Peoples Financial Services (PFIS) 10-K 16 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2019	Feb. 28, 2020	Jun. 30, 2019
Document and Entity Information
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Entity Registrant Name	Peoples Financial Services Corp.
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	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 332,884,519
Entity Common Stock, Shares Outstanding		7,388,480
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Entity Central Index Key	0001056943
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cash and due from banks:
Cash and due from banks	$ 26,943	$ 32,569
Interest-bearing deposits in other banks	4,210	47
Total cash and due from banks	31,153	32,616
Investment securities:
Available-for-sale	330,478	269,682
Equity investments carried at fair value	423	291
Held-to-maturity: Fair value December 31, 2019, $7,889; December 31, 2018, $8,380	7,656	8,361
Total investment securities	338,557	278,334
Loans	1,938,240	1,823,266
Less: allowance for loan losses	22,677	21,379
Net loans	1,915,563	1,801,887
Loans held for sale	986	749
Premises and equipment, net	47,932	38,889
Accrued interest receivable	6,981	7,115
Goodwill	63,370	63,370
Intangible assets, net	1,565	2,296
Other assets	69,220	63,737
Total assets	2,475,327	2,288,993
Deposits:
Noninterest-bearing	463,238	410,260
Interest-bearing	1,508,251	1,464,762
Total deposits	1,971,489	1,875,022
Short-term borrowings	152,150	86,500
Long-term debt	32,733	37,906
Accrued interest payable	1,277	1,195
Other liabilities	18,668	9,756
Total liabilities	2,176,317	2,010,379
Stockholders’ equity:
Common stock, par value $2.00, authorized 25,000,000 shares, issued and outstanding 7,388,480 shares at December 31, 2019 and 7,399,054 shares at December 31, 2018	14,777	14,798
Capital surplus	135,251	135,310
Retained earnings	152,187	136,582
Accumulated other comprehensive loss	(3,205)	(8,076)
Total stockholders’ equity	299,010	278,614
Total liabilities and stockholders’ equity	$ 2,475,327	$ 2,288,993

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position
Held-to-maturity, Fair value	$ 7,889	$ 8,380
Common stock, par value	$ 2	$ 2
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	7,388,480	7,399,054
Common stock, shares outstanding	7,388,480	7,399,054

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest and fees on loans:
Taxable	$ 82,488	$ 74,352	$ 64,946
Tax-exempt	4,309	3,666	3,163
Interest and dividends on investment securities:
Taxable	4,435	3,799	2,949
Tax-exempt	1,878	2,621	2,999
Dividends	84	72	52
Interest on interest-bearing deposits in other banks	65	151	133
Interest on federal funds sold	122
Total interest income	93,381	84,661	74,242
Interest expense:
Interest on deposits	14,995	9,346	6,450
Interest on short-term borrowings	1,642	2,738	900
Interest on long-term debt	1,231	1,238	1,348
Total interest expense	17,868	13,322	8,698
Net interest income	75,513	71,339	65,544
Provision for loan losses	6,100	4,200	4,800
Net interest income after provision for loan losses	69,413	67,139	60,744
Noninterest income:
Mortgage banking income	600	627	784
Bank owned life insurance income	755	757	769
Net gains on equity investment securities	132	14
Net gains on sale of investment securities available-for-sale	23
Net gain on sale of credit card loans		291
Net gain on sale of merchant services business			2,278
Total noninterest income	15,120	13,659	17,186
Noninterest expense:
Salaries and employee benefits expense	31,374	28,407	26,670
Net occupancy and equipment expense	11,911	10,897	9,975
Amortization of intangible assets	730	881	1,034
Professional fees and outside services	1,758	2,414	2,277
FDIC insurance and assessments	651	1,093	826
Donations	1,441	1,339	1,188
Other expenses	7,777	7,456	9,323
Total noninterest expense	55,642	52,487	51,293
Income before income taxes	28,891	28,311	26,637
Income tax expense	3,155	3,391	8,180
Net income	25,736	24,920	18,457
Other comprehensive income (loss):
Unrealized gain (loss) on investment securities available-for-sale	5,109	(2,014)	(1,790)
Reclassification adjustment for net gain on sales included in net income	(23)
Change in benefit plan liabilities	639	(591)	318
Net change in derivatives	441
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, before Tax		246
Other comprehensive gain (loss)	6,166	(2,359)	(1,472)
Income tax expense (benefit)	1,295	(496)	(515)
Other comprehensive income (loss), net of income taxes	4,871	(1,863)	(957)
Comprehensive income	$ 30,607	$ 23,648	$ 17,500
Net income:
Basic	$ 3.48	$ 3.37	$ 2.50
Diluted	$ 3.48	$ 3.37	$ 2.50
Average common shares outstanding:
Basic	7,395,429	7,397,797	7,395,837
Diluted	7,395,429	7,397,797	7,395,837
Dividends declared	$ 1.37	$ 1.31	$ 1.26
Service charges, fees and commissions
Noninterest income:
Revenue from contracts with customers	$ 9,026	$ 7,678	$ 7,344
Merchant services income
Noninterest income:
Revenue from contracts with customers	973	809	2,543
Commission and fees on fiduciary activities
Noninterest income:
Revenue from contracts with customers	2,087	2,036	2,057
Wealth management income
Noninterest income:
Revenue from contracts with customers	$ 1,524	$ 1,447	$ 1,411

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Common Stock	Capital Surplus	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Total
Balance at Dec. 31, 2016	$ 14,788	$ 134,871	$ 111,114	$ (4,155)	$ 256,618
Net income			18,457		18,457
Other comprehensive income (loss), net of income taxes				(957)	(957)
Dividends declared			(9,319)		(9,319)
Stock based compensation		177			177
Common stock grants awarded, net of unearned compensation	5	(5)
Balance at Dec. 31, 2017	14,793	135,043	121,353	(6,213)	264,976
Reclassification related to adoption of ASU			1,101	(1,101)
Net income			24,920		24,920
Other comprehensive loss, net of income taxes				(1,861)	(1,861)
Other comprehensive income (loss), net of income taxes					(1,863)
Dividends declared			(9,693)		(9,693)
Stock based compensation		272			272
Common stock grants awarded, net of unearned compensation	5	(5)
Balance at Dec. 31, 2018	14,798	135,310	136,582	(8,076)	278,614
Reclassification related to adoption of ASU			2	(2)
Net income			25,736		25,736
Other comprehensive income (loss), net of income taxes				4,871	4,871
Dividends declared			(10,131)		(10,131)
Stock based compensation		554			554
Common stock grants awarded, net of unearned compensation	8	(8)
Retirement of treasury stock	(29)	(605)			(634)
Balance at Dec. 31, 2019	$ 14,777	$ 135,251	$ 152,187	$ (3,205)	299,010
Reclassification related to adoption of ASU					$ 6,523

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2017
Statement of Stockholders' Equity
Dividends declared (in dollars per share)	$ 1.37	$ 1.26
Share retired, shares	14,428
Common stock grants awarded, net of unearned compensation	$ 147	$ 32
Common stock grants awarded, net of unearned compensation (in shares)	3,854	2,362

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 25,736	$ 24,920	$ 18,457
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment	3,083	2,333	1,950
Amortization of right-of-use lease asset	398
Amortization of deferred loan costs	(164)	525	907
Amortization of intangibles	730	881	1,034
Amortization of low income housing partnerships	476	465	470
Provision for loan losses	6,100	4,200	4,800
Net unrealized gain on equity investment securities	(132)	(14)
Net loss (gain) on sale of other real estate owned	9	(21)	(11)
Gain on life insurance proceeds		(368)
Loans originated for sale	(15,901)	(13,194)	(21,036)
Proceeds from sale of loans originated for sale	15,753	12,650	21,149
Net gain on sale of loans originated for sale	(89)	(99)	(219)
Net amortization of investment securities	1,668	2,206	2,764
Net gain on sale of investment securities available-for-sale	(23)
Net gain on sale of credit card loans held for sale		(291)
Net gain on sale of merchant services business			(2,278)
Bank owned life insurance income	(755)	(757)	(769)
Deferred income tax expense (benefit)	394	(681)	1,665
Stock based compensation	554	272	177
Net change in:
Accrued interest receivable	134	(179)	(708)
Other assets	(3,363)	816	2,023
Accrued interest payable	82	698	35
Other liabilities	2,389	(1,736)	(1,817)
Net cash provided by operating activities	37,079	32,626	28,593
Cash flows from investing activities:
Proceeds from sales of investment securities available-for-sale	9,677
Proceeds from repayments of investment securities:
Available-for-sale	57,477	31,093	55,800
Held-to-maturity	697	898	1,222
Purchases of investment securities:
Available-for-sale	(124,501)	(32,709)	(73,471)
Net (purchase) redemption of restricted equity securities	(2,739)	1,100	(1,511)
Proceeds from sale of student loan portfolio		5,103
Proceeds from sale of credit card loan portfolio		2,698
Net increase in lending activities	(119,998)	(141,277)	(163,236)
Purchases of premises and equipment	(5,603)	(4,069)	(6,247)
Proceeds from the sale of premises and equipment		404
Proceeds from bank owned life insurance		672
Proceeds from the sale of merchant services business			2,300
Proceeds from sale of other real estate owned	269	1,281	580
Net cash used in investing activities	(184,721)	(134,806)	(184,563)
Cash flows from financing activities:
Net increase in deposits	96,467	156,004	130,261
Proceeds from long-term debt	16,000
Repayment of long-term debt	(21,173)	(11,828)	(8,400)
Net increase (decrease) in short-term borrowings	65,650	(37,175)	40,975
Retirement of common stock	(634)
Cash dividends paid	(10,131)	(9,693)	(9,319)
Net cash provided by financing activities	146,179	97,308	153,517
Net decrease in cash and cash equivalents	(1,463)	(4,872)	(2,453)
Cash and cash equivalents at beginning of period	32,616	37,488	39,941
Cash and cash equivalents at end of period	31,153	32,616	37,488
Cash paid during the period for:
Interest	17,786	12,624	8,663
Income taxes	4,550	2,650	5,900
Noncash items:
Transfers of loans to other real estate	421	$ 1,432	$ 460
Initial recognition of right-of-use assets	6,523
Initial recognition of lease liability	$ 6,523

Summary of significant accounti

Summary of significant accounting policies	12 Months Ended
	Dec. 31, 2019
Summary of significant accounting policies
Summary of significant accounting policies	1. Summary of significant accounting policies: Nature of operations: Peoples Financial Services Corp., a bank holding company incorporated under the laws of Pennsylvania, provides a full range of financial services through its wholly-owned subsidiary, Peoples Security Bank and Trust Company (“Peoples Bank”), collectively, the “Company” or “Peoples”. The Company services its retail and commercial customers through twenty-eight full-service community banking offices located within Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, Wayne and Wyoming Counties of Pennsylvania and Broome County of New York and one limited purpose banking office located in Schuylkill County, Pennsylvania. Peoples Bank is a state-chartered bank and trust company under the jurisdiction of the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Peoples Bank’s primary product is loans to small and medium-sized businesses. Other lending products include one-to-four family residential mortgages and consumer loans. Peoples Bank primarily funds its loans by offering deposits to commercial enterprises and individuals. Deposit product offerings include checking accounts, savings accounts, money market accounts and certificates of deposits. The Company faces competition primarily from commercial banks, thrift institutions and credit unions within its market, many of which are substantially larger in terms of assets and capital. In addition, mutual funds and security brokers compete for various types of deposits, and consumer, mortgage, leasing and insurance companies compete for various types of loans and leases. Principal methods of competing for banking and permitted nonbanking services include price, nature of product, quality of service and convenience of location. The Company and Peoples Bank are subject to regulations of certain federal and state regulatory agencies and undergo periodic examinations. Basis of presentation: The consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), Regulation S-X and reporting practices applied in the banking industry. All significant intercompany balances and transactions have been eliminated in consolidation. The Company also presents herein condensed parent company only financial information regarding Peoples Financial Services Corp. (“Parent Company”). Prior period amounts are reclassified when necessary to conform with the current year’s presentation. Such reclassifications had no effect on financial position or results of operations. The Company has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2019, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued. Estimates: The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that are particularly susceptible to material change in the near term relate to the determination of the allowance for loan losses, fair value of financial instruments, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of deferred tax assets, determination of other-than-temporary impairment losses on securities and impairment of goodwill. Actual results could differ from those estimates. Investment securities: Investment securities are classified and accounted for as either held-to-maturity or available-for-sale securities based on management’s intent at the time of acquisition. Management is required to reassess the appropriateness of such classifications at each reporting date. The Company classifies debt securities as held-to maturity when management has the positive intent and ability to hold such securities to maturity. Held-to-maturity securities are stated at cost, adjusted for amortization of premium and accretion of discount. Investment securities are designated as available-for-sale when they are to be held for indefinite periods of time as management intends to use such securities to implement asset/liability strategies or to sell them in response to changes in interest rates, prepayment risk, liquidity requirements, or other circumstances identified by management. Available-for-sale securities are reported at fair value, with unrealized gains and losses, net of income taxes, excluded from earnings and reported in a separate component of stockholders’ equity. All marketable equity securities are accounted for at fair value with unrealized gains and losses reported in earnings. Estimated fair values for investment securities are based on quoted market prices from a national pricing service. Realized gains and losses are computed using the specific identification method and are included in noninterest income. Premiums on callable debt securities are amortized to the earliest call date from the maturity date. Premiums on non-callable securities are amortized and discounts are accreted using the interest method over the expected life of the security. Investment securities that are bought and held principally for the purpose of selling them in the near term, in order to generate profits from market appreciation, are classified as trading account securities. Transfers of securities between categories are recorded at fair value at the date of the transfer, with the accounting treatment of unrealized gains or losses determined by the category into which the security is transferred. Management evaluates each investment security to determine if a decline in fair value below its amortized cost is an other-than-temporary impairment (“OTTI”) at least quarterly, and more frequently when economic or market concerns warrant an evaluation. Factors considered in determining whether an other-than-temporary impairment was incurred include: (i) the length of time and the extent to which the fair value has been less than amortized cost; (ii) the financial condition and near-term prospects of the issuer; (iii) whether a decline in fair value is attributable to adverse conditions specifically related to the security or specific conditions in an industry or geographic area; (iv) the credit-worthiness of the issuer of the security; (v) whether dividend or interest payments have been reduced or have not been made; (vi) an adverse change in the remaining expected cash flows from the security such that the Company will not recover the amortized cost of the security; (vii) whether management intends to sell the security; and (viii) if it is more likely than not that management will be required to sell the security before recovery. If a decline is judged to be other-than-temporary, the individual security is written-down to fair value with the credit related component of the write-down included in earnings and the non-credit related component included in other comprehensive income or loss. The assessment of whether an other-than-temporary impairment exists involves a high degree of subjectivity and judgment and is based on information available to management at a point in time. Loans held for sale: Loans held for sale consist of one-to-four family residential mortgages originated and intended for sale in the secondary market. The loans are carried in aggregate at the lower of cost or estimated market value, based upon current delivery prices in the secondary mortgage market. Net unrealized losses are recognized through a valuation allowance by corresponding charges to income. Gains or losses on the sale of these loans are recognized in noninterest income at the time of sale using the specific identification method. Loan origination fees, net of certain direct loan origination costs, are included in net gains or losses upon the sale of the related mortgage loan. All loans are sold with recourse. Loans, net: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of deferred fees or costs. Interest income is accrued on the principal amount outstanding. Loan origination fees, net of certain direct origination costs, are deferred and recognized over the contractual life of the related loan as an adjustment to yield using the effective interest method. Premiums and discounts on purchased loans are amortized as adjustments to interest income using the effective interest method. Delinquency fees are recognized in income at the time when they are paid by customer. Transfers of financial assets, which include loan participation sales, are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (i) the assets have been isolated from the Company; (ii) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. The loan portfolio is segmented into commercial and retail loans. Commercial loans consist of commercial, commercial real estate, municipal and other related tax free loans. Retail loans consist of residential real estate and other consumer loans. The Company makes commercial loans for real estate development and other business purposes required by the customer base. The Company’s credit policies establish advance rates against the different forms of collateral that can be pledged against various commercial loans. Typically, the majority of loans will be underwritten to a percentage of their underlying collateral values such as real estate values, equipment, eligible accounts receivable and inventory. Individual loan advance rates may be higher or lower depending upon the financial strength of the borrower and/or term of the loan. Generally, assets financed through commercial loans are used for the operations of the business. Repayment for these types of loans generally comes from the cash flow of the business or the ongoing conversion of assets. Commercial real estate loans include construction, mini-perm, or longer term loans financing commercial properties. Repayment of these loans are generally dependent upon either the ongoing business cash flow from an owner occupied property or the lease/rental income or sale of a non-owner occupied property. Commercial real estate loans typically require a loan to value of not greater than 80% and vary in terms. Commercial and commercial real estate loans generally have higher credit risk compared to residential mortgage loans and consumer loans, as they typically involve larger loan balances concentrated with single borrowers or groups of borrowers. In addition, the payment expectations on loans secured by income-producing properties typically depend on the successful operations of the related business and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. Loans secured by commercial real estate generally have larger balances and involve a greater degree of risk than one-to-four family residential mortgage loans. Of primary concern in commercial real estate lending is the borrower’s and any guarantor’s creditworthiness and the feasibility and cash flow potential of the financed project. Additional considerations include: location, market and geographic concentration risks, loan to value, strength of guarantors and quality of tenants. Payments on loans secured by income properties often depend on successful operation and management of the properties. As a result, repayment of such loans may be subject to a higher level of risk than residential real estate loans, which could be caused by unfavorable conditions in the real estate market or the economy. To effectively monitor loans on income properties, the Company requires borrowers and loan guarantors, if any, to provide annual financial statements on commercial real estate loans and rent rolls where applicable. In reaching a decision on whether to make a commercial real estate loan, the Company considers and reviews a cash flow analysis of the borrower and guarantor, when applicable. In addition, the Company evaluates business cash flows, if applicable, net operating income of the property, the borrower’s expertise, credit history and the value of the underlying property. The Company has generally required that the properties securing these real estate loans have debt service coverage ratios, which is net cash flow before debt service to debt service, of at least 1.2 times. An environmental report is obtained when the possibility exists that hazardous materials may have existed on the site, or the site may have been impacted by adjoining properties that handled hazardous materials. Commercial loans are generally made on the basis of a business entity or individual borrower’s ability to make repayment from business cash flows or individual borrowers’ employment and other income. Commercial business loans tend to have a slightly higher risk than commercial real estate loans because collateral usually consists of business assets versus real estate. Further, any collateral securing such loans may depreciate over time and could be difficult to appraise and liquidate. As a result, repayment of commercial business loans may depend substantially on the success of the business itself. Residential mortgages, including home equity loans, are secured by the borrower’s residential real estate in either a first or second lien position. Residential mortgages have varying loan rates depending on the financial condition of the borrower, loan to value ratio and term. Residential mortgages may have amortizations up to 30 years. Consumer loans include installment loans, car loans, and overdraft lines of credit. These loans are both secured and unsecured. Consumer loans may entail greater risk than do residential mortgage loans, particularly in the case of consumer loans that are unsecured. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment for the outstanding loan and a small remaining deficiency often does not warrant further substantial collection efforts against the borrower. Consumer loan collections depend on the borrower’s continuing financial stability, and therefore are likely to be adversely affected by various factors, including job loss, divorce, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state insolvency laws, may limit the amount that can be recovered on such loans. Off-balance sheet financial instruments: In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit, unused portions of lines of credit and standby letters of credit. These financial instruments are recorded in the consolidated financial statements when they are funded. Fees on commercial letters of credit and on unused available lines of credit are recorded as interest and fees on loans and are included in interest income when paid. The Company records an allowance for off-balance sheet credit losses, if deemed necessary, separately as a liability. Nonperforming assets: Nonperforming assets consist of nonperforming loans and other real estate owned. Nonperforming loans include nonaccrual loans, troubled debt restructured loans and accruing loans past due 90 days or more. Past due status is based on contractual terms of the loan. Generally, a loan is classified as nonaccrual when it is determined that the collection of all or a portion of interest or principal is doubtful or when a default of interest or principal has existed for 90 days or more, unless the loan is well secured and in the process of collection. When a loan is placed on nonaccrual, interest accruals discontinue and uncollected accrued interest is reversed against income in the current period. Interest collections after a loan has been placed on nonaccrual status are credited to a suspense account until either the loan is returned to performing status or charged-off. The interest accumulated in the suspense account is credited to income over the remaining life of the loan using the effective yield method if the nonaccrual loan is returned to performing status. However, if the nonaccrual loan is charged-off, the accumulated interest is applied as a reduction to principal at the time the loan is charged-off. A nonaccrual loan is returned to performing status when the loan is current as to principal and interest and has performed according to the contractual terms for a minimum of six months. Troubled debt restructured loans are loans with original terms, interest rate, or both, that have been modified as a result of a deterioration in the borrower’s financial condition and a concession has been granted that the Company would not otherwise consider. Unless on nonaccrual, interest income on these loans is recognized when earned, using the interest method. The Company offers a variety of modifications to borrowers that would be considered concessions. The modification categories offered can generally fall within the following categories: · Rate Modification — A modification in which the interest rate is changed to a below market rate. · Term Modification — A modification in which the maturity date, timing of payments or frequency of payments is changed. · Interest Only Modification — A modification in which the loan is converted to interest only payments for a period of time. · Payment Modification — A modification in which the dollar amount of the payment is changed, other than an interest only modification described above. · Combination Modification — Any other type of modification, including the use of multiple categories above. The Company segments loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are individually analyzed for credit risk by classifying them within the Company’s internal risk rating system. The Company’s risk rating classifications are defined as follows: · Pass — A loan to borrowers with acceptable credit quality and risk that is not adversely classified as Substandard, Doubtful, Loss nor designated as Special Mention. · Special Mention — A loan that has potential weaknesses that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Special Mention loans are not adversely classified since they do not expose the Company to sufficient risk to warrant adverse classification. · Substandard — A loan that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. · Doubtful — A loan classified as Doubtful has all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. · Loss — A loan classified as Loss is considered uncollectible and of such little value that its continuance as bankable loans is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future. Other real estate owned is comprised of properties acquired through foreclosure proceedings or in-substance foreclosures. A loan is classified as in-substance foreclosure when the Company has taken possession of the collateral regardless of whether formal foreclosure proceedings take place. Other real estate owned is included in other assets and recorded at fair value less cost to sell at the time of acquisition, establishing a new cost basis. Any excess of the loan balance over the recorded value is charged to the allowance for loan losses. Subsequent declines in the recorded values of the properties prior to their disposal and costs to maintain the assets are included in other expenses. Any gain or loss realized upon disposal of other real estate owned is included in noninterest expense. Allowance for loan losses: The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date. The allowance for loan losses account is maintained through a provision for loan losses charged to earnings. Loans, or portions of loans, determined to be confirmed losses are charged against the allowance account and subsequent recoveries, if any, are credited to the account. A loss is considered confirmed when information available at the financial statement date indicates the loan, or a portion thereof, is uncollectible. Nonaccrual, troubled debt restructured and loans deemed impaired at the time of acquisition are reviewed monthly to determine if carrying value reductions are warranted or if these classifications should be changed. Consumer loans are considered losses and charged-off when they are 120 days past due. Management evaluates the adequacy of the allowance for loan losses account quarterly. This assessment is based on past charge-off experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. Regulators, in reviewing the loan portfolio as part of the scope of a regulatory examination, may require the Company to increase its allowance for loan losses or take other actions that would require the Company to increase its allowance for loan losses. The allowance for loan losses is maintained at a level believed to be adequate to absorb probable credit losses related to specifically identified loans, as well as probable incurred losses inherent in the remainder of the loan portfolio as of the balance sheet date. The allowance for loan losses consists of an allocated element and an unallocated element. The allocated element consists of a specific allowance for impaired loans individually evaluated and a formula portion for loss contingencies on those loans collectively evaluated. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. All amounts due according to the contractual terms means that both the contractual interest and principal payments of a loan will be collected as scheduled in the loan agreement. Factors considered by management in determining impairment include payment status, ability to pay and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company recognizes interest income on impaired loans, including the recording of cash receipts, for nonaccrual, restructured loans or accruing loans depending on the status of the impaired loan. Loans considered impaired are measured for impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. If the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral, if the loan is collateral dependent, is less than the recorded investment in the loan, a specific allowance for the loan will be established. The formula portion of the allowance for loan losses relates to large pools of smaller-balance homogeneous loans and those identified loans considered not individually impaired having similar characteristics as these loan pools. Loss contingencies for each of the major loan pools are determined by applying a total loss factor to the current balance outstanding for each individual pool. The total loss factor is comprised of a historical loss factor using a loss migration method plus qualitative factors, which adjusts the historical loss factor for changes in trends, conditions and other relevant factors that may affect repayment of the loans in these pools as of the evaluation date. Loss migration involves determining the percentage of each pool that is expected to ultimately result in loss based on historical loss experience. The historical loss factor for each pool is a weighted average of the Company’s historical net charge-off ratio for the most recent rolling twelve quarters. Management adjusts these historical loss factors by qualitative factors that represents a number of environmental risks that may cause estimated credit losses associated with the current portfolio to differ from historical loss experience. These environmental risks include: (i) changes in lending policies and procedures including underwriting standards and collection, charge-off and recovery practices; (ii) changes in the composition and volume of the portfolio; (iii) changes in national, local and industry conditions, including the effects of such changes on the value of underlying collateral for collateral-dependent loans; (iv) changes in the volume and severity of classified loans, including past due, nonaccrual, troubled debt restructures and other loan modifications; (v) changes in the levels of, and trends in, charge-offs and recoveries; (vi) the existence and effect of any concentrations of credit and changes in the level of such concentrations; (vii) changes in the experience, ability and depth of lending management and other relevant staff; (viii) changes in the quality of the loan review system and the degree of oversight by the board of directors; and (ix) the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the current loan portfolio. Each environmental risk factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan loss calculation. The unallocated element is used to cover inherent losses that exist as of the evaluation date, but which have not been identified as part of the allocated allowance using the above impairment evaluation methodology due to limitations in the process. One such limitation is the imprecision of accurately estimating the impact current economic conditions will have on historical loss rates. Variations in the magnitude of impact may cause estimated credit losses associated with the current portfolio to differ from historical loss experience, resulting in an allowance that is higher or lower than the anticipated level. Management establishes the unallocated element of the allowance by considering a number of environmental risks similar to the ones used for determining the qualitative factors. Management continually monitors trends in historical and qualitative factors, including trends in the volume, composition and credit quality of the portfolio. The reasonableness of the unallocated element is evaluated through monitoring trends in its level to determine if changes from period to period are directionally consistent with changes in the loan portfolio. Management believes the level of the allowance for loan losses was adequate to absorb probable credit losses inherent in the loan portfolio as of December 31, 2019. Revenue from Contracts with Customers: The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation. Significant revenue has not been recognized in the current reporting period that results from performance obligations satisfied in previous periods. The Company’s primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not within the scope of Topic 606. The Company has evaluated the nature of its contracts with customers and determined that further disaggregation of revenue from contracts with customers into more granular categories beyond what is presented in the consolidated statements of income was not necessary. The Company generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. The following is a discussion of revenues within the scope of the guidance: · Service charges, fees and commissions . Service charges, fees and commissions on deposit accounts include fees for banking services provided, overdrafts and non-sufficient funds. Revenue is generally recognized in accordance with published deposit account agreements for retail accounts or contractual agreements for commercial accounts. The Company’s deposit services also include our ATM and debit card interchange revenue that is presented gross of the associated costs. Interchange revenue is generated by the Company’s deposit customers’ usage and volume of activity. Interchange rates are not controlled by the Company, which effectively acts as processor that collects and remits payments associated with customer debit card transactions. · Commission and fees on fiduciary activities. Commission and fees on fiduciary activities includes fees and commissions from investment management, administrative and advisory services primarily for individuals, and to a lesser extent, partnerships and corporations. Revenue is recognized on an accrual basis at the time the services are performed and when the Company has a right to invoice and are based on either the market value of the assets managed or the services provided. · Wealth management income. Wealth management income includes fees and commissions charged when the Company arranges for another party to transfer brokerage services to a customer. The fees and commissions under this agent relationship are based upon stated fee schedules based upon the type of transaction, volume, and value of the services provided. · Other noninterest income . Other noninterest income includes, among other things, merchant services income. Merchant services revenue is derived from a third party vendor that processes credit card transactions on behalf of the C

Cash and due from banks

Cash and due from banks	12 Months Ended
	Dec. 31, 2019
Cash and due from banks
Cash and due from banks	2. Cash and due from banks: The Federal Reserve Act, as amended, imposes reserve requirements on all depository institutions. The Company’s required reserve balances were $2,545 and $2,768 at December 31, 2019 and 2018, respectively.

