Western New England Bancorp (WNEB) 10-Q 5 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 01, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-16767
Entity Registrant Name	Western New England Bancorp, Inc.
Entity Central Index Key	0001157647
Entity Tax Identification Number	73-1627673
Entity Incorporation, State or Country Code	MA
Entity Address, Address Line One	141 Elm Street
Entity Address, City or Town	Westfield
Entity Address, State or Province	MA
Entity Address, Postal Zip Code	01086
City Area Code	(413)
Local Phone Number	568-1911
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	WNEB
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		22,693,541

CONSOLIDATED BALANCE SHEETS - U

CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash and due from banks	$ 19,359	$ 17,399
Federal funds sold	8,753	2,987
Interest-bearing deposits and other short-term investments	120,384	67,058
Cash and cash equivalents	148,496	87,444
Securities available-for-sale, at fair value	208,030	201,880
Securities held-to-maturity, at amortized cost (Fair value of $153,324 at September 30, 2021)	154,403
Marketable equity securities, at fair value	11,970	11,968
Federal Home Loan Bank stock and other restricted stock, at cost	2,698	5,160
Loans, net of allowance for loan losses of $19,837 and $21,157 at September 30, 2021 and December 31, 2020, respectively	1,826,313	1,906,226
Premises and equipment, net	24,957	25,103
Accrued interest receivable	7,931	8,477
Bank-owned life insurance	74,286	72,860
Deferred tax asset, net	13,352	12,588
Goodwill	12,487	12,487
Core deposit intangible	2,656	2,937
Other assets	23,219	18,756
TOTAL ASSETS	2,510,798	2,365,886
Deposits:
Non-interest-bearing	627,037	541,759
Interest-bearing	1,597,805	1,496,371
Total deposits	2,224,842	2,038,130
Long-term debt	3,829	57,850
Subordinated debt	19,623
Securities pending settlement		160
Other liabilities	44,162	43,106
Total liabilities	2,292,456	2,139,246
SHAREHOLDERS' EQUITY:
Preferred stock - $0.01 par value, 5,000,000 shares authorized, none outstanding at September 30, 2021 and December 31, 2020
Common stock - $0.01 par value, 75,000,000 shares authorized, 22,848,781 shares issued and outstanding at September 30, 2021; 25,276,193 shares issued and outstanding at December 31, 2020	228	253
Additional paid-in capital	134,556	154,549
Unearned compensation - ESOP	(3,580)	(3,997)
Unearned compensation - Equity Incentive Plan	(1,362)	(1,240)
Retained earnings	102,258	88,354
Accumulated other comprehensive loss	(13,758)	(11,279)
TOTAL SHAREHOLDERS’ EQUITY	218,342	226,640
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 2,510,798	$ 2,365,886

CONSOLIDATED BALANCE SHEETS -_2

CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Securities held-to-maturity, fair value	$ 153,324
Loans, allowance for loan losses	$ 19,837	$ 21,157
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized	75,000,000	75,000,000
Common stock, issued	22,848,781	25,276,193
Common stock, outstanding	22,848,781	25,276,193

CONSOLIDATED STATEMENTS OF NET

CONSOLIDATED STATEMENTS OF NET INCOME - UNAUDITED - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Interest and dividend income:
Residential and commercial real estate loans	$ 14,766	$ 15,503	$ 43,732	$ 46,290
Commercial and industrial loans	3,842	3,786	12,186	10,582
Consumer loans	62	75	193	238
Debt securities, taxable	1,474	909	3,548	3,371
Debt securities, tax-exempt	3	16	9	51
Marketable equity securities	23	28	74	95
Other investments	28	118	91	457
Short-term investments	40	12	90	83
Total interest and dividend income	20,238	20,447	59,923	61,167
Interest expense:
Deposits	1,217	3,190	4,417	11,243
Long-term debt		789	458	2,677
Subordinated debt	256		453
Short-term borrowings		478		1,612
Total interest expense	1,473	4,457	5,328	15,532
Net interest and dividend income	18,765	15,990	54,595	45,635
(Credit) provision for loan losses	(100)	2,725	(1,225)	7,275
Net interest and dividend income after (credit) provision for loan losses	18,865	13,265	55,820	38,360
Non-interest income:
Service charges and fees	2,132	1,764	6,090	5,097
Income from bank-owned life insurance	485	444	1,426	1,365
Gain (loss) on available-for-sale securities, net	2	1,929	(72)	1,965
Net unrealized gain (loss) on marketable equity securities	11	(4)	(72)	133
Gain on sale of mortgages	665		1,134
Gain on non-marketable equity investments			546
Loss on interest rate swap terminations		(2,353)	(402)	(2,353)
Other income		397	58	582
Total non-interest income	3,295	2,177	8,708	6,789
Non-interest expense:
Salaries and employees benefits	8,175	7,204	23,911	21,543
Occupancy	1,124	1,120	3,512	3,359
Furniture and equipment	533	421	1,536	1,175
Data processing	698	768	2,177	2,190
Professional fees	575	615	1,708	1,851
FDIC insurance assessment	273	293	796	732
Advertising	345	326	1,030	797
Loss on prepayment of borrowings			45
Other expenses	2,295	2,106	6,304	5,765
Total non-interest expense	14,018	12,853	41,019	37,412
Income before income taxes	8,142	2,589	23,509	7,737
Income tax provision	2,106	488	6,030	1,535
Net income	$ 6,036	$ 2,101	$ 17,479	$ 6,202
Earnings per common share:
Basic earnings per share	$ 0.27	$ 0.08	$ 0.74	$ 0.25
Weighted average basic shares outstanding	22,620,387	24,945,670	23,602,978	25,145,411
Diluted earnings per share	$ 0.27	$ 0.08	$ 0.74	$ 0.25
Weighted average diluted shares outstanding	22,714,429	24,945,670	23,670,347	25,163,005
Dividends per share	$ 0.05	$ 0.05	$ 0.15	$ 0.15

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Net income		$ 6,036	$ 2,101	$ 17,479	$ 6,202
Unrealized gains (losses) on available-for-sale securities:
Unrealized holding (loss) gains		(939)	(1,059)	(4,701)	3,490
Reclassification adjustment for net (gains) losses realized in income	[1]	(2)	(1,929)	72	(1,965)
Unrealized (losses) gains		(941)	(2,988)	(4,629)	1,525
Tax effect		238	746	1,154	(367)
Net-of-tax amount		(703)	(2,242)	(3,475)	1,158
Cash flow hedges:
Change in fair value of derivatives used for cash flow hedges			(14)		(1,254)
Reclassification adjustment for loss realized in income for interest rate swap termination	[2]		2,353	402	2,353
Reclassification adjustment for loss realized in interest expense	[3]		257		674
Reclassification adjustment for termination fee realized in interest expense	[4]		186	282	677
Unrealized gains on cash flow hedges			2,782	684	2,450
Tax effect			(782)	(192)	(689)
Net-of-tax amount			2,000	492	1,761
Defined benefit pension plan:
Amortization of defined benefit plan actuarial loss		234	99	701	296
Tax effect		(66)	(28)	(197)	(83)
Net-of-tax amount		168	71	504	213
Other comprehensive income (loss)		(535)	(171)	(2,479)	3,132
Comprehensive income		$ 5,501	$ 1,930	$ 15,000	$ 9,334
[1]	Realized gains and losses on available-for-sale securities are recognized as a component of non-interest income. The tax effects applicable to net realized gains and losses were $1,000 and $494,000 for the three months ended September 30, 2021 and 2020.   The tax effects applicable to net realized gains and losses were $15,000 and $502,000 for the nine months ended September 30, 2021 and 2020, respectively.
[2]	Loss realized in income on interest rate swap termination is recognized as a component of non-interest income.  Income tax effects associated with the reclassification adjustments were $113,000 and $661,000 for the nine months ended September 30, 2021 and 2020.
[3]	Loss realized in interest expense on derivative instruments is recognized as a component of interest expense on long-term debt.  Income tax effects associated with the reclassification adjustments were $72,000 for the three months ended September 30, 2020.  Income tax effects associated with the reclassification adjustments were $189,000 for the nine months ended September 30, 2020.
[4]	Loss for termination fee realized in interest expense on derivative instruments is recognized as a component of interest expense on long-term debt.  Income tax effects associated with the reclassification adjustments were $52,000 for the three months ended September 30, 2020.  Income tax effects associated with the reclassification adjustments were $79,000 and $190,000 for the nine months ended September 30, 2021 and 2020, respectively.

CONSOLIDATED STATEMENTS OF CO_2

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Income tax effects applicable to net realized gains and losses on available-for-sale securities	$ 1,000	$ 494,000	$ 15,000	$ 502,000
Income tax effects associated with reclassification adjustment for interest rate swap termination			113,000	661,000
Income tax effects associated with reclassification adjustment for loss realized in interest expense		72,000		189,000
Income tax benefit on termination fee on derivative instruments		$ 52,000	$ 79,000	$ 190,000

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Unearned Compensation - ESOP [Member]	Unearned Compensation Equity Incentive Plan [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 266	$ 164,248	$ (4,574)	$ (1,124)	$ 82,176	$ (8,968)	$ 232,024
Beginning balance, shares at Dec. 31, 2019	26,557,981
Comprehensive income					2,080	2,700	4,780
Common stock held by ESOP committed to be released		47	144				191
Share-based compensation - equity incentive plan				182			182
Forfeited equity incentive plan shares reissued		(186)		186
Common stock repurchased	$ (11)	(8,069)					(8,080)
Common stock repurchased (in shares)	(1,015,055)
Issuance of common stock in connection with equity incentive plan	$ 1	1,093		(1,094)
Issuance of common stock in connection with equity incentive plan (shares)	101,408
Cash dividends declared and paid on common stock ($0.05 per share)					(1,288)		(1,288)
Ending balance, value at Mar. 31, 2020	$ 256	157,133	(4,430)	(1,850)	82,968	(6,268)	227,809
Ending balance, shares at Mar. 31, 2020	25,644,334
Beginning balance, value at Dec. 31, 2019	$ 266	164,248	(4,574)	(1,124)	82,176	(8,968)	232,024
Beginning balance, shares at Dec. 31, 2019	26,557,981
Comprehensive income							9,334
Ending balance, value at Sep. 30, 2020	$ 256	156,815	(4,141)	(1,460)	84,587	(5,836)	230,221
Ending balance, shares at Sep. 30, 2020	25,595,557
Beginning balance, value at Mar. 31, 2020	$ 256	157,133	(4,430)	(1,850)	82,968	(6,268)	227,809
Beginning balance, shares at Mar. 31, 2020	25,644,334
Comprehensive income					2,021	603	2,624
Common stock held by ESOP committed to be released		(1)	144				143
Share-based compensation - equity incentive plan				195			195
Cash dividends declared and paid on common stock ($0.05 per share)					(1,251)		(1,251)
Ending balance, value at Jun. 30, 2020	$ 256	157,132	(4,286)	(1,655)	83,738	(5,665)	229,520
Ending balance, shares at Jun. 30, 2020	25,644,334
Comprehensive income					2,101	(171)	1,930
Common stock held by ESOP committed to be released		(34)	145				111
Share-based compensation - equity incentive plan				195			195
Common stock repurchased		(283)					(283)
Common stock repurchased (in shares)	(48,777)
Cash dividends declared and paid on common stock ($0.05 per share)					(1,252)		(1,252)
Ending balance, value at Sep. 30, 2020	$ 256	156,815	(4,141)	(1,460)	84,587	(5,836)	230,221
Ending balance, shares at Sep. 30, 2020	25,595,557
Beginning balance, value at Dec. 31, 2020	$ 253	154,549	(3,997)	(1,240)	88,354	(11,279)	226,640
Beginning balance, shares at Dec. 31, 2020	25,276,193
Comprehensive income					5,791	(3,057)	2,734
Common stock held by ESOP committed to be released		8	139				147
Share-based compensation - equity incentive plan				231			231
Forfeited equity incentive plan shares reissued		(212)		212
Common stock repurchased	$ (7)	(5,770)					(5,777)
Common stock repurchased (in shares)	(711,635)
Issuance of common stock in connection with stock option exercises		113					113
Issuance of common stock in connection with stock option exercises (shares)	19,400
Issuance of common stock in connection with equity incentive plan		162		(162)
Cash dividends declared and paid on common stock ($0.05 per share)					(1,232)		(1,232)
Ending balance, value at Mar. 31, 2021	$ 246	148,850	(3,858)	(959)	92,913	(14,336)	222,856
Ending balance, shares at Mar. 31, 2021	24,583,958
Beginning balance, value at Dec. 31, 2020	$ 253	154,549	(3,997)	(1,240)	88,354	(11,279)	226,640
Beginning balance, shares at Dec. 31, 2020	25,276,193
Comprehensive income							$ 15,000
Issuance of common stock in connection with stock option exercises (shares)							19,400
Ending balance, value at Sep. 30, 2021	$ 228	134,556	(3,580)	(1,362)	102,258	(13,758)	$ 218,342
Ending balance, shares at Sep. 30, 2021	22,848,781
Beginning balance, value at Mar. 31, 2021	$ 246	148,850	(3,858)	(959)	92,913	(14,336)	222,856
Beginning balance, shares at Mar. 31, 2021	24,583,958
Comprehensive income					5,652	1,113	6,765
Common stock held by ESOP committed to be released		27	139				166
Share-based compensation - equity incentive plan				380			380
Common stock repurchased	$ (6)	(5,295)					(5,301)
Common stock repurchased (in shares)	(635,921)
Issuance of common stock in connection with equity incentive plan	$ 1	1,020		(1,021)
Issuance of common stock in connection with equity incentive plan (shares)	122,362
Cash dividends declared and paid on common stock ($0.05 per share)					(1,195)		(1,195)
Ending balance, value at Jun. 30, 2021	$ 241	144,602	(3,719)	(1,600)	97,370	(13,223)	223,671
Ending balance, shares at Jun. 30, 2021	24,070,399
Comprehensive income					6,036	(535)	5,501
Common stock held by ESOP committed to be released		35	139				174
Share-based compensation - equity incentive plan				362			362
Common stock repurchased	$ (13)	(10,205)					(10,218)
Common stock repurchased (in shares)	(1,221,618)
Issuance of common stock in connection with equity incentive plan		124		(124)
Cash dividends declared and paid on common stock ($0.05 per share)					(1,148)		(1,148)
Ending balance, value at Sep. 30, 2021	$ 228	$ 134,556	$ (3,580)	$ (1,362)	$ 102,258	$ (13,758)	$ 218,342
Ending balance, shares at Sep. 30, 2021	22,848,781

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED (Parenthetical) - $ / shares	3 Months Ended
	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2020	Jun. 30, 2020	Mar. 31, 2020
Statement of Stockholders' Equity [Abstract]
Common stock held by ESOP committed to be released (shares)	81,893	81,893	81,893	85,101	85,101	85,101
Forfeited equity incentive plan shares reissued (in shares)			19,086			18,645
Issuance of common stock in connection with equity incentive plan (in shares)	12,717		19,827
Cash dividends declared and paid on common stock (per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05	$ 0.05

