the effect on weighted average shares outstanding of the number of additional shares outstanding if dilutive stock options were converted into common stock using the treasury stock method.
Reporting Comprehensive Income	Reporting Comprehensive Income Comprehensive income is defined as all changes to shareholders' equity except investments by and distributions to shareholders. Net income is one component of comprehensive income, with other components referred to in the aggregate as other comprehensive income. The Company's other comprehensive income components are the changes in fair value of debt securities and cash flow hedges, both net of income taxes. Pursuant to GAAP, the Company initially excludes the unrealized holding gains and losses from net income; however, they are later reported as reclassifications out of accumulated other comprehensive income into net income when circumstances warrant. When debt securities are sold, the reclassification of realized gains and losses on available-for-sale securities are included on the Consolidated Statements of Income under the "Non-interest income" subheading on the line item "Net gains (losses) on sales of available-for-sale debt securities" and the related income tax expense is included in the line item "Provision for income taxes."
Dividends	Dividends Neither the Company nor the Bank may declare or pay dividends on its stock if the effect thereof would cause shareholders' equity to be reduced below applicable regulatory capital requirements or if such declaration and payment would otherwise violate regulatory requirements. As the principal asset of the Company, the Bank currently provides the only source of cash for the payment of dividends by the Company. Under Massachusetts law, trust companies such as the Bank may pay dividends only out of "net profits" and only to the extent that such payments will not impair the Bank's capital stock. Any dividend payment that would exceed the total of the Bank's net profits for the current year plus its retained net profits of the preceding two years would require the Massachusetts Division of Banks' approval. Applicable provisions of the FDIC Improvement Act also prohibit a bank from paying any dividends on its capital stock if the bank is in default on the payment of any assessment to the FDIC or if the payment of dividends would otherwise cause the bank to become "undercapitalized." Any restrictions, regulatory or otherwise, on the ability of the Bank to pay dividends to the Company may restrict the ability of the Company to pay dividends to the holders of its common stock. The statutory term "net profits" essentially equates with the accounting term "net income" and is defined under the Massachusetts banking statutes to mean the remainder of all earnings from current operations plus actual recoveries on loans and investments and other assets after deducting from such total all current operating expenses, actual losses, accrued dividends on any preferred stock and all federal and state taxes. In addition, the Company maintains a dividend reinvestment and direct stock purchase plan which enables shareholders, at their discretion, to elect to reinvest cash dividends paid on their shares of the Company's common stock by purchasing additional shares of common stock from the Company at a purchase price equal to fair market value. Under the DRSPP, shareholders and new investors also have the opportunity to purchase shares of the Company's common stock without brokerage fees, subject to monthly minimums and maximums.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Accounting pronouncements adopted by the Company In March 2023, the FASB issued 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 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. Accounting pronouncements not yet adopted by the Company In December 2023, the FASB issued ASU 2023-09, "Income Taxes (Topic 740): Improvements to Income Tax Disclosures." This ASU requires public business entities, on an annual basis, to disclose specific categories in the rate reconciliation and provide additional information for reconciling items that meet a quantitative threshold (if the effect of those reconciling items is equal to or greater than 5 percent of the amount computed by multiplying pretax income by the applicable statutory income tax rate). ASU 2023-09 is effective for fiscal years, and interim periods within those fiscal years beginning after December 15, 2024, with early adoption permitted. ASU 2023-09 is not expected to have a material impact on our consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures." The amendments in this ASU are intended to improve reportable segment disclosure requirements primarily through enhanced disclosures about significant segment expenses. For public business entities, the amendments are effective for fiscal years beginning after December 15, 2023. The Company is currently evaluating the impact of the ASU on the Company’s consolidated financial statements. In October 2023, the FASB issued ASU 2023-06, "Disclosure Improvements — Codification Amendments in Response to the SEC’s Disclosure Update and Simplification Initiative." This ASU amends the ASC to incorporate certain disclosure requirements from SEC Release No. 33-10532—Disclosure Update and Simplification that was issued in 2018. The effective date for each amendment will be the date on which the SEC’s removal of that related disclosure from Regulation S-X or Regulation S-K becomes effective, with early adoption prohibited. ASU 2023-06 is not expected to have a material impact on our consolidated financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Property, Plant and Equipment, Useful Lives	Depreciation or amortization is computed on a straight-line basis over the lesser of the estimated useful lives of the asset or the respective lease term (including renewal options reasonably certain to be exercised) for leasehold improvements generally as follows: Bank premises, land improvements and leasehold improvements 10 to 39 years Computer software and equipment 3 to 5 years Furniture, fixtures and equipment 3 to 10 years

Investment Securities (Tables)

Investment Securities (Tables)	12 Months Ended
	Dec. 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: 2023 (Dollars in thousands) Amortized Unrealized Unrealized Fair Value Federal agency obligations $ 5,006 $ — $ 28 $ 4,978 U.S. treasury securities 16,993 — 1,068 15,925 Federal agency CMO 396,665 33 61,947 334,751 Federal agency MBS 21,586 31 2,805 18,812 Taxable municipal securities 262,168 34 35,225 226,977 Tax-exempt municipal securities 45,548 156 285 45,419 Corporate bonds 4,058 — 92 3,966 Subordinated corporate bonds 11,957 — 1,672 10,285 Total debt securities, at fair value $ 763,981 $ 254 $ 103,122 $ 661,113 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 December 31, 2023 and 2022: 2023 Less than 12 months 12 months or longer Total (Dollars in thousands) Fair Unrealized Fair Unrealized Fair Unrealized # of Holdings Federal agency obligations $ 4,978 $ 28 $ — $ — $ 4,978 $ 28 1 U.S. treasury securities — — 15,925 1,068 15,925 1,068 4 Federal agency CMO 8,810 18 311,221 61,929 320,031 61,947 86 Federal agency MBS — — 17,114 2,805 17,114 2,805 10 Taxable municipal securities 1,993 316 223,949 34,909 225,942 35,225 251 Tax-exempt municipal securities 11,890 55 10,519 230 22,409 285 53 Corporate bonds — — 3,966 92 3,966 92 18 Subordinated corporate bonds — — 10,285 1,672 10,285 1,672 6 Total temporarily impaired debt securities $ 27,671 $ 417 $ 592,979 $ 102,705 $ 620,650 $ 103,122 429 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 40,373 2,582 43,251 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 temporarily impaired debt securities $ 354,291 $ 26,157 $ 431,932 $ 98,093 $ 786,223 $ 124,250 542
Schedule of Debt Securities, Available-for-Sale Investments Classified by Contractual Maturity Date	The contractual maturity distribution at December 31, 2023 of debt securities was as follows: (Dollars in thousands) Amortized Cost Fair Value Due in one year or less $ 30,657 $ 30,252 Due after one, but within five years 85,847 81,696 Due after five, but within ten years 252,508 217,720 Due after ten years 394,969 331,445 Total debt securities $ 763,981 $ 661,113
Schedule of Realized Gain (Loss) on Sales of Debt Securities, Available-for-Sale Investments	Sales of debt securities, for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: (Dollars in thousands) 2023 2022 2021 Amortized cost of debt securities sold (1) $ 87,198 $ 71,593 $ 2,931 Gross realized gains on sales — 1,061 128 Gross realized losses on sales (2,419) (3,034) — Total proceeds from sales of debt securities $ 84,779 $ 69,620 $ 3,059 __________________________________________ (1) Amortized cost of investments sold is determined on a specific identification basis and includes pending trades based on trade date, if applicable.
Schedule of Gain (Loss) on Equity Securities	Gains and losses on equity securities for the years ended December 31, 2023 and 2022 are summarized as follows: (Dollars in thousands) 2023 2022 Net gains (losses) recognized during the period on equity securities $ 666 $ (514) Less: Net losses realized on equity securities sold during the period (5) (17) Unrealized gains (losses) recognized during the reporting period on equity securities still held at the end of the period $ 671 $ (497)

Loans (Tables)

Loans (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Loans by Loan Classification	Major classifications of loans at amortized cost at the periods indicated were as follows: (Dollars in thousands) December 31, 2023 December 31, 2022 Commercial real estate $ 2,064,737 $ 1,921,410 Commercial and industrial 430,749 414,490 Commercial construction 585,113 424,049 Total commercial loans 3,080,599 2,759,949 Residential mortgages 393,142 332,632 Home equity 85,375 79,807 Consumer 8,515 8,130 Total retail loans 487,032 420,569 Total loans 3,567,631 3,180,518 Allowance for credit losses (58,995) (52,640) Net loans $ 3,508,636 $ 3,127,878
Schedule of Loans Pledged as Collateral	Loans designated as qualified collateral and pledged to the FHLB for borrowing capacity for the periods indicated are summarized below: (Dollars in thousands) December 31, 2023 December 31, 2022 Commercial real estate $ 495,831 $ 113,830 Residential mortgages 369,062 309,023 Home equity 35,540 39,724 Total loans pledged to FHLB $ 900,433 $ 462,577

Credit Risk Management and AC_2

Credit Risk Management and ACL for Loans (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of 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 December 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 $ 215,679 $ 371,606 $ 367,011 $ 201,621 $ 217,055 $ 641,034 $ 12,130 $ 107 $ 2,026,243 Special mention 31 15,782 — — 489 9,948 — — 26,250 Substandard — 1,311 631 — 969 8,883 — 450 12,244 Total commercial real estate 215,710 388,699 367,642 201,621 218,513 659,865 12,130 557 2,064,737 Current period charge-offs — — — — — — — — — Commercial and industrial Pass 73,608 51,990 45,278 24,778 23,724 44,609 156,465 3,402 423,854 Special mention — — — 70 215 201 2,227 223 2,936 Substandard — — 18 — 1 209 316 3,415 3,959 Total commercial and industrial 73,608 51,990 45,296 24,848 23,940 45,019 159,008 7,040 430,749 Current period charge-offs 15 248 — — 67 266 — — 596 Commercial construction Pass 192,462 164,313 143,203 22,017 16,247 10,532 27,261 — 576,035 Special mention — 7,905 — — 1,173 — — — 9,078 Total commercial construction 192,462 172,218 143,203 22,017 17,420 10,532 27,261 — 585,113 Current period charge-offs — — — — — — — — — Residential mortgages Pass 82,848 107,222 69,979 46,674 19,205 65,311 — — 391,239 Special mention — — — — — 109 — — 109 Substandard — — 236 — 1,055 503 — — 1,794 Total residential mortgages 82,848 107,222 70,215 46,674 20,260 65,923 — — 393,142 Current period charge-offs — — — — — — — — — Home equity Pass 1,203 775 561 444 317 1,738 79,421 636 85,095 Substandard — — — — — 72 — 208 280 Total home equity 1,203 775 561 444 317 1,810 79,421 844 85,375 Current period charge-offs — — — — — — — — — Consumer Pass 3,705 1,652 1,371 722 623 442 — — 8,515 Total consumer 3,705 1,652 1,371 722 623 442 — — 8,515 Current period charge-offs 35 — — — — 1 — — 36 Total loans $ 569,536 $ 722,556 $ 628,288 $ 296,326 $ 281,073 $ 783,591 $ 277,820 $ 8,441 $ 3,567,631 Total current period charge-offs $ 50 $ 248 $ — $ — $ 67 $ 267 $ — $ — $ 632 Balance at December 31, 2022 Term Loans by Origination Year (Dollars in thousands) 2022 2021 2020 2019 2018 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
Schedule of 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 December 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 $ 1,181 $ 774 $ 1,334 $ 3,289 $ 2,061,448 $ 2,064,737 Commercial and industrial 660 64 — 724 430,025 430,749 Commercial construction — — — — 585,113 585,113 Residential mortgages 1,265 — 1,277 2,542 390,600 393,142 Home equity 53 — 97 150 85,225 85,375 Consumer 25 2 — 27 8,488 8,515 Total loans $ 3,184 $ 840 $ 2,708 $ 6,732 $ 3,560,899 $ 3,567,631 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 table above include loans designated as non-accrual despite their payment due status.
Schedule of Financing Receivable, Nonaccrual	The following tables present the amortized cost of non-accrual loans by portfolio classification as of the dates indicated: Balance at December 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 $ 5,369 $ 4,400 $ 969 $ 229 Commercial and industrial 4,262 736 3,526 2,658 Commercial construction — — — — Residential mortgages 1,526 1,526 — — Home equity 257 257 — — Consumer — — — — Total loans $ 11,414 $ 6,919 $ 4,495 $ 2,887 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
Schedule of Interest Lost on Nonaccrual Loans	The reduction in interest income for the years ended December 31, associated with non-accruing loans is summarized as follows: (Dollars in thousands) 2023 2022 2021 Income that would have been recognized if non-accrual loans had been on accrual $ 1,285 $ 1,083 $ 2,028 Less income recognized 191 1,050 633 Reduction in interest income $ 1,094 $ 33 $ 1,395
Schedule of Impaired Financing Receivables	The following tables present the recorded investment in collateral dependent individually evaluated loans and the related specific allowance by portfolio allocation as of the dates indicated: Balance at December 31, 2023 (Dollars in thousands) Unpaid Total Recorded Recorded Recorded Related Specific Commercial real estate $ 8,703 $ 7,148 $ 6,180 $ 968 $ 229 Commercial and industrial 6,804 4,332 950 3,382 2,526 Commercial construction — — — — — Residential mortgages 2,117 1,902 1,902 — — Home equity 359 281 281 — — Consumer — — — — — Total $ 17,983 $ 13,663 $ 9,313 $ 4,350 $ 2,755 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
Schedule of 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: Twelve months ended December 31, 2023 (Dollars in thousands) Payment Deferrals % of Loan Class Total Commercial real estate $ 270 0.01 % Commercial and industrial 177 0.04 % Residential mortgages 31 0.01 % Total $ 478 0.01 % The following table presents the financial effect of loan modifications made to borrowers experiencing financial difficulty during the period indicated: Twelve months ended December 31, 2023 Weighted Average Payment Deferrals Commercial real estate 0.5 years Commercial and industrial 0.5 years Residential mortgages 0.5 years Balance at December 31, 2023 (Dollars in thousands) Current 30-59 Days 60-89 Days Past Due 90 Days or More Total Past Commercial real estate $ — $ — $ 270 $ — $ 270 Commercial and industrial 143 — 34 — 34 Commercial construction — — — — — Residential mortgages 31 — — — — Home equity — — — — — Consumer — — — — — Total $ 174 $ — $ 304 $ — $ 304 The following table presents the number and balance of loans modified as TDRs, by portfolio classification, during the periods indicated: December 31, 2022 (Dollars in thousands) Number of Restructurings Pre-modification Outstanding Recorded Investment Post-modification Outstanding Recorded Investment Commercial real estate 6 $ 3,342 $ 2,563 Commercial and industrial 2 225 246 Total 8 $ 3,567 $ 2,809 Payment defaults by portfolio classification, during the year indicated, on loans modified as TDRs within the preceding twelve months are detailed below: December 31, 2022 (Dollars in thousands) Number of TDRs that Defaulted Post-modification Outstanding Recorded Investment Commercial real estate 3 $ 1,044 Total 3 $ 1,044 The following table sets forth the post modification balances of TDRs listed by type of modification for TDRs that occurred during the period indicated: December 31, 2022 (Dollars in thousands) Number of Restructurings Amount Temporary interest-only payment plan 3 $ 138 Other payment concessions 5 2,671 Total 8 $ 2,809 Allowance for credit losses associated with TDR loans listed above $ 298
Schedule of Change in Provisions for Credit Losses	The following table presents changes in the provision for credit losses on loans and unfunded commitments during the years ended December 31 as indicated: (Dollars in thousands) 2023 2022 2021 Provision for credit losses on loans $ 6,460 $ 5,175 $ 543 Provision for unfunded commitments 2,789 625 1,227 Total provision for credit losses $ 9,249 $ 5,800 $ 1,770
Schedule of Allowance for Credit Losses on Financing Receivables	Changes in the allowance for credit losses for the years ended December 31, 2023, 2022 and 2021 are summarized as follows: (Dollars in thousands) 2023 2022 2021 Balance at beginning of year $ 52,640 $ 47,704 $ 44,565 CECL adjustment upon adoption — — 6,560 Provision 6,460 5,175 543 Recoveries 527 272 363 Less: Charge-offs 632 511 4,327 Balance at end of year $ 58,995 $ 52,640 $ 47,704 The following tables present changes in the ACL for loans by portfolio classification, during the periods presented below: (Dollars in thousands) Commercial Real Estate Commercial and Industrial Commercial Construction Residential Mortgage Home Equity Consumer Total Beginning Balance at December 31, 2022 $ 36,564 $ 8,896 $ 3,961 $ 2,255 $ 633 $ 331 $ 52,640 Provision for credit losses for loans 1,510 2,292 2,825 (103) (66) 2 6,460 Recoveries — 497 1 — 12 17 527 Less: Charge-offs — 596 — — — 36 632 Ending Balance at December 31, 2023 $ 38,074 $ 11,089 $ 6,787 $ 2,152 $ 579 $ 314 $ 58,995 (Dollars in thousands) Commercial Real Estate Commercial and Industrial Commercial Construction Residential Mortgage Home Equity Consumer Total Beginning Balance at December 31, 2021 $ 31,847 $ 9,574 $ 4,090 $ 1,405 $ 465 $ 323 $ 47,704 Provision for credit losses for loans 4,967 (710) (129) 850 157 40 5,175 Recoveries — 242 — — 11 19 272 Less: Charge-offs 250 210 — — — 51 511 Ending Balance at December 31, 2022 $ 36,564 $ 8,896 $ 3,961 $ 2,255 $ 633 $ 331 $ 52,640

