Peoples Financial Services (PFIS) 10-Q8 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Sep. 30, 2022	Nov. 01, 2022
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Entity File Number	001-36388
Entity Registrant Name	PEOPLES FINANCIAL SERVICES CORP.
Entity Incorporation, State or Country Code	PA
Entity Tax Identification Number	23-2391852
Entity Address, Address Line One	150 North Washington Avenue
Entity Address, City or Town	Scranton
Entity Address, State or Province	PA
Entity Address, Postal Zip Code	18503
City Area Code	570
Local Phone Number	346-7741
Title of 12(b) Security	Common stock, $2.00 par value
Trading Symbol	PFIS
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		7,160,198
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001056943
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Cash and cash equivalents
Cash and due from banks	$ 35,000	$ 30,415
Interest-bearing deposits in other banks	8,410	7,093
Federal funds sold	69,600	242,425
Total cash and cash equivalents	113,010	279,933
Investment securities:
Available-for-sale	477,590	517,321
Equity investments carried at fair value	103	140
Held-to-maturity: Fair value September 30, 2022, $78,512; December 31, 2021, $70,446	92,771	71,213
Total investment securities	570,464	588,674
Loans	2,623,706	2,329,173
Less: allowance for loan losses	29,822	28,383
Net loans	2,593,884	2,300,790
Loans held for sale	653	408
Premises and equipment, net	54,394	51,502
Accrued interest receivable	10,082	8,528
Goodwill	63,370	63,370
Intangible assets, net	179	468
Bank owned life insurance	48,235	42,754
Other assets	62,535	33,056
Total assets	3,516,806	3,369,483
Deposits:
Noninterest-bearing	769,935	737,756
Interest-bearing	2,354,205	2,225,641
Total deposits	3,124,140	2,963,397
Short-term borrowings	14,700	0
Long-term debt	1,104	2,711
Subordinated debentures	33,000	33,000
Accrued interest payable	1,129	408
Other liabilities	40,923	29,841
Total liabilities	3,214,996	3,029,357
Stockholders' equity:
Common stock, par value $2.00, authorized 25,000,000 shares, issued and outstanding 7,162,750 shares at September 30, 2022 and 7,169,372 shares at December 31, 2021	14,330	14,341
Capital surplus	126,845	127,549
Retained earnings	224,238	203,750
Accumulated other comprehensive loss	(63,603)	(5,514)
Total stockholders' equity	301,810	340,126
Total liabilities and stockholders' equity	$ 3,516,806	$ 3,369,483

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Consolidated Balance Sheets
Held-to-maturity, Fair value	$ 78,512	$ 70,446
Common stock, par value	$ 2	$ 2
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	7,162,750	7,169,372
Common stock, shares outstanding	7,162,750	7,169,372

Consolidated Statements of Inco

Consolidated Statements of Income and Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest and fees on loans:
Taxable	$ 25,128	$ 21,276	$ 67,990	$ 62,205
Tax-exempt	1,338	1,024	3,717	2,859
Interest and dividends on investment securities:
Taxable	2,096	1,285	6,176	3,804
Tax-exempt	521	432	1,546	1,233
Dividends		24	2	72
Interest on interest-bearing deposits in other banks	41	2	61	6
Interest on federal funds sold	106	124	201	228
Total interest income	29,230	24,167	79,693	70,407
Interest expense:
Interest on deposits	3,316	1,698	6,381	5,731
Interest on short-term borrowings	457		579	78
Interest on long-term debt	16	41	67	225
Interest on subordinated debt	443	443	1,330	1,330
Total interest expense	4,232	2,182	8,357	7,364
Net interest income	24,998	21,985	71,336	63,043
Provision (credit) for loan losses	450	400	1,700
Net interest income after provision (credit) for loan losses	24,548	21,585	69,636	63,043
Noninterest income:
Mortgage banking income	135	244	407	764
Increase in cash surrender value of life insurance	269	225	731	669
Interest rate swap revenue	130	79	757	744
Net (losses) gains on equity investment securities	(18)	5	(37)	9
Total noninterest income	3,317	3,449	10,619	10,353
Noninterest expense:
Salaries and employee benefits expense	8,474	7,829	24,365	21,649
Net occupancy and equipment expense	3,898	3,150	11,673	9,464
Amortization of intangible assets	96	125	289	375
Net gain on sale of other real estate owned		(97)	(478)	(195)
Professional fees and outside services	664	629	1,900	1,645
FDIC insurance and assessments	324	305	969	836
Donations	373	366	1,038	1,084
Other expenses	2,106	1,840	5,961	5,376
Total noninterest expense	15,935	14,147	45,717	40,234
Income before income taxes	11,930	10,887	34,538	33,162
Income tax expense	1,962	1,791	5,587	6,057
Net income	9,968	9,096	28,951	27,105
Other comprehensive (loss) income:
Unrealized loss on investment securities available-for-sale	(21,510)	(3,130)	(72,791)	(8,409)
Change in derivative fair value	(46)	(128)	(740)	(22)
Other comprehensive loss	(21,556)	(3,258)	(73,531)	(8,431)
Income tax benefit related to other comprehensive loss	(4,527)	(684)	(15,442)	(1,771)
Other comprehensive loss, net of income tax benefit	(17,029)	(2,574)	(58,089)	(6,660)
Comprehensive (loss) income	$ (7,061)	$ 6,522	$ (29,138)	$ 20,445
Net income:
Basic	$ 1.39	$ 1.26	$ 4.04	$ 3.76
Diluted	$ 1.38	$ 1.26	$ 4.01	$ 3.74
Average common shares outstanding:
Basic	7,169,809	7,198,125	7,171,382	7,204,399
Diluted	7,213,147	7,233,189	7,214,966	7,239,463
Dividends declared	$ 0.40	$ 0.38	$ 1.18	$ 1.12
Service charges, fees and commissions
Noninterest income:
Revenue from contracts with customers	$ 1,714	$ 1,667	$ 5,167	$ 4,476
Merchant services income
Noninterest income:
Revenue from contracts with customers	157	158	833	759
Commission and fees on fiduciary activities
Noninterest income:
Revenue from contracts with customers	591	639	1,697	1,725
Wealth management income
Noninterest income:
Revenue from contracts with customers	$ 339	$ 432	$ 1,064	$ 1,207

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, 2020	$ 14,431	$ 129,274	$ 171,023	$ 2,149	$ 316,877
Net income			9,478		9,478
Other comprehensive income (loss), net of income taxes				(5,931)	(5,931)
Dividends declared			(2,665)		(2,665)
Stock based compensation		89			89
Restricted stock issued	18	(18)
Share retirement	(26)	(491)			(517)
Balance at Mar. 31, 2021	14,423	128,854	177,836	(3,782)	317,331
Balance at Dec. 31, 2020	14,431	129,274	171,023	2,149	316,877
Net income					27,105
Other comprehensive income (loss), net of income taxes					(6,660)
Balance at Sep. 30, 2021	14,356	127,826	190,061	(4,511)	327,732
Balance at Mar. 31, 2021	14,423	128,854	177,836	(3,782)	317,331
Net income			8,531		8,531
Other comprehensive income (loss), net of income taxes				1,845	1,845
Dividends declared			(2,665)		(2,665)
Stock based compensation		177			177
Share retirement	(16)	(312)			(328)
Balance at Jun. 30, 2021	14,407	128,719	183,702	(1,937)	324,891
Net income			9,096		9,096
Other comprehensive income (loss), net of income taxes				(2,574)	(2,574)
Dividends declared			(2,737)		(2,737)
Stock based compensation		213			213
Share retirement	(51)	(1,106)			(1,157)
Balance at Sep. 30, 2021	14,356	127,826	190,061	(4,511)	327,732
Balance at Dec. 31, 2021	14,341	127,549	203,750	(5,514)	340,126
Net income			9,630		9,630
Other comprehensive income (loss), net of income taxes				(26,153)	(26,153)
Dividends declared			(2,796)		(2,796)
Stock based compensation		(28)			(28)
Restricted stock issued	24	(24)
Share retirement	(13)	(305)			(318)
Balance at Mar. 31, 2022	14,352	127,192	210,584	(31,667)	320,461
Balance at Dec. 31, 2021	14,341	127,549	203,750	(5,514)	340,126
Net income					28,951
Other comprehensive income (loss), net of income taxes					(58,089)
Balance at Sep. 30, 2022	14,330	126,845	224,238	(63,603)	301,810
Balance at Mar. 31, 2022	14,352	127,192	210,584	(31,667)	320,461
Net income			9,353		9,353
Other comprehensive income (loss), net of income taxes				(14,907)	(14,907)
Dividends declared			(2,798)		(2,798)
Stock based compensation		116			116
Restricted stock issued	8	(8)
Share retirement	(14)	(314)			(328)
Balance at Jun. 30, 2022	14,346	126,986	217,139	(46,574)	311,897
Net income			9,968		9,968
Other comprehensive income (loss), net of income taxes				(17,029)	(17,029)
Dividends declared			(2,869)		(2,869)
Stock based compensation		223			223
Share retirement	(16)	(364)			(380)
Balance at Sep. 30, 2022	$ 14,330	$ 126,845	$ 224,238	$ (63,603)	$ 301,810

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021
Consolidated Statements of Changes in Stockholders' Equity
Dividends declared (in dollars per share)	$ 0.40	$ 0.39	$ 0.39	$ 0.38	$ 0.37	$ 0.37
Restricted stock issued, shares		4,071	12,332			9,192
Share retirement, shares	7,911	6,853	6,714	25,699	7,828	13,101
Unearned income		$ 210	$ 210			$ 182

Consolidated Statements of Cash

Consolidated Statements of Cash Flows $ in Thousands	9 Months Ended
Consolidated Statements of Cash Flows $ in Thousands	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)
Cash flows from operating activities:
Net income	$ 28,951	$ 27,105
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment	2,051	1,883
Amortization of right-of-use lease asset	443	320
Amortization (accretion) of deferred loan fees, net	1,314	(4,636)
Amortization of intangibles	289	375
Amortization of low income housing partnerships	362	360
Provision (credit) for loan losses	1,700
Net unrealized loss (gain) on equity investment securities	37	(9)
Net gain on sale of other real estate owned	(478)	(195)
Loans originated for sale	(6,139)	(18,462)
Proceeds from sale of loans originated for sale	5,937	18,577
Net gain on sale of loans originated for sale	(43)	(275)
Net amortization of investment securities	1,146	875
Gain on sale of premises and equipment		(20)
Increase in cash surrender value of life insurance	(731)	(669)
Deferred income tax expense		620
Stock based compensation	311	479
Net change in:
Accrued interest receivable	(1,555)	(25)
Other assets	(1,911)	313
Accrued interest payable	721	136
Other liabilities	(2,180)	(1,108)
Net cash provided by operating activities	30,225	25,644
Proceeds from repayments of investment securities:
Available-for-sale	35,314	40,111
Held-to-maturity	4,188	367
Purchases of investment securities:
Available-for-sale	(69,392)	(214,856)
Held-to-maturity	(25,872)	(25,996)
Net (purchase) redemption of restricted equity securities	(457)	1,481
Net increase in loans	(296,108)	(24,238)
Purchases of premises and equipment	(5,386)	(3,668)
Proceeds from the sale of premises and equipment		101
Investment in bank owned life insurance	(5,881)
Proceeds from bank owned life insurance	1,132	251
Proceeds from sale of other real estate owned	967	995
Net cash used in investing activities	(361,495)	(225,452)
Cash flows from financing activities:
Net (decrease) increase in deposits	160,743	403,806
Repayment of long-term debt	(1,607)	(11,534)
Net increase (decrease) in short-term borrowings	14,700	(50,000)
Retirement of common stock	(1,026)	(2,002)
Cash dividends paid	(8,463)	(8,067)
Net cash provided by financing activities	164,347	332,203
Net (decrease) increase in cash and cash equivalents	(166,923)	132,395
Cash and cash equivalents at beginning of period	279,933	228,192
Cash and cash equivalents at end of period	113,010	360,587
Cash paid during the period for:
Interest	7,636	7,228
Income taxes	$ 7,395	5,600
Noncash items:
Transfers of loans to other real estate		545
Initial recognition of right-of-use assets		2,253
Initial recognition of lease liability		$ 2,253

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
Summary of significant accounting policies	Sep. 30, 2022
Summary of significant accounting policies
Summary of significant accounting policies	1. Summary of significan t 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 (“the Bank”), collectively, the “Company” or “Peoples”. The Company services its retail and commercial customers through Basis of presentation: The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the consolidated financial position and results of operations for the periods presented have been included. All significant intercompany balances and transactions have been eliminated in consolidation. Prior-period amounts are reclassified when necessary to conform to the current year’s presentation. These reclassifications did not have any effect on the consolidated operating results or financial position of the Company. The consolidated operating results and financial position of the Company for the three and nine months ended and as of September 30, 2022, are not necessarily indicative of the results of consolidated operations and financial position that may be expected in the future. 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 deferred tax assets, and impairment of goodwill. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, reference is made to the Company’s Annual Report on Form 10-K for the period ended December 31, 2021. Fourth Quarter Dividend Decl aration On October 28, 2022, the Board of Directors declared a fourth quarter dividend of $0.40 per share. The dividend is payable on December 15, 2022 to shareholders of record as of November 30, 2022. Recent accounting standards: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies that are adopted by the Company as of the required effective dates. The following should be read in conjunction with "Note 1 Summary of significant accounting policies" of the Notes to the Consolidated Financial Statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2021. Unless otherwise discussed, management believes the impact of any recently issued standards, including those issued but not yet effective, will not have a material impact on the Company’s consolidated financial statements. Recently Issued But Not Yet Effective Accounting Pronouncements ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), as modified by subsequent ASUs, changes accounting for credit losses on loans receivable and debt securities from an incurred loss methodology to an expected credit loss methodology. Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Accordingly, ASU 2016-13 requires the use of forward-looking information to form credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, though the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, ASU 2016-13 amends the accounting for credit losses on debt securities and purchased financial assets with credit deterioration. The effect of implementing this ASU is recorded through a cumulative-effect adjustment to retained earnings. The Company has formed a committee and engaged outside vendors to implement a platform to utilize the alternative loss estimation methodologies in determining the impact that adoption of this standard will have on the Company’s financial condition and results of operations. The Company is required to adopt this guidance effective January 1, 2023. ASU No. 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors, while adding disclosures for certain loan restructurings by creditors when a borrower is experiencing financial difficulty. This guidance requires an entity to determine whether the modification results in a new loan or a continuation of an existing loan. Additionally, the ASU requires disclosure of current period gross write-offs by year of origination for financing receivables. The Company is required to adopt this guidance effective January 1, 2023. The Company is currently evaluating the impact adoption of this ASU will have on its financial results and will add the required disclosures for gross charge offs in its financial statements upon adoption of the new standard. ASU 2020-04, Reference Rate Reform (Topic 848) provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The amendments in Update 2020-04 are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference the London Inter Bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued. The guidance includes a general principle that permits an entity to consider contract modifications due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. Some specific optional expedients are as follows: ● Simplifies accounting for contract modifications, including modifications to loans receivable and debt, by prospectively adjusting the effective interest rate. ● Simplifies the assessment of hedge effectiveness and allows hedging relationships affected by reference rate reform to continue. The amendments in ASU 2020-04 are effective as of March 12, 2020 through December 31, 2022. The Company expects to apply the amendments prospectively for applicable loan and other contracts within the effective period of ASU 2020-04.