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
OPERATING ACTIVITIES:
Net income	$ 17,479	$ 6,202
Adjustments to reconcile net income to net cash provided by operating activities:
(Credit) provision for loan losses	(1,225)	7,275
Depreciation and amortization of premises and equipment	1,739	1,560
Amortization (accretion) of purchase accounting adjustments, net	53	(16)
Amortization of core deposit intangible	281	281
Net amortization of premiums and discounts on securities and mortgage loans	1,719	1,908
Amortization of subordinated debt issuance costs	17
Share-based compensation expense	973	572
ESOP expense	487	445
Gain on sale of portfolio mortgages	(227)
Principal balance of loans originated for sale	(32,383)
Principal balance of loans sold	32,383
Net change in unrealized loss (gains) on marketable equity securities	72	(133)
Net loss (gain) on available-for-sale securities	72	(1,965)
Income from bank-owned life insurance	(1,426)	(1,365)
Net change in:
Accrued interest receivable	546	(2,424)
Other assets	(5,277)	(239)
Other liabilities	3,256	5,114
Net cash provided by operating activities	18,539	17,215
Securities, held-to-maturity:
Purchases	(157,405)
Proceeds from calls, maturities, and principal collections	2,832
Securities, available for sale:
Purchases	(65,291)	(70,422)
Proceeds from redemptions and sales	9,562	96,320
Proceeds from calls, maturities, and principal collections	43,433	69,060
Loan originations and principal payments, net	73,327	(199,289)
Redemption of Federal Home Loan Bank of Boston stock	2,462	5,225
Proceeds from sale of portfolio mortgages	7,801
Purchases of premises and equipment	(1,623)	(3,011)
Proceeds from sale of premises and equipment		66
Net cash used in investing activities	(84,902)	(102,051)
FINANCING ACTIVITIES:
Net increase in deposits	186,738	333,464
Net change in short-term borrowings		(35,000)
Repayment of long-term debt	(54,011)	(100,639)
Proceeds from issuance of long-term debt		46,417
Proceeds from subordinated debt issuance	20,000
Payment of subordinated debt issuance costs	(394)
Cash dividends paid	(3,575)	(3,791)
Common stock repurchased	(21,456)	(8,244)
Issuance of common stock in connection with stock option exercise	113
Net cash provided by financing activities	127,415	232,207
NET CHANGE IN CASH AND CASH EQUIVALENTS:	61,052	147,371
Beginning of period	87,444	24,741
End of period	148,496	172,112
Supplemental cash flow information:
Net change in cash due to broker	(160)	57,226
Interest paid	5,406	15,773
Taxes paid	$ 5,476	$ 6,213

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations and Basis of Presentation The Bank operates 25 Wholly-owned Subsidiaries of the Bank Principles of Consolidation Estimates Basis of Presentation These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2020, included in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”). Reclassifications

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2021
Earnings per common share:
EARNINGS PER SHARE	2. EARNINGS PER SHARE Basic earnings per share represents income available to common shareholders divided by the weighted-average number of common shares outstanding during the period. If rights to dividends on unvested awards are non-forfeitable, these unvested awards are considered outstanding in the computation of basic earnings per share. Diluted earnings per share reflect additional common shares that would have been outstanding if dilutive potential common shares had been issued, as well as any adjustment to income that would result from the assumed issuance. Potential common shares that may be issued by us relate to stock options and certain performance-based restricted stock awards and are determined using the treasury stock method. Unallocated Employee Stock Ownership Plan (“ESOP”) shares are not deemed outstanding for earnings per share calculations. Earnings per common share for the three and nine months ended September 30, 2021 and 2020 have been computed based on the following: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands, except per share data) Net income applicable to common stock $ 6,036 $ 2,101 $ 17,479 $ 6,202 Average number of common shares issued 23,255 25,641 24,232 25,859 Less: Average unallocated ESOP Shares (486 ) (569 ) (506 ) (590 ) Less: Average unvested performance-based equity incentive plan shares (149 ) (126 ) (123 ) (123 ) Average number of common shares outstanding used to calculate basic earnings per common share 22,620 24,946 23,603 25,146 Effect of dilutive performance-based equity incentive plan 52 — 30 — Effect of dilutive stock options 42 — 37 18 Average number of common shares outstanding used to calculate diluted earnings per common share 22,714 24,946 23,670 25,164 Basic earnings per share $ 0.27 $ 0.08 $ 0.74 $ 0.25 Diluted earnings per share $ 0.27 $ 0.08 $ 0.74 $ 0.25 Anti-dilutive shares (1) — 344 — 344 (1) Shares outstanding but not included because the impact of these shares would be anti-dilutive to the earnings per share calculation for the periods presented.

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
COMPREHENSIVE INCOME (LOSS)	3. COMPREHENSIVE INCOME (LOSS) Accounting principles generally require that recognized revenue, expenses, gains and losses be included in net income. Although certain changes in assets and liabilities are reported as a separate component of the equity section of the balance sheet, such items, along with net income, are components of comprehensive income (loss). The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: September 30, 2021 December 31, 2020 (In thousands) Net unrealized (losses) gains on securities available-for-sale $ (3,327 ) $ 1,302 Tax effect 815 (339 ) Net-of-tax amount (2,512 ) 963 Losses on terminated cash flow hedges — (684 ) Tax effect — 192 Net-of-tax amount — (492 ) Unrecognized actuarial loss on the defined benefit plan (15,643 ) (16,344 ) Tax effect 4,397 4,594 Net-of-tax amount (11,246 ) (11,750 ) Accumulated other comprehensive loss $ (13,758 ) $ (11,279 )

SECURITIES

SECURITIES	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
SECURITIES	4. SECURITIES Available-for-sale and held-to-maturity investment securities are summarized as follows: September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,899 $ — $ (679 ) $ 14,220 State and municipal bonds 405 1 — 406 Corporate bonds 3,029 68 — 3,097 Total debt securities 18,333 69 (679 ) 17,723 Mortgage-backed securities: Government-sponsored mortgage-backed securities 182,342 657 (2,862 ) 180,137 U.S. government guaranteed mortgage-backed securities 10,682 14 (526 ) 10,170 Total mortgage-backed securities 193,024 671 (3,388 ) 190,307 Total available-for-sale 211,357 740 (4,067 ) 208,030 Held-to-maturity securities: Mortgage-backed securities: Government-sponsored mortgage-backed securities 154,403 75 (1,154 ) 153,324 Total held-to-maturity 154,403 75 (1,154 ) 153,324 Total $ 365,760 $ 815 $ (5,221 ) $ 361,354 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,871 $ 15 $ (111 ) $ 14,775 State and municipal bonds 405 1 — 406 Corporate bonds 3,039 36 — 3,075 Total debt securities 18,315 52 (111 ) 18,256 Mortgage-backed securities: Government-sponsored mortgage-backed securities 161,290 1,742 (303 ) 162,729 U.S. government guaranteed mortgage-backed securities 20,973 108 (186 ) 20,895 Total mortgage-backed securities 182,263 1,850 (489 ) 183,624 Total available-for-sale $ 200,578 $ 1,902 $ (600 ) $ 201,880 At September 30, 2021, government-sponsored enterprise obligations with a fair value of $ 9.5 million 53.2 million The amortized cost and fair value of available-for-sale debt securities at September 30, 2021, by final maturity, are shown below. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Debt securities: Due after one year through five years $ 3,434 $ 3,503 $ — $ — Due after five years through ten years 9,899 9,554 — — Due after ten years 5,000 4,666 — — Total debt securities 18,333 17,723 — — Mortgage-backed securities: Due after five years through ten years 2,115 2,128 — — Due after ten years 190,909 188,179 154,403 153,324 Total mortgage-backed securities 193,024 190,307 154,403 153,324 Total securities $ 211,357 $ 208,030 $ 154,403 $ 153,324 Gross realized gains and losses on sales of available-for-sale securities for the three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Gross gains realized $ 12 $ 1,944 $ 12 $ 2,187 Gross losses realized (10 ) (15 ) (84 ) (222 ) Net (loss) gain realized $ 2 $ 1,929 $ (72 ) $ 1,965 Proceeds from the sale and redemption of available-for-sale securities amounted to $ 9.6 96.3 Information pertaining to securities with gross unrealized losses at September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: September 30, 2021 Less Than Twelve Months Over Twelve Months Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Available-for-sale: Government-sponsored mortgage-backed securities 31 $ 137,747 $ 2,373 1.8 % 13 $ 13,262 $ 489 3.8 % U.S. government guaranteed mortgage-backed securities 2 2,737 129 4.9 5 5,848 397 7.3 Government-sponsored enterprise obligations 2 9,554 345 3.7 1 4,667 334 7.7 Total available-for-sale 35 150,038 2,847 19 23,777 1,220 Held-to-maturity: Government-sponsored mortgage-backed securities 19 123,750 1,154 0.9 % — — — — % Total held-to-maturity 19 123,750 1,154 — — — Total 54 $ 273,788 $ 4,001 19 $ 23,777 $ 1,220 December 31, 2020 Less Than Twelve Months Over Twelve Months Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Government-sponsored mortgage-backed securities 16 $ 27,091 $ 225 0.8 % 2 $ 1,815 $ 78 4.1 % U.S. government guaranteed mortgage-backed securities 3 10,458 75 0.7 2 2,393 111 4.4 Government-sponsored enterprise obligations 2 9,868 111 1.1 — — — — 21 $ 47,417 $ 411 4 $ 4,208 $ 189 During the nine months ended September 30, 2021 and year ended December 31, 2020, the Company did not record any other-than-temporary impairment (“OTTI”) charges on its investments. Management regularly reviews the portfolio for securities with unrealized losses. At September 30, 2021, the unrealized losses were attributed to increases in current market yields compared to the yields at the time the investments were purchased by the Company and not due to credit quality. The process for assessing investments for OTTI may vary depending on the type of security. In assessing the Company's investments in government-sponsored and U.S. government guaranteed mortgage-backed securities and government-sponsored enterprise obligations, the contractual cash flows of these investments are guaranteed by the respective government-sponsored enterprise; Federal Home Loan Mortgage Corporation (“FHLMC”), Federal National Mortgage Association (“FNMA”), Federal Farm Credit Bank (“FFCB”), or Federal Home Loan Bank (“FHLB”). Accordingly, it is expected that the securities would not be settled at a price less than the par value of the Company's investments. Management's assessment of other debt securities within the portfolio includes reviews of market pricing, ongoing credit quality evaluations, assessment of the investments' materiality, and duration of the investments' unrealized loss position.