Investment securities

Investment securities	12 Months Ended
	Dec. 31, 2019
Investment securities
Investment securities	3. Investment securities: The amortized cost and fair value of investment securities aggregated by investment category at December 31, 2019 and 2018 are summarized as follows: Gross Gross Amortized Unrealized Unrealized Fair December 31, 2019 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 23,966 $ 162 $ 24,128 U.S. government-sponsored enterprises 87,156 181 $ 227 87,110 State and municipals: Taxable 35,418 295 815 34,898 Tax-exempt 59,127 1,056 20 60,163 Residential mortgage-backed securities: U.S. government agencies 8,368 112 10 8,470 U.S. government-sponsored enterprises 101,914 1,011 77 102,848 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 12,694 171 4 12,861 Total $ 328,643 $ 2,988 $ 1,153 $ 330,478 Held-to-maturity: Tax-exempt state and municipals $ 6,852 $ 208 $ 7,060 Residential mortgage-backed securities: U.S. government agencies 31 31 U.S. government-sponsored enterprises 773 25 $ 798 Total $ 7,656 $ 233 $ $ 7,889 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2018 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 25,948 9 $ 365 $ 25,592 U.S. government-sponsored enterprises 94,999 $ 2 2,183 92,818 State and municipals: Taxable 13,544 309 13,853 Tax-exempt 86,361 338 745 85,954 Residential mortgage-backed securities: U.S. government agencies 12,663 50 84 12,629 U.S. government-sponsored enterprises 33,149 49 401 32,797 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 6,269 230 6,039 Total $ 272,933 $ 757 $ 4,008 $ 269,682 Held-to-maturity: Tax-exempt state and municipals $ 6,855 $ 12 $ 43 $ 6,824 Residential mortgage-backed securities: U.S. government agencies 42 42 U.S. government-sponsored enterprises 1,464 55 5 1,514 Total $ 8,361 $ 67 $ 48 $ 8,380 The Company had net unrealized gains on available-for-sale securities of $1,450, net of deferred income taxes of $385 at December 31, 2019, and net unrealized losses on available-for-sale securities of $2,568, net of deferred income taxes of $683, at December 31, 2018. During 2019, the Company sold available-for-sale municipal bonds and received proceeds totaling $9,677. Gross gains of $66 and gross losses of $43 were realized on the sale of investment securities in 2019. There were no sales of investment securities in 2018. Our equity securities portfolio consists of stock of two other financial institutions. At December 31, 2019 and December 31, 2018, we had $423 thousand and $291 thousand, respectively, in equity securities recorded at fair value. Prior to January 1, 2018, equity securities were stated at fair value with unrealized gains and losses reported as a separate component of Accumulated Other Comprehensive Income (“AOCI”), net of tax. At December 31, 2018, net unrealized gains of $3 thousand had been recognized in AOCI. On January 1, 2018, these unrealized gains, net of income tax were reclassified out of AOCI and into retained earnings with subsequent changes in fair value being recognized in net income. At December 31, 2019, the fair value of our equity portfolio exceeded the cost basis by $146 thousand. The following is a summary of unrealized and realized gains and losses recognized in net income on equity securities during 2019 and 2018. Year Ended December 31, 2019 2018 Net gains recognized during the period on equity securities $ 132 $ 14 Less: Net gains recognized during the period on equity securities sold during the period Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 132 $ 14 The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at December 31, 2019, is summarized as follows: Fair December 31, 2019 Value Within one year $ 41,486 After one but within five years 108,231 After five but within ten years 19,951 After ten years 33,297 202,965 Mortgage-backed and other amortizing securities 127,513 Total $ 330,478 Expected maturities will differ from contractual maturities because borrowers have the right to call or prepay obligations with or without call or prepayment penalties. The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at December 31, 2019, is summarized as follows: Amortized Fair December 31, 2019 Cost Value Within one year After one but within five years After five but within ten years After ten years $ 6,852 $ 7,060 6,852 7,060 Mortgage-backed securities 804 829 Total $ 7,656 $ 7,889 Securities with a carrying value of $157,047 and $161,647 at December 31, 2019 and 2018, respectively, were pledged to secure public deposits and certain other deposits as required or permitted by law. Securities and short-term investment activities are conducted with a diverse group of government entities, corporations and state and local municipalities. The counterparty’s creditworthiness and type of collateral is evaluated on a case-by-case basis. At December 31, 2019 and 2018, there were no significant concentrations of credit risk from any one issuer, with the exception of U.S. government agencies and sponsored enterprises that exceeded 10.0 percent of stockholders’ equity. The fair value and gross unrealized losses of investment securities with unrealized losses for which an OTTI has not been recognized at December 31, 2019 and 2018, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019 Value Losses Value Losses Value Losses U.S. government-sponsored enterprises $ 13,695 $ 149 $ 36,070 $ 78 $ 49,765 $ 227 State and municipals: Taxable 23,929 815 23,929 815 Tax-exempt 2,684 19 1,098 1 3,782 20 Residential mortgage-backed securities: U.S. government agencies 992 1 2,362 9 3,354 10 U.S. government-sponsored enterprises 36,939 51 3,751 30 40,690 81 Total $ 78,239 $ 1,035 $ 43,281 $ 118 $ 121,520 $ 1,153 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2018 Value Losses Value Losses Value Losses U.S. Treasury securities $ 1,995 $ 2 $ 19,671 $ 363 $ 21,666 $ 365 U.S. government-sponsored enterprises 2,037 1 89,729 2,182 91,766 2,183 State and municipals: Tax-exempt 9,022 74 52,352 714 61,374 788 Residential mortgage-backed securities: U.S. government agencies 7,800 84 7,800 84 U.S. government-sponsored enterprises 12,851 55 13,881 351 26,732 406 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 6,039 230 6,039 230 Total $ 25,905 $ 132 $ 189,472 $ 3,924 $ 215,377 $ 4,056 The Company had 70 investment securities, consisting of 6 tax-exempt and 22 taxable state and municipal obligations, 18 U.S. government-sponsored enterprise securities and 24 mortgage-backed securities that were in unrealized loss positions at December 31, 2019. Of these securities, 16 U.S. government–sponsored enterprise securities, 17 mortgage-backed securities and 2 tax-exempt state and municipal securities were in a continuous unrealized loss position for twelve months or more. Management does not consider the unrealized losses on the debt securities, as a result of changes in interest rates, to be OTTI based on historical evidence that indicates the cost of these securities is recoverable within a reasonable period of time in relation to normal cyclical changes in the market rates of interest. Moreover, because there has been no material change in the credit quality of the issuers or other events or circumstances that may cause a significant adverse impact on the fair value of these securities, and management does not intend to sell these securities and it is unlikely that the Company will be required to sell these securities before recovery of their amortized cost basis, which may be maturity, the Company does not consider the unrealized losses to be OTTI at December 31, 2019. There was no OTTI recognized for each of the years in the three-year period ended December 31, 2019. Other assets include the Company’s investment in Visa Class B stock. The Company’s ownership includes shares acquired at no cost related to the Company’s prior ownership in Visa's network while Visa operated as a cooperative. The Company holds 44,982 shares of Visa Class B stock which, following resolution of Visa litigation, will be converted to Visa Class A shares (the conversion rate as of December 31, 2019 is 1.6228 shares of Class A stock for each share of Class B stock) for a total of 72,997 shares of Visa Class A stock. There is a very limited market for this stock, as only current owners of Class B shares are permitted to transact in Class B. Due to the lack of orderly trades and public information of such trades, Visa Class B stock has no readily determinable fair value and is carried at cost.

Loans, net and allowance for lo

Loans, net and allowance for loan losses	12 Months Ended
	Dec. 31, 2019
Loans, net and allowance for loan losses
Loans, net and allowance for loan losses	4. Loans, net and allowance for loan losses: The major classifications of loans outstanding, net of deferred loan origination fees and costs at December 31, 2019 and 2018 are summarized as follows. Net deferred loan costs included in loan balances were $908 and $744 in 2019 and 2018, respectively. December 31, 2019 December 31, 2018 Commercial $ 522,957 $ 494,134 Real estate: Commercial 1,011,423 907,803 Residential 301,378 299,876 Consumer 102,482 121,453 Total $ 1,938,240 $ 1,823,266 Loans outstanding to directors, executive officers, principal stockholders or to their affiliates totaled $12,248 and $14,701 at December 31, 2019 and 2018, respectively. Advances and repayments during 2019 totaled $7,857 and $9,376 respectively. There were no related party loans that were classified as nonaccrual, past due, or restructured at December 31, 2019 and 2018. Deposits from related parties amounted to $12.9 million at December 31, 2019 and $16.2 million at December 31, 2018. At December 31, 2019, the majority of the Company’s loans were at least partially secured by real estate in the eastern Pennsylvania and southern tier New York counties. Therefore, a primary concentration of credit risk is directly related to the real estate market in these regions. Changes in the general economy, local economy or in the real estate market could affect the ultimate collectability of this portion of the loan portfolio. Management does not believe there are any other significant concentrations of credit risk that could affect the loan portfolio. The changes in the allowance for loan losses account by major classification of loan for the year ended December 31, 2019, 2018, and 2017 were as follows: Real estate December 31, 2019 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning balance $ 5,516 $ 10,736 $ 3,892 $ 1,235 $ 21,379 Charge-offs (3,314) (817) (477) (459) (5,067) Recoveries 69 1 29 166 265 Provisions 4,617 1,576 (218) 125 6,100 Ending balance $ 6,888 $ 11,496 $ 3,226 $ 1,067 $ 22,677 Ending balance: individually evaluated for impairment 363 279 135 777 Ending balance: collectively evaluated for impairment $ 6,525 $ 11,217 $ 3,091 $ 1,067 $ 21,900 Loans receivable: Ending balance $ 522,957 $ 1,011,423 $ 301,378 $ 102,482 $ 1,938,240 Ending balance: individually evaluated for impairment 4,658 3,048 2,153 261 10,120 Ending balance: collectively evaluated for impairment $ 518,299 $ 1,008,375 $ 299,225 $ 102,221 $ 1,928,120 The allowance for loan losses increased $1.3 million to $22.7 million at December 31, 2019, from $21.4 million at the end of 2018. The increase resulted from a provision for loan losses of $6.1 million less net loans charged-off of $4.8 million. The charge-offs for fiscal 2019 primarily occurred in the fourth quarter. We charged-off $3.3 million of commercial loans in 2019 substantially all of which were in the fourth quarter. Included in this amount was $2.3 million related to certain small business lines of credit in our Greater Delaware Valley market. In March 2020, we identified certain issues with a group of small business lines of credit, all of which had been originated by one of our lenders. All of these lines of credit were subject to credit review at origination and were considered satisfactory at such time. As a number of these lines of credit entered our annual renewal process, we identified changes in the credit quality of the borrowers which warranted action. We commenced a full review of this lender’s portfolio, as well as a review of other loans in our portfolio with similar characteristics. As a result of our review, we determined a number of the small business lines of credit originated by the particular lender to be impaired and collection doubtful at December 31, 2019. As such, we have charged-off $2.3 million of these loans and established a specific reserve of $0.3 million on one other line of credit retrospectively to December 31, 2019. All remaining small business commercial lines of credit for this lender were downgraded to special mention. We believe that all of the other loans in our portfolio with similar characteristics that were subject to our review were properly reflected in our allowance methodology at December 31, 2019. Real estate December 31, 2018 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning balance $ 5,513 $ 8,944 $ 3,111 $ 1,392 $ 18,960 Charge-offs (154) (1,250) (405) (545) (2,354) Recoveries 137 136 98 202 573 Provisions 20 2,906 1,088 186 4,200 Ending balance $ 5,516 $ 10,736 $ 3,892 $ 1,235 $ 21,379 Ending balance: individually evaluated for impairment 50 403 666 60 1,179 Ending balance: collectively evaluated for impairment $ 5,466 $ 10,333 $ 3,226 $ 1,175 $ 20,200 Loans receivable: Ending balance $ 494,134 $ 907,803 $ 299,876 $ 121,453 $ 1,823,266 Ending balance: individually evaluated for impairment 2,237 3,121 4,071 212 9,641 Ending balance: collectively evaluated for impairment $ 491,897 $ 904,682 $ 295,805 $ 121,241 $ 1,813,625 Real estate December 31, 2017 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning balance $ 4,452 $ 7,548 $ 2,961 $ 1,000 $ 15,961 Charge-offs (173) (706) (533) (737) (2,149) Recoveries 20 124 44 160 348 Provisions 1,214 1,978 639 969 4,800 Ending balance $ 5,513 $ 8,944 $ 3,111 $ 1,392 $ 18,960 Ending balance: individually evaluated for impairment 159 263 336 8 766 Ending balance: collectively evaluated for impairment $ 5,354 $ 8,681 $ 2,775 $ 1,384 $ 18,194 Loans receivable: Ending balance $ 476,199 $ 786,210 $ 287,935 $ 142,721 $ 1,693,065 Ending balance: individually evaluated for impairment 2,463 4,289 3,793 177 10,722 Ending balance: collectively evaluated for impairment $ 473,736 $ 781,921 $ 284,142 $ 142,544 $ 1,682,343 The following tables present the major classification of loans summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company’s internal risk rating system at December 31, 2019 and 2018: Special December 31, 2019 Pass Mention Substandard Doubtful Total Commercial $ 513,994 $ 3,837 $ 5,126 $ $ 522,957 Real estate: Commercial 993,645 2,508 15,270 1,011,423 Residential 298,449 597 2,332 301,378 Consumer 102,145 337 102,482 Total $ 1,908,233 $ 6,942 $ 23,065 $ $ 1,938,240 Special December 31, 2018 Pass Mention Substandard Doubtful Total Commercial $ 491,531 $ 869 $ 1,734 $ $ 494,134 Real estate: Commercial 886,849 8,934 12,020 907,803 Residential 295,758 357 3,761 299,876 Consumer 121,229 224 121,453 Total $ 1,795,367 $ 10,160 $ 17,739 $ $ 1,823,266 The increase in commercial special mention loans was primarily due to the downgrade of approximately $2.5 million of small business loans originated by a specific lender that exhibit potential weaknesses that could impact collectability. The increase in substandard commercial loans is due to two relationships that have encountered some financial difficulties, however, both are considered adequately collateralized at December 31, 2019. The decrease in special mention commercial real estate loans and the resulting increase in substandard loans was primarily associated with the downgrade of a $5.1 million commercial real estate credit relationship that was subsequently paid in full during January 2020. The decline in outstanding substandard residential real estate loans was primarily due to the sale of $1.1 million in non-performing residential real estate loans during the first quarter of 2019. Information concerning nonaccrual loans by major loan classification at December 31, 2019 and 2018 is summarized as follows: December 31, 2019 December 31, 2018 Commercial $ 3,336 $ 776 Real estate: Commercial 2,765 2,663 Residential 1,148 2,580 Consumer 261 212 Total $ 7,510 $ 6,231 The major classification of loans by past due status at December 31, 2019 and 2018 are summarized as follows: Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and December 31, 2019 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 75 $ 3,036 $ 3,111 $ 519,846 $ 522,957 Real estate: Commercial 926 $ 175 2,765 3,866 1,007,557 1,011,423 Residential 2,164 1,227 1,526 4,917 296,461 301,378 $ 378 Consumer 523 123 261 907 101,575 102,482 Total $ 3,688 $ 1,525 $ 7,588 $ 12,801 $ 1,925,439 $ 1,938,240 $ 378 Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and December 31, 2018 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 973 $ 79 $ 776 $ 1,828 $ 492,306 $ 494,134 Real estate: Commercial 1,889 218 2,736 4,843 902,960 907,803 $ 73 Residential 2,486 1,545 3,430 7,461 292,415 299,876 850 Consumer 756 292 212 1,260 120,193 121,453 Total $ 6,104 $ 2,134 $ 7,154 $ 15,392 $ 1,807,874 $ 1,823,266 $ 923 The increase in loans greater than ninety days delinquent at December 31, 2019 when compared to December 31, 2018 is due primarily to one commercial relationship involving four separate credits totaling $2.6 million which were placed on non-accrual during 2019. As of December 31, 2019, sufficient collateral supported the outstanding balances. The following tables summarize information concerning impaired loans as of and for the years ended December 31, 2019, 2018 and 2017 by major loan classification: For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2019 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 3,638 $ 4,175 $ 3,907 $ 63 Real estate: Commercial 1,918 2,205 2,385 38 Residential 1,718 2,060 1,362 25 Consumer 261 274 233 Total 7,535 8,714 7,887 126 With an allowance recorded: Commercial 1,020 1,038 363 1,012 32 Real estate: Commercial 1,130 1,811 279 1,050 10 Residential 435 450 135 1,408 29 Consumer 20 Total 2,585 3,299 777 3,490 71 Total impaired loans Commercial 4,658 5,213 363 4,919 95 Real estate: Commercial 3,048 4,016 279 3,435 48 Residential 2,153 2,510 135 2,770 54 Consumer 261 274 253 Total $ 10,120 $ 12,013 $ 777 $ 11,377 $ 197 For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2018 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 1,562 $ 1,900 $ 1,318 $ 67 Real estate: Commercial 1,969 2,299 2,822 28 Residential 1,970 2,658 2,193 22 Consumer 152 160 135 Total 5,653 7,017 6,468 117 With an allowance recorded: Commercial 675 675 50 1,006 30 Real estate: Commercial 1,152 1,323 403 1,676 18 Residential 2,101 2,328 666 1,585 22 Consumer 60 60 60 21 Total 3,988 4,386 1,179 4,288 70 Total impaired loans Commercial 2,237 2,575 50 2,324 97 Real estate: Commercial 3,121 3,622 403 4,498 46 Residential 4,071 4,986 666 3,778 44 Consumer 212 220 60 156 Total $ 9,641 $ 11,403 $ 1,179 $ 10,756 $ 187 For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2017 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 1,279 $ 1,439 $ 1,668 $ Real estate: Commercial 2,888 3,190 2,985 Residential 2,196 2,672 2,227 Consumer 169 181 173 Total 6,532 7,482 7,053 88 With an allowance recorded: Commercial 1,184 1,218 $ 159 991 50 Real estate: Commercial 1,401 1,496 263 2,202 18 Residential 1,597 1,759 336 1,335 23 Consumer 8 8 8 20 Total 4,190 4,481 766 4,548 91 Total impaired loans Commercial 2,463 2,657 159 2,659 93 Real estate: Commercial 4,289 4,686 263 5,187 42 Residential 3,793 4,431 336 3,562 44 Consumer 177 189 8 193 Total $ 10,722 $ 11,963 $ 766 $ 11,601 $ 179 There were no amounts of interest income recognized using the cash-basis method on impaired loans for the years ended December 31, 2019, 2018 and 2017. Included in the commercial loan, commercial real estate and residential real estate categories are troubled debt restructurings that were classified as impaired. Trouble debt restructurings totaled $2,193 and $2,779 at December 31, 2019 and 2018 respectively. There was one loan modified in 2019, one loan modified in 2018 and six loans modified in 2017 that resulted in troubled debt restructurings. The following tables summarize the loans whose terms have been modified resulting in troubled debt restructurings during the year ended December 31, 2019 and 2018 and 2017. Pre-Modification Post-Modification Number Outstanding Recorded Outstanding Recorded December 31, 2019 of Contracts Investment Recorded Investment Investment Commercial real estate 1 $ 346 $ 346 $ 241 Pre-Modification Post-Modification Number Outstanding Recorded Outstanding Recorded December 31, 2018 of Contracts Investment Recorded Investment Investment Commercial real estate 1 $ 340 $ 340 $ 340 Pre-Modification Post-Modification Number Outstanding Recorded Outstanding Recorded December 31, 2017 of Contracts Investment Recorded Investment Investment Commercial 2 $ 885 $ 885 $ 864 Commercial real estate 3 721 721 700 Residential mortgage 1 64 64 64 Total 6 $ 1,670 $ 1,670 $ 1,628 There were no payment defaults within 12 months of its modification on loans considered troubled debt restructurings for the years ended December 31, 2019, December 31, 2018 and December 31, 2017. The amount of residential loans in the formal process of foreclosure totaled $665 at December 31, 2019 and $1,823 at December 31, 2018.

Off-balance sheet financial ins

Off-balance sheet financial instruments	12 Months Ended
	Dec. 31, 2019
Off-balance sheet financial instruments.
Off-balance sheet financial instruments	5. Off-balance sheet financial instruments: The Company is a 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 extend credit, unused portions of lines of credit and standby letters of credit. Those instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized in the consolidated balance sheets. The Company’s exposure to credit loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit, unused portions of lines of credit and standby letters of credit is represented by the contractual amounts of those instruments. The Company follows the same credit policies in making commitments and conditional obligations as it does for on-balance sheet instruments. The Company records a valuation allowance for off-balance sheet credit losses, if deemed necessary, separately as a liability. The allowance is not significant. The contractual amounts of off-balance sheet commitments at December 31, 2019 and 2018 are summarized as follows: December 31 2019 2018 Commitments to extend credit $ 290,517 $ 294,122 Unused portions of lines of credit 52,168 51,790 Standby letters of credit 45,018 33,275 $ 387,703 $ 379,187 Commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. 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. Collateral held varies but may include personal or commercial real estate, accounts receivable, inventory and equipment. Unused portions of lines of credit, including home equity and overdraft protection agreements, are commitments for possible future extensions of credit to existing customers. Unused portions of home equity lines are collateralized and generally have fixed expiration dates. Overdraft protection agreements are uncollateralized and usually do not carry specific maturity dates. Unused portions of lines of credit ultimately may not be drawn upon to the total extent to which the Company is committed. Standby letters of credit are conditional commitments issued by the Company to guarantee the performance of a customer to a third party. Generally, all standby letters of credit expire within twelve months. The credit risk involved in issuing standby letters of credit is essentially the same as that involved in extending other loan commitments. The Company requires collateral supporting these standby letters of credit as deemed necessary. Collateral supporting standby letters of credit amounted to $31,893 at December 31, 2019 and $22,415 at December 31, 2018. The carrying value of the liability for the Company’s obligations under guarantees for standby letters of credit was not material at December 31, 2019 and 2018.

Premises and equipment, net

Premises and equipment, net	12 Months Ended
	Dec. 31, 2019
Premises and equipment, net
Premises and equipment, net	6. Premises and equipment, net: Premises and equipment at December 31, 2019 and 2018 are summarized as follows: December 31 2019 2018 Land $ 5,535 $ 5,535 Premises and leasehold improvements 47,705 44,813 Right-of-use assets 6,125 Furniture, fixtures and equipment 17,422 14,812 76,787 65,160 Less: accumulated depreciation 28,855 26,271 $ 47,932 $ 38,889

Operating lease commitments and

Operating lease commitments and contingencies	12 Months Ended
	Dec. 31, 2019
Operating lease commitments and contingencies
Operating lease commitments and contingencies	7. Operating lease commitments and contingencies: The Company is obligated under non-cancelable operating leases for certain branch locations and its loan production office. We determine if an arrangement is a lease at inception by assessing whether a contract contains a right to control an identified asset for a period of time in exchange for consideration. For all leases, we recognize a right-of-use asset and lease liability at the effective date of the lease. Operating leases right-of-use assets are included in premises and equipment, and lease liabilities are included in other liabilities in the consolidated balance sheet commencing at January 1, 2019. We have no finance leases. Leases with an initial term of 12 months or less are not recorded on the balance sheet and the related lease expense is recognized on a straight-line basis over the lease term. Certain leases include options to renew, with renewal terms generally containing one or more five-year renewal options. At December 31, 2019, the Company’s leases have remaining renewal terms that can extend the lease term from three years to twenty-two years that are reasonably certain of being exercised. The weighted average remaining lease term is sixteen years. The discount rate used in determining the lease liability for each individual lease was the FHLB fixed advance rate which corresponded with the remaining lease term as of January 1, 2019 for leases that existed at adoption and as of the lease commencement date for leases subsequently entered into after January 1, 2019. At December 31, 2019, discount rates ranged from 2.89% to 3.85% with an-average discount rate of 3.46%. At December 31, 2019, right-of-use assets of $6,125 were included in premises and equipment, and the related lease liability totaled $6,194 and was included in other liabilities in the consolidated balance sheet. The lease liability decreased due to payments of $578 offset by $249 of lease expense. Rent expense for the years ended December 31, 2019, 2018 and 2017 amounted to $601, $492, and $407, respectively, and are included in occupancy expenses. Future minimum lease payments under operating leases are summarized as follows: 2020 $ 597 2021 585 2022 589 2023 508 2024 435 Thereafter 5,513 Total future minimum lease payments 8,227 Less amount representing interest (2,033) Present value of future minimum lease payments $ 6,194

Intangible assets, net

Intangible assets, net	12 Months Ended
	Dec. 31, 2019
Intangible assets, net
Intangible assets, net	8. Intangible assets, net: The gross carrying amount of core deposit intangible assets totaled $8,146 at December 31, 2019 and 2018. The gross carrying amount of trade name intangible assets totaled $203 at December 31, 2019 and 2018. The gross carrying amount of the intangible asset related to the acquisition of an asset management and retirement plan services company acquired in 2015 totaled $1,091 at December 31, 2019 and 2018. The accumulated amortization on core deposit intangible assets was $7,071 and $6,515 at December 31, 2019 and 2018, respectively. The accumulated amortization trade name intangible assets was $168 and $149 at December 31, 2019 and 2018, respectively. The accumulated amortization on the asset management and retirement plan services intangible asset was $636 and $480 at December 31, 2019 and 2018, respectively. The estimated amortization expense on intangible assets in years subsequent to December 31, 2019, is as follows: 2020 $ 606 2021 491 2022 363 2023 105 Total $ 1,565

Other assets

Other assets	12 Months Ended
	Dec. 31, 2019
Other assets.
Other assets	9. Other assets: The major components of other assets at December 31, 2019 and 2018 are summarized as follows: December 31, 2019 December 31, 2018 Other real estate owned $ 450 $ 376 Investment in low income housing partnership 6,901 7,377 Mortgage servicing rights 738 718 Bank owned life insurance 35,041 34,288 Restricted equity securities (FHLB and other) 10,201 7,462 Net deferred tax asset 3,362 5,081 Interest rate floor 944 553 Interest rate swaps 4,728 108 Other assets 6,855 7,774 Total $ 69,220 $ 63,737 The Company originates one-to-four family residential mortgage loans for sale in the secondary market with servicing rights retained. Mortgage loans serviced for others are not included in the accompanying Consolidated Balance Sheets. The unpaid principal balances of mortgage loans serviced for others were $159,587 at December 31, 2019 and $165,610 at December 31, 2018.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2019
Deposits.
Deposits	10. Deposits: The major components of interest-bearing and noninterest-bearing deposits at December 31, 2019 and 2018 are summarized as follows: December 31 2019 2018 Interest-bearing deposits: Money market accounts $ 365,463 $ 328,949 Now accounts 402,999 421,414 Savings accounts 370,270 378,157 Time deposits less than $250 231,450 250,456 Time deposits $250 or more 138,069 85,786 Total interest-bearing deposits 1,508,251 1,464,762 Noninterest-bearing deposits 463,238 410,260 Total deposits $ 1,971,489 $ 1,875,022 The aggregate amounts of maturities for all time deposits at December 31, 2019, are summarized as follows: 2020 $ 264,824 2021 50,398 2022 13,775 2023 19,837 2024 13,997 Thereafter 6,688 $ 369,519 The aggregate amount of deposits reclassified as loans was $363 at December 31, 2019, and $343 at December 31, 2018. Management evaluates transaction accounts that are overdrawn for collectability as part of its evaluation for credit losses.

Short-term borrowings

Short-term borrowings	12 Months Ended
	Dec. 31, 2019
Short-term borrowings
Short-term borrowings	11. Short-term borrowings: Short-term borrowings consisted of FHLB advances representing overnight borrowings or borrowings with original terms of less than twelve months at December 31, 2019, 2018 and 2017: At and for the year ended December 31, 2019 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of Year FHLB advances $ 152,150 $ 62,941 $ 152,150 2.61 % 1.84 % At and for the year ended December 31, 2018 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of the Year FHLB advances $ 86,500 $ 133,834 $ 189,275 2.05 % 2.62 % At and for the year ended December 31, 2017 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of the Year FHLB advances $ 123,675 $ 76,846 $ 123,675 1.17 % 1.54 % The Company has an agreement with the FHLB which allows for borrowings up to its maximum borrowing capacity based on a percentage of qualifying collateral assets. At December 31, 2019, the maximum borrowing capacity was $723,608 of which $184,883 was outstanding in borrowings and $185,750 was used to issue standby letters of credit to collateralize public fund deposits. Advances with the FHLB are secured under terms of a blanket collateral agreement by a pledge of FHLB stock and certain other qualifying collateral, such as investments and mortgage-backed securities and mortgage loans. Interest accrues daily on the FHLB advances based on rates of the FHLB discount notes. This rate resets each day. The Company also has unsecured line of credit agreements with two correspondent banks, where the total line amount was $18,000 at December 31, 2019 and 2018. There were no amounts outstanding on either line of credit at December 31, 2019 or 2018. Interest on these borrowings accrues daily based on the daily federal funds rate.

Long-term debt

Long-term debt	12 Months Ended
	Dec. 31, 2019
Long-term debt.
Long-term debt	12. Long-term debt: Long-term debt consisting of advances from the FHLB at December 31, 2019 and 2018 are as follows: Interest Rate Due Fixed Adjustable December 31, 2019 December 31, 2018 December 2019 3.48 % $ 3,000 December 2019 3.37 6,300 December 2019 1.62 % 10,000 June 2020 1.74 5,000 5,000 June 2020 2.22 6,000 December 2020 1.84 5,000 5,000 June 2021 1.99 10,000 March 2023 4.69 6,733 8,606 $ 32,733 $ 37,906 Maturities of long-term debt, by contractual maturity, in years subsequent to December 31, 2019 are as follows: 2020 $ 17,963 2021 12,058 2022 2,157 2023 555 $ 32,733 None of the advances from the FHLB are convertible. At December 31, 2019, long-term debt are all at fixed rates. There were two new long-term advances entered into with the FHLB during 2019 totaling $16,000 with terms of one year and two years. There were no new advances entered into during 2018.