Other comprehensive loss

Other comprehensive loss	9 Months Ended
Other comprehensive loss	Sep. 30, 2022
Other comprehensive loss
Other comprehensive loss	2. 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, benefit plan adjustments and adjustments to derivative fair values. The components of accumulated other comprehensive loss included in stockholders’ equity at September 30, 2022 and December 31, 2021 are as follows: September 30, 2022 December 31, 2021 Net unrealized loss on investment securities available-for-sale $ (74,582) $ (1,791) Income tax benefit (15,662) (376) Net of income taxes (58,920) (1,415) Benefit plan adjustments (5,868) (5,868) Income tax benefit (1,232) (1,232) Net of income taxes (4,636) (4,636) Derivative adjustments (60) 680 Income tax (benefit) expense (13) 143 Net of income taxes (47) 537 Accumulated other comprehensive loss $ (63,603) $ (5,514)

Earnings per share

Earnings per share	9 Months Ended
Earnings per share	Sep. 30, 2022
Earnings per share
Earnings per share	3. 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. The following table presents the calculation of both basic and diluted earnings per share of common stock for the three and nine months ended September 30, 2022 and 2021: 2022 2021 For the Three Months Ended September 30, Basic Diluted Basic Diluted Net income $ 9,968 $ 9,968 $ 9,096 $ 9,096 Average common shares outstanding 7,169,809 7,213,147 7,198,125 7,233,189 Earnings per share $ 1.39 $ 1.38 $ 1.26 $ 1.26 2022 2021 For the Nine Months Ended September 30, Basic Diluted Basic Diluted Net income $ 28,951 $ 28,951 $ 27,105 $ 27,105 Average common shares outstanding 7,171,382 7,214,966 7,204,399 7,239,463 Earnings per share $ 4.04 $ 4.01 $ 3.76 $ 3.74

Investment securities

Investment securities	9 Months Ended
Investment securities	Sep. 30, 2022
Investment securities
Investment securities	4. Investment securities: The amortized cost and fair value of investment securities aggregated by investment category at September 30, 2022 and December 31, 2021 are summarized as follows: Gross Gross Amortized Unrealized Unrealized Fair September 30, 2022 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 247,812 $ $ 23,476 $ 224,336 U.S. government-sponsored enterprises 16,976 625 16,351 State and municipals: Taxable 69,913 1 13,680 56,234 Tax-exempt 100,078 1 15,493 84,586 Residential mortgage-backed securities: U.S. government agencies 1,130 39 1,091 U.S. government-sponsored enterprises 100,020 20,312 79,708 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 12,243 564 11,679 Corporate debt securities 4,000 395 3,605 Total $ 552,172 $ 2 $ 74,584 $ 477,590 Held-to-maturity: Tax-exempt state and municipals $ 11,247 $ $ 1,286 $ 9,961 Residential mortgage-backed securities: U.S. government agencies 17,732 2,679 15,053 U.S. government-sponsored enterprises 63,792 10,294 53,498 Total $ 92,771 $ $ 14,259 $ 78,512 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2021 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 193,849 $ 107 $ 2,382 $ 191,574 U.S. government-sponsored enterprises 33,435 343 33,778 State and municipals: Taxable 69,066 994 1,082 68,978 Tax-exempt 96,412 2,452 614 98,250 Residential mortgage-backed securities: U.S. government agencies 1,790 53 1,843 U.S. government-sponsored enterprises 109,018 939 2,925 107,032 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 12,542 406 12,948 Corporate debt securities 3,000 82 2,918 Total $ 519,112 $ 5,294 $ 7,085 $ 517,321 Held-to-maturity: Tax-exempt state and municipals $ 11,476 $ 126 $ 56 $ 11,546 Residential mortgage-backed securities: U.S. government agencies 18,802 392 18,410 U.S. government-sponsored enterprises 40,935 3 448 40,490 Total $ 71,213 $ 129 $ 896 $ 70,446 Restricted Investment In Stock Restricted investment in stock includes Federal Home Loan Bank (“FHLB”) stock with a carrying cost of $4.5 million and $4.0 million at September 30, 2022 and December 31, 2021, respectively, and Atlantic Community Bankers Bank (“ACBB”) stock with a carrying cost of $42 thousand at September 30, 2022 and December 31, 2021, respectively, which are included in other assets in the consolidated balance sheets. FHLB and ACBB stock was issued as a requirement to facilitate participation in borrowing and other banking services. The investment in FHLB stock may fluctuate, as it is based on the member bank’s use of FHLB’s services. These restricted investments are carried at cost and evaluated for other-than-temporary impairment (“OTTI”) quarterly. As of September 30, 2022, there was no OTTI associated with these investments. The maturity distribution of the fair value, which is the net carrying amount, of the debt securities classified as available-for-sale at September 30, 2022, is summarized as follows: Fair September 30, 2022 Value Within one year $ 18,608 After one but within five years 204,991 After five but within ten years 74,710 After ten years 84,516 382,825 Mortgage-backed and other amortizing securities 94,765 Total $ 477,590 The maturity distribution of the amortized cost and fair value, of debt securities classified as held-to-maturity at September 30, 2022, is summarized as follows: Amortized Fair September 30, 2022 Cost Value After five but within ten years $ 8,294 $ 7,410 After ten years 2,953 2,551 11,247 9,961 Mortgage-backed securities 81,524 68,551 Total $ 92,771 $ 78,512 Securities with a carrying value of $165.1 million and $203.6 million at September 30, 2022 and December 31, 2021, 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 September 30, 2022 and December 31, 2021, there were no significant concentrations of credit risk from any one issuer, with the exception of U.S. government agencies and sponsored enterprises, which 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 September 30, 2022 and December 31, 2021, 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 Greater Total Number of Number of Number of Securities in a Fair Unrealized Securities in a Fair Unrealized Securities in a Fair Unrealized September 30, 2022 Loss Position Value Losses Loss Position Value Losses Loss Position Value Losses U.S. Treasury securities 16 $ 83,156 $ 5,372 37 $ 141,180 $ 18,104 53 $ 224,336 $ 23,476 U.S. government-sponsored enterprises 5 16,351 625 5 16,351 625 State and municipals: Taxable 32 27,779 4,951 34 26,547 8,729 66 54,326 13,680 Tax-exempt 74 57,580 7,835 58 35,886 8,944 132 93,466 16,779 Residential mortgage-backed securities: U.S. government agencies 6 1,098 39 3 15,046 2,679 9 16,144 2,718 U.S. government-sponsored enterprises 26 54,953 9,141 16 78,254 21,465 42 133,207 30,606 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4 11,679 564 4 11,679 564 Corporate debt securities 1 947 53 5 2,658 342 6 3,605 395 Total 164 $ 253,543 $ 28,580 153 $ 299,571 $ 60,263 317 $ 553,114 $ 88,843 Less Than 12 Months 12 Months or Greater Total Number of Number of Number of Securities in a Fair Unrealized Securities in a Fair Unrealized Securities in a Fair Unrealized December 31, 2021 Loss Position Value Losses Loss Position Value Losses Loss Position Value Losses U.S. Treasury securities 42 $ 179,974 $ 2,382 $ $ 42 $ 179,974 $ 2,382 State and municipals: Taxable 27 26,827 718 8 8,008 364 35 34,835 1,082 Tax-exempt 61 38,693 357 2 10,319 313 63 49,012 670 Residential mortgage-backed securities: U.S. government agencies 3 18,398 392 3 18,398 392 U.S. government-sponsored enterprises 13 77,875 1,454 7 48,276 1,919 20 126,151 3,373 Corporate debt securities 4 2,449 51 1 470 31 5 2,919 82 Total 150 $ 344,216 $ 5,354 18 $ 67,073 $ 2,627 168 $ 411,289 $ 7,981 The unrealized losses on securities are primarily due to the changes in market interest rates subsequent to purchase. The Company did not consider these securities to have OTTI at September 30, 2022 or December 31, 2021 since the decline in market value was attributable to changes in interest rates and not to changes in credit quality. In addition, the Company does not intend to sell and does not believe that it is more likely than not that it will be required to sell these investments until there is a full recovery of the unrealized loss, which may be at maturity. As a result, no impairment loss was recognized during the nine months ended September 30, 2022 or for the year ended December 31, 2021.

Loans, net and allowance for lo

Loans, net and allowance for loan losses	9 Months Ended
Loans, net and allowance for loan losses	Sep. 30, 2022
Loans, net and allowance for loan losses
Loans, net and allowance for loan losses	5. Loans, net and allowance for loan losses: The major classifications of loans outstanding, net of deferred loan origination fees and costs at September 30, 2022 and December 31, 2021 are summarized as follows. The Company had net deferred loan origination fees of $0.3 million and $1.6 million at September 30, 2022 and December 31, 2021, respectively. The decrease to the fees since year-end is due in part to the forgiveness by the Small Business Administration (“SBA”) of Paycheck Protection Program (“PPP”) loans. At the period end September 30, 2022 December 31, 2021 Commercial Taxable $ 371,164 $ 424,455 Non-taxable 224,764 188,672 Total 595,928 613,127 Real estate Commercial 1,620,116 1,343,539 Residential 326,223 297,624 Total 1,946,339 1,641,163 Consumer Indirect Auto 70,006 65,791 Consumer Other 11,433 9,092 Total 81,439 74,883 Total $ 2,623,706 $ 2,329,173 PPP loans are forgivable, in whole or in part, if the proceeds are used for payroll and other permitted purposes in accordance with the requirements of the PPP. These loans carry a fixed rate of 1.00% and a term of two years or five years , if not forgiven, in whole or in part. Payments are deferred until either the date on which the SBA remits the amount of forgiveness proceeds to the lender or the date that is 10 months after the last day of the covered period if the borrower does not apply for forgiveness within that 10 month period. PPP fees are deferred and accreted into interest income over the contractual period of 24 months or 60 months , as applicable. Upon SBA forgiveness, unamortized fees are then recognized into interest income. The Bank originated additional loans through the PPP, which expired on May 31, 2021. During 2021, the Bank had generated and received SBA approval on 1,062 PPP loans totaling $121.6 million and generated $4.4 million in related deferred PPP net fees. Net deferred loan origination fees remaining related to PPP loans is $0.3 million at September 30, 2022, compared to $1.7 million at December 31, 2021. The PPP loans are included in the taxable commercial loan classification and had an outstanding balance at September 30, 2022 of $22.7 million comprised of $11.2 million remaining from those originated during 2021 as part of round two and $11.5 million remaining from loans originated during 2020 under round one of the program. At December 31, 2021, PPP loans had outstanding balances totaling $68.9 million. The PPP loans are risk rated ‘Pass’ and do not carry an allowance for loan losses due to a 100% SBA guarantee. At September 30, 2022 and December 31, 2021, the outstanding PPP balances were considered current. The changes in the allowance for loan losses account by major classification of loan for the three and nine months ended September 30, 2022 and 2021 are summarized as follows: Real estate September 30, 2022 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance July 1, 2022 $ 7,766 $ 17,569 $ 3,220 $ 819 $ 29,374 Charge-offs (15) (86) (101) Recoveries 10 32 1 56 99 Provisions (credits) (5) 437 9 9 450 Ending balance $ 7,771 $ 18,023 $ 3,230 $ 798 $ 29,822 Real estate September 30, 2021 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance July 1, 2021 $ 8,520 $ 14,281 $ 3,069 $ 869 $ 26,739 Charge-offs (446) (12) (8) (466) Recoveries 4 1 15 20 Provisions (credits) (164) 519 92 (47) 400 Ending balance $ 7,914 $ 14,789 $ 3,161 $ 829 $ 26,693 Real estate September 30, 2022 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance January 1, 2022 $ 8,453 $ 15,928 $ 3,209 $ 793 $ 28,383 Charge-offs (161) (147) (2) (244) (554) Recoveries 39 109 4 141 293 Provisions (credits) (560) 2,133 19 108 1,700 Ending balance $ 7,771 $ 18,023 $ 3,230 $ 798 $ 29,822 Real estate September 30, 2021 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance January 1, 2021 $ 8,734 $ 14,559 $ 3,129 $ 922 $ 27,344 Charge-offs (461) (252) (24) (114) (851) Recoveries 83 67 2 48 200 Provisions (credits) (442) 415 54 (27) — Ending balance $ 7,914 $ 14,789 $ 3,161 $ 829 $ 26,693 The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2022 and December 31, 2021 is summarized as follows: Real estate September 30, 2022 Commercial Commercial Residential Consumer Total Allowance for loan losses: Ending balance $ 7,771 $ 18,023 $ 3,230 $ 798 $ 29,822 Ending balance: individually evaluated for impairment 19 1 21 41 Ending balance: collectively evaluated for impairment $ 7,752 $ 18,022 $ 3,209 $ 798 $ 29,781 Loans receivable: Ending balance $ 595,928 $ 1,620,116 $ 326,223 $ 81,439 $ 2,623,706 Ending balance: individually evaluated for impairment 114 2,721 1,161 3,996 Ending balance: collectively evaluated for impairment $ 595,814 $ 1,617,395 $ 325,062 $ 81,439 $ 2,619,710 Real estate December 31, 2021 Commercial Commercial Residential Consumer Total Allowance for loan losses: Ending balance $ 8,453 $ 15,928 $ 3,209 $ 793 $ 28,383 Ending balance: individually evaluated for impairment 40 109 26 175 Ending balance: collectively evaluated for impairment $ 8,413 $ 15,819 $ 3,183 $ 793 $ 28,208 Loans receivable: Ending balance $ 613,127 $ 1,343,539 $ 297,624 $ 74,883 $ 2,329,173 Ending balance: individually evaluated for impairment 199 2,889 1,274 4,362 Ending balance: collectively evaluated for impairment $ 612,928 $ 1,340,650 $ 296,350 $ 74,883 $ 2,324,811 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 loan 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 affected in the future. 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 September 30, 2022 and December 31, 2021: Special September 30, 2022 Pass Mention Substandard Doubtful Total Commercial $ 587,033 $ 8,065 $ 830 $ $ 595,928 Real estate: Commercial 1,606,076 7,722 6,318 1,620,116 Residential 324,452 114 1,657 326,223 Consumer 81,170 269 81,439 Total $ 2,598,731 $ 15,901 $ 9,074 $ $ 2,623,706 Special December 31, 2021 Pass Mention Substandard Doubtful Total Commercial $ 611,151 $ 896 $ 1,080 $ $ 613,127 Real estate: Commercial 1,324,646 13,939 4,954 1,343,539 Residential 294,892 333 2,399 297,624 Consumer 74,744 139 74,883 Total $ 2,305,433 $ 15,168 $ 8,572 $ $ 2,329,173 The increase to special mention commercial loans is primarily the result of the downgrade of one credit with an outstanding balance of $7.8 million, due to insufficient cash flows as the borrower’s operations have not stabilized in the anticipated timeframe. The decrease to special mention commercial real estate loans is due in part to an upgrade of a $3.5 million credit resulting from improved financial performance and satisfactory repayment history and the payoff of a $2.4 million credit. The increase to substandard commercial real estate loans is primarily due to the downgrade of three credits totaling $1.7 million as a result of repayment uncertainty. These downgrades were offset by the payoff/reduction of various credits. Substandard residential real estate loans decreased Information concerning nonaccrual loans by major loan classification at September 30, 2022 and December 31, 2021 is summarized as follows: September 30, 2022 December 31, 2021 Commercial $ 102 $ 185 Real estate: Commercial 1,787 1,793 Residential 423 694 Consumer 245 139 Total $ 2,557 $ 2,811 Nonaccrual loans decreased $254 thousand from year end December 31, 2021 due to decreases in commercial, commercial real estate and residential loans, partially offset by increases in consumer loans. The major classifications of loans by past due status are summarized as follows: Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and September 30, 2022 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 35 $ $ 102 $ 137 $ 595,791 $ 595,928 $ Real estate: Commercial 146 605 330 1,081 1,619,035 1,620,116 Residential 341 640 565 1,546 324,677 326,223 280 Consumer 405 234 98 737 80,702 81,439 Total $ 927 $ 1,479 $ 1,095 $ 3,501 $ 2,620,205 $ 2,623,706 $ 280 Improved credit quality resulted in lower levels of past due loans from year end. Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and December 31, 2021 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 101 155 $ 158 $ 414 $ 612,713 $ 613,127 $ Real estate: Commercial 768 $ 423 834 2,025 1,341,514 1,343,539 Residential 1,552 207 265 2,024 295,600 297,624 13 Consumer 477 163 51 691 74,192 74,883 Total $ 2,898 $ 948 $ 1,308 $ 5,154 $ 2,324,019 $ 2,329,173 $ 13 The following tables summarize information concerning impaired loans as of and for the three and nine months ended September 30, 2022 and September 30, 2021, and as of and for the year ended December 31, 2021 by major loan classification: This Quarter Year-to-Date Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income September 30, 2022 Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance: Commercial $ 94 $ 425 $ 110 $ 3 $ 129 $ 7 Real estate: Commercial 2,389 3,193 2,431 9 2,497 31 Residential 918 1,102 957 6 915 16 Consumer 245 256 258 215 Total 3,646 4,976 3,756 18 3,756 54 With an allowance recorded: Commercial 20 20 $ 19 27 — 29 — Real estate: Commercial 332 332 1 381 7 429 15 Residential 243 247 21 257 3 297 9 Total 595 599 41 665 10 755 24 Total impaired loans Commercial 114 445 19 137 3 158 7 Real estate: Commercial 2,721 3,525 1 2,812 16 2,926 46 Residential 1,161 1,349 21 1,214 9 1,212 25 Consumer 245 256 258 215 Total $ 4,241 $ 5,575 $ 41 $ 4,421 $ 28 $ 4,511 $ 78 For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2021 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 158 $ 481 $ 964 $ 13 Real estate: Commercial 2,376 3,120 2,719 22 Residential 873 1,073 1,016 19 Consumer 139 148 100 Total 3,546 4,822 4,799 54 With an allowance recorded: Commercial 41 41 40 1,091 15 Real estate: Commercial 513 543 109 802 22 Residential 401 401 26 436 13 Consumer Total 955 985 175 2,329 50 Total impaired loans Commercial 199 522 40 2,055 28 Real estate: Commercial 2,889 3,663 109 3,521 44 Residential 1,274 1,474 26 1,452 32 Consumer 139 148 100 Total $ 4,501 $ 5,807 $ 175 $ 7,128 $ 104 This Quarter Year-to-Date Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income September 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance: Commercial $ 634 $ 1,097 $ 870 $ 2 $ 1,166 $ 9 Real estate: Commercial 2,560 3,275 2,785 4 2,805 19 Residential 991 1,184 999 5 1,051 15 Consumer 82 96 79 91 Total 4,267 5,652 4,733 11 5,113 43 With an allowance recorded: Commercial 424 424 $ 18 695 5 1,354 15 Real estate: Commercial 534 564 107 604 4 875 14 Residential 440 446 41 450 3 445 10 Consumer Total 1,398 1,434 166 1,749 12 2,674 39 Total impaired loans Commercial 1,058 1,521 18 1,565 7 2,520 24 Real estate: Commercial 3,094 3,839 107 3,389 8 3,680 33 Residential 1,431 1,630 41 1,449 8 1,496 25 Consumer 82 96 79 91 Total $ 5,665 $ 7,086 $ 166 $ 6,482 $ 23 $ 7,787 $ 82 Loan Modifications/Troubled Debt Restructurings/COVID-19 Included in the commercial real estate and residential real estate categories are troubled debt restructurings that are classified as impaired. Troubled debt restructurings totaled $1.4 million at September 30, 2022, $1.6 million at December 31, 2021 and $2.6 million at September 30, 2021. 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 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. ● 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. There were no loans modified as troubled debt restructurings during the nine months ended September 30, 2022 or 2021. During the three months and nine ended September 30, 2022 or 2021, there were no payment defaults on troubled debt restructurings.