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	Premises and equipment at December 31, 2023, and 2022, are summarized as follows: (Dollars in thousands) 2023 2022 Land and land improvements $ 9,090 $ 9,090 Bank premises and leasehold improvements 57,899 56,266 Computer software and equipment 18,636 15,636 Furniture, fixtures, and equipment 26,362 25,118 Total premises and equipment, before accumulated depreciation 111,987 106,110 Less accumulated depreciation (67,056) (61,882) Total premises and equipment, net of accumulated depreciation $ 44,931 $ 44,228

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Operating Lease Liability Maturity Table as Lessee	At December 31, 2023, the remaining undiscounted cash flows by year of these lease liabilities were as follows: (Dollars in thousands) Operating Leases 2024 $ 1,450 2025 1,457 2026 1,468 2027 1,474 2028 1,477 Thereafter 31,723 Total lease payments $ 39,049 Less: Imputed interest 14,608 Total lease liability $ 24,441

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits:
Schedule of Deposit Liabilities	Deposits at December 31, are summarized as follows: (Dollars in thousands) 2023 2022 Non-interest checking $ 1,070,104 $ 1,361,588 Interest-bearing checking 697,632 678,715 Savings 285,770 326,666 Money market 1,402,939 1,381,645 CDs $250,000 or less 295,789 187,758 CDs greater than $250,000 225,287 99,434 Deposits $ 3,977,521 $ 4,035,806
Schedule of Maturities of Time Deposits	The following table presents the scheduled maturities of CDs as of December 31, of the years indicated: (Dollars in thousands) 2023 2022 Due in less than twelve months $ 494,320 $ 227,658 Due in over one year through two years 23,737 51,392 Due in over two years through three years 2,431 6,919 Due in over three years through four years 371 400 Due in over four years through five years 179 619 Due in over five years 38 204 Total CDs $ 521,076 $ 287,192

Borrowed Funds and Subordinat_2

Borrowed Funds and Subordinated Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Borrowed Funds and Debentures	Borrowed funds and subordinated debt outstanding at December 31, for the years indicated are summarized as follows: 2023 2022 2021 (Dollars in thousands) Amount Average Amount Average Amount Average FHLB advances $ 2,830 1.71 % $ 2,913 1.71 % $ 5,479 1.07 % FRB advances 20,000 4.84 % — — % — — % Other borrowings 2,938 0.40 % 303 — % — — % Total borrowed funds $ 25,768 3.99 % $ 3,216 1.55 % $ 5,479 1.07 % Subordinated debt $ 59,498 5.84 % $ 59,182 5.66 % $ 58,979 5.54 %
Schedule of Borrowed Funds Maturity	At December 31, 2023, 2022 and 2021, the contractual maturity distribution of borrowed funds with the weighted average cost for each category is set forth below: 2023 2022 2021 (Dollars in thousands) Balance Rate Balance Rate Balance Rate Within 12 months $ 20,000 4.84 % $ — — % $ 2,485 0.29 % Between 1 and 5 years 270 — % — — % — — % Over 5 years 5,498 1.09 % 3,216 1.55 % 2,994 1.70 %
Schedule of Average Balances and Rates for Borrowed Funds	The following table summarizes the average balance and average cost of borrowed funds for the years indicated: Year ended December 31, 2023 2022 2021 (Dollars in thousands) Average Average Average Average Average Average FHLB advances $ 3,548 2.65 % $ 3,266 1.59 % $ 7,632 0.79 % FRB advances 534 3.39 % — — % — — % Other borrowings 1,008 0.13 % 20 — % — — % Total borrowed funds $ 5,090 2.23 % $ 3,286 1.58 % $ 7,632 0.79 %

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 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 for the periods presented: As of December 31, 2023 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1)(2) Liability Notional Amount Liability Derivatives (1)(2) Derivatives designated as hedging instruments Interest-rate contracts - pay fixed, receive floating $ — $ — $ 100,000 $ 760 Total cash flow hedge interest-rate swaps $ — $ — $ 100,000 $ 760 Derivatives not subject to hedge accounting Interest-rate contracts - pay floating, receive fixed $ — $ — $ 7,524 $ 630 Interest-rate contracts - pay fixed, receive floating 7,524 630 — — Risk participation agreements sold — — 46,910 65 Total derivatives not subject to hedge accounting $ 7,524 $ 630 $ 54,434 $ 695 As of December 31, 2022 (Dollars in thousands) Asset Notional Amount Asset Derivatives (1)(2) Liability Notional Amount Liability Derivatives (1)(2) 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. (2) The assets and liabilities related to the pay fixed, receive floating interest-rate contracts are subject to a master netting agreement and are presented net in the Consolidated Balance Sheet.
Schedule of Derivative Assets at Fair Value	The table below presents the carrying amount of hedged items and cumulative fair value hedging basis adjustments for the periods presented. There were no fair value hedges outstanding at December 31, 2022. As of December 31, 2023 (Dollars in thousands) Balance Sheet Location of Hedged Item Carrying Amount of Hedged Assets Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets Interest-rate contracts - loans Loans $ 100,755 $ 755 The table below presents the gains (losses) from interest rate derivatives accounted for as fair value hedges and the related hedged items. (Dollars in thousands) Affected Income Statement Line Item December 31, 2023 Derivatives designated as fair value hedges: Fair value adjustments on derivatives Net interest income $ (760) Fair value adjustments on hedged instrument Net interest income 755 Total $ (5)

Commitments, Contingencies an_2

Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Tables)	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Schedule of Financial Instruments with Off-Balance Sheet Risk	Financial instruments with off-balance sheet credit risk at December 31, 2023 and 2022 are as follows: (Dollars in thousands) 2023 2022 Commitments to originate loans $ 41,326 $ 27,148 Commitments to originate residential mortgages loans for sale — 170 Commitments to sell residential mortgage loans 200 170 Letters of credit 15,610 25,081 Unadvanced portions of commercial real estate loans 87,943 43,938 Unadvanced portions of commercial loans and lines 633,702 629,531 Unadvanced portions of construction loans (commercial & residential) 540,269 409,803 Unadvanced portions of home equity lines 156,216 146,558 Unadvanced portions of consumer loans 3,679 4,059

Comprehensive Income (Loss) (Ta

Comprehensive Income (Loss) (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Comprehensive (Loss) Income	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): Year ended December 31, 2023 Year ended December 31, 2022 (Dollars in thousands) Pre-Tax Tax (Expense) Benefit After Tax Amount Pre-Tax Tax Benefit After Tax Amount Change in fair value of debt securities $ 18,838 $ (4,279) $ 14,559 $ (132,005) $ 29,782 $ (102,223) Less: net security (losses) gains reclassified into non-interest income (2,419) 534 (1,885) (1,973) 619 (1,354) Net change in fair value of debt securities 21,257 (4,813) 16,444 (130,032) 29,163 (100,869) Total other comprehensive income (loss), net $ 21,257 $ (4,813) $ 16,444 $ (130,032) $ 29,163 $ (100,869)
Schedule of Accumulated Other Comprehensive Income (Loss)	Information on the Company's accumulated other comprehensive loss, net of tax, is comprised of the following components as of the periods indicated: Year ended December 31, 2023 Year ended December 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 income (loss), net 16,444 16,444 (100,869) (100,869) Accumulated other comprehensive loss - ending balance $ (79,763) $ (79,763) $ (96,207) $ (96,207)

Shareholders' Equity (Tables)

Shareholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [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 December 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 December 31, 2023 The Company Total Capital to risk-weighted assets $ 511,692 13.12 % $ 312,035 8.00 % N/A N/A Tier 1 Capital to risk-weighted assets 403,224 10.34 % 234,026 6.00 % N/A N/A Tier 1 Capital to average assets (or Leverage Ratio) 403,224 8.74 % 184,471 4.00 % N/A N/A Common Equity Tier 1 Capital to risk-weighted assets 403,224 10.34 % 175,520 4.50 % N/A N/A The Bank Total Capital to risk-weighted assets $ 510,645 13.09 % $ 312,035 8.00 % $ 390,044 10.00 % Tier 1 Capital to risk-weighted assets 461,675 11.84 % 234,026 6.00 % 312,035 8.00 % Tier 1 Capital to average assets (or Leverage Ratio) 461,675 10.01 % 184,471 4.00 % 230,589 5.00 % Common Equity Tier 1 Capital to risk-weighted assets 461,675 11.84 % 175,520 4.50 % 253,528 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 risk-weighted assets $ 476,307 13.49 % $ 282,567 8.00 % N/A N/A Tier 1 Capital to risk-weighted assets 372,817 10.56 % 211,926 6.00 % N/A N/A Tier 1 Capital to average assets (or Leverage Ratio) 372,817 8.10 % 184,194 4.00 % N/A N/A Common Equity Tier 1 Capital to risk-weighted assets 372,817 10.56 % 158,944 4.50 % N/A N/A The Bank Total Capital to risk-weighted assets $ 475,668 13.47 % $ 282,567 8.00 % $ 353,209 10.00 % Tier 1 Capital to risk-weighted assets 431,359 12.21 % 211,926 6.00 % 282,567 8.00 % Tier 1 Capital to average assets (or Leverage Ratio) 431,359 9.37 % 184,194 4.00 % 230,243 5.00 % Common Equity Tier 1 Capital to risk-weighted assets 431,359 12.21 % 158,944 4.50 % 229,586 6.50 % __________________________________________ (1) Before application of the capital conservation buffer of 2.50%. 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.
Schedule of Basel III Minimum Requirements at Full Phase In	The Basel III minimum capital ratio requirements as applicable to the Company and the Bank with the capital conservation buffer are summarized in the table below: Basel III Minimum for Capital Adequacy Purposes Basel III Additional Capital Conservation Buffer Basel III "Adequate" Ratio with Capital Conservation Buffer Total Capital to RWA 8.00% 2.50% 10.50% Tier 1 Capital to RWA 6.00% 2.50% 8.50% Tier 1 Capital to AA, or Leverage Ratio 4.00% N/A 4.00% Common equity tier 1 capital to RWA 4.50% 2.50% 7.00%