Fair value of financial instrum

Fair value of financial instruments	12 Months Ended
	Dec. 31, 2019
Fair value of financial instruments
Fair value of financial instruments	13. Fair value of financial instruments: Assets and liabilities measured at fair value on a recurring basis at December 31, 2019 and 2018 are summarized as follows: Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2019 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 24,128 $ 24,128 $ U.S. government-sponsored enterprises 87,110 $ 87,110 State and municipals: Taxable 34,898 34,898 Tax-exempt 60,163 60,163 Mortgage-backed securities: U.S. government agencies 8,470 8,470 U.S. government-sponsored enterprises 115,709 115,709 Common equity securities 423 423 Interest rate floor-other assets 944 944 Interest rate swap-other assets 4,728 4,728 Interest rate swap-other liabilities (4,680) (4,680) Total $ 331,893 $ 24,551 $ 307,342 $ Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2018 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 25,592 $ 25,592 $ U.S. government-sponsored enterprises 92,818 $ 92,818 State and municipals: Taxable 13,853 13,853 Tax-exempt 85,954 85,954 Mortgage-backed securities: U.S. government agencies 12,629 12,629 U.S. government-sponsored enterprises 38,836 38,836 Common equity securities 291 291 Interest rate floor-other assets 553 553 Interest rate swap-other assets 108 108 Interest rate swap-other liabilities (138) (138) Total $ 270,496 $ 25,883 $ 244,613 $ Assets and liabilities measured at fair value on a nonrecurring basis at December 31, 2019 and 2018 are summarized as follows: Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2019 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 1,808 $ 1,808 Other real estate owned $ 283 $ 283 Fair Value Measurement Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs December 31, 2018 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 2,809 $ 2,809 Other real estate owned $ 234 $ 234 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which the Company has utilized Level 3 inputs to determine fair value: Quantitative Information about Level 3 Fair Value Measurements Fair Value Range December 31, 2019 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 1,808 Appraisal of collateral Appraisal adjustments 8.6% to 97.0% (54.4)% Liquidation expenses 3.0% to 6.0% (5.2)% Other real estate owned $ 283 Appraisal of collateral Appraisal adjustments 20.0% to 63.6% (43.7)% Liquidation expenses 3.0% to 6.0% (5.0)% Quantitative Information about Level 3 Fair Value Measurements Fair Value Range December 31, 2018 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 2,809 Appraisal of collateral Appraisal adjustments 7.1% to 97.0% (61.8)% Liquidation expenses 3.0% to 6.0% (4.4)% Other real estate owned $ 234 Appraisal of collateral Appraisal adjustments 26.0% to 73.3% (38.9)% Liquidation expenses 3.0% to 6.0% (5.0)% Fair value is generally determined through independent appraisals of the underlying collateral, which generally include various Level 3 Inputs which are not identifiable. Appraisals may be adjusted by management for qualitative factors such as economic conditions and estimated liquidation expenses. The range and weighted average of liquidation expenses and other appraisal adjustments are presented as a percent of the appraisal. The carrying and fair values of the Company’s financial instruments at December 31, 2019 and 2018 and their placement within the fair value hierarchy are as follows: Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Fair Assets Inputs Inputs December 31, 2019 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and cash equivalents $ 31,153 $ 31,153 $ 31,153 Investment securities: Available-for-sale 330,478 330,478 24,128 $ 306,350 Common equity securities 423 423 423 Held-to-maturity 7,656 7,889 7,889 Loans held for sale 986 986 986 Net loans 1,915,563 1,881,658 $ 1,881,658 Accrued interest receivable 6,981 6,981 6,981 Mortgage servicing rights 738 1,444 1,444 Restricted equity securities (FHLB and other) 10,201 10,201 10,201 Interest rate floor 944 944 944 Interest rate swaps 4,728 4,728 4,728 Total $ 2,309,851 $ 2,276,885 Financial liabilities: Deposits $ 1,971,489 $ 1,972,084 $ 1,972,084 Long-term debt 32,733 33,075 33,075 Accrued interest payable 1,277 1,277 1,277 Interest rate swaps 4,680 4,680 4,680 Total $ 2,010,179 $ 2,011,116 Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Fair Assets Inputs Inputs December 31, 2018 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and cash equivalents $ 32,616 $ 32,616 $ 32,616 Investment securities: Available-for-sale 269,682 269,682 25,952 $ 244,090 Common equity securities 291 291 291 Held-to-maturity 8,361 8,380 8,380 Loans held for sale 749 749 749 Net loans 1,801,887 1,762,449 $ 1,762,449 Accrued interest receivable 7,115 7,115 7,115 Mortgage servicing rights 718 1,710 1,710 Restricted equity securities (FHLB and other) 7,462 7,462 7,462 Interest rate floor 553 553 553 Interest rate swaps 108 108 108 Total $ 2,129,542 $ 2,091,115 Financial liabilities: Deposits $ 1,875,022 $ 1,874,520 $ 1,874,520 Short-term borrowings 86,500 86,500 86,500 Long-term debt 37,906 38,071 38,071 Accrued interest payable 1,195 1,195 1,195 Interest rate swaps 138 138 138 Total $ 2,000,761 $ 2,000,424

Derivatives and hedging activit

Derivatives and hedging activities	12 Months Ended
	Dec. 31, 2019
Derivatives and hedging activities
Derivatives and hedging activities	14. Derivatives and hedging activities: Risk Management Objective of Using Derivatives The Company is exposed to certain risk arising from both its business operations and economic conditions. The Company principally manages its exposures to a wide variety of business and operational risks through management of its core business activities. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of its assets and liabilities and the use of derivative financial instruments. Specifically, the Company enters into derivative financial instruments to manage exposures that arise from business activities that result in the receipt or payment of future known and uncertain cash amounts, the value of which are determined by interest rates. The Company’s derivative financial instruments are used to manage differences in the amount, timing, and duration of the Company’s known or expected cash receipts principally related to the Company’s assets. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest income and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate floors as part of its interest rate risk management strategy. Interest rate floors designated as cash flow hedges involve the receipt of variable-rate amounts from a counterparty if interest rates fall below the strike rate on the contract in exchange for an up-front premium. For derivatives designated and that qualify as cash flow hedges of interest rate risk, the gain or loss on the derivative is recorded in accumulated other comprehensive loss and subsequently reclassified into interest income in the same period(s) during which the hedged transaction affects earnings. Gains and losses on the derivative representing hedge components excluded from the assessment of effectiveness are recognized over the life of the hedge on a systematic and rational basis. The earnings recognition of excluded components is presented in interest income. Amounts reported in accumulated other comprehensive loss related to derivatives will be reclassified to interest income as interest payments are received on the Company’s variable-rate assets. During 2020, the Company estimates that an additional $64 will be reclassified as a reduction to interest income. Non-designated Hedges Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain customers, which the Company implemented during the third quarter of 2017. The Company executes interest rate swaps with commercial banking customers to facilitate their respective risk management strategies. Those interest rate swaps are simultaneously hedged by offsetting interest rate swaps that the Company executes with a third party, such that the Company minimizes its net risk exposure resulting from such transactions. As the interest rate swaps associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer swaps and the offsetting swaps are recognized directly in earnings. As of December 31, 2019, the Company had 30 interest rate swaps with an aggregate notional amount of $172,096 related to this program. Fair Values of Derivative Instruments on the Balance Sheet The table below presents the fair value of the Company’s derivative financial instruments as well as their classification on the Consolidated Balance Sheets as of December 31, 2019 and December 31, 2018. Asset Derivatives Asset Derivatives Liability Derivatives Liability Derivatives As of December 31, 2019 As of December 31, 2018 (1) As of December 31, 2019 As of December 31, 2018 (2) Notional Balance Sheet Balance Sheet Balance Sheet Balance Sheet Amount Location Fair Value Location Fair Value Location Fair Value Location Fair Value Derivatives designated as hedging instruments Interest Rate Floor $ 25,000 Other Assets $ 944 Other Assets $ Total derivatives designated as hedging instruments $ 944 $ Derivatives not designated as hedging instruments Interest Rate Swaps $ 172,096 Other Assets $ 4,728 Other Assets $ 108 Other Liabilities $ 4,680 Other Liabilities $ 138 Total derivatives not designated as hedging instruments $ 4,728 $ 108 $ 4,680 $ 138 (1) Assets amount does not include accrued interest receivable of $55 (2) Liabilities amount does not include accrued interest payable of $55 Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Loss The table below presents the effect of fair value and cash flow hedge accounting on accumulated other comprehensive loss as of December 31, 2019 and December 31, 2018. Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain Loss Loss Gain Gain Recognized from Loss Reclassified Reclassified Recognized in Recognized in Recognized in Accumulated Reclassified from Accumulated from Accumulated Derivatives in OCI on OCI Included OCI Excluded Other Comprehensive from Accumulated OCI into Income OCI into Income Hedging Derivative Component Component Income into OCI into Income Included Component Excluded Component Relationships December 31, 2019 Income December 31, 2019 Derivatives in Cash Flow Hedging Relationships Interest Rate Floor (*) $ 192 $ 196 $ (4) Interest Income $ 26 $ 42 $ (16) Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain Loss Loss Gain Gain Recognized from Loss Reclassified Reclassified Recognized in Recognized in Recognized in Accumulated Reclassified from Accumulated from Accumulated Derivatives in OCI on OCI Included OCI Excluded Other Comprehensive from Accumulated OCI into Income OCI into Income Hedging Derivative Component Component Income into OCI into Income Included Component Excluded Component Relationships December 31, 2018 Income December 31, 2018 Derivatives in Cash Flow Hedging Relationships Interest Rate Floor (*) $ 243 $ 109 $ 134 Interest Income $ (3) $ 13 $ (16) * Amounts disclosed are gross and not net of taxes. Effect of Fair Value and Cash Flow Hedge Accounting on the Income Statement The table below presents the effect of the Company’s derivative financial instruments on the consolidated statements of income and comprehensive income as of December 31, 2019 and December 31, 2018. Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships 2019 2018 Interest Income Interest Income Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded $ 26 $ (3) The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships Interest contracts Amount of gain or (loss) reclassified from accumulated other comprehensive income into income $ 26 $ (3) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component 42 13 Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component $ (16) $ (16) Effect of Other Derivative Instruments on the Income Statement The tables below present the effect of the Company’s other derivative financial instruments on the consolidated statements of income and comprehensive income for the years ended December 31, 2019 and 2018. Amount of Loss Amount of Loss Recognized in Recognized in Location of Gain or (Loss) Income Income Recognized in Income on Twelve Months Ended Twelve Months Ended Derivatives Not Designated as Hedging Instruments Derivative December 31, 2019 December 31, 2018 Interest Rate Swaps Other non-interest income $ 36 $ 49 Fee Income Other income / (expense) $ 36 $ 53 Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of December 31, 2019 and December 31, 2018. The net amounts of derivative assets or liabilities can be reconciled to the tabular disclosure of fair value. The tabular disclosure of fair value provides the location that derivative assets and liabilities are presented on the consolidated balance sheets. Offsetting of Derivative Assets as of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 5,672 $ $ 5,672 $ $ 5,672 Offsetting of Derivative Liabilities as of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 4,680 $ $ 4,680 $ $ 4,680 Offsetting of Derivative Assets as of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 661 $ $ 661 $ $ 661 Offsetting of Derivative Liabilities as of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 138 $ $ 138 $ $ 138 Credit-risk-related Contingent Features The Company has agreements with certain of its derivative counterparties that contain a provision where if the Company defaults on any of its indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then the Company could also be declared in default on its derivative obligations. The Company also has agreements with certain of its derivative counterparties that contain a provision where if the Company fails to maintain its status as a well capitalized institution, then the counterparty could terminate the derivative positions and the Company would be required to settle its obligations under the agreements. The Company has agreements with certain of its derivative counterparties that contain provisions that require the Company’s debt to maintain an investment grade credit rating from each of the major credit rating agencies. If the Company’s credit rating is reduced below investment grade then a termination event shall be deemed to have occurred and the non-affected counterparty shall have the right but not obligation to terminate all affected transactions under the agreement. As of December 31, 2019 the termination value of derivatives in a net asset position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $48. The Company has minimum collateral posting thresholds with certain of its derivative counterparties under these agreements. The Company was in compliance with the terms of the above noted agreements at December 31, 2019.

Stock plans

Stock plans	12 Months Ended
	Dec. 31, 2019
Stock plans
Stock plans	15. Stock plans: The 2008 long-term incentive plan (“2008 Plan”) allowed for eligible participants to be granted equity awards. No awards may be made under the 2008 Plan after January 15, 2018. In May 2017, the Company’s stockholders approved the 2017 equity incentive plan (“2017 Plan”). The 2017 Plan allows for eligible participants to be granted equity awards. Under the 2017 Plan the Compensation Committee of the Board of Directors has the authority to, among other things: · Select the persons to be granted awards under the 2017 Plan. · Determine the type, size and term of awards. · Determine whether such performance objectives and conditions have been met. · Accelerate the vesting or excercisability of an award. Persons eligible to receive awards under the 2008 Plan and 2017 Plan include directors, officers, employees, consultants and other service providers of the Company and its subsidiaries. As of December 31, 2019, 72,535 shares of the Company’s common stock were available for grant as awards pursuant to the 2017 Plan. The 2008 Plan expired in January 2018 but will remain in effect in accordance with its terms to govern outstanding awards under that plan. If any outstanding awards under the 2017 Plan are forfeited by the holder or canceled by the Company, the underlying shares would be available for regrant to others. The 2017 Plan authorizes grants of stock options, stock appreciation rights, cash awards, performance awards, restricted stock and restricted stock units. In 2019, the Company awarded 3,855 shares of non-performance-based restricted stock and 13,490 performance-based restricted stock units under the 2017 Plan. In 2018, the Company awarded 2,548 shares of non-performance-based restricted stock and 8,920 performance-based restricted stock units under the 2017 Plan. In 2019, 2,140 shares of non-performance-based restricted stock and 928 shares of performance-based shares granted under the 2017 Plan vested along with 673 shares of non-performance-based restricted stock and 6,379 of performance-based shares granted under the 2008 Plan. There were 306 shares forfeited under the provisions of the 2017 Plan and 763 shares forfeited under the provisions of the 2008 plan. In 2018, 114 shares of non-performance-based restricted stock granted under the 2017 Plan vested along with 2,493 shares of non-performance-based restricted stock granted under the 2008 Plan. The non-performance restricted stock grants made in 2019 and 2018 vest equally over three years from the grant date. Grants of restricted stock made in prior periods cliff vest after five years. The performance-based restricted stock units vest three years after the grant date and include conditions based on the Company’s three year cumulative diluted earnings per share and three-year average return on equity that determines the number of restricted stock units that may vest. The activity related to restricted stock for each of the years ended December 31, 2019, 2018 and 2017 was as follows: Year Ended December 31 2019 2018 2017 Nonvested, January 1 21,309 12,448 12,362 Granted shares 17,345 11,468 10,628 Vested shares 10,120 2,607 10,542 Forfeited shares 1,069 Nonvested, December 31 27,465 21,309 12,448 The Company expenses the fair value of all-share based compensation over the requisite service period commencing at grant date. The fair value of restricted stock is expensed on a straight-line basis. Compensation is recognized over the vesting period and adjusted based on the performance criteria. The Company classifies share-based compensation for employees within “salaries and employee benefits expense” on the Consolidated Statements of Income and Comprehensive Income. In 2019, the Company recognized $433 for awards granted under the 2017 Plan and $122 for awards granted under the 2008 plan. In 2018, the Company recognized $149 for awards granted under the 2017 Plan and $123 for awards granted under the 2008 plan. In 2017, the Company recognized $21 for awards granted under the 2017 Plan and $156 for awards granted under the 2008 Plan. As of December 31, 2019, the Company had $486 of unrecognized compensation expense associated with restricted stock awards. The remaining cost is expected to be recognized over a weighted average vesting period of 1.8 years.

Employee benefit plans

Employee benefit plans	12 Months Ended
	Dec. 31, 2019
Employee benefit plans
Employee benefit plans	16. Employee benefit plans: The Company sponsors a separate ESOP and Retirement Profit Sharing 401(k) Plan. The Company also maintains SERPs and an employees’ pension plan, which is currently frozen. Under the ESOP, amounts voted by the Company’s board of directors are paid into the ESOP and each participant is credited with an amount in proportion to their annual compensation. All contributions to the ESOP are invested in or will be invested primarily in Company stock. Distribution of a participant’s ESOP account occurs upon retirement, death or termination in accordance with the plan provisions. Under the Retirement Profit Sharing Plan, amounts approved by the board of directors have been paid into a fund and each participant was credited with an amount in proportion to their annual compensation. Upon retirement, death or termination, each participant is paid the total amount of their credits in the fund in one of a number of optional ways in accordance with the plan provisions. Eligible participants may elect deferrals of up to the maximum amounts permitted by law. The Company contributed $357, $197 and $185 to the ESOP in 2019, 2018 and 2017. In addition, the Company contribution of $1,047, $1,047 and $923 to the Retirement Profit Sharing Plan in 2019, 2018 and 2017, was comprised of a safe harbor contribution of $627, $578 and $509 and a discretionary match of $512, $469 and $414. The Company established a SERP Plan to replace certain 401(k) plan benefits lost due to compensation limits imposed on qualified plans by federal tax law. The annual benefit is a maximum of 6% of the executive compensation in excess of Federal limits. The total liability associated with this plan was $133 and $116 at December 31, 2019 and 2018, respectively. The expense associated with the plan was $17, $20 and $20 for 2019, 2018 and 2017 respectively. The Company has SERPs for the benefit of certain officers. At December 31, 2019 and 2018, other liabilities include $2,077 and $1,845 accrued under the Plans. Compensation expense includes approximately $360, $335 and $314 relating to these SERPs for the years ended December 31, 2019, 2018 and 2017, respectively. Under the Employees’ Pension Plan, currently under curtailment, amounts computed on an actuarial basis were being paid by the Company into a trust fund. The plan provided for fixed benefits payable for life upon retirement at the age of 65, based on length of service and compensation levels as defined in the plan. As of June 22, 2008 no further benefits are being accrued in this plan. Plan assets of the trust fund are invested and administered by the Trust Department of the Company. Information related to the Employees’ Pension Plan is as follows: Pension Benefits December 31 2019 2018 Change in benefit obligation: Benefit obligation, beginning $ 16,338 $ 16,935 Interest cost 639 623 Change in experience gain 96 135 Change in actuarial assumptions loss (gain) 1,221 (546) Benefits paid (803) (809) Benefit obligation, ending 17,491 16,338 Change in plan assets: Fair value of plan assets, beginning 14,919 13,264 Actual return on plan assets 2,814 (236) Employer contributions 2,700 Benefits paid (803) (809) Fair value of plan assets, ending 16,930 14,919 Funded status at end of year $ (561) $ (1,419) The Society of Actuaries released new mortality tables in 2019 and 2018 which the Company utilized in its pension plan remeasurements at December 31, 2019 and 2018. The change in mortality assumption, coupled with changes in the discount rate, resulted in an increase to the benefit obligation of $1,221 in 2019 and a decrease of $546 in 2018. Amounts recognized in the consolidated balance sheets are as follows: Pension Benefits December 31 2019 2018 Liabilities $ 561 $ 1,419 Amounts recognized in the accumulated other comprehensive loss consist of: Net actuarial gain (6,579) (7,218) Deferred taxes 1,382 1,516 Net amount recognized $ (5,197) $ (5,702) The accumulated benefit obligation for the defined benefit pension plan was $17,491 and $16,338 at December 31, 2019 and 2018, respectively. Components of net periodic pension income and other amounts recognized in other comprehensive loss are as follows: Pension Benefits Years Ended December 31, 2019 2018 2017 Net periodic pension income: Interest cost $ 639 $ 623 $ 650 Expected return on plan assets (1,084) (960) (915) Amortization of unrecognized net loss 227 194 195 Net periodic pension income: (218) (143) (70) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): Net loss (gain) 639 (590) 318 Deferred tax (134) 124 (67) Total recognized in other comprehensive loss 505 (466) 251 Total recognized in net period pension cost and other comprehensive loss $ 287 $ (609) $ 181 The estimated net loss for the defined benefit pension plan that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over the next fiscal year is $201. Weighted-average assumptions used to determine benefit obligations and related expenses were as follows: Pension Benefits December 31, Discount rate: Obligation 3.25 % 4.00 % 3.75 % Expense 4.00 3.75 4.00 Expected long-term return on plan assets 7.50 % 7.50 % 7.50 % The expected long-term return on plan assets was determined using average historical returns of the Company’s plan assets. The Company’s pension plan weighted-average asset allocations at December 31, 2019 and 2018, by asset category are as follows: December 31, 2019 2018 Asset Category: Cash and cash equivalents 6.2 % 5.0 % Equity securities 61.9 56.2 Corporate bonds 20.6 23.6 U.S. government securities 11.3 15.2 % % Fair value measurement of pension plan assets at December 31, 2019 and 2018 is as follows: Quoted Prices in Active Markets Significant Significant for Identical Observable Observable Assets Inputs Inputs December 31, 2019 Total (Level 1) (Level 2) (Level 3) Cash $ 1,053 $ 1,053 $ Equity securities: U.S. large cap 9,663 9,663 International 817 817 Fixed income securities: U.S. Treasuries 202 $ 202 U.S. government agencies 1,713 1,713 Corporate bonds 3,482 3,482 Total $ 16,930 $ 11,533 $ 5,397 $ Quoted Prices in Active Markets Significant Significant for Identical Observable Observable Assets Inputs Inputs December 31, 2018 Total (Level 1) (Level 2) (Level 3) Cash $ 743 $ 743 $ Equity securities: U.S. large cap 7,687 7,687 International 694 694 Fixed income securities: U.S. Treasuries 192 $ 192 U.S. government agencies 2,085 2,085 Corporate bonds 3,518 3,518 Total $ 14,919 $ 9,124 $ 5,795 $ The Company investment policies and strategies with respect to the pension plan include: (i) the Trust and Investment Division’s equity philosophy is large-cap core with a value bias. We invest in individual high-grade common stocks that are selected from our approved list; (ii) diversification is maintained by having no more than 20% in any industry sector and no individual equity representing more than 10% of the portfolio; and (iii) the fixed income style is conservative but also responsive to the various needs of our individual clients. Fixed income securities consist of U.S. Government Agencies or corporate bonds rated “A” or better. The Company targets the following allocation percentages: (i) cash equivalents 10%; (ii) fixed income 40% ; and (iii) equities 50%. There is no Company stock included in equity securities at December 31, 2019 or 2018. The Company has not determined the amount of the expected contribution to the Employees’ Pension Plan for 2020. The following benefit payments are expected to be paid in the next five years and in the aggregate for the five years thereafter: Pension Benefits 2020 $ 867 2021 867 2022 904 2023 919 2024 969 Thereafter 5,071

Income taxes

Income taxes	12 Months Ended
	Dec. 31, 2019
Income taxes
Income taxes	17. Income taxes: The current and deferred amounts of the provision for income taxes expense (benefit) for each of the years ended December 31, 2019, 2018 and 2017 are summarized as follows: Year Ended December 31 2019 2018 2017 Current $ 2,761 $ 4,072 $ 6,515 Deferred 394 (681) 1,665 Total $ 3,155 $ 3,391 $ 8,180 The components of the net deferred tax asset at December 31, 2019 and 2018 are summarized as follows: December 31 2019 2018 Deferred tax assets: Allowance for loan losses $ 4,762 $ 4,490 Lease liability 1,301 Defined benefit plan 815 1,516 Deferred compensation 682 593 Deferred loan fees 525 470 Investment securities available-for-sale 683 Other 137 116 Total 8,222 7,868 Deferred tax liabilities: Lease right-of-use assets 1,286 Premises and equipment, net 1,350 985 Merger related accounting 850 1,083 Deferred loan costs 716 626 Investment securities available-for-sale 416 Other 242 93 Total 4,860 2,787 Net deferred tax asset $ 3,362 $ 5,081 Management believes that future taxable income will be sufficient to utilize deferred tax assets. Core earnings of the Company have remained strong and will continue to support the recognition of the deferred tax asset based on future growth projections. A reconciliation between the amount of the effective income tax expense and the income tax expense that would have been provided at the federal statutory rate of 21.0 percent for the years ended December 31, 2019 and December 31, 2018 and 35.0 percent for December 31, 2017 is summarized as follows: 2019 2018 2017 Year Ended December 31 Amount % Amount % Amount % Federal income tax at statutory rate $ 6,067 21.00 % $ 5,945 21.00 % $ 9,323 35.00 % Effect of federal income tax rate changes (Note 1) 2,623 9.85 Tax exempt interest (1,299) (4.50) (1,320) (4.66) (2,157) (8.10) Bank owned life insurance income (159) (0.55) (236) (0.83) (269) (1.01) Residential housing program tax credits (1,094) (3.79) (1,094) (3.87) (1,095) (4.11) Other, net (360) (1.25) 96 0.34 (245) (0.92) Total $ 3,155 10.91 % $ 3,391 11.98 % $ 8,180 30.71 %

Parent Company financial statem

Parent Company financial statements	12 Months Ended
	Dec. 31, 2019
Parent Company financial statements
Parent Company financial statements	18. Parent Company financial statements: CONDENSED BALANCE SHEETS December 31 2019 2018 Assets: Cash and cash equivalents $ 5,192 $ 3,736 Equity securities 423 291 Investment in bank subsidiary 293,415 272,617 Due from subsidiaries 1,974 Other assets 19 35 Total assets $ 299,049 $ 278,653 Liabilities and Stockholders’ Equity: Other liabilities $ 39 $ 39 Stockholders’ equity 299,010 278,614 Total liabilities and stockholders’ equity $ 299,049 $ 278,653 CONDENSED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME Year Ended December 31 2019 2018 2017 Income: Dividends from subsidiaries $ 10,131 $ 9,691 $ 9,319 Other income 8 72 52 Unrealized holding gains on equity securities 132 13 Total income 10,271 9,776 9,371 Expense: Other expenses 145 214 205 Total expenses 145 214 205 Income before taxes and undistributed income 10,126 9,562 9,166 Income tax benefit (1) (27) (54) Income before undistributed income of subsidiaries 10,127 9,589 9,220 Equity in undistributed net income of subsidiaries 15,609 15,331 9,237 Net income $ 25,736 $ 24,920 $ 18,457 Comprehensive Income $ 30,607 $ 23,523 $ 17,500 condensed Statements of Cash Flows Year Ended December 31 2019 2018 2017 Cash flows from operating activities: Net income $ 25,736 $ 24,920 $ 18,457 Adjustments: Net gains on investment securities (132) (14) Undistributed net income of subsidiaries (15,609) (15,331) (9,237) Decrease in other assets (310) (111) (3) Decrease in other liabilities (10) (53) Stock based compensation 554 272 177 Increase in due from subsidiaries 1,974 Net cash provided by operating activities 12,213 9,726 9,341 Cash flows from investing activities: Purchase of equity securities (234) (43) Cash flows used in financing activities: Stock awards 8 5 5 Purchase of treasury stock (634) Cash dividends paid (10,131) (9,693) (9,319) Net cash used in financing activities (10,757) (9,688) (9,314) Increase (decrease) in cash 1,456 (196) (16) Cash at beginning of year 3,736 3,932 3,948 Cash at end of year $ 5,192 $ 3,736 $ 3,932

Regulatory matters

Regulatory matters	12 Months Ended
	Dec. 31, 2019
Regulatory matters
Regulatory matters	19. Regulatory matters: Dividends are paid by the Parent Company from its assets, which are mainly provided by dividends from Peoples Bank. Under the Pennsylvania Business Corporation Law of 1988, as amended, the Company may not pay a dividend if, after payment, either the Company could not pay its debts as they become due in the usual course of business, or the Company’s total assets would be less than its total liabilities. The determination of total assets and liabilities may be based upon: (i) financial statements prepared on the basis of GAAP; (ii) financial statements that are prepared on the basis of other accounting practices and principles that are reasonable under the circumstances; or (iii) a fair valuation or other method that is reasonable under the circumstances. In addition, the Federal Reserve Board has the power to prohibit dividends by bank holding companies if their actions constitute unsafe or unsound practices. The Federal Reserve Board has issued a policy statement on the payment of cash dividends by bank holding companies, which expresses the Federal Reserve Board’s view that a bank holding company should pay cash dividends only to the extent that the company’s net income for the past year is sufficient to cover both the cash dividends and a rate of earnings retention that is consistent with the company’s capital needs, asset quality and overall financial condition. The Federal Reserve Board also indicated that it would be inappropriate for a bank holding company experiencing serious financial problems to borrow funds to pay dividends. Under the prompt corrective action regulations, the Federal Reserve Board may prohibit a bank holding company from paying any dividends if the holding company’s bank subsidiary is classified as “undercapitalized.” In addition, under the Pennsylvania Banking Code of 1965, as amended, Peoples Bank may only declare and pay dividends out of accumulated net earnings, or accumulated net earnings acquired as a result of a merger within seven years. Further, Peoples Bank may not declare or pay any dividend unless Peoples Bank’s surplus would not be reduced by the payment of the dividend below 100 percent of our capital stock. Pennsylvania law requires that each year Peoples Bank set aside as surplus, a sum equal to not less than 10 percent of its net earnings if surplus does not equal at least 100 percent of our capital stock. Under federal law and FDIC regulations, an insured bank may not pay dividends if doing so would make it undercapitalized within the meaning of the prompt corrective action law or if in default of its deposit insurance fund assessment. Although subject to the aforementioned regulatory restrictions, the Company’s consolidated retained earnings at December 31, 2019 and 2018 were not restricted under any borrowing agreement as to payment of dividends or reacquisition of common stock. The Company has paid cash dividends since its formation as a bank holding company in 1986. It is the present intention of the Board of Directors to continue this dividend payment policy, however, further dividends must necessarily depend upon earnings, financial condition, appropriate legal restrictions and other factors relevant at the time the Board of Directors considers payment of dividends. The amount of funds available for transfer from Peoples Bank to the Company in the form of loans and other extensions of credit is also limited. Under Federal regulation, transfers to any one affiliate are limited to 10.0 percent of capital and surplus. At December 31, 2019, the maximum amount available for transfer from Peoples Bank to the Company in the form of loans amounted to $25,530. At December 31, 2019 and 2018, there were no loans outstanding, nor were any advances made during 2019 and 2018. The Company and Peoples Bank are subject to certain regulatory capital requirements administered by the federal banking agencies, which are defined in Section 38 of the Federal Deposit Insurance Corporation Improvement Act of 1991 (“FDICIA”). Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material effect on the Company’s and Peoples Bank’s consolidated financial statements. In the event an institution is deemed to be undercapitalized by such standards, FDICIA prescribes an increasing amount of regulatory intervention, including the required institution of a capital restoration plan and restrictions on the growth of assets, branches or lines of business. Further restrictions are applied to the significantly or critically undercapitalized institutions including restrictions on interest payable on accounts, dismissal of management and appointment of a receiver. For well capitalized institutions, FDICIA provides authority for regulatory intervention when the institution is deemed to be engaging in unsafe and unsound practices or receives a less than satisfactory examination report rating. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Peoples Bank must meet specific capital guidelines that involve quantitative measures of their assets, liabilities and certain off-balance sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Prompt corrective action provisions are not applicable to bank holding companies. Risk-based capital rules require that banks and holding companies maintain a "capital conservation buffer" of 250 basis points in excess of the "minimum capital ratio." The minimum capital ratio is equal to the prompt corrective action adequately capitalized threshold ratio. The capital conservation buffer was phased in over four years beginning on January 1, 2016, with a maximum buffer of 0.625% of risk weighted assets for 2016, 1.25% for 2017, 1.875% for 2018, and 2.5% for 2019 and thereafter. Failure to maintain the required capital conservation buffer will result in limitations on capital distributions and on discretionary bonuses to executive officers. Peoples Bank met the capital requirement for the “well capitalized” category under the regulatory framework for prompt corrective action at December 31, 2019. To be categorized as well capitalized, Peoples Bank must maintain certain minimum Tier I risk-based, total risk-based and Tier I Leverage ratios as set forth in the following tables. The Tier I Leverage ratio is defined as Tier I capital to total average assets less intangible assets. Regulators may assign Peoples Bank to a lower capitalization category based on factors other than capital. The Company and Peoples Bank’s actual capital ratios at December 31, 2019 and 2018, and the minimum ratios required for capital adequacy purposes and to be well capitalized under the prompt corrective action provisions are as follows: Minimum to be Well Capitalized under Minimum For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk-weighted assets: Consolidated $ 237,280 11.90 % $ 89,717 4.50 % Peoples Bank 231,685 11.64 89,576 4.50 $ 129,387 6.50 % Tier 1 capital to risk-weighted assets: Consolidated 237,280 11.90 119,623 6.00 Peoples Bank 231,685 11.64 119,434 6.00 159,246 8.00 Total capital to risk-weighted assets: Consolidated 259,957 13.04 159,497 8.00 Peoples Bank 254,362 12.78 159,246 8.00 199,057 10.00 Tier 1 capital to average assets: Consolidated 237,280 10.14 93,633 4.00 Peoples Bank 231,685 9.91 % 93,508 4.00 % 116,884 5.00 % Minimum to be Well Capitalized under Minimum For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk-weighted assets: Consolidated $ 221,024 11.95 % $ 83,241 4.50 % Peoples Bank 215,027 11.64 83,144 4.50 $ 120,097 6.50 % Tier 1 capital to risk-weighted assets: Consolidated 221,024 11.95 110,988 6.00 Peoples Bank 215,027 11.64 110,859 6.00 147,811 8.00 Total capital to risk-weighted assets: Consolidated 242,403 13.10 147,984 8.00 Peoples Bank 236,406 12.80 147,811 8.00 184,764 10.00 Tier 1 capital to average assets: Consolidated 221,024 10.03 88,119 4.00 Peoples Bank 215,027 9.78 % 87,969 4.00 % 109,962 5.00 %

Contingencies

Contingencies	12 Months Ended
	Dec. 31, 2019
Contingencies
Contingencies	20. Contingencies: Neither the Company nor any of its property is subject to any material legal proceedings. Management, after consultation with legal counsel, does not anticipate that the ultimate liability, if any, arising out of pending and threatened lawsuits will have a material effect on the operating results or financial position of the Company.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss	21. Accumulated Other Comprehensive Loss: The components of accumulated other comprehensive loss included in stockholders’ equity at December 31, 2019 and 2018 are as follows: December 31, 2019 December 31, 2018 Net unrealized gain (loss) on investment securities available-for-sale $ 1,835 $ (3,251) Income tax 385 (683) Net of income taxes 1,450 (2,568) Benefit plan adjustments (6,579) (7,218) Income tax (1,382) (1,516) Net of income taxes (5,197) (5,702) Derivative adjustments 687 246 Income tax 144 52 Net of income taxes 543 194 Accumulated other comprehensive loss $ (3,205) $ (8,076) Other comprehensive loss and related tax effects for the years ended December 31, 2019, 2018 and 2017 are as follows: Year Ended December 31, 2019 2018 2017 Unrealized loss on investment securities available-for-sale $ 5,109 $ (2,014) $ (1,790) Net gain on the sale of investment securities available-for-sale (23) Benefit plans: Amortization of actuarial loss (2) 227 194 195 Actuarial gain (loss) 412 (785) 123 Net change in benefit plan liabilities 639 (591) 318 Net change in derivatives 441 246 Other comprehensive loss before taxes 6,166 (2,359) (1,472) Income tax 1,295 (496) (515) Other comprehensive loss $ 4,871 $ (1,863) $ (957) (1) Represents amounts reclassified out of accumulated comprehensive loss and included in gains on sale of investment securities on the consolidated statements of income and comprehensive income. (2) Represents amounts reclassified out of accumulated comprehensive loss and included in the computation of net periodic pension expense. Refer to Note 16 included in these consolidated financial statements.

