Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 08, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Sep. 30, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | PATHFINDER BANCORP, INC. | |
Entity Central Index Key | 0001609065 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity File Number | 001-36695 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 38-3941859 | |
Entity Address, Address Line One | 214 West First Street | |
Entity Address, City or Town | Oswego | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 13126 | |
City Area Code | 315 | |
Local Phone Number | 343-0057 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Title of each class | Common Stock, $0.01 par value | |
Trading Symbol | PBHC | |
Name of each exchange on which registered | NASDAQ | |
Voting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock Shares Outstanding | 4,719,288 | |
Series A Nonvoting Common Stock [Member] | ||
Document Information [Line Items] | ||
Entity Common Stock Shares Outstanding | 1,380,283 |
Consolidated Statements of Cond
Consolidated Statements of Condition (Unaudited) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
ASSETS: | ||
Cash and due from banks | $ 12,822 | $ 13,939 |
Interest-earning deposits | 11,652 | 21,343 |
Total cash and cash equivalents | 24,474 | 35,282 |
Available-for-sale securities, at fair value | 206,848 | 191,726 |
Held-to-maturity securities, at amortized cost (fair value of $170,575 and $181,491, respectively) | 185,589 | 194,402 |
Marketable equity securities, at fair value | 3,013 | 1,862 |
Federal Home Loan Bank stock, at cost | 5,824 | 5,982 |
Loans | 896,123 | 897,735 |
Loans held-for-sale | 0 | 19 |
Less: Allowance for credit losses | 15,767 | 15,319 |
Loans receivable, net | 880,356 | 882,435 |
Premises and equipment, net | 18,491 | 17,872 |
Assets held-for-sale | 3,042 | 3,042 |
Operating lease right-of-use assets | 1,559 | 2,098 |
Finance lease right-of-use assets | 4,108 | 4,213 |
Accrued interest receivable | 6,594 | 6,168 |
Foreclosed real estate | 189 | 221 |
Intangible assets, net | 88 | 101 |
Goodwill | 4,536 | 4,536 |
Bank owned life insurance | 24,479 | 24,012 |
Other assets | 31,459 | 25,969 |
Total assets | 1,400,649 | 1,399,921 |
Deposits: | ||
Interest-bearing | 953,143 | 941,719 |
Noninterest-bearing | 174,710 | 183,711 |
Total deposits | 1,127,853 | 1,125,430 |
Short-term borrowings | 56,698 | 60,333 |
Long-term borrowings | 53,915 | 55,664 |
Subordinated debt | 29,867 | 29,733 |
Accrued interest payable | 1,731 | 975 |
Operating lease liabilities | 1,739 | 2,417 |
Finance lease liabilities | 4,391 | 4,422 |
Other liabilities | 10,013 | 9,365 |
Total liabilities | 1,286,207 | 1,288,339 |
Shareholders' equity: | ||
Additional paid in capital | 52,963 | 52,101 |
Retained earnings | 74,282 | 71,322 |
Accumulated other comprehensive loss | (13,356) | (12,172) |
Unearned ESOP | (180) | (315) |
Total Pathfinder Bancorp, Inc. shareholders' equity | 113,770 | 110,997 |
Noncontrolling interest | 672 | 585 |
Total equity | 114,442 | 111,582 |
Total liabilities and shareholders' equity | 1,400,649 | 1,399,921 |
Voting Common Stock [Member] | ||
Shareholders' equity: | ||
Common stock | 47 | 47 |
Non-Voting Common Stock [Member] | ||
Shareholders' equity: | ||
Common stock | $ 14 | $ 14 |
Consolidated Statements of Co_2
Consolidated Statements of Condition (Unaudited) (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
ASSETS: | ||
Held-to-maturity securities, at amortized cost fair value | $ 170,575 | $ 181,491 |
Voting Common Stock [Member] | ||
Shareholders' equity: | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 25,000,000 | 25,000,000 |
Common stock, shares issued (in shares) | 4,713,353 | 4,651,829 |
Common stock, shares outstanding (in shares) | 4,713,353 | 4,651,829 |
Non-Voting Common Stock [Member] | ||
Shareholders' equity: | ||
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, shares authorized (in shares) | 1,505,283 | 1,505,283 |
Common stock, shares issued (in shares) | 1,380,283 | 1,380,283 |
Common stock, shares outstanding (in shares) | 1,380,283 | 1,380,283 |
Consolidated Statements of Inco
Consolidated Statements of Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Interest and dividend income: | ||||
Loans, including fees | $ 12,470 | $ 9,895 | $ 34,919 | $ 27,561 |
Debt securities: | ||||
Taxable | 4,488 | 3,052 | 12,408 | 7,695 |
Tax-exempt | 507 | 351 | 1,441 | 612 |
Dividends | 140 | 56 | 341 | 155 |
Federal funds sold and interest earning deposits | 66 | 29 | 226 | 48 |
Total interest and dividend income | 17,671 | 13,383 | 49,335 | 36,071 |
Interest expense: | ||||
Interest on deposits | 6,223 | 1,907 | 15,885 | 4,006 |
Interest on short-term borrowings | 674 | 123 | 1,624 | 152 |
Interest on long-term borrowings | 222 | 131 | 619 | 405 |
Interest on subordinated loans | 492 | 442 | 1,447 | 1,284 |
Total interest expense | 7,611 | 2,603 | 19,575 | 5,847 |
Net interest income | 10,060 | 10,780 | 29,760 | 30,224 |
Provision for credit losses: | ||||
Loans | 798 | 710 | 2,675 | 871 |
Held-to-maturity securities | 5 | 0 | (24) | 0 |
Unfunded commitments | 30 | 0 | 14 | 0 |
Total provision for credit losses | 833 | 710 | 2,665 | 871 |
Net interest income after provision for loan losses | 9,227 | 10,070 | 27,095 | 29,353 |
Noninterest income: | ||||
Earnings and gain on bank owned life insurance | 165 | 156 | 466 | 441 |
(Losses) gains on sales and redemptions of investment securities | (13) | (198) | 60 | (168) |
Net (losses) gains on marketable equity securities | (39) | 0 | (208) | 39 |
Gains on sales of loans and foreclosed real estate | 41 | 47 | 183 | 122 |
Insurance agency revenue | 310 | 258 | 1,001 | 849 |
Total noninterest income | 1,193 | 1,161 | 3,872 | 4,060 |
Noninterest expense: | ||||
Salaries and employee benefits | 4,154 | 4,196 | 12,243 | 12,030 |
Building and occupancy | 868 | 835 | 2,699 | 2,491 |
Data processing | 483 | 485 | 1,519 | 1,552 |
Professional and other services | 492 | 267 | 1,531 | 1,112 |
Advertising | 144 | 199 | 516 | 621 |
FDIC assessments | 222 | 162 | 663 | 606 |
Audits and exams | 159 | 141 | 476 | 424 |
Insurance agency expense | 273 | 229 | 817 | 687 |
Community service activities | 55 | 58 | 151 | 193 |
Foreclosed real estate expenses | 44 | 17 | 76 | 57 |
Other expenses | 759 | 678 | 1,660 | 1,892 |
Total noninterest expense | 7,653 | 7,267 | 22,351 | 21,665 |
Income before income taxes | 2,767 | 3,964 | 8,616 | 11,748 |
Provision for income taxes | 573 | 772 | 1,772 | 2,273 |
Net income attributable to noncontrolling interest and Pathfinder Bancorp, Inc. | 2,194 | 3,192 | 6,844 | 9,475 |
Net income attributable to noncontrolling interest | 18 | 12 | 87 | 73 |
Net income attributable to Pathfinder Bancorp Inc. | $ 2,176 | $ 3,180 | $ 6,757 | $ 9,402 |
Voting Common Stock dividends | $ 0.09 | $ 0.09 | $ 0.27 | $ 0.27 |
Voting Common Stock [Member] | ||||
Noninterest expense: | ||||
Voting Earnings per common share- basic | 0.35 | 0.52 | 1.1 | 1.55 |
Voting Earnings per common share - diluted | 0.35 | 0.52 | 1.1 | 1.55 |
Voting Common Stock dividends | 422 | 411 | 1,256 | 1,231 |
Series A Non voting [Member] | ||||
Noninterest expense: | ||||
Voting Earnings per common share- basic | 0.35 | 0.52 | 1.1 | 1.55 |
Voting Earnings per common share - diluted | 0.35 | 0.52 | 1.1 | 1.55 |
Voting and Series A Non-Voting [Member] | ||||
Noninterest expense: | ||||
Voting Common Stock dividends | $ 0.09 | $ 0.09 | $ 0.27 | $ 0.27 |
Service Charges on Deposit Accounts [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 343 | $ 334 | $ 913 | $ 876 |
Loan Servicing Fees [Member] | ||||
Noninterest income: | ||||
Noninterest income | 99 | 74 | 238 | 260 |
Debit Card Interchange Fees [Member] | ||||
Noninterest income: | ||||
Noninterest income | 22 | 180 | 455 | 639 |
Other Charges, Commissions & Fees [Member] | ||||
Noninterest income: | ||||
Noninterest income | $ 265 | $ 310 | $ 764 | $ 1,002 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income (Loss) (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Consolidated Statements of Comprehensive Income [Abstract] | ||||
Net Income | $ 2,194 | $ 3,192 | $ 6,844 | $ 9,475 |
Retirement Plans: | ||||
Retirement plan net gains recognized in plan expenses | 56 | 1 | 167 | 2 |
Net unrealized gain on retirement plans | 56 | 1 | 167 | 2 |
Unrealized holding gains (losses) on available-for-sale securities: | ||||
Unrealized holding (losses) gains arising during the period | (3,016) | (4,588) | (4,093) | (16,542) |
Reclassification adjustment for net (gains) losses included in net income | (1) | 186 | 1,932 | 160 |
Net unrealized (losses) on available-for-sale securities | (3,017) | (4,402) | (2,161) | (16,382) |
Derivatives and hedging activities: | ||||
Unrealized holding gains arising during the period | 273 | 116 | 391 | 1,087 |
Net unrealized gains on derivatives and hedging activities | 273 | 116 | 391 | 1,087 |
Other comprehensive (loss), before tax | (2,688) | (4,285) | (1,603) | (15,293) |
Tax effect | 702 | 1,119 | 419 | 3,996 |
Other comprehensive (loss), net of tax | (1,986) | (3,166) | (1,184) | (11,297) |
Comprehensive income (loss) | 208 | 26 | 5,660 | (1,822) |
Comprehensive income, attributable to noncontrolling interest | 18 | 12 | 87 | 73 |
Comprehensive income (loss) attributable to Pathfinder Bancorp, Inc. | 190 | 14 | 5,573 | (1,895) |
Tax Effect Allocated to Each Component of Other Comprehensive (Loss) Income | ||||
Retirement plan net losses recognized in plan expenses | (15) | 0 | (44) | (1) |
Unrealized holding gains on available-for-sale securities arising during the period | 788 | 1,199 | 1,070 | 4,324 |
Reclassification adjustment for net (gains) included in net income | 0 | (50) | (506) | (43) |
Unrealized (gains) on derivatives and hedging arising during the period | (71) | (30) | (101) | (284) |
Income tax effect related to other comprehensive income | $ 702 | $ 1,119 | $ 419 | $ 3,996 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) - USD ($) $ in Thousands | Total | Common Stock [Member] | Additional Paid in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Unearned ESOP [Member] | Non-controlling Interest [Member] | Non-Voting Common Stock [Member] Common Stock [Member] |
Beginning balance at Dec. 31, 2021 | $ 110,633 | $ 46 | $ 51,044 | $ 60,946 | $ (1,268) | $ (495) | $ 346 | $ 14 |
Net income | 9,475 | 9,402 | 73 | |||||
Other comprehensive loss, net of tax | (11,297) | (11,297) | ||||||
ESOP shares earned | 352 | 217 | 135 | |||||
Stock based compensation | 135 | 135 | ||||||
Stock options exercised | 131 | 131 | ||||||
Common stock dividends declared | (1,231) | (1,231) | ||||||
Non-Voting common stock dividends declared | (373) | (373) | ||||||
Warrant dividends declared | (34) | (34) | ||||||
Cumulative effect of affiliate capital allocation | 76 | (147) | 71 | |||||
Distributions from affiliates | (4) | (4) | ||||||
Ending balance at Sep. 30, 2022 | 107,795 | 46 | 51,603 | 68,563 | (12,565) | (360) | 494 | 14 |
Beginning balance at Jun. 30, 2022 | 108,128 | 46 | 51,388 | 66,077 | (9,399) | (405) | 407 | 14 |
Net income | 3,192 | 3,180 | 12 | |||||
Other comprehensive loss, net of tax | (3,166) | (3,166) | ||||||
ESOP shares earned | 122 | 77 | 45 | |||||
Stock based compensation | 45 | 45 | ||||||
Stock options exercised | 17 | 17 | ||||||
Common stock dividends declared | (411) | (411) | ||||||
Non-Voting common stock dividends declared | (125) | (125) | ||||||
Warrant dividends declared | (11) | (11) | ||||||
Cumulative effect of affiliate capital allocation | 76 | (147) | 71 | |||||
Distributions from affiliates | (4) | (4) | ||||||
Ending balance at Sep. 30, 2022 | 107,795 | 46 | 51,603 | 68,563 | (12,565) | (360) | 494 | 14 |
Beginning balance at Dec. 31, 2022 | 111,582 | 47 | 52,101 | 71,322 | (12,172) | (315) | 585 | 14 |
Net income | 6,844 | 6,757 | 87 | |||||
Other comprehensive loss, net of tax | (1,184) | (1,184) | ||||||
ESOP shares earned | 288 | 153 | 135 | |||||
Stock based compensation | 86 | 86 | ||||||
Stock options exercised | 623 | 623 | ||||||
Common stock dividends declared | (1,256) | (1,256) | ||||||
Non-Voting common stock dividends declared | (373) | (373) | ||||||
Warrant dividends declared | (34) | (34) | ||||||
Adoption of ASU 2016-13 Current Expected Credit Losses | (2,134) | (2,134) | ||||||
Ending balance at Sep. 30, 2023 | 114,442 | 47 | 52,963 | 74,282 | (13,356) | (180) | 672 | 14 |
Beginning balance at Jun. 30, 2023 | 114,429 | 47 | 52,645 | 72,664 | (11,370) | (225) | 654 | 14 |
Net income | 2,194 | 2,176 | 18 | |||||
Other comprehensive loss, net of tax | (1,986) | (1,986) | ||||||
ESOP shares earned | 85 | 40 | 45 | |||||
Stock based compensation | 23 | 23 | ||||||
Stock options exercised | 255 | 255 | ||||||
Common stock dividends declared | (422) | (422) | ||||||
Non-Voting common stock dividends declared | (124) | (124) | ||||||
Warrant dividends declared | (12) | (12) | ||||||
Ending balance at Sep. 30, 2023 | $ 114,442 | $ 47 | $ 52,963 | $ 74,282 | $ (13,356) | $ (180) | $ 672 | $ 14 |
Consolidated Statements of Ch_2
Consolidated Statements of Changes in Shareholders' Equity (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Statement of Stockholders' Equity [Abstract] | ||||
ESOP shares earned (in shares) | 6,111 | 6,111 | 18,332 | 18,332 |
Voting Common Stock dividends | $ 0.09 | $ 0.09 | $ 0.27 | $ 0.27 |
Dividends per non voting common share | 0.09 | 0.09 | 0.27 | 0.27 |
Dividends per warrant | $ 0.09 | $ 0.09 | $ 0.27 | $ 0.27 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
OPERATING ACTIVITIES | ||
Net income attributable to Pathfinder Bancorp, Inc. | $ 6,757 | $ 9,402 |
Adjustments to reconcile net income to net cash flows from operating activities: | ||
Provision for credit losses | 2,665 | 871 |
Proceeds from sales of loans | 4,244 | 6,789 |
Originations of loans held-for-sale | (4,013) | (6,429) |
Realized (gains) losses on sales, redemptions and calls of: | ||
Real estate acquired through foreclosure | 29 | 0 |
Loans | (212) | (122) |
Available-for-sale investment securities | (79) | 160 |
Held-to-maturity investment securities | 19 | 8 |
Marketable securities | 208 | (39) |
Depreciation | 1,051 | 1,108 |
Amortization of mortgage servicing rights | (35) | (1) |
Amortization of deferred loan fees and costs | (183) | 389 |
Amortization of operating leases | (65) | 11 |
Amortization of deferred financing from subordinated debt | 134 | 126 |
Earnings on bank owned life insurance | (466) | (441) |
Net amortization of premiums and discounts on investment securities | 1,633 | 1,475 |
Amortization of intangible assets | 13 | 13 |
Stock based compensation and ESOP expense | 374 | 487 |
Net change in accrued interest receivable | (426) | (652) |
Net change in other assets and liabilities | (4,645) | (1,003) |
Net cash flows from operating activities | 7,003 | 12,152 |
INVESTING ACTIVITIES | ||
Purchase of investment securities available-for-sale | (49,256) | (51,411) |
Purchase of investment securities held-to-maturity | (12,787) | (60,253) |
Purchase of Federal Home Loan Bank stock | (13,415) | (9,769) |
Proceeds from redemption of Federal Home Loan Bank stock | 13,573 | 10,243 |
Purchase of marketable securities | (1,359) | (1,215) |
Proceeds from maturities and principal reductions of investment securities available-for-sale | 12,921 | 16,449 |
Proceeds from maturities and principal reductions of investment securities held-to-maturity | 20,878 | 23,322 |
Proceeds from sales, redemptions and calls of: | ||
Available-for-sale investment securities | 17,396 | 8,358 |
Held-to-maturity investment securities | 278 | 2,196 |
Real estate acquired through foreclosure | 288 | 0 |
Marketable securities | 0 | 714 |
Net change in loans | (736) | (54,562) |
Purchase of premises and equipment | (1,670) | (1,430) |
Net cash outflows (inflows) from investing activities | (13,889) | (117,358) |
FINANCING ACTIVITIES | ||
Net change in demand deposits, NOW accounts, savings accounts, money management deposit accounts, MMDA accounts and escrow deposits | (67,468) | 848 |
Net change in time deposits | 74,902 | (20,707) |
Net change in brokered deposits | (5,011) | 145,096 |
Net change in short-term borrowings | (3,635) | (1,000) |
Payments on long-term borrowings | (6,525) | (12,227) |
Proceeds from long-term borrowings | 4,776 | 1,750 |
Proceeds from exercise of stock options | 623 | 131 |
Cash dividends paid to common voting shareholders | (1,264) | (1,152) |
Cash dividends paid to common non-voting shareholders | (373) | (345) |
Cash dividends paid on warrants | (34) | (31) |
Change in noncontrolling interest, net | 87 | 148 |
Net cash (outflows) inflows from financing activities | (3,922) | 112,511 |
Change in cash and cash equivalents | (10,808) | 7,305 |
Cash and cash equivalents at beginning of period | 35,282 | 37,149 |
Cash and cash equivalents at end of period | 24,474 | 44,454 |
CASH PAID DURING THE PERIOD FOR: | ||
Interest | 18,819 | 1,452 |
Income taxes | 2,500 | 2,518 |
NON-CASH INVESTING ACTIVITY | ||
Real estate acquired in exchange for loans | 333 | 252 |
RESTRICTED CASH | ||
Collateral deposits for hedge position included in cash and due from banks | $ 0 | $ 1,600 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Sep. 30, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Basis of Presentation | Note 1: Basis of Presentation The accompanying unaudited consolidated financial statements of Pathfinder Bancorp, Inc., (the “Company”), Pathfinder Bank (the “Bank”) and its other wholly owned subsidiaries have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information, the instructions for Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes necessary for a complete presentation of consolidated financial condition, results of operations and cash flows in conformity with generally accepted accounting principles. In the opinion of management, all adjustments, consisting of normal recurring accruals considered necessary for a fair presentation, have been included. Certain amounts in the 2022 consolidated financial statements may have been reclassified to conform to the current period presentation. These reclassifications had no effect on net income or comprehensive income as previously reported. Operating results for the three and nine months ended September 30, 2023 are not necessarily indicative of the results that may be expected for the full year ending December 31, 2023 or any other interim period. The Company's consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States and follow practices within the banking industry. Application of these principles requires management to make estimates, assumptions, and judgments that affect the amounts reported in the consolidated financial statements and accompanying notes. These estimates, assumptions, and judgments are based on information available as of the date of the financial statements; accordingly, as this information changes, the financial statements could reflect different estimates, assumptions, and judgments. Certain accounting policies inherently have a greater reliance on the use of estimates, assumptions, and judgments and as such, have a greater possibility of producing results that could be materially different than originally reported. Estimates, assumptions, and judgments are necessary when assets and liabilities are required to be recorded at fair value or when an asset or liability needs to be recorded contingent upon a future event. Carrying assets and liabilities at fair value inherently results in more financial statement volatility. The fair values and information used to record valuation adjustments for certain assets and liabilities are based on quoted market prices or are provided by unaffiliated third-party sources, when available. When third party information is not available, valuation adjustments are estimated in good faith by management. Although the Company owns, through its subsidiary Pathfinder Risk Management Company, Inc., 51 % of the membership interest in FitzGibbons Agency, LLC (“Agency”), the Company is required to consolidate 100 % of the Agency within the consolidated financial statements. The 49 % of which the Company does not own is accounted for separately as noncontrolling interests within the consolidated financial statements. |
New Accounting Pronouncements
New Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Standards Update and Change in Accounting Principle [Abstract] | |
New Accounting Pronouncements | Note 2: New Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) and, to a lesser extent, other authoritative rulemaking bodies promulgate generally accepted accounting principles (“GAAP”) to regulate the standards of accounting in the United States. From time to time, the FASB issues new GAAP standards, known as Accounting Standards Updates (“ASUs”) some of which, upon adoption, may have the potential to change the way in which the Company recognizes or reports within its consolidated financial statements. The following table provides a description of the accounting standards that are not currently effective, but could have an impact on the Company's consolidated financial statements upon adoption. Standards Not Yet Adopted as of September 30, 2023 Standard Description Required Date Effect on Consolidated Financial Statements Reference Rate Reform (ASU 2020-04: Facilitation of the Effects of Reference Rate Reform on Financial Reporting [Topic 848]: Deferral of the Sunset Date of Topic 848) The amendments provide optional expedients and exceptions for applying generally accepted accounting principles (GAAP) to contracts, hedging relationships, and other transactions affected by reference rate reform. The amendments apply only to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments (1) apply to contract modifications that replace a reference rate affected by reference rate reform, (2) provide exceptions to existing guidance related to changes to the critical terms of a hedging relationship due to reference rate reform (3) provide optional expedients for fair value hedging relationships, cash flow hedging relationships, and net investment hedging relationships, and (4) provide a onetime election to sell, transfer, or both sell and transfer debt securities classified as held-to-maturity that reference a rate affected by reference rate reform and that are classified as held-to-maturity before January 1, 2020. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope. ASU 2021-01 clarifies that certain optional expedients and exceptions in ASC 848 for contract modifications and hedge accounting apply to derivatives that are affected by the discounting transition. ASU 2021-01 also amends the expedients and exceptions in ASC 848 to capture the incremental consequences of the scope clarification and to tailor the existing guidance to derivative instruments affected by the discounting transition. Upon issuance, January 7, 2021, through December 31, 2024, as amended by ASU 2022-06. The adoption of this ASU is not expected to have a material impact to the Company's consolidated statements of condition or income. |
Earnings per Common Share
Earnings per Common Share | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
Earnings per Common Share | Note 3: Earnings per Common Share Following shareholder approval received on June 4, 2021, the Company converted 1,380,283 shares of its Series B Convertible Perpetual Preferred Stock ("Convertible Perpetual Preferred Stock") to an equal number of shares of its newly-created Series A Non-Voting Common Stock. The conversion, which was effective on June 28, 2021, represented 100% of the Company's Convertible Perpetual Preferred Stock outstanding at the time of the conversion and retired the Convertible Perpetual Preferred Stock in perpetuity. The Company has voting common stock, non-voting common stock and a warrant that are all eligible to participate in dividends equal to the voting common stock dividends on a per share basis. Securities that participate in dividends, such as the Company’s non-voting common stock and warrant, are considered “participating securities”. The Company calculates net income available to voting common shareholders using the two-class method required for capital structures that include participating securities. In applying the two-class method, basic net income per share was calculated by dividing net income (less any dividends on participating securities) by the weighted average number of shares of voting common stock and participating securities outstanding for the period. Diluted earnings per share may include the additional effect of other securities, if dilutive, in which case the dilutive effect of such securities is calculated by applying either the two-class method or the Treasury Stock method to the assumed exercise or vesting of potentially dilutive common shares. The method yielding the more dilutive result is ultimately reported for the applicable period. Potentially dilutive common stock equivalents primarily consist of employee stock options and restricted stock units. Unallocated common shares held by the ESOP are not included in the weighted average number of common shares outstanding for purposes of calculating earnings per common share until they are committed to be released to plan participants. Anti-dilutive shares are common stock equivalents with average exercise prices in excess of t he weighted average market price for the period presented. Anti-dilutive stock options, not included in the computation below, were - 0 - for the three and nine months ended September 30, 2023, and - 0 - for the three and nine months ended September 30 , 2022, respectively. The following table sets forth the calculation of basic and diluted earnings per share. Three months ended Nine months ended September 30, September 30, (In thousands, except share and per share data) 2023 2022 2023 2022 Net income attributable to Pathfinder Bancorp, Inc. $ 2,176 $ 3,180 $ 6,757 $ 9,402 Series A Non-Voting Common Stock dividends 124 125 373 373 Warrant dividends 12 11 34 34 Undistributed earnings allocated to participating securities 395 653 1,248 1,930 Net income available to common shareholders-Voting $ 1,645 $ 2,391 $ 5,102 $ 7,065 Net income attributable to Pathfinder Bancorp, Inc. $ 2,176 $ 3,180 $ 6,757 $ 9,402 Voting Common Stock dividends 422 411 1,256 1,231 Warrant dividends 12 11 34 34 Undistributed earnings allocated to participating securities 1,257 2,034 3,950 5,994 Net income available to common shareholders-Series A Non-Voting $ 485 $ 724 $ 1,517 $ 2,143 Basic and diluted weighted average common shares outstanding-Voting 4,671 4,564 4,640 4,550 Basic and diluted weighted average common shares outstanding-Series A Non-Voting 1,380 1,380 1,380 1,380 Basic and diluted earnings per common share-Voting $ 0.35 $ 0.52 $ 1.10 $ 1.55 Basic and diluted earnings per common share-Series A Non-Voting $ 0.35 $ 0.52 $ 1.10 $ 1.55 |
Investment Securities
Investment Securities | 9 Months Ended |
Sep. 30, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Investment Securities | Note 4: Investment Securities The amortized cost and estimated fair value of investment securities are summarized as follows: September 30, 2023 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 42,034 $ 295 $ ( 4,183 ) $ 38,146 State and political subdivisions 33,157 - ( 4,014 ) 29,143 Corporate 11,519 389 ( 501 ) 11,407 Asset backed securities 17,751 - ( 377 ) 17,374 Residential mortgage-backed - US agency 21,826 - ( 1,474 ) 20,352 Collateralized mortgage obligations - US agency 13,534 - ( 1,343 ) 12,191 Collateralized mortgage obligations - Private label 82,692 105 ( 4,768 ) 78,029 Total 222,513 789 ( 16,660 ) 206,642 Equity investment securities: Common stock - financial services industry 206 - - 206 Total 206 - - 206 Total available-for-sale $ 222,719 $ 789 $ ( 16,660 ) $ 206,848 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 3,770 $ - $ ( 415 ) $ 3,355 State and political subdivisions 15,698 - ( 2,562 ) 13,136 Corporate 45,436 22 ( 4,004 ) 41,454 Asset backed securities 17,609 - ( 1,277 ) 16,332 Residential mortgage-backed - US agency 7,206 - ( 893 ) 6,313 Collateralized mortgage obligations - US agency 13,339 - ( 1,691 ) 11,648 Collateralized mortgage obligations - Private label 82,957 31 ( 4,651 ) 78,337 Total 186,015 53 ( 15,493 ) 170,575 Less: Allowance for credit losses 426 - - - Total held-to-maturity $ 185,589 $ 53 $ ( 15,493 ) $ 170,575 December 31, 2022 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 32,533 $ 37 $ ( 3,206 ) $ 29,364 State and political subdivisions 48,002 384 ( 3,001 ) 45,385 Corporate 11,803 676 ( 650 ) 11,829 Asset backed securities 16,059 - ( 659 ) 15,400 Residential mortgage-backed - US agency 17,982 - ( 1,582 ) 16,400 Collateralized mortgage obligations - US agency 13,070 - ( 1,362 ) 11,708 Collateralized mortgage obligations - Private label 65,781 8 ( 4,355 ) 61,434 Total 205,230 1,105 ( 14,815 ) 191,520 Equity investment securities: Common stock - financial services industry 206 - - 206 Total 206 - - 206 Total available-for-sale $ 205,436 $ 1,105 $ ( 14,815 ) $ 191,726 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 3,852 $ - $ ( 280 ) $ 3,572 State and political subdivisions 15,211 - ( 2,340 ) 12,871 Corporate 45,086 2 ( 2,586 ) 42,502 Asset backed securities 19,158 - ( 1,291 ) 17,867 Residential mortgage-backed - US agency 7,489 - ( 739 ) 6,750 Collateralized mortgage obligations - US agency 15,109 - ( 1,251 ) 13,858 Collateralized mortgage obligations - Private label 88,497 4 ( 4,430 ) 84,071 Total held-to-maturity $ 194,402 $ 6 $ ( 12,917 ) $ 181,491 The amortized cost and estimated fair value of debt investments at September 30, 2023 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 8,603 $ 8,953 $ 1,136 $ 1,129 Due after one year through five years 11,254 10,604 19,536 18,879 Due after five years through ten years 36,174 32,090 43,469 38,405 Due after ten years 48,430 44,423 18,372 15,864 Sub-total 104,461 96,070 82,513 74,277 Residential mortgage-backed - US agency 21,826 20,352 7,206 6,313 Collateralized mortgage obligations - US agency 13,534 12,191 13,339 11,648 Collateralized mortgage obligations - Private label 82,692 78,029 82,957 78,337 Totals $ 222,513 $ 206,642 $ 186,015 $ 170,575 The Company’s investment securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: September 30, 2023 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (In thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSEs 3 $ ( 42 ) $ 5,963 3 $ ( 4,141 ) $ 24,819 6 $ ( 4,183 ) $ 30,782 State and political subdivisions 1 ( 25 ) 1,387 24 ( 3,989 ) 27,756 25 ( 4,014 ) 29,143 Corporate 2 ( 1 ) 1,500 5 ( 500 ) 4,221 7 ( 501 ) 5,721 Asset backed securities 1 ( 14 ) 954 10 ( 363 ) 14,404 11 ( 377 ) 15,358 Residential mortgage-backed - US agency 1 ( 1 ) 5,372 15 ( 1,473 ) 14,981 16 ( 1,474 ) 20,353 Collateralized mortgage obligations - US agency 2 ( 59 ) 3,920 11 ( 1,284 ) 8,271 13 ( 1,343 ) 12,191 Collateralized mortgage obligations - Private label 12 ( 293 ) 23,505 32 ( 4,475 ) 46,483 44 ( 4,768 ) 69,988 Totals 22 $ ( 435 ) $ 42,601 100 $ ( 16,225 ) $ 140,935 122 $ ( 16,660 ) $ 183,536 Held-to-Maturity Portfolio US Treasury, agencies and GSEs - $ - $ - 2 $ ( 415 ) $ 3,355 2 $ ( 415 ) $ 3,355 State and political subdivisions 5 ( 41 ) 1,052 14 ( 2,521 ) 12,083 19 ( 2,562 ) 13,135 Corporate 2 ( 142 ) 858 38 ( 3,862 ) 32,397 40 ( 4,004 ) 33,255 Asset backed securities 2 ( 11 ) 2,938 8 ( 1,266 ) 11,163 10 ( 1,277 ) 14,101 Residential mortgage-backed - US agency 3 ( 3 ) 1,452 9 ( 890 ) 4,861 12 ( 893 ) 6,313 Collateralized mortgage obligations - US agency - - - 10 ( 1,691 ) 11,648 10 ( 1,691 ) 11,648 Collateralized mortgage obligations - Private label 10 ( 417 ) 13,068 42 ( 4,234 ) 58,610 52 ( 4,651 ) 71,678 Totals 22 $ ( 614 ) $ 19,368 123 $ ( 14,879 ) $ 134,117 145 $ ( 15,493 ) $ 153,485 December 31, 2022 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (In thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSEs - $ - $ - 3 $ ( 3,206 ) $ 26,167 3 $ ( 3,206 ) $ 26,167 State and political subdivisions 10 ( 830 ) 12,601 17 ( 2,171 ) 20,128 27 ( 3,001 ) 32,729 Corporate 7 ( 269 ) 5,720 2 ( 381 ) 1,319 9 ( 650 ) 7,039 Asset backed securities 5 ( 148 ) 5,473 5 ( 511 ) 9,926 10 ( 659 ) 15,399 Residential mortgage-backed - US agency 10 ( 131 ) 2,747 5 ( 1,451 ) 13,653 15 ( 1,582 ) 16,400 Collateralized mortgage obligations - US agency 6 ( 238 ) 4,009 6 ( 1,124 ) 7,700 12 ( 1,362 ) 11,709 Collateralized mortgage obligations - Private label 15 ( 1,684 ) 20,429 19 ( 2,671 ) 33,707 34 ( 4,355 ) 54,136 Totals 53 $ ( 3,300 ) $ 50,979 57 $ ( 11,515 ) $ 112,600 110 $ ( 14,815 ) $ 163,579 Held-to-Maturity Portfolio US Treasury, agencies and GSE's 2 $ ( 280 ) $ 3,573 - - $ - 2 $ ( 280 ) $ 3,573 State and political subdivisions 7 ( 871 ) 7,277 7 ( 1,469 ) 5,077 14 ( 2,340 ) 12,354 Corporate 31 ( 1,786 ) 29,213 9 ( 800 ) 6,803 40 ( 2,586 ) 36,016 Asset backed securities 6 ( 625 ) 9,742 3 ( 666 ) 3,674 9 ( 1,291 ) 13,416 Residential mortgage-backed - US agency 10 ( 736 ) 6,577 1 ( 3 ) 107 11 ( 739 ) 6,684 Collateralized mortgage obligations - US agency 10 ( 1,236 ) 12,965 1 ( 15 ) 892 11 ( 1,251 ) 13,857 Collateralized mortgage obligations - Private label 38 ( 2,719 ) 58,061 8 ( 1,711 ) 12,532 46 ( 4,430 ) 70,593 Totals 104 $ ( 8,253 ) $ 127,408 29 $ ( 4,664 ) $ 29,085 133 $ ( 12,917 ) $ 156,493 Excluding the effects of changes in the characteristics of individual debt securities that potentially give rise to credit losses, as described below, the fair market value of a debt security as of a particular measurement date is highly dependent upon prevailing market and economic environmental factors at the measurement date relative to the prevailing market and economic environmental factors present at the time the debt security was acquired. The most significant market and environmental factors include, but are not limited to (1) the general level of interest rates, (2) the relationship between shorter-term interest rates and longer-term interest rates (referred to as the “slope” or "shape" of the interest rate yield curve), (3) general bond market liquidity, (4) the recent and expected near-term volume of new issuances of similar debt