Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Oct. 28, 2022 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Fiscal Period Focus | Q3 | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-35021 | |
Entity Registrant Name | EVANS BANCORP, INC. | |
Entity Incorporation, State or Country Code | NY | |
Entity Tax Identification Number | 16-1332767 | |
Entity Address, Address Line One | 6460 Main St. | |
Entity Address, City or Town | Williamsville | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 14221 | |
City Area Code | 716 | |
Local Phone Number | 926-2000 | |
Title of 12(b) Security | Common Stock, $0.50 par value | |
Trading Symbol | EVBN | |
Security Exchange Name | NYSEAMER | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 5,513,950 | |
Amendment Flag | false | |
Entity Central Index Key | 0000842518 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2022 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
ASSETS | ||
Cash and due from banks | $ 14,394 | $ 9,856 |
Interest-bearing deposits at banks | 6,813 | 234,929 |
Securities: | ||
Available for sale, at fair value (amortized cost: $433,206 at September 30, 2022; $310,228 at December 31, 2021) | 369,141 | 305,959 |
Held to maturity, at amortized cost (fair value: $7,413 at September 30, 2022; $3,179 at December 31, 2021) | 7,572 | 3,165 |
Federal Home Loan Bank common stock, at cost | 3,664 | 3,045 |
Federal Reserve Bank common stock, at cost | 3,066 | 3,039 |
Loans, net of allowance for loan losses of $18,630 at September 30, 2022 and $18,438 at December 31, 2021 | 1,607,827 | 1,553,467 |
Properties and equipment, net of accumulated depreciation of $11,224 at September 30, 2022 and $10,283 at December 31, 2021 | 17,103 | 17,789 |
Goodwill | 12,702 | 12,702 |
Intangible assets | 1,327 | 1,627 |
Bank-owned life insurance | 41,605 | 34,295 |
Operating lease right-of-use asset | 4,127 | 4,826 |
Other assets | 40,364 | 25,941 |
TOTAL ASSETS | 2,129,705 | 2,210,640 |
Deposits: | ||
Demand | 558,805 | 492,864 |
NOW | 263,648 | 259,908 |
Savings | 913,383 | 1,019,925 |
Time | 137,910 | 164,340 |
Total deposits | 1,873,746 | 1,937,037 |
Securities sold under agreement to repurchase | 9,812 | 4,112 |
Other borrowings | 42,594 | 32,879 |
Operating lease liability | 4,471 | 5,210 |
Other liabilities | 18,181 | 16,536 |
Subordinated debt | 31,050 | 30,974 |
Total liabilities | 1,979,854 | 2,026,748 |
STOCKHOLDERS' EQUITY: | ||
Common stock, $0.50 par value, 10,000,000 shares authorized; 5,534,477 and 5,482,756 shares issued at September 30, 2022 and December 31, 2021, respectively, and 5,509,917 and 5,482,756 shares outstanding at September 30, 2022 and December 31, 2021, respectively. | 2,770 | 2,744 |
Capital surplus | 80,435 | 78,795 |
Treasury stock, at cost, 24,560 and 0 shares at September 30, 2022 and December 31, 2021, respectively | (849) | |
Retained earnings | 117,319 | 108,024 |
Accumulated other comprehensive income (loss), net of tax | (49,824) | (5,671) |
Total stockholders' equity | 149,851 | 183,892 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 2,129,705 | $ 2,210,640 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Securities: | ||
Available for sale, amortized cost | $ 433,206 | $ 310,228 |
Held to maturity, fair value | 7,413 | 3,179 |
Loans, allowance for loan losses | 18,630 | 18,438 |
Properties and equipment, accumulated depreciation | $ 11,224 | $ 10,283 |
STOCKHOLDERS' EQUITY: | ||
Common stock, par value | $ 0.50 | $ 0.50 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 5,534,477 | 5,482,756 |
Common stock, shares outstanding | 5,509,917 | 5,482,756 |
Treasury stock, shares | 24,560 | 0 |
Consolidated Statements Of Inco
Consolidated Statements Of Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
INTEREST INCOME | ||||
Loans | $ 17,988 | $ 18,096 | $ 50,540 | $ 53,675 |
Interest-bearing deposits at banks | 217 | 64 | 513 | 99 |
Securities: | ||||
Taxable | 2,190 | 1,087 | 5,851 | 2,907 |
Non-taxable | 92 | 55 | 197 | 167 |
Total interest income | 20,487 | 19,302 | 57,101 | 56,848 |
INTEREST EXPENSE | ||||
Deposits | 755 | 650 | 1,903 | 2,272 |
Other borrowings | 83 | 84 | 172 | 258 |
Subordinated debt | 461 | 405 | 1,285 | 1,208 |
Total interest expense | 1,299 | 1,139 | 3,360 | 3,738 |
NET INTEREST INCOME | 19,188 | 18,163 | 53,741 | 53,110 |
PROVISION (CREDIT) FOR LOAN LOSSES | 1,328 | (1,459) | 1,816 | (1,906) |
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES | 17,860 | 19,622 | 51,925 | 55,016 |
NON-INTEREST INCOME | ||||
Deposit service charges | 782 | 664 | 2,177 | 1,843 |
Insurance service and fees | 3,383 | 3,191 | 8,249 | 8,350 |
Bank-owned life insurance | 161 | 158 | 486 | 493 |
Interchange fee income | 532 | 548 | 1,563 | 1,585 |
Other | 909 | 596 | 2,335 | 1,870 |
Total non-interest income | 5,767 | 5,157 | 14,810 | 14,141 |
NON-INTEREST EXPENSE | ||||
Salaries and employee benefits | 10,450 | 9,930 | 29,356 | 28,339 |
Occupancy | 1,118 | 1,126 | 3,429 | 3,490 |
Advertising and public relations | 417 | 434 | 1,034 | 1,102 |
Professional services | 839 | 840 | 2,554 | 2,788 |
Technology and communications | 1,339 | 1,327 | 3,750 | 4,023 |
Amortization of intangibles | 100 | 135 | 300 | 405 |
FDIC insurance | 255 | 285 | 775 | 864 |
Other | 1,273 | 1,316 | 3,837 | 3,923 |
Total non-interest expense | 15,791 | 15,393 | 45,035 | 44,934 |
INCOME BEFORE INCOME TAXES | 7,836 | 9,386 | 21,700 | 24,223 |
INCOME TAX PROVISION | 1,972 | 2,407 | 5,354 | 6,079 |
NET INCOME | $ 5,864 | $ 6,979 | $ 16,346 | $ 18,144 |
Net income per common share-basic | $ 1.06 | $ 1.28 | $ 2.97 | $ 3.34 |
Net income per common share-diluted | $ 1.06 | $ 1.27 | $ 2.95 | $ 3.30 |
Weighted average number of common shares outstanding | 5,510,118 | 5,459,076 | 5,505,936 | 5,438,708 |
Weighted average number of diluted shares outstanding | 5,546,764 | 5,516,781 | 5,548,508 | 5,490,836 |
Consolidated Statements Of Comp
Consolidated Statements Of Comprehensive (Loss) Income - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Consolidated Statements Of Comprehensive (Loss) Income [Abstract] | ||||
NET INCOME | $ 5,864 | $ 6,979 | $ 16,346 | $ 18,144 |
Unrealized (loss) gain on available-for-sale securities | ||||
Unrealized (loss) gain on available-for-sale securities: | (15,581) | (1,530) | (44,319) | (3,697) |
Defined benefit pension plans: | ||||
Amortization of prior service cost | 6 | 5 | 16 | 16 |
Amortization of actuarial loss | 50 | 70 | 150 | 210 |
Total | 56 | 75 | 166 | 226 |
OTHER COMPREHENSIVE (LOSS) INCOME , NET OF TAX: | (15,525) | (1,455) | (44,153) | (3,471) |
COMPREHENSIVE (LOSS) INCOME | $ (9,661) | $ 5,524 | $ (27,807) | $ 14,673 |
Consolidated Statements Of Chan
Consolidated Statements Of Changes In Stockholders’ Equity - USD ($) $ in Thousands | Common Stock [Member] | Capital Surplus [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Loss [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2020 | $ 2,708 | $ 76,394 | $ 90,522 | $ (719) | $ 168,905 | |
Net income | 18,144 | 18,144 | ||||
Other comprehensive income (loss) | (3,471) | (3,471) | ||||
Cash dividends | (6,532) | (6,532) | ||||
Stock compensation expense | 634 | 634 | ||||
Issued restricted shares, net of forfeitures | 4 | (4) | ||||
Issued shares under Dividend Reinvestment Plan | 3 | 152 | 155 | |||
Issued shares in Employee Stock Purchase Plan | 3 | 200 | 203 | |||
Issued shares in stock option exercises | 9 | 187 | 196 | |||
Issued shares for earnout | 7 | 593 | 600 | |||
Balance at Sep. 30, 2021 | 2,734 | 78,156 | 102,134 | (4,190) | 178,834 | |
Balance at Jun. 30, 2021 | 2,724 | 77,270 | 98,430 | (2,735) | 175,689 | |
Net income | 6,979 | 6,979 | ||||
Other comprehensive income (loss) | (1,455) | (1,455) | ||||
Cash dividends | (3,275) | (3,275) | ||||
Stock compensation expense | 200 | 200 | ||||
Issued shares under Dividend Reinvestment Plan | 3 | 93 | 96 | |||
Issued shares for earnout | 7 | 593 | 600 | |||
Balance at Sep. 30, 2021 | 2,734 | 78,156 | 102,134 | (4,190) | 178,834 | |
Balance at Dec. 31, 2021 | 2,744 | 78,795 | 108,024 | (5,671) | 183,892 | |
Net income | 16,346 | 16,346 | ||||
Other comprehensive income (loss) | (44,153) | (44,153) | ||||
Cash dividends | (6,936) | (6,936) | ||||
Stock compensation expense | 952 | 952 | ||||
Issued restricted shares | 9 | (9) | ||||
Reissued shares under Dividend Reinvestment Plan | 2 | 141 | 143 | |||
Issued shares in Employee Stock Purchase Plan | 4 | 195 | 199 | |||
Issued shares in stock option exercises | 11 | 361 | 372 | |||
Repurchased shares in treasury stock | $ (1,098) | (1,098) | ||||
Reissued restricted shares, net of forfeitures | (115) | 249 | 134 | |||
Balance at Sep. 30, 2022 | 2,770 | 80,435 | 117,319 | (49,824) | (849) | 149,851 |
Balance at Jun. 30, 2022 | 2,769 | 80,072 | 114,982 | (34,299) | (849) | 162,675 |
Net income | 5,864 | 5,864 | ||||
Other comprehensive income (loss) | (15,525) | (15,525) | ||||
Cash dividends | (3,527) | (3,527) | ||||
Stock compensation expense | 328 | 328 | ||||
Issued shares in stock option exercises | 1 | 35 | 36 | |||
Balance at Sep. 30, 2022 | $ 2,770 | $ 80,435 | $ 117,319 | $ (49,824) | $ (849) | $ 149,851 |
Consolidated Statements Of Ch_2
Consolidated Statements Of Changes In Stockholders’ Equity (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Consolidated Statements Of Changes In Stockholders’ Equity [Abstract] | ||||
Cash dividends per common share | $ 0.64 | $ 0.60 | $ 1.26 | $ 1.20 |
Reissued restricted shares | 6,660 | |||
Issued restricted shares | 600 | |||
Issued restricted shares, net of forfeitures | 18,844 | 7,971 | ||
Forfeitures shares of restricted stock | 765 | 1,951 | ||
Issued shares under Dividend Reinvestment Plan | 6,633 | 4,611 | ||
Issued shares in Employee Stock Purchase Plan | 13,017 | 6,443 | ||
Issued shares in stock option exercises | 1,419 | 22,270 | 19,715 | |
Repurchased shares in treasury stock | 29,269 | |||
Issued shares for earnout | 13,017 | |||
Reissued shares under Dividend Reinvestment Plan | 3,705 | |||
Reissued shares in stock option exercises | 6,902 |
Consolidated Statements Of Cash
Consolidated Statements Of Cash Flows - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
OPERATING ACTIVITIES: | ||
Interest received | $ 55,607 | $ 53,464 |
Fees received | 14,424 | 13,271 |
Interest paid | (3,607) | (4,674) |
Cash paid to employees and vendors | (46,166) | (43,964) |
Income taxes paid | (3,327) | (5,086) |
Proceeds from sale of loans held for sale | 4,719 | |
Originations of loans held for sale | (4,529) | (262) |
Net cash provided by operating activities | 17,121 | 12,749 |
Available For Sales Securities: | ||
Purchases | (144,413) | (124,683) |
Proceeds from sales, maturities, calls, and payments | 20,806 | 27,680 |
Held to maturity securities: | ||
Purchases | (6,581) | (3,562) |
Proceeds from maturities, calls, and payments | 2,174 | 3,034 |
Cash paid for bank-owned life insurance | (6,830) | |
Proceeds from bank-owned life insurance claims | 378 | |
Additions to properties and equipment | (654) | (901) |
Proceeds from tax credit investment | 191 | |
Sale of other real estate | 17 | 129 |
Net (increase) decrease in loans | (54,670) | 85,896 |
Cash paid for earnout | (900) | |
Net cash used in investing activities | (189,582) | (13,307) |
FINANCING ACTIVITIES: | ||
Repayments from long-term borrowings, net | (12,402) | (6,891) |
Proceeds (repayments) from short-term borrowings, net | 28,200 | (769) |
Net (decrease) increase in deposits | (63,256) | 105,040 |
Dividends paid | (3,409) | (3,257) |
Repurchase of treasury stock | (1,098) | |
Issuance of common stock | 714 | 554 |
Reissuance of treasury stock | 134 | |
Net cash (used in) provided by financing activities | (51,117) | 94,677 |
Net (decrease) increase in cash and cash equivalents | (223,578) | 94,119 |
CASH AND CASH EQUIVALENTS: | ||
Beginning of period | 244,785 | 97,604 |
End of period | 21,207 | 191,723 |
RECONCILIATION OF NET INCOME TO NET CASH PROVIDED BY OPERATING ACTIVITIES: | ||
Net income | 16,346 | 18,144 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 1,270 | 1,481 |
Deferred tax expense | 348 | 970 |
Provision (credit) for loan losses | 1,816 | (1,906) |
Loss on sales of assets | 5 | 22 |
Gain on loans sold | (92) | |
Stock compensation expense | 952 | 634 |
Proceeds from sale of loans held for sale | 4,719 | |
Originations of loans held for sale | (4,529) | (262) |
Changes in assets and liabilities affecting cash flow: | ||
Other assets | (3,003) | (6,724) |
Other liabilities | (711) | 390 |
NET CASH PROVIDED BY OPERATING ACTIVITIES | $ 17,121 | $ 12,749 |
Organization And Summary Of Sig
Organization And Summary Of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | 1. ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), and Evans National Holding Corp. (“ENHC”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiaries, Frontier Claims Services, Inc. (“FCS”) and ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” The Financial Accounting Standards Board (“FASB”) establishes changes to GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. ASUs adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The results of operations for the nine month period ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “10-K”). There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K. |
Securities
Securities | 9 Months Ended |
Sep. 30, 2022 | |
Securities [Abstract] | |
Securities | 2. SECURITIES The amortized cost of securities and their approximate fair value at September 30, 2022 and December 31, 2021 were as follows: September 30, 2022 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 166,351 $ 2 $ ( 25,289 ) $ 141,064 States and political subdivisions 23,573 2 ( 1,721 ) 21,854 Total debt securities 189,924 4 ( 27,010 ) 162,918 Mortgage-backed securities: FNMA 76,916 - ( 13,272 ) 63,644 FHLMC 47,544 - ( 7,160 ) 40,384 GNMA 40,741 - ( 6,019 ) 34,722 SBA 23,044 - ( 2,397 ) 20,647 CMO 55,037 - ( 8,211 ) 46,826 Total mortgage-backed securities 243,282 - ( 37,059 ) 206,223 Total securities designated as available for sale $ 433,206 $ 4 $ ( 64,069 ) $ 369,141 Held to Maturity: Debt securities States and political subdivisions $ 7,572 $ - $ ( 159 ) $ 7,413 Total securities designated as held to maturity $ 7,572 $ - $ ( 159 ) $ 7,413 December 31, 2021 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 99,005 $ 199 $ ( 2,386 ) $ 96,818 States and political subdivisions 6,150 96 - 6,246 Total debt securities 105,155 295 ( 2,386 ) 103,064 Mortgage-backed securities: FNMA 64,056 222 ( 1,068 ) 63,210 FHLMC 38,796 62 ( 424 ) 38,434 GNMA 31,814 15 ( 615 ) 31,214 SBA 17,919 343 ( 54 ) 18,208 CMO 52,488 175 ( 834 ) 51,829 Total mortgage-backed securities 205,073 817 ( 2,995 ) 202,895 Total securities designated as available for sale $ 310,228 $ 1,112 $ ( 5,381 ) $ 305,959 Held to Maturity: Debt securities States and political subdivisions $ 3,165 $ 17 $ ( 3 ) $ 3,179 Total securities designated as held to maturity $ 3,165 $ 17 $ ( 3 ) $ 3,179 Available for sale securities with a total fair value of $ 244 million and $ 207 million were pledged as collateral to secure public deposits and for other purposes required or permitted by law at September 30, 2022 and December 31, 2021, respectively. The scheduled maturities of debt and mortgage-backed securities at September 30, 2022 are summarized below. All maturity amounts are contractual maturities. Actual maturities may differ from contractual maturities because certain issuers have the right to call or prepay obligations with or without call premiums. September 30, 2022 Amortized Estimated cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 6,839 $ 6,769 Due after one year through five years 79,801 73,585 Due after five years through ten years 74,294 62,431 Due after ten years 28,990 20,133 189,924 162,918 Mortgage-backed securities available for sale 243,282 206,223 Total $ 433,206 $ 369,141 Debt securities held to maturity: Due in one year or less $ 6,665 $ 6,615 Due after one year through five years 495 456 Due after five years through ten years 412 342 Due after ten years - - Total $ 7,572 $ 7,413 Contractual maturities of the Company’s mortgage-backed securities generally exceed ten years ; however, the effective lives may be significantly shorter due to prepayments of the underlying loans and due to the nature of these securities. There were no gross realized gains or losses from sales of investment securities for the three and nine month periods ended September 30, 2022 and 2021. Management has assessed the securities available for sale in an unrealized loss position at September 30, 2022 and December 31, 2021 and determined the decline in fair value below amortized cost to be temporary. In making this determination, management considered the period of time the securities were in a loss position, the percentage decline in comparison to the securities’ amortized cost, and the financial condition of the issuer (primarily government or government-sponsored enterprises). In addition, management does not intend to sell these securities and it is not more likely than not that the Company will be required to sell these securities before recovery of their amortized cost. Management believes the decline in fair value is primarily related to market interest rate fluctuations and not to the credit deterioration of the individual issuers. The Company has no t recorded any other-than-temporary impairment (“OTTI”) charges during the nine month period ended September 30, 2022 and did no t record any OTTI charges during 2021. The credit worthiness of the Company’s securities portfolio is largely reliant on the ability of U.S. government sponsored agencies such as Federal Home Loan Bank (“FHLB”), Federal National Mortgage Association (“FNMA”), Government National Mortgage Association (“GNMA”), and Federal Home Loan Mortgage Corporation (“FHLMC”), and municipalities throughout New York State to meet their obligations. In addition, dysfunctional markets could materially alter the liquidity, interest rate, and pricing risk of the portfolio. The stable past performance is not a guarantee for similar performance of the Company’s securities portfolio in future periods. Information regarding unrealized losses within the Company’s available for sale securities at September 30, 2022 and December 31, 2021 is summarized below. September 30, 2022 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 91,283 $ ( 9,992 ) $ 48,781 $ ( 15,297 ) $ 140,064 $ ( 25,289 ) States and political subdivisions 20,748 ( 1,721 ) - - 20,748 ( 1,721 ) Total debt securities 112,031 ( 11,713 ) 48,781 ( 15,297 ) 160,812 ( 27,010 ) Mortgage-backed securities: FNMA 31,695 ( 5,178 ) 31,889 ( 8,094 ) 63,584 ( 13,272 ) FHLMC 24,908 ( 3,503 ) 15,458 ( 3,657 ) 40,366 ( 7,160 ) GNMA 20,125 ( 2,675 ) 14,597 ( 3,344 ) 34,722 ( 6,019 ) SBA 17,478 ( 1,966 ) 3,169 ( 431 ) 20,647 ( 2,397 ) CMO 29,286 ( 3,855 ) 17,540 ( 4,356 ) 46,826 ( 8,211 ) Total mortgage-backed securities 123,492 ( 17,177 ) 82,653 ( 19,882 ) 206,145 ( 37,059 ) Held to Maturity: Debt securities: States and political subdivisions 7,335 ( 149 ) 78 ( 10 ) 7,413 ( 159 ) Total temporarily impaired securities $ 242,858 $ ( 29,039 ) $ 131,512 $ ( 35,189 ) $ 374,370 $ ( 64,228 ) December 31, 2021 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 50,381 $ ( 884 ) $ 27,488 $ ( 1,502 ) $ 77,869 $ ( 2,386 ) States and political subdivisions - - - - - - Total debt securities 50,381 ( 884 ) 27,488 ( 1,502 ) 77,869 ( 2,386 ) Mortgage-backed securities: FNMA 48,008 ( 903 ) 2,941 ( 165 ) 50,949 ( 1,068 ) FHLMC 35,851 ( 423 ) 76 ( 1 ) 35,927 ( 424 ) GNMA 30,252 ( 615 ) 143 - 30,395 ( 615 ) SBA 2,824 ( 25 ) 1,218 ( 29 ) 4,042 ( 54 ) CMO 38,313 ( 833 ) 25 ( 1 ) 38,338 ( 834 ) Total mortgage-backed securities 155,248 ( 2,799 ) 4,403 ( 196 ) 159,651 ( 2,995 ) Held to Maturity: Debt securities: States and political subdivisions 1,782 ( 3 ) - - 1,782 ( 3 ) Total temporarily impaired securities $ 207,411 $ ( 3,686 ) $ 31,891 $ ( 1,698 ) $ 239,302 $ ( 5,384 ) |
Loans And The Allowance For Loa
Loans And The Allowance For Loan Losses | 9 Months Ended |
Sep. 30, 2022 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Loans And The Allowance For Loan Losses | 3. LOANS AND THE ALLOWANCE FOR LOAN LOSSES Loan Portfolio Composition The following table presents selected information on the composition of the Company’s loan portfolio as of the dates indicated: September 30, 2022 December 31, 2021 Mortgage loans on real estate: (in thousands) Residential mortgages $ 433,102 $ 411,060 Commercial and multi-family 765,136 739,761 Construction-Residential 3,136 5,109 Construction-Commercial 103,763 98,012 Home equities 83,334 81,238 Total real estate loans 1,388,471 1,335,180 Commercial and industrial loans 238,093 237,077 Consumer and other loans 427 719 Unaccreted yield adjustments* ( 534 ) ( 1,071 ) Total gross loans 1,626,457 1,571,905 Allowance for loan losses ( 18,630 ) ( 18,438 ) Loans, net $ 1,607,827 $ 1,553,467 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated. At September 30, 2022, the outstanding principal balance and the carrying amount of acquired credit-impaired loans totaled $ 0.8 million and $ 0.7 million, respectively. At December 31, 2021, the outstanding principal balance and carrying amount of acquired credit-impaired loans totaled $ 0.8 million. There were no valuation allowances for specifically identified impairment attributable to acquired credit-impaired loans at September 30, 2022 or December 31, 2021. The Company is not recording interest on the acquired credit-impaired loans due to the uncertainty of the cash flows relating to such loans. There were $ 508 million and $ 619 million in residential and commercial mortgage loans pledged to FHLBNY to serve as collateral for potential borrowings as of September 30, 2022 and December 31, 2021, respectively. At September 30, 2022, the Company’s FHLMC loan serving portfolio had $ 61 million in principal balances of residential real estate loans that were sold to FHLMC and the servicing rights are retained by the Company. No loans were sold to FHLMC by the Company during the three month or nine month periods ending September 30, 2022 and 2021. The Company may also sell certain fixed rate residential mortgages to FNMA while maintaining the servicing rights for those mortgages. At September 30, 2022, the Company’s FNMA loan servicing portfolio was $ 59 million in principal balances. In the three month and nine month periods ended September 30, 2022, the Company sold $ 1.3 million and $ 4.8 million, respectively, of residential mortgages to FNMA. The Company did no t sell any mortgages to FNMA in the three and nine month periods ended September 30, 2021. At September 30, 2022 and December 31, 2021, the Company had loan servicing portfolio principal balances of $ 120 million and $ 131 million, respectively, upon which it earned servicing fees. The fair value of the mortgage servicing rights for that portfolio was $ 1.2 million and $ 0.9 million at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022 no residential mortgages were held for sale. At December 31, 2021 there were $ 0.1 million of residential mortgages held for sale. Credit Quality Indicators The Company monitors the credit risk in its loan portfolio by reviewing certain credit quality indicators (“CQI”). The primary CQI for the commercial mortgage and commercial and industrial portfolios is the individual loan’s credit risk rating. The following list provides a description of the credit risk ratings that are used internally by the Bank when assessing the adequacy of its allowance for loan losses: Acceptable or better Watch Special Mention Substandard Doubtful Loss “Special mention” and “substandard” loans are weaker credits with a higher risk of loss and are categorized as “criticized” assets. The Company’s consumer loans, including residential mortgages and home equities, are not individually risk rated or reviewed in the Company’s loan review process. Unlike commercial customers, consumer loan customers are not required to provide the Company with updated financial information. Consumer loans also carry smaller balances. Given the lack of updated information after the initial underwriting of the loan and small size of individual loans, the Company uses delinquency status as the primary credit quality indicator for consumer loans. However, once a consumer loan is identified as impaired, it is individually evaluated for impairment. The following tables provide data, at the class level, of credit quality indicators of certain loans for the dates specified: September 30, 2022 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 64,746 $ 547,332 $ 612,078 $ 175,101 Watch 19,505 165,144 184,649 46,557 Special Mention 6,943 21,453 28,396 9,555 Substandard 12,569 31,207 43,776 6,880 Doubtful/Loss - - - - Total $ 103,763 $ 765,136 $ 868,899 $ 238,093 December 31, 2021 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 65,211 $ 480,159 $ 545,370 $ 152,675 Watch 19,108 182,502 201,610 64,406 Special Mention 7,045 33,219 40,264 10,200 Substandard 6,648 43,881 50,529 9,796 Doubtful/Loss - - - - Total $ 98,012 $ 739,761 $ 837,773 $ 237,077 The Company continues to evaluate its portfolio of loans to clients within the hotel industry for residual impacts from the COVID-19 pandemic. The Company classified $ 81 million of loans to clients within the hotel industry as criticized in 2020. Subsequently, more than half of this portfolio has been upgraded or paid off. Currently, $ 38 million of the hotel portfolio remains in criticized status at the end of the 2022 third quarter. Total criticized assets were $ 89 and $ 111 million at September 30, 2022 and at the end of the 2021, respectively. Past Due Loans The following tables provide an analysis of the age of the recorded investment in loans that are past due as of the dates indicated: September 30, 2022 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 229,785 $ 5,375 $ 30 $ 64 $ 2,839 $ 238,093 Residential real estate: Residential 428,009 - 1,371 - 3,722 433,102 Construction 3,136 - - - - 3,136 Commercial real estate: Commercial 754,993 750 203 - 9,190 765,136 Construction 87,302 5,958 875 774 8,854 103,763 Home equities 81,512 1,144 160 - 518 83,334 Consumer and other 414 8 4 1 - 427 Total Loans $ 1,585,151 $ 13,235 $ 2,643 $ 839 $ 25,123 $ 1,626,991 Note: Loan balances do not include $( 0.5 ) million of unaccreted yield adjustments as of September 30, 2022. December 31, 2021 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 229,724 $ 1,336 $ 568 $ 548 $ 4,901 $ 237,077 Residential real estate: Residential 402,992 3,466 1,563 - 3,039 411,060 Construction 5,109 - - - - 5,109 Commercial real estate: Commercial 711,481 16,451 6,073 - 5,756 739,761 Construction 93,842 757 - 480 2,933 98,012 Home equities 79,644 627 209 - 758 81,238 Consumer and other 706 9 4 - - 719 Total Loans $ 1,523,498 $ 22,646 $ 8,417 $ 1,028 $ 17,387 $ 1,572,976 Note: Loan balances do not include $( 1.1 ) m illion of unaccreted yield adjustments as of December 31, 2021. Allowance for loan losses The following tables present the activity in the allowance for loan losses according to portfolio segment for the three month periods ended September 30, 2022 and 2021. Three months ended September 30, 2022 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 3,714 $ 12,305 $ 70 $ 2,164 $ 566 $ 18,819 Charge-offs ( 1,515 ) - ( 45 ) - - ( 1,560 ) Recoveries 40 - 3 - - 43 Provision 1,805 ( 603 ) 13 47 66 1,328 Ending balance $ 4,044 $ 11,702 $ 41 $ 2,211 $ 632 $ 18,630 *Includes construction loans Three months ended September 30, 2021 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 3,790 $ 13,925 $ 58 $ 1,694 $ 475 $ 19,942 Charge-offs ( 424 ) - ( 29 ) - - ( 453 ) Recoveries 15 - 4 - 2 21 Provision ( 228 ) ( 1,555 ) ( 12 ) 259 77 ( 1,459 ) Ending balance $ 3,153 $ 12,370 $ 21 $ 1,953 $ 554 $ 18,051 * Includes construction loans The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2022 and 2021. Nine months ended September 30, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 3,309 $ 12,367 $ 54 $ 2,127 $ 581 $ 18,438 Charge-offs ( 1,546 ) - ( 112 ) ( 55 ) - ( 1,713 ) Recoveries 76 - 13 - - 89 Provision (Credit) 2,205 ( 665 ) 86 139 51 1,816 Ending balance $ 4,044 $ 11,702 $ 41 $ 2,211 $ 632 $ 18,630 *Includes construction loans Nine months ended September 30, 2021 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,882 $ 13,249 $ 45 $ 1,658 $ 581 $ 20,415 Charge-offs ( 424 ) - ( 120 ) - - ( 544 ) Recoveries 58 - 26 - 2 86 Provision (Credit) ( 1,363 ) ( 879 ) 70 295 ( 29 ) ( 1,906 ) Ending balance $ 3,153 $ 12,370 $ 21 $ 1,953 $ 554 $ 18,051 *Includes construction loans The following table presents the allocation of the allowance for loan losses according to portfolio segment summarized on the basis of the Company’s impairment methodology as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment 2 2 - 66 39 109 Collectively evaluated for impairment 4,042 11,700 41 2,145 593 18,521 Total $ 4,044 $ 11,702 $ 41 $ 2,211 $ 632 $ 18,630 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 703 $ - $ 703 Individually evaluated for impairment 2,929 20,839 - 3,367 903 28,038 Collectively evaluated for impairment 235,164 848,060 427 432,168 82,431 1,598,250 Total $ 238,093 $ 868,899 $ 427 $ 436,238 $ 83,334 $ 1,626,991 Note: Loan balances do not include $( 0.5 ) million of unaccreted yield adjustments as of September 30, 2022. * Includes construction loans December 31, 2021 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment 100 345 - 9 41 495 Collectively evaluated for impairment 3,209 12,022 54 2,118 540 17,943 Total $ 3,309 $ 12,367 $ 54 $ 2,127 $ 581 $ 18,438 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 803 $ - $ 803 Individually evaluated for impairment 5,028 11,925 - 2,598 1,236 20,787 Collectively evaluated for impairment 232,049 825,848 719 412,768 80,002 1,551,386 Total $ 237,077 $ 837,773 $ 719 $ 416,169 $ 81,238 $ 1,572,976 Note: Loan balances do not include $( 1.1 ) million of unaccreted yield adjustments as of December 31, 2021. * Includes construction loans Impaired Loans The following tables provide data, at the class level, for impaired loans as of the dates indicated: At September 30, 2022 At December 31, 2021 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial and industrial $ 2,926 $ 3,551 $ - $ 4,874 $ 5,712 $ - Residential real estate: Residential 3,784 4,253 - 3,297 3,654 - Construction - - - - - - Commercial real estate: Commercial 11,814 12,150 - 8,821 9,338 - Construction 8,854 8,998 - 1,395 1,499 - Home equities 864 1,024 - 1,127 1,324 - Consumer and other - - - - - - Total impaired loans $ 28,242 $ 29,976 $ - $ 19,514 $ 21,527 $ - At September 30, 2022 At December 31, 2021 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With a related allowance recorded: Commercial and industrial $ 3 $ 3 $ 2 $ 154 $ 158 $ 100 Residential real estate: Residential 245 245 66 60 60 9 Construction - - - - - - Commercial real estate: Commercial 171 197 2 171 717 16 Construction - - - 1,538 1,555 329 Home equities 39 66 39 109 109 41 Consumer and other - - - - - - Total impaired loans $ 458 $ 511 $ 109 $ 2,032 $ 2,599 $ 495 At September 30, 2022 At December 31, 2021 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance Total: Commercial and industrial $ 2,929 $ 3,554 $ 2 $ 5,028 $ 5,870 $ 100 Residential real estate: Residential 4,029 4,498 66 3,357 3,714 9 Construction - - - - - - Commercial real estate: Commercial 11,985 12,347 2 8,992 10,055 16 Construction 8,854 8,998 - 2,933 3,054 329 Home equities 903 1,090 39 1,236 1,433 41 Consumer and other - - - - - - Total impaired loans $ 28,700 $ 30,487 $ 109 $ 21,546 $ 24,126 $ 495 Three months ended September 30, 2022 Three months ended September 30, 2021 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Total: Commercial and industrial $ 3,681 $ 2 $ 5,755 $ - Residential real estate: Residential 3,972 - 3,894 5 Construction - - - - Commercial real estate: Commercial 12,533 6 15,044 165 Construction 5,113 - 3,331 - Home equities 932 4 1,440 3 Consumer and other - - - - Total impaired loans $ 26,231 $ 12 $ 29,464 $ 173 Nine months ended September 30, 2022 Nine months ended September 30, 2021 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Total: Commercial and industrial $ 4,251 $ 6 $ 5,657 $ 29 Residential real estate: Residential 3,735 12 4,756 22 Construction - - - - Commercial real estate: Commercial 10,785 183 15,014 228 Construction 3,881 - 3,305 2 Home equities 999 14 1,669 7 Consumer and other - - - - Total impaired loans $ 23,651 $ 215 $ 30,401 $ 288 Troubled debt restructurings The following tables summarize the loans that were classified as troubled debt restructurings (“TDRs”) as of the dates indicated: September 30, 2022 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,254 $ 1,164 $ 90 $ - Residential real estate: Residential 889 541 348 - Construction - - - - Commercial real estate: Commercial and multi-family 2,795 - 2,795 - Construction - - - - Home equities 390 5 385 - Consumer and other - - - - Total TDR loans $ 5,328 $ 1,710 $ 3,618 $ - December 31, 2021 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,003 $ 876 $ 127 $ - Residential real estate: Residential 989 627 362 - Construction - - - - Commercial real estate: Commercial and multi-family 3,236 - 3,236 - Construction - - - - Home equities 490 12 478 - Consumer and other - - - - Total TDR loans $ 5,718 $ 1,515 $ 4,203 $ - Any TDR that is placed on non-accrual status is not reverted back to accruing status until the borrower makes timely payments as contracted for at least six months and future collection under the revised terms is probable. All of the Company’s restructurings were allowed in an effort to maximize its ability to collect on loans where borrowers were experiencing financial difficulty. The reserve for a TDR is based upon the present value of the future expected cash flows discounted at the loan’s original effective interest rate or upon the fair value of the collateral less costs to sell, if the loan is deemed collateral dependent. This reserve methodology is used because all TDR loans are considered impaired. The Company’s TDRs have various agreements that involve deferral of principal payments, or interest-only payments, for a period (usually 12 months or less) to allow the borrower time to improve cash flow or sell the property. Other common concessions leading to the designation of a TDR are lines of credit that are termed-out and/or extensions of maturities at rates that are less than the prevailing market rates given the risk profile of the borrower. During 2020, federal banking regulators issued guidance that modifications made to a borrower affected by the COVID-19 pandemic and governmental shutdown orders do not need to be identified as a TDR if the loan was current at the time a modification plan was implemented. The following tables present TDR activity by the type of concession granted to the borrower for the nine month periods ended September 30, 2022 and 2021. There were no new TDR loans during the three month periods ended September 30, 2022 and 2021. Nine months ended September 30, 2022 Nine months ended September 30, 2021 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings by Type of Concession Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial: - $ - $ - - $ - $ - Extension of maturity 1 461 461 - - - Residential Real Estate & Construction: Commercial Real Estate & Construction - - - - - - Home Equities: Extension of maturity and interest rate reduction 1 38 38 - - - Consumer and other loans - - - - - - The general practice of the Bank is to work with borrowers so that they are able to repay their loan in full. If a borrower continues to be delinquent or cannot meet the terms of a TDR and the loan is determined to be uncollectible, the loan will be charged-off to its collateral value. A loan is considered in default when the loan is 90 days past due. Loans which were classified as TDRs during the previous 12 months which defaulted during the three month and nine month periods ended September 30, 2022 and 2021 were not material. |
Common Equity And Earnings Per
Common Equity And Earnings Per Share Data | 9 Months Ended |
Sep. 30, 2022 | |
Common Equity And Earnings Per Share Data [Abstract] | |
Common Equity And Earnings Per Share Data | 4. COMMON EQUITY AND EARNINGS PER SHARE DATA The common stock per share information is based upon the weighted average number of shares outstanding during each period. For the three and nine month periods ended September 30, 2022 the Company had an average of 36,646 and 42,572 dilutive shares outstanding, respectively. For the three and nine month periods ended September 30, 2021 the Company had an average of 57,705 and 52,128 dilutive shares outstanding, respectively. Potential common shares that would have the effect of increasing diluted earnings per share are considered to be anti-dilutive and not included in calculating diluted earnings per share. There was an average of 54,680 and 55,847 potentially anti-dilutive shares outstanding for the three and nine month periods ended September 30, 2022, respectively. For the three and nine month periods ended September 30, 2021, there was an average of 39,390 and 80,614 potentially anti-dilutive shares outstanding, respectively. Potentially anti-dilutive shares outstanding were not included in calculating diluted earnings per share because their effect was anti-dilutive. |
Other Comprehensive Income (Los
Other Comprehensive Income (Loss) | 9 Months Ended |
Sep. 30, 2022 | |
Other Comprehensive Income (Loss) [Abstract] | |
Other Comprehensive Income (Loss) | 5. OTHER COMPREHENSIVE INCOME (LOSS) The following tables summarize the changes in the components of accumulated other comprehensive income (loss) during the three and nine month periods ended September 30, 2022 and 2021: Balance at June 30, 2022 Net Change Balance at September 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 31,898 ) $ ( 15,581 ) $ ( 47,479 ) Net defined benefit pension plan adjustments ( 2,401 ) 56 ( 2,345 ) Total $ ( 34,299 ) $ ( 15,525 ) $ ( 49,824 ) Balance at June 30, 2021 Net Change Balance at September 30, 2021 (in thousands) Net unrealized gain (loss) on investment securities $ 230 $ ( 1,530 ) $ ( 1,300 ) Net defined benefit pension plan adjustments ( 2,965 ) 75 ( 2,890 ) Total $ ( 2,735 ) $ ( 1,455 ) $ ( 4,190 ) Balance at December 31, 2021 Net Change Balance at September 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 3,160 ) $ ( 44,319 ) $ ( 47,479 ) Net defined benefit pension plan adjustments ( 2,511 ) 166 ( 2,345 ) Total $ ( 5,671 ) $ ( 44,153 ) $ ( 49,824 ) Balance at December 31, 2020 Net Change Balance at September 30, 2021 (in thousands) Net unrealized gain (loss) on investment securities $ 2,397 $ ( 3,697 ) $ ( 1,300 ) Net defined benefit pension plan adjustments ( 3,116 ) 226 ( 2,890 ) Total $ ( 719 ) $ ( 3,471 ) $ ( 4,190 ) Three months ended September 30, 2022 Three months ended September 30, 2021 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 21,016 ) $ 5,435 $ ( 15,581 ) $ ( 2,066 ) $ 536 $ ( 1,530 ) Defined benefit pension plan adjustments: Amortization of prior service cost 8 ( 2 ) 6 7 ( 2 ) 5 Amortization of actuarial loss 68 ( 18 ) 50 95 ( 25 ) 70 Net change 76 ( 20 ) 56 102 ( 27 ) 75 Other comprehensive loss $ ( 20,940 ) $ 5,415 $ ( 15,525 ) $ ( 1,964 ) $ 509 $ ( 1,455 ) Nine months ended September 30, 2022 Nine months ended September 30, 2021 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 59,796 ) $ 15,477 $ ( 44,319 ) $ ( 4,995 ) $ 1,298 $ ( 3,697 ) Defined benefit pension plan adjustments: Amortization of prior service cost 24 ( 8 ) 16 23 ( 7 ) 16 Amortization of actuarial loss 203 ( 53 ) 150 285 ( 75 ) 210 Net change 227 ( 61 ) 166 308 ( 82 ) 226 Other comprehensive loss $ ( 59,569 ) $ 15,416 $ ( 44,153 ) $ ( 4,687 ) $ 1,216 $ ( 3,471 ) |
Net Periodic Benefit Costs
Net Periodic Benefit Costs | 9 Months Ended |
Sep. 30, 2022 | |
Net Periodic Benefit Costs [Abstract] | |
Net Periodic Benefit Costs | 6. NET PERIODIC BENEFIT COSTS On January 31, 2008, the Bank froze its defined benefit pension plan. The plan covered substantially all Bank employees. The plan provides benefits that are based on the employees’ compensation and years of service. Under the freeze, eligible employees will receive, at retirement, the benefits already earned through January 31, 2008, but have not accrued any additional benefits since then. As a result, service cost is no longer incurred. The Bank uses an actuarial method of amortizing prior service cost and unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank used recognized the prior service cost and net gains or losses over the average remaining service period of active employees. The Bank also maintains a nonqualified supplemental executive retirement plan covering certain members of the Company’s senior management. The Bank uses an actuarial method of amortizing unrecognized net gains or losses which result from actual expense and assumptions being different than those that are projected. The amortization method the Bank uses recognizes the net gains or losses over the average remaining service period of active employees. The following table presents the net periodic cost for the Bank’s defined benefit pension plan and supplemental executive retirement plan for the three and nine month periods ended September 30, 2022 and 2021: Three months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2022 2021 2022 2021 Service cost $ - $ - $ 33 $ 37 Interest cost 44 41 31 25 Expected return on plan assets ( 88 ) ( 89 ) - - Amortization of prior service cost - - 8 7 Amortization of the net loss 24 24 44 71 Net periodic (benefit) cost $ ( 20 ) $ ( 24 ) $ 116 $ 140 Nine months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2022 2021 2022 2021 Service cost $ - $ - $ 99 $ 112 Interest cost 133 122 93 75 Expected return on plan assets ( 264 ) ( 266 ) - - Amortization of prior service cost - - 24 23 Amortization of the net loss 71 72 132 213 Net periodic (benefit) cost $ ( 60 ) $ ( 72 ) $ 348 $ 423 The components of net periodic benefit cost other than the service cost component are included in the line item “other expense” in the income statement. |
Revenue Recognition Of Non-Inte
Revenue Recognition Of Non-Interest Income | 9 Months Ended |
Sep. 30, 2022 | |
Revenue Recognition Of Non-Interest Income [Abstract] | |
Revenue Recognition Of Non-Interest Income | 7. REVENUE RECOGNITION OF NON-INTEREST INCOME A description of the Company’s material revenue streams in non-interest income accounted for under ASC 606 follows: Insurance Service and Fees: Insurance services revenue relates to various revenue streams from services provided by TEA and the Bank: TEA earns commission revenue from selling commercial and personal property and casualty (“P&C”) insurance as well as employee benefits solutions to commercial customers. TEA has agreements with various insurance companies to sell policies to customers on behalf of the carriers. The performance obligation for TEA is to sell annual P&C policies to commercial customers and consumers. This performance obligation is met when a new policy is sold or when an existing policy renews. The policies are generally one year terms. In the agreements with the respective insurance companies, a commission rate is agreed upon. The commission is recognized at the time of the sale of the policy or when a policy renews. TEA has signed contracts with insurance carriers that enable TEA to sell benefit plans to commercial customers on behalf of the insurance carriers. The performance obligation for TEA is to sell the plans to commercial customers. After the initial sale when the customer signs an agreement to purchase the offered benefit plan, the performance obligation is met each month when a customer continues utilizing benefit plans from the carrier. The customer does not commit to a specific length of time with the carrier. In the agreements with the respective insurance companies, a commission rate is agreed upon. Revenue is recognized each month when the customer continues with the benefit plan sold by TEA. TEA also earns contingent profit sharing revenue. TEA has signed written agreements with insurance carriers that document payouts to TEA based on the loss ratios of its customers. The performance obligation for TEA is to maintain a customer base with loss ratios below the agreed upon thresholds. In the contracts with the insurance companies, payout rates based on loss ratios are documented. The consideration is variable as loss ratios vary based on customer experience. TEA’s performance obligation is over the course of the year as its customers’ performance with insurance carriers is measured throughout the year as losses occur. Due to the variable nature of contingent profit sharing revenue, TEA will accrue contingent profit sharing revenue throughout the year based on recent historical results. As loss events occur and overall performance becomes known to TEA, accrual adjustments will be made until the cash is ultimately received. Financial services commission revenue from the Bank related to wealth management such as life insurance, annuities, and mutual funds sales is also included in the “insurance service and fees” line of the income statement. The Company earns wealth management fees from its contracts with customers for certain financial services. Fees that are transaction-based are recognized at the point in time that the transaction is executed. Other related services provided include financial planning services and the fees the Bank earns are recognized when the services are rendered. Insurance claims services revenue is recorded at FCS. FCS has signed agreements with insurance companies to perform claims services including investigative and adjustment services related to residential and commercial lines. The performance obligation is for FCS to investigate the insurance claims and inspecting the damage to determine the extent of the insurance company’s liability. FCS is paid based on time and materials expended to investigate the claim. The rates paid are determined in the agreement between FCS and the respective insurance companies. Upon completion of its claims inspection work, FCS bills the insurance company for services rendered and recognizes the revenue earned. FCS discontinued operations on December 31, 2021. A disaggregation of the total insurance service and other fees for the three and nine months ended September 30, 2022 and 2021 is provided in the tables below: Three months ended September 30, 2022 2021 (in thousands) Commercial property and casualty insurance commissions $ 1,706 $ 1,426 Personal property and casualty insurance commissions 901 856 Employee benefits sales commissions 206 231 Profit sharing and contingent revenue 410 410 Wealth management and other financial services 137 161 Insurance claims services revenue - 77 Other insurance-related revenue 23 30 Total insurance service and other fees $ 3,383 $ 3,191 Nine months ended September 30, 2022 2021 (in thousands) Commercial property and casualty insurance commissions $ 3,525 $ 3,248 Personal property and casualty insurance commissions 2,554 2,517 Employee benefits sales commissions 649 692 Profit sharing and contingent revenue 971 1,029 Wealth management and other financial services 457 508 Insurance claims services revenue - 236 Other insurance-related revenue 93 120 Total insurance service and other fees $ 8,249 $ 8,350 |
Fair Value Measurement
Fair Value Measurement | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Measurement [Abstract] | |
Fair Value Measurement | 8. FAIR VALUE MEASUREMENT Fair value is defined in ASC Topic 820 “Fair Value Measurement” as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. There are three levels of inputs to fair value measurement: Level 1 inputs are quoted prices for identical instruments in active markets; Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; and Level 3 inputs are unobservable inputs. Observable market data should be used when available. FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE ON A RECURRING BASIS The following table presents, for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a recurring basis as of September 30, 2022 and December 31, 2021, respectively: (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2022 Securities available-for-sale: US treasuries and government agencies $ - $ 141,064 $ - $ 141,064 States and political subdivisions - 21,854 - 21,854 Mortgage-backed securities - 206,223 - 206,223 December 31, 2021 Securities available-for-sale: US treasuries and government agencies $ - $ 96,818 $ - $ 96,818 States and political subdivisions - 6,246 - 6,246 Mortgage-backed securities - 202,895 - 202,895 Securities available for sale Fair values for available for sale securities are determined using independent pricing services and market-participating brokers. The Company utilizes a third-party for these pricing services. The third-party utilizes evaluated pricing models that vary by asset class and incorporate available trade, bid and other market information for structured securities, cash flow and, when available, loan performance data. Because many fixed income securities do not trade on a daily basis, the third-party service provider’s evaluated pricing applications apply information as applicable through processes, such as benchmarking of like securities, sector groupings, and matrix pricing, to prepare evaluations. In addition, our third-party pricing service provider uses model processes, such as the Option Adjusted Spread model, to assess interest rate impact and develop prepayment scenarios. The models and the process take into account market convention. For each asset class, a team of evaluators gathers information from market sources and integrates relevant credit information, perceived market movements and sector news into the evaluated pricing applications and models. The third-party, at times, may determine that it does not have sufficient verifiable information to value a particular security. In these cases the Company will utilize valuations from another pricing service. On a quarterly basis the Company reviews changes, as submitted by our third-party pricing service provider, in the market value of its securities portfolio. Individual changes in valuations are reviewed for consistency with general interest rate movements and any known credit concerns for specific securities. Additionally, on a quarterly basis the Company has its entire securities portfolio priced by a second pricing service to determine consistency with another market evaluator. If, on the Company’s review or in comparing with another servicer, a material difference between pricing evaluations were to exist, the Company may submit an inquiry to our third-party pricing service provider regarding the data used to value a particular security. If the Company determines it has market information that would support a different valuation than our third-party service provider’s evaluation it can submit a challenge for a change to that security’s valuation. Securities available for sale are classified as Level 2 in the fair value hierarchy as the valuation provided by the third-party provider uses observable market data. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE ON A NONRECURRING BASIS The Company is required, on a nonrecurring basis, to adjust the carrying value of certain assets or provide valuation allowances related to certain assets using fair value measurements. The following table presents for each of the fair-value hierarchy levels as defined in this footnote, those financial instruments which are measured at fair value on a nonrecurring basis September 30, 2022 and December 31, 2021: (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2022 Collateral dependent impaired loans $ - $ - $ 1,146 $ 1,146 December 31, 2021 Collateral dependent impaired loans $ - $ - $ 4,608 $ 4,608 Impaired loans Collateral dependent loans carried at fair value have been partially charged-off or receive specific allocations of the allowance for credit losses. The Company evaluates and values collateral dependent impaired loans at the time the loan is identified as impaired, and the fair values of such loans are estimated using Level 3 inputs in the fair value hierarchy. Each loan’s collateral value has a unique appraisal and management’s discount of the value is based on factors unique to each impaired loan. The significant unobservable input in determining the fair value is management’s subjective discount on appraisals of the collateral securing the loan, which ranges from 10%-50%. Fair value is estimated based on the value of the collateral securing these loans. Collateral may consist of real estate and/or business assets including equipment, inventory and/or accounts receivable and the value of these assets is determined based on appraisals by qualified licensed appraisers hired by the Company. Appraised and reported values may be discounted based on management’s historical knowledge, changes in market conditions from the time of valuation, estimated costs to sell, and/or management’s expertise and knowledge of the client and the client’s business. The Company has an appraisal policy in which appraisals are obtained upon a commercial loan being downgraded on the Company’s internal loan rating scale to a special mention or a substandard depending on the amount of the loan, the type of loan and the type of collateral. All impaired commercial loans are graded substandard or worse on the internal loan rating scale. For consumer loans, the Company obtains appraisals when a loan becomes 90 days past due or is determined to be impaired, whichever occurs first. Subsequent to the downgrade or reaching 90 days past due, if the loan remains outstanding and impaired for at least one year more, management may require another follow-up appraisal. Between receipts of updated appraisals, if necessary, management may perform an internal valuation based on any known changing conditions in the marketplace such as sales of similar properties, a change in the condition of the collateral, or feedback from local appraisers. Collateral dependent impaired loans had a gross value of $ 1.2 million, with an allowance for loan loss of $ 0.1 million, at September 30, 2022 compared with $ 5.0 million and $ 0.4 million, respectively, at December 31, 2021. The table below depicts the estimated fair values of the Company’s financial instruments, including those that are not measured and reported at fair value on a recurring basis or nonrecurring basis. September 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 21,207 $ 21,207 $ 244,785 $ 244,785 Level 2: Available for sale securities 369,141 369,141 305,959 305,959 FHLB and FRB stock 6,730 N/A 6,084 N/A Level 3: Held to maturity securities 7,572 7,413 3,165 3,179 Loans, net 1,607,827 1,518,516 1,553,467 1,573,420 Financial liabilities: Level 1: Demand deposits $ 558,805 $ 558,805 $ 492,864 $ 492,864 NOW deposits 263,648 263,648 259,908 259,908 Savings deposits 913,383 913,383 1,019,925 1,019,925 Level 2: Securities sold under agreement to repurchase 9,812 9,812 4,112 4,112 Other borrowed funds 42,594 41,902 32,879 32,990 Subordinated debt 31,050 30,906 30,974 32,111 Level 3: Time deposits 137,910 135,710 164,340 164,574 |
Segment Information
Segment Information | 9 Months Ended |
Sep. 30, 2022 | |
Segment Information [Abstract] | |
Segment Information | 9. SEGMENT INFORMATION The Company comprises two primary business segments, banking and insurance agency activities. The following tables set forth information regarding these segments for the three and nine month periods ended September 30, 2022 and 2021. Three months ended September 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 19,188 $ - $ 19,188 Provision for loan losses 1,328 - 1,328 Net interest income after provision for loan losses 17,860 - 17,860 Insurance service and fees 134 3,249 3,383 Other non-interest income 2,384 - 2,384 Amortization expense 5 95 100 Other non-interest expense 13,750 1,941 15,691 Income before income taxes 6,623 1,213 7,836 Income tax provision 1,658 314 1,972 Net income $ 4,965 $ 899 $ 5,864 Three months ended September 30, 2021 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 18,165 $ ( 2 ) $ 18,163 Provision (credit) for loan losses ( 1,459 ) - ( 1,459 ) Net interest income (expense) after provision for loan losses 19,624 ( 2 ) 19,622 Insurance service and fees 141 3,050 3,191 Other non-interest income 1,966 - 1,966 Amortization expense 6 129 135 Other non-interest expense 13,382 1,876 15,258 Income before income taxes 8,343 1,043 9,386 Income tax provision 2,135 272 2,407 Net income $ 6,208 $ 771 $ 6,979 Nine months ended September 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 53,741 $ - $ 53,741 Provision for loan losses 1,816 - 1,816 Net interest income after provision for loan losses 51,925 - 51,925 Insurance service and fees 442 7,807 8,249 Other non-interest income 6,561 - 6,561 Amortization expense 15 285 300 Other non-interest expense 39,137 5,598 44,735 Income before income taxes 19,776 1,924 21,700 Income tax provision 4,855 499 5,354 Net income $ 14,921 $ 1,425 $ 16,346 Nine months ended September 30, 2021 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 53,118 $ ( 8 ) $ 53,110 Provision (credit) for loan losses ( 1,906 ) - ( 1,906 ) Net interest income (expense) after provision for loan losses 55,024 ( 8 ) 55,016 Insurance service and fees 456 7,894 8,350 Other non-interest income 5,787 4 5,791 Amortization expense 16 389 405 Other non-interest expense 38,603 5,926 44,529 Income before income taxes 22,648 1,575 24,223 Income tax provision 5,669 410 6,079 Net income $ 16,979 $ 1,165 $ 18,144 |
Contingent Liabilities And Comm
Contingent Liabilities And Commitments | 9 Months Ended |
Sep. 30, 2022 | |
Contingent Liabilities And Commitments [Abstract] | |
Contingent Liabilities And Commitments | 10. CONTINGENT LIABILITIES AND COMMITMENTS The unaudited consolidated financial statements do not reflect various commitments and contingent liabilities, which arise in the normal course of business, and which involve elements of credit risk, interest rate risk and liquidity risk. These commitments and contingent liabilities consist of commitments to extend credit and standby letters of credit. A summary of the Bank’s commitments and contingent liabilities is as follows: September 30, December 31, 2022 2021 (in thousands) Commitments to extend credit $ 397,799 $ 394,953 Standby letters of credit 10,657 4,636 Total $ 408,456 $ 399,589 Commitments to extend credit and standby letters of credit include some exposure to credit loss in the event of nonperformance by the customer. The Bank’s credit policies and procedures for credit commitments and financial guarantees are the same as those for extensions of credit that are recorded on the Company’s unaudited consolidated balance sheets. Because these instruments have fixed maturity dates, and because they may expire without being drawn upon, they do not necessarily represent cash requirements of the Bank. The Bank did no t incur any losses on its commitments and did no t record a reserve for its commitments during the first nine months of 2022 or during 2021. Certain lending commitments for construction residential mortgage loans are considered derivative instruments under the guidelines of GAAP. The changes in the fair value of these commitments, due to interest rate risk, are not recorded on the consolidated balance sheets as the fair value of these derivatives is not considered to be material. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Sep. 30, 2022 | |
Recent Accounting Pronouncements [Abstract] | |
Recent Accounting Pronouncements | 11. RECENT ACCOUNTING PRONOUNCEMENTS ASUs adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The following standard will be adopted in a future period. ASUs not listed below are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. ASU 2016-13, Financial Instruments – Credit Losses: Measurement of Credit Losses on Financial Instruments – Current GAAP requires an “incurred loss” methodology for recognizing credit losses that delays recognition until it is probable a loss has been incurred. Both financial institutions and users of their financial statements expressed concern that current GAAP restricts the ability to record credit losses that are expected, but do not yet meet the “probable” threshold. The main objective of this ASU (commonly known as the Current Expected Credit Loss Impairment Model, or CECL, in the industry) is to provide financial statement users with more decision-useful information about the expected credit losses on financial instruments and other commitments to extend credit held by a reporting entity at each reporting date. To achieve this objective, the amendments in CECL replace the incurred loss impairment methodology in current GAAP with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The Company has contracted with a third-party software vendor to assist with the development of the Bank’s approach for determining expected credit losses under the new guidance. The Company is actively working on preliminary test calculations, data validation, as well as process and procedural documentation. While the total impact of CECL to the Company’s financial statements is unknown at this time, the Company recognizes it may be material. On October 16, 2019, the FASB affirmed its decision to amend the effective date for the amendments in CECL for smaller reporting companies to fiscal years beginning after December 15, 2022, including interim periods within those fiscal years. The Company will adopt CECL effective January 1, 2023. ASU 2022-02, Financial Instruments – Credit Losses (Topic 326), Troubled Debt Restructurings and Vintage Disclosures – This ASU eliminates the accounting guidance for troubled debt restructurings ("TDRs") in ASC 310-40, "Receivables - Troubled Debt Restructurings by Creditors" for entities that have adopted the CECL model introduced by ASU 2016-13. ASU 2022-02 also requires that public business entities disclose current-period gross charge-offs by year of origination for financing receivables and net investments in leases within the scope of Subtopic 326-20, "Financial Instruments—Credit Losses—Measured at Amortized Cost". The Company will adopt ASU 2022-02 effective January 1, 2023. |
Organization And Summary Of S_2
Organization And Summary Of Significant Accounting Policies (Policy) | 9 Months Ended |
Sep. 30, 2022 | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Organization And Summary Of Significant Accounting Policies | The accounting and reporting policies followed by Evans Bancorp, Inc. (the “Company”), a financial holding company, and its two direct, wholly-owned subsidiaries: (i) Evans Bank, National Association (the “Bank”), and the Bank’s subsidiaries, Evans National Leasing, Inc. (“ENL”), and Evans National Holding Corp. (“ENHC”); and (ii) Evans National Financial Services, LLC (“ENFS”), and ENFS’s subsidiary, The Evans Agency, LLC (“TEA”), and TEA’s subsidiaries, Frontier Claims Services, Inc. (“FCS”) and ENB Associates Inc. (“ENBA”), in the preparation of the accompanying interim unaudited consolidated financial statements conform with U.S. generally accepted accounting principles (“GAAP”) and with general practice within the industries in which it operates. Except as the context otherwise requires, the Company and its direct and indirect subsidiaries are collectively referred to in this report as the “Company.” The Financial Accounting Standards Board (“FASB”) establishes changes to GAAP in the form of accounting standards updates (“ASUs”) to the FASB Accounting Standards Codification. The Company considers the applicability and impact of all ASUs when they are issued by FASB. ASUs adopted by the Company during the current fiscal year are not expected to have a material impact on the Company’s consolidated financial position, results of operations, cash flows or disclosures. The results of operations for the nine month period ended September 30, 2022 are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited consolidated financial statements should be read in conjunction with the Audited Consolidated Financial Statements and the Notes thereto included in our Annual Report on Form 10-K for the year ended December 31, 2021 (the “10-K”). There have been no significant changes to the Company’s significant accounting policies as disclosed in Note 1 to the 10-K. |
Securities (Tables)
Securities (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Securities [Abstract] | |
Schedule Of Amortized Cost And Approximate Fair Value Of Securities | September 30, 2022 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 166,351 $ 2 $ ( 25,289 ) $ 141,064 States and political subdivisions 23,573 2 ( 1,721 ) 21,854 Total debt securities 189,924 4 ( 27,010 ) 162,918 Mortgage-backed securities: FNMA 76,916 - ( 13,272 ) 63,644 FHLMC 47,544 - ( 7,160 ) 40,384 GNMA 40,741 - ( 6,019 ) 34,722 SBA 23,044 - ( 2,397 ) 20,647 CMO 55,037 - ( 8,211 ) 46,826 Total mortgage-backed securities 243,282 - ( 37,059 ) 206,223 Total securities designated as available for sale $ 433,206 $ 4 $ ( 64,069 ) $ 369,141 Held to Maturity: Debt securities States and political subdivisions $ 7,572 $ - $ ( 159 ) $ 7,413 Total securities designated as held to maturity $ 7,572 $ - $ ( 159 ) $ 7,413 December 31, 2021 (in thousands) Amortized Unrealized Fair Cost Gains Losses Value Available for Sale: Debt securities: U.S. treasuries and government agencies $ 99,005 $ 199 $ ( 2,386 ) $ 96,818 States and political subdivisions 6,150 96 - 6,246 Total debt securities 105,155 295 ( 2,386 ) 103,064 Mortgage-backed securities: FNMA 64,056 222 ( 1,068 ) 63,210 FHLMC 38,796 62 ( 424 ) 38,434 GNMA 31,814 15 ( 615 ) 31,214 SBA 17,919 343 ( 54 ) 18,208 CMO 52,488 175 ( 834 ) 51,829 Total mortgage-backed securities 205,073 817 ( 2,995 ) 202,895 Total securities designated as available for sale $ 310,228 $ 1,112 $ ( 5,381 ) $ 305,959 Held to Maturity: Debt securities States and political subdivisions $ 3,165 $ 17 $ ( 3 ) $ 3,179 Total securities designated as held to maturity $ 3,165 $ 17 $ ( 3 ) $ 3,179 |
Scheduled Maturities Of Debt And Mortgage-Backed Securities | September 30, 2022 Amortized Estimated cost fair value (in thousands) Debt securities available for sale: Due in one year or less $ 6,839 $ 6,769 Due after one year through five years 79,801 73,585 Due after five years through ten years 74,294 62,431 Due after ten years 28,990 20,133 189,924 162,918 Mortgage-backed securities available for sale 243,282 206,223 Total $ 433,206 $ 369,141 Debt securities held to maturity: Due in one year or less $ 6,665 $ 6,615 Due after one year through five years 495 456 Due after five years through ten years 412 342 Due after ten years - - Total $ 7,572 $ 7,413 |
Unrealized Losses On Securities | September 30, 2022 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 91,283 $ ( 9,992 ) $ 48,781 $ ( 15,297 ) $ 140,064 $ ( 25,289 ) States and political subdivisions 20,748 ( 1,721 ) - - 20,748 ( 1,721 ) Total debt securities 112,031 ( 11,713 ) 48,781 ( 15,297 ) 160,812 ( 27,010 ) Mortgage-backed securities: FNMA 31,695 ( 5,178 ) 31,889 ( 8,094 ) 63,584 ( 13,272 ) FHLMC 24,908 ( 3,503 ) 15,458 ( 3,657 ) 40,366 ( 7,160 ) GNMA 20,125 ( 2,675 ) 14,597 ( 3,344 ) 34,722 ( 6,019 ) SBA 17,478 ( 1,966 ) 3,169 ( 431 ) 20,647 ( 2,397 ) CMO 29,286 ( 3,855 ) 17,540 ( 4,356 ) 46,826 ( 8,211 ) Total mortgage-backed securities 123,492 ( 17,177 ) 82,653 ( 19,882 ) 206,145 ( 37,059 ) Held to Maturity: Debt securities: States and political subdivisions 7,335 ( 149 ) 78 ( 10 ) 7,413 ( 159 ) Total temporarily impaired securities $ 242,858 $ ( 29,039 ) $ 131,512 $ ( 35,189 ) $ 374,370 $ ( 64,228 ) December 31, 2021 Less than 12 months 12 months or longer Total Fair Unrealized Fair Unrealized Fair Unrealized Value Losses Value Losses Value Losses (in thousands) Available for Sale: Debt securities: U.S. treasuries and government agencies $ 50,381 $ ( 884 ) $ 27,488 $ ( 1,502 ) $ 77,869 $ ( 2,386 ) States and political subdivisions - - - - - - Total debt securities 50,381 ( 884 ) 27,488 ( 1,502 ) 77,869 ( 2,386 ) Mortgage-backed securities: FNMA 48,008 ( 903 ) 2,941 ( 165 ) 50,949 ( 1,068 ) FHLMC 35,851 ( 423 ) 76 ( 1 ) 35,927 ( 424 ) GNMA 30,252 ( 615 ) 143 - 30,395 ( 615 ) SBA 2,824 ( 25 ) 1,218 ( 29 ) 4,042 ( 54 ) CMO 38,313 ( 833 ) 25 ( 1 ) 38,338 ( 834 ) Total mortgage-backed securities 155,248 ( 2,799 ) 4,403 ( 196 ) 159,651 ( 2,995 ) Held to Maturity: Debt securities: States and political subdivisions 1,782 ( 3 ) - - 1,782 ( 3 ) Total temporarily impaired securities $ 207,411 $ ( 3,686 ) $ 31,891 $ ( 1,698 ) $ 239,302 $ ( 5,384 ) |
Loans And The Allowance For L_2
Loans And The Allowance For Loan Losses (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Loans And The Allowance For Loan Losses [Abstract] | |
Schedule Of Loan Portfolio Composition | September 30, 2022 December 31, 2021 Mortgage loans on real estate: (in thousands) Residential mortgages $ 433,102 $ 411,060 Commercial and multi-family 765,136 739,761 Construction-Residential 3,136 5,109 Construction-Commercial 103,763 98,012 Home equities 83,334 81,238 Total real estate loans 1,388,471 1,335,180 Commercial and industrial loans 238,093 237,077 Consumer and other loans 427 719 Unaccreted yield adjustments* ( 534 ) ( 1,071 ) Total gross loans 1,626,457 1,571,905 Allowance for loan losses ( 18,630 ) ( 18,438 ) Loans, net $ 1,607,827 $ 1,553,467 * Includes net premiums and discounts on acquired loans and net deferred fees and costs on loans originated. |
Data, At Class Level, Of Credit Quality Indicators Of Certain Loans | September 30, 2022 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 64,746 $ 547,332 $ 612,078 $ 175,101 Watch 19,505 165,144 184,649 46,557 Special Mention 6,943 21,453 28,396 9,555 Substandard 12,569 31,207 43,776 6,880 Doubtful/Loss - - - - Total $ 103,763 $ 765,136 $ 868,899 $ 238,093 December 31, 2021 (in thousands) Corporate Credit Exposure – By Credit Rating Commercial Real Estate Construction Commercial and Multi-Family Mortgages Total Commercial Real Estate Commercial and Industrial Acceptable or better $ 65,211 $ 480,159 $ 545,370 $ 152,675 Watch 19,108 182,502 201,610 64,406 Special Mention 7,045 33,219 40,264 10,200 Substandard 6,648 43,881 50,529 9,796 Doubtful/Loss - - - - Total $ 98,012 $ 739,761 $ 837,773 $ 237,077 |
Recorded Investment In Loans Past Due | September 30, 2022 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 229,785 $ 5,375 $ 30 $ 64 $ 2,839 $ 238,093 Residential real estate: Residential 428,009 - 1,371 - 3,722 433,102 Construction 3,136 - - - - 3,136 Commercial real estate: Commercial 754,993 750 203 - 9,190 765,136 Construction 87,302 5,958 875 774 8,854 103,763 Home equities 81,512 1,144 160 - 518 83,334 Consumer and other 414 8 4 1 - 427 Total Loans $ 1,585,151 $ 13,235 $ 2,643 $ 839 $ 25,123 $ 1,626,991 Note: Loan balances do not include $( 0.5 ) million of unaccreted yield adjustments as of September 30, 2022. December 31, 2021 (in thousands) Current Non-accruing Total Balance 30-59 days 60-89 days 90+ days Loans Balance Commercial and industrial $ 229,724 $ 1,336 $ 568 $ 548 $ 4,901 $ 237,077 Residential real estate: Residential 402,992 3,466 1,563 - 3,039 411,060 Construction 5,109 - - - - 5,109 Commercial real estate: Commercial 711,481 16,451 6,073 - 5,756 739,761 Construction 93,842 757 - 480 2,933 98,012 Home equities 79,644 627 209 - 758 81,238 Consumer and other 706 9 4 - - 719 Total Loans $ 1,523,498 $ 22,646 $ 8,417 $ 1,028 $ 17,387 $ 1,572,976 Note: Loan balances do not include $( 1.1 ) m illion of unaccreted yield adjustments as of December 31, 2021. |
Schedule Of Allowance For Loan Losses According To Portfolio Segment | The following tables present the activity in the allowance for loan losses according to portfolio segment for the three month periods ended September 30, 2022 and 2021. Three months ended September 30, 2022 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 3,714 $ 12,305 $ 70 $ 2,164 $ 566 $ 18,819 Charge-offs ( 1,515 ) - ( 45 ) - - ( 1,560 ) Recoveries 40 - 3 - - 43 Provision 1,805 ( 603 ) 13 47 66 1,328 Ending balance $ 4,044 $ 11,702 $ 41 $ 2,211 $ 632 $ 18,630 *Includes construction loans Three months ended September 30, 2021 Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan (in thousands) losses: Beginning balance $ 3,790 $ 13,925 $ 58 $ 1,694 $ 475 $ 19,942 Charge-offs ( 424 ) - ( 29 ) - - ( 453 ) Recoveries 15 - 4 - 2 21 Provision ( 228 ) ( 1,555 ) ( 12 ) 259 77 ( 1,459 ) Ending balance $ 3,153 $ 12,370 $ 21 $ 1,953 $ 554 $ 18,051 * Includes construction loans The following tables present the activity in the allowance for loan losses according to portfolio segment for the nine month periods ended September 30, 2022 and 2021. Nine months ended September 30, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 3,309 $ 12,367 $ 54 $ 2,127 $ 581 $ 18,438 Charge-offs ( 1,546 ) - ( 112 ) ( 55 ) - ( 1,713 ) Recoveries 76 - 13 - - 89 Provision (Credit) 2,205 ( 665 ) 86 139 51 1,816 Ending balance $ 4,044 $ 11,702 $ 41 $ 2,211 $ 632 $ 18,630 *Includes construction loans Nine months ended September 30, 2021 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Beginning balance $ 4,882 $ 13,249 $ 45 $ 1,658 $ 581 $ 20,415 Charge-offs ( 424 ) - ( 120 ) - - ( 544 ) Recoveries 58 - 26 - 2 86 Provision (Credit) ( 1,363 ) ( 879 ) 70 295 ( 29 ) ( 1,906 ) Ending balance $ 3,153 $ 12,370 $ 21 $ 1,953 $ 554 $ 18,051 *Includes construction loans The following table presents the allocation of the allowance for loan losses according to portfolio segment summarized on the basis of the Company’s impairment methodology as of September 30, 2022 and December 31, 2021: September 30, 2022 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment 2 2 - 66 39 109 Collectively evaluated for impairment 4,042 11,700 41 2,145 593 18,521 Total $ 4,044 $ 11,702 $ 41 $ 2,211 $ 632 $ 18,630 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 703 $ - $ 703 Individually evaluated for impairment 2,929 20,839 - 3,367 903 28,038 Collectively evaluated for impairment 235,164 848,060 427 432,168 82,431 1,598,250 Total $ 238,093 $ 868,899 $ 427 $ 436,238 $ 83,334 $ 1,626,991 Note: Loan balances do not include $( 0.5 ) million of unaccreted yield adjustments as of September 30, 2022. * Includes construction loans December 31, 2021 (in thousands) Commercial and Industrial Commercial Real Estate Mortgages* Consumer and Other Residential Mortgages* Home Equities Total Allowance for loan losses: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ - $ - $ - Individually evaluated for impairment 100 345 - 9 41 495 Collectively evaluated for impairment 3,209 12,022 54 2,118 540 17,943 Total $ 3,309 $ 12,367 $ 54 $ 2,127 $ 581 $ 18,438 Loans: Ending balance: Loans acquired with deteriorated credit quality $ - $ - $ - $ 803 $ - $ 803 Individually evaluated for impairment 5,028 11,925 - 2,598 1,236 20,787 Collectively evaluated for impairment 232,049 825,848 719 412,768 80,002 1,551,386 Total $ 237,077 $ 837,773 $ 719 $ 416,169 $ 81,238 $ 1,572,976 Note: Loan balances do not include $( 1.1 ) million of unaccreted yield adjustments as of December 31, 2021. * Includes construction loans |
Data, At Class Level, Of Impaired Loans | At September 30, 2022 At December 31, 2021 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With no related allowance recorded: Commercial and industrial $ 2,926 $ 3,551 $ - $ 4,874 $ 5,712 $ - Residential real estate: Residential 3,784 4,253 - 3,297 3,654 - Construction - - - - - - Commercial real estate: Commercial 11,814 12,150 - 8,821 9,338 - Construction 8,854 8,998 - 1,395 1,499 - Home equities 864 1,024 - 1,127 1,324 - Consumer and other - - - - - - Total impaired loans $ 28,242 $ 29,976 $ - $ 19,514 $ 21,527 $ - At September 30, 2022 At December 31, 2021 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance With a related allowance recorded: Commercial and industrial $ 3 $ 3 $ 2 $ 154 $ 158 $ 100 Residential real estate: Residential 245 245 66 60 60 9 Construction - - - - - - Commercial real estate: Commercial 171 197 2 171 717 16 Construction - - - 1,538 1,555 329 Home equities 39 66 39 109 109 41 Consumer and other - - - - - - Total impaired loans $ 458 $ 511 $ 109 $ 2,032 $ 2,599 $ 495 At September 30, 2022 At December 31, 2021 (in thousands) Recorded Investment Unpaid Principal Balance Related Allowance Recorded Investment Unpaid Principal Balance Related Allowance Total: Commercial and industrial $ 2,929 $ 3,554 $ 2 $ 5,028 $ 5,870 $ 100 Residential real estate: Residential 4,029 4,498 66 3,357 3,714 9 Construction - - - - - - Commercial real estate: Commercial 11,985 12,347 2 8,992 10,055 16 Construction 8,854 8,998 - 2,933 3,054 329 Home equities 903 1,090 39 1,236 1,433 41 Consumer and other - - - - - - Total impaired loans $ 28,700 $ 30,487 $ 109 $ 21,546 $ 24,126 $ 495 Three months ended September 30, 2022 Three months ended September 30, 2021 (in thousands) Average Recorded Investment Interest Income Recognized Average Recorded Investment Interest Income Recognized Total: Commercial and industrial $ 3,681 $ 2 $ 5,755 $ - Residential real estate: Residential 3,972 - 3,894 5 Construction - - - - Commercial real estate: Commercial 12,533 6 15,044 165 Construction 5,113 - 3,331 - Home equities 932 4 1,440 3 Consumer and other - - - - Total impaired loans $ 26,231 $ 12 $ 29,464 $ 173 |
Loans Classified As Troubled Debt Restructurings | September 30, 2022 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,254 $ 1,164 $ 90 $ - Residential real estate: Residential 889 541 348 - Construction - - - - Commercial real estate: Commercial and multi-family 2,795 - 2,795 - Construction - - - - Home equities 390 5 385 - Consumer and other - - - - Total TDR loans $ 5,328 $ 1,710 $ 3,618 $ - December 31, 2021 (in thousands) Total Nonaccruing Accruing Related Allowance Commercial and industrial $ 1,003 $ 876 $ 127 $ - Residential real estate: Residential 989 627 362 - Construction - - - - Commercial real estate: Commercial and multi-family 3,236 - 3,236 - Construction - - - - Home equities 490 12 478 - Consumer and other - - - - Total TDR loans $ 5,718 $ 1,515 $ 4,203 $ - |
TDR Activity By Type Of Concession Granted To Borrower | Nine months ended September 30, 2022 Nine months ended September 30, 2021 (Recorded Investment in thousands) (Recorded Investment in thousands) Troubled Debt Restructurings by Type of Concession Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Number of Contracts Pre-Modification Outstanding Recorded Investment Post-Modification Outstanding Recorded Investment Commercial and Industrial: - $ - $ - - $ - $ - Extension of maturity 1 461 461 - - - Residential Real Estate & Construction: Commercial Real Estate & Construction - - - - - - Home Equities: Extension of maturity and interest rate reduction 1 38 38 - - - Consumer and other loans - - - - - - |
Other Comprehensive Income (L_2
Other Comprehensive Income (Loss) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Other Comprehensive Income (Loss) [Abstract] | |
Schedule of Accumulated Other Comprehensive Income | Balance at June 30, 2022 Net Change Balance at September 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 31,898 ) $ ( 15,581 ) $ ( 47,479 ) Net defined benefit pension plan adjustments ( 2,401 ) 56 ( 2,345 ) Total $ ( 34,299 ) $ ( 15,525 ) $ ( 49,824 ) Balance at June 30, 2021 Net Change Balance at September 30, 2021 (in thousands) Net unrealized gain (loss) on investment securities $ 230 $ ( 1,530 ) $ ( 1,300 ) Net defined benefit pension plan adjustments ( 2,965 ) 75 ( 2,890 ) Total $ ( 2,735 ) $ ( 1,455 ) $ ( 4,190 ) Balance at December 31, 2021 Net Change Balance at September 30, 2022 (in thousands) Net unrealized loss on investment securities $ ( 3,160 ) $ ( 44,319 ) $ ( 47,479 ) Net defined benefit pension plan adjustments ( 2,511 ) 166 ( 2,345 ) Total $ ( 5,671 ) $ ( 44,153 ) $ ( 49,824 ) Balance at December 31, 2020 Net Change Balance at September 30, 2021 (in thousands) Net unrealized gain (loss) on investment securities $ 2,397 $ ( 3,697 ) $ ( 1,300 ) Net defined benefit pension plan adjustments ( 3,116 ) 226 ( 2,890 ) Total $ ( 719 ) $ ( 3,471 ) $ ( 4,190 ) |
Components Of Other Comprehensive Income | Three months ended September 30, 2022 Three months ended September 30, 2021 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 21,016 ) $ 5,435 $ ( 15,581 ) $ ( 2,066 ) $ 536 $ ( 1,530 ) Defined benefit pension plan adjustments: Amortization of prior service cost 8 ( 2 ) 6 7 ( 2 ) 5 Amortization of actuarial loss 68 ( 18 ) 50 95 ( 25 ) 70 Net change 76 ( 20 ) 56 102 ( 27 ) 75 Other comprehensive loss $ ( 20,940 ) $ 5,415 $ ( 15,525 ) $ ( 1,964 ) $ 509 $ ( 1,455 ) Nine months ended September 30, 2022 Nine months ended September 30, 2021 (in thousands) (in thousands) Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Before-Tax Amount Income Tax (Provision) Benefit Net-of-Tax Amount Unrealized loss on investment securities: Unrealized loss on investment securities $ ( 59,796 ) $ 15,477 $ ( 44,319 ) $ ( 4,995 ) $ 1,298 $ ( 3,697 ) Defined benefit pension plan adjustments: Amortization of prior service cost 24 ( 8 ) 16 23 ( 7 ) 16 Amortization of actuarial loss 203 ( 53 ) 150 285 ( 75 ) 210 Net change 227 ( 61 ) 166 308 ( 82 ) 226 Other comprehensive loss $ ( 59,569 ) $ 15,416 $ ( 44,153 ) $ ( 4,687 ) $ 1,216 $ ( 3,471 ) |
Net Periodic Benefit Costs (Tab
Net Periodic Benefit Costs (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Net Periodic Benefit Costs [Abstract] | |
Schedule Of Net Periodic Benefit Cost | Three months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2022 2021 2022 2021 Service cost $ - $ - $ 33 $ 37 Interest cost 44 41 31 25 Expected return on plan assets ( 88 ) ( 89 ) - - Amortization of prior service cost - - 8 7 Amortization of the net loss 24 24 44 71 Net periodic (benefit) cost $ ( 20 ) $ ( 24 ) $ 116 $ 140 Nine months ended September 30, (in thousands) Supplemental Executive Pension Benefits Retirement Plan 2022 2021 2022 2021 Service cost $ - $ - $ 99 $ 112 Interest cost 133 122 93 75 Expected return on plan assets ( 264 ) ( 266 ) - - Amortization of prior service cost - - 24 23 Amortization of the net loss 71 72 132 213 Net periodic (benefit) cost $ ( 60 ) $ ( 72 ) $ 348 $ 423 |
Fair Value Measurement (Tables)
Fair Value Measurement (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Fair Value Measurement [Abstract] | |
Financial Instruments Measured At Fair Value On Recurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2022 Securities available-for-sale: US treasuries and government agencies $ - $ 141,064 $ - $ 141,064 States and political subdivisions - 21,854 - 21,854 Mortgage-backed securities - 206,223 - 206,223 December 31, 2021 Securities available-for-sale: US treasuries and government agencies $ - $ 96,818 $ - $ 96,818 States and political subdivisions - 6,246 - 6,246 Mortgage-backed securities - 202,895 - 202,895 |
Financial Instruments Measured At Fair Value On Nonrecurring Basis | (in thousands) Level 1 Level 2 Level 3 Fair Value September 30, 2022 Collateral dependent impaired loans $ - $ - $ 1,146 $ 1,146 December 31, 2021 Collateral dependent impaired loans $ - $ - $ 4,608 $ 4,608 |
Estimated Fair Values Of Financial Instruments | September 30, 2022 December 31, 2021 Carrying Fair Carrying Fair Amount Value Amount Value (in thousands) (in thousands) Financial assets: Level 1: Cash and cash equivalents $ 21,207 $ 21,207 $ 244,785 $ 244,785 Level 2: Available for sale securities 369,141 369,141 305,959 305,959 FHLB and FRB stock 6,730 N/A 6,084 N/A Level 3: Held to maturity securities 7,572 7,413 3,165 3,179 Loans, net 1,607,827 1,518,516 1,553,467 1,573,420 Financial liabilities: Level 1: Demand deposits $ 558,805 $ 558,805 $ 492,864 $ 492,864 NOW deposits 263,648 263,648 259,908 259,908 Savings deposits 913,383 913,383 1,019,925 1,019,925 Level 2: Securities sold under agreement to repurchase 9,812 9,812 4,112 4,112 Other borrowed funds 42,594 41,902 32,879 32,990 Subordinated debt 31,050 30,906 30,974 32,111 Level 3: Time deposits 137,910 135,710 164,340 164,574 |
Segment Information (Tables)
Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Segment Information [Abstract] | |
Schedule Of Business Segments | Three months ended September 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 19,188 $ - $ 19,188 Provision for loan losses 1,328 - 1,328 Net interest income after provision for loan losses 17,860 - 17,860 Insurance service and fees 134 3,249 3,383 Other non-interest income 2,384 - 2,384 Amortization expense 5 95 100 Other non-interest expense 13,750 1,941 15,691 Income before income taxes 6,623 1,213 7,836 Income tax provision 1,658 314 1,972 Net income $ 4,965 $ 899 $ 5,864 Three months ended September 30, 2021 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 18,165 $ ( 2 ) $ 18,163 Provision (credit) for loan losses ( 1,459 ) - ( 1,459 ) Net interest income (expense) after provision for loan losses 19,624 ( 2 ) 19,622 Insurance service and fees 141 3,050 3,191 Other non-interest income 1,966 - 1,966 Amortization expense 6 129 135 Other non-interest expense 13,382 1,876 15,258 Income before income taxes 8,343 1,043 9,386 Income tax provision 2,135 272 2,407 Net income $ 6,208 $ 771 $ 6,979 Nine months ended September 30, 2022 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income $ 53,741 $ - $ 53,741 Provision for loan losses 1,816 - 1,816 Net interest income after provision for loan losses 51,925 - 51,925 Insurance service and fees 442 7,807 8,249 Other non-interest income 6,561 - 6,561 Amortization expense 15 285 300 Other non-interest expense 39,137 5,598 44,735 Income before income taxes 19,776 1,924 21,700 Income tax provision 4,855 499 5,354 Net income $ 14,921 $ 1,425 $ 16,346 Nine months ended September 30, 2021 Banking Insurance Agency Activities Activities Total (in thousands) Net interest income (expense) $ 53,118 $ ( 8 ) $ 53,110 Provision (credit) for loan losses ( 1,906 ) - ( 1,906 ) Net interest income (expense) after provision for loan losses 55,024 ( 8 ) 55,016 Insurance service and fees 456 7,894 8,350 Other non-interest income 5,787 4 5,791 Amortization expense 16 389 405 Other non-interest expense 38,603 5,926 44,529 Income before income taxes 22,648 1,575 24,223 Income tax provision 5,669 410 6,079 Net income $ 16,979 $ 1,165 $ 18,144 |
Contingent Liabilities And Co_2
Contingent Liabilities And Commitments (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Contingent Liabilities And Commitments [Abstract] | |
Summary Of Commitments And Contingent Liabilities | September 30, December 31, 2022 2021 (in thousands) Commitments to extend credit $ 397,799 $ 394,953 Standby letters of credit 10,657 4,636 Total $ 408,456 $ 399,589 |
Organization And Summary Of S_3
Organization And Summary Of Significant Accounting Policies (Narrative) (Details) | 9 Months Ended |
Sep. 30, 2022 entity | |
Organization And Summary Of Significant Accounting Policies [Abstract] | |
Number of subsidiaries | 2 |
Securities (Narrative) (Details
Securities (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Schedule of Available-for-sale Securities [Line Items] | |||||
Available for sale securities pledged as collateral | $ 244,000,000 | $ 244,000,000 | $ 207,000,000 | ||
Gross realized gains (losses) from sales of investment securities | $ 0 | $ 0 | 0 | $ 0 | |
Other-than-temporary impairment charges | $ 0 | $ 0 | |||
Minimum [Member] | Mortgage-Backed Securities [Member] | |||||
Schedule of Available-for-sale Securities [Line Items] | |||||
Contractual maturities duration | 10 years | 10 years |
Securities (Schedule Of Amortiz
Securities (Schedule Of Amortized Cost And Approximate Fair Value Of Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | $ 433,206 | $ 310,228 |
Available for Sale, Unrealized Gains | 4 | 1,112 |
Available for Sale, Unrealized Losses | (64,069) | (5,381) |
Available for Sale, Fair Value | 369,141 | 305,959 |
Held to Maturity, Amortized Cost | 7,572 | 3,165 |
Held to Maturity, Unrealized Gains | 17 | |
Held to Maturity, Unrealized Losses | (159) | (3) |
Held to Maturity, Fair Value | 7,413 | 3,179 |
US Treasuries And Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 166,351 | 99,005 |
Available for Sale, Unrealized Gains | 2 | 199 |
Available for Sale, Unrealized Losses | (25,289) | (2,386) |
Available for Sale, Fair Value | 141,064 | 96,818 |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 23,573 | 6,150 |
Available for Sale, Unrealized Gains | 2 | 96 |
Available for Sale, Unrealized Losses | (1,721) | |
Available for Sale, Fair Value | 21,854 | 6,246 |
Held to Maturity, Amortized Cost | 7,572 | 3,165 |
Held to Maturity, Unrealized Gains | 17 | |
Held to Maturity, Unrealized Losses | (159) | (3) |
Held to Maturity, Fair Value | 7,413 | 3,179 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 189,924 | 105,155 |
Available for Sale, Unrealized Gains | 4 | 295 |
Available for Sale, Unrealized Losses | (27,010) | (2,386) |
Available for Sale, Fair Value | 162,918 | 103,064 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 243,282 | 205,073 |
Available for Sale, Unrealized Gains | 817 | |
Available for Sale, Unrealized Losses | (37,059) | (2,995) |
Available for Sale, Fair Value | 206,223 | 202,895 |
FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 76,916 | 64,056 |
Available for Sale, Unrealized Gains | 222 | |
Available for Sale, Unrealized Losses | (13,272) | (1,068) |
Available for Sale, Fair Value | 63,644 | 63,210 |
FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 47,544 | 38,796 |
Available for Sale, Unrealized Gains | 62 | |
Available for Sale, Unrealized Losses | (7,160) | (424) |
Available for Sale, Fair Value | 40,384 | 38,434 |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 40,741 | 31,814 |
Available for Sale, Unrealized Gains | 15 | |
Available for Sale, Unrealized Losses | (6,019) | (615) |
Available for Sale, Fair Value | 34,722 | 31,214 |
SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 23,044 | 17,919 |
Available for Sale, Unrealized Gains | 343 | |
Available for Sale, Unrealized Losses | (2,397) | (54) |
Available for Sale, Fair Value | 20,647 | 18,208 |
CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 55,037 | 52,488 |
Available for Sale, Unrealized Gains | 175 | |
Available for Sale, Unrealized Losses | (8,211) | (834) |
Available for Sale, Fair Value | $ 46,826 | $ 51,829 |
Securities (Scheduled Maturitie
Securities (Scheduled Maturities Of Debt And Mortgage-Backed Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Debt securities available for sale, Due in one year or less, Amortized cost | $ 6,839 | |
Debt securities available for sale, Due after one year through five years, Amortized cost | 79,801 | |
Debt securities available for sale, Due after five years through ten years, Amortized cost | 74,294 | |
Debt securities available for sale, Due after ten years, Amortized cost | 28,990 | |
Total securities designated as available for sale, Amortized Cost | 189,924 | |
Total securities designated as available for sale, Amortized Cost | 433,206 | $ 310,228 |
Debt securities available for sale, Due in one year or less, Estimated fair value | 6,769 | |
Debt securities available for sale, Due after one year through five years, Estimated fair value | 73,585 | |
Debt securities available for sale, Due after five years through ten years, Estimated fair value | 62,431 | |
Debt securities available for sale, Due after ten years, Estimated fair value | 20,133 | |
Debt securities available for sale, Estimated fair value | 162,918 | |
$159,157 at December 31, 2021) | 369,141 | 305,959 |
Debt securities held to maturity, Due in one year or less, Amortized cost | 6,665 | |
Debt securities held to maturity, Due after one year through five years, Amortized cost | 495 | |
Debt securities held to maturity, Due after five years through ten years, Amortized cost | 412 | |
Held to Maturity, Amortized Cost | 7,572 | 3,165 |
Debt securities held to maturity, Due in one year or less, Estimated fair value | 6,615 | |
Debt securities held to maturity, Due after one year through five years, Estimated fair value | 456 | |
Debt securities held to maturity, Due after five years through ten years, Estimated fair value | 342 | |
Held to maturity, Estimated fair value | 7,413 | 3,179 |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Total securities designated as available for sale, Amortized Cost | 189,924 | 105,155 |
$159,157 at December 31, 2021) | 162,918 | 103,064 |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Mortgage-backed securities available for sale, Amortized cost | 243,282 | |
Total securities designated as available for sale, Amortized Cost | 243,282 | 205,073 |
Mortgage-backed securities available for sale, Estimated fair value | 206,223 | |
$159,157 at December 31, 2021) | $ 206,223 | $ 202,895 |
Securities (Unrealized Losses O
Securities (Unrealized Losses On Securities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Schedule of Available-for-sale Securities [Line Items] | ||
Total temporarily impaired securities, Less than 12 months, Fair Value | $ 242,858 | $ 207,411 |
Total temporarily impaired securities, 12 months or longer, Fair Value | 131,512 | 31,891 |
Total temporarily impaired securities, Total, Fair Value | 374,370 | 239,302 |
Total temporarily impaired securities, Less than 12 months, Unrealized Losses | (29,039) | (3,686) |
Total temporarily impaired securities, 12 months or longer, Unrealized Losses | (35,189) | (1,698) |
Total temporarily impaired securities, Total, Unrealized Losses | (64,228) | (5,384) |
US Treasuries And Government Agencies [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 91,283 | 50,381 |
Available for Sale, 12 months or longer, Fair Value | 48,781 | 27,488 |
Available for Sale, Total, Fair Value | 140,064 | 77,869 |
Available for Sale, Less than 12 months, Unrealized Losses | (9,992) | (884) |
Available for Sale, 12 months or longer, Unrealized Losses | (15,297) | (1,502) |
Available for Sale, Total, Unrealized Losses | (25,289) | (2,386) |
States and Political Subdivisions [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 20,748 | |
Available for Sale, Total, Fair Value | 20,748 | |
Available for Sale, Less than 12 months, Unrealized Losses | (1,721) | |
Available for Sale, Total, Unrealized Losses | (1,721) | |
Held To Maturity, Less than 12 months, Fair Value | 7,335 | 1,782 |
Held To Maturity, 12 months or longer, Fair Value | 78 | |
Held To Maturity, Total, Fair Value | 7,413 | 1,782 |
Held To Maturity, Less than 12 months, Unrealized Losses | (149) | (3) |
Held To Maturity, 12 months or longer, Unrealized Losses | (10) | |
Held To Maturity, Total, Unrealized Losses | (159) | (3) |
Debt Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 112,031 | 50,381 |
Available for Sale, 12 months or longer, Fair Value | 48,781 | 27,488 |
Available for Sale, Total, Fair Value | 160,812 | 77,869 |
Available for Sale, Less than 12 months, Unrealized Losses | (11,713) | (884) |
Available for Sale, 12 months or longer, Unrealized Losses | (15,297) | (1,502) |
Available for Sale, Total, Unrealized Losses | (27,010) | (2,386) |
Mortgage-Backed Securities [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 123,492 | 155,248 |
Available for Sale, 12 months or longer, Fair Value | 82,653 | 4,403 |
Available for Sale, Total, Fair Value | 206,145 | 159,651 |
Available for Sale, Less than 12 months, Unrealized Losses | (17,177) | (2,799) |
Available for Sale, 12 months or longer, Unrealized Losses | (19,882) | (196) |
Available for Sale, Total, Unrealized Losses | (37,059) | (2,995) |
FNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 31,695 | 48,008 |
Available for Sale, 12 months or longer, Fair Value | 31,889 | 2,941 |
Available for Sale, Total, Fair Value | 63,584 | 50,949 |
Available for Sale, Less than 12 months, Unrealized Losses | (5,178) | (903) |
Available for Sale, 12 months or longer, Unrealized Losses | (8,094) | (165) |
Available for Sale, Total, Unrealized Losses | (13,272) | (1,068) |
FHLMC [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 24,908 | 35,851 |
Available for Sale, 12 months or longer, Fair Value | 15,458 | 76 |
Available for Sale, Total, Fair Value | 40,366 | 35,927 |
Available for Sale, Less than 12 months, Unrealized Losses | (3,503) | (423) |
Available for Sale, 12 months or longer, Unrealized Losses | (3,657) | (1) |
Available for Sale, Total, Unrealized Losses | (7,160) | (424) |
GNMA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 20,125 | 30,252 |
Available for Sale, 12 months or longer, Fair Value | 14,597 | 143 |
Available for Sale, Total, Fair Value | 34,722 | 30,395 |
Available for Sale, Less than 12 months, Unrealized Losses | (2,675) | (615) |
Available for Sale, 12 months or longer, Unrealized Losses | (3,344) | |
Available for Sale, Total, Unrealized Losses | (6,019) | (615) |
SBA [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 17,478 | 2,824 |
Available for Sale, 12 months or longer, Fair Value | 3,169 | 1,218 |
Available for Sale, Total, Fair Value | 20,647 | 4,042 |
Available for Sale, Less than 12 months, Unrealized Losses | (1,966) | (25) |
Available for Sale, 12 months or longer, Unrealized Losses | (431) | (29) |
Available for Sale, Total, Unrealized Losses | (2,397) | (54) |
CMO [Member] | ||
Schedule of Available-for-sale Securities [Line Items] | ||
Available for Sale, Less than 12 months, Fair Value | 29,286 | 38,313 |
Available for Sale, 12 months or longer, Fair Value | 17,540 | 25 |
Available for Sale, Total, Fair Value | 46,826 | 38,338 |
Available for Sale, Less than 12 months, Unrealized Losses | (3,855) | (833) |
Available for Sale, 12 months or longer, Unrealized Losses | (4,356) | (1) |
Available for Sale, Total, Unrealized Losses | $ (8,211) | $ (834) |
Loans And The Allowance For L_3
Loans And The Allowance For Loan Losses (Narrative) (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Outstanding principal balance | $ 800,000 | $ 800,000 | $ 800,000 | |||
Acquired credit-impaired loans | 700,000 | 700,000 | ||||
Valuation allowances, acquired credit-impaired loans | 0 | 0 | 0 | |||
Balance | 1,585,151,000 | 1,585,151,000 | 1,523,498,000 | |||
Total criticized assets increase | 89,000,000 | $ 89,000,000 | 111,000,000 | |||
Period of timely payments before reversion to accruing status | 6 months | |||||
Residential Mortgages [Member] | FSB [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Loan servicing portfolio principal balance | 61,000,000 | $ 61,000,000 | ||||
Commercial And Industrial [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 229,785,000 | 229,785,000 | 229,724,000 | |||
Consumer And Other Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 414,000 | 414,000 | 706,000 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage loans sold | 4,800,000 | |||||
Loan servicing portfolio principal balance | 120,000,000 | 120,000,000 | 131,000,000 | |||
Mortgage servicing rights | 1,200,000 | 1,200,000 | 900,000 | |||
Mortgage loans held-for-sale | 0 | 0 | 100,000 | |||
Balance | 428,009,000 | 428,009,000 | 402,992,000 | |||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FHLMC Loans [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage loans sold | 0 | $ 0 | 0 | $ 0 | ||
Total Real Estate Loans [Member] | Residential Mortgages [Member] | FNMA Loans [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Mortgage loans sold | 1,300,000 | $ 0 | ||||
Loan servicing portfolio principal balance | 59,000,000 | 59,000,000 | ||||
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 754,993,000 | 754,993,000 | 711,481,000 | |||
Total Real Estate Loans [Member] | FHLBNY [Member] | Residential Mortgages [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Balance | 508,000,000 | 508,000,000 | $ 619,000,000 | |||
Hotel Loans [Member] | ||||||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||||||
Hotel loan portfolio | $ 38,000,000 | $ 38,000,000 | ||||
Total criticized assets increase | $ 81,000,000 |
Loans And The Allowance For L_4
Loans And The Allowance For Loan Losses (Schedule Of Loan Portfolio Composition) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | $ 1,626,991 | $ 1,572,976 |
Unaccreted yield adjustments | (534) | (1,071) |
Total gross loans | 1,626,457 | 1,571,905 |
Allowance for loan losses | (18,630) | (18,438) |
Loans, net | 1,607,827 | 1,553,467 |
Commercial And Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 238,093 | 237,077 |
Consumer And Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 427 | 719 |
Total Real Estate Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 1,626,991 | 1,572,976 |
Unaccreted yield adjustments | (500) | (1,100) |
Total Real Estate Loans [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 1,388,471 | 1,335,180 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 436,238 | 416,169 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 433,102 | 411,060 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 3,136 | 5,109 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 868,899 | 837,773 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 765,136 | 739,761 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | Construction [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 103,763 | 98,012 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 83,334 | 81,238 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | Mortgages [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 83,334 | 81,238 |
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | 238,093 | 237,077 |
Total Real Estate Loans [Member] | Consumer And Other Loans [Member] | ||
Accounts, Notes, Loans and Financing Receivable [Line Items] | ||
Loans before deferred loan origination costs | $ 427 | $ 719 |
Loans And The Allowance For L_5
Loans And The Allowance For Loan Losses (Data, At Class Level, Of Credit Quality Indicators Of Certain Loans) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 1,626,991 | $ 1,572,976 |
Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,626,991 | 1,572,976 |
Total Real Estate Loans [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 1,388,471 | 1,335,180 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 868,899 | 837,773 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 612,078 | 545,370 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 184,649 | 201,610 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 28,396 | 40,264 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 43,776 | 50,529 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 103,763 | 98,012 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 64,746 | 65,211 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 19,505 | 19,108 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 6,943 | 7,045 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 12,569 | 6,648 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Construction [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 765,136 | 739,761 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 547,332 | 480,159 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 165,144 | 182,502 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 21,453 | 33,219 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 31,207 | 43,881 |
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | Mortgages [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 238,093 | 237,077 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Acceptable Or Better [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 175,101 | 152,675 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Watch [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 46,557 | 64,406 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Special Mention [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 9,555 | 10,200 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Substandard [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | 6,880 | 9,796 |
Commercial And Industrial [Member] | Corporate Credit Exposure—By Credit Rating, Doubtful/Loss [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | ||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment [Line Items] | ||
Total gross loans | $ 238,093 | $ 237,077 |
Loans And The Allowance For L_6
Loans And The Allowance For Loan Losses (Recorded Investment In Loans Past Due) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | $ 1,585,151 | $ 1,523,498 |
Non-accruing Loans | 25,123 | 17,387 |
Total Balance | 1,626,991 | 1,572,976 |
Unaccreted yield adjustments | (534) | (1,071) |
30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 13,235 | 22,646 |
60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 2,643 | 8,417 |
90+ Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 839 | 1,028 |
Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 229,785 | 229,724 |
Non-accruing Loans | 2,839 | 4,901 |
Total Balance | 238,093 | 237,077 |
Commercial And Industrial [Member] | 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 5,375 | 1,336 |
Commercial And Industrial [Member] | 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 30 | 568 |
Commercial And Industrial [Member] | 90+ Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 64 | 548 |
Consumer And Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 414 | 706 |
Total Balance | 427 | 719 |
Consumer And Other Loans [Member] | 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 8 | 9 |
Consumer And Other Loans [Member] | 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 4 | 4 |
Consumer And Other Loans [Member] | 90+ Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 1 | |
Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 1,626,991 | 1,572,976 |
Unaccreted yield adjustments | (500) | (1,100) |
Total Real Estate Loans [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 238,093 | 237,077 |
Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 436,238 | 416,169 |
Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 868,899 | 837,773 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 81,512 | 79,644 |
Non-accruing Loans | 518 | 758 |
Total Balance | 83,334 | 81,238 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 1,144 | 627 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 160 | 209 |
Total Real Estate Loans [Member] | Consumer And Other Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 427 | 719 |
Mortgages [Member] | Total Real Estate Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 1,388,471 | 1,335,180 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 428,009 | 402,992 |
Non-accruing Loans | 3,722 | 3,039 |
Total Balance | 433,102 | 411,060 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 3,466 | |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 1,371 | 1,563 |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 754,993 | 711,481 |
Non-accruing Loans | 9,190 | 5,756 |
Total Balance | 765,136 | 739,761 |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 750 | 16,451 |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 203 | 6,073 |
Mortgages [Member] | Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Total Balance | 83,334 | 81,238 |
Construction [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 3,136 | 5,109 |
Total Balance | 3,136 | 5,109 |
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 87,302 | 93,842 |
Non-accruing Loans | 8,854 | 2,933 |
Total Balance | 103,763 | 98,012 |
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 30-59 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 5,958 | 757 |
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 60-89 Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | 875 | |
Construction [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | 90+ Days [Member] | ||
Financing Receivable, Recorded Investment, Past Due [Line Items] | ||
Balance | $ 774 | $ 480 |
Loans And The Allowance For L_7
Loans And The Allowance For Loan Losses (Schedule Of Allowance For Loan Losses According To Portfolio Segment) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Provision(Credit) | $ 1,328 | $ (1,459) | $ 1,816 | $ (1,906) | |
Total | 1,626,991 | 1,626,991 | $ 1,572,976 | ||
Unaccreted yield adjustments | (534) | (534) | (1,071) | ||
Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 18,819 | 19,942 | 18,438 | 20,415 | |
Allowance for loan losses: Charge-offs | (1,560) | (453) | (1,713) | (544) | |
Allowance for loan losses: Recoveries | 43 | 21 | 89 | 86 | |
Allowance for loan losses: Provision(Credit) | 1,328 | (1,459) | 1,816 | (1,906) | |
Allowance for loan losses: Ending balance | 18,630 | 18,051 | 18,630 | 18,051 | |
Allowance for loan losses: Individually evaluated for impairment | 109 | 109 | 495 | ||
Allowance for loan losses: Collectively evaluated for impairment | 18,521 | 18,521 | 17,943 | ||
Allowance for loan losses: Total | 18,630 | 18,051 | 18,630 | 18,051 | 18,438 |
Loans: Loans acquired with deteriorated credit quality | 703 | 703 | 803 | ||
Loans: Individually evaluated for impairment | 28,038 | 28,038 | 20,787 | ||
Loans: Collectively evaluated for impairment | 1,598,250 | 1,598,250 | 1,551,386 | ||
Total | 1,626,991 | 1,626,991 | 1,572,976 | ||
Unaccreted yield adjustments | (500) | (500) | (1,100) | ||
Commercial And Industrial [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total | 238,093 | 238,093 | 237,077 | ||
Commercial And Industrial [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 3,714 | 3,790 | 3,309 | 4,882 | |
Allowance for loan losses: Charge-offs | (1,515) | (424) | (1,546) | (424) | |
Allowance for loan losses: Recoveries | 40 | 15 | 76 | 58 | |
Allowance for loan losses: Provision(Credit) | 1,805 | (228) | 2,205 | (1,363) | |
Allowance for loan losses: Ending balance | 4,044 | 3,153 | 4,044 | 3,153 | |
Allowance for loan losses: Individually evaluated for impairment | 2 | 2 | 100 | ||
Allowance for loan losses: Collectively evaluated for impairment | 4,042 | 4,042 | 3,209 | ||
Allowance for loan losses: Total | 4,044 | 3,153 | 4,044 | 3,153 | 3,309 |
Loans: Individually evaluated for impairment | 2,929 | 2,929 | 5,028 | ||
Loans: Collectively evaluated for impairment | 235,164 | 235,164 | 232,049 | ||
Total | 238,093 | 238,093 | 237,077 | ||
Commercial Real Estate Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 12,305 | 13,925 | 12,367 | 13,249 | |
Allowance for loan losses: Provision(Credit) | (603) | (1,555) | (665) | (879) | |
Allowance for loan losses: Ending balance | 11,702 | 12,370 | 11,702 | 12,370 | |
Allowance for loan losses: Individually evaluated for impairment | 2 | 2 | 345 | ||
Allowance for loan losses: Collectively evaluated for impairment | 11,700 | 11,700 | 12,022 | ||
Allowance for loan losses: Total | 11,702 | 12,370 | 11,702 | 12,370 | 12,367 |
Loans: Individually evaluated for impairment | 20,839 | 20,839 | 11,925 | ||
Loans: Collectively evaluated for impairment | 848,060 | 848,060 | 825,848 | ||
Total | 868,899 | 868,899 | 837,773 | ||
Consumer And Other Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Total | 427 | 427 | 719 | ||
Consumer And Other Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 70 | 58 | 54 | 45 | |
Allowance for loan losses: Charge-offs | (45) | (29) | (112) | (120) | |
Allowance for loan losses: Recoveries | 3 | 4 | 13 | 26 | |
Allowance for loan losses: Provision(Credit) | 13 | (12) | 86 | 70 | |
Allowance for loan losses: Ending balance | 41 | 21 | 41 | 21 | |
Allowance for loan losses: Collectively evaluated for impairment | 41 | 41 | 54 | ||
Allowance for loan losses: Total | 41 | 21 | 41 | 21 | 54 |
Loans: Collectively evaluated for impairment | 427 | 427 | 719 | ||
Total | 427 | 427 | 719 | ||
Residential Mortgages [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 2,164 | 1,694 | 2,127 | 1,658 | |
Allowance for loan losses: Charge-offs | (55) | ||||
Allowance for loan losses: Provision(Credit) | 47 | 259 | 139 | 295 | |
Allowance for loan losses: Ending balance | 2,211 | 1,953 | 2,211 | 1,953 | |
Allowance for loan losses: Individually evaluated for impairment | 66 | 66 | 9 | ||
Allowance for loan losses: Collectively evaluated for impairment | 2,145 | 2,145 | 2,118 | ||
Allowance for loan losses: Total | 2,211 | 1,953 | 2,211 | 1,953 | 2,127 |
Loans: Loans acquired with deteriorated credit quality | 703 | 703 | 803 | ||
Loans: Individually evaluated for impairment | 3,367 | 3,367 | 2,598 | ||
Loans: Collectively evaluated for impairment | 432,168 | 432,168 | 412,768 | ||
Total | 436,238 | 436,238 | 416,169 | ||
Home Equity Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 581 | ||||
Allowance for loan losses: Recoveries | 2 | ||||
Allowance for loan losses: Provision(Credit) | (29) | ||||
Allowance for loan losses: Ending balance | 554 | 554 | |||
Allowance for loan losses: Total | 554 | 554 | |||
Home Equity Loans [Member] | Total Real Estate Loans [Member] | |||||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||||
Allowance for loan losses: Beginning balance | 566 | 475 | 581 | ||
Allowance for loan losses: Recoveries | 2 | ||||
Allowance for loan losses: Provision(Credit) | 66 | 77 | 51 | ||
Allowance for loan losses: Ending balance | 632 | 554 | 632 | 554 | |
Allowance for loan losses: Individually evaluated for impairment | 39 | 39 | 41 | ||
Allowance for loan losses: Collectively evaluated for impairment | 593 | 593 | 540 | ||
Allowance for loan losses: Total | 632 | $ 554 | 632 | $ 554 | 581 |
Loans: Individually evaluated for impairment | 903 | 903 | 1,236 | ||
Loans: Collectively evaluated for impairment | 82,431 | 82,431 | 80,002 | ||
Total | $ 83,334 | $ 83,334 | $ 81,238 |
Loans And The Allowance For L_8
Loans And The Allowance For Loan Losses (Data, At Class Level, Of Impaired Loans) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Financing Receivable, Impaired [Line Items] | |||||
Impaired Loans, Recorded Investment, With no related allowance recorded | $ 28,242 | $ 28,242 | $ 19,514 | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 458 | 458 | 2,032 | ||
Impaired Loans, Recorded Investment, Total | 28,700 | 28,700 | 21,546 | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 29,976 | 29,976 | 21,527 | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 511 | 511 | 2,599 | ||
Impaired Loans, Unpaid Principal Balance, Total | 30,487 | 30,487 | 24,126 | ||
Impaired Loans, Related Allowance | 109 | 109 | 495 | ||
Impaired loans, Average Recorded Investment, Total | 26,231 | $ 29,464 | 23,651 | $ 30,401 | |
Impaired Loans, Interest Income Recognized, Total | 12 | 173 | 215 | 288 | |
Commercial And Industrial [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Loans, Recorded Investment, With no related allowance recorded | 2,926 | 2,926 | 4,874 | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 3 | 3 | 154 | ||
Impaired Loans, Recorded Investment, Total | 2,929 | 2,929 | 5,028 | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 3,551 | 3,551 | 5,712 | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 3 | 3 | 158 | ||
Impaired Loans, Unpaid Principal Balance, Total | 3,554 | 3,554 | 5,870 | ||
Impaired Loans, Related Allowance | 2 | 2 | 100 | ||
Impaired loans, Average Recorded Investment, Total | 3,681 | 5,755 | 4,251 | 5,657 | |
Impaired Loans, Interest Income Recognized, Total | 2 | 6 | 29 | ||
Residential Mortgages [Member] | Mortgages [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Loans, Recorded Investment, With no related allowance recorded | 3,784 | 3,784 | 3,297 | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 245 | 245 | 60 | ||
Impaired Loans, Recorded Investment, Total | 4,029 | 4,029 | 3,357 | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 4,253 | 4,253 | 3,654 | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 245 | 245 | 60 | ||
Impaired Loans, Unpaid Principal Balance, Total | 4,498 | 4,498 | 3,714 | ||
Impaired Loans, Related Allowance | 66 | 66 | 9 | ||
Impaired loans, Average Recorded Investment, Total | 3,972 | 3,894 | 3,735 | 4,756 | |
Impaired Loans, Interest Income Recognized, Total | 5 | 12 | 22 | ||
Commercial Real Estate Mortgages [Member] | Mortgages [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Loans, Recorded Investment, With no related allowance recorded | 11,814 | 11,814 | 8,821 | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 171 | 171 | 171 | ||
Impaired Loans, Recorded Investment, Total | 11,985 | 11,985 | 8,992 | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 12,150 | 12,150 | 9,338 | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 197 | 197 | 717 | ||
Impaired Loans, Unpaid Principal Balance, Total | 12,347 | 12,347 | 10,055 | ||
Impaired Loans, Related Allowance | 2 | 2 | 16 | ||
Impaired loans, Average Recorded Investment, Total | 12,533 | 15,044 | 10,785 | 15,014 | |
Impaired Loans, Interest Income Recognized, Total | 6 | 165 | 183 | 228 | |
Commercial Real Estate Mortgages [Member] | Construction [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Loans, Recorded Investment, With no related allowance recorded | 8,854 | 8,854 | 1,395 | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 1,538 | ||||
Impaired Loans, Recorded Investment, Total | 8,854 | 8,854 | 2,933 | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 8,998 | 8,998 | 1,499 | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 1,555 | ||||
Impaired Loans, Unpaid Principal Balance, Total | 8,998 | 8,998 | 3,054 | ||
Impaired Loans, Related Allowance | 329 | ||||
Impaired loans, Average Recorded Investment, Total | 5,113 | 3,331 | 3,881 | 3,305 | |
Impaired Loans, Interest Income Recognized, Total | 2 | ||||
Home Equity Loans [Member] | |||||
Financing Receivable, Impaired [Line Items] | |||||
Impaired Loans, Recorded Investment, With no related allowance recorded | 864 | 864 | 1,127 | ||
Impaired Loans, Recorded Investment, With a related allowance recorded | 39 | 39 | 109 | ||
Impaired Loans, Recorded Investment, Total | 903 | 903 | 1,236 | ||
Impaired Loans, Unpaid Principal Balance, With no related allowance recorded | 1,024 | 1,024 | 1,324 | ||
Impaired Loans, Unpaid Principal Balance, With a related allowance recorded | 66 | 66 | 109 | ||
Impaired Loans, Unpaid Principal Balance, Total | 1,090 | 1,090 | 1,433 | ||
Impaired Loans, Related Allowance | 39 | 39 | $ 41 | ||
Impaired loans, Average Recorded Investment, Total | 932 | 1,440 | 999 | 1,669 | |
Impaired Loans, Interest Income Recognized, Total | $ 4 | $ 3 | $ 14 | $ 7 |
Loans And The Allowance For L_9
Loans And The Allowance For Loan Losses (Loans Classified As Troubled Debt Restructurings) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Financing Receivable, Modifications [Line Items] | ||
Total | $ 5,328 | $ 5,718 |
Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,254 | 1,003 |
Nonaccruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,710 | 1,515 |
Nonaccruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 1,164 | 876 |
Accruing [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 3,618 | 4,203 |
Accruing [Member] | Commercial And Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 90 | 127 |
Total Real Estate Loans [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 390 | 490 |
Total Real Estate Loans [Member] | Nonaccruing [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 5 | 12 |
Total Real Estate Loans [Member] | Accruing [Member] | Home Equity Loans [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 385 | 478 |
Mortgages [Member] | Total Real Estate Loans [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 889 | 989 |
Mortgages [Member] | Total Real Estate Loans [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 2,795 | 3,236 |
Mortgages [Member] | Total Real Estate Loans [Member] | Nonaccruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 541 | 627 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Residential Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | 348 | 362 |
Mortgages [Member] | Total Real Estate Loans [Member] | Accruing [Member] | Commercial Real Estate Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Total | $ 2,795 | $ 3,236 |
Loans And The Allowance For _10
Loans And The Allowance For Loan Losses (TDR Activity By Type Of Concession Granted To Borrower) (Details) $ in Thousands | 9 Months Ended |
Sep. 30, 2022 USD ($) contract | |
Commercial And Industrial [Member] | Extension Of Maturity [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Contracts | contract | 1 |
Pre-Modification Outstanding Recorded Investment | $ 461 |
Post-Modification Outstanding Recorded Investment | $ 461 |
Home Equity Loans [Member] | Extension Of Maturity And Interest Rate Reduction [Member] | |
Financing Receivable, Modifications [Line Items] | |
Number of Contracts | contract | 1 |
Pre-Modification Outstanding Recorded Investment | $ 38 |
Post-Modification Outstanding Recorded Investment | $ 38 |
Common Equity And Earnings Pe_2
Common Equity And Earnings Per Share Data (Narrative) (Details) - shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Common Equity And Earnings Per Share Data [Abstract] | ||||
Weighted average number of shares outstanding, dilutive | 36,646 | 57,705 | 42,572 | 52,128 |
Potentially anti-dilutive shares outstanding | 54,680 | 39,390 | 55,847 | 80,614 |
Other Comprehensive Income (L_3
Other Comprehensive Income (Loss) (Schedule Of Accumulated Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | $ (34,299) | $ (2,735) | $ (5,671) | $ (719) |
Net Change | (15,525) | (1,455) | (44,153) | (3,471) |
Ending Balance | (49,824) | (4,190) | (49,824) | (4,190) |
Net Unrealized Gain (Loss) On Investment Securities [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (31,898) | 230 | (3,160) | 2,397 |
Net Change | (15,581) | (1,530) | (44,319) | (3,697) |
Ending Balance | (47,479) | (1,300) | (47,479) | (1,300) |
Net Defined Benefit Pension Plan Adjustments [Member] | ||||
Accumulated Other Comprehensive Income (Loss) [Line Items] | ||||
Beginning Balance | (2,401) | (2,965) | (2,511) | (3,116) |
Net Change | 56 | 75 | 166 | 226 |
Ending Balance | $ (2,345) | $ (2,890) | $ (2,345) | $ (2,890) |
Other Comprehensive Income (L_4
Other Comprehensive Income (Loss) (Components Of Other Comprehensive Income) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Unrealized (loss) gain on investment securities: | ||||
Unrealized (loss) gain on investment securities, Before-Tax Amount | $ (21,016) | $ (2,066) | $ (59,796) | $ (4,995) |
Unrealized (loss) gain on investment securities, Income Tax (Provision) Benefit | 5,435 | 536 | 15,477 | 1,298 |
Unrealized (loss) gain on investment securities, Net-of-Tax Amount | (15,581) | (1,530) | (44,319) | (3,697) |
Defined benefit pension plan adjustments: | ||||
Amortization of prior service cost, Before-Tax Amount | 8 | 7 | 24 | 23 |
Amortization of prior service cost, Income Tax (Provision) Benefit | (2) | (2) | (8) | (7) |
Amortization of prior service cost, Net-of-Tax Amount | 6 | 5 | 16 | 16 |
Amortization of actuarial loss, Before-Tax Amount | 68 | 95 | 203 | 285 |
Amortization of actuarial loss, Income Tax (Provision) Benefit | (18) | (25) | (53) | (75) |
Amortization of actuarial loss, Net-of-Tax Amount | 50 | 70 | 150 | 210 |
Net change, Before-Tax Amount | 76 | 102 | 227 | 308 |
Net change, Income Tax (Provision) Benefit | (20) | (27) | (61) | (82) |
Total | 56 | 75 | 166 | 226 |
Other comprehensive (loss) income, Before-Tax Amount | (20,940) | (1,964) | (59,569) | (4,687) |
Other comprehensive (loss) income, Income Tax (Provision) Benefit | 5,415 | 509 | 15,416 | 1,216 |
OTHER COMPREHENSIVE (LOSS) INCOME , NET OF TAX: | $ (15,525) | $ (1,455) | $ (44,153) | $ (3,471) |
Net Periodic Benefit Costs (Sch
Net Periodic Benefit Costs (Schedule Of Net Periodic Benefit Cost) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Pension [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Interest cost | $ 44 | $ 41 | $ 133 | $ 122 |
Expected return on plan assets | (88) | (89) | (264) | (266) |
Amortization of the net loss | 24 | 24 | 71 | 72 |
Net periodic (benefit) cost | (20) | (24) | (60) | (72) |
Supplemental Executive Retirement Plan [Member] | ||||
Defined Benefit Plan Disclosure [Line Items] | ||||
Service cost | 33 | 37 | 99 | 112 |
Interest cost | 31 | 25 | 93 | 75 |
Amortization of prior service cost | 8 | 7 | 24 | 23 |
Amortization of the net loss | 44 | 71 | 132 | 213 |
Net periodic (benefit) cost | $ 116 | $ 140 | $ 348 | $ 423 |
Revenue Recognition Of Non-In_2
Revenue Recognition Of Non-Interest Income (Schedule Of Disaggregation Of Insurance Service And Other Fees) (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 3,383 | $ 3,191 | $ 8,249 | $ 8,350 |
Commercial Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 1,706 | 1,426 | 3,525 | 3,248 |
Personal Property And Casualty Insurance Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 901 | 856 | 2,554 | 2,517 |
Employee Benefits Sales Commissions [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 206 | 231 | 649 | 692 |
Profit Sharing And Contingent Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 410 | 410 | 971 | 1,029 |
Wealth Management And Other Financial Services [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 137 | 161 | 457 | 508 |
Insurance Claims Services Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | 77 | 236 | ||
Other Insurance-Related Revenue [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Total insurance service and other fees | $ 23 | $ 30 | $ 93 | $ 120 |
Fair Value Measurement (Narrati
Fair Value Measurement (Narrative) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Impaired loans, allowance for loan loss | $ 109 | $ 495 |
Consumer Loans [Member] | ||
Fair Value Measurement Inputs and Valuation Techniques [Line Items] | ||
Collateral dependent impaired loans, gross | 1,200 | 5,000 |
Impaired loans, allowance for loan loss | $ 100 | $ 400 |
Fair Value Measurement (Financi
Fair Value Measurement (Financial Instruments Measured At Fair Value On Recurring Basis) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 369,141 | $ 305,959 |
Recurring [Member] | US Treasuries And Government Agencies [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 141,064 | 96,818 |
Recurring [Member] | US Treasuries And Government Agencies [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 141,064 | 96,818 |
Recurring [Member] | States and Political Subdivisions [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 21,854 | 6,246 |
Recurring [Member] | States and Political Subdivisions [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 21,854 | 6,246 |
Recurring [Member] | Mortgage-Backed Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | 206,223 | 202,895 |
Recurring [Member] | Mortgage-Backed Securities [Member] | Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Available for sale securities | $ 206,223 | $ 202,895 |
Fair Value Measurement (Finan_2
Fair Value Measurement (Financial Instruments Measured At Fair Value On Nonrecurring Basis) (Details) - Nonrecurring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 1,146 | $ 4,608 |
Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Collateral dependent impaired loans | $ 1,146 | $ 4,608 |
Fair Value Measurement (Estimat
Fair Value Measurement (Estimated Fair Values Of Financial Instruments) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | $ 369,141 | $ 305,959 |
Held to maturity securities | 7,413 | 3,179 |
Demand deposits | 558,805 | 492,864 |
NOW deposits | 263,648 | 259,908 |
Savings deposits | 913,383 | 1,019,925 |
Time deposits | 137,910 | 164,340 |
Carrying Amount [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 21,207 | 244,785 |
Demand deposits | 558,805 | 492,864 |
NOW deposits | 263,648 | 259,908 |
Savings deposits | 913,383 | 1,019,925 |
Carrying Amount [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 369,141 | 305,959 |
FHLB and FRB stock | 6,730 | 6,084 |
Securities sold under agreement to repurchase | 9,812 | 4,112 |
Other borrowed funds | 42,594 | 32,879 |
Subordinated debt | 31,050 | 30,974 |
Carrying Amount [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 7,572 | 3,165 |
Loans, net | 1,607,827 | 1,553,467 |
Time deposits | 137,910 | 164,340 |
Fair Value [Member] | Level 1 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Cash and cash equivalents | 21,207 | 244,785 |
Demand deposits | 558,805 | 492,864 |
NOW deposits | 263,648 | 259,908 |
Savings deposits | 913,383 | 1,019,925 |
Fair Value [Member] | Level 2 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Available for sale securities | 369,141 | 305,959 |
Securities sold under agreement to repurchase | 9,812 | 4,112 |
Other borrowed funds | 41,902 | 32,990 |
Subordinated debt | 30,906 | 32,111 |
Fair Value [Member] | Level 3 [Member] | ||
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items] | ||
Held to maturity securities | 7,413 | 3,179 |
Loans, net | 1,518,516 | 1,573,420 |
Time deposits | $ 135,710 | $ 164,574 |
Segment Information (Details)
Segment Information (Details) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 USD ($) | Sep. 30, 2021 USD ($) | Sep. 30, 2022 USD ($) segment | Sep. 30, 2021 USD ($) | |
Number of primary business segments | segment | 2 | |||
Net interest income (expense) | $ 19,188 | $ 18,163 | $ 53,741 | $ 53,110 |
Provision (credit) for loan losses | 1,328 | (1,459) | 1,816 | (1,906) |
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES | 17,860 | 19,622 | 51,925 | 55,016 |
Insurance service and fees | 3,383 | 3,191 | 8,249 | 8,350 |
Other non-interest income | 5,767 | 5,157 | 14,810 | 14,141 |
Amortization expense | 100 | 135 | 300 | 405 |
Other non-interest expense | 15,791 | 15,393 | 45,035 | 44,934 |
INCOME BEFORE INCOME TAXES | 7,836 | 9,386 | 21,700 | 24,223 |
Income tax provision | 1,972 | 2,407 | 5,354 | 6,079 |
NET INCOME | 5,864 | 6,979 | 16,346 | 18,144 |
Operating Segments [Member] | ||||
Net interest income (expense) | 19,188 | 18,163 | 53,741 | 53,110 |
Provision (credit) for loan losses | 1,328 | (1,459) | 1,816 | (1,906) |
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES | 17,860 | 19,622 | 51,925 | 55,016 |
Insurance service and fees | 3,383 | 3,191 | 8,249 | 8,350 |
Other non-interest income | 2,384 | 1,966 | 6,561 | 5,791 |
Amortization expense | 100 | 135 | 300 | 405 |
Other non-interest expense | 15,691 | 15,258 | 44,735 | 44,529 |
INCOME BEFORE INCOME TAXES | 7,836 | 9,386 | 21,700 | 24,223 |
Income tax provision | 1,972 | 2,407 | 5,354 | 6,079 |
NET INCOME | 5,864 | 6,979 | 16,346 | 18,144 |
Banking Activities [Member] | Operating Segments [Member] | ||||
Net interest income (expense) | 19,188 | 18,165 | 53,741 | 53,118 |
Provision (credit) for loan losses | 1,328 | (1,459) | 1,816 | (1,906) |
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES | 17,860 | 19,624 | 51,925 | 55,024 |
Insurance service and fees | 134 | 141 | 442 | 456 |
Other non-interest income | 2,384 | 1,966 | 6,561 | 5,787 |
Amortization expense | 5 | 6 | 15 | 16 |
Other non-interest expense | 13,750 | 13,382 | 39,137 | 38,603 |
INCOME BEFORE INCOME TAXES | 6,623 | 8,343 | 19,776 | 22,648 |
Income tax provision | 1,658 | 2,135 | 4,855 | 5,669 |
NET INCOME | 4,965 | 6,208 | 14,921 | 16,979 |
Insurance Agency Activities [Member] | Operating Segments [Member] | ||||
Net interest income (expense) | (2) | (8) | ||
NET INTEREST INCOME AFTER PROVISION (CREDIT) FOR LOAN LOSSES | (2) | (8) | ||
Insurance service and fees | 3,249 | 3,050 | 7,807 | 7,894 |
Other non-interest income | 4 | |||
Amortization expense | 95 | 129 | 285 | 389 |
Other non-interest expense | 1,941 | 1,876 | 5,598 | 5,926 |
INCOME BEFORE INCOME TAXES | 1,213 | 1,043 | 1,924 | 1,575 |
Income tax provision | 314 | 272 | 499 | 410 |
NET INCOME | $ 899 | $ 771 | $ 1,425 | $ 1,165 |
Contingent Liabilities And Co_3
Contingent Liabilities And Commitments (Narrative) (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Contingent Liabilities And Commitments [Abstract] | ||
Losses on commitments | $ 0 | $ 0 |
Reserve for commitments | $ 0 | $ 0 |
Contingent Liabilities And Co_4
Contingent Liabilities And Commitments (Summary Of Commitments And Contingent Liabilities) (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 408,456 | $ 399,589 |
Commitments To Extend Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | 397,799 | 394,953 |
Standby Letters Of Credit [Member] | ||
Loss Contingencies [Line Items] | ||
Commitments and contingent liabilities | $ 10,657 | $ 4,636 |