Other assets

Other assets	9 Months Ended
Other assets	Sep. 30, 2022
Other assets
Other assets	6. Other assets: The increase in other assets was due to the increase to the net deferred tax asset related to the higher unrealized loss of the available-for-sale securities portfolio and an increase in the fair value of our commercial customers interest rate swaps due to higher market rates. The components of other assets at September 30, 2022 and December 31, 2021 are summarized as follows: September 30, 2022 December 31, 2021 Other real estate owned $ 121 $ 609 Investment in low income housing partnership 5,539 5,900 Mortgage servicing rights 931 882 Restricted equity securities (FHLB and other) 4,502 4,045 Net deferred tax asset 20,793 5,355 Interest rate floor 4 844 Interest rate swaps 22,807 9,026 Other assets 7,838 6,395 Total $ 62,535 $ 33,056

Fair value estimates

Fair value estimates	9 Months Ended
Fair value estimates	Sep. 30, 2022
Fair value estimates
Fair value estimates	7. Fair value estimates: 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. In accordance with FASB ASC 820, “Fair Value Measurements and Disclosures,” 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. An asset’s or liability’s placement in the fair value hierarchy is based on the lowest level of input that is significant to the fair value estimate. During the periods ended September 30, 2022 and December 31, 2021 there were no transfers in or out of Level 3 . The following methods and assumptions were used by the Company to calculate fair values and related carrying amounts of financial instruments: Investment securities: Loans held for sale: Interest rate swaps and options: Assets and liabilities measured at fair value on a recurring basis at September 30, 2022 and December 31, 2021 are summarized as follows: Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs September 30, 2022 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 224,336 $ 224,336 $ $ U.S. government-sponsored enterprises 16,351 16,351 State and municipals: Taxable 56,234 56,234 Tax-exempt 84,586 84,586 Mortgage-backed securities: U.S. government agencies 1,091 1,091 U.S. government-sponsored enterprises 91,387 91,387 Corporate debt securities 3,605 3,605 Common equity securities 103 103 Total investment securities $ 477,693 $ 224,439 $ 253,254 $ Loan held for sale $ 653 $ 653 Interest rate floor-other assets $ 4 $ 4 Interest rate swap-other assets $ 22,953 $ 22,953 Interest rate swap-other liabilities $ (22,089) $ (22,089) Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2021 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 191,574 $ 191,574 $ U.S. government-sponsored enterprises 33,778 $ 33,778 State and municipals: Taxable 68,978 68,978 Tax-exempt 98,250 98,250 Mortgage-backed securities: U.S. government agencies 1,843 1,843 U.S. government-sponsored enterprises 119,980 119,980 Corporate debt securities 2,918 2,918 Common equity securities 140 140 Total investment securities $ 517,461 $ 191,714 $ 325,747 $ Loan held for sale $ 408 $ 408 Interest rate floor-other assets $ 844 $ 844 Interest rate swap-other assets $ 9,026 $ 9,026 Interest rate swap-other liabilities $ (8,811) $ (8,811) Assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2022 and December 31, 2021 are summarized as follows: Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs September 30, 2022 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 553 $ 553 Fair Value Measurement Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs December 31, 2021 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 780 $ 780 Other real estate owned $ 487 $ 487 Fair values of impaired loans are 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. 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 September 30, 2022 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 553 Appraisal of collateral Appraisal adjustments 21.6% to 97.0% (70.6)% Liquidation expenses 3.0% to 6.0% (5.2)% Quantitative Information about Level 3 Fair Value Measurements Fair Value Range December 31, 2021 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 780 Appraisal of collateral Appraisal adjustments 6.4% to 97.0% (65.2)% Liquidation expenses 3.0% to 6.0% (5.1)% Other real estate owned $ 487 Appraisal of collateral Appraisal adjustments 35.9% to 35.9% (35.9)% 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 September 30, 2022 and December 31, 2021 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 September 30, 2022 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and due from banks $ 113,010 $ 113,010 $ 113,010 Investment securities: Available-for-sale 477,590 477,590 224,336 $ 253,254 Common equity securities 103 103 103 Held-to-maturity 92,771 78,512 78,512 Loans held for sale 653 653 653 Net loans 2,593,884 2,508,050 $ 2,508,050 Accrued interest receivable 10,082 10,082 10,082 Mortgage servicing rights 931 1,433 1,433 Restricted equity securities (FHLB and other) 4,502 4,502 4,502 Interest rate floor 4 4 4 Interest rate swaps 22,953 22,953 22,953 Total $ 3,316,483 $ 3,216,892 Financial liabilities: Deposits $ 3,124,140 $ 3,113,415 $ 3,113,415 Short-term borrowings 14,700 14,700 14,700 Long-term debt 1,104 1,106 1,106 Subordinated debentures 33,000 33,211 33,211 Accrued interest payable 1,129 1,129 1,129 Interest rate swaps 22,089 22,089 22,089 Total $ 3,196,162 $ 3,185,650 Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Fair Assets Inputs Inputs December 31, 2021 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and due from banks $ 279,933 $ 279,933 $ 279,933 Investment securities: Available-for-sale 517,321 517,321 191,574 $ 325,747 Common equity securities 140 140 140 Held-to-maturity 71,213 70,446 70,446 Loans held for sale 408 408 408 Net loans 2,300,790 2,261,586 $ 2,261,586 Accrued interest receivable 8,528 8,528 8,528 Mortgage servicing rights 882 1,357 1,357 Restricted equity securities (FHLB and other) 4,045 4,045 4,045 Interest rate floor 844 844 844 Interest rate swaps 9,026 9,026 9,026 Total $ 3,193,130 $ 3,153,634 Financial liabilities: Deposits $ 2,963,397 $ 2,963,547 $ 2,963,547 Long-term debt 2,711 2,778 2,778 Subordinated debentures 33,000 32,337 32,337 Accrued interest payable 408 408 408 Interest rate swaps 8,811 8,811 8,811 Total $ 3,008,327 $ 3,007,881

Employee benefit plans

Employee benefit plans	9 Months Ended
Employee benefit plans	Sep. 30, 2022
Employee benefit plans
Employee benefit plans	8. Employee benefit plans: The Company provides an Employee Stock Ownership Plan (“ESOP”) and a Retirement Profit Sharing Plan. The Company also maintains Supplemental Executive Retirement Plans (“SERPs”) and an Employees’ Pension Plan, which is currently frozen. For the three and nine months ended September 30, salaries and employee benefits expense includes approximately $373 thousand and $970 thousand in 2022, and $343 thousand and $991 thousand in 2021 relating to the employee benefit plans. Pension Benefits Three Months Ended September 30, 2022 2021 Components of net periodic pension benefit: Interest cost $ 114 $ 105 Expected return on plan assets (352) (322) Amortization of unrecognized net gain 50 76 Net periodic benefit $ (188) $ (141) Pension Benefits Nine Months Ended September 30, 2022 2021 Components of net periodic pension benefit: Interest cost $ 342 $ 315 Expected return on plan assets (1,056) (966) Amortization of unrecognized net gain 149 227 Net periodic benefit $ (565) $ (424) 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 exercisability of an award. Persons eligible to receive awards under the 2017 Plan include directors, officers, employees, consultants and other service providers of the Company and its subsidiaries. As of September 30, 2022, there were 17,364 shares of the Company’s common stock available for grant as awards pursuant to the 2017 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. For the nine months ended September 30, 2022 and 2021, the Company granted awards of restricted stock and restricted stock units under the 2017 Plan, The non-performance restricted stock grants made in 2022, 2021 and 2020 vest equally over three years . The performance-based restricted stock units vest over three fiscal years and include conditions based on the Company’s three year cumulative diluted earnings per share and three-year average return on equity or tangible equity that determines the number of restricted stock units that may vest. 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. The Company recognized net compensation costs of $223 thousand and $613 thousand for the three and nine months ended September 30, 2022 for awards granted under the 2017 Plan. The Company recognized compensation expense of $213 thousand and $479 thousand for the three and nine months ended September 30, 2021 for awards granted under the 2017 Plan. As of September 30, 2022, the Company had $1.2 million of unrecognized compensation expense associated with restricted stock awards. The remaining cost is expected to be recognized over a weighted average vesting period of under 1.8 years.

Derivatives and hedging activit

Derivatives and hedging activities	9 Months Ended
Derivatives and hedging activities	Sep. 30, 2022
Derivatives and hedging activities
Derivatives and hedging activities	9. 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 and borrowings. Cash Flow Hedges of Interest Rate Risk The Company’s objectives in using interest rate derivatives are to add stability to interest income/expense and to manage its exposure to interest rate movements. To accomplish this objective, the Company primarily uses interest rate swaps and floors as part of its interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. 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. Such derivatives have been used to hedge the variable cash flows associated with existing variable-rate assets and issuances of debt. 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 income (loss) and subsequently reclassified into interest expense/income in the same period(s) during which the hedged transaction affects earnings. Amounts reported in accumulated other comprehensive income (loss) related to derivatives will be reclassified to interest expense/income as interest payments are made/received on the Company’s variable-rate debt/assets. During the next twelve months, the Company estimates that an additional $64 thousand will be reclassified as an increase 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. 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 September 30, 2022, the Company had 86 interest rate swaps with an aggregate notional amount of $386.2 million 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 September 30, 2022 and December 31, 2021. Asset Derivatives Asset Derivatives Liability Derivatives Liability Derivatives As of September 30, 2022 (1) As of December 31, 2021 (1) As of September 30, 2022 (2) As of December 31, 2021 (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 $ 4 Other Assets $ 844 Total derivatives designated as hedging instruments $ 4 $ 844 $ $ Derivatives not Interest Rate Swaps (2) $ 386,171 Other Assets $ 22,953 Other Assets $ 9,026 Other Liabilities $ 22,089 Other Liabilities $ 8,811 Total derivatives not $ 22,953 $ 9,026 $ 22,089 $ 8,811 (1) Amounts include accrued interest. (2) Notional amount of interest rate swaps at December 31, 2021 was $392,677 . Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive Income (Loss) The table below presents the effect of fair value and cash flow hedge accounting on accumulated other comprehensive income (loss) as of September 30, 2022 and September 30, 2021. Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain (Loss) (Loss) (Loss) (Loss) Recognized from Gain 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 September 30, 2022 Income September 30, 2022 Derivatives in Cash Flow Hedging Relationships Cash Flow Swap Other expense Interest Rate Floor () $ (512) $ (497) $ (15) Interest Income $ 228 $ 276 $ (48) Total $ (512) $ (497) $ (15) $ 228 $ 276 $ (48) Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain (Loss) Loss Gain (Loss) Gain (Loss) Gain Recognized from Gain (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 September 30, 2021 Income September 30, 2021 Derivatives in Cash Flow Hedging Relationships Cash Flow Swap $ 401 $ 401 Interest Expense $ (23) $ (23) Cash Flow Swap Other Expense (25) (25) Interest Rate Floor () $ (66) $ (70) $ 4 Interest Income $ 405 $ 453 $ (48) Total $ 335 $ 331 $ 4 $ 357 $ 405 $ (48) * Amounts disclosed are gross and not net of taxes. Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income The table below presents the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2022 and September 30, 2021. Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships For the three months ended September 30, 2022 2022 2021 2021 Interest Income Interest Expense Interest Income Interest Expense 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 $ 4 $ $ 137 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 $ 4 $ $ 137 $ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component $ 20 $ $ 153 $ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component $ (16) $ (16) $ Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships For the nine months ended September 30, 2022 2022 2021 2021 Interest Income Interest Expense Interest Income Interest Expense 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 $ 228 $ $ 405 $ (48) 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 $ 228 $ $ 405 $ (23) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring $ (25) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component $ 276 $ $ 453 $ (48) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component $ (48) $ (48) $ Effect of Derivative Instruments on the Consolidated Statements of Income and Comprehensive Income The tables below present the effect of the Company’s derivative financial instruments on the Consolidated Statements of Income and Comprehensive Income for the three and nine months ended September 30, 2022 and 2021. Amount of Gain Amount of Gain Amount of Gain Amount of Loss Recognized in Recognized in Recognized in Recognized in Location of Gain or (Loss) Income Income Income Income Recognized in Income on Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Derivatives Not Designated as Hedging Instruments Derivative September 30, 2022 September 30, 2022 September 30, 2021 September 30, 2021 Interest Rate Swaps Interest rate swap revenue $ 129 $ 652 $ 7 $ 175 Other Contracts 1 4 Total $ 130 $ 656 $ 7 $ 175 Fee Income Fee income $ 2 $ 106 $ 72 $ 569 Offsetting Derivatives The table below presents a gross presentation, the effects of offsetting, and a net presentation of the Company’s derivatives as of September 30, 2022 and December 31, 2021. 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 September 30, 2022 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 $ 22,957 $ $ 22,957 $ $ 14,700 $ 8,257 Offsetting of Derivative Liabilities as of September 30, 2022 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Liabilities Recognized Offset in the presented in the Financial Cash Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Paid* Amount Derivatives $ 22,089 $ $ 22,089 $ 22,089 $ $ *Cash collateral of $7,830 was paid but not presented as an offset above. Offsetting of Derivative Assets as of December 31, 2021 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 $ 9,870 $ $ 9,870 $ 3,218 $ $ 6,652 Offsetting of Derivative Liabilities as of December 31, 2021 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Liabilities Recognized Offset in the presented in the Financial Cash Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Paid Amount Derivatives $ 8,818 $ $ 8,818 $ 3,218 $ 5,600 $ 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. As of September 30, 2022, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was $2.2 million. As of December 31, 2021, the termination value of derivatives in a net liability position, which includes accrued interest but excludes any adjustment for nonperformance risk, related to these agreements was collateral posting thresholds with certain of its derivative counterparties, and had posted collateral of $7.8 million with dealer counterparties at September 30, 2022 and December 31, 2021. Cash collateral represents the amount that cannot be used to offset our derivative assets and liabilities from a gross basis to a net basis in accordance with the agreement. The cash collateral is exchanged under bilateral collateral and master netting agreements that allow us to offset the net derivative position with the related collateral. The application of the cash collateral cannot reduce the net derivative position below zero. Therefore, excess other collateral, if any, is not reflected above. If the Company had breached any of these provisions it could have been required to settle its obligations under the agreements at the termination value.