Summary of quarterly financial

Summary of quarterly financial information (unaudited)	12 Months Ended
	Dec. 31, 2019
Summary of quarterly financial information (unaudited)
Summary of quarterly financial information (unaudited)	22. Summary of quarterly financial information (unaudited): 2019 Quarter Ended March 31 June 30 Sept. 30 Dec. 31 Interest income $ 22,801 $ 23,332 $ 23,632 $ 23,616 Interest expense 4,504 4,604 4,396 4,364 Net interest income 18,297 18,728 19,236 19,252 Provision for loan losses 1,050 350 700 4,000 Net interest income after provision for loan losses 17,247 18,378 18,536 15,252 Noninterest income 3,416 4,152 3,682 3,870 Noninterest expense 13,490 14,429 14,079 13,644 Income before income taxes 7,173 8,101 8,139 5,478 Income tax expense 761 957 991 446 Net income $ 6,412 $ 7,144 $ 7,148 $ 5,032 Per share data: Net income $ 0.87 $ 0.96 $ 0.97 $ 0.68 Cash dividends declared $ 0.34 $ 0.34 $ 0.34 $ 0.35 Average common shares outstanding 7,399,054 7,399,302 7,394,992 7,388,488 2018 Quarter Ended March 31 June 30 Sept. 30 Dec. 31 Interest income $ 19,994 $ 20,766 $ 21,419 $ 22,482 Interest expense 2,807 3,115 3,466 3,934 Net interest income 17,187 17,651 17,953 18,548 Provision for loan losses 1,050 1,050 1,050 1,050 Net interest income after provision for loan losses 16,137 16,601 16,903 17,498 Noninterest income 3,572 3,663 3,253 3,171 Noninterest expense 13,081 13,496 12,537 13,373 Income before income taxes 6,628 6,768 7,619 7,296 Income tax expense 774 811 902 904 Net income $ 5,854 $ 5,957 $ 6,717 $ 6,392 Per share data: Net income $ 0.79 $ 0.81 $ 0.91 $ 0.86 Cash dividends declared $ 0.32 $ 0.33 $ 0.33 $ 0.33 Average common shares outstanding 7,396,505 7,396,533 7,399,054 7,399,054

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	12 Months Ended
	Dec. 31, 2019
Summary of significant accounting policies
Nature of operations	Nature of operations: Peoples Financial Services Corp., a bank holding company incorporated under the laws of Pennsylvania, provides a full range of financial services through its wholly-owned subsidiary, Peoples Security Bank and Trust Company (“Peoples Bank”), collectively, the “Company” or “Peoples”. The Company services its retail and commercial customers through twenty-eight full-service community banking offices located within Bucks, Lackawanna, Lebanon, Lehigh, Luzerne, Monroe, Montgomery, Northampton, Susquehanna, Wayne and Wyoming Counties of Pennsylvania and Broome County of New York and one limited purpose banking office located in Schuylkill County, Pennsylvania. Peoples Bank is a state-chartered bank and trust company under the jurisdiction of the Pennsylvania Department of Banking and Securities and the Federal Deposit Insurance Corporation. Peoples Bank’s primary product is loans to small and medium-sized businesses. Other lending products include one-to-four family residential mortgages and consumer loans. Peoples Bank primarily funds its loans by offering deposits to commercial enterprises and individuals. Deposit product offerings include checking accounts, savings accounts, money market accounts and certificates of deposits. The Company faces competition primarily from commercial banks, thrift institutions and credit unions within its market, many of which are substantially larger in terms of assets and capital. In addition, mutual funds and security brokers compete for various types of deposits, and consumer, mortgage, leasing and insurance companies compete for various types of loans and leases. Principal methods of competing for banking and permitted nonbanking services include price, nature of product, quality of service and convenience of location. The Company and Peoples Bank are subject to regulations of certain federal and state regulatory agencies and undergo periodic examinations.
Basis of presentation	Basis of presentation: The consolidated financial statements of the Company have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”), Regulation S-X and reporting practices applied in the banking industry. All significant intercompany balances and transactions have been eliminated in consolidation. The Company also presents herein condensed parent company only financial information regarding Peoples Financial Services Corp. (“Parent Company”). Prior period amounts are reclassified when necessary to conform with the current year’s presentation. Such reclassifications had no effect on financial position or results of operations. The Company has evaluated events and transactions occurring subsequent to the balance sheet date of December 31, 2019, for items that should potentially be recognized or disclosed in these consolidated financial statements. The evaluation was conducted through the date these consolidated financial statements were issued.
Estimates	Estimates: The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Significant estimates that are particularly susceptible to material change in the near term relate to the determination of the allowance for loan losses, fair value of financial instruments, the valuation of real estate acquired in connection with foreclosures or in satisfaction of loans, the valuation of deferred tax assets, determination of other-than-temporary impairment losses on securities and impairment of goodwill. Actual results could differ from those estimates.
Investment securities	Investment securities: Investment securities are classified and accounted for as either held-to-maturity or available-for-sale securities based on management’s intent at the time of acquisition. Management is required to reassess the appropriateness of such classifications at each reporting date. The Company classifies debt securities as held-to maturity when management has the positive intent and ability to hold such securities to maturity. Held-to-maturity securities are stated at cost, adjusted for amortization of premium and accretion of discount. Investment securities are designated as available-for-sale when they are to be held for indefinite periods of time as management intends to use such securities to implement asset/liability strategies or to sell them in response to changes in interest rates, prepayment risk, liquidity requirements, or other circumstances identified by management. Available-for-sale securities are reported at fair value, with unrealized gains and losses, net of income taxes, excluded from earnings and reported in a separate component of stockholders’ equity. All marketable equity securities are accounted for at fair value with unrealized gains and losses reported in earnings. Estimated fair values for investment securities are based on quoted market prices from a national pricing service. Realized gains and losses are computed using the specific identification method and are included in noninterest income. Premiums on callable debt securities are amortized to the earliest call date from the maturity date. Premiums on non-callable securities are amortized and discounts are accreted using the interest method over the expected life of the security. Investment securities that are bought and held principally for the purpose of selling them in the near term, in order to generate profits from market appreciation, are classified as trading account securities. Transfers of securities between categories are recorded at fair value at the date of the transfer, with the accounting treatment of unrealized gains or losses determined by the category into which the security is transferred. Management evaluates each investment security to determine if a decline in fair value below its amortized cost is an other-than-temporary impairment (“OTTI”) at least quarterly, and more frequently when economic or market concerns warrant an evaluation. Factors considered in determining whether an other-than-temporary impairment was incurred include: (i) the length of time and the extent to which the fair value has been less than amortized cost; (ii) the financial condition and near-term prospects of the issuer; (iii) whether a decline in fair value is attributable to adverse conditions specifically related to the security or specific conditions in an industry or geographic area; (iv) the credit-worthiness of the issuer of the security; (v) whether dividend or interest payments have been reduced or have not been made; (vi) an adverse change in the remaining expected cash flows from the security such that the Company will not recover the amortized cost of the security; (vii) whether management intends to sell the security; and (viii) if it is more likely than not that management will be required to sell the security before recovery. If a decline is judged to be other-than-temporary, the individual security is written-down to fair value with the credit related component of the write-down included in earnings and the non-credit related component included in other comprehensive income or loss. The assessment of whether an other-than-temporary impairment exists involves a high degree of subjectivity and judgment and is based on information available to management at a point in time.
Loans held for sale	Loans held for sale: Loans held for sale consist of one-to-four family residential mortgages originated and intended for sale in the secondary market. The loans are carried in aggregate at the lower of cost or estimated market value, based upon current delivery prices in the secondary mortgage market. Net unrealized losses are recognized through a valuation allowance by corresponding charges to income. Gains or losses on the sale of these loans are recognized in noninterest income at the time of sale using the specific identification method. Loan origination fees, net of certain direct loan origination costs, are included in net gains or losses upon the sale of the related mortgage loan. All loans are sold with recourse.
Loans, net	Loans, net: Loans that management has the intent and ability to hold for the foreseeable future or until maturity or payoff are stated at their outstanding unpaid principal balances, net of deferred fees or costs. Interest income is accrued on the principal amount outstanding. Loan origination fees, net of certain direct origination costs, are deferred and recognized over the contractual life of the related loan as an adjustment to yield using the effective interest method. Premiums and discounts on purchased loans are amortized as adjustments to interest income using the effective interest method. Delinquency fees are recognized in income at the time when they are paid by customer. Transfers of financial assets, which include loan participation sales, are accounted for as sales, when control over the assets has been surrendered. Control over transferred assets is deemed to be surrendered when: (i) the assets have been isolated from the Company; (ii) the transferee obtains the right, free of conditions that constrain it from taking advantage of that right, to pledge or exchange the transferred assets and (iii) the Company does not maintain effective control over the transferred assets through an agreement to repurchase them before their maturity. The loan portfolio is segmented into commercial and retail loans. Commercial loans consist of commercial, commercial real estate, municipal and other related tax free loans. Retail loans consist of residential real estate and other consumer loans. The Company makes commercial loans for real estate development and other business purposes required by the customer base. The Company’s credit policies establish advance rates against the different forms of collateral that can be pledged against various commercial loans. Typically, the majority of loans will be underwritten to a percentage of their underlying collateral values such as real estate values, equipment, eligible accounts receivable and inventory. Individual loan advance rates may be higher or lower depending upon the financial strength of the borrower and/or term of the loan. Generally, assets financed through commercial loans are used for the operations of the business. Repayment for these types of loans generally comes from the cash flow of the business or the ongoing conversion of assets. Commercial real estate loans include construction, mini-perm, or longer term loans financing commercial properties. Repayment of these loans are generally dependent upon either the ongoing business cash flow from an owner occupied property or the lease/rental income or sale of a non-owner occupied property. Commercial real estate loans typically require a loan to value of not greater than 80% and vary in terms. Commercial and commercial real estate loans generally have higher credit risk compared to residential mortgage loans and consumer loans, as they typically involve larger loan balances concentrated with single borrowers or groups of borrowers. In addition, the payment expectations on loans secured by income-producing properties typically depend on the successful operations of the related business and thus may be subject to a greater extent to adverse conditions in the real estate market and in the general economy. Loans secured by commercial real estate generally have larger balances and involve a greater degree of risk than one-to-four family residential mortgage loans. Of primary concern in commercial real estate lending is the borrower’s and any guarantor’s creditworthiness and the feasibility and cash flow potential of the financed project. Additional considerations include: location, market and geographic concentration risks, loan to value, strength of guarantors and quality of tenants. Payments on loans secured by income properties often depend on successful operation and management of the properties. As a result, repayment of such loans may be subject to a higher level of risk than residential real estate loans, which could be caused by unfavorable conditions in the real estate market or the economy. To effectively monitor loans on income properties, the Company requires borrowers and loan guarantors, if any, to provide annual financial statements on commercial real estate loans and rent rolls where applicable. In reaching a decision on whether to make a commercial real estate loan, the Company considers and reviews a cash flow analysis of the borrower and guarantor, when applicable. In addition, the Company evaluates business cash flows, if applicable, net operating income of the property, the borrower’s expertise, credit history and the value of the underlying property. The Company has generally required that the properties securing these real estate loans have debt service coverage ratios, which is net cash flow before debt service to debt service, of at least 1.2 times. An environmental report is obtained when the possibility exists that hazardous materials may have existed on the site, or the site may have been impacted by adjoining properties that handled hazardous materials. Commercial loans are generally made on the basis of a business entity or individual borrower’s ability to make repayment from business cash flows or individual borrowers’ employment and other income. Commercial business loans tend to have a slightly higher risk than commercial real estate loans because collateral usually consists of business assets versus real estate. Further, any collateral securing such loans may depreciate over time and could be difficult to appraise and liquidate. As a result, repayment of commercial business loans may depend substantially on the success of the business itself. Residential mortgages, including home equity loans, are secured by the borrower’s residential real estate in either a first or second lien position. Residential mortgages have varying loan rates depending on the financial condition of the borrower, loan to value ratio and term. Residential mortgages may have amortizations up to 30 years. Consumer loans include installment loans, car loans, and overdraft lines of credit. These loans are both secured and unsecured. Consumer loans may entail greater risk than do residential mortgage loans, particularly in the case of consumer loans that are unsecured. Repossessed collateral for a defaulted consumer loan may not provide an adequate source of repayment for the outstanding loan and a small remaining deficiency often does not warrant further substantial collection efforts against the borrower. Consumer loan collections depend on the borrower’s continuing financial stability, and therefore are likely to be adversely affected by various factors, including job loss, divorce, illness or personal bankruptcy. Furthermore, the application of various federal and state laws, including federal and state insolvency laws, may limit the amount that can be recovered on such loans.
Off-balance sheet financial instruments	Off-balance sheet financial instruments: In the ordinary course of business, the Company has entered into off-balance sheet financial instruments consisting of commitments to extend credit, unused portions of lines of credit and standby letters of credit. These financial instruments are recorded in the consolidated financial statements when they are funded. Fees on commercial letters of credit and on unused available lines of credit are recorded as interest and fees on loans and are included in interest income when paid. The Company records an allowance for off-balance sheet credit losses, if deemed necessary, separately as a liability.
Nonperforming assets	Nonperforming assets: Nonperforming assets consist of nonperforming loans and other real estate owned. Nonperforming loans include nonaccrual loans, troubled debt restructured loans and accruing loans past due 90 days or more. Past due status is based on contractual terms of the loan. Generally, a loan is classified as nonaccrual when it is determined that the collection of all or a portion of interest or principal is doubtful or when a default of interest or principal has existed for 90 days or more, unless the loan is well secured and in the process of collection. When a loan is placed on nonaccrual, interest accruals discontinue and uncollected accrued interest is reversed against income in the current period. Interest collections after a loan has been placed on nonaccrual status are credited to a suspense account until either the loan is returned to performing status or charged-off. The interest accumulated in the suspense account is credited to income over the remaining life of the loan using the effective yield method if the nonaccrual loan is returned to performing status. However, if the nonaccrual loan is charged-off, the accumulated interest is applied as a reduction to principal at the time the loan is charged-off. A nonaccrual loan is returned to performing status when the loan is current as to principal and interest and has performed according to the contractual terms for a minimum of six months. Troubled debt restructured loans are loans with original terms, interest rate, or both, that have been modified as a result of a deterioration in the borrower’s financial condition and a concession has been granted that the Company would not otherwise consider. Unless on nonaccrual, interest income on these loans is recognized when earned, using the interest method. The Company offers a variety of modifications to borrowers that would be considered concessions. The modification categories offered can generally fall within the following categories: · Rate Modification — A modification in which the interest rate is changed to a below market rate. · Term Modification — A modification in which the maturity date, timing of payments or frequency of payments is changed. · Interest Only Modification — A modification in which the loan is converted to interest only payments for a period of time. · Payment Modification — A modification in which the dollar amount of the payment is changed, other than an interest only modification described above. · Combination Modification — Any other type of modification, including the use of multiple categories above. The Company segments loans into risk categories based on relevant information about the ability of borrowers to service their debt such as current financial information, historical payment experience, credit documentation, public information, and current economic trends, among other factors. Loans are individually analyzed for credit risk by classifying them within the Company’s internal risk rating system. The Company’s risk rating classifications are defined as follows: · Pass — A loan to borrowers with acceptable credit quality and risk that is not adversely classified as Substandard, Doubtful, Loss nor designated as Special Mention. · Special Mention — A loan that has potential weaknesses that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or in the institution’s credit position at some future date. Special Mention loans are not adversely classified since they do not expose the Company to sufficient risk to warrant adverse classification. · Substandard — A loan that is inadequately protected by the current sound worth and paying capacity of the obligor or of the collateral pledged, if any. Loans so classified must have a well-defined weakness or weaknesses that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the bank will sustain some loss if the deficiencies are not corrected. · Doubtful — A loan classified as Doubtful has all the weaknesses inherent in one classified Substandard with the added characteristic that the weaknesses make the collection or liquidation in full, on the basis of currently existing facts, conditions, and values, highly questionable and improbable. · Loss — A loan classified as Loss is considered uncollectible and of such little value that its continuance as bankable loans is not warranted. This classification does not mean that the loan has absolutely no recovery or salvage value, but rather it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future. Other real estate owned is comprised of properties acquired through foreclosure proceedings or in-substance foreclosures. A loan is classified as in-substance foreclosure when the Company has taken possession of the collateral regardless of whether formal foreclosure proceedings take place. Other real estate owned is included in other assets and recorded at fair value less cost to sell at the time of acquisition, establishing a new cost basis. Any excess of the loan balance over the recorded value is charged to the allowance for loan losses. Subsequent declines in the recorded values of the properties prior to their disposal and costs to maintain the assets are included in other expenses. Any gain or loss realized upon disposal of other real estate owned is included in noninterest expense.
Allowance for loan losses	Allowance for loan losses: The allowance for loan losses represents management’s estimate of losses inherent in the loan portfolio as of the balance sheet date. The allowance for loan losses account is maintained through a provision for loan losses charged to earnings. Loans, or portions of loans, determined to be confirmed losses are charged against the allowance account and subsequent recoveries, if any, are credited to the account. A loss is considered confirmed when information available at the financial statement date indicates the loan, or a portion thereof, is uncollectible. Nonaccrual, troubled debt restructured and loans deemed impaired at the time of acquisition are reviewed monthly to determine if carrying value reductions are warranted or if these classifications should be changed. Consumer loans are considered losses and charged-off when they are 120 days past due. Management evaluates the adequacy of the allowance for loan losses account quarterly. This assessment is based on past charge-off experience, known and inherent risks in the portfolio, adverse situations that may affect the borrower’s ability to repay, the estimated value of underlying collateral, composition of the loan portfolio, current economic conditions and other relevant factors. This evaluation is inherently subjective as it requires material estimates that may be susceptible to significant revision as more information becomes available. Regulators, in reviewing the loan portfolio as part of the scope of a regulatory examination, may require the Company to increase its allowance for loan losses or take other actions that would require the Company to increase its allowance for loan losses. The allowance for loan losses is maintained at a level believed to be adequate to absorb probable credit losses related to specifically identified loans, as well as probable incurred losses inherent in the remainder of the loan portfolio as of the balance sheet date. The allowance for loan losses consists of an allocated element and an unallocated element. The allocated element consists of a specific allowance for impaired loans individually evaluated and a formula portion for loss contingencies on those loans collectively evaluated. A loan is considered impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. All amounts due according to the contractual terms means that both the contractual interest and principal payments of a loan will be collected as scheduled in the loan agreement. Factors considered by management in determining impairment include payment status, ability to pay and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. Management determines the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The Company recognizes interest income on impaired loans, including the recording of cash receipts, for nonaccrual, restructured loans or accruing loans depending on the status of the impaired loan. Loans considered impaired are measured for impairment based on the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. If the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral, if the loan is collateral dependent, is less than the recorded investment in the loan, a specific allowance for the loan will be established. The formula portion of the allowance for loan losses relates to large pools of smaller-balance homogeneous loans and those identified loans considered not individually impaired having similar characteristics as these loan pools. Loss contingencies for each of the major loan pools are determined by applying a total loss factor to the current balance outstanding for each individual pool. The total loss factor is comprised of a historical loss factor using a loss migration method plus qualitative factors, which adjusts the historical loss factor for changes in trends, conditions and other relevant factors that may affect repayment of the loans in these pools as of the evaluation date. Loss migration involves determining the percentage of each pool that is expected to ultimately result in loss based on historical loss experience. The historical loss factor for each pool is a weighted average of the Company’s historical net charge-off ratio for the most recent rolling twelve quarters. Management adjusts these historical loss factors by qualitative factors that represents a number of environmental risks that may cause estimated credit losses associated with the current portfolio to differ from historical loss experience. These environmental risks include: (i) changes in lending policies and procedures including underwriting standards and collection, charge-off and recovery practices; (ii) changes in the composition and volume of the portfolio; (iii) changes in national, local and industry conditions, including the effects of such changes on the value of underlying collateral for collateral-dependent loans; (iv) changes in the volume and severity of classified loans, including past due, nonaccrual, troubled debt restructures and other loan modifications; (v) changes in the levels of, and trends in, charge-offs and recoveries; (vi) the existence and effect of any concentrations of credit and changes in the level of such concentrations; (vii) changes in the experience, ability and depth of lending management and other relevant staff; (viii) changes in the quality of the loan review system and the degree of oversight by the board of directors; and (ix) the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the current loan portfolio. Each environmental risk factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for loan loss calculation. The unallocated element is used to cover inherent losses that exist as of the evaluation date, but which have not been identified as part of the allocated allowance using the above impairment evaluation methodology due to limitations in the process. One such limitation is the imprecision of accurately estimating the impact current economic conditions will have on historical loss rates. Variations in the magnitude of impact may cause estimated credit losses associated with the current portfolio to differ from historical loss experience, resulting in an allowance that is higher or lower than the anticipated level. Management establishes the unallocated element of the allowance by considering a number of environmental risks similar to the ones used for determining the qualitative factors. Management continually monitors trends in historical and qualitative factors, including trends in the volume, composition and credit quality of the portfolio. The reasonableness of the unallocated element is evaluated through monitoring trends in its level to determine if changes from period to period are directionally consistent with changes in the loan portfolio. Management believes the level of the allowance for loan losses was adequate to absorb probable credit losses inherent in the loan portfolio as of December 31, 2019.
Revenue from Contracts with Customers	Revenue from Contracts with Customers: The Company records revenue from contracts with customers in accordance with Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“Topic 606”). Under Topic 606, the Company must identify the contract with a customer, identify the performance obligations in the contract, determine the transaction price, allocate the transaction price to the performance obligations in the contract, and recognize revenue when (or as) the Company satisfies a performance obligation. Significant revenue has not been recognized in the current reporting period that results from performance obligations satisfied in previous periods. The Company’s primary sources of revenue are derived from interest and dividends earned on loans, investment securities, and other financial instruments that are not within the scope of Topic 606. The Company has evaluated the nature of its contracts with customers and determined that further disaggregation of revenue from contracts with customers into more granular categories beyond what is presented in the consolidated statements of income was not necessary. The Company generally fully satisfies its performance obligations on its contracts with customers as services are rendered and the transaction prices are typically fixed; charged either on a periodic basis or based on activity. The following is a discussion of revenues within the scope of the guidance: · Service charges, fees and commissions . Service charges, fees and commissions on deposit accounts include fees for banking services provided, overdrafts and non-sufficient funds. Revenue is generally recognized in accordance with published deposit account agreements for retail accounts or contractual agreements for commercial accounts. The Company’s deposit services also include our ATM and debit card interchange revenue that is presented gross of the associated costs. Interchange revenue is generated by the Company’s deposit customers’ usage and volume of activity. Interchange rates are not controlled by the Company, which effectively acts as processor that collects and remits payments associated with customer debit card transactions. · Commission and fees on fiduciary activities. Commission and fees on fiduciary activities includes fees and commissions from investment management, administrative and advisory services primarily for individuals, and to a lesser extent, partnerships and corporations. Revenue is recognized on an accrual basis at the time the services are performed and when the Company has a right to invoice and are based on either the market value of the assets managed or the services provided. · Wealth management income. Wealth management income includes fees and commissions charged when the Company arranges for another party to transfer brokerage services to a customer. The fees and commissions under this agent relationship are based upon stated fee schedules based upon the type of transaction, volume, and value of the services provided. · Other noninterest income . Other noninterest income includes, among other things, merchant services income. Merchant services revenue is derived from a third party vendor that processes credit card transactions on behalf of the Company’s merchant customers. Merchant services revenue is primarily comprised of residual fee income based on the referred merchant’s processing volumes and/or margin.
Premises and equipment, net	Premises and equipment, net: Land is stated at cost. Premises, equipment and leasehold improvements are stated at cost less accumulated depreciation and amortization. The cost of routine maintenance and repairs is expensed as incurred. The cost of major replacements, renewals and betterments is capitalized. When assets are retired or otherwise disposed of, the cost and related accumulated depreciation and amortization are eliminated and any resulting gain or loss is reflected in noninterest income. Depreciation and amortization are computed principally using the straight-line method based on the following estimated useful lives of the related assets, or in the case of leasehold improvements, to the expected terms of the leases, if shorter: Premises and leasehold improvements 7 – 40 years Furniture, fixtures and equipment 3 – 10 years
Goodwill and other intangible assets, net	Goodwill and other intangible assets, net: The Company accounts for its acquisitions using the purchase accounting method. Purchase accounting requires the total purchase price to be allocated to the estimated fair values of assets acquired and liabilities assumed, including certain intangible assets that must be recognized. Typically, this allocation results in the purchase price exceeding the fair value of net assets acquired, which is recorded as goodwill. Core deposit intangibles are a measure of the value of checking, money market and savings deposits acquired in business combinations accounted for under the purchase method. Core deposit intangibles and other identified intangibles with finite useful lives are amortized using the sum of the year’s digits over their estimated useful lives of up to ten years. Goodwill and other intangible assets are tested for impairment annually or when circumstances arise indicating impairment may have occurred. In making this assessment that impairment has occurred, management considers a number of factors including, but not limited to, operating results, business plans, economic projections, anticipated future cash flows, and current market data. There are inherent uncertainties related to these factors and management’s judgment in applying them to the analysis of impairment. Changes in economic and operating conditions, as well as other factors, could result in impairment in future periods. Any impairment losses arising from such testing would be reported in the consolidated statements of income and comprehensive income as a separate line item within operations. There were no impairment losses recognized as a result of periodic impairment testing in each of the three-years ended December 31, 2019.
Mortgage servicing rights	Mortgage servicing rights: Mortgage servicing rights are recognized as a separate asset when acquired through sales of loan originations. The Company determines a mortgage servicing right by allocating the total costs incurred between the loan sold and the servicing right, based on their relative fair values at the date of the sale. Mortgage servicing rights are included in other assets and are amortized into noninterest income in proportion to, and over the period of, the estimated future net servicing income of the underlying mortgage loans. In addition, mortgage servicing rights are evaluated for impairment at each reporting date based on the fair value of those rights. For purposes of measuring impairment, the rights are stratified by loan type, term and interest rate. The amount of impairment recognized, through a valuation allowance, is the amount by which the mortgage servicing rights for a stratum exceed their fair value.
Restricted equity securities	Restricted equity securities: As a member of the Federal Home Loan Bank of Pittsburgh (“FHLB”), the Company is required to purchase and hold stock in the FHLB to satisfy membership and borrowing requirements. This stock is restricted in that it can only be redeemed by the FHLB or transferred to another member institution, and all redemptions of FHLB stock must be at par. As a result of these restrictions, FHLB stock is unlike other investment securities as there is no trading market for FHLB stock and the transfer price is determined by FHLB membership rules and not by market participants. The carrying value of restricted stock is included in other assets.
Bank owned life insurance	Bank owned life insurance: The Company invests in bank owned life insurance (“BOLI”) as a source of funding for employee benefit expenses. BOLI involves the purchasing of life insurance on certain employees. The Company is the owner and beneficiary of the policies. This life insurance investment is carried at the cash surrender value of the underlying policies and is included in other assets. Income from increases in cash surrender value of the policies is included in noninterest income. The policies can be liquidated, if necessary, with associated tax costs. However, the Company intends to hold these policies and, accordingly, the Company has not provided for income taxes on the earnings from the increase in cash surrender value.
Pension and post-retirement benefit plans	Pension and post-retirement benefit plans: The Company sponsors a separate Employee Stock Ownership Plan (“ESOP”) and Retirement Profit Sharing 401(k) Plan and maintains Supplemental Executive Retirement Plans (“SERPs”) and an employee pension plan, which is currently frozen. The Company also provides post-retirement benefit plans other than pensions, consisting principally of life insurance benefits, to eligible retirees. The liabilities and annual income or expense of the Company’s pension and other post-retirement benefit plans are determined using methodologies that involve several actuarial assumptions, the most significant of which are the discount rate and the long-term rate of asset return, based on the market-related value of assets. The fair values of plan assets are determined based on prevailing market prices or estimated fair value for investments with no available quoted prices.
Statements of Cash Flows	Statements of Cash Flows: Cash and cash equivalents include cash on hand, cash items in the process of collection, noninterest-bearing and interest-bearing deposits in other banks and federal funds sold.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities: The Company records all derivatives on the balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as 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, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Derivatives may also be designated as hedges of the foreign currency exposure of a net investment in a foreign operation. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. The Company has elected to measure the credit risk of its derivative financial instruments that are subject to master netting agreements on a net basis by counterparty portfolio.
Fair value of financial instruments	Fair value of financial instruments: The Company uses fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosure under GAAP. Fair value estimates are calculated without attempting to estimate the value of anticipated future business and the value of certain assets and liabilities that are not considered financial. Accordingly, such assets and liabilities are excluded from disclosure requirements. Fair value is the price that would be received to sell an asset or transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets. In many cases, these values cannot be realized in immediate settlement of the instrument. Current fair value guidance provides a consistent definition of fair value, which focuses on exit price in an orderly transaction that is not a forced liquidation or distressed sale between participants at the measurement date under current market conditions. If there has been a significant decrease in the volume and level of activity for the asset or liability, a change in valuation technique or the use of multiple valuation techniques may be appropriate. In such instances, determining the price at which willing market participants would transact at the measurement date under current market conditions depends on the facts and circumstances and requires the use of significant judgment. The fair value is a reasonable point within the range that is most representative of fair value under current market conditions. In accordance with GAAP, the Company groups its assets and liabilities generally measured at fair value into three levels based on market information or other fair value estimates in which the assets and liabilities are traded or valued and the reliability of the assumptions used to determine fair value. These levels include: · Level 1: Unadjusted quoted prices of identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. · Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data. · Level 3: Significant unobservable inputs that reflect a reporting entity’s own assumptions about the assumptions that market participants would use in pricing an asset or liability. The following methods and assumptions were used by the Company to construct the summary table in Note 12 containing the fair values and related carrying amounts of financial instruments measured at fair value:
Investment securities	Investment securities: The fair values of marketable equity securities are based on quoted market prices from active exchange markets. The fair values of debt securities are based on pricing from a matrix pricing model and quoted market prices.
Impaired loans	Impaired loans: Fair values for impaired loans are estimated using discounted cash flow analysis determined by the loan review function or underlying collateral values, where applicable.
Interest rate swaps and floors	Interest rate swaps and floors: Values of these instruments are obtained through an independent pricing source utilizing information which may include market observed quotations for swaps, Libor rates, forward rates and rate volatility. Derivative contracts create exposure to interest rate movements as well as risks from the potential of non-performance of the counterparty.
Advertising	Advertising: The Company follows the policy of charging marketing and advertising costs to expense as incurred. Advertising expense for the years ended December 31, 2019, 2018 and 2017 was $873, $720 and $942, respectively.
Income taxes	Income taxes: Deferred income taxes are provided on the balance sheet method whereby deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the effective date. A tax position is recognized as a benefit only if it is more likely than not that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that has a likelihood of being realized on examination of more than 50 percent. For tax positions not meeting the more likely than not threshold, no tax benefit is recorded. Under the more likely than not threshold guidelines, the Company believes no significant uncertain tax positions exist, either individually or in the aggregate, that would give rise to the non-recognition of an existing tax benefit. The Company had no material unrecognized tax benefits or accrued interest and penalties for any year in the three-year period ended December 31, 2019. On December 22, 2017, the Tax Cuts and Jobs Act was signed into law, which among other things reduced the federal corporate income tax rate to 21% effective January 1, 2018. As a result, and in accordance with GAAP, the Company remeasured its net deferred tax assets using the 21% rate. The revaluation of the Company’s net deferred tax assets at December 31, 2017 resulted in a reduction of these net assets and a corresponding increase in income tax expense of $2.6 million or $0.35 per share, which was recorded in the fourth quarter of 2017. As applicable, the Company recognizes accrued interest and penalties assessed as a result of a taxing authority examination through income tax expense. The Company files consolidated income tax returns in the United States of America and various state jurisdictions. With limited exception, the Company is no longer subject to federal and state income tax examinations by taxing authorities for years before 2015.
Other comprehensive loss	Other comprehensive loss: The components of other comprehensive loss and their related tax effects are reported in the Consolidated Statements of Income and Comprehensive Income. The accumulated other comprehensive loss included in the Consolidated Balance Sheets relates to net unrealized gains and losses on investment securities available-for-sale, the net change in derivative fair value and the unfunded benefit plan amounts which include prior service costs and unrealized net losses.
Earnings per share	Earnings per share: Basic earnings per share represent income available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by the Company relate to outstanding stock options and stock awards, and are determined using the treasury stock method. 2019 2018 2017 For the Year Ended December 31 Basic Diluted Basic Diluted Basic Diluted Net income $ 25,736 $ 25,736 $ 24,920 $ 24,920 $ 18,457 $ 18,457 Average common shares outstanding 7,395,429 7,395,429 7,397,797 7,397,797 7,395,837 7,395,837 Earnings per share $ 3.48 $ 3.48 $ 3.37 $ 3.37 $ 2.50 $ 2.50
Stock-based compensation	2019 2018 2017 For the Year Ended December 31 Basic Diluted Basic Diluted Basic Diluted Net income $ 25,736 $ 25,736 $ 24,920 $ 24,920 $ 18,457 $ 18,457 Average common shares outstanding 7,395,429 7,395,429 7,397,797 7,397,797 7,395,837 7,395,837 Earnings per share $ 3.48 $ 3.48 $ 3.37 $ 3.37 $ 2.50 $ 2.50 Stock-based compensation: The Company recognizes all share-based payments to employees in the consolidated statements of income and comprehensive income based on their fair values. The fair value of such equity instruments is recognized as an expense in the consolidated financial statements as services are performed. The Company has granted stock awards to employees at a price equal to the fair value of the shares at the date of grant. The fair value of restricted stock is equivalent to the fair value on the date of grant and is amortized over the vesting period.
Recent accounting standards	Recent accounting standards: In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-02, “Leases”. From the lessees’s perspective, the new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. The ROU asset and lease liability are calculated based on the present value of future lease payments using an estimated incremental borrowing rate. The Company utilized the incremental borrowing rate of interest on a collateralized basis for the lease term as quoted by the FHLB. Leases are classified as either finance or operating, with classification affecting the pattern of expense recognition in the statement of income for a lessee. From the lessor’s perspective, the new standard requires a lessor to classify leases as either sales-type, finance or operating. A lease is treated as a sale if it transfers all of the risks and rewards, as well as control of the underlying asset, to the lessee. If risks and rewards are conveyed without the transfer of control, the lease is treated as a financing. If the lessor doesn’t convey risks and rewards or control, an operating lease results. The amendments in this ASU were effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2018. The new standard provides a number of optional practical expedients in transition. We have elected the "package of practical expedients," which permit us not to reassess under the new standard our prior conclusions about lease identification, lease classification and initial direct costs. We elected the "use-of-hindsight" practical expedient which allows us to use hindsight in judgments that impact the lease term. In order to establish the value of the ROU and lease liability and in accordance with the guidance, management determined the term of the leases held by carefully evaluating and assessing each lease and applying economic and other relevant factors to determine whether the Company is reasonably certain to exercise or not to exercise a renewal option within each lease. We have also elected an accounting policy not to restate comparative periods upon adoption. The Company elected to adopt this pronouncement using the optional transition method under ASU 2018-11 as of January 1, 2019 and recorded right-of-use assets and lease liabilities for operating leases of $6,523 on its consolidated balance sheets, with no adjustment to stockholders’ equity and no material impact to its consolidated statements of income and comprehensive income. In July 2018, the FASB issued ASU 2018-11, “Leases - Targeted Improvements” to provide entities with relief from the costs of implementing certain aspects of the new leasing standard, ASU No. 2016-02. Specifically, under the amendments in ASU 2018-11: (1) entities may elect not to recast the comparative periods presented when transitioning to the new leasing standard, and (2) lessors may elect not to separate lease and non-lease components when certain conditions are met. The amendments were adopted on January 1, 2019 and did not have a material impact on the Company’s consolidated financial statements. In March 2019, the FASB issued ASU 2019-01, “Leases (Topic 842) Codification Improvements” which was issued to address lessors’ concerns about determining fair value of underlying leased assets and presentation issues in the statement of cash flows for sales-type and direct financing leases. ASU 2019-01 also clarified for both lessees and lessors that transition disclosures related to Topic 250 were not required for annual periods are also not required for interim periods. ASU 2019-01 was effective for annual periods, and interim periods within those annual periods, beginning after December 15, 2019, with early adoption permitted. The Company early adopted this ASU 2019-01 effective January 1, 2019 and it did not have a material impact on the Company’s consolidated financial statements. In June 2016, the FASB issued ASU 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments.” This ASU will have a significant impact on the Company’s calculation and accounting for its allowance for loan losses as well as credit losses related to investment securities available-for-sale. A summary of significant provisions of this ASU is as follows: · The ASU requires that a financial asset (or a group of financial assets) measured at amortized cost basis be presented, net of a valuation allowance for credit losses, at an amount expected to be collected on the financial asset(s), and that the income statement include the measurement of credit losses for newly recognized financial assets as well as changes in expected losses on previously recognized financial assets. The provisions of this ASU require measurement of expected credit losses based on relevant information including past events, historical experience, current conditions, and reasonable and supportive forecasts that affect the collectability of the asset. The provisions of this ASU differ from current GAAP in that current GAAP generally delays recognition of the full amount of credit losses until the loss is probable of occurring. · The amendments in the ASU retain many of the disclosure requirements related to credit quality in current GAAP, updated to reflect the change from an incurred loss methodology to an expected credit loss methodology. In addition, the ASU requires that disclosure of credit quality indicators in relation to the amortized cost of financing receivables, a current requirement, be further disaggregated by year of origination. · This ASU requires that credit losses on available-for-sale debt securities be presented as an allowance rather than as a write-down, and limits the amount of the allowance for credit losses to the amount by which the fair value is below amortized cost. For purchased investment securities available-for-sale with a more-than-insignificant. amount of credit deterioration since origination, the ASU requires an allowance be determined in a manner similar to other investment securities available-for-sale; however, the initial allowance would be added to the purchase price, with only subsequent changes in the allowance recorded in credit loss expense, and interest income recognized at the effective rate excluding the discount embedded in the purchase price related to estimated credit losses at acquisition. · In November 2019, the FASB issued ASU 2019-11 which deferred the adoption date for smaller reporting companies from 2020 to 2023. The Company qualifies as a smaller reporting company and therefore guidance is effective for the Company in 2023. The Company will record the effect of implementing this ASU through a cumulative-effect adjustment through retained earnings as of the beginning of the reporting period in which Topic 326 is effective. We are evaluating the impact of the ASU on our consolidated financial statements. In addition to our allowance for loan losses, we will also record an allowance for credit losses on debt securities instead of applying the impairment model currently utilized. The amount of the adjustments will be impacted by each portfolio’s composition and credit quality at the adoption date as well as economic conditions and forecasts at that time. In August 2018, the FASB issued ASU 2018-13 Fair Value Measurement (Topic 820): “Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement” modifies the disclosure requirements on fair value measurements in Topic 820, Fair Value Measurement, based on the FASB Concepts Statement, “Conceptual Framework for Financial Reporting – Chapter 8: Notes to Financial Statements”. In accordance with the Concepts Statement, this ASU removes, modifies and adds select disclosure requirements under Topic 820 after consideration of costs and benefits. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019 for public entities, with early adoption permitted. The adoption of this guidance on January 1, 2020 did not have a material effect on the Company’s consolidated financial statements. In January 2017, the FASB issued ASU 2017-04, “Simplifying the Test for Goodwill Impairment,” - Intangibles - Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment. The amendments in this ASU simplify how an entity is required to test goodwill for impairment by eliminating the requirement to calculate the implied fair value of goodwill to measure a goodwill impairment charge. This accounting guidance will be effective for interim and annual reporting periods beginning after December 15, 2019 (effective January 1, 2020 for the Company). Adoption of this ASU is not expected to have a material impact on the Company’s consolidated financial statements. In August 2018, the FASB issued ASU 2018-14, “Compensation - Retirement Benefits - Defined Benefit Plans - General (Subtopic 715-20)”, which provides changes to the disclosure requirements for defined benefit plans. The amended guidance modifies the disclosure requirements for employers that sponsor defined benefit pension or other postretirement plans. The amendments are a result of the disclosure framework project that focuses on improvements to the effectiveness of disclosures in the notes to financial statements. The amendments remove and add certain disclosure requirements. The disclosure requirements being removed relating to public companies are (1) the amounts in accumulated other comprehensive income expected to be recognized as components of net periodic benefit cost over the next fiscal year, (2) the amount and timing of plan assets expected to be returned to the employer, (3) the 2001 disclosure requirement relating to Japanese Welfare Pension Insurance Law, (4) related party disclosures about the amount of future annual benefits covered by insurance, and (5) the effects of a one-percentage-point change in assumed health care cost trends on the benefit cost and obligation. The disclosure requirements being added relating to public companies are (1) the weighted-average interest crediting rates for cash balance plans, and (2) an explanation of the reasons for significant gains and losses related to changes in the benefit obligation for the period. ASU 2018-14 is effective for the Company on January 1, 2021 and early adoption is permitted. The amendments should be applied retrospectively however, the Company does not expect the guidance to have a material impact on its disclosures to the consolidated financial statements.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of significant accounting policies
Schedule of estimated useful life of related assets	Premises and leasehold improvements 7 – 40 years Furniture, fixtures and equipment 3 – 10 years
Schedule of earnings per share	2019 2018 2017 For the Year Ended December 31 Basic Diluted Basic Diluted Basic Diluted Net income $ 25,736 $ 25,736 $ 24,920 $ 24,920 $ 18,457 $ 18,457 Average common shares outstanding 7,395,429 7,395,429 7,397,797 7,397,797 7,395,837 7,395,837 Earnings per share $ 3.48 $ 3.48 $ 3.37 $ 3.37 $ 2.50 $ 2.50