securities, and (5) changes in the market values of individual loan collateral underlying mortgage-backed an asset-backed debt securities. Changes in interest rates affect the fair market values of debt securities by influencing the discount rate applied to the securities’ future expected cash flows. The higher the discount rate, the lower the resultant security fair value at the measurement date. Conversely, the lower the discount rate, the higher the resultant security fair value at the measurement date. In addition, the cumulative amount and timing of undiscounted cash flows of debt securities may also be affected by changes in interest rates. For any given level of movement in the general market and economic environmental factors described above, the magnitude of any particular debt security’s price changes will also depend heavily upon security-specific factors such as (1) the duration of the security, (2) imbedded optionality contractually granted to the issuer of the security with respect to principal prepayments, and (3) changes in the level of market premiums demanded by investors for securities with imbedded credit risk (where applicable). When the fair value of any individual security categorized as available-for-sale ("AFS") or held-to-maturity ("HTM") is less than its amortized cost basis, an assessment is made as to whether or not a charge to current earnings for credit loss is required. In assessing potential credit losses, management also makes a quantitative determination of potential credit loss for all HTM securities even if the risk of credit loss is considered remote and uses a best estimate threshold for securities categorized as AFS. The Company considers numerous factors when determining whether a potential credit loss exists. The principal factors considered are (1) the financial condition of the issue and (guarantor, if any) any adverse conditions specifically related to the security, industry or geographic area, (2) failure of the issuer of the security to make scheduled interest or principal payments, (3) any changes to the rating of the security by a nationally recognized statistical rating organization (“NRSRO”), and (4) the presence of contractual credit enhancements, if any, including the guarantee of the federal government or any of its agencies. The Company carries all of its AFS investments at fair value with any unrealized gains or losses reported, net of income tax effects, as an adjustment to shareholders' equity and included in accumulated other comprehensive income (loss), except for the credit-related portion of debt securities’ impairment losses, if any, which are charged to earnings. The Company's ability to fully realize the value of its investments in various securities, including corporate debt securities, is dependent on the underlying creditworthiness of the issuing organization. In evaluating the debt securities portfolio (both AFS and HTM) for credit losses, management considers (1) if we intend to sell the security; (2) if it is “more likely than not” we will be required to sell the security before recovery of its amortized cost basis; or (3) if the present value of expected cash flows is insufficient to recover the entire amortized cost basis. The portion of the investment securities portfolio, categorized as AFS, with an aggregate amortized historical cost of $ 222.7 million , had an aggregate fair value that was less than its aggregate amortized historical cost by $ 16.7 million , o r -7 .5 %, at September 30, 2023. The AFS securities portfolio, with an aggregate amortized historical cost of $ 205.4 million, had an aggregate fair value that was less than its aggregate amortized historical cost by $ 14.8 million, or - 7.2 %, at December 31, 2022. The resultant $ 1.9 million total decline in the fair value of the AFS investment portfolio's aggregate fair value relative to its aggregate amortized historical cost, in the nine months ended September 30, 2023, was primarily due to changes in the interest rate environment (the general interest rate level and the relationships between shorter-term and longer-term interest rates, known as the 'yield curve') that occurred in that period. These changes in aggregate fair value relative to aggregate amortized historical cost that occurred in the nine months ended September 30, 2023 did not represent any changes in credit loss estimations within the portfolio. Management evaluated the individual securities within the AFS securities portfolio and determined that there was no material credit loss in that portfolio at the adoption date of the CECL methodology on January 1, 2023 or at the reporting date of September 30, 2023. Accordingly, no transition adjustment related to the adoption of ASU 2016-13 was recorded on January 1, 2023 and no impairment charges related to this portfolio were taken in the three and nine months ended September 30, 2023. The portion of the investment securities portfolio, categorized as HTM, with an aggregate amortized historical cost of $ 185.6 million , had an aggregate fair value that was less than its aggregate amortized historical cost b y $ 15.5 million, or - 8.3 % , at September 30, 2023. The portion of the investment securities portfolio, categorized as HTM, with an aggregate amortized historical cost of $ 194.4 million, had an aggregate fair value that was less than its aggregate amortized historical cost by $ 12.9 million, or - 6.6 %, at December 31, 2022. The resultant $ 2.6 million reduction in the aggregate fair value of the HTM investment portfolio, relative to its aggregate amortized historical cost, during the nine months ended September 30, 2023, was primarily due to changes in the interest rate environment (the general interest rate level and the relationships between shorter-term and longer-term interest rates, known as the 'yield curve') that occurred in that period. These changes in aggregate fair value relative to aggregate amortized historical cost that occurred in the nine months ended September 30, 2023 did not represent any changes in credit loss estimations within the portfolio. The Company does not intend to sell these securities, nor is it more likely than not that the Company will be required to sell these securities prior to the recovery of the amortized cost. As a result of the Company's adoption of ASU 2016-13, the Company established a reserve against the recorded aggregate value of the HTM investment securities portfolio in the amount of $ 450,000 at January 1, 2023. The reserve was determined using a discounted probability of default ("PD") - loss given default ("LGD") model consistent with the methodologies used to calculate the Company's allowance for credit losses ("ACL"). This calculation, applied in the third quarter of 2023, resulted in a $ 5,000 increase to the allowance for credit losses to $ 426,000 at Sep tember 30, 2023, reflected as an increase to the total periodic provision for credit losses recorded in the third quarter of 2023, related to the portion of the investment securities portfolio categorized as HTM. The following table depicts a rollforward of the allowance for credit losses on investment securities classified as held-to-maturity for the three months ended September 30, 2023: (In thousands) Government Issued and Government Sponsored Enterprise Securities Mortgage and Asset-backed Securities Securities Issued By State and Political Subdivisions Corporate Securities Total Balance, June 30, 2023 $ - $ 22 $ 2 $ 397 $ 421 Provision for credit losses - - - 5 5 Allowance on purchased financial assets with credit deterioration - - - - - Charge-offs of securities - - - - - Recoveries - - - - - Balance, September 30, 2023 $ - $ 22 $ 2 $ 402 $ 426 The following table depicts a rollforward of the allowance for credit losses on investment securities classified as held-to-maturity for the nine months ended September 30, 2023: (In thousands) Government Issued and Government Sponsored Enterprise Securities Mortgage and Asset-backed Securities Securities Issued By State and Political Subdivisions Corporate Securities Total Balance, December 31, 2022 $ - $ - $ - $ - $ - Adjustment for the adoption of ASU 2016-13 - 40 1 409 450 Provision for credit losses - ( 18 ) 1 ( 7 ) ( 24 ) Allowance on purchased financial assets with credit deterioration - - - - - Charge-offs of securities - - - - - Recoveries - - - - - Balance, September 30, 2023 $ - $ 22 $ 2 $ 402 $ 426 The Company monitors the credit quality of the debt securities categorized as HTM primarily through the use of NRSRO credit ratings. These assessments are made on a quarterly basis. The following table summarizes the amortized cost of debt securities categorized as HTM at September 30, 2023, aggregated by credit quality indicators: (In thousands) AAA or equivalent $ 43,298 AA or equivalent, including securities issued by the United States Government or Government Sponsored Enterprises 48,032 A or equivalent $ 22,312 BBB or equivalent 15,546 BB or equivalent $ 983 Unrated 55,844 Total $ 186,015 Gross realized gains (losses) on sales and redemptions of securities for the indicated periods are detailed below: For the three months For the nine months ended September 30, ended September 30, (In thousands) 2023 2022 2023 2022 Realized gains on investments $ - $ - $ 2,021 $ 37 Realized losses on investments ( 13 ) ( 198 ) ( 1,961 ) ( 205 ) Total $ ( 13 ) $ ( 198 ) $ 60 $ ( 168 ) As of September 30, 2023 and December 31, 2022, securities with a fair value of $ 90.3 million and $ 99.8 million, respectively, were pledged to collateralize certain municipal deposit relationships. As of the same dates, securities with a fair value of $ 64.0 million and $ 38.1 million, respectively, were pledged against certain borrowing arrangements. Management has reviewed its loan and mortgage-backed securities portfolios and determined that, to the best of its knowledge, only minimal exposure exists to sub-prime or other high-risk residential mortgages. With limited exceptions in the Company’s investment portfolio involving the most senior tranches of securitized bonds, the Company is not in the practice of investing in, or originating, these types of investment securities. |
Pension and Postretirement Bene
Pension and Postretirement Benefits | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Pension and Postretirement Benefits | Note 5: Pension and Postretirement Benefits The Company has a noncontributory defined benefit pension plan covering most employees. The plan provides defined benefits based on years of service and final average salary. On May 14, 2012, the Company informed its employees of its decision to freeze participation and benefit accruals under the plan, primarily to reduce some of the volatility in earnings that can accompany the maintenance of a defined benefit plan. The plan was frozen on June 30, 2012. Compensation earned by employees up to June 30, 2012 is used for purposes of calculating benefits under the plan but there are no future benefit accruals after this date. Participants as of June 30, 2012 will continue to earn vesting credit with respect to their frozen accrued benefits as they continue to work. In addition, the Company provides certain health and life insurance benefits for a limited number of eligible retired employees. The healthcare plan is contributory with participants’ contributions adjusted annually; the life insurance plan is noncontributory. Employees with less than 14 years of service as of January 1, 1995, are not eligible for the health and life insurance retirement benefits. The composition of net periodic pension plan and postretirement plan costs for the indicated periods is as follows: Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits For the three months ended September 30, For the nine months ended September 30, (In thousands) 2023 2022 2023 2022 2023 2022 2023 2022 Service cost $ - $ - $ - $ - $ - $ - $ - $ - Interest cost 140 116 3 3 421 348 6 9 Expected return on plan assets ( 241 ) ( 267 ) - ( 724 ) ( 801 ) - Amortization of prior service credits - ( 1 ) ( 1 ) - ( 3 ) ( 4 ) Amortization of net losses 57 - ( 1 ) 2 172 - ( 3 ) 5 Net periodic benefit plan (benefit) cost $ ( 44 ) $ ( 151 ) $ 1 $ 4 $ ( 131 ) $ ( 453 ) $ - $ 10 The Company will evaluate the need for further contributions to the defined benefit pension plan during 2023. The prepaid pension asset is recorded in other assets on the consolidated statements of condition as of September 30, 2023 and December 31, 2022. |
Loans
Loans | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Loans | Note 6: Loans Major classifications of loans at the indicated dates are as follows: September 30, December 31, (In thousands) 2023 2022 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 252,956 $ 257,656 Construction 2,090 5,085 Loans held-for-sale - 19 Total residential mortgage loans 255,046 262,760 Commercial loans: Real estate 362,822 345,330 Lines of credit 73,497 82,050 Other commercial and industrial 85,506 77,273 Paycheck Protection Program loans 169 203 Tax exempt loans 3,451 4,280 Total commercial loans 525,445 509,136 Consumer loans: Home equity and junior liens 34,666 34,007 Other consumer 81,319 92,851 Total consumer loans 115,985 126,858 Total loans 896,476 898,754 Net deferred loan fees ( 353 ) ( 1,000 ) Less allowance for credit losses 15,767 15,319 Loans receivable, net $ 880,356 $ 882,435 Although the Bank may sometimes purchase or fund loan participation interests outside of its primary market areas, the Bank generally originates residential mortgage, commercial, and consumer loans largely to customers throughout Oswego and Onondaga counties. Although the Bank has a diversified loan portfolio, a substantial portion of its borrowers’ abilities to honor their loan contracts is dependent upon the counties’ employment and economic conditions. From time to time, the Bank acquires diversified pools of loans, originated by unrelated third parties, as part of the Company’s overall balance sheet management strategies. These acquisitions took place with nine separate transactions, that occurred between 2017 and 2019, with an additional six transactions occurring in 2021. The following tables detail the purchased loan pool positions held by the Bank at September 30, 2023 and December 31, 2022 (the month/year of the earliest acquisition date is depicted in parentheses): (In thousands, except number of loans) September 30, 2023 Original Balance Current Balance Unamortized Premium/ (Discount) Number of Loans Maturity Range Cumulative net charge-offs Commercial and industrial loans (6/2019) $ 6,800 $ 1,800 $ - 20 2 - 6 years $ - Home equity lines of credit (8/2019) 21,900 4,900 137 128 1 - 26 years - Unsecured consumer loan pool 2 (11/2019) 26,600 700 3 181 0 - 3 years - Residential real estate loans (12/2019) 4,300 3,700 231 48 17 - 22 years - Unsecured consumer loan pool 1 (12/2019) 5,400 1,200 - 46 1 - 4 years - Unsecured consumer installment loans pool 3 (12/2019) 10,300 500 22 186 0 - 9 years 69 Secured consumer installment loans pool 4 (12/2020) 14,500 10,700 ( 1,302 ) 502 22 - 23 years - Unsecured consumer loans pool 5 (1/2021) 24,400 16,100 ( 437 ) 661 7 - 22 years - Revolving commercial line of credit 1 (3/2021) 11,600 12,300 5 1 0 - 1 year - Secured consumer installment loans (11/2021) 21,300 18,500 ( 3,009 ) 826 17 - 24 years - Revolving commercial line of credit 2 (11/2021) 10,500 4,300 4 1 0 - 1 year - Unsecured consumer loans pool 6 (11/2021) 22,200 18,800 ( 2,235 ) 526 7 - 24 years - Total $ 179,800 $ 93,500 $ ( 6,581 ) 3,126 $ 69 (In thousands, except number of loans) December 31, 2022 Original Balance Current Balance Unamortized Premium/ (Discount) Number of Loans Maturity Range Cumulative net charge-offs Automobile loans (1/2017) paid in full at 6/30/23 $ 50,400 $ 4,200 $ 128 537 0 - 4 years $ 247 Commercial and industrial loans (6/2019) 6,800 2,100 - 22 3 - 7 years - Home equity lines of credit (8/2019) 21,900 6,000 189 143 1 - 27 years - Unsecured consumer loan pool 2 (11/2019) 26,600 1,500 11 320 0 - 2 years - Residential real estate loans (12/2019) 4,300 3,900 240 49 16 - 22 years - Unsecured consumer loan pool 1 (12/2019) 5,400 1,600 - 50 1 - 4 years - Unsecured consumer installment loans pool 3 (12/2019) 10,300 1,000 38 354 0 - 9 years 63 Secured consumer installment loans pool 4 (12/2020) 14,500 11,300 ( 1,484 ) 518 23 - 24 years - Unsecured consumer loans pool 5 (1/2021) 24,400 17,300 ( 485 ) 678 8 - 24 years - Revolving commercial line of credit 1 (3/2021) 11,600 11,400 14 1 0 - 1 year - Secured consumer installment loans (11/2021) 21,300 19,700 ( 3,237 ) 850 18 - 25 years - Revolving commercial line of credit 2 (11/2021) 10,500 15,000 23 1 0 - 1 year - Unsecured consumer loans pool 6 (11/2021) 22,200 20,200 ( 2,441 ) 540 8 - 24 years - Total $ 230,200 $ 115,200 $ ( 7,004 ) 4,063 $ 310 At September 30, 2023 the ACL related to these pools was $ 2.1 million. As of September 30, 2023 and December 31, 2022, residential mortgage loans with a carrying value of $ 114.4 million and $ 110.3 million, respectively, have been pledged by the Company to the Federal Home Loan Bank of New York (“FHLBNY”) under a blanket collateral agreement to secure the Company’s line of credit and term borrowings. Loan Origination / Risk Management The Company’s lending policies and procedures are presented in Note 5 to the audited consolidated financial statements included in the 2022 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 31, 2023 and have not changed. As part of the execution of the Company’s overall balance sheet management strategies, the Bank will acquire participating interests in loans originated by unrelated third parties on an occasional basis. The purchase of participations in loans that are originated by third parties only occurs after the completion of thorough pre-acquisition due diligence. Loans in which the Company acquires a participating interest are determined to meet, in all material respects, the Company’s internal underwriting policies, including credit and collateral suitability thresholds, prior to acquisition. In addition, the financial condition of the originating financial institutions, which are generally retained as the ongoing loan servicing provider for participations acquired by the Bank, are analyzed prior to the acquisition of the participating interests and monitored on a regular basis thereafter for the life of those interests. To develop and document a systematic methodology for determining the allowance for credit losses, the Company has divided the loan portfolio into three portfolio segments, each with different risk characteristics but with similar methodologies for assessing risk. Each portfolio segment is broken down into loan classes where appropriate. Loan classes contain unique measurement attributes, risk characteristics, and methods for monitoring and assessing risk that are necessary to develop the allowance for credit losses. Unique characteristics such as borrower type, loan type, collateral type, and risk characteristics define each class. The following table illustrates the portfolio segments and classes for the Company’s loan portfolio: Portfolio Segment Class Residential Mortgage Loans 1-4 family first-lien residential mortgages Construction Commercial Loans Real estate Lines of credit Other commercial and industrial Tax exempt loans Consumer Loans Home equity and junior liens Other consumer The following tables present the classes of the loan portfolio, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated: Revolving Term Loans By Origination Year Revolving loans converted (In thousands) 2023 2022 2021 2020 2019 Prior Loans to term loans Total Commercial Real Estate: Pass $ 39,528 $ 68,969 $ 60,100 $ 29,609 $ 51,743 $ 87,664 $ - $ - $ 337,613 Special Mention - 14,022 - - - 823 - - 14,845 Substandard 769 500 2,342 739 396 5,458 - - 10,204 Doubtful - - - - - 160 - - 160 Total Commercial Real Estate 40,297 83,491 62,442 30,348 52,139 94,105 - - 362,822 Commercial Lines of Credit: Pass - - - - - - 63,301 7,238 70,539 Special Mention - - - - - - 647 167 814 Substandard - - - - - - 743 1,384 2,127 Doubtful - - - - - - - 17 17 Total Commercial Lines of Credit - - - - - - 64,691 8,806 73,497 Other Commercial and Industrial: Pass 18,879 18,819 6,914 5,943 8,437 12,793 4,020 - 75,805 Special Mention 2,480 2 249 76 - 34 - - 2,841 Substandard 1,435 1,171 941 757 213 2,343 - - 6,860 Doubtful - - - - - - - - - Total Other Commercial and Industrial 22,794 19,992 8,104 6,776 8,650 15,170 4,020 - 85,506 Paycheck Protection Program Loans Pass - - - 169 - - - - 169 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total Paycheck Protection Program Loans - - - 169 - - - - 169 Tax Exempt Loans Pass - - 32 196 6 3,217 - - 3,451 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total Tax Exempt Loans - - 32 196 6 3,217 - - 3,451 Revolving Term Loans By Origination Year Revolving loans converted (In thousands) 2023 2022 2021 2020 2019 Prior Loans to term loans Total 1-4 family first-lien residential mortgages: Pass $ 6,873 $ 32,585 $ 52,220 $ 40,478 $ 18,902 $ 97,486 $ - $ - $ 248,544 Special Mention - - 1,471 46 61 314 - - 1,892 Substandard - - 139 447 222 1,085 - - 1,893 Doubtful - - - 154 - 473 - - 627 Total 1-4 family first-lien residential mortgages 6,873 32,585 53,830 41,125 19,185 99,358 - - 252,956 Construction: Pass 2,090 - - - - - - - 2,090 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total Construction 2,090 - - - - - - - 2,090 Home Equity and Junior Liens: Pass 8,256 2,122 1,502 802 610 2,241 17,693 685 33,911 Special Mention - - - - - - 20 9 29 Substandard - - 67 - - 29 630 - 726 Doubtful - - - - - - - - - Total Home Equity and Junior Liens 8,256 2,122 1,569 802 610 2,270 18,343 694 34,666 Other Consumer: Pass 69,076 4,291 3,226 1,455 1,735 1,454 - - 81,237 Special Mention - 14 18 6 3 1 - - 42 Substandard - 5 8 16 4 7 - - 40 Doubtful - - - - - - - - - Total Other Consumer 69,076 4,310 3,252 1,477 1,742 1,462 - - 81,319 Net Deferred Loan Fees ( 237 ) 32 98 63 ( 58 ) ( 251 ) - - ( 353 ) Total loans $ 149,149 $ 142,532 $ 129,327 $ 80,956 $ 82,274 $ 215,331 $ 87,054 $ 9,500 $ 896,123 Management has reviewed its loan portfolio and determined that, to the best of its knowledge, no material exposure exists to sub-prime or other high-risk residential mortgages. The Company is not in the practice of originating these types of loans. Nonaccrual and Past Due Loans Loans are considered past due if the required principal and interest payments have not been received within thirty days of the payment due date. Loans are placed on nonaccrual when the contractual payment of principal and interest has become 90 days past due or when management has serious doubts about further collectability of principal or interest, even though the loan may be currently performing. An aging analysis of past due loans, not including net deferred loan costs, segregated by portfolio segment and class of loans, as of September 30, 2023 and December 31, 2022, are detailed in the following tables: September 30, 2023 30-59 Days 60-89 Days 90 Days Total Total Loans (In thousands) Past Due Past Due and Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,262 $ 1,846 $ 1,610 $ 4,718 $ 248,238 $ 252,956 Construction - - - $ - 2,090 2,090 Loans held-for-sale - - - $ - - - Total residential mortgage loans 1,262 1,846 1,610 4,718 250,328 255,046 Commercial loans: Real estate 4,090 1,457 6,280 11,827 350,995 362,822 Lines of credit 1,759 10 1,513 3,282 70,215 73,497 Other commercial and industrial 571 541 3,710 4,822 80,684 85,506 Paycheck Protection Program loans - - - - 169 169 Tax exempt loans - - - - 3,451 3,451 Total commercial loans 6,420 2,008 11,503 19,931 505,514 525,445 Consumer loans: Home equity and junior liens 73 69 237 379 34,287 34,666 Other consumer 683 322 2,629 3,634 77,685 81,319 Total consumer loans 756 391 2,866 4,013 111,972 115,985 Total loans $ 8,438 $ 4,245 $ 15,979 $ 28,662 $ 867,814 $ 896,476 As of December 31, 2022 30-59 Days 60-89 Days 90 Days Total Total Loans (In thousands) Past Due Past Due and Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,627 $ 620 $ 932 $ 3,179 $ 254,477 $ 257,656 Construction - - - - 5,085 5,085 Loans held-for-sale - - - - 19 19 Total residential mortgage loans 1,627 620 932 3,179 259,581 262,760 Commercial loans: Real estate 4,974 854 3,499 9,327 336,003 345,330 Lines of credit 1,280 1,584 298 3,162 78,888 82,050 Other commercial and industrial 4,721 999 1,738 7,458 69,815 77,273 Paycheck Protection Program loans - - - - 203 203 Tax exempt loans - - - - 4,280 4,280 Total commercial loans 10,975 3,437 5,535 19,947 489,189 509,136 Consumer loans: Home equity and junior liens 23 17 279 319 33,688 34,007 Other consumer 391 239 1,904 2,534 90,317 92,851 Total consumer loans 414 256 2,183 2,853 124,005 126,858 Total loans $ 13,016 $ 4,313 $ 8,650 $ 25,979 $ 872,775 $ 898,754 Nonaccrual loans, segregated by class of loan, were as follows: September 30, December 31, (In thousands) 2023 2022 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,659 $ 1,112 1,659 1,112 Commercial loans: Real estate 6,404 3,504 Lines of credit 1,529 332 Other commercial and industrial 3,710 1,884 11,643 5,720 Consumer loans: Home equity and junior liens 237 279 Other consumer 2,634 1,904 Total consumer loans 2,871 2,183 Total nonaccrual loans $ 16,173 $ 9,015 At September 30, 2023, the Bank's 133 n onperforming loans represented 1.8 % of total loans, with an aggregate outstanding balance of $ 16.2 million, as compared to 126 loans with an aggregate outstanding balance of $ 9.0 million at December 31, 2022. This increase in nonaccrual balances of $ 7.1 million was primarily the result of the downgrade of two significant commercial real estate and commercial loan relationships. At September 30, 2023, the number of nonaccrual loans related to these two relationships was 19 loans, with an aggregate outstanding balance of $ 11.5 million, as compared to five loans with an aggregate outstanding balance of $ 1.7 million at December 31, 2022. Management is closely monitoring all nonaccrual loans and has incorporated its current estimate of the ultimate collectability of these loans into the reported allowance for credit losses at September 30, 2023. When the Company modifies a loan within a portfolio segment that is individually evaluated for impairment, a potential impairment is analyzed either based on the present value of the expected future cash flows discounted at the interest rate of the original loan terms or the fair value of the collateral less costs to sell. If it is determined that the value of the loan is less than its recorded investment, then impairment is recognized as a component of the provision for credit losses, an associated increase to the allowance for credit losses or as a charge-off to the allowance for credit losses in the current period. Impaired Loans The following table summarizes impaired loan information by portfolio class at the indicated dates: September 30, 2023 December 31, 2022 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: 1-4 family first-lien residential mortgages $ 757 $ 757 $ - $ 1,048 $ 1,048 $ - Commercial real estate 6,580 6,580 - 5,283 5,386 - Commercial lines of credit 500 500 - 2,218 2,218 - Other commercial and industrial 3,087 3,087 - 2,780 2,829 - Home equity and junior liens 82 82 - 182 182 - With an allowance recorded: 1-4 family first-lien residential mortgages 925 925 126 450 450 91 Commercial real estate 4,944 4,944 598 2,625 2,625 346 Commercial lines of credit 1,552 1,566 1,092 3,059 3,066 2,957 Other commercial and industrial 3,672 3,672 1,564 1,998 1,998 1,285 Home equity and junior liens 630 630 147 536 536 114 Total: 1-4 family first-lien residential mortgages 1,682 1,682 126 1,498 1,498 91 Commercial real estate 11,524 11,524 598 7,908 8,011 346 Commercial lines of credit 2,052 2,066 1,092 5,277 5,284 2,957 Other commercial and industrial 6,759 6,759 1,564 4,778 4,827 1,285 Home equity and junior liens 712 712 147 718 718 114 Totals $ 22,729 $ 22,743 $ 3,527 $ 20,179 $ 20,338 $ 4,793 The following table presents the average recorded investment in impaired loans for the periods indicated: For the three months ended For the nine months ended September 30, September 30, (In thousands) 2023 2022 2023 2022 1-4 family first-lien residential mortgages $ 1,678 $ 1,133 $ 1,586 $ 1,165 Commercial real estate 10,559 7,124 9,875 7,130 Commercial lines of credit 2,644 2,089 3,265 1,120 Other commercial and industrial 7,722 3,302 7,119 2,750 Home equity and junior liens 666 627 691 629 Total $ 23,269 $ 14,275 $ 22,536 $ 12,794 The following table presents the cash basis interest income recognized on impaired loans for the periods indicated: For the three months ended For the nine months ended September 30, September 30, (In thousands) 2023 2022 2023 2022 1-4 family first-lien residential mortgages $ 17 $ 12 $ 58 $ 41 Commercial real estate 95 78 231 227 Commercial lines of credit 75 45 107 90 Other commercial and industrial 88 48 145 184 Home equity and junior liens 15 16 42 19 Total $ 290 $ 199 $ 583 $ 561 |
Allowance for Credit Losses
Allowance for Credit Losses | 9 Months Ended |
Sep. 30, 2023 | |
Allowance For Loan Losses [Abstract] | |