Deposits

Deposits	9 Months Ended
Deposits	Sep. 30, 2022
Deposits.
Deposits	10. Deposits The major components of interest-bearing and noninterest-bearing deposits at September 30, 2022 and December 31, 2021 are summarized as follows: At the period end September 30, 2022 December 31, 2021 Interest-bearing deposits: Money market accounts $ 706,947 $ 588,245 Now accounts 813,743 851,086 Savings accounts 530,124 491,796 Time deposits less than $250 224,517 203,719 Time deposits $250 or more 78,874 90,795 Total interest-bearing deposits 2,354,205 2,225,641 Noninterest-bearing deposits 769,935 737,756 Total deposits $ 3,124,140 $ 2,963,397 Total deposits increased $160.7 million from December 31, 2021 due to an increase of $128.6 million to interest-bearing deposits and $32.1 million increase to noninterest-bearing deposits. Money market deposits increased $118.7 million, savings accounts increased $38.3 million and time deposits less than $250 thousand increased $20.8 million. Non-maturity deposits, including non-interest checking, money markets and savings accounts increased in part due to growth of new customer relationships in our newest markets in Pittsburgh, Pennsylvania and Piscataway, New Jersey and to depositors holding more cash . Brokered deposits added during the nine months ended September 30, 2022 totaled $33.3 million and were used to offset a portion of the deposit outflows and lock-in then current interest rates during the second quarter 2022, as our expectation is for interest rates to continue to increase throughout the remainder of 2022. Of the brokered deposits added since December 31, 2021, $11.4 million are callable which gives the Bank the option to call the certificates of deposit after the initial three month term.

Borrowings

Borrowings	9 Months Ended
Borrowings	Sep. 30, 2022
Borrowings
Borrowings	11. Borrowings Short-term borrowings consist of FHLB advances representing overnight borrowings or with stated original terms of less than twelve months and other borrowings related to collateral held from derivative counterparties. Total short-term borrowings at September 30, 2022 were $14.7 million as compared to no short-term borrowings at December 31, 2021. Other borrowings, which include cash collateral pledged by derivative counterparties to offset interest rate exposure, totaled $14.7 million and increased due to higher market interest rates. The table below outlines short-term borrowings at and for the nine months ended September 30, 2022 and for the year ended December 31, 2021: At and for the nine months ended September 30, 2022 Weighted Maximum Weighted Average Ending Average Month-End Average Rate at End Balance Balance Balance Rate of the Period Other borrowings $ 14,700 $ 8,434 $ 14,700 1.17 % 3.08 % FHLB advances 31,967 125,975 2.11 % Total short-term borrowings $ 14,700 $ 40,401 $ 140,675 1.92 % 3.08 % At and for the year ended December 31, 2021 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of the Year FHLB advances $ $ 13,973 $ 50,000 0.56 % % 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 September 30, 2022, the maximum borrowing capacity was $1.1 billion of which $1.1 million was outstanding in borrowings and $383.2 million was used to issue standby letters of credit to collateralize public fund deposits. At December 31, 2021, the maximum borrowing capacity was $896.1 million of which $2.7 million was outstanding in borrowings and $373.0 million 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. The overnight borrowing rate resets each day. Long-term debt consisting of one advance from the FHLB at September 30, 2022 and December 31, 2021 is as follows: Interest Rate Due Fixed September 30, 2022 December 31, 2021 March 2023 4.69 $ 1,104 2,711 $ 1,104 $ 2,711 Maturities of long-term debt, by contractual maturity, for the remainder of 2022 and subsequent years are as follows: 2022 $ 549 2023 555 $ 1,104 The advance from the FHLB totaling $1.1 million is not convertible.

Subordinated debt

Subordinated debt	9 Months Ended
Subordinated debt	Sep. 30, 2022
Subordinated debt
Subordinated debt	12. Subordinated debt On June 1, 2020, the Company sold $33.0 million aggregate principal amount of Subordinated Notes due 2030 (the “2020 Notes”) to accredited investors. The 2020 Notes qualify as Tier 2 capital for regulatory capital purposes. The 2020 Notes bear interest at a rate of 5.375% per year for the first five years and then float based on a benchmark rate (as defined), provided that the interest rate applicable to the outstanding principal balance during the period the 2020 Notes are floating will at no time be less the 4.75% . Interest is payable semi-annually in arrears on June 1 and December 1 of each year, beginning on June 1, 2020, for the first five years after issuance and will be payable quarterly in arrears thereafter on March 1, June 1, September 1, and December 1. The 2020 Notes will mature on June 1, 2030 and are redeemable in whole or in part, without premium or penalty, at any time on or after June 1, 2025 and prior to June 1, 2030. Additionally, if all or any portion of the 2020 Notes cease to be deemed Tier 2 Capital, the Company may redeem, in whole and not in part, at any time upon giving not less than ten days ’ notice, an amount equal to one hundred percent ( 100% ) of the principal amount outstanding plus accrued but unpaid interest to but excluding the date fixed for redemption. Holders of the 2020 Notes may not accelerate the maturity of the 2020 Notes, except upon the bankruptcy, insolvency, liquidation, receivership or similar proceeding by or against the Company or the Bank.

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
Summary of significant accounting policies (Policies)	Sep. 30, 2022
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 (“the Bank”), collectively, the “Company” or “Peoples”. The Company services its retail and commercial customers through
Basis of presentation	Basis of presentation: The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 10-01 of Regulation S-X. In the opinion of management, all normal recurring adjustments necessary for a fair presentation of the consolidated financial position and results of operations for the periods presented have been included. All significant intercompany balances and transactions have been eliminated in consolidation. Prior-period amounts are reclassified when necessary to conform to the current year’s presentation. These reclassifications did not have any effect on the consolidated operating results or financial position of the Company. The consolidated operating results and financial position of the Company for the three and nine months ended and as of September 30, 2022, are not necessarily indicative of the results of consolidated operations and financial position that may be expected in the future. 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 deferred tax assets, and impairment of goodwill. Actual results could differ from those estimates. For additional information and disclosures required under GAAP, reference is made to the Company’s Annual Report on Form 10-K for the period ended December 31, 2021.
Fourth Quarter Dividend Declaration	Fourth Quarter Dividend Decl aration On October 28, 2022, the Board of Directors declared a fourth quarter dividend of $0.40 per share. The dividend is payable on December 15, 2022 to shareholders of record as of November 30, 2022.
Recent accounting standards and Recently Issued But Not Yet Effective Accounting Pronouncements	Recent accounting standards: From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board ("FASB") or other standard setting bodies that are adopted by the Company as of the required effective dates. The following should be read in conjunction with "Note 1 Summary of significant accounting policies" of the Notes to the Consolidated Financial Statements included in the Company’s annual report on Form 10-K for the year ended December 31, 2021. Unless otherwise discussed, management believes the impact of any recently issued standards, including those issued but not yet effective, will not have a material impact on the Company’s consolidated financial statements. Recently Issued But Not Yet Effective Accounting Pronouncements ASU 2016-13, Financial Instruments-Credit Losses (Topic 326), as modified by subsequent ASUs, changes accounting for credit losses on loans receivable and debt securities from an incurred loss methodology to an expected credit loss methodology. Among other things, ASU 2016-13 requires the measurement of all expected credit losses for financial assets held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. Accordingly, ASU 2016-13 requires the use of forward-looking information to form credit loss estimates. Many of the loss estimation techniques applied today will still be permitted, though the inputs to those techniques will change to reflect the full amount of expected credit losses. In addition, ASU 2016-13 amends the accounting for credit losses on debt securities and purchased financial assets with credit deterioration. The effect of implementing this ASU is recorded through a cumulative-effect adjustment to retained earnings. The Company has formed a committee and engaged outside vendors to implement a platform to utilize the alternative loss estimation methodologies in determining the impact that adoption of this standard will have on the Company’s financial condition and results of operations. The Company is required to adopt this guidance effective January 1, 2023. ASU No. 2022-02 Financial Instruments - Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the accounting guidance for troubled debt restructurings (TDRs) by creditors in Subtopic 310-40, Receivables - Troubled Debt Restructurings by Creditors, while adding disclosures for certain loan restructurings by creditors when a borrower is experiencing financial difficulty. This guidance requires an entity to determine whether the modification results in a new loan or a continuation of an existing loan. Additionally, the ASU requires disclosure of current period gross write-offs by year of origination for financing receivables. The Company is required to adopt this guidance effective January 1, 2023. The Company is currently evaluating the impact adoption of this ASU will have on its financial results and will add the required disclosures for gross charge offs in its financial statements upon adoption of the new standard. ASU 2020-04, Reference Rate Reform (Topic 848) provides temporary optional guidance to ease the potential burden in accounting for reference rate reform. The amendments in Update 2020-04 are elective and apply to all entities that have contracts, hedging relationships, and other transactions that reference the London Inter Bank Offered Rate (“LIBOR”) or another reference rate expected to be discontinued. The guidance includes a general principle that permits an entity to consider contract modifications due to reference rate reform to be an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. Some specific optional expedients are as follows: ● Simplifies accounting for contract modifications, including modifications to loans receivable and debt, by prospectively adjusting the effective interest rate. ● Simplifies the assessment of hedge effectiveness and allows hedging relationships affected by reference rate reform to continue. The amendments in ASU 2020-04 are effective as of March 12, 2020 through December 31, 2022. The Company expects to apply the amendments prospectively for applicable loan and other contracts within the effective period of ASU 2020-04.

Other comprehensive income (los

Other comprehensive income (loss) (Tables)	9 Months Ended
Other comprehensive income (loss) (Tables)	Sep. 30, 2022
Other comprehensive loss
Schedule of components of accumulated other comprehensive income (loss)	September 30, 2022 December 31, 2021 Net unrealized loss on investment securities available-for-sale $ (74,582) $ (1,791) Income tax benefit (15,662) (376) Net of income taxes (58,920) (1,415) Benefit plan adjustments (5,868) (5,868) Income tax benefit (1,232) (1,232) Net of income taxes (4,636) (4,636) Derivative adjustments (60) 680 Income tax (benefit) expense (13) 143 Net of income taxes (47) 537 Accumulated other comprehensive loss $ (63,603) $ (5,514)

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
Earnings per share (Tables)	Sep. 30, 2022
Earnings per share
Schedule of earnings per share	2022 2021 For the Three Months Ended September 30, Basic Diluted Basic Diluted Net income $ 9,968 $ 9,968 $ 9,096 $ 9,096 Average common shares outstanding 7,169,809 7,213,147 7,198,125 7,233,189 Earnings per share $ 1.39 $ 1.38 $ 1.26 $ 1.26 2022 2021 For the Nine Months Ended September 30, Basic Diluted Basic Diluted Net income $ 28,951 $ 28,951 $ 27,105 $ 27,105 Average common shares outstanding 7,171,382 7,214,966 7,204,399 7,239,463 Earnings per share $ 4.04 $ 4.01 $ 3.76 $ 3.74

Investment securities (Tables)

Investment securities (Tables)	9 Months Ended
Investment securities (Tables)	Sep. 30, 2022
Investment Securities
Schedule of amortized cost and fair value of investment securities aggregated by investment category	Gross Gross Amortized Unrealized Unrealized Fair September 30, 2022 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 247,812 $ $ 23,476 $ 224,336 U.S. government-sponsored enterprises 16,976 625 16,351 State and municipals: Taxable 69,913 1 13,680 56,234 Tax-exempt 100,078 1 15,493 84,586 Residential mortgage-backed securities: U.S. government agencies 1,130 39 1,091 U.S. government-sponsored enterprises 100,020 20,312 79,708 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 12,243 564 11,679 Corporate debt securities 4,000 395 3,605 Total $ 552,172 $ 2 $ 74,584 $ 477,590 Held-to-maturity: Tax-exempt state and municipals $ 11,247 $ $ 1,286 $ 9,961 Residential mortgage-backed securities: U.S. government agencies 17,732 2,679 15,053 U.S. government-sponsored enterprises 63,792 10,294 53,498 Total $ 92,771 $ $ 14,259 $ 78,512 Gross Gross Amortized Unrealized Unrealized Fair December 31, 2021 Cost Gains Losses Value Available-for-sale: U.S. Treasury securities $ 193,849 $ 107 $ 2,382 $ 191,574 U.S. government-sponsored enterprises 33,435 343 33,778 State and municipals: Taxable 69,066 994 1,082 68,978 Tax-exempt 96,412 2,452 614 98,250 Residential mortgage-backed securities: U.S. government agencies 1,790 53 1,843 U.S. government-sponsored enterprises 109,018 939 2,925 107,032 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 12,542 406 12,948 Corporate debt securities 3,000 82 2,918 Total $ 519,112 $ 5,294 $ 7,085 $ 517,321 Held-to-maturity: Tax-exempt state and municipals $ 11,476 $ 126 $ 56 $ 11,546 Residential mortgage-backed securities: U.S. government agencies 18,802 392 18,410 U.S. government-sponsored enterprises 40,935 3 448 40,490 Total $ 71,213 $ 129 $ 896 $ 70,446
Schedule of fair value and unrealized losses of investment securities in continuous unrealized loss position	Less Than 12 Months 12 Months or Greater Total Number of Number of Number of Securities in a Fair Unrealized Securities in a Fair Unrealized Securities in a Fair Unrealized September 30, 2022 Loss Position Value Losses Loss Position Value Losses Loss Position Value Losses U.S. Treasury securities 16 $ 83,156 $ 5,372 37 $ 141,180 $ 18,104 53 $ 224,336 $ 23,476 U.S. government-sponsored enterprises 5 16,351 625 5 16,351 625 State and municipals: Taxable 32 27,779 4,951 34 26,547 8,729 66 54,326 13,680 Tax-exempt 74 57,580 7,835 58 35,886 8,944 132 93,466 16,779 Residential mortgage-backed securities: U.S. government agencies 6 1,098 39 3 15,046 2,679 9 16,144 2,718 U.S. government-sponsored enterprises 26 54,953 9,141 16 78,254 21,465 42 133,207 30,606 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4 11,679 564 4 11,679 564 Corporate debt securities 1 947 53 5 2,658 342 6 3,605 395 Total 164 $ 253,543 $ 28,580 153 $ 299,571 $ 60,263 317 $ 553,114 $ 88,843 Less Than 12 Months 12 Months or Greater Total Number of Number of Number of Securities in a Fair Unrealized Securities in a Fair Unrealized Securities in a Fair Unrealized December 31, 2021 Loss Position Value Losses Loss Position Value Losses Loss Position Value Losses U.S. Treasury securities 42 $ 179,974 $ 2,382 $ $ 42 $ 179,974 $ 2,382 State and municipals: Taxable 27 26,827 718 8 8,008 364 35 34,835 1,082 Tax-exempt 61 38,693 357 2 10,319 313 63 49,012 670 Residential mortgage-backed securities: U.S. government agencies 3 18,398 392 3 18,398 392 U.S. government-sponsored enterprises 13 77,875 1,454 7 48,276 1,919 20 126,151 3,373 Corporate debt securities 4 2,449 51 1 470 31 5 2,919 82 Total 150 $ 344,216 $ 5,354 18 $ 67,073 $ 2,627 168 $ 411,289 $ 7,981
Available-for-Sale Securities
Investment Securities
Schedule of maturity distribution of fair value	Fair September 30, 2022 Value Within one year $ 18,608 After one but within five years 204,991 After five but within ten years 74,710 After ten years 84,516 382,825 Mortgage-backed and other amortizing securities 94,765 Total $ 477,590
Held-to-maturity Securities.
Investment Securities
Schedule of maturity distribution of fair value	Amortized Fair September 30, 2022 Cost Value After five but within ten years $ 8,294 $ 7,410 After ten years 2,953 2,551 11,247 9,961 Mortgage-backed securities 81,524 68,551 Total $ 92,771 $ 78,512