Employee Benefit Plans (Tables)

Employee Benefit Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Schedule of Changes in Projected Benefit Obligations	The following table provides a reconciliation of the changes in the supplemental retirement benefit obligation and the net periodic benefit cost for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Reconciliation of benefit obligation: Benefit obligation at beginning of year $ 1,420 $ 1,708 $ 1,923 Net periodic benefit cost: Interest cost 69 74 61 Actuarial gain (21) (86) — Net periodic benefit costs $ 48 $ (12) $ 61 Benefits paid (276) (276) (276) Benefit obligation at end of year $ 1,192 $ 1,420 $ 1,708 Funded status: Accrued liability as of December 31 $ (1,192) $ (1,420) $ (1,708) Discount rate used for benefit obligation (1) 5.25 % 4.75 % 3.25 % __________________________________________ (1) Management utilizes the Moody's 20-year AA corporate bond rates to establish the reasonableness of the discount rate used. The Company reviews and periodically updates the discount rate to reflect changes in bond market rates. The impact of the discount rate change is reflected as the actuarial gain or loss. The following table provides a reconciliation of the changes in the post-retirement supplemental life insurance plan obligation and the net periodic benefit cost for the years ended December 31: (Dollars in thousands) 2023 2022 2021 Reconciliation of benefit obligation: Benefit obligation at beginning of year $ 2,358 $ 2,620 $ 2,631 Net periodic benefit cost: Service cost (29) (26) (23) Interest cost 115 105 83 Actuarial gain (167) (341) (71) Total net period cost $ (81) $ (262) $ (11) Benefit obligation at end of year $ 2,277 $ 2,358 $ 2,620 Funded status: Accrued liability as of December 31 $ (2,277) $ (2,358) $ (2,620) Discount rate used for benefit obligation (1) 5.25 % 4.75 % 3.25 % __________________________________________
Schedule of Expected Benefit Payments	SERP benefits expected to be paid in each of the next five years and in the aggregate five years thereafter: (Dollars in thousands) Payments 2024 $ 276 2025 276 2026 276 2027 275 2028 165 2029-2033 119

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 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 stock options granted, including the weighted average fair value, the fair value as a percentage of the market value of the underlying stock at the date of grant and the average assumptions used in the model for the years indicated: Stock Option Awards 2022 2021 Stock options granted 17,060 17,580 Term in years 10 10 Weighted average assumptions used in the fair value model: Expected volatility 44 % 44 % Expected dividend yield 3.05 % 3.01 % Expected life in years 6.5 6.5 Risk-free interest rate 2.20 % 1.28 % Weighted average market price on date of grants $ 38.57 $ 32.73 Per share weighted average fair value $ 14.40 $ 11.95 Fair value as a percentage of market value at grant date 37 % 36 %
Schedule of Share-based Compensation, Stock Options, Activity	Stock option transactions during the year ended December 31, 2023 are summarized as follows: (Dollars in thousands, except per share data) Options Weighted Average Exercise Weighted Average Remaining Life in Years Aggregate Outstanding December 31, 2022 197,249 $ 26.33 4.4 $ 1,824 Granted — — Exercised 33,998 17.87 Forfeited/Expired 712 33.91 Outstanding December 31, 2023 162,539 $ 28.07 4.2 $ 824 Vested and Exercisable at December 31, 2023 126,161 $ 26.37 3.3 $ 777
Schedule of Unvested Options	Stock option activity during the year ended December 31, 2023 for unvested options are summarized as follows: Unvested Options Options Weighted Average Grant Date Fair Value Unvested December 31, 2022 56,257 $ 11.34 Granted — — Vested 19,879 10.24 Forfeited — — Unvested December 31, 2023 36,378 $ 11.94
Schedule of Restricted Stock Awards Granted	The table below provides a summary of restricted stock awards granted during the years indicated: Restricted Stock Awards (number of underlying shares) 2023 2022 2021 Two-year vesting 9,915 8,823 8,109 Four-year vesting 32,719 22,147 24,307 Performance-based vesting 31,270 22,254 21,559 Total restricted stock awards 73,904 53,224 53,975 Weighted average grant date fair value $ 32.04 $ 38.57 $ 32.73
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table sets forth a summary of the activity for the Company's restricted stock awards: Restricted Weighted Average Grant Price Per Share Unvested December 31, 2022 106,658 $ 34.68 Granted 73,904 32.04 Vested/released 47,822 33.20 Forfeited 2,701 33.58 Unvested December 31, 2023 130,039 $ 33.75

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The components of income tax expense for the years ended December 31, were calculated using the asset and liability method as follows: (Dollars in thousands) 2023 2022 2021 Current expense: Federal $ 10,424 $ 11,996 $ 10,786 State 4,763 4,606 3,771 Total current expense 15,187 16,602 14,557 Deferred benefit: Federal (1,425) (2,027) (945) State (575) (1,145) (25) Total deferred benefit (2,000) (3,172) (970) Total income tax expense $ 13,187 $ 13,430 $ 13,587
Schedule of Effective Income Tax Rate Reconciliation	The provision for income taxes differs from the amount computed by applying the statutory U.S. federal income tax rate of 21% for 2023, 2022 and 2021 to income before taxes as follows: (Dollars in thousands) 2023 2022 2021 Computed income tax expense at statutory rate $ 10,761 $ 11,791 $ 11,709 State income taxes, net of federal tax benefit 3,309 2,734 2,959 Tax-exempt income, net of disallowance (758) (804) (832) Bank-owned life insurance income, net (265) (252) (172) Tax (benefit) expense from stock compensation (108) (147) (85) New market tax credit (135) — — Other 383 108 8 Total income tax expense $ 13,187 $ 13,430 $ 13,587 Effective income tax rate 25.7 % 23.9 % 24.4 %
Schedule of Deferred Tax Assets and Liabilities	At December 31, the tax effects of each type of income and expense item that give rise to deferred taxes are as follows: (Dollars in thousands) 2023 2022 Deferred tax asset: Allowance for credit losses $ 18,278 $ 15,822 Depreciation 3,524 3,270 Net unrealized losses on equity securities 51 53 Net unrealized losses on debt securities 23,105 27,918 Supplemental employee retirement plans 330 932 Deferred compensation and benefits 3,976 3,042 Non-accrual interest 1,608 1,425 Stock-based compensation expense 878 724 Lease liability 6,757 6,781 Other 6 1,049 Total 58,513 61,016 Deferred tax liability: Goodwill 1,564 1,571 Deferred origination costs 848 616 Lease ROU asset 6,862 6,781 Other 73 67 Total 9,347 9,035 Net deferred tax asset $ 49,166 $ 51,981

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares	The table below presents the increase in average shares outstanding, using the treasury stock method, for the diluted earnings per share calculation for the years indicated: 2023 2022 2021 Basic weighted average common shares outstanding 12,223,626 12,103,033 12,005,838 Dilutive shares 20,410 46,744 45,455 Diluted weighted average common shares outstanding 12,244,036 12,149,777 12,051,293

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of 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: December 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 $ 661,113 $ — $ 661,113 $ — Equity securities 7,058 7,058 — — FHLB stock 2,402 — 2,402 — Interest-rate swaps 630 — 630 — Assets measured on a non-recurring basis: Individually evaluated loans (collateral dependent) $ 1,595 $ — $ — $ 1,595 Liabilities measured on a recurring basis: Interest-rate swaps $ 1,390 $ — $ 1,390 $ — RPA sold 65 — 65 — 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
Schedule of 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 December 31, 2023 and December 31, 2022: Fair Value (Dollars in thousands) December 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) $ 1,595 $ 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.
Schedule of Fair Value, by Balance Sheet Grouping	The carrying values, estimated fair values and placement in the fair value hierarchy of the Company's financial instruments for which fair value is only disclosed but not recognized on the Consolidated Balance Sheets at the dates indicated are summarized as follows: December 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 $ 200 $ 201 $ — $ 201 $ — Loans, net 3,508,636 3,353,968 — $ — 3,353,968 Financial liabilities: CDs 521,076 518,928 — 518,928 — Borrowed funds 25,768 24,081 — 24,081 — Subordinated debt 59,498 55,572 — 55,572 — 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 Inform_2

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2023
Supplemental Cash Flow Elements [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	The supplemental cash flow information for the years indicated is as follows: (Dollars in thousands) 2023 2022 2021 Supplemental financial data: Cash paid for: interest $ 45,296 $ 8,647 $ 7,880 Cash paid for: estimated income taxes 15,610 16,983 12,335 Cash paid for: lease liability 1,412 1,380 1,251 Supplemental schedule of non-cash activity: Transfer from loans to other real estate owned — — 2,400 ROU lease assets: operating leases (1) 611 31 6,608 _________________________________________ (1) Represents net new ROU lease assets added in the periods indicated.

Condensed Parent Company Only_2

Condensed Parent Company Only Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Schedule of Condensed Balance Sheet	Balance Sheets December 31, (Dollars in thousands, except per share data) 2023 2022 Assets Cash $ 2,089 $ 1,929 Investment in subsidiaries 387,978 340,966 Other assets — — Total assets $ 390,067 $ 342,895 Liabilities and Shareholders' Equity Liabilities Subordinated debt $ 59,498 $ 59,182 Accrued interest payable 1,444 1,444 Other liabilities 8 2 Total liabilities 60,950 60,628 Shareholders' equity: Preferred stock, $0.01 par value per share; 1,000,000 shares authorized; no shares issued — — Common stock $0.01 par value per share; 40,000,000 shares authorized; 12,272,674 and 12,133,516 shares issued, respectively 123 121 Additional paid-in capital 107,377 103,793 Retained earnings 301,380 274,560 Accumulated other comprehensive income (79,763) (96,207) Total shareholders' equity 329,117 282,267 Total liabilities and shareholders' equity $ 390,067 $ 342,895
Schedule of Condensed Income Statement	Statements of Income For the years ended December 31, (Dollars in thousands) 2023 2022 2021 Equity in undistributed net income of subsidiaries $ 30,315 $ 36,701 $ 22,985 Dividends distributed by subsidiaries 10,200 8,900 22,350 Total income 40,515 45,601 45,335 Interest expense 3,467 3,352 3,495 Other operating expenses 347 270 891 Total operating expenses 3,814 3,622 4,386 Income before income taxes 36,701 41,979 40,949 Benefit from income taxes (1,357) (737) (1,222) Net income $ 38,058 $ 42,716 $ 42,171
Schedule of Condensed Cash Flow Statement	Statements of Cash Flows For the years ended December 31, (Dollars in thousands) 2023 2022 2021 Cash flows from operating activities: Net income $ 38,058 $ 42,716 $ 42,171 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (30,315) (36,701) (22,985) Payment from subsidiary bank for stock compensation expense 2,305 2,315 2,094 Changes in: Net decrease (increase) in other assets (253) 205 66 Net increase (decrease) in other liabilities 322 202 (25) Net cash provided by operating activities 10,117 8,737 21,321 Cash flows from investing activities: Investment in subsidiary — — — Net cash used in investing activities — — — Cash flows from financing activities: Repayment of subordinated debt — — (14,887) Proceeds from the issuance of subordinated debt — — — Cash dividends paid, net of dividend reinvestment plan (9,734) (8,521) (7,627) Proceeds from issuance of common stock 44 47 59 Net settlement for employee tax withholding on restricted stock and options (447) (433) (346) Net proceeds from exercise of stock options 180 118 159 Net cash (used in) provided by financing activities (9,957) (8,789) (22,642) Net (decrease) increase in cash and cash equivalents 160 (52) (1,321) Cash at beginning of year 1,929 1,981 3,302 Cash at end of year $ 2,089 $ 1,929 $ 1,981

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details)	12 Months Ended
	Dec. 31, 2023 branch property payment plan segment shares	Jul. 31, 2000 branch
Summary of Significant Accounting Policies [Line Items]
Number of branches	27
Reportable operating segments | segment	1
Number of days a loan must be paid current before accrual of interest is resumed	180 days
Number of offices related to the goodwill in acquisition		2
Number of active individual stock incentive plans | plan	1
Shares remained available for future grants (in shares) | shares	370,680
Number of NMTC investments | property	1
NMTC investment, amortization period	7 years
Bank premises, land improvements and leasehold improvements | Minimum
Summary of Significant Accounting Policies [Line Items]
Premises and equipment useful life	10 years
Bank premises, land improvements and leasehold improvements | Maximum
Summary of Significant Accounting Policies [Line Items]
Premises and equipment useful life	39 years
Computer software and equipment | Minimum
Summary of Significant Accounting Policies [Line Items]
Premises and equipment useful life	3 years
Computer software and equipment | Maximum
Summary of Significant Accounting Policies [Line Items]
Premises and equipment useful life	5 years
Furniture, fixtures and equipment | Minimum
Summary of Significant Accounting Policies [Line Items]
Premises and equipment useful life	3 years
Furniture, fixtures and equipment | Maximum
Summary of Significant Accounting Policies [Line Items]
Premises and equipment useful life	10 years
Residential mortgages
Summary of Significant Accounting Policies [Line Items]
Early payment default period | payment	4
Lines of Credit and Demand Notes | Minimum
Summary of Significant Accounting Policies [Line Items]
Period that loan deferred income is amortized	3 years
Lines of Credit and Demand Notes | Maximum
Summary of Significant Accounting Policies [Line Items]
Period that loan deferred income is amortized	5 years

