Peoples Financial Services (PFIS) 10-Q14 Nov 242024 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, 2024	Nov. 01, 2024
Document and Entity Information
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Securities Act 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		9,994,647
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3
Entity Central Index Key	0001056943
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Cash and cash equivalents
Cash and due from banks	$ 97,090	$ 33,524
Interest-bearing deposits in other banks	10,286	9,141
Federal funds sold	178,093	144,700
Total cash and cash equivalents	285,469	187,365
Investment securities:
Available for sale: Amortized cost of 601,270 and $450,454, respectively, net of allowance for credit losses of $0 at September 30, 2024 and December 31, 2023	562,486	398,927
Held to maturity: Fair value of $69,034 and $71,698, respectively, net of allowance for credit losses of $0 at September 30, 2024 and December 31, 2023	79,861	84,851
Equity investments carried at fair value	3,921	98
Total investment securities	646,268	483,876
Loans	4,069,683	2,849,897
Less: allowance for credit losses	39,341	21,895
Net loans	4,030,342	2,828,002
Loans held for sale	803	250
Goodwill	76,958	63,370
Premises and equipment, net	75,877	61,276
Bank owned life insurance	87,401	49,397
Deferred tax assets	33,078	13,770
Accrued interest receivable	17,979	12,734
Intangible assets, net	35,907
Other assets	70,056	42,249
Total assets	5,360,138	3,742,289
Deposits:
Noninterest-bearing	717,565	644,683
Interest-bearing	3,920,299	2,634,354
Total deposits	4,637,864	3,279,037
Short-term borrowings	37,346	17,590
Long-term debt	111,489	25,000
Subordinated debt	33,000	33,000
Junior subordinated debt	8,015
Accrued interest payable	6,829	5,765
Other liabilities	50,544	41,475
Total liabilities	4,885,087	3,401,867
Stockholders' equity:
Common stock, par value $2.00, authorized 25,000,000 shares, issued and outstanding 9,994,648, shares at September 30, 2024 and 7,040,852 shares at December 31, 2023	19,993	14,093
Capital surplus	250,578	122,130
Retained earnings	239,021	248,550
Accumulated other comprehensive loss	(34,541)	(44,351)
Total stockholders' equity	475,051	340,422
Total liabilities and stockholders' equity	$ 5,360,138	$ 3,742,289

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
CONSOLIDATED BALANCE SHEETS
Available for sale, amortized cost, net of allowance	$ 601,270	$ 450,454
Available for sale, credit loss	0	0
Held-to-maturity, Fair value	69,034	71,698
Held-to-maturity, credit loss	$ 0	$ 0
Common stock, par value	$ 2	$ 2
Common stock, shares authorized	25,000,000	25,000,000
Common stock, shares issued	9,994,648	7,040,852
Common stock, shares outstanding	9,994,648	7,040,852

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Interest and fees on loans:
Taxable	$ 59,412	$ 33,095	$ 127,859	$ 95,283
Tax-exempt	2,299	1,411	5,116	4,205
Interest and dividends on investment securities:
Taxable	4,739	1,920	8,561	5,973
Tax-exempt	411	375	1,153	1,210
Dividends	55		59	4
Interest on interest-bearing deposits in other banks	150	91	385	190
Interest on federal funds sold	1,218	1,873	2,524	2,914
Total interest income	68,284	38,765	145,657	109,779
Interest expense:
Interest on deposits	26,398	16,481	63,216	39,805
Interest on short-term borrowings	550	291	1,444	1,590
Interest on long-term debt	1,389	273	1,929	569
Interest on subordinated debt	443	443	1,330	1,330
Interest on junior subordinated debt	260		260
Total interest expense	29,040	17,488	68,179	43,294
Net interest income	39,244	21,277	77,478	66,485
Provision for (credit to) credit losses	14,458	(166)	15,762	(1,103)
Net interest income after provision for (credit to) credit losses	24,786	21,443	61,716	67,588
Noninterest income:
Mortgage banking income	84	87	263	295
Increase in cash surrender value of life insurance	551	270	1,116	790
Interest rate swap (loss) gain	(53)	266	25	512
Net gains (losses) on equity investment securities	175		155	(17)
Net gains on sale of investment securities available for sale	1		1	81
Total noninterest income	5,722	3,692	12,665	10,918
Noninterest expense:
Salaries and employee benefits expense	13,170	8,784	30,459	26,346
Net occupancy and equipment expense	6,436	4,298	15,745	12,678
Acquisition related expenses	9,653	869	11,210	990
Amortization of intangible assets	1,665	29	1,665	86
Net gains on sale of other real estate owned		(18)		(18)
Professional fees and outside services	1,017	687	2,482	1,960
FDIC insurance and assessments	809	508	1,907	1,565
Donations	512	389	1,354	1,254
Other expenses	2,240	1,508	6,906	5,361
Total noninterest expense	35,502	17,054	71,728	50,222
(Loss) income before income taxes	(4,994)	8,081	2,653	28,284
(Benefit) provision for income tax expense	(657)	1,335	242	4,534
Net (loss) income	(4,337)	6,746	2,411	23,750
Other comprehensive income (loss):
Unrealized gain (loss) on investment securities available for sale	15,167	(10,378)	12,744	(4,690)
Reclassification adjustment for net gain on sales included in net income	(1)		(1)	(81)
Change in derivative fair value	(1,424)	747	(185)	826
Other comprehensive income (loss)	13,742	(9,631)	12,558	(3,945)
Income tax expense (benefit) related to other comprehensive income (loss)	3,008	(2,074)	2,748	(851)
Other comprehensive income (loss), net of income tax expense (benefit)	10,734	(7,557)	9,810	(3,094)
Comprehensive income (loss)	$ 6,397	$ (811)	$ 12,221	$ 20,656
Per share data:
Basic	$ (0.43)	$ 0.95	$ 0.30	$ 3.33
Diluted	$ (0.43)	$ 0.95	$ 0.30	$ 3.31
Weighted average common shares outstanding:
Basic	9,987,627	7,088,745	8,039,734	7,130,506
Diluted	10,044,449	7,120,685	8,094,036	7,165,570
Dividends declared	$ 0.62	$ 0.41	$ 1.44	$ 1.23
Service charges, fees, commissions and other
Noninterest income:
Revenue from contracts with customers	$ 3,384	$ 1,900	$ 7,304	$ 5,847
Merchant services income
Noninterest income:
Revenue from contracts with customers	223	170	598	542
Commission and fees on fiduciary activities
Noninterest income:
Revenue from contracts with customers	649	606	1,717	1,691
Wealth management income
Noninterest income:
Revenue from contracts with customers	$ 708	$ 393	$ 1,486	$ 1,177

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Common Stock	Capital Surplus	Retained Earnings Cumulative impact of adoption	Retained Earnings	Accumulated Other Comprehensive Loss	Cumulative impact of adoption	Total
Balance at Dec. 31, 2022	$ 14,321	$ 126,850		$ 230,515	$ (56,336)		$ 315,350
Net Income (Loss)				7,579			7,579
Other comprehensive income (loss), net of tax					6,894		6,894
Cash dividends declared				(2,936)			(2,936)
Stock compensation, including tax effects and expenses		209					209
Restricted stock issued	35	(35)
Share retirement	(33)	(793)					(826)
Balance at Mar. 31, 2023	14,323	126,231		237,522	(49,442)		328,634
Balance at Dec. 31, 2022	14,321	126,850		230,515	(56,336)		315,350
Net Income (Loss)							23,750
Other comprehensive income (loss), net of tax							(3,094)
Balance at Sep. 30, 2023	14,093	121,870		247,857	(59,430)		324,390
Balance at Mar. 31, 2023	14,323	126,231		237,522	(49,442)		328,634
Net Income (Loss)				9,425			9,425
Other comprehensive income (loss), net of tax					(2,431)		(2,431)
Cash dividends declared				(2,930)			(2,930)
Stock compensation, including tax effects and expenses		160					160
Share retirement	(51)	(1,020)					(1,071)
Balance at Jun. 30, 2023	14,272	125,371		244,017	(51,873)		331,787
Net Income (Loss)				6,746			6,746
Other comprehensive income (loss), net of tax					(7,557)		(7,557)
Cash dividends declared				(2,906)			(2,906)
Stock compensation, including tax effects and expenses		259					259
Share retirement	(179)	(3,760)					(3,939)
Balance at Sep. 30, 2023	14,093	121,870		247,857	(59,430)		324,390
Balance (ASC 326) at Dec. 31, 2023			$ 2,364			$ 2,364
Balance at Dec. 31, 2023	14,093	122,130		248,550	(44,351)		340,422
Net Income (Loss)				3,466			3,466
Other comprehensive income (loss), net of tax					(1,064)		(1,064)
Cash dividends declared				(2,893)			(2,893)
Stock compensation, including tax effects and expenses		61					61
Restricted stock issued	29	(29)
Balance at Mar. 31, 2024	14,122	122,162		249,123	(45,415)		339,992
Balance (ASC 326) at Dec. 31, 2023			$ 2,364			$ 2,364
Balance at Dec. 31, 2023	14,093	122,130		248,550	(44,351)		340,422
Net Income (Loss)							2,411
Other comprehensive income (loss), net of tax							9,810
Balance at Sep. 30, 2024	19,993	250,578		239,021	(34,541)		475,051
Balance at Mar. 31, 2024	14,122	122,162		249,123	(45,415)		339,992
Net Income (Loss)				3,282			3,282
Other comprehensive income (loss), net of tax					140		140
Cash dividends declared				(2,894)			(2,894)
Stock compensation, including tax effects and expenses		287					287
Balance at Jun. 30, 2024	14,122	122,449		249,511	(45,275)		340,807
Net Income (Loss)				(4,337)			(4,337)
Other comprehensive income (loss), net of tax					10,734		10,734
FNCB acquisition	5,871	127,810					133,681
Cash dividends declared				(6,153)			(6,153)
Stock compensation, including tax effects and expenses		319					319
Balance at Sep. 30, 2024	$ 19,993	$ 250,578		$ 239,021	$ (34,541)		$ 475,051

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical) - USD ($)	3 Months Ended					9 Months Ended
	Sep. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024
CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY
Cash dividends declared (in dollars per share)	$ 0.62	$ 0.41	$ 0.41	$ 0.41	$ 0.41	$ 1.44
Restricted stock issued, shares		14,434			17,640
Share retirement, shares			89,558	25,555	16,573
Common stock shares	$ 2,935,456
Share price (in dollars per share)	$ 45.54					$ 45.54

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Cash flows from operating activities:
Net income	$ 2,411	$ 23,750
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation of premises and equipment	2,372	2,051
Amortization of right-of-use lease asset	805	454
Amortization of deferred loan fees, net	451	493
Amortization of intangible assets	1,665	86
Amortization of low income housing partnerships	376	310
Provision for (credit to) credit losses	15,762	(1,103)
Net unrealized (gain) loss on equity investment securities	(155)	17
Net gain on sale of other real estate owned		(18)
Loans originated for sale	(2,564)	(3,511)
Proceeds from sale of loans originated for sale	2,012	3,499
Net (gain) loss on sale of loans originated for sale	(1)	12
Net (accretion) amortization of investment securities	(197)	774
Net gain on sale of investment securities available for sale	(1)	(81)
(Gain) loss on sale of premises and equipment	(1)	3
Increase in cash surrender value of life insurance	(1,116)	(790)
Deferred income tax (benefit) expense	(2,558)	983
Stock compensation, including tax effects and expenses	667	628
Net change in:
Accrued interest receivable	2,203	(1,054)
Other assets	8,788	(3,581)
Accrued interest payable	(902)	3,874
Other liabilities	585	(2,489)
Net cash provided by operating activities	30,602	24,307
Cash flows from investing activities:
Proceeds from sales of investment securities available for sale	240,861	67,363
Proceeds from repayments of investment securities:
Available for sale	27,013	22,740
Held to maturity	4,918	4,845
Purchases of investment securities:
Equity Securities	(775)
Net (purchase) redemption of restricted equity securities	(4,638)	3,966
Proceeds from sale of equity securities	614
Net cash received in merger with FNCB Bancorp, Inc.	28,811
Net increase in loans	(24,398)	(141,422)
Purchases of premises and equipment	(4,926)	(5,697)
Proceeds from the sale of premises and equipment	153	14
Proceeds from sale of other real estate owned		139
Net cash provided by (used in) investing activities	267,633	(48,052)
Cash flows from financing activities:
Net (decrease) increase in deposits	(68,174)	318,485
(Repayment of) proceeds from long-term borrowings	(10,136)	24,445
Net proceeds (decrease) in short-term borrowings	(109,880)	(87,910)
Retirement of common stock		(5,836)
Cash dividends paid	(11,940)	(8,772)
Net cash (used) provided by financing activities	(200,130)	240,412
Net increase in cash and cash equivalents	98,104	216,667
Cash and cash equivalents at beginning of period	187,365	37,868
Cash and cash equivalents at end of period	285,469	254,535
Supplemental disclosures:
Interest	67,116	39,420
Income taxes	1,154	3,072
Noncash items:
Transfers of fixed assets to other real estate	1,556
Transfers of loans to other real estate	27
Origination of mortgage servicing rights	542	3,878
Initial recognition of right-of-use assets (1)	2,819	3,878
Initial recognition of lease liability (1)	3,106
Removal of right-of-use assets		785
Removal of lease liability		$ 820
Tangible assets acquired	1,729,872
Goodwill and other intangible assets	51,205
Liabilities assumed	$ 1,676,207

Summary of significant accounti

Summary of significant accounting policies	9 Months Ended
Summary of significant accounting policies	Sep. 30, 2024
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 direct and indirect subsidiaries, including Peoples Security Bank and Trust Company (“Peoples Bank”) and 1 st Equipment Finance Inc., 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, 2024, 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 credit losses, fair value of financial instruments, the fair value of assets acquired and liabilities assumed in business combinations, 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, 2023. Fourth Quarter Dividend Decl aration On October 25, 2024 , the Company’s board of directors declared a fourth quarter dividend of $0.6175 per share. The dividend is payable on December 13, 2024 to shareholders of record as of November 29, 2024 . The dividend is consistent with the dividend declared in the third quarter of 2024 and is a 50.6 % increase from the fourth quarter in the prior year, which was contemplated as part of the Merger Agreement between the Company and FNCB. 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, 2023. 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. ASU 2024-01, “Compensation – Stock Compensation (Topic 718) – Scope Application of Profits Interest and Similar Awards” (ASU 2024-01) of Topic 718 or is not a share-based payment arrangement and therefore within the scope of other guidance. ASU 2024-01 provides an illustrative example with multiple fact patterns and also amends certain language in the “Scope” and “Scope Exceptions” sections of Topic 718 to improve its clarity and operability without changing the guidance. Entities can apply the amendments either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. If prospective application is elected, an entity must disclose the nature of and reason for the change in accounting principle. ASU 2024-01 is effective January 1, 2025, including interim periods, and is not expected to have a significant impact on the consolidated financial statements. ASU 2024-02 “Codification Improvements” (“ASU 2024-02”)

Business Combinations

Business Combinations	9 Months Ended
Business Combinations	Sep. 30, 2024
Business Combinations
Business Combinations	2. Business Combinations: On July 1, 2024 (the “Acquisition Date”), the Company completed the acquisition of FNCB Bancorp, Inc., a Pennsylvania corporation (“FNCB”), in accordance with the definitive Agreement and Plan of Merger dated as of September 27, 2023 (the “Merger Agreement”), by and among the Company and FNCB. Pursuant to the Merger Agreement, on the Acquisition Date, FNCB merged with and into Peoples, with Peoples continuing as the surviving corporation, and immediately following the merger, FNCB Bank, a Pennsylvania-chartered bank (“FNCB Bank”), merged with and into Peoples Bank, with Peoples Bank as the surviving bank (collectively, the “merger”). In connection with the completion of the merger, former FNCB shareholders received 0.1460 shares of the Company’s common stock per share of FNCB common stock. The value of the total transaction consideration was approximately $133.7 million. The consideration included the issuance of 2,935,456 shares of the Company’s common stock, valued at $45.54 per share, which was the closing price of the Company’s common stock on June 28, 2024, the last trading day prior to the consummation of the merger. Also included in the total consideration was cash in lieu of any fractional shares, which was effectively settled upon closing. The acquisition of FNCB was accounted for as a business combination using the acquisition method of accounting and, accordingly, assets acquired, liabilities assumed, and consideration paid are recorded at estimated fair values on the Acquisition Date. The excess consideration paid over the fair value of the net assets acquired has been reported as goodwill in the Company’s consolidated statements of financial condition. The $13.6 million of goodwill created from the merger is not amortizable or deductible for tax purposes. The amount of goodwill represents an asset attributed to the future benefits arising from other assets acquired in a business combination. Future benefits consist largely of the synergies and economies of scale expected from combining the operations of FNCB and Peoples. Peoples does not currently provide segment reporting for GAAP, therefore the goodwill will be assigned to the whole operating company. The Company considers its valuations of acquired loans and other assets to be preliminary, as management continues to identify and assess information regarding the nature of these assets acquired and liabilities assumed, including extended information gathering, management review procedures, and any new information that may arise as a result of integration activities. Accordingly, the amounts recorded for current and deferred taxes are also considered preliminary, as the Company continues to evaluate the nature and extent of permanent and temporary differences between the book and tax bases of these other assets acquired and other liabilities assumed. While the Company believes that the information available as of September 30, 2024, provides a reasonable basis for estimating fair value, it is possible that additional information may become available during the remainder of the measurement period that could result in changes to the fair values presented. The Company will continue to keep the measurement of goodwill open for any additional adjustments to the fair value of certain accounts, for example loans, that may arise during the Company’s final review procedures of any updated information. If considered necessary, any subsequent adjustments to the fair value of assets acquired and liabilities assumed, identifiable intangible assets, or other purchase accounting adjustments will result in adjustments to goodwill within the first twelve months following the Acquisition Date. As a result of the integration of operations of FNCB, it is not practicable to determine revenue or net income included in the Company’s consolidated operating results relating to FNCB since the Acquisition Date, as FNCB’s results cannot be separately identified. Comparative pro-forma financial statements for the prior year period were not presented, as adjustments to those statements would not be indicative of what would have occurred had the acquisition taken place on January 1, 2023. In particular, adjustments that would have been necessary to be made to record the loans at fair value, the provision for credit losses or the core deposit intangible would not be practical to estimate. In connection with the acquisition, the consideration paid, and the fair value of identifiable assets acquired and liabilities assumed as of the date of acquisition are summarized in the following table: (Dollars in thousands) Purchase Price Consideration FNCB Bancorp, Inc. common shares settled for stock 20,110,771 Exchange Ratio 0.146 Peoples Financial Services Corp. shares issued 2,935,456 Price per share of Peoples Financial Services Corp. common stock on June 28, 2024 45.54 Purchase price consideration for common stock $ 133,681 Cash in lieu of fractional shares 32 Total purchase price consideration $ 133,713 FNCB Bancorp, Inc. Book Value 6/30/2024 Fair Value Adjustments FNCB Bancorp, Inc. Fair Value 6/30/2024 Total purchase price consideration $ $ $ 133,713 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents 28,843 28,843 Investment securities 426,107 (4,180) 421,927 Loans held for investment 1,267,330 (71,579) 1,195,751 Allowance for credit losses (13,921) 12,353 (1,568) Loans held for investment, net of allowance 1,253,409 (59,226) 1,194,183 Restricted stock 9,934 9,934 Premises and equipment, net 13,960 593 14,553 Accrued interest receivable 7,448 7,448 Core deposit intangibles 36,629 36,629 Wealth management customer list intangible 988 988 Deferred tax asset 14,415 5,083 19,498 Operating lease right of use asset 2,821 263 3,084 Other assets 62,728 (3,483) 59,245 Total identifiable assets acquired 1,819,665 (23,333) 1,796,332 Deposits 1,429,406 (2,405) 1,427,001 Borrowings 227,135 (851) 226,284 Trust preferred 10,310 (2,318) 7,992 Accrued interest payable 1,966 1,966 Operating lease liability 3,082 3,082 Other liabilities 9,704 178 9,882 Total liabilities assumed 1,681,603 (5,396) 1,676,207 Total identifiable net assets $ 138,062 ($ 17,937) $ 120,125 Goodwill $ 13,588 The following is a discussion of the valuation methodologies used to estimate the fair value of major categories of assets acquired and liabilities assumed in the FNCB merger. The Company used an independent valuation specialist to assist with the determination of fair values of certain acquired assets and assumed liabilities. Cash and cash equivalents The estimated fair value was determined to approximate the carrying amount of these assets. Investment securities All acquired investments were classified as available for sale. The balance sheet adjustment of $4.1 million reflects the fair value adjustment related to certain securities that were sold shortly after closing and was determined by the actual market price. Additional information is included in Note 5. Loans The acquired loan portfolio was valued utilizing Level 3 inputs and included the use of a discounted cash flow methodology applied on a pooled basis for accruing loans and on an individual basis for nonaccruing loans and incorporated assumptions that marketplace participants would use in estimating fair values. In the fair value process, accruing loans were grouped by characteristics such as loan type, term, collateral and rate. The Company developed assumptions as to credit risk, expected lifetime losses, qualitative factors, collateral values, discount rates, expected payments and expected prepayments. In instances where reliable market information was not available, the Company used its own assumptions in an effort to determine reasonable fair value. Specifically, the Company created three separate fair value adjustments which a market participant would employ in estimating the total fair value adjustment. The three fair valuation adjustments used were: (i) interest rate loan fair value adjustment; (ii) general credit fair value adjustment; and (iii) specific credit fair value adjustment. To prepare the interest rate fair value adjustment, market discount rates for similar loans were obtained from various data sources to develop market participant assumptions. The general credit fair value adjustment was calculated using a two-part general credit fair value adjustment: (i) expected lifetime losses and (ii) estimated fair value adjustment for qualitative factors. The expected lifetime losses were calculated using historical losses of the acquired bank and Pennsylvania peer banks. The adjustment related to qualitative factors was impacted by general economic conditions and the risk related to lack of experience with the originator’s underwriting process. Acquired loans are classified into three categories: purchased credit deteriorated (“PCD”) accruing loans (“PCD Accruing loans”), purchased credit deteriorated nonaccruing loans (“PCD Nonaccruing loans”) and non-PCD loans. PCD loans are defined as a loan or group of loans that have experienced more than insignificant credit deterioration since origination. The Company considers various factors in connection with the identification of more-than-insignificant deterioration in credit, including but not limited to nonperforming status, delinquency, risk ratings, and other qualitative factors that indicate deterioration in credit quality since origination. Non-PCD loans will have an allowance established subsequent to the Acquisition Date, which is recognized as an expense through the provision for credit losses. For PCD loans, the loans were recorded at their amortized cost, less an allowance for credit losses of $1.8 million on the Acquisition Date. There is no provision for credit loss expense recognized on PCD loans because the initial allowance is established by grossing-up the amortized cost of the PCD loans. The remaining difference between the net of the amortized cost basis and the allowance for credit losses and the fair value allocated to the loans on the date of acquisition is recognized as a non-credit-related discount that will be accreted into interest income over the life of the loans. The following table provides details related to the fair value of acquired PCD loans. Dollars in thousands Unpaid Principal Balance Non-credit Discount at Acquisition PCD Allowance for Credit Losses at Acquisition Fair Value of PCD Loans at Acquisition PCD Accruing $ 95,851 $ (3,626) $ 1,841 $ 94,066 PCD Nonaccruing 10,470 (2,898) 7,572 Total PCD loans $ 106,321 $ (6,524) $ 1,841 $ 101,638 A Day 1 allowance for credit losses on non-PCD loans of $14.3 million was recorded through the provision for credit losses within the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). At the Acquisition Date, of the $1.3 billion loans acquired from FNCB, $1.2 billion, or 91.5%, of FNCB’s loan portfolio was accounted for as non-PCD loans. Premises and equipment The estimated fair value of premises were measured based upon appraisals from independent third parties. The estimated fair value of equipment was determined to approximate the carrying amount of these assets. Core Deposit Intangible Fair value was determined by using income approach under ASC topic 820. This present value analysis calculates the expected after-tax cash flow benefits of each acquired core deposits type versus the cost of obtaining an alternative source of funding (brokered deposits and FHLB borrowings) over the expected life of each acquired core deposits type, discounted at a long-term market oriented after-tax rate of return. The valuation also included assumptions related to expected account attrition, interest costs, and deposit maintenance cost and deposit fee income. The core deposit intangible was valued at $36.6 million or 5.1% of core deposits. The core deposit intangible asset is being amortized on an accelerated basis over 10 years based upon the period over which the estimated economic benefits are estimated to be received. Amortization expense for three months ended September 30, 2024, was $1.7 million. Additional information is included in Note 6. Deferred Tax Asset The Company recorded a net deferred income tax asset of $19.5 million related to tax attributes of FNCB, along with the effects of fair value adjustments resulting from applying the purchase method of accounting. Time Deposits The estimated fair value of time deposits was determined using a discounted cash flow approach. The fair value of time deposit accounts was determined by compiling individual account data into groups of equal remaining maturities with corresponding calculated weighted average rates. Each maturity group’s weighted average rate was compared to market rates for similar maturities and then priced to current market interest rates offered on time deposits with similar terms and maturities. Borrowings and Subordinated Debt The estimated fair value of short-term borrowings was determined to approximate the stated value. Subordinated debentures were valued using a discounted cash flow approach incorporating a discount rate that incorporated similar terms, maturity and credit rating. Merger-related Expenses Costs related to the acquisition totaled $9.7 million and $11.2 million during the three and nine months ended September 30, 2024. These amounts were expensed as incurred and are recorded as merger-related expenses in the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss). The following table details the costs identified and classified as merger-related expenses of the acquisition. Three Months Ended Nine Months Ended September 30, 2024 September 30, 2024 Severance expenses $ 187 $ 187 System termination and integration fees 8,375 8,551 Financial advisory fees 582 1,173 Legal and professional fees 87 772 Other merger related expenses 422 527 Total $ 9,653 $ 11,210