Loans, net and allowance for _2

Loans, net and allowance for loan losses (Tables)	9 Months Ended
Loans, net and allowance for loan losses (Tables)	Sep. 30, 2022
Loans, net and allowance for loan losses
Schedule of major classifications of loans outstanding	At the period end September 30, 2022 December 31, 2021 Commercial Taxable $ 371,164 $ 424,455 Non-taxable 224,764 188,672 Total 595,928 613,127 Real estate Commercial 1,620,116 1,343,539 Residential 326,223 297,624 Total 1,946,339 1,641,163 Consumer Indirect Auto 70,006 65,791 Consumer Other 11,433 9,092 Total 81,439 74,883 Total $ 2,623,706 $ 2,329,173
Schedule of changes in allowance for loan losses account by major classification of loans	The changes in the allowance for loan losses account by major classification of loan for the three and nine months ended September 30, 2022 and 2021 are summarized as follows: Real estate September 30, 2022 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance July 1, 2022 $ 7,766 $ 17,569 $ 3,220 $ 819 $ 29,374 Charge-offs (15) (86) (101) Recoveries 10 32 1 56 99 Provisions (credits) (5) 437 9 9 450 Ending balance $ 7,771 $ 18,023 $ 3,230 $ 798 $ 29,822 Real estate September 30, 2021 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance July 1, 2021 $ 8,520 $ 14,281 $ 3,069 $ 869 $ 26,739 Charge-offs (446) (12) (8) (466) Recoveries 4 1 15 20 Provisions (credits) (164) 519 92 (47) 400 Ending balance $ 7,914 $ 14,789 $ 3,161 $ 829 $ 26,693 Real estate September 30, 2022 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance January 1, 2022 $ 8,453 $ 15,928 $ 3,209 $ 793 $ 28,383 Charge-offs (161) (147) (2) (244) (554) Recoveries 39 109 4 141 293 Provisions (credits) (560) 2,133 19 108 1,700 Ending balance $ 7,771 $ 18,023 $ 3,230 $ 798 $ 29,822 Real estate September 30, 2021 Commercial Commercial Residential Consumer Total Allowance for loan losses: Beginning Balance January 1, 2021 $ 8,734 $ 14,559 $ 3,129 $ 922 $ 27,344 Charge-offs (461) (252) (24) (114) (851) Recoveries 83 67 2 48 200 Provisions (credits) (442) 415 54 (27) — Ending balance $ 7,914 $ 14,789 $ 3,161 $ 829 $ 26,693 The allocation of the allowance for loan losses and the related loans by major classifications of loans at September 30, 2022 and December 31, 2021 is summarized as follows: Real estate September 30, 2022 Commercial Commercial Residential Consumer Total Allowance for loan losses: Ending balance $ 7,771 $ 18,023 $ 3,230 $ 798 $ 29,822 Ending balance: individually evaluated for impairment 19 1 21 41 Ending balance: collectively evaluated for impairment $ 7,752 $ 18,022 $ 3,209 $ 798 $ 29,781 Loans receivable: Ending balance $ 595,928 $ 1,620,116 $ 326,223 $ 81,439 $ 2,623,706 Ending balance: individually evaluated for impairment 114 2,721 1,161 3,996 Ending balance: collectively evaluated for impairment $ 595,814 $ 1,617,395 $ 325,062 $ 81,439 $ 2,619,710 Real estate December 31, 2021 Commercial Commercial Residential Consumer Total Allowance for loan losses: Ending balance $ 8,453 $ 15,928 $ 3,209 $ 793 $ 28,383 Ending balance: individually evaluated for impairment 40 109 26 175 Ending balance: collectively evaluated for impairment $ 8,413 $ 15,819 $ 3,183 $ 793 $ 28,208 Loans receivable: Ending balance $ 613,127 $ 1,343,539 $ 297,624 $ 74,883 $ 2,329,173 Ending balance: individually evaluated for impairment 199 2,889 1,274 4,362 Ending balance: collectively evaluated for impairment $ 612,928 $ 1,340,650 $ 296,350 $ 74,883 $ 2,324,811
Schedule of major classification of loans portfolio summarized by credit quality	Special September 30, 2022 Pass Mention Substandard Doubtful Total Commercial $ 587,033 $ 8,065 $ 830 $ $ 595,928 Real estate: Commercial 1,606,076 7,722 6,318 1,620,116 Residential 324,452 114 1,657 326,223 Consumer 81,170 269 81,439 Total $ 2,598,731 $ 15,901 $ 9,074 $ $ 2,623,706 Special December 31, 2021 Pass Mention Substandard Doubtful Total Commercial $ 611,151 $ 896 $ 1,080 $ $ 613,127 Real estate: Commercial 1,324,646 13,939 4,954 1,343,539 Residential 294,892 333 2,399 297,624 Consumer 74,744 139 74,883 Total $ 2,305,433 $ 15,168 $ 8,572 $ $ 2,329,173
Schedule of information concerning nonaccrual loans by major loan classification	September 30, 2022 December 31, 2021 Commercial $ 102 $ 185 Real estate: Commercial 1,787 1,793 Residential 423 694 Consumer 245 139 Total $ 2,557 $ 2,811
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 September 30, 2022 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 35 $ $ 102 $ 137 $ 595,791 $ 595,928 $ Real estate: Commercial 146 605 330 1,081 1,619,035 1,620,116 Residential 341 640 565 1,546 324,677 326,223 280 Consumer 405 234 98 737 80,702 81,439 Total $ 927 $ 1,479 $ 1,095 $ 3,501 $ 2,620,205 $ 2,623,706 $ 280 Improved credit quality resulted in lower levels of past due loans from year end. Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and December 31, 2021 Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 101 155 $ 158 $ 414 $ 612,713 $ 613,127 $ Real estate: Commercial 768 $ 423 834 2,025 1,341,514 1,343,539 Residential 1,552 207 265 2,024 295,600 297,624 13 Consumer 477 163 51 691 74,192 74,883 Total $ 2,898 $ 948 $ 1,308 $ 5,154 $ 2,324,019 $ 2,329,173 $ 13
Summarized information concerning impaired loans	This Quarter Year-to-Date Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income September 30, 2022 Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance: Commercial $ 94 $ 425 $ 110 $ 3 $ 129 $ 7 Real estate: Commercial 2,389 3,193 2,431 9 2,497 31 Residential 918 1,102 957 6 915 16 Consumer 245 256 258 215 Total 3,646 4,976 3,756 18 3,756 54 With an allowance recorded: Commercial 20 20 $ 19 27 — 29 — Real estate: Commercial 332 332 1 381 7 429 15 Residential 243 247 21 257 3 297 9 Total 595 599 41 665 10 755 24 Total impaired loans Commercial 114 445 19 137 3 158 7 Real estate: Commercial 2,721 3,525 1 2,812 16 2,926 46 Residential 1,161 1,349 21 1,214 9 1,212 25 Consumer 245 256 258 215 Total $ 4,241 $ 5,575 $ 41 $ 4,421 $ 28 $ 4,511 $ 78 For the Year Ended Unpaid Average Interest Recorded Principal Related Recorded Income December 31, 2021 Investment Balance Allowance Investment Recognized With no related allowance: Commercial $ 158 $ 481 $ 964 $ 13 Real estate: Commercial 2,376 3,120 2,719 22 Residential 873 1,073 1,016 19 Consumer 139 148 100 Total 3,546 4,822 4,799 54 With an allowance recorded: Commercial 41 41 40 1,091 15 Real estate: Commercial 513 543 109 802 22 Residential 401 401 26 436 13 Consumer Total 955 985 175 2,329 50 Total impaired loans Commercial 199 522 40 2,055 28 Real estate: Commercial 2,889 3,663 109 3,521 44 Residential 1,274 1,474 26 1,452 32 Consumer 139 148 100 Total $ 4,501 $ 5,807 $ 175 $ 7,128 $ 104 This Quarter Year-to-Date Unpaid Average Interest Average Interest Recorded Principal Related Recorded Income Recorded Income September 30, 2021 Investment Balance Allowance Investment Recognized Investment Recognized With no related allowance: Commercial $ 634 $ 1,097 $ 870 $ 2 $ 1,166 $ 9 Real estate: Commercial 2,560 3,275 2,785 4 2,805 19 Residential 991 1,184 999 5 1,051 15 Consumer 82 96 79 91 Total 4,267 5,652 4,733 11 5,113 43 With an allowance recorded: Commercial 424 424 $ 18 695 5 1,354 15 Real estate: Commercial 534 564 107 604 4 875 14 Residential 440 446 41 450 3 445 10 Consumer Total 1,398 1,434 166 1,749 12 2,674 39 Total impaired loans Commercial 1,058 1,521 18 1,565 7 2,520 24 Real estate: Commercial 3,094 3,839 107 3,389 8 3,680 33 Residential 1,431 1,630 41 1,449 8 1,496 25 Consumer 82 96 79 91 Total $ 5,665 $ 7,086 $ 166 $ 6,482 $ 23 $ 7,787 $ 82

Other assets (Tables)

Other assets (Tables)	9 Months Ended
Other assets (Tables)	Sep. 30, 2022
Other assets
Schedule of components of other assets	September 30, 2022 December 31, 2021 Other real estate owned $ 121 $ 609 Investment in low income housing partnership 5,539 5,900 Mortgage servicing rights 931 882 Restricted equity securities (FHLB and other) 4,502 4,045 Net deferred tax asset 20,793 5,355 Interest rate floor 4 844 Interest rate swaps 22,807 9,026 Other assets 7,838 6,395 Total $ 62,535 $ 33,056

Fair value estimates (Tables)

Fair value estimates (Tables)	9 Months Ended
Fair value estimates (Tables)	Sep. 30, 2022
Fair value estimates
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 September 30, 2022 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 224,336 $ 224,336 $ $ U.S. government-sponsored enterprises 16,351 16,351 State and municipals: Taxable 56,234 56,234 Tax-exempt 84,586 84,586 Mortgage-backed securities: U.S. government agencies 1,091 1,091 U.S. government-sponsored enterprises 91,387 91,387 Corporate debt securities 3,605 3,605 Common equity securities 103 103 Total investment securities $ 477,693 $ 224,439 $ 253,254 $ Loan held for sale $ 653 $ 653 Interest rate floor-other assets $ 4 $ 4 Interest rate swap-other assets $ 22,953 $ 22,953 Interest rate swap-other liabilities $ (22,089) $ (22,089) Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable Identical Assets Inputs Inputs December 31, 2021 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 191,574 $ 191,574 $ U.S. government-sponsored enterprises 33,778 $ 33,778 State and municipals: Taxable 68,978 68,978 Tax-exempt 98,250 98,250 Mortgage-backed securities: U.S. government agencies 1,843 1,843 U.S. government-sponsored enterprises 119,980 119,980 Corporate debt securities 2,918 2,918 Common equity securities 140 140 Total investment securities $ 517,461 $ 191,714 $ 325,747 $ Loan held for sale $ 408 $ 408 Interest rate floor-other assets $ 844 $ 844 Interest rate swap-other assets $ 9,026 $ 9,026 Interest rate swap-other liabilities $ (8,811) $ (8,811)
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 September 30, 2022 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 553 $ 553 Fair Value Measurement Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable Identical Assets Inputs Inputs December 31, 2021 Amount (Level 1) (Level 2) (Level 3) Impaired loans $ 780 $ 780 Other real estate owned $ 487 $ 487
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 September 30, 2022 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 553 Appraisal of collateral Appraisal adjustments 21.6% to 97.0% (70.6)% Liquidation expenses 3.0% to 6.0% (5.2)% Quantitative Information about Level 3 Fair Value Measurements Fair Value Range December 31, 2021 Estimate Valuation Techniques Unobservable Input (Weighted Average) Impaired loans $ 780 Appraisal of collateral Appraisal adjustments 6.4% to 97.0% (65.2)% Liquidation expenses 3.0% to 6.0% (5.1)% Other real estate owned $ 487 Appraisal of collateral Appraisal adjustments 35.9% to 35.9% (35.9)% 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 September 30, 2022 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and due from banks $ 113,010 $ 113,010 $ 113,010 Investment securities: Available-for-sale 477,590 477,590 224,336 $ 253,254 Common equity securities 103 103 103 Held-to-maturity 92,771 78,512 78,512 Loans held for sale 653 653 653 Net loans 2,593,884 2,508,050 $ 2,508,050 Accrued interest receivable 10,082 10,082 10,082 Mortgage servicing rights 931 1,433 1,433 Restricted equity securities (FHLB and other) 4,502 4,502 4,502 Interest rate floor 4 4 4 Interest rate swaps 22,953 22,953 22,953 Total $ 3,316,483 $ 3,216,892 Financial liabilities: Deposits $ 3,124,140 $ 3,113,415 $ 3,113,415 Short-term borrowings 14,700 14,700 14,700 Long-term debt 1,104 1,106 1,106 Subordinated debentures 33,000 33,211 33,211 Accrued interest payable 1,129 1,129 1,129 Interest rate swaps 22,089 22,089 22,089 Total $ 3,196,162 $ 3,185,650 Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Carrying Fair Assets Inputs Inputs December 31, 2021 Value Value (level 1) (level 2) (Level 3) Financial assets: Cash and due from banks $ 279,933 $ 279,933 $ 279,933 Investment securities: Available-for-sale 517,321 517,321 191,574 $ 325,747 Common equity securities 140 140 140 Held-to-maturity 71,213 70,446 70,446 Loans held for sale 408 408 408 Net loans 2,300,790 2,261,586 $ 2,261,586 Accrued interest receivable 8,528 8,528 8,528 Mortgage servicing rights 882 1,357 1,357 Restricted equity securities (FHLB and other) 4,045 4,045 4,045 Interest rate floor 844 844 844 Interest rate swaps 9,026 9,026 9,026 Total $ 3,193,130 $ 3,153,634 Financial liabilities: Deposits $ 2,963,397 $ 2,963,547 $ 2,963,547 Long-term debt 2,711 2,778 2,778 Subordinated debentures 33,000 32,337 32,337 Accrued interest payable 408 408 408 Interest rate swaps 8,811 8,811 8,811 Total $ 3,008,327 $ 3,007,881

Employee benefit plans (Tables)