Investment Securities - Investm

Investment Securities - Investments Reconciliation (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 763,981	$ 940,227
Unrealized Gains	254	125
Unrealized Losses	103,122	124,250
Fair Value	661,113	816,102
Federal agency obligations
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	5,006	5,014
Unrealized Gains	0	0
Unrealized Losses	28	37
Fair Value	4,978	4,977
U.S. treasury securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	16,993	45,942
Unrealized Gains	0	0
Unrealized Losses	1,068	2,691
Fair Value	15,925	43,251
Federal agency CMO
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	396,665	474,777
Unrealized Gains	33	3
Unrealized Losses	61,947	67,798
Fair Value	334,751	406,982
Federal agency MBS
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	21,586	24,172
Unrealized Gains	31	27
Unrealized Losses	2,805	3,178
Fair Value	18,812	21,021
Taxable municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	262,168	287,435
Unrealized Gains	34	29
Unrealized Losses	35,225	48,187
Fair Value	226,977	239,277
Tax-exempt municipal securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	45,548	84,457
Unrealized Gains	156	66
Unrealized Losses	285	870
Fair Value	45,419	83,653
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	4,058	6,480
Unrealized Gains	0	0
Unrealized Losses	92	186
Fair Value	3,966	6,294
Subordinated corporate bonds
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	11,957	11,950
Unrealized Gains	0	0
Unrealized Losses	1,672	1,303
Fair Value	$ 10,285	$ 10,647

Investment Securities - Narrati

Investment Securities - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Securities, Available-for-sale [Line Items]
Accrued interest related to AFS debt securities	$ 3,100	$ 4,000
Available-for-sale, accrued interest, statement of financial position	Accrued interest receivable	Accrued interest receivable
Callable debt securities, fair value	$ 133,400
Equity securities at fair value	7,058	$ 4,269
Tax-exempt municipal securities
Debt Securities, Available-for-sale [Line Items]
Tax exempt interest earned on municipal securities	2,600	3,400	$ 3,400
Average balance tax exempt securities	64,100	86,000
Management directed investments
Debt Securities, Available-for-sale [Line Items]
Equity securities at fair value	4,400	2,900
Mutual funds
Debt Securities, Available-for-sale [Line Items]
Equity securities at fair value	2,700	1,400
Collateral pledged
Debt Securities, Available-for-sale [Line Items]
Debt securities pledged as collateral	$ 650,800	$ 804,200

Investment Securities - Continu

Investment Securities - Continuous Loss Position (Details) $ in Thousands	Dec. 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	$ 27,671	$ 354,291
Temporarily impaired debt securities, less than 12 months, unrealized losses	417	26,157
Temporarily impaired debt securities, 12 months or longer, fair value	592,979	431,932
Temporarily impaired debt securities, 12 months or longer, unrealized losses	102,705	98,093
Temporarily impaired debt securities, fair value	620,650	786,223
Temporarily impaired debt securities, unrealized loss	$ 103,122	$ 124,250
Number of holdings | investment	429	542
Federal agency obligations
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 4,978	$ 4,977
Temporarily impaired debt securities, less than 12 months, unrealized losses	28	37
Temporarily impaired debt securities, 12 months or longer, fair value	0	0
Temporarily impaired debt securities, 12 months or longer, unrealized losses	0	0
Temporarily impaired debt securities, fair value	4,978	4,977
Temporarily impaired debt securities, unrealized loss	$ 28	$ 37
Number of holdings | investment	1	1
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	15,925	40,373
Temporarily impaired debt securities, 12 months or longer, unrealized losses	1,068	2,582
Temporarily impaired debt securities, fair value	15,925	43,251
Temporarily impaired debt securities, unrealized loss	$ 1,068	$ 2,691
Number of holdings | investment	4	6
Federal agency CMO
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 8,810	$ 164,391
Temporarily impaired debt securities, less than 12 months, unrealized losses	18	13,004
Temporarily impaired debt securities, 12 months or longer, fair value	311,221	233,051
Temporarily impaired debt securities, 12 months or longer, unrealized losses	61,929	54,794
Temporarily impaired debt securities, fair value	320,031	397,442
Temporarily impaired debt securities, unrealized loss	$ 61,947	$ 67,798
Number of holdings | investment	86	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	17,114	9,165
Temporarily impaired debt securities, 12 months or longer, unrealized losses	2,805	2,381
Temporarily impaired debt securities, fair value	17,114	19,088
Temporarily impaired debt securities, unrealized loss	$ 2,805	$ 3,178
Number of holdings | investment	10	11
Taxable municipal securities
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 1,993	$ 93,345
Temporarily impaired debt securities, less than 12 months, unrealized losses	316	10,411
Temporarily impaired debt securities, 12 months or longer, fair value	223,949	144,903
Temporarily impaired debt securities, 12 months or longer, unrealized losses	34,909	37,776
Temporarily impaired debt securities, fair value	225,942	238,248
Temporarily impaired debt securities, unrealized loss	$ 35,225	$ 48,187
Number of holdings | investment	251	273
Tax-exempt municipal securities
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 11,890	$ 66,277
Temporarily impaired debt securities, less than 12 months, unrealized losses	55	870
Temporarily impaired debt securities, 12 months or longer, fair value	10,519	0
Temporarily impaired debt securities, 12 months or longer, unrealized losses	230	0
Temporarily impaired debt securities, fair value	22,409	66,277
Temporarily impaired debt securities, unrealized loss	$ 285	$ 870
Number of holdings | investment	53	112
Corporate bonds
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 0	$ 6,294
Temporarily impaired debt securities, less than 12 months, unrealized losses	0	186
Temporarily impaired debt securities, 12 months or longer, fair value	3,966	0
Temporarily impaired debt securities, 12 months or longer, unrealized losses	92	0
Temporarily impaired debt securities, fair value	3,966	6,294
Temporarily impaired debt securities, unrealized loss	$ 92	$ 186
Number of holdings | investment	18	31
Subordinated corporate bonds
Debt Securities, Available-for-sale [Line Items]
Temporarily impaired debt securities, less than 12 months, fair value	$ 0	$ 6,206
Temporarily impaired debt securities, less than 12 months, unrealized losses	0	743
Temporarily impaired debt securities, 12 months or longer, fair value	10,285	4,440
Temporarily impaired debt securities, 12 months or longer, unrealized losses	1,672	560
Temporarily impaired debt securities, fair value	10,285	10,646
Temporarily impaired debt securities, unrealized loss	$ 1,672	$ 1,303
Number of holdings | investment	6	6

Investment Securities - Maturit

Investment Securities - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortized Cost
Due in one year or less	$ 30,657
Due after one, but within five years	85,847
Due after five, but within ten years	252,508
Due after ten years	394,969
Amortized Cost	763,981	$ 940,227
Fair Value
Due in one year or less	30,252
Due after one, but within five years	81,696
Due after five, but within ten years	217,720
Due after ten years	331,445
Total debt securities	$ 661,113	$ 816,102

Investment Securities - Sales (

Investment Securities - Sales (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Amortized cost of debt securities sold	$ 87,198	$ 71,593	$ 2,931
Gross realized gains on sales	0	1,061	128
Gross realized losses on sales	(2,419)	(3,034)	0
Total proceeds from sales of debt securities	$ 84,779	$ 69,620	$ 3,059

Investment Securities - Equity

Investment Securities - Equity Securities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Net gains (losses) recognized during the period on equity securities	$ 666	$ (514)	$ 246
Less: Net losses realized on equity securities sold during the period	(5)	(17)
Unrealized gains (losses) recognized during the reporting period on equity securities still held at the end of the period	$ 671	$ (497)

Loans - Balance by Class of Loa

Loans - Balance by Class of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Loan Portfolio Classifications, Adoption of CECL
Total loans	$ 3,567,631	$ 3,180,518
Allowance for credit losses	(58,995)	(52,640)
Net loans	3,508,636	3,127,878
Commercial
Loan Portfolio Classifications, Adoption of CECL
Total loans	3,080,599	2,759,949
Commercial real estate
Loan Portfolio Classifications, Adoption of CECL
Total loans	2,064,737	1,921,410
Commercial and industrial
Loan Portfolio Classifications, Adoption of CECL
Total loans	430,749	414,490
Commercial construction
Loan Portfolio Classifications, Adoption of CECL
Total loans	585,113	424,049
Retail
Loan Portfolio Classifications, Adoption of CECL
Total loans	487,032	420,569
Residential mortgages
Loan Portfolio Classifications, Adoption of CECL
Total loans	393,142	332,632
Home equity
Loan Portfolio Classifications, Adoption of CECL
Total loans	85,375	79,807
Consumer
Loan Portfolio Classifications, Adoption of CECL
Total loans	$ 8,515	$ 8,130

Loans - Loan Categories Narrati

Loans - Loan Categories Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gross loans
Loan origination fees	$ 5.4	$ 5.2
Accrued interest receivable on loans	$ 16.1	$ 13.1
Accrued interest, statement of financial position	Accrued interest receivable	Accrued interest receivable
Outstanding loan balances to related parties	$ 31.4	$ 33.5
Unadvanced lines of credit available to related parties	35.7	12.5
New loans and net increases to loan balances to related parties during period	1.5	5.2
Principal paydowns on related party loans	19.7	11.4
Commercial
Gross loans
Participation loans amount	126.6	94.8
Participations loans sold that are still serviced amount	69.8	59.1
Tax exempt interest income on qualified commercial loans	2	1.7	$ 1.8
Average tax exempt loan balances	47	63.9
Residential mortgages
Gross loans
Amount of loans serviced for others	$ 7.7	$ 8.9

Loans - Loans Serving as Collat

Loans - Loans Serving as Collateral (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	$ 3,567,631	$ 3,180,518
Commercial real estate
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	2,064,737	1,921,410
Residential mortgages
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	393,142	332,632
Home equity
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	85,375	79,807
Asset Pledged as Collateral | Federal Home Loan Bank Advances
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	900,433	462,577
Asset Pledged as Collateral | Federal Home Loan Bank Advances | Commercial real estate
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	495,831	113,830
Asset Pledged as Collateral | Federal Home Loan Bank Advances | Residential mortgages
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	369,062	309,023
Asset Pledged as Collateral | Federal Home Loan Bank Advances | Home equity
Financial Instruments Owned and Pledged as Collateral [Line Items]
Total loans	$ 35,540	$ 39,724