LOANS AND ALLOWANCE FOR LOAN LO

LOANS AND ALLOWANCE FOR LOAN LOSSES	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
LOANS AND ALLOWANCE FOR LOAN LOSSES	5. LOANS AND ALLOWANCE FOR LOAN LOSSES Major classifications of loans at the periods indicated were as follows: September 30, December 31, 2021 2020 (In thousands) Commercial real estate $ 917,630 $ 833,949 Residential real estate: Residential one-to-four family 565,912 604,719 Home equity 97,734 103,905 Total residential real estate 663,646 708,624 Commercial and industrial: Paycheck protection program (“PPP”) loans 58,904 167,258 Commercial and industrial 200,526 211,823 Total commercial and industrial 259,430 379,081 Consumer 4,414 5,192 Total gross loans 1,845,120 1,926,846 Unamortized PPP loan fees (1,623 ) (3,050 ) Unearned premiums and deferred loan fees and costs, net 2,653 3,587 Total loans, net 1,846,150 1,927,383 Allowance for loan losses (19,837 ) (21,157 ) Net loans $ 1,826,313 $ 1,906,226 Loans Serviced for Others. The Company has transferred a portion of its originated commercial loans to participating lenders. The amounts transferred have been accounted for as sales and are therefore not included in our accompanying consolidated balance sheets. We continue to service the loans on behalf of the participating lenders. We share with participating lenders, on a pro-rata basis, any gains or losses that may result from a borrower’s lack of compliance with contractual terms of the loan. At September 30, 2021 and December 31, 2020, the Company was servicing commercial loans participated out to various other institutions totaling $ 53.1 million 52.9 million Residential real estate mortgages are originated by the Bank both for its portfolio and for sale into the secondary market. The Bank may sell its loans to institutional investors such as the FHLMC. Under loan sale and servicing agreements with the investor, the Bank generally continues to service the residential real estate mortgages. The Bank pays the investor an agreed upon rate on the loan, which is less than the interest rate received from the borrower. The Bank retains the difference as a fee for servicing the residential real estate mortgages. The Bank capitalizes mortgage servicing rights at their fair value upon sale of the related loans, amortizes the asset over the estimated life of the serviced loan, and periodically assesses the asset for impairment. The significant assumptions used by a third party to estimate the fair value of capitalized servicing rights at September 30, 2021, included weighted average prepayment speed for the portfolio using the Public Securities Association Standard Prepayment Model ( 180 9.02 0.25 83.77 40 1.1 million At September 30, 2021 and December 31, 2020, the Company serviced residential mortgage loans owned by investors totaling $ 71 38.1 88,000 85,000 A summary of the activity in the balances of mortgage servicing rights follows: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (In thousands) Balance at the beginning of period: $ 243 $ 153 Capitalized mortgage servicing rights 295 417 Amortization (23 ) (55 ) Balance at the end of period $ 515 $ 515 Fair value at the end of period $ 561 $ 561 Loans are recorded at the principal amount outstanding, adjusted for charge-offs, unearned premiums and deferred loan fees and costs. Interest on loans is calculated using the effective yield method on daily balances of the principal amount outstanding and is credited to income on the accrual basis to the extent it is deemed collectable. Our general policy is to discontinue the accrual of interest when principal or interest payments are delinquent 90 days or more based on the contractual terms of the loan, or earlier if the loan is considered impaired. Any unpaid amounts previously accrued on these loans are reversed from income. Subsequent cash receipts are applied to the outstanding principal balance or to interest income if, in the judgment of management, collection of the principal balance is not in question. Loans are returned to accrual status when they become current as to both principal and interest and perform in accordance with contractual terms for a period of at least six months, reducing the concern as to the collectability of principal and interest. Loan fees and certain direct loan origination costs are deferred, and the net fee or cost is recognized as an adjustment to interest income over the estimated average lives of the related loans. The allowance for loan losses is established through provisions for loan losses charged to expense. Loans are charged-off against the allowance when management believes that the collectability of the principal is unlikely. Subsequent recoveries, if any, are credited to the allowance. The allowance for loan losses is evaluated on a regular basis by management. This evaluation is inherently subjective as it requires estimates that are susceptible to significant revision as more information becomes available. The allowance consists of general, allocated, and unallocated components, as further described below. General component The general component of the allowance for loan losses is based on historical loss experience adjusted for qualitative factors stratified by the following loan segments: residential real estate (includes one-to-four family and home equity), commercial real estate, commercial and industrial, and consumer. Management uses a rolling average of historical losses based on a time frame appropriate to capture relevant loss data for each loan segment. This historical loss factor is adjusted for the following qualitative factors: trends in delinquencies and nonperforming loans; trends in volume and terms of loans; effects of changes in risk selection and underwriting standards and other changes in lending policies, procedures and practices; and national and local economic trends and industry conditions. There were no changes to the Company’s policies and procedures surrounding the allowance for loan losses during the nine months ended September 30, 2021. Beginning in March 2020, the Bank added a new qualitative factor category to the allowance calculation – “Economic Impact of COVID-19”. The allocation of additional reserves for the COVID-19 qualitative factor at March 31, 2020 was based upon an analysis of the loan portfolio that included identifying borrowers sensitive to the shutdown (i.e. accommodation and food service, recreation, construction, manufacturing, and wholesale & retail trade). In addition, during the year ended December 31, 2020, the Company determined that it was prudent to provide an allowance for loan losses related to the loan portfolio acquired on October 24, 2016 from Chicopee Bancorp, Inc. (“Chicopee”) due to the ongoing impacts and extended nature of the pandemic. The qualitative factors are determined based on the various risk characteristics of each loan segment. Risk characteristics relevant to each portfolio segment are as follows: Residential real estate 80 80 Commercial real estate . Commercial and industrial loans Consumer loans Allocated component The allocated component relates to loans that are classified as impaired. Impaired loans are identified by analysis of loan performance, internal credit ratings and watch list loans that management believes are subject to a higher risk of loss. Impairment is measured on a loan by loan basis for commercial real estate and commercial and industrial loans by either the present value of expected future cash flows discounted at the loan’s effective interest rate or the fair value of the collateral if the loan is collateral dependent. An allowance is established when the discounted cash flows (or collateral value) of the impaired loan is lower than the carrying value of that loan. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Accordingly, we do not separately identify individual consumer and residential real estate loans for impairment disclosures, unless such loans are subject to a troubled debt restructuring agreement. A loan is considered impaired when, based on current information and events, it is probable that we will be unable to collect the scheduled payments of principal or interest when due according to the contractual terms of the loan agreement. Factors considered by management in determining impairment include payment status, collateral value, and the probability of collecting scheduled principal and interest payments when due. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of the delay, the reasons for the delay, the borrower’s prior payment record, and the amount of the shortfall in relation to the principal and interest owed. The extent to which COVID-19 impacts our borrower’s ability to repay and therefore the classification of a loan as impaired is highly uncertain and cannot be predicted with confidence as it is highly dependent upon the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures. Unallocated component An unallocated component may be maintained to cover uncertainties that could affect management’s estimate of probable losses. The unallocated component of the allowance, if any, reflects the margin of imprecision inherent in the underlying assumptions used in the methodologies for estimating allocated and general reserves in the portfolio. An analysis of changes in the allowance for loan losses by segment for the nine months ended September 30, 2021 and 2020 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Three Months Ended Balance at June 30, 2020 $ 10,271 $ 4,167 $ 3,564 $ 237 $ 14 $ 18,253 Provision (credit) 2,103 117 458 50 (3 ) 2,725 Charge-offs — (26 ) (325 ) (37 ) — (388 ) Recoveries 58 1 37 6 — 102 Balance at September 30, 2020 $ 12,432 $ 4,259 $ 3,734 $ 256 $ 11 $ 20,692 Balance at June 30, 2021 $ 12,129 $ 4,102 $ 3,410 $ 214 $ 15 $ 19,870 Provision (credit) 524 (176 ) (456 ) 18 (10 ) (100 ) Charge-offs — (3 ) — (35 ) — (38 ) Recoveries 6 87 3 9 — 105 Balance at September 30, 2021 $ 12,659 $ 4,010 $ 2,957 $ 206 $ 5 $ 19,837 Nine Months Ended Balance at December 31, 2019 $ 6,807 $ 3,920 $ 3,183 $ 203 $ (11 ) $ 14,102 Provision 5,674 406 1,057 116 22 7,275 Charge-offs (107 ) (135 ) (544 ) (96 ) — (882 ) Recoveries 58 68 38 33 — 197 Balance at September 30, 2020 $ 12,432 $ 4,259 $ 3,734 $ 256 $ 11 $ 20,692 Balance at December 31, 2020 $ 13,020 $ 4,240 $ 3,630 $ 241 $ 26 $ 21,157 Provision (credit) (265 ) (283 ) (665 ) 9 (21 ) (1,225 ) Charge-offs (103 ) (43 ) (34 ) (82 ) — (262 ) Recoveries 7 96 26 38 — 167 Balance at September 30, 2021 $ 12,659 $ 4,010 $ 2,957 $ 206 $ 5 $ 19,837 The following table presents information pertaining to the allowance for loan losses by segment, excluding PPP loans, for the dates indicated: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) September 30, 2021 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 12,659 4,010 2,957 206 5 19,837 Total allowance for loan losses $ 12,659 $ 4,010 $ 2,957 $ 206 $ 5 $ 19,837 Impaired loans $ 9,748 $ 3,568 $ 812 $ 23 $ — $ 14,151 Non-impaired loans 902,942 658,306 199,338 4,391 — 1,764,977 Impaired loans acquired with deteriorated credit quality 4,940 1,772 376 — — 7,088 Total loans $ 917,630 $ 663,646 $ 200,526 $ 4,414 $ — $ 1,786,216 December 31, 2020 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 13,020 4,240 3,630 241 26 21,157 Total allowance for loan losses $ 13,020 $ 4,240 $ 3,630 $ 241 $ 26 $ 21,157 Impaired loans $ 11,803 $ 4,363 $ 4,439 $ 27 $ — $ 20,632 Non-impaired loans 816,406 701,915 207,002 5,165 — 1,730,488 Impaired loans acquired with deteriorated credit quality 5,740 2,346 382 — — 8,468 Total loans $ 833,949 $ 708,624 $ 211,823 $ 5,192 $ — $ 1,759,588 Past Due and Nonaccrual Loans. The following tables present an age analysis of past due loans, excluding PPP loans, as of the dates indicated: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days or More Past Due Total Past Due Loans Total Current Loans Total Loans Nonaccrual Loans (In thousands) September 30, 2021 Commercial real estate $ 238 $ 1 $ 499 $ 738 $ 916,892 $ 917,630 $ 1,255 Residential real estate: Residential one-to-four family 878 129 860 1,867 564,045 565,912 3,626 Home equity 25 — 87 112 97,622 97,734 154 Commercial and industrial 329 — — 329 200,197 200,526 574 Consumer 4 15 — 19 4,395 4,414 23 Total loans $ 1,474 $ 145 $ 1,446 $ 3,065 $ 1,783,151 $ 1,786,216 $ 5,632 December 31, 2020 Commercial real estate $ 5,844 $ 3,144 $ 1,256 $ 10,244 $ 823,705 $ 833,949 $ 1,632 Residential real estate: Residential one-to-four family 1,684 360 707 2,751 601,968 604,719 5,353 Home equity 25 — — 25 103,880 103,905 124 Commercial and industrial 166 158 156 480 211,343 211,823 705 Consumer 22 — — 22 5,170 5,192 27 Total loans $ 7,741 $ 3,662 $ 2,119 $ 13,522 $ 1,746,066 $ 1,759,588 $ 7,841 Impaired Loans. The following is a summary of impaired loans by class: Three Months Ended Nine Months Ended At September 30, 2021 September 30, 2021 September 30, 2021 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 14,688 $ 15,849 $ 14,900 $ 72 $ 16,163 $ 377 Residential one-to-four family 5,167 6,107 5,445 30 5,916 197 Home equity 173 207 162 3 146 7 Commercial and industrial 1,188 3,691 1,214 20 3,026 110 Consumer 23 38 24 3 25 3 Total impaired loans $ 21,239 $ 25,892 $ 21,745 $ 128 $ 25,276 $ 694 Three Months Ended Nine Months Ended At December 31, 2020 September 30, 2020 September 30, 2020 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 17,543 $ 18,590 $ 19,709 $ 169 $ 18,361 $ 369 Residential one-to-four family 6,544 7,647 5,728 14 5,655 53 Home equity 165 207 384 1 413 4 Commercial and industrial 4,821 7,038 6,072 120 3,720 196 Consumer 27 39 32 — 36 — Total impaired loans $ 29,100 $ 33,521 $ 31,925 $ 304 $ 28,185 $ 622 (1) Includes loans acquired with deteriorated credit quality and performing troubled debt restructurings. With the exception of loans acquired with deteriorated credit quality, the majority of impaired loans are included within the nonaccrual balances; however, not every loan on nonaccrual status has been designated as impaired. Impaired loans include loans that have been modified in a troubled debt restructuring (“TDR”). Impaired loans are individually evaluated and exclude large groups of smaller-balance homogeneous loans, such as residential mortgage loans and consumer loans, which are collectively evaluated for impairment, and loans that are measured at fair value, unless the loan is amended in a TDR. All payments received on impaired loans in nonaccrual status are applied to principal. There was no interest income recognized on nonaccrual impaired loans during the three and nine months ended September 30, 2021 and 2020. The Company's obligation to fulfill the additional funding commitments on impaired loans is generally contingent on the borrower's compliance with the terms of the credit agreement. If the borrower is not in compliance, additional funding commitments may or may not be made at the Company's discretion. At September 30, 2021, we had not committed to lend any additional funds for loans that are classified as impaired. Interest income recognized on impaired loans during the three and nine months ended September 30, 2021 and 2020 pertained to performing TDRs and purchased impaired loans. Troubled Debt Restructurings. Loans are designated as a TDR when, as part of an agreement to modify the original contractual terms of the loan as a result of financial difficulties of the borrower, the Bank grants the borrower a concession on the terms that would not otherwise be considered. Typically, such concessions may consist of a reduction in interest rate to a below market rate, taking into account the credit quality of the note, extension of additional credit based on receipt of adequate collateral, or a deferment or reduction of payments (principal or interest) which materially alters the Bank's position or significantly extends the note's maturity date, such that the present value of cash flows to be received is materially less than those contractually established at the loan's origination. All loans that are modified are reviewed by the Company to identify if a TDR has occurred. All TDR loans are classified as impaired. When we modify loans in a TDR, we measure impairment similar to other impaired loans based on the present value of expected future cash flows, discounted at the contractual interest rate of the original loan agreement, or use the current fair value of the collateral, less selling costs for collateral dependent loans. If we determine that the value of the modified loan is less than the recorded investment in the loan (net of previous charge-offs, deferred loan fees or costs and unamortized premium or discount), impairment is recognized through a specific allowance or a charge-off to the allowance. Nonperforming TDRs are included in nonperforming loans. There were no loan modifications classified as TDRs during the three and nine months ended September 30, 2021. During the three and nine months ended September 30, 2021 and 2020, no TDRs defaulted (defined as 30 days or more past due) within 12 months of restructuring. There were no charge-offs on TDRs during the three and nine months ended September 30, 2021 and 2020. Loans Acquired with Deteriorated Credit Quality. The following is a summary of loans acquired in the Chicopee acquisition with evidence of credit deterioration as of September 30, 2021. Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at December 31, 2020 $ 14,297 $ 11,485 $ 2,812 $ 3,017 $ 8,468 Collections (1,712 ) (1,635 ) (77 ) (258 ) (1,377 ) Dispositions (177 ) (175 ) (2 ) (172 ) (3 ) Balance at September 30, 2021 $ 12,408 $ 9,675 $ 2,733 $ 2,587 $ 7,088 Credit Quality Information. The Company utilizes an eight-grade internal loan rating system for commercial real estate and commercial and industrial loans. Performing residential real estate, home equity and consumer loans are grouped with “Pass” rated loans. Nonperforming residential real estate, home equity and consumer loans are monitored individually for impairment and risk rated as “substandard.” Loans rated 1 – 4 Loans rated 5 Loans rated 6 Loans rated 7 Loans rated 8 On an annual basis, or more often if needed, we formally review the ratings on all commercial real estate and commercial and industrial loans. In addition, management utilizes delinquency reports, the criticized report and other loan reports to monitor credit quality. In addition, at least on an annual basis, the Company contracts with an external loan review company to review the internal credit ratings assigned to loans in the commercial loan portfolio on a pre-determined schedule, based on the type, size, rating, and overall risk of the loan. During the course of its review, the third party examines a sample of loans, including new loans, existing relationships over certain dollar amounts and classified assets. The following table presents our loans by risk rating for the periods indicated: Commercial Real Estate Residential One-to-Four Family Home Equity Commercial and Industrial Consumer Total (In thousands) September 30, 2021 Pass (Rated 1 – 4) $ 843,666 $ 560,972 $ 97,418 $ 242,264 $ 4,391 $ 1,748,711 Special Mention (Rated 5) 54,283 — — 9,905 — 64,188 Substandard (Rated 6) 19,681 4,940 316 7,261 23 32,221 Total $ 917,630 $ 565,912 $ 97,734 $ 259,430 $ 4,414 $ 1,845,120 December 31, 2020 Pass (Rated 1 – 4) $ 726,751 $ 598,250 $ 103,619 $ 345,967 $ 5,165 $ 1,779,752 Special Mention (Rated 5) 78,207 — — 13,871 — 92,078 Substandard (Rated 6) 28,991 6,469 286 19,243 27 55,016 Total $ 833,949 $ 604,719 $ 103,905 $ 379,081 $ 5,192 $ 1,926,846

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	6. GOODWILL AND OTHER INTANGIBLES Goodwill. At September 30, 2021 and December 31, 2020, the Company’s goodwill was related to the acquisition of Chicopee in October 2016. There was no goodwill impairment recorded during the three and nine months ended September 30, 2021 or the year ended December 31, 2020. Annually, or more frequently if events or changes in circumstances warrant such evaluation, the Company evaluates its goodwill for impairment. Core Deposit Intangibles. In connection with the acquisition of Chicopee, the Bank recorded a core deposit intangible of $ 4.5 million twelve years 94,000 281,000 375,000 781,000

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	7. SHARE-BASED COMPENSATION Stock Options. A summary of stock option activity for the nine months ended September 30, 2021 is presented below: Shares Weighted Average Exercise Price Weighted Aggregate Outstanding at December 31, 2020 210,975 $ 6.46 1.67 $ 90 Exercised (19,400 ) 5.85 0.67 43 Outstanding at September 30, 2021 191,575 $ 6.52 1.01 $ 383 Exercisable at September 30, 2021 191,575 $ 6.52 1.01 $ 383 Cash received for options exercised during the nine months ended September 30, 2021 was $ 113,000 Restricted Stock Awards. In May 2014, the Company’s shareholders approved the 2014 Omnibus Incentive Plan, a stock-based compensation plan (the “2014 RSA Plan”). Under the 2014 RSA Plan, up to 516,000 On an annual basis, the Compensation Committee (the “Committee”) approves long-term incentive awards out of the 2014 RSA Plan, whereby shares will be granted to eligible participants of the Company that are nominated by the Chief Executive Officer and approved by the Committee, with vesting over a three-year term one-year In February 2019, there were 108,718 108,718 64,496 20,262 one year 44,234 three-year 44,222 three-year The threshold, target and stretch metrics under the 2019 grants are as follows: Schedule of threshold, target and stretch metrics Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2019 5.75 % 6.13 % 7.00 % December 31, 2020 6.00 % 6.75 % 7.75 % December 31, 2021 6.25 % 7.00 % 8.00 % Eligible participants will be able to earn between 50 100 150 In February 2020, there were 120,053 120,053 69,898 19,760 one year 50,138 three-year 50,155 50 three-year Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2020 5.00 % 5.48 % 6.00 % December 31, 2021 5.62 % 6.24 % 6.86 % December 31, 2022 6.29 % 6.99 % 7.69 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 1.50 $ 1.65 $ 1.80 Eligible participants will be able to earn between 50 100 150 The fair market value of shares awarded is based on the market price at the grant date, recorded as unearned compensation and amortized over the applicable vesting period. Performance-based metrics are monitored on a quarterly basis in order to compare actual results to the performance metric, with any necessary adjustments being recognized through share-based compensation expense and unearned compensation. In February 2021, there were 19,827 one-year In May 2021, the Company’s shareholders approved the 2021 Omnibus Incentive Plan, a stock-based compensation plan (the “2021 RSA Plan”). Under the 2021 RSA Plan, up to 700,000 In May 2021, there were 122,362 122,362 61,181 three-year 61,181 50 three-year three-year Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2021 5.63 % 6.25 % 7.50 % December 31, 2022 5.85 % 6.50 % 7.80 % December 31, 2023 6.08 % 6.75 % 8.10 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 1.58 $ 1.97 $ 2.36 At September 30, 2021, there were 577,638 A summary of the status of restricted stock awards at September 30, 2021 and 2020 is presented below: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2020 178,698 $ 9.63 Shares granted 142,189 8.32 Shares forfeited (19,086 ) 11.05 Shares vested (27,727 ) 9.81 Balance at September 30, 2021 274,074 $ 8.83 Shares Weighted Average Grant Date Fair Value Balance at December 31, 2019 172,866 $ 10.07 Shares granted 101,408 9.11 Shares forfeited (16,803 ) 10.15 Shares vested (41,894 ) 9.54 Shares reissued 18,645 9.11 Balance at September 30, 2020 234,222 $ 9.67 We recorded total expense for restricted stock awards of $ 973,000 572,000