Other comprehensive income (los

Other comprehensive income (loss)	9 Months Ended
Other comprehensive income (loss)	Sep. 30, 2024
Other comprehensive income (loss)
Other comprehensive (loss) income	3. Other comprehensive income (loss): T he components of other comprehensive income (loss) (“OCI”) and their related tax effects are reported in the consolidated statements of income (loss) and comprehensive income (loss). 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, 2024 and December 31, 2023 are as follows: (Dollars in thousands) September 30, 2024 December 31, 2023 Net unrealized loss on investment securities available for sale $ (38,784) $ (51,527) Income tax benefit (8,482) (11,270) Net of income taxes (30,302) (40,257) Benefit plan adjustments (4,370) (4,370) Income tax benefit (956) (956) Net of income taxes (3,414) (3,414) Derivative adjustments (1,056) (871) Income tax benefit (231) (191) Net of income taxes (825) (680) Accumulated other comprehensive loss $ (34,541) $ (44,351)

Earnings per share

Earnings per share	9 Months Ended
Earnings per share	Sep. 30, 2024
Earnings per share
Earnings per share	4. Earnings per share: Basic earnings per share represents 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, 2024 and 2023: (Dollars in thousands, except per share data) 2024 2023 For the Three Months Ended September 30, Basic Diluted Basic Diluted Net (loss) income $ (4,337) $ (4,337) $ 6,746 $ 6,746 Average common shares outstanding 9,987,627 10,044,449 7,088,745 7,120,685 (Loss) earnings per share $ (0.43) $ (0.43) $ 0.95 $ 0.95 (Dollars in thousands, except per share data) 2024 2023 For the Nine Months Ended September 30, Basic Diluted Basic Diluted Net income $ 2,411 $ 2,411 $ 23,750 $ 23,750 Average common shares outstanding 8,039,734 8,094,036 7,130,506 7,165,570 Earnings per share $ 0.30 $ 0.30 $ 3.33 $ 3.31

Investment securities

Investment securities	9 Months Ended
Investment securities	Sep. 30, 2024
Investment securities
Investment securities	5. Investment securities: The amortized cost and fair value of investment securities aggregated by investment category at September 30, 2024 and December 31, 2023 are summarized as follows: September 30, 2024 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Available for sale: U.S. Treasury securities $ 189,190 $ $ 8,375 $ 180,815 U.S. government-sponsored enterprises State and municipals: Taxable 85,468 109 8,186 77,391 Tax-exempt 76,570 67 8,467 68,170 Residential mortgage-backed securities: U.S. government agencies 1,451 30 1,481 U.S. government-sponsored enterprises 144,244 1,362 15,536 130,070 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4,608 60 4,548 Private collateralized mortgage obligations 42,624 635 12 43,247 Asset backed securities 24,115 44 314 23,845 Corporate debt securities 32,307 622 717 32,212 Negotiable certificates of deposit 693 14 707 Total available for sale $ 601,270 $ 2,883 $ 41,667 $ 562,486 Held to maturity: Tax-exempt state and municipals $ 11,175 $ $ 835 $ 10,340 Residential mortgage-backed securities: U.S. government agencies 14,151 2,298 11,853 U.S. government-sponsored enterprises 54,535 7,694 46,841 Total held to maturity $ 79,861 $ $ 10,827 $ 69,034 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Available for sale: U.S. Treasury securities $ 197,920 $ $ 13,863 $ 184,057 U.S. government-sponsored enterprises 2,539 387 2,152 State and municipals: Taxable 67,831 10,731 57,100 Tax-exempt 75,742 8,618 67,124 Residential mortgage-backed securities: U.S. government agencies 758 34 724 U.S. government-sponsored enterprises 89,935 17,264 72,671 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 11,729 360 11,369 Corporate debt securities 4,000 270 3,730 Total available for sale $ 450,454 $ $ 51,527 $ 398,927 Held to maturity: Tax-exempt state and municipals $ 11,201 $ 1 $ 660 $ 10,542 Residential mortgage-backed securities: U.S. government agencies 15,400 2,653 12,747 U.S. government-sponsored enterprises 58,250 9,841 48,409 Total held to maturity $ 84,851 $ 1 $ 13,154 $ 71,698 The Company did not sell any investments from its legacy securities portfolio during the three and nine months ended September 30, 2024. Immediately after the consummation of the FNCB merger, the Company sold a significant portion of the available for sale investments acquired from FNCB and used the proceeds of $241.3 mi llion to repay short-term borrowings and build on-balance sheet liquidity; there were no gains or losses realized on the sale. During the nine-month period ended September 30, 2023, investment securities, including U.S. Treasury bonds and mortgage-backed securities, with a par value of $65.6 million were sold at a net gain of $81 thousand. The proceeds were used to pay-down higher cost short-term borrowings. 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, 2024, is summarized as follows: Amortized Fair (Dollars in thousands) Cost Value Within one year $ 74,667 $ 73,596 After one but within five years 163,400 154,865 After five but within ten years 77,493 71,741 After ten years 68,668 59,093 384,228 359,295 Mortgage-backed and other amortizing securities 217,042 203,191 Total $ 601,270 $ 562,486 The maturity distribution of the amortized cost and fair value, of debt securities classified as held to maturity at September 30, 2024, is summarized as follows: Amortized Fair (Dollars in thousands) Cost Value After one but within five years $ 1,191 $ 1,096 After five but within ten years 9,984 9,244 11,175 10,340 Mortgage-backed securities 68,686 58,694 Total $ 79,861 $ 69,034 Securities with a carrying value of $368.6 million and $322.4 million at September 30, 2024 and December 31, 2023, respectively, were pledged to secure public deposits and certain other deposits as required or permitted by law and pledged to the Discount Window at the Federal Reserve 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, 2024, 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 at September 30, 2024 and December 31, 2023, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position, are summarized as follows: September 30, 2024 Less than Twelve Months Twelve Months or Longer Total Total # in a loss Unrealized Total # in a loss Unrealized Total # in a loss Unrealized (Dollars in thousands) Position Fair Value Losses Position Fair Value Losses Position Fair Value Losses Securities Available for Sale U.S. Treasury securities 41 $ 180,815 $ 8,375 41 $ 180,815 $ 8,375 State and municipals: Taxable 64 58,033 8,186 64 58,033 8,186 Tax-exempt 1 680 91 64,293 8,467 92 64,973 8,467 Residential mortgage-backed securities: U.S. government agencies 1 6 0 1 6 0 U.S. government-sponsored enterprises 1 3,601 41 31 73,997 15,495 32 77,598 15,536 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 2 4,548 60 2 4,548 60 Private collateralized mortgage obligations 9 7,699 12 9 7,699 12 Asset-backed securities 3 2,818 11 1 2,024 303 4 4,842 314 Corporate debt securities 6 6,034 315 6 3,599 402 12 9,633 717 Total 20 $ 20,832 $ 379 237 $ 387,315 $ 41,288 257 $ 408,147 $ 41,667 Securities Held to Maturity U.S. government-sponsored enterprises Tax-exempt 4 $ 1,182 $ 7 12 $ 7,453 $ 828 16 $ 8,635 $ 835 Residential mortgage-backed securities: U.S. government agencies 4 11,853 2,298 4 11,853 2,298 U.S. government-sponsored enterprises 8 46,841 7,694 8 46,841 7,694 Total 4 $ 1,182 $ 7 24 $ 66,147 $ 10,820 28 $ 67,329 $ 10,827 December 31, 2023 Less than Twelve Months Twelve Months or Longer Total Total # in a loss Unrealized Total # in a loss Unrealized Total # in a loss Unrealized (Dollars in thousands) Position Fair Value Losses Position Fair Value Losses Position Fair Value Losses Securities Available for Sale U.S. Treasury securities 43 $ 184,057 $ 13,863 43 $ 184,057 $ 13,863 U.S. government-sponsored enterprises 2 2,152 387 2 2,152 387 State and municipals: Taxable 1 $ 995 $ 6 65 56,105 10,725 66 57,100 10,731 Tax-exempt 2 575 5 93 66,393 8,613 95 66,968 8,618 Residential mortgage-backed securities: U.S. government agencies 3 724 34 3 724 34 U.S. government-sponsored enterprises 32 72,671 17,264 32 72,671 17,264 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4 11,369 360 4 11,369 360 Corporate debt securities 6 3,730 270 6 3,730 270 Total 3 $ 1,570 $ 11 248 $ 397,201 $ 51,516 251 $ 398,771 $ 51,527 (Dollars in thousands) Securities Held to Maturity State and municipals: Tax-exempt 2 $ 1,438 $ 36 10 $ 6,209 $ 624 12 $ 7,647 $ 660 Residential mortgage-backed securities: 0 0 0 0 0 0 U.S. government agencies 4 12,747 2,653 4 12,747 2,653 U.S. government-sponsored enterprises 8 48,409 9,841 8 48,409 9,841 Total 2 $ 1,438 $ 36 22 $ 67,365 $ 13,118 24 $ 68,803 $ 13,154 Management considered whether a credit loss existed related to the investments in an unrealized loss position by determining (i) whether the decline in fair value is attributable to adverse conditions specifically related to the financial condition of the security issuer or specific conditions in an industry or geographic area; (ii) whether the credit rating of the issuer of the security has been downgraded; (iii) whether dividend or interest payments have been reduced or have not been made and (iv) an adverse change in the remaining expected cash flows from the security such that the Company will not recover the amortized cost of the security. If the decline is judged to be due to factors related to credit, the credit loss should be recorded as an allowance for credit losses (“ACL”) with an offsetting entry to net income. The portion of the loss related to non-credit factors are recorded in OCI. Based on management’s assessment of the factors identified above, it is determined the fair value of all the identified investments being less than the amortized costs is primarily caused by the rapid increase in market rates and not credit quality. All interest payments have been received as scheduled, substantially all debt securities are rated above investment grade and no material downgrades announced. Because the Company does not intend to sell the investments and it is not more likely than not that the Company will be required to sell the investments before recovery of their amortized cost bases, which may be maturity, the Company does not consider the unrealized loss to be credit related, thus no allowance for credit loss expense was recorded at September 30, 2024 or December 31, 2023. Equity Securities Included in equity securities with readily determinable fair values at September 30, 2024 were investments in the common or preferred stock of publicly traded bank holding companies and an investment in a mutual fund comprised of 1 - The following table presents unrealized and realized gains and losses recognized in net income on equity securities for the three and nine months ended September 30, 2024 and 2023: For the three months ended For the nine months ended (Dollars in thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Net gains (losses) recognized on equity securities $ 175 $ 155 $ (17) Less: net gains realized on equity securities sold 54 54 Unrealized gains (losses) on equity securities $ 121 $ 101 $ (17) Equity Securities without Readily Determinable Fair Values At September 30, 2024 and December 31, 2023, equity securities without readily determinable fair values consisted primarily of Federal Home Loan Bank (“FHLB”) of Pittsburgh stock totaling $7.7 million and $5.2 million, respectively. At September 30, 2024, equity securities without readily determinable fair values also included a $500 thousand investment in a fixed-rate, non-cumulative perpetual preferred stock of a privately-held bank holding company acquired through the merger with FNCB. The preferred stock, which is not traded on any established market, pays quarterly dividends at an annual rate of 8.25%. Equity securities without readily determinable fair values are evaluated for impairment whenever events or circumstances suggest that their carrying value may not be recoverable are included in other assets in the Consolidated Balance Sheets.

Goodwill and Other Intangibles

Goodwill and Other Intangibles	9 Months Ended
Goodwill and Other Intangibles	Sep. 30, 2024
Goodwill and Other Intangibles
Goodwill and Other Intangibles	6. Goodwill and Other Intangibles: The following table provides information on the significant components of goodwill and other acquired intangible assets at September 30, 2024 and December 31, 2023. September 30, 2024 Gross Accumulated Net Carrying Impairment Accumulated Carrying (Dollars in thousands) Amount Additions Charges Amortization Amount Goodwill $ 63,370 $ 13,588 $ $ $ 76,958 Total goodwill $ 63,370 $ 13,588 $ $ $ 76,958 Core deposit intangible $ $ 36,629 $ $ 1,665 $ 34,964 Wealth management customer list intangible 988 45 943 Total intangible assets, net $ $ 37,617 $ $ 1,710 $ 35,907 December 31, 2023 Gross Accumulated Net Carrying Impairment Accumulated Carrying (Dollars in thousands) Amount Additions Charges Amortization Amount Goodwill $ 63,370 $ $ $ $ 63,370 Total goodwill $ 63,370 $ $ $ $ 63,370 The aggregate amortization expense was $1.7 million for the three and nine months ended September 30, 2024. There was At September 30, 2024, estimated future remaining amortization of the core deposit intangible and wealth management customer list intangible within the years ending December 31, are as follows: (Dollars in thousands) CDI Wealth management customer list intangible Total 2024 $ 1,665 $ 45 $ 1,710 2025 6,327 171 6,498 2026 5,661 153 5,814 2027 4,995 135 5,130 2028 4,329 117 4,446 Thereafter 11,987 322 12,309 Total amortizing intangible $ 34,964 $ 943 $ 35,907

Loans, net and allowance for cr

Loans, net and allowance for credit losses	9 Months Ended
Loans, net and allowance for credit losses	Sep. 30, 2024
Loans, net and allowance for credit losses
Loans, net and allowance for credit losses	7. Loans, net and allowance for credit losses: The major classifications of loans outstanding, net of deferred loan origination fees and costs at September 30, 2024 and December 31, 2023 are summarized as follows. The Company had net deferred loan origination fees of (Dollars in thousands) September 30, 2024 December 31, 2023 Commercial and Industrial $ 699,912 $ 368,411 Municipal 190,167 175,304 Total 890,079 543,715 Real estate Commercial 2,309,588 1,863,118 Residential 550,590 360,803 Total 2,860,178 2,223,921 Consumer Indirect Auto 130,380 75,389 Consumer Other 15,580 6,872 Total 145,960 82,261 Equipment Financing 173,466 Total $ 4,069,683 $ 2,849,897 Allowance for Credit Losses The ACL represents the estimated amount considered necessary to cover lifetime expected credit losses inherent in financial assets at the balance sheet date. The measurement of expected credit losses is applicable to loans receivable and held to maturity securities measured at amortized cost. It also applies to off-balance sheet credit exposures such as loan commitments and unused lines of credit. The allowance is established through a provision for credit losses that is charged against income. The methodology for determining the ACL for loans is considered a critical accounting estimate by management because of the high degree of judgment involved, the subjectivity of the assumptions used, and the potential for changes in the forecasted economic environment that could result in changes to the amount of the recorded ACL. The ACL related to loans receivable and held to maturity debt securities is reported separately as a contra-asset on the consolidated balance sheets. The expected credit loss for unfunded lending commitments and unfunded loan commitments is reported on the consolidated balance sheets in other liabilities while the provision for credit losses related to unfunded commitments is reported in other noninterest expense in the consolidated statements of income (loss) and comprehensive income (loss). The Company made an accounting policy election to exclude accrued interest receivable from the amortized cost basis of loans, available for sale securities, and held to maturity securities. Accrued interest receivable on loans is reported as a component of accrued interest receivable on the Consolidated Balance Sheets, totaled million at September 30, 2024 and 2023 and is excluded from the estimate of credit losses. Accrued interest receivable on available for sale securities and held to maturity securities, also a component of accrued interest receivable on the Consolidated Balance Sheets, and totaled thousand, respectively, at September 30, 2024 and is excluded from the estimate of credit losses, as the Company has a policy to charge off accrued interest deemed uncollectible in a timely manner. At September 30, 2023, accrued interest receivable on available for sale securities and held to maturity securities was The following tables present the changes in and period end balance of the allowance for credit losses at September 30, 2024 and 2023. The tables identify the valuation allowances attributable to specifically identified impairments on individually evaluated loans, including those acquired with deteriorated credit quality. The tables include the underlying balance of loans receivable applicable to each category as of those dates. September 30, 2024 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Beginning Balance July 1, 2024 $ 2,171 $ 711 $ 15,156 $ 4,230 $ 855 $ $ 23,123 Merger-related adjustments - Non PCD Loans* 2,259 502 4,149 1,785 1,470 4,163 14,328 Merger-related adjustments PCD Loans 337 71 371 468 320 274 1,841 Charge-offs (5) (26) (444) (58) (533) Recoveries 10 70 4 310 58 452 (Credits) provisions (162) (321) 2,172 (1,241) (528) 210 130 Ending balance $ 4,610 $ 963 $ 21,892 $ 5,246 $ 1,983 $ 4,647 $ 39,341 * See Note 2 - Business Combination and the initial provision for non-PCD loans. September 30, 2023 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for loan losses: Beginning Balance July 1, 2023 $ 2,751 $ 827 $ 14,961 $ 3,767 $ 912 $ $ 23,218 Charge-offs (65) (65) Recoveries 4 3 16 23 (Credits) provisions (504) 40 134 128 36 (166) Ending balance $ 2,251 $ 867 $ 15,095 $ 3,898 $ 899 $ $ 23,010 September 30, 2024 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Beginning Balance January 1, 2024 $ 2,272 $ 788 $ 14,153 $ 3,782 $ 900 $ 21,895 Merger-related adjustments - Non PCD Loans* 2,259 502 4,149 1,785 1,470 4,163 14,328 Merger-related adjustments PCD Loans 337 71 371 468 320 274 1,841 Charge-offs (51) (27) (640) (58) (776) Recoveries 90 70 8 393 58 619 (Credits) provisions (297) (398) 3,176 (797) (460) 210 1,434 Ending balance $ 4,610 $ 963 $ 21,892 $ 5,246 $ 1,983 $ 4,647 $ 39,341 * See Note 2 - Business Combination and the initial provision for non-PCD loans. September 30, 2023 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Beginning Balance January 1, 2023 $ 4,365 $ 1,247 $ 17,915 $ 3,072 $ 873 $ $ 27,472 Impact of adopting ASC 326 (1,683) 747 (3,344) 967 30 (3,283) Beginning Balance January 1, 2023 2,682 1,994 14,571 4,039 903 24,189 Charge-offs (4) (213) (217) Recoveries 9 1 22 109 141 (Credits) provisions (436) (1,127) 523 (163) 100 (1,103) Ending balance $ 2,251 $ 867 $ 15,095 $ 3,898 $ 899 $ $ 23,010 The following table represents the allowance for credit losses by major classification of loan and whether the loans were individually or collectively evaluated and collateral dependent by class of loans at September 30, 2024 and December 31, 2023. September 30, 2024 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Ending balance $ 4,610 $ 963 $ 21,892 $ 5,246 $ 1,983 $ 4,647 $ 39,341 Ending balance: individually evaluated 8 400 408 Ending balance: collectively evaluated 4,602 963 21,492 5,246 1,983 4,647 38,933 Loans receivable: Ending balance $ 699,912 $ 190,167 $ 2,309,588 $ 550,590 $ 145,960 $ 173,466 $ 4,069,683 Individually evaluated - collateral dependent - real estate 4,180 11,145 4,883 851 21,059 Individually evaluated - collateral dependent - non-real estate 7 7 Collectively evaluated 695,725 190,167 2,298,443 545,707 145,960 172,615 4,048,617 December 31, 2023 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for loan losses: Ending balance $ 2,272 $ 788 $ 14,153 $ 3,782 $ 900 $ $ 21,895 Ending balance: individually evaluated for impairment 10 21 31 Ending balance: collectively evaluated for impairment 2,262 788 14,132 3,782 900 21,864 Loans receivable: Ending balance $ 368,411 $ 175,304 $ 1,863,118 $ 360,803 $ 82,261 $ $ 2,849,897 Individually evaluated - collateral dependent - real estate 7 2,974 1,749 4,730 Individually evaluated - collateral dependent - non-real estate 10 10 Collectively evaluated 368,394 175,304 1,860,144 359,054 82,261 2,845,157 Nonaccrual Loans The following table presents the Company’s nonaccrual loans, including non-PCD nonaccrual loans, at September 30, 2024 and December 31, 2023. September 30, 2024 Total Nonaccrual with Nonaccrual with Nonaccrual an Allowance for no Allowance for (Dollars in thousands) Loans Credit Losses Credit Losses Commercial $ 4,180 $ 351 $ 3,829 Municipal Real estate: Commercial 11,146 2,620 8,526 Residential 4,321 4,321 Consumer 451 451 Equipment Financing 851 851 Total $ 20,949 $ 2,971 $ 17,978 December 31, 2023 Total Nonaccrual with Nonaccrual with Nonaccrual an Allowance for no Allowance for (Dollars in thousands) Loans Credit Losses Credit Losses Commercial $ 10 $ 10 $ Municipal Real estate: Commercial 2,974 1,170 1,804 Residential 760 760 Consumer 218 218 Total $ 3,962 $ 1,180 $ 2,782 Interest income recorded on nonaccrual loans was $887 thousand and $11 thousand for the three months ended September 30, 2024 and September 30, 2023, respectively. Interest income recorded on nonaccrual loans was 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 Peoples 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 table presents the amortized cost of loans and gross charge-offs by year of origination and by 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, 2024 and December 31, 2023: As of September 30, 2024 (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial Pass $ 54,824 $ 85,532 $ 80,128 $ 90,107 $ 40,718 $ 107,295 $ 219,160 $ 7 $ 677,771 Special Mention 1,352 1,136 701 458 2,449 1,464 1,806 9,366 Substandard - 1,010 2,352 442 1,178 687 7,106 12,775 Total Commercial 56,176 87,678 83,181 91,007 44,345 109,446 228,072 7 699,912 Municipal Pass 5,249 6,180 51,520 100,817 10,347 15,999 55 190,167 Special Mention Substandard Total Municipal 5,249 6,180 51,520 100,817 10,347 15,999 55 190,167 Commercial real estate Pass 136,530 188,333 660,675 536,817 163,176 563,148 6,553 137 2,255,369 Special Mention 2,342 950 3,708 1,351 25,304 99 33,754 Substandard 501 5,686 6,054 155 8,069 20,465 Total Commercial real estate 136,530 191,176 667,311 546,579 164,682 596,521 6,652 137 2,309,588 Residential real estate Pass 23,736 34,797 78,746 125,726 52,640 111,597 121,174 308 548,724 Special Mention Substandard 4 60 186 301 1,311 4 1,866 Total Residential real estate 23,736 34,801 78,806 125,912 52,941 112,908 121,178 308 550,590 Consumer Pass 25,689 41,912 44,430 21,337 5,009 6,303 1,034 145,714 Special Mention Substandard 102 20 66 51 5 2 246 Total Consumer 25,689 42,014 44,450 21,403 5,060 6,308 1,036 145,960 Equipment Financing Pass 50,596 72,636 46,005 2,443 171,680 Special Mention 710 417 1,127 Substandard 659 659 Total Equipment Financing 50,596 74,005 46,422 2,443 173,466 Total Loans $ 297,976 $ 435,854 $ 971,690 $ 888,161 $ 277,375 $ 841,182 $ 356,993 $ 452 $ 4,069,683 Gross charge-offs Commercial $ $ 41 $ $ 2 $ $ 8 $ $ $ 51 Municipal Commercial real estate 27 27 Residential real estate Consumer 90 143 186 125 22 74 640 Equipment Financing 58 58 Total Gross charge-offs $ 90 $ 242 $ 186 $ 127 $ 22 $ 109 $ $ $ 776 As of December 31, 2023 (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial Pass $ 9,856 $ 38,172 $ 28,127 $ 29,966 $ 44,551 $ 82,190 $ 131,536 $ 650 $ 365,048 Special Mention 876 182 49 832 1,939 Substandard 15 19 42 33 534 781 1,424 Total Commercial 9,871 39,067 28,351 29,966 44,584 82,773 133,149 650 368,411 Municipal Pass 1,888 48,095 94,791 10,804 16 19,652 58 175,304 Special Mention Substandard Total Municipal 1,888 48,095 94,791 10,804 16 19,652 58 175,304 Commercial real estate Pass 156,277 553,754 491,506 143,068 153,426 351,142 117 1,849,290 Special Mention 1,299 360 2,761 4,420 Substandard 169 1,338 1,520 160 697 5,524 9,408 Total Commercial real estate 156,446 556,391 493,026 143,228 154,483 359,427 117 1,863,118 Residential real estate Pass 17,385 52,093 65,280 27,118 16,652 84,652 83,507 13,490 360,177 Special Mention Substandard 4 329 288 5 626 Total Residential real estate 17,389 52,093 65,280 27,447 16,652 84,940 83,512 13,490 360,803 Consumer Pass 27,053 30,307 12,460 5,441 3,107 2,981 694 82,043 Special Mention Substandard 58 79 31 30 20 218 Total Consumer 27,053 30,365 12,539 5,472 3,137 3,001 694 82,261 Total Loans $ 212,647 $ 726,011 $ 693,987 $ 216,917 $ 218,872 $ 549,793 $ 217,413 $ 14,257 $ 2,849,897 Gross charge-offs Commercial $ $ $ $ 21 $ $ 33 $ 4 $ $ 58 Municipal Commercial real estate 2,598 2,598 Residential real estate Consumer 95 101 69 49 55 369 Total Gross charge-offs $ $ 95 $ 101 $ 90 $ 49 $ 2,686 $ 4 $ $ 3,025 The major classifications of loans by past due status are summarized as follows: September 30, 2024 Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and (Dollars in thousands) Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 762 $ 173 $ 841 $ 1,776 $ 698,136 $ 699,912 $ Municipal 190,167 190,167 Real estate: Commercial 2,226 206 8,799 11,231 2,298,357 2,309,588 Residential 1,153 1,136 4,056 6,345 544,245 550,590 558 Consumer 1,759 687 166 2,612 143,348 145,960 11 Equipment Financing 821 544 1,365 172,101 173,466 Total $ 6,721 $ 2,746 $ 13,862 $ 23,329 $ 4,046,354 $ 4,069,683 $ 569 December 31, 2023 Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and (Dollars in thousands) Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 53 $ 155 $ 10 $ 218 $ 368,193 $ 368,411 $ Municipal 175,304 175,304 Real estate: Commercial 152 5 279 436 1,862,682 1,863,118 Residential 1,456 50 1,610 3,116 357,687 360,803 986 Consumer 1,069 285 85 1,439 80,822 82,261 Total $ 2,730 $ 495 $ 1,984 $ 5,209 $ 2,844,688 $ 2,849,897 $ 986 Allowance for Credit Losses on Off Balance Sheet Commitments The following table presents the activity in the ACL on off balance sheet commitments, which include commitments to extend credit, unused portions of lines of credit and standby letters of credit, for the three and nine months ended September 30, 2024 and 2023: For the three months ended (Dollars in thousands) September 30, 2024 September 30, 2023 Beginning balance $ 334 $ 93 Merger related adjustments 1,179 Credit to credit losses recorded in noninterest expense (784) (12) Total allowance for credit losses on off balance sheet commitments $ 729 $ 81 For the nine months ended (Dollars in thousands) September 30, 2024 September 30, 2023 Beginning balance $ 43 $ 179 Impact of adopting Topic 326 270 Merger related adjustments 1,179 Credit to credit losses recorded in noninterest expense (493) (368) Total allowance for credit losses on off balance sheet commitments $ 729 $ 81 The contractual amounts of off-balance sheet commitments at September 30, 2024 and 2023 are as follows: (Dollars in thousands) 2024 2023 Commitments to extend credit $ 160,389 $ 203,183 Unused portions of lines of credit 569,195 370,792 Standby letters of credit 61,943 62,181 $ 791,527 $ 636,156 Modifications to Borrowers Experiencing Financial Difficulty ASU 2022-02, Financial Instruments - Credit Losses (Topic 326) Troubled Debt Restructurings and Vintage Disclosures (“ASU 2022-02”) eliminated the accounting guidance for troubled debt restructurings while enhancing disclosure requirements for certain loan refinancing and restructurings by creditors when a borrower is experiencing financial difficulty. In accordance with the new guidance, the Company no longer evaluates loans with modifications made to borrowers experiencing financial difficulty individually for impairment, nor establishes a related specific reserve for such loans, but rather these loans are included in their respective portfolio segment and evaluated collectively for impairment to establish an ACL. There were no modifications made to borrowers experiencing financial difficulty during the three months ended September 30, 2024. There was During the three and nine months ended September 30, 2024 and September 30, 2023, there were no defaults on loan modifications made to borrowers experiencing financial difficulty.