Credit Risk Management and AC_3

Credit Risk Management and ACL for Loans - Credit Risk Indicators (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Term Loans By Origination Year
Year one	$ 569,536	$ 718,722
Year two	722,556	681,657
Year three	628,288	323,871
Year four	296,326	307,322
Year five	281,073	158,322
Prior	783,591	710,094
Revolving Loans	277,820	274,215
Revolving Loans Converted to Term	8,441	6,315
Total loans	3,567,631	3,180,518
Current period charge-offs
Year one	50
Year two	248
Year three	0
Year four	0
Year five	67
Prior	267
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	632
Commercial real estate
Term Loans By Origination Year
Year one	215,710	391,515
Year two	388,699	382,060
Year three	367,642	204,125
Year four	201,621	220,331
Year five	218,513	117,620
Prior	659,865	604,212
Revolving Loans	12,130	1,347
Revolving Loans Converted to Term	557	200
Total loans	2,064,737	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
Term Loans By Origination Year
Year one	215,679	391,515
Year two	371,606	381,771
Year three	367,011	204,125
Year four	201,621	218,664
Year five	217,055	114,175
Prior	641,034	577,354
Revolving Loans	12,130	1,347
Revolving Loans Converted to Term	107	200
Total loans	2,026,243	1,889,151
Commercial real estate | Special mention
Term Loans By Origination Year
Year one	31	0
Year two	15,782	0
Year three	0	0
Year four	0	507
Year five	489	2,041
Prior	9,948	16,248
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	26,250	18,796
Commercial real estate | Substandard
Term Loans By Origination Year
Year one	0	0
Year two	1,311	289
Year three	631	0
Year four	0	1,160
Year five	969	1,404
Prior	8,883	10,610
Revolving Loans	0	0
Revolving Loans Converted to Term	450	0
Total loans	12,244	13,463
Commercial and industrial
Term Loans By Origination Year
Year one	73,608	59,824
Year two	51,990	53,078
Year three	45,296	33,027
Year four	24,848	29,312
Year five	23,940	13,568
Prior	45,019	44,327
Revolving Loans	159,008	177,766
Revolving Loans Converted to Term	7,040	3,588
Total loans	430,749	414,490
Current period charge-offs
Year one	15
Year two	248
Year three	0
Year four	0
Year five	67
Prior	266
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	596
Commercial and industrial | Pass
Term Loans By Origination Year
Year one	73,608	59,824
Year two	51,990	53,059
Year three	45,278	33,027
Year four	24,778	29,293
Year five	23,724	13,364
Prior	44,609	43,724
Revolving Loans	156,465	171,670
Revolving Loans Converted to Term	3,402	3,235
Total loans	423,854	407,196
Commercial and industrial | Special mention
Term Loans By Origination Year
Year one	0	0
Year two	0	0
Year three	0	0
Year four	70	11
Year five	215	66
Prior	201	278
Revolving Loans	2,227	3,132
Revolving Loans Converted to Term	223	0
Total loans	2,936	3,487
Commercial and industrial | Substandard
Term Loans By Origination Year
Year one	0	0
Year two	0	19
Year three	18	0
Year four	0	8
Year five	1	138
Prior	209	325
Revolving Loans	316	2,964
Revolving Loans Converted to Term	3,415	353
Total loans	3,959	3,807
Commercial construction
Term Loans By Origination Year
Year one	192,462	151,107
Year two	172,218	169,843
Year three	143,203	35,651
Year four	22,017	35,089
Year five	17,420	7,729
Prior	10,532	3,379
Revolving Loans	27,261	19,778
Revolving Loans Converted to Term	0	1,473
Total loans	585,113	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
Term Loans By Origination Year
Year one	192,462	151,107
Year two	164,313	169,549
Year three	143,203	35,651
Year four	22,017	31,189
Year five	16,247	7,729
Prior	10,532	3,379
Revolving Loans	27,261	19,778
Revolving Loans Converted to Term	0	1,473
Total loans	576,035	419,855
Commercial construction | Special mention
Term Loans By Origination Year
Year one	0	0
Year two	7,905	0
Year three	0	0
Year four	0	3,900
Year five	1,173	0
Prior	0	0
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	9,078	3,900
Commercial construction | Substandard
Term Loans By Origination Year
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
Term Loans By Origination Year
Year one	82,848	112,804
Year two	107,222	73,955
Year three	70,215	49,549
Year four	46,674	21,200
Year five	20,260	18,799
Prior	65,923	56,325
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	393,142	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
Term Loans By Origination Year
Year one	82,848	112,804
Year two	107,222	73,955
Year three	69,979	49,549
Year four	46,674	20,140
Year five	19,205	18,799
Prior	65,311	54,620
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	391,239	329,867
Residential mortgages | Special mention
Term Loans By Origination Year
Year one	0	0
Year two	0	0
Year three	0	0
Year four	0	0
Year five	0	0
Prior	109	325
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	109	325
Residential mortgages | Substandard
Term Loans By Origination Year
Year one	0	0
Year two	0	0
Year three	236	0
Year four	0	1,060
Year five	1,055	0
Prior	503	1,380
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	1,794	2,440
Home equity
Term Loans By Origination Year
Year one	1,203	328
Year two	775	869
Year three	561	456
Year four	444	345
Year five	317	0
Prior	1,810	1,431
Revolving Loans	79,421	75,324
Revolving Loans Converted to Term	844	1,054
Total loans	85,375	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 | Pass
Term Loans By Origination Year
Year one	1,203	328
Year two	775	596
Year three	561	456
Year four	444	345
Year five	317	0
Prior	1,738	1,220
Revolving Loans	79,421	75,324
Revolving Loans Converted to Term	636	1,054
Total loans	85,095	79,323
Home equity | Substandard
Term Loans By Origination Year
Year one	0	0
Year two	0	273
Year three	0	0
Year four	0	0
Year five	0	0
Prior	72	211
Revolving Loans	0	0
Revolving Loans Converted to Term	208	0
Total loans	280	484
Consumer
Term Loans By Origination Year
Year one	3,705	3,144
Year two	1,652	1,852
Year three	1,371	1,063
Year four	722	1,045
Year five	623	606
Prior	442	420
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	8,515	8,130
Current period charge-offs
Year one	35
Year two	0
Year three	0
Year four	0
Year five	0
Prior	1
Revolving Loans	0
Revolving Loans Converted to Term	0
Total	36
Consumer | Pass
Term Loans By Origination Year
Year one	3,705	3,144
Year two	1,652	1,852
Year three	1,371	1,063
Year four	722	1,045
Year five	623	606
Prior	442	420
Revolving Loans	0	0
Revolving Loans Converted to Term	0	0
Total loans	$ 8,515	$ 8,130

Credit Risk Management and AC_4

Credit Risk Management and ACL for Loans - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans	$ 3,567,631,000	$ 3,180,518,000
Adversely classified loans to all loans, ratio	1.59%	1.48%
The ratio of non-accrual loans to total loans	0.32%	0.19%
Total accruing impaired loans	$ 2,400,000	$ 19,500,000
Total non accruing impaired loans	11,300,000	5,700,000
Loan, subsequent default	0	1,044,000
Total TDR loans		8,400,000
TDR loans on accrual status		6,000,000
TDR loans included in non-performing loans		2,400,000
Charge-offs associated with new TDRs		0
Allowance for credit losses	$ 58,995,000	$ 52,640,000
Allowance for credit losses to total loans ratio	1.65%	1.66%
Provision for unfunded commitments
Financing Receivable, Allowance for Credit Loss [Line Items]
Allowance for credit losses	$ 7,100,000	$ 4,300,000
Collateral pledged
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans	13,700,000	25,200,000
Criticized
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans	$ 56,700,000	$ 47,000,000

Credit Risk Management and AC_5

Credit Risk Management and ACL for Loans - Past Due and Non-Accrual Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Aging of Financing Receivables [Line Items]
Total loans	$ 3,567,631	$ 3,180,518
Total Non-accrual Loans	11,414	6,122
Non-accrual Loans without a Specific Reserve	6,919	4,702
Non-accrual Loans with a Specific Reserve	4,495	1,420
Related Specific Reserve	2,887	680
Total Past Due Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	6,732	9,045
30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	3,184	5,319
60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	840	1,362
Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	2,708	2,364
Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	3,560,899	3,171,473
Commercial real estate
Schedule of Aging of Financing Receivables [Line Items]
Total loans	2,064,737	1,921,410
Total Non-accrual Loans	5,369	3,355
Non-accrual Loans without a Specific Reserve	4,400	2,317
Non-accrual Loans with a Specific Reserve	969	1,038
Related Specific Reserve	229	298
Commercial real estate | Total Past Due Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	3,289	5,717
Commercial real estate | 30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	1,181	2,818
Commercial real estate | 60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	774	1,268
Commercial real estate | Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	1,334	1,631
Commercial real estate | Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	2,061,448	1,915,693
Commercial and industrial
Schedule of Aging of Financing Receivables [Line Items]
Total loans	430,749	414,490
Total Non-accrual Loans	4,262	730
Non-accrual Loans without a Specific Reserve	736	348
Non-accrual Loans with a Specific Reserve	3,526	382
Related Specific Reserve	2,658	382
Commercial and industrial | Total Past Due Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	724	1,042
Commercial and industrial | 30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	660	786
Commercial and industrial | 60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	64	39
Commercial and industrial | Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	217
Commercial and industrial | Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	430,025	413,448
Commercial construction
Schedule of Aging of Financing Receivables [Line Items]
Total loans	585,113	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 [Line Items]
Total loans	0	706
Commercial construction | 30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	412
Commercial construction | 60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	0
Commercial construction | Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	294
Commercial construction | Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	585,113	423,343
Residential mortgages
Schedule of Aging of Financing Receivables [Line Items]
Total loans	393,142	332,632
Total Non-accrual Loans	1,526	1,532
Non-accrual Loans without a Specific Reserve	1,526	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 [Line Items]
Total loans	2,542	1,323
Residential mortgages | 30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	1,265	1,119
Residential mortgages | 60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	55
Residential mortgages | Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	1,277	149
Residential mortgages | Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	390,600	331,309
Home equity
Schedule of Aging of Financing Receivables [Line Items]
Total loans	85,375	79,807
Total Non-accrual Loans	257	211
Non-accrual Loans without a Specific Reserve	257	211
Non-accrual Loans with a Specific Reserve	0	0
Related Specific Reserve	0	0
Home equity | Total Past Due Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	150	236
Home equity | 30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	53	163
Home equity | 60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	0
Home equity | Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	97	73
Home equity | Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	85,225	79,571
Consumer
Schedule of Aging of Financing Receivables [Line Items]
Total loans	8,515	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 [Line Items]
Total loans	27	21
Consumer | 30-59 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	25	21
Consumer | 60-89 Days Past Due
Schedule of Aging of Financing Receivables [Line Items]
Total loans	2	0
Consumer | Past Due 90 Days or More
Schedule of Aging of Financing Receivables [Line Items]
Total loans	0	0
Consumer | Current Loans
Schedule of Aging of Financing Receivables [Line Items]
Total loans	$ 8,488	$ 8,109

Credit Risk Management and AC_6

Credit Risk Management and ACL for Loans - Interest Lost On Non-accrual Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Receivables [Abstract]
Income that would have been recognized if non-accrual loans had been on accrual	$ 1,285	$ 1,083	$ 2,028
Less income recognized	191	1,050	633
Reduction in interest income	$ 1,094	$ 33	$ 1,395

Credit Risk Management and AC_7

Credit Risk Management and ACL for Loans - Impaired Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	$ 17,983	$ 30,516
Total Recorded Investment in Collateral Dependent Loans	13,663	25,198
Recorded Investment without a Specific Reserve	9,313	24,160
Recorded Investment with a Specific Reserve	4,350	1,038
Related Specific Reserve	2,755	298
Commercial real estate
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	8,703	24,530
Total Recorded Investment in Collateral Dependent Loans	7,148	21,916
Recorded Investment without a Specific Reserve	6,180	20,878
Recorded Investment with a Specific Reserve	968	1,038
Related Specific Reserve	229	298
Commercial and industrial
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	6,804	3,210
Total Recorded Investment in Collateral Dependent Loans	4,332	863
Recorded Investment without a Specific Reserve	950	863
Recorded Investment with a Specific Reserve	3,382	0
Related Specific Reserve	2,526	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	2,117	2,096
Total Recorded Investment in Collateral Dependent Loans	1,902	1,914
Recorded Investment without a Specific Reserve	1,902	1,914
Recorded Investment with a Specific Reserve	0	0
Related Specific Reserve	0	0
Home equity
Financing Receivable, Impaired [Line Items]
Unpaid Contractual Principal Balance	359	386
Total Recorded Investment in Collateral Dependent Loans	281	211
Recorded Investment without a Specific Reserve	281	211
Recorded Investment with a Specific Reserve	0	0
Related Specific Reserve	0	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

Credit Risk Management and AC_8

Credit Risk Management and ACL for Loans - Loan Modifications (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 174
Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	304
30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	304
Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 478
% 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 | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 0
Commercial real estate | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	270
Commercial real estate | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial real estate | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	270
Commercial real estate | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial real estate | Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 270
% 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 | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 143
Commercial and industrial | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	34
Commercial and industrial | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial and industrial | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	34
Commercial and industrial | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial and industrial | Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 177
% of Loan Class Total	0.04%
Commercial construction | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 0
Commercial construction | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial construction | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial construction | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Commercial construction | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 0
Residential mortgages
Financing Receivable, Troubled Debt Restructuring [Line Items]
Weighted Average Payment Deferrals	6 months
Residential mortgages | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 31
Residential mortgages | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Residential mortgages | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Residential mortgages | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Residential mortgages | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Residential mortgages | Payment Deferrals
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 31
% of Loan Class Total	0.01%
Home equity | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 0
Home equity | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Home equity | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Home equity | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Home equity | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Consumer | Current
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Consumer | Total Past Due Loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Consumer | 30-59 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Consumer | 60-89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	0
Consumer | Past Due 90 Days or More
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment Deferrals	$ 0

Credit Risk Management and AC_9

Credit Risk Management and ACL for Loans - Troubled Debt Restructures and Prior Period Trouble Debt Restructures (Details)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) loan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan		8
Pre-modification Outstanding Recorded Investment		$ 3,567,000
Post-modification Outstanding Recorded Investment		$ 2,809,000
Number of TDRs that Defaulted | loan		3
Post-modification Outstanding Recorded Investment	$ 0	$ 1,044,000
Allowance for credit losses associated with TDR loans listed above		$ 298,000
Temporary interest-only payment plan
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan		3
Post-modification Outstanding Recorded Investment		$ 138,000
Other payment concessions
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan		5
Post-modification Outstanding Recorded Investment		$ 2,671,000
Commercial real estate
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan		6
Pre-modification Outstanding Recorded Investment		$ 3,342,000
Post-modification Outstanding Recorded Investment		$ 2,563,000
Number of TDRs that Defaulted | loan		3
Post-modification Outstanding Recorded Investment		$ 1,044,000
Commercial and industrial
Financing Receivable, Troubled Debt Restructuring [Line Items]
Number of Restructurings | loan		2
Pre-modification Outstanding Recorded Investment		$ 225,000
Post-modification Outstanding Recorded Investment		$ 246,000

Credit Risk Management and A_10

Credit Risk Management and ACL for Loans - Change In Provisions For Credits Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses	$ 9,249	$ 5,800	$ 1,770
Provision for credit losses on loans
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses	6,460	5,175	543
Provision for unfunded commitments
Financing Receivable, Allowance for Credit Loss [Line Items]
Provision for credit losses	$ 2,789	$ 625	$ 1,227

