Western New England Bancorp (WNEB) 10-Q 7 May 24 2024 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2024	May 01, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2024
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2024
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		21,627,690

CONSOLIDATED BALANCE SHEETS - U

CONSOLIDATED BALANCE SHEETS - UNAUDITED - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
ASSETS
Cash and due from banks	$ 19,244	$ 20,784
Federal funds sold	709	2,991
Interest-bearing deposits and other short-term investments	2,660	5,065
Cash and cash equivalents	22,613	28,840
Available-for-sale securities, at fair value	138,362	137,115
Held-to-maturity securities, at amortized cost (Fair value of $181,679 at March 31, 2024 and $187,692 at December 31, 2023)	221,242	223,370
Marketable equity securities, at fair value	222	196
Federal Home Loan Bank stock and other restricted stock, at cost	3,105	3,707
Loans, net of allowance for credit losses of $19,884 at March 31, 2024 and $20,267 at December 31, 2023	2,005,682	2,007,050
Premises and equipment, net	24,968	25,575
Accrued interest receivable	8,622	8,528
Bank-owned life insurance	75,598	75,145
Deferred tax asset, net	14,278	13,636
Goodwill	12,487	12,487
Core deposit intangible	1,719	1,813
Other assets	28,338	27,109
TOTAL ASSETS	2,557,236	2,564,571
Deposits:
Non-interest-bearing	559,928	579,594
Interest-bearing	1,583,819	1,564,150
Total deposits	2,143,747	2,143,744
Short-term borrowings	11,470	16,100
Long-term debt	120,646	120,646
Subordinated debt	19,722	19,712
Other liabilities	25,855	26,960
TOTAL LIABILITIES	2,321,440	2,327,162
SHAREHOLDERS’ EQUITY:
Preferred stock - $0.01 par value, 5,000,000 shares authorized, none outstanding at March 31, 2024 and December 31, 2023
Common stock - $0.01 par value, 75,000,000 shares authorized, 21,627,690 shares issued and outstanding at March 31, 2024; 21,666,807 shares issued and outstanding at December 31, 2023	216	217
Additional paid-in capital	125,213	125,448
Unearned compensation – ESOP	(2,272)	(2,394)
Unearned compensation - Equity Incentive Plan	(2,174)	(1,111)
Retained earnings	138,450	136,993
Accumulated other comprehensive loss	(23,637)	(21,744)
TOTAL SHAREHOLDERS’ EQUITY	235,796	237,409
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 2,557,236	$ 2,564,571

CONSOLIDATED BALANCE SHEETS -_2

CONSOLIDATED BALANCE SHEETS - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Held-to-maturity securities, fair value	$ 181,679	$ 187,692
Loans, allowance for loan losses	$ 19,884	$ 20,267
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	21,627,690	21,666,807
Common stock, outstanding	21,627,690	21,666,807

CONSOLIDATED STATEMENTS OF NET

CONSOLIDATED STATEMENTS OF NET INCOME - UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Interest and dividend income:
Residential and commercial real estate loans	$ 20,953	$ 18,252
Commercial and industrial loans	3,205	3,002
Consumer loans	83	75
Debt securities, taxable	2,112	2,076
Debt securities, tax-exempt	1	2
Marketable equity securities	1	71
Other investments	136	106
Short-term investments	113	54
Total interest and dividend income	26,604	23,638
Interest expense:
Deposits	9,293	4,103
Short-term borrowings	283	703
Long-term debt	1,428	74
Subordinated debt	254	254
Total interest expense	11,258	5,134
Net interest and dividend income	15,346	18,504
Reversal of credit losses	(550)	(388)
Net interest and dividend income after reversal of credit losses	15,896	18,892
Non-interest income:
Service charges and fees	2,219	2,187
Income from bank-owned life insurance	453	440
Loss on disposal of premises and equipment	(6)
Net unrealized gain on marketable equity securities	8
Gain on non-marketable equity investments		352
Total non-interest income	2,674	2,979
Non-interest expense:
Salaries and employee benefits	8,244	8,431
Occupancy	1,363	1,348
Furniture and equipment	484	486
Data processing	862	753
Software	699	514
Net ATM network	552	490
Professional fees	569	757
FDIC insurance assessment	410	352
Advertising	349	417
Other expenses	1,250	1,348
Total non-interest expense	14,782	14,896
Income before income taxes	3,788	6,975
Income tax provision	827	1,671
Net income	$ 2,961	$ 5,304
Earnings per common share:
Basic earnings per share	$ 0.14	$ 0.24
Weighted average shares outstanding	21,180,968	21,699,042
Diluted earnings per share	$ 0.14	$ 0.24
Weighted average diluted shares outstanding	21,271,323	21,716,869
Dividends per share	$ 0.07	$ 0.07

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income Statement [Abstract]
Net income	$ 2,961	$ 5,304
Unrealized gain (loss) on available-for-sale securities:
Unrealized holding (loss) gain	(2,536)	2,616
Net amount	(2,536)	2,616
Tax effect	643	(675)
Net-of-tax amount	(1,893)	1,941
Other comprehensive (loss) income	(1,893)	1,941
Comprehensive income	$ 1,068	$ 7,245

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]	Deferred Compensation, Share-Based Payments [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Dec. 31, 2022		$ 222	$ 128,899	$ (2,906)	$ (1,012)	$ 127,982	$ (25,042)	$ 228,143
Beginning balance, shares at Dec. 31, 2022		22,216,789
Cumulative effect accounting adjustment	[1]					9		9
Comprehensive income						5,304	1,941	7,245
Common stock held by ESOP committed to be released			52	128				180
Share-based compensation - equity incentive plan					529			529
Forfeited equity incentive plan shares reissued in connection with 2020 LTI performance share grant (19,761 shares)			180		(180)
Common stock repurchased		$ (1)	(1,350)					(1,351)
Common stock repurchased, shares		(143,896)
Issuance of common stock in connection with equity incentive plan		$ 1	1,348		(1,349)
Issuance of common stock in connection with equity incentive plan, shares		136,454
Forfeited equity incentive plan shares reissued in connection with 2023 LTI grant (2,742 shares)			27		(27)
Cash dividends declared and paid on common stock ($0.07 per share)						(1,533)		(1,533)
Ending balance, value at Mar. 31, 2023		$ 222	129,156	(2,778)	(2,039)	131,762	(23,101)	233,222
Ending balance, shares at Mar. 31, 2023		22,209,347
Beginning balance, value at Dec. 31, 2023		$ 217	125,448	(2,394)	(1,111)	136,993	(21,744)	237,409
Beginning balance, shares at Dec. 31, 2023		21,666,807
Comprehensive income						2,961	(1,893)	1,068
Common stock held by ESOP committed to be released			30	122				152
Share-based compensation - equity incentive plan					505			505
Forfeited equity incentive plan shares reissued in connection with 2021 LTI performance share grant (4,219 shares)			35		(35)
Common stock repurchased		$ (3)	(1,831)					(1,834)
Common stock repurchased, shares		(221,947)
Issuance of common stock in connection with equity incentive plan		$ 2	1,531		(1,533)
Issuance of common stock in connection with equity incentive plan, shares		182,830
Cash dividends declared and paid on common stock ($0.07 per share)						(1,504)		(1,504)
Ending balance, value at Mar. 31, 2024		$ 216	$ 125,213	$ (2,272)	$ (2,174)	$ 138,450	$ (23,637)	$ 235,796
Ending balance, shares at Mar. 31, 2024		21,627,690
[1]Represents gross transition adjustment amount of $ 13,000 4,000 Financial Instruments-Credit Losses on Financial Instruments

CONSOLIDATED STATEMENTS OF CH_2

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - UNAUDITED (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Common stock held by ESOP committed to be released (shares)	71,240	74,993
Forfeited equity incentive plan shares reissued in connection with 2020 LTI performance share grant, shares		19,761
Forfeited equity incentive plan shares reissued in connection with 2023 LTI grant, shares		2,742
Forfeited equity incentive plan shares reissued in connection with 2021 LTI performance share grant, shares	4,219
Cash dividends declared and paid on common stock (per share)	$ 0.07	$ 0.07
Accounting Standards Update 2016-13 [Member]
Cumulative effect accounting adjustment, before tax		$ 13
Cumulative effect accounting adjustment, tax		$ 4

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 2,961	$ 5,304
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Reversal of credit losses	(550)	(388)
Depreciation and amortization of premises and equipment	560	562
Net (accretion) amortization of purchase accounting adjustments	(71)	72
Amortization of core deposit intangible	94	94
Net amortization of premiums and discounts on securities and mortgage loans	291	330
Net amortization of deferred costs on loans	103	106
Net amortization of premiums on subordinated debt	10	9
Share-based compensation expense	505	529
ESOP expense	152	180
Net change in unrealized gain on marketable equity securities	(8)
Loss on the disposal of premises and equipment	6
Income from bank-owned life insurance	(453)	(440)
Net change in:
Accrued interest receivable	(94)	131
Other assets	(1,207)	(1,424)
Other liabilities	(1,127)	(11,043)
Net cash provided by (used in) operating activities	1,172	(5,978)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of held-to-maturity securities	(1,100)
Proceeds from calls, maturities and principal collections of held-to-maturity securities	3,126	3,065
Purchases of available-for-sale securities and marketable equity securities	(9,362)
Proceeds from calls, maturities, and principal collections of available-for-sale securities	5,374	2,949
Loan originations and principal payments, net	1,895	(15,770)
Redemption (purchase) of Federal Home Loan Bank of Boston stock	602	(3,821)
Purchases of premises and equipment	19	2
Proceeds from disposal of premises and equipment	12
Net cash provided by (used in) investing activities	566	(13,575)
CASH FLOWS FROM FINANCING ACTIVITIES:
Net increase (decrease) in deposits	3	(72,315)
Net (decrease) increase in short-term borrowings	(4,630)	57,640
Proceeds from issuance of long-term debt		30,000
Cash dividends paid on common stock	(1,504)	(1,533)
Common stock repurchased	(1,834)	(1,351)
Net cash (used in) provided by financing activities	(7,965)	12,441
NET CHANGE IN CASH AND CASH EQUIVALENTS:	(6,227)	(7,112)
Beginning of period	28,840	30,342
End of period	22,613	23,230
Supplemental cash flow information:
Interest paid	10,153	4,984
Taxes paid	$ 627	$ 3,077

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Pay vs Performance Disclosure [Table]
Net Income (Loss)	$ 2,961	$ 5,304

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Trading Arrangements, by Individual [Table]
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2024
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 Principles of Consolidation Estimates Basis of Presentation On January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses Topic326 Measurement of Credit Losses on Financial Instruments 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, 2023, included in our Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”). Reclassifications

EARNINGS PER SHARE

EARNINGS PER SHARE	3 Months Ended
	Mar. 31, 2024
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. There were no anti-dilutive shares outstanding during the three months ended March 31, 2024 and 2023. Earnings per common share for the three months ended March 31, 2024 and 2023 have been computed based on the following: Three Months Ended March 31, 2024 2023 (In thousands, except per share data) Net income applicable to common stock $ 2,961 $ 5,304 Average number of common shares issued 21,640 22,220 Less: Average unallocated ESOP Shares (291 ) (367 ) Less: Average unvested performance-based equity incentive plan shares (168 ) (154 ) Average number of common shares outstanding used to calculate basic earnings per common share 21,181 21,699 Effect of dilutive performance-based equity incentive plan shares 90 18 Average number of common shares outstanding used to calculate diluted earnings per common share 21,271 21,717 Basic earnings per share $ 0.14 $ 0.24 Diluted earnings per share $ 0.14 $ 0.24

COMPREHENSIVE INCOME (LOSS)

COMPREHENSIVE INCOME (LOSS)	3 Months Ended
	Mar. 31, 2024
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: March 31, 2024 December 31, 2023 (In thousands) Net unrealized losses on available-for-sale securities $ (31,702 ) $ (29,166 ) Tax effect 8,065 7,422 Net-of-tax amount (23,637 ) (21,744 ) Accumulated other comprehensive loss $ (23,637 ) $ (21,744 )

INVESTMENT SECURITIES

INVESTMENT SECURITIES	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
INVESTMENT SECURITIES	4. INVESTMENT SECURITIES Available-for-sale and held-to-maturity investment securities at March 31, 2024 and December 31, 2023 are summarized as follows: March 31, 2024 Amortized Gross Gross Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,927 $ — $ (3,095 ) $ 11,832 State and municipal bonds 135 — (1 ) 134 Corporate bonds 5,000 — (929 ) 4,071 Total debt securities 20,062 — (4,025 ) 16,037 Mortgage-backed securities: Government-sponsored mortgage-backed securities 143,410 — (26,321 ) 117,089 U.S. government guaranteed mortgage-backed securities 6,592 — (1,356 ) 5,236 Total mortgage-backed securities 150,002 — (27,677 ) 122,325 Total available-for-sale 170,064 — (31,702 ) 138,362 Held-to-maturity securities: Debt securities: U.S. Treasury securities 9,997 — (534 ) 9,463 U.S. government guaranteed obligations 1,100 3 — 1,103 Total debt securities 11,097 3 (534 ) 10,566 Mortgage-backed securities: Government-sponsored mortgage-backed securities 210,145 36 (39,068 ) 171,113 Total mortgage-backed securities 210,145 36 (39,068 ) 171,113 Total held-to-maturity 221,242 39 (39,602 ) 181,679 Total $ 391,306 $ 39 $ (71,304 ) $ 320,041 December 31, 2023 Amortized Cost Gross Gross Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,924 $ — $ (2,898 ) $ 12,026 State and municipal bonds 135 — — 135 Corporate bonds 8,000 — (1,038 ) 6,962 Total debt securities 23,059 — (3,936 ) 19,123 Mortgage-backed securities: Government-sponsored mortgage-backed securities 136,533 — (23,976 ) 112,557 U.S. government guaranteed mortgage-backed securities 6,689 — (1,254 ) 5,435 Total mortgage-backed securities 143,222 — (25,230 ) 117,992 Total available-for-sale 166,281 — (29,166 ) 137,115 Held-to-maturity securities: Debt securities: U.S. Treasury securities 9,995 — (545 ) 9,450 Total debt securities 9,995 — (545 ) 9,450 Mortgage-backed securities: Government-sponsored mortgage-backed securities 213,375 107 (35,240 ) 178,242 Total mortgage-backed securities 213,375 107 (35,240 ) 178,242 Total held-to-maturity 223,370 107 (35,785 ) 187,692 Total $ 389,651 $ 107 $ (64,951 ) $ 324,807 The following table presents the unrealized gains recognized on marketable equity securities for the periods indicated: Three Months Ended March 31 2024 2023 (In thousands) Net gains recognized during the period on marketable equity securities $ 8 $ — Net losses recognized during the period on equity securities sold during the period — — Unrealized gains recognized during the period on marketable equity securities still held at end of period $ 8 $ — At March 31, 2024, U.S. Treasury securities with a fair value of $ 9.5 7.8 169.4 The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2024, 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 in one year or less $ 135 $ 134 $ 4,994 $ 4,864 Due after one year through five years — — 5,003 4,599 Due after five years through ten years 19,927 15,903 — — Due after ten years — — 1,100 1,103 Total debt securities $ 20,062 $ 16,037 $ 11,097 $ 10,566 Mortgage-backed securities: Due after one year through five years $ 962 $ 916 $ — $ — Due after five years through ten years 844 767 — — Due after ten years 148,196 120,642 210,145 171,113 Total mortgage-backed securities 150,002 122,325 210,145 171,113 Total securities $ 170,064 $ 138,362 $ 221,242 $ 181,679 There were no sales of available-for-sale securities for the three months ended March 31, 2024 and 2023. Allowance for Credit Losses – Available-for-Sale Securities The Company measures expected credit losses on available-for-sale debt securities based upon the gain or loss position of the security. For available-for-sale debt securities in an unrealized loss position which the Company does not intend to sell, and it is not more likely than not that the Company will be required to sell the security before recovery of the Company’s amortized cost, the Company evaluates qualitative criteria to determine any expected loss. This includes among other items the financial health of, and specific prospects for the issuer, including whether the issuer is in compliance with the terms and covenants of the security. The Company also evaluates quantitative criteria including determining whether there has been an adverse change in expected future cash flows of the security. Available-for-sale securities which are guaranteed by government agencies do not currently have an allowance for credit loss as the Company determined these securities are either backed by the full faith and credit of the U.S. government and/or there is an unconditional commitment to make interest payments and to return the principal investment in full to investors when a debt security reaches maturity. 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. The Company will evaluate this position no less than annually, however, certain items which may cause the Company to change this methodology include legislative changes that remove a government-sponsored enterprise’s ability to draw funds from the U.S. government, or legislative changes to housing policy that reduce or eliminate the U.S. government’s implicit guarantee on such securities. Accrued interest receivable on available-for-sale securities guaranteed by government agencies totaled $ 360,000 333,000 51,000 178,000 Allowance for Credit Losses – Held-to-Maturity Securities The Company measures expected credit losses on held-to-maturity debt securities on a collective basis by security type and risk rating where available. The reserve for each pool is calculated based on a Probability of Default/Loss Given Default basis taking into consideration the expected life of each security. Held-to-maturity securities which are issued by the United States Treasury or are guaranteed by government agencies do not currently have an allowance for credit loss as the Company determined these securities are either backed by the full faith and credit of the U.S. government and/or there is an unconditional commitment to make interest payments and to return the principal investment in full to investors when a debt security reaches maturity. 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; FHLMC, FNMA, FFCB, or 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. The Company will evaluate this position no less than annually, however, certain items which may cause the Company to change this methodology include legislative changes that remove a government-sponsored enterprise’s ability to draw funds from the U.S. government, or legislative changes to housing policy that reduce or eliminate the U.S. government’s implicit guarantee on such securities. Any expected credit losses on held-to-maturity securities would be presented as an allowance for credit loss. Accrued interest receivable on held-to-maturity securities totaled $ 482,000 454,000 At March 31, 2024 and December 31, 2023, management attributed the unrealized losses 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. There was no credit loss during the three months ended March 31, 2024 and March 31, 2023, respectively. At March 31, 2024, there was one available-for-sale corporate bond that was rated below investment grade by one or more ratings agencies, while at December 31, 2023, there were two available-for-sale corporate bonds that were rated below investment grade by one or more ratings agencies. At March 31, 2024, the Company reviewed the financial strength of the one available-for-sale corporate bond below investment grade and concluded that the amortized cost remains supported by the expected future cash flows of the security. Information pertaining to investment securities with gross unrealized losses March 31, 2024 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 2 $ 9,295 $ 13 0.1 % 70 $ 107,794 $ 26,308 19.6 % U.S. government guaranteed mortgage-backed securities — — — — 9 5,236 1,356 20.6 Government-sponsored enterprise obligations — — — — 3 11,832 3,095 20.7 Corporate bonds — — — — 2 4,071 929 18.6 State and municipal bonds 1 134 1 0.7 — — — — Total available-for-sale 3 9,429 14 84 128,933 31,688 Held-to-maturity: U.S. Treasury securities — — — — % 2 9,463 534 5.3 % Government-sponsored mortgage-backed securities 3 5,711 80 1.4 37 159,059 38,988 19.7 Total held-to-maturity 3 5,711 80 39 168,522 39,522 Total 6 $ 15,140 $ 94 123 $ 297,455 $ 71,210 December 31, 2023 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 — $ — $ — — % 70 $ 112,557 $ 23,976 17.6 % U.S. government guaranteed mortgage-backed securities — — — — 9 5,435 1,254 18.7 Government-sponsored enterprise obligations — — — — 3 12,026 2,898 19.4 Corporate bonds — — — — 3 6,962 1,038 13.0 Total available-for-sale — — — 85 136,980 29,166 Held-to-maturity: U.S. Treasury securities — — — — % 2 9,450 545 5.5 % Government-sponsored mortgage-backed securities 4 7,097 56 0.8 36 164,395 35,184 17.6 Total held-to-maturity 4 7,097 56 38 173,845 35,729 Total 4 $ 7,097 $ 56 123 $ 310,825 $ 64,895