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	9 Months Ended
	Sep. 30, 2021
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	8. SHORT-TERM BORROWINGS AND LONG-TERM DEBT Total borrowing capacity includes borrowing arrangements at the FHLB, the Federal Reserve Bank (“FRB”), and borrowing arrangements with correspondent banks. The Company is a member of the FHLB and uses borrowings as an additional source of funding to finance the Company’s lending and investing activities and to provide liquidity for daily operations. FHLB advances also provide more pricing and option alternatives for particular asset/liability needs. The FHLB provides a central credit facility primarily for member institutions. As an FHLB member, the Company is required to own capital stock of the FHLB, calculated periodically based primarily on its level of borrowings from the FHLB. FHLB borrowings are secured by certain securities from the Company’s investment portfolio not otherwise pledged as well as certain residential real estate and commercial real estate loans. Advances are made under several different credit programs with different lending standards, interest rates and range of maturities. This relationship is an integral component of the Company’s asset-liability management program. At September 30, 2021, the Bank had $ 479.2 million The Company also has an overnight Ideal Way line of credit with the FHLB for $ 9.5 million The Company has an available line of credit of $ 7.7 million The Company also has pre-established, non-collateralized overnight borrowing arrangements with large national and regional correspondent banks to provide additional overnight and short-term borrowing capacity for the Company. The Company has $ 65 Long-term debt consists of FHLB advances with an original maturity of one year or more. At September 30, 2021, we had $ 3.8 million 57.9 million

SUBORDINATED DEBT

SUBORDINATED DEBT	9 Months Ended
	Sep. 30, 2021
Subordinated Debt
SUBORDINATED DEBT	9. SUBORDINATED DEBT On April 20, 2021, the Company completed an offering of $ 20 4.875 Unless earlier redeemed, the Notes mature on May 1, 2031 4.875 90-day average secured overnight financing rate 412 May 1, 2026 The Notes are presented net of issuance costs of $ 377,000 17,000

PENSION BENEFITS

PENSION BENEFITS	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
PENSION BENEFITS	10. PENSION BENEFITS We provide a defined benefit pension plan for eligible employees (the “Plan”). Employees must work a minimum of 1,000 The following table provides information regarding net pension benefit costs for the periods shown: Three Months Ended Nine Months Ended, 2021 2020 2021 2020 (In thousands) Service cost $ 454 $ 357 $ 1,362 $ 1,066 Interest cost 293 293 880 870 Expected return on assets (439 ) (382 ) (1,317 ) (1,146 ) Amortization of actuarial loss 234 99 701 296 Net periodic pension cost $ 542 $ 367 $ 1,626 $ 1,086

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	11. DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives. The Company is exposed to certain risks arising from both our business operations and economic conditions. We principally manage our exposures to a wide variety of business and operational risks through management of our core business activities. We manage economic risks, including interest rate, liquidity, and credit risk, primarily by managing the amount, sources, and duration of our assets and liabilities and the use of derivative financial instruments. Specifically, we entered 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. Our derivative financial instruments are used to manage differences in the amount, timing, and duration of our known or expected cash receipts and our known or expected cash payments principally related to certain variable rate loan assets and variable rate borrowings. The following table presents information about interest rate swaps at September 30, 2021 and December 31, 2020: September 30, 2021 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Non-hedging derivatives: Loan-level swaps – dealer $ 16,093 11.4 1.97 % 3.76 % $ (735 ) Loan-level swaps – borrower 16,093 11.4 3.76 % 1.97 % 735 Forward starting loan-level swaps - dealer 22,390 10.8 1,040 Forward starting loan-level swaps - borrower 22,390 10.8 (1,040 ) Total $ 76,966 $ 0 December 31, 2020 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Non-hedging derivatives: Loan-level swaps – dealer $ 13,554 12.5 1.97 % 3.74 % $ (1,440 ) Loan-level swaps – borrower 13,554 12.5 3.74 % 1.97 % 1,440 Forward starting loan-level swaps - dealer 22,390 11.5 114 Forward starting loan-level swaps - borrower 22,390 11.5 (114 ) Total $ 71,888 $ 0 Cash Flow Hedges of Interest Rate Risk. The Company’s objectives in using interest rate derivatives are to add stability to interest income and expense and to manage its exposure to interest rate movements. To accomplish these objectives, we entered into interest rate swaps as part of our interest rate risk management strategy. These interest rate swaps are designated as cash flow hedges and involve the receipt of variable rate amounts from a counterparty in exchange for our making fixed payments. For derivatives designated as cash flow hedges, the changes in the fair value of the derivative is initially reported in other comprehensive income (outside of earnings), net of tax, and subsequently reclassified to earnings when the hedged transaction affects earnings. We are hedging our exposure to the variability in future cash flows for forecasted transactions over a maximum period of six years (excluding forecasted payment of variable interest on existing financial instruments). Non-hedging Derivatives. Derivatives not designated as hedges are not speculative, but rather result from a service the Company provides to certain customers. The Company executes loan-level derivative products such as interest-rate swap agreements with commercial banking customers to aid them in managing their interest-rate risk by converting floating-rate loan payments to fixed-rate loan payments. The Company concurrently enters into offsetting swaps with a third-party financial institution, effectively minimizing the Company’s net risk exposure resulting from such transactions. The third-party financial institution exchanges the customer's fixed-rate loan payments for floating-rate loan payments. As the interest-rate swap agreements associated with this program do not meet hedge accounting requirements, changes in the fair value are recognized directly in earnings. Fair Values of Derivative Instruments on the Balance Sheet. The table below presents the fair value of our derivative financial instruments designated as hedging and non-hedging instruments as well as our classification on the balance sheet as of September 30, 2021 and December 31, 2020. September 30, 2021 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives not designated as hedging instruments: Interest rate swap – with customers Other Assets $ 735 Other Liabilities $ 1,040 Interest rate swap – with counterparties 1,040 735 Total derivatives not designated as hedging instruments $ 1,775 $ 1,775 December 31, 2020 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives not designated as hedging instruments: Interest rate swap – with customers Other Assets $ 1,440 Other Liabilities $ 114 Interest rate swap – with counterparties 114 1,440 Total derivatives not designated as hedging instruments $ 1,554 $ 1,554 Effect of Derivative Instruments in the Consolidated Statements of Net Income and Changes in Shareholders’ Equity. The table below presents the pre-tax net losses of our cash flow hedges for the periods indicated: Amount of Gain (Loss) Recognized in OCI on Derivative Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Interest rate swaps $ — $ (14 ) $ — $ (1,254 ) Amounts reported in accumulated other comprehensive loss related to these derivatives are reclassified to interest expense as interest payments are made on our designated rate sensitive liabilities. The table below presents the amount reclassified from accumulated other comprehensive loss into net income as interest expense for interest rate swaps and termination losses: Amount of Loss Reclassified from OCI into Expense (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Interest rate swaps $ — $ 443 $ 282 $ 1,351 During the nine months ended September 30, 2021, the Company terminated an interest rate swap designated as a cash flow hedge prior to its respective maturity date and recognized a loss. The net loss reclassified into earnings totaled $ 402,000 3.4 million 32.5 million Credit-risk-related Contingent Features. By using derivative financial instruments, we expose ourselves to credit risk. Credit risk is the risk of failure by the counterparty to perform under the terms of the derivative contract. When the fair value of a derivative contract is positive, the counterparty owes us, which creates credit risk for us. When the fair value of a derivative is negative, we owe the counterparty and, therefore, it does not possess credit risk. The credit risk in derivative instruments is mitigated by entering into transactions with highly-rated counterparties that we believe to be creditworthy and by limiting the amount of exposure to each counterparty. We have agreements with our derivative counterparties that contain a provision where if we default on any of our indebtedness, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. We also have agreements with certain of our derivative counterparties that contain a provision where if we fail to maintain our status as well capitalized, then the counterparty could terminate the derivative positions and we would be required to settle our obligations under the agreements. Certain of our agreements with our derivative counterparties contain provisions where if a formal administrative action by a federal or state regulatory agency occurs that materially changes our creditworthiness in an adverse manner, we may be required to fully collateralize our obligations under the derivative instrument. At September 30, 2021, we had a net asset position of $ 305,000 1.5 million

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	12. FAIR VALUE OF ASSETS AND LIABILITIES Determination of Fair Value. We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. The fair value of a financial instrument is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. Fair value is best determined based upon quoted market prices. However, in many instances, there are no quoted market prices for our various financial instruments. 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. Accordingly, the fair value estimates may not be realized in an immediate settlement of the instrument. Fair Value Hierarchy. We group our assets and liabilities that are measured at fair value in three levels, based on the markets in which the assets are traded and the reliability of the assumptions used to determine fair value. Level 1 Level 2 Level 3 Methods and assumptions for valuing our financial instruments measured at fair value on a recurring basis are set forth below. Estimated fair values are calculated based on the value without regard to any premium or discount that may result from concentrations of ownership of a financial instrument, possible tax ramifications or estimated transaction cost. Securities Available-for-Sale. The securities measured at fair value in Level 1 are based on quoted market prices in an active exchange market. These securities include marketable equity securities. All other securities are measured at fair value in Level 2 and are based on pricing models that consider standard input factors such as observable market data, benchmark yields, interest rate volatilities, broker/dealer quotes, credit spreads and new issue data. These securities include government-sponsored enterprise obligations, state and municipal obligations, residential mortgage-backed securities guaranteed and sponsored by the U.S. government or an agency thereof. Fair value measurements are obtained from a third-party pricing service and are not adjusted by management. Interest Rate Swaps. The valuation of our interest rate swaps is obtained from a third-party pricing service and is determined using a discounted cash flow analysis on the expected cash flows of each derivative. The pricing analysis is based on observable inputs for the contractual terms of the derivatives, including the period to maturity and interest rate curves. We have determined that the majority of the inputs used to value our interest rate derivatives fall within Level 2 of the fair value hierarchy. Assets and Liabilities Measured at Fair Value on a Recurring Basis. Assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2021 Level 1 Level 2 Level 3 Total Assets: (In thousands) Securities available-for-sale $ — $ 208,030 $ — $ 208,030 Marketable equity securities 11,970 — — 11,970 Interest rate swaps — 1,775 — 1,775 Total assets $ 11,970 $ 209,805 $ — $ 221,775 Liabilities: Interest rate swaps $ — $ 1,775 $ — $ 1,775 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: (In thousands) Securities available-for-sale $ — $ 201,880 $ — $ 201,880 Marketable equity securities 11,968 — — 11,968 Interest rate swaps — 1,554 — 1,554 Total assets $ 11,968 $ 203,434 $ — $ 215,402 Liabilities: Interest rate swaps $ — $ 1,554 $ — $ 1,554 Assets Measured at Fair Value on a Non-recurring Basis. We may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at September 30, 2021 and December 31, 2020. At Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 September 30, 2021 Total Total Level 1 Level 2 Level 3 Losses Losses (In thousands) Impaired Loans $ — $ — $ — $ — $ 100 At Three Months Ended Nine Months Ended December 31, 2020 September 30, 2020 September 30, 2020 Total Total Level 1 Level 2 Level 3 Losses Losses (In thousands) Impaired Loans $ — $ — $ 150 $ 13 $ 119 The amount of impaired loans represents the carrying value, and net of the related write-down or valuation allowance of impaired loans for which adjustments are based on the estimated fair value of the underlying collateral. The fair value of impaired loans with specific allocations of the allowance for loan losses is generally based on real estate appraisals performed by independent licensed or certified appraisers. These appraisals may utilize a single valuation approach or a combination of approaches including comparable sales and the income approach. Adjustments are routinely made in the appraisal process by the appraisers to adjust for differences between the comparable sales and income data available. Management will discount appraisals as deemed necessary based on the date of the appraisal and new information deemed relevant to the valuation. Such adjustments are typically significant and result in a Level 3 classification of the inputs for determining fair value. The resulting losses were recognized in earnings through the provision for loan losses. There were no liabilities measured at fair value on a non-recurring basis at September 30, 2021 and December 31, 2020. Summary of Fair Values of Financial Instruments. The estimated fair values of our financial instruments are as follows: September 30, 2021 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 148,496 $ 148,496 $ — $ — $ 148,496 Securities available-for-sale 208,030 — 208,030 — 208,030 Securities held-to-maturity 154,403 — 153,324 — 153,324 Marketable equity securities 11,970 11,970 — — 11,970 Federal Home Loan Bank of Boston and other restricted stock 2,698 — — 2,698 2,698 Loans - net 1,826,313 — — 1,826,708 1,826,708 Accrued interest receivable 7,931 — — 7,931 7,931 Mortgage servicing rights 515 — 561 — 561 Derivative assets 1,775 — 1,775 — 1,775 Liabilities: Deposits 2,224,842 — — 2,225,588 2,225,588 Long-term debt 3,829 — 3,807 — 3,807 Subordinated debt 19,623 20,954 — 20,954 Accrued interest payable 44 — — 44 44 Derivative liabilities 1,775 — 1,775 — 1,775 December 31, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 87,444 $ 87,444 $ — $ — $ 87,444 Securities available-for-sale 201,880 — 201,880 — 201,880 Marketable equity securities 11,968 11,968 — — 11,968 Federal Home Loan Bank of Boston and other restricted stock 5,160 — — 5,160 5,160 Loans - net 1,906,226 — — 1,900,750 1,900,750 Accrued interest receivable 8,477 — — 8,477 8,477 Mortgage servicing rights 153 — 157 — 157 Derivative assets 1,554 — 1,554 — 1,554 Liabilities: Deposits 2,038,130 — — 2,040,293 2,040,293 Long-term debt 57,850 — 57,945 — 57,945 Accrued interest payable 124 — — 124 124 Derivative liabilities 1,554 — 1,554 — 1,554

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2021
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	13. RECENT ACCOUNTING PRONOUNCEMENTS In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, Financial Instruments—Credit Losses

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation The Bank operates 25
Wholly-owned Subsidiaries of the Bank	Wholly-owned Subsidiaries of the Bank
Principles of Consolidation	Principles of Consolidation
Estimates	Estimates
Basis of Presentation	Basis of Presentation These unaudited consolidated financial statements should be read in conjunction with the audited consolidated financial statements as of and for the year ended December 31, 2020, included in our Annual Report on Form 10-K for the year ended December 31, 2020 (the “2020 Annual Report”).
Reclassifications	Reclassifications

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2021
Earnings per common share:
Earnings per common share for the three and nine months ended September 30, 2021 and 2020 have been computed based on the following:	Earnings per common share for the three and nine months ended September 30, 2021 and 2020 have been computed based on the following: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands, except per share data) Net income applicable to common stock $ 6,036 $ 2,101 $ 17,479 $ 6,202 Average number of common shares issued 23,255 25,641 24,232 25,859 Less: Average unallocated ESOP Shares (486 ) (569 ) (506 ) (590 ) Less: Average unvested performance-based equity incentive plan shares (149 ) (126 ) (123 ) (123 ) Average number of common shares outstanding used to calculate basic earnings per common share 22,620 24,946 23,603 25,146 Effect of dilutive performance-based equity incentive plan 52 — 30 — Effect of dilutive stock options 42 — 37 18 Average number of common shares outstanding used to calculate diluted earnings per common share 22,714 24,946 23,670 25,164 Basic earnings per share $ 0.27 $ 0.08 $ 0.74 $ 0.25 Diluted earnings per share $ 0.27 $ 0.08 $ 0.74 $ 0.25 Anti-dilutive shares (1) — 344 — 344 (1) Shares outstanding but not included because the impact of these shares would be anti-dilutive to the earnings per share calculation for the periods presented.