Credit Risk Management and A_11

Credit Risk Management and ACL for Loans - ACL Activity (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	$ 52,640
Provision for credit losses for loans	9,249	$ 5,800	$ 1,770
Allowance for credit losses, ending balance	58,995	52,640
Provision for credit losses on loans
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	52,640	47,704	44,565
Provision for credit losses for loans	6,460	5,175	543
Recoveries	527	272	363
Less: Charge-offs	632	511	4,327
Allowance for credit losses, ending balance	58,995	52,640	47,704
Provision for credit losses on loans | Commercial real estate
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	36,564	31,847
Provision for credit losses for loans	1,510	4,967
Recoveries	0	0
Less: Charge-offs	0	250
Allowance for credit losses, ending balance	38,074	36,564	31,847
Provision for credit losses on loans | Commercial and industrial
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	8,896	9,574
Provision for credit losses for loans	2,292	(710)
Recoveries	497	242
Less: Charge-offs	596	210
Allowance for credit losses, ending balance	11,089	8,896	9,574
Provision for credit losses on loans | Commercial construction
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	3,961	4,090
Provision for credit losses for loans	2,825	(129)
Recoveries	1	0
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	6,787	3,961	4,090
Provision for credit losses on loans | Residential mortgages
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	2,255	1,405
Provision for credit losses for loans	(103)	850
Recoveries	0	0
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	2,152	2,255	1,405
Provision for credit losses on loans | Home equity
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	633	465
Provision for credit losses for loans	(66)	157
Recoveries	12	11
Less: Charge-offs	0	0
Allowance for credit losses, ending balance	579	633	465
Provision for credit losses on loans | Consumer
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	331	323
Provision for credit losses for loans	2	40
Recoveries	17	19
Less: Charge-offs	36	51
Allowance for credit losses, ending balance	314	331	323
CECL adjustment upon adoption | Provision for credit losses on loans
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit losses, beginning balance	$ 0	0	6,560
Allowance for credit losses, ending balance		$ 0	$ 0

Credit Risk Management and A_12

Credit Risk Management and ACL for Loans - Other Real Estate Owned (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) property	Dec. 31, 2022 USD ($) property	Dec. 31, 2021 USD ($) property
Accounts, Notes, Loans and Financing Receivable [Line Items]
Carrying value of OREO	$ 0	$ 0
OREO sold | property	0	0	1
OREO additions | property	0	0	1
Consumer mortgage loans in process of foreclosure	$ 1,200,000	$ 0
Other real estate owned
Accounts, Notes, Loans and Financing Receivable [Line Items]
OREO fair value adjustment	$ 0	$ 0	$ 0

Premises and Equipment (Details

Premises and Equipment (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Gross premises and equipment	$ 111,987	$ 106,110
Less accumulated depreciation	(67,056)	(61,882)
Total premises and equipment, net of accumulated depreciation	44,931	44,228
Depreciation expense	5,300	5,300	$ 6,200
Land and land improvements
Property, Plant and Equipment [Line Items]
Gross premises and equipment	9,090	9,090
Bank premises and leasehold improvements
Property, Plant and Equipment [Line Items]
Gross premises and equipment	57,899	56,266
Computer software and equipment
Property, Plant and Equipment [Line Items]
Gross premises and equipment	18,636	15,636
Furniture, fixtures and equipment
Property, Plant and Equipment [Line Items]
Gross premises and equipment	$ 26,362	$ 25,118

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) lease	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Leases [Abstract]
Number of operating leases | lease	16
Operating lease expense | $	$ 1.6	$ 1.6	$ 1.5
Weighted average remaining lease term on operating leases	28 years 4 months 24 days	29 years 4 months 24 days
Weighted average discount rate for operating leases	3.55%	3.51%

Leases - Maturities (Details)

Leases - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Leases [Abstract]
2024	$ 1,450
2025	1,457
2026	1,468
2027	1,474
2028	1,477
Thereafter	31,723
Total lease payments	39,049
Less: Imputed interest	14,608
Total lease liability	$ 24,441	$ 24,415

Deposits - Deposit Liabilities

Deposits - Deposit Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Interest [Abstract]
Non-interest checking	$ 1,070,104	$ 1,361,588
Interest-bearing checking	697,632	678,715
Savings	285,770	326,666
Money market	1,402,939	1,381,645
CDs $250,000 or less	295,789	187,758
CDs greater than $250,000	225,287	99,434
Deposits	$ 3,977,521	$ 4,035,806

Deposits - Narrative (Details)

Deposits - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Interest [Abstract]
Brokered deposits	$ 0	$ 0
Reciprocal deposits	835,000	589,700
Overdrawn deposits reclassified as loans	$ 498	$ 490

Deposits - Deposit Maturities (

Deposits - Deposit Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Banking and Thrift, Interest [Abstract]
Due in less than twelve months	$ 494,320	$ 227,658
Due in over one year through two years	23,737	51,392
Due in over two years through three years	2,431	6,919
Due in over three years through four years	371	400
Due in over four years through five years	179	619
Due in over five years	38	204
Total CDs	$ 521,076	$ 287,192

Borrowed Funds and Subordinat_3

Borrowed Funds and Subordinated Debt - Schedule of Borrowed Funds and Debentures (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
FHLB advances	$ 2,830	$ 2,913	$ 5,479
FRB advances	20,000	0	0
Other borrowings	2,938	303	0
Total borrowed funds	25,768	3,216	5,479
Subordinated debt	$ 59,498	$ 59,182	$ 58,979
FHLB advances, average rate	1.71%	1.71%	1.07%
FRB advances, average rate	4.84%	0%	0%
Other borrowings, average rate	0.40%	0%	0%
Total borrowed funds, average rate	3.99%	1.55%	1.07%
Subordinated debt, average rate	5.84%	5.66%	5.54%

Borrowed Funds and Subordinat_4

Borrowed Funds and Subordinated Debt - Maturities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Balance
Within 12 months	$ 20,000	$ 0	$ 2,485
Between 1 and 5 years	270	0	0
Over 5 years	$ 5,498	$ 3,216	$ 2,994
Rate
Within 12 months	4.84%	0%	0.29%
Between 1 and 5 years	0%	0%	0%
Over 5 years	1.09%	1.55%	1.70%

Borrowed Funds and Subordinat_5

Borrowed Funds and Subordinated Debt - Narrative (Details) - USD ($) $ in Thousands	Jul. 07, 2020	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Maximum FHLB and other borrowings outstanding at any month end		$ 25,800	$ 4,200	$ 8,600
Subordinated debt		59,498	$ 59,182	$ 58,979
Fixed-to Floating Rate Subordinated Notes
Debt Instrument [Line Items]
Subordinated debt, rate	5.25%
Original debt issuance costs	$ 1,200
Line of credit | FHLB
Debt Instrument [Line Items]
Remaining borrowing capacity at FHLB		860,000
Line of credit | Federal Reserve Bank of Boston | Federal Reserve Bank Discount Window
Debt Instrument [Line Items]
Current borrowing capacity at FRB		$ 320,000

Borrowed Funds and Subordinat_6

Borrowed Funds and Subordinated Debt - Average Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
FHLB advances, average balance	$ 3,548	$ 3,266	$ 7,632
FRB advances, average balance	534	0	0
Other borrowings, average balance	1,008	20	0
Total borrowed funds, average balance	$ 5,090	$ 3,286	$ 7,632
FHLB advances, average rate	2.65%	1.59%	0.79%
FRB advance, average rate	3.39%	0%	0%
Other borrowings, average rate	0.13%	0%	0%
Total borrowed funds, average rate	2.23%	1.58%	0.79%

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities - Derivatives, Fair Value and Classification (Details) - Interest-rate swaps - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Not Designated as Hedging Instrument
Derivative [Line Items]
Asset Notional Amount	$ 7,524	$ 7,777
Asset Derivatives	630	782
Liability Notional Amount	54,434	32,437
Liability Derivatives	695	855
Not Designated as Hedging Instrument | Pay floating, receive fixed
Derivative [Line Items]
Asset Notional Amount	0	0
Asset Derivatives	0	0
Liability Notional Amount	7,524	7,777
Liability Derivatives	630	782
Not Designated as Hedging Instrument | Pay fixed, receive floating
Derivative [Line Items]
Asset Notional Amount	7,524	7,777
Asset Derivatives	630	782
Liability Notional Amount	0	0
Liability Derivatives	0	0
Not Designated as Hedging Instrument | Risk participation agreements sold
Derivative [Line Items]
Asset Notional Amount	0	0
Asset Derivatives	0	0
Liability Notional Amount	46,910	24,660
Liability Derivatives	65	$ 73
Cash Flow Hedging | Hedging instrument
Derivative [Line Items]
Asset Notional Amount	0
Asset Derivatives	0
Liability Notional Amount	100,000
Liability Derivatives	760
Cash Flow Hedging | Hedging instrument | Pay fixed, receive floating
Derivative [Line Items]
Asset Notional Amount	0
Asset Derivatives	0
Liability Notional Amount	100,000
Liability Derivatives	$ 760

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) derivativeInstrument counterparty	Dec. 31, 2022 USD ($) derivativeInstrument	Dec. 31, 2021 USD ($)
Derivative [Line Items]
Number of counterparties | counterparty	2
Interest rate derivative liabilities, at fair value	$ 130,000
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	$ 0
Counterparty credit risk exposure on interest rate swaps	0	782,000
Collateral posted for interest-rate swaps	570,000	0
Interest-rate swaps | Two counterparties
Derivative [Line Items]
Collateral posted for interest-rate swaps	$ 590,000	$ 27,000
Interest-rate swaps | Fair Value Hedging | Hedging instrument
Derivative [Line Items]
Number of fixed interest rate swap | derivativeInstrument	3
Derivative, term of contract	2 years
Derivative, notional amount	$ 100,000,000

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities - Derivative Assets at Fair Value (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Derivatives designated as fair value hedges:
Fair value adjustments on derivatives	$ (760)
Fair value adjustments on hedged instrument	755
Total	(5)
Loans
Derivative [Line Items]
Carrying Amount of Hedged Assets	100,755
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets	$ 755

Commitments, Contingencies an_3

Commitments, Contingencies and Financial Instruments with Off-Balance Sheet Risk and Concentrations of Credit Risk (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) payment	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Commitments to originate loans	$ 41,326	$ 27,148
Commitments to sell residential mortgage loans	200	170
Letters of credit	15,610	25,081
Residential mortgages
Other Commitments [Line Items]
Commitments to originate residential mortgages loans for sale	$ 0	170
Early payment default period | payment	4
Commercial real estate
Other Commitments [Line Items]
Unadvanced portions	$ 87,943	43,938
Commercial and industrial
Other Commitments [Line Items]
Unadvanced portions	633,702	629,531
Commercial and residential construction
Other Commitments [Line Items]
Unadvanced portions	540,269	409,803
Home equity
Other Commitments [Line Items]
Unadvanced portions	156,216	146,558
Consumer Loan
Other Commitments [Line Items]
Unadvanced portions	$ 3,679	$ 4,059

Comprehensive Income (Loss) - R

Comprehensive Income (Loss) - Reconciliation of Changes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net change in fair value, after reclassifications, pre tax	$ 21,257	$ (130,032)
Net change in fair value , after reclassification, tax	(4,813)	29,163
Total other comprehensive income (loss), net	16,444	(100,869)	$ (17,531)
Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income (Loss) [Line Items]
Change in fair value, before reclassifications, pre tax	18,838	(132,005)
Change in fair value, before reclassifications, tax (expense) benefit	(4,279)	29,782
Change in fair value, before reclassifications, net of tax	14,559	(102,223)
Reclassification, pre tax	(2,419)	(1,973)
Reclassification, tax (expense) benefit	534	619
Reclassifications, net of tax	(1,885)	(1,354)
Net change in fair value, after reclassifications, pre tax	21,257	(130,032)
Net change in fair value , after reclassification, tax	(4,813)	29,163
Total other comprehensive income (loss), net	$ 16,444	$ (100,869)

Comprehensive Income (Loss) - A

Comprehensive Income (Loss) - AOCI Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	$ 282,267	$ 346,895	$ 334,426
Total other comprehensive income (loss), net	16,444	(100,869)	(17,531)
Balance, ending	329,117	282,267	346,895
Total
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(96,207)	4,662	22,193
Balance, ending	(79,763)	(96,207)	4,662
Unrealized Gains (Losses) on Debt Securities
Accumulated Other Comprehensive Income [Roll Forward]
Balance, beginning	(96,207)	4,662
Total other comprehensive income (loss), net	16,444	(100,869)
Balance, ending	$ (79,763)	$ (96,207)	$ 4,662

Shareholders' Equity - Narrativ

Shareholders' Equity - Narrative (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) vote $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Common stock, shares issued (in shares)	12,272,674	12,133,516
Common stock, shares outstanding (in shares)	12,272,674	12,133,516
Common stock, voting rights, votes per share | vote	1
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.01	$ 0.01
Preferred stock, shares issued (in shares)	0	0
Basel III additional capital conservation buffer at full phase-in	2.50%	2.50%
Common stock dividend declared | $	$ 11,238	$ 9,917	$ 8,877
Common stock issued under dividend reinvestment plan | $	1,504	1,396	1,250
Retained Earnings
Class of Stock [Line Items]
Common stock dividend declared | $	$ 11,238	$ 9,917	$ 8,877
Common Stock
Class of Stock [Line Items]
Common stock, shares outstanding (in shares)	12,272,674	12,133,516	12,038,382	11,937,795
Common stock issued under dividend reinvestment plan, shares	50,443	40,640	36,651
Common stock issued under dividend reinvestment plan | $	$ 1
Series A Junior Participating Preferred Stock
Class of Stock [Line Items]
Price per one one-hundredth of a share | $ / shares	$ 122.50
Minimum acquisition percentage to trigger the exercise of the right to purchase	10%