LOANS AND ALLOWANCE FOR CREDIT

LOANS AND ALLOWANCE FOR CREDIT LOSSES	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
LOANS AND ALLOWANCE FOR CREDIT LOSSES	5. LOANS AND ALLOWANCE FOR CREDIT LOSSES Major classifications of loans at the periods indicated were as follows: March 31, December 31, 2024 2023 (In thousands) Commercial real estate $ 1,083,910 $ 1,079,751 Residential real estate: Residential one-to-four family 615,277 612,315 Home equity 111,488 109,839 Total residential real estate 726,765 722,154 Commercial and industrial 207,307 217,447 Consumer 4,998 5,472 Total gross loans 2,022,980 2,024,824 Unearned premiums and deferred loan fees and costs, net 2,586 2,493 Total loans, net 2,025,566 2,027,317 Allowance for credit losses (19,884 ) (20,267 ) Net loans $ 2,005,682 $ 2,007,050 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 March 31, 2024 and December 31, 2023, the Company was servicing commercial loans participated out to various other institutions totaling $ 59.1 65.0 Residential real estate mortgages are originated by the Company both for its portfolio and for sale into the secondary market. The Company may sell its loans to institutional investors such as the FHLMC. Under loan sale and servicing agreements with the investor, the Company generally continues to service the residential real estate mortgages. The Company pays the investor an agreed upon rate on the loan, which is less than the interest rate received from the borrower. The Company retains the difference as a fee for servicing the residential real estate mortgages. The Company 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 March 31, 2024, include weighted average prepayment speed for the portfolio using the Public Securities Association Standard Prepayment Model ( 104 10.01 0.25 83.38 At March 31, 2024 and December 31, 2023, the Company was servicing residential mortgage loans owned by investors totaling $ 71.4 72.3 44,000 50,000 A summary of the activity in the balances of mortgage servicing rights follows: Three Months Ended March 31, 2024 2023 (In thousands) Balance at the beginning of year: $ 422 $ 550 Capitalized mortgage servicing rights — — Amortization (22 ) (35 ) Balance at the end of period $ 400 $ 515 Fair value at the end of period $ 707 $ 779 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 there are concerns regarding the collectability of the loan. 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. Allowance for Credit Losses. The allowance for credit losses is an estimate of expected losses inherent within the Company’s existing loans held for investment portfolio. The allowance for credit losses for loans held for investment, as reported in our consolidated balance sheet, is adjusted by a credit loss expense, which is reported in earnings, and reduced by the charge-off of loan amounts, net of recoveries. Accrued interest receivable on loans held for investment was $ 7.6 7.5 The loan loss estimation process involves procedures to appropriately consider the unique characteristics of loan portfolio segments, which consist of commercial real estate loans, residential real estate loans, commercial and industrial loans, and consumer loans. These segments are further disaggregated into loan classes, the level at which credit risk is monitored. For each of these pools, the Company generates cash flow projections at the instrument level wherein payment expectations are adjusted for estimated prepayment speed, curtailments, time to recovery, probability of default, and loss given default. The modeling of expected prepayment speeds, curtailment rates, and time to recovery are based on historical internal data. The quantitative component of the ACL on loans is model-based and utilizes a forward-looking macroeconomic forecast. The Company uses a discounted cash flow method, incorporating probability of default and loss given default forecasted based on statistically derived economic variable loss drivers, to estimate expected credit losses. This process includes estimates which involve modeling loss projections attributable to existing loan balances, and considering historical experience, current conditions, and future expectations for pools of loans over a reasonable and supportable forecast period. The historical information either experienced by the Company or by a selection of peer banks, when appropriate, is derived from a combination of recessionary and non-recessionary performance periods for which data is available. Commercial real estate loans Residential real estate loans 97 90 85 80 85 Commercial and industrial loans Consumer loans Discounted cash flow method (“DCF”) In estimating the component of the allowance for credit losses for loans that share similar risk characteristics with other loans, such loans are segregated into loan classes. Loans are designated into loan classes based on loans pooled by product types and similar risk characteristics or areas of risk concentration. In determining the allowance for credit losses, we derive an estimated credit loss assumption from a model that categorizes loan pools based on loan type and purpose. This model calculates an expected loss percentage for each loan class by considering the probability of default, using life-of-loan analysis periods for all loan segments, and the historical severity of loss, based on the aggregate net lifetime losses incurred per loan class. The default and severity factors used to calculate the allowance for credit losses for loans that share similar risk characteristics with other loans are adjusted for differences between the historical period used to calculate historical default and loss severity rates and expected conditions over the remaining lives of the loans in the portfolio related to: (1) lending policies and procedures; (2) international, national, regional and local economic business conditions and developments that affect the collectability of the portfolio; (3) the nature and volume of the loan portfolio including the terms of the loans; (4) the experience, ability, and depth of the lending management and other relevant staff; (5) the volume and severity of past due and adversely classified loans and the volume of nonaccrual loans; (6) the quality of our loan review system and (7) the value of underlying collateral for collateralized loans. Additional factors include the existence and effect of any concentrations of credit, and changes in the level of such concentrations and the effect of external factors such as competition and legal and regulatory requirements on the level of estimated credit losses in the existing portfolio. Such factors are used to adjust the historical probabilities of default and severity of loss so that they reflect management expectation of future conditions based on a reasonable and supportable forecast. The Company uses regression analysis of historical internal and peer data to determine which variables are best suited to be economic variables utilized when modeling lifetime probability of default and loss given default. This analysis also determines how expected probability of default and loss given default will react to forecasted levels of the economic variables. For all DCF models, management has determined that four quarters represents a reasonable and supportable forecast period and reverts back to a historical loss rate over four quarters on a straight-line basis. Other internal and external indicators of economic forecasts are also considered by management when developing the forecast metrics. Individually evaluated financial assets For a loan that does not share risk characteristics with other loans, expected credit loss is measured based on net realizable value, that is, the difference between the discounted value of the expected future cash flows, based on the original effective interest rate, and the amortized cost basis of the loan. For these loans, we recognize expected credit loss equal to the amount by which the net realizable value of the loan is less than the amortized cost basis of the loan (which is net of previous charge-offs and deferred loan fees and costs), except when the loan is collateral dependent, that is, when the borrower is experiencing financial difficulty and repayment is expected to be provided substantially through the operation or sale of the collateral. In these cases, expected credit loss is measured as the difference between the amortized cost basis of the loan and the fair value of the collateral. The fair value of the collateral is adjusted for the estimated cost to sell if repayment or satisfaction of a loan is dependent on the sale (rather than only on the operation) of the collateral. Allowance for credit losses on off-balance sheet credit exposures, including unfunded loan commitments The Company maintains a separate allowance for credit losses from off-balance-sheet credit exposures, including unfunded loan commitments, which is included in other liabilities on the balance sheet. Management estimates the amount of expected losses by calculating a commitment usage factor over the contractual period for exposures that are not unconditionally cancellable by the Company and applying the loss factors used in the ACL methodology to the results of the usage calculation to estimate the liability for credit losses related to unfunded commitments for each loan type. No credit loss estimate is reported for off-balance-sheet credit exposures that are unconditionally cancellable by the Company, such as undrawn amounts under such arrangements that may be drawn prior to the cancellation of the arrangement. The allowance for credit losses on off-balance sheet credit exposures is adjusted as credit loss expense. Categories of off-balance sheet credit exposures correspond to the loan portfolio segments described above. Management evaluates the need for a reserve on unfunded loan commitments in a manner consistent with loans held for investment. An analysis of changes in the allowance for credit losses by segment for the three months ended March 31, 2024 and March 31, 2023 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Balance at December 31, 2023 $ 15,141 $ 2,548 $ 2,537 $ 41 $ — $ 20,267 Provision (reversal) for credit losses (398 ) (71 ) (95 ) 114 — (450 ) Charge-offs — (7 ) (1 ) (59 ) — (67 ) Recoveries 28 11 67 28 — 134 Balance at March 31, 2024 $ 14,771 $ 2,481 $ 2,508 $ 124 $ — $ 19,884 Allowance for credit losses for off-balance sheet exposures Balance at December 31, 2023 $ 375 $ 163 $ 59 $ — $ — $ 597 Provision (reversal) for credit losses (111 ) 21 (10 ) — — (100 ) Balance at March 31, 2024 $ 264 $ 184 $ 49 $ — $ — $ 497 Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Balance at December 31, 2022 $ 12,199 $ 4,312 $ 3,160 $ 245 $ 15 $ 19,931 Cumulative effect of change in accounting principle 3,989 (2,518 ) (75 ) (199 ) (15 ) 1,182 Adjusted Beginning Balance $ 16,188 $ 1,794 $ 3,085 46 — $ 21,113 Provision (reversal) for credit losses (349 ) 83 3 31 — (232 ) Charge-offs (414 ) — (1,413 ) (35 ) — (1,862 ) Recoveries — — 1 11 — 12 Balance at March 31, 2023 $ 15,425 $ 1,877 $ 1,676 $ 53 $ — $ 19,031 Allowance for credit losses for off-balance sheet exposures Balance at December 31, 2022 $ — $ — $ — $ — $ — $ — Cumulative effect of change in accounting principle 611 267 40 — — 918 Provision (reversal) for credit losses (93 ) (62 ) (1 ) — — (156 ) Balance at March 31, 2023 $ 518 $ 205 $ 39 $ — $ — $ 762 The $ 550,000 450,000 100,000 100,000 12.4 7.6 149.9 162.3 The provision for credit losses was determined by a number of factors: the continued strong credit performance of the Company’s loan portfolio, changes in the loan portfolio mix and management’s consideration of existing economic conditions and the economic outlook from the Federal Reserve’s actions to control inflation. Management continues to monitor macroeconomic variables related to increasing interest rates, inflation and the concerns of an economic downturn, and believes it is appropriately reserved for the current economic environment and supportable forecast period. Past Due Loans. The following tables present an age analysis of past due 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) March 31, 2024 Commercial real estate $ 522 $ 3 $ 799 $ 1,324 $ 1,082,586 $ 1,083,910 $ 1,035 Residential real estate: Residential one-to-four family 1,547 514 800 2,861 612,416 615,277 4,492 Home equity 347 — 101 448 111,040 111,488 101 Total: 1,894 514 901 3,309 723,456 726,765 4,593 Commercial and industrial 60 — 9 69 207,238 207,307 201 Consumer 7 — 7 14 4,984 4,998 8 Total loans $ 2,483 $ 517 $ 1,716 $ 4,716 $ 2,018,264 $ 2,022,980 $ 5,837 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) December 31, 2023 Commercial real estate $ 272 $ 647 $ 403 $ 1,322 $ 1,078,429 $ 1,079,751 $ 1,347 Residential real estate: Residential one-to-four family 2,354 934 881 4,169 608,146 612,315 4,739 Home equity 263 112 102 477 109,362 109,839 109 Total: 2,617 1,046 983 4,646 717,508 722,154 4,848 Commercial and industrial 20 — 8 28 217,419 217,447 218 Consumer 3 — — 3 5,469 5,472 8 Total loans $ 2,912 $ 1,693 $ 1,394 $ 5,999 $ 2,018,825 $ 2,024,824 $ 6,421 At March 31, 2024, total past due loans totaled $ 4.7 0.23 6.0 0.30 Nonaccrual Loans. Accrual of interest on loans is generally discontinued when contractual payment of principal or interest becomes past due 90 days or, if in management’s judgment, reasonable doubt exists as to the full timely collection of interest. Exceptions may be made if the loan has matured and is in the process of renewal or is well-secured and in the process of collection. When a loan is placed on nonaccrual status, interest accruals cease and uncollected accrued interest is reversed and charged against current interest income. Interest payments on nonaccrual loans are generally applied to principal. If collection of the principal is reasonably assured, interest payments are recognized as income on the cash basis. Loans are generally returned to accrual status when principal and interest payments are current, full collectability of principal and interest is reasonably assured and a consistent record of at least six consecutive months of performance has been achieved. The following table presents information regarding nonaccrual loans as of the dates indicated: As of March 31, 2024 For the Three Months Ended March 31, 2024 Nonaccrual Loans with Allowance for Credit Loss Nonaccrual Loans Without Allowance for Credit Loss Total Nonaccrual Loans Accrued Interest Receivable Reversed from Income (In thousands) Commercial real estate $ — $ 1,035 $ 1,035 $ 24 Residential real estate: Residential — 4,492 4,492 55 Home equity — 101 101 3 Commercial and industrial — 201 201 39 Consumer 8 — 8 — Total loans $ 8 $ 5,829 $ 5,837 $ 121 As of December 31, 2023 For the Three Months Ended March 31, 2023 Nonaccrual Loans with Allowance for Credit Loss Nonaccrual Loans Without Allowance for Credit Loss Total Nonaccrual Loans Accrued Interest Receivable Reversed from Income (In thousands) Commercial real estate $ — $ 1,347 $ 1,347 $ 23 Residential real estate: Residential — 4,739 4,739 45 Home equity — 109 109 3 Commercial and industrial — 218 218 58 Consumer — 8 8 — Total loans $ — $ 6,421 $ 6,421 $ 129 At March 31, 2024 and December 31, 2023, nonaccrual loans totaled $ 5.8 0.29 6.4 0.32 Individually Evaluated Collateral Dependent Loans. Loans that do not share similar risk characteristics with loans that are pooled into portfolio segments are individually evaluated. A loan is considered collateral dependent when, based on current information and events, the borrower is experiencing financial difficulty and repayment, both principal and interest, is expected to be provided substantially through the operation or sale of the collateral. Loans that are rated Substandard, have a loan-to-value above 85% or have demonstrated a specific weakness (e.g. slow payment history, industry weakness, or other clear credit deterioration) may be considered for individual evaluation if they are determined not to share similar risk characteristics within the segment. Individually evaluated assets will be measured primarily using the collateral dependent financial asset practical expedient, although the discounted cash flow method may be used when management deems it more appropriate or collateral values cannot be supported. For individually evaluated assets, an ACL is determined separately for each financial asset. At March 31, 2024, the Company had $ 822,000 14.8 The following table summarizes the Company’s individually evaluated collateral dependent loans by class as of the dates indicated: As of March 31, 2024 Recorded Investment Related Allowance (In thousands) With no related allowance recorded: Commercial real estate $ 10,063 $ — Residential real estate: Residential one-to-four family 4,665 — Home equity 101 — Commercial and industrial 305 — Consumer — — Loans with no related allowance recorded $ 15,134 $ — With an allowance recorded: Commercial real estate $ — $ — Residential real estate: Residential one-to-four family — — Home equity — — Commercial and industrial 517 179 Consumer — — Loans with an allowance recorded $ 517 $ 179 Total individually evaluated loans $ 15,651 $ 179 As of December 31, 2023 Recorded Investment Related Allowance (In thousands) With no related allowance recorded: Commercial real estate $ 10,648 $ — Residential real estate: Residential one-to-four family 5,163 — Home equity 109 — Commercial and industrial 13,273 — Consumer 8 — Loans with no related allowance recorded $ 29,201 $ — With an allowance recorded: Commercial real estate $ — $ — Residential real estate: Residential one-to-four family — — Home equity — — Commercial and industrial 517 179 Consumer — — Loans with an allowance recorded $ 517 $ 179 Total individually evaluated loans $ 29,718 $ 179 Modified Loans. Loans are designated as modified 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 Company 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 Company’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. There were no loan modifications during the three months ended March 31, 2024 and for the year ended December 31, 2023. During the three months ended March 31, 2024 and 2023, no modified loans defaulted (defined as 30 days or more past due) within 12 months of restructuring. There were no charge-offs on modified loans during the three months ended March 31, 2024 or 2023. Credit Quality Information. The Company utilizes an eight-grade internal loan rating system for commercial real estate and commercial and industrial loans. The Company’s internal credit risk grades are based on the definitions currently utilized by the banking regulatory agencies. The grades assigned and definitions are as follows, and loans graded excellent, above average, good (risk ratings 1-4) are treated as “pass” for grading purposes. All loans risk rated Special Mention (5), Substandard (6), Doubtful (7) and Loss (8) are listed on the Company’s criticized report and are reviewed not less than on a quarterly basis to assess the level of risk and to ensure that appropriate actions are being taken to minimize potential loss exposure. In addition, the Company closely monitors classified loans, defined as Substandard, Doubtful, and loss for signs of deterioration to mitigate the growth in nonaccrual loans, including performing additional due diligence, updating valuations and requiring additional financial reporting from the borrower. Loans identified as containing a loss are partially charged-off or fully charged-off. 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 risk rated as “Substandard” and individually evaluated. Loans rated 1 – 4 Loans rated 5 Special Mention Loans rated 6 Substandard Loans rated 7 Doubtful 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 loan 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 tables detail the amortized cost balances of the Company’s loan portfolio presented by risk rating and origination year as of the periods presented. Term Loan Origination by Year Revolving Loans March 31, 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial Real Estate: Pass (Rated 1- 4) $ 8,558 $ 43,495 $ 187,387 $ 235,012 $ 111,791 $ 403,778 $ 77,388 $ — $ 1,067,409 Special Mention (Rated 5) — — — — 174 3,684 693 — 4,551 Substandard (Rated 6) — — — — 8,492 3,458 — — 11,950 Total commercial real estate loans $ 8,558 $ 43,495 $ 187,387 $ 235,012 $ 120,457 $ 410,920 $ 78,081 $ — $ 1,083,910 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 8,558 $ 43,495 $ 187,387 $ 235,012 $ 120,457 $ 409,885 $ 78,081 $ — $ 1,082,875 Nonperforming — — — — — 1,035 — — 1,035 Residential One-to-Four Family: Pass $ 11,361 $ 57,844 $ 91,010 $ 93,134 $ 123,881 $ 224,744 $ 7,904 $ — $ 609,878 Substandard — — 446 484 872 3,597 — — 5,399 Total residential one-to-four family $ 11,361 $ 57,844 $ 91,456 $ 93,618 $ 124,753 $ 228,341 $ 7,904 $ — $ 615,277 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 11,361 $ 57,844 $ 91,010 $ 93,134 $ 123,881 $ 225,651 $ 7,904 $ — $ 610,785 Nonperforming — — 446 484 872 2,690 — — 4,492 Home Equity: Pass $ 2,599 $ 10,003 $ 10,462 $ 6,680 $ 6,849 $ 11,976 $ 60,612 $ 2,206 $ 111,387 Substandard — — — — — — 90 11 101 Total home equity loans $ 2,599 $ 10,003 $ 10,462 $ 6,680 $ 6,849 $ 11,976 $ 60,702 $ 2,217 $ 111,488 Current period gross charge-offs $ — $ — $ — $ — $ — $ 7 $ — $ — $ 7 Payment Performance: Performing $ 2,599 $ 10,003 $ 10,462 $ 6,680 $ 6,849 $ 11,976 $ 60,612 $ 2,206 $ 111,387 Nonperforming — — — — — — 90 11 101 Term Loans Originated by Year Revolving Loans March 31, 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial and Industrial: Pass (Rated 1- 4) $ 6,463 $ 23,412 $ 34,411 $ 30,525 $ 17,998 $ 25,793 $ 53,851 $ 68 $ 192,521 Special Mention (Rated 5) — 6,200 95 35 — 2,052 2,266 — 10,648 Substandard (Rated 6) — — — — 527 74 3,537 — 4,138 Total commercial and industrial loans $ 6,463 $ 29,612 $ 34,506 $ 30,560 $ 18,525 $ 27,919 $ 59,654 $ 68 $ 207,307 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 1 $ 1 Payment Performance: Performing $ 6,463 $ 29,612 $ 34,506 $ 30,560 $ 18,525 $ 27,913 $ 59,459 $ 68 $ 207,106 Nonperforming — — — — — 6 195 — 201 Consumer: Pass $ 299 $ 1,895 $ 1,205 $ 449 $ 163 $ 210 $ 770 $ — $ 4,991 Substandard — — — — — 7 — — 7 Total consumer loans $ 299 $ 1,895 $ 1,205 $ 449 $ 163 $ 217 $ 770 $ — $ 4,998 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 59 $ 59 Payment Performance: Performing $ 299 $ 1,895 $ 1,205 $ 449 $ 163 $ 210 $ 769 $ — $ 4,990 Nonperforming — — — — — 7 1 — 8 Term Loan Origination by Year Revolving Loans 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial Real Estate: Pass (Rated 1- 4) $ 42,764 $ 175,829 $ 228,739 $ 113,631 $ 91,353 $ 320,806 $ 81,483 $ 9,289 $ 1,063,894 Special Mention (Rated 5) — — — 180 915 3,237 164 — 4,496 Substandard (Rated 6) — — — 8,013 — 3,348 — — 11,361 Total commercial real estate loans $ 42,764 $ 175,829 $ 228,739 $ 121,824 $ 92,268 $ 327,391 $ 81,647 $ 9,289 $ 1,079,751 Current period gross charge-offs $ — $ — $ — $ — $ — $ 764 $ — $ — $ 764 Payment Performance: Performing $ 42,764 $ 175,829 $ 228,739 $ 121,824 $ 92,268 $ 326,044 $ 81,647 $ 9,289 $ 1,078,404 Nonperforming — — — — — 1,347 — — 1,347 Residential One-to-Four Family: Pass $ 59,257 $ 88,213 $ 94,290 $ 125,917 $ 54,263 $ 174,688 $ 10,401 $ — $ 607,029 Substandard — 447 495 445 — 3,899 — — 5,286 Total residential one-to-four family $ 59,257 $ 88,660 $ 94,785 $ 126,362 $ 54,263 $ 178,587 $ 10,401 $ — $ 612,315 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 59,257 $ 88,213 $ 94,290 $ 125,540 $ 54,263 $ 175,612 $ 10,401 $ — $ 607,576 Nonperforming — 447 495 822 — 2,975 — — 4,739 Home Equity: Pass $ 9,937 $ 10,885 $ 6,861 $ 7,108 $ 5,234 $ 7,261 $ 60,115 $ 2,329 $ 109,730 Substandard — — — — — 7 90 12 109 Total home equity loans $ 9,937 $ 10,885 $ 6,861 $ 7,108 $ 5,234 $ 7,268 $ 60,205 $ 2,341 $ 109,839 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 9,937 $ 10,885 $ 6,861 $ 7,108 $ 5,234 $ 7,261 $ 60,115 $ 2,329 $ 109,730 Nonperforming — — — — — 7 90 12 109 Term Loans Originated by Year Revolving Loans 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial and Industrial: Pass (Rated 1- 4) $ 31,108 $ 35,705 $ 26,553 $ 19,780 $ 19,765 $ 8,825 $ 57,393 $ 69 $ 199,198 Special Mention (Rated 5) — 101 — — 8 498 707 — 1,314 Substandard (Rated 6) — — 1,408 8,156 — 85 7,286 — 16,935 Total commercial and industrial loans $ 31,108 $ 35,806 $ 27,961 $ 27,936 $ 19,773 $ 9,408 $ 65,386 $ 69 $ 217,447 Current period gross charge-offs $ — $ 147 $ — $ — $ — $ 221 $ — $ 1,193 $ 1,561 Payment Performance: Performing $ 31,108 $ 35,806 $ 27,961 $ 27,936 $ 19,773 $ 9,401 $ 65,175 $ 69 $ 217,229 Nonperforming — — — — — 7 211 — 218 Consumer: Pass $ 2,168 $ 1,381 $ 524 $ 241 $ 68 $ 270 $ 812 $ — $ 5,464 Substandard — — — — — 8 — — 8 Total consumer loans $ 2,168 $ 1,381 $ 524 $ 241 $ 68 $ 278 $ 812 $ — $ 5,472 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ 3 $ 182 $ 185 Payment Performance: Performing $ 2,168 $ 1,381 $ 524 $ 241 $ 68 $ 271 $ 811 $ — $ 5,464 Nonperforming — — — — — 7 1 — 8