Allowance for Credit Losses | Note 7: Allowance for Credit Losses Management extensively reviews recent trends in historical losses, qualitative factors, including concentrations of loans to related borrowers and concentrations of loans by collateral type, and specific reserve requirements on loans individually evaluated in its determination of the adequacy of the credit losses. We recorded $ 833,000 in provision for credit losses for the three month period ended September 30, 2023, as compared to $ 710,000 for the three month period ended September 30, 2022. For the first nine months of 2023, we recorded $ 2.7 million in provision for credit losses compared to $ 871,000 in the first nine months of the prior year. The increase in provision for credit losses in in the three and nine months ended September 30, 2023, as compared to the same three and nine month periods in 20 22, primarily reflected the recording of additional reserves related to two large loan relationships. The two loan relationships consisted of 19 loans, with aggregate outstanding balances of $ 11.5 million. At December 31, 2022 the Company calculated its Allowance for Loan losses utilizing the Incurred Loss Model ("ILM") methodology, as required under generally accepted accounting principles ("GAAP") on that date. On January 1, 2023, the Company adopted the Current Expected Credit Loss ("CECL") model methodology in accordance with GAAP requirements that became effective on that date. At December 31, 2022 the Company had a total allowance for loan and lease losses ("ALLL") of $ 15.3 million, of which $ 4.8 million was related to specifically-identified loans and $ 10.5 million was related to loans analyzed collectively on an aggregate pool basis. On January 1, 2023 the Company recorded a one-time CECL transition adjustment (recorded as an adjustment, net of taxes, to retained earnings) of $ 1.9 million that reversed the $ 10.5 million in the December 31, 2022 ALLL, that was related to pooled loans, evaluated collectively in the aggregate, as previously calculated under the phased-out ILM methodology, and replaced it with the ACL, as calculated under CECL, in the amount of $ 12.4 million. The $ 12.4 million CECL ACL at January 1, 2023 was composed of $ 8.4 million in reserves calculated using quantitative methodologies based on historical loss experience and $ 4.0 million based on qualitative factors, as determined by management. The $ 4.8 million in ALLL related to specifically-identified loans at December 31, 2022 was not affected by the transition to the CECL methodology at January 1, 2023. The transition to CECL on January 1, 2023 also required that new reserves be created in the amounts of $ 450,000 and $ 552,000 , related to held-to-maturity investments and unfunded commitments, respectively. Including the $ 1.9 million CECL transition adjustment related to loans, described above, the total CECL transition adjustment related to loans, securities classified as held-to-maturity and unfunded commitments was $ 2.9 million on January 1, 2023. This amount was recorded to retained earnings on that date and was not included in net income in 2023. The total provision for credit losses ("PCL") for the three and nine months ended September 30, 2023 was $ 871,000 and $ 2.7 million, respectively, of which $ 798,000 and $ 2.7 million related to the Company's loan portfolio for the three and nine months ended September 30, 2023, respectively. The ACL related to loans was therefore $ 15.8 million at September 30, 2023, composed of $ 7.1 million related to specifically-identified loans, $ 4.8 million in reserves calculated using quantitative methodologies based on historical loss experience and $ 3.9 million based on qualitative factors, as determined by management. In addition, during the third quarter of 2023, the Company recorded modest PCL increases of $ 5,000 and $ 30,000 for reserves related to securities classified as held-to-maturity and unfunded commitments, respectively. The following table summarizes all activity related to the ACL from December 31, 2022 to September 30, 2023 and to the recorded PCL for the three and nine months ended September 30, 2023: (In thousands) ACL - loans ILM 12/31/2022 CECL transition adjustment 1/1/2023 CECL ACL at 1/1/2023 Q1 2023 Charge-offs Q1 2023 Recoveries Q1 2023 PCL CECL ACL at 3/31/2023 Q2 2023 Charge-offs Q2 2023 Recoveries Q2 2023 PCL CECL ACL at 6/30/2023 Q3 2023 Charge-offs Q3 2023 Recoveries Q3 2023 PCL CECL ACL at 9/30/2023 Specifically-identified loans $ 4,793 $ - $ 4,793 $ - $ - $ 834 $ 5,627 $ 263 $ - $ 1,004 $ 6,368 $ - $ - $ 692 $ 7,060 Pooled loans under ILM 10,526 ( 10,526 ) - - - - - - - - - - - - - Pooled loans under CECL - Quantitative 8,444 8,444 100 92 255 8,691 109 116 ( 106 ) 8,592 3,874 45 17 4,780 Pooled loans under CECL - Qualitative 3,965 3,965 19 ( 397 ) 3,549 - - 287 3,836 - - 89 3,925 Total ACL related to loans $ 15,319 $ 1,883 $ 17,202 $ 119 $ 92 $ 692 $ 17,867 $ 372 $ 116 $ 1,185 $ 18,796 $ 3,874 $ 45 $ 798 $ 15,765 ACL - related to held-to-maturity investments (1) - 450 450 - - - 450 - - ( 29 ) 421 - - 5 426 ACL - related to unfunded commitments (2) - 552 552 - - - 552 - - ( 16 ) 536 - - 30 566 $ 2,885 $ 692 $ 1,140 $ 833 (1) - Reported on the Statements of Financial Condition as an adjustment to held-to-maturity investment securities (2) - Reported on the Statements of Financial Condition as an adjustment to other liabilities Summarized in the tables below are changes in the allowance for credit losses for loans for the indicated periods and information pertaining to the allocation of the balances of the credit losses, loans receivable based on individual, and collective impairment evaluation by loan portfolio class. An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class. For the three months ended September 30, 2023 1-4 family first-lien Residential Other Paycheck residential construction Commercial Commercial commercial Protection (In thousands) mortgage mortgage real estate lines of credit and industrial Program Allowance for credit losses: Beginning Balance $ 2,036 $ 634 $ 5,431 $ 2,620 $ 5,192 $ - Charge-offs ( 60 ) - - ( 1,230 ) ( 2,499 ) - Recoveries - - 24 - 5 - Provisions (credits) 31 238 ( 401 ) 483 343 - Ending balance $ 2,007 $ 872 $ 5,054 $ 1,873 $ 3,041 $ - Ending balance: related to loans $ 126 $ - $ 598 $ 1,093 $ 1,564 $ - Ending balance: related to loans $ 1,881 $ 872 $ 4,456 $ 780 $ 1,477 $ - Loans receivables: Ending balance $ 252,956 $ 2,090 $ 362,822 $ 73,497 $ 85,506 $ 169 Ending balance: individually $ 1,681 $ - $ 11,525 $ 2,052 $ 6,759 $ - Ending balance: collectively $ 251,275 $ 2,090 $ 351,297 $ 71,445 $ 78,747 $ 169 Home equity Other Tax exempt and junior liens Consumer Total Allowance for credit losses: Beginning Balance $ 15 $ 682 $ 2,186 $ 18,796 Charge-offs - - ( 84 ) ( 3,873 ) Recoveries - - 17 46 Provisions (credits) ( 2 ) 40 66 - 798 Ending balance $ 13 $ 722 $ 2,185 15,767 Ending balance: related to loans $ - $ 147 $ - $ 3,528 Ending balance: related to loans $ 13 $ 575 $ 2,185 $ 12,239 Loans receivables: Ending balance $ 3,451 $ 34,666 $ 81,319 $ 896,476 Ending balance: individually $ - $ 712 $ - $ 22,729 Ending balance: collectively $ 3,451 $ 33,954 $ 81,319 $ 873,747 For the nine months ended September 30, 2023 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for credit losses: Beginning Balance $ 714 $ - $ 5,881 $ 3,990 $ 2,944 Adoption of New Accounting Standard 1,396 969 ( 1,744 ) 95 10 Charge-offs ( 60 ) - - ( 1,230 ) ( 2,798 ) Recoveries - - 24 1 132 Provisions (credits) ( 43 ) ( 97 ) 893 ( 983 ) 2,753 Ending balance $ 2,007 $ 872 $ 5,054 $ 1,873 $ 3,041 Tax exempt Home equity and junior liens Other consumer Total Allowance for credit losses: Beginning Balance $ 3 $ 741 $ 1,046 15,319 Adoption of New Accounting Standard 14 ( 97 ) 1,243 1,886 Charge-offs - - ( 277 ) ( 4,365 ) Recoveries - - 95 252 Provisions (credits) ( 4 ) 78 78 2,675 Ending balance $ 13 $ 722 $ 2,185 $ 15,767 For the three months ended September 30, 2022 1-4 family first-lien Residential Other Paycheck residential construction Commercial Commercial commercial Protection (In thousands) mortgage mortgage real estate lines of credit and industrial Program Allowance for credit losses: Beginning Balance $ 897 $ - $ 5,522 $ 1,157 $ 2,616 $ - Charge-offs - - - - ( 134 ) - Recoveries - - - - - - Provisions (credits) ( 85 ) - 234 2,212 ( 205 ) - Ending balance $ 812 $ - $ 5,756 $ 3,369 $ 2,277 $ - Ending balance: related to loans $ 92 $ - $ 339 $ 2,184 $ 687 $ - Ending balance: related to loans $ 720 $ - $ 5,417 $ 1,185 $ 1,590 $ - Loans receivables: Ending balance $ 245,428 $ 14,623 $ 337,392 $ 80,717 $ 74,641 $ 693 Ending balance: individually $ 1,125 $ - $ 7,291 $ 4,033 $ 4,647 $ - Ending balance: collectively $ 244,303 $ 14,623 $ 330,101 $ 76,684 $ 69,994 $ 693 Home equity Other Tax exempt and junior liens Consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 4 $ 750 $ 1,543 $ 589 $ 13,078 Charge-offs - - ( 42 ) - ( 176 ) Recoveries - - 20 - 20 Provisions (credits) ( 1 ) ( 321 ) ( 578 ) ( 546 ) 710 Ending balance $ 3 $ 429 $ 943 $ 43 $ 13,632 Ending balance: related to loans $ - $ 114 $ - $ - $ 3,416 Ending balance: related to loans $ 3 $ 316 $ 943 $ 43 $ 10,216 Loans receivables: Ending balance $ 4,344 $ 33,746 $ 95,331 $ 275 $ 887,190 Ending balance: individually $ - $ 625 $ - $ - $ 17,721 Ending balance: collectively $ 4,344 $ 33,121 $ 95,331 $ 275 $ 869,469 For the nine months ended September 30, 2022 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for credit losses: Beginning Balance $ 872 $ - $ 5,308 $ 935 $ 2,762 Charge-offs ( 29 ) - ( 23 ) ( 38 ) ( 334 ) Recoveries - - 250 - 46 Provisions (credits) ( 31 ) - 221 2,472 ( 197 ) Ending balance $ 812 $ - $ 5,756 $ 3,369 $ 2,277 Tax exempt Home equity and junior liens Other consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 3 $ 774 $ 1,297 $ 984 $ 12,935 Charge-offs - - ( 122 ) - ( 546 ) Recoveries - - 76 - 372 Provisions (credits) - ( 345 ) ( 308 ) ( 941 ) 871 Ending balance $ 3 $ 429 $ 943 $ 43 $ 13,632 The Company’s methodology for determining its allowance for credit losses includes an analysis of qualitative factors that are added to the historical loss rates in arriving at the total allowance for credit losses needed for this general pool of loans. The qualitative factors include, but are not limited to, the following: • Changes in national and local economic trends; • The rate of growth in the portfolio; • Trends of delinquencies and nonaccrual balances; • Changes in loan policy; and • Changes in lending management experience and related staffing. Each factor is assigned a value to reflect improving, stable or declining conditions based on management’s best judgment using relevant information available at the time of the evaluation. These qualitative factors, applied to each product class, make the evaluation inherently subjective, as it requires material estimates that may be susceptible to significant revision as more information becomes available. Adjustments to the factors are supported through documentation of changes in conditions in a narrative accompanying the allowance for credit losses analysis and calculation. The allocation of the allowance for credit losses summarized on the basis of the Company’s calculation methodology was as follows: September 30, 2023 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 126 $ - $ 598 $ 1,093 $ 1,564 Historical loss rate 1,540 650 2,662 198 1,012 Qualitative factors 341 222 1,794 582 465 Total $ 2,007 $ 872 $ 5,054 $ 1,873 $ 3,041 Home equity Other Tax exempt and junior liens consumer Total Specifically reserved $ - $ 456 $ 1,818 $ 5,655 Historical loss rate 4 192 323 6,581 Qualitative factors 9 74 44 3,531 Total $ 13 $ 722 $ 2,185 $ 15,767 December 31, 2022 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 91 $ - $ 346 $ 2,957 $ 1,285 Historical loss rate 5 - ( 32 ) - 97 Qualitative factors 618 - 5,567 1,033 1,562 Total $ 714 $ - $ 5,881 $ 3,990 $ 2,944 Home equity Other Tax exempt and junior liens consumer Unallocated Total Specifically reserved $ - $ 114 $ - $ - $ 4,793 Historical loss rate - 321 708 - 1,099 Qualitative factors 3 306 338 - 9,427 Other - - - - - Total $ 3 $ 741 $ 1,046 $ - $ 15,319 |
Foreclosed Real Estate
Foreclosed Real Estate | 9 Months Ended |
Sep. 30, 2023 | |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | |
Foreclosed Real Estate | Note 8: Foreclosed Real Estate The Company is required to disclose the carrying amount of foreclosed real estate properties held as a result of obtaining physical possession of the property at each reporting period. (In thousands) Number of September 30, Number of properties December 31, Foreclosed real estate 5 $ 189 2 $ 221 At September 30, 2023 and December 31, 2022, the Company reported $ 1.3 million and $ 542,000 , respectively, in real estate loans in the process of foreclosure. |
Guarantees
Guarantees | 9 Months Ended |
Sep. 30, 2023 | |
Commitments and Contingencies Disclosure [Abstract] | |
Guarantees | Note 9: Guarantees The Company does not issue any guarantees that would require liability recognition or disclosure, other than its standby letters of credit. Generally, all letters of credit, when issued have expiration dates within one year. The credit risks involved in issuing letters of credit is essentially the same as those that are involved in extending loan facilities to customers. The Company generally holds collateral and/or personal guarantees supporting these commitments. The Company had $ 1.8 million of standby letters of credit as of September 30, 2023. Management believes that the proceeds obtained through a liquidation of collateral and the enforcement of guarantees would be sufficient to cover the potential amount of future payments required under the corresponding guarantees. No provision for credit losses have been made for these commitments. The fair value of standby letters of credit was not significant to the Company’s consolidated financial statements. |
Fair Value Measurements
Fair Value Measurements | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 10: Fair Value Measurements Accounting guidance related to fair value measurements and disclosures specifies a hierarchy of valuation techniques based on whether the inputs to those valuation techniques are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect the Company’s market assumptions. These two types of inputs have created the following fair value hierarchy: Level 1 – Quoted prices (unadjusted) for identical assets or liabilities in active markets that the entity has the ability to access as of the measurement date. Level 2 – Quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 3 – Model-derived valuations in which one or more significant inputs or significant value drivers are unobservable. An asset’s or liability’s level within the fair value hierarchy is based on the lowest level of input that is significant to the fair value measurement. In determining fair value, the Company utilizes valuation techniques that maximize the use of observable inputs, minimize the use of unobservable inputs, to the extent possible, and considers counterparty credit risk in its assessment of fair value. The Company used the following methods and significant assumptions to estimate fair value: Investment securities: The fair values of available-for-sale and marketable equity securities are obtained from an independent third party and are based on quoted prices on nationally recognized securities exchanges where available (Level 1). If quoted prices are not available, fair values are measured by utilizing matrix pricing, which is a mathematical technique used widely in the industry to value debt securities without relying exclusively on quoted prices for specific securities but rather by relying on the securities’ relationship to other benchmark quoted securities (Level 2). Management made no adjustment to the fair value quotes that were received from the independent third party pricing service. Level 3 securities are assets whose fair value cannot be determined by using observable measures, such as market prices or pricing models. Level 3 assets are typically very illiquid , and fair values can only be calculated using estimates or risk-adjusted value ranges. Management applies known factors, such as currently applicable discount rates, to the valuation of those investments in order to determine fair value at the reporting date. The Company hol ds two corporate investment securities with an amortized historical cost of $ 4.1 million and an aggregate fair market value of $ 4.4 million as of September 30, 2023. These securities have an aggregate valuation that is determined using published net asset values (NAV) derived by an analysis of the securities’ underlying assets. These securities are comprised primarily of broadly-diversified real estate holdings and are traded in secondary markets on an infrequent basis. While these securities are redeemable at least annually through tender offers made by respective issuers, the liquidation value of these securities may be below stated NAVs and also subject to restrictions as to the amount that can be redeemed at any single scheduled redemption. The Company anticipates that these securities will be redeemed by respective issuers on indeterminate future dates as a consequence of the ultimate liquidation strategies employed by the managers of these portfolios. The Company held two pr ivate equity security investments, acquired in 2022, with an aggregate value of $ 3.0 million at September 30, 2023, valued utilizing the unit of account (NAV) which includes; financial metrics for the company, specific operating key performance indicators, and market-related inputs. Interest rate derivatives: The fair value of the interest rate derivatives, characterized as either fair value or cash flow hedges, are calculated based on a discounted cash flow model. All future floating rate cash flows are projected and both floating rate and fixed rate cash flows are discounted to the valuation date. The benchmark interest rate curve utilized for projecting cash flows and applying appropriate discount rates is built by obtaining publicly available third party market quotes for various swap maturity terms. Impaired loans: Impaired loans are those loans in which the Company has measured impairment based on the fair value of the loan’s collateral or the discounted value of expected future cash flows. Fair value is generally determined based upon market value evaluations by third parties of the properties and/or estimates by management of working capital collateral or discounted cash flows based upon expected proceeds. These appraisals may include up to three approaches to value: the sales comparison approach, the income approach (for income-producing property), and the cost approach. Management modifies the appraised values, if needed, to take into account recent developments in the market or other factors, such as, changes in absorption rates or market conditions from the time of valuation and anticipated sales values considering management’s plans for disposition. Such modifications to the appraised values could result in lower valuations of such collateral. Estimated costs to sell are based on current amounts of disposal costs for similar assets. These measurements are classified as Level 3 within the valuation hierarchy. Impaired loans are subject to nonrecurring fair value adjustment upon initial recognition or subsequent impairment. A portion of the allowance for credit losses is allocated to impaired loans if the value of such loans is deemed to be less than the unpaid balance. The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value: September 30, 2023 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 38,146 $ - $ 38,146 State and political subdivisions - 29,143 - 29,143 Corporate - 6,961 - 6,961 Asset backed securities - 17,374 - 17,374 Residential mortgage-backed - US agency - 20,352 - 20,352 Collateralized mortgage obligations - US agency - 12,191 - 12,191 Collateralized mortgage obligations - Private label - 78,029 - 78,029 Total 202,196 202,196 Equity investment securities: Common stock - financial services industry 206 - - 206 Other Securities: Corporate measured at NAV - - - 4,446 Total available-for-sale securities $ 206 $ 202,196 $ - $ 206,848 Marketable equity securities measured at NAV $ - $ - $ - $ 3,013 Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties) $ - $ 12,516 $ - $ 12,516 Interest rate swap derivative cash flow hedges (unrealized loss carried as payable to derivative counterparties) $ - $ 909 $ - $ 909 December 31, 2022 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 29,364 $ - $ 29,364 State and political subdivisions - 45,385 - 45,385 Corporate - 7,066 - 7,066 Asset backed securities - 15,400 - 15,400 Residential mortgage-backed - US agency - 16,400 - 16,400 Collateralized mortgage obligations - US agency - 11,708 - 11,708 Collateralized mortgage obligations - Private label - 61,434 - 61,434 Total - 186,757 - 186,757 Equity investment securities: Common stock - financial services industry 206 - - 206 Other Securities: Corporate measured at NAV - - - 4,763 Total available-for-sale securities $ 206 $ 186,757 $ - $ 191,726 Marketable equity securities measured at NAV $ - $ - $ - $ 1,862 Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties) $ - $ 9,717 $ - $ 9,717 Interest rate swap derivative cash flow hedges (unrealized gain carried as receivable from derivative counterparties) $ - $ 519 $ - $ 519 Pathfinder Bank had the following assets measured at fair value on a nonrecurring basis as of September 30, 2023 and December 31, 2022: September 30, 2023 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 7,225 $ 7,225 Foreclosed real estate $ - $ - $ 189 $ 189 December 31, 2022 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 2,328 $ 2,328 Foreclosed real estate $ - $ - $ 221 $ 221 The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at the indicated dates. Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At September 30, 2023 Impaired loans Appraisal of collateral Discounted Cash Flow 12 % - 50 % ( 18 %) Foreclosed real estate Appraisal of collateral Costs to Sell 21 % - 24 % ( 22 %) Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At December 31, 2022 Impaired loans Appraisal of collateral Discounted Cash Flow 5 % - 35 % ( 17 %) (Sales Approach) Costs to Sell 7 % - 14 % ( 12 %) Foreclosed real estate Appraisal of collateral Appraisal Adjustments 15 % - 15 % ( 15 %) (Sales Approach) Costs to Sell 6 % - 9 % ( 8 %) There have been no transfers of assets into or out of any fair value measurement level during the three or nine months ended September 30, 2023. Required disclosures include fair value information of financial instruments, whether or not recognized in the consolidated statement of condition, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based on estimates using present value or other valuation techniques. Those techniques are significantly affected by the assumptions used, including the discount rate and estimates of future cash flows. In that regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, could not be realized in immediate settlement of the instrument. The Company has various processes and controls in place to ensure that fair value is reasonably estimated. The Company performs due diligence procedures over third-party pricing service providers in order to support their use in the valuation process. While the Company believes its valuation methods are appropriate and consistent with other market participants, the use of different methodologies or assumptions to determine the fair value of certain financial instruments could result in a different estimate of fair value at the reporting date. Management uses its best judgment in estimating the fair value of the Company’s financial instruments; however, there are inherent weaknesses in any estimation technique. Therefore, for substantially all financial instruments, the fair value estimates herein are not necessarily indicative of the amounts the Company could have realized in a sales transaction on the dates indicated. The estimated fair value amounts have been measured as of their respective period-ends, and have not been re-evaluated or updated for purposes of these financial statements subsequent to those respective dates. As such, the estimated fair values of these financial instruments subsequent to the respective reporting dates may be different than the amounts reported at each period-end. Under FASB ASC Topic 820 for Fair Value Measurements and Disclosures, the financial assets and liabilities were valued at a price that represents the Company’s exit price or the price at which these instruments would be sold or transferred. The following information should not be interpreted as an estimate of the fair value of the entire Company since a fair value calculation is only provided for a limited portion of the Company’s assets and liabilities. Due to a wide range of valuation techniques and the degree of subjectivity used in making the estimates, comparisons between the Company’s disclosures and those of other companies may not be meaningful. The Company, in estimating its fair value disclosures for financial instruments, used the following methods and assumptions: Cash and cash equivalents – The carrying amounts of these assets approximate their fair value and are classified as Level 1. Federal Home Loan Bank stock – The carrying amount of these assets approximates their fair value and are classified as Level 2. Net loans – For variable-rate loans that re-price frequently, fair value is based on carrying amounts. The fair value of other loans (for example, fixed-rate commercial real estate loans, mortgage loans, and commercial and industrial loans) is estimated using discounted cash flow analysis, based on interest rates currently being offered in the market for loans with similar terms to borrowers of similar credit quality. Loan value estimates include judgments based on expected prepayment rates. The measurement of the fair value of loans, including impaired loans, is classified within Level 3 of the fair value hierarchy. Accrued interest receivable and payable – The carrying amount of these assets approximates their fair value and are classified as Level 1. Deposits – The fair values disclosed for demand deposits (e.g., interest-bearing and noninterest-bearing checking, passbook savings and certain types of money management accounts) are, by definition, equal to the amount payable on demand at the reporting date (i.e., their carrying amounts) and are classified within Level 1 of the fair value hierarchy. Fair values for fixed-rate certificates of deposit are estimated using a discounted cash flow calculation that applies interest rates currently being offered in the market on certificates of deposits to a schedule of aggregated expected monthly maturities on time deposits. Measurements of the fair value of time deposits are classified within Level 2 of the fair value hierarchy. Borrowings – Fixed/variable term “bullet” structures are valued using a replacement cost of funds approach. These borrowings are discounted to the FHLBNY advance curve. Option structured borrowings’ fair values are determined by the FHLB for borrowings that include a call or conversion option. If market pricing is not available from this source, current market indications from the FHLBNY are obtained and the borrowings are discounted to the FHLBNY advance curve less an appropriate spread to adjust for the option. These measurements are classified as Level 2 within the fair value hierarchy. Subordinated debt – The Company secures quotes from its pricing service based on a discounted cash flow methodology or utilizes observations of recent highly-similar transactions which result in a Level 2 classification. The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table: September 30, 2023 December 31, 2022 Fair Value Carrying Estimated Carrying Estimated (In thousands) Hierarchy Amounts Fair Values Amounts Fair Values Financial assets: Cash and cash equivalents 1 $ 24,474 $ 24,474 $ 35,282 $ 35,282 Investment securities - available-for-sale 2 202,196 202,196 186,757 186,757 Investment securities - available-for-sale NAV 4,446 4,446 4,763 4,763 Investment securities - marketable equity NAV 3,013 3,013 1,862 1,862 Investment securities - held-to-maturity 2 185,589 170,575 194,402 181,491 Federal Home Loan Bank stock 2 5,824 5,824 5,982 5,982 Net loans 3 880,356 827,228 882,435 844,892 Accrued interest receivable 1 6,594 6,594 6,168 6,168 Interest rate swap derivative cash flow hedge receivable 2 909 909 519 519 Interest rate derivative fair value hedges receivable - AFS investments 2 6,709 6,709 8,240 8,240 Interest rate derivative fair value hedges receivable - loans 2 5,807 5,807 1,477 1,477 Financial liabilities: Demand Deposits, Savings, NOW and MMDA 1 $ 632,262 $ 632,262 $ 699,624 $ 699,624 Time Deposits 2 495,591 494,392 425,806 393,676 Borrowings 2 110,613 108,300 115,997 112,877 Subordinated debt 2 29,867 27,660 29,733 27,378 Accrued interest payable 1 1,731 1,731 975 975 |
Interest Rate Derivatives
Interest Rate Derivatives | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Interest Rate Derivatives | Note 11: Interest Rate Derivatives The Company is exposed to certain risks from both its business operations and changes in economic conditions. As part of managing interest rate risk, the Company enters into standardized interest rate derivative contracts (designated as hedging agreements) to modify the repricing characteristics of certain portions of the Company’s portfolios of earning assets and interest-bearing liabilities. The Company designates interest rate hedging agreements utilized in the management of interest rate risk as either fair value hedges or cash flow hedges. Interest rate hedging agreements are entered into with counterparties that meet the Company's established credit standards and the agreements contain master netting, collateral and/or settlement provisions protecting the at-risk party. Based on adherence to the Company’s credit standards and the presence of the netting, collateral or settlement provisions, the Company believes that the credit risk inherent in these contracts was not material at September 30, 2023. Interest rate hedging agreements are recorded at fair value as other assets or liabilities. The Company had no material derivative contracts not designated as hedging agreements at September 30, 2023 or December 31, 2022. As a result of interest rate fluctuations, fixed-rate assets and liabilities will appreciate or depreciate in fair value. When effectively hedged, this appreciation or depreciation will generally be offset by changes in the fair value of derivative instruments that are linked to the hedged assets and liabilities. This strategy is referred to as a fair value hedge. In a fair value hedge, the fair value of the derivative (the interest rate hedging agreement) and changes in the fair value of the hedged item are recorded in the Company’s consolidated balance sheet with the corresponding gain or loss recognized in current earnings. The difference between changes in the fair value of the interest rate hedging agreements and the hedged items represents hedge ineffectiveness and is recorded as an adjustment to the interest income or interest expense of the respective hedged item. Cash flows related to floating rate assets and liabilities will fluctuate with changes in underlying rate indices. When effectively hedged, the increases or decreases in cash flows related to the floating-rate asset or liability will generally be offset by changes in cash flows of the derivative instruments designated as a hedge. This strategy is referred to as a cash flow hedge. In a cash flow hedge, the effective portion of the derivative’s gain or loss is initially reported as a component of other comprehensive income and subsequently reclassified into earnings when the forecasted transaction affects earnings. The ineffective portion of the derivative’s gain or loss on cash flow hedges is accounted for similar to that associated with fair value hedges. Among the array of interest rate hedging contracts, potentially available to the Company, are interest rate swap and interest rate cap (or floor) contracts. The Company uses interest rate swaps, cap or floor contracts as part of its interest rate risk management strategy. Interest rate swaps involve the receipt of variable amounts from a counterparty in exchange for the Company making fixed payments over the life of the agreements without the exchange of the underlying notional amount. An interest rate cap is a type of interest rate derivative in which the buyer receives payments at the end of each contractual period in which the index interest rate exceeds the contractually agreed upon strike price rate. The purchaser of a cap contract will continue to benefit from any rise in interest rates above the strike price. Similarly, an interest rate floor is a derivative contract in which the buyer receives payments at the end of each period in which the interest rate is below the agreed strike price. The purchaser of a floor contract will continue to benefit from any decrease in interest rates below the strike price. The Company records various hedges in the consolidated statements of condition at fair value. The Company’s accounting treatment for these derivative instruments is based on the instruments hedge designation determined at the inception of each derivative instrument's contractual term. The following tables show the Company’s outstanding fair value hedges at September 30, 2023 and December 31, 2022: (In thousands) Carrying Amount of the Hedged Assets at Cumulative Amount of Fair Value Hedging Gains Included in the Carrying Amount of the Hedged Assets at September 30, 2023 Carrying Amount of the Hedged Assets at Cumulative Amount of Fair Value Hedging Gains Included in The Carrying Amount of the Hedged Assets at December 31, 2022 Line item on the balance sheet in which the hedged item is included: Available-for-sale securities (1) $ 53,940 $ 6,709 $ 68,741 $ 8,240 Loans receivable (2) $ 124,322 $ 5,807 $ 37,196 $ 1,477 (1) These amounts represent the amortized cost basis of specifically-identified municipal and Government Sponsored Enterprise ("GSE") debt securities designated as the underlying assets for the hedging relationship. The notional amount of the designated hedged item was $ 53.9 million and $ 68.7 million at September 30, 2023 and December 31, 2022, respectively. The fair value of the derivative resulted in a net asset position of $ 6.7 million and $ 8.2 million recorded by the Company in other assets at September 30, 2023 and December 31, 2022, respectively. (2) These amounts include the amortized cost of a specific purchased consumer loan pool and a portion of the Bank's originated residential mortgage loan portfolio designated as the underlying assets for the hedging relationships in which the hedged item is the underlying asset's amortized cost (last layer) projected to be remaining at the end of the contractual term of the hedge instrument. The fair value hedge related to the residential mortgage pool had a notional value of $ 100 million when it was instituted on April 7, 2023 and had a notional value of $ 94.3 million at September 30, 2023. The amount of the designated hedged assets were $ 124.3 million and $ 37.2 million as of September 30, 2023 and December 31, 2022, respectively. At September 30, 2023, the fair value of the derivatives resulted in a net asset position of $ 5.8 million recorded by the Company in other assets. The hedging contracts noted above, accounted for as fair value hedges, increased the yield on investment securities and loans by 0.27 % and 0.23 %, respectively, in the nine months ended September 30, 2023. The hedging contracts noted above, accounted for as fair value hedges, increased the yield on investment securities and loans by 0.01 % and 0.01 % , respectively, in the nine months ended September 30, 2022. The following tables summarize the net effects of the Company's fair value and cash flow hedges for the nine months ended September 30, 2023 and September 30, 2022, respectively: Fair Value Hedges Nine Months Ended September 30, 2023 Hedge Category Average Notional Balance Period Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Quarter End Investments $ 53,756 $ 52,120 $ 1,513 $ 6,709 Loans 83,701 110,149 1,540 5,807 Total $ 137,457 $ 162,269 $ 3,053 $ 12,516 Nine Months Ended September 30, 2022 Hedge Category Average Notional Balance Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Quarter End Investments $ 61,659 $ 66,845 $ 69 $ 8,707 Loans 20,700 20,700 62 1,103 Total $ 82,359 $ 87,545 $ 131 $ 9,810 Cash Flow Hedges Nine Months Ended September 30, 2023 Hedge Category Average Notional Balance Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Period End Borrowed Funds $ 47,778 $ 40,000 $ 748 $ 909 Nine Months Ended September 30, 2022 Hedge Category Average Notional Balance Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Period End Borrowed Funds $ 53,333 $ 40,000 $ ( 94 ) $ 699 The following table shows the pre-tax gains and losses of the Company’s derivatives designated as cash flow hedges in OCI at September 30, 2023 and December 31, 2022: (In thousands) September 30, 2023 December 31, 2022 Cash flow hedges: Fair market value adjustment interest rate swap $ 909 $ 519 Total gain in comprehensive income $ 909 $ 519 The hedging contracts noted above, accounted for as cash flow hedges, decreased the interest expense associated with MMDA accounts by 0.41 % in the nine months ended September 30, 2023 and increased the interest expense associated with MMDA accounts by 0.05 % in the nine months ended September 30, 2022. The amounts of hedge ineffectiveness, recognized at September 30, 2023 and December 31, 2022 for cash flow hedges were not material to the Company’s consolidated results of operations. A portion of, or the entire amount included in accumulated other comprehensive loss would be reclassified into current earnings should a portion of, or the entire hedge, no longer be considered effective. Management believes that the hedges will remain fully effective during the remaining term of the respective hedging contracts. The changes in the fair values of the interest rate hedging agreements primarily result from the effects of changing index interest rates and the reduction of the time each quarter between the measurement date and the contractual maturity date of the hedging instrument. The Company manages its potential credit exposure on interest rate swap transactions by entering into bilateral credit support agreements with each contractual counterparty. These agreements require collateralization of credit exposures beyond specified minimum threshold amounts. |
Accumulated Other Comprehensive