Employee benefit plans (Tables)	9 Months Ended
Employee benefit plans (Tables)	Sep. 30, 2022
Employee benefit plans
Schedule of components of net periodic benefit cost	Pension Benefits Three Months Ended September 30, 2022 2021 Components of net periodic pension benefit: Interest cost $ 114 $ 105 Expected return on plan assets (352) (322) Amortization of unrecognized net gain 50 76 Net periodic benefit $ (188) $ (141) Pension Benefits Nine Months Ended September 30, 2022 2021 Components of net periodic pension benefit: Interest cost $ 342 $ 315 Expected return on plan assets (1,056) (966) Amortization of unrecognized net gain 149 227 Net periodic benefit $ (565) $ (424)

Derivatives and hedging activ_2

Derivatives and hedging activities (Tables)	9 Months Ended
Derivatives and hedging activities (Tables)	Sep. 30, 2022
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 September 30, 2022 (1) As of December 31, 2021 (1) As of September 30, 2022 (2) As of December 31, 2021 (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 $ 4 Other Assets $ 844 Total derivatives designated as hedging instruments $ 4 $ 844 $ $ Derivatives not Interest Rate Swaps (2) $ 386,171 Other Assets $ 22,953 Other Assets $ 9,026 Other Liabilities $ 22,089 Other Liabilities $ 8,811 Total derivatives not $ 22,953 $ 9,026 $ 22,089 $ 8,811 (1) Amounts include accrued interest. (2) Notional amount of interest rate swaps at December 31, 2021 was $392,677 .
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) (Loss) (Loss) Recognized from Gain 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 September 30, 2022 Income September 30, 2022 Derivatives in Cash Flow Hedging Relationships Cash Flow Swap Other expense Interest Rate Floor () $ (512) $ (497) $ (15) Interest Income $ 228 $ 276 $ (48) Total $ (512) $ (497) $ (15) $ 228 $ 276 $ (48) Location of Amount of Amount of Amount of Amount of Amount of Gain or (Loss) Amount of Gain (Loss) Loss Gain (Loss) Gain (Loss) Gain Recognized from Gain (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 September 30, 2021 Income September 30, 2021 Derivatives in Cash Flow Hedging Relationships Cash Flow Swap $ 401 $ 401 Interest Expense $ (23) $ (23) Cash Flow Swap Other Expense (25) (25) Interest Rate Floor () $ (66) $ (70) $ 4 Interest Income $ 405 $ 453 $ (48) Total $ 335 $ 331 $ 4 $ 357 $ 405 $ (48) * 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 For the three months ended September 30, 2022 2022 2021 2021 Interest Income Interest Expense Interest Income Interest Expense 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 $ 4 $ $ 137 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 $ 4 $ $ 137 $ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component $ 20 $ $ 153 $ Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component $ (16) $ (16) $ Location and Amount of Gain or (Loss) Recognized in Income on Fair Value and Cash Flow Hedging Relationships For the nine months ended September 30, 2022 2022 2021 2021 Interest Income Interest Expense Interest Income Interest Expense 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 $ 228 $ $ 405 $ (48) 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 $ 228 $ $ 405 $ (23) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring $ (25) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component $ 276 $ $ 453 $ (48) Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component $ (48) $ (48) $
Schedule of gain (loss) on derivative instruments not designated as hedging instruments	Amount of Gain Amount of Gain Amount of Gain Amount of Loss Recognized in Recognized in Recognized in Recognized in Location of Gain or (Loss) Income Income Income Income Recognized in Income on Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended Derivatives Not Designated as Hedging Instruments Derivative September 30, 2022 September 30, 2022 September 30, 2021 September 30, 2021 Interest Rate Swaps Interest rate swap revenue $ 129 $ 652 $ 7 $ 175 Other Contracts 1 4 Total $ 130 $ 656 $ 7 $ 175 Fee Income Fee income $ 2 $ 106 $ 72 $ 569
Schedule of offsetting derivatives	Offsetting of Derivative Assets as of September 30, 2022 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 $ 22,957 $ $ 22,957 $ $ 14,700 $ 8,257 Offsetting of Derivative Liabilities as of September 30, 2022 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Liabilities Recognized Offset in the presented in the Financial Cash Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Paid* Amount Derivatives $ 22,089 $ $ 22,089 $ 22,089 $ $ *Cash collateral of $7,830 was paid but not presented as an offset above. Offsetting of Derivative Assets as of December 31, 2021 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 $ 9,870 $ $ 9,870 $ 3,218 $ $ 6,652 Offsetting of Derivative Liabilities as of December 31, 2021 Gross Amounts Not Offset in the Balance Sheet Gross Net Amounts Amounts of Gross Amounts of Liabilities Recognized Offset in the presented in the Financial Cash Collateral Net Liabilities Balance Sheet Balance Sheet Instruments Paid Amount Derivatives $ 8,818 $ $ 8,818 $ 3,218 $ 5,600 $

Deposits (Tables)

Deposits (Tables)	9 Months Ended
Deposits (Tables)	Sep. 30, 2022
Deposits.
Summary of major components of interest-bearing and noninterest-bearing deposits	At the period end September 30, 2022 December 31, 2021 Interest-bearing deposits: Money market accounts $ 706,947 $ 588,245 Now accounts 813,743 851,086 Savings accounts 530,124 491,796 Time deposits less than $250 224,517 203,719 Time deposits $250 or more 78,874 90,795 Total interest-bearing deposits 2,354,205 2,225,641 Noninterest-bearing deposits 769,935 737,756 Total deposits $ 3,124,140 $ 2,963,397

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
Borrowings (Tables)	Sep. 30, 2022
Borrowings
Summary of short-term borrowings	At and for the nine months ended September 30, 2022 Weighted Maximum Weighted Average Ending Average Month-End Average Rate at End Balance Balance Balance Rate of the Period Other borrowings $ 14,700 $ 8,434 $ 14,700 1.17 % 3.08 % FHLB advances 31,967 125,975 2.11 % Total short-term borrowings $ 14,700 $ 40,401 $ 140,675 1.92 % 3.08 % At and for the year ended December 31, 2021 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End Balance Balance Balance the Year of the Year FHLB advances $ $ 13,973 $ 50,000 0.56 % %
Schedule of long-term debt consisting of advances	Interest Rate Due Fixed September 30, 2022 December 31, 2021 March 2023 4.69 $ 1,104 2,711 $ 1,104 $ 2,711
Schedule of maturities of long-term debt	2022 $ 549 2023 555 $ 1,104

Summary of significant accoun_3

Summary of significant accounting policies - Nature of operations and Basis of presentation (Details)		3 Months Ended						9 Months Ended
	Oct. 28, 2022 $ / shares	Sep. 30, 2022 $ / shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Sep. 30, 2021 $ / shares	Jun. 30, 2021 $ / shares	Mar. 31, 2021 $ / shares	Sep. 30, 2022 Office $ / shares	Sep. 30, 2021 $ / shares
Summary of significant accounting policies
Number of full-service community banking offices \| Office								28
Dividends declared \| $ / shares	$ 0.40	$ 0.40	$ 0.39	$ 0.39	$ 0.38	$ 0.37	$ 0.37	$ 1.18	$ 1.12

Other comprehensive loss - Comp

Other comprehensive loss - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Other comprehensive loss
Net unrealized loss on investment securities available-for-sale	$ (74,582)	$ (1,791)
Income tax benefit	(15,662)	(376)
Net of income taxes	(58,920)	(1,415)
Benefit plan adjustments	(5,868)	(5,868)
Income tax benefit	1,232	1,232
Net of income taxes	(4,636)	(4,636)
Derivative adjustments	(60)	680
Income tax (benefit) expense	(13)	143
Net of income taxes	(47)	537
Accumulated other comprehensive loss	$ (63,603)	$ (5,514)

Earnings per share - Schedule o

Earnings per share - Schedule of Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings per share
Net income, Basic	$ 9,968	$ 9,096	$ 28,951	$ 27,105
Average common shares outstanding - basic	7,169,809	7,198,125	7,171,382	7,204,399
Net income - basic	$ 1.39	$ 1.26	$ 4.04	$ 3.76
Net income, Diluted	$ 9,968	$ 9,096	$ 28,951	$ 27,105
Average common shares outstanding - diluted	7,213,147	7,233,189	7,214,966	7,239,463
Net income - diluted	$ 1.38	$ 1.26	$ 4.01	$ 3.74

Investment securities - Amortiz

Investment securities - Amortized Cost and Fair Value of Investment Securities Aggregated by Investment Category (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment Securities
Available-for-sale, Amortized Cost	$ 552,172	$ 519,112
Available-for-sale, Gross Unrealized Gains	2	5,294
Available-for-sale, Gross Unrealized Losses	74,584	7,085
Available-for-sale, Fair Value	477,590	517,321
Held-to-maturity, Amortized Cost	92,771	71,213
Held-to-maturity, Gross Unrealized Gains		129
Held-to-maturity, Gross Unrealized Losses	14,259	896
Held-to-maturity, Fair value	78,512	70,446
U.S. Treasury securities
Investment Securities
Available-for-sale, Amortized Cost	247,812	193,849
Available-for-sale, Gross Unrealized Gains		107
Available-for-sale, Gross Unrealized Losses	23,476	2,382
Available-for-sale, Fair Value	224,336	191,574
U.S. Government-sponsored enterprises state and municipals
Investment Securities
Available-for-sale, Amortized Cost	16,976	33,435
Available-for-sale, Gross Unrealized Gains		343
Available-for-sale, Gross Unrealized Losses	625
Available-for-sale, Fair Value	16,351	33,778
State and Municipals, Taxable
Investment Securities
Available-for-sale, Amortized Cost	69,913	69,066
Available-for-sale, Gross Unrealized Gains	1	994
Available-for-sale, Gross Unrealized Losses	13,680	1,082
Available-for-sale, Fair Value	56,234	68,978
State and Municipals, Tax-exempt
Investment Securities
Available-for-sale, Amortized Cost	100,078	96,412
Available-for-sale, Gross Unrealized Gains	1	2,452
Available-for-sale, Gross Unrealized Losses	15,493	614
Available-for-sale, Fair Value	84,586	98,250
State and Municipals Tax-exempt Bonds
Investment Securities
Held-to-maturity, Amortized Cost	11,247	11,476
Held-to-maturity, Gross Unrealized Gains		126
Held-to-maturity, Gross Unrealized Losses	1,286	56
Held-to-maturity, Fair value	9,961	11,546
Mortgage-backed Securities, U.S. Government agencies
Investment Securities
Available-for-sale, Amortized Cost	1,130	1,790
Available-for-sale, Gross Unrealized Gains		53
Available-for-sale, Gross Unrealized Losses	39
Available-for-sale, Fair Value	1,091	1,843
Held-to-maturity, Amortized Cost	17,732	18,802
Held-to-maturity, Gross Unrealized Losses	2,679	392
Held-to-maturity, Fair value	15,053	18,410
Mortgage-backed Securities, U.S. Government-sponsored enterprises
Investment Securities
Available-for-sale, Amortized Cost	100,020	109,018
Available-for-sale, Gross Unrealized Gains		939
Available-for-sale, Gross Unrealized Losses	20,312	2,925
Available-for-sale, Fair Value	79,708	107,032
Held-to-maturity, Amortized Cost	63,792	40,935
Held-to-maturity, Gross Unrealized Gains		3
Held-to-maturity, Gross Unrealized Losses	10,294	448
Held-to-maturity, Fair value	53,498	40,490
Commercial mortgage-backed Securities, U.S. government-sponsored enterprises
Investment Securities
Available-for-sale, Amortized Cost	12,243	12,542
Available-for-sale, Gross Unrealized Gains		406
Available-for-sale, Gross Unrealized Losses	564
Available-for-sale, Fair Value	11,679	12,948
Corporate Debt Securities
Investment Securities
Available-for-sale, Amortized Cost	4,000	3,000
Available-for-sale, Gross Unrealized Losses	395	82
Available-for-sale, Fair Value	$ 3,605	$ 2,918

Investment securities - Maturit

Investment securities - Maturity Distribution of Debt Securities Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment securities
Within one year	$ 18,608
After one but within five years	204,991
After five but within ten years	74,710
After ten years	84,516
Available for sale securities	382,825
Mortgage-backed and other amortizing securities	94,765
Total	$ 477,590	$ 517,321

Investment securities - Summary

Investment securities - Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Amortized Cost of Held-to-maturity Securities
Amortized Cost, After five but within ten years, Held to maturity	$ 8,294
Amortized Cost, After ten years, Held to maturity	2,953
Amortized Cost, Held to maturity	11,247
Amortized Cost, Mortgage-backed securities, Held to maturity	81,524
Held-to-maturity, Amortized Cost	92,771	$ 71,213
Fair Value of Held-to-maturity Securities
Fair Value, After five but within ten years, Held to maturity	7,410
Fair Value, After ten years, Held to maturity	2,551
Fair Value, Held to maturity	9,961
Fair Value, Mortgage-backed securities, Held to maturity	68,551
Held to maturity, Fair Value	$ 78,512	$ 70,446

Investment securities - Pledged

Investment securities - Pledged Securities (Details) - USD ($) $ in Millions	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
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	$ 165.1		$ 203.6
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%		10%

Investment securities - Fair Va

Investment securities - Fair Value and Unrealized Losses of Investment Securities in Continuous Unrealized Loss Position (Details) $ in Thousands	Sep. 30, 2022 USD ($) security	Dec. 31, 2021 USD ($) security
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities	164	150
Less Than 12 Months, Fair Value	$ 253,543	$ 344,216
12 Months or More, Fair Value	$ 299,571	$ 67,073
12 Months or Greater, Number of Securities	153	18
Less Than 12 Months, Unrealized Losses	$ 28,580	$ 5,354
12 Months or More, Unrealized Losses	$ 60,263	$ 2,627
Total, Number of Securities	317	168
Total, Fair Value	$ 553,114	$ 411,289
Total, Unrealized Losses	$ 88,843	$ 7,981
U.S. Treasury securities
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	16	42
Less Than 12 Months, Fair Value	$ 83,156	$ 179,974
12 Months or More, Fair Value	$ 141,180
12 Months or Greater, Number of Securities \| security	37
Less Than 12 Months, Unrealized Losses	$ 5,372	$ 2,382
12 Months or More, Unrealized Losses	$ 18,104
Total, Number of Securities \| security	53	42
Total, Fair Value	$ 224,336	$ 179,974
Total, Unrealized Losses	$ 23,476	$ 2,382
U.S. Government-sponsored enterprises state and municipals
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	5
Less Than 12 Months, Fair Value	$ 16,351
Less Than 12 Months, Unrealized Losses	$ 625
Total, Number of Securities \| security	5
Total, Fair Value	$ 16,351
Total, Unrealized Losses	$ 625
State and Municipals, Taxable
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	32	27
Less Than 12 Months, Fair Value	$ 27,779	$ 26,827
12 Months or More, Fair Value	$ 26,547	$ 8,008
12 Months or Greater, Number of Securities \| security	34	8
Less Than 12 Months, Unrealized Losses	$ 4,951	$ 718
12 Months or More, Unrealized Losses	$ 8,729	$ 364
Total, Number of Securities \| security	66	35
Total, Fair Value	$ 54,326	$ 34,835
Total, Unrealized Losses	$ 13,680	$ 1,082
State and Municipals, Tax-exempt
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	74	61
Less Than 12 Months, Fair Value	$ 57,580	$ 38,693
12 Months or More, Fair Value	$ 35,886	$ 10,319
12 Months or Greater, Number of Securities \| security	58	2
Less Than 12 Months, Unrealized Losses	$ 7,835	$ 357
12 Months or More, Unrealized Losses	$ 8,944	$ 313
Total, Number of Securities \| security	132	63
Total, Fair Value	$ 93,466	$ 49,012
Total, Unrealized Losses	$ 16,779	$ 670
Mortgage-backed Securities, U.S. Government agencies
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	6	3
Less Than 12 Months, Fair Value	$ 1,098	$ 18,398
12 Months or More, Fair Value	$ 15,046
12 Months or Greater, Number of Securities \| security	3
Less Than 12 Months, Unrealized Losses	$ 39	$ 392
12 Months or More, Unrealized Losses	$ 2,679
Total, Number of Securities \| security	9	3
Total, Fair Value	$ 16,144	$ 18,398
Total, Unrealized Losses	$ 2,718	$ 392
Mortgage-backed Securities, U.S. Government-sponsored enterprises
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	26	13
Less Than 12 Months, Fair Value	$ 54,953	$ 77,875
12 Months or More, Fair Value	$ 78,254	$ 48,276
12 Months or Greater, Number of Securities \| security	16	7
Less Than 12 Months, Unrealized Losses	$ 9,141	$ 1,454
12 Months or More, Unrealized Losses	$ 21,465	$ 1,919
Total, Number of Securities \| security	42	20
Total, Fair Value	$ 133,207	$ 126,151
Total, Unrealized Losses	$ 30,606	$ 3,373
Commercial mortgage-backed Securities, U.S. government-sponsored enterprises
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	4
Less Than 12 Months, Fair Value	$ 11,679
Less Than 12 Months, Unrealized Losses	$ 564
Total, Number of Securities \| security	4
Total, Fair Value	$ 11,679
Total, Unrealized Losses	$ 564
Corporate Debt Securities
Available-for-sale and Held-to-maturity securities
Less Than 12 Months, Number of Securities \| security	1	4
Less Than 12 Months, Fair Value	$ 947	$ 2,449
12 Months or More, Fair Value	$ 2,658	$ 470
12 Months or Greater, Number of Securities \| security	5	1
Less Than 12 Months, Unrealized Losses	$ 53	$ 51
12 Months or More, Unrealized Losses	$ 342	$ 31
Total, Number of Securities \| security	6	5
Total, Fair Value	$ 3,605	$ 2,919
Total, Unrealized Losses	$ 395	$ 82