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES	3 Months Ended
	Mar. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLES	6. GOODWILL AND OTHER INTANGIBLES Goodwill Goodwill is measured as the excess of the cost of a business combination over the sum of the amounts assigned to identifiable intangible assets acquired less liabilities assumed. Goodwill is not amortized but rather assessed for impairment annually or more frequently if circumstances warrant. Management has the option of first assessing qualitative factors, such as events and circumstances, to determine whether it is more likely than not, meaning a likelihood of more than 50%, the value of a reporting unit is less than its carrying amount. If, after considering all relevant events and circumstances, management determines it is not more likely than not the fair value of a reporting unit is less than its carrying amount, then performing an impairment test is unnecessary. At March 31, 2024 and December 31, 2023, the Company’s goodwill was related to the acquisition of Chicopee Savings Bank in October 2016. For the three months ended March 31, 2024, management determined that it was not more likely than not the fair value of the reporting unit was less than its carrying amount. If management had determined otherwise, a fair value analysis would have been completed to determine the impairment and necessary write-down of goodwill. For the year ended December 31, 2023, the carrying value of the Company’s equity exceeded its market capitalization for a period in 2023 due to events affecting the banking industry, specifically three large bank failures and the continued impact of higher interest rates, resulting in declines in bank stock prices. Therefore, the Company completed a fair value analysis to assess potential impairment and any necessary write-down of the carrying value of goodwill. Management used valuation multiples from recent comparable whole bank merger and acquisition transactions to determine the estimated fair value of the Company. Based on the results of this analysis, management determined that the fair value of the Company exceeded the carrying value of the reporting unit, and as a result, goodwill was not impaired at December 31, 2023. Core Deposit Intangibles In connection with the acquisition of Chicopee, the Bank recorded a core deposit intangible of $ 4.5 twelve years 94,000 375,000 219,000

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	7. SHARE-BASED COMPENSATION Restricted Stock Awards. In May 2021, the Company’s shareholders approved the 2021 Omnibus Incentive Plan, a stock-based compensation plan (the “2021 Omnibus Plan”). Under the 2021 Omnibus Plan, up to 700,000 On an annual basis, the Compensation Committee (the “Committee”) approves long-term incentive awards out of the 2021 Omnibus 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 one-year In May 2021, 122,362 122,362 61,181 three-year 61,181 50 three-year The threshold, target and stretch metrics under the 2021 Incentive Plan are as follows: 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 As of December 31, 2023, the three-year performance period for the 2021 Long-Tern Incentive Plan (the “2021 LTI Plan”) ended. The 2021 LTI Plan included a “catch-up” provision allowing unearned performance-based shares from the 2021 and 2022 performance periods to be earned at the end of the three-year period based on the final year performance. Of the 50,205 69,376 In March 2022, 137,151 137,151 77,463 17,775 one year 59,688 three-year 59,688 50 three-year The threshold, target and stretch metrics under the 2022 Incentive Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2022 7.79 % 8.20 % 8.61 % December 31, 2023 7.93 % 8.35 % 8.77 % December 31, 2024 8.03 % 8.45 % 8.87 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulatzive Diluted Earnings Per Share $ 2.35 $ 2.61 $ 2.85 In March 2023, 139,196 139,196 78,697 18,198 one year 60,499 three-year 60,499 50 three-year The threshold, target and stretch metrics under the 2023 Incentive Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2023 8.00 % 8.45 % 8.85 % December 31, 2024 8.75 % 9.25 % 9.75 % December 31, 2025 9.00 % 9.50 % 10.00 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 2.39 $ 2.65 $ 2.89 In March 2024, 167,878 167,878 94,667 21,456 one year 73,211 three-year 73,211 50 three-year The threshold, target and stretch metrics under the 2024 Incentive Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2024 5.05 % 5.61 % 6.17 % December 31, 2025 6.18 % 6.86 % 7.55 % December 31, 2026 7.30 % 8.11 % 8.92 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 2.25 $ 2.50 $ 2.75 At March 31, 2024, there were 121,203 A summary of the status of restricted stock awards at March 31, 2024 and 2023 is presented below: Shares Weighted Average Grant Date Fair Value ($) Balance at December 31, 2023 220,635 9.29 Shares granted 187,049 8.38 Shares vested (69,376 ) 8.34 Balance at March 31, 2024 338,308 8.98 Shares Weighted Average Grant Date Fair Value ($) Balance at December 31, 2022 206,092 8.85 Shares granted 158,957 9.79 Shares vested (59,270 ) 9.11 Balance at March 31, 2023 305,779 9.29 We recorded total expense for restricted stock awards of $ 505,000 529,000

SHORT-TERM BORROWINGS AND LONG-

SHORT-TERM BORROWINGS AND LONG-TERM DEBT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
SHORT-TERM BORROWINGS AND LONG-TERM DEBT	8. SHORT-TERM BORROWINGS AND LONG-TERM DEBT We utilize short-term borrowings and long-term debt as additional sources of funds to finance our lending and investing activities and to provide liquidity for daily operations. Total borrowing capacity includes borrowing arrangements at the FHLB, the Federal Reserve Bank (“FRB”), and borrowing arrangements with correspondent banks. Short-term borrowings can consist of FHLB advances with an original maturity of less than one year, overnight Ideal Way line of credit advances and other borrowings held as collateral for customer swap arrangements. Other borrowings totaled $6.7 5.33 $6.1 5.33 4.8 5.54 10 5.56 FHLB advances 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 March 31, 2024, the Bank had $ 508.1 The Company also has a standing available overnight Ideal Way line of credit with the FHLB of $ 9.5 72.2 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 a $ 15 10 Long-term debt consists of FHLB and FRB advances with an original maturity of one year or more. On March 12, 2023, the FRB made available the BTFP, which enhances the ability of banks to borrow greater amounts against certain high-quality, unencumbered investments at par value. During 2023, the Company participated in the BTFP, which enabled the Company to pay off higher rate FHLB advances. With the BTFP, the Company has the ability to pay off the BTFP advance prior to maturity without incurring a penalty or termination fee. Interest expense on BTFP advances is payable at maturity. At March 31, 2024 and December 31, 2023, long-term debt consisted of $ 30.6 4.81 90 4.71