Other assets

Other assets	9 Months Ended
Other assets	Sep. 30, 2024
Other assets
Other assets	8. Other assets: The components of other assets at September 30, 2024 and December 31, 2023 are summarized as follows: (Dollars in thousands) September 30, 2024 December 31, 2023 Other real estate owned $ 1,152 $ Mortgage servicing rights 832 870 Prepaid shares tax 1,489 949 Prepaid pension 4,144 3,764 Prepaid expenses 7,704 4,840 Restricted equity securities (FHLB and other) 9,829 5,180 Investment in low income housing partnership 15,779 5,015 Interest rate swaps (1) 17,338 19,278 Other assets 11,789 2,353 Total $ 70,056 $ 42,249 (1) Interest rate swaps balance represents the fair value of the commercial loan back-to-back swaps.

Fair value estimates

Fair value estimates	9 Months Ended
Fair value estimates	Sep. 30, 2024
Fair value estimates
Fair value estimates	9. 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. At September 30, 2024, the Company owned 35 corporate debt securities with an aggregate amortized cost and fair value of $32.3 million and $32.2 million, respectively. At September 30, 2024, the market for three corporate debt securities was not active based on transaction criteria for similar instruments. Both the aggregate amortized cost and fair value for these three securities was $4.3 million at September 30, 2024. The Company obtained valuations for these securities from a third-party service provider that prepared the valuations using a market approach that involves identifying a population of transactions for similar instruments and incorporating an evaluation to capture credit risk associated with these bonds. Management takes measures to validate the service providers’ analysis and is actively involved in the valuation process, including reviewing the population and evaluation of credit risk. Management believes this approach to be a conservative approach as it takes into consideration securities that have longer maturities or longer call dates, issuers with smaller asset sizes, and securities with smaller issue amounts. These factors are typically considered to be factors that would add credit spread to a bond, thus resulting in a higher required yield. Management believes the valuation results from this market approach to be consistent with pricing and data for similar deals at September 30, 2024. The Company considers the inputs used in the market approach to be unobservable Level 3 inputs because, while inputs are based on actual transactions, the relative number of transactions in the population is small and subjective assumptions are used in considering factors considered to incorporate credit spreads into the price determination. Management will continue to monitor the market for these securities to assess the market activity and the availability of observable inputs and will continue to apply these controls and procedures to the valuations received from People's third-party service provider. During the periods ended September 30, 2024 there were no transfers into Level 3 other than those Level 3 assets acquired in the FNCB merger. During the year ended December 31, 2023 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: The fair values of U.S. Treasury securities and marketable equity securities are based on quoted market prices from active exchange markets. The fair values of debt securities are based on pricing from a matrix pricing model. Interest rate swaps and options: The Company’s interest rate swaps and options are reported at fair value utilizing Level 2 inputs. Values of these instruments are obtained through an independent pricing source utilizing information which may include market observed quotations for interest rate, forward rates, rate volatility, and volatility surface. Derivative contracts create exposure to interest rate movements as well as risks from the potential of non-performance of the counterparty. Assets and liabilities measured at fair value on a recurring basis at September 30, 2024 and December 31, 2023 are summarized as follows: Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable (Dollars in thousands) Identical Assets Inputs Inputs September 30, 2024 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 180,815 $ 180,815 $ $ U.S. government-sponsored enterprises State and municipals: Taxable 77,391 77,391 Tax-exempt 68,170 68,170 Residential mortgage-backed securities: U.S. government agencies 1,481 1,481 U.S. government-sponsored enterprises 130,070 130,070 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4,548 4,548 Private collateralized mortgage obligations 43,247 43,247 Asset backed securities 23,845 23,845 Corporate debt securities 32,212 27,867 4,345 Negotiable certificates of deposit 707 707 Common equity securities 3,921 3,921 Total investment securities $ 566,407 $ 184,736 $ 377,326 $ 4,345 Interest rate swap-other assets $ 17,338 $ 17,338 Interest rate swap-other liabilities $ (15,864) $ (15,864) Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable (Dollars in thousands) Identical Assets Inputs Inputs December 31, 2023 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 184,057 $ 184,057 $ $ U.S. government-sponsored enterprises 2,152 2,152 State and municipals: Taxable 57,100 57,100 Tax-exempt 67,124 67,124 Mortgage-backed securities: U.S. government agencies 724 724 U.S. government-sponsored enterprises 84,040 84,040 Corporate debt securities 3,730 3,730 Common equity securities 98 98 Total investment securities $ 399,025 $ 184,155 $ 214,870 $ Interest rate swap-other assets $ 19,278 $ 19,278 Interest rate swap-other liabilities $ (18,808) $ (18,808) Assets and liabilities measured at fair value on a nonrecurring basis at September 30, 2024 and December 31, 2023 are summarized as follows: Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable (Dollars in thousands) Identical Assets Inputs Inputs September 30, 2024 Amount (Level 1) (Level 2) (Level 3) Loans individually evaluated for credit loss $ 21,066 $ $ $ 21,066 Other real estate owned $ 1,152 $ 1,152 Fair Value Measurement Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable (Dollars in thousands) Identical Assets Inputs Inputs December 31, 2023 Amount (Level 1) (Level 2) (Level 3) Loans individually evaluated for credit loss $ 4,740 $ $ $ 4,740 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 (Dollars in thousands, except percents) Fair Value Range September 30, 2024 Estimate Valuation Techniques Unobservable Input (Weighted Average) Loans individually evaluated for credit loss $ 21,066 Appraisal of collateral Appraisal adjustments 7.1% to 94.0% (40.0)% Liquidation expenses 3.0% to 6.0% (5.8)% Other real estate owned $ 1,152 Appraisal of collateral Appraisal adjustments 1.0% to 1.0% (1.0)% Liquidation expenses 3.0% to 6.0% (4.5)% Quantitative Information about Level 3 Fair Value Measurements (Dollars in thousands, except percents) Fair Value Range December 31, 2023 Estimate Valuation Techniques Unobservable Input (Weighted Average) Loans individually evaluated for credit loss $ 4,740 Appraisal of collateral Appraisal adjustments 22.8% to 82.4% (63.6)% Liquidation expenses 3.0% to 6.0% (5.2)% 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, 2024 and December 31, 2023 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 (Dollars in thousands) Carrying Fair Assets Inputs Inputs September 30, 2024 Value Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and due from banks $ 285,469 $ 285,469 $ 285,469 $ $ Investment securities: Available for sale 562,486 562,486 180,815 377,326 4,345 Common equity securities 3,921 3,921 3,921 Held to maturity 79,861 69,034 69,034 Loans held for sale 803 803 803 Net loans 4,030,342 3,949,667 3,949,667 Accrued interest receivable 17,979 17,979 17,979 Mortgage servicing rights 832 1,669 1,669 Restricted equity securities (FHLB and other) 9,829 9,829 9,829 Other assets - interest rate swaps 17,338 17,338 17,338 Total $ 5,008,860 $ 4,918,195 Financial liabilities: Deposits $ 4,637,864 $ 4,639,273 $ $ 4,639,273 $ Short-term borrowings 37,346 37,346 37,346 Long-term debt 111,489 112,680 112,680 Subordinated debt 33,000 32,232 32,232 Junior subordinated debt 8,015 8,471 8,471 Accrued interest payable 6,829 6,829 6,829 Other liabilities - interest rate swaps 15,864 15,864 15,864 Total $ 4,850,407 $ 4,852,695 Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable (Dollars in thousands) Carrying Fair Assets Inputs Inputs December 31, 2023 Value Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and due from banks $ 187,365 $ 187,365 $ 187,365 $ $ Investment securities: Available for sale 398,927 398,927 184,057 214,870 Common equity securities 98 98 98 Held to maturity 84,851 71,698 71,698 Loans held for sale 250 250 Net loans 2,828,002 2,593,151 2,593,151 Accrued interest receivable 12,734 12,734 12,734 Mortgage servicing rights 870 1,745 1,745 Restricted equity securities (FHLB and other) 5,180 5,180 5,180 Other assets - interest rate swaps 19,278 19,278 19,278 Total $ 3,537,555 $ 3,290,426 Financial liabilities: Deposits $ 3,279,037 $ 3,274,774 $ $ 3,274,774 $ Short-term borrowings 17,590 17,590 17,590 Long-term debt 25,000 24,924 24,924 Subordinated debt 33,000 45,504 45,504 Accrued interest payable 5,765 5,765 5,765 Other liabilities - interest rate swaps 18,808 18,808 18,808 Total $ 3,379,200 $ 3,387,365

Employee benefit plans

Employee benefit plans	9 Months Ended
Employee benefit plans	Sep. 30, 2024
Employee benefit plans
Employee benefit plans	10. 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 $607 thousand and $1.3 million in 2024 and $426 thousand and $1.3 million in 2023 relating to the employee benefit plans. (Dollars in thousands) Pension Benefits Three Months Ended September 30, 2024 2023 Net periodic pension benefit: Interest cost $ 158 $ 164 Expected return on plan assets (320) (293) Amortization of unrecognized net loss 49 50 Net periodic pension benefit $ (113) $ (79) (Dollars in thousands) Pension Benefits Nine Months Ended September 30, 2024 2023 Net periodic pension benefit: Interest cost $ 475 $ 492 Expected return on plan assets (961) (878) Amortization of unrecognized net loss 146 149 Net periodic pension benefit: (340) (237) In May 2017, the Company’s stockholders approved the 2017 equity incentive plan (“2017 Plan”). In May 2023, the Company’s stockholders approved the 2023 equity incentive plan (“2023 Plan”). Under the 2017 Plan and 2023 Plan the compensation committee of the Company’s board of directors has the authority to, among other things: ● Select the persons to be granted awards under the 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 and 2023 Plan include directors, officers, employees, consultants and other service providers of the Company and its subsidiaries. On July 1, 2024, as a result of the FNCB merger, the Company assumed the outstanding and unvested restricted stock awards granted under the FNCB 2023 Equity Incentive Plan. These awards will be expensed over the remaining life of 57 months . As of September 30, 2024, 66,298 shares of the Company’s common stock were available for grants as awards pursuant to the 2023 Plan. While the 2017 Plan will remain in effect in accordance with its terms to govern outstanding awards under that plan, the Company intends to make future grants under the 2023 Plan. If any awards outstanding under the 2017 Plan or 2023 Plan are forfeited by the holder or canceled by the Company, the underlying shares would be available for regrant to others under the 2023 Plan. The 2017 Plan and 2023 Plan authorize grants of stock options, stock appreciation rights, cash awards, performance awards, restricted stock and restricted stock units. For the nine months ended September 30, 2024, the Company granted 23,243 performance based restricted stock units and 8,895 time based restricted stock awards, under the 2023 Plan. For the nine months ended September 30, 2023, the Company granted The non-performance restricted stock grants made in 2024, 2023 and 2022 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 tangible common 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 (loss) and comprehensive income. The Company recognized net compensation costs of $203 thousand and $603 thousand for the three and nine months ended September 30, 2024 for awards granted under the 2023 Plan and recognized compensation expense of $84 thousand and $251 thousand for the three and nine months ended September 30, 2024 for the awards granted under the 2017 Plan. During the three months ended September 30, 2024, $33 thousand was recognized as a result of the awards assumed in the FNCB merger. As of September 30, 2024, the Company had $2.1 million of unrecognized compensation expense associated with restricted stock and restricted stock unit awards. The remaining cost is expected to be recognized over a weighted average vesting period of under 2.6 years.

Derivatives and hedging activit

Derivatives and hedging activities	9 Months Ended
Derivatives and hedging activities	Sep. 30, 2024
Derivatives and hedging activities
Derivatives and hedging activities	11. 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 existing credit derivatives result from participations of loan participation arrangements, therefore, are not used to manage interest rate risk in the Company’s assets or liabilities. 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 (loss) income, (“AOCI”) and subsequently reclassified into interest expense/income in the same period(s) during which the hedged transaction affects earnings. Amounts reported in AOCI 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 Fair Value Hedges of Interest Rate Risk The Company is exposed to changes in the fair value of certain of its fixed-rate pools of assets due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate, the Secured Overnight Financing Rate (“SOFR”). Interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income. As of September 30, 2024, the following amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges: Line Item in the Consolidated Statement of Financial Position in Which the Hedged Item is Included Amortized Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) (Dollars in thousands) September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 AFS Securities (1) $ 162,038 $ 143,573 $ 1,056 $ 871 Fixed Rate Loans 50,484 50,462 484 462 Total $ 212,522 $ 194,035 $ 1,540 $ 1,333 (1) These amounts include the amortized cost basis of closed portfolios of fixed rate assets used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At September 30, 2024, the amortized cost basis of the closed portfolios used in these hedging relationships was $162.0 million. The amounts of the designated hedged items were $100.0 million. (2) Fixed Rate Loan Assets. These amounts include the carrying value of fixed rate loan assets used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At September 30, 2024, the principal value of the hedged item was $50.0 million. 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 derivatives 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 derivatives associated with this program do not meet the strict hedge accounting requirements, changes in the fair value of both the customer derivatives and the offsetting derivatives are recognized directly in earnings. As of September 30, 2024, the Company had The Company’s existing credit derivatives result from participations in or out of interest rate swaps provided by or to external lenders as part of loan participation arrangements, therefore, are not used to manage interest rate risk in the Company’s assets or liabilities. Derivatives not designated as hedges are not speculative and result from a service the Company provides to certain lenders which participate in loans. 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 Sheet as of September 30, 2024 and December 31, 2023. Fair Values of Derivative Instruments Derivative Assets Derivative Liabilities As of September 30, 2024 As of December 31, 2023 (1) As of September 30, 2024 As of December 31, 2023 (Dollars in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest Rate Products $ Other Assets $ Other Assets $ $ 150,000 Other Liabilities $ 1,510 Other Liabilities $ 1,270 Total derivatives designated as hedging instruments $ $ $ 1,510 $ 1,270 Derivatives not designated as hedging instruments Interest Rate Products $ 289,313 Other Assets $ 17,845 Other Assets $ 19,833 $ 289,313 Other Liabilities $ 17,546 Other Liabilities $ 19,364 Other Contracts 24,795 Other Assets 2 Other Assets 3 7,250 Other Liabilities Other Liabilities Total derivatives not designated as hedging instruments $ 17,847 $ 19,836 $ 17,546 $ 19,364 (1) The notional asset amount of interest rate swaps at December 31, 2023 was $230.3 million and $8.4 million for risk participation agreements. Amounts include accrued interest. Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive (Loss) Income The table below presents the effect of fair value and cash flow hedge accounting on accumulated other comprehensive (loss) income as of September 30, 2024 and September 30, 2023. (Dollars in thousands) Three months ended September 30, 2024 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ $ $ Interest Income $ $ $ Total $ $ $ $ $ $ (Dollars in thousands) Three months ended September 30, 2023 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ $ $ Interest Income $ (16) $ $ (16) Total $ $ $ $ (16) $ $ (16) (Dollars in thousands) Nine months ended September 30, 2024 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ $ $ Interest Income $ $ $ Total $ $ $ $ $ $ (Dollars in thousands) Nine months ended September 30, 2023 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ (1) $ $ (1) Interest Income $ (48) $ $ (48) Total $ (1) $ $ (1) $ (48) $ $ (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 (Loss) and Comprehensive Income (Loss) The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of income (loss) and comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023. 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, 2024 2023 (Dollars in thousands) Interest Income Interest Income Total amounts of income and expense line items presented in the statements of income and comprehensive income (loss) in which the effects of fair value or cash flow hedges are recorded. $ 586 $ 188 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships Interest contracts Hedged items 2,010 (731) Derivatives designated as hedging instruments (1,424) 935 Derivatives designated as hedging instruments Gain or (loss) on cash flow hedging relationships Interest contracts Amount of (loss) gain reclassified from AOCI into income (16) Amount of gain reclassified from AOCI into income - Included Component Amount of (loss) reclassified from AOCI into income - Excluded Component $ $ (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, 2024 2023 (Dollars in thousands) Interest Income Interest Income Total amounts of income and expense line items presented in the statements of income and comprehensive income (loss) in which the effects of fair value or cash flow hedges are recorded. $ 21 $ 318 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships Interest contracts Hedged items 206 (779) Derivatives designated as hedging instruments (185) 1,145 Gain or (loss) on cash flow hedging relationships Interest contracts Amount of (loss) gain reclassified from AOCI into income (48) Amount of gain reclassified from AOCI into income - Included Component Amount of (loss) reclassified from AOCI into income - Excluded Component $ $ (48) Effect of Derivative Instruments Not Designated as Hedging Instruments on the Consolidated Statements of Income (Loss) and Comprehensive Income (Loss) The tables below present the effect of the Company’s derivative financial instruments on the consolidated statements of income (loss) and comprehensive income (loss) for the three and nine months ended September 30, 2024 and 2023. Amount of Gain or (Loss) Amount of Gain or (Loss) Amount of Gain Amount of Gain or (Loss) Recognized in Recognized in Recognized in Recognized in Location of Gain or (Loss) Income on Derivative Income on Derivative Income on Derivative Income on Derivative Recognized in Income Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended (Dollars in thousands) on Derivative September 30, 2024 September 30, 2024 September 30, 2023 September 30, 2023 Derivatives Not Designated as Hedging Instruments: Interest Rate Products Other income / (expense) $ (120) $ (170) $ 194 $ 56 Other Contracts Other income / (expense) 1 31 Total $ (120) $ (170) $ 195 $ 87 Fee Income Fee income $ 67 $ 195 $ $ 457 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, 2024 and December 31, 2023. 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, 2024 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 (Dollars in thousands) Assets Balance Sheet Balance Sheet Instruments Posted Amount Derivatives $ 17,845 $ $ 17,845 $ $ 12,410 $ 5,435 Offsetting of Derivative Liabilities as of September 30, 2024 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 (Dollars in thousands) Liabilities Balance Sheet Balance Sheet Instruments Posted* Amount Derivatives $ 19,057 $ $ 19,057 $ 19,057 $ $ *Cash collateral of $3.320MM was paid in September 2024, but not presented as an offset above. Offsetting of Derivative Assets as of December 31, 2023 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 (Dollars in thousands) Assets Balance Sheet Balance Sheet Instruments Posted Amount Derivatives $ 19,833 $ $ 19,833 $ $ 17,590 $ 2,243 Offsetting of Derivative Liabilities as of December 31, 2023 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 (Dollars in thousands) Liabilities Balance Sheet Balance Sheet Instruments Posted Amount Derivatives $ 20,633 $ $ 20,633 $ 20,633 $ $ 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, 2024, 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 $3.3 million. As of December 31, 2023, 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 million. The Company has minimum collateral posting thresholds with certain of its derivative counterparties, and has posted collateral of 30, 2024. 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, 2024
Deposits
Deposits	12. Deposits The major components of interest-bearing and noninterest-bearing deposits at September 30, 2024 and December 31, 2023 are summarized as follows: (Dollars in thousands) September 30, 2024 December 31, 2023 Interest-bearing deposits: Money market accounts $ 1,018,575 $ 782,243 NOW accounts 1,439,382 796,426 Savings accounts 509,412 429,011 Time deposits less than $250 824,791 505,409 Time deposits $250 or more 128,139 121,265 Total interest-bearing deposits 3,920,299 2,634,354 Noninterest-bearing deposits 717,565 644,683 Total deposits $ 4,637,864 $ 3,279,037 The FNCB merger added $1.3 billion of retail deposits and $140.6 million of brokered deposits. The combined deposit base consisted of 38.6% retail accounts, 33.3% commercial accounts, 19.7% municipal relationships and 8.4% brokered deposits at September 30, 2024. At September 30, 2024, total estimated uninsured deposits, were approximately of total deposits at December 31, 2023. Included in the uninsured total at September 30, 2024 is million of affiliate company deposits. We also offer customers access to IntraFi's CDARS and ICS programs through which their deposits may be allocated to separate FDIC-insured institutions, while they are able to maintain their relationship with our bank. The scheduled maturities of time deposits are summarized below, through September 30 of each year: (Dollars in thousands) 2025 $ 645,140 2026 121,549 2027 70,920 2028 104,268 2029 6,240 Thereafter 4,813 $ 952,930

Borrowings

Borrowings	9 Months Ended
Borrowings	Sep. 30, 2024
Borrowings
Borrowings	13. Borrowings Short-term borrowings consist of FHLB overnight borrowings or advances with stated original terms of less than twelve months, Bank Term Funding Program (“BTFP”) advances and other borrowings related to collateral held from derivative counterparties. Short-term borrowings at September 30, 2024 included acquired at fair value, which the Company assumed in the FNCB merger. The Federal Reserve Bank established the BTFP through the Discount Window to provide additional funding to eligible depository institutions during a period of stress. The BTFP is collateralized by high-quality securities valued at par including U.S. Treasury securities, U.S. government agency debt and mortgage-backed securities and other qualifying securities. Also included in short-term borrowings at September 30, 2024 was cash collateral pledged by derivative counterparties to offset interest rate exposure, The table below outlines short-term borrowings at and for the nine months ended September 30, 2024 and at and for the year ended December 31, 2023: At and for the nine months ended September 30, 2024 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End (Dollars in thousands, except percents) Balance Balance Balance the Year of the Period FHLB advances - Overnight $ $ 8,993 $ 83,900 5.53 % % Federal Reserve Bank - BTFP 24,936 8,270 24,936 4.83 4.76 Other borrowings 12,410 19,086 25,050 5.40 4.83 Total short-term borrowings $ 37,346 $ 36,349 $ 133,886 5.31 % 4.78 % At and for the year ended December 31, 2023 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End (Dollars in thousands, except percents) Balance Balance Balance the Year of the Year Other borrowings $ 17,590 $ 19,160 $ 28,470 5.54 % 5.35 % FHLB advances 19,171 158,000 4.48 Total short-term borrowings $ 17,590 $ 38,331 $ 186,470 5.01 % 5.35 % 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, 2024, the maximum borrowing capacity was million was used to issue standby letters of credit to collateralize public fund deposits. At December 31, 2023, the maximum borrowing capacity was 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. In addition to borrowings from FHLB and correspondent bank lines of credit, we have availability through the Federal Reserve Bank’s Discount Window of $544.8 million at September 30, 2024. The FRB’s borrower-in-custody program allows depository institutions to pledge loans as collateral for Discount Window advances while retaining possession of the loan documentation. At September 30, 2024, million in borrowing capacity. At September 30, 2024, securities with a current par value of million. An additional At December 31, 2023, $365.8 million in loans were pledged as collateral for the borrower-in-custody program and provided $246.1 million in borrowing capacity. At December 31, 2023, thousand was pledged to the Discount Window. The BTFP allowed depository institutions to borrow up to the par value of eligible securities pledged at the FRB. The BTFP expired on March 11, 2024 and the Company transferred the eligible securities pledged to the Federal Reserve Discount Window. Long-term debt consisting of advances from the FHLB at September 30, 2024 and December 31, 2023 is as follows: Interest Rate (Dollars in thousands, except percents) Fixed September 30, 2024 December 31, 2023 December 2024 4.60 12,650 March 2025 4.37 10,000 10,000 December 2025 4.40 9,567 December 2025 4.36 20,000 March 2026 4.78 4,292 March 2026 4.20 15,000 15,000 May 2026 4.08 5,000 June 2027 4.16 5,224 August 2027 4.40 6,461 October 2027 5.18 9,107 March 2028 4.45 % 14,188 $ 111,489 $ 25,000 Maturities of long-term debt, by contractual maturity, for the remainder of 2024 and subsequent years are as follows: (Dollars in thousands) 2024 $ 12,650 2025 39,567 2026 24,292 2027 20,792 2028 14,188 Thereafter $ 111,489 The advances from the FHLB totaling $111.5 million are not convertible and have a fixed rate.