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
The components of accumulated other comprehensive loss included in shareholders’ equity are as follows:	The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: September 30, 2021 December 31, 2020 (In thousands) Net unrealized (losses) gains on securities available-for-sale $ (3,327 ) $ 1,302 Tax effect 815 (339 ) Net-of-tax amount (2,512 ) 963 Losses on terminated cash flow hedges — (684 ) Tax effect — 192 Net-of-tax amount — (492 ) Unrecognized actuarial loss on the defined benefit plan (15,643 ) (16,344 ) Tax effect 4,397 4,594 Net-of-tax amount (11,246 ) (11,750 ) Accumulated other comprehensive loss $ (13,758 ) $ (11,279 )

SECURITIES (Tables)

SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Available-for-sale and held-to-maturity investment securities are summarized as follows:	Available-for-sale and held-to-maturity investment securities are summarized as follows: September 30, 2021 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,899 $ — $ (679 ) $ 14,220 State and municipal bonds 405 1 — 406 Corporate bonds 3,029 68 — 3,097 Total debt securities 18,333 69 (679 ) 17,723 Mortgage-backed securities: Government-sponsored mortgage-backed securities 182,342 657 (2,862 ) 180,137 U.S. government guaranteed mortgage-backed securities 10,682 14 (526 ) 10,170 Total mortgage-backed securities 193,024 671 (3,388 ) 190,307 Total available-for-sale 211,357 740 (4,067 ) 208,030 Held-to-maturity securities: Mortgage-backed securities: Government-sponsored mortgage-backed securities 154,403 75 (1,154 ) 153,324 Total held-to-maturity 154,403 75 (1,154 ) 153,324 Total $ 365,760 $ 815 $ (5,221 ) $ 361,354 December 31, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,871 $ 15 $ (111 ) $ 14,775 State and municipal bonds 405 1 — 406 Corporate bonds 3,039 36 — 3,075 Total debt securities 18,315 52 (111 ) 18,256 Mortgage-backed securities: Government-sponsored mortgage-backed securities 161,290 1,742 (303 ) 162,729 U.S. government guaranteed mortgage-backed securities 20,973 108 (186 ) 20,895 Total mortgage-backed securities 182,263 1,850 (489 ) 183,624 Total available-for-sale $ 200,578 $ 1,902 $ (600 ) $ 201,880
The amortized cost and fair value of available-for-sale debt securities at September 30, 2021, by final maturity, are shown below.	The amortized cost and fair value of available-for-sale debt securities at September 30, 2021, by final maturity, are shown below. Available-for-Sale Held-to-Maturity Amortized Cost Fair Value Amortized Cost Fair Value (In thousands) Debt securities: Due after one year through five years $ 3,434 $ 3,503 $ — $ — Due after five years through ten years 9,899 9,554 — — Due after ten years 5,000 4,666 — — Total debt securities 18,333 17,723 — — Mortgage-backed securities: Due after five years through ten years 2,115 2,128 — — Due after ten years 190,909 188,179 154,403 153,324 Total mortgage-backed securities 193,024 190,307 154,403 153,324 Total securities $ 211,357 $ 208,030 $ 154,403 $ 153,324
Gross realized gains and losses on sales of available-for-sale securities for the three and nine months ended September 30, 2021 and 2020 are as follows:	Gross realized gains and losses on sales of available-for-sale securities for the three and nine months ended September 30, 2021 and 2020 are as follows: Three Months Ended Nine Months Ended September 30, September 30, 2021 2020 2021 2020 (In thousands) Gross gains realized $ 12 $ 1,944 $ 12 $ 2,187 Gross losses realized (10 ) (15 ) (84 ) (222 ) Net (loss) gain realized $ 2 $ 1,929 $ (72 ) $ 1,965
Information pertaining to securities with gross unrealized losses at September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows:	Information pertaining to securities with gross unrealized losses at September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: September 30, 2021 Less Than Twelve Months Over Twelve Months Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Available-for-sale: Government-sponsored mortgage-backed securities 31 $ 137,747 $ 2,373 1.8 % 13 $ 13,262 $ 489 3.8 % U.S. government guaranteed mortgage-backed securities 2 2,737 129 4.9 5 5,848 397 7.3 Government-sponsored enterprise obligations 2 9,554 345 3.7 1 4,667 334 7.7 Total available-for-sale 35 150,038 2,847 19 23,777 1,220 Held-to-maturity: Government-sponsored mortgage-backed securities 19 123,750 1,154 0.9 % — — — — % Total held-to-maturity 19 123,750 1,154 — — — Total 54 $ 273,788 $ 4,001 19 $ 23,777 $ 1,220 December 31, 2020 Less Than Twelve Months Over Twelve Months Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) Number of Securities Fair Value Gross Unrealized Loss Depreciation from Amortized Cost Basis (%) (Dollars in thousands) Government-sponsored mortgage-backed securities 16 $ 27,091 $ 225 0.8 % 2 $ 1,815 $ 78 4.1 % U.S. government guaranteed mortgage-backed securities 3 10,458 75 0.7 2 2,393 111 4.4 Government-sponsored enterprise obligations 2 9,868 111 1.1 — — — — 21 $ 47,417 $ 411 4 $ 4,208 $ 189

LOANS AND ALLOWANCE FOR LOAN _2

LOANS AND ALLOWANCE FOR LOAN LOSSES (Tables)	9 Months Ended
	Sep. 30, 2021
Receivables [Abstract]
Major classifications of loans at the periods indicated were as follows:	Major classifications of loans at the periods indicated were as follows: September 30, December 31, 2021 2020 (In thousands) Commercial real estate $ 917,630 $ 833,949 Residential real estate: Residential one-to-four family 565,912 604,719 Home equity 97,734 103,905 Total residential real estate 663,646 708,624 Commercial and industrial: Paycheck protection program (“PPP”) loans 58,904 167,258 Commercial and industrial 200,526 211,823 Total commercial and industrial 259,430 379,081 Consumer 4,414 5,192 Total gross loans 1,845,120 1,926,846 Unamortized PPP loan fees (1,623 ) (3,050 ) Unearned premiums and deferred loan fees and costs, net 2,653 3,587 Total loans, net 1,846,150 1,927,383 Allowance for loan losses (19,837 ) (21,157 ) Net loans $ 1,826,313 $ 1,906,226
A summary of the activity in the balances of mortgage servicing rights follows:	A summary of the activity in the balances of mortgage servicing rights follows: Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021 (In thousands) Balance at the beginning of period: $ 243 $ 153 Capitalized mortgage servicing rights 295 417 Amortization (23 ) (55 ) Balance at the end of period $ 515 $ 515 Fair value at the end of period $ 561 $ 561
An analysis of changes in the allowance for loan losses by segment for the nine months ended September 30, 2021 and 2020 is as follows:	An analysis of changes in the allowance for loan losses by segment for the nine months ended September 30, 2021 and 2020 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Three Months Ended Balance at June 30, 2020 $ 10,271 $ 4,167 $ 3,564 $ 237 $ 14 $ 18,253 Provision (credit) 2,103 117 458 50 (3 ) 2,725 Charge-offs — (26 ) (325 ) (37 ) — (388 ) Recoveries 58 1 37 6 — 102 Balance at September 30, 2020 $ 12,432 $ 4,259 $ 3,734 $ 256 $ 11 $ 20,692 Balance at June 30, 2021 $ 12,129 $ 4,102 $ 3,410 $ 214 $ 15 $ 19,870 Provision (credit) 524 (176 ) (456 ) 18 (10 ) (100 ) Charge-offs — (3 ) — (35 ) — (38 ) Recoveries 6 87 3 9 — 105 Balance at September 30, 2021 $ 12,659 $ 4,010 $ 2,957 $ 206 $ 5 $ 19,837 Nine Months Ended Balance at December 31, 2019 $ 6,807 $ 3,920 $ 3,183 $ 203 $ (11 ) $ 14,102 Provision 5,674 406 1,057 116 22 7,275 Charge-offs (107 ) (135 ) (544 ) (96 ) — (882 ) Recoveries 58 68 38 33 — 197 Balance at September 30, 2020 $ 12,432 $ 4,259 $ 3,734 $ 256 $ 11 $ 20,692 Balance at December 31, 2020 $ 13,020 $ 4,240 $ 3,630 $ 241 $ 26 $ 21,157 Provision (credit) (265 ) (283 ) (665 ) 9 (21 ) (1,225 ) Charge-offs (103 ) (43 ) (34 ) (82 ) — (262 ) Recoveries 7 96 26 38 — 167 Balance at September 30, 2021 $ 12,659 $ 4,010 $ 2,957 $ 206 $ 5 $ 19,837
The following table presents information pertaining to the allowance for loan losses by segment, excluding PPP loans, for the dates indicated:	The following table presents information pertaining to the allowance for loan losses by segment, excluding PPP loans, for the dates indicated: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) September 30, 2021 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 12,659 4,010 2,957 206 5 19,837 Total allowance for loan losses $ 12,659 $ 4,010 $ 2,957 $ 206 $ 5 $ 19,837 Impaired loans $ 9,748 $ 3,568 $ 812 $ 23 $ — $ 14,151 Non-impaired loans 902,942 658,306 199,338 4,391 — 1,764,977 Impaired loans acquired with deteriorated credit quality 4,940 1,772 376 — — 7,088 Total loans $ 917,630 $ 663,646 $ 200,526 $ 4,414 $ — $ 1,786,216 December 31, 2020 Amount of allowance for impaired loans $ — $ — $ — $ — $ — $ — Amount of allowance for non-impaired loans 13,020 4,240 3,630 241 26 21,157 Total allowance for loan losses $ 13,020 $ 4,240 $ 3,630 $ 241 $ 26 $ 21,157 Impaired loans $ 11,803 $ 4,363 $ 4,439 $ 27 $ — $ 20,632 Non-impaired loans 816,406 701,915 207,002 5,165 — 1,730,488 Impaired loans acquired with deteriorated credit quality 5,740 2,346 382 — — 8,468 Total loans $ 833,949 $ 708,624 $ 211,823 $ 5,192 $ — $ 1,759,588
The following tables present an age analysis of past due loans, excluding PPP loans, as of the dates indicated:	The following tables present an age analysis of past due loans, excluding PPP loans, as of the dates indicated: 30 – 59 Days Past Due 60 – 89 Days Past Due 90 Days or More Past Due Total Past Due Loans Total Current Loans Total Loans Nonaccrual Loans (In thousands) September 30, 2021 Commercial real estate $ 238 $ 1 $ 499 $ 738 $ 916,892 $ 917,630 $ 1,255 Residential real estate: Residential one-to-four family 878 129 860 1,867 564,045 565,912 3,626 Home equity 25 — 87 112 97,622 97,734 154 Commercial and industrial 329 — — 329 200,197 200,526 574 Consumer 4 15 — 19 4,395 4,414 23 Total loans $ 1,474 $ 145 $ 1,446 $ 3,065 $ 1,783,151 $ 1,786,216 $ 5,632 December 31, 2020 Commercial real estate $ 5,844 $ 3,144 $ 1,256 $ 10,244 $ 823,705 $ 833,949 $ 1,632 Residential real estate: Residential one-to-four family 1,684 360 707 2,751 601,968 604,719 5,353 Home equity 25 — — 25 103,880 103,905 124 Commercial and industrial 166 158 156 480 211,343 211,823 705 Consumer 22 — — 22 5,170 5,192 27 Total loans $ 7,741 $ 3,662 $ 2,119 $ 13,522 $ 1,746,066 $ 1,759,588 $ 7,841
The following is a summary of impaired loans by class:	The following is a summary of impaired loans by class: Three Months Ended Nine Months Ended At September 30, 2021 September 30, 2021 September 30, 2021 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 14,688 $ 15,849 $ 14,900 $ 72 $ 16,163 $ 377 Residential one-to-four family 5,167 6,107 5,445 30 5,916 197 Home equity 173 207 162 3 146 7 Commercial and industrial 1,188 3,691 1,214 20 3,026 110 Consumer 23 38 24 3 25 3 Total impaired loans $ 21,239 $ 25,892 $ 21,745 $ 128 $ 25,276 $ 694 Three Months Ended Nine Months Ended At December 31, 2020 September 30, 2020 September 30, 2020 Recorded Investment Unpaid Principal Balance Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized (In thousands) Impaired Loans (1) Commercial real estate $ 17,543 $ 18,590 $ 19,709 $ 169 $ 18,361 $ 369 Residential one-to-four family 6,544 7,647 5,728 14 5,655 53 Home equity 165 207 384 1 413 4 Commercial and industrial 4,821 7,038 6,072 120 3,720 196 Consumer 27 39 32 — 36 — Total impaired loans $ 29,100 $ 33,521 $ 31,925 $ 304 $ 28,185 $ 622 (1) Includes loans acquired with deteriorated credit quality and performing troubled debt restructurings.
The following is a summary of loans acquired in the Chicopee acquisition with evidence of credit deterioration as of September 30, 2021.	The following is a summary of loans acquired in the Chicopee acquisition with evidence of credit deterioration as of September 30, 2021. Contractual Required Payments Receivable Cash Expected To Be Collected Non- Accretable Discount Accretable Yield Loans Receivable (In thousands) Balance at December 31, 2020 $ 14,297 $ 11,485 $ 2,812 $ 3,017 $ 8,468 Collections (1,712 ) (1,635 ) (77 ) (258 ) (1,377 ) Dispositions (177 ) (175 ) (2 ) (172 ) (3 ) Balance at September 30, 2021 $ 12,408 $ 9,675 $ 2,733 $ 2,587 $ 7,088
The following table presents our loans by risk rating for the periods indicated:	The following table presents our loans by risk rating for the periods indicated: Commercial Real Estate Residential One-to-Four Family Home Equity Commercial and Industrial Consumer Total (In thousands) September 30, 2021 Pass (Rated 1 – 4) $ 843,666 $ 560,972 $ 97,418 $ 242,264 $ 4,391 $ 1,748,711 Special Mention (Rated 5) 54,283 — — 9,905 — 64,188 Substandard (Rated 6) 19,681 4,940 316 7,261 23 32,221 Total $ 917,630 $ 565,912 $ 97,734 $ 259,430 $ 4,414 $ 1,845,120 December 31, 2020 Pass (Rated 1 – 4) $ 726,751 $ 598,250 $ 103,619 $ 345,967 $ 5,165 $ 1,779,752 Special Mention (Rated 5) 78,207 — — 13,871 — 92,078 Substandard (Rated 6) 28,991 6,469 286 19,243 27 55,016 Total $ 833,949 $ 604,719 $ 103,905 $ 379,081 $ 5,192 $ 1,926,846