SUBORDINATED DEBT

SUBORDINATED DEBT	3 Months Ended
	Mar. 31, 2024
Debt Disclosure [Abstract]
SUBORDINATED DEBT	9. SUBORDINATED DEBT On April 20, 2021, the Company completed an offering of $ 20 4.875 19.7 Unless earlier redeemed, the Notes mature on May 1, 2031 May 1, 2026 4.875 90-day average secured overnight financing rate 412 May 1, 2026 The Notes are presented net of issuance costs of $278,000 $10,000 $9,000

DERIVATIVES AND HEDGING ACTIVIT

DERIVATIVES AND HEDGING ACTIVITIES	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVES AND HEDGING ACTIVITIES	10. 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. Fair Value Hedges of Interest Rate Risk. The Company is exposed to changes in the fair value of certain pools of fixed-rate assets due to changes in benchmark interest rates. The Company uses interest rate swaps to manage its exposure to changes in fair value on these instruments attributable to changes in the designated benchmark interest rate. The Company's interest rate swaps designated as fair value hedges involve the payment of fixed-rate amounts to a counterparty in exchange for the Company receiving variable-rate payments over the life of the agreements without the exchange of the underlying notional amount. For derivatives designated and that qualify as fair value hedges, the gain or loss on the derivative as well as the offsetting loss or gain on the hedged item attributable to the hedged risk are recognized in interest income . As of March 31, 2024 and December 31, 2023, the following amounts were recorded on the balance sheet related to cumulative basis adjustment of fair value hedges: Carrying Amount of Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets/(Liabilities) Item in the Balance Sheet in which the Hedged Item is Included At March 31, 2024 At December 31, 2023 At March 31, 2024 At December 31, 2023 (In thousands) Loans $ 199,192 $ 199,393 $ (808 ) $ (607 ) Total $ 199,192 $ 199,393 $ (808 ) $ (607 ) These amounts include the amortized cost basis of closed portfolios of fixed rate residential loans used to designate hedging relationships in which the hedged item is the stated amount of assets in the closed portfolio anticipated to be outstanding for the designated hedged period. At March 31, 2024, the amortized cost basis of the closed portfolios used in these hedging relationships was $454.1 808,000 200 461.2 607,000 200 0.6 4.43 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 March 31, 2024 and December 31, 2023. Asset Derivatives Liability Derivatives March 31, 2024 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Hedging Derivatives Interest rate swaps - fair value hedges $ 845 $ — Derivatives not designated as hedging instruments: Interest rate swap – with customer counterparties — 5,875 Interest rate swap – with dealer counterparties 5,875 — Total derivatives Other Assets $ 6,720 Other Liabilities $ 5,875 Asset Derivatives Liability Derivatives December 31, 2023 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Hedging Derivatives Interest rate swaps - fair value hedges $ 651 $ — Derivatives not designated as hedging instruments: Interest rate swap – with customer counterparties — 5,239 Interest rate swap – with dealer counterparties 5,239 — Total derivatives Other Assets $ 5,890 Other Liabilities $ 5,239 Effect of Derivative Instruments in the Consolidated Statements of Net Income. The table below presents the effect of the Company’s fair value hedge derivative on the statements of net income as of March 31, 2024. Location and Amount of Gain (Loss) Recognized in Income on Fair Value Hedging Relationships Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (In thousands) Interest Income Interest Income Total amounts of income line items presented in the statements of net income in which the effects of fair value hedges are recorded $ 443 $ — Gain (loss) on fair value hedging relationships Interest rate contracts: Hedged items $ (6 ) — Derivatives designated as hedging instruments 449 — There were no gains or losses recognized in accumulated other comprehensive income during the three months ended March 31, 2024. 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 March 31, 2024, we had minimum collateral posting thresholds with certain of our derivative counterparties. As of March 31, 2024, we were not required to post collateral under these agreements because we did not have any derivatives in a liability position with those counterparties.

FAIR VALUE OF ASSETS AND LIABIL

FAIR VALUE OF ASSETS AND LIABILITIES	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE OF ASSETS AND LIABILITIES	11. 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. Methods and assumptions for valuing our financial instruments 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. Interest rate swaps. 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: March 31, 2024 Level 1 Level 2 Level 3 Total Assets: (In thousands) Available-for-sale securities $ — $ 138,362 $ — $ 138,362 Marketable equity securities 222 — — 222 Interest rate swaps — 6,720 — 6,720 Total assets $ 222 $ 145,082 $ — $ 145,304 Liabilities: Interest rate swaps $ — $ 5,875 $ — $ 5,875 December 31, 2023 Level 1 Level 2 Level 3 Total Assets: (In thousands) Available-for-sale securities $ — $ 137,115 $ — $ 137,115 Marketable equity securities 196 — — 196 Interest rate swaps — 5,890 — 5,890 Total assets $ 196 $ 143,005 $ — $ 143,201 Liabilities: Interest rate swaps $ — $ 5,239 $ — $ 5,239 There were no transfers to or from Level 1 and 2 for assets measured at fair value on a recurring basis at March 31, 2024 and December 31, 2023. Assets Measured at Fair Value on a Non-recurring Basis. We may also be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. There were no collateral dependent loans measured at fair value on a nonrecurring basis as of March 31, 2024. The following table summarizes the fair value hierarchy used to determine the carrying values of the related assets as of December 31, 2023: At December 31, 2023 Three Months Ended March 31, 2023 Level 1 Level 2 Level 3 Total Losses (In thousands) (In thousands) Collateral dependent loans $ — $ — $ 1,100 $ 2,178 The amount of impaired loans represents the carrying value, net of the related write-down or valuation allowance of collateral dependent loans for which adjustments are based on the estimated fair value of the underlying collateral. The fair value of collateral dependent 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. Summary of Fair Values of Financial Instruments. The estimated fair values of our financial instruments are as follows: March 31, 2024 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 22,613 $ 22,613 $ — $ — $ 22,613 Securities held-to-maturity 221,242 9,463 172,216 — 181,679 Securities available-for-sale 138,362 — 138,362 — 138,362 Marketable equity securities 222 222 — — 222 Federal Home Loan Bank of Boston and other restricted stock 3,105 — — 3,105 3,105 Loans - net 2,005,682 — — 1,837,472 1,837,472 Accrued interest receivable 8,622 — — 8,622 8,622 Mortgage servicing rights 400 — 707 — 707 Derivative asset 6,720 — 6,720 — 6,720 Liabilities: Deposits 2,143,747 — — 2,140,561 2,140,561 Short-term borrowings 11,470 — 11,459 — 11,459 Long-term debt 120,646 — 120,459 — 120,459 Subordinated debt 19,722 — 17,281 — 17,281 Accrued interest payable 4,414 — — 4,414 4,414 Derivative liabilities 5,875 — 5,875 — 5,875 December 31, 2023 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 28,840 $ 28,840 $ — $ — $ 28,840 Securities held-to-maturity 223,370 9,450 178,242 — 187,692 Securities available-for-sale 137,115 — 137,115 — 137,115 Marketable equity securities 196 196 — — 196 Federal Home Loan Bank of Boston and other restricted stock 3,707 — — 3,707 3,707 Loans - net 2,007,050 — — 1,841,913 1,841,913 Accrued interest receivable 8,528 — — 8,528 8,528 Mortgage servicing rights 422 — 724 — 724 Derivative asset 5,890 — 5,890 — 5,890 Liabilities: Deposits 2,143,744 — — 2,140,930 2,140,930 Short-term borrowings 16,100 — 16,100 — 16,100 Long-term debt 120,646 — 120,460 — 120,460 Subordinated debt 19,712 — 17,938 — 17,938 Accrued interest payable 3,310 — — 3,310 3,310 Derivative liabilities 5,239 — 5,239 — 5,239

RECENT ACCOUNTING PRONOUNCEMENT

RECENT ACCOUNTING PRONOUNCEMENTS	3 Months Ended
	Mar. 31, 2024
Accounting Changes and Error Corrections [Abstract]
RECENT ACCOUNTING PRONOUNCEMENTS	12. RECENT ACCOUNTING PRONOUNCEMENTS In December 2023, the Financial Accounting Standards Board issued ASU 2023-09, Income Taxes—Improvements to Income Tax Disclosures

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2024
Accounting Policies [Abstract]
Nature of Operations and Basis of Presentation	Nature of Operations and Basis of Presentation The Bank operates 25
Wholly-owned Subsidiaries	Wholly-owned Subsidiaries
Principles of Consolidation	Principles of Consolidation
Estimates	Estimates
Basis of Presentation	Basis of Presentation On January 1, 2023, the Company adopted ASU 2016-13 Financial Instruments - Credit Losses Topic326 Measurement of Credit Losses on Financial Instruments 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, 2023, included in our Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Annual Report”).
Reclassifications	Reclassifications

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	3 Months Ended
	Mar. 31, 2024
Earnings per common share:
Earnings per common share for the three months ended March 31, 2024 and 2023 have been computed based on the following:	Earnings per common share for the three months ended March 31, 2024 and 2023 have been computed based on the following: Three Months Ended March 31, 2024 2023 (In thousands, except per share data) Net income applicable to common stock $ 2,961 $ 5,304 Average number of common shares issued 21,640 22,220 Less: Average unallocated ESOP Shares (291 ) (367 ) Less: Average unvested performance-based equity incentive plan shares (168 ) (154 ) Average number of common shares outstanding used to calculate basic earnings per common share 21,181 21,699 Effect of dilutive performance-based equity incentive plan shares 90 18 Average number of common shares outstanding used to calculate diluted earnings per common share 21,271 21,717 Basic earnings per share $ 0.14 $ 0.24 Diluted earnings per share $ 0.14 $ 0.24

COMPREHENSIVE INCOME (LOSS) (Ta

COMPREHENSIVE INCOME (LOSS) (Tables)	3 Months Ended
	Mar. 31, 2024
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: March 31, 2024 December 31, 2023 (In thousands) Net unrealized losses on available-for-sale securities $ (31,702 ) $ (29,166 ) Tax effect 8,065 7,422 Net-of-tax amount (23,637 ) (21,744 ) Accumulated other comprehensive loss $ (23,637 ) $ (21,744 )

INVESTMENT SECURITIES (Tables)

INVESTMENT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Investments, Debt and Equity Securities [Abstract]
Available-for-sale and held-to-maturity investment securities at March 31, 2024 and December 31, 2023 are summarized as follows:	Available-for-sale and held-to-maturity investment securities at March 31, 2024 and December 31, 2023 are summarized as follows: March 31, 2024 Amortized Gross Gross Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,927 $ — $ (3,095 ) $ 11,832 State and municipal bonds 135 — (1 ) 134 Corporate bonds 5,000 — (929 ) 4,071 Total debt securities 20,062 — (4,025 ) 16,037 Mortgage-backed securities: Government-sponsored mortgage-backed securities 143,410 — (26,321 ) 117,089 U.S. government guaranteed mortgage-backed securities 6,592 — (1,356 ) 5,236 Total mortgage-backed securities 150,002 — (27,677 ) 122,325 Total available-for-sale 170,064 — (31,702 ) 138,362 Held-to-maturity securities: Debt securities: U.S. Treasury securities 9,997 — (534 ) 9,463 U.S. government guaranteed obligations 1,100 3 — 1,103 Total debt securities 11,097 3 (534 ) 10,566 Mortgage-backed securities: Government-sponsored mortgage-backed securities 210,145 36 (39,068 ) 171,113 Total mortgage-backed securities 210,145 36 (39,068 ) 171,113 Total held-to-maturity 221,242 39 (39,602 ) 181,679 Total $ 391,306 $ 39 $ (71,304 ) $ 320,041 December 31, 2023 Amortized Cost Gross Gross Fair Value (In thousands) Available-for-sale securities: Debt securities: Government-sponsored enterprise obligations $ 14,924 $ — $ (2,898 ) $ 12,026 State and municipal bonds 135 — — 135 Corporate bonds 8,000 — (1,038 ) 6,962 Total debt securities 23,059 — (3,936 ) 19,123 Mortgage-backed securities: Government-sponsored mortgage-backed securities 136,533 — (23,976 ) 112,557 U.S. government guaranteed mortgage-backed securities 6,689 — (1,254 ) 5,435 Total mortgage-backed securities 143,222 — (25,230 ) 117,992 Total available-for-sale 166,281 — (29,166 ) 137,115 Held-to-maturity securities: Debt securities: U.S. Treasury securities 9,995 — (545 ) 9,450 Total debt securities 9,995 — (545 ) 9,450 Mortgage-backed securities: Government-sponsored mortgage-backed securities 213,375 107 (35,240 ) 178,242 Total mortgage-backed securities 213,375 107 (35,240 ) 178,242 Total held-to-maturity 223,370 107 (35,785 ) 187,692 Total $ 389,651 $ 107 $ (64,951 ) $ 324,807
The following table presents the unrealized gains recognized on marketable equity securities for the periods indicated:	The following table presents the unrealized gains recognized on marketable equity securities for the periods indicated: Three Months Ended March 31 2024 2023 (In thousands) Net gains recognized during the period on marketable equity securities $ 8 $ — Net losses recognized during the period on equity securities sold during the period — — Unrealized gains recognized during the period on marketable equity securities still held at end of period $ 8 $ —
The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2024, by final maturity, are shown below.	The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2024, 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 in one year or less $ 135 $ 134 $ 4,994 $ 4,864 Due after one year through five years — — 5,003 4,599 Due after five years through ten years 19,927 15,903 — — Due after ten years — — 1,100 1,103 Total debt securities $ 20,062 $ 16,037 $ 11,097 $ 10,566 Mortgage-backed securities: Due after one year through five years $ 962 $ 916 $ — $ — Due after five years through ten years 844 767 — — Due after ten years 148,196 120,642 210,145 171,113 Total mortgage-backed securities 150,002 122,325 210,145 171,113 Total securities $ 170,064 $ 138,362 $ 221,242 $ 181,679
Information pertaining to investment securities with gross unrealized losses	Information pertaining to investment securities with gross unrealized losses March 31, 2024 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 2 $ 9,295 $ 13 0.1 % 70 $ 107,794 $ 26,308 19.6 % U.S. government guaranteed mortgage-backed securities — — — — 9 5,236 1,356 20.6 Government-sponsored enterprise obligations — — — — 3 11,832 3,095 20.7 Corporate bonds — — — — 2 4,071 929 18.6 State and municipal bonds 1 134 1 0.7 — — — — Total available-for-sale 3 9,429 14 84 128,933 31,688 Held-to-maturity: U.S. Treasury securities — — — — % 2 9,463 534 5.3 % Government-sponsored mortgage-backed securities 3 5,711 80 1.4 37 159,059 38,988 19.7 Total held-to-maturity 3 5,711 80 39 168,522 39,522 Total 6 $ 15,140 $ 94 123 $ 297,455 $ 71,210 December 31, 2023 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 — $ — $ — — % 70 $ 112,557 $ 23,976 17.6 % U.S. government guaranteed mortgage-backed securities — — — — 9 5,435 1,254 18.7 Government-sponsored enterprise obligations — — — — 3 12,026 2,898 19.4 Corporate bonds — — — — 3 6,962 1,038 13.0 Total available-for-sale — — — 85 136,980 29,166 Held-to-maturity: U.S. Treasury securities — — — — % 2 9,450 545 5.5 % Government-sponsored mortgage-backed securities 4 7,097 56 0.8 36 164,395 35,184 17.6 Total held-to-maturity 4 7,097 56 38 173,845 35,729 Total 4 $ 7,097 $ 56 123 $ 310,825 $ 64,895