Subordinated debt

Subordinated debt	9 Months Ended
Subordinated debt	Sep. 30, 2024
Subordinated debt
Subordinated debt	14. 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 Peoples Bank. On July 1, 2024, the Company assumed $10.3 million of floating rate junior subordinated deferrable interest debentures due December 15, 2023 (“Debentures”) as a result of the FNCB merger at a fair market value of $8.0 million. The Debentures are held by First National Community Statutory Trust I, a Delaware statutory trust (the “Trust”). The Debentures and corresponding trust preferred securities (the “Trust Securities”) have a variable interest rate which resets quarterly to 3-month CME Term SOFR plus a spread adjustment of 0.26161% and a margin of 1.67% . The Debentures are unsecured and rank subordinate and junior in right to all indebtedness, liabilities and obligations of the Company. The Debentures represent the sole assets of the Trust. Interest on the Trust Securities is deferrable until a period of twenty consecutive quarters has elapsed. The Trust Securities may be prepaid beginning December 15, 2011. The Company’s investment in the Trust is reflected on a deconsolidated basis. The Debentures totaling $8.0 million, have been reflected in borrowed funds in the consolidated balance sheets under the caption “Junior Subordinated Debentures” and interest expense on the Debentures is in its consolidated statements of income (loss) and comprehensive income (loss).

Related party transactions

Related party transactions	9 Months Ended
Related party transactions	Sep. 30, 2024
Related party transactions
Related party transactions	15. Related party transactions In conducting its business, Peoples has engaged in, and intends to continue to engage in, banking and financial transactions with directors, executive officers and their related parties. Balances at September 30, 2024 include those acquired due to the FNCB merger. Peoples Bank has granted loans, letters of credit and lines of credit to directors, executive officers and their related parties. The following table summarizes the changes in the total amounts of such outstanding loans, advances under lines of credit, net of any participations sold, as well as repayments during the three months ended September 30, 2024 and 2023. Additions during the three months ended September 30, 2024 include loans and advances acquired in the FNCB merger. (Dollars in thousands) Three Months Ended September 30, 2024 2023 Balance, beginning of period $ 99,491 $ 2,818 Additions, new loans and advances 32,337 29 Repayments (8,203) (875) Balance, end of period $ 123,625 $ 1,972 At September 30, 2024 and December 31, 2023, there were no loans to directors, executive officers and their related parties that were not performing in accordance with the original terms of the loan agreements. Deposits from directors, executive officers and their related parties held by Peoples Bank at September 30, 2024 and December 31, 2023 were $131.9 million and $7.8 million, respectively.

Regulatory matters

Regulatory matters	9 Months Ended
Regulatory matters	Sep. 30, 2024
Regulatory matters
Regulatory matters	16. Regulatory matters The Company’s ability to pay dividends to its shareholders is largely dependent on Peoples Bank’s ability to pay dividends to the Company. Regulations with respect to the banking industry limit the amount of dividends that may be paid without prior approval of Peoples Bank’s regulatory agency. The Company and the Peoples Bank are subject to various regulatory capital requirements administered by the federal banking agencies. Failure to meet minimum capital requirements can initiate certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could have a direct material adverse effect on the Company’s financial statements. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, the Company and Peoples Bank must meet specific capital guidelines that involve quantitative measures of the Company’s and Peoples Bank’s assets, liabilities, and certain off-balance sheet items as calculated under regulatory accounting practices. The Company’s and Peoples Bank’s capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings, and other factors. Management believes, as of September 30, 2024 and December 31, 2023, that the Company and Peoples Bank met all applicable capital adequacy requirements. Current quantitative measures established by regulation to ensure capital adequacy require Peoples Bank to maintain minimum amounts and ratios (set forth in the tables below) of Total capital, Tier I capital, and Tier I common equity (as defined in the regulations) to risk-weighted assets (as defined), and of Tier I capital (as defined) to average assets (as defined). The following tables present summary information regarding Peoples Bank’s risk-based capital and related ratios at September 30, 2024 and December 31, 2023: Minimum Minimum Required To Required For Be Well Minimum Capital Capitalized Required For Adequacy Under Prompt Capital Purposes with Corrective Adequacy Conservation Action Peoples Bank Purposes Buffer Regulations (Dollars in thousands) Amount Ratio Ratio Ratio Ratio September 30, 2024 Total capital ( to risk-weighted assets) $ 467,588 11.68 % 8.00 % 10.50 % 10.00 % Tier I capital ( to risk-weighted assets) 427,518 10.68 6.00 8.50 8.00 Tier I common equity ( to risk-weighted assets) 427,518 10.68 4.50 7.00 6.50 Tier I capital ( to average assets) 427,518 8.23 4.00 4.00 5.00 Total risk-weighted assets 4,002,166 Total average assets 5,306,258 Minimum Minimum Required To Required For Be Well Minimum Capital Capitalized Required For Adequacy Under Prompt Capital Purposes with Corrective Adequacy Conservation Action Peoples Bank Purposes Buffer Regulations (Dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2023 Total capital ( to risk-weighted assets) $ 375,268 14.12 % 8.00 % 10.50 % 10.00 % Tier I capital ( to risk-weighted assets) 353,330 13.30 6.00 8.50 8.00 Tier I common equity ( to risk-weighted assets) 353,330 13.30 4.50 7.00 6.50 Tier I capital ( to average assets) 353,330 9.34 4.00 4.00 5.00 Total risk-weighted assets 2,656,901 Total average assets 3,845,219

Subsequent events

Subsequent events	9 Months Ended
Subsequent events	Sep. 30, 2024
Subsequent events
Subsequent events	17. Subsequent events On October 25, 2024, the Board of Directors approved a resolution to sell the building at 150 North Washington Avenue, Scranton PA, in which the Company’s current corporate headquarters are located, and to enter into a commercial lease agreement with the buyer to occupy certain pre-defined floors.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended						9 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net Income (Loss)	$ (4,337)	$ 3,282	$ 3,466	$ 6,746	$ 9,425	$ 7,579	$ 2,411	$ 23,750

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	9 Months Ended
Summary of significant accounting policies (Policies)	Sep. 30, 2024
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 direct and indirect subsidiaries, including Peoples Security Bank and Trust Company (“Peoples Bank”) and 1 st Equipment Finance Inc., 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, 2024, 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 credit losses, fair value of financial instruments, the fair value of assets acquired and liabilities assumed in business combinations, 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, 2023.
Fourth Quarter Dividend Declaration	Fourth Quarter Dividend Decl aration On October 25, 2024 , the Company’s board of directors declared a fourth quarter dividend of $0.6175 per share. The dividend is payable on December 13, 2024 to shareholders of record as of November 29, 2024 . The dividend is consistent with the dividend declared in the third quarter of 2024 and is a 50.6 % increase from the fourth quarter in the prior year, which was contemplated as part of the Merger Agreement between the Company and FNCB.
Recent accounting standards	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, 2023. 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. ASU 2024-01, “Compensation – Stock Compensation (Topic 718) – Scope Application of Profits Interest and Similar Awards” (ASU 2024-01) of Topic 718 or is not a share-based payment arrangement and therefore within the scope of other guidance. ASU 2024-01 provides an illustrative example with multiple fact patterns and also amends certain language in the “Scope” and “Scope Exceptions” sections of Topic 718 to improve its clarity and operability without changing the guidance. Entities can apply the amendments either retrospectively to all prior periods presented in the financial statements or prospectively to profits interest and similar awards granted or modified on or after the date of adoption. If prospective application is elected, an entity must disclose the nature of and reason for the change in accounting principle. ASU 2024-01 is effective January 1, 2025, including interim periods, and is not expected to have a significant impact on the consolidated financial statements. ASU 2024-02 “Codification Improvements” (“ASU 2024-02”)

Business Combinations (Tables)

Business Combinations (Tables)	9 Months Ended
Business Combinations (Tables)	Sep. 30, 2024
Business Combinations
Schedule of Acquired Assets and Assumed Liabilities Measured at Estimated Fair Values	(Dollars in thousands) Purchase Price Consideration FNCB Bancorp, Inc. common shares settled for stock 20,110,771 Exchange Ratio 0.146 Peoples Financial Services Corp. shares issued 2,935,456 Price per share of Peoples Financial Services Corp. common stock on June 28, 2024 45.54 Purchase price consideration for common stock $ 133,681 Cash in lieu of fractional shares 32 Total purchase price consideration $ 133,713 FNCB Bancorp, Inc. Book Value 6/30/2024 Fair Value Adjustments FNCB Bancorp, Inc. Fair Value 6/30/2024 Total purchase price consideration $ $ $ 133,713 Recognized amounts of identifiable assets acquired and liabilities assumed Cash and cash equivalents 28,843 28,843 Investment securities 426,107 (4,180) 421,927 Loans held for investment 1,267,330 (71,579) 1,195,751 Allowance for credit losses (13,921) 12,353 (1,568) Loans held for investment, net of allowance 1,253,409 (59,226) 1,194,183 Restricted stock 9,934 9,934 Premises and equipment, net 13,960 593 14,553 Accrued interest receivable 7,448 7,448 Core deposit intangibles 36,629 36,629 Wealth management customer list intangible 988 988 Deferred tax asset 14,415 5,083 19,498 Operating lease right of use asset 2,821 263 3,084 Other assets 62,728 (3,483) 59,245 Total identifiable assets acquired 1,819,665 (23,333) 1,796,332 Deposits 1,429,406 (2,405) 1,427,001 Borrowings 227,135 (851) 226,284 Trust preferred 10,310 (2,318) 7,992 Accrued interest payable 1,966 1,966 Operating lease liability 3,082 3,082 Other liabilities 9,704 178 9,882 Total liabilities assumed 1,681,603 (5,396) 1,676,207 Total identifiable net assets $ 138,062 ($ 17,937) $ 120,125 Goodwill $ 13,588
Schedule of costs identified and classified as merger-related expenses of the acquisition	Three Months Ended Nine Months Ended September 30, 2024 September 30, 2024 Severance expenses $ 187 $ 187 System termination and integration fees 8,375 8,551 Financial advisory fees 582 1,173 Legal and professional fees 87 772 Other merger related expenses 422 527 Total $ 9,653 $ 11,210

Other comprehensive income (l_2

Other comprehensive income (loss) (Tables)	9 Months Ended
Other comprehensive income (loss) (Tables)	Sep. 30, 2024
Other comprehensive income (loss)
Schedule of components of accumulated other comprehensive (loss)	(Dollars in thousands) September 30, 2024 December 31, 2023 Net unrealized loss on investment securities available for sale $ (38,784) $ (51,527) Income tax benefit (8,482) (11,270) Net of income taxes (30,302) (40,257) Benefit plan adjustments (4,370) (4,370) Income tax benefit (956) (956) Net of income taxes (3,414) (3,414) Derivative adjustments (1,056) (871) Income tax benefit (231) (191) Net of income taxes (825) (680) Accumulated other comprehensive loss $ (34,541) $ (44,351)

Earnings per share (Tables)

Earnings per share (Tables)	9 Months Ended
Earnings per share (Tables)	Sep. 30, 2024
Earnings per share
Schedule of earnings per share	(Dollars in thousands, except per share data) 2024 2023 For the Three Months Ended September 30, Basic Diluted Basic Diluted Net (loss) income $ (4,337) $ (4,337) $ 6,746 $ 6,746 Average common shares outstanding 9,987,627 10,044,449 7,088,745 7,120,685 (Loss) earnings per share $ (0.43) $ (0.43) $ 0.95 $ 0.95 (Dollars in thousands, except per share data) 2024 2023 For the Nine Months Ended September 30, Basic Diluted Basic Diluted Net income $ 2,411 $ 2,411 $ 23,750 $ 23,750 Average common shares outstanding 8,039,734 8,094,036 7,130,506 7,165,570 Earnings per share $ 0.30 $ 0.30 $ 3.33 $ 3.31

Investment securities (Tables)

Investment securities (Tables)	9 Months Ended
Investment securities (Tables)	Sep. 30, 2024
Investment securities
Schedule of amortized cost and fair value of investment securities aggregated by investment category	September 30, 2024 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Available for sale: U.S. Treasury securities $ 189,190 $ $ 8,375 $ 180,815 U.S. government-sponsored enterprises State and municipals: Taxable 85,468 109 8,186 77,391 Tax-exempt 76,570 67 8,467 68,170 Residential mortgage-backed securities: U.S. government agencies 1,451 30 1,481 U.S. government-sponsored enterprises 144,244 1,362 15,536 130,070 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4,608 60 4,548 Private collateralized mortgage obligations 42,624 635 12 43,247 Asset backed securities 24,115 44 314 23,845 Corporate debt securities 32,307 622 717 32,212 Negotiable certificates of deposit 693 14 707 Total available for sale $ 601,270 $ 2,883 $ 41,667 $ 562,486 Held to maturity: Tax-exempt state and municipals $ 11,175 $ $ 835 $ 10,340 Residential mortgage-backed securities: U.S. government agencies 14,151 2,298 11,853 U.S. government-sponsored enterprises 54,535 7,694 46,841 Total held to maturity $ 79,861 $ $ 10,827 $ 69,034 December 31, 2023 Gross Gross Amortized Unrealized Unrealized Fair (Dollars in thousands) Cost Gains Losses Value Available for sale: U.S. Treasury securities $ 197,920 $ $ 13,863 $ 184,057 U.S. government-sponsored enterprises 2,539 387 2,152 State and municipals: Taxable 67,831 10,731 57,100 Tax-exempt 75,742 8,618 67,124 Residential mortgage-backed securities: U.S. government agencies 758 34 724 U.S. government-sponsored enterprises 89,935 17,264 72,671 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 11,729 360 11,369 Corporate debt securities 4,000 270 3,730 Total available for sale $ 450,454 $ $ 51,527 $ 398,927 Held to maturity: Tax-exempt state and municipals $ 11,201 $ 1 $ 660 $ 10,542 Residential mortgage-backed securities: U.S. government agencies 15,400 2,653 12,747 U.S. government-sponsored enterprises 58,250 9,841 48,409 Total held to maturity $ 84,851 $ 1 $ 13,154 $ 71,698
Schedule of maturity distribution	Amortized Fair (Dollars in thousands) Cost Value Within one year $ 74,667 $ 73,596 After one but within five years 163,400 154,865 After five but within ten years 77,493 71,741 After ten years 68,668 59,093 384,228 359,295 Mortgage-backed and other amortizing securities 217,042 203,191 Total $ 601,270 $ 562,486 Amortized Fair (Dollars in thousands) Cost Value After one but within five years $ 1,191 $ 1,096 After five but within ten years 9,984 9,244 11,175 10,340 Mortgage-backed securities 68,686 58,694 Total $ 79,861 $ 69,034
Schedule of fair value and unrealized losses of investment securities in continuous unrealized loss position	September 30, 2024 Less than Twelve Months Twelve Months or Longer Total Total # in a loss Unrealized Total # in a loss Unrealized Total # in a loss Unrealized (Dollars in thousands) Position Fair Value Losses Position Fair Value Losses Position Fair Value Losses Securities Available for Sale U.S. Treasury securities 41 $ 180,815 $ 8,375 41 $ 180,815 $ 8,375 State and municipals: Taxable 64 58,033 8,186 64 58,033 8,186 Tax-exempt 1 680 91 64,293 8,467 92 64,973 8,467 Residential mortgage-backed securities: U.S. government agencies 1 6 0 1 6 0 U.S. government-sponsored enterprises 1 3,601 41 31 73,997 15,495 32 77,598 15,536 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 2 4,548 60 2 4,548 60 Private collateralized mortgage obligations 9 7,699 12 9 7,699 12 Asset-backed securities 3 2,818 11 1 2,024 303 4 4,842 314 Corporate debt securities 6 6,034 315 6 3,599 402 12 9,633 717 Total 20 $ 20,832 $ 379 237 $ 387,315 $ 41,288 257 $ 408,147 $ 41,667 Securities Held to Maturity U.S. government-sponsored enterprises Tax-exempt 4 $ 1,182 $ 7 12 $ 7,453 $ 828 16 $ 8,635 $ 835 Residential mortgage-backed securities: U.S. government agencies 4 11,853 2,298 4 11,853 2,298 U.S. government-sponsored enterprises 8 46,841 7,694 8 46,841 7,694 Total 4 $ 1,182 $ 7 24 $ 66,147 $ 10,820 28 $ 67,329 $ 10,827 December 31, 2023 Less than Twelve Months Twelve Months or Longer Total Total # in a loss Unrealized Total # in a loss Unrealized Total # in a loss Unrealized (Dollars in thousands) Position Fair Value Losses Position Fair Value Losses Position Fair Value Losses Securities Available for Sale U.S. Treasury securities 43 $ 184,057 $ 13,863 43 $ 184,057 $ 13,863 U.S. government-sponsored enterprises 2 2,152 387 2 2,152 387 State and municipals: Taxable 1 $ 995 $ 6 65 56,105 10,725 66 57,100 10,731 Tax-exempt 2 575 5 93 66,393 8,613 95 66,968 8,618 Residential mortgage-backed securities: U.S. government agencies 3 724 34 3 724 34 U.S. government-sponsored enterprises 32 72,671 17,264 32 72,671 17,264 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4 11,369 360 4 11,369 360 Corporate debt securities 6 3,730 270 6 3,730 270 Total 3 $ 1,570 $ 11 248 $ 397,201 $ 51,516 251 $ 398,771 $ 51,527 (Dollars in thousands) Securities Held to Maturity State and municipals: Tax-exempt 2 $ 1,438 $ 36 10 $ 6,209 $ 624 12 $ 7,647 $ 660 Residential mortgage-backed securities: 0 0 0 0 0 0 U.S. government agencies 4 12,747 2,653 4 12,747 2,653 U.S. government-sponsored enterprises 8 48,409 9,841 8 48,409 9,841 Total 2 $ 1,438 $ 36 22 $ 67,365 $ 13,118 24 $ 68,803 $ 13,154
Summary of unrealized and realized gains and losses	For the three months ended For the nine months ended (Dollars in thousands) September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 Net gains (losses) recognized on equity securities $ 175 $ 155 $ (17) Less: net gains realized on equity securities sold 54 54 Unrealized gains (losses) on equity securities $ 121 $ 101 $ (17)

Goodwill and Other Intangibles

Goodwill and Other Intangibles (Tables)	9 Months Ended
Goodwill and Other Intangibles (Tables)	Sep. 30, 2024
Goodwill and Other Intangibles
Schedule of goodwill and other acquired intangible assets	September 30, 2024 Gross Accumulated Net Carrying Impairment Accumulated Carrying (Dollars in thousands) Amount Additions Charges Amortization Amount Goodwill $ 63,370 $ 13,588 $ $ $ 76,958 Total goodwill $ 63,370 $ 13,588 $ $ $ 76,958 Core deposit intangible $ $ 36,629 $ $ 1,665 $ 34,964 Wealth management customer list intangible 988 45 943 Total intangible assets, net $ $ 37,617 $ $ 1,710 $ 35,907 December 31, 2023 Gross Accumulated Net Carrying Impairment Accumulated Carrying (Dollars in thousands) Amount Additions Charges Amortization Amount Goodwill $ 63,370 $ $ $ $ 63,370 Total goodwill $ 63,370 $ $ $ $ 63,370
Summary of estimated amortization expense on intangible assets	(Dollars in thousands) CDI Wealth management customer list intangible Total 2024 $ 1,665 $ 45 $ 1,710 2025 6,327 171 6,498 2026 5,661 153 5,814 2027 4,995 135 5,130 2028 4,329 117 4,446 Thereafter 11,987 322 12,309 Total amortizing intangible $ 34,964 $ 943 $ 35,907