Accumulated Other Comprehensive (Loss) Income | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Accumulated Other Comprehensive Income (Loss) | Note 12: Accumulated Other Comprehensive (Loss) Income Changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of tax, for the periods indicated are summarized in the tables below. For the three months ended September 30, 2023 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 2,345 ) $ ( 9,495 ) $ 470 $ - $ ( 11,370 ) Other comprehensive (loss) income before reclassifications - ( 2,228 ) 202 - ( 2,026 ) Amounts reclassified from AOCI 41 ( 1 ) - - 40 Ending balance $ ( 2,304 ) $ ( 11,724 ) $ 672 $ - $ ( 13,356 ) For the three months ended September 30, 2022 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 1,411 ) $ ( 8,421 ) $ 431 $ 2 $ ( 9,399 ) Other comprehensive (loss) income before reclassifications - ( 3,389 ) 86 - ( 3,303 ) Amounts reclassified from AOCI 1 136 - - 137 Ending balance $ ( 1,410 ) $ ( 11,674 ) $ 517 $ 2 $ ( 12,565 ) For the nine months ended September 30, 2023 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 2,427 ) $ ( 10,127 ) $ 382 $ - $ ( 12,172 ) Other comprehensive (loss) income before reclassifications - ( 3,023 ) 290 - ( 2,733 ) Amounts reclassified from AOCI 123 1,426 - - 1,549 Ending balance $ ( 2,304 ) $ ( 11,724 ) $ 672 $ - $ ( 13,356 ) For the nine months ended September 30, 2022 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 1,412 ) $ 428 $ ( 286 ) $ 2 $ ( 1,268 ) Other comprehensive (loss) income before reclassifications - ( 12,220 ) 803 - ( 11,417 ) Amounts reclassified from AOCI 2 118 - - 120 Ending balance $ ( 1,410 ) $ ( 11,674 ) $ 517 $ 2 $ ( 12,565 ) The following table presents the amounts reclassified out of each component of AOCI for the indicated period: Amount Reclassified Amount Reclassified from AOCI (1) from AOCI (1) (Unaudited) (Unaudited) (In thousands) For the three months ended For the nine months ended Details about AOCI (1) components Affected Line Item in the Statement of Income September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Retirement plan items Retirement plan net losses (2) Salaries and employee benefits $ ( 56 ) $ ( 1 ) $ ( 167 ) $ ( 2 ) Tax effect Provision for income taxes 15 - 44 1 Net (losses) $ ( 41 ) $ ( 1 ) $ ( 123 ) $ ( 1 ) Available-for-sale securities Realized gain (loss) on sale of securities Net gains on sales and redemptions $ 1 $ ( 186 ) $ ( 1,932 ) $ ( 160 ) Tax effect Provision for income taxes - 50 506 43 Net income (losses) $ 1 $ ( 136 ) $ ( 1,426 ) $ ( 117 ) (1) Amounts in parentheses indicates debits in net income. (2) These items are included in net periodic pension cost. See Note 5 for additional information. |
Noninterest Income
Noninterest Income | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Noninterest Income | Note 13: Noninterest Income The Company has included the following table regarding the Company’s noninterest income for the periods presented. For the three months ended For the nine months ended (In thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Service charges on deposit accounts Insufficient funds fees $ 181 $ 154 $ 488 $ 406 Deposit related fees 112 120 321 332 ATM fees 50 60 104 138 Total service charges on deposit accounts 343 334 913 876 Fee Income Insurance agency revenue 310 258 1,001 849 Investment services revenue 128 140 360 365 ATM fees surcharge 61 66 168 172 Banking house rents collected 54 70 150 172 Total fee income 553 534 1,679 1,558 Card income Debit card interchange fees 22 180 455 639 Merchant card fees 19 21 46 54 Total card income 41 201 501 693 Mortgage fee income and realized gain on sale of loans Loan servicing fees 99 74 238 260 Net gains on sales of loans and foreclosed real estate 41 47 183 122 Total mortgage fee income and realized gain on sale of 140 121 421 382 Total 1,077 1,190 3,514 3,509 Earnings and gain on bank owned life insurance 165 156 466 441 Net (losses) gains on sale and redemption of investment ( 13 ) ( 198 ) 60 ( 168 ) (Losses) gains on marketable equity securities ( 39 ) - ( 208 ) 39 Other miscellaneous income 3 13 40 239 Total noninterest income $ 1,193 $ 1,161 $ 3,872 $ 4,060 The following is a discussion of key revenues within the scope of ASC 606 guidance: • Service charges on deposit accounts – Revenue is earned through insufficient funds fees, customer initiated activities or passage of time for deposit related fees, and ATM service fees. Transaction-based fees are recognized at the time the transaction is executed, which is the same time the Company’s performance obligation is satisfied. Account maintenance fees are earned over the course of the month as the monthly maintenance performance obligation to the customer is satisfied. • Fee income – Revenue is earned through commissions on insurance and securities sales, ATM surcharge fees, and banking house rents collected. The Company earns investment advisory fee income by providing investment management services to customers under investment management contracts. As the direction of investment management accounts is provided over time, the performance obligation to investment management customers is satisfied over time, and therefore, revenue is recognized over time. • Card income – Card income consists of interchange fees from consumer debit card networks and other related services. Interchange rates are set by the card networks. Interchange fees are based on purchase volumes and other factors and are recognized as transactions occur. • Mortgage fee income and realized gain on sale of loans and foreclosed real estate – Revenue from mortgage fee income and realized gain on sale of loans and foreclosed real estate is earned through the origination of residential and commercial mortgage loans, sales of one-to-four family residential mortgage loans, sales of government guarantees portions of Small Business Administration loans (“SBA loans”), and sales of foreclosed real estate, and is earned as the transaction occurs. |
Leases
Leases | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Leases | Note 14: Leases The Company has operating and finance leases for certain banking offices and land under noncancelable agreements. Our leases have remaining lease terms that vary fro m 2 years up to 29 years, some of which include options to extend the leases for various renewal periods. All options to renew are included in the current lease term when we believe it is reasonably certain that the renewal options will be exercised. The components of lease expense are as follows: For the three months ended For the nine months ended (In thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease cost $ 53 $ 57 $ 170 $ 170 Finance lease cost 56 21 167 62 Supplemental cash flow information related to leases was as follows: For the three months ended For the nine months ended (In thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Cash paid for amount included in the measurement of lease liabilities: Operating cash flows from operating leases $ 48 $ 53 $ 156 $ 158 Operating cash flows from finance leases 56 21 167 62 Financing cash flows from finance leases 31 19 93 55 Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rate) September 30, 2023 December 31, 2022 Operating Leases: Operating lease right-of-use assets $ 1,559 $ 2,098 Operating lease liabilities 1,739 2,417 Finance Leases: Finance lease right-of-use assets $ 4,108 $ 4,213 Finance lease liability 4,391 4,422 Weighted Average Remaining Lease Term: Operating Leases 17.28 years 18.28 years Finance Leases 27.60 years 28.35 years Weighted Average Discount Rate: Operating Leases 3.88 % 3.85 % Finance Leases 9.40 % 9.41 % Maturities of lease liabilities are as follows: Twelve Months Ending September 30, (In thousands) 2024 $ 33 2025 164 2026 166 2027 168 2028 178 Thereafter 5,421 Total minimum lease payments $ 6,130 The Company owns certain properties that it leases to unaffiliated third parties at market rates. Lease rental income was $ 53,000 and $ 70,000 for the three months ended September 30, 2023 and 2022, respectively. Lease rental income was $ 149,000 and $ 172,000 for the nine months ended September 30, 2023 and 2022, respectively. The lease agreements in which the Company is the lessor are a mix of operating and finance leases. |
Related Party Transactions
Related Party Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | Note 15: Related Party Transactions: In the ordinary course of business, the Company has granted loans to certain directors, executive officers and their affiliates (collectively referred to as “related parties”). None of the related party loans were classified as nonaccrual, past due, restructured, or potential problem loans at September 30, 2023 or December 31, 2022. The following represents the activity associated with loans to related parties during the nine months ended September 30, 2023 and the year ended December 31, 2022: September 30, December 31, (In thousands) 2023 2022 Balance at the beginning of the year $ 32,531 $ 22,427 Originations and related party additions 3,010 15,278 Principal payments and related party removals ( 2,558 ) ( 5,174 ) Balance at the end of the period $ 32,983 $ 32,531 |
Earnings per Common Share (Tabl
Earnings per Common Share (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
Calculations of Basic and Diluted Earnings per Share | The following table sets forth the calculation of basic and diluted earnings per share. Three months ended Nine months ended September 30, September 30, (In thousands, except share and per share data) 2023 2022 2023 2022 Net income attributable to Pathfinder Bancorp, Inc. $ 2,176 $ 3,180 $ 6,757 $ 9,402 Series A Non-Voting Common Stock dividends 124 125 373 373 Warrant dividends 12 11 34 34 Undistributed earnings allocated to participating securities 395 653 1,248 1,930 Net income available to common shareholders-Voting $ 1,645 $ 2,391 $ 5,102 $ 7,065 Net income attributable to Pathfinder Bancorp, Inc. $ 2,176 $ 3,180 $ 6,757 $ 9,402 Voting Common Stock dividends 422 411 1,256 1,231 Warrant dividends 12 11 34 34 Undistributed earnings allocated to participating securities 1,257 2,034 3,950 5,994 Net income available to common shareholders-Series A Non-Voting $ 485 $ 724 $ 1,517 $ 2,143 Basic and diluted weighted average common shares outstanding-Voting 4,671 4,564 4,640 4,550 Basic and diluted weighted average common shares outstanding-Series A Non-Voting 1,380 1,380 1,380 1,380 Basic and diluted earnings per common share-Voting $ 0.35 $ 0.52 $ 1.10 $ 1.55 Basic and diluted earnings per common share-Series A Non-Voting $ 0.35 $ 0.52 $ 1.10 $ 1.55 |
Investment Securities (Tables)
Investment Securities (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Investments, Debt and Equity Securities [Abstract] | |
Amortized Cost and Estimated Fair Value of Investment Securities | The amortized cost and estimated fair value of investment securities are summarized as follows: September 30, 2023 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 42,034 $ 295 $ ( 4,183 ) $ 38,146 State and political subdivisions 33,157 - ( 4,014 ) 29,143 Corporate 11,519 389 ( 501 ) 11,407 Asset backed securities 17,751 - ( 377 ) 17,374 Residential mortgage-backed - US agency 21,826 - ( 1,474 ) 20,352 Collateralized mortgage obligations - US agency 13,534 - ( 1,343 ) 12,191 Collateralized mortgage obligations - Private label 82,692 105 ( 4,768 ) 78,029 Total 222,513 789 ( 16,660 ) 206,642 Equity investment securities: Common stock - financial services industry 206 - - 206 Total 206 - - 206 Total available-for-sale $ 222,719 $ 789 $ ( 16,660 ) $ 206,848 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 3,770 $ - $ ( 415 ) $ 3,355 State and political subdivisions 15,698 - ( 2,562 ) 13,136 Corporate 45,436 22 ( 4,004 ) 41,454 Asset backed securities 17,609 - ( 1,277 ) 16,332 Residential mortgage-backed - US agency 7,206 - ( 893 ) 6,313 Collateralized mortgage obligations - US agency 13,339 - ( 1,691 ) 11,648 Collateralized mortgage obligations - Private label 82,957 31 ( 4,651 ) 78,337 Total 186,015 53 ( 15,493 ) 170,575 Less: Allowance for credit losses 426 - - - Total held-to-maturity $ 185,589 $ 53 $ ( 15,493 ) $ 170,575 December 31, 2022 Gross Gross Estimated Amortized Unrealized Unrealized Fair (In thousands) Cost Gains Losses Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 32,533 $ 37 $ ( 3,206 ) $ 29,364 State and political subdivisions 48,002 384 ( 3,001 ) 45,385 Corporate 11,803 676 ( 650 ) 11,829 Asset backed securities 16,059 - ( 659 ) 15,400 Residential mortgage-backed - US agency 17,982 - ( 1,582 ) 16,400 Collateralized mortgage obligations - US agency 13,070 - ( 1,362 ) 11,708 Collateralized mortgage obligations - Private label 65,781 8 ( 4,355 ) 61,434 Total 205,230 1,105 ( 14,815 ) 191,520 Equity investment securities: Common stock - financial services industry 206 - - 206 Total 206 - - 206 Total available-for-sale $ 205,436 $ 1,105 $ ( 14,815 ) $ 191,726 Held-to-Maturity Portfolio Debt investment securities: US Treasury, agencies and GSEs $ 3,852 $ - $ ( 280 ) $ 3,572 State and political subdivisions 15,211 - ( 2,340 ) 12,871 Corporate 45,086 2 ( 2,586 ) 42,502 Asset backed securities 19,158 - ( 1,291 ) 17,867 Residential mortgage-backed - US agency 7,489 - ( 739 ) 6,750 Collateralized mortgage obligations - US agency 15,109 - ( 1,251 ) 13,858 Collateralized mortgage obligations - Private label 88,497 4 ( 4,430 ) 84,071 Total held-to-maturity $ 194,402 $ 6 $ ( 12,917 ) $ 181,491 |
Amortized Cost and Estimated Fair Value of Debt Investments by Contractual Maturity | The amortized cost and estimated fair value of debt investments at September 30, 2023 by contractual maturity are shown below. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without penalties. Available-for-Sale Held-to-Maturity Amortized Estimated Amortized Estimated (In thousands) Cost Fair Value Cost Fair Value Due in one year or less $ 8,603 $ 8,953 $ 1,136 $ 1,129 Due after one year through five years 11,254 10,604 19,536 18,879 Due after five years through ten years 36,174 32,090 43,469 38,405 Due after ten years 48,430 44,423 18,372 15,864 Sub-total 104,461 96,070 82,513 74,277 Residential mortgage-backed - US agency 21,826 20,352 7,206 6,313 Collateralized mortgage obligations - US agency 13,534 12,191 13,339 11,648 Collateralized mortgage obligations - Private label 82,692 78,029 82,957 78,337 Totals $ 222,513 $ 206,642 $ 186,015 $ 170,575 |
Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category and Length of Time that Individual Securities Have Continuous Unrealized Loss Position | The Company’s investment securities’ gross unrealized losses and fair value, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position, are as follows: September 30, 2023 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (In thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSEs 3 $ ( 42 ) $ 5,963 3 $ ( 4,141 ) $ 24,819 6 $ ( 4,183 ) $ 30,782 State and political subdivisions 1 ( 25 ) 1,387 24 ( 3,989 ) 27,756 25 ( 4,014 ) 29,143 Corporate 2 ( 1 ) 1,500 5 ( 500 ) 4,221 7 ( 501 ) 5,721 Asset backed securities 1 ( 14 ) 954 10 ( 363 ) 14,404 11 ( 377 ) 15,358 Residential mortgage-backed - US agency 1 ( 1 ) 5,372 15 ( 1,473 ) 14,981 16 ( 1,474 ) 20,353 Collateralized mortgage obligations - US agency 2 ( 59 ) 3,920 11 ( 1,284 ) 8,271 13 ( 1,343 ) 12,191 Collateralized mortgage obligations - Private label 12 ( 293 ) 23,505 32 ( 4,475 ) 46,483 44 ( 4,768 ) 69,988 Totals 22 $ ( 435 ) $ 42,601 100 $ ( 16,225 ) $ 140,935 122 $ ( 16,660 ) $ 183,536 Held-to-Maturity Portfolio US Treasury, agencies and GSEs - $ - $ - 2 $ ( 415 ) $ 3,355 2 $ ( 415 ) $ 3,355 State and political subdivisions 5 ( 41 ) 1,052 14 ( 2,521 ) 12,083 19 ( 2,562 ) 13,135 Corporate 2 ( 142 ) 858 38 ( 3,862 ) 32,397 40 ( 4,004 ) 33,255 Asset backed securities 2 ( 11 ) 2,938 8 ( 1,266 ) 11,163 10 ( 1,277 ) 14,101 Residential mortgage-backed - US agency 3 ( 3 ) 1,452 9 ( 890 ) 4,861 12 ( 893 ) 6,313 Collateralized mortgage obligations - US agency - - - 10 ( 1,691 ) 11,648 10 ( 1,691 ) 11,648 Collateralized mortgage obligations - Private label 10 ( 417 ) 13,068 42 ( 4,234 ) 58,610 52 ( 4,651 ) 71,678 Totals 22 $ ( 614 ) $ 19,368 123 $ ( 14,879 ) $ 134,117 145 $ ( 15,493 ) $ 153,485 December 31, 2022 Less than Twelve Months Twelve Months or More Total Number of Number of Number of Individual Unrealized Fair Individual Unrealized Fair Individual Unrealized Fair (In thousands) Securities Losses Value Securities Losses Value Securities Losses Value Available-for-Sale Portfolio US Treasury, agencies and GSEs - $ - $ - 3 $ ( 3,206 ) $ 26,167 3 $ ( 3,206 ) $ 26,167 State and political subdivisions 10 ( 830 ) 12,601 17 ( 2,171 ) 20,128 27 ( 3,001 ) 32,729 Corporate 7 ( 269 ) 5,720 2 ( 381 ) 1,319 9 ( 650 ) 7,039 Asset backed securities 5 ( 148 ) 5,473 5 ( 511 ) 9,926 10 ( 659 ) 15,399 Residential mortgage-backed - US agency 10 ( 131 ) 2,747 5 ( 1,451 ) 13,653 15 ( 1,582 ) 16,400 Collateralized mortgage obligations - US agency 6 ( 238 ) 4,009 6 ( 1,124 ) 7,700 12 ( 1,362 ) 11,709 Collateralized mortgage obligations - Private label 15 ( 1,684 ) 20,429 19 ( 2,671 ) 33,707 34 ( 4,355 ) 54,136 Totals 53 $ ( 3,300 ) $ 50,979 57 $ ( 11,515 ) $ 112,600 110 $ ( 14,815 ) $ 163,579 Held-to-Maturity Portfolio US Treasury, agencies and GSE's 2 $ ( 280 ) $ 3,573 - - $ - 2 $ ( 280 ) $ 3,573 State and political subdivisions 7 ( 871 ) 7,277 7 ( 1,469 ) 5,077 14 ( 2,340 ) 12,354 Corporate 31 ( 1,786 ) 29,213 9 ( 800 ) 6,803 40 ( 2,586 ) 36,016 Asset backed securities 6 ( 625 ) 9,742 3 ( 666 ) 3,674 9 ( 1,291 ) 13,416 Residential mortgage-backed - US agency 10 ( 736 ) 6,577 1 ( 3 ) 107 11 ( 739 ) 6,684 Collateralized mortgage obligations - US agency 10 ( 1,236 ) 12,965 1 ( 15 ) 892 11 ( 1,251 ) 13,857 Collateralized mortgage obligations - Private label 38 ( 2,719 ) 58,061 8 ( 1,711 ) 12,532 46 ( 4,430 ) 70,593 Totals 104 $ ( 8,253 ) $ 127,408 29 $ ( 4,664 ) $ 29,085 133 $ ( 12,917 ) $ 156,493 |
Allowance for Credit Losses on Investment Securities Classified as Held-to-maturity | The following table depicts a rollforward of the allowance for credit losses on investment securities classified as held-to-maturity for the three months ended September 30, 2023: (In thousands) Government Issued and Government Sponsored Enterprise Securities Mortgage and Asset-backed Securities Securities Issued By State and Political Subdivisions Corporate Securities Total Balance, June 30, 2023 $ - $ 22 $ 2 $ 397 $ 421 Provision for credit losses - - - 5 5 Allowance on purchased financial assets with credit deterioration - - - - - Charge-offs of securities - - - - - Recoveries - - - - - Balance, September 30, 2023 $ - $ 22 $ 2 $ 402 $ 426 The following table depicts a rollforward of the allowance for credit losses on investment securities classified as held-to-maturity for the nine months ended September 30, 2023: (In thousands) Government Issued and Government Sponsored Enterprise Securities Mortgage and Asset-backed Securities Securities Issued By State and Political Subdivisions Corporate Securities Total Balance, December 31, 2022 $ - $ - $ - $ - $ - Adjustment for the adoption of ASU 2016-13 - 40 1 409 450 Provision for credit losses - ( 18 ) 1 ( 7 ) ( 24 ) Allowance on purchased financial assets with credit deterioration - - - - - Charge-offs of securities - - - - - Recoveries - - - - - Balance, September 30, 2023 $ - $ 22 $ 2 $ 402 $ 426 |
Amortized Cost of Debt Securities Categorized as Held-to-maturity Aggregated by Credit Quality | The following table summarizes the amortized cost of debt securities categorized as HTM at September 30, 2023, aggregated by credit quality indicators: (In thousands) AAA or equivalent $ 43,298 AA or equivalent, including securities issued by the United States Government or Government Sponsored Enterprises 48,032 A or equivalent $ 22,312 BBB or equivalent 15,546 BB or equivalent $ 983 Unrated 55,844 Total $ 186,015 |
Gross Realized Gains (Losses) on Sale and Redemptions of Securities | Gross realized gains (losses) on sales and redemptions of securities for the indicated periods are detailed below: For the three months For the nine months ended September 30, ended September 30, (In thousands) 2023 2022 2023 2022 Realized gains on investments $ - $ - $ 2,021 $ 37 Realized losses on investments ( 13 ) ( 198 ) ( 1,961 ) ( 205 ) Total $ ( 13 ) $ ( 198 ) $ 60 $ ( 168 ) |
Pension and Postretirement Be_2
Pension and Postretirement Benefits (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Composition of Net Periodic Pension and Postretirement Plan Costs | The composition of net periodic pension plan and postretirement plan costs for the indicated periods is as follows: Pension Benefits Postretirement Benefits Pension Benefits Postretirement Benefits For the three months ended September 30, For the nine months ended September 30, (In thousands) 2023 2022 2023 2022 2023 2022 2023 2022 Service cost $ - $ - $ - $ - $ - $ - $ - $ - Interest cost 140 116 3 3 421 348 6 9 Expected return on plan assets ( 241 ) ( 267 ) - ( 724 ) ( 801 ) - Amortization of prior service credits - ( 1 ) ( 1 ) - ( 3 ) ( 4 ) Amortization of net losses 57 - ( 1 ) 2 172 - ( 3 ) 5 Net periodic benefit plan (benefit) cost $ ( 44 ) $ ( 151 ) $ 1 $ 4 $ ( 131 ) $ ( 453 ) $ - $ 10 |
Loans (Tables)
Loans (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Receivables [Abstract] | |
Major Classification of Loans | Major classifications of loans at the indicated dates are as follows: September 30, December 31, (In thousands) 2023 2022 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 252,956 $ 257,656 Construction 2,090 5,085 Loans held-for-sale - 19 Total residential mortgage loans 255,046 262,760 Commercial loans: Real estate 362,822 345,330 Lines of credit 73,497 82,050 Other commercial and industrial 85,506 77,273 Paycheck Protection Program loans 169 203 Tax exempt loans 3,451 4,280 Total commercial loans 525,445 509,136 Consumer loans: Home equity and junior liens 34,666 34,007 Other consumer 81,319 92,851 Total consumer loans 115,985 126,858 Total loans 896,476 898,754 Net deferred loan fees ( 353 ) ( 1,000 ) Less allowance for credit losses 15,767 15,319 Loans receivable, net $ 880,356 $ 882,435 |
Summary of Purchased Loans Pools | The following tables detail the purchased loan pool positions held by the Bank at September 30, 2023 and December 31, 2022 (the month/year of the earliest acquisition date is depicted in parentheses): (In thousands, except number of loans) September 30, 2023 Original Balance Current Balance Unamortized Premium/ (Discount) Number of Loans Maturity Range Cumulative net charge-offs Commercial and industrial loans (6/2019) $ 6,800 $ 1,800 $ - 20 2 - 6 years $ - Home equity lines of credit (8/2019) 21,900 4,900 137 128 1 - 26 years - Unsecured consumer loan pool 2 (11/2019) 26,600 700 3 181 0 - 3 years - Residential real estate loans (12/2019) 4,300 3,700 231 48 17 - 22 years - Unsecured consumer loan pool 1 (12/2019) 5,400 1,200 - 46 1 - 4 years - Unsecured consumer installment loans pool 3 (12/2019) 10,300 500 22 186 0 - 9 years 69 Secured consumer installment loans pool 4 (12/2020) 14,500 10,700 ( 1,302 ) 502 22 - 23 years - Unsecured consumer loans pool 5 (1/2021) 24,400 16,100 ( 437 ) 661 7 - 22 years - Revolving commercial line of credit 1 (3/2021) 11,600 12,300 5 1 0 - 1 year - Secured consumer installment loans (11/2021) 21,300 18,500 ( 3,009 ) 826 17 - 24 years - Revolving commercial line of credit 2 (11/2021) 10,500 4,300 4 1 0 - 1 year - Unsecured consumer loans pool 6 (11/2021) 22,200 18,800 ( 2,235 ) 526 7 - 24 years - Total $ 179,800 $ 93,500 $ ( 6,581 ) 3,126 $ 69 (In thousands, except number of loans) December 31, 2022 Original Balance Current Balance Unamortized Premium/ (Discount) Number of Loans Maturity Range Cumulative net charge-offs Automobile loans (1/2017) paid in full at 6/30/23 $ 50,400 $ 4,200 $ 128 537 0 - 4 years $ 247 Commercial and industrial loans (6/2019) 6,800 2,100 - 22 3 - 7 years - Home equity lines of credit (8/2019) 21,900 6,000 189 143 1 - 27 years - Unsecured consumer loan pool 2 (11/2019) 26,600 1,500 11 320 0 - 2 years - Residential real estate loans (12/2019) 4,300 3,900 240 49 16 - 22 years - Unsecured consumer loan pool 1 (12/2019) 5,400 1,600 - 50 1 - 4 years - Unsecured consumer installment loans pool 3 (12/2019) 10,300 1,000 38 354 0 - 9 years 63 Secured consumer installment loans pool 4 (12/2020) 14,500 11,300 ( 1,484 ) 518 23 - 24 years - Unsecured consumer loans pool 5 (1/2021) 24,400 17,300 ( 485 ) 678 8 - 24 years - Revolving commercial line of credit 1 (3/2021) 11,600 11,400 14 1 0 - 1 year - Secured consumer installment loans (11/2021) 21,300 19,700 ( 3,237 ) 850 18 - 25 years - Revolving commercial line of credit 2 (11/2021) 10,500 15,000 23 1 0 - 1 year - Unsecured consumer loans pool 6 (11/2021) 22,200 20,200 ( 2,441 ) 540 8 - 24 years - Total $ 230,200 $ 115,200 $ ( 7,004 ) 4,063 $ 310 |
Schedule of aggregate pass rating and the classified ratings | The following tables present the classes of the loan portfolio, summarized by the aggregate pass rating and the classified ratings of special mention, substandard and doubtful within the Company's internal risk rating system as of the dates indicated: Revolving Term Loans By Origination Year Revolving loans converted (In thousands) 2023 2022 2021 2020 2019 Prior Loans to term loans Total Commercial Real Estate: Pass $ 39,528 $ 68,969 $ 60,100 $ 29,609 $ 51,743 $ 87,664 $ - $ - $ 337,613 Special Mention - 14,022 - - - 823 - - 14,845 Substandard 769 500 2,342 739 396 5,458 - - 10,204 Doubtful - - - - - 160 - - 160 Total Commercial Real Estate 40,297 83,491 62,442 30,348 52,139 94,105 - - 362,822 Commercial Lines of Credit: Pass - - - - - - 63,301 7,238 70,539 Special Mention - - - - - - 647 167 814 Substandard - - - - - - 743 1,384 2,127 Doubtful - - - - - - - 17 17 Total Commercial Lines of Credit - - - - - - 64,691 8,806 73,497 Other Commercial and Industrial: Pass 18,879 18,819 6,914 5,943 8,437 12,793 4,020 - 75,805 Special Mention 2,480 2 249 76 - 34 - - 2,841 Substandard 1,435 1,171 941 757 213 2,343 - - 6,860 Doubtful - - - - - - - - - Total Other Commercial and Industrial 22,794 19,992 8,104 6,776 8,650 15,170 4,020 - 85,506 Paycheck Protection Program Loans Pass - - - 169 - - - - 169 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total Paycheck Protection Program Loans - - - 169 - - - - 169 Tax Exempt Loans Pass - - 32 196 6 3,217 - - 3,451 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total Tax Exempt Loans - - 32 196 6 3,217 - - 3,451 Revolving Term Loans By Origination Year Revolving loans converted (In thousands) 2023 2022 2021 2020 2019 Prior Loans to term loans Total 1-4 family first-lien residential mortgages: Pass $ 6,873 $ 32,585 $ 52,220 $ 40,478 $ 18,902 $ 97,486 $ - $ - $ 248,544 Special Mention - - 1,471 46 61 314 - - 1,892 Substandard - - 139 447 222 1,085 - - 1,893 Doubtful - - - 154 - 473 - - 627 Total 1-4 family first-lien residential mortgages 6,873 32,585 53,830 41,125 19,185 99,358 - - 252,956 Construction: Pass 2,090 - - - - - - - 2,090 Special Mention - - - - - - - - - Substandard - - - - - - - - - Doubtful - - - - - - - - - Total Construction 2,090 - - - - - - - 2,090 Home Equity and Junior Liens: Pass 8,256 2,122 1,502 802 610 2,241 17,693 685 33,911 Special Mention - - - - - - 20 9 29 Substandard - - 67 - - 29 630 - 726 Doubtful - - - - - - - - - Total Home Equity and Junior Liens 8,256 2,122 1,569 802 610 2,270 18,343 694 34,666 Other Consumer: Pass 69,076 4,291 3,226 1,455 1,735 1,454 - - 81,237 Special Mention - 14 18 6 3 1 - - 42 Substandard - 5 8 16 4 7 - - 40 Doubtful - - - - - - - - - Total Other Consumer 69,076 4,310 3,252 1,477 1,742 1,462 - - 81,319 Net Deferred Loan Fees ( 237 ) 32 98 63 ( 58 ) ( 251 ) - - ( 353 ) Total loans $ 149,149 $ 142,532 $ 129,327 $ 80,956 $ 82,274 $ 215,331 $ 87,054 $ 9,500 $ 896,123 |
Age Analysis of Past Due Loans Segregated by Portfolio Segment and Class of Loans | An aging analysis of past due loans, not including net deferred loan costs, segregated by portfolio segment and class of loans, as of September 30, 2023 and December 31, 2022, are detailed in the following tables: September 30, 2023 30-59 Days 60-89 Days 90 Days Total Total Loans (In thousands) Past Due Past Due and Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,262 $ 1,846 $ 1,610 $ 4,718 $ 248,238 $ 252,956 Construction - - - $ - 2,090 2,090 Loans held-for-sale - - - $ - - - Total residential mortgage loans 1,262 1,846 1,610 4,718 250,328 255,046 Commercial loans: Real estate 4,090 1,457 6,280 11,827 350,995 362,822 Lines of credit 1,759 10 1,513 3,282 70,215 73,497 Other commercial and industrial 571 541 3,710 4,822 80,684 85,506 Paycheck Protection Program loans - - - - 169 169 Tax exempt loans - - - - 3,451 3,451 Total commercial loans 6,420 2,008 11,503 19,931 505,514 525,445 Consumer loans: Home equity and junior liens 73 69 237 379 34,287 34,666 Other consumer 683 322 2,629 3,634 77,685 81,319 Total consumer loans 756 391 2,866 4,013 111,972 115,985 Total loans $ 8,438 $ 4,245 $ 15,979 $ 28,662 $ 867,814 $ 896,476 As of December 31, 2022 30-59 Days 60-89 Days 90 Days Total Total Loans (In thousands) Past Due Past Due and Over Past Due Current Receivable Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,627 $ 620 $ 932 $ 3,179 $ 254,477 $ 257,656 Construction - - - - 5,085 5,085 Loans held-for-sale - - - - 19 19 Total residential mortgage loans 1,627 620 932 3,179 259,581 262,760 Commercial loans: Real estate 4,974 854 3,499 9,327 336,003 345,330 Lines of credit 1,280 1,584 298 3,162 78,888 82,050 Other commercial and industrial 4,721 999 1,738 7,458 69,815 77,273 Paycheck Protection Program loans - - - - 203 203 Tax exempt loans - - - - 4,280 4,280 Total commercial loans 10,975 3,437 5,535 19,947 489,189 509,136 Consumer loans: Home equity and junior liens 23 17 279 319 33,688 34,007 Other consumer 391 239 1,904 2,534 90,317 92,851 Total consumer loans 414 256 2,183 2,853 124,005 126,858 Total loans $ 13,016 $ 4,313 $ 8,650 $ 25,979 $ 872,775 $ 898,754 |
Nonaccrual Loans Segregated by Class of Loan | Nonaccrual loans, segregated by class of loan, were as follows: September 30, December 31, (In thousands) 2023 2022 Residential mortgage loans: 1-4 family first-lien residential mortgages $ 1,659 $ 1,112 1,659 1,112 Commercial loans: Real estate 6,404 3,504 Lines of credit 1,529 332 Other commercial and industrial 3,710 1,884 11,643 5,720 Consumer loans: Home equity and junior liens 237 279 Other consumer 2,634 1,904 Total consumer loans 2,871 2,183 Total nonaccrual loans $ 16,173 $ 9,015 |
Summary of Impaired Loan Information by Portfolio Class | The following table summarizes impaired loan information by portfolio class at the indicated dates: September 30, 2023 December 31, 2022 Unpaid Unpaid Recorded Principal Related Recorded Principal Related (In thousands) Investment Balance Allowance Investment Balance Allowance With no related allowance recorded: 1-4 family first-lien residential mortgages $ 757 $ 757 $ - $ 1,048 $ 1,048 $ - Commercial real estate 6,580 6,580 - 5,283 5,386 - Commercial lines of credit 500 500 - 2,218 2,218 - Other commercial and industrial 3,087 3,087 - 2,780 2,829 - Home equity and junior liens 82 82 - 182 182 - With an allowance recorded: 1-4 family first-lien residential mortgages 925 925 126 450 450 91 Commercial real estate 4,944 4,944 598 2,625 2,625 346 Commercial lines of credit 1,552 1,566 1,092 3,059 3,066 2,957 Other commercial and industrial 3,672 3,672 1,564 1,998 1,998 1,285 Home equity and junior liens 630 630 147 536 536 114 Total: 1-4 family first-lien residential mortgages 1,682 1,682 126 1,498 1,498 91 Commercial real estate 11,524 11,524 598 7,908 8,011 346 Commercial lines of credit 2,052 2,066 1,092 5,277 5,284 2,957 Other commercial and industrial 6,759 6,759 1,564 4,778 4,827 1,285 Home equity and junior liens 712 712 147 718 718 114 Totals $ 22,729 $ 22,743 $ 3,527 $ 20,179 $ 20,338 $ 4,793 |
Average Recorded Investment In Impaired Loans | The following table presents the average recorded investment in impaired loans for the periods indicated: For the three months ended For the nine months ended September 30, September 30, (In thousands) 2023 2022 2023 2022 1-4 family first-lien residential mortgages $ 1,678 $ 1,133 $ 1,586 $ 1,165 Commercial real estate 10,559 7,124 9,875 7,130 Commercial lines of credit 2,644 2,089 3,265 1,120 Other commercial and industrial 7,722 3,302 7,119 2,750 Home equity and junior liens 666 627 691 629 Total $ 23,269 $ 14,275 $ 22,536 $ 12,794 |
Cash Basis Interest Income Recognized On Impaired Loans | The following table presents the cash basis interest income recognized on impaired loans for the periods indicated: For the three months ended For the nine months ended September 30, September 30, (In thousands) 2023 2022 2023 2022 1-4 family first-lien residential mortgages $ 17 $ 12 $ 58 $ 41 Commercial real estate 95 78 231 227 Commercial lines of credit 75 45 107 90 Other commercial and industrial 88 48 145 184 Home equity and junior liens 15 16 42 19 Total $ 290 $ 199 $ 583 $ 561 |
Amortized Cost of Debt Securities Categorized as Held-to-maturity Aggregated by Credit Quality | The following table summarizes the amortized cost of debt securities categorized as HTM at September 30, 2023, aggregated by credit quality indicators: (In thousands) AAA or equivalent $ 43,298 AA or equivalent, including securities issued by the United States Government or Government Sponsored Enterprises 48,032 A or equivalent $ 22,312 BBB or equivalent 15,546 BB or equivalent $ 983 Unrated 55,844 Total $ 186,015 |
Allowance for Credit Losses (Ta
Allowance for Credit Losses (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Allowance For Loan Losses [Abstract] | |