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
A summary of stock option activity for the nine months ended September 30, 2021 is presented below:	A summary of stock option activity for the nine months ended September 30, 2021 is presented below: Shares Weighted Average Exercise Price Weighted Aggregate Outstanding at December 31, 2020 210,975 $ 6.46 1.67 $ 90 Exercised (19,400 ) 5.85 0.67 43 Outstanding at September 30, 2021 191,575 $ 6.52 1.01 $ 383 Exercisable at September 30, 2021 191,575 $ 6.52 1.01 $ 383
Schedule of threshold, target and stretch metrics	The threshold, target and stretch metrics under the 2019 grants are as follows: Schedule of threshold, target and stretch metrics Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2019 5.75 % 6.13 % 7.00 % December 31, 2020 6.00 % 6.75 % 7.75 % December 31, 2021 6.25 % 7.00 % 8.00 % Eligible participants will be able to earn between 50 100 150 In February 2020, there were 120,053 120,053 69,898 19,760 one year 50,138 three-year 50,155 50 three-year Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2020 5.00 % 5.48 % 6.00 % December 31, 2021 5.62 % 6.24 % 6.86 % December 31, 2022 6.29 % 6.99 % 7.69 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 1.50 $ 1.65 $ 1.80 Eligible participants will be able to earn between 50 100 150 The fair market value of shares awarded is based on the market price at the grant date, recorded as unearned compensation and amortized over the applicable vesting period. Performance-based metrics are monitored on a quarterly basis in order to compare actual results to the performance metric, with any necessary adjustments being recognized through share-based compensation expense and unearned compensation. In February 2021, there were 19,827 one-year In May 2021, the Company’s shareholders approved the 2021 Omnibus Incentive Plan, a stock-based compensation plan (the “2021 RSA Plan”). Under the 2021 RSA Plan, up to 700,000 In May 2021, there were 122,362 122,362 61,181 three-year 61,181 50 three-year three-year Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2021 5.63 % 6.25 % 7.50 % December 31, 2022 5.85 % 6.50 % 7.80 % December 31, 2023 6.08 % 6.75 % 8.10 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 1.58 $ 1.97 $ 2.36
A summary of the status of restricted stock awards at September 30, 2021 and 2020 is presented below:	A summary of the status of restricted stock awards at September 30, 2021 and 2020 is presented below: Shares Weighted Average Grant Date Fair Value Balance at December 31, 2020 178,698 $ 9.63 Shares granted 142,189 8.32 Shares forfeited (19,086 ) 11.05 Shares vested (27,727 ) 9.81 Balance at September 30, 2021 274,074 $ 8.83 Shares Weighted Average Grant Date Fair Value Balance at December 31, 2019 172,866 $ 10.07 Shares granted 101,408 9.11 Shares forfeited (16,803 ) 10.15 Shares vested (41,894 ) 9.54 Shares reissued 18,645 9.11 Balance at September 30, 2020 234,222 $ 9.67

PENSION BENEFITS (Tables)

PENSION BENEFITS (Tables)	9 Months Ended
	Sep. 30, 2021
Retirement Benefits [Abstract]
The following table provides information regarding net pension benefit costs for the periods shown:	The following table provides information regarding net pension benefit costs for the periods shown: Three Months Ended Nine Months Ended, 2021 2020 2021 2020 (In thousands) Service cost $ 454 $ 357 $ 1,362 $ 1,066 Interest cost 293 293 880 870 Expected return on assets (439 ) (382 ) (1,317 ) (1,146 ) Amortization of actuarial loss 234 99 701 296 Net periodic pension cost $ 542 $ 367 $ 1,626 $ 1,086

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Derivative Instruments and Hedging Activities Disclosure [Abstract]
The following table presents information about interest rate swaps at September 30, 2021 and December 31, 2020:	The following table presents information about interest rate swaps at September 30, 2021 and December 31, 2020: September 30, 2021 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Non-hedging derivatives: Loan-level swaps – dealer $ 16,093 11.4 1.97 % 3.76 % $ (735 ) Loan-level swaps – borrower 16,093 11.4 3.76 % 1.97 % 735 Forward starting loan-level swaps - dealer 22,390 10.8 1,040 Forward starting loan-level swaps - borrower 22,390 10.8 (1,040 ) Total $ 76,966 $ 0 December 31, 2020 Notional Weighted Average Weighted Average Rate Estimated Fair Amount Maturity Receive Pay Value (In thousands) (In years) (In thousands) Non-hedging derivatives: Loan-level swaps – dealer $ 13,554 12.5 1.97 % 3.74 % $ (1,440 ) Loan-level swaps – borrower 13,554 12.5 3.74 % 1.97 % 1,440 Forward starting loan-level swaps - dealer 22,390 11.5 114 Forward starting loan-level swaps - borrower 22,390 11.5 (114 ) Total $ 71,888 $ 0
The table below presents the fair value of our derivative financial instruments designated as hedging and non-hedging instruments as well as our classification on the balance sheet as of September 30, 2021 and December 31, 2020.	The table below presents the fair value of our derivative financial instruments designated as hedging and non-hedging instruments as well as our classification on the balance sheet as of September 30, 2021 and December 31, 2020. September 30, 2021 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives not designated as hedging instruments: Interest rate swap – with customers Other Assets $ 735 Other Liabilities $ 1,040 Interest rate swap – with counterparties 1,040 735 Total derivatives not designated as hedging instruments $ 1,775 $ 1,775 December 31, 2020 Asset Derivatives Liability Derivatives Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Derivatives not designated as hedging instruments: Interest rate swap – with customers Other Assets $ 1,440 Other Liabilities $ 114 Interest rate swap – with counterparties 114 1,440 Total derivatives not designated as hedging instruments $ 1,554 $ 1,554
The table below presents the pre-tax net losses of our cash flow hedges for the periods indicated:	The table below presents the pre-tax net losses of our cash flow hedges for the periods indicated: Amount of Gain (Loss) Recognized in OCI on Derivative Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Interest rate swaps $ — $ (14 ) $ — $ (1,254 ) Amounts reported in accumulated other comprehensive loss related to these derivatives are reclassified to interest expense as interest payments are made on our designated rate sensitive liabilities. The table below presents the amount reclassified from accumulated other comprehensive loss into net income as interest expense for interest rate swaps and termination losses: Amount of Loss Reclassified from OCI into Expense (Effective Portion) Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 (In thousands) Interest rate swaps $ — $ 443 $ 282 $ 1,351

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Assets and liabilities measured at fair value on a recurring basis are summarized below:	Assets and liabilities measured at fair value on a recurring basis are summarized below: September 30, 2021 Level 1 Level 2 Level 3 Total Assets: (In thousands) Securities available-for-sale $ — $ 208,030 $ — $ 208,030 Marketable equity securities 11,970 — — 11,970 Interest rate swaps — 1,775 — 1,775 Total assets $ 11,970 $ 209,805 $ — $ 221,775 Liabilities: Interest rate swaps $ — $ 1,775 $ — $ 1,775 December 31, 2020 Level 1 Level 2 Level 3 Total Assets: (In thousands) Securities available-for-sale $ — $ 201,880 $ — $ 201,880 Marketable equity securities 11,968 — — 11,968 Interest rate swaps — 1,554 — 1,554 Total assets $ 11,968 $ 203,434 $ — $ 215,402 Liabilities: Interest rate swaps $ — $ 1,554 $ — $ 1,554
The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at September 30, 2021 and December 31, 2020.	We may also be required, from time to time, to measure certain other assets at fair value on a non-recurring basis in accordance with U.S. GAAP. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at September 30, 2021 and December 31, 2020. At Three Months Ended Nine Months Ended September 30, 2021 September 30, 2021 September 30, 2021 Total Total Level 1 Level 2 Level 3 Losses Losses (In thousands) Impaired Loans $ — $ — $ — $ — $ 100 At Three Months Ended Nine Months Ended December 31, 2020 September 30, 2020 September 30, 2020 Total Total Level 1 Level 2 Level 3 Losses Losses (In thousands) Impaired Loans $ — $ — $ 150 $ 13 $ 119
The estimated fair values of our financial instruments are as follows:	The estimated fair values of our financial instruments are as follows: September 30, 2021 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 148,496 $ 148,496 $ — $ — $ 148,496 Securities available-for-sale 208,030 — 208,030 — 208,030 Securities held-to-maturity 154,403 — 153,324 — 153,324 Marketable equity securities 11,970 11,970 — — 11,970 Federal Home Loan Bank of Boston and other restricted stock 2,698 — — 2,698 2,698 Loans - net 1,826,313 — — 1,826,708 1,826,708 Accrued interest receivable 7,931 — — 7,931 7,931 Mortgage servicing rights 515 — 561 — 561 Derivative assets 1,775 — 1,775 — 1,775 Liabilities: Deposits 2,224,842 — — 2,225,588 2,225,588 Long-term debt 3,829 — 3,807 — 3,807 Subordinated debt 19,623 20,954 — 20,954 Accrued interest payable 44 — — 44 44 Derivative liabilities 1,775 — 1,775 — 1,775 December 31, 2020 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 87,444 $ 87,444 $ — $ — $ 87,444 Securities available-for-sale 201,880 — 201,880 — 201,880 Marketable equity securities 11,968 11,968 — — 11,968 Federal Home Loan Bank of Boston and other restricted stock 5,160 — — 5,160 5,160 Loans - net 1,906,226 — — 1,900,750 1,900,750 Accrued interest receivable 8,477 — — 8,477 8,477 Mortgage servicing rights 153 — 157 — 157 Derivative assets 1,554 — 1,554 — 1,554 Liabilities: Deposits 2,038,130 — — 2,040,293 2,040,293 Long-term debt 57,850 — 57,945 — 57,945 Accrued interest payable 124 — — 124 124 Derivative liabilities 1,554 — 1,554 — 1,554

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Sep. 30, 2021Number
Accounting Policies [Abstract]
Number of banking offices in which bank operates	25

Earnings per common share for t

Earnings per common share for the three and nine months ended September 30, 2021 and 2020 have been computed based on the following: (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Earnings per common share:
Net income applicable to common stock		$ 6,036	$ 2,101	$ 17,479	$ 6,202
Average number of common shares issued		23,255	25,641	24,232	25,859
Less: Average unallocated ESOP Shares		(486)	(569)	(506)	(590)
Less: Average unvested performance-based equity incentive plan shares		(149)	(126)	(123)	(123)
Average number of common shares outstanding used to calculate basic earnings per common share		22,620	24,946	23,603	25,146
Effect of dilutive performance-based equity incentive plan		52		30
Effect of dilutive stock options		42		37	18
Average number of common shares outstanding used to calculate diluted earnings per common share		22,714	24,946	23,670	25,164
Basic earnings per share		$ 0.27	$ 0.08	$ 0.74	$ 0.25
Diluted earnings per share		$ 0.27	$ 0.08	$ 0.74	$ 0.25
Anti-dilutive shares	[1]		344		344
[1]	Shares outstanding but not included because the impact of these shares would be anti-dilutive to the earnings per share calculation for the periods presented.

The components of accumulated o

The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (13,758)	$ (11,279)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-sale, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	(3,327)	1,302
Tax effect	815	(339)
Accumulated other comprehensive loss	(2,512)	963
AOCI, Derivative Qualifying as Hedge, Excluded Component, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax		(684)
Tax effect		192
Accumulated other comprehensive loss		(492)
Accumulated Defined Benefit Plans Adjustment Attributable to Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss, before tax	(15,643)	(16,344)
Tax effect	4,397	4,594
Accumulated other comprehensive loss	$ (11,246)	$ (11,750)

Available-for-sale and held-to-

Available-for-sale and held-to-maturity investment securities are summarized as follows: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	$ 211,357	$ 200,578
Available-for-sale securities, gross unrealized gains	740	1,902
Available-for-sale securities, gross unrealized losses	(4,067)	(600)
Available-for-sale securities, fair value	208,030	201,880
Held-to-maturity securities, amortized cost	154,403
Held-to-maturity securities, gross unrealized gains	75
Held-to-maturity securities, gross unrealized losses	(1,154)
Held-to-maturity securities, fair value	153,324
Total, amortized cost	365,760
Total, gross unrealized gains	815
Total, gross unrealized losses	(5,221)
Total, fair value	361,354
Government-sponsored enterprise obligations [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	14,899	14,871
Available-for-sale securities, gross unrealized gains		15
Available-for-sale securities, gross unrealized losses	(679)	(111)
Available-for-sale securities, fair value	14,220	14,775
State and Municipal Bonds [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	405	405
Available-for-sale securities, gross unrealized gains	1	1
Available-for-sale securities, gross unrealized losses
Available-for-sale securities, fair value	406	406
Corporate Debt Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	3,029	3,039
Available-for-sale securities, gross unrealized gains	68	36
Available-for-sale securities, gross unrealized losses
Available-for-sale securities, fair value	3,097	3,075
Debt Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	18,333	18,315
Available-for-sale securities, gross unrealized gains	69	52
Available-for-sale securities, gross unrealized losses	(679)	(111)
Available-for-sale securities, fair value	17,723	18,256
Held-to-maturity securities, amortized cost
Held-to-maturity securities, fair value
Government-sponsored mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	182,342	161,290
Available-for-sale securities, gross unrealized gains	657	1,742
Available-for-sale securities, gross unrealized losses	(2,862)	(303)
Available-for-sale securities, fair value	180,137	162,729
Held-to-maturity securities, amortized cost	154,403
Held-to-maturity securities, gross unrealized gains	75
Held-to-maturity securities, gross unrealized losses	(1,154)
Held-to-maturity securities, fair value	153,324
U.S. government guaranteed mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	10,682	20,973
Available-for-sale securities, gross unrealized gains	14	108
Available-for-sale securities, gross unrealized losses	(526)	(186)
Available-for-sale securities, fair value	10,170	20,895
Collateralized Mortgage Backed Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	193,024	182,263
Available-for-sale securities, gross unrealized gains	671	1,850
Available-for-sale securities, gross unrealized losses	(3,388)	(489)
Available-for-sale securities, fair value	190,307	$ 183,624
Held-to-maturity securities, amortized cost	154,403
Held-to-maturity securities, fair value	$ 153,324

The amortized cost and fair val

The amortized cost and fair value of available-for-sale debt securities at September 30, 2021, by final maturity, are shown below. (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	$ 211,357	$ 200,578
Available-for-sale securities, fair value	208,030	201,880
Held-to-maturity securities, amortized cost	154,403
Held-to-maturity securities, fair value	153,324
Debt Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, due after one year through five years, amortized cost	3,434
Available-for-sale securities, due after one year through five years, fair value	3,503
Held-to-maturity securities, due after one year through five years, amortized cost
Held-to-maturity securities, due after one year through five years, fair value
Available-for-sale securities, due after five years through ten years, amortized cost	9,899
Available-for-sale securities, due after five years through ten years, fair value	9,554
Held-to-maturity securities, due after five years through ten years, amortized cost
Held-to-maturity securities, due after five years through ten years, fair value
Available-for-sale securities, due after ten years, amortized cost	5,000
Available-for-sale securities, due after ten years, fair value	4,666
Held-to-maturity securities, due after ten years, amortized cost
Held-to-maturity securities, due after ten years, fair value
Available-for-sale securities, amortized cost	18,333	18,315
Available-for-sale securities, fair value	17,723	18,256
Held-to-maturity securities, amortized cost
Held-to-maturity securities, fair value
Collateralized Mortgage Backed Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, due after five years through ten years, amortized cost	2,115
Available-for-sale securities, due after five years through ten years, fair value	2,128
Held-to-maturity securities, due after five years through ten years, amortized cost
Held-to-maturity securities, due after five years through ten years, fair value
Available-for-sale securities, due after ten years, amortized cost	190,909
Available-for-sale securities, due after ten years, fair value	188,179
Held-to-maturity securities, due after ten years, amortized cost	154,403
Held-to-maturity securities, due after ten years, fair value	153,324
Available-for-sale securities, amortized cost	193,024	182,263
Available-for-sale securities, fair value	190,307	$ 183,624
Held-to-maturity securities, amortized cost	154,403
Held-to-maturity securities, fair value	$ 153,324

Gross realized gains and losses

Gross realized gains and losses on sales of available-for-sale securities for the three and nine months ended September 30, 2021 and 2020 are as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Gross gains realized	$ 12	$ 1,944	$ 12	$ 2,187
Gross losses realized	(10)	(15)	(84)	(222)
Net (loss) gain realized	$ 2	$ 1,929	$ (72)	$ 1,965