Loans, net and allowance for _2

Loans, net and allowance for credit losses (Tables)	9 Months Ended
Loans, net and allowance for credit losses (Tables)	Sep. 30, 2024
Loans, net and allowance for credit losses
Schedule of major classifications of loans outstanding	(Dollars in thousands) September 30, 2024 December 31, 2023 Commercial and Industrial $ 699,912 $ 368,411 Municipal 190,167 175,304 Total 890,079 543,715 Real estate Commercial 2,309,588 1,863,118 Residential 550,590 360,803 Total 2,860,178 2,223,921 Consumer Indirect Auto 130,380 75,389 Consumer Other 15,580 6,872 Total 145,960 82,261 Equipment Financing 173,466 Total $ 4,069,683 $ 2,849,897
Schedule of changes in allowance for loan losses account by major classification of loans	September 30, 2024 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Beginning Balance July 1, 2024 $ 2,171 $ 711 $ 15,156 $ 4,230 $ 855 $ $ 23,123 Merger-related adjustments - Non PCD Loans* 2,259 502 4,149 1,785 1,470 4,163 14,328 Merger-related adjustments PCD Loans 337 71 371 468 320 274 1,841 Charge-offs (5) (26) (444) (58) (533) Recoveries 10 70 4 310 58 452 (Credits) provisions (162) (321) 2,172 (1,241) (528) 210 130 Ending balance $ 4,610 $ 963 $ 21,892 $ 5,246 $ 1,983 $ 4,647 $ 39,341 * See Note 2 - Business Combination and the initial provision for non-PCD loans. September 30, 2023 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for loan losses: Beginning Balance July 1, 2023 $ 2,751 $ 827 $ 14,961 $ 3,767 $ 912 $ $ 23,218 Charge-offs (65) (65) Recoveries 4 3 16 23 (Credits) provisions (504) 40 134 128 36 (166) Ending balance $ 2,251 $ 867 $ 15,095 $ 3,898 $ 899 $ $ 23,010 September 30, 2024 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Beginning Balance January 1, 2024 $ 2,272 $ 788 $ 14,153 $ 3,782 $ 900 $ 21,895 Merger-related adjustments - Non PCD Loans* 2,259 502 4,149 1,785 1,470 4,163 14,328 Merger-related adjustments PCD Loans 337 71 371 468 320 274 1,841 Charge-offs (51) (27) (640) (58) (776) Recoveries 90 70 8 393 58 619 (Credits) provisions (297) (398) 3,176 (797) (460) 210 1,434 Ending balance $ 4,610 $ 963 $ 21,892 $ 5,246 $ 1,983 $ 4,647 $ 39,341 * See Note 2 - Business Combination and the initial provision for non-PCD loans. September 30, 2023 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Beginning Balance January 1, 2023 $ 4,365 $ 1,247 $ 17,915 $ 3,072 $ 873 $ $ 27,472 Impact of adopting ASC 326 (1,683) 747 (3,344) 967 30 (3,283) Beginning Balance January 1, 2023 2,682 1,994 14,571 4,039 903 24,189 Charge-offs (4) (213) (217) Recoveries 9 1 22 109 141 (Credits) provisions (436) (1,127) 523 (163) 100 (1,103) Ending balance $ 2,251 $ 867 $ 15,095 $ 3,898 $ 899 $ $ 23,010
Schedule of information concerning nonaccrual loans by major loan classification	September 30, 2024 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for credit losses: Ending balance $ 4,610 $ 963 $ 21,892 $ 5,246 $ 1,983 $ 4,647 $ 39,341 Ending balance: individually evaluated 8 400 408 Ending balance: collectively evaluated 4,602 963 21,492 5,246 1,983 4,647 38,933 Loans receivable: Ending balance $ 699,912 $ 190,167 $ 2,309,588 $ 550,590 $ 145,960 $ 173,466 $ 4,069,683 Individually evaluated - collateral dependent - real estate 4,180 11,145 4,883 851 21,059 Individually evaluated - collateral dependent - non-real estate 7 7 Collectively evaluated 695,725 190,167 2,298,443 545,707 145,960 172,615 4,048,617 December 31, 2023 Real estate Equipment (Dollars in thousands) Commercial Municipal Commercial Residential Consumer Financing Total Allowance for loan losses: Ending balance $ 2,272 $ 788 $ 14,153 $ 3,782 $ 900 $ $ 21,895 Ending balance: individually evaluated for impairment 10 21 31 Ending balance: collectively evaluated for impairment 2,262 788 14,132 3,782 900 21,864 Loans receivable: Ending balance $ 368,411 $ 175,304 $ 1,863,118 $ 360,803 $ 82,261 $ $ 2,849,897 Individually evaluated - collateral dependent - real estate 7 2,974 1,749 4,730 Individually evaluated - collateral dependent - non-real estate 10 10 Collectively evaluated 368,394 175,304 1,860,144 359,054 82,261 2,845,157
Schedule of nonaccrual loans	September 30, 2024 Total Nonaccrual with Nonaccrual with Nonaccrual an Allowance for no Allowance for (Dollars in thousands) Loans Credit Losses Credit Losses Commercial $ 4,180 $ 351 $ 3,829 Municipal Real estate: Commercial 11,146 2,620 8,526 Residential 4,321 4,321 Consumer 451 451 Equipment Financing 851 851 Total $ 20,949 $ 2,971 $ 17,978 December 31, 2023 Total Nonaccrual with Nonaccrual with Nonaccrual an Allowance for no Allowance for (Dollars in thousands) Loans Credit Losses Credit Losses Commercial $ 10 $ 10 $ Municipal Real estate: Commercial 2,974 1,170 1,804 Residential 760 760 Consumer 218 218 Total $ 3,962 $ 1,180 $ 2,782
Schedule of major classification of loans portfolio summarized by credit quality	As of September 30, 2024 (Dollars in thousands) 2024 2023 2022 2021 2020 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial Pass $ 54,824 $ 85,532 $ 80,128 $ 90,107 $ 40,718 $ 107,295 $ 219,160 $ 7 $ 677,771 Special Mention 1,352 1,136 701 458 2,449 1,464 1,806 9,366 Substandard - 1,010 2,352 442 1,178 687 7,106 12,775 Total Commercial 56,176 87,678 83,181 91,007 44,345 109,446 228,072 7 699,912 Municipal Pass 5,249 6,180 51,520 100,817 10,347 15,999 55 190,167 Special Mention Substandard Total Municipal 5,249 6,180 51,520 100,817 10,347 15,999 55 190,167 Commercial real estate Pass 136,530 188,333 660,675 536,817 163,176 563,148 6,553 137 2,255,369 Special Mention 2,342 950 3,708 1,351 25,304 99 33,754 Substandard 501 5,686 6,054 155 8,069 20,465 Total Commercial real estate 136,530 191,176 667,311 546,579 164,682 596,521 6,652 137 2,309,588 Residential real estate Pass 23,736 34,797 78,746 125,726 52,640 111,597 121,174 308 548,724 Special Mention Substandard 4 60 186 301 1,311 4 1,866 Total Residential real estate 23,736 34,801 78,806 125,912 52,941 112,908 121,178 308 550,590 Consumer Pass 25,689 41,912 44,430 21,337 5,009 6,303 1,034 145,714 Special Mention Substandard 102 20 66 51 5 2 246 Total Consumer 25,689 42,014 44,450 21,403 5,060 6,308 1,036 145,960 Equipment Financing Pass 50,596 72,636 46,005 2,443 171,680 Special Mention 710 417 1,127 Substandard 659 659 Total Equipment Financing 50,596 74,005 46,422 2,443 173,466 Total Loans $ 297,976 $ 435,854 $ 971,690 $ 888,161 $ 277,375 $ 841,182 $ 356,993 $ 452 $ 4,069,683 Gross charge-offs Commercial $ $ 41 $ $ 2 $ $ 8 $ $ $ 51 Municipal Commercial real estate 27 27 Residential real estate Consumer 90 143 186 125 22 74 640 Equipment Financing 58 58 Total Gross charge-offs $ 90 $ 242 $ 186 $ 127 $ 22 $ 109 $ $ $ 776 As of December 31, 2023 (Dollars in thousands) 2023 2022 2021 2020 2019 Prior Revolving Loans Amortized Cost Basis Revolving Loans Converted to Term Total Commercial Pass $ 9,856 $ 38,172 $ 28,127 $ 29,966 $ 44,551 $ 82,190 $ 131,536 $ 650 $ 365,048 Special Mention 876 182 49 832 1,939 Substandard 15 19 42 33 534 781 1,424 Total Commercial 9,871 39,067 28,351 29,966 44,584 82,773 133,149 650 368,411 Municipal Pass 1,888 48,095 94,791 10,804 16 19,652 58 175,304 Special Mention Substandard Total Municipal 1,888 48,095 94,791 10,804 16 19,652 58 175,304 Commercial real estate Pass 156,277 553,754 491,506 143,068 153,426 351,142 117 1,849,290 Special Mention 1,299 360 2,761 4,420 Substandard 169 1,338 1,520 160 697 5,524 9,408 Total Commercial real estate 156,446 556,391 493,026 143,228 154,483 359,427 117 1,863,118 Residential real estate Pass 17,385 52,093 65,280 27,118 16,652 84,652 83,507 13,490 360,177 Special Mention Substandard 4 329 288 5 626 Total Residential real estate 17,389 52,093 65,280 27,447 16,652 84,940 83,512 13,490 360,803 Consumer Pass 27,053 30,307 12,460 5,441 3,107 2,981 694 82,043 Special Mention Substandard 58 79 31 30 20 218 Total Consumer 27,053 30,365 12,539 5,472 3,137 3,001 694 82,261 Total Loans $ 212,647 $ 726,011 $ 693,987 $ 216,917 $ 218,872 $ 549,793 $ 217,413 $ 14,257 $ 2,849,897 Gross charge-offs Commercial $ $ $ $ 21 $ $ 33 $ 4 $ $ 58 Municipal Commercial real estate 2,598 2,598 Residential real estate Consumer 95 101 69 49 55 369 Total Gross charge-offs $ $ 95 $ 101 $ 90 $ 49 $ 2,686 $ 4 $ $ 3,025
Schedule of major classifications of loans by past due status	September 30, 2024 Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and (Dollars in thousands) Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 762 $ 173 $ 841 $ 1,776 $ 698,136 $ 699,912 $ Municipal 190,167 190,167 Real estate: Commercial 2,226 206 8,799 11,231 2,298,357 2,309,588 Residential 1,153 1,136 4,056 6,345 544,245 550,590 558 Consumer 1,759 687 166 2,612 143,348 145,960 11 Equipment Financing 821 544 1,365 172,101 173,466 Total $ 6,721 $ 2,746 $ 13,862 $ 23,329 $ 4,046,354 $ 4,069,683 $ 569 December 31, 2023 Greater Loans > 90 30-59 Days 60-89 Days than 90 Total Past Days and (Dollars in thousands) Past Due Past Due Days Due Current Total Loans Accruing Commercial $ 53 $ 155 $ 10 $ 218 $ 368,193 $ 368,411 $ Municipal 175,304 175,304 Real estate: Commercial 152 5 279 436 1,862,682 1,863,118 Residential 1,456 50 1,610 3,116 357,687 360,803 986 Consumer 1,069 285 85 1,439 80,822 82,261 Total $ 2,730 $ 495 $ 1,984 $ 5,209 $ 2,844,688 $ 2,849,897 $ 986
Schedule of allowance for credit losses on off balance sheet commitments	For the three months ended (Dollars in thousands) September 30, 2024 September 30, 2023 Beginning balance $ 334 $ 93 Merger related adjustments 1,179 Credit to credit losses recorded in noninterest expense (784) (12) Total allowance for credit losses on off balance sheet commitments $ 729 $ 81 For the nine months ended (Dollars in thousands) September 30, 2024 September 30, 2023 Beginning balance $ 43 $ 179 Impact of adopting Topic 326 270 Merger related adjustments 1,179 Credit to credit losses recorded in noninterest expense (493) (368) Total allowance for credit losses on off balance sheet commitments $ 729 $ 81
Summary of contractual amounts of off-balance sheet commitments	The contractual amounts of off-balance sheet commitments at September 30, 2024 and 2023 are as follows: (Dollars in thousands) 2024 2023 Commitments to extend credit $ 160,389 $ 203,183 Unused portions of lines of credit 569,195 370,792 Standby letters of credit 61,943 62,181 $ 791,527 $ 636,156

Other assets (Tables)

Other assets (Tables)	9 Months Ended
Other assets (Tables)	Sep. 30, 2024
Other assets
Schedule of components of other assets	(Dollars in thousands) September 30, 2024 December 31, 2023 Other real estate owned $ 1,152 $ Mortgage servicing rights 832 870 Prepaid shares tax 1,489 949 Prepaid pension 4,144 3,764 Prepaid expenses 7,704 4,840 Restricted equity securities (FHLB and other) 9,829 5,180 Investment in low income housing partnership 15,779 5,015 Interest rate swaps (1) 17,338 19,278 Other assets 11,789 2,353 Total $ 70,056 $ 42,249 (1) Interest rate swaps balance represents the fair value of the commercial loan back-to-back swaps.

Fair value estimates (Tables)

Fair value estimates (Tables)	9 Months Ended
Fair value estimates (Tables)	Sep. 30, 2024
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 (Dollars in thousands) Identical Assets Inputs Inputs September 30, 2024 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 180,815 $ 180,815 $ $ U.S. government-sponsored enterprises State and municipals: Taxable 77,391 77,391 Tax-exempt 68,170 68,170 Residential mortgage-backed securities: U.S. government agencies 1,481 1,481 U.S. government-sponsored enterprises 130,070 130,070 Commercial mortgage-backed securities: U.S. government-sponsored enterprises 4,548 4,548 Private collateralized mortgage obligations 43,247 43,247 Asset backed securities 23,845 23,845 Corporate debt securities 32,212 27,867 4,345 Negotiable certificates of deposit 707 707 Common equity securities 3,921 3,921 Total investment securities $ 566,407 $ 184,736 $ 377,326 $ 4,345 Interest rate swap-other assets $ 17,338 $ 17,338 Interest rate swap-other liabilities $ (15,864) $ (15,864) Fair Value Measurement Using Quoted Prices in Significant Significant Active Markets for Other Observable Unobservable (Dollars in thousands) Identical Assets Inputs Inputs December 31, 2023 Amount (Level 1) (Level 2) (Level 3) U.S. Treasury securities $ 184,057 $ 184,057 $ $ U.S. government-sponsored enterprises 2,152 2,152 State and municipals: Taxable 57,100 57,100 Tax-exempt 67,124 67,124 Mortgage-backed securities: U.S. government agencies 724 724 U.S. government-sponsored enterprises 84,040 84,040 Corporate debt securities 3,730 3,730 Common equity securities 98 98 Total investment securities $ 399,025 $ 184,155 $ 214,870 $ Interest rate swap-other assets $ 19,278 $ 19,278 Interest rate swap-other liabilities $ (18,808) $ (18,808)
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 (Dollars in thousands) Identical Assets Inputs Inputs September 30, 2024 Amount (Level 1) (Level 2) (Level 3) Loans individually evaluated for credit loss $ 21,066 $ $ $ 21,066 Other real estate owned $ 1,152 $ 1,152 Fair Value Measurement Using Quoted Prices in Significant Other Significant Active Markets for Observable Unobservable (Dollars in thousands) Identical Assets Inputs Inputs December 31, 2023 Amount (Level 1) (Level 2) (Level 3) Loans individually evaluated for credit loss $ 4,740 $ $ $ 4,740
Schedule of additional quantitative information about assets measured at fair value on a nonrecurring basis	Quantitative Information about Level 3 Fair Value Measurements (Dollars in thousands, except percents) Fair Value Range September 30, 2024 Estimate Valuation Techniques Unobservable Input (Weighted Average) Loans individually evaluated for credit loss $ 21,066 Appraisal of collateral Appraisal adjustments 7.1% to 94.0% (40.0)% Liquidation expenses 3.0% to 6.0% (5.8)% Other real estate owned $ 1,152 Appraisal of collateral Appraisal adjustments 1.0% to 1.0% (1.0)% Liquidation expenses 3.0% to 6.0% (4.5)% Quantitative Information about Level 3 Fair Value Measurements (Dollars in thousands, except percents) Fair Value Range December 31, 2023 Estimate Valuation Techniques Unobservable Input (Weighted Average) Loans individually evaluated for credit loss $ 4,740 Appraisal of collateral Appraisal adjustments 22.8% to 82.4% (63.6)% Liquidation expenses 3.0% to 6.0% (5.2)%
Schedule of carrying and fair values of financial instruments	Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable (Dollars in thousands) Carrying Fair Assets Inputs Inputs September 30, 2024 Value Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and due from banks $ 285,469 $ 285,469 $ 285,469 $ $ Investment securities: Available for sale 562,486 562,486 180,815 377,326 4,345 Common equity securities 3,921 3,921 3,921 Held to maturity 79,861 69,034 69,034 Loans held for sale 803 803 803 Net loans 4,030,342 3,949,667 3,949,667 Accrued interest receivable 17,979 17,979 17,979 Mortgage servicing rights 832 1,669 1,669 Restricted equity securities (FHLB and other) 9,829 9,829 9,829 Other assets - interest rate swaps 17,338 17,338 17,338 Total $ 5,008,860 $ 4,918,195 Financial liabilities: Deposits $ 4,637,864 $ 4,639,273 $ $ 4,639,273 $ Short-term borrowings 37,346 37,346 37,346 Long-term debt 111,489 112,680 112,680 Subordinated debt 33,000 32,232 32,232 Junior subordinated debt 8,015 8,471 8,471 Accrued interest payable 6,829 6,829 6,829 Other liabilities - interest rate swaps 15,864 15,864 15,864 Total $ 4,850,407 $ 4,852,695 Fair Value Hierarchy Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable (Dollars in thousands) Carrying Fair Assets Inputs Inputs December 31, 2023 Value Value (Level 1) (Level 2) (Level 3) Financial assets: Cash and due from banks $ 187,365 $ 187,365 $ 187,365 $ $ Investment securities: Available for sale 398,927 398,927 184,057 214,870 Common equity securities 98 98 98 Held to maturity 84,851 71,698 71,698 Loans held for sale 250 250 Net loans 2,828,002 2,593,151 2,593,151 Accrued interest receivable 12,734 12,734 12,734 Mortgage servicing rights 870 1,745 1,745 Restricted equity securities (FHLB and other) 5,180 5,180 5,180 Other assets - interest rate swaps 19,278 19,278 19,278 Total $ 3,537,555 $ 3,290,426 Financial liabilities: Deposits $ 3,279,037 $ 3,274,774 $ $ 3,274,774 $ Short-term borrowings 17,590 17,590 17,590 Long-term debt 25,000 24,924 24,924 Subordinated debt 33,000 45,504 45,504 Accrued interest payable 5,765 5,765 5,765 Other liabilities - interest rate swaps 18,808 18,808 18,808 Total $ 3,379,200 $ 3,387,365

Employee benefit plans (Tables)

Employee benefit plans (Tables)	9 Months Ended
Employee benefit plans (Tables)	Sep. 30, 2024
Employee benefit plans
Schedule of components of net periodic benefit cost	(Dollars in thousands) Pension Benefits Three Months Ended September 30, 2024 2023 Net periodic pension benefit: Interest cost $ 158 $ 164 Expected return on plan assets (320) (293) Amortization of unrecognized net loss 49 50 Net periodic pension benefit $ (113) $ (79) (Dollars in thousands) Pension Benefits Nine Months Ended September 30, 2024 2023 Net periodic pension benefit: Interest cost $ 475 $ 492 Expected return on plan assets (961) (878) Amortization of unrecognized net loss 146 149 Net periodic pension benefit: (340) (237)

Derivatives and hedging activ_2

Derivatives and hedging activities (Tables)	9 Months Ended
Derivatives and hedging activities (Tables)	Sep. 30, 2024
Derivatives and hedging activities
Schedule of amounts were recorded on the consolidated balance sheet related to cumulative basis adjustment for fair value hedges	Line Item in the Consolidated Statement of Financial Position in Which the Hedged Item is Included Amortized Amount of the Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities) (Dollars in thousands) September 30, 2024 December 31, 2023 September 30, 2024 December 31, 2023 AFS Securities (1) $ 162,038 $ 143,573 $ 1,056 $ 871 Fixed Rate Loans 50,484 50,462 484 462 Total $ 212,522 $ 194,035 $ 1,540 $ 1,333 (1) These amounts include the amortized cost basis of closed portfolios of fixed rate assets used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At September 30, 2024, the amortized cost basis of the closed portfolios used in these hedging relationships was $162.0 million. The amounts of the designated hedged items were $100.0 million. (2) Fixed Rate Loan Assets. These amounts include the carrying value of fixed rate loan assets used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At September 30, 2024, the principal value of the hedged item was $50.0 million.
Schedule of fair value of derivative financial instruments and balance sheet classification	Fair Values of Derivative Instruments Derivative Assets Derivative Liabilities As of September 30, 2024 As of December 31, 2023 (1) As of September 30, 2024 As of December 31, 2023 (Dollars in thousands) Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Notional Amount Balance Sheet Location Fair Value Balance Sheet Location Fair Value Derivatives designated as hedging instruments Interest Rate Products $ Other Assets $ Other Assets $ $ 150,000 Other Liabilities $ 1,510 Other Liabilities $ 1,270 Total derivatives designated as hedging instruments $ $ $ 1,510 $ 1,270 Derivatives not designated as hedging instruments Interest Rate Products $ 289,313 Other Assets $ 17,845 Other Assets $ 19,833 $ 289,313 Other Liabilities $ 17,546 Other Liabilities $ 19,364 Other Contracts 24,795 Other Assets 2 Other Assets 3 7,250 Other Liabilities Other Liabilities Total derivatives not designated as hedging instruments $ 17,847 $ 19,836 $ 17,546 $ 19,364 (1) The notional asset amount of interest rate swaps at December 31, 2023 was $230.3 million and $8.4 million for risk participation agreements. Amounts include accrued interest.
Schedule of effect of fair value and cash flow hedge accounting on accumulated other comprehensive (loss) income	(Dollars in thousands) Three months ended September 30, 2024 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of Gain or (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ $ $ Interest Income $ $ $ Total $ $ $ $ $ $ (Dollars in thousands) Three months ended September 30, 2023 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ $ $ Interest Income $ (16) $ $ (16) Total $ $ $ $ (16) $ $ (16) (Dollars in thousands) Nine months ended September 30, 2024 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ $ $ Interest Income $ $ $ Total $ $ $ $ $ $ (Dollars in thousands) Nine months ended September 30, 2023 Amount of (Loss) Recognized in OCI on Derivative Amount of (Loss) Recognized in OCI Included Component Amount of (Loss) Recognized in OCI Excluded Component Location of Gain or (Loss) Recognized from Accumulated Other Comprehensive Income into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Amount of (Loss) Reclassified from Accumulated OCI into Income Included Component Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component Derivatives in Cash Flow Hedging Relationships Interest Rate Products $ (1) $ $ (1) Interest Income $ (48) $ $ (48) Total $ (1) $ $ (1) $ (48) $ $ (48) * Amounts disclosed are gross and not net of taxes.
Schedule of effect of derivative financial instruments on Consolidated income and comprehensive income	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, 2024 2023 (Dollars in thousands) Interest Income Interest Income Total amounts of income and expense line items presented in the statements of income and comprehensive income (loss) in which the effects of fair value or cash flow hedges are recorded. $ 586 $ 188 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships Interest contracts Hedged items 2,010 (731) Derivatives designated as hedging instruments (1,424) 935 Derivatives designated as hedging instruments Gain or (loss) on cash flow hedging relationships Interest contracts Amount of (loss) gain reclassified from AOCI into income (16) Amount of gain reclassified from AOCI into income - Included Component Amount of (loss) reclassified from AOCI into income - Excluded Component $ $ (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, 2024 2023 (Dollars in thousands) Interest Income Interest Income Total amounts of income and expense line items presented in the statements of income and comprehensive income (loss) in which the effects of fair value or cash flow hedges are recorded. $ 21 $ 318 The effects of fair value and cash flow hedging: Gain or (loss) on fair value hedging relationships Interest contracts Hedged items 206 (779) Derivatives designated as hedging instruments (185) 1,145 Gain or (loss) on cash flow hedging relationships Interest contracts Amount of (loss) gain reclassified from AOCI into income (48) Amount of gain reclassified from AOCI into income - Included Component Amount of (loss) reclassified from AOCI into income - Excluded Component $ $ (48)
Schedule of gain (loss) on derivative instruments not designated as hedging instruments	Amount of Gain or (Loss) Amount of Gain or (Loss) Amount of Gain Amount of Gain or (Loss) Recognized in Recognized in Recognized in Recognized in Location of Gain or (Loss) Income on Derivative Income on Derivative Income on Derivative Income on Derivative Recognized in Income Three Months Ended Nine Months Ended Three Months Ended Nine Months Ended (Dollars in thousands) on Derivative September 30, 2024 September 30, 2024 September 30, 2023 September 30, 2023 Derivatives Not Designated as Hedging Instruments: Interest Rate Products Other income / (expense) $ (120) $ (170) $ 194 $ 56 Other Contracts Other income / (expense) 1 31 Total $ (120) $ (170) $ 195 $ 87 Fee Income Fee income $ 67 $ 195 $ $ 457
Schedule of offsetting derivatives	Offsetting of Derivative Assets as of September 30, 2024 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 (Dollars in thousands) Assets Balance Sheet Balance Sheet Instruments Posted Amount Derivatives $ 17,845 $ $ 17,845 $ $ 12,410 $ 5,435 Offsetting of Derivative Liabilities as of September 30, 2024 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 (Dollars in thousands) Liabilities Balance Sheet Balance Sheet Instruments Posted* Amount Derivatives $ 19,057 $ $ 19,057 $ 19,057 $ $ *Cash collateral of $3.320MM was paid in September 2024, but not presented as an offset above. Offsetting of Derivative Assets as of December 31, 2023 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 (Dollars in thousands) Assets Balance Sheet Balance Sheet Instruments Posted Amount Derivatives $ 19,833 $ $ 19,833 $ $ 17,590 $ 2,243 Offsetting of Derivative Liabilities as of December 31, 2023 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 (Dollars in thousands) Liabilities Balance Sheet Balance Sheet Instruments Posted Amount Derivatives $ 20,633 $ $ 20,633 $ 20,633 $ $

Deposits (Tables)

Deposits (Tables)	9 Months Ended
Deposits (Tables)	Sep. 30, 2024
Deposits
Summary of major components of interest-bearing and noninterest-bearing deposits	(Dollars in thousands) September 30, 2024 December 31, 2023 Interest-bearing deposits: Money market accounts $ 1,018,575 $ 782,243 NOW accounts 1,439,382 796,426 Savings accounts 509,412 429,011 Time deposits less than $250 824,791 505,409 Time deposits $250 or more 128,139 121,265 Total interest-bearing deposits 3,920,299 2,634,354 Noninterest-bearing deposits 717,565 644,683 Total deposits $ 4,637,864 $ 3,279,037
Schedule of aggregate amounts of maturities for all time deposits	(Dollars in thousands) 2025 $ 645,140 2026 121,549 2027 70,920 2028 104,268 2029 6,240 Thereafter 4,813 $ 952,930

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
Borrowings (Tables)	Sep. 30, 2024
Borrowings
Summary of short-term borrowings	At and for the nine months ended September 30, 2024 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End (Dollars in thousands, except percents) Balance Balance Balance the Year of the Period FHLB advances - Overnight $ $ 8,993 $ 83,900 5.53 % % Federal Reserve Bank - BTFP 24,936 8,270 24,936 4.83 4.76 Other borrowings 12,410 19,086 25,050 5.40 4.83 Total short-term borrowings $ 37,346 $ 36,349 $ 133,886 5.31 % 4.78 % At and for the year ended December 31, 2023 Weighted Weighted Maximum Average Average Ending Average Month-End Rate for Rate at End (Dollars in thousands, except percents) Balance Balance Balance the Year of the Year Other borrowings $ 17,590 $ 19,160 $ 28,470 5.54 % 5.35 % FHLB advances 19,171 158,000 4.48 Total short-term borrowings $ 17,590 $ 38,331 $ 186,470 5.01 % 5.35 %
Schedule of long-term debt consisting of advances	Interest Rate (Dollars in thousands, except percents) Fixed September 30, 2024 December 31, 2023 December 2024 4.60 12,650 March 2025 4.37 10,000 10,000 December 2025 4.40 9,567 December 2025 4.36 20,000 March 2026 4.78 4,292 March 2026 4.20 15,000 15,000 May 2026 4.08 5,000 June 2027 4.16 5,224 August 2027 4.40 6,461 October 2027 5.18 9,107 March 2028 4.45 % 14,188 $ 111,489 $ 25,000
Schedule of maturities of long-term debt	(Dollars in thousands) 2024 $ 12,650 2025 39,567 2026 24,292 2027 20,792 2028 14,188 Thereafter $ 111,489

Related party transactions (Tab

Related party transactions (Tables)	9 Months Ended
Related party transactions (Tables)	Sep. 30, 2024
Related party transactions
Schedule of related party transactions	(Dollars in thousands) Three Months Ended September 30, 2024 2023 Balance, beginning of period $ 99,491 $ 2,818 Additions, new loans and advances 32,337 29 Repayments (8,203) (875) Balance, end of period $ 123,625 $ 1,972

Regulatory matters (Tables)