LOANS AND ALLOWANCE FOR CREDI_2

LOANS AND ALLOWANCE FOR CREDIT LOSSES (Tables)	3 Months Ended
	Mar. 31, 2024
Receivables [Abstract]
Major classifications of loans at the periods indicated were as follows:	Major classifications of loans at the periods indicated were as follows: March 31, December 31, 2024 2023 (In thousands) Commercial real estate $ 1,083,910 $ 1,079,751 Residential real estate: Residential one-to-four family 615,277 612,315 Home equity 111,488 109,839 Total residential real estate 726,765 722,154 Commercial and industrial 207,307 217,447 Consumer 4,998 5,472 Total gross loans 2,022,980 2,024,824 Unearned premiums and deferred loan fees and costs, net 2,586 2,493 Total loans, net 2,025,566 2,027,317 Allowance for credit losses (19,884 ) (20,267 ) Net loans $ 2,005,682 $ 2,007,050
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 March 31, 2024 2023 (In thousands) Balance at the beginning of year: $ 422 $ 550 Capitalized mortgage servicing rights — — Amortization (22 ) (35 ) Balance at the end of period $ 400 $ 515 Fair value at the end of period $ 707 $ 779
An analysis of changes in the allowance for credit losses by segment for the three months ended March 31, 2024 and March 31, 2023 is as follows:	An analysis of changes in the allowance for credit losses by segment for the three months ended March 31, 2024 and March 31, 2023 is as follows: Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Balance at December 31, 2023 $ 15,141 $ 2,548 $ 2,537 $ 41 $ — $ 20,267 Provision (reversal) for credit losses (398 ) (71 ) (95 ) 114 — (450 ) Charge-offs — (7 ) (1 ) (59 ) — (67 ) Recoveries 28 11 67 28 — 134 Balance at March 31, 2024 $ 14,771 $ 2,481 $ 2,508 $ 124 $ — $ 19,884 Allowance for credit losses for off-balance sheet exposures Balance at December 31, 2023 $ 375 $ 163 $ 59 $ — $ — $ 597 Provision (reversal) for credit losses (111 ) 21 (10 ) — — (100 ) Balance at March 31, 2024 $ 264 $ 184 $ 49 $ — $ — $ 497 Commercial Real Estate Residential Real Estate Commercial and Industrial Consumer Unallocated Total (In thousands) Balance at December 31, 2022 $ 12,199 $ 4,312 $ 3,160 $ 245 $ 15 $ 19,931 Cumulative effect of change in accounting principle 3,989 (2,518 ) (75 ) (199 ) (15 ) 1,182 Adjusted Beginning Balance $ 16,188 $ 1,794 $ 3,085 46 — $ 21,113 Provision (reversal) for credit losses (349 ) 83 3 31 — (232 ) Charge-offs (414 ) — (1,413 ) (35 ) — (1,862 ) Recoveries — — 1 11 — 12 Balance at March 31, 2023 $ 15,425 $ 1,877 $ 1,676 $ 53 $ — $ 19,031 Allowance for credit losses for off-balance sheet exposures Balance at December 31, 2022 $ — $ — $ — $ — $ — $ — Cumulative effect of change in accounting principle 611 267 40 — — 918 Provision (reversal) for credit losses (93 ) (62 ) (1 ) — — (156 ) Balance at March 31, 2023 $ 518 $ 205 $ 39 $ — $ — $ 762
The following tables present an age analysis of past due loans as of the dates indicated:	The following tables present an age analysis of past due 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) March 31, 2024 Commercial real estate $ 522 $ 3 $ 799 $ 1,324 $ 1,082,586 $ 1,083,910 $ 1,035 Residential real estate: Residential one-to-four family 1,547 514 800 2,861 612,416 615,277 4,492 Home equity 347 — 101 448 111,040 111,488 101 Total: 1,894 514 901 3,309 723,456 726,765 4,593 Commercial and industrial 60 — 9 69 207,238 207,307 201 Consumer 7 — 7 14 4,984 4,998 8 Total loans $ 2,483 $ 517 $ 1,716 $ 4,716 $ 2,018,264 $ 2,022,980 $ 5,837 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) December 31, 2023 Commercial real estate $ 272 $ 647 $ 403 $ 1,322 $ 1,078,429 $ 1,079,751 $ 1,347 Residential real estate: Residential one-to-four family 2,354 934 881 4,169 608,146 612,315 4,739 Home equity 263 112 102 477 109,362 109,839 109 Total: 2,617 1,046 983 4,646 717,508 722,154 4,848 Commercial and industrial 20 — 8 28 217,419 217,447 218 Consumer 3 — — 3 5,469 5,472 8 Total loans $ 2,912 $ 1,693 $ 1,394 $ 5,999 $ 2,018,825 $ 2,024,824 $ 6,421
The following table presents information regarding nonaccrual loans as of the dates indicated:	The following table presents information regarding nonaccrual loans as of the dates indicated: As of March 31, 2024 For the Three Months Ended March 31, 2024 Nonaccrual Loans with Allowance for Credit Loss Nonaccrual Loans Without Allowance for Credit Loss Total Nonaccrual Loans Accrued Interest Receivable Reversed from Income (In thousands) Commercial real estate $ — $ 1,035 $ 1,035 $ 24 Residential real estate: Residential — 4,492 4,492 55 Home equity — 101 101 3 Commercial and industrial — 201 201 39 Consumer 8 — 8 — Total loans $ 8 $ 5,829 $ 5,837 $ 121 As of December 31, 2023 For the Three Months Ended March 31, 2023 Nonaccrual Loans with Allowance for Credit Loss Nonaccrual Loans Without Allowance for Credit Loss Total Nonaccrual Loans Accrued Interest Receivable Reversed from Income (In thousands) Commercial real estate $ — $ 1,347 $ 1,347 $ 23 Residential real estate: Residential — 4,739 4,739 45 Home equity — 109 109 3 Commercial and industrial — 218 218 58 Consumer — 8 8 — Total loans $ — $ 6,421 $ 6,421 $ 129
The following table summarizes the Company’s individually evaluated collateral dependent loans by class as of the dates indicated:	The following table summarizes the Company’s individually evaluated collateral dependent loans by class as of the dates indicated: As of March 31, 2024 Recorded Investment Related Allowance (In thousands) With no related allowance recorded: Commercial real estate $ 10,063 $ — Residential real estate: Residential one-to-four family 4,665 — Home equity 101 — Commercial and industrial 305 — Consumer — — Loans with no related allowance recorded $ 15,134 $ — With an allowance recorded: Commercial real estate $ — $ — Residential real estate: Residential one-to-four family — — Home equity — — Commercial and industrial 517 179 Consumer — — Loans with an allowance recorded $ 517 $ 179 Total individually evaluated loans $ 15,651 $ 179 As of December 31, 2023 Recorded Investment Related Allowance (In thousands) With no related allowance recorded: Commercial real estate $ 10,648 $ — Residential real estate: Residential one-to-four family 5,163 — Home equity 109 — Commercial and industrial 13,273 — Consumer 8 — Loans with no related allowance recorded $ 29,201 $ — With an allowance recorded: Commercial real estate $ — $ — Residential real estate: Residential one-to-four family — — Home equity — — Commercial and industrial 517 179 Consumer — — Loans with an allowance recorded $ 517 $ 179 Total individually evaluated loans $ 29,718 $ 179
The following tables detail the amortized cost balances of the Company’s loan portfolio presented by risk rating and origination year as of the periods presented.	The following tables detail the amortized cost balances of the Company’s loan portfolio presented by risk rating and origination year as of the periods presented. Term Loan Origination by Year Revolving Loans March 31, 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial Real Estate: Pass (Rated 1- 4) $ 8,558 $ 43,495 $ 187,387 $ 235,012 $ 111,791 $ 403,778 $ 77,388 $ — $ 1,067,409 Special Mention (Rated 5) — — — — 174 3,684 693 — 4,551 Substandard (Rated 6) — — — — 8,492 3,458 — — 11,950 Total commercial real estate loans $ 8,558 $ 43,495 $ 187,387 $ 235,012 $ 120,457 $ 410,920 $ 78,081 $ — $ 1,083,910 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 8,558 $ 43,495 $ 187,387 $ 235,012 $ 120,457 $ 409,885 $ 78,081 $ — $ 1,082,875 Nonperforming — — — — — 1,035 — — 1,035 Residential One-to-Four Family: Pass $ 11,361 $ 57,844 $ 91,010 $ 93,134 $ 123,881 $ 224,744 $ 7,904 $ — $ 609,878 Substandard — — 446 484 872 3,597 — — 5,399 Total residential one-to-four family $ 11,361 $ 57,844 $ 91,456 $ 93,618 $ 124,753 $ 228,341 $ 7,904 $ — $ 615,277 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 11,361 $ 57,844 $ 91,010 $ 93,134 $ 123,881 $ 225,651 $ 7,904 $ — $ 610,785 Nonperforming — — 446 484 872 2,690 — — 4,492 Home Equity: Pass $ 2,599 $ 10,003 $ 10,462 $ 6,680 $ 6,849 $ 11,976 $ 60,612 $ 2,206 $ 111,387 Substandard — — — — — — 90 11 101 Total home equity loans $ 2,599 $ 10,003 $ 10,462 $ 6,680 $ 6,849 $ 11,976 $ 60,702 $ 2,217 $ 111,488 Current period gross charge-offs $ — $ — $ — $ — $ — $ 7 $ — $ — $ 7 Payment Performance: Performing $ 2,599 $ 10,003 $ 10,462 $ 6,680 $ 6,849 $ 11,976 $ 60,612 $ 2,206 $ 111,387 Nonperforming — — — — — — 90 11 101 Term Loans Originated by Year Revolving Loans March 31, 2024 2023 2022 2021 2020 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial and Industrial: Pass (Rated 1- 4) $ 6,463 $ 23,412 $ 34,411 $ 30,525 $ 17,998 $ 25,793 $ 53,851 $ 68 $ 192,521 Special Mention (Rated 5) — 6,200 95 35 — 2,052 2,266 — 10,648 Substandard (Rated 6) — — — — 527 74 3,537 — 4,138 Total commercial and industrial loans $ 6,463 $ 29,612 $ 34,506 $ 30,560 $ 18,525 $ 27,919 $ 59,654 $ 68 $ 207,307 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 1 $ 1 Payment Performance: Performing $ 6,463 $ 29,612 $ 34,506 $ 30,560 $ 18,525 $ 27,913 $ 59,459 $ 68 $ 207,106 Nonperforming — — — — — 6 195 — 201 Consumer: Pass $ 299 $ 1,895 $ 1,205 $ 449 $ 163 $ 210 $ 770 $ — $ 4,991 Substandard — — — — — 7 — — 7 Total consumer loans $ 299 $ 1,895 $ 1,205 $ 449 $ 163 $ 217 $ 770 $ — $ 4,998 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ 59 $ 59 Payment Performance: Performing $ 299 $ 1,895 $ 1,205 $ 449 $ 163 $ 210 $ 769 $ — $ 4,990 Nonperforming — — — — — 7 1 — 8 Term Loan Origination by Year Revolving Loans 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial Real Estate: Pass (Rated 1- 4) $ 42,764 $ 175,829 $ 228,739 $ 113,631 $ 91,353 $ 320,806 $ 81,483 $ 9,289 $ 1,063,894 Special Mention (Rated 5) — — — 180 915 3,237 164 — 4,496 Substandard (Rated 6) — — — 8,013 — 3,348 — — 11,361 Total commercial real estate loans $ 42,764 $ 175,829 $ 228,739 $ 121,824 $ 92,268 $ 327,391 $ 81,647 $ 9,289 $ 1,079,751 Current period gross charge-offs $ — $ — $ — $ — $ — $ 764 $ — $ — $ 764 Payment Performance: Performing $ 42,764 $ 175,829 $ 228,739 $ 121,824 $ 92,268 $ 326,044 $ 81,647 $ 9,289 $ 1,078,404 Nonperforming — — — — — 1,347 — — 1,347 Residential One-to-Four Family: Pass $ 59,257 $ 88,213 $ 94,290 $ 125,917 $ 54,263 $ 174,688 $ 10,401 $ — $ 607,029 Substandard — 447 495 445 — 3,899 — — 5,286 Total residential one-to-four family $ 59,257 $ 88,660 $ 94,785 $ 126,362 $ 54,263 $ 178,587 $ 10,401 $ — $ 612,315 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 59,257 $ 88,213 $ 94,290 $ 125,540 $ 54,263 $ 175,612 $ 10,401 $ — $ 607,576 Nonperforming — 447 495 822 — 2,975 — — 4,739 Home Equity: Pass $ 9,937 $ 10,885 $ 6,861 $ 7,108 $ 5,234 $ 7,261 $ 60,115 $ 2,329 $ 109,730 Substandard — — — — — 7 90 12 109 Total home equity loans $ 9,937 $ 10,885 $ 6,861 $ 7,108 $ 5,234 $ 7,268 $ 60,205 $ 2,341 $ 109,839 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ — $ — $ — Payment Performance: Performing $ 9,937 $ 10,885 $ 6,861 $ 7,108 $ 5,234 $ 7,261 $ 60,115 $ 2,329 $ 109,730 Nonperforming — — — — — 7 90 12 109 Term Loans Originated by Year Revolving Loans 2023 2022 2021 2020 2019 Prior Revolving Loans Revolving Loans Converted to Term Loans Total (Dollars in thousands) Commercial and Industrial: Pass (Rated 1- 4) $ 31,108 $ 35,705 $ 26,553 $ 19,780 $ 19,765 $ 8,825 $ 57,393 $ 69 $ 199,198 Special Mention (Rated 5) — 101 — — 8 498 707 — 1,314 Substandard (Rated 6) — — 1,408 8,156 — 85 7,286 — 16,935 Total commercial and industrial loans $ 31,108 $ 35,806 $ 27,961 $ 27,936 $ 19,773 $ 9,408 $ 65,386 $ 69 $ 217,447 Current period gross charge-offs $ — $ 147 $ — $ — $ — $ 221 $ — $ 1,193 $ 1,561 Payment Performance: Performing $ 31,108 $ 35,806 $ 27,961 $ 27,936 $ 19,773 $ 9,401 $ 65,175 $ 69 $ 217,229 Nonperforming — — — — — 7 211 — 218 Consumer: Pass $ 2,168 $ 1,381 $ 524 $ 241 $ 68 $ 270 $ 812 $ — $ 5,464 Substandard — — — — — 8 — — 8 Total consumer loans $ 2,168 $ 1,381 $ 524 $ 241 $ 68 $ 278 $ 812 $ — $ 5,472 Current period gross charge-offs $ — $ — $ — $ — $ — $ — $ 3 $ 182 $ 185 Payment Performance: Performing $ 2,168 $ 1,381 $ 524 $ 241 $ 68 $ 271 $ 811 $ — $ 5,464 Nonperforming — — — — — 7 1 — 8

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	3 Months Ended
	Mar. 31, 2024
Share-Based Payment Arrangement [Abstract]
The threshold, target and stretch metrics under the 2021 Incentive Plan are as follows:	The threshold, target and stretch metrics under the 2021 Incentive Plan are as follows: 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
The threshold, target and stretch metrics under the 2022 Incentive Plan are as follows:	The threshold, target and stretch metrics under the 2022 Incentive Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2022 7.79 % 8.20 % 8.61 % December 31, 2023 7.93 % 8.35 % 8.77 % December 31, 2024 8.03 % 8.45 % 8.87 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulatzive Diluted Earnings Per Share $ 2.35 $ 2.61 $ 2.85
The threshold, target and stretch metrics under the 2023 Incentive Plan are as follows:	The threshold, target and stretch metrics under the 2023 Incentive Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2023 8.00 % 8.45 % 8.85 % December 31, 2024 8.75 % 9.25 % 9.75 % December 31, 2025 9.00 % 9.50 % 10.00 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 2.39 $ 2.65 $ 2.89
The threshold, target and stretch metrics under the 2024 Incentive Plan are as follows:	The threshold, target and stretch metrics under the 2024 Incentive Plan are as follows: Return on Equity Metrics Performance Period Ending Threshold Target Stretch December 31, 2024 5.05 % 5.61 % 6.17 % December 31, 2025 6.18 % 6.86 % 7.55 % December 31, 2026 7.30 % 8.11 % 8.92 % Earnings Per Share Metrics Performance Period Ending Threshold Target Stretch Three-year Cumulative Diluted Earnings Per Share $ 2.25 $ 2.50 $ 2.75
A summary of the status of restricted stock awards at March 31, 2024 and 2023 is presented below:	A summary of the status of restricted stock awards at March 31, 2024 and 2023 is presented below: Shares Weighted Average Grant Date Fair Value ($) Balance at December 31, 2023 220,635 9.29 Shares granted 187,049 8.38 Shares vested (69,376 ) 8.34 Balance at March 31, 2024 338,308 8.98 Shares Weighted Average Grant Date Fair Value ($) Balance at December 31, 2022 206,092 8.85 Shares granted 158,957 9.79 Shares vested (59,270 ) 9.11 Balance at March 31, 2023 305,779 9.29

DERIVATIVES AND HEDGING ACTIV_2

DERIVATIVES AND HEDGING ACTIVITIES (Tables)	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
As of March 31, 2024 and December 31, 2023, the following amounts were recorded on the balance sheet related to cumulative basis adjustment of fair value hedges:	As of March 31, 2024 and December 31, 2023, the following amounts were recorded on the balance sheet related to cumulative basis adjustment of fair value hedges: Carrying Amount of Hedged Assets/(Liabilities) Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets/(Liabilities) Item in the Balance Sheet in which the Hedged Item is Included At March 31, 2024 At December 31, 2023 At March 31, 2024 At December 31, 2023 (In thousands) Loans $ 199,192 $ 199,393 $ (808 ) $ (607 ) Total $ 199,192 $ 199,393 $ (808 ) $ (607 )
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 March 31, 2024 and December 31, 2023.	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 March 31, 2024 and December 31, 2023. Asset Derivatives Liability Derivatives March 31, 2024 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Hedging Derivatives Interest rate swaps - fair value hedges $ 845 $ — Derivatives not designated as hedging instruments: Interest rate swap – with customer counterparties — 5,875 Interest rate swap – with dealer counterparties 5,875 — Total derivatives Other Assets $ 6,720 Other Liabilities $ 5,875 Asset Derivatives Liability Derivatives December 31, 2023 Balance Sheet Location Fair Value Balance Sheet Location Fair Value (In thousands) Hedging Derivatives Interest rate swaps - fair value hedges $ 651 $ — Derivatives not designated as hedging instruments: Interest rate swap – with customer counterparties — 5,239 Interest rate swap – with dealer counterparties 5,239 — Total derivatives Other Assets $ 5,890 Other Liabilities $ 5,239
The table below presents the effect of the Company’s fair value hedge derivative on the statements of net income as of March 31, 2024.	The table below presents the effect of the Company’s fair value hedge derivative on the statements of net income as of March 31, 2024. Location and Amount of Gain (Loss) Recognized in Income on Fair Value Hedging Relationships Three Months Ended March 31, 2024 Three Months Ended March 31, 2023 (In thousands) Interest Income Interest Income Total amounts of income line items presented in the statements of net income in which the effects of fair value hedges are recorded $ 443 $ — Gain (loss) on fair value hedging relationships Interest rate contracts: Hedged items $ (6 ) — Derivatives designated as hedging instruments 449 —