Investment securities (Tables)

Investment securities (Tables)	12 Months Ended
	Dec. 31, 2019
Schedule of amortized cost and fair value of investment securities aggregated by investment category	Gross Gross Amortized Unrealized Unrealized Fair December 31, 2019 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 23,966 $ 162 $ 24,128 U.S. government-sponsored enterprises 87,156 181 $ 227 87,110 State and municipals: Taxable 35,418 295 815 34,898 Tax-exempt 59,127 1,056 20 60,163 Residential mortgage-backed securities: U.S. government agencies 8,368 112 10 8,470 U.S. government-sponsored enterprises 101,914 1,011 77 102,848 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 12,694 171 4 12,861 Total $ 328,643 $ 2,988 $ 1,153 $ 330,478 Held-to-maturity: Tax-exempt state and municipals $ 6,852 $ 208 $ 7,060 Residential mortgage-backed securities: U.S. government agencies 31 31 U.S. government-sponsored enterprises 773 25 $ 798 Total $ 7,656 $ 233 $ $ 7,889 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2018 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 25,948 9 $ 365 $ 25,592 U.S. government-sponsored enterprises 94,999 $ 2 2,183 92,818 State and municipals: Taxable 13,544 309 13,853 Tax-exempt 86,361 338 745 85,954 Residential mortgage-backed securities: U.S. government agencies 12,663 50 84 12,629 U.S. government-sponsored enterprises 33,149 49 401 32,797 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 6,269 230 6,039 Total $ 272,933 $ 757 $ 4,008 $ 269,682 Held-to-maturity: Tax-exempt state and municipals $ 6,855 $ 12 $ 43 $ 6,824 Residential mortgage-backed securities: U.S. government agencies 42 42 U.S. government-sponsored enterprises 1,464 55 5 1,514 Total $ 8,361 $ 67 $ 48 $ 8,380
Schedule of fair value and unrealized losses of investment securities in continuous unrealized loss position	Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2019 Value Losses Value Losses Value Losses U.S. government-sponsored enterprises $ 13,695 $ 149 $ 36,070 $ 78 $ 49,765 $ 227 State and municipals: Taxable 23,929 815 23,929 815 Tax-exempt 2,684 19 1,098 1 3,782 20 Residential mortgage-backed securities: U.S. government agencies 992 1 2,362 9 3,354 10 U.S. government-sponsored enterprises 36,939 51 3,751 30 40,690 81 Total $ 78,239 $ 1,035 $ 43,281 $ 118 $ 121,520 $ 1,153 Less Than 12 Months 12 Months or More Total Fair Unrealized Fair Unrealized Fair Unrealized December 31, 2018 Value Losses Value Losses Value Losses U.S. Treasury securities $ 1,995 $ 2 $ 19,671 $ 363 $ 21,666 $ 365 U.S. government-sponsored enterprises 2,037 1 89,729 2,182 91,766 2,183 State and municipals: Tax-exempt 9,022 74 52,352 714 61,374 788 Residential mortgage-backed securities: U.S. government agencies 7,800 84 7,800 84 U.S. government-sponsored enterprises 12,851 55 13,881 351 26,732 406 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 6,039 230 6,039 230 Total $ 25,905 $ 132 $ 189,472 $ 3,924 $ 215,377 $ 4,056
Summary of unrealized and realized gains and losses	Year Ended December 31, 2019 2018 Net gains recognized during the period on equity securities $ 132 $ 14 Less: Net gains recognized during the period on equity securities sold during the period Unrealized gains recognized during the reporting period on equity securities still held at the reporting date $ 132 $ 14
Available-for-Sale Securities.
Schedule of maturity distribution of fair value	Fair December 31, 2019 Value Within one year $ 41,486 After one but within five years 108,231 After five but within ten years 19,951 After ten years 33,297 202,965 Mortgage-backed and other amortizing securities 127,513 Total $ 330,478
Held-to-maturity Securities.
Schedule of maturity distribution of fair value	Amortized Fair December 31, 2019 Cost Value Within one year After one but within five years After five but within ten years After ten years $ 6,852 $ 7,060 6,852 7,060 Mortgage-backed securities 804 829 Total $ 7,656 $ 7,889

Loans, net and allowance for _2

Loans, net and allowance for loan losses (Tables)	12 Months Ended
	Dec. 31, 2019
Loans, net and allowance for loan losses
Schedule of major classifications of loans outstanding	December 31, 2019 December 31, 2018 Commercial $ 522,957 $ 494,134 Real estate: Commercial 1,011,423 907,803 Residential 301,378 299,876 Consumer 102,482 121,453 Total $ 1,938,240 $ 1,823,266
Schedule of changes in allowance for loan losses account by major classification of loans	Real estate December 31, 2019 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning balance $ 5,516 $ 10,736 $ 3,892 $ 1,235 $ 21,379 Charge-offs (3,314) (817) (477) (459) (5,067) Recoveries 69 1 29 166 265 Provisions 4,617 1,576 (218) 125 6,100 Ending balance $ 6,888 $ 11,496 $ 3,226 $ 1,067 $ 22,677 Ending balance: individually evaluated for impairment 363 279 135 777 Ending balance: collectively evaluated for impairment $ 6,525 $ 11,217 $ 3,091 $ 1,067 $ 21,900 Loans receivable: Ending balance $ 522,957 $ 1,011,423 $ 301,378 $ 102,482 $ 1,938,240 Ending balance: individually evaluated for impairment 4,658 3,048 2,153 261 10,120 Ending balance: collectively evaluated for impairment $ 518,299 $ 1,008,375 $ 299,225 $ 102,221 $ 1,928,120 The allowance for loan losses increased $1.3 million to $22.7 million at December 31, 2019, from $21.4 million at the end of 2018. The increase resulted from a provision for loan losses of $6.1 million less net loans charged-off of $4.8 million. The charge-offs for fiscal 2019 primarily occurred in the fourth quarter. We charged-off $3.3 million of commercial loans in 2019 substantially all of which were in the fourth quarter. Included in this amount was $2.3 million related to certain small business lines of credit in our Greater Delaware Valley market. In March 2020, we identified certain issues with a group of small business lines of credit, all of which had been originated by one of our lenders. All of these lines of credit were subject to credit review at origination and were considered satisfactory at such time. As a number of these lines of credit entered our annual renewal process, we identified changes in the credit quality of the borrowers which warranted action. We commenced a full review of this lender’s portfolio, as well as a review of other loans in our portfolio with similar characteristics. As a result of our review, we determined a number of the small business lines of credit originated by the particular lender to be impaired and collection doubtful at December 31, 2019. As such, we have charged-off $2.3 million of these loans and established a specific reserve of $0.3 million on one other line of credit retrospectively to December 31, 2019. All remaining small business commercial lines of credit for this lender were downgraded to special mention. We believe that all of the other loans in our portfolio with similar characteristics that were subject to our review were properly reflected in our allowance methodology at December 31, 2019. Real estate December 31, 2018 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning balance $ 5,513 $ 8,944 $ 3,111 $ 1,392 $ 18,960 Charge-offs (154) (1,250) (405) (545) (2,354) Recoveries 137 136 98 202 573 Provisions 20 2,906 1,088 186 4,200 Ending balance $ 5,516 $ 10,736 $ 3,892 $ 1,235 $ 21,379 Ending balance: individually evaluated for impairment 50 403 666 60 1,179 Ending balance: collectively evaluated for impairment $ 5,466 $ 10,333 $ 3,226 $ 1,175 $ 20,200 Loans receivable: Ending balance $ 494,134 $ 907,803 $ 299,876 $ 121,453 $ 1,823,266 Ending balance: individually evaluated for impairment 2,237 3,121 4,071 212 9,641 Ending balance: collectively evaluated for impairment $ 491,897 $ 904,682 $ 295,805 $ 121,241 $ 1,813,625 Real estate December 31, 2017 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning balance $ 4,452 $ 7,548 $ 2,961 $ 1,000 $ 15,961 Charge-offs (173) (706) (533) (737) (2,149) Recoveries 20 124 44 160 348 Provisions 1,214 1,978 639 969 4,800 Ending balance $ 5,513 $ 8,944 $ 3,111 $ 1,392 $ 18,960 Ending balance: individually evaluated for impairment 159 263 336 8 766 Ending balance: collectively evaluated for impairment $ 5,354 $ 8,681 $ 2,775 $ 1,384 $ 18,194 Loans receivable: Ending balance $ 476,199 $ 786,210 $ 287,935 $ 142,721 $ 1,693,065 Ending balance: individually evaluated for impairment 2,463 4,289 3,793 177 10,722 Ending balance: collectively evaluated for impairment $ 473,736 $ 781,921 $ 284,142 $ 142,544 $ 1,682,343
Schedule of major classification of loans portfolio summarized by credit quality	Special December 31, 2019 Pass Mention Substandard Doubtful Total Commercial $ 513,994 $ 3,837 $ 5,126 $ $ 522,957 Real estate: Commercial 993,645 2,508 15,270 1,011,423 Residential 298,449 597 2,332 301,378 Consumer 102,145 337 102,482 Total $ 1,908,233 $ 6,942 $ 23,065 $ $ 1,938,240 Special December 31, 2018 Pass Mention Substandard Doubtful Total Commercial $ 491,531 $ 869 $ 1,734 $ $ 494,134 Real estate: Commercial 886,849 8,934 12,020 907,803 Residential 295,758 357 3,761 299,876 Consumer 121,229 224 121,453 Total $ 1,795,367 $ 10,160 $ 17,739 $ $ 1,823,266
Schedule of information concerning nonaccrual loans by major loan classification	December 31, 2019 December 31, 2018 Commercial $ 3,336 $ 776 Real estate: Commercial 2,765 2,663 Residential 1,148 2,580 Consumer 261 212 Total $ 7,510 $ 6,231
Schedule of major classifications of loans by past due status	Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and December 31, 2019 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 75 $ 3,036 $ 3,111 $ 519,846 $ 522,957 Real estate: Commercial 926 $ 175 2,765 3,866 1,007,557 1,011,423 Residential 2,164 1,227 1,526 4,917 296,461 301,378 $ 378 Consumer 523 123 261 907 101,575 102,482 Total $ 3,688 $ 1,525 $ 7,588 $ 12,801 $ 1,925,439 $ 1,938,240 $ 378 Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and December 31, 2018 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 973 $ 79 $ 776 $ 1,828 $ 492,306 $ 494,134 Real estate: Commercial 1,889 218 2,736 4,843 902,960 907,803 $ 73 Residential 2,486 1,545 3,430 7,461 292,415 299,876 850 Consumer 756 292 212 1,260 120,193 121,453 Total $ 6,104 $ 2,134 $ 7,154 $ 15,392 $ 1,807,874 $ 1,823,266 $ 923
Summarized information concerning impaired loans	For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2019 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 3,638 $ 4,175 $ 3,907 $ 63 Real estate: Commercial 1,918 2,205 2,385 38 Residential 1,718 2,060 1,362 25 Consumer 261 274 233 Total 7,535 8,714 7,887 126 With an allowance recorded: Commercial 1,020 1,038 363 1,012 32 Real estate: Commercial 1,130 1,811 279 1,050 10 Residential 435 450 135 1,408 29 Consumer 20 Total 2,585 3,299 777 3,490 71 Total impaired loans Commercial 4,658 5,213 363 4,919 95 Real estate: Commercial 3,048 4,016 279 3,435 48 Residential 2,153 2,510 135 2,770 54 Consumer 261 274 253 Total $ 10,120 $ 12,013 $ 777 $ 11,377 $ 197 For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2018 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 1,562 $ 1,900 $ 1,318 $ 67 Real estate: Commercial 1,969 2,299 2,822 28 Residential 1,970 2,658 2,193 22 Consumer 152 160 135 Total 5,653 7,017 6,468 117 With an allowance recorded: Commercial 675 675 50 1,006 30 Real estate: Commercial 1,152 1,323 403 1,676 18 Residential 2,101 2,328 666 1,585 22 Consumer 60 60 60 21 Total 3,988 4,386 1,179 4,288 70 Total impaired loans Commercial 2,237 2,575 50 2,324 97 Real estate: Commercial 3,121 3,622 403 4,498 46 Residential 4,071 4,986 666 3,778 44 Consumer 212 220 60 156 Total $ 9,641 $ 11,403 $ 1,179 $ 10,756 $ 187 For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2017 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 1,279 $ 1,439 $ 1,668 $ Real estate: Commercial 2,888 3,190 2,985 Residential 2,196 2,672 2,227 Consumer 169 181 173 Total 6,532 7,482 7,053 88 With an allowance recorded: Commercial 1,184 1,218 $ 159 991 50 Real estate: Commercial 1,401 1,496 263 2,202 18 Residential 1,597 1,759 336 1,335 23 Consumer 8 8 8 20 Total 4,190 4,481 766 4,548 91 Total impaired loans Commercial 2,463 2,657 159 2,659 93 Real estate: Commercial 4,289 4,686 263 5,187 42 Residential 3,793 4,431 336 3,562 44 Consumer 177 189 8 193 Total $ 10,722 $ 11,963 $ 766 $ 11,601 $ 179
Summary loans whose terms have been modified resulting in troubled debt restructurings	Pre-Modification Post-Modification Number Outstanding Recorded Outstanding Recorded December 31, 2019 of Contracts Investment Recorded Investment Investment Commercial real estate 1 $ 346 $ 346 $ 241 Pre-Modification Post-Modification Number Outstanding Recorded Outstanding Recorded December 31, 2018 of Contracts Investment Recorded Investment Investment Commercial real estate 1 $ 340 $ 340 $ 340 Pre-Modification Post-Modification Number Outstanding Recorded Outstanding Recorded December 31, 2017 of Contracts Investment Recorded Investment Investment Commercial 2 $ 885 $ 885 $ 864 Commercial real estate 3 721 721 700 Residential mortgage 1 64 64 64 Total 6 $ 1,670 $ 1,670 $ 1,628

Off-balance sheet financial i_2

Off-balance sheet financial instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Off-balance sheet financial instruments.
Summary of contractual amounts of off-balance sheet commitments	December 31 2019 2018 Commitments to extend credit $ 290,517 $ 294,122 Unused portions of lines of credit 52,168 51,790 Standby letters of credit 45,018 33,275 $ 387,703 $ 379,187

Premises and equipment, net (Ta

Premises and equipment, net (Tables)	12 Months Ended
	Dec. 31, 2019
Premises and equipment, net
Summary of premises and equipment	December 31 2019 2018 Land $ 5,535 $ 5,535 Premises and leasehold improvements 47,705 44,813 Right-of-use assets 6,125 Furniture, fixtures and equipment 17,422 14,812 76,787 65,160 Less: accumulated depreciation 28,855 26,271 $ 47,932 $ 38,889

Operating lease commitments a_2

Operating lease commitments and contingencies (Tables)	12 Months Ended
	Dec. 31, 2019
Operating lease commitments and contingencies
Summary of future minimum annual rent commitments under various operating leases	2020 $ 597 2021 585 2022 589 2023 508 2024 435 Thereafter 5,513 Total future minimum lease payments 8,227 Less amount representing interest (2,033) Present value of future minimum lease payments $ 6,194

Intangible assets, net (Tables)

Intangible assets, net (Tables)	12 Months Ended
	Dec. 31, 2019
Intangible assets, net
Summary of estimated amortization expense on intangible assets	2020 $ 606 2021 491 2022 363 2023 105 Total $ 1,565

Other assets (Tables)

Other assets (Tables)	12 Months Ended
	Dec. 31, 2019
Other assets.
Schedule of components of other assets	December 31, 2019 December 31, 2018 Other real estate owned $ 450 $ 376 Investment in low income housing partnership 6,901 7,377 Mortgage servicing rights 738 718 Bank owned life insurance 35,041 34,288 Restricted equity securities (FHLB and other) 10,201 7,462 Net deferred tax asset 3,362 5,081 Interest rate floor 944 553 Interest rate swaps 4,728 108 Other assets 6,855 7,774 Total $ 69,220 $ 63,737

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2019
Deposits.
Summary of major components of interest-bearing and noninterest-bearing deposits	December 31 2019 2018 Interest-bearing deposits: Money market accounts $ 365,463 $ 328,949 Now accounts 402,999 421,414 Savings accounts 370,270 378,157 Time deposits less than $250 231,450 250,456 Time deposits $250 or more 138,069 85,786 Total interest-bearing deposits 1,508,251 1,464,762 Noninterest-bearing deposits 463,238 410,260 Total deposits $ 1,971,489 $ 1,875,022
Schedule of aggregate amounts of maturities for all time deposits	2020 $ 264,824 2021 50,398 2022 13,775 2023 19,837 2024 13,997 Thereafter 6,688 $ 369,519

Short-term borrowings (Tables)

Short-term borrowings (Tables)	12 Months Ended
	Dec. 31, 2019
Short-term borrowings
Summary of short-term borrowings	At and for the year ended December 31, 2019 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of Year FHLB advances $ 152,150 $ 62,941 $ 152,150 2.61 % 1.84 % At and for the year ended December 31, 2018 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of the Year FHLB advances $ 86,500 $ 133,834 $ 189,275 2.05 % 2.62 % At and for the year ended December 31, 2017 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of the Year FHLB advances $ 123,675 $ 76,846 $ 123,675 1.17 % 1.54 %

Long-term debt (Tables)

Long-term debt (Tables)	12 Months Ended
	Dec. 31, 2019
Long-term debt.
Schedule of long-term debt consisting of advances	Interest Rate Due Fixed Adjustable December 31, 2019 December 31, 2018 December 2019 3.48 % $ 3,000 December 2019 3.37 6,300 December 2019 1.62 % 10,000 June 2020 1.74 5,000 5,000 June 2020 2.22 6,000 December 2020 1.84 5,000 5,000 June 2021 1.99 10,000 March 2023 4.69 6,733 8,606 $ 32,733 $ 37,906
Schedule of maturities of long-term debt	2020 $ 17,963 2021 12,058 2022 2,157 2023 555 $ 32,733