Regulatory matters (Tables)	9 Months Ended
Regulatory matters (Tables)	Sep. 30, 2024
Regulatory matters
Summary information regarding the Bank's risk-based capital and related ratios	Minimum Minimum Required To Required For Be Well Minimum Capital Capitalized Required For Adequacy Under Prompt Capital Purposes with Corrective Adequacy Conservation Action Peoples Bank Purposes Buffer Regulations (Dollars in thousands) Amount Ratio Ratio Ratio Ratio September 30, 2024 Total capital ( to risk-weighted assets) $ 467,588 11.68 % 8.00 % 10.50 % 10.00 % Tier I capital ( to risk-weighted assets) 427,518 10.68 6.00 8.50 8.00 Tier I common equity ( to risk-weighted assets) 427,518 10.68 4.50 7.00 6.50 Tier I capital ( to average assets) 427,518 8.23 4.00 4.00 5.00 Total risk-weighted assets 4,002,166 Total average assets 5,306,258 Minimum Minimum Required To Required For Be Well Minimum Capital Capitalized Required For Adequacy Under Prompt Capital Purposes with Corrective Adequacy Conservation Action Peoples Bank Purposes Buffer Regulations (Dollars in thousands) Amount Ratio Ratio Ratio Ratio December 31, 2023 Total capital ( to risk-weighted assets) $ 375,268 14.12 % 8.00 % 10.50 % 10.00 % Tier I capital ( to risk-weighted assets) 353,330 13.30 6.00 8.50 8.00 Tier I common equity ( to risk-weighted assets) 353,330 13.30 4.50 7.00 6.50 Tier I capital ( to average assets) 353,330 9.34 4.00 4.00 5.00 Total risk-weighted assets 2,656,901 Total average assets 3,845,219

Summary of significant accoun_3

Summary of significant accounting policies - Nature of operations and Basis of presentation (Details)	1 Months Ended	3 Months Ended						9 Months Ended
	Oct. 25, 2024 $ / shares	Sep. 30, 2024 $ / shares	Jun. 30, 2024 $ / shares	Mar. 31, 2024 $ / shares	Sep. 30, 2023 $ / shares	Jun. 30, 2023 $ / shares	Mar. 31, 2023 $ / shares	Sep. 30, 2024 Office $ / shares	Sep. 30, 2023 $ / shares
Summary of significant accounting policies
Number of full-service community banking offices \| Office								39
Dividends declared		$ 0.62	$ 0.41	$ 0.41	$ 0.41	$ 0.41	$ 0.41	$ 1.44	$ 1.23
Dividend declared		50.60%
Subsequent events \| Fourth quarter dividend
Summary of significant accounting policies
Dividend declared date	Oct. 25, 2024
Dividends declared	$ 0.6175
Dividend payable date	Dec. 13, 2024
Dividend record date	Nov. 29, 2024

Business Combinations (Details)

Business Combinations (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Jul. 01, 2024	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Business Combinations
Goodwill		$ 76,958		$ 76,958		$ 63,370
Amortization of intangible assets		1,665	$ 29	1,665	$ 86
Core Deposit
Business Combinations
Intangibles		$ 36,600		$ 36,600
Percentage of core deposits		5.10%		5.10%
Amortization period		10 years		10 years
Amortization of intangible assets				$ 1,700
FNCB
Business Combinations
Number of shares issued on conversion for each share as per merger (in shares)	0.1460
Total transaction consideration	$ 133,700
Number of shares issued as consideration (in shares)	2,935,456
Closing share price (in $ per share)	$ 45.54
Goodwill	$ 13,600
Deferred tax asset	$ 19,500

Business Combinations - Purchas

Business Combinations - Purchase Price Consideration (Details) - FNCB - USD ($) $ / shares in Units, $ in Thousands		6 Months Ended
	Jul. 01, 2024	Jun. 30, 2024
Business Combinations
FNCB Bancorp, Inc. common shares settled for stock	20,110,771
Exchange Ratio	0.146
Peoples Security Bank & Trust Company shares issued	2,935,456
Price per share of Peoples Financial Services Corp. common stock on June 28, 2024	$ 45.54
Purchase price consideration for common stock	$ 133,681
Cash in lieu of fractional shares	32
Total purchase price consideration	$ 133,713	$ 133,713

Business Combinations - Recogni

Business Combinations - Recognized amounts of identifiable assets acquired and liabilities assumed (Details) - USD ($) $ in Thousands		6 Months Ended
	Jul. 01, 2024	Jun. 30, 2024	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Recognized amounts of identifiable assets acquired and liabilities assumed, book value
Federal funds sold			$ 178,093	$ 144,700
Investment securities			646,268	483,876
Loans held for investment			4,069,683	2,849,897
Allowance for credit losses		$ (23,123)	(39,341)	(21,895)	$ (23,010)	$ (23,218)	$ (27,472)
Loans held for investment, net of allowance			4,030,342	2,828,002
Premises and equipment, net			75,877	61,276
Accrued interest receivable			17,979	12,734
Intangibles			35,907
Deferred tax asset			33,078	13,770
Other assets			70,056	42,249
Total assets			5,360,138	3,742,289
Deposits			4,637,864	3,279,037
Accrued interest payable			6,829	5,765
Other liabilities			50,544	41,475
Total liabilities			4,885,087	3,401,867
Recognized amounts of identifiable assets acquired and liabilities assumed, Including fair value
Total identifiable assets acquired			1,729,872
Total liabilities assumed			1,676,207
Goodwill			76,958	$ 63,370
Core deposit intangibles
Recognized amounts of identifiable assets acquired and liabilities assumed, book value
Intangibles			34,964
Recognized amounts of identifiable assets acquired and liabilities assumed, Including fair value
Intangibles			36,600
Wealth management customer list intangible
Recognized amounts of identifiable assets acquired and liabilities assumed, book value
Intangibles			$ 943
FNCB
Recognized amounts of identifiable assets acquired and liabilities assumed, book value
Cash and cash equivalents		28,843
Investment securities		426,107
Loans held for investment		1,267,330
Allowance for credit losses		(13,921)
Loans held for investment, net of allowance		1,253,409
Restricted stock		9,934
Premises and equipment, net		13,960
Accrued interest receivable		7,448
Deferred tax asset		14,415
Operating lease right of use asset		2,821
Other assets		62,728
Total assets		1,819,665
Deposits		1,429,406
Borrowings		227,135
Trust preferred		10,310
Accrued interest payable		1,966
Operating lease liability		3,082
Other liabilities		9,704
Total liabilities		1,681,603
Total identifiable net assets		138,062
FNCB
Recognized amounts of identifiable assets acquired and liabilities assumed, book value
Total purchase price consideration	$ 133,713	133,713
Recognized amounts of identifiable assets acquired and liabilities assumed, fair value adjustments
Investment securities		(4,180)
Loans held for investment		(71,579)
Allowance for credit losses		12,353
Loans held for investment, net of allowance		(59,226)
Premises and equipment, net		593
Deferred tax asset		5,083
Operating lease right of use asset		263
Other assets		(3,483)
Total identifiable assets acquired		(23,333)
Deposits		(2,405)
Borrowings		(851)
Trust preferred		(2,318)
Other liabilities		178
Total liabilities assumed		(5,396)
Total identifiable net assets		(17,937)
Recognized amounts of identifiable assets acquired and liabilities assumed, Including fair value
Cash and cash equivalents		28,843
Investment securities		421,927
Loans held for investment		1,195,751
Allowance for credit losses		(1,568)
Loans held for investment, net of allowance		1,194,183
Restricted stock		9,934
Premises and equipment, net		14,553
Accrued interest receivable		7,448
Deferred tax asset		19,498
Operating lease right of use asset		3,084
Other assets		59,245
Total identifiable assets acquired		1,796,332
Deposits		1,427,001
Borrowings		226,284
Trust preferred		7,992
Accrued interest payable		1,966
Operating lease liability		3,082
Other liabilities		9,882
Total liabilities assumed		1,676,207
Total identifiable net assets		120,125
Goodwill		13,588
FNCB \| Core deposit intangibles
Recognized amounts of identifiable assets acquired and liabilities assumed, fair value adjustments
Intangibles		36,629
Recognized amounts of identifiable assets acquired and liabilities assumed, Including fair value
Intangibles		36,629
FNCB \| Wealth management customer list intangible
Recognized amounts of identifiable assets acquired and liabilities assumed, fair value adjustments
Intangibles		988
Recognized amounts of identifiable assets acquired and liabilities assumed, Including fair value
Intangibles		$ 988

Business Combinations - Loans (

Business Combinations - Loans (Details) $ in Thousands		3 Months Ended		9 Months Ended
Business Combinations - Loans (Details) $ in Thousands	Jul. 01, 2024 USD ($)	Sep. 30, 2024 USD ($) item	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) item	Sep. 30, 2023 USD ($)
Business Acquisition [Line Items]
Balance sheet adjustment		$ 4,100		$ 4,100
Provision for credit loss		130	$ (166)	1,434	$ (1,103)
PCD loans
Business Acquisition [Line Items]
PCD Allowance for Credit Losses at Acquisition		1,841		1,841
Non-PCD loans
Business Acquisition [Line Items]
PCD Allowance for Credit Losses at Acquisition		$ 14,328		$ 14,328
FNCB
Business Acquisition [Line Items]
Number of fair value adjustments \| item		3		3
Loans acquired	$ 1,300,000
FNCB \| PCD loans
Business Acquisition [Line Items]
Unpaid Principal Balance	106,321
Non-credit Discount at Acquisition	(6,524)
PCD Allowance for Credit Losses at Acquisition	1,841
Fair Value of PCD Loans at Acquisition	101,638
FNCB \| PCD accruing
Business Acquisition [Line Items]
Unpaid Principal Balance	95,851
Non-credit Discount at Acquisition	(3,626)
PCD Allowance for Credit Losses at Acquisition	1,841
Fair Value of PCD Loans at Acquisition	94,066
FNCB \| PCD nonaccruing
Business Acquisition [Line Items]
Unpaid Principal Balance	10,470
Non-credit Discount at Acquisition	(2,898)
Fair Value of PCD Loans at Acquisition	7,572
FNCB \| Non-PCD loans
Business Acquisition [Line Items]
Provision for credit loss	14,300
Loans acquired	$ 1,200,000
Percentage of loans acquired as non-PCD loans	91.50%

Business Combinations - Merger-

Business Combinations - Merger-related Expenses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Business Combinations
Severance expenses	$ 187		$ 187
System termination and integration fees	8,375		8,551
Financial advisory fees	582		1,173
Legal and professional fees	87		772
Other merger related expenses	422		527
Total	$ 9,653	$ 869	$ 11,210	$ 990

Other comprehensive income (l_3

Other comprehensive income (loss) - Components of Accumulated Other Comprehensive Loss (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Other comprehensive income (loss)
Net unrealized loss on investment securities available for sale	$ (38,784)	$ (51,527)
Income tax benefit	(8,482)	(11,270)
Net of income taxes	(30,302)	(40,257)
Benefit plan adjustments	(4,370)	(4,370)
Income tax benefit	(956)	(956)
Net of income taxes	(3,414)	(3,414)
Derivative adjustments	(1,056)	(871)
Income tax benefit	(231)	(191)
Net of income taxes	(825)	(680)
Accumulated other comprehensive loss	$ (34,541)	$ (44,351)

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Earnings per share
Net income, Basic	$ (4,337)	$ 6,746	$ 2,411	$ 23,750
Average common shares outstanding - Basic	9,987,627	7,088,745	8,039,734	7,130,506
(Loss) earnings per share - Basic	$ (0.43)	$ 0.95	$ 0.30	$ 3.33
Net income, Diluted	$ (4,337)	$ 6,746	$ 2,411	$ 23,750
Average common shares outstanding - Diluted	10,044,449	7,120,685	8,094,036	7,165,570
(Loss) earnings per share - Diluted	$ (0.43)	$ 0.95	$ 0.30	$ 3.31

Investment securities - Amortiz

Investment securities - Amortized Cost and Fair Value of Investment Securities Aggregated by Investment Category (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investment Securities
Available-for-sale, Amortized Cost	$ 601,270	$ 450,454
Available-for-sale, Gross Unrealized Gains	2,883
Available-for-sale, Gross Unrealized Losses	41,667	51,527
Available-for-sale	562,486	398,927
Held-to-maturity, Amortized Cost	79,861	84,851
Held-to-maturity, Gross Unrealized Gains		1
Held-to-maturity, Gross Unrealized Losses	10,827	13,154
Held-to-maturity, Fair value	69,034	71,698
U.S. Treasury securities
Investment Securities
Available-for-sale, Amortized Cost	189,190	197,920
Available-for-sale, Gross Unrealized Losses	8,375	13,863
Available-for-sale	180,815	184,057
U.S. Government-sponsored enterprises
Investment Securities
Available-for-sale, Amortized Cost		2,539
Available-for-sale, Gross Unrealized Losses		387
Available-for-sale		2,152
State and municipals, Taxable
Investment Securities
Available-for-sale, Amortized Cost	85,468	67,831
Available-for-sale, Gross Unrealized Gains	109
Available-for-sale, Gross Unrealized Losses	8,186	10,731
Available-for-sale	77,391	57,100
State and municipals, Tax-exempt
Investment Securities
Available-for-sale, Amortized Cost	76,570	75,742
Available-for-sale, Gross Unrealized Gains	67
Available-for-sale, Gross Unrealized Losses	8,467	8,618
Available-for-sale	68,170	67,124
Held-to-maturity, Amortized Cost	11,175	11,201
Held-to-maturity, Gross Unrealized Gains		1
Held-to-maturity, Gross Unrealized Losses	835	660
Held-to-maturity, Fair value	10,340	10,542
Residential mortgage-backed securities, U.S. government agencies
Investment Securities
Available-for-sale, Amortized Cost	1,451	758
Available-for-sale, Gross Unrealized Gains	30
Available-for-sale, Gross Unrealized Losses		34
Available-for-sale	1,481	724
Held-to-maturity, Amortized Cost	14,151	15,400
Held-to-maturity, Gross Unrealized Losses	2,298	2,653
Held-to-maturity, Fair value	11,853	12,747
Residential mortgage-backed securities, U.S. government-sponsored enterprises
Investment Securities
Available-for-sale, Amortized Cost	144,244	89,935
Available-for-sale, Gross Unrealized Gains	1,362
Available-for-sale, Gross Unrealized Losses	15,536	17,264
Available-for-sale	130,070	72,671
Held-to-maturity, Amortized Cost	54,535	58,250
Held-to-maturity, Gross Unrealized Losses	7,694	9,841
Held-to-maturity, Fair value	46,841	48,409
Commercial mortgage-backed Securities, U.S. government-sponsored enterprises
Investment Securities
Available-for-sale, Amortized Cost	4,608	11,729
Available-for-sale, Gross Unrealized Losses	60	360
Available-for-sale	4,548	11,369
Private collateralized mortgage obligations
Investment Securities
Available-for-sale, Amortized Cost	42,624
Available-for-sale, Gross Unrealized Gains	635
Available-for-sale, Gross Unrealized Losses	12
Available-for-sale	43,247
Asset backed securities
Investment Securities
Available-for-sale, Amortized Cost	24,115
Available-for-sale, Gross Unrealized Gains	44
Available-for-sale, Gross Unrealized Losses	314
Available-for-sale	23,845
Corporate debt securities
Investment Securities
Available-for-sale, Amortized Cost	32,307	4,000
Available-for-sale, Gross Unrealized Gains	622
Available-for-sale, Gross Unrealized Losses	717	270
Available-for-sale	32,212	$ 3,730
Negotiable certificates of deposit
Investment Securities
Available-for-sale, Amortized Cost	693
Available-for-sale, Gross Unrealized Gains	14
Available-for-sale	$ 707

Investment securities - Maturit

Investment securities - Maturity Distribution of Debt Securities Classified as Available-for-Sale (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investment securities
Within one year	$ 74,667
After one but within five years	163,400
After five but within ten years	77,493
After ten years	68,668
Available for sale securities, Amortized Cost	384,228
Mortgage-backed and other amortizing securities	217,042
Available-for-sale, Amortized Cost	601,270	$ 450,454
Within one year	73,596
After one but within five years	154,865
After five but within ten years	71,741
After ten years	59,093
Available for sale securities, Fair Value	359,295
Mortgage-backed and other amortizing securities	203,191
Total	$ 562,486	$ 398,927

Investment securities - Summary

Investment securities - Summary of Amortized Cost and Fair Value of Securities by Contractual Maturity (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Amortized Cost of Held-to-maturity Securities
Amortized Cost, After one but within five years, Held to maturity	$ 1,191
Amortized Cost, After five but within ten years, Held to maturity	9,984
Amortized Cost, Held to maturity	11,175
Amortized Cost, Mortgage-backed securities, Held to maturity	68,686
Held-to-maturity, Amortized Cost	79,861	$ 84,851
Fair Value of Held-to-maturity Securities
Fair Value, After one but within five years, Held to maturity	1,096
Fair Value, After five but within ten years, Held to maturity	9,244
Fair Value, Held to maturity	10,340
Fair Value, Mortgage-backed securities, Held to maturity	58,694
Held to maturity, Fair Value	$ 69,034	$ 71,698

Investment securities - Pledged

Investment securities - Pledged Securities (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
Collateral Pledged
Available-for-sale and Held-to-maturity securities
Carrying value of securities pledged	$ 368.6	$ 322.4
U.S. government-sponsored enterprises
Available-for-sale and Held-to-maturity securities
Maximum percentage of stockholders' equity exceeded for securities of any individual issuer	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, 2024 USD ($) security	Dec. 31, 2023 USD ($) security
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security	20	3
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	237	248
Total, Available-for-sale, Number of Securities in a Loss Position \| security	257	251
Available-for-sale Debt Securities, Less than 12 Months, Fair Value	$ 20,832	$ 1,570
Available-for-sale Debt Securities, 12 Months or More, Fair Value	387,315	397,201
Available-for-sale Debt Securities, Total	408,147	398,771
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months	379	11
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	41,288	51,516
Available-for-sale Debt Securities Unrealized losses, Total	$ 41,667	$ 51,527
Held to Maturity, Debt Securities
Held to Maturity, Less Than 12 Months, Number of Securities in a Loss Position	4	2
Held to Maturity, 12 Months or Longer, Number of Securities in a Loss Position	24	22
Total, Held to Maturity, Number of Securities in a Loss Position	28	24
Held-to-maturity Debt (HTM) Securities, Less than 12 Months	$ 1,182	$ 1,438
Held-to-maturity Debt (HTM) Securities, 12 months or More	66,147	67,365
Held-to-maturity Debt (HTM) Securities, Total	67,329	68,803
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, Less than 12 Months	7	36
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, 12 Months or More	10,820	13,118
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, Total	$ 10,827	$ 13,154
U.S. Treasury securities
Available-for-sale Debt Securities
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	41	43
Total, Available-for-sale, Number of Securities in a Loss Position \| security	41	43
Available-for-sale Debt Securities, 12 Months or More, Fair Value	$ 180,815	$ 184,057
Available-for-sale Debt Securities, Total	180,815	184,057
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	8,375	13,863
Available-for-sale Debt Securities Unrealized losses, Total	$ 8,375	$ 13,863
U.S. government-sponsored enterprises
Available-for-sale Debt Securities
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security		2
Total, Available-for-sale, Number of Securities in a Loss Position \| security		2
Available-for-sale Debt Securities, 12 Months or More, Fair Value		$ 2,152
Available-for-sale Debt Securities, Total		2,152
Available-for-sale Debt Securities Unrealized losses, 12 Months or More		387
Available-for-sale Debt Securities Unrealized losses, Total		$ 387
U.S. government-sponsored enterprises, Tax-exempt
Held to Maturity, Debt Securities
Held to Maturity, Less Than 12 Months, Number of Securities in a Loss Position \| security	4	2
Held to Maturity, 12 Months or Longer, Number of Securities in a Loss Position \| security	12	10
Total, Held to Maturity, Number of Securities in a Loss Position \| security	16	12
Held-to-maturity Debt (HTM) Securities, Less than 12 Months	$ 1,182	$ 1,438
Held-to-maturity Debt (HTM) Securities, 12 months or More	7,453	6,209
Held-to-maturity Debt (HTM) Securities, Total	8,635	7,647
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, Less than 12 Months	7	36
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, 12 Months or More	828	624
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, Total	$ 835	$ 660
State and municipals, Taxable
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security		1
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	64	65
Total, Available-for-sale, Number of Securities in a Loss Position \| security	64	66
Available-for-sale Debt Securities, Less than 12 Months, Fair Value		$ 995
Available-for-sale Debt Securities, 12 Months or More, Fair Value	$ 58,033	56,105
Available-for-sale Debt Securities, Total	58,033	57,100
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months		6
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	8,186	10,725
Available-for-sale Debt Securities Unrealized losses, Total	$ 8,186	$ 10,731
State and municipals, Tax-exempt
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security	1	2
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	91	93
Total, Available-for-sale, Number of Securities in a Loss Position \| security	92	95
Available-for-sale Debt Securities, Less than 12 Months, Fair Value	$ 680	$ 575
Available-for-sale Debt Securities, 12 Months or More, Fair Value	64,293	66,393
Available-for-sale Debt Securities, Total	64,973	66,968
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months		5
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	8,467	8,613
Available-for-sale Debt Securities Unrealized losses, Total	$ 8,467	$ 8,618
Residential mortgage-backed securities, U.S. government agencies
Available-for-sale Debt Securities
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	1	3
Total, Available-for-sale, Number of Securities in a Loss Position \| security	1	3
Available-for-sale Debt Securities, 12 Months or More, Fair Value	$ 6	$ 724
Available-for-sale Debt Securities, Total	6	724
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	0	34
Available-for-sale Debt Securities Unrealized losses, Total	$ 0	$ 34
Held to Maturity, Debt Securities
Held to Maturity, 12 Months or Longer, Number of Securities in a Loss Position \| security	4	4
Total, Held to Maturity, Number of Securities in a Loss Position \| security	4	4
Held-to-maturity Debt (HTM) Securities, 12 months or More	$ 11,853	$ 12,747
Held-to-maturity Debt (HTM) Securities, Total	11,853	12,747
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, 12 Months or More	2,298	2,653
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, Total	$ 2,298	$ 2,653
Residential mortgage-backed securities, U.S. government-sponsored enterprises
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security	1
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	31	32
Total, Available-for-sale, Number of Securities in a Loss Position \| security	32	32
Available-for-sale Debt Securities, Less than 12 Months, Fair Value	$ 3,601
Available-for-sale Debt Securities, 12 Months or More, Fair Value	73,997	$ 72,671
Available-for-sale Debt Securities, Total	77,598	72,671
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months	41
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	15,495	17,264
Available-for-sale Debt Securities Unrealized losses, Total	$ 15,536	$ 17,264
Held to Maturity, Debt Securities
Held to Maturity, 12 Months or Longer, Number of Securities in a Loss Position \| security	8	8
Total, Held to Maturity, Number of Securities in a Loss Position \| security	8	8
Held-to-maturity Debt (HTM) Securities, 12 months or More	$ 46,841	$ 48,409
Held-to-maturity Debt (HTM) Securities, Total	46,841	48,409
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, 12 Months or More	7,694	9,841
Held-to-maturity Debt (HTM) Securities, Unrealized Loss Position, Total	$ 7,694	$ 9,841
Commercial mortgage-backed Securities, U.S. government-sponsored enterprises
Available-for-sale Debt Securities
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	2	4
Total, Available-for-sale, Number of Securities in a Loss Position \| security	2	4
Available-for-sale Debt Securities, 12 Months or More, Fair Value	$ 4,548	$ 11,369
Available-for-sale Debt Securities, Total	4,548	11,369
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	60	360
Available-for-sale Debt Securities Unrealized losses, Total	$ 60	$ 360
Private collateralized mortgage obligations
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security	9
Total, Available-for-sale, Number of Securities in a Loss Position \| security	9
Available-for-sale Debt Securities, Less than 12 Months, Fair Value	$ 7,699
Available-for-sale Debt Securities, Total	7,699
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months	12
Available-for-sale Debt Securities Unrealized losses, Total	$ 12
Asset backed securities
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security	3
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	1
Total, Available-for-sale, Number of Securities in a Loss Position \| security	4
Available-for-sale Debt Securities, Less than 12 Months, Fair Value	$ 2,818
Available-for-sale Debt Securities, 12 Months or More, Fair Value	2,024
Available-for-sale Debt Securities, Total	4,842
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months	11
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	303
Available-for-sale Debt Securities Unrealized losses, Total	$ 314
Corporate debt securities
Available-for-sale Debt Securities
Available-for-sale, Less Than 12 Months, Number of Securities in a Loss Position \| security	6
Available-for-sale, 12 Months or Greater, Number of Securities in a Loss Position \| security	6	6
Total, Available-for-sale, Number of Securities in a Loss Position \| security	12	6
Available-for-sale Debt Securities, Less than 12 Months, Fair Value	$ 6,034
Available-for-sale Debt Securities, 12 Months or More, Fair Value	3,599	$ 3,730
Available-for-sale Debt Securities, Total	9,633	3,730
Available-for-sale Debt Securities Unrealized losses, Less than 12 Months	315
Available-for-sale Debt Securities Unrealized losses, 12 Months or More	402	270
Available-for-sale Debt Securities Unrealized losses, Total	$ 717	$ 270

Investment securities - Equity

Investment securities - Equity Securities (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
Investment securities
Net gains (losses) on equity investment securities	$ 175	$ 155	$ (17)
Less: net gains realized on equity securities sold	54	54
Unrealized holding gains (losses) on equity securities	$ 121	$ 101	$ (17)

Investment securities (Details)

Investment securities (Details) - USD ($) $ in Thousands	9 Months Ended
Investment securities (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Proceeds from sale of available-for-sale investment securities		$ 65,600
Net gain on available-for-sale securities		$ 81
Preferred Stock, Dividend Rate, Percentage	8.25%
Held-to-maturity, credit loss	$ 0		$ 0
Federal Home Loan Bank of Pittsburgh (FHLB)
Equity securities without readily determinable fair values	7,700		$ 5,200
FNCB
Proceeds from sale of available-for-sale investment securities	241,300
Equity securities without readily determinable fair values	$ 500