Schedule of Changes in the Allowance for Credit Losses | The following table summarizes all activity related to the ACL from December 31, 2022 to September 30, 2023 and to the recorded PCL for the three and nine months ended September 30, 2023: (In thousands) ACL - loans ILM 12/31/2022 CECL transition adjustment 1/1/2023 CECL ACL at 1/1/2023 Q1 2023 Charge-offs Q1 2023 Recoveries Q1 2023 PCL CECL ACL at 3/31/2023 Q2 2023 Charge-offs Q2 2023 Recoveries Q2 2023 PCL CECL ACL at 6/30/2023 Q3 2023 Charge-offs Q3 2023 Recoveries Q3 2023 PCL CECL ACL at 9/30/2023 Specifically-identified loans $ 4,793 $ - $ 4,793 $ - $ - $ 834 $ 5,627 $ 263 $ - $ 1,004 $ 6,368 $ - $ - $ 692 $ 7,060 Pooled loans under ILM 10,526 ( 10,526 ) - - - - - - - - - - - - - Pooled loans under CECL - Quantitative 8,444 8,444 100 92 255 8,691 109 116 ( 106 ) 8,592 3,874 45 17 4,780 Pooled loans under CECL - Qualitative 3,965 3,965 19 ( 397 ) 3,549 - - 287 3,836 - - 89 3,925 Total ACL related to loans $ 15,319 $ 1,883 $ 17,202 $ 119 $ 92 $ 692 $ 17,867 $ 372 $ 116 $ 1,185 $ 18,796 $ 3,874 $ 45 $ 798 $ 15,765 ACL - related to held-to-maturity investments (1) - 450 450 - - - 450 - - ( 29 ) 421 - - 5 426 ACL - related to unfunded commitments (2) - 552 552 - - - 552 - - ( 16 ) 536 - - 30 566 $ 2,885 $ 692 $ 1,140 $ 833 (1) - Reported on the Statements of Financial Condition as an adjustment to held-to-maturity investment securities (2) - Reported on the Statements of Financial Condition as an adjustment to other liabilities |
Schedule of Changes in the Allowance for Loan Losses | An allocation of a portion of the allowance to a given portfolio class does not limit the Company’s ability to absorb losses in another portfolio class. For the three months ended September 30, 2023 1-4 family first-lien Residential Other Paycheck residential construction Commercial Commercial commercial Protection (In thousands) mortgage mortgage real estate lines of credit and industrial Program Allowance for credit losses: Beginning Balance $ 2,036 $ 634 $ 5,431 $ 2,620 $ 5,192 $ - Charge-offs ( 60 ) - - ( 1,230 ) ( 2,499 ) - Recoveries - - 24 - 5 - Provisions (credits) 31 238 ( 401 ) 483 343 - Ending balance $ 2,007 $ 872 $ 5,054 $ 1,873 $ 3,041 $ - Ending balance: related to loans $ 126 $ - $ 598 $ 1,093 $ 1,564 $ - Ending balance: related to loans $ 1,881 $ 872 $ 4,456 $ 780 $ 1,477 $ - Loans receivables: Ending balance $ 252,956 $ 2,090 $ 362,822 $ 73,497 $ 85,506 $ 169 Ending balance: individually $ 1,681 $ - $ 11,525 $ 2,052 $ 6,759 $ - Ending balance: collectively $ 251,275 $ 2,090 $ 351,297 $ 71,445 $ 78,747 $ 169 Home equity Other Tax exempt and junior liens Consumer Total Allowance for credit losses: Beginning Balance $ 15 $ 682 $ 2,186 $ 18,796 Charge-offs - - ( 84 ) ( 3,873 ) Recoveries - - 17 46 Provisions (credits) ( 2 ) 40 66 - 798 Ending balance $ 13 $ 722 $ 2,185 15,767 Ending balance: related to loans $ - $ 147 $ - $ 3,528 Ending balance: related to loans $ 13 $ 575 $ 2,185 $ 12,239 Loans receivables: Ending balance $ 3,451 $ 34,666 $ 81,319 $ 896,476 Ending balance: individually $ - $ 712 $ - $ 22,729 Ending balance: collectively $ 3,451 $ 33,954 $ 81,319 $ 873,747 For the nine months ended September 30, 2023 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for credit losses: Beginning Balance $ 714 $ - $ 5,881 $ 3,990 $ 2,944 Adoption of New Accounting Standard 1,396 969 ( 1,744 ) 95 10 Charge-offs ( 60 ) - - ( 1,230 ) ( 2,798 ) Recoveries - - 24 1 132 Provisions (credits) ( 43 ) ( 97 ) 893 ( 983 ) 2,753 Ending balance $ 2,007 $ 872 $ 5,054 $ 1,873 $ 3,041 Tax exempt Home equity and junior liens Other consumer Total Allowance for credit losses: Beginning Balance $ 3 $ 741 $ 1,046 15,319 Adoption of New Accounting Standard 14 ( 97 ) 1,243 1,886 Charge-offs - - ( 277 ) ( 4,365 ) Recoveries - - 95 252 Provisions (credits) ( 4 ) 78 78 2,675 Ending balance $ 13 $ 722 $ 2,185 $ 15,767 For the three months ended September 30, 2022 1-4 family first-lien Residential Other Paycheck residential construction Commercial Commercial commercial Protection (In thousands) mortgage mortgage real estate lines of credit and industrial Program Allowance for credit losses: Beginning Balance $ 897 $ - $ 5,522 $ 1,157 $ 2,616 $ - Charge-offs - - - - ( 134 ) - Recoveries - - - - - - Provisions (credits) ( 85 ) - 234 2,212 ( 205 ) - Ending balance $ 812 $ - $ 5,756 $ 3,369 $ 2,277 $ - Ending balance: related to loans $ 92 $ - $ 339 $ 2,184 $ 687 $ - Ending balance: related to loans $ 720 $ - $ 5,417 $ 1,185 $ 1,590 $ - Loans receivables: Ending balance $ 245,428 $ 14,623 $ 337,392 $ 80,717 $ 74,641 $ 693 Ending balance: individually $ 1,125 $ - $ 7,291 $ 4,033 $ 4,647 $ - Ending balance: collectively $ 244,303 $ 14,623 $ 330,101 $ 76,684 $ 69,994 $ 693 Home equity Other Tax exempt and junior liens Consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 4 $ 750 $ 1,543 $ 589 $ 13,078 Charge-offs - - ( 42 ) - ( 176 ) Recoveries - - 20 - 20 Provisions (credits) ( 1 ) ( 321 ) ( 578 ) ( 546 ) 710 Ending balance $ 3 $ 429 $ 943 $ 43 $ 13,632 Ending balance: related to loans $ - $ 114 $ - $ - $ 3,416 Ending balance: related to loans $ 3 $ 316 $ 943 $ 43 $ 10,216 Loans receivables: Ending balance $ 4,344 $ 33,746 $ 95,331 $ 275 $ 887,190 Ending balance: individually $ - $ 625 $ - $ - $ 17,721 Ending balance: collectively $ 4,344 $ 33,121 $ 95,331 $ 275 $ 869,469 For the nine months ended September 30, 2022 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Allowance for credit losses: Beginning Balance $ 872 $ - $ 5,308 $ 935 $ 2,762 Charge-offs ( 29 ) - ( 23 ) ( 38 ) ( 334 ) Recoveries - - 250 - 46 Provisions (credits) ( 31 ) - 221 2,472 ( 197 ) Ending balance $ 812 $ - $ 5,756 $ 3,369 $ 2,277 Tax exempt Home equity and junior liens Other consumer Unallocated Total Allowance for credit losses: Beginning Balance $ 3 $ 774 $ 1,297 $ 984 $ 12,935 Charge-offs - - ( 122 ) - ( 546 ) Recoveries - - 76 - 372 Provisions (credits) - ( 345 ) ( 308 ) ( 941 ) 871 Ending balance $ 3 $ 429 $ 943 $ 43 $ 13,632 |
Schedule of Allowance for Loan Losses on Basis of Calculation Methodology | The allocation of the allowance for credit losses summarized on the basis of the Company’s calculation methodology was as follows: September 30, 2023 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 126 $ - $ 598 $ 1,093 $ 1,564 Historical loss rate 1,540 650 2,662 198 1,012 Qualitative factors 341 222 1,794 582 465 Total $ 2,007 $ 872 $ 5,054 $ 1,873 $ 3,041 Home equity Other Tax exempt and junior liens consumer Total Specifically reserved $ - $ 456 $ 1,818 $ 5,655 Historical loss rate 4 192 323 6,581 Qualitative factors 9 74 44 3,531 Total $ 13 $ 722 $ 2,185 $ 15,767 December 31, 2022 1-4 family first-lien Residential Other residential construction Commercial Commercial commercial (In thousands) mortgage mortgage real estate lines of credit and industrial Specifically reserved $ 91 $ - $ 346 $ 2,957 $ 1,285 Historical loss rate 5 - ( 32 ) - 97 Qualitative factors 618 - 5,567 1,033 1,562 Total $ 714 $ - $ 5,881 $ 3,990 $ 2,944 Home equity Other Tax exempt and junior liens consumer Unallocated Total Specifically reserved $ - $ 114 $ - $ - $ 4,793 Historical loss rate - 321 708 - 1,099 Qualitative factors 3 306 338 - 9,427 Other - - - - - Total $ 3 $ 741 $ 1,046 $ - $ 15,319 |
Foreclosed Real Estate (Tables)
Foreclosed Real Estate (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Schedule Of Real Estate Properties | |
Schedule of Real Estate Properties | The Company is required to disclose the carrying amount of foreclosed real estate properties held as a result of obtaining physical possession of the property at each reporting period. (In thousands) Number of September 30, Number of properties December 31, Foreclosed real estate 5 $ 189 2 $ 221 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Assets on Recurring Basis Segregated by Level of Valuation Inputs | The following tables summarize assets measured at fair value on a recurring basis as of the indicated dates, segregated by the level of valuation inputs within the hierarchy utilized to measure fair value: September 30, 2023 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 38,146 $ - $ 38,146 State and political subdivisions - 29,143 - 29,143 Corporate - 6,961 - 6,961 Asset backed securities - 17,374 - 17,374 Residential mortgage-backed - US agency - 20,352 - 20,352 Collateralized mortgage obligations - US agency - 12,191 - 12,191 Collateralized mortgage obligations - Private label - 78,029 - 78,029 Total 202,196 202,196 Equity investment securities: Common stock - financial services industry 206 - - 206 Other Securities: Corporate measured at NAV - - - 4,446 Total available-for-sale securities $ 206 $ 202,196 $ - $ 206,848 Marketable equity securities measured at NAV $ - $ - $ - $ 3,013 Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties) $ - $ 12,516 $ - $ 12,516 Interest rate swap derivative cash flow hedges (unrealized loss carried as payable to derivative counterparties) $ - $ 909 $ - $ 909 December 31, 2022 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Available-for-Sale Portfolio Debt investment securities: US Treasury, agencies and GSEs $ - $ 29,364 $ - $ 29,364 State and political subdivisions - 45,385 - 45,385 Corporate - 7,066 - 7,066 Asset backed securities - 15,400 - 15,400 Residential mortgage-backed - US agency - 16,400 - 16,400 Collateralized mortgage obligations - US agency - 11,708 - 11,708 Collateralized mortgage obligations - Private label - 61,434 - 61,434 Total - 186,757 - 186,757 Equity investment securities: Common stock - financial services industry 206 - - 206 Other Securities: Corporate measured at NAV - - - 4,763 Total available-for-sale securities $ 206 $ 186,757 $ - $ 191,726 Marketable equity securities measured at NAV $ - $ - $ - $ 1,862 Interest rate swap derivative fair value hedges (unrealized gain carried as receivable from derivative counterparties) $ - $ 9,717 $ - $ 9,717 Interest rate swap derivative cash flow hedges (unrealized gain carried as receivable from derivative counterparties) $ - $ 519 $ - $ 519 |
Summary of Fair Value Assets Measured on Nonrecurring Basis | Pathfinder Bank had the following assets measured at fair value on a nonrecurring basis as of September 30, 2023 and December 31, 2022: September 30, 2023 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 7,225 $ 7,225 Foreclosed real estate $ - $ - $ 189 $ 189 December 31, 2022 Total Fair (In thousands) Level 1 Level 2 Level 3 Value Impaired loans $ - $ - $ 2,328 $ 2,328 Foreclosed real estate $ - $ - $ 221 $ 221 |
Fair Value Inputs, Quantitative Information | The following table presents additional quantitative information about assets measured at fair value on a nonrecurring basis and for which Level 3 inputs were used to determine fair value at the indicated dates. Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At September 30, 2023 Impaired loans Appraisal of collateral Discounted Cash Flow 12 % - 50 % ( 18 %) Foreclosed real estate Appraisal of collateral Costs to Sell 21 % - 24 % ( 22 %) Quantitative Information about Level 3 Fair Value Measurements Valuation Unobservable Range Techniques Input (Weighted Avg.) At December 31, 2022 Impaired loans Appraisal of collateral Discounted Cash Flow 5 % - 35 % ( 17 %) (Sales Approach) Costs to Sell 7 % - 14 % ( 12 %) Foreclosed real estate Appraisal of collateral Appraisal Adjustments 15 % - 15 % ( 15 %) (Sales Approach) Costs to Sell 6 % - 9 % ( 8 %) |
Carrying Amounts and Fair Value of Financial Instruments | The carrying amounts and fair values of the Company’s financial instruments as of the indicated dates are presented in the following table: September 30, 2023 December 31, 2022 Fair Value Carrying Estimated Carrying Estimated (In thousands) Hierarchy Amounts Fair Values Amounts Fair Values Financial assets: Cash and cash equivalents 1 $ 24,474 $ 24,474 $ 35,282 $ 35,282 Investment securities - available-for-sale 2 202,196 202,196 186,757 186,757 Investment securities - available-for-sale NAV 4,446 4,446 4,763 4,763 Investment securities - marketable equity NAV 3,013 3,013 1,862 1,862 Investment securities - held-to-maturity 2 185,589 170,575 194,402 181,491 Federal Home Loan Bank stock 2 5,824 5,824 5,982 5,982 Net loans 3 880,356 827,228 882,435 844,892 Accrued interest receivable 1 6,594 6,594 6,168 6,168 Interest rate swap derivative cash flow hedge receivable 2 909 909 519 519 Interest rate derivative fair value hedges receivable - AFS investments 2 6,709 6,709 8,240 8,240 Interest rate derivative fair value hedges receivable - loans 2 5,807 5,807 1,477 1,477 Financial liabilities: Demand Deposits, Savings, NOW and MMDA 1 $ 632,262 $ 632,262 $ 699,624 $ 699,624 Time Deposits 2 495,591 494,392 425,806 393,676 Borrowings 2 110,613 108,300 115,997 112,877 Subordinated debt 2 29,867 27,660 29,733 27,378 Accrued interest payable 1 1,731 1,731 975 975 |
Interest Rate Derivatives (Tabl
Interest Rate Derivatives (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Cumulative Basis Adjustments for Fair Value Hedges | The following tables show the Company’s outstanding fair value hedges at September 30, 2023 and December 31, 2022: (In thousands) Carrying Amount of the Hedged Assets at Cumulative Amount of Fair Value Hedging Gains Included in the Carrying Amount of the Hedged Assets at September 30, 2023 Carrying Amount of the Hedged Assets at Cumulative Amount of Fair Value Hedging Gains Included in The Carrying Amount of the Hedged Assets at December 31, 2022 Line item on the balance sheet in which the hedged item is included: Available-for-sale securities (1) $ 53,940 $ 6,709 $ 68,741 $ 8,240 Loans receivable (2) $ 124,322 $ 5,807 $ 37,196 $ 1,477 (1) These amounts represent the amortized cost basis of specifically-identified municipal and Government Sponsored Enterprise ("GSE") debt securities designated as the underlying assets for the hedging relationship. The notional amount of the designated hedged item was $ 53.9 million and $ 68.7 million at September 30, 2023 and December 31, 2022, respectively. The fair value of the derivative resulted in a net asset position of $ 6.7 million and $ 8.2 million recorded by the Company in other assets at September 30, 2023 and December 31, 2022, respectively. (2) These amounts include the amortized cost of a specific purchased consumer loan pool and a portion of the Bank's originated residential mortgage loan portfolio designated as the underlying assets for the hedging relationships in which the hedged item is the underlying asset's amortized cost (last layer) projected to be remaining at the end of the contractual term of the hedge instrument. The fair value hedge related to the residential mortgage pool had a notional value of $ 100 million when it was instituted on April 7, 2023 and had a notional value of $ 94.3 million at September 30, 2023. The amount of the designated hedged assets were $ 124.3 million and $ 37.2 million as of September 30, 2023 and December 31, 2022, respectively. At September 30, 2023, the fair value of the derivatives resulted in a net asset position of $ 5.8 million recorded by the Company in other assets. |
Schedule of Cash Flow Hedges | The following table shows the pre-tax gains and losses of the Company’s derivatives designated as cash flow hedges in OCI at September 30, 2023 and December 31, 2022: (In thousands) September 30, 2023 December 31, 2022 Cash flow hedges: Fair market value adjustment interest rate swap $ 909 $ 519 Total gain in comprehensive income $ 909 $ 519 |
Hedge transcations increased the net income | The following tables summarize the net effects of the Company's fair value and cash flow hedges for the nine months ended September 30, 2023 and September 30, 2022, respectively: Fair Value Hedges Nine Months Ended September 30, 2023 Hedge Category Average Notional Balance Period Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Quarter End Investments $ 53,756 $ 52,120 $ 1,513 $ 6,709 Loans 83,701 110,149 1,540 5,807 Total $ 137,457 $ 162,269 $ 3,053 $ 12,516 Nine Months Ended September 30, 2022 Hedge Category Average Notional Balance Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Quarter End Investments $ 61,659 $ 66,845 $ 69 $ 8,707 Loans 20,700 20,700 62 1,103 Total $ 82,359 $ 87,545 $ 131 $ 9,810 Cash Flow Hedges Nine Months Ended September 30, 2023 Hedge Category Average Notional Balance Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Period End Borrowed Funds $ 47,778 $ 40,000 $ 748 $ 909 Nine Months Ended September 30, 2022 Hedge Category Average Notional Balance Ending Notional Balance Net Cash Received (Paid) Recorded In Net Income Fair Value Receivable (Payable) at Period End Borrowed Funds $ 53,333 $ 40,000 $ ( 94 ) $ 699 |
Accumulated Other Comprehensi_2
Accumulated Other Comprehensive (Loss) Income (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | |
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax | Changes in the components of accumulated other comprehensive (loss) income (“AOCI”), net of tax, for the periods indicated are summarized in the tables below. For the three months ended September 30, 2023 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 2,345 ) $ ( 9,495 ) $ 470 $ - $ ( 11,370 ) Other comprehensive (loss) income before reclassifications - ( 2,228 ) 202 - ( 2,026 ) Amounts reclassified from AOCI 41 ( 1 ) - - 40 Ending balance $ ( 2,304 ) $ ( 11,724 ) $ 672 $ - $ ( 13,356 ) For the three months ended September 30, 2022 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 1,411 ) $ ( 8,421 ) $ 431 $ 2 $ ( 9,399 ) Other comprehensive (loss) income before reclassifications - ( 3,389 ) 86 - ( 3,303 ) Amounts reclassified from AOCI 1 136 - - 137 Ending balance $ ( 1,410 ) $ ( 11,674 ) $ 517 $ 2 $ ( 12,565 ) For the nine months ended September 30, 2023 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 2,427 ) $ ( 10,127 ) $ 382 $ - $ ( 12,172 ) Other comprehensive (loss) income before reclassifications - ( 3,023 ) 290 - ( 2,733 ) Amounts reclassified from AOCI 123 1,426 - - 1,549 Ending balance $ ( 2,304 ) $ ( 11,724 ) $ 672 $ - $ ( 13,356 ) For the nine months ended September 30, 2022 (In thousands) Net Unrealized Loss on Retirement Plans Unrealized Loss on Available-for-Sale Securities Unrealized Gain on Derivatives and Hedging Activities Unrealized Gain on Securities Transferred to Held-to-Maturity Total Beginning balance $ ( 1,412 ) $ 428 $ ( 286 ) $ 2 $ ( 1,268 ) Other comprehensive (loss) income before reclassifications - ( 12,220 ) 803 - ( 11,417 ) Amounts reclassified from AOCI 2 118 - - 120 Ending balance $ ( 1,410 ) $ ( 11,674 ) $ 517 $ 2 $ ( 12,565 ) |
Schedule of Amounts Reclassified Out of Each Component of AOCI | The following table presents the amounts reclassified out of each component of AOCI for the indicated period: Amount Reclassified Amount Reclassified from AOCI (1) from AOCI (1) (Unaudited) (Unaudited) (In thousands) For the three months ended For the nine months ended Details about AOCI (1) components Affected Line Item in the Statement of Income September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Retirement plan items Retirement plan net losses (2) Salaries and employee benefits $ ( 56 ) $ ( 1 ) $ ( 167 ) $ ( 2 ) Tax effect Provision for income taxes 15 - 44 1 Net (losses) $ ( 41 ) $ ( 1 ) $ ( 123 ) $ ( 1 ) Available-for-sale securities Realized gain (loss) on sale of securities Net gains on sales and redemptions $ 1 $ ( 186 ) $ ( 1,932 ) $ ( 160 ) Tax effect Provision for income taxes - 50 506 43 Net income (losses) $ 1 $ ( 136 ) $ ( 1,426 ) $ ( 117 ) (1) Amounts in parentheses indicates debits in net income. (2) These items are included in net periodic pension cost. See Note 5 for additional information. |
Noninterest Income (Tables)
Noninterest Income (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Summary of Noninterest Income | The Company has included the following table regarding the Company’s noninterest income for the periods presented. For the three months ended For the nine months ended (In thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Service charges on deposit accounts Insufficient funds fees $ 181 $ 154 $ 488 $ 406 Deposit related fees 112 120 321 332 ATM fees 50 60 104 138 Total service charges on deposit accounts 343 334 913 876 Fee Income Insurance agency revenue 310 258 1,001 849 Investment services revenue 128 140 360 365 ATM fees surcharge 61 66 168 172 Banking house rents collected 54 70 150 172 Total fee income 553 534 1,679 1,558 Card income Debit card interchange fees 22 180 455 639 Merchant card fees 19 21 46 54 Total card income 41 201 501 693 Mortgage fee income and realized gain on sale of loans Loan servicing fees 99 74 238 260 Net gains on sales of loans and foreclosed real estate 41 47 183 122 Total mortgage fee income and realized gain on sale of 140 121 421 382 Total 1,077 1,190 3,514 3,509 Earnings and gain on bank owned life insurance 165 156 466 441 Net (losses) gains on sale and redemption of investment ( 13 ) ( 198 ) 60 ( 168 ) (Losses) gains on marketable equity securities ( 39 ) - ( 208 ) 39 Other miscellaneous income 3 13 40 239 Total noninterest income $ 1,193 $ 1,161 $ 3,872 $ 4,060 |
Leases (Tables)
Leases (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Leases [Abstract] | |
Components of Lease Expense | The components of lease expense are as follows: For the three months ended For the nine months ended (In thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Operating lease cost $ 53 $ 57 $ 170 $ 170 Finance lease cost 56 21 167 62 |
Supplemental Cash Flow Information Related to Leases | Supplemental cash flow information related to leases was as follows: For the three months ended For the nine months ended (In thousands) September 30, 2023 September 30, 2022 September 30, 2023 September 30, 2022 Cash paid for amount included in the measurement of lease liabilities: Operating cash flows from operating leases $ 48 $ 53 $ 156 $ 158 Operating cash flows from finance leases 56 21 167 62 Financing cash flows from finance leases 31 19 93 55 |
Supplemental Balance Sheet Information Related to Leases | Supplemental balance sheet information related to leases was as follows: (In thousands, except lease term and discount rate) September 30, 2023 December 31, 2022 Operating Leases: Operating lease right-of-use assets $ 1,559 $ 2,098 Operating lease liabilities 1,739 2,417 Finance Leases: Finance lease right-of-use assets $ 4,108 $ 4,213 Finance lease liability 4,391 4,422 Weighted Average Remaining Lease Term: Operating Leases 17.28 years 18.28 years Finance Leases 27.60 years 28.35 years Weighted Average Discount Rate: Operating Leases 3.88 % 3.85 % Finance Leases 9.40 % 9.41 % |
Maturities of Lease Liabilities | Maturities of lease liabilities are as follows: Twelve Months Ending September 30, (In thousands) 2024 $ 33 2025 164 2026 166 2027 168 2028 178 Thereafter 5,421 Total minimum lease payments $ 6,130 |
Related Party Transactions (Tab
Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Related Party Transactions [Abstract] | |
Schedule of Loans to Related Parties | The following represents the activity associated with loans to related parties during the nine months ended September 30, 2023 and the year ended December 31, 2022: September 30, December 31, (In thousands) 2023 2022 Balance at the beginning of the year $ 32,531 $ 22,427 Originations and related party additions 3,010 15,278 Principal payments and related party removals ( 2,558 ) ( 5,174 ) Balance at the end of the period $ 32,983 $ 32,531 |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Details) | Sep. 30, 2023 |
Nature of Operations [Line Items] | |
Consolidation of membership interest in Fitzgibbons | 100% |
FitzGibbons Agency LLC [Member] | Pathfinder Risk Management Company Inc [Member] | |
Nature of Operations [Line Items] | |
Membership interest own in Fitzgibbons through subsidiary | 51% |
Noncontrolling interest by subsidiary | 49% |
Earnings per Common Share - Add
Earnings per Common Share - Additional Information (Details) - shares | 3 Months Ended | 9 Months Ended | |||
Jun. 04, 2021 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||||
Conversion of preferred stock, shares converted | 1,380,283 | ||||
Conversion of stock, description | the Company converted 1,380,283 shares of its Series B Convertible Perpetual Preferred Stock ("Convertible Perpetual Preferred Stock") to an equal number of shares of its newly-created Series A Non-Voting Common Stock. | ||||
Stock Option [Member] | |||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | |||||
Anti-dilutive stock options (in shares) | 0 | 0 | 0 | 0 |
Earnings per Common Share - Cal
Earnings per Common Share - Calculations of Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Net income attributable to Pathfinder Bancorp, Inc. | $ 2,176 | $ 3,180 | $ 6,757 | $ 9,402 |
Voting Common Stock dividends | $ 0.09 | $ 0.09 | $ 0.27 | $ 0.27 |
Warrant dividends | $ 12 | $ 11 | $ 34 | $ 34 |
Series A Nonvoting Common Stock [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Voting Common Stock dividends | $ 124 | $ 125 | $ 373 | $ 373 |
Warrant dividends | $ 12 | $ 11 | $ 34 | $ 34 |
Undistributed earnings allocated to participating securities | 1,257 | 2,034 | 3,950 | 5,994 |
Net income available to common shareholders- Voting | $ 485 | $ 724 | $ 1,517 | $ 2,143 |
Basic weighted average common shares outstanding- Voting | 1,380 | 1,380 | 1,380 | 1,380 |
Diluted weighted average common shares outstanding- Voting | 1,380 | 1,380 | 1,380 | 1,380 |
Voting Earnings per common share- basic | $ 0.35 | $ 0.52 | $ 1.1 | $ 1.55 |
Voting Earnings per common share - diluted | 0.35 | 0.52 | 1.1 | 1.55 |
Voting Common Stock [Member] | ||||
Antidilutive Securities Excluded From Computation Of Earnings Per Share [Line Items] | ||||
Voting Common Stock dividends | $ 422 | $ 411 | $ 1,256 | $ 1,231 |
Undistributed earnings allocated to participating securities | $ 395 | $ 653 | $ 1,248 | $ 1,930 |
Net income available to common shareholders- Voting | $ 1,645 | $ 2,391 | $ 5,102 | $ 7,065 |
Basic weighted average common shares outstanding- Voting | 4,671 | 4,564 | 4,640 | 4,550 |
Diluted weighted average common shares outstanding- Voting | 4,671 | 4,564 | 4,640 | 4,550 |
Voting Earnings per common share- basic | $ 0.35 | $ 0.52 | $ 1.1 | $ 1.55 |
Voting Earnings per common share - diluted | $ 0.35 | $ 0.52 | $ 1.1 | $ 1.55 |
Investment Securities - Amortiz
Investment Securities - Amortized Cost and Estimated Fair Value of Investment Securities (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | $ 222,513 | $ 205,230 |
Gross Unrealized Gains, Debt investment securities | 789 | 1,105 |
Gross Unrealized Losses, Debt investment securities | (16,660) | (14,815) |
Available-for-sale Securities, Debt investment securities | 206,642 | 191,520 |
Amortized cost, equity securities | 206 | 206 |
Gross Unrealized Gains, Equity investment securities | 0 | 0 |
Gross Unrealized Losses, Equity investment securities | 0 | 0 |
Available-for-sale Securities, Equity investment securities | 206 | 206 |
Total investment securities, amortized cost basis | 222,719 | 205,436 |
Gross Unrealized Gains | 789 | 1,105 |
Gross Unrealized Losses | (16,660) | (14,815) |
Estimated Fair Value | 206,848 | 191,726 |
Total | 186,015 | |
Less: Allowance for credit losses | 426 | |
Total available-for-sale | 185,589 | 194,402 |
Held to maturity, gross unrealized gains | 53 | 6 |
Held to maturity, gross unrealized losses | (15,493) | (12,917) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 170,575 | 181,491 |
US Treasury, Agencies and GSEs [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 42,034 | 32,533 |
Gross Unrealized Gains, Debt investment securities | 295 | 37 |
Gross Unrealized Losses, Debt investment securities | (4,183) | (3,206) |
Available-for-sale Securities, Debt investment securities | 38,146 | 29,364 |
Total available-for-sale | 3,770 | 3,852 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | (415) | (280) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 3,355 | 3,572 |
State and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 33,157 | 48,002 |
Gross Unrealized Gains, Debt investment securities | 0 | 384 |
Gross Unrealized Losses, Debt investment securities | (4,014) | (3,001) |
Available-for-sale Securities, Debt investment securities | 29,143 | 45,385 |
Total available-for-sale | 15,698 | 15,211 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | (2,562) | (2,340) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 13,136 | 12,871 |
Corporate [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 11,519 | 11,803 |
Gross Unrealized Gains, Debt investment securities | 389 | 676 |
Gross Unrealized Losses, Debt investment securities | (501) | (650) |
Available-for-sale Securities, Debt investment securities | 11,407 | 11,829 |
Total available-for-sale | 45,436 | 45,086 |
Held to maturity, gross unrealized gains | 22 | 2 |
Held to maturity, gross unrealized losses | (4,004) | (2,586) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 41,454 | 42,502 |
Asset Backed Securities [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 17,751 | 16,059 |
Gross Unrealized Gains, Debt investment securities | 0 | 0 |
Gross Unrealized Losses, Debt investment securities | (377) | (659) |
Available-for-sale Securities, Debt investment securities | 17,374 | 15,400 |
Total available-for-sale | 17,609 | 19,158 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | (1,277) | (1,291) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 16,332 | 17,867 |
Residential Mortgage-Backed - US Agency [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 21,826 | 17,982 |
Gross Unrealized Gains, Debt investment securities | 0 | 0 |
Gross Unrealized Losses, Debt investment securities | (1,474) | (1,582) |
Available-for-sale Securities, Debt investment securities | 20,352 | 16,400 |
Total available-for-sale | 7,206 | 7,489 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | (893) | (739) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 6,313 | 6,750 |
Collateralized Mortgage Obligations - US Agency [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 13,534 | 13,070 |
Gross Unrealized Gains, Debt investment securities | 0 | 0 |
Gross Unrealized Losses, Debt investment securities | (1,343) | (1,362) |
Available-for-sale Securities, Debt investment securities | 12,191 | 11,708 |
Total available-for-sale | 13,339 | 15,109 |
Held to maturity, gross unrealized gains | 0 | 0 |
Held to maturity, gross unrealized losses | (1,691) | (1,251) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 11,648 | 13,858 |
Collateralized Mortgage Obligations - Private Label [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Totals, amortized cost | 82,692 | 65,781 |
Gross Unrealized Gains, Debt investment securities | 105 | 8 |
Gross Unrealized Losses, Debt investment securities | (4,768) | (4,355) |
Available-for-sale Securities, Debt investment securities | 78,029 | 61,434 |
Total available-for-sale | 82,957 | 88,497 |
Held to maturity, gross unrealized gains | 31 | 4 |
Held to maturity, gross unrealized losses | (4,651) | (4,430) |
Held-to-maturity Securities, Debt Maturities, Fair Value | 78,337 | 84,071 |
Mutual funds Common Stock Financial Services Industry [Member] | ||
Schedule of Available-for-sale Securities and Held-to-Maturity Securities [Line Items] | ||
Amortized cost, equity securities | 206 | 206 |
Gross Unrealized Gains, Equity investment securities | 0 | 0 |
Gross Unrealized Losses, Equity investment securities | 0 | 0 |
Available-for-sale Securities, Equity investment securities | $ 206 | $ 206 |
Investment Securities - Amort_2
Investment Securities - Amortized Cost and Estimated Fair Value of Debt Investments by Contractual Maturity (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Due in one year or less | $ 8,603 | |
Due after one year through five years | 11,254 | |
Due after five years through ten years | 36,174 | |
Due after ten years | 48,430 | |
Sub-total | 104,461 | |
Amortized cost | 222,513 | $ 205,230 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Due in one year or less | 8,953 | |
Due after one year through five years | 10,604 | |
Due after five years through ten years | 32,090 | |
Due after ten years | 44,423 | |
Sub-total | 96,070 | |
Available-for-sale securities, debt maturities, fair value, totals | 206,642 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Due in one year or less | 1,136 | |
Due after one year through five years | 19,536 | |
Due after five years through ten years | 43,469 | |
Due after ten years | 18,372 | |
Sub-total | 82,513 | |
Total available-for-sale | 185,589 | 194,402 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Due in one year or less | 1,129 | |
Due after one year through five years | 18,879 | |
Due after five years through ten years | 38,405 | |
Due after ten years | 15,864 | |
Sub-total | 74,277 | |
Held-to-maturity securities at fair value | 170,575 | 181,491 |
Residential Mortgage-Backed - US Agency [Member] | ||
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Amortized cost | 21,826 | 17,982 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Available-for-sale securities, debt maturities, fair value, totals | 20,352 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Total available-for-sale | 7,206 | 7,489 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Held-to-maturity securities at fair value | 6,313 | 6,750 |
Collateralized Mortgage Obligations - US Agency [Member] | ||
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Amortized cost | 13,534 | 13,070 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Available-for-sale securities, debt maturities, fair value, totals | 12,191 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Total available-for-sale | 13,339 | 15,109 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Held-to-maturity securities at fair value | 11,648 | 13,858 |
Collateralized Mortgage Obligations - Private Label [Member] | ||
Available-for-sale securities, debt maturities, amortized cost [Abstract] | ||
Amortized cost | 82,692 | 65,781 |
Available-for-sale securities, debt maturities, Estimated Fair Value [Abstract] | ||
Available-for-sale securities, debt maturities, fair value, totals | 78,029 | |
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Total available-for-sale | 82,957 | 88,497 |
Held-to-maturity Securities, debt maturities, Estimated Fair Value [Abstract] | ||
Held-to-maturity securities at fair value | 78,337 | $ 84,071 |
Held-to-Maturity Securities [Member] | ||
Held-to-maturity Securities, debt maturities, amortized cost [Abstract] | ||
Total available-for-sale | $ 186,015 |
Investment Securities - Investm
Investment Securities - Investment Securities' Gross Unrealized Losses and Fair Value by Investment Category and Length of Time that Individual Securities Have Continuous Unrealized Loss Position (Details) $ in Thousands | Sep. 30, 2023 USD ($) Security | Dec. 31, 2022 USD ($) Security |