Fair value of financial instr_2

Fair value of financial instruments (Tables)	12 Months Ended
	Dec. 31, 2019
Fair value of financial instruments
Schedule of assets and liabilities measured at fair value on a recurring basis	Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2019 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 24,128 $ 24,128 $ U.S. government-sponsored enterprises 87,110 $ 87,110 State and municipals: Taxable 34,898 34,898 Tax-exempt 60,163 60,163 Mortgage-backed securities: U.S. government agencies 8,470 8,470 U.S. government-sponsored enterprises 115,709 115,709 Common equity securities 423 423 Interest rate floor-other assets 944 944 Interest rate swap-other assets 4,728 4,728 Interest rate swap-other liabilities (4,680) (4,680) Total $ 331,893 $ 24,551 $ 307,342 $ Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2018 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 25,592 $ 25,592 $ U.S. government-sponsored enterprises 92,818 $ 92,818 State and municipals: Taxable 13,853 13,853 Tax-exempt 85,954 85,954 Mortgage-backed securities: U.S. government agencies 12,629 12,629 U.S. government-sponsored enterprises 38,836 38,836 Common equity securities 291 291 Interest rate floor-other assets 553 553 Interest rate swap-other assets 108 108 Interest rate swap-other liabilities (138) (138) Total $ 270,496 $ 25,883 $ 244,613 $
Schedule of assets and liabilities measured at fair value on a nonrecurring basis	Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2019 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 1,808 $ 1,808 Other real estate owned $ 283 $ 283 Fair Value Measurement Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs December 31, 2018 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 2,809 $ 2,809 Other real estate owned $ 234 $ 234
Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis	Quantitative Information about Level 3 Fair Value Measurements Fair Value Range December 31, 2019 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 1,808 Appraisal of collateral Appraisal adjustments 8.6% to 97.0% (54.4)% Liquidation expenses 3.0% to 6.0% (5.2)% Other real estate owned $ 283 Appraisal of collateral Appraisal adjustments 20.0% to 63.6% (43.7)% Liquidation expenses 3.0% to 6.0% (5.0)% Quantitative Information about Level 3 Fair Value Measurements Fair Value Range December 31, 2018 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 2,809 Appraisal of collateral Appraisal adjustments 7.1% to 97.0% (61.8)% Liquidation expenses 3.0% to 6.0% (4.4)% Other real estate owned $ 234 Appraisal of collateral Appraisal adjustments 26.0% to 73.3% (38.9)% Liquidation expenses 3.0% to 6.0% (5.0)%
Schedule of carrying and fair values of financial instruments	Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Fair Assets Inputs Inputs December 31, 2019 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and cash equivalents $ 31,153 $ 31,153 $ 31,153 Investment securities: Available-for-sale 330,478 330,478 24,128 $ 306,350 Common equity securities 423 423 423 Held-to-maturity 7,656 7,889 7,889 Loans held for sale 986 986 986 Net loans 1,915,563 1,881,658 $ 1,881,658 Accrued interest receivable 6,981 6,981 6,981 Mortgage servicing rights 738 1,444 1,444 Restricted equity securities (FHLB and other) 10,201 10,201 10,201 Interest rate floor 944 944 944 Interest rate swaps 4,728 4,728 4,728 Total $ 2,309,851 $ 2,276,885 Financial liabilities: Deposits $ 1,971,489 $ 1,972,084 $ 1,972,084 Long-term debt 32,733 33,075 33,075 Accrued interest payable 1,277 1,277 1,277 Interest rate swaps 4,680 4,680 4,680 Total $ 2,010,179 $ 2,011,116 Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Fair Assets Inputs Inputs December 31, 2018 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and cash equivalents $ 32,616 $ 32,616 $ 32,616 Investment securities: Available-for-sale 269,682 269,682 25,952 $ 244,090 Common equity securities 291 291 291 Held-to-maturity 8,361 8,380 8,380 Loans held for sale 749 749 749 Net loans 1,801,887 1,762,449 $ 1,762,449 Accrued interest receivable 7,115 7,115 7,115 Mortgage servicing rights 718 1,710 1,710 Restricted equity securities (FHLB and other) 7,462 7,462 7,462 Interest rate floor 553 553 553 Interest rate swaps 108 108 108 Total $ 2,129,542 $ 2,091,115 Financial liabilities: Deposits $ 1,875,022 $ 1,874,520 $ 1,874,520 Short-term borrowings 86,500 86,500 86,500 Long-term debt 37,906 38,071 38,071 Accrued interest payable 1,195 1,195 1,195 Interest rate swaps 138 138 138 Total $ 2,000,761 $ 2,000,424

Derivatives and hedging activ_2

Derivatives and hedging activities (Tables)	12 Months Ended
	Dec. 31, 2019
Derivatives and hedging activities
Schedule of fair value of derivative financial instruments and balance sheet classification	Asset Derivatives Asset Derivatives Liability Derivatives Liability Derivatives As of December 31, 2019 As of December 31, 2018 (1) As of December 31, 2019 As of December 31, 2018 (2) Notional Balance Sheet Balance Sheet Balance Sheet Balance Sheet Amount Location Fair Value Location Fair Value Location Fair Value Location Fair Value Derivatives designated as hedging instruments Interest Rate Floor $ 25,000 Other Assets $ 944 Other Assets $ Total derivatives designated as hedging instruments $ 944 $ Derivatives not designated as hedging instruments Interest Rate Swaps $ 172,096 Other Assets $ 4,728 Other Assets $ 108 Other Liabilities $ 4,680 Other Liabilities $ 138 Total derivatives not designated as hedging instruments $ 4,728 $ 108 $ 4,680 $ 138 (1) Assets amount does not include accrued interest receivable of $55 (2) Liabilities amount does not include accrued interest payable of $55
Schedule of effect of fair value and cash flow hedge accounting on accumulated other comprehensive income	Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain Loss Loss Gain Gain Recognized from Loss Reclassified Reclassified Recognized in Recognized in Recognized in Accumulated Reclassified from Accumulated from Accumulated Derivatives in OCI on OCI Included OCI Excluded Other Comprehensive from Accumulated OCI into Income OCI into Income Hedging Derivative Component Component Income into OCI into Income Included Component Excluded Component Relationships December 31, 2019 Income December 31, 2019 Derivatives in Cash Flow Hedging Relationships Interest Rate Floor (*) $ 192 $ 196 $ (4) Interest Income $ 26 $ 42 $ (16) Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain Loss Loss Gain Gain Recognized from Loss Reclassified Reclassified Recognized in Recognized in Recognized in Accumulated Reclassified from Accumulated from Accumulated Derivatives in OCI on OCI Included OCI Excluded Other Comprehensive from Accumulated OCI into Income OCI into Income Hedging Derivative Component Component Income into OCI into Income Included Component Excluded Component Relationships December 31, 2018 Income December 31, 2018 Derivatives in Cash Flow Hedging Relationships Interest Rate Floor (*) $ 243 $ 109 $ 134 Interest Income $ (3) $ 13 $ (16) * Amounts disclosed are gross and not net of taxes.
Schedule of effect of derivative financial instruments on Income Statement	Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships 2019 2018 Interest Income Interest Income Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded $ 26 $ (3) The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships Interest contracts Amount of gain or (loss) reclassified from accumulated other comprehensive income into income $ 26 $ (3) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component 42 13 Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component $ (16) $ (16)
Schedule of gain (loss) on derivative instruments not designated as hedging instruments	Amount of Loss Amount of Loss Recognized in Recognized in Location of Gain or (Loss) Income Income Recognized in Income on Twelve Months Ended Twelve Months Ended Derivatives Not Designated as Hedging Instruments Derivative December 31, 2019 December 31, 2018 Interest Rate Swaps Other non-interest income $ 36 $ 49 Fee Income Other income / (expense) $ 36 $ 53
Schedule of offsetting derivatives	Offsetting of Derivative Assets as of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 5,672 $ $ 5,672 $ $ 5,672 Offsetting of Derivative Liabilities as of December 31, 2019 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 4,680 $ $ 4,680 $ $ 4,680 Offsetting of Derivative Assets as of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 661 $ $ 661 $ $ 661 Offsetting of Derivative Liabilities as of December 31, 2018 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Assets Recognized Offset in the presented in the Financial Cash Collateral Net Assets Balance Sheet Balance Sheet Instruments Received Amount Derivatives $ 138 $ $ 138 $ $ 138

Stock plans (Tables)

Stock plans (Tables)	12 Months Ended
	Dec. 31, 2019
Stock plans
Schedule of activity related to restricted stock	Year Ended December 31 2019 2018 2017 Nonvested, January 1 21,309 12,448 12,362 Granted shares 17,345 11,468 10,628 Vested shares 10,120 2,607 10,542 Forfeited shares 1,069 Nonvested, December 31 27,465 21,309 12,448

Employee benefit plans (Tables)

Employee benefit plans (Tables)	12 Months Ended
	Dec. 31, 2019
Employee benefit plans
Summary of pension and postretirement life insurance plans	Pension Benefits December 31 2019 2018 Change in benefit obligation: Benefit obligation, beginning $ 16,338 $ 16,935 Interest cost 639 623 Change in experience gain 96 135 Change in actuarial assumptions loss (gain) 1,221 (546) Benefits paid (803) (809) Benefit obligation, ending 17,491 16,338 Change in plan assets: Fair value of plan assets, beginning 14,919 13,264 Actual return on plan assets 2,814 (236) Employer contributions 2,700 Benefits paid (803) (809) Fair value of plan assets, ending 16,930 14,919 Funded status at end of year $ (561) $ (1,419)
Schedule of amounts recognized in balance sheet	Pension Benefits December 31 2019 2018 Liabilities $ 561 $ 1,419 Amounts recognized in the accumulated other comprehensive loss consist of: Net actuarial gain (6,579) (7,218) Deferred taxes 1,382 1,516 Net amount recognized $ (5,197) $ (5,702)
Schedule of components of net periodic benefit cost	Pension Benefits Years Ended December 31, 2019 2018 2017 Net periodic pension income: Interest cost $ 639 $ 623 $ 650 Expected return on plan assets (1,084) (960) (915) Amortization of unrecognized net loss 227 194 195 Net periodic pension income: (218) (143) (70) Other changes in plan assets and benefit obligations recognized in other comprehensive income (loss): Net loss (gain) 639 (590) 318 Deferred tax (134) 124 (67) Total recognized in other comprehensive loss 505 (466) 251 Total recognized in net period pension cost and other comprehensive loss $ 287 $ (609) $ 181
Schedule of weighted-average assumptions used to determine benefit obligations and related expenses	Pension Benefits December 31, Discount rate: Obligation 3.25 % 4.00 % 3.75 % Expense 4.00 3.75 4.00 Expected long-term return on plan assets 7.50 % 7.50 % 7.50 %
Schedule of pension plan weighted-average asset allocations	December 31, 2019 2018 Asset Category: Cash and cash equivalents 6.2 % 5.0 % Equity securities 61.9 56.2 Corporate bonds 20.6 23.6 U.S. government securities 11.3 15.2 % %
Schedule of fair value measurement of pension plan assets	Quoted Prices in Active Markets Significant Significant for Identical Observable Observable Assets Inputs Inputs December 31, 2019 Total (Level 1) (Level 2) (Level 3) Cash $ 1,053 $ 1,053 $ Equity securities: U.S. large cap 9,663 9,663 International 817 817 Fixed income securities: U.S. Treasuries 202 $ 202 U.S. government agencies 1,713 1,713 Corporate bonds 3,482 3,482 Total $ 16,930 $ 11,533 $ 5,397 $ Quoted Prices in Active Markets Significant Significant for Identical Observable Observable Assets Inputs Inputs December 31, 2018 Total (Level 1) (Level 2) (Level 3) Cash $ 743 $ 743 $ Equity securities: U.S. large cap 7,687 7,687 International 694 694 Fixed income securities: U.S. Treasuries 192 $ 192 U.S. government agencies 2,085 2,085 Corporate bonds 3,518 3,518 Total $ 14,919 $ 9,124 $ 5,795 $
Schedule of expected benefit payments	Pension Benefits 2020 $ 867 2021 867 2022 904 2023 919 2024 969 Thereafter 5,071

Income taxes (Tables)

Income taxes (Tables)	12 Months Ended
	Dec. 31, 2019
Income taxes
Schedule of current and deferred amounts of the provision for income taxes expense (benefit0	Year Ended December 31 2019 2018 2017 Current $ 2,761 $ 4,072 $ 6,515 Deferred 394 (681) 1,665 Total $ 3,155 $ 3,391 $ 8,180
Schedule of the components of the net deferred tax asset	December 31 2019 2018 Deferred tax assets: Allowance for loan losses $ 4,762 $ 4,490 Lease liability 1,301 Defined benefit plan 815 1,516 Deferred compensation 682 593 Deferred loan fees 525 470 Investment securities available-for-sale 683 Other 137 116 Total 8,222 7,868 Deferred tax liabilities: Lease right-of-use assets 1,286 Premises and equipment, net 1,350 985 Merger related accounting 850 1,083 Deferred loan costs 716 626 Investment securities available-for-sale 416 Other 242 93 Total 4,860 2,787 Net deferred tax asset $ 3,362 $ 5,081
Schedule of the reconciliation between the amount of the effective income tax expense and the income tax expense that would have been provided at the federal statutory rate	2019 2018 2017 Year Ended December 31 Amount % Amount % Amount % Federal income tax at statutory rate $ 6,067 21.00 % $ 5,945 21.00 % $ 9,323 35.00 % Effect of federal income tax rate changes (Note 1) 2,623 9.85 Tax exempt interest (1,299) (4.50) (1,320) (4.66) (2,157) (8.10) Bank owned life insurance income (159) (0.55) (236) (0.83) (269) (1.01) Residential housing program tax credits (1,094) (3.79) (1,094) (3.87) (1,095) (4.11) Other, net (360) (1.25) 96 0.34 (245) (0.92) Total $ 3,155 10.91 % $ 3,391 11.98 % $ 8,180 30.71 %

Parent Company financial stat_2

Parent Company financial statements (Tables)	12 Months Ended
	Dec. 31, 2019
Parent Company financial statements
Condensed Balance Sheets	December 31 2019 2018 Assets: Cash and cash equivalents $ 5,192 $ 3,736 Equity securities 423 291 Investment in bank subsidiary 293,415 272,617 Due from subsidiaries 1,974 Other assets 19 35 Total assets $ 299,049 $ 278,653 Liabilities and Stockholders’ Equity: Other liabilities $ 39 $ 39 Stockholders’ equity 299,010 278,614 Total liabilities and stockholders’ equity $ 299,049 $ 278,653
Condensed Statements of Income and Comprehensive Income	Year Ended December 31 2019 2018 2017 Income: Dividends from subsidiaries $ 10,131 $ 9,691 $ 9,319 Other income 8 72 52 Unrealized holding gains on equity securities 132 13 Total income 10,271 9,776 9,371 Expense: Other expenses 145 214 205 Total expenses 145 214 205 Income before taxes and undistributed income 10,126 9,562 9,166 Income tax benefit (1) (27) (54) Income before undistributed income of subsidiaries 10,127 9,589 9,220 Equity in undistributed net income of subsidiaries 15,609 15,331 9,237 Net income $ 25,736 $ 24,920 $ 18,457 Comprehensive Income $ 30,607 $ 23,523 $ 17,500
Condensed Statements of Cash Flows	Year Ended December 31 2019 2018 2017 Cash flows from operating activities: Net income $ 25,736 $ 24,920 $ 18,457 Adjustments: Net gains on investment securities (132) (14) Undistributed net income of subsidiaries (15,609) (15,331) (9,237) Decrease in other assets (310) (111) (3) Decrease in other liabilities (10) (53) Stock based compensation 554 272 177 Increase in due from subsidiaries 1,974 Net cash provided by operating activities 12,213 9,726 9,341 Cash flows from investing activities: Purchase of equity securities (234) (43) Cash flows used in financing activities: Stock awards 8 5 5 Purchase of treasury stock (634) Cash dividends paid (10,131) (9,693) (9,319) Net cash used in financing activities (10,757) (9,688) (9,314) Increase (decrease) in cash 1,456 (196) (16) Cash at beginning of year 3,736 3,932 3,948 Cash at end of year $ 5,192 $ 3,736 $ 3,932

Regulatory matters (Tables)

Regulatory matters (Tables)	12 Months Ended
	Dec. 31, 2019
Regulatory matters
Schedule of actual capital ratios and the minimum ratios required for capital adequacy purposes and to be well capitalized under the prompt corrective action provisions	Minimum to be Well Capitalized under Minimum For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions December 31, 2019 Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk-weighted assets: Consolidated $ 237,280 11.90 % $ 89,717 4.50 % Peoples Bank 231,685 11.64 89,576 4.50 $ 129,387 6.50 % Tier 1 capital to risk-weighted assets: Consolidated 237,280 11.90 119,623 6.00 Peoples Bank 231,685 11.64 119,434 6.00 159,246 8.00 Total capital to risk-weighted assets: Consolidated 259,957 13.04 159,497 8.00 Peoples Bank 254,362 12.78 159,246 8.00 199,057 10.00 Tier 1 capital to average assets: Consolidated 237,280 10.14 93,633 4.00 Peoples Bank 231,685 9.91 % 93,508 4.00 % 116,884 5.00 % Minimum to be Well Capitalized under Minimum For Capital Prompt Corrective Actual Adequacy Purposes Action Provisions December 31, 2018 Amount Ratio Amount Ratio Amount Ratio Common equity Tier 1 capital to risk-weighted assets: Consolidated $ 221,024 11.95 % $ 83,241 4.50 % Peoples Bank 215,027 11.64 83,144 4.50 $ 120,097 6.50 % Tier 1 capital to risk-weighted assets: Consolidated 221,024 11.95 110,988 6.00 Peoples Bank 215,027 11.64 110,859 6.00 147,811 8.00 Total capital to risk-weighted assets: Consolidated 242,403 13.10 147,984 8.00 Peoples Bank 236,406 12.80 147,811 8.00 184,764 10.00 Tier 1 capital to average assets: Consolidated 221,024 10.03 88,119 4.00 Peoples Bank 215,027 9.78 % 87,969 4.00 % 109,962 5.00 %

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2019
Accumulated Other Comprehensive Loss
Schedule of components of accumulated other comprehensive loss	December 31, 2019 December 31, 2018 Net unrealized gain (loss) on investment securities available-for-sale $ 1,835 $ (3,251) Income tax 385 (683) Net of income taxes 1,450 (2,568) Benefit plan adjustments (6,579) (7,218) Income tax (1,382) (1,516) Net of income taxes (5,197) (5,702) Derivative adjustments 687 246 Income tax 144 52 Net of income taxes 543 194 Accumulated other comprehensive loss $ (3,205) $ (8,076)
Schedule of other comprehensive income (loss) and related tax effects	Year Ended December 31, 2019 2018 2017 Unrealized loss on investment securities available-for-sale $ 5,109 $ (2,014) $ (1,790) Net gain on the sale of investment securities available-for-sale (23) Benefit plans: Amortization of actuarial loss (2) 227 194 195 Actuarial gain (loss) 412 (785) 123 Net change in benefit plan liabilities 639 (591) 318 Net change in derivatives 441 246 Other comprehensive loss before taxes 6,166 (2,359) (1,472) Income tax 1,295 (496) (515) Other comprehensive loss $ 4,871 $ (1,863) $ (957) (1) Represents amounts reclassified out of accumulated comprehensive loss and included in gains on sale of investment securities on the consolidated statements of income and comprehensive income. (2) Represents amounts reclassified out of accumulated comprehensive loss and included in the computation of net periodic pension expense. Refer to Note 16 included in these consolidated financial statements.

Summary of quarterly financia_2

Summary of quarterly financial information (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2019
Summary of quarterly financial information (unaudited)
Summary of quarterly financial information	2019 Quarter Ended March 31 June 30 Sept. 30 Dec. 31 Interest income $ 22,801 $ 23,332 $ 23,632 $ 23,616 Interest expense 4,504 4,604 4,396 4,364 Net interest income 18,297 18,728 19,236 19,252 Provision for loan losses 1,050 350 700 4,000 Net interest income after provision for loan losses 17,247 18,378 18,536 15,252 Noninterest income 3,416 4,152 3,682 3,870 Noninterest expense 13,490 14,429 14,079 13,644 Income before income taxes 7,173 8,101 8,139 5,478 Income tax expense 761 957 991 446 Net income $ 6,412 $ 7,144 $ 7,148 $ 5,032 Per share data: Net income $ 0.87 $ 0.96 $ 0.97 $ 0.68 Cash dividends declared $ 0.34 $ 0.34 $ 0.34 $ 0.35 Average common shares outstanding 7,399,054 7,399,302 7,394,992 7,388,488 2018 Quarter Ended March 31 June 30 Sept. 30 Dec. 31 Interest income $ 19,994 $ 20,766 $ 21,419 $ 22,482 Interest expense 2,807 3,115 3,466 3,934 Net interest income 17,187 17,651 17,953 18,548 Provision for loan losses 1,050 1,050 1,050 1,050 Net interest income after provision for loan losses 16,137 16,601 16,903 17,498 Noninterest income 3,572 3,663 3,253 3,171 Noninterest expense 13,081 13,496 12,537 13,373 Income before income taxes 6,628 6,768 7,619 7,296 Income tax expense 774 811 902 904 Net income $ 5,854 $ 5,957 $ 6,717 $ 6,392 Per share data: Net income $ 0.79 $ 0.81 $ 0.91 $ 0.86 Cash dividends declared $ 0.32 $ 0.33 $ 0.33 $ 0.33 Average common shares outstanding 7,396,505 7,396,533 7,399,054 7,399,054

Summary of significant accoun_4

Summary of significant accounting policies (Details)	12 Months Ended
	Dec. 31, 2019USD ($)Office	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jan. 01, 2019USD ($)
Number of full-service community banking offices | Office	28
Number of limited purpose banking offices	$ 1
Minimum lease payments due	8,227,000
Reclassification of prior period items amounts effect on net income	$ 0
Debt service coverage ratio	1.2
Non performing loans past due period for Non-accrual status	90 days
Maximum days of consumer loans past due	120 days
Impairment losses on intangible assets	$ 0	$ 0	$ 0
Advertising expense	$ 873,000	720,000	942,000
Income tax benefit recognition threshold	50.00%
Unrecognized tax benefit or accrued interest and penalties	$ 0	$ 0	$ 0
Lease liabilities for operating leases	6,194,000
Right-of-use assets	$ 6,125,000
Minimum
Contractual terms	6 months
Maximum
Finite useful life of intangible assets	10 years
Commercial Real Estate
Maximum loan to value percentage	80.00%
Residential Mortgage | Maximum
Maximum amortization period	30 years
Accounting Standards Update 2016-02 | Restatement Adjustment
Lease liabilities for operating leases				$ 6,523,000
Right-of-use assets				$ 6,523,000

Summary of significant accoun_5

Summary of significant accounting policies - Estimated Useful Lives of Related Assets (Details)	12 Months Ended
	Dec. 31, 2019
Premises and leasehold improvements | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	7 years
Premises and leasehold improvements | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	40 years
Furniture, fixtures and equipment | Minimum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	3 years
Furniture, fixtures and equipment | Maximum
Property, Plant and Equipment [Line Items]
Property, plant and equipment, estimated useful life	10 years

Summary of significant accoun_6

Summary of significant accounting policies - Income Taxes (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Summary of significant accounting policies
Federal statutory rate		21.00%	21.00%	35.00%
Increase in income tax expense due to Tax Cuts and Jobs Act	$ 2.6
Increase in income tax expense due to Tax Cuts and Jobs Act (in dollars per share)	$ 0.35

Summary of significant accoun_7

Summary of significant accounting policies - Schedule of Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Basic earnings per share
Net income, Basic	$ 25,736	$ 24,920	$ 18,457
Average common shares outstanding, Basic	7,395,429	7,397,797	7,395,837
Earnings per share, Basic	$ 3.48	$ 3.37	$ 2.50
Diluted earnings per share
Net income, Diluted	$ 25,736	$ 24,920	$ 18,457
Average common shares outstanding, Diluted	7,395,429	7,397,797	7,395,837
Earnings per share, Diluted	$ 3.48	$ 3.37	$ 2.50

Cash and due from banks (Detail

Cash and due from banks (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Cash and due from banks
Required reserve balances	$ 2,545	$ 2,768

Investment securities - Amortiz

Investment securities - Amortized Cost and Fair Value of Investment Securities Aggregated by Investment Category (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)	Dec. 31, 2019USD ($)security
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	$ 272,933	$ 328,643
Available-for-sale, Gross Unrealized Gains	757	2,988
Available-for-sale, Gross Unrealized Losses	4,008	1,153
Available-for-sale, Fair Value	269,682	330,478
Held-to-maturity, Amortized Cost	8,361	7,656
Held-to-maturity, Gross Unrealized Gains	67	233
Held-to-maturity, Gross Unrealized Losses	48
Held-to-maturity, Fair value	8,380	7,889
Equity investments carried at fair value	291	$ 423
Number of equity securities portfolio consisting of stock of other financial institutions | security		2
Net unrealized gains recognized in AOCI	3
Mortgage-backed Securities, U.S. government agencies
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	12,663	$ 8,368
Available-for-sale, Gross Unrealized Gains	50	112
Available-for-sale, Gross Unrealized Losses	84	10
Available-for-sale, Fair Value	12,629	8,470
Held-to-maturity, Amortized Cost	42	31
Held-to-maturity, Fair value	42	31
Mortgage-backed Securities, U.S. government-sponsored enterprises
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	33,149	101,914
Available-for-sale, Gross Unrealized Gains	49	1,011
Available-for-sale, Gross Unrealized Losses	401	77
Available-for-sale, Fair Value	32,797	102,848
Held-to-maturity, Amortized Cost	1,464	773
Held-to-maturity, Gross Unrealized Gains	55	25
Held-to-maturity, Gross Unrealized Losses	5
Held-to-maturity, Fair value	1,514	798
Commercial mortgage-backed Securities, U.S. government-sponsored enterprises
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	6,269	12,694
Available-for-sale, Gross Unrealized Gains		171
Available-for-sale, Gross Unrealized Losses	230	4
Available-for-sale, Fair Value	6,039	12,861
U.S. government-sponsored enterprises state and municipals
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	94,999	87,156
Available-for-sale, Gross Unrealized Gains	2	181
Available-for-sale, Gross Unrealized Losses	2,183	227
Available-for-sale, Fair Value	92,818	87,110
U.S. Treasuries
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	25,948	23,966
Available-for-sale, Gross Unrealized Gains	9	162
Available-for-sale, Gross Unrealized Losses	365
Available-for-sale, Fair Value	25,592	24,128
Common equity securities.
Schedule of Trading Securities and Other Trading Assets
Equity investments carried at fair value	291	423
State and Municipals, Taxable
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	13,544	35,418
Available-for-sale, Gross Unrealized Gains	309	295
Available-for-sale, Gross Unrealized Losses		815
Available-for-sale, Fair Value	13,853	34,898
Held-to-maturity, Amortized Cost		6,852
Held-to-maturity, Gross Unrealized Gains		208
Held-to-maturity, Fair value		7,060
State and Municipals, Tax-exempt
Schedule of Trading Securities and Other Trading Assets
Available-for-sale, Amortized Cost	86,361	59,127
Available-for-sale, Gross Unrealized Gains	338	1,056
Available-for-sale, Gross Unrealized Losses	745	20
Available-for-sale, Fair Value	85,954	$ 60,163
Held-to-maturity, Amortized Cost	6,855
Held-to-maturity, Gross Unrealized Gains	12
Held-to-maturity, Gross Unrealized Losses	43
Held-to-maturity, Fair value	$ 6,824

Investment securities - Unreali

Investment securities - Unrealized and realized gains and losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investment securities
Net gains recognized during the period on equity securities	$ 132	$ 14
Unrealized gains recognized during the reporting period on equity securities still held at the reporting date	$ 132	$ 14

Investment securities - Restric

Investment securities - Restricted Investment In Stock (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)security	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Available-for-sale and Held-to-maturity securities
Unrealized gains (loss), net | $	$ 1,450	$ (2,568)
Net of deferred income taxes | $	385	683
Proceeds from sale of available-for-sale investment securities | $	9,677	0
Gross realized gains | $	66
Gross realized losses | $	$ 43
Number of investment securities held	70
Other-than-temporary impairments recognized | $	$ 0	$ 0	$ 0
State and Municipals, Tax-exempt
Available-for-sale and Held-to-maturity securities
Number of investment securities held	6
Number of securities in continuous unrealized loss positions 12 months or longer	2
State and Municipals, Taxable
Available-for-sale and Held-to-maturity securities
Number of investment securities held	22
U.S. government-sponsored enterprises state and municipals
Available-for-sale and Held-to-maturity securities
Maximum percentage of stockholders' equity exceeded for securities of any individual issuer	10.00%	10.00%
Number of investment securities held	18
Number of securities in continuous unrealized loss positions 12 months or longer	16
Mortgage-backed Securities, Issued by Government Agencies | United States
Available-for-sale and Held-to-maturity securities
Number of investment securities held	24
Mortgage-backed Securities, U.S. government-sponsored enterprises
Available-for-sale and Held-to-maturity securities
Number of securities in continuous unrealized loss positions 12 months or longer	17

Investment securities - Maturit

Investment securities - Maturity Distribution of Debt Securities Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investment securities
Within one year	$ 41,486
After one but within five years	108,231
After five but within ten years	19,951
After ten years	33,297
Available for sale securities	202,965
Mortgage-backed securities	127,513
Total	$ 330,478	$ 269,682

Investment securities - Summary

Investment securities - Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amortized Cost of Held-to-maturity Securities
Amortized Cost, After ten years, Held to maturity	$ 6,852
Amortized Cost, Held to maturity	6,852
Amortized Cost, Mortgage-backed securities, Held to maturity	804
Held-to-maturity, Amortized Cost	7,656	$ 8,361
Fair Value of Held-to-maturity Securities
Fair Value, After ten years, Held to maturity	7,060
Fair Value, Held to maturity	7,060
Fair Value, Mortgage-backed securities, Held to maturity	829
Held to maturity, Fair Value	$ 7,889	$ 8,380

Investment securities - Pledged

Investment securities - Pledged Securities (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Available-for-sale and Held-to-maturity securities
Carrying value of securities pledged	us-gaap:AssetPledgedAsCollateralMember	us-gaap:AssetPledgedAsCollateralMember
Collateral Pledged
Available-for-sale and Held-to-maturity securities
Carrying value of securities pledged	$ 157,047	$ 161,647