Goodwill and Other Intangible_2

Goodwill and Other Intangibles (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Finite-Lived Intangible Assets
Goodwill, Gross Carrying Amount	$ 63,370		$ 63,370		$ 63,370
Goodwill, Additions			13,588
Additions			37,617
Accumulated Impairment Charges	1,665	$ 29	1,665	$ 86
Accumulated Amortization	1,710		1,710
Goodwill, Net Carrying Amount	76,958		76,958		$ 63,370
Net carrying amount of intangible assets	35,907		35,907
Core deposit intangibles
Finite-Lived Intangible Assets
Additions			36,629
Accumulated Impairment Charges			1,700
Accumulated Amortization	1,665		1,665
Net carrying amount of intangible assets	34,964		34,964
Wealth management customer list intangible
Finite-Lived Intangible Assets
Additions			988
Accumulated Amortization	45		45
Net carrying amount of intangible assets	$ 943		$ 943

Goodwill and Other Intangible_3

Goodwill and Other Intangibles - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Goodwill and Other Intangibles
Accumulated amortization on intangible assets	$ 1,710		$ 1,710
Amortization of intangible assets	$ 1,665	$ 29	$ 1,665	$ 86

Goodwill and Other Intangible_4

Goodwill and Other Intangibles - Summary of Estimated Amortization Expense on Intangible Assets (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Finite-Lived Intangible Assets
2024	$ 1,710
2025	6,498
2026	5,814
2027	5,130
2028	4,446
Thereafter	12,309
Total amortizing intangible	35,907
Core Deposit
Finite-Lived Intangible Assets
2024	1,665
2025	6,327
2026	5,661
2027	4,995
2028	4,329
Thereafter	11,987
Total amortizing intangible	34,964
Wealth Management
Finite-Lived Intangible Assets
2024	45
2025	171
2026	153
2027	135
2028	117
Thereafter	322
Total amortizing intangible	$ 943

Loans, net and allowance for _3

Loans, net and allowance for credit losses - Net Deferred Loan Costs (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Jul. 01, 2024	Dec. 31, 2023
Net deferred loan costs	$ 1,000		$ 400
Net loans	$ 4,030,342		$ 2,828,002
FNCB
Net loans		$ 1,200,000

Loans, net and allowance for _4

Loans, net and allowance for credit losses - Major Classifications of Loans Outstanding (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023	Sep. 30, 2023
Accounts, Notes, Loans and Financing Receivable
Loans	$ 4,069,683	$ 2,849,897
Financing receivable, accrued interest, after allowance for credit loss	15,100		$ 10,600
Accrued interest receivable on available of sale securities	2,500		1,600
Accrued interest receivable on held to maturity securities	175		$ 185
Commercial and Industrial
Accounts, Notes, Loans and Financing Receivable
Loans	699,912	368,411
Municipal
Accounts, Notes, Loans and Financing Receivable
Loans	190,167	175,304
Commercial, Industrial and Municipal
Accounts, Notes, Loans and Financing Receivable
Loans	890,079	543,715
Real estate
Accounts, Notes, Loans and Financing Receivable
Loans	2,860,178	2,223,921
Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Loans	2,309,588	1,863,118
Residential real estate
Accounts, Notes, Loans and Financing Receivable
Loans	550,590	360,803
Consumer
Accounts, Notes, Loans and Financing Receivable
Loans	145,960	82,261
Indirect Auto
Accounts, Notes, Loans and Financing Receivable
Loans	130,380	75,389
Consumer Other
Accounts, Notes, Loans and Financing Receivable
Loans	15,580	$ 6,872
Equipment Financing
Accounts, Notes, Loans and Financing Receivable
Loans	$ 173,466

Loans, net and allowance for _5

Loans, net and allowance for credit losses -Purchased credit deteriorated (PCD) loans (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 01, 2024	Sep. 30, 2024	Sep. 30, 2024
Financial Asset Acquired with Credit Deterioration [Member]
Accounts, Notes, Loans and Financing Receivable
PCD Allowance for Credit Losses at Acquisition		$ 1,841	$ 1,841
Financial Asset Acquired with Credit Deterioration [Member] \| FNCB
Accounts, Notes, Loans and Financing Receivable
Unpaid Principal Balance	$ 106,321
Non-credit Discount at Acquisition	(6,524)
PCD Allowance for Credit Losses at Acquisition	1,841
Fair Value of PCD Loans at Acquisition	101,638
PCD accruing \| FNCB
Accounts, Notes, Loans and Financing Receivable
Unpaid Principal Balance	95,851
Non-credit Discount at Acquisition	(3,626)
PCD Allowance for Credit Losses at Acquisition	1,841
Fair Value of PCD Loans at Acquisition	94,066
PCD nonaccruing \| FNCB
Accounts, Notes, Loans and Financing Receivable
Unpaid Principal Balance	10,470
Non-credit Discount at Acquisition	(2,898)
Fair Value of PCD Loans at Acquisition	$ 7,572

Loans, net and allowance for _6

Loans, net and allowance for credit 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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Allowance for loan losses:
Beginning Balance	$ 23,123	$ 23,218	$ 21,895	$ 27,472
Charge-offs	(533)	(65)	(776)	(217)
Recoveries	452	23	619	141
(Credits) provisions	130	(166)	1,434	(1,103)
Ending balance	39,341	23,010	39,341	23,010
Cumulative impact of adoption \| ASC 326
Allowance for loan losses:
Beginning Balance				(3,283)
Adjusted Balance
Allowance for loan losses:
Beginning Balance				24,189
Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	14,328		14,328
PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	1,841		1,841
Commercial
Allowance for loan losses:
Beginning Balance	2,171	2,751	2,272	4,365
Charge-offs	(5)		(51)	(4)
Recoveries	10	4	90	9
(Credits) provisions	(162)	(504)	(297)	(436)
Ending balance	4,610	2,251	4,610	2,251
Commercial \| Cumulative impact of adoption \| ASC 326
Allowance for loan losses:
Beginning Balance				(1,683)
Commercial \| Adjusted Balance
Allowance for loan losses:
Beginning Balance				2,682
Commercial \| Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	2,259		2,259
Commercial \| PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	337		337
Municipal
Allowance for loan losses:
Beginning Balance	711	827	788	1,247
(Credits) provisions	(321)	40	(398)	(1,127)
Ending balance	963	867	963	867
Municipal \| Cumulative impact of adoption \| ASC 326
Allowance for loan losses:
Beginning Balance				747
Municipal \| Adjusted Balance
Allowance for loan losses:
Beginning Balance				1,994
Municipal \| Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	502		502
Municipal \| PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	71		71
Commercial real estate
Allowance for loan losses:
Beginning Balance	15,156	14,961	14,153	17,915
Charge-offs	(26)		(27)
Recoveries	70		70	1
(Credits) provisions	2,172	134	3,176	523
Ending balance	21,892	15,095	21,892	15,095
Commercial real estate \| Cumulative impact of adoption \| ASC 326
Allowance for loan losses:
Beginning Balance				(3,344)
Commercial real estate \| Adjusted Balance
Allowance for loan losses:
Beginning Balance				14,571
Commercial real estate \| Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	4,149		4,149
Commercial real estate \| PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	371		371
Residential real estate
Allowance for loan losses:
Beginning Balance	4,230	3,767	3,782	3,072
Recoveries	4	3	8	22
(Credits) provisions	(1,241)	128	(797)	(163)
Ending balance	5,246	3,898	5,246	3,898
Residential real estate \| Cumulative impact of adoption \| ASC 326
Allowance for loan losses:
Beginning Balance				967
Residential real estate \| Adjusted Balance
Allowance for loan losses:
Beginning Balance				4,039
Residential real estate \| Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	1,785		1,785
Residential real estate \| PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	468		468
Consumer
Allowance for loan losses:
Beginning Balance	855	912	900	873
Charge-offs	(444)	(65)	(640)	(213)
Recoveries	310	16	393	109
(Credits) provisions	(528)	36	(460)	100
Ending balance	1,983	$ 899	1,983	899
Consumer \| Cumulative impact of adoption \| ASC 326
Allowance for loan losses:
Beginning Balance				30
Consumer \| Adjusted Balance
Allowance for loan losses:
Beginning Balance				$ 903
Consumer \| Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	1,470		1,470
Consumer \| PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	320		320
Equipment Financing
Allowance for loan losses:
Charge-offs	(58)		(58)
Recoveries	58		58
(Credits) provisions	210		210
Ending balance	4,647		4,647
Equipment Financing \| Non-PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	4,163		4,163
Equipment Financing \| PCD loans
Allowance for loan losses:
PCD Allowance for Credit Losses at Acquisition	$ 274		$ 274

Loans, net and allowance for _7

Loans, net and allowance for credit losses - Allocation of Allowance for Loan Losses and Related Loans by Major Classification of Loans (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Allowance for loan losses:
Ending balance: individually evaluated for impairment	$ 408	$ 31
Ending balance: collectively evaluated for impairment	38,933	21,864
Loans receivable:
Loans	4,069,683	2,849,897
Ending balance: collectively evaluated for impairment	4,048,617	2,845,157
Real estate
Loans receivable:
Ending balance: individually evaluated for impairment	21,059	4,730
Non-real estate
Loans receivable:
Ending balance: individually evaluated for impairment	7	10
Commercial
Allowance for loan losses:
Ending balance: individually evaluated for impairment	8	10
Ending balance: collectively evaluated for impairment	4,602	2,262
Loans receivable:
Loans	699,912	368,411
Ending balance: collectively evaluated for impairment	695,725	368,394
Commercial \| Real estate
Loans receivable:
Ending balance: individually evaluated for impairment	4,180	7
Commercial \| Non-real estate
Loans receivable:
Ending balance: individually evaluated for impairment	7	10
Municipal
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	963	788
Loans receivable:
Loans	190,167	175,304
Ending balance: collectively evaluated for impairment	190,167	175,304
Commercial real estate
Allowance for loan losses:
Ending balance: individually evaluated for impairment	400	21
Ending balance: collectively evaluated for impairment	21,492	14,132
Loans receivable:
Loans	2,309,588	1,863,118
Ending balance: collectively evaluated for impairment	2,298,443	1,860,144
Commercial real estate \| Real estate
Loans receivable:
Ending balance: individually evaluated for impairment	11,145	2,974
Residential real estate
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	5,246	3,782
Loans receivable:
Loans	550,590	360,803
Ending balance: collectively evaluated for impairment	545,707	359,054
Residential real estate \| Real estate
Loans receivable:
Ending balance: individually evaluated for impairment	4,883	1,749
Consumer
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	1,983	900
Loans receivable:
Loans	145,960	82,261
Ending balance: collectively evaluated for impairment	145,960	$ 82,261
Equipment Financing
Allowance for loan losses:
Ending balance: collectively evaluated for impairment	4,647
Loans receivable:
Loans	173,466
Ending balance: collectively evaluated for impairment	172,615
Equipment Financing \| Real estate
Loans receivable:
Ending balance: individually evaluated for impairment	$ 851

Loans, net and allowance for _8

Loans, net and allowance for credit losses - Nonaccrual Loans (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Losses
Total Nonaccrual Loans	$ 20,949		$ 20,949		$ 3,962
Nonaccrual with an Allowance for Credit Losses	2,971		2,971		1,180
Nonaccrual with no Allowance for Credit Losses	17,978		17,978		2,782
Interest income recorded on nonaccrual loans	887	$ 11	961	$ 426
Commercial
Financing Receivable, Allowance for Credit Losses
Total Nonaccrual Loans	4,180		4,180		10
Nonaccrual with an Allowance for Credit Losses	351		351		10
Nonaccrual with no Allowance for Credit Losses	3,829		3,829
Commercial real estate
Financing Receivable, Allowance for Credit Losses
Total Nonaccrual Loans	11,146		11,146		2,974
Nonaccrual with an Allowance for Credit Losses	2,620		2,620		1,170
Nonaccrual with no Allowance for Credit Losses	8,526		8,526		1,804
Residential real estate
Financing Receivable, Allowance for Credit Losses
Total Nonaccrual Loans	4,321		4,321		760
Nonaccrual with no Allowance for Credit Losses	4,321		4,321		760
Consumer
Financing Receivable, Allowance for Credit Losses
Total Nonaccrual Loans	451		451		218
Nonaccrual with no Allowance for Credit Losses	451		451		$ 218
Equipment Financing
Financing Receivable, Allowance for Credit Losses
Total Nonaccrual Loans	851		851
Nonaccrual with no Allowance for Credit Losses	$ 851		$ 851

Loans, net and allowance for _9

Loans, net and allowance for credit losses - Major Classification of Loans Portfolio Summarized by Credit Quality (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable
Year 1	$ 297,976	$ 212,647
Year 2	435,854	726,011
Year 3	971,690	693,987
Year 4	888,161	216,917
Year 5	277,375	218,872
Prior	841,182	549,793
Revolving Loans Amortized Cost Basis	356,993	217,413
Revolving Loans Converted to Term	452	14,257
Total	4,069,683	2,849,897
Gross charge-offs, Year 1	90
Gross charge-offs, Year 2	242	95
Gross charge-offs, Year 3	186	101
Gross charge-offs, Year 4	127	90
Gross charge-offs, Year 5	22	49
Gross charge-offs, Prior	109	2,686
Gross charge-offs, Revolving Loans Amortized Cost Basis		4
Total	776	3,025
Commercial
Accounts, Notes, Loans and Financing Receivable
Year 1	56,176	9,871
Year 2	87,678	39,067
Year 3	83,181	28,351
Year 4	91,007	29,966
Year 5	44,345	44,584
Prior	109,446	82,773
Revolving Loans Amortized Cost Basis	228,072	133,149
Revolving Loans Converted to Term	7	650
Total	699,912	368,411
Gross charge-offs, Year 2	41
Gross charge-offs, Year 4	2	21
Gross charge-offs, Prior	8	33
Gross charge-offs, Revolving Loans Amortized Cost Basis		4
Total	51	58
Municipal
Accounts, Notes, Loans and Financing Receivable
Year 1	5,249	1,888
Year 2	6,180	48,095
Year 3	51,520	94,791
Year 4	100,817	10,804
Year 5	10,347	16
Prior	15,999	19,652
Revolving Loans Amortized Cost Basis	55	58
Total	190,167	175,304
Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Year 1	136,530	156,446
Year 2	191,176	556,391
Year 3	667,311	493,026
Year 4	546,579	143,228
Year 5	164,682	154,483
Prior	596,521	359,427
Revolving Loans Amortized Cost Basis	6,652
Revolving Loans Converted to Term	137	117
Total	2,309,588	1,863,118
Gross charge-offs, Prior	27	2,598
Total	27	2,598
Residential real estate
Accounts, Notes, Loans and Financing Receivable
Year 1	23,736	17,389
Year 2	34,801	52,093
Year 3	78,806	65,280
Year 4	125,912	27,447
Year 5	52,941	16,652
Prior	112,908	84,940
Revolving Loans Amortized Cost Basis	121,178	83,512
Revolving Loans Converted to Term	308	13,490
Total	550,590	360,803
Consumer
Accounts, Notes, Loans and Financing Receivable
Year 1	25,689	27,053
Year 2	42,014	30,365
Year 3	44,450	12,539
Year 4	21,403	5,472
Year 5	5,060	3,137
Prior	6,308	3,001
Revolving Loans Amortized Cost Basis	1,036	694
Total	145,960	82,261
Gross charge-offs, Year 1	90
Gross charge-offs, Year 2	143	95
Gross charge-offs, Year 3	186	101
Gross charge-offs, Year 4	125	69
Gross charge-offs, Year 5	22	49
Gross charge-offs, Prior	74	55
Total	640	369
Equipment Financing
Accounts, Notes, Loans and Financing Receivable
Year 1	50,596
Year 2	74,005
Year 3	46,422
Year 4	2,443
Total	173,466
Gross charge-offs, Year 2	58
Total	58
Pass \| Commercial
Accounts, Notes, Loans and Financing Receivable
Year 1	54,824	9,856
Year 2	85,532	38,172
Year 3	80,128	28,127
Year 4	90,107	29,966
Year 5	40,718	44,551
Prior	107,295	82,190
Revolving Loans Amortized Cost Basis	219,160	131,536
Revolving Loans Converted to Term	7	650
Total	677,771	365,048
Pass \| Municipal
Accounts, Notes, Loans and Financing Receivable
Year 1	5,249	1,888
Year 2	6,180	48,095
Year 3	51,520	94,791
Year 4	100,817	10,804
Year 5	10,347	16
Prior	15,999	19,652
Revolving Loans Amortized Cost Basis	55	58
Total	190,167	175,304
Pass \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Year 1	136,530	156,277
Year 2	188,333	553,754
Year 3	660,675	491,506
Year 4	536,817	143,068
Year 5	163,176	153,426
Prior	563,148	351,142
Revolving Loans Amortized Cost Basis	6,553
Revolving Loans Converted to Term	137	117
Total	2,255,369	1,849,290
Pass \| Residential real estate
Accounts, Notes, Loans and Financing Receivable
Year 1	23,736	17,385
Year 2	34,797	52,093
Year 3	78,746	65,280
Year 4	125,726	27,118
Year 5	52,640	16,652
Prior	111,597	84,652
Revolving Loans Amortized Cost Basis	121,174	83,507
Revolving Loans Converted to Term	308	13,490
Total	548,724	360,177
Pass \| Consumer
Accounts, Notes, Loans and Financing Receivable
Year 1	25,689	27,053
Year 2	41,912	30,307
Year 3	44,430	12,460
Year 4	21,337	5,441
Year 5	5,009	3,107
Prior	6,303	2,981
Revolving Loans Amortized Cost Basis	1,034	694
Total	145,714	82,043
Pass \| Equipment Financing
Accounts, Notes, Loans and Financing Receivable
Year 1	50,596
Year 2	72,636
Year 3	46,005
Year 4	2,443
Total	171,680
Special Mention \| Commercial
Accounts, Notes, Loans and Financing Receivable
Year 1	1,352
Year 2	1,136	876
Year 3	701	182
Year 4	458
Year 5	2,449
Prior	1,464	49
Revolving Loans Amortized Cost Basis	1,806	832
Total	9,366	1,939
Special Mention \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Year 2	2,342	1,299
Year 3	950
Year 4	3,708
Year 5	1,351	360
Prior	25,304	2,761
Revolving Loans Amortized Cost Basis	99
Total	33,754	4,420
Special Mention \| Equipment Financing
Accounts, Notes, Loans and Financing Receivable
Year 2	710
Year 3	417
Total	1,127
Substandard \| Commercial
Accounts, Notes, Loans and Financing Receivable
Year 1		15
Year 2	1,010	19
Year 3	2,352	42
Year 4	442
Year 5	1,178	33
Prior	687	534
Revolving Loans Amortized Cost Basis	7,106	781
Total	12,775	1,424
Substandard \| Commercial real estate
Accounts, Notes, Loans and Financing Receivable
Year 1		169
Year 2	501	1,338
Year 3	5,686	1,520
Year 4	6,054	160
Year 5	155	697
Prior	8,069	5,524
Total	20,465	9,408
Substandard \| Residential real estate
Accounts, Notes, Loans and Financing Receivable
Year 1		4
Year 2	4
Year 3	60
Year 4	186	329
Year 5	301
Prior	1,311	288
Revolving Loans Amortized Cost Basis	4	5
Total	1,866	626
Substandard \| Consumer
Accounts, Notes, Loans and Financing Receivable
Year 2	102	58
Year 3	20	79
Year 4	66	31
Year 5	51	30
Prior	5	20
Revolving Loans Amortized Cost Basis	2
Total	246	$ 218
Substandard \| Equipment Financing
Accounts, Notes, Loans and Financing Receivable
Year 2	659
Total	$ 659

Loans, net and allowance for_10

Loans, net and allowance for credit losses- Major Classification of Loans by Past Due Status (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	$ 4,069,683	$ 2,849,897
Loans > 90 Days and Accruing	569	986
Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	23,329	5,209
30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	6,721	2,730
60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	2,746	495
Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	13,862	1,984
Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	4,046,354	2,844,688
Commercial
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	699,912	368,411
Commercial \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	1,776	218
Commercial \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	762	53
Commercial \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	173	155
Commercial \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	841	10
Commercial \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	698,136	368,193
Municipal
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	190,167	175,304
Municipal \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	190,167	175,304
Commercial real estate
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	2,309,588	1,863,118
Commercial real estate \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	11,231	436
Commercial real estate \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	2,226	152
Commercial real estate \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	206	5
Commercial real estate \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	8,799	279
Commercial real estate \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	2,298,357	1,862,682
Residential real estate
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	550,590	360,803
Loans > 90 Days and Accruing	558	986
Residential real estate \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	6,345	3,116
Residential real estate \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	1,153	1,456
Residential real estate \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	1,136	50
Residential real estate \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	4,056	1,610
Residential real estate \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	544,245	357,687
Consumer
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	145,960	82,261
Loans > 90 Days and Accruing	11
Consumer \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	2,612	1,439
Consumer \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	1,759	1,069
Consumer \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	687	285
Consumer \| Greater than 90 Days
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	166	85
Consumer \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	143,348	$ 80,822
Equipment Financing
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	173,466
Equipment Financing \| Financial Assets, Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	1,365
Equipment Financing \| 30-59 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	821
Equipment Financing \| 60-89 Days Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	544
Equipment Financing \| Financial Assets, Not Past Due
Financing Receivable, Recorded Investment, Past Due.
Loans held for investment	$ 172,101

Loans, net and allowance for_11

Loans, net and allowance for credit losses - Allowance for Credit Losses on Off Balance Sheet Commitments (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Financing Receivable, Allowance for Credit Losses
Balance	$ 334	$ 93	$ 43	$ 179
Merger related adjustments	1,179		1,179
Credit to credit losses recorded in noninterest expense	(784)	(12)	(493)	(368)
Total allowance for credit losses on off balance sheet commitments	$ 729	81	$ 729	81
Cumulative impact of adoption
Financing Receivable, Allowance for Credit Losses
Total allowance for credit losses on off balance sheet commitments		$ 270		$ 270

Loans, net and allowance for_12

Loans, net and allowance for credit losses- Summary of Contractual Amounts of Off-balance Sheet Commitments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Sep. 30, 2023
Loans, net and allowance for credit losses
Commitments to extend credit	$ 160,389	$ 203,183
Unused portions of lines of credit	569,195	370,792
Standby letters of credit	61,943	62,181
Total contractual amounts of off-balance sheet commitments	$ 791,527	$ 636,156

Loans, net and allowance for_13

Loans, net and allowance for credit losses - Loan Modifications and Troubled Debt Restructurings (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024 loan item	Sep. 30, 2023 loan	Sep. 30, 2024 item loan	Sep. 30, 2023 loan	Jun. 30, 2024 USD ($)
Loans, net and allowance for credit losses
Number of modifications \| item	0		1
Number of loans		0		0
Number of defaults on loans	0	0	0	0
Recorded Investment \| $					$ 370

Other assets - Components of Ot

Other assets - Components of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Other real estate owned	$ 1,152
Mortgage servicing rights	832	$ 870
Prepaid shares tax	1,489	949
Prepaid pension	4,144	3,764
Prepaid expenses	7,704	4,840
Restricted equity securities (FHLB and other)	9,829	5,180
Investment in low income housing partnership	15,779	5,015
Interest rate swaps	17,845	19,833
Other assets	11,789	2,353
Total	70,056	42,249
Interest rate swaps
Interest rate swaps	$ 17,338	$ 19,278

Fair value estimates (Details)

Fair value estimates (Details) $ in Thousands	9 Months Ended	12 Months Ended
Fair value estimates (Details) $ in Thousands	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Corporate debt securities \| security	35
Aggregate amortized cost	$ 601,270	$ 450,454
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
Market Not Active
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Corporate debt securities \| security	3
Recurring Basis \| Market Not Active
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Aggregate a fair value	$ 4,300
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Aggregate amortized cost	32,307	$ 4,000
Corporate debt securities \| Market Not Active
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Aggregate amortized cost	4,300
Corporate debt securities \| Recurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Aggregate a fair value	$ 32,200

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, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	$ 566,407	$ 399,025
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	180,815	184,057
U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value		2,152
State and municipals, Taxable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	77,391	57,100
State and municipals, Tax-exempt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	68,170	67,124
Residential mortgage-backed securities, U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	1,481	724
Residential mortgage-backed securities, U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	130,070	84,040
Commercial mortgage-backed securities: U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	4,548
Commercial mortgage-backed securities: Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	23,845
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	32,212	3,730
Negotiable certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	707
Common equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	3,921	98
Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	17,338	19,278
Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value	(15,864)	(18,808)
Private collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	43,247
Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	184,736	184,155
Level 1 \| U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	180,815	184,057
Level 1 \| Common equity securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	3,921	98
Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	377,326	214,870
Level 2 \| U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value		2,152
Level 2 \| State and municipals, Taxable
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	77,391	57,100
Level 2 \| State and municipals, Tax-exempt
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	68,170	67,124
Level 2 \| Residential mortgage-backed securities, U.S. government agencies
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	1,481	724
Level 2 \| Residential mortgage-backed securities, U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	130,070	84,040
Level 2 \| Commercial mortgage-backed securities: U.S. government-sponsored enterprises
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	4,548
Level 2 \| Commercial mortgage-backed securities: Asset backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	23,845
Level 2 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	27,867	3,730
Level 2 \| Negotiable certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	707
Level 2 \| Interest rate swap-other assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	17,338	19,278
Level 2 \| Interest rate swap-other liabilities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Liabilities measured at fair value	(15,864)	$ (18,808)
Level 2 \| Private collateralized mortgage obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	43,247
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	4,345
Level 3 \| Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Assets measured at fair value	$ 4,345