Investment securities (Details)

Investment securities (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Investment securities (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other-than-temporary impairments recognized	$ 0	$ 0
Value of common stock	14,330	14,341
Federal Home Loan Bank of Pittsburgh (FHLB)
Value of common stock	4,500	4,000
Atlantic Community Bankers Bank (ACBB)
Value of common stock	$ 42	$ 42

Loans, net and allowance for _3

Loans, net and allowance for loan losses - Net Deferred Loan Costs (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($) loan
Net deferred loan costs	$ 300,000	$ 1,600,000
Loans	2,623,706,000	2,329,173,000
PPP
Net deferred loan costs	300,000	1,700,000
Loans	22,700,000	68,900,000
Fixed interest rate	$ 1
PPP \| Scenario, Loans Issued Before 5 June 2020 [Member]
Term of paycheck protection program	2 years
Deferral term of paycheck protection program	24 months
PPP \| Scenario, Loans Issued After 5 June 2020 [Member]
Term of paycheck protection program	5 years
Deferral term of paycheck protection program	60 months
PPP Two
Net deferred loan costs		$ 4,400,000
Loans	$ 11,200,000
Number of loans \| loan		1,062
Proceeds from Sale of Loans Receivable		$ 121,600,000
PPP One
Loans	$ 11,500,000

Loans, net and allowance for _4

Loans, net and allowance for loan losses - Major Classifications of Loans Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable
Loans	$ 2,623,706	$ 2,329,173
Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	595,928	613,127
Taxable
Accounts, Notes, Loans and Financing Receivable
Loans	371,164	424,455
Non-taxable
Accounts, Notes, Loans and Financing Receivable
Loans	224,764	188,672
Real estate
Accounts, Notes, Loans and Financing Receivable
Loans	1,946,339	1,641,163
Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	1,620,116	1,343,539
Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	326,223	297,624
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	81,439	74,883
Indirect Auto
Accounts, Notes, Loans and Financing Receivable
Loans	70,006	65,791
Consumer Other
Accounts, Notes, Loans and Financing Receivable
Loans	$ 11,433	$ 9,092

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		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Allowance for loan losses:
Beginning Balance	$ 29,374	$ 26,739	$ 28,383	$ 27,344
Charge-offs	(101)	(466)	(554)	(851)
Recoveries	99	20	293	200
Provisions (credits)	450	400	1,700
Ending balance	29,822	26,693	29,822	26,693
Commercial
Allowance for loan losses:
Beginning Balance	7,766	8,520	8,453	8,734
Charge-offs		(446)	(161)	(461)
Recoveries	10	4	39	83
Provisions (credits)	(5)	(164)	(560)	(442)
Ending balance	7,771	7,914	7,771	7,914
Real estate Commercial
Allowance for loan losses:
Beginning Balance	17,569	14,281	15,928	14,559
Charge-offs	(15)	(12)	(147)	(252)
Recoveries	32	1	109	67
Provisions (credits)	437	519	2,133	415
Ending balance	18,023	14,789	18,023	14,789
Real estate Residential
Allowance for loan losses:
Beginning Balance	3,220	3,069	3,209	3,129
Charge-offs			(2)	(24)
Recoveries	1		4	2
Provisions (credits)	9	92	19	54
Ending balance	3,230	3,161	3,230	3,161
Consumer
Allowance for loan losses:
Beginning Balance	819	869	793	922
Charge-offs	(86)	(8)	(244)	(114)
Recoveries	56	15	141	48
Provisions (credits)	9	(47)	108	(27)
Ending balance	$ 798	$ 829	$ 798	$ 829

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	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Allowance for loan losses:
Ending balance	$ 29,822	$ 29,374	$ 28,383	$ 26,693	$ 26,739	$ 27,344
Ending balance: individually evaluated for impairment	41		175
Ending balance: collectively evaluated for impairment	29,781		28,208
Loans receivable:
Ending balance	2,623,706		2,329,173
Ending balance: individually evaluated for impairment	3,996		4,362
Ending balance: collectively evaluated for impairment	2,619,710		2,324,811
Commercial
Allowance for loan losses:
Ending balance	7,771	7,766	8,453	7,914	8,520	8,734
Ending balance: individually evaluated for impairment	19		40
Ending balance: collectively evaluated for impairment	7,752		8,413
Loans receivable:
Ending balance	595,928		613,127
Ending balance: individually evaluated for impairment	114		199
Ending balance: collectively evaluated for impairment	595,814		612,928
Real estate Commercial
Allowance for loan losses:
Ending balance	18,023	17,569	15,928	14,789	14,281	14,559
Ending balance: individually evaluated for impairment	1		109
Ending balance: collectively evaluated for impairment	18,022		15,819
Loans receivable:
Ending balance	1,620,116		1,343,539
Ending balance: individually evaluated for impairment	2,721		2,889
Ending balance: collectively evaluated for impairment	1,617,395		1,340,650
Real estate Residential
Allowance for loan losses:
Ending balance	3,230	3,220	3,209	3,161	3,069	3,129
Ending balance: individually evaluated for impairment	21		26
Ending balance: collectively evaluated for impairment	3,209		3,183
Loans receivable:
Ending balance	326,223		297,624
Ending balance: individually evaluated for impairment	1,161		1,274
Ending balance: collectively evaluated for impairment	325,062		296,350
Consumer
Allowance for loan losses:
Ending balance	798	$ 819	793	$ 829	$ 869	$ 922
Ending balance: collectively evaluated for impairment	798		793
Loans receivable:
Ending balance	81,439		74,883
Ending balance: collectively evaluated for impairment	$ 81,439		$ 74,883

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	9 Months Ended
	Sep. 30, 2022 USD ($) loan	Dec. 31, 2021 USD ($)
Accounts, Notes, Loans and Financing Receivable
Loans	$ 2,623,706	$ 2,329,173
Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	595,928	613,127
Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	1,620,116	1,343,539
Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	326,223	297,624
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	81,439	74,883
Pass
Accounts, Notes, Loans and Financing Receivable
Loans	2,598,731	2,305,433
Pass \| Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	587,033	611,151
Pass \| Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	1,606,076	1,324,646
Pass \| Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	324,452	294,892
Pass \| Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	81,170	74,744
Special Mention
Accounts, Notes, Loans and Financing Receivable
Loans	15,901	15,168
Special Mention \| Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	$ 8,065	896
Number of loans degraded \| loan	1
Increase in loans receivables due to insufficient cash flow	$ 7,800
Decrease in loan due to upgrading credit line	3,500
Decrease in loan due to downgrading credit line	2,400
Special Mention \| Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	7,722	13,939
Special Mention \| Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	114	333
Substandard
Accounts, Notes, Loans and Financing Receivable
Loans	9,074	8,572
Substandard \| Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	830	1,080
Amount of increase (decrease) in loans and leases receivable due to repayment uncertainty	1,700
Substandard \| Real estate Commercial
Accounts, Notes, Loans and Financing Receivable
Loans	6,318	4,954
Substandard \| Real estate Residential
Accounts, Notes, Loans and Financing Receivable
Loans	1,657	2,399
Decrease in loan due to downgrading credit line	700
Decrease in loan due to payoff of credit	500
Substandard \| Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	$ 269	$ 139

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	12 Months Ended
	Dec. 31, 2021	Sep. 30, 2022
Financing Receivable, Recorded Investment, Past Due.
Nonaccrual loans, Total	$ 2,811	$ 2,557
Nonaccrual loans increased	254
Commercial
Financing Receivable, Recorded Investment, Past Due.
Nonaccrual loans, Total	185	102
Real estate Commercial
Financing Receivable, Recorded Investment, Past Due.
Nonaccrual loans, Total	1,793	1,787
Real estate Residential
Financing Receivable, Recorded Investment, Past Due.
Nonaccrual loans, Total	694	423
Consumer
Financing Receivable, Recorded Investment, Past Due.
Nonaccrual loans, Total	$ 139	$ 245

Loans, net and allowance for _9

Loans, net and allowance for loan losses - Major Classification of Loans by Past Due Status (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Financing Receivable, Recorded Investment, Past Due.
Loans	$ 2,623,706	$ 2,329,173
Loans > 90 Days and Accruing	280	13
Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	3,501	5,154
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	927	2,898
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	1,479	948
Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Total Due	1,095	1,308
Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	2,620,205	2,324,019
Commercial
Financing Receivable, Recorded Investment, Past Due.
Loans	595,928	613,127
Commercial \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	137	414
Commercial \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	35	101
Commercial \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due		155
Commercial \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Total Due	102	158
Commercial \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	595,791	612,713
Real estate Commercial
Financing Receivable, Recorded Investment, Past Due.
Loans	1,620,116	1,343,539
Real estate Commercial \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	1,081	2,025
Real estate Commercial \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	146	768
Real estate Commercial \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	605	423
Real estate Commercial \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Total Due	330	834
Real estate Commercial \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	1,619,035	1,341,514
Real estate Residential
Financing Receivable, Recorded Investment, Past Due.
Loans	326,223	297,624
Loans > 90 Days and Accruing	280	13
Real estate Residential \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	1,546	2,024
Real estate Residential \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	341	1,552
Real estate Residential \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	640	207
Real estate Residential \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Total Due	565	265
Real estate Residential \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	324,677	295,600
Consumer
Financing Receivable, Recorded Investment, Past Due.
Loans	81,439	74,883
Consumer \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	737	691
Consumer \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	405	477
Consumer \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	234	163
Consumer \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Total Due	98	51
Consumer \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Total Due	$ 80,702	$ 74,192

Loans, net and allowance for_10

Loans, net and allowance for loan losses - Summarized Information in Concerning to Impaired Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	$ 3,646	$ 4,267	$ 3,646	$ 4,267	$ 3,546
Unpaid Principal Balance, With no related allowance, Total	4,976	5,652	4,976	5,652	4,822
Average Recorded Investment, With no related allowance, Total	3,756	4,733	3,756	5,113	4,799
Interest Income Recognized, With no related allowance, Total	18	11	54	43	54
Recorded Investment, With an allowance recorded, Total	595	1,398	595	1,398	955
Unpaid Principal Balance, With an allowance recorded, Total	599	1,434	599	1,434	985
Related Allowance, With an allowance recorded, Total	41	166	41	166	175
Average Recorded Investment, With an allowance recorded, Total	665	1,749	755	2,674	2,329
Interest Income Recognized, With an allowance recorded, Total	10	12	24	39	50
Recorded Investment, Total	4,241	5,665	4,241	5,665	4,501
Unpaid Principal Balance, Total	5,575	7,086	5,575	7,086	5,807
Average Recorded Investment, Total	4,421	6,482	4,511	7,787	7,128
Interest Income Recognized, Total	28	23	78	82	104
Commercial
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	94	634	94	634	158
Unpaid Principal Balance, With no related allowance, Total	425	1,097	425	1,097	481
Average Recorded Investment, With no related allowance, Total	110	870	129	1,166	964
Interest Income Recognized, With no related allowance, Total	3	2	7	9	13
Recorded Investment, With an allowance recorded, Total	20	424	20	424	41
Unpaid Principal Balance, With an allowance recorded, Total	20	424	20	424	41
Related Allowance, With an allowance recorded, Total	19	18	19	18	40
Average Recorded Investment, With an allowance recorded, Total	27	695	29	1,354	1,091
Interest Income Recognized, With an allowance recorded, Total		5		15	15
Recorded Investment, Total	114	1,058	114	1,058	199
Unpaid Principal Balance, Total	445	1,521	445	1,521	522
Average Recorded Investment, Total	137	1,565	158	2,520	2,055
Interest Income Recognized, Total	3	7	7	24	28
Real estate Commercial
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	2,389	2,560	2,389	2,560	2,376
Unpaid Principal Balance, With no related allowance, Total	3,193	3,275	3,193	3,275	3,120
Average Recorded Investment, With no related allowance, Total	2,431	2,785	2,497	2,805	2,719
Interest Income Recognized, With no related allowance, Total	9	4	31	19	22
Recorded Investment, With an allowance recorded, Total	332	534	332	534	513
Unpaid Principal Balance, With an allowance recorded, Total	332	564	332	564	543
Related Allowance, With an allowance recorded, Total	1	107	1	107	109
Average Recorded Investment, With an allowance recorded, Total	381	604	429	875	802
Interest Income Recognized, With an allowance recorded, Total	7	4	15	14	22
Recorded Investment, Total	2,721	3,094	2,721	3,094	2,889
Unpaid Principal Balance, Total	3,525	3,839	3,525	3,839	3,663
Average Recorded Investment, Total	2,812	3,389	2,926	3,680	3,521
Interest Income Recognized, Total	16	8	46	33	44
Real estate Residential
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	918	991	918	991	873
Unpaid Principal Balance, With no related allowance, Total	1,102	1,184	1,102	1,184	1,073
Average Recorded Investment, With no related allowance, Total	957	999	915	1,051	1,016
Interest Income Recognized, With no related allowance, Total	6	5	16	15	19
Recorded Investment, With an allowance recorded, Total	243	440	243	440	401
Unpaid Principal Balance, With an allowance recorded, Total	247	446	247	446	401
Related Allowance, With an allowance recorded, Total	21	41	21	41	26
Average Recorded Investment, With an allowance recorded, Total	257	450	297	445	436
Interest Income Recognized, With an allowance recorded, Total	3	3	9	10	13
Recorded Investment, Total	1,161	1,431	1,161	1,431	1,274
Unpaid Principal Balance, Total	1,349	1,630	1,349	1,630	1,474
Average Recorded Investment, Total	1,214	1,449	1,212	1,496	1,452
Interest Income Recognized, Total	9	8	25	25	32
Consumer
Financing Receivable, Impaired
Recorded Investment, With no related allowance, Total	245	82	245	82	139
Unpaid Principal Balance, With no related allowance, Total	256	96	256	96	148
Average Recorded Investment, With no related allowance, Total	258	79	215	91	100
Recorded Investment, Total	245	82	245	82	139
Unpaid Principal Balance, Total	256	96	256	96	148
Average Recorded Investment, Total	$ 258	$ 79	$ 215	$ 91	$ 100

Loans, net and allowance for_11

Loans, net and allowance for loan losses - Loan Modifications and Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) loan	Sep. 30, 2021 USD ($) loan	Dec. 31, 2021 USD ($)
Loans, net and allowance for loan losses
Number of loans \| loan			0	0
Number of defaults on loans restructured	$ 0	$ 0	$ 0	$ 0
Loans receivable, related parties, considered as nonaccrual, past due or restructured or potential credit risk	$ 1,400	$ 2,600	$ 1,400	$ 2,600	$ 1,600