Investment securities - Fair Va

Investment securities - Fair Value and Unrealized Losses of Investment Securities in Continuous Unrealized Loss Position (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value	$ 78,239	$ 25,905
12 Months or More, Fair Value	43,281	189,472
Less Than 12 Months, Unrealized Losses	1,035	132
12 Months or More, Unrealized Losses	118	3,924
Total, Fair Value	121,520	215,377
Total, Unrealized Losses	1,153	4,056
State and Municipals, Taxable
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value	23,929
Less Than 12 Months, Unrealized Losses	815
Total, Fair Value	23,929
Total, Unrealized Losses	815
State and Municipals, Tax-exempt
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value	2,684	9,022
12 Months or More, Fair Value	1,098	52,352
Less Than 12 Months, Unrealized Losses	19	74
12 Months or More, Unrealized Losses	1	714
Total, Fair Value	3,782	61,374
Total, Unrealized Losses	20	788
U.S. Treasuries
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value		1,995
12 Months or More, Fair Value		19,671
Less Than 12 Months, Unrealized Losses		2
12 Months or More, Unrealized Losses		363
Total, Fair Value		21,666
Total, Unrealized Losses		365
U.S. government-sponsored enterprises state and municipals
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value	13,695	2,037
12 Months or More, Fair Value	36,070	89,729
Less Than 12 Months, Unrealized Losses	149	1
12 Months or More, Unrealized Losses	78	2,182
Total, Fair Value	49,765	91,766
Total, Unrealized Losses	227	2,183
Mortgage-backed Securities, U.S. government agencies
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value	992
12 Months or More, Fair Value	2,362	7,800
Less Than 12 Months, Unrealized Losses	1
12 Months or More, Unrealized Losses	9	84
Total, Fair Value	3,354	7,800
Total, Unrealized Losses	10	84
Commercial mortgage-backed Securities, U.S. government-sponsored enterprises
Available-for-sale and Held-to-maturity securities
12 Months or More, Fair Value		6,039
12 Months or More, Unrealized Losses		230
Total, Fair Value		6,039
Total, Unrealized Losses		230
Mortgage-backed Securities, U.S. government-sponsored enterprises
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Fair Value	36,939	12,851
12 Months or More, Fair Value	3,751	13,881
Less Than 12 Months, Unrealized Losses	51	55
12 Months or More, Unrealized Losses	30	351
Total, Fair Value	40,690	26,732
Total, Unrealized Losses	$ 81	$ 406

Investment securities - Additio

Investment securities - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)shares	Dec. 31, 2018USD ($)
Value of common stock | $	$ 14,777	$ 14,798
Visa Class A stock
Conversion ratio of common stock	1.6228
Shares to be issued following resolution of Visa litigation	72,997
Visa Class B stock
Shares held	44,982

Loans, net and allowance for _3

Loans, net and allowance for loan losses - Net Deferred Loan Costs (Details) - USD ($)	12 Months Ended			36 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Loans, net and allowance for loan losses
Net deferred loan costs	$ 908,000	$ 744,000		$ 908,000
Loans outstanding to directors, executive officers, principal stockholders or to their affiliates	12,248,000	14,701,000		12,248,000
Advances and repayments of loans receivable	7,857,000	9,376,000
Number of related party loans classified as nonaccrual, past due, or restructured	0	0
Deposits from related parties	12,900,000	16,200,000		12,900,000
Interest income recognized using the cash-basis method on impaired loans	$ 0	$ 0	$ 0	$ 0

Loans, net and allowance for _4

Loans, net and allowance for loan losses - Major Classifications of Loans Outstanding (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounts, Notes, Loans and Financing Receivable
Loans	$ 1,938,240	$ 1,823,266	$ 1,693,065
Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	522,957	494,134	476,199
Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	1,011,423	907,803	786,210
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	$ 102,482	$ 121,453	$ 142,721

Loans, net and allowance for _5

Loans, net and allowance for loan losses - Changes in Allowance for Loan Losses Account by Major Classification of Loans (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Allowance for loan losses:
Beginning Balance				$ 21,379				$ 18,960	$ 21,379	$ 18,960	$ 15,961
Charge-offs									(5,067)	(2,354)	(2,149)
Recoveries									265	573	348
Provisions	$ 4,000	$ 700	$ 350	1,050	$ 1,050	$ 1,050	$ 1,050	1,050	6,100	4,200	4,800
Ending balance	22,677				21,379				22,677	21,379	18,960
Beginning Balance				21,379				18,960	21,379	18,960	15,961
Ending balance: individually evaluated for impairment												$ 777	$ 1,179	$ 766
Charge-offs									(5,067)	(2,354)	(2,149)
Ending balance: collectively evaluated for impairment												21,900	20,200	18,194
Recoveries									265	573	348
Ending balance: loans acquired with deteriorated credit quality	22,677			21,379	21,379			18,960	22,677	21,379	18,960	22,677	21,379	18,960
Provisions	4,000	$ 700	$ 350	1,050	1,050	$ 1,050	$ 1,050	1,050	6,100	4,200	4,800
Loans receivable:
Total Loans												1,938,240	1,823,266	1,693,065
Ending balance: individually evaluated for impairment												10,120	9,641	10,722
Ending balance: collectively evaluated for impairment												1,928,120	1,813,625	1,682,343
Total Loans												1,938,240	1,823,266	1,693,065
Ending balance	22,677				21,379				22,677	21,379	18,960
Ending balance: individually evaluated for impairment												10,120	9,641	10,722
Ending balance: collectively evaluated for impairment												1,928,120	1,813,625	1,682,343
Allowance for credit losses increase (decrease)									1,300
Write-offs net of recoveries									4,800
Commercial
Allowance for loan losses:
Beginning Balance				5,516				5,513	5,516	5,513	4,452
Charge-offs									(3,314)	(154)	(173)
Recoveries									69	137	20
Provisions									4,617	20	1,214
Ending balance	6,888				5,516				6,888	5,516	5,513
Beginning Balance				5,516				5,513	5,516	5,513	4,452
Ending balance: individually evaluated for impairment												363	50	159
Charge-offs									(3,314)	(154)	(173)
Ending balance: collectively evaluated for impairment												6,525	5,466	5,354
Recoveries									69	137	20
Ending balance: loans acquired with deteriorated credit quality	6,888			5,516	5,516			5,513	6,888	5,516	5,513	6,888	5,516	5,513
Provisions									4,617	20	1,214
Loans receivable:
Total Loans												522,957	494,134	476,199
Ending balance: individually evaluated for impairment												4,658	2,237	2,463
Ending balance: collectively evaluated for impairment												518,299	491,897	473,736
Total Loans												522,957	494,134	476,199
Ending balance	6,888				5,516				6,888	5,516	5,513
Ending balance: individually evaluated for impairment												4,658	2,237	2,463
Ending balance: collectively evaluated for impairment												518,299	491,897	473,736
Charge-offs in greater Delaware Valley market									2,300
Charge-offs originated from one employee and deemed impaired									2,300
Loans receivable specific reserve												300
Real estate Commercial
Allowance for loan losses:
Beginning Balance				10,736				8,944	10,736	8,944	7,548
Charge-offs									(817)	(1,250)	(706)
Recoveries									1	136	124
Provisions									1,576	2,906	1,978
Ending balance	11,496				10,736				11,496	10,736	8,944
Beginning Balance				10,736				8,944	10,736	8,944	7,548
Ending balance: individually evaluated for impairment												279	403	263
Charge-offs									(817)	(1,250)	(706)
Ending balance: collectively evaluated for impairment												11,217	10,333	8,681
Recoveries									1	136	124
Ending balance: loans acquired with deteriorated credit quality	11,496			10,736	10,736			8,944	11,496	10,736	8,944	11,496	10,736	8,944
Provisions									1,576	2,906	1,978
Loans receivable:
Total Loans												1,011,423	907,803	786,210
Ending balance: individually evaluated for impairment												3,048	3,121	4,289
Ending balance: collectively evaluated for impairment												1,008,375	904,682	781,921
Total Loans												1,011,423	907,803	786,210
Ending balance	11,496				10,736				11,496	10,736	8,944
Ending balance: individually evaluated for impairment												3,048	3,121	4,289
Ending balance: collectively evaluated for impairment												1,008,375	904,682	781,921
Real estate Residential
Allowance for loan losses:
Beginning Balance				3,892				3,111	3,892	3,111	2,961
Charge-offs									(477)	(405)	(533)
Recoveries									29	98	44
Provisions									(218)	1,088	639
Ending balance	3,226				3,892				3,226	3,892	3,111
Beginning Balance				3,892				3,111	3,892	3,111	2,961
Ending balance: individually evaluated for impairment												135	666	336
Charge-offs									(477)	(405)	(533)
Ending balance: collectively evaluated for impairment												3,091	3,226	2,775
Recoveries									29	98	44
Ending balance: loans acquired with deteriorated credit quality	3,226			3,892	3,892			3,111	3,226	3,892	3,111	3,226	3,892	3,111
Provisions									(218)	1,088	639
Loans receivable:
Total Loans												301,378	299,876	287,935
Ending balance: individually evaluated for impairment												2,153	4,071	3,793
Ending balance: collectively evaluated for impairment												299,225	295,805	284,142
Total Loans												301,378	299,876	287,935
Ending balance	3,226				3,892				3,226	3,892	3,111
Ending balance: individually evaluated for impairment												2,153	4,071	3,793
Ending balance: collectively evaluated for impairment												299,225	295,805	284,142
Consumer
Allowance for loan losses:
Beginning Balance				1,235				1,392	1,235	1,392	1,000
Charge-offs									(459)	(545)	(737)
Recoveries									166	202	160
Provisions									125	186	969
Ending balance	1,067				1,235				1,067	1,235	1,392
Beginning Balance				1,235				1,392	1,235	1,392	1,000
Ending balance: individually evaluated for impairment													60	8
Charge-offs									(459)	(545)	(737)
Ending balance: collectively evaluated for impairment												1,067	1,175	1,384
Recoveries									166	202	160
Ending balance: loans acquired with deteriorated credit quality	1,067			$ 1,235	1,235			$ 1,392	1,067	1,235	1,392	1,067	1,235	1,392
Provisions									125	186	969
Loans receivable:
Total Loans												102,482	121,453	142,721
Ending balance: individually evaluated for impairment												261	212	177
Ending balance: collectively evaluated for impairment												102,221	121,241	142,544
Total Loans												102,482	121,453	142,721
Ending balance	$ 1,067				$ 1,235				$ 1,067	$ 1,235	$ 1,392
Ending balance: individually evaluated for impairment												261	212	177
Ending balance: collectively evaluated for impairment												$ 102,221	$ 121,241	$ 142,544

Loans, net and allowance for _6

Loans, net and allowance for loan losses - Allocation of Allowance for Loan Losses and Related Loans by Major Classification of Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Allowance for loan losses:
Ending balance	$ 22,677	$ 21,379	$ 18,960	$ 15,961
Ending balance: individually evaluated for impairment	777	1,179	766
Ending balance: collectively evaluated for impairment	21,900	20,200	18,194
Loans receivable:
Ending balance	1,938,240	1,823,266	1,693,065
Ending balance: individually evaluated for impairment	10,120	9,641	10,722
Ending balance: collectively evaluated for impairment	1,928,120	1,813,625	1,682,343
Commercial
Allowance for loan losses:
Ending balance	6,888	5,516	5,513	4,452
Ending balance: individually evaluated for impairment	363	50	159
Ending balance: collectively evaluated for impairment	6,525	5,466	5,354
Loans receivable:
Ending balance	522,957	494,134	476,199
Ending balance: individually evaluated for impairment	4,658	2,237	2,463
Ending balance: collectively evaluated for impairment	518,299	491,897	473,736
Real estate Commercial
Allowance for loan losses:
Ending balance	11,496	10,736	8,944	7,548
Ending balance: individually evaluated for impairment	279	403	263
Ending balance: collectively evaluated for impairment	11,217	10,333	8,681
Loans receivable:
Ending balance	1,011,423	907,803	786,210
Ending balance: individually evaluated for impairment	3,048	3,121	4,289
Ending balance: collectively evaluated for impairment	1,008,375	904,682	781,921
Consumer
Allowance for loan losses:
Ending balance	1,067	1,235	1,392	$ 1,000
Ending balance: individually evaluated for impairment		60	8
Ending balance: collectively evaluated for impairment	1,067	1,175	1,384
Loans receivable:
Ending balance	102,482	121,453	142,721
Ending balance: individually evaluated for impairment	261	212	177
Ending balance: collectively evaluated for impairment	$ 102,221	$ 121,241	$ 142,544

Loans, net and allowance for _7

Loans, net and allowance for loan losses - Major Classification of Loans Portfolio Summarized by Credit Quality (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Accounts, Notes, Loans and Financing Receivable
Loans	$ 1,938,240	$ 1,823,266	$ 1,693,065
Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	$ 522,957	494,134	476,199
Relationships encountering some financial difficulty | item	2
Increase (decrease) in special mention loans	$ 2,500
Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	1,011,423	907,803	786,210
Increase (decrease) in special mention loans	(5,100)
Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	301,378	299,876	287,935
Increase (decrease) in substandard loans	(1,100)
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	102,482	121,453	$ 142,721
Pass
Accounts, Notes, Loans and Financing Receivable
Loans	1,908,233	1,795,367
Pass | Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	513,994	491,531
Pass | Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	993,645	886,849
Pass | Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	298,449	295,758
Pass | Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	102,145	121,229
Special Mention
Accounts, Notes, Loans and Financing Receivable
Loans	6,942	10,160
Special Mention | Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	3,837	869
Special Mention | Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	2,508	8,934
Special Mention | Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	597	357
Substandard
Accounts, Notes, Loans and Financing Receivable
Loans	23,065	17,739
Substandard | Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	5,126	1,734
Substandard | Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	15,270	12,020
Substandard | Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	2,332	3,761
Substandard | Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	$ 337	$ 224

Loans, net and allowance for _8

Loans, net and allowance for loan losses - Information Concerning Nonaccrual Loans by Major Loan Classification (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Financing Receivable, Recorded Investment, Past Due
Nonaccrual loans, Total	$ 7,510	$ 6,231
Commercial
Financing Receivable, Recorded Investment, Past Due
Nonaccrual loans, Total	3,336	776
Real estate Commercial
Financing Receivable, Recorded Investment, Past Due
Nonaccrual loans, Total	2,765	2,663
Real estate Residential
Financing Receivable, Recorded Investment, Past Due
Nonaccrual loans, Total	1,148	2,580
Consumer
Financing Receivable, Recorded Investment, Past Due
Nonaccrual loans, Total	$ 261	$ 212

Loans, net and allowance for _9

Loans, net and allowance for loan losses - Major Classification of Loans by Past Due Status (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Financing Receivable, Recorded Investment, Past Due
Total Past Due	$ 12,801	$ 15,392
Current	1,925,439	1,807,874
Total Loans	1,938,240	1,823,266	$ 1,693,065
Loans > 90 Days and Accruing	$ 378	923
Number of commercial relationships placed on non-accrual status | item	1
Number of credits from one commercial relationship placed on non-accrual status | item	4
Loans placed on non-accrual status	$ 2,600
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	3,688	6,104
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,525	2,134
Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due
Total Past Due	7,588	7,154
Commercial
Financing Receivable, Recorded Investment, Past Due
Total Past Due	3,111	1,828
Current	519,846	492,306
Total Loans	522,957	494,134	476,199
Commercial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	75	973
Commercial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due		79
Commercial | Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due
Total Past Due	3,036	776
Real estate Commercial
Financing Receivable, Recorded Investment, Past Due
Total Past Due	3,866	4,843
Current	1,007,557	902,960
Total Loans	1,011,423	907,803	786,210
Loans > 90 Days and Accruing		73
Real estate Commercial | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	926	1,889
Real estate Commercial | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	175	218
Real estate Commercial | Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due
Total Past Due	2,765	2,736
Real estate Residential
Financing Receivable, Recorded Investment, Past Due
Total Past Due	4,917	7,461
Current	296,461	292,415
Total Loans	301,378	299,876	287,935
Loans > 90 Days and Accruing	378	850
Real estate Residential | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	2,164	2,486
Real estate Residential | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,227	1,545
Real estate Residential | Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due
Total Past Due	1,526	3,430
Consumer
Financing Receivable, Recorded Investment, Past Due
Total Past Due	907	1,260
Current	101,575	120,193
Total Loans	102,482	121,453	$ 142,721
Consumer | 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	523	756
Consumer | 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due
Total Past Due	123	292
Consumer | Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due
Total Past Due	$ 261	$ 212

Loans, net and allowance for_10

Loans, net and allowance for loan losses - Summarized Information in Concerning to Impaired Loans (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	$ 7,535	$ 5,653	$ 6,532
Unpaid Principal Balance, With no related allowance, Total	8,714	7,017	7,482
Average Recorded Investment, With no related allowance, Total	7,887	6,468	7,053
Interest Income Recognized, With no related allowance, Total	126	117	88
Recorded Investment, With an allowance recorded, Total	2,585	3,988	4,190
Unpaid Principal Balance, With an allowance recorded, Total	3,299	4,386	4,481
Related Allowance, With an allowance recorded, Total	777	1,179	766
Average Recorded Investment, With an allowance recorded, Total	3,490	4,288	4,548
Interest Income Recognized, With an allowance recorded, Total	71	70	91
Recorded Investment, Total	10,120	9,641	10,722
Unpaid Principal Balance, Total	12,013	11,403	11,963
Related Allowance, With an allowance recorded, Total	777	1,179	766
Average Recorded Investment, Total	11,377	10,756	11,601
Interest Income Recognized, Total	197	187	179
Commercial
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	3,638	1,562	1,279
Unpaid Principal Balance, With no related allowance, Total	4,175	1,900	1,439
Average Recorded Investment, With no related allowance, Total	3,907	1,318	1,668
Interest Income Recognized, With no related allowance, Total	63	67	43
Recorded Investment, With an allowance recorded, Total	1,020	675	1,184
Unpaid Principal Balance, With an allowance recorded, Total	1,038	675	1,218
Related Allowance, With an allowance recorded, Total	363	50	159
Average Recorded Investment, With an allowance recorded, Total	1,012	1,006	991
Interest Income Recognized, With an allowance recorded, Total	32	30	50
Recorded Investment, Total	4,658	2,237	2,463
Unpaid Principal Balance, Total	5,213	2,575	2,657
Related Allowance, With an allowance recorded, Total	363	50	159
Average Recorded Investment, Total	4,919	2,324	2,659
Interest Income Recognized, Total	95	97	93
Real estate Commercial
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	1,918	1,969	2,888
Unpaid Principal Balance, With no related allowance, Total	2,205	2,299	3,190
Average Recorded Investment, With no related allowance, Total	2,385	2,822	2,985
Interest Income Recognized, With no related allowance, Total	38	28	24
Recorded Investment, With an allowance recorded, Total	1,130	1,152	1,401
Unpaid Principal Balance, With an allowance recorded, Total	1,811	1,323	1,496
Related Allowance, With an allowance recorded, Total	279	403	263
Average Recorded Investment, With an allowance recorded, Total	1,050	1,676	2,202
Interest Income Recognized, With an allowance recorded, Total	10	18	18
Recorded Investment, Total	3,048	3,121	4,289
Unpaid Principal Balance, Total	4,016	3,622	4,686
Related Allowance, With an allowance recorded, Total	279	403	263
Average Recorded Investment, Total	3,435	4,498	5,187
Interest Income Recognized, Total	48	46	42
Real estate Residential
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	1,718	1,970	2,196
Unpaid Principal Balance, With no related allowance, Total	2,060	2,658	2,672
Average Recorded Investment, With no related allowance, Total	1,362	2,193	2,227
Interest Income Recognized, With no related allowance, Total	25	22	21
Recorded Investment, With an allowance recorded, Total	435	2,101	1,597
Unpaid Principal Balance, With an allowance recorded, Total	450	2,328	1,759
Related Allowance, With an allowance recorded, Total	135	666	336
Average Recorded Investment, With an allowance recorded, Total	1,408	1,585	1,335
Interest Income Recognized, With an allowance recorded, Total	29	22	23
Recorded Investment, Total	2,153	4,071	3,793
Unpaid Principal Balance, Total	2,510	4,986	4,431
Related Allowance, With an allowance recorded, Total	135	666	336
Average Recorded Investment, Total	2,770	3,778	3,562
Interest Income Recognized, Total	54	44	44
Consumer
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	261	152	169
Unpaid Principal Balance, With no related allowance, Total	274	160	181
Average Recorded Investment, With no related allowance, Total	233	135	173
Recorded Investment, With an allowance recorded, Total		60	8
Unpaid Principal Balance, With an allowance recorded, Total		60	8
Related Allowance, With an allowance recorded, Total		60	8
Average Recorded Investment, With an allowance recorded, Total	20	21	20
Recorded Investment, Total	261	212	177
Unpaid Principal Balance, Total	274	220	189
Related Allowance, With an allowance recorded, Total		60	8
Average Recorded Investment, Total	$ 253	$ 156	$ 193

Loans, net and allowance for_11

Loans, net and allowance for loan losses - Loans Modified Resulting in Troubled Debt Restructurings (Details)	12 Months Ended
	Dec. 31, 2019USD ($)loancontract	Dec. 31, 2018USD ($)loancontract	Dec. 31, 2017USD ($)loan	Dec. 31, 2017USD ($)contract	Dec. 31, 2017USD ($)
Loans in the formal process of foreclosure	$ 665,000	$ 1,823,000
Number of loans modified	1	1	6	6
Pre-Modification Outstanding Recorded Investment					$ 1,670,000
Post-Modification Outstanding Recorded Investment					1,670,000
Recorded Investment			$ 1,628,000	$ 1,628,000	1,628,000
Number of defaults on loans restructured	$ 0	$ 0			0
Loans receivable, related parties, considered as nonaccrual, past due or restructured or potential credit risk	$ 2,193,000	$ 2,779,000
Commercial
Number of loans modified | contract				2
Pre-Modification Outstanding Recorded Investment					885,000
Post-Modification Outstanding Recorded Investment					885,000
Recorded Investment			864,000	$ 864,000	864,000
Real estate Commercial
Number of loans modified | contract	1	1		3
Pre-Modification Outstanding Recorded Investment	$ 346,000	$ 340,000			721,000
Post-Modification Outstanding Recorded Investment	346,000	340,000			721,000
Recorded Investment	$ 241,000	$ 340,000	700,000	$ 700,000	700,000
Real estate Residential
Number of loans modified | contract				1
Pre-Modification Outstanding Recorded Investment					64,000
Post-Modification Outstanding Recorded Investment					64,000
Recorded Investment			$ 64,000	$ 64,000	$ 64,000

Off-balance sheet financial i_3

Off-balance sheet financial instruments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Off-balance sheet financial instruments.
Expiration period of standby letters	12 months
Amount of standby letters of credit	$ 31,893	$ 22,415

Off-balance sheet financial i_4

Off-balance sheet financial instruments - Summary of Contractual Amounts of Off-balance Sheet Commitments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Off-balance sheet financial instruments.
Commitments to extend credit	$ 290,517	$ 294,122
Unused portions of lines of credit	52,168	51,790
Standby letters of credit	45,018	33,275
Total contractual amounts of off-balance sheet commitments	$ 387,703	$ 379,187

Premises and equipment, net - S

Premises and equipment, net - Summary of Premises and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment
Premises and equipment, gross	$ 76,787	$ 65,160
Less: accumulated depreciation	28,855	26,271
Premises and equipment, net	47,932	38,889
Land
Property, Plant and Equipment
Premises and equipment, gross	5,535	5,535
Premises and leasehold improvements
Property, Plant and Equipment
Premises and equipment, gross	47,705	44,813
Right-Of-Use Assets
Property, Plant and Equipment
Premises and equipment, gross	6,125
Furniture, fixtures and equipment
Property, Plant and Equipment
Premises and equipment, gross	$ 17,422	$ 14,812

Operating lease commitments a_3

Operating lease commitments and contingencies (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Options to renew	true
Renewal term	5 years
Weighted-average discount rate	3.46%
Right-of-use assets	$ 6,125
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net
Lease liabilities for operating leases	$ 6,194
Operating Lease, Liability, Statement of Financial Position [Extensible List]	Other Liabilities
Lease payments	$ 578
Lease expense	249
Rent expense	$ 601
Rent expense		$ 492	$ 407
Minimum
Remaining renewal term	3 years
Discount rate	2.89%
Maximum
Remaining renewal term	22 years
Discount rate	3.85%

Operating lease commitments a_4

Operating lease commitments and contingencies - Summary of Future Minimum Rental Commitments Under Operating Leases (Details) $ in Thousands	Dec. 31, 2019USD ($)
Operating lease commitments and contingencies
2020	$ 597
2021	585
2022	589
2023	508
2024	435
Thereafter	5,513
Total payments	8,227
Less amount representing interest	(2,033)
Present value of future minimum lease payments	$ 6,194

Intangible assets, net - Additi

Intangible assets, net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Finite-Lived Intangible Assets
Gross carrying amount of intangible assets	$ 1,091	$ 1,091
Amortization of intangibles	730	881	$ 1,034
Core Deposit
Finite-Lived Intangible Assets
Gross carrying amount of intangible assets	8,146	8,146
Accumulated amortization on intangible assets	7,071	6,515
Trade Name
Finite-Lived Intangible Assets
Gross carrying amount of intangible assets	203	203
Accumulated amortization on intangible assets	168	149
Asset Management And Retirement Plan Services
Finite-Lived Intangible Assets
Accumulated amortization on intangible assets	$ 636	$ 480

Intangible assets, net - Summar

Intangible assets, net - Summary of Estimated Amortization Expense on Intangible Assets (Details) $ in Thousands	Dec. 31, 2019USD ($)
Intangible assets, net
2020	$ 606
2021	491
2022	363
2023	105
Total	$ 1,565

Other assets - Components of Ot

Other assets - Components of Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other real estate owned	$ 450	$ 376
Investment in low income housing partnership	6,901	7,377
Mortgage servicing rights	738	718
Bank owned life insurance	35,041	34,288
Restricted equity securities (FHLB and other)	10,201	7,462
Net deferred tax asset	3,362	5,081
Interest rate floor and swaps	5,672	661
Other assets	6,855	7,774
Total	69,220	63,737
Interest Rate Floor
Interest rate floor and swaps	944	553
Interest Rate Swaps
Interest rate floor and swaps	$ 4,728	$ 108

Other assets - Unpaid Principal

Other assets - Unpaid Principal Balances (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Other assets.
Unpaid principal balances of mortgage loans serviced for others	$ 159,587	$ 165,610

Deposits - Components of Intere

Deposits - Components of Interest-bearing and Noninterest-bearing Deposits (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deposits.
Money market accounts	$ 365,463	$ 328,949
Now accounts	402,999	421,414
Savings accounts	370,270	378,157
Time deposits less than $250	231,450	250,456
Time deposits $250 or more	138,069	85,786
Total interest-bearing deposits	1,508,251	1,464,762
Noninterest-bearing deposits	463,238	410,260
Total deposits	$ 1,971,489	$ 1,875,022

Deposits - Schedule of Maturiti

Deposits - Schedule of Maturities of Time Deposits (Details) $ in Thousands	Dec. 31, 2019USD ($)
Deposits.
2020	$ 264,824
2021	50,398
2022	13,775
2023	19,837
2024	13,997
Thereafter	6,688
Total	$ 369,519

Deposits - Additional Informati

Deposits - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deposits.
Aggregate amount of deposits reclassified as loans	$ 363	$ 343

Short-term borrowings - Additio

Short-term borrowings - Additional Information (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Short-term Debt
Maximum borrowing capacity	$ 18,000	$ 18,000
Outstanding amount in borrowings	0	$ 0
Peoples Bank
Short-term Debt
Maximum borrowing capacity	723,608
Outstanding amount in borrowings	184,883
Amount of credit facility used to issue standby letters of credit to collateralize public fund deposits	$ 185,750

Short-term borrowings - Summary

Short-term borrowings - Summary of Short-term Borrowings (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Short-term Debt
Ending Balance	$ 152,150	$ 86,500
FHLB advances
Short-term Debt
Ending Balance	152,150	86,500	$ 123,675
Average Balance	62,941	133,834	76,846
Maximum Month-End Balance	$ 152,150	$ 189,275	$ 123,675
Weighted Average Rate for	2.61%	2.05%	1.17%
Weighted Average Rate at	1.84%	2.62%	1.54%

Long-term debt - Long-term debt

Long-term debt - Long-term debt advances (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument
Long-term debt	$ 32,733	$ 37,906
Long-term 3.48% adjustable rate debt due December 2019
Debt Instrument
Long-term debt		3,000
Adjustable interest rate (as a percent)	3.48%
Long-term 3.37% adjustable rate debt due December 2019
Debt Instrument
Long-term debt		6,300
Adjustable interest rate (as a percent)	3.37%
Long-term 1.62% fixed rate debt due December 2019
Debt Instrument
Long-term debt		10,000
Fixed interest rate (as a percent)	1.62%
Long-term 1.74% fixed rate debt due June 2020
Debt Instrument
Long-term debt	$ 5,000	5,000
Fixed interest rate (as a percent)	1.74%
Long-term 2.22% fixed rate debt due June 2020
Debt Instrument
Long-term debt	$ 6,000
Fixed interest rate (as a percent)	2.22%
Long-term 1.84% fixed rate debt due December 2020
Debt Instrument
Long-term debt	$ 5,000	5,000
Fixed interest rate (as a percent)	1.84%
Long-term 1.99% fixed rate debt due June 2021
Debt Instrument
Long-term debt	$ 10,000
Fixed interest rate (as a percent)	1.99%
Long-term 4.69% fixed rate debt due March 2023
Debt Instrument
Long-term debt	$ 6,733	$ 8,606
Fixed interest rate (as a percent)	4.69%

Long-term debt - Maturities of

Long-term debt - Maturities of long-term debt (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Long-term debt.
2020	$ 17,963
2021	12,058
2022	2,157
2023	555
Total long-term debt	$ 32,733	$ 37,906

Long-term debt - Fixed and adju

Long-term debt - Fixed and adjustable rate information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)item	Dec. 31, 2018USD ($)
Debt Instrument
Number of FHLB advances entered | item	2
FHLB long-term advances | $	$ 16,000	$ 0
FHLB advance one
Debt Instrument
FHLB advances term	1 year
FHLB advance two
Debt Instrument
FHLB advances term	2 years

Fair value of financial instr_3

Fair value of financial instruments - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	$ 331,893	$ 270,496
U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	24,128	25,592
U.S. government-sponsored enterprises state and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	87,110	92,818
State and Municipals, Taxable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	34,898	13,853
State and Municipals, Tax-exempt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	60,163	85,954
Mortgage-backed Securities, U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	8,470	12,629
Mortgage-backed Securities, U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	115,709	38,836
Common equity securities.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	423	291
Interest rate floor - other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	944	553
Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	4,728	108
Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value	(4,680)	(138)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	24,551	25,883
Level 1 | U.S. Treasuries
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	24,128	25,592
Level 1 | Common equity securities.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	423	291
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	307,342	244,613
Level 2 | U.S. government-sponsored enterprises state and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	87,110	92,818
Level 2 | State and Municipals, Taxable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	34,898	13,853
Level 2 | State and Municipals, Tax-exempt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	60,163	85,954
Level 2 | Mortgage-backed Securities, U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	8,470	12,629
Level 2 | Mortgage-backed Securities, U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	115,709	38,836
Level 2 | Interest rate floor - other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	944	553
Level 2 | Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	4,728	108
Level 2 | Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value	$ (4,680)	(138)
Level 3 | Common equity securities.
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate
Level 3 | Interest rate floor - other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate
Level 3 | Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate
Level 3 | Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value

Fair value of financial instr_4

Fair value of financial instruments - Schedule of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring Basis - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 1,808	$ 2,809
Other real estate owned	283	234
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	1,808	2,809
Other real estate owned	$ 283	$ 234