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, 2024	Dec. 31, 2023
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loans individually evaluated for credit loss	$ 21,066	$ 4,740
Other real estate owned	1,152
Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Loans individually evaluated for credit loss	21,066	$ 4,740
Other real estate owned	$ 1,152

Fair value estimates - Addition

Fair value estimates - Additional Quantitative Information about Assets Measured at Fair Value on Nonrecurring Basis (Details) - Nonrecurring Basis - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Fair Value Inputs, Assets, Quantitative Information
Other real estate owned	$ 1,152
Level 3
Fair Value Inputs, Assets, Quantitative Information
Other real estate owned	1,152
Loans individually evaluated for credit loss \| Level 3
Fair Value Inputs, Assets, Quantitative Information
Assets measured at fair value	21,066	$ 4,740
Other Real Estate Owned \| Level 3
Fair Value Inputs, Assets, Quantitative Information
Other real estate owned	$ 1,152
Measurement Input, Appraisal Adjustment \| Loans individually evaluated for credit loss \| Level 3 \| Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	7.10%	22.80%
Measurement Input, Appraisal Adjustment \| Loans individually evaluated for credit loss \| Level 3 \| Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	94%	82.40%
Measurement Input, Appraisal Adjustment \| Loans individually evaluated for credit loss \| Level 3 \| Weighted Average
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	40%	63.60%
Measurement Input, Appraisal Adjustment \| Other Real Estate Owned \| Level 3 \| Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	1%
Measurement Input, Appraisal Adjustment \| Other Real Estate Owned \| Level 3 \| Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	1%
Measurement Input, Appraisal Adjustment \| Other Real Estate Owned \| Level 3 \| Weighted Average
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of appraisal adjustments	1%
Measurement Input, Liquidation expenses \| Loans individually evaluated for credit loss \| Level 3 \| Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of liquidation expenses	3%	3%
Measurement Input, Liquidation expenses \| Loans individually evaluated for credit loss \| Level 3 \| Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of liquidation expenses	6%	6%
Measurement Input, Liquidation expenses \| Loans individually evaluated for credit loss \| Level 3 \| Weighted Average
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of liquidation expenses	5.80%	5.20%
Measurement Input, Liquidation expenses \| Other Real Estate Owned \| Level 3 \| Minimum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of liquidation expenses	3%
Measurement Input, Liquidation expenses \| Other Real Estate Owned \| Level 3 \| Maximum
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of liquidation expenses	6%
Measurement Input, Liquidation expenses \| Other Real Estate Owned \| Level 3 \| Weighted Average
Fair Value Inputs, Assets, Quantitative Information
Range and weighted average of liquidation expenses	4.50%

Fair value estimates - Carrying

Fair value estimates - Carrying and Fair Values of Financial Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Investment securities:
Available-for-sale	$ 562,486	$ 398,927
Common equity securities	3,921	98
Held to maturity	69,034	71,698
Mortgage servicing rights	832	870
Financial liabilities:
Subordinated debt	33,000	33,000
Carrying Value
Financial assets:
Cash and due from banks	285,469	187,365
Investment securities:
Available-for-sale	562,486	398,927
Common equity securities	3,921	98
Held to maturity	79,861	84,851
Loans held for sale	803	250
Net loans	4,030,342	2,828,002
Accrued interest receivable	17,979	12,734
Mortgage servicing rights	832	870
Restricted equity securities (FHLB and other)	9,829	5,180
Other assets - interest rate swaps	17,338	19,278
Total assets	5,008,860	3,537,555
Financial liabilities:
Deposits	4,637,864	3,279,037
Short-term borrowings	37,346	17,590
Long-term debt	111,489	25,000
Subordinated debt	33,000	33,000
Accrued interest payable	6,829	5,765
Other liabilities - interest rate swaps	15,864	18,808
Total liabilities	4,850,407	3,379,200
Fair Value
Financial assets:
Cash and due from banks	285,469	187,365
Investment securities:
Available-for-sale	562,486	398,927
Common equity securities	3,921	98
Held to maturity	69,034	71,698
Loans held for sale	803	250
Net loans	3,949,667	2,593,151
Accrued interest receivable	17,979	12,734
Mortgage servicing rights	1,669	1,745
Restricted equity securities (FHLB and other)	9,829	5,180
Other assets - interest rate swaps	17,338	19,278
Total assets	4,918,195	3,290,426
Financial liabilities:
Deposits	4,639,273	3,274,774
Short-term borrowings	37,346	17,590
Long-term debt	112,680	24,924
Subordinated debt	32,232	45,504
Accrued interest payable	6,829	5,765
Other liabilities - interest rate swaps	15,864	18,808
Total liabilities	4,852,695	3,387,365
Level 1
Financial assets:
Cash and due from banks	285,469	187,365
Investment securities:
Available-for-sale	180,815	184,057
Common equity securities	3,921	98
Level 2
Investment securities:
Available-for-sale	377,326	214,870
Held to maturity	69,034	71,698
Loans held for sale	803
Accrued interest receivable	17,979	12,734
Mortgage servicing rights	1,669	1,745
Restricted equity securities (FHLB and other)	9,829	5,180
Other assets - interest rate swaps	17,338	19,278
Financial liabilities:
Deposits	4,639,273	3,274,774
Short-term borrowings	37,346	17,590
Long-term debt	112,680	24,924
Subordinated debt	32,232	45,504
Accrued interest payable	6,829	5,765
Other liabilities - interest rate swaps	15,864	18,808
Level 3
Investment securities:
Available-for-sale	4,345
Net loans	$ 3,949,667	$ 2,593,151

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, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Components of net periodic pension benefit:
Salaries and employee benefits expense	$ 13,170	$ 8,784	$ 30,459	$ 26,346
Pension Benefits
Components of net periodic pension benefit:
Salaries and employee benefits expense	607	426	1,300	1,300
Interest cost	158	164	475	492
Expected return on plan assets	(320)	(293)	(961)	(878)
Amortization of unrecognized net loss	49	50	146	149
Net periodic pension benefit:	$ (113)	$ (79)	$ (340)	$ (237)

Employee benefit plans - Additi

Employee benefit plans - Additional Information (Details) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
	Jul. 01, 2024	Sep. 30, 2024	Sep. 30, 2024	Sep. 30, 2023
FNCB
Share-based Compensation Arrangement by Share-based Payment Award
Remaining period over which the shares/cost will be expensed	57 months
Common stock available for grant as awards		66,298	66,298
Salaries and employee benefits expense		$ 33
2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Salaries and employee benefits expense		84	$ 251
2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Salaries and employee benefits expense		203	$ 603
Non-Performance-based restricted stock \| 2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Shares or units vesting period			3 years
Performance-based restricted stock units \| 2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Granted shares			23,243	18,222
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
Time based restricted stock \| 2023 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Granted shares			8,895	5,206
Restricted Stock \| 2017 Plan
Share-based Compensation Arrangement by Share-based Payment Award
Remaining period over which the shares/cost will be expensed			2 years 7 months 6 days
Unrecognized compensation expense		$ 2,100	$ 2,100

Derivatives and hedging activ_3

Derivatives and hedging activities - Cumulative Basis Adjustment for Fair Value Hedges (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivatives, Fair Value
Amortized Amount of the Hedged Assets/(Liabilities)	$ 17,845	$ 19,833
Hedged Asset, Statement of Financial Position [Extensible Enumeration]	Debt Securities, Available-for-Sale, Excluding Accrued Interest
Fair value hedges \| Derivatives designated as hedging instruments
Derivatives, Fair Value
Amortized Amount of the Hedged Assets/(Liabilities)	$ 212,522	194,035
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)	1,540	1,333
Fair value hedges \| Derivatives designated as hedging instruments \| Interest rate swaps
Derivatives, Fair Value
Amortized Amount of the Hedged Assets/(Liabilities)	$ 162,038	$ 143,573
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Debt Securities, Available-for-Sale, Excluding Accrued Interest	Debt Securities, Available-for-Sale, Excluding Accrued Interest
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)	$ 1,056	$ 871
Amortized Cost Basis Amount of the Hedged Assets	162,000
Amounts of designated hedged items	100,000
Fair value hedges \| Derivatives designated as hedging instruments \| Fixed Rate Loans
Derivatives, Fair Value
Amortized Amount of the Hedged Assets/(Liabilities)	50,484	50,462
Cumulative Amount of Fair Value Hedging Adjustment Included in the Carrying Amount of the Hedged Assets/(Liabilities)	484	$ 462
Hedged Asset, carrying value	$ 50,000

Derivatives and hedging activ_4

Derivatives and hedging activities - Fair Values of Derivative Instruments (Details) $ in Thousands	Sep. 30, 2024 USD ($) security	Dec. 31, 2023 USD ($)
Derivatives, Fair Value
Amount of reclassification as a reduction to interest income	$ 0
Asset Derivatives	17,845	$ 19,833
Liability Derivatives	19,057	20,633
Interest rate swaps
Derivatives, Fair Value
Asset Derivatives	17,338	19,278
Derivatives designated as hedging instruments \| Other Liabilities.
Derivatives, Fair Value
Liability Derivatives	1,510	1,270
Derivatives designated as hedging instruments \| Interest rate products \| Other Liabilities.
Derivatives, Fair Value
Notional amount	150,000
Liability Derivatives	1,510	1,270
Derivatives not designated as hedging instruments \| Other Assets.
Derivatives, Fair Value
Asset Derivatives	17,847	19,836
Derivatives not designated as hedging instruments \| Other Liabilities.
Derivatives, Fair Value
Liability Derivatives	17,546	19,364
Derivatives not designated as hedging instruments \| Interest rate products \| Other Assets.
Derivatives, Fair Value
Notional amount	289,313
Asset Derivatives	17,845	19,833
Derivatives not designated as hedging instruments \| Interest rate products \| Other Liabilities.
Derivatives, Fair Value
Notional amount	289,313
Liability Derivatives	17,546	19,364
Derivatives not designated as hedging instruments \| Other \| Other Assets.
Derivatives, Fair Value
Notional amount	24,795
Asset Derivatives	2	3
Derivatives not designated as hedging instruments \| Other \| Other Liabilities.
Derivatives, Fair Value
Notional amount	$ 7,250
Derivatives not designated as hedging instruments \| Risk participation agreements
Derivatives, Fair Value
Notional amount		8,400
Derivatives not designated as hedging instruments \| Interest rate swaps
Derivatives, Fair Value
Number of instruments held \| security	140
Notional amount	$ 314,100	$ 230,300

Derivatives and hedging activ_5

Derivatives and hedging activities - Effect of Fair Value and Cash Flow Hedge Accounting on Accumulated Other Comprehensive (Loss) Income (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended		12 Months Ended
	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Derivative Instruments, Gain (Loss)
Amount of Gain (Loss) Recognized in OCI Included Component		$ (1,056)		$ (871)
Amount of (Loss) Reclassified from Accumulated OCI into Income			$ (48)
Interest income
Derivative Instruments, Gain (Loss)
Amount of (Loss) Reclassified from Accumulated OCI into Income	$ (16)
Cash Flow Hedge
Derivative Instruments, Gain (Loss)
Amount of (Loss) Recognized in OCI on Derivative			(1)
Amount of (Loss) Recognized in OCI Excluded Component			(1)
Amount of (Loss) Reclassified from Accumulated OCI into Income	(16)		(48)
Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component	(16)		(48)
Cash Flow Hedge \| Interest rate products \| Interest income
Derivative Instruments, Gain (Loss)
Amount of (Loss) Recognized in OCI on Derivative			(1)
Amount of (Loss) Recognized in OCI Excluded Component			(1)
Amount of (Loss) Reclassified from Accumulated OCI into Income	(16)		(48)
Amount of (Loss) Reclassified from Accumulated OCI into Income Excluded Component	$ (16)		$ (48)

Derivatives and hedging activ_6

Derivatives and hedging activities - Effect of Fair Value and Cash Flow Hedge Accounting on the Consolidated Statements of Income and Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Derivative Instruments, Gain (Loss)
Total amounts of income (loss) 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.	$ (1,424)	$ 747	$ (185)	$ 826
The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships
Amount of (loss) gain reclassified from AOCI into income				(48)
Amount of (loss) reclassified from AOCI into income - Excluded Component		$ (16)		$ (48)
Derivative, Excluded Component, Gain (Loss), Statement of Income or Comprehensive Income [Extensible Enumeration]	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating	Interest Income (Expense), Operating
Interest income
Derivative Instruments, Gain (Loss)
Total amounts of income (loss) 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.	$ 586	$ 188	$ 21	$ 318
The effects of fair value and cash flow hedging: Gain or (loss) on cash flow hedging relationships
Hedged items	2,010	(731)	206	(779)
Derivatives designated as hedging instruments	$ (1,424)	935	$ (185)	$ 1,145
Amount of (loss) gain reclassified from AOCI into income		$ (16)

Derivatives and hedging activ_7

Derivatives and hedging activities - Effect of Derivative Instruments Not Designated as Hedging Instruments on the Consolidated Statements of Income and Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Fee Income \| Fee Income
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative	$ 67		$ 195	$ 457
Derivatives not designated as hedging instruments
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative	(120)	$ 195	(170)	87
Derivatives not designated as hedging instruments \| Interest Rate Products \| Other income / (expense)
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative	$ (120)	194	$ (170)	56
Derivatives not designated as hedging instruments \| Other Contracts \| Other income / (expense)
Derivative Instruments, Gain (Loss)
Amount of Gain or (Loss) Recognized in Income on Derivative		$ 1		$ 31

Derivatives and hedging activ_8

Derivatives and hedging activities - Offsetting Derivatives (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Offsetting of Derivative Assets
Gross Amounts of Recognized Assets	$ 17,845	$ 19,833
Net Amounts of Assets presented in the Balance Sheet	17,845	19,833
Gross Amounts Not Offset presented in the Balance Sheet - Cash Collateral Received	12,410	17,590
Net Amount	5,435	2,243
Offsetting of Derivative Liabilities
Gross Amounts of Recognized Liabilities	19,057	20,633
Net Amounts of Assets presented in the Balance Sheet	19,057	20,633
Gross Amounts Not Offset presented in the Balance Sheet - Financial Instruments	19,057	$ 20,633
Cash collateral paid but not offset	$ 3,320

Derivatives and hedging activ_9

Derivatives and hedging activities - Credit-risk-related Contingent Features (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Derivatives
Termination value of derivatives	$ 19,057	$ 20,633
Cash Collateral Posted	12,410	17,590
Credit-risk contract
Derivatives
Termination value of derivatives	3,300	$ 2,700
Cash Collateral Posted	$ 3,300

Deposits - Components of Intere

Deposits - Components of Interest-bearing and Noninterest-bearing Deposits (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Deposits
Money market accounts	$ 1,018,575	$ 782,243
NOW accounts	1,439,382	796,426
Savings accounts	509,412	429,011
Time deposits less than $250	824,791	505,409
Time deposits $250 or more	128,139	121,265
Total interest-bearing deposits	3,920,299	2,634,354
Noninterest-bearing deposits	717,565	644,683
Total deposits	$ 4,637,864	$ 3,279,037

Deposits (Details)

Deposits (Details) - USD ($) $ in Millions	Sep. 30, 2024	Dec. 31, 2023
FNCB
Cash and Cash Equivalents
Retail deposits	$ 1,300
brokered deposits	140.6
Affiliate company deposits \| Assets pledged as collateral
Cash and Cash Equivalents
Deposit liabilities uninsured by FDIC	$ 2.6
Retail accounts
Cash and Cash Equivalents
Percentage of deposit held	38.60%
Commercial accounts
Cash and Cash Equivalents
Percentage of deposit held	33.30%
Municipal relationships
Cash and Cash Equivalents
Percentage of deposit held	19.70%
Municipal relationships \| Collateralized by letters of credit
Cash and Cash Equivalents
Letters of credit pledged as collateral	$ 372.5
Brokered deposits
Cash and Cash Equivalents
Percentage of deposit held	8.40%
Deposit uninsured by FDIC
Cash and Cash Equivalents
Deposit liabilities uninsured by FDIC	$ 1,600	$ 883.5
Percentage of deposit held	33.80%	26.90%

Deposits - Schedule of Maturiti

Deposits - Schedule of Maturities of Time Deposits (Details) $ in Thousands	Sep. 30, 2024 USD ($)
Deposits
2025	$ 645,140
2026	121,549
2027	70,920
2028	104,268
2029	6,240
Thereafter	4,813
Total	$ 952,930

Borrowings (Details)

Borrowings (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
Borrowings (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Short-term borrowings
Ending Balance	$ 37,346	$ 17,590
Average Balance	36,349	38,331
Maximum Month-End Balance	$ 133,886	$ 186,470
Weighted Average Rate for the Year	5.31%	5.01%
Weighted Average Rate at End of the Period	4.78%	5.35%
FHLB advances - Overnight
Short-term borrowings
Average Balance	$ 8,993
Maximum Month-End Balance	$ 83,900
Weighted Average Rate for the Year	5.53%
Bank Term Funding Program
Short-term borrowings
Ending Balance	$ 24,936
Average Balance	8,270
Maximum Month-End Balance	$ 24,936
Weighted Average Rate for the Year	4.83%
Weighted Average Rate at End of the Period	4.76%
Other borrowings
Short-term borrowings
Ending Balance	$ 12,410	$ 17,590
Average Balance	19,086	19,160
Maximum Month-End Balance	$ 25,050	$ 28,470
Weighted Average Rate for the Year	5.40%	5.54%
Weighted Average Rate at End of the Period	4.83%	5.35%
FHLB Advances
Short-term borrowings
Average Balance		$ 19,171
Maximum Month-End Balance		$ 158,000
Weighted Average Rate for the Year		4.48%

Borrowings - Additional Informa

Borrowings - Additional Information (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Short-term borrowings
Short-term borrowings	$ 37,346	$ 17,590
Other borrowings	12,400	17,600
Net loans	4,030,342	2,828,002
Total investment securities	646,268	483,876
Discount Window
Short-term borrowings
Amount of credit facility used to issue standby letters of credit to collateralize public fund deposits	135,000
Assets pledged as collateral \| Borrow in Custody Program
Short-term borrowings
Net loans	539,500	365,800
Assets pledged as collateral \| Bank Term Funding Program
Short-term borrowings
Total investment securities	25,000	191,000
Assets pledged as collateral \| Discount Window
Short-term borrowings
Total investment securities	142,800	11
Federal Reserve Bank Discount Window
Short-term borrowings
Maximum borrowing capacity	544,800
Bank Term Funding Program
Short-term borrowings
Short-term borrowings	24,936
Borrow in Custody Program
Short-term borrowings
Amount of credit facility used to issue standby letters of credit to collateralize public fund deposits	409,800	246,100
Peoples Bank
Short-term borrowings
Maximum borrowing capacity	1,400,000	1,200,000
Outstanding amount in borrowings	112,100	25,000
Amount of credit facility used to issue standby letters of credit to collateralize public fund deposits	$ 364,500	$ 345,400

Borrowings - Long-term debt adv

Borrowings - Long-term debt advances (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Debt Instrument
Long-term debt	$ 111,489	$ 25,000
Long-term 4.60% fixed rate debt instrument due December 2024
Debt Instrument
Long-term debt	$ 12,650
Fixed interest rate (as a percent)	4.60%
Long-term 4.37% fixed rate debt due March 2025
Debt Instrument
Long-term debt	$ 10,000	$ 10,000
Fixed interest rate (as a percent)	4.37%	4.37%
Long-term 4.40% fixed rate debt instrument due December 2025
Debt Instrument
Long-term debt	$ 9,567
Fixed interest rate (as a percent)	4.40%
Long-term 4.36% fixed rate debt instrument due December 2025
Debt Instrument
Long-term debt	$ 20,000
Fixed interest rate (as a percent)	4.36%
Long-term 4.78% fixed rate debt instrument due March 2026
Debt Instrument
Long-term debt	$ 4,292
Fixed interest rate (as a percent)	4.78%
Long-term 4.20% fixed rate debt due March 2026
Debt Instrument
Long-term debt	$ 15,000	$ 15,000
Fixed interest rate (as a percent)	4.20%	4.20%
Long-term 4.08% fixed rate debt instrument due May 2026
Debt Instrument
Long-term debt	$ 5,000
Fixed interest rate (as a percent)	4.08%
Long-term 4.16% fixed rate debt instrument due June 2027
Debt Instrument
Long-term debt	$ 5,224
Fixed interest rate (as a percent)	4.16%
Long-term 4.40% fixed rate debt instrument due August 2027
Debt Instrument
Long-term debt	$ 6,461
Fixed interest rate (as a percent)	4.40%
Long-term 5.18% fixed rate debt instrument due October 2027
Debt Instrument
Long-term debt	$ 9,107
Fixed interest rate (as a percent)	5.18%
Long-term 4.45% fixed rate debt instrument due March 2028
Debt Instrument
Long-term debt	$ 14,188
Fixed interest rate (as a percent)	4.45%

Borrowings - Maturities of long

Borrowings - Maturities of long-term debt (Details) - USD ($) $ in Thousands	Sep. 30, 2024	Dec. 31, 2023
Long-term debt
2024	$ 12,650
2025	39,567
2026	24,292
2027	20,792
2028	14,188
Total long-term debt	111,489	$ 25,000
FHLB long-term advances	$ 111,500

Subordinated debt (Details)

Subordinated debt (Details) $ in Thousands	Jul. 01, 2024 USD ($) item	Jun. 01, 2020 USD ($)	Sep. 30, 2024 USD ($)
Debt Instrument
Debt Instrument, Variable Interest Rate, Type [Extensible Enumeration]	us-gaap:SecuredOvernightFinancingRateSofrMember
Junior subordinated debt			$ 8,015
Subordinate Notes Due 2030
Debt Instrument
Aggregate principal amount		$ 33,000
Rate of interest for first five years		5.375%
Duration interest rate in effect		5 years
Percentage of debt redeemed		100%
Subordinate Notes Due 2030 \| Minimum
Debt Instrument
Floated interest rate		4.75%
Number of days notice to redeem debt		10 days
Junior subordinated debt \| FNCB
Debt Instrument
Aggregate principal amount	$ 10,300
Fair market value	$ 8,000
Trust preferred securities \| FNCB
Debt Instrument
Basis spread adjustment	0.26161%
Percentage of margin	1.67%
Number Of Consecutive \| item	20
Junior subordinated debt	$ 8,000

Related party transactions (Det

Related party transactions (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Related party transactions
Interest bearing deposits	$ 3,920,299	$ 2,634,354
Related party
Related party transactions
Outstanding balance of non-performing loans	0	0
Interest bearing deposits	$ 131,900	$ 7,800

Related party transactions - Ou

Related party transactions - Outstanding loans (Details) - USD ($) $ in Thousands	3 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Loans and Leases Receivable, Related Parties [Roll Forward]
Balance, beginning of period	$ 99,491	$ 2,818
Additions, new loans and advances	32,337	29
Repayments	(8,203)	(875)
Balance, end of period	$ 123,625	$ 1,972

Regulatory Matters (Details)

Regulatory Matters (Details) $ in Thousands	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)
Total capital to risk-weighted assets
Total capital to risk-weighted assets, Actual Amount	$ 467,588	$ 375,268
Total capital to risk-weighted assets, Actual Ratio	0.1168	0.1412
Total capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	0.0800	0.0800
Total capital ( to risk-weighted assets) - Minimum Required For Capital Adequacy Purposes with Conservation Buffer Ratio	0.1050	0.1050
Total capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.1000	0.1000
Tier 1 capital to risk-weighted assets
Tier 1 capital to risk-weighted assets, Actual Amount	$ 427,518	$ 353,330
Tier 1 capital to risk-weighted assets, Actual Ratio	0.1068	0.1330
Tier 1 capital to risk-weighted assets, Minimum For Capital Adequacy Purposes Ratio	0.0600	0.0600
Tier I capital ( to risk-weighted assets) - Minimum Required For Capital Adequacy Purposes with Conservation Buffer Ratio	0.0850	0.0850
Tier 1 capital to risk-weighted assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.0800	0.0800
Tier I common equity ( to risk-weighted assets)
Tier I common equity ( to risk-weighted assets) - Amount	$ 427,518	$ 353,330
Tier I common equity -Ratio	0.1068	0.1330
Tier I common equity ( to risk-weighted assets) - Minimum Required For Capital Adequacy Purposes Ratio	0.0450	0.0450
Tier I common equity ( to risk-weighted assets) - Minimum Required For Capital Adequacy Purposes with Conservation Buffer Ratio	0.0700	0.0700
Tier I common equity ( to risk-weighted assets) - Minimum Required To Be Well Capitalized Under Prompt Corrective Action Regulations Ratio	0.0650	0.0650
Tier 1 capital to average assets
Tier 1 capital to average assets, Actual Amount	$ 427,518	$ 353,330
Tier 1 capital to average assets, Actual Ratio	0.0823	0.0934
Tier 1 capital to average assets, Minimum For Capital Adequacy Purposes Ratio	0.0400	0.0400
Tier I capital ( to average assets) - Minimum Required For Capital Adequacy Purposes with Conservation Buffer Ratio	0.0400	0.0400
Tier 1 capital to average assets, Minimum to be Well Capitalized under Prompt Corrective Action Provisions Ratio	0.0500	0.0500
Total risk-weighted assets	$ 4,002,166	$ 2,656,901
Total average assets	$ 5,306,258	$ 3,845,219