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 22 | 53 |
Number of securities in unrealized loss positions, twelve months or more | Security | 123 | 57 |
Number of securities in unrealized loss positions | Security | 145 | 110 |
Less than twelve months Fair Value | $ 19,368 | $ 50,979 |
Twelve months or more Fair Value | 134,117 | 112,600 |
Total Fair Value | 153,485 | 163,579 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (614) | (3,300) |
Twelve months or more Unrealized Losses | (14,879) | (11,515) |
Total Unrealized Losses | $ (15,493) | $ (14,815) |
US Treasury, Agencies and GSEs [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 3 | 0 |
Number of securities in unrealized loss positions, twelve months or more | Security | 3 | 3 |
Number of securities in unrealized loss positions | Security | 6 | 3 |
Less than twelve months Fair Value | $ 5,963 | $ 0 |
Twelve months or more Fair Value | 24,819 | 26,167 |
Total Fair Value | 30,782 | 26,167 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (42) | 0 |
Twelve months or more Unrealized Losses | (4,141) | (3,206) |
Total Unrealized Losses | $ (4,183) | $ (3,206) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 0 | 2 |
Less than twelve months Fair Value | $ 0 | $ 3,573 |
Number of securities in unrealized loss positions, twelve months or more | Security | 2 | 0 |
Twelve months or more Fair Value | $ 3,355 | $ 0 |
Number of securities in unrealized loss positions | Security | 2 | 2 |
Total Fair Value | $ 3,355 | $ 3,573 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | 0 | (280) |
Twelve months or more Unrealized Losses | (415) | 0 |
Total Unrealized Losses | $ (415) | $ (280) |
State and Political Subdivisions [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 1 | 10 |
Number of securities in unrealized loss positions, twelve months or more | Security | 24 | 17 |
Number of securities in unrealized loss positions | Security | 25 | 27 |
Less than twelve months Fair Value | $ 1,387 | $ 12,601 |
Twelve months or more Fair Value | 27,756 | 20,128 |
Total Fair Value | 29,143 | 32,729 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (25) | (830) |
Twelve months or more Unrealized Losses | (3,989) | (2,171) |
Total Unrealized Losses | $ (4,014) | $ (3,001) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 5 | 7 |
Less than twelve months Fair Value | $ 1,052 | $ 7,277 |
Number of securities in unrealized loss positions, twelve months or more | Security | 14 | 7 |
Twelve months or more Fair Value | $ 12,083 | $ 5,077 |
Number of securities in unrealized loss positions | Security | 19 | 14 |
Total Fair Value | $ 13,135 | $ 12,354 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (41) | (871) |
Twelve months or more Unrealized Losses | (2,521) | (1,469) |
Total Unrealized Losses | $ (2,562) | $ (2,340) |
Corporate [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 2 | 7 |
Number of securities in unrealized loss positions, twelve months or more | Security | 5 | 2 |
Number of securities in unrealized loss positions | Security | 7 | 9 |
Less than twelve months Fair Value | $ 1,500 | $ 5,720 |
Twelve months or more Fair Value | 4,221 | 1,319 |
Total Fair Value | 5,721 | 7,039 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (1) | (269) |
Twelve months or more Unrealized Losses | (500) | (381) |
Total Unrealized Losses | $ (501) | $ (650) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 2 | 31 |
Less than twelve months Fair Value | $ 858 | $ 29,213 |
Number of securities in unrealized loss positions, twelve months or more | Security | 38 | 9 |
Twelve months or more Fair Value | $ 32,397 | $ 6,803 |
Number of securities in unrealized loss positions | Security | 40 | 40 |
Total Fair Value | $ 33,255 | $ 36,016 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (142) | (1,786) |
Twelve months or more Unrealized Losses | (3,862) | (800) |
Total Unrealized Losses | $ (4,004) | $ (2,586) |
Asset Backed Securities [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 1 | 5 |
Number of securities in unrealized loss positions, twelve months or more | Security | 10 | 5 |
Number of securities in unrealized loss positions | Security | 11 | 10 |
Less than twelve months Fair Value | $ 954 | $ 5,473 |
Twelve months or more Fair Value | 14,404 | 9,926 |
Total Fair Value | 15,358 | 15,399 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (14) | (148) |
Twelve months or more Unrealized Losses | (363) | (511) |
Total Unrealized Losses | $ (377) | $ (659) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 2 | 6 |
Less than twelve months Fair Value | $ 2,938 | $ 9,742 |
Number of securities in unrealized loss positions, twelve months or more | Security | 8 | 3 |
Twelve months or more Fair Value | $ 11,163 | $ 3,674 |
Number of securities in unrealized loss positions | Security | 10 | 9 |
Total Fair Value | $ 14,101 | $ 13,416 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (11) | (625) |
Twelve months or more Unrealized Losses | (1,266) | (666) |
Total Unrealized Losses | $ (1,277) | $ (1,291) |
Residential Mortgage-Backed - US Agency [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 1 | 10 |
Number of securities in unrealized loss positions, twelve months or more | Security | 15 | 5 |
Number of securities in unrealized loss positions | Security | 16 | 15 |
Less than twelve months Fair Value | $ 5,372 | $ 2,747 |
Twelve months or more Fair Value | 14,981 | 13,653 |
Total Fair Value | 20,353 | 16,400 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (1) | (131) |
Twelve months or more Unrealized Losses | (1,473) | (1,451) |
Total Unrealized Losses | $ (1,474) | $ (1,582) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 3 | 10 |
Less than twelve months Fair Value | $ 1,452 | $ 6,577 |
Number of securities in unrealized loss positions, twelve months or more | Security | 9 | 1 |
Twelve months or more Fair Value | $ 4,861 | $ 107 |
Number of securities in unrealized loss positions | Security | 12 | 11 |
Total Fair Value | $ 6,313 | $ 6,684 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (3) | (736) |
Twelve months or more Unrealized Losses | (890) | (3) |
Total Unrealized Losses | $ (893) | $ (739) |
Collateralized Mortgage Obligations - US Agency [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 2 | 6 |
Number of securities in unrealized loss positions, twelve months or more | Security | 11 | 6 |
Number of securities in unrealized loss positions | Security | 13 | 12 |
Less than twelve months Fair Value | $ 3,920 | $ 4,009 |
Twelve months or more Fair Value | 8,271 | 7,700 |
Total Fair Value | 12,191 | 11,709 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (59) | (238) |
Twelve months or more Unrealized Losses | (1,284) | (1,124) |
Total Unrealized Losses | $ (1,343) | $ (1,362) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 0 | 10,000 |
Less than twelve months Fair Value | $ 0 | $ 12,965 |
Number of securities in unrealized loss positions, twelve months or more | Security | 10 | 1 |
Twelve months or more Fair Value | $ 11,648 | $ 892 |
Number of securities in unrealized loss positions | Security | 10 | 11 |
Total Fair Value | $ 11,648 | $ 13,857 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | 0 | (1,236) |
Twelve months or more Unrealized Losses | (1,691) | (15) |
Total Unrealized Losses | $ (1,691) | $ (1,251) |
Collateralized Mortgage Obligations - Private Label [Member] | ||
Debt Securities, Available-for-Sale, Continuous Unrealized Loss Position, Number of Positions [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 12 | 15 |
Number of securities in unrealized loss positions, twelve months or more | Security | 32 | 19 |
Number of securities in unrealized loss positions | Security | 44 | 34 |
Less than twelve months Fair Value | $ 23,505 | $ 20,429 |
Twelve months or more Fair Value | 46,483 | 33,707 |
Total Fair Value | 69,988 | 54,136 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (293) | (1,684) |
Twelve months or more Unrealized Losses | (4,475) | (2,671) |
Total Unrealized Losses | $ (4,768) | $ (4,355) |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 10 | 38 |
Less than twelve months Fair Value | $ 13,068 | $ 58,061 |
Number of securities in unrealized loss positions, twelve months or more | Security | 42 | 8 |
Twelve months or more Fair Value | $ 58,610 | $ 12,532 |
Number of securities in unrealized loss positions | Security | 52 | 46 |
Total Fair Value | $ 71,678 | $ 70,593 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (417) | (2,719) |
Twelve months or more Unrealized Losses | (4,234) | (1,711) |
Total Unrealized Losses | $ (4,651) | $ (4,430) |
Debt Securities [Member] | ||
Held-to-maturity Securities, Continuous Unrealized Loss Position, Fair Value [Abstract] | ||
Number of securities in unrealized loss positions, less than twelve months | Security | 22 | 104 |
Less than twelve months Fair Value | $ 42,601 | $ 127,408 |
Number of securities in unrealized loss positions, twelve months or more | Security | 100 | 29 |
Twelve months or more Fair Value | $ 140,935 | $ 29,085 |
Number of securities in unrealized loss positions | Security | 122 | 133 |
Total Fair Value | $ 183,536 | $ 156,493 |
Held-to-maturity Securities, Continuous Unrealized Loss Position, Accumulated Loss [Abstract] | ||
Less than twelve months Unrealized Losses | (435) | (8,253) |
Twelve months or more Unrealized Losses | (16,225) | (4,664) |
Total Unrealized Losses | $ (16,660) | $ (12,917) |
Investment Securities - Additio
Investment Securities - Additional Information (Details) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 USD ($) | Sep. 30, 2023 USD ($) Security | Dec. 31, 2022 USD ($) Security | Jan. 01, 2023 USD ($) | |
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||||
Number of securities in unrealized loss positions, twelve months or more | Security | 123 | 57 | ||
Available for sale securities unrealized aggregate loss | $ 14,879 | $ 11,515 | ||
Available-for-sale investment securities aggregate, amortized historical cost | 222,700 | |||
Available-for-sale investment securities aggregate fair value that exceeded and amortized historical cost | $ 16,700 | $ 14,800 | ||
Available-for-sale investment securities aggregate fair value and amortized historical cost percentage | (0.50%) | (7.20%) | ||
Available-for-sale investment securities decline in fair value and amortized historical cost | $ 1,900 | |||
Held-to-maturity Securities [Abstract] | ||||
Available For Sale Securities Continuous Unrealized Loss Position Greater Than Twelve Months Amortized Historical Cost Basis | $ 205,400 | |||
Gain (Loss) on Sale of Investments [Abstract] | ||||
Securities pledged to collateralize deposit | 90,300 | 99,800 | ||
Securities pledged to collateralize borrowing | 64,000 | $ 38,100 | ||
Investment securities, aggregate book value | $ 450,000 | |||
Aggregate fair value | 2,600 | |||
Reduction in allowance for credit losses | 5,000 | |||
Reduction of provision for credit losses in investment securities | $ 426,000 | |||
State and Political Subdivisions [Member] | ||||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||||
Number of securities in unrealized loss positions, twelve months or more | Security | 24 | 17 | ||
Available for sale securities unrealized aggregate loss | $ 3,989 | $ 2,171 | ||
Held-to-maturity Securities [Abstract] | ||||
Held-to-maturity securities aggregate unrealized loss | $ 2,521 | $ 1,469 | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 14 | 7 | ||
Held-to-maturity securities aggregate unrealized loss | $ 2,521 | $ 1,469 | ||
Twelve months or more Fair Value | 12,083 | 5,077 | ||
Debt Securities [Member] | ||||
Held-to-maturity Securities [Abstract] | ||||
Held-to-maturity securities aggregate unrealized loss | $ 16,225 | $ 4,664 | ||
Number of securities in unrealized loss positions, twelve months or more | Security | 100 | 29 | ||
Held-to-maturity securities aggregate unrealized loss | $ 16,225 | $ 4,664 | ||
Twelve months or more Fair Value | 140,935 | $ 29,085 | ||
Held-to-Maturity Securities [Member] | ||||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||||
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | 185,600 | |||
Available-for-sale investment securities aggregate fair value that exceeded and amortized historical cost | $ 15,500 | |||
Available-for-sale investment securities aggregate fair value and amortized historical cost percentage | (8.30%) | |||
Held-to-Maturity Securities [Member] | Forecast [Member] | ||||
Available-for-sale Securities, Amortized Cost Basis [Abstract] | ||||
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | $ 194,400 | |||
Available-for-sale investment securities aggregate fair value that exceeded and amortized historical cost | $ 12,900 | |||
Available-for-sale investment securities aggregate fair value and amortized historical cost percentage | 6.60% |
Investments - Schedule of allow
Investments - Schedule of allowance for credit losses on investment securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Current Expected Credit Loss Allowance for Credit Losses | $ 13,078 | $ 12,935 | ||
Charge-offs | (176) | (546) | ||
Recoveries | 20 | 372 | ||
CECL Reserve | $ 13,632 | $ 13,632 | ||
Allowance for credit losses | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Current Expected Credit Loss Allowance for Credit Losses | $ 421 | $ 0 | ||
Adjustment for the adoption of ASU 2016-13 | 450 | |||
Provision for credit losses | 5 | (24) | ||
Allowance on purchased financial assets with credit deterioration | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
CECL Reserve | 426 | 426 | ||
Allowance for credit losses | Government Sector [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Current Expected Credit Loss Allowance for Credit Losses | 0 | 0 | ||
Adjustment for the adoption of ASU 2016-13 | 0 | |||
Provision for credit losses | 0 | 0 | ||
Allowance on purchased financial assets with credit deterioration | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
CECL Reserve | 0 | 0 | ||
Allowance for credit losses | Financial Services Sector [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Current Expected Credit Loss Allowance for Credit Losses | 22 | 0 | ||
Adjustment for the adoption of ASU 2016-13 | 40 | |||
Provision for credit losses | 0 | (18) | ||
Allowance on purchased financial assets with credit deterioration | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
CECL Reserve | 22 | 22 | ||
Allowance for credit losses | Securities issued by state and political subdivision | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Current Expected Credit Loss Allowance for Credit Losses | 2 | 0 | ||
Adjustment for the adoption of ASU 2016-13 | 1 | |||
Provision for credit losses | 0 | 1 | ||
Allowance on purchased financial assets with credit deterioration | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
CECL Reserve | 2 | 2 | ||
Allowance for credit losses | Corporate Securities [Member] | ||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||
Current Expected Credit Loss Allowance for Credit Losses | 397 | 0 | ||
Adjustment for the adoption of ASU 2016-13 | 409 | |||
Provision for credit losses | 5 | (7) | ||
Allowance on purchased financial assets with credit deterioration | 0 | 0 | ||
Charge-offs | 0 | 0 | ||
Recoveries | 0 | 0 | ||
CECL Reserve | $ 402 | $ 402 |
Investments - Schedule of amort
Investments - Schedule of amortized cost of debt securities categorized as held-to-maturity aggregated by credit quality (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | $ 186,015 |
AAA or equivalent | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 43,298 |
AA or equivalent, includes securities issued by the United States Government or Government Sponsored Enterprises | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 48,032 |
A or equivalent | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 22,312 |
BBB or equivalent | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 15,546 |
BB or equivalent | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | 983 |
Unrated | |
Financing Receivable, Credit Quality Indicator [Line Items] | |
Total | $ 55,844 |
Investment Securities - Gross R
Investment Securities - Gross Realized Gains (Losses) on Sale and Redemptions of Securities (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Gain (Loss) on Sale of Investments [Abstract] | ||||
Realized gains on investments | $ 0 | $ 0 | $ 2,021 | $ 37 |
Realized losses on investments | (13) | (198) | (1,961) | (205) |
Total | $ (13) | $ (198) | $ 60 | $ (168) |
Pension and Postretirement Be_3
Pension and Postretirement Benefits - Additional Information (Details) | 9 Months Ended |
Sep. 30, 2023 | |
Retirement Benefits [Abstract] | |
Minimum years of service to participate in the health and life insurance benefits as of January 1, 1995 | 14 years |
Pension and Postretirement Be_4
Pension and Postretirement Benefits - Composition of Net Periodic Pension Plan and Postretirement Plan Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Pension Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | $ 0 | $ 0 | $ 0 | $ 0 |
Interest cost | 140 | 116 | 421 | 348 |
Expected return on plan assets | (241) | (267) | (724) | (801) |
Amortization of prior service credits | 0 | 0 | ||
Amortization of net losses | 57 | 0 | 172 | 0 |
Net periodic benefit plan (benefit) cost | (44) | (151) | (131) | (453) |
Postretirement Benefits [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 0 | 0 | 0 | 0 |
Interest cost | 3 | 3 | 6 | 9 |
Expected return on plan assets | 0 | 0 | ||
Amortization of prior service credits | (1) | (1) | (3) | (4) |
Amortization of net losses | (1) | 2 | (3) | 5 |
Net periodic benefit plan (benefit) cost | $ (1) | $ 4 | $ 0 | $ 10 |
Loans - Major Classification of
Loans - Major Classification of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 |
Loans receivables: | |||
Total loans | $ 896,476 | $ 898,754 | |
Net deferred loan fees | (353) | (1,000) | |
Less: Allowance for credit losses | 15,767 | 15,319 | |
Loans receivable, net | 880,356 | 882,435 | $ 887,190 |
Residential Mortgage Loans [Member] | |||
Loans receivables: | |||
Total loans | 255,046 | 262,760 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||
Loans receivables: | |||
Total loans | 252,956 | 257,656 | |
Loans receivable, net | 252,956 | 245,428 | |
Residential Mortgage Loans [Member] | Construction [Member] | |||
Loans receivables: | |||
Total loans | 2,090 | 5,085 | |
Residential Mortgage Loans [Member] | Loans Held For Sale [Member] | |||
Loans receivables: | |||
Total loans | 0 | 19 | |
Commercial Loans [Member] | |||
Loans receivables: | |||
Total loans | 525,445 | 509,136 | |
Commercial Loans [Member] | Real Estate [Member] | |||
Loans receivables: | |||
Total loans | 362,822 | 345,330 | |
Loans receivable, net | 362,822 | 337,392 | |
Commercial Loans [Member] | Lines of Credit [Member] | |||
Loans receivables: | |||
Total loans | 73,497 | 82,050 | |
Loans receivable, net | 73,497 | 80,717 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | |||
Loans receivables: | |||
Total loans | 85,506 | 77,273 | |
Loans receivable, net | 85,506 | 74,641 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | |||
Loans receivables: | |||
Total loans | 3,451 | 4,280 | |
Loans receivable, net | 3,451 | 4,344 | |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | |||
Loans receivables: | |||
Total loans | 169 | 203 | |
Consumer Loans [Member] | |||
Loans receivables: | |||
Total loans | 115,985 | 126,858 | |
Net deferred loan fees | (353) | ||
Loans receivable, net | 896,476 | ||
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | |||
Loans receivables: | |||
Total loans | 34,666 | 34,007 | |
Loans receivable, net | 34,666 | 33,746 | |
Consumer Loans [Member] | Other Consumer [Member] | |||
Loans receivables: | |||
Total loans | 81,319 | $ 92,851 | |
Loans receivable, net | $ 81,319 | $ 95,331 |
Loans - Summary of Purchased Lo
Loans - Summary of Purchased Loans Pools (Details) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 USD ($) Segment | Dec. 31, 2022 USD ($) Segment | |
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 179,800 | $ 230,200 |
Current Balance | 93,500 | 115,200 |
Unamortized Premium/ (Discount) | $ (6,581) | $ (7,004) |
Number of Loans | Segment | 3,126 | 4,063 |
Cumulative net charge-offs | $ 69 | $ 310 |
Automobile Loans [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | 50,400 | |
Current Balance | 4,200 | |
Unamortized Premium/ (Discount) | $ 128 | |
Number of Loans | Segment | 537 | |
Cumulative net charge-offs | $ 247 | |
Automobile Loans [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 0 years | |
Automobile Loans [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 4 years | |
Commercial and Industrial Loans [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | 6,800 | $ 6,800 |
Current Balance | $ 1,800 | $ 2,100 |
Number of Loans | Segment | 20 | 22 |
Commercial and Industrial Loans [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 2 years | 3 years |
Commercial and Industrial Loans [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 6 years | 7 years |
Home Equity Line of Credit [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 21,900 | $ 21,900 |
Current Balance | 4,900 | 6,000 |
Unamortized Premium/ (Discount) | $ 137 | $ 189 |
Number of Loans | Segment | 128 | 143 |
Home Equity Line of Credit [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 1 year | 1 year |
Home Equity Line of Credit [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 26 years | 27 years |
Unsecured Consumer Loan Pool 2 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 26,600 | $ 26,600 |
Current Balance | 700 | 1,500 |
Unamortized Premium/ (Discount) | $ 3 | $ 11 |
Number of Loans | Segment | 181 | 320 |
Unsecured Consumer Loan Pool 2 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 0 years | 0 years |
Unsecured Consumer Loan Pool 2 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 3 years | 2 years |
Residential Real Estate Loans [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 4,300 | $ 4,300 |
Current Balance | 3,700 | 3,900 |
Unamortized Premium/ (Discount) | $ 231 | $ 240 |
Number of Loans | Segment | 48 | 49 |
Residential Real Estate Loans [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 17 years | 16 years |
Residential Real Estate Loans [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 22 years | 22 years |
Unsecured Consumer Loan Pool 1 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 5,400 | $ 5,400 |
Current Balance | $ 1,200 | $ 1,600 |
Number of Loans | Segment | 46 | 50 |
Unsecured Consumer Loan Pool 1 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 1 year | 1 year |
Unsecured Consumer Loan Pool 1 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 4 years | 4 years |
Unsecured Consumer Installment Loans Pool 3 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 10,300 | $ 10,300 |
Current Balance | 500 | 1,000 |
Unamortized Premium/ (Discount) | $ 22 | $ 38 |
Number of Loans | Segment | 186 | 354 |
Cumulative net charge-offs | $ 69 | $ 63 |
Unsecured Consumer Installment Loans Pool 3 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 0 years | 0 years |
Unsecured Consumer Installment Loans Pool 3 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 9 years | 9 years |
Secured Consumer Installment Loans Pool 4 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 14,500 | $ 14,500 |
Current Balance | 10,700 | 11,300 |
Unamortized Premium/ (Discount) | $ (1,302) | $ (1,484) |
Number of Loans | Segment | 502 | 518 |
Secured Consumer Installment Loans Pool 4 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 22 years | 23 years |
Secured Consumer Installment Loans Pool 4 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 23 years | 24 years |
Unsecured Consumer Loan Pool 5 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 24,400 | $ 24,400 |
Current Balance | 16,100 | 17,300 |
Unamortized Premium/ (Discount) | $ (437) | $ (485) |
Number of Loans | Segment | 661 | 678 |
Unsecured Consumer Loan Pool 5 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 7 years | 8 years |
Unsecured Consumer Loan Pool 5 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 22 years | 24 years |
Revolving Commercial Line of Credit 1 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 11,600 | $ 11,600 |
Current Balance | 12,300 | 11,400 |
Unamortized Premium/ (Discount) | $ 5 | $ 14 |
Number of Loans | Segment | 1 | 1 |
Revolving Commercial Line of Credit 1 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 0 years | 0 years |
Revolving Commercial Line of Credit 1 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 1 year | 1 year |
Secured Consumer Installment Loans [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 21,300 | $ 21,300 |
Current Balance | 18,500 | 19,700 |
Unamortized Premium/ (Discount) | $ (3,009) | $ (3,237) |
Number of Loans | Segment | 826 | 850 |
Secured Consumer Installment Loans [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 17 years | 18 years |
Secured Consumer Installment Loans [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 24 years | 25 years |
Revolving Commercial Line of Credit 2 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 10,500 | $ 10,500 |
Current Balance | 4,300 | 15,000 |
Unamortized Premium/ (Discount) | $ 4 | $ 23 |
Number of Loans | Segment | 1 | 1 |
Revolving Commercial Line of Credit 2 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 0 years | 0 years |
Revolving Commercial Line of Credit 2 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 1 year | 1 year |
Unsecured Consumer Loan Pool 6 [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Original Balance | $ 22,200 | $ 22,200 |
Current Balance | 18,800 | 20,200 |
Unamortized Premium/ (Discount) | $ (2,235) | $ (2,441) |
Number of Loans | Segment | 526 | 540 |
Unsecured Consumer Loan Pool 6 [Member] | Minimum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 7 years | 8 years |
Unsecured Consumer Loan Pool 6 [Member] | Maximum [Member] | ||
Accounts Notes And Loans Receivable [Line Items] | ||
Maturity Range | 24 years | 24 years |
Loans - Additional Information
Loans - Additional Information (Details) $ in Thousands | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2023 USD ($) Loan Segment | Dec. 31, 2022 USD ($) Loan | Sep. 30, 2022 USD ($) | |
Accounts Notes And Loans Receivable [Line Items] | |||
Loans receivables Ending balance | $ 880,356 | $ 882,435 | $ 887,190 |
ACL related to pools | $ 2,100 | ||
Number of portfolio segment | Segment | 3 | ||
Residential Mortgage Loans [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Number of non-performing loans | Loan | 133 | 126 | |
Non-performing loans outstanding | $ 16,200 | $ 9,000 | |
Percentage of non-performing loans | 1.80% | ||
Number of loan | Loan | 19 | 5 | |
Non-accrual commercial loan | $ 11,500 | $ 1,700 | |
Additional non-accrual commercial loan | 7,100 | ||
Asset Pledged as Collateral [Member] | Residential Mortgage Loans [Member] | |||
Accounts Notes And Loans Receivable [Line Items] | |||
Loans receivables Ending balance | $ 114,400 | $ 110,300 |
Loans - Summary of Classes of L
Loans - Summary of Classes of Loan Portfolio (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 896,476 | $ 898,754 |
Net deferred loan fees | (353) | (1,000) |
Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 896,123 | |
Residential Mortgage Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 255,046 | 262,760 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 252,956 | 257,656 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,873 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 32,585 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 53,830 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 41,125 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 19,185 | |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 99,358 | |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,090 | 5,085 |
Residential Mortgage Loans [Member] | Construction [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,090 | |
Residential Mortgage Loans [Member] | Construction [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Construction [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | 19 |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 248,544 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,873 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 32,585 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 52,220 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 40,478 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 18,902 | |
Residential Mortgage Loans [Member] | Pass [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 97,486 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,090 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,090 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Pass [Member] | Construction [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,892 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,471 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 46 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 61 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 314 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Special Mention [Member] | Construction [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,893 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 139 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 447 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 222 | |
Residential Mortgage Loans [Member] | Substandard [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,085 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Substandard [Member] | Construction [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 627 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 154 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 473 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Residential Mortgage Loans [Member] | Doubtful [Member] | Construction [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 525,445 | 509,136 |
Commercial Loans [Member] | Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 362,822 | 345,330 |
Commercial Loans [Member] | Real Estate [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Real Estate [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Real Estate [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 40,297 | |
Commercial Loans [Member] | Real Estate [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 83,491 | |
Commercial Loans [Member] | Real Estate [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 62,442 | |
Commercial Loans [Member] | Real Estate [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 30,348 | |
Commercial Loans [Member] | Real Estate [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 52,139 | |
Commercial Loans [Member] | Real Estate [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 94,105 | |
Commercial Loans [Member] | Lines of Credit [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 73,497 | 82,050 |
Commercial Loans [Member] | Lines of Credit [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,806 | |
Commercial Loans [Member] | Lines of Credit [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 64,691 | |
Commercial Loans [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Lines of Credit [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 85,506 | 77,273 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,020 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 22,794 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 19,992 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,104 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,776 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,650 | |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 15,170 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,451 | 4,280 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 196 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6 | |
Commercial Loans [Member] | Tax Exempt Loans [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,217 | |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 169 | 203 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 169 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 337,613 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 39,528 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 68,969 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 60,100 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 29,609 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 51,743 | |
Commercial Loans [Member] | Pass [Member] | Real Estate [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 87,664 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 70,539 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7,238 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 63,301 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Lines of Credit [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 75,805 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,020 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 18,879 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 18,819 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,914 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,943 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,437 | |
Commercial Loans [Member] | Pass [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 12,793 | |
Commercial Loans [Member] | Pass [Member] | Tax Exempt Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,451 | |
Commercial Loans [Member] | Pass [Member] | Tax Exempt Loans [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 196 | |
Commercial Loans [Member] | Pass [Member] | Tax Exempt Loans [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6 | |
Commercial Loans [Member] | Pass [Member] | Tax Exempt Loans [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,217 | |
Commercial Loans [Member] | Pass [Member] | Paycheck Protection Program Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 169 | |