Information pertaining to secur

Information pertaining to securities with gross unrealized losses at September 30, 2021 and December 31, 2020, aggregated by investment category and length of time that individual securities have been in a continuous loss position are as follows: (Details) $ in Thousands	Sep. 30, 2021USD ($)Number	Dec. 31, 2020USD ($)Number
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | Number	35	21
Available-for-sale, less than 12 months, fair value	$ 150,038	$ 47,417
Available-for-sale, less than 12 months, gross unrealized loss	$ 2,847	$ 411
Available-for-sale, over 12 months, number of securities | Number	19	4
Available-for-sale, over 12 months, fair value	$ 23,777	$ 4,208
Available-for-sale, over 12 months, gross unrealized loss	$ 1,220	$ 189
Held-to-maturity, less than 12 months, number of securities | Number	19
Held-to-maturity, less than 12 months, fair value	$ 123,750
Held-to-maturity, less than 12 months, gross unrealized loss	$ 1,154
Held-to-maturity, over 12 months, number of securities | Number
Held-to-maturity, over 12 months, fair value
Held-to-maturity, over 12 months, gross unrealized loss
Total, less than 12 months, number of securities | Number	54
Total, less than 12 months, fair value	$ 273,788
Total, less than 12 months, gross unrealized loss	$ 4,001
Total, over 12 months, number of securities | Number	19
Total, over 12 months, fair value	$ 23,777
Total, over 12 months, gross unrealized loss	$ 1,220
Government-sponsored mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | Number	31	16
Available-for-sale, less than 12 months, fair value	$ 137,747	$ 27,091
Available-for-sale, less than 12 months, gross unrealized loss	$ 2,373	$ 225
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)	1.80%	0.80%
Available-for-sale, over 12 months, number of securities | Number	13	2
Available-for-sale, over 12 months, fair value	$ 13,262	$ 1,815
Available-for-sale, over 12 months, gross unrealized loss	$ 489	$ 78
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	3.80%	4.10%
Held-to-maturity, less than 12 months, number of securities | Number	19
Held-to-maturity, less than 12 months, fair value	$ 123,750
Held-to-maturity, less than 12 months, gross unrealized loss	$ 1,154
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)	0.90%
Held-to-maturity, over 12 months, number of securities | Number
Held-to-maturity, over 12 months, fair value
Held-to-maturity, over 12 months, gross unrealized loss
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)
U.S. government guaranteed mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | Number	2	3
Available-for-sale, less than 12 months, fair value	$ 2,737	$ 10,458
Available-for-sale, less than 12 months, gross unrealized loss	$ 129	$ 75
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)	4.90%	0.70%
Available-for-sale, over 12 months, number of securities | Number	5	2
Available-for-sale, over 12 months, fair value	$ 5,848	$ 2,393
Available-for-sale, over 12 months, gross unrealized loss	$ 397	$ 111
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	7.30%	4.40%
Government-sponsored enterprise obligations [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | Number	2	2
Available-for-sale, less than 12 months, fair value	$ 9,554	$ 9,868
Available-for-sale, less than 12 months, gross unrealized loss	$ 345	$ 111
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)	3.70%	1.10%
Available-for-sale, over 12 months, number of securities | Number	1
Available-for-sale, over 12 months, fair value	$ 4,667
Available-for-sale, over 12 months, gross unrealized loss	$ 334
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	7.70%

SECURITIES (Details Narrative)

SECURITIES (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Marketable Securities [Line Items]
Proceeds from sale and redemption of available-for-sale securities	$ 9,562,000	$ 96,320,000
Government-sponsored enterprise obligations [Member]
Marketable Securities [Line Items]
Fair value of collateralized public deposits	9,500,000
Collateralized Mortgage Backed Securities [Member]
Marketable Securities [Line Items]
Fair value of collateralized public deposits	$ 53,200,000

Major classifications of loans

Major classifications of loans at the periods indicated were as follows: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	$ 1,845,120		$ 1,926,846
Unamortized PPP loan fees	(1,623)		(3,050)
Unearned premiums and deferred loan fees and costs, net	2,653		3,587
Total loans, net	1,846,150		1,927,383
Allowance for loan losses	(19,837)	$ (19,870)	(21,157)	$ (20,692)	$ (18,253)	$ (14,102)
Net loans	1,826,313		1,906,226
Commercial Real Estate [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	917,630		833,949
Allowance for loan losses	(12,659)	(12,129)	(13,020)	(12,432)	(10,271)	(6,807)
Residential Mortgage [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	565,912		604,719			604,719
Home Equity Line of Credit [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	97,734		103,905			103,905
Residential Portfolio Segment [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	663,646		708,624
Allowance for loan losses	(4,010)	(4,102)	(4,240)	(4,259)	(4,167)	(3,920)
Commercial and Industrial Payment Protection Program [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	58,904		167,258
Commercial and Industrial [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	200,526		211,823
Allowance for loan losses	(2,957)	(3,410)	(3,630)	(3,734)	(3,564)	(3,183)
Commercial and Industrial Sector [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	259,430		379,081
Consumer Loan [Member]
Loans and Leases Receivable Disclosure [Line Items]
Total gross loans	4,414		5,192
Allowance for loan losses	$ (206)	$ (214)	$ (241)	$ (256)	$ (237)	$ (203)

A summary of the activity in th

A summary of the activity in the balances of mortgage servicing rights follows: (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2021
Receivables [Abstract]
Balance at the beginning of period:	$ 243	$ 153
Capitalized mortgage servicing rights	295	417
Amortization	(23)	(55)
Balance at the end of period	515	515
Fair value at the end of period	$ 561	$ 561

An analysis of changes in the a

An analysis of changes in the allowance for loan losses by segment for the nine months ended September 30, 2021 and 2020 is as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance at beginning	$ 19,870	$ 18,253	$ 21,157	$ 14,102
Provision (credit)	(100)	2,725	(1,225)	7,275
Charge-offs	(38)	(388)	(262)	(882)
Recoveries	105	102	167	197
Balance at end	19,837	20,692	19,837	20,692
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance at beginning	12,129	10,271	13,020	6,807
Provision (credit)	524	2,103	(265)	5,674
Charge-offs			(103)	(107)
Recoveries	6	58	7	58
Balance at end	12,659	12,432	12,659	12,432
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance at beginning	4,102	4,167	4,240	3,920
Provision (credit)	(176)	117	(283)	406
Charge-offs	(3)	(26)	(43)	(135)
Recoveries	87	1	96	68
Balance at end	4,010	4,259	4,010	4,259
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance at beginning	3,410	3,564	3,630	3,183
Provision (credit)	(456)	458	(665)	1,057
Charge-offs		(325)	(34)	(544)
Recoveries	3	37	26	38
Balance at end	2,957	3,734	2,957	3,734
Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance at beginning	214	237	241	203
Provision (credit)	18	50	9	116
Charge-offs	(35)	(37)	(82)	(96)
Recoveries	9	6	38	33
Balance at end	206	256	206	256
Unallocated [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Balance at beginning	15	14	26	(11)
Provision (credit)	(10)	(3)	(21)	22
Charge-offs
Recoveries
Balance at end	$ 5	$ 11	$ 5	$ 11

The following table presents in

The following table presents information pertaining to the allowance for loan losses by segment, excluding PPP loans, for the dates indicated: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Financing Receivable, Allowance for Credit Loss [Line Items]
Amount of allowance for impaired loans
Amount of allowance for non-impaired loans	19,837		21,157
Total allowance for loan losses	19,837	$ 19,870	21,157	$ 20,692	$ 18,253	$ 14,102
Impaired loans	14,151		20,632
Non-impaired loans	1,764,977		1,730,488
Impaired loans acquired with deteriorated credit quality	7,088		8,468
Total loans	1,845,120		1,926,846
Total Loans Non PPE [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Total loans	1,786,216		1,759,588
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Amount of allowance for impaired loans
Amount of allowance for non-impaired loans	12,659		13,020
Total allowance for loan losses	12,659	12,129	13,020	12,432	10,271	6,807
Impaired loans	9,748		11,803
Non-impaired loans	902,942		816,406
Impaired loans acquired with deteriorated credit quality	4,940		5,740
Total loans	917,630		833,949
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Amount of allowance for impaired loans
Amount of allowance for non-impaired loans	4,010		4,240
Total allowance for loan losses	4,010	4,102	4,240	4,259	4,167	3,920
Impaired loans	3,568		4,363
Non-impaired loans	658,306		701,915
Impaired loans acquired with deteriorated credit quality	1,772		2,346
Total loans	663,646		708,624
Commercial and Industrial [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Amount of allowance for impaired loans
Amount of allowance for non-impaired loans	2,957		3,630
Total allowance for loan losses	2,957	3,410	3,630	3,734	3,564	3,183
Impaired loans	812		4,439
Non-impaired loans	199,338		207,002
Impaired loans acquired with deteriorated credit quality	376		382
Total loans	200,526		211,823
Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Amount of allowance for impaired loans
Amount of allowance for non-impaired loans	206		241
Total allowance for loan losses	206	214	241	256	237	203
Impaired loans	23		27
Non-impaired loans	4,391		5,165
Impaired loans acquired with deteriorated credit quality
Total loans	4,414		5,192
Unallocated [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Amount of allowance for impaired loans
Amount of allowance for non-impaired loans	5		26
Total allowance for loan losses	5	$ 15	26	$ 11	$ 14	$ (11)
Impaired loans
Non-impaired loans
Impaired loans acquired with deteriorated credit quality
Total loans

The following tables present an

The following tables present an age analysis of past due loans, excluding PPP loans, as of the dates indicated: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Past Due [Line Items]
Total loans	$ 1,845,120	$ 1,926,846
Non-Accrual Loans	5,632	7,841
Total Loans Non PPE [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,786,216	1,759,588
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,474	7,741
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	145	3,662
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,446	2,119
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	3,065	13,522
Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,783,151	1,746,066
Commercial Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Total loans	917,630	833,949
Non-Accrual Loans	1,255	1,632
Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	238	5,844
Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1	3,144
Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	499	1,256
Commercial Real Estate [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	738	10,244
Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	916,892	823,705
Residential Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Total loans	565,912	604,719	$ 604,719
Non-Accrual Loans	3,626	5,353
Residential Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	878	1,684
Residential Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	129	360
Residential Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	860	707
Residential Mortgage [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,867	2,751
Residential Mortgage [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	564,045	601,968
Home Equity Line of Credit [Member]
Financing Receivable, Past Due [Line Items]
Total loans	97,734	103,905	$ 103,905
Non-Accrual Loans	154	124
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	25	25
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans
Home Equity Line of Credit [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	87
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	112	25
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	97,622	103,880
Commercial and Industrial [Member]
Financing Receivable, Past Due [Line Items]
Total loans	200,526	211,823
Non-Accrual Loans	574	705
Commercial and Industrial [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	329	166
Commercial and Industrial [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		158
Commercial and Industrial [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		156
Commercial and Industrial [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	329	480
Commercial and Industrial [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	200,197	211,343
Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Total loans	4,414	5,192
Non-Accrual Loans	23	27
Consumer Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	4	22
Consumer Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	15
Consumer Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans
Consumer Loan [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	19	22
Consumer Loan [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	$ 4,395	$ 5,170

The following is a summary of i

The following is a summary of impaired loans by class: (Details) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	$ 21,239		$ 21,239		$ 29,100
Unpaid Principal Balance	[1]	25,892		25,892		33,521
Average Recorded Investment	[1]	21,745	$ 31,925	25,276	$ 28,185
Interest Income Recognized	[1]	128	304	694	622
Commercial Real Estate [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	14,688		14,688		17,543
Unpaid Principal Balance	[1]	15,849		15,849		18,590
Average Recorded Investment	[1]	14,900	19,709	16,163	18,361
Interest Income Recognized	[1]	72	169	377	369
Residential Portfolio Segment [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	5,167		5,167		6,544
Unpaid Principal Balance	[1]	6,107		6,107		7,647
Average Recorded Investment	[1]	5,445	5,728	5,916	5,655
Interest Income Recognized	[1]	30	14	197	53
Home Equity Line of Credit [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	173		173		165
Unpaid Principal Balance	[1]	207		207		207
Average Recorded Investment	[1]	162	384	146	413
Interest Income Recognized	[1]	3	1	7	4
Commercial and Industrial [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	1,188		1,188		4,821
Unpaid Principal Balance	[1]	3,691		3,691		7,038
Average Recorded Investment	[1]	1,214	6,072	3,026	3,720
Interest Income Recognized	[1]	20	120	110	196
Consumer Loan [Member]
Financing Receivable, Impaired [Line Items]
Recorded Investment	[1]	23		23		27
Unpaid Principal Balance	[1]	38		38		$ 39
Average Recorded Investment	[1]	24	32	25	36
Interest Income Recognized	[1]	$ 3		$ 3
[1]	Includes loans acquired with deteriorated credit quality and performing troubled debt restructurings.

The following is a summary of l

The following is a summary of loans acquired in the Chicopee acquisition with evidence of credit deterioration as of September 30, 2021. (Details) - Chicopee Bancorp Inc [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items]
Loans receivable - Contractual Required Payments Receivable beginning	$ 14,297
Loans receivable - Cash Expected To Be Collected beginning	11,485
Loans receivable - Non-Accretable Discount beginning	2,812
Loans receivable - Accretable Yield beginning	3,017
Loans receivable - Outstanding beginning	8,468
Collections - Contractually Required Payments Receivable	(1,712)
Collections - Cash Expected to be Collected	(1,635)
Collections - Non-Accretable Discount	(77)
Collections - Accretable Yield	(258)
Collections	(1,377)
Dispositions - Contractually Required Payments Receivable	(177)
Dispositions - Cash Expected to be Collected	(175)
Dispositions - Non-Accretable Discount	(2)
Dispositions - Accretable Yield	(172)
Dispositions	(3)
Loans receivable - Contractual Required Payments Receivable ending	12,408
Loans receivable - Cash Expected To Be Collected ending	9,675
Loans receivable - Non-Accretable Discount ending	2,733
Loans receivable - Accretable Yield ending	2,587
Loans receivable - Outstanding ending	$ 7,088

The following table presents ou

The following table presents our loans by risk rating for the periods indicated: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020	Dec. 31, 2019
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 1,845,120	$ 1,926,846
Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	1,748,711	1,779,752
Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	64,188	92,078
Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	32,221	55,016
Commercial Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	917,630	833,949
Commercial Real Estate [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	843,666	726,751
Commercial Real Estate [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	54,283	78,207
Commercial Real Estate [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	19,681	28,991
Residential Mortgage [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	565,912	604,719	$ 604,719
Residential Mortgage [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	560,972	598,250
Residential Mortgage [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans
Residential Mortgage [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	4,940	6,469
Home Equity Line of Credit [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	97,734	103,905	$ 103,905
Home Equity Line of Credit [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	97,418	103,619
Home Equity Line of Credit [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans
Home Equity Line of Credit [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	316	286
Commercial and Industrial Sector [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	259,430	379,081
Commercial and Industrial Sector [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	242,264	345,967
Commercial and Industrial Sector [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	9,905	13,871
Commercial and Industrial Sector [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	7,261	19,243
Consumer Loan [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	4,414	5,192
Consumer Loan [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	4,391	5,165
Consumer Loan [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans
Consumer Loan [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loans	$ 23	$ 27

LOANS AND ALLOWANCE FOR LOAN _3

LOANS AND ALLOWANCE FOR LOAN LOSSES (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)$ / Loan	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Receivables [Abstract]
Serviced commercial loans for participants	$ 53,100,000		$ 53,100,000		$ 52,900,000
Weighted average prepayment speed, PSA			180.00%
Weighted average internal rate of return			9.02%
Weighted average servicing fee percentage			0.25%
Net cost to service loans | $ / Loan			83.77
Sale of residential real estate mortgages			$ 40,000,000
Gain on sale of mortgages	665,000		1,134,000
Mortgage loans serviced for others	$ 71,000,000		71,000,000		$ 38,100,000
Servicing fee income			$ 88,000	$ 85,000
Underwritten percentage of appraised property value			80.00%
Loan-to-value ratio requiring private mortgage insurance			80.00%