Other assets - Components of Ot

Other assets - Components of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Other real estate owned	$ 121	$ 609
Investment in low income housing partnership	5,539	5,900
Mortgage servicing rights	931	882
Restricted equity securities (FHLB and other)	4,502	4,045
Net deferred tax asset	20,793	5,355
Interest rate floor and swaps	22,957	9,870
Other assets	7,838	6,395
Total	62,535	33,056
Interest Rate Floor
Interest rate floor and swaps	4	844
Interest Rate Swaps
Interest rate floor and swaps	$ 22,807	$ 9,026

Fair value estimates - Transfer

Fair value estimates - Transfers Between Levels (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2022	Dec. 31, 2021
Fair value estimates
Fair value of assets transfers from level 1 to level 2	$ 0	$ 0
Fair value of assets transfers from level 2 to level 1	0	0
Fair value of liabilities transfers from level 1 to level 2	0	0
Fair value of liabilities transfers from level 2 to level 1	0	0
Fair value of assets transfers into level 3	0	0
Fair value of assets transfers out of level 3	0	0
Fair value of liabilities transfers into level 3	0	0
Fair value of liabilities transfers out of level 3	$ 0	$ 0

Fair value estimates - Schedule

Fair value estimates - Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis (Details) - Recurring Basis - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	$ 477,693	$ 517,461
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	224,336	191,574
U.S. Government-sponsored enterprises state and municipals
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	16,351	33,778
State and Municipals, Taxable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	56,234	68,978
State and Municipals, Tax-exempt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	84,586	98,250
Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	3,605	2,918
Mortgage-backed Securities, U.S. Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	1,091	1,843
Mortgage-backed Securities, U.S. Government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	91,387	119,980
Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	103	140
Loan held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	653	408
Interest rate floor - other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	4	844
Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	22,953	9,026
Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value	(22,089)	(8,811)
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	224,439	191,714
Level 1 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	224,336	191,574
Level 1 \| Equity Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	103	140
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	253,254	325,747
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	16,351	33,778
Level 2 \| State and Municipals, Taxable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	56,234	68,978
Level 2 \| State and Municipals, Tax-exempt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	84,586	98,250
Level 2 \| Corporate Debt Securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	3,605	2,918
Level 2 \| Mortgage-backed Securities, U.S. Government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	1,091	1,843
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	91,387	119,980
Level 2 \| Loan held for sale
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	653	408
Level 2 \| Interest rate floor - other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	4	844
Level 2 \| Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets, Fair Value Estimate	22,953	9,026
Level 2 \| Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value	$ (22,089)	$ (8,811)

Fair value estimates - Schedu_2

Fair value estimates - Schedule of Assets and Liabilities Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring Basis - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 553	$ 780
Other real estate owned		487
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Impaired loans	$ 553	780
Other real estate owned		$ 487

Fair value estimates - Addition

Fair value estimates - Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring Basis - Level 3 - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Impaired Loans
Fair Value Inputs, Assets, Quantitative Information
Assets, Fair Value Estimate	$ 553	$ 780
Range and weighted average of appraisal adjustments	70.60%	65.20%
Range and weighted average of liquidation expenses	5.20%	5.10%
Impaired Loans \| Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	21.60%	6.40%
Range and weighted average of liquidation expenses	3%	3%
Impaired Loans \| Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	97%	97%
Range and weighted average of liquidation expenses	6%	6%
Other Real Estate Owned
Fair Value Inputs, Assets, Quantitative Information
Assets, Fair Value Estimate		$ 487
Range and weighted average of appraisal adjustments		35.90%
Range and weighted average of liquidation expenses		5%
Other Real Estate Owned \| Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments		35.90%
Range and weighted average of liquidation expenses		3%
Other Real Estate Owned \| Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments		35.90%
Range and weighted average of liquidation expenses		6%

Fair value estimates - Carrying

Fair value estimates - Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Investment securities:
Available-for-sale	$ 477,590	$ 517,321
Common equity securities	103	140
Held-to-maturity	78,512	70,446
Loans held for sale	653	408
Mortgage servicing rights	931	882
Financial liabilities:
Subordinated debentures	33,000	33,000
Carrying Value
Financial assets:
Cash and due from banks	113,010	279,933
Investment securities:
Available-for-sale	477,590	517,321
Common equity securities	103	140
Held-to-maturity	92,771	71,213
Loans held for sale	653	408
Net loans	2,593,884	2,300,790
Accrued interest receivable	10,082	8,528
Mortgage servicing rights	931	882
Restricted equity securities (FHLB and other)	4,502	4,045
Interest rate floor	4	844
Interest rate swaps	22,953	9,026
Total assets	3,316,483	3,193,130
Financial liabilities:
Deposits	3,124,140	2,963,397
Short-term borrowings	14,700
Long-term debt	1,104	2,711
Subordinated debentures	33,000	33,000
Accrued interest payable	1,129	408
Interest rate swap	22,089	8,811
Total liabilities	3,196,162	3,008,327
Fair Value
Financial assets:
Cash and due from banks	113,010	279,933
Investment securities:
Available-for-sale	477,590	517,321
Common equity securities	103	140
Held-to-maturity	78,512	70,446
Loans held for sale	653	408
Net loans	2,508,050	2,261,586
Accrued interest receivable	10,082	8,528
Mortgage servicing rights	1,433	1,357
Restricted equity securities (FHLB and other)	4,502	4,045
Interest rate floor	4	844
Interest rate swaps	22,953	9,026
Total assets	3,216,892	3,153,634
Financial liabilities:
Deposits	3,113,415	2,963,547
Short-term borrowings	14,700
Long-term debt	1,106	2,778
Subordinated debentures	33,211	32,337
Accrued interest payable	1,129	408
Interest rate swap	22,089	8,811
Total liabilities	3,185,650	3,007,881
Level 1
Financial assets:
Cash and due from banks	113,010	279,933
Investment securities:
Available-for-sale	224,336	191,574
Common equity securities	103	140
Level 2
Investment securities:
Available-for-sale	253,254	325,747
Held-to-maturity	78,512	70,446
Loans held for sale	653	408
Accrued interest receivable	10,082	8,528
Mortgage servicing rights	1,433	1,357
Restricted equity securities (FHLB and other)	4,502	4,045
Interest rate floor	4	844
Interest rate swaps	22,953	9,026
Financial liabilities:
Deposits	3,113,415	2,963,547
Short-term borrowings	14,700
Long-term debt	1,106	2,778
Subordinated debentures	33,211	32,337
Accrued interest payable	1,129	408
Interest rate swap	22,089	8,811
Level 3
Investment securities:
Net loans	$ 2,508,050	$ 2,261,586

Employee benefit plans - Compon

Employee benefit plans - Components of Net Periodic Benefit Cost (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Components of net periodic pension cost:
Salaries and employee benefits expense	$ 8,474	$ 7,829	$ 24,365	$ 21,649
Pension Benefits
Components of net periodic pension cost:
Salaries and employee benefits expense	373	343	970	991
Interest cost	114	105	342	315
Expected return on plan assets	(352)	(322)	(1,056)	(966)
Amortization of unrecognized net gain	50	76	149	227
Net periodic benefit	$ (188)	$ (141)	$ (565)	$ (424)

Employee benefit plans - Additi

Employee benefit plans - Additional Information (Details) - 2017 Plan - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Share-based Compensation Arrangement by Share-based Payment Award
Common stock available for grant as awards	17,364		17,364
Salaries and employee benefits expense	$ 223		$ 613
Non-Performance-based restricted stock
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units vesting period			3 years
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
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award
Granted shares			19,787	19,818
Salaries and employee benefits expense		$ 213		$ 479
Unrecognized compensation expense	$ 1,200		$ 1,200
Weighted average vesting period			1 year 9 months 18 days

Derivatives and hedging activ_3

Derivatives and hedging activities - Fair Values of Derivative Instruments on the Balance Sheet (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) security	Sep. 30, 2021 USD ($)	Sep. 30, 2022 USD ($) security	Sep. 30, 2021 USD ($)	Dec. 31, 2021 USD ($)
Derivatives, Fair Value
Interest rate floor and swaps	$ 22,957		$ 22,957		$ 9,870
Liability Derivatives	22,089		22,089		8,818
Posted collateral	14,700		14,700		3,218
Net Amounts of Assets presented in the Balance Sheet	22,089		22,089		8,818
Interest expense
Derivatives, Fair Value
Amount of gain or (loss) reclassified as a increase to interest income (expense)				$ (48)
Interest income
Derivatives, Fair Value
Amount of gain or (loss) reclassified as a increase to interest income (expense)	20	$ 153	276	$ 453
Interest Rate Floor
Derivatives, Fair Value
Interest rate floor and swaps	4		4		844
Interest Rate Swaps
Derivatives, Fair Value
Interest rate floor and swaps	22,807		22,807		9,026
Credit-risk contract
Derivatives, Fair Value
Posted collateral	7,800		7,800		7,800
Net Amounts of Assets presented in the Balance Sheet	2,200		2,200		5,600
Derivatives designated as hedging instruments
Derivatives, Fair Value
Interest rate floor and swaps	4		4		844
Derivatives designated as hedging instruments \| Interest Rate Floor
Derivatives, Fair Value
Notional amount	25,000		25,000
Derivatives designated as hedging instruments \| Interest Rate Floor \| Other Assets.
Derivatives, Fair Value
Interest rate floor and swaps	4		4		844
Derivatives not designated as hedging instruments
Derivatives, Fair Value
Interest rate floor and swaps	22,953		22,953		9,026
Liability Derivatives	$ 22,089		$ 22,089		8,811
Derivatives not designated as hedging instruments \| Interest Rate Swaps
Derivatives, Fair Value
Number of instruments held \| security	86		86
Notional amount	$ 386,171		$ 386,171		392,677
Derivatives not designated as hedging instruments \| Interest Rate Swaps \| Other Assets.
Derivatives, Fair Value
Interest rate floor and swaps	22,953		22,953		9,026
Derivatives not designated as hedging instruments \| Interest Rate Swaps \| Other Liabilities.
Derivatives, Fair Value
Liability Derivatives	$ 22,089		22,089		$ 8,811
Cash Flow Hedge \| Interest income
Derivatives, Fair Value
Amount of gain or (loss) reclassified as a increase to interest income (expense)			$ 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	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in OCI Included Component			$ (60)		$ 680
Interest expense
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income				$ (23)
Interest income
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income	$ 4	$ 137	228	405
Interest Rate Floor \| Interest income
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in OCI on Derivative			(512)	(66)
Amount of Gain (Loss) Recognized in OCI Included Component			(497)	(70)
Amount of Loss Recognized in OCI Excluded Component			(15)	4
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income			228	405
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Included Component			276	453
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Excluded Component			(48)	(48)
Cash Flow Hedge
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in OCI on Derivative			(512)	335
Amount of Gain (Loss) Recognized in OCI Included Component			(497)	331
Amount of Loss Recognized in OCI Excluded Component			(15)	4
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income			228	357
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Included Component			276	405
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Excluded Component			$ (48)	(48)
Cash Flow Hedge \| Interest expense
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in OCI on Derivative				401
Amount of Gain (Loss) Recognized in OCI Included Component				401
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income				(23)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Included Component				(23)
Cash Flow Hedge \| Other
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income				(25)
Amount of Gain (Loss) Reclassified from Accumulated OCI into Income Included Component				$ (25)

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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
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	$ (46)	$ (128)	$ (740)	$ (22)
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	4	137	228	405
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income	4	137	228	405
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component	20	153	276	453
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - excluded component	$ (16)	$ (16)	$ (48)	(48)
Interest expense
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				(48)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income				(23)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income as a result that a forecasted transaction is no longer probable of occurring				(25)
Amount of gain or (loss) reclassified from accumulated other comprehensive income into income - included component				$ (48)

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	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Income	$ 130	$ 7	$ 656	$ 175
Interest Rate Swaps \| Interest Rate Swap Revenue
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Income	129	7	652	175
Other
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Income	1		4
Fee Income \| Interest Rate Swap Revenue
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in Income	$ 2	$ 72	$ 106	$ 569

Derivatives and hedging activ_7

Derivatives and hedging activities - Offsetting Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	$ 22,957	$ 9,870
Net Amounts of Assets presented in the Balance Sheet	22,957	9,870
Gross Amounts Not Offset in the Statement of Financial Position - Cash Collateral Received	14,700	3,218
Net Amount	8,257	6,652
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities	22,089	8,818
Net Amounts of Assets presented in the Balance Sheet	22,089	8,818
Gross Amounts Not Offset in the Statement of Financial Position - Financial Instruments	22,089	3,218
Gross Amounts Not Offset in the Statement of Financial Position - Cash Collateral Paid		$ 5,600
Cash collateral paid but not offset	$ 7,830

Deposits - Components of Intere

Deposits - Components of Interest-bearing and Noninterest-bearing Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Deposits.
Money market accounts	$ 706,947	$ 588,245
Now accounts	813,743	851,086
Savings accounts	530,124	491,796
Time deposits less than $250	224,517	203,719
Time deposits $250 or more	78,874	90,795
Total interest-bearing deposits	2,354,205	2,225,641
Noninterest-bearing deposits	769,935	737,756
Total deposits	$ 3,124,140	$ 2,963,397

Deposits - Deposit Activity (De

Deposits - Deposit Activity (Details) $ in Millions	9 Months Ended
Deposits - Deposit Activity (Details) $ in Millions	Sep. 30, 2022 USD ($)
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	$ 160.7
Brokered deposits increased callable	$ 11.4
Certificates of deposit callable term	3 months
Interest-bearing deposits
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	$ 128.6
Non-interest-bearing deposits
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	32.1
Money market deposits
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	118.7
Savings accounts
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	38.3
Time deposits less than $250 thousand
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	20.8
Brokered deposits
Cash and Cash Equivalents [Line Items]
Increase (decrease) in deposits	$ 33.3

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Short-term Debt
Ending Balance	$ 14,700	$ 0
Average Balance	40,401
Maximum Month-End Balance	$ 140,675
Weighted Average Rate for the Year	1.92%
Weighted Average Rate at End of Year	3.08%
Other borrowings
Short-term Debt
Ending Balance	$ 14,700
Average Balance	8,434
Maximum Month-End Balance	$ 14,700
Weighted Average Rate for the Year	1.17%
Weighted Average Rate at End of Year	3.08%
FHLB Advances
Short-term Debt
Average Balance	$ 31,967	13,973
Maximum Month-End Balance	$ 125,975	$ 50,000
Weighted Average Rate for the Year	2.11%	0.56%

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Short-term Debt
Short-term borrowings	$ 14,700	$ 0
Other borrowings	14,700
Peoples Bank
Short-term Debt
Maximum borrowing capacity	1,100,000	896,100
Outstanding amount in borrowings	1,100	2,700
Amount of credit facility used to issue standby letters of credit to collateralize public fund deposits	$ 383,200	$ 373,000

Borrowings - Long-term debt adv

Borrowings - Long-term debt advances (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Debt Instrument
Long-term debt	$ 1,104	$ 2,711
Long-term 4.69% fixed rate debt due March 2023
Debt Instrument
Long-term debt	$ 1,104	$ 2,711
Fixed interest rate (as a percent)	4.69%	4.69%

Borrowings - Maturities of long

Borrowings - Maturities of long-term debt (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Borrowings
2022	$ 549
2023	555
Total long-term debt	1,104	$ 2,711
FHLB long-term advances	$ 1,100

Subordinated debt (Details)

Subordinated debt (Details) - 2020 Notes $ in Millions	Jun. 01, 2020 USD ($)
Debt Instrument
Aggregate principal amount	$ 33
Rate of interest for first five years	5.375%
Duration interest rate in effect	5 years
Percentage of debt redeemed	100%
Minimum
Debt Instrument
Floated interest rate	4.75%
Number of days notice to redeem debt	10 days