Commercial Loans [Member] | Pass [Member] | Paycheck Protection Program Loans [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 169 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 14,845 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 14,022 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Real Estate [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 823 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 814 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 167 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 647 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Lines of Credit [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,841 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,480 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 249 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 76 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Special Mention [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 10,204 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 769 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 500 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,342 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 739 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 396 | |
Commercial Loans [Member] | Substandard [Member] | Real Estate [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5,458 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,127 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,384 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 743 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Lines of Credit [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6,860 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,435 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,171 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 941 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 757 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 213 | |
Commercial Loans [Member] | Substandard [Member] | Other Commercial and Industrial [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,343 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 160 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Real Estate [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 160 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Lines of Credit [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Other Commercial and Industrial [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Commercial Loans [Member] | Doubtful [Member] | Other Commercial and Industrial [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 115,985 | 126,858 |
Net deferred loan fees | (353) | |
Consumer Loans [Member] | Revolving Loans Converted To Term Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9,500 | |
Consumer Loans [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 87,054 | |
Consumer Loans [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net deferred loan fees | (237) | |
Consumer Loans [Member] | Term Loans By Origination Year 2023 [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 149,149 | |
Consumer Loans [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net deferred loan fees | 32 | |
Consumer Loans [Member] | Term Loans By Origination Year 2022 [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 142,532 | |
Consumer Loans [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net deferred loan fees | 98 | |
Consumer Loans [Member] | Term Loans By Origination Year 2021 [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 129,327 | |
Consumer Loans [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net deferred loan fees | 63 | |
Consumer Loans [Member] | Term Loans By Origination Year 2020 [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 80,956 | |
Consumer Loans [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net deferred loan fees | (58) | |
Consumer Loans [Member] | Term Loans By Origination Year 2019 [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 82,274 | |
Consumer Loans [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Net deferred loan fees | (251) | |
Consumer Loans [Member] | Term Loans By Origination Prior Year [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 215,331 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 34,666 | 34,007 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 18,343 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 694 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,256 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,122 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,569 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 802 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 610 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,270 | |
Consumer Loans [Member] | Other Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 81,319 | $ 92,851 |
Consumer Loans [Member] | Other Consumer [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Other Consumer [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 69,076 | |
Consumer Loans [Member] | Other Consumer [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,310 | |
Consumer Loans [Member] | Other Consumer [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,252 | |
Consumer Loans [Member] | Other Consumer [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,477 | |
Consumer Loans [Member] | Other Consumer [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,742 | |
Consumer Loans [Member] | Other Consumer [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,462 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 33,911 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 17,693 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 685 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8,256 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,122 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,502 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 802 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 610 | |
Consumer Loans [Member] | Pass [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 2,241 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 81,237 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 69,076 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4,291 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3,226 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,455 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,735 | |
Consumer Loans [Member] | Pass [Member] | Other Consumer [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1,454 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 29 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 20 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Loans converted to term loans | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 9 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 42 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 14 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 18 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 6 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 3 | |
Consumer Loans [Member] | Special Mention [Member] | Other Consumer [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 1 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 40 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 5 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 8 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 16 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 4 | |
Consumer Loans [Member] | Substandard [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 7 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 726 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 630 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 67 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Substandard [Member] | Other Consumer [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 29 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2023 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2022 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2021 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2020 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Year 2019 [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Home Equity and Junior Liens [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Other Consumer [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Other Consumer [Member] | Loans [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | 0 | |
Consumer Loans [Member] | Doubtful [Member] | Other Consumer [Member] | Term Loans By Origination Prior Year [Member] | ||
Financing Receivable Recorded Investment [Line Items] | ||
Total loans | $ 0 |
Loans - Age Analysis of Past Du
Loans - Age Analysis of Past Due Loans Segregated by Portfolio Segment and Class of Loans (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | $ 896,476 | $ 898,754 |
Consumer Loan [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 896,476 | 898,754 |
Consumer Loan [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 8,438 | 13,016 |
Consumer Loan [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 4,245 | 4,313 |
Consumer Loan [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 15,979 | 8,650 |
Consumer Loan [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 28,662 | 25,979 |
Consumer Loan [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 867,814 | 872,775 |
Residential Mortgage Loans [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 255,046 | 262,760 |
Residential Mortgage Loans [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,262 | 1,627 |
Residential Mortgage Loans [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,846 | 620 |
Residential Mortgage Loans [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,610 | 932 |
Residential Mortgage Loans [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 4,718 | 3,179 |
Residential Mortgage Loans [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 250,328 | 259,581 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 252,956 | 257,656 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,262 | 1,627 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,846 | 620 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,610 | 932 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 4,718 | 3,179 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 248,238 | 254,477 |
Residential Mortgage Loans [Member] | Construction [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 2,090 | 5,085 |
Residential Mortgage Loans [Member] | Construction [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Construction [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Construction [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Construction [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Construction [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 2,090 | 5,085 |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 0 | 19 |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Residential Mortgage Loans [Member] | Loans Held-For-Sale [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 19 |
Commercial Loans [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 525,445 | 509,136 |
Commercial Loans [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 6,420 | 10,975 |
Commercial Loans [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 2,008 | 3,437 |
Commercial Loans [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 11,503 | 5,535 |
Commercial Loans [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 19,931 | 19,947 |
Commercial Loans [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 505,514 | 489,189 |
Commercial Loans [Member] | Real Estate [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 362,822 | 345,330 |
Commercial Loans [Member] | Real Estate [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 4,090 | 4,974 |
Commercial Loans [Member] | Real Estate [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,457 | 854 |
Commercial Loans [Member] | Real Estate [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 6,280 | 3,499 |
Commercial Loans [Member] | Real Estate [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 11,827 | 9,327 |
Commercial Loans [Member] | Real Estate [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 350,995 | 336,003 |
Commercial Loans [Member] | Lines of Credit [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 73,497 | 82,050 |
Commercial Loans [Member] | Lines of Credit [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,759 | 1,280 |
Commercial Loans [Member] | Lines of Credit [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 10 | 1,584 |
Commercial Loans [Member] | Lines of Credit [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 1,513 | 298 |
Commercial Loans [Member] | Lines of Credit [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 3,282 | 3,162 |
Commercial Loans [Member] | Lines of Credit [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 70,215 | 78,888 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 85,506 | 77,273 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 571 | 4,721 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 541 | 999 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 3,710 | 1,738 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 4,822 | 7,458 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 80,684 | 69,815 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 169 | 203 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Paycheck Protection Program Loans [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 169 | 203 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 3,451 | 4,280 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 0 | 0 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 3,451 | 4,280 |
Consumer Loans [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 115,985 | 126,858 |
Consumer Loans [Member] | Consumer Loan [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 115,985 | 126,858 |
Consumer Loans [Member] | Consumer Loan [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 756 | 414 |
Consumer Loans [Member] | Consumer Loan [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 391 | 256 |
Consumer Loans [Member] | Consumer Loan [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 2,866 | 2,183 |
Consumer Loans [Member] | Consumer Loan [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 4,013 | 2,853 |
Consumer Loans [Member] | Consumer Loan [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 111,972 | 124,005 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 34,666 | 34,007 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Consumer Loan [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 34,666 | 34,007 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Consumer Loan [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 73 | 23 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Consumer Loan [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 69 | 17 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Consumer Loan [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 237 | 279 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Consumer Loan [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 379 | 319 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | Consumer Loan [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 34,287 | 33,688 |
Consumer Loans [Member] | Other Consumer [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 81,319 | 92,851 |
Consumer Loans [Member] | Other Consumer [Member] | Consumer Loan [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Total Loans Receivable | 81,319 | 92,851 |
Consumer Loans [Member] | Other Consumer [Member] | Consumer Loan [Member] | 30-59 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 683 | 391 |
Consumer Loans [Member] | Other Consumer [Member] | Consumer Loan [Member] | 60-89 Days Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 322 | 239 |
Consumer Loans [Member] | Other Consumer [Member] | Consumer Loan [Member] | 90 Days and Over [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 2,629 | 1,904 |
Consumer Loans [Member] | Other Consumer [Member] | Consumer Loan [Member] | Total Past Due [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | 3,634 | 2,534 |
Consumer Loans [Member] | Other Consumer [Member] | Consumer Loan [Member] | Current [Member] | ||
Recorded Investment, Past Due [Line Items] | ||
Reserve | $ 77,685 | $ 90,317 |
Loans - Nonaccrual Loans Segreg
Loans - Nonaccrual Loans Segregated by Class of Loan (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | $ 16,173 | $ 9,015 |
Residential Mortgage Loans [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 1,659 | 1,112 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 1,659 | 1,112 |
Commercial Loans [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 11,643 | 5,720 |
Commercial Loans [Member] | Real Estate [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 6,404 | 3,504 |
Commercial Loans [Member] | Lines of Credit [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 1,529 | 332 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 3,710 | 1,884 |
Consumer Loans [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 2,871 | 2,183 |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | 237 | 279 |
Consumer Loans [Member] | Other Consumer [Member] | ||
Nonaccrual loans, Segregated by class of loans [Abstract] | ||
Nonaccrual status loans | $ 2,634 | $ 1,904 |
Loans - Summary of Impaired Loa
Loans - Summary of Impaired Loan Information by Portfolio Class (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
With an allowance recorded [Abstract] | ||
Related Allowance | $ 3,527 | $ 4,793 |
Total [Abstract] | ||
Recorded Investment | 22,729 | 20,179 |
Unpaid Principal Balance | 22,743 | 20,338 |
Related Allowance | 3,527 | 4,793 |
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
With an allowance recorded [Abstract] | ||
Related Allowance | 126 | 91 |
Total [Abstract] | ||
Recorded Investment | 1,682 | 1,498 |
Unpaid Principal Balance | 1,682 | 1,498 |
Related Allowance | 126 | 91 |
Commercial Loans [Member] | ||
With an allowance recorded [Abstract] | ||
Related Allowance | 1,564 | |
Total [Abstract] | ||
Recorded Investment | 6,759 | |
Unpaid Principal Balance | 6,759 | |
Related Allowance | 1,564 | |
Commercial Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 757 | 1,048 |
Unpaid Principal Balance | 757 | 1,048 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 925 | 450 |
Unpaid Principal Balance | 925 | 450 |
Related Allowance | 126 | 91 |
Total [Abstract] | ||
Related Allowance | 126 | 91 |
Commercial Loans [Member] | Real Estate [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 6,580 | 5,283 |
Unpaid Principal Balance | 6,580 | 5,386 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 4,944 | 2,625 |
Unpaid Principal Balance | 4,944 | 2,625 |
Related Allowance | 598 | 346 |
Total [Abstract] | ||
Recorded Investment | 11,524 | 7,908 |
Unpaid Principal Balance | 11,524 | 8,011 |
Related Allowance | 598 | 346 |
Commercial Loans [Member] | Lines of Credit [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 500 | 2,218 |
Unpaid Principal Balance | 500 | 2,218 |
With an allowance recorded [Abstract] | ||
Recorded Investment | 1,552 | 3,059 |
Unpaid Principal Balance | 1,566 | 3,066 |
Related Allowance | 1,092 | 2,957 |
Total [Abstract] | ||
Recorded Investment | 2,052 | 5,277 |
Unpaid Principal Balance | 2,066 | 5,284 |
Related Allowance | 1,092 | 2,957 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 3,087 | |
Unpaid Principal Balance | 3,087 | |
With an allowance recorded [Abstract] | ||
Recorded Investment | 3,672 | |
Unpaid Principal Balance | 3,672 | |
Related Allowance | 1,564 | |
Total [Abstract] | ||
Related Allowance | 1,564 | |
Commercial Loans [Member] | Home Equity and Junior Liens [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 82 | |
Unpaid Principal Balance | 82 | |
With an allowance recorded [Abstract] | ||
Recorded Investment | 630 | |
Unpaid Principal Balance | 630 | |
Related Allowance | 147 | |
Total [Abstract] | ||
Recorded Investment | 712 | |
Unpaid Principal Balance | 712 | |
Related Allowance | $ 147 | |
Consumer Loans [Member] | Other Commercial and Industrial [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 2,780 | |
Unpaid Principal Balance | 2,829 | |
With an allowance recorded [Abstract] | ||
Recorded Investment | 1,998 | |
Unpaid Principal Balance | 1,998 | |
Related Allowance | 1,285 | |
Total [Abstract] | ||
Recorded Investment | 4,778 | |
Unpaid Principal Balance | 4,827 | |
Related Allowance | 1,285 | |
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||
With no related allowance recorded [Abstract] | ||
Recorded Investment | 182 | |
Unpaid Principal Balance | 182 | |
With an allowance recorded [Abstract] | ||
Recorded Investment | 536 | |
Unpaid Principal Balance | 536 | |
Related Allowance | 114 | |
Total [Abstract] | ||
Recorded Investment | 718 | |
Unpaid Principal Balance | 718 | |
Related Allowance | $ 114 |
Loans - Summary of Average Reco
Loans - Summary of Average Recorded Investment (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | $ 23,269 | $ 14,275 | $ 22,536 | $ 12,794 |
1-4 Family First Lien Residential Mortgages [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 1,678 | 1,133 | 1,586 | 1,165 |
Commercial Real Estate [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 10,559 | 7,124 | 9,875 | 7,130 |
Commercial Lines of Credit [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 2,644 | 2,089 | 3,265 | 1,120 |
Other Commercial and Industrial [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | 7,722 | 3,302 | 7,119 | 2,750 |
Home Equity and Junior Liens [Member] | ||||
Average recorded investment [Abstract] | ||||
Average recorded investment in impaired loans | $ 666 | $ 627 | $ 691 | $ 629 |
Loans - Schedule of Cash Basis
Loans - Schedule of Cash Basis Interest Income Recognized on Impaired Loans (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | $ 290 | $ 199 | $ 583 | $ 561 |
1-4 Family First Lien Residential Mortgages [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 17 | 12 | 58 | 41 |
Commercial Real Estate [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 95 | 78 | 231 | 227 |
Commercial Lines of Credit [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 75 | 45 | 107 | 90 |
Other Commercial and Industrial [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | 88 | 48 | 145 | 184 |
Home Equity and Junior Liens [Member] | ||||
Cash Basis Interest Recognized on Impaired Loans [Abstract] | ||||
Cash basis interest income recognized on impaired loans | $ 15 | $ 16 | $ 42 | $ 19 |
Allowance for Credit Losses - A
Allowance for Credit Losses - Additional Information (Details) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | Sep. 30, 2023 USD ($) Loan | Sep. 30, 2022 USD ($) | Dec. 31, 2022 USD ($) | Jan. 01, 2023 USD ($) | |
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Provision for credit losses | $ 833,000 | $ 710,000 | $ 2,700,000 | $ 871,000 | ||
Aggregate Outstanding Balances | $ 11,500,000 | |||||
Number of loans | Loan | 19 | |||||
Specifically-Identified Loans | $ 4,800,000 | |||||
Specifically-Identified Loans | 4,800,000 | |||||
ACL Related To Loans | 15,800,000 | $ 15,800,000 | ||||
Current Expected Credit Loss [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Allowance For Loan And Lease Losses | 15,300,000 | |||||
Specifically-Identified Loans | 4,800,000 | |||||
Aggregate Pool Basis Loans | 10,500,000 | |||||
Transition Charge | $ 1,900,000 | |||||
Specifically-Identified Loans | 4,800,000 | |||||
Transition Charge Reversed | $ 12,400,000 | 10,500,000 | ||||
CECL ACL | 12,400,000 | |||||
Historical loss | 8,400,000 | |||||
Qualitative factors | 4,000,000 | |||||
Transition Adjustment | 1,900,000 | 1,900,000 | $ 2,900,000 | |||
Held-to-Maturity Securities [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
PCL Charges | 30,000 | 30,000 | ||||
Held-to-Maturity Securities [Member] | Current Expected Credit Loss [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Created New Reserves | 450,000 | 450,000 | ||||
Unfunded Commitments [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Provision for credit losses | 871,000 | 2,700,000 | ||||
Specifically-Identified Loans | 7,100,000 | 7,100,000 | ||||
Specifically-Identified Loans | 7,100,000 | 7,100,000 | ||||
Reversed | 4,800,000 | 4,800,000 | ||||
Qualitative factors | 3,900,000 | 3,900,000 | ||||
Company's loan portfolio | 798,000 | 2,700,000 | ||||
PCL Charges | 5,000 | 5,000 | ||||
Unfunded Commitments [Member] | Current Expected Credit Loss [Member] | ||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||
Created New Reserves | $ 552,000 | $ 552,000 |
Allowance for Credit Losses - S
Allowance for Credit Losses - Schedule of Changes in the Allowance for Credit Losses (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | ||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
CECL transition adjustment | $ 2,885 | |||||||
Charge-offs | $ (176) | $ (546) | ||||||
Recoveries | $ 20 | $ 372 | ||||||
PCL | $ 833 | $ 1,140 | $ 692 | |||||
Total ACL related to loans [Member[ | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Incurred Loss Model | 15,319 | |||||||
CECL transition adjustment | 1,883 | |||||||
CECL ACL | 18,796 | 17,867 | 17,202 | $ 17,202 | ||||
Charge-offs | (3,874) | (372) | (119) | |||||
Recoveries | 45 | 116 | 92 | |||||
PCL | 798 | 1,185 | 692 | |||||
CECL ACL | 15,765 | 18,796 | 17,867 | 15,765 | ||||
ACL - related to held-to-maturity investments [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Incurred Loss Model | [1] | 0 | ||||||
CECL transition adjustment | [1] | 450 | ||||||
CECL ACL | [1] | 421 | 450 | 450 | 450 | |||
Charge-offs | [1] | 0 | 0 | 0 | ||||
Recoveries | [1] | 0 | 0 | 0 | ||||
PCL | [1] | 5 | (29) | 0 | ||||
CECL ACL | [1] | 426 | 421 | 450 | 426 | |||
ACL - related to unfunded commitments [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Incurred Loss Model | [2] | 0 | ||||||
CECL transition adjustment | [2] | 552 | ||||||
CECL ACL | [2] | 536 | 552 | 552 | 552 | |||
Charge-offs | [2] | 0 | 0 | 0 | ||||
Recoveries | [2] | 0 | 0 | 0 | ||||
PCL | [2] | 30 | (16) | 0 | ||||
CECL ACL | [2] | 566 | 536 | 552 | 566 | |||
Specifically identified loans [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Incurred Loss Model | 4,793 | |||||||
CECL transition adjustment | 0 | |||||||
CECL ACL | 6,368 | 5,627 | 4,793 | 4,793 | ||||
Charge-offs | 0 | (263) | 0 | |||||
Recoveries | 0 | 0 | 0 | |||||
PCL | 692 | 1,004 | 834 | |||||
CECL ACL | 7,060 | 6,368 | 5,627 | 7,060 | ||||
Pooled loans under ILM [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
Incurred Loss Model | 10,526 | |||||||
CECL transition adjustment | (10,526) | |||||||
CECL ACL | 0 | 0 | 0 | 0 | ||||
Charge-offs | 0 | 0 | 0 | |||||
Recoveries | 0 | 0 | 0 | |||||
PCL | 0 | 0 | 0 | |||||
CECL ACL | 0 | 0 | 0 | 0 | ||||
Pooled loans under CECL - Quantitative [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
CECL transition adjustment | 8,444 | |||||||
CECL ACL | 8,592 | 8,691 | 8,444 | 8,444 | ||||
Charge-offs | (3,874) | (109) | (100) | |||||
Recoveries | 45 | 116 | 92 | |||||
PCL | 17 | (106) | 255 | |||||
CECL ACL | 4,780 | 8,592 | 8,691 | 4,780 | ||||
Pooled loans under CECL - Qualitative [Member] | ||||||||
Financing Receivable, Allowance for Credit Loss [Line Items] | ||||||||
CECL transition adjustment | $ 3,965 | |||||||
CECL ACL | 3,836 | 3,549 | 3,965 | 3,965 | ||||
Charge-offs | 0 | 0 | (19) | |||||
Recoveries | 0 | 0 | ||||||
PCL | 89 | 287 | 397 | |||||
CECL ACL | $ 3,925 | $ 3,836 | $ 3,549 | $ 3,925 | ||||
[1] Reported on the Statements of Financial Condition as an adjustment to held-to-maturity investment securities Reported on the Statements of Financial Condition as an adjustment to other liabilities |
Allowance for Credit Losses -_2
Allowance for Credit Losses - Schedule of Changes in the Allowance for Loan Losses (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | $ 13,078,000 | $ 12,935,000 | |||
Charge-offs | (176,000) | (546,000) | |||
Recoveries | 20,000 | 372,000 | |||
Provisions (credits) | $ 833,000 | 710,000 | $ 2,700,000 | 871,000 | |
CECL Reserve | 13,632,000 | 13,632,000 | |||
Ending balance: related to loans individually evaluated for impairment | 3,416,000 | 3,416,000 | |||
CECL ACL January 1, 2023 | 10,216,000 | 10,216,000 | |||
Loans receivables: | |||||
Loans receivables Ending balance | 880,356,000 | 887,190,000 | 880,356,000 | 887,190,000 | $ 882,435,000 |
Ending balance: related to loans individually evaluated for impairment | 17,721,000 | 17,721,000 | |||
Ending balance: collectively evaluated for impairment | 869,469,000 | 869,469,000 | |||
Total Loans Receivable | 896,476,000 | 896,476,000 | 898,754,000 | ||
1-4 Family First Lien Residential Mortgages [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 714,000 | ||||
CECL Reserve | 2,007,000 | 2,007,000 | |||
Residential Construction Mortgage [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 0 | ||||
CECL Reserve | 872,000 | 872,000 | |||
Real Estate [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 5,881,000 | ||||
CECL Reserve | 5,054,000 | 5,054,000 | |||
Lines of Credit [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 3,990,000 | ||||
CECL Reserve | 1,873,000 | 1,873,000 | |||
Other Commercial and Industrial [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 2,944,000 | ||||
CECL Reserve | 3,041,000 | 3,041,000 | |||
Paycheck Protection Program [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 0 | ||||
Charge-offs | 0 | ||||
Recoveries | 0 | ||||
Provisions (credits) | 0 | ||||
CECL Reserve | 0 | 0 | |||
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | |||
CECL ACL January 1, 2023 | 0 | 0 | |||
Loans receivables: | |||||
Loans receivables Ending balance | 169,000 | 693,000 | 169,000 | 693,000 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 169,000 | 693,000 | 169,000 | 693,000 | |
Tax Exempt Loans [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 3,000 | ||||
CECL Reserve | 13,000 | 13,000 | |||
Home Equity and Junior Liens [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 741,000 | ||||
CECL Reserve | 722,000 | 722,000 | |||
Other Consumer [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 1,046,000 | ||||
CECL Reserve | 2,185,000 | 2,185,000 | |||
Unallocated [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 589,000 | 0 | 984,000 | ||
Charge-offs | 0 | 0 | |||
Recoveries | 0 | 0 | |||
Provisions (credits) | (546,000) | (941,000) | |||
CECL Reserve | 43,000 | 43,000 | |||
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | |||
CECL ACL January 1, 2023 | 43,000 | 43,000 | |||
Loans receivables: | |||||
Loans receivables Ending balance | 275,000 | 275,000 | |||
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | |||
Ending balance: collectively evaluated for impairment | 275,000 | 275,000 | |||
Residential Portfolio Segment [Member] | |||||
Loans receivables: | |||||
Total Loans Receivable | 255,046,000 | 255,046,000 | 262,760,000 | ||
Residential Portfolio Segment [Member] | 1-4 Family First Lien Residential Mortgages [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 2,036,000 | 897,000 | 714,000 | 872,000 | |
Adoption of New Accounting Standard | 1,396,000 | ||||
Charge-offs | (60,000) | 0 | (60,000) | (29,000) | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions (credits) | 31,000 | 85,000 | (4,000) | 31,000 | |
CECL Reserve | 2,007,000 | 812,000 | 2,007,000 | 812,000 | |
Ending balance: related to loans individually evaluated for impairment | 126,000 | 92,000 | 126,000 | 92,000 | |
CECL ACL January 1, 2023 | 1,881,000 | 720,000 | 1,881,000 | 720,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 252,956,000 | 245,428,000 | 252,956,000 | 245,428,000 | |
Ending balance: related to loans individually evaluated for impairment | 1,681,000 | 1,125,000 | 1,681,000 | 1,125,000 | |
Ending balance: collectively evaluated for impairment | 251,275,000 | 244,303,000 | 251,275,000 | 244,303,000 | |
Total Loans Receivable | 252,956,000 | 252,956,000 | 257,656,000 | ||
Residential Portfolio Segment [Member] | Residential Construction Mortgage [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 634,000 | 0 | 0 | 0 | |
Adoption of New Accounting Standard | 969,000 | ||||
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions (credits) | (238,000) | 0 | (78,000) | 0 | |
CECL Reserve | 872,000 | 0 | 872,000 | 0 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
CECL ACL January 1, 2023 | 872,000 | 0 | 872,000 | 0 | |
Loans receivables: | |||||
Loans receivables Ending balance | 2,090,000 | 14,623,000 | 2,090,000 | 14,623,000 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 2,090,000 | 14,623,000 | 2,090,000 | 14,623,000 | |
Commercial Portfolio Segment [Member] | |||||
Loans receivables: | |||||
Total Loans Receivable | 525,445,000 | 525,445,000 | 509,136,000 | ||
Commercial Portfolio Segment [Member] | Real Estate [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 5,431,000 | 5,522,000 | 5,881,000 | 5,308,000 | |
Adoption of New Accounting Standard | (1,744,000) | ||||
Charge-offs | 0 | 0 | 0 | (23,000) | |
Recoveries | 24,000 | 0 | 24,000 | 250,000 | |
Provisions (credits) | 401,000 | (234,000) | 78,000 | (221,000) | |
CECL Reserve | 5,054,000 | 5,756,000 | 5,054,000 | 5,756,000 | |
Ending balance: related to loans individually evaluated for impairment | 598,000 | 339,000 | 598,000 | 339,000 | |
CECL ACL January 1, 2023 | 4,456,000 | 5,417,000 | 4,456,000 | 5,417,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 362,822,000 | 337,392,000 | 362,822,000 | 337,392,000 | |
Ending balance: related to loans individually evaluated for impairment | 11,525,000 | 7,291,000 | 11,525,000 | 7,291,000 | |
Ending balance: collectively evaluated for impairment | 351,297,000 | 330,101,000 | 351,297,000 | 330,101,000 | |
Total Loans Receivable | 362,822,000 | 362,822,000 | 345,330,000 | ||
Commercial Portfolio Segment [Member] | Lines of Credit [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 2,620,000 | 1,157,000 | 3,990,000 | 935,000 | |