FAIR VALUE OF ASSETS AND LIAB_2

FAIR VALUE OF ASSETS AND LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2024
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: March 31, 2024 Level 1 Level 2 Level 3 Total Assets: (In thousands) Available-for-sale securities $ — $ 138,362 $ — $ 138,362 Marketable equity securities 222 — — 222 Interest rate swaps — 6,720 — 6,720 Total assets $ 222 $ 145,082 $ — $ 145,304 Liabilities: Interest rate swaps $ — $ 5,875 $ — $ 5,875 December 31, 2023 Level 1 Level 2 Level 3 Total Assets: (In thousands) Available-for-sale securities $ — $ 137,115 $ — $ 137,115 Marketable equity securities 196 — — 196 Interest rate swaps — 5,890 — 5,890 Total assets $ 196 $ 143,005 $ — $ 143,201 Liabilities: Interest rate swaps $ — $ 5,239 $ — $ 5,239
The following table summarizes the fair value hierarchy used to determine the carrying values of the related assets as of December 31, 2023:	We may also be required, from time to time, to measure certain other financial assets at fair value on a nonrecurring basis in accordance with generally accepted accounting principles. These adjustments to fair value usually result from application of lower-of-cost-or-market accounting or write-downs of individual assets. There were no collateral dependent loans measured at fair value on a nonrecurring basis as of March 31, 2024. The following table summarizes the fair value hierarchy used to determine the carrying values of the related assets as of December 31, 2023: At December 31, 2023 Three Months Ended March 31, 2023 Level 1 Level 2 Level 3 Total Losses (In thousands) (In thousands) Collateral dependent loans $ — $ — $ 1,100 $ 2,178
The estimated fair values of our financial instruments are as follows:	The estimated fair values of our financial instruments are as follows: March 31, 2024 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 22,613 $ 22,613 $ — $ — $ 22,613 Securities held-to-maturity 221,242 9,463 172,216 — 181,679 Securities available-for-sale 138,362 — 138,362 — 138,362 Marketable equity securities 222 222 — — 222 Federal Home Loan Bank of Boston and other restricted stock 3,105 — — 3,105 3,105 Loans - net 2,005,682 — — 1,837,472 1,837,472 Accrued interest receivable 8,622 — — 8,622 8,622 Mortgage servicing rights 400 — 707 — 707 Derivative asset 6,720 — 6,720 — 6,720 Liabilities: Deposits 2,143,747 — — 2,140,561 2,140,561 Short-term borrowings 11,470 — 11,459 — 11,459 Long-term debt 120,646 — 120,459 — 120,459 Subordinated debt 19,722 — 17,281 — 17,281 Accrued interest payable 4,414 — — 4,414 4,414 Derivative liabilities 5,875 — 5,875 — 5,875 December 31, 2023 Carrying Value Fair Value Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash and cash equivalents $ 28,840 $ 28,840 $ — $ — $ 28,840 Securities held-to-maturity 223,370 9,450 178,242 — 187,692 Securities available-for-sale 137,115 — 137,115 — 137,115 Marketable equity securities 196 196 — — 196 Federal Home Loan Bank of Boston and other restricted stock 3,707 — — 3,707 3,707 Loans - net 2,007,050 — — 1,841,913 1,841,913 Accrued interest receivable 8,528 — — 8,528 8,528 Mortgage servicing rights 422 — 724 — 724 Derivative asset 5,890 — 5,890 — 5,890 Liabilities: Deposits 2,143,744 — — 2,140,930 2,140,930 Short-term borrowings 16,100 — 16,100 — 16,100 Long-term debt 120,646 — 120,460 — 120,460 Subordinated debt 19,712 — 17,938 — 17,938 Accrued interest payable 3,310 — — 3,310 3,310 Derivative liabilities 5,239 — 5,239 — 5,239

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	Mar. 31, 2024 N
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 months ended March 31, 2024 and 2023 have been computed based on the following: (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Earnings per common share:
Net income applicable to common stock	$ 2,961	$ 5,304
Average number of common shares issued	21,640	22,220
Less: Average unallocated ESOP Shares	(291)	(367)
Less: Average unvested performance-based equity incentive plan shares	(168)	(154)
Average number of common shares outstanding used to calculate basic earnings per common share	21,181	21,699
Effect of dilutive performance-based equity incentive plan shares	90	18
Average number of common shares outstanding used to calculate diluted earnings per common share	21,271	21,717
Basic earnings per share	$ 0.14	$ 0.24
Diluted earnings per share	$ 0.14	$ 0.24

The components of accumulated o

The components of accumulated other comprehensive loss included in shareholders’ equity are as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive loss	$ (23,637)	$ (21,744)
AOCI, Accumulated Gain (Loss), Debt Securities, Available-for-Sale, Parent [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Net unrealized losses on available-for-sale securities	(31,702)	(29,166)
Tax effect	8,065	7,422
Accumulated other comprehensive loss	$ (23,637)	$ (21,744)

Available-for-sale and held-to-

Available-for-sale and held-to-maturity investment securities at March 31, 2024 and December 31, 2023 are summarized as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	$ 170,064	$ 166,281
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(31,702)	(29,166)
Available-for-sale securities, at fair value	138,362	137,115
Held-to-maturity securities, amortized cost	221,242	223,370
Held-to-maturity securities, gross unrealized gains	39	107
Held-to-maturity securities, gross unrealized losses	(39,602)	(35,785)
Held-to-maturity securities, fair value	181,679	187,692
Total, amortized cost	391,306	389,651
Total, gross unrealized gains	39	107
Total, gross unrealized losses	(71,304)	(64,951)
Total, fair value	320,041	324,807
Government-sponsored enterprise obligations [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	14,927	14,924
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(3,095)	(2,898)
Available-for-sale securities, at fair value	11,832	12,026
State and Municipal Bonds [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	135	135
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(1)
Available-for-sale securities, at fair value	134	135
Corporate Debt Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	5,000	8,000
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(929)	(1,038)
Available-for-sale securities, at fair value	4,071	6,962
Debt Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	20,062	23,059
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(4,025)	(3,936)
Available-for-sale securities, at fair value	16,037	19,123
Held-to-maturity securities, amortized cost	11,097	9,995
Held-to-maturity securities, gross unrealized gains	3
Held-to-maturity securities, gross unrealized losses	(534)	(545)
Held-to-maturity securities, fair value	10,566	9,450
Government-sponsored mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	143,410	136,533
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(26,321)	(23,976)
Available-for-sale securities, at fair value	117,089	112,557
Held-to-maturity securities, amortized cost	210,145	213,375
Held-to-maturity securities, gross unrealized gains	36	107
Held-to-maturity securities, gross unrealized losses	(39,068)	(35,240)
Held-to-maturity securities, fair value	171,113	178,242
U.S. government guaranteed mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	6,592	6,689
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(1,356)	(1,254)
Available-for-sale securities, at fair value	5,236	5,435
Collateralized Mortgage-Backed Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, amortized cost	150,002	143,222
Available-for-sale securities, gross unrealized gains
Available-for-sale securities, gross unrealized losses	(27,677)	(25,230)
Available-for-sale securities, at fair value	122,325	117,992
Held-to-maturity securities, amortized cost	210,145	213,375
Held-to-maturity securities, gross unrealized gains	36	107
Held-to-maturity securities, gross unrealized losses	(39,068)	(35,240)
Held-to-maturity securities, fair value	171,113	178,242
US Treasury Securities [Member]
Marketable Securities [Line Items]
Held-to-maturity securities, amortized cost	9,997	9,995
Held-to-maturity securities, gross unrealized gains
Held-to-maturity securities, gross unrealized losses	(534)	(545)
Held-to-maturity securities, fair value	9,463	$ 9,450
U.S. Government Guaranteed Obligations [Member]
Marketable Securities [Line Items]
Held-to-maturity securities, amortized cost	1,100
Held-to-maturity securities, gross unrealized gains	3
Held-to-maturity securities, gross unrealized losses
Held-to-maturity securities, fair value	$ 1,103

The following table presents th

The following table presents the unrealized gains recognized on marketable equity securities for the periods indicated: (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Net gains recognized during the period on marketable equity securities	$ 8
Net losses recognized during the period on equity securities sold during the period
Unrealized gains recognized during the period on marketable equity securities still held at end of period	$ 8

The amortized cost and fair val

The amortized cost and fair value of available-for-sale and held-to-maturity securities at March 31, 2024, by final maturity, are shown below. (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Amortized cost, available for sale	$ 170,064	$ 166,281
Fair value, available for sale	138,362	137,115
Amortized cost, held to maturity	221,242	223,370
Fair value, held to maturity	181,679	187,692
Debt Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, due in one year or less, amortized cost	135
Available-for-sale securities, due in one year or less, fair value	134
Held-to-maturity securities, due in one year or less, amortized cost	4,994
Held-to-maturity securities, due in one year or less, fair value	4,864
Available-for-sale securities, due after one year through five years, amortized cost
Available-for-sale securities, due after one year through five years, fair value
Held-to-maturity securities, due after one year through five years, amortized cost	5,003
Held-to-maturity securities, due after one year through five years, fair value	4,599
Available-for-sale securities, due after five years through ten years, amortized cost	19,927
Available-for-sale securities, due after five years through ten years, fair value	15,903
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
Available-for-sale securities, due after ten years, fair value
Held-to-maturity securities, due after ten years, amortized cost	1,100
Held-to-maturity securities, due after ten years, fair value	1,103
Amortized cost, available for sale	20,062	23,059
Fair value, available for sale	16,037	19,123
Amortized cost, held to maturity	11,097	9,995
Fair value, held to maturity	10,566	9,450
Collateralized Mortgage-Backed Securities [Member]
Marketable Securities [Line Items]
Available-for-sale securities, due after one year through five years, amortized cost	962
Available-for-sale securities, due after one year through five years, fair value	916
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	844
Available-for-sale securities, due after five years through ten years, fair value	767
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	148,196
Available-for-sale securities, due after ten years, fair value	120,642
Held-to-maturity securities, due after ten years, amortized cost	210,145
Held-to-maturity securities, due after ten years, fair value	171,113
Amortized cost, available for sale	150,002	143,222
Fair value, available for sale	122,325	117,992
Amortized cost, held to maturity	210,145	213,375
Fair value, held to maturity	$ 171,113	$ 178,242

Information pertaining to inves

Information pertaining to investment securities with gross unrealized losses (Details) $ in Thousands	Mar. 31, 2024 USD ($) N	Dec. 31, 2023 USD ($) N
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | N	3
Available-for-sale, less than 12 months, fair value	$ 9,429
Available-for-sale, less than 12 months, gross unrealized loss	$ 14
Available-for-sale, over 12 months, number of securities | N	84	85
Available-for-sale, over 12 months, fair value	$ 128,933	$ 136,980
Available-for-sale, over 12 months, gross unrealized loss	$ 31,688	$ 29,166
Held-to-maturity, less than 12 months, number of securities | N	3	4
Held-to-maturity, less than 12 months, fair value	$ 5,711	$ 7,097
Held-to-maturity, less than 12 months, gross unrealized loss	$ 80	$ 56
Held-to-maturity, over 12 months, number of securities | N	39	38
Held-to-maturity, over 12 months, fair value	$ 168,522	$ 173,845
Held-to-maturity, over 12 months, gross unrealized loss	$ 39,522	$ 35,729
Total, less than 12 months, number of securities | N	6	4
Total, less than 12 months, fair value	$ 15,140	$ 7,097
Total, less than 12 months, gross unrealized loss	$ 94	$ 56
Total, over 12 months, number of securities | N	123	123
Total, over 12 months, fair value	$ 297,455	$ 310,825
Total, over 12 months, gross unrealized loss	$ 71,210	$ 64,895
Government-sponsored mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | N	2
Available-for-sale, less than 12 months, fair value	$ 9,295
Available-for-sale, less than 12 months, gross unrealized loss	$ 13
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)	0.10%
Available-for-sale, over 12 months, number of securities | N	70	70
Available-for-sale, over 12 months, fair value	$ 107,794	$ 112,557
Available-for-sale, over 12 months, gross unrealized loss	$ 26,308	$ 23,976
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	19.60%	17.60%
Held-to-maturity, less than 12 months, number of securities | N	3	4
Held-to-maturity, less than 12 months, fair value	$ 5,711	$ 7,097
Held-to-maturity, less than 12 months, gross unrealized loss	$ 80	$ 56
Held-to-maturity, less than 12 months, depreciation from amortized cost basis (%)	1.40%	0.80%
Held-to-maturity, over 12 months, number of securities | N	37	36
Held-to-maturity, over 12 months, fair value	$ 159,059	$ 164,395
Held-to-maturity, over 12 months, gross unrealized loss	$ 38,988	$ 35,184
Held-to-maturity, over 12 months, depreciation from amortized cost basis (%)	19.70%	17.60%
U.S. government guaranteed mortgage-backed securities [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | N
Available-for-sale, less than 12 months, fair value
Available-for-sale, less than 12 months, gross unrealized loss
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)
Available-for-sale, over 12 months, number of securities | N	9	9
Available-for-sale, over 12 months, fair value	$ 5,236	$ 5,435
Available-for-sale, over 12 months, gross unrealized loss	$ 1,356	$ 1,254
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	20.60%	18.70%
Government-sponsored enterprise obligations [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | N
Available-for-sale, less than 12 months, fair value
Available-for-sale, less than 12 months, gross unrealized loss
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)
Available-for-sale, over 12 months, number of securities | N	3	3
Available-for-sale, over 12 months, fair value	$ 11,832	$ 12,026
Available-for-sale, over 12 months, gross unrealized loss	$ 3,095	$ 2,898
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	20.70%	19.40%
Corporate Bonds [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | N
Available-for-sale, less than 12 months, fair value
Available-for-sale, less than 12 months, gross unrealized loss
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)
Available-for-sale, over 12 months, number of securities | N	2	3
Available-for-sale, over 12 months, fair value	$ 4,071	$ 6,962
Available-for-sale, over 12 months, gross unrealized loss	$ 929	$ 1,038
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)	18.60%	13%
State and Municipal Bonds [Member]
Marketable Securities [Line Items]
Available-for-sale, less than 12 months, number of securities | N	1
Available-for-sale, less than 12 months, fair value	$ 134
Available-for-sale, less than 12 months, gross unrealized loss	$ 1
Available-for-sale, less than 12 months, depreciation from amortized cost basis (%)	0.70%
Available-for-sale, over 12 months, number of securities | N
Available-for-sale, over 12 months, fair value
Available-for-sale, over 12 months, gross unrealized loss
Available-for-sale, over 12 months, depreciation from amortized cost basis (%)
US Treasury Securities [Member]
Marketable Securities [Line Items]
Held-to-maturity, less than 12 months, number of securities | N
Held-to-maturity, less than 12 months, fair value
Held-to-maturity, less than 12 months, gross unrealized loss
Held-to-maturity, less than 12 months, depreciation from amortized cost basis (%)
Held-to-maturity, over 12 months, number of securities | N	2	2
Held-to-maturity, over 12 months, fair value	$ 9,463	$ 9,450
Held-to-maturity, over 12 months, gross unrealized loss	$ 534	$ 545
Held-to-maturity, over 12 months, depreciation from amortized cost basis (%)	5.30%	5.50%