Fair value of financial instr_5

Fair value of financial instruments - Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring Basis - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Other real estate owned
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	43.70%	38.90%
Range and weighted average of liquidation expenses	5.00%	5.00%
Other real estate owned | Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	20.00%	26.00%
Range and weighted average of liquidation expenses	3.00%	3.00%
Other real estate owned | Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	63.60%	73.30%
Range and weighted average of liquidation expenses	6.00%	6.00%
Impaired loans
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	54.40%	61.80%
Range and weighted average of liquidation expenses	5.20%	4.40%
Impaired loans | Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	8.60%	7.10%
Range and weighted average of liquidation expenses	3.00%	3.00%
Impaired loans | Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	97.00%	97.00%
Range and weighted average of liquidation expenses	6.00%	6.00%
Level 3 | Other real estate owned
Fair Value Inputs, Assets, Quantitative Information
Assets, Fair Value Estimate	$ 283	$ 234
Level 3 | Impaired loans
Fair Value Inputs, Assets, Quantitative Information
Assets, Fair Value Estimate	$ 1,808	$ 2,809

Fair value of financial instr_6

Fair value of financial instruments - Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Investment securities:
Available-for-sale	$ 330,478	$ 269,682
Common equity securities	423	291
Held-to-maturity	7,889	8,380
Loans held for sale	986	749
Mortgage servicing rights	738	718
Other assets	69,220	63,737
Carrying Value
Financial assets:
Cash and cash equivalents	31,153	32,616
Investment securities:
Available-for-sale	330,478	269,682
Common equity securities	423	291
Held-to-maturity	7,656	8,361
Loans held for sale	986	749
Net loans	1,915,563	1,801,887
Accrued interest receivable	6,981	7,115
Mortgage servicing rights	738	718
Restricted equity securities (FHLB and other)	10,201	7,462
Interest rate floor	944	553
Interest rate swaps	4,728	108
Total assets	2,309,851	2,129,542
Financial liabilities:
Deposits	1,971,489	1,875,022
Short-term borrowings		86,500
Long-term debt	32,733	37,906
Accrued interest payable	1,277	1,195
Interest rate swap	4,680	138
Total liabilities	2,010,179	2,000,761
Fair Value
Financial assets:
Cash and cash equivalents	31,153	32,616
Investment securities:
Available-for-sale	330,478	269,682
Common equity securities	423	291
Held-to-maturity	7,889	8,380
Loans held for sale	986	749
Net loans	1,881,658	1,762,449
Accrued interest receivable	6,981	7,115
Mortgage servicing rights	1,444	1,710
Restricted equity securities (FHLB and other)	10,201	7,462
Interest rate floor	944	553
Interest rate swaps	4,728	108
Total assets	2,276,885	2,091,115
Financial liabilities:
Deposits	1,972,084	1,874,520
Short-term borrowings		86,500
Long-term debt	33,075	38,071
Accrued interest payable	1,277	1,195
Interest rate swap	4,680	138
Total liabilities	2,011,116	2,000,424
Level 1
Financial assets:
Cash and cash equivalents	31,153	32,616
Investment securities:
Available-for-sale	24,128	25,952
Common equity securities	423	291
Level 2
Investment securities:
Available-for-sale	306,350	244,090
Held-to-maturity	7,889	8,380
Loans held for sale	986	749
Accrued interest receivable	6,981	7,115
Mortgage servicing rights	1,444	1,710
Restricted equity securities (FHLB and other)	10,201	7,462
Interest rate floor	944	553
Interest rate swaps	4,728	108
Financial liabilities:
Deposits	1,972,084	1,874,520
Short-term borrowings		86,500
Long-term debt	33,075	38,071
Accrued interest payable	1,277	1,195
Interest rate swap	4,680	138
Level 3
Investment securities:
Net loans	$ 1,881,658	$ 1,762,449

Derivatives and hedging activ_3

Derivatives and hedging activities - Fair Values of Derivative Instruments on the Balance Sheet (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)security	Dec. 31, 2018USD ($)
Derivatives, Fair Value
Asset Derivatives		$ 5,672	$ 661
Liability Derivatives		4,680	138
Interest Receivable		6,981	7,115
Interest Payable		1,277	1,195
Interest income
Derivatives, Fair Value
Amount of gain or (loss) reclassified as a reduction to interest income		42	13
Interest Rate Floor
Derivatives, Fair Value
Asset Derivatives		$ 944	553
Interest Rate Swaps
Derivatives, Fair Value
Number of instruments held | security		30
Asset Derivatives		$ 4,728	108
Derivatives designated as hedging instruments
Derivatives, Fair Value
Asset Derivatives		944	553
Derivatives designated as hedging instruments | Interest Rate Floor
Derivatives, Fair Value
Notional amount		25,000
Asset Derivatives			553
Derivatives designated as hedging instruments | Interest Rate Floor | Other Assets.
Derivatives, Fair Value
Asset Derivatives		944
Derivatives not designated as hedging instruments
Derivatives, Fair Value
Asset Derivatives		4,728	108
Liability Derivatives		4,680	138
Derivatives not designated as hedging instruments | Interest Rate Swaps
Derivatives, Fair Value
Notional amount		172,096
Interest Receivable			55
Interest Payable			55
Derivatives not designated as hedging instruments | Interest Rate Swaps | Other Assets.
Derivatives, Fair Value
Asset Derivatives		4,728	108
Derivatives not designated as hedging instruments | Interest Rate Swaps | Other Liabilities.
Derivatives, Fair Value
Liability Derivatives		$ 4,680	$ 138
Forecast | Cash Flow Hedge | Interest Rate Floor | Interest income
Derivatives, Fair Value
Amount of gain or (loss) reclassified as a reduction to interest income	$ 64

Derivatives and hedging activ_4

Derivatives and hedging activities - Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain Recognized in OCI Included Component		$ 246
Amount of Gain Recognized in OCI Included Component	$ 441
Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from Accumulated OCI into Income	26	(3)
Cash Flow Hedge | Interest Rate Floor | Interest income
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Recognized in OCI on Derivative	192	243
Amount of Gain Recognized in OCI Included Component		109
Amount of Gain Recognized in OCI Included Component	196
Amount of Gain Recognized in OCI Excluded Component	(4)	134
Amount of Loss Reclassified from Accumulated OCI into Income	26	(3)
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI on Derivatives, before Tax		13
Amount of Gain Reclassified from Accumulated OCI into Income Included Component	42
Amount of Loss Reclassified from Accumulated OCI into Income Excluded Component	$ (16)	$ (16)

Derivatives and hedging activ_5

Derivatives and hedging activities - Effect of Fair Value and Cash Flow Hedge Accounting on the Income Statement (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss)
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded	$ 687
Interest income
Derivative Instruments, Gain (Loss)
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded	26
Total amounts of income and expense line items presented in the statements of income and comprehensive income in which the effects of fair value or cash flow hedges are recorded		$ (3)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	26	(3)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component	42	13
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component	$ (16)	$ 16

Derivatives and hedging activ_6

Derivatives and hedging activities - Effect of Other Derivative Instruments on the Income Statement (Details) - Derivatives not designated as hedging instruments - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Interest Rate Swaps | Other non-interest income
Derivative Instruments, Gain (Loss)
Amount of Gain Recognized in Income	$ 36	$ 49
Fee Income | Other income/(expense)
Derivative Instruments, Gain (Loss)
Amount of Gain Recognized in Income	$ 36	$ 53

Derivatives and hedging activ_7

Derivatives and hedging activities - Offsetting Derivatives (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	$ 5,672	$ 661
Net Amounts of Assets presented in the Balance Sheet	5,672	661
Net Amount	5,672	661
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities	4,680	138
Net Amounts of Assets presented in the Balance Sheet	4,680	138
Net Amount	$ 4,680	$ 138

Derivatives and hedging activ_8

Derivatives and hedging activities - Credit-risk-related Contingent Features (Details) $ in Thousands	Dec. 31, 2019USD ($)
Derivatives and hedging activities
Termination value of derivatives in a net liability position	$ 48

Stock plans - Additional Inform

Stock plans - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units awarded		2,548
Unrecognized compensation expense		$ 92
2008 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units awarded	673
Number of nonvested restricted stock awards	6,379
Forfeited shares	763
Share based compensation expense	$ 122	123	$ 156
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Common stock available for grant as awards	72,535
Forfeited shares	306
Share based compensation expense	$ 433	$ 149	$ 21
Non-Performance-based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units vesting period		3 years
Non-Performance-based restricted stock | 2008 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units awarded		2,548
Vested shares	2,493
Non-Performance-based restricted stock | 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units awarded	3,855	2,140
Vested shares	114
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units vesting period		3 years
Cumulative diluted earnings per share period used for conditions for vesting of performance-based restricted stock units		3 years
Average return on equity period used for conditions for vesting of performance-based restricted stock units		3 years
Performance-based restricted stock units | 2008 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of nonvested restricted stock awards		8,920
Performance-based restricted stock units | 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Number of nonvested restricted stock awards	13,490	928
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted shares	17,345	11,468	10,628
Vested shares	10,120	2,607	10,542
Number of nonvested restricted stock awards	27,465	21,309	12,448	12,362
Forfeited shares	1,069
Shares or units cliff vesting period		5 years
Unrecognized compensation expense	$ 486
Weighted average vesting period	1 year 9 months 18 days

Stock plans - Schedule of Activ

Stock plans - Schedule of Activity Related to Restricted Stock (Details) - Restricted Stock - shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award
Nonvested, January 1	21,309	12,448	12,362
Granted shares	17,345	11,468	10,628
Vested shares	10,120	2,607	10,542
Forfeited shares	1,069
Nonvested, December 31	27,465	21,309	12,448

Employee benefit plans - Salari

Employee benefit plans - Salaries and Employee Benefits Expense - ESOP (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Peoples Security Bank and Trust ESOP
Peoples Security Bank and Trust ESOP
Contribution to ESOP	$ 357	$ 197	$ 185

Employee benefit plans - Sala_2

Employee benefit plans - Salaries and Employee Benefits Expense - Profit Sharing (Details) - Retirement Profit Sharing Plan - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Profit Sharing plan
Company contribution	$ 1,047	$ 1,047	$ 923
Safe harbor contribution	627	578	509
Discretionary contributions	$ 512	$ 469	$ 414

Employee benefit plans - Sala_3

Employee benefit plans - Salaries and Employee Benefits Expense - SERP and Employee Pension Plan (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jun. 22, 2008
Supplemental Executive Retirement Plans (“SERP”)
Defined Benefit Plan Disclosure
Maximum annual benefit in excess of federal limits (as a percent)	6.00%
Employee benefit plan liability	$ 133	$ 116
Employee benefit plan expense	17	20	$ 20
Defined benefit plan accrued liabilities	2,077	1,845
Salaries and employee benefits expense	$ 360	335	$ 314
Pension Benefits
Defined Benefit Plan Disclosure
Retirement age period for fixed benefits payable	65 years
Benefits accrued under employees' pension plan				$ 0
Increase (decrease) in accumulated benefit obligation	$ 1,221	$ (546)

Employee benefit plans - Summar

Employee benefit plans - Summary of Pension and Postretirement Life Insurance Plans (Details) - Pension Benefits - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Change in benefit obligation:
Benefit obligation, beginning	$ 16,338	$ 16,935
Interest cost	639	623	$ 650
Change in experience gain	96	135
Change in actuarial assumptions loss (gain)	1,221	(546)
Benefits paid	(803)	(809)
Benefit obligation, ending	17,491	16,338	16,935
Change in plan assets:
Fair value of plan assets, beginning	14,919	13,264
Actual return on plan assets	2,814	(236)
Employer contributions		2,700
Benefits paid	(803)	(809)
Fair value of plan assets, ending	16,930	14,919	$ 13,264
Funded status at end of year	$ (561)	$ (1,419)

Employee benefit plans - Schedu

Employee benefit plans - Schedule of Amounts Recognized in Accumulated Other Comprehensive Income (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Amounts recognized in the accumulated other comprehensive loss consist of:
Net amount recognized	$ 5,197	$ 5,702
Pension Benefits
Defined Benefit Plan Disclosure
Liabilities	561	1,419
Amounts recognized in the accumulated other comprehensive loss consist of:
Net actuarial gain	(6,579)	(7,218)
Deferred taxes	1,382	1,516
Net amount recognized	$ (5,197)	$ (5,702)

Employee benefit plans - Compon

Employee benefit plans - Components of Net Periodic Pension Expense (Income) and Other Amounts Recognized in Other Comprehensive Income (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net loss (gain)	$ 6,579	$ 7,218
Pension Benefits
Net periodic pension cost:
Interest cost	639	623	$ 650
Expected return on plan assets	(1,084)	(960)	(915)
Amortization of unrecognized net gain	227	194	195
Net periodic benefit cost	(218)	(143)	(70)
Changes in plan assets and benefit obligations recognized in other comprehensive income (loss):
Net loss (gain)	639	(590)	318
Deferred tax	(134)	124	(67)
Total recognized in other comprehensive loss	505	(466)	251
Total recognized in net period pension cost and other comprehensive loss	287	$ (609)	$ 181
Estimated net loss for defined benefit pension plan that will be amortized from accumulated other comprehensive loss into net periodic benefit cost over next fiscal year	$ 201

Employee benefit plans - Sche_2

Employee benefit plans - Schedule of Weighted-Average Assumptions Used to Determine Benefit Obligations and Related Expenses (Details) - Pension Benefits	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure
Discount rate, Obligation	3.25%	4.00%	3.75%
Discount rate, Expense	4.00%	3.75%	4.00%
Expected long-term return on plan assets	7.50%	7.50%	7.50%

Employee benefit plans - Sche_3

Employee benefit plans - Schedule of Pension Plan Weighted-Average Asset Allocations (Details) - Pension Benefits	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure
Weighted-average asset allocations	100.00%	100.00%
Cash and cash equivalents
Defined Benefit Plan Disclosure
Weighted-average asset allocations	6.20%	5.00%
Equity securities
Defined Benefit Plan Disclosure
Weighted-average asset allocations	61.90%	56.20%
Corporate bonds
Defined Benefit Plan Disclosure
Weighted-average asset allocations	20.60%	23.60%
U.S. Treasuries and Government agencies
Defined Benefit Plan Disclosure
Weighted-average asset allocations	11.30%	15.20%

Employee benefit plans - Fair V

Employee benefit plans - Fair Value Measurement of Pension Plan Assets (Details) - Pension Benefits - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure
Fair value of pension plan assets	$ 16,930	$ 14,919	$ 13,264
Cash
Defined Benefit Plan Disclosure
Fair value of pension plan assets	1,053	743
U.S. large cap
Defined Benefit Plan Disclosure
Fair value of pension plan assets	9,663	7,687
International
Defined Benefit Plan Disclosure
Fair value of pension plan assets	817	694
U.S. Treasuries
Defined Benefit Plan Disclosure
Fair value of pension plan assets	202	192
U.S. Government agencies
Defined Benefit Plan Disclosure
Fair value of pension plan assets	1,713	2,085
Corporate bonds
Defined Benefit Plan Disclosure
Fair value of pension plan assets	3,482	3,518
Level 1
Defined Benefit Plan Disclosure
Fair value of pension plan assets	11,533	9,124
Level 1 | Cash
Defined Benefit Plan Disclosure
Fair value of pension plan assets	1,053	743
Level 1 | U.S. large cap
Defined Benefit Plan Disclosure
Fair value of pension plan assets	9,663	7,687
Level 1 | International
Defined Benefit Plan Disclosure
Fair value of pension plan assets	817	694
Level 2
Defined Benefit Plan Disclosure
Fair value of pension plan assets	5,397	5,795
Level 2 | U.S. Treasuries
Defined Benefit Plan Disclosure
Fair value of pension plan assets	202	192
Level 2 | U.S. Government agencies
Defined Benefit Plan Disclosure
Fair value of pension plan assets	1,713	2,085
Level 2 | Corporate bonds
Defined Benefit Plan Disclosure
Fair value of pension plan assets	$ 3,482	$ 3,518

Employee benefit plans - Sala_4

Employee benefit plans - Salaries and Employee Benefits Expense - Investment Percentages (Details) - Pension Benefits - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Defined Benefit Plan Disclosure
Amount of company's common stock included in equity securities	$ 0	$ 0
Industry sector | Maximum
Defined Benefit Plan Disclosure
Maximum diversification (as a percent)	20.00%
Common equity securities.
Defined Benefit Plan Disclosure
Maximum diversification (as a percent)	10.00%
Cash equivalents
Defined Benefit Plan Disclosure
Defined benefit plan, target allocation (as a percent)	10.00%
Fixed income
Defined Benefit Plan Disclosure
Defined benefit plan, target allocation (as a percent)	40.00%
Equities
Defined Benefit Plan Disclosure
Defined benefit plan, target allocation (as a percent)	50.00%

Employee benefit plans - Sche_4

Employee benefit plans - Schedule of Benefit Payments Expected to be Paid (Details) - Pension Benefits $ in Thousands	Dec. 31, 2019USD ($)
Defined Benefit Plan Disclosure
2020	$ 867
2021	867
2022	904
2023	919
2024	969
Thereafter	$ 5,071

Income taxes - Current and Defe

Income taxes - Current and Deferred Amounts of Provision for Income Taxes Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Current									$ 2,761	$ 4,072	$ 6,515
Deferred									394	(681)	1,665
Total income tax expense (benefit)	$ 446	$ 991	$ 957	$ 761	$ 904	$ 902	$ 811	$ 774	3,155	3,391	8,180
Peoples Bank
Total income tax expense (benefit)									$ (1)	$ (27)	$ (54)

Income taxes - Components of Ne

Income taxes - Components of Net Deferred Tax Asset (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Deferred tax assets:
Allowance for loan losses	$ 4,762	$ 4,490
Lease liability	1,301
Defined benefit plan	815	1,516
Deferred compensation	682	593
Deferred loan fees	525	470
Investment securities available-for-sale		683
Other	137	116
Total	8,222	7,868
Deferred tax liabilities:
Lease right-of-use assets	1,286
Premises and equipment, net	1,350	985
Merger related accounting	850	1,083
Deferred loan costs	716	626
Investment securities available-for-sale	416
Other	242	93
Total	4,860	2,787
Net deferred tax asset	$ 3,362	$ 5,081

Income taxes (Details)

Income taxes (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income taxes
Federal statutory rate	21.00%	21.00%	35.00%

Income taxes - Reconciliation o

Income taxes - Reconciliation of Effective Income Tax Expense (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Federal income tax at statutory rate									$ 6,067	$ 5,945	$ 9,323
Effect of federal income tax rate changes											2,623
Tax exempt interest									(1,299)	(1,320)	(2,157)
Bank owned life insurance income									(159)	(236)	(269)
Residential housing program tax credits									(1,094)	(1,094)	(1,095)
Other, net									(360)	96	(245)
Total income tax expense (benefit)	$ 446	$ 991	$ 957	$ 761	$ 904	$ 902	$ 811	$ 774	$ 3,155	$ 3,391	$ 8,180
Federal income tax at statutory rate									21.00%	21.00%	35.00%
Effect of federal income tax rate change (note 1)											0.0985
Tax exempt interest									(4.50%)	(4.66%)	(8.10%)
Bank owned life insurance income									(0.55%)	(0.83%)	(1.01%)
Residential housing program tax credits									(3.79%)	(3.87%)	(4.11%)
Other, net									(1.25%)	0.34%	(0.92%)
Total									10.91%	11.98%	30.71%
Peoples Bank
Total income tax expense (benefit)									$ (1)	$ (27)	$ (54)

Parent Company financial stat_3

Parent Company financial statements - Condensed Balance Sheets (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Assets:
Cash and cash equivalents	$ 31,153	$ 32,616
Investment securities available-for-sale	330,478	269,682
Other assets	69,220	63,737
Total assets	2,475,327	2,288,993
Liabilities and Stockholders' Equity:
Other liabilities	18,668	9,756
Stockholders' equity	299,010	278,614	$ 264,976	$ 256,618
Total liabilities and stockholders’ equity	2,475,327	2,288,993
Peoples Bank
Assets:
Cash and cash equivalents	5,192	3,736	$ 3,932	$ 3,948
Investment securities available-for-sale	423	291
Investment in bank subsidiary	293,415	272,617
Due from subsidiaries		1,974
Other assets	19	35
Total assets	299,049	278,653
Liabilities and Stockholders' Equity:
Other liabilities	39	39
Stockholders' equity	299,010	278,614
Total liabilities and stockholders’ equity	$ 299,049	$ 278,653

Parent Company financial stat_4

Parent Company financial statements - Condensed Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Interest income:
Dividends from subsidiaries									$ 84	$ 72	$ 52
Unrealized holding gains on equity securities									132	14
Expense:
Income before income taxes	$ 5,478	$ 8,139	$ 8,101	$ 7,173	$ 7,296	$ 7,619	$ 6,768	$ 6,628
Income tax expense	446	991	957	761	904	902	811	774	3,155	3,391	8,180
Net income	$ 5,032	$ 7,148	$ 7,144	$ 6,412	$ 6,392	$ 6,717	$ 5,957	$ 5,854	25,736	24,920	18,457
Comprehensive Income									30,607	23,648	17,500
Peoples Bank
Interest income:
Dividends from subsidiaries									10,131	9,691	9,319
Other income									8	72	52
Unrealized holding gains on equity securities									132	13
Total income									10,271	9,776	9,371
Expense:
Other expenses									145	214	205
Total expenses									145	214	205
Income before income taxes									10,126	9,562	9,166
Income tax expense									(1)	(27)	(54)
Income before undistributed income of subsidiaries									10,127	9,589	9,220
Equity in undistributed net income of subsidiaries									15,609	15,331	9,237
Net income									25,736	24,920	18,457
Comprehensive Income									$ 30,607	$ 23,523	$ 17,500

Parent Company financial stat_5

Parent Company financial statements - Condensed Statements of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities:
Net income	$ 5,032	$ 7,148	$ 7,144	$ 6,412	$ 6,392	$ 6,717	$ 5,957	$ 5,854	$ 25,736	$ 24,920	$ 18,457
Adjustments:
Decrease in other assets									(3,363)	816	2,023
Decrease in other liabilities									2,389	(1,736)	(1,817)
Stock based compensation									554	272	177
Net cash provided by operating activities									37,079	32,626	28,593
Cash flows from investing activities:
Purchase of equity securities									(2,739)	1,100	(1,511)
Net cash used in investing activities									(184,721)	(134,806)	(184,563)
Cash flows from financing activities:
Redemption of common stock									(634)
Net cash provided by financing activities									146,179	97,308	153,517
Increase (decrease) in cash									(1,463)	(4,872)	(2,453)
Cash and cash equivalents at beginning of period				32,616					32,616
Cash and cash equivalents at end of period	31,153				32,616				31,153	32,616
Peoples Bank
Cash flows from operating activities:
Net income									25,736	24,920	18,457
Adjustments:
Net gains on investment securities									(132)	(14)
Undistributed net income of subsidiaries	(15,609)				(15,331)				(15,609)	(15,331)	(9,237)
Decrease in other assets									(310)	(111)	(3)
Decrease in other liabilities										(10)	(53)
Stock based compensation									554	272	177
Increase in due from subsidiaries									1,974
Net cash provided by operating activities									12,213	9,726	9,341
Cash flows from investing activities:
Purchase of equity securities										(234)	(43)
Cash flows from financing activities:
Stock awards									8	5	5
Purchase of treasury stock									(634)
Cash dividends paid									(10,131)	(9,693)	(9,319)
Net cash provided by financing activities									(10,757)	(9,688)	(9,314)
Increase (decrease) in cash									1,456	(196)	(16)
Cash and cash equivalents at beginning of period				$ 3,736				$ 3,932	3,736	3,932	3,948
Cash and cash equivalents at end of period	$ 5,192				$ 3,736				$ 5,192	$ 3,736	$ 3,932

Regulatory matters - Additional

Regulatory matters - Additional Information (Details) - USD ($)	Jan. 01, 2016	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Schedule of Capitalization
Capital stock (as a percent)		100.00%
Period over which the Company may only declare and pay dividends out of accumulated net earnings, including accumulated net earnings acquired as a result of a merger		7 years
Funds available for transfers		$ 25,530,000
Loans outstanding		$ 0	$ 0
Phase in period for capital conservation buffer	4 years
Capital conservation buffer	2.50%	2.50%	1.875%	1.25%
Maximum
Schedule of Capitalization
Net earnings which must set aside as a surplus (as a percent)		10.00%
Capital conservation buffer					0.625%
Minimum
Schedule of Capitalization
Net earnings to surplus funds (as a percent)		10.00%

Regulatory matters - Schedule o

Regulatory matters - Schedule of Bank's Capital Amounts and Ratios (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Consolidated
Common equity Tier 1 capital to risk-weighted assets
Common equity Tier 1 capital to risk-weighted assets, Actual Amount	$ 237,280	$ 221,024
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio	11.90%	11.95%
Common equity Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Amount	$ 89,717	$ 83,241
Common equity Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	4.50%	4.50%
Tier 1 capital to risk-weighted assets
Tier 1 capital to risk-weighted assets, Actual Amount	$ 237,280	$ 221,024
Tier 1 capital to risk-weighted assets, Actual Ratio	11.90%	11.95%
Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Amount	$ 119,623	$ 110,988
Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	6.00%	6.00%
Total capital to risk-weighted assets
Total capital to risk-weighted assets, Actual Amount	$ 259,957	$ 242,403
Total capital to risk-weighted assets, Actual Ratio	13.04%	13.10%
Total capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Amount	$ 159,497	$ 147,984
Total capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	8.00%	8.00%
Tier 1 capital to average assets
Tier 1 capital to average assets, Actual Amount	$ 237,280	$ 221,024
Tier 1 capital to average assets, Actual Ratio	10.14%	10.03%
Tier 1 capital to average assets, Minimum For Capital Adequacy Purposes Amount	$ 93,633	$ 88,119
Tier 1 capital to average assets, Minimum For Capital Adequacy Purposes Ratio	4.00%	4.00%
Peoples Bank
Common equity Tier 1 capital to risk-weighted assets
Common equity Tier 1 capital to risk-weighted assets, Actual Amount	$ 231,685	$ 215,027
Common equity Tier 1 capital to risk-weighted assets, Actual Ratio	11.64%	11.64%
Common equity Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Amount	$ 89,576	$ 83,144
Common equity Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	4.50%	4.50%
Common equity Tier 1 capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 129,387	$ 120,097
Common equity Tier 1 capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	6.50%	6.50%
Tier 1 capital to risk-weighted assets
Tier 1 capital to risk-weighted assets, Actual Amount	$ 231,685	$ 215,027
Tier 1 capital to risk-weighted assets, Actual Ratio	11.64%	11.64%
Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Amount	$ 119,434	$ 110,859
Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	6.00%	6.00%
Tier 1 capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 159,246	$ 147,811
Tier 1 capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	8.00%	8.00%
Total capital to risk-weighted assets
Total capital to risk-weighted assets, Actual Amount	$ 254,362	$ 236,406
Total capital to risk-weighted assets, Actual Ratio	12.78%	12.80%
Total capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Amount	$ 159,246	$ 147,811
Total capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	8.00%	8.00%
Total capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 199,057	$ 184,764
Total capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	10.00%	10.00%
Tier 1 capital to average assets
Tier 1 capital to average assets, Actual Amount	$ 231,685	$ 215,027
Tier 1 capital to average assets, Actual Ratio	9.91%	9.78%
Tier 1 capital to average assets, Minimum For Capital Adequacy Purposes Amount	$ 93,508	$ 87,969
Tier 1 capital to average assets, Minimum For Capital Adequacy Purposes Ratio	4.00%	4.00%
Tier 1 capital to average assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Amount	$ 116,884	$ 109,962
Tier 1 capital to average assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	5.00%	5.00%

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Accumulated Other Comprehensive Loss
Net unrealized gain (loss) on investment securities available-for-sale	$ 1,835	$ (3,251)
Income tax	385
Income tax		(683)
Net of income taxes	1,450
Net of income taxes		(2,568)
Benefit plan adjustments	(6,579)	(7,218)
Income tax	(1,382)	(1,516)
Net of income taxes	(5,197)	(5,702)
Income tax	144
Net of income taxes	543
Derivative adjustments		246
Income tax		52
Net of income taxes		194
Accumulated other comprehensive loss	$ (3,205)	$ (8,076)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Loss - Other Comprehensive Loss and Related Tax Effects (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Loss
Unrealized loss on investment securities available-for-sale	$ 5,109	$ (2,014)	$ (1,790)
Net gain on the sale of investment securities available-for-sale	(23)
Amortization of actuarial loss (2)	227	194	195
Actuarial gain (loss)	412	(785)	123
Change in benefit plan liabilities	639	(591)	318
Net change in derivatives		246
Net change in derivatives	441
Other comprehensive loss	6,166	(2,359)	(1,472)
Income tax	1,295	(496)	(515)
Other comprehensive loss	$ 4,871	$ (1,863)	$ (957)

Summary of quarterly financia_3

Summary of quarterly financial information - Summary of Quarterly Financial Information (unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Selected Quarterly Financial Information [Abstract]
Interest income	$ 23,616	$ 23,632	$ 23,332	$ 22,801	$ 22,482	$ 21,419	$ 20,766	$ 19,994	$ 93,381	$ 84,661	$ 74,242
Interest expense	4,364	4,396	4,604	4,504	3,934	3,466	3,115	2,807	17,868	13,322	8,698
Net interest income	19,252	19,236	18,728	18,297	18,548	17,953	17,651	17,187	75,513	71,339	65,544
Provision for loan losses	4,000	700	350	1,050	1,050	1,050	1,050	1,050	6,100	4,200	4,800
Net interest income after provision for loan losses	15,252	18,536	18,378	17,247	17,498	16,903	16,601	16,137	69,413	67,139	60,744
Noninterest income	3,870	3,682	4,152	3,416	3,171	3,253	3,663	3,572	15,120	13,659	17,186
Noninterest expense	13,644	14,079	14,429	13,490	13,373	12,537	13,496	13,081	55,642	52,487	51,293
Income before income taxes	5,478	8,139	8,101	7,173	7,296	7,619	6,768	6,628
Income tax expense	446	991	957	761	904	902	811	774	3,155	3,391	8,180
Net income	$ 5,032	$ 7,148	$ 7,144	$ 6,412	$ 6,392	$ 6,717	$ 5,957	$ 5,854	$ 25,736	$ 24,920	$ 18,457
Per share data:
Net income	$ 0.68	$ 0.97	$ 0.96	$ 0.87	$ 0.86	$ 0.91	$ 0.81	$ 0.79
Cash dividends declared	$ 0.35	$ 0.34	$ 0.34	$ 0.34	$ 0.33	$ 0.33	$ 0.33	$ 0.32	$ 0.35	$ 0.33
Average common shares outstanding	7,388,488	7,394,992	7,399,302	7,399,054	7,399,054	7,399,054	7,396,533	7,396,505