Adoption of New Accounting Standard | 95,000 | ||||
Charge-offs | (1,230,000) | 0 | (1,230,000) | (38,000) | |
Recoveries | 0 | 0 | 1,000 | 0 | |
Provisions (credits) | 483,000 | 2,212,000 | (2,675,000) | 2,472,000 | |
CECL Reserve | 1,873,000 | 3,369,000 | 1,873,000 | 3,369,000 | |
Ending balance: related to loans individually evaluated for impairment | 1,093,000 | 2,184,000 | 1,093,000 | 2,184,000 | |
CECL ACL January 1, 2023 | 780,000 | 1,185,000 | 780,000 | 1,185,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 73,497,000 | 80,717,000 | 73,497,000 | 80,717,000 | |
Ending balance: related to loans individually evaluated for impairment | 2,052,000 | 4,033,000 | 2,052,000 | 4,033,000 | |
Ending balance: collectively evaluated for impairment | 71,445,000 | 76,684,000 | 71,445,000 | 76,684,000 | |
Total Loans Receivable | 73,497,000 | 73,497,000 | 82,050,000 | ||
Commercial Portfolio Segment [Member] | Other Commercial and Industrial [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 5,192,000 | 2,616,000 | 2,944,000 | 2,762,000 | |
Adoption of New Accounting Standard | 10,000 | ||||
Charge-offs | (2,499,000) | (134,000) | (2,798,000) | (334,000) | |
Recoveries | 5,000 | 0 | 132,000 | 46,000 | |
Provisions (credits) | 343,000 | 205,000 | 2,753,000 | (197,000) | |
CECL Reserve | 3,041,000 | 2,277,000 | 3,041,000 | 2,277,000 | |
Ending balance: related to loans individually evaluated for impairment | 1,564,000 | 687,000 | 1,564,000 | 687,000 | |
CECL ACL January 1, 2023 | 1,477,000 | 1,590,000 | 1,477,000 | 1,590,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 85,506,000 | 74,641,000 | 85,506,000 | 74,641,000 | |
Ending balance: related to loans individually evaluated for impairment | 6,759,000 | 4,647,000 | 6,759,000 | 4,647,000 | |
Ending balance: collectively evaluated for impairment | 78,747,000 | 69,994,000 | 78,747,000 | 69,994,000 | |
Total Loans Receivable | 85,506,000 | 85,506,000 | 77,273,000 | ||
Commercial Portfolio Segment [Member] | Tax Exempt Loans [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 15,000 | 4,000 | 3,000 | 3,000 | |
Adoption of New Accounting Standard | 14,000 | ||||
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions (credits) | (2,000) | 1,000 | (43,000) | 0 | |
CECL Reserve | 13,000 | 3,000 | 13,000 | 3,000 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
CECL ACL January 1, 2023 | 13,000 | 3,000 | 13,000 | 3,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 3,451,000 | 4,344,000 | 3,451,000 | 4,344,000 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 3,451,000 | 4,344,000 | 3,451,000 | 4,344,000 | |
Total Loans Receivable | 3,451,000 | 3,451,000 | 4,280,000 | ||
Consumer Portfolio Segment [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 18,796,000 | 15,319,000 | |||
Adoption of New Accounting Standard | 1,886,000 | ||||
Charge-offs | (3,873,000) | (4,365,000) | |||
Recoveries | 46,000 | 252,000 | |||
Provisions (credits) | 798,000 | 983,000 | |||
CECL Reserve | 15,767,000 | 15,767,000 | |||
Ending balance: related to loans individually evaluated for impairment | 3,528,000 | 3,528,000 | |||
CECL ACL January 1, 2023 | 12,239,000 | 12,239,000 | |||
Loans receivables: | |||||
Loans receivables Ending balance | 896,476,000 | 896,476,000 | |||
Ending balance: related to loans individually evaluated for impairment | 22,729,000 | 22,729,000 | |||
Ending balance: collectively evaluated for impairment | 873,747,000 | 873,747,000 | |||
Total Loans Receivable | 115,985,000 | 115,985,000 | 126,858,000 | ||
Consumer Portfolio Segment [Member] | Home Equity and Junior Liens [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 682,000 | 750,000 | 741,000 | 774,000 | |
Adoption of New Accounting Standard | (97,000) | ||||
Charge-offs | 0 | 0 | 0 | 0 | |
Recoveries | 0 | 0 | 0 | 0 | |
Provisions (credits) | (40,000) | 321,000 | 97,000 | (345,000) | |
CECL Reserve | 722,000 | 429,000 | 722,000 | 429,000 | |
Ending balance: related to loans individually evaluated for impairment | 147,000 | 114,000 | 147,000 | 114,000 | |
CECL ACL January 1, 2023 | 575,000 | 316,000 | 575,000 | 316,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 34,666,000 | 33,746,000 | 34,666,000 | 33,746,000 | |
Ending balance: related to loans individually evaluated for impairment | 712,000 | 625,000 | 712,000 | 625,000 | |
Ending balance: collectively evaluated for impairment | 33,954,000 | 33,121,000 | 33,954,000 | 33,121,000 | |
Total Loans Receivable | 34,666,000 | 34,666,000 | 34,007,000 | ||
Consumer Portfolio Segment [Member] | Other Consumer [Member] | |||||
Allowance for loan losses: | |||||
Current Expected Credit Loss Allowance for Credit Losses | 2,186,000 | 1,543,000 | 1,046,000 | 1,297,000 | |
Adoption of New Accounting Standard | 1,243,000 | ||||
Charge-offs | (84,000) | (42,000) | (277,000) | (122,000) | |
Recoveries | 17,000 | 20,000 | 95,000 | 76,000 | |
Provisions (credits) | 66,000 | 578,000 | 893,000 | 308,000 | |
CECL Reserve | 2,185,000 | 943,000 | 2,185,000 | 943,000 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
CECL ACL January 1, 2023 | 2,185,000 | 943,000 | 2,185,000 | 943,000 | |
Loans receivables: | |||||
Loans receivables Ending balance | 81,319,000 | 95,331,000 | 81,319,000 | 95,331,000 | |
Ending balance: related to loans individually evaluated for impairment | 0 | 0 | 0 | 0 | |
Ending balance: collectively evaluated for impairment | 81,319,000 | $ 95,331,000 | 81,319,000 | $ 95,331,000 | |
Total Loans Receivable | $ 81,319,000 | $ 81,319,000 | $ 92,851,000 |
Allowance for Credit Losses -_3
Allowance for Credit Losses - Schedule of Allowance for Loan Losses on Basis of Calculation Methodology (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Dec. 31, 2021 |
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | $ 13,632 | $ 13,078 | $ 12,935 | |||
1-4 Family First Lien Residential Mortgages [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | $ 2,007 | $ 714 | ||||
Residential Construction Mortgage [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 872 | 0 | ||||
Real Estate [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 5,054 | 5,881 | ||||
Lines of Credit [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 1,873 | 3,990 | ||||
Other Commercial and Industrial [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 3,041 | 2,944 | ||||
Tax Exempt Loans [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 13 | 3 | ||||
Home Equity and Junior Liens [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 722 | 741 | ||||
Other Consumer [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 2,185 | 1,046 | ||||
Unallocated [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Total | 0 | 43 | 589 | 984 | ||
Residential Mortgage Loans [Member] | 1-4 Family First Lien Residential Mortgages [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 126 | 91 | ||||
Historical loss rate | 1,540 | 0 | ||||
Qualitative factors | 341 | 618 | ||||
Total | 2,007 | $ 2,036 | 714 | 812 | 897 | 872 |
Residential Mortgage Loans [Member] | Residential Construction Mortgage [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | 0 | ||||
Historical loss rate | 650 | 321 | ||||
Qualitative factors | 222 | 0 | ||||
Total | 872 | 634 | 0 | 0 | 0 | 0 |
Commercial Loans [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Historical loss rate | 1,099 | |||||
Commercial Loans [Member] | Real Estate [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 598 | 346 | ||||
Historical loss rate | 2,662 | 708 | ||||
Qualitative factors | 1,794 | 5,567 | ||||
Total | 5,054 | 5,431 | 5,881 | 5,756 | 5,522 | 5,308 |
Commercial Loans [Member] | Lines of Credit [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 1,093 | 2,957 | ||||
Historical loss rate | 198 | 0 | ||||
Qualitative factors | 582 | 1,033 | ||||
Total | 1,873 | 2,620 | 3,990 | 3,369 | 1,157 | 935 |
Commercial Loans [Member] | Other Commercial and Industrial [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 1,564 | 1,285 | ||||
Historical loss rate | 1,012 | |||||
Qualitative factors | 465 | 1,562 | ||||
Total | 3,041 | 5,192 | 2,944 | 2,277 | 2,616 | 2,762 |
Commercial Loans [Member] | Tax Exempt Loans [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | 0 | ||||
Historical loss rate | 4 | 5 | ||||
Qualitative factors | 9 | 3 | ||||
Other | 0 | |||||
Total | 13 | 15 | 3 | 3 | 4 | 3 |
Consumer Loans [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 5,655 | 4,793 | ||||
Historical loss rate | 6,581 | 97 | ||||
Qualitative factors | 3,531 | 9,427 | ||||
Other | 0 | |||||
Total | 15,767 | 18,796 | 15,319 | |||
Consumer Loans [Member] | Home Equity and Junior Liens [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 456 | 114 | ||||
Historical loss rate | 192 | 0 | ||||
Qualitative factors | 74 | 306 | ||||
Other | 0 | |||||
Total | 722 | 682 | 741 | 429 | 750 | 774 |
Consumer Loans [Member] | Other Consumer [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 1,818 | 0 | ||||
Historical loss rate | 323 | (32) | ||||
Qualitative factors | 44 | 338 | ||||
Other | 0 | |||||
Total | $ 2,185 | $ 2,186 | 1,046 | $ 943 | $ 1,543 | $ 1,297 |
Consumer Loans [Member] | Unallocated [Member] | ||||||
Allowance For Loan Losses On Basis Of Calculation Methodology Abstract | ||||||
Specifically reserved | 0 | |||||
Historical loss rate | 0 | |||||
Qualitative factors | 0 | |||||
Other | $ 0 |
Foreclosed Real Estate - Carryi
Foreclosed Real Estate - Carrying amount of foreclosed residential real estate properties (Details) $ in Thousands | Sep. 30, 2023 USD ($) Property | Dec. 31, 2022 USD ($) Property |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | ||
Foreclosed real estate, Carrying amount | $ | $ 189 | $ 221 |
Real Estate [Member] | ||
Real Estate Owned, Disclosure of Detailed Components [Abstract] | ||
Foreclosed real estate, Number of properties | Property | 5 | 2 |
Foreclosed Real Estate - Additi
Foreclosed Real Estate - Additional Information (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Real Estate Owned, Disclosure of Detailed Components [Abstract] | ||
Real estate loans in the process of foreclosure | $ 1,300,000 | $ 542,000 |
Guarantees - Additional Informa
Guarantees - Additional Information (Details) - Standby Letters of Credit [Member] $ in Millions | 9 Months Ended |
Sep. 30, 2023 USD ($) | |
Loss Contingencies [Line Items] | |
Maximum amount of loss due to credit risk | $ 1.8 |
Provision for credit losses | $ 0 |
Fair Value Measurements - Addit
Fair Value Measurements - Additional Information (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Schedule Of Available For Sale Securities [Line Items] | ||
Available for sale securities aggregate market value | $ 134,117 | $ 112,600 |
Available-for-sale Securities, Equity investment securities | 206 | 206 |
Level 2 [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available for sale securities aggregate market value | 3,000 | |
Corporate [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available for sale securities aggregate market value | 4,221 | $ 1,319 |
Corporate [Member] | Level 2 [Member] | ||
Schedule Of Available For Sale Securities [Line Items] | ||
Available for sale securities continuous unrealized loss position twelve months or more amortized historical cost basis | 4,100 | |
Available for sale securities aggregate market value | $ 4,400 |
Fair Value Measurements - Fair
Fair Value Measurements - Fair Value of Assets on Recurring Basis Segregated by Level of Valuation Inputs (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Debt investment securities: | ||
Investment securities - available-for-sale | $ 206,848 | $ 191,726 |
Equity investment securities: | ||
Common stock, equity securities | 206 | 206 |
Other Securities: | ||
Private equity securities | 206 | 206 |
Mutual funds Common Stock Financial Services Industry [Member] | ||
Equity investment securities: | ||
Common stock, equity securities | 206 | 206 |
Other Securities: | ||
Private equity securities | 206 | 206 |
Level 1 [Member] | Total Fair Value [Member] | ||
Other Securities: | ||
Private equity securities | 3,013 | 1,862 |
Level 2 [Member] | Total Fair Value [Member] | ||
Debt investment securities: | ||
Investment securities - available-for-sale | 202,196 | 186,757 |
Net Asset Value [Member] | Total Fair Value [Member] | ||
Debt investment securities: | ||
Investment securities - available-for-sale | 4,446 | 4,763 |
Recurring Basis [Member] | Total Fair Value [Member] | ||
Other Securities: | ||
Interest rate swap derivative fair value hedges | 12,516 | |
Recurring Basis [Member] | Level 1 [Member] | ||
Other Securities: | ||
Total available-for-sale securities | 206 | 206 |
Private equity securities | 3,013 | |
Recurring Basis [Member] | Level 1 [Member] | Mutual funds Common Stock Financial Services Industry [Member] | ||
Equity investment securities: | ||
Common stock, equity securities | 206 | 206 |
Recurring Basis [Member] | Level 2 [Member] | ||
Debt investment securities: | ||
US Treasury, agencies and GSEs | 38,146 | 29,364 |
State and political subdivisions | 29,143 | 45,385 |
Corporate | 6,961 | 7,066 |
Asset backed securities | 17,374 | 15,400 |
Residential mortgage-backed - US agency | 20,352 | 16,400 |
Collateralized mortgage obligations - US agency | 12,191 | 11,708 |
Collateralized mortgage obligations - Private label | 78,029 | 61,434 |
Investment securities - available-for-sale | 202,196 | 186,757 |
Other Securities: | ||
Total available-for-sale securities | 202,196 | 186,757 |
Interest rate swap derivative fair value hedges | 12,516 | 9,717 |
Interest rate swap derivative cash flow hedges | 909 | 519 |
Recurring Basis [Member] | Level 1, 2 and 3 [Member] | Total Fair Value [Member] | ||
Debt investment securities: | ||
US Treasury, agencies and GSEs | 38,146 | 29,364 |
State and political subdivisions | 29,143 | 45,385 |
Corporate | 6,961 | 7,066 |
Asset backed securities | 17,374 | 15,400 |
Residential mortgage-backed - US agency | 20,352 | 16,400 |
Collateralized mortgage obligations - US agency | 12,191 | 11,708 |
Collateralized mortgage obligations - Private label | 78,029 | 61,434 |
Investment securities - available-for-sale | 202,196 | 186,757 |
Other Securities: | ||
Corporate measured at NAV | 4,763 | |
Total available-for-sale securities | 206,848 | 191,726 |
Private equity securities | 1,862 | |
Interest rate swap derivative fair value hedges | 9,717 | |
Interest rate swap derivative cash flow hedges | 909 | 519 |
Recurring Basis [Member] | Level 1, 2 and 3 [Member] | Total Fair Value [Member] | Mutual funds Common Stock Financial Services Industry [Member] | ||
Equity investment securities: | ||
Common stock, equity securities | 206 | $ 206 |
Recurring Basis [Member] | Net Asset Value [Member] | Total Fair Value [Member] | ||
Other Securities: | ||
Corporate measured at NAV | $ 4,446 |
Fair Value Measurements - Summa
Fair Value Measurements - Summary of Fair Value Assets Measured on Nonrecurring Basis (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | |
Nonrecurring basis [Abstract] | |||||
Foreclosed real estate expenses | $ 44 | $ 17 | $ 76 | $ 57 | |
Nonrecurring Basis [Member] | Total Fair Value [Member] | |||||
Nonrecurring basis [Abstract] | |||||
Impaired loans | 7,225 | 7,225 | $ 2,328 | ||
Foreclosed real estate expenses | 189 | 221 | |||
Nonrecurring Basis [Member] | Level 3 [Member] | |||||
Nonrecurring basis [Abstract] | |||||
Impaired loans | $ 7,225 | 7,225 | 2,328 | ||
Foreclosed real estate expenses | $ 189 | $ 221 |
Fair Value Measurements - Fai_2
Fair Value Measurements - Fair Value Inputs, Quantitative Information (Details) - Level 3 [Member] - Measurement Input, Discount Rate [Member] | Sep. 30, 2023 | Dec. 31, 2022 |
Collateral dependent loans | Minimum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.12 | 0.05 |
Collateral dependent loans | Minimum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.07 | |
Collateral dependent loans | Maximum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.50 | 0.35 |
Collateral dependent loans | Maximum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.14 | |
Collateral dependent loans | Weighted Average [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | (0.18) | (0.17) |
Collateral dependent loans | Weighted Average [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | (0.12) | |
Foreclosed real estate | Minimum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.21 | 0.15 |
Foreclosed real estate | Minimum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.06 | |
Foreclosed real estate | Maximum [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.24 | 0.15 |
Foreclosed real estate | Maximum [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | 0.09 | |
Foreclosed real estate | Weighted Average [Member] | Appraisal of Collateral - Appraisal Adjustments [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | (0.22) | (0.15) |
Foreclosed real estate | Weighted Average [Member] | Appraisal of Collateral - Cost to Sell [Member] | ||
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis Valuation Techniques [Line Items] | ||
Fair value inputs, discount rate | (0.08) |
Fair Value Measurements - Carry
Fair Value Measurements - Carrying Amounts and Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Level 1 [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Cash and cash equivalents | $ 24,474 | $ 35,282 |
Equity Securities, FV-NI, Current | 3,013 | 1,862 |
Accrued interest receivable | 6,594 | 6,168 |
Financial liabilities: | ||
Demand Deposits, Savings, NOW and MMDA | 632,262 | 699,624 |
Accrued interest payable | 1,731 | 975 |
Level 1 [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Cash and cash equivalents | 24,474 | 35,282 |
Equity Securities, FV-NI, Current | 3,013 | 1,862 |
Accrued interest receivable | 6,594 | 6,168 |
Financial liabilities: | ||
Demand Deposits, Savings, NOW and MMDA | 632,262 | 699,624 |
Accrued interest payable | 1,731 | 975 |
Level 2 [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 202,196 | 186,757 |
Held-to-maturity Securities, Debt Maturities, Fair Value | 185,589 | 194,402 |
Federal Home Loan Bank stock | 5,824 | 5,982 |
Interest rate swap derivative cash flow hedge receivable | 909 | 519 |
Financial liabilities: | ||
Time Deposits | 495,591 | 425,806 |
Borrowings | 110,613 | 115,997 |
Subordinated loans | 29,867 | 29,733 |
Level 2 [Member] | Carrying Amounts [Member] | Loans receivable Member | ||
Financial assets: | ||
Interest rate derivative fair value hedges receivable | 5,807 | 1,477 |
Level 2 [Member] | Carrying Amounts [Member] | AFS Investments [Member] | ||
Financial assets: | ||
Interest rate derivative fair value hedges receivable | 6,709 | 8,240 |
Level 2 [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 202,196 | 186,757 |
Held-to-maturity Securities, Debt Maturities, Fair Value | 170,575 | 181,491 |
Federal Home Loan Bank stock | 5,824 | 5,982 |
Interest rate swap derivative cash flow hedge receivable | 909 | 519 |
Financial liabilities: | ||
Time Deposits | 494,392 | 393,676 |
Borrowings | 108,300 | 112,877 |
Subordinated loans | 27,660 | 27,378 |
Level 2 [Member] | Estimated Fair Values [Member] | Loans receivable Member | ||
Financial assets: | ||
Interest rate derivative fair value hedges receivable | 5,807 | 1,477 |
Level 2 [Member] | Estimated Fair Values [Member] | AFS Investments [Member] | ||
Financial assets: | ||
Interest rate derivative fair value hedges receivable | 6,709 | 8,240 |
Net Asset Value [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 4,446 | 4,763 |
Net Asset Value [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Investment securities - available-for-sale | 4,446 | 4,763 |
Level 3 [Member] | Carrying Amounts [Member] | ||
Financial assets: | ||
Net loans | 880,356 | 882,435 |
Level 3 [Member] | Estimated Fair Values [Member] | ||
Financial assets: | ||
Net loans | $ 827,228 | $ 844,892 |
Interest Rate Derivatives - Cum
Interest Rate Derivatives - Cumulative Basis Adjustments for Fair Value Hedges (Details) - Interest Rate Derivatives [Member] - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 | |
Available for Sale Securities [Member] | |||
Derivative [Line Items] | |||
Average Notional Balance | [1] | $ 53,940 | $ 68,741 |
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets | [1] | 6,709 | 8,240 |
Loans Receivable [Member] | |||
Derivative [Line Items] | |||
Average Notional Balance | [2] | 124,322 | 37,196 |
Cumulative Amount of Fair Value Hedging Adjustment Included in The Carrying Amount of the Hedged Assets | [2] | $ 5,807 | $ 1,477 |
[1] These amounts represent the amortized cost basis of specifically-identified municipal and Government Sponsored Enterprise ("GSE") debt securities designated as the underlying assets for the hedging relationship. The notional amount of the designated hedged item was $ 53.9 million and $ 68.7 million at September 30, 2023 and December 31, 2022, respectively. The fair value of the derivative resulted in a net asset position of $ 6.7 million and $ 8.2 million recorded by the Company in other assets at September 30, 2023 and December 31, 2022, respectively. These amounts include the amortized cost of a specific purchased consumer loan pool and a portion of the Bank's originated residential mortgage loan portfolio designated as the underlying assets for the hedging relationships in which the hedged item is the underlying asset's amortized cost (last layer) projected to be remaining at the end of the contractual term of the hedge instrument. The fair value hedge related to the residential mortgage pool had a notional value of $ 100 million when it was instituted on April 7, 2023 and had a notional value of $ 94.3 million at September 30, 2023. The amount of the designated hedged assets were $ 124.3 million and $ 37.2 million as of September 30, 2023 and December 31, 2022, respectively. At September 30, 2023, the fair value of the derivatives resulted in a net asset position of $ 5.8 million recorded by the Company in other assets. |
Interest Rate Derivatives - C_2
Interest Rate Derivatives - Cumulative Basis Adjustments for Fair Value Hedges (Parenthetical) (Details) - USD ($) $ in Millions | 9 Months Ended | |||
Apr. 07, 2023 | Sep. 30, 2023 | Jun. 30, 2023 | Dec. 31, 2022 | |
Derivative [Line Items] | ||||
Derivative Asset, Statement of Financial Position [Extensible Enumeration] | Other Assets | Other Assets | ||
Residential mortgage notional value | $ 100 | $ 94.3 | ||
Interest Rate Derivatives [Member] | ||||
Derivative [Line Items] | ||||
Derivative Asset | 6.7 | $ 8.2 | ||
Net Derivative Assets | 5.8 | |||
Available for Sale Securities [Member] | Interest Rate Derivatives [Member] | ||||
Derivative [Line Items] | ||||
Derivative Notional Amount | 53.9 | 68.7 | ||
Loans Receivable [Member] | Interest Rate Derivatives [Member] | ||||
Derivative [Line Items] | ||||
Amount of designated hedging item | $ 124.3 | $ 37.2 |
Interest Rate Derivatives - Sch
Interest Rate Derivatives - Schedule of Cash Flow Hedges (Details) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Derivative [Line Items] | ||
Total loss in comprehensive income | $ 909 | $ 519 |
Derivative, Loss, Statement of Income or Comprehensive Income [Extensible Enumeration] | Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax | Other Comprehensive Income (Loss), Cash Flow Hedge, Gain (Loss), after Reclassification, before Tax |
Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Total loss in comprehensive income | $ 909 | $ 519 |
Interest Rate Derivatives-Sched
Interest Rate Derivatives-Schedule of Hedge transcations increased the net income - Details (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Sep. 30, 2022 |
Average Notional Balance [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Investments | $ 53,756 | $ 61,659 |
Loans | 83,701 | 20,700 |
Fair Value Hedges, Net, Total | 137,457 | 82,359 |
Average Notional Balance [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Borrowed Funds | 47,778 | 53,333 |
Period Ending Notional Balance [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Investments | 52,120 | 66,845 |
Loans | 110,149 | 20,700 |
Fair Value Hedges, Net, Total | 162,269 | 87,545 |
Period Ending Notional Balance [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Borrowed Funds | 40,000 | 40,000 |
Net Cash Received (Paid) Recorded In Net Income [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Investments | 1,513 | 69 |
Loans | 1,540 | 62 |
Fair Value Hedges, Net, Total | 3,053 | 131 |
Net Cash Received (Paid) Recorded In Net Income [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Borrowed Funds | 748 | 94 |
Fair Value Receivable (Payable) at Quarter End [Member] | Fair Value Hedging [Member] | ||
Derivative [Line Items] | ||
Investments | 6,709 | 8,707 |
Loans | 5,807 | 1,103 |
Fair Value Hedges, Net, Total | 12,516 | 9,810 |
Fair Value Receivable (Payable) at Quarter End [Member] | Cash Flow Hedging [Member] | ||
Derivative [Line Items] | ||
Borrowed Funds | $ 909 | $ 699 |
Interest Rate Derivatives - Add
Interest Rate Derivatives - Additional Information (Details) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Derivative [Line Items] | ||
Increase (Decrease) Rate of Interest Expenses with MMDA | 0.0041 | 0.0005 |
Minimum [Member] | ||
Derivative [Line Items] | ||
Hedging contracts rates | 27% | 0.01% |
Maximum [Member] | ||
Derivative [Line Items] | ||
Hedging contracts rates | 0.23% | 0.01% |
Accumulated Other Comprehensi_3
Accumulated Other Comprehensive (Loss) Income - Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning balance | $ 114,429 | $ 108,128 | $ 111,582 | $ 110,633 |
Ending balance | 114,442 | 107,795 | 114,442 | 107,795 |
Retirement Plans [Member] | ||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning balance | (2,345) | (1,411) | (2,427) | (1,412) |
Other comprehensive (loss) income before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from AOCI | 41 | 1 | 123 | 2 |
Ending balance | (2,304) | (1,410) | (2,304) | (1,410) |
Unrealized Loss on Available for Sale Securities | ||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning balance | (9,495) | (8,421) | (10,127) | 428 |
Other comprehensive (loss) income before reclassifications | (2,228) | (3,389) | (3,023) | (12,220) |
Amounts reclassified from AOCI | (1) | (136) | 1,426 | 118 |
Ending balance | (11,724) | (11,674) | (11,724) | (11,674) |
Unrealized Gain and Loss on Derivatives and Hedging Activities [Member] | ||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning balance | (470) | 431 | 382 | (286) |
Other comprehensive (loss) income before reclassifications | 202 | 86 | 290 | 803 |
Amounts reclassified from AOCI | 0 | 0 | 0 | 0 |
Ending balance | 672 | 517 | 672 | 517 |
Unrealized Gain and Loss on Securities Transferred to Held-to-Maturity [Member] | ||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning balance | 0 | 2 | 0 | 2 |
Other comprehensive (loss) income before reclassifications | 0 | 0 | 0 | 0 |
Amounts reclassified from AOCI | 0 | 0 | 0 | 0 |
Ending balance | 0 | 2 | 0 | 2 |
AOCI Attributable to Parent [Member] | ||||
Changes in the Components of Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract] | ||||
Beginning balance | (11,370) | (9,399) | (12,172) | (1,268) |
Other comprehensive (loss) income before reclassifications | 2,026 | (3,303) | (2,733) | (11,417) |
Amounts reclassified from AOCI | 40 | 137 | 1,549 | 120 |
Ending balance | $ (13,356) | $ (12,565) | $ (13,356) | $ (12,565) |
Accumulated Other Comprehensi_4
Accumulated Other Comprehensive (Loss) Income - Summary of Amounts Reclassified Out of Each Component of AOCI (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | ||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | $ (4,154) | $ (4,196) | $ (12,243) | $ (12,030) | |
Provision for income taxes | (573) | (772) | (1,772) | (2,273) | |
Net income attributable to Pathfinder Bancorp Inc. | 2,176 | 3,180 | 6,757 | 9,402 | |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Retirement Plans [Member] | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Salaries and employee benefits | [1],[2] | (56) | (1) | (167) | (2) |
Provision for income taxes | [1] | 15 | 0 | 44 | 1 |
Net income attributable to Pathfinder Bancorp Inc. | [1] | (41) | (1) | (123) | (1) |
Reclassification out of Accumulated Other Comprehensive Income [Member] | Available-for-sale securities | |||||
Reclassification Adjustment Out Of Accumulated Other Comprehensive Income [Line Items] | |||||
Net gains on sales and redemptions of investment securities | [1] | 1 | (186) | (1,932) | (160) |
Provision for income taxes | [1] | 0 | 50 | 506 | 43 |
Net income attributable to Pathfinder Bancorp Inc. | [1] | $ 1 | $ (136) | $ (1,426) | $ (117) |
[1] Amounts in parentheses indicates debits in net income. These items are included in net periodic pension cost. |
Noninterest Income - Summary of
Noninterest Income - Summary of Noninterest Income (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation Of Revenue [Line Items] | ||||
Earnings and gain on bank owned life insurance | $ 165 | $ 156 | $ 466 | $ 441 |
Gains (losses) on marketable equity securities | (39) | 0 | (208) | 39 |
Net gains on sale and redemption of investment securities | (13) | (198) | 60 | (168) |
Other miscellaneous income | 3 | 13 | 40 | 239 |
Total noninterest income | 1,193 | 1,161 | 3,872 | 4,060 |
Insufficient Funds Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 181 | 154 | 488 | 406 |
Deposit Related Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 112 | 120 | 321 | 332 |
ATM Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 50 | 60 | 104 | 138 |
Service Charges on Deposit Accounts [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 343 | 334 | 913 | 876 |
Insurance Agency [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 310 | 258 | 1,001 | 849 |
Investment Services Revenue [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 128 | 140 | 360 | 365 |
ATM Fees Surcharge [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 61 | 66 | 168 | 172 |
Banking House Rents Collected [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 54 | 70 | 150 | 172 |
Fee Income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 553 | 534 | 1,679 | 1,558 |
Debit Card Interchange Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 22 | 180 | 455 | 639 |
Merchant Card Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 19 | 21 | 46 | 54 |
Card Income [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 41 | 201 | 501 | 693 |
Loan Servicing Fees [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 99 | 74 | 238 | 260 |
Net Gain on Sale of Loans and Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 41 | 47 | 183 | 122 |
Total Mortgage Fee Income and Realized Gain on Sale of Loans and Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | 140 | 121 | 421 | 382 |
Service Fees, Fee Income, Card Income and Mortgage Fee Income and Realized Gain on Sale of Loans and Foreclosed Real Estate [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Noninterest income | $ 1,077 | $ 1,190 | $ 3,514 | $ 3,509 |
Leases - Additional Information
Leases - Additional Information (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Lessee Lease Description [Line Items] | ||||
Operating lease, option to extend lease term, description | Our leases have remaining lease terms that vary from 2 years up to 29 years, some of which include options to extend the leases for various renewal periods. | |||
Operating lease, option to extend lease term | true | |||
ASU 2016-02 [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Lease rental income | $ 53,000 | $ 70,000 | $ 149,000 | $ 172,000 |
Minimum [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating leases remaining lease term | 2 years | |||
Maximum [Member] | ||||
Lessee Lease Description [Line Items] | ||||
Operating leases remaining lease term | 29 years |
Leases - Components of Lease Ex
Leases - Components of Lease Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Lease, Cost [Abstract] | ||||
Operating lease cost | $ 53 | $ 57 | $ 170 | $ 170 |
Finance lease cost | $ 56 | $ 21 | $ 167 | $ 62 |
Leases - Supplemental Cash Flow
Leases - Supplemental Cash Flow Information Related to Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Cash paid for amount included in the measurement of lease liabilities: | ||||
Operating cash flows from operating leases | $ 48 | $ 53 | $ 156 | $ 158 |
Operating cash flows from finance leases | 56 | 21 | 167 | 62 |
Financing cash flows from finance leases | $ 31 | $ 19 | $ 93 | $ 55 |
Leases - Supplemental Balance S
Leases - Supplemental Balance Sheet Information Related to Leases (Details) - USD ($) $ in Thousands | Sep. 30, 2023 | Dec. 31, 2022 |
Operating Leases: | ||
Operating lease right-of-use assets | $ 1,559 | $ 2,098 |
Operating lease liabilities | 1,739 | 2,417 |
Finance Leases: | ||
Finance lease right-of-use assets | 4,108 | 4,213 |
Finance lease liabilities | $ 4,391 | $ 4,422 |
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration] | Other liabilities | Other liabilities |
Weighted Average Remaining Lease Term: | ||
Operating Leases | 17 years 3 months 10 days | 18 years 3 months 10 days |
Finance Leases | 27 years 7 months 6 days | 28 years 4 months 6 days |
Weighted Average Discount Rate: | ||
Operating Leases | 3.88% | 3.85% |
Finance Leases | 9.40% | 9.41% |
Leases - Maturities of Lease Li
Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Sep. 30, 2023 USD ($) |
Lessee, Operating Lease, Liability, to be Paid, Rolling Maturity [Abstract] | |
2024 | $ 33 |
2025 | 164 |
2026 | 166 |
2027 | 168 |
2028 | 178 |
Thereafter | 5,421 |
Total minimum lease payments | $ 6,130 |
Related Party Transactions - Sc
Related Party Transactions - Schedule of Loans to Related Parties (Details) - Directors, Executive Officers and Affiliates [Member] - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2023 | Dec. 31, 2022 | |
Loans to Related Parties [Roll Forward] | ||
Balance at the beginning of the year | $ 32,531 | $ 22,427 |
Originations and related party additions | 3,010 | 15,278 |
Principal payments and related party removals | (2,558) | (5,174) |
Balance at the end of the period | $ 32,983 | $ 32,531 |