INVESTMENT SECURITIES (Details

INVESTMENT SECURITIES (Details Narrative) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Marketable Securities [Line Items]
Securities fair value	$ 320,041	$ 324,807
Accrued interest receivable on held-to-maturity securities	482	454
Guaranteed by government agencies [Member]
Marketable Securities [Line Items]
Accrued interest receivable on available for sale securities	360	333
Not guaranteed by government agencies [Member]
Marketable Securities [Line Items]
Accrued interest receivable on available for sale securities	51	$ 178
Asset Pledged as Collateral [Member] | Deposits [Member] | US Treasury Securities [Member]
Marketable Securities [Line Items]
Securities fair value	9,500
Asset Pledged as Collateral [Member] | Deposits [Member] | Government-sponsored enterprise obligations [Member]
Marketable Securities [Line Items]
Securities fair value	7,800
Asset Pledged as Collateral [Member] | Deposits [Member] | Collateralized Mortgage-Backed Securities [Member]
Marketable Securities [Line Items]
Securities fair value	$ 169,400

Major classifications of loans

Major classifications of loans at the periods indicated were as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	$ 2,022,980	$ 2,024,824
Unearned premiums and deferred loan fees and costs, net	2,586	2,493
Total loans, net	2,025,566	2,027,317
Allowance for credit losses	(19,884)	(20,267)	$ (19,031)	$ (19,931)
Net loans	2,005,682	2,007,050
Commercial Real Estate [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	1,083,910	1,079,751
Allowance for credit losses	(14,771)	(15,141)	(15,425)	(12,199)
Residential Mortgage [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	615,277	612,315
Home Equity Line of Credit [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	111,488	109,839
Residential Portfolio Segment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	726,765	722,154
Allowance for credit losses	(2,481)	(2,548)	(1,877)	(4,312)
Commercial and Industrial Sector [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	207,307	217,447
Allowance for credit losses	(2,508)	(2,537)	(1,676)	(3,160)
Consumer Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total gross loans	4,998	5,472
Allowance for credit losses	$ (124)	$ (41)	$ (53)	$ (245)

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
	Mar. 31, 2024	Mar. 31, 2023
Receivables [Abstract]
Balance at the beginning of year:	$ 422	$ 550
Capitalized mortgage servicing rights
Amortization	(22)	(35)
Balance at the end of period	400	515
Fair value at the end of period	$ 707	$ 779

An analysis of changes in the a

An analysis of changes in the allowance for credit losses by segment for the three months ended March 31, 2024 and March 31, 2023 is as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses	$ 20,267	$ 19,931	$ 19,931
Provision (reversal) for credit losses	(450)	(232)
Charge-offs	(67)	(1,862)
Recoveries	134	12
Ending balance, allowance for credit losses	19,884	19,031	20,267
Allowance for credit losses for off-balance sheet exposures
Beginning balance	597
Provision (reversal) for credit losses	(100)	(156)
Ending balance	497	762	597
Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		1,182	1,182
Allowance for credit losses for off-balance sheet exposures
Beginning balance		918	918
Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		21,113	21,113
Commercial Real Estate [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses	15,141	12,199	12,199
Provision (reversal) for credit losses	(398)	(349)
Charge-offs		(414)	(764)
Recoveries	28
Ending balance, allowance for credit losses	14,771	15,425	15,141
Allowance for credit losses for off-balance sheet exposures
Beginning balance	375
Provision (reversal) for credit losses	(111)	(93)
Ending balance	264	518	375
Commercial Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		3,989	3,989
Allowance for credit losses for off-balance sheet exposures
Beginning balance		611	611
Commercial Real Estate [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		16,188	16,188
Residential Portfolio Segment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses	2,548	4,312	4,312
Provision (reversal) for credit losses	(71)	83
Charge-offs	(7)
Recoveries	11
Ending balance, allowance for credit losses	2,481	1,877	2,548
Allowance for credit losses for off-balance sheet exposures
Beginning balance	163
Provision (reversal) for credit losses	21	(62)
Ending balance	184	205	163
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		(2,518)	(2,518)
Allowance for credit losses for off-balance sheet exposures
Beginning balance		267	267
Residential Portfolio Segment [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		1,794	1,794
Commercial and Industrial Sector [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses	2,537	3,160	3,160
Provision (reversal) for credit losses	(95)	3
Charge-offs	(1)	(1,413)	(1,561)
Recoveries	67	1
Ending balance, allowance for credit losses	2,508	1,676	2,537
Allowance for credit losses for off-balance sheet exposures
Beginning balance	59
Provision (reversal) for credit losses	(10)	(1)
Ending balance	49	39	59
Commercial and Industrial Sector [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		(75)	(75)
Allowance for credit losses for off-balance sheet exposures
Beginning balance		40	40
Commercial and Industrial Sector [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		3,085	3,085
Consumer Loan [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses	41	245	245
Provision (reversal) for credit losses	114	31
Charge-offs	(59)	(35)	(185)
Recoveries	28	11
Ending balance, allowance for credit losses	124	53	41
Allowance for credit losses for off-balance sheet exposures
Beginning balance
Provision (reversal) for credit losses
Ending balance
Consumer Loan [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		(199)	(199)
Allowance for credit losses for off-balance sheet exposures
Beginning balance
Consumer Loan [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		46	46
Unallocated [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		15	15
Provision (reversal) for credit losses
Charge-offs
Recoveries
Ending balance, allowance for credit losses
Allowance for credit losses for off-balance sheet exposures
Beginning balance
Provision (reversal) for credit losses
Ending balance
Unallocated [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses		(15)	(15)
Allowance for credit losses for off-balance sheet exposures
Beginning balance
Unallocated [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance [Member]
Financing Receivable, Allowance for Credit Loss [Line Items]
Beginning balance, allowance for credit losses

The following tables present an

The following tables present an age analysis of past due loans as of the dates indicated: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Total loans	$ 2,022,980	$ 2,024,824
Non-Accrual Loans	5,837	6,421
Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	2,483	2,912
Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	517	1,693
Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,716	1,394
Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	4,716	5,999
Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	2,018,264	2,018,825
Commercial Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,083,910	1,079,751
Non-Accrual Loans	1,035	1,347
Commercial Real Estate [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	522	272
Commercial Real Estate [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	3	647
Commercial Real Estate [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	799	403
Commercial Real Estate [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,324	1,322
Commercial Real Estate [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,082,586	1,078,429
Residential Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Total loans	615,277	612,315
Non-Accrual Loans	4,492	4,739
Residential Mortgage [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,547	2,354
Residential Mortgage [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	514	934
Residential Mortgage [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	800	881
Residential Mortgage [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	2,861	4,169
Residential Mortgage [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	612,416	608,146
Home Equity Line of Credit [Member]
Financing Receivable, Past Due [Line Items]
Total loans	111,488	109,839
Non-Accrual Loans	101	109
Home Equity Line of Credit [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	347	263
Home Equity Line of Credit [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans		112
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	101	102
Home Equity Line of Credit [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	448	477
Home Equity Line of Credit [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	111,040	109,362
Residential Portfolio Segment [Member]
Financing Receivable, Past Due [Line Items]
Total loans	726,765	722,154
Non-Accrual Loans	4,593	4,848
Residential Portfolio Segment [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	1,894	2,617
Residential Portfolio Segment [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	514	1,046
Residential Portfolio Segment [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	901	983
Residential Portfolio Segment [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	3,309	4,646
Residential Portfolio Segment [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	723,456	717,508
Commercial and Industrial Sector [Member]
Financing Receivable, Past Due [Line Items]
Total loans	207,307	217,447
Non-Accrual Loans	201	218
Commercial and Industrial Sector [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	60	20
Commercial and Industrial Sector [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans
Commercial and Industrial Sector [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	9	8
Commercial and Industrial Sector [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	69	28
Commercial and Industrial Sector [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	207,238	217,419
Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Total loans	4,998	5,472
Non-Accrual Loans	8	8
Consumer Loan [Member] | Financial Asset, 30 to 59 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	7	3
Consumer Loan [Member] | Financial Asset, 60 to 89 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans
Consumer Loan [Member] | Financial Asset, Equal to or Greater than 90 Days Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	7
Consumer Loan [Member] | Financial Asset, Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	14	3
Consumer Loan [Member] | Financial Asset, Not Past Due [Member]
Financing Receivable, Past Due [Line Items]
Total loans	$ 4,984	$ 5,469

The following table presents in

The following table presents information regarding nonaccrual loans as of the dates indicated: (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual, With Allowance	$ 8
Financing Receivable, Nonaccrual, No Allowance	5,829		6,421
Financing Receivable, Nonaccrual	5,837		6,421
Accrued Interest Receivable Reversed from Income	121	$ 129
Commercial Real Estate [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual, With Allowance
Financing Receivable, Nonaccrual, No Allowance	1,035		1,347
Financing Receivable, Nonaccrual	1,035		1,347
Accrued Interest Receivable Reversed from Income	24	23
Residential Mortgage [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual, With Allowance
Financing Receivable, Nonaccrual, No Allowance	4,492		4,739
Financing Receivable, Nonaccrual	4,492		4,739
Accrued Interest Receivable Reversed from Income	55	45
Home Equity Line of Credit [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual, With Allowance
Financing Receivable, Nonaccrual, No Allowance	101		109
Financing Receivable, Nonaccrual	101		109
Accrued Interest Receivable Reversed from Income	3	3
Commercial and Industrial Sector [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual, With Allowance
Financing Receivable, Nonaccrual, No Allowance	201		218
Financing Receivable, Nonaccrual	201		218
Accrued Interest Receivable Reversed from Income	39	58
Consumer Loan [Member]
Financing Receivable, Past Due [Line Items]
Financing Receivable, Nonaccrual, With Allowance	8
Financing Receivable, Nonaccrual, No Allowance			8
Financing Receivable, Nonaccrual	8		$ 8
Accrued Interest Receivable Reversed from Income

The following table summarizes

The following table summarizes the Company’s individually evaluated collateral dependent loans by class as of the dates indicated: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	$ 15,651	$ 29,718
Loans with an allowance recorded, related allowance	179	179
With No Related Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	15,134	29,201
With Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	517	517
Loans with an allowance recorded, related allowance	179	179
Commercial Real Estate [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	10,063	10,648
Residential Mortgage [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	4,665	5,163
Home Equity Line of Credit [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	101	109
Commercial and Industrial Sector [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	305	13,273
Commercial and Industrial Sector [Member] | With Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment	517	517
Loans with an allowance recorded, related allowance	$ 179	179
Consumer Loan [Member] | With No Related Allowance Recorded [Member]
Financing Receivable, Past Due [Line Items]
Individually evaluated loans, recorded investment		$ 8

The following tables detail the

The following tables detail the amortized cost balances of the Company’s loan portfolio presented by risk rating and origination year as of the periods presented. (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Financing Receivable, Credit Quality Indicator [Line Items]
Total	$ 2,022,980		$ 2,024,824
Current period gross charge-offs	67	$ 1,862
Commercial Real Estate [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	8,558		42,764
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	43,495		175,829
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	187,387		228,739
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	235,012		121,824
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	120,457		92,268
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	410,920		327,391
Revolving Loans	78,081		81,647
Revolving Loans Converted to Term Loans			9,289
Total	1,083,910		1,079,751
Current period gross charge-offs, Originated, More than Five Years before Current Fiscal Year			764
Current period gross charge-offs		414	764
Commercial Real Estate [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	8,558		42,764
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	43,495		175,829
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	187,387		228,739
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	235,012		121,824
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	120,457		92,268
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	409,885		326,044
Revolving Loans	78,081		81,647
Revolving Loans Converted to Term Loans			9,289
Total	1,082,875		1,078,404
Commercial Real Estate [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	1,035		1,347
Revolving Loans
Revolving Loans Converted to Term Loans
Total	1,035		1,347
Commercial Real Estate [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	8,558		42,764
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	43,495		175,829
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	187,387		228,739
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	235,012		113,631
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	111,791		91,353
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	403,778		320,806
Revolving Loans	77,388		81,483
Revolving Loans Converted to Term Loans			9,289
Total	1,067,409		1,063,894
Commercial Real Estate [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year			180
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	174		915
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	3,684		3,237
Revolving Loans	693		164
Revolving Loans Converted to Term Loans
Total	4,551		4,496
Commercial Real Estate [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year			8,013
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	8,492
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	3,458		3,348
Revolving Loans
Revolving Loans Converted to Term Loans
Total	11,950		11,361
Residential Mortgage [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	11,361		59,257
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	57,844		88,660
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	91,456		94,785
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	93,618		126,362
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	124,753		54,263
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	228,341		178,587
Revolving Loans	7,904		10,401
Revolving Loans Converted to Term Loans
Total	615,277		612,315
Residential Mortgage [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	11,361		59,257
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	57,844		88,213
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	91,010		94,290
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	93,134		125,540
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	123,881		54,263
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	225,651		175,612
Revolving Loans	7,904		10,401
Revolving Loans Converted to Term Loans
Total	610,785		607,576
Residential Mortgage [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year			447
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	446		495
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	484		822
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	872
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	2,690		2,975
Revolving Loans
Revolving Loans Converted to Term Loans
Total	4,492		4,739
Residential Mortgage [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	11,361		59,257
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	57,844		88,213
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	91,010		94,290
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	93,134		125,917
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	123,881		54,263
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	224,744		174,688
Revolving Loans	7,904		10,401
Revolving Loans Converted to Term Loans
Total	609,878		607,029
Residential Mortgage [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year			447
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	446		495
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	484		445
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	872
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	3,597		3,899
Revolving Loans
Revolving Loans Converted to Term Loans
Total	5,399		5,286
Home Equity Line of Credit [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	2,599		9,937
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	10,003		10,885
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	10,462		6,861
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	6,680		7,108
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	6,849		5,234
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	11,976		7,268
Revolving Loans	60,702		60,205
Revolving Loans Converted to Term Loans	2,217		2,341
Total	111,488		109,839
Home Equity Line of Credit [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	2,599		9,937
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	10,003		10,885
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	10,462		6,861
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	6,680		7,108
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	6,849		5,234
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	11,976		7,261
Revolving Loans	60,612		60,115
Revolving Loans Converted to Term Loans	2,206		2,329
Total	111,387		109,730
Home Equity Line of Credit [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year			7
Revolving Loans	90		90
Revolving Loans Converted to Term Loans	11		12
Total	101		109
Home Equity Line of Credit [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	2,599		9,937
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	10,003		10,885
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	10,462		6,861
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	6,680		7,108
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	6,849		5,234
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	11,976		7,261
Revolving Loans	60,612		60,115
Revolving Loans Converted to Term Loans	2,206		2,329
Total	111,387		109,730
Home Equity Line of Credit [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year			7
Revolving Loans	90		90
Revolving Loans Converted to Term Loans	11		12
Total	101		109
Home Equity Loan [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Current period gross charge-offs, Originated, More than Five Years before Current Fiscal Year	7
Current period gross charge-offs	7
Commercial and Industrial Sector [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	6,463		31,108
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	29,612		35,806
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	34,506		27,961
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	30,560		27,936
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	18,525		19,773
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	27,919		9,408
Revolving Loans	59,654		65,386
Revolving Loans Converted to Term Loans	68		69
Total	207,307		217,447
Current period gross charge-offs, Year Two, Originated, Fiscal Year before Current Fiscal Year			147
Current period gross charge-offs, Originated, More than Five Years before Current Fiscal Year			221
Current period gross charge-offs, Revolving Loans Converted to Term Loans	1		1,193
Current period gross charge-offs	1	1,413	1,561
Commercial and Industrial Sector [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	6,463		31,108
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	29,612		35,806
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	34,506		27,961
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	30,560		27,936
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	18,525		19,773
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	27,913		9,401
Revolving Loans	59,459		65,175
Revolving Loans Converted to Term Loans	68		69
Total	207,106		217,229
Commercial and Industrial Sector [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	6		7
Revolving Loans	195		211
Revolving Loans Converted to Term Loans
Total	201		218
Commercial and Industrial Sector [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	6,463		31,108
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	23,412		35,705
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	34,411		26,553
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	30,525		19,780
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	17,998		19,765
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	25,793		8,825
Revolving Loans	53,851		57,393
Revolving Loans Converted to Term Loans	68		69
Total	192,521		199,198
Commercial and Industrial Sector [Member] | Special Mention (Rated 5) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	6,200		101
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	95
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	35
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year			8
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	2,052		498
Revolving Loans	2,266		707
Revolving Loans Converted to Term Loans
Total	10,648		1,314
Commercial and Industrial Sector [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year			1,408
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year			8,156
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	527
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	74		85
Revolving Loans	3,537		7,286
Revolving Loans Converted to Term Loans
Total	4,138		16,935
Consumer Loan [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	299		2,168
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,895		1,381
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	1,205		524
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	449		241
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	163		68
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	217		278
Revolving Loans	770		812
Revolving Loans Converted to Term Loans
Total	4,998		5,472
Current period gross charge-offs, Revolving Loans			3
Current period gross charge-offs, Revolving Loans Converted to Term Loans	59		182
Current period gross charge-offs	59	$ 35	185
Consumer Loan [Member] | Performing Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	299		2,168
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,895		1,381
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	1,205		524
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	449		241
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	163		68
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	210		271
Revolving Loans	769		811
Revolving Loans Converted to Term Loans
Total	4,990		5,464
Consumer Loan [Member] | Nonperforming Financial Instruments [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	7		7
Revolving Loans	1		1
Revolving Loans Converted to Term Loans
Total	8		8
Consumer Loan [Member] | Pass (Rated 1 - 4) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year	299		2,168
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year	1,895		1,381
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year	1,205		524
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year	449		241
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year	163		68
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	210		270
Revolving Loans	770		812
Revolving Loans Converted to Term Loans
Total	4,991		5,464
Consumer Loan [Member] | Substandard (Rated 6) [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Financing Receivable, Excluding Accrued Interest, Year One, Originated, Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Two, Originated, Fiscal Year before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Three, Originated, Two Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Four, Originated, Three Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Year Five, Originated, Four Years before Current Fiscal Year
Financing Receivable, Excluding Accrued Interest, Originated, More than Five Years before Current Fiscal Year	7		8
Revolving Loans
Revolving Loans Converted to Term Loans
Total	$ 7		$ 8