Shareholders' Equity - Regulato

Shareholders' Equity - Regulatory Capital Requirements (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Total Capital to risk-weighted assets, actual, amount	$ 511,692	$ 476,307
Total Capital to risk-weighted assets, actual, ratio	0.1312	0.1349
Total Capital to risk-weighted assets, minimum capital for capital adequacy purposes, amount	$ 312,035	$ 282,567
Total Capital to risk-weighted assets, minimum capacity for adequacy purposes, ratio	0.0800	0.0800
Tier 1 Capital to risk-weighted assets, actual, amount	$ 403,224	$ 372,817
Tier 1 Capital to risk-weighted assets, actual, ratio	0.1034	0.1056
Tier 1 Capital to risk-weighted assets, minimum capital for capital adequacy purposes, amount	$ 234,026	$ 211,926
Tier 1 Capital to risk-weighted assets, minimum capacity for capital adequacy purposes, ratio	0.0600	0.0600
Tier 1 Capital to average assets leverage ratio, actual, amount	$ 403,224	$ 372,817
Tier 1 Capital to average assets leverage ratio, actual, ratio	0.0874	0.0810
Tier 1 Capital to average assets leverage ratio, minimum capital for capital adequacy purposes, amount	$ 184,471	$ 184,194
Tier 1 Capital to average assets leverage ratio, minimum capacity for capital adequacy purposes, ratio	0.0400	0.0400
Common Equity Tier 1 Capital to risk-weighted assets, actual, amount	$ 403,224	$ 372,817
Common Equity Tier 1 Capital to risk-weighted assets, actual, ratio	10.34%	10.56%
Common Equity Tier 1 Capital to risk-weighted assets, minimum capital for capital adequacy purposes, amount	$ 175,520	$ 158,944
Common Equity Tier 1 Capital to risk-weighted assets, 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 risk-weighted assets, actual, amount	$ 510,645	$ 475,668
Total Capital to risk-weighted assets, actual, ratio	0.1309	0.1347
Total Capital to risk-weighted assets, minimum capital for capital adequacy purposes, amount	$ 312,035	$ 282,567
Total Capital to risk-weighted assets, minimum capacity for adequacy purposes, ratio	0.0800	0.0800
Total Capital to risk-weighted assets, minimum capital to be well capitalized, amount	$ 390,044	$ 353,209
Total Capital to risk-weighted assets, minimum capital to be well capitalized, ratio	0.1000	0.1000
Tier 1 Capital to risk-weighted assets, actual, amount	$ 461,675	$ 431,359
Tier 1 Capital to risk-weighted assets, actual, ratio	0.1184	0.1221
Tier 1 Capital to risk-weighted assets, minimum capital for capital adequacy purposes, amount	$ 234,026	$ 211,926
Tier 1 Capital to risk-weighted assets, minimum capacity for capital adequacy purposes, ratio	0.0600	0.0600
Tier 1 Capital to risk-weighted assets, minimum capital to be well capitalized, amount	$ 312,035	$ 282,567
Tier 1 Capital to risk-weighted assets, minimum capital to be well capitalized, ratio	0.0800	0.0800
Tier 1 Capital to average assets leverage ratio, actual, amount	$ 461,675	$ 431,359
Tier 1 Capital to average assets leverage ratio, actual, ratio	0.1001	0.0937
Tier 1 Capital to average assets leverage ratio, minimum capital for capital adequacy purposes, amount	$ 184,471	$ 184,194
Tier 1 Capital to average assets leverage ratio, minimum capacity for capital adequacy purposes, ratio	0.0400	0.0400
Tier 1 Capital to average assets leverage ratio, minimum capital to be well capitalized, amount	$ 230,589	$ 230,243
Tier 1 Capital to average assets leverage ratio, minimum capital to be well capitalized, ratio	0.0500	0.0500
Common Equity Tier 1 Capital to risk-weighted assets, actual, amount	$ 461,675	$ 431,359
Common Equity Tier 1 Capital to risk-weighted assets, actual, ratio	11.84%	12.21%
Common Equity Tier 1 Capital to risk-weighted assets, minimum capital for capital adequacy purposes, amount	$ 175,520	$ 158,944
Common Equity Tier 1 Capital to risk-weighted assets, minimum capital for capital adequacy purposes, ratio	4.50%	4.50%
Common Equity Tier 1 Capital to risk-weighted assets, minimum capital to be well capitalized, amount	$ 253,528	$ 229,586
Common Equity Tier 1 Capital to risk-weighted assets, minimum capital to be well capitalized, ratio	6.50%	6.50%

Shareholders' Equity - Basel II

Shareholders' Equity - Basel III Minimum Capital Adequacy Requirements after Full Phase In (Details)	Dec. 31, 2023	Dec. 31, 2022
Basel III Minimum for Capital Adequacy Purposes
Total Capital to RWA	0.0800	0.0800
Tier 1 Capital to RWA	0.0600	0.0600
Tier 1 Capital to AA, or Leverage Ratio	0.0400	0.0400
Common equity tier 1 capital to RWA	4.50%	4.50%
Basel III Additional Capital Conservation Buffer
Basel III additional capital conservation buffer at full phase-in	2.50%	2.50%
Basel III "Adequate" Ratio with Capital Conservation Buffer
Total Capital to RWA	10.50%
Tier 1 Capital to RWA	8.50%
Tier 1 Capital to AA, or Leverage Ratio	4%
Common equity tier 1 capital to RWA	7%

Employee Benefit Plans - Define

Employee Benefit Plans - Defined Contribution Plans Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Contribution Plan Disclosure [Line Items]
Company's percent match on 401(k) defined contribution plan	70%	70%	70%
Maximum percentage of employee contribution matched by the Company	6%	6%	6%
Minimum age to be eligible for 401(k) plan	18 years
Number of minimum hours required to work for 401(k) plan eligibility	1 hour
Employer's matching contribution, annual vesting percentage for 401(k) plan	25%
Number of years to be fully vested for 401(k) plan	4 years
Defined contribution plan, expense	$ 2,100	$ 1,900	$ 1,700
SERP
Defined Contribution Plan Disclosure [Line Items]
Defined contribution plan, expense	$ 315	$ 787

Employee Benefit Plans - Supple

Employee Benefit Plans - Supplemental Employee Retirement Plan (SERP) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) officer
Schedule of Other Postretirement Benefits Plans Disclosures [Line Items]
Number of active executive officers under plan	2
Number of former executive officers under plan	1
Term of SERP benefits	20 years
SERP
Schedule of Other Postretirement Benefits Plans Disclosures [Line Items]
Accrual for benefit obligation for following year | $	$ 58

Employee Benefit Plans - Change

Employee Benefit Plans - Changes in Projected Benefit Obligations for SERP (Details) - SERP - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Change in Benefit Obligation [Roll Forward]
Benefit obligation at beginning of year	$ 1,420	$ 1,708	$ 1,923
Net periodic benefit cost:
Interest cost	69	74	61
Actuarial gain	(21)	(86)	0
Total net period cost	48	(12)	61
Benefits paid	(276)	(276)	(276)
Benefit obligation at end of year	1,192	1,420	1,708
Funded status:
Accrued liability as of December 31	$ (1,192)	$ (1,420)	$ (1,708)
Discount rate used for benefit obligation	5.25%	4.75%	3.25%

Employee Benefit Plans - Expect

Employee Benefit Plans - Expected Future Benefit Payments for SERP (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Retirement Benefits [Abstract]
2024	$ 276
2025	276
2026	276
2027	275
2028	165
2029-2033	$ 119

Employee Benefit Plans - Supp_2

Employee Benefit Plans - Supplemental Life Insurance (Details) - Supplemental Life Insurance Benefit - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Other Post Retirement Benefit Plan Disclosures [Line Items]
Benefit obligation at beginning of year	$ 2,358	$ 2,620	$ 2,631
Net periodic benefit cost:
Service cost	(29)	(26)	(23)
Interest cost	115	105	83
Actuarial gain	(167)	(341)	(71)
Total net period cost	(81)	(262)	(11)
Benefit obligation at end of year	2,277	2,358	2,620
Accrued liability as of December 31	$ (2,277)	$ (2,358)	$ (2,620)
Discount rate used for benefit obligation	5.25%	4.75%	3.25%
Accrual for benefit obligation for following year	$ 105

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Thousands	1 Months Ended			12 Months Ended
	Jan. 31, 2024 shares	Jan. 31, 2023 shares	Jan. 31, 2022 shares	Dec. 31, 2023 USD ($) plan shares	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of active individual stock incentive plans | plan				1
Stock-based compensation expense				$ 2,269	$ 2,316	$ 2,060
Tax benefit recognized related to stock-based compensation expense				637	651	579
Tax (benefit) expense from stock compensation				$ (108)	$ (147)	$ (85)
Price as a percentage of fair market value that stock options may not be granted below				100%
Stock options granted (in shares) | shares				0	17,060	17,580
Vested and exercisable options in-the-money (in shares) | shares				103,568
Net proceeds from exercise of stock options				$ 180	$ 118	$ 159
Total intrinsic value of options exercised				563	93	173
Cash paid by the Company to net settle employee taxes on restricted stock and options				447	433	346
Fair value of options vested				204	186	171
Fair value of restricted stock awards vested				1,600	1,800	1,700
Non-Employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit recognized related to stock-based compensation expense				61	71	71
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				175	206	187
Tax benefit recognized related to stock-based compensation expense				$ 49	$ 58	$ 52
Term in years				10 years	10 years	10 years
Cash paid by the Company to net settle employee taxes on restricted stock and options				$ 153	$ 8	$ 16
Unrecognized stock-based compensation expense				$ 202
Remaining vesting period unrecognized compensation expense is to be recognized				1 year 9 months 18 days
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash paid by the Company to net settle employee taxes on restricted stock and options				$ 294	425	330
Unrecognized stock-based compensation expense				$ 2,600
Remaining vesting period unrecognized compensation expense is to be recognized				2 years 3 months 18 days
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				$ 1,900	1,900	1,600
Tax benefit recognized related to stock-based compensation expense				527	522	456
Common stock in lieu of cash | Non-Employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense				$ 218	$ 254	$ 252
Number of shares issued in lieu of cash to directors (in shares) | shares		7,265	7,375
Common stock in lieu of cash | Non-Employee director | Subsequent event
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued in lieu of cash to directors (in shares) | shares	7,224
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 of Options Granted (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options granted (in shares)	0	17,060	17,580
Weighted average assumptions used in the fair value model:
Weighted average market price on date of grants (in dollars per share)	$ 0
Per share weighted average fair value (in dollars per share)	$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Term in years	10 years	10 years	10 years
Weighted average assumptions used in the fair value model:
Expected volatility		44%	44%
Expected dividend yield		3.05%	3.01%
Expected life in years		6 years 6 months	6 years 6 months
Risk-free interest rate		2.20%	1.28%
Weighted average market price on date of grants (in dollars per share)		$ 38.57	$ 32.73
Per share weighted average fair value (in dollars per share)		$ 14.40	$ 11.95
Fair value as a percentage of market value at grant date		37%	36%

Stock-Based Compensation - Stoc

Stock-Based Compensation - Stock Options Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options
Outstanding, beginning balance (in shares)	197,249
Granted (in shares)	0	17,060	17,580
Exercised (in shares)	33,998
Forfeited/Expired, (in shares)	712
Outstanding, ending balance (in shares)	162,539	197,249
Vested and Exercisable, ending balance (in shares)	126,161
Weighted Average Exercise Price Per Share
Outstanding, beginning balance (in dollars per share)	$ 26.33
Granted (in dollars per share)	0
Exercised (in dollars per share)	17.87
Forfeited/Expired (in dollars per share)	33.91
Outstanding, ending balance (in dollars per share)	28.07	$ 26.33
Vested and Exercisable, ending balance (in shares)	$ 26.37
Weighted Average Remaining Life in Years
Outstanding (in years)	4 years 2 months 12 days	4 years 4 months 24 days
Vested and Exercisable, ending balance (in years)	3 years 3 months 18 days
Aggregate Intrinsic Value
Outstanding	$ 824	$ 1,824
Vested and Exercisable, ending balance (in shares)	$ 777

Stock-Based Compensation - Su_2

Stock-Based Compensation - Summary of Unvested Options (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Options
Unvested, beginning balance (in shares)	56,257
Granted (in shares)	0	17,060	17,580
Vested (in shares)	19,879
Forfeited (in shares)	0
Unvested, ending balance (in shares)	36,378	56,257
Weighted Average Grant Date Fair Value
Unvested, beginning balance (in dollars per share)	$ 11.34
Granted (in dollars per share)	0
Vested (in dollars per share)	10.24
Forfeited (in dollars per share)	0
Unvested, ending balance (in dollars per share)	$ 11.94	$ 11.34

Stock-Based Compensation - Rest

Stock-Based Compensation - Restricted Stock Grants (Details) - Restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards in the period (in shares)	73,904	53,224	53,975
Weighted average grant date fair value (in dollars per share)	$ 32.04	$ 38.57	$ 32.73
Non-Employee director | Two-year vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards in the period (in shares)	9,915	8,823	8,109
Employee | Four-year vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards in the period (in shares)	32,719	22,147	24,307
Employee | Performance-based vesting
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock awards in the period (in shares)	31,270	22,254	21,559

Stock-Based Compensation - Re_2

Stock-Based Compensation - Restricted Stock Award Activity and Weighted Average Price (Details) - Restricted stock - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Restricted Stock
Unvested, beginning balance (in shares)	106,658
Granted (in shares)	73,904	53,224	53,975
Vested/released (in shares)	47,822
Forfeited (in shares)	2,701
Unvested, ending balance (in shares)	130,039	106,658
Weighted Average Grant Price Per Share
Unvested, beginning balance (in dollars per share)	$ 34.68
Granted (in dollars per share)	32.04	$ 38.57	$ 32.73
Vested/released (in dollars per share)	33.20
Forfeited (in dollars per share)	33.58
Unvested, ending balance (in dollars per share)	$ 33.75	$ 34.68