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Finite-Lived Intangible Assets [Line Items]
Amortization of core deposit intangible	$ 94,000	$ 94,000	$ 281,000	$ 281,000
Core Deposits [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired core deposit intangible	4,500,000		$ 4,500,000
Amortization period of core deposit intangible			12 years
Future amortization of core deposit intangible assets years 1-5	375,000		$ 375,000
Future amortization of core deposit intangible assets thereafter	$ 781,000		$ 781,000

A summary of stock option activ

A summary of stock option activity for the nine months ended September 30, 2021 is presented below: (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Share-based Payment Arrangement [Abstract]
Outstanding at December 31, 2020 | shares	210,975
Outsatnding at December 31, 2020 | $ / shares	$ 6.46
Outstanding at December 31, 2020	1 year 8 months 1 day
Outstanding at December 31, 2020 | $	$ 90
Exercised | shares	(19,400)
Exercised | $ / shares	$ 5.85
Exercised	8 months 1 day
Exercised | $	$ 43
Outstanding at September 30, 2021 | shares	191,575
Outstanding at September 30, 2021 | $ / shares	$ 6.52
Outstanding at September 30, 2021	1 year 3 days
Outstanding at September 30, 2021 | $	$ 383
Exercisable at September 30, 2021 | shares	191,575
Exercisable at September 30, 2021 | $ / shares	$ 6.52
Exercisable at September 30, 2021	1 year 3 days
Exercisable at September 30, 2021 | $	$ 383

Schedule of threshold, target a

Schedule of threshold, target and stretch metrics (Details)	9 Months Ended
	Sep. 30, 2021$ / shares
LTI Plan for 2019 [Member] | Original Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2019	5.75%
December 31, 2020	6.00%
December 31, 2021	6.25%
LTI Plan for 2019 [Member] | Original Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2019	6.13%
December 31, 2020	6.75%
December 31, 2021	7.00%
LTI Plan for 2019 [Member] | Stretch [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2019	7.00%
December 31, 2020	7.75%
December 31, 2021	8.00%
LTI Plan for 2020 [Member] | Original Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2020	5.00%
December 31, 2021	5.62%
December 31, 2022	6.29%
Three-year Cumulative Diluted Earnings Per Share	$ 1.50
LTI Plan for 2020 [Member] | Original Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2020	5.48%
December 31, 2021	6.24%
December 31, 2022	6.99%
Three-year Cumulative Diluted Earnings Per Share	$ 1.65
LTI Plan for 2020 [Member] | Stretch [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2020	6.00%
December 31, 2021	6.86%
December 31, 2022	7.69%
Three-year Cumulative Diluted Earnings Per Share	$ 1.80
LTI Plan for 2021 [Member] | Original Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2021	5.63%
December 31, 2022	5.85%
December 31, 2023	6.08%
Three-year Cumulative Diluted Earnings Per Share	$ 1.58
LTI Plan for 2021 [Member] | Original Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2021	6.25%
December 31, 2022	6.50%
December 31, 2023	6.75%
Three-year Cumulative Diluted Earnings Per Share	$ 1.97
LTI Plan for 2021 [Member] | Stretch [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
December 31, 2021	7.50%
December 31, 2022	7.80%
December 31, 2023	8.10%
Three-year Cumulative Diluted Earnings Per Share	$ 2.36

A summary of the status of rest

A summary of the status of restricted stock awards at September 30, 2021 and 2020 is presented below: (Details) - Restricted Stock [Member] - $ / shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Balance at December 31, 2020	178,698	172,866
Balance at December 31, 2020	$ 9.63	$ 10.07
Shares granted	142,189	101,408
Shares granted	$ 8.32	$ 9.11
Shares forfeited	(19,086)	(16,803)
Shares forfeited	$ 11.05	$ 10.15
Shares vested	(27,727)	(41,894)
Shares vested	$ 9.81	$ 9.54
Shares reissued		18,645
Shares reissued		$ 9.11
Balance at September 30, 2021	274,074	234,222
Balance at September 30, 2021	$ 8.83	$ 9.67

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	1 Months Ended				6 Months Ended	9 Months Ended
	May 31, 2021	Feb. 28, 2021	Feb. 29, 2020	Feb. 28, 2019	Jun. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Jun. 30, 2021	May 14, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash received for options exercised						$ 113,000
Share-based compensation expense					$ 572,000	$ 973,000
LTI Plan for 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted				108,718
LTI Plan for 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			120,053
LTI Plan for 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized	700,000
Shares granted	122,362
Shares available to grant								577,638
Director [Member] | LTI Plan for 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
Shares granted		19,827
Share-based Payment Arrangement [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized									516,000
Share-based Payment Arrangement [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						1 year
Share-based Payment Arrangement [Member] | Share-based Payment Arrangement, Employee [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period						3 years
Time Based Shares [Member] | LTI Plan for 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted				64,496
Time Based Shares [Member] | LTI Plan for 2019 [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				1 year
Shares granted				20,262
Time Based Shares [Member] | LTI Plan for 2019 [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Shares granted				44,234
Time Based Shares [Member] | LTI Plan for 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares granted			69,898
Time Based Shares [Member] | LTI Plan for 2020 [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Shares granted			19,760
Time Based Shares [Member] | LTI Plan for 2020 [Member] | Share-based Payment Arrangement, Tranche Two [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Shares granted			50,138
Time Based Shares [Member] | LTI Plan for 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Shares granted	61,181
Performance Shares [Member] | LTI Plan for 2019 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period				3 years
Shares granted				44,222
Performance Shares [Member] | LTI Plan for 2019 [Member] | Original Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards participants may earn				50.00%
Performance Shares [Member] | LTI Plan for 2019 [Member] | Original Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards participants may earn				100.00%
Performance Shares [Member] | LTI Plan for 2019 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards participants may earn				150.00%
Performance Shares [Member] | LTI Plan for 2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Shares granted			50,155
Vesting percentage			50.00%
Performance Shares [Member] | LTI Plan for 2020 [Member] | Original Threshold [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards participants may earn			50.00%
Performance Shares [Member] | LTI Plan for 2020 [Member] | Original Target [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards participants may earn			100.00%
Performance Shares [Member] | LTI Plan for 2020 [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percent of awards participants may earn			150.00%
Performance Shares [Member] | LTI Plan for 2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
Shares granted	61,181
Vesting percentage	50.00%

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Details Narrative) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Federal Home Loan Bank Advances [Member]
Debt Instrument [Line Items]
Long-term debt	$ 3,800,000	$ 57,900,000
Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit available	9,500,000
FRB Discount Window [Member]
Debt Instrument [Line Items]
Line of credit available	7,700,000
Correspondent Banks [Member]
Debt Instrument [Line Items]
Line of credit available	65,000,000
Federal Home Loan Bank Certificates and Obligations (FHLB) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Borrowing capacity	$ 479,200,000

SUBORDINATED DEBT (Details Narr

SUBORDINATED DEBT (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Apr. 20, 2021
Debt Instrument [Line Items]
Amortization of issuance costs	$ 17,000
Subordinated Debt [Member]
Debt Instrument [Line Items]
Principal amount			$ 20,000,000
Maturity Date	May 1, 2031
Earliest redemption date	May 1, 2026
Issuance costs	$ 377,000
Amortization of issuance costs	$ 17,000
Subordinated Debt [Member] | Debt Instrument, Redemption, Period One [Member]
Debt Instrument [Line Items]
Interest rate	4.875%
Subordinated Debt [Member] | Debt Instrument, Redemption, Period Two [Member]
Debt Instrument [Line Items]
Benchmark rate	90-day average secured overnight financing rate
Interest rate basis spread	4.12%

The following table provides in

The following table provides information regarding net pension benefit costs for the periods shown: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Retirement Benefits [Abstract]
Service cost	$ 454	$ 357	$ 1,362	$ 1,066
Interest cost	293	293	880	870
Expected return on assets	(439)	(382)	(1,317)	(1,146)
Amortization of actuarial loss	234	99	701	296
Net periodic pension cost	$ 542	$ 367	$ 1,626	$ 1,086

PENSION BENEFITS (Details Narra

PENSION BENEFITS (Details Narrative)	9 Months Ended
	Sep. 30, 2021Number
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Minimum working hours needed for eligibility	1,000

The following table presents _2

The following table presents information about interest rate swaps at September 30, 2021 and December 31, 2020: (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Notional Amount	$ 76,966	$ 71,888
Estimated Fair Value	0	0
Not Designated as Hedging Instrument [Member] | Loan-Level Swaps - Dealer [Member]
Derivative [Line Items]
Notional Amount	$ 16,093	$ 13,554
Weighted Average Maturity	11 years 4 months 24 days	12 years 6 months
Derivative, Average Variable Interest Rate	1.97%	1.97%
Derivative, Average Fixed Interest Rate	3.76%	3.74%
Estimated Fair Value	$ (735)	$ (1,440)
Not Designated as Hedging Instrument [Member] | Loan-Level Swaps - Borrower [Member]
Derivative [Line Items]
Notional Amount	$ 16,093	$ 13,554
Weighted Average Maturity	11 years 4 months 24 days	12 years 6 months
Derivative, Average Variable Interest Rate	3.76%	3.74%
Derivative, Average Fixed Interest Rate	1.97%	1.97%
Estimated Fair Value	$ 735	$ 1,440
Not Designated as Hedging Instrument [Member] | Forward Starting Loan Level Swaps Dealer [Member]
Derivative [Line Items]
Notional Amount	$ 22,390	$ 22,390
Weighted Average Maturity	10 years 9 months 18 days	11 years 6 months
Estimated Fair Value	$ 1,040	$ 114
Not Designated as Hedging Instrument [Member] | Forward Starting Loan Level Swaps Borrower [Member]
Derivative [Line Items]
Notional Amount	$ 22,390	$ 22,390
Weighted Average Maturity	10 years 9 months 18 days	11 years 6 months
Estimated Fair Value	$ (1,040)	$ (114)

The table below presents the fa

The table below presents the fair value of our derivative financial instruments designated as hedging and non-hedging instruments as well as our classification on the balance sheet as of September 30, 2021 and December 31, 2020. (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Derivative [Line Items]
Asset Derivatives	$ 1,775	$ 1,554
Liability Derivatives	1,775	1,554
Interest Rate Swap Agreement [Member] | Customers [Member] | Other Assets [Member]
Derivative [Line Items]
Asset Derivatives	735	1,440
Interest Rate Swap Agreement [Member] | Customers [Member] | Other Liabilities [Member]
Derivative [Line Items]
Liability Derivatives	1,040	114
Interest Rate Swap Agreement [Member] | Counterparties [Member]
Derivative [Line Items]
Asset Derivatives	1,040	114
Liability Derivatives	$ 735	$ 1,440

The table below presents the pr

The table below presents the pre-tax net losses of our cash flow hedges for the periods indicated: (Details) - Interest Rate Swap [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Loss Reclassified from OCI into Expense (Effective Portion)		$ 443	$ 282	$ 1,351
Cash Flow Hedging [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amount of Gain (Loss) Recognized in OCI on Derivative		$ (14)		$ (1,254)

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) - USD ($)		Mar. 16, 2016	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Derivative [Line Items]
Reclassification adjustment for loss realized in income for interest rate swap termination	[1]			$ 2,353,000	$ 402,000	$ 2,353,000
Derivative amount			76,966,000		76,966,000		$ 71,888,000
Derivative net asset position			$ 305,000		$ 305,000
Derivative net liability position							$ 1,500,000
Terminated Interest Rate Swap [Member]
Derivative [Line Items]
Loss on derivative		$ 3,400,000
Derivative amount		$ 32,500,000
[1]	Loss realized in income on interest rate swap termination is recognized as a component of non-interest income.  Income tax effects associated with the reclassification adjustments were $113,000 and $661,000 for the nine months ended September 30, 2021 and 2020.

Assets and liabilities measured

Assets and liabilities measured at fair value on a recurring basis are summarized below: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	$ 208,030	$ 201,880
Marketable equity securities	11,970	11,968
Interest rate swaps	1,775	1,554
Interest rate swaps	1,775	1,554
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale
Marketable equity securities	11,970	11,968
Interest rate swaps
Interest rate swaps
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	208,030	201,880
Marketable equity securities
Interest rate swaps	1,775	1,554
Interest rate swaps	1,775	1,554
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale
Marketable equity securities
Interest rate swaps
Interest rate swaps
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	208,030	201,880
Marketable equity securities	11,970	11,968
Interest rate swaps	1,775	1,554
Total assets	221,775	215,402
Interest rate swaps	1,775	1,554
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale
Marketable equity securities	11,970	11,968
Interest rate swaps
Total assets	11,970	11,968
Interest rate swaps
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale	208,030	201,880
Marketable equity securities
Interest rate swaps	1,775	1,554
Total assets	209,805	203,434
Interest rate swaps	1,775	1,554
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available-for-sale
Marketable equity securities
Interest rate swaps
Total assets
Interest rate swaps

The following table summarizes

The following table summarizes the fair value hierarchy used to determine each adjustment and the carrying value of the related assets at September 30, 2021 and December 31, 2020. (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total Losses		$ 13	$ 100	$ 119
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired loans					$ 150

The estimated fair values of ou

The estimated fair values of our financial instruments are as follows: (Details) - USD ($) $ in Thousands	Sep. 30, 2021	Dec. 31, 2020
Assets:
Cash and cash equivalents	$ 148,496	$ 87,444
Securities available-for-sale	208,030	201,880
Securities held-to-maturity	153,324
Marketable equity securities	11,970	11,968
Federal Home Loan Bank of Boston and other restricted stock	2,698	5,160
Loans - net	1,826,708	1,900,750
Accrued interest receivable	7,931	8,477
Mortgage servicing rights	561	157
Derivative assets	1,775	1,554
Liabilities:
Deposits	2,225,588	2,040,293
Long-term debt	3,807	57,945
Subordinated debt	20,954
Accrued interest payable	44	124
Derivative liabilities	1,775	1,554
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and cash equivalents	148,496	87,444
Securities available-for-sale
Securities held-to-maturity
Marketable equity securities	11,970	11,968
Federal Home Loan Bank of Boston and other restricted stock
Loans - net
Accrued interest receivable
Mortgage servicing rights
Derivative assets
Liabilities:
Deposits
Long-term debt
Accrued interest payable
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash and cash equivalents
Securities available-for-sale	208,030	201,880
Securities held-to-maturity	153,324
Marketable equity securities
Federal Home Loan Bank of Boston and other restricted stock
Loans - net
Accrued interest receivable
Mortgage servicing rights	561	157
Derivative assets	1,775	1,554
Liabilities:
Deposits
Long-term debt	3,807	57,945
Subordinated debt	20,954
Accrued interest payable
Derivative liabilities	1,775	1,554
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash and cash equivalents
Securities available-for-sale
Securities held-to-maturity
Marketable equity securities
Federal Home Loan Bank of Boston and other restricted stock	2,698	5,160
Loans - net	1,826,708	1,900,750
Accrued interest receivable	7,931	8,477
Mortgage servicing rights
Derivative assets
Liabilities:
Deposits	2,225,588	2,040,293
Long-term debt
Subordinated debt
Accrued interest payable	44	124
Derivative liabilities
Reported Value Measurement [Member]
Assets:
Cash and cash equivalents	148,496	87,444
Securities available-for-sale	208,030	201,880
Securities held-to-maturity	154,403
Marketable equity securities	11,970	11,968
Federal Home Loan Bank of Boston and other restricted stock	2,698	5,160
Loans - net	1,826,313	1,906,226
Accrued interest receivable	7,931	8,477
Mortgage servicing rights	515	153
Derivative assets	1,775	1,554
Liabilities:
Deposits	2,224,842	2,038,130
Long-term debt	3,829	57,850
Subordinated debt	19,623
Accrued interest payable	44	124
Derivative liabilities	$ 1,775	$ 1,554