LOANS AND ALLOWANCE FOR CREDI_3

LOANS AND ALLOWANCE FOR CREDIT LOSSES (Details Narrative) $ in Thousands	3 Months Ended
	Mar. 31, 2024 USD ($) $ / Loan	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Serviced commercial loans for participants	$ 59,100		$ 65,000
Weighted average prepayment speed, PSA	104%
Weighted average internal rate of return	10.01%
Weighted average servicing fee percentage	0.25%
Net cost to service loans | $ / Loan	83.38
Mortgage loans serviced for others	$ 71,400		72,300
Servicing fee income	44	$ 50
Accrued interest receivable on loans held for investment	$ 7,600		7,500
First mortgages maximum loan-to-value percentage, owner-occupied homes	97%
First mortgages maximum loan-to-value percentage, second homes	90%
First mortgages maximum loan-to-value percentage, investment properties	85%
Loan-to-value ratio requiring private mortgage insurance	80%
Residential equity loans and lines maximum percentage of appraised value underwritten	85%
Provision for credit losses	$ 550	388
Provision for loan losses	450	232
Reversal for credit losses for off-balance sheet exposures	100	$ 156
Total loans	$ 2,022,980		$ 2,024,824
Total past due, percentage of total loans	0.23%		0.30%
Nonaccrual loans	$ 5,837		$ 6,421
Nonaccrual loans, percentage of total loans	0.29%		0.32%
Individually evaluated loans	$ 15,651		$ 29,718
Financial Asset, Past Due [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans	4,716		5,999
Unfunded Loan Commitment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Decrease in unfunded commitments	$ 12,400
Percentage of decrease in off-balance sheet exposure	7.60%
Total unfunded loan commitments	$ 149,900		$ 162,300
Commercial Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated loans	822
Real Estate Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Individually evaluated loans	$ 14,800

GOODWILL AND OTHER INTANGIBLES

GOODWILL AND OTHER INTANGIBLES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Amortization of core deposit intangible	$ 94	$ 94
Core Deposits [Member]
Finite-Lived Intangible Assets [Line Items]
Acquired core deposit intangible	$ 4,500
Amortization period of core deposit intangible	12 years
Future amortization of core deposit intangible assets years 1-4	$ 375
Future amortization of core deposit intangible assets thereafter	$ 219

The threshold, target and stret

The threshold, target and stretch metrics under the 2021 Incentive Plan are as follows: (Details) - LTI Plan for 2021 [Member]	12 Months Ended
	Dec. 31, 2021 $ / shares
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
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
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

The threshold, target and str_2

The threshold, target and stretch metrics under the 2022 Incentive Plan are as follows: (Details) - LTI Plan for 2022 [Member]	12 Months Ended
	Dec. 31, 2022 $ / shares
Threshold [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2022	7.79%
December 31, 2023	7.93%
December 31, 2024	8.03%
Three-year Cumulatzive Diluted Earnings Per Share	$ 2.35
Target [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2022	8.20%
December 31, 2023	8.35%
December 31, 2024	8.45%
Three-year Cumulatzive Diluted Earnings Per Share	$ 2.61
Stretch [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2022	8.61%
December 31, 2023	8.77%
December 31, 2024	8.87%
Three-year Cumulatzive Diluted Earnings Per Share	$ 2.85

The threshold, target and str_3

The threshold, target and stretch metrics under the 2023 Incentive Plan are as follows: (Details) - LTI Plan for 2023 [Member]	12 Months Ended
	Dec. 31, 2023 $ / shares
Threshold [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2023	8%
December 31, 2024	8.75%
December 31, 2025	9%
Three-year Cumulative Diluted Earnings Per Share	$ 2.39
Target [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2023	8.45%
December 31, 2024	9.25%
December 31, 2025	9.50%
Three-year Cumulative Diluted Earnings Per Share	$ 2.65
Stretch [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2023	8.85%
December 31, 2024	9.75%
December 31, 2025	10%
Three-year Cumulative Diluted Earnings Per Share	$ 2.89

The threshold, target and str_4

The threshold, target and stretch metrics under the 2024 Incentive Plan are as follows: (Details) - LTI Plan for 2024 [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares
Threshold [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2024	5.05%
December 31, 2025	6.18%
December 31, 2026	7.30%
Three-year Cumulative Diluted Earnings Per Share	$ 2.25
Target [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2024	5.61%
December 31, 2025	6.86%
December 31, 2026	8.11%
Three-year Cumulative Diluted Earnings Per Share	$ 2.50
Stretch [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
December 31, 2024	6.17%
December 31, 2025	7.55%
December 31, 2026	8.92%
Three-year Cumulative Diluted Earnings Per Share	$ 2.75

A summary of the status of rest

A summary of the status of restricted stock awards at March 31, 2024 and 2023 is presented below: (Details) - Restricted Stock [Member] - $ / shares	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Beginning balance	220,635	206,092
Beginning balance	$ 9.29	$ 8.85
Shares granted	187,049	158,957
Shares granted	$ 8.38	$ 9.79
Shares vested	(69,376)	(59,270)
Shares vested	$ 8.34	$ 9.11
Ending balance	338,308	305,779
Ending balance	$ 8.98	$ 9.29

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details Narrative) - USD ($) $ in Thousands	1 Months Ended					3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	May 31, 2021	Mar. 31, 2024	Mar. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Restricted stock expense						$ 505	$ 529
LTI Plan for 2021 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted					122,362
LTI Plan for 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted				137,151
LTI Plan for 2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted			139,196
LTI Plan for 2024 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted	167,878
2021 Omnibus Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares available for grant	121,203					121,203
2021 Omnibus Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares authorized					700,000
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
Share-Based Payment Arrangement [Member] | Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period						1 year
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
Time Based Shares [Member] | LTI Plan for 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted				77,463
Time Based Shares [Member] | LTI Plan for 2022 [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				17,775
Time Based Shares [Member] | LTI Plan for 2022 [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				59,688
Time Based Shares [Member] | LTI Plan for 2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted			78,697
Time Based Shares [Member] | LTI Plan for 2023 [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			18,198
Time Based Shares [Member] | LTI Plan for 2023 [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			60,499
Time Based Shares [Member] | LTI Plan for 2024 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Shares granted	94,667
Time Based Shares [Member] | LTI Plan for 2024 [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	21,456
Time Based Shares [Member] | LTI Plan for 2024 [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	73,211
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		50,205			61,181
Vesting percentage					50%
Performance based shares eligible for vest		69,376
Performance Shares [Member] | LTI Plan for 2022 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period				3 years
Shares granted				59,688
Vesting percentage				50%
Performance Shares [Member] | LTI Plan for 2023 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period			3 years
Shares granted			60,499
Vesting percentage			50%
Performance Shares [Member] | LTI Plan for 2024 [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Vesting period	3 years
Shares granted	73,211
Vesting percentage	50%

SHORT-TERM BORROWINGS AND LON_2

SHORT-TERM BORROWINGS AND LONG-TERM DEBT (Details Narrative) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Other borrowings	$ 6,700,000	$ 6,100,000
Weighted average rate for other borrowings	5.33%	5.33%
Short term borrowings	$ 11,470,000	$ 16,100,000
Federal Home Loan Bank Advances [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 30,600,000	$ 30,600,000
Weighted average fixed rate	4.81%	4.81%
FRB Bank Term Funding Program [Member]
Debt Instrument [Line Items]
Long-term Debt	$ 90,000,000	$ 90,000,000
Weighted average fixed rate	4.71%	4.71%
Line of Credit [Member]
Debt Instrument [Line Items]
Line of credit available	$ 9,500,000	$ 9,500,000
FRB Discount Window [Member]
Debt Instrument [Line Items]
Line of credit available	72,200,000
Correspondent Banks [Member]
Debt Instrument [Line Items]
Line of credit available	15,000,000	15,000,000
Bank [Member]
Debt Instrument [Line Items]
Line of credit available	10,000,000	10,000,000
Federal Home Loan Bank Borrowings [Member]
Debt Instrument [Line Items]
Short term borrowings	$ 4,800,000	$ 10,000,000
Weighted average rate	5.54%	5.56%
Borrowing capacity	$ 508,100,000

SUBORDINATED DEBT (Details Narr

SUBORDINATED DEBT (Details Narrative) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Apr. 20, 2021
Debt Instrument [Line Items]
Amortization of subordinated debt issuance costs	$ 10	$ 9
Subordinated Debt [Member]
Debt Instrument [Line Items]
Principal amount			$ 20,000
Principal amount outstanding		19,700
Maturity Date	May 01, 2031
Earliest redemption date	May 01, 2026
Issuance costs	$ 278
Amortization of subordinated debt issuance costs	$ 10	$ 9
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%

As of March 31, 2024 and Decemb

As of March 31, 2024 and December 31, 2023, the following amounts were recorded on the balance sheet related to cumulative basis adjustment of fair value hedges: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivatives, Fair Value [Line Items]
Carrying Amount of Hedged Assets/(Liabilities)	$ 199,192	$ 199,393
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets/(Liabilities)	(808)	(607)
Loans [Member]
Derivatives, Fair Value [Line Items]
Carrying Amount of Hedged Assets/(Liabilities)	199,192	199,393
Cumulative Amount of Fair Value Hedging Adjustments Included in the Carrying Amount of Hedged Assets/(Liabilities)	$ (808)	$ (607)

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 March 31, 2024 and December 31, 2023. (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Derivative Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Derivative Liability, Statement of Financial Position [Extensible Enumeration]	Other liabilities	Other liabilities
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Fair Value Hedging [Member]
Derivative [Line Items]
Fair value of derivative assets	$ 845	$ 651
Fair value of derivative liability
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Fair value of derivative assets	6,720	5,890
Fair value of derivative liability	5,875	5,239
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Customer counterparties [Member]
Derivative [Line Items]
Fair value of derivative assets
Fair value of derivative liability	5,875	5,239
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Dealer counterparties [Member]
Derivative [Line Items]
Fair value of derivative assets	5,875	5,239
Fair value of derivative liability

The table below presents the ef

The table below presents the effect of the Company’s fair value hedge derivative on the statements of net income as of March 31, 2024. (Details) - Interest Rate Swap [Member] - Fair Value Hedging [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income line items presented in the statements of net income in which the effects of fair value hedges are recorded	$ 443
Hedged items	(6)
Derivatives designated as hedging instruments	$ 449

DERIVATIVES AND HEDGING ACTIV_3

DERIVATIVES AND HEDGING ACTIVITIES (Details Narrative) - Designated as Hedging Instrument [Member] - Fair Value Hedging [Member] - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Derivative [Line Items]
Amortized cost basis of closed portfolios	$ 454,100	$ 461,200
Cumulative basis adjustments	808	607
Notional amount	$ 200,000	$ 200,000
Remaining maturity	7 months 6 days
Average fixed rate	4.43%

Assets and liabilities measured

Assets and liabilities measured at fair value on a recurring basis are summarized below: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets:
Available-for-sale securities	$ 138,362	$ 137,115
Marketable equity securities	222	196
Interest rate swaps	6,720	5,890
Liabilities:
Interest rate swaps	5,875	5,239
Fair Value, Inputs, Level 1 [Member]
Assets:
Available-for-sale securities
Marketable equity securities	222	196
Interest rate swaps
Liabilities:
Interest rate swaps
Fair Value, Inputs, Level 2 [Member]
Assets:
Available-for-sale securities	138,362	137,115
Marketable equity securities
Interest rate swaps	6,720	5,890
Liabilities:
Interest rate swaps	5,875	5,239
Fair Value, Inputs, Level 3 [Member]
Assets:
Available-for-sale securities
Marketable equity securities
Interest rate swaps
Liabilities:
Interest rate swaps
Fair Value, Recurring [Member]
Assets:
Available-for-sale securities	138,362	137,115
Marketable equity securities	222	196
Interest rate swaps	6,720	5,890
Total assets	145,304	143,201
Liabilities:
Interest rate swaps	5,875	5,239
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Assets:
Available-for-sale securities
Marketable equity securities	222	196
Interest rate swaps
Total assets	222	196
Liabilities:
Interest rate swaps
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Assets:
Available-for-sale securities	138,362	137,115
Marketable equity securities
Interest rate swaps	6,720	5,890
Total assets	145,082	143,005
Liabilities:
Interest rate swaps	5,875	5,239
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Assets:
Available-for-sale securities
Marketable equity securities
Interest rate swaps
Total assets
Liabilities:
Interest rate swaps

The following table summarize_2

The following table summarizes the fair value hierarchy used to determine the carrying values of the related assets as of December 31, 2023: (Details) - Fair Value, Nonrecurring [Member] - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2023
Impaired Loans [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total losses	$ 2,178
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired Loans		$ 1,100

The estimated fair values of ou

The estimated fair values of our financial instruments are as follows: (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Assets:
Cash and cash equivalents	$ 22,613	$ 28,840
Securities held-to-maturity	181,679	187,692
Securities available-for-sale	138,362	137,115
Marketable equity securities	222	196
Federal Home Loan Bank of Boston and other restricted stock	3,105	3,707
Loans - net	1,837,472	1,841,913
Accrued interest receivable	8,622	8,528
Mortgage servicing rights	707	724
Derivative asset	6,720	5,890
Liabilities:
Deposits	2,140,561	2,140,930
Short-term borrowings	11,459	16,100
Long-term debt	120,459	120,460
Subordinated debt	17,281	17,938
Accrued interest payable	4,414	3,310
Derivative liabilities	5,875	5,239
Fair Value, Inputs, Level 1 [Member]
Assets:
Cash and cash equivalents	22,613	28,840
Securities held-to-maturity	9,463	9,450
Securities available-for-sale
Marketable equity securities	222	196
Federal Home Loan Bank of Boston and other restricted stock
Loans - net
Accrued interest receivable
Mortgage servicing rights
Derivative asset
Liabilities:
Deposits
Short-term borrowings
Long-term debt
Subordinated debt
Accrued interest payable
Derivative liabilities
Fair Value, Inputs, Level 2 [Member]
Assets:
Cash and cash equivalents
Securities held-to-maturity	172,216	178,242
Securities available-for-sale	138,362	137,115
Marketable equity securities
Federal Home Loan Bank of Boston and other restricted stock
Loans - net
Accrued interest receivable
Mortgage servicing rights	707	724
Derivative asset	6,720	5,890
Liabilities:
Deposits
Short-term borrowings	11,459	16,100
Long-term debt	120,459	120,460
Subordinated debt	17,281	17,938
Accrued interest payable
Derivative liabilities	5,875	5,239
Fair Value, Inputs, Level 3 [Member]
Assets:
Cash and cash equivalents
Securities held-to-maturity
Securities available-for-sale
Marketable equity securities
Federal Home Loan Bank of Boston and other restricted stock	3,105	3,707
Loans - net	1,837,472	1,841,913
Accrued interest receivable	8,622	8,528
Mortgage servicing rights
Derivative asset
Liabilities:
Deposits	2,140,561	2,140,930
Short-term borrowings
Long-term debt
Subordinated debt
Accrued interest payable	4,414	3,310
Derivative liabilities
Reported Value Measurement [Member]
Assets:
Cash and cash equivalents	22,613	28,840
Securities held-to-maturity	221,242	223,370
Securities available-for-sale	138,362	137,115
Marketable equity securities	222	196
Federal Home Loan Bank of Boston and other restricted stock	3,105	3,707
Loans - net	2,005,682	2,007,050
Accrued interest receivable	8,622	8,528
Mortgage servicing rights	400	422
Derivative asset	6,720	5,890
Liabilities:
Deposits	2,143,747	2,143,744
Short-term borrowings	11,470	16,100
Long-term debt	120,646	120,646
Subordinated debt	19,722	19,712
Accrued interest payable	4,414	3,310
Derivative liabilities	$ 5,875	$ 5,239