Income Taxes - Components of In

Income Taxes - Components of Income Tax Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current expense:
Federal	$ 10,424	$ 11,996	$ 10,786
State	4,763	4,606	3,771
Total current expense	15,187	16,602	14,557
Deferred benefit:
Federal	(1,425)	(2,027)	(945)
State	(575)	(1,145)	(25)
Total deferred benefit	(2,000)	(3,172)	(970)
Total income tax expense	$ 13,187	$ 13,430	$ 13,587

Income Taxes - Effective Income

Income Taxes - Effective Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Computed income tax expense at statutory rate	$ 10,761	$ 11,791	$ 11,709
State income taxes, net of federal tax benefit	3,309	2,734	2,959
Tax-exempt income, net of disallowance	(758)	(804)	(832)
Bank-owned life insurance income, net	(265)	(252)	(172)
Tax (benefit) expense from stock compensation	(108)	(147)	(85)
New market tax credit	(135)	0	0
Other	383	108	8
Total income tax expense	$ 13,187	$ 13,430	$ 13,587
Effective income tax rate	25.70%	23.90%	24.40%

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Asset and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred tax asset:
Allowance for credit losses	$ 18,278	$ 15,822
Depreciation	3,524	3,270
Net unrealized losses on equity securities	51	53
Net unrealized losses on debt securities	23,105	27,918
Supplemental employee retirement plans	330	932
Deferred compensation and benefits	3,976	3,042
Non-accrual interest	1,608	1,425
Stock-based compensation expense	878	724
Lease liability	6,757	6,781
Other	6	1,049
Total	58,513	61,016
Deferred tax liability:
Goodwill	1,564	1,571
Deferred origination costs	848	616
Lease ROU asset	6,862	6,781
Other	73	67
Total	9,347	9,035
Net deferred tax asset	$ 49,166	$ 51,981

Income Taxes - Narrative (Detai

Income Taxes - Narrative (Details) - USD ($)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Mar. 31, 2023
Schedule of Income Taxes [Line Items]
Total income taxes paid, net	$ 15,610,000	$ 16,983,000	$ 12,335,000
Unrecognized tax benefits	$ 0	0
NMTC investment fund				$ 3,700,000
NMTC investment, amortization period	7 years
Amortization of investment fund	$ 478,000
Federal Low Income Housing Tax Credit
Schedule of Income Taxes [Line Items]
Tax credit carryforward recognized during period	0	$ 36,000	$ 71,000
NMTC Investment Fund Tax Credit
Schedule of Income Taxes [Line Items]
Tax credit carryforward recognized during period	$ 613,000
Tax credits expected to be realized				$ 4,800,000

Earnings per Share - Weighted A

Earnings per Share - Weighted Average Number of Shares (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Basic weighted average common shares outstanding (in shares)	12,223,626	12,103,033	12,005,838
Dilutive shares (in shares)	20,410	46,744	45,455
Diluted weighted average common shares outstanding (in shares)	12,244,036	12,149,777	12,051,293

Earnings per Share- Narrative (

Earnings per Share- Narrative (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Antidilutive shares excluded from EPS (in shares)	61,425	34,291	31,677
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested participating restricted stock awards (in shares)	130,039	106,658

Fair Value Measurements - Recur

Fair Value Measurements - Recurring and Nonrecurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Measurements, Recurring | Level 1 | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	$ 0	$ 0
Fair Value, Measurements, Recurring | Level 1 | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	0
Fair Value, Measurements, Recurring | Level 1 | Debt securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 1 | Equity securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	7,058	4,269
Fair Value, Measurements, Recurring | Level 1 | FHLB Stock
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 1 | Interest-rate swaps
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 2 | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	1,390	782
Fair Value, Measurements, Recurring | Level 2 | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	65	73
Fair Value, Measurements, Recurring | Level 2 | Debt securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	661,113	816,102
Fair Value, Measurements, Recurring | Level 2 | Equity securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 2 | FHLB Stock
Assets measured on a recurring and non-recurring basis
Fair value of assets	2,402	2,343
Fair Value, Measurements, Recurring | Level 2 | Interest-rate swaps
Assets measured on a recurring and non-recurring basis
Fair value of assets	630	782
Fair Value, Measurements, Recurring | Level 3 | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	0	0
Fair Value, Measurements, Recurring | Level 3 | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	0
Fair Value, Measurements, Recurring | Level 3 | Debt securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 3 | Equity securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 3 | FHLB Stock
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Recurring | Level 3 | Interest-rate swaps
Assets measured on a recurring and non-recurring basis
Fair value of assets	0	0
Fair Value, Measurements, Nonrecurring | Level 1
Assets measured on a recurring and non-recurring basis
Individually evaluated loans (collateral dependent)	0	0
Fair Value, Measurements, Nonrecurring | Level 2
Assets measured on a recurring and non-recurring basis
Individually evaluated loans (collateral dependent)	0	0
Fair Value, Measurements, Nonrecurring | Level 3
Assets measured on a recurring and non-recurring basis
Individually evaluated loans (collateral dependent)	1,595	740
Fair Value | Fair Value, Measurements, Recurring | Interest-rate swaps
Liabilities measured on a recurring basis:
Fair value of liabilities	1,390	782
Fair Value | Fair Value, Measurements, Recurring | RPA sold
Liabilities measured on a recurring basis:
Fair value of liabilities	65	73
Fair Value | Fair Value, Measurements, Recurring | Debt securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	661,113	816,102
Fair Value | Fair Value, Measurements, Recurring | Equity securities
Assets measured on a recurring and non-recurring basis
Fair value of assets	7,058	4,269
Fair Value | Fair Value, Measurements, Recurring | FHLB Stock
Assets measured on a recurring and non-recurring basis
Fair value of assets	2,402	2,343
Fair Value | Fair Value, Measurements, Recurring | Interest-rate swaps
Assets measured on a recurring and non-recurring basis
Fair value of assets	630	782
Fair Value | Fair Value, Measurements, Nonrecurring
Assets measured on a recurring and non-recurring basis
Individually evaluated loans (collateral dependent)	$ 1,595	$ 740

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Specific allowance for collateral dependent impaired loans	$ 2,800	$ 298
Letter of Credit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Amortization period of estimated fair value on letters of credit	1 year

Fair Value Measurements - Quant

Fair Value Measurements - Quantitative (Details) - Fair Value, Measurements, Nonrecurring - Level 3 - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent)	$ 1,595	$ 740
Individually evaluated loans (collateral dependent) | Appraisal of collateral
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans (collateral dependent)	$ 1,595	$ 740
Appraisal adjustments | Individually evaluated loans (collateral dependent) | Minimum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans, collateral dependent, unobservable input value or range	15%
Appraisal adjustments | Individually evaluated loans (collateral dependent) | Maximum
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Individually evaluated loans, collateral dependent, unobservable input value or range	50%

Fair Value Measurements - Balan

Fair Value Measurements - Balance Sheet Grouping (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Carrying Amount
Financial assets:
Loans held for sale	$ 200
Loans, net	3,508,636	$ 3,127,878
Financial liabilities:
Borrowed funds	25,768	3,216
Subordinated debt	59,498	59,182
Carrying Amount | CDs
Financial liabilities:
CDs	521,076	287,192
Fair Value
Financial assets:
Loans held for sale	201
Loans, net	3,353,968	2,952,778
Financial liabilities:
Borrowed funds	24,081	2,006
Subordinated debt	55,572	55,407
Fair Value | CDs
Financial liabilities:
CDs	518,928	281,800
Level 1
Financial assets:
Loans held for sale	0
Loans, net	0	0
Financial liabilities:
Borrowed funds	0	0
Subordinated debt	0	0
Level 1 | CDs
Financial liabilities:
CDs	0	0
Level 2
Financial assets:
Loans held for sale	201
Loans, net	0	0
Financial liabilities:
Borrowed funds	24,081	2,006
Subordinated debt	55,572	55,407
Level 2 | CDs
Financial liabilities:
CDs	518,928	281,800
Level 3
Financial assets:
Loans held for sale	0
Loans, net	3,353,968	2,952,778
Financial liabilities:
Borrowed funds	0	0
Subordinated debt	0	0
Level 3 | CDs
Financial liabilities:
CDs	$ 0	$ 0

Supplemental Cash Flow Inform_3

Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Supplemental financial data:
Cash paid for: interest	$ 45,296	$ 8,647	$ 7,880
Cash paid for: estimated income taxes	15,610	16,983	12,335
Cash paid for: lease liability	1,412	1,380	1,251
Supplemental schedule of non-cash activity:
Transfer from loans to other real estate owned	0	0	2,400
ROU lease assets: operating leases	$ 611	$ 31	$ 6,608

Condensed Parent Company Only_3

Condensed Parent Company Only Financial Statements - Balance Sheet (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Assets
Total assets	$ 4,466,034	$ 4,438,333
Liabilities
Subordinated debt	59,498	59,182	$ 58,979
Accrued interest payable	4,678	2,005
Other liabilities	45,011	31,442
Total liabilities	4,136,917	4,156,066
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; 12,272,674 and 12,133,516 shares issued and outstanding, respectively	123	121
Additional paid-in capital	107,377	103,793
Retained earnings	301,380	274,560
Accumulated other comprehensive loss	(79,763)	(96,207)
Total shareholders' equity	329,117	282,267	$ 346,895	$ 334,426
Total liabilities and shareholders' equity	4,466,034	4,438,333
Parent
Assets
Cash	2,089	1,929
Investment in subsidiaries	387,978	340,966
Other assets	0	0
Total assets	390,067	342,895
Liabilities
Subordinated debt	59,498	59,182
Accrued interest payable	1,444	1,444
Other liabilities	8	2
Total liabilities	60,950	60,628
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; 12,272,674 and 12,133,516 shares issued and outstanding, respectively	123	121
Additional paid-in capital	107,377	103,793
Retained earnings	301,380	274,560
Accumulated other comprehensive loss	(79,763)	(96,207)
Total shareholders' equity	329,117	282,267
Total liabilities and shareholders' equity	$ 390,067	$ 342,895

Condensed Parent Company Only_4

Condensed Parent Company Only Financial Statements - Balance Sheet Additional (Details) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value (in dollars 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 dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,272,674	12,133,516
Common stock, shares outstanding (in shares)	12,272,674	12,133,516
Parent
Condensed Financial Statements, Captions [Line Items]
Preferred stock, par value (in dollars 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 dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	40,000,000	40,000,000
Common stock, shares issued (in shares)	12,272,674	12,133,516
Common stock, shares outstanding (in shares)	12,272,674	12,133,516

Condensed Parent Company Only_5

Condensed Parent Company Only Financial Statements - Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Condensed Financial Statements, Captions [Line Items]
Interest expense	$ 47,969	$ 9,115	$ 7,477
Benefit from income taxes	13,187	13,430	13,587
Net income	38,058	42,716	42,171
Parent
Condensed Financial Statements, Captions [Line Items]
Equity in undistributed net income of subsidiaries	30,315	36,701	22,985
Dividends distributed by subsidiaries	10,200	8,900	22,350
Total income	40,515	45,601	45,335
Interest expense	3,467	3,352	3,495
Other operating expenses	347	270	891
Total operating expenses	3,814	3,622	4,386
Income before income taxes	36,701	41,979	40,949
Benefit from income taxes	(1,357)	(737)	(1,222)
Net income	$ 38,058	$ 42,716	$ 42,171

Condensed Parent Company Only_6

Condensed Parent Company Only Financial Statements - Cash Flows (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows from operating activities:
Net income	$ 38,058	$ 42,716	$ 42,171
Changes in:
Net (increase) decrease in other assets	(12,818)	(11,322)	9,324
Net increase (decrease) in other liabilities	13,922	169	(798)
Cash flows from financing activities:
Repayment of subordinated debt	0	0	(15,600)
Cash dividends paid, net of dividend reinvestment plan	(9,734)	(8,521)	(7,627)
Proceeds from issuance of common stock	44	47	59
Net settlement for employee taxes on restricted stock and options	(447)	(433)	(346)
Net proceeds from exercise of stock options	180	118	159
Cash and cash equivalents at beginning of year	267,589	436,576	253,782
Cash and cash equivalents at end of year	56,592	267,589	436,576
Parent
Cash flows from operating activities:
Net income	38,058	42,716	42,171
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries	(30,315)	(36,701)	(22,985)
Payment from subsidiary bank for stock compensation expense	2,305	2,315	2,094
Changes in:
Net (increase) decrease in other assets	(253)	205	66
Net increase (decrease) in other liabilities	322	202	(25)
Net cash provided by operating activities	10,117	8,737	21,321
Cash flows from investing activities:
Investment in subsidiary	0	0	0
Net cash used in investing activities	0	0	0
Cash flows from financing activities:
Repayment of subordinated debt	0	0	(14,887)
Proceeds from the issuance of subordinated debt	0	0	0
Cash dividends paid, net of dividend reinvestment plan	(9,734)	(8,521)	(7,627)
Proceeds from issuance of common stock	44	47	59
Net settlement for employee taxes on restricted stock and options	(447)	(433)	(346)
Net proceeds from exercise of stock options	180	118	159
Net cash (used in) provided by financing activities	(9,957)	(8,789)	(22,642)
Net (decrease) increase in cash and cash equivalents	160	(52)	(1,321)
Cash and cash equivalents at beginning of year	1,929	1,981	3,302
Cash and cash equivalents at end of year	$ 2,089	$ 1,929	$ 1,981

Uncategorized Items - ebtc-2023

Label	Element	Value
Accounting Standards Update [Extensible Enumeration]	us-gaap_AccountingStandardsUpdateExtensibleList	Accounting Standards Update 2016